ACHCHHE DIN AA GAYE, AT LEAST FOR CS
The Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014 have been amended to include every company with a "paid-up share capital" of five crore rupees or more to have whole-time company secretary. This shall take into force w.e.f. 09th June, 2014.
The earlier Rules notifed w.e.f 01st April, 2014 have included only listed company and every public company with a paid-up share capital of ten crore rupees or more to have whole-time key managerial personnel.
With this notification brought into force, the 70 days battle of Regulator of Company Secretaries, The Institute of Company Secretaries of India come into an end, which was one of the major concern of 35000 Company Secretaries professionals and around 4 lakh student undergoing Company Secretary course.
In addition,
- The commencement date of provisions of Section 74(2) & (3) of The Companies Act, 2013 have been notified as 06th June, 2014.
- Accordingly, the Company Law Board constituted in pursuance of sub-section (1) of Section 10E of the Companies Act, 1956 (1 of 1956) shall exercise the jurisdiction, powers, authority and functions of the Tribunal under sub-section (2) of Section 74 of the Companies Act, 2013 (18 of 2013).
- Further, until the National Company Law Tribunal is constituted under section 408 of the Companies Act, 2013 (18 of 2013), the Board of Company Law Administration constituted in pursuance of sub-section (1) of Section 10E of the Companies Act, 1956 ( 1 of 1956) shall exercise the jurisdiction, powers, authority and functions under the first proviso to clause (41) of Section 2 of the Companies Act, 2013 (18 of 2013).
With regards,
CA. Amit G. Chandani |
CA. Amit G. Chandani |
ACA, ACMA, Lic. ICSI, B. Com |
Ph. No. | +91 94150 94009 | +91 95594 02410 |
Connect at |
Skype <amitatskype99> |
Whatsapp <+91 9415094009> |
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