MEET CS VINEET CHAUDHARY CENTRAL COUNCIL MEMBER AND CHAIRMAN ASB, ICSI
The day that we loose never comes back and therefore live it world class! Just be out there in the field and be a sprinter!
CS Vineet Chaudhary, Managing Partner, M/s. VKC & Associates (Company Secretaries) & Founder Partner, VKC Restructuring Professionals LLP talks about his journey, his inspiration behind his creative and big idea and challenges in an exclusive interview with CLIQTAX:
CT: How the Journey of your profession started and how is your experience as a Company Secretary?
VC: I was born and brought up in a village of Muzaffarnagar District, of Uttar Pradesh and did my schooling and graduation with Science and Mathematics from a reputed college of the home city.
For me, anything and everything starts and ends with logic and is a mathematical culmination of set formulas and patterns. Yet, beyond this world of patterns, my inquisitive and experimental mind took me beyond these boundaries.
I have accidentally landed in Delhi and equally accidental was my admission into the Company Secretary course. I found law interesting and that was how I stuck to it. My engagement with the subjects, which therefore helped me to deep dive into it and that is what set me apart. I started getting confidence in my peer group and then gradually started tasting the flavour of acceptability among colleagues, corporates and professional fraternity.
Being from farming background and belonging to a humble family, had, I guess, given me all the requisite qualities of perseverance, patience and consistency. The fire in the belly was self-lit and the profession had a magical pull. Entrepreneurship and self-reliance are something that has always been in the veins and I never really had the urge to go for a job. I started the journey by taking certificate of practice and as any business or a own venture would have it.
The experiences in my coffers was and is the biggest treasure which today has given me the strong base to grow and not only grow but also enable growth of my colleagues and fellow professionals.
I am extremely grateful to the almighty for the visible growth that he has showered on me. From an office of 10/10 ft. and working single handed, I now have a decent office set up in South Delhi and associates spanning across India with a team of dedicated professionals consisting of Chartered Accountants, Company Secretaries and Advocates.
And delightfully, I find it very satisfying to train and prepare the future generation of Company Secretaries and grooming them to become leaders of tomorrow, particularly, providing training and platform to the students coming from villages and rural background and taking them to the main stream of the corporates.
CT: What is your practice area & list the services you provide?
VC: With wide network of professionals in the Country ‘VKC’ is the well-known in the corporate laws professionals’ fraternity. VKC is providing professional services to clients across the globe dealing in various industries. With the team of experienced and trained professionals comprising of Company Secretaries and other Legal & Accounting Professionals, who treasure the value of diligence and knowledge as well as creativity and innovation VKC is addressing client’s needs.
CT: How tough or easy it has been for you to stand as a professional in this competitive market?
VC: It is not easy to come up with an answer on this. To really relay this well, I would like to mull over this animal called ‘competition’ by seeing at the way things unfold itself when a parent wishes to admit a child to a Montessori, leave alone a school.
The mental trauma, the physical pain and sometimes the pressure on the purse strings, all of it takes a toll not only on the parents but it quite gets transmitted to the child, pushing the child to learn the right moves.
Believe me, since we have all gone through these phases either ourselves or seen it in our homes, we know how difficult it is, because of the simple reason that ‘we never like to settle for anything which is less than the best’.
Today, when I reflect to what I had felt and what were my reactions or strategy or for that matter actions, I must say, that the competition around only had made me stronger and gave me the impetus to perform better and better and in turn unlock my own potential.
Taking jitters from the market place or from peers and others has never been my cup of tea and my belief in honest and hard work has been always rewarding. And to me, rewards also means growth in material terms but it definitely doesn’t mean only that.
CT: As compliances and regulations are increasing, reforms have been made, how as a professional do you see them?
VC: ‘Change’ is the only constant. The environment around us, the society, the economy, the ecology...all are changing! The world has become a global village. If that is the stage of efflux that we live in, there are bound to be changes in compliances and regulations unless we target to remain in a decayed state.
We are instrumental is taking them to so many stakeholders, explain them the nitty-gritties of it and align them with the said changes. As a professional, we do understand that regulations and compliances are the way of living in a civilised society and a disciplined economy, albeit, it has its own set of challenges. We always welcome reforms.
CT: Who is your targeted clientele and what strategy do you prefer to reach out to them?
VC: I believe in relationships and nurturing the clients by giving them services and being available to them round the clock. Reaching out to them and extending a personal touch has been my USP. I am a people’s man.
With no ego but not shedding my self-respect, I have always been genuinely concerned for my clients and for that matter, my friends and colleagues too. I have inculcated the art of listening and that lets me understand things better.
Most of the times, proper expression from the client’s side is a challenge and through my years of experience and sensitive nature, I engage my mind and heart in knowing things and my management skills plays an important role.
My clientele is the large corporates and the MNC’s. These companies definitely have their work force and what they further need is a professional who comes with a third eye perspective and who has execution skills which comes with almost zero error.
I have been a perfectionist and my hunger for growth and pushing myself to do more is always there. That lets me push my own boundaries and makes me better each day.
