Secretarial Standards, Indeed, specific corporations in India are obligate to adhere to secretarial standard, ensuring their compliance with regulatory requirements. The Institute of Company Secretaries of India (ICSI) has issued Secretarial Standard that are applicable to companies based on their size, turnover, and other criteria. Secretarial Standards provide guidelines and rules for the conduct of board meetings, general meetings, maintenance of books and records, and other secretarial practices.
As of September 2021, Secretarial issued by ICSI are mandatory for the following types of companies:
Listed Companies:
Secretarial Standard are mandatory for all companies listed on recognized stock exchanges in India.
Public Companies:
Secretarial Standard are mandatory for public companies with a paid-up share capital of Rs. 10 crore or more.
Other Companies:
Secretarial Standard are voluntary for private companies and public companies with a paid-up share capital of less than Rs. 10 crores. However, if such companies choose to comply with the Secretarial Standards, they must follow them in their entirety.
It’s important to note that the applicability of they may change over time, and new regulations or amendments may be introduce. It’s advisable to refer to the latest guidelines and notifications issue by ICSI or consult a qualified company secretary for accurate and updated information regarding the applicability of Secretarial Standard.
To visit: https://www.incometax.gov.in
