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of <h1>Companies Act Update: Voluntary Full-Time Secretary Exempts Companies from Compliance Certificate if Share Capital is 10 Lakh+ Rupees.</h1> The circular clarifies that under the Companies Act, 1956, companies not mandated to appoint a whole-time secretary but voluntarily doing so are exempt from obtaining a compliance certificate from a practicing company secretary. This applies to companies with a paid-up share capital of ten lakh rupees or more. The clarification, made in consultation with the Department of Legal Affairs, specifies that employing a full-time company secretary satisfies the compliance requirement, eliminating the need for an additional certificate. The circular requests that this information be disseminated to relevant constituents.
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