CORE REFORMS – NOVEMBER 4 TH, 2009 Development Partners Comments.
NEW LOGO OF ICSI Report2008... · 2009-10-28 · considered appropriate by the Core Group. The Core...
Transcript of NEW LOGO OF ICSI Report2008... · 2009-10-28 · considered appropriate by the Core Group. The Core...
Nesar Ahmad S.N. Ananthasubramanian Sita Ram Bansal(Govt. Nominee)
Keyoor Bakshi (Immediate Past President)
Lalit Bhasin (Govt. Nominee)
Ashok Chandra Biswa Behari Chatterjee Ghanshyam Dass Sanjay Grover
Milind B. Kasodekar
R. Sridharan A. K. Srivastava (Govt. Nominee)
Sudhir Babu C. Harish K. Vaid
N K Jain
(Secretary & CEO)
Vinayak S. Khanvalkar (Vice-President) T h e C o u n c i l ( 2 0 0 7 - 2 0 1 0 )
(Govt. Nominee) (Govt. Nominee)
Pradeep Kumar Mittal Anil Kumar Murarka B. Narasimhan Preeti Malhotra
(Past President)
Prithvi Haldea (Govt. Nominee)
Datla Hanumanta Raju (President)
NEW LOGO OF ICSI
The Institute
• develops a cadre of highly competent Company
Secretaries for ensuring corporate governance and
effective management by registering Students with
10+2 and graduate qualifications for Foundation and
Executive Programmes of Company Secretaryship
Course respectively with course contents in Law,
Management, Accounting and Finance disciplines;
• provides postal / oral / web-based coaching and
training enabling Students to qualify as Company
Secretaries;
• conducts Company Secretaryship Examination twice
a year in June and December, at 68 centres spread all
over India and an overseas centre at Dubai;
• arranges practical training for Executive/ Professional
Programme pass Students with Companies/Practising
Company Secretaries empanelled with the Institute for
the purpose;
• enrols qualified persons as Associate/ Fellow
Members of the Institute and issues Certificate of
Practice to Members taking up practice;
• conducts Post Membership Qualification Courses for
Members of the Institute;
• publishes widely read and highly acclaimed monthly
journal 'Char tered Secretary' disseminating
information, expeditiously.
• publishes 'Student Company Secretary' and 'CS
Foundation Course Bulletin' for the benefit of Students;
• uploads on the website of the Institute (www.icsi.edu)
CS Updates containing current notifications and
circulars relating to various corporate and related laws
generally on weekly basis;
OBJECTIVES AND FUNCTIONS
• exercises professional supervision over the Members
of the Institute both in practice and in employment in
matters pertaining to Professional Ethics and Code of
Conduct;
• undertakes research in Law, Management, Finance
and Capital Market disciplines and brings out research
publications;
• formulates Secretarial Standards and brings out
Guidance Notes thereon;
• renders expert advisory services to Members on
intricate issues relating to various corporate laws;
• organises Professional Development and Continuing
Education Programmes, International/ National/
Regional Conventions and Conferences directly or
through its Regional Councils and Chapters,
Chambers of Commerce, Department of Public
Enterprises, Sister Professional Institutes and other
Professional Development/ Management Bodies;
• interacts with various National and Regional Chambers
of Commerce with regard to various Government
Policies and Legislations;
• interacts with Members of International Federation of
Company Secretaries and Company Secretaries
Institutes in other jurisdictions;
• bestows ICSI National Award for Excellence in
Corporate Governance to best governed Companies;
• bestows ICSI Lifetime Achievement Award to eminent
corporate personalities for Translating Excellence in
Corporate Governance into Reality;
• conducts Investor Awareness Programmes
throughout the country on behalf of the Investor
Education & Protection Fund, Ministry of Corporate
Affairs; and
• under takes Research Projects on behalf of
Government and its Agencies / Institutions.
*****
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SECRETARY & CEO N K JAIN
SENIOR DIRECTOR (EXAMINATIONS) S D SHARMA
SENIOR DIRECTOR (TRAINING, MEMBERSHIP, LEGAL & PLACEMENT) S KUMAR
SENIOR DIRECTOR (PUBLIC RELATIONS AND CORPORATE COMMUNICATION) AMITA AHUJA(DR.)
SENIOR DIRECTOR (INFORMATION TECHNOLOGY) ANKUR YADAV
DEAN, ICSI-CCRT GOPAL CHALAM
DIRECTOR (FINANCE AND ACCOUNTS) S K ARORA
DIRECTOR (ACADEMICS) SUTANU SINHA
DIRECTOR (STUDENTS SERVICES) SOHAN LAL
DIRECTOR (ACADEMICS) V P SHARMA
DIRECTOR (ADMINISTRATION & PURCHASE) P K GROVER
JOINT DIRECTOR (HUMAN RESOURCE DEVELOPMENT ) SANJAY GUPTA
AUDITORS AND BANKERS
STATUTORY AUDITORS THAKUR , VAIDYANATH AIYAR & CO.
CHARTERED ACCOUNTANTS
221-223, DEEN DAYAL MARG
NEW DELHI – 110 002
INTERNAL AUDITORS G.C. SHARDA & CO.
CHARTERED ACCOUNTANTS
D-34, LGF, EAST OF KAILASH
NEW DELHI – 110 065
BANKERS CANARA BANK, INDIAN BANK, ICICI BANK,
STATE BANK OF INDIA, SYNDICATE BANK,
VIJAYA BANK, HDFC BANK, CITI BANK
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MANAGEMENT TEAM
THE INSTITUTE OF COMPANY SECRETARIES OF INDIA
HEADQUARTERS
ICSI HOUSE, 22, Institutional Area, Lodi Road, New Delhi – 110 003
Tel. : 41504444, 24617321-24, 24644431-32 Fax : 24626727(STD Code :011)
E-Mail : [email protected] Website : www.icsi.edu
C-37, Sector 62, Noida (U.P.) – 201 309
Tel: 4239993–4239999 Fax : 4264443 & 4264445 (STD Code : 0120)
RESEARCH CENTRE
ICSI-CENTRE FOR CORPORATE GOVERNANCE, RESEARCH & TRAINING
Plot 101, Sector-15, Institutional Area, CBD Belapur,Navi Mumbai- 400 614
Tel : 27577814-16 / Fax : 27574384(STD Code : 022) E-mail : [email protected]
REGIONAL COUNCILS/OFFICES AND CHAPTERS
1. EASTERN INDIA REGIONAL COUNCIL OF THE ICSI
ICSI-EIRC Building, 3-A, Ahiripukur Ist Lane, Kolkata – 700 019
Tel : 22816541, 22816542, 22832973 / Telefax : 22816542 (STD Code : 033)
E-mail : [email protected] Grams : COMPSEC
Chapters : Bhubaneswar, Dhanbad, Hooghly, Jamshedpur, North- Eastern (Guwahati), Patna and Ranchi
2. NORTHERN INDIA REGIONAL COUNCIL OF THE ICSI
ICSI-NIRC Building, 4, Prasad Nagar Institutional Area, Rajendra Place, New Delhi-110 005
Tel : 25763090, 25767190, 25816593 / Telefax : 25722662(STD Code : 011)
E-mail : [email protected] / [email protected]
Chapters : Agra, Ajmer, Allahabad, Alwar, Amritsar, Bareilly, Bhilwara, Chandigarh, Dehradun, Faridabad,
Ghaziabad, Gurgaon, Jaipur, Jalandhar, Jammu, Jodhpur, Kanpur, Karnal-Panipat, Kota, Lucknow, Ludhiana,
Meerut, Modinagar, Noida, Rohtak, Shimla, Sonepat, Srinagar, Udaipur, Varanasi and Yamuna Nagar
3. SOUTHERN INDIA REGIONAL COUNCIL OF THE ICSI
ICSI-SIRC House, 9, Wheat Crofts Road, Nungambakkam, Chennai-600 034
Tel : 28279898/28222212 Telefax : 28268685 (STD Code : 044) E-mail : [email protected] / [email protected] Grams: COMPSEC
Chapters : Bangalore, Calicut, Coimbatore, Hyderabad, Kochi, Madurai, Mangalore, Mysore, Palakkad,
Puducherry, Salem, Thiruvananthapuram, Thrissur, Tiruchirapalli and Visakhapatnam
4. WESTERN INDIA REGIONAL COUNCIL OF THE ICSI
13, Jolly Maker Chambers No.2 (1st Floor), Nariman Point, Mumbai – 400 021
Tel : 22844073, 22047580, 22047569, 22047604 Fax : 22850109 (STD Code : 022)
E-mail : [email protected]
Chapters : Ahmedabad, Aurangabad, Bhopal, Dombivli, Goa, Indore, Kolhapur, Nagpur, Nashik, Navi Mumbai,
Pune, Raipur, Rajkot, Surat, Thane and Vadodara
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1. INTRODUCTION
In terms of the requirements of sub-section (5B) of
section 18 of the Company Secretaries Act, 1980, the
Council of the Institute of Company Secretaries of India
is pleased to present its Twenty Ninth Annual Report
and audited statements of consolidated accounts
along with the Auditors' Report thereon for the year
ended March 31, 2009.
2. ACADEMIC AND PROFESSIONAL DEVELOPMENT
2.1 Companies Bill, 2009
The Government introduced the Companies Bill, 2009
on August 3, 2009 in Lok Sabha. The important
proposals relating to the profession of Company
Secretaries include the following:
• Company Secretary recognized as key managerial
personnel along with CEO & CFO.
• Scope of annual return widened and annual return
to be signed by a Director and the Company
Secretary, or where there is no Company
Secretary, by a Company Secretary in whole-time
practice. In the case of listed Companies and
Companies having such paid-up capital and
turnover as may be prescribed, annual return also
to be signed by the Company Secretary in whole-
time practice certifying that the company has
complied with all the provisions of the Act.
• Concept of report on annual general meeting of
listed public company introduced.
• Recognition to Secretarial Standards given. Every
company to observe Secretarial Standards as may
be prescribed with respect to general and Board
meetings.
• Company Secretaries along with other
professionals recognized for appointment as
Interim Company Administrator in respect of
revival and rehabilitation of sick Companies.
• Company Secretaries along with other
professionals recognized for appointment as
Provisional Liquidator/Company Liquidator.
REPORT OF THE COUNCIL
• Company liquidator authorized to appoint one or
more professionals including Company
Secretaries to assist him in the performance of his
duties and functions.
• Company Secretaries along with other
professionals recognized for being appointed as
registered valuer.
2.1.1 Limited Liability Partnership Act, 2008
Limited Liability Partnership Act, 2008 has been
enacted to make provisions for the formation and
regulation of limited liability partnerships (LLP) and for
matters connected therewith or incidental thereto.
LLP provides benefits of limited liability and at the
same time allows flexibility of organizing the internal
structure based on mutually arrived agreement. Due to
these unique characteristics, LLP form of organization
is expected to become an extremely popular business
vehicle particularly for SMEs as well as entrepreneurs,
professionals and enterprises providing services of
any kind or engaged in scientific and technical
disciplines. The LLP Act, 2008 recognises Company
Secretary in Practice who is engaged in the formation
of LLP to make the statement that all the requirements
of the Act and the Rules made thereunder have been
complied with, in respect of incorporation of the LLP
and matters precedent and incidental thereto. The LLP
Rules, 2009 require annual return of an LLP having
turnover of five crore Rupees or more or contribution of
fifty lakh Rupees or more to be certified by a Company
Secretary in Practice. LLP Rules, 2009 also authorize
Company Secretary in Practice to pre-certify several
forms to be true and correct.
2.1.2 Core Group to discuss the issues arising out of
Satyam Episode
The Council of the Institute at its 185th meeting held on
January 19, 2009 constituted the Core Group to
discuss the issues arising out of Satyam Episode.
The terms of reference of the Core Group include :
(i) various issues raised by the Government in its
letter dated January 7, 2009 ;
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(ii) disciplinary action against the erring Member(s) ;
(iii) strengthen the governance framework amongst
corporates ;
(iv) changes in the legal / policy framework regulating
the corporates and the professionals; and
(v) such other recommendations as may be
considered appropriate by the Core Group.
The Core Group accordingly met and discussed the
above issues on February 19, 2009, March 20, 2009
and June 6, 2009.
2.1.3 ICSI Logo
With a view to creating a cohesive brand image for the
profession of Company Secretaries, a new corporate
identity program has been launched with a new logo-
masthead for the Institute. The new logo adopted by
the Council of the Institute and unveiled by Hon'ble
Vice-President of India, Mr. M Hamid Ansari on
December 20, 2008 at Vigyan Bhawan, New Delhi,
represents contemporary professional outlook and
proactive approach in delivery of services.
The new Logo stands for stability and integrity. The
core of the new identity "connecting for collective
growth" is epitomized by four letters signifying a
mature and multifaceted profession. The letters CS in
the centre of the identity integrate to form an upward
arrow embodying the Institute's vision of growth and
excellence in corporate governance. The holistic
perception of the identity reflects soft edges with a
sharp interior. Set in deep blue colour, the bold and
elegant masthead lends it an air of authority and
leadership.
2.1.4 ICSI Students Education Fund
To encourage and motivate economically backward
and academically bright Students to pursue the
Company Secretaryship Course, the Institute has
created 'ICSI Students Education Fund' with an initial
contribution of seventy five lakh Rupees. Students
with a family income upto one lakh Rupees per annum
and having secured 75% marks in both Secondary as
well as Senior Secondary Examinations and 60%
marks in Graduate degree examination are eligible for
assistance from the Fund for pursuing Foundation/
Executive Programme.
Academically bright Students having secured 90%
marks in Secondary and Senior Secondary
Examinations and 85% marks in Graduate degree
examination without any limit on their family income
are eligible for assistance from the Fund for pursuing
Foundation/Executive Programme.
2.1.5 E-learning Portal for Company Secretaryship
Programme
In order to faciliate Students with on-line education/
study, the Institute had launched E-learning portal for
the CS Programme in association with Gurukul Online
Learning Solutions (GOLS), Mumbai. Students from
anywhere including rural and semi-urban areas can
avail this 24x7 hours on-line study facility. The
E-learning module enables the Students to have
access to learning and faculty support at any time as
per their convenience.
The e-learning project is being implemented for
Foundation, Executive and Professional Programmes
in a phased manner as follows:
(i) Web Based Training (WBT) : The study/contents
have been modified into well-crafted teaching
systems. It has multimedia slides covering the
entire study material
(ii) Video Based Training / Audio Based Training
(VBT/ABT) : It comprises video/audio lectures on
the topics covered in the subject
(iii) Live Virtual Classroom (LVC) : It provides live
broadcasts of lectures over the internet and the
Students can directly interact with the faculty
online and clear their doubts
For Foundation Programme 433 Students have
registered for the Web Based Training and 29 Students
have registered for the combo course, i.e. (WBT +
VBT/ABT + LVC) as on September 7, 2009, while 334
Students have registered for the Web Based Training of
Executive Programme.
