Key amendments in Secretarial Standard 1 (SS-1) on Meetings of the Board of Directors and Secretarial Standard 2 (SS-2) on General Meetings issued by ICSI and approved by MCA, governing electronic board meetings, quorum verification, and digital record retention.
Step-by-step advisory measures prescribed by ASGR and CO for immediate adherence:
Section 118(10) of the Companies Act, 2013 explicitly prescribes that every company shall observe secretarial standards with respect to general and board meetings specified by the Institute of Company Secretaries of India (ICSI) and approved by the Central Government.
Non-observance of SS-1 and SS-2 exposes companies to penal liability under Section 118(11) of ₹25,000 for the company and ₹5,000 for every officer in default.
The revised standards outline detailed safeguards for hybrid board meetings, requiring the Chairman and Company Secretary to ensure non-interrupted connectivity, roll-call verification of each director, and confirmation that no unauthorized person has access to the confidential proceedings.
Senior Partner & Co-Founder • B. Com, FCA, CS Inter, FAFD (ICAI)
ASGR and CO, Chartered Accountants (Peer Review Certified: #018Xxx)
Statutory Disclaimer: This publication is compiled by ASGR and CO solely for general informational and educational purposes to assist corporate clients and peers in understanding statutory notifications. It does not constitute legal, tax, or formal secretarial advice. Before acting upon any provisions, specific professional counsel should be sought.
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