Bajaj The role of Company Secretaries (CS) in India has grown far beyond routine compliance filing. Today, CS professionals are architects of corporate governance, guiding businesses through complex regulations, ensuring transparency, and acting as trusted advisors to boards. With India aspiring to be a $5-trillion economy, Company Secretaries are key to uplifting the country’s image on the global stage by embedding ethical practices, accountability, and investor confidence into corporate functioning. However, this potential is constrained by persistent operational hurdles. The Ministry of Corporate Affairs’ (MCA) V3 Portal, intended to streamline compliance often struggles with glitches, downtime, and failed submissions.

 

What should be a seamless digital interface has, at times, become a barrier to timely filings. While ICSI continues to make representations for deadline extensions, this is only a temporary remedy. Unfortunately, the government’s role remains conspicuously missing, despite collecting hefty penalties with no cap, especially the unrelenting levy of Rs 100 per day. Instead of strengthening the system, this approach burdens corporates and professionals alike. The responsibility to address this systemic issue cannot rest on professionals alone. Large corporates, industry chambers, and trade associations must actively raise their concerns with policymakers. Timely compliance is not just about avoiding penalties it reflects India’s seriousness in building a transparent and reliable corporate governance framework.