About appointment of company secretary

This query is : Resolved

Amit Deokule (Querist)
Follow

29 October 2008 Dear Sir,

Is it mandatory to appoint CS in an organization if the company is increasing the paid up capital more than 50 lakhs?

S.Srinivasaraghavan

S.Srinivasaraghavan (Expert)
Follow

29 October 2008 No.

CA Bosu babu

CA Bosu babu (Expert)
Follow

31 October 2008 hey you can refer the following source..,

EVEN as lesser number of companies would now be required to appoint a full-time company secretary, the scope of work for company secretaries is to be expanded, with the Department of Company Affairs (DCA) likely to make it mandatory for all companies to undertake a secretarial audit or compliance audit.

The DCA is set to relax the norms for appointment of company secretaries by stipulating an increase in the limit prescribed under the Companies Act. The limit is to be increased to Rs 2 crore from the existing Rs 50 lakh. Further, it is also been proposed that those companies, which fall in the bracket of Rs 10 lakh and more and less than Rs 2 crore, once the limit is raised, may now have to submit a compliance report.

``In short, all the smaller companies which are not required to appoint a company secretary will have to submit a compliance report,'' sources told Business Line. The department also proposes to prescribe for pre-certification of the forms. Explaining the concept, sources said that all forms submitted to the Registrar of Companies (RoCs) need to be scrutinised. In order to lessen the burden on the already overburdened RoC staff, the department may like to outsource scrutiny.

Upgrade to CAclubindia Pro. Subscribe Now!