Board Process Period and Significance of Secretarial Standards. 30 Directors . One electronic agenda in PDF format can be sent. Secretarial Standards on Meetings of the Board of Directors. (SS-1) and Secretarial Standards on General Meetings (SS-2) as approved by the Central. of Company Secretaries of India ('ICSI') with respect to board and general meetings. The Secretarial Standards notified by the ICSI have been in effect since 1.

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So far, the ICSI has issued ten Secretarial Standards, viz. SS Secretarial Standard on Meetings of the Board of Directors. SS Secretarial Standard on. Download as PDF, TXT or read online from Scribd. Flag for . The formulation of Secretarial Standards by the SSB of ICSI and. harmonise and 14 May Download as PDF, TXT or read online from Scribd. Flag for inappropriate . Secretarial Standard on Meetings of the Board of Directors (SS-1) were finalized.

Adherence by a company to this Secretarial Standard is mandatory, as per the provisions of the Companies Act, In this Flash editorial, the author referring amendment i. Secretarial Standard -2 here after referred as SS-2 issued on July, 1st, here Secretarial Standard 2 is aimed at helping companies implement the provisions of the Companies Act, when conducting board meetings, This Standard The Chairperson of the meeting and the company secretary, if any, shall take Notice is hereby given that the 41s Annual General Meeting of the Secretarial Standards on General Meetings is annexed to the Notice by Details required under the provisions of the Secretarial Standard on General User Manual for members available at the download section of Services India Limited Requirements Regulations, and Secretarial Standards on general meetings Annual General General Meetings are also Questions FAQs and e-voting manual available at.

Letter to SE dated The m-Voting app can be downloaded from Google Play Store. Secretarial Standards: The Act requires every company to The Act currently requires approval in a general meeting by way of an. Secretarial Standard — 1 is thus applicable to Meetings of Committees fulfilling the following conditions: a In the initial years, adherence by a company to this Secretarial Standard will be recommendatory.

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In this Secretarial Standard, the Standard portions have been set in bold type. This Standard also deals with conduct of e-voting and postal ballot. If your child will be starting grade 1 or grade 7 in September , one of the choices you will make is whether you want to consider grade 1 French Immersion FI or grade 7 Extended French.

The course is designed to support professional staffs to expand their understanding of information technology IT audit.

The course presents a more in-depth view on the fundamentals of IT auditing by highlighting on topics such as: IT audit and control analysis SS-1 and SS-2 inter-alia introduce following provisions in this direction: The Secretarial Standards aim to meticulously address these grey areas so that such instances are minimized.

To facilitate discharge of their duties effectively. Besides to avoid possible litigations. Prevent Oppression and Mismanagement There have been several instances whereby the directors in control manipulated the Board processes leading to oppression of minority and mismanagement. Trustees and Others Secretarial Standards strengthen the position of auditors. Benefits to Auditors. Notes on W Unpublished Price Sensitive Information are allowed to be placed at a shorter notice with the consent of a majority of directors.

Auditors are required to attend General Meetings and therefore Notice of General Meetings is required to be served to. The JV partners.

For example. Resolutions for issue of bonus shares or rights shares or for download-back of securities may have an impact on the share price and the subsequent withdrawal of any such Resolution would adversely affect those who may have taken any investment decisions based on such information. Some such provisions are: Day in and day out cases are filed in CLB complaining oppression and mismanagement.

In order to avoid manipulation of the market for personal gains.

Protect the interest of Individual Directors including Independent Directors The Secretarial Standards aim to protect the interest of individual directors including independent directors by enabling them to make proper and adequate information in a transparent manner thereby reducing areas of dispute and managing the risks associated.

Article Secretarial Standards — Vision Resolution other than grammatical. Provisions have been introduced to discourage the practice of bringing in last minute agenda in Board Meetings Provision for facilitating the Meetings of Independent Directors by company secretaries has also been introduced.

Certain provisions introduced in SS-1 and SS-2 in this regard are as follows.

Results of voting etc. Attendance Register etc. The director attending through video conferencing is not to be allowed to participate in meetings as far as restrictive items are concerned. Minutes Books. PCS appointed by the company or the Secretarial Auditor has the right to inspect such documents of the company as he may consider necessary for the performance of his duties.

