Amendment in Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014
This relates to appointment of Company Secretaries in Private Companies and Applicability of Secretarial Audit.
Amendment: (To be effective from 1st April 2020)
(a) The requirement for appointment of Company Secretary for a private limited company: The threshold changes from Rs. 5 crores to Rs. 10 crores of paid up share capital .
(b) Secretarial Audit – The additional criteria of “Outstanding Loan or Borrowings from banks or Public Financial Institutions exceeds Rs 100 Cr.” has been inserted apart from existing Paid up share capital & Turnover criteria
[Official Notification:]
http://www.mca.gov.in/Ministry/pdf/AmdtRules_06012020.pdf
MCA.GOV.IN
www.mca.gov.in