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        Companies Law

        Section 581X - Secretary of Producer Company.

        Companies Act, 1956
        Chapter IXA
        CHAPTER I PRODUCER COMPANIES

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        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.
                          Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
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                                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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