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of <h1>Producer Companies with over 5 crore turnover must hire a certified whole-time secretary or face daily penalties.</h1> Every Producer Company with an average annual turnover exceeding five crore rupees over three consecutive financial years must appoint a whole-time secretary. The appointed individual must be a member of the Institute of Company Secretaries of India. Failure to comply results in a penalty of one hundred rupees per day, up to a maximum of one lakh rupees. However, no penalty is imposed if it is demonstrated that reasonable efforts to comply were made or if the company's financial situation made it impossible to hire a whole-time secretary.
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