Sec 383A- Deletion

Hi Priya,

This is true that in newly proposed Companies Bill, 2009, the section 383A is deleted. Rather Section 178 is introduced in its place in which the concept of KMP is introduced. KMP can be CEO, CFO or MD of the Company in addition to the CS. It means Company is not required to appoint only CS as KMP but MD or CEO can solve their purpose.

Some Members are going for protest against this on 30th August at NIRC, Prasad Nagar, New Delhi. Lets hope their efforts will save members from many hardships that members have to face if that bill is passed.

Regards

Sarabjeet Kaur