ICSI has urged the Ministry of Corporate Affairs to enforce compliance with Section 203 for Whole-time CS appointments, stressing the importance of corporate governance.
ICSI Calls for Accountability on Whole-Time CS Appointments
The ICSI has made a representation to the Ministry of Corporate Affairs (MCA) urging the enforcement of Section 203 of the Companies Act, which mandates the appointment of Whole-time Company Secretaries in eligible companies. The representation highlights that mere contractual appointments fail to fulfill legal requirements and compromise corporate governance standards.
This advocacy by ICSI signals an intent to strengthen governance frameworks within corporate entities, ensuring that the roles and responsibilities of finance and compliance personnel are taken seriously. The representation aims to hold companies accountable for non-compliance.
Attorneys and corporate advisers should take note of this initiative and prepare clients for potential regulatory scrutiny, as adherence to governance standards becomes increasingly scrutinized by the MCA.
Citations
- ICSI Representation (2026) ICSI 13
