The Institute of Company Secretaries of India (ICSI) issued a press release calling for stronger corporate governance and deeper board-level accountability in light of the recent IndiGo-related governance lapse. Emphasizing the need for robust oversight, ICSI stated that effective governance is essential for preparedness, accountability, crisis management and stakeholder trust. The Institute highlighted the importance of independent boards, proactive risk management, and transparent communication, urging companies to align board processes to ensure timely intervention and stakeholder protection. ICSI further stressed the critical role of Company Secretaries in facilitating ethical and sustainable governance practices. Its leadership reiterated that the incident serves as a reminder for companies and professionals to maintain sound governance frameworks that safeguard long-term value and public trust. The press release also reaffirmed ICSI’s commitment to promoting best practices and called on corporates to revisit their structures to ensure continuous governance responsibility.
Company Secretaries of India
IN PURSULT OF PROFESSINAL EXCELLENCE
Statutory body Under an Act of Parliament
(Under the jurisdiction of Ministry of Corporate Affairs)
Chief of Bureau
9 December 2025
ICSI calls for stronger Board Oversight and Governance following the Indigo incident
In view of the recent governance lapse highlighted by the Indigo incident, the Institute of Company Secretaries of India (ICSI) has called for an urgent need for strengthened corporate governance practices across India Inc., following the Government’s strong sentiment on the recent IndiGo incident.
Underscoring the need for a deeper accountability at the Board Level, the ICSI reiterated that besides being fundamental to compliance, robust governance ensures preparedness, accountability, and crisis responsiveness.
Reiterating the vital role of independent boards, effective risk management and vigilant stakeholder oversight, the ICSI urged Companies to align their board processes in the interest of all stakeholders and enable proactive risk identification, timely intervention and transparent communication.
Reaffirming the vital role of Company Secretaries in enabling ethical, accountable and sustainable corporate conduct, CS Dhananjay Shukla, President, the ICSI, said, “the incident serves as a reminder for Corporates and Professionals to ensure sound governance frameworks that can create as well as preserve shareholder value along with public trust”.
Stressing upon the ICSI’s commitment to advancing best practices in promoting good governance, CS Asish Mohan, Secretary, the ICSI, stated that, “Corporates should revisit their structures and processes in the interest of stakeholder protection and long-term sustainability, because Corporate Governance is a continuous responsibility”.
Preeti Kaushik Banerjee
Joint Secretary
The Institute of Company Secretaries of India
Tel: 011-4534 1022
Email: preeti.banerjee@icsi.edu
About ICSI
The Institute of Company Secretaries of India (ICSI) is a premier professional body set up under an Act of Parliament, i.e., the Company Secretaries Act, 1980, for the regulation and development of the profession of Company Secretaries in India. It functions under the jurisdiction of the Ministry of Corporate Affairs, Government of India. The Institute, being a pro-active body, focuses on top-quality education for students of the Company Secretaries Course and sets the best quality standards for CS members. The Institute has over 78,000 members and about 2.5 lakh students on its roll.
