The Institute of Company Secretaries of India (ICSI) marked a groundbreaking moment as its council meeting, held on January 18, 2024, approved the introduction of an integrated program for the Company Secretary Course. This program is set to be conducted in collaboration with the National Institute of Securities Market (NISM), offering ICSI students the opportunity to partake in Joint Certification Courses focusing on ‘Corporate and Securities Markets Compliances’.
The decision underscores ICSI’s commitment to enhancing the educational offerings for aspiring Company Secretaries, fostering a comprehensive understanding of corporate and securities market compliances through this collaborative initiative with NISM.
During the 306th ICSI council meeting, several other significant decisions were made, including:
Approval of Revised Secretarial Standards: The council accorded approval to specify the Secretarial Standard on Meetings of the Board of Directors (SS-I) and Secretarial Standard on General Meetings (SS-2). These revised standards, approved by the Ministry of Corporate Affairs under Section 118(10) of the Companies Act, 2013, are set to be effective from April 1, 2074.
Approval of ICSI Report on NCLT Practices and Procedures: The council gave the green light to the ‘ICSI Report on NCLT Practices and Procedures,’ emphasising the institute’s commitment to staying abreast of developments and contributing to the discourse on corporate practices.
Development of Standard Operating Procedure (SOP): The council deliberated on creating a Standard Operating Procedure (SOP) for the Investigation, Search, Seizure, Interrogation, Detention, and Arrest of Company Secretaries. It further approved the constitution of a ‘Task Force’ dedicated to formulating and implementing this SOP.
Approval of ICSI-CCGRT Management Guidelines, 2024: The council approved the ICSI-CCGRT Management Guidelines for the year 2024, setting the framework for the functioning of the Company Secretaries’ Continuing Professional Development (CPD) wing.
Amendments in ICSI Chapter Management Guidelines, 2024: The council sanctioned amendments in the ICSI Chapter Management Guidelines for the year 2024, ensuring that the guidelines remain dynamic and aligned with the evolving needs of the organisation.
MoU with NBCC (India) Limited: Approval was granted for the execution of a Memorandum of Understanding (MoU) between ICSI and M/s NBCC (India) Limited. This MoU is intended for the turnkey execution of various projects by the Institute.
Priority Fixing for Chapter Premises Acquisition: The council accorded approval for prioritising the acquisition of premises for both the Kozhikode and Amravati chapters, emphasising the strategic expansion of ICSI’s physical presence.
These decisions collectively underscore ICSI’s commitment to advancing the standards of corporate governance, education, and professional development in the realm of Company Secretaries. The approved integrated program with NISM is expected to be a pivotal step towards creating well-rounded professionals in the field of corporate and securities market compliances.
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