50,000 company secretaries needed in next 6 years: ICSI
BS Reporter / Kolkata Apr 14, 2009, 16:49 IST
The country will need around 50,000 company secretaries in the coming five to six years, and the Institute of Company Secretaries of India(ICSI) is looking at penetrating into smaller towns and cities to meet the demand-supply gap.
There are around 23,000 company secretaries in the country now. "We are trying to increase our enrollments with the rising demand. Student registrations were up by 55 per cent in 2008 compared to the year before. 2007 registrations were up by 50 per cent compared to 2006", said Datla Hanumanta Raju, president, ICSI. So far, registrations have crossed the 40,000-mark.
"The demand for company secretaries(CS) have been on the rise, as any company with a paid-up capital of more than Rs 5 crore needs to have a CS. Any company with a paid-up capital between Rs 10 lakh and Rs 5 crore needs to obtain a secretarial compliance certificate issued by a CS," said Vinayak S Khanvalkar, vice president, ICSI.
In addition to this, ICSI is also pursuing with the Securities and Exchange Board of India (Sebi) to make compulsory the compliance of secretarial standards by listed companies, as is proposed in the new Companies' Bill.
"We are also pursuing with the ministry of labour and employment for need for enhancing the compliance level in the industry and commercial establishments by way of prescribing compliance certificate report by a company secretary in practice. The Institute is now pursuing the other state governments to recognize company secretary in their VAT legislations.
Similarly, the Institute has requested SEBI to recognize company secretary to issue compliance certificate to Stock Exchanges to facilitate them to list securities offered in IPO /FPO", said N K Jain, secretary and chief executive officer of ICSI.
If these were adopted, it will further enhance the need for CS in the coming years. As of now, the northern region fared better in terms of enrollments, with 40,000 students compared to around 15,000 in the east. There were only around 2,000 members in the East.
The syllabus of CS course has wide variety of subjects. 70% of syllabus of CA,CS and ICWA is same. The difference is of depth in the subject. Unfortunately, students do not take the syllabus seriously because of low cost of the course. Even the primary education is not available in good schools in comparison to the cost of CS course. It does not mean that the quality of the education is poor. Students should take the benefits of the opportunity instead of choosing that career where acute competition is there. The same career may be built after choosing a particular subject of choise. For example; if the students have interest in Taxation; they should try to get the highest marks in that subject. In this way; they can start their career as Taxation Consultant. At least 25 different careers emerge from CS Course in addition to the specilization in company law. The total cost of the syllabus is as low as Rs.20,000/- approx if students choose it after 12th standard.
Posted by: kani
December 13 , 2010, 18:55 IST
is the company secretary need to do any ug degree? is it necessary ? plz reply me
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