Section 204 – Secretarial Audit
Key Points:
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Certain classes of companies, like listed companies or large public companies, must have a secretarial audit conducted by a Company Secretary (CS).
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The secretarial audit focuses on compliance with the Companies Act, SEBI regulations, and other laws.
Compliance Steps:
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Engage a certified company secretary to carry out the secretarial audit.
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Ensure that the secretarial auditor's report is submitted to the board of directors and the RoC (Registrar of Companies).
Example:
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Hindustan Unilever (HUL) complies with this provision by engaging a qualified Company Secretary for secretarial audits, which ensures adherence to corporate governance norms and statutory compliance.
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