TMI BlogRemoval, resignation of auditor and giving of special noticeX X X X Extracts X X X X X X X X Extracts X X X X ..... al of the Central Government in that behalf in the prescribed manner: Provided that before taking any action under this sub-section, the auditor concerned shall be given a reasonable opportunity of being heard. (2) The auditor who has resigned from the company shall file within a period of thirty days from the date of resignation, a statement in the prescribed form with the company and the Registr ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... n a retiring auditor, or providing expressly that a retiring auditor shall not be re-appointed, except where the retiring auditor has completed a consecutive tenure of five years or as the case may be, ten years, as provided under sub-section (2) of section 139. (ii) On receipt of notice of such a resolution, the company shall forthwith send a copy thereof to the retiring auditor. (iii) Where noti ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... t to be heard orally) require that the representation shall be read out at the meeting: Provided that if a copy of representation is not sent as aforesaid, a copy thereof shall be filed with the Registrar: Provided further that if the Tribunal is satisfied on an application either of the company or of any other aggrieved person that the rights conferred by this sub-section are being abused by the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... f receipt of such application, make an order that he shall not function as an auditor and the Central Government may appoint another auditor in his place: Provided further that an auditor, whether individual or firm, against whom final order has been passed by the Tribunal under this section shall not be eligible to be appointed as an auditor of any company for a period of five years from the date ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... punishable with fine which shall not be less than 1 [fifty thousand rupees or the remuneration of the auditor, whichever is less,] but which may extend to five lakh rupees. 3. Substituted vide THE COMPANIES (AMENDMENT) ACT, 2020 dated 28-09-2020 before it was read as five lakh rupees - - statute, statutory provisions legislation, law, enactment, Acts, Rules, Regulations, Taxation Tax Management ..... X X X X Extracts X X X X X X X X Extracts X X X X
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