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Company Law : ROC Mumbai penalised a company and its Managing Director for omitting disclosure regarding compliance with Secretarial Standards i...
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Company Law : Failure to properly maintain Minutes Books under Section 118 led to adjudication by ROC. The company and its directors were fined ...
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The Ministry of Corporate Affairs (MCA) approved the Secretarial Standards issued by ICSI on Board and General meetings vide circular dated 10th April, 2015, which has been notified in the official gazette on 23rd April, 2015 and are applicable w.e.f. 1st July, 2015.
The Ministry of Corporate Affairs conferred its approval to Secretarial Standard-1 (relating to Board Meeting) and Secretarial Standard-2 (relating to General Meeting) issued by the Institute of Company Secretaries of India (ICSI). No other country of the world except India has yet adopted the Secretarial Standards (SS). The Board of Directors play an imperative role in the functioning, governing, progression of an organization.
The fundamental principles with respect to Board Meetings are laid down in the Act. SS-1 facilitates compliance with these principles by endeavouring to provide further clarity where there is ambiguity and establishing benchmark standards to harmonise prevalent diverse practices. For the benefit of companies, SS-1 provides necessary flexibility in many cases viz. with respect to […]
The fundamental principles with respect to General Meetings are laid down in the Act. SS-2 facilitates compliance with these principles by endeavouring to provide further clarity where there is ambiguity or establishing benchmark standards to harmonise prevalent diverse practices. Complying with SS-2 ensures robust procedures and systems which protect the interests of the company and […]
SECRETARIAL STANDARD -1 [Meetings of Board of Directors]:- This Secretarial Standard is applicable on all the Companies except One Person Company. Besides, meeting of the Board of Directors, the standard is also applicable on meeting of the Committee(s) of the Board unless otherwise stated by any other applicable guidelines, rules and regulations.
The Draft of the Guidance Note on General Meetings (SS-2) proposed to be released is appended below for your valuable comments/suggestions, before release. In case, you feel any issue is not covered and is required to be added, you may send your comments/suggestions thereon.
CL&G:SSB:2015 Dated- 29th October 2015 Dear Professional Colleagues, As you are aware, the Secretarial Standards on Meetings of the Board of Directors (SS-1) and Secretarial Standards on General Meetings (SS-2) issued by the Institute of Company Secretaries of India (ICSI) are applicable to the companies w.e.f. 1st July 2015. SS-1 and SS-2 are a codified […]
CS S. Dhanapal Section 118 of the Companies Act, 2013 which contains provisions relating to minutes of Board, General and other meetings and resolutions passed by postal ballot, contains in sub-section 10 that ‘Every company shall observe secretarial standards with respect to general and Board meetings specified by the Institute of Company Secretaries of India […]
Secretarial Standard- 1 on Meetings of the Board of Directors prescribes a set of principles for convening and conducting Meetings of the Board of Directors and matters related thereto. This Standard is applicable to the Meetings of Board of Directors of all companies incorporated under the Act except One Person Company (OPC) in which there is only one Director on its Board.
In this article I am going to discuss about the Agenda of Board Meeting required to be held for following purposes: Like: Approval of Directors’ Report/ Annual Account and issue of Notice of AGM. As we know that secretarial Standard on Board Meeting has been applicable from 1st July, 2015. On or after 1st July, 2015 all the Board Meeting will be held as per the SS-1 and Documentation should be as per SS-1.
