October 5, 2021 1:34:49 am
Finance Minister Nirmala Sitharaman said the advice given by company secretaries to businesses will make a lot of difference as only “well-managed” companies following good governance practices are attracting investors.
At an event on Monday to mark the 53rd Foundation Day of the Institute of Company Secretaries of India (ICSI), Sitharaman said Indian companies have done extraordinarily well in the last year in terms of attracting investments because of their transparency and better compliance.
“In the last few years, the rate at which compliance-related issues have become the main cause for companies to fail to live up to expectations of investors, well-managed companies, companies which are more transparent in its functioning, companies which have good governance principles, board driven principles, are attracting lot of investors, not only big ticket investors, but also small retail investors,” she said.
“And therefore, for a company to flourish and expand in its area of operation, the role of company secretary to make it easy, to make it ready for the company to follow the guiding principles that you might advice them with, is going to make a lot of difference,” the Finance Minister said.
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