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The E-learning Portal of ICSI can be accessed by
logging on to http://elearning.icsi.edu
E-learning is an optional learning facility extended by
the Institute in addition to mandatory postal coaching
scheme or the oral coaching scheme.
2.1.6 Library Assistance to Regional Councils and
Chapters
The Core Group constituted by the Council for
strengthening Regional Councils and Chapters had
recommended that in view of the introduction of new
syllabus, each of the Regional Councils and Chapters
be provided with fresh one-time grant to equip the
Library with new books and the Headquarters was
advised to procure the books and supply them to the
Regional Councils and Chapters.
The Headquarters purchased books and supplied to all
the Regional Councils and 51 Chapters across the
country wherever library facilities are available for the
benefit of the Students and Members.
2.1.7 Memorandums of Understanding
Collaboration is the key for success in the new age.
Networking, co-working and co-creation are the
propellers of progress in the knowledge era. The
networks have not only to be cross-professional, they
also have to be cross-geographies and cross-cultures.
Accordingly, the Institute has been entering into
proactive MOUs as mutually beneficial to share
resources, ideas, capabilities and capacities. A brief
description of MOUs which the Institute entered into
during the year is given below:
Indira Gandhi National Open University (IGNOU)
MOU between the Institute and the Indira Gandhi
National Open University enables the Students to
pursue simultaneously B.Com with major in Corporate
Affairs and Administration as they study Executive
Program for the CS Course. As they pass the
Professional Programme for the CS Course, they will
be able to pursue M.Com with major in Business Policy
and Corporate Governance. IGNOU has also
recognized Membership of the ICSI as eligible for
pursing Ph.D in Commerce, Management and Law
disciplines.
Signing the MOU with IGNOU was a grand occasion
graced by the presence of the then Hon'ble Union
Minister of Corporate Affairs Mr. Prem Chand Gupta,
the Vice-Chancellor of IGNOU Prof. V N Rajasekharan
Pillai and Chief Executive of Hong Kong Institute of
Chartered Secretaries, Mr. Philip Baldwin.
National/State level Chambers of Commerce
MOU with National and State Level Chambers of
Commerce and Industry, during the year. These
include - Associated Chambers of Commerce and
Industry, New Delhi; Federation of Andhra Pradesh
Chambers of Commerce and Industries, Hyderabad;
Merchants Chamber of Commerce, Kolkata;
Bangalore Chamber of Industry and Commerce,
Bangalore; Pitampur Adhiyogik Sangthan, Indore; Urla
Industries Association, Raipur. Collaboration with
these Chambers of Commerce and Industries would
provide professional mileage to Company Secretaries
to showcase their strength in various kinds of
industries and services.
National Stock Exchange of India, Mumbai
MOU with National Stock Exchange of India, Mumbai
provides for appropriate fee concession to the
Students of CS Course who appear for NSE's
Certification in Financial Market (NCFM) Modules;
training to Company Secretaries in Securities markets
and areas of Corporate Governance; organization of
joint Investor Awareness Programmes, Compliance
Seminar for Trading Members of NSE and compliance
officers of the listed Companies.
TH2.1.8 5 Assembly of IFCS
International Federation of Company Secretaries
(IFCS) has been constituted by the Institute of
Company Secretaries of India, Pakistan, Bangladesh
and Kenya. The Institute of Company Secretaries of
Nepal has become observer member of the IFCS. thThe 5 Annual Meeting of the IFCS was held on
November 5, 2008 at Goa and attended not only by the
member Institutes but also by the Presidents/CEOs of
the Institute of Company Secretaries from around ten
countries. Such participation shows the widening
interest and growing solidarity of the profession in
different parts of the world.
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2.1.9 International Fellowship Programme
A full day International Conference was organized by
the Institute for stimulating understanding of
“International Economics and Corporate Governance
in Emerging Economies“ on May 12, 2008 at
Hongkong. The delegation of the Institute held
discussions with Ms. Fianna Jesover, Sr. Project
Manager, Corporate Affairs Division, OECD, Ms.
Natalia Seng, President and Mr. Philip Baldwin, Chief
Executive, HKICS and Mr. Jamie Allen, Secretary-
General, Asian Corporate Governance Association.
The discussions were very positive and encouraging in
establishing the Institute's brand image abroad. The
member delegates from India also visited Macao and
Beijing as part of International Professional Fellowship
Program 2008.
th2.1.10 8 ICSI National Award for Excellence in
Corporate Governance
The Institute's quest for excellence received further
reinforcement with the presentation of ICSI National
Award for Excellence in Corporate Governance and
Lifetime Achievement Award for Translating
Excellence in Corporate Governance into Reality for the
year 2008. Mr. M Hamid Ansari, Hon'ble Vice-
President of India presented the awards on December
20, 2008 at Vigyan Bhawan, New Delhi. Mr. Prem
Chand Gupta, the then Hon'ble Union Minister of
Corporate Affairs was the Guest of Honour.
Best Governed Companies Awards
Mahindra & Mahindra Limited Chairman
Mr. Keshub Mahindra
Company Secretary
Mr. Narayan Shankar
MindTree Limited Chairman
Mr. Ashok Soota
Company Secretary
Ms. T N Usha
ICSI Life Time Achievement Award Dr. E Sreedharan
for Translating Excellence in Managing Director
Corporate Governance into Delhi Metro Rail
Reality, 2008 Corporation
JURY FOR THE ICSI NATIONAL AWARD FOR
EXCELLENCE IN CORPORATE GOVERNANCE, 2008
Chairman
Hon'ble Mr. Justice R C Lahoti,
Former Chief Justice of India
Members
Dr. J J Irani Director, Tata Sons Limited
Dr. K C Chakrabarty Chairman & Managing Director,
Punjab National Bank
Dr. M B Athreya Management Consultant
Mr. Naresh Chandra Former Cabinet Secretary,
Government of India
Mr. Philip Armstrong Head, Global Corporate
Governance Forum
Mr. Prabir Sengupta Distinguished Fellow,
The Energy and Resources
Institute (TERI)
Mr. Rajinder Gupta Managing Director,
Abhishek Industries Ltd.
Mr. Rajeev Chandrasekhar President, FICCI
Mr. Rajiv Memani Country Managing Partner,
Ernst & Young
Mr. Rajnikant Patel Former MD & CEO,
Bombay Stock Exchange Ltd.
Mr. Raman Roy Chairman & Managing Director,
Quatrro BPO Solutions Pvt. Ltd.
Mr. Ravi Narain MD & CEO, National Stock
Exchange of India Limited
Mr. Sajjan Jindal President, ASSOCHAM
Mr. S Ramadorai CEO and MD, Tata Consultancy
Services Limited
Mr. T K Arun Editor, Delhi–The Economic Times
Mr. Y C Deveshwar Chairman, ITC Limited
Dr. Y R K Reddy Founder, Academy of Corporate
Governance and Yaga Consulting
Mr. Keyoor Bakshi President, The ICSI
Secretary to Jury
Mr. N K Jain Secretary & CEO, The ICSI
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2.1.11 Professional Development and Continuing
Education
It is through professional development and training
programmes and such other activities, that the
Institute seeks to impart continuing education to its
Members, to keep them updated in view of far reaching
and frequent changes in matters relating to corporate
and business affairs. In furtherance of this objective, a
number of national, Regional and Chapter level thprofessional development programmes besides 36
National Convention were held during the year.
th2.1.12 36 National Convention
thThe 36 National Convention of Company Secretaries
was organised on November 6-8, 2008 at Kala
Academy, Goa on the theme Achieving Excellence
Through Innovation. The presence of nearly 850
delegates from around the country and sister
professional bodies abroad made the National
Convention a memorable event. The presence of
experts and professionals, policy makers from the
Government, industry leaders and academicians
resulted in generation of immense wealth of
knowledge, ideas and perceptions for futuristic
thinking, planning and actioning for achieving
professional excellence through innovation. His
Excellency, Dr. S S Sidhu, Governor of Goa inaugurated
the Convention, Mr. S A Bhat, Chairman & Managing
Director, Indian Overseas Bank was the Special Guest,
Mr. Dattaraj V Raj Salgaocar, Managing Director, V M
Salgaocar Group of Companies was the Guest of
Honour and Mr. R Gopalakrishnan, Executive Director,
Tata Sons was the Key Note Speaker. At the
Valedictory Session Mr. Digambar Kamat, Hon'ble
Chief Minister of Goa was the Chief Guest, Mr. S
Balasubramanian, Chairman, Company Law Board
was the Guest of Honour and Mr. A K Ravi Nedungadi,
Director, Kingfisher Airlines was the Special Guest.
2.1.13 PCS Conference
th9 PCS Conference
thThe Institute organised its 9 National Conference of
Practising Company Secretaries at Bhubaneswar on
the theme 'Be the Change You want to Become' on
August 29-30, 2008. His Excellency Mr. M C
Bhandare, Governor of Orissa was the Chief Guest,
Mr. Baijayant Panda, Hon'ble Member of Rajya Sabha
graced the occasion and delivered Key Note address at
the inaugural session.
th10 PCS Conference
The Institute organized the 10th National Conference of
Practicing Company Secretaries on the theme
"Professional of Company Secretaries - Surging
Ahead" on July 31 - August 1, 2009 at Pune. Shri Allen
C A Pareira, Chairman & Managing Director, Bank of
Maharashtra was the Chief Guest and inaugurated the
Conference. Dr. Vijay Pandurang Bhatkar, an eminent
Scientist who built the PARAM series of Super
Computers in India, was the Chief Guest at the
Valedictory Session. Eminent faculty and experts with
comprehensive practical exposure deliberated on
Corporate Boards and PCS; Value-based Practice;
Capacity Building for Emerging Regulatory
Prescriptions; and Profession-Professional-
Professionalism. About 200 delegates from all over
the country attended and par ticipated in the
Conference .
2.1.14 Secretarial Standards
ICSI is the first professional body of its kind to start the
process of setting Secretarial Standards for
integration, harmonization and standardization of
corporate secretarial practices. The Secretarial
Standards are formulated by the Secretarial Standards
Board of the Institute by following a transparent
procedure involving issuance of Exposure Draft
inviting comments from Members and the public at
large before its adoption by the Council of the Institute.
The Institute has so far issued the following Ten
secretarial standards.
1) Secretarial Standard on Meetings of the Board of
Directors (SS-1)
2) Secretarial Standard on General Meetings (SS-2)
3) Secretarial Standard on Dividend (SS-3)
4) Secretarial Standard on Registers and Records
(SS-4)
5) Secretarial Standard on Minutes (SS-5)
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Brokers containing analysis of various functions which
the stock brokers are required to undertake in their
dealings with investors, issuers and regulators
including detailed checklist and number of appendix.
Ph. D.
During the year, four Universities recognized the
Company Secretaryship qualification of the Institute as
equivalent to Post Graduate Degree for pursuing Ph.D.
programmes as under :
(1) Guru Govind Singh Indraprastha University, Delhi
for doing Ph.D in Management and Law;
(2) Gauhati University, Guwahati for doing Ph.D. in
Commerce;
(3) Behrampur University, Behrampur for doing Ph.D.
in Management; and
(4) Mahatma Gandhi University, Kottayam for doing
Ph.D. in Commerce.
In all, forty eight universities have recognized
Company Secretaryship qualification as eligible to
pursue Ph.D. programme in Commerce, Law and
Management.
3. COUNCIL
3.1 President and Vice-PresidentthAt the 185 meeting of the Council held on January 19,
2009, Shri Datla Hanumanta Raju from Southern
Region and Shri Vinayak S Khanvalkar from Western
Region were elected as President and Vice-President
respectively, for a period of one year w.e.f. January 19,
2009.
3.2 Council Meetings
Apart from various Committee meetings, the Council
held seven meetings during the year.
3.3 Composition of Committees
The composition of various Standing and Non-
Standing Committees, Expert Groups and Advisory
Boards constituted by the Council is given at
Appendix 'A'.
3.4 Details of meetings held and attended by Members are
given at Appendix 'B'.
6) Secretarial Standard on Transmission of Shares
and Debentures (SS-6)
7) Secretarial Standard on Passing of Resolutions by
Circulation (SS-7)
8) Secretarial Standard on Affixing of Common Seal
(SS-8)
9) Secretarial Standard on Forfeiture of Shares (SS-9)
10) Secretarial Standards on Board's Report (SS-10).
The Companies Bill, 2009 proposes to make it
mandatory for every company to observe Secretarial
Standards as may be prescribed with respect to
general and Board meetings.
2.2 Recognitions
Diligence Report by PCS
The Reserve Bank of India has mandated all Scheduled
Commercial Banks and Primary Urban Co-operative
Banks to obtain a Diligence Repor t from a
professional, preferably a Company Secretary, on a
half yearly basis regarding compliance with all
statutory and contractual obligations in respect of
Companies availing multiple banking/consortium
lending arrangements.
A High Level Core Group comprising senior bankers,
representatives of the IBA, FEDAI formulated a
Guidance Note on Diligence Report for Banks. The
guidance note contains detailed compliance inputs
and checklists on all twenty five paragraphs prescribed
by the RBI covering many critical and relevant matters.
Internal Audit of Stock Brokers
SEBI authorized the Company Secretaries to carry out
Internal Audit of Stock Brokers / Trading Members /
Clearing Members on a half yearly basis. The scope of
this internal audit is wide and covers interalia the
existence, scope and efficiency of the internal control
system, compliance with applicable regulatory
prescriptions, agreements, data security and
insurance in respect of operations of the stock
brokers/clearing Members.
The Institute as part of capacity building of its
Members in particular and professionals in general
brought out a Guidance Note on Internal Audit of Stock
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4. REGIONAL COUNCILS AND CHAPTERS
4.1 Regional Councils
All the four Regional Councils continued to provide
valuable support and assistance to the Council by
carrying out their activities and functions with zeal and
enthusiasm throughout the year. The Regional
Councils conducted Professional Development
Programmes, Seminars, Workshops, Training
Orientation Programmes, Secretarial Modular Training
Programmes, Oral Coaching Classes, Academic
Development Programmes, Study Circle Meetings,
Regional and State Conferences and participated in
Career Fairs. Other activities included Library up-
dations, publishing news bulletins, providing
employment service to Members by maintaining a
database, disseminating information to Members and
Students, etc.
