Question 1

Who is Company Secretary

Accepted Answer

A Company Secretary is a key managerial personnel of the company, responsible for ensuring compliance of all the legal and regulatory requirements related to the Company. The Secretary acts as a mediator between the board of directors of the company, management and stakeholders.
A Practicing Company Secretary is a person who has a certificate of practice from the Institute of Company Secretaries of India (ICSI). They are authorized to offer professional services to the clients. Their services mainly include consultancy and guidance on Company Law and other allied laws.

Question 2

Difference between Company Secretary and Practicing Company Secretary

Accepted Answer

A Company Secretary is an employee of a company and key managerial personnel of the Company appointment as per applicable provisions of the Companies Act, 2013 responsible for the compliance of applicable laws and regulatory requirements. This role is critical in ensuring that the company operates in a legal ethical manner.
A Practicing Company Secretary is an independent professional offering external consultancy services to the clients. Their services are important for companies to meet their legal and regulatory obligations. They also manage risk and maximize efficiency.
The role and level of authority of a Practicing Company Secretary is more than the Company Secretary who is in employment,

Question 3

What are the duties of a Company Secretary

Accepted Answer

The duty of a Company Secretary is to ensure that the company complies with all legal and regulatory requirements, board meeting compliance and maintenance of Statutory records/ documents, advise the board on corporate governance issues and act as a liaison between the company and the stakeholders.

Question 4

What are the services offered by a Practicing Company Secretary

Accepted Answer

A Practicing Company Secretary (PCS) is a professional person who offers a variety of services which are related to corporate compliance and governance. These services can vary as per their expertise, but generally they are as follows:
Incorporation of companies/Limited Liability Partnerships/One Person Company/Section 8 Companies: A Practicing Company Secretary assists in the incorporation, by offering guidance regulatory needs for registration.
Annual compliance: A Practicing company secretary helps companies to comply with the various legal and regulatory requirements of the Companies Act, 2013. This includes maintenance of the registers, preparation and filing of the annual returns and holding Annual General Meetings(AGMs) and other meetings.
Corporate governance: A Practicing Company Secretary provides guidance to the companies on various matters which are connected to corporate governance like board composition, disclosure and transparency, board committees etc.
Secretarial audit: A Practicing Company Secretary conducts secretarial audits of the companies with right to their compliance with the legal and regulatory requirements and also give recommendations for improvements.
Due Diligence: A Practicing Company Secretary conducts due diligence for the companies in mergers and acquisitions transactions, like reviewing the documents, conducting interviews and even preparing the reports on compliance and governance issues.
Trademark and Intellectual Property (IP) registration: A Practicing Company Secretary assists in the registration of the trademark and such IP rights of the company which also includes filing and prosecution of trademark applications.
Representation before the regulatory authorities: A Practicing Company Secretary is authorized to represent the client before any regulatory authority like the Registrar of Companies, SEBI ( Securities and Exchange Board of India ) and other authorities.
In conclusion, a Practicing Company Secretary covers many aspects of corporate compliance and governance. These include incorporation, corporate governance, annual compliance, due diligence, secretarial services like audit, trademark and IP registration and also representation of the company before the regulatory authorities.

Company Secretaries And Practising In Allahabad

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Frequently Asked Questions