While at present there are 25,000-odd Company Secretaries (CS), working as employees of big industrial houses or practising independently, with the Indian corporate sector witnessing an exponential growth, India will need over 50,000 company secretaries (CS) in the near future.
Now, every company (listed and unlisted) having paid up share capital of Rs.10 Crore or more will have to compulsorily appoint a whole time company secretary and this amendment will be applicable from 1st April 2020 onwards, as per the Companies Act, 2013. This threshold limit was Rs 5 Crore earlier. Due to the increase in threshold limit, some are of the opinion that this will reduce job opportunities.
However, many senior CSs have dispelled this fear. Praveen Soni, Company Secretary, CMS Info Systems Limited, Mumbai says “the increase in threshold limit will not have any adverse impact. I have not heard a single case where the working CS has....
