Friday, August 31, 2012

2nd ICSI CORPORATE GOVERNANCE WEEK CULMINATES AT NEW DELHI


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 2nd 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.

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