Company Secretary - Quick Revision Sheet
Quick revision
Key facts
| Item | Fact |
|---|---|
| Origin of 'secretary' | Latin 'Secretarius' = secret |
| Definition | Section 2(24), Companies Act, 2013 |
| Qualifications prescribed | Section 2(45); compulsory since the 1994 amendment |
| Paid-up capital 5 crore or more | Member of the Institute of Company Secretaries of India |
| First secretary | Appointed by promoters, named in the Articles |
| Minutes of meetings | Within 30 days |
| Share certificates | Within 2 months |
| Removal | Law of master and servant; board may remove at any time |
| Winding up | Secretary is a preferential creditor |
| Statutory meeting | 1 to 6 months after commencement of business; once in a lifetime |
| First AGM | Within 18 months of registration |
| Gap between AGMs | Not more than 15 months |
| First board meeting | Within 30 days of incorporation |
| Audit committee | Listed companies and public companies with 10 crore paid-up capital; meets at least 4 times a year |
| Ordinary resolution | Simple majority |
| Special resolution | Not less than 75 percent (3 times the votes against) |
| Special notice | At least 14 days before the meeting |
| Open voting | Voice; show of hands |
| Secret voting | Ballot; postal ballot |
| Quorum | Requisite number of persons present |
| Proxy | Need not be a member; form 48 hours before the meeting |
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