Odisha govt to provide corporate governance training to MSMEs
Updated: Oct 27, 2015 05:20:39pm
Bhubaneswar, Oct 27 (KNN) In a step towards making micro small, medium and enterprises (MSMEs) of the state more competitive in the global market, Odisha Government has decided to take up corporate governance training for MSME entrepreneurs in the context of new Companies Act-2013. The programme will be implemented under the joint aegis of MSME Department and Institute of Company Secretaries of India (ICSI).
This has been discussed in a high level meeting held under the chairmanship of Chief Secretary Gokul Chandra Pati on Monday. Vice President, ICSI, Mamata Binani along with Chairperson Eastern India Regional Council of ICSI Sunita Mohanty were also present.
The chief secretary advised MSME department to take up specific training and sensitisation programme on corporate governance for MSMEs in the state. A proposal for setting up MSME clinic in the state under joint partnership of the state government and ICSI also received in principle approval in the meeting.
Pati said that individual entrepreneurs are subject to high financial risk, their conversion to companies under the new Companies Act of 2013 would reduce this risk to limited liability.
Company Secretary Mamta Binani said as per provisions of the new Act, the MSME units can be registered as one person company (OPC). The existing proprietorship units could also be converted to companies under the new Act.
Replying to media queries, she said conversion of the MSME units to companies under the new Act would be helpful for them in a number of ways.
Their liability would be limited only to the extent of unpaid amount in the capital fund of the company. Besides, banks and venture capitalists would also be comfortable in extending financial assistance to them, she added. (KNN Bureau)
This has been discussed in a high level meeting held under the chairmanship of Chief Secretary Gokul Chandra Pati on Monday. Vice President, ICSI, Mamata Binani along with Chairperson Eastern India Regional Council of ICSI Sunita Mohanty were also present.
The chief secretary advised MSME department to take up specific training and sensitisation programme on corporate governance for MSMEs in the state. A proposal for setting up MSME clinic in the state under joint partnership of the state government and ICSI also received in principle approval in the meeting.
Pati said that individual entrepreneurs are subject to high financial risk, their conversion to companies under the new Companies Act of 2013 would reduce this risk to limited liability.
Company Secretary Mamta Binani said as per provisions of the new Act, the MSME units can be registered as one person company (OPC). The existing proprietorship units could also be converted to companies under the new Act.
Replying to media queries, she said conversion of the MSME units to companies under the new Act would be helpful for them in a number of ways.
Their liability would be limited only to the extent of unpaid amount in the capital fund of the company. Besides, banks and venture capitalists would also be comfortable in extending financial assistance to them, she added. (KNN Bureau)
Loading...
