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Introduction and Its Compliance
Secretarial records are the significant statutory documents which are required to be maintained by the company under the Companies Act, 2013 and rules framed under such Act by the Ministry of Corporate Affairs (MCA). These include registers, minutes, resolutions, notices and disclosures that evidence the company’s internal decision-making and regulatory compliance. All the secretarial records of the company need to be well maintained for Private Limited, Public Limited, One Person Companies (OPC) and Section 8 Companies. It covers drafting / scrutinising of various documents, minutes, reports, registers and other secretarial records and conduct periodic review of all secretarial records maintained by the Company as required under the Companies Act, 2013 and Secretarial Standards prescribed by ICSI and ensuring that you remain compliant and audit ready anytime during the year.
Why It Is Needed
Maintaining secretarial records is a legal obligation for all companies under the Companies Act, 2013. These records reflect transparency, corporate governance and decision-making integrity. Non-maintenance of such records can lead to fines, disqualification of directors and other legal consequences during audits, inspections or litigation. Investors and financial institutions often demand updated secretarial documents during due diligence. Lawfinity makes sure your secretarial records are forever up-to-date and regulatory compliant and can be inspected in seconds thus relieving the pressure on in-house teams and protecting against regulatory issues.
Benefits and Advantages
- Ensures Legal Compliance Secretarial records demonstrate that the company adheres to the Companies Act, reducing legal exposure and enhancing governance.
- Improves Corporate Governance Maintaining accurate board minutes, resolutions and registers promotes transparency and responsible management practices.
- Essential for Audits & Due Diligence Updated records are required during statutory audits, investor reviews, M&A transactions and funding rounds.
- Avoids Penalties & Disqualification Lawfinity helps prevent penalties under the Companies Act by ensuring all records are timely and accurately maintained.
- Supports Director Protection Proper documentation helps directors prove compliance and decisions made in good faith, offering legal protection.
Eligibility Criteria
The following entities must maintain secretarial records:
- Private Limited Companies
- Public Limited Companies
- Section 8 (Non-profit) Companies
- One Person Companies (OPCs)
- Companies having paid-up capital ≥ ₹10 crore or turnover ≥ ₹50 crore (mandatory appointment of CS)
- Companies required to follow Secretarial Standards (SS-1 & SS-2)
Documents Required
- Certificate of Incorporation
- MOA and AOA
- Board & Shareholder Meeting Notices
- Minutes of Board/General Meetings
- Shareholder and Director Registers
- Statutory Registers (MGT-1, SH-2, MBP-1, etc.)
- Financial Statements and Auditor Reports
- Resolutions and Approvals
- Proof of Annual Filings with MCA
Steps for Applying
- Company Assessment: Lawfinity reviews your company’s structure and compliance requirements.
- Record Audit: We check existing statutory records and identify any gaps or defaults.
- Documentation & Update: Missing registers, resolutions and minutes are prepared and validated.
- Standardization & Formatting: All records are aligned with Secretarial Standards and MCA requirements.
- Ongoing Maintenance: Lawfinity provides periodic updates and reminders to maintain compliance.
Penalties
- Failure to maintain secretarial records may result in: Penalty of ₹50,000 to ₹3,00,000 on the company
- Penalty of ₹50,000 and imprisonment or fine for officers in default
- Director disqualification in case of continued non-compliance
- Additional penalties for non-maintenance of specific registers under Rule 3 of the Companies (Management and Administration) Rules, 2014
- Lawfinity helps avoid such liabilities through proactive and accurate record keeping.
Timelines
Record review and compliance check
3 to 5 working days
Preparation of statutory registers
5 to 7 working days
Board/General meeting record update
Within 30 days of meeting
Ongoing compliance
As per annual compliance calendar
Timelines may vary depending on document verification and government approvals.
Fee
Frequently Asked Questions
Because every great business starts with the right answers.
These are statutory registers, meeting minutes, resolutions and disclosures maintained as per the Companies Act.
Yes, all companies, including private limited companies, must maintain secretarial records.
Lawfinity can help recreate missing documents using available company data and past filings.
They should be updated after every Board or General Meeting and annually before filing returns.
The Company Secretary or designated company officers are responsible. Lawfinity can act as your outsourced secretarial partner.
Yes, both statutory auditors and MCA inspectors review these documents during inspections.
Yes, even startups are required to maintain secretarial records to stay compliant.
Yes, we offer end-to-end secretarial support both onsite and remotely across India.
We use standardized templates, regular audits and expert legal oversight to ensure all records are compliant and up-to-date.
Voices of Success
Hear from those who have thrived with us and discover how businesses have transformed and grown with our expert guidance and support.
Anil Yadav
Shaperz India Grain Private Limited
“From FSSAI to Trade License, Lawfinity handled all our approvals efficiently. One-stop solution for all licensing needs.”
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