Can company secretary be a director?
Can company secretary be a director?
Thus a company secretary can be appointed as an executive director of other company. As per Section 203 a person can be Managing Director in more than one Company with the approval of the Board of Director of First Company.
What is the difference between company secretary and director?
Company Officers Directors are appointed by members (shareholders and guarantors) to run and manage the day-to-day operations of the business. Secretaries are optional for private companies, but not public companies. They are usually appointed to assist directors with important administrative tasks.
Can a CS be a director in same company?
The Council of the Institute at its 156th Meeting held on March 19-20, 2005, in exercise of its powers under regulation 168 of the Company Secretaries Regulations, 1982 has accorded general permission to its members in practice to become non-executive director/promoter/promoter director/subscriber to the Memorandum and …
Can directors remove company secretary?
A secretary can be removed from a private limited company at any time by a simple majority vote of the directors or by ordinary resolution of the members, subject to any service contract in force. Directors must approve a resolution to remove a secretary – this can be done at a board meeting or by written resolution.
Can a company secretary become a CEO?
A company secretary can be the CEO of the company too, which keeps his/her position close to the board of directors. So, now you can understand that a CS in someone who is engaged in multiple areas for the effective administration of the company.
Can a PCS be a director?
yes he can act as a pcs as well as a Director and also he has to give the declaration under section 299.
Is company secretary higher than director?
The difference between a company director and secretary is that a company secretary is an appointment by the company directors. A secretary assists with duties that could increase the company’s efficiency. Almost all the directors’ duties can be assigned to a company’s secretary.
Who appoints company secretary?
He/she may be appointed by the incorporaters of a company within 40 days of the incorporation of the company or by the directors of the company or by the shareholders through an ordinary resolution subsequently.
Can a CEO be a company secretary?
A company secretary can be the CEO of the company too, which keeps his/her position close to the board of directors. Let’s discuss some other responsibilities of a CS.
Can a company have a single director?
There is no statutory limit to the number of directors a company appoints during or after incorporation, but there must always be at least one natural (human) company director. A single person can be the sole director and shareholder of a company.
Who terminate a company secretary?
Whenever a person is appointed as company secretary, an employer-employee relationship exists between him and the company. If the board of directors is not satisfied with the work of the secretary, they can terminate him subject to serving a written notice to the secretary as is mentioned in the contract of service.
Who Earns More CA or CS?
CA vs CS: Salaries The average salary for CA is more than CS. According to Glassdoor, the average salary for a Company Secretary in India is Rs 6 lakhs while the average salary of a Chartered Accountant in India happens to be around Rs 8 Lakhs.
What is salary of CS?
Pay Scale/Salary of Company Secretary (CS)
| Job Profile | Starting Salary per annum (in INR) | Senior Level Salary per annum (In INR) |
|---|---|---|
| Company Secretary | Rs. 3,00,000 | Rs. 9,00,000 – 12,00,000 |
| Legal Advisor | Rs. 3,00,000 | Rs. 10,00,000 |
| Principal Secretary | Rs. 3,00,000 | Rs. 9,00,000 – 12,00,000 |
Are independent directors paid?
At the lowest slab of Rs 12 lakh a year independent directors could still draw thrice the amount that would have been payable for four board meetings in a year. “The fees paid to independent directors for attending board meetings is fair compensation.
Can a CS become CEO?
Is it compulsory to have a company secretary?
All companies need to appoint a corporate secretary. However, companies may not follow the same approach in the appointment process. The Companies Act gives a list of requirements to guide companies as they select a corporate secretary that is best suited for the position.
Is a CEO higher than a director?
THE CEO. Most companies will have several executive directors responsible for the day to day running of the business and these director report directly to the CEO. While CEOs do run the company, they are (at least theoretically) responsible and accountable to the board of directors and its chairman.
Can a single director resign?
A sole director is actually able to resign as a director, leaving the company with all the consequences that might follow, without being in breach of their duties to the company.