Accounting Forte

25/06/2020

21/03/2020

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28/09/2017

Bharti Airtel chairman Sunil Bharti Mittal urged states as well as municipalities to recognise the power of digital India and enable easy on-ground implementation of policies like the right of way.

27/09/2017

By Ajay Chhibber India’s banking crisis has been on a slow burn for the last three years. But just like with a slowfuse Diwali firecracker, the blast will inevitably come. Unfortunately, the more the delay,...

16/09/2017

HIGHLIGHTS OF REVISED SECRETARIAL STANDARD-1

1. Exemption to Section-8 Company from complying with SS-1.
2. Sending of Notices, Agenda and supplementary notes by way
of courier is now restricted. Therefore, Companies cannot
send the notice of meeting by courier.
3. Where a Director specifies a particular means of delivery of
Notice, the Notice shall be given to him by such means.
However, in case of a Meeting conducted at a shorter Notice,
the company may choose an expedient mode of sending
Notice.
4. Provisions regarding period of maintenance of proof of
sending notice is introduced. Proof of sending Notice and its
delivery shall be maintained by the company for such period
as decided by the Board, which shall not be less than three
years from the date of the Meeting
5. Earlier Directors were allowed to participate through
Electronic Mode on the prescribed restricted items, with the
express permission of the Chairman. This has been
disallowed under the revised SS.
6. SS shall be applicable only on the committee of the Board
mandatory to be constituted under the Act.
7. Board Meeting and any adjournment thereof can now be held
on a National Holiday except where it is adjourned because of
want of quorum.
8. No mandatory need of approval of Independent Director” is
required if any additional item which was not mentioned in the
agenda is taken up at the meeting.
9. The Company shall hold at least four Meetings of its Board in
each Calendar Year with a maximum interval of one hundred
and twenty days between any two consecutive Meetings. The
requirement of meeting in each quarter has been done away
with.
10. Authentication of attendance register by a company
secretary or where there is no company secretary, by the
Chairman is no longer a requirement.
11. A statement in the Board Report regarding the compliance
with the applicable Secretarial Standards is required now.
12. Director can now inspect attendance register (for the
meetings during his directorship) even after he ceases to be
director of company.
13. Only unsigned documents placed before the Board, in
respect of items requiring decision of the Board, need to be
so initialed. Thus, certain papers placed for noting and/or
papers which have been already signed by the Chairman, 14. Director or any other official of the company need not be
initialed again.