Appointment fulltime CS for Pvt Ltd Co.

If the company crosses its paid up capital more than 2 crores then by section 383A of the Companies Act 1956 it is complusary for the company to appoint a full time company secretary as its Employee.

Thnak you Shilpa for valuable information

Every Co. having a paid up capital of Rs. 2 crore or more must appoint a whole time Company Secretary whether it is a Public or a Private Company.

Every Company having a paid up share capital of Rs. 10 lakhs or more but less than Rs. 2 crores need not appoint a whole time company secretary. However such companies must obtain a compliance certificate from a practicising C.S.

Astha is correct.

Shilpa & Asstha is correct

 Amended & Applicable Provision from 15th March 2009:

Get Mandatory Compliance Certificate: in Two cases 

·2                               1)   if your share capital is between 50 lakhs & 2 crores;

·22                  2)    if your share capital is between 2 crores & 5 crores and you have not appointed whole time company secretary.

Mandatorily appoint a Whole Time Company Secretary: In these  cases

·                               1)   if your share capital is between 2 crores & 5 crores and you have not got the Compliance Certificate;

·                               2)   if your share capital is above 5 crores.

And, NO special provisions for Companies having its registered office in a place with a population of less than one lakh as per 2001 census.

Dear Shilpa and Astha,

The limit of 2 Crores has been increased to Rs. 5 Crores w.e.f. 15/03/2009.