A Company Secretary in the set-up of corporate sector plays the role of a mediator between the company, its board of directors, stakeholders, government and regulatory authorities. A Company Secretary should make sure that board procedures are regularly revised as per the need and that they are strictly adhered to by all concerned. A Company Secretary has to play the role of a guiding force for the Chairman and Board of Directors to enable them to make wise decisions for the growth of the company. A Company Secretary is a professional who guides the company and its Board of Directors on any legal matter, acquisitions or mergers.
According to the Companies Act, 1956, every company, which has a paid-up share capital of Rs two crore and above, have to appoint a full-time Company Secretary. Since a Company Secretary plays a pivotal role in the growth of the corporate sector, many institutes have mushroomed in the country which offers courses in Company Secretary Ship. The Institute of Company Secretaries of India (ICSI) is the only institute recognized by the Government of India, which has played a key role in promoting the profession of Company Secretary through its courses.
A candidate aspiring to become a Company Secretary has to go through three levels of company secretary scourses and a rigorous training schedules. Three levels of a Company Secretary Courses are:
The Company Secretary Courses broadly cover subjects like English, Economics, Financial Accounting, Business Communications, Business Environment, Corporate Restructuring, Management Information Systems, Banking and Insurance, World Trade Organization, Corporate Secretarial Practice, Company Law, International Trade, Human Resources Management and Industrial Relations, Joint Ventures and collaborations and commercial law.
After the company secretary candidate passes the final course, he/she has to undergo a five-day Training Orientation Program, which precedes the actual training of 15 months. The 15-month training is followed by a practical training, which is of three-month duration. In practical training, the company secretary candidate has to work with a company or an independent company secretary practitioner as an intern to get hand-on knowledge and training about the roles and responsibilities of a company secretary. It is followed by 15-day training with the Registrar of Companies, financial or banking institutions or stock exchange to know their nitty-gritty. Then there is a 15-day Secretarial Modular Training Program. Some of those company secretary candidates who are exceptionally brilliant or have had good practical experience could be partially exempted from training or their training period could be reduced.
With India going global and corporate sector getting all geared up to compete with their counterparts across the world, there is tremendous scope for growth of company secretary and company secretary courses. With the companies going global, there are more complexities involved in running an organization as compared to the past and a company secretary plays a key role in giving appropriate advice on corporate, legal, administrative, secretarial and tax-related matters.
A Company Secretary could either get a government job in accounts or law departments or could get attached to a corporate sector and even rise to the post of Chairman or Managing Director or even be a member of the Board of Directors in the private sector. Though an average Company Secretary would get the starting salary of at least Rs 10,000, sky is the only limit for the brilliant and exceptional Company Secretaries.
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