For the last few years, the future of Company Secretary Firms is under a
big threat. There are different words that are usually followed on this
occasion, some of which are for the clause to keep the company
secretary in Delhi in
the legal firms, whereas the others are against such. You must be wondering
about the accurate reason that is responsible for the same. In this article, we
will be disclosing the different reasons that are usually used for legal
secretarial practice and the reasons used against the company secretary
services in India. Other than that, we will be also disclosing the different
proceedings that are made on this occasion to support the legal firms as well
as to the top company secretary firms in India.
Reasons why company secretary are becoming obsolete
There are different reasons that the
law firms in India are showing while they want to state they won’t need a
company secretary. Here is a bulletin about the same –
●
Rigidity -There are different facts that are to be taken into consideration here, and the most important among all is the inconsistency of the
legal secretarial practice while the modern legal procedures are considered.
The legal scenario of the nation, according to most of the law firms of the state has changed a lot, but the experts have to state that the corporate the secretarial practice has remained where it was. According to some of the firms,
the professionals attached to company law and
secretarial practice are not even eager to
change their proceedings, although they have been offered to do so.
●
Finding Alternative - For the reason that company secretarial practice
is lagging behind, most of the law firms are seeming to avoid them and they are
instead of finding cheaper and yet knowledgeable young students of management for
the same. According to the law firms in India, the managerial
students are having the knowledge, which is almost equivalent and in some cases
better than that of the secretariat. If that is not even the case, then also,
according to the firms, the students there are eager to learn and are flexible
enough to change with the situation. Leaving all the things, the law firms have
to say that excessive management colleges in the nation have made qualified
managers available at a cheaper rate and they are efficient with the legal
works too. This is making them a better choice at times over the professionals
of legal secretarial practice.
●
Size of the firm - While the bigger firms of law are hiring the secretarial
for their procedures though they are not pleased with the performance of the
professionals, the smaller firms are simply avoiding them, for the excessive
cost and extremely low performance of the top
company secretary firms in India.
Resolution
Of the Scenario
It is not that no effort has been made to resolve the issues.
However, success in all cases has not remained fruitful. The entire result that
came out of the different proceedings can be enlisted into three outputs –
● Retooling and Reviving – Some of the law firms, especially those which
are big enough in size, came to a resolution to retool the legal secretarial
practice and by this procedure, they are trying to reestablish the glory of the
secretaries. The number of such firms is quite low, but the steps they have
been taking in the last few years have been appreciated by many. They are
simply reconstructing the entire service that has been provided by the
secretarial firms and by doing this, they are trying to reshape the figured out
role of the top company
secretary firms in India. This particular step has been regarded to be a saviour for the professionals.
However, because of a lack of knowledge about the current scenario, most of the
professionals are still showing their rigid and orthodox stand, which is again
creating disturbances in the procedure.
●
Firm Hiring – This has remained the practice of the law firms of Delhi
in the last two years, where they are hiring the professionals from the company
secretary firms. By doing this, many of the secretarial professionals have
found better support in their career. This practice is commonly visible in the
law firms that are mid-sized in Delhi and also in the surrounding areas. By
doing this, the firms save both of their sides – they are hiring the
secretarial and saving their stream and at the same time, they won’t have to
pay high to the professionals as they are streamed by the secretarial firms.
● Ignoring – This is the last thing that has been visible in the case
of small law firms. They decided not to go for paying high to the professionals
who are not updated. Resizing the professionals are proving costly, which they
are not ready to bear and on the other hand, they have to say that they are
getting the alternative choice and that is a better choice for them as well.
According to them, if resizing becomes essential, then why to go for the costly
choice?
Considering all the things, a conclusion can be drawn that the top
company secretary firms in India are really struggling for their survival.
Standing at this condition if the professionals won’t realize their
responsibility and react in a likewise manner, then all the efforts that are
made from both the sides will go in vain. Hence, it’s really high time for all
the professionals to update and resize themselves to prove them to be fit for
service.
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