Shri Datla Hanumanta Raju, PRESIDENT of The Institute of Company Secretaries of
India (ICSI) while addressing a PRESS CONFERENCE today, stated that “The
profession of Company Secretaries, during its existence for more than four decades
has come a long way from being conscience keepers to compliance officers and now
governance professionals. Having earned the trust and confidence of the Corporate
Sector, Government and the regulators as watchdog for governance architecture,
Company Secretaries are now expected to assume a leading role in guiding
corporates as agents of change.”
Shri Raju added that, “the unlearning and relearning process is an inescapable
consequence of new economic realities for some, while it is a lesson in survival for others
and the Company Secretaries now need to graduate to a leadership position taking on new
roles, values and a different approach. In this context, as increasing number of companies
are facing adaptative challenges, the Company Secretaries are expected to bring in change
and setting the direction of that change”.
To analyse deeply the challenges and opportunities in line with this thought process,
the Institute of Company Secretaries of India (ICSI) is organizing its 37th National
Convention of Company Secretaries on November 5-6-7, 2009 on the theme “Lead
Corporate India – Role of Company Secretary” at Marriott Hotel and Convention
Centre, Hyderabad .
The Convention seeks to make an indepth analysis of the theme by deliberating it in
four Technical sessions:
Managing Growth in Turbulent Times .
Integrity, Ethics and Governance
Best Practices in Financial /Non-Financial Disclosures
Lead The Market under Competition Regime
Shri Salman Khurshid , Hon’ble Minister of State (Independent charge) for Corporate
Affairs and Minority Affairs , has very kindly consented to INAUGURATE the National
Convention on November 05, 2009. Shri Rana Som CMD, NMDC Ltd., Hyderabad will
deliver the Keynote Address.
On November 6 , 2009 a special session on “International Perspective” will be
held wherein representatives of Company Secretaries Institutes from other countries will
On November 7, 2009 a special session on Companies Bill 2009 will be addressed by
Mrs.Renuka Kumar, Joint Secretary, Ministry of Corporate Affairs.
Shri Konijeti Rosaiah , Hon’ble Chief Minister of Andhra Pradesh has been requested
to deliver the VALEDICTORY Address.The Guest of Honour at the Valedictory session
will be Shri C Parthasarthy, Chairman & Managing Director, Karvy Consultants
About 1200 delegates including Company Secretaries, Managing Directors, CEOs,
Directors, Senior Executives and professionals from India and abroad are expected to
participate in the National Convention. The three-day Convention will be addressed
by Captains of trade and industry, eminent experts, academicians, senior civil
servants and professionals.
Initiatives taken by ICSI
According to President ICSI “Students being the future of the profession, our priority is to
ensure that students services are more effective and efficient. Institute makes all
endeavour to see that they are energized and made knowledgeable and appropriately
skilled, so that they are able to provide exacting solutions to corporates”. In this direction,
the Institute has already implemented new syllabus and now new training template is being
implemented. The Institute has also set up ICSI Students Education Fund Trust to provide
financial assistance to economically weaker students with good academic record, he
Web-based E-Learning – CS Online Course
With a view to spreading the reach of the CS Course into remote areas and smaller towns, the
Institute had launched web-based e-learning programme for the CS Foundation Programme. The
response from the students has been encouraging. The video based E-Learning Modules for
Executive Programme will be launched at the National Convention and we expect that more
students will register and make use of the e-learning facilities. The online CS Course includes:
Web based Training (WBT)
Video Based Training (VBT)
Live Virtual Classroom (LVC)
The student trend during the previous year has been very encouraging and the student
registration has substantially increased. Hence, the reach and spread of the Career Awareness
programmes would be expanded to attract more students into the professional fold.
Post Membership Qualification (PMQ) Course
Every profession is recognised and identified with the quality and capabilities of its members. It
has been our endeavour to intensify the efforts for capacity building of Company Secretaries in
new and emerging areas. In this direction, Shri Datla Hanumanta Raju, President ICSI
briefed about the new PMQ courses in Competition Law and Corporate Insolvency and
Restructuring. In addition, the focus would be on organising short term courses and
collaborative programmes to provide exposure to the members in diversified areas.
