Volume No.

XXIV
Student Company Secretary ISSN 0972-2874
November 2007

11
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Chairman President
Edited, printed and published by
S. Balasubramanian Preeti Malhotra(Ms.)
N.K. Jain for the Institute of
Vice-President
Members Company Secretaries of India,
Keyoor Bakshi
(In alphabetical order) 'ICSI House', 22, Institutional
Ajit Yadav Members Area, Lodi Road,
Brahm Avatar Agrawal(Dr.) (In alphabetical order) New Delhi - 110003
Girish Ahuja(Dr.) Ananthasubramanian S N Phone : 24617321-24,
G.P. Agrawal Anil Kumar Murarka 24644431-32, 41504444
G R Bhatia Ashok Chandra Grams : Compsec
Lalit Bhasin Biswa Behari Chatterjee Fax : 91-11-24626727
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Nesar Ahmad Harish Kumar Vaid Printed at Daily Tej Pvt. Ltd.
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Raj Kumar Agarwal (Dr.) Narasimhan B New Delhi
RakeshChandra Nesar Ahmad Phone : 42225134, 42225111
Renu Budhiraja(Ms.) Milind B Kasodekar The Institute is not in anyway
S K Verma(Dr. Mrs.) Pradeep Kumar Mittal responsible for the result of
Sanjay Grover S R Bansal any action taken on the basis
Sanjeev Kumar (Dr.) Sanjay Grover of the advertisements
V K. Agarwal Sridharan R published in this Bulletin.
Sudhir Babu C
Editor & Publisher Vinayak S Khanvalkar
N. K. Jain Y S Malik
Secretary & Chief
Executive Officer
N.K. Jain

HIGHLIGHTS
H I G H L I G H T S

l From the President 03

l Academic Guidance 05
l Legal World 11
l Students Quiz 14
l Student Services 15
l News and Announcements 22
l Introduction of New Syllabus of the CS Course 32
l Schedules of SMTPs/ADP 46
l List of Companies for Imparting Training 48

Student Company Secretary 1 November 2007

 From The President

"No one will build you up or beat you down as much as you.
So take care of yourself as a true reflection of life."
Chris Walker

Dear Students,
Success of a professional to a great extent depends on maintaining a positive attitude at the
workplace. In fact, the essence of success is a positive attitude, which means a constructive
response to stress and the ability to deal effectively with unavoidable problems. People with negative
attitude think and project only negative things. As is your attitude, so are your perceptions. When
we are positive, we find that our interactions with the world and ourselves become brighter, more productive and perpetuate the
feel good factor. This in turn makes us healthier and gives solace to our mind which is important in the changing circumstances
where professionals have to complete their targets on time involving compulsions and mental stress.
It is one of the most telling aspects of how others in the organisation look at you and feel about you as a co-professional. Your
attitude in the workplace can sometimes define you more than the work you actually produce if your co-professionals come to see
you as someone who is reliable, competent and intelligent, and someone that they can rely on.
You might have observed that there are people who imagine and project difficulties in any organization even before they start
work and end up doing nothing. Others include those who inspired initially, but give up for lack of perseverance. At the same time,
there is third category that includes people who become more and more inspired to execute a job effectively, the more they face
challenges and difficulties.
You all my dear friends, have to fit in this third category because professionals guiding the destinies of the corporates in the
changing global competitive environment, have to perform multifarious jobs. Whatever organization you join and the assignment
you undertake, your attitude should be positive to achieve excellence. Goal setting is an important component to achieve that.
Setting a clearly defined goal is key in any profession how you see yourself in a given period of time. Not only in profession goal
setting is important, it is equally important while pursuing a professional course. As students, before you set out to accomplish
something, you must first ask yourself what specifically it is that you hope to accomplish. It is desirable to put your goals on paper.
If your goal is not written down, then it is not really a goal it is more of a wish. By committing your life long goals to paper, you
are taking the first step towards actualizing those goals and having faith in the feasibility of attaining your goal. This is a major
ingredient to success in life, and the key to a positive attitude. You should be brave enough to stand out from the rest of the crowd.
Friends, you must have started preparing for the forthcoming December examinations. The need of the hour is to stay calm
and focused. As stated above, while pursuing your CS Programme (Course), your endeavour should be to aim for excellence.
This requires diligence, in-depth study followed by constant updation of your knowledge. While preparing for the examination,
apart from reading Study Material, Bare Acts and References, you are also advised to read Chartered Secretary, Student Company
Secretary Bulletin, Economic dailies, other Professional Journals and various related websites to supplement and update your
knowledge. Reference to questions asked in the previous examinations would also be beneficial. Guideline Answers and Suggested
Answers published by the Institute will certainly help you to have an idea as to how the answers are to be presented to the
questions.
As you are aware, the Institute has set up Oral Coaching Centers at almost all important cities /towns of our country to provide
classroom teaching facilities. I advise you to join Oral Coaching Classes to supplement your home study programme. Attending
Oral Coaching Classes will provide you an opportunity to interact with the expert faculty and help you to improve your communication
skills through interactive learning. Furthermore, you should also avail of the library facilities provided at the Regional Councils/
Chapters and Satellite Chapters.
Friends, the Council of the Institute, decided to implement the new syllabus for all three stages of Company Secretaryship
course, namely Foundation Programme, Executive Programme and Professional Programme. An announcement containing
details of the new syllabus, i.e. papers, examination, exemption on changeover from existing to new syllabus etc. are being
published elsewhere in this issue.
The Institute celebrated its Foundation Day on October 30, 2007 at New Delhi. The Chief Guest Shri Lalu Prasad, Honble
Minister of Railways delivered the Foundation Day Lecture on the theme Excellence through Strategic Turnaround. The Guest
of Honour Shri Prem Chand Gupta, Honble Minister of Corporate Affairs also addressed the gathering. Distinguished invitees
and senior Government officials graced the occasion and a large number of members, students and officials, and staff of the
Institute attended the function.
Student Company Secretary 3 November 2007
 From The President
The Institute on its Foundation Day launched web-based e-learning module to facilitate the students. I am pleased to inform
you that the web based e-learning module for Foundation Programme was launched at the hands of Shri Lalu Prasad, Honble
Union Minister of Railways. The e-learning portal will also be extended to Executive Programme and Professional Programme in
due course. All students from rural, urban areas at national level and also other countries can avail this 24x7 on-line study facility,
as the portal has global reach.
Under e-learning, students can have continuous access to studies and guidance of faculties on-line. The e-learning module
will enable the students to have access to learning and faculty support at any time as per their convenience. Interactivity will be
established by modules such as Discussion Boards and Online Chat. After the proposed virtual classroom facility under e-
learning portal starts, students will be able to interact live with the faculty.
E-learning facility is in addition and not in substitution to compulsory postal tuition. Students intending to join e-learning are
therefore, required to pay additional fees as determined by the Institute from time to time. To access the E-learning Portal of ICSI,
the candidates may log on to http://elearning.icsi.edu
Friends, I conclude by stating that your thoughts affect your attitude, disposition and state of mind. A person with positive
expectancy will look for the benefit or advantage from an obstacle or setback. It has been seen that most successful individuals
in any career have positive attitudes. You all have the ability to transform your lives and soar to new heights of success and
fulfillment. Positive attitude enables you to look forward to challenges with anticipation, eagerly awaiting whatever life throws at
you, bursting to make the best out of yet another opportunity. When you have positive expectations, your mind will direct you to
find the solutions. You'll feel better within yourself and confident to make changes, always looking on the bright side.

With best wishes,

Yours sincerely,

New Delhi (PREETI MALHOTRA)

November 15, 2007 president@icsi.edu

ICSI INTRODUCES 24 5 7 STUDY THROUGH E-LEARNING

(http://elearning.icsi.edu)
In order to facilitate students, e-learning portal is available for the Company Secretary Foundation Programme which will
also be extended to Executive Programme and Professional Programme in due course. All students from rural, urban areas
at national level and also other countries can avail this 24x7 on-line study facility as the portal has global reach.
Under e-learning, students can have continuous access to studies and guidance of faculties on-line. The e-learning
module will enable the students to have access to learning and faculty support at any time as per their convenience. Interactivity
will be established by modules such as Discussion Boards and Online Chat. After the proposed virtual classroom facility
under e-learning portal starts, students will be able to interact live with the faculty. This will take the CS course studies
virtually into the space age.
Undergoing of e-learning is in addition and not in substitution to compulsory postal tuition. E-learning is designed to
provide a virtual contact between the teacher and the taught. Student intended to join e-learning are therefore, required to
pay additional fees as determined by the Institute from time to time.
To access the E-learning Portal of ICSI the candidates may log on to http://elearning.icsi.edu
A nominal annual fee of Rs 250/-**(Rupees Two hundred and fifty only) plus taxes for first year has to be paid for WBT (Web
Based Self Paced Learning).
The candidate can use the following modes of payment for availing the service:
l Online on the website http://elearning.icsi.edu by Credit Card / Debit card/ ECS (electronic clearing services)
l By way of Demand Draft (DD) in the name of ICSI GurukulOnline payable at Mumbai(For more information visit the
website http://elearning.icsi.edu)
** The charges for subsequent years are listed on http://elearning.icsi.edu. The charges are in addition to the Registration fees.

Student Company Secretary 4 November 2007

 Academic Guidance
ACADEMIC GUIDANCE
SLRFM/FTFM
INTERMEDIATE/FINAL
RBI GOVERNOR ANNOUNCES MID-
TERM REVIEW OF ANNUAL POLICY
FOR 2007-081
Dr. Y. Venugopal Reddy, Governor, RBI presented the Mid-term
Review of Annual Monetary Policy and Annual Statement on
Developmental and Regulatory Policies for the Year 2007-08 on 30th
October, 2007 in a meeting with Chief Executives of major commercial
banks. Some of the major highlights of the same are as under:
Highlights
l Bank Rate, Repo Rate and Reverse Repo Rate kept un-
changed.
l The flexibility to conduct overnight repo or longer term repo
including the right to accept or reject tender(s) under the
LAF, wholly or partially, is retained.
l CRR increased by 50 basis points to 7.5 per cent effective
fortnight beginning November 10, 2007.
l GDP growth forecast retained at 8.5 per cent during 2007-
08, assuming no further escalation in international crude
prices and barring domestic or external shocks
l Inflation to be contained close to 5.0 per cent during 2007-
08 while resolving to condition expectations in the range of
4.0-4.5 per cent, with a medium-term objective of inflation at
around 3.0 per cent.
l Moderating net capital flows so that money supply is not
persistently out of alignment with indicative projection of 17.0-
17.5 per cent.
l Covering of Short-sale and When Issued transactions to
be permitted outside the Negotiated Dealing System Order
Matching (NDS-OM) system.
l Reinstatement of the eligible limits under the past
performance route for hedging facility to be permitted.
l Oil companies to be permitted to hedge foreign exchange
exposures by using overseas over-the-counter (OTC)/
exchange traded derivatives up to a maximum of one year
forward.
l Importers and exporters having foreign currency exposures
to be allowed to write covered call and put options in both
foreign currency/ rupee and cross currency and receive premia.
l Authorised Dealers (ADs) to be permitted to run cross
currency options books subject to the Reserve Banks
approval.
l ADs to be permitted to offer American options as well.
l Working Group to be constituted for preparing a road-map
for migration to core banking solutions (CBS) by Regional
Rural Banks (RRBs).
l RRBs and State/ Central Cooperative Banks to disclose their
capital-to-risk weighted assets ratio (CRAR) as on March
31, 2008 in their balance sheets.
l A road-map to be evolved for achieving the desired level of
CRAR by these banks.
l High Level Committee to be constituted to review the Lead
Bank Scheme.
l Financial assistance to RRBs for implementing information
1. RBI Press Release : 2007-2008/589
Student Company Secretary
and communication technology (ICT) based solutions.
l Working group to be constituted to lay down the road-map
for cross-border supervision and supervisory cooperation with
overseas regulators, consistent with the framework
envisaged in the Basel Committee on Banking Supervision
(BCBS).
l Besides general market risk, specific risk, especially the credit
risk arising out of deficient documentation or settlement risk
to be covered under the supervisory process.
l Action plan to be drawn up for implementation of National
Electronic Clearing Service (NECS) with centralised clearing
and settlement at Mumbai.
Domestic Developments
l Real GDP growth during the first quarter of 2007-08 is placed
at 9.3 per cent as against 9.6 per cent in the corresponding
quarter a year ago.
l The year-on-year (Y-o-Y) wholesale price index (WPI)
inflation eased from its peak of 6.4 per cent on April 7,
2006 to 3.1 per cent by October 13, 2007.
l The average price of the Indian basket of international crude
has increased to US $ 80.0 per barrel as on October 23,
2007 from US $ 72.1 per barrel in July-September, 2007.
l The Y-o-Y CPI inflation for industrial workers showed a
sharp increase to 7.3 per cent in August 2007 as against
6.3 per cent a year ago.
l The Y-o-Y growth in money supply (M3) was higher at
21.8 per cent on October 12, 2007 than 18.9 per cent a
year ago.
l The Y-o-Y growth in aggregate deposits at Rs.5,69,061 crore
(24.9 per cent) was higher than that of Rs.3,88,528 crore
(20.4 per cent) a year ago.
l Total credit exhibited a Y-o-Y growth of Rs.3,81,333
crore (23.3 per cent) as on October 12, 2007 on top of an
increase of Rs.3,66,463 crore (28.8 per cent) a year ago.
l The Y-o-Y growth in total resource flow from scheduled
commercial banks (SCBs) to the commercial sector was 22.1
per cent, over and above the growth of 28.0 per cent a year
ago.
l Banks holdings of Government and other approved securities
increased to 30.0 per cent of their net demand and time
liabilities (NDTL) as on October 12, 2007 from 28.0 per cent
at end-March 2007.
l The overhang of liquidity under the LAF, MSS and the Central
Governments cash balances taken together increased to
Rs. 2,22,582 crore by October 24, 2007 from Rs. 85,770
crore at end-March 2007.
l The Government of India, in consultation with the Reserve
Bank, revised the ceiling under MSS for the year 2007-08
from Rs. 1,10,000 crore to Rs.1,50,000 crore on August 8,
2007 and further to Rs. 2,00,000 crore on October 4, 2007.
l During the second quarter of 2007-08, financial markets
remained generally stable with conditions of abundant
liquidity and interest rates moderated in almost all segments
of the financial system.
l During AprilOctober 2007, public sector banks (PSBs)
decreased their deposit rates, particularly at the upper end
of the range for various maturities, by 25-60 basis points.
l During April-October 2007, the benchmark prime lending
rates (BPLRs) of private sector banks moved from a range
of 12.50-17.25 per cent to 13.00-16.50 per cent.
l The range of BPLRs for PSBs and foreign banks, however,
remained unchanged at 12.50-13.50 per cent and 10.00-
15.50 per cent, respectively, during this period.
5 November 2007
 Academic Guidance
l The BSE Sensex increased from 13,072 at end-March 2007
to 19,243 on October 26, 2007.
l The gross market borrowings of the Central Government
through dated securities at Rs. 1,27,060 crore (Rs. 1,17,548
crore a year ago) during 2007-08 so far (up to October 26)
constituted 67.3 per cent of the budget estimates (BE) while
net market borrowings at Rs. 75,387 crore (Rs. 65,951 crore
a year ago) constituted 68.7 per cent of the BE.
External Sector
l Merchandise exports rose by 18.2 per cent in US dollar terms
during April-August 2007 as compared with 27.1 per cent in
the corresponding period of the previous year while import
growth was higher at 31.0 per cent as compared with 20.6
per cent in the previous year.
l Non-oil imports rose by 44.3 per cent (10.9 per cent a year
ago); oil imports, however, slowed down to 6.0 per cent (44.5
per cent), mainly on account of moderation in the price of
the Indian basket of crude oil by 0.5 per cent during April-
August 2007.
l Indias foreign exchange reserves increased by US $ 62.0
billion during 2007-08 and stood at US $ 261.1 billion on
October 19, 2007.
l The rupee appreciated by 10.3 per cent against the US dollar,
by 2.4 per cent against the euro, by 5.4 per cent against the
pound sterling and 7.1 per cent against the Japanese yen
during the current financial year up to October 26, 2007.
Global Developments
l The downside risks to the global economic outlook have
increased from a few months ago, accentuated by the recent
financial market turmoil, firm inflationary pressures and high
and volatile crude prices.
l According to the IMFs World Economic Outlook (WEO)
released in October 2007, the forecast for global real GDP
growth on a purchasing power parity basis has been retained
at 5.2 per cent for 2007 as in the July 2007 update, down
from 5.4 per cent in 2006, but forecast for 2008 has been
revised down to 4.8 per cent in October from 5.2 per cent in
the July 2007 update.
l In the US, real GDP growth had risen to 3.8 per cent in the
second quarter of 2007 as compared with 2.4 per cent a
year ago. The IMFs October 2007 WEO expects the US
economy to grow at 1.9 per cent in 2007 and 2008 as against
2.9 per cent in 2006.
l There was a sudden fall in credit market confidence in late
July brought on by the spread of risks from exposure to the
US sub-prime mortgages with credit crunch spreading into
corporate bond markets and equity markets.
l The European Central Bank and the US Federal Reserve,
which have intervened since August 9 by providing liquidity
to the inter-bank market, were joined by central banks in
Canada, Japan, Australia, Norway and Switzerland.
l Bank of England has provided liquidity support to a mortgage
lending bank, while giving a blanket guarantee to depositors
on the safety of their deposits.
l Several central banks have cut policy rates during the third
quarter of 2007 after financial markets were significantly
affected by turbulence, such as the US Federal Reserve,
the Banco Central do Brasil, Bank Indonesia (BI) and the
Bank of Thailand.
l The central banks that have tightened their policy rates
include the European Central Bank; the Bank of England;
the Bank of Japan; the Bank of Canada; the Reserve Bank
of Australia; the Reserve Bank of New Zealand; the Peoples
Student Company Secretary
Bank of China; the Bank of Korea; the Banco de Mexico;
and the Banco Central de Chile.
l A few central banks in Asia have used supplementary
measures for tightening, besides increasing key policy rates.
The only central bank that has kept policy rates steady is the
Bank Negara Malaysia.
Overall Assessment
l Some positive elements in the global economy are (i) the
global economy is strong and resilient; (ii) EMEs, by and
large, have a better macro-environment than before; (iii)
globally, corporate balance sheets are strong and less
leveraged than in the past; (iv) large financial intermediaries
are perhaps adequately capitalised to absorb the shocks of
credit infirmities; and (v) the inflation environment has been,
on the whole, benign.
l The global environment is fraught with uncertainties with
international crude prices at new highs, having breached the
level of US $ 90 per barrel while elevated food and metal
prices would, in current circumstances, pass through to
domestic inflation.
l The US Federal Reserve has been the most aggressive in
terms of easing monetary policy, with a higher than expected
rate cut, reflecting the concerns over impact of housing issues
on consumption and, hence, growth.
l The most important issue for India is the possible impact of
global financial market developments and policy responses
by central banks in major economies.
l The immediate task for public policy in India, therefore, is to
manage the possible financial contagion which is in an
incipient stage with highly uncertain prospects of being
resolved soon.
l On the domestic front, aggregate demand conditions have
remained firm and on the uptrend.
l Key monetary aggregates, i.e., reserve money and money
supply have been running well above initial projections,
reflecting the impact of higher than expected deposit growth
and the exogenous expansionary effects of capital inflows
as well as the drawdown of fiscal cash balances.
l The incomplete pass-through of international prices of crude,
metals, food and commodities in general to consumer prices
is indicative of suppressed inflation which carries destabilising
potential into the future.
l The policy responses in the form of active liquidity
management operations to modulate expansionary monetary
and financial conditions were reflected in a generally orderly
evolution of market liquidity.
l Since late July, global financial markets have experienced
unusual volatility, strained liquidity and heightened risk
aversion.
l While the trigger was the rising default rates on sub-prime
mortgages in the US, the source of the problem was
significant mis-pricing of risks in the financial system.
l Easy monetary policy, globalisation of liquidity flows, wide-
spread use of highly complex structured debt instruments
and inadequacy of banking supervision in coping with
financial innovations also contributed to the severity of the
crisis.
l At the current juncture and looking ahead, on the domestic
front, the biggest challenge for monetary policy is the
management of capital flows and the attendant implications
for liquidity and overall stability.
l Yet another challenge is the rapid escalation in asset prices,
particularly equity and real estate, which are significantly
driven by capital flows.
6 November 2007
 Academic Guidance
l Over the next twelve to eighteen months, risks to inflation
and inflation expectations would also continue to demand
priority in policy monitoring.
Stance of Monetary Policy
l Real GDP growth in 2007-08 is placed at 8.5 per cent for
policy purposes, as set out in the Annual Policy Statement
of April 2007 and reiterated in the First Quarter Review.
l Policy endeavour would be to contain inflation close to 5.0
per cent in 2007-08 and the resolve, going forward, would
be to condition expectations in the range of 4.0-4.5 per cent
so that an inflation rate of 3.0 per cent becomes a medium-
term objective.
l Moderating the expansionary effects of net capital flows is
warranted so that money supply is not persistently out of
alignment with the indicative projections.
l The Reserve Bank will continue with its policy of active
demand management of liquidity through appropriate use of
the CRR stipulations and open market operations (OMO)
including the MSS and the LAF, using all the policy
instruments at its disposal flexibly, as and when the situation
warrants.
l Barring the emergence of any adverse and unexpected
developments in various sectors of the economy and keeping
in view the current assessment of the economy including
the outlook for inflation, the overall stance of monetary policy
in the period ahead will broadly continue to be:
To reinforce the emphasis on price stability and well-
anchored inflation expectations while ensuring a
monetary and interest rate environment that supports
export and investment demand in the economy so as to
enable continuation of the growth momentum.
To re-emphasise credit quality and orderly conditions in
financial markets for securing macroeconomic and, in
particular, financial stability while simultaneously pursuing
greater credit penetration and financial inclusion.
To respond swiftly with all possible measures as
appropriate to the evolving global and domestic situation
impinging on inflation expectations, financial stability and
the growth momentum.
To be in readiness to take recourse to all possible options
for maintaining stability and the growth momentum in
the economy in view of the unusual heightened global
uncertainties, and the unconventional policy responses
to the developments in financial markets.
Monetary Measures
l The Bank Rate has been kept unchanged at 6.0 per cent.
l The repo rate under the LAF is kept unchanged at 7.75 per
cent.
l The reverse repo rate under the LAF is kept unchanged at
6.0 per cent.
l The Reserve Bank has the flexibility to conduct repo/reverse
repo auctions at a fixed rate or at variable rates as
circumstances warrant.
l The Reserve Bank retains the option to conduct overnight or
longer term repo/reverse repo under the LAF depending on
market conditions and other relevant factors. The Reserve
Bank will continue to use this flexibility including the right to
accept or reject tender(s) under the LAF, wholly or partially,
if deemed fit, so as to make efficient use of the LAF in daily
liquidity management.
l CRR increased by 50 basis points to 7.5 per cent effective
fortnight beginning November 10, 2007.
Student Company Secretary
Developmental and Regulatory Policies
Financial Markets
l Non-Competitive Bidding Scheme in the Auctions of State
Development Loans (SDLs) to be operationalised by March
31, 2008.
l Re-issuance of SDLs in the second half of 2007-08.
l The facility of new issuance structure for floating rate bonds
(FRBs) is being built into the new Negotiated Dealing System
(NDS) auction system being developed by the Clearing
Corporation of India Limited (CCIL).
l The Reserve Bank is committed for permitting market repos
in corporate bonds, once the corporate debt markets develop
and the Reserve Bank is assured of availability of fair prices,
and an efficient and safe settlement system based on delivery
versus payment (DvP) III and Straight Through Processing
(STP) is in place.
l Covering of Short-sale and When Issued transactions to
be permitted outside the Negotiated Dealing System Order
Matching (NDS-OM) system.
l Systemically important non-deposit taking NBFCs (NBFC-
ND-SI) to be considered as qualified entities for accessing
the NDS-OM using the Constituents Subsidiary General
Ledger (CSGL) route.
l The facility of permitting all exporters to earn interest on their
Exchange Earners Foreign Currency (EEFC) accounts to
the extent of outstanding balances of US $ 1 million per
exporter is extended up to October 31, 2008 and banks are
free to determine the rate of interest.
l Reinstatement of the eligible limits under the past
performance route for hedging facility provided that
supporting underlying documents are produced during the
term of the hedge undertaken.
l Oil companies to be permitted to hedge their foreign
exchange exposures to the extent of 50 per cent of their
inventory volume as at the end of the previous quarter by
using overseas over-the-counter (OTC)/ exchange traded
derivatives up to a maximum of one year forward.
l Importers and exporters having foreign currency exposures
to be allowed to write covered call and put options in both
foreign currency/ rupee and cross currency and receive
premia.
l Authorised Dealers (ADs) to be permitted to run cross
currency options books, subject to the Reserve Banks
approval.
l ADs to be permitted to offer American options as well.
Credit Delivery
l Internal Working Group to be constituted to examine the
recommendations of the Committee on Agricultural
Indebtedness (Chairman: Dr. R. Radhakrishna) relevant to
the banking system in general and the Reserve Bank, in
particular.
l Working Group to be constituted with representatives from
the Reserve Bank, the NABARD, sponsor banks and RRBs
for preparing a road-map for migration to core banking
solutions (CBS) by RRBs.
l RRBs and State/ Central Cooperative Banks should disclose
the level of CRAR as on March 31, 2008 in their balance
sheets. A road-map may be evolved for achieving the desired
level of CRAR by these banks.
l Working Group to be constituted to study the
recommendations of Sengupta Committee report on
Conditions of Work and Promotion of Livelihood in the
Unorganised Sector relevant to the financial system and
7 November 2007
 Academic Guidance
suggest an appropriate action plan for implementation of
acceptable recommendations.
l High Level Committee to be constituted to review the Lead
Bank Scheme.
l Proposed to prepare a concept paper on financial literacy-
cum-counseling centres detailing the future course of action.
l Financial assistance to RRBs for implementing information
and communication technology (ICT) based solutions,
including installation of solar power generating devices for
powering ICT equipment in remote and under-served areas.
Prudential Measures
l Final guidelines on Credit Default Swaps would be issued
by end-November 2007.
l Banks are urged to follow prescribed specific considerations
while engaging recovery agents. Abusive practices followed
by banks recovery agents would invite serious supervisory
disapproval.
l Constitution of a working group to lay down the road-map
for adoption of a suitable framework for cross-border
supervision and supervisory cooperation with overseas
regulators, consistent with the framework envisaged in the
Basel Committee on Banking Supervision (BCBS).
l In order to enhance the effectiveness of the banking
supervisory system, the process of consolidated supervision
to be integrated with the financial conglomerate monitoring
mechanism for bank-led conglomerates.
l It is proposed to cover, besides general market risk, specific
risk, especially the credit risk arising out of deficient
documentation or settlement risk, under the supervisory
process.
Institutional Developments
l Banks are urged to ensure that adequate disaster recovery
systems are put in place to fully comply with the requirements.
l Banks are urged to draw up time-bound action plans for
implementation of CBS across all their branches.
l An action plan to be drawn up for implementation of National
Electronic Clearing Service (NECS) using the existing
infrastructure of National Electronic Funds Transfer (NEFT)
system with centralised clearing and settlement at Mumbai.
l Working group to be constituted comprising representatives
of the Reserve Bank, State Governments and the Urban
Cooperative Banks (UCBs) to examine the various areas
where IT support could be provided by the Reserve Bank to
UCBs.
l The Committee on Financial Sector Assessment (CFSA)
(Chairman: Dr.Rakesh Mohan; Co-Chairman: Dr. D.
Subbarao) submitted an interim report delineating its
approach and reviewing the progress of work to the Finance
Minister and Governor, Reserve Bank of India in July 2007.
The CFSA is expected to complete the assessment by March
2008 and lay out a road-map for further reforms in a medium-
term perspective.
SLRFM
INTERMEDIATE
PREVENTION OF MONEY
LAUNDERING ACT
ACT,, 2002- AN OVERVIEW2
OVERVIEW
The Prevention of Money-laundering Act, 2002 (PMLA) aims at
combating money laundering in order to prevent and control money
laundering, to confiscate and seize the property obtained from
2. Prepared by Lakshmi Arun, Education Officer, The ICSI.
Student Company Secretary
laundered money and to deal with any other issue connected with
money laundering in India.
The Act provides that whosoever directly or indirectly attempts to
indulge or knowingly assists or knowingly is a party or is actually
involved in any process or activity connected with the proceeds of
crime and projecting it as untainted property, shall be guilty of offences
of money-laundering.
For the purpose of money-laundering, the PMLA identifies certain
offences under the Indian Penal Code, 1860, the Narcotic Drugs and
Psychotropic Substances Act,1985 the Arms Act, 1959 the Wild Life
(Protection) Act,1972 the Immoral Traffic (Prevention) Act,1956 and
the Prevention of Corruption Act, 1988 the proceeds of which would
be covered under this Act.
Financial Intelligence Unit (FIU) is a central agency of a government
that receives financial information pursuant to countrys anti-money
laundering laws, analyzes and processes such information and
disseminates the information to appropriate national and international
authorities, to support anti-money laundering efforts.
The Financial Intelligence Unit, India (FIU-India) has been set up
as a multi-disciplinary unit for establishing links between suspicious
or unusual financial transactions and underlying criminal activities.
It coordinates and supports efforts of national and international
intelligence, investigation and enforcement agencies in pursuing the
global efforts against money laundering and related crimes. The FIU-
IND is the central nodal agency responsible for receiving, processing,
analyzing and disseminating information relating to suspect financial
transactions to these agencies who shall protect the information against
misuse. Through its research and analysis functions, it monitors and
identifies strategic key areas on money laundering trends, methods
and developments.
As per the provisions of the PMLA, every intermediary (which
includes a stock-broker, sub-broker, share transfer agent, banker to
an issue, trustee to a trust deed, registrar to an issue, merchant banker,
underwriter, portfolio manager, investment adviser and any other
intermediary associated with securities market and registered under
section 12 of the Securities and Exchange Board of India Act, 1992),
shall have to maintain prescribed records.
The PMLA 2002 and rules notified there under also impose
obligation on intermediaries to verify the identity of clients, maintain
records and furnish information to FIU-IND.
PMLA 2002 defines money laundering offence and provides for
the freezing, seizure and confiscation of the proceeds of crime.
GENERAL AND COMMERCIAL LAWS
STANDARD ARBITRA
STANDARD TION CLAUSES3
ARBITRATION
The dispute resolution mechanism which is alternative to legal or
judicial process has now become very popular among business
organizations. Such mechanism is popularly known as Alternative
Dispute Settlement (ADR). The techniques of ADR including arbitration
are not alien to the justice dispensing system in India.
From time immemorial we have seen different types being adopted
for settlement of various kinds of disputes. One such type is Village
Panchayat in India and Ombudsman in the West. Latest in the line is
Arbitration mostly to settle disputes in the commercial contracts.
However, the same has received a impetus with the enactment of
Arbitration and Conciliation Act, 1996. Further, the amendment to CPC
in the year 1999 providing for settlement of disputes outside the court,
have made the ADR movement in India more intense and purposeful.
Resolution of disputes, alternative to the resolution through courts is
the requirement of the present day market economy.
For the information of the students here in below are given some
model arbitration clauses suggested by various National/International
3. Compiled by Archana Kaul, Assistant Director, The ICSI.
8 November 2007
 Academic Guidance
Arbitration Institutions. Such model clauses can be used by the parties
in their contract who are concerned with commercial and other national
and international transactions.
Indian Council of Arbitration (ICA) Clause of Arbitration
All disputes or differences whatsoever arising between the parties
out of or relating to the construction, meaning and operation or effect
of this contract or the breach thereof shall be settled by arbitration in
accordance with the Rules of Arbitration of the Indian Council of
Arbitration and the award made in pursuance thereof shall be binding
on the parties.
Indian Society of Arbitrators (ISA) Clause
Indian Society of Arbitrators (ISA), a non-profitable Society for the
promotion and development of Arbitration and ADR techniques has
drafted the following model arbitration/conciliation clause which it
recommends to all concerned with commercial and other national and
international transactions to include in the contract.
Any and all disputes or differences whatsoever arising between
the parties out of or relating to the construction, meaning or the
performance or effect of the contract or breach thereof shall be subject
to arbitration/conciliation/mediation by the Indian Society of Arbitrators,
New Delhi under its Arbitration and Conciliation Rules and the award
rendered by the Arbitrator/Conciliator/Mediator shall be final and binding
on the parties. The venue of arbitration/conciliation/mediation shall be
fixed by the Court of Arbitration unless agreed to by the parties. All
provisions of the Arbitration and Conciliation Act, 1996 as amended
from time to time shall be applicable.
The Arbitration Clause suggested by the Committee on
Commercial Arbitration
All matters, questions, disputes or differences whatsoever arising
between the parties touching the construction, meaning, operation or
effect of the contract or court of or relating to the contract or breach
thereof, shall be settled by arbitration.
(a) in accordance with the rules of the.. (name of the
Tribunal), or
(b) in the country of the defendant. If the arbitration is to be held in
India the dispute shall be settled in accordance with the rules of
the.(name of the Tribunal) and if it is to be held
in(name of the country) it shall be conducted in accord-
ance with the rules of..(name of the Tribunal), or
(c) by reference to single arbitrator in case the parties agree upon
one and in the absence of such agreement to a single arbitrator
to be appointed by.(name of the appointing authority).
The arbitration shall be conducted at.(give name of
the country or state the method for determining the venue), or
(d) by two arbitrators one to be appointed by each party to the dis-
pute and the arbitrators shall, before taking upon themselves the
burden of reference appoint an umpire. If the arbitrators cannot
agree on the appointment of the umpire, the umpire who shall be
of a nationality other than that of the parties shall be appointed
by.(name of the appointing authority). The arbitration
shall be conducted at..(give name of the country or
state the method for determining the venue), or
(e) by reference to three arbitrators, one to be appointed by each
party to the dispute and the third who shall be of a nationality
other than that of the parties shall be appointed by.(name
of the appointing authority). The arbitration shall be conducted
at(give name of the country or state the method for
determining the value).
Judgement upon the award rendered may be entered in any court
having jurisdiction or otherwise application may be made to such court
for a judicial acceptance of the award and an order of enforcement as
the case may be. The award shall be final and binding on the parties.
This contract shall be governed by the laws of.. (name
of the country).
Student Company Secretary
Model Arbitration Clauses in International Commercial
Arbitration
Standard International Chamber of Commerce, Paris
(ICC) Arbitration Clause
The International Chamber of Commerce (ICC) recommends that
all parties wishing to make reference to ICC arbitration in their
contracts use the following standard clause.
All disputes arising in connection with the present contract shall
be finally settled under the Rules of Conciliation and Arbitration of the
International Chamber of Commerce by one or more arbitrators
appointed in accordance with the said Rules.
The parties may also wish to stipulate the law governing the contract,
the number of arbitrators and the place and language of the arbitration.
We recommend that whenever the ICC model clause is used, it
should be amended as follows:
1. The words Conciliation and should be removed because they
are misleading. If conciliation is desired, it should be set out in a
separate clause, perhaps as a required stop prior to arbitration.
But where it is not desired, there should be no confusion as to a
partys right to initiate arbitration without any prior attempts at
formal conciliation.
2. The words one or more arbitrators should, if possible, be re-
duced to a positive choice, of a sole arbitrator or three arbitra-
tors.
To ensure that the clause is as widely drawn as possible, the phrase
controversies or claims (used in the UNCITRAL model clause) may
be added after disputes, so as to neutralize any argument as to arbitral
jurisdiction over undisputed claims and collateral issues, such as fraud.
UNCITRAL
Any dispute, controversy or claim arising out of or relating to this
contract, or the breach, termination or invalidity thereof, shall be settled
by arbitration in accordance with the UNCITRAL Arbitration Rules as
at present in force.
Parties may wish to consider adding:
(a) The appointing authority shall be...(name of institution
or person);
(b) The number of arbitrators shall be.(one or three);
(c) The place of arbitration shall be...(town or country);
(d) The language(s) to be used in the arbitral proceedings shall
be..
If the parties wish the appointing authority to be the ICC, the
appropriate wording (which is recommended by the ICC to deal with
the special features of the ICCs internal structure) should instead of
sub-clause (a) above, be as follows :
The appointing authority shall be the ICC acting in accordance
with the rules adopted by the ICC for this purpose.
Consideration may be given to varying the UNCITRAL Rules (which
absolutely require majority awards) by providing as follows:
Where three arbitrators have been appointed, the award will be
given by the Chairman of the arbitral tribunal alone.
International Centre for Settlement of Investment
Disputes (ICSID)
The parties hereto consent to submit to the International Centre
for Settlement of Investment Disputes, any dispute relating to or arising
out of this Agreement for settlement by arbitration pursuant to the
Convention on the Settlement of Investment Disputes between states
and Nationals of Other States.
The ICSID mechanism is complex. In fact, ICSID itself has issued
a special publication (Doc ICSID 5 Riv. 1) containing a number of
highly refined additional model clauses adapted to different
circumstances (consent in anticipation of subsequent ratification by a
9 November 2007
 Academic Guidance
State which has not ratified the ICSID Convention, special clauses Parties are also reminded that difficulties and expense may be
relating to the nature of the dispute, special clauses relating to contracts avoided if they expressly specify the law governing their contract. The
signed by Government agencies or subdivisions; deemed nationality parties, may if they wish, also specify the number of arbitrators, and
of the investor, preservation of the rights of the investor after the place and language of arbitration. The following provisions may be
compensation, exhaustion of local remedies; and so forth). suitable :
It is no coincidence that many ICSID arbitrations have immediately The governing law of this contract shall be the substantive law
run into jurisdictional objections which could have been avoided by of..
appropriate drafting. We therefore, recommend that no ICSID The tribunal shall consist of..(a sole or
arbitration clause should be agreed without taking specialist advice. three) arbitrator(s). (In the case of a three member tribunal, the
American Arbitration Association following words may be added.. two of them shall be
nominated by the respective parties.)
Any controversy or claim arising out of or relating to this agreement
or the breach thereof, shall be settled by arbitration in accordance The place of arbitration shall be (city).
with the Commercial Arbitration Rules and Supplementary procedures The language of the arbitration shall be.
for international commercial arbitrations of the American Arbitration As with the ICC Standard Clause, the phrase controversy or claim
Association, and judgement upon the award rendered by the may be added after dispute.
Arbitrator(s) may be entered in any court having jurisdiction thereof.
Cairo Regional Centre for Commercial Arbitration
LIST OF THE INSTITUTES EMPANELLED IN IMPARTING THE ORAL
Any dispute, controversy or claim arising out or relating to this COACHING FACILITIES TO THE CS STUDENTS APPEARING IN
contract, or the breach, termination or invalidity thereof, shall be decided FOUNDATION, INTERMEDIATE AND FINAL EXAMINATIONS
by arbitration in accordance with the Rules for Arbitration of the Cairo UNDER PUBLIC/PRIVATE PARTNERSHIP SCHEME
Regional Arbitration Centre."
Euro-Arab Chambers of Commerce S. Name & Address of Validity for CS Session
No. Empanelled Institutions of Examination
Any dispute arising out of or in connection with this contract shall
be finally settled in accordance with the arbitration provisions in the EASTERN INDIA REGIONAL COUNCIL
Rules of conciliation, arbitration and expertise of the Euro-Arab
Chamber of Commerce, by one or more arbitrator(s) appointed in 1. Institute for Inspiration & Self December07 & June08
accordance with the said Rules. Development Session of CS
1-B-200/1, Sector-III, Examinations.
Indian Council of Arbitration Salt Lake City
All disputes or differences whatsoever arising between the parties Kolkata-700 016
out of or relating to the construction, meaning and operation or effect WESTERN INDIA REGIONAL COUNCIL
of this contract or the breach thereof shall be settled by arbitration in
accordance with the Rules of Arbitration of the Indian Council of 2. Career Classes December07 & June08
Arbitration and the award made in pursuance thereof shall be binding 303, Shalimar Corporate Center Session of CS
on the parties. 8, South Tukoganj Near Hotel Examinations.
International Centre for the settlement of investment Balwas Indore (M.P)
Dispute 3. Institute of Management December07 & June08
The parties hereto hereby consent to submit to the International Training & Research Session of CS
Centre for Settlement of Investment Disputes any dispute relating to Artha Complex, 2nd Floor Examinations.
or arising out of this agreement for settlement by arbitration pursuant Near IMA House and Tapdiya
to the Convention on the Settlement of Investment Disputes between Terrace, Off. Adalat Road
States and Nationals of other States. Aurangabad-431 001 (M.S)
Regional Centre for Arbitration at Kuala Lumpur 4. M/s Career Consultant December'07 & June'08
3018, Trade House, Ring Road Session of CS
Any dispute, controversy or claim arising out of or relating to this Surat-395002 Examination.
contract, or the breach, termination or invalidity thereof, shall be decided
by arbitration in accordance with the Rules for Arbitration of the Kuala 5. Madhu Jas Promotions Pvt. Ltd. June '08 & December '08
Lumpur Regional Arbitration Centre. 12/1. Dr. Sarju Prasad Marg Session of CS
Behind Kanchan Hotel Examination.
Permanent Court of Arbitration Near Gokuldas Hospital
The parties agree to submit any dispute derived from the present Indore-452001
contract or from those resulting therefrom to a procedure of arbitration." SOUTHERN INDIA REGIONAL COUNCIL
For this purpose the parties shall apply to the services of the Bureau
of the Permanent Court of Arbitration at The Hague. They shall accept 6. Mohans Institute of Company December07 & June08
the Set of rules on arbitration and conciliation in international disputes Secretaries, Sreyas, Session of CS
between the parties of which only one is a state elaborated by the Chettiparambil Lane Examinations.
bureau in the Year 1962; however, they will be free to replace the rules Thekkumbhagam Tripunithura
of procedure. Ernakulam (Distt.) Kerala-682301
London Court of International Arbitration 7. St. John Foundation June '08 & December '08
Little Kingdom Montessori Session of CS
Any dispute arising out of or in connection with this contract, School Compund Examinations.
including any question regarding its existence, validity or termination, 338/3, West of Medical College
shall be referred to and finally resolved by arbitration under the Rules Nagercoil, Kanyakumari Dt.
of the London Court of International Arbitration, which Rules are Asaripallam-629201
deemed to be incorporated by reference into this clause.

