Secretarial Audit

Business Compliances
1

I have a query…the paid up share capital of my company is 53.5 lakh. Is secretarial audit applicable? plz help

2

Hello @Heer_Mandaliya

Secretarial Audit is applicable to the following companies:

  1. Every listed company
  2. Every public company having paid up share capital of Rs. 50 crore or more.
  3. Every public company having a turnover of Rs. 250 crore or more.
  4. Every company having outstanding loans or borrowings from banks or public financial institutions of Rs. 150 crore or more.

Hence, in your case, if you Company is a public limited company, Secretarial Audit will be applicable.

You can read more about the provisions, objectives, applicability, etc of Secretarial Audit here:

Hope this helps!

3

Hi
As per rule 9 of The Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014, the secretarial audit will be applicable to pvt ltd companies if outstanding loans or borrowings from banks or public financial institutions exceed 100 crores.
However, its has been mentioned by you as 150 crores. Please check and make corrections

4

Hello @sai_sunanda12

Thank you, we appreciate your valuable feedback. We have updated the article in accordance with Rule 9 of The Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014.