Now Private Limited Companies, irrespective of their capital, are not mandatory required to appoint KMP (Key Managerial Personnel).
MD, Whole-time Director, CEO, CFO and Company Secretary have been defined in the CA 2013 to be the KMPs of the Company.
Following Companies are mandatorily required to have KMP
Dear Sir/Madam,
I am CS Trainee i have come across an issue in my training regarding the provisions of Companies Act, 2013, our Company is having CFO since 2007 but as per the provisions of Section 203 of the Companies Act, 2013 CFO is also one of the KMP in the Company.
Now my query is how to treat existing CFO in this new ACt, whether we need to appoint him freshly in the BM and file DIR-12 & MR-1 or can we take note in the BM for making him as a KMP and file MR-1 as return of appointment, what is the procedure what should i do with this regard.
I kindly requested you to clarify my query.
Kindly reply me as soon as possible.
Thanking you.