Jan feb2012
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- The document provides information about student services and fees for various ICSI programs including the Foundation Programme, Executive Programme, and Professional Programme. Fees are listed for registration, tuition, examinations, exemptions, extensions, duplicate documents, and verification of marks. - The President's message welcomes students and encourages the development of integrity, learning, and communication skills to succeed in a dynamic environment. Upcoming national competitions are announced to help students improve skills. Students are advised to take advantage of opportunities and maintain a positive attitude. - Updates include the implementation of the new Foundation Programme syllabus and an exposure draft of proposed syllabi for the Executive and Professional Programmes. Students are encouraged to provide feedback to help develop contemporary
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Academic Guidance
Student Company Secretary January - February 2012
Economic and Labour Laws
Foreign Contribution (Regulation) Act, 2010- An Overview1
Introduction
The Foreign Contribution (Regulation) Act, 1976 was enacted
to regulate the acceptance and utilization of foreign contribution or
hospitality with a view to ensuring that the Parliamentary institutions,
political associations, academic and other voluntary organizations
as well as individuals working in important areas of national life may
function in a manner consistent with the values of sovereign democratic
republic. The Act was amended in 1984 to extend it provisions to cover
second and subsequent recipients of foreign contribution and to the
members of higher judiciary, besides introducing the system of grant
of registration to the association receiving foreign contribution.
Significant development have taken place since 1984 such
as change in internal security scenario, an increased influence
of voluntary organizations, spread of use of communication and
information technology, quantum jump in the amount of foreign
contribution being received, and large scale growth in the number of
registered organizations. This has necessitated large scale changes
in the Act of 1976 and therefore, it was thought appropriate to replace
the FCRA, 1976 by a new legislation to regulate the acceptance,
utilization and accounting of foreign contribution and acceptance of
foreign hospitality by a person or association.
The Foreign Contribution (Regulation) Act, 2010 has come into
effect from May 1, 2011. The Ministry of Home Affairs has issued the
necessary Gazette Notification vide S.O. 999 (E) dated the 29th April,
2011 in this regard. The Ministry of Home Affairs has also issued a
Gazette Notification vide G.S.R. 349 (E) dated the 29th April, 2011
notifying the Foreign Contribution (Regulation) Rules, 2011 made
under section 48 of FCRA, 2010. The FCR Rules, 2011 have come
into force simultaneously with FCRA, 2010.
The object of the Act is to regulate the acceptance and
utilisation of foreign contribution or foreign hospitality by
certain individuals or associations or companies and to prohibit
acceptance and utilisation of foreign contribution or foreign
hospitality for any activities detrimental to the national interest
and for matters connected therewith or incidental thereto.
Definitions of “Foreign contribution”, “foreign hospitality” and
“Foreign source”
“Foreign contribution” means the donation, delivery or transfer
made by any foreign source,—
(i) of any article, not being an article given to a person as a gift
for his personal use, if the market value, in India, of such article, on
the date of such gift, is not more than such sum as may be specified
from time to time, by the Central Government by the rules made by
it in this behalf;
(ii) of any currency, whether Indian or foreign;
(iii) of any security as defined in clause (h) of section 2 of the
Securities Contracts (Regulation) Act, 1956 and includes any foreign
security as defined in clause (o) of section 2 of` the Foreign Exchange
Management Act, 1999.
Explanation 1.— A donation, delivery or transfer of any article,
currency or foreign security referred to in this clause by any person
who has received it from any foreign source, either directly or through
one or more persons, shall also be deemed to be foreign contribution
within the meaning of this clause.
Explanation 2.— The interest accrued on the foreign contribution
deposited in any bank referred to in sub-section (1) of section 17 or
any other income derived from the foreign contribution or interest
thereon shall also be deemed to be foreign contribution within the
meaning of this clause.
Explanation 3.— Any amount received, by any person from any
foreign source in India, by way of fee ( including fees charged by an
educational institution in India from foreign student) or towards cost
in lieu of goods or services rendered by such person in the ordinary
course of his business, trade or commerce whether within India or
outside India or any contribution received from an agent of a foreign
source towards such fee or cost shall be excluded from the definition of
foreign contribution within the meaning of this clause[Section 2 (1) (h)]
“foreign hospitality” means any offer, not being a purely casual
one, made in cash or kind by a foreign source for providing a person
with the costs of travel to any foreign country or territory or with free
boarding, lodging, transport or medical treatment [Section 2 (1) (i)]
“Foreign source” includes, —
(i) the Government of any foreign country or territory and any
agency of such Government;
(ii) any international agency, not being the United Nations or any of
its specialised agencies, the World Bank, International Monetary Fund
or such other agency as the Central Government may, by notification,
specify in this behalf;
(iii) a foreign company;
(iv) a corporation, not being a foreign company, incorporated in a
foreign country or territory;
(v) a multi-national corporation referred to in sub-clause (iv) of
clause (g);
(vi) a company within the meaning of the Companies Act, 1956
(1 of 1956), and more than one-half of the nominal value of its share
capital is held, either singly or in the aggregate, by one or more of the
following, namely:—
the Government of a foreign country or territory;
the citizens of a foreign country or territory;
(C) corporations incorporated in a foreign country or territory;
(D) trusts, societies or other associations of individuals (whether
incorporated or not), formed or registered in a foreign country or
territory;
(E) foreign company;
(vii) a trade union in any foreign country or territory, whether or not
registered in such foreign country or territory;
(viii) a foreign trust or a foreign foundation, by whatever name
called, or such trust or foundation mainly financed by a foreign country
or territory;
(ix) a society, club or other association of individuals formed or
registered outside India;
(x) a citizen of a foreign country[ Section 2 (1) (j)]
Prohibition to accept foreign contribution
Section 3(1) of theAct, imposes restriction on acceptance of foreign
contribution by candidate for election; correspondent, columnist,
cartoonist, editor, owner, printer or publisher of a registered newspaper;
Judge, Government servant or employee of any corporation or any
other body controlled or owned by the Government; member of any
Legislature; political party or office-bearer thereof; organisation of
a political nature as may be specified by the Central Government;
association or company engaged in the production or broadcast
of audio news or audio visual news or current affairs programmes
through any electronic mode, or any other electronic form as defined in
clause (r) of sub-section (1) of section 2 of the Information Technology
ct, 2000 or any other mode of mass communication; correspondent or
columnist, cartoonist, editor, owner of the association or company.
A “corporation” for the above purpose means a corporation owned
or controlled by the Government and includes a Government company
as defined in section 617 of the Companies Act, 1956.
Sub-section (2)(a) of Section 3 provides that no person, resident
in India, and no citizen of India resident outside India, shall accept
any foreign contribution, or acquire or agree to acquire any currency
from a foreign source, on behalf of any political party, or any person,
prohibited from accepting any foreign contribution.
Executive Programme
1. Prepared by Chittaranjan Pal, Assistant Education Officer, under the guidance
of Dr. S.K. Dixit, Director(Academics), The ICSI.](https://image.slidesharecdn.com/jan-feb2012-130721225209-phpapp01/85/Jan-feb2012-10-320.jpg)
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Academic Guidance
Student Company Secretary January - February 2012
Securities Laws and Compliances
Exchange Traded Interest Rate Futures3
Interest Rate Futures means a standardized interest rate derivative
contract traded on a recognized stock exchange to buy or sell a
notional security or any other interest bearing instrument or an index
of such instruments or interest rates at a specified future date, at a
price determined at the time of the contract.
India has an active government securities (G-secs) market where
primary issuance is at market-determined rates. In order to help
investors guard against interest rate fluctuations, Securities and
Exchange Board of India (SEBI) introduced two-year and five-year
exchange-traded IRFs (Interest Rate Futures) in government bonds.
Now this has been decided to permit the introduction of cash settled
futures on 2-year and 5-year notional coupon bearing Government of
India security on currency derivatives segment of stock exchanges.
Earlier, the IRF, traded on currency derivative segment of stock
exchanges, was allowed in 91-day treasury bills and 10-year
government securities.
Investors purchase or sell IRFs to hedge risks arising from
fluctuation in interest rates, which depend on various factors including
RBI policy, demand for liquidity and flow of overseas funds. As per the
guidelines, the minimum lot size for such instruments should be Rs 2
lakh. Residents and foreign institutional investors (FIIs) can trade in
these instruments.
In case of FIIs, the total gross long (bought) position in cash
and IRF markets taken together should not exceed their individual
permissible limit for investment in G-secs.
Amended directions of Reserve Bank of India on Interest Rate
Futures
The Reserve Bank of India vide its notification no. IDMD. PCD/
ED(RG)-2011 dated December 30, 2011 has amended the directions
on Interest Rate Futures (IRFs) on Government Securities permitting
2-year and 5-year IRFs. According to the directions, the 2-year and
5-year IRF contracts would be on 2-year and 5-yr notional coupon
bearing Government of India security, respectively. These would be
cash-settled at expiry by the stock exchanges offering the contracts.
The final settlement price of the 2-year and 5-year IRF contracts
would be based on the yields of the basket of securities (as specified
by respective stock exchanges) and disseminated by Fixed Income
Money Market and Derivatives Association of India (FIMMDA) for the
limited purpose of settlement of IRF contracts, as per the guidelines
issued by the Reserve Bank from time to time
Permitted instruments
i) Interest Rate Futures are permitted on 91-Day Treasury Bills,
2-year, 5-year and 10-year notional coupon bearing Government
of India security or any other product, as may be approved by the
Reserve Bank from time to time.
ii) Persons resident in India may purchase or sell Interest Rate
Futures referred to in sub-paragraph (i) to hedge an exposure
to interest rate risk or otherwise. Foreign Institutional Investors,
registered with Securities and Exchange Board of India, may
purchase or sell Interest Rate Futures referred to in sub-
paragraph (i) subject to the condition that the total gross long
(bought) position in cash and Interest Rate Futures markets
taken together does not exceed their individual permissible limit
for investment in government securities and the total gross short
(sold) position, for the purpose of hedging only, does not exceed
their long position in the government securities and in Interest
Rate Futures at any point in time.
iii) Notwithstanding anything contained in sub-paragraph (i), no
scheduled bank or such other agency falling under the regulatory
purview of the Reserve Bank under the Reserve Bank of India
Act, 1934, the Banking Regulation Act, 1949 or any other Act or
instrument having the force of law shall participate in the Interest
Rate Futures market without the permission from the respective
regulatory Department of the Reserve Bank.
iv) Agencies falling under the regulatory purview of any other
regulator established by law shall not participate in Interest Rate
Futures market except with the permission of their respective
regulators and participation of such agencies as members or
clients shall be in accordance with the guidelines issued by the
regulator concerned.
Features of Interest Rate Futures
1. The 10-year Interest Rate Futures contract shall have the
following features:
a. The contract shall be on 10-year notional coupon bearing
Government of India security.
b. The notional coupon shall be 7% per annum with semi-
annual compounding.
c. The contract shall be settled by physical delivery of
deliverable grade securities using the electronic book
entry system of the existing Depositories, namely, National
Securities Depositories Ltd. and Central Depository
Services (India) Ltd. and Public Debt Office of the Reserve
Bank.
d. Deliverable grade securities’ shall comprise GoI securities
maturing at least 7.5 years but not more than 15 years from
the first day of the delivery month with a minimum total
outstanding stock of `10,000 crore. {Exchanges may fix their
own basket of securities for delivery from the deliverable
grade securities in accordance with guidelines issued by
the Securities Exchange Board of India from time to time}
2. {The 91-Day T-Bill Futures shall have the following features:
a. The contract shall be on 91-Day Treasury Bills issued by
the Government of India.
b. The contract shall be cash settled in Indian Rupees.
c. The final settlement price of the contract shall be based
on the weighted average price/yield obtained in the weekly
auction of the 91-Day Treasury Bills on the date of expiry of
the contract}
3. {The 2-year and 5-year Interest Rate Futures contract shall have
the following features:
a. The 2-year and 5-year Interest Rate Futures contracts shall
be on 2-year and 5-yr notional coupon bearing Government
of India security respectively.
b. The notional coupon for the 2-year bond shall be 7% per
annum and that of the 5-year bond shall be 7% with semi-
annual compounding.
c. The contracts shall be cash-settled by the stock exchanges
offering the contracts.
d. The final settlement price of the 2-year and 5-year Interest
Rate Futures contracts shall be based on the yields on
basket of securities for each Interest Rate Futures contract
specified by the respective stock exchange in accordance
with guidelines issued by the Securities Exchange Board of
India from time to time.
e. The yields of the Government of India securities [indicated
at para 4.3 (d) above] shall be polled and the same shall be
as per the guidelines issued by the Reserve Bank of India
from time to time}.
Membership
Interest Rate Futures contracts on instruments referred to in
sub-paragraph (i) of paragraph 3 shall be traded on the Currency
Derivative Segment of a recognized Stock Exchange. The members
registered with Securities and Exchange Board of India for trading in
Currency /Equity Derivative Segment shall also be eligible to trade in
Interest Rate Futures referred to in sub-paragraph (i) of paragraph 3.
3. Prepared by Mahesh Kumar Airan, Assistant Education Officer, under the
guidance of Sonia Baijal, Deputy Director, The ICSI.](https://image.slidesharecdn.com/jan-feb2012-130721225209-phpapp01/85/Jan-feb2012-15-320.jpg)
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Legal World
Student Company Secretary January - February 2012
LEGAL WORLD
CORPORATE LAWS
LW(S)1.02.2012
RAHEJAUNIVERSAL LIMITED v. NRC LIMITED ORS [SC]
Civil Appeal No. 1920 of 2012 (Arising out of SLP (C) No.26149
of 2011) with Civil Appeal No. 1921 of 2012 [Arising out of SLP (C)
Nos. 5360 / 2012 (CC 15948/2011)], Civil Appeal No. 1922 of 2012
(Arising out of SLP (C) No.26624 of 2011), Civil Appeal No. 1923
of 2012 (Arising out of SLP (C) No.26964 of 2011)
S.H. Kapadia CJI, K.S. Radhakrishnan Swatanter Kumar,
JJ.[Decided on 07/02/2012]
Section 22 of the Sick Industrial Companies (Special
Provisions) Act, 1985 read with section 53A of the Transfer of
Property Act, 1882 - Agreement to sell land by a sick company
- Possession of land given to the purchaser - BIFR restricts the
sale - Whether correct - Held, Yes.
Brief facts:An interesting question of law as to the ambit and scope
of Section 22 of the Sick Industrial Companies (Special Provisions)
Act, 1985 (for short, the ''Act of 1985'') and its overriding application
over the provisions of Transfer of Property Act, 1882 (for short, the
''Act of 1882''), with particular reference to Section 53A and Section 54
of the latter Act, arises for consideration in the present case.
In order to bring in additional funds required for financial
restructuring,Respondent company NRC Limited intensified its efforts
to dispose of the surplus land and entered into a MOU with the
appellant company for the sale of about 344 acres of land for a total
consideration of Rs.166.40 crore.There is some dispute between the
parties with regard to the manner and time in which these payments
were or were not made. In 2008 the Respondent registered with the
BIFR as sick company. Meanwhile, the Appellant refused to release
the third instalment and resultantly, even the dues of 577 employees,
who had taken the benefit of the early retirement scheme, could not
be cleared. The BIFR, vide its order dated 16th July, 2009, fixed the
cut - off date as 30th July, 2007. It directed that the sale of assets,
including investments, will require prior approval of the BIFR.
The BIFR treated the land as an investment and has put certain
restrictions thereupon, including that of sale of assets, which required
the prior approval of BIFR as the Respondent-Company was under
the purview of the Act of 1985. With reference to the land, it was
directed that Capacity Valuation Report should be placed on record to
show how the sale consideration of Rs.166.40 crore was arrived at.
Aggrieved from this order, both theAppellant as well as the Respondent
preferred an appeal before the AAIFR, which made major variations in
the order of the BIFR. The correctness and legality of this order of the
AAIFR was questioned by the Appellant, Respondent and the NRC
Mazdoor Sangh before the High Court. The High Court quashed the
order of the AAIFR and confirmed the order passed by the BIFR. The
appellant appealed to the Supreme Court.
Decision: Appeal dismissed.
Reason: Referring to the facts of the present case, the land was
one of the major assets of the Respondent Company and in the event
the said asset was kept outside the scope of the scheme or its sale
was permitted by the BIFR, probably the company could never be
revived and any effort in that direction de hors such asset of the
company would be in futility.
Besides, the fact that the statutory protection contained in Section
22(3) was available to the company, it could be stated with more
emphasis that the BIFR could even adopt and permit the transaction
with such adoption as it may have deemed appropriate. The imperative
nature of the functions of the BIFR under the provisions of the Act of
1985 and the overriding effect of its provisions fully support such a
view.
The unambiguous principle of law that emerges is that the
provisions of the Act of 1985 shall normally override the other
laws except the laws which have been specifically excluded by the
Legislature under Section 32 of the Act of 1985. The Act of 1985 has
been held to be a special statute vis - a - vis the other laws, most
of which have been indicated above. In the present case, we are
concerned with the provisions of the Act of 1882. It is the case of the
respondent - company before us that they have got an interest in the
immovable property by virtue of the Memorandum of Understanding,
Agreements dated 1st March, 2007 and 17th August, 2010 and by
part performance, as they had been given possession of the land in
question. It was contended that as their interests were duly protected
under the provisions of the Act of 1882, the BIFR/AAIFR, in exercise
of its powers under Sections 22(1), 22(3) and 22A of the Act of 1985,
cannot place any restriction upon their title or interest in the immovable
property. In other words, the contention is that vis - a - vis the Act of
1985, the provisions of the Act of 1882 shall prevail.
TheAct of 1882 is a general law and controls and operates in a very
wide field. It was anAct enacted for and related to transfer of immovable
property in India and to decide the disputes as well as to resolve the
confusion and conflict, which was in existence, as the courts were
forced to decide the disputes according to their own notions of justice
and fair play. The Act of 1882 does not have application to a particular
situation or class of persons. On the contrary, the Act of 1985 is a
special legislation providing for imperative functioning of specialized
bodies like the BIFR and AAIFR and is intended to apply to a very
specific situation, i.e., where a company is a sick industrial company.
It has no application even to other different kinds of companies within
the purview of the Companies Act, except sick industrial companies.
The Legislature has undoubtedly given an overriding effect to the
provisions of the Act of 1985 and even restricted the jurisdiction of
the civil courts, as is demonstrated from the language of Sections 26
and 32 of the Act of 1985. Thus, we have no hesitation in holding that
the provisions of the Act of 1985 shall prevail over the provisions of
the Act of 1882.
The contention raised before us is that in view of the provisions
of Sections 53A and 54 of the Act of 1882, the title in the property in
question is vested in the Respondent - Company and they are entitled
to transfer the property, free from any restrictions or limitations. As
such, the order of the High Court is liable to be set aside and that of
the AAIFR be restored. In view of our afore - stated discussion and
the reasons to follow, we are unable to accept this contention entirely
or even in part for that matter.
The principle of law that emerges, which consistently has judicial
benediction, is that a scheme for rehabilitation or restructuring of a
sick industrial company undertaken by a specialized body like the
BIFR/AAIFR should, as far as legally permissible, remain obstruction
free and the events should take place as pre - ordained, during
consideration and successful implementation of the formulated
scheme. Wide jurisdiction is vested in BIFR/AAIFR to issue directives,
declarations and prohibitory orders within the rationalized scope and
limitations prescribed under Section 22(1), 22(3) and 22A of the Act
of 1985.
For the reasons afore - recorded, the present appeals are
dismissed. The order of the BIFR dated 16th July, 2009 which
has merged into the order of the High Court dated 29th July, 2011
is maintained while that of the AAIFR dated 28th May, 2010 is set
aside. The parties are directed to appear before the BIFR which shall
proceed with the matter in accordance with law. However, we express
a poised hope that the BIFR would deal with and dispose of the matter
expeditiously.
GENERAL LAWS
LW(S) 2.02.2012
JIK INDUSTRIES LIMITED ORS v. AMARLAL V. JUMANI
ANR [SC]
SLP (Crl.) No.6643 - 6651 of 2010 related batch of appeals
Asok Kumar Ganguly Jagdish Singh Khehar, JJ. [Decided
on 01/02/2012]](https://image.slidesharecdn.com/jan-feb2012-130721225209-phpapp01/85/Jan-feb2012-17-320.jpg)
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Legal World
Student Company Secretary January - February 2012
Section 147 of the Negotiable Instruments Act, 1881 read
with Section 391 of the Companies Act, 1956 - Compromise with
creditors - Scheme sanctioned by the court - Whether results in
automatic compounding of the offence of cheque dishonour -
Held, No.
Brief facts: This group of appeals were heard together as they
involve common questions of law. There are some factual differences
but the main argument by the appellant(s) in this matter was advanced
on behalf of the Sharp Industries Limited in SLP (Crl.) No.6643 - 6651
of 2010 and the facts are taken mostly from the said case.
The material facts of the case are that the appellant company
came out with a scheme by which it was agreed that the appellant
company should be revived and thereafter payments will be made to
the creditors. Pursuant to such scheme the appellant company filed
a petition under Section 391 of the Companies Act to the High Court.
The whole scheme was placed before the High Court and according
to the appellant(s), first order of the scheme came to be passed by
the Hon'ble High Court by its order dated 5th May, 2005 in Company
Petition No.92 of 2005. At the time the said company petition was
pending, a meeting was convened by the appellant company on
1.6.05 and the same was attended by several creditors including
representative of the first respondents and they opposed the scheme.
Despite the said opposition, the appellant(s) succeeded in getting the
scheme approved by statutory majority as required under the law.
Thereafter, on 17.11.2005 another company petition with a fresh
scheme (Company petition No. 460 of 2005) was filed. After the said
company petition was filed all proceedings which were initiated by
different companies against the appellant(s) came to be stayed by the
High Court. In view of the aforesaid scheme the appellant company
filed application for compounding under Section 147 of the N.I. Act
read with Section 320 of the Criminal Procedure Code (hereinafter,
''the Code'') and Section 391 of the Companies Act. However, the
respondents opposed the said prayer of the petitioner and by an
order dated 19th January, 2007, the learned Chief Judicial Magistrate,
Ahmednagar rejected the application filed by the appellant for
termination of the proceedings inter alia on the ground that the learned
Magistrate has no power to quash or terminate the proceedings.
Being aggrieved by the said order of the Magistrate, the appellants
filed writ petitions before the High court, which was dismissed. By
way of a detailed judgment, the High Court after dismissing the
writ petitions held that sanction of a scheme under Section 391 of
the Companies Act, 1956 (hereinafter ''Companies Act'') does not
amount to compounding of an offence under Section 138 read with
Section 141 of the N.I. Act. The High Court also held that sanction
of a scheme under Section 391 of the Companies Act will not have
the effect of termination or dismissal of complaint proceedings under
N.I. Act. However, the learned Judge made it clear that the judgment
of the High Court will not prevent the petitioners from filing separate
application invoking the provisions of Section 482 Criminal Procedure
Code, if they are so advised. Appellants approached the Supreme
Court.
Decision: Appeal dismissed.
Reason: Considering the submissions of the rival parties, this
Court finds that the effect of approval of a scheme of compromise
and arrangement under Section 391 of the Companies Act is that
it binds the dissenting minority, the company as also the liquidator
if the company is under winding up. Even if the aforesaid position
is accepted the same does not have much effect on any criminal
proceedings initiated by the respondent creditors for non - payment of
debts of the company arising out of dishonour of cheques. Factually
the allegation of the respondent is that even payment under the
scheme has not been made. However, without going into those factual
controversies, the legal position is that a scheme under Section 391 of
the Companies Act does not have the effect of creating new debt. The
scheme simply makes the original debt payable in a manner and to the
extent provided for in the scheme. In the instant appeal in most of the
cases the offence under the N.I. Act has been committed prior to the
scheme. Therefore, the offence which has already been committed
prior to the scheme does not get automatically compounded only as
a result of the said scheme. Therefore, even by relying on the ratio
of the aforesaid judgment, this Court cannot accept the appellant's
contention that the scheme under Section 391 of the Companies Act
will have the effect of automatically compounding the offence under
the N.I. Act.
Therefore, the main argument that once a scheme under Section
391 of the Companies Act is sanctioned by the Court the same
operates as compounding of offence under Section 138 read with
Section 147 of the N.I. Act cannot be accepted. Rather the principle
which has been reiterated by this Court repeatedly in the aforesaid
judgments is that a scheme under Section 391 of the Companies Act
cannot be contrary to any law. From this consistent view of this Court
it clearly follows that a scheme under Section 391 of the Companies
Act cannot have the effect of overriding the requirement of any law.
The compounding of an offence is always controlled by statutory
provision. There are various features in the compounding of an offence
and those features must be satisfied before it can be claimed by the
offender that the offence has been compounded. Thus, compounding
of an offence cannot be achieved indirectly by the sanctioning of a
scheme by the Company Court.
In our country also when the Criminal Procedure Code, 1861 was
enacted it was silent about the compounding of offence. Subsequently,
when the next Code of 1872 was introduced it mentioned about
compounding in Section 188 by providing the mode of compounding.