Student Company Secretary 10 November 2007

 Legal World
LEGAL WORLD
Compiled by T.K.A. Padmanabhan, FCS, Advocate, New Delhi.
CORPORATE LAWS
LW(S) 66.11.2007
MEGHAL HOMES (P.) LTD. v. SHREE NIWAS GIRNI K.K.SAMITI
[(2007) 78 SCL 482 (SC)], G.P.Mathur & P.K.Balasubramanyan, JJ.
[Decided on 24.08.2007]
Companies Act, 1956-Section 391- Scheme for revival- Court
modifies the scheme- Power of the court to modify a scheme-
Whether court has power to modify a scheme in such a manner
that the nature of the proposed scheme itself changed- Held, No.
Brief facts: M/s.Shreeniwas Cotton Mills Ltd (SCML) was ordered
to be wound up under section 433 by the Company Court on
25-7-1984. A decade thereafter, the Official Liquidator of SCML issued
a public notice inviting offers for the revival of the mill. A contributory
RS filed an application proposing a scheme of revival, under section
391, before the Company Court. The company court directed holding
of class meetings and the scheme was approved by the shareholders,
creditors and workers. Consequently, an application for sanctioning
the scheme was filed. However, before the same could be considered
by the Company Court, the Division Bench of the High Court set aside
the Company Courts order calling the class meetings and,
consequently; the application for sanctioning the said scheme was
also dismissed.
On direction of the Division Bench of the High Court, the Company
Court assigned the task of preparing the feasibility report on the revival
of the company to an expert body, which made its recommendations
to the effect that it was not possible to restart the entire mill and only a
section of its spinning division could be restarted and operated as
viable. Subsequently, a memorandum of understanding (MoU) was
executed between the shareholders, the Sgroup, which was the
majority shareholders of the company, and Lone builder company,
whereby it was, inter alia, agreed between the parties that L would
pay Rs.97.50 crores in consideration of getting the right to develop
the companys properties and that if any additional funds were required
for settling the companys affairs, the same would have to be brought
by the company itself. Based on that MoU, some members of S group
filed application seeking directions from the Company Court for
convening a meeting to consider the amended scheme. The application
was allowed and the amended scheme was approved at the meeting.
On petition seeking sanction of the scheme, the Company Court
dismissed the same on the ground that the scheme presented was
not a scheme for revival, but it was, in substance, disposal of the
companys assets which vested in the Official Liquidator. On appeal,
the Division Bench of the High Court set aside the order of the company
court and sanctioned the scheme with certain modifications. Several
appeals were filed by different parties to the Supreme Court.
Decision: Appeal allowed.
Reason: When a company is ordered to be wound up, its assets
are put in possession of the Official Liquidator. The assets become
custodia legis. The follow up, in the absence of a revival of the company,
is the realization of the assets of the company by the Liquidator and
distribution of the proceeds to the creditors, workers and contributories
of the company, ultimately resulting in the death of the company by an
order under section 481 being passed. But, nothing stands in the way
of the Company Court, before the ultimate step is taken or before
assets of the company in liquidation are disposed of, to accept a
scheme or proposal for revival of the company. In that context, the
Court has necessarily to see whether the scheme contemplates revival
of the business of the company, makes provisions for paying off
creditors or satisfying their claims as greed to by them and for meeting
the liability of the workers in terms of section 529 and section 529A.
Of Course, the Court has to see to the bona fides of the scheme and
Student Company Secretary
to ensure that what is put forward is not a ruse to dispose of the assets
of the company in liquidation.
The proposed modifications altered the position of the shareholders
vis--vis the company. Instead of the company reviving the spinning
unit as recommended by the expert body and as adopted in the general
meeting, the company would have nothing to do with the mill lands,
and the whole of the mill lands would pass to L on L paying a value
of Rs.97.50 crores to S and L would start an industry of its own in
that property. That could not be considered to be a modification in the
scheme necessary for the proper working of the compromise or
arrangement. That was a modification of the scheme itself. Same was
the position regarding the provision of replacing the resolution passed
that if any surplus amounts were available, the company would start a
viable industry in any part of the State of Maharashtra a commitment
that S would establish an industry in any part of the State on an
investment of Rs.20 crores. That again was an obligation cast on the
members of the company and that could not also be taken to be a
modification, which the Court could bring about on its own under section
391 on the pretext that it was a modification necessary for the proper
working of the compromise or arrangement. In any event, the Division
Bench of the High Court ought to have directed reconvening of the
meeting of the members of the company in terms of section 391 to
consider the modifications and ensured that the approval thereof by
the requisite majority existed. Therefore, it was a fit case where the
decision of the Division Bench as also of the Company Court should
be set aside and the proceedings were to be remanded to the Company
Court.
LW(S) 67.11.2007
VINOD BAID v. STATE OF AP & ANR [(2007) 139 Comp Cas 324
(AP)], Ramesh Ranganathan, J. [Decided on 24.10.2006]
Companies Act, 1956-Section 113- Non-delivery of share
certificates- Complaint filed after one year- Whether the complaint
is barred by limitation- Held, Yes. Whether the offence is a
continuing one - Held, No.
Brief facts: A criminal complaint was filed against the petitioner
and other directors under section 113(1) and (2) of the Companies
Act, 1956. The petitioner sought to quash the proceedings against
him by filing a petition under section 482 of the Cr.P.C. contending
that (i) the complaint was filed beyond the period of limitation prescribed
under section 468 of the Cr.P.C. and (ii) the offence under section 113
was not a continuing offence as defined under section 472 of the Cr.P.C.
Decision: Petition allowed.
Reasons : The period of limitation, under section 468(2)(a) of the
Cr.P.C. is six months, and as the complaint was filed more than one
year after the date of knowledge, no cognizance could have been
taken of the offence since it was barred by limitation.
The liability under section 113(1) did not continue until the rule, or
its requirement was obeyed or complied with. The offence, on the
breach of section 113(1), was complete once and for all on the failure
to deliver the shares, debentures and stocks within the time stipulated.
There was no continuing obligation even after expiry of the time limit.
Section 113(2), which prescribes the penalty, is intended to enforce
strict compliance with the requirement of section 113(1) under the
threat of continuous penalty. The offence under section 113(1) was
not repeated or committed day to day after the initial default and could
not therefore be said to be a continuing offence attracting the provisions
of section 472 of the Code of Criminal Procedure.
Since the penalty prescribed for violation of section 113(1) of the
Act was fine of Rs.500 for each day during which the default continues,
even if the period of limitation was calculated from the date of
knowledge under section 469(1) (b) of the Code, cognizance could
not have been taken beyond six months in view of the bar in taking
cognizance under section 468(2) (a) of the Code.
LW(S) 68.11.2007
DINESH KUMAR JHUNJHUNWALA v. KARUR VYSYA BANK LTD.
11 November 2007
 Legal World
[(2007) 79 SCL 227 (MAD)], N.Paul Vasanthakumar, J [Decided on
10.08.07]
Companies Act,1956- Section 150-members register-members
name included in the depositorys register- CLB directing
furnishing of members register sans depository members-
Whether tenable-Held, No.
Brief Facts: The appellant was a member of the respondent-
company. He applied for the extracts of register of members. The
respondent refused to give the same. The appellant filed company
petition before the CLB with a prayer to direct the company for an
inspection and for issuing of extracts of its register of members. The
respondent resisted the petition contending that the appellant had
stated that he would not be in a position to come for the inspection
and, therefore, he had no right to claim extracts of its register of
members in terms of section 163(2). The respondent also contended
that in terms of section 11 of the Depositories Act, 1996, the register
of beneficial owners is maintained only by a depository and once the
names of the depositories are entered in the register of members, the
said register is complete in respect of the shares issued by the
company, fulfilling the requirements of section 150. The CLB even
though held that the right to seek copy of the register of members is
available only to the members, who inspected the register, yet did not
decline the prayer of the appellant considering his old age and directed
the company to furnish an extract of its register of members, maintained
in accordance with section 150, which would, however, not include the
list of beneficial owners of shares of company. The appellant
challenged the direction given by the CLB for not including the list of
beneficial owners of the shares of the company in the membership list
before the High Court.
Decision: Appeal allowed.
Reason: The definition of member includes beneficial owner,
whose name is entered in the records of the depository, and he shall
be deemed to be the member of the concerned company with effect
from 20.9.1995. The respondent could not contend that the register
of members to be maintained under section 150 will not cover the
beneficial owner, whose name is entered in the records of the
depository. Section 163 mandates the company to keep the register
and returns for inspection. Hence, the order passed by the CLB
directing the respondents to furnish the list of members and extract of
register of its members, excluding the list of beneficial owners of the
shares of the bank was unsustainable, as the same was contrary to
section 41(3) and also in violation of section 152A.
If the interpretation given by the CLB is to be accepted, the insertion
of section 41(3) would be rendered meaningless. Thus, it is clear that
after enactment of the Depositories Act, 1996, the membership of a
company got widened and the beneficial owners, whose names are
entered in the records of the depository, shall also be deemed to be
the members of the concerned company.
The member of the company is defined without any ambiguity in
the Companies Act, 1956 and the intention of the Legislature shall not
be given a narrow interpretation as argued by the respondent. Hence,
it was not open to the respondent-bank to contend that it would maintain
a list of members, excluding the beneficial owners, whose names were
found in the records of the depository. Therefore, the direction given
by the CLB, which was questioned by the appellant, deserved to be
quashed and, accordingly, the same is set aside. The respondent is
bound to furnish copy of all members of the company and not in
exclusion of the beneficial owners, whose names were found in the
register of depository.
TAX LAWS
LW(S) 69.11.2007
ALL INDIA FEDERATION OF TAX PRACTITIONERS v. UNION OF
INDIA [(2007) 10 STT 166 (SC)], S.H.Kapadia & B. Sudershan Reddy,
JJ. [Decided on 21.08. 2007]
Student Company Secretary
Service tax- Tax on services rendered by professionals-
Whether constitutional- Held, Yes.
Brief facts: The instant appeal was filed by the appellant before
the Supreme Court challenging the legislative competence of the
Parliament to levy service tax on practising chartered accountants,
cost accountants and architects under Article 246(1), read with Entry
97 of List I of the Seventh Schedule to the Constitution on the ground
that word Profession in Entry 60 of List II is nothing but service and,
therefore, levy of service tax came within the competence of State
Legislature alone.
Decision: Appeal dismissed.
Reason: The source of the concept of service tax lies in economics.
It is an economic concept. It has evolved on account of service industry
becoming a major contributor to the GDP of an economy, particularly
knowledge-based economy. With the enactment of the
Finance Act, 1994, the Central Government derived its authority from
the residuary Entry 97 of the Union List for levying tax on services.
The legal back up was further provided by the introduction of Article
268A in the Constitution, which stated that taxes on services shall be
charged by the Central Government and appropriated between the
Union Government and the States. Simultaneously, a new Entry 92C
was also introduced in the Union List for the levy of service tax. As an
economic concept, there is no distinction between the consumption
of goods and consumption of services as both satisfy human needs.
Further, service tax is a value added tax which in turn , is a general
tax which applies to all commercial activities involving production of
goods and provision of services. Moreover, VAT is a consumption tax
as it is borne by the client. Thus, service tax is VAT which, in turn, is
both a general tax as well as destination based consumption tax leviable
on services provided within the country.
Entry 60, List II refers to taxes on professions etc. It is tax on the
individual person/firm or company. It is the tax on the status. A chartered
accountant or a cost accountant obtains a license or a privilege from
the competent body to practice. On that privilege as such the State is
competent to levy a tax under Entry 60 of List II. However, Entry 60 of
List II is not a general entry. It cannot be read to include every activity
undertaken by a chartered accountant/cost accountant/architect for
consideration. Service tax is a tax on each activity undertaken by a
chartered accountant/cost accountant or an architect. The cost
accountant/chartered accountant/architect charges his client for advice
or for auditing of accounts. Similarly, a cost accountant charges his
client for advice as well as doing the work of costing. For each
transaction or contract, the chartered accountant/cost accountant
renders professional based services. The activity undertaken by the
chartered accountant or the cost accountant or an architect has two
aspects. From the point of view of the chartered accountant/cost
accountant, it is an activity undertaken by him based on his performance
and skill. But from the point of view of his client, the chartered
accountant/cost accountant is his service-provider. It is a tax on
services. The activity undertaken by the chartered accountant or cost
accountant is similar to saleable or marketable commodities produced
by the assessee and cleared by the assessee for home consumption
under the Central Excise Act. For each contract, tax is for home
consumption under the Central Excise Act. For each contract, tax is
levied under the Finance Acts, 1994 and 1998. Tax cannot be levied
under that Act without service being provided, whereas a professional
tax under Entry 60, of List II is a tax on his status. It is the tax on the
status of a cost accountant or a chartered accountant. As long as a
person/firm remains in the profession, he/it has to pay professional
tax. That tax has nothing to do with the commercial activities which he
undertakes for his client. Even if the chartered accountant has no
work throughout the accounting year, still he has to pay the professional
tax. He has to pay the tax till he remains in the profession. This is the
ambit and scope of Entry 60, List II which is a taxing entry. Entry 60
List II refers to Tax on employments. There is no merit in the contention
advanced by the appellant that the widest possible interpretation should
be given to the word profession in Entry 60, List II. One has to keep
12 November 2007
 Legal World
in mind while interpreting the entries in the three Lists, the distinction 9(Cal)], Ashim Kumar Banerjee & Tapas Kumar Giri, JJ [Decided
between the general entry and the taxing entry. on 27.06.2007]
LW(S) 70.11.2007 Income Tax Act, 1961- Section 43B (f) Deductions based on
actual payment - Provision as to leave encashment-Allowability
A.M.MOOSA v. COMMISSIONER OF INCOME TAX [(2007) 163
condition as to actual payment of leave encashment Whether
TAXMAN 741 (SC)], Dr.Arijit Pasayat & D.K.Jain, JJ [Decided on
constitutionally valid- Held, No.
10-09-07]
Facts: The assessee-company filed writ contending that section
Income Tax Act, 1961- Section 80HHC- Profits from exports-
43B(f) of the Act was ultra vires the law of the land in view of the fact
Whether the term profit means a positive profit- Held, Yes.
that the assessee being a body corporate was entitled to maintain its
Brief Facts: The assessees claim of deduction under section accounts by mercantile system of accounting which is permissible in
80HHC was disallowed on the ground that the profits of the business law. Hence, the amount payable to its employees as leave encashment
computed as per said section indicated a negative figure. On appeal, was to be shown in the balance sheet as a liability for each and every
the Commissioner (Appeals) confirmed the impugned order. On second year and the employer was entitled to have deduction not only in the
appeal, the Tribunal allowed the assessees appeal. On reference, year in which it was actually paid, but also for the years when provision
the High Court decided the same in revenues favour. The assessee was made. Single Judge dismissed the writ petition. The assessee
approached the Supreme Court. appealed to the Division Bench.
Decision: Appeal dismissed. Decision: Appeal allowed.
Reason: Section 80HHC has been incorporated with a view to Reasons: On a perusal of the object and reasons as disclosed by
provide incentive to export houses. Even though a liberal interpretation the Finance Act, 1983 for enacting section 43B, it would appear that
has to be given to such a provision, the interpretation has to be as per the Legislature expressed concern about the unreasonable deduction
the wordings of the section. If the wordings of the section are clear, claim on the basis of mercantile accounting method without discharging
then benefits which are available under the section cannot be conferred statutory liabilities. It was observed by the Legislature that there had
by ignoring or misinterpreting words in the section. Sub-section (3) (a) been a trend to evade statutory liabilities on the one hand, and claim
deals with the case where the export is only of self manufactured appropriate benefit under the Act, on the other hand. Hence, such
goods. Sub-section (3) (b) deals with the case where the export is enactment was necessary.
only of trading goods. Thus, when the Legislature wanted to take export
The said section had undergone several changes from time to time
from self manufactured goods or trading goods separately, it has
and on each and every occasion, the Legislature came out with the
already so provided in sub-section (3) (a) and (3) (b). It would not be
objects and reasons disclosed thereof. While inserting clause (f), no
denied that the word profit in section 80HHC (1) and section 80HHC
special reasons were disclosed. The Single Judge held that such
(3) (a) or (3) (b) means a positive profit. In other words, if there is a
disclosure was not mandatory. There was no reason for disagreement
loss, then no deduction would be available under section 80HHC (1)
on such issue, provided the subject amendment could be termed as
or (3) (a) or (3) (b). In arriving at the figure of positive profit, both the
in furtherance to widen the scope of the original section on the identical
profits and the losses will have to be considered. If the net figure is a
objects and reasons as disclosed at the time of enacting the original
positive profit, then the assessee will be entitled to a deduction. If the
provision. As the original section was incorporated to plug in deduction
net figure is a loss, then the assessee will not be entitled to a deduction.
claimed by not discharging statutory liabilities, the provision was
Sub-section (3) (c) deals with cases where the exports is of both self-
subsequently made to restrict deductions on account of unpaid loan
manufactured goods as well as trading goods. The opening part of
to the financial institutions. Leave encashment is neither a statutory
sub-section (3) (c) states profits derived from such export shall. Then
liability nor a contingent liability. It is a provision to be made for the
follow clause (i) and (ii). Between clauses (i) and (ii) the word and'
entitlement of an employee achieved in a particular financial year. An
appears. A plain reading of sub-section (3)(c) shows that the profits
employee earns certain amount by not taking leave which he or she is
from such exports have to be profits from exports of self-manufactured
otherwise entitled to in that particular year. Hence, the employer is
goods plus profits from exports of trading goods. The profit is to be
obliged to make appropriate provision for the said amount. Once the
calculated in the manner laid down in sub section (3) (c) (i) and (ii).
employee retires, he or she has to be paid such sum on cumulative
The opening words profit derived from such exports together with the
basis which the employee earns throughout his or her service career,
word and clearly indicate that the profits have to be calculated by
unless he or she avails of the leave earned by him or her. That could
counting both the exports. It is clear from a reading of clause (i) of
not have any nexus with the original enactment. An employer is entitled
section 80HHC(3) that a deduction can be permitted only if there is a
to deduction for the expenditure he incurs for running his business,
positive profit in the export of both self-manufactured goods as well as
which included payment of salary and other perquisites to his
trading goods. If there is a loss in either of the two, then the loss has
employees. Hence, it is a trading liability. As such, he is otherwise
to be taken into account for the purpose of computing profits.
entitled to have deduction of such amount by showing the same as a
The plea that the word profit in section 80HHC (3) (c) would not provisional expenditure in his accounts.
include losses and if there are any losses, they are to be ignored, was
The Legislature by way of an amendment restricts such deduction
clearly without substance. Firstly, it is not necessary that the word
in the case of leave encashment unless it is actually paid in that
profit must have the same meaning. The meaning of the word profit
particular financial year. The Legislature is free to do so after it discloses
will depend on the context in which it is used. In section 80HHC (1), it
reasons for that and such reasons are not inconsistent with the main
is admittedly used to indicate positive profit because the deduction
object of the enactment. There was no such reason for perusal. The
will only be of a positive profit. Section 80HHC (3) is the sub-section
revenue could not enlighten on that score. Such enactment is not
which provides how profits are to be worked out in computing total
consistent to plug in evasion of statutory liability. The Apex Court
income. For the purpose of such computation, both profits and losses
considered the situation in Bharat Earth Movers v. CIT [2000] 245 ITR
have to be taken into account. Thus, the word profit in section 80HHC
428 when clause (f) was not there. The Apex Court, considering all
(3) will mean profits after taking into account losses, if any. More
aspects rejected the contention of the Revenue and granted appropriate
importantly, the term profit in section 80HHC both in sub section (1)
deduction to the concerned assessee. The Legislature to get rid of the
and in sub section (3) means a positive profit worked out after taking
decision of the Apex Court brought about the amendment which would
into consideration the losses, if any. Thus, the word profit has the
otherwise nullify the Judge made law. The Apex Courts decisions are
same meaning in sections 80HHC (1) and (3).
Judge made law and are applicable to all under the Constitution. The
LW(S) 71.11.2007 Legislature was entitled to bring such amendment; it was within its
EXIDE INDUSTRIES LTD. v. UNION OF INDIA [(2007)164 Taxman power to bring such amendment. However, it must disclose reasons

