Career as a Company Secretary is not only prestigious and financially rewarding but also carries with it a high level of job satisfaction.
“The Institute of Company Secretaries of India” (ICSI) is a premier National Professional body established by Act of Parliament to develop and regulate the Profession of Company Secretaries.
The Company Secretary is:
- An in-house legal expert; a compliance officer of the Company.
- An expert in corporate laws, securities laws & capital market and corporate governance
- Chief advisor to the board of directors on best practices in corporate governance
- Responsible for all regulatory compliances of company
- Corporate planner and strategic manager
ROLE OF A COMPANY SECRETARY
A Company Secretary being multidisciplinary professional renders services in the following areas:
Corporate Governance and Secretarial Services
- Corporate Governance Services
- Corporate Secretarial Services
- Secretarial/ Compliance Audit and certification Services
Corporate Laws Advisory and Representation Services
- Corporate Laws Advisory Services
- Representation Services
- Arbitration & Conciliation Services
Financial Market Services
- Public Issue, listing and Securities Management
- Takeover Code, Insider trading, Mergers & Amalgamation
- Securities Compliance and Certification Services
- Finance & Accounting Services
- Taxation Services
- International Trade & WTO Services
Management Services
- General/ Strategic Management
- Corporate Communication and Public Relations
- Human Resources Management
- Information Technology
EMPLOYMENT PROSPECTS
A qualified Company Secretary has openings in Employment and as Practising Independent Professional
Company Secretary in Employment
- Company Secretary has been recognized as Key Managerial Personnel along with the Chief Executive Officer/managing director/manager, whole-time director and Chief Financial Officer. (section 203)
- Being Key Managerial Personnel, Company Secretary is required to be mandatorily appointed in every company belonging to such class or classes of companies as may be prescribed.
- As per the Rule 8 of Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014, such prescribed class is every listed company and every other public company having a paid-up share capital of ten crore rupees or more shall have whole-time key managerial personnel.
- Also as per Rule 8A, i.e. Appointment of Company Secretaries in companies not covered under rule 8.—A company other than a company covered under rule 8 which has a paid up share capital of five crore rupees or more shall have a whole-time company secretary.
- Functions of the company secretary have been codified in the Companies Act, which include:-
- to report to the Board about compliance with the provisions of this Act, the rules made there under and other laws applicable to the company;
- to ensure that the company complies with the applicable secretarial standards;
- to provide to the directors of the company, collectively and individually, such guidance as they may require, with regard to their duties, responsibilities and powers; and
- to assist and advise the Board in ensuring good corporate governance and in complying with the corporate governance requirements and best practices;
- other specified functions
Company Secretary in Practice
Some of the important areas of recognition for Company Secretary in Practice include:
- Secretarial Audit
- Every listed company and (a) every public company having a paid-up share capital of 50 crore rupees or more; or (b) every public company having a turnover of 250 crore rupees or more shall annex a Secretarial Audit Report with its Board’s report given by company secretary in practice in Form No. MR-3;
- Pre-certification of e-forms;
- Duty to report fraud;
- Appointment as Administrator (Section 259);
- Company Liquidators (Section 275);
- Professional assistance to Company Liquidator (Section 291);
- Qualifications of Tribunal (Section 409);
- Adjudication of penalties (Section 454);
Company Secretaries in Practice also render services in the following areas:
- Legal, Secretarial and Corporate Governance
- Corporate Restructuring
- Foreign Collaborations and Joint Ventures
- Arbitration and Conciliation
- Financial Management
- Project Planning
- Capital Market and Investor Relations
- Due Diligence
- Corporate Advisory Services
- SEBI Act, SCRA and regulations made there under Depositories Act, 1996
- Exim Policy etc.
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