However, it did not contain any provision declaring what offences were
compoundable. The decision as to what offences were compoundable
was governed by reference to the exception to Section 214 of the
Indian Penal Code. The subsequent Code of 1898 provided Section
345 indicating the offences which were compoundable but the said
Section was only made applicable to compounding of offences
defined and permissible under Indian Penal code. The present Code,
which repealed the 1898 Code, contains Section 320 containing
comprehensive provisions for compounding. A perusal of Section 320
makes it clear that the provisions contained in Section 320 and the
various sub - sections is a Code by itself relating to compounding of
offence. It provides for the various parameters and procedures and
guidelines in the matter of compounding. If this Court upholds the
contention of the appellant that as a result of incorporation of Section
147 in the N.I. Act, the entire gamut of procedure of Section 320 of the
Code are made inapplicable to compounding of an offence under the
N.I. Act, in that case the compounding of offence under N.I. Act will
be left totally unguided or uncontrolled. Such an interpretation apart
from being an absurd or unreasonable one will also be contrary to
the provisions of Section 4(2) of the Code, which has been discussed
above. There is no other statutory procedure for compounding of
offence under N.I. Act. Therefore, Section 147 of the N.I. Act must
be reasonably construed to mean that as a result of the said Section
the offences under N.I. Act are made compoundable, but the main
principle of such compounding, namely, the consent of the person
aggrieved or the person injured or the complainant cannot be wished
away nor can the same be substituted by virtue of Section 147 of N.I.
Act.
For the reasons aforesaid, this Court is unable to accept the
contentions that as a result of sanction of a scheme under Section
391 of the Companies Act there is an automatic compounding of
offences under Section 138 of the N.I. Act even without the consent
of the complainant.
LW(S) 3.02.2012
NTPC LIMITED v. ANSALDO CALDAIE BOILERS INDIA P. LTD.
ANR [SC]
Appeal No.2134 Of 2012 (Arising out of SLP(C) No.7807 of 2011)
Altamas Kabir J. Chelameswar, JJ. [Decided on
16/02/2012]
Interpretation of contracts - International competitive biddings
- Installation steam generator - Bid conditions - Rejection of bid
- Bidder JV Company is not the manufacturer of evaporator - Bid
rejected - Whether correct - Held,Yes.
Brieffacts:Followinginternationalcompetitivebiddingprocedures,
the Appellant had invited bids for the supply and installation of Steam](https://image.slidesharecdn.com/jan-feb2012-130721225209-phpapp01/85/Jan-feb2012-18-320.jpg)
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Student Services
Student Company Secretary January - February 2012
APPLICATION FORM FOR SUPPLY OF
CERTIFIED COPY(IES) OF ANSWER BOOKS
(Before filling-up this form, please go through the Guidelines, Rules and
Procedures)
The Joint Director (Exams.)
The Institute of Company Secretaries of India
C – 37, Sector 62
Institutional Area
NOIDA – 201 309.
Dear Sir,
I, the undersigned, request you to supply me the certified
copy(ies) of my answer books as per details given below :
1. Name of Student
2. Student Regn.
No.
3. Complete
Correspondence
Address
PIN
CODE:
4. E-mail id
5. Details about
appearance in
the subjects of
examination for
which copy(ies)
of answer books
is/are requested
Stage
Session
of Exam.
Roll
No.
Name
of the
Subject(s)
Marks
Obtained
6. Details of
fee remitted
[(Application
Fee @ `100/-
per subject(s) /
answer book(s)]
Demand
Draft
No.
Date
Name of
the Issuing
Bank
Amount
(`)
I have read the guidelines, rules and procedures and the same
are acceptable to me.
I hereby undertake that I am a bonafide student of the
Institute and the copy(ies) of answer book(s) applied for belong
to me. For this purpose, I am enclosing self-attested photocopy
of my Admit Card (Roll No.)/Student Identity Card issued to me
by the Institute. In case, any particular or statement is found to
be false, the Institute may take appropriate action against me, as
deemed fit.
Yours faithfully,
_____________
(Signature)
Place: _________
Name: _________________
Date: __________
RECORD RETENTION SCHEDULE FOR THE
DIRECTORATE OF EXAMINATION ICSI
Sl
No.
Description of Record Main Head/
Sub-Head
Record Retention Period
1. Answer Books of Company
Secretaries Examinations on which
applications for verification of marks
under Reg.46(2) of the Company
Secretaries Regulations, 1982, have
not been received by the Institute
within one month of the declaration
of results of respective examination.
Upto 45 days of declaration
of results of each examination
concerned.
2. Answer Books of examinations
verified on candidates’ requests
under the Regulation 46(2) of the
CSR, 1982.
Upto 3 months from the date
of declaration of the result of
verification of marks to the
candidates concerned.
3. Answer books of examinees on
which some action/dispute is
pending or such answer books which
are required for any enquiry by any
authority or court
Upto 3 months from the date of
completion of the action or enquiry
or dispute, as the case may be.
4. Examination Sessionwise Results
Registers
To be maintained in bound
Registers in physical form for 5
years; and in digitized form for 20
years from the date of declaration
of results.
5. Statements of Payments made to
Moderators, Paper Setter-cum-
Examiners, Additional Examiners,
Translators, etc. approved by the
competent authority.
8 Financial Years.
6 Attendance Sheets of candidates
registered for/appeared in the
examinations
1 Year or 2 Examination Sessions.
7. Subjectwise individual Examiners
Marks-Sheets
1 Year or 2 Examination Sessions.
8. Examination sessionwise address
list of Moderators, Paper Setters,
Additional Examiners, Hindi
Translators, etc.
1 Year or 2 Examination Sessions.
9. Correspondence with Moderators,
Paper Setter-cum-Examiners,
Additional Examiners, Hindi
Translators, etc.
1 year.](https://image.slidesharecdn.com/jan-feb2012-130721225209-phpapp01/85/Jan-feb2012-25-320.jpg)
![29
Student Services
Student Company Secretary January - February 2012
LIST OF INSTITUTES EMPANELLED IN IMPARTING THE
ORAL COACHING FACILITIES TO THE CS STUDENTS
UNDER PUBLIC/PRIVATE PARTNERSHIP SCHEME
S.No.
Name Address of Empanelled
Institutions.
Validity for CS Session of Exams
EASTERN INDIA REGIONAL COUNCIL
1.
M/s Happy Coaching Institute
Fatak, P.O. Budharaja
Sambalpur-768 004
Orissa
Tel: 06630533146/08984494844
cmatpsingh@gmail.com
December 2011 June 2012
2
The Director
M/s Institute for Inspiration Self
Development
1-B/200/1, Sector-III
Salt Lake City
Kolkata-700 106
Tel : 033-23352378 / 23352861
033 23352379(F)
info@iisdedu.in
iisdedu@rediffmail.com
June 2012 and December 2012
3.
Saptarshi College,
Back side of Sai Complex, Gandhi Nagar,
Ist Lane-Extn.
Berhampur, Ganjam ( Odisha )
M: 9238732929, 9238668062
09438406150, 09238668062
Saptarshi.college@yahoo.in
June 2012 December 2012
4.
WISDOM Institute of Professional
Learning
3/100C, C R Colony, On Raja S C Mallick
Road, Kollkata-32
M: 09836077024, 8013346863
Mywisdom.institute@gmail.com
December 2011 June 2012
5
Topper’s Point
AM-111, Ist Floor
Basanti Nagar
Rourkela – 12 ( Orissa )
Tel: 09861107344, 09338707483
topperpankajgarg@gmail.com
June 2012 and December 2012
NORTHERN INDIA REGIONAL COUNCIL
1.
M/S G.G.D.S.D. COLLEGE
Rajpur (Palampur)
Distt. Kangra
Himachal Pradesh
01894 239041, 01894 239041 (F)
principal@ggdsdrajpur.com
December 2011 and June 2012
2.
M/s Springdale College of Management
Studies
Madhotanda Road
Pilibhit-262 001 (U.P)
Tel: 05882259917
316790
M: 09219401731
info@scmspbt.org
December 2011 and June 2012
3.
M/s Sainath Commerce Classes
C-20, Talwandi
KOTA-324 005
Tel: 0744-2406656
M: 09829037488, 09829556325
Sainath_neeraj@yahoo.co.in
December 2011 and June 2012
4.
M/s Lucknow Commerce Academy
S-72/17, Old `C` Block Chauraha
Rajajipuram(Near Lekhraj Residence)
Lucknow-226 017
Tel: 0522 6522800
M: 09452290590
Lca.yagwani@yahoo.co.in
December 2011 and June 2012
5
M/s. Institute of Systematic Studies in
Commerce, Behind Maharaja Hotel,
Station Road, Moradabad- 244001 (UP)
Tel: 0591 2312680
M: 09412235748
Issc.mbd@gmail.com
June 2012 and December 2012
6
The Director,
Commerce County-Institute for
Commerce Studies, 137, Red Square
Market,
Near Palki Hotel,
HISSAR – [Haryana}
M: 9812066937, 8059296630
09896150937, 09812066937
commercecounty@gmail.com
December 2011 and June 2012
7
M/S CS Academy, House No. 35,
8, Marla Colony, Jattal Road
PANIPAT – [HARYANA]
M: 09896256123 / 09255289445
09896256123, 09255289445
Devindergulati58@yahoo.com
June 2012 and December 2012
8
AIMES
5/485, Vikas Nagar
Lucknow – 226022
Tel: 09415007422, 09794051011
atrivedics@gmail.com
csatrivedi@gmail.com
June 2012 and December 2012
9
Director
M/S Bharat Sir’s Commerce Institute
7445, Durga Puri
Haibowal Kalan
Ludhiana [Pb]
Tel: 09216867899
09216367899
N.A.
December 2011 and June 2012
10
Director,
M/S Academy for Professional Studies,
LUCKNOW
Tel: 0522 2458797
M: 09336177110
Himani.arts2011@gmail.com
December 2011 and June 2012
11
NIAM Institute of Applied Management,
20/1, Old Sher Shah Suri Marg, Opp:
Sector 37, Faridabad
Tel: 0129 4181800 (30 Lines)
418186 (Fax)
Niam.india@hotmail.com
December 2011 and June 2012
12
Mr Pramod Kumar
M/S Hari Institute of Education and
Training [HIET]
House No 528 E,Opp Govt Agriculture
Office, Sunder Nagar,
Jaunpur 222002 [UP]
Tel: 05452 222419
09451896313
Amit.srivastava@sparshsoft.com
Pramod.kumar@gmail.com
December 2011 and June 2012
13
Director,
M/S Bharti School of Business Studies
9-N Model Town
HISAR [Haryana]
Tel: 01662 645911
M: 09812200014, 09215306011
bsbhisar@gmail.com
mydreammba@yahoo.co.in
December 2011 and June 2012
14
Heritage Women’s Polytechnic
Krishna Colony, Near Railway Station
Railway Road
PALWAL ( Haryana )
M: 09355555103
Shiv_0306_sharma@yahoo.com
December 2011 and June 2012
15
Shri Aatm Vallabh Jain Girls’ College
Hnauman Garh Road
Sri Ganganagar ( Rajasthan ) – 335001
Tel: 0154 246377/2464371(F)
M: 09414537731
info@avjain.org
avj12@rediffmail.com
December 2011 and June 2012
16
Sri Jain Post Graduate College
Ram Ratan Kochar Circle
Nokha Road, Gangashahr
Bikaner ( Rajasthan )
PIN-334401
M: 09414430763
Tel: 0151 2270141/2544275
aftrschool@in.com
December 2011 and June 2012](https://image.slidesharecdn.com/jan-feb2012-130721225209-phpapp01/85/Jan-feb2012-30-320.jpg)
![30
Student Services
Student Company Secretary January - February 2012
17
The VIT Computer Education IIBA –
The Institute of Industrial Business
Accountants, 7-103, Vinayk-A Complex,
Nr-HDFC Bank, Durga Nursery Road,
Udaipur-313001
Tel: 0294 2418855 (Off)
M: 09829260702, 09351952799
Vit_education@rediffmail.com
December 2011 and June 2012
18
C S Launcher
Bajaj Road
Near – Taparia Bagichi
Sikar – 332001 ( Rajasthan )
Tel: 01572 254033
amitmishraskr@gmail.com
June 2012 and December 2012
19
Trinity College
Dharamshala Road
Fatehabad 125050
( Haryana )
Tel: 01667 224456
M: 09896795444
trinitycollegefbd@gmail.com
June 2012 and December 2012
20
Vishesh Academy of Commerce
DSS-33, Old Court Complex
Near Fawara Chowk
Hisar ( Haryana )
M: 9813170795, 9215170795
09813170795, 09215170795
trjain_vishesh@yahoo.co.in
June 2012 and December 2012
21
Institute of Management Technology
Sector-87, Tigaon Road
Near Sai Dham
Faridabad – 121002
Tel: 0129-2229185,
0129 2229137/2229672/
2229185/2229979
01292229888(f)
imt@imtfaridabad.com
June 2012 and December 2012
22
Bhandari Classes
270/9, “Pokharna House”
Hathi Bhata, Ajmer- 305001 ( Rajasthan )
M: 09828505155, Tel: 0145-2600184
0145 2600184, 09828505155
ggbhandari@rediffmail.com
June 2012 and December 2012
23
Pinnacle Academy
91A, Amritpuri, Opp : ISKCON Temple
East of Kailash, New Delhi- 110065
M: 9818331830, 9891060540,
9810463007, 09818331830,
9891060540, 09810463007
Tel: 011-26291900
wxyzpradeep@gmail.com
cspradeepdubey@gmail.com
June 2012 and December 2012
24
Commerce Point,
1148, New Housing Board Colony,
Panipat – 132103 ( Haryana )
M : 9896320328, 9467191327
09896320328, 09467191327
09802202512
caadityanandwani@gmail.com
nandwani_aditya@yahoo.com
June 2012 and December 2012
25
Lloyd Law College
Plot No. 11, Knowledge Park-II
Greater Noida – 201306
Tel: 0120 6492343, 3250947, 3250966
M: 9999703599, 8800621117
0987138512, 9871385313, 9818274186
lloydlawcollege@gmail.com
December 2012 June 2013
26
Rudram Institute
Gangapur City, Dist : Sawai Madhopur
( Rajasthan ), M: 9602322241
09602322241, rudruminstitute@yahoo.in
December 2012 June 2013
27
Sehgal Tutorials
147, New Prabhat Nagar, Behind Ram
Janki Mandir, Bareilly ( UP )
M: 9023439612, 9808290198
09219958083, 09023439612
09808290198, Vishal83hunt@gmail.com
Vishal83del@rediffmail.com
December 2012 June 2013
28
Institute of Corporate Studies
31/16, Civil Lines South Arya Samaj
Road, Muzaffarnagar ( UP )
M: 9412210072, 0131-2622967
0131 2622967, 09412210072
csgoelkailash@gmail.com
December 2012 June 2013
29
Commerce Academy
1747, NHBC, Sector-11, Above Purthi
Hospital, Panipat ( Haryana )
M: 8059296630
nitin.bansal.2008@gmail.com
December 2012 June 2013
WESTERN INDIA REGIONAL COUNCIL
1.
M/s Career Classes
303, Shalimar Corporate Center
8, South Tukoganj, Near Hotel Balwas
Indore (M.P), Tel: 04064688/4085394
M: 09826026468,
careerclasses@rediffmail.com
December 2011 and June 2012
2
M/s AEC India Commerce (Lawork)
208-209, Gopal Madhav Extension Place
Above Shan Shoukat, Shinde Ki
Chhawani, Gwalior-474 001 (M.P)
Tel: 0751 2424240, M: 09893016415,
09827204115, Aec.com@gmail.com
December 2011 and June 2012
3
The Principal
M/s D.M.`s College of Arts, Science
Commerce, Assagao, Bardez,
GOA-403 507, Tel: 08322268488
2268683/ 0832 2268683(f),
dmscollege@yahoo.com
June 2012 and December 2012
4
The Director
M/s Geetanjali Education Systems Private
Limited, Geetanjali College of Computer
Science Commerce, Indian Red Cross
Building Suchak Road, Opp. Shastri
Medan, RAJKOT-360 001
Tel: 0281-2587550/0281-2464377
M: 09726184584
Gespl09@gmail.com
June 2012 and December 2012
5
The Director
M/S Professional Excellence Academy
Z-8, Behind Vijay Stambh, Near ICICI
Bank, Zone-I, M.P.Nagar
BHOPAL 462011 [MP]
Tel: 0755 4225884, M: 9074622001
09893895805, Cs.amra@yahoo.com
Academy.pea@gmail.com
December 2011 and June 2012
6
The Director,
Professioinal Academy of Competitve
Execellence[PACE],
B-402, 403, Silver Mall, R N T Marg,
Indore- 452001 [MP], Tel: 0731 4044446
Reetesh_pace@rediffmail.com
paceindore@gmail.com
December 2011 and June 2012
7
H L Centre for Professional Education
H L College Campus, University Road
Navrangpura, Ahmedabad – 380009
Tel: 07932915262
07926464657(t/f), M: 9426173888
info@hlcpe.ac.in, gapathak@hlcte.ac.in
December 2011 and June 2012
8
S V P M’s College of Commerce, Science
and Computer Education, Malegaon Bk.
Tal_ Baramati, Dist: Pune – 413115,
Tel: 02112 253388/254216
M: 09423527913,
Principal.vdr@gmail.com
December 2011 and June 2012
9
Global Classes
C-31, Ravi Nagar
Near- Bhatiya Nursing Home
Raja Talab, Raipur ( Chattisgarh )0771
4075158, M: 09827108633
Globalclasses101@gmail.com
June 2012 and December 2012
10
Aakanksha Professional Classes
Near Azad Chowk, Sadar Bazar Road,
Raipur- 492001 ( Chattisgarh )
Tel: 0771-4070684
M: 9981145340; 9713788906,
09981145340, 9713788906
Atindradubey123@yahoo.in
June 2012 and December 2012](https://image.slidesharecdn.com/jan-feb2012-130721225209-phpapp01/85/Jan-feb2012-31-320.jpg)
![31
Student Services
Student Company Secretary January - February 2012
11
RL’s Professional Academy
Office No. 9 10, Center Point Building
Kranti Chowk
Aurangabad – 431001
M: 9595990044, Tel : 0240-2359901
0240 2359901
09595990044
rlsacdemy@yahoo.com
June 2012 and December 2012
12
Kanha Tutorials
747, Swarnam, besides old vineet Talkies
Opp: Gulmohar Sweets, Main Road
Marhataal
Jabalpur- 482002 ( Madya Pradesh )
M: 9827322811, Tel : 0761-4069546
0761 4069546
09827322811, 09827374225
kanhaacademyjbp@gmail.com
kanhatutorialsjabalpur@yahoo.com
June 2012 and December 2012
13
Study Circle
B 2 106, Greenland Society
J B Nagar
Andheri ( East )
Mumbai – 59
Tel : 28272829 / 28262829
028272829/028262829
December 2012 and June 2013
SOUTHERN INDIA REGIONAL COUNCIL
1.
M/s MOHANS Institute
Sreyas, Chettiparambil Lane
Thekkumbhagam,Tripunithura
Ernakulam (Distt.),
KERALA-682 301
Tel: 0484 2776089
M: 09447790689
mics@mohans.in
mohansinstitute@gmail.com
December 2011 and June 2012
2
PRESIDENT,
M/s Dr. G.G. Shetty Educational Society
®
Jnana Degula , 25/B-4
Near K.M.F.
DHARWAD-580 004
Tel :0836-2465327, 0836-2465327
2462611 (fax)
drdgshetty@yahoo.in
shetty_dg@yahoo.co.in
June 2012 and December 2012
3
M/s Bright Academy of Excellence
Baba Foundation, Plot No.46
Door No.102, Flat No.6,1st
Floor, South
West Boag Road, T. Nagar
Chennai-600 017
Tel: 044 24341116
Brightacademy2008@yahoo.co.in
December 2011 and June 2012
4
M/s Prize Academy
No.2, Teachers Colony
(Off V.M. Street)
Royapettah
Chennai-600 014
prizeacademy@yahoo.com
December 2011 and June 2012
5
M/s Sree Saraswathi Thyagaraja College
Palani Road, Thippampatti
Coimbatore Distt.
POLLACHI-642 107
Tel: 04259 266550/266008
04259 266009(f)
stc@stc.ac.in
December 2011 and June 2012
6
The Principal
M/s P.S.G.R. Krishnammal College
For Women
Peelamedu
COIMBATORE-641 004
Tel: 0422 2572222
0422 2591255(f)
principal@psgrkc.com
December 2011 June 2012
7
The Director
M/S Blue Dot Academy
N0.4, Balaji Avenue, Ist Street
T.Nagar
CHENNAI – 600017
Tel: 044 42123501/42123502
044 42123503, 044 28344816(f)
sreesri@mscindia.org
December 2011 and June 2012
8
M/S Centre for Human Resources Deve
lopment,Thekkel,Mannarakkayam PO .,
Ponkunnam [via] Kanjirapally,
Kottayam Dist.,
KERALA – 686506
Tel: 04828 208227
09447180377
chrdkply@gmail.com
December 2011 and June 2012
9
M/s Angel Auditor College,
SF N0. 37, Marakkadai Street, Brindavan
Pudukottai 622001
Tel: 04322 220645
M: 09751324644, 08973127818
Angelinstitute.secretary@gmail.com
June 2012 and December 2012
10
Chief Executive
M/S 3-C, Computer Consulting Centre
Manjathuruther Building
Good Shepherd Road
Kottayam 686001
Tel: 0481 2563134
2304457/58
Ktm3c@sify.com
December 2011 and June 2012
11
Angel Auditor College-Kovai
11/1, Nehru Nagar, Saravanampatti
PO: Saravanampatti
Coimbatore – 641305 ( Tamilnadu )
M: 9751324644, 9659965205
9842492067, 09751324644
09659965205, 09842492067
Angelinstitute.secretary@gmail.com
June 2012 and December 2012
12
Divine Education and Charitable Trust
Gurukul Building, Gurukul Road
Gurukul Nagar, Near- Munsif Court
Karkala-574104
Udupi District ( Karnatka )
Tel : 08258-233757
M: 9964475417, 09964475417,
08258233757
alohakarkala@gmail.com
June 2012 and December 2012
13
Singar Academy
52, III Floor, Salai Road
Woriur
Tiruchirappalli – 620 003
M: 09345122645, 09344604489
09150542433
June 2012 and December 2012
14
Kongu Arts Science College
Nanjanapuram
Erode- 638107
Tel : 0424-2242888, 2339933
0424 2242888/2339933
0424 2242810(f)
kasc@kasc.ac.in
December 2012 June 2013
15
Hyderabad Business School
GITAM University, Rudraram
Patancheru Mandal
Medak – 502329 (Andhra Pradesh )
Tel: 08455-220055, 9441968259
M: 09441968259,08455220058
December 2012 June 2013
16
Sri Vishnu Educational Society
Vishnupur, Bhimavaram, West Godavari
Dist: - 534202 ( Andhra Pradesh )
M: 9949433566
e-mail: bvrmsvecw@gmail.com
M: 08816 250864, 09949433566
09849822223
December 2012 June 2013](https://image.slidesharecdn.com/jan-feb2012-130721225209-phpapp01/85/Jan-feb2012-32-320.jpg)
![32
Student Services
Student Company Secretary January - February 2012
NORTHERN INDIA REGIONAL COUNCIL
ICSI- MOTHER TERESA INSTITUTE OF MANAGEMENT V S ORAL TUITION CENTRE
ORAL COACHING CLASSES FOR FOUNDATION (UNDER NEW SYLLSBUS)
AND EXECUTIVE Modules-I II* FOR DEC. 2012 SESSION
Oral Coaching Classes for Foundation (Under New Syllabus) and Executive Modules –I II* are likely to commence from 28th May, 2012 and
22nd June, 2012 respectively for Dec. 2012 session.
Course Fee: Foundation Rs. 5000/-• Executive Programme Module-I Rs. 5500/- • Executive Programme Module-II* Rs. 5000/-(To be deposited
in PNB Branch in MTIM Centre Compound.) Registration is open on all working days between 9:00 A.M. and 5:00 P.M. Admission on First-
Come-First-Served basis. Subjects Under New Syllabus: 1. Business Environment Entrepreneurship, 2. Business Management, Ethics
Communication, 3. Business Economics, 4. Fundamentals of Accounting Auditing, Timings: 4.00 to 5.30 P.M. (Monday to Saturday)
(*Provided sufficient number of students are registered for (Module-II).
For further details, please contact: Mr. J. K. Chawla, Mother Teresa Institute of Management Vocational Studies, C-Block, Preet Vihar,
Delhi-110092 # Phones: 22057200, 42420552, 42420553, Fax: 22509200, E-mail: mtim@vsnl.net
12 MR. K N RAMASAMY, Director,
-Academics, RR Academy N0.2,
Noor Veerasamy Street, Off
Vaalluvar Kottam High Road,
Nungambakkam, Chennai 600034
June`11 and
December`11 sessions of
CS Examinations
13 Principal M/S Kathir College of
Engineering “Wisdom Tree” S.F
N0. 812/1, Neelambur,
Coimbatore-641062
June ’11 and
December`11 sessions of
CS Examinations
14 Director, PSG Institute of
Management, Post Box N0.1668,
Avinashi Road, Peelamedu,
Coimbatore 641004
June ’11 and
December`11 sessions of
CS Examinations
15 Chief Executive M/S 3-C,
Computer Consulting Centre
Manjathuruther Building Good
Shepherd Road,
Kottayam - 686001
December’11 and June
‘2012 sessions of CS
Examinations.
16 Angel Auditor College-Kovai 11/1,
Nehru Nagar, Saravanampatti PO:
Saravanampatti Coimbatore –
641305 ( Tamilnadu )
Tel: 9751324644, 9659965205,
9842492067
June 2012 and
December 2012 sessions
of CS Examinations
17 Divine Education and Charitable
Trust Gurukul Building, Gurukul
Road Gurukul Nagar, Near- Munsif
Court Karkala-574104 Udupi
District ( Karnataka )
Tel : 08258-233757, 9964475417
June 2012 and
December 2012 sessions
of CS Examinations
18 Singar Academy 52, III Floor, Salai
Road Woriur Tiruchirappalli – 620
003
June 2012 and
December 2012 sessions
of CS Examinations
4 M/s Prize Academy No.2,
Teachers Colony (Off V.M. Street)
Royapettah,
Chennai-600 014
December`11 and
June`12 sessions of CS
Examination.
