Subject: Urgent Concern: Low-Cost Company Registration Advertisements Threatening Professional Standards & Good Governance
CS Anil Agarwal
Dear Esteemed ICSI Members,
Over the past few weeks, I have repeatedly come across advertisements—one of which is attached here—offering Private Limited Company registration services starting at just ₹1,999. Such promotions raise serious concerns about the dilution of professional standards and pose a significant threat to the integrity of corporate governance practices in our country.
About ICSI (Source: Official ICSI Website)
Vision: To be a global leader in promoting good Corporate Governance.
Mission: To develop high-calibre professionals facilitate Good
Corporate Governance.
The Institute of Company Secretaries of India (ICSI), established under the Company Secretaries Act, 1980, is a premier statutory body functioning under the Ministry of Corporate Affairs. It is entrusted with regulating and developing the profession of Company Secretaries, providing top-quality education, and upholding robust professional standards.
For more than 45 years, ICSI has played an instrumental role in strengthening
governance frameworks and contributing towards India’s socio-economic
development.
The Current Threat to Corporate Governance
As evident from the above, ICSI’s core mandate is to promote and facilitate good governance, thereby building an ecosystem that supports India’s sustainable economic growth.
However, when companies or individuals—often relying on automated tools, AI-driven systems, or low-cost software—offer company registration and related compliance services at extremely low prices, it raises several critical concerns:
- Can such providers ensure accuracy, regulatory compliance, and ethical standards?
- Will startups receive the correct guidance essential for long-term success?
- Who will be accountable when inexperienced entities misguide new entrepreneurs?
Such practices not only undermine the role and expertise of qualified Company Secretaries but can also create systemic risks by promoting shortcuts, incomplete compliance, and misinformation. Ultimately, this may erode public trust in regulatory frameworks and harm India’s business environment.
Need for Immediate Action
Given ICSI’s longstanding commitment to
nurturing good corporate governance and ethical professional practices, it is
imperative that this issue be addressed promptly.
Measures should be explored to:
- Prevent misleading advertisements
- Ensure that only qualified professionals provide statutory services
- Protect startups from receiving inadequate or incorrect guidance
- Safeguard the credibility of India’s compliance ecosystem
Request for Collective Action
I urge all members to share their views on this matter. If you agree with the concerns raised, kindly support the initiative to make a formal representation before the Registrar of Companies (ROC) and the ICSI. A unified approach will help in formulating an effective solution to uphold the dignity and standard of our profession.
Let us stand together to protect the integrity of corporate governance and the professional ecosystem we have collectively built over decades.
Warm regards,
CS Anil Agarwal B.Com, LLB, FCS
M/s. Anil Agarwal And Associates,
Practicing Company Secretary
104, Haridarshan CHS LTD, Ambewadi
Mobile : 09388476001
