05/04/2014
The Companies Act, 2013 has been marked as a Historic legislation in Indian Corporate World.
The act stipulates Compliance in its every page and if the Company Secretaries are kept away from 90% of the Companies in India, how does the Act be,what it is expected to deliver in true letter and spirit.
A-B-C of Compliance should be Taught when a new Company is registered, not when it becomes a Huge Conglomerate.
As the very basic truth of the world - "Its best to teach good habits when you are a child" the same should be followed here for Companies, not when they have grown with all the Non Compliance style of functioning, but compliance from start for a better Corporate culture in the Country and hence to Eradicate Corruption and thereby to safeguard the Economy.
We Indians still follow UK Law, Company Secretary Service is Compulsory for every company in Hong Kong, Singapore, Malaysia, Sri Lanka, China.
Time has come for India to take lead and show the world of the Importance of Complying with Compliance of Applicable laws.
Hence secretarial compliances should be mandated for all companies in India!