J. K. Gupta & Associates - Delhi

Secretarial Audit – Major Compliances under Companies Act

Secretarial Audit is a process to check compliance with the provisions of various laws and rules/regulations/procedures, maintenance of books, records etc., by an independent professional to ensure that the company has complied with the legal and procedural requirements and also followed due processes. It is essentially a mechanism to monitor compliance with the requirements of stated laws and processes

Applicability

Every Listed Company or Every public company having a paid-up share capital of Fifty Crore Rupees or more; or every public company having a turnover of Two Hundred Fifty Crore Rupees or more. or Every Private Company which is subsidiary of Public Company with above criteria. The Secretarial Report shall be in form MR-3annexed with the Board Report

INITIAL REQUIREMENTS:

• Representation Letter from the Company
• List of other Acts applicable on the Company
• MOA & AOA of the company
• Copy of Joint Venture Agreement, Technical

Collaboration Agreement if any.

• Financial Statements of last year
• Events List

The secretarial auditor should verify the Compliances relating to following:

• Memorandum and/or Articles of Association.
• Disclosures
• Issue of shares and other securities
• Transfer and transmission of shares and other securities and related matters
• Deposits
• Charges
• Auditors

Meetings of directors/committees thereof, security holders and other stakeholders.

• Secretarial Standards
• Dividend
• Corporate Social Responsibility (CSR)
• Directors and Key Managerial Personnel (KMP)
• Loans to Directors, etc, and related party transactions
• Loans, Investments, Guarantees and Securities
• Registers, filing of forms, returns and documents

Our Proprietor Mr Jitesh Gupta is Eligible to be appointed as Secretarial Auditor of the Company. Mr Jitesh Gupta is also on the Panel of Experts as Mediators & Conciliators established by the Ministry of Corporate Affairs. He is a member of various core committees of ICSI and NIRC of ICSI and is on the panel of Peer Reviewers of ICSI. He was formerly the Board member of Auditing Standards of ICSI and was also a former member of the Expert Advisory Board of ICSI.

He is also a Member of the Corporate Governance Committee of the PHD Chamber of Commerce. He is been working under Insolvency laws from the Enactment of this act. Our Firm has vast Experience in Corporate laws and the team of professionals always helps the Corporate ineffective compliance of Corporate laws in the Companies.

Disclaimer: [This article has been prepared on the basis of information available till date. But professionals are advised to study the laws and compliance thoroughly before carrying out the insolvency process].