Final Guidance Note On Meeting Of the Board of Directors
The “Secretarial Standard on Meetings of the Board of Directors” (SS-1), formulated by the Secretarial Standards Board of the Institute of Company Secretaries of India (ICSI) and issued by the Council of the ICSI, has been approved by the Central Government. Adherence to SS-1 is mandatory in terms of sub–section (10) of Section 118 of the Companies Act, 2013 (Act). SS-1 applies to Meetings of the Board of Directors and its Committees, in respect of which Notices are issued on or after 1st July, 2015. SS-1 prescribes a set of principles for convening and conducting Meetings of the Board of Directors and matters related thereto. This Guidance Note sets out the explanations, procedures and practical aspects in respect of the provisions contained in SS-1 to facilitate compliance thereof by the stakeholders.
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