Private and public companies adhere to the rules, regulations and laws. Company secretaries are professionals with an intense knowledge of laws, securities, and corporate governance. Companies should maintain ethical standards and follow compliance. The demand for a company secretary is rising. However, the supply of the company secretaries is comparatively low. The reason for the gap is the lack of awareness and interest. The institutes offering professional education conduct seminars, webinars and counselling programs to understand the value of education. ICSI has a new idea to create awareness of education among old students. ICSI introduces the Mitr scheme. The scheme motivates the educated circle by referring new students to enrol in the company secretary ship course. The blog intrigues the readers with information on the new scheme of ICSI and the demand for legal courses.
ICSI’s Mitr scheme:
ICSI introduced an innovative program to create awareness about education. The referral program is for the members of ICSI. The individuals receive rewards in the referral program. The eligibility criteria for joining the CS Mitr Scheme is age. The employees of ICSI, regional council members, council members, and members of chapters, managing committee members of chapters, auditors and consultants are not allowed to participate in the referral scheme. The members of ICSI, students of ICSI, school teachers, housewives, retired employees of ICSI, students from universities, and young adults are eligible to refer other students through the CS Mitr Scheme.
The participants of the CS Mitr scheme receive a monetary incentive. The participants receive 500 per head in the enrolment of the CS executive course. The incentive applies to admission without fee concessions. If the joined student avails of fee concession during registration, the incentive scheme will not offer incentives through the CS Mitr scheme.
Interested candidates can apply to the CS Mitr scheme with the online mode. After checking the details, the registered person will receive a referral code. The new students joining the CS course must enter the referral code and do the registration in the executive program. The incentives in the referral programme reach the participants through the NEFT transaction. The participants receive money in the bank accounts through the directorate of finance and accounts. The CS Mitrs should provide the details of PAN and taxation for the compliance process.
ICSI also declares that it has the right to reject or withhold the incentive money in case of misconduct or unfair practices. The participants are requested to maintain confidentiality during the association with ICSI. The CS Mitr scheme helps for reaching students in remote areas. The students with interest get motivation through the rewards. The demand and supply meet the focal point by initiating schemes to fill the gap.
Demand for legal courses in India:
In India, the demand for lawyers grows as the laws changes according to the environment and pressures. Some of the sought-after subjects under the core legal subject are as follows: corporate law, cyber law, intellectual property law, international law, and tax law. Especially in criminal, corporate, and intellectual property law, skilled candidates are in demand. In law subjects, patience and practical knowledge are essential to become successful.
According to the statistics, every year, the demand for lawyers in India is around 46,000. Law and company secretary ship students require the following skills to become successful: research skills, team spirit, interpersonal and communication skills, listening skills, multi-tasking skills, argumentative skills, political knowledge, business knowledge, and sociology knowledge. The students pursuing law focus on LLB and LLM courses. The students pursuing company secretary ship courses will focus on domestic and international corporate and international law.
A law graduate gets opportunity to practice individually, work in a corporate team, or do a job for government agencies. In India, lawyers are in demand with specialisation in criminal, civil, patent, corporate, tax and international law subjects. The knowledge and skills of law graduates make them suitable for teaching and journalism jobs. The candidates with an interest in the law subject also work as journalists and teachers.
Demand for legal courses abroad:
The demand for law graduates and company secretaries is growing. By 2026, it is expected to grow at a rate of 6.97%. The corporates want company secretaries or law graduates to manage globalisation. Foreign law educates in human rights, international law, and international law. Candidates with a law degree from foreign universities attract employers. Candidates with a law degree understand the legal system of different countries and are capable to handle various issues. The top five countries to study law abroad are the United States of America, the UK, Canada, Australia, and Japan. Depending upon the program, the students study law for two or four years of period. Indian students get scholarships to study law abroad. The company secretary ship course is similar to the law course as it handles corporate and security law.
Final Words:
Law and company secretary courses are similar in fundamental knowledge. The students chose the areas that interest them in the law course. The company secretary course prepares a professional for the challenges in the corporate and legal world. The demand for law and company secretary ship courses is high in India and abroad. Schemes like CS Mitr increase admission in the ACS course. Awareness and interest are the fuel that drags the students towards professional courses. At the fundamental level, the students think about the knowledge. At the advanced level, the students think about the subject knowledge. The students understand their interests and capacity after gaining advanced knowledge.