09 July 2014
other than e-filing and preparing statutory books what are the other works generally done by a company secretary.Please tell me in details.
09 July 2014
The range of services that a Company Secretary is trained to carry out is wide. In actual practice, it will depend upon the size of the company he or she is working with. The nature of activities that the company is engaged in will also affect the type of services that a Company Secretary is required to provide.
Functions of a Company Secretary
A Company Secretary has been recognised in Companies Act 2013 as a KMP. The knowledge that he or she possesses makes him or her versatile enough to carry out functions in various areas like Secretarial, Corporate Governance, finance, accounts, legal administration and personnel division. Handling legal aspects that need to be covered for incorporation, formation, promotion, amalgamation, reorganisation or winding up of a company, are the responsibilities of a Company Secretary If a company goes public, then management of the public issue falls under the ambit of a Company Secretary's responsibility. All legalities involved with inter-corporate investments and loans are looked after by a Company Secretary. All responsibilities attached to meetings of Board of Directors are attached to the Company Secretary. He or she is responsible for scheduling them in consultation with other members of the management team, conduct the meetings and maintain all records related to the meetings. Depending upon the needs of the company that he or she is working for, a Company Secretary is required to handle matters related to central/state sales tax, excise laws, labour laws and corporate laws. Looking into the details of processing applications for management appointments and their remuneration is also the responsibility of a Company Secretary. A Company Secretary handles matters related to obtaining institutional finance. Responsibilities in this regard would include getting project approvals, obtaining relevant licences and permits, zeroing in on all requirements under the MRTP (Monopolies and Restrictive Trade Practices Act) and FERA (Foreign Exchange Regulation Act) and any other relevant legislation. The Company secretary is authorised to sign the annual returns of the company, as also represent the company when a situation demands it. The above-mentioned duties are just a broad guideline of what is expected of a Company Secretary.
After the implementation of Companies Act 2013 the area of CS has widened and greater responsibility has been casted.
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