Student Company Secretary 13 November 2007

 Legal World
which would be consistent with the provisions of the Constitution and
the laws of the land and not for the sole object of nullifying the Apex
Court decision.
The appeal is and section 43B (f) is to be struck down being arbitrary,
unconscionable and dehors the Apex Court decision in Bharat Earth
Movers (supra).
THE COMPETITION ACT ACT,, 2002
IELIL-INTERMEDIATE/FSPELDC-FINAL
The students are informed that the following Sections of the
Competition Act, 2002 are applicable for December, 2007 examination:
Short Title, Extent and Commencement (Section 1), Definitions
(Section 2) Establishment of Commission (Section 7) Composition
of Commission (Section 8), Selection of Chairperson and Other
Members (Section 9), Terms of Office of Chairperson and Other
Members (Section 10), Resignation, Removal and Suspension of
Chairperson and other members (Section 11); Restrictions on
Employment of Chairpersons etc. (Section 12), Financial and
Administrative Powers of Member-Admininstration (Section 13)
Salary etc. of Chairperson and Other Members (Section 14),
Vacancy etc. not to invalidate proceedings of Commission (Section
15) Appointment of Director General (Section 16), Registrar and
Officers of Commission (Section 17), Benches of Commission
(Section 22), Distribution of Business of Commission (Section 23),
Appearance before Commission (Section 35), Competition Advocacy
(Section 49), Finance, Accounts and Audit (Sections 50, 51, 52 and
53), Miscellaneous (Section 54, 55, 56, 57, 58, 59, 60, 61, 62, 63
Section 64 and 65.
Students are advised to refer these Sections if any question is
posed on the Competition Act, 2002. A comparison of the provisions
of the MRTP Act, 1969 and the provisions of the Competition Act,
2002 is desirable to highlight the changes inserted by the
Competition Act, 2002.
Since all the Sections of the Competition Act, 2002 have not
come into force till now, the students may refer to provisions of
MRTP Act, 1969. However, credit will be given to the students if
they also refer the provisions of the Competition Act, 2002, while
answering the question based on MRTP Act, 1969.
STUDENTS QUIZ
PRIZE QUERY
A reference was pending before the BIFR against a sick
industrial company. The said company did not refund the
matured deposits to the depositors. The depositors
approached the Company Law Board for getting redressal for
their grievances. Can the Company Law Board entertain their
petition?
CONDITIONS
1. Answer should not exceed one page typed in double space.
The answer sheet should contain the name, registration number
and address of the student.
2. Last date for receipt of answer is 16th December, 2007.
3. Two prizes (a first and a second) in kind will be awarded to the
best answers and the names of the contributors will be published
in the Bulletin.
4. The envelope should be superscribed Students Query,
November 2007 and addressed by name to N.K. Jain,
Secretary & Chief Executive Officer, The Institute of Company
Secretaries of India, ICSI House, 22, Institutional Area, Lodi
Road, New Delhi-110003.
Student Company Secretary
ATTENTION-STUDENTS
INTERMEDIATE COURSE
INTERMEDIATE
TAX LAWS-2007 SERIES (STUDY MATERIAL)
Some inadvertent errors have crept in the printed copy of the study
material. Students may update their study material as per the errata
given below:
ERRATA
1. ON PAGE iii. LAST PARA-FIRST LINE : Read , ".... Assessment
Year for June 2008 and December 2008.." instead of "... Assess-
ment year for June 2008 and December 2009."
2. In Test Paper 1/2007(Optional), Page: 761Question No. 3: For
Marks: read as 4 marks each instead of 5 marks each
3. In Test Paper 2/2007(Optional), Page: 764 Question No.
2:For Marks: read as 16 marks instead of 20 marks
4. In Test Paper 3/2007(Compulsory), Page 765, add the following
sentence after Part A (Attempt ANY FOUR questions from this
part including Q.1 which is Compulsory). In page 766,add the
following sentence ,after Part B : (Answer any TWO questions
from this part).
In page 766 For Marks
Read marks for Q. 6(a): 5 Marks, Q. 6(b): 5 Marks, Q. 6(c): 5
Marks, Q. 6(d): 5 Marks,
Read marks for Q. 7(a): 6 Marks, Q. 7(b): 7 Marks, Q. 7(c): 7
Marks,
Read marks for Q. 8 (a) : 7 Marks, Q. 8 (b): 6 Marks, Q. 8 (c): 7
Marks,
In Test Paper 4/2007(Compulsory), page 769, add the following
sentence, after Part B (Answer any TWO questions from this
part).
Page 769 for Marks
Read marks for Q. 6(a) :7 Marks, 6(b): 6 Marks, 6(c): 7 Marks,
Read marks for Q. 7(a) :7 Marks, 7(b): 7 Marks, 7(c): 6 Marks,
Read marks for Q. 8(a) :7 Marks, 8(b): 7 Marks, 8(c): 6 Marks,
In Test Paper 5/2007(Compulsory), page 771, add the following
sentence after Part B: (Answer any TWO questions from this
part)
Page 771 for Marks
Read marks for Q. 6(a) :7 Marks, 6(b): 7 Marks, 6(c): 6 Marks,
Read marks for Q. 7(a) :7 Marks, 7(b): 7 Marks, 7(c): 6 Marks,
Read marks for Q. 8(a) :7 Marks, 8(b): 6 marks, 8(c): 7 Marks,
At the end of Page 771 after Q.No.7(a) insert the following:
Q7(b): Explain Assessable value for job work under Central Excise
Law. (7 Marks)
Q7(c): Write short note on Cenvat Credit Rules, 2004. (6 Marks)
Q8(a): Who is liable to pay Excise Duty? Explain briefly the payment
procedures of such duties.(7marks)
Q8(b): What is the procedure for referring a case to the High Court
from CESTAT?(6 Marks)
Q8(c): Explain the reasons for prohibiting imports/exports of Goods
under Section 11 of the Customs Act, 1962. (7 Marks)
14 November 2007
 Student Services
STUDENT SERVICES
REGISTRATION AND POSTAL TUITION
1. Cancellation of Registration
Registration of students registered upto and including November,
2007 stands terminated on expiry of five-year period on 30 th
NOVEMBER, 2007 leading to the following immediate consequences:
(a) Supply of Student Company Secretary bulletin will be dis-
continued from December, 2007 onwards.
(b) Response sheets will not be accepted even if submitted and
coaching completion certificates will not be issued (after the
expiry of registration period)
(c) They are advised to apply for registration de novo/extension
of registration as per the guidelines published in this bulletin.
(Students whose registration is valid upto August, 2007 are however,
eligible to appear in December, 2007 examination without seeking
extension of registration/ registration de-novo subject to fulfilling other
requirements as laid down in the regulations.)
2. Change of Address
Change of address, if any, should be intimated to the Institute by
sending a separate letter in this regard. While intimating the change in
their mailing address, the students are advised to invariably quote the
PIN CODE number alongwith the student registration number, name
and full postal address with city, state in capital letters.
PIN CODE is required to be mentioned for quick delivery of the
mail. Students may, therefore, check up the computerised mailing
address as printed on the Student Company Secretary bulletin. In
case, it does not carry or carry the wrong PIN CODE number, the
same may be intimated immediately quoting student registration
number and full postal address with Postal Index Number so that it
could be incorporated in the computerised mailing list.
3. E-Mail Address of the Students
Those students who are having e-mail address may communicate
the same to the Student Services Section at dss@icsi.edu which will
facilitate quick and economic communication from the Institutes side.
The e-mail address may be sent in the following format.
Name : the attested photocopies of marks sheets for all parts of the De-
Registration No. : gree/examination (on the basis of which the paperwise exemp-
E-Mail Address : one time payment and not to be remitted for availing of paper
4. Students Identity Card
All the students appearing in the examination must hold Identity
Card in the manner prescribed by the Institute, if not already obtained
at the time of seeking registration. For obtaining the Identity Card,
students are advised to obtain a proforma from the Headquarters/
Regional Offices of the Institute and send it again to the Institute duly
filled up and attested as per instructions given in the prospectus/
registration letter.
Students who have so far not obtained Identity Cards are advised
to write to the Institute immediately. The students should carry their
Identity Cards without fail for appearing in the Institutes examination.
If the Identity Card already issued has been lost or mutilated, student
should send a request for obtaining duplicate Identity Card together
with the mutilated Identity Card/Identity Card proforma duly filled in
and attested together with Rs. 50/- towards duplicate Identity Card
fee.
5. Uniformity in Signatures
It has been observed that some of the enrollment applications /
letters received from the students are either unsigned or bear different
Student Company Secretary
signatures from time to time.
All the students are, therefore, advised to maintain uniformity in
their signatures on all the correspondence with the Institute including
students identity card, enrollment application and attendance sheet
provided in the examination hall at the time of writing examinations.
6. Compulsory Enrolment for Final Course
Students who have passed/completed both groups of Intermediate
examination are advised to seek compulsory enrolment for undergoing
coaching for the Final course on payment of Rs.4200/- towards postal
tuition fee.
Please note that a student is admitted to the final examination only
after a minimum period of nine calendar months has elapsed since
his/her passing the Intermediate examination and subject to completion
of coaching and fulfillment of other requirements.
7. Issue of Admission Certificates for December, 2007
Examination
The admission certificates for December, 2007 examination to all
the eligible students would be dispatched by ordinary post by 30th
November, 2007. The Admit Card Extracts are also available in the
website of the Institute viz. www.icsi.edu since 10th November, 2007.
All the students are hereby advised to carefully check up the
particulars viz. Name ,Regn no. Centre, Medium, Group, Exemptions
granted, etc. Printed on admit card and/or shown in the Admit Card
Extracts which are available on the website of the Institute. If they
come across any discrepancy, it should at once be brought to the
notice of Mr. T P Balasubramanian, Administrative Officer (Te1.95120-
4239994 to 99 (Extn 2123) for verification/ rectification.
While the requests for duplicate Admission Certificates are promptly
being attended to by the Headquarters, students may, as per their
convenience, also download Admit Card Extract from the website of
the Institute which alongwith the Student Identity Card issued by the
Institute would be equally valid for appearing in the CS Examination.
Alternatively, the students may approach Regional/Chapter/Satellite
Chapter Offices for issue of duplicate Admission Certificates from
21st December, 2007 onwards.
8. Clarification regarding Paperwise Exemption
(a) The paperwise exemption is granted only on the basis of specific
request received in writing from a registered student along with
tion is sought) and the exemption fee @ Rs. 100/- per paper. It is
wise exemption in every session of examination during the valid-
ity of registration period.
(b) The application for claiming paperwise exemption must reach the
Institute on or before the last date for submission of enrolment
application i.e. 25th March and 25th September for June and De-
cember examinations respectively and with a late fee of Rs.
100/-, the application can be accepted upto 9th April and 10th Oc-
tober respectively.
(c) The paperwise exemption once granted holds good during the
validity of registration period or passing/completing the
examination, whichever is earlier.
(d) The paperwise exemption is cancelled only on receipt of a specific
request in writing from the student concerned on or before the
last date for submission of the enrolment application. If any
candidate appears in the exempted paper(s) of examination
without receiving the written confirmation from the Institute, but
by making personal representation, appeal, request, etc., at the
Examination Centre at the last moment, his/her appearance in
such paper(s) shall automatically be treated as cancelled.
15 November 2007
 Student Services
(e) It may be noted that candidates who apply for grant of paper wise
exemption or seek cancellation of paper wise exemption already
granted, before the last date of submission of enrolment
applications for a particular examination, must see and ensure
that they receive written confirmation from the Institute at least
15-20 days prior to the commencement of the examination.
Candidates who would presume automatic grant or cancellation
of paper wise exemption without obtaining written confirmation
on time and absent themselves in any paper(s) of examination
and/or appear in the exempted paper(s) would do so at their own
risk and responsibility and the matter will be dealt with as per the
above guidelines.
(f) Exemption once cancelled on request in writing shall not be
granted again under any circumstances.
(g) The candidates who have passed either group of the Intermediate/
Final examination under the old syllabus, may claim the paperwise
exemption in the corresponding subject(s) of new syllabus
indicating the basis of exemption as APO in the appropriate
column of the enrolment application.
(h) In case the paperwise exemption has already been granted on
the basis of qualification or the candidates is eligible for grant of
exemption on the basis of securing 60% or more marks, a
photocopy of the letter/marks-sheet issued by the Institute should
be enclosed with the enrolment application while claiming such
exemption, failing which the same may not be granted for the
ensuing examination.
(i) No exemption fee is payable for availing paperwise exemption on
the basis of APO or on the basis of securing 60% or more marks
in the Institutes examination.
(j) Paperwise exemption fee is payable only when the exemption is
to be availed on the basis of qualification(s) specified for the
purpose.
9. Exemption from Computer Training
A student can be exempted from undergoing the course on the
basis of his existing qualification/degree in the computer field and
qualifies the need of Course Contents Syllabus as scheduled by
NIIT for C.S. Students, subject to the condition that he or she enrolls
himself/herself for an online exemption test (to be conducted by NIIT)
from any of the NIIT Center on all India basis and successfully clears
the test.
10. Important
While making any correspondence regarding examination, the
students are advised to quote the following particulars for taking prompt
action :
i) Name in full (ii) Student Registration number (iii) Stage of
examination (Intermediate/Final) (iv) Group opted (v) Centre opted
(vi) Particulars of fee remitted, i.e. Demand Draft (printed) number,
date , amount, name of the bank and its branch (vii) Date and mode of
despatch of enrolment application and their complete address with
PIN code, telephone number, mobile number or e-mail address.
In case of any specific problem/complaint regarding registration,
post-registration, students services and postal/oral coaching, students
may contact personally or write to Shri Sohan Lal, Joint Director and
for academic guidance and suggestions, if any, students may write to
Shri Balwant Kulkarni, Director at the Institutes address.

OPPORTUNITY
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Apply Immediately with Complete Bio-data for the post of

CORPORATE ASSISTANTS
to
Box No. 146
C/o Student Company Secretary
The Institute of Company Secretaries of India
22, Institutional Area, Lodi Road, New Delhi-110003
Student Company Secretary 16 November 2007
 Student Services
EXAMINATION
1. DECEMBER, 2007 EXAMINATION
The next examination for the Foundation Course, Intermediate and
Final, scheduled in December, 2007, will be held from Wednesday,
the 26th December, 2007 to Thursday, the 03rd January, 2008, as per
the Time-Table and Programme published on the last cover page of
this issue.
The list and addresses of the examination centers is also published
elsewhere in this issue.
NOTE:
1. #Aurangabad and Bareilly Examination Centres are
opened for June, 2007 and December, 2007 sessions only
purely on an experimental basis.
2. *Kolhapur and Srinagar Examination Centres are opened
for June, 2007, December, 2007 and June, 2008 sessions
only purely on an experimental basis.
3. The Institute reserves the right to withdraw any centre
at any stage without assigning any reason.
2. USE OF CALCULATORS IN EXAMINATIONS
Candidates are allowed to bring and use their own battery operated,
noiseless and cordless pocket calculators with not more than 6
functions, 12 digits and 2 memories. Exchange or lending/borrowing
of calculators among students is forbidden in the examination hall.
Use of calculators not conforming to above specifications shall not be
allowed in the Examination
3. HINDI AS AN OPTIONAL MEDIUM OF WRITING
EXAMINATION
Candidates are allowed to use Hindi as an optional medium for
writing all papers of the Foundation (except: English & Business
Communication paper), Intermediate and Final examinations on the
following conditions:
(i) option of Hindi Medium for writing the examination is to be
exercised for all papers of an examination OR a particular
group of examination, and not for any individual paper(s) in
the enrolment application form each time for appearing in
the examination;
(ii) option of medium for writing examination once exercised is
irrevocable for that particular session of examination;
(iii) answer books of candidates who write part of papers/answers
in one medium and the remaining part in other medium are
liable to be cancelled without any notice;
(iv) candidates who have exercised option of Hindi medium in
their examination enrolment form for writing Foundation
examination and Group-I of Intermediate examination will
be provided Question Papers printed both in English and
Hindi version (except for English & Business
Communication paper, which will be printed/required
to be answered in English only). The Question Papers for
Group-II of the Intermediate examination and all papers of
Final examinations will be printed in English version only;
(v) if a candidate writes his/her answers in Hindi medium without
exercising such an option in the enrolment application form,
he/she may not be given credit for his/her answers;
(vi) candidates opting Hindi medium for the examination must
write HINDI MEDIUM in bold letters on the top of the cover
page of Answer Book No.1, 1B, as the case may be; and
(vii) candidates opting Hindi medium for the examination may
write answers to practical questions, headings, quotations,
technical and legal terms, sections, rules, etc., in English
medium, if they so desire.
4. IMPORTANT INSTRUCTIONS TO EXAMINEES
Candidates enrolled for appearing in the December, 2007
Student Company Secretary
examinations are advised to carefully read and observe the
Instructions to Examinees printed on the Admission Certificate
(Roll Number) and enclosures thereto, and also on the Question
Papers and Answer Books. However, attention of candidates is
especially invited to the following instructions:
(i) on receipt of Admission Certificate (Roll No.), first of all, the
candidates must verify carefully the entries appearing therein.
Discrepancy/error, if any, in the Admission Certificate
concerning spellings of his/her name, stage of examination
and examination centre; medium of writing the answers,
subject of examination in which exemption was sought/
shown, etc., should, at once, be brought to the notice of the
Shri Sohan Lal, Jt. Director (Students Services) well on time
before commencement of the examination;
(ii) candidates are required to bring daily to the Examination
Hall their Admission Certificates and Student Identity Cards
failing which they may not be allowed admission to the
Examination Hall and/or to appear in the examination;
(iii) before attempting to write answers in the answer book,
each candidate must write his/her Roll Number on the
special slip affixed to Answer Book Nos. 1, 1-B and 1-C,
date of examination, stage of examination, name of the
paper, etc. against the relevant columns on the first page
of the main answer book and also on the top of Question
Paper;
(iv) candidates must attempt questions in accordance with
the directions given on each Question Paper. If the
questions are attempted in excess of the prescribed
number, only the questions attempted first upto the
required numbers will be valued and awarded marks and
the remaining questions will be ignored;
(v) Questions relating to graph/prcis should be attempted only
on graph/prcis sheets appended as last page to the Answer
Book wherever required. Do not write your roll number on
the Graph/Prcis Sheets and additional Answer Book No. 2.
The additional answer book(s) used, if any, should be
fastened along with the main answer book. Candidates who
fail to observe this instruction will be penalised;
(vi) each question should start on a fresh page and sub-
question(s) be attempted consecutively;
(vii) while attempting a fresh question/sub-question, candidates
should distinctly mention respective question number against
the answer in bold capital letters with coloured sketch pen/
different colour ink and underline the same [(e.g. ANS. TO
Q. NO. 3(A)] on the left-hand side margin of the answer book
and also simultaneously mark (X) in the table provided on
the cover page against the respective question number;
(viii) candidates must not, for any reason whatsoever, tear out
any page(s) from the Answer Book or leave any blank page
or unused spaces in between the pages. If such spaces are
left score them out. If a candidate uses more than one answer
book, he/she should, indicate on the cover page of main
answer book, the total number of answer books used by
him/her;
(ix) candidates are expected to write precise and to the point
answers to questions set in for the examinations in neat
and legible handwriting citing relevant provisions of the
Act/rules quoting case laws, etc., in support of the
answers wherever applicable;
(x) no candidate shall leave/be allowed to leave the
Examination Hall; (i) within first one hour of
commencement of examination (ii) during last 15 minutes
of examination timing; (iii) without signing the
attendance sheet; and (iv) without properly handing over
his/her answer books to the Invigilator on duty;
18 November 2007
 Student Services
(xi) a few minutes prior to the time of conclusion of 3. ALLAHABAD COLONELGANJ INTER COLLEGE
examination or before handing over the answer books
51, TAGORE TOWN, ALLAHABAD -
to the supervisory staff, candidates must re-check and
211002
ensure that they have filled up relevant particulars on
the cover page of Answer Book Nos. 1, 1-B and 1-C, as 4. AMBALA SHRI ATMANAND JAIN COLLEGE
the case may be, and properly tied up all the additional JAIN COLLEGE ROAD, AMBALA
answer book(s) No.2 along with the main answer book; CITY-134002
(xiii) candidates are strictly forbidden to carry with them into
the Examination Hall any book or printed/handwritten 5. AURANGABAD MANIKCHAND PAHADE LAW
material, notes, pager, mobile phone, etc., OR to talk or COLLEGE, SAMARTH NAGAR,
converse inter se with other candidates in the NIRALA BAZAR, AURANGABAD -
Examination Hall; 431001
(xiv) candidates are strictly warned against any attempt to copy 6. BANGALORE PICCARDO HALL, ST JOSEPHS
from the answer papers of any other candidate nor allow INDIAN COMPOSITE, P. U.
their answers to be copied nor give nor attempt to give nor COLLEGE, 2, VITTAL MALLYA ROAD,
obtain nor attempt to obtain irregular assistance of any BANGALORE - 560001
description. It will be the responsibility of each and every
candidate to ensure that his/her answers are not copied by 7. BAREILLY MANOHAR BHUSHAN INTER
another candidates. Failure to do so will invite stern COLLEGE, NAINITAL ROAD,
disciplinary action and penalty for adoption of unfair means; BAREILLY - 243001
(xv) no candidate shall leave his/her seat in the examination 8. BHILWARA SMT. SUSHILA DEVI MATHUR P.G.
hall during the course of examination without the specific GIRLS COLLEGE, MAHILA ASHRAM
permission of the Invigilator on duty for any reason PATHIK NAGAR, BHILWARA - 311001
whatsoever;
(xvi) on completion of examination or expiry of the prescribed 9. BHOPAL GOVT. MAHARANI LAXMI BAI GIRLS
examination timing, the answer book(s) must be handed (AUTONOMOUS) COLLEGE (NR.
over immediately to the Invigilator on duty and GOVT. S.V. POLYTECHNIC
Invigilators signature be obtained in the relevant column COLLEGE) BHOPAL - 462002
of acknowledgement printed on the Admission 10. BHUBANESWAR B. J. B. (AUTONOMOUS) COLLEGE
Certificate in token of handing over the answer books. LEWIS ROAD, BHUBANESWAR -
(xvii) it shall be the personal responsibility of the candidate 751014
concerned to properly hand over his/her answer book(s)
to the Invigilator on duty in the Examination Hall and 11. CHANDIGARH I.S. DEV SAMAJ GIRLS, SENIOR
obtain acknowledgement therefor. Any representation SECONDARY SCHOOL, SECTOR
regarding omission to handover the written answer 21-C, CHANDIGARH - 160022
book(s) or not obtaining the acknowledgement from the
12. CHENNAI DR. MGR JANKI COLLEGE OF ARTS
Invigilator at the time of handing over his/her answer
book(s) for any reason whatsoever will not be entertained (SOUTH) & SCIENCE FOR WOMEN, SATHYA-
after the conclusion of that particular session of BAMA MGR MALLIGAI, 11 & 13
examination; DURGABAI DESHMUKH ROAD, R. A.
PURAM, CHENNAI - 600028
(xviii)candidates are warned that any attempt to misbehave in
any manner or create disorderly scene in and around the 13. CHENNAI SRI RAMAKRISHNA MISSION SARDA
examination hall or harass or bodily harm the staff deployed (WEST) VIDYALAYA GIRLS HR. SEC.
for the conduct of examination will be viewed seriously and SCHOOL, 134, USMAN ROAD, T.
severely punished; and NAGAR, CHENNAI 600 017.
(xix) any attempt or act of violation of Instructions to Examinees
14. COIMBATORE PSG COLLEGE OF ARTS & SCIENCE
shall be viewed seriously and entail disciplinary action under
CIVIL AERODROME POST,
the Company Secretaries Regulations, 1982.
COIMBATORE - 641014

COMPANY SECRETARIES EXAMINATION - 15. DEHRADUN GOVERNMENT GIRLS INTER

DECEMBER, 2007 COLLEGE, 22, RAJPUR ROAD,
DEHRADUN - 248001
Addresses of Examination Centres
16. DELHI (EAST) UNDER FINALISATION
S. EXAMINATION CENTRE ADDRESS
NO. CENTRE 17. DELHI (NORTH) JVSD GIRLS SR. SEC. SCHOOL
D-II LINK ROAD, (NEAR BAGGA
1. AGRA DEPTT. OF ACCOUNTS & LAW PETROL PUMP - OPP. HANUMAN
FACULTY OF COMMERCE ST. STATUE), KAROL BAGH, NEW DELHI
JOHNS COLLEGE, AGRA - 282002
- 110005
2. AHMEDABAD DIWAN BALLUBHAI MADHYAMIK
18. DELHI (SOUTH) GURU HARKRISHAN PUBLIC
SHALA, B/H ABAD DAIRY, OPP.
SCHOOL, (ADJOINING GURDWARA
VANIJYA BHAWAN, KANKARIA,
B-BLOCK), B-BLOCK, KALKAJI, NEW
AHMEDABAD 380 022.
DELHI - 110019

