Srinagar, Jan 10: Endeavouring to develop profession of Company Secretaries in Kashmir, the Srinagar Chapter of ICSI just five years of its revival is on way to achieve new heights.
 According to Executive President, J&K Bank, Parvez Ahmad, who was recently elected for the sixth consecutive term as chairman of Srinagar Chapter of the Institute of Company Secretaries of India, 40 students have qualified foundation and executive programme of the institute and around 10 students are at the final stage of qualifying final examination.
 Speaking to a select media gathering here, Ahmad said: “The chapter made its humble beginning with a small group of 10 students and grant of Rs 10,000 from NIRC of ICSI on October 2, 2005.
 “Right now it is providing guidance and direction to the aspirants and the facilities relating to admission, coaching, library and examination centre.”
 “Not just that the chapter is also providing part-time employment to some persons who are managing its day-to-day operations.”

Pre-1990s
 The Srinagar Chapter of ICSI was operating till 1988 in the Kashmir University while its examination centre was located at Srinagar Regional Engineering College. 
 The centre was closed by the Institute in 1988 due to the disturbed conditions in the Valley. 
 Ahmad said: “After my return to Kashmir I observed that students and parents were facing lot of problems in getting guidance for admissions and appearing in the examination from the Centres outside the state, particularly the females and poor students.”
 “Several agencies were exploiting the students for obtaining the admissions in the ICSI course by demanding hefty amounts, which otherwise is available to all eligible students after paying the nominal registration fees.”
 “Appreciating such problems the members of the Institute decided to establish the Chapter and revive the examination centre.  However, establishment of the Chapter in Kashmir region was not an easy task mainly due to the absence of requisite number of members and students required as per the Institute guidelines,” he said.
 Ahmad said after great persuasion, the Central Council of Institute brought an amendment in the Company Secretaries Satellite Chapter Regulations paving way for reviving the Srinagar Chapter and to accommodate interested students of Kashmir region. 

Backup support:
 Ahmad lauded J&K Bank for its “full moral and financial support” to establish the Chapter. He said the Bank was also instrumental in the revival of Chapter and examination centre.  “S P College and Kashmir University also deserve kudos for providing the space for office, coaching classes and examination centre.”

Infrastructure
 Ahmad said the state needs infrastructure to take advantage of the inter-related professional courses like Chartered Accountancy, Cost Accountancy and Company Secretaryship.
 “These have lot of potential for bringing radical changes in the business and economic enterprise of the state. Outside state, the students are pursuing multiple courses simultaneously.  In order to replicate the same here, we need to create a common infrastructure having the facilities relating to the establishment of Chapters, library, examination centres, coaching centres, conference rooms and hostel facilities which can be shared by the Chapters of various professional Institutions.”
 “This kind of soft infrastructure for developing our society would in the long run prove very beneficial,” he said, adding that as chairman Srinagar Chapter ICSI he was mobilizing the support of the professionals in the valley to make a joint representation to the State Government for developing this kind of infrastructure.

Role of professionals:
 “J&K is at a very critical juncture in our evolution as an economic society and the J&K state is full of rich resources. Professionals have a greater role to play in exploring these resources in an organised manner and reaping the benefits for the overall development of the state,” he said.
 Ahmad said: “The professionals have to encourage the entrepreneurs to corporatize and organise their business with a view to provide comfort to Banks and Financial Institutions to lend to these organised Businesses.”
 “Despite rich economy the state is not generating enough value which could be invested by the Government in the economy for bringing growth.  With a view to address these issues we need policy action and an enabling environment in terms of infrastructure and professional support and competency for the promotion of economic development of J&K and these problems need to be addressed by the professionals.”
 Ahmad said:  “J&K has a rich history and enabling environment for setting-up knowledge based and service industries and professionals have to play a major role in providing strategic direction and guidance to the various stake holders.  Also as a society we should acknowledge and appreciate initiatives of individuals, organizations and public and private enterprises which will generate value for the society instead of digging too much to unearth the real intentions of such initiatives.”

Role of JK Bank
 Ahmad said J&K Bank being the prime corporation of J&K, has to play, and is playing a great role in the overall transformation of the J&K economy and bringing about professionalism in the state.
 He said: “The Bank is state’s prime corporation having a vested interest in playing an important role in the economic and social transformation of the state.”
 About the bank’s initiatives he said” “The Bank is providing public and private services, financial infrastructure and employment.  It is a grand success story of public – private partnership about which the people of J&K feel proud and recognized.”
 “The Bank,” he said “is playing an innovative and meaningful role in the economic and social transformation of the state.”
 “The great success of this Institution is attributed to the good governance practices which have been adopted from the very beginning in terms of efficiency, accountability and excellent leadership which has generated lot of value for all its stakeholders namely the shareholders, employees, customers and society at large.”
 “Being the only listed company from the state and having the foreign institutional holding to the extent of 25 per cent held by high quality foreign institutions, enjoins upon the management to manage and conduct the affairs of the Bank with international standards,” he said. 
 Ahmad said the values responsible for the great success of J&K Bank needs to be adopted by the individuals, public and private enterprises with a view to replicate such success stories so that “we can move to the world of tomorrow to meet global standards.”

Company Secretary
 “The position of the Company Secretary carries lot of significance in the corporate management hierarchy and behind the great corporate progress there is a strong backbone -  the Company Secretary,” Ahmad said. 
 “By virtue of integrated knowledge of multiple disciplines of law, management, finance and corporate governance, a Company Secretary is the vital link between the Company, its Board of Directors, Shareholders, Government and other Agencies,” he added. 
 Ahmad said: “A Company Secretary being multi-disciplinary professional renders services as practising professional for the efficient conduct of business and compliance of various business laws to small and medium sized Business Houses which cannot afford to appoint a full time Company Secretary.” 

Lastupdate on : Tue, 10 Jan 2012 21:30:00 Makkah time
Lastupdate on : Tue, 10 Jan 2012 18:30:00 GMT
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