SCS 2007 11

Volume No.
XXIV
Student Company Secretary ISSN 0972-2874
November 2007
11
EDITORIAL CENTRAL COUNCIL ANNUAL SUBSCRIPTION Rs. 50
ADVISORY BOARD MEMBERS SINGLE COPY Rs. 5.00
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
M S Sahoo Ghanshyam Dass E-mail : info@icsi.edu
Narayanaswamy T V Hanumanta Raju Datla Website : http://www.icsi.edu
Nesar Ahmad Harish Kumar Vaid Printed at Daily Tej Pvt. Ltd.
Pradeep Kumar Mittal Lalit Bhasin 8-B, Bahadurshah Zafar Marg,
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.
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.

Academic Guidance
and communication technology (ICT) based solutions.
ACADEMIC GUIDANCE l Working group to be constituted to lay down the road-map
for cross-border supervision and supervisory cooperation with
SLRFM/FTFM overseas regulators, consistent with the framework
INTERMEDIATE/FINAL envisaged in the Basel Committee on Banking Supervision
(BCBS).
RBI GOVERNOR ANNOUNCES MID- l Besides general market risk, specific risk, especially the credit
TERM REVIEW OF ANNUAL POLICY risk arising out of deficient documentation or settlement risk
to be covered under the supervisory process.
FOR 2007-081 l Action plan to be drawn up for implementation of National
Dr. Y. Venugopal Reddy, Governor, RBI presented the Mid-term Electronic Clearing Service (NECS) with centralised clearing
Review of Annual Monetary Policy and Annual Statement on and settlement at Mumbai.
Developmental and Regulatory Policies for the Year 2007-08 on 30th Domestic Developments
October, 2007 in a meeting with Chief Executives of major commercial
banks. Some of the major highlights of the same are as under: 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
Highlights quarter a year ago.
l Bank Rate, Repo Rate and Reverse Repo Rate kept un- l The year-on-year (Y-o-Y) wholesale price index (WPI)
changed. inflation eased from its peak of 6.4 per cent on April 7,
l The flexibility to conduct overnight repo or longer term repo 2006 to 3.1 per cent by October 13, 2007.
including the right to accept or reject tender(s) under the l The average price of the Indian basket of international crude
LAF, wholly or partially, is retained. has increased to US $ 80.0 per barrel as on October 23,
l CRR increased by 50 basis points to 7.5 per cent effective 2007 from US $ 72.1 per barrel in July-September, 2007.
fortnight beginning November 10, 2007. l The Y-o-Y CPI inflation for industrial workers showed a
l GDP growth forecast retained at 8.5 per cent during 2007- sharp increase to 7.3 per cent in August 2007 as against
08, assuming no further escalation in international crude 6.3 per cent a year ago.
prices and barring domestic or external shocks l The Y-o-Y growth in money supply (M3) was higher at
l Inflation to be contained close to 5.0 per cent during 2007- 21.8 per cent on October 12, 2007 than 18.9 per cent a
08 while resolving to condition expectations in the range of year ago.
4.0-4.5 per cent, with a medium-term objective of inflation at l The Y-o-Y growth in aggregate deposits at Rs.5,69,061 crore
around 3.0 per cent. (24.9 per cent) was higher than that of Rs.3,88,528 crore
l Moderating net capital flows so that money supply is not (20.4 per cent) a year ago.
persistently out of alignment with indicative projection of 17.0- l Total credit exhibited a Y-o-Y growth of Rs.3,81,333
17.5 per cent. crore (23.3 per cent) as on October 12, 2007 on top of an
l Covering of Short-sale and When Issued transactions to increase of Rs.3,66,463 crore (28.8 per cent) a year ago.
be permitted outside the Negotiated Dealing System Order l The Y-o-Y growth in total resource flow from scheduled
Matching (NDS-OM) system. commercial banks (SCBs) to the commercial sector was 22.1
l Reinstatement of the eligible limits under the past per cent, over and above the growth of 28.0 per cent a year
performance route for hedging facility to be permitted. ago.
l Oil companies to be permitted to hedge foreign exchange l Banks holdings of Government and other approved securities
exposures by using overseas over-the-counter (OTC)/ increased to 30.0 per cent of their net demand and time
exchange traded derivatives up to a maximum of one year liabilities (NDTL) as on October 12, 2007 from 28.0 per cent
forward. at end-March 2007.
l Importers and exporters having foreign currency exposures l The overhang of liquidity under the LAF, MSS and the Central
to be allowed to write covered call and put options in both Governments cash balances taken together increased to
foreign currency/ rupee and cross currency and receive premia. Rs. 2,22,582 crore by October 24, 2007 from Rs. 85,770
crore at end-March 2007.
l Authorised Dealers (ADs) to be permitted to run cross
currency options books subject to the Reserve Banks l The Government of India, in consultation with the Reserve
approval. 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,
l ADs to be permitted to offer American options as well. 2007 and further to Rs. 2,00,000 crore on October 4, 2007.
l Working Group to be constituted for preparing a road-map l During the second quarter of 2007-08, financial markets
for migration to core banking solutions (CBS) by Regional remained generally stable with conditions of abundant
Rural Banks (RRBs). liquidity and interest rates moderated in almost all segments
l RRBs and State/ Central Cooperative Banks to disclose their of the financial system.
capital-to-risk weighted assets ratio (CRAR) as on March l During AprilOctober 2007, public sector banks (PSBs)
31, 2008 in their balance sheets. decreased their deposit rates, particularly at the upper end
l A road-map to be evolved for achieving the desired level of of the range for various maturities, by 25-60 basis points.
CRAR by these banks. l During April-October 2007, the benchmark prime lending
l High Level Committee to be constituted to review the Lead rates (BPLRs) of private sector banks moved from a range
Bank Scheme. of 12.50-17.25 per cent to 13.00-16.50 per cent.
l Financial assistance to RRBs for implementing information l The range of BPLRs for PSBs and foreign banks, however,
remained unchanged at 12.50-13.50 per cent and 10.00-
1. RBI Press Release : 2007-2008/589 15.50 per cent, respectively, during this period.

Academic Guidance
l The BSE Sensex increased from 13,072 at end-March 2007 Bank of China; the Bank of Korea; the Banco de Mexico;
to 19,243 on October 26, 2007. and the Banco Central de Chile.
l The gross market borrowings of the Central Government l A few central banks in Asia have used supplementary
through dated securities at Rs. 1,27,060 crore (Rs. 1,17,548 measures for tightening, besides increasing key policy rates.
crore a year ago) during 2007-08 so far (up to October 26) The only central bank that has kept policy rates steady is the
constituted 67.3 per cent of the budget estimates (BE) while Bank Negara Malaysia.
net market borrowings at Rs. 75,387 crore (Rs. 65,951 crore Overall Assessment
a year ago) constituted 68.7 per cent of the BE.
l Some positive elements in the global economy are (i) the
External Sector global economy is strong and resilient; (ii) EMEs, by and
l Merchandise exports rose by 18.2 per cent in US dollar terms large, have a better macro-environment than before; (iii)
during April-August 2007 as compared with 27.1 per cent in globally, corporate balance sheets are strong and less
the corresponding period of the previous year while import leveraged than in the past; (iv) large financial intermediaries
growth was higher at 31.0 per cent as compared with 20.6 are perhaps adequately capitalised to absorb the shocks of
per cent in the previous year. credit infirmities; and (v) the inflation environment has been,
l Non-oil imports rose by 44.3 per cent (10.9 per cent a year on the whole, benign.
ago); oil imports, however, slowed down to 6.0 per cent (44.5 l The global environment is fraught with uncertainties with
per cent), mainly on account of moderation in the price of international crude prices at new highs, having breached the
the Indian basket of crude oil by 0.5 per cent during April- level of US $ 90 per barrel while elevated food and metal
August 2007. prices would, in current circumstances, pass through to
l Indias foreign exchange reserves increased by US $ 62.0 domestic inflation.
billion during 2007-08 and stood at US $ 261.1 billion on l The US Federal Reserve has been the most aggressive in
October 19, 2007. terms of easing monetary policy, with a higher than expected
l The rupee appreciated by 10.3 per cent against the US dollar, rate cut, reflecting the concerns over impact of housing issues
by 2.4 per cent against the euro, by 5.4 per cent against the on consumption and, hence, growth.
pound sterling and 7.1 per cent against the Japanese yen l The most important issue for India is the possible impact of
during the current financial year up to October 26, 2007. global financial market developments and policy responses
Global Developments by central banks in major economies.
l The downside risks to the global economic outlook have l The immediate task for public policy in India, therefore, is to
increased from a few months ago, accentuated by the recent manage the possible financial contagion which is in an
financial market turmoil, firm inflationary pressures and high incipient stage with highly uncertain prospects of being
and volatile crude prices. resolved soon.
l On the domestic front, aggregate demand conditions have
l According to the IMFs World Economic Outlook (WEO)
remained firm and on the uptrend.
released in October 2007, the forecast for global real GDP
growth on a purchasing power parity basis has been retained l Key monetary aggregates, i.e., reserve money and money
at 5.2 per cent for 2007 as in the July 2007 update, down supply have been running well above initial projections,
from 5.4 per cent in 2006, but forecast for 2008 has been reflecting the impact of higher than expected deposit growth
revised down to 4.8 per cent in October from 5.2 per cent in and the exogenous expansionary effects of capital inflows
the July 2007 update. as well as the drawdown of fiscal cash balances.
l In the US, real GDP growth had risen to 3.8 per cent in the l The incomplete pass-through of international prices of crude,
second quarter of 2007 as compared with 2.4 per cent a metals, food and commodities in general to consumer prices
is indicative of suppressed inflation which carries destabilising
year ago. The IMFs October 2007 WEO expects the US
potential into the future.
economy to grow at 1.9 per cent in 2007 and 2008 as against
2.9 per cent in 2006. l The policy responses in the form of active liquidity
management operations to modulate expansionary monetary
l There was a sudden fall in credit market confidence in late
and financial conditions were reflected in a generally orderly
July brought on by the spread of risks from exposure to the evolution of market liquidity.
US sub-prime mortgages with credit crunch spreading into
corporate bond markets and equity markets. l Since late July, global financial markets have experienced
unusual volatility, strained liquidity and heightened risk
l The European Central Bank and the US Federal Reserve, aversion.
which have intervened since August 9 by providing liquidity
to the inter-bank market, were joined by central banks in l While the trigger was the rising default rates on sub-prime
mortgages in the US, the source of the problem was
Canada, Japan, Australia, Norway and Switzerland.
significant mis-pricing of risks in the financial system.
l Bank of England has provided liquidity support to a mortgage
l Easy monetary policy, globalisation of liquidity flows, wide-
lending bank, while giving a blanket guarantee to depositors
spread use of highly complex structured debt instruments
on the safety of their deposits. and inadequacy of banking supervision in coping with
l Several central banks have cut policy rates during the third financial innovations also contributed to the severity of the
quarter of 2007 after financial markets were significantly crisis.
affected by turbulence, such as the US Federal Reserve, l At the current juncture and looking ahead, on the domestic
the Banco Central do Brasil, Bank Indonesia (BI) and the front, the biggest challenge for monetary policy is the
Bank of Thailand. management of capital flows and the attendant implications
l The central banks that have tightened their policy rates for liquidity and overall stability.
include the European Central Bank; the Bank of England; l Yet another challenge is the rapid escalation in asset prices,
the Bank of Japan; the Bank of Canada; the Reserve Bank particularly equity and real estate, which are significantly
of Australia; the Reserve Bank of New Zealand; the Peoples driven by capital flows.

Academic Guidance
l Over the next twelve to eighteen months, risks to inflation Developmental and Regulatory Policies
and inflation expectations would also continue to demand Financial Markets
priority in policy monitoring.
l Non-Competitive Bidding Scheme in the Auctions of State
Stance of Monetary Policy Development Loans (SDLs) to be operationalised by March
l Real GDP growth in 2007-08 is placed at 8.5 per cent for 31, 2008.
policy purposes, as set out in the Annual Policy Statement l Re-issuance of SDLs in the second half of 2007-08.
of April 2007 and reiterated in the First Quarter Review.
l The facility of new issuance structure for floating rate bonds
l Policy endeavour would be to contain inflation close to 5.0 (FRBs) is being built into the new Negotiated Dealing System
per cent in 2007-08 and the resolve, going forward, would (NDS) auction system being developed by the Clearing
be to condition expectations in the range of 4.0-4.5 per cent Corporation of India Limited (CCIL).
so that an inflation rate of 3.0 per cent becomes a medium- l The Reserve Bank is committed for permitting market repos
term objective. in corporate bonds, once the corporate debt markets develop
l Moderating the expansionary effects of net capital flows is and the Reserve Bank is assured of availability of fair prices,
warranted so that money supply is not persistently out of and an efficient and safe settlement system based on delivery
alignment with the indicative projections. versus payment (DvP) III and Straight Through Processing
l The Reserve Bank will continue with its policy of active (STP) is in place.
demand management of liquidity through appropriate use of l Covering of Short-sale and When Issued transactions to
the CRR stipulations and open market operations (OMO) be permitted outside the Negotiated Dealing System Order
including the MSS and the LAF, using all the policy Matching (NDS-OM) system.
instruments at its disposal flexibly, as and when the situation l Systemically important non-deposit taking NBFCs (NBFC-
warrants. ND-SI) to be considered as qualified entities for accessing
l Barring the emergence of any adverse and unexpected the NDS-OM using the Constituents Subsidiary General
developments in various sectors of the economy and keeping Ledger (CSGL) route.
in view the current assessment of the economy including l The facility of permitting all exporters to earn interest on their
the outlook for inflation, the overall stance of monetary policy Exchange Earners Foreign Currency (EEFC) accounts to
in the period ahead will broadly continue to be: the extent of outstanding balances of US $ 1 million per
To reinforce the emphasis on price stability and well- exporter is extended up to October 31, 2008 and banks are
free to determine the rate of interest.
anchored inflation expectations while ensuring a
monetary and interest rate environment that supports l Reinstatement of the eligible limits under the past
export and investment demand in the economy so as to performance route for hedging facility provided that
enable continuation of the growth momentum. supporting underlying documents are produced during the
term of the hedge undertaken.
To re-emphasise credit quality and orderly conditions in
financial markets for securing macroeconomic and, in l Oil companies to be permitted to hedge their foreign
particular, financial stability while simultaneously pursuing exchange exposures to the extent of 50 per cent of their
greater credit penetration and financial inclusion. inventory volume as at the end of the previous quarter by
using overseas over-the-counter (OTC)/ exchange traded
To respond swiftly with all possible measures as derivatives up to a maximum of one year forward.
appropriate to the evolving global and domestic situation
l Importers and exporters having foreign currency exposures
impinging on inflation expectations, financial stability and
to be allowed to write covered call and put options in both
the growth momentum.
foreign currency/ rupee and cross currency and receive
To be in readiness to take recourse to all possible options premia.
for maintaining stability and the growth momentum in l Authorised Dealers (ADs) to be permitted to run cross
the economy in view of the unusual heightened global currency options books, subject to the Reserve Banks
uncertainties, and the unconventional policy responses approval.
to the developments in financial markets.
l ADs to be permitted to offer American options as well.
Monetary Measures
Credit Delivery
l The Bank Rate has been kept unchanged at 6.0 per cent.
l Internal Working Group to be constituted to examine the
l The repo rate under the LAF is kept unchanged at 7.75 per recommendations of the Committee on Agricultural
cent. Indebtedness (Chairman: Dr. R. Radhakrishna) relevant to
l The reverse repo rate under the LAF is kept unchanged at the banking system in general and the Reserve Bank, in
6.0 per cent. particular.
l The Reserve Bank has the flexibility to conduct repo/reverse l Working Group to be constituted with representatives from
repo auctions at a fixed rate or at variable rates as the Reserve Bank, the NABARD, sponsor banks and RRBs
circumstances warrant. for preparing a road-map for migration to core banking
l The Reserve Bank retains the option to conduct overnight or solutions (CBS) by RRBs.
longer term repo/reverse repo under the LAF depending on l RRBs and State/ Central Cooperative Banks should disclose
market conditions and other relevant factors. The Reserve the level of CRAR as on March 31, 2008 in their balance
Bank will continue to use this flexibility including the right to sheets. A road-map may be evolved for achieving the desired
accept or reject tender(s) under the LAF, wholly or partially, level of CRAR by these banks.
if deemed fit, so as to make efficient use of the LAF in daily l Working Group to be constituted to study the
liquidity management. recommendations of Sengupta Committee report on
l CRR increased by 50 basis points to 7.5 per cent effective Conditions of Work and Promotion of Livelihood in the
fortnight beginning November 10, 2007. Unorganised Sector relevant to the financial system and

