Monday, January 6, 2020

Now Private Companies having outstanding loans of Rs. 100 cr. must undergo Secretarial Audit

The Ministry of Corporate Affairs (MCA) has come up with notification which amends ‘Rule 8A - Appointment of Company Secretaries’ and ‘Rule 9- Secretarial Audit Report’ of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014. The amendments seeks to hike threshold limit of paid up capital for companies to appoint whole time Company Secretary, amendment also seeks to expand scope of Secretarial Audit. The notification will be effective from 01.04.2020

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