Liabilities of the Company Secretary
Liabilities of a Company Secretary can be classified into two Categories -Statutory Liabilities and Contractual Liabilities.
If the Company Secretary fails to perform his Statutory duties he can be punished or he pay the penalty as prescribed under the Act.
1. He will be liable for damages or any loss caused to the company due to his negligence, fraud or changes in terms of contract.
2. If the Secretary acts beyond his power he is liable.