ADT-1 is a form used for intimating the Registrar of Companies about the appointment of the first auditor of a company. According to the Companies Act 2013, every company must appoint its first auditor within thirty days of Company incorporation. Once the auditor has been appointed, the company must file Form ADT-1 with the ROC within fifteen days of the appointment.
The first auditor appointed by the company holds office until the conclusion of the first Annual General Meeting (AGM). The AGM should be kept within nine months from the end of the fiscal year in which the company was incorporated. At the AGM, the shareholders of the company can either ratify the appointment of the first auditor or appoint a new auditor for the company.
Appointing an auditor for the first time can be overwhelming for a new company. However, complying with the provisions of the Companies Act is crucial to avoid any legal consequences in the future. It is a mandatory compliance requirement for companies in India, and failure to file Form ADT-1 can result in penalties and fines.
IndiaFilings can assist you in filing Form ADT-1 and help you comply with the legal requirements for the appointment of an auditor for your company.
Form ADT-1 is an intimation filed by companies with the Registrar of Companies about the appointment of an auditor after the conclusion of the Annual General Meeting (AGM) under Section 139 (1) of the Companies Act, 2013. It is mandatory for companies to file this Form every year with the ROC as a notice of appointment of an auditor after the AGM, where the new auditor was named.
Form ADT-1 contains details such as the name, address, and qualifications of the appointed auditor. It is essential for companies to file this Form within 15 days of the AGM to ensure compliance with legal requirements and avoid any penalties or fines.
Form ADT-1, as it is mandatory for all companies to file this Form with the Registrar of Companies. Every company that has appointed an auditor, whether it is a public, private, listed, or unlisted company, it must file Form ADT-1 within the prescribed time frame.
However, to file Form ADT-1, the company should have appointed an auditor as per the provisions of the Companies Act 2013. The auditor should also have provided written consent for their appointment as the auditor of the company. Additionally, the auditor should also provide a certificate stating that they are not disqualified or ineligible to be appointed as an auditor under Section 141 of the Companies Act, 2013.
In the case of new company incorporation, Form ADT-1 must be filed within fifteen days from the company's first board meeting, which must be held within 30 days of company incorporation in which the board of directors of the company appoints an auditor.
Form ADT-1 should be filed for an existing company within 15 days after the Annual General Meeting (AGM) in which the auditor was appointed or reappointed, as the case may be. For instance, if the company's AGM was conducted on September 30, 2023, the company should file Form ADT-1 by October 14, 2023.
Companies need to file Form ADT-1 within the specified timeline to avoid any penalties or fines. IndiaFilings can assist companies in ensuring compliance with all legal requirements and Filing Form ADT-1 within the prescribed timeline.
The following information from the auditor is to be furnished in Form ADT-1:
Documents Required for Filing Form ADT-1 is listed as follows:
The due date and filing penalty of the Form ADT 1 will lead to the imposition of the following penalties:
|Sl.No||Delay in Filing (in number of days)||Penalty Leviable|
|1||Up to 30 days||Two times of Normal Fees|
|2||More than 30 days and upto 60 days||Four times of Normal Fees|
|3||More than 60 days and upto 90 days||Six times of Normal Fees|
|4||More than 90 days and upto 180 days||Ten times of Normal Fees|
|5||More than 180 days||12 times of Normal Fees|
Some other important points to consider regarding Form ADT-1:
IndiaFilings can help in filing FORM ADT-1 by providing expert assistance and guidance throughout the process. Our services include:
By availing of our services, the company can save time and effort and ensure a hassle-free filing of FORM ADT-1 with the Registrar of Companies.
In addition to registration or incorporation, a business may require other registrations depending on the business activity undertaken. Talk to an Advisor to find out registrations your business may require post registration.
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