2nd ICSI CORPORATE GOVERNANCE WEEK  CULMINATES  AT   NEW DELHI

The Institute of Company Secretaries of India (ICSI) observed the 2nd ICSI CORPORATE GOVERNANCE WEEK on the theme ‘Good Governance For Sustainability’, from August 27th  to August 31st   2012 across the Country. The idea behind the ICSI Corporate Governance Week is to create awareness, propagate the best practices of corporate governance and mainstream corporate responsibility in the social fabric.

ICSI 2nd CORPORATE GOVERNANCE WEEK PROGRAMME INAUGURATION

Dr. M Veerappa Moily, Hon’ble Union Minister for Corporate Affairs & Power, Inaugurated the 2nd ICSI CORPORATE GOVERNANCE WEEK  today at New Delhi  .

Dr. Veerappa Moily in his inaugural address complimented the Institute of Company Secretaries of India for this initiative and said that ICSI has always demonstrated its commitment to corporate governance and is playing a leaders role in promoting good corporate governance practices amongst corporate India . Dr. Moily said that governance is the character and corporate civilisation will face disaster if there is lack of good governance as “Good Governance is effective leadership, transparency & accountability.”

He further added that reputation of  corporates contributes 75%  to success of Good Governance  . Dr. Moily briefed about the National Policy on  Corporate Governance which is being drafted by committee headed by Mr. Adi Godrej and Mr. Nesar Ahmad ,President, The Institute of Company secretaries of India  is the convener & member secretary .

Dr. Moily ensured that the New Companies Bill 2011 will be passed soon  and will be instrumental in  enlightening  the regulator environment for better sustainability . He once again stressed on the need for economic stability & progress intertwined with Corporate Social Responsibility .

Mr. Sunil Kant Munjal, Joint  Managing Director ,Hero Motorcorp Ltd, while delivering his key note address  complimented ICSI for initiative to observe the ICSI Corporate Governance Week 2012 and observed that there is no single individual who can work without honouring  the environment .He said that governance of Countries, Families and Societies is a reflection of accepted norms. He added that a Company Secretary is a conscience keeper not just to  the corporate but also to themselves. He expressed that there is need build ability and trust and in this there is need  to create simple rules that are easy to understand and simple to follow . He said that people are the best asset of an organisation which appreciates with experience & exposure and the people include not just people within the organisation but also around the company. He concluded that sustainability is the collective responsibility of all of us.

Mr. U Venkataraman ,CEO –Currency Derivatives Segment and Whole Time Director ,MCX Stock Exchange delivered the Special Address  and said that the Role of Stock Exchanges and institutional investors is vital in ensuring  good governance . Institutional investors can act as whistle-blower, he said.  He emphasised that the industry’s  best practices should be showcased at the same time deterrents   and penalties should be placed for misgovernance. He emphasised on striking a balance of mere compliance and earnest disclosure.”

CS Nesar Ahmad , President ,The Institute of Company Secretaries of India (ICSI) informed that ICSI has been actively engaged in  its commitment to Corporate Governance and has played a pivotal role in bringing about awareness on various issues impinging upon Corporate Governance . He also informed that Good Governance has intensified  as an international movement .  He expressed that India has Corporate Governance from the Vedic Ages  and now what is needed is a hybrid approach where international practices need to be integrated with our vedic heritage. Mr. Ahamd once again emphasised that Good Governance is a Culture and a climate of Consistency, Responsibility, Accountability , Fairness, Transparency and effectiveness that is deployed throughout the business organization . He stressed upon that the essence of Corporate governance lies in promoting and maintaining integrity ,transparency and accountability in the higher echelons of management

CS P K Mittal, Council Member, The ICSI emphasised on the Role of Company Secretary  in Good Governance . He reiterated that , Company Secretaries, over a period of time, have developed themselves as professionals having core competence in corporate governance , As a part of  2nd ICSI Corporate Governance Week , the Institute organised  Five Mega Programmes at Bangalore, Hyderabad, Mumbai, Kolkata & New Delhi.

CS Rajiv Bajaj , Chairman Northern India Regional Council , while introducing the Theme of the 2nd ICSI Corporate Governance week 2012 said that, Good Governance for Sustainability has assumed considerable significance in domain of Corporate governance. Good Governance is vital for sustainability of nations, corporate and even families . Today the concerns with regard to environment, inclusive growth and the challenges posed by globalisation have brought to fore several emerging issues of corporate governance which need to be addressed.

CS N K  Jain, Secretary & CEO, The ICSI, delivered the Vote of thanks and informed about the Institute’s prestigious  publications released on the occasion of the 2^nd ICSI Corporate Governance at the hands of Hon’ble Union Minister for Corporate Affairs , Dr. M Veerappa Moily which are as follows:

Ø  Good Governance for Sustainability

Ø  Role of Company Secretaries in Good Governance

Ø  Sustainability Reporting for Sustainable Future

Ø  Gender Diversity in Board Rooms

Ø  Responsibly Managing e-waste

He Informed that ,in addition, a number of other programmes  were organized  on corporate governance, sustainability & sustainability reporting, integrated reporting, responsible investment, gender diversity, waste management, whistle blowing, risk management & governance, and Good Corporate Citizenship as well as furthering “Go Green” initiatives throughout the length and breadth of the country by the Regional Councils and Chapters of ICSI.

Sd/-

Dr. Amita Ahuja

Senior Director

(Public Relations & Corporate Communication)

The Institute of Company Secretaries of India

ICSI House, 22 Institutional Area

Lodi Road, New Delhi- 110 003

Telefax- 011 -24604756, Mob- 9717196255

Email: dprpp1@icsi.edu