Hi Experts,
Can anyone provide me criteria for appointment of fulltime secretary for Pvt Ltd Company
Thanks in advance
NITIN
Nitin Katira (Account Officer) (50 Points)
10 April 2008Hi Experts,
Can anyone provide me criteria for appointment of fulltime secretary for Pvt Ltd Company
Thanks in advance
NITIN
shilpa
(company secretary in practice)
(148 Points)
Replied 10 April 2008
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.
Nitin Katira
(Account Officer)
(50 Points)
Replied 10 April 2008
Thnak you Shilpa for valuable information
astha
(CA, CS)
(85 Points)
Replied 16 April 2008
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.
Abuzar Azmi
(Employment)
(330 Points)
Replied 30 October 2009
Amended & Applicable Provision from
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.
CS Ankur Srivastava
(Company Secretary & Compliance Officer)
(17848 Points)
Replied 31 October 2009
Dear Shilpa and Astha,
The limit of 2 Crores has been increased to Rs. 5 Crores w.e.f. 15/03/2009.
CAclubindia
