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Our Bureau

Bangalore, June 14 The Institute of Company Secretaries of India (ICSI) has urged the Government to incorporate secretarial standards formulated by it into the proposed new company law.

ICSI, which is currently working on three more standards to smoothen the process of corporate governance, has already formulated six standards that dwell on essential procedural issues relating to board meetings, dividends and transfer of shares and debentures.

While the standards specify many time lines that were not prescribed by the Company Law, ICSI asserted that these standards only complemented the existing provisions of the Company Law.

ICSI has formulated a preliminary draft of the three new secretarial standards, which after evaluation by the Council of the Institute would be open for suggestions and comments.

Addressing a press conference here on Saturday, Mr Keyoor Bakshi, President, ICSI, said that secretarial standards will help in brining more clarity in certain areas where the law was either silent or ambiguous.

The standards also interpret these provisions correctly for stakeholders’ reference.

Mr Bakshi said ICSI has set up a group to study the training programme to give more focus on soft skills for the trainees to cope up with the challenges of communication and interaction with the corporate leaders.

Mr N.K. Jain, Secretary and CEO, said that Association has taken several steps, which includes opening offices in 135 cities with facilities to counsel aspiring students to take to company secretary’s profession.

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ICSI urges Govt to incorporate standards in proposed company law

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