What is Secretarial audit for bigger companies? What are the Functions of company secretary? Section 204 and 205 of Indian Companies Act 2013

Secretarial audit for bigger companies and Functions of company secretary are defined under Section 204 205 of Indian Companies Act 2013. Provisions under these Sections are:

Section 204 of Indian Companies Act 2013 "Secretarial audit for bigger companies"

(1) Every listed company and a company belonging to other class of companies as may be prescribed shall annex with its Board’s report made in terms of sub-section (3) of section 134, a secretarial audit report, given by a company secretary in practice, in such form as may be prescribed.

 

(2) It shall be the duty of the company to give all assistance and facilities to the company secretary in practice, for auditing the secretarial and related records of the company.

(3) The Board of Directors, in their report made in terms of sub-section (3) of section 134, shall explain in full any qualification or observation or other remarks made by the company secretary in practice in his report under sub-section (1).

Punishment for violation of Section 204 of Companies Act 2013 regarding Secretarial audit of Bigger Companies

(4) 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.

Section 205 of Indian Companies Act 2013 "Functions of company secretary"

(1) The functions of the company secretary shall include, -

(a) to report to the Board about compliance with the provisions of this Act, the rules made there under and other laws applicable to the company;

(b) to ensure that the company complies with the applicable secretarial standards;

(c) to discharge such other duties as may be prescribed.

Explanation.—For the purpose of this section, the expression “secretarial standards” means secretarial standards issued by the Institute of Company Secretaries of India constituted under section 3 of the Company Secretaries Act, 1980 and approved by the Central Government.

(2) The provisions contained in section 204 and section 205 shall not affect the duties and functions of the Board of Directors, chairperson of the company, managing director or whole-time director under this Act, or any other law for the time being in force.

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What is Secretarial audit for bigger companies? What are the Functions of company secretary? Section 204 and 205 of Indian Companies Act 2013

What is Power to call for information, inspect books and conduct inquiries? What is power to Conduct of inspection and inquiry? Section 206 and 207 of Indian Companies Act 2013

What is Report on inspection made? What is Search and seizure? What is Investigation into affairs of company? Section 208,209 and 210 of Indian Companies Act 2013

What is Establishment of Serious Fraud Investigation Office? Section 211 of Indian Companies Act 2013

What is Investigation into affairs of Company by Serious Fraud Investigation Office? Section 212 of Indian Companies Act 2013

What is Investigation into company’s affairs in other cases? Section 213 of Indian Companies Act 2013

What is Security for payment of costs and expenses of investigation Firm, body corporate or association not to be appointed as inspector? Section 214 and 215 of Indian Companies Act 2013

What is Investigation of ownership of company? What is Procedure, powers, etc., of inspectors? Section 216 and 217 of Indian Companies Act 2013

What is Protection of employees during investigation? Section 218 of Indian Companies Act 2013

What is Power of inspector to conduct investigation into affairs of related companies, etc Seizure of documents by inspector? Section 219 and 220 of Indian Companies Act 2013

 

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