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Retainership Secretarial services are performed by an expert practicing company secretary retained by the company for managing such services on the agreed terms of the pay and charges. It is an important part of corporate and strict penalties are imposed under the Companies and LLP Act.

Though appointment of a company secretary is not mandatory for all the companies, however if, your company does not have a Company Secretary, the Directors become totally responsible/liable for this work. If the company fail to comply with the rules and regulations, it is prone to multiple fines, penalties and prosecution.

Secretary in any company accounts to an important link in management department. The progress of the company assisted by continuous efforts of the secretary widens up the scope for the practicing secretaries to lend secretarial services to other small-sized companies which run without a full-time secretary.

For ensuring the regulatory compliance, the compliance mechanism under Company Act and LLP Act mandates to file return/ forms to Ministry of Corporate Affairs (MCA).

The Compliance condition related to the forms/ returns with the registrar of the companies can be classified into 2 categories:

1. Annual Statutory Compliances

• Annual Accounts Filing: The preparation of the Balance Sheets and Profit and Loss accounts on yearly basis is the primary prerogative of the companies. This report is presented before the Annual General Meeting of the company. Copy of the Annual Accounts has to be filed with the Registrar of Companies duly audited by a Chartered Accountant.
• Annual Return Filing: The company shall file annual return with Registrar of company within 60 days of AGM which contain the particulars like registered office address, details of registered members, report of the debenture holders, debentures, history of past and present managing directors.

2. Event Based Compliances

• Change of name
• Increased Authorized Shares/ Issuing Share
• Creation / Modification / Satisfaction of Charges on the Assets of Company
• Modification in registered office of the company
• Procuring Certification for commencement of business
• Statutory meeting of Public Limited Company
• Resolutions drafted by the board and Agreement entered by the company
• Appointment of higher authorities like directors and managers and changes in the duties and responsibilities