Challenges of the Company Secretary in Corporate Governance

A Company Secretary also known as a Compliance Officer is a senior position in a sector establishment and one of the positions, which is a part of the Key Managerial Personnel (KMP) of a company which includes the Board of Directors. Company Secretary is named as a Corporate Secretary in a publicly listed corporation. The responsibility of efficient administration of a company, particularly regarding ensuring of compliance with statutory and regulatory requirement and for ensuring that decisions of the Board of Directors, lies in the hands of a Company Secretary. The highest level in an organisation is the Managerial Level, where a Company Secretary is assigned for the same to ensure that the business complies with all the legal requirements and the company’s smooth operation.The Companies Act, 2013 states the compulsory appointment of a Company Secretary for the companies with the paid-up capital of ₹ 5 crores and more. Company Secretaries facilitates the CEO, Non- Executive Directors and other crucial areas using their comprehensive and practically learned skill set in Corporate Secretarial Practice, Finance, Corporate Governance and Law.