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ICSI-President's Message - January 2013

Posted on 05 January 2013,    
 19875    Share  Report

 

Dear Professional Colleagues,

Yesterday is but today’s memory, tomorrow is today’s dream  – Kahlil Gibran

 

At the outset, I wish you a very happy, prosperous and rewarding New Year. The New Year may give each one of us strength, enthusiasm and cheer to smilingly meet all challenges and to convert them into opportunities.

 

During the year, I used best of my energies and time for the cause of the profession with complete dedication and commitment.

 

A number of initiatives have been taken during 2012 and a lot needs to be taken to realise our vision. The achievements during the year were the collective wisdom and efforts of the Council, members, employees and other stakeholders of the Institute and I am sure, we will continue our efforts to achieve further heights in times to come.

 

The Institute has a powerful vision that is driving all of us to new global benchmarks. Our mission and values provide the guiding principles with which we move seamlessly to realise our vision. As I head towards completing my tenure as President of this esteemed Institute with enduring commitment to serve the profession of Company Secretaries, I deem it my duty to provide you the glimpses of major developments that have taken place and the initiatives taken towards growth of the profession and the Institute during the year.

 

New Secretary of the Institute

I am pleased to inform you that CS M S Sahoo, a distinguished Fellow Member of the Institute of Company Secretaries of India and a member of Indian Economic Services (1985 Batch) has joined the Institute as Secretary. I welcome CS M S Sahoo and am sure the Institute and the profession of Company Secretaries will be immensely benefited by his knowledge, experience and administrative acumen.

 

Superannuation of Shri N K Jain

Shri N K Jain, the Secretary & CEO of the Institute after providing his valuable services to the Institute and the profession of Company Secretaries for about a decade superannuated on December 31, 2012. During his tenure the Institute witnessed growth both in terms of qualitative and quantitative parameters. I wish him all the very best of health, prosperity and peaceful years ahead.

 

Companies Bill, 2012

The Companies Bill, 2012 has been passed by the Lok Sabha on 18th December, 2012. The Companies Bill, 2012, on its enactment, would pave the way for a modern legislation for growth and regulation of corporate sector in India. The Bill containing various reformatory and contemporary provisions endeavours towards compliance of law in a better and effective manner; ensures investor protection and to promote higher disclosures, transparency, and accountability; and to serve better the interests of the corporates, investors and other stakeholders.

 

I am sure that on enactment of new Company Law, the role of Company Secretaries will undergo a major transformation.

 

Policy Document on Corporate Governance

You are aware that the Ministry of Corporate Affairs had constituted a Committee under the Chairmanship of Shri Adi Godrej to formulate a policy document on Corporate Governance and your President was appointed as member secretary/convener of the Committee. The Committee after extensive deliberations formulated policy document on corporate governance which was submitted to Dr. M Veerappa Moily, the then Hon'ble Minister of Corporate Affairs and Power on September 18, 2012, at Mumbai.

 

The Committee had representation from the professional bodies, i.e. the Institute of Company Secretaries of India, the Institute of Chartered Accountants of India, and the Institute of Cost Accountants of India, Indian Institute of Corporate Affairs, Industry associations - CII, FICCI, ASSOCHAM and eminent persons from the trade and industry.

 

Company Secretaries (Amendment) Regulations, 2012

The Company Secretaries (Amendment) Regulations, 2012 notified on 4th June 2012, paved the way for introduction of Corporate Compliance Executive Certificate; two new PMQ courses on Competition Law, and Corporate Restructuring and Insolvency. The amended regulations also provide for provisional registration for the Executive Programme, for a person who has appeared or enrolled himself for appearing in the degree examination in any discipline other than Fine Arts.

 

The Ministry of Corporate Affairs has also approved the Draft Regulations to further amend the Company Secretaries Regulations to provide for new training structure. The draft Regulations have been published elsewhere in this issue. I invite members and all stakeholders to send their suggestions/comments on the draft to the Institute within specified time.

