CHALLENGES FOR THE COMPANY SECRETARIES AND PROFESSIONALS DUE

CHALLENGES FOR THE COMPANY SECRETARIES AND PROFESSIONALS DUE TO CORONA PANDEMIC AND LOCKDOWN. BY- YATIKA BHATI CS-EXECUTIVE

IMPACT OF COVID-19 ON COMPANY SECRETARIES As everyone is aware, the world is experiencing extraordinary challenges on account is COVID-19 – the coronavirus pandemic –which is trying to erase development gains for many countries. The pandemic has profoundly impacted human capital, including lives, learning, basic well-being and future productivity. So far, have heard and read about the impact of this COVID-19 on the industries across all sectors, economies of various countries , follow on consequences on the societies etc.

ROLE OF COMPANY SECRETARIES AS STRATEGIC GOVERNANCE PROFESSIONALS q THE ROLE OF PROFESSIONALS INCLUDING COMPANY SECRETARY (CS) IN THIS CRISIS IS AMPLIFIED. q AS BOARDS SEEK SUPPORT AND GUIDANCE ON VARIOUS STRATIGIC, GOVERNANCE AND COMPLIANCE ISSUES, WHILE THEY NAVIGATE UNPRECEDENTED CHALLENGES. q WHILE ONLINE VIEWING OF DOCUMENTS FROM PUBLIC DOMAIN HAS BEEN A COMMON THING IN THE PAST DECADE, REMOTE AUDIT IS DEFINITELY A NEW EXPERIENCE. q PERHAPS , ICSI SHOULD COME OUT WITH SOME SORT OF ADVISORY/GUIDANCE NOTE WITH RESPECT TO REMOTE AUDIT WHICH WOULD COME IN HANDLY TO THE PCS. q THIS OPPORTUNITY SHOULD BE TAKEN BY CORPORATES TO DEVELOP INHOUSE FACILTIES TO MAINTAIN DOCUMENTS IN ELECTRONIC FORM.

ü THE ECONIOMIC IMPACT OF THE 2020 CORONAVIRUS PANDEMIC IN INDIA v. India’s growth in the fourth quarter of the fiscal year 2020 went down to 3. 1% according to the ministry of statistics.

CONCLUSION While the entire economy is reeling under the pressures of the current situation, ‘ADAPTATION’ IS THE KEY. “COMPANY SECRETARIES” need to bridges the technological gap as well as strategize their role and practice in accordance with the changing times. With government rolling out plans for businesses to mollify the situation, company secretaries are also required to stay updated with all the key developments and come up with acceptable solutions to help businesses sail through the tide smoothly. “COMPANY SECRETARIES” could also benefit by being personally and professionally available though B 2 B social media channels. The current time can be utilized in link building and gaining some visibility by sharing expertise wherever an opportunity presents itself.