4.2 Statistics at a Glance
The Reserves & Surplus and the number of Students
and Members in each Regional Council as on March
31, 2009 are as under: -
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4.3 Chapters
4.3.1 Gradation of Chapters
The Chapters have been classified into Grades A, B, C
and D with a bench mark of minimum number of
Members with effect from April 1, 2008 as indicated
below:
Grade No. of Members No. of Chapters
A 300 and above 7
B 100 to 299 10
C 25 to 99 27
D 12 to 24 25
ITEM EIRC NIRC SIRC WIRC
GENERAL RESERVE ON 31.3.2009 (RS.) 49,19,855 3,18,76,407 2,84,58,291 2,96,10,894
SURPLUS FOR THE YEAR 2008-09 (RS.) 12,17,642 89,24,141 67,08,783 92,89,959
NO. OF MEMBERS
AS ON 31.3.2009 1993 6513 4686 6675
AS ON 31.3.2008 1896 6157 4482 6300
NO. OF STUDENTS FOR INTERMEDIATE/ EXECUTIVE PROGRAMME
AS ON 31.3.2009 10995 26559 18377 23634
AS ON 31.3.2008 9394 22446 16482 20794
NO. OF STUDENTS FOR FOUNDATION PROGRAMME
AS ON 31.3.2009 7553 19012 6300 9119
AS ON 31.3.2008 4785 13061 4774 6828
During the period under report, 69 Chapters were
functioning at the following places:
East : Bhubaneswar, Dhanbad, Hooghly,
Jamshedpur, North Eastern (Guwahati),
Patna and Ranchi
North : Agra, Ajmer, Allahabad, Alwar, Amritsar,
Bareilly, Bhilwara, Chandigarh, Dehradun,
Faridabad, Ghaziabad, Gurgaon, Jaipur,
Jalandhar, Jammu, Jodhpur, Kanpur,
Karnal-Panipat, Kota, Lucknow, Ludhiana,
Meerut, Modinagar, Noida, Rohtak,
Shimla, Sonepat, Srinagar, Udaipur, Varanasi
and Yamuna Nagar
South: Bangalore, Calicut, Coimbatore, Hyderabad,
Kochi, Madurai, Mangalore, Mysore,
Palakkad, Puducherry, Salem, Thiruva-
nanthapuram, Thrissur, Tiruchirappalli and
Visakhapatnam
West : Ahmedabad, Aurangabad, Bhopa l ,
Dombivli, Goa, Indore, Kolhapur, Nagpur,
Nashik, Navi Mumbai, Pune, Raipur, Rajkot,
Surat, Thane and Vadodara
All the Chapters continued to carry on various activities
including holding of oral tuition classes, arranging
training for Students, organizing professional and
continuing education programmes, publishing News
Bulletins, providing Library facilities, etc.
As on date, the following Chapters have their own
office premises:
Ahmedabad, Bangalore, Bhopal, Bhubaneswar,
Coimbatore, Dombivli, Ghaziabad, Goa, Hyderabad,
Indore, Jaipur, Kanpur, Kochi, Lucknow, Madurai,
Mangalore, Nagpur, Patna, Pune, Surat and Vadodara
4.3.2 Best (i) Regional Council (ii) Chapter and (iii) Satellite Chapter Awards for the Calendar year 2007
In order to recognize the contributions made by the
Regional Councils and Chapters as well as to give a
boost and to create competitive spirit among them, the
Council of the Institute had instituted the Best Regional
Council and Best Chapter Awards. Accordingly, Best
Regional Council, Best Chapter and Best Satellite
Chapter Awards for the year 2007 were presented at ththe inaugural function of 36 National Convention held
at Goa on November 6, 2008.
Best Regional Council : NIRC
National Best Chapter : Hyderabad
Grade-wise Best Chapters
'A-1' : Bangalore
'A' : Jaipur
'B' : Coimbatore
'C' : Bhubaneswar
'D' : Bhilwara
'E' : Mysore
Best Satellite Chapter : Aurangabad
5. PUBLICATIONS
5.1 Chartered Secretary
The monthly journal Chartered Secretary being
published by the Institute since 1971 has received
wide accolades from various quarters, be it industry,
commerce, trade or professionals for its quality
publication of informative articles on contemporary
topics, prompt reporting of Government Notifications,
judicial pronouncements, etc. The journal continues to
serve as an effective medium of communication
between the Institute, its Members and others. During
the year under review, four special issues of the journal
were brought out on the following subjects : -
1. Companies Bill, 2008
2. Retail, Real Estate and Infrastructure
3. Competition Law
4. Corporate Insolvency & Restructuring
6. ICSI-CENTRE FOR CORPORATE GOVERNANCE,
RESEARCH AND TRAINING
6.1 ICSI–Centre for Corporate Research and Training
(ICSI-CCRT), Navi Mumbai was established by the
Institute in 1999 with the primary objective to act as a
catalyst organisation in the professional development
of the Indian corporate sector through qualitative
research and high level corporate training, with
particular reference to meeting the needs of Company
Secretaries in areas of corporate and economic laws,
Corporate Governance, financial and capital markets,
international trade, human resource management, etc.
Since its existence, ICSI-CCRT has been involved in
conducting high–end Training Programmes for
Members, Students, Corporates and Government &
regulatory Bodies. In this process, this Centre has
identified “Corporate Governance” as a forte in the
Corporate arena. To be an effective leader in this
sphere, ICSI-CCRT has developed training module on
'Corporate Governance' for Directors.
Keeping in view the penchant and in order to excel in
the domain of Corporate Excellence (CCRT) has been
rechristened as “Centre for Corporate Governance,
Research & Training” (CCGRT).
11
6.2 Training Related Activities
To keep with the aspirations and expectations of the
Institute, ICSI-CCGRT conducted programmes on
“Effective Audit Committee”, “Leveraging Independent
Directors”, “Corporate Governance” and “Board of
Directors Reports”, “Company Secretary to Corporate
Director”, “Grooming for Success”, "Foreign
Exchange Risk Management", “Appearance before
SAT”, “Private Equity”, “Risk Management under
Clause 49 of the Listing Agreement”, “Hedge Funds”,
“Valuation”, “Project Financing”, “Real Estate
Investment Trusts (REITs) & Mutual Funds” and
“Carbon Credit” etc.
CCGRT also forayed outside Navi Mumbai and
organized joint programmes with the Eastern India
Regional Council (EIRC), Southern India Regional
Council (SIRC), Western India Regional Council
(WIRC), besides Bangalore, Coimbatore, Hyderabad &
Jaipur Chapters of the ICSI.
CCGRT also provide support for collaborative training
with various organizations.
6.3 Annual Membership Scheme
CCGRT has introduced this Scheme as an invitation to
all professionals, individuals and corporate to attend a
variety of professional development programmes with
the convenience of making a one time payment.
6.4 Residential Secretarial Modular Training
Programmes (RSMTP)
An activity added to CCGRT's Training initiative for the
Company Secretary Students is through the
Residential Secretarial Modular Training Programmes
(RSMTP). CCGRT organizes Residential SMTPs where
Students from all over India, mainly from non-metro
centres and abroad take advantage and get the
opportunity for interaction with expert professional
faculty. In addition to the core subjects of the normal
SMTP Programme, the participants are exposed to
topics on general management, human relations,
financial markets, etc. at the pre-dinner session.
Students also get the opportunity to enhance their
communication skills, presentation skills and co-
operative learning through presentation of Group
Projects before a panel of experts.
CCGRT with its amenities, well designed programme
schedule incorporating varied topics, adept faculties
possessing rich exposure and expertise in their
relative fields and placement assistance has helped to
create a niche for RSMTP participants.
6.5 Research Initiative of CCGRT
ICSI-CCGRT generally undertakes policy oriented and
applied research of immediate utility to the Company
Secretaries, Corporate Sector /Banks /FIs/
Government, Regulatory Authorities and Development
Agencies.
Knowledge gaps and untapped niche are identified and
an attempt is made to fill these. As a general rule, short
and medium term projects are taken up and core
competence built up in the select area.
In order to foster and nurture proactive research
among the Members of the Company Secretaries
profession, for the first time ICSI Research initiative
was announced by the Institute in 2003. The basic idea
is to develop sound base and insights into
corporate/related laws, their delivery mechanism,
need for harmonization/changes in light of emerging
realities, corporate governance, etc. and use the
developed knowledge base with the Government,
regulatory and international agencies. CCGRT has
been entrusted with the responsibility of administering
the scheme.
CCGRT initiated research studies on segment modules
of various sectors having considerable business
prospects for company secretaries. So far, 23 diverse
segments covering – ITES and BPO, Banking Industry,
Non-Governmental Organizations, Stock Brokers and
Sub-Brokers, Depository Participants, Registrar to an
Issue and Share Transfer Agents, Stock Exchanges,
Credit Rating Agencies, Venture Capital Fund, Mutual
Funds, Merchant Bankers, Tourism Industry, Insurance
Industry, Entertainment Industry, Pharmaceutical
Industry, Power Sector, Por tfolio Managers,
Commodities Markets, Telecommunication Sector,
Food Processing Industry, Co-operative Societies
Textiles and Automobile Industry were finalized and the
reports published in Chartered Secretary for wider
dissemination of information amongst the profession.
12
The project is an ongoing venture and more segments
covering new sectors are proposed to be undertaken.
6.6 Association with outside institutions
In addition to the in-house research being done by the
faculty, research is undertaken in association with
outside experts/professionals. CCGRT has completed
a number of commissioned research projects for
outside agencies /institutions prominent among these
are projects assigned by State Bank of India (SBI),
Indian Institute of Banking & Finance (IIBF), Indian
Banks' Association and the National Stock Exchange of
India Limited.
CCGRT has entered into a Memorandum of
Understanding with the Symbiosis International
University to inter-alia, regularly exchange resources
and hold training programmes for Students on themes
of topical and professional interest.
CCGRT has also entered into a Memorandum of
Understanding with the Indian Institute of Banking &
Finance (IIBF) to inter-alia, develop, offer and hold
seminars, workshops, conferences etc. which would
be of mutual benefit and interest besides designing and
developing a course in Compliance and Risk
Management for banking sector.
7. INFORMATION TECHNOLOGY
7.1 The notable achievements during the year included the
new developments on e-learning, development of ERP
modules, development of Document Management
System (DMS) & Office Automation (OA) portal, Client
Sever application sof tware development &
implementation for Membership and Examination
activities, upgrading application software pertaining to
Students services to cater to the revised syllabus,
Upgrading the Institute's website and initiatives taken
to strengthen and expand the network and its security.
During 2008-09 in addition to the Web Based Training
(WBT) Video Based Training (VBT) and Live Virtual
Class room (LVC) for Foundation Programme and WBT
for Executive Programme were launched.
Enterprise Resource Planning (ERP) Modules as a part
of this COSMIC project have been developed for
catering to the requirements of purchase, accounts,
store and human resource related activities of the
Institute. Document Management System (DMS) &
Office Automation (OA) portal as a part of this COSMIC
project has been developed to facilitate the Institute in
establishing a centralized foolproof secured system
under which all important documents could be
scanned, stored in the computer and retrieved on
demand. Around 5 lacs documents of the Institute
have been scanned and uploaded into this system.
Implementation of a comprehensive Correspondence
Management System, Agenda Management System,
Online Services for Students & Members with payment
gateway and Self Services comprising of Leave
Application, payroll and other reimbursements/claims
in addition to the generic utilities such as net meeting,
chat, discussion forum, etc are a part of these
developed systems. Implementation of centralized
domain controller and Microsoft Exchange Server for
emailing purposes for all offices of the Institute under
single domain was a big achievement during the year
2008-09.
7.2 Upgradation of Technology
Upgrading technology and maintaining uniformity and
standards is a continuous process. Implementation of
software pertaining to Membership related activities
on latest .Net platform, Online module for change of
address by the Members, Upgradation and
implementation of software pertaining to Student
Services related activities due to revision of syllabus
were part of this initiative. Development of software
pertaining to Examination related activities and its
partial implementation was also an achievement
during this year.
The website of the Institute was upgraded and updated
considering the suggestions received from various
stakeholders. ICSI-NIRO was integrated with ICSI
Noida Office through Virtual Private Network (VPN)
with an objective to provide shared band width for
internet connectivity for all users and effective control
of the systems through remote access and
administration. Initiatives were taken to link all seven
major offices of the ICSI i.e. ICSI, Lodi Road, ICSI
Noida, four Regional Offices and ICSI-CCGRT so that
better and efficient services are provided through
13
various components of the COSMIC Project and
website of the Institute. Initiatives were taken to
upgrade the security system in the Institute through
implementation of latest Antivirus software, firewall
equipments and backup software. A Data Security
Policy document was also got prepared in view of the
launching of various online services for the stake
holders.
The regular processes of upgradation of software,
hardware, database management and training to
improve the skill set in the Institute were done on need
basis throughout the year. A pro-active approach has
been adopted to computerize most of the offices of the
Institute at the Regional and the Chapters level to
ensure the best of services through these offices to the
stakeholders.
8. MEMBERS
8.1 New Admissions
During the year under review, 1590 and 268 Members
were admitted as Associates and Fellows respectively.
As on March 31, 2009 the Institute had 14924
Associates and 4943 Fellow Members aggregating to
19867 Members on the Register of Members out of
which 287 were residing abroad. Names of 3222
Members has so far been removed from the Register
on account of non-payment of prescribed fee.
As on March 31, 2009 3088 Members were holding
Certificate of Practice. During the year 427
Certificates of Practice were issued.
The Council regrets to report the sad demise of 24
Members during the year.
8.2 ICSI-ICSA MOU
GATT under WTO provides for opportunities as well as
challenges to professionals the world over. This is
indeed an opportunity to the proactive and forward-
looking professionals. Visualizing these challenges
and opportunities, the Institute has been taking
necessary initiatives to build up the capabilities of its
Members over the years. The MOU with ICSA London
is one such initiative towards globalisation of
profession of Company Secretaries.
During the year, 55 Members sought registration as
Students of ICSA, UK Division under the ICSI-ICSA
MOU. As on date, 971 Members of the Institute have
sought registration as Students of ICSA since the
implementation of MOU with effect from
January 1, 2001.
ICSA examinations were conducted in June and
December 2008 in eight major cities where Regional
Councils, Grade-'A' Chapters are located, viz.,
Ahmedabad, Bangalore, Chennai, Hyderabad, Kolkata,
New Delhi, Mumbai and Pune.
8.3 List of Members
In pursuance of section 19(3) of the Company
Secretaries Act, 1980 read with regulation 161 of the
Company Secretaries Regulations, 1982, a List of
Members as on April 1, 2009 has been published. The
Members' Directory is also available on the website of
the Institute.
8.4 Identity Card for Members
Identity Cards are being issued to the Members on
request on a continuous basis.
8.5 Licentiateship
During the year 134 Students who passed the Final
examination of the Institute were admitted as
Licentiates-ICSI.
The number of Licentiates-ICSI with valid
Licentiateship as on March 31, 2009 stood at 315.
