Institute of Company Secretaries of India
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The Institute of Company Secretaries of India(ICSI) is constituted under an Act of Parliament i.e. the Company Secretaries Act, 1980 (Act No. 56 of 1980). ICSI is the only recognized professional body in India to develop and regulate the profession of Company Secretaries in India.The Institute of Company Secretaries of India awards the certificate of bestowing the designation of Company Secretary(CS) to a candidate qualifying for the membership of the Institute. It was in 1960 that the Company Law Board started a course in Company Secretaryship leading to the award of Government Diploma in Company Secretaryship. As the number of students taking up the Company Secretaryship course grew, the Government promoted on 4th October, 1968, Institute of Company Secretaries of India under Section 25 of the Companies Act, 1956 for taking over from the Government the conduct of Company Secretaryship examination.
The Institute of Company Secretaries of India (ICSI) has since been converted into a statutory body w.e.f. 1.1.1981 under the Company Secretaries Act, 1980.The Institute of company Secretaries of India (ICSI) has its headquarters at New Delhi and four regional offices at New Delhi, Chennai, Kolkata and Mumbai.As per the provision to Section 203 of the Companies Act 2013 read along with rule 8 and 8A of companies (appointment and remuneration of managerial) rule 2014, all companies having a paid up capital of Rs.5 crore or more are mandatorily required to appoint a full-time company secretary and as per section 204 all listed companies and public companies having a paid up share capital Rs 50 crore or more and turnover of 250 crore or more are required to procure a secretarial audit report from a Practicing Company Secretary which has to be annexed to the Directors' Report along with the annual accounts. Thus there are two areas in the career: whole-time employment and whole time practice.
The Institute, being a pro-active body, focuses on best and top-quality education to students and best quality Set Standards for members.
ICSI has also issued various notes and is also organizing various lectures on Companies Act to make its understanding simpler and easier.As per sebi(listing obligation and disclosure requirment)regulation 2015 a company secretary is required to be appointment by every listed company as a compliance officer
A company secretary, being a principal officer and key managerial personnel in the company is an expert of various laws and corporate governence. He is chief advisor for corporate law to the board Of directors. He or she conducts a secretarial audit in the company, that covers his independent opinion on various laws like labor laws, company law, environmental laws, securities law and other concerned laws to the company.
To become a member, stages to be passed are: Foundation (4 exams, objective paper Executive (7 exams, 3 of which are objective paper) Professional (9 exams, 1 of which open book exam)
15 days of Academic Training required after passing executive level.
1 year training under PCS/ Company required after passing professional.
2 year training under PCS/ Company required after passing executive.
3 year training under PCS/ Company required after passing foundation.
15 days MSOP after completion of all above to apply for member
Membership
Identity number issued by the Institute to its members after completion of course (Examination, Trainings etc.). There are two types of membership namely Associate membership and fellow membership. There are greater than thirty thousand memberships.