While filing MR-1 for the appointment of CS in a listed Company, is it mandatory to attach appointment letter from Nomination & Remuneration Committee for the said appointment with it? If yes, Kindly send me a format for the same.
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Appointment of cs in a listed company
Replies (6)
Ms. Jayanti,
yes its mandatory for them to attach appointment letter.
I suppose attachment of appointment letter is not mandatory. The Board resolution approving the appointment of CS / KMP would suffice the requirement. The appointment letter may contain terms and conditions specific to a Commpany, which is not required to be given into public domain. Also, Nomination & Remuneration Committee is empowered only to recommend appointment (Sec 178(2) of the Act) and decision of the Board would be final.
It is not Mandatory, but it is attached for good corporate governance.
I was responding to whether it is not mandatory or not. Also practically, am not sure how many company secretaries would want to have their appointment terms and conditions in public domain, although the remuneration particulars would be available in Director's report at the end of the financial year.
The board resolution is enought to file the form. Appointment letter is not mandatory.
File MR-1 with
1. True Extract of Board Resolution
2. Consent Letter of Company Secretary
Regards,
Arjun Rajagopal
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