Our company has a paid up capital of MINR 720.
Our existing company secretary who was in wholetime employment has resigned.Do we need to employ a wholetime company secretary or can we appoint a company secretary on a retainership basis.
If the company secretary is on a retainership basis, do we need to file form 32
| Originally posted by :INDRANIL MOULIK | ||
| " | Our company has a paid up capital of MINR 720. Our existing company secretary who was in wholetime employment has resigned.Do we need to employ a wholetime company secretary or can we appoint a company secretary on a retainership basis. If the company secretary is on a retainership basis, do we need to file form 32 |
" |
Pursuant of Section 383A of the Companies Act, 1956 read with Companies (Appointment & Qualification of Secretary) Rules, 1988 and the recent Notification No. G.S.R.11(E) dated 05.01.2009, a company whose paid-up capital is Rs. 5 Crore or more is mandatorily required to appoint Company Secretary. However, it is optional for a company whose paid-up capital is between Rs. 10 lakh and less than Rs. 5 crore to appoint a Company Secretary on whole time employment basis; in case it opts not to appoint a Company Secretary on whole time employment basis, it is required to obtain compliance certificate from the Company Secretary in whole time practice(PCS). The above notification is effective from 15.03.2009.
Where a company obtains compliance certificate for PCS, there is no need to file Form No.32 either at the time of engagement or at the time of change or cessation of such PCS.
Pursuant of Section 383A of the Companies Act, 1956 read with Companies (Appointment & Qualification of Secretary) Rules, 1988 and the recent Notification No. G.S.R.11(E) dated 05.01.2009, a company whose paid-up capital is Rs. 5 Crore or more is mandatorily required to appoint Company Secretary. However, it is optional for a company whose paid-up capital is between Rs. 10 lakh and less than Rs. 5 crore to appoint a Company Secretary on whole time employment basis; in case it opts not to appoint a Company Secretary on whole time employment basis, it is required to obtain compliance certificate from the Company Secretary in whole time practice(PCS). The above notification is effective from 15.03.2009.
Where a company obtains compliance certificate for PCS, there is no need to file Form No.32 either at the time of engagement or at the time of change or cessation of such PCS.
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