Institute of Company Secretaries of India
| Institute of Company Secretaries of India (ICSI) |
|
|---|---|
| Motto | In Pursuit of Professional Excellence |
| Formation | January 1, 1981 |
| Legal status | Body corporate established under the Company Secretaries Act, 1980 Act No. 56 of 1980 enacted by the Parliament of India |
| Objective | Regulate the Company Secretariel profession in India |
| Headquarters | New Delhi,  India |
| Coordinates | 28°37′40″N 77°14′32″E / 28.627815°N 77.242135°E |
| Region served | India |
| Membership | >25,132 |
| Students | >2,30,000 [1] |
| Member's designations | A.C.S. and F.C.S. |
| Official languages | English, Hindi |
| President | CS.Nesar Ahmad |
| Vice President | CS. S N Ananthasubramanian |
| Governing body | Council |
| Regional Offices | New Delhi (NIRC) Mumbai (WIRC) Kolkata (EIRC) Chennai |
| Website | www.icsi.edu |
The Institute of Company Secretaries of India (ICSI) is statutory professional body constituted under the Company Secretaries Act, 1980 (Act No. 56 of 1980) passed by the Parliament of India. ICSI is the only recognized professional body to develop and regulate the profession of Company Secretaries in India. The Institute of Company Secretaries of India awards the certificate bestowing the designation of Company Secretary (CS) to a candidate qualifying for the membership of the Institute. ICSI has its headquarters at New Delhi and four regional offices at New Delhi, Chennai, Kolkata and Mumbai.
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[edit] History
It was in 1960 that the Company Law Board started a course in Company Secretaryship leading to the award of Government Diploma in Company Secretaryship. As the number of students taking up the Company Secretaryship course grew, the Government promoted on 4 October 1968, Institute of Company Secretaries of India under Section 25 of the Companies Act, 1956 for taking over from the Government the conduct of Company Secretaryship examination. The Institute of Company Secretaries of India (ICSI) has since been converted into a statutory body w.e.f. 1.1.1981 under the Company Secretaries Act, 1980. According to ICSI's Annual Report for 2009-10, ICSI had 16,613 Associates and 5,226 Fellow Members aggregating to 21,839 Members on the Register of Members as on 31 March 2010. Out of these, 3,576 Members were holding Certificate of Practice as on March 31, 2010. According to the Annul Report, the number of current students is over 200,000 including 111,292 students registered for Executive Programme and 64,297 students registered for Foundation Programme.
[edit] Role of Company Secretaries
Membership of ICSI has been recognized for appointment to various superior posts and services under the Central Government. The affairs of the ICSI are managed by a Council consisting of fifteen elected members and five nominees of the Central Government. Pursuant to section 383A of the Companies Act, 1956, companies having a paid-up share capital of Rs 5 crore or more, as prescribed by the Central Government, are statutorily required to appoint a whole-time Company Secretary.
The major contribution of Company Secretary (CS) is in corporate sector. Company Secretary (CS) is an important professional aiding the efficient management of the corporate sector. Company Secretary (CS) is designated as an officer under the Companies Act. Company Secretary (CS) has to interact, coordinate, integrate and cooperate with various other functional heads in a company. A member of the ICSI may also practise independently as a professional after obtaining a certificate of practice as provided in the Company Secretaries Act, 1980.
Thus there are two areas in the career viz. in whole time employment and whole time practice.
As per the Companies Act 1956, if the company is having more than Rs. 5 Crore of paid up share capital, it is mandatory to appoint a full time Company Secretary, and if company has a paid up capital of Rs. 10 lakhs and more but less than Rs. 5 Crore, it has to file with Registrar of Companies a compliance certificate from a Practising Company Secretary.
[edit] Membership
Membership of The Institute of Company Secretaries of India(ICSI) has been recognized for appointment to various superior posts and services under the Central Government. The affairs of the Institute of Company Secretaries of India (ICSI) are managed by a Council consisting of fifteen elected members and five nominees of the Central Government. Pursuant to section 383A of the Companies Act, 1956, companies having a paid -up share capital of Rs 5 crore or more, as prescribed by the Central Government, are statutorily required to appoint a whole-time Company Secretary. The major contribution of Company Secretary (CS) is in corporate sector. Company Secretary (CS) is an important professional aiding the efficient management of the corporate sector. Company Secretary (CS) is designated as an officer under the Companies Act. Company Secretary (CS) has to interact, coordinate, integrate and cooperate with various other functional heads in a company. A member of the Institute of Company Secretaries of India(ICSI) may also practise independently as a professional after obtaining a certificate of practice as provided in the Company Secretaries Act,1980.[2]
[edit] The Institute has MoU with various institutions
The institute has mutual recognition agreements with ICWAI and ICSA
[edit] Code of Conduct
There is a dramatic increase in the expectations of members, students and other stakeholders that all those who are vested with policy/decision making should act and conduct themselves as per certain ground rules of ethical conduct. The purpose of this Code is therefore, to lay down certain ground rules to promote ethical conduct and good practices and to deter wrong-doing. The purpose of the Code is also to make the relationship mutually pleasant and productive and to enhance the sense of community with common values and mission. Further Code of Conduct shall be a step towards ethical decision making in which strategic management decisions result from due deliberations and objective analysis of facts, distanced from personal biases, leanings, subjectivity or emotional perceptions. The matters covered in this Code are of utmost importance to The Institute of Company Secretaries of India (“Institute”), its members, students and other stakeholders including Government , Regulators, Trade and Industry and other users of services of the Company Secretaries.
The Code is designed to assist in defining appropriate personal and professional conduct, to provide guidance in the identification and resolution of ethical issues, and to help the members of the Council and the members of the Senior Management of the Institute to maintain the culture of honesty, integrity, transparency and accountability.
[edit] External links
[edit] Reference
- ^ http://www.icsi.edu/AboutUs/AbouttheICSI/tabid/1892/Default.aspx
- ^ http://www.icsi.edu/AboutUs/AbouttheICSI/tabid/1892/Default.aspx
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