Compliance certificate

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Querist : Anonymous

Querist : Anonymous (Querist)

12 October 2013 if any public ltd. co. have paid up capital of rs.9,78,28,700.......then what will be the applicability of compliance certificate?????

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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12 October 2013 Yes it is applicable in this case.

Ajay Mishra

Ajay Mishra (Expert)
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12 October 2013 APPOINTMENT OF COMPANY SECRETARY
(Section 383A & Companies (Appointment and Qualifications of Secretary) Rules, 1988)

1 Every company having paid-up share capital of not less than Rs. 5 Crores shall have whole time secretary [Rule 2(1)].

2 Where the paid up share capital is increased to Rs. 5 Crores or more, the Company shall appoint whole time secretary within a period of 1 year from the date of such increase [Proviso to Rule 2(4)].

3 A company having a paid up share capital of less than Rs. 2 Crores may appoint any individual, possessing qualification specified in Rule 2(4), as its whole time secretary to perform duties of secretary, and any other ministerial or administrative duties [Rule 2(3)].

4 A company having a paid up share capital of Rs. 2 Crores or more but less than Rs. 5 Crores may appoint any individual who is member of ICSI, as a whole time secretary [Rule 2(3A)].

5 A company having paid up capital of Rs. 10 lakhs or more but less than Rs. 5 Crores shall obtain Compliance Certificate from PCS provided if such company has appointed Whole Time Secretary who is member of ICSI then compliance certificate is not required to be obtained.

6 Where the BOD comprises only two directors, neither of them shall be secretary of the Company.

Ajay Mishra

Ajay Mishra (Expert)
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12 October 2013 Dear All.....

For such company, CS in whole time employment appointment is mandatory no need to take compliance Certificate.

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