42nd National Convention of Company Secretaries Technical sessions

42^nd National Convention of Company Secretaries

Technical sessions

At the 42^nd National Convention of Company Secretaries there were serious deliberations in the sessions for the day.  

Business Environment & Regulatory Changes : There was an interesting discussion on the topic which was chaired by Shri  P K Malhotra , Secretary Ministry of Law and Justice, Govt. of India, he said that “Change is constant and perpetual, the Change is one’s sphere of human endeavour leads to change in other spheres. The Guest Speakers at the session were CS Vinod Kothari, PCS, Kolkata, CS G S Gupta, Director, Emami Biotech limited, C S Pavan Kumar Vijay, MD, Corporate Professionals Capital Private Limited. CS Vinod Kothari stated that “There is a close continuous link between the business environment and regulatory actions and understanding of this relationship helps in strengthening the business and using its resources more effective”.

CS G S Gupta, Director, Emami Biotech limited, said that the business environment is multifaceted, complex, and dynamic in nature and has a far-reaching impact on the growth and sustainability of not only the business but also modern societies including professions. 

C S Pavan Kumar Vijay, MD, Corporate Professionals Capital Private Limited, stated that the speed of change in the business environment has witnessed at the national, regional and global level and there is a need to fill the gaps with constant learning and updations.

Governance Challenges : Mr. Prashant Saran Whole Time member of SEBI in his address said that change also highlighited the challenges of governance-Corporate, Social, professions and said that these challenges of governance would become more dynamic withnthe advancements in IT creating  virtual world of possibilities and oppurtinities.

Mr. Sandip Ghosh, Head NISM, said that every individual, institution, profession and the government need to be on the learning curve to keep pace to be effective and efficient.

Mr. G.V. Nageshwar Rao, MD and CEO of NSDL, reverberated his views and said that  the professionals like CS-CA-CMA are no exceptions to such challenges and there is an urgent need from these professionals to gear up to such challenges.

Mr. Sanjay Gupta, FCS and Director and Chairman of Energy Development Company Ltd., in his address said that there is a growing importance of compliences in governance and the professionals need require themselves to get updated with all requisite knowledge in this dynamic business environment which is propelled by a speeding information technology.

There was a special session by Dr. Girish Ahuja, Tax Expert Budget and Direct Tax. He spoke about the budget 2014 and said that the Budget was the best budget on IT. He further said that FII investment is clearified by new budget as capital gain at the time of sale.

Market Challenges : Shri Ashishkumar Chauhan, MD & CEO BSE Ltd., stressed upon finding the ways to convert challenges into opportunities with respect to Companies Act 2013. As regulatory framework changes multiple regulators come into picture and this is the key challenge.

Mr. G R Bhatia, Partner and Head of Competition Law Practice of Luthra & Luthra Law offices, described about the dynamic business environment and role of professionals. He said that listening is very important as changes have taken place from letters to SMS.

Mr. Deena A Mehta,  MD Asit C Mehta Investment Interrmediates ltd. And winner of exceptional women achiever awards 2014. She further said that biggest challenges is to bring retail investors into markets and real estate market is required to be regulated as it is highly irrregulated.

Corporate Laws : In the fourth technical session CS U K Chaudhary, Past President, The ICSI said that the Companies Act 2013 has delineated distinct role for Company Secretaries either in practice or in employment and confers distinction on them and therefore there is a need to build capacities of the members in this direction.

Shri K Sethuraman, Head Corporate Secretarial Department, Reliance Industries ,said that regulatory pendulum has swung to far end and the CS is a vital link between companies and regulators.

Mr. Somasekhar Sundaresan, Partner J Sagar Associates, Advocates and Solicitors said that Company Secretaries have opportunities whether law is in concensus with statute, lets move forward and not backward. The Act and the Rules made there under require the CS to report to board about compliance with the provisions of all laws applicable to the company, insures compliance with secretarial standards and discharge a wide range of governance responsibilities.

Economic Laws : Mr. Radhakrishnan Nair, Member IRDA, described that the economic legislations such as securities laws, competition and insurance law are the corner stone of corporate edifices.

Mr. P K Tiwari, Director, FIU-IND, in his address expressed that the various laws have emerged as important governance tools to monitor the players in capital market, which is the modern engine of growth.

Mr. Ramesh Lakshman, Practising CA, said that all the three regulatory bodies are instruments for monitoring promotion of fair and ethical means in the market spaces and there is potential opportunities for professionals in these areas.

There was a special session on governance in Government and Companies, in which Dr. M Veerappa Moily, Member of parliament  in his address said that stagnant mind create immobile system which becomes roadblocks in growth of the country and India demands creative thinking in governance. The Company Secretaries role as KMP has increased their responsibilities as Friend, Guide and Philosopher for the corporate world. India need new players and entrepreneurs to add to its corporate scene, He opined.

Mr. Ajay Agarwal, Corporate Trainer, in his special address provided insight into Seven Steps to Enhance Personal and Professional Excellence.