The Institute of Company Secretaries of India (ICSI) is a premier professional body set up under an Act of Parliament, i.e., Company Secretaries Act, 1980, for the regulation and development of the profession of Company Secretaries in India. It functions under the jurisdiction of Ministry of Corporate Affairs, Government of India. The Institute, being a pro-active body, focuses on best and top-quality education to students of Company Secretaries Course and best quality set standards for CS members. The institute has over 53,000 members and about 4 lakh students on its roll.
ICSI Makes India Proud – Sets Guinness World Record for Largest Taxation Lesson
ICSI is the first Indian professional body to set the Guinness World Records for Lesson in taxation
The Institute of Company Secretaries of India (ICSI) has set Guinness World Record for Largest Taxation Lesson in Jaipur on 16th January, 2018 by making ICSI the first Indian Professional body to get into the Guinness World Record. This mega Programme on GST has entered the Guinness Book of World Record, registering 3738 people for the Largest Taxation Lesson.
ICSI presents 17th ICSI National Awards for Excellence in Corporate Governance &
2nd ICSI CSR Excellence Awards.
Shri Arjun Ram Meghwal, Hon’ble Union Minister of State for Water Resources, River Development & Ganga Rejuvenation and Parliamentary Affairs and Shri Arun Chaturvedi, Hon’ble Minister for Social Justice & Empowerment and Minority Affairs and Waqf, Government of Rajasthan presented the Certificate of Recognition to the winner companies at Jaipur recently.
The prestigious ICSI Lifetime Achievement Award was conferred on Shri Rahul Bajaj, Chairman, Bajaj Auto Limited for Translating Excellence in Corporate Governance into Reality.
ICSI Certificate of Recognition for Excellence in Corporate Governance were presented to Top three companies (in Alphabetical order):
1) Dabur India Limited
2) Hindustan Unilever Limited
3) Rural Electrification Corporation Limited
The 2nd ICSI CSR Excellence Awards were won by:
Ø Akzo Nobel India Limited
Ø Cholamandalam Investment and Finance Company Limited
Ø GAIL( India) Limited
ICSI also felicitated Shri JiteshKumawat,Lamba, Sarpanch, Lambakala Gram Panchayat for being 1st Gram Panchayat for adoptingICSI’s ‘Model Governance Code for Meetings of Gram Panchayats’
ICSI formulates ‘Code for Charity Governance’
The Institute of Company Secretaries of India while realising the gap in governance and understanding the need for transparency and full disclosure in such form of organizations has with the help of a dedicated core group, developed a Code titled the ‘Code for Charity Governance’.
The ‘Code for Charity Governance’ was recently released during the Golden Jubilee Year – 45th National Convention of Company Secretaries by Hon’ble Sadhguru, Founder,Isha Foundation. It comprises a total of nine (9) guiding principles. Each principle includes a set of guidelines which shall support the achievement of the core principle.
Golden Jubilee Year National Convention of Company Secretaries (45th National Convention)
The Golden Jubilee Year National Convention of Company Secretaries -45th National Convention of Company Secretaries on theme: “COMPANY SECRETARY: SHAPING NEW INDIA 2022 THROUGH GOOD GOVERNANCE” was inaugurated by ShriPinarayiVijayan, Chief Minister of Kerala on 22ndNovember, 2017at Thiruvananthapuram.SadhguruJaggiVasudev, Founder, IshaFoundation&Shri B. K Modi, Founder Chairman, Smart Group also graced the occasion and emphasised on the Role of Company Secretaries as Governance Professionals.
ICSI Signs MOU with the National Skill Development Corporation to equip over 1,00,000 CS students and public at large on GST
Prime Minister, Narendra Modi, while inaugurating the ICSI’s Golden Jubilee Year Celebrations on 4th October, 2017 at VigyanBhawanemphasised on the role of Company Secretaries in promoting and maintaining compliance and transparency in the Corporate sector. He desired that the institute and its stakeholders help in spreading awareness about the benefits of GST and taking it across the length and breadth of the country and provide their services as professionals who can cater to GST law. While touching upon New India 2022, Prime Minister Modi desired that ICSI should equip over 1,00,000 CS students/stakeholders on GST.
