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Appointment of auditor is not ratified is it amounts to casual vacancy
28-Dec-2023 (In Corporate Law)
Kindly confirm if in an AGM shareholders do not ratify the appointment of auditor, will the same amounts to casual vacancy. If so can the board of directors appoint another firm ( as per section 139(8) for one year within 30 days or do we need to call an EGM within 3 months. please guide.
Yes, if the shareholders do not tatify the appointment of auditor, it will amount to casual vacancy as per Section 139(8)(i).
Yes, the board of directors can appoint another firm within 30 days for one year period until next agm.
Regards
Sadanand
Yes, the board of directors can appoint another firm within 30 days for one year period until next agm.
Regards
Sadanand
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Adv. Sadanand Naik
Bangalore | 200+ Answers
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Yes Casual Vacancy arises. Another Firm may be appointed within 30 days. No need to call for an EGM. The Board of directors can ratify the appointment in the next Board Meeting. Hope this clarifies. Thanks.
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Adv. Siddharth Merathia
Bangalore | 25+ Answers
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