Is CS a KMP for Private company?

[Deepti Jairaj]

Hi,

A whole time company secretary exists in a private company as its paid up capital is more than INR 10 crores. But Section 203 pertaining to appointment of Key Managerial Personnel does not mandatorily apply to private company.

Considering the above, is it necessary to mention the name of the CS at Sl. No. VIII.b. of eForm MGT7?

Please share your views.

Thanks and regards,

Deepti 

[ankit tater]

Hello,

By definition CS is KMP. Further, if you read Section 203 with Rule 8A, it mandates appointment of whole time CS as KMP in Pvt Ltd companies having paid up capital of Rs 10 crores or more. So accordingly, disclosures regarding CS shall be made in Form MGT-7.

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[Nehaa Saraf]

Please read the below mentioned rule as follows :

Rule 8A of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014 –

8A Appointment of Company Secretaries in Companies Not Covered Under Rule 8

Every private company which has a paid up share capital of ten crore rupees or more shall have a whole -time company secretary.

[Deepti Jairaj]

thank you all