The complexities in the modern corporate world are growing with technological evolutions and hyper-globalization. New laws are being created to monitor and manage different businesses. Old regulations are also continuously amended to create a more accountable corporate ecosystem. The scope of corporate secretarial services has expanded over the last decade due to these reasons. It plays a crucial role in keeping companies compliant with the applicable laws.
The demand for corporate secretarial services in India is rising because companies benefit from these services. It helps them to stay out of legal and financial troubles. Therefore, getting an expert opinion on legal matters is highly recommendable, especially when your company operates in multiple nations. Read on to learn more about the role of corporate secretaries and the benefits of outsourcing corporate secretarial services in India.
Roles and responsibilities of a company secretary
A company secretary plays a critical role in managing the administrative functions. However, the duties and responsibilities of a company secretary are much broader. Depending on the nature of your business, a company secretary can have different roles and responsibilities. Some of the most common responsibilities include the following.
- Corporate law advisory
One of the primary responsibilities of a company secretary is to offer expert advice on corporate laws governing an organization. Company secretaries have expertise in a wide range of commercial laws, including labor laws, securities laws, company laws, etc. Since they are aware of the details of these laws, they assist companies by providing legal advice on complex matters.
- Drafting legal documents
Drafting legal documents is a crucial responsibility of corporate secretaries. They are also responsible for overviewing these critical documents to ensure that there are no errors in the drafting. Furthermore, important company documents, including the memorandum of associations and articles of associations, are also drafting by company secretaries. In addition to these, they also have to create pre-incorporation contracts, BoD report, minutes of the meeting, legal opinion and advisory notes, legal petitions, offer for sale, prospectus, etc.
- Compliance officer
A company secretary is naturally the compliance officer for their respective companies. Any business has to comply with a large number of laws and regulations. These laws can be more complex when businesses operate across multiple nations and are subject to different jurisdictions. As a result, a compliance officer, and a company secretary has to ensure that the organization complies with all applicable laws.
Benefits of outsourcing corporate secretarial services in India
There are many benefits of outsourcing corporate secretarial services in India. Here are some of the most prominent ones.
The corporate secretarial service providers in India are known for offering affordable services. So, You don’t have to spend money building a team and training professionals.
These firms employ the best talent in the industry who have the required experience and expertise to solve even the most complex problems.
- Latest technology
These firms are known for deploying the latest technology to make processes more efficient. As a result, businesses can benefit from the latest technology without putting money upfront. Also, check our other blogs
Complying with all the applicable laws and regulations is essential for all businesses. It helps them avoid legal and financial challenges. Therefore, Hiring a corporate secretarial service provider in India is a cost-effective way to remain compliant.