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ICSI motto reflects country’s corporate governance standards: Union Minister Goyal



           Appreciating the efforts of the ICSI for playing a pivotal role in promoting the cause of Good Corporate Governance, Union Commerce & Industry Minister Piyush Goyal said the premier institute’s motto reflects our country’s own corporate governance standards.

Speaking at the ICSI National Awards for Excellence in Corporate Governance 2020 on Wednesday, Minister Goyal said, “The moto of ICSI “Satyam Vada Dharmam Chara” reflects the work of ensuring truthfulness and transparency by the Institute and its members; and that reflects the country’s own corporate governance standards.” “Every award given by such prestigious Institute as ICSI would encourage the awardees to do better and maintain the high standard set by ICSI,” he added.

The Minister further said, “All of us together, the ecosystem of industry, private sector, institutions like ICSI, industry bodies and government are equal stakeholders in the future  of our country.”

The Institute of Company Secretaries of India organised the ICSI National Awards for Excellence in Corporate Governance 2020 on Wednesday.

Instituted for inculcating a pervasive consciousness of the need for good governance in India INC., the award recognises the impeccable performances by Corporates and professionals in the Corporate Governance arena.

The grand event witnessed the conferment of honorary degree of the ICSI on Kumar Mangalam Birla, Chairman, Aditya Birla Group.  In his acceptance speech, Birla said, “It is a privilege to be the first industrialist to be receiving the honorary degree of such a prestigious institute as the ICSI and an honour to have received it from Hon’ble Minister Shri Piyush Goyal. The CS community has been helping navigate the governance culture throughout the country even in the time of pandemic. The Company Secretaries are the heroes of the country and I am proud to be a part of them.”

The ICSI Lifetime Achievement Award for translating Excellence in Corporate Governance into reality was conferred on Dr. Cyrus S. Poonawalla, Chairman, Group Poonawalla.

The 20th ICSI National Award for Excellence in Corporate Governance for Best Governed Large, Medium, and Emerging Company in Listed and Unlisted Category, was presented to ITC Limited, TATA Metaliks Limited, Vaibhav Global Limited, Numaligarh Refinery Limited, Talwandi Sabo Power Limited, and Arohan Financial Services Limited.

To acknowledge the commitment of business houses in integrating social and environmental concerns with their business operations, the Institute presented the 5th ICSI CSR Excellence Award to Reliance Industries Limited, Natco Pharma Limited and Minda Industries Limited.

Aimed at recognising the importance of the Secretarial Audit Report, ICSI instituted Best Secretarial Audit Report Award last year. This year the award was presented to CS Makarand Joshi, for Secretarial Audit Report of Mahindra Logistics Limited.

In his Presidential address, ICSI President CS Ashish Garg said, “Since its inception, the ICSI National Awards for Excellence in Corporate Governance has been valuing and acknowledging ethical, social and ecological responsibility of Corporates and Professionals. As an extended arm of the regulatory authorities, the role of ICSI has become more profound today in creating a strong governance framework in the country.”

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