5 M/s Sree Saraswathi Thyagaraja
College Palani Road, Thippampatti
Coimbatore Distt.
Pollachi-642 107
December`11 and
June`12 sessions of CS
Examination.
6 The Principal M/s National College
Dindigul Road Karumandapam,
Tiruchirapalli-620 001 (T.N)
June`11 and
December`11 sessions of
CS Examinations.
7 The Principal M/s P.S.G.R.
Krishnammal College For Women
Peelamedu Coimbatore-641 004
December’ 11
June’12 sessions of CS
Examinations.
8 The Director M/S Blue Dot
Academy N0.4, Balaji Avenue,
Ist Street N0.4, Balaji Avenue, Ist
Street T.Nagar,
Chennai – 600017
December ’11 and June
’12 sessions of C S
examinations.
9 M/S Centre for Human Resources
Development,Thekkel,Mannara
kkayam PO ., Ponkunnam [via]
Kanjirapally, Kottayam Dist.,
Kerala - 686506
December’11 and June
’12 sessions of C S
examination.
10 M/s Angel Auditor College, SF N0.
37, Marakkadai Street, Brindavan
Pudukottai - 22001
June`12 and
December`12 sessions of
CS Examinations
11 Dr. Mohan Alva M/S Alva Education
Foundation Alva’s College. Sundari
Anand Alva Campus Vidyagiri,
Moodbidri Dakshina Kannada Dist.
[Karnataka]
June`11 and
December`11 sessions of
CS Examinations
Online Services for Students through students' portal www.icsi.in
Students of ICSI may avail following online services:
(i) Students can view the status of his / her registration application form already submitted for registration as student.
(ii) Students can take printout of Admit Card ( i.e. Roll No. of exam ), Registration letter, De-novo letter, Extension letter,
Professional Program enrolment letter etc.
(iii) New Students can submit their online registration form for registration in Foundation / Executive Programme.
(iv) Students who have passed both modules of Executive Program, they can submit their enrolment form for admission
in Professional Programme.
(v) Students can take printout of “e-Student Identity Card”.
(vi) Students can change their address, Mobile Number, e-mail ID etc. instantly.
(vii) Students can submit the “On-line Examination Form” for appearing in institute’s examination to be held in June /
December.
(viii) Students who have already submitted their examination form and subsequently they wish to apply for any change
in Exam Centre / or Module / or Medium of examination, they can also submit such requests through on-line
services.
Attention Students!
Executive Programme
Availability of Soft Copies of Executive Programme Study Material
The Study Material on CD ROM of each subject of Executive Programme has been made available by the Institute at all its
Regional and Chapter Offices.The students, who have been registered for Executive Programme from 1st
September, 2010 onwards
may collect the above CDs (Soft Copy) from their respective Regional/Chapter Office on production of their Identity Card.
List of Institutes Imparting Oral Coaching to CS Students
ATTENTION STUDENTS!
ONLINE EXEMPTION TEST ON COMPUTER KNOWLEDGE PROFICIENCY
In terms of Company Secretaries Regulaions, 1982 (as amended), all students are required to sucessfully, undergo a compulsory Computer
Training Programme to be eligible for enrolment to appear in CS Executive Programme examinations.
A student can be exempted from undergoing the computer training only on the basis of their present computer knowledge. Such students have
to however pass an online exemption test.
The Institute, in compliance to the above said requirements, has tied up with M/s Sify Software Limited to conduct the ONLINE EXEMPTION
TEST through its test centres spread across India.
Student should enrol for an online exemption test (to be conducted by Sify) with their registration ID and Date of Birth•
Link for online registration for the exemption test :• http://icsi.sifyitest.com
The test will be conducted at any of the recognized Sify Centre throughout India•
The list of Sify Centres including detailed process is given in the website• http://icsi/sifyitest.com
Students can pay offline/online to appear for the test•
Details about Online exemption test being conducted by M/s Sify
Duration of the Test : 80 Minutes
Fees payable online - Examination charges Rs. 440/-+ bank charges as applicable
Fees payable offline - Examination charges Rs. 440/-
Bank charges Rs. 50/-
Total Rs. 490/-
Students will be allowed TWO attempts to clear the online exemption test within a period of 30 (thirty) days against the fees mentioned above.
Studensf can also contact Sify for any query by sending mail to icsi_hlpdesk@sifyitest.com
Regisered students with Sify can log in and give their feedback/complaint through the portal.
Students may please note that M/s Aptech shall continue to provide for the computer training ONLY to the students of the Institute.](https://image.slidesharecdn.com/jan-feb2012-130721225209-phpapp01/85/Jan-feb2012-33-320.jpg)
Jan feb2012
- 3. Student Company Secretary 1 Student Company SecretaryVolume No. XXIX ISSN 0972-2874 Jan. - Feb. 2012 January - February 2012 1 Editorial Advisory Board Chairman Justice D.R. Deshmukh Members (in alphabetical order) D.P. Dash G R Bhatia Girish Ahuja (Dr.) Harish K Vaid K S Chalapati Rao (Prof.) Naval Kishore (Prof.) Om Prakash Dani Pavan Kumar Vijay R S Nigam (Prof.) Renu Budhiraja (Ms.) Sanjeev Kumar (Dr.) T V Narayanaswamy Vinod K Singhania (Dr.) Editor & Publisher : N.K. Jain The Council President Nesar Ahmad Vice-President S.N. Ananthasubramanian Members (in alphabetical order) Anil Murarka Ardhendu Sen Arun Balakrishnan Ashok Kumar Pareek Atul Hasmukhrai Mehta Atul Mittal B. Narasimhan Gopalakrishna Hegde Harish Kumar Vaid Pradeep Kumar Mittal Renuka Kumar (Ms.) Sanjay Grover Saroj Punhani (Ms.) Sridharan R Sudhir Babu C UD Choubey (Dr.) Umesh Harjivandas Ved Vikas Yashwant Khare Secretary and Chief Executive Officer : N.K. Jain SINGLE COPY Rs. 5.00 Edited, printed and published by N.K. Jain for the Institute of Company Secretaries of India, ‘ICSI House’, 22, Institutional Area, Lodi Road, New Delhi-110003 Phone : 45341000 Grams: Compsec Fax : 91-11-24626727 E-mail : info@icsi.edu Website : http//www.icsi.edu Printed at Aravali Printers & Publishers (P) Ltd., W-30, Okhla Industrial Area, Phase–II, New Delhi-110020 Phone : 26388830-32, 26389736-38 Fax : 26388829 Email–aravaliprinters@rediffmail.com The Institute is not in anyway responsible for the result of any action taken on the basis of the advertisements published in this Bulletin. From the President 03 Article - Provident Fund, Employees’ Pension and Deposit-Linked Insurance Schemes 05 SMTP/MSOP/TOP/EDP/SIP/ADP/PDP 07 Academic Guidance 08 Legal World 15 Student Services 19 Online Services for Students through students'portal 32
- 4. 2 Student Services Student Company Secretary January - February 2012 PARTICULARS FEES (RS.) REMARKS FOUNDATION PROGRAMME Admission Fee 1200 Postal Tutition Fee 2400 Total Fees → 3600 EXECUTIVE PROGRAMME Registration Fee Foundation Examination Exemption Fee Postal Tuition Fee for Executive Programme 1500 500 5000 Total Fees → 7000 (For commerce graduates) Postal Tuition Fee for Foundation Programme (payable by Non- Commerce Graduates who are seeking exemption from passing the Foundation Programme Examination under clause (iii) of Regulation 38.) 750 Total Fees 7750 (For others) Foundation Pass Student 6500 Total Fees → 6500 PROFESSIONAL PROGRAMME Postal Tutition Fee 7500 DE-NOVO REGISTRATION Registration De-Novo Fee 1500 Exemption from Foundation Examination Fee 500 Exemption from Executive Programme Examination Fee 500 EXTENSION OF REGISTRATION Extension of Registration Fee 500 Service Charge for Extension of Registration 150 EXAMINATION FEE Foundation Programme 875 Executive Programme 900 (Per Module) Professional Programme 750 (Per Module) Late Fee for receipt of Examination Application 100 Change of Examination Center/Module/Medium 100 For appearing from overseas Dubai Centre : Surcharge of US $ 100 in addition to the applicable examination fees. OTHER FEES Paper-wise Exemption Fee 100 Issue of Duplicate Identity Card Fee 50 Issue of Duplicate Pass Certificate Fee 50 Issue of Duplicate Mark Sheet 50 Issue of Transcript / certified copy of Syllabus 100 Verification of Marks Fee 100 (Per Subject) ATTENTION STUDENTS SCHEDULE OF FEES
- 5. 3 From the President Student Company Secretary January - February 2012 A dewdrop is a perfect integrity that has no filial memory of its parentage - Rabindranath Tagore Dear Students, I consider it to be a great honour to address my maiden communication to you after assuming the august office of the President of the Institute. I would like to place on record my sincere gratitude and thanks to my colleagues on the Council for reposing trust and confidence in me. Being aware of the responsibilities, I firmly believe that your continuous encouragement, guidance and whole hearted support will constantly inspire me to put my best throughout the year. At the out set, I would like to state that the integrity of our perception and action is perhaps the most important trait that determines our success in life - personal as well as the professional. It is impossible to have professional integrity without personal integrity and it has to come from within. There is no middle path to the integrity. Either you are behaving with integrity or you are not. There are innumerable studies that indicate that convenience play spoil sport to the integrity. You will appreciate that today's world is entirely different than it was a decade ago and it will not remain the same in the immediate future because of the speed at which changes are occurring. So you have to be on learning curve, unlearn and relearn the nuances of emerging paradigm, to establish yourself in the dynamic market place. In achieving this, the rich traditions, standards and values of the profession of Company Secretaries should be your guiding light. The results for December, 2011 examination was declared by the Institute on 25th of February all over India. I would like to congratulate all successful students, and those who have not been able to clear the examination this time should not feel discouraged. The best thing is to try to learn from each event and capitalize on it. Mistakes lead to future growth. It is useful admitting why things went wrong and thinking about what I am going to do to stop it happening again. Success is not measured by our position in life but by the obstacles we overcame to get there. People who have overcome obstacles are more secured than those who have never faced them. Be optimistic and maintain a positive attitude. This will help you to achieve successive successes in your personal and professional endeavours. Friends, students being one of the constituents of the profession, it will be my first and foremost priority to provide you value added efficient services. In line with its mission “to develop the high calibre professionals facilitating good Corporate Governance”, to realize its vision “To be a global leader in promoting good Corporate Governance”, the Council of the ICSI has adopted top ten goals to be achieved during 2011-2014, which includes among others, to develop a cadre of competent professionals, to improve infrastructure at Regional Councils/ Chapters, to provide best training to the students, and to enhance placement opportunities. It was in this direction, the Institute has launched a dedicated portal for the students to provide them efficient and value added services such as online registration and various matters related thereto, e-student identity card, online examination form including the facility for students to change their email, phone number, etc. I am pleased to note that a number of students are utilising this online facility, yet the number is not as per our expectations. I, therefore, advise all our students to utilise this facility to the maximum of its potential and avail the benefit of efficiency of services. You are aware that the process of syllabus review is underway to provide our students contemporary syllabus matching the expectations of dynamic business environment. The syllabus for the Foundation Programme has already been implemented w.e.f. February, 2012 and an Exposure Draft for the proposed syllabus for Executive and Professional Programme was uploaded on the website of the Institute inviting views and suggestions from students, members and other stakeholders. I am pleased to note that a number of students have sent their views on the Exposure Draft. If the present is any indicator, the expectations of stakeholders from professionals like Company Secretaries would further increase in times to come. This must prompt you to develop the vision of a great career as corporate professional. At the same time, it would require you to be on the learning curve to constantly update your knowledge and skills to come up to the stakeholders’ expectations. It will certainly require innovative thinking – the ability to "think out of the box”. It will help you achieving a competitive edge in the changing business environment. When you will put innovative thinking on a systematic foundation and develop it with conscious efforts, it will emerge as an approach creating the difference. Real difference, indeed, comes when you become part of the change and this dynamism is activated only by innovative thinking. I assure you of our full support, guidance, intellectual nourishment and opportunity to develop your knowledge and skills. The ability to communicate assumes great significance in particular for professionals. One can significantly boost his marketability by seizing any academic and professional opportunities offered to him for honing his communication skills. In this
- 6. 4 From the President Student Company Secretary January - February 2012 context, let me point out that the Institute every year through its Regional Councils /Chapters organises various programmes for the students to enable them to hone their communication skills. Likewise this year also, the following National level Competitions for the students will be organized- All India Elocution Competition● All India Moot Court Competition● All India Company Law Quiz● All India Essay Writing Competition● All India Students Conference● I invite all of you to actively participate in these programmes. Whenever and wherever opportunity arises, I advise you to take benefit of such programmes in order to make your professional lives successful. It is no longer sufficient for you to be the best in the country, you must be the best in the world. I would like to conclude by stating that you are going to enter a new exciting world of opportunities. There are extraordinary opportunities for those, who are extraordinarily prepared to convert the challenges into opportunities. We wish each one of you to be extraordinary professional and help ICSI in realising its vision. With best wishes, Yours sincerely, March 14, 2012 (CS. NESAR AHMAD) New Delhi president@icsi.edu ATTENTION STUDENTS ! SEBI (SAST) REGULATIONS 2011 APPLICABLE TO JUNE 2012 EXAMINATIONS Supplement on new Regulations available on the website of the Institute SEBI vide its Notification No. LAD-NRO/GN/2011-12/24/30181 dated September 23, 2011 notified the New SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011 replacing the Takeover Regulations namely SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 1997. As SEBI (SAST) Regulations 2011 are applicable to June 2012 examinations, a supplement on New takeover Regulations for Chapter IV of the paper ‘Corporate Restructuring & Insolvency’ and Chapter IV of paper ‘Due Diligence and Corporate Compliance Management’ is available for the students on www.icsi.edu and www.icsi.in
- 7. 5 Article Student Company Secretary January - February 2012 EDITORIAL Employees’ Provident Fund, Pension Fund and Deposit Linked Insurance Schemes are recognized as effective tools to motivate employees and boost their morale leading to better productivity. Since these schemes have statutory force as well as employers’ recognition, they render employees free from anxiety about the financial provision on premature death and superannuation from service. This article highlights various aspects connected with these schemes and tax incentives available to these schemes to make them strong security measures under statutory compulsion. INTRODUCTION Among various employees’benefit schemes, Employees Provident Fund, Pension Fund and Deposit Linked Insurance Schemes are recognized as effective tools for making adequate financial provision to the employees in two contingencies, premature death, while in service and compulsory retirement. The hazard of premature death of the bread-winner causes sudden stoppage of income to the family. On the other hand, living too long in old age after retirement is also equally dreadful. Adequate financial provision to meet these contingencies is, therefore, an imperative need. This indispensible need is fulfilled by the above schemes provided by the Employees’ Provident Fund and Miscellaneous Provisions Act, 1952 (hereinafter called the Act), which is umbrella legislation and ensures social security measures for the betterment of employees of the organized sector. EMPLOYEES’ PROVIDENT FUND SCHEME The Act provides that every establishment, other than a cooperative society, which employs not less than twenty persons, shall constitute an Employees’ Provident Fund to be administered under an irrevocable trust, which is required to be governed by the Central Board of Trustees appointed by the Government. In every State there is a State Board of Trustees appointed by the Central Government to administer the Provident Fund Schemes set up under their jurisdiction. The membership to the Fund is granted to (i) all employees who are employed in the specified establishments in India, or employed by an employer whose principal place of business is in India and (ii) directors who are bona fide whole time directors, holding not more than 10% of the issued capital of the Company and (iii) in case of directors who are whole time employees holding more than 10 % shares, if admitted as members, the contribution of employer and employees together cannot exceed a specified limit. Employees’ Provident Fund Scheme takes care of the following needs of the members: Retirement benefits, medical care, housing, family obligations, education of children and financing of insurance policies. CONTRIBUTIONS Both the employers and employees have to contribute equally to the fund @ 12% of basic wages, dearness allowance, retaining allowance, if any payable to the employees per month. The rate of contribution is 10 % with effect from 22.9.1997 in the following establishments: Any establishment with less than 20 employees (fory establishments covered prior to 22.9.1997) Any sick industrial company as defined in clause (o) of sub-y section (1) of section 3 of Sick industrial Companies Act, 1985, and which has been declared as such by the Board of Industrial and Financial Reconstruction Any establishment which has at the end of any financial year,y accumulated losses equal to or exceeding its entire net worth and Any establishment engaged in manufacturing of Jute, Breed,y Coir, and Guar Gum Any establishment seeking tax relief under Income Tax Act,y 1961. Though Income Tax act, 1961 does not specify any rate of contribution. However, the maximum contribution eligible for relief of tax under section 80C of the Act is 20% of salary or Rs. 10,000, whichever is less. The salary for this purpose consists of basic salary and dearness allowance, if the terms of employment so provide. It is also a condition that employer’s contribution should not exceed the employee’s contribution. INTEREST RATE The Central Government in consultation with the Central Board of Trustees fixes the rate of interest during the month of March/April every year. The rate of interest so fixed by the Central Government is credited to the members’ account on monthly running balance with effect from the last day of the year. The rate of interest for 1998-99 was notified as 12%, for the year 1999-2000, it was 11%, for the year 2000-2001, it was notified as 10.25%. Employees’ Provident Fund Organization (EPFO), on 15.9.2010, recommended that the interest rate for the year 2010-11 be increased from existing rate of 8.5% to 9%. The labour Ministry approved the proposal of increase in the rate of interest which was stagnant since 2005. Presently, the rate of interest with effect from 1.4.2011 is 9% per annum. INVESTMENTS The contributions paid in to the Provident Fund account are to be invested in accordance with the rules framed under the scheme, but subject to the provisions made under Rule 67 of the income tax Rules, 1962. Rule 67 of Income Tax Rules stipulates that subject to certain conditions, the Provident Fund moneys be invested as under: 25% of the investible amount should be invested in Centraly Government Securities as defined under section 2 of the Public Debt Act, 1944, created and issued by any State Government and or units of Mutual Funds which have been set up as dedicated funds for investment in Government Securities and which have been approved by Securities Exchange Board of India 15% of the investible amount should be invested in anyy other negotiable securities, the principal whereof and interest whereof is fully and unconditionally guaranteed by the Central Government or any State Government except those covered under (iii) (a) below (a) 30% of investible amount should be invested in bonds/y securities of public financial institution or of public sector bank and/or (b) 30% of investible amount should be invested in short durationy (less than one year), Term Deposit Receipt (TDR) issued by public sector banks WITHDRAWALS Two kinds of withdrawals, viz. refundable and non-refundable withdrawals are permitted. Refundable withdrawals are allowed for meeting out expenditure in respect of sickness, marriage ceremonies, travel out of India and making good the damage caused to property due to natural calamity. Non-refundable withdrawals are granted for investment purposes, viz. housing and insurance. An employee can withdraw 90% amount of P.F at credit after attaining the age of 54 years or within one year before actual retirement on superannuation, whichever is later. CONDITIONS FOR FULL PAYMENT Full payment of the amount standing to the credit of employee is allowed, if he retires from service after attaining the age of 55 years/ superannuation, whichever is later. However, full payment is also allowed in the following circumstances: PROVIDENT FUND, EMPLOYEES’ PENSION AND DEPOSIT-LINKED INSURANCE SCHEMES Hem Raj Tuteja, FCS, Jodhpur
- 8. 6 Article Student Company Secretary January - February 2012 When a member is terminated before attaining the age of 55y years/superannuation, as the case may be; When a member is retired on account of permanent or totaly disablement due to bodily or mental infirmity; When a member migrates from India for permanent settlementy abroad or for taking employment abroad; and When the employer resorts to mass retrenchment. CONDITION OF COMPLETION OF CONTINUOUS SERVICE OF TWO MONTHS FOR MAKING WITHDRAWAL Under the following contingencies, a member is allowed to make withdrawals from the Fund, provided he has completed continuous service of two months from the date on which the application for withdrawal is made by the member concerned: Where the member of a closed establishment is transferred toy the establishment which is not covered under the Employees’ Provident Fund and Miscellaneous Provisions Act, 1952; Where a member is discharged and is given retrenchmenty compensation under Industrial Dispute Act, 1949. NOMINATION Every member has to give details of himself and details of his family. A member, if, is having a family, can nominate one or more members of his family, to receive accumulated balance standing to the credit of the member in case of his premature death. If the member is having no family, he can nominate any person of his choice. Family for the purpose of the Act, means wife/husband, children, whether married or unmarried, including legally adopted children and parents of the member. A nominee can give a valid discharge and the proceeds received by the nominee are free from all encumbrances and would vest in the nominee after death of the member. EXEMPTIONS The Act provides the following exemptions: Section 17(1) (a) grants exemption to an establishment which has covered its employees in a PF Scheme, which is not less favourable than EPF Scheme, 1952. For such exempted establishment’s contributions are not less than those specified in Section 6 of the Act. Section 17(i) (b) provides exemption to an establishment whichy gives to its covered employees PF, Pension or Gratuity benefits which on the whole are not less beneficial than those provided by the Act. Section 17(2) provides exemption to a class of employees undery paragraph 27A of the EPF Scheme, 1952 where establishment has provided such class of employees with provident fund, gratuity or old age pension which are either separately or as a whole not less beneficial than those provided under the Act and the Scheme, and Under paragraph 27 of the Scheme, individual employees arey granted exemption, where the employer provides them with PF, gratuity or old age pension which are not less favorable than the benefits provided under the Act and the Scheme. EMPLOYEES’ PENSION SCHEME Employees’ Pension Scheme, a benefit defined social insurance scheme, formulated on actuarial principles for ensuring long term financial sustenance to the employees of organized sector, was notified by the Central Government on 16.11.1995. It replaced erstwhile Family Pension Scheme, 1971. Though the scheme came into force with immediate effect, but for certain members, it was made applicable retrospectively from 1.4.1993. The erstwhile scheme of 1971 was only in the nature of insurance which offered pension to the widow/widower after death of the member while in service, but the present scheme provides pension to the survivors, old aged and disabled persons. MEMBERSHIP All new members joining PF Scheme, 1952 would be members of the present scheme. The existing members of the erstwhile scheme as on 16.11.1995 were compulsorily to be members of Employees’ Pension Scheme, 1995. The existing members of PF Scheme, 1952 (as on 16.11.1995), who did not opt for joining the erstwhile Family Pension Scheme, 1971 and also the beneficiaries of deceased members under erstwhile Family Pension Scheme, 1971, who happened to die during the period between 1.4.1993 and 15.11.1995 could avail the benefit available under the new Scheme of 1995. CONTRIBUTIONS Members need not pay any contribution for joining the pension scheme of 1995. The fund of the scheme is created by partial diversion from PF contribution (corpus) at the rate of 8.33% as against 2.33% under erstwhile Family Pension Scheme, 1971. The Central Government continues to contribute at the rate of 1.16% as before, on overall wage bill of the members as at the end of the respective years. BENEFITS The Scheme offers the following benefits: 1. Pension for life to the member: Pension is payable to the members for life after retirement/superannuation and invalidation. 2. Pension to the members of family upon death of the member: Pension is payable to widow/widower for life or till remarriage;y Pension is also payable to the children/orphans (two at a time)y additionally up to 25 years of age, simultaneously with the widow/widower pension; Pension is payable to children/orphans with total and permanenty disability irrespective of age and number of such children in the family; Pension is payable to the person(s) nominated by the member,y where the member, either is unmarried or has no eligible family member to receive pension; and Where the deceased member has no family member eligibley to receive the pension and has not nominated any person to receive pension, the pension is payable to his/her dependent parents. 3. The Scheme provides facility for capital return (corpus accretion) on option formula basis. 4. There is facility to get one-third of the total amount of pension commuted. 5. Member is also eligible to obtain scheme certificate to retain membership of the scheme before attaining the age of 58 years. ELIGIBILTY TO RECEIVE BENEFITS The benefits under the Scheme are available to members on fulfilling the following conditions: (a) Completion of minimum service of 10 years, and (b) Attaining the age of 58 years (except under certain contingencies). Where an employee ceases to be in employment before completion of 58 years of age, he may at his option avail pension. However, this option cannot be exercised before completion of age of 50 years. And such early pension shall be subject to discounting factor. But, no discounting factor shall be applied where the member pre-deceases or suffers from disability. EMPLOYEES’ DEPOSIT LINKED INSURANCE SCHEME Employees’ Deposit Insurance Scheme, 1976 (in short EDLI Scheme) is in the nature of an insurance scheme and is applicable to all establishments to whom Provident Fund and Miscellaneous Provisions Act, 1952 is applicable. The amount of insurance benefit is equal to the average balance in account of the deceased member in the Provident Fund during the last 12 months before his death, or during the period of membership, whichever is less. The benefit will be in accordance with age of the member and the contribution made
- 9. 7 Article Student Company Secretary January - February 2012 by the employer on behalf of the deceased member, subjec t to ceiling of Rs.1, 30,000. The amount is payable to the nominee of the member in the form of deposit in his/her saving bank account. ADMINISTRATION The Central Board of Trustee constituted under the Provident Fund Scheme, 1952 is responsible for the administration of the EDLI Scheme. Since the Government has a financial stake in the Scheme and contributes towards the administration cost of the Scheme, it takes keen interest and monitors the administration of Scheme to see that the same is administered in an efficacious manner. The Regional PF Commissioners are responsible for speedy settlement of claims received by them. MEMBERSHIP The scheme applies to all employees who— (i) Are covered by the EPF Scheme, 1952 ,and (ii) Would have been covered by the said Scheme but for paragraph 27 of the Employees’ Provident Fund Scheme or the exemption granted to the said Scheme or the exemption granted to the establishment in which he is employed under Section 17 the Act. CONTRIBUTIONS Contribution by employer:y (i) At the rate of 0.50% of wage bill towards insurance premium. (ii) One-fourth of the insurance premium towards administration of the scheme. Contribution by the Central Government:y The Central Government shall contribute towards the expenses, a sum equivalent to one-half of the contribution made by the employer. The contribution of employer and the Central Government shall be credited by the respective Regional Provident Fund Commissioners to an account called the ‘Deposit Linked Insurance Account’ and all expenses to the cost of any benefit provided by the Scheme be met out of this account. The monies belonging to this account shall be invested in a manner prescribed in the rules relating to the Scheme. EXEMPTION Under Section 17(2A) of the Act, an employer may seek exemption from making contributions to EDLI Scheme, if he/she provides the better insurance benefits to his/her employees than those provided by the Scheme. For this purpose, he/she may submit application to the Central Government seeking exemption from contributing to EDLI. The Central Government, after being satisfied that the scheme of insurance offered by the employer is better than EDLI Scheme, may grant exemption. After obtaining exemption, the employer may resort to the alternative scheme in lieu of EDLI Scheme. Almost all insurance companies offer better group insurance schemes in lieu of EDLI Scheme SECRETARIAL MODULAR TRAINING PROGRAMMES (SMTPs)/ MANAGEMENT SKILLS ORIENTATION PROGRAMME (MSOPs) ORGANISED BY H.Q./REGIONAL COUNCILS/ CHAPTERS ELIGIBILITY OF PARTICIPANTS: ICSI Final/Professional programme passed candidates and have completed 15 months training or exempted therefrom. COURSE CONTENTS: Module I – MCA21, Module II – Practical 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 Programme Venue of the Programme Contact SIRO MSOP 13.06.2012 to 29.06.2012 03.10.2012 to 19.10.2012 Office Premises Joint Director, ICSI-SIRC HOUSE, No. 9, Wheat Crofts Road, Nungambakkam, Chennai-600034, Ph. 044-28279898 / 28222212, Telefax:28268685 E.Mail: siro@icsi.edu, icsisirc@md3.vsnl.net.in STUDENT INDUCTION PROGRAMMES (SIPs) WIRO 02.04.2012 to 11.04.2012 01.05.2012 to 08.05.2012 11.06.2012 to 18.06.2012 Office Premises Joint Director, ICSI-WIRC, 13th Jolly Maker Chambers No. 2, First Floor and Nos. 56 57, Fifth Floor, Nariman Point, Mumbai-400 021. Tel: 022-22844073, 22047569, 22047580, e-mail: wiro@icsi.edu EXECUTIVE DEVELOPMENT PROGRAMMES (EDPs) SIRO 18.04.2012 to 27.04.2012 18.07.2012 to 27.07.2012 03.09.2012 to 12.09.2012 Office Premises Joint Director, ICSI-SIRC HOUSE, No. 9, Wheat Crofts Road, Nungambakkam, Chennai-600034 Ph. 044-28279898 / 28222212, Telefax:28268685 E.Mail: siro@icsi.edu, icsisirc@md3.vsnl.net.in WIRO 12.04.2012 to 20.04.2012 10.05.2012 to 18.05.2012 19.06.2012 to 27.06.2012 Office Premises Joint Director, ICSI-WIRC, 13th Jolly Maker Chambers No. 2, First Floor and Nos. 56 57, Fifth Floor, Nariman Point, Mumbai-400 021. Tel: 022-22844073, 22047569, 22047580, e-mail: wiro@icsi.edu
