ICSI to set up India’s 1st ADR centre in Hyderabad

Visakhapatnam The Institute of Company Secretaries of India (ICSI) has decided to collaborate with foreign firms to step beyond boundaries and transform its remote learning landscape into real-time by making use of digital technologies.

The two-day 24th national conference of practicing company secretaries on the theme ‘stepping beyond boundaries,’ began here to discuss its future strategies. After talks with Defence Minister Rajnath Singh, it has decided to introduce courses for agniveers and defence personnel without charging any amount.

ICSI national president Manish Gupta told the media here that they are holding talks with the Ministry of Law for appointment of company secretaries as arbitrators. He said they are setting up buildings for alternative dispute resolution (ADR) centres in Hyderabad and Bengaluru to start with.

India’s first centre will come up in Hyderabad as the fast developing city has readily built infrastructure. The next will be in Bengaluru. In the second phase, centres will come in Mumbai and Manesar. A multi-city and multi-nation project was launched at the 50th national convention in Kolkata. The ICSI International ADR Centre is aimed at creating a conducive ecosystem-one which aids the existing judicial structure and helps in the de-clogging of the courts and provides justice at a speed unparalleled. With the first centre intended to be opened in Hyderabad, the idea is to take this initiative across the various cities possessing good infrastructural facilities. The ADR Centre is ICSI’s attempt to support the nation’s judicial ecosystem, thus strengthening the overall governance ecosystem.

Gupta said with its vision to be a global leader in promoting good corporate governance and its mission to develop high calibre professionals facilitating good governance, the institute has set its foot in the international arena by setting up ICSI Overseas Centres in UAE, USA, UK, Singapore, Australia and Canada.

The conference being held in Visakhapatnam attracted leaders from trade and industry, senior corporate professionals, corporate directors, senior officers from the government, and other stakeholders to understand the complexities of the global corporate governance environment and to build capacities in accordance. ICSI organised a corporate tax conference in Dubai June 3 with ICSI Middle East (DIFC) NPIO on the theme ‘UAE Corporate Tax-A New Paradigm Towards Transparency and Good Governance’.

Startup and MSME Catalyst

Understanding the need for a friend, philosopher and guide at every step of the way for startups and MSMEs, ICSI has rolled out a unique initiative on the occasion of 54th Foundation Day i e ‘Startup and MSME Catalyst’. As seasoned professionals, adept in the legal framework and aptly attuned to the needs of the startups, company secretaries can extend support in almost all arenas of startups right from their registration, to accounting, tax and finance and even investment/fund-raising not to mention affirming legal compliance, the professional body said.

Gupta informed that with the social stock exchanges being formed under the Sebi Regulations, social audit and social auditors shall be playing a pivotal role going forward. Incorporated on October 4, 2022, and launched at the 54th Foundation Day of the ICSI, the ICSI Institute of Social Auditors is a Section 8 company, created with the intent of strengthening the social audit and impact assessment of the social governance ecosystem in the country. In a nutshell, the ICSI-ISA will be taking on the task of developing standards for social audit, registering social auditors, laying down their standards of professional conduct and partnering with NISM for the development and delivery of courses on social audit.