 

New Syllabus for Company Secretaryship Course

The Council of the Institute approved the new syllabus for Foundation, Executive and Professional Programmes, which is contemporary in approach and global in perspective. The new syllabus has been given contemporary spirit by incorporating Electives at the Professional Programme level.

 

The new syllabus for Foundation has been implemented w.e.f. February 1, 2012 and the first examination for the same was held in December, 2012 session under the Optical Mark Recognition (OMR) system.

 

With greater emphasis on due diligence, financial management, compliance management, corporate governance, sustainability and ethics, etc., the New Syllabus for Executive Programme comprises Seven papers instead of six papers as at present and Nine papers at Professional Programme level including one Paper to be opted by the students out of five elective papers namely, (i) Banking Law and Practice; (ii) Capital, Commodities and Money Market; (iii) Insurance Law and Practice; (iv) Intellectual Property Rights – Law and Practice; and (v) International Business-Laws and Practice, instead of eight papers as at present. The Council has decided to implement the new syllabus for Executive Programme w.e.f. February 1, 2013 and the Professional Programme w.e.f. September 1, 2013.

 

E-Governance Initiatives

The Institute had successfully launched e-MSOP, a Web-based training to enable the certain categories of candidates who are not able to spare 15 days at a stretch to attend the e-MSOP. A candidate can complete e-MSOP through Virtual Class from any place. On the similar lines and encouraged by the success of e-MSOP, the Institute introduced e-SIP and e-EDP to enable candidates who are not able to undergo the programme as per the timelines. This initiative also enabled candidates to attend the programme located at a place where programmes are not organized.

 

Study Material on the website

The Institute as part of its green initiatives, leveraged technology for providing online services to students and has uploaded on its website, the study material for the Foundation, Executive and Professional Programmes.

 

Certificate Course on Valuation

The Institute as part of capacity building of its members initiated the process of developing short term Certificate Courses on new emerging areas, to provide specialized application oriented knowledge to enable the members to render their services in diversified areas. It was in this direction that the Institute launched a Certificate Course on Valuation at 40th National Convention of Company Secretaries, so as to build the skills and expertise of its members in carrying out the valuation assignment relevant to today’s business environment. To begin with, the Course would be available at ICSI-NIRC at New Delhi and ICSI-CCGRT at Navi Mumbai and subsequently to be offered from Regional Councils, and A+ and A Grade Chapters.

 

Corporate Compliance Executive Certificate

You are aware that the Concept of Corporate Compliance Executive Certificate (CCEC) was conceived with an objective to develop a cadre of Compliance Executives to cater to the Corporate Secretarial Compliance and Governance requirements of those companies which are not required to appoint a Company Secretary. Under this course the students who have passed the Foundation Examination and two prescribed papers of Executive Programme will be awarded Corporate Compliance Executive Certificate subject to certain requirements with respect to training, professional development programmes etc. The implementation plan is being worked out and the CCEC would be launched shortly.

 

PMQ Course in Corporate Restructuring and Insolvency

The Institute introduces Post Membership Qualification Courses on new and emerging areas for its members. You are aware that PMQ Course in Corporate Governance is going apace and a new Post Membership Qualification (PMQ) Course in Corporate Restructuring and Insolvency has been launched at 40th National Convention of Company Secretaries. This PMQ Course aims at capacity building of Professionals in the areas of legal, practical and application oriented aspects of corporate restructuring, rescue, rehabilitation, insolvency and matters related thereto, will have written examination as well as compulsory workshop for case studies. This course will be available to members shortly.

 

MEETINGS WITH GOVERNMENT, REGULATORY AUTHORITIES, ETC

During the year, the delegation of the Institute met Hon’ble Union Ministers, Chief Ministers, Regulators, Universities and Chambers of Commerce and Industries. A brief description is given below:

 

Meeting with Ministers

ICSI delegation met Shri Sachin Pilot, Hon’ble Minister of State for Corporate Affairs (I/C) and Dr. M Veerappa Moily, the then Hon’ble Union Minister of Corporate Affairs and Power and discussed matters of professional interest.