Academic Guidance
suggest an appropriate action plan for implementation of laundered money and to deal with any other issue connected with
acceptable recommendations. money laundering in India.
l High Level Committee to be constituted to review the Lead The Act provides that whosoever directly or indirectly attempts to
Bank Scheme. indulge or knowingly assists or knowingly is a party or is actually
l Proposed to prepare a concept paper on financial literacy- involved in any process or activity connected with the proceeds of
cum-counseling centres detailing the future course of action. crime and projecting it as untainted property, shall be guilty of offences
of money-laundering.
l Financial assistance to RRBs for implementing information
and communication technology (ICT) based solutions, For the purpose of money-laundering, the PMLA identifies certain
including installation of solar power generating devices for offences under the Indian Penal Code, 1860, the Narcotic Drugs and
powering ICT equipment in remote and under-served areas. Psychotropic Substances Act,1985 the Arms Act, 1959 the Wild Life
(Protection) Act,1972 the Immoral Traffic (Prevention) Act,1956 and
Prudential Measures the Prevention of Corruption Act, 1988 the proceeds of which would
l Final guidelines on Credit Default Swaps would be issued be covered under this Act.
by end-November 2007. Financial Intelligence Unit (FIU) is a central agency of a government
l Banks are urged to follow prescribed specific considerations that receives financial information pursuant to countrys anti-money
while engaging recovery agents. Abusive practices followed laundering laws, analyzes and processes such information and
by banks recovery agents would invite serious supervisory disseminates the information to appropriate national and international
disapproval. authorities, to support anti-money laundering efforts.
l Constitution of a working group to lay down the road-map The Financial Intelligence Unit, India (FIU-India) has been set up
for adoption of a suitable framework for cross-border as a multi-disciplinary unit for establishing links between suspicious
supervision and supervisory cooperation with overseas or unusual financial transactions and underlying criminal activities.
regulators, consistent with the framework envisaged in the It coordinates and supports efforts of national and international
Basel Committee on Banking Supervision (BCBS). intelligence, investigation and enforcement agencies in pursuing the
l In order to enhance the effectiveness of the banking global efforts against money laundering and related crimes. The FIU-
supervisory system, the process of consolidated supervision IND is the central nodal agency responsible for receiving, processing,
to be integrated with the financial conglomerate monitoring analyzing and disseminating information relating to suspect financial
mechanism for bank-led conglomerates. transactions to these agencies who shall protect the information against
l It is proposed to cover, besides general market risk, specific misuse. Through its research and analysis functions, it monitors and
risk, especially the credit risk arising out of deficient identifies strategic key areas on money laundering trends, methods
documentation or settlement risk, under the supervisory and developments.
process. As per the provisions of the PMLA, every intermediary (which
Institutional Developments includes a stock-broker, sub-broker, share transfer agent, banker to
an issue, trustee to a trust deed, registrar to an issue, merchant banker,
l Banks are urged to ensure that adequate disaster recovery underwriter, portfolio manager, investment adviser and any other
systems are put in place to fully comply with the requirements. intermediary associated with securities market and registered under
l Banks are urged to draw up time-bound action plans for section 12 of the Securities and Exchange Board of India Act, 1992),
implementation of CBS across all their branches. shall have to maintain prescribed records.
l An action plan to be drawn up for implementation of National The PMLA 2002 and rules notified there under also impose
Electronic Clearing Service (NECS) using the existing obligation on intermediaries to verify the identity of clients, maintain
infrastructure of National Electronic Funds Transfer (NEFT) records and furnish information to FIU-IND.
system with centralised clearing and settlement at Mumbai. PMLA 2002 defines money laundering offence and provides for
l Working group to be constituted comprising representatives the freezing, seizure and confiscation of the proceeds of crime.
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 GENERAL AND COMMERCIAL LAWS
UCBs.
STANDARD ARBITRA
STANDARD TION CLAUSES3
ARBITRATION
l The Committee on Financial Sector Assessment (CFSA)
(Chairman: Dr.Rakesh Mohan; Co-Chairman: Dr. D. The dispute resolution mechanism which is alternative to legal or
Subbarao) submitted an interim report delineating its judicial process has now become very popular among business
approach and reviewing the progress of work to the Finance organizations. Such mechanism is popularly known as Alternative
Minister and Governor, Reserve Bank of India in July 2007. Dispute Settlement (ADR). The techniques of ADR including arbitration
The CFSA is expected to complete the assessment by March are not alien to the justice dispensing system in India.
2008 and lay out a road-map for further reforms in a medium- From time immemorial we have seen different types being adopted
term perspective. 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
SLRFM Arbitration mostly to settle disputes in the commercial contracts.
However, the same has received a impetus with the enactment of
INTERMEDIATE Arbitration and Conciliation Act, 1996. Further, the amendment to CPC
PREVENTION OF MONEY in the year 1999 providing for settlement of disputes outside the court,
have made the ADR movement in India more intense and purposeful.
LAUNDERING ACT
ACT,, 2002- AN OVERVIEW2
OVERVIEW Resolution of disputes, alternative to the resolution through courts is
The Prevention of Money-laundering Act, 2002 (PMLA) aims at the requirement of the present day market economy.
combating money laundering in order to prevent and control money For the information of the students here in below are given some
laundering, to confiscate and seize the property obtained from model arbitration clauses suggested by various National/International
2. Prepared by Lakshmi Arun, Education Officer, The ICSI. 3. Compiled by Archana Kaul, Assistant Director, The ICSI.

Academic Guidance
Arbitration Institutions. Such model clauses can be used by the parties Model Arbitration Clauses in International Commercial
in their contract who are concerned with commercial and other national Arbitration
and international transactions. Standard International Chamber of Commerce, Paris
Indian Council of Arbitration (ICA) Clause of Arbitration (ICC) Arbitration Clause
All disputes or differences whatsoever arising between the parties The International Chamber of Commerce (ICC) recommends that
out of or relating to the construction, meaning and operation or effect all parties wishing to make reference to ICC arbitration in their
of this contract or the breach thereof shall be settled by arbitration in contracts use the following standard clause.
accordance with the Rules of Arbitration of the Indian Council of All disputes arising in connection with the present contract shall
Arbitration and the award made in pursuance thereof shall be binding
be finally settled under the Rules of Conciliation and Arbitration of the
on the parties.
International Chamber of Commerce by one or more arbitrators
Indian Society of Arbitrators (ISA) Clause appointed in accordance with the said Rules.
Indian Society of Arbitrators (ISA), a non-profitable Society for the The parties may also wish to stipulate the law governing the contract,
promotion and development of Arbitration and ADR techniques has the number of arbitrators and the place and language of the arbitration.
drafted the following model arbitration/conciliation clause which it
recommends to all concerned with commercial and other national and We recommend that whenever the ICC model clause is used, it
international transactions to include in the contract. should be amended as follows:
Any and all disputes or differences whatsoever arising between 1. The words Conciliation and should be removed because they
the parties out of or relating to the construction, meaning or the are misleading. If conciliation is desired, it should be set out in a
performance or effect of the contract or breach thereof shall be subject separate clause, perhaps as a required stop prior to arbitration.
to arbitration/conciliation/mediation by the Indian Society of Arbitrators, But where it is not desired, there should be no confusion as to a
New Delhi under its Arbitration and Conciliation Rules and the award partys right to initiate arbitration without any prior attempts at
rendered by the Arbitrator/Conciliator/Mediator shall be final and binding formal conciliation.
on the parties. The venue of arbitration/conciliation/mediation shall be 2. The words one or more arbitrators should, if possible, be re-
fixed by the Court of Arbitration unless agreed to by the parties. All duced to a positive choice, of a sole arbitrator or three arbitra-
provisions of the Arbitration and Conciliation Act, 1996 as amended tors.
from time to time shall be applicable.
To ensure that the clause is as widely drawn as possible, the phrase
The Arbitration Clause suggested by the Committee on controversies or claims (used in the UNCITRAL model clause) may
Commercial Arbitration be added after disputes, so as to neutralize any argument as to arbitral
All matters, questions, disputes or differences whatsoever arising jurisdiction over undisputed claims and collateral issues, such as fraud.
between the parties touching the construction, meaning, operation or UNCITRAL
effect of the contract or court of or relating to the contract or breach
thereof, shall be settled by arbitration. Any dispute, controversy or claim arising out of or relating to this
contract, or the breach, termination or invalidity thereof, shall be settled
(a) in accordance with the rules of the.. (name of the by arbitration in accordance with the UNCITRAL Arbitration Rules as
Tribunal), or at present in force.
(b) in the country of the defendant. If the arbitration is to be held in Parties may wish to consider adding:
India the dispute shall be settled in accordance with the rules of
the.(name of the Tribunal) and if it is to be held (a) The appointing authority shall be...(name of institution
in(name of the country) it shall be conducted in accord- or person);
ance with the rules of..(name of the Tribunal), or (b) The number of arbitrators shall be.(one or three);
(c) by reference to single arbitrator in case the parties agree upon (c) The place of arbitration shall be...(town or country);
one and in the absence of such agreement to a single arbitrator (d) The language(s) to be used in the arbitral proceedings shall
to be appointed by.(name of the appointing authority). be..
The arbitration shall be conducted at.(give name of
If the parties wish the appointing authority to be the ICC, the
the country or state the method for determining the venue), or
appropriate wording (which is recommended by the ICC to deal with
(d) by two arbitrators one to be appointed by each party to the dis- the special features of the ICCs internal structure) should instead of
pute and the arbitrators shall, before taking upon themselves the sub-clause (a) above, be as follows :
burden of reference appoint an umpire. If the arbitrators cannot
The appointing authority shall be the ICC acting in accordance
agree on the appointment of the umpire, the umpire who shall be with the rules adopted by the ICC for this purpose.
of a nationality other than that of the parties shall be appointed
by.(name of the appointing authority). The arbitration Consideration may be given to varying the UNCITRAL Rules (which
shall be conducted at..(give name of the country or absolutely require majority awards) by providing as follows:
state the method for determining the venue), or Where three arbitrators have been appointed, the award will be
(e) by reference to three arbitrators, one to be appointed by each given by the Chairman of the arbitral tribunal alone.
party to the dispute and the third who shall be of a nationality International Centre for Settlement of Investment
other than that of the parties shall be appointed by.(name Disputes (ICSID)
of the appointing authority). The arbitration shall be conducted The parties hereto consent to submit to the International Centre
at(give name of the country or state the method for for Settlement of Investment Disputes, any dispute relating to or arising
determining the value). out of this Agreement for settlement by arbitration pursuant to the
Judgement upon the award rendered may be entered in any court Convention on the Settlement of Investment Disputes between states
having jurisdiction or otherwise application may be made to such court and Nationals of Other States.
for a judicial acceptance of the award and an order of enforcement as The ICSID mechanism is complex. In fact, ICSID itself has issued
the case may be. The award shall be final and binding on the parties. a special publication (Doc ICSID 5 Riv. 1) containing a number of
This contract shall be governed by the laws of.. (name highly refined additional model clauses adapted to different
of the country). circumstances (consent in anticipation of subsequent ratification by a

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.

Legal World
to ensure that what is put forward is not a ruse to dispose of the assets
LEGAL WORLD of the company in liquidation.
Compiled by T.K.A. Padmanabhan, FCS, Advocate, New Delhi. The proposed modifications altered the position of the shareholders
vis--vis the company. Instead of the company reviving the spinning
CORPORATE LAWS 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,
LW(S) 66.11.2007 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
MEGHAL HOMES (P.) LTD. v. SHREE NIWAS GIRNI K.K.SAMITI that property. That could not be considered to be a modification in the
[(2007) 78 SCL 482 (SC)], G.P.Mathur & P.K.Balasubramanyan, JJ. scheme necessary for the proper working of the compromise or
[Decided on 24.08.2007] arrangement. That was a modification of the scheme itself. Same was
Companies Act, 1956-Section 391- Scheme for revival- Court the position regarding the provision of replacing the resolution passed
modifies the scheme- Power of the court to modify a scheme- that if any surplus amounts were available, the company would start a
Whether court has power to modify a scheme in such a manner viable industry in any part of the State of Maharashtra a commitment
that the nature of the proposed scheme itself changed- Held, No. that S would establish an industry in any part of the State on an
Brief facts: M/s.Shreeniwas Cotton Mills Ltd (SCML) was ordered investment of Rs.20 crores. That again was an obligation cast on the
to be wound up under section 433 by the Company Court on members of the company and that could not also be taken to be a
25-7-1984. A decade thereafter, the Official Liquidator of SCML issued modification, which the Court could bring about on its own under section
a public notice inviting offers for the revival of the mill. A contributory 391 on the pretext that it was a modification necessary for the proper
RS filed an application proposing a scheme of revival, under section working of the compromise or arrangement. In any event, the Division
391, before the Company Court. The company court directed holding Bench of the High Court ought to have directed reconvening of the
of class meetings and the scheme was approved by the shareholders, meeting of the members of the company in terms of section 391 to
creditors and workers. Consequently, an application for sanctioning consider the modifications and ensured that the approval thereof by
the scheme was filed. However, before the same could be considered the requisite majority existed. Therefore, it was a fit case where the
by the Company Court, the Division Bench of the High Court set aside decision of the Division Bench as also of the Company Court should
the Company Courts order calling the class meetings and, be set aside and the proceedings were to be remanded to the Company
consequently; the application for sanctioning the said scheme was Court.
also dismissed. LW(S) 67.11.2007
On direction of the Division Bench of the High Court, the Company VINOD BAID v. STATE OF AP & ANR [(2007) 139 Comp Cas 324
Court assigned the task of preparing the feasibility report on the revival (AP)], Ramesh Ranganathan, J. [Decided on 24.10.2006]
of the company to an expert body, which made its recommendations Companies Act, 1956-Section 113- Non-delivery of share
to the effect that it was not possible to restart the entire mill and only a certificates- Complaint filed after one year- Whether the complaint
section of its spinning division could be restarted and operated as is barred by limitation- Held, Yes. Whether the offence is a
viable. Subsequently, a memorandum of understanding (MoU) was continuing one - Held, No.
executed between the shareholders, the Sgroup, which was the
majority shareholders of the company, and Lone builder company, Brief facts: A criminal complaint was filed against the petitioner
whereby it was, inter alia, agreed between the parties that L would and other directors under section 113(1) and (2) of the Companies
pay Rs.97.50 crores in consideration of getting the right to develop Act, 1956. The petitioner sought to quash the proceedings against
the companys properties and that if any additional funds were required him by filing a petition under section 482 of the Cr.P.C. contending
for settling the companys affairs, the same would have to be brought that (i) the complaint was filed beyond the period of limitation prescribed
by the company itself. Based on that MoU, some members of S group under section 468 of the Cr.P.C. and (ii) the offence under section 113
filed application seeking directions from the Company Court for was not a continuing offence as defined under section 472 of the Cr.P.C.
convening a meeting to consider the amended scheme. The application Decision: Petition allowed.
was allowed and the amended scheme was approved at the meeting. Reasons : The period of limitation, under section 468(2)(a) of the
On petition seeking sanction of the scheme, the Company Court Cr.P.C. is six months, and as the complaint was filed more than one
dismissed the same on the ground that the scheme presented was year after the date of knowledge, no cognizance could have been
not a scheme for revival, but it was, in substance, disposal of the taken of the offence since it was barred by limitation.
companys assets which vested in the Official Liquidator. On appeal,
the Division Bench of the High Court set aside the order of the company The liability under section 113(1) did not continue until the rule, or
court and sanctioned the scheme with certain modifications. Several its requirement was obeyed or complied with. The offence, on the
appeals were filed by different parties to the Supreme Court. 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.
Decision: Appeal allowed. There was no continuing obligation even after expiry of the time limit.
Reason: When a company is ordered to be wound up, its assets Section 113(2), which prescribes the penalty, is intended to enforce
are put in possession of the Official Liquidator. The assets become strict compliance with the requirement of section 113(1) under the
custodia legis. The follow up, in the absence of a revival of the company, threat of continuous penalty. The offence under section 113(1) was
is the realization of the assets of the company by the Liquidator and not repeated or committed day to day after the initial default and could
distribution of the proceeds to the creditors, workers and contributories not therefore be said to be a continuing offence attracting the provisions
of the company, ultimately resulting in the death of the company by an of section 472 of the Code of Criminal Procedure.
order under section 481 being passed. But, nothing stands in the way Since the penalty prescribed for violation of section 113(1) of the
of the Company Court, before the ultimate step is taken or before Act was fine of Rs.500 for each day during which the default continues,
assets of the company in liquidation are disposed of, to accept a even if the period of limitation was calculated from the date of
scheme or proposal for revival of the company. In that context, the knowledge under section 469(1) (b) of the Code, cognizance could
Court has necessarily to see whether the scheme contemplates revival not have been taken beyond six months in view of the bar in taking
of the business of the company, makes provisions for paying off cognizance under section 468(2) (a) of the Code.
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. LW(S) 68.11.2007
Of Course, the Court has to see to the bona fides of the scheme and DINESH KUMAR JHUNJHUNWALA v. KARUR VYSYA BANK LTD.

Legal World
[(2007) 79 SCL 227 (MAD)], N.Paul Vasanthakumar, J [Decided on Service tax- Tax on services rendered by professionals-
10.08.07] Whether constitutional- Held, Yes.
Companies Act,1956- Section 150-members register-members Brief facts: The instant appeal was filed by the appellant before
name included in the depositorys register- CLB directing the Supreme Court challenging the legislative competence of the
furnishing of members register sans depository members- Parliament to levy service tax on practising chartered accountants,
Whether tenable-Held, No. cost accountants and architects under Article 246(1), read with Entry
Brief Facts: The appellant was a member of the respondent- 97 of List I of the Seventh Schedule to the Constitution on the ground
company. He applied for the extracts of register of members. The that word Profession in Entry 60 of List II is nothing but service and,
respondent refused to give the same. The appellant filed company therefore, levy of service tax came within the competence of State
petition before the CLB with a prayer to direct the company for an Legislature alone.
inspection and for issuing of extracts of its register of members. The Decision: Appeal dismissed.
respondent resisted the petition contending that the appellant had Reason: The source of the concept of service tax lies in economics.
stated that he would not be in a position to come for the inspection It is an economic concept. It has evolved on account of service industry
and, therefore, he had no right to claim extracts of its register of becoming a major contributor to the GDP of an economy, particularly
members in terms of section 163(2). The respondent also contended knowledge-based economy. With the enactment of the
that in terms of section 11 of the Depositories Act, 1996, the register Finance Act, 1994, the Central Government derived its authority from
of beneficial owners is maintained only by a depository and once the the residuary Entry 97 of the Union List for levying tax on services.
names of the depositories are entered in the register of members, the The legal back up was further provided by the introduction of Article
said register is complete in respect of the shares issued by the 268A in the Constitution, which stated that taxes on services shall be
company, fulfilling the requirements of section 150. The CLB even charged by the Central Government and appropriated between the
though held that the right to seek copy of the register of members is Union Government and the States. Simultaneously, a new Entry 92C
available only to the members, who inspected the register, yet did not was also introduced in the Union List for the levy of service tax. As an
decline the prayer of the appellant considering his old age and directed economic concept, there is no distinction between the consumption
the company to furnish an extract of its register of members, maintained of goods and consumption of services as both satisfy human needs.
in accordance with section 150, which would, however, not include the Further, service tax is a value added tax which in turn , is a general
list of beneficial owners of shares of company. The appellant tax which applies to all commercial activities involving production of
challenged the direction given by the CLB for not including the list of goods and provision of services. Moreover, VAT is a consumption tax
beneficial owners of the shares of the company in the membership list as it is borne by the client. Thus, service tax is VAT which, in turn, is
before the High Court. both a general tax as well as destination based consumption tax leviable
Decision: Appeal allowed. on services provided within the country.
Reason: The definition of member includes beneficial owner, Entry 60, List II refers to taxes on professions etc. It is tax on the
whose name is entered in the records of the depository, and he shall individual person/firm or company. It is the tax on the status. A chartered
be deemed to be the member of the concerned company with effect accountant or a cost accountant obtains a license or a privilege from
from 20.9.1995. The respondent could not contend that the register the competent body to practice. On that privilege as such the State is
of members to be maintained under section 150 will not cover the competent to levy a tax under Entry 60 of List II. However, Entry 60 of
beneficial owner, whose name is entered in the records of the List II is not a general entry. It cannot be read to include every activity
depository. Section 163 mandates the company to keep the register undertaken by a chartered accountant/cost accountant/architect for
and returns for inspection. Hence, the order passed by the CLB consideration. Service tax is a tax on each activity undertaken by a
directing the respondents to furnish the list of members and extract of chartered accountant/cost accountant or an architect. The cost
register of its members, excluding the list of beneficial owners of the accountant/chartered accountant/architect charges his client for advice
shares of the bank was unsustainable, as the same was contrary to or for auditing of accounts. Similarly, a cost accountant charges his
section 41(3) and also in violation of section 152A. client for advice as well as doing the work of costing. For each
If the interpretation given by the CLB is to be accepted, the insertion transaction or contract, the chartered accountant/cost accountant
of section 41(3) would be rendered meaningless. Thus, it is clear that renders professional based services. The activity undertaken by the
after enactment of the Depositories Act, 1996, the membership of a chartered accountant or the cost accountant or an architect has two
company got widened and the beneficial owners, whose names are aspects. From the point of view of the chartered accountant/cost
entered in the records of the depository, shall also be deemed to be accountant, it is an activity undertaken by him based on his performance
the members of the concerned company. 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
The member of the company is defined without any ambiguity in services. The activity undertaken by the chartered accountant or cost
the Companies Act, 1956 and the intention of the Legislature shall not accountant is similar to saleable or marketable commodities produced
be given a narrow interpretation as argued by the respondent. Hence, by the assessee and cleared by the assessee for home consumption
it was not open to the respondent-bank to contend that it would maintain under the Central Excise Act. For each contract, tax is for home
a list of members, excluding the beneficial owners, whose names were consumption under the Central Excise Act. For each contract, tax is
found in the records of the depository. Therefore, the direction given levied under the Finance Acts, 1994 and 1998. Tax cannot be levied
by the CLB, which was questioned by the appellant, deserved to be under that Act without service being provided, whereas a professional
quashed and, accordingly, the same is set aside. The respondent is tax under Entry 60, of List II is a tax on his status. It is the tax on the
bound to furnish copy of all members of the company and not in status of a cost accountant or a chartered accountant. As long as a
exclusion of the beneficial owners, whose names were found in the person/firm remains in the profession, he/it has to pay professional
register of depository. tax. That tax has nothing to do with the commercial activities which he
undertakes for his client. Even if the chartered accountant has no
TAX LAWS 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
LW(S) 69.11.2007 ambit and scope of Entry 60, List II which is a taxing entry. Entry 60
ALL INDIA FEDERATION OF TAX PRACTITIONERS v. UNION OF List II refers to Tax on employments. There is no merit in the contention
INDIA [(2007) 10 STT 166 (SC)], S.H.Kapadia & B. Sudershan Reddy, advanced by the appellant that the widest possible interpretation should
JJ. [Decided on 21.08. 2007] be given to the word profession in Entry 60, List II. One has to keep

