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The appointment of statutory auditors require filing of Form ADT1 within 15 days of the AGM. The act permits appointment of statutory auditor for more than a year with ratification by shareholders at every AGM. Form ADT1 does not have field relating to the period for which the stat.auditor is appointed. However Form GNL2 to which ADT1 is to be attached has to be filled with financial year to which it applies. Should we state just one year that is the 1st yr or the entire tenure say 3 yrs or 5 yrs as the case may be in GNL2?. Should the ratification be followed by filing of ADT1 within 15 days every year for the whole tenure? Though a similar query is recently raised, I would like to have specific reply. Hence the query.

Auditors

Posted By: Latha 10 year(s) ago

This question has been closed if you want to answer,you have to re-open.


Expert    Ankit Singhi

ADT-1 is required to be filed at once with Registrar as it is specifically written in the 4th proviso of section 139(1) that the notice of appointment shall be filed within 15 days of the meeting in which auditor is appointed. In case of appointment of auditor at the AGM and its further ratification every year , we are of the view that it should be filed only at the time of appointment and not at every ratification. So keeping in view the same , you can fill the entire tenure in the GNL-2

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