Shrilakshmi (ACS) (58 Points)
17 July 2010
Dear All,
can any one provide me the procedure for removal of first auditor appointed by the Board of the public unlisted company before its statutory meeting.
Please treat it as urgent.
Shrilakshmi
vivek
(CS)
(751 Points)
Replied 17 July 2010
U cn remove first auditor in a General Meeting no need to give special notice too, the provision is as follows:-
224(5) The first auditor or auditors of a company shall be appointed by the Board of directors within one month of the date of registration of the company; and the auditor or auditors so appointed shall hold office until the conclusion of the first annual general meeting: Provided that—
(a) the company may, at a general meeting, remove any such auditor or all or any of such auditors and appoint in his or their places any other person or persons who have been nominated for appointment by any member of the company and of whose nomination notice has been given to the members of the company not less than fourteen days before the date of the meeting;
Shrilakshmi
(ACS)
(58 Points)
Replied 17 July 2010
Dear Vivek Sir,
it means that the Company can hold EGM before the Statutory Meeting. isn't it?
vivek
(CS)
(751 Points)
Replied 17 July 2010
Upto my understanding yes you can hold the EGM, whether as per section 165:-
"Every company limited by shares, and every company limited by guarantee and having a share capital, shall, within a period of not less than one month nor more than six months from the date at which the company is entitled to commence business, hold a general meeting of the members of the company, which shall be called "the statutory meeting".
The Company will hold a General meeting which shall be called "The Statutory Meeting" if you are holding meeting without calling the same Statutory Meeting and without circulation of Statutory Reprt it will be EGM and one company can validly convene a EGM.
Others views solicited,
Regards,
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