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Monday, September 25, 2023

Institute of Company Secretaries announces series of new initiatives


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Kolkata: The Institute of Company Secretaries (ICSI), announced a slew of new initiatives at its three-day 50th National Convention of Company Secretaries, attended by over 1100 delegates in person from all over India, and with 4,500 members joining in virtually. This year’s Convention, themed ‘Company Secretary: A Vishwaguru in Governance and Sustainability’, explored the renewed role and responsibility of Company Secretaries (CS) in response to the changing dynamics of the regulatory environment.

“ICSI has undertaken a slew of national and international initiatives and projects that are at various stages of implementation. At the Convention there would be capacity building and forward-looking sessions engaging 7000 plus CS members across India”, said CS Devendra V Deshpande, President, ICSI.

Some of the key announced ICSI initiatives, which are on the anvil are coming up with a new Centre of Excellence (CoE) at Rajarhat, New Town, Kolkata. This would be one of the most important training premises or infrastructures of ICSI. The CoE is expected to start operations by the end of 2022. This would greatly benefit the CS and students. ICSI also has an academic connection with students through MoUs with different universities and institutes, including the IIMs, and conducts various programs and courses that impart skills and increase their employability.

Other than this, a whole new ICSI syllabus was also launched which is in sync with the New Education Policy of the government. The new syllabus would be effective from 2023. ICSI has factored in over 5000 feedbacks and suggestions from the general public while drafting the new syllabus.

Next, ICSI formally announced and launched a new overseas centre in Canada. This would be the sixth ICSI Overseas Centre after Australia, Singapore, UAE, USA and UK. The ICSI team will go to Canada by the end of 2022 to formally inaugurate the centre. The ICSI overseas centres cater to the needs of overseas students and professionals.

The Institute also formally announced the launch of its own `ADR Centre’. Arbitration, mediation, conciliation, negotiation are a part and parcel of ADR addressing commercial disputes. A new company has been incorporated for this purpose. ICSI will start a pilot project from Hyderabad and has the full support and guidance of the Ministry of Law and the mandate is to open 20 such ADR Centres across India.

ICSI is gearing up to sign an MoU with the West Bengal Government to provide services to the MSMEs. This would provide wide-ranging support to the MSMEs in the state and help them to garner maximum benefits available under various schemes.

Under the StartUpSarathi project, ICSI will support corporates on incorporation, registration and compliance of start-ups. ICSI members would be especially empanelled for this purpose.

ICSI has submitted a proposal to the University Grants Commission (UGC) to include its member CS on its draft resolution on practising professors and the UGC has partly agreed to it. Company Secretaries with 15 plus years of experience in a professional field would soon be able to work as practising professors and would help develop the academic side of the Institute.

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