The StartupLab : Compliance | Tech | Funding
Based on the Companies Act, 2013, it is required to appoint a statutory auditor within 30 days after forming the company. If unable to do that, it can impose huge fines. Here, the Startup Lab makes your process stress-free. With us, there will be no legal slips, no time wasted. Get smooth and timely ADT-1 filing services.
In short, if you’re handling auditor appointments or changes, this service is built for you.
Section 139 of the Companies Act, 2013 tells us clearly to fix an auditor and that too, within 30 days of forming your company. Then, you’re required to file Form ADT-1 with the MCA to notify the appointment. The first auditor serves until the end of the first AGM. And missing the filing deadline racks up a penalty of ₹300 per day for both the company and the directors.
Basically, choosing the Startup Lab is a smart move for any business that wants to run smoothly and confidently.
Make sure this is done within 30 days of incorporating your first auditor. Subsequent appointments are made in AGMs.
Yes, as per MCA circulars, ADT-1 must be filed even for the first auditor.
Yes. After 5 years, reappointment or rotation may be required.
Late fees and penalties apply. The Startup Lab helps you rectify delayed filings with legal support.
You are only required to follow this process if your turnover goes over ₹40 lakh or contributions go over ₹25 lakh. If not, you don’t need to follow.
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