PQR Textiles Ltd., a listed company covered under the relevant Rules and Section 148 of the Companies Act, 2013 for appointment of Cost Auditors, has appointed CMA Suresh as cost auditor of the company for the financial

Procedure for the re-appointment of the Cost Auditor of PQR Textiles Ltd., a listed company covered under the relevant rule i.e. Rule 3 and 4 of the Companies (Cost Records and Audit) Rules, 2014 and section 148 of the Companies Act, 2013 is as under:- The company shall within one hundred and eighty days of the commencement of every financial year, appoint a cost auditor. The audit committee, if constituted by the company shall ensure that the cost auditor is free from any dis- qualifications. The audit committee shall obtain a certificate from the cost auditor certifying his independence. Every such company shall inform the cost auditor concerned of his or its appointment as such and file a notice of such appointment with the Central Government within a period of thirty days of the Board meeting in which such appointment is made or within a period of one hundred and eighty days of the commencement of the financial year, whichever is earlier, through electronic mode, in form CRA-2, along with the fee as specified in Companies (Registration Offices and Fees) Rules, 2014. On filing the application, the same shall be deemed to be approved by the Central Government, unless contrary is heard within 30 days from the date of filing of such application. If within thirty days from the date of filing of such application, the Central Government directs the company to re-submit the said application with additional information the period of thirty days for deemed approval of the Central Government shall be counted from the date of re-submission by the company. After the expiry of thirty days, the company shall issue formal letter of appointment to the cost auditor. The audit committee, if constituted by the company recommends to the Board a suitable remuneration to be paid to the cost auditor. In the case of those companies which are not required to constitute an audit committee, the Board shall consider and approve the remuneration of the Cost Auditor which shall be ratified by shareholders subsequently. Every cost auditor appointed as such shall continue in such capacity till the expiry of one hundred and eighty days from the closure of the financial year or till he submits the cost audit report, for the financial year for which he has been appointed.