Section 37 in The Maharashtra Non-Trading Corporations Act, 1959
37. Appointment of auditors.
(1)Every corporation shall, at each annual general meeting, appoint an auditor or auditors qualified for appointment as such to hold office from the conclusion of that meeting until the conclusion of the next annual general meeting:Provided that the first auditor or auditors of a corporation shall be appointed by the Board of directors within one month of the date of registration of the corporation:Provided further that a corporation may, at a general meeting, remove any such auditor or all or any of such auditors and appoint in his or their places any other person or persons.(2)The remuneration of the auditors shall be such as may be fixed by the corporation in a general meeting or in such manner as the corporation in general meeting may determine.(3)A person shall not be qualified for appointment as auditor–(a)unless he is a chartered accountant within the meaning of the Chartered Accountants Act, 1949 or is authorised by the State Government in this behalf;(b)if he is an officer or employee of the corporation;(c)if he is a partner or is in employment of, an officer or employee of the corporation.
