Company Secretary is a senior position in a private company or public organization, normally in the form of a managerial position or above. In the United States it is known as a corporate secretary and in India it is known as Company Secretary.
The Company Secretary is responsible for the efficient administration of a company, particularly with regard to ensuring compliance with statutory and regulatory requirements and for ensuring that decisions of the Board of Directors are implemented.
Despite the name, the role is not a clerical or secretarial one in the usual sense. The company secretary ensures that an organization complies with relevant legislation and regulation, and keeps board members informed of their legal responsibilities. Company secretaries are the company's named representative on legal documents, and it is their responsibility to ensure that the company and its directors operate within the law. It is also their responsibility to register and communicate with shareholders, to ensure that dividends are paid and to maintain company records, such as lists of directors and shareholders, and annual accounts.
ICSI :
The Institute of Company Secretaries of India (ICSI) is constituted under a 1980 Act of Parliament, the Company Secretaries Act (Act No. 56 of 1980). ICSI is the only recognized professional body in India to develop and regulate the profession of Company Secretaries in India. The Institute of Company Secretaries of India awards the certificate bestowing the designation of Company Secretary (CS) to a candidate qualifying for the membership of the Institute. It was in 1960 that the Company Law Board started a course in Company Secretaryship leading to the award of Government Diploma in Company Secretaryship. As the number of students taking up the Company Secretaryship course grew, the Government promoted on 4th October, 1968, Institute of Company Secretaries of India under Section 25 of the Companies Act, 1956 for taking over from the Government the conduct of Company Secretaryship examination. The Institute of Company Secretaries of India (ICSI) has since been converted into a statutory body w.e.f. 1.1.1981 under the Company Secretaries Act, 1980. ICSI has on its rolls 21,042 members including 3,523 members holding certificate of the practice. The number of current students is over 1,50,000 and the requirement of CS is more.
ICSI has its headquarters at New Delhi and four regional offices at New Delhi, Chennai, Kolkata and Mumbai.
As per the Companies Act 1956, if the company is having more than Rs. 5 crore of paid up share capital, it is mandatory to appoint a full time Company Secretary, and if company has a paid up capital of Rs. 10 lakhs and more but less than Rs. 5 crores, it has to file with Registrar of Companies a compliance certificate from a Practising Company Secretary.
A student can pursue a course with The Institute of Company Secretaries of India to become a qualified company secretary. The institute is a premier professional body instituted under an Act of Parliament, namely, the Company Secretaries Act, 1980 (Act No 56 of 1980) to develop and regulate the profession of company secretaries in India.
Roles played by Company Secretary
- A Company Secretary acts as a mediator between the company, its board of directors, stakeholders, government and regulatory authorities
- A Company Secretary is a professional, who has expertise in corporate laws, capital markets, security laws and corporate governance.
- He/She is the one who advises Board of Directors on the kind of practices to be adopted in corporate governance.
- A Company Secretary is an important official who ensures that best management practices and work ethics are followed to create wealth creation for the company.
- He/She is the one who represents the company for internal and external stakeholders, co-ordinates the policies of the company and management function, guides on the strategic decisions for the betterment and growth of the company like merger, acquisition and joint collaboration.
A Company Secretary should ensure the well-being and growth of the company, its Board of Directors and all Stakeholders
- A Company Secretary should make sure that the procedure for appointment of directors is followed properly. He/She should also ensure that the newly-appointed directors have a proper induction and special training organized, if the need be.
- He/She should also provide all types of support and guidance to the directors, helping them in
discharging their
duties. - A Company Secretary should ensure that all statutory and regulatory requirements are properly complied with. They play a key role in ensuring that the decisions of the Board on the whole are properly implemented and communicated within the organization. They should advise the company and its board of Directors on business ethics and corporate governance.
- A Company Secretary should also ensure that the interest of the stakeholders are safeguarded and should communicate with them on regular basis.
COMPANY SECRETARY: JOB DESCRIPTION & ACTIVITIES
Job description
- A Company Secretary is the person who is responsible for organizing board meetings, informing board of directors about the impending meeting, formulating the agenda of the meeting with Chairman and/or Chief Executive, compiling the minutes of the meeting and maintaining minute books.
- A Company Secretary has to ensure that Annual General Meetings (AGM) are held as per the Companies Act and the companies' Article of Association. He/She is responsible for issuing notices of meetings, distribution of proxy forms, helping directors update themselves and getting prepared in case any shareholder ask questions, helping directors prepare briefing material and ensuring that security arrangements are done for the meeting. During the meeting, they have to ensure that proxy forms are processed properly, voting is carried out properly and recording the minutes of the meeting.
- A Company Secretary has to ensure that the Memorandum and Articles of Association is properly complied with. In case any amendments are issued, they have to make sure that they are implemented in the right manner.
- He/She had to make sure that company complies with the Yellow Book requirements and it properly implements the model code and/or company code regarding the company's securities. He/she has to maintain relations with Stock Exchange through company's brokers and he/she is responsible for relaying information regarding the company to the market.