To achieve this objective, the Institute has signed an MoU with National Skill Development Corporation in the presence of ShriAnant Kumar Hegde, Union Minister of State for Skill Development & Entrepreneurship, President, The Institute of Company Secretaries of India and Shri Manish Kumar, MD & CEO of National Skill Development Corporation.
Golden Jubilee Year of The Institute of Company Secretaries of India(ICSI)inaugurated by Prime Minister Narendra Modi on 4thOctober, 2017
Prime Minister, Narendra Modi addressed a large conglomeration of Company Secretaries , CS Students, professionals and other distinguished dignitaries while inaugurating the Golden Jubilee Year of the Institute of Company Secretaries of India(ICSI) at VigyanBhawan.He complimented The Institute of Company Secretaries of India (ICSI) for attaining institutional excellence and being a torch bearer for the cause of Good Corporate Governance for the last 50 years.
The Prime Minister on this momentous occasion, urged the Institute and its stakeholders for selfless dedication towards attaining the Country’s vision of ‘New India’ while identifying the role of the Institute of Company Secretaries of India (ICSI) towards its major contribution in developing the Corporate Governance Framework and compliance mechanism for the corporate sector in the country.
On this historic occasion, Prime Minister launched ICSI’s Motto Song “Satyam Vada, DharmamChara”. A Special Cover issued by Department of Posts reminiscing ICSI’s Golden Jubilee Year was also released by the Prime Minister .
Company Secretaries recognised as “Registered Valuer”
A CS is now recognised as a “registered valuer” under the new valuation rules issued by the Ministry of Corporate Affairs. The notification of these rules – Companies (Registered Valuers and Valuation) Rules 2017- is expected to bring clarity regarding various aspects of valuation and registered valuersand have major impact on industry, professionals, stakeholders and Government as well.
ICSI’s International Footprints
MACS Adopts Secretarial Standards issued by ICSI Inclusive Growth
The Malaysian Association of Company Secretaries (MACS) has adopted Secretarial Standards issued by The Institute of Company Secretaries of India (ICSI) as the benchmark in development of their Secretarial Standards. It is a matter of pride that Indian Standards are being adopted by a foreign professional body in the course of formulation of their own similar standardsThe secretarial standards on meetings of board of directors and general meetings were approved by the Ministry under provisions of the Companies Act, 2013. These standards came into effect on July 1, 2015.
Ease of Doing Business
The ICSI is persistently supporting the Government of India in establishing and promoting good governance not only at national level but also globally.
The institute has extended its support to persons/companies overseas to guide and facilitate setting up of business in India. The High Commission of India in Kenya and Malaysia have placed the link of ICSI website to apprise the populace in respective countries with the ease and information on setting up business in India.
Corporate Anti-Bribery Code
The Company Secretaries as Governance Professionals have a substantial role to play in establishing, promoting and sustaining transparent and accountable governance. The ICSI has come up with “Corporate Anti-Bribery Code” that supplements the government’s initiative towards building a Corruption free New India by 2022. This Code is to be adopted voluntarily by the Corporate sector.
Governance Pearls from Ancient Vedic Wisdom
The vedic scriptures and their teachings are part and parcel of Indian culture form time immemorial, but due to lack of clear understanding their relevance appears to have faded in the modern age. The ICSI has brought out ‘Governance Pearls from Ancient Vedic Wisdom’, a book that highlights the learning from Vedic scriptures in common and simple language with practical aspects for implementation in modern era.
ICSI has Launched Model Governance Code for Meetings of ‘Gram Panchayats’
The Institute has taken various efforts and measures for the advancement of the governance in corporate world as well as spreading the governance paradigm to the grass root level. Taking further initiative on these lines, the Institute has come up with a “Model Governance Code for Meetings of Gram Panchayats” which seeks to prescribe a set of principles for convening and conducting meetings of Gram Panchayats and matters related thereto.
ICSI ‘Shaheed Ki Beti’Initiative
‘ICSI-Saheed Ki Beti’ is a visionary exemplary and sacred initiative of ICSI with an objective to fund the education of the daughters of our martyrs who defend the sovereignty of the Nation, even at the cost of their lives. ICSI, to support this cause, is discontinuing the practice of presenting memento/flower bouquet to dignitaries at various programmes organized by ICSI across the country, and instead, a Certificate will be issued to the dignitary acknowledging his/her benevolence for donating the cost of the memento towards, “Shaheed Ki Beti” fund.