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

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 ATTENTION-STUDENTS
Court decision.
The appeal is and section 43B (f) is to be struck down being arbitrary,
INTERMEDIATE COURSE
INTERMEDIATE
unconscionable and dehors the Apex Court decision in Bharat Earth TAX LAWS-2007 SERIES (STUDY MATERIAL)
Movers (supra). Some inadvertent errors have crept in the printed copy of the study
material. Students may update their study material as per the errata
THE COMPETITION ACT ACT,, 2002 given below:
IELIL-INTERMEDIATE/FSPELDC-FINAL ERRATA
The students are informed that the following Sections of the 1. ON PAGE iii. LAST PARA-FIRST LINE : Read , ".... Assessment
Competition Act, 2002 are applicable for December, 2007 examination: Year for June 2008 and December 2008.." instead of "... Assess-
Short Title, Extent and Commencement (Section 1), Definitions ment year for June 2008 and December 2009."
(Section 2) Establishment of Commission (Section 7) Composition 2. In Test Paper 1/2007(Optional), Page: 761Question No. 3: For
of Commission (Section 8), Selection of Chairperson and Other
Marks: read as 4 marks each instead of 5 marks each
Members (Section 9), Terms of Office of Chairperson and Other
Members (Section 10), Resignation, Removal and Suspension of 3. In Test Paper 2/2007(Optional), Page: 764 Question No.
Chairperson and other members (Section 11); Restrictions on 2:For Marks: read as 16 marks instead of 20 marks
Employment of Chairpersons etc. (Section 12), Financial and
Administrative Powers of Member-Admininstration (Section 13) 4. In Test Paper 3/2007(Compulsory), Page 765, add the following
Salary etc. of Chairperson and Other Members (Section 14), sentence after Part A (Attempt ANY FOUR questions from this
Vacancy etc. not to invalidate proceedings of Commission (Section part including Q.1 which is Compulsory). In page 766,add the
15) Appointment of Director General (Section 16), Registrar and following sentence ,after Part B : (Answer any TWO questions
Officers of Commission (Section 17), Benches of Commission
(Section 22), Distribution of Business of Commission (Section 23), from this part).
Appearance before Commission (Section 35), Competition Advocacy In page 766 For Marks
(Section 49), Finance, Accounts and Audit (Sections 50, 51, 52 and
53), Miscellaneous (Section 54, 55, 56, 57, 58, 59, 60, 61, 62, 63 Read marks for Q. 6(a): 5 Marks, Q. 6(b): 5 Marks, Q. 6(c): 5
Section 64 and 65. Marks, Q. 6(d): 5 Marks,
Students are advised to refer these Sections if any question is Read marks for Q. 7(a): 6 Marks, Q. 7(b): 7 Marks, Q. 7(c): 7
posed on the Competition Act, 2002. A comparison of the provisions Marks,
of the MRTP Act, 1969 and the provisions of the Competition Act,
2002 is desirable to highlight the changes inserted by the Read marks for Q. 8 (a) : 7 Marks, Q. 8 (b): 6 Marks, Q. 8 (c): 7
Competition Act, 2002. Marks,
Since all the Sections of the Competition Act, 2002 have not In Test Paper 4/2007(Compulsory), page 769, add the following
come into force till now, the students may refer to provisions of sentence, after Part B (Answer any TWO questions from this
MRTP Act, 1969. However, credit will be given to the students if
they also refer the provisions of the Competition Act, 2002, while part).
answering the question based on MRTP Act, 1969. Page 769 for Marks
Read marks for Q. 6(a) :7 Marks, 6(b): 6 Marks, 6(c): 7 Marks,
STUDENTS QUIZ Read marks for Q. 7(a) :7 Marks, 7(b): 7 Marks, 7(c): 6 Marks,
PRIZE QUERY
In Test Paper 5/2007(Compulsory), page 771, add the following
A reference was pending before the BIFR against a sick
sentence after Part B: (Answer any TWO questions from this
industrial company. The said company did not refund the
matured deposits to the depositors. The depositors part)
approached the Company Law Board for getting redressal for Page 771 for Marks
their grievances. Can the Company Law Board entertain their
petition?
CONDITIONS
Read marks for Q. 8(a) :7 Marks, 8(b): 6 marks, 8(c): 7 Marks,
1. Answer should not exceed one page typed in double space.
The answer sheet should contain the name, registration number At the end of Page 771 after Q.No.7(a) insert the following:
and address of the student. Q7(b): Explain Assessable value for job work under Central Excise
2. Last date for receipt of answer is 16th December, 2007. Law. (7 Marks)
3. Two prizes (a first and a second) in kind will be awarded to the Q7(c): Write short note on Cenvat Credit Rules, 2004. (6 Marks)
best answers and the names of the contributors will be published Q8(a): Who is liable to pay Excise Duty? Explain briefly the payment
in the Bulletin.
procedures of such duties.(7marks)
4. The envelope should be superscribed Students Query,
Q8(b): What is the procedure for referring a case to the High Court
November 2007 and addressed by name to N.K. Jain,
from CESTAT?(6 Marks)
Secretary & Chief Executive Officer, The Institute of Company
Secretaries of India, ICSI House, 22, Institutional Area, Lodi Q8(c): Explain the reasons for prohibiting imports/exports of Goods
Road, New Delhi-110003. under Section 11 of the Customs Act, 1962. (7 Marks)

Student Services
signatures from time to time.
STUDENT SERVICES All the students are, therefore, advised to maintain uniformity in
their signatures on all the correspondence with the Institute including
REGISTRATION AND POSTAL TUITION students identity card, enrollment application and attendance sheet
1. Cancellation of Registration provided in the examination hall at the time of writing examinations.
Registration of students registered upto and including November, 6. Compulsory Enrolment for Final Course
2007 stands terminated on expiry of five-year period on 30 th Students who have passed/completed both groups of Intermediate
NOVEMBER, 2007 leading to the following immediate consequences: examination are advised to seek compulsory enrolment for undergoing
(a) Supply of Student Company Secretary bulletin will be dis- coaching for the Final course on payment of Rs.4200/- towards postal
continued from December, 2007 onwards. tuition fee.
(b) Response sheets will not be accepted even if submitted and Please note that a student is admitted to the final examination only
coaching completion certificates will not be issued (after the after a minimum period of nine calendar months has elapsed since
expiry of registration period) his/her passing the Intermediate examination and subject to completion
of coaching and fulfillment of other requirements.
(c) They are advised to apply for registration de novo/extension
of registration as per the guidelines published in this bulletin. 7. Issue of Admission Certificates for December, 2007
Examination
(Students whose registration is valid upto August, 2007 are however,
eligible to appear in December, 2007 examination without seeking The admission certificates for December, 2007 examination to all
extension of registration/ registration de-novo subject to fulfilling other the eligible students would be dispatched by ordinary post by 30th
requirements as laid down in the regulations.) November, 2007. The Admit Card Extracts are also available in the
website of the Institute viz. www.icsi.edu since 10th November, 2007.
2. Change of Address
All the students are hereby advised to carefully check up the
Change of address, if any, should be intimated to the Institute by
particulars viz. Name ,Regn no. Centre, Medium, Group, Exemptions
sending a separate letter in this regard. While intimating the change in
granted, etc. Printed on admit card and/or shown in the Admit Card
their mailing address, the students are advised to invariably quote the
Extracts which are available on the website of the Institute. If they
PIN CODE number alongwith the student registration number, name
come across any discrepancy, it should at once be brought to the
and full postal address with city, state in capital letters.
notice of Mr. T P Balasubramanian, Administrative Officer (Te1.95120-
PIN CODE is required to be mentioned for quick delivery of the 4239994 to 99 (Extn 2123) for verification/ rectification.
mail. Students may, therefore, check up the computerised mailing While the requests for duplicate Admission Certificates are promptly
address as printed on the Student Company Secretary bulletin. In being attended to by the Headquarters, students may, as per their
case, it does not carry or carry the wrong PIN CODE number, the convenience, also download Admit Card Extract from the website of
same may be intimated immediately quoting student registration the Institute which alongwith the Student Identity Card issued by the
number and full postal address with Postal Index Number so that it Institute would be equally valid for appearing in the CS Examination.
could be incorporated in the computerised mailing list.
Alternatively, the students may approach Regional/Chapter/Satellite
3. E-Mail Address of the Students Chapter Offices for issue of duplicate Admission Certificates from
21st December, 2007 onwards.
Those students who are having e-mail address may communicate
the same to the Student Services Section at dss@icsi.edu which will 8. Clarification regarding Paperwise Exemption
facilitate quick and economic communication from the Institutes side. (a) The paperwise exemption is granted only on the basis of specific
The e-mail address may be sent in the following format. request received in writing from a registered student along with
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-
tion is sought) and the exemption fee @ Rs. 100/- per paper. It is
E-Mail Address : one time payment and not to be remitted for availing of paper
4. Students Identity Card wise exemption in every session of examination during the valid-
All the students appearing in the examination must hold Identity ity of registration period.
Card in the manner prescribed by the Institute, if not already obtained (b) The application for claiming paperwise exemption must reach the
at the time of seeking registration. For obtaining the Identity Card, Institute on or before the last date for submission of enrolment
students are advised to obtain a proforma from the Headquarters/ application i.e. 25th March and 25th September for June and De-
Regional Offices of the Institute and send it again to the Institute duly cember examinations respectively and with a late fee of Rs.
filled up and attested as per instructions given in the prospectus/ 100/-, the application can be accepted upto 9th April and 10th Oc-
registration letter. tober respectively.
Students who have so far not obtained Identity Cards are advised (c) The paperwise exemption once granted holds good during the
to write to the Institute immediately. The students should carry their validity of registration period or passing/completing the
Identity Cards without fail for appearing in the Institutes examination. examination, whichever is earlier.
If the Identity Card already issued has been lost or mutilated, student
should send a request for obtaining duplicate Identity Card together (d) The paperwise exemption is cancelled only on receipt of a specific
with the mutilated Identity Card/Identity Card proforma duly filled in request in writing from the student concerned on or before the
and attested together with Rs. 50/- towards duplicate Identity Card last date for submission of the enrolment application. If any
fee. candidate appears in the exempted paper(s) of examination
without receiving the written confirmation from the Institute, but
5. Uniformity in Signatures
by making personal representation, appeal, request, etc., at the
It has been observed that some of the enrollment applications / Examination Centre at the last moment, his/her appearance in
letters received from the students are either unsigned or bear different such paper(s) shall automatically be treated as cancelled.

Student Services
(e) It may be noted that candidates who apply for grant of paper wise (j) Paperwise exemption fee is payable only when the exemption is
exemption or seek cancellation of paper wise exemption already to be availed on the basis of qualification(s) specified for the
granted, before the last date of submission of enrolment purpose.
applications for a particular examination, must see and ensure
9. Exemption from Computer Training
that they receive written confirmation from the Institute at least
15-20 days prior to the commencement of the examination. A student can be exempted from undergoing the course on the
Candidates who would presume automatic grant or cancellation basis of his existing qualification/degree in the computer field and
of paper wise exemption without obtaining written confirmation qualifies the need of Course Contents Syllabus as scheduled by
on time and absent themselves in any paper(s) of examination NIIT for C.S. Students, subject to the condition that he or she enrolls
and/or appear in the exempted paper(s) would do so at their own himself/herself for an online exemption test (to be conducted by NIIT)
risk and responsibility and the matter will be dealt with as per the from any of the NIIT Center on all India basis and successfully clears
above guidelines.
the test.
(f) Exemption once cancelled on request in writing shall not be
10. Important
granted again under any circumstances.
(g) The candidates who have passed either group of the Intermediate/ While making any correspondence regarding examination, the
Final examination under the old syllabus, may claim the paperwise students are advised to quote the following particulars for taking prompt
exemption in the corresponding subject(s) of new syllabus action :
indicating the basis of exemption as APO in the appropriate i) Name in full (ii) Student Registration number (iii) Stage of
column of the enrolment application. examination (Intermediate/Final) (iv) Group opted (v) Centre opted
(h) In case the paperwise exemption has already been granted on (vi) Particulars of fee remitted, i.e. Demand Draft (printed) number,
the basis of qualification or the candidates is eligible for grant of date , amount, name of the bank and its branch (vii) Date and mode of
exemption on the basis of securing 60% or more marks, a despatch of enrolment application and their complete address with
photocopy of the letter/marks-sheet issued by the Institute should PIN code, telephone number, mobile number or e-mail address.
be enclosed with the enrolment application while claiming such
exemption, failing which the same may not be granted for the In case of any specific problem/complaint regarding registration,
ensuing examination. post-registration, students services and postal/oral coaching, students
may contact personally or write to Shri Sohan Lal, Joint Director and
(i) No exemption fee is payable for availing paperwise exemption on
for academic guidance and suggestions, if any, students may write to
the basis of APO or on the basis of securing 60% or more marks
in the Institutes examination. Shri Balwant Kulkarni, Director at the Institutes address.
OPPORTUNITY
To Start Career in
Company Law
At Mumbai and/or Pune
with a Fast & Progressive Chartered Accountants Firm involved in
Company Law work from incorporation to mergers and demergers for
CS Students
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 Services
examinations are advised to carefully read and observe the
EXAMINATION Instructions to Examinees printed on the Admission Certificate
1. DECEMBER, 2007 EXAMINATION (Roll Number) and enclosures thereto, and also on the Question
Papers and Answer Books. However, attention of candidates is
The next examination for the Foundation Course, Intermediate and
especially invited to the following instructions:
Final, scheduled in December, 2007, will be held from Wednesday,
the 26th December, 2007 to Thursday, the 03rd January, 2008, as per (i) on receipt of Admission Certificate (Roll No.), first of all, the
the Time-Table and Programme published on the last cover page of candidates must verify carefully the entries appearing therein.
this issue. Discrepancy/error, if any, in the Admission Certificate
concerning spellings of his/her name, stage of examination
The list and addresses of the examination centers is also published
and examination centre; medium of writing the answers,
elsewhere in this issue.
subject of examination in which exemption was sought/
NOTE: shown, etc., should, at once, be brought to the notice of the
1. #Aurangabad and Bareilly Examination Centres are Shri Sohan Lal, Jt. Director (Students Services) well on time
opened for June, 2007 and December, 2007 sessions only before commencement of the examination;
purely on an experimental basis. (ii) candidates are required to bring daily to the Examination
2. *Kolhapur and Srinagar Examination Centres are opened Hall their Admission Certificates and Student Identity Cards
for June, 2007, December, 2007 and June, 2008 sessions failing which they may not be allowed admission to the
only purely on an experimental basis. Examination Hall and/or to appear in the examination;
3. The Institute reserves the right to withdraw any centre (iii) before attempting to write answers in the answer book,
at any stage without assigning any reason. each candidate must write his/her Roll Number on the
special slip affixed to Answer Book Nos. 1, 1-B and 1-C,
2. USE OF CALCULATORS IN EXAMINATIONS
date of examination, stage of examination, name of the
Candidates are allowed to bring and use their own battery operated, paper, etc. against the relevant columns on the first page
noiseless and cordless pocket calculators with not more than 6 of the main answer book and also on the top of Question
functions, 12 digits and 2 memories. Exchange or lending/borrowing Paper;
of calculators among students is forbidden in the examination hall.
(iv) candidates must attempt questions in accordance with
Use of calculators not conforming to above specifications shall not be
allowed in the Examination the directions given on each Question Paper. If the
questions are attempted in excess of the prescribed
3. HINDI AS AN OPTIONAL MEDIUM OF WRITING number, only the questions attempted first upto the
EXAMINATION required numbers will be valued and awarded marks and
Candidates are allowed to use Hindi as an optional medium for the remaining questions will be ignored;
writing all papers of the Foundation (except: English & Business (v) Questions relating to graph/prcis should be attempted only
Communication paper), Intermediate and Final examinations on the on graph/prcis sheets appended as last page to the Answer
following conditions: Book wherever required. Do not write your roll number on
(i) option of Hindi Medium for writing the examination is to be the Graph/Prcis Sheets and additional Answer Book No. 2.
exercised for all papers of an examination OR a particular The additional answer book(s) used, if any, should be
group of examination, and not for any individual paper(s) in fastened along with the main answer book. Candidates who
the enrolment application form each time for appearing in fail to observe this instruction will be penalised;
the examination;
(vi) each question should start on a fresh page and sub-
(ii) option of medium for writing examination once exercised is question(s) be attempted consecutively;
irrevocable for that particular session of examination;
(vii) while attempting a fresh question/sub-question, candidates
(iii) answer books of candidates who write part of papers/answers should distinctly mention respective question number against
in one medium and the remaining part in other medium are the answer in bold capital letters with coloured sketch pen/
liable to be cancelled without any notice; different colour ink and underline the same [(e.g. ANS. TO
(iv) candidates who have exercised option of Hindi medium in Q. NO. 3(A)] on the left-hand side margin of the answer book
their examination enrolment form for writing Foundation and also simultaneously mark (X) in the table provided on
examination and Group-I of Intermediate examination will the cover page against the respective question number;
be provided Question Papers printed both in English and (viii) candidates must not, for any reason whatsoever, tear out
Hindi version (except for English & Business any page(s) from the Answer Book or leave any blank page
Communication paper, which will be printed/required
or unused spaces in between the pages. If such spaces are
to be answered in English only). The Question Papers for
left score them out. If a candidate uses more than one answer
Group-II of the Intermediate examination and all papers of
book, he/she should, indicate on the cover page of main
Final examinations will be printed in English version only;
answer book, the total number of answer books used by
(v) if a candidate writes his/her answers in Hindi medium without him/her;
exercising such an option in the enrolment application form,
he/she may not be given credit for his/her answers; (ix) candidates are expected to write precise and to the point
answers to questions set in for the examinations in neat
(vi) candidates opting Hindi medium for the examination must and legible handwriting citing relevant provisions of the
write HINDI MEDIUM in bold letters on the top of the cover Act/rules quoting case laws, etc., in support of the
page of Answer Book No.1, 1B, as the case may be; and answers wherever applicable;
(vii) candidates opting Hindi medium for the examination may
(x) no candidate shall leave/be allowed to leave the
write answers to practical questions, headings, quotations,
Examination Hall; (i) within first one hour of
technical and legal terms, sections, rules, etc., in English
commencement of examination (ii) during last 15 minutes
medium, if they so desire.
of examination timing; (iii) without signing the
4. IMPORTANT INSTRUCTIONS TO EXAMINEES attendance sheet; and (iv) without properly handing over
Candidates enrolled for appearing in the December, 2007 his/her answer books to the Invigilator on duty;
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 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 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.

