The Institute of Company Secretaries of India (ICSI) has requested the Government of Andhra Pradesh to recognise the company secretaries (CS) to offer their services to the cooperative sector and State level financial institutions.
Speaking at a seminar on Tax Efficient Corporate Funding organised by ICSI Hyderabad Chapter here, the ICSI President, Ms Preeti Malhotra, said as qualified members of the ICSI, the services of CS would benefit the financial health of State-level financial institutions and cooperative sector.
She requested the State Finance Minister, Mr K. Rosaiah, who was the chief guest at the seminar, to permit company secretaries to appear before Value Added Tax (VAT) Authority.
Due diligence role
In addition, we also request that the CS be given the task of conducting the due diligence in loan approvals by cooperative banks, she added.
The demand for CS had been growing phenomenally of late along with the remuneration packages.
This year, there was 30 per cent growth in the number of students over the previous year. The average salary for the talented freshers is at Rs 6.5 lakh per annum. The global offers for Indian CS are also growing, she pointed out. The ICSI is targeting to double its members from current 20,000.
Mr Rosaiah, who inaugurated the seminar, said the State Government would examine the request of ICSI and asked the Hyderabad Chapter to submit a formal note.
The one-day seminar was attended by over 200 participants from different parts of the country.