8.6 Placement Services
The Institute at its Headquarters, Regional Councils,
Chapters and ICSI-CCGRT provide placement
assistance to Members. Database of Members
desirous of availing placement services is maintained
and the list of eligible Members is provided to the
corporates for consideration. The Members may
register themselves on line with the placement cell of
the Institute for availing the placement services.
The requirements for the Company Secretaries
received from the corporates are hosted on the
Institute's website and also displayed on the notice
boards of Regional Councils / Chapters. The
14
Institute/Regional Councils/Chapters / CCGRT also
organize Campus interviews. Requirement from 260
Companies were received and biodata were provided
during the year by the Placement Cell.
9. STUDENTS SERVICES
9.1 Registration to Executive Programme
Students are the main asset of the Institute and
accordingly the Institute strives to provide the best
services to them. During the year, a total of 29539
Students were registered as against 20432 in the
previous year for the Executive Programme. The
number of Students with valid registration as on
March 31, 2009 was 79565 as against 69116 for the
corresponding previous year.
9.2 CS Foundation Programme
The CS Foundation Programme for the 10 + 2
Students is becoming increasingly popular. During the
year, 20943 Students were admitted for the Foundation
Programme as against 12089 during the previous year.
The number of Foundation Programme Students as on
March 31, 2009 was 41984 as against 29448 during
the corresponding previous year.
9.3 Coaching
During the year, a total of 27770 coaching completion
certificates were issued to the Students of both oral
and postal coaching as against 20301 coaching
completion certificates issued during the previous
corresponding year.
9.4 Rationalization of the criteria under Postal
Coaching System
Keeping in view the changing times, the Council has
rationalized the criteria for issue of Coaching
Completion Certificate under Postal Coaching Scheme
wherein the number of compulsory Response Sheets
to be submitted by the Students have been brought to
an optimal level, i.e. one Response Sheet each per
subject as against the erstwhile criteria of three
Response Sheets per subject.
9.5 Compulsory Computer Training
Successful completion of Computer Training has been
made compulsory and prerequisite for all the Students
intending to seek enrolment in appearing in the
Intermediate (Executive Programme) Examination
from December, 07 session onwards. The number of
Students admitted to Computer Training Programme
during the financial year 2008-09 is as under:-
- Computer Training Programme (70 hrs) 9268
- On-line exemption test 9884
10. EXAMINATIONS
10.1 Conduct of Examinations
In June, 2008 Company Secretaries Foundation
Course, Intermediate, and Final examinations were
held under the old syllabus ,i.e., as per syllabus
prescribed in the Schedule CCB to the Company
Secretaries Regulations, 1982 and in December,
2008, for the first time, the examinations under the new
syllabus for Foundation Programme and Executive
Programme were held concurrently along with
Foundation Course, Intermediate and Final
examinations under the old syllabus at 66 centres all
over India and one overseas centre in Dubai. A total of
23689 and 30273 candidates sought enrolment for
appearing in June and December, 2008 sessions of
examinations respectively. Number of candidates who
completed various stages of examinations during the
year 2008-09 are given below :
15
STAGE OF EXAM EXAMINATION SESSION
June 2008 December 2008
Foundation Not Applicable 3353Programme
Foundation 2089 270
Executive Not Applicable 3043Programme
Intermediate 3088 1133
Final 1855 1722
List of examination centres and the statistics relating to
examination results are given in Appendix 'C' and
Appendix 'D' respectively.
10.2 Conduct of Post Membership Qualification
(PMQ) Examination
The Institute conducted the Post Membership
Qualification (PMQ) examination in “Corporate
Governance” in June, 2008 and December, 2008
simultaneously with Company Secretaries
examinations. Statistics relating to Post Membership
Qualification (PMQ) examination result is given in
Appendix 'E'.
10.3 All-India Prize Awards
In order to inspire and recognise the brilliant
performance of Students in Company Secretaries
examinations, the Institute has instituted a number of
awards. The following Students won the President's
All-India Awards for June and December, 2008
examinations :
Pt. Nehru Birth Centenary Annual Award was won by
Mr. Nikhil Satyanarayan Jaju of Aurangabad. The
particulars of other prize winners along with existing
all-India Prize Schemes, Regional and Chapter Prize
Schemes were published in the Institute's official
bulletins 'Student Company Secretary' and 'C. S.
Foundation Course Bulletin'.
10.4 Merit Certificates/Merit Scholarships/Financial
Assistance
Merit Certificates were awarded to 25 top-ranked
successful Students each in Foundation Programme /
Foundation Course, Executive Programme /
Intermediate and Final examinations held in June, 2008
as well as in December, 2008.
Pursuant to Merit Scholarship Scheme, Scholarships
were awarded to first 15 toppers qualifying all papers
of Foundation Programme/Foundation Course and
Executive Programme/Intermediate examinations in
the first attempt in June, 2008 as well as December,
2008 sessions of examination for pursuing further
studies for the Executive Programme/Intermediate and
Professional Programme/Final Course of Company
Secretaries examinations respectively. Likewise,
under the Merit-cum-Means Assistance Scheme,
financial assistance were granted to eligible
candidates considering their economic background
and meritorious performance in June, 2008 and
December, 2008 examinations.
11. TRAINING
11.1 Empanelment of Companies / Company
Secretaries in Practice for imparting training
The Institute continued to make efforts to expand its
training base by empanelling more Companies as well
as Practising Company Secretaries for providing
training to Students. During the year, 319 Companies
were empanelled for imparting 15 months training and
111 Companies for imparting 3 months' practical
training.
212 Practising Company Secretaries were empanelled
for imparting training.
Total No. of Companies empanelled for imparting 15
months & 3 months practical training is 3590 and
2710 respectively and total No. of Practising Company
Secretaries empanelled for imparting training is 1669.
11.2 Training Orientation Programme (TOP)
During the year, 67 Training Orientation Programmes
were organized. A total of 2529 Students successfully
completed the same.
11.3 Academic Development Programme
During the year, 41 Academic Development
Programmes were conducted. A total of 1895
Students attended the same.
16
Examination June, 2008 Centre Dec, 2008 Centre
Intermediate/ Ms. Garima Jodhpur Ms. Mamta JodhpurExecutive Agarwal JainProgramme
Final Sh. Dhaval Ahme- Mr. Gagan KolkataNavinchandra dabad Jain Vohera
Extensive coverage to CS Career was provided through
Publication of Career Features/ Press Interviews &
Press Releases in several editions of leading National
and Business newspapers.
15 Press Conferences were held at various Regional
Councils/ Chapters thus providing all India mileage to
the ICSI.
12.4 Career Awareness
1500 Career Awareness Programmes were held
across the Country with a view to spread awareness
about the CS Course with a lot of emphasis on the
small and moffussil cities and towns. Career
Awareness Weeks I & II were also organized in
coordination with Regional Councils/Chapters
throughout the length & breadth of the country.
For Career Awareness in Remote/Rural/Moffussil
areas of the country 71 Counsellors were appointed by
the Institute to popularize the CS course and attract the
talent lying untapped in these areas.
13. FINANCES
13.1 Surplus
A surplus of Rs. 2285.27 Lacs was recorded for the
current year as compared to Rs. 412.06 Lacs during
the previous year.
13.2 Reserves
(a) Capital Reserve
The Capital Reserve stood at Rs. 124.50 Lacs as on
March 31, 2009 as against Rs. 97.97 Lacs as on
March 31, 2008.
(b) General Reserve
The General Reserve stood at Rs. 6213.27 Lacs as on
March 31, 2009, as against Rs. 3867.69 Lacs as on
March 31, 2008.
13.3 Statutory and Internal Auditors
M/s. Thakur, Vaidyanath Aiyar & Co., Chartered
Accountants, New Delhi were appointed as Statutory
Auditors of the Institute for the year ended March 31,
2009. The Auditors' Report is published along with the
statements of accounts.
17
11.4 Secretarial Modular Training Programme
(i) Regular SMTP
During the year, 30 regular Secretarial Modular Training
Programmes (SMTPs) were conducted. A total of
1517 candidates successfully completed the same.
(ii) Residential SMTP
During the year, ICSI-CCGRT organized 5 Residential
SMTPs. 157 candidates attended the programme.
12. BRAND BUILDING / MEDIA VISIBILITY
12.1 Logo Designing and Publicity
The new Logo of ICSI and CS Logo for Members were
designed through the National Institute of Design.
Stickers for the same were distributed to the Regional
Councils / Chapters and Members respectively to
create greater visibility for the Institute and its
Members. Massive publicity for the new Logo was
generated through release of corporate and student
advertisements with new Logo.
12.2 Advertisements
Advertisements were released in Corporate and
Business Magazines and Advertisements for Students
were released in National /Regional Newspapers
across India.
12.3 Media Coverage
The Institute in its constant endeavour for brand
building gained extensive coverage on the CS Course
& Profession in the Electronic media throughout the
year by way of various Seminar telecasts/ Live Panel
discussions/ Scrollers, Radio Spots ensuring all India
visibility of the Institute. 14 programmes on CS were
broadcast on AIR, AIR FM, 80 TV Interviews on CS
Course & Profession to various TV Channels were
telecast. Exclusive Reports and Scrolls on various
topics and seminar coverages were aired/ covered by
31 TV Channels (also covered repeat telecasts) thus
providing cost-free visibility to the Institute.
48 Press Interviews, 47 Career Features and 219 Press
Releases were covered in more than 400 Newspapers
having several editions across India.
M/s. G C Sharda & Co., Chartered Accountants, New
Delhi were re-appointed as the Internal Auditors of the
Institute for the year ended March 31, 2009.
13.4 Capital Grant and Loan to the Regional Councils
and Chapters
Grant of Rs. 15.15 Lacs was given to the Chapters for
acquiring office premises during the year.
14. COMPANY SECRETARIES BENEVOLENT FUND
(CSBF)
CSBF had a strength of 6611 life Members as on
March 31, 2009 against 5961 life Members as on
March 31, 2008 as per region-wise break-up given
below :
stRegion As on 31 March
2009 2008
EIRC 506 469
NIRC 2205 1854
SIRC 1716 1603
WIRC 2131 1983
Foreign 53 52
An amount of Rs.3.14 Lacs being the surplus of
Income over Expenditure for the current year was
transferred to General Reserve Fund as compared to
Rs. 2.16 Lacs transferred during previous year.
Capital Fund and General Reserve Fund of the CSBF as
on March 31, 2009 stood at Rs.244.88 Lacs and
Rs.66.02 Lacs respectively against Rs.175.89 Lacs
and Rs.62.89 Lacs as on March 31, 2008.
15. HUMAN RESOURCE DEVELOPMENT
15.1 Introduction of ERP System
In order to improve the overall efficiency of the
employees and also to eliminate the manual process,
the Institute has introduced the ERP system with
regard to absence management / maintenance of leave
records / MIS w.e.f. April 28, 2009.
18
15.2 Implementation of revised Pay & Allowances
In order to retain the best talents and also to motivate
the employees, the Council of the Institute considered
the 6th Central Pay Commission Report as accepted
by the Government of India and was pleased to revise
the Pay Scales in respect of existing grades and posts
in the Institute on the lines of the recommendations of
the 6th Central Pay Commission.
15.3 Training & Development
During the year, 129 Executives & 22 Staff Members
were nominated to attend various training
programmes/workshops including National
Conferences/Seminars on important topics such as
Workshop on Research Methods & Research Paper
Writing, World Bank Round Table on World Trade
Indicators 2008, Cost Reduction Tools & Techniques,
and Transforming Educational Institutions for Global
Opportunities. Further, all the staff Members attended
One day Workshop on Change Management.
15.4 Succession Planning
As a part of succession planning development
mechanism including career planning, a number of
employees were promoted/transfer red/new
appointments made for resultant/new vacancies.
15.5 Staff Welfare Schemes
(a) Employees were sponsored/ referred to
M/s Escorts Heart Institute, under Preventive
Medical Health Check-up Scheme.
(b) Two employees were awarded Cash Awards of
Rs.3,000 & Rs.10,000 for acquiring Professional
Qualification under the newly launched Incentive
Scheme, instituted for acquiring higher
Professional Qualifications.
15.6 Medical benefits to superannuated employees
As a part of welfare measure, the Council of the
Institute was pleased to extend the medical
hospitalisation benefits for both “Major & Minor
Diseases” to the employees of the Institute who retired
from the services of the Institute on attaining the age of
superannuation and were granted superannuation
pension.
15.7 Employees Relation & Welfare
As on March 31, 2009, the manpower strength of the
Institute was 237, which comprised around 30% in
female workforce
The relation between the employees and the
Management remained cordial. Various issues raised
by the ICSI Employees' Union were mutually
deliberated and amicably resolved. The ICSI
Employees' Union assured to extend their
wholehear ted continuous support in providing
efficient services to the Students/Members and other
stake holders.
16. FUTURE OUTLOOK
When the present is proactive, positive and pleasant,
the future of the profession is bound to be glorious. At
present the vibrations from the economic earthquake
are making the corporate world a bit shaky. These are
inevitable and although unwelcome consequences of
integration of the national economy with the world
economy, these may be likened to teething troubles of
the process of global economic integration. For the CS
profession the current scenario provides ample
opportunities for carrying forward the torch of good
corporate governance and promoting the CS
professionals as world class governance
professionals.
.
17. ACKNOWLEDGEMENTS
The Council places on record its gratitude to the
various Ministries and Offices of the Central
Government, particularly the Ministry of Corporate
Affairs, SEBI, Stock Exchanges, RBI, and other
regulatory authorities for their help, guidance and
support to development of the profession and
encouraging the activities of the Institute during the
year. The Council is also grateful to various State
Governments, Financial/ Industrial/ Investment
Institutions/Corporate Sector, various Chambers of
Commerce, Trade Associations and other Agencies in
general in availing the services of Members of the
Institute and in recognizing their expertise.
The Council also places on record its deep
appreciation to the Members of the Quality Review
Board, Core Group on ICSI Vision 2020, Secretarial
Standard Board, Expert Advisory Board, Editorial
Advisory Board and Disciplinary Committee of the
Institute. The Council places on record its thanks to the
Regional Councils and Chapters for extending their
whole-hearted co-operation and support and also to
the Officers and Staff of the Institute for their
unflinching commitment and devotion to their duties.
