This is to inform you all that yesterday Companies Bill, 2011 has been introduced in parliament.
As per section/clause 203 of Companies Bill, 2011 the Company Secretaries are recognized as whole-time key managerial personnel. Also Companies Bill, 2011 has made the appointment of Company Secretary mandatory.
Please check below the text of section/clause 203 of Companies Bill, 2011:
203. (1) Every company belonging to such class or classes of companies as may be prescribed shall have the following whole-time key managerial personnel,—
managing director, or Chief Executive Officer or manager and in their absence, a whole-time director; and
Provided that unless the articles of such a company provide otherwise, an individual shall not be the chairperson of the company as well as the managing director or Chief Executive Officer of the company at the same time.
Please share your opinion.
Total thanks : 5 times