 

Meeting with Regulators

The delegation of the Institute met S/Shri Prashant Saran, Rajeev Kumar Agarwal, Whole time Members and R Ravindran, Executive Director, SEBI; and Shri Ravi Narain, MD & CEO, NSE and Shri Ashish Chauhan, CEO, BSE.

 

Meeting with Chief Minister, Jammu & Kashmir

The Institute’s delegation met Shri Omar Abdullah, Hon’ble Chief Minister of Jammu and Kashmir and apprised him of the activities and initiatives of the Institute towards development of the profession in Jammu & Kashmir. The Institute also submitted a request to recognise the Company Secretaries under Jammu & Kashmir VAT Act, 2005 to appear before the VAT Authorities and to conduct VAT Audit.

 

Meeting with Shri Oommen Chandy, Chief Minister of Kerala

A delegation of the Institute met Shri Oommen Chandy, Hon’ble Chief Minister of Kerala and apprised him of initiatives taken by the Institute towards growth and development of the profession of Company Secretaries, including Corporate Governance, CSR.

 

Meeting with Vice Chancellor of University of Kashmir

A delegation of the Institute met Prof. (Dr.) Talat Ahmad, Vice Chancellor and senior faculty members of University of Kashmir and discussed the matters of mutual interest from opening of Study Centre in the University campus to holding joint workshops, seminars, continuing education and training programmes on academic/professional interest; Regular exchange of journals; Recognizing membership of the ICSI, as equivalent to Masters Degree for the purpose of pursuing Ph.D. course in Management, Commerce and Law; Exchange of faculty, undertaking joint research studies in mutually beneficial fields relevant to corporate management, Governance, CSR, financial markets, including commercial laws.

 

Meeting with Management Associations/Chamber of Commerce

The delegation of the Institute met Shri Babu Thomas, President of Trivandrum Management Association (TRIMA). The delegation also had a meeting with Shri W M Nazeeb, President, Trivandrum Chamber of Commerce (TCC). Both Shri Thomas and Shri Nazeeb assured all support in the development of the profession in the region and emphasized on jointly conducting professional development programmes.

 

Meeting of the Coordination Committee

The meeting of Co-ordination Committee of three Institutes, i.e., the Institute of Company Secretaries of India, Institute of Chartered Accountants of India and the Institute of Cost Accountants of India was held on August 06, 2012 at the Headquarters of the Institute to deliberate upon areas of mutual interest.

 

INTERNATIONAL PERSPECTIVE

 

CRF 2012 Conference

The Institute played a Key role in structuring and organizing the Ministry of Corporate Affairs (MCA) 8th Conference of Corporate Registers Forum (CRF-2012) on February 14 -16, 2012 at New Delhi, on the theme ‘Control to Self Regulation : Sharing Knowledge – Sharing Best Practices’ as Knowledge Partners.

Meeting of India-Netherlands Joint Working Group

The Institute represented at the first meeting of India-Netherlands Joint Working Group (JWG) on Corporate Governance and Corporate Social Responsibility held on February 21-22, 2012 at New Delhi.

 

Meeting of the Members of CSIA

ICSI delegation attended meeting of Executive Committee of Corporate Secretaries International Association (CSIA) on 17th April, 2012 at Sydney (Australia). The Executive Committee of CSIA comprises eight of its founder members, namely Australia, Hong Kong, Malaysia, Singapore, South Africa, UK, Zimbabwe and the ICSI from India.

 

Toolkit for Corporate Secretaries

Towards effective continuum of ICSI interface with global community of corporate secretaries, the Institute participated in a four day Core Group meeting for Preparation of Corporate Secretaries Toolkit, a joint initiative of Global Corporate Governance Forum (GCGF) and Corporate Secretaries International Association (CSIA) from February 21- 24, 2012 at Washington DC, USA. The toolkit aims to develop a framework to provide training of trainers, to train the Company Secretaries and governance professionals in the member countries of CSIA and in countries where the concept of the corporate/company secretary is still developing.

 

CSIA Council Meeting

ICSI delegation attended 5th CSIA Council Meeting held on October 20, 2012 at New York (USA). ICSI delegation also attended CSIA 2nd International Roundtable Meeting held on October 17, 2012.

