Professional Documents
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sankara@cacsindia.com
66
May 2015
Article
Secretarial Standard on General Meetings would enhance investors confidence and strengthen their protection
Defining the above said terms which are otherwise not defined
in the Act, would go a long way to extend support to the
professionals and management.
67
May 2015
Article
Secretarial Standard on General Meetings would enhance investors confidence and strengthen their protection
The Standard now has addressed all such issues which will go
a long way for the benefit of investors and other stakeholders.
68
May 2015
Article
Secretarial Standard on General Meetings would enhance investors confidence and strengthen their protection
Act and Rules but also on the Secretarial Standards which have
The objective of the Act is to dispense
addressed for divergent practices and given solution for several
unaddressed issues.
with the Governments interference and
extended shareholders democracy to take
Conclusion
a call by themselves in protecting their
The contribution made by several members of SSB since its
interest. In this direction, the standard
formation and the efforts of ICSI all these years in setting standards
for divergent practices in the corporate sector in complying with
addresses several issues for proper
the provisions of the Act, its Rules and Regulations have been well
recognised by the Government. It has been notified at the right time
compliance and as a good governance it
with a time gap of at least two months to enable the professionals
will not only protect the investors interest and management to study and understand all the clauses of both
the Standards so that they same may be implemented in letter
but also would extend to take care of the
and spirit. Interestingly, many companies are already lined up for
interest of every stakeholder in a company. convening the annual general meeting in the early part of the second
on several counts. One such count is that a page is left blank which
gives room for suspicion. SS-2 considered such a situation and
has provide that in the event of any page or part thereof in the
minutes book is left blank, it shall be scored out and initialled by the
Chairman who signs the minutes. The issue was unaddressed
in the Act, and now a solution is provided in such a situation.
Investors Protection
Some of the salient features of SS-2 have been discussed above.
Several issues while give clarity for the management and the
company secretary to adhere for proper compliance, other issues
take care of the investors interest. The objective of the Act is
to dispense with the Governments interference and extended
shareholders democracy to take a call by themselves in protecting
their interest. In this direction, the standard addresses several issues
for proper compliance and as a good governance it will not only
protect the investors interest but also would extend to take care of
the interest of every stakeholder in a company.
A COMPANY
SECRETARY
E-mail- hrd@infomerics.com
69
May 2015