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:
- 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
- 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?