Does the auditor automatically vacate his office if the company does not hold AGM in time?
Does the auditor automatically vacate his office if the company does not hold AGM in time?
Jeeba Aug. 04, 2018
A per section 224(1), an auditor is appointed for a particular period. It means that an auditor can be appointed for the period of 5 years.
If AGM is not held within a prescribed period, the auditor will continue in office till the annual general meeting is actually held and concluded.
Therefore, the auditor shall continue to hold office till the conclusion of the annual general meeting. Auditor’s office is not vacated automatically if AGM is not held in time.