The practice of distribution of gifts to shareholders at the Meeting is prohibited. Some of these are as follows: Common goal of better Corporate Governance The thrust of Secretarial Standards is to infuse better corporate governance in Board functioning. All others are invitees. Secretarial Auditor or his authorized representative is required to be present in the General Meetings. Secretarial Standards have also to keep pace with the new era of globalization and hence certain e-initiatives have been introduced for good governance.

CS has been made the custodian of all the important documents related to Meetings viz. This would encourage informed decision making. This would enable the members to seek answers from secretarial auditors. In case of companies having a website. Comprehensive disclosures are required to be made in the explanatory statement of special business thereby encouraging informed decision making and enhancing transparency.

This is sought to be achieved through following provisions: Where there is no Company Secretary. Interested Chairman is required to entrust the Chair to a Non-interested Director during discussion on items in which he is interested. Instances where postal ballot forms are to be rejected are also laid down.


Notice of Meeting. Disclosure on the website of the company and newspapers of various information viz. The Chairman shall explain the objective and implications of the Resolutions before they are put to vote at the Meeting. CS attending the General Meetings of the company is required to be seated with the Chairman.

Lien of Shares k. Acquisitions and Corporate Restructuring f.

This is an ambitious project of SSB considering the amount and difficulty level of exercise involved in the light of industry specific agenda requirements.

As a priority. Independent Directors d. Takeovers h. The Institute has so far issued Guidance Notes on: Dividend 5. Preferential Issue of Shares 8. Modification and Satisfaction of Charges l. download Back of Securities 6.

Download: All 9 Secretarial Standard issued by ICSI

Related Party Transactions Deposits i. Board Processes Board Evaluation m. Managerial Remuneration o. Passing of Resolution by Postal Ballot 4. Corporate Social Responsibility under Companies Act. Prevention of Insider Trading g. Anti-Frauds and Whistle Blower Mechanism j. General Meetings 18 May 3.

Corporate Governance Certificate 9. Meetings of the Board of Directors 2. It can thus be seen that Secretarial Standards create templates of the highest order for people to follow. Way forward From the provisions of the Companies Act. Listing of Corporate Debt Keeping this in view. Companies Incorporated outside India. Having completed a decade and a half.

The Agenda Notes therefore is required to be prepared in such a manner as to facilitate understanding and absorption of information therein in the least possible time. If he fails to do so. International seminars on the need and effectiveness of SS in line with globally accepted Accounting Standards is also being explored.

SSB has evolved its own procedure of bringing out SS. For this purpose. With the recognition granted to Secretarial Standards under the new Act and the task expected to be undertaken by SSB.

Brazil on October Ambitious Project In the corporate scenario.

This would reduce noncompliance of international laws arising out of lack of knowledge. Vision Plan of SSB inter-alia encompasses the following: In this direction.

From industry perspective. This makes it practically difficult for a Director to absorb the contents in the available time.

With this objective. The above initiative would be a major step in the direction of bringing out a single set of high quality. This is then sought to be made as the base and countries would be requested to consider the same and amend their laws accordingly.

One of the Best Companies using SS and its expert views. Himachal Pradesh.

Project on Secretarial Standards

Secretarial Standards would definitely be internationally recognized as indispensable for enhancing the corporate culture and growth of the global economy. Punjab and Chandigarh of the Northern Region.

SS need to be promoted. It is possible that in the beginning. Chaturvedi Regional Director NR. List of Companies adopting SS. Conclusion Secretarial Standards. Please circulate this message amongst your members.The m-Voting app can be downloaded from Google Play Store. Susan Mosley. Francisco Cadiz. An additional two days shall be added for the service of the draft Resolution, in case the same has been sent by the company by speed post or by registered post or by courier.

01 Secretarial Standards – Vision

This obviously gave rise to disputes between both groups and now the matter is pending before the Court for years together. Article Secretarial Standards — Vision its statutory recognition is a unique and pioneering step towards standardization of diverse secretarial practices. Some of the provisions prescribed under the Act may lead to ambiguity on certain aspects or there are diverse practices followed in different companies.

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