Millennium Post

ICSI playing pivotal role in Make in India: Binani

Institute of Company Secretaries of India President Mamta Binani   informed that the Company Secretary is ‘The Professional’ who acts as a marathon runner from the Start to the Finish line for a Start-Up. 

A Company Secretary is responsible for beginning the Start - Up business in terms of incorporation, advising the right outfit for the business and then taking the business to the next level. The role of a company secretary in a Start-up can be equated to a mentor responsible for developing a sapling into a tree, she added.

The Institute of Company Secretaries of India’s (ICSI) course is such that the Members are well equipped with the knowledge of laws and are experts in compliances and have acquired the role of a business manager because of their acumen to understand business and the framework of doing business.  In this dynamic environment, no learnings can remain fresh. Institute has a very robust mechanism to continuously provide capacity building workshops and programmes which further hones their skills. This enables our professionals to remain ever contemporary and maintain pace.

President, Binani states that ICSI played a pivotal role in the Government of India's mega event 'Make in India' Week held at Mumbai from 13-18 February, 2016 at the MMRDA Grounds, Bandra-Kurla Complex, Mumbai. The members of ICSI were playing an important role at the Ministry of Corporate Affairs (MCA) Pavilion.

At the MCA Pavilion, Company secretaries helped the stakeholders to form their companies on the spot and guided them with their business outfits and were consulted by angel investors, joint venture partners, investors from abroad on varied subjects like Companies Act, Corporate Restructuring, LLP, FEMA, Listing Regulations, Agreements like Joint Venture, Scheme of Arrangements and Compromise etc. She took pride in mentioning that as a contribution to the Nation, the senior company secretaries offered to provide the services at zero professional fee. She also mentioned that MCA has taken very bold initiatives to service its stakeholders, the recent one being the Central Registry System for name approvals at Maneswar.

ICSI takes pride in having a made a significant mark in this Make in India Week with over 5000 visitors at the Ministry of Corporate Affairs stall.

ICSI also brought out various knowledge Booklets on incorporation of Companies in the form of informative brochures and publications which were distributed among the visitors and were well appreciated. It was in English, Hindi and in Marathi. 

Visitors also made use of the Touch Panels exploring various provisions of Companies Act, 2013. 

Queries were also received from start-ups seeking government approvals, funding from government and guidance on expansion of businesses. They were informed about the need and method of preparing and evaluating a business plan.
Queries regarding CSR provisions under the law were also answered. E-forms for incorporation of companies were filed on the spot by Practising Company Secretaries. Queries relating to conversion of LLPs into company, raising of finance for expansion, list of annual compliances, procedure for revival of defunct companies, best suited business models for manufacturing companies, incentive available for setting up of agriculture companies were answered by the Company Secretaries.
The CS Professionals also provided information to foreign Nationals from Germany and UK, who showed keen interest on setting up of Business in India, various Business models available and formalities required.
The President ICSI, Mamta Binani stated that ICSI has always been and are partners in Nation Building. Company Secretaries are always there to offer whole hearted active support to the Government of India in its endeavours. Her message to the stakeholders for success of Make in India is 'Together We Can......Together We Will!'
The MCA Pavilion also witnessed the gracious presence of Shri Arun Jaitley, Hon’ble Union Minister for Finance, Corporate Affairs and I&B, Shri Tapan Ray, Secretary, MCA, and Shri P.K Malhotra Secretary, Law & Justice and many more dignitaries.
On her maiden visit as a President to the function of the Northern India Regional Office, President, ICSI launched e-Library for its members to provide free access to Online e-library to provide knowledge resources to its members and to keep them abreast with the latest happenings in the field of Corporate Laws. This digital initiative particularly assumes a lot of significance keeping in mind the changes in Company Law and the Digital India drive made by the Hon’ble Prime Minister of India.

President, ICSI informed that the ICSI e-library available on consists of Case Laws (with head notes), Wealth of intellectual knowledge in the shape of Articles by experts, Procedures under Company Law, Resolutions, Queries and their Replies by experts, Notifications and Circulars of various Ministries / Departments, Updated legislations etc. The e-library is updated on daily basis with facility of daily updates.
President ICSI emphasized the use of technology to upgrade the skills of its members. ICSI aims to map the technology with the vision of ICSI to give value to all the stakeholders.
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