For and on behalf of the Council
Place : New Delhi (Datla Hanumanta Raju)
Date : 28.08.2009 PRESIDENT
19
EXECUTIVE COMMITTEE
Datla Hanumanta Raju Chairman
Vinayak S Khanvalkar Member
Keyoor Bakshi Member
Pradeep K Mittal Member
Anil Murarka Member
A K Srivastava Member
FINANCE COMMITTEE
Datla Hanumanta Raju Chairman
Vinayak S Khanvalkar Member
Nesar Ahmad Member
S R Bansal Member
Milind B Kasodekar Member
R Sridharan Member
EXAMINATION COMMITTEE
Datla Hanumanta Raju Chairman
Vinayak S Khanvalkar Member
Sudhir Babu C Member
Anil Murarka Member
Sanjay Grover Member
PROFESSIONAL DEVELOPMENT COMMITTEE
Datla Hanumanta Raju Chairman
Sudhir Babu C Member
S R Bansal Member
Lalit Bhasin Member
Milind B Kasodekar Member
Preeti Malhotra (Ms.) Member
Pradeep K Mittal Member
B Narasimhan Member
Harish K Vaid Member
A K Srivastava Member
Prithvi Haldea Member
TRAINING AND EDUCATIONAL FACILITIES COMMITTEE
Vinayak S Khanvalkar Chairman
Nesar Ahmad Member
S N Ananthasubramanian Member
Keyoor Bakshi Member
Ashok Chandra* Member
Biswa Behari Chatterjee Member
Ghanshyam Dass Member
Sanjay Grover Member
Anil Murarka Member
R Sridharan Member
PRACTICING COMPANY SECRETARIES COMMITTEE
Sanjay Grover Chairman
Nesar Ahmad Member
S N Ananthasubramanian Member
Sudhir Babu C Member
Pradeep K Mittal Member
Anil Murarka Member
R Sridharan Member
Harish K Vaid Member
Milind B Kasodekar Member
CCRT MANAGEMENT COMMITTEE
S N Ananthasubramanian Chairman
Sudhir Babu C Member
Keyoor Bakshi Member
Milind B Kasodekar Member
B Narasimhan Member
PMQ COURSE COMMITTEE
Datla Hanumanta Raju Chairman
Vinayak S Khanvalkar Member
Sudhir Babu C Member
Anil Murarka Member
Sanjay Grover Member
APPENDIX 'A'
STANDING AND OTHER COMMITTEES OF THE COUNCIL
20
INFORMATION TECHNOLOGY COMMITTEE
Milind B Kasodekar Chairman
Sudhir Babu C Member
Preeti Malhotra (Ms.) Member
B Narasimhan Member
R Sridharan Member
COORDINATION COMMITTEE
Datla Hanumanta Raju Chairman
Vinayak S Khanvalkar Member
Harish K Vaid Member
CORPORATE LAWS AND GOVERNANCE COMMITTEE
Pradeep K Mittal Chairman
Sanjay Grover Member
Preeti Malhotra (Ms.) Member
Anil Murarka Member
R Sridharan Member
CAPITAL MARKETS COMMITTEE
B Narasimhan Chairman
Nesar Ahmad Member
S N Ananthasubramanian Member
Sudhir Babu C Member
Biswa Behari Chatterjee Member
Prithvi Haldea Member
ICSI BUILDING COMMITTEE
R N Bansal Chairman
Nesar Ahmad Member
Girish Ahuja Member
Sanjay Grover Member
Preeti Malhotra (Ms.) Member
Pradeep K Mittal Member
Harish K Vaid Member
SECRETARIAL STANDARDS BOARD
S V Subramanian Chairman
Sanjeev Agrawal (Dr.) Member
K Narayanaswamy Member
S V Rama Krishna Member
G Raghu Babu Member
Sudhir Babu C Member
Sanjay Grover Member
G Hariharan Member
K S Ravichandran (Dr.) Member
S C Vasudeva Member
Nominee of MCA Member
V C Kothari, Nominee of ICWAI Member
Uttam Prakash Agarwal(Nominee ICAI) Member
Nominee of SEBI Member
EDITORIAL ADVISORY BOARD
S Balasubramanian Chairman
B A Agarwal (Dr.) Member
G P Agarwal Member
G R Bhatia Member
Renu Budhiraja (Ms.) Member
Dhan Raj Member
Delep Goswami Member
Sanjeev Kumar (Dr.) Member
Preeti Malhotra (Ms.) Member
Pradeep K Mittal Member
T V Narayanaswamy Member
R S Nigam (Prof.) Member
Vinod K Singhania (Dr.) Member
S K Verma (Dr.) (Mrs.) Member
Pavan Kumar Vijay Member
21
EXPERT ADVISORY BOARD
K R Chandratre (Dr.) Chairman
A Sivadasan Member
Mahesh Anant Athavale Member
Biswa Behari Chatterjee Member
Naina R Desai (Ms.) Member
Lalit Jain Member
U P Mathur Member
Jyotin Kantilal Mehta Member
Malathi Mohan (Ms.) Member
J Krishna Murthy Member
Rashida Hatim Adenwala (Ms.) Member
T V Narayanaswamy Member
T N Pandey Member
Savithri Parekh (Ms.) Member
K S Ravichandran (Dr.) Member
S V Subramanian Member
Pavan Kumar Vijay Member
BOARD OF DISCIPLINE
Pradeep K Mittal Presiding Officer
Sanjay Grover Member
N K Jain Member(Ex-Officio)
DISCIPLINARY COMMITTEE
Datla Hanumanta Raju Chairman
S K Agnihotri (IAS Retd.) Member
Keyoor Bakshi Member
Lalit Bhasin Member
S P Narang (Dr.) Member
QUALITY REVIEW BOARD
Bhagawat Swarup Chairman
Keyoor Bakshi Member
Rakesh Chandra Member
Ravi Kastia Member
Harish K Vaid Member
22
* Sh. Ashok Chandra has since resigned from the Council of the Institute in January 2009
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24
APPENDIX 'C'
LIST OF EXAMINATION CENTRES DURING THE YEAR 2008-09
1. Agra 36. Kolkata (North)
2. Ahmedabad 37. Kolkata (South)
3. Ajmer 38. Lucknow
4. Allahabad 39. Ludhiana
5. Ambala 40. Madurai
6. Aurangabad 41. Mangalore
7. Bangalore 42. Meerut
8. Bareilly 43. Mumbai (CG)
9. Bhilwara 44. Mumbai (GKT)
10. Bhopal 45. Mumbai (JOG)
11. Bhubaneswar 46. Mysore
12 Calicut 47. Nagpur
13. Chandigarh 48. Nashik
14. Chennai (South) 49. Noida
15. Chennai (West) 50. Panaji
16. Coimbatore 51. Patna
17. Dehradun 52. Puducherry
18. Delhi (East) 53. Pune
19. Delhi (North) 54. Raipur
20. Delhi (South) 55. Rajkot
21. Delhi (West) 56. Ranchi
22. Ernakulam 57. Shimla
23. Faridabad 58. Srinagar
24. Ghaziabad 59. Surat
25. Gurgaon 60. Thane
26. Guwahati 61. Thiruvananthapuram
27. Hubli-Dharwad 62. Tiruchirapalli
28. Hyderabad 63. Udaipur
29. Indore 64. Vadodara
30. Jaipur 65. Varanasi
31. Jammu 66. Vijayawada
32. Jamshedpur 67. Visakhapatnam
33. Jodhpur 68. Yamuna Nagar
34. Kanpur 69. Overseas Centre–Dubai
35. Kolhapur
STATISTICS ON EXAMINATION RESULTS
JUNE, 2008 SESSION
APPENDIX 'D'
STAGE OF NUMBER OF CANDIDATES
EXAMINATION ENROLLED APPEARED PASSED
FOUNDATION 4459 3836 2089
INTERMEDIATE *
GROUP - I 9839 7965 3959
GROUP – II 7982 6514 3087
FINAL #
GROUP - I 3718 3184 1919
GROUP – II 3520 2967 1913
GROUP – III 3829 3237 2239
* 2864 Candidates appeared for Intermediate Both Groups out of whom 1082 Candidates passed Both Groups.
# 1497 Candidates appeared for Final All Groups out of whom 677 Candidates passed All Groups.
STAGE OF NUMBER OF CANDIDATES
EXAMINATION ENROLLED APPEARED PASSED
FOUNDATION 5322 4837 3256PROGRAMME
FOUNDATION 575 469 270
EXECUTIVE PROGRAMME *
MODULE - I 9886 8161 4203
MODULE – II 8138 6517 3316
INTERMEDIATE**
GROUP - I 2281 1785 564
GROUP – II 3023 2449 1001
FINAL#
GROUP - I 4905 4247 2241
GROUP - II 4572 3891 1717
GROUP - III 4641 3973 1786
* 3721 Candidates appeared for Executive Programme Both Modules out of whom 1587 Candidates passed Both Modules .
** 650 Candidates appeared for Intermediate Both Groups out of whom 110 Candidates passed Both Groups .
# 2066 Candidates appeared for Final All Groups out of whom 735 Candidates passed All Groups.
DECEMBER, 2008 SESSION
25
APPENDIX 'E'
26
DECEMBER, 2008 SESSION
JUNE, 2008 SESSION
POST MEMBERSHIP QUALIFICATION (PMQ) in 'CORPORATE GOVERNANCE'
EXAMINATION RESULTS
* 3 Candidates appeared in Both Groups of PMQ Examination out of whom 2 Candidates passed Both Groups
PMQ NUMBER OF CANDIDATES
ENROLLED APPEARED PASSED
GROUP - I 9 9 6
GROUP – II 5 3 2
EXAMINATION*
* 1 Candidate appeared and passed in Both Groups of PMQ Examination
PMQ NUMBER OF CANDIDATES
ENROLLED APPEARED PASSED
GROUP - I 5 4 1
GROUP – II 7 5 4
EXAMINATION*
st1. We have audited the attached Balance Sheet of The Institute of Company Secretaries of India as at 31 March, 2009 and also the
Income & Expenditure Account annexed thereto for the year ended on that date. The accounts of the Institute's Centre for Corporate
Research and Training (CCRT), Navi Mumbai, four Regional Offices and their 69 Chapters have been audited by other Auditors and
that their reports have been incorporated and duly considered while preparing our Report.
These financial statements are the responsibility of Institute's Management. Our responsibility is to express opinion on these
financial statements based on our audit.
2. We conducted our audit in accordance with Auditing Standards generally accepted in India. Those Standards require that we plan and
perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit
includes examining, on a test basis, evidence supporting the amounts and disclosures in the Financial Statements. An audit also
includes, assessing the accounting principles used, significant estimates made by the Management as well as evaluating the overall
financial statement presentation. We believe that our audit provides a reasonable basis of our opinion.
3. Attention is invited to the facts stated in the following paragraphs:-
(i) As referred to in Note No. 7 in Schedule 21, Reconciliation of Inter-Unit accounts between Head Quarters and Regional Offices as
well as Chapters, which include transactions relating to various grants given by Headquarters, on account of publications stock,
reimbursement of expenses, building and other reserves, etc over the years is still in progress as such the effect of the same on
the account on due reconciliation/adjustment thereof cannot be indicated at this stage.st(ii) As referred to in Note No. 8 (a) in Schedule 21 Fixed Assets of 8 Chapters having a written down value of Rs. 4,22,821 at 31
March, 2009 have been incorporated in the Fixed Assets schedule as details of original cost and accumulated depreciation
provided till date are not available for restatement of the figures of Gross Cost of such assets. Effect of such amounts on the
accounts on due restatement/adjustment thereof, in Management's view, would not be material.
4. Further to our comments referred to in paragraphs 1 to 3 above, we report that:
(a) We have obtained all the information and explanations which to the best of our knowledge and belief were necessary for the
purpose of our audit;
(b) The Balance Sheet and the Income and Expenditure Account dealt with by this Report are in agreement with the books of account;
(c) In our opinion, the Balance Sheet and the Income and Expenditure Account dealt with by this Report comply with the accounting
standards to the extent they are applicable.
(d) Subject to items contained in Paragraph (3) (i) and (ii) above to which attention have been drawn and the consequential effect of
adjustment on the value of assets, liabilities, the quantum of income and expenditure and their effect on the surplus for the year
(which are unascertainable), in our opinion and to the best of our information and according to the explanations given to us, the
said accounts read together with the Accounting Policies and Notes thereon, give a true and fair view in conformity with the
accounting principles generally accepted in India;st(i) in the case of the Balance Sheet, of the state of affairs of the Institute as at 31 March, 2009; and
(ii) in the case of the Income and Expenditure Account, of the surplus of the Institute for the year ended on that date.
For Thakur, Vaidyanath Aiyar & Co.Chartered Accountants
Place : New DelhiDate : 28th August, 2009
(M. P. Thakur)Partner
M. No. 052473
27
THAKUR, VAIDYANATH AIYAR & CO.Chartered AccountantsNew Delhi, Mumbai, Kolkata, Chennai,Patna, Hyderabad and Chandigarh
221-223, Deen Dayal MargNew Delhi - 110 002
Phones : 011-23236958-60-23237772Fax : 011-23230831
E-mail : [email protected], [email protected]
THE INSTITUTE OF COMPANY SECRETARIES OF INDIABALANCE SHEET AS AT 31st MARCH 2009 (In Rupees)
PARTICULARS SCHEDULE As at As at 31st March 2009 31st March 2008
SOURCES OF FUNDS
Capital Reserve 1 12,450,070 9,797,070
General Reserve 2 621,326,973 386,769,379
ICSI National Award for Excellence in
Corporate Governance Fund 3 20,283,070 10,000,000
Staff Training Fund 4 12,207,113 11,632,083
Leave Encasment Fund 5 31,572,399 20,545,256
ICSI Student Education Fund 6 7,695,000 2,500,000
Endowment for Prize Award Fund 7 1,245,810 -
Employees' Compensation Reserve 8 25,990,843 50,000,000
Performance Related Incentive Fund 9 1,000,000 -
TOTAL 733,771,278 491,243,788
APPLICATION OF FUNDS
Fixed Assets 10
Gross Block 276,647,073 244,680,233
Less : Depreciation and Amortisation 114,569,953 110,542,309
Net Block 162,077,120 134,137,924
Add : Capital Work in Progress 17,169,104 9,588,303
179,246,224 143,726,227
Investments 11 277,287,474 208,773,185
Current Assets, Loans and Advances
Current Assets 12
Stocks in hand 2,563,535 1,403,206
Sundry Debtors 2,938,606 2,396,797
Cash and Bank Balances 381,479,323 203,612,379
Other Current Assets 23,101,051 30,872,202
Loans and Advances 13 16,928,434 7,801,807
427,010,949 246,086,391
Less : Current Liabilities and Provisions 14
Current Liabilities 148,211,258 105,024,416
Provisions 1,562,111 2,317,599
Net Current Assets 277,237,580 138,744,376
TOTAL 733,771,278 491,243,788
28
ACCOUNTING POLICIES AND NOTES TO ACCOUNTS 21
Schedules referred to above form an integral part of the Balance Sheet.
