Draft rules with respect to Secretarial Audit under the Companies Act, 2013
Draft rules with respect to Secretarial Audit under the Companies Act, 2013 Section 204 (1) of the Companies Act, 2013 provides that every listed company and a company belonging to other class of companies as may be prescribed shall annex with its Board’s report made in terms of sub-section (3) of section 134, a secretarial audit report, given by a company secretary in practice, in such form as may be prescribed. The draft Rule 13.7. (1), however provides that the other class of companies shall be as under: Every public company having a paid-up share capital of one hundred crore rupees or more.” 2. We submit the following in this regard: a. Section 204 focuses on governance as also compliance with applicable laws, as evident from draft format issued alongwith draft rules. This can’t be overlooked for companies which have a paid up capital of less than Rs.100 crore.
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