Question 1

What does your engagement process look like?

Accepted Answer

A 30-minute scoping call to map the matter, followed by a written engagement letter with scope, deliverables, timeline and fixed fee. Once accepted, we open a matter file, request the document list, and start work with a single point of contact — the founder.

Question 2

How long does a typical matter take?

Accepted Answer

Advisory notes and clause reviews are usually turned around in 3–5 working days. Filings and secretarial matters follow the statutory calendar. Tribunal and transactional matters run on their own procedural timelines, which we confirm at engagement and update as milestones move.

Question 3

What documents will you need from us?

Accepted Answer

At a minimum: the company's certificate of incorporation, MoA and AoA, latest financials, list of directors and shareholders, and any contracts or notices relevant to the matter. A detailed document checklist is shared with the engagement letter so nothing is asked for twice.

Question 4

Are Secretarial Standards binding on private companies?

Accepted Answer

Yes. SS-1 (Board Meetings) and SS-2 (General Meetings) issued by the ICSI are binding on all companies (other than OPCs and Section 8 companies with limited relaxations) by virtue of Section 118(10) of the Companies Act, 2013.

Question 5

What is a related-party transaction under Section 188?

Accepted Answer

A related-party transaction is a contract or arrangement with a related party as defined under Section 2(76), covering specified categories such as sale, purchase, leasing, appointment to office of profit, and underwriting. Section 188 prescribes the approval requirements — audit committee, board and, in certain cases, shareholders.

Question 6

Do I need to record RPTs in a register even if they are at arm's length?

Accepted Answer

Yes. Every contract or arrangement to which Section 188 applies must be entered in the register maintained in Form MBP-4, whether or not it is at arm's length and in the ordinary course of business.

Question 7

When is an independent director required for a private company?

Accepted Answer

Independent directors are not mandatory for private companies. They are required for listed companies and certain classes of public companies under Section 149(4) and Rule 4 of the Companies (Appointment and Qualification of Directors) Rules, 2014.

Question 8

What is the purpose of a regulatory risk register?

Accepted Answer

A risk register maps each recurring regulatory obligation to the owner, due date, evidence and current status. It is the working document a board or general counsel refers to for a real-time view of the compliance posture.

Question 9

Do private companies need an insider-trading code?

Accepted Answer

No. The SEBI (Prohibition of Insider Trading) Regulations, 2015 apply to listed companies and to companies that have their securities listed or proposed to be listed. Private companies are not covered.

Corporate Regulatory Risk Assessment & Advisory

Recent notes on this practice area

Small company threshold raised to ₹10 crore / ₹100 crore — who now qualifies, and what changes

Section 203A — the proposed resignation process for whole-time KMPs