In order to have uniformity in the practices adopted by different companies, the Institute of Company Secretaries of India (ICSI) has released 10 secretarial standards, recommending the Government to make them mandatory for all companies, a to p official said on Saturday.
“We have made recommendation to the Government that all the ten secretarial standards (issued by ICSI ) should be made mandatory for all companies so that there is uniformity in the practices and procedures followed by companies,” ICSI President Mr Vinay ak S Khanvalkar told reporters here.
So far, two of the secretarial standards concerning General Meetings and Board Meetings find place in the new Companies Bill, 2009, he said.
“These are areas where there is no clarity in law and the secretarial standards seek to bring in more clarity besides recommending good governance practices,” he said and hoped the Government will make the secretarial standards mandatory.
Reacting on the Companies Bill, 2009, Mr Khanvalkar said “We as Company Secretaries see lot of opportunities under the new Bill.”
Mr Khanvalkar said ICSI would set up one more state-of-the-art training centre to conduct programmes for students, members and directors at Hyderabad which would cater to the Southern part of the country.