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.