The Company Secretaries Institute has hailed the passage of the Companies Bill 2012 by Parliament today.
This new law transits the Company Secretaries to corporate governance professionals. It will bracket Company Secretaries in the category of key managerial personnel.
It will also hold them responsible for implementation of all relevant laws applicable to the companies, S.N.Ananthasubramanian, President of the Institute of Company Secretaries of India told Business Line.
The new law also envisages a much larger role for company secretaries in the areas of secretarial audit, restructuring, liquidation, valuation and much more, he added.