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Auditor remuneration under Companies Act must be fixed by general meeting; board sets first auditor and expenses included. The provision requires that the remuneration of a company's auditor be fixed in the general meeting or as determined thereby, with the board permitted to fix remuneration for the first auditor it appoints; such remuneration includes the auditor's fee, audit-related expenses and facilities but excludes payment for other services rendered at the company's request.
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Provisions expressly mentioned in the judgment/order text.
Auditor remuneration under Companies Act must be fixed by general meeting; board sets first auditor and expenses included.
The provision requires that the remuneration of a company's auditor be fixed in the general meeting or as determined thereby, with the board permitted to fix remuneration for the first auditor it appoints; such remuneration includes the auditor's fee, audit-related expenses and facilities but excludes payment for other services rendered at the company's request.
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