Appointment of Company Secretary Latter

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The Institute of Company Secretaries of India (ICSI) is a body that regulates the rules for company secretaries. A company secretary is a person included in different compliance and legal aspects of a company.

The role of CS is to maintain the books of accounts, audit the tax return, and provide advice to the board of directors related to the legal and financial risks of the company. They ensure that the company will comply with all the regulations set by the authority.

Roles and Responsibilities of a CS

The appointed CS must perform the following functions that are provided in the Section 205 of the Act:

• Must report to the board of directors about the compliance statement of the company.
• Ensure that company is complying with all the secretarial standards
• Complete other duties, as prescribed by the company board of directors from time to time.

Process of Appointing a Company Secretary

As per the Section 203 of the companies act, 2013 and Rules 8 and 8A of Companies Rules 2014 state that the following companies must appoint a CS:

• Issue a notice to all the board of directors to commence a board meeting.
• File Form MGT-14 and DIR-12 within 30 days from the date of appointment. Inform the Registrar of Companies about the appointment.
• Manage a proper register of directors and other key personnel after the registration of the company secretary.
• For a listed company, inform the stock exchange where the shares of a company are listed.

Note: Company Secretary cannot hold more than one company at a time. But he/she can hold a subsidiary company simultaneously.