Appointment of Auditor
- Every Company shall require to appoint an individual auditor or audit firm as a first auditor of the company within 30 days of its incorporation and in the case of failure of the Board to appoint such auditor, it shall inform the members of the company, who shall within ninety days at an extraordinary general meeting appoint such auditor and such auditor shall hold office till the conclusion of the first annual general meeting.
- In the case of a Government company or any other company-owned or controlled, directly or indirectly, by the Central Government, or by any State Government, or Governments, or partly by the Central Government and partly by one or more State Governments, the first auditor shall be appointed by the Comptroller and Auditor-General of India within sixty days from the date of registration of the company and in case the Comptroller and Auditor-General of India does not appoint such auditor within the said period, the Board of Directors of the company shall appointment of auditor such auditor within the next thirty days; and in the case of failure of the Board to appoint such auditor within the next thirty days, it shall inform the members of the company who shall appoint such auditor within the sixty days at an extraordinary general meeting, who shall hold office till the conclusion of the first annual general meeting.
- Every Company shall at the first Annual General Meeting, appoint an individual or an audit firm as an appointment of auditor of the company, who shall hold office from the conclusion of that meeting till the conclusion of a sixth annual general meeting.
- As per Companies Act, 2013, the company is required to inform the registrar of companies (ROC) that the auditor of the company is appointed in Form ADT-1 within 15 days of meeting in which the auditor has been appointed.
Basic Features to Read before starting private limited company
A private company is required to add the word “Private Limited” or “Pvt. Ltd.” to the end of its name. A private company should have at least two members and two directors. The private company has the right to issue debentures to any number of persons.
Features of Public Limited Company
MCA provides the facility for the incorporation of the public limited companies. For incorporation, firstly apply for name through RUN (Reserve Unique Name) on the MCA portal. After the availability of name from ROC we should file incorporation form i.e. Spice 32, INC 33(for eMOA), INC 34(for eAOA), .