Appointment of cs in a private company - whether kmp ???

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CA. CS. CMA. J. RAJGANESH (Querist)
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01 July 2015 My query is regarding of appointment of company secretary in a private limited company having a paid up capital above 5 crores ,whether cs will be included in the defination of KMP in the case of Private Limited company as KMP defination applies to Listed company & Public limited company having a paid up capital of 10 crores or above.

Kindly advise which other forms(MGT-14/ MR-1) are required to file apart from DIR-12 with regard to appointment of CS in a private limited company ??

Whether CS will be a KMP in case of Private Limited Companies ??

Thanks and Regards
J.Rajganesh

Pratik Shah

Pratik Shah (Expert)
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01 July 2015 No need to file Form MGT-14/MR-1.
Form MR-1 is required to be filed with RoC pursuant to Section 203 only when this section is applicable to the Company. Since it is not applicable to Pvt Ltd Co, you are required to file only Form DIR-12.
In this case, CS will be considered as KMP only for the purpose of the Act, not for the purpose of filing the form.

Please solicit views of other learnt members, if you feel above view is not correct.

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Ankur Garg

Ankur Garg (Expert)
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02 July 2015 Agree with above opinion.

However in your case CS will be considered as KMP but only for the purpose of definition of KMP.

Section 203 is not applicable in your case so CS will not be considered as KMP under section 203.

On a safer side there is no harm in filing MGT.14 and MR-1. But as per my opinion the same is not mandatory.

Thanks

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CA. CS. CMA. J. RAJGANESH

CA. CS. CMA. J. RAJGANESH (Querist)
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02 July 2015 Dear Sir

Whether CS appointed in Private Ltd Companies will become an "Officer in Default" ??

If we File MR-1 - It implies that CS is a KMP.

Deepak Maharishi

Deepak Maharishi (Expert)
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19 November 2015 Dear all,

Please advise whether in MGT-7 do we have to mention salary of Company Secretary also under the heading which requires salary details of directors and KMPs. The said column specifically asks for salary of "company secretary" but the fact is that it is mentioned under KMP heading.

So, salary of private limited company CS will have to be mentioned or not?

Also please advise whether in the balance sheet (notes to accounts) whether name of such CS of private limited company should come or not?

regards