 

Meeting of GRI Focal Point India Advisory Group

The Institute represented at the meeting of GRI Focal Point India Advisory Group held on March 22, 2012 at ICSI House New Delhi. The Group deliberated on strategies 2012 to mainstream sustainability reporting in India and how to make GRI Focal Point India a self sustained unit.

 

CSIA Presentation to WTO

The Institute participated in the CSIA presentation before the WTO on June 25, 2012 at Geneva seeking inclusion of a separate service head namely ‘Corporate Governance, Compliances and Secretarial Advisory Services’ under the service Sectoral classification list of WTO. In the post presentation, seven countries supported the initiative of CSIA and some other countries appreciated and agreed to support the proposal when it comes for discussion.

 

Visit of WTO Official to ICSI Headquarters

Dr. Harsha Vardhana Singh, Deputy Director General, WTO visited Headquarters of the Institute at New Delhi on July 18, 2012 and had a meeting with the senior officials of Institute.

 

Visit of Mr. Kevin Moore, Director, Global Business Development, CISI

Mr. Kevin Moore, Director, Global Business Development, Chartered Institute of Securities and Investment (CISI), London (UK), visited ICSI Headquarters on September 11, 2012 alongwith Shri Ganesh Iyer, the Country Head of CISI, India.

 

Interaction with Regulators Abroad

During visit to South Africa, the discussions were held with regulatory authorities in South Africa to apprise them of the role of Company Secretaries in corporate governance and the recognitions to Company Secretaries under various laws in India.

 

During the London visit, meetings were held with Legendary Prof. Mervyn E. King SE, Chairman of the King Committee on Corporate Governance, South Africa and Mr. Ola Ullsten, Former Prime Minister of Sweden; Rt. Hon'ble Baroness Verma, Parliamentary Under Secretary of State for Energy and Climate Change, Government of UK; Shri Amitabh Jain, IAS, Minister (Economic), High Commission of India in UK; Dr. Charles Tannock MEP, ECR, Spokesman on Foreign Affairs in the European Parliament; and Dr. Graham Wilson, Leadership and Organisation Development, Oxford, UK.

 

During visit to Tanzania, meetings were held with Deputy Registrar and Assistant Registrar, Ministry of Industry and Trade, Business Registration and Licensing Agency (BRELA), Mr. Gandence Cassian Kayombo, Member of Parliament, Government of Tanzania, Dr. Adelhelm Meru, Director General, Export Processing Zones Authority (EPZA) Tanzania and Prof. Bonaventure Rutinwa, Dean, School of Law, University of Dar Es Salaam, Tanzania and apprised them about the role and functions of ICSI and the profession of Company Secretaries in India.

 

ICSI REPRESENTATION AT INTERNATIONAL CONFERENCES

During the year, the representatives of the Institute attended following Conferences organized by the professional bodies and associated organizations abroad.

16th Annual International Conference of Institute of Certified Public Secretaries of Kenya (ICPSK) held on 8th to 10th August, 2012 on the theme “Governance Perspectives in Harnessing Natural Resources for Development”

The First GRI South Asia Conference on 'Sustainability Reporting for a Sustainable Economy' held on September 26, 2012 at New Delhi.

36th Annual Conference of The Institute of Chartered Secretaries and Administrators of Nigeria held on September 27-28, 2012 at Abuja, Nigeria on the theme, "Investing and Sustaining Businesses in Nigeria: Issues of Governance". 

London Global Convention 2012 organized by the Institute of Directors (IOD) India on the theme 'Corporate Governance Perspective & Sustainability Challenges'.

Conference organised by Society of Corporate Secretaries and Governance Professionals at New York on October 18-19, 2012.

Asian Roundtable on Corporate Governance organized by OECD in Tokyo, Japan on 24-25 October 2012 to discuss the emerging issues, development & challenges in corporate governance in Asian region.

4th Convention on Modernisation of the Companies Act: Enhancing Good Governance organised by Institute of Chartered Secretaries Bangladesh on December 21-22, 2012 at Dhaka.

