President of the Institute of Company Secretaries of India (ICSI), Shayam Agrawal, spoke at length about the role and scope of the company secretary in view of the growing industrialization across the country, particularly the forthcoming mega Delhi-Mumbai Industrial Corridor (DMIC) project in the city.
Aurangabad: Talking to media after attending a seminar for ICSI students organized by the ICSI Aurangbad Chapter here, he said that a company secretary is the backbone of any industry and plays a vital role in various establishments.
In view of rapid industrialization happening across the country with a number of multi-national companies setting their offices in India and also the upcoming DMIC project in Aurangabd, there is ample opportunity for the company secretary course and it will gain significance in future.
As per the Indian Companies Act, it is mandatory to appoint a full-time company secretary in companies having a turnover of Rs five crore or more or listed on the stock exchanges of the country.
The company secretary will play an important role in advising the company on direct and indirect taxation, labour laws, international laws and merger issues, Mr Agrawal said.
Talking about the Institute, he said that ICSI is a reputed institute in India, which was formed under the Law of Parliament That is the Company Secretaries Act, 1980 and has been providing professional education since past 3 decades.
Its focus is on imparting the best and top-quality education to students of company secretary course and best quality set standards for CS members, Mr Agrawal informed. ICSI has 50,000 members and around four lakh students on its roll, he added.