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There is no shortage of company secretaries: ICSI

Our Bureau New Delhi | Updated on July 02, 2019 Published on July 02, 2019

Several corporates rue that CSs are not willing to take up jobs at private companies

The Institute of Company Secretaries of India (ICSI) has made it clear that there is no shortage of company secretaries (CSs) willing to serve the corporate sector.

This assertion comes even as several corporates rue that CSs are not willing to take up jobs at private companies, where appointing one is now a must in certain situations.

The Ministry of Corporate Affairs (MCA) had, as part of its efforts to weed out shell companies, introduced a new e-form, the INC-22A (ACTIVE), requiring details on active companies and their registered offices. The form also requires details on the CSs of entities that are mandated to hire them.

However, it was contented that the number of CSs falls short of the number of companies mandated to hire them. Also, in the wake of such shortage, the CSs are demanding high salaries, it was pointed out.

Market-determined pay

The ICSI has now clarified that there is no shortage of CSs and that their salaries are market determined. There is also a placement cell in the institute to coordinate recruitment, it said in a statement here.

Further, over the past few months, there has been no immediate surge in their pay packages, it added.

ICSI President Ranjeet Pandey said corporates must hire CSs not merely as a ‘tick-box’ initiative but as an attempt to perfect their efforts in attaining the goals of good governance, “which shall go a long way in achieving the vision of New India 2022”.

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Published on July 02, 2019
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