- He/she is responsible for maintaining the statutory registers regarding the members, company charges, directors and secretary, directors' interests in shares and debentures, interests in voting shares and debenture holders.
- Company Secretary is responsible for filing annual reports, amended Memorandum and Articles of Association, return of allotments, notices of appointments, removal and resignation of directors and the secretary, notices of removal or resignation of the auditors, change of registered office and resolutions in accordance with the Companies Act with the Registrar of Companies.
- They are responsible for the publication of the company's annual report and accounts.
- They have to maintain the company's register of members, deal with questions of the shareholders and transfer of share-holding etc.,
- They have to regularly communicate with shareholders – both individual and institutional -- through circulars and notices, and ensure the payment of dividends and interest. They have to keep an eye onregister of members in case any stakeholder is aiming at taking over the company.
- He/She has to play a key role in implementing acquisitions, disposals and mergers. They have to make sure that proper documentation is in place and proper commercial evaluation is done.
There is ONE entry levels for this course.
1. A student pursuing the course after 10 + 2/Senior Secondary/intermediate/Degree/PG has to start from CSEET (Company Secretary Executive Entrance Test) level
2. A student starting the pursuit after graduation (10 + 2 + 3) need to clear CSEET (Company Secretary Executive Entrance Test) Level.
CSEET (Company Secretary Executive Entrance Test)
[4 papers of 50 marks each.]
EP - Executive Programme
[8 subjects arranged into 2 modules to
PP - Professional Programme
[9 subjects arranged into 3 modules
of 3 papers of 100 marks each.]
Licenciate ICSI
Temporary Status till membership is acquired.
(This is not a kind of membership)
Pre Membership Training
The 16 month training includes
TOP - Training Orientation Programme for 5 days
ADP - Academic Development Programme for 25 hours
SMTP - Secretarial Modular Training Programme for 15 days
Associate Membership
Post Qualification Courses
[Optional]
“Application Form for verification of marks for CS Students”:
In terms of regulation 46 (2) of The Company Secretaries Regulations, 1982, as in force, a candidate can seek ‘Verification of Marks’ in any subject(s) of June, 2011 examination within one month from the date of declaration of results. The application for verification of marks should be made by interested candidates in the prescribed form (available at: http://www.icsi.edu/WebModules/LinksOfWeeks/MarksVerification.doc) on a plain paper, in candidate’s own handwriting together with requisite fee @ Rs.100/- per subject within one month from the date of declaration of results, i.e., upto and including 26th September, 2011 (25th September, 2011 being Holiday).
The application for verification of marks duly completed in all respects should reach on or before the last date, addressed to The Joint Director (Exams.), The Institute of Company Secretaries of India, C-37, Institutional Area, Sector 62, NOIDA – 201309 (U.P.). Candidates are advised not to club any other query/matter or remittance of fees along with his/her request for Verification of Marks to facilitate an early reply.
The response time to candidates’ requests for verification of marks is normally 3-4 weeks from the date of receipt of their applications in the Examination Deptt. of the Institute. After completion of verification process, outcome of the verification of marks is hosted on the Institute’s website: www.icsi.edu and the candidate concerned by entering his/her Roll No. or Student Registration Number can enquire about the status/outcome of his/her application. The candidates concerned are also individually informed about the outcome of their requests by post. However, if a candidate does not receive any communication by 20th November, 2011, he/she should write to the Joint Director (Exams.) giving relevant details –
(i) his/her name;
(ii) student registration number and Roll Number;
(iii) stage and module(s) of examination
(iv) name of the subject(s) in which verification of marks was sought;
(v) date of application and mode of its dispatch;
(vi) amount of verification fee and mode of its remittance, viz., Bank Draft No., date of issue of Bank Draft, Name of drawee bank;
(vii) complete postal address along with PIN Code;
(viii) e-mail id; and (ix) Mobile/ Telephone Number.
CS new batches start on
LEVEL - I: CSEET (Company Secretary Executive Entrance Test)
Batch I -> January (every year)
Batch II -> May (every year);
Batch II -> August (every year)
* ONLINE classes start from July
LEVEL - II: EXECUTIVE PROGRAMME - Group I
Batch I -> January (every year)
Batch II -> July (every year)
* ONLINE classes start from July
LEVEL - II: EXECUTIVE PROGRAMME - Group II
Batch I -> January (every year)
Batch II -> July (every year)
* ONLINE classes start from July
LEVEL - III: PROFESSIONAL PROGRAMME (CS Final Subjects)
Batch I -> March (every year)
Batch II -> August (every year)
Note: LIMTED STUDENTS in a BATCH
for Fees & other details call Ph: 9392 656567 / 9390 656567 or mail to vignancs@gmail.com
Branch Locations: SECUNDERABAD, KUKATPALLY & VIJAYAWADA
VIGNAN CS conducts classes for CS - CSEET (Company Secretary Executive Entrance Test), Executive Programme & Professional Programme (Final) in Ameerpet(SR nagar), Secunderabad branch, (Vijayawada - starts soon)