ICSI plans governance code based on ancient scriptures

Company secretaries' apex body ICSI plans to soon come out with a governance code based on ancient scriptures and a panel is already poring over Ayodhya Kand, Vidur Neeti and other works in this regard.
The Institute of Company Secretaries of India (ICSI), a statutory body set up under an Act of Parliament, has more than 52,000 members.
"We are studying and soon we hope to come out with a governance code based on our ancient scriptures and principles while equally matching the modern corporate thought," ICSI President Shyam Agrawal told PTI.
A committee is already working on the initiative and the institute is looking to have a governance code that is based entirely on Indian system and values.

"We are studying the ancient governance mechanism of our country... Like we are studying the Shanti Parva, Ayodhya Kand, Vidur Neeti and Chanakaya (writings)," he said today.
While Shanti Parva and Vidur Neeti are parts of the Mahabharata, Ayodhya Kand is part of the Ramayana.

"We are the governance professionals and we have started study on the governance system... I personally started reading ancient Vedic system," Agrawal said.
He also expressed hope that the code would be ready by the end of this year.
The institute is also working on having a governance code with respect to charitable institutions.
Besides, it has formulated a 'corporate anti-bribery code' for private sector and a model governance code for meetings of gram panchayats.