The Institute of Company Secretaries of India may get re-christened as Institute of Governance Professionals of India (IGPI).
Any such move would be in line with the institute’s recent aspiration to elevate its members from being compliance officers to governance professionals.
The name change is, however, subject to a new law getting enacted by Parliament, according to M.S. Sahoo, Secretary, ICSI.
Indications are that the Government would look to move a Bill that will seek to replace the Company Secretaries Act enacted in 1980.
The ICSI aspiration of rebranding the profession as “governance professional’’ got a shot in the arm on Thursday with Corporate Affairs Minister Sachin Pilot agreeing to pilot a Bill for this purpose in Parliament.
Retired Supreme Court Judge B.N.Srikrishna — who is heading a committee to review the Company Secretaries Act — has also virtually endorsed the re-designation of company secretaries as “governance professionals’’.