The following is the text of the Secretarial Standard-1 (SS-1) on “Meetings of the Board of Directors”, issued by the Council of the Institute of Company Secretaries of India and approved by the Central Government. Adherence by a company to this Secretarial Standard is mandatory, as per the provisions of the Companies Act, 2013.
1 (SS-1)? Secretarial Standards are issued by the Institute of Company Secretaries of India (ICSI). SS-1 provides a framework for conducting Board Meetings in a structured manner. Ensures uniformity, transparency, and accountability in corporate decision-making. Applicable to all companies (except One Person Companies.
ICSI Secretarial Standards and Revisions ensure uniform, transparent, and legally compliant procedures for conducting Board and General Meetings in India. The revised SS 1 and SS 2, effective from , introduce digital flexibility, simplified compliance for start-ups, and stronger governance frameworks.
Secretarial Standards (SS-1 & SS-2) play a crucial role in guiding companies in India on the proper conduct of board and general meetings. These standards ensure transparency and accountability, while also ensuring compliance with the Companies Act and other legal requirements.
SS - 1 SECRETARIAL STANDARD ON MEETINGS OF THE BOARD OF DIRECTORS
Secretarial Standards (SS)-1 serve as a foundational framework that companies must follow when organizing and conducting board meetings. These standards play a pivotal role in promoting good governance practices, enhancing board efficiency, and fostering confidence among investors, shareholders, and other stakeholders.
Learn the major changes in the Revised Secretarial Standards (SS-1) for Board Meetings effective from 1 April 2024. Understand compliance rules, director participation, quorum, notices and governance requirements in simple language.
Board Meeting (Secretarial Standard-1) In February 2024, the ICSI issued revised drafts of SS-1 and SS-2 which will come into effect from 1 April 2024. The Secretarial Standard on Meetings of the Board of Directors (SS-1) issued by the ICSI under Section 118 (10) of the Companies Act, 2013 was first made applicable w.e.f. 1st July, 2015.