A Company Secretary (CS) is a professional who is responsible for ensuring that a company complies with the legal and regulatory requirements under the Companies Act, 2013. They are appointed by the Board of Directors of a company and act as the link between the company and the government. In Bangalore, there are many professionals and firms that offer company secretary services.
A Company Secretary is responsible for ensuring that a company complies with the legal and regulatory requirements under the Companies Act, 2013. They are appointed by the Board of Directors of a company and act as the link between the company and the government.
They also advise the Board of Directors on governance and compliance matters and ensure that the company’s records are up-to-date. They also play an important role in the preparation and filing of various forms and returns with the Registrar of Companies.
The role of a Company Secretary also includes organizing and conducting meetings of the Board of Directors and shareholders, and maintaining the minutes of the meetings. They also assist in the preparation of financial statements and in the management of the company’s share capital. They also play a key role in the compliance of secretarial standards and Corporate Social Responsibility (CSR) activities.
The role of a Company Secretary is critical for the success of a business as they are responsible for ensuring compliance with legal and regulatory requirements, promoting good governance, and providing valuable advice to the management and Board of Directors.
1. Compliance: By ensuring compliance with legal and regulatory requirements, a Company Secretary helps to protect the business from potential legal and financial risks. This helps to maintain the reputation of the business and ensures that it can operate smoothly.
2. Good Governance: A Company Secretary promotes good governance within the business by advising the Board of Directors on governance and compliance matters, ensuring that the company’s operations are run in an efficient and transparent manner, and facilitating communication between the Board and shareholders.
3. Legal and Compliance advice: A Company Secretary provides valuable legal and compliance advice to the management and Board of Directors which helps the company to make informed decisions and avoid potential legal risks.
4. CSR: A Company Secretary plays a key role in the compliance of Corporate Social Responsibility (CSR) activities of the company as per the companies act 2013 which helps the company to build a positive image in the society and maintain its reputation.
5. Secretarial Audit: A Company Secretary conducts secretarial audit of the company in order to ensure compliance with laws, rules and regulations as per companies act 2013 which helps the company to identify any compliance gap and rectify it.
6. Capital Management: A Company Secretary assists in the management of the company’s share capital, including the issue of shares, transfer of shares, and buyback of shares. This helps the company to raise capital and manage its finances effectively.
7. Taxation and Accounting: The Company secretary helps to manage the business tax planning and accounting as part of the back-end system.
The role of a Company Secretary is vital for the success of a business. They help to ensure compliance with legal and regulatory requirements, promote good governance, and provide valuable advice to the management and Board of Directors, which helps the company to operate efficiently, effectively and sustainably.
To become a Company Secretary, one must pass the Company Secretaries (CS) Examination conducted by the Institute of Company Secretaries of India (ICSI). After clearing the CS examination, one needs to undergo practical training for 3 years and then pass the final examination. After that, they can register with the ICSI and can start practicing as a Company Secretary.
Overall, Company Secretary is a key professional who plays a vital role in ensuring compliance and good governance of the company. They provide a range of services to companies, including secretarial, legal, and compliance-related services. They help companies to stay compliant with the laws and regulations and ensure that the company’s operations are run in an efficient and transparent manner.
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We, Prakasha And Co, a Team of experienced and qualified Company Secretaries based in Bangalore, providing expert compliance and governance services to businesses for over 10 years. Our goal is to help companies navigate the complex legal and regulatory environment and ensure compliance with the Companies Act 2013 and other laws, for the success of our clients.
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