04 December 2012
we hv a pvt ltd & ltd co.having paid up capital above Rs.5 crores,so as per companies act we need to appoint a whole time company secretary.We have given paper advertisement in hindi as well as english edition.But we have not got suitable canditate for this CS post.So now we want to appoint a CS firm to look after all the company secretarial jobs as retainership basis.My question is it accetable to appoint C S firm retainership is valid under co's act.
04 December 2012
Failure to comply with section 383A
Where a company having paid-up share capital of Rupees Five Crores or more fails to employ a whole-time secretary, the company and every officer of the company who is in default shall be punishable with fine upto Rs. 500 for every day during which the default continues: Provided that in any proceedings against a person in respect of an offence under this section, it shall be a defence to prove that all reasonable efforts to comply with the provisions of section 383A(1) were taken or that the financial position of the company was such that it was beyond its capacity to engage a whole-time secretary.
04 December 2012
I would answer the other was round that appointment of CS firm is permissible but it will not be for complaince of provisions of section 383A and also as mentioned above you could always show reasonable cause i. e. unable to find suitable canditate for this CS post. Also do keep a copy of the ads.
04 December 2012
Appointment of CS Firm is Noncompliance for section 383A of the companies Act . Only member of ICSI not holding COP is allowed to be appointed as CS in Company
09 December 2012
All CS qualified professional are suitable and expert in the field of corporate law & corporate advisories. I wonder how you are not getting a suitable CS candidate, please send me your company details i will try to recommend CS for the requirement of your region.
And let me tell you dont try the "not getting suitable candidate trick" that is outdated now the ROC of each region strictly question the intention of companies not appointing a wholetime CS.
CAclubindia
