Compliance certificate u/s. 383a

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Querist : Anonymous

Querist : Anonymous (Querist)

12 October 2012
Dear Members...

Please suggests, if a company increases its paid up capital from 1 lacs to 2 crores on 31/03/2012 .Should the same company is required to take compliance certificate from PCS for fianacial year 2011-12.

Thanks

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)

12 October 2012 Yes the company will have to take the compliance Certificate and file form 66.

CA C.JANANI

CA C.JANANI (Expert)

12 October 2012 Yes. Any company with share capital from Rs. 10 lakhs to 2 crores must file compliance u/s 383 A and file it with ROC within 30 days of AGM.

It does not matter if the change was done only on 31.3.2012, they have to comply .

Querist : Anonymous

Querist : Anonymous (Querist)

12 October 2012 Thanks for replies...

With Respect i want to update to CA C. Janani that the limit for obtaining the Compliance Certificate is raised to 5 Crores from 2 Crores paid up capital.

Ajay Mishra

Ajay Mishra (Expert)

12 October 2012 Hi

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.

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