Revised Secretarial Standards on Meetings of The Board of Directors (SS-1) and General Meetings (SS-2)
Revised Secretarial Standards on Meetings of the Board of Directors (SS-1) and General Meetings (SS-2) issued by ICSIwere released by Shri Arun Jaitley, Hon’ble Union Minister for Finance &Corporate Affairs, recently .
The revised SS-1 and SS-2 shall be applicable to all the companies (except the exempted class of companies) w.e.f. 1st October, 2017 and accordingly all Board Meetings (including meetings of committees of Board) and General Meetings in respect of which Notices are issued on or after 1st October, 2017 need to comply with the revised SS-1 and SS-2. The existing SS-1 and SS-2 are applicable to the Board Meetings and General Meetings held on or before 30th September, 2017
ICSI Study Centre in Port Blair
Institute has opened it’s51stICSIStudyCentre in Port Blair. This is the first ICSI study centreinAndaman and Nicobar Islands.50th ICSI Study Centre was set up in Dadar and Nagar Haveli recently.The Institute is setting up “ICSI STUDY CENTRES” for imparting quality education &other basic services to the ICSI students in association with universities / colleges. ICSI Study Centers are being set up in cities/locations where ICSI does not have it’s office. The respective department of the university/ college operate and manage the ICSI study Centre.
- The Institute has launched a Fee Waiver Scheme for students of Jammu & Kashmir and North Eastern States of India for CS Foundation/CS Executive Programme.
- Students from Arunachal Pradesh, Assam , Manipur , Meghalaya , Mizoram, Nagaland and Tripura, Sikkim and State of Jammu & Kashmir can avail this scheme.
- Study Centers in all 7 North Easter States.
- Classroom Teaching Fee Waiver Scheme for students of Union Territories (Puducherry, Dadra and Nagar Havell, Andaman & Nicobar Islands, Lakshadweep and Daman & diu) for CS Foundation/CS Executive Programme.
ICSI to Introduce International Corporate Governance Code
The Institute is acclaimed for constantly working towards excellence of Corporate Governance by it’s various efforts and measures being taken for the upliftment of the governance in corporate world.
Taking this thought process forward, The Institute of Company Secretaries of India (ICSI) has pioneered the conceptualisation of the ‘International Corporate Governance Code’ and is envisioning playing a lead role in corporate governance. By incorporating the ‘International Corporate Governance Code’, ICSI aims for it’s universal applicability which would serve as a measure to curb the scams and scandals globally in corporate world.
The draft on ‘International Corporate Governance Code’ has been placed on ICSI website www.icsi.edu, inviting suggestions from it’s members which needs to be sent at firstname.lastname@example.org latest by 16th August 2017.
Free Registration in CS Foundation/Executive Programme for The Students of NE States & Jammu & Kashmir: ‘Swavlamban-Samagr Shiksha,Samagr Vikas’
In line with the policy of Government of India for inclusive growth of all parts of the country, the Institute has formulated a limited time Fee Waiver Scheme for the students ofNE STATES (Arunachal Pradesh, Assam, Manipur, Meghalaya ,Nagaland, Tripura, Mizoram, Sikkim)&Jammu & Kashmir –‘SWAVLAMBAN-SAMAGR SHIKSHA,SAMAGR VIKAS’
The Institute as part of its social responsibility initiatives and alignment towards the initiatives of Government of India for inclusive growth of people from different parts of country is launching a FREE REGISTRATION IN CS FOUNDATION/EXECUTIVE PROGRAMME for students of NE STATES(Arunachal Pradesh, Assam, Manipur, Meghalaya, Nagaland, Tripura,Mizoram, Sikkim) &Jammu & Kashmir .The Free registration in CS Course, is expected to provide a window of opportunity to the youth of the North Eastern States&Jammu & Kashmir , to come to the mainstream. The Government of India is already making conscious efforts in improving the infrastructure in these areas and the Institute is doing its bit for the development of society at large.
ICSI Formally Adopts “Satyam Vada, Dharmam Chara” As ‘ICSI Motto’
ICSI formally adopts “Satyam Vada, DharmamChara” as “ICSIMOTTO” to mark the beginning of golden jubilee celebrations of ICSI and crossing 50,000th membership mark. The Institute formally adopts the golden quote from Taittiriyaupanishad, “SATYAM VADA, DHARMAM CHARA”– Speak the truth, Abide by the law” as ICSI Motto.
