Anny Jain (ACS) (103 Points)
08 October 2011
If a pvt. ltd. co. is having a paid-up capital above Rs. 5 crores but the company has not appointed any company secretary then is the company required to obtain a Compliance Certificate and file Form 66? If yes then please tell me where is this written?
Dipjyoti Majumdar
(CA in service & CS. dipmaj@ rediffmail.com )
(3468 Points)
Replied 09 October 2011
In this case CC is not mandatory, though there is not employee CS.
Swapnil Jain
(Finance - FP&A)
(564 Points)
Replied 09 October 2011
| Originally posted by : Dipjyoti Majumdar | ||
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In this case CC is not mandatory, though there is not employee CS. |
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sorry to cross you Madam, but I think in this case it is mandatory to have CC from a CS as the capital is above 5 crore... please explain on what basis you are denying the mandatory requirement of CC?
Anny Jain
(ACS)
(103 Points)
Replied 10 October 2011
The circular displayed on mca site says that its mandatory to appoint CS if paid-up capital is above 5 crores & its mandatory to get CC if paid up capital is between 10lacs-5crores.
But nowhere it is mentioned whether co. is required to obtain CC in case paid up capital is >5cr and co. has not appointed a CS.
Logically it seems we need to take CC in such a case but I just want to know is it mentioned anywhere in law/circular/rules?
Swapnil Jain
(Finance - FP&A)
(564 Points)
Replied 10 October 2011
i have re-read the
amendment in rule 3 COMPANIES (APPOINTMENT AND QUALIFICATIONS OF SECRETARY) AMENDMENT RULES, 2009
and yes i think you are right ....it's not mentioned specifically...!!!
CS Shivi Reddy
(COMPANY SECRETARY)
(175 Points)
Replied 10 October 2011
Dear All,
if the Compnay's Paid up capital is Rs. 5 Crs it has to Compulsorily appoint a CS in t Whole time Employement.
If the Company fails to do dis then it shall be a default on behalf of the Company and company and every officer of the company who is in default, shall be punishable with fine which may extend to five hundred rupees for every day during which the default continues
Regards
Shivi
CAclubindia
