Private companies with debts may soon have to undergo mandatory secretarial audit

The government may soon mandate private companies with outstanding debts above a certain threshold undergo a mandatory secretarial audit, a senior government official said Saturday.

“Mandatory secretarial audit is right now restricted to listed companies, but I think it may have to get extended to private companies which have outstanding (debts ) beyond a threshold,” Corporate Affairs Secretary Injeti Srinivas said while speaking at the 51st foundation day of the Institute of Company Se ..