According to section 139 (1) of the New Companies Act 2013, after appointing an auditor, a company must notify the ROC in a certain way. This is accomplished through the use of Form ADT-1. Learn about Auditor Appointment form ADT-1 through this article.
What exactly is an ADT-1 form?
When a company names an auditor after its annual general meeting is over, it notifies the registrar of companies using Form ADT-1 (AGM).
This document must be filed annually following the AGM at which the auditor was appointed under Sec 139 (1) of the new Companies Act 2013.
When should MCA Form ADT-1 be submitted?
When a new company is formed, the board of directors must select an auditor and file Form ADT-1 within 15 days after the company’s initial board meeting, which must take place within 30 days of company incorporation.
Existing companies must submit Form ADT-1 to their registrar of state within 15 days of the annual meeting at which their auditor was first appointed or, if applicable, reappointment. For example, a company that holds its annual meeting on September 30th, 2021, must submit Form ADT-1 no later than October 14th, 2021.
Document Requirement for Filing ADT-Form 1
- Annual shareholder meeting resolution copy/company board resolution
- Appointment subject to receipt of Auditor’s written approval.
- Auditor’s declaration that he or she is not unqualified to serve as an auditor under section 141 of the Companies Act
- Company’s notification to the auditor in copy form
Government fee for filing Form ADT-1
|Sl.No||Share Capital Value of the Company||Fee in (Rupees)|
|1||Less than 1,00,000||200|
|2||1,00,000 to 4,99,999||300|
|3||5,00,000 to 24,99,999||400|
|4||25,00,000 to 99,99,999||500|
|5||1,00,00,00 or more||600|
|6||Company not having share capital||200|
Penalty for Delay in Filing Form ADT-1 Form
|Sl.No||Delay in Filing (No of days)||Penalty|
|1||Up-to 30||2 times of Normal Fees|
|2||More than 30 to 60||4 times of Normal Fees|
|3||More than 60 to 90||6 times of Normal Fees|
|4||More than 90 to 180||10 times of Normal Fees|
|5||More than 180||12 times of Normal Fees|
Important points to keep in mind for ADT-1 Form
- Every company, whether listed, unlisted, public, private or any other type of corporate entity, must legally submit Form ADT 1.
- The auditor is not obligated to file Form ADT 1, only the company.
- Even though the auditor has been hired for a temporary position, the company is still required to complete Form ADT 1.
- ADT 1 can be electronically submitted. The form may be obtained from the Ministry of Corporate Affairs (MCA) website.
- E-form approval is automatic
- A confirmation email is sent to the registered email ID after the competent authority has registered the E-form.
When it comes to the selection of an auditor for your company, Form ADT-1 is of the highest significance. Companies are required to submit these Forms within the allotted 15-day window.
With the development of technology, you can now easily file your ADT-1 Form online by hiring our team of professionals.
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