ABC Pvt. Ltd. is a subsidiary company of a XYZ Ltd. having a paid up capital of ₹60 Crore and Turnover of ₹180 crore as per the audited balance sheet as on 31st March, 2021. Referring to the provisions of the Companies A

As per section 204 of the Companies Act, 2013 read with rule 9 of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014, every listed company or every public company having a paid-up share capital of fifty crore rupees or more; or every public company having a turnover of two hundred fifty crore rupees or more; or every company having outstanding loans or borrowings from banks or public financial institutions of one hundred crore rupees or more. Secretarial Audit is also applicable to a private company which is a subsidiary of a public company, and which falls under the prescribed class of companies. In view of above provisions, ABC Pvt. Ltd. is obliged to conduct the Secretarial Audit.