Under the provisions of Section 203 of the Companies Act 2013, Every Company is required to appoint a company secretary having a paidup share capital of 10Cr is required to appoint a company secretary
Enclosed below is the extract of provision of Section 203. Kindly refer
(1) Every company belonging to such class or classes of companies as may be prescribed shall have the following whole-time key managerial personnel,—
(i) managing director, or Chief Executive Officer or manager and in their absence, a whole-time director;
(ii) company secretary; and
(iii) Chief Financial Officer :
Provided that an individual shall not be appointed or reappointed as the chairperson of the company, in pursuance of the articles of the company, as well as the managing director or Chief Executive Officer of the company at the same time after the date of commencement of this Act unless,—
(a) the articles of such a company provide otherwise; or
(b) the company does not carry multiple businesses:
Provided further that nothing contained in the first proviso shall apply to such class of companies engaged in multiple businesses and which has appointed one or more Chief Executive Officers for each such business as may be notified by the Central Government.
In addition to above comment of Arun, I would like to add Rule 8 and Rule8A of Companies( appointment and remuneration of managerial personnal) rules 2014, i.e
8. Appointment of Key Managerial Personnel.–
Every listed company and every other public company having a paid-up share capital of ten crore rupees or more shall have whole-time key managerial personnel.
8A. Appointment of Company Secretaries in companies not covered under rule 8.—
Every private company which has a paid up share capital of ten crore rupees or more shall have a whole -time company secretary.
every public company PSC 10cr or more
every pvt company PSC 5 cr or more
is mandatorily required to appoint whole time CS.
Please go through the MCA Notification or Exemption given in the year 2015 for section-8 Company.
As per exemption notification dated 05th June, 2015, the definition of Company Secretary in section 2(24) of the Companies Act, 2013 is not applicable on Section 8 Companies.
Therefore No any CS required mandatorily to be appointed in Section-8 (NGO)
Will the following person is considered as a Related Party in a Private Company:
1. Private Trust who is a shareholder of the Pvt Company
2. Public Trust who is a shareholder of the Pvt Company
Kindly explain if the auditor of the company has resigned and if we have also appointed a new auditor in EGM and also has filed ADT-1, then
1. in next AGM, do we require to file ADT-1 again after ratification??
2. From where the tenure of 5 years shall start: from the year of EGM or from the year of AGM??
What are the consequences of not regularizing Additional Director in Annual General Meeting. What can be solution to get rid of additional fee?
Company A is a Public Limited registered on 2019, with 7 share holders out of which 3 are promoters. As per the requirements the Company take ISIN and demated the shares of 4 share holders (promoters and directors). Further the company has increased capital and allotted new shares and added new shareholders too. The initial subscriber (3) shareholders holding less than 1% is not open demat account and not complied with the procedures even after follow-ups and they were not responding to companies communications. What are your thoughts? whether its a mis compliance if 100% shares are demated? Is there any ways available to forfeit that shares? Or to transfer to IEPF?
Can anyone suggest me the documents for increase in capital contribution in LLP.
The Number of Directors fall below 5 in producer co due to death of 1 director & company has appointed another due to this vacancy after 6 month is this amount noncompliance?
As per AOA the minimum requirement for director is 5.
Being a PCS before affixing DSC of any Promoter on any Form under Companies Act. is it mandatory to take written Authority Letter for the same?
Is DPT-3 Applicable on OPC Companies Also?
Compliance Calendar LLP is Recognised as Startup by DIPP Under Ministry of Commerce & Industry, Government of India
As per Rule 8 & 8A of the Companies (Appointment and Remuneration of Managerial Personnel) Rules 2014:
Every Company having a paid up share capital of ten crore rupees or more shall have a whole -time company secretary.
Specifically no exemption has been granted to Section 8 Companies to comply the Rule 8 & 8A of the Companies Act 2013.
Therefore Section 8 Companies are required to appoint whole time Company Secretary.