Key managerial personnel rule 8a & 8

This query is : Resolved

sandeep (Querist)
Follow

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)
Follow

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.

Message likes : 1 times

sandeep

sandeep (Querist)
Follow

02 April 2015 thank u sir .........

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

K.Govindarajan

Prakash J C

Sharang Sanjay Mangalekar

ATUL MAKWANA

Leena

Subscribe Now

Key managerial personnel rule 8a & 8

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

CA Final

Accountant

Senior Executive

GST CONSULTANT

GST CONSULTANCY

Manager- Finance and Compliance