Appointment of Company Secretary

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Querist : Anonymous

Querist : Anonymous (Querist)

15 December 2009 A company upon crossing Rs.5 crore paidup capital, it is mandatory that company should appoint a company secretary. What are the timelines for appointment of CS in such case and filing of form 32 to ROC.

URGENT REPLY REQUESTED

CS Pawan Kumar Baid

CS Pawan Kumar Baid (Expert)

15 December 2009 Sec 383A provides that within 1 year from the date on which capital is crossing 5 crore, company must appoint CS in full time employment. He is appointed by Board of Directors, and within one month of his appointment e-Form 32 is filed.

Regards
CS Pawan Kumar Baid

CA Ravi Sisodia

CA Ravi Sisodia (Expert)

15 December 2009 Agree with Mr.pawan , i think limit of paid up share capital reduced to Rs.2 crore as per amandment.

Querist : Anonymous

Querist : Anonymous (Querist)

16 December 2009 Thank you so much for the replies.

Please correct my understanding if its wrong anywhere.

According to latest amendment WEF 15.03.09
A company having a paid up share capital of Rs.2 crs or more but less than Rs.5 crs
may appoint qualified CS as a whole-time secretary. Such company is not require to obtain compliance certificate from PCS.

In our case, threhold of Rs.5 crs is crossed on 28 Nov 08, so a wholetime CS can be appointed by 27 Nov 09 and filing form 32 with ROC shall be 26 Dec 09.

Please advise