Threshold for Appointment of Company Secretary

Threshold for Appointment of a Company Secretary in a Company

Corporate Affairs Minister said that we Shall have to change the Rule relating to Appointment of Company Secretary (CS) with stakeholders consultation. This means that the minimum limit for appointing CS in a Company may get changed.

In contention of that, I would add that “ICSI should train CS, so that Cos DNT perceive CS as just cost centres but value addition beyond.” Thus, minimum paid-up share capital (PUSC) requirement doesn’t become the only criteria for Co.’s appointing CS. CS should also play a role in Financial management (atleast drafting Notes to accounts), labour laws and all legal and statutory compliances, ESOPs, Corporate affairs, Finance, since they do study that in curriculum too.  With this CS shall get higher pay packages and also earn respect in the eyes of the management too.

The root cause problem should be looked upon and solved. We collectively as professionals should work on the cause and problems emanating therefrom. Opinions and comments solicited…

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