Full Text
REGD. No. D. L.-33004/99
The Gazette of India
CG-DL-E-20092025-266279
EXTRAORDINARY
PART III—Section 4
PUBLISHED BY AUTHORITY
No. 632] NEW DELHI, TUESDAY, SEPTEMBER 16, 2025/BHADRA 25, 1947
THE INSTITUTE OF COMPANY SECRETARIES OF INDIA
NOTIFICATION
New Delhi, the 25th August, 2025
REPORT OF THE COUNCIL
F. No. 104/45/Accts. -1.—(A) INTRODUCTION
In terms of the requirements of sub-section (5B) of Section 18 of the Company Secretaries Act, 1980, the Council of The
Institute of Company Secretaries of India (ICSI/the Institute) is pleased to present its 45th Annual Report and Audited
Statements of consolidated accounts along with the Auditors’ Report thereon for the Financial Year ended 31 March, 2025.
The major programmes and activities organized and initiatives taken subsequent to the above period, till 31 May, 2025 have
also been included in this Report.
President and Vice-President
CS Dhananjay Shukla and CS Pawan G. Chandak were elected by the Council as President and Vice-President of the Institute
respectively, w.e.f. 19 January, 2025.
Council Meetings
The Council held 9 Meetings during the Financial Year 2024-25.
Composition of Committees
The composition of various Standing and Non-Standing Committees, Boards, Task Force and Outside Committees is given at
Annexure-A. Details of Meetings held and attended by the Members of Council and Committees / Boards are placed at
Annexure-B.
Statistics at a glance
The region wise statistics of Members and Students for the period under report is as follows:
MEMBERS
+----------+------+-------+------+-------+-------+
| As on | EIRC | NIRC | SIRC | WIRC | Total |
+----------+------+-------+------+-------+-------+
| 31.05.2025 | 7032 | 27146 | 14487| 27374 | 76039 |
| 31.03.2025 | 7009 | 26998 | 14132| 26969 | 75108 |
| 31.03.2024 | 6879 | 25989 | 13630| 26012 | 72510 |
+----------+------+-------+------+-------+-------+
MEMBERS IN PRACTICE
+----------+------+-------+------+-------+-------+
| As on | EIRC | NIRC | SIRC | WIRC | Total |
+----------+------+-------+------+-------+-------+
| 31.05.2025 | 1034 | 4132 | 2235 | 4147 | 11548 |
| 31.03.2025 | 1023 | 4101 | 2210 | 4140 | 11474 |
| 31.03.2024 | 1029 | 4188 | 2197 | 4139 | 11553 |
+----------+------+-------+------+-------+-------+
NUMBER OF STUDENTS FOR REGULAR PROGRAMME
+----------+-------+-------+-------+-------+--------+
| As on | EIRC | NIRC | SIRC | WIRC | Total |
+----------+-------+-------+-------+-------+--------+
| 31.05.2025 | 21191 | 59203 | 41570 | 65973 | 187937 |
| 31.03.2025 | 20613 | 57630 | 40611 | 64574 | 183428 |
| 31.03.2024 | 20690 | 57874 | 40429 | 65326 | 184319 |
+----------+-------+-------+-------+-------+--------+
NUMBER OF STUDENTS FOR CSEET
+--------------------------+------+-------+------+-------+-------+
| Period | EIRC | NIRC | SIRC | WIRC | Total |
+--------------------------+------+-------+------+-------+-------+
| 2025-26 (till 31.05.2025) | 1817 | 5255 | 2472 | 5537 | 15081 |
| 2024-25 | 4868 | 15272 | 7905 | 16205 | 44250 |
| 2023-24 | 5298 | 14960 | 9281 | 17205 | 46744 |
+--------------------------+------+-------+------+-------+-------+
(B) STRENGTHENING CORPORATE GOVERNANCE
In an era where the resilience of institutions is tested not just by regulations, but by values, the ICSI continues to champion a
more evolved vision of corporate governance—one that moves beyond procedural compliance to embed ethical foresight,
strategic stewardship, and stakeholder-centric thinking at the heart of enterprise. As custodians of governance, Company
Secretaries are being called upon to shape boardroom conversations, pre-empt risk with integrity, and lead organisations
towards decisions that are not only profitable, but principled. Through its initiatives, dialogues, and recognitions, ICSI reaffirms
its belief that governance is not a framework to be followed—it is a culture to be cultivated.
(i) 24th ICSI National Awards for Excellence in Corporate Governance, 2024
In its continued commitment to promoting a robust culture of corporate governance across India Inc., the ICSI instituted the
“ICSI National Awards for Excellence in Corporate Governance” in the year 2001. Over the past two decades, the Awards
have evolved into a hallmark of governance distinction, celebrating exemplary boardroom practices and ethical leadership.