As per our report of even date attached
S K Arora N K Jain Vinayak S Khanvalkar D Hanumanta Raju
For THAKUR, VAIDYANATH AIYAR & CO. Director (F & A) Secretary & CEO Vice-President President
Chartered Accountants
Council Members (in alphabetical order)
Anil Murarka B Narasimhan B B Chatterjee
Keyoor Bakshi Milind B Kasodekar Pradeep K Mittal
Prithvi Haldea R Sridharan Sudhir C Babu
S R Bansal
(M P Thakur) PartnerMembership No. 052473
Place : New DelhiDated : 28.08.2009
29
THE INSTITUTE OF COMPANY SECRETARIES OF INDIA INCOME & EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31st MARCH 2009 (In Rupees)
PARTICULARS SCHEDULE For the year ended
31st March 2009 31st March 2008
INCOME
Fees 15 437,754,688 259,545,996
Sale of Publications 24,913,255 10,444,230
Interest on Investments 37,447,074 28,054,733
(net of allocation to earmarked fund Rs.35,74,100; PY Rs.25,87,000 and
including Tax deducted at source Rs.4,43,210; PY Rs.1,84,568)
Programmes / Seminars 58,516,638 41,030,784
(including Tax deducted at source Rs.1,36,279; PY Rs.1,69,510)
Other Income 16 14,291,250 11,504,033
TOTAL 572,922,905 350,579,776
EXPENDITURE
Establishment 17 104,533,547 69,453,135
Postal and Oral Tuition 44,682,351 30,335,805
Publications 7,945,378 2,585,029
Stationery 5,142,025 4,201,477
Journal and Bulletins 14,048,228 12,049,882
Examinations 22,246,673 15,101,793
Communication 18 8,653,636 7,542,727
Travelling and Conveyance 6,531,221 5,443,833
Professional Development Programmes 42,016,275 30,557,439
Career Awareness and Promotion 19,123,235 13,038,930
Others 19 26,916,858 25,464,334
Scientific Research Activities 20 30,096,055 20,249,555
Depreciation 12,069,137 12,623,582
Contribution/Appropriation to Trusts /Funds
(Refer Policy No. 8, Schedule 21)
ICSI Student Education Fund 5,000,000 2,500,000
C G Award Fund 10,000,000 5,551,010
ICSI Employees Hospitalisation Trust 1,500,000 550,000
C S Benevolent Fund 5,000,000 1,575,000
ICSI Employees Benevolent Fund 1,500,000 550,000
Performance Related Incentive Fund 1,000,000 -
368,004,619 259,373,531
Excess of Income over Expenditure 204,918,286 91,206,245
Add : Transfer from Employees' Compensation Reserve 24,009,157 -
Less : Appropriation towards Employees' Compensation Reserve - 50,000,000
Less : Appropriation towards Building Reserve 400,000 -
Balance Transferred to General Reserve 228,527,443 41,206,245
TOTAL 572,922,905 350,579,776
ACCOUNTING POLICIES AND NOTES TO ACCOUNTS 21
Schedules referred to above form an integral part of the Balance Sheet.
As per our report of even date attached
S K Arora N K Jain Vinayak S Khanvalkar D Hanumanta Raju
For THAKUR, VAIDYANATH AIYAR & CO. Director (F & A) Secretary & CEO Vice-President President
Chartered Accountants
Council Members (in alphabetical order)
Anil Murarka B Narasimhan B B Chatterjee
Keyoor Bakshi Milind B Kasodekar Pradeep K Mittal
Prithvi Haldea R Sridharan Sudhir C Babu
S R Bansal
(M P Thakur) PartnerMembership No. 052473
Place : New DelhiDated : 28.08.2009
ICSI NATIONAL AWARD FOR EXCELLENCE IN CORPORATE GOVERNANCE FUND SCHEDULE 3
PARTICULARS As at 31st March 2009 As at 31st March 2008
As per last Balance Sheet 10,000,000 4,638,186 Add : Contribution during the year 10,000,000 5,551,010
: Receipts during the year 495,000 1,910,000 : Interest on Investment of Rs. 100.00 lacs @ 8% p.a. GOI Bonds (Against amount earmarked in Schedule 11) 800,000 370,000
11,295,000 7,831,010
Less: Amount utilised during the year 1,011,930 10,283,070 2,469,196 5,361,814
TOTAL 20,283,070 10,000,000
GENERAL RESERVE SCHEDULE 2
PARTICULARS As at 31st March 2009 As at 31st March 2008
As per last Balance Sheet 386,769,379 351,242,230
Less : Adjusted against Loan to Regional Councils and Chapters 564,417 387,333,796 10,241,679 341,000,551
Other Adjustments (Refer Note No. 7(a) of Schedule 21) 5,465,734 4,562,583
Surplus for the year transferred from Income & Expenditure Account 228,527,443 41,206,245
TOTAL 621,326,973 386,769,379
CAPITAL RESERVE SCHEDULE 1
PARTICULARS As at 31st March 2009 As at 31st March 2008
As per last Balance Sheet 9,797,070 7,869,570
Add: Entrance Fees - Associate Members 2,385,000 1,678,500
- Fellow Members 268,000 2,653,000 249,000 1,927,500
TOTAL 12,450,070 9,797,070
30
PARTICULARS As at 31st March 2009 As at 31st March 2008
As per last Balance Sheet 2,500,000 -
Add : Contribution during the year 5,000,000 2,500,000
: Interest on Investment of Rs. 25.00 lacs @8% p.a. GOI Bonds (Amount earmarked in Schedule 11) 200,000 -
7,700,000 2,500,000
Less : Amount utilised during the year 5,000 -
TOTAL 7,695,000 2,500,000
ICSI STUDENT EDUCATION FUND SCHEDULE 6
PARTICULARS As at 31st March 2009 As at 31st March 2008
As per last Balance Sheet 20,545,256 16,468,650
Add : Contribution during the year 10,358,519 4,860,087
: Interest on Investment of Rs. 205.45 lacs @ 8% p.a. GOI Bonds (Amount earmarked in Schedule 11) 1,643,600 1,317,000
12,002,119 6,177,087
Less: Amount utilised during the year 974,976 11,027,143 2,100,481 4,076,606
TOTAL 31,572,399 20,545,256
LEAVE ENCASHMENT FUND SCHEDULE 5
STAFF TRAINING FUND SCHEDULE 4
PARTICULARS As at 31st March 2009 As at 31st March 2008
As per last Balance Sheet 11,632,083 11,244,929
Add : Interest on Investment of Rs.116.32 lacs @ 8% p.a. GOI Bonds (Amount earmarked in Schedule 11) 930,500 900,000
930,500 900,000
Less: Amount utilised during the year 355,470 575,030 512,846 387,154
TOTAL 12,207,113 11,632,083
31
PARTICULARS As at 31st March 2009 As at 31st March 2008
Amount transferred from Liabilities for - Endowment for Prize Awards 1,359,255
Add : Amount received during the year 247,775 -
: Interest earned on Investments 133,828 -
1,740,858 -
Less : Amount utilised during the year 495,048 -
TOTAL 1,245,810 -
ENDOWMENT FOR PRIZE AWARD FUND SCHEDULE 7
PARTICULARS As at 31st March 2009 As at 31st March 2008
As per last Account 50,000,000 -
Add : Amount transferred from Income & Expenditure A/c - 50,000,000
50,000,000 50,000,000
Less : Amount utilised during the year transferred to Income & Expenditure A/c (Refer Note No. 5 of Schedule 21) 24,009,157 -
TOTAL 25,990,843 50,000,000
EMPLOYEES COMPENSATION RESERVE SCHEDULE 8
PARTICULARS As at 31st March 2009 As at 31st March 2008
As per last Balance Sheet - -
Add : Contribution during the year 1,000,000 -
1,000,000 -
Less : Amount utilised during the year transferred to Income & Expenditure A/c - -
TOTAL 1,000,000 -
PERFORMANCE RELATED INCENTIVE FUND SCHEDULE 9
32
SC
HED
ULE
10
SC
HED
ULE
OF
FIX
ED A
SS
ETS
(x)
Incl
udes
WD
V in
pla
ce o
f G
ross
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ck in
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pect
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8 C
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ref
er N
ote
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(a)
of S
ched
ule
21.
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old
Land
incl
udes
Rs.
2,92
,149
for
land
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er P
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ence
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amor
tizat
ion
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been
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epre
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/ A
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incl
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ic R
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eads
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(PY
Rs.
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is o
n ac
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t of
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at L
odi R
oad
and
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t A
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ons
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elet
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To
tal C
ost
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l Fo
r th
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elet
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on
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on
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. I
T E
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as o
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on
as
on
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31
.3.2
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31.3
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9
1.
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31.3
.200
91.
4.20
08
31.3
.200
9
(X
)(X
)
1. L
AN
D :
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HO
LD
10,
387,
072
-
-
1
0,38
7,07
2
-
-
-
-
1
0,38
7,07
2
-
: L
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5,94
2,88
9
-
-
5,
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889
-
1,8
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-
1,
879,
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1
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9,96
1
2. B
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122
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,387
5,4
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1
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1
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1,98
0
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-
47,
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7
9,58
9,21
0
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3. F
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ES
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48,
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6,91
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ATIO
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152
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547
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0
1,
538,
165
315
,149
5,8
50
1,84
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1
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1,
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721
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AR
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7,75
1
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1,
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2,03
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6
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4
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7
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-
1,28
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2
378
,479
46,
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-
425,
359
8
58,2
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1
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25
245
,519
,873
4
2,76
8,36
6 1
1,35
5,18
1 2
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98,0
58
107
,720
,319
1
3,87
8,30
5 6
,959
,068
1
14,6
39,5
56
162
,258
,502
1
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41,6
58
A
djus
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t /S
uspe
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A/c
(
839,
640)
-
-
2,
821,
990
-
-
-
-
To
tal
244
,680
,233
4
2,76
8,36
6 1
1,35
5,18
1 2
76,8
98,0
58
110
,542
,309
1
3,87
8,30
5 6
,959
,068
1
14,6
39,5
56
162
,258
,502
1
34,1
41,6
58
M
emor
andu
m E
ntrie
s
-
-
-
(
250,
985)
-
(
69,6
03)
-
(69
,603
)
(181
,382
)(3
,734
)
C
urre
nt Y
ear
Tota
l
244
,680
,233
4
2,76
8,36
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11,
355,
181
27
6,64
7,07
3 1
10,5
42,3
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13
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,702
6,95
9,06
8 1
14,5
69,9
53
162
,077
,120
134,
137,
924
P
revi
ous
Year
Tot
al
225
,203
,504
2
1,32
7,68
6**
1,85
0,95
7
244,
680,
233
9
8,04
9,63
7
14,1
02,0
68
1,
609,
396
110
,542
,309
1
34,1
37,9
24
XX
X
11.
Cap
ital W
ork-
in-P
rogr
ess
(i
nclu
ding
Adv
ance
s)
(a)
Com
pute
r
74
,374
1
40,0
70
214
,444
-
(b)
Bui
ldin
g un
der
Con
stru
ctio
n
9,
513,
929
26,
546,
381
22,
651,
206
1
3,40
9,10
4
(c)
Inta
ngib
le A
sset
s
-
3
,760
,000
-
3,
760,
000
(C
ompu
ter
Sof
twar
e)
C
urre
nt Y
ear
Tota
l
9
,588
,303
3
0,44
6,45
1 2
2,86
5,65
0
17,
169,
104
P
revi
ous
Year
Tot
al
5,7
46,3
34
17,
272,
721
13,
430,
752
9,58
8,30
3
33
34
PARTICULARS DATE OF AS ON ADDITIONS DELETIONS AS ON
MATURITY 01.04.2008 31.03.2009
(A) FIXED DEPOSITS
i) Housing and Urban Development Corporation
10.50% 06.07.2008 5,000,000 - 5,000,000 -
10.50% 27.09.2008 2,000,000 - 2,000,000 -
10.50% 10.10.2008 5,000,000 - 5,000,000 -
10.50% 10.10.2009 - 10,000,000 - 10,000,000
9.25% 05.10.2010 4,000,000 - - 4,000,000
8.50% 06.10.2011 10,000,000 - 10,000,000 -
8.50% 23.11.2011 15,000,000 - 15,000,000 -
8.75% 03.12.2012 28,000 - - 28,000
ii) Industrial Development Bank of India
9.50% 22.10.2012 to
10.11.2012 23,500,000 - - 23,500,000
9.00% 13.11.2012 2,000,000 - 2,000,000 -
10.60% 13.11.2010 - 17,869,051 - 17,869,051
iii) Others
9% Tamilnadu Power Finance & Infrastructure Dev. Corpn. Ltd. 3.8.2008 200,000 - 200,000 -
9.70% ICICI Home Finance - 150,000 - 150,000
7.50 & 8.00% Tamilnad Transport Development Finance
Corporation Ltd. 158,494 116,129 140,000 134,623
Total (A) 66,886,494 28,135,180 39,340,000 55,681,674
(B) BONDS
i) Govt. of India Savings (8%) Taxable Bonds
a) Cumulative (Half -yearly) 19.05.2009 to
19.09.2009 7,000,000 - - 7,000,000
07.10.2009 to
29.12.2009 18,462,000 - - 18,462,000
05.03.2011 50,000 - 50,000
07.12.2011 2,000,000 - - 2,000,000
18.7.03 to 18.7.09 800,000 - - 800,000
22.11.04 to 22.11.10 4,200,000 - - 4,200,000
25.11.05 to 25.11.11 800,000 - - 800,000
9.5.06 to 9.5.12 1,000,000 - - 1,000,000
b) Non-Cumulative (Half -yearly) 15.10.2009 to
27.12.2010 32,000,000 - - 32,000,000
18.09.2010 to
09.12.2010 41,000,000 - - 41,000,000
11-19.10.2011 12,500,000 - - 12,500,000
ii) Housing and Urban Development Corporation Ltd. 15.11.2006 to
8 ( PY 8) Bonds @ 8.75% of Rs. 10 Lacs each 15.11.2011 8,000,000 - - 8,000,000
iii) ICICI Bank Ltd.
378 (PY Nil) Bonds @ 9.85% of Rs.10,000 each 10.02.2013 3,780,000 - - 3,780,000
iv) Power Finance Corporation Ltd.
9 (PY 'Nil') Bonds @ 11.10% of Rs.10 lacs each 28.09.2017 - 9,000,000 - 9,000,000
v) Rural Electrification Corporation Ltd.
