CSEET · Business Laws and Management · Management Knowledge for Company Secretaries
Consider these statements about the Company Secretary as a key managerial personnel (KMP) in a listed company. Statement I: A Company Secretary appointed as a whole-time officer is included among the KMP. Statement II: KMP are appointed by the Registrar of Companies. Which is correct?
Only Statement I is correct. A Company Secretary is one of the key managerial personnel under the Companies Act, 2013, but KMP are appointed by the company's board of directors and not by the Registrar of Companies.
- ABoth statements are correct
- BOnly Statement I is correctCorrect
- COnly Statement II is correct
- DBoth statements are incorrect
Explanation
The Companies Act, 2013 lists the Company Secretary among the KMP, along with the CEO/MD/manager, whole-time directors and CFO. KMP are appointed by the board of directors, not by the Registrar, so Statement II is wrong.
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