Subsequent Auditor u/s 139(1)

Holds office from conclusion of 1st AGM till conclusion of 6th AGM i.e. 5 yrs. term From conclusion of 1st AGM till 2nd = Year 1 2nd to 3rd = Year 2 3rd to 4th = Year 3 4th to 5th = Year 4 5th to 6th = Year 5 QUERY: later it says that, thereafter till the conclusion of every sixth meeting If i count 5 years from conclusion of 6th AGM it goes till conclusion of 11th AGM but it says till the conclusion of every sixth meeting... i am considering it as 6+6=till conclusion of 12th AGM Please explain this part a bit. Getting mixed up...

Deepak Gupta

Deepak Gupta

CA Inter


21-Jan-21 18:22


Answers (1)

1. Every company shall, at the first annual general meeting, appoint an individual or a firm as an auditor who shall hold office from the conclusion of that meeting till the conclusion of its sixth annual general meeting. This completes the tenure of the First Auditor. 2. Thereafter till the conclusion of every sixth meeting. This is regarding the subsequent Auditors. So, it is said that the first Auditor shall hold the office from the conclusion of first AGM till the conclusion of the 6th AGM. After which, a subsequent auditor shall be appointed who shall hold the office till the conclusion of AGM conducted after 5 years of his appointment (till 6th AGM of the subsequent auditor) provided he does not attract any disqualifications in the mean time.

Madhuri Veluri

Madhuri Veluri


22-Jan-21 10:36

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