Any casual vacancy, shall be filled by the Board within 30 days. If the vacancy has arisen due to resignation of auditor then such appointment shall also be approved by the company at a general meeting convened within 3 months of the recommendation of the Board.
Instances of casual vacancy :- i) Death ii) Resignation iii) Disqualification – If an existing auditor gets disqualified under Section 141 then he shall inform the company and the situation will be treated as casual vacancy [Section 141(4)] iv) Failure of ratification at AGM – If the ratification resolution fails at the AGM of company then this also tantamount to casual vacancy(explanation to rule 3).
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1. Preparation of Board Meeting & General Meeting documents for appointment of auditor;
2. Preparation of Board Meeting of resignation of auditor;
3. Preparation of documents for attachment in e-forms;
4. Preparation of e-forms;
5. Arranging for Certification of e-forms;
6. Resubmission of e-forms, if any.
E-form ADT-1, towards the appointment, is required to be filed within 15 days from the date of appointment, i.e. Board meeting held to fill casual vacancy. SRN of the e-form ADT-3 filed by the previous Auditor is to be mentioned in ADT-1 (appointment form of new Auditor). So, ADT-3 Shall be filed before ADT-1.
The Board of Directors will appoint an auditor within 30 days of arising of casual vacancy. If the CAG of India fails to appoint the auditor within the aforesaid 30 days, the Board of directors will make the appointment within the next 30 days.
Form ADT-1 is required to be file for appointmemt of Auditor in case of Casual Vacancy.
Casual vacancies may arise through the death, resignation or disqualification of the sitting member, or for other reasons. Casual vacancies have the effect of eliminating or reducing the representation for the member's constituency. Accordingly, many jurisdictions provide by law for the speedy filling of vacant seats.