New Cracking SEBI General in 60 Days - Possible or Not?
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Question

The first auditor of a company (other than government company) is appointed by the ______ within ______ of registration of the company by passing a valid resolution.

A Board of Directors; 30 days Correct Answer Incorrect Answer
B Board of Directors; 90 days Correct Answer Incorrect Answer
C Government; 60 days Correct Answer Incorrect Answer
D Share holder; 120 days Correct Answer Incorrect Answer

Solution

First Auditor of a company, other than Government company, to be appointed by the Board of Directors within 30 days of registration of the Company. Upon failure by Board to do so, the shareholders to appoint first auditor within 90 days in an Extraordinary General Meeting (EGM); such auditor to hold office till conclusion of first annual general meeting (AGM).

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