"Restoration of the provision of Section 383A regarding Appointment of whole time Company Secretaries"

Here comes the  much awaited amendment for all company secretaries.  MCA  vide notification G.S.R. 390 (E)  dated 09.06.2014  has made Amendment in The Companies (Appointment and Remuneration of Managerial Personnel)  Rules, 2014 by inserting Rule 8A.  The said  new Rule 8A  mandates Appointment of whole time Company Secretary in all companies including Private Limited Companies which has a paid up share capital of five crore rupees or more. This is the restoration of Section 383A of the Companies Act 1956 but increasing penalty under section 203 (5) for non appointment of  whole time Company Secretary with the enhanced role of company secretary under section 205 of the Act.