can first auditor removed by board of dirctor at statutory meeting.........
7 Replies
CA Rachit Gupta
(Chartered Accountant)
(1315 Points)
Replied 16 October 2011
No Rajeev, at AGM first auditors can be removed only by passing ordinary resolution, board of directors has no power to remove the auditors (whether first of subsequent) at AGM.
SANJEEV
(CA Final (B.COM))
(189 Points)
Replied 17 October 2011
Company can remove First Auditor in GM not in any other case..
Agree with
Rachit gupta
gillbates
(student)
(277 Points)
Replied 17 October 2011
| Originally posted by : rajeev kumar, bcom ca-final | ||
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can first auditor removed by board of dirctor at statutory meeting......... |
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no
Pradeep Singh
(article)
(65 Points)
Replied 17 October 2011
first auditor is appointed by board of director in, therefore only bod can remove first auditor by passing board resolution in board meeting.
you can refer to sec 224(5) of companies act 1956.
CA Rachit Gupta
(Chartered Accountant)
(1315 Points)
Replied 17 October 2011
Dear pradeep
In section 224(5), it is clearly mentioned that for removal of first auditor ordinary resolution must to passed. Moreover, ordinary resolution is passed only by the shareholders in a general meeting.
So In my opinion board has no power to remove the auditors(whether first auditor or subsequent auditor)
CA Arindam Dey
(Chartered Accountant)
(117 Points)
Replied 17 October 2011
Although u/s 224(5), First Auditors are appointed by the Board but the authority to remove the First Auditors (before the first AGM) rests with the COMPANY by passing an ordinary resolution at a general meeting.
CA Vikas Jindal
(+ve)
(229 Points)
Replied 17 October 2011
can b removed by shareholders in GM (AGM or EGM)
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