Student Company Secretary 19 November 2007

 Student Services
19. DELHI (WEST) DAV PUBLIC SCHOOL, POCKET B - 35. KOLKATA ANGLO-ARABIC SECONDARY
6, SECTOR 7, ROHINI, DELHI - (N2)(AASS) SCHOOL, 46/7, MAHATMA GANDHI
110085 ROAD, KOLKATA - 700009
20. DUBAI THE INDIAN HIGH SCHOOL, OUD 36. KOLKATA - JODHPUR PARK BOYS SCHOOL
MEHTA ROAD P.O. BOX 106, (OPP.
ST. MARRYS CHURCH), DUBAI - SOUTH JODHPUR PARK, KOLKATA - 700068
UAE - 37. LUCKNOW NATIONAL P.G. COLLEGE
21. ERNAKULAM ST. ALBERTS COLLEGE, BANERJI 2, RANA PRATAP MARG, LUCKNOW
ROAD, ERNAKULAM, KOCHI - - 226001
682018
38. LUDHIANA GOVT. COLLEGE (FOR BOYS) CIVIL
22. FARIDABAD VIDYA MANDIR PUBLIC SCHOOL LINES, LUDHIANA - 141001
SECTOR 15 A, FARIDABAD 39. MADURAI THE AMERICAN COLLEGE NEW
121006. BUILDING, TALLAKULAM POST
23. GHAZIABAD SHAMBHU DAYAL (P.G.) COLLEGE MADURAI - 625002
OPP. M.M.G. HOSPITAL, G. T. ROAD 40. MANGALORE S.D.M. LAW COLLEGE
GHAZIABAD 201001. MANGALORE - 575003
24. GURGAON ALPINE CONVENT SCHOOL 41. MEERUT N.A.S. COLLEGE
BEHIND JALVAYU TOWERS E. K. ROAD, MEERUT 250 002.
SECTOR 56, GURGAON - 122003
42. MUMBAI (CG) SYDENHAM COLLEGE OF
25. GUWAHATI GUWAHATI COMMERCE COLLEGE COMMERCE & ECONOMICS
R. G. BARUAH ROAD, GUWAHATI - B. ROAD, CHURCHGATE, MUMBAI
781021 400 020.
26. HYDERABAD WESLEY POST GRADUATE 43. MUMBAI (GTK) SMT. PN DOSHI WOMENS COLLEGE
COLLEGE, 145 MC INTYRE ROAD, OF ARTS (S.N.D.T. COLLEGE),
SECUNDERABAD 500 003. RATAN BAUG, CAMA LANE,
GHATKOPAR (WEST), MUMBAI -
27. INDORE DEVI AHILYA ARTS & COMMERCE
400086
COLLEGE, 8/1, USHA GANJ, JAORA
COMPOUND, INDORE - 452001 44. MUMBAI (JOG) GOVT. OF MAHARASHTRA ISMAIL
YUSUF COLLEGE OF ARTS,
28. JAIPUR UNIVERSITY COMMERCE COLLEGE
SCIENCE & COMMECE,
JAWAHAR LAL NEHRU MARG,
JOGESHWARI (EAST), MUMBAI
JAIPUR - 302004
400 060.
29. JAMMU AUDITORIUM HALL, GOVT. SPMR
COLLEGE OF COMMERCE, CANAL 45. MYSORE SBRR MAHAJANA PRE-UNIVERSITY
ROAD, OLD CAMPUS ROAD, JAMMU COLLEGE, JAYA LAKSHMIPURAM,
- 180001 MYSORE - 570012

30. JAMSHEDPUR MRS. KMPM INTER COLLEGE, MAIN 46. NAGPUR HISLOP COLLEGE, TEMPLE ROAD
ROAD, BISTUPUR, JAMSHEDPUR - CIVIL LINES, NAGPUR - 440001
831001 47. NASHIK BYK COLLEGE OF COMMERCE,
31. JODHPUR ONKARMAL SOMANI COLLEGE OF COLLEGE ROAD, NASHIK - 422005
COMMERCE, Opp. KAMLA NEHRU 48. NOIDA GOVERNMENT INTER COLLEGE,
NAGAR, CHOPASANI ROAD, U - I, SECTOR 12, NOIDA - 201301
JODHPUR - 342009
49. PANAJI S.S.DEMPO COLLEGE OF
32. KANPUR KANPUR VIDYA MANDIR MAHILA COMMERCE AND ECONOMICS ,
(P.G.) MAHAVIDYALAYA, 7/147 SERRA BUILDING (NEAR A.I.R.)
SWAROOP NAGAR, KANPUR - ALTINHO, PANAJI (GOA) - 403001
208002
50. PATNA MAGADH MAHILA COLLEGE, NORTH
33. KOLHAPUR VIVEKANAND COLLEGE GANDHI MAIDAN, PATNA - 800001
204-E, TARABAI PARK, KOLHAPUR -
416003 51. PONDICHERRY BHARATHIDASAN GOVT. COLLEGE
FOR WOMEN (AUTONOMOUS)
34. KOLKATA METROPOLITAN INSTITUTION MAHATMA GANDHI ROAD,
(N1)(MI) (MAIN), 39, SANKHAR GHOSH LANE MUTHIALPET,PUDUCHERRY -
KOLKATA - 700006 605003

Student Company Secretary 20 November 2007

 Student Services
52. PUNE MIT JUNIOR COLLEGE, MIT SCHOOL NOTIFICATION
CAMPUS, 127/1/A, PAUD ROAD,
PUNE - 411038 ICSI NO. 5 OF SEPTEMBER, 2007
MERIT-CUM-MEANS ASSISTANCE SCHEME, 1983
53. RAIPUR SCHOOL OF STUDIES IN
COMPUTER SCIENCE, PT. RAVI In pursuance of para 13 of the Merit-cum-Means Assistance
SHANKAR SHUKLA, UNIVERSITY, (Company Secretaryship Course) Scheme, 1983, as amended
RAIPUR - 492010 upto 15th October, 2006, applications are invited to reach the Institute
in the prescribed form on or before 25th November, 2007 for
54. RAJKOT LT. MJ KUNDALIYA ENGLISH
MEDIUM MAHILA COMM. COLLEGE award of 15 numbers of each financial assistance for pursuing
KASTURBA ROAD, OPP. JAIN Intermediate and Final course of the company secretaryship from
DERASAR, RAJKOT - 360001 students who fulfil the eligibility criteria laid down under the said
scheme.
55. RANCHI D.A.V. JAWAHAR VIDYA MANDIR
SHYAMALI, POST DORANDA, According to the scheme, a candidate applying for assistance
RANCHI - 834002 should have passed Foundation or Both Groups of the Intermediate
56. SHIMLA S.D. SENIOR SECONDARY SCHOOL examination without exemption in any paper, at one sitting, in the
SHIMLA - 171001 first attempt in June, 2007 examination. The income of such a
candidate, if employed or is having an independent source of
57. SRINAGAR FACULTY OF COMMERCE AND
income, should not be more than Rs.1,50,000/- per annum and if
MANAGEMENT STUDIES,
UNIVERSITY OF KASHMIR, he/she is dependent on his/her parents/guardian/spouse whether
HAZRATBAL, SRINAGAR (J&K) - partially or wholly, the combined income from all sources should
190006 not be more than Rs.2,50,000/- per annum.
58. SURAT SIR K. P. COLLEGE OF COMMERCE Prescribed application form together with a copy of the Merit-
SPB VANIJYA VIDYA BHAVAN, cum-Means Assistance (Company Secretaryship Course) Scheme,
ATHWA LINES, SURAT - 395001 1983 can be downloaded from the Institutes website www.icsi.edu
59. THANE K. G. JOSHI ARTS AND N.G. or obtained by post from the Institute free of cost by sending a
BEDEKAR COLLEGE OF COMM. self-addressed envelope of 23 cms. x 11 cms. size duly affixed
CHENDANI, BUNDAR ROAD, THANE with postage stamp worth Rs.10/-. Applications not made on
- 400601 the prescribed forms and/or without supporting documents,
60. THIRUVANAN- GOVT. ARTS COLLEGE, THYCAUD incomplete applications, applications not fulfilling the eligibility
criteria laid down under the scheme or applications not reaching
THAPURAM POST, THIRUVANANTHAPURAM -
695014 the Institute on or before 25th November, 2007 are liable to be
rejected.
61. TIRUCHIRA- ROOM NO. 33, LH BLOCK, 1ST FLOOR BY ORDER OF THE COUNCIL
PALLI ST. JOSEPHS COLLEGE File No.207: Exams:2007
(AUTONOMOUS) TEPPAKKULAM
(POST), TIRUCHIRAPALLI - 620002 New Delhi 110 003. (N. K. JAIN)
Dated, the 5th September, 2007 Secretary & CEO
62. UDAIPUR M.V. SHRAMJEEVI COLLEGE, NEAR
TOWN HALL, LINK ROAD, UDAIPUR
- 313001
PROHIBITION ON CARRYING MOBILE
63. VADODARA FACULTY OF LAW, M.S. UNIVERSITY
OF BARODA, NEAR RAILWAY PHONES TO EXAMINATION VENUE
STATION, SAYAJIGANJ, VADODARA
- 390002 Candidates intending to appear in the Company
Secretaries examinations may note that carrying
64. VARANASI MAHATMA GANDHI KASHI
VIDYAPEETH, M.B.A. BUILDING, of Mobile phones, pagers or any other
VARANASI 221 002. communication devises are strictly prohibited into
65. VIJAYAWADA SATAVAHANA COLLEGE, the premises where Company Secretaries
SITARAMAPURAM, ELURU ROAD , examinations are conducted. Candidates are,
VIJAYAWADA - 520002
therefore, advised not to bring any such prohibited
66. VISAKHA- VISAKHA GOVT. DEGREE COLLEGE items to the examination venue, as the Institute
PATNAM (WOMEN), OLD JAIL ROAD, DABA and/or the Examination Centre Staff shall not be
GARDENS, VISAKHAPATNAM -
530020 responsible for safekeeping of any such item(s).
Infringement of these instructions shall tentamount
67. YAMUNA D.A.V. COLLEGE FOR GIRLS,
NAGAR JAGADHARI ROAD, YAMUNA NAGAR
to adoption of unfair means and entail disciplinary
- 135001 action.

Student Company Secretary 21 November 2007

 News and Announcements
NEWS AND ANNOUNCEMENTS
EASTERN INDIA REGIONAL COUNCIL
BHUBANESWAR CHAPTER
Interactive Meeting with the Passed out Students
On 2.9.2007 the Chapter organized at its premises an interactive
meeting with the passed out students of Foundation, Intermediate
and Final Courses of the Institute in June 2007 examination. While
congratulating all the passed out students,P.K.Sahoo, Chairman, D.
Saha, Vice Chairman, S.S. Sonthalia, Regional Council Member of
EIRC, B.K. Sahu, Secretary,Sunita Mohanty, Treasurer, S.K. Sahoo,
T.K. Sahu and S.S. Mishra, Members of the Managing Committee
addressed the students and gave valuable inputs for study and
examination. They stressed to enhance the communication and
presentation skills of the students
Study Circle Meeting on How to Make Money from Stock
Market
On 2.9.2007 the Chapter organized a students Study Circle Meeting
on The Basics of Stock Market which was attended by Foundation,
Intermediate & Final level students of the Chapter. Guest Speaker K.
Sanjeeb Patra, Director, SMA e-Experts (P)Ltd. Bhubaneswar said
that the secondary market in India is growing which is the topic for
discussion round the globe. Indian economy is going stronger. Financial
Institutions as well as Indian Asset Management Companies have
entered the market in a big way. The investment in equity has shown
a dramatic return as compared to other returns like bank, FDs, gold,
silver, NSC/KVP bonds etc. However the robust growth in various
sectors like power, infrastructure, IT, Banking, Steel, developers/
estates, auto etc. had shown a lucrative results in the last few year.
This is the era of joint venture, amalgamations, merger etc. which
give value added services to their clients. Due to strong rupee
appreciation most of the foreign investments are directed towards India
which is a good sign. Now Indian stock market is an investment hub
for foreign investment. It is a global point of view. He also provided few
tips on the e-merging stock market, which will definitely help common
investors to make money from the stock market.
B.K. Sahu, Chapter Secretary advised the students to inform their
friends about the profession of CS course and advised them to
participate in all the programmes being conducted for the students.
Second Training Orientation Programme
From 8.9.2007 to 12.9.2007 the Chapter conducted its Second
Training Orientation Programme for the Interemdiate/Final passed
students of the Institute at its premises. The programme was
inaugurated on 8.9.07 by B.Mohanty, Registrar of Companies, Orissa
as the Chief Guest. K.N. Ravindra, Company Secretary,NALCO
Bhubaneswar was as the Guest of Honour.
Speaking on the occasion, ROC, MCA Orissa thanked the Chapter
of the Institute for its regular activities for the benefit of the students.
He also spoke on the significance of training needs and its usefulness.
K.N. Ravindra addressed the students on Drafting of Minutes, Notices,
Resolutions etc. and Managing under crisis. Sunita Mohanty, Treasurer
and Course Coordinator of the programme apprised the students about
the structure of the training programme and its importance and asked
the students to give their suggestion for its future improvements.
On 12.9.2007 at the valedictory session D. Saha, Vice Chairman
of the Chapter distributed the training completion certificates to the
participants.
Student Company Secretary
Study Circle Meeting on Service Tax
On 1.10.2007 the Chapter organized a study circle meeting at its
premises for the students on Service Tax. J. Ravi Kumar, CFO, the
Dhamraport Company Limited, Bhubaneswar was the main speaker.
The talk was supported by multimedia presentation which made the
session very lively and interesting. Students raised several queries on
the topic which was nicely clarified by the guest speaker.
NORTH EASTERN CHAPTER
Training Orientation Programme (TOP)
From 6.10.2007 to 10.10.2007 the NE Chapter of EIRC of the ICSI
organized Training Orientation Programme (TOP) for Intermediate
passed students for the second time at Guwahati (for five days) under
the Programme Coordinator Ashok Kumar Agarwala. In all 11 (eleven)
students participated the programme. On 6.10.2007 the Training
Programme was inaugurated in the presence of Chapter Chairman
Narayan Sharma & other Managing Committee Members. The Chapter
Chairman in his welcome address hoped that the programme will be
beneficial to the students. Programme kits were distributed to the
students in the inaugural session of the programme. The programme
schedule which was prepared covering all the topics as per guidelines
& consulting with the faculties were announced in the inaugural session
and copies of the programme schedule were distributed among the
participants. Candidates filled up the Final Reaction Sheet at the end
of the programme.
Certificates were issued to the students at the valedictory session
of the programme by the Chapter Chairman as well as by the
Programme Coordinator. The participants narrated their experience
and expressed their satisfaction over the programme.
The topics discussed and the faculty during the five days of TOP
were as under :
The topic Code of Conduct and Importance of Training were dealt
with by Narayan Sharma, Chapter Chairman; Computer Internet/E-
Mail by Anjan Talukdar, Chapter Secretary, How to Qualify professional
examination, Future Prospect of Company Secretary and Managing
Under Crisis by Rajkumar Sharma, Managing Committee Member of
the Chapter, Group discussion, Time Management, Writing of
Curriculum Vitae & Writing Skills and Interview Techniques & Self
Assessment, SWOT Analysis, Career Prospects & Personality were
dealt by Jagadish Nath, Faculty from ICFAI, Guwahati; Usefulness of
Yoga & Stress Management by G.R. Sharma, Yoga Acharya & by
profession an Advocate from Guwahati; Role & Functioning of
ROC(Practical Aspects) by Manoj Kedia, Manager, Facilitation Centre,
MCA-21; Role & Functioning of Stock Exchange/SEBI, RBI, DRT &
Capital Markets (Practical Aspects) by Manish Jain, Managing
Committee Member of the Chapter; Organisation Structure, Role and
Functioning of Competition Commission of India, NCLT/NCLAT/ROC
by Biman Debnath, Chapter Treasurer, File Management (Organisation
& Structure) by P. Gaggar, Chapter Vice Chairman, Usefulness of
reading newspaper by Dr. Debabrata Mukherjee, Faculty Member of
the Chapter; Drafting of Minutes, Notices, Resolution etc., Stress
Management for Students, Career Planning, How to Carry Oneself,
Meaning of Professional, Personality Development & Dress Code and
Usefulness of Professional Development Programmes,
Communication Skill, Writing ability, speaking ability, Drafting of letters
& Office Culture were dealt by Ashok Kumar Agarwala, Programme
Coordinator, TOP, of the Chapter.
Usefulness of reading Newspaper is no more interesting. Rather
Stress Management is preferred more by the students. Some students
gave emphasis on practical demonstration of File Management.
22 November 2007
 News and Announcements
Earlier Ashu Gupta, Chairperson, SMTP Committee of NIRC while
NORTHERN INDIA REGIONAL COUNCIL initiating the proceedings of the programme said that SMTP is an
experience in itself. The main thrust of SMTP is on practical aspects
REFRESHER CLASSES THROUGH INTERACTIVE LEARNING and interaction with the expert faculties. These 15 days will bring bond
FOR JUNE 2008, EXAMINATION of friendship which will be everlasting.
DATE OF COMMENCEMENT OF CLASSES: 10th JANUARY, 2008 Hitender Mehta, Vice Chairman, NIRC said that idea of SMTP is to
VENUE: NIRC-ICSI, 4, PRASAD NAGAR INSTITUTIONAL develop batch hood concept. He briefed the participants about SMTP.
AREA, NEW DELHI-110005. He appreciated the yahoo group created by the last SMTP participants.
It will work as knowledge Resource and beneficial to survive in the
STAGE TIMINGS NO. OF FEE DAYS corporate world for the participants. He suggested them to be interactive
LECT- (RS.) during SMTP, choose any one area and to have expertise in that area.
URES S. Kumar, Sr. Director (Training, Membership & Legal) of the ICSI
discussed the previous training requirements of the CS curriculum
FINAL
and informed the participants the TOP, ADP etc. were later included in
GROUP I 3.00 P.M.- 90 4,500/- MON., WED., the syllabus and which proved to be beneficial for the students. He
7.00 P.M. FRI. said that Industry/Clients expect a lot from the Company Secretary.
He suggested that focus should be on the overall development like
GROUP III 3.00 P.M.- 104 5,500/- TUES, personality, confidence, communication skills, presentation skills, etc.
7.00 P.M. THUR., SAT. He stressed that updation is the need of hour, without being updated
competitors will keep you out from the market. In this competitive
INTERMEDIATE environment to be successful, its very essential.
GROUP I 3.00 P.M.- 132 4,500/- DAILY TWO Twenty First Academic Development Programme
7.00 P.M. LECTURES On 13.10.2007 at the 21st Academic Development Programme
organized by the Regional Council, A.K. Srivastava, Executive Officer,
GROUP II 3.00 P.M.- 115 4,000/- DAILY TWO NIRO suggested students to plan their schedule of ADP in such a
7.00 P.M. LECTURES manner so that by Completion of their Management Training, their
training requirement is also completed.
FOUN- 3.00 P.M. 150 4,000/- DAILY TWO S. Koley, Secretary, NIRC said that these Academic Development
DATION 7.00 P.M. LECTURES programs play an important role in grooming students. It helps them
in learning new and emerging concepts. Apart from these such
NOTE: programs also update their knowledge base.
l Each Lecture is of two hours duration. The ADP was conducted on FEMA Perspective Trade Related
l Admissions on first come first served basis. Issues. Atul Mittal, Regional Council Member, NIRC was the faculty
l Commencement of classes is subject to availability of on Trade Related Issues Export of Goods/ Services and General
sufficient number of students in each batch. Rules/Regulations including remittance inward/outward. Aditya Yadav,
l No eligibility tests are conducted in Refresher classes. Associate, Pricewaterhouse Coopers and Manisha Narang, Manager
Therefore, no coaching completion certificate will be Transaction Advisory Services, Perfect Accounting and Shared
issued on the basis of these classes. Services Pvt. Ltd., were the guest faculty on Investment Related Issues
Interested students may deposit the fee at NIRC of the ICSI, 4, FDI, ECBs and ODI.
Prasad Nagar Institutional Area, New Delhi-110005 on or before Thirty First Training Orientation Programme
9th January, 2008 in Cash/Demand Draft in favour of the NIRC On 8.10.2007 the 31st TOP conducted by the Regional Council
of ICSI payable at New Delhi. was inaugurated. Geetanjali S. Rathore apprised the students about
Credit Cards are also accepted. the various guidelines to be followed during the five days training
For further details contact the Education Officer, program.
NIRC OF THE ICSI. A.K. Srivastava, Executive Officer, NIRO said that the training
Phone Nos. 011-25769352, 25763090, 25767190, Tele fax: 011- Orientation Program has been recently added to the curriculum and it
25722662, Email: edoniro@icsi.edu, icsi@eth.net, really prepares the students for their fifteen months training. He said
niro@icsi.edu. that this program helps the students to know about the corporate culture
and their attitudinal adjustment for forthcoming Professional Career.
Inauguration of 110 th Secretarial Modular Training He also gave practical examples to students about ethics and corporate
Programme behavior.
On 15.10.2007 the 110th SMTP conducted by the Regional Council S. Koley, Secretary, NIRC initiated his address with the requirements
was inaugurated. Chief Guest Virender Ganda, Past President, the of Training. He said that this fifteen months training program is a great
ICSI emphasized that karma plays a very vital role in social as well as learning experience for the students. He emphasized on setting
professional lives. He shared his experiences as professional. He Objectives and said that without proper goal and objective one cant
suggested the participants before giving advice to the clients think grow. He said that the students who do not have learning attitude tend
100 times and acquire excellence in that area then reply. There is no to get culture shock when they join the corporate world. He advised
universal formula for the interaction with others. It plays a very vital the students to take full advantage of these five days, as it will help
role in the professional career. He mentioned that failures in life dont them in encountering the challenges.
come to destroy but help to realize the ability. Yesterday represents At the Valedictory Session held on 12.10.07 A.K. Srivastava said
experience, Future represents the hope and for action only today is that thetraining orientation program has been kept exclusively to give
available. He suggested that world is a playground and we all are the practical inputs to the students before they start their fifteen months
players, there may be winning situation or losing situation, dont leave training. He said that the students should always have grasping attitude.
the ground, keep playing success will definitely follow. At the end, he They should try to inculcate good learning practices to grow in future.
expressed his gratitude to NIRC for inviting him as Chief Guest on the
occasion and offered his best wishes to the participants. S. Koley mentioned about the five days of training Orientation

