Penalty of Rs. 20 lakh on non-appointment of CS

CS Divesh Goyal | Last updated: 22 May 2023

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Companies falling under specific categories, including listed companies and those with paid-up capital of ten crore rupees or more, are legally required to appoint a full-time Company Secretary. Recent actions by the Registrar of Companies in Kolkata highlight the serious consequences of non-compliance, with one company facing a penalty of Rs 20 lakh for failing to appoint a Company Secretary since its incorporation. This penalty includes fines for the company and its directors, underscoring the importance of adhering to these regulations.

SHORT SUMMARY Section 203 of the Company Act of 2013, as amended by Rule 8 (Appointment and Remuneration of Managerial Personnel) Rule of 2014. Every firm that belongs to the class or classes of companies specified in section 203(1) of the firm Act 2013 must have the following full-time key pe

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About the Author

CS Divesh Goyal

Practicing Compnay Secretary

CAREER PROFILE He is a Fellow Member of the Institute of Companies Secretaries of India having intense expertise in Corporate Law for the last 8 years. He is a young and progressive Practicing Company Secretary with zeal to dig deep into the nuances of Corporate Laws. Being a researcher at heart, he has done ... Read more

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