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CS Professional · Compliance Management, Audit and Due Diligence · Secretarial Audit

Kaveri Foods Ltd's Board proposes to hold a meeting at short notice and skip the minutes-signing procedure laid down by the ICSI. The company secretary, Arjun, points out that the applicable secretarial standards must be followed. Under Section 205, what does 'secretarial standards' mean?

Under Section 205, secretarial standards are the standards issued by the Institute of Company Secretaries of India and approved by the Central Government. The company secretary's function is to ensure that the company complies with them.

  1. AStandards issued by the Institute of Company Secretaries of India and approved by the Central GovernmentCorrect
  2. BStandards framed by the company's Board and approved by its shareholders
  3. CStandards issued by the Securities and Exchange Board of India for listed companies only
  4. DStandards issued by the Institute of Chartered Accountants of India and approved by the Central Government

Explanation

The Explanation to Section 205 defines secretarial standards as those issued by the ICSI, constituted under section 3 of the Company Secretaries Act, 1980, and approved by the Central Government. Standards set by the Board or SEBI alone, or by ICAI, do not fit this definition.

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