Sunday, Mar 06, 2005
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By Our Staff Reporter
CHENNAI, MARCH 5. The Institute of Company Secretaries of India (ICSI) wants the Centre to empower practising company secretaries to issue labour law compliance certificate to companies. Such a move, according to R. Ravi, the newly elected President of the ICSI, would help the government overcome the limitations of its machinery in ensuring better compliance with the laws and help companies improve their performance in this area. "The government is receptive to the idea," he told press persons here. It would also be in tune with the growing emphasis on outsourcing and help the government, especially in the backdrop of "severe violations" of labour laws, added N. K. Jain, the Secretary of the ICSI. The certificates from the company secretaries would form part of the annual report of companies. Underlining the need for widening the role of company secretaries, who from April 1 would get to certify companies for their corporate governance, Mr. Ravi said the ICSI was also in talks with the Centre seeking permission for the establishment of multi-disciplinary firms. The Institute, the ICSI leaders said, was also working on a `Model Companies Act'. It was in the process of launching a post-membership qualification course in corporate governance. It also saw a role for company secretaries in mutual funds, if the government initiated measures to attract investments from retail and rural investors.
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