Cs appointment - rules modified as per demand!

as per rule 8A, Private company above 5 cr., they need to appoint a whole time CS. Whether it will also appointed as KMP. Whether now Pvt. Co. also fall under to appoint KMP.

Second Question: if any company due to financing difficulty is not able to appoint CS, what will be consequences.

Is it applicable with immediate effect that means we have appoint CS with 60days or applible from next year 01-04-2015

Thanks

Hi Samir,

The amendment is effective from 09.06.2014

Pl refer article on  the amendment by Shri Vinod Kothari:

https://india-financing.com/images/Articles/Identifying_KMPs_in_company.pdf

Thanks sir for sharing this interesting article.

Pls also provide the soultion of second question

if any company due to financial difficulty is not able to appoint CS, what will be consequences.
 

“8A. Appointment of Company Secretaries in companies not covered under rule 8.—A company other than a company covered under rule 8 which has a paid up share capital of five crore rupees or more shall have a whole-time company secretary.”

That means , CS appointed on basis of 5 cr capital will not be a KMP , he will just be compliance Officer , but as per Rule 8 , Such CS will be designated as KMP when Paid up reaches 10 Cr and above.

Hi Rahul,

CS is always be included in KMP if he is under employment as CS. 

As per Rule 8A, company do not need to appoint any other KMP, only CS is required to be appointed.

Mohit sir , 

If CS is always KMP , Then there is a confusion , whether such company having paid up cap between 5Cr to 10Cr...are required to appoint CS as KMP , but not other KMP , that means such company are not worth of appointing other KMPs ?

Which is not convincing , thats why its so interpreted that , CS till 10 cr will be compliance officer.

Please share your views.

Thanks