News and Announcements
Study Circle Meeting on Service Tax
NEWS AND ANNOUNCEMENTS 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
EASTERN INDIA REGIONAL COUNCIL Dhamraport Company Limited, Bhubaneswar was the main speaker.
BHUBANESWAR CHAPTER The talk was supported by multimedia presentation which made the
session very lively and interesting. Students raised several queries on
Interactive Meeting with the Passed out Students
the topic which was nicely clarified by the guest speaker.
On 2.9.2007 the Chapter organized at its premises an interactive NORTH EASTERN CHAPTER
meeting with the passed out students of Foundation, Intermediate
and Final Courses of the Institute in June 2007 examination. While Training Orientation Programme (TOP)
congratulating all the passed out students,P.K.Sahoo, Chairman, D. From 6.10.2007 to 10.10.2007 the NE Chapter of EIRC of the ICSI
Saha, Vice Chairman, S.S. Sonthalia, Regional Council Member of
organized Training Orientation Programme (TOP) for Intermediate
EIRC, B.K. Sahu, Secretary,Sunita Mohanty, Treasurer, S.K. Sahoo,
passed students for the second time at Guwahati (for five days) under
T.K. Sahu and S.S. Mishra, Members of the Managing Committee
the Programme Coordinator Ashok Kumar Agarwala. In all 11 (eleven)
addressed the students and gave valuable inputs for study and
students participated the programme. On 6.10.2007 the Training
examination. They stressed to enhance the communication and
Programme was inaugurated in the presence of Chapter Chairman
presentation skills of the students
Narayan Sharma & other Managing Committee Members. The Chapter
Study Circle Meeting on How to Make Money from Stock Chairman in his welcome address hoped that the programme will be
Market beneficial to the students. Programme kits were distributed to the
On 2.9.2007 the Chapter organized a students Study Circle Meeting students in the inaugural session of the programme. The programme
on The Basics of Stock Market which was attended by Foundation, schedule which was prepared covering all the topics as per guidelines
Intermediate & Final level students of the Chapter. Guest Speaker K. & consulting with the faculties were announced in the inaugural session
Sanjeeb Patra, Director, SMA e-Experts (P)Ltd. Bhubaneswar said and copies of the programme schedule were distributed among the
that the secondary market in India is growing which is the topic for participants. Candidates filled up the Final Reaction Sheet at the end
discussion round the globe. Indian economy is going stronger. Financial of the programme.
Institutions as well as Indian Asset Management Companies have Certificates were issued to the students at the valedictory session
entered the market in a big way. The investment in equity has shown of the programme by the Chapter Chairman as well as by the
a dramatic return as compared to other returns like bank, FDs, gold, Programme Coordinator. The participants narrated their experience
silver, NSC/KVP bonds etc. However the robust growth in various and expressed their satisfaction over the programme.
sectors like power, infrastructure, IT, Banking, Steel, developers/
estates, auto etc. had shown a lucrative results in the last few year. The topics discussed and the faculty during the five days of TOP
This is the era of joint venture, amalgamations, merger etc. which were as under :
give value added services to their clients. Due to strong rupee The topic Code of Conduct and Importance of Training were dealt
appreciation most of the foreign investments are directed towards India with by Narayan Sharma, Chapter Chairman; Computer Internet/E-
which is a good sign. Now Indian stock market is an investment hub Mail by Anjan Talukdar, Chapter Secretary, How to Qualify professional
for foreign investment. It is a global point of view. He also provided few examination, Future Prospect of Company Secretary and Managing
tips on the e-merging stock market, which will definitely help common Under Crisis by Rajkumar Sharma, Managing Committee Member of
investors to make money from the stock market. the Chapter, Group discussion, Time Management, Writing of
Curriculum Vitae & Writing Skills and Interview Techniques & Self
B.K. Sahu, Chapter Secretary advised the students to inform their
Assessment, SWOT Analysis, Career Prospects & Personality were
friends about the profession of CS course and advised them to
dealt by Jagadish Nath, Faculty from ICFAI, Guwahati; Usefulness of
participate in all the programmes being conducted for the students.
Yoga & Stress Management by G.R. Sharma, Yoga Acharya & by
Second Training Orientation Programme profession an Advocate from Guwahati; Role & Functioning of
ROC(Practical Aspects) by Manoj Kedia, Manager, Facilitation Centre,
From 8.9.2007 to 12.9.2007 the Chapter conducted its Second
MCA-21; Role & Functioning of Stock Exchange/SEBI, RBI, DRT &
Training Orientation Programme for the Interemdiate/Final passed
Capital Markets (Practical Aspects) by Manish Jain, Managing
students of the Institute at its premises. The programme was
Committee Member of the Chapter; Organisation Structure, Role and
inaugurated on 8.9.07 by B.Mohanty, Registrar of Companies, Orissa
Functioning of Competition Commission of India, NCLT/NCLAT/ROC
as the Chief Guest. K.N. Ravindra, Company Secretary,NALCO
by Biman Debnath, Chapter Treasurer, File Management (Organisation
Bhubaneswar was as the Guest of Honour.
& Structure) by P. Gaggar, Chapter Vice Chairman, Usefulness of
Speaking on the occasion, ROC, MCA Orissa thanked the Chapter reading newspaper by Dr. Debabrata Mukherjee, Faculty Member of
of the Institute for its regular activities for the benefit of the students. the Chapter; Drafting of Minutes, Notices, Resolution etc., Stress
He also spoke on the significance of training needs and its usefulness. Management for Students, Career Planning, How to Carry Oneself,
K.N. Ravindra addressed the students on Drafting of Minutes, Notices, Meaning of Professional, Personality Development & Dress Code and
Resolutions etc. and Managing under crisis. Sunita Mohanty, Treasurer Usefulness of Professional Development Programmes,
and Course Coordinator of the programme apprised the students about Communication Skill, Writing ability, speaking ability, Drafting of letters
the structure of the training programme and its importance and asked & Office Culture were dealt by Ashok Kumar Agarwala, Programme
the students to give their suggestion for its future improvements. Coordinator, TOP, of the Chapter.
On 12.9.2007 at the valedictory session D. Saha, Vice Chairman Usefulness of reading Newspaper is no more interesting. Rather
of the Chapter distributed the training completion certificates to the Stress Management is preferred more by the students. Some students
participants. gave emphasis on practical demonstration of File Management.

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

Program that helps in nurturing the students. He also threw light on also through various groups and communities like yahoo etc. This will
Annual General Meetings and said how important they are for a work as knowledge resource for the group members and has been
Company Secretary. He also focused on equity and preference shares. proved very beneficial for future references. He said that the students
He said that the emotions also play an important role. One should should broaden their Horizon to excel in their profession.
also learn to respect human beings. S. Kumar, Sr. Director (Training, Membership & Legal) while
Valedictory Session of 108th SMTP addressing the students on the occasion said that the ICSI never
On 6.9.2007 the Valedictory session of 108th SMTP was held. 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
Chief Guest on the occasion was Dr. Navrang Saini, Joint Director students would be handling AGMs and other crucial professional
(MCA 21), Ministry of Corporate Affairs, Govt. of India. assignments once they finish the SMTP hence they should take full
S.Kumar, Sr. Driector (Training, Membership & Legal) said that the advantage of SMTP. He emphasized that SMTP is the platform where
responsibility of the professionals has increased due to globalisation. students can clear their doubts by interacting with the eminent Faculty.
He informed the students about the new emerging concept of LLP He suggested that students should focus on overall development
and stressed that the students must update themselves with Journals, like their communication skills, personality Development, etc.
newspapers etc. He said that apart from updating knowledge, good
communication skills and presentation skills, the positive mindset also On 4.10.2007 at the Valedictory Session of the 109th SMTP Chief
plays a vital role in grooming ones personality. He said that Company Guest Paul Joseph, Principal Advisor, Planning Commission, Govt. of
Secretary is a compliance officer of the company and he should know India while speaking on the occasion mentioned about his long
how to balance the legal compliances. He said that the students have association with the institute. He briefly mentioned about the stock-
completed their CS and would be part of CS Fraternity soon hence he exchanges and their management. He said that SMTP is detailed
requested them to help the institute in revising syllabus, updating Academic orientation Program and students should also focus on
modules, Organizing programmes, writing papers for national personality development apart from other requirements. He said that
convention etc. At the end he gave his best wishes to all the students. the rapid economic growth and liberalization have changed the role of
a Company Secretary. He added that as MNCs are venturing in India,
Ashu Gupta, Chairperson, SMTP Committee spoke about the a CS should not only restrict himself/herself to India rather he should
challenges ahead for CS Fraternity. She also talked about E- know about the various legislations across the world. He briefly gave
Governance and mentioned about MCA project. She also requested the outline of the eleventh plan. He said that the draft has been prepared
students to regularly attend seminars so that they can update and GDP growth is expected to rise to 10% during the same. He also
themselves on continuous basis. highlighted that this plan mainly focuses on sustainable growth.
Chief Guest Dr. Navrang Saini, affably thanked all present for inviting Nesar Ahmed, Central Council Member, the ICSI while speaking
him for the occasion. He commenced his valuable speech by on the occasion said that SMTP is the best learning platform to acquire
highlighting two major issues. One is project MCA 21 and other is role knowledge. He wished his best wishes to all the students.
of CS in relation to it. He apprised the students with the Ministry of
Earlier S. Kumar, Sr. Director (Training, Membership & Legal) of
Corporate Affairs and said that the Ministry has changed the name to
the ICSI while delivering his address said that the students should be
Corporate Affairs, as it was Company Affairs earlier. He told the students
ready for the various responsibilities and the challenges in coming
about project MCA21. He also mentioned that whenever a new system
future. He briefed the students about the precautions to be taken care
is launched it has certain lacunae but MCA 21 is getting very good
of while handling various activities related to the profession. He broadly
feedback. He also informed that all other Ministries are learning lesson
emphasized on professional misconduct and the ramifications thereof.
from MCA21 project and going for E-Governance. He gave certain
He said that if a Company Secretary in Practice accepts an assignment
guidelines to the members and requested them to take utmost care
previously handled by some other Company Secretary then intimation
while uploading any information. He wanted all the members to have
has to be given to the person handling it before.
expertise with the secretarial standards before doing anything. Lastly
he congratulated everyone on successfully completing the SMTP and Hitender Mehta, Vice Chairman, NIRC said that during SMTP, a
gave best wishes for bright professional career of the students. bond is created between the students which is ever lasting. He also
said that students should groom themselves in a manner so that they
109th SMTP can take full advantage of all the emerging opportunities.
On 18.9.2007 the 109th SMTP conducted by the Regional Council Nesar Ahmad, Central Council Member, the ICSI in his address
was inaugurated. said that the SMTP is best learning platform to acquire knowledge .
Chief-Guest: Vikas Saxena, Head-Legal & Company Secretary, He wished the students present all the best in their future endeavour.
India Bulls Securities Ltd. in his inaugural address shared his valuable Thirtieth Training Orientation Programme
practical experiences. He initiated his speech by the encouraging words
On 10.9.2007 the 30th TOP was organized by the Regional Council
to the students do not limit your potential. He added that if you have
of the ICSI.
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.K. Srivastava EO(N) in his welcome address explained Training
a person himself/herself. He stressed that if you are doing something Orientation Programme, its background, importance and significance.
it should be done properly. He advised the students not to restrict S. Koley, Secretary, NIRC congratulated the participants for reaching
themselves to the sections of the Companies Act only, rather they up to this stage. While addressing the participants on the occasion,
should broaden their horizon. He emphasized that if something has he informed them about the training requirements of the curriculum.
been given to you, do it promptly. He also gave examples of successful He suggested the participants to take initiatives during their training
businessmen who have excelled in their respective areas and emerged period. He gave some tips for learning during training period. At the
as role model for others. He also offered his best wishes to budding end, he offered his best wishes to the participants.
professionals for their future professional career.
On 14.9.2007 at the valedictory session Alka Arora, Education
The proceedings of the SMTP programme was initiated by Ashu Officer, NIRO initiated the proceedings of the program.
Gupta, Chairperson, SMTP Committee of NIRC.
S. Koley, called for suggestions and feedbacks from the participants
Hitender Mehta, Vice-Chairman, NIRC, while addressing on the and gave assurance for implementation of the same.
occasion said that the real meaning of SMTP is Smart Methods to
Sanjay Mishra, Faculty Member, was also present on the occasion
Train Professionals. He also threw light on the batch hood concept.
who shared with the participants that when he was doing CS there
He said that the students should be connected to each other in future
was no TOP. He also offered his best wishes to the participants.
A. K. Srivastava suggested the participants that taking initiative is Sixth Training Orientation Programme
necessary for learning. Devotion of time, efforts is essential. Its like From 1.10.2007 to 5.10.2007 the Chapter organized its Sixth
self service, one has to grab the opportunity for learning, nobody in Training Orientation Programme. The valedictory session of the Training
the office is sitting idle to teach you. At the end, he also offered his Orientation Programme was held on 5.10.2007.
best wishes to the participants.
Dr. N.K. Sahni, Coordinator of the programme submitted the
Twentieth Academic Development Programme
complete programme details covering the various topics by the Faculty
On 15.9.2007 NIRC of ICSI organized 20th Academic Development Members. During the sessions of the programme some of the
Program for the students on the subject Stress ManagementEmotional participants expressed their views, experience and benefits of the
Intelligence & Attitude Reengineering and Time Management. Training Orientation Programme.
R.K. Manocha, Joint Secretary, Ministry of Railways, Government
Atul V. Sood, Member, NIRC informed the participants the role of
of India was the faculty on the topic Stress Management and Vinay
Sharma, Corporate Consultant, was the faculty on Time Management. the company secretary and about the various training programmes &
professional development programmes being organized by the Institute
Alka Arora, Education Officer, NIRO initiated the proceedings of of Company Secretaries of India. He stressed on the importance of
the program at the Valedictory Session. She congratulated the the updation of the knowledge and professional skills.
participants for their successful completion of the program.
S. Koley, Secretary, NIRC was present on the occasion. He called Punit K. Abrol congratulated the participants for their completion of
for the suggestions and feedback from the participants. He also gave Training Orientation Programme. He called for the suggestions and
practical tips to the participants. feedback from the participants of TOP. Punit K. Abrol and Vishal Arora
distributed the Course Completion Certificates to the successful
Satwinder Singh, Chairman, NIRC mentioned that to be successful
candidates.
soft skills are essential. Packaging plays a very important role in the
success of any person. He also stressed on the attitude re-engineering. JAIPUR CHAPTER
He mentioned that the aim of the Institute is that its students and Participation in National Education Conclave 2007
members always grow high in life. At the end he offered his best
On 10 and 11.10.2007 the Chapter participated in the National
wishes to the participants.
Education Conclave-2007 organized by Eduexcel, Noida at India
Career Awareness Programmes International School, Mansarovar, Jaipur. In the conclave leading
The Regional Council organized a number of Career Awareness schools of Jaipur participated in good number and the Chapter rendered
Programmes as per details given below : guidance, clarification and assistance to visitors to the ICSI stall.
On 31.8.2007 a Career Awareness Programme was held at Bhai On 11.10.2007 a talk on career in Company Secretaryship was
Joga Singh Sr. Sec. School, East Patel Nagar, New Delhi; on 1.9.2007 specially organized. During the talk a presentation was made under
at Govt. Sr. Secondary School, East of Kailash, New Delhi; on 3.9.2007 the head ICSI Corporate Film by G.C. Sharma, Executive Officer of
at Gurunanak Public School, West Avenue Road and Andhra Education the Chapter Office . Students asked a number of queries, about the
Society Sr. Sec. School, Prasad Nagar, New Delhi; on 7.9.2007 at
Company Secretaryship course i.e. How to pursue the course, duration
Sarvodya Kanya Vidyalaya No.2, East of Kailash, New Delhi; on
of the course, expenditure to be incurred for the course, placement
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, and prospects of Company Secretary, etc.
Rajouri Garden Extn. New Delhi; on 13.9.2007 at Ramjas School, R.K. JALANDHAR SATELLITE CHAPTER
Puram, New Delhi; on 19.9.2007 at J.D. Tytler School, New Rajinder Training Orientation Programme (TOP)
Nagar, New Delhi and Ramjas Girls School, Daryaganj Delhi; on
21.9.2007 at Convent of Gagan Bharti, Mohan Garden, New Delhi; on From 8.10.2007 to 12.10.2007 the Jalandhar Satellite Chapter of
25.9.2007 at St. Giri International School, Nr. Patel Nagar, New Delhi; NIRC of the ICSI organized Training Orientation Programme (TOP) at
on 26.9.2007 at S.D. Girls Sr. Secondary School, East Patel Nagar, Co-Operative Training Hall of Agricultural Co-Operative Staff Training
New Delhi; on 27.9.2007 at V. Savarkar Govt. Sarvodaya Kanya Institute. Twenty Six students participated in the same besides
Vidyalaya No.1, Kalkaji and on 28.9.2007 a Career Fair was held at members and guests. In the first day I.K. Sardana, the Managing
Govt. Boys Sr. Sec. School. No.2, Narela, Delhi. Director of Sukhiji Starch and Chemicals Ltd. was the Chief Guest.
The programmes were addressed by one or the other of the Satwinder Singh, Chairman, NIRC presided over the programme.
following jointly and severally. Shagun Madan, FCS, Sudhir Jain, Dinesh Gupta, Programme Director enlightened the members on the
FCS, J.K. Bareja, FCS, Swati Patil, ACS, Richa Kalra, ACS, Pradeep importance of Training Orientation Programme. Satwinder Singh
Debnath, ACS, Sailesh Jain, ACS, Visahal Arora, ACS, A.K. Srivastava, enlightened the delegates on the role and responsibilities of Directors
Executive Officer, Alka Arora, Education Officer, Geetanjali Singh by giving a detailed presentation. Suneel Keswarni, Management
Rathore, DO, NIRO, and K.K. Narula, AO(NIRO). During the career Trainer enlightened the students on the importance of Emotional
awareness programmes in the above institutions the students were Intelligence for Corporate Excellence. I.K. Sardana appreciated the
apprised about the mode of registration in the course, syllabus, role of company secretaries for better corporate governance in
structure of the course and also the avenues available after completion corporate sector and Government Undertakings.
of the Company Secretaryship Course both in employment as well as On 9.10.2007 Prof. V.K. Sareen, Sr. lecturer in DAV College organized
in practice. Pamphlets explaining career in Company Secretaryship a Quiz on Company Law. All the students participated in the quiz. P.S.
Course were distributed to the students. Dua, Practising Company Secretary at Ludhiana gave a detailed
CHANDIGARH CHAPTER presentation on individual Credit Rating. In the Post Lunch Session,
Oral Coaching Classes for June, 2008 Examination Rajiv Goel, Advocate, ignited the keen minds of students by highlighting
the need of Team Building, Leadership, Public speaking and presentation
W.e.f. 16.1.2008 The Chapter proposes to conduct Oral Coaching skills. He also rehearsed the delegates for public speaking.
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. On the next Day, Brijesh Mathur, Practising Company Secretary in
5000/- (per group of Intermediate or Final). The classes will be Delhi shared his views on the practicalities involved in Intellectual
held subject to enrolment of sufficient number of students. Property Rights with special reference to Trade Marks. In the Post
Tea Session K.S. Pathania, Commissioner of Income Tax and J.R.
For further details, contact the Chandigarh Chapter Office at Sharma, Income Tax Officer presided over the programme. All the
GGDSD College, Sector 32-C, Chandigarh, between 11.00 A.M. delegates gave presentations on various topics allotted by the
to 7.00 P.M. on all working days. programme Director. Dinesh Gupta and Prof. Vijay Gupta, Sr. Lecturer

