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Shri Aditya Prasad Padhi, IAS, Chief Secretary, Odisha inaugurated the ICSI – CCI Joint National Seminar today at Bhubaneswar

Bhubaneswar ,15.07.2016 (By Mano Mani Singh)-The Institute of Company Secretaries of India (ICSI) and Competition Commission of India (CCI) jointly organised a National Seminar on “Laws & Economics of Competition” at Bhubaneswar today (15/07/2016).Shri Aditya Prasad Padhi, IAS, Chief Secretary & Chief Development Commissioner, Government of Odisha addressing during the National Seminar at Bhubaneswar

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 Sitting from (L to R), CS Vineet K Chaudhary, Council Member, the ICSI, Shri Soumya Ranjan Patnaik, Chief Editor, the Sambad, Shri Aditya Prasad Padhi, IAS, Hon’ble Chief Secretary, Odisha, CS Mamta Binani, President, the ICSI, Shri S.L. Bunker, Hon’ble Member, CCI & CS Ashok Ku Mishra, Chairman, ICSI, Bhubaneswar Chapter..

Shri Aditya Prasad Padhi, Hon’ ble Chief Secretary, Govt of Orissa, was the Chief Guest.Shri Aditya Prasad Padhi, IAS, Hon’ble Chief Secretary, Odisha while inaugurating the seminar  congratulated The Institute of Company Secretaries of India (ICSI) and Competition Commission of India (CCI) for organising the seminar in Odisha and creating a platform for continuous capacity building of the professionals.Shri Padhi also said that, Competition is welcome for the growth of any economy. The State Government has taken many initiatives for ease of doing business, online system for addressing the problems of industrialist, single window clearance system, skill development of youth. Company Secretaries can play an important role in ensuring compliance of laws which will help the society to gain in this competitive situation.Shri S.L. Bunker, Hon’ble Member, Competition Commission of India while addressing the Seminar informed on the developments pertaining to   Competition Law in the Country. He said that, “any company/organisation should identify the risks leading to violation of competition. Competition being fundamental characteristic of a flexible and dynamic market economy, its benefit accrue to consumers, businesses and Corporate Stakeholders. It benefits consumers by enabling them to choose from a wide array of quality products at affordable prices; businesses benefit from lower prices as consumers of raw materials or intermediate products, which augments their competitiveness; and the economy benefits as competition fosters innovation, increases productivity and leads to accelerated economic growth”, he informed.

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Shri Soumya Ranjan Patnaik, Chief Editor, the Sambad in his address said that Company Secretaries are conscious keeper of Companies and the society. The ICSI & Competition Commission of India can work together in promoting competition of not only for the betterment of the consumers but also to all citizens of the Society in other fields.CS Mamta Binani, President, The Institute of Company Secretaries of India (ICSI) in her presidential address said that, “Developing countries like India face unique challenges in the enforcement of competition law.  The problems of under development, Institutional design and government regulation are some real-world challenges that have to be recognized for the successful implementation of an antitrust regime” she added. “A competition law enforcement regime cannot operate in isolation.  It has to be shaped and transformed by the existing socio-economic ideology and by other available policy tools.” She further added.President, The ICSI also emphasized that, “A well implemented Competition Law is essential for good corporate governance.  It influences investment decisions and plays a key role in the ways in which societies design mechanisms to distribute the benefits and bear the costs of development strategies and policies”. “Company Secretary of a company is a valuable piece of Corporate Governance Architecture” she said. Also Company Secretaries are required to manage companies within the framework of many of the regulations and at the same time ensure that firms remain in competition and profitable.  Competition Law, is the legal instrument designed to prevent anti-competitive business practices by firms. Effective competition policy is always an important constituent of a good regulatory and business environment. Therefore, compliance with Competition Law is crucial.  This is more so becausetomorrow’s corporate managers will have to operate in a regulatory climate which is more challenging and has ‘Zero tolerance’ for any non-compliance, she addedCS Vineet K Chaudhary, Council Member, The ICSI, also addressed the delegates and said that, “Competition policy is broadly interpreted to include policies that enhance competition in local and National markets.  It is said to be the fourth pillar of government’s economic policy along with fiscal policy, monetary policy, and trade policy.Distinguished speakers including  Mr Ashok Kumar Meena, IAS, Special Secretary (Finance), Odisha, CS M. S. Sahoo, Hon’ble Member, Competition Commission of India,  Prof.( Dr.) Srikrishna Deva  Rao, Vice- Chancellor, National Law University Odisha, Mr. Anil Kumar, Advisor (Eco) Competition Commission of India, Dr. K.C. Mishra, former Vice Chancellor, Sri Sri University, Mr. G R Bhatia, Partner, Luthra & Luthra, Mr. Sangram Patnaik, Advocate, Mr. Dilip Satapathy, Chief Resident, Editor, the Business Standard Limited,  Mr. Arabinda Acharya , CS & Head (HRD, Estate & Legal), IDC of Odisha Ltd , CS Akhilesh Srivastava, Advocate also addressed the participants on the topics “Agreements, Abuse of Dominance and Combinations, Investigations, Enforcements and Adjudications, NCL& NCLAT: Law and Practice” in the technical sessions:CS Ashok Kumar Mishra, Chairman, Bhubaneswar Chapter of ICSI delivered the welcome Address.The Seminar was well attended by corporate executives, Company Secretaries, Chartered Accountants, Cost Accountants, other professionals and faculties of various Institutions.

Press Conference

ICSI PRESS CONFERENCE at Bhubaneswar today

Sitting from (L to R);CS Vineet K Chaudhary, Council Member, the ICSI, CS Mamta Binani, President, the ICSI & Shri S.L. Bunker, Hon’ble Member, Competition Commission of India.

ICSI has organised a Press Conference today (15/07/2016 at Bhubaneswar.While addressing the Press Conference, CS Mamta Binani outlined about the objective of organising ICSI-CCI joint National Seminar today (15/07/2016) at Bhubaneswar on the topic “Laws & Economics of Competition”.She also spoke about the mission & vision of the ICSI, various initiatives undertaken by the ICSI Council, Role of a Company Secretary both in employment as well as in practice, its career prospects, current students and member’s strength in India & Odisha, ICSI to conduct CS Olympiad this year. She also spoke for opening of more study centres in Odisha for the students pursuing CS course in the remote parts of the State.Shri S.L. Bunker, Hon’ble Member, Competition Commission of India spoke about the MOU signed with the ICSI. He also spoke about the role of CCI.CS Vineet K Chaudhary, Council Member, the ICSI also addressed the Press Conference.

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