company secretary

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RItu (Querist)
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19 November 2007 is there any circular in 2005/2004 which gies exemption to companies from hiring company secretaryd, on any pretext???

On what basis can a company claim that it need not appoint a company secretary even though share capital is more than 2 crores and is a limited co

R.V.RAO

R.V.RAO (Expert)
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19 November 2007 THERE IS NO SUCH CIRCULAR .
IN FACT ICSI IS AN ACT PASSED BY PARLIAMENT. SO ONLY THE PASSING AUTHORITY CAN GIVE ANY AMENDS TO THE ORIGINAL ACT.
BUT WE KNOW COMPANIES WHICH HIRE SERVICES OF PRACTICING CS TO COMPLY WITH COMPANY LAW NEEDS OF MAINTAIN RECORDS,FILE FORMS, HOLD BOARD AND GENERAL MEETINGS ,ALLOT SHARES, PASS RESOLUTIONS ETC...
WHENEVER ROC ISSUES NOTICE/OBJECTION LETTER TO THE COMPANY, WHY NO SECRETERY WAS APPOINTED, THEY REPLY THE C.S RECRUITED DID NOT JOIN.OR C.S NOT PREPARED TO WORK AT REGD. OFFICE WHICH IS NORMALLY SITUATE IN REMOTE CORNER.ETC.
USUALLY, THE VICE PRESIDENT/G.M (FIN )OR FIN. MANAGER IF THEY HOLD C.S QUALIFICATION, SUCH COMPANIES FILE FORM 32 FOR HIM /HER AS IF HE IS SECRETARY.
THERE IS NO EXCEPTION UNDER SEC.383A FOR NOT APPOINTING A SECRETARY EXCEPT TO SAY THE FINANCIAL POSITION OF THE COMPANY DOES NOT PERMIT OR THE COMPANY CANNOT AFFORD SUCH A SENIOR OR PROFESSIONAL PERSON.
R.V.RAO