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. As the number of students taking up the Company Secretaryship course grew, the Government promoted on 4th October, 1968, Institute of Company Secretaries of India under Section 25 of the Companies Act, 1956 for taking over from the Government the conduct of Company Secretaryship examination. The Institute of Company Secretaries of India (ICSI) has since been converted into a statutory body w.e.f. 1.1.1981 under the Company Secretaries Act, 1980. The Institute of Company Secretaries of India(ICSI) has on its rolls 32,803 members including 6,670 members holding certificate of the practice. The number of current students is over 3,98,000.
The Institute of company Secretaries of India (ICSI) has its headquarters at New Delhi and four regional offices at New Delhi, Chennai, Kolkata and Mumbai. The Institute has four Regional Councils and under their jurisdiction 66 Chapters as provided in the link below:
ICSI Organisation Structure
Membership of The Institute of Company Secretaries of India(ICSI) has been recognized for appointment to various superior posts and services under the Central Government.
The affairs of the Institute of Company Secretaries of India (ICSI) are managed by a Council consisting of fifteen elected members and five nominees of the Central Government. The Companies Act, 2013 confers a special status to Company Secretaries as the Key Managerial Personnel along with Managing Director, Chief Executive Officer, Manager, whole-time director(s) and Chief Financial Officer (CFO).
Pursuant to section 203 of the Companies Act, 2013, every company belonging to the prescribed class of companies shall have the whole time Key Managerial Personnel (Company Secretary is one of them).
As per rule 8 of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014, every listed company and every other public company having a paid-up share capital of 10 crore rupees or more shall have whole-time key managerial personnel.
As per rule 8A, a company other than a company covered under rule 8 which has a paid up share capital of 5 crore rupees or more shall have a whole-time company secretary.
The major contribution of Company Secretary (CS) is in corporate sector. Company Secretary (CS) is an important professional aiding the efficient management of the corporate sector. Company Secretary (CS) is designated as an officer under the Companies Act. Company Secretary (CS) has to interact, coordinate, integrate and cooperate with various other functional heads in a company. A member of the Institute of Company Secretaries of India(ICSI) may also practise independently as a professional after obtaining a certificate of practice as provided in the Company Secretaries Act,1980.