Career as a Company Secretary

One of the outstanding creations of the modern economy is the company form of doing business.

This is the form of business which has created its own niche in the faculty of legal sciences, management and philosophy. One such profession is that of the Company Secretaries.

Company Secretaries are the Principal Officers of the company holding the post as advisor to the Board of Directors in respect of legal matters arising out of any corporate decisions.

To the society at large, he is responsible for the legal compliance with all the provisions of Company Law and other applicable legal provisions.

Primarily a Company Secretary is the compliance officer of the company in respect company law, tax laws, labour laws, economic laws, and the list is expanding day by day.

He is also a major countributory in the decision making process in the corporate sector. Companies Act, 1956 casts a big responsibility on Company Secretaries making them as “Officer in default”.

During the recent years, due to the rapid growth of the corporate sector there is a tremendous need for the services of company secretaries.

There is a huge gap between the demand and supply of the company secretaries. This write-up is an effort to give the brief information to the aspiring candidates for this profession.

In India the profession of Company Secretaries is regulated by the Company Secretaries Act, 1980.

An institute called the Institute of Company Secretaries of India has been set up by the Government of India for the regulation of the profession.

Membership of this Institution is a necessary qualification for venturing into this profession.

The Institute and the Regional Councils

The management of the Institute of Company Secretaries of India (ICSI) is entrusted with a Central Council which consists of elected Senior Members of the Institute.

The working is done with the help of four Regional Councils set up at the four metropolitan towns of India like Kolkata, Mumbai, Chennai and Delhi. These Regional Councils are the focal points for the aspiring candidates for the profession.

To help the students the Regional Councils have set up Chapters at different parts of the India.

Each Regional Council has well equipped libraries, training faculties and coaching facilities for the benefit of students.

Regular seminars and workshops are organised under the auspices of the Regional Councils for students as well as for Members.

The Course

The Course leading to the company secretaryship is divided into three phases as follows :

• Foundation Program;
• Executive Program;
• Professional Program.

There is a unique blending of law, management and accounting coupled with soft skills like drafting skill, analytical skill in the whole curriculum.

The rigorousness of the course is intended to turn out competent professional to take up the position in the higher echelon of the corporate hierarchy.

Foundation Program

This is the entry point for the course. Any candidate who has passed the Senior Secondary (10+2) on equivalent examination of a Board/University constituted by law in India or any examination recognised by the Central Government as equivalent thereto can apply for the Foundation Programme.

The following subjects are taught in the program:

1. English and Business Communication;
2. Economics and Statistics;
3. Financial Accounting;
4. Elements of Business Laws and Management.

The students have to undergo either the postal coaching conducted by the Institute or the oral coaching organised by the Chapters/Regional Councils. Only after successful completion of the coaching, the Coaching Completion Certificate is granted to the students.

On the basis of this certificate, a student can appear in the examination conducted twice in a year-in the months of June and December.

There is a cut off date in respect of completing all the formalities before appearing for the examination.

Executive Programme

After passing the Foundation Programme, a student may enroll himself for the Executive Programme. Candidates possess-ing graduate/post graduate qualifications can directly enroll without undergoing the Foundation Programme subject to certain conditions.

The Executive Programme is modeled in two modules with the papers as follows:

Module-I

General and Commercial Laws;

Company Accounts, Cost and Management Accounting;

Tax Laws

Module-II

Company Law;

Economic and Labour Laws;

Securities Laws and Compliances.

The students have to satisfactorily undergo either the postal coaching or oral coaching organised by the Chapters/Regional Councils.

Apart from undergoing the coaching, each student has to undergo compulsory computer training organised by the Regional Councils/accredited IT Institutes.

On completion of all the formalities, student will be issued the Coaching Completion Certificate.

After clearing all the formalities, student has to appear for the examination conducted twice in year.

Professional Program

After passing the Executive Programme, the student has to register for the Professional Programme. The programme is modeled in four modules with the papers as given below:

Module-I

Company Secretarial Practice;

Drafting, appearances and Pleadings

Module-II

Financial, Treasury and Forex Management;

Corporate Restructuring and Insolvency

Module-III

Strategic Management, Alliances and International Trade;

Advanced Tax laws and Practice

Module-IV

Due Diligence and Corporate Compliance Management;

Governance, Business Ethics and Sustainability

The requirement of completing the coaching is same as that of the Executive Programme. Students have to appear in the examination after completing all the formalities. On passing the examination, one part of the entry into the profession is cleared.

Career as a Company Secretary