‘CSR should mingle with corporate culture’

CHENNAI: Corporate Social Responsibility is to be taken from ‘Company’s Vision’ to ‘Country’s Vision’, said Salman Khursheed, Minister of State for Corporate Affairs, while inaugurating the 38th National Convention of Company Secretaries in Kolkota on Friday.

Referring that corporates are the cutting edge to economic growth, he spoke about the importance of corporate democracy, industrial democracy, stakeholder dialogue with the board, etc.

He referred to Company Secretaries as centre point in not only advising and guiding the Boards of Companies, but also cautioning them against any mis-governance.

He said, “The injury to the company is an injury to the entire system and quoted the examples of Satyam Scam and Bhopal Gas Tragedy. The attitude and culture towards inclusive growth has to be inculcated and nurtured in all corporates.”

The Minister welcomed the recommendations of Parliamentary Standing Committee on Companies Bill which covered various aspects, including Secretarial Audit, rotation of auditors, role of independent directors, etc.

The Minister said CSR is no longer a charity or a matter of philanthropy. It should be imbibed in the corporate culture that leads to responsible business. R Bandyopadhyay, Secretary, Ministry of Corporate Affairs, said that the Ministry of Corporate Affairs had got special attachment towards Company Secretary profession. “The upliftment of Aam Admi is crucial for economic growth and the entire Ministry is working towards this direction.’’

U Venkataraman, Executive Director, MCX-SX Ltd, said 3G is the buzz word covering three aspects namely, inclusive growth, corporate governance, creation of new generation investors.