Q.Which statutory body regulates the profession of Company Secretaries in India and grants membership to qualified persons?
(A) Institute of Chartered Accountants of India
(B) Institute of Company Secretaries of India
(C) Securities and Exchange Board of India
(D) Ministry of Corporate Affairs

The Company Secretary profession is regulated by a dedicated statutory body created under its own Act of Parliament, similar to how ICAI regulates chartered accountants.

The Company Secretaries Act, 1980 is the Act of Parliament that governs the Company Secretary profession in India. It establishes the Institute of Company Secretaries of India (ICSI) as a statutory body corporate. ICSI's responsibilities include conducting the CS qualifying examinations, admitting qualified candidates as members, maintaining the register of members, issuing the Certificate of Practice to those who wish to practise independently, and prescribing professional standards such as the Secretarial Standards. None of the other options is the body created specifically to regulate this profession — ICAI regulates chartered accountants, SEBI regulates securities markets, and the Ministry of Corporate Affairs is the government ministry administering company law generally rather than the professional body itself.

A common error is confusing ICSI with ICAI (which regulates Chartered Accountants) since both are professional accounting/compliance bodies created by similar Acts of Parliament — students should remember each profession has its own distinct regulating Institute.