1. BOD shall consider the ratification in a BOD meet calling for AGM. The ratification shall be for (name of firm), chartered accountants as statutory auditors of the Company.
2. The Company must obtained from the Auditors, a certificate as required under S139 to the effect that they are eligible to continue as statutory auditor of the Company.
3. The AGM notice must carry the resolution to ratify the previous auditor. The Board must consider the matter and should decide that the ratification of the Auditors be recommended to the shareholders at the forthcoming Annual General Meeting from the conclusion of this Annual General Meeting till the conclusion of the next Annual General Meeting of the Company at a remuneration to be mutually decided.
4. The AGM must passed a resolution as ordinary business pursuant to Sections 139, 142 and other applicable provisions, if any, of the Companies Act, 2013 and the Companies (Audit and Auditors) Rules, 2014 ratifying the appointment of (Name of Firm), Chartered Accountants, (Firm Registration Number ), as Auditors of the Company to hold office from the conclusion of this Annual General Meeting (AGM) till the conclusion of the next AGM of the Company to be held in the year …………”
5. The Company must issue a letter to the Auditor within 15 days of AGM.
AUDITORS PROCESS FOR RATIFICATION
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