As the principalexecutive officer of the company, the secretary has certain statutoryobligations under the .Companies Act, Income tax Act and the Stamp Act, Sales.tax Act etc. If the secretary fails to carry out the statutory obligations orduties imposed on him by the various acts, certain liabilities are imposed onhim by the Companies Act and other acts. Such liabilities are called theStatutory liabilities. In short, statutory liabilities refer to all thoseliabilities imposed on the secretary by the Companies Act and other acts forhis failure to discharge his statutory duties.
The various statutoryliabilities imposed on the company secretary are:
1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. 12. 13. 14. 15. 16. 17. 18. 19. 20. Underthe Indian Stamp Act, the company secretary is responsible for verifying thecorrectness of documents needing stamps, etc.