Secretarial compliance, refers to the adherence and fulfillment of legal and regulatory requirements related to corporate governance and company law by a company or organization. It involves ensuring that the company’s activities, operations, and decision-making processes comply with the applicable laws, regulations, and guidelines.
Secretarial compliance typically covers a range of activities and responsibilities, which may include:
Statutory Compliance:
Ensuring compliance with various laws, rules, and regulations applicable to the company, such as the Companies Act, Securities and Exchange Board of India (SEBI) regulations, and other relevant legislation.
Board and Shareholder Meetings:
Facilitating and ensuring proper conduct and documentation of board meetings, general meetings, and committee meetings in accordance with legal requirements and best practices.
Maintenance of Statutory Registers and Records:
Keeping and updating statutory registers, such as the Register of Members, Register of Directors, and Register of Charges, as required by law.
Filing of Statutory Returns and Documents:
Timely and accurate filing of various forms, returns, and documents with regulatory authorities, such as the Registrar of Companies (RoC) and stock exchanges, as mandated by the applicable laws.
Compliance with Corporate Governance Guidelines:
Adhering to corporate governance guidelines and principles, which may include the adoption and implementation of a code of conduct.
Establishment of an effective board structure, and ensuring transparency and accountability in the company’s operations.
Disclosure and Reporting:
Providing accurate and timely disclosures and reports to regulatory authorities, stakeholders, and the public as required by law.
Including financial statements, annual reports, and other relevant disclosures.
Compliance Monitoring and Risk Management:
Establishing internal processes and controls to monitor compliance, identify potential risks, and mitigate them effectively. This includes periodic internal audits, compliance reviews, and risk assessment procedures.
Effective secretarial compliance is crucial for maintaining the legal and ethical integrity of a company.
Protecting the interests of stakeholders, and ensuring transparency and accountability in corporate affairs. It is often the responsibility of the company secretary.
Who plays a pivotal role in advising the board of directors and senior management on compliance matters and ensuring adherence to the applicable legal and regulatory framework.
To visit https://www.mca.gov.in