in DAV College, Dr.Ravi Inder Singh, Sr. lecturer in Agricultural Co-
Final All St. Joseph Composite PU College, 6.30 A.M. to
operative Staff Training Institute and Parminder Singh Rally, Vice
Three Groups No.2, Grant Road, Bangalore- 8.30 A.M.
Chairman, Jalandhar Satellite Chapter evaluated the presentations.
560001 (Near Vittal Malya Hospital) 6.00 P.M. to
The whole of 10.10.2007 was dedicated to the Educational Trip. 8.30 A.M.
The students first visited the Capital Local Area Bank to learn the
practical aspects of Banking and Foreign Exchange and thereafter The Classes for Final Course would commence subject to
went to Science City. the enrolment of sufficient number of students.
On the last day, Aman Setia, Chairman Jalandhar Satellite Chapter For further details contact the Chapter Office at the following
introduced the students with the practicalities of Capital Market. India- Tel.Nos. 080-22261861; 080-22286574 and 080-22287158.
A Case of Mismanaged HR package was described by Dr. Vikram
Singh Virk,Sr. Lecturer in Govt. College Kapurthala. At the Valedictory Inauguration of Eighth Training Orientation Programme
Session, Manmohan Juneja, Registrar of Companies, Punjab, HP. & (TOP)
Chandigarh was the Guest of Honour. He gave a brief description of On 3.9.2007 the 8th Training Orientation Programme conducted
the general working of the Ministry and their expectation from the by the Bangalore Chapter of the ICSI was inaugurated. Chief Guest
professionals. All the winners in Quiz and Presentations were awarded
Santosh Ghate, Assistant Vice President Communications & HR,
Mementoes. Dinesh Gupta, Programme Director and Mammohan
Juneja (ROC) distributed the Certificates of TOP to the Delegates. Swiss Re Shared Services (India) Pvt. Ltd., Bangalore in his address
expounded on the expectations the industry has from professionals.
On 13.10.2007 a Workshop was organized on Personality He also explained the concept of employable resource and that it
Development Successful Career at Training Hall of the Capital Local
entailed a cycle of knowledge acquisition, skill application, managing
Area Bank, which was attended by members, students, 26 delegates
of Academic Development Programme and guests. S. Samra, the skill & knowledge and performance, apart from interpersonal skills,
Managing Director, Capital Local Area Bank was the Chief Guest. G. which every company looked at in candidates they choose to hire and
Gehani, Director and Company Secretary, PSL Holdings Limited and that they hire for the right attitude and train for skills. The TOP was
Past Council Member, the ICSI devoted his talk on How to Improve attended by 40 participants.
Personality, Mannerism, Attitude and Happiness. At the end Dinesh On 7.9.2007 at the valedictory session of the TOP held at Chapter
Gupta, Programme Director and G. Gehani distributed the Certificates premises, J. Sundharesan,(Past Chairman, Bangalore Chapter of the
of ADP to the Delegates. ICSI) Company Secretary, J. Sundharesan & Associates, Company
LUCKNOW CHAPTER Secretaries, Bangalore, was the Chief Guest.
National Education Conclave 2007 Sundharesan in his address shared some tips for being the best
On 14 & 15.9.2007 the Chapter participated in National Education professionals as: Networking, attending ADPs/PDPs, being proactive,
Conclave 2007 at C.M.S. Auditorium,Kanpur Road,Lucknow. D.N. building your brand, hard work, and acquiring additional qualifications.
Mishra, Chairman, M.K. Bhagat, Vice Chairman & Amit Gupta, Member
Madhwesh and Lakshmi Ratnam, participants, shared their
attended the programme with Chapter staff S. Negi and Shiv Moorti
Tiwari. Thousand of students and teachers from various schools & feedback about the programme.
colleges were present at the auditorium. The Committee Members Sundharesan then distributed the TOP Certificates to the
present addressed the participants and convinced them to pursue the participants.
company secretaryship course. 32nd Secretarial Modular Training Programme
D.N. Mishra explained about the course offered by the Institute,
like portfolio & career prospects of company secretary, registration On 10.9.2007 the Chapter organised the Inaugural Function of
and examination procedure. the 32nd Secretarial Modular Training Programme. Sandeep Farias,
Chief Innovation Officer & India Country Director, Unitus-Innovative
Amit Gupta explained the course by showing them a self prepared
Solutions to Global Poverty, Bangalore was the Chief Guest who
projection. He said that the course is challenging and after completing
inaugurated the programme.
it, there are lot of job opportunities in the field. Brochures & pamphlets
briefing about the course were distributed to all the participants by Sandeep Farias in his address shared with the participants the
Shiv Moorti Tiwari (In charge Student Services). necessary characteristics and skills for every successful professional.
He also emphasized on the importance of integrity, and social
SOUTHERN INDIA REGIONAL COUNCIL responsibility for every individual
On 27.9.2007 at the valedictory session held at the Chapter
BANGALORE CHAPTER
premises V.C. Davey, (Co-opted Member, Managing Committee of
ORAL COACHING CLASSES the Bangalore Chapter of the ICSI), Registrar of Companies, Karnataka,
W.e.f. 7.1.2008 the Chapter proposes to commence its next Bangalore was the Chief Guest who commenced his address by
batch of Oral Coaching Classes for Foundation, Intermediate congratulating the participants for completing the CS Course. He
and Final Courses as per the schedule given hereunder : explained them the changes in the functioning of the MCA right
from the introduction of MCA 21, the increased scope for Company
Name of the Venue Timings Secretaries for certifications and other areas, the demand for more
Course qualified Company Secretaries and that when NCLT is established
Foundation Chapter Premises 6.30 A.M to the scope for Company Secretaries is bound to increase. He cautioned
8.30 A.M that as the scope increases so does the responsibilities and that each
Intermediate of them should certify documents only after verifying all data. He also
impressed upon the participants the importance of regularly updating
Group I & II 6.30 A.M. to their knowledge.
(Morning) St. Joseph Composite PU 8.30 A.M
College, No.2, Grant Road, Srinivasan and Smitha S participants, shared their feedback about
Bangalore 560001 (Nr. Vittal the programme.
Group II Malya Hospital) 6.00 P.M. to Davey then distributed the Best Participant Certificate Award to
(Evening) 8.00 P.M. Smitha S, and prizes for the Best Project to the team of Aarthi
Group I Chapter Premises 6.00 P.M. to Rajendran, Lakshmisha Babu S, Urvashi Pradhan and J. Nithya, for
Evening 8.00 P.M. their project on Board Meetings through Video Conferencing. He also
distributed the Course Completion Certificates to the participants.

HYDERABAD CHAPTER Govt. I Grade College, H.N. Pura for I Year, II Year and III Year students.
Career Awareness Programmes On 3.10.2007 the Career Awareness Programmes were held thrice at
JSS College, Nanjangud. Around 400 students in all attended the
The Chapter organized a number of Career Awareness Career Awareness Programmes. The speaker of the Career Awareness
Programmes as per the details given hereunder: Programmes were one or the other of the following.CS Anshuman
On 24.8.07 the Career Awareness Programmes were held at Swathi A.S., Chakri Hegde, Abhishek and Veena B.
Degree College, Hyderabad; on 25.8.2007 at Geetham Degree College, Commencement of Oral Coaching Classes
Ongole; on 28.8.07 at Modern Degree College, Chilakalurpet ; on
1.9.2007 at Vivekavardhini, SC Woemns Degree College and On 11.10.2007 the 144th session of Oral Coaching Classes of the
Singareni Colliers Womens Jr. College all at Othagudem; on 7.9.07 Chapter commenced to prepare Intermediate Group I students for the
at Vijayawada Nalanda Jr. College & Sai Sudhir Degree & PG College, June 2008 examination. A good number of students attended the
Hyderabad; on 14.9.2007 at St. Anns Degree College for B.Com I classes.
Year and St. Anns Jr. College for Girls for II Year Students And St. Broadcast in AIR Interview with Successful Students
Anns Degree College for B.Com II & III year students ; on 19.9.2007 A program titled An Interview of Successful Students of the ICSI
at Holy Cross Degree College for II year students, Holy Cross Degree was broadcast by the All India Radio in the Yuvavani program in FM
College for B.Com III year students at Suman Jr. College for Girls for 100.60 at 8 PM on 30.10.2007. The students interviewed were Rakesh
II year Students and Suman Jr. College for Girls, Hyderabad for I & II S. and Pracheta M. who won the National Level Moot Court Competition
year students; on 20.9.07 at Govt. Jr. College, Hyderabad for CEC, in Bangalore.
HEC & MPC students at Holy Cross Degree College for B.Com I & II
year students; on 21.9.2007 at Sathavahana College, Vijayawada for Study Circle Meetings
B.Com Final year students ; on 22.9.07 at Sathavahana College The chapter conducted the following 6 study circle meetings for
Vijayawada for B.Com I Year, students ; on 28.9.07 at Govt. Jr. College, the benefit of the students during the month of October
Hyderabad for CEC, MEC I year, II year and MPC, BIPC students. On 07.10.2007 the Study Circle Meeting was held on Economics
The programmes were addressed by one or the other of the following and Labour Laws MRTP which was addressed by Smitha S; on
jointly and severally. S.S. Marthi, Chairman of the Chapter, Rajnish C. 14.10.2007 on Clarifications on Company Law and Taxation addressed
Popat, Chairman, Oral Coaching & Students Facilities Committee and by CS. Dattatri H.M.; on 21.10.2007 on Clarifications on Ist Group
R.Chandra Sekhar, Executive Officer, Hyderabad Chapter. Nearly 4000 Intermediate and Interpretation of Statutes, Advanced CL addressed
students in all attended these programmes. by CS. Anshuman A.S.; on 28.10.2007 Clarifications on Ist Group
Valedictory Session of Secretarial Modular Training Intermediate addressed by CS. Anshuman A.S. and again on the
Programme same day another study circle meeting was held on Clarifications On
On 4.10.2007 the valedictory session of 32nd SMTP was held. WTO, Advanced CL addressed by Pracheta M.
M.R. Bhat, Official Liquidator, Ministry of Corporate Affairs was the Talk on All India Radio About the CS Course
Chief Guest who in his address congratulated the participants for On 3.9.2007 a Career Guidance Talk was organized by the Mysore
successfully completing the SMTP and advised them to acquire Chapter on All India Radio, Mysore. The program was aired in prime
knowledge in a structured and continued manner. He stressed on time by AIR in its Yuvavani program. Surendranath Satvik of AIR
dedication, determination, and that every person should spare some interviewed , CS. Dattatri H.M. Secretary of the Chapter. In the half
time towards social activities. M.R. Bhat shared his experience to the an hour broadcast, CS. Dattatri lucidly explained the role and
participants. Participants also spoke and greatly appreciated the importance of Company Secretaries, the course curriculum, the
programme and the capabilities of the Chapter. employment prospects, the facilities available in Mysore Chapter and
The Chief Guest M.R. Bhat, S.S.Marthi, Chairman of the Chapter, other details. The program generated good number of enquiries. The
Datla Hanumanta Raju, Council Member, The ICSI and C.Sudhir Babu, Program was very much comprehensive and informative and all most
Council Member, The ICSI presented participation certificates to the all areas, scope and career opportunities relating to the CS course
participants and other prize awards to the following : was covered in half an hour interactive session. The interaction and
v Best Participant Award to Puna Kumar Singh information was so informative and convincing that even the Senior
Students of the Course felt that they were getting details of a new and
v Best Speaker Award to M Madhavi different course all together.
v Better Speaker award to Raj Kumar Jha Broadcast of CS Course Details
v Good Speaker Award to Komal D Shah An innovative program to popularize the CS Course and the
v Best Project Presentation award for the topic Joint Ventures Profession through All India Radio was undertaken by the Chapter
& Foreign Collaborations to the team comprising M.Madhavi during the month. A series of 5 minute capsules were recorded in local
G; Komal D and K.Venkata Lakshmi. language giving details of the course and the profession by CS. Dattatri
Inauguration Of 61st Batch Of Oral Coaching Classes H.M. for broadcasting in the NAVILUGARI program of All India Radio
(FM 100.60). NAVILUGARI program is the most popular program of
On 22.10.2007 the ICSI-Hyderabad Chapter commenced the 61st
the channel.
Batch of Oral Coaching Classes at its premises. S.S.Marthi, Chapter
Chairman inaugurated the classes. He informed the students about The capsules were broadcast every day at around 8.50 AM. from
the role of the Institute, importance of Company Secretaryship course 17.9.2007 to 21.9.2007. Each episode ended with a simple question
and role of Company Secretary and opportunities available for the about the profession or the course. Listeners were given a different
qualified. He advised the students to take up the course sincerely and phone number every day to inform the right answer of the question.
to give focused attention to their studies. Rajnish C Popat, Chairman The names of the persons answering the question correctly were
- Oral Coaching & Students Facilities Committee informed the students announced in the program the next day. This method generated wide
about the rules and regulations of the Oral Coaching, eligibility criteria interest in the program. It gave an opportunity to the callers to get their
for issue of coaching completion certificate, Library Facilities etc. doubts clarified. The callers were provided suitable career guidance.
MYSORE CHAPTER The phone numbers of the following counsellors were broadcast
Career Awareness Programmes on the day mentioned against their name :
On 01.10.2007 the Career Awareness Programme conducted by On 17.09.2007- 9886580876 Kiran T. The query asked was Is the
the Chapter was held at Govt. I Grade Ladies College, H.N. Pura; company secretary same as a personal secretary ?

On 18.09.2007 - 9886395144 CS. Srilatha the query was How Meeting on how to approach Company Secretaryship
many companies need CS ? How many are there ? Course
On 19.09.2007-9844422302 Sunil Kumar B.G. the query was Is On 14.09.2007 The Chapter organized a meeting for the students
PUC enough for the course ? Is there a minimum %age? of the Chapter on how to approach Company Secretaryship. The
On 20.09.2007-9886580876 Kiran T. the query was How much Secretary of the Chapter CS.Baiju Ramachandran was the speaker of
does the course cost ? and on 21.09.2007-9449621724 CS. the programme. In his address, he motivated the students with 25
Anshuman A.S.- ways to approach professional courses like Company Secretaryship.
He also advised the students on the preparation for the examination
The program generated numerous queries and resulted in quite a and also the future prospects once they qualify the CS course. About
few registrations. 30 students attended the programme.
Students Interview by TV Channel Career Awareness Programme
On 16.9.2007 an interview of Pracheta, Rashmi, Kamal and Rakesh On 28.09.2007, the chapter organized a career awareness
compered by CS. Dattatri was telecast by UMN channel. The program programme at Govt. Higher Secondary School for boys, Pettah,
highlighted the achievement of these students in the national level Thiruvananthapuram. CS.Baju Ramachandran, Chapter Secretary
competitions in the recent past. The occasion was used by the Chapter spoke on the occasion and outlined the details of the CS course,
not only to motivate the existing students to compete in such Chapter institute, Chapter etc. Around 80 students attended the programme.
activities but also to popularize the course amongst the youth.
THRISSUR SATELLITE CHAPTER
Extensive Career Counselling Programmes
National Seminar on Professionalism in Corporate
The Chapter conducted 55 career counseling sessions in 24 Governance
institutions during the month of September 2007 covering 4650
students. The chapter started the counseling in Mysore colleges and On 12.10.2007 with the joint participation of Thrissur Satellite
moved out to nearby towns and cities like Gundlepet, Chamarajnagar, Chapter and Sree Kerala Varma College, a National Seminar regarding
Professionalism in Corproate Governance was conducted at the
Hassan, Mandya, T. Narasipura, Kollegal, Madikeri, Hunsur, K.R.
college Auditorium successfully. About 175 persons participated from
Nagar, Gonikoppal and Virajpet covering the districts of Mysore,
7 colleges. The programme inter alia honoured 35 students for their
Chamarajnagar, Hassan, Coorg and Mandya. The counselling was
achievements in different exams of company secretary course.
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.
WESTERN INDIA REGIONAL COUNCIL
Study Circle Meetings Secretarial Modular Training Pogrammes:
The study circle meetings of the students held at the Chapter during WIRC organised its 72nd Secretarial Modular Training Programme
the month of September. The following sessions were handled : from 12.3.2007 to 27.3.2007 at ICSI-CCRT Navi Mumbai. 50 Students
attended the programme .
On 02.09.2007 the study circle meeting discussed Company
WIRC organised its 73rd Secretarial Modular Training Programme
Accounts Underwriting Commission. On 9.09.2007
from 23.4.2007 to 8.5.2007 at ICSI-CCRT, Navi Mumbai. 23 Students
Accounting for Amalgamation and Reconstruction,and Company Law. successfully completed the programme. Eminent faculties delivered
On 16.09.2007 Consolidation of Accounts and Company Law were lectures on Risk Management, Service Tax, IPR, Competition Act,
discussed. On 23.09.2007 Company Law Prospectus was discussed Appearance before CLB/NCLT, Commodity Exchange Market, Loan
and on 30.9.2007 Company Law Drafting Resolutions and Corporate Documentation Corporate Governance, LPO, Drafting and Commercial
Taxation were discussed. Negotiations, Knowledge Management, Merger & Amalgamations,
Find the Photo Contest Prevention of Insider Trading, IPO, Personality Development, LLP,
An innovative FIND THE PHOTO contest was held by the Chapter MCA-21, Preferential Issue, SEZ etc. Besides a Mock AGM, Board
to generate student interest in Chapter activities. Old Photographs of Meeting and Moot Court were also arranged.
students were circulated amongst the members and students asking The Participants were divided into four groups and they made project
them to identify the photograph. The first to answer the query would presentation on topics : IPO, Merger & Amalgametion & Takeover,
be awarded a prize. The contest has generated considerable interest Preferential Issues and Corporate Governance. The presentation on
amongst the students and members. Corporate Governance was adjudged as the best project. Best
participants award was given to Sheetal Dhavan and the award for
THIRUVANANTHAPURAM CHAPTER the best presenter was bagged by Sheela J. Chhatwani.
Inauguration of 40th Batch of Oral Coaching Classes The 74th Secretarial Modular Training Programme of WIRC was held
On 05.09.2007, the 40 th batch of oral coaching classes for from 31.8.2007 to 16.9.2007 at ICSI-CCRT Navi Mumbai. In all 52 students
Intermediate Course was inaugurated by CS.G.Raman Pillai, former attended and completed the programme. The programme was inaugurated
Chairman at ICSI-SIRC. In his address he explained the role of by Vikas Khare, Chairman WIRC. Antony Paul, Joint Director, WIRC
Company Secretary in the present economic condition. CS. Baiju explained the rules and modalities of the training programme.
Ramachandran in his welcome address explained the potential areas Eminent/Senior faculty members from the profession - practice
of Company Secretaries in employment as well as practice. CS.Bijoy and employment, and others addressed the participants on various
P. Pulipra explained the library facilities of the Chapter. About 20 topics like Central Excise, Knowledge and Compliance Management,
persons attended the programme. Joint Ventures, FEMA, Interview techniques, External Commercial
borrowings, IPO, E-filing, Competition Act, Practice before consumer
Career Awareness Programme court, Secretarial Audit, Mutual Fund, Information Technology Law,
On 12.09.2007, a career awareness programme was organized at Independent Director, Commodity Exchange etc. A session on Mock
Rotary club of Trivandrum. CS.Baiju Ramachandran addressed the Board Meeting and Moot Court were also organised. The participants
members of the club and explained the role and importance of company were also taken to Bombay Stock Exchange. The Valedictory session
secretaryship course in the changing economic scenario. He also was chaired by Vikas Khare, Chairman WIRC. In the programme, six
highlighted the opportunities available for those who completed the groups were formed for project presentation on the topics 1) Corporate
Company Secretaryship course. More than 50 persons attended the Governance 2) Special Economic Zone 3) Securitisation of Assets 4)
programme. Acquisition of Overseas Companies 5) Transfer Pricing 6) Corporate

