- We are the most recognised profession in the capital market, handling compliances across the board of listed and unlisted companies: Narasimhan
- ICSI Ahmedabad Chapter jointly with i-Hub organizes a seminar on ‘the crucial and pivotal role to be played by the Company Secretaries for MSMEs and Start Up Ecosystem’
- ICSI Ahmedabad Chapter in talks with AUDA to get 25,000 sqft land to house its ultra modern facility
GOWRI MANICKAVASAGAM
AHMEDABAD, MAY 18
Stating that the Indian economy has reached the USD 4 trillion goal and progressing towards the USD 5 trillion target over the next two years, the USD 10 trillion target by 2030 and USD 30 trillion by 2047 as per the expectations, B Narasimhan, President of the Institute of Company Secretaries of India (ICSI), said here on Saturday that the demand for company secretaries will be tremendous to manage the inflow of capital both from the Indian and international investors.
“We have to increase the pool of Company Secretaries (CS) to 95,000 by 2030 and to 1.5 lakh-2 lakh by 2047, the year of Viksit Bharat economy driven by capital flow and the government-initiated infrastructure development. The country, currently, has 72,000 company secretaries.
Speaking to the media, Narasimhan said, “If the India becomes a $30-trillion economy by 2047, as aspired by the Prime Minister Narendra Modi, the requirement of company secretaries will be trippled compared to the current number. We, as CS, are the most recognised profession in the capital market, handling compliances across the board of listed and unlisted companies. SEBI has appointed us as the compliance officers and it is mandatory. CAs handle only the financial part of the corporates. Called the Governance professionals, Company Secretaries are at the forefront of managing capital flow from the market. The company secretaries ensure that the governance is properly done by all corporates, including MSMES and statrt-ups, across India.”
ICSI Ahmedabad Chapter-i-Hub hold seminar
Today the ICSI Ahmedabad Chapter jointly with i-Hub, an initiative of Government of Gujarat, organized a full day seminar for the Members of the ICSI. The theme for the Program was on the crucial and pivotal role to be played by the Company Secretaries for MSMEs and Start Up Ecosystem.
There were approximately 200 registrations from the Professional fraternity and the program was hosted at the i-Hub Auditorium, Gujarat University.
Mukesh Kumar, IAS, Principal Secretary, Higher & Technical Education, Department of Education, Government of Gujarat; M Nagarajan, IAS, Collector, Mehsana, the brain behind the setting up of i-Hub; RD Barhatt, Joint Commissioner of Industries, Government of Gujarat and Hiranmay Mahanta, CEO, i-Hub addressed the gatherings and shared the thoughts and highlighted the importance of the role of professionals especially the Company Secretaries in the MSMEs and Start Up Ecosystem.
The President on the sideline has an interaction with the CEO of i-Hub, Shri Hiranmay Mahanta and it was decided that the ICSI will prepare and compile a Module which will give an in-depth analysis and identify the concepts of the Compliance and Governance Structure for the MSMEs and Start Ups.
Today’s program between i-Hub and the ICSI will create a platform, which will cater the needs of the MSMEs and Start Ups so that they can have a futuristic vision and a way to become the unicorns.
Important Role of Company Secretaries in Nation Building
Company secretaries play a crucial role in the governance and compliance structures of MSMEs (Micro, Small, and Medium Enterprises) and startups. Some key aspects of their role include:
Compliance Management: Ensuring that the company complies with all legal and regulatory requirements, including filing of statutory returns and maintaining statutory registers.
Governance Framework: Developing and maintaining effective governance policies and procedures to ensure transparency and accountability within the organization.
Board Support: Assisting the board of directors in understanding their roles and responsibilities, organizing board meetings, and ensuring that decisions are implemented.
Risk Management: Identifying and mitigating risks that could impact the company’s operations or reputation.
Secretarial Audit: Conducting regular audits to ensure compliance with applicable laws and regulations.
Legal Advisory: Providing legal advice on various matters, including contract negotiations, intellectual property rights, and corporate governance issues.
Ethical Practices: Ensuring that the company adheres to ethical practices and follows principles of good corporate governance.
