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Question
A Private Limited Company having paid up share capital of Rs _______ or more must appoint a whole time company secretary.
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Solution
The correct option is A five crore
Company secretary is a key managerial person in a company, responsible to ensure the effective and efficient administration of the company and certifying the company’s compliance with the provision of the Act. These company secretaries in practice have a duty to issue compliance certificate to the companies who have paid-up capital of more than 50 lakh Rupees but not more than 5 Crore Rupees. But in case of whole time company secretary, the paid up capital should be five crores or more.
Company secretary is a key managerial person in a company, responsible to ensure the effective and efficient administration of the company and certifying the company’s compliance with the provision of the Act. These company secretaries in practice have a duty to issue compliance certificate to the companies who have paid-up capital of more than 50 lakh Rupees but not more than 5 Crore Rupees. But in case of whole time company secretary, the paid up capital should be five crores or more.
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