Recentely a new notification of companies act says that the limit of paid up capital for appoinemtent of a full time CS is raised from 2crores to 5 crores. In the text of notification, the last part reads as follows:
Provided that where a company has appointed under sub-rule (3) or this sub-rule, a whole-time company secretary, possessing the qualification of membership of the Institute of Company Secretaries of India, such a company is not required to obtain a certificate from a secretary in whole-time practice under rule 3 of the Companies (Compliance Certificate) Rules, 2001."
Does that mean that companies who now have whole time CS does not need to file form 66 (compliance certificate with RoC?
Copy of full notification is attached for reference.
CAclubindia