- 10. 8 Academic Guidance Student Company Secretary January - February 2012 Economic and Labour Laws Foreign Contribution (Regulation) Act, 2010- An Overview1 Introduction The Foreign Contribution (Regulation) Act, 1976 was enacted to regulate the acceptance and utilization of foreign contribution or hospitality with a view to ensuring that the Parliamentary institutions, political associations, academic and other voluntary organizations as well as individuals working in important areas of national life may function in a manner consistent with the values of sovereign democratic republic. The Act was amended in 1984 to extend it provisions to cover second and subsequent recipients of foreign contribution and to the members of higher judiciary, besides introducing the system of grant of registration to the association receiving foreign contribution. Significant development have taken place since 1984 such as change in internal security scenario, an increased influence of voluntary organizations, spread of use of communication and information technology, quantum jump in the amount of foreign contribution being received, and large scale growth in the number of registered organizations. This has necessitated large scale changes in the Act of 1976 and therefore, it was thought appropriate to replace the FCRA, 1976 by a new legislation to regulate the acceptance, utilization and accounting of foreign contribution and acceptance of foreign hospitality by a person or association. The Foreign Contribution (Regulation) Act, 2010 has come into effect from May 1, 2011. The Ministry of Home Affairs has issued the necessary Gazette Notification vide S.O. 999 (E) dated the 29th April, 2011 in this regard. The Ministry of Home Affairs has also issued a Gazette Notification vide G.S.R. 349 (E) dated the 29th April, 2011 notifying the Foreign Contribution (Regulation) Rules, 2011 made under section 48 of FCRA, 2010. The FCR Rules, 2011 have come into force simultaneously with FCRA, 2010. The object of the Act is to regulate the acceptance and utilisation of foreign contribution or foreign hospitality by certain individuals or associations or companies and to prohibit acceptance and utilisation of foreign contribution or foreign hospitality for any activities detrimental to the national interest and for matters connected therewith or incidental thereto. Definitions of “Foreign contribution”, “foreign hospitality” and “Foreign source” “Foreign contribution” means the donation, delivery or transfer made by any foreign source,— (i) of any article, not being an article given to a person as a gift for his personal use, if the market value, in India, of such article, on the date of such gift, is not more than such sum as may be specified from time to time, by the Central Government by the rules made by it in this behalf; (ii) of any currency, whether Indian or foreign; (iii) of any security as defined in clause (h) of section 2 of the Securities Contracts (Regulation) Act, 1956 and includes any foreign security as defined in clause (o) of section 2 of` the Foreign Exchange Management Act, 1999. Explanation 1.— A donation, delivery or transfer of any article, currency or foreign security referred to in this clause by any person who has received it from any foreign source, either directly or through one or more persons, shall also be deemed to be foreign contribution within the meaning of this clause. Explanation 2.— The interest accrued on the foreign contribution deposited in any bank referred to in sub-section (1) of section 17 or any other income derived from the foreign contribution or interest thereon shall also be deemed to be foreign contribution within the meaning of this clause. Explanation 3.— Any amount received, by any person from any foreign source in India, by way of fee ( including fees charged by an educational institution in India from foreign student) or towards cost in lieu of goods or services rendered by such person in the ordinary course of his business, trade or commerce whether within India or outside India or any contribution received from an agent of a foreign source towards such fee or cost shall be excluded from the definition of foreign contribution within the meaning of this clause[Section 2 (1) (h)] “foreign hospitality” means any offer, not being a purely casual one, made in cash or kind by a foreign source for providing a person with the costs of travel to any foreign country or territory or with free boarding, lodging, transport or medical treatment [Section 2 (1) (i)] “Foreign source” includes, — (i) the Government of any foreign country or territory and any agency of such Government; (ii) any international agency, not being the United Nations or any of its specialised agencies, the World Bank, International Monetary Fund or such other agency as the Central Government may, by notification, specify in this behalf; (iii) a foreign company; (iv) a corporation, not being a foreign company, incorporated in a foreign country or territory; (v) a multi-national corporation referred to in sub-clause (iv) of clause (g); (vi) a company within the meaning of the Companies Act, 1956 (1 of 1956), and more than one-half of the nominal value of its share capital is held, either singly or in the aggregate, by one or more of the following, namely:— the Government of a foreign country or territory; the citizens of a foreign country or territory; (C) corporations incorporated in a foreign country or territory; (D) trusts, societies or other associations of individuals (whether incorporated or not), formed or registered in a foreign country or territory; (E) foreign company; (vii) a trade union in any foreign country or territory, whether or not registered in such foreign country or territory; (viii) a foreign trust or a foreign foundation, by whatever name called, or such trust or foundation mainly financed by a foreign country or territory; (ix) a society, club or other association of individuals formed or registered outside India; (x) a citizen of a foreign country[ Section 2 (1) (j)] Prohibition to accept foreign contribution Section 3(1) of theAct, imposes restriction on acceptance of foreign contribution by candidate for election; correspondent, columnist, cartoonist, editor, owner, printer or publisher of a registered newspaper; Judge, Government servant or employee of any corporation or any other body controlled or owned by the Government; member of any Legislature; political party or office-bearer thereof; organisation of a political nature as may be specified by the Central Government; association or company engaged in the production or broadcast of audio news or audio visual news or current affairs programmes through any electronic mode, or any other electronic form as defined in clause (r) of sub-section (1) of section 2 of the Information Technology ct, 2000 or any other mode of mass communication; correspondent or columnist, cartoonist, editor, owner of the association or company. A “corporation” for the above purpose means a corporation owned or controlled by the Government and includes a Government company as defined in section 617 of the Companies Act, 1956. Sub-section (2)(a) of Section 3 provides that no person, resident in India, and no citizen of India resident outside India, shall accept any foreign contribution, or acquire or agree to acquire any currency from a foreign source, on behalf of any political party, or any person, prohibited from accepting any foreign contribution. Executive Programme 1. Prepared by Chittaranjan Pal, Assistant Education Officer, under the guidance of Dr. S.K. Dixit, Director(Academics), The ICSI.
- 11. 9 Academic Guidance Student Company Secretary January - February 2012 Sub-section (2) (b) mandates that no person, resident in India, shall deliver any currency, whether Indian or foreign, which has been accepted from any foreign source, to any person if he knows or has reasonable cause to believe that such other person intends, or is likely, to deliver such currency to any political party or any person, prohibited from accepting any foreign contribution. Section 3(2)(c) provides that no citizen of India resident outside India shall deliver any currency, whether Indian or foreign, which has been accepted from any foreign source, to any political party or any person specified in sub-section (1) of section 3 , or both or any other person, if he knows or has reasonable cause to believe that such other person intends, or is likely, to deliver such currency to a political party or to any person specified in sub-section (1) of section 3, or both. Section 3(3) provides that no person receiving any currency, whether Indian or foreign, from a foreign source on behalf of any person or class of persons, referred to in section 9, shall deliver such currency to any person other than a person for which it was received, or to any other person, if he knows or has reasonable cause to believe that such other person intends, or is likely, to deliver such currency to a person other than the person for which such currency was received. Restriction on acceptance of foreign hospitality Section 6 prohibits acceptance of foreign hospitality by certain persons except with the prior permission of Central Government. Accordingly no member of a Legislature or office-bearer of a political party or Judge or Government servant or employee of any corporation or any other body owned or controlled by the Government shall, while visiting any country or territory outside India, accept, except with the prior permission of the Central Government, any foreign hospitality. However, it shall not be necessary to obtain any such permission for an emergent medical aid needed on account of sudden illness contracted during a visit outside India, but, where such foreign hospitality has been received, the person receiving such hospitality shall give, within one month from the date of receipt of such hospitality an intimation to the Central Government as to the receipt of such hospitality, and the source from which, and the manner in which, such hospitality was received by him. Prohibition to transfer foreign contribution to other person Section 7 prohibits the transfer of foreign contribution to other person. Accordingly, no person who is registered and granted a certificate or has obtained prior permission under thisAct; and receives any foreign contribution, shall transfer such foreign contribution to any other person unless such other person is also registered and had been granted the certificate or obtained the prior permission under the Act. However, such person may transfer, with the prior approval of the Central Government, a part of such foreign contribution to any other person who has not been granted a certificate or obtained permission under the Act in accordance with the rules made by the Central Government. Utilization of foreign contribution Section 8 (1)(a) provides that every person, who is registered and granted a certificate or given prior permission under the Act and receives any foreign contribution, shall utilise such contribution for the purposes for which the contribution has been received. Further any foreign contribution or any income arising out of it shall not be used for speculative business and that the Central Government shall, by rules, specify the activities or business which shall be construed as speculative business for the purpose of this section. Section 8 (1) (b) provides that every person, who is registered and granted a certificate or given prior permission under this Act and receives any foreign contribution, shall not defray as far as possible such sum, not exceeding fifty per cent of such contribution, received in a financial year, to meet administrative expenses. Further administrative expenses exceeding fifty per cent of such contribution may be defrayed with prior approval of the Central Government. The Central Government prescribes the elements which shall be included in the administrative expenses and the manner in which the administrative expenses shall be calculated. Power of Central Government to prohibit receipt of foreign contribution Section 9 deals with power of Central Government to prohibit receipt of foreign contribution, etc., in certain cases. Accordingly, the Central Government has been empowered to - (a) prohibit any person or organisation not specified in section 3, from accepting any foreign contribution; (b) require any person or class of persons, not specified in section 6, to obtain prior permission of the Central Government before accepting any foreign hospitality; (c) require any person or class of persons not specified in section 11, to furnish intimation within such time and in such manner as may be prescribed as to the amount of any foreign contribution received by such person or class of persons as the case may be, and the source from which and the manner in which such contribution was received and the purpose for which and the manner in which such foreign contribution was utilised; (d) without prejudice to the provisions of sub-section (1) of section 11, require any person or class of persons specified in that sub- section to obtain prior permission of the Central Government before accepting any foreign contribution; (e) require any person or class of persons, not specified in section 6, to furnish intimation, within such time and in such manner as may be prescribed, as to the receipt of any foreign hospitality, the source from which and the manner in which such hospitality was received: However, no such prohibition or requirement shall be made unless the Central Government is satisfied that the acceptance of foreign contribution by such person or class of persons, as the case may be, or the acceptance of foreign hospitality by such person, is likely to affect prejudicially the sovereignty and integrity of India; or public interest; or freedom or fairness of election to any Legislature; or friendly relations with any foreign State; or harmony between religious, racial, social, linguistic or regional groups, castes or communities. Power to prohibit payment of currency received in contravention of the Act Section 10 provides that where the Central Government is satisfied, after making such inquiry as it may deem fit, that any person has in his custody or control any article or currency or security, whether Indian or foreign, which has been accepted by such person in contravention of any of the provisions of this Act, it may, by order in writing, prohibit such person from paying, delivering, transferring or otherwise dealing with, in any manner whatsoever, such article or currency or security save in accordance with the written orders of the Central Government and a copy of such order shall be served upon the person so prohibited in the prescribed manner. Registration of certain persons with Central Government Section 11(1) requires that person having a definite cultural, economic, educational, religious or social programme shall accept foreign contribution if such person obtains a certificate of registration from the Central Government. It may be noted that any association registered with the Central Government under section 6 or granted prior permission under that section of the Foreign Contribution (Regulation) Act, 1976, as it stood immediately before the commencement of this Act, shall be deemed to have been registered or granted prior permission, as the case may be, under this Act and such registration shall be valid for a period of five years from the date on which this section comes into force. Sub-section (2) of Section 11 provides that every person referred to in sub-section (1) may, if it is not registered with the Central Government under that sub-section, accept any foreign contribution only after obtaining the prior permission of the Central Government and such prior permission shall be valid for the specific purpose for which it is obtained and from the specific source. Further if the
- 12. 10 Academic Guidance Student Company Secretary January - February 2012 person referred to in sub-sections (1) and (2) has been found guilty of violation of any of the provisions of this Act or the Foreign Contribution (Regulation) Act, 1976, the unutilised or unreceived amount of foreign contribution shall not be utilised or received, as the case may be, without the prior approval of the Central Government. Sub-section (3) of Section 11 provides that the Central Government may, by notification in the Official Gazette, specify the person or class of persons who shall obtain its prior permission before accepting the foreign contribution; or the area or areas in which the foreign contribution shall be accepted and utilised with the prior permission of the Central Government; or the purpose or purposes for which the foreign contribution shall be utilised with the prior permission of the Central Government; or the source or sources from which the foreign contribution shall be accepted with the prior permission of the Central Government. Grant of certificate of registration Section 12(1) provides that an application by a person for grant of certificate or giving prior permission, shall be made to the Central Government in such form and manner and alongwith such fee, as may be prescribed. On receipt of an application, the Central Government shall, by an order, if the application is not in the prescribed form or does not contain any of the particulars specified in that form, reject the application. If on receipt of an application for grant of certificate or giving prior permission and after making such inquiry as the Central Government deems fit, it is of the opinion that the conditions specified in sub-section (4) are satisfied, it may, ordinarily within ninety days from the date of receipt of application, register such person and grant him a certificate or give him prior permission, as the case may be, subject to such terms and conditions as may be prescribed. In case the Central Government does not grant, within the said period of ninety days, a certificate or give prior permission, it shall communicate the reasons therefor to the applicant and that a person shall not be eligible for grant of certificate or giving prior permission, if his certificate has been suspended and such suspension of certificate continues on the date of making application. Sub-section (4) of Section 12 provides following conditions for granting certificate of registration :— (a) the person making an application for registration or grant of prior permission under sub-section (1),— (i) is not fictitious or benami; (ii) has not been prosecuted or convicted for indulging in activities aimed at conversion through inducement or force, either directly or indirectly, from one religious faith to another; (iii) has not been prosecuted or convicted for creating communal tension or disharmony in any specified district or any other part of the country; (iv) has not been found guilty or diversion or mis-utilisation of its funds; (v) is not engaged or likely to engage in propagation of sedition or advocate violent methods to achieve its ends; (vi) is not likely to use the foreign contribution for personal gains or divert it for undesirable purposes; (vii) has not contravened any of the provisions of this Act; (viii) has not been prohibited from accepting foreign contribution; (b) the person making an application for registration under sub- section (1) has undertaken reasonable activity in its chosen filed for the benefit of the society for which the foreign contribution is proposed to be utilised; (c) the person making an application for giving prior permission under sub-section (1) has prepared a reasonable project for the benefit of the society for which the foreign contribution is proposed to be utilised; (d) in case the person being an individual, such individual has neither been convicted under any law for the time being in force nor any prosecution for any offence pending against him; (e) in case the person being other than an individual, any of its directors or office bearers has neither been convicted under any law for the time being in force nor any prosecution for any offence is pending against him; (f) the acceptance of foreign contribution by the person referred to in sub- section (1) is not likely to affect prejudicially— (i) the sovereignty and integrity of India; or (ii) the security, strategic, scientific or economic interest of the State; or (iii) the public interest; or (iv) freedom or fairness of election to any Legislature; or (v) friendly relation with any foreign State; or (vi) harmony between religious, racial, social, linguistic, regional groups, castes or communities; (g) the acceptance of foreign contribution referred to in sub-section (1),— (i) shall not lead to incitement of an offence; (ii) shall not endanger the life or physical safety of any person. Where the Central Government refuses the grant of certificate or does not give prior permission, it shall record in its order the reasons therefor and furnish a copy thereof to the applicant. The Central Government may not communicate the reasons for refusal for grant of certificate or for not giving prior permission to the applicant under this section in cases where is no obligation to give any information or documents or records or papers under the Right to Information Act, 2005. It may be noted that the certificate granted shall be valid for a period of five years and the prior permission shall be valid for the specific purpose or specific amount of foreign contribution proposed to be received, as the case may be. Suspension of certificate Section 13 (1) provides that where the Central Government, for reasons to be recorded in writing, is satisfied that pending consideration of the question of cancelling the certificate on any of the grounds mentioned in sub-section (1) of section 14, it is necessary so to do, it may, by order in writing, suspend the certificate for such period not exceeding one hundred and eighty days as may be specified in the order. Further every person whose certificate has been suspended shall not receive any foreign contribution during the period of suspension of certificate. However, the Central Government, on an application made by such person, if it considers appropriate, allow receipt of any foreign contribution by such person on such terms and conditions as it may specify. Every person whose certificate has been suspended shall utilise, in the prescribed manner, the foreign contribution in his custody with the prior approval of the Central Government. Cancellation of certificate Section 14 empowers the Central Government to cancel the certificate. Accordingly, the Central Government may, if it is satisfied after making such inquiry as it may deem fit, by an order, cancel the certificate if — (a) the holder of the certificate has made a statement in, or in relation to, the application for the grant of registration or renewal thereof, which is incorrect or false; or (b) the holder of the certificate has violated any of the terms and conditions of the certificate or renewal thereof; or (c) in the opinion of the Central Government, it is necessary in the public interest to cancel the certificate; or (d) the holder of certificate has violated any of the provisions of this Act or rules or order made thereunder; or (e) if the holder of the certificate has not been engaged in any reasonable activity in its chosen field for the benefit of the society for two consecutive years or has become defunct.
- 13. 11 Academic Guidance Student Company Secretary January - February 2012 Before passing an order of cancellation of certificate, the person concerned would be given a reasonable opportunity of being heard. Any person, whose certificate has been cancelled, shall not be eligible for registration or grant of prior permission for a period of three years from the date of cancellation of such certificate. Management of foreign contribution of person whose certificate has been cancelled Section 15 provides that the foreign contribution and assets created out of the foreign contribution in the custody of every person whose certificate has been cancelled under section 14 shall vest in such authority as may be prescribed. The authority may, if it considers necessary and in public interest, manage the activities of the person referred to in that sub-section for such period and in such manner, as the Central Government may direct. Such authority may utilise the foreign contribution or dispose of the assets created out of it in case adequate funds are not available for running such activity. The authority shall return the foreign contribution and the assets vested upon it to the person, if such person is subsequently registered under this Act. Renewal of certificate Every person who has been granted a certificate under section 12 shall have such certificate renewed within six months before the expiry of the period of the certificate. Application for Renewal The application for renewal of the certificate shall be made to the Central Government in such form and manner and accompanied by such fee as may be prescribed. The Central Government shall renew the certificate, ordinarily within ninety days from the date of receipt of application for renewal of certificate subject to such terms and conditions as it may deem fit and grant a certificate of renewal for a period of five years. In case the Central Government does not renew the certificate within the said period of ninety days, it shall communicate the reasons therefor to the applicant. The Central Government may refuse to renew the certificate in case where a person has violated any of the provisions of this Act or rules made thereunder. General Commercial Laws Right to Information Act, 2005 - An Overview2 The preamble of the act emphasizes on setting the regime of right to information for citizens to secure access to information under the control of public authorities, in order to promote transparency and accountability in the working of every public authority. The need of this act was felt as democracy requires an informed citizenry and transparency of information. It is a central legislation, extending to whole of India except the state of Jammu and Kashmir. The right to information is considered as the Fundamental Right. Objectives of the Act To set out a practical regime of right to information for citizens.y To secure access to information under the control of publicy authorities. To promote transparency and accountability in the working ofy every public authority. To contain corruption.y To increase citizens’ awareness and ability to exercise theiry other rights. To equip them to participate meaningfully in the developmenty process. Relevant Definitions (Section 2) appropriate Government means in relation to a public authority which is established, constituted, owned, controlled or substantially financed by funds provided directly or indirectly— (i) by the Central Government or the Union territory administration, the Central Government; (ii) by the State Government, the State Government information means any material in any form, including records, documents, memos, e-mails, opinions, advices, press releases, circulars, orders, logbooks, contracts, reports, papers, samples, models, data material held in any electronic form and information relating to any private body which can be accessed by a public authority under any other law for the time being in force. public authority means any authority or body or institution of self- government established or constituted— (a) by or under the Constitution; (b) by any other law made by Parliament; (c) by any other law made by State Legislature; (d) by notification issued or order made by the appropriate Government, and includes any— (i) body owned, controlled or substantially financed; (ii) non-Government organisation substantially financed, directly or indirectly by funds provided by the appropriate Government. right to information means the right to information accessible under this Act which is held by or under the control of any public authority and includes the right to— (i) inspection of work, documents, records; (ii) taking notes, extracts or certified copies of documents or records; (iii) taking certified samples of material; (iv) obtaining information in the form of diskettes, floppies, tapes, video cassettes or in any other electronic mode or through printouts where such information is stored in a computer or in any other device. Obligations of Public Authority To maintain records and disseminate information in such mannery and form which is easily accessible to the public. To publish decisions which affect public.y To take steps to provide as much information to the public,y suo motu at regular intervals, so that public has minimum resort to the use of this Act. To designate an officer as Public Information Officer toy disseminate the information sought under this Act. Exempted Information (Section 8) Affects the sovereignty and integrity of India.y Forbidden by any court of law or tribunal.y Breach of privilege of Parliament or the State Legislaturey Commercial confidence, trade secrets or intellectual property.y Information held in fiduciary relation.y Information received from a foreign government.y Information that endangers life.y Information which impede the process of investigation ory prosecution. Cabinet papers.y Information which relates to personal matters, the disclosure ofy which has no bearing on any public activity or interest. Information related to agencies mentioned in the Secondy Schedule of the Act. Information dating to event/matter twenty years back shall also be provided). Procedure to apply for RTI Apply in plain paper, no prescribed format, with requisite feey of rupees 10 by way of cash, postal order, banker's Cheque2. Prepared by Chittaranjan Pal and Nandini Raj Gupta, Assistant Education Officers, under the guidance of Dr. S.K. Dixit, Director(Academics), The ICSI.
