‘Good Governance For Sustainability’

The Institute of Company Secretaries of India- Eastern Indian Regional Council (ICSI -EIRC) observed 2^nd ICSI CORPORATE GOVERNANCE WEEK by organising a full day seminar on the Theme ‘Good Governance For Sustainability’ at Hotel Park, Kolkata. The 2^nd ICSI CORPORATE GOVERNANCE WEEK is being observed across the country from August 27^th to August 31^st 2012. 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.

Shri Amlesh Bandopadhyay, Member (Technical), Company Law Board, Kolkata graced the occasion as the Chief Guest at the Inagural session of the seminar. He in his address to the august gathering said that Indian GDP has grown in a fast paced manner during the last decade and this growth is due to good Corporate Governance. He said due to good Corporate Governance, corporates’ are growing and economy is booming. He also pointed out that for a business the foremost aim should not be profit maximisation but sustainability. He advised the younger members of the profession that professional integrity is a must for being a successful professional and to ensure that the rule of law is implemented in letter and spirit. He also stressed that Company Secretaries being governance professionals, should report to the regulators in case of any anomalies in the business. He also appreciated the institute’s effort of conducting and organising this type of programs. He also released a publication of the Institute titled “Role of Company Secretary in Corporate Governance” .

CS Ranjeet Kanodia,Chairman,ICSI in his inaugural address said that the ICSI is celebrating the CORPORATE GOVERNANCE WEEK for the second time He spoke on the various initiatives taken by ICSI to improve standards of Corporate Governance like setting up of ICSI CCGRT (Centre For Corporate Governance, Research and Training) in Navi Mumbai to foster and nurture research activites ,setting up of ICSI National Award for Excellence in Corporate Governance to recognise and promote good Corporate Governance among good companies, conducting Investor Awareness Programs, Post Membership Qualification in Corporate Governance etc. He said that Corporate Governance means transparency, accountability and following fair business practices and good Corporate Governance builds confidence among people about corporates. He also said that sustainability is an important part of business. He then said that Company Secretaries ,over a period of time, have developed themselves as professionals having core competence in Corporate Governance.

CS Arun Khandelia,Vice-Chairman,ICSI EIRC in the introduction to the theme of the program pointed out thai Its ICSI’s vision to be a global leader in promoting good Corporate Governance. He said that Governance is about taking decisions and implementing them and good Corporate Governance is a must for better business. He also said that the seminar is aimed for creating awareness and to propagate the practices of Corporate Governance and the speakers in todays seminar will emphasise on the essence of Corporate Governance which lies in integrity,transparency and accounatability. He also said that sustainability is there where good corporate governace practices are followed.

CS Anjan Kr. Roy, Past Chairman,ICSI EIRC in his address said that Corporate Governance is not new to Indian Civilization even Chanakya, has spoken on Corporate Governance by referring to Raksha,Vrridhi,Palana and Yogakshema. He said that sustainable growth today have moved into the spheres of maintaining healthy environment and social equity. He said that ICSI is a pioneer in Corporate Governance and the ICSI is working as an extended arm of the Ministry of Corporate Affairs for implementing better Corporate Governance Principles.. He said that a Company Secretary is a governance professional as they play a pivotal role in bringing about awareness on various issues impinging upon Corporate Governance.

CS Deepak Khaitan, Secretary,ICSI EIRC in his address said 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 also said that as a part of 2^nd Corporate Governance Week this semniar is being organised to create awareness among professionals on the topics on Corporate Governance, sustainability & sustainability reporting, integrated reporting, responsible investment, gender diversity, waste management, whistle blowing, risk management & governance, and Good Corporate Citizenship.

After the inaugural session and vote of thanks the technical session of the seminar begans started and the topics discussed in the four technical sessions are

Board Interlocks and their impact on Corporate Governance, Director Development and Performance Evaluation, Gender Diversity, Regulators’ RoleBoard’s Role, Institutional Investors’ Role, Law, Procedure & Issues, National Corporate Governance Policy, Case for Non-financial Reporting – GRI Guidelines

The speakers on the seminar were CS B. B. Chatterjee, Executive Vice-President & Company Secretary, ITC Limited Shri Nitin Ambure, Vice-President, National Securities Depository Limited Ms. Rubina Sen, Focal Point India Coordinator, Global Reporting Initiative,CS Sanjay Kumar Gupta, Practising Company Secretary, Shri Saud Siddique, Joint Managing Director, SREI Infrastructure Finance Limited Ms. Sujata Roy, Assistant Professor, The West Bengal National University of Juridical Sciences, Prof. (Dr.) Suman K. Mukerjee, Principal & Dean, Bharatiya Vidya Bhavan Institute of Management Science Shri Vijay Bhushan, Chairman, Association of National Exchanges Members of India, NIRC (ANMI-NR), (and Shri Vinod Goel, Vice-Chairman, Association of National Exchanges Members of India, EIRC (ANMI-ER)