Law gives legal status to Company Secretary but not business
feasibility for the appointment of a Company Secretary in
employment of an organisation. Business feasibility could be
measured in term of value addition to the organisation not legal
addition to the organisation. The value addition may be in form of
increased profitability, wealth creation or confidence building
among its stakeholders. These stakeholders measure success not in
financial terms but through confidence towards an organisation
We have completed many stages; clerk, manager, general manager,
decision maker, managerial personal, Key managerial personnel and
next step the conscience keeper. Every height we gain always stands
on a solid foundation of a concrete mix customised for individual
need. So we need to look into basic foundation of our profession.
The litmus test to judge strength of basic foundation of any
profession is not its education, crowd of its student, number of
its members, this and that legal recognition, written ethical value
codes and International codifications but confidence put by its
real paymaster, the stakeholders.
Presently, company secretary is a person who has mandate to
analyse non-financial information and reporting it after
coordinating with all financial information. When, corporate
reporting is being shifted from merely financial data sheet to
overall reporting by putting equal weight to non-financial
reporting, it is a big responsibility. Non-financial reporting is
an art of understanding all material information, their impacts,
need and extends of reporting. All this depend not only on training
and calibre of person handling this assignment but much upon
conscience of corporate to decide why, what, when and where to
Conscience is an aptitude, faculty, intuition or judgment of the
intellect that distinguishes right from wrong. As a practical
judgment, conscience is the conclusion of a moral syllogism whose
major premise is an objective norm and whose minor premise is a
particular case or situation to which the norm is applied.
In light of Buddhist teaching, corporate conscience reflects in
fair treatment and growth for all stakeholders and society without
leaning toward profit for a particular interest group. Simply,
corporate conscience is a gradually intensifying way of corporate
life which guide corporate governance and lead it to do business
As a focal point for all stakeholders of organisation, company
Secretary not only guide them but also face pressure from all of
them. He acquires the position of referee. A conscious referee
could not be a toothless tiger. He has power within, power of love
for stakeholders, the power of awaken mind, the power of truth,
power to stand for his conscience and above all; power to stand for
conscience of his organisation, humanity and all stakeholders.
The conscience keeper is a fearless person. He can blow the
The term whistle-blower comes from the whistle a referee uses to
indicate an illegal or foul play. A whistle blower is a person who
tells the public or someone in authority about alleged dishonest or
illegal activities (misconduct) occurring in a government
department, a public or private organization, or a company.
A conscience keeper has duty to blow whistle whenever he find
anything which is not as per standard of conscience. Conscience
keeper simple pointed out wrong to stakeholders depending upon
circumstances of the case.
The content of this article is intended to provide a general
guide to the subject matter. Specialist advice should be sought
about your specific circumstances.
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The Ministry of Corporate Affairs notified on June 5, 2015 that certain provisions of the Companies Act, 2013 shall not apply to private limited companies or shall apply with such exceptions or modifications as directed in the notification.
Whilst trade and barter have existed since early times, the modern practice of forming business relationships through the means of contract has come into existence only since the industrial revolution in the West.
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