Dear All, Greetings !!
We are dealing with advanced Plastic Polymer Company - A multinational from South Korea.
Would like to need your suggestion that is there mandatory to keep the Company secretary on company role as per company act ?
- Or can do another option like Retainer ship or Stipend mode.
Kindly suggest with rule and clause.
Thanks in advance please.
From India, Delhi
We are dealing with advanced Plastic Polymer Company - A multinational from South Korea.
Would like to need your suggestion that is there mandatory to keep the Company secretary on company role as per company act ?
- Or can do another option like Retainer ship or Stipend mode.
Kindly suggest with rule and clause.
Thanks in advance please.
From India, Delhi
All these depend on the size of the company and other circumstances, including paid up capital you can’t get an answer just like that
From India, Mumbai
2392From India, Mumbai
As per Section 2(24) of The Companies Act 2013, ‘company secretary’ or ‘secretary’ means a company secretary as defined in clause (c) of sub-section (1) of section 2 of the Company Secretaries Act, 1980, who is appointed by a company to perform the functions of a company secretary under this Act
Every listed company and every other company having paid up share capital of rupees 10 crores or more shall have a whole time company secretary in their board.
You may check with your auditor for further details?
From India, Madras
Every listed company and every other company having paid up share capital of rupees 10 crores or more shall have a whole time company secretary in their board.
You may check with your auditor for further details?
From India, Madras
Our Company capital investment is approx.500 cr.
but the thing is
-is there any mandate the CS has to keep on role.
- or we can hire like monthly retainer ship basis like yearly renewal
- or we can take services from him/her and the charge will be paid.
- and on a board could we show the full time member.
Note :- since 2 years we are giving him/her the retainer ship fee-monthly and increase payout yearly basis.
If the law is silent on that part ,can we do like that as earlier we do.
From India, Delhi
but the thing is
-is there any mandate the CS has to keep on role.
- or we can hire like monthly retainer ship basis like yearly renewal
- or we can take services from him/her and the charge will be paid.
- and on a board could we show the full time member.
Note :- since 2 years we are giving him/her the retainer ship fee-monthly and increase payout yearly basis.
If the law is silent on that part ,can we do like that as earlier we do.
From India, Delhi
Dear Prem
The law is definitely not silent and you are required by law to have a full time Company Secretary on board
You can not do it with part timer or on call / professional services basis.
There are few companies doing that, basically because it the government has not cracked down on the practice. However, it is a matter of time before they send you a show cause and start to penalise you. So I suggest you give up the practice and appoint a full time person as required under law
From India, Mumbai
The law is definitely not silent and you are required by law to have a full time Company Secretary on board
You can not do it with part timer or on call / professional services basis.
There are few companies doing that, basically because it the government has not cracked down on the practice. However, it is a matter of time before they send you a show cause and start to penalise you. So I suggest you give up the practice and appoint a full time person as required under law
From India, Mumbai
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