Student Company Secretary 23 November 2007

 News and Announcements
Program that helps in nurturing the students. He also threw light on
Annual General Meetings and said how important they are for a
Company Secretary. He also focused on equity and preference shares.
He said that the emotions also play an important role. One should
also learn to respect human beings.
Valedictory Session of 108th SMTP
On 6.9.2007 the Valedictory session of 108th SMTP was held.
Chief Guest on the occasion was Dr. Navrang Saini, Joint Director
(MCA 21), Ministry of Corporate Affairs, Govt. of India.
S.Kumar, Sr. Driector (Training, Membership & Legal) said that the
responsibility of the professionals has increased due to globalisation.
He informed the students about the new emerging concept of LLP
and stressed that the students must update themselves with Journals,
newspapers etc. He said that apart from updating knowledge, good
communication skills and presentation skills, the positive mindset also
plays a vital role in grooming ones personality. He said that Company
Secretary is a compliance officer of the company and he should know
how to balance the legal compliances. He said that the students have
completed their CS and would be part of CS Fraternity soon hence he
requested them to help the institute in revising syllabus, updating
modules, Organizing programmes, writing papers for national
convention etc. At the end he gave his best wishes to all the students.
Ashu Gupta, Chairperson, SMTP Committee spoke about the
challenges ahead for CS Fraternity. She also talked about E-
Governance and mentioned about MCA project. She also requested
students to regularly attend seminars so that they can update
themselves on continuous basis.
Chief Guest Dr. Navrang Saini, affably thanked all present for inviting
him for the occasion. He commenced his valuable speech by
highlighting two major issues. One is project MCA 21 and other is role
of CS in relation to it. He apprised the students with the Ministry of
Corporate Affairs and said that the Ministry has changed the name to
Corporate Affairs, as it was Company Affairs earlier. He told the students
about project MCA21. He also mentioned that whenever a new system
is launched it has certain lacunae but MCA 21 is getting very good
feedback. He also informed that all other Ministries are learning lesson
from MCA21 project and going for E-Governance. He gave certain
guidelines to the members and requested them to take utmost care
while uploading any information. He wanted all the members to have
expertise with the secretarial standards before doing anything. Lastly
he congratulated everyone on successfully completing the SMTP and
gave best wishes for bright professional career of the students.
109th SMTP
On 18.9.2007 the 109th SMTP conducted by the Regional Council
was inaugurated.
Chief-Guest: Vikas Saxena, Head-Legal & Company Secretary,
India Bulls Securities Ltd. in his inaugural address shared his valuable
practical experiences. He initiated his speech by the encouraging words
to the students do not limit your potential. He added that if you have
any idea, it should be executed otherwise it is worth nothing. He said
that the answer to the question that how execution can be done lies in
a person himself/herself. He stressed that if you are doing something
it should be done properly. He advised the students not to restrict
themselves to the sections of the Companies Act only, rather they
should broaden their horizon. He emphasized that if something has
been given to you, do it promptly. He also gave examples of successful
businessmen who have excelled in their respective areas and emerged
as role model for others. He also offered his best wishes to budding
professionals for their future professional career.
The proceedings of the SMTP programme was initiated by Ashu
Gupta, Chairperson, SMTP Committee of NIRC.
Hitender Mehta, Vice-Chairman, NIRC, while addressing on the
occasion said that the real meaning of SMTP is Smart Methods to
Train Professionals. He also threw light on the batch hood concept.
He said that the students should be connected to each other in future
Student Company Secretary
also through various groups and communities like yahoo etc. This will
work as knowledge resource for the group members and has been
proved very beneficial for future references. He said that the students
should broaden their Horizon to excel in their profession.
S. Kumar, Sr. Director (Training, Membership & Legal) while
addressing the students on the occasion said that the ICSI never
compromises in terms of discipline. No exemption has been given so
far to anyone on any ground with regard to SMTP. He said that the
students would be handling AGMs and other crucial professional
assignments once they finish the SMTP hence they should take full
advantage of SMTP. He emphasized that SMTP is the platform where
students can clear their doubts by interacting with the eminent Faculty.
He suggested that students should focus on overall development
like their communication skills, personality Development, etc.
On 4.10.2007 at the Valedictory Session of the 109th SMTP Chief
Guest Paul Joseph, Principal Advisor, Planning Commission, Govt. of
India while speaking on the occasion mentioned about his long
association with the institute. He briefly mentioned about the stock-
exchanges and their management. He said that SMTP is detailed
Academic orientation Program and students should also focus on
personality development apart from other requirements. He said that
the rapid economic growth and liberalization have changed the role of
a Company Secretary. He added that as MNCs are venturing in India,
a CS should not only restrict himself/herself to India rather he should
know about the various legislations across the world. He briefly gave
the outline of the eleventh plan. He said that the draft has been prepared
and GDP growth is expected to rise to 10% during the same. He also
highlighted that this plan mainly focuses on sustainable growth.
Nesar Ahmed, Central Council Member, the ICSI while speaking
on the occasion said that SMTP is the best learning platform to acquire
knowledge. He wished his best wishes to all the students.
Earlier S. Kumar, Sr. Director (Training, Membership & Legal) of
the ICSI while delivering his address said that the students should be
ready for the various responsibilities and the challenges in coming
future. He briefed the students about the precautions to be taken care
of while handling various activities related to the profession. He broadly
emphasized on professional misconduct and the ramifications thereof.
He said that if a Company Secretary in Practice accepts an assignment
previously handled by some other Company Secretary then intimation
has to be given to the person handling it before.
Hitender Mehta, Vice Chairman, NIRC said that during SMTP, a
bond is created between the students which is ever lasting. He also
said that students should groom themselves in a manner so that they
can take full advantage of all the emerging opportunities.
Nesar Ahmad, Central Council Member, the ICSI in his address
said that the SMTP is best learning platform to acquire knowledge .
He wished the students present all the best in their future endeavour.
Thirtieth Training Orientation Programme
On 10.9.2007 the 30th TOP was organized by the Regional Council
of the ICSI.
A.K. Srivastava EO(N) in his welcome address explained Training
Orientation Programme, its background, importance and significance.
S. Koley, Secretary, NIRC congratulated the participants for reaching
up to this stage. While addressing the participants on the occasion,
he informed them about the training requirements of the curriculum.
He suggested the participants to take initiatives during their training
period. He gave some tips for learning during training period. At the
end, he offered his best wishes to the participants.
On 14.9.2007 at the valedictory session Alka Arora, Education
Officer, NIRO initiated the proceedings of the program.
S. Koley, called for suggestions and feedbacks from the participants
and gave assurance for implementation of the same.
Sanjay Mishra, Faculty Member, was also present on the occasion
who shared with the participants that when he was doing CS there
was no TOP. He also offered his best wishes to the participants.
24 November 2007
 News and Announcements
A. K. Srivastava suggested the participants that taking initiative is
necessary for learning. Devotion of time, efforts is essential. Its like
self service, one has to grab the opportunity for learning, nobody in
the office is sitting idle to teach you. At the end, he also offered his
best wishes to the participants.
Twentieth Academic Development Programme
On 15.9.2007 NIRC of ICSI organized 20th Academic Development
Program for the students on the subject Stress ManagementEmotional
Intelligence & Attitude Reengineering and Time Management.
R.K. Manocha, Joint Secretary, Ministry of Railways, Government
of India was the faculty on the topic Stress Management and Vinay
Sharma, Corporate Consultant, was the faculty on Time Management.
Alka Arora, Education Officer, NIRO initiated the proceedings of
the program at the Valedictory Session. She congratulated the
participants for their successful completion of the program.
S. Koley, Secretary, NIRC was present on the occasion. He called
for the suggestions and feedback from the participants. He also gave
practical tips to the participants.
Satwinder Singh, Chairman, NIRC mentioned that to be successful
soft skills are essential. Packaging plays a very important role in the
success of any person. He also stressed on the attitude re-engineering.
He mentioned that the aim of the Institute is that its students and
members always grow high in life. At the end he offered his best
wishes to the participants.
Career Awareness Programmes
The Regional Council organized a number of Career Awareness
Programmes as per details given below :
On 31.8.2007 a Career Awareness Programme was held at Bhai
Joga Singh Sr. Sec. School, East Patel Nagar, New Delhi; on 1.9.2007
at Govt. Sr. Secondary School, East of Kailash, New Delhi; on 3.9.2007
at Gurunanak Public School, West Avenue Road and Andhra Education
Society Sr. Sec. School, Prasad Nagar, New Delhi; on 7.9.2007 at
Sarvodya Kanya Vidyalaya No.2, East of Kailash, New Delhi; on
9.9.2007 at Bharti Mahila College, Jankpuri, New Delhi; on 11.9.2007
at S.D. Public School, East Patel Nagar and at Cambridge Foundation,
Rajouri Garden Extn. New Delhi; on 13.9.2007 at Ramjas School, R.K.
Puram, New Delhi; on 19.9.2007 at J.D. Tytler School, New Rajinder
Nagar, New Delhi and Ramjas Girls School, Daryaganj Delhi; on
21.9.2007 at Convent of Gagan Bharti, Mohan Garden, New Delhi; on
25.9.2007 at St. Giri International School, Nr. Patel Nagar, New Delhi;
on 26.9.2007 at S.D. Girls Sr. Secondary School, East Patel Nagar,
New Delhi; on 27.9.2007 at V. Savarkar Govt. Sarvodaya Kanya
Vidyalaya No.1, Kalkaji and on 28.9.2007 a Career Fair was held at
Govt. Boys Sr. Sec. School. No.2, Narela, Delhi.
The programmes were addressed by one or the other of the
following jointly and severally. Shagun Madan, FCS, Sudhir Jain,
FCS, J.K. Bareja, FCS, Swati Patil, ACS, Richa Kalra, ACS, Pradeep
Debnath, ACS, Sailesh Jain, ACS, Visahal Arora, ACS, A.K. Srivastava,
Executive Officer, Alka Arora, Education Officer, Geetanjali Singh
Rathore, DO, NIRO, and K.K. Narula, AO(NIRO). During the career
awareness programmes in the above institutions the students were
apprised about the mode of registration in the course, syllabus,
structure of the course and also the avenues available after completion
of the Company Secretaryship Course both in employment as well as
in practice. Pamphlets explaining career in Company Secretaryship
Course were distributed to the students.
CHANDIGARH CHAPTER
Oral Coaching Classes for June, 2008 Examination
W.e.f. 16.1.2008 The Chapter proposes to conduct Oral Coaching
Classes for June, 2008 Examination for Intermediate and Final
Courses of the Institute from 5.30 P.M. to 7.30 P.M. Fee : Rs.
5000/- (per group of Intermediate or Final). The classes will be
held subject to enrolment of sufficient number of students.
For further details, contact the Chandigarh Chapter Office at
GGDSD College, Sector 32-C, Chandigarh, between 11.00 A.M.
to 7.00 P.M. on all working days.
Student Company Secretary
Sixth Training Orientation Programme
From 1.10.2007 to 5.10.2007 the Chapter organized its Sixth
Training Orientation Programme. The valedictory session of the Training
Orientation Programme was held on 5.10.2007.
Dr. N.K. Sahni, Coordinator of the programme submitted the
complete programme details covering the various topics by the Faculty
Members. During the sessions of the programme some of the
participants expressed their views, experience and benefits of the
Training Orientation Programme.
Atul V. Sood, Member, NIRC informed the participants the role of
the company secretary and about the various training programmes &
professional development programmes being organized by the Institute
of Company Secretaries of India. He stressed on the importance of
the updation of the knowledge and professional skills.
Punit K. Abrol congratulated the participants for their completion of
Training Orientation Programme. He called for the suggestions and
feedback from the participants of TOP. Punit K. Abrol and Vishal Arora
distributed the Course Completion Certificates to the successful
candidates.
JAIPUR CHAPTER
Participation in National Education Conclave 2007
On 10 and 11.10.2007 the Chapter participated in the National
Education Conclave-2007 organized by Eduexcel, Noida at India
International School, Mansarovar, Jaipur. In the conclave leading
schools of Jaipur participated in good number and the Chapter rendered
guidance, clarification and assistance to visitors to the ICSI stall.
On 11.10.2007 a talk on career in Company Secretaryship was
specially organized. During the talk a presentation was made under
the head ICSI Corporate Film by G.C. Sharma, Executive Officer of
the Chapter Office . Students asked a number of queries, about the
Company Secretaryship course i.e. How to pursue the course, duration
of the course, expenditure to be incurred for the course, placement
and prospects of Company Secretary, etc.
JALANDHAR SATELLITE CHAPTER
Training Orientation Programme (TOP)
From 8.10.2007 to 12.10.2007 the Jalandhar Satellite Chapter of
NIRC of the ICSI organized Training Orientation Programme (TOP) at
Co-Operative Training Hall of Agricultural Co-Operative Staff Training
Institute. Twenty Six students participated in the same besides
members and guests. In the first day I.K. Sardana, the Managing
Director of Sukhiji Starch and Chemicals Ltd. was the Chief Guest.
Satwinder Singh, Chairman, NIRC presided over the programme.
Dinesh Gupta, Programme Director enlightened the members on the
importance of Training Orientation Programme. Satwinder Singh
enlightened the delegates on the role and responsibilities of Directors
by giving a detailed presentation. Suneel Keswarni, Management
Trainer enlightened the students on the importance of Emotional
Intelligence for Corporate Excellence. I.K. Sardana appreciated the
role of company secretaries for better corporate governance in
corporate sector and Government Undertakings.
On 9.10.2007 Prof. V.K. Sareen, Sr. lecturer in DAV College organized
a Quiz on Company Law. All the students participated in the quiz. P.S.
Dua, Practising Company Secretary at Ludhiana gave a detailed
presentation on individual Credit Rating. In the Post Lunch Session,
Rajiv Goel, Advocate, ignited the keen minds of students by highlighting
the need of Team Building, Leadership, Public speaking and presentation
skills. He also rehearsed the delegates for public speaking.
On the next Day, Brijesh Mathur, Practising Company Secretary in
Delhi shared his views on the practicalities involved in Intellectual
Property Rights with special reference to Trade Marks. In the Post
Tea Session K.S. Pathania, Commissioner of Income Tax and J.R.
Sharma, Income Tax Officer presided over the programme. All the
delegates gave presentations on various topics allotted by the
programme Director. Dinesh Gupta and Prof. Vijay Gupta, Sr. Lecturer
25 November 2007
 News and Announcements
in DAV College, Dr.Ravi Inder Singh, Sr. lecturer in Agricultural Co-
operative Staff Training Institute and Parminder Singh Rally, Vice
Chairman, Jalandhar Satellite Chapter evaluated the presentations.
The whole of 10.10.2007 was dedicated to the Educational Trip.
The students first visited the Capital Local Area Bank to learn the
practical aspects of Banking and Foreign Exchange and thereafter
went to Science City.
On the last day, Aman Setia, Chairman Jalandhar Satellite Chapter
introduced the students with the practicalities of Capital Market. India-
A Case of Mismanaged HR package was described by Dr. Vikram
Singh Virk,Sr. Lecturer in Govt. College Kapurthala. At the Valedictory
Session, Manmohan Juneja, Registrar of Companies, Punjab, HP. &
Chandigarh was the Guest of Honour. He gave a brief description of
the general working of the Ministry and their expectation from the
professionals. All the winners in Quiz and Presentations were awarded
Mementoes. Dinesh Gupta, Programme Director and Mammohan
Juneja (ROC) distributed the Certificates of TOP to the Delegates.
On 13.10.2007 a Workshop was organized on Personality
Development Successful Career at Training Hall of the Capital Local
Area Bank, which was attended by members, students, 26 delegates
of Academic Development Programme and guests. S. Samra,
Managing Director, Capital Local Area Bank was the Chief Guest. G.
Gehani, Director and Company Secretary, PSL Holdings Limited and
Past Council Member, the ICSI devoted his talk on How to Improve
Personality, Mannerism, Attitude and Happiness. At the end Dinesh
Gupta, Programme Director and G. Gehani distributed the Certificates
of ADP to the Delegates.
LUCKNOW CHAPTER
National Education Conclave 2007
On 14 & 15.9.2007 the Chapter participated in National Education
Conclave 2007 at C.M.S. Auditorium,Kanpur Road,Lucknow. D.N.
Mishra, Chairman, M.K. Bhagat, Vice Chairman & Amit Gupta, Member
attended the programme with Chapter staff S. Negi and Shiv Moorti
Tiwari. Thousand of students and teachers from various schools &
colleges were present at the auditorium. The Committee Members
present addressed the participants and convinced them to pursue the
company secretaryship course.
D.N. Mishra explained about the course offered by the Institute,
like portfolio & career prospects of company secretary, registration
and examination procedure.
Amit Gupta explained the course by showing them a self prepared
projection. He said that the course is challenging and after completing
it, there are lot of job opportunities in the field. Brochures & pamphlets
briefing about the course were distributed to all the participants by
Shiv Moorti Tiwari (In charge Student Services).
SOUTHERN INDIA REGIONAL COUNCIL
BANGALORE CHAPTER
ORAL COACHING CLASSES
W.e.f. 7.1.2008 the Chapter proposes to commence its next
batch of Oral Coaching Classes for Foundation, Intermediate
and Final Courses as per the schedule given hereunder :
Name of the Venue Timings
Course
Foundation Chapter Premises 6.30 A.M to
8.30 A.M
Intermediate
Group I & II 6.30 A.M. to
(Morning) St. Joseph Composite PU 8.30 A.M
College, No.2, Grant Road,
Bangalore 560001 (Nr. Vittal
Group II Malya Hospital) 6.00 P.M. to
(Evening) 8.00 P.M.
Group I Chapter Premises 6.00 P.M. to
Evening 8.00 P.M.
Student Company Secretary
Final All St. Joseph Composite PU College, 6.30 A.M. to
Three Groups No.2, Grant Road, Bangalore- 8.30 A.M.
560001 (Near Vittal Malya Hospital) 6.00 P.M. to
8.30 A.M.
The Classes for Final Course would commence subject to
the enrolment of sufficient number of students.
For further details contact the Chapter Office at the following
Tel.Nos. 080-22261861; 080-22286574 and 080-22287158.
Inauguration of Eighth Training Orientation Programme
(TOP)
On 3.9.2007 the 8th Training Orientation Programme conducted
by the Bangalore Chapter of the ICSI was inaugurated. Chief Guest
Santosh Ghate, Assistant Vice President Communications & HR,
Swiss Re Shared Services (India) Pvt. Ltd., Bangalore in his address
expounded on the expectations the industry has from professionals.
He also explained the concept of employable resource and that it
entailed a cycle of knowledge acquisition, skill application, managing
the skill & knowledge and performance, apart from interpersonal skills,
which every company looked at in candidates they choose to hire and
that they hire for the right attitude and train for skills. The TOP was
attended by 40 participants.
On 7.9.2007 at the valedictory session of the TOP held at Chapter
premises, J. Sundharesan,(Past Chairman, Bangalore Chapter of the
ICSI) Company Secretary, J. Sundharesan & Associates, Company
Secretaries, Bangalore, was the Chief Guest.
Sundharesan in his address shared some tips for being the best
professionals as: Networking, attending ADPs/PDPs, being proactive,
building your brand, hard work, and acquiring additional qualifications.
Madhwesh and Lakshmi Ratnam, participants, shared their
feedback about the programme.
Sundharesan then distributed the TOP Certificates to the
participants.
32nd Secretarial Modular Training Programme
On 10.9.2007 the Chapter organised the Inaugural Function of
the 32nd Secretarial Modular Training Programme. Sandeep Farias,
Chief Innovation Officer & India Country Director, Unitus-Innovative
Solutions to Global Poverty, Bangalore was the Chief Guest who
inaugurated the programme.
Sandeep Farias in his address shared with the participants the
necessary characteristics and skills for every successful professional.
He also emphasized on the importance of integrity, and social
responsibility for every individual
On 27.9.2007 at the valedictory session held at the Chapter
premises V.C. Davey, (Co-opted Member, Managing Committee of
the Bangalore Chapter of the ICSI), Registrar of Companies, Karnataka,
Bangalore was the Chief Guest who commenced his address by
congratulating the participants for completing the CS Course. He
explained them the changes in the functioning of the MCA right
from the introduction of MCA 21, the increased scope for Company
Secretaries for certifications and other areas, the demand for more
qualified Company Secretaries and that when NCLT is established
the scope for Company Secretaries is bound to increase. He cautioned
that as the scope increases so does the responsibilities and that each
of them should certify documents only after verifying all data. He also
impressed upon the participants the importance of regularly updating
their knowledge.
Srinivasan and Smitha S participants, shared their feedback about
the programme.
Davey then distributed the Best Participant Certificate Award to
Smitha S, and prizes for the Best Project to the team of Aarthi
Rajendran, Lakshmisha Babu S, Urvashi Pradhan and J. Nithya, for
their project on Board Meetings through Video Conferencing. He also
distributed the Course Completion Certificates to the participants.
26 November 2007
 News and Announcements
HYDERABAD CHAPTER
Career Awareness Programmes
The Chapter organized a number of Career Awareness
Programmes as per the details given hereunder:
On 24.8.07 the Career Awareness Programmes were held at Swathi
Degree College, Hyderabad; on 25.8.2007 at Geetham Degree College,
Ongole; on 28.8.07 at Modern Degree College, Chilakalurpet ; on
1.9.2007 at Vivekavardhini, SC Woemns Degree College and
Singareni Colliers Womens Jr. College all at Othagudem; on 7.9.07
at Vijayawada Nalanda Jr. College & Sai Sudhir Degree & PG College,
Hyderabad; on 14.9.2007 at St. Anns Degree College for B.Com I
Year and St. Anns Jr. College for Girls for II Year Students And St.
Anns Degree College for B.Com II & III year students ; on 19.9.2007
at Holy Cross Degree College for II year students, Holy Cross Degree
College for B.Com III year students at Suman Jr. College for Girls for
II year Students and Suman Jr. College for Girls, Hyderabad for I & II
year students; on 20.9.07 at Govt. Jr. College, Hyderabad for CEC,
HEC & MPC students at Holy Cross Degree College for B.Com I & II
year students; on 21.9.2007 at Sathavahana College, Vijayawada for
B.Com Final year students ; on 22.9.07 at Sathavahana College
Vijayawada for B.Com I Year, students ; on 28.9.07 at Govt. Jr. College,
Hyderabad for CEC, MEC I year, II year and MPC, BIPC students.
The programmes were addressed by one or the other of the following
jointly and severally. S.S. Marthi, Chairman of the Chapter, Rajnish C.
Popat, Chairman, Oral Coaching & Students Facilities Committee and
R.Chandra Sekhar, Executive Officer, Hyderabad Chapter. Nearly 4000
students in all attended these programmes.
Valedictory Session of Secretarial Modular Training
Programme
On 4.10.2007 the valedictory session of 32nd SMTP was held.
M.R. Bhat, Official Liquidator, Ministry of Corporate Affairs was the
Chief Guest who in his address congratulated the participants for
successfully completing the SMTP and advised them to acquire
knowledge in a structured and continued manner. He stressed on
dedication, determination, and that every person should spare some
time towards social activities. M.R. Bhat shared his experience to the
participants. Participants also spoke and greatly appreciated the
programme and the capabilities of the Chapter.
The Chief Guest M.R. Bhat, S.S.Marthi, Chairman of the Chapter,
Datla Hanumanta Raju, Council Member, The ICSI and C.Sudhir Babu,
Council Member, The ICSI presented participation certificates to the
participants and other prize awards to the following :
v Best Participant Award to Puna Kumar Singh
v Best Speaker Award to M Madhavi
v Better Speaker award to Raj Kumar Jha
v Good Speaker Award to Komal D Shah
v Best Project Presentation award for the topic Joint Ventures
& Foreign Collaborations to the team comprising M.Madhavi
G; Komal D and K.Venkata Lakshmi.
Inauguration Of 61st Batch Of Oral Coaching Classes
On 22.10.2007 the ICSI-Hyderabad Chapter commenced the 61st
Batch of Oral Coaching Classes at its premises. S.S.Marthi, Chapter
Chairman inaugurated the classes. He informed the students about
the role of the Institute, importance of Company Secretaryship course
and role of Company Secretary and opportunities available for the
qualified. He advised the students to take up the course sincerely and
to give focused attention to their studies. Rajnish C Popat, Chairman
- Oral Coaching & Students Facilities Committee informed the students
about the rules and regulations of the Oral Coaching, eligibility criteria
for issue of coaching completion certificate, Library Facilities etc.
MYSORE CHAPTER
Career Awareness Programmes
On 01.10.2007 the Career Awareness Programme conducted by
the Chapter was held at Govt. I Grade Ladies College, H.N. Pura;
Student Company Secretary
Govt. I Grade College, H.N. Pura for I Year, II Year and III Year students.
On 3.10.2007 the Career Awareness Programmes were held thrice at
JSS College, Nanjangud. Around 400 students in all attended the
Career Awareness Programmes. The speaker of the Career Awareness
Programmes were one or the other of the following.CS Anshuman
A.S., Chakri Hegde, Abhishek and Veena B.
Commencement of Oral Coaching Classes
On 11.10.2007 the 144th session of Oral Coaching Classes of the
Chapter commenced to prepare Intermediate Group I students for the
June 2008 examination. A good number of students attended the
classes.
Broadcast in AIR Interview with Successful Students
A program titled An Interview of Successful Students of the ICSI
was broadcast by the All India Radio in the Yuvavani program in FM
100.60 at 8 PM on 30.10.2007. The students interviewed were Rakesh
S. and Pracheta M. who won the National Level Moot Court Competition
in Bangalore.
Study Circle Meetings
The chapter conducted the following 6 study circle meetings for
the benefit of the students during the month of October
On 07.10.2007 the Study Circle Meeting was held on Economics
and Labour Laws MRTP which was addressed by Smitha S; on
14.10.2007 on Clarifications on Company Law and Taxation addressed
by CS. Dattatri H.M.; on 21.10.2007 on Clarifications on Ist Group
Intermediate and Interpretation of Statutes, Advanced CL addressed
by CS. Anshuman A.S.; on 28.10.2007 Clarifications on Ist Group
Intermediate addressed by CS. Anshuman A.S. and again on the
same day another study circle meeting was held on Clarifications On
WTO, Advanced CL addressed by Pracheta M.
Talk on All India Radio About the CS Course
On 3.9.2007 a Career Guidance Talk was organized by the Mysore
Chapter on All India Radio, Mysore. The program was aired in prime
time by AIR in its Yuvavani program. Surendranath Satvik of AIR
interviewed , CS. Dattatri H.M. Secretary of the Chapter. In the half
an hour broadcast, CS. Dattatri lucidly explained the role and
importance of Company Secretaries, the course curriculum, the
employment prospects, the facilities available in Mysore Chapter and
other details. The program generated good number of enquiries. The
Program was very much comprehensive and informative and all most
all areas, scope and career opportunities relating to the CS course
was covered in half an hour interactive session. The interaction and
information was so informative and convincing that even the Senior
Students of the Course felt that they were getting details of a new and
different course all together.
Broadcast of CS Course Details
An innovative program to popularize the CS Course and the
Profession through All India Radio was undertaken by the Chapter
during the month. A series of 5 minute capsules were recorded in local
language giving details of the course and the profession by CS. Dattatri
H.M. for broadcasting in the NAVILUGARI program of All India Radio
(FM 100.60). NAVILUGARI program is the most popular program of
the channel.
The capsules were broadcast every day at around 8.50 AM. from
17.9.2007 to 21.9.2007. Each episode ended with a simple question
about the profession or the course. Listeners were given a different
phone number every day to inform the right answer of the question.
The names of the persons answering the question correctly were
announced in the program the next day. This method generated wide
interest in the program. It gave an opportunity to the callers to get their
doubts clarified. The callers were provided suitable career guidance.
The phone numbers of the following counsellors were broadcast
on the day mentioned against their name :
On 17.09.2007- 9886580876 Kiran T. The query asked was Is the
company secretary same as a personal secretary ?
27 November 2007
 News and Announcements
On 18.09.2007 - 9886395144 CS. Srilatha the query was How
many companies need CS ? How many are there ?
On 19.09.2007-9844422302 Sunil Kumar B.G. the query was Is
PUC enough for the course ? Is there a minimum %age?
On 20.09.2007-9886580876 Kiran T. the query was How much
does the course cost ? and on 21.09.2007-9449621724 CS.
Anshuman A.S.-
The program generated numerous queries and resulted in quite a
few registrations.
Students Interview by TV Channel
On 16.9.2007 an interview of Pracheta, Rashmi, Kamal and Rakesh
compered by CS. Dattatri was telecast by UMN channel. The program
highlighted the achievement of these students in the national level
competitions in the recent past. The occasion was used by the Chapter
not only to motivate the existing students to compete in such Chapter
activities but also to popularize the course amongst the youth.
Extensive Career Counselling Programmes
The Chapter conducted 55 career counseling sessions in 24
institutions during the month of September 2007 covering 4650
students. The chapter started the counseling in Mysore colleges and
moved out to nearby towns and cities like Gundlepet, Chamarajnagar,
Hassan, Mandya, T. Narasipura, Kollegal, Madikeri, Hunsur, K.R.
Nagar, Gonikoppal and Virajpet covering the districts of Mysore,
Chamarajnagar, Hassan, Coorg and Mandya. The counselling was
followed by one or more visits to the institutions by representatives of
the Chapter for post counselling follow up and registrations. Many
members and students participated in the counselling programs.
Study Circle Meetings
The study circle meetings of the students held at the Chapter during
the month of September. The following sessions were handled :
On 02.09.2007 the study circle meeting discussed Company
Accounts Underwriting Commission. On 9.09.2007
Accounting for Amalgamation and Reconstruction,and Company Law.
On 16.09.2007 Consolidation of Accounts and Company Law were
discussed. On 23.09.2007 Company Law Prospectus was discussed
and on 30.9.2007 Company Law Drafting Resolutions and Corporate
Taxation were discussed.
Find the Photo Contest
An innovative FIND THE PHOTO contest was held by the Chapter
to generate student interest in Chapter activities. Old Photographs of
students were circulated amongst the members and students asking
them to identify the photograph. The first to answer the query would
be awarded a prize. The contest has generated considerable interest
amongst the students and members.
THIRUVANANTHAPURAM CHAPTER
Inauguration of 40th Batch of Oral Coaching Classes
On 05.09.2007, the 40 th batch of oral coaching classes for
Intermediate Course was inaugurated by CS.G.Raman Pillai, former
Chairman at ICSI-SIRC. In his address he explained the role of
Company Secretary in the present economic condition. CS. Baiju
Ramachandran in his welcome address explained the potential areas
of Company Secretaries in employment as well as practice. CS.Bijoy
P. Pulipra explained the library facilities of the Chapter. About 20
persons attended the programme.
Career Awareness Programme
On 12.09.2007, a career awareness programme was organized at
Rotary club of Trivandrum. CS.Baiju Ramachandran addressed the
members of the club and explained the role and importance of company
secretaryship course in the changing economic scenario. He also
highlighted the opportunities available for those who completed the
Company Secretaryship course. More than 50 persons attended the
programme.
Student Company Secretary
Meeting on how to approach Company Secretaryship
Course
On 14.09.2007 The Chapter organized a meeting for the students
of the Chapter on how to approach Company Secretaryship. The
Secretary of the Chapter CS.Baiju Ramachandran was the speaker of
the programme. In his address, he motivated the students with 25
ways to approach professional courses like Company Secretaryship.
He also advised the students on the preparation for the examination
and also the future prospects once they qualify the CS course. About
30 students attended the programme.
Career Awareness Programme
On 28.09.2007, the chapter organized a career awareness
programme at Govt. Higher Secondary School for boys, Pettah,
Thiruvananthapuram. CS.Baju Ramachandran, Chapter Secretary
spoke on the occasion and outlined the details of the CS course,
institute, Chapter etc. Around 80 students attended the programme.
THRISSUR SATELLITE CHAPTER
National Seminar on Professionalism in Corporate
Governance
On 12.10.2007 with the joint participation of Thrissur Satellite
Chapter and Sree Kerala Varma College, a National Seminar regarding
Professionalism in Corproate Governance was conducted at the
college Auditorium successfully. About 175 persons participated from
7 colleges. The programme inter alia honoured 35 students for their
achievements in different exams of company secretary course.
WESTERN INDIA REGIONAL COUNCIL
Secretarial Modular Training Pogrammes:
WIRC organised its 72nd Secretarial Modular Training Programme
from 12.3.2007 to 27.3.2007 at ICSI-CCRT Navi Mumbai. 50 Students
attended the programme .
WIRC organised its 73rd Secretarial Modular Training Programme
from 23.4.2007 to 8.5.2007 at ICSI-CCRT, Navi Mumbai. 23 Students
successfully completed the programme. Eminent faculties delivered
lectures on Risk Management, Service Tax, IPR, Competition Act,
Appearance before CLB/NCLT, Commodity Exchange Market, Loan
Documentation Corporate Governance, LPO, Drafting and Commercial
Negotiations, Knowledge Management, Merger & Amalgamations,
Prevention of Insider Trading, IPO, Personality Development, LLP,
MCA-21, Preferential Issue, SEZ etc. Besides a Mock AGM, Board
Meeting and Moot Court were also arranged.
The Participants were divided into four groups and they made project
presentation on topics : IPO, Merger & Amalgametion & Takeover,
Preferential Issues and Corporate Governance. The presentation on
Corporate Governance was adjudged as the best project. Best
participants award was given to Sheetal Dhavan and the award for
the best presenter was bagged by Sheela J. Chhatwani.
The 74th Secretarial Modular Training Programme of WIRC was held
from 31.8.2007 to 16.9.2007 at ICSI-CCRT Navi Mumbai. In all 52 students
attended and completed the programme. The programme was inaugurated
by Vikas Khare, Chairman WIRC. Antony Paul, Joint Director, WIRC
explained the rules and modalities of the training programme.
Eminent/Senior faculty members from the profession - practice
and employment, and others addressed the participants on various
topics like Central Excise, Knowledge and Compliance Management,
Joint Ventures, FEMA, Interview techniques, External Commercial
borrowings, IPO, E-filing, Competition Act, Practice before consumer
court, Secretarial Audit, Mutual Fund, Information Technology Law,
Independent Director, Commodity Exchange etc. A session on Mock
Board Meeting and Moot Court were also organised. The participants
were also taken to Bombay Stock Exchange. The Valedictory session
was chaired by Vikas Khare, Chairman WIRC. In the programme, six
groups were formed for project presentation on the topics 1) Corporate
Governance 2) Special Economic Zone 3) Securitisation of Assets 4)
Acquisition of Overseas Companies 5) Transfer Pricing 6) Corporate
28 November 2007
 News and Announcements
Funding. Vinay D Angane and Rachna Vora were selected as best participant was awarded to Abhishek Anand from Delhi. An appreciation
presenters. The judges selected the presentations on SEZ and address from the participants regarding programme, its contents, faculty
Securitisation as the best projects. The best participant award was and coordination ended the session.
given to Rachana Lodaya. Pramod S Shah, PCS & Former-Chairman, WIRC presided over
VADODARA CHAPTER the valedictory session.
Academic Development Programme THANE CHAPTER
On 18.9.2007 the Academic Development Programme conducted
by the Chapter was held at its premises. Minal Mehta gave an Oral Coaching Classes for Intermediate (Group I)
informative lecture on topics like physical share transfer and depository W.e.f. 7.1.2008 the Chapter proposes to conduct Intermediate
was discussed by Devesh Pathak, Communication Skills was (Gr.I) Oral Coaching Classes for June 2008 examinations.
discussed by Minal Mehta, filling and filing of forms under the For further details contact the ICSI Thane Chapter at 203,
Companies Act, 1956 was discussed by Ketki Shah. Mankame Building,2nd Floor, Opp. Saraswati Book Depot,
The Group Discussion was held on the topic Should the Dattamandir Road, Thane (W)-400601, Phone No. (022)
Appointment of Company Secretary be compulsory for every 25444479 or Asha Jaurkar Phone No. (022) 2544479. or R.T.
Company?. The topic was found very interesting by every student Raj Guroo Cell No. 98698 12904.
attending the programme. The topic Managerial skill was discussed
by Devesh Pathak and Hemang Mehta.
ICSI-CCRT
ATTENTION
Nineteenth Residential Secretarial Modular Training NIRC LIBRARY MEMBERS
Programme
From 22.9.2007 to 7.10.2007 the 19th Residential Secretarial
All NIRC library members who were having their valid
Modular Training Programme (SMTP) organized by the ICSI - CCRT membership during the period 01.04.2004 to 31.03.2005
was held at its premises. and have not renewed their Library Membership till date,
The revised SMTP module was implemented at this batch with the may either apply for renewal of Membership or request for
successful introduction of sessions on communication, team refund of security deposit. All such requests should reach
management, time management and business strategy. Faculties from
the Executive Officer (NIRC) on or before 15.03.2008. All
the Symbiosis Institute of Business Management who were invited to
take sessions on these topics, adeptly handled these sessions. deposits on account of Library Security will be forfeited and
Sessions on the practical aspects of MCA-21, listing, understanding no request for refund will be considered/entertained after
financial statements, appearance before CLB and dealing with various the stipulated date.
authorities were also taken by a group of specialized and expert
professionals, company secretaries in different core areas belonging
to Industry and Corporate sector, renowned consultancy firms.
Sessions on stock market analysis, search & seizure were also
organized in the pre-dinner talks.
The participants were also exposed to the practical and procedural
aspects of the working of the company secretary like Mock Annual
General Meeting (AGM & EGM) and convening and conducting of
Board Meetings with the help of an exercise to familiarize the
participants. During the programme a visit to the Bombay Stock
Exchange of India (BSE) was also arranged. A cultural night was also
arranged to develop the participants interpersonal relations, to create
social attachment and boost their morale.
Placement interviews were conducted by various companies
including Kotak Mutual Fund, Edelweiss Capital, Sakuma Exports,
Hiranandani Group etc.
On 06.10.2007 excellent presentations were made by the
participants on the six projects as under: Loans to Directors, Affixing
Common seal, Passing of resolution by circulation, Forfeiture of shares,
Corporate documentation, Issue of shares/debt certificates.
Uday Thakur Desai, former COO, DSP Merrill Lynch, Ramadevi
Iyer, Consultant and Smruti Jhaveri, VP-Compliance, Edelweiss
Capitals were the panelists to judge the presentations. Out of the above,
the project on Loans to Directors presented by Rajni Dubey, Hardik
Sanghvi, Reena Nathani, Parag Bhide, Aditya Singal, Praveen Jain,
Tejasvi Dixit and Pushkar Deshpande was adjudged as the best project.
Mansi Arora from Allahabad was adjudged as the best presenter.
R Balakrishnan, company Secretary & Legal Services Manager,
Foseco India Ltd and winner of the Runner-up Award for the Company
Secretary Award by ICSA, UK delivered the Valedictory address.
Addressing the participants, he stated that every professional should
strive to achieve excellence. He advised the participants to develop
their interpersonal skills which would aid them into improving
themselves. With the help of a presentation he dealt with the concept
of emotional intelligence and the manner for developing the same.
Later the course completion certificates were distributed by
Balakrishnan to all successful participants. The certificate for best
Student Company Secretary 29 November 2007
 ICSI NOTIFICATION NO : 1/2007
INTRODUCTION OF NEW SYLLABUS OF THE COMPANY
COMPANY
SECRET AR
SECRETAR YSHIP COURSE
ARYSHIP
The Council, in exercise of the powers vested under clause (a) of sub-
section (2) of section 15 of the Company Secretaries Act, 1980 [as
amended by the Company Secretaries (Amendment) Act, 2006],
approved the new Syllabus at its 174th meeting held on 18-19th August,
2007 and decided as under :
1. Nomenclature for the different stages of CS Course will be as
follows:
1. Foundation Programme in place of Foundation Course
2. Executive Programme in place of Intermediate Course
3. Professional Programme in place of Final Course
2. For the term Group, the term Module be used.
3. Scheme of papers at each stage will be as follows :
Foundation Programme
1. English and Business Communication
2. Economics and Statistics
3. Financial Accounting
4. Elements of Business Laws and Management
Executive Programme
Module I
1. General and Commercial Laws
2. Company Accounts, Cost and Management Accounting
3. Tax Laws
Module II
4. Company Law
5. Economic and Labour Laws
6. Securities Laws and Compliances
Professional Programme
Module I
1. Company Secretarial Practice
2. Drafting, Appearances and Pleadings
Module II
3. Financial, Treasury and Forex Management
4. Corporate Restructuring and Insolvency
Module III
5. Strategic Management, Alliances and International Trade
6. Advanced Tax Laws and Practice
Module IV
7. Due Diligence and Corporate Compliance Management
8. Governance, Business Ethics and Sustainability
4. The implementation of the new syllabus will be as
follows :
Foundation Programme Examination
( 1) The candidates enrolled on or after 1st November, 2007 for the
Foundation Programme and the candidates enrolled prior to 1st
November, 2007, who may so opt, shall be examined in the
Foundation Programme Examination to be held from and including
December, 2008 in the following papers, namely,
(a) English and Business Communication;
(b) Economics and Statistics;
(c) Financial Accounting; and
Student Company Secretary
(d) Elements of Business Laws and Management
(2) The syllabus for the Foundation Programme Examination is
annexed (Annexure 1). The first Foundation Programme
Examination for the students mentioned at (1) above will be held
from and including December, 2008.
(3) Qualifying Marks : A candidate shall be declared to have passed
in the Foundation Programme examination if he obtains at one
sitting a minimum of forty per cent marks in each paper and fifty
per cent marks in the aggregate of all papers put together :
Provided that a candidate who has appeared in all the papers for
which he/she was enrolled and has obtained sixty per cent marks
or above in any paper(s), but failed in aggregate, shall be declared
to have passed in the subsequent examination, if he/she obtains
a minimum of forty per cent marks in each of the remaining
paper(s) and fifty per cent marks in the aggregate of the remaining
papers at one sitting within the next three following examinations.
(4) A candidate shall be exempted from appearing in the individual
papers on the basis of exemption from individual papers previously
secured by him under the syllabus specified in Part I of Schedule
CCB to the Company Secretaries Regulations, 1982 on his/her
switch over to the syllabus specified at (2) above.
Papers passed/exempted Exemption from Papers under
under the syllabus specified the syllabus specified in Annexure
in Part I of Schedule CCB of I for Foundation Programme
Company Secretaries effective from 1st November,
Regulations, 1982 2007
1. English & Business English & Business
Communication Communication
2. Basic Economics and Economics and Statistics
Business Environment
3. Financial Accounting Financial Accounting
4. Elements of Business Elements of Business Laws
Laws and Management and Management
5. Information Systems and Economics and Statistics
Quantitative Techniques
(5) The last Foundation Examination under the existing syllabus
specified in Part I of Schedule CCB shall be held in June 2009
and the syllabus specified in the said Part I of Schedule CCB
shall cease to operate after the said examination.
Executive Programme Examination
(6) The candidates registered effective on or after 1st February, 2008,
candidates registered prior to the 1st February, 2008, and who
may so opt, shall be examined in the Executive Programme
examination to be held from and including December 2008 in six
papers, comprised in two modules of three papers each as under:
Module I
1. General and Commercial Laws
2. Company Accounts, Cost and Management Accounting
3. Tax Laws
Module II
4. Company Law
5. Economic and Labour Laws
32 November 2007
 Introduction of New Syllabus of the Company Secretaryship Course
6. Securities Laws and Compliances on the basis of qualification or on the basis of having already passed
(7) The syllabus for the Executive Programme Examination is the paper).
annexed (Annexure II). The first Executive Programme Papers passed/exempted Exemption from Papers under
Examination for the students mentioned at (6) above will be held under the syllabus specified the syllabus specified in Annexure
from and including December, 2008. in Part II of Schedule CCB of II for Executive Programme
(8) Qualifying Marks : Company Secretaries effective from 1st February, 2008
Regulations, 1982
(a) For both Modules : A candidate shall be declared to have
passed in both modules of the Executive Programme examination: Group I Module I & II
(i) if taken simultaneously and if he/she secures at one sitting 1. General and Commercial General and Commercial Laws
a minimum of forty per cent marks in each of the papers in Laws
which he/she is required to appear and fifty per cent marks 2. Company Accounts and Company Accounts, Cost and
in the aggregate of all the papers put together ; or Cost & Management Management Accounting
(ii) If he/she has passed in any one group of Intermediate Accounting
examination held under the syllabus specified in Part II of 3. Tax Laws Tax Laws
Schedule CCB to the Company Secretaries Regulations, 4. Management NIL
1982, prior to the commencement of examination under the Information Systems &
syllabus specified in Annexure II and secured at one sitting a Corporate Communication
minimum of forty per cent marks in each of the remaining Group II
papers in which he/she is required to appear and fifty per
cent marks in the aggregate of all such remaining papers put 5. Company Law Company Law
together. 6. Company Secretarial Company Law
(b) For one module : A candidate shall be declared to have passed Practice
in a module if he/she secures at one sitting a minimum of forty 7. Economic, Labour and Economic and Labour Laws
per cent marks in each paper and fifty per cent marks in the Industrial Laws
aggregate of all the papers of that module [and shall be declared 8. Securities Laws and Securities Laws and
to have completed Executive Programme on passing both the Regulation of Compliances
modules]. Financial Markets
Provided that a candidate who has appeared in all the papers of Scheme of Exemptions on the basis of group(s)
a module, for which he/she was required to enroll and has passed under the Syllabus specified in
secured sixty per cent or more marks in any paper(s) and a Part II of Schedule CCB
minimum of twenty five per cent marks in each of the remaining Intermediate Course Executive Programme
paper(s) of the module but has failed in the module, shall be
Group I (Four papers) Module I (Three papers)
exempted from that or those papers in which he/she secured
sixty per cent or more marks, in any subsequent examination 1. General and Commercial General and Commercial Laws
on submission of an application in this behalf on or before the Laws
last date of enrolment for the examination in which he/she intends 2. Company Accounts and Company Accounts, Cost and
to appear ; Cost & Management Management Accounting
Provided further that if a candidate who has appeared in all Accounting
the papers of the module for which he/she was enrolled without 3. Tax Laws Tax Laws
obtaining any exemption and has failed in one paper comprised 4. Management
in the module, but got a minimum of sixty per cent of the total Information Systems &
marks of the remaining papers of the module shall be declared Corporate Communication
to have passed in that module if he/she reappears in the Group II ( Four papers ) Module II (Three papers)
remaining paper in which he/she had failed and secures fifty 5. Company Law Company Law
per cent marks in any subsequent examination. 6. Company Secretarial
Explanation : For the purpose of the first and second proviso, the Practice
marks obtained by a candidate in the paper(s) in which he/she
7. Economic, Labour and Economic and Labour Laws
had obtained exemption on the basis of having secured sixty per
Industrial Laws
cent or more marks shall not be taken into account for computing
his/her result of the remaining papers of the module in any 8. Securities Laws and Securities Laws and
subsequent examination. Regulation of Financial Compliances
Markets
Distinction : A candidate shall be declared to have passed with
distinction in the Executive Programme Examination if he/she (10) The last Intermediate examination under the existing syllabus
obtains at one sitting a minimum of fifty per cent marks in each specified in Part II of Schedule CCB shall be held in December,
paper and seventy per cent marks or above in the aggregate in 2009 and the syllabus specified in the said Part II of Schedule
both the modules, without obtaining any exemption. CCB shall cease to operate after the said examination.
(9) A candidate shall be exempted from appearing in the individual Professional Programme Examination
paper(s)/module(s) on the basis of exemption from individual (11) The candidates whose registration shall be effective on or after
paper(s)/group(s) previously secured by him/her under the syllabus the 1st February, 2008, and students who pass the Executive
specified in Part II of Schedule CCB to the Company Secretaries Programme Examination under the syllabus specified in Annexure
Regulations, 1982 on his switch over to the syllabus specified at (7) II, students who pass the Intermediate Examination under the
above (on the basis of having secured 60 per cent or more marks or syllabus specified in Part II of Schedule CCB who may so opt,

