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Well managed companies attract equity investors: Nirmala Sitharaman

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Nirmala Sitharaman said that Indian companies have performed exceptionally well in the last one year.

New Delhi: Finance Minister Nirmala Sitharaman on Monday said advice given by company secretaries to businesses is going to make a big difference as only “well-managed” companies following good governance practices are attracting investors.

He also said that Indian companies have performed exceptionally well in the last year in terms of attracting investments due to their transparency and better compliance.

“In the last few years, the rate at which compliance related issues have been passed on to corporate investors, well-managed companies, companies more transparent in their functioning, companies that follow principles of good governance, board driven principles, not only large investors, but small retail investors. are also attracting many investors.

“And so, in order for a company to flourish and expand in its area of ​​operation, to ease the role of the company secretary, to prepare the company to follow the guiding principles that you advise them can, is going to make a huge difference,” Ms Sitharaman said.

She was addressing a program organized on the occasion of 53rd Foundation Day of the Institute of Company Secretaries of India (ICSI).

He said that at a time when the government is trying to bring in amendments to do away with the old laws and to reduce the penal provisions in the Companies Act, the scope of work of the Company Secretary is expanding.

“Between 2020 and today, you see a lot of retail investors are taking interest in the stock market in India…

“… a lot of investors, retail investors are going into the market, companies are attracting a lot of money from abroad, all this is possible only because you (company secretary) are in it and companies need to follow better compliance. Doing a good job of giving advice,” the minister said.

Stating that it is the Company Secretary who made it possible for businesses to show their strength in the last two years to potential investors, Ms Sitharaman said that it will be an interesting phase for all those who are now in this profession with new challenges. are coming. form of technology.

(This story has not been edited by NDTV staff and is auto-generated from a syndicated feed.)

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