Question ID : 40413

First auditor appointment

Dear sir, If the company incorporation date is 23rd March 2018,then company appointed the first auditor as on 2nd January 2019(since the cop of auditor effect from 31st December 2018) whether it is is valid appointment or not? If yes,is there any late fee for company for late appointment?

Answer ID : 80189

As per sec 139(6) of the companies act 2013 company shall appoint first auditor within 30 days from the date of incorporation and shall file form ADT-1.Otherwise company shall pay penalty

Answer ID : 80196

Violated section 139(6). Penalty attracts per 147(1).

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