Choosing the best company secretary is vital to ensure your company runs smoothly and avoids legal issues. In this blog, we will discuss the criteria for selecting the best company secretary in India and present the top company secretaries in the country.
A company secretary is a senior-level executive responsible for ensuring that a company complies with all the legal and regulatory requirements. In India, the role of a company secretary is particularly important as companies must appoint a qualified company secretary. A company secretary plays a crucial role in a company’s success by managing its legal and compliance affairs.
This blog aims to provide an overview of the best company secretaries in India. We will discuss their roles, responsibilities, education, and certification. We will also look at the challenges faced by company secretaries in India and the average salaries of company secretaries. This blog aims to provide a comprehensive understanding of the importance of company secretaries in India and highlight the top performers in the field.
Role of Company Secretary in India
In India, a company secretary is a key member of a company’s management team responsible for ensuring compliance with legal and regulatory requirements. The role of a company secretary in India is crucial in ensuring that the company operates within the law and meets all its obligations.
Some of the duties and responsibilities of a company secretary in India are:
- Legal Compliance: A company secretary ensures that the company complies with all the legal and regulatory requirements, including company law, securities law, labour laws, and tax laws.
- Corporate Governance: A company secretary plays a vital role in ensuring that the company operates with integrity and transparency. They also ensure that the company follows all the best practices in corporate governance.
- Board Meetings: A company secretary is responsible for organising board meetings and ensuring all the necessary documentation is prepared, circulated, and filed per the requirements.
- Secretarial Work: A company secretary manages the company’s secretarial work, such as maintaining registers, preparing and filing statutory returns, and managing correspondence.
- Shareholder Relations: A company secretary is responsible for maintaining good relations with shareholders and ensuring all shareholder communications are timely and accurate.
- Risk Management: A company secretary plays a critical role in managing the company’s risks by ensuring that the company complies with all the necessary regulations and guidelines.
Overall, the role of a company secretary in India is vital in ensuring that the company operates efficiently and effectively while adhering to all the legal and regulatory requirements.
Top 5 Company Secretaries in India
To be considered as one of the top company secretaries in India, the following criteria were used:
- Education and experience: The candidate must have a relevant education and considerable experience in the field.
- Achievements and awards: The candidate should have notable achievements and awards in the profession.
- Contributions to the profession: The candidate should have made significant contributions to the profession, such as publications, speaking engagements, and professional development initiatives.
Based on the above criteria, here are the top 5 company secretaries in India:
- Atul H Mehta: Atul H Mehta is the founder of Atul Mehta & Associates, a leading company secretarial firm in India. He has over 35 years of experience in corporate law and secretarial practice. He has served as the President of the Institute of Company Secretaries of India (ICSI) and has been awarded the ‘ICSI Lifetime Achievement Award.’
- K R Kaushik: K R Kaushik is a renowned company secretary and has served as the President of the Institute of Company Secretaries of India (ICSI). He has over 40 years of experience in corporate law and secretarial practice. He has contributed to developing corporate governance in India and has been awarded the ‘ICSI Lifetime Achievement Award.’
- Ashish Garg: Ashish Garg is the founder of Ashish Garg & Associates, a leading company secretarial firm in India. He has over 20 years of experience in corporate law and secretarial practice. He has been recognised as one of the ‘Top 100 Legal Professionals in India’ by Legal Era and has contributed significantly to the profession’s development.
- Jitesh Khurkhuriya: Jitesh Khurkhuriya is a renowned company secretary and has served as the President of the Institute of Company Secretaries of India (ICSI). He has over 25 years of experience in corporate law and secretarial practice. He has been awarded the ‘ICSI National Award for Excellence in Corporate Governance.’
- N K Jain: N K Jain is the founder of N K Jain & Associates, a leading company secretarial firm in India. He has over 30 years of experience in corporate law and secretarial practice. He has contributed significantly to the profession’s development and has been recognised as one of the ‘Top 100 Legal Professionals in India’ by Legal Era.
Company Secretary Education and Certification
Educational requirements to become a company secretary
To become a company secretary in India, one must have a degree in commerce, law, or business administration from a recognised university. After graduation, they must complete the company secretary course conducted by the Institute of Company Secretaries of India (ICSI).
Institute of Company Secretaries of India (ICSI) certification process
The ICSI certification process comprises three stages:
- Foundation,
- Executive,
- Professional.
