Appointment of whole-time secretary required for qualifying producer companies; non-compliance attracts daily fines unless reasonable-efforts defence applies. Producer companies meeting the statutory turnover threshold for three consecutive financial years must appoint a whole-time secretary who is a member of ... Summary
Appointment of whole-time secretary required for qualifying producer companies; non-compliance attracts daily fines unless reasonable-efforts defence applies.
Producer companies meeting the statutory turnover threshold for three consecutive financial years must appoint a whole-time secretary who is a member of the Institute of Company Secretaries of India; failure attracts a daily fine on the company and officers in default, subject to a defence that reasonable efforts to comply were made or that the company lacked financial capacity to engage a whole-time secretary.
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