The Institute of Company Secretaries of India?s (ICSI) core group will conduct its first meeting on Friday to discuss the investigation issues related to corporate governance in the Satyam accounting fraud case.
The seven-member core group of ICSI includes Kayoor Bakshi, immediate past president of ICSI, and six other council membersPreeti Malhotra, SN Anantha Subramaniam, Anil Murarka, B Arasimhan, R Sridharan, and Nesar Ahmad.
NK Jain, CEO and secretary, ICSI told FE that this core committee has been formed to delve into the various issues which are coming to the surface arising out of the Satyam issue. The institute has made sure that this core group will come out with its results as early as possible.
The core group will also go through the various issues arising out of this episode, discuss and debate and submit its recommendations to the government on how to prevent such frauds in future.
The ICSI president, Datla Hanumanta Raju said in case any of its members are found guilty of any misconduct, within the framework of Company Secretaries Act 1980, then the strictest disciplinary action would be taken against the erring member which includes removing his name from the list of members of ICSI and pecuniary fines.