 

COLLABORATIVE PROGRAMMES

During the year, the Institute participated as Co-host, Academic partner/Institutional Partner in a number of programmes organised by Chambers of Commerce as under:

 

Joint One Day Seminar with Indian Merchants Chamber on ‘Investment Outlook 2012’on April 13, 2012 at BSE Convention Hall, Mumbai

 

As Academic Partner with ASSOCHAM program on XBRL and Revised Schedule VI Redefining Financial reporting for Corporates (Including Live Demo on XBRL) on August 08,2012 at ASSOCHAM New Delhi and on September 18, 2012 at Mumbai

 

Co-organized the event with Indian Merchants Chamber on Regulatory Developments in Securities Market Law on August 17,2012 at Mumbai

 

As Institutional Partner with Confederation of Indian Industry programme on Deepening of Capital Markets: Faster Growth of Economy on December 12, 2012

 

As Institutional Partner with Confederation of Indian Industry Seminar on Master Class on Effective compliance with Competition & Anti Corruption Laws on December 18, 2012 at New Delhi

 

PROFESSIONAL DEVELOPMENT PROGRAMMES

Capital Markets Week 2012

The Institute celebrated First Capital Markets Week from April 23-28, 2012 on the theme 'Capital Market – Growth Drivers’, by organizing six programmes at Mumbai, Bengaluru, Chennai, Kolkata, Ahmedabad and New Delhi. In addition, forty one programmes, such as investor awareness programmes, lectures, panel discussions, interactive meetings were also organised by Regional Councils and Chapters during the Capital Markets Week.

 

International Professional Development Fellowship Programme

International Professional Development Fellowship Programme, an initiative of the Institute to provide its members exposure to the expectations of international market for professional services, and opportunities of networking with their counterparts completed its seventh year with the organisation of Fellowship Programme in South Africa covering Sun City, Johannesburg and Cape Town during June 15-23, 2012.

 

International Conference

7th International Conference was organised on the theme “Governance, Rating and Economic Performance” in association with Chartered Secretaries Southern Africa and National Foundation for Corporate Governance on June 19, 2012 at Johannesburg, South Africa.

 

2nd ICSI Corporate Governance Week

The Institute celebrated “2nd ICSI Corporate Governance Week” on the theme Good Governance for Sustainability, from 27th to 31st August, 2012 by organizing five mega programmes at Bengaluru, Hyderabad, Mumbai, Kolkata and New Delhi.

 

13th National Conference of Practising Company Secretaries

13th National Conference of Practising Company Secretaries on the Theme "Emerging Trends and Opportunities – Preparedness for PCS” was held on May 25-26 at Srinagar, Kashmir.

 

40TH National Convention

The 40th National Convention of Company Secretaries was held on October 04-06, 2012 at Aamby Valley on the theme 'Vision 2020: Transform, Conform and Perform'.

 

ICSI Convocation

With a view to formalize the award of Associate and Honorary Membership of the Institute and to recognize the achievement of the students in their studies, the Institute convened the Convocation at all four Regions in November 2012.

 

Visit to Regional Councils/Chapters

During the year, I visited Regional Councils and Chapters spread throughout the length and breadth of the country. During the visits, I attended Conferences, Seminars and availed the opportunity to meet the students, members and media.

 

Memorandum of Understanding

The Institute has been constantly endeavouring to create synergy through entering into MOUs with stock exchanges, academic institutions and Chambers of Commerce. During the year, the Institute signed MOUs with the following organisations/institutions:

Bangalore Stock Exchange Ltd.

Madras Stock Exchange Ltd.

Alliance University, Bengaluru

Direct Taxes Regional Training Institute (DTRTI)

Indian Institute of Corporate Affairs (IICA)

The Stock Exchange Investors’ Protection fund, a recognised Public Trust established by BSE Limited.

National Stock Exchange of India Ltd.

