Responsibilities of the Company Secretary

Company Secretary:

A Company Secretary is basically a person who holds the senior position in a company, both private and public. Having the position is equivalent to that of a manager, a Company Secretary ensures smooth and efficient administration of their company.

Qualification:

1. Belonging to a recognised professional accountant’s organisation.
2. Belonging to a recognised Corporate/ Chartered secretaries.
3. Degree in Master of Business Administration or Commerce.
4. Graduate in Law, from a recognised university with work experience in the same.
5. For single member Company – having bachelor’s degree from a known university.

Powers and Rights:

A Company Secretary has the power to sign the statutory returns and applications. He/she has no special right but is limited to their tenure of contract.

Duties of the Company Secretary:

The “employment contract” states the duties of a company secretary which are as follows:

1. Secretarial duties:

• To ensure if all the rules and laws made by the company are strictly followed.
• To check business done by the company, as well as other affairs, adhere to the objectives mentioned in its Memorandum of association.
• Consulting the Chairman and setting the agenda for all the meetings of the board of directors, including the general, annual and the extraordinary general meetings.
• To organise and attend meetings of the board and preparing accurate documentation of proceedings, fulfilling all legal requirements.
• Conduct matters related to the allotment of shares and issuing of share certificates. This will also include maintaining the statutory Share Register and carrying out activities associated with share transfers.
• Preparation, approval and signing and sealing of agreements leases, and other official documents including the legal forms. This duty is given by the executive of the company.
• To give advice in legal matters to the executives of the company.
• Defending the rights of the company in the Court of Law by seeking help from legal advisors.
• Take custody of the seal of the company.

2. Legal obligations:

• To fill forms and returns as per the norms and requirement of the Companies Law.
• Cross-check the legal requirements required for the allotment, issuance and transfer of share certificates.
• Not only discussing various matters with the directors but also implementing the policies framed by them.
• Handle dealings done between the company and shareholders.
• Ensuring timely payment of the dividend adhering to the provisions mentioned in the Companies Law.

3. Maintenance of statutory books:

The Secretary maintains registers that include information of members, directors, shares, contracts, investors and share-holders, mortgage, deals etc. and such data that is important for the company.