• Says transparency, accountability and rule of law are pillars of India’s economic credibility
• Describes ICLS as a key bridge between industry and governance
• Urges officer trainees to contribute towards Viksit Bharat@2047
Srinagar: Lieutenant Governor Manoj Sinha on Tuesday said India’s emergence as one of the world’s fastest-growing economies must be complemented by transparent governance, strong institutions and robust corporate regulation, urging officer trainees of the Indian Corporate Law Service (ICLS) to uphold the highest standards of integrity and accountability.
Interacting with ICLS officer trainees at Lok Bhavan, the Lieutenant Governor said true economic strength extends beyond production, investment and trade, and depends equally on institutional credibility, protection of investors’ interests, adherence to the rule of law and transparent governance.
He described the Indian Corporate Law Service as a cornerstone of India’s corporate governance framework, noting that officers play a vital role in implementing key legislations, including the Companies Act and the Insolvency and Bankruptcy Code. Their work, he said, helps create a balanced ecosystem for industry, trade and investment while fostering trust in India’s corporate sector.
“The identity of a developed economy lies in institutional systems that encourage honest enterprises and effectively monitor irregularities,” Sinha said, adding that the ICLS serves as a vital bridge between industry and governance and contributes significantly to inclusive economic growth.
Highlighting India’s growing global economic stature, the Lieutenant Governor said investor confidence remains one of the country’s greatest strengths and stressed that transparent corporate practices, ethical business conduct and responsible institutions are essential for achieving the vision of Viksit Bharat@2047.
The 2023 and 2024 batch ICLS officer trainees, accompanied by Registrar of Companies, J&K, Haamid Bukhari, shared their experiences of the ongoing domestic study tour and briefed the Lieutenant Governor on the functioning of the Registrar of Companies and the enforcement of corporate laws.
The delegation also informed him about a recent winding-up petition through which the assets of a not-for-profit company were taken over by the Office of the Registrar of Companies-cum-Official Liquidator, J&K, describing it as one of the first instances where corporate laws were invoked in a matter linked to national security.
The Lieutenant Governor expressed confidence that the young officers would continue strengthening corporate governance, protecting investors’ interests and enhancing India’s credibility as a global investment destination.
