Business Daily from THE HINDU group of publications
Tuesday, Feb 05, 2008
ePaper | Mobile/PDA Version
Business Daily from THE HINDU group of publications Tuesday, Feb 05, 2008 ePaper | Mobile/PDA Version |
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Marketing
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Advertising Corporate - Company Law Company secretaries allowed to advertise services
Out of 21,500 secretaries, 30% are in practice and the rest in employment. A professional or firm cannot make any claim of superiority over contemporaries in the ad. Richa Mishra New Delhi, Feb. 4 Beginning January 1, company secretaries in practice have been allowed to advertise their services not only in India but also abroad by the Institute of Company Secretaries of India (ICSI). However, the professionals will have to comply with guidelines prescribed by the Institute, as any non-compliance or violation of these guidelines would be deemed to be an act of professional misconduct and the concerned member would be liable to disciplinary proceedings under the Company Secretaries Act. Currently, there are over 21,500 company secretaries out of which about 30 per cent are in practice and remaining are in employment. “Advertisement by professionals has till now not been allowed as it was being considered as self-promotion rather than marketing their work. However, in the emerging globally competitive market for professional services, a need was felt to allow the members to advertise their services. “Besides preparing the professional for meeting competition, it will also give the prospective clients a wide range of choice,” Mr Keyoor Bakshi, President of the Institute of Company Secretaries of India (ICSI), told Business Line. The guidelines prescribed by the Institute also stipulate that a company secretary in practice — a member who holds a certificate of practice issued by the Institute — cannot make any false or misleading claims in the advertisement. Besides, the advertisement will not be sensational or otherwise of such nature, which would bring disrepute to the profession. It also restricts the professional or the firm from making any claim of superiority over their contemporaries. Ms Preeti Malhotra, immediate Past-President of ICSI, said “The council of the Institute, which met on December 29 approved the guidelines, which deal with the manner in which a company secretary in practice can advertise the services provided by him or his firm and the particulars of his firm through a write up. “Allowing the professionals to advertise would benefit the small firms, who would be able to give details of services they are offering, making it cost effective for the overseas clients.” The professional or the firm will have to give a declaration stating that all facts about the services are accurate. There should also be a disclaimer that ICSI has no responsibility over the contents of the advertisement by the individual professional or firm. The advertisement format for the professionals and firms could include details about willingness and unwillingness to accept work in certain areas, fees, names of clients and services rendered, speed of service and honours received, in addition to other primary details about the individual or the firm. More Stories on : Advertising | Company Law
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