- 14. 12 Academic Guidance Student Company Secretary January - February 2012 Appeal within 90 days Appeal within 30 days +10 days 48 hrs + 5 days 30 days Inquiry to Public Authority Central Information Public Officer Central Assistant Information Public Officer Information related to life and liberty Information related to Administrative and Quasi-judicial decisions Information related to third party Appellate Officer SIC/CIC High Court Supreme Court disposition of appeal: 30 days or extend not beyond 45 days (Process of Seeking Information) or demand draft; (in some states through money order/ affixing court fee stamp) There is no need to using Note-sheet, or the Court stampy paper. While asking for information there is no restriction on numbery of pages. There is no restriction on number of questions that can bey asked in one application. However, it is advisable to ask limited set of questions and only related questions in one application. Separate application may be used for non-related information. Questions must relate to administrative or quasi-judicialy decisions. There is no need to mention the reason behind the informationy so sought. DISPOSAL OF REQUEST TIME PERIOD Time limit for giving information 30 days If information concerns life and liberty of a person must be given within 48 hrs If information is sought from Central/ State Assistant Public Information Officer a period of 5 days be added If information is given by third party then invite objections if any add 10 extra days No action on application for 30 days deemed refusal Appeals Internal First appeal to the officer immediately senior to Public Informationy Officer within 30 days of decision. Appeal to be disposed off within a period of 30 days extendabley upto a total of 45 days. External Second appeal to CIC/SIC within 90 days of decision ofy Appellate Authority. (In both the appeals onus to justify denial of request shall be on the PIO. Decision of the CIC/SIC is final and binding.) PENALTIES The CIC/SCIC shall impose a penalty ofy ` 250/- per day. Total amount will not exceedy ` 25,000 for– Not furnishing information in 30 days Misleading the applicant Providing wrong information Not publishing information suo motu Not computerizing data and uploading on website. CIC/SIC empowered to impose penalty on PIO. They can alsoy recommend disciplinary action against an erring PIO.
- 15. 13 Academic Guidance Student Company Secretary January - February 2012 Securities Laws and Compliances Exchange Traded Interest Rate Futures3 Interest Rate Futures means a standardized interest rate derivative contract traded on a recognized stock exchange to buy or sell a notional security or any other interest bearing instrument or an index of such instruments or interest rates at a specified future date, at a price determined at the time of the contract. India has an active government securities (G-secs) market where primary issuance is at market-determined rates. In order to help investors guard against interest rate fluctuations, Securities and Exchange Board of India (SEBI) introduced two-year and five-year exchange-traded IRFs (Interest Rate Futures) in government bonds. Now this has been decided to permit the introduction of cash settled futures on 2-year and 5-year notional coupon bearing Government of India security on currency derivatives segment of stock exchanges. Earlier, the IRF, traded on currency derivative segment of stock exchanges, was allowed in 91-day treasury bills and 10-year government securities. Investors purchase or sell IRFs to hedge risks arising from fluctuation in interest rates, which depend on various factors including RBI policy, demand for liquidity and flow of overseas funds. As per the guidelines, the minimum lot size for such instruments should be Rs 2 lakh. Residents and foreign institutional investors (FIIs) can trade in these instruments. In case of FIIs, the total gross long (bought) position in cash and IRF markets taken together should not exceed their individual permissible limit for investment in G-secs. Amended directions of Reserve Bank of India on Interest Rate Futures The Reserve Bank of India vide its notification no. IDMD. PCD/ ED(RG)-2011 dated December 30, 2011 has amended the directions on Interest Rate Futures (IRFs) on Government Securities permitting 2-year and 5-year IRFs. According to the directions, the 2-year and 5-year IRF contracts would be on 2-year and 5-yr notional coupon bearing Government of India security, respectively. These would be cash-settled at expiry by the stock exchanges offering the contracts. The final settlement price of the 2-year and 5-year IRF contracts would be based on the yields of the basket of securities (as specified by respective stock exchanges) and disseminated by Fixed Income Money Market and Derivatives Association of India (FIMMDA) for the limited purpose of settlement of IRF contracts, as per the guidelines issued by the Reserve Bank from time to time Permitted instruments i) Interest Rate Futures are permitted on 91-Day Treasury Bills, 2-year, 5-year and 10-year notional coupon bearing Government of India security or any other product, as may be approved by the Reserve Bank from time to time. ii) Persons resident in India may purchase or sell Interest Rate Futures referred to in sub-paragraph (i) to hedge an exposure to interest rate risk or otherwise. Foreign Institutional Investors, registered with Securities and Exchange Board of India, may purchase or sell Interest Rate Futures referred to in sub- paragraph (i) subject to the condition that the total gross long (bought) position in cash and Interest Rate Futures markets taken together does not exceed their individual permissible limit for investment in government securities and the total gross short (sold) position, for the purpose of hedging only, does not exceed their long position in the government securities and in Interest Rate Futures at any point in time. iii) Notwithstanding anything contained in sub-paragraph (i), no scheduled bank or such other agency falling under the regulatory purview of the Reserve Bank under the Reserve Bank of India Act, 1934, the Banking Regulation Act, 1949 or any other Act or instrument having the force of law shall participate in the Interest Rate Futures market without the permission from the respective regulatory Department of the Reserve Bank. iv) Agencies falling under the regulatory purview of any other regulator established by law shall not participate in Interest Rate Futures market except with the permission of their respective regulators and participation of such agencies as members or clients shall be in accordance with the guidelines issued by the regulator concerned. Features of Interest Rate Futures 1. The 10-year Interest Rate Futures contract shall have the following features: a. The contract shall be on 10-year notional coupon bearing Government of India security. b. The notional coupon shall be 7% per annum with semi- annual compounding. c. The contract shall be settled by physical delivery of deliverable grade securities using the electronic book entry system of the existing Depositories, namely, National Securities Depositories Ltd. and Central Depository Services (India) Ltd. and Public Debt Office of the Reserve Bank. d. Deliverable grade securities’ shall comprise GoI securities maturing at least 7.5 years but not more than 15 years from the first day of the delivery month with a minimum total outstanding stock of `10,000 crore. {Exchanges may fix their own basket of securities for delivery from the deliverable grade securities in accordance with guidelines issued by the Securities Exchange Board of India from time to time} 2. {The 91-Day T-Bill Futures shall have the following features: a. The contract shall be on 91-Day Treasury Bills issued by the Government of India. b. The contract shall be cash settled in Indian Rupees. c. The final settlement price of the contract shall be based on the weighted average price/yield obtained in the weekly auction of the 91-Day Treasury Bills on the date of expiry of the contract} 3. {The 2-year and 5-year Interest Rate Futures contract shall have the following features: a. The 2-year and 5-year Interest Rate Futures contracts shall be on 2-year and 5-yr notional coupon bearing Government of India security respectively. b. The notional coupon for the 2-year bond shall be 7% per annum and that of the 5-year bond shall be 7% with semi- annual compounding. c. The contracts shall be cash-settled by the stock exchanges offering the contracts. d. The final settlement price of the 2-year and 5-year Interest Rate Futures contracts shall be based on the yields on basket of securities for each Interest Rate Futures contract specified by the respective stock exchange in accordance with guidelines issued by the Securities Exchange Board of India from time to time. e. The yields of the Government of India securities [indicated at para 4.3 (d) above] shall be polled and the same shall be as per the guidelines issued by the Reserve Bank of India from time to time}. Membership Interest Rate Futures contracts on instruments referred to in sub-paragraph (i) of paragraph 3 shall be traded on the Currency Derivative Segment of a recognized Stock Exchange. The members registered with Securities and Exchange Board of India for trading in Currency /Equity Derivative Segment shall also be eligible to trade in Interest Rate Futures referred to in sub-paragraph (i) of paragraph 3. 3. Prepared by Mahesh Kumar Airan, Assistant Education Officer, under the guidance of Sonia Baijal, Deputy Director, The ICSI.
- 16. 14 Academic Guidance Student Company Secretary January - February 2012 4. Compiled by Sudhir Kumar Saklani, Assistant Education Officer, under the guidance of Dr S K Dixit, Director, The ICSI. Membership for both trading and clearing, in the Interest Rate Futures segment shall be subject to the guidelines issued by the Securities and Exchange Board of India. Position limits i) The position limits for various classes of participants in the Interest Rate Futures market shall be subject to the guidelines issued by the Securities and Exchange Board of India. ii) All regulated entities shall operate within the prudential limits set by the regulator concerned. Risk Management measures The trading of Interest Rate Futures contracts referred to in sub-paragraph (i) of paragraph 3 shall be subject to maintaining initial, extreme loss and calendar spread margins and the Clearing Corporations / Clearing Houses of the exchanges should ensure maintenance of such margins by the participants on the basis of the guidelines issued by the Securities and Exchange Board of India from time to time. Surveillance and disclosures The surveillance and disclosures of transactions in the Interest Rate Futures market shall be carried out in accordance with the guidelines issued by the Securities and Exchange Board of India. Company Law Unlisted Companies (Preferential Allotment) Rules, 20114 Recently the MCA released the Draft Unlisted Companies (Preferential Allotment) Rules, 2011 vide notification dated the 14th December, 2011. The Rules seeks to substitute the Unlisted Companies (Preferential Allotment) Rules, 2003. The Rules inter alia requires more disclosures and also mandates the securities to be kept in a demat form. Here are some points of the rules: The Rules applies only to unlisted public companies in respect ofy preferential issue of equity shares, fully convertible debentures, partly convertible debentures or any other financial instrument which would be convertible into or exchanged with equity share at a later date. The Rules amended the definitions like “preferential allotment”y and “special resolution”. The issue of shares can be only made, if (i) the AoA of they company authorizes to do so and (ii) a special resolution is passed at the general meeting authorizing the allotment. The special resolution contains the name, father’s name, addressy and occupation of persons to whom such allotment be made. The special resolution shall be acted upon within a period of 12y months. The company has to make disclosures in the offer document asy prescribed. All monies payable on subscription of securities shall be paidy through cheque or demand draft or other banking channel but not by cash. All monies received on such application shall be kept iny a separate bank account and shall be utilized only for (a) adjustment against allotment of securities and (b) the repayment of money when company is unable to allot shares. Both the copy of the special resolution and the offer documenty has to be filed with the RoC. Allotment of securities shall be completed with in a period ofy 60 days from the date of receipt of application money and in case the company is not able to allot shares with in a period of 60 days, it shall repay the amount within 15 days thereafter, failing which the company is liable to pay interest at the rate of 12% p.a. The company shall not make any advertisement for the same.y NOTIFICATION ICSI/CS/03/2012 MERIT-CUM-MEANS ASSISTANCE SCHEME, 1983 In pursuance of para 13 of the “Merit-cum-Means Assistance (Company Secretaryship Course) Scheme, 1983”, as amended upto 18th August, 2009, applications are invited to reach the Institute in the prescribed form on or before 25th May, 2012 for award of 25 numbers of financial assistance each for pursuing Executive Programme and Professional Programme of the “company secretaryship” from students who fulfil the eligibility criteria laid down under the said scheme. According to the scheme, a candidate applying for assistance should have passed Foundation Programme or Both Modules of the Executive Programme examination without exemption in any paper, at one sitting, in the first attempt in December, 2011 examination. The income of such an applicant, if employed or is having an independent source of income, should not be more than Rs.1,50,000/- per annum and if he/she is dependent on his/her parents/guardian/spouse whether partially or wholly, the combined gross income from all sources should not be more than Rs.2,50,000/- per annum. Prescribed application form together with a copy of the Merit-cum-Means Assistance (Company Secretaryship Course) Scheme, 1983 can be downloaded from the Institute’s Website link: http://www.icsi.edu/Student/MeritScholarship/tabid/1768/ Default.aspx or obtained by post from the Institute free of cost by sending a self-addressed envelope of 23 cms. x 11 cms. size duly affixed with postage stamp worth Rs.10/-. Applications not made on the prescribed forms and/or without supporting documents, incomplete applications, applications not fulfilling the eligibility criteria laid down under the scheme or applications not reaching the Institute on or before 25th May, 2012 are liable to be rejected. BY ORDER OF THE COUNCIL File No.207:Exams:2012 (CS N. K. JAIN) SECRETARY CEO Dated, the 1st February, 2012 New Delhi – 110 003. Results of Company Secretaries Examinations - December 2011 the Results of candidates who have appeared in the Foundation Programme, Executive Programme and Professional Programme Examinations of Company Secretaries held in December 2011 are available on the website of the Institute. For results log on to: www.icsi.edu; www.icsi.in
- 17. 15 Legal World Student Company Secretary January - February 2012 LEGAL WORLD CORPORATE LAWS LW(S)1.02.2012 RAHEJAUNIVERSAL LIMITED v. NRC LIMITED ORS [SC] Civil Appeal No. 1920 of 2012 (Arising out of SLP (C) No.26149 of 2011) with Civil Appeal No. 1921 of 2012 [Arising out of SLP (C) Nos. 5360 / 2012 (CC 15948/2011)], Civil Appeal No. 1922 of 2012 (Arising out of SLP (C) No.26624 of 2011), Civil Appeal No. 1923 of 2012 (Arising out of SLP (C) No.26964 of 2011) S.H. Kapadia CJI, K.S. Radhakrishnan Swatanter Kumar, JJ.[Decided on 07/02/2012] Section 22 of the Sick Industrial Companies (Special Provisions) Act, 1985 read with section 53A of the Transfer of Property Act, 1882 - Agreement to sell land by a sick company - Possession of land given to the purchaser - BIFR restricts the sale - Whether correct - Held, Yes. Brief facts:An interesting question of law as to the ambit and scope of Section 22 of the Sick Industrial Companies (Special Provisions) Act, 1985 (for short, the ''Act of 1985'') and its overriding application over the provisions of Transfer of Property Act, 1882 (for short, the ''Act of 1882''), with particular reference to Section 53A and Section 54 of the latter Act, arises for consideration in the present case. In order to bring in additional funds required for financial restructuring,Respondent company NRC Limited intensified its efforts to dispose of the surplus land and entered into a MOU with the appellant company for the sale of about 344 acres of land for a total consideration of Rs.166.40 crore.There is some dispute between the parties with regard to the manner and time in which these payments were or were not made. In 2008 the Respondent registered with the BIFR as sick company. Meanwhile, the Appellant refused to release the third instalment and resultantly, even the dues of 577 employees, who had taken the benefit of the early retirement scheme, could not be cleared. The BIFR, vide its order dated 16th July, 2009, fixed the cut - off date as 30th July, 2007. It directed that the sale of assets, including investments, will require prior approval of the BIFR. The BIFR treated the land as an investment and has put certain restrictions thereupon, including that of sale of assets, which required the prior approval of BIFR as the Respondent-Company was under the purview of the Act of 1985. With reference to the land, it was directed that Capacity Valuation Report should be placed on record to show how the sale consideration of Rs.166.40 crore was arrived at. Aggrieved from this order, both theAppellant as well as the Respondent preferred an appeal before the AAIFR, which made major variations in the order of the BIFR. The correctness and legality of this order of the AAIFR was questioned by the Appellant, Respondent and the NRC Mazdoor Sangh before the High Court. The High Court quashed the order of the AAIFR and confirmed the order passed by the BIFR. The appellant appealed to the Supreme Court. Decision: Appeal dismissed. Reason: Referring to the facts of the present case, the land was one of the major assets of the Respondent Company and in the event the said asset was kept outside the scope of the scheme or its sale was permitted by the BIFR, probably the company could never be revived and any effort in that direction de hors such asset of the company would be in futility. Besides, the fact that the statutory protection contained in Section 22(3) was available to the company, it could be stated with more emphasis that the BIFR could even adopt and permit the transaction with such adoption as it may have deemed appropriate. The imperative nature of the functions of the BIFR under the provisions of the Act of 1985 and the overriding effect of its provisions fully support such a view. The unambiguous principle of law that emerges is that the provisions of the Act of 1985 shall normally override the other laws except the laws which have been specifically excluded by the Legislature under Section 32 of the Act of 1985. The Act of 1985 has been held to be a special statute vis - a - vis the other laws, most of which have been indicated above. In the present case, we are concerned with the provisions of the Act of 1882. It is the case of the respondent - company before us that they have got an interest in the immovable property by virtue of the Memorandum of Understanding, Agreements dated 1st March, 2007 and 17th August, 2010 and by part performance, as they had been given possession of the land in question. It was contended that as their interests were duly protected under the provisions of the Act of 1882, the BIFR/AAIFR, in exercise of its powers under Sections 22(1), 22(3) and 22A of the Act of 1985, cannot place any restriction upon their title or interest in the immovable property. In other words, the contention is that vis - a - vis the Act of 1985, the provisions of the Act of 1882 shall prevail. TheAct of 1882 is a general law and controls and operates in a very wide field. It was anAct enacted for and related to transfer of immovable property in India and to decide the disputes as well as to resolve the confusion and conflict, which was in existence, as the courts were forced to decide the disputes according to their own notions of justice and fair play. The Act of 1882 does not have application to a particular situation or class of persons. On the contrary, the Act of 1985 is a special legislation providing for imperative functioning of specialized bodies like the BIFR and AAIFR and is intended to apply to a very specific situation, i.e., where a company is a sick industrial company. It has no application even to other different kinds of companies within the purview of the Companies Act, except sick industrial companies. The Legislature has undoubtedly given an overriding effect to the provisions of the Act of 1985 and even restricted the jurisdiction of the civil courts, as is demonstrated from the language of Sections 26 and 32 of the Act of 1985. Thus, we have no hesitation in holding that the provisions of the Act of 1985 shall prevail over the provisions of the Act of 1882. The contention raised before us is that in view of the provisions of Sections 53A and 54 of the Act of 1882, the title in the property in question is vested in the Respondent - Company and they are entitled to transfer the property, free from any restrictions or limitations. As such, the order of the High Court is liable to be set aside and that of the AAIFR be restored. In view of our afore - stated discussion and the reasons to follow, we are unable to accept this contention entirely or even in part for that matter. The principle of law that emerges, which consistently has judicial benediction, is that a scheme for rehabilitation or restructuring of a sick industrial company undertaken by a specialized body like the BIFR/AAIFR should, as far as legally permissible, remain obstruction free and the events should take place as pre - ordained, during consideration and successful implementation of the formulated scheme. Wide jurisdiction is vested in BIFR/AAIFR to issue directives, declarations and prohibitory orders within the rationalized scope and limitations prescribed under Section 22(1), 22(3) and 22A of the Act of 1985. For the reasons afore - recorded, the present appeals are dismissed. The order of the BIFR dated 16th July, 2009 which has merged into the order of the High Court dated 29th July, 2011 is maintained while that of the AAIFR dated 28th May, 2010 is set aside. The parties are directed to appear before the BIFR which shall proceed with the matter in accordance with law. However, we express a poised hope that the BIFR would deal with and dispose of the matter expeditiously. GENERAL LAWS LW(S) 2.02.2012 JIK INDUSTRIES LIMITED ORS v. AMARLAL V. JUMANI ANR [SC] SLP (Crl.) No.6643 - 6651 of 2010 related batch of appeals Asok Kumar Ganguly Jagdish Singh Khehar, JJ. [Decided on 01/02/2012]
- 18. 16 Legal World Student Company Secretary January - February 2012 Section 147 of the Negotiable Instruments Act, 1881 read with Section 391 of the Companies Act, 1956 - Compromise with creditors - Scheme sanctioned by the court - Whether results in automatic compounding of the offence of cheque dishonour - Held, No. Brief facts: This group of appeals were heard together as they involve common questions of law. There are some factual differences but the main argument by the appellant(s) in this matter was advanced on behalf of the Sharp Industries Limited in SLP (Crl.) No.6643 - 6651 of 2010 and the facts are taken mostly from the said case. The material facts of the case are that the appellant company came out with a scheme by which it was agreed that the appellant company should be revived and thereafter payments will be made to the creditors. Pursuant to such scheme the appellant company filed a petition under Section 391 of the Companies Act to the High Court. The whole scheme was placed before the High Court and according to the appellant(s), first order of the scheme came to be passed by the Hon'ble High Court by its order dated 5th May, 2005 in Company Petition No.92 of 2005. At the time the said company petition was pending, a meeting was convened by the appellant company on 1.6.05 and the same was attended by several creditors including representative of the first respondents and they opposed the scheme. Despite the said opposition, the appellant(s) succeeded in getting the scheme approved by statutory majority as required under the law. Thereafter, on 17.11.2005 another company petition with a fresh scheme (Company petition No. 460 of 2005) was filed. After the said company petition was filed all proceedings which were initiated by different companies against the appellant(s) came to be stayed by the High Court. In view of the aforesaid scheme the appellant company filed application for compounding under Section 147 of the N.I. Act read with Section 320 of the Criminal Procedure Code (hereinafter, ''the Code'') and Section 391 of the Companies Act. However, the respondents opposed the said prayer of the petitioner and by an order dated 19th January, 2007, the learned Chief Judicial Magistrate, Ahmednagar rejected the application filed by the appellant for termination of the proceedings inter alia on the ground that the learned Magistrate has no power to quash or terminate the proceedings. Being aggrieved by the said order of the Magistrate, the appellants filed writ petitions before the High court, which was dismissed. By way of a detailed judgment, the High Court after dismissing the writ petitions held that sanction of a scheme under Section 391 of the Companies Act, 1956 (hereinafter ''Companies Act'') does not amount to compounding of an offence under Section 138 read with Section 141 of the N.I. Act. The High Court also held that sanction of a scheme under Section 391 of the Companies Act will not have the effect of termination or dismissal of complaint proceedings under N.I. Act. However, the learned Judge made it clear that the judgment of the High Court will not prevent the petitioners from filing separate application invoking the provisions of Section 482 Criminal Procedure Code, if they are so advised. Appellants approached the Supreme Court. Decision: Appeal dismissed. Reason: Considering the submissions of the rival parties, this Court finds that the effect of approval of a scheme of compromise and arrangement under Section 391 of the Companies Act is that it binds the dissenting minority, the company as also the liquidator if the company is under winding up. Even if the aforesaid position is accepted the same does not have much effect on any criminal proceedings initiated by the respondent creditors for non - payment of debts of the company arising out of dishonour of cheques. Factually the allegation of the respondent is that even payment under the scheme has not been made. However, without going into those factual controversies, the legal position is that a scheme under Section 391 of the Companies Act does not have the effect of creating new debt. The scheme simply makes the original debt payable in a manner and to the extent provided for in the scheme. In the instant appeal in most of the cases the offence under the N.I. Act has been committed prior to the scheme. Therefore, the offence which has already been committed prior to the scheme does not get automatically compounded only as a result of the said scheme. Therefore, even by relying on the ratio of the aforesaid judgment, this Court cannot accept the appellant's contention that the scheme under Section 391 of the Companies Act will have the effect of automatically compounding the offence under the N.I. Act. Therefore, the main argument that once a scheme under Section 391 of the Companies Act is sanctioned by the Court the same operates as compounding of offence under Section 138 read with Section 147 of the N.I. Act cannot be accepted. Rather the principle which has been reiterated by this Court repeatedly in the aforesaid judgments is that a scheme under Section 391 of the Companies Act cannot be contrary to any law. From this consistent view of this Court it clearly follows that a scheme under Section 391 of the Companies Act cannot have the effect of overriding the requirement of any law. The compounding of an offence is always controlled by statutory provision. There are various features in the compounding of an offence and those features must be satisfied before it can be claimed by the offender that the offence has been compounded. Thus, compounding of an offence cannot be achieved indirectly by the sanctioning of a scheme by the Company Court. In our country also when the Criminal Procedure Code, 1861 was enacted it was silent about the compounding of offence. Subsequently, when the next Code of 1872 was introduced it mentioned about compounding in Section 188 by providing the mode of compounding. However, it did not contain any provision declaring what offences were compoundable. The decision as to what offences were compoundable was governed by reference to the exception to Section 214 of the Indian Penal Code. The subsequent Code of 1898 provided Section 345 indicating the offences which were compoundable but the said Section was only made applicable to compounding of offences defined and permissible under Indian Penal code. The present Code, which repealed the 1898 Code, contains Section 320 containing comprehensive provisions for compounding. A perusal of Section 320 makes it clear that the provisions contained in Section 320 and the various sub - sections is a Code by itself relating to compounding of offence. It provides for the various parameters and procedures and guidelines in the matter of compounding. If this Court upholds the contention of the appellant that as a result of incorporation of Section 147 in the N.I. Act, the entire gamut of procedure of Section 320 of the Code are made inapplicable to compounding of an offence under the N.I. Act, in that case the compounding of offence under N.I. Act will be left totally unguided or uncontrolled. Such an interpretation apart from being an absurd or unreasonable one will also be contrary to the provisions of Section 4(2) of the Code, which has been discussed above. There is no other statutory procedure for compounding of offence under N.I. Act. Therefore, Section 147 of the N.I. Act must be reasonably construed to mean that as a result of the said Section the offences under N.I. Act are made compoundable, but the main principle of such compounding, namely, the consent of the person aggrieved or the person injured or the complainant cannot be wished away nor can the same be substituted by virtue of Section 147 of N.I. Act. For the reasons aforesaid, this Court is unable to accept the contentions that as a result of sanction of a scheme under Section 391 of the Companies Act there is an automatic compounding of offences under Section 138 of the N.I. Act even without the consent of the complainant. LW(S) 3.02.2012 NTPC LIMITED v. ANSALDO CALDAIE BOILERS INDIA P. LTD. ANR [SC] Appeal No.2134 Of 2012 (Arising out of SLP(C) No.7807 of 2011) Altamas Kabir J. Chelameswar, JJ. [Decided on 16/02/2012] Interpretation of contracts - International competitive biddings - Installation steam generator - Bid conditions - Rejection of bid - Bidder JV Company is not the manufacturer of evaporator - Bid rejected - Whether correct - Held,Yes. Brieffacts:Followinginternationalcompetitivebiddingprocedures, the Appellant had invited bids for the supply and installation of Steam
- 19. 17 Legal World Student Company Secretary January - February 2012 Generator package for captive coal - based Thermal Power Projects in different areas. The bid of the Respondent No.1 was rejected by the Appellant by its letter dated 5th January, 2011, as the same did not meet the minimum qualifying requirements set out in the Bid documents. Furthermore, the Qualified Steam Generator Manufacturer, Ansaldo Caldaie, Italy, proposed by the said Respondent, did not have the necessary minimum qualification, as was required in terms of the Bid documents. Respondent No.1 appealed to the High Court which set aside the rejection against which the appellant had approached the Supreme Court. Decision: Appeal allowed. Reason: The main issue which arises for consideration in this Appeal is whether Ansaldo Caldaie, Italy, can be said to be a Qualified Steam Generator Manufacturer within the definition set out in the detailed Invitation for Bids. The controversy which led to the rejection of the Technical Bid of the Respondent No.1 was with regard to the question as to whether in the case of a Joint Venture Undertaking it was essential that the Qualified Steam Generator Manufacturer also had to be the manufacturer of the evaporator or whether it could function as a facilitator. Furthermore, what appears to have weighed with the Appellant in rejecting the Technical Bid of the Respondent No.1 was that the Steam Generator had been designed for constant pressure and not variable pressure, as required by the Appellant.Admittedly, the evaporator is an integral part of the Steam Generator. The question is whether the same could not be manufactured by a third party and supplied to the Qualified Steam Generator Manufacturer for use in the boiler. From the terms and conditions contained in the MOU, it appears to us that it was the intention of the Appellant that the Qualified Steam Generator Manufacturer would have to be the manufacturer of the evaporator itself and could not have outsourced the manufacture thereof to a third party, since the evaporator controlling the pressure of the Steam generated is a vital and crucial component of the Steam Generator itself. The Appellant, which will be the ultimate user of the Generator, must be presumed to be conscious of the competence of the tenderer to provide the evaporator in keeping with the required specifications. In the aforesaid context, we are unable to uphold the decision of the Division Bench of the Delhi High Court. The High Court while interpreting the provisions of the Tender Documents was influenced by the use of the phrase manufactured/got manufactured while considering the fact that although, Ansaldo Caldaie, Italy, was being projected as the Qualified Steam Generator Manufacturer, Siemens A.G. was shown as the technology owner/licensor of the evaporator which was offered by the Respondent No.1. In other words, the evaporator being offered by the Respondent No.1 was one which had been manufactured not by the Qualified Steam Generator Manufacturer, but by a third party, which was not contemplated in the aforesaid condition of the Tender Documents. Theimportanceoftheaboveconditionismanifestedinthefunctioning of the Steam Generator which handles High Pressure Steam for the purpose of turning the turbines for generating electricity. The design and engineering of the evaporator and the boiler itself has to be such as to withstand the very high temperatures and pressures generated. The importance of the variable pressure operations is of great importance as far as generation and wastage of energy is concerned. The importance of the evaporator in controlling pressure during operations is to automatically regulate the flow of water, generation of pressure and temperature of the steam to the desired level.
