Shri Salman Khurshid Says the Corporate Social Responsibility Should be imbibed into the Corporate Culture

Shri Salman Khurshid Says the Corporate Social Responsibility Should be imbibed into the Corporate Culture

Shri Salman Khurshid, Minister for Corporate Affairs, has said that Corporate Social Responsibility (CSR) is to be taken from ‘Company’s Vision’ to ‘Country’s Vision’. Inaugurating the 38th National Convention of Company Secretaries in Kolkata yesterday, he emphasized the role of Company Secretaries in corporate sector. Shri Khurshid said that CSR is no longer charity or philanthropy; instead it should be imbibed in the corporate culture that leads to responsible business. He emphasized the role of Company Secretaries in the companies. Referring that corporates are the cutting edge to economic growth, he spoke about the importance of corporate democracy, industrial democracy, stakeholder dialogue with the board, etc. He referred to Company Secretaries as centre point in not only advising and guiding the Boards of companies but also cautioning them against any mis-governance. Shri Khurshid said the injury to the company is an injury to the entire system and quoted the examples of Satyam Scam and Bhopal Gas Tragedy. The attitude and culture towards inclusive growth has to be inculcated and nurtured in all corporates, emphasized the Minister.

Shri Salman Khurshid welcomed the recommendations of Parliamentary Standing Committee on The Companies Bill, 2009 - which covers various aspects including Secretarial Audit, rotation of auditors, role of independent directors, etc. 

Addressing the 38th National Convention of Company Secretaries Shri R. Bandyopadhyay, Secretary, Ministry of Corporate Affairs, said that the Ministry of Corporate Affairs has got special attachment towards the Company Secretary profession. The upliftment of ‘Aam Admi’ is crucial for economic growth and the entire Ministry is working towards this direction, he stated. 

Shri Vinayak S. Khanvalkar, President, the ICSI, said that the Business Leaders are advised by professionals like Company Secretaries on various business issues such as Corporate Strategy, governance, disclosures, policy decisions etc. As the governance and sustainability initiatives are baseline of inclusive growth, the role of the Company Secretary in this respect have been substantially raised. He spoke about various ICSI Initiatives for members, students, etc.