139 clause companies bill

Discussion in 'Co bill 2008' started by Meetu, Feb 18, 2014.

  1. Meetu

    Meetu Member

    No listed company or a company belonging to such class or classes of companies as may be prescribed, shall appoint or re-appoint— (a) an individual as auditor for more than one term of five consecutive years; and (b) an audit firm as auditor for more than two terms of five consecutive years Does that mean appoint ment of auditors in general meeting has been done away with and auditor can be appointed for 5 years' term or auditor can be appointed only for term?

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