The Role of Company Secretaries in the Coming Years
President ICSI stated that when the present is proactive, positive and pleasant, the future
of the profession is bound to be glorious. At present the vibrations from the economic
meltdown are making the corporate world a bit shaky. These, though unwelcome, are the
inevitable consequences of global integration. For the CS profession the current scenario
provides ample opportunities for carrying forward the torch of good corporate governance
and promoting the CS professionals as integrated corporate managers.
The Companies Bill, 2009 equates Company Secretary with the CEO and CFO expecting
our profession to partner onerous responsibility in the corporate ladder. Corporate
restructuring, cross border insolvencies, mergers and amalgamations, international tax planning,
national integrated VAT system(GST), competition law and competition economics, arbitration
and dispute resolution, legal and knowledge process outsourcing, knowledge management,
indirect taxation and a host of other areas are emerging for Company Secretaries to excel both in
employment and in public practice.
Newer and unconventional areas like financial planning, investment banking, wealth
management, asset management, investment management, and private equity finance, apart
from the continuing importance of corporate governance both in profit making and not for profit
organizations will continue to attract and nurture Company Secretaries as professionals in
constant demand, he added.
Plans in Terms of Foreign Collaborations
Shri Datla Hanumanta Raju, President ICSI opined that collaboration is the key for success
in the new age. Networking, co-working and co-creation are the propellers of progress in
the knowledge era. The networks have not only to be cross-professional; they also have to be
cross-geographies and cross-cultures. Applying this concept, the Institute has been entering into
proactive MOUs that are well thought out as mutually beneficial ways to share resources, ideas,
capabilities and capacities, he added.
International Federation of Company Secretaries (IFCS)
The ICSI is a founder member of the International Federation of Company Secretaries.
Realizing ICSI’s important role in the global Company Secretaries profession, the Institute along
with the Institutes in Bangladesh, Kenya and Pakistan took the lead to constitute International
Federation of Company Secretaries with its Secretariat at the ICSI, New Delhi. Nepal Institute of
Company Secretaries has also joined IFCS, informed President, The ICSI.
This move will help Company Secretaries profession in different countries to come under
an umbrella to build the global brand “Company Secretary”. It will also help the
professionals working on various jurisdictions to pursue unitedly at the WTO and such
multi-lateral forums for getting recognition World wide. The Founder Institutes of IFCS are
working for mutual recognitions in each other’s countries for expanding the international
base for the services of the Company Secretaries. The effort pioneered by the Institute
seeks to raise the unified voice of Company Secretaries profession at global stage as the
profession of 21 century, added Datla Hanumanta Raju.
To globalise the profession, ICSI has approached the Commerce Ministry to agitate at the WTO
Forum for inclusion of a new Head for Corporate Governance and Company Secretarial Services
under the Services Sectoral Classification List of the WTO. The Institute has also sought support
from parallel Institutes in various countries of the world. The responses received from parallel
Institutes abroad have been encouraging, he added.
Understanding with Sister Professional bodies
ICSI has collaborated with the ICSA, UK for mutual recognition and exemptions. With the
Institutes of Company Secretaries in Kenya, Pakistan and Bangladesh and Sri Lanka, it is
collaborating for mutual exemptions and exchange of members and students as well as research
It has also collaborated with NLSIU, NALSAR and NISIET from Hyderabad and National Law
School of India University in Bangalore for mutual research and collaborative programmes. By
developing such relationships ICSI is spreading a network of opportunities for its members and
students, he added.
Shri Datla Hanumanta Raju , President ICSI further informed that the Institute has also
signed MOU’s with the Bombay Stock Exchange Ltd., Symbiosis International University,
ASSOCHAM, Federation of Andhra Pradesh Chamber of Commerce & Industry &
Merchants Chamber of Commerce and Industry, Kolkata and also with various Chambers
of Commerce and Industry.
