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Section 383a of the companies act 1956

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Querist : Anonymous

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Querist : Anonymous (Querist)
20 July 2012 Dear All Experts,

As per section 383A of the Companies Act, 1956 every company with a paid up capital of Rs. 5 Crore or more must have a Whole time Company Secretary. but what about companies limited with gurantee and without share capital.

Is there is any provision in the Companies Act with reference to the appointment of CS in the Companies incorporated without share capital.

Thanks in Advance

20 July 2012 Hi

As per my understanding, the Company Secretary requirement of the company is based on the paid up capital of the Company. So The Companies Act, and rule made their under specified the paid up capital criteria for having a company secretary.

In case of company limited by guarantee, the section and rule made there under is silent. So no need to have a company secretary.

Other views are also solicited.

Regards

20 July 2012 Section 383A does not apply to guarantee companies which do not have share capital.




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