Recent Notification: Amendment in Rule 9 of Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014
Recent Notification by MCA has given a Shock to entire CS Fraternity as it has putdown many job opportunities for Company Secretaries. But at the same time there have been a slight increase in opportunity for a Practicing Company Secretary in area of Secretarial Audit.  MCA with vide notification dated January 03, 2019 has amended Rule 8A and 9 of  Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014 regarding Appointment of Whole Time Company Secretary and Scope of Secretarial Audit for Companies.
For Better Understanding I have covered Amendment under Rule 8A of Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014 in a different Article and in this article I have talked about Rule 9 of  Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014.
Interpretation of Old Provision, Every Listed Companies and following class of companies had to submit Secretarial Audit Report signed by Company Secretary in Practice Report with Board Report as per Sec 134(3):-
(a) Every public company having a paid-up share capital of fifty crore rupees or more; [or]
(b) Every public company having a turnover of two hundred fifty crore rupees or more;
New Amended Rule 9 (Secretarial Audit Report)
For the purpose of Sec 204(1) of Companies Act, 2013, Every Listed Companies and following class of companies have to submit Secretarial Audit Report signed by Company Secretary in Practice Report with Board Report as per Sec 134(3):-
(a) Every public company having a paid-up share capital of fifty crore rupees or more; [or]
(b) Every public company having a turnover of two hundred fifty crore rupees or more; [or]
(c) Â Every company having outstanding loans or borrowings from banks or public financial institutions of one hundred crore rupees or more.
Interpretation of New Provision:
Along with all Listed Companies and Public Companies having Paid-up Share Capital of 50 Crore or more OR Public Companies having turnover of 250 Crore or more.
Every company (whether Private or Public) having outstanding loans or borrowings from banks or public financial institutions of one hundred crore rupees or more also have to submit Secretarial Audit Report signed by Company Secretary in Practice with Board Report as per Sec 134(3).
Source- Companies (Appointment and Remuneration of Managerial Personnel) Amendment Rules, 2020
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Nice Article with Good interpretation.