Key managerial personnel rule 8a & 8

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sandeep (Querist)
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30 March 2015 Rule 8 says that a listed co. And other public co. Having paid up capital 10 crore or more shall have KMP and read together 8A says that "other than a company" Covered under rule 8 which has a paid up capital 5 crore or more shall have a whole time CS ...... My question to all my friends and worthy experts is that
1- whether pvt. Ltd co. Will be included in "other than company" or not....... ?
2- whether CS appointed by unlisted co. Having paid up capital exceed 5 crore but below 10 crore shall be treated as KMP or not......?

CS Mitesh Mehta

CS Mitesh Mehta (Expert)
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30 March 2015 1. Yes.
2. Yes. CS appointed by unlisted company shall be trated as KMP

The definition of Key Managerial Personnel under section 2 (51) includes a company secretary. Thus, where a company appoints a company secretary, whether
mandated by law or not, he will be treated as a KMP. Accordingly, the company secretary appointed pursuant to Rule 8A would be treated as a KMP of the Company
and such a person would need to abide by the provisions of Section 205 of the Act,2013 (relating to functions of company secretary). Such a person would also be treated as an officer in default and the liabilities of a KMP would be equally
applicable on him.

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sandeep

sandeep (Querist)
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02 April 2015 thank u sir .........

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