List out the check points to be observed by a Company Secretary while conducting the Secretarial Audit with regard to Quorum of the meetings as per Secretarial Standard-1.

CS Professional · Secretarial Audit, Compliance Management and Due Diligence · PYQS · December 2019
List out the check points to be observed by a Company Secretary while conducting the Secretarial Audit with regard to Quorum of the meetings as per Secretarial Standard-1.

Answer & Explanation:

CHECKLIST FOR THE QUORUM TO BE ENSURED BY COMPANY SECRETARY AS PER SECRETARIAL STANDARD-1 This standard relates to meetings of Board of Directors, as per Para 3 of Secretarial Standard-1, the check points for the quorum are as under: The Quorum for a Meeting of the Board shall be one-third of the total strength of the Board, or two Directors, whichever is higher. Para 3.1 states that the requisite quorum shall be present throughout the meeting. Quorum shall be present not only at the time of commencement of the Meeting but also while transacting business. Para 3.2 states that a Director shall neither be reckoned for Quorum nor shall be entitled to participate in respect of an item of business in which he is interested. However, in case of a private company, a Director shall be entitled to participate in respect of such item after disclosure of his interest. Para 3.3 states that directors participating through Electronic Mode in a Meeting shall be counted for the purpose of Quorum, unless they are to be excluded for any items of business under the provisions of the Companies Act, 2013 or any other law. Para 3.4 Meeting of the Board Para 3.4.1 The quorum for a meeting of the board shall be one third of the total strength of the Board, or Two directors, whichever is higher. Para 3.5 Meeting of the Committee Unless otherwise stipulated in the Act or the Articles or under any other law, the quorum for meeting of any Committee constituted by the board shall be as specified by the Board. If no such Quorum is specified, the presence of all the members of ant such committee is necessary to form the Quorum.

Topics: Secretarial Audit

Open in Interactive Practice Hub · Full Practice Hub · Chapter Weightage · More in this subject

Related Questions in this Topic