- 20. 19 Student Services Student Company Secretary January - February 2012 STUDENT SERVICES REGISTRATION AND POSTAL TUITION 1. Cancellation of Registration Registration of students registered upto and including February 2007 stands terminated on expiry of five-year period on 31st January 2012. Similarly, registration of students registered upto and including March 2007 stands terminated on expiry of five-year period on 29th February 2012 leading to the following immediate consequences :. (a) Supply of ‘Student Company Secretary’ bulletin will be discontinued from January 2012 February 2012 issues onwards respectively. (b) Response sheets will not be accepted even if submitted and coaching completion certificates will not be issued (after the expiry of registration period) They are advised to apply for registration de-novo/ extension of registration as per the guidelines published in this bulletin. Important: Students whose registration is valid up to February 2012 ( i.e. students registered in March 2007 ) are, however, eligible to appear in June 2012 examination without seeking extension of registration/ registration de-novo subject to fulfilling other requirements as laid down in the regulations. 2. Change of Address Change of address, if any, should be intimated to the Institute by sending a separate letter in this regard. While intimating the change in their mailing address, the students are advised to invariably quote the PIN CODE number alongwith the student registration number, name and full postal address with city, state in capital letters. Students can also update their addresses instantly through online services at students’ portal www.icsi.in. PIN CODE is required to be mentioned for quick delivery of the mail. Students may, therefore, check up the computerised mailing address as printed on the ‘Student Company Secretary’ bulletin. In case, it does not carry or carry the wrong PIN CODE number, the same may be intimated immediately quoting student registration number and full postal address with Postal Index Number so that it could be incorporated in the computerised mailing list. 3. E-Mail Address of the Students Those students who are having e-mail address may communicate the same to the Student Services Section at dss@icsi.edu, which will facilitate quick and economic communication from the Institute’s side. The e-mail address may be sent in the following format. Name : Registration No. : E-Mail Address : Students can also update their e-mail ID/ Mobile Number instantly through online services at students’ portal www.icsi.in 4. Students Identity Card All the students appearing in the examination must hold Identity Card in the manner prescribed by the Institute, if not already obtained at the time of seeking registration. For obtaining the Identity Card, students are advised to obtain a proforma from the Headquarters/ Regional Offices of the Institute and send it again to the Institute duly filled up and attested as per instructions given in the prospectus/ registration letter. Students who have so far not obtained Identity Cards are advised to write to the Institute immediately. The students should carry their Identity Cards without fail for appearing in the Institute’s examination. If the Identity Card already issued has been lost or mutilated, student should send a request for obtaining duplicate Identity Card together with the mutilated Identity Card/Identity Card proforma duly filled in and attested together with Rs. 50/- towards duplicate Identity Card fee. Students can also take printout of the online Student Identity Card through online services at students’ portal www.icsi.in 5. Compulsory Enrolment for Professional Programme. Students who have passed/completed both modules of Executive examination are advised to seek compulsory enrolment for undergoing coaching for the Professional Programme on payment of Rs. 7500/- towards postal tuition fee as per criteria given below: i) Students registered for the Professional Programme between 01st June 2011 to 31st August 2011 are eligible to appear in all the modules of the Professional Programme Examination to be held in June 2012 and those registered between 01st December 2011 to 28th February 2012 are eligible to appear in all the modules of the Professional Programme Examination to be held in December 2012 subject to satisfactory completion of compulsory coaching. ii) However, students registered for the Professional Programme between 01st September 2011 to 30th November 2011 are eligible to appear in any two module (s) of the Professional Programme Examination to be held in June 2012 and those registered between 01st March 2012 to 31st May 2012 eligible to appear in any two module (s) of the Professional Programme Examination to be held in December 2012 subject to satisfactory completion of compulsory coaching. 6. Uniformity in Signatures It has been observed that some of the enrollment applications / letters received from the students are either unsigned or bear different signatures from time to time. All the students are, therefore, advised to maintain uniformity in their signatures on all the correspondence with the Institute including students identity card, enrollment application and attendance sheet provided in the examination hall at the time of writing examinations. 7. Clarification Regarding Paperwise Exemption (a) The paperwise exemption is granted only on the basis of specific request received in writing from a registered student along with the attested photocopies of marks sheets for all parts of the Degree/examination (on the basis of which the paperwise exemption is sought) and the exemption fee @ Rs. 100/- per paper. It is one time payment and not to be remitted for availing of paper wise exemption in every session of examination during the validity of registration period. (b) The application for claiming paperwise exemption must reach the Institute on or before the last date for submission of enrolment application i.e. 25th March and 25th September for June and December examinations respectively and with a late fee of Rs. 100/-, the application can be accepted upto 9th April and 10th October respectively. (c) The paperwise exemption once granted holds good during the validity of registration period or passing/completing the examination, whichever is earlier. d) The paperwise exemption is cancelled only on receipt of a specific request in writing from the student concerned on or before the last date for submission of the enrolment application. If any candidate appears in the exempted paper(s) of examination without receiving the written confirmation from the Institute, but by making personal representation, appeal, request, etc., at the Examination Centre at the last moment, his/her appearance in such paper(s) shall automatically be treated as cancelled. (e) It may be noted that candidates who apply for grant of paper wise exemption or seek cancellation of paper wise exemption already granted, before the last date of submission of enrolment applications for a particular examination, must see and ensure
- 21. 20 Student Services Student Company Secretary January - February 2012 that they receive written confirmation from the Institute at least 15-20 days prior to the commencement of the examination. Candidates who would presume automatic grant or cancellation of paper wise exemption without obtaining written confirmation on time and absent themselves in any paper(s) of examination and/or appear in the exempted paper(s) would do so at their own risk and responsibility and the matter will be dealt with as per the above guidelines. (f) Exemption once cancelled on request in writing shall not be granted again under any circumstances. (g) The candidates who have passed either group of the Intermediate/Final examination under the old syllabus, may claim the paperwise exemption in the corresponding subject(s) of new syllabus indicating the basis of exemption as “APO” in the appropriate column of the enrolment application. (h) In case the paperwise exemption has already been granted on the basis of qualification or the candidates is eligible for grant of exemption on the basis of securing 60% or more marks, a photocopy of the letter/marks-sheet issued by the Institute should be enclosed with the enrolment application while claiming such exemption, failing which the same may not be granted for the ensuing examination. (i) No exemption fee is payable for availing paperwise exemption on the basis of “APO” or on the basis of securing 60% or more marks in the Institute’s examination. (j) Paperwise exemption fee is payable only when the exemption is to be availed on the basis of qualification(s) specified for the purpose. 8. Student Induction Programme (SIP) Every candidate registered for the Executive Programme w.e.f. 01.09.2009 are required to undergo seven days Student Induction Programme (SIP) within 6 months of registration. 9. Compulsory Computer Training In terms of Company Secretaries Regulation, 1982 (as amended) all student are required to successfully undergo a compulsory Computer Training Programme for becoming eligible to seek enrolment to appear in CS Executive Programme examinations. The Institute, in compliance of the above said requirements, has tie up with M/s APTECH Limited on providing Computer Training to the Students of the Institute at subsidized rates; through which 70 hours of computer training shall be provided to the students/members of the institute in all centre of APTECH all over the country. To undergo this course, a student/member has to approach any APTECH centre recognized for ICSI-APTECH course, a student/member has to deposit the requisite fees and fulfill the formalities as per the requirements of M/s APTECH. The list of APTECH centers including detailed course contents, module details and topic-wise time duration etc. can be had through the option Students – ICSI APTECH Course on the Institutes website i.e. www.icsi.edu / www.icsi.in 10. Exemption from Computer Training A student shall be exempted from undergoing the course on the basis of he/she fulfill the following criteria: 1. He/She has the requisite knowledge of the areas/topics covered in the computer training and 2. He/She enrolls himself/ herself for an online exemption test (to be conducted by SISY Softwares Ltd ) at any of the SIFY Center on all India basis and successfully clears the test. In case of any specific problem/complaint regarding registration, post-registration, students services and postal/oral coaching, students may contact personally or write to Mr SOHAN LAL, Director and for academic guidance and suggestions, if any, students may write to Dr S K Dixit, Director at the Institute’s address. ATTENTION STUDENTS! ICSI STUDENTS EDUCATION FUND TRUST With a view to encourage and motivate economically backward and academically bright students to pursue the Company Secretaryship Course, the Institute has created a Trust viz. ICSI Students Education Fund Trust. STAGE CATEGORIES OF STUDENTS / ELIGIBILITY CRITERIA For Students with Family Income upto Rs. 1,00,000 per annum For Academically Bright Students without any limit on their Family Income Foundation Programme 75% Marks In both Matriculation Senior Secondary Stages 90% Marks in both Matriculation Senior Secondary Stages Executive Programme 75% Marks in both Matriculation Senior Secondary Stages and 60% Marks In Bachelor's Degree Stage 90% Marks in both Matriculation Senior Secondary Stages and 85% Marks in Bachelor's Degree Stage NATURE AND EXTENT OF FINANCIAL ASSISTANCE Eligible students shall be fully exempted from paying the Registration/Admission Fee, Postal Tuition Fee, Exemption Fee and other fees usually payable at the time of admission to Foundation/ Executive Programmes. Depending upon their performance in the CS Examinations, the students may also be exempted from payment of Examination Fee and also the fees payable at the time of admission to Executive Programme and Professional Programme (for students admitted to Foundation Programme) and Professional Programme (for students admitted to Executive Programme). For detailed guidelines, application form, etc. please visit www. icsi.edu Students desirous of availing tha financial assistance may submit their application in the prescribed format along with all supporting documents to Director (Student Services), The Institute of Company Secretaries of India, C-37, Sector - 62, Nolda - 201 309. ATTENTION STUDENTS ! Grant of Total Exemption in Undergoing Compulsory Computer Training Program to Physically Handicapped Students The Institute has decided to grant total exemption in undergoing the compulsory Computer Training Program to the students belonging to the following based handicapped categories on scrutinizing and conducting assessment/evaluation of the documents submitted in this regard. 1. Physically Handicapped Students : - permanent physical disability of more than 50% in one limb; or - permanent physical disability of more than 60% in two or more limbs. 2. Visually Disabled Students : - 6/60 to 1/60 or field of vision 110-2; - 3/60 to 1/60 or field of vision 100; - FC at 1 foot to Nil or field of vision 100; - Total absence of sight. The above said categories shall be regarded as permanent physical/visual disability in order to be eligible for concessions/ benefits in granting total exemption from undergoing the Compulsory Computer Training Program. For availing the aforesaid benefit, such applicants/students will be required to submit a certificate issued by the Medical Superintendent of a State/ Central Government Hospital to this effect. For further details please visit Institute's website : www.icsi.edu
- 22. 21 Student Services Student Company Secretary January - February 2012 EXAMINATION 1. DECLARATION OF DECEMBER, 2011 EXAMINATION RESULTS The result of Foundation Programme, Executive Programme and Professional Programme examinations held in December, 2011 is scheduled to be declared at 11.00 A.M. on 25th February, 2012. The results alongwith individual candidate’s subjectwise break-up of marks will be available on Institute’s website: www.icsi.edu on 25th February, 2012 after 11.00 A.M. onwards. 2. ISSUING OF MARKS-SHEETS. In accordance with the decision taken by the Institute, the despatch of Result-cum-Marks-Statements for Foundation Programme and Executive Programme examinations in physical form has been discontinued from June, 2011 session onwards. The details of marks will be available immediately after the declaration of results on the Institute’s website. Formal E-Result-cum-Marks Statements will be uploaded on the student portal www.icsi.in which may be downloaded by the students for reference and records. However, the Result-cum- Marks-Statement of Professional Programme will continue to be issued in physical form. 3. VERIFICATION OF MARKS In terms of regulation 46 (2) of The Company Secretaries Regulations, 1982, as in force, a candidate can seek ‘Verification of Marks’ in any subject(s) of December, 2011 examination within one month from the date of declaration of results. The application for verification of marks should be made by interested candidates on a plain paper, in candidate’s own handwriting together with requisite fee @ Rs.100/- per subject within one month from the date of declaration of results, i.e., upto and including 26th March, 2012 (25th March, 2012 being Sunday). The application for seeking verification of marks should invariably include — (i) Name; (ii) Roll Number; (iii) Registration Number; (iv) Stage and Module of examination; (v) Subject(s) in which verification of marks sought; (vi) Amount of fee paid @ Rs.100/- per subject by way of demand draft favouring ‘The Institute of Company Secretaries of India’, payable at New Delhi; (vii) Demand Draft Number, Date, Amount and Drawee’s Bank; and (viii) Complete postal address of candidates with Phone/Mobile Number(s) and e-mail id(s). (Application form will be also be available on Institute’s website: www. icsi.edu). The application for verification of marks duly completed in all respects should reach on or before the last date, i.e., 26th March, 2012 (25th March being Sunday) addressed to The Joint Director (Exams.), The Institute of Company Secretaries of India, C-37, Institutional Area, Sector 62, NOIDA – 201309 (U.P.). Candidates are advised not to club any other query/matter or remittance of fees along with his/her request for Verification of Marks to facilitate an early reply. The response time to candidates’ requests for verification of marks is normally 3-4 weeks from the date of receipt of their applications in the Examination Deptt. of the Institute. After completion of verification process, outcome of the verification of marks is hosted on the Institute’s website: www.icsi.edu and the candidate concerned by entering his/ her Roll No. or Student Registration Number can enquire about the status/outcome of his/her application. The candidates concerned are also individually informed about the outcome of their requests by post. However, if a candidate does not receive any communication by 10th May, 2012, he/she should write to the Joint Director (Exams.) giving relevant details – (i) his/her name; (ii) student registration number and Roll Number; (iii) stage of examination and module; (iv) name of the subject(s) in which verification of marks was sought; (v) date of application and mode of its dispatch; (vi) amount of verification fee and mode of its remittance, viz., Bank Draft No., date of issue of Bank Draft, Name of drawee bank; (vii) complete postal address along with PIN Code; (viii) e-mail id; and (ix) Mobile/ Telephone Number. 4. JUNE, 2012 EXAMINATIONS The next Foundation Programme, Executive Programme and Professional Programme Examinations will be held from Saturday, the 2nd June 2012 to Saturday, the 9th June, 2012 as per the Time- Table and Programme published on last inside cover page of this issue at 79 examination centres, viz., 1. Agra, 2. Ahmedabad, 3. Ajmer, 4. Allahabad, 5. Ambala, 6. Aurangabad, 7. Bangalore, 8. Bareilly, 9. Bhilwara, 10. Bhopal, 11. Bhubaneswar, 12, Bikaner, 13, Calicut, 14. Chandigarh, 15. Chennai (West), 16. Chennai (South), 17. Coimbatore, 18. Dehradun, 19. Delhi (East), 20. Delhi (North), 21. Delhi (South), 22. Delhi (West), 23. Dhanbad 24. Ernakulam, 25. Faridabad, 26. Ghaziabad, 27. Gurgaon, 28. Guwahati, 29. Hubli-Dharwad 30. Hyderabad, 31. Indore, 32. Jabalpur, 33. Jaipur, 34. Jammu, 35. Jamshedpur, 36. Jodhpur, 37. Kanpur, 38. Kolhapur, 39. Kolkata (North), 40. Kolkata (South), 41. Kota 42 Kottayam 43. Lucknow, 44. Ludhiana, 45. Madurai, 46. Mangalore, 47. Meerut, 48. Mumbai (CG), 49. Mumbai (GTK), 50. Mumbai (JOG), 51. Mysore, 52. Nagpur, 53. Nasik, 54. Navi Mumbai 55. Noida, 56. Panaji, 57. Patna, 58. Puducherry, 59. Pune, 60. Raipur, 61. Rajkot, 62. Ranchi, 63. Salem, 64. Shimla, 65, Siliguri 66. Sonepat 67. Srinagar 68. Surat, 69. Thane, 70. Thiruvananthapuram, 71. Thrissur, 72. Tiruchirapalli, 73. Udaipur, 74. Vadodara, 75. Varanasi, 76. Vijayawada, 77. Visakhapatnam, 78. Yamuna Nagar (Haryana) and 79. Overseas Centre — at Dubai. The last date for receipt of enrolment application for June, 2012 examinations in the Institute together with the requisite examination fee is 26th March, 2012 (25th March, 2012 being Sunday) and with late fee of Rs.100/- upto 9th April, 2012. NOTE: 1. The Institute reserves the right to withdraw any centre at any stage without assigning any reason. 2. Candidates should note that non-receipt/delayed receipt of result-cum-marks statement, response to result queries, requests for verification of marks, etc., will not be accepted as valid and sufficient reason for seeking any relaxation or not complying with the requirements of regulations and/or last dates for submission of enrolment applications for the next examinations. Therefore, the candidates in their own interest are timely advised to keep track of important announcements, last dates and observe the time schedule. 3. Please note that no request for change of examination venue will be entertained in respect of a particular city, where multiple- examination venues exist. 5. HINDI AS OPTIONAL MEDIUM FOR WRITING THE EXAMINATIONS Candidates are allowed to use Hindi as an optional medium for writing all papers of the Foundation Programme (except the ‘English and Business Communication’ paper), Executive Programme and Professional Programme examinations on the following conditions: (i) option of Hindi Medium for writing the examination is to be exercised for all papers of an examination OR a particular module of examination, (and not for any individual paper(s)) in the examination enrolment application form each time for appearing in the examination; (ii) option of medium for writing examination once exercised is irrevocable for that particular session of examination; (iii) answer books of candidates who write part of papers/answers in one medium and the remaining part in other medium are liable to be cancelled without any notice; (iv) candidates who have exercised option of writing Hindi Medium in their examination enrolment form will be provided Question Papers printed both in English and Hindi version for Foundation Programme (except ‘English and Business Communication’ paper) and Module-I of Executive Programme Examinations. The Question Papers for Module-II of Executive Programme, and all papers of Professional Programme examinations will be printed in English version only; (v) if a candidate writes his/her answers in Hindi medium without exercisingsuchanoptionintheexaminationenrolmentapplication form, he/she may not be given credit for his/her answers; (vi) candidates opting Hindi Medium for the examination must darken relevant circle against HINDI on the cover page of Answer Book; and (vii) candidates opting Hindi Medium for examination may write answers to practical questions, headings, quotations, technical and legal terms, sections, rules, etc., in English, if they so desire.
- 23. 22 Academic Guidance Student Company Secretary January - February 2012 IMPORTANT ANNOUNCEMENT GRANT OF FACILITY OF WRITER’S HELP/EXTRA TIME TO PHYSICALLY DISABLED CANDIDATES IN CS JUNE, 2012 EXAM. Any physically disabled student having a minimum of 40% physical disability or deformity of permanent nature and who wishes to seek writer’s help and/or extra time for the purpose of appearing or writing Company Secretaries June, 2012 examination should make a separate written request therefor mentioning complete details about his/her Name, Student Registration No., Complete Postal Address, Mobile Number, E-mail id, specifying nature and extent (in % term) of his/her permanent disability, etc., to the Joint Director (Exams.), The Institute of Company Secretaries of India, C-37, Institutional Area, Sector 62, NOIDA – 201309 (U.P.) in addition to submitting his/her enrolment application for appearing in the examination together with the following supporting documents : (i) Disability Certificate issued by the Medical Board/Head of Deptt. or Sr. Medical Officer (Specialists) of a Central or State Govt. Hospital certifying the nature (permanent or temporary) and percentage of disability, and its duration affecting his/her writing ability and/or the normal physical functions; and (ii) Letter of Permission issued to him/her by Sr. Secondary Board/University and/or any other professional/educational examining body, such as – University, UPSC, SSC, State Public Service Commission, ICAI, ICWAI, etc., granting him/her such assistance for appearing or writing the examinations. Please note that even the physically disabled students, who had earlier been granted facility of Writer’s Help/Extra Time in the previous examination and wish to avail of such concession or assistance for writing the ensuing June, 2012 examinations are required to apply afresh giving reference of such facility granted in the past and making a separate application to The Joint Director (Exams.), The Institute of Company Secretaries of India, C-37, Institutional Area, Sector 62, NOIDA – 201309 (U.P.) before the last date for submission of enrolment application for June, 2012 examination. The application for grant of Writer’s Help/Extra Time should not be clubbed with any other query or correspondence. It is clarified that in case of disablement of temporary nature and injuries like, fracture in the arm, forearm or dislocation of a shoulder, elbow, wrist or any other illness, etc., the candidates are not eligible to seek any concession or assistance of writer/ extra time. Intimation about grant of Writer’s Help/Extra Time is normally sent 15-20 days before the commencement of each examination. ATTENTION STUDENTS APPEARED IN DECEMBER, 2011 EXAMINATIONS The Institute awards “Merit Scholarships” and “Merit-cum- Means Assistance” to students for pursuing Executive Programme and Professional Programme on the basis of their meritorious performance in the examinations and on merit-cum-need basis on their passing Foundation Programme and Executive Programme examinations respectively, as per the criteria stipulated under the “Merit Scholarship (Company Secretaryship Course) Scheme, 1983” and “Merit-cum-MeansAssistance (Company Secretaryship Course Scheme), 1983”. MERIT SCHOLARSHIP In pursuance of para 7 of the “Merit Scholarships (Company Secretaryship Course) Scheme, 1983, 25 numbers of scholarships are awarded each for Executive Programme and Professional Programme examinations per session only to registered students, purely in order of merit, from amongst the candidates who appeared and passed in all the subjects of their respective examination, at first attempt, in one sitting, without claiming exemption in any subject, on all-India basis and subject to fulfilling other terms and conditions as stipulated in the said scheme. Accordingly, students who pass the Foundation Programme examination in December, 2011 should get themselves registered with the Institute for the Executive Programme within 3 months from the date of declaration of results to become eligible for award of Scholarship. MERIT-CUM-MEANS ASSISTANCE In pursuance of para 8 of the “Merit-cum-Means Assistance (Company Secretaryship Course) Scheme, 1983”, 25 numbers of financial assistance are awarded each for Executive Programme and Professional Programme examinations per session only to registered students. According to the scheme, a candidate has to apply in the prescribed form which can be downloaded from Institute’s website: www.icsi.edu OR obtained from the Institute free of cost by sending a self addressed stamped envelope, and submit his/her application within a specified date as notified from time to time. Any candidate applying for financial assistance should have passed the Foundation Programme/Both the Modules of Executive Programme Examination, at first attempt, in one sitting, without claiming exemption in any subject. If the candidate is employed or having an independent source of income, in that case his/her income should not be more than Rs.1,50,000/- per annum and if he/she is dependent on his/her parents/guardian/ spouse, then the combined income from all sources should not be more than Rs.2,50,000/- per annum and also subject to fulfilling other terms and conditions as stipulated in the said scheme. Students who pass the Foundation Programme examination in December, 2011 must get themselves registered with the Institute for the Executive Programme within 3 months from the date of declaration of results to become eligible for award of this financial assistance. A separate notification inviting applications for award of “Merit- cum-Means Assistance” is being published elsewhere in this issue. CHANGE IN FREQUENCY OF DESPATCH OF STUDENT COMPANY SECRETARY BULLETIN The Council of the Institute keeping in view the changing times, has decided that the Student Company Secretary Bulletin (in physical form) will be sent to the students on bi-monthly basis (once in two months), instead of on monthly basis, w.e.f. January 2011. However, the academic inputs as is being covered in the Student Company Secretary Bulletin will be uploaded on the website of the Institute, viz., www.icsi.edu and the same will also be sent through e-mail on monthly basis. With this arrangement, it is expected that the students will get updated contents promptly with the latest academic developments. All students are advised to take a note of it. Attention Students In accordance with the Guidelines for Apprenticeship Training by Company Secretaries, 1985, the Company Secretaries in Practice imparting training to the students are required to pay a minimum stipend of Rs.500/- per month. The Training Educational Facilities Committee of the Council in its 94th Meeting held on 4th November, 2009, has increased the minimum stipend from Rs. 500/- (Rupees five hundred only) to Rs. 2000/- (Rupees two thousand only) per month.
