Whether sec 139(1) is applicable only to new companies?

Dear all,

Some of our professional colleagues have been wrongly appointed Auditors for 1 year in last year in case of private companies (on which Rotation is NOT applicable)…..

Whether this year can they be appointed again for 1 year or remaining 4 years?

Some experts feel that applicability of Sec 139(1) is only on those companies which are registered in the Companies Act 2013 (and NOT on erstwhile companies)……..Is it really so?

What should be the remedial action NOW in Current Year?

Warm Regards

ANKIT SOMANI

FCA (Throughout 1st Attempt, Ranker)

CS (Ranker, Silver Medalist)

B. COM

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