Finance Minister Smt. Nirmala Sitharaman celebrates 53rd Foundation Day of the ICSI

Company Secretaries should look beyond their existing set of responsibilities and partner with the Ministries and the Regulatory Authorities in easing compliances for the tax paying citizens. This was said by Union Minister of Finance & Corporate Affairs Smt. Nirmala Sitharaman at the 53^rd Foundation Day celebrations of the Institute of Company Secretaries of India (ICSI).

Chief Guest and the Finance Minister, Smt. Sitharaman, appreciated the ICSI for attuning the celebration with Azadi Ka Amrit Mahotsav and choosing the theme “Powering Atmanirbhar Bharat through Entrepreneurship and Innovation” in tandem with this vision.

The Finance Minister expressed her delight while complimenting the Company Secretaries for their commendable job during the COVID-19 pandemic and further urged the youth of the country to join this profession as this role will expand further in the future in Sunrise Sector.

The commemoration also witnessed the presence of Dr. T.V. Somanathan, Finance Secretary & Secretary, Department of Expenditure, Ministry of Finance, Government of India and Shri Rajesh Verma, Secretary, Ministry of Corporate Affairs, as guests of honour.

Dr. T.V. Somanathan complimented the Institute for doing a remarkable job in promoting Good Corporate Governance in the last 53 years. While discussing about the importance of the role of Company Secretaries he said, “You are the experts of compliances and your exemplary advice will help corporates in getting rid of extra compliance”.

Shri Rajesh Verma lauded the efforts of Company Secretaries in providing every assistance to the Ministry for various incorporations and other services to the stakeholders. Shri Verma also mentioned that “ICSI has been instrumental in providing valuable suggestions for bringing necessary amendments in the Companies Act, LLP Act and formulation of BRR Committee Report”.

On this momentous occasion, the ICSI launched its 5^th Overseas Centre in Australia at the hands of the Finance Minister, Smt. Nirmala Sitharaman, reaffirming the progression of the profession and the evolved role of the Institute in global Corporate Governance arena. The Institute also launched a publication, Referencer on SEBI (Share based employee benefit and sweat equity) Regulations 2021.

Elated to be a part of this glorious journey of ICSI, CS Nagendra D. Rao, president, the ICSI, emphasised on taking forward the recovery and the re-growth process to build a strong and resilient economic system that will be dominant in the world. He mentioned that “the focus of the Institute in the near future will be upon: Skill Based Development; Usage of Technology; Globalisation of the Profession; Research & Skill Development Centres & Propagation of Governance Standards build by ICSI”.

CS Devendra V Deshpande, Vice-President, the ICSI, highlighted on the various collaborations undertaken by the ICSI. He further added “Let us go beyond our recognition of KMP & become professionals with holistic approach and provide solutions to all stakeholders.

CS Ranjeet Pandey, Past President, ICSI, in his address shared the glorious journey of 53 years of the ICSI.

The second half of the celebration continued with a thematic Panel Discussion on “Powering Atmanirbhar Bharat through Entrepreneurship and Innovation”. Distinguished panelists comprised of Mr Deepak Bagla, MD & CEO, Invest India; Mr Bejon Kumar Misra, International Consumer Policy Expert and Founder, Consumer Online Foundation; Mr Yadvendra Tyagi, Founder ENKASH and Mr Narendra Kumar Shyamsukha, Founder & Chairman, ICA Eduskills, who all gave excellent insights on Entrepreneurship and Innovation ecosystem in India.