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<h1>Clause 204: Listed Companies Must Include Secretarial Audit Report; Non-Compliance Fines Up to Five Lakh Rupees.</h1> Clause 204 of the Companies Bill, 2011 mandates that every listed company and certain other prescribed companies must include a secretarial audit report with their Board's report, prepared by a practicing company secretary. Companies must provide necessary assistance for the audit. The Board must address any qualifications or observations made in the audit report. Non-compliance by the company, its officers, or the company secretary results in fines ranging from one lakh to five lakh rupees.