According to Section 203 of the Companies Act, 2013,

Solution

This provision is governed by Section 203 of the Companies Act, 2013, along with Rule 8 of the relevant rules. 1. The Statutory Requirement (Section 203(1)) Every company belonging to such class or classes of companies as may be prescribed shall have the following whole-time Key Managerial Personnel (KMP):

• (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.

2. The Prescribed Class (Rule 8) The rules specify that the following companies must appoint the full suite of whole-time KMPs:

• Every Listed Company (regardless of capital).
• Every other Public Company having a paid-up share capital of ₹10 Crore or more .

3. Note on Private Companies (Rule 8A) There is a separate rule ( Rule 8A ) for private companies. A private company (which does not have a paid-up share capital of ₹10 crore or more) is not required to appoint the full set of KMPs (MD, CFO, etc.). However, if a private company has a paid-up share capital of ₹10 crore or more , it is required to appoint a whole-time Company Secretary .