09 May 2013
Authorized and paid up share capital of my company is more than 5 crore, do we need to appoint a full time CS or can we retain a CS and obtain Compliance certificate from him/her.
09 May 2013
Ministry of Corporate Affairs has, in exercise of the powers under section 383A of the Companies Act, 1956, made certain amendments to the Companies (Appointment and Qualifications of Secretary) Rules, 1988. The amendments will be effective from 15 March 2009.
As paid up capital of your company is more than Rs. 5 crore so Appointment of a whole-time Secretary who is a member of ICSI is mandatory in your case. You are not required to obtain compliance certificate.
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