step of check list for secretarial audit
Important CHECK LIST FOR SECRETARIAL AUDIT and COMPLINANCE CERTIFICATE Status of the Company Private Company Check whether:
• the company has minimum paid up capital of Rs.1 lakh or such higher paid-up capital as may be prescribed. In case of an existing private company this requirement is to be complied within a period of two years from the commencement of the Companies (Amendment) Act,2000 i.e 13.12.2000.
• Company's Articles contain provisions-
• restricting the right to transfer its shares;
• limiting the number of members to fifty;
• prohibiting any invitation to public to subscribe its shares/debentures; and
• prohibiting any invitation or acceptance of deposits from persons other than its members director or their relatives Private Company which is a Subsidiary of a Public Company
• Check whether the company has a minimum paid up capital of 5 lakh rupees or such higher paid up capital, as may be prescribed. In case of existing public limited company, check that it has enhanced its paid up capital to five lakh rupees within two years from the commencement of the Companies (Amendment) ACt,2000 i.e. 13.12.2000. Note:- A company registered under section 25 before or after the commencement of the Companies (Amendment) Act,2000 shall not be required to have minimum paid up capital specified above.
However, a guarantee company having share capital should have minimum paid up capital specified above Memorandum of Association
• Check whether the provision of the memorandum was altered with respect to situation of the company's registered office from one State to another during the yea, If so, check whether:
• the company has passed a special resolution and filed From No.23 with the ROC; • the Company Law Board confirmed the alteration; ....................
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CHECK LIST FOR SECRETARIAL AUDIT and COMPLINANCE CERTIFICATE
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