Dear All, Is it possible to appoint Company Secretary of Pvt. Ltd Co.(Paid up cap of Rs 5 Cr.), without designated him as KMP.
Kindly provide resolution on Urgent basis.
Regards
Swati Sharma (TRAINEE) (328 Points)
27 May 2015Dear All, Is it possible to appoint Company Secretary of Pvt. Ltd Co.(Paid up cap of Rs 5 Cr.), without designated him as KMP.
Kindly provide resolution on Urgent basis.
Regards
P C Agrawal
(Registered independent director Past Chairman of Aurangabad Chapter of ICSI Practicing Company Secretary at Aurangabad)
(8229 Points)
Replied 27 May 2015
CS is a KMP by designation [Ref.Sec.2(51)].
It has taken decades to get this recognition for CS. Why do you want to take it away now?
Swati Sharma
(TRAINEE)
(328 Points)
Replied 27 May 2015
So do the co. needs to file MGT-14, MR-1 and DIR-12 if CS is KMP as per Sec.2(51) and co. doesnot fall under the ambit of sec 203 of the Companies Act, 2013
thulasi raman
(Trainee)
(52 Points)
Replied 27 May 2015
when u see rule 8 of appointment of KMP, Private Limited is excluded.
Whereas Rule 8A speaks about Appointment of CS as a Whole Time CS
my opinion is appointment of CS for Private Company shall not Conisder as KMP
KMP applicablitiy as per rule 8
Every Listed Com and Public Co. having Paid Up Capital 10 cr or more
in rule PVT CO. is not mentioned.
ACS Anjali Jain
(SERVICE - CS)
(472 Points)
Replied 27 May 2015
Rule 8A - a company other than a company covered under rule 8 which has a paid up capital of 5cr or more shall have a whole time company secretary.
Rule 8 and rule 8A are rules for section 203- appointment of KMP. so if cs is appointed then he has to be designated as a kmp. whether we appoint any voluntarily or for the requirement of the act.
thulasi raman
(Trainee)
(52 Points)
Replied 28 May 2015
y its not possible Sourabh Jain. can u explain
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