Role of CS has become increasingly central to corporate governance

 

 

 

The role of the Company Secretary (CS) has become increasingly central to corporate governance, extending beyond compliance to strategic oversight. As a governance professional, the CS ensures that the company adheres to statutory requirements, regulatory guidelines, and best practices, acting as a critical link between the board of directors, shareholders, regulators, and other stakeholders. With the Ministry of Corporate Affairs (MCA) transitioning from the V2 to V3 portal, the responsibilities of the CS have expanded. The V3 portal, designed for enhanced efficiency, data security, and streamlined filing processes, requires greater diligence in ensuring accurate and timely submissions. The strict deadlines for filings place significant responsibility on the CS to coordinate all preparatory activities well in advance.

 

Practical challenges include delays in receiving audit reports from Chartered Accountants, which can obstruct timely filing, and technical issues with Digital Signature Certificates (DSC) on the new platform. To overcome these issues, the CS must proactively engage with auditors early in the process, schedule DSC updates and checks in advance, and implement a robust internal filing workflow with contingency plans. Regular training on the V3 portal and clear delegation of responsibilities within the compliance team can further mitigate risks and ensure seamless submissions. This transition underscores the CS’s evolving role as not only a statutory officer but a strategic custodian of corporate governance, responsible for risk mitigation, regulatory adherence, and safeguarding the company’s reputation. Effective planning, coordination, and proactive measures are key to navigating MCA V3 successfully.