Legal Entrepreneurship Cell of Amity Law School, Noida organized a Seminar on “Corporate Governance and CSR Compliance under Companies Act, 2013” At Amity Campus, Sector- 125, Noida.
The event witnessed the presence of over 60 eminent Company Secretaries, 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 up in Amity Law School to promote and encourage legal entrepreneurship amongst the budding lawyers of Law School. Expressing his views on the topic, he stated that Companies Act 2013 brought in the rationale of Corporate Governance and Corporate Social Responsibility and outlines the duties and responsibilities that Corporate ought to fulfill owing to their existence in the society. He stressed that Corporate Governance and Corporate Social responsibility are most pertinent in the present era and impinge upon ethical conduct by Corporate. He expressed his hope that the discussions and deliberations during the day would highlight the future roadmap for Corporate Governance and Corporate Social Responsibility 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 the findings of Western world led by European countries in the area of Corporate Governance cannot be blindly implemented to Indian scenario since in India, there is a clear separation between Ownership and Management. The rules and regulations guiding CSR and Corporate Governance by Indian industries have to be India specific. He shared that even the age old “Arthshastra” by Kautilya promoted the message of doing business in an ethical manner. He stressed that Corporate Governance is beyond the philosophy of social obligation.
Addressing the gathering, Mr. N.K. Jain- Former CEO and Secretary, ICSI & Corporate Advisor presented a bird’s eye view of Corporate Governance and Corporate Social Responsibility. He stated that when Companies Act 1956 was amended in 2002, it included few basic principles including “De-regulation of Companies, Self- regulation of Companies, upholding shareholders’ democracy etc.” He shared that Corporate Governance and Corporate Social Responsibility were included later on in 2013 with the amendment in the Act. The basic idea was to benchmark Companies Act 2013 with best governance practices worldwide. He stressed that Companies Act 2013 draws heavily from the Corporate Governance principals of The Organisation for Economic Co-operation and Development (OECD) including “Effective Corporate Governance Framework”, “Protecting and Facilitating shareholders’ rights”, “Ensuring Equitable treatment to shareholders”, “Disclosure and transparency”, and “Role and responsibilities of Board of Directors”. He opined that the companies with good governance have sound financial 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 said that Corporate Governance has become a buzzword in management and business circles. It is important to create ethical consciousness and promote ethical conduct in the organization. He opined that Corporate Governance has to be made a sustained effort in every Corporate; since it is only ethically fittest organizations which have fully internalized ethical conduct, will survive in the long run.
During the occasion, a book on 'A Review of Laws Relating to Tourism in India” edited by Maj Gen Nilendra Kumar, Director, Amity Law School, Noida was also released by the eminent dignitaries.
The inauguration was followed by Technical session wherein Mr. Pradeep Panda, DGM and Company Secretary , LG Electronics, Mr. Sharad Tyagi, Associate Partner, Seth Dua & Associates, Mr. M K Rustagi, Company Secretary & President, Pioneer Flex Industries and others shared their views.