CT: How professionals are helping the businesses/startups in this compliance era?
VC: Professionals have a 360-degree view of the legal space in which the businesses work. Those days are gone when a professional could just be the ‘Master of one and jack of none’.
The era is now of ‘Master of one and jack of all’. It is thus most pertinent for the professional fraternity to of course gain an expertise in at least one field of his choice together with knowing the environment that it works in.
This innate quality of a professional sets him apart and helps him to establish himself as a person whom you cannot do without. As the going says ‘Prevention is better than cure, it is in the same breath that I wish to quote that ‘It is better to take the services of a professional from the incubation stage of business’.
I say this with a strong sense of responsibility because due to not having the knowledge of things, the whole compliance mechanism goes totally haywire as that is not what the focus area of a businessman is, especially that of start-ups.
When a business mentions or even talks of compliances, paperwork and documentation, the first sense that probably occurs to him is that of expenses. I can only but overemphasise that compliances are not a cost centre anymore; in fact, it can be termed as a saviour centre.
One non-compliance and we have had it. There is a proverb that ‘If you think compliance is dear, try non-compliance’.
CT: What suggestions do you want to give the start-ups, which are not so aware of the compliances which have become the need of the hour, to do business transparently as the government has increased accountability?
VC: With all due respect to any thought process that one may be going through in this regard, my suggestion has always been to take advice from day one. A client should never be penny wise pound foolish.
These days valuation is such a big thing. Governance and stability are very important. Accountability and transparency also help him develop that right culture in the organisation and the employees adapt to the said culture and each drop only adds up to make an ocean.
I would also not hesitate that it is absolutely understandable that professional inputs and advice don’t come without a cost and in the beginning, each penny saved is like a penny earned. In spite of this, I say that it is important to have this doctor as a family physician, advising you to wade the waters with caution.
The businessman and new generation entrepreneurs called start-ups has to consider this as a part of the input costs. In the short run and of course in the long run, the benefits will be there to be seen, and visibly seen.
CT: What are the new areas which you suggest that your profession can contribute to a better manner?
VC: The areas are umpteen and the limitations are only in one’s mindThe laws have become so dynamic in nature that we can no more say that ‘Fill it, shut it, forget it.’ In today’s era it is ‘Unlearn, Learn and Relearn’ and it has now become a continuous feature to keep oneself updated on a daily basis.
A professional has to make up his mind, do a deep dive to find out where his heart lies and what excites him in his workplace. There are green pastures all over; One has to have the vision and clear eyesight to look be yond the obvious of company law, audit and the like.
Believe me, even these are not everyone’s baby. In whatever a professional is engaged into, my suggestion and advice is to give 100% percent to it.
The Company Secretaries are well equipped and trained professionals to venture into newer age laws, viz., GST, Insolvency Laws, Electricity Laws, Arbitration, RERA, Consumer Protection Act, Intellectual Property Laws, Appearance before the Quasi-Judicial Authorities, Restructuring of businesses, Labour & Social Welfare Legislations besides practising in their core domain of Corporate Laws.
CT: What do you want to say about the aspiring professionals who are currently at student stage?
VC: I would like to reach out to them by way of this story that I always admire because it touches my life in many shades. There was a man who was seeing a caterpillar slogging hard to come out of its cocoon and after much exertion, the man noticed that the caterpillar could not take sizeable steps towards its freedom.
The man, with an intent to help, went to his room and picked up a pair of scissors and cut open the mouth of the cocoon, only to help the caterpillar get a smooth and an easy way out.
To the aspiring professionals, I can only say in few words, that just concentrate in your studies and look at it as if there is no life beyond it. Always strive to be at your best and try not to settle for mediocrity.
The days that we loose never comes back and therefore live it world class! Just be out there in the field and be a sprinter!
CT: What are your thoughts about the recent COVID 19 situation, how the role of professionals has been evolved in these tough times?
VC: The Covid -19 has taught us many things. Professionals have further honed their skills and removed all inhibitions and evolved with the Technological tools. The societal and hygiene and family bondage having grown has made them a stronger and complete person all of it which has a bearing on work too.
The survival instinct has come to the forefront and everyone has understood the importance of human resource, which in turn has encouraged working better in teams.
I feel, the professionals have not taken any break in their learning curve in this Covid-19 period. In fact, the speed and dosage of learning and honing has only become more and more.
The professionals in this tough time are expected to do hand holding of the new generation entrepreneurs and their clients as well as the society at larger to defeat the challenges created by Covis-19, of course all with the social distancing norms and positive set of minds.
CT: At last, a few words you want to say about our CLIQTAX and your experience about it?
VC: CLIQTAX is doing some exceptionally good work. I am very impressed with its innovative thinking and approach. Nothing comes easy and the way you have little by little moved towards your aim, that little by little has become a lot. My best wishes!
CLIQTAX extends heartiest wishes to CS Vineet Chaudhary for his journey as a mentor and entrepreneur. Kudos to him for such an amazing interview.