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Initial Setup or Ongoing Maintenance
Ongoing compliance requirement
Filing and Maintenance Requirements
Pursuant to the provisions of section 204 of the Companies Act 2013, every listed company and company belonging to class of companies as prescribed is required to annex with its Board‟s report, a Secretarial Audit Report given by a company secretary in practice
The secretarial audit is applicable to the following companies:
(a) A paid-up share capital of Rs. 50,00,00,000 (Rupees Fifty Crores only) or more; or
(b) A turnover of Rs. 2,50,00,00,000 (Rupees Two Hundred and Fifty Crores only) or more, shall annex with its board’s report, a secretarial audit report given by a company secretary in practice.
The board of directors, in their report shall explain in full any qualification or observation or other remarks made by the company secretary in practice in his report.
If a company or any officer of the company or the company secretary in practice, contravenes the provisions of this section, the company, every officer of the company or the company secretary in practice, who is in default, shall be punishable with fine which shall not be less than one lakh rupees but which may extend to five lakh rupees.
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