The course of Company Secretary in India covers several topics on law relevant to the corporate scenario. Competition law in India is an important aspect of the legal studies that such professionals need to master. With the opening up of the economy and the various conflicts that corporates face in the market and other scenarios, company secretaries need to be fully aware of the legal implications and need to be equipped to advice companies on such cases.

The Competition Act, the MRTP Act, Consumer Protection Act, Company Act and other statutes are much needed in today’s competitive scenario when there is constant conflict between the profitability of corporate ventures versus the welfare of consumers and society at large. Company secretaries bear the responsibility of advising corporates on how to stay on the right side of law in such cases.

Competition Law As the national boundaries disappear when it comes to trade and commerce, there is increase in competition and more pressure on organizations to become leaner with stress on higher efficiency and achieving technological excellence. In such corporate scenarios company secretaries need to balance the requirements of business with compliance with legalities. Such professionals are called upon to look into the finance and accounting, audit reports, budgeting, materials management, commercial and overall administration, besides the standard legal and secretarial functions.

Corporate governance is also gaining importance as more and more listed companies need to practice principles of sound governance. Company secretaries are well trained on corporate governance principles and laws and are in a position to guide businesses on practicing good corporate governance.

With the opening up of the economy and increasing competition, there are many activities such as joint collaboration, foreign collaboration, takeovers, acquisitions, mergers, information technology and associated cyber laws which are newer areas where legal and statutory provisions need to be looked into and companies are turning for advice and guidance from company secretaries in such aspects. Sustaining market confidence, settling of commercial disputes are new focus areas where company secretaries need to show their competence and build their expertise in.

In this regard the ICSI institute has considerable foresight in offering its expert services to the government bodies. They also guide practicing and working CS professionals in staying updated with the latest changes in the legal and statutory scene in the country; continuing education programmes are also formed to keep company secretaries updated in latest developments in laws, statutes, corporate governance and other focus areas.

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