Over 28,700 company secretaries at present;No is adequate: Government

NEW DELHI :The Corporate Affairs Ministry today said the existing number of over 28,700 company secretaries is likely to be adequate to meet the current demand.

The assertion comes amid the new companies law proposing to have one company secretary as a whole-time key managerial personnel.

"As per information provided by the Institute of Company Secretaries of India (ICSI), there are 28,719 members on the roll of ICSI," Corporate Affairs Minister Sachin Pilot informed the Lok Sabha in a written reply.

According to the Minister, this number is likely to meet the current and emerging demands.

"Further, 48,697 persons are pursuing the professional programme as on March 31, 2013," he added.

Replying to a question on norms for company secretaries in small and medium enterprises, the Minister said the new companies bill has a provision that every firm belonging "to such class or classes of company as may be prescribed" would have a company secretary as a whole-time 'Key Managerial Personnel (KMP)'.