Appointmant of Company Secretary

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Sada Abdulkarim Dalvi (Querist)
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10 January 2011 Which compnay has to compulsorily appoint a full-time company secretary. Can a compnay having a paid up capital of Rs. 5 Crore opt to get Complince Certificate from a practicising CS or appoint him on retainership basis instead of appointing a whole time CS.

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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10 January 2011 Company has to appoint a company secretary by virtue of section 383A read with the notification in https://www.mca.gov.in/Ministry/notification/pdf/GSR11(E)_20jan2009.pdf

CS Taher

CS Taher (Expert)
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10 January 2011 Yes a Company having paid up capital of more than 5 crore rupees can appoint a Company Secretary on retainership basis instead of appointing a whole time Company Secretary.But for good corporate governance u should appoint a Whole time company Secretary whenever your paid up Capital Increases5crore limit.
A company secretary in whole time practice will help u in better running of affairs of your company and daily dealing with different regulatory agencies.
A company Secretary in whole time may also help u running other affairs of your company in ethical progressive way.

udit sharma

udit sharma (Expert)
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11 January 2011 As per the provisions of section 383A of the Companies Act, 1956, every company having a paid up share capital of Rs.5 Crores or more is required to appoint a whole time Company Secretary.

Regarding the appointment of Company Secretary on a retainership basis, i fully agree with the opinion of Expert Taher!

God Bless

CS Udit Sharma

Jayashree S Iyer

Jayashree S Iyer (Expert)
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11 January 2011 As per Section 383A a company having a paid up capital of 5 cores or more is required to appoint a Wholetime Company Secretary.

They cannot appoint a Company Secretary on retainership basis.

CS Taher

CS Taher (Expert)
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11 January 2011 I agree with Jayashree.
As per section 383A a Company having paid up capital of 5 crore or more is required to appoint a whole time company secretary, BUT the Word "Whole Time" is not defined under the provision of Companies Act 1956.
A Company Secretary on Retainership may come under the meaning of Whole-time.
The difference between Whole time and Retainership is the physical presence.
Whole time Company Secretary is physically present to advice matters whereas retainer is allways available for advice but he is not required to put daily attendence or work for fixed hours.

Waiting for other experts opinion.

Sada Abdulkarim Dalvi

Sada Abdulkarim Dalvi (Querist)
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16 January 2011 Thanks Taher Sir, but Can the company secretary appointed on retainership basis work with more than one company. Or a company secretary doing individual practice can be appointed on retainership basis.

CS Taher

CS Taher (Expert)
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16 January 2011 Company Secretary in practice is the 0ne who can be appointed as retainer...A company Secretary in practice can work as retainer with more than one Company there is no such restriction on upper ceiling....

Sada Abdulkarim Dalvi

Sada Abdulkarim Dalvi (Querist)
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16 January 2011 Thanks again Taher sir

CS Taher

CS Taher (Expert)
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16 January 2011 Provided a Company Secretary in practice shall not issue compliance certificate to more than 80 companies in a year, in case of company secretary of a firm acting as partners then the restriction of 80 companies would apply to each partner..

CS Taher

CS Taher (Expert)
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16 January 2011 Dear Sada Abdulkarim ur most welcome...

Message likes : 1 times

CMA Narendra Mundra

CMA Narendra Mundra (Expert)
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02 April 2013 Can a person who is CA & CS (holding COP of CA) be appointed as Company Secretary on Retainership basis.

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