Section 204 - Secretarial audit for bigger companies - Companies Act, 2013

Secretarial audit for bigger companies 204. (1) Every listed company and a company belonging to other class of companies as may be prescribed shall annex with its Board's report made in terms of sub-section (3) of section 134, a secretarial audit report, given by a company secretary in practice, in such form as may be prescribed. (2) It shall be the duty of the company to give all assistance and facilities to the company secretary in practice, for auditing the secretarial and related records of the company. (3) The Board of Directors, in their report made in terms of sub-section (3) of section 134, shall explain in full any qualification or observation or other remarks made by the company secretary in practice in his report under sub-section (1). (4) If a company or any officer of the company or the company secretary in practice, contravenes the provisions of this section, the company, every officer of the company or the company secretary in practice, who is in default, shall be 1 [ liable to a penalty of two lakh rupees ] . ************* NOTES:- 1. Substituted vide THE COMPANIES (AMENDMENT) ACT, 2020 dated 28-09-2020 before it was read as punishable with fine which shall not be less than one lakh rupees but which may extend to five lakh rupees