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
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- (d) Elements of Business Laws and Management
section (2) of section 15 of the Company Secretaries Act, 1980 [as (2) The syllabus for the Foundation Programme Examination is
amended by the Company Secretaries (Amendment) Act, 2006], annexed (Annexure 1). The first Foundation Programme
approved the new Syllabus at its 174th meeting held on 18-19th August, Examination for the students mentioned at (1) above will be held
2007 and decided as under : from and including December, 2008.
1. Nomenclature for the different stages of CS Course will be as (3) Qualifying Marks : A candidate shall be declared to have passed
follows: in the Foundation Programme examination if he obtains at one
1. Foundation Programme in place of Foundation Course sitting a minimum of forty per cent marks in each paper and fifty
2. Executive Programme in place of Intermediate Course per cent marks in the aggregate of all papers put together :
3. Professional Programme in place of Final Course Provided that a candidate who has appeared in all the papers for
2. For the term Group, the term Module be used. which he/she was enrolled and has obtained sixty per cent marks
3. Scheme of papers at each stage will be as follows : or above in any paper(s), but failed in aggregate, shall be declared
to have passed in the subsequent examination, if he/she obtains
Foundation Programme
a minimum of forty per cent marks in each of the remaining
1. English and Business Communication paper(s) and fifty per cent marks in the aggregate of the remaining
2. Economics and Statistics papers at one sitting within the next three following examinations.
3. Financial Accounting (4) A candidate shall be exempted from appearing in the individual
4. Elements of Business Laws and Management papers on the basis of exemption from individual papers previously
Executive Programme secured by him under the syllabus specified in Part I of Schedule
CCB to the Company Secretaries Regulations, 1982 on his/her
Module I
switch over to the syllabus specified at (2) above.
1. General and Commercial Laws
Papers passed/exempted Exemption from Papers under
2. Company Accounts, Cost and Management Accounting under the syllabus specified the syllabus specified in Annexure
3. Tax Laws in Part I of Schedule CCB of I for Foundation Programme
Module II Company Secretaries effective from 1st November,
4. Company Law Regulations, 1982 2007
5. Economic and Labour Laws 1. English & Business English & Business
6. Securities Laws and Compliances Communication Communication
Professional Programme 2. Basic Economics and Economics and Statistics
Module I Business Environment
1. Company Secretarial Practice 3. Financial Accounting Financial Accounting
2. Drafting, Appearances and Pleadings 4. Elements of Business Elements of Business Laws
Laws and Management and Management
Module II
5. Information Systems and Economics and Statistics
3. Financial, Treasury and Forex Management
Quantitative Techniques
4. Corporate Restructuring and Insolvency
Module III (5) The last Foundation Examination under the existing syllabus
specified in Part I of Schedule CCB shall be held in June 2009
5. Strategic Management, Alliances and International Trade
and the syllabus specified in the said Part I of Schedule CCB
6. Advanced Tax Laws and Practice shall cease to operate after the said examination.
Module IV Executive Programme Examination
7. Due Diligence and Corporate Compliance Management (6) The candidates registered effective on or after 1st February, 2008,
8. Governance, Business Ethics and Sustainability candidates registered prior to the 1st February, 2008, and who
4. The implementation of the new syllabus will be as may so opt, shall be examined in the Executive Programme
follows : examination to be held from and including December 2008 in six
Foundation Programme Examination papers, comprised in two modules of three papers each as under:
( 1) The candidates enrolled on or after 1st November, 2007 for the Module I
Foundation Programme and the candidates enrolled prior to 1st 1. General and Commercial Laws
November, 2007, who may so opt, shall be examined in the 2. Company Accounts, Cost and Management Accounting
Foundation Programme Examination to be held from and including
3. Tax Laws
December, 2008 in the following papers, namely,
Module II
(a) English and Business Communication;
4. Company Law
(b) Economics and Statistics;
5. Economic and Labour Laws
(c) Financial Accounting; and
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,

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

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

determination and equilibrium of firm and industry under perfect commercial laws, the knowledge of which is essential for an
competition, monopoly and monopolistic competition. understanding of the legal implications of the general activities
5. Basic characteristics of Indian Economy of a modern business organisation.
Role of Agriculture, Industry & Service Sectors in the development of (ii) To acquaint the students with the principles of management.
the Indian Economy; National income of India Concept, significance, Detailed contents :
trends and measurement of national income.
Part A : Elements of Business Laws (50 Marks)
6. Select Areas of Indian Economy
Population size and growth and impact of population on economic 1. Law
development; unemployment nature, various measures to reduce it; Meaning of law, its significance and relevance to modern civilized
foreign trade and Indias balance of payments. Five Year Plans and society; sources of law.
economic development; fiscal policy and national budget.
2. Law relating to Contract An Overview
7. Money and Banking
Contract - meaning; essentials of a valid contract; nature of contract;
Concept of money its functions; Commercial Banks role and
performance of contract; termination and discharge of contract;
functions; quantity theory of money; credit creation; Reserve Bank of
India and its functions and monetary policy. indemnity and guarantee; bailment and pledge; law of agency.
8. Economic Reforms and Liberalisation 3. Law relating to Sale of Goods An Overview
Major economic reforms since 1991; Globalisation and its impact on Essentials of a contract of sale; sale distinguished from agreement to
Indian Economy; concept of WTO- an overview. sell ; bailment ; contract for work and labour and hire-purchase ; conditions
Part B : Statistics (50 Marks) and warranties; transfer of title by non-owners ; doctrine of caveat
9. Descriptive Statistics : Definition and functions of statistics, emptor ; performance of the contract of sale ; unpaid seller - his rights
statistical techniques commonly used in business activities, law of against the goods and the buyer.
statistics, limitations of statistics. 4. Law relating to Negotiable Instruments An Overview
10. Collection and Presentation of Statistical Data : Primary and Definition of a negotiable instrument; instruments negotiable by law
secondary data; Classification and, tabulation of data; frequency and by custom; types of negotiable instruments; parties to a negotiable
distribution of data; diagrams and graphs.
instrument - duties, rights, liabilities and discharge; material alteration;
11. Measures of Central Tendency: Mean, median and mode, crossing of cheques; payment and collection of cheques and demand
geometric mean and harmonic mean. drafts; presumption of law as to negotiable instruments.
12. Measures of Dispersion: Range, quartile deviation, mean
5. Law relating to Partnership An Overview
deviation, standard deviation.
13. Correlation Analysis: Meaning, significance, nature and types of Nature of partnership and certain similar organisations; co-ownership;
correlation; Karl Pearsons coefficient of correlation; rank correlation. Joint Hindu Family; partnership deed; rights and liabilities of partners
14. Index numbers and Time Series Analysis : Familiarisation with including those of newly admitted partners, retiring and deceased
the concepts relating to index numbers and time series (Simple partners; implied authority of partners and its scope; registration of
Numerical Problems). firms; dissolution of firms and of the partnership.
PAPER 3 : FINANCIAL ACCOUNTING 6. Elements of Company Law
Level of knowledge : Basic knowledge Meaning and nature of company; promotion and incorporation of a
Objective : To familiarize and develop an understanding the skills of company; familiarisation with the concept of Board of directors,
accounting principles for effective recording of business operations of shareholders and company meetings; Company Secretary.
an entity.
Part B : Elements of Management (50 Marks)
Detailed Contents :
7. Nature of Management and its Process
1. Introduction to accounting
2. Recording of transactions Meaning; nature of management and its process; planning, organising;
3. Preparation of bank reconciliation statement directing; coordination and controlling.
4. Rectification of errors 8. Planning
5. Preparation of final accounts (non-corporate entities) Policies and procedures; methods of planning; decision-making.
6. Accounting for depreciation
9. Organising
7. Accounting for bills of exchange
8. Accounts of non-profit organizations Structure; principles and theories of organisation; span of management;
9. Single entry accounts - preparation of accounts from centralisation and de-centralisation; line and staff functions; delegation;
incomplete records functional organisation; formal and informal organisation; growth in
10. Accounting for consignments and joint ventures organisation.
11. Partnership accounts simple problems 10. Staffing
12. Insurance claims Meaning; nature and functions of personnel management; selection,
PAPER 4 : ELEMENTS OF BUSINESS LAWS training and development; performance appraisal.
AND MANAGEMENT 11. Direction and Co-ordination
Level of knowledge : Basic knowledge
Communication; motivation, morale and leadership; internal and
Objectives : external co-ordination; committees in management; management of
(i) To give an exposure to the students of some of the important change; organisation development (O.D.).

12. Controlling stay of suits, res judicata, suits by companies, minors, basic
Concepts and basic control process; essentials of a good control understanding of summary proceedings, appeals, reference, review
system; traditional and non-traditional control devices. and revision.
13. Social Responsibility of Business. 9. Criminal Procedure Code
Offences; mens rea, cognizable and non-cognizable offences, bail,
ANNEXURE II continuing offences, searches, limitation for taking cognizance of certain
offences.
DETAILED COURSE CONTENTS UNDER
10. Law relating to Right to Information
THE EXECUTIVE PROGRAMME
Salient features of the Right to Information (RTI) Act, 2005; Objective;
Each paper will be of three hours duration and will carry 100 marks.
Public Authorities & their obligations ; Designation of Public Information
The medium of writing the examination will be English; provided that it
Officers (PIO) and their Duties; Request for obtaining information;
shall be competent for the Council to permit, subject to such conditions
Exemption from disclosure; Who is excluded; Information Commissions
as it may deem fit and after giving sufficient advance information to
(Central & State) and their powers; appellate authorities; penalties;
the candidates, the use of Hindi as a medium of writing for any particular
jurisdiction of Courts; Role of Central/State Governments.
subject(s). Candidates are expected to be conversant with the
amendments to the laws made upto six months preceding the date of PAPER 2 : COMPANY ACCOUNTS, COST AND MANAGEMENT
examinations. ACCOUNTING
EXECUTIVE PROGRAMME Level of knowledge : Working knowledge.
MODULE I Objectives :
PAPER 1 : GENERAL AND COMMERCIAL LAWS (i) To provide working knowledge of accounting principles and
procedures for companies in accordance with the statutory
Level of knowledge : Working knowledge requirements.
Objective : To provide to the students basic understanding of some (ii) To acquaint the students with cost and management
of the general and commercial laws which have a bearing on the accounting techniques and practices.
conduct of the corporate affairs.
Detailed contents :
Detailed contents :
Part A : Company Accounts (50 Marks)
1. Constitution of India
1. Accounting standards - relevance and significance; national and
Broad framework of the Constitution of India; fundamental rights; international accounting standards.
directive principles of state policy; ordinance making powers of the
President and the Governors; legislative powers of the Union and the 2. Accounting for share capital transactions - issue of shares at par, at
States; freedom of trade, commerce and intercourse; constitutional premium and at discount; forfeiture and re-issue of shares; buy-back of
provisions relating to State monopoly; judiciary; writ jurisdiction of High shares; redemption of preference shares; rights issue.
Courts and the Supreme Court; different types of writs - habeas corpus, 3. Issue of debentures - accounting treatment and procedures;
mandamus, prohibition, quo warranto and certiorari; Concept of redemption of debentures; conversion of debentures into shares.
delegated legislation. 4. Underwriting of issues ; acquisition of business ; profits prior to
2. Interpretation of Statutes incorporation ; treatment of preliminary expenses.
Need for interpretation of a statute; general principles of interpretation 5. Preparation and presentation of final accounts of joint stock
- internal and external aids to interpretation; primary and other rules. companies as per company law requirements; bonus shares.
3. An Overview of Law relating to Specific Relief; Arbitration and 6. Holding and subsidiary companies - accounting treatment and
Conciliation; Torts; Limitation and Evidence. disclosures; consolidation of accounts.
4. Law relating to Transfer of Property 7. Valuation of shares and intangible assets.
Part B : Cost And Management Accounting (50 Marks)
Important definitions; movable and immovable property; properties which
cannot be transferred; rule against perpetuities; lis pendens; provisions 8. Cost accounting objectives of costing system; cost concepts and
relating to sale, mortgage, charge, lease, gift and actionable claim. cost classification; management accounting nature and scope; role
of management accountant, tools and techniques of management
5. Law relating to Stamps
accounting; distinction between financial accounting, cost accounting
Methods of stamping; consequences of non-stamping and under- and management accounting.
stamping; impounding of instruments; construction of instruments for 9. Elements of cost :
determination of stamp duty payable; adjudication; allowance and
(i) Material cost purchase procedures, store keeping and
refund; penal provisions.
inventory control, fixing of minimum, maximum and re-order
6. Law relating to Registration of Documents levels, ABC analysis, pricing of receipts and issue of material
Registrable documents - compulsory and optional; time and place of and accounting thereof; accounting and control of wastage,
registration; consequences of non-registration; description of property; spoilage and defectives.
miscellaneous provisions. (ii) Labour cost classification of labour costs, payroll
7. Information Technology Law - An Overview procedures, monetary and non-monetary incentive schemes;
Important terms under Information technology legislation; digital labour turnover and remedial measures; treatment of idle time
signatures; electronic records; certifying authority; digital signature and overtime.
certificate; Cyber Regulation Appellate Tribunal; offences and penalties. (iii) Direct expenses nature, collection and classification of direct
8. Code of Civil Procedure expenses and its treatment.
Elementary knowledge of the structure of civil courts, their jurisdiction, (iv) Overheads nature, classification, collection, allocation,
basic understanding of certain terms - order, judgement and decree, apportionment, absorption and control of overheads.

10. Methods of costing - unit costing, contract costing. from tax; valuation of assets; computation of net wealth, return of
11. Budgetary control preparation of various types of budgets, wealth and provisions concerning assessment.
advantages and limitations; budgetary control reports to management. Part B (20 Marks)
12. Marginal costing - application of marginal costing; cost-volume- Service Tax
profit relationship; break-even analysis, preparation of break-even 13. Background, Statutory provisions, taxable services, valuation,
charts; profit volume graph; practical application of profit volume administrative mechanism and procedural aspects, rate and
ratio. computation of tax.
13. Analysis and interpretation of financial statements - nature, 14. Assessment, levy, collection and payment of service tax,
objectives; latest trends in presenting financial data; importance and exemptions, CENVAT credit for service tax, returns, appeals,
limitations; accounting ratios - classification, advantages and limitations. revisions, advance rulings, role of Practising Company
14. Cash flow statements classification of cash flows, preparation Secretaries.
and usefulness. Part C (20 Marks)
PAPER 3 : TAX LAWS Value Added Tax
Level of knowledge : Working knowledge. 15. Legislative background, concept of VAT - white paper on VAT,
Objectives : Report of Empowered Committee of State Finance Ministers,
(i) To impart knowledge of the basic principles underlying the constitutional provisions, relationship of VAT with inter-state
substantive provisions of income-tax, wealth tax, service tax commerce and works contract tax, liability under VAT; withdrawal
and value added tax laws to the students. of Central Sales Tax; Goods and Service Tax; .
(ii) To equip students with application of principles and provisions 16. Computation, procedural aspects including registration, filling of
of above tax laws in computation of income and taxation of a returns, rates of tax, assessment, credit and set-off, returns,
person excluding companies under various heads of income refunds, audit, appeals, revision and appearances.
and their assessment procedures. 17. Appointment, jurisdiction and powers of authorities, certifications
Detailed contents : for professionals.
Part A (60 Marks) 18. Concept of VAT on services, VAT in other countries, scope for
Company Secretaries.
The Income-tax Act
MODULE II
1 Definitions, concept of income, previous year, assessment year,
residential status. PAPER 4 : COMPANY LAW
2. Distinction between capital and revenue receipts and expenditure. Level of knowledge : Expert knowledge.
3. Basis of charge and scope of total income (Incomes deemed to Objective : To develop an understanding of the regulation of companies
accrue or arise in India and deemed to be received in India). and to provide thorough knowledge of the various provisions of the
Company Law in India as well as Schedules and Rules made
4. Incomes which do not form part of total income. thereunder including their interpretation through case laws,
5. Computation of total income under various heads, such as - departmental circulars, clarifications, notifications, etc.
salaries, income from house property, profit and gains of business Detailed contents :
or profession, capital gains, income from other sources.
1. Introduction
6. Income of other persons included in assessees total income;
Nature and form of business enterprise ; types of business enterprises;
aggregation of income and set off or carry forward of losses;
company definition and nature.
various deductions to be made in computing total income, rebates
and reliefs; applicable rates of taxes and tax liability. Historical development of corporate concepts ; emergence of principles
of limited liability and development of Company Law in England and
7. Taxation of every person excluding companies, viz., individuals India.
including non-residents, Hindu Undivided Family, firms,
association of persons, cooperative societies, trusts and charitable Concept of corporate personality; corporate veil and its lifting.
and religious institutions, etc. Working and administration of Company Law.
8. Provisions concerning procedure for filing returns, signatures, e- 2. Incorporation and its Consequences
filing, assessment and reassessment. Types of companies and their incorporation; memorandum and articles
9. Tax deducted at source, collection, recovery and refund of tax; of association and their alteration; registered office; publication of name;
provisions of advance tax. commencement of business; contracts; deeds; common seal; effect
of incorporation.
10. Charge of banking cash transaction tax, taxable banking
transaction, value of taxable banking transaction, collection, Re-registration and registration of unregistered joint-stock companies.
recovery, return, assessment, rectification, interest on delayed The doctrine of ultra-vires, constructive notice and indoor management.
payments, penalty, appeal, power to make rules.
Promoters - meaning and importance; position, duties and liabilities.
11. Charge of fringe benefit tax, fringe benefits and deemed fringe 3. Financial Structure
benefits, valuation, payment and return of fringe benefits,
assessment, issue of notice, advance tax in respect of fringe Concept of capital and financing of companies, sources of capital;
benefits. classes and types of shares; equity with differential rights; issue of
shares at par, premium and discount; forfeiture and surrender of shares;
12. Wealth Tax bonus issues; rights issues; issue of sweat equity shares; employees
Charge of wealth tax; assets; deemed assets and assets exempt stock option scheme; private placement.

