Secretarial Audit Applicability Checker
Is your company required to have a mandatory secretarial audit under Section 204 of the Companies Act, 2013? Find out instantly with our interactive tool.
Quick Check
Answer a few quick questions to find out if you need a secretarial audit.
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Frequently Asked Questions
What is Section 204 Secretarial Audit?
Section 204 of the Companies Act, 2013 mandates that certain companies must conduct an annual secretarial audit by a qualified Company Secretary. It verifies compliance with statutory requirements and regulations.
Who is eligible to conduct a secretarial audit?
Only a Company Secretary (CS) in practice with at least 10 years of experience, or a firm of CSeCs, can conduct a secretarial audit. They must be enrolled with the Institute of Company Secretaries of India (ICSI).
What is the deadline for filing the secretarial audit report?
The report must be filed within 60 days from the conclusion of the Annual General Meeting (AGM). It's submitted in MR-3 format along with the Board's Report to the Registrar of Companies (ROC).
What are the penalties for not conducting a secretarial audit?
Company: Fine up to ₹5 lakhs. Directors/officers in default: Fine up to ₹1 lakh each. Additionally, criminal liability may be invoked for willful non-compliance.
What is an Annual Secretarial Compliance Report (ASCR)?
ASCR is a separate report required for listed companies by SEBI. It provides an overview of statutory and regulatory compliance and is submitted to the exchange within 30 days of the AGM.
What documents are needed for a secretarial audit?
Key documents include: Board minutes, AGM/EGM minutes, shareholding records, director details, loan agreements, compliance certificates, FEMA filings, and all statutory returns filed during the year.