CMJ University, Meghalaya

Symbiosis Centre for Management Studies, NOIDA

 

New Training Structure for Students

The Council of the Institute approved New Training Structure for students comprising twenty-four months training with a Company or Practising Company Secretary for Executive Programme passed students, four days Student Induction Programme (SIP), seventy hours of Information Technology Training (ITT), ten days Executive Development Programme (EDP), five days (forty hours) Professional Development Programme (PDP) and three weeks non- residential/two weeks residential Management Skills Orientation Programme (MSOP).

The Council has also approved the alternate training for thirty-six months with a Practising Company Secretary for the students registered to the Executive Programme. In addition, the Council has also approved the Internal Exemption Policy from undergoing training on the basis of qualification or experience. New training structure will be implemented once the regulations are amended.

 

Peer Review

During the year eleven (11) Training Programmes for Peer Reviewers were organised empanelling 157 peer reviewers throughout the country and more such training programmes are planned to be organized in other regions. Fifty Two Practice Units were identified through the Random Selection Process in the first phase, out of which Peer Reviewers had been allocated for 20 such Practice unit (PCS firms). Peer Review has been completed for 11 Practice Units. In the second phase the Peer Review Board identified 300 Practice Units to be Peer Reviewed upto March 31, 2013. The duly filled in questionnaires have been received from 77 Practice Units and allotment of Peer Reviewers is in progress. The Peer Review Board has decided to issue Peer Review Certificates to the 11 Peer Reviewed Practice Units and to publish their names in the Chartered Secretary. The names would also be hosted on the web page of the Peer Review Board on the ICSI website. I appeal to all my practising colleagues to participate in the Peer Review Process.

 

Guidelines for Conversion of Firms of PCS into LLPs

The Council of the Institute has issued Guidelines for Setting up and Conversion of Firms of PCS into LLPs. The guidelines have come into effect from June 9, 2012. Company Secretaries in Practice who are desirous of forming LLPs or wish to convert their firms of PCS into LLPs may now do so by making an application for approval of their firm name to the Directorate of Membership in the Institute.

 

ICSI Norm on ‘Know Your Client’

The Council of the Institute has issued the “Know Your Client” norms for its practising members, which are recommendatory in nature. These norms are available on the website of the Institute.

Strategy Implementation Workshop

The Institute adopted Top Ten Goals to be achieved during 2011-14. A detailed strategic action plan was prepared and the implementation process was initiated. It was in this direction that the Institute organised a Strategy Implementation Workshop for Council Members and Head of Departments of the Institute to convert the implementation strategy into Specific, Measurable, Actionable, Realistic and Timely (SMART) Action Plan. The action plan so developed is being implemented and the progress is being reviewed on regular basis.

 

Infrastructure Development

During the year special attention/thrust was given for development of Infrastructure of the Institute in line with Goal No- 2 of the top ten goals, i.e. Improve infrastructure with special attention to Regional Offices and Chapters. The details in brief of the initiatives taken in the form of renovation of premises for proper utilisation of space and to create good ambience for working, additional construction, acquisition of land/ office space, construction of building etc during the year were as under.

 

A. Head office

 

Proposal for acquisition of building at Sec-62, Noida and construction of 4th floor on the existing building of ICSI-Noida building are in process.

Application has been submitted to Haryana Govt. for allotment of land for setting up of Centre of Excellence (CoE) at Gurgaon for Northern Region. Further, submission of application for allotment of land by West Bengal Govt. for setting up of CoE at Kolkata for Eastern Region is in process.

Necessary follow up has been made for taking possession of land from APIICL for commencement of work for Research &Training Centre at Hyderabad. The possession will be taken very soon

 

B. Regional Councils

Renovation of ICSI-NIRC building is in progress and nearing completion.

Renovation of office of WIRC at No.13, Jolly Maker Chambers No. 2 (1st floor) Nariman Point, Mumbai was completed and put to use. Approval for renovation of offices Nos.56 & 57 (5th floor) in the above building has been given and work will commence soon.

 

C. Chapters

Bhoomi poojan/ Foundation Laying Ceremony for construction of Coimbatore chapter’s building was held on July 2, 2012 wherein Minister of Corporate Affairs, Govt. of India, was the Chief Guest.