Alteration of share capital; reduction of capital; buy-back of shares. 10. Registers and Returns maintenance, authentication,
Debt capital - debentures, debenture stock, bonds; new developments presentation and inspection of statutory books/registers prescribed
in corporate debt financing; debenture trust deed and trustees; under various provisions of the company law and filing of various forms/
conversion of and redemption of debentures. returns to Registrar of Companies; procedure and penalties for delayed
filing, etc.
Securing of debts creation, modification and satisfaction of charges.
Annual Return - Nature and significance ; contents ; filling preparation
Prospectus definition; abridged prospectus; red-herring prospectus;
and disclosures; signing, certification and filing; maintenance, place
shelf prospectus; information memorandum; contents, registration,
of keeping and its inspection.
misrepresentations and penalties.
Allotment and certificates - contracts to subscribe for shares, 11. Inspection and Investigation
debentures and other securities; calls; share certificates and share Inspection of documents, books of account, registers etc; powers of
warrants. the inspector, seizure of books and documents, inspectors report;
4. Membership, Depositories and Transfer/Transmission power of the Registrar of Companies, investigation into affairs of the
company.
Membership - modes of acquiring membership; rights and privileges
of members, register of members; dematerialisation and 12. Majority Rule and Minority Rights
rematerialisation of securities; transfer and transmission of securities Law relating to majority powers and minority rights.
in physical and depository modes; nomination. Shareholder remedies - actions by shareholders; statutory remedies;
5. Management and Control of Companies personal actions; prevention of oppression and mis-management.
Directors appointment/re-appointment, qualifications, 13. Compromises and Arrangements an overview.
disqualifications, remuneration, vacation of office, retirement, 14. Societies, Co-operative Societies, Trusts, Producer Companies
resignation and removal; loans to directors; powers and duties; office and Limited Liability Partnerships
or place of profit; role of directors; contracts in which directors are
Concept, formation, membership, functioning and dissolution.
interested.
15. Application of Company Law to Different Sectors such as
Managing and whole-time directors and manager.
Banking, Insurance, etc.
Company secretary appointment, role and responsibilities; company
16. Offences and Penalties an overview.
secretary as a principal officer.
17. Striking off Name of Companies.
Meetings of directors and committees - frequency, convening, and
proceedings of Board /Committee meetings; tele and video- Concept.
conferencing of Board/Committee(s); resolution by circulation; minutes 18. Winding up of Companies
and evidence.
Concept and modes.
General meetings - kinds of meetings; law, practice and procedure
19. An Introduction to E-governance
relating to convening and proceedings at general and other meetings
notice, quorum, proxy, voting including voting through electronic PAPER 5 : ECONOMIC AND LABOUR LAWS
means, resolutions, circulation of members resolution, etc.; postal Level of knowledge : Working knowledge.
ballot; recording, signing and inspection of minutes; role of chairman. Objective : To provide an understanding of
Distribution of powers of a company - division of powers between Board (i) certain economic laws; and
and general meetings; acts by directors in excess of authority;
monitoring and management. (ii) important labour laws which have direct relevance to the
functioning of companies.
Sole Selling and Buying Agents - Meaning, appointment and
reappointment, removal; powers of Central Government and rules Detailed contents :
framed for the purpose. Part A : Economic Laws (60 Marks)
6. Dividend 1. Industries Development and Regulation
Profit and ascertainment of divisible profits; declaration and payment of Objects and definitions - an overview of current Industrial Policy;
dividend; treatment of unpaid and unclaimed dividend; transfer of unpaid regulatory mechanism under IDRA. The Micro, Small and Medium
and unclaimed dividend to Investor Education and Protection Fund. Enterprises Development Act, 2006.
7. Investments, Loans and Deposits 2. Foreign Trade Policy and Procedures
Law relating to making investments in and granting loans to other bodies Main features; served from India scheme; export promotion council;
corporate and giving guarantees and providing security. vishesh krishi and gram udyog yojana; focus market scheme; duty
Invitation, acceptance, renewal, repayment, default and remedies. exemption and remission schemes; advance authorisation scheme and
DFRC, DEPB, EPCG, etc; EOUs, EHTPs, STPs, BPTs and SEZs.
8. Accounts and Audit
3. Trade, Competition and Consumer Protection
Books of account; financial statements; audit and auditors report;
powers of the Central Government to direct special audit; cost audit. Concept of competition, development of competition law, overview of
MRTP Act; Competition Act, 2002 - anti competitive agreements, abuse
Auditors - appointment, resignation and removal; qualification and of dominant position, combination, regulation of combinations,
disqualification; rights, duties and liabilities. Competition Commission of India; Appearance before Commission,
9. Boards Report and Disclosures preparation; disclosures; compliance of Competition Law.
directors responsibility statement. Consumer protection in India, genesis of the law; objects; rights of
Compliance certificate need and purpose; issue and signing by consumers; nature and scope of remedies; appearance before
practising company secretary; disclosure and filing. Consumer Dispute Redressal Forums.

4. Essential Commodities and Standards of Weights and Measures 18. Factories Act, 1948
Objects; powers of Central Government, seizure and confiscation of Object, scope and major provisions; Authorities, compliances and
essential commodities; summary trial; Standards of Weights and penalties.
Measures Act, 1976. PAPER 6 : SECURITIES LAWS AND COMPLIANCES
5. Management of Foreign Exchange Transactions Level of knowledge : Expert knowledge
Objectives and definitions under FEMA. Current account transactions, Objective: To provide expert knowledge and understanding of
Capital account transactions, foreign direct investment in India and securities laws and the regulatory framework concerning capital markets
abroad, acquisition and transfer of immovable property; Establishment in India.
in India of branch, office etc; Export of goods and services; Realisation Detailed contents :
and repatriation of foreign exchange, authorised person, penalties and
Part A : Securities Laws (60 Marks)
enforcement.
1. An Overview of Legal and Regulatory Framework
Foreign contributions and hospitality; Exemptions, powers of Central
Government, adjudication and appeal; offences and penalties. Capital market regulatory framework Securities Contracts (Regulation)
6. Pollution Control and Environmental Protection Act, 1956; SEBI Act, 1992; Depositories Act, 1996; authorities
governing capital markets; objective, power and functions of SEBI;
Concept of sustainable development, Government policy regarding
Securities Appellate Tribunal, appearance before SAT.
environment, law relating to Prevention and Control of Air Pollution
and Water pollution, Environment (Protection) Law; Appearance before Profile of securities market; securities market reforms and regulatory
Environment Tribunal/Authority. measures to promote investor confidence; growth of money market in
India structure and institutional mechanism.
7. Management of Intellectual Property Rights
2. Capital Market Instruments and Rating
Concept and development of intellectual property law in India. Law
and procedure relating to patents, trade marks and copyrights; Overview Capital market instruments - equity, debentures, preference shares,
of laws relating to other related intellectual property rights. sweat equity, non-voting shares ; new instruments of capital market -
Intellectual Property Appellate Board pure, hybrid and derivatives; money market instruments - treasury bills,
commercial bills, commercial paper, participatory notes; rating and
8. Prevention of Money Laundering
grading of instruments; concept, scope and significance; regulatory
Genesis, concept and definitions, various transactions, etc. obligations framework; rating agencies in India, rating methodologies.
of banks and financial institutions, RBI Guidelines on KYC.
3. Capital Market Intermediaries
Part - B : Labour Laws (40 Marks)
Primary market and secondary market intermediaries - role and
9. Minimum Wages Act, 1948
functions, merchant bankers, stock brokers, registrars to an issue,
Object and scope; Minimum Wages Act, Advisory Board, Central underwriters, bankers to issue, portfolio managers, debenture- trustees,
Advisory Board; Authority and claims, compliances, offences and foreign Institutional investors etc., self regulatory organisations,
penalties. guidelines on anti money laundering; surveillance; holding of enquiry.
10. Payment of Bonus Act, 1965 4. Secondary Market Institutions
Object, application and major provisions; Exemption; compliances, Functions and significance of stock exchanges; regulatory framework;
offences and penalties.
operations and trading mechanism of stock exchanges; Settlement of
11. Payment of Gratuity Act, 1972 securities, surveillance mechanism at stock exchanges, straight through
Application and major provisions ; Controlling Authority and the processing, demutualisation of stock exchanges.
Appellate Authority, obligations and rights of employers and employees 5. Mutual Funds
and compliances.
Introduction, definitions, types, risks involved, setting up of mutual fund;
12. Employees Provident Funds and Miscellaneous Provisions concept of Trustee and Asset Management Company; regulatory
Act, 1952 framework.
Application and major provisions; Exemption and compliances. 6. Venture Capital
13. Employees State Insurance Act, 1948 Concept of venture capital, regulatory framework, registration,
Application and major provisions; Employees State Insurance, investment conditions and restrictions, foreign venture capital investors,
Employees State Insurance Corporation, Employees Insurance Court; private capital funds.
Exemptions and compliances. 7. Collective Investment Schemes
14. Workmens Compensation Act, 1923 Regulatory framework governing collective investment schemes,
Object, scope and major provisions including proceedings before the restrictions on business activities, submission of information and
Commissioner, appeals, compliances, penalties, special provisions. documents, trustees and their obligations.
15. Contract Labour (Regulation and Abolition) Act, 1970 8. Buy-Back of Securities
Application, scope and major provisions including Advisory boards, Objectives of buy-back; available sources for buy-back of securities;
registration of establishments, appointment of licensing officer; Welfare conditions to be fulfilled and obligations for buy-back of securities of
and health; compliances; penalties and procedure and inspectors. both listed and unlisted companies; pricing for buy back; modes of
16. Industrial Disputes Act, 1947 buy-back.
Concept, objective, and significance, Authorities; procedure and 9. Depository System
powers; unfair labour practices, penalties.
Overview of depository system in India; Depositories
17. Industrial Employment (Standing Orders) Act, 1946 Act; definitions, setting up of depository; role and functions of
Object, scope and major provisions of the Act and compliances. depository; depository participants; inspection and penalties; internal
audit and concurrent audit of depository participants.

Part B : Issue Management And Compliances (40 Marks) alteration of share capital; procedure for forfeiture of shares and re-
10. Issue of Capital issue of forfeited shares; cancellation of shares; surrender of shares;
conversion and re-conversion of shares into stock.
Listing of securities; SEBI Guidelines for Disclosure and Investor
Protection (DIP), procedure for issue of various types of shares and Procedure for issue of debentures including creation of security and
debentures, employee stock option scheme; and employee stock debenture redemption reserve; drafting of debenture trust deed;
purchase scheme, delising of securities. conversion of and redemption of debentures.
11. Resource Mobilisation in International Capital Market 5. Membership and Transfer/Transmission
Listing of securities issued outside India - Foreign Currency Convertible Procedure for induction of members; nomination of shares; variation
Bonds, Global Depository Receipts, American Depository Receipts; of shareholders rights; cessation of membership including dispute
External Commercial Borrowings, procedure for issue of various resolution.
instruments. Transfer/transmission/transposition ; dematerialization/
12. Indian Depository Receipts rematerialisation of securities.
Indian Depository Receipts, procedure for making an issue of IDRs; 6. Directors and Managerial Personnel
conditions for issue of IDRs; listing of IDRs. Procedure for appointment, reappointment, resignation, removal and
varying terms of appointment/ re-appointment of directors and
ANNEXURE III
managerial personnel.
DETAILED COURSE CONTENTS UNDER Procedure for payment of remuneration to directors and managerial
THE PROFESSIONAL PROGRAMME personnel and disclosures thereof; compensation for loss of office;
Each paper will be of three hours duration and will carry 100 marks. waiver of recovery of remuneration; directors and officers liability
The medium of writing the examination will be English; provided that it insurance.
shall be competent for the Council to permit, subject to such conditions Procedure for making loans to directors, disclosure of interest by a
as it may deem fit and after giving sufficient advance information to director, holding of office or place of profit by a director/relative, etc. of
the candidates, the use of Hindi as a medium of writing for any particular a director.
subject(s). Candidates are expected to be conversant with the
Company Secretary Appointment, resignation and removal of
amendments to the laws made upto six months preceding the date of
Company Secretary; role of the Company Secretary; functions and
examinations.
duties; relationship with chairman and directors; secretary as advisor
PROFESSIONAL PROGRAMME to the chairman and the board.
MODULE I Company Secretary in Practice Functions ; procedure for
PAPER 1: COMPANY SECRETARIAL PRACTICE appointment, resignation and removal of company secretary in practice.
Level of knowledge : Expert knowledge. Auditors
Objective : To provide an in-depth understanding of the procedures Procedure for appointment/reappointment, resignation and removal
under the Companies Act, Rules and Regulations made thereunder of statutory auditors and branch auditors; appointment of cost auditors;
including understanding of international dimensions of company law. special auditors; CAG audit.
Detailed contents : 7. Decision-making Forums and Meetings
1. E-governance (MCA 21) Collective decision making forums - authority, accountability, delegation
and responsibility.
Important Features of MCA-21 CIN, DIN, DSC, CFC, SRN, etc; E-
forms and on-line filing and inspection of documents. Board Meetings - Convening and management of Board and Committee
Meetings.
2. Company Formation and Conversion
General Meetings - convening and management of statutory meeting,
Choice of form of business entity; conversion/ re-conversion of one
annual and extra-ordinary general meetings, class meetings;
form of business entity into another.
preparation of notices and agenda papers.
Procedure for incorporation of private/public companies, companies
Procedure for passing of resolutions by postal ballot, conducting a poll
limited by guarantee and unlimited companies and their conversions/
and adjournment of a meeting.
re-conversion/re-registration; obtaining certificate of commencement
of business; obtaining certification of re-registration; commencement Post-meeting formalities including preparation of minutes and
of new business and certification; filing of agreements with managerial dissemination of information and decisions including filing thereof.
personnel; 8. Preparation & Presentation of Reports
Formation of associations not for profit and non profit companies; Preparation of financial statements, auditors report, directors report
procedure relating to foreign companies carrying on business in India. and report on corporate governance.
3. Alteration of Memorandum and Articles 9. Distribution of Profit
Procedure for alteration of various clauses of memorandum: name Procedure for ascertainment of divisible profits and declaration of
clause, situation of registered office clause, objects clause, capital clause dividend; payment of dividend; claiming of unclaimed/unpaid dividend;
and liability clause; procedure for alteration of articles; effect of alteration. transfer of unpaid/unclaimed dividend to Investor Education and
Protection Fund.
4. Issue and Allotment of Securities
10. Charges
Procedure for public issue, rights issue and bonus shares; procedure
for issue of securities at par/premium/discount; procedure for calls on Procedure for creation/modification/satisfaction of charges and
shares; Issue of sweat equity shares, employees stock option scheme, registration thereof; register of charges; inspection of charges.
shares with differential voting rights; issue and redemption of preference 11. Inter-corporate Loans, Investments, Guarantees and Security
shares; issue of shares on preferential basis/private placement. Procedure for making inter-corporate loans, investments, giving of
Return of allotment and effect of irregular allotment; issue of certificates; guarantees and providing of security.

