Corporate Governance is the application of best management practices, compliance of law in true letter and spirit and adherence to ethical standards for effective management of the Company. The promoters have to adhere to various laws and should have the ethics inbuilt in the policies.

It has to be diligently practised to enable distribution of wealth and discharge of social responsibility for sustainable development of all stakeholders of the Company while carrying on the business ethically.

Role of Company Secretaries

Company Secretaries have been assigned the responsibility of compliance officers, , under various laws, to make sure that Corporate Governance practices are followed diligently by all companies. The role of a Company Secretary has now become multi-disciplinary and every Company needs such a professional to guide them on the various corporate and other allied laws.

Wherever Companies are not required to appoint a full-time Secretary on its Board, or are not able to justify such a full-time employment, the responsibility is taken up by Company Secretaries in Practice, who advice the Board on the proper procedures and timelines within which the various compliances of law are required to be satisfied.

Company Secretaries are the conscience keepers of a Company and play an important role in facilitating the ethical and responsible management of all Companies.