Road to success
The students of Narayana Academy has again excelled in JEE(Advance) examination with securing top four ranks in the top 10. In top 100 ranks, the students were on 24 positions, thus establishing its position as India’s premier coaching institute.
Dr K Gopal, Vice-chairman of Narayana Group said: “The group has once again repeated its outstanding performance in the 2019 exams. Our system of learning motivates the students to strive for better results. Our weekly tests (common practice tests) makes our students perfect as weak subjects/topics are identified and immediate solutions are suggested for their improvement. Similarly, part tests, cumulative tests, and grand tests are also conducted according to the timelines and students’ performance is evaluated. The suggestions once implemented make students perfect and help them in the long run.”
High governance on cards
The Ministry of Corporate Affairs (MCA) had introduced e-form INC-22A (Active) for taking into account the active companies and their registered offices. The form had mandated filling of the details of Company Secretary for companies mandated to appoint the same thereat. India is perhaps the only country where a form like INC-22A (Active), to be filed by every company incorporated on or before the December 31, 2017, is introduced capturing such details like the latitude and longitude of the registered office, directors, KMPs and auditors and others. It is evident that the MCA is hoping to achieve significantly high level of governance norms.
However, the monitoring of appointment of Company Secretary is an attempt to further strengthen the existing governance framework in the Indian corporate scenario. This mandate of Government has recently raised various contentions regarding the shortfall in the number of CS professionals as against the number of companies eligible and mandated under the Act to make appointments and even further of Company Secretaries demanding high salaries in the wake of such shortage.
Being the parent organisation of Company Secretaries, the Institute of Company Secretaries of India intends to clarify that there is no shortage of Company Secretaries who shall be willing to serve the corporates and support in their compliances.
The institute has a dedicated placement cell in place for the purpose of coordinating between corporates intending to appoint Company Secretaries and the professionals seeking employment. As far as the salary packages are concerned, it may be noted that akin to any other professional, the salaries of Company Secretaries, too, are driven by market factors such as number of years of experience, size of organisation, work profile, position and others. Considering the trend from the past few months, there is no immediate surge in pay packages of Company Secretaries, as has been claimed by various quarters.
Emphasising upon improving the level of corporate governance in the country, CS Ranjeet Pandey, President, ICSI said: “ICSI being the parent organisation of Governance professionals in India believes in having strong credentials in corporate governance. Improving the level of transparency and accountability shall go a long way in strengthening the Corporate governance framework of the nation.”
“The India Inc is expected to whole-heartedly support the MCA in its initiative of eliminating inactive companies,” he said.
The corporates are suggested to pursue employment and appointment of Company Secretaries in their entities not merely as a tick-box initiative but as an attempt to perfect their parts in attaining the goals of good governance which shall go a long way in achieving the vision of new India,” he adds.
Jubilee celebrations
The 70th Chartered Accountants Day of ICAI was celebrated on July 1, 2019 all across the country with great enthusiasm and zeal. July 1 is a landmark day in the history of ICAI as on this day ICAI was set up to regulate the Profession of Chartered Accountancy in India in the year 1949. This CA Day was more special as the institute has reached a significant milestone i.e. Platinum Jubilee of its glorious existence.
The 70th Chartered Accountants Day in Delhi was inaugurated by M Venkaiah Naidu, Vice-President of India. The event was also graced by Injeti Srinivas, IAS, Secretary, Ministry of Corporate Affairs & Dr In-Ki Joo, President, International Federation of Accountants (IFAC). Present were CA Prafulla P Chhajed, President & CA Atul Kumar Gupta, Vice-President, ICAI and over 1200 CA Members and stakeholders.
ICAI has achieved significant milestones in the field of accountancy and is poised to play a greater role in changing the global landscape and strengthening the foundation of resurgent India by taking the profession to the newer zeniths.