Vadodara: After formulating the governance code for gram panchayats, The Institute of Company Secretaries of India (ICSI) is now in the process of formulating a governance code for municipal corporations of the country.
Amit Narendra Kuumar Jain, chairman of ICSI’s Western India Regional Council (WIRC) informed this to media persons on Sunday on the sidelines of Gujarat state conference that was organised on the theme of ‘Unlocking changing dimensions of Companies Act, 2013’.
Last year, Prime Minister Narendra Modi had released the model governance code for meetings of gram panchayats prepared by ICSI during golden jubilee year celebrations of the institute.
“Now, we are in the process of forming a model governance code for all municipal corporations. Presently, different civic bodies follow different procedures when it comes to meetings, preparing minutes of the meetings and formation of sub-committees,” he said.
Like, the governance code of gram panchayats, which are presently voluntary for gram panchayats to adopt, the governance code for municipal corporations, too will be voluntary for the civic bodies for the time being.
Jain added that company secretaries (CS) are spreading their wings as more opportunities are coming their way in banking, insurance and other sectors of the economy.
“Earlier, the role of CS was limited to whether company laws are being complied or not. Now, they are not just involved in secretarial audit but also stock, internal and IT audit,” he said, adding that with introduction of GST, CS are being trained to become GST professionals.
“In the past only advocates used to appear in High Courts whenever there were hearings related to Companies Act, Now, CS have also started appearing in the National Company Law Tribunal,” he said.
Gujarat state conference was organised in the city on Sunday
