MR-1 for private companies?

[Pracheta]

Is MR-1 required to be filed even in case of private companies?

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Best Regards,

CS.Pracheta.M

Practising Company Secretary

Ph: 98446 88622

[sachin kumar]

Why you file MR-1??plz specify.

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[BalaJi Srivastava]

only for cs

Thanks and Regards,

Balaji Srivastava

B.Com ACS LLB
Mobile: +91 (0)987-316-9769
Email:bbala...@gmail.com

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[sachin kumar]

U also filed MR1 for the appointment/reappointment of MD.

[Jayashree Chandrasekaran]

Balaji,

Why CS should take the burden of KMP?

Jayashree

C.JAYASHREE
PROPRIETOR
S.GANESH&ASSOCIATES
CHENNAI
98840 17120

[CS Simranjeet Singh]

form MR-1 is reqd to be filed in pvt co's too..  in rule 3 of co (appt and remuneration of mp) rules, 2014 word company secretary is used for which we need to file return of appointment..

 

 

With Best Regards?

Simranjeet Singh

Associate Company Secretary

"To know, is to know that you know nothing. that is the meaning of true knowledge."

 

   

[CS.Omkar]

Dear CS Pracheta,

Since Sec 196 is applicable to both private and public limited companies, Form MR-1 is required to be filed by private companies as well. Even Form MR-2 (Central Government approval) is also required if the appointment is in variance to conditions applicable to private companies specified in Schedule V.  

Regards...Omkar

[BalaJi Srivastava]

Agreed Simar, Actually the insertion of Rule 8a in u.s. 203. And 8a is applicable for Pvt Companies too..

Hope this suffice

Thanks and Regards,

Balaji Srivastava

B.Com ACS LLB
Mobile: +91 (0)987-316-9769
Email:bbala...@gmail.com

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The contents of this e-mail are confidential to the ordinary user of the e-mail address to which it was addressed and may also be privileged. If you are not the addressee of this e-mail you may not copy, forward, disclose or otherwise use it or any part of it in any form whatsoever. If you have received this e-mail in error please e-mail the sender by replying to this message.

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[Lakshman Thodupunoori]

Is Schedule V is application to Private Companies also?

[Vivek Hegde]

Dear Members,

Below are the ROC's view on the matter:

MR-1 ( i.e., return of appointment of Key Managerial Personnel) is to be filed as per section 196,197, Schedule V and Rule 3 of (Appointment and Remuneration of Managerial Personnel ) Rules 2014.

Proviso to Section 196 (4) states that the return of appointment of MD etc., ( ie MR-1) is to be filed with ROC. There is no requirement of a KMP in case of Private limited companies. The Heading of the MR-1 form states about the appointment of KMP.

ROC’s views : In case of appointment of MD by a private company, the company has to file MGT 14 and DIR 12. The form MR 1 need not be filed in this case as the company is not required to appoint KMP under the Act.

Warm Regards

CS Vivek Hegde,B.com, FCS, CWA

Vivek Hegde & Co.
Company Secretaries
No. 2034, 26th Cross, K.R.Road
Banashankari II Stage, Behind 

Sevakshetra Hospital

Bangalore-560070
Mob : 09900898223

Off: 080 26710667

[Ramesh]

Dear Vivek

Thanks for the opinion...

 

How about the MD appointed under Companies Act 1956.. do we need to comply anything with MCA.

[Vivek Hegde]

Dear Ramesh,

There are two views as follows. There is lack of clarity.

1. The period of 5 years should be counted from 01.04.2014 and before completion of 5 years, MD has to be re-appointed.

2.As per General circular 32 dated 23-07-2014, if the resolution is passed between 01-09-2013 and 31-03-2014 the resolution passed will be valid for one year from the date of passing or 6 months from the commencement of the CA, 2013, after the expiry of which a resolution u/s 196 should be passed.

Warm Regards

CS Vivek Hegde,B.com, FCS, CWA

Vivek Hegde & Co.
Company Secretaries
No. 2034, 26th Cross, K.R.Road
Banashankari II Stage, Behind 

Sevakshetra Hospital

Bangalore-560070
Mob : 09900898223

Off: 080 26710667

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[jayasri gn]

Yes MR 1 is applicable to Pvt Cos.

[Ramesh]

Thanks Vivek,

So only after 5 years of from 01/04/2014 (appointed under companies act 1956) we need to file file MGT-14 with ROC

On Thursday, January 29, 2015 at 11:51:27 AM UTC+5:30, manchali pracheta Ms. wrote:

[jayasri gn]

Hi Vivek,

Can you please share if ROC has given the same in writing.

Would be useful during audit for all of us.

Thanks

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[sachin kumar]

I think for better compliance u should file form MR-1. U are appointed MD, you filed various form regarding the same as MGT 14, DIR 12, then wat the problem to file form MR 1, i think u should file the same.

[Geetha Chouhan]

Hello members,

What if the company had appointed MD from around 10 years back, should the company file MR 1 to mention re appointment of the MD ?

If yes then what should be the event date?

Its for a private limited company.

Warm regards,
Geetha