Form 66 or company secretary

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RAM LAL (Querist)
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07 December 2011 There is a limited company having paid up capital 11 crore. whether form 66 applicable. or they have to appoint whole time company secretry.

Reply along with applicable section or provision.

Regards,
Ram

RG - A Helping Hand

RG - A Helping Hand (Expert)
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07 December 2011 You have to mandatorily appoint whole time CS as your paid up capital is Rs. 5 crore.

RG

RAM LAL

RAM LAL (Querist)
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07 December 2011 BUT THE company director says that this section is not applicable for their company. is it possible in any circumstances ?

also tell me what is the penal provision , if company does not appoint a whole time company secretary .

RG - A Helping Hand

RG - A Helping Hand (Expert)
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07 December 2011 Your director is wrong.

Kindly check the link below for exact provision:

https://www.citehr.com/140772-company-secretary-compliance-certificate-2crores-5-crores-appointment-amend.html

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Charu Srivastava

Charu Srivastava (Expert)
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07 December 2011 Section 383A of the Companies ACt 1956, Every company having paid-up share capital of 5 crores or more shall have a whole-time secretary and where the Board of directors of any such company comprises only two directors, neither of them shall be the secretary of the company.

1A) If a company fail to comply with the provisions of sub-section (1), the company and every officer of the company who is in default, shall be punishable with fine which may extend to 5[five hundred rupees] for every day during which the default continues.

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