The Institute of Company Secretaries of India (ICSI) and Mangalore University have signed a memorandum of understanding under which the ICSI will present a gold medal to the B.Com topper of Mangalore University.
Chethan Nayak, chairman, Mangaluru Chapter, ICSI and P.S. Yadapadithaya, Vice-Chancellor, exchanged the MoU document at the university on Monday.
The ICSI is presenting this gold medal instituted under The ICSI Signature Award scheme to toppers of B.Com courses in State universities. The institute will present a gold medal each year in the signatory university.
Speaking on the occasion, Mr. Nayak said the institute was presenting the medal to popularise the company secretary course among students. While the topper will receive a gold medal worth ₹25,000 this year, the next three toppers in the course will be given the option to study the two-and-half-year course of ICSI for free. Noting that the ICSI head office normally takes up to two months to vet a proposal sent by its local branch to institute the gold medal, Mr. Chethan said in the case of Mangalore University, this approval was sent within 24 hours. This shows the standing of the 39-year-old university in the academic arena in the country.
Mr. Yadapadithaya said that the Associate of Company Secretary title that a student completing the foundation, executive and final course offered by the Institute will stand a good chance of moving up the corporate ladder. The ICSI is committed to providing the gold medal as per university statute every year as per the MoU, he said.
Prasanna Patil, vice-president, Mangaluru Chapter, ICSI, said the amendment to Companies Act, 2013, has mandated that companies with an equity of ₹10 crore and above must compulsorily have a company secretary, who will look into issues pertaining of setting up of board and other legal issues. A.M. Khan, Registrar (administration) and V. Ravindrachary, Registrar (Evaluation), were present.
