MCA has issued Removal of Difficulties Third Order 2016 on 30.06.2016 to remove difficulty in complying with provision relating to rotation of Auditors within specified time limit. The third Proviso of Section 139 (2) is modified and the time period to comply with provisions relating to rotational change; instead of 3 years from the date of commencement of the Act has been changed to the date not later than the date of 1st AGM held after 3 years from commencement of the Act.
The said Order can be accessed at the following link:Order S.O. (E) Companies Removal of Difficulties 3rd Order_2016 sec 139