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The Institute of Company Secretaries of India(ICSI) is constituted under an Act of Parliament i.e. the Company Secretaries Act, 1980 (Act No. 56 of 1980). ICSI is the only recognized professional body in India to develop and regulate the profession of Company Secretaries in India.
The Institute of Company Secretaries of India awards the certificate of bestowing the designation of Company Secretary(CS) to a candidate qualifying for the membership of the Institute. It was in 1960 that the Company Law Board started a course in Company Secretaryship leading to the award of Government Diploma in Company Secretaryship.
A man of stupendous vision, professional vigour and colossal discipline having an unyielding belief in prosperity of revered profession of Company Secretaries.
CS (Dr.) Shyam Agrawal of the Institute of Company Secretaries of India (ICSI) has taken over as the zenithal torch-bearer of Corporate Governance profession in India for the year 2017 on joining the Institute as 'the President' from 19th January 2017.
I am delighted to know that the membership of the Institute of Company Secretaries of India has reached the figure of 50,000. The fact that such a large number of very enterprising and bright young people are becoming Company Secretaries also indicates the width of opportunities that is available to them in the Profession. As larger and larger corporatisation of Indian Business is taking place, it is absolutely necessary that they are run on professional Lines. Recently the taxation rebate that we have given to smaller companies will also encourage a lot of sole proprietorship and private partnership firms to convert themselves into companies. So, I for see a future whether number of the companies is going to increase and obviously the need for Company Secretaries is going to increase, because, they are professionally trained and qualified as to how to run these companies and to complete all the legal formalities in the establishment and the counselling of the Companies. The fact that the Institute has come of age with such a large membership is a great occasion. I wish all its members and the Institute a Big Success.
A seamless transition towards a unified Insolvency and Bankruptcy Code, 2016 (IBC) holds potential to significantly improve the “Ease of Doing Business” in India. A key facet of this code is the vesting of the entire management and operations of a company undergoing insolvency proceedings to an Insolvency Professional. The role of an Insolvency Professional is pivotal in ensuring fair and speedy resolution of the insolvency proceedings. Insolvency Professionals will have to take up the challenging role of addressing the varied demands of this ecosystem within the specified timelines. The endeavour of ICSI in bringing a special issue dedicated to Insolvency and Bankruptcy Code, 2016 is commendable. I extended my best wishes to ICSI this endeavour.
The Institute of Company Secretaries of India has attained a remarkable mark by reaching the milestone of 50,000 members. On this occasion, I congratulate ICSI, President CS (Dr.) Shyam Agrawal, and all ICSI members.
At the same time, I have an expectation from the Institute and its members that they should play their role as Corporate Governance professionals with full dedication and responsibility while act as ‘Conscience Keepers’ of the companies and watch over those black sheeps in the corporate sector who play foul by taking advantage of some existing legal loopholes. For ensuring setting up Good Governance practices, I think, ICSI members have a monumental role to play while acting as ‘advisor’ to the corporate sector.
I know ICSI will keep on guiding the way of its professionals to establish best governance practices in Indian Corporate Sector and contribute to a great extent to the objective of Government of India for making India a world leader in Governance.
On the occasion of the Institute of Company Secretaries of India enrolling 50,000 members, I would like to congratulate the Institute for its continued endeavours for the Indian Corporate Sector. The challenges faced by the Corporate Sector can be resolved by adhering to the best practices in Corporate Governance wherein Company Secretaries have an important role to play. The Institute must, therefore, strive to empower its members to achieve greater professional heights by enhancing the quality standards and reaffirming commitment to the highest standards of professional excellence & transparency. I wish the Institute the very best in all endeavours in this direction.
The only way modern India can alleviate the problem of poverty is through entrepreneurship and creation of jobs with decent and fair income for the young men and women of India. This is the core principle of compassionate capitalism. The Prime Minister’s gospel of “Sab ka Saath, Sab Ka Vikaas” should become the watch word for every corporate leader in India. To combat the ills of modern, laissez-faire capitalism, these leaders have to show self-restraint by demonstrating fairness, transparency and accountability in seeking undeserved and unjustifiable compensation and perquisites for themselves. Else, the days of capitalism will end here and India will plunge once again into an area of despair and unhappiness for the vast majority of Indians. I hope the company secretaries of India will become the ombudsmen and ombudswomen in preventing this catastrophe.
The role of quality education is paramount in building of any Nation. In my view, education is not just about employment but also about instilling values, character building and respecting professors and teachers. Keeping this in mind, the five pillars of our new education policy will be ‘accessibility, equity, quality, affordability and accountability’.... We are sure that we are able to realize Vision 2022 and contribute towards the ‘New India’, the India that will make Gandhiji, Sardar Patel and Babasaheb Ambedkar proud as said by Hon’ble Prime Minister. I wish that the Company Secretaries will play the best part in the making of New India by acting as Conscience Keeper of the Corporate sector by utilizing the best education and knowledge which ICSI is providing to them.