Hyderabad, Apr 25 UNI | 3 months ago

Institute of Company Secretaries of India (ICSI) President R Sridharan today said the demand for company secretaries in the country is increasing and needs to release more graduates to meet the demand.

As many as 2,000 graduates are completing the company secretary examinations every year, but the demand is much more, he said in a press conference here.

In the recent placements mela held in New Delhi, fresh company secretaries were hired by corporates and institutions with an annual salary package ranging from RS 8.5 lakh to 15 lakh, he claimed.

The Delhi-headquartered Institute have four regional councils at Chennai, Delhi, Kolkata and Mumbai and 70 chapters including on chapter at Dubai, he said over the past few years, the Institute has been registering more than one lakh students to the foundation, executive and professional programms of the CS course.

The institute was concerned about the new rule in the Company Secretaries Act 2013 that mandates the appointment of a company secretary only for listed companies and public companies with a paid-up capital of over Rs 10 crore, he said.

He said 92 per cent companies are private sector and 8 per cent in public sector

Private companies, which constitute 92 per cent of the active companies, have no specific requirement for a company secretary, he said and added the institute had represented the matter to the Ministry of Corporate Affairs, which has assured that necessary amendments would be made.

He, however, did not think that the new rules would render some company secretaries jobless.

The institute has introduced some changes in the examination for students, including a computer-based examination for the foundation programme from June this year.

The institute switched to online enrolment for the examination last October, he said.

The second Centre of Excellence building is coming up at Uppal in Hyderabad and already laid the foundation stone for the first one at Ajmer in Rajasthan jointly promoted by ICAI, ICSI and ICAI (cost), he added.

(Posted on 26-04-2014)