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An important member of a corporate management team is the Company Secretary, who assists the efficient management of a corporate body. The role of the Company Secretary is that of an advisor to the management of the company with regard to legal and business matters. It is a statutory requirement that all companies with a paid up share capital of a minimum of Rs. 50 lakhs are required to appoint a Company Secretary. Company secretaries find employment at senior posts with the Government of India, and on the panel of bodies such as the Bureau of Public Enterprises, State Government Financial Institutions, and Stock Exchanges , and in Grades 1 to 4 in the accounts branch of the Central Government Law services of the Department of Company Affairs, as specialists in the fields of finance, law, accounts, and merchant banking of nationalized banks. Qualified company secretaries can also join academics, as lecturers in universities. Company Secretaries carry out a vast range of services for the company. Some of the major services include : incorporation of the company, management of the public issue, processing of applications for management appointments, remunerations, inter-corporate investments and loans, conducting of meetings of the Board of Directors, maintenance of records, registers and minutes of meetings. Company secretaries also handle all matters concerning corporate law, central / state sales tax and excise laws, and labour laws. Obtaining of institutional finance, project approvals, permits or licences under FERA (Foreign Exchange Regulation Act), advising on requirements relating to the MRTP Act (Monopolies and Restrictive Trade Practices Act) with reference to certain trade practices, are also other areas that a company secretary would be expected to handle. Besides, as the authorized official of the company, the Company Secretary signs the annual returns of the company. Membership of the Institute of Company Secretaries of India (ICSI) is the only prescribed qualification for entry into this profession. Membership is granted on the basis of the examinations conducted by the institute. There are three sets of examinations conducted by the Institute - the foundation course examination, the intermediate and the final examination. A student is also required to have practical experience and undergo practical training during the course studies, in order to qualify for the examination.
Eligibility:
The ICSI conducts training programmes, in the nature of compulsory postal tuition, to enable students to qualify for the examination. Students are also provided with study material on each subject at the time of admission. The prescribed subjects include business communication, business laws and management, principles of accounting, economics and statistics.
Duration:
Examinations are held in June and December every year, at 36 centres, spread across the country. A student has to register for each of the examinations at least nine months prior to the month in which the examination is held. During the period of the final course students have to undergo management apprenticeship / training in a recognized company or with a practising company secretary. The postal training programme leaves candidates ample time to garner practical experience which is an integral part of the study programme for company secretaries. Those who have passed the final examination are also required to fulfil some other training requirements before they become eligible for admission to the Associate Membership of the ICSI, which entitles a candidate to start practising. This means they should possess at least 12 months of full-time management / apprenticeship training in a recognized company or under a registered practising company secretary. In addition, they are required to undergo four months practical training in a company recognized by the ISCI, 15 days training in the office of the Registrar of Companies or Stock Exchange or equivalent, and 15 days secretarial modular training imparted by the ICSI. The entire process of training for a career as a Company Secretary is conducted by the Institute of Company Secretaries of India, ICSI House, 22,Institutional Area, Lodhi Road, New Delhi. The institute has 4 regional offices at Calcutta, Delhi, Chennai, and Mumbai. In addition, there are 4 regional councils under their jurisdiction, and 36 chapters located in various cities.
A sound business sense; academic ability; excellent inter-personal skills; a flair for numbers; common sense; logical mind; ability to negotiate with people at all levels in an organization.
Company Secretaries can find employment in the following areas:
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