Approvals have been given to the proposals for acquisition of land for Ajmer and Vishakhapatnam chapters and built up floor for Shimla and Thane chapters.

Approval for renovation work of Patna chapter’s premises has been given and work will commence soon.

Approval for construction of additional floor on the existing building of Bhubaneswar chapter has been given.

Applications have been submitted to Concerned State Governments for allotment of land for Gurgaon, Jammu & Srinagar, Agra, Thiruvananthapuram and Kochi Chapters.

Construction work of Bangalore Chapter’s building is in progress.

Obtaining approval of drawings from concerned authority/ tendering process are in progress for construction of buildings for North Eastern (Guwahati), Faridabad, Udaipur and Bhilwara chapters.

 

D. ICSI- Support office

To achieve one of the sub goals of goal No-2 of the top ten goals, i.e. Institute’s presence beyond Chapters, the Council has approved the setting up of ICSI- Support offices at eight locations in the 1st phase at Ambala, Bikaner, Gorakhpur, Ernakulum, Hubli, Kottayam, Vijayawada and Siliguri..

 

ICSI-Direct

The Institute has initiated the process of integrating various processes to provide more efficient services to stakeholders. This initiative uses the latest technologies and platforms to provide an effective two way communication between the Institute and its stakeholders. The first of such processes, which has been launched is Online Registration Services to the student. The Online Registration process on www.icsi.in uses technology to provide a true paperless environment.

 

Stakeholder Consultation through Teleconferencing

 

The Institute initiated the process of periodical teleconferencing between the Headquarters and Regional Councils and Chapters, to understand and resolve day to day matters pertaining to members, students including administrative matters. I appreciate the Regional Councils and Chapters for very encouraging response to this new initiative.

 

Brand Building / Media Visibility through media coverage in Newspapers & TV Channels

The Institute in its constant endeavour for brand building to enhance the visibility of the CS profession gained extensive coverage on the CS Course & Profession in the Electronic media throughout the year by way of various Seminar telecasts / Live Panel discussions/ Scrollers ensuring all India visibility of the Institute.

Telecast / Broadcast of TV / Radio Spots on CS

 

CS Spots were telecast / broadcast on All India Radio- National and Doordarshan National Network.

 

HR Conclave

With a view to showcase the CS profession and to project true potential of the Company Secretary as a multifaceted professional, Institute in association with NIRC organized HR Conclave on the theme “Company Secretary: A Key Managerial Personnel “in which around 65 HR personnel participated as delegates. Speakers shared their experience and views on the changing role of Company Secretary during last three decades. .

 

Campus Placement

The Institute has conducted Campus Placement for Members for employment and Students for Training during the year 2012 at EIRC, NIRC, SIRC, WIRC, NOIDA Chapter, Gurgaon Chapter, Pune Chapter, Jaipur Chapter, Hyderabad Chapter and Bangalore Chapter. The response received is very encouraging.

 

Ph.D Recognitions

As part of capacity building initiative, the Institute has been making constant efforts to secure recognitions for its members to pursue Ph.D. programme in Universities and management institutions. So far more than fifty five Universities have recognised CS Qualification for pursuing Ph.D. programme. During the year following recognitions were achieved:

Rajiv Gandhi Indian Institute of Management, Shillong has recognised CS qualification (among other professional qualifications) for pursuing FPM (Fellow Programme in Management, equivalent to Ph.D.).

Mahatma Gandhi University, Meghalaya has also provisionally recognized CS qualification as equivalent to post-graduate degree for pursuing Ph.D. in law, Commerce and Management.

 

CS Benevolent Fund

I wish to emphasize once again that CS Benevolent Fund is a collective effort towards extending much needed financial support for our members in times of distress and appeal the members to become the life member of CS Benevolent Fund and be the part of the collective efforts. I am pleased to note that EIRC, NIRC, SIRC and Hyderabad, Jaipur and Pune Chapters of the Institute have contributed to the CS Benevolent Fund from their surplus or the surplus generated through organizing Cultural Programmes/similar events. I appeal to other Regional Councils/Chapters to take similar initiative for this cause of benevolence. .

