Role of a Company Secretary in Global Environment

[Pages:30]Role of a Company Secretary in the Global Environment

Presented by: C.S. Nesar Ahmad Immediate Past President: Institute of Company Secretaries

of India (ICSI) &

Corporate Secretaries International Association (CSIA) Founder President: Uniserve Knowledge Foundation president@

INTRODUCTION

Historically CS role has been of a Compliance officer related to Secretarial compliances, Statutory compliances and Due diligence and audit

Due to the various changes and introduction of various new laws like he enactment of Depositories Act, 1996, Companies (Amendment) Act, 1996, Take over code, Securities have (Amendment) Act, 1995, changes in securities contracts (Regulation) Act, 1956, increased powers to SEBI, Forex Management, foreign collaboration and joint venture agreements, have all activated the corporate sector to a large extent due to which the role of CS has evolved over these years and continues to evolve due to changes.

INTRODUCTION

Due to globalization The Corporate sector has recognized the role of company secretaries. Corporate managements are constituted by corporate executives of multi discipline professionals having dynamism and vision for the effective role of moulding and shaping the corporate sector under any demanding situation.

INTRODUCTION

With the increased professionalization of corporate management in the context of modern corporate culture, company secretaries play a key role in guiding and shaping the distinct corporate entity, engaging him. He is often looked upon as a Senior Management Professional who is expected to discharge a wide range of responsibilities.

INTRODUCTION

In a decentralized and liberalised economic and legal environment, the role of a company secretary assumes greater significance and arduous responsibility.

A company secretary is no more now a company law secretary. Though compliance of corporate laws is an important function of a company secretary, his role does not commence and end with mere compliance of laws.

C S under Companies Act, 1956

As per Section 2(45) of the Companies Act, 1956,

y a secretary means a Company Secretary within the meaning of Section 2(1) ( c) of the Company Secretaries Act, 1980 i.e. a member of ICSI.

y He must possess the prescribed qualifications and;

y Shall perform the ministerial and administrative duties.

Legal Position of a C S

Duties of a C S

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