ICSI has been the first professional body in the world to start the process of setting Secretarial
Standards for integration, harmonization and standardization of corporate secretarial practices.
This enhances corporate governance standards.
Shri Datla Hanumanta Raju informed that The Institute of Company Secretaries of India
has come out with ten Secretarial Standards for Good Governance viz., SS-1 Secretarial
Standard on Meetings of the Board of Directors, SS-2 Secretarial Standard on General Meetings,
SS-3 Secretarial Standard on Dividend,SS-4 Secretarial Standard on Registers and Records, SS-
5 Secretarial Standard on Minutes, SS-6 Secretarial Standard on Transmission of Shares and
Debentures. ,SS-7 Secretarial Standard on passing of resolutions by circulation, SS-8 Secretarial
Standard on affixing of common seal and SS-9 Secretarial Standard on forfeiture of shares.
SS-10 Secretarial Standard on Board’s Report will be released at the National Convention.
While the standards specify many timelines that are not prescribed by the Company Law, the
Institute maintains that these standards do not go beyond the existing law, but complement it.
The Secretarial Standards aim at bringing more clarity in certain areas where the law is
either silent or ambiguous. These do not overstep or modify the law in any way. The
standards also interpret it correctly for stakeholders’ reference, said ICSI President.
The Companies Bill, 2009 for the first time prescribes Compliances to Secretarial
Standards onboard and General meetings- added Shri Datla Hanumanta Raju.
Investor Education and Awareness
Investor protection and good corporate governance are the causes the Institute is pursuing with
missionary zeal. “It is in this direction that the Ministry of Corporate Affairs has registered the
Institute under the Investor Education and Protection Fund Rules.”
Shri Datla Hanumanta Raju , President ICSI stated that the Institute has also extended its
fullest support to the Ministry of Corporate Affairs in all its new initiatives which include sending
detailed comments and suggestions on New Company Law, representing on the Dr. J J Irani
Committee, as well as MCA 21 initiative. With SEBI, it has collaborated for developing Model
Listing Agreement and is working on other corporate governance initiatives.
With National Stock Exchange, it is working for corporate governance certification
programmes. ICSI also signed MOU with BTI-BSE towards conducting joint training programmes
on capital market. Under this MOU, ICSI & BSE have jointly organised short term course in
Capital Market and seminars on Fundamental analysis.
MOU with IGNOU: Specialised B.Com & M.Com courses for students of Company
Today’s young generation, whom we have to attract as students of our profession for its growth,
is very dynamic, time conscious and result oriented, opined Mr. Datla Hanumanta Raju and
informed that the ICSI and IGNOU signed an MOU. Under this MOU IGNOU has launched
specialised B.Com course with major in Corporate Affairs and Administration and M.Com. course
in Business Policy and Corporate Governance, exclusively for students of Company
Secretaryship and members of the ICSI. This MOU has enabled the students to simultaneously
pursue B.Com with major in Corporate Affairs and Administration as they study for Executive
Program for the CS Course.
The MOU with the IGNOU will enable our students and members to add gravity and polish to
their professional knowledge of Company Secretaryship, said Datla Hanumanta Raju and
explained that the emerging dynamic business environment demands professionals to
have the amalgam of professional as well as academic knowledge to fully appreciate multi
jurisdictional vision of corporate India. This MOU will certainly strengthen our profession
in terms of better visibility, reach and job opportunities, added Datla Hanumanta Raju.
The Institute has emerged as major driving force in Promoting Corporate Governance in
India. The Department of Public Enterprise, Government of India, in its recent directive to
Independent Director included the Institute as their Knowledge Partner. IGNOU has also
joined hand with ICSI for getting expert support in diversifying their Post Graduate
Diploma Course in Corporate Governance and recognized ICSI as Knowledge Partner. The
ICSI CG Award is one of the most Prestigious award being conferred to Corporates in
India for Good Corporate Governance Practices- added Shri Raju.
Dr. Amita Ahuja
(Public Relations &