Position and scope for Company Secretaries under Companies Bill, 2013(in brief):
1. Company Secretaries as Key Managerial Personnel (KMP)
2. Removal of defence regarding appointment of CS
Under section 383A of the Companies Act, 1956, a defence of “poor economic condition” was available to companies regarding non-appointment of company Secretary.
But, Under the Companies Bill, 2013, the same defence has been removed. Now a company falling in the criteria to appoint Company Secretary cannot run away its liability to appoint a company Secretary...