Thread by @SahayVineet

#CS_are_at_Risk The draft notification uploaded on the mca portal provided an amendment having effect that the paid up capital threshold to appoint a whole time company secretary in a private limited company to be increased from Rs. 5.00 Crore to Rs. 10.00 Crore.
1/n

Such increase in paid up capital is a really harsh step against those who are company secretary in employment and those who are pursuing CS Course with an aim to pursue his career as an employee.
@icsi_cs is requested to look into this matter.
#CS_are_at_Risk
2/n

@icsi_cs The opportunities for CS in practice are very limited, they have very little scope to do auditing and taxation field. Thus for an unemployed CS, practice is not a better option to avail.
#CS_are_at_Risk
3/n

@icsi_cs The economy is not growing with such a pace that it will absorbed the impact of increase in ceiling from 5 Cr. To 10 Cr. in result of this several company secretary will be at risk to lose their job.
#CS_are_at_Risk
4/n

@icsi_cs In the company which are above the ceiling of 10 Crore or above, the bargaining capacity to getting respected salary will also reduce. As several CS who lost their job by increasing in the salary will be free to quote less salary.
#CS_are_at_Risk
5/n

@icsi_cs Taking inflation into the account the increase in limit seems to be logical but the job of company secretary is linked with compliances.
#CS_are_at_Risk
6/n

@icsi_cs I am asking to the govt. what compliances is going to change in respect to companies having paid up capital is in between 5Cr to 10 Cr. that the Govt.
#CS_are_at_Risk
7/n

@icsi_cs What option left for a CS who will at risk of losing job on account of increase in Share capital limit? What they will do, what are the new avenues opened by the Govt.
#CS_are_at_Risk
8/n

@icsi_cs Company Secretaries in practice who are doing compliance works are already not getting full support from Industry as well as Govt. in every place, company secretaries have not exclusive authorities, they are coupled CAs/CMAs and Lawyers.
#CS_are_at_Risk
9/n

@icsi_cs It seems that @icsi_cs is sleeping all the time, are they going to make representation before the ministry and ask some relaxation?
#CS_are_at_Risk
10/n

@icsi_cs In many field CS can do better job, if they are trained like GST/Income Tax/Customs/Sports Laws/Art Laws/Space Laws/employment laws/labour laws n so on...
#CS_are_at_Risk
11/n

@icsi_cs But since no Senior CS are present in industry to nurture young CS. Institute and Council members is also sleeping all the time, though they are engage in photo ops....
#CS_are_at_Risk
12/n

@icsi_cs If ICSI develop one new area of employment/practice in every year or two/three years or even in five years, the dependence on 383A will go away.
#CS_are_at_Risk
13/n

@icsi_cs I have not seen any new are opened by institute for last twenty years. The real culprit is our institute and institution bosses indeed.....
#CS_are_at_Risk
14/n

@icsi_cs Industry never realised that what a company secretary could do apart from compliance job, and our institute @icsi_cs failed to make such awareness.
#CS_are_at_Risk
15/n