Question

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?
(I) Every public company having a borrowing of Rs. 100 crore or more
(II) Every public company having a paid-up share capital of Rs. 50 crore or more
(III) Every public company having a turnover of Rs. 200 crore or more
(IV) Every private company having a turnover of Rs. 150 crore or more

Select the correct answer from the options given, below-

• A. (I) and (II)
• B. (II) and (III)
• C. (I) and (III)
• D. (I) and (IV)

Answer 1

The correct option is B (II) and (III)

As per rule 9 of Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014, for the purposes of sub-section (1) of section 204, the other class of companies shall be as under-

(a) every public company having a paid-up share capital of fifty crore rupees or more; or

(b) every public company having a turnover of two hundred fifty crore rupees or more.