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

CS Professional · Secretarial Audit, Compliance Management and Due Diligence · PYQS · June 2021
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 Act, 2013, answer the following: What are the penal provisions, if Secretarial Auditor doesn't comply with the provisions of section 143 (12) of the Companies Act, 2013?

Answer & Explanation:

As per section 143 (15) of Companies Act, 2013, If any auditor, cost accountant or company secretary in practice do not comply with the provisions of sub-section (12) of section 143 of the Act: in case of a listed company, be liable to a penalty of five lakh rupees; and in case of any other company, be liable to a penalty of one lakh rupees.

Topics: Secretarial Audit

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