New company law gives more powers to CSes: Sachin Pilot
8 Nov 2013 11:15 PM GMT
Delivering the inaugural address at the Institute of Company Secretaries of India’s (ICSI) 41st National Conference, he noted that company secretaries play a larger role in the form of a chief governance officer and are the compliance officers in a corporate set-up. ‘The governance has assumed centre-stage not only in India but across the globe and sooner the members of company secretaries will be elevated as chief governance officers and governance professionals.’
After the passage of the New Companies Act, company secretaries will get more powers, observed Pilot. ‘With greater power comes greater responsibility and the need of the hour is to be unbiased and fair in giving your views. You must be doing justice to your profession,’ he added.
‘Company secretaries have to ensure the interest of stakeholders, shareholders employees, creditors of the company. Company secretaries as a community are an effective tool to implement the new Company Law. Good corporate governance requires efficient regulatory support and effective implementation of tools,’ explained Pilot.
After the passage of the New Companies Act, company secretaries will get more powers, observed Pilot. ‘With greater power comes greater responsibility and the need of the hour is to be unbiased and fair in giving your views. You must be doing justice to your profession,’ he added.
‘Company secretaries have to ensure the interest of stakeholders, shareholders employees, creditors of the company. Company secretaries as a community are an effective tool to implement the new Company Law. Good corporate governance requires efficient regulatory support and effective implementation of tools,’ explained Pilot.
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