10 (PY 10) Bonds @ 9.85% of Rs.10 lacs each 28.09.2017 10,000,000 - - 10,000,000
Total (B) 141,592,000 9,000,000 - 150,592,000
(C) MUTUAL FUNDS
18928 (PY 30) Units of UTI Liquid Fund 37,356 57,000,000 30,101,390 26,935,966
1268438 (PY 4698) Units of SBI Magnum Fund 80,825 34,600,000 10,603,501 24,077,324
10 lac Units (PY 'Nil') SBI Debt Fund Series - 10,000,000 - 10,000,000
10 lac Units (PY 'Nil') Canara Robeco MF Collections - 10,000,000 - 10,000,000
Total (C) 118,181 111,600,000 40,704,891 71,013,290
(D)UTI (6.75%) BONDS 176,000 - 176,000 -
(E) Shares with Satchidanand CHS Ltd.(51 Shares of Rs.10 each) 510 - - 510
GRAND TOTAL (A+B+C+D+E) 208,773,185 148,735,180 80,220,891 277,287,474
SCHEDULE 11INVESTMENT - AT COST
NAV of the Mutual Fund Units as at 31.3.2009 is Rs.734.48 lacs (PY 'not available').* includes Fixed Deposits/Bonds valued at Rs.12.46 lacs (PY Rs.13.59 lacs -Schedule 14) towards Endowments for Prize Award Fund (Refer to Schedule 7).# Includes Bonds valued at :(i) Rs.202.83 lacs (PY Rs.100.00 lacs) towards Corporate Governance Award Fund (Refer Schedule 3).(ii) Rs.122.07 lacs (PY Rs.116.32 lacs) towards Staff Training Fund (Refer Schedule 4).(iii) Rs.315.72 lacs (PY Rs.205.45 lacs) towards Leave Encashment Fund (Refer Schedule 5).
CURRENT ASSETS SCHEDULE 12
* Includes Rs.61,71,031 (PY Rs.52,950) under Linked Term Deposits.
** Includes Rs.1,20,000 (PY Rs.1,20,000) pledged with Canara Bank for Bank Gurantees issued in favour of Postal Authority .
PARTICULARS As at 31st March 2009 As at 31st March 2008
Stock (valued, taken and certified
by the Management)
Publications 1,924,587 94,947
Study Material 131,307 57,922
Others 507,641 2,563,535 1,250,337 1,403,206
Sundry Debtors
Outstanding for more than six months
- considered good 119,297 261,605
- considered doubtful 235,100 113,050
354,397 374,655
Others (considered good) 2,819,309 2,135,192
3,173,706 2,509,847
Less : Provision for Bad & Doubtful Debts 235,100 113,050
2,938,606 2,396,797
Cash and Bank Balances
Cash , Cheques/ Drafts/Postal Orders,
Postage Stamps/ Franking units 3,306,558 3,321,741
With Scheduled Banks
Savings Bank accounts * 62,908,603 43,556,263
Short/Long Term Deposits ** 294,075,570 147,034,673
360,290,731 193,912,677
Interest accrued on Term Deposits 21,188,592 381,479,323 9,699,702 203,612,379
Other Current Assets
Interest Accrued on Investments 22,954,665 30,117,674
Trusts 146,386 23,101,051 754,528 30,872,202
TOTAL 410,082,515 238,284,584
35
LOANS AND ADVANCES SCHEDULE 13
PARTICULARS As at 31st March 2009 As at 31st March 2008
LOANS
Regional Councils/Chapters for buildings 10,320,079 10,241,679
Less: Adjusted against General Reserve (10,320,079) - (10,241,679) -
ADVANCES
Employees (including interest accrued thereon
Rs. 6,56,743; PY Rs. 6,84,558) 2,028,233 2,127,671
Others : considered good 10,082,229 3,171,753
considered doubtful 175,114 175,114
10,257,343 3,346,867
Less: Provision for Bad & Doubtful Debts 175,114 175,114
10,082,229 3,171,753
Prepaid Expenses 904,333 798,863
Security Deposits (includes Rs. 'Nil' ;
PY Rs.2,284) with Post Office 3,913,639 1,703,520
TOTAL 16,928,434 7,801,807
* Contra against Rs.13,59,255; (PY Rs.13,44,255) in Schedule 11.
CURRENT LIABILITIES AND PROVISIONS SCHEDULE 14
PARTICULARS As at 31st March 2009 As at 31st March 2008
LIABILITIES
Received in Advance
- Student Registration Fee 68,898,286 43,268,238
- Others 5,339,350 74,237,636 5,548,077 48,816,315
Sundry Creditors 27,850,224 27,885,987
Expense Payable 21,065,408 17,028,086
Library Security Deposit 6,083,903 2,053,771
Benevolent Funds
- Company Secretaries 6,787,184 2,361,503
- Employees 1,588,885 8,376,069 558,447 2,919,950
Endowment for Prize Awards * - 1,359,255
Amount Payable to Fund /Trust 10,598,018 4,961,052
148,211,258 105,024,416
PROVISIONS
Property Tax 1,562,111 2,317,599
TOTAL 149,773,369 107,342,015
36
PARTICULARS For the year ended
31st March 2009 31st March 2008
PARTICULARS For the year ended
31st March 2009 31st March 2008
FEES FROM MEMBERS AND STUDENTS SCHEDULE 15
Members
Annual Fees 27,847,302 26,541,254
Other Fees 347,500 28,194,802 51,000 26,592,254
Licentiates 261,550 56,800
Students
Registration Fees 39,704,480 26,704,527
Exemption Fees 11,857,435 5,303,810
Postal Tuition Fees 238,827,209 115,185,090
Examination Fees 72,827,475 49,443,223
Others (including Tax deducted at source Rs.1,04,514; PY Rs.5,13,920) 12,879,014 13,271,851
Oral Tuition & Other Fees 33,202,723 409,298,336 22,988,441 232,896,942
TOTAL 437,754,688 259,545,996
OTHER INCOMES SCHEDULE 16
Dividend from Mutual Funds 1,660,366 263,218
Interest on Staff advances 143,292 97,213
Surplus on disposal of Assets 216,596 20,029
Royalty / Commission from Publications 109,675 288,292
Grant from MCA for Investor Awarness Programmes 2,000,000 2,640,000
Advisory Income 855,000 1,517,781
Miscellaneous 3,519,319 2,097,925
Incentive on Investments 18,000 197,788
Subscription to Journal/Bulletin and Advertisements 4,498,062 4,224,085
(including Tax deducted at source Rs. 4,983; PY Rs. NIL)
Provision no longer required, written back 1,270,940 157,702
TOTAL 14,291,250 11,504,033
37
PARTICULARS For the year ended
31st March 2009 31st March 2008
PARTICULARS For the year ended
31st March 2009 31st March 2008
ESTABLISHMENT SCHEDULE 17
Salaries and Allowances 87,474,929 59,357,802
Contribution to : Provident Fund 7,160,521 3,727,739
Gratuity Fund 4,546,413 2,091,844
Pension Fund 9,090,000 4,581,000
Leave Encashment 10,358,519 31,155,453 4,860,087 15,260,670
Staff Welfare 4,911,598 4,110,702
123,541,980 78,729,174
Less: Allocation to Scientific Research Activities 19,008,433 9,276,039
TOTAL (NET) 104,533,547 69,453,135
COMMUNICATION SCHEDULE 18
38
Postage and Courier 5,565,919 5,125,662
Telephone, Fax, E-mail, etc. 3,822,356 2,993,565
9,388,275 8,119,227
Less: Allocation to Scientific Research Activities 734,639 576,500
TOTAL (NET) 8,653,636 7,542,727
39
PARTICULARS For the year ended
31st March 2009 31st March 2008
OTHER EXPENSES SCHEDULE 19
Rent, Rates and Taxes 1,764,869 1,197,307
Electricity and Water 7,079,921 5,755,625
Insurance 163,975 153,655
Repairs and Maintenance
- Buildings 1,328,400 943,157
- Vehicles 162,688 238,045
- Others 3,002,155 4,493,243 2,402,361 3,583,563
Legal and Professional Charges 1,695,599 1,711,598
Office Expenses 3,769,505 3,660,817
Books & Periodicals 1,122,083 742,863
Computerisation
- Data Processing 1,106,902 641,618
- Software 1,485,487 2,592,389 2,517,719 3,159,337
Meetings 1,418,650 1,543,894
Packing and despatch 194,281 282,767
Loss on Sale/ Disposal of Assets 118,903 62,486
Bank Charges 81,491 78,793
Student Scholarships and Awards * 552,491
Bad Debts 81,456 80,702
Provision for doubtful Debts 122,050 -
Investor Awarness Programmes 2,183,628 2,942,207
Auditors' Remuneration
- Audit Fees
Head Office 137,875 134,952
Other Offices 269,844 407,719 187,177 322,129
- Other Services
Head Office - 35,753
Other Offices 258,551 258,551 - 35,753
Loss /Write off of Stocks 87,642 170,583
Miscellaneous 620,663 527,788
28,256,618 26,564,358
Less: Allocation to Scientific Research Activities 1,339,760 1,100,024
TOTAL (NET) 26,916,858 25,464,334
* Amount of Rs.4,95,048 transferred to the newly created "Endowment for Prize Award Fund" at Schedule 7
PARTICULARS For the year ended
31st March 2009 31st March 2008
SCIENTIFIC RESEARCH ACTIVITIES EXPENSES SCHEDULE 20
CCRT
Establishment 3,217,154 2,446,219
Books & Periodicals 90,805 72,765
Printing & Stationery 511,708 469,206
Communication 240,056 201,924
Travelling & Conveyance 229,789 133,052
Depreciation 1,739,568 1,473,817
Others 2,784,963 8,814,043 4,332,070 9,129,053
Allocation
Establishment * 19,008,433 9,276,039
Stationery 64,130 56,382
Communication * 734,639 576,500
Travelling and Conveyance 135,050 111,557
Others * 1,339,760 21,282,012 1,100,024 11,120,502
TOTAL 30,096,055 20,249,555
* excluded from the respective Schedules.
40
(A) ACCOUNTING POLICIES
1. Basis of Preparation of Financial statements
The Financial Statements have been drawn up on
historical cost convention and have been prepared in
accordance with applicable Accounting Standards
issued by the Institute of Chartered Accountants of
India and are on accrual basis unless otherwise stated.
2. Revenue Recognition
a. The Entrance Fee is collected at the time of
admission as an Associate Member or a Fellow
Member and is directly credited to “Capital
Reserve”.
b. Fees received from Members are accounted for on
cash basis. However, fees received in advance are
carried over as a liability.
c. Registration fees received from Students for
Executive and Foundation Programmes are spread
over a period of five years and three years
respectively since the benefit accrues to Students
over the stated period.
d. Other fees received from Students is accounted for
on cash basis.
e. Income from Investments
i) Dividend on Investments in unit is recognised
as Income on the basis of entitlement to
receive.
ii) Income on interest-bearing securities and
fixed deposits is recognized on a time
proportion basis taking in to account the
amount outstanding and the rates applicable.
f. Revenue Grants received from the Government is
recognised on receipt basis.
3. Investments
a. Long term Investments are carried at cost and
diminution in value, other than temporary, is
provided for.
b. Short term investments are carried at lower of
cost or fair value.
4. Fixed Assets/Depreciation and Amortisation
a. Fixed Assets excluding Land are stated at historical
cost less depreciation.
b. Freehold land is stated at cost. Leasehold land is
stated at the amount of premium paid for acquiring
the Lease rights. The premium paid on leasehold
land is amortized over the period of lease.
c. Depreciation is provided on the written down value
method at the following rates as approved by the
Council based on the useful life of the respective
assets.
Item %
Building 5
Furniture and Fixtures 10
Air conditioners/Coolers and other equipments 15
Vehicles 20
Computers 40
d. Depreciation on additions to Fixed assets is
provided from the month of addition on pro-rata
basis. No depreciation is charged in the year of
sale.
e. The cost of library books and periodicals are
charged to revenue in the year of purchase.
f. Fixed Assets costing Rs. 5000 or less are fully
depreciated.
5. Inventories
a. Stock of Stationery Items is valued at cost. The
cost is determined on FIFO basis.
b. Publications brought out by Regional Offices and
remaining on hand at the close of the year are
valued at cost based on FIFO basis.
c. Stock of Study Materials, Publications,
Journal/Bulletins, Audio Cassettes, Compact
Discs and other items are valued at nominal cost of
Re. 1 for items costing upto Rs. 50 and Rs.5 for
items costing above Rs. 50.
ACCOUNTING POLICIES AND NOTES TO ACCOUNTS
SCHEDULE 21
41
6. Employee Benefits
a. Contributions to Provident Fund Trust maintained
by the Institute are recognized as expenses.
b. Contribution to Gratuity Fund Trust and Pension
Fund Trust are made based on actuarial valuation
and recognized as an expense
c. Provision for leave encashment is made on the
basis of actuarial valuation.
7. Grants/Reimbursement of expenses and subsidy
on sale of publications to Regional Councils &
Chapters
Annual grants, reimbursements of expenses and
subsidy on sale of publications to the Regional
Councils and Chapters are accounted for on cash
basis.
8. Allocations / Transfer to Reserves and Surplus and
Earmarked Funds
a. Donation received during the year is directly taken
to General Reserve
b. Income from investments of earmarked funds is
directly credited to the respective earmarked
funds.
c. Allocation to ICSI Students Education Fund, ICSI
National Award for Corporate Governance, ICSI
Employees Medical Hospitalisation Trust,
Company Secretaries Benevolent Fund and ICSI
Employees Benevolent Fund, is made based on the
amount as approved by the Council from time to
time.
(B) NOTES TO ACCOUNTS
1. The Institute of Company Secretaries of India has been
granted exemption under section 10(23C)(Iv) of the
Income Tax Act 1961 upto the Assessment Year 2006-
07. Application for continuation of exemption moved
for the Assessment Year 2007-08 and onwards is
pending with Income Tax Department.
2. Contingent Liabilities – Claims against the Institute not
acknowledged as debts Rs. Nil (Previous Year Rs. Nil)
3. The Management is of the opinion that except the
assets written off during the year and the assets retired
from active use, there is no further impairment of
Assets as contemplated in Accounting Standard – 28
4. Estimated amount of contracts remaining to be
executed on capital account, net of advances, is
Rs. 89,79,755 (Previous Year 1,40,00,950)
5. The Institute has implemented the Revised Pay thStructure based on the 6 Pay Commission as per the
approval from the Council w.e.f. 1.1.2006.
Accordingly, a sum of Rs. 3,34,65,600 has been paid
during the financial year 2008-09 included in schedule
16 of which Rs. 2,40,09,157 being the arrears upto
31.3.2008 were utilized out of the 'Employees
Compensation Reserve' created during previous year.
6. Employee Benefits
The disclosure of 'Employee Benefits' as defined in the
Accounting Stadnard-15 are as under:-
Defined Contribution Plan
Employer's contribution to Defined Contribution Plan
such as Provident Fund is charged off during the
financial year. Employee's Provident Fund is
administered by 'ICSI Employee's Provident Fund Trust'.
Defined Benefit Plan
Gratuity
The Employer's Gratuity Fund Scheme managed by the
Life Insurance Corporation of India is a 'Defined Benefit
Plan'. The present value of obligation is determined on
actuarial valuation using Projected Unit Credit (P.U.C.)
method as defined in the Accounting Standard-15.
