Draft Board Resolution for Appointment of Company Secretary of Holding Company in its Subsidiary Company

Board-Resolution-Appointment-Company-Secretary-of-Holding-Company-in-its-Subsidiary-Company


As per the provisions of Section 203(3) of Companies Act, 2013 a whole-time key managerial personnel shall not hold office in more than one company except in its subsidiary company at the same time. Hence the KMP of holding company can also be appointed as KMP in its subsidiary company at the same time.

Draft Board Resolution for Appointment of Company Secretary of Holding Company in its Subsidiary Company

RESOLVED THAT pursuant to the provisions of section 203 read with Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014 other applicable provisions if any of the Companies Act, 2013 from time to time and as may be applicable (including any statutory modifications or reenactment thereof for the time being in force) the Board of directors of the Company be and hereby appoint Shri _____ who is already CS & KMP in the holding company __________ as the Company Secretary and classify him as the Key Managerial Personnel of the Company for a period of ____ years w.e.f. __________ without any remuneration from the Company, however he shall draw his salary and remuneration from its holding company only.”
RESOLVED FURTHER THAT Shri _______, the Directors of the Company be and hereby authorized to sign and file the Form MGT-14, MR- 1 and DIR-12 with ROC and to take all such steps as may be necessary, desirable or expedient to give effect to this resolution.
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