Resignation of company secretary
This query is : Resolved
deepak agarwal
(Querist)
21 January 2013
What is the time limit for appointment of a new company secretary in a listed company where the previous company secretary resigned?
Ajay Mishra
(Expert)
21 January 2013
Hi
Time period is not defined in that case, but before next meeting, Secretary should be appoint to comply the formalities of Regulatory Authorities.
Time period is not defined in that case, but before next meeting, Secretary should be appoint to comply the formalities of Regulatory Authorities.
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Ajay Mishra
(Expert)
21 January 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.
(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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deepak agarwal
(Querist)
21 January 2013
Thanks Ajay ji thanks a lot.
Can a Asstt. Company Secreatry or the MD. of the company comply the formalities of Regulatory Authorities?
Can a Asstt. Company Secreatry or the MD. of the company comply the formalities of Regulatory Authorities?
Ajay Mishra
(Expert)
21 January 2013
Hi
Yes, he can do for a short duration, but where the mandatory provisions of Companies Act, 1956 or SEBI Regulation demand, then it is necessary to have whole time CS.
For temporary basis, the assistant CS can complete all formalities.
Yes, he can do for a short duration, but where the mandatory provisions of Companies Act, 1956 or SEBI Regulation demand, then it is necessary to have whole time CS.
For temporary basis, the assistant CS can complete all formalities.
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