15 December 2009
A company upon crossing Rs.5 crore paidup capital, it is mandatory that company should appoint a company secretary. What are the timelines for appointment of CS in such case and filing of form 32 to ROC.
15 December 2009
Sec 383A provides that within 1 year from the date on which capital is crossing 5 crore, company must appoint CS in full time employment. He is appointed by Board of Directors, and within one month of his appointment e-Form 32 is filed.
16 December 2009
Thank you so much for the replies.
Please correct my understanding if its wrong anywhere.
According to latest amendment WEF 15.03.09 A company having a paid up share capital of Rs.2 crs or more but less than Rs.5 crs may appoint qualified CS as a whole-time secretary. Such company is not require to obtain compliance certificate from PCS.
In our case, threhold of Rs.5 crs is crossed on 28 Nov 08, so a wholetime CS can be appointed by 27 Nov 09 and filing form 32 with ROC shall be 26 Dec 09.
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