Publications

During the year following publications were brought out by the Institute

Basic of Mutual Fund Investment

Referencer on Reconciliation of Share Capital Audit

Referencer on Certification of Securities Transfer

SEBI (ICDR) Regulations – A Quick Referencer

Capital, Money and Commodity Market – Terms One Should Know

Internal and Concurrent Audit of Depository Participants

Role of Company Secretary in Capital Markets

Referencer on Transfer Pricing

Referencer on E-Forms

Role of CS in CG

Gender Diversity in Boardrooms

Responsibly Managing e-waste

Sustainable Reporting

Referencer on XBRL

Guidance note on Passing of Resolutions through Postal Ballot

Mergers, Acquisitions and Takeovers- Law & Practice

41 Years of Chartered Secretary on CD ROM

Way Forward

Collectively, we have adopted a vision “To Be a Global Leader in Promoting Good Corporate Governance”. It was in this direction, I have been emphasizing in my previous communications, on quality, values, ethics, training, time management, ownership, responsibility, professional independence, professional synergies, attitude, vision and foresight. These indeed are the mantra for success in an environment where public scrutiny is sharper than any other thing. Therefore, I once again re-emphasize that the strength of our profession is in the hands of each one of us and let us work together to make it more stronger, following the core values enshrined in the ICSI Vision 2020.

Acknowledgements

No one walks alone and when one is walking on the journey of life just where do you start thank those who joined you, walked beside you and helped you along the way. I wish to express my sincere gratitude to –

Shri Sachin Pilot, Hon’ble Minister of State for Corporate Affairs (I/C) for the support extended to the Institute.

Dr. M. Veerappa Moily, the then Hon’ble Union Minister of Corporate Affairs for his blessings and support.

 

I take immense pleasure in thanking Shri Naved Masood, Secretary, Ministry of Corporate Affairs, Shri U K Sinha, Chairman, SEBI, Shri Sudhir Mital, the then Additional Secretary/Special Secretary, Shri Avinash Kumar Srivastava, Additional Secretary, Mrs. Renuka Kumar, and Shri Manoj Kumar, Joint Secretaries, MCA, for their guidance and support in the growth and development of the profession.

I also wish to thank the officers/officials of various Ministries and Offices of the Central Government, particularly the Ministry of Corporate Affairs, Ministry of Finance, Ministry of Commerce and Industry and SEBI, Stock Exchanges, RBI, IRDA, CBDT, CBEC and other regulatory authorities for their help, guidance and support in development of the profession and encouraging the activities of the Institute during the year.

I place on record my thanks to various State Governments, Financial/Industrial/Investment Institutions/Corporate Sector, various Chambers of Commerce, Trade Associations and other agencies in general in availing the services of members of the Institute and in recognizing their expertise.

My thanks to Jury Members of the ICSI National Award for Excellence in Corporate Governance led by Hon’ble Mr. Justice M N Venkatachalliah, former Chief Justice of India for sparing their valuable time in adjudging the Awardee companies.

I would like to thank my Central Council Colleagues for their help, co–operation in the growth and development of Profession. I am also thankful to my Colleagues in Regional Councils and Chapters for extending their whole hearted support and cooperation.

I am equally thankful to my predecessors for their valuable support and guidance as and when required.

Words are inadequate in offering my sincere thanks to each and every member of Team ICSI for their commitment, dedication and zeal in achieving highest quality of results under the dynamic leadership of Shri N. K. Jain, who led this premier institution with tremendous dedication, commitment and administrative acumen for about a decade as Secretary & CEO.

I express my heartfelt thanks to my office colleagues, friends and relatives for their help and good wishes. I am grateful to my wife Ghazala, daughter Firdaus and son Nehal, who inspired, encouraged and fully supported me to discharge my responsibilities as a President of this great Institute.

ONCE AGAIN WISHING YOU A VERY HAPPY AND PROSPEROUS NEW YEAR 2013

With kind regards,      Yours sincerely

           

New Delhi

January 1, 2013



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