To enrol in the Foundation stage, a candidate must have completed their higher secondary education. After completing the Foundation stage, the candidate can enrol in the Executive stage. Once the candidate has cleared the Executive stage, they can enrol in the Professional stage.
The certification process also includes practical training, which a candidate must complete before appearing for the Professional stage examination. After completing the Professional stage, a candidate must complete a mandatory one-year training program before eligible for ICSI membership.
Importance of continuing education and professional development:
Continuing education and professional development are critical for company secretaries in India to keep up with the changing legal and regulatory landscape. The ICSI requires its members to complete a certain number of hours of professional development every year to maintain their membership.
Continuing education and professional development can also help company secretaries stay up-to-date with industry trends and best practices. This can help them provide better advice to their clients and ensure that their company complies with all the necessary regulations.
Average salaries of company secretaries in India:
Average salaries of company secretaries in India: According to a survey conducted by the Institute of Company Secretaries of India (ICSI), the annual average wage of a company secretary in India is around INR 8-10 lakhs. However, the salary can vary depending on several factors.
Factors affecting salaries: Several factors can affect the salaries of company secretaries in India, including:
- Industry: Salaries can vary significantly depending on the industry. For example, a company secretary working in the finance or banking industry may earn more than someone in the retail industry.
- Company size: The size of the company can also affect salaries. Company secretaries working for large companies may earn more than those working for small companies.
- Experience: The salary of a company secretary in India can increase significantly with experience. A company secretary with more than ten years of experience may earn significantly more than someone who has just started their career.
- Location: Salaries can also vary depending on the location. For example, a company secretary in a metropolitan city may earn more than someone in a smaller town.
Comparison of salaries across industries and regions:
The salaries of company secretaries in India can vary significantly across different industries and regions.
According to the ICSI survey, the finance and banking industry offers the highest salaries to company secretaries, with an average annual salary of around INR 12-15 lakhs. On the other hand, the retail industry offers the lowest salaries, with an average annual salary of around INR 4-6 lakhs.
The salaries of company secretaries also vary across different regions in India. Company secretaries in metropolitan cities such as Mumbai and Delhi may earn more than those in smaller towns or cities. However, the cost of living in these cities is also higher, which should be considered while comparing salaries across regions.
Challenges faced by Company Secretaries in India
The role of company secretaries in India is critical in ensuring that companies comply with legal and regulatory requirements. However, the profession faces several challenges, including:
- Lack of awareness about the role and importance of company secretaries: Many companies need to be made aware of the role that company secretaries play in ensuring compliance and good corporate governance. This can lead to companies not giving enough importance to the role of secretaries and not providing them with the necessary resources and support.
- Regulatory and compliance changes: India’s legal and regulatory landscape is constantly changing, which can make it challenging for company secretaries to stay current with the latest requirements. This can lead to companies being at risk of non-compliance, which can have serious consequences.
- Increasing competition in the profession: The number of company secretaries in India is increasing, which can lead to increased competition for jobs and clients. This can make it challenging for new company secretaries to establish themselves.
Lack of awareness about the role and importance of company secretaries:
One of the most significant challenges faced by company secretaries in India is the need for more awareness about the role and importance of company secretaries. This can make it challenging for company secretaries to get the necessary resources and support from companies they work with. Companies need to be educated about the role of company secretaries in ensuring good corporate governance and compliance.
Regulatory and compliance changes: India’s regulatory and compliance landscape is constantly changing, and it can be challenging for company secretaries to stay current with the latest requirements. This can lead to companies being at risk of non-compliance, which can have serious consequences, such as fines or legal action.
Increasing competition in the profession: The number of company secretaries in India is increasing, which can lead to increased competition for jobs and clients. This can make it challenging for new company secretaries to establish themselves. Company secretaries must stay up-to-date with the latest trends and best practices and differentiate themselves by offering specialised services.
Conclusion:
In conclusion, the role of company secretaries in India is critical in ensuring good corporate governance and compliance. However, the profession faces several challenges, including more awareness about the role and importance of company secretaries, regulatory and compliance changes, and increasing competition. Companies need to understand the importance of the role of company secretaries and provide them with the necessary resources and support. Additionally, company secretaries must stay up-to-date with the latest trends and best practices to ensure they can provide their clients the best possible services. Overall, the profession of company secretaries in India is promising, and with the right skills and knowledge, it can offer significant career opportunities. Vakilsearch is a legal services company that offers a wide range of services to individuals and businesses in India.
Also Read:
