Compliance alogn with documents list for appointment of Company Secretary in its subsidiary company

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if a Whole time Company Secretary of Holding Company can be appointed as Whole time Company Secretary of its Subsidiary Company. If yes list of compliance , e-forms and format of documents to be uploaded with prescribed time limit is required.

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    Yes. A Whole time Company Secretary of the Holding Company may be appointed as Whole time Company Secretary of only one of its Subsidiary Companies.

    Relevant Provisions

    Section 203(3) specifies that “a whole-time key managerial personnel (KMP)* shall not hold office in more than one company except in its subsidiary company at the same time”. Since the term “Subsidiary Company” is used and not “Subsidiary Companies”, we may conclude that a KMP may hold office in not more than any one of its Subsidiaries.

    *KMP, as defined in Section 2(51) of the Companies Act, 2013 includes a Company Secretary (CS).

    Compliances:

    Form DIR-12 would need to be filed within 30 days of appointment as the Whole-Time CS with the Registrar of Companies, along with the following attachments:
    • Consent of the candidate to act as the CS in from DIR-2
    • Certified True Copy of the board resolution appointing such candidate as CS
    • Candidate’s interest if any in other firms or bodies corporates.

    On appointment, the Register of KMP needs to be updated.

    These compliances need to be done separately for the Holding Company and its Subsidiary Company.

    Disclaimer: The responses/ answers posted on this forum by CimplyFive does not intend to act as a professional advice for any specific company or event. It is intended to be an opinion for consideration of other professionals in furthering the debate. CimplyFive is not responsible for any loss or damage arising for anyone using or following the response/ answers given in this forum.

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