Section 203 of companies act
Dushyant Krishnamurthy
(Querist) 30 October 2015
This query is : Resolved
As per 203 of the recent enactment of the Companies Act, it is mandatory to have a full time company secretary for companies which have a net worth of at least Rs. 5 crores. In such a case the Company secretary becomes a Key Managerial Personnel(KMP). In a case where the Company Secretary is transferred abroad, will he still hold the same position as KMP or not?
Or will the company have to appoint a new company secretary?
Anirudh
(Expert) 31 October 2015
Appointment of a Company Secretary is not a mere empty formality. He has a number of jobs to perform and to report compliance.
If the Company Secretary is transferred abroad, who will effectively function as a Company Secretary?
Do you mean to say that the Company Secretary posted abroad will continue to perform the functions of the CS in the Corporate office? Answer to this question will hold answer to your query.
Rajendra K Goyal
(Expert) 31 October 2015
Why the company secretary transferred to foreign country.
K.S.Srinivas
(Expert) 31 October 2015
Company Secretary has to discharge statutory duties. In case the present CS is transferred, then in his place another company secretary needs to be appointed.