- 24. 23 Student Services Student Company Secretary January - February 2012 GUIDELILNES, RULES AND PROCEDURES FOR SUPPLY OF CERTIFIED COPY(IES) OF ANSWER BOOKS TO STUDENTS 1. A student who wishes to obtain certified copies of his/her answer books of any subject(s) of a particular examination shall apply on the prescribed application form together with (a) requisite fee; and (b) self-attested photocopy of his/her Admit Card (Roll No.) or Student Identity Card so as to reach the Institute within 45 days from the date of declaration of the result. 2. The fee for supply of certified copy(ies) of answer book shall be Rs.100/- per subject(s)/answer book(s). The fee shall be paid through Demand Draft drawn in favour of “The Institute of Company Secretaries of India”, payable at New Delhi. 3. The envelope containing student’s Application Form, duly completed in all respect, together with the requisite fee and photocopies of the supporting documents, as mentioned in para 1 above, shall be superscribed “Application for Supply of Certified Copies of Answer Books” and sent to: The Joint Director (Exams.) The Institute of Company Secretaries of India C-37, Institutional Area, Sector 62 NOIDA – 201 309. 4. Application Form without requisite fee and supporting documents and complete particulars, as indicated above, shall not be entertained. 5. Before supplying certified copy(ies) of answer books, to a student on his/her request, if it is noticed that any sub- question/question of his/her answer book has inadvertently remained unevaluated or there is some posting or totaling error, the Institute would rectify such a omission and commission and communicate the revised/marks/result to the student. However, it may be noted that re-valuation of answers is not permissible under Regulation 46(2). 6. The certified copies of the answer books supplied to the student shall be for his/her exclusive personal reference and guidance. 7. On receipt of certified copies of the answer books, the applicant student shall be the sole custodian of it and he/she shall not part with the custody/possession of the same and shall not use the same for any other purpose(s). 8. If any error is discovered at any point of time as provided in para 5 above, the Institute shall have suo moto power to rectify the same. FOR EXECUTIVE PROGRAMME Sl. No. Name of the student Registration No. 1. ADITYA ASHOK DAKH 421018230/08/2011 2. YASH DABRIWAL 120528221/08/2011 3. SWAPNA SARAH KURUVILA 320723491/08/2011 4. KRITIKA SONI 221180956/08/2011 5. KANIKA ARORA 221250584/08/2011 6. SADIYA BAIG 421054006/08/2011 7. RAJ DHANPATRAJ MEHTA 421076031/08/2011 8. SHREYANCE MODI 221182615/08/2011 9. ISHITA KHORASIA 120542508/08/2011 10. SNEHA JAIN 120546371/08/2011 11. PRASHANT SURESH SHANBHAG 320743507/08/2011 12. AKANKSHA SINGHAL 421054377/08/2011 13. KRITIKA JAIN 120544484/08/2011 14. MAHIMA ARORA 221245204/08/2011 15. PRACHI NIRMALCHANDRA VASAVADA 421064115/08/2011 16. AJAY AGARWAL 120525661/08/2011 17. SONA BATRA 221256277/08/2011 18. YOGESH KATARIYA 221189421/08/2011 19. NUPUR BISHNOI 221230101/08/2011 20. JANANI V 320729586/08/2011 21. ANKUSH RAJENDRA PALIWAL 421059701/08/2011 22. SAKSHI MEHRA 120563218/08/2011 23. ANKIT KUMAR JAKHOTIYA 221212545/08/2011 24. PINKI GARG 120545806/08/2011 25. SHUBHAM AGARWAL 120541713/08/2011 26. NEHA GARG 221207132/08/2011 FOR PROFESSIONAL PROGRAMME Sl. No. Name of the student Registration No. 1. ANKUSH BINDAL 220936187/08/2010 2. ANJALI AGARWAL 220963089/08/2010 3. NAMAN GUPTA 220908544/08/2010 4. SONALI AGGARWAL 220935982/08/2010 5. SHIVANGI LATH 120436011/08/2010 6. AVIGAT RAVINDRA GANERIWALA 420795668/08/2010 7. PARVEEN BANSAL 220987565/08/2010 8. RACHITA MANOJ ARYA 420617911/03/2009 9. RUKMA SARVANYA ANNAMRAJU 320626806/08/2010 10. VARUN GUPTA 220942974/08/2010 11. PRIYESH JAIN 220872018/05/2010 12. R SUNDAR 320606454/08/2010 13. KALA KRISHNAN 420663110/08/2009 14. APARAJITA AGARWAL 120421225/08/2010 15. RAJEEV KUMAR OJHA 120407927/06/2010 16. SRISHTI BAJPAI 220923147/08/2010 17. ASTHA JAIN 220891558/08/2010 NOTIFICATION ICSI/CS/ 02 / 2012 In pursuance of para 11 of the Merit Scholarship (Company Secretaryship Course) Scheme 1983, the following students have been awarded `Merit Scholarships' for the Executive Programme and Professional Programme examinations on the basis of their meritorious performance in the Foundation Programme and Executive Programme Examinations of ‘company secretaryship' held in June, 2011: 18. RAVI JAIN 220959294/08/2010 19. RAVI MAHESHWARI 220948423/08/2010 20. ANKITA AGARWAL 120371660/02/2010 21. BHAWNA NEWAR 120370058/02/2010 22. YOGESH LOHIYA 220999986/08/2010 23. SONAM TANEJA 220945130/08/2010 24. TEJASHREE ABHAY TADWALKAR 420832581/08/2010 25. DIVYESH VIJAY 220981437/08/2010 BY ORDER OF THE COUNCIL (CS N K JAIN ) (SECRETARY CEO) File No.205:Exams:J/2011 Dated the 30th January, 2012 NEW DELHI - 110 003.
- 25. 24 Student Services Student Company Secretary January - February 2012 APPLICATION FORM FOR SUPPLY OF CERTIFIED COPY(IES) OF ANSWER BOOKS (Before filling-up this form, please go through the Guidelines, Rules and Procedures) The Joint Director (Exams.) The Institute of Company Secretaries of India C – 37, Sector 62 Institutional Area NOIDA – 201 309. Dear Sir, I, the undersigned, request you to supply me the certified copy(ies) of my answer books as per details given below : 1. Name of Student 2. Student Regn. No. 3. Complete Correspondence Address PIN CODE: 4. E-mail id 5. Details about appearance in the subjects of examination for which copy(ies) of answer books is/are requested Stage Session of Exam. Roll No. Name of the Subject(s) Marks Obtained 6. Details of fee remitted [(Application Fee @ `100/- per subject(s) / answer book(s)] Demand Draft No. Date Name of the Issuing Bank Amount (`) I have read the guidelines, rules and procedures and the same are acceptable to me. I hereby undertake that I am a bonafide student of the Institute and the copy(ies) of answer book(s) applied for belong to me. For this purpose, I am enclosing self-attested photocopy of my Admit Card (Roll No.)/Student Identity Card issued to me by the Institute. In case, any particular or statement is found to be false, the Institute may take appropriate action against me, as deemed fit. Yours faithfully, _____________ (Signature) Place: _________ Name: _________________ Date: __________ RECORD RETENTION SCHEDULE FOR THE DIRECTORATE OF EXAMINATION ICSI Sl No. Description of Record Main Head/ Sub-Head Record Retention Period 1. Answer Books of Company Secretaries Examinations on which applications for verification of marks under Reg.46(2) of the Company Secretaries Regulations, 1982, have not been received by the Institute within one month of the declaration of results of respective examination. Upto 45 days of declaration of results of each examination concerned. 2. Answer Books of examinations verified on candidates’ requests under the Regulation 46(2) of the CSR, 1982. Upto 3 months from the date of declaration of the result of verification of marks to the candidates concerned. 3. Answer books of examinees on which some action/dispute is pending or such answer books which are required for any enquiry by any authority or court Upto 3 months from the date of completion of the action or enquiry or dispute, as the case may be. 4. Examination Sessionwise Results Registers To be maintained in bound Registers in physical form for 5 years; and in digitized form for 20 years from the date of declaration of results. 5. Statements of Payments made to Moderators, Paper Setter-cum- Examiners, Additional Examiners, Translators, etc. approved by the competent authority. 8 Financial Years. 6 Attendance Sheets of candidates registered for/appeared in the examinations 1 Year or 2 Examination Sessions. 7. Subjectwise individual Examiners Marks-Sheets 1 Year or 2 Examination Sessions. 8. Examination sessionwise address list of Moderators, Paper Setters, Additional Examiners, Hindi Translators, etc. 1 Year or 2 Examination Sessions. 9. Correspondence with Moderators, Paper Setter-cum-Examiners, Additional Examiners, Hindi Translators, etc. 1 year.
- 26. 25 Student Services Student Company Secretary January - February 2012 LIST OF COMPANIES REGISTERED FOR IMPARTING TRAINING DURING THE MONTH OF DECEMBER 2011 Region Training Period Stipend (Rs.) Eastern GAR Consultants Limited 15 Months Training Suitable 9, Mangoe Lane Room No. -1,Kolkata – 700001 E-mail : gar.consultants@gmail.com Forgings (India) Iron Steel Ltd. 15 Months Training 3500 P.O. Box - 2901 Kolkata-700001 E-mail : sales@forgingsworld.com Andal East Coal Company Pvt. Ltd. 15 Months Training 4000 8/2, Dr. U.N. BramhachariSarani (Loudon Street), 4th Floor, Flat 4C, Kolkata-700017 E-mail : mukesh.andaleastcoal@gmail.com Silicon Valley Infotech Ltd. 15 3 Months Training Suitable 10, Princep Street, 2nd floor, Kolkata - 700072 E-mail : info@siliconvalleyinfo.net Blue Chip India Ltd. 15 3 Months Training Suitable 10, Princep Street, 2nd floor, Kolkata – 700072 E-mail : info@bluechipindia.net JMT Auto Ltd 15 Months Training Suitable 224, A.J.C. Bose Road Krishna Building 9th Floor, Room No-902 Kolkata-700017 E-mail : jmtauto@jmtauto.com Jet Air Agencies (P)Ltd. 15 Months Training Suitable 29 B, Rabindra Sarani 3rd Floor, Room No 10 E Kolkata-700073 E-mail : jetair05@rediffmail.com Northern Bharat Seats Limited 15 3 Months Training Suitable Plot No. 1, Maruti Udyog Joint Venture Complex Gurgaon -122015 E-mail : seats@vsnl.net Haryana Power Generation 15 Months Training 4000 Corporation Limited C-7, Urja Bhawan Sector -6, Panchkula Richa Global Exports Pvt Ltd 15 3 Months Training Suitable A41, Mayapuri Industrial Area Phase I, New Delhi Tijaria Polypipes Limited 15 3 Months Training Suitable A-130 (E), Road No 9-D Vishwakarma Industrial Area Jaipur – 13(Raj.) Maverick Share Brokers Limited 15 3 Months Training Suitable 211, Laxmi Complex M.I. Road, Jaipur - 302001 E-mail : mantri@maverickgroup.in S Tel Private Limited 15 3 Months Training Suitable 1st floor, Tower B Unitech Cyberpark, Sec – 39, Gurgaon - 122001 JSEL Securities Limited 15 Months training Suitable Stock Exchange Building JLN Marg, Malviya Nagar Jaipur - 302017 E-mail : jsels@dataone.in Frontier Alloy Steels. Ltd. 15 3 Months Training Suitable KM – 25/5 6, Kalpi Road Rania, Kanpur Dehat- 209304 E-mail : frontieralloy@yahoo.co.in Southern Infosys Limited 15 Months Training Suitable Electronic City Hosur Road, Bangalore-560100 High Energy Batteries(I)Ltd. 15 Months Training 5000 Esvin House, PB No – 5068 Perungudi, Chennai-600096 E-mail : hebcnn@md4.vsnl.net.in Rajshree Sugars chemicals Ltd. 3 Months Training Suitable The Uffizi, 338 Avinashi Road Peelamedu, Coimbatore - 641004, Tamilnadu E-mail : rscl@rajshreesugars.com Infronics Systems Limited 15 Months training Suitable 2nd Floor, Ektha Towers Plot No. 2 3, White Fields, Kondapur, Hyderabad – 500084 Vaibhav Empire Pvt. Ltd. 15 3 Months Training Suitable 7A-9-21, Main Bazar, West Godavari Dist Eluru-534001 K.P.R. Fertilizers Ltd. 15 3 Months Training Suitable 8-256, Tata Nagar, Balabhadrapucam, East Godavari, Andhra Pradesh – 533343 Capital and Retail 15 Months Training Suitable Property Management India Pvt. Ltd. Level 4, Prestige Delta, 15/1, Residency Road Bangalore - 560025 Tata Projects Limited 15 Months Training 7000 Mithona Towers -1,1-7-80 to 87, Opp. Wasley Co-ed Jr. College Prenderghast Road Secundrabad-500003 E-mail : tpl@tataprojects.com Western NHDC Limited 15 3 Months Training 3500 NHDC Parisar Near Hotel Lake View Ashoka Shyamla Hills Bhopal-462013 Twilight Litaka Pharma Ltd. 15 Months Training 3500 16 A ., Himalaya Estate, Shivaji Nagar, Pune - 411005 E-Mail : legal@tlpl.co.in Total Oil India Pvt. Ltd. 15 3 Months Training Suitable 3rd Floor, The Leela Galleria Andheri Kurla Road, Andheri (E), Mumbai – 400059
- 27. 26 Student Services Student Company Secretary January - February 2012 Tata Yazaki Autocomp Limited 15 Months training Suitable Gat No. 93, Survey No.166, High Cliff Industrial Estate, Waigholi- Rahu Road, Kesnand, Pune-412207 Excel Crop Care Ltd 15 months training Suitable 13/14 Aradhana Industrial Development Corporation, Near Virwani Industrial Estate, Goregaon(East) Mumbai-400063 E-mail : ary@excelcropcare.com Tikona Digital Networks Pvt Ltd 15 3 Months Training 5000-8000 3A, IIIrd Floor, ”corpora”, L.B.S. Marg, Bhandup(West) Mumbai – 400078 E-mail : abhijaat.sinha@tikona.in Kay Bouvet Engineering Pivt. Ltd, 15 3 Months Training Suitable B-54, OlMIDC Area Satara – 415004 Maharashtra E-mail : info@kaybouvet.com NHC Foods Ltd. 15 3 Months Training Suitable NHC House, 2/13, Anand Nagar, Santa Cruz(East), Mumbai – 400055 E-mail : info@nhcgroup.com Birla ShlokaEdutech Ltd. 3 Months Training Suitable Dalamal House., Ist Floor,206 J.B. Marg, Nariman Point Mumbai – 400021 E-mail : marketing@shlokaybg.com Emmbi Polyyarns Limited 15 Months Training 5000 601-604, Hari Om Chambers, 6th Floor, Off new Link Road, Andheri(W) Mumbai – 400053 E-mail : ashwini.godbole@emmbi.com Aditya Birla Retail Limited 15 Months Training Suitable Skyline Icon, 5th Floor, 86/92, Andheri, Kurla Road Near Mittal Industrial Estate Andheri(E), Mumbai-400059 E-mail : marketing@shlokaybg.com ICICI Lombard 15 3 Months Training Suitable General Insurance Company Ltd. ICICI Lombard House, 414, Veer Savarkar Marg, Prabhadevi, Mumbai – 400025 India Infoline Asset Management 15 Months Training Suitable Company Limited IIFLCentre, 3rd Floor, Annex, Kamala City Senapati Bapat Marg, Lower Parel Mumbai - 400013 Swastika Investmart Ltd. 15 Months Training Suitable 48,Jaora Compound, MYH Road Indore-452001 E-Mail : info@swastika.co.in Kanakia Spaces Pvt. Ltd. 15 3 Months Training Suitable 215 Atrium, 10th Floor C.T.S No. 215, AndheriKurla Road Andheri(E), Mumbai – 400059 LIST OF PRACTISING MEMBERS REGISTERED FOR THE PURPOSE OF IMPARTING TRAINING DURING THE MONTH OF DECEMBER, 2011 Mr./Ms. Mamta Surange PCSA –2804 Company Secretary In Practice 301/303, Rajnigandna Green Garden Estate City Centre Gwalior Mr./Ms. Premnarayan R. Tripathi PCSA –2805 Company Secretary In Practice 201, Sarthik Square Nr Gnfcinfotower S.G. Road Ahmedabad- 380 015 Mr./Ms. Pushkar Vinayak Shukre PCSA –2806 Company Secretary In Practice 70/5, Navale Nagar Gulmohar Road, Savedi Ahemdnagar – 414 003 Mr./Ms. Nitesh Jain PCSA –2807 Company Secretary In Practice A-15, Mahavir Nagar Chopra Colony Raipur – 492 006 Mr./Ms. C. Jayashree PCSA –2808 Company Secretary In Practice 1B, Oakland Apartments 17,Malony Road, T.Nagar Chennai – 600 017 Mr./Ms. Prasanna S. Rao PCSA –2809 Company Secretary In Practice No. 2, 2nd Floor, 5th Phase, 1st Stage Near Varior Bakery W.O.C. Road, Rajaji Nagar Bangalore – 560 044 Mr./Ms. Kapil Dev Vashisth PCSA –2810 Company Secretary In Practice B-26, Part –C, 1st Floor Street No. -2, Arunapark, Shakarpur Delhi – 110 092 Mr./Ms. Suryakant Kumar PCSA –2811 Company Secretary In Practice A-149, P.C. Colony, Kankan Bagh Patna Mr./Ms. Anurag Nagar PCSA –2812 Company Secretary In Practice 82, Radhey Puri, Ext – II Delhi – 110 051 Mr./Ms. Bimlendu Kumar PCSA –2813 Company Secretary In Practice 43/2, Above to SBI Bank Sultanpalya Main Road R.T.Nagar Bangalore -560 032 Mr./Ms. Nautiyal Amrita Dinesh Chandra PCSA –2814 Company Secretary In Practice 1, Bina Shopping Centre M.V.Road Andheri East Mumbai – 400 069
- 28. 27 Student Services Student Company Secretary January - February 2012 Mr./Ms. Jaya Bhargava PCSA –2815 Company Secretary In Practice 696, Double Story, U.G.F. New Rajinder Nagar New Delhi -110 060 Mr./Ms. Suruchi More PCSA –2816 Company Secretary In Practice 13, B.B. Ganguly Street 2nd Floor, ROom No. 201 Kolkata – 700 012 Mr./Ms. Vandana Khatuwala PCSA –2817 Company Secretary In Practice 1-B, D’nello Appartment S.V.Road Behind Vijay Sales Goregaon (West)Mumbai – 400 062 Mr./Ms. Amit Dave PCSA –2818 Company Secretary In Practice 2nd Floor, Krishnatower Gopalpurabyepass, Tonk Road Jaipur – 302 018 Mr./Ms. Meenu Jain PCSA –2819 Company Secretary In Practice C-257, Vivek Vihar Delhi – 110 095 Mr./Ms. Sonia Kakani PCSA –2820 Company Secretary In Practice A-403, Shilalekh, Opp Police Stadium Shahibaug Ahmedabad – 380 004 Mr./Ms. Abhishek Jayant Jagdale PCSA –2821 Company Secretary In Practice A-12, Shivprasad Complex Anand Nagar, Sinhgad Road Pune – 411 051 Mr./Ms. Sanjay Kumar PCSA –2822 Company Secretary In Practice M- 2, M-Block Market Greater Kailash -1 New Delhi -110 048 Mr./Ms. Satya Purohit PCSA –2823 Company Secretary In Practice 25, Tamba Kanta, Kalbadevi Road Pydhonie Mumbai- 400 003 Mr./Ms. Tushar Sudhir Pahade PCSA –2824 Company Secretary In Practice Plot No -12, HilL Road Gandhi Nagar Nagpur -440 010 Mr./Ms. Anuj Jain PCSA –2825 Company Secretary In Practice 115, Bank Enclave, Laxmi Nagar Delhi-110 092 Mr./Ms. Charu Gupta PCSA –2826 Company Secretary In Practice B-58, Lohia Nagar Iind Floor Ghaziabad U.P Mr./Ms. Sandhya Suri PCSA –2827 Company Secretary In Practice Vasunand, 791/A, 6th Cross, Mahalakshmi Layoot Bangalore-560 086 ATTENTION STUDENTS! The Council of the Institute has approved the eligibility criteria for grant of exemption from undergoing Student Induction Programme (SIP). The following candidates are exempted from under going SIP: (i) Candidates having one year of working experience as assistant or any other post equivalent thereto by whatever name called or any other higher grade thereto in the field of Finance, Secretarial, Human Resource, Marketing, General Administration, Teaching, Research etc. in any body corporate, government body, statutory or autonomous body, public undertaking, financial institution, banks, consultancy firms, Law firms or any other organization/institution which in the opinion of the Council provides scope for adequate exposure for exemption from Students Induction Programme (SIP), or (ii) Candidates possessing professional qualification e.g CA, CWA, LL.B, BE/B.Tech/B.Arch, MBBS, Post Graduate Degree/Diploma in BusinessAdministration/ Management, MCA or any other qualification as approved by the Council from time to time. Students seeking exemption may apply within six months from the date of registration in the Executive Programme. The students who were enrolled on or after 1st September 2009 and yet not undergone the SIP may also apply for the exemption. The format of application for exemption is available under ‘Training’ section on the website (www.icsi.edu)
- 29. 28 Student Services Student Company Secretary January - February 2012 IMPORTANT E-MAIL IDS S.NO. TYPE OF QUERY QUERY TO BE FORWARDED TO THE E-MAIL ID 1. Registration Letter and Identity Card naveen.kumar@icsi.edu 2. Non-Receipt of Study Materials anju.gupta@icsi.edu 3. Paper-Wise Exemption s.hemamalini@icsi.edu 4. Non-Receipt of Student Company Secretary / Foundation Course Bulletin naveen.kumar@icsi.edu 5. Change of Address, E-Mail Id, Phone Number and Other Particulars naveen.kumar@icsi.edu 6. Response Sheet Status sp.singh@icsi.edu 7. Coaching Completion Certificate/ Suggested Answers sp.singh@icsi.edu 8. Oral Coaching ashvini.srivastava@icsi.edu 9. Public Private Partnership Scheme (for Oral Coaching) ashvini.srivastava@icsi.edu 10. Computer Training neelam.wadhwa@icsi.edu 11. Admit Card/ Roll Number for Examinations enroll@icsi.edu 12. Issue of Pass Certificates siyaram@icsi.edu 13. Issue of Transcripts siyaram@icsi.edu 14. Exemption from Training anita.mehra@icsi.edu 15. Any Management Training / Apprenticeship Training Related Query amit.sircar@icsi.edu 16. 15 Days’ Specialised Training priyanka.singh@icsi.edu 17. Status of ACS Membership Application monika.arora@icsi.edu 18. Non-Receipt of Membership Number shashi.prabha@icsi.edu 19. SIP/ EDP/ PDP/ MSOP, etc. training@icsi.edu 20. Stock Position of Study Materials store@icsi.edu 21 Refund of Foundation/ Executive/ Professional Examination Fee pradeep.yadav@icsi.edu 22. Refund of Foundation / Executive Registration Fee vk.ratra@icsi.edu 23. Refund of Professional Programme Registration Fee archana.goel@icsi.edu 24. Mark Sheets exam@icsi.edu 25. Verification of Marks exam@icsi.edu 26 Verification of Qualification siyaram@icsi.edu 27. Merit-Cum-Means Assistance Merit Scholarships exam@icsi.edu 28. ICSI Student Education Fund Trust ashvini.srivastava@icsi.edu 29. Enrolment to Professional Programme archana.goel@icsi.edu 30. Technical Problems at the Website dit@icsi.edu 31. Registration Denovo/ Extension archana.goel@icsi.edu 32. Any Other Query (Specify) ashvini.srivastava@icsi.edu Prize Query Is it incumbent on a listed public company to lay down procedures for risk assessment and minimising the effect thereof? Elucidate. Conditions 1. Answer should not exceed one page typed in double space. The answer sheet should contain the name, registration number and address of the student. 2. Last date for receipt of answer is 16th April, 2012. 3. Twoprizes(afirstandasecond)inkindwillbeawardedtothebestanswers and the names of the contributors will be published in the Bulletin. 4. The envelope should be superscribed Students Query January -February 2012 and addressed by name to N.K. Jain, Secretary Chief Executive Officer, the Institute of Company Secretaries of India, 'ICSI House', 22, Institutional Area, Lodi Road, New Delhi-110003. Students‘ Quiz ? 28 Student Services Student Company Secretary Expat Properties (I) Limited 2nd Floor, Sobha Pearl, No. 1 Commissariat Road Bangalore-560025 15 and 03 Months Practical Training Suitable Armstrong International Pvt.Ltd. Mahindra World City, P-46 Eighth Avenue, Domestic Tariff Area, Anjur Village, Natham Sub Chengalpattu-603002 15 and 03 Months Practical Training Suitable Vikram H Ltd., # 12 Center, C Bangalor Karvy Inv “Karvy H 46, Aven Banjara H Hyderab THE REGISTRATION OF NEWS PAPERS (CENTRAL) RULES, 1956 (FORM IV : RULE 8) Statement about ownership and other particulars of Student Company Secretary 1. Place of Publication : New Delhi 2. Periodicity of Publication : Bi-Monthly (Once in two months) 3. Printer's Name : N.K. Jain Whether Citizen of India : Yes If foreigner, State the country of origin : Not applicable Address : Secretary Chief Executive Officer, The Institute of Company Secretaries of India, 'ICSI House', 22, Institutional Area, Lodi Road, New Delhi-110003 4. Publisher's Name : N.K. Jain Whether Citizen of India : Yes If foreigner, State the country of origin : Not applicable Address : Secretary Chief Executive Officer, The Institute of Company Secretaries of India,'ICSI House', 22, Institutional Area, Lodi Road, New Delhi-110003 5. Editor's Name : N.K. Jain Whether Citizen of India : Yes If foreigner, State the country of origin : Not applicable Address : Secretary Chief Executive Officer, The Institute of Company Secretaries of India, 'ICSI House', 22, Institutional Area, Lodi Road, New Delhi-110003 6. Name and Address of individual who own the newspaper and partners or shareholers holding more than one per cent of the total capital : Not applicable Official journal of the Institute of Company Secretarties of India I, N.K. Jain, hereby declare that the particulars given above are true to the best of my knowledge and belief. Sd/- N.K. JAIN Date : 22nd April, 2011 Signature of the Publisher CHA STUD The C times, ha (in physic (once in 2011. Howe Company Institute, e-mail on the stude academic All stu PAP The C students o Programm Company Novermbe Exemptio candidate Foundati (4 papers Intermed 1. Financ (Paper 2. Applied Final Cou 3. Financ Interna 4. Indirec (Paper Studen above said final exam (Students the requis drawn in f at New De examinatio the last da The above for Found examinatio 1st March, 2012
