Wednesday, May 27th, 2020

It has become imperative for professionals like company secretaries to acquire cutting-edge knowledge

INVC NEWS Hyderabad ,

The Vice President of India, Shri M. Venkaiah Naidu has said that strong foundation in ethical values should be the basis for exemplary corporate governance. He was addressing the gathering after inaugurating the Institute of Company Secretaries of India (ICSI) Centre of Excellence, in Hyderabad today. The Deputy Chief Minister of Telangana, Shri Mohammad Mahmood Ali and other dignitaries were present on the occasion.

The Vice President said that it has become imperative for professionals like company secretaries to acquire cutting-edge knowledge and skills that are not only in tune with the best practices but also facilitate and promote good corporate governance. He further said that India with its inherent spiritual strength, rich traditions and strong value systems - which form the core of many family-run businesses - can emerge as a role model for other countries in corporate governance. The practitioners of corporate governance should play a leading role in making India a global leader in their field, he added.

The Vice President said that money laundering through shell companies is one of the menaces that affect the economy of a country. He commended the decision of ICSI to sensitize all its members and other stakeholders on the deleterious impact not only of the shell companies but also of shell NGOs. He also commended the decision of making ICSI employees to wear khadi one day a week and to have a corporate anti-bribery code in a voluntary manner.

The Vice President said that a company secretary is not only the conscience-keeper of an enterprise, but he/she also has a larger social responsibility. He further said that they have to constantly update themselves with the changes in the laws for proper guidance of the management and other stakeholders. With the implementation of GST, they should be well equipped to deal with the challenges arising from its implementation, he added.

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