Student Company Secretary 33 November 2007

 Introduction of New Syllabus of the Company Secretaryship Course
shall be examined in the Professional Programme Examination (14) A candidate shall be exempted from appearing in the individual
held from and including June 2009, in eight papers comprised in papers on the basis of exemption previously secured from individual
four modules of two papers each as under : papers/groups by him/her under the syllabus specified in Part III
Module I of Schedule CCB to the Company Secretaries Regulations, 1982
1. Company Secretarial Practice on his/her switch over to the syllabus specified at (12) above (on
the basis of having secured 60 per cent or more marks or on the
2. Drafting, Appearances and Pleadings basis of qualification or on the basis of having already passed
Module II the paper).
3. Financial, Treasury and Forex Management Papers passed/exempted Exemption from Papers under
4. Corporate Restructuring and Insolvency under the syllabus specified the syllabus specified in Annexure
Module III in Part III of Schedule CCB III for Professional Programme
of Company Secretaries effective from 1st August, 2008
5. Strategic Management, Alliances and International Trade
Regulations, 1982
6. Advanced Tax Laws and Practice
Group I Module I, II & III
Module IV
1. Advanced Company Law Company Secretarial Practice
7. Due Diligence and Corporate Compliance Management and Practice
8. Governance, Business Ethics and Sustainability 2. Secretarial Practice relating Drafting, Appearances and
(12) The syllabus for the Professional Programme Examination is to Economic Laws and Pleadings
annexed (Annexure III). The first Professional Programme Drafting & Conveyancing
Examination for the students mentioned at (11) above will be 3. Secretarial, Management Due Diligence and
held from and including June, 2009. Systems Audit and Corporate Compliance
(13) Qualifying Marks : Management
(a) For all modules : A candidate shall be declared to have passed Group II
in all modules of the Professional Programme examination : 4. Financial, Treasury and Financial, Treasury and Forex
(i) if taken simultaneously and if he/she secures at one sitting Forex Management Management
a minimum of forty per cent marks in each of the papers 5. Corporate Restructuring - Corporate Restructuring and
in which he/she is required to appear and fifty per cent Law and Practice Insolvency
marks in the aggregate of all the papers put together; 6. Banking and Insurance - Governance, Business Ethics
(ii) if he/she has passed in any one or two groups of Final Law and Practice and Sustainability
Examination held under the syllabus specified in Part III Group III
of Schedule CCB to the Company Secretaries
7. World Trade Organisation - Strategic Management,
Regulations, 1982, prior to the commencement of
International Trade, Joint Alliances and International Trade
Professional Programme examination under the new
Ventures and Foreign
syllabus specified in Annexure III and secures at one
Collaborations
sitting a minimum of forty per cent marks in each of the
remaining papers in which he/she is required to appear 8. Direct and Indirect Taxation Advanced Tax Laws and
and fifty per cent marks in the aggregate of all the - Law and Practice Practice
remaining papers put together. 9. Human Resources Governance, Business Ethics
(b) For one module : A candidate shall be declared to have passed Management and and Sustainability
in a module if he/she secures at one sitting a minimum of forty per Industrial Relations
cent marks in each of the paper(s) and fifty per cent, marks in the Scheme of Exemptions on the basis of groups passed
aggregate of all the papers of that module and shall be declared to under the Existing Syllabus
have completed the Professional Programme Examination on Final Course Professional Programme
passing all the modules ; Group I (Three papers) Module I (Two papers)
Provided that a candidate who has appeared in both the papers 1. Advanced Company Law Company Secretarial Practice
of a module for which he/she was enrolled and has obtained and Practice
sixty per cent marks or above in one paper, and a minimum of
twenty five per cent marks in the other paper of the module but 2. Secretarial Practice relating Drafting, Appearances and
failed in the module, shall be declared to have passed in any to Economic Laws and Pleadings
subsequent examination, if he/she obtains a minimum of fifty Drafting & Conveyancing and
per cent marks in the other paper. 3. Secretarial, Management Module IV
Explanation : For the purpose of the above proviso, the marks and Systems Audit Due Diligence and Corporate
obtained by a candidate in the paper in which he/she had obtained Compliance Management
exemption on the basis of having secured sixty per cent or more Group II (Three papers) Module II (Two papers)
marks shall not be taken into account 4. Financial, Treasury and Financial, Treasury and Forex
for computing his/her result of the remaining paper of the module Forex Management Management
for any subsequent examination. 5. Corporate Restructuring Corporate Restructuring and
Distinction : A candidate shall be declared to have passed with Law and Practice Insolvency
distinction in the Professional Programme Examination if he/she 6. Banking and Insurance and
obtains at one sitting a minimum of fifty per cent marks in each Law and Practice Module IV
paper and seventy per cent marks or above in the aggregate in Governance, Business Ethics
all the modules, without obtaining any exemption. and Sustainability

Student Company Secretary 34 November 2007

 Introduction of New Syllabus of the Company Secretaryship Course
Group III (Three papers) Module III (Two papers) meetings in the office; summary of decisions taken in meetings and
7. World Trade Organisation Strategic Management, conferences.
- International Trade, Alliances and International Part B : Business Communication (50 Marks)
Joint Ventures and Trade 4. Business Communication
Foreign Collaborations
Meaning and significance of good communication; principles of business
8. Direct and Indirect Advanced Tax Laws and
communication; means of communication - oral, written, visual, audio-
Taxation - Practice
visual; essentials of a good business letter, etc.
Law and Practice and
9. Human Resources Module IV 5. Business Correspondence
Management and Governance, Business Ethics Personnel : drafting of interview letters, call letters and offer of
Industrial Relations and Sustainability. appointment; provisional appointment orders; final orders of
(15) Scheme of Exemption on the basis of courses passed appointment.
under the syllabus specified in Part I & II of Schedule CCB to the Purchase : requests for quotations, tenders, samples and drawings;
Company Secretaries Regulations, 1982 test order; complaints and follow-up.
Courses passed under the Corresponding exemptions under Sales : drafting of sales letters, circular letters, preparation of sale
Syllabus specified in the Syllabus for Foundation notes with conditions of sale; status inquiries; reports to sales manager
Part I & II of Schedule Programme and Executive such as sales promotion matters.
CCB of Company Programme
Accounts : correspondence with various agencies : customers -
Secretaries Regulations
regarding dues, follow up letters; banks - regarding over-drafts, cash
(i.e., Existing Syllabus)
credits and account current, insurance companies - regarding payment,
1. Foundation Course Foundation Programme renewal of insurance premium, claims and their settlement.
2. Intermediate Course Executive Programme Secretarial : correspondence with shareholders and debenture-holders
(16) The last Final Examination under the existing syllabus specified pertaining to dividend and interest, transfer and transmission, Stock
in Part III of Schedule CCB shall be held in December, 2010 and Exchanges, Registrar of Companies and various authorities like
the syllabus specified in the said Part III of Schedule CCB shall Reserve Bank of India, SEBI.
cease to operate after the said examination.
Miscellaneous : Resume, letter of application, goodwill messages,
condolence letters.
ANNEXURE I
6. Administration and Miscellaneous
DETAILED COURSE CONTENTS UNDER
Drafting of telegraphic and facsimile messages, messages through
THE FOUNDATION PROGRAMME
electronic media; public notices and invitations; representations to
Each paper will be of three hours duration and will carry 100 marks. Trade Associations, Chambers of Commerce and public authorities.
The medium of writing the examination will be English; provided that it
7. Inter-departmental Communication
shall be competent for the Council to permit, subject to such conditions
as it may deem fit and after giving sufficient advance information to Internal memos; office circulars; office orders; office notes;
the candidates, the use of Hindi as a medium of writing for any particular representation to chief executive and replies thereto; communication
subject(s). Candidates are expected to be conversant with the with regional/branch offices.
amendments to the laws made upto six months preceding the date of 8. Preparation of Press Releases.
examinations. PAPER 2 : ECONOMICS AND STATISTICS
FOUNDATION PROGRAMME Level of knowledge : Basic knowledge
PAPER 1 : ENGLISH AND BUSINESS COMMUNICATION Objective : To provide basic and conceptual understanding of
Level of knowledge : Working knowledge. economic concepts, principles of economics and statistical tools to
interpret and analyse various economic phenomena.
Objective : To help students acquire competence in English to use
the language. Detailed contents :
Detailed contents : Part A : Economics (50 marks)
1. Nature and Scope of Economics
Part A : English (50 Marks)
Definition, nature and scope of economics; micro and macroeconomics;
1. Essentials of Good English
positive and normative economics; working of economic systems with
Grammar and usage; enriching vocabulary, words - multiple meaning, special reference to the capitalistic, socialistic and the mixed
single word for a group of words - choice of words - words frequently economies.
mis-spelt; punctuations, prefix and suffix; parts of speech; articles; 2. Demand and Supply Analysis
synonyms and antonyms; tenses; idioms and phrases; foreign words
Utility analysis - total utility and marginal utility; law of diminishing
and phrases commonly used; abbreviations and numerals;
marginal utility; law of equi-marginal utility; consumers equilibrium;
pronunciation. Latin, French and Roman words which are used in law of demand; elasticity of demand; law of supply, elasticity of supply;
abbreviated form like e.g., RSVP, viz. etc.. demand and supply equilibrium.
2. Essay Writing 3. Production, Costs and Revenue Analysis
Essays on matters of current interest on trade, commerce, industry Factors of production, meaning of production, laws of returns; returns
and profession. to scale; cost concepts and cost curves; revenue concepts and revenue
3. Precis Writing curves.
Preparation of summary of office notes; summary of matters appearing 4. Market Forms and Equilibrium of the Firm and Industry
in economic and commercial dailies and journals for use in committee Market forms - meaning and characteristics; price and output

