INSUBCONTINENT EXCLUSIVE:
Nirmala Sitharaman said Indian companies have done extraordinarily well in the last year.New Delhi: Finance Minister Nirmala Sitharaman on
Monday said the advise given by company secretaries to businesses is going to make a lot of difference as only "well-managed" companies
following good governance practices are attracting investors.She also said Indian companies have done extraordinarily well in the last year
with regard to 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 the 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."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," Ms Sitharaman said.She was addressing an event to
mark the 53rd Foundation Day of the Institute of Company Secretaries of India (ICSI).She said at a time when the government is trying to
remove archaic laws and bring in amendments to reduce penal provisions in the Companies Act, the scope of work of a company secretary is
widening."Between 2020 and today, you see a lot of retail investors getting interested in stock market in India ..
lot of investors, retail investors going into the market, companies drawing lot of funds from abroad, are all possible only because you
(company secretaries) are at it and doing a good job of advising the companies to follow better compliances," the Minister said.Stating that
it is the company secretaries who made it possible for businesses in the last two years to showcase their strengths before potential
investors, Ms Sitharaman said this would be an interesting phase for all those who are getting into the profession now with newer challenges
in the form of technology.(This story has not been edited by TheIndianSubcontinent staff and is auto-generated from a syndicated feed.)
