Company Law - Committees comprise of Board Members along with experts in such field for which the Committee has been formed. However, the Board of Directors are ultimately responsible for the acts of the committee. Board is responsible for defining the committee role and structure....
Read MoreCompany Law - The Auditing Standard on Audit Engagement (CSAS-1), formulated by Auditing Standards Board (ASB) of the Institute of Company Secretaries of India (ICSI) and issued by the Council of the ICSI is mandatory for all the audit engagements accepted by the auditor on or after April 01, 2021. CSAS-1 is applicable to all the Practicing Company [&h...
Read MoreCompany Law - COMPANY SPECIFIC DISCLOSURES IN A DIRECTOR’S REPORT 1. Financial summary and highlights- The financial summary and highlights should be accompanied by the macro-economic, geo-political, financial, industry specific as well as any company specific information affecting the business of the company and the market in which it op...
Read MoreCompany Law - MINUTES Governing provisions: Section 118 of Companies Act, 2013 read with Secretarial Standard-1 and Secretarial Standard-2. As per the provisions of Section 118- Every company shall observe Secretarial Standards with respect to General and Board meetings (including Committee Meeting – as per explanation to Secretarial Standards) speci...
Read MoreCompany Law - Realising the need of growing Compliance Reporting mechanism in letter and spirit, SEBI came out with the Circular dated February 08, 2019 mandating Annual Secretarial Compliance Report to be submitted by a Company Secretary in Practice to the listed entity on an annual basis, regarding compliance of all applicable SEBI Regulations and Ci...
Read MoreCompany Law - Non Adherence to Secretarial Standards lands Companies in a soup ;ROC imposes penalty The Companies Act, 2013 has entered into a maturity phase as its inception is over seven years. Secretarial Standards were introduced to plug in the gap that the Act did not provide for as a measure of good Corporate Governance. Yet, the […]...
Read MoreCompany Law - The Institute of Company Secretaries of India 17th November, 2020 Dear Sir/Madam, Subject: Extension of last date to submit comments on exposure draft of Guidance Note on Auditing Standards on Secretarial Audit (CSAS-4) The Institute of Company Secretaries of India had issued first four Auditing Standards namely CSAS-1: Auditing Standard ...
Read MoreCompany Law - To set out the explanations, procedures and practical aspects in respect of the various provisions contained in the Auditing Standard on Secretarial Audit (CSAS-4), the Auditing Standards Board (ASB) of the Institute has brought out the Exposure Draft of the Guidance Note on Auditing Standard on Secretarial Audit (CSAS-4)....
Read MoreCompany Law - Clarification/ Guidance on applicability of Secretarial Standards on Meetings of the Board of Directors (SS-1) and General Meetings (SS-2). As you are aware, Section 118(10) of the Companies Act, 2013 provides for mandatory observance of SS-1 and SS-2 by all companies....
Read MoreCompany Law - The Secretarial Standard on Meetings of the Board of Directors (SS-1) and Secretarial Standard on General Meetings (SS-2) issued by the Institute of Company Secretaries of India (ICSI) under Section 118(10) of the Companies Act, 2013 are effective from 1st July, 2015....
Read MoreF. No. ICSI/6/2017 - (16/08/2017) - F. No. ICSI/6/2017.—The Notification ICSI No.1 (SS) of 2015 dated 23rd April, 2015, published in the Gazette of India, Part III, Section 4, with regard to (i) SS-1: Secretarial Standard on Meetings of the Board of Directors and (ii) SS-2: Secretarial Standard on General Meetings, stands withdrawn*...
Read MoreI/SSB/2015 - (26/06/2015) - These Secretarial Standards (SS-1 and SS-2) shall apply to Board Meetings and General Meetings, in respect of which Notices are issued on or after 1st July, 2015....
Read More1/3/2014-QL-I - (10/04/2015) - Approval of Central Government under sub-section (10) of section 118 of the Companies Act, 2013 is hereby accorded to the Secretarial Standards (SS) namely SS-1 on Meetings of the Board of Directors and SS-2 General Meetings....
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