Student Company Secretary 35 November 2007

 Introduction of New Syllabus of the Company Secretaryship Course
determination and equilibrium of firm and industry under perfect
competition, monopoly and monopolistic competition.
5. Basic characteristics of Indian Economy
Role of Agriculture, Industry & Service Sectors in the development of
the Indian Economy; National income of India Concept, significance,
trends and measurement of national income.
6. Select Areas of Indian Economy
Population size and growth and impact of population on economic
development; unemployment nature, various measures to reduce it;
foreign trade and Indias balance of payments. Five Year Plans and
economic development; fiscal policy and national budget.
7. Money and Banking
Concept of money its functions; Commercial Banks role and
functions; quantity theory of money; credit creation; Reserve Bank of
India and its functions and monetary policy.
8. Economic Reforms and Liberalisation
Major economic reforms since 1991; Globalisation and its impact on
Indian Economy; concept of WTO- an overview.
Part B : Statistics (50 Marks)
9. Descriptive Statistics : Definition and functions of statistics,
statistical techniques commonly used in business activities, law of
statistics, limitations of statistics.
10. Collection and Presentation of Statistical Data : Primary and
secondary data; Classification and, tabulation of data; frequency
distribution of data; diagrams and graphs.
11. Measures of Central Tendency: Mean, median and mode,
geometric mean and harmonic mean.
12. Measures of Dispersion: Range, quartile deviation, mean
deviation, standard deviation.
13. Correlation Analysis: Meaning, significance, nature and types of
correlation; Karl Pearsons coefficient of correlation; rank correlation.
14. Index numbers and Time Series Analysis : Familiarisation with
the concepts relating to index numbers and time series (Simple
Numerical Problems).
PAPER 3 : FINANCIAL ACCOUNTING
Level of knowledge : Basic knowledge
Objective : To familiarize and develop an understanding the skills of
accounting principles for effective recording of business operations of
an entity.
Detailed Contents :
1. Introduction to accounting
2. Recording of transactions
3. Preparation of bank reconciliation statement
4. Rectification of errors
5. Preparation of final accounts (non-corporate entities)
6. Accounting for depreciation
7. Accounting for bills of exchange
8. Accounts of non-profit organizations
9. Single entry accounts - preparation of accounts from
incomplete records
10. Accounting for consignments and joint ventures
11. Partnership accounts simple problems
12. Insurance claims
PAPER 4 : ELEMENTS OF BUSINESS LAWS
AND MANAGEMENT
Level of knowledge : Basic knowledge
Objectives :
(i) To give an exposure to the students of some of the important
Student Company Secretary
commercial laws, the knowledge of which is essential for an
understanding of the legal implications of the general activities
of a modern business organisation.
(ii) To acquaint the students with the principles of management.
Detailed contents :
Part A : Elements of Business Laws (50 Marks)
1. Law
Meaning of law, its significance and relevance to modern civilized
society; sources of law.
2. Law relating to Contract An Overview
Contract - meaning; essentials of a valid contract; nature of contract;
performance of contract; termination and discharge of contract;
indemnity and guarantee; bailment and pledge; law of agency.
3. Law relating to Sale of Goods An Overview
Essentials of a contract of sale; sale distinguished from agreement to
sell ; bailment ; contract for work and labour and hire-purchase ; conditions
and warranties; transfer of title by non-owners ; doctrine of caveat
emptor ; performance of the contract of sale ; unpaid seller - his rights
against the goods and the buyer.
4. Law relating to Negotiable Instruments An Overview
Definition of a negotiable instrument; instruments negotiable by law
and by custom; types of negotiable instruments; parties to a negotiable
instrument - duties, rights, liabilities and discharge; material alteration;
crossing of cheques; payment and collection of cheques and demand
drafts; presumption of law as to negotiable instruments.
5. Law relating to Partnership An Overview
Nature of partnership and certain similar organisations; co-ownership;
Joint Hindu Family; partnership deed; rights and liabilities of partners
including those of newly admitted partners, retiring and deceased
partners; implied authority of partners and its scope; registration of
firms; dissolution of firms and of the partnership.
6. Elements of Company Law
Meaning and nature of company; promotion and incorporation of a
company; familiarisation with the concept of Board of directors,
shareholders and company meetings; Company Secretary.
Part B : Elements of Management (50 Marks)
7. Nature of Management and its Process
Meaning; nature of management and its process; planning, organising;
directing; coordination and controlling.
8. Planning
Policies and procedures; methods of planning; decision-making.
9. Organising
Structure; principles and theories of organisation; span of management;
centralisation and de-centralisation; line and staff functions; delegation;
functional organisation; formal and informal organisation; growth in
organisation.
10. Staffing
Meaning; nature and functions of personnel management; selection,
training and development; performance appraisal.
11. Direction and Co-ordination
Communication; motivation, morale and leadership; internal and
external co-ordination; committees in management; management of
change; organisation development (O.D.).
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 Introduction of New Syllabus of the Company Secretaryship Course
12. Controlling
Concepts and basic control process; essentials of a good control
system; traditional and non-traditional control devices.
13. Social Responsibility of Business.
ANNEXURE II
DETAILED COURSE CONTENTS UNDER
THE EXECUTIVE PROGRAMME
Each paper will be of three hours duration and will carry 100 marks.
The medium of writing the examination will be English; provided that it
shall be competent for the Council to permit, subject to such conditions
as it may deem fit and after giving sufficient advance information to
the candidates, the use of Hindi as a medium of writing for any particular
subject(s). Candidates are expected to be conversant with the
amendments to the laws made upto six months preceding the date of
examinations.
EXECUTIVE PROGRAMME
MODULE I
PAPER 1 : GENERAL AND COMMERCIAL LAWS
Level of knowledge : Working knowledge
Objective : To provide to the students basic understanding of some
of the general and commercial laws which have a bearing on the
conduct of the corporate affairs.
Detailed contents :
1. Constitution of India
Broad framework of the Constitution of India; fundamental rights;
directive principles of state policy; ordinance making powers of the
President and the Governors; legislative powers of the Union and the
States; freedom of trade, commerce and intercourse; constitutional
provisions relating to State monopoly; judiciary; writ jurisdiction of High
Courts and the Supreme Court; different types of writs - habeas corpus,
mandamus, prohibition, quo warranto and certiorari; Concept of
delegated legislation.
2. Interpretation of Statutes
Need for interpretation of a statute; general principles of interpretation
- internal and external aids to interpretation; primary and other rules.
3. An Overview of Law relating to Specific Relief; Arbitration and
Conciliation; Torts; Limitation and Evidence.
4. Law relating to Transfer of Property
Important definitions; movable and immovable property; properties which
cannot be transferred; rule against perpetuities; lis pendens; provisions
relating to sale, mortgage, charge, lease, gift and actionable claim.
5. Law relating to Stamps
Methods of stamping; consequences of non-stamping and under-
stamping; impounding of instruments; construction of instruments for
determination of stamp duty payable; adjudication; allowance and
refund; penal provisions.
6. Law relating to Registration of Documents
Registrable documents - compulsory and optional; time and place of
registration; consequences of non-registration; description of property;
miscellaneous provisions.
7. Information Technology Law - An Overview
Important terms under Information technology legislation; digital
signatures; electronic records; certifying authority; digital signature
certificate; Cyber Regulation Appellate Tribunal; offences and penalties.
8. Code of Civil Procedure
Elementary knowledge of the structure of civil courts, their jurisdiction,
basic understanding of certain terms - order, judgement and decree,
Student Company Secretary
stay of suits, res judicata, suits by companies, minors, basic
understanding of summary proceedings, appeals, reference, review
and revision.
9. Criminal Procedure Code
Offences; mens rea, cognizable and non-cognizable offences, bail,
continuing offences, searches, limitation for taking cognizance of certain
offences.
10. Law relating to Right to Information
Salient features of the Right to Information (RTI) Act, 2005; Objective;
Public Authorities & their obligations ; Designation of Public Information
Officers (PIO) and their Duties; Request for obtaining information;
Exemption from disclosure; Who is excluded; Information Commissions
(Central & State) and their powers; appellate authorities; penalties;
jurisdiction of Courts; Role of Central/State Governments.
PAPER 2 : COMPANY ACCOUNTS, COST AND MANAGEMENT
ACCOUNTING
Level of knowledge : Working knowledge.
Objectives :
(i) To provide working knowledge of accounting principles and
procedures for companies in accordance with the statutory
requirements.
(ii) To acquaint the students with cost and management
accounting techniques and practices.
Detailed contents :
Part A : Company Accounts (50 Marks)
1. Accounting standards - relevance and significance; national and
international accounting standards.
2. Accounting for share capital transactions - issue of shares at par, at
premium and at discount; forfeiture and re-issue of shares; buy-back of
shares; redemption of preference shares; rights issue.
3. Issue of debentures - accounting treatment and procedures;
redemption of debentures; conversion of debentures into shares.
4. Underwriting of issues ; acquisition of business ; profits prior to
incorporation ; treatment of preliminary expenses.
5. Preparation and presentation of final accounts of joint stock
companies as per company law requirements; bonus shares.
6. Holding and subsidiary companies - accounting treatment and
disclosures; consolidation of accounts.
7. Valuation of shares and intangible assets.
Part B : Cost And Management Accounting (50 Marks)
8. Cost accounting objectives of costing system; cost concepts and
cost classification; management accounting nature and scope; role
of management accountant, tools and techniques of management
accounting; distinction between financial accounting, cost accounting
and management accounting.
9. Elements of cost :
(i) Material cost purchase procedures, store keeping and
inventory control, fixing of minimum, maximum and re-order
levels, ABC analysis, pricing of receipts and issue of material
and accounting thereof; accounting and control of wastage,
spoilage and defectives.
(ii) Labour cost classification of labour costs, payroll
procedures, monetary and non-monetary incentive schemes;
labour turnover and remedial measures; treatment of idle time
and overtime.
(iii) Direct expenses nature, collection and classification of direct
expenses and its treatment.
(iv) Overheads nature, classification, collection, allocation,
apportionment, absorption and control of overheads.
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 Introduction of New Syllabus of the Company Secretaryship Course
10. Methods of costing - unit costing, contract costing.
11. Budgetary control preparation of various types of budgets,
advantages and limitations; budgetary control reports to management.
12. Marginal costing - application of marginal costing; cost-volume-
profit relationship; break-even analysis, preparation of break-even
charts; profit volume graph; practical application of profit volume
ratio.
13. Analysis and interpretation of financial statements - nature,
objectives; latest trends in presenting financial data; importance and
limitations; accounting ratios - classification, advantages and limitations.
14. Cash flow statements classification of cash flows, preparation
and usefulness.
PAPER 3 : TAX LAWS
Level of knowledge : Working knowledge.
Objectives :
(i) To impart knowledge of the basic principles underlying the
substantive provisions of income-tax, wealth tax, service tax
and value added tax laws to the students.
(ii) To equip students with application of principles and provisions
of above tax laws in computation of income and taxation of a
person excluding companies under various heads of income
and their assessment procedures.
Detailed contents :
Part A (60 Marks)
The Income-tax Act
1 Definitions, concept of income, previous year, assessment year,
residential status.
2. Distinction between capital and revenue receipts and expenditure.
3. Basis of charge and scope of total income (Incomes deemed to
accrue or arise in India and deemed to be received in India).
4. Incomes which do not form part of total income.
5. Computation of total income under various heads, such as -
salaries, income from house property, profit and gains of business
or profession, capital gains, income from other sources.
6. Income of other persons included in assessees total income;
aggregation of income and set off or carry forward of losses;
various deductions to be made in computing total income, rebates
and reliefs; applicable rates of taxes and tax liability.
7. Taxation of every person excluding companies, viz., individuals
including non-residents, Hindu Undivided Family, firms,
association of persons, cooperative societies, trusts and charitable
and religious institutions, etc.
8. Provisions concerning procedure for filing returns, signatures, e-
filing, assessment and reassessment.
9. Tax deducted at source, collection, recovery and refund of tax;
provisions of advance tax.
10. Charge of banking cash transaction tax, taxable banking
transaction, value of taxable banking transaction, collection,
recovery, return, assessment, rectification, interest on delayed
payments, penalty, appeal, power to make rules.
11. Charge of fringe benefit tax, fringe benefits and deemed fringe
benefits, valuation, payment and return of fringe benefits,
assessment, issue of notice, advance tax in respect of fringe
benefits.
12. Wealth Tax
Charge of wealth tax; assets; deemed assets and assets exempt
Student Company Secretary
from tax; valuation of assets; computation of net wealth, return of
wealth and provisions concerning assessment.
Part B (20 Marks)
Service Tax
13. Background, Statutory provisions, taxable services, valuation,
administrative mechanism and procedural aspects, rate and
computation of tax.
14. Assessment, levy, collection and payment of service tax,
exemptions, CENVAT credit for service tax, returns, appeals,
revisions, advance rulings, role of Practising Company
Secretaries.
Part C (20 Marks)
Value Added Tax
15. Legislative background, concept of VAT - white paper on VAT,
Report of Empowered Committee of State Finance Ministers,
constitutional provisions, relationship of VAT with inter-state
commerce and works contract tax, liability under VAT; withdrawal
of Central Sales Tax; Goods and Service Tax; .
16. Computation, procedural aspects including registration, filling of
returns, rates of tax, assessment, credit and set-off, returns,
refunds, audit, appeals, revision and appearances.
17. Appointment, jurisdiction and powers of authorities, certifications
for professionals.
18. Concept of VAT on services, VAT in other countries, scope for
Company Secretaries.
MODULE II
PAPER 4 : COMPANY LAW
Level of knowledge : Expert knowledge.
Objective : To develop an understanding of the regulation of companies
and to provide thorough knowledge of the various provisions of the
Company Law in India as well as Schedules and Rules made
thereunder including their interpretation through case laws,
departmental circulars, clarifications, notifications, etc.
Detailed contents :
1. Introduction
Nature and form of business enterprise ; types of business enterprises;
company definition and nature.
Historical development of corporate concepts ; emergence of principles
of limited liability and development of Company Law in England and
India.
Concept of corporate personality; corporate veil and its lifting.
Working and administration of Company Law.
2. Incorporation and its Consequences
Types of companies and their incorporation; memorandum and articles
of association and their alteration; registered office; publication of name;
commencement of business; contracts; deeds; common seal; effect
of incorporation.
Re-registration and registration of unregistered joint-stock companies.
The doctrine of ultra-vires, constructive notice and indoor management.
Promoters - meaning and importance; position, duties and liabilities.
3. Financial Structure
Concept of capital and financing of companies, sources of capital;
classes and types of shares; equity with differential rights; issue of
shares at par, premium and discount; forfeiture and surrender of shares;
bonus issues; rights issues; issue of sweat equity shares; employees
stock option scheme; private placement.
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 Introduction of New Syllabus of the Company Secretaryship Course
Alteration of share capital; reduction of capital; buy-back of shares.
Debt capital - debentures, debenture stock, bonds; new developments
in corporate debt financing; debenture trust deed and trustees;
conversion of and redemption of debentures.
Securing of debts creation, modification and satisfaction of charges.
Prospectus definition; abridged prospectus; red-herring prospectus;
shelf prospectus; information memorandum; contents, registration,
misrepresentations and penalties.
Allotment and certificates - contracts to subscribe for shares,
debentures and other securities; calls; share certificates and share
warrants.
4. Membership, Depositories and Transfer/Transmission
Membership - modes of acquiring membership; rights and privileges
of members, register of members; dematerialisation and
rematerialisation of securities; transfer and transmission of securities
in physical and depository modes; nomination.
5. Management and Control of Companies
Directors appointment/re-appointment, qualifications,
disqualifications, remuneration, vacation of office, retirement,
resignation and removal; loans to directors; powers and duties; office
or place of profit; role of directors; contracts in which directors are
interested.
Managing and whole-time directors and manager.
Company secretary appointment, role and responsibilities; company
secretary as a principal officer.
Meetings of directors and committees - frequency, convening, and
proceedings of Board /Committee meetings; tele and video-
conferencing of Board/Committee(s); resolution by circulation; minutes
and evidence.
General meetings - kinds of meetings; law, practice and procedure
relating to convening and proceedings at general and other meetings
notice, quorum, proxy, voting including voting through electronic
means, resolutions, circulation of members resolution, etc.; postal
ballot; recording, signing and inspection of minutes; role of chairman.
Distribution of powers of a company - division of powers between Board
and general meetings; acts by directors in excess of authority;
monitoring and management.
Sole Selling and Buying Agents - Meaning, appointment and
reappointment, removal; powers of Central Government and rules
framed for the purpose.
6. Dividend
Profit and ascertainment of divisible profits; declaration and payment of
dividend; treatment of unpaid and unclaimed dividend; transfer of unpaid
and unclaimed dividend to Investor Education and Protection Fund.
7. Investments, Loans and Deposits
Law relating to making investments in and granting loans to other bodies
corporate and giving guarantees and providing security.
Invitation, acceptance, renewal, repayment, default and remedies.
8. Accounts and Audit
Books of account; financial statements; audit and auditors report;
powers of the Central Government to direct special audit; cost audit.
Auditors - appointment, resignation and removal; qualification and
disqualification; rights, duties and liabilities.
9. Boards Report and Disclosures preparation; disclosures;
directors responsibility statement.
Compliance certificate need and purpose; issue and signing by
practising company secretary; disclosure and filing.
Student Company Secretary
10. Registers and Returns maintenance, authentication,
presentation and inspection of statutory books/registers prescribed
under various provisions of the company law and filing of various forms/
returns to Registrar of Companies; procedure and penalties for delayed
filing, etc.
Annual Return - Nature and significance ; contents ; filling preparation
and disclosures; signing, certification and filing; maintenance, place
of keeping and its inspection.
11. Inspection and Investigation
Inspection of documents, books of account, registers etc; powers of
the inspector, seizure of books and documents, inspectors report;
power of the Registrar of Companies, investigation into affairs of the
company.
12. Majority Rule and Minority Rights
Law relating to majority powers and minority rights.
Shareholder remedies - actions by shareholders; statutory remedies;
personal actions; prevention of oppression and mis-management.
13. Compromises and Arrangements an overview.
14. Societies, Co-operative Societies, Trusts, Producer Companies
and Limited Liability Partnerships
Concept, formation, membership, functioning and dissolution.
15. Application of Company Law to Different Sectors such as
Banking, Insurance, etc.
16. Offences and Penalties an overview.
17. Striking off Name of Companies.
Concept.
18. Winding up of Companies
Concept and modes.
19. An Introduction to E-governance
PAPER 5 : ECONOMIC AND LABOUR LAWS
Level of knowledge : Working knowledge.
Objective : To provide an understanding of
(i) certain economic laws; and
(ii) important labour laws which have direct relevance to the
functioning of companies.
Detailed contents :
Part A : Economic Laws (60 Marks)
1. Industries Development and Regulation
Objects and definitions - an overview of current Industrial Policy;
regulatory mechanism under IDRA. The Micro, Small and Medium
Enterprises Development Act, 2006.
2. Foreign Trade Policy and Procedures
Main features; served from India scheme; export promotion council;
vishesh krishi and gram udyog yojana; focus market scheme; duty
exemption and remission schemes; advance authorisation scheme and
DFRC, DEPB, EPCG, etc; EOUs, EHTPs, STPs, BPTs and SEZs.
3. Trade, Competition and Consumer Protection
Concept of competition, development of competition law, overview of
MRTP Act; Competition Act, 2002 - anti competitive agreements, abuse
of dominant position, combination, regulation of combinations,
Competition Commission of India; Appearance before Commission,
compliance of Competition Law.
Consumer protection in India, genesis of the law; objects; rights of
consumers; nature and scope of remedies; appearance before
Consumer Dispute Redressal Forums.
39 November 2007
 Introduction of New Syllabus of the Company Secretaryship Course
4. Essential Commodities and Standards of Weights and Measures
Objects; powers of Central Government, seizure and confiscation of
essential commodities; summary trial; Standards of Weights and
Measures Act, 1976.
5. Management of Foreign Exchange Transactions
Objectives and definitions under FEMA. Current account transactions,
Capital account transactions, foreign direct investment in India and
abroad, acquisition and transfer of immovable property; Establishment
in India of branch, office etc; Export of goods and services; Realisation
and repatriation of foreign exchange, authorised person, penalties and
enforcement.
Foreign contributions and hospitality; Exemptions, powers of Central
Government, adjudication and appeal; offences and penalties.
6. Pollution Control and Environmental Protection
Concept of sustainable development, Government policy regarding
environment, law relating to Prevention and Control of Air Pollution
and Water pollution, Environment (Protection) Law; Appearance before
Environment Tribunal/Authority.
7. Management of Intellectual Property Rights
Concept and development of intellectual property law in India. Law
and procedure relating to patents, trade marks and copyrights; Overview
of laws relating to other related intellectual property rights.
Intellectual Property Appellate Board
8. Prevention of Money Laundering
Genesis, concept and definitions, various transactions, etc. obligations
of banks and financial institutions, RBI Guidelines on KYC.
Part - B : Labour Laws (40 Marks)
9. Minimum Wages Act, 1948
Object and scope; Minimum Wages Act, Advisory Board, Central
Advisory Board; Authority and claims, compliances, offences and
penalties.
10. Payment of Bonus Act, 1965
Object, application and major provisions; Exemption; compliances,
offences and penalties.
11. Payment of Gratuity Act, 1972
Application and major provisions ; Controlling Authority and the
Appellate Authority, obligations and rights of employers and employees
and compliances.
12. Employees Provident Funds and Miscellaneous Provisions
Act, 1952
Application and major provisions; Exemption and compliances.
13. Employees State Insurance Act, 1948
Application and major provisions; Employees State Insurance,
Employees State Insurance Corporation, Employees Insurance Court;
Exemptions and compliances.
14. Workmens Compensation Act, 1923
Object, scope and major provisions including proceedings before the
Commissioner, appeals, compliances, penalties, special provisions.
15. Contract Labour (Regulation and Abolition) Act, 1970
Application, scope and major provisions including Advisory boards,
registration of establishments, appointment of licensing officer; Welfare
and health; compliances; penalties and procedure and inspectors.
16. Industrial Disputes Act, 1947
Concept, objective, and significance, Authorities; procedure and
powers; unfair labour practices, penalties.
17. Industrial Employment (Standing Orders) Act, 1946
Object, scope and major provisions of the Act and compliances.
Student Company Secretary
18. Factories Act, 1948
Object, scope and major provisions; Authorities, compliances and
penalties.
PAPER 6 : SECURITIES LAWS AND COMPLIANCES
Level of knowledge : Expert knowledge
Objective: To provide expert knowledge and understanding of
securities laws and the regulatory framework concerning capital markets
in India.
Detailed contents :
Part A : Securities Laws (60 Marks)
1. An Overview of Legal and Regulatory Framework
Capital market regulatory framework Securities Contracts (Regulation)
Act, 1956; SEBI Act, 1992; Depositories Act, 1996; authorities
governing capital markets; objective, power and functions of SEBI;
Securities Appellate Tribunal, appearance before SAT.
Profile of securities market; securities market reforms and regulatory
measures to promote investor confidence; growth of money market in
India structure and institutional mechanism.
2. Capital Market Instruments and Rating
Capital market instruments - equity, debentures, preference shares,
sweat equity, non-voting shares ; new instruments of capital market -
pure, hybrid and derivatives; money market instruments - treasury bills,
commercial bills, commercial paper, participatory notes; rating and
grading of instruments; concept, scope and significance; regulatory
framework; rating agencies in India, rating methodologies.
3. Capital Market Intermediaries
Primary market and secondary market intermediaries - role and
functions, merchant bankers, stock brokers, registrars to an issue,
underwriters, bankers to issue, portfolio managers, debenture- trustees,
foreign Institutional investors etc., self regulatory organisations,
guidelines on anti money laundering; surveillance; holding of enquiry.
4. Secondary Market Institutions
Functions and significance of stock exchanges; regulatory framework;
operations and trading mechanism of stock exchanges; Settlement of
securities, surveillance mechanism at stock exchanges, straight through
processing, demutualisation of stock exchanges.
5. Mutual Funds
Introduction, definitions, types, risks involved, setting up of mutual fund;
concept of Trustee and Asset Management Company; regulatory
framework.
6. Venture Capital
Concept of venture capital, regulatory framework, registration,
investment conditions and restrictions, foreign venture capital investors,
private capital funds.
7. Collective Investment Schemes
Regulatory framework governing collective investment schemes,
restrictions on business activities, submission of information and
documents, trustees and their obligations.
8. Buy-Back of Securities
Objectives of buy-back; available sources for buy-back of securities;
conditions to be fulfilled and obligations for buy-back of securities of
both listed and unlisted companies; pricing for buy back; modes of
buy-back.
9. Depository System
Overview of depository system in India; Depositories
Act; definitions, setting up of depository; role and functions of
depository; depository participants; inspection and penalties; internal
audit and concurrent audit of depository participants.
40 November 2007
 Introduction of New Syllabus of the Company Secretaryship Course
Part B : Issue Management And Compliances (40 Marks)
10. Issue of Capital
Listing of securities; SEBI Guidelines for Disclosure and Investor
Protection (DIP), procedure for issue of various types of shares and
debentures, employee stock option scheme; and employee stock
purchase scheme, delising of securities.
11. Resource Mobilisation in International Capital Market
Listing of securities issued outside India - Foreign Currency Convertible
Bonds, Global Depository Receipts, American Depository Receipts;
External Commercial Borrowings, procedure for issue of various
instruments.
12. Indian Depository Receipts
Indian Depository Receipts, procedure for making an issue of IDRs;
conditions for issue of IDRs; listing of IDRs.
ANNEXURE III
DETAILED COURSE CONTENTS UNDER
THE PROFESSIONAL PROGRAMME
Each paper will be of three hours duration and will carry 100 marks.
The medium of writing the examination will be English; provided that it
shall be competent for the Council to permit, subject to such conditions
as it may deem fit and after giving sufficient advance information to
the candidates, the use of Hindi as a medium of writing for any particular
subject(s). Candidates are expected to be conversant with the
amendments to the laws made upto six months preceding the date of
examinations.
PROFESSIONAL PROGRAMME
MODULE I
PAPER 1: COMPANY SECRETARIAL PRACTICE
Level of knowledge : Expert knowledge.
Objective : To provide an in-depth understanding of the procedures
under the Companies Act, Rules and Regulations made thereunder
including understanding of international dimensions of company law.
Detailed contents :
1. E-governance (MCA 21)
Important Features of MCA-21 CIN, DIN, DSC, CFC, SRN, etc; E-
forms and on-line filing and inspection of documents.
2. Company Formation and Conversion
Choice of form of business entity; conversion/ re-conversion of one
form of business entity into another.
Procedure for incorporation of private/public companies, companies
limited by guarantee and unlimited companies and their conversions/
re-conversion/re-registration; obtaining certificate of commencement
of business; obtaining certification of re-registration; commencement
of new business and certification; filing of agreements with managerial
personnel;
Formation of associations not for profit and non profit companies;
procedure relating to foreign companies carrying on business in India.
3. Alteration of Memorandum and Articles
Procedure for alteration of various clauses of memorandum: name
clause, situation of registered office clause, objects clause, capital clause
and liability clause; procedure for alteration of articles; effect of alteration.
4. Issue and Allotment of Securities
Procedure for public issue, rights issue and bonus shares; procedure
for issue of securities at par/premium/discount; procedure for calls on
shares; Issue of sweat equity shares, employees stock option scheme,
shares with differential voting rights; issue and redemption of preference
shares; issue of shares on preferential basis/private placement.
Return of allotment and effect of irregular allotment; issue of certificates;
Student Company Secretary
alteration of share capital; procedure for forfeiture of shares and re-
issue of forfeited shares; cancellation of shares; surrender of shares;
conversion and re-conversion of shares into stock.
Procedure for issue of debentures including creation of security and
debenture redemption reserve; drafting of debenture trust deed;
conversion of and redemption of debentures.
5. Membership and Transfer/Transmission
Procedure for induction of members; nomination of shares; variation
of shareholders rights; cessation of membership including dispute
resolution.
Transfer/transmission/transposition ; dematerialization/
rematerialisation of securities.
6. Directors and Managerial Personnel
Procedure for appointment, reappointment, resignation, removal and
varying terms of appointment/ re-appointment of directors and
managerial personnel.
Procedure for payment of remuneration to directors and managerial
personnel and disclosures thereof; compensation for loss of office;
waiver of recovery of remuneration; directors and officers liability
insurance.
Procedure for making loans to directors, disclosure of interest by a
director, holding of office or place of profit by a director/relative, etc. of
a director.
Company Secretary Appointment, resignation and removal of
Company Secretary; role of the Company Secretary; functions and
duties; relationship with chairman and directors; secretary as advisor
to the chairman and the board.
Company Secretary in Practice Functions ; procedure for
appointment, resignation and removal of company secretary in practice.
Auditors
Procedure for appointment/reappointment, resignation and removal
of statutory auditors and branch auditors; appointment of cost auditors;
special auditors; CAG audit.
7. Decision-making Forums and Meetings
Collective decision making forums - authority, accountability, delegation
and responsibility.
Board Meetings - Convening and management of Board and Committee
Meetings.
General Meetings - convening and management of statutory meeting,
annual and extra-ordinary general meetings, class meetings;
preparation of notices and agenda papers.
Procedure for passing of resolutions by postal ballot, conducting a poll
and adjournment of a meeting.
Post-meeting formalities including preparation of minutes and
dissemination of information and decisions including filing thereof.
8. Preparation & Presentation of Reports
Preparation of financial statements, auditors report, directors report
and report on corporate governance.
9. Distribution of Profit
Procedure for ascertainment of divisible profits and declaration of
dividend; payment of dividend; claiming of unclaimed/unpaid dividend;
transfer of unpaid/unclaimed dividend to Investor Education and
Protection Fund.
10. Charges
Procedure for creation/modification/satisfaction of charges and
registration thereof; register of charges; inspection of charges.
11. Inter-corporate Loans, Investments, Guarantees and Security
Procedure for making inter-corporate loans, investments, giving of
guarantees and providing of security.
41 November 2007
 Introduction of New Syllabus of the Company Secretaryship Course
12. Filling and Filing of Returns and Documents, etc.
Procedure for filling and filing of returns and documents :
(a) Annual filing, i.e., annual accounts, compliance certificate,
annual return, etc.
(b) Event based filing.
13. Striking off Names of Companies Law and Procedure.
14. Best Practices - Secretarial Standards
Concept, scope and advantages; Secretarial Standards issued by the
ICSI; Compliance of secretarial standards for good governance.
15. Insider Trading
Concept and rationale behind prohibition of insider trading; SEBIs
Insider Trading Regulations; major actions taken by SEBI so far; Role
of Company Secretary in compliance requirements.
16. Global Developments in Company Law
Contemporary developments, distinguishing and evolving features of
company law in other jurisdictions.
PAPER 2 : DRAFTING, APPEARANCES AND PLEADINGS
Level of knowledge : Working knowledge.
Objective : To acquaint the students with fundamentals of drafting,
pleadings and advocacy techniques.
Detailed contents
1. General Principles of Drafting
General principles and rules of drafting of deeds and conveyance,
basic components of deeds, endorsement and supplemental deeds,
aids to clarity and accuracy, legal requirements and implications.
2. Drafting of Agreements
Drafting of various Agreements including collaboration agreements,
arbitration; guarantees, counter guarantees; bank guarantee,
hypothecation agreement, outsourcing agreements, service
agreements, leave and license, etc.
3. Drafting of Various Deeds
Deed of sale of land, building, mortgage, licence, lease, assignment,
trust, partnership, Power of Attorney, etc.
4. Drafting of Agreements under the Companies Act
Pre incorporation contracts; Memorandum and Articles of Association
and other agreements.
5. Appearances and Pleadings
Appearance before tribunals/quasi judicial bodies such as CLB, SAT,
NCLT, CCI TRAI, etc. and appellate authorities.
Drafting of petitions/applications; drafting of written statement, counter
affidavit, reply and rejoinder.
Drafting of Affidavit in evidence ; arguments on preliminary submissions,
arguments on merits ; legal pleadings and written submissions.
Drafting and filing of Appeals, writ petitions, special leave petition,
revision and review applications, affidavits.
Dress code, etiquettes and court craft.
6. Compounding of Offences
Compounding of offences under the Companies Act, SEBI Act, FEMA
etc. Consent Orders.
MODULE II
PAPER 3 : FINANCIAL, TREASURY AND FOREX
MANAGEMENT
Level of knowledge : Expert knowledge.
Objectives :
(i) To provide conceptual clarity about the management tools
and techniques used in financial planning, analysis, control
and decision making.
Student Company Secretary
(ii) To provide knowledge of derivatives, forex and treasury
management to enable the candidates to tackle practical
situation with ease.
Detailed contents :
1. Nature and Scope of Financial Management
Nature, significance, objectives and scope of financial management;
risk-return and value of the firm; financial distress and insolvency;
financial sector reforms and their impact on financial management;
functions of finance executive in an organisation; financial management
recent developments.
2. Capital Budgeting Decisions
Planning and control of capital expenditure; capital budgeting process;
techniques of capital budgeting- discounted and non-discounted cash
flow methods, choice of methods; capital rationing; risk evaluation and
sensitivity analysis, simulation for risk evaluation; linear programming
and capital budgeting decisions.
3. Capital Structure Decisions
Meaning and significance of capital structure; capital structure vis-a-
vis financial structure; capital structure planning and designing; optimal
capital structure; determinants of capital structure; capital structure
and valuation - theoretical analysis; EBIT EPS analysis; cost of capital;
factors affecting cost of capital, measurement of cost of capital,
weighted average cost of capital, marginal cost of capital; risk and
leverage; measures of leverage, leverage effects on shareholders
returns.
4. Sources of Finance
Equity, non-voting preference shares; debentures and bonds;
company deposits; term loans from financial institutions and banks;
international finance and syndication of loans; euro-issues and
external commercial borrowings; FCCB; internal funds as a source
of finance; dividend policy and retention of profits; bonus shares;
deferred payment arrangements; corporate taxation and its impact
on corporate financing; financing cost escalation.
5. Dividend Policy
Introduction; types, determinants and constraints of dividend policy;
different dividend theories Walters Model, Gordons Model and
Modigliani-Miller Hypothesis of dividend irrelevance; forms of dividend;
dividend policy - practical considerations and legal constraints;
corporate dividend practices in India; statutory framework.
6. Working Capital Management and Control
Working capital - meaning, types, determinants; assessment of working
capital requirements - operating cycle concept and applications of
quantitative techniques; management of working capital - cash,
receivables, inventories; financing of working capital; banking norms
and macro aspects of working capital management.
7. Security Analysis and Portfolio Management
Security analysis - fundamental approach, technical approach and
efficient capital market theory; portfolio management - meaning,
objectives; portfolio theory traditional approach; modern approach -
CAPM model.
8. Financial Services
Meaning, significance and scope of financial services ; types of financial
services merchant banking, leasing and hire purchase, venture
capital, mutual funds, factoring and forfeiting, securitisation of debt,
loan syndication, custodial and corporate advisory services, credit
rating.
9. Project Planning and Control
Project Planning and preparation of project report; project appraisal
under normal, inflationary and deflationary conditions; project appraisal
by financial institutions lending policies and appraisal norms by
financial institutions and banks; loan documentation and loan
42 November 2007
 Introduction of New Syllabus of the Company Secretaryship Course
syndication, project review and control; social cost and benefit analysis
of project.
10. Derivatives and Commodity Exchanges
Concept of derivatives; financial derivatives and commodity derivatives;
types of derivatives - forward contracts, futures contracts, options;
participants in futures and options market, Index based derivatives
and security based derivatives; derivatives and exposure management,
currency forwards, currency futures, currency options and currency
swaps and interest rate risk management; derivative markets in India;
commodity exchanges in India.
11. Treasury Management
Meaning, objectives, significance, functions and scope of treasury
management; relationship between treasury management and financial
management; role and responsibilities of chief finance executive; tools
of treasury management; internal treasury controls; environment for
treasury management; role of information technology in treasury
management; liquidity management, regulation, supervision and control
of treasury operations, implications of treasury on international banking.
12. Forex Management
Nature, significance and scope of forex management; foreign exchange
market and its structure; foreign exchange rates and its determination;
exchange rate quotes; types of exchange rates; forex trading; currency
futures and options; foreign exchange risk exposures and their
management; exchange rate forecasting; risk in foreign exchange
business.
13. Recent Developments in Financial, Treasury and Forex
Management
14. Practical Problems and Case Studies.
PAPER 4 : CORPORATE RESTRUCTURING
AND INSOLVENCY
Level of knowledge : Expert knowledge.
Objectives : To provide an in-depth understanding of all aspects of
law and practical issues relating to corporate restructuring and
insolvency.
Detailed contents :
Part A : Corporate Restructuring (70 Marks)
1. Introduction
Meaning of corporate restructuring, need, scope and modes of
restructuring, historical background, global scenario, national scenario.
2. Strategies
Planning, formulation and execution of various corporate restructuring
strategies - mergers, acquisitions, takeovers, disinvestments and
strategic alliances, demergers and hiving off.
3. Mergers and Amalgamations
Meaning and concept; legal, procedural, economic, accounting, taxation
and financial aspects of mergers and amalgamations including stamp
duty and allied matters; interest of small investors; merger aspects
under competition law; jurisdiction of courts; filing of various forms;
Amalgamation of banking companies and procedure related to
Government companies; Cross border mergers.
4. Takeovers
Meaning and concept; types of takeovers; legal aspects - SEBI takeover
regulations; procedural, economic, financial, accounting and taxation
aspects; stamp duty and allied matters; payment of consideration; bail
out takeovers and takeover of sick units; takeover defences; cross
border takeovers.
5. Funding of Mergers and Takeovers
Financial alternatives; merits and demerits; funding through various
types of financial instruments including equity and preference shares,
options and securities with differential rights, swaps, stock options;
Student Company Secretary
ECBs, funding through financial institutions and banks; rehabilitation
finance; management buyouts/leveraged buyouts.
6. Valuation of Shares and Business
Introduction; need and purpose; factors influencing valuation; methods
of valuation of shares; corporate and business valuation.
7. Corporate Demergers and Reverse Mergers
Concept of demerger; modes of demerger - by agreement, under
scheme of arrangement; demerger and voluntary winding up; legal
and procedural aspects; tax aspects and reliefs; reverse mergers
procedural aspects and tax implications.
8. Post Merger Re-organisation
Factors in post merger reorganization: integration of businesses and
operations, financial accounting, taxation, post merger valuation,
human and cultural aspects; assessing accomplishment of post merger
objectives; measuring post merger efficiency.
9. Financial Restructuring
Reduction of capital; reorganisation of share capital
Buy-back of shares concept and necessity; procedure for buy-back
of shares by listed and unlisted companies.
10. Legal Documentation.
11. Case Studies.
Part B Corporate Insolvency (30 Marks)
12. Revival, Rehabilitation and Restructuring of Sick Companies
Sick companies and their revival with special reference to the law and
procedure relating to sick companies.
13. Securitisation and Debt Recovery
Securitisation Act :
Overview of the Securitisation and Reconstruction of Financial Assets
and Enforcement of Security Interest Act, 2002; process; participants;
Special Purpose Vehicle (SPV), Asset Reconstruction Companies
(ARCs), Qualified Institutional Buyers (QIB).
Debt Recovery Act :
Overview of the Recovery of Debts Due to Banks and Financial
Institutions Act, 1993; Tribunal, Procedure; compromises and
arrangements with banks and creditors.
14. Winding up
Concept; modes of winding up; administrative machinery for winding up.
Winding up process and procedure; managing stakeholders and parties
in liquidation; conducting meetings of shareholders/creditors etc.;
dealing with contracts; managing estate; outsourcing responsibilities
to professionals/service providers such as valuers, security agencies,
etc; best practices in performing liquidation/administrator functions;
accountability and liabilities; Role of liquidators and insolvency
practitioners.
Consequences of winding up; winding up of unregistered companies;
dissolution.
15. Cross Border Insolvency.
MODULE III
PAPER 5 : STRATEGIC MANAGEMENT, ALLIANCES
AND INTERNATIONAL TRADE
Level of Knowledge : Working Knowledge.
Objectives : To develop the basic understanding of the students about
the concepts, techniques and processes relating to strategic
management, alliances as well as International Trade and treaties
including World Trade Organisation.
Detailed contents :
Part A : Strategic Management (40 Marks)
1. Nature and Scope of Strategic Management
43 November 2007
 Introduction of New Syllabus of the Company Secretaryship Course
Concept; role, functions and processes of strategic management in
globally, competitive and knowledge-based environment.
2. Environmental Scanning and Internal Appraisal Analysis
(a) Identification of external variables - economic, technological,
legal, political, socio-cultural and, global; industry appraisal
analysis and forecasting; synthesis of external factors;
(b) Internal scanning of the firm;
(c) Tools and techniques of strategic management SWOT
analysis, situational analysis; Gap analysis, impact analysis,
value chain analysis; business process re-engineering.
3. Planning and Formulation
Formulation of Corporate vision, mission, goals and objectives;
developing strategic alternatives, evaluations of alternatives, selection
of best alternative; strategic planning vis--vis tactical planning;
Strategic models for optimal decisionmaking.
4. Implementation and Control
Strategy implementation; developing programs, budgets and
procedures; strategic control; managing strategic changes.
5. Review
Performance Evaluation - criteria and challenges
6. Risk Management
Meaning, objectives and significance; types of risks; measuring the trade
off between risk and return; control and management of business risks.
7. Management Information Systems
Concept, elements and structure; approaches of MIS development;
pre-requisites of an effective MIS, Enterprise Resource Planning (ERP).
8. Internal Control Systems
Meaning, definition, objectives, classification, scope and limitation of
internal control; steps and techniques of internal control systems.
Part B : Strategic Alliances (20 Marks)
9. Nature and Scope
Meaning, types and stages; integrating alliances into corporate strategy;
cross cultural alliances; implementation and management of strategic
alliances.
10. Foreign Collaborations and Joint Ventures
Industrial Policy; Foreign Investment Policy; kinds and negotiation of
collaboration and joint ventures, drafting of agreement, restrictive
clauses; Indian joint ventures abroad Indian experiences.
Part C : International Trade (40 marks)
11. International Trade and Treaties
Concept and Theories of International Trade, Institutionalisation of
international trade, establishment of World Trade Organisation;
Economic Blocks and Trade Agreements such as ASEAN, EU, SAPTA,
NAFTA etc.; Indias Free Trade, Economic Cooperation and Partnership
Agreements.
12. Anti-dumping, Subsidies and Countervailing Duties
WTO agreements on anti-dumping; safeguard measures; subsidies &
countervailing duties; Regulatory Framework and procedure in India.
13. Settlement of Disputes under WTO
Rules, regulations and procedures relating to settlement of disputes
under WTO.
PAPER 6 : ADVANCED TAX LAWS AND PRACTICE
Level of knowledge : Expert knowledge
Objectives :
To provide
(i) knowledge of framework of taxation system in India.
(ii) knowledge of various concepts and their application relating
Student Company Secretary
to tax laws with a view to integrating the relevance of these
laws with financial planning and management decisions.
(iii) an overview of international taxation.
Detailed contents :
Part A : Direct Taxation - Law and Practice (30 marks)
1. General Framework of Direct Taxation in India
Different direct tax laws and their inter-relationship; importance of
Income Tax Act and Annual Finance Act and related Constitutional
provisions; harmonisation of tax regime.
2. Companies under Income-tax Laws
Classification and tax incidence; corporation tax as per Article 366;
computation of taxable income and assessment of tax liability
considering special provisions relating to companies.
3. Tax Planning
Concept of tax planning; Tax planning with reference to setting up a
new business; locational aspects; nature of business; tax holiday, etc.
Tax planning with regard to specific management decisions such as
mergers and takeovers; location of undertaking; introduction of
voluntary retirement; tax planning with reference to financial
management decisions such as borrowing or investment decisions;
reorganisation or restructuring of capital decisions.
Tax planning with respect to corporate reorganization; tax planning
with reference to employees remuneration.
Tax planning vis--vis important provisions of wealth-tax including court
rulings and legislative amendments.
4. Tax Management
Return and procedure for assessment; special procedure for
assessment of search cases, e-commerce transactions, liability in
special cases; collection and recovery of tax; refunds, appeals and
revisions; penalties imposable, offences and prosecution.
Part B : Indirect Taxation Law And Practice (50 marks)
5. Introduction
Special features of indirect tax leviesall pervasive nature, contribution
to Government revenues; constitutional provisions authorizing the levy
and collection of duties of central excise, customs, service tax, central
sales tax and VAT.
6. Central Excise Laws
Basis of chargeability of duties of central excise - goods, manufacture,
classification and valuation of excisable goods, CENVAT; assessment
procedure, exemption, payment, recovery and refunds of duties.
Clearance of excisable goods; Central Excise Bonds; maintenance of
accounts and records and filing of returns.
Duties payable by small scale units. set-off of duties concept, meaning
and scheme; Central Excise Concessions on exports; search, seizure
and investigation; offences and penalty.
Adjudication, Appeal and Revision, including appearance before
CEGAT by Company Secretary as authorised representative;
settlement of cases.
7. Customs Laws
Levy of and exemption from, customs duties specific issues and
case studies; assessment and payment duties; recovery and refund of
customs duties.
Procedure for clearance of imported and exported goods; drawback of
duties.
Transportation and warehousing
Confiscation of goods and conveyances and imposition of penalties;
search, seizure and arrest, offences and prosecution provisions.
Adjudication, Appeal and Revision; Settlement of Cases.
44 November 2007
 Introduction of New Syllabus of the Company Secretaryship Course
8. Promissory Estoppel in Fiscal Laws principles and applicability
with reference to indirect taxes.
9. Tax Planning and Management - scope and management in
customs, with specific reference to important issues in the respective
areas.
Part C: International Taxation (20 marks)
10. Basic Concepts of International Taxation
Residency issues; source of income; tax havens; unilateral relief and
Double Tax Avoidance; transfer pricing; international merger and
acquisitions; impact of tax on GATT 94, WTO, anti dumping processing;
the subpart F Regime : definition of CFC, Subpart F Income and
Operating Rules.
11. Advance Ruling and Tax Planning
Authority for advance rulings, its power and procedure; applicability of
advance ruling; application for advance ruling and procedure on receipt
of application.
Tax planning and special provisions relating to certain incomes of non-
resident corporate assessee.
Double taxation avoidance agreements; general principles; provisions
and tax implications thereof.
12. Taxation of Inbound Transactions
Taxation of passive investments; capital gains & losses; income
taxation; property taxation; branch profit taxation.
13. Taxation of Outbound Transactions
Foreign tax credit; foreign income exclusions; indirect foreign tax credit
(deemed paid system vs. current pooling system); Controlled Foreign
Corporations; PFICs (Passive Foreign Investment Companies); cross
border merger, acquisitions and transfers.
MODULE IV
PAPER 7 : DUE DILIGENCE AND CORPORATE COMPLIANCE
MANAGEMENT
Level of knowledge : Expert knowledge.
Objective :
(i) To provide thorough understanding and appreciation of
composite legal due diligence in regard to certain corporate
activities.
(ii) To provide expert knowledge about the Corporate Compliance
Management
Detailed contents :
1. Due Diligence
Nature, objectives, significance and scope of due diligence; steps in
the process of due diligence.
Areas of Due Diligence

