1. The threshold limit changed from 5 Crores to 10 Crores of the Paid-Up Share Capital for the appointment of CS in a Private Company.
2. The additional criteria of outstanding loans or borrowings from banks or public financial institutions of 100 Crore or more for ALL COMPANIES have been inserted in addition to the share capital and turnover criteria which is applicable only on public Companies.
Effective date: April 1, 2020
Source: Companies (Appointment and Remuneration of Managerial Personnel) Amendment Rules, 2020