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Appointment of Key Managerial Personnel

Every company belonging to such class or classes of companies as may be prescribed shall have the following whole-time key managerial personnel—

 

(i) managing director, or Chief Executive Officer or manager and in their absence, a whole-time director; (ii) company secretary; and (iii) Chief Financial Officer.

Google Review Rating

4.9/5

Market Price

5000/-

Instabizfilings Price

₹ 2118 excl. GST

₹ 2499 incl. GST

Complete Date

27-04-2024
  • You Save INR 2500/- (50%) on the above Service.

    ROC Fees/Governemnt Fees will be charged at actuals

    Late fees if any will be beared by the Client/Customer.

Offers and Discount

No Cost EMI available available over Rs 3,000

10% Discount on your first purchase

18% GST Credit available

Scope of Work:

  • 1. Preparation of Board Meeting documents for appointment of KMP; 

     

    2. Preparation of documents for attachment in e-forms;

     

    3. Preparation of e-forms;

     

    4. Arranging for Certification of e-forms;

     

    5. Resubmission of e-forms, if any.

FAQs

1. Chief executive officer, manager or managing director;

2. Company Secretary;

3. Whole-time director;

4. Chief financial officer;

5. Such other officers, designated by the Board as KMP but are not more than one level below the directors in whole-time employment;

6. Such other officer as may be prescribed.

It is mandatory for any listed company and any company with a paid up capital of more than or equal to 10 lakhs to appoint a whole time KMP. Further, a company with at least 5 lakhs paid-up capital is required to employ a full-time company secretary(who is also a KMP).

No company shall appoint or re-appoint any person as its managing director, whole-time director or manager for a term exceeding five years at a time: Provided that no re-appointment shall be made earlier than one year before the expiry of his term.

KMP should not hold the office in more than one company the whole time except it is the subsidiary company. Also, KMP might become the director of any company with the approval of the board.

Every whole-time, KMP is appointed through a resolution of the board containing the conditions and terms of appointment, including remuneration.

As per company law, KMP is not required the appointment in the private company so that in case of appointment, or removal of director in the private company, MGT-14 is not filed with Registrar.

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