Acknowledged and respected across industry circles, these accolades serve not only as a benchmark for corporate integrity, but
also as a driving force inspiring companies to embed governance excellence into their core values.
The year 2025 marks a momentous milestone as the Institute celebrates the Silver Jubilee – 25 glorious years of the ICSI
National Awards for Excellence in Corporate Governance. As the Awards step into their 25th year, the ICSI envisions them not
merely as a celebration of the past, but as a catalyst for shaping the future of governance in India.
The selection process for the ICSI National Awards for Excellence in Corporate Governance follows a rigorous and
comprehensive evaluation framework. An Expert Group, comprising eminent professionals from industry and practice, is
constituted annually for each award category. This group provides guidance on framing the evaluation methodology and
designing the assessment questionnaire.
Following the analysis of responses based on the Expert Group's questionnaire, the findings are presented to a distinguished
Jury for final selection. The Jury consists of experts from various fields and is typically chaired by a former Chief Justice of
India, ensuring the highest standards of integrity and expertise in the selection process.
The 24th edition of the ICSI National Awards for Excellence in Corporate Governance was held in Bengaluru, Karnataka on
20 December, 2024. The ceremony was graced by distinguished Guests of Honour, Shri Basavaraj S. Bommai, Member of
Parliament (Lok Sabha) & former Chief Minister of Karnataka; and Sri Madhusudan Sai, Founder of Sri Madhusudan Sai
Global Humanitarian Mission.
Award Winners for 2024
The winners for the year 2024 are mentioned hereunder:
+-------------------------------------------------------------+-----------------------------------------------------+
| 24th ICSI National Awards for Excellence in | Listed Segment |
| Corporate Governance | • Tata Steel Limited (Large Category) |
| | • Persistent Systems Limited (Medium Category) |
| | • V-Mart Retail Limited (Emerging Category) |
| | Unlisted Segment |
| | • TP Western Odisha Distribution Limited (Large |
| | Category) |
| | • Aditya Birla Health Insurance Company Limited |
| | (Medium Category) |
| | • Re Sustainability Limited (Emerging Category) |
+-------------------------------------------------------------+-----------------------------------------------------+
| 9th ICSI CSR Excellence Awards | • Cholamandalam Investment & Finance Company |
| | Limited (Large Category) |
| | • Schneider Electric India Private Limited (Medium |
| | Category) |
| | • Cyient Limited (Small & Emerging Category) |
+-------------------------------------------------------------+-----------------------------------------------------+
| 6th ICSI Best Secretarial Audit Report Award | CS Swetha Subramanian (for Secretarial Audit Report issued |
| | to Seshasayee Paper and Boards Limited) |
+-------------------------------------------------------------+-----------------------------------------------------+
| 4th ICSI Best PCS Firm Award | KSR & Co Company Secretaries LLP |
+-------------------------------------------------------------+-----------------------------------------------------+
| 3rd ICSI Business Responsibility and Sustainability | • Marico Limited (Non-Service Sector) |
| Awards | • Persistent Systems Limited (Service Sector) |
+-------------------------------------------------------------+-----------------------------------------------------+
| 24th ICSI Lifetime Achievement Award | Dr. B.V.R. Mohan Reddy, Founder Chairman & Board |
| | Member, Cyient Limited |
+-------------------------------------------------------------+-----------------------------------------------------+
(ii) Panchayat Governance Week Celebration
As part of the nationwide celebration of Panchayat Governance Week, programmes were organized across India through ICSI's
Regional Offices and Chapters. The initiative aimed to strengthen governance mechanisms at the grassroots level and promote
sustainable development practices in rural governance.
The National Programme on Panchayat Governance was hosted by NIRO at Hotel The Park, Sansad Marg, Connaught Place,
New Delhi on 19 April, 2025, under the theme "Fostering Sustainability & Strengthening Governance at the Grassroots".
This national-level programme served as the flagship event of the week-long celebration, bringing together key stakeholders,
policymakers, and governance experts to deliberate on critical issues affecting panchayat governance and explore innovative
solutions for sustainable rural development.
(iii) Secretarial Standards
Consistently aligning with its vision to enhance transparency and accountability in corporate functioning, the ICSI has been
instrumental in formulating and promoting the Secretarial Standards. These Standards, which set benchmarks for board
processes and corporate disclosures, are the first of their kind globally to be mandated by statute under the Companies Act,
2013. The Standards continue to serve as critical governance tools, ensuring procedural uniformity and enhancing transparency
across companies. The Institute remains steadfast in its efforts to uphold and periodically review these Standards in alignment
with evolving best practices