Making profits is important. But, compliance will not reduce your profits: Praveen Kumar, DG & CEO, IICA

Making profits is important. But, compliance will not reduce your profits: Praveen Kumar, DG & CEO, IICA

Making profits is important. But, compliance will not reduce your profits: Praveen Kumar, DG & CEO, IICAHyderabad, March 13, 2023: The Two-Day Certificate Course on Corporate Management and Governance jointly conducted by FTCCI and IICA of Govt of India concluded on Friday late evening.

Giving his valedictory address, Praveen Kumar, DG & CEO, IICA( (Indian Institute of Corporate Affairs), a central civil service training institute under the jurisdiction of the Ministry of Corporate Affairs, Government of India for the central civil servants of the Indian Corporate Law Service cadre, said the program was a first joint initiative and hope to continue the partnership. This partnership is experimental.

It is the business that drives growth and not the government. If the business grows, the country also grows. So also the prosperity of the nation. This is the feeling the country has today, he said

After the New Companies Act came into existence in the year 2014, now feather touch regulations have come in the place of strict compliance. Under the changed circumstances, you follow the law on your own. Though it sounds good, it is also dangerous. How do you keep vigil on 15 lakh companies.? Will all comply on our own? Sone May violate their freedom. One violates, everyone suffers, he said and added that the role of IICA is helping develop and maintain a knowledge Management system, covering all aspects, and issues relating to Indian and global corporate functioning/affairs. IICA organizes cap capacity-building grass.

There are so many new-age practices coming into existence like CSR. Now the new thing is ESG. Environmental, social, and corporate governance, also known as environmental, and social, governance. It is a framework designed to be embedded in ways to generate value for all organizational stakeholders. It is very important. IICA is developing training programmes around it now. It is a need of many corporates. A few years down the line, we may encounter situations where the disclaimer on future products may read that this product is ESG compliant.

Another emerging subject in the corporate world across the globe is Human Rights in Business. It is very important. IICA is taking baby steps in this subject. It may be a full blown subject for corporate training in future, Praveen Kumar said.

Business is important. Making profits is also important. But, compliance will not reduce your profits, he said.

The Course was aimed at all types of Directors and Prospective Directors, corporate managers, management consultants, entrepreneurs, corporate secretarial and legal professionals, risk management professionals, corporate planning and strategy professionals, legal counsels, qualified lawyers, and CA & CS professionals who will benefit greatly from this program.

40 corporate executives and senior leaders participated in the course. Later certificates were given away.

Mr. Anil Agarwal, President, Ms. Khyati Narawane, CEO, CA Naresh Chandra Gelli, Chair, Corporate Laws, IBC & ADR Committee, FTCCI, Sr VP Sri Meela Jayadev, and VP Sri Sureshkumar Singhal of FTCCI and others participated in the valedictory ceremony

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