COMPLIANCE:
A PARADIGM SHIFT
The Eastern India Regional Council of The
Institute of Company Secretaries of India (EIRC of ICSI) in association with
Thought Exchange Forum organised Oxford Style Debate on “COMPLIANCE: A PARADIGM
SHIFT
CS Mamta Binani, President, ICSI and
Keynote speaker in
her address said that Compliance is as old as civilization and compliance of
rules and regulations help organisations and businesses to maintain trust and
competition in the market. She stressed on the part that Compliance is an
integral part of the organisation’s governance and decision making process and
organisations with good compliance practices actually help themselves by
fostering growth and investor confidence. She concluded by saying that
“Compliance is not a cost center, since its benefits would always be more than
costs”.
While addressing the dignitaries, CS
Sandip Kr Kejriwal, Chairman, EIRC of ICSI and a Keynote Speaker emphasised the
role of compliance. He said such exchange programmes
can help the business fraternity understand the importance and benefits
of Compliance. Speaking at the occasion Mr Kejriwal said, Secretarial Standards
laid by the Institute is a good step of compliance management and helps
Companies to follow good corporate governance practices. He also made a point
that timely and efficient compliance process helps in avoiding penalties and
ensures good ethical practice in a corporate.
The
Oxford style debate was held for the motion ‘Compliance : Benefits are more
than Costs’. CS C..Radhakrishnan was the moderator of the debate. CS B.B.
Chatterjee, (Executive VP & CS,ITC Ltd) and CS Sandeep Lakhotia, (Sr. VP
and CS SREI Infrastructure Ltd) spoke for the motion and Mr Sanjay Jani
(Managing Director,TT Ltd) and Mr Anil Buchasia, Director Amrit Exports Ltd.
Spoke against the motion..
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