Company Secretaries to be whistle blowers

Last Updated: Tue, Oct 02, 2012 19:01 hrs

The Institute of Company Secretaries of India (ICSI) on Tuesday said company secretaries would now take up the role of whistle blowers in order to maintain corporate governance.

ICSI is a professional body which develops and regulates the profession of company secretaries in India. “This is part of our vision to promote good corporate governance,” said B Narasimhan, chairman, Convention Organising Sub-Committee of ICSI.

A whistle blower is someone who exposes wrongdoing, fraud, corruption or mismanagement. In many cases, this could be an employee of a company who reports corrupt practices within the company. At present, there is no such designated whistle blower.

India does not have any law to protect whistle blowers, though a bill for the same is said to be in the pipeline.

ICSI, in a press release, said it would discuss this issue in its 40th National Convention of Company Secretaries to be held this week.

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