December 13, 2017

Dear Students,

Sub: Rechristening the ICSI

As we all know, our alma mater – The Institute of Company Secretaries of India, was incorporated as a Section 25 Company under the then Companies Act, 1956 way back in 1968 and later converted into a statutory body by an Act of Parliament [No.56 of 1980] to regulate and develop the profession of Company Secretaries.

The role of a Company Secretary began in the nature of form filing and preparation of minutes etc. and subsequently evolved to include ensuring statutory and regulatory compliances. However, the role and responsibilities of a CS has undergone a sea change during the last decade or so and consequently Company Secretaries have established themselves as professional(s) in a number of fields – be it Corporate Laws, Corporate Governance, Compliance Management, stakeholders relationship, managing IPOs and handling other Capital Market and Corporate Actions, functioning as Corporate Strategists and as Insolvency Professionals and Valuers, handling ADRs/GDRs, leading Mergers & Amalgamations, handling direct and indirect taxes, arbitration & conciliation, and so on.

The role of a CS has become even more significant and critical one after the advent of the Companies Act, 2013 which recognises the CS as a Key Managerial Personnel (KMP) amongst Managing Director, Chief Executive Officer and Chief Financial Officer. Further, Company Secretaries today engage themselves, not only with corporates, but also with diverse and multiple organisations – be it government agencies including MCA, SEBI, RBI, CBDT, CBEC, IBBI etc. or non-government organisations including trusts and societies etc.  Keeping in view these and other contemporary developments taking place, the ICSI of late has been focussing on larger perspective and thus broadening its efforts to encompass National Governance as well.   

In the background of the foregoing, suggestions have been cropping up from time to time to rechristen the Institute of Company Secretaries of India as the Institute of Chartered Secretaries of India or Corporate Secretaries of India or some such name so as to make it more relevant to the much wider and much more significant role being played by the members of the Institute. Since the Institute is already engaged in an advanced stage of proposing to the Central Governments certain amendments in the Company Secretaries Act and the Regulations made thereunder, the time is considered apt to simultaneously propose a change in the nomenclature of the ICSI as well.

Accordingly, and in order to have the views of the students at large in the matter, you are requested to offer your considered views in regard to the above suggestions for rechristening the ICSI; and the apt nomenclature as early as possible, but by 22^nd December 2017 at email sanjeev.dogra@icsi.edu.  The suggestions so received will be placed before and received the deserved attention by the appropriate Committee.

Thanks and regards,
Yours sincerely,

CS (Dr.) Shyam Agrawal

President