Audit Committee resolution format for recommending the statutory auditor and fees under Sections 177(4)(i) and 139(11), with Rule 3 evaluation and consent.
“RESOLVED THAT pursuant to Sections 139(11) and 177(4)(i) and other applicable provisions, if any, of the Companies Act, 2013 read with Rules 3 and 4 of the Companies (Audit and Auditors) Rules, 2014 [and Regulation 18 read with Part C of Schedule II to the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015], the Audit Committee, having considered the qualifications, experience and independence of M/s [●], Chartered Accountants (Firm Registration No.: [●]), and the written consent and eligibility certificate received from them, hereby recommends to the Board of Directors their appointment as the Statutory Auditors of the Company for a term of five consecutive years from the conclusion of the [●] Annual General Meeting until the conclusion of the [●] Annual General Meeting, for the approval of the members.
RESOLVED FURTHER THAT the Committee recommends a remuneration of ₹[●] (Rupees [●] only) for the financial year [●], plus applicable taxes and out-of-pocket expenses, with the remuneration for subsequent years to be recommended by the Committee, and the Company Secretary be and is hereby authorised to place this recommendation before the Board and to do all such acts, deeds and things as may be necessary for giving effect to this resolution.”