ICSI Ahmedabad and i-Hub Empower MSMEs and Startups with Crucial Seminar on Governance and Compliance

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BILKULONLINE

Ahmedabad, May 18: In a significant move to bolster the MSME and startup ecosystem, the ICSI Ahmedabad Chapter, in collaboration with i-Hub, an initiative by the Government of Gujarat, organized a full-day seminar for members of the Institute of Company Secretaries of India (ICSI). The seminar, themed around the crucial role of Company Secretaries in supporting MSMEs and startups, attracted approximately 200 professionals and was held at the i-Hub Auditorium, Gujarat University.

Distinguished Dignitaries:

Mukesh Kumar, IAS – Principal Secretary, Higher & Technical Education, Department of Education, Government of Gujarat.
CS B. Narasimhan – President, The ICSI.
M. Nagarajan, IAS – Collector, Mehsana.
R. D. Barhatt – Joint Commissioner of Industries, Government of Gujarat.
Hiranmay Mahanta – CEO, i-Hub.

Highlights of the Event: 

The event featured addresses from these esteemed dignitaries, who emphasized the pivotal role that Company Secretaries play in the governance and compliance structures of MSMEs and startups. They discussed how these professionals can drive growth, sustainability, and innovation in these sectors.

Mukesh Kumar, IAS highlighted the government’s commitment to fostering a robust educational and technical framework that supports emerging businesses. CS B. Narasimhan, President of ICSI, underscored the importance of compliance and good governance in scaling startups to unicorn status.

Key Initiative:

A significant outcome of the seminar was the announcement of a collaboration between ICSI and i-Hub to develop a comprehensive module. This module will provide an in-depth analysis of compliance and governance concepts tailored for MSMEs and startups.

Hiranmay Mahanta and CS B. Narasimhan expressed their optimism that this initiative would create a strong support platform, helping businesses navigate challenges and achieve long-term success.

The seminar marks a step forward in creating a conducive environment for MSMEs and startups in Gujarat, equipping them with the tools and knowledge needed to thrive and potentially transform into unicorns.

Important Role of Company Secretaries in Nation Building: 

Company secretaries play a crucial role in the governance and compliance structures of MSMEs (Micro, Small, and Medium Enterprises) and startups. Some key aspects of their role include:

Compliance Management: Ensuring that the company complies with all legal and regulatory requirements, including filing of statutory returns and maintaining statutory registers.

Governance Framework: Developing and maintaining effective governance policies and procedures to ensure transparency and accountability within the organization.

Board Support: Assisting the board of directors in understanding their roles and responsibilities, organizing board meetings, and ensuring that decisions are implemented.

Risk Management: Identifying and mitigating risks that could impact the company’s operations or reputation.

Secretarial Audit: Conducting regular audits to ensure compliance with applicable laws and regulations.

Legal Advisory: Providing legal advice on various matters, including contract negotiations, intellectual property rights, and corporate governance issues.

Ethical Practices: Ensuring that the company adheres to ethical practices and follows principles of good corporate governance.

CS B. Narasimhan– President, The ICSI, with CS Yash Mehta is the Chairman of ICSI, Ahmedabad chapter. CS Jaymeen Trivedi and  CS Abhishek Chhajed, regional Council Member of WIRC of ICSI were present at the media interaction which was addressed by the ICSI President.