“Discover how to navigate the challenging transition from being a trainee to the main Company Secretary. This comprehensive guide provides insights on reading before acting, creating checklists, seeking consultant advice, adopting a deliberate pace, keeping detailed notes, avoiding back-dated compliances, embracing automation, learning from history, staying in the loop, staying alert, accepting mistakes, and fostering confidence, trust, and belief. As a fresher, approach the role with unwavering confidence and embrace the journey of continuous learning.”
As we all would agree, our experience during the training days is invaluable. However, it’s important to recognize that what we learn during this period represents just a small fraction of our overall Company Secretaryship journey. Most of us have acquired only the basics during our training periods, such as MCA form filing, drafting minutes, issuing notices, crafting resolutions, and compiling annual reports. Some individuals working in listed companies gain exposure to listing compliances like quarterly filing with stock exchanges and SEBI regulations. A fortunate few even gain exposure to IPO processes, although often limited to the documentation level. Furthermore, during our training days, we collaborate closely with our seniors, and our work is overseen by managers.
In that case, are we truly prepared to assume the role of main Company Secretary in an organization immediately after completing our training? This question often plunges us into a significant dilemma and self-doubt regarding our ability to undertake the responsibilities of a COMPANY SECRETARY upon the completion of our training, especially considering that there won’t be anyone above us to review our work, as was the case during our training days.
Coming from a batch that required just 12 months of training after passing the CS professional exam, I found myself immersed in this thought process. Embarking on this adventure filled me with apprehension. As a novice, one particular aspect kept me awake at night: the PENAL Provisions under the Companies Act 2013 that applied to company secretaries, such as Sections 204, 205, 206, and 467, among others. The fear of missing a compliance requirement haunted me. After all, I’m only human – Insaan hu, galti mujhse bhi ho sakti hai 🙁 Can a company afford to risk non-compliance or delayed compliance with us, especially considering our relatively young experience as company secretaries?
These thoughts, these common fears, often plague freshers. But are they truly as intimidating as they seem? Is assuming the role of an independent CS immediately after training as risky as it appears? Let’s delve into a guide on how to navigate this situation:
READ BEFORE YOU ACT:
No matter how well-versed you are in provisions and compliances, it’s essential to consistently read the entire section along with the relevant rules and any other regulations pertaining to the matter.
For instance, consider a Buyback scenario. Begin by studying Section 68 of the Companies Act, and then delve into the associated rules. Additionally, explore the Income Tax Act to understand dividend distribution tax implications, provisions in FEMA related to buybacks, and any other applicable regulations or acts that could impact the proposed buyback.
READY WITH A CHECKLIST:
Before offering your opinion, ensure that you are content with your compliance checklist. Begin by creating a preliminary checklist, and then seek verification from your trusted network of acquaintances. Their input can provide valuable insights and strengthen your approach.
UTILIZE YOUR CONSULTANT:
Don’t hesitate to seek advice from your consultant. Companies are generally open to receiving opinions and guidance from consultants. Typically, they don’t charge for addressing minor queries. Nevertheless, it’s prudent to clarify with them whether there will be any charges for the assistance provided.
GO SLOW:
Here lies the crux – embrace a deliberate pace. Opt for measured, calculated steps. Steer clear of rushing and presenting lofty deadlines to management for assignments. Instead, allow a cushion of time. It’s wiser to lead a life of luxury than to relentlessly chase a speeding train. Allocate room for adjustments, should any repairs be needed along the journey.
KEEP NOTES OF EVERYTHING:
Jot down even the tiniest details. These notes will be your future helper. First tries tend to slip from memory. So, whenever you work on something, make separate notes about how you did it. These notes will be your handy guide later on.
SAY NO TO BACK-DATED COMPLIANCES:
If something’s overdue, don’t try to make it look current. Do the required work as of the present date. You don’t need to show off to your bosses. It’s good practice to stick to timely compliance.
EMBRACE AUTOMATION:
As we take charge, technology can be a big support. Automation keeps us organized and on schedule. Many compliance software options are out there, making work and deadlines easier to manage. You can suggest using such software for your management. It’s a smart move for a smoother workflow.
LEARN FROM HISTORY:
A big chunk, about 80%, of what we need to do is similar to what’s been done before. When you’re starting something fresh, spare a moment to review past records. See if a similar task has been done recently. If it has, check what documents were used and if there’s a checklist you can follow. It’s like a shortcut to success.
STAY IN THE LOOP:
Stay connected with fellow industry professionals. Join webinars, attend seminars, participate in study groups, and go to conferences related to your field. This way, you’ll stay updated on changes and industry trends. It’s like staying in the know.
STAY ALERT:
Stay alert and pay attention. If you sense that something needs to be done right, even if not said, speak up. If you think something isn’t right or management is trying to break the rules, don’t hesitate to say so. If you can’t agree, it’s okay to move on. Sometimes, companies might use new employees for things that aren’t right, so they can control them. Your honesty is important.
MISTAKES: A SIP FROM EVERYONE’S CUP:
Everyone messes up, and you’re no exception. Don’t let mistakes shake you up. They’re part of the journey. You’ll make countless errors, but what matters is learning and mastering the skill of fixing them. Learn how to patch things up – it’s like putting on a band-aid for mistakes.
CONFIDENCE. TRUST. BELIEVE:
For newcomers, the “I CAN DO IT” mindset is vital. Self-doubt smothers creativity and bravery. Approach everything with unwavering confidence.
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And that wraps it up from my end. Each of us embarks on a unique journey, gathering our own experiences along the way – this is what sets us apart. Don’t let self-doubt rob you of golden opportunities. Seize them, take the plunge, and then give it your all. Nobody starts off as a master; learning happens throughout the journey.
Wishing all aspiring professionals, the very best!!!
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