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CS Professional · Environmental, Social and Governance (ESG) - Principles and Practice · Board Processes through Secretarial Standards

Under section 205 of the Companies Act, 2013, whose secretarial standards must a company comply with, as the Explanation to that section defines the term?

Secretarial standards under section 205 are those issued by the Institute of Company Secretaries of India and approved by the Central Government. Standards from SEBI, ICAI or the company's own Board do not qualify under the Explanation to the section.

  1. AStandards issued by the ICSI and approved by the Central GovernmentCorrect
  2. BStandards issued by the SEBI and approved by the stock exchanges
  3. CStandards issued by the ICAI and approved by the NFRA
  4. DStandards framed by the company's own Board and approved by shareholders

Explanation

The Explanation to section 205 defines secretarial standards as those issued by the Institute of Company Secretaries of India and approved by the Central Government. SEBI, ICAI and internal Board standards do not meet this definition.

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