Company secretary

Guest (Querist) 21 March 2014 This query is : Resolved
As per the provisions of the Companies Act,2013,a KMP cannot hold a full time job in any other company except in its subsidiary. However, he can hold the post od director in any other company.
Now my query is can the CS of a company having paid-up capital of more than Rs. 5 crore be appointed as CS in one or more of its subsidiary(ies)? Can he hold the additional post, even if the paid-up capital of its subsidiary(ies) exceeds Rs. 5 crore?

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R.V.RAO (Expert) 22 March 2014
a whole time KMP shall not hold office in more than one company except in its subsidiary.
but wholetime kmp can be director of the other co. with permission of board.(sec 203(3))

yes.appointment as c.s in one subsidiary only permitted as per the present wordings in the new act 2013.
he can hold addl.post even if paid up of subsidiary exceeds Rs5 cr.
but to get it authenticated from the horse mouth itself, you can as well address ICSI/MCA.

Rajendra K Goyal (Expert) 22 March 2014
Better address the same to ICSI / MCA for advise.

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