Answer Posted / varsha rani agarwal
Every Company whether public or private having a paid up
capital of Rs. 2 Crors or more has to emloy a whole time
company secretary.
However, companies having paid up capital less than Rs 2 Cr
but more than 10Lacs may or may not appoint a whole time
company secretary but has to obtain a Compliance
Certificate from a company Secretary in practice.
This law is goverened in Section 383(A) of the Companies
Act.
Secreterial Audit is the process of verification of records
and documents to check compliance with various provisions
of laws, rules, procedures, maintainance of books records
etc.It ensures timely corrective measures when non-
compliance is detected
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