ICICI

Mandatory compliance of secretarial standard under companies


K Vinoth (Company Secretary)     01 April 2015

K Vinoth
Company Secretary 
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MANDATORY COMPLIANCE OF SECRETARIAL STANDARD UNDER COMPANIES ACT, 2013

                                                                    By 

                                   CS K VINOTH AND CS D HEM SENTHIL RAJ

 

As per the provisions of Section 118 (10) of Companies Act, 2013every Company shall observe ‘Secretarial Standards’(SS) with respect to General and Board meetings specified by the Institute of Company Secretaries of India constituted under Section 3 of the Company Secretaries Act, 1980.

APPLICABILITY OF SECTION:

All Companies incorporated under the Companies Act, 2013 or under any previous Company law irrespective of the criteria of capital, turnover, profit etc.

PERSON RESPONSIBLE TO COMPLY WITH SECRETARIAL STANDARDS:

Company Secretary or Company Secretary as Key Managerial Personnel:

As per Section 205 (1) (b) of Companies Act, 2013 it shall be the responsibility/function of Company Secretary to ensure that the company complies with the applicable Secretarial Standards (SS) in case of Company where appointment of Company Secretary is mandatory or in case of company where Company Secretary is available.

Person Authorised By Board:

In case of Companies for which Section 203 of Companies Act, 2013 and The Companies (Appointment and Remuneration) Rules, 2014 is not applicable, in such a case, the Board of Directors of the Company shall authorize the person who shall be responsible to comply with the applicable Secretarial Standards.

LIST OF SECRETARIAL STANDARDS ISSUED BY THE INSTITUTE OF COMPANY SECRETARIES OF INDIA:

SECRETARIAL STANDARD

PARTICULARS

SS-1

Secretarial Standard on Meetings of the Board of Directors

SS-2

Secretarial Standard on General Meetings

SS-3

 Secretarial Standard on Dividend

SS-4

Secretarial Standard on Registers and Records

SS-5

 Secretarial Standard on Minutes

SS-6

Secretarial Standard on Transmission of Shares and Debentures

SS-7

Secretarial Standards on Passing Resolutions By Circulation

SS-8

Secretarial Standards on Affixing of Common Seal

SS-9

Secretarial Standards on Forfeiture of Shares

  SS-10

Secretarial Standards on Board's Report

 

Blog : http://csthenewera.blogspot.in/

avater

P C Agrawal (Vice President (Corporate))     01 April 2015

P C Agrawal
Vice President (Corporate) 
 822 likes  8060 points

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Central Govt has not yet approved any secretarial standard as required under Section 118(10) and hence they are not mandatory for any company as on date.

 

 


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