The role of Company Secretary is to ensure that the company complies with the statutory requirements. In the past few years, several corporate cases and frauds have come in the public eye after the Company Secretaries blew the whistle. Since then the position of Company Secretary is redefined as Risk Managers. They will therefore have to play a balancing role in this volatile regulatory environment. The onus lies completely on them and as such if they fall short to discharge their duties, they may face legal actions against them.
Legal Liability Scenarios:
|Particulars||Premium excluding Service Tax (INR)|
|Gross Income (INR) up to||25,00,000||50,00,000||1,00,00,000||2,00,00,000|