Dear Members and Students of ICSI,
The Council is extremely pained at the provisions in rules notified under the Companies Act, 2013. It shares the concerns of the members and students fully.
The rules are substantially different from the draft rules. The draft rules provided for applicability of certain critical provisions of the Companies Act, 2013 to all companies, private or public. The notified rules have excluded private companies from application of those provisions of the Act.
These drastic changes have impaired severely the profession, its 35000 members and more than 4 lakh students.
The Council is in dialogue with the concerned authorities. It has received assurance of reconsideration of the rules relating to annual return (section 92), appointment of company secretary (section 203), secretarial audit (section 204) and pre-certification of e-forms. The representations made to Ministry of Corporate Affairs are available on the web site of the Institute.
It is our endeavour that we would not leave any stone unturned to secure justice for our members and students. But we must have patience and follow up the matter with calmness. We must not do anything untoward which can damage the process of restoration of our prospects.
I seek your co-operation.
Note – ICSI has already made 5 representations which can be checked on on its website.