Institute of Company Secretaries of India
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The Institute of Company Secretaries of India (ICSI) is the organisation set up under an Act of Parliament, i.e., Company Secretaries Act, 1980, for the regulation and development of the profession of company secretary in India. As per the proviso to Section 203 of the Companies Act 2013 read along with rule 8 and 8A of companies (appointment and remuneration of managerial) rule 2014, all companies having a paid up capital of Rs.5 crore or more are mandatorily required to appoint a full-time company secretary and as per section 204 all listed companies and public companies having a paid up share capital Rs 50 crore or more and turnover of 250 crore or more are required to procure a secretarial audit report from a Practicing Company Secretary which has to be annexed to the Directors' Report along with the annual accounts. Thus there are two areas in the career: whole-time employment and whole time practice. The Institute, being a pro-active body, focuses on best and top-quality education to students and best quality Set Standards for members.
ICSI has also issued various notes and is also organizing various lectures on Companies Act to make its understanding simpler and easier.
A company secretary, being a principal officer and key managerial personnel in the company is an expert of various laws. He is chief advisor for corporate law to the board Of directors. He or she conducts a secretarial audit in the company, that covers his independent opinion on various laws like labour laws, company law, environmental laws, securities law and other concerned laws to the company.
Membership[edit]
There were 29,000 ACS and 6,900 FCS members registered with the ICSI as of August 2015.
