Limit for appointment of Company Secretary has been increased from Rs. 5 Crores to Rs. 10 Crores

The Ministry of Corporate Affairs (MCA) has issued the notification on 03rd January 2020 in which the following changes have been introduced, which are as follows:-

a. Increase in limit of paid up capital for appointment of Company Secretary – The limit for appointment of Company Secretary in a Private Limited Company has increased from Rs. 5 Crores to Rs. 10 Crores paid up share capital.

b. Secretarial Audit – For Secretarial Audit, the additional condition for “Outstanding Loan or Borrowings from Bank or Public Financial Institution exceeds Rs. 100 Crores” has been inserted.

To view and download the Notification, click here Threshold limit for appointment of Company Secretary