Any firm with a paid-up share capital of Rs. 10 lakh or more but less than Rs. 10 crores must employ the services of a Secretary in full-time practice and this compliance certificate has to be issued by a practicing CS
One of the major areas, secretarial audit, is unquestionably a thorough representation of the legislature’s and government’s reliance on the Company Secretaries to inculcate corporate discipline and ensure compliance with legislation.
Company Secretaries who have passed the necessary examinations, have a prescribed number of years of experience, are enrolled with an Insolvency Professional Agency, and are registered with the Insolvency and IBBI as Insolvency Professionals, can take up matters relating to corporate insolvency resolution as interim resolution professionals/resolution professionals, as well as voluntary liquidation cases.
When a company’s stocks, shares, debentures, securities, or other assets are to be valued, they must be valued by a person with the stipulated qualification and experience and who is registered as a valuer in the manner and on the terms and conditions as prescribed.
Company Secretaries provide value-added services to trade and industry by functioning as extended arms of regulatory mechanisms, with their expertise in the interpretation of laws and skills in tackling and managing regulatory compliances under GST.
Companies in the prescribed class or classes are required to appoint an internal auditor to perform internal audits of the company’s duties and activities. [Section 138 read with Rule 13 of Companies (Accounts) Rules, 2014]