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Income and Expenditure Account

Private Compa...

Question

Private Companies with paid up Capital of ___________ are required to get their annual return signed either by CS or P.CS (Practising Company Secretary)

A

Rs. 50 lakh and upto Rs. 5 crore

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B

Rs.40 lakh and less than 50 lakh

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C

Less than Rs.10 crore but more than Rs.5 crore

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D

None of the above

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Solution

The correct option is D Rs. 50 lakh and upto Rs. 5 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.

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Q. Which of the following companies are required to do secretarial audit as per Rule 9 of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014?
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Q. Which of the following conditions are required to be fulfilled by private company in order to treat it as Small Company under Section 2(85) of the Companies Act, 2013?
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