These rules may be called the Companies (Appointment and Remuneration of Managerial Personnel) Amendment Rules, 2020.
They shall be applicable in respect of financial years commencing on or after 1″t April, 2020.
| Rule No | Companies (Appointment and Remuneration of Managerial Personnel) Amendment Rules,2014 | Companies (Appointment and Remuneration of Managerial Personnel) Amendment Rules, 2020. |
| 8A Appointment of Company Secretaries in Companies Not Covered Under Rule 8 | Every private company which has a paid up share capital of five crore rupees or more shall have a whole -time company secretary | Every private company which has a paid up share capital of ten crore rupees or more shall have a whole -time company secretary |
| 9 sub clause (b) Secretarial Audit Report | Every public company having a turnover of two hundred fifty crore rupees or more; | Every public company having a turnover of two hundred fifty crore rupees or more;or |
| 9 sub clause (c) Secretarial Audit Report. | Every company having outstanding loans or borrowings from banks or public financial institutions of one hundred crore rupees or more “Explanation :- For the purposes of this sub-rule, it is hereby clarified that the paid up share capital, turnover, or outstanding loans or borrowings as the case may be, existing on the last date of latest audited financial statement shall be taken into account.”. |
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