Institute of Company Secretaries of India (ICSI): An Overview

1. Introduction

The Institute of Company Secretaries of India (ICSI) is the premier national professional body in India that regulates and promotes the profession of Company Secretaries (CS). It was established under the Company Secretaries Act, 1980, and operates under the jurisdiction of the Ministry of Corporate Affairs (MCA), Government of India.

2. Origin and History

• Operates under the Ministry of Corporate Affairs (MCA), Government of India.

• 1960: The development of the Company Secretary profession in India began under the Companies Act, 1956.

• 1968: The Institute of Company Secretaries of India (ICSI) was formed as an autonomous body to conduct CS examinations and training.

• 1980: The Company Secretaries Act, 1980 was enacted, granting ICSI Statutory recognition and transforming it into a professional Institute.

• Present: ICSI has evolved into a globally recognized body, promoting excellence in Corporate Governance and Compliance.

  
  

3. Functions of ICSI

• Regulating the Profession: Develops and enforces ethical standards for Company Secretaries.

• Education & Training: Provides structured courses, training, and Professional Development Programs (PDP).

• Examinations: Conducts exams for students pursuing CS qualifications (CSEET/Executive/Professional level).

• Advisory Role: Assists the government in policy-making related to Corporate Governance.

• Corporate Governance & Compliance: Promotes transparency and ethical business practices.

  
  

4. Stages of Becoming a Company Secretary

1. CS Executive Entrance Test (CSEET) (Entry Level)

• Eligibility: 10+2 (Any stream except Fine Arts).

• Exemptions: Graduates/Postgraduates are also required to take CSEET (earlier Foundation course was exempted for them).

• Subjects Covered:

  • Business Communication

  • Legal Aptitude & Logical Reasoning

  • Economic & Business Environment

  • Current Affairs & Presentation Skills

    
    

2. CS Executive Program (Intermediate Level)

• Eligibility: Passed CSEET or exempted categories.

• Divided into Two Modules:

  • Module 1: Company Law, Tax Laws, Jurisprudence & Governance, Setting up of Business Entities.

  • Module 2: Corporate & Management Accounting, Securities Laws, Financial & Strategic Management.

    
    

3. CS Professional Program (Final Level)

• Eligibility: Passed CS Executive Program.

• Divided into Three Modules:

  • Module 1: Governance, Risk Management, Compliance & Ethics, Advanced Tax Laws.

  • Module 2: Secretarial Audit, Corporate Restructuring, Financial Management.

  • Module 3: Multidisciplinary Case Studies, Electives (Banking, Insurance, IP Rights, etc.).

    
    

4. Practical Training Requirements:

• 21 Days Executive Development Program (EDP) before starting practical training.

• 15 Months Practical Training under a practicing CS or a Company (can be started after clearing the Executive level).

• Management Skills Orientation Program (MSOP) before obtaining CS membership.

  
  

Final Step: Membership & Certification

• After completing all exams and training, candidates can apply for Associate Membership (ACS) of ICSI and officially become a Company Secretary.

  
  

5. Membership & Degrees

• Associate Membership (ACS) – Granted after completing all exams and training.

• Fellow Membership (FCS) – Conferred after five years of professional experience.

• Post Membership Qualification (PMQ) Courses – For specialization in various domains.

  
  

6. Regional Councils of ICSI

• ICSI is divided into 4 Regional Councils based on geography across India, namely NIRC, WIRC, SIRC, EIRC to facilitate professional development, training, and networking opportunities for students and members.

• Functions:

  -Conducts professional training sessions, workshops, and Certification courses.

  -Conducts Management Skills Orientation Programs (MSOP) and training sessions.

  -Supports student registrations, study material distribution, and career guidance.

  -Facilitates student internship placements with reputed firms.

  -Conducts Corporate Governance conclaves and Industry interactions.

  
  

A. Northern India Regional Council (NIRC) – New Delhi

📍 Headquarters : New Delhi

🗺️ States & UT covered : Delhi, Haryana, Himachal Pradesh, Jammu & Kashmir, Punjab, Rajasthan, Uttarakhand, Uttar Pradesh, Chandigarh (Union Territory).

✅ Chapters : Comprises of 32 Chapters including Delhi, Noida, Jaipur, Lucknow, Agra, Ajmer, Alwar, Amritsar, Chandigarh, Dehradun, Faridabad, etc.

D. Western India Regional Council (WIRC) – Mumbai

📍 Headquarters: Mumbai, Maharashtra

🗺️ States & UT covered : Maharashtra, Gujarat, Madhya Pradesh, Goa, Chhattisgarh, Dadra & Nagar Haveli, Daman & Diu.

✅ Chapters : Comprises of 17 Chapters including Ahmedabad, Aurangabad, Bhopal, Indore, Goa, Mumbai, etc.

B. Southern India Regional Council (SIRC) – Chennai

📍 Headquarters: Chennai, Tamil Nadu

🗺️ States & UT covered : Tamil Nadu, Kerala, Karnataka, Andhra Pradesh, Telangana, Puducherry, and Lakshadweep.

✅ Chapters : Comprises of 15 Chapters including Bengaluru, Hyderabad, Kochi, Mysuru, Salem, etc.

C. Eastern India Regional Council (EIRC) – Kolkata

📍 Headquarters: Kolkata, West Bengal

🗺️ States & UT covered : West Bengal, Odisha, Bihar, Jharkhand, Sikkim, Assam, Arunachal Pradesh, Manipur, Meghalaya, Mizoram, Nagaland, Tripura, Andaman & Nicobar.

✅ Chapters : Comprises of 8 Chapters including Bhubaneswar, Patna, Ranchi, Siliguri, etc.

7. Local Chapters of ICSI

Each Regional Council further has Local Chapters in major cities and towns to provide accessible support for students and members.

Key Roles of Local Chapters:

✅ Conduct oral coaching and professional development programs.

✅ Organize student orientation and study circle meetings.

✅ Assist in registration, examination, and career counseling.

✅ Facilitate practical training and placement assistance.

✅ Conduct CS Awareness Programs in colleges and universities.

Some Prominent ICSI Chapters:

🔸 NIRC: Noida, Chandigarh, Jaipur, Lucknow, Dehradun.

🔸 SIRC: Bengaluru, Coimbatore, Hyderabad, Kochi, Visakhapatnam.

🔸 EIRC: Bhubaneswar, Guwahati, Patna, Ranchi, Siliguri.

🔸 WIRC: Ahmedabad, Pune, Indore, Nagpur, Raipur.

7. Career Opportunities for CS Professionals

Company Secretaries have diverse career paths in:

• Corporate Sector : Compliance Officers, Legal Advisors, Governance experts.

• Government & Regulatory Bodies: Work with MCA, SEBI, RBI, etc.

• Independent Practice: Offer advisory and Secretarial Services.

• Academia & Research: Teaching and Policy development.

  
  

8. Conclusion

ICSI plays a crucial role in fostering Corporate Governance and Compliance in India. With structured education, rigorous training, and a vast professional network, it remains a prestigious Institution for aspiring Corporate Governance Professionals.