- 30. 29 Student Services Student Company Secretary January - February 2012 LIST OF INSTITUTES EMPANELLED IN IMPARTING THE ORAL COACHING FACILITIES TO THE CS STUDENTS UNDER PUBLIC/PRIVATE PARTNERSHIP SCHEME S.No. Name Address of Empanelled Institutions. Validity for CS Session of Exams EASTERN INDIA REGIONAL COUNCIL 1. M/s Happy Coaching Institute Fatak, P.O. Budharaja Sambalpur-768 004 Orissa Tel: 06630533146/08984494844 cmatpsingh@gmail.com December 2011 June 2012 2 The Director M/s Institute for Inspiration Self Development 1-B/200/1, Sector-III Salt Lake City Kolkata-700 106 Tel : 033-23352378 / 23352861 033 23352379(F) info@iisdedu.in iisdedu@rediffmail.com June 2012 and December 2012 3. Saptarshi College, Back side of Sai Complex, Gandhi Nagar, Ist Lane-Extn. Berhampur, Ganjam ( Odisha ) M: 9238732929, 9238668062 09438406150, 09238668062 Saptarshi.college@yahoo.in June 2012 December 2012 4. WISDOM Institute of Professional Learning 3/100C, C R Colony, On Raja S C Mallick Road, Kollkata-32 M: 09836077024, 8013346863 Mywisdom.institute@gmail.com December 2011 June 2012 5 Topper’s Point AM-111, Ist Floor Basanti Nagar Rourkela – 12 ( Orissa ) Tel: 09861107344, 09338707483 topperpankajgarg@gmail.com June 2012 and December 2012 NORTHERN INDIA REGIONAL COUNCIL 1. M/S G.G.D.S.D. COLLEGE Rajpur (Palampur) Distt. Kangra Himachal Pradesh 01894 239041, 01894 239041 (F) principal@ggdsdrajpur.com December 2011 and June 2012 2. M/s Springdale College of Management Studies Madhotanda Road Pilibhit-262 001 (U.P) Tel: 05882259917 316790 M: 09219401731 info@scmspbt.org December 2011 and June 2012 3. M/s Sainath Commerce Classes C-20, Talwandi KOTA-324 005 Tel: 0744-2406656 M: 09829037488, 09829556325 Sainath_neeraj@yahoo.co.in December 2011 and June 2012 4. M/s Lucknow Commerce Academy S-72/17, Old `C` Block Chauraha Rajajipuram(Near Lekhraj Residence) Lucknow-226 017 Tel: 0522 6522800 M: 09452290590 Lca.yagwani@yahoo.co.in December 2011 and June 2012 5 M/s. Institute of Systematic Studies in Commerce, Behind Maharaja Hotel, Station Road, Moradabad- 244001 (UP) Tel: 0591 2312680 M: 09412235748 Issc.mbd@gmail.com June 2012 and December 2012 6 The Director, Commerce County-Institute for Commerce Studies, 137, Red Square Market, Near Palki Hotel, HISSAR – [Haryana} M: 9812066937, 8059296630 09896150937, 09812066937 commercecounty@gmail.com December 2011 and June 2012 7 M/S CS Academy, House No. 35, 8, Marla Colony, Jattal Road PANIPAT – [HARYANA] M: 09896256123 / 09255289445 09896256123, 09255289445 Devindergulati58@yahoo.com June 2012 and December 2012 8 AIMES 5/485, Vikas Nagar Lucknow – 226022 Tel: 09415007422, 09794051011 atrivedics@gmail.com csatrivedi@gmail.com June 2012 and December 2012 9 Director M/S Bharat Sir’s Commerce Institute 7445, Durga Puri Haibowal Kalan Ludhiana [Pb] Tel: 09216867899 09216367899 N.A. December 2011 and June 2012 10 Director, M/S Academy for Professional Studies, LUCKNOW Tel: 0522 2458797 M: 09336177110 Himani.arts2011@gmail.com December 2011 and June 2012 11 NIAM Institute of Applied Management, 20/1, Old Sher Shah Suri Marg, Opp: Sector 37, Faridabad Tel: 0129 4181800 (30 Lines) 418186 (Fax) Niam.india@hotmail.com December 2011 and June 2012 12 Mr Pramod Kumar M/S Hari Institute of Education and Training [HIET] House No 528 E,Opp Govt Agriculture Office, Sunder Nagar, Jaunpur 222002 [UP] Tel: 05452 222419 09451896313 Amit.srivastava@sparshsoft.com Pramod.kumar@gmail.com December 2011 and June 2012 13 Director, M/S Bharti School of Business Studies 9-N Model Town HISAR [Haryana] Tel: 01662 645911 M: 09812200014, 09215306011 bsbhisar@gmail.com mydreammba@yahoo.co.in December 2011 and June 2012 14 Heritage Women’s Polytechnic Krishna Colony, Near Railway Station Railway Road PALWAL ( Haryana ) M: 09355555103 Shiv_0306_sharma@yahoo.com December 2011 and June 2012 15 Shri Aatm Vallabh Jain Girls’ College Hnauman Garh Road Sri Ganganagar ( Rajasthan ) – 335001 Tel: 0154 246377/2464371(F) M: 09414537731 info@avjain.org avj12@rediffmail.com December 2011 and June 2012 16 Sri Jain Post Graduate College Ram Ratan Kochar Circle Nokha Road, Gangashahr Bikaner ( Rajasthan ) PIN-334401 M: 09414430763 Tel: 0151 2270141/2544275 aftrschool@in.com December 2011 and June 2012
- 31. 30 Student Services Student Company Secretary January - February 2012 17 The VIT Computer Education IIBA – The Institute of Industrial Business Accountants, 7-103, Vinayk-A Complex, Nr-HDFC Bank, Durga Nursery Road, Udaipur-313001 Tel: 0294 2418855 (Off) M: 09829260702, 09351952799 Vit_education@rediffmail.com December 2011 and June 2012 18 C S Launcher Bajaj Road Near – Taparia Bagichi Sikar – 332001 ( Rajasthan ) Tel: 01572 254033 amitmishraskr@gmail.com June 2012 and December 2012 19 Trinity College Dharamshala Road Fatehabad 125050 ( Haryana ) Tel: 01667 224456 M: 09896795444 trinitycollegefbd@gmail.com June 2012 and December 2012 20 Vishesh Academy of Commerce DSS-33, Old Court Complex Near Fawara Chowk Hisar ( Haryana ) M: 9813170795, 9215170795 09813170795, 09215170795 trjain_vishesh@yahoo.co.in June 2012 and December 2012 21 Institute of Management Technology Sector-87, Tigaon Road Near Sai Dham Faridabad – 121002 Tel: 0129-2229185, 0129 2229137/2229672/ 2229185/2229979 01292229888(f) imt@imtfaridabad.com June 2012 and December 2012 22 Bhandari Classes 270/9, “Pokharna House” Hathi Bhata, Ajmer- 305001 ( Rajasthan ) M: 09828505155, Tel: 0145-2600184 0145 2600184, 09828505155 ggbhandari@rediffmail.com June 2012 and December 2012 23 Pinnacle Academy 91A, Amritpuri, Opp : ISKCON Temple East of Kailash, New Delhi- 110065 M: 9818331830, 9891060540, 9810463007, 09818331830, 9891060540, 09810463007 Tel: 011-26291900 wxyzpradeep@gmail.com cspradeepdubey@gmail.com June 2012 and December 2012 24 Commerce Point, 1148, New Housing Board Colony, Panipat – 132103 ( Haryana ) M : 9896320328, 9467191327 09896320328, 09467191327 09802202512 caadityanandwani@gmail.com nandwani_aditya@yahoo.com June 2012 and December 2012 25 Lloyd Law College Plot No. 11, Knowledge Park-II Greater Noida – 201306 Tel: 0120 6492343, 3250947, 3250966 M: 9999703599, 8800621117 0987138512, 9871385313, 9818274186 lloydlawcollege@gmail.com December 2012 June 2013 26 Rudram Institute Gangapur City, Dist : Sawai Madhopur ( Rajasthan ), M: 9602322241 09602322241, rudruminstitute@yahoo.in December 2012 June 2013 27 Sehgal Tutorials 147, New Prabhat Nagar, Behind Ram Janki Mandir, Bareilly ( UP ) M: 9023439612, 9808290198 09219958083, 09023439612 09808290198, Vishal83hunt@gmail.com Vishal83del@rediffmail.com December 2012 June 2013 28 Institute of Corporate Studies 31/16, Civil Lines South Arya Samaj Road, Muzaffarnagar ( UP ) M: 9412210072, 0131-2622967 0131 2622967, 09412210072 csgoelkailash@gmail.com December 2012 June 2013 29 Commerce Academy 1747, NHBC, Sector-11, Above Purthi Hospital, Panipat ( Haryana ) M: 8059296630 nitin.bansal.2008@gmail.com December 2012 June 2013 WESTERN INDIA REGIONAL COUNCIL 1. M/s Career Classes 303, Shalimar Corporate Center 8, South Tukoganj, Near Hotel Balwas Indore (M.P), Tel: 04064688/4085394 M: 09826026468, careerclasses@rediffmail.com December 2011 and June 2012 2 M/s AEC India Commerce (Lawork) 208-209, Gopal Madhav Extension Place Above Shan Shoukat, Shinde Ki Chhawani, Gwalior-474 001 (M.P) Tel: 0751 2424240, M: 09893016415, 09827204115, Aec.com@gmail.com December 2011 and June 2012 3 The Principal M/s D.M.`s College of Arts, Science Commerce, Assagao, Bardez, GOA-403 507, Tel: 08322268488 2268683/ 0832 2268683(f), dmscollege@yahoo.com June 2012 and December 2012 4 The Director M/s Geetanjali Education Systems Private Limited, Geetanjali College of Computer Science Commerce, Indian Red Cross Building Suchak Road, Opp. Shastri Medan, RAJKOT-360 001 Tel: 0281-2587550/0281-2464377 M: 09726184584 Gespl09@gmail.com June 2012 and December 2012 5 The Director M/S Professional Excellence Academy Z-8, Behind Vijay Stambh, Near ICICI Bank, Zone-I, M.P.Nagar BHOPAL 462011 [MP] Tel: 0755 4225884, M: 9074622001 09893895805, Cs.amra@yahoo.com Academy.pea@gmail.com December 2011 and June 2012 6 The Director, Professioinal Academy of Competitve Execellence[PACE], B-402, 403, Silver Mall, R N T Marg, Indore- 452001 [MP], Tel: 0731 4044446 Reetesh_pace@rediffmail.com paceindore@gmail.com December 2011 and June 2012 7 H L Centre for Professional Education H L College Campus, University Road Navrangpura, Ahmedabad – 380009 Tel: 07932915262 07926464657(t/f), M: 9426173888 info@hlcpe.ac.in, gapathak@hlcte.ac.in December 2011 and June 2012 8 S V P M’s College of Commerce, Science and Computer Education, Malegaon Bk. Tal_ Baramati, Dist: Pune – 413115, Tel: 02112 253388/254216 M: 09423527913, Principal.vdr@gmail.com December 2011 and June 2012 9 Global Classes C-31, Ravi Nagar Near- Bhatiya Nursing Home Raja Talab, Raipur ( Chattisgarh )0771 4075158, M: 09827108633 Globalclasses101@gmail.com June 2012 and December 2012 10 Aakanksha Professional Classes Near Azad Chowk, Sadar Bazar Road, Raipur- 492001 ( Chattisgarh ) Tel: 0771-4070684 M: 9981145340; 9713788906, 09981145340, 9713788906 Atindradubey123@yahoo.in June 2012 and December 2012
- 32. 31 Student Services Student Company Secretary January - February 2012 11 RL’s Professional Academy Office No. 9 10, Center Point Building Kranti Chowk Aurangabad – 431001 M: 9595990044, Tel : 0240-2359901 0240 2359901 09595990044 rlsacdemy@yahoo.com June 2012 and December 2012 12 Kanha Tutorials 747, Swarnam, besides old vineet Talkies Opp: Gulmohar Sweets, Main Road Marhataal Jabalpur- 482002 ( Madya Pradesh ) M: 9827322811, Tel : 0761-4069546 0761 4069546 09827322811, 09827374225 kanhaacademyjbp@gmail.com kanhatutorialsjabalpur@yahoo.com June 2012 and December 2012 13 Study Circle B 2 106, Greenland Society J B Nagar Andheri ( East ) Mumbai – 59 Tel : 28272829 / 28262829 028272829/028262829 December 2012 and June 2013 SOUTHERN INDIA REGIONAL COUNCIL 1. M/s MOHANS Institute Sreyas, Chettiparambil Lane Thekkumbhagam,Tripunithura Ernakulam (Distt.), KERALA-682 301 Tel: 0484 2776089 M: 09447790689 mics@mohans.in mohansinstitute@gmail.com December 2011 and June 2012 2 PRESIDENT, M/s Dr. G.G. Shetty Educational Society ® Jnana Degula , 25/B-4 Near K.M.F. DHARWAD-580 004 Tel :0836-2465327, 0836-2465327 2462611 (fax) drdgshetty@yahoo.in shetty_dg@yahoo.co.in June 2012 and December 2012 3 M/s Bright Academy of Excellence Baba Foundation, Plot No.46 Door No.102, Flat No.6,1st Floor, South West Boag Road, T. Nagar Chennai-600 017 Tel: 044 24341116 Brightacademy2008@yahoo.co.in December 2011 and June 2012 4 M/s Prize Academy No.2, Teachers Colony (Off V.M. Street) Royapettah Chennai-600 014 prizeacademy@yahoo.com December 2011 and June 2012 5 M/s Sree Saraswathi Thyagaraja College Palani Road, Thippampatti Coimbatore Distt. POLLACHI-642 107 Tel: 04259 266550/266008 04259 266009(f) stc@stc.ac.in December 2011 and June 2012 6 The Principal M/s P.S.G.R. Krishnammal College For Women Peelamedu COIMBATORE-641 004 Tel: 0422 2572222 0422 2591255(f) principal@psgrkc.com December 2011 June 2012 7 The Director M/S Blue Dot Academy N0.4, Balaji Avenue, Ist Street T.Nagar CHENNAI – 600017 Tel: 044 42123501/42123502 044 42123503, 044 28344816(f) sreesri@mscindia.org December 2011 and June 2012 8 M/S Centre for Human Resources Deve lopment,Thekkel,Mannarakkayam PO ., Ponkunnam [via] Kanjirapally, Kottayam Dist., KERALA – 686506 Tel: 04828 208227 09447180377 chrdkply@gmail.com December 2011 and June 2012 9 M/s Angel Auditor College, SF N0. 37, Marakkadai Street, Brindavan Pudukottai 622001 Tel: 04322 220645 M: 09751324644, 08973127818 Angelinstitute.secretary@gmail.com June 2012 and December 2012 10 Chief Executive M/S 3-C, Computer Consulting Centre Manjathuruther Building Good Shepherd Road Kottayam 686001 Tel: 0481 2563134 2304457/58 Ktm3c@sify.com December 2011 and June 2012 11 Angel Auditor College-Kovai 11/1, Nehru Nagar, Saravanampatti PO: Saravanampatti Coimbatore – 641305 ( Tamilnadu ) M: 9751324644, 9659965205 9842492067, 09751324644 09659965205, 09842492067 Angelinstitute.secretary@gmail.com June 2012 and December 2012 12 Divine Education and Charitable Trust Gurukul Building, Gurukul Road Gurukul Nagar, Near- Munsif Court Karkala-574104 Udupi District ( Karnatka ) Tel : 08258-233757 M: 9964475417, 09964475417, 08258233757 alohakarkala@gmail.com June 2012 and December 2012 13 Singar Academy 52, III Floor, Salai Road Woriur Tiruchirappalli – 620 003 M: 09345122645, 09344604489 09150542433 June 2012 and December 2012 14 Kongu Arts Science College Nanjanapuram Erode- 638107 Tel : 0424-2242888, 2339933 0424 2242888/2339933 0424 2242810(f) kasc@kasc.ac.in December 2012 June 2013 15 Hyderabad Business School GITAM University, Rudraram Patancheru Mandal Medak – 502329 (Andhra Pradesh ) Tel: 08455-220055, 9441968259 M: 09441968259,08455220058 December 2012 June 2013 16 Sri Vishnu Educational Society Vishnupur, Bhimavaram, West Godavari Dist: - 534202 ( Andhra Pradesh ) M: 9949433566 e-mail: bvrmsvecw@gmail.com M: 08816 250864, 09949433566 09849822223 December 2012 June 2013
- 33. 32 Student Services Student Company Secretary January - February 2012 NORTHERN INDIA REGIONAL COUNCIL ICSI- MOTHER TERESA INSTITUTE OF MANAGEMENT V S ORAL TUITION CENTRE ORAL COACHING CLASSES FOR FOUNDATION (UNDER NEW SYLLSBUS) AND EXECUTIVE Modules-I II* FOR DEC. 2012 SESSION Oral Coaching Classes for Foundation (Under New Syllabus) and Executive Modules –I II* are likely to commence from 28th May, 2012 and 22nd June, 2012 respectively for Dec. 2012 session. Course Fee: Foundation Rs. 5000/-• Executive Programme Module-I Rs. 5500/- • Executive Programme Module-II* Rs. 5000/-(To be deposited in PNB Branch in MTIM Centre Compound.) Registration is open on all working days between 9:00 A.M. and 5:00 P.M. Admission on First- Come-First-Served basis. Subjects Under New Syllabus: 1. Business Environment Entrepreneurship, 2. Business Management, Ethics Communication, 3. Business Economics, 4. Fundamentals of Accounting Auditing, Timings: 4.00 to 5.30 P.M. (Monday to Saturday) (*Provided sufficient number of students are registered for (Module-II). For further details, please contact: Mr. J. K. Chawla, Mother Teresa Institute of Management Vocational Studies, C-Block, Preet Vihar, Delhi-110092 # Phones: 22057200, 42420552, 42420553, Fax: 22509200, E-mail: mtim@vsnl.net 12 MR. K N RAMASAMY, Director, -Academics, RR Academy N0.2, Noor Veerasamy Street, Off Vaalluvar Kottam High Road, Nungambakkam, Chennai 600034 June`11 and December`11 sessions of CS Examinations 13 Principal M/S Kathir College of Engineering “Wisdom Tree” S.F N0. 812/1, Neelambur, Coimbatore-641062 June ’11 and December`11 sessions of CS Examinations 14 Director, PSG Institute of Management, Post Box N0.1668, Avinashi Road, Peelamedu, Coimbatore 641004 June ’11 and December`11 sessions of CS Examinations 15 Chief Executive M/S 3-C, Computer Consulting Centre Manjathuruther Building Good Shepherd Road, Kottayam - 686001 December’11 and June ‘2012 sessions of CS Examinations. 16 Angel Auditor College-Kovai 11/1, Nehru Nagar, Saravanampatti PO: Saravanampatti Coimbatore – 641305 ( Tamilnadu ) Tel: 9751324644, 9659965205, 9842492067 June 2012 and December 2012 sessions of CS Examinations 17 Divine Education and Charitable Trust Gurukul Building, Gurukul Road Gurukul Nagar, Near- Munsif Court Karkala-574104 Udupi District ( Karnataka ) Tel : 08258-233757, 9964475417 June 2012 and December 2012 sessions of CS Examinations 18 Singar Academy 52, III Floor, Salai Road Woriur Tiruchirappalli – 620 003 June 2012 and December 2012 sessions of CS Examinations 4 M/s Prize Academy No.2, Teachers Colony (Off V.M. Street) Royapettah, Chennai-600 014 December`11 and June`12 sessions of CS Examination. 5 M/s Sree Saraswathi Thyagaraja College Palani Road, Thippampatti Coimbatore Distt. Pollachi-642 107 December`11 and June`12 sessions of CS Examination. 6 The Principal M/s National College Dindigul Road Karumandapam, Tiruchirapalli-620 001 (T.N) June`11 and December`11 sessions of CS Examinations. 7 The Principal M/s P.S.G.R. Krishnammal College For Women Peelamedu Coimbatore-641 004 December’ 11 June’12 sessions of CS Examinations. 8 The Director M/S Blue Dot Academy N0.4, Balaji Avenue, Ist Street N0.4, Balaji Avenue, Ist Street T.Nagar, Chennai – 600017 December ’11 and June ’12 sessions of C S examinations. 9 M/S Centre for Human Resources Development,Thekkel,Mannara kkayam PO ., Ponkunnam [via] Kanjirapally, Kottayam Dist., Kerala - 686506 December’11 and June ’12 sessions of C S examination. 10 M/s Angel Auditor College, SF N0. 37, Marakkadai Street, Brindavan Pudukottai - 22001 June`12 and December`12 sessions of CS Examinations 11 Dr. Mohan Alva M/S Alva Education Foundation Alva’s College. Sundari Anand Alva Campus Vidyagiri, Moodbidri Dakshina Kannada Dist. [Karnataka] June`11 and December`11 sessions of CS Examinations Online Services for Students through students' portal www.icsi.in Students of ICSI may avail following online services: (i) Students can view the status of his / her registration application form already submitted for registration as student. (ii) Students can take printout of Admit Card ( i.e. Roll No. of exam ), Registration letter, De-novo letter, Extension letter, Professional Program enrolment letter etc. (iii) New Students can submit their online registration form for registration in Foundation / Executive Programme. (iv) Students who have passed both modules of Executive Program, they can submit their enrolment form for admission in Professional Programme. (v) Students can take printout of “e-Student Identity Card”. (vi) Students can change their address, Mobile Number, e-mail ID etc. instantly. (vii) Students can submit the “On-line Examination Form” for appearing in institute’s examination to be held in June / December. (viii) Students who have already submitted their examination form and subsequently they wish to apply for any change in Exam Centre / or Module / or Medium of examination, they can also submit such requests through on-line services. Attention Students! Executive Programme Availability of Soft Copies of Executive Programme Study Material The Study Material on CD ROM of each subject of Executive Programme has been made available by the Institute at all its Regional and Chapter Offices.The students, who have been registered for Executive Programme from 1st September, 2010 onwards may collect the above CDs (Soft Copy) from their respective Regional/Chapter Office on production of their Identity Card. List of Institutes Imparting Oral Coaching to CS Students ATTENTION STUDENTS! ONLINE EXEMPTION TEST ON COMPUTER KNOWLEDGE PROFICIENCY In terms of Company Secretaries Regulaions, 1982 (as amended), all students are required to sucessfully, undergo a compulsory Computer Training Programme to be eligible for enrolment to appear in CS Executive Programme examinations. A student can be exempted from undergoing the computer training only on the basis of their present computer knowledge. Such students have to however pass an online exemption test. The Institute, in compliance to the above said requirements, has tied up with M/s Sify Software Limited to conduct the ONLINE EXEMPTION TEST through its test centres spread across India. Student should enrol for an online exemption test (to be conducted by Sify) with their registration ID and Date of Birth• Link for online registration for the exemption test :• http://icsi.sifyitest.com The test will be conducted at any of the recognized Sify Centre throughout India• The list of Sify Centres including detailed process is given in the website• http://icsi/sifyitest.com Students can pay offline/online to appear for the test• Details about Online exemption test being conducted by M/s Sify Duration of the Test : 80 Minutes Fees payable online - Examination charges Rs. 440/-+ bank charges as applicable Fees payable offline - Examination charges Rs. 440/- Bank charges Rs. 50/- Total Rs. 490/- Students will be allowed TWO attempts to clear the online exemption test within a period of 30 (thirty) days against the fees mentioned above. Studensf can also contact Sify for any query by sending mail to icsi_hlpdesk@sifyitest.com Regisered students with Sify can log in and give their feedback/complaint through the portal. Students may please note that M/s Aptech shall continue to provide for the computer training ONLY to the students of the Institute.