A Company Secretary in practice in non compliance of conducting secretarial audit shall be fined by ........

Companies Act-Phase (I & II) Audit and auditors

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A Company Secretary in practice in non-compliance of conducting secretarial audit shall be fined by ...

Min 1 lac up to 10 lacs

Min 5 lacs up to 25 lacs

Min 1 lac up to 25 lacs

Min 1 lac up to 5 lacs

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Explanation:

As per sub section (15) of section 143 of the Companies Act, 2013, if a secretarial auditor, has reason to believe that an offence involving fraud is being or has been committed against the company by officers or employees of the company, he shall immediately report the matter to the Central Government within such time and in such manner as may be prescribed. Failure to do so shall attract a fine which shall not be less than 1 lakh rupees but which may extend to 5 lakh rupees.