Auditor

Guest (Querist) 19 May 2012 This query is : Resolved
The Companies Act provides that the auditors shall be appointed by an ordinary resolution in general meeting.

If the shareholders agreement contain a clause that the auditors shall be appointed with their mutual consent,what will be its legal effect?

C.S. A.K.Maitra

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ashutosh mishra (Expert) 20 May 2012
The only thing the Act seeks to ensure is that the appointment of the auditors must not be in clutches of board of directors,barring first appointment and must be vested in the general body of the share holders.

Suhail A.Siddiqui (Expert) 20 May 2012
Follow statutory compliance of Companies act

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