The Secretarial auditor should identify and report all events/actions having major bearing on company's affairs in pursuance of applicable laws, rules, regulations, guideline and standards etc. Elucidate.

An event/action may be considered as having major bearing on Company's affairs includes the following situations: The Auditor shall assess and identify the material action or events having bearing on the Auditee's affairs in pursuance of the applicable laws, act, rules, regulations, guidelines, standards, etc. and report accordingly. The identification of the corporate actions of events having bearing on the Auditee's affairs in terms of applicable laws, act, rules, regulations, guidelines, standards, etc. is a subjective matter and need to be concluded keeping in mind various parameters. Such parameters may include the following: The consideration involved in the transaction as a percentage of the consolidated turnover, net worth or profit; The transaction whether or not in the ordinary course of business; The transaction representing a significant shift from the company's strategy; The omission of an event or information is likely to result in significant market reaction if the said omission came to light at a later date. Further, following are indicative actions and/or events may be considered to have a bearing on the Auditee's affairs: Future plans of Merger or Amalgamation. Revision in Rating(s). Fraud/defaults by promoter or key managerial personnel or by listed entity. Arrest of key managerial personal or promoter. Agreements [viz. shareholder agreement(s), joint venture agreement(s), family settlement agreement(s) (to the extent that it impacts management and control of the listed entity), agreement(s)/ contract(s) with media companies)], which are binding and not in normal course of business, revision(s) or amendment(s) and termination(s) thereof. Corporate Debt Restructuring. The Auditor shall disclose the material non-compliances and transactions as observed during the course of Audit. Conclusion: The Secretarial Auditor shall identify and report all events/actions having major bearing on the Company's Affairs.