Friday, December 1

FAQs Related to MCA Mandate to Private Companies to have a Whole-Time CS

What is the name of this notification?

These rules may be called the Companies (Appointment and Remuneration of Managerial Personnel) Amendment Rules, 2020

When is this notification issued?

This Notification is issued on 3 January 2020

What is the key message or essence of this notification?

This amendment is about the following 2 key points:

  1. Appointment of a whole-time Company Secretary: MCA Mandates Appointment of Whole-time Company Secretary to All Private Companies that have 10 Crore & More or Companies having
  2. Mandatory to submit Secretarial Audit Report: Both Private & PubliC Limited Companies with Outstanding Loan or Borrowings from banks or Public Financial Institutions exceeds Rs 100 crore have to submit the Secretarial Audit Report

When is this amendment effective from?

This amendment is effective from 1st Apr 2020

How many Private Limited companies are there in India with over 10 Crore Paid-up capital?

There are 13,813 Private Limited Companies in India with paid-up capital of 10 Crore and above

Where can I download the said MCA notification?

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