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As per the Companies (Appointment & Remuneration of Managerial Personnel) Rules 2014 - CS Employment scope:
Appointment of Key Managerial Personnel.-
Every listed company and every other public company having a paid-up
share capital of ten crore rupees or more shall have whole-time key
managerial personnel.
Thus, hereafter Private companies need not appoint a Company Secretary. This was not expected by anyone, even the drafts rules has no hint ! But LCA2013.IN is of the view that the KMP concept is focused more in widely held company, leaving Pvt cos to take less compliance cost.
Appointment of Key Managerial Personnel.-
Every listed company and every other public company having a paid-up
share capital of ten crore rupees or more shall have whole-time key
managerial personnel.
Thus, hereafter Private companies need not appoint a Company Secretary. This was not expected by anyone, even the drafts rules has no hint ! But LCA2013.IN is of the view that the KMP concept is focused more in widely held company, leaving Pvt cos to take less compliance cost.
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