SC seeks govt's response on pleas against notification on company secretary

A plea has sought to form a high powered committee to look into the lapses which led to the closure of more than six lakh companies across the country

The Supreme Court on Wednesday sought response from the Centre on a plea against a notification which exempts public and private companies, having paid up capital of less than Rs 10 crore, from appointing a full time company secretary.

A bench comprising Chief Justice S A Bobde and justices A S Bopanna and V Ramasubramanian issued notice to the centre on a plea that has sought to form a high powered committee to look into the lapses which led to the closure of more than six lakh companies across the country.

It further sought to fix the corporate accountability and responsibility to