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Appointment of a new Compliance Officer in place of existing

C.S. Rajesh Pillai (Company Secretary and Compliance Officer) (181 Points)

01 November 2010

Our existing Director is resigning from the Board. He is the Compliance Officer also.

The Company is a LISTED COMPANY

We are appointing a new Director cum Compliance Officer in the Board Meeting .

How the same is to be intimated to Stock Exchange ?

1) Whether by mentioning in the Notice calling Board Meeting to Stock Exchange

2) By way of intimation of the outcome of Board Meeting?

Your early response is highly appreciated

regards,

Rajesh Pillai

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8 Replies

HARDIK (COMPANY SECRETARY NCFM (Corporate Governance )) (664 Points)
Replied 01 November 2010

Intimate the Stock Exchange about the Board meeting. Also intimate the stock exchange about the outcome of board meeting.

HARDIK (COMPANY SECRETARY NCFM (Corporate Governance )) (664 Points)
Replied 01 November 2010

Intimate the Stock Exchange about the Board meeting. Also intimate the stock exchange about the outcome of board meeting.

1 Like

CS Ankur Srivastava (Company Secretary & Compliance Officer) (17848 Points)
Replied 01 November 2010

Dear Rajesh,

First of all as per Clause 47(a) of the Listing Agreement. Company required to appoint Company Secretary to act as Compliance Officer.

Therefore, in terms of listing agreement only Company Secretary can be a Compliance Officer.

However, in your case......

Nothing to inform before the meeting regarding this matter.

After the meeting send a letter informing about the new Compliance Officer. Simultaneously, also inform to the NSDL , CDSL and RTA. There is no specified time limit but you should send this intimation at the earliest.

No need to send outcome of board meeting within 15 minutes, regarding this matter.

1 Like

swapnil (CA Final) (598 Points)
Replied 01 November 2010

thanks ankur sir to understand new concept,

thanks 4 sharing ith us,

gaurav (trainee ca final and cfa student) (80 Points)
Replied 01 November 2010

thanks for replying sir,may u let me know what is RTA?

CS Ankur Srivastava (Company Secretary & Compliance Officer) (17848 Points)
Replied 02 November 2010

RTA is Registrar and Share Transfer Agent of the company..

Ananad (Company Secretary) (38 Points)
Replied 02 December 2010

Dear Ankur,

related queries:-

1. If a Director appointed as the Compliance officer whether they may be termed as the whole time Director by virtue of his/her position?

2. A Director appointed as the Compliance Officer in a Company and subsequently they were appointed as a Whole time director of the other Company. Can it be in compliance of the Companies Act, 1956 and SEBI.

Thanks in anticipation

Kanan.