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    Is CS Required to be Appointed Under Section 8 Company as Per Companies Act 2013 ?

    Posted By : Sachin / Published on : 14-Jun-2022 07:04 AM / View : 122 / Comment : 4
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    Hello,

    appointment of Company Secretary under section 2(24) is required for Section 8 Companies?

    Read more on : companies company section appointed under required

    • Dear Sir

      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.

      15-06-2022 / 05:09:25 AM
      Reply
    • Hi Sachin 

      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.

      15-06-2022 / 05:17:36 AM
      Reply
    • Dear Sachin,

       

      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.

       

      conclusion:

       

      every public company PSC 10cr or more

      every pvt company PSC 5 cr or more

       

      is mandatorily required to appoint whole time CS.

       

      thank you

      17-06-2022 / 05:28:05 AM
      Reply
    • Dear Folks,

      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)

      21-06-2022 / 06:45:44 AM
      Reply



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