12. Filling and Filing of Returns and Documents, etc. (ii) To provide knowledge of derivatives, forex and treasury
Procedure for filling and filing of returns and documents : management to enable the candidates to tackle practical
(a) Annual filing, i.e., annual accounts, compliance certificate, situation with ease.
annual return, etc. Detailed contents :
(b) Event based filing. 1. Nature and Scope of Financial Management
13. Striking off Names of Companies Law and Procedure. Nature, significance, objectives and scope of financial management;
14. Best Practices - Secretarial Standards risk-return and value of the firm; financial distress and insolvency;
financial sector reforms and their impact on financial management;
Concept, scope and advantages; Secretarial Standards issued by the functions of finance executive in an organisation; financial management
ICSI; Compliance of secretarial standards for good governance. recent developments.
15. Insider Trading 2. Capital Budgeting Decisions
Concept and rationale behind prohibition of insider trading; SEBIs Planning and control of capital expenditure; capital budgeting process;
Insider Trading Regulations; major actions taken by SEBI so far; Role techniques of capital budgeting- discounted and non-discounted cash
of Company Secretary in compliance requirements. flow methods, choice of methods; capital rationing; risk evaluation and
16. Global Developments in Company Law sensitivity analysis, simulation for risk evaluation; linear programming
Contemporary developments, distinguishing and evolving features of and capital budgeting decisions.
company law in other jurisdictions. 3. Capital Structure Decisions
PAPER 2 : DRAFTING, APPEARANCES AND PLEADINGS Meaning and significance of capital structure; capital structure vis-a-
Level of knowledge : Working knowledge. vis financial structure; capital structure planning and designing; optimal
Objective : To acquaint the students with fundamentals of drafting, capital structure; determinants of capital structure; capital structure
pleadings and advocacy techniques. and valuation - theoretical analysis; EBIT EPS analysis; cost of capital;
factors affecting cost of capital, measurement of cost of capital,
Detailed contents
weighted average cost of capital, marginal cost of capital; risk and
1. General Principles of Drafting leverage; measures of leverage, leverage effects on shareholders
General principles and rules of drafting of deeds and conveyance, returns.
basic components of deeds, endorsement and supplemental deeds, 4. Sources of Finance
aids to clarity and accuracy, legal requirements and implications.
Equity, non-voting preference shares; debentures and bonds;
2. Drafting of Agreements company deposits; term loans from financial institutions and banks;
Drafting of various Agreements including collaboration agreements, international finance and syndication of loans; euro-issues and
arbitration; guarantees, counter guarantees; bank guarantee, external commercial borrowings; FCCB; internal funds as a source
hypothecation agreement, outsourcing agreements, service of finance; dividend policy and retention of profits; bonus shares;
agreements, leave and license, etc. deferred payment arrangements; corporate taxation and its impact
3. Drafting of Various Deeds on corporate financing; financing cost escalation.
Deed of sale of land, building, mortgage, licence, lease, assignment, 5. Dividend Policy
trust, partnership, Power of Attorney, etc. Introduction; types, determinants and constraints of dividend policy;
4. Drafting of Agreements under the Companies Act different dividend theories Walters Model, Gordons Model and
Modigliani-Miller Hypothesis of dividend irrelevance; forms of dividend;
Pre incorporation contracts; Memorandum and Articles of Association
dividend policy - practical considerations and legal constraints;
and other agreements.
corporate dividend practices in India; statutory framework.
5. Appearances and Pleadings
6. Working Capital Management and Control
Appearance before tribunals/quasi judicial bodies such as CLB, SAT,
Working capital - meaning, types, determinants; assessment of working
NCLT, CCI TRAI, etc. and appellate authorities. capital requirements - operating cycle concept and applications of
Drafting of petitions/applications; drafting of written statement, counter quantitative techniques; management of working capital - cash,
affidavit, reply and rejoinder. receivables, inventories; financing of working capital; banking norms
Drafting of Affidavit in evidence ; arguments on preliminary submissions, and macro aspects of working capital management.
arguments on merits ; legal pleadings and written submissions. 7. Security Analysis and Portfolio Management
Drafting and filing of Appeals, writ petitions, special leave petition, Security analysis - fundamental approach, technical approach and
revision and review applications, affidavits. efficient capital market theory; portfolio management - meaning,
Dress code, etiquettes and court craft. objectives; portfolio theory traditional approach; modern approach -
6. Compounding of Offences CAPM model.
Compounding of offences under the Companies Act, SEBI Act, FEMA 8. Financial Services
etc. Consent Orders. Meaning, significance and scope of financial services ; types of financial
services merchant banking, leasing and hire purchase, venture
MODULE II
capital, mutual funds, factoring and forfeiting, securitisation of debt,
PAPER 3 : FINANCIAL, TREASURY AND FOREX loan syndication, custodial and corporate advisory services, credit
MANAGEMENT rating.
Level of knowledge : Expert knowledge. 9. Project Planning and Control
Objectives : Project Planning and preparation of project report; project appraisal
(i) To provide conceptual clarity about the management tools under normal, inflationary and deflationary conditions; project appraisal
and techniques used in financial planning, analysis, control by financial institutions lending policies and appraisal norms by
and decision making. financial institutions and banks; loan documentation and loan

syndication, project review and control; social cost and benefit analysis ECBs, funding through financial institutions and banks; rehabilitation
of project. finance; management buyouts/leveraged buyouts.
10. Derivatives and Commodity Exchanges 6. Valuation of Shares and Business
Concept of derivatives; financial derivatives and commodity derivatives; Introduction; need and purpose; factors influencing valuation; methods
types of derivatives - forward contracts, futures contracts, options; of valuation of shares; corporate and business valuation.
participants in futures and options market, Index based derivatives 7. Corporate Demergers and Reverse Mergers
and security based derivatives; derivatives and exposure management, Concept of demerger; modes of demerger - by agreement, under
currency forwards, currency futures, currency options and currency scheme of arrangement; demerger and voluntary winding up; legal
swaps and interest rate risk management; derivative markets in India; and procedural aspects; tax aspects and reliefs; reverse mergers
commodity exchanges in India. procedural aspects and tax implications.
11. Treasury Management 8. Post Merger Re-organisation
Meaning, objectives, significance, functions and scope of treasury Factors in post merger reorganization: integration of businesses and
management; relationship between treasury management and financial operations, financial accounting, taxation, post merger valuation,
management; role and responsibilities of chief finance executive; tools human and cultural aspects; assessing accomplishment of post merger
of treasury management; internal treasury controls; environment for objectives; measuring post merger efficiency.
treasury management; role of information technology in treasury
9. Financial Restructuring
management; liquidity management, regulation, supervision and control
of treasury operations, implications of treasury on international banking. Reduction of capital; reorganisation of share capital
12. Forex Management Buy-back of shares concept and necessity; procedure for buy-back
of shares by listed and unlisted companies.
Nature, significance and scope of forex management; foreign exchange
market and its structure; foreign exchange rates and its determination; 10. Legal Documentation.
exchange rate quotes; types of exchange rates; forex trading; currency 11. Case Studies.
futures and options; foreign exchange risk exposures and their Part B Corporate Insolvency (30 Marks)
management; exchange rate forecasting; risk in foreign exchange 12. Revival, Rehabilitation and Restructuring of Sick Companies
business.
Sick companies and their revival with special reference to the law and
13. Recent Developments in Financial, Treasury and Forex procedure relating to sick companies.
Management
13. Securitisation and Debt Recovery
14. Practical Problems and Case Studies.
Securitisation Act :
PAPER 4 : CORPORATE RESTRUCTURING
Overview of the Securitisation and Reconstruction of Financial Assets
AND INSOLVENCY
and Enforcement of Security Interest Act, 2002; process; participants;
Level of knowledge : Expert knowledge. Special Purpose Vehicle (SPV), Asset Reconstruction Companies
Objectives : To provide an in-depth understanding of all aspects of (ARCs), Qualified Institutional Buyers (QIB).
law and practical issues relating to corporate restructuring and Debt Recovery Act :
insolvency.
Overview of the Recovery of Debts Due to Banks and Financial
Detailed contents : Institutions Act, 1993; Tribunal, Procedure; compromises and
Part A : Corporate Restructuring (70 Marks) arrangements with banks and creditors.
1. Introduction 14. Winding up
Meaning of corporate restructuring, need, scope and modes of Concept; modes of winding up; administrative machinery for winding up.
restructuring, historical background, global scenario, national scenario.
Winding up process and procedure; managing stakeholders and parties
2. Strategies in liquidation; conducting meetings of shareholders/creditors etc.;
Planning, formulation and execution of various corporate restructuring dealing with contracts; managing estate; outsourcing responsibilities
strategies - mergers, acquisitions, takeovers, disinvestments and to professionals/service providers such as valuers, security agencies,
strategic alliances, demergers and hiving off. etc; best practices in performing liquidation/administrator functions;
3. Mergers and Amalgamations accountability and liabilities; Role of liquidators and insolvency
Meaning and concept; legal, procedural, economic, accounting, taxation practitioners.
and financial aspects of mergers and amalgamations including stamp Consequences of winding up; winding up of unregistered companies;
duty and allied matters; interest of small investors; merger aspects dissolution.
under competition law; jurisdiction of courts; filing of various forms; 15. Cross Border Insolvency.
Amalgamation of banking companies and procedure related to
MODULE III
Government companies; Cross border mergers.
PAPER 5 : STRATEGIC MANAGEMENT, ALLIANCES
4. Takeovers
AND INTERNATIONAL TRADE
Meaning and concept; types of takeovers; legal aspects - SEBI takeover
Level of Knowledge : Working Knowledge.
regulations; procedural, economic, financial, accounting and taxation
aspects; stamp duty and allied matters; payment of consideration; bail Objectives : To develop the basic understanding of the students about
out takeovers and takeover of sick units; takeover defences; cross the concepts, techniques and processes relating to strategic
border takeovers. management, alliances as well as International Trade and treaties
5. Funding of Mergers and Takeovers including World Trade Organisation.
Financial alternatives; merits and demerits; funding through various Detailed contents :
types of financial instruments including equity and preference shares, Part A : Strategic Management (40 Marks)
options and securities with differential rights, swaps, stock options; 1. Nature and Scope of Strategic Management

Concept; role, functions and processes of strategic management in to tax laws with a view to integrating the relevance of these
globally, competitive and knowledge-based environment. laws with financial planning and management decisions.
2. Environmental Scanning and Internal Appraisal Analysis (iii) an overview of international taxation.
(a) Identification of external variables - economic, technological, Detailed contents :
legal, political, socio-cultural and, global; industry appraisal Part A : Direct Taxation - Law and Practice (30 marks)
analysis and forecasting; synthesis of external factors;
1. General Framework of Direct Taxation in India
(b) Internal scanning of the firm;
Different direct tax laws and their inter-relationship; importance of
(c) Tools and techniques of strategic management SWOT Income Tax Act and Annual Finance Act and related Constitutional
analysis, situational analysis; Gap analysis, impact analysis, provisions; harmonisation of tax regime.
value chain analysis; business process re-engineering.
2. Companies under Income-tax Laws
3. Planning and Formulation
Classification and tax incidence; corporation tax as per Article 366;
Formulation of Corporate vision, mission, goals and objectives; computation of taxable income and assessment of tax liability
developing strategic alternatives, evaluations of alternatives, selection considering special provisions relating to companies.
of best alternative; strategic planning vis--vis tactical planning;
3. Tax Planning
Strategic models for optimal decisionmaking.
Concept of tax planning; Tax planning with reference to setting up a
4. Implementation and Control
new business; locational aspects; nature of business; tax holiday, etc.
Strategy implementation; developing programs, budgets and
Tax planning with regard to specific management decisions such as
procedures; strategic control; managing strategic changes.
mergers and takeovers; location of undertaking; introduction of
5. Review voluntary retirement; tax planning with reference to financial
Performance Evaluation - criteria and challenges management decisions such as borrowing or investment decisions;
6. Risk Management reorganisation or restructuring of capital decisions.
Meaning, objectives and significance; types of risks; measuring the trade Tax planning with respect to corporate reorganization; tax planning
off between risk and return; control and management of business risks. with reference to employees remuneration.
7. Management Information Systems Tax planning vis--vis important provisions of wealth-tax including court
rulings and legislative amendments.
Concept, elements and structure; approaches of MIS development;
pre-requisites of an effective MIS, Enterprise Resource Planning (ERP). 4. Tax Management
8. Internal Control Systems Return and procedure for assessment; special procedure for
assessment of search cases, e-commerce transactions, liability in
Meaning, definition, objectives, classification, scope and limitation of
special cases; collection and recovery of tax; refunds, appeals and
internal control; steps and techniques of internal control systems.
revisions; penalties imposable, offences and prosecution.
Part B : Strategic Alliances (20 Marks)
Part B : Indirect Taxation Law And Practice (50 marks)
9. Nature and Scope
5. Introduction
Meaning, types and stages; integrating alliances into corporate strategy;
Special features of indirect tax leviesall pervasive nature, contribution
cross cultural alliances; implementation and management of strategic
to Government revenues; constitutional provisions authorizing the levy
alliances.
and collection of duties of central excise, customs, service tax, central
10. Foreign Collaborations and Joint Ventures sales tax and VAT.
Industrial Policy; Foreign Investment Policy; kinds and negotiation of 6. Central Excise Laws
collaboration and joint ventures, drafting of agreement, restrictive
Basis of chargeability of duties of central excise - goods, manufacture,
clauses; Indian joint ventures abroad Indian experiences.
classification and valuation of excisable goods, CENVAT; assessment
Part C : International Trade (40 marks) procedure, exemption, payment, recovery and refunds of duties.
11. International Trade and Treaties Clearance of excisable goods; Central Excise Bonds; maintenance of
Concept and Theories of International Trade, Institutionalisation of accounts and records and filing of returns.
international trade, establishment of World Trade Organisation; Duties payable by small scale units. set-off of duties concept, meaning
Economic Blocks and Trade Agreements such as ASEAN, EU, SAPTA, and scheme; Central Excise Concessions on exports; search, seizure
NAFTA etc.; Indias Free Trade, Economic Cooperation and Partnership and investigation; offences and penalty.
Agreements.
Adjudication, Appeal and Revision, including appearance before
12. Anti-dumping, Subsidies and Countervailing Duties CEGAT by Company Secretary as authorised representative;
WTO agreements on anti-dumping; safeguard measures; subsidies & settlement of cases.
countervailing duties; Regulatory Framework and procedure in India.
7. Customs Laws
13. Settlement of Disputes under WTO
Levy of and exemption from, customs duties specific issues and
Rules, regulations and procedures relating to settlement of disputes case studies; assessment and payment duties; recovery and refund of
under WTO. customs duties.
PAPER 6 : ADVANCED TAX LAWS AND PRACTICE Procedure for clearance of imported and exported goods; drawback of
Level of knowledge : Expert knowledge duties.
Objectives : Transportation and warehousing
To provide Confiscation of goods and conveyances and imposition of penalties;
(i) knowledge of framework of taxation system in India. search, seizure and arrest, offences and prosecution provisions.
(ii) knowledge of various concepts and their application relating Adjudication, Appeal and Revision; Settlement of Cases.

8. Promissory Estoppel in Fiscal Laws principles and applicability management; process of establishment of compliance management
with reference to indirect taxes. system; compliance in letter and spirit.
9. Tax Planning and Management - scope and management in 3. Secretarial Audit
customs, with specific reference to important issues in the respective Need, objectives and scope; process; periodicity and format for
areas. secretarial audit report; check-list under various corporate laws; share
Part C: International Taxation (20 marks) transfer audit; compliance certificate.
10. Basic Concepts of International Taxation 4. Search / Status Reports
Residency issues; source of income; tax havens; unilateral relief and Importance, scope; verification of documents relating to charges;
Double Tax Avoidance; transfer pricing; international merger and requirements of financial institutions and corporate lenders; preparation
acquisitions; impact of tax on GATT 94, WTO, anti dumping processing; of report.
the subpart F Regime : definition of CFC, Subpart F Income and 5. Securities Management and Compliances
Operating Rules.
Meaning, need and scope; mechanism for self-regulation; advantages
11. Advance Ruling and Tax Planning to company, regulator and investors.
Authority for advance rulings, its power and procedure; applicability of PAPER 8 : GOVERNANCE, BUSINESS ETHICS AND
advance ruling; application for advance ruling and procedure on receipt SUSTAINABILITY
of application.
Level of knowledge : Expert Knowledge
Tax planning and special provisions relating to certain incomes of non-
resident corporate assessee. Objective : To provide knowledge on global development and best
practices in the corporate world.
Double taxation avoidance agreements; general principles; provisions
and tax implications thereof. Detailed Contents :
12. Taxation of Inbound Transactions Part A: Corporate Governance (50 Marks)
Taxation of passive investments; capital gains & losses; income 1. Evolution, concept, principles and development.
taxation; property taxation; branch profit taxation. 2. Management structure for corporate governance; Board
13. Taxation of Outbound Transactions structure; building responsive boards - issue and challenges;
Foreign tax credit; foreign income exclusions; indirect foreign tax credit effectiveness of Board, board committees and their functioning in
(deemed paid system vs. current pooling system); Controlled Foreign particular audit committee, legal compliance committee and
Corporations; PFICs (Passive Foreign Investment Companies); cross Stakeholders relationship committee; appraisal of Board performance,
border merger, acquisitions and transfers. transparency and disclosure; internal control system and risk
management.
MODULE IV
3. An analysis of legislative framework of corporate governance
PAPER 7 : DUE DILIGENCE AND CORPORATE COMPLIANCE
in various countries such as UK, USA, India. .
MANAGEMENT
4. Corporate communication; art and craft of investors relations;
Level of knowledge : Expert knowledge.
shareholders activism, investor protection and changing role of
Objective : Institutional Investors.
(i) To provide thorough understanding and appreciation of 5. Corporate Social Responsibility and good corporate citizenship.
composite legal due diligence in regard to certain corporate
6. Various corporate governance forums - Common Wealth
activities.
Association for Corporate Governance (CACG), Organization for
(ii) To provide expert knowledge about the Corporate Compliance Economic Cooperation Development (OECD), International Corporate
Management Governance Network (ICGN), National Foundation for Corporate
Detailed contents : Governance (NFCG), etc.
1. Due Diligence Part B : Business Ethics (30 Marks)
Nature, objectives, significance and scope of due diligence; steps in 7. Genesis, significance and scope; organization perspectives.
the process of due diligence. 8. Ethical principles in business codes and innovations.
Areas of Due Diligence 9. Concept of the stakeholders organization.
Initial Public Offer (IPO), Follow-on Public Offer (FPO), Rights 10. Activity analysis, business dilemma versus decision, characteristics
issue, Employees Stock Option Plans (ESOPs), Preferential of ethical dilemmas; the dilemma resolution process; business ethics
Allotment as a strategic management tool; stakeholders protection.
Issue of debt (both long term & short term) such as 11. Challenges of business ethics and corporate leadership.
debentures, bonds, warrants etc.
Part C: Corporate Sustainability (20 Marks)
Takeovers and acquisitions
12. Genesis, meaning, nature, objectives, significance and scope
Setting up of business units in India and abroad of corporate sustainability.
Setting up joint ventures 13. Sustainability reporting - frameworks and guidance; trends and
Compliance of Listing Agreement drivers; business benefits of corporate sustainability reporting;
Internal Audit of Depository Participants leadership programmes and stakeholder engagement; corporate
Issue of Global Depository Receipts sustainability management systems.
Issue of Indian Depository Receipts 14. Legal framework; conventions and treaties on environmental, health
and safety and social security issues.
Legal Due Diligence
15. Principle of Absolute Liability - Case studies.
2. Compliance Management
16. Contemporary developments.
Concept and significance; systems approach to compliance

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

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

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
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

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Volume No.

l From the President 03

Student Company Secretary 1 November 2007

With best wishes,

New Delhi (PREETI MALHOTRA)

ICSI INTRODUCES 24 5 7 STUDY THROUGH E-LEARNING

Student Company Secretary 4 November 2007

Student Company Secretary 5 November 2007

Student Company Secretary 6 November 2007

Student Company Secretary 7 November 2007

Student Company Secretary 8 November 2007

Student Company Secretary 9 November 2007

Student Company Secretary 10 November 2007

Student Company Secretary 11 November 2007

Student Company Secretary 12 November 2007

Student Company Secretary 13 November 2007

Student Company Secretary 14 November 2007

Student Company Secretary 15 November 2007

COMPANY SECRETARIES EXAMINATION - 15. DEHRADUN GOVERNMENT GIRLS INTER

Student Company Secretary 19 November 2007

Student Company Secretary 20 November 2007

Student Company Secretary 21 November 2007

Student Company Secretary 22 November 2007

Student Company Secretary 23 November 2007

Student Company Secretary 25 November 2007

Student Company Secretary 26 November 2007

Student Company Secretary 27 November 2007

Student Company Secretary 28 November 2007

Student Company Secretary 33 November 2007

Student Company Secretary 34 November 2007

Student Company Secretary 35 November 2007

Student Company Secretary 36 November 2007

Student Company Secretary 37 November 2007

Student Company Secretary 38 November 2007

Student Company Secretary 39 November 2007

Student Company Secretary 40 November 2007

Student Company Secretary 41 November 2007

Student Company Secretary 42 November 2007

Student Company Secretary 43 November 2007

Student Company Secretary 44 November 2007

Student Company Secretary 45 November 2007

Organised by Duration of the Venue of Programme Contact Address

SCHEDULE OF ACADEMIC DEVELOPMENT PROGRAMME (ADP)

Organised by Duration of the Venue of the Programme Contact Address

Student Company Secretary 46 November 2007

Shri Sohan Lal, Joint Director (Student Services)

15 Months with NIL 52 52 NIL 40 125 150 15

3 Months in 7 130 137 NIL

Student Company Secretary 47 November 2007

Joint Director (Student Services)

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

1. Registration Status/ Issue of Study

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

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

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

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

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

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

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