Regulatory Compliance Requires Proactive Approach: Sameet Gambhir

Let’s turn the wheel of time, what sparked your interest in law and drew you to the role of an in-house counsel? 

Interestingly, my journey towards legal counsel or a law professional started accidently. When I was in college and doing my B.Com, I wanted to become a Chartered Accountant. But then I joined an organisation to work in the accounts function after my B.com to get some working experience before I enroll into CA. There I met the Company Secretary of the Company and I was impressed by the profile and role of Company Secretary being interacting with Board Members, sitting in Board Meetings etc. I was fascinated by that role and instead of CA I joined the Company Secretary (CS) course. 

However, as fate would have it (and here I believe that destiny plays a very important role in our entire life), after I became a Company Secretary and joined an organisation as CS of that Company back in 1998, I was given the charge of legal function also. As you know CS is also all legal and compliance mainly, I was very happy to take charge of legal function also in addition to my CS role. That’s where my journey of a legal counsel started and thereafter I did my graduation in Law also.

Since then I have always been a legal counsel or legal head mostly in-house. It’s been around 27-28 years that I have been a legal counsel and company secretary and worked with different (Indian and MNCs) organizations. 

Which tech tools or resources do you find most valuable in your day-to-day work as a legal officer?  

I think 2-3 tools which are being used by us are really very useful and make our life easy. Which include a tool for compliance of Insider Trading, since this is one of the stringent compliance for a listed entity and SEBI is very proactive so to ensure that compliance this tool has been a great support to us. Then statutory compliance tool, Board meeting tool, Litigation, contract management tool are some of the useful tools.

What are some of the biggest regulatory challenges you face as Company Secretary in today's global legal climate?

In the last ten years particularly after the new Companies Act and new SEBI regulations, the role of in-house counsel and Company Secretaries have significantly increased and is very challenging. Compliance of SEBI Listing regulations, SEBI (Prohibition of Insider Trading) Regulations, FEMA compliance, Companies Act and other corporate compliances are some of the major issues that need constant attention and high level proactiveness. Shareholders Governance is also a new challenge nowadays and needs greater attention as the shareholders activism is on rise in India as well, which is of course  good for the company as well as shareholders. Therefore the appropriate and right disclosures with all the relevant and required information to the shareholder and public takes a front seat in governance today.  Compliance and Governance of Insider Trading and compliance of SEBI regulations is also a complex and challenging role and needs again proactive approach, which includes regular awareness sessions and training to the employees and other connected persons as we are into multiple businesses and every business has its own dynamics. 

If you could leave our readers with one actionable piece of advice to advance their career or personal growth, what would it be? 

Be yourself is the first and foremost advice I would like to give. You are what you are – be original and don’t copy any one. You are unique and have your own personality. Find yourself to the optimum. Of course there are many things one should learn from the seniors and other leaders that should be part of your development and to increase your skill sets but don’t lose your originality, no one can replace you. Further as a career advice, since we are today living in a dynamic time and things are changing so fast that by the time you get to the details of a thing the new version or new avatar is already there. Therefore one needs to get into speed with this. Technical competency is mandatory but being proficient in technology is the need of the time as we are already in the era of AI.

What are your hobbies or passions outside of your legal work? How do they help you unwind and recharge?  

I am a complete “Golf” enthusiast, every weekend starts with a round with friends. I am truly in love with this game and I can’t imagine my life without Golf. This game not only relaxes and recharges you but teaches you a number of life lessons. It actually reveals one’s true character on the course. Golf is the best thing that has happened to me in life I believe.

Your thoughts on menstrual leave policy and other initiatives to make work places more inclusive with a level-playing field for all.

Inclusivity is the most important thing. While we all talk about diversity and wellbeing but we forget the inclusivity. The emphasis should be on inclusivity, while taking steps to increase diversity.