vivek (CS) (751 Points)
01 July 2010Dear All,
If a company whose paid up capital is more than Rs. 5 Crores and they had a whole time CS till March first week and afterwards he resigned and company didn't able to appoint a CS till april now i want to know as Company didn't had CS on 31.03, is it required to secure a Compliance Certificate for the F.Y. 2009-10.
Regards,
neha AWASTHI
(hh)
(230 Points)
Replied 01 July 2010
Amended & Applicable Provision from 15th March 2009:
Get Mandatory Compliance Certificate:
Mandatorily appoint a Whole Time Company Secretary:
if your share capital is above 5 crores
vivek
(CS)
(751 Points)
Replied 01 July 2010
Mam,
Thnx for your reply, i am aware abt the provision and in my case the company must have a CS but nw they had caused a gap in appointment nw i want to know should i obtain a Compliance Certificate bcoz we didn't had CS on 31.03.2010 or no requirement of procuring Compliance Certificate bcoz the paid up capital is more than Rs. 5 Crores.
Thnx in advance.
vivek
(CS)
(751 Points)
Replied 02 July 2010
Thnks sir for clarification, so company don't need to obtain Compliance Certificate from PCS.
CS Ankur Srivastava
(Company Secretary & Compliance Officer)
(17853 Points)
Replied 02 July 2010
Dear Vivek,
In your situation, you does not requird to obtain compliance certificate. Because there was company secretary during the whole year and he resigned only after 15th of march. Secondly the intention of law also fulfilled that the compliance must be insured by the company secretary or certificate by the PCS.
My view is, you dont need to obtain Compliance Certificate. But you should try to appoint Company Secretary.
vivek
(CS)
(751 Points)
Replied 02 July 2010
Thank you sir for your valuable suggestion, we have appointed the CS for the company.
Regards,
CAclubindia
