Published On : Mon, Jul 30th, 2018

VIA has larger role in framing Corporate Law and Policies”

The President of Institute of Company Secretaries of India CS Makarand Lele, visited VIA and interacted with the industrial fraternity. Atul Pande, President VIA, has put the concerns of Industries relating to Company Law, Limited Liability Act before him. Atu Pande discussed about the mandated, issued by Ministry of Corporate Affairs, of filing of new form DIR 3 KYC for all Directors every year.

Atul Pande suggested that this KYC requirement should be clubbed with annual documents which are filed every year. The industry should not be burdened with more and more formalities. Mr Lele appreciated the recommendation.

Omprakash Bagdia requested to take the issue of per day penalty for filing RoC returns, large scale rejection of name send for approval and procedural difficulties in forming company. He also demanded that formation of LLP by persons not having Director Identification Number should be started again as soon as possible. Lele also discussed other issues relating to Insolvency Bankruptcy Code. He assured that the institute will take up and support all these issues before the Ministry of Corporate Affairs.

Atul Pande has also asked Lele to keep and easy exit rout for companies who which to cancel the incorporation. Both the presidents also shared their thoughts on present regulatory framework.

Lele appreciated the role of regional industry chambers and associations like VIA. According to him MSME are large in number and therefore the associations like VIA have eminent role to play in making laws and policies.

Lele also shared thoughts on role of Company secretary in Industry. Dr Suhas Buddhe, Hon. Secretary VIA, also suggested that VIA can frame a program for budding Company Secretaries for giving insight of Industry environment similar to program of VIA for IIM students.

Lele, appraised VIA team about proposed “Chamber Connect” initiative of the ICSI wherein the Company Secretaries will be able to have better co-ordination with Industries. This will help ICSI in getting better insights of need of Industry and also for effective training of Company Secretaries.

Pande also accepted the recommendation of Lele to have Nagpur Chapter Chairman as an ex-officio member of VIA Tax and Corporate Law forum for better co-ordination. At the same time he accepted the request of nominating VIA team member to Nagpur Chapter ICSI as its Co-opted Member.

Omprakash Bagdia, Ex-Vice President of VIA, Sachin Jajodia, Convener of VIA Taxation and Corporate Law Forum, CS Amit Rajkotiya, CS Ashish Garg, Central Council Member ICSI were present amongst other industrialists and Company Secretaries.