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Secretarial Compliance Report
A Secretarial Compliance Report is a mandatory filing required under the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. It is applicable to listed companies and involves a detailed review of compliance with various corporate laws, SEBI regulations, and other legal frameworks. The report must be certified by a practicing Company Secretary and is filed annually with the stock exchange(s).
The Secretarial Compliance Report ensures that listed companies adhere to corporate governance standards, SEBI regulations, and other applicable laws. It provides a detailed evaluation of the company’s compliance framework, including its policies, processes, and adherence to legal requirements. This report is critical for maintaining transparency and building stakeholder confidence.
Important
1. Regulatory Compliance : Ensures adherence to SEBI (LODR) Regulations, 2015.
2. Transparency : Demonstrates the company’s commitment to corporate governance.
3. Stakeholder Assurance : Builds trust among investors and stakeholders.
4. Avoidance of Penalties : Non-compliance attracts fines and reputational risks.
5. Audit Readiness : Prepares the company for regulatory inspections or audits.
Applicability
The Secretarial Compliance Report is mandatory for:
1. All Listed Companies : As per SEBI regulations.
2. Certain Listed Debt Securities : Companies with listed debt securities on recognized stock exchanges.
Documents Required
Features
Features & Benefits of Secretarial Compliance Report
Certified by PCS
Covers SEBI Regulations
Transparency in Governance
Annual Requirement
Secretarial Compliance Report
Compliance Audit
Focus on Disclosure
Penalty for Non-Filing
Stakeholder Confidence
Regulatory Safeguard
Comparison with Related Services
| Feature | Secretarial Compliance Report | Annual Return Filing | Corporate Governance Report |
|---|---|---|---|
| Objective | Evaluate SEBI compliance | Report corporate structure | Report governance practices |
| Applicability | Listed companies | All companies | Listed companies |
| Filing Authority | Stock Exchange (SEBI) | ROC | Stock Exchange |
| Certification Required | Yes (by PCS) | No | No |
| Filing Frequency | Annually | Annually | Quarterly |
| Penalty for Non-Compliance | High | High | High |
Frequently Asked Questions
Who is required to file the Secretarial Compliance Report?
All listed companies and companies with listed debt securities are required to file the report annually.
What is the deadline for filing the report?
The report must be submitted to the stock exchange within 60 days of the end of the financial year.
Who can certify the Secretarial Compliance Report?
Only a practicing Company Secretary (PCS) is authorized to certify the report.
What happens if a company fails to file the report?
Non-filing attracts penalties from SEBI and the stock exchanges, which can include monetary fines and reputational damage.
Can the Secretarial Compliance Report highlight non-compliance?
Yes, the report includes observations of non-compliance, corrective actions taken, and recommendations for improvement.
What is the difference between a Secretarial Compliance Report and a Secretarial Audit Report?
- Secretarial Compliance Report : Focuses on compliance with SEBI regulations.
- Secretarial Audit Report : Covers compliance with all corporate laws, including the Companies Act, 2013.