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“Corporate Governance and CSR Compliance must for sustainability of any organization” opine Experts during a Seminar on “Corporate Governance and CSR Compliance under Companies Act, 2013” At Amity

Legal Entrepreneurship Cell of Amity LawSchool, Noida organized a Seminar on “Corporate Governance and CSR Complianceunder Companies Act, 2013” At Amity Campus, Sector- 125, Noida.

 

The event witnessed the presence of over 60 eminent CompanySecretaries, Advocates and eminent practitioners of Company Law.

 

Welcoming the august gathering, Maj Gen Nilendra Kumar, Director, Amity Law School,Noida shared that Legal Entrepreneurship Cell has been set upin Amity Law School to promote and encourage legal entrepreneurship amongst thebudding lawyers of Law School. Expressing his views on the topic, he statedthat Companies Act 2013 brought in the rationale of Corporate Governance andCorporate Social Responsibility and outlines the duties and responsibilitiesthat Corporate ought to fulfill owing to their existence in the society. Hestressed that Corporate Governance and Corporate Social responsibility are mostpertinent in the present era and impinge upon ethical conduct by Corporate. Heexpressed his hope that the discussions and deliberations during the day wouldhighlight the future roadmap for Corporate Governance and Corporate SocialResponsibility related initiates by Corporate.

 

Chief Guest Mr. Nesar Ahmed, Ex-President,Institute of Company Secretaries of India & Director, Nesar Consulting (P )Ltd, while sharing his views with the gathering, opined that thefindings of Western world led by European countries in the area of CorporateGovernance cannot be blindly implemented to Indian scenario since  inIndia, there is a clear separation between Ownership and Management. The rulesand regulations guiding CSR and Corporate Governance by Indian industries haveto be India specific. He shared that even the age old “Arthshastra” by Kautilyapromoted the message of doing business in an ethical manner. He stressed thatCorporate Governance is beyond the philosophy of social obligation.

 

Addressing the gathering, Mr.N.K. Jain- Former CEO and Secretary, ICSI & Corporate Advisorpresented a bird’s eye view of Corporate Governance and Corporate SocialResponsibility. He stated that when Companies Act 1956 was amended in 2002, itincluded few basic principles including “De-regulation of Companies, Self-regulation of Companies, upholding shareholders’ democracy etc.” He shared thatCorporate Governance and Corporate Social Responsibility were included later onin 2013 with the amendment in the Act. The basic idea was to benchmarkCompanies Act 2013 with best governance practices worldwide. He stressed thatCompanies Act 2013 draws heavily from the Corporate Governance principals ofThe Organisation for Economic Co-operation and Development (OECD) including“Effective Corporate Governance Framework”, “Protecting and Facilitatingshareholders’ rights”, “Ensuring Equitable treatment to shareholders”,“Disclosure and transparency”, and “Role and responsibilities of Board ofDirectors”. He opined that the companies with good governance have soundfinancial performance, increased marked share, strong brand equity,credibility, sustainability, sustainability and flow of capital funds.

 

Sharing his views, Mr.Om Prakash Dani-Member, Executive Committee, Sri Aurobindo Society, Puducherry saidthat Corporate Governance has become a buzzword in management and businesscircles. It is important to create ethical consciousness and promote ethicalconduct in the organization. He opined that Corporate Governance has to be madea sustained effort in every Corporate; since it is only ethically fittestorganizations which have fully internalized ethical conduct, will survive inthe long run.

 

During the occasion, a book on 'A Review of Laws Relating to Tourism in India” editedby Maj Gen Nilendra Kumar, Director, Amity Law School, Noida was also releasedby the eminent dignitaries.

 

The inauguration was followed by Technical session wherein Mr. Pradeep Panda, DGM and CompanySecretary , LG Electronics, Mr. Sharad Tyagi, Associate Partner, Seth Dua &Associates, Mr. M K Rustagi,  Company Secretary & President, PioneerFlex  Industries and others shared their views.

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