CS: A GST Practitioner
The Good and Services Tax or GST is the biggest indirect tax reform since 1947. A Company Secretary is well versed in law subject without any doubt by virtue of his academic knowledge and practical training. A Company Secretary can play an important role by being an advisor and facilitator for due compliance of laws to the general business community and corporate world as well. A Company Secretary is a Goods & Services Tax Practitioner and is eligible to undertake the following:
- Furnish details of outward and inward purposes
- Furnish monthly, quarterly, annual or final return
- Make deposit for credit into the electronic cash ledger
- File an application for amendment or cancellation of registration
The Institute of Company Secretaries of India has organised a number of Webinars to educate its stakeholders and keep them updated. The Webinar series on GST has covered issues like Migration, Transition, Valuation, Refunds.
ICSI Signature Award
In a major step forward, the Institute of Company Secretaries of India (ICSI) has instituted “ICSI Signature Award” for the topper in Bachelor’s Degree examinations in Commerce conducted by the Central, State Universities and specialized programmes/papers of Indian Institutes of Management (IIM) & Indian Institutes of Technology (IIT) in India.
The ICSI Signature Award will be awarded to the topper at the college/university/institute’s convocation.
The Institute of Company Secretaries of India (ICSI) conducts CS OLYMPIAD for 11th and 12th standard students appearing in the respective examinations in each academic year in schools across India. Last year CS Olympiad was conducted in September, 2016.
Initiatives for Students
Ø A Merit Scholarship Scheme through ICSI Students Education Fund Trust has been developed under which highly meritorious students will be granted monthly scholarships for three years subject to the passing the various stages of CS Course at the first available opportunity.
Ø Online facilities for syllabus switchover, claiming qualification-based paper-wise exemption, change of elective subject, etc have been made available on www.icsi.edu.
Ø The Institute has completely switched over to Online Mode for Registration of Students w.e.f. 1st January, 2014.
Ø The Institute has completely switched over to Online Mode for Examination Enrollment w.e.f. 1st October, 2013.
Ø A Grievance Solutions Cell has been established to look into the grievances of the students through a Grievance Portal and also through a dedicated E-Mail Id email@example.com.
Ø The syllabus of Foundation Programme, Executive Programme and Professional Programme have been revised.
Ø The Institute has also introduced Open Book Examination (OBE) system for the Elective Papers where student can select one subject out of five subjects and give an Open Book Examination for the same.
Ø OMR based Examinations and Computer-based Examinations are conducted for Foundation Programme Stage.
Ø OMR based Examinations for three papers under New Syllabus of Executive Programme .
Ø An online English Learning course has been launched . Students can register online for the same onwww.icsi.edu.
Ø The Study Materials are also available in PDF Format as well as E-Book form which can be downloaded by the students free of cost.
Ø 50% Concession in Registration and Examination Fee has been introduced for War Widows and Wards of Martyrs of military and para-military forces.
ICSI Launches Skill Development Programme for its Students
In an endeavor to develop advanced professional skills amongst the CS Students , The Institute of Company Secretaries of India (ICSI) has launched a “15 days Academic Program” which shall be applicable for all Company Secretaryship (CS) students who have passed/completed their Executive Program. The 15 days academic programme launched by ICSI is also an endeavor to be in line with the ‘Skill India’ initiative of the Hon’ble Prime Minister, which aims to equip the youth of India with all the necessary skills to become a competitive global workforce.
Ø The Institute has Launched PMQ Course in specialized subjects, namely, Banking Law and Practice; Insurance Law and Practice; Capital, Commodity and Money Market; Intellectual Property Rights – Law and Practice; and International Business – Law and Practice; Launched PMQ course in Competition Law and Restructured PMQ Course in Corporate Governance.
Ø The Institute has also launched a Course on Valuation.
Ø The workshops on Capacity building of professionals under the new Company Law are being organised by the Institute across the country.
Ø The Corporate Laws Committee of ICSI has identified topics for conducting Capacity Building Workshops on various aspects of the New Company Law. These topics are Secretarial Audit, NCLT, Restructuring and Insolvency, Valuation, Annual Return and e-forms.