President and Finance Minister Commend Company Secretaries at ICSI’s 55th Foundation Day Celebration

In a prestigious event held in New Delhi, the President of India, Smt Droupadi Murmu, and Union Minister of Finance and Corporate Affairs, Smt. Nirmala Sitharaman, graced the 55th foundation day celebrations of the Institute of Company Secretaries of India (ICSI). The occasion witnessed the presence of eminent personalities from the corporate and governance sectors.

Addressing the gathering, President Murmu emphasized the multifaceted role of Company Secretaries, urging them to recognize their responsibility not only towards their legal obligations but also towards every citizen of the nation. She articulated that the corporate world’s role in resource management should be akin to trusteeship, with a spirit of service as their fundamental mantra. President Murmu encouraged Company Secretaries to embrace good corporate governance principles, resonating with Gandhiji’s philosophy of remembering the face of the poorest and most helpless.

President Murmu underscored the importance of ethics in business, stating that “Ethics in Business” is more critical than “Business Ethics.” She urged Company Secretaries to be vigilant watchdogs of corporate governance, ensuring that legal provisions meant to enhance ease of doing business are not misused.

Reflecting on India’s progress, President Murmu emphasized the significance of qualified, competent, courageous, and creative professionals. She asserted that the future of India’s corporate governance lies in the willpower and actions of Company Secretaries, who have the potential to make India a model of both ‘Good Corporate Governance’ and ‘Good Governance.’

In her address as the Guest of Honour, Finance Minister Sitharaman highlighted the government’s initiatives to promote Ease of Doing Business (EoDB), citing the removal of 39,000 unnecessary compliances and 1,500 archaic laws. She commended the role of Company Secretaries in building an ecosystem that has facilitated $230 billion worth of investments in the country over the last three years. The Finance Minister also appreciated ICSI’s decision to waive off registration fees for certain categories, including Agniveer, defense personnel, and families of martyrs.

As a gesture of support, ICSI handed over a cheque of Rs. 11 Lakh to the Finance Minister for the education of martyrs’ daughters under the Shaheed Ki Beti initiative.

Shri Manoj Govil, Secretary, Ministry of Corporate Affairs (MCA), acknowledged the pivotal role of Company Secretaries as compliance officers and their significant contribution to strengthening the governance framework of the country.

The event also featured addresses from CS Manish Gupta, President of ICSI, who highlighted the institute’s initiatives towards nation-building, and CS B. Narasimhan, Vice-President of ICSI, along with other council members and program directors. The celebration showcased the achievements of 55 glorious years of ICSI’s existence, affirming the institute’s unwavering commitment to building a robust governance culture in the country.

Team Lawctors

Team Lawctors

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