Initial Public Offer (IPO), Follow-on Public Offer (FPO), Rights
issue, Employees Stock Option Plans (ESOPs), Preferential
Allotment

Issue of debt (both long term & short term) such as
debentures, bonds, warrants etc.

Takeovers and acquisitions

Setting up of business units in India and abroad

Setting up joint ventures

Compliance of Listing Agreement

Internal Audit of Depository Participants

Issue of Global Depository Receipts

Issue of Indian Depository Receipts

Legal Due Diligence
2. Compliance Management
Concept and significance; systems approach to compliance
Student Company Secretary
management; process of establishment of compliance management
system; compliance in letter and spirit.
3. Secretarial Audit
Need, objectives and scope; process; periodicity and format for
secretarial audit report; check-list under various corporate laws; share
transfer audit; compliance certificate.
4. Search / Status Reports
Importance, scope; verification of documents relating to charges;
requirements of financial institutions and corporate lenders; preparation
of report.
5. Securities Management and Compliances
Meaning, need and scope; mechanism for self-regulation; advantages
to company, regulator and investors.
PAPER 8 : GOVERNANCE, BUSINESS ETHICS AND
SUSTAINABILITY
Level of knowledge : Expert Knowledge
Objective : To provide knowledge on global development and best
practices in the corporate world.
Detailed Contents :
Part A: Corporate Governance (50 Marks)
1. Evolution, concept, principles and development.
2. Management structure for corporate governance; Board
structure; building responsive boards - issue and challenges;
effectiveness of Board, board committees and their functioning in
particular audit committee, legal compliance committee and
Stakeholders relationship committee; appraisal of Board performance,
transparency and disclosure; internal control system and risk
management.
3. An analysis of legislative framework of corporate governance
in various countries such as UK, USA, India. .
4. Corporate communication; art and craft of investors relations;
shareholders activism, investor protection and changing role of
Institutional Investors.
5. Corporate Social Responsibility and good corporate citizenship.
6. Various corporate governance forums - Common Wealth
Association for Corporate Governance (CACG), Organization for
Economic Cooperation Development (OECD), International Corporate
Governance Network (ICGN), National Foundation for Corporate
Governance (NFCG), etc.
Part B : Business Ethics (30 Marks)
7. Genesis, significance and scope; organization perspectives.
8. Ethical principles in business codes and innovations.
9. Concept of the stakeholders organization.
10. Activity analysis, business dilemma versus decision, characteristics
of ethical dilemmas; the dilemma resolution process; business ethics
as a strategic management tool; stakeholders protection.
11. Challenges of business ethics and corporate leadership.
Part C: Corporate Sustainability (20 Marks)
12. Genesis, meaning, nature, objectives, significance and scope
of corporate sustainability.
13. Sustainability reporting - frameworks and guidance; trends and
drivers; business benefits of corporate sustainability reporting;
leadership programmes and stakeholder engagement; corporate
sustainability management systems.
14. Legal framework; conventions and treaties on environmental, health
and safety and social security issues.
15. Principle of Absolute Liability - Case studies.
16. Contemporary developments.
45 November 2007
 SMTP ORGANISED BY H.Q./REGIONAL COUNCILS/CHAPTERS
ELIGIBILITY OF PARTICIPANTS : ICSI final passed candidates. SMTP COURSE CONTENTS : Module I-Filling and Filing of
Forms under the Companies Act, 1956.
Module II-Practical and Procedural Aspects of Convening and Conducting Board
Meetings & Annual General Meetings and Related Aspects.
Module III-Managing Public Issues.
Module IV-Loan
Documentation, Joint Ventures & Foreign Collaborations, Raising Finance through EURO Issues & Export and Import Procedures
and Documentation.
Module V-Practical and Procedural Aspects relating to Appearance before CLB/Under SICA, Consumer
Protection Act and Case Studies in RTP/UTP. In addition, the participants would be exposed to case studies and mock board/
general meeting, etc.

Organised by Duration of the Venue of Programme Contact Address

Programme

NIRC of 03.12.2007 NIRC Premises Executive Officer, NIRC of the ICSI, ICSI-NIRC Building, Plot No. 4,
the ICSI to Prasad Nagar, Institutional Area, New Delhi-110005 Tel. : 011-
20.12.2007 25763090/25767190, 25816593 Fax : 25722662 E-mail :
niro@icsi.edu/icsi@eth.net
CCRT of the 29.03.2008 Office Premises Director - Programmes, Plot No. 101, Sector-15, Institutional Area, CBD
ICSI to Belapur, Navi Mumbai-400614 Tel. : 022- 27577814-16 Fax No. :
13.04.2008 022-27577814-16 Fax No. : 022-27574384 E-mail : ccrt@vsnl.com.
(Residential
SMTP)

SCHEDULE OF ACADEMIC DEVELOPMENT PROGRAMME (ADP)

Every student of the Institute, who has been sponsored for 15 months training either in a company or under a Company Secretary in Practice is
compulsorily required to attend and complete 25 Hours Academic Development Programme (ADP). The duration of each ADP would be eight hours
and those who have attended three such programmes would be deemed to have attended 25 Hours ADP.
Fee Rs. 250/- per participant
The Schedule of ADP proposed to be organized by the NIRC is as under :-

Organised by Duration of the Venue of the Programme Contact Address

the Programme
NIRC of 15.12.2007 NIRC Premises Executive Officer, NIRC of the ICSI, ICSI-NIRC Building, Plot No. 4,
the ICSI Prasad Nagar, Institutional Area, New Delhi-110005 Tel. : 25763090/
25767190, 25816593 Fax : 25722662 (STD CODE : 011)
E-mail : niro@icsi.edu/icsi@eth.net

ATTENTION STUDENTS!
Applicability of Latest Finance Act and other changes for
Company Secretaries December 2007 Examination.
DIRECT TAXES
All students may note that for the December 2007 Examination
session, in respect of Direct Taxes, the applicable Assessment
Year shall be 2007-08 (Previous year 2006-07).
Thus, they will have to study Finance Act, 2006 for December
2007 examination. Further, as per the syllabus, students are
required to update themselves about all the Circulars,
Clarifications, Notifications issued by CBDT & Central Government,
which come in to effect on or before 6 months prior to the date of
the respective Examination.
Gift Tax Act has been excluded from the scope of examination
from December 1999 session onwards unless otherwise informed.
INDIRECT TAXES
Students appearing in the Tax Laws (Indirect Tax portion to the
extent of topics covered in the syllabus) and Direct and Indirect
Taxation-Law and Practice (Indirect tax portion) paper of the
Intermediate and Final Courses respectively may take note of the
following changes applicable for December 2007 Examination:
1. All changes made by the Finance Act, 2007.
2. All Circulars, Clarifications/Notifications issued by CBE&C/
Central Government which became effective six months prior
to the date of examination.
CLARIFICATION REGARDING HINDI MEDIUM
Queries are often being received by the Institute with regard
to the option of medium for pursuing the Company
Secretaryship Course.
It is clarified that the students may opt for pursuing the
course in English/Hindi medium. However, the study material
at present is available in English medium only. In any case,
the students can enjoy the facility of submitting their
response sheets to the test papers under the Postal Tuition
Scheme in English or Hindi medium. Similarly, they can
opt to write the Institutes main examination in English or
Hindi Medium.
As regards writing of examination, the option is to be
exercised while filling up the examination form as and when
the students intend to appear in the examination. This option
is to be exercised on group wise basis and not on individual
paperwise basis. Answering to test papers and writing
examination partly in English and partly in Hindi medium is
not permissible.

Student Company Secretary 46 November 2007

 EMPANELMENT OF PRIVATE COACHING CENTRES FOR CONDUCTING ORAL
COACHING CLASSES FOR CS STUDENTS ON BEHALF OF THE INSTITUTE
In a path-breaking initiative, the Council of The Institute of Company Secretaries of India has decided to empanel
Private Coaching Centres for conducting the Oral Coaching Classes for the students undergoing CS Course on
behalf of the Institute. At present, the Institute is conducting the Oral Coaching Classes on its own through its
Regional Councils/ Chapters/ Satellite Chapters.

This landmark decision will undoubtedly have a far reaching impact on the entire Oral Coaching System under
the Company Secretaryship Course and it provides a golden opportunity to reputed Coaching Centres in the private
sector to get associated with one of the premier professional institutes in India constituted under Company Secretaries
Act, 1980, functioning under the administrative jurisdiction of Ministry of Corporate Affairs, Government of India.

The Institute invites applications from interested institutions for conducting Oral Coaching Classes for CS
Students under the aforesaid Scheme. The Regional Councils/ Chapters/ Satellite Chapters of the Institute scattered
all over India have been authorized to scrutinize and forward the applications to Headquarters after preliminary
assessment of infrastructure, etc. in the respective areas along with their recommendations. For format of application,
comprehensive guidelines and modus operandi of the Scheme, please visit the Institutes website www.icsi.edu
OR send an application directly to:-

Shri Sohan Lal, Joint Director (Student Services)

The Institute of Company Secretaries of India,
C-37,Sector-62, NOIDA-201301

STATUS OF TRAINING
(Period from 01-10-2007 to 31-10-2007)
15 Months Training with Company/Company Secretary in Practice and 03 Months & 15 days Practical Training
STAGE-I STAGE-II
Biodata of the students sent to the companies/company Students sponsored for training
secretaries in practice for consideration
APPLICATIONS CASES
Pending Received Forwarded for Pending Pending Received No. of students Pending
Training as on during the consideration as on as on during who have actually as on
Type 30.09.07 month (upto 31.10.07) 31.10.07 30.09.07 the month taken for training 31.10.07
(upto 31.10.07)
15 Months in 15 29 34 10 30 55 65 20
Companies

15 Months with NIL 52 52 NIL 40 125 150 15

CS in Practice

3 Months in 7 130 137 NIL

Company/
15 Days in
Optional Area

2. Exemption
1. Number of applications pending as on 30.09.2007 : 40
2. Number of applications received for exemption : 99
3. Number of exemptions granted : 104
4. Number of pending applications as on 31.10.2007 : 35

Student Company Secretary 47 November 2007

LIST OF THE COMPANIES REGISTERED FOR IMPARTING University, Off. Bandra-Kurla Complex
TRAINING DURING THE MONTH OF SEPTEMBER, 2007 Santacruz (East), Mumbai-400098
Region Training Stipend SOUTHERN
Type (Rs.) K.G. Denim Limited 15 Months Suitable
Then Thirumalai, Mettupalayam-641302 Training
NORTHERN Valumart Info Technologies Limited 15 and 03 4,000
Om Metals Infraprojects Ltd. 15 Months Suitable #142, II Floor, IV Main KEB Layout, Months Practical
Om Tower, Church Road Training BTM 1st Stage Bangalore-560029 Training
M.I. Road, Jaipur-302001 VBC Finance & Leasing Limited 15 Months Suitable
The Sukhjit Starch & Chemicals Ltd. 15 Months Suitable 6-2-914, Ground Floor, Progressive Training
Phagwara-144401, Punjab Training Towers, Khairtabad, Hyderabad-4
Shivalik Global Limited 15 Months Suitable Suryavanshi Spinning Mills Ltd. 15 Months Suitable
12/6, Mile Stone, Mathura Road Training Surya Towers, 6th Floor 105, Training
Sarai Khawaja, Faridabad-121003 Sardar Patel Road, Secunderabad-500003
RFCL Limited 15 Months 7,500 AXA Business Services Pvt. Ltd. 15 Months 8,000-
A-3, Okhla Industrial Area Training 21, Hemanta Basu Sarani, 16/2, Training 10,000
Phase-1, New Delhi-110020 Residency Road, Bangalore-560025
Escorts Asset Management Limited 03 Months Suitable Karvy Stock Broking Limited 15 Months Suitable
11, Scindia House, Cannaught Circus Practical 'Karvy Centre' 8-2-609/K, Avenue 4, Training
New Delhi-110001 Training Street No. 1, Banjara Hills
Vogue Commercial Co. Ltd. 15 Months 6,500 Hyderabad-500034
104, Arunchal Building, 19, Barakhamba Training EASTERN
Road, New Delhi-110019 Vikash Metal & Power Limited 15 Months Suitable
IHHR Hospitality Pvt. Ltd. 15 and 03 3,500 21, Hemanta Basu Sarani (Centre Point) Training
C-26, Qutab Institutional Area Months 3rd Floor, Room No. 312, Kolkata-700001
New Delhi-110016 Practical Training NICCO Corporation Limited 15 Months 6,000-
Nitishree Infrastructure Limited 03 Months Suitable Nicco House, 2 Hare Street, Kolkata-700001 Training 8,000
B-111, Sector-5, Noida-201301 Practical Training Murlidhar Ratantal Exports Ltd. 15 Months 3,000-
WESTERN 15B, Hemanta Basu Sarani, Kolkata-700001 Training 5,000
UTI Infrastructure and Services Ltd. 15 Months 1000 Spencer's Retail Limited 15 Months Suitable
(A Govt. of India Company) Training Duncan House, 1st Floor, 31, Training
UTI Tower, Gn Block, Bandra-Kurla Netaji Subhas Road, Kolkata-700001
Complex, Bandra (East) Mumbai-400051
LIST OF PRACTISING MEMBERS REGISTERED FOR THE
Paradyne Infotech Limited 15 Months 5,000- PURPOSE OF IMPARTING APPRENTICESHIP TRAINING
801, Balarama, Bandra-Kurla Complex, Training 10,000 DURING THE MONTH OF SEPTEMBER, 2007
Bandra (East), Mumbai-400051
Provogue (India) Ltd. 15 Months Suitable RAMESH KUMAR SHIVNANI PCSA-1559
105/106, Provogue House, Training B-5, Om Shree Tower, Opp. J.P. Phatak
Off. New Link Road, Andheri (W) Near Lotus Dairy, Sahkar Marg
Mumbai-400053 Jaipur-302015
Pebble Bay Developers Pvt. Ltd. 15 Months Suitable SURENDRA MOHTA PCSA-1560
Raheja Chambers, Linking Road & Training 403, Royal World, S.C. Road
Main Avenue, Santacruz (West) Jaipur-302001
Mumbai-400054
PRAVEEN KUMAR JAIN PCSA-1561
Galleria Mall Developers Pvt. Ltd. 15 Months Suitable C-002, Vishal Appts., Gr. Floor
Raheja Chambers, Linking Road & Training Sr. M.V. Road, Andheri (E), Mumbai-400069
Main Avenue, Santacruz (West)
Mumbai-400054 PRASHANT DEVENDRA DIWAN PCSA-1562
Financial Technologies (India) Ltd. 15 Months 12,000- B-703/704, Anand Sagar, M.G. Road
601, Boston House, Suren Road Training 15,000 Kandivali (W), Mumbai-400067
Chakala, Andheri (East) KUMUDINI PARANJAPE PCSA-1563
Mumbai-400093 Laxmi CHSL, Bl. No. 2, Lane No. 1
Crest Animation Studios Limited 15 and 03 7,000- Gopal Nagar, Dombivli (East), Thane-421201
501, Reheja Plaza, L.B.S. Marg Months Practical 10,000 SANTOSH KUMAR BHADRA PCSA-1564
Ghatkopar (West), Mumbai-400086 Training
D-5/8, Purbasha Hsg Estate, 160
Stream Internatonal Services Pvt. Ltd. 15 Months 10,000 Manicktala Main Road, Kolkata-700054
Kamala Mills Compound, Building Training
'A', Senapati Bapat Marg, Lower Parel, MANISH KUMAR AGARWAL PCSA-1565
Mumbai-400013 A-418, II Floor, Street No. 1, Ganesh Nagar II
Allied Digital Services Ltd. 15 Months Suitable Shakarpur, Delhi-110092
3rd Floor, Kimmatrai Building Training SANKAR KUMAR PATNAIK PCSA-1566
77/79, Maharashi Karve Marg, 7A, Bentick Street, Suit No. 403
Marine Lines, Mumbai-400002 4th Floor, Kolkata-700001
K. Raheja Universal Pvt. Ltd. 15 Months Suitable SANJAY KUMAR AGGARWAL PCSA-1567
Raheja Centre-Point Training 14, New Punjab Mata Nagar, Near Tagore
294, C.S.T. Road, Near Mumbai
Vidhya Mandir, Pakhowade Road, Ludhiana
Student Company Secretary 48 November 2007
 SHIFTING OF STUDENT SERVICES SECTION
In order to provide Single Window Services to the students - in close co-ordination with the Directorate of Information Technology,
Directorate of Examinations and Directorate of Finance & Accounts - the Directorate of Student Services has been shifted from 17th
August, 2007 to a more spacious building located at Noida; which is one of the fully developed townships in the periphery of Delhi and also
home to some of the big names in the field of Information Technology / IT Enabled Services. In view of the above, effective from 17th
August, 2007 for all queries and services, students are advised to contact the following address: -

Joint Director (Student Services)

The Institute of Company Secretaries of India
C-37, Sector-62, NOIDA 201 301

Further, the contact numbers and E-Mail ids of the contact persons for various queries and services are furnished below. Students may
please note that, it is in their own interest to address the query to the right person for prompt response.

S. Nature of Query Contact Person Telephone Number E-Mail id

No. (STD Code :0120;
From Delhi : 95120)

1. Registration Status/ Issue of Study

Material, etc. for

(a) Intermediate Course Ms. Hema Malini/ 4239994-99 ss_reg@icsi.edu

Ms. Anju Gupta Extension 2022

(b) Foundation Course Ms. Kavita Amarjeet / 4239994-99 ss_fond@icsi.edu

Ms. Seema Kamboj Extension 2023

(c) Denovo/Extn./Final Enrolment Ms. Shobha Bhaskar/ 4239994-99 ss_post@icsi.edu

Ms. Harvinder Kaur Extension 2126

2. Paper-wise Exemption/ Non-receipt Mr. B S Chopra/ 4239994-99 ss_enrol@icsi.edu

of Registration Letter/ Identity Card/ Mr. Om Prakash Extension 2124/2131 ss_misc@icsi.edu
Student Company Secretary Bulletin/
CS Foundation Course Bulletin

3. Coaching Completion Certificates/ Mr. Vinod Jetly/ 4239994-99 ss_coaching@icsi.edu

Suggested Answers and Response Ms. Neelam Wadhwa Extension 2122/2128
Sheet Status / Compulsory Computer
Training

4. Issue of Admission Certificate for Mr. T P Balasubramanian/ 4239994-99 ss_lic@icsi.edu

Examinations Ms. Durga Shankar Extension 2123/2125
5. Duplicate Pass Certificiate
(a) Intermediate Mr. S P Singh/ Ms. Prem Lata 4239994-99 spsingh@icsi.edu
Extension 2129

(b) Foundation/ Final Ms. Durga Shankar/ 4239994-99 ss_lic@icsi.edu

Ms. Archana Goel Extension 2125

6. Transcripts/ Verification of Mr. S P Singh/ 4239994-99 ss_lic@icsi.edu

Qualifications (only for students) Ms. Durga Shankar Extension 2125/2129

In case of any difficulty, Shri Sohan Lal, Joint Director(Student Services) may be contacted at Tel. No. 4239993.
 COMPANY SECRETARIES EXAMINATIONS DECEMBER, 2007
TIME TABLE & PROGRAMME
MORNING SESSION AFTER-NOON SESSION
9.30 AM TO 12.30 PM 1.30 PM TO 4.30 PM
DATE AND
FINAL FOUNDATION INTERMEDIATE
DAY
26.12.2007 Advanced Company General and Commercial Laws
Regn. No. 42947/84

Wednesday Law and Practice

27.12.2007 Secretarial Practice relating to
Thursday Economic Laws and Drafting Company Accounts and Cost &
& Conveyancing Management Accounting

GROUP-I
Posting Date : 20/21-11-2007

28.12.2007 Secretarial, Management Tax Laws

GROUP-I
Friday and Systems Audit
29.12.2007 Financial, Treasury Management Information Systems
Saturdary and Forex Management & Corporate Communication
30.12.2007 Corporate Restructuring English and Business Company Law
Sunday Law and Practice Communication
31.12.2007 Banking and Insurance Basic Economics & Company Secretarial Practice

GROUP-II
Monday Law & Practice Business Environment
01.01.2008 World Trade Organisation
Tuesday International Trade, Financial Accounting Economic, Labour and Industrial Laws
Joint Ventures and
Foreign Collaborations GROUP-II
02.01.2008 Direct and Indirect Taxation Elements of Business Laws Securities Laws and Regulation
Wednesday Law and Practice and Management of Financial Markets

GROUP-III
03.01.2008 Human Resources Management and Information Systems and
Thursday Industrial Relations Quantitative Techniques

Delhi.

SECRETARIES OF INDIA
MODE OF PAYMENT
FOR PROMPT REPLY

Lodi Road, New Delhi-110003.

If undelivered, please return to:
correspondence for prompt reply.

favour of The Institute of Company

crossed demand draft drawn in

Secretaries of India, payable at New

the Institute may be remitted only by
All fees and other dues payable to

Licence No. U (C) 130/2006-08
Licensed to post without prepayment at N.D.P.S.O.
Delhi Postal Regn. No. DL(S)01/3167/2006-07-08

THE INSTITUTE OF COMPANY

ICSI House, 22, Institutional Area,

their Registration Number in all
Students are requested to quote