ICSI moots idea of Global Corporate Governance Code

The Institute of Company Secretaries of India (ICSI) today said it is working towards forming international consensus on a Global Corporate Governance Code that could help in ease of doing business.
Mamta Binani, president of ICSI, a professional body under the Ministry of Corporate Affairs, said it is organising a global congruence here on December 9-10 to create global consensus and moot a proposal with United Nations Organisation to declare a day as 'International Corporate Governance Day'.
"We have conceived the idea (of having a Global Corporate Governance Code) and conceptualised it. This is the first time that anything like this is happening in the world.

"We are writing to all the countries through their respective ambassadors. We want to have a round of meeting with UNO also. It may take three to six years to arrive at a consensus among all the countries," Binani told a press conference here.
She said ICSI had organised International Corporate Governance Day celebrations in Delhi in April this year, which was attended by representatives from countries such as France and Germany.
"There will be a series of meetings in the future. We are planning to have meeting with the Consul Generals of all the countries next month. We are seeking UNO support for declaring a day as International Corporate Governance Day and also to have a Uniform Corporate Governance Code globally," she said.

To a query, she said there is a proposal to set up a chapter in Dubai which has to be cleared by the Union Cabinet.

According to Binani, the global congruence to be held here in December is expected to be attended by nearly 2,500 delegates.
ICSI plans to open its chapters in all 'smart cities' declared by the government, even as a majority of them have been covered as of now, she added.
The body has 45,000 members and four lakh students are pursuing the course run by it.