What is the threshold limit of capital for cs appointment?
This query is : Resolved
05 August 2014
What is the Threshold limit of Capital for Company Secretary Appointment for Private and Public Companies? I think the Limit was Rs.10 Crores at the time of commencement of Companies Act 2013 and now it has been changed to Rs.5 Crores. Can any one clarify in this regard?
05 August 2014
Earlier, the Companies Act 2013 had mandated that all companies with a paid up capital of up to Rs 10 crore were exempted from appointing a company secretary on a mandatory basis.
Making changes to rules under the new companies law, the government has said all companies with a paid up share capital of Rs 5 crore and more will have to appoint a company secretary.
Making changes to rules under the new companies law, the government has said all companies with a paid up share capital of Rs 5 crore and more will have to appoint a company secretary.
05 August 2014
Thank you Mitesh sir. I have another doubt whether there is any provisions for Compliance Certificate to be obtained from CS for companies having share capital less than Rs.5 Crores?
05 August 2014
As per Companies Act, 2013, Requirement of compliance certificate done away with and in its place scope of annual return has been enlarged.
However for the FY 2013-14, Compliance certificate need to be obtained for the companies having pais up capital of more than Rs. 10 Lacs and less than Rs. 5 crores.
However for the FY 2013-14, Compliance certificate need to be obtained for the companies having pais up capital of more than Rs. 10 Lacs and less than Rs. 5 crores.
05 August 2014
Can you explain Sir in brief what scope has been increased in annual return? Can I get a specimen format of annual return under Companies Act 2013?
05 August 2014
The annual return, filed by a listed company or, by a company having such paid-up capital of Rs.10 Crores or more OR turnover of Rs.50 Crores or more shall be certified by a PCS
Particulars of Annual Return under the Companies Act, 2013
◦its registered office, principal business activities, particulars of its holding, subsidiary and associate companies;
◦its shares, debentures and other securities and shareholding pattern;
◦its indebtedness;
◦its members and debenture-holders along with changes therein since the close of the previous financial year;
◦its promoters, directors, key managerial personnel along with changes therein since the close of the previous financial year;
◦meetings of members or a class thereof, Board and its various committees along with attendance details;
◦remuneration of directors and key managerial personnel;
◦penalty or punishment imposed on the company, its directors or officers and details of compounding of offences and appeals made against such penalty or punishment;
◦matters relating to certification of compliances, disclosures as may be prescribed;
◦details, as may be prescribed, in respect of shares held by or on behalf of the Foreign Institutional Investors indicating their names, addresses, countries of incorporation, registration and percentage of shareholding held by them; and
◦such other matters as may be prescribed,
Particulars of Annual Return under the Companies Act, 2013
◦its registered office, principal business activities, particulars of its holding, subsidiary and associate companies;
◦its shares, debentures and other securities and shareholding pattern;
◦its indebtedness;
◦its members and debenture-holders along with changes therein since the close of the previous financial year;
◦its promoters, directors, key managerial personnel along with changes therein since the close of the previous financial year;
◦meetings of members or a class thereof, Board and its various committees along with attendance details;
◦remuneration of directors and key managerial personnel;
◦penalty or punishment imposed on the company, its directors or officers and details of compounding of offences and appeals made against such penalty or punishment;
◦matters relating to certification of compliances, disclosures as may be prescribed;
◦details, as may be prescribed, in respect of shares held by or on behalf of the Foreign Institutional Investors indicating their names, addresses, countries of incorporation, registration and percentage of shareholding held by them; and
◦such other matters as may be prescribed,
05 August 2014
Thank you very much Mitesh Sir for your valuable information.
06 August 2014
yes, Fully Agreed with you Mitesh Sir. Govt on 9th June make an amendment via Rule8A changed the limit from Rs. 10 lakh to Rs. 5 lakh and this will also applicable on Private co
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