TOPIC 40: QUICK REFERENCE TO “Revised Secretarial Standard -1 (Few Aspect only)”

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Quick Reference to "Revised Secretarial Standard -1 " (Few Aspect only) :-
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Points:-
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1. Revised SS-1 is not applicable to OapC in which there is only 1 director and Section 8 Companies.
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2. A Board meeting can be convened on any day ( Including National Holiday ).
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3. Notice of Board meeting issued to directors can be through hand or speed post or facsimile or registered post or email or other electronic means but exclusive "Courier ".
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4. The Proof of Notice and it's delivery shall be kept by company for minimum of 3 years from the date of meeting.
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5. The Company shall hold atleast 4 meetings of its board in each calendar year but maximum gap between two meeting cannot be more than 120 days.
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6. It is not mandatory that Board shall meet at least once in every calendar quarter.
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7. A director is entitled to participate in respect to such item after disclosure of his interest in case of private company only.
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8. The attendance register shall be bound at least in every 3 years.
It should be preserved fir 8 F.Y. from the date of last entry made .
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9. It is not necessary to mention time of Conclusion of meeting in the minutes.
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10. The Board Report shall include Statement on Various Compliances applicable to secretarial standards.
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REGARDS
ACA SOURAV BAGARIA