Leave Encashment
Provision of Liability for Leave Encashment has been
made on actuarial valuation using P.U.C. method and
investments amounting to Rs. 330.79 lacs (being
100%) has been earmarked by the Institute.
Pension
'Pension' is administered by a separate Trust named as
'ICSI Employees Pension Fund Trust' and the actuarial
valuation of Pension Benefit Plan liability has been
done on 31.3.2009 by following P.U.C. method in
terms of Accounting Standard – 15 and the pension
benefit plan liabilities is fully funded.
42
I. Reconciliation of Opening and Closing Balances of
Defined Benefit Obligations
Fig.: Rs. In Lacs
Gratuity Pension LeaveEncashment
Defined Benefit Obligation 266.76 464.63 205.45
at beginning of the year
Current Service Cost 49.28 21.34 22.81
Interest Cost 21.34 32.52 16.44
Actuarial (gain)/Loss (1.47) 75.47 80.77
Benefit paid (16.61) (23.55) (9.75)
Settlement Cost Nil Nil Nil
Defined Benefit Obligation 319.30 570.41 315.72
at the year end
II. Reconciliation of Opening and Closing Balances of Fair
Value of Plan Assets
Fig.: Rs. In Lacs
Gratuity Pension LeaveEncashment
Fair Value of Plan Assets at 266.76 464.63 205.45
the beginning of the year
Expected return on 23.69 38.43 16.44
Plan Assets
Benefit Paid (16.61) (23.55) (9.75)
Employer's contribution 45.46 Nil 103.58
Settlement Cost Nil Nil Nil
Fair Value of Plan Assets 319.30 479.51 315.72
at the end of the year
III. Reconciliation of Fair Value of Assets and Obligation
Fig.: Rs. In Lacs
Gratuity Pension LeaveEncashment
Fair Value of Plan Assets 319.30 479.51 315.72
Present Value of Obligation 319.30 570.41 315.72*
Amount to be recognized NIL 90.90 NIL
in the Balance Sheet
* Earmarked out of the total investment of the Institute
IV. Expenses recognized during the year for Gratuity,
Pension and Leave Encashment under the head th'Establishment' which is net of arrears related to 6 Pay
Commission.
Fig.: Rs. In Lacs
Gratuity Pension LeaveEncashment
Current Service Cost 49.28 21.34 22.80
Interest Cost 21.34 32.52 16.44
Expected Return on 23.69 38.43 -
Plan Assets
Actuarial (Gain)/Loss (1.47) 75.47 80.77
Net Cost 45.46 90.90 120.01**
** Difference between Employer's contribution and the net
cost is due to inclusion of cost related to arrears in the
current cost at the time of actuarial valuation, though it has
been paid out of Employees' Compensation Reserve
V. Funded Investment Details
Fig.: Rs. In Lacs
Gratuity Pension Leave Encashment
Insurance Policy Central and State Investments
and 100% with Government Securities, earmarked out of
LIC PSU Bonds, FD's with the total invest-
Housing Finance ments of the
Companies, Special organization.
Deposit Schemes and
Fixed Deposit with
Scheduled Banks.
VI. Actuarial Assumptions
Fig.: Rs. In Lacs
Gratuity Pension Leave Encashment
Mortality Table 1994-96 1994-96 1994-96
duly duly duly
modified modified modified
Discount 8% 7% 7%
Future Salary Increase 4% 5% 5%
43
7. Reconciliation of Accounts
(a) Reconciliation of Regional Councils and Chapters
Accounts with Headquarters which includes
transactions relating to various grants given by
Headquarters, on account of publications, stocks,
building reserves, contribution/expenses incurred
by the Chapter, etc. is in progress. Pending
completion of reconciliation and adjustment, the
net difference amounting to Rs. 54,65,734
(Previous Year Rs. 45,62,583) has been adjusted
against General Reserve for the purpose of
consolidated accounts.
(b) Reserve created at Regions / Chapters have been
clubbed under General Reserve in the consolidated
accounts.
8. Fixed Assets and Depreciation
(a) Fixed Assets of 8 Chapters ( Gurgaon, Bhopal,
Ghaziabad, Meerut, Srinagar, Surat, Thane &
Dombivli) having a written down value of stRs. 4,22,821 as at 31 March 2009 have been
incorporated in the fixed assets schedule as details
of original cost and accumulated depreciation
provided till date are not available to enable
restatement of the figures. Effect on the accounts
on due restatement / adjustment thereof, in
Management's view would not be material.
(b) The Institute has been providing depreciation on
written down value method for full year irrespective
of the date of additions till the financial year ended ston 31 March 2008. However, during the current
financial year depreciation has been provided from
the month of addition on pro-rata basis. Due to
above change in the policy of charging
depreciation, the current year's depreciation is
lower by Rs. 61,80,370 than the amount of
depreciation, if it would have been charged
following the earlier policy of charging
depreciation.
9. During the year, a new Fund called 'Performance
Related Incentive Fund' has been created.
10. Previous year's figure have been regrouped/
rearranged/recast wherever considered necessary to
make it comparable with those of the current year.
44
Schedules referred to above form an integral part of the Balance Sheet.
S K Arora N K Jain Vinayak S Khanvalkar D Hanumanta Raju
For THAKUR, VAIDYANATH AIYAR & CO. Director (F & A) Secretary & CEO Vice-President President
Chartered Accountants
Council Members (in alphabetical order)
Anil Murarka B Narasimhan B B Chatterjee
Keyoor Bakshi Milind B Kasodekar Pradeep K Mittal
Prithvi Haldea R Sridharan Sudhir C Babu
S R Bansal
(M P Thakur) PartnerMembership No. 052473
Place : New DelhiDated : 28.08.2009
(a) 'Secretary' in whole-time practice defined as member of the Institute in practice and not in full time employment [section 2(45A)].
(b) To make statutory declaration in Form 1 that all requirements of the Companies Act, 1956 and the rules made thereunder have been complied with in respect of registration of a company and matters precedent and incidental thereto [section 33(2)].
(c) To make a verified declaration in Forms 19, 20 and 20A of compliances for obtaining a certificate of commencement of business/ commencement of other business [section 149].
(d) To sign the annual return of listed company (section 161).
(e) To certify that requirements of Schedule XIII have been complied with as regards statutory guidelines for appointment of managerial personnel and payment of managerial remuneration to them without the approval of the Central Government [section 269(2) and Schedule XIII].
(f) To issue compliance cer tificate as to w h e t h e r a company has complied with all the provisions of the Companies Act, 1956, for Companies not required to employ a whole-time Secretary under sub-section (1) of section 383A and having paid-up share capital of ten lakh rupees or more [proviso to section 383A(1)].
(g) (i) A member of the Institute having atleast 15 years working experience as a Secretary in whole-time practice is eligible to be appointed as a Technical member of the National Company Law Tribunal [Section 10FD (3)(e)].
(ii) A Practising Company Secretary may be authorized by any person to present his or its case before the National Company Law Tribunal or National Company Law Appellate Tribunal [Section 10GD]
The Companies Act, 1956
15 June, 1988
15 June, 1988
15 June, 1988
15 June, 1988
15 June, 1988
13 December, 2000
To be effective from the date of commencement of the Companies (Second Amendment) Act, 2002, (i.e. from such dates as may be notified by the Central Government)
I. FOR A PRACTISING COMPANY SECRETARY
RECOGNITIONS SECURED FOR COMPANY SECRETARIES
1.
S.No. Statute / Authority Purpose When Obtained
I COMPANY LAW
45
(iii) A professional firm of Company Secretaries may be appointed as an Official Liquidator in respect of winding up of a company by the National Company Law Tribunal [Section 448(1)(a)].
Pre-certification of e-forms:1. Form No.2 2. Form No.3 3. Form No.5 4. Form No.10 5. Form No.17 6. Form No.18 7. Form No.23 8. Form No.23 AC9. Form No.23 ACA10. Form No.24AB 11. Form No.25C 12. Form No.32 Declaration:13. Form No.114. Form No.1915. Form No.2016. Form No.20A17. Form No.61
Pre-certification of e-form of application for approval for declaration of dividend out of reserves. [Pursuant to Section 205A (3)].
Pre-certification of e-form – Form 1 relating to statement of amounts credited to Investor Education and Protection Fund.
To certify form DIN-3(Form for sending of Director Identification Number intimation by the company to the Registrar)
In respect of section 25 Companies, to give a declaration to the effect that the Memorandum and Articles of Association have been drawn up in conformity with the provisions of the Companies Act and that all requirements of the Act and the Rules made thereunder have been duly complied with in respect of the registration or matters incidental or supplementary thereto [Regulation 4(ii)].
To act as authorised representative before the Company Law Board Benches.
Companies (Central Government's) General Rules and Forms (Amendment) Rules, 2006
Companies (Declaration of Dividend out of Reserves) Amendment Rules, 2006
Investor Education and Protection Fund (Awareness and Protection of Investors Amendment) Rules, 2006 (Rule 3)
Companies (Director Identification Number) Rules,2006 [Rule 6]
The Companies Regulations, 1956
Company Law Board 1 Regulations, 1991 [Reg. 19]
10 February, 2006
3 March, 2006
3 March, 2006
1 November, 2006
July, 1989
May, 1991
2.
3.
4.
5.
6.
7.
46
Extinguishment and physical destruction of the bought back share certificates to be done in the presence of a Company Secretary in whole-time practice within seven days from the date of acceptance of shares.
To certify compliance with these Rules including the provisions relating to extinguishment and destruction of share certificates.
In case of every issue of shares/ warrants/fully convertible debentures/ partly convertible debentures or other financial instruments with conversion option, to certify that the issue of the said instruments is being made in accordance with these Rules.
In case of every company that has allotted shares under these Rules, the Board of Directors shall at each annual general meeting place before the shareholders a certificate from Practising Company Secretary/ auditors of the company that sweat equity shares have been allotted in accordance with the resolution of the company in the general meeting and the Rules in this regard.
Certification under Form 7 [Rule 10]Certification under Form 11 [Rule 25]
To act as authorised representative before the Competition Commission of India and Competition Appellate Tribunal.
To act as authorized representative before the Central Electricity Regulatory Commission.
To act as authorized representative before the Gujarat Electricity Regulatory Commission.
To act as authorized representative before the Telecom Disputes Settlement and Appellate Tribunal.
6 July, 1999
4 December, 2003
4 December, 2003
1 April, 2009
31 March, 2003
August, 1999
July, 1999
March, 2000
8.
9.
10.
11.
12.
13.
14.
15.
Private Limited Company and Unlisted Public Limited Company (Buy-Back of Securities) Rules, 1999. (Rule 10)
Unlisted Public Companies (Preferential Allotment) Rules, 2003 [Rule 7]
Unlisted Companies (Issue of Sweat Equity Shares) Rules, 2003 [Rule 11]
Limited Liability Partnership Rules, 2009
Competition Act, 2002 [Section 35 & 53S)
Central Electricity Regulatory Commission (Miscellaneous Provisions) Order, 1999 (Clause 6)
Gujarat Electricity Regulatory Commission (Conduct of Business) Regulations, 1999 (Regulation 23)
The Telecom Regulatory Authority of India Act, 1997 (Section 17 and Explanation (b) thereto)
47
II CORPORATE AND ECONOMIC LAWS
To certify that the company has complied with all the requirements relating to registration fees, share capital, deposits and other requirements of the Insurance Regulatory and Development Authority Act, 1999.
Illustrative List of certificates which may be issued by a Company Secretary in Practice is given hereunder:
(i) to issue a certificate showing sales turnover of ammunition (indigenous and imported) during the preceding three licensing years [Annexure 5 to Appendix 8].
(ii) Certification in respect of Application for grant of Star Export House [Appendix – 17].
(iii) Certification in respect of application for grant of One to Five Star Export House for Service Provider [Appendix – 17A].
To act as authorized representative before the Board of Approval
To issue certificates for exchange control purposes. All certificates, which a Practising Chartered Accountant can issue as documentary evidence in support of certain applications, may also be issued by a Company Secretary in Whole-time Practice.
To certify under FDI Scheme on behalf of Indian Companies accepting investment
Qualified to be registered as a trade marks agent.
To appear as authorised representative before the Securities Appellate Tribunal
To appear as authorised representative before the Securities Appellate Tribunal
Certify non- promoter holdings as per clause 35 of Listing Agreement in demat mode in case of the Companies which have established connectivity with both the depositories.
July, 2000
Originally recognition received in April, 1991 under Exim Policy and continue under Foreign Trade Policy(2004 – 2009)
February, 2006
Original recognition received in 1992 under FERA. RBI clarified vide letter dated April 19, 2001, the recognition is valid under FEMA
30 May, 2008
15 September, 2003.
December, 1999
December, 1999
13 January, 2006
IRDA (Registration of Indian Insurance Companies) Regulations, 2000 (Regulation 10)
Foreign Trade Policy 2004-2009.
Special Economic Zones Rules, 2006(Rule 61)
Foreign Exchange Management Act, 1999 (FEMA)
Foreign Exchange Management (Transfer of Issue of Securities by a Person Resident Outside India)Regulations, 2008
The Trade Marks Rules, 2002 (Rules148-161)
The Securities and Exchange Board of India Act, 1992. [Section 15V, Explanation (b)]
The Depositories Act, 1996 [Section 23C, Explanation (b)]
SEBI - Circular No. MRD/DoP/SE/Cir-1/06
16.
17.
18.
19.
20.
21.
III
22.
23.
24.
48
SECURITIES LAWS AND CAPITAL MARKETS
To issue certificate of compliance of conditions of corporate governance.
To issue certificate regarding maintenance of adequate security cover in respect of listed debentures by either a Practising Company Secretary or a Practising Chartered Accountant, every quarter.
To issue certificate regarding compliance of conditions of Corporate Governance.
To issue certificate of compliance of conditions of Corporate Governance.
To issue quarterly certificate with regard to reconciliation of the total issued capital, listed capital and capital held by depositories in dematerialized form, details of changes in share capital during the quarter, and in-principle approval obtained by the issuer from all the stock exchanges where it is listed in respect of such further issued capital.
To conduct Internal Audit of Portfolio Managers.
To conduct internal Audit of Stock Brokers / Trading Members / Clearing Members
To issue Networth Certificate to be submitted by all active Members including representative Members of Cash segment, Limited Trading Members & Trading and/or Clearing Members of the Derivatives segment of the Bombay Stock Exchange.
Listing of new equity shares issued to the shareholders of the
company pursuant to the reduction of capital/BIFR order -- If
there are non-transferable shares in existence, a certificate
from Practising Company Secretary specifically certifying that
equity share certificates held by promoters, etc. have been
stