Key features of SS-1 are
- The agenda setting out the business to be transacted at the meeting and notes on the agenda shall be made available to directors at least seven days before of the date of the meeting (unless articles of the company provide for a longer period).
- The notice of a meeting shall be given even if the meeting is held on a predetermined date or interval. ).
- Quorum shall be present not only at the time of commencement of meeting but also while transacting business. ).
- The draft minutes shall be circulated to all the members of the board or committees for their comments within 15 days from date of conclusion of the meeting of the board or the committee. ).
Key features of SS-2 are:
- If any director is unable to attend meeting, chairman shall explain such absence of the director in the meeting, to the members.
- Chairman should explain the objective and implication of resolution before they are put to vote at meetings.
- Extracts of meeting shall be given only after minutes have been duly signed.
- Quorum has to be present throughout the meeting and not only at the commencement of meeting.
- It lists out various requirements for filing and maintaining the minutes book.
- Provisions relating to the notice of the general meeting have been prescribed.
- Comprehensively lists out scenarios where postal ballot form shall be considered invalid.
- Prohibits practice of distribution of gifts to members at meeting.
- If a company fails to comply with these provisions then the company would be liable to pay penalties as stipulated by these standards.
CSGAURAV +919990694230
[email protected]
https://gauravsharmaassociates.wordpress.com https://femaindiaservices.wordpress.com https://www.facebook.com/gauravdelhiravpage
Subscribe to CS GAURAV SHARMA by Email
