The Hindu Business Line : ICSI to set up `investor clinics'

THE Institute of Company Secretaries of India proposes to set up `investor clinics' at its 61 chapters across the country, "for creating awareness and assisting the gullible investors".

The institute also plans to develop a Web site for investor education, Mr Pavan Kumar Vijay, President of the Institute, said at a press conference here.

A member of the institute will be available at the `investor clinics' to offer any help to the investing public.

He said that the ICSI proposed to shortly enter into an agreement with the National Stock Exchange for certifying digital signatures required in online financial transactions and annual filing of returns.

The ICSI also intends to organise a 25-hour `knowledge upgradation programme' for its members, beginning from April 1.

The Institute has also called for making mandatory, an annual secretarial audit. Such an audit, which would be performed by a practising company secretary, would certify that the company has complied with all the laws, Mr Vijay said. Observing that there were more than 100 legislations a company was required to follow (with penalties for the directors in case of non-compliance), Mr Vijay said that the boards of some companies were insisting on a `secretarial audit'. It is the ICSI's plea that the audit is made mandatory.

He said that the institute proposed to introduce a `post-membership course' on corporate governance and the WTO, so that the members are qualified enough for the demands of the market.

Mr R. Ravi, a Council Member, said that the Institute was seeking funds from the corporates to defray the expenditure involved in the construction of a new building in Chennai.

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