Not Relevant for Exams
Applicability
As per section 204 of the Companies Act, 2013 read with Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014, following companies are required to obtain ‘Secretarial Audit Report’ form independent practicing company secretary;
(1)   Every listed company
(2)   Every public company having a paid-up share capital of Fifty Crore rupees or more; or
(3)   (b) Every public company having a turnover of Two Hundred Fifty Crore rupees or more.
 
Meaning
It is a process to check compliances made by the Company under Corporate Law & other laws, rules, regulations, procedures etc.