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Corporate governance - inside story

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mukul mehra (B.com MBA-HR ADLL CS-Final LLb TCP)   (591 Points)
Replied 16 September 2011

i am in total support ankur your are just ringing the bell on time and its wakeup call for every single CS and council member to fight for existence of such a coveted profession lets unite and fight for a CS fraternity you made a very true analysis keep on rolling i am with you in full support



sona rajora (web content writer PURSUING CS)   (22 Points)
Replied 16 September 2011

 

Good evening sir,

first i would like to thank you for taking  such a great step to fight for CS profession.

I completely agree with you.....these MCA people are very active if a Company Secretary do any mistake regarding complying legal formalities or has been wrongly blamed by someone for doing anything wrong which is not wrong at all.....but when it comes to companies they just keep quite because  for them violating section 383A is not a serious issue and doent attract their attention.....we must strive hard and  fight for our profession. I heard from  many people saying that CS is nothing, it is just so easy to do and all. They still think that only Chatered Accountancy course is the superior one. Some people ask me as if i am a personal secretary, they don't know what exactly our profession means, moreover you will be shocked to listen that one day at a educational academy one lecturer working as a senior manager in SBI asked me what is the meaning of company Secretary course and all and to your astonishment let me clear he was there to teach accounts to CWA students..i request everyone not to degrade any profession all have equal importance if properly consider, and MCA people get up from sleep and ensure transparency in companies to protect interest of around thousands or lakhs of shareholders.  one more thing i would like to say sometimes CS are required to do some work which they don't deserve. They are managerial personnel not like a personal assistant of a company.

 

 

thank you

SONA RAJORA


vimal sharma (Company Secretary ) (64 Points)
Replied 19 September 2011

This is a vry unfortunate thing that a person who takes care the stake of shareholders is not appointed in the Annual General Meeting...Company Secretary must be appointed in the Annual General Meeting...only CS interacts with the Shareholders ofg the Company..

Rajesh srivastava (Company Secretary) (57 Points)
Replied 20 September 2011

DEAR GREAT EFFORT...I AM WITH U..PERSONALLY AND PROFESSIONALY.....I HAVE ALL READY FILIED A RTI REGARDING THIS MATTER, I HAVE TWO MORE EXAMPLE REGARDING APPOINTMENT OF CS, DURING INSPECTION BY REGIONAL DIRECTOR NO QUESTION ASKED REAGRDING APPOINTMENT OF CS, NO SHOWING ANY QUESTION IN PF, MADE BY REGIONLA DIRECTOR (INSPECTION), NOIDA.......AGAIN I AM STAND WID YOU AND WITH UR EFFORT....GO HEAD..ALL THE BEST ...

 

 


CS. Ashish Shah (Service) (175 Points)
Replied 24 September 2011

Dear Professional Member,


I have gone through the details given in your post and after going through the post, I had discussions with one of the learned members of the Institute and came to know the fact that about our learned member CS. G. Jayaraman. The details as as under.


In the investigation of the Satyam Computers case, almost 6 institutions were  involved namely CBI, ICAI, ICSI and other three.


However, nobody was able to found out that CS. G. Jayaraman was guilty of any offense. After going through the site of BSE India, I came to know that CS. Jayaraman is still there as the Company Secretary in the new company namely Mahindra Satyam as Sr. Vice President - Corp Governance & Company Secretary. So tell me one thing if I was involved in any default of my company, then why should the other company which is taking over the business of that company continue me for any of the position in the new company.


Further he is at the top most position in the main management of Mahindra Satyam.


So I humbly urge you to bring this facts before our members.


After going through the facts, I personally feel that by this type of posts we are just wasting our time without any real knowledge of the facts and decreasing our as well as our Institutes value.


With Warm Regards,

 

CS. Ashish Shah

Company Secretary





(Guest)

 

I must say that, Ashish, You are one of the “biggest Chamcha” of Council.

 

I have sent this mail to almost 5000 CS Members and Council also. Only 1, and that’s you (apart from all council members), who thinks that my article is wrong. Come at my home and check my mail box, I have received more than 300 replies and they all says that this is true.

 

Are you trying to say that It is not ICSI’s duty to enforce the Section 383A of The Companies Act, 1956. Look at the functions of Council, You will come to know, whose duty it was. I and others (except YOU) appoint Council Members, not for time pass, But I and others (except YOU) assign them the powers to protect our rights.

 

And In the Satyam Matter, as per your level of Intelligence, I can expect that kind of answer.

 

Do you have ever tried to look at the viewpoint of Tech Mahindra in G. Jayaraman’s case? I am sure, You have not. Why should Tech Mahindra needs to remove G. Jayaraman as the Golbal Head of Corporate Governance. He is the one of the few person, who helped Tech Mahindra to achieve hidden profit of more than Rs. 5000 crores [as It bought the shares of that company, whose 52 week’s highest price was Rs. 518 at Rs. 59 only (12% of the Highest price].

 

Who is that Idiot in the world, who kills the Hen, who just has given Thousands of Golden eggs. Moreover, Satyam didn’t lose its major clients. Moreover, It’s about to get back around Rs. 300 crore Income tax paid by Raju.

 

Please don’t start the new topic of Income Tax’ demand notice of around Rs. 2200 crore. Because It will have the same result as the Income Tax’s demand notice of around Rs. 550 crore in March.

 

FYI: Satyam Shares Prices:-  

 

March 14, 2008 - Rs. 518

Januray 5, 2009 - Rs. 180

January 7, 2009 - Rs. 20

 

You are talking that, you have consulted one of the Learned member of the Institute. But I tell you, One of the Council member has told me that, Enquiry was set on other grounds at that time, and G. jayaraman’s duty was to hold the Audit committee meetings and circulate the agenda only.

 

At that time my question is If My full-time servant of mine, knows everything about my family, My driver knows about my every clients and my daily schedule, then Is G. Jayaraman was dumb and deaf, that He didn’t come to know about the facts of Scam earlier.

 

If you are one of those, who thinks that G. Jayaraman, should not have that much knowledge of Bank and Cash balances, then You are the one of the most idiot company secretary hired by your company.

 

FYI: I am not related to ICICI Bank in any manner, still knows that lower level officials of ICICI Bank are actually the employees of the Modern Business Solutions, still they are answerable to ICICI Bank, work for ICICI Bank on 24*7 basis.   

  

 

Don’t waste my time on these non-sense things. I know your type of people, who never appreciates the good work of others. I see people like you daily in TV serials.

 

If you don’t like my mails, then Send me your email-id, I will remove your name from my list.

 

 

 



(Guest)

 

To all those, Who have appreciated the matter. I thank you very much.

 

 

The new article on the “STP System – Reason for triggered rate of false certificate and Actual Meaning of Professional Development Programme/Credit Hour” will be published in a day or two.



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