Ratification of the Remuneration of Cost Auditors
To consider and if thought fit to pass, the following resolution as an Ordinary Resolution:
“RESOLVED THAT pursuant to the provisions of Section 148(3) and other applicable provisions, if any, of the Companies Act, 2013 (“Act”), (including any statutory modifications or re-enactments thereof, for the time being in force) read with the Companies (Audit and Auditors) Rules, 2014, as amended from time to time, the Company hereby ratifies the remuneration of Rs. _________/- (Rupees _______ only) plus taxes and reimbursement of out-of-pocket expenses incurred in connection with the cost audit, payable to M/s ________, Cost Accountants (Firm Registration Number _________), who are appointed by the Board of Directors of the Company, as Cost Auditors, to conduct the audit of the cost records maintained by the Company for the financial year ending ___________.
RESOLVED FURTHER THAT the Board of Directors of the Company (including any Committee thereof) be and is hereby authorised to do all acts and take all such steps as may be necessary, proper or expedient to give effect to this resolution.”
Explanatory Statement
Item No: ____
Ratification of the remuneration of Cost Auditors
The Company is required, under the provisions of Section 148(3) of the Act, read with the Companies (Cost Records and Audit) Rules, 2014 (“the Rules”), as amended from time to time, to have the audit of its cost records conducted by a cost accountant in practice.
The Board, based on the recommendation of the Audit Committee, has approved the appointment and remuneration of M/s. _________, Cost Accountants, (Firm Registration Number _____), as the Cost Auditors to conduct the audit of the cost records of the Company, for the financial year ending ________.
As per the provisions of Section 148 of the Act, read with the Companies (Audit and Auditors) Rules, 2014, the remuneration payable to the Cost Auditors as recommended by the Audit Committee and approved by the Board of Directors, has to be ratified by the Members of the Company. Accordingly, consent of the Members is sought for passing an Ordinary Resolution as set out at Item No.______ of the Notice for approval of the remuneration of Rs _________/- (Rupees _______only) payable to the Cost Auditors, for the financial year ending ______.
The Board commends the Ordinary Resolution set out at Item No. ______ of the Notice for approval by the Members.
None of the Directors and Key Managerial Personnel of the Company or their respective relatives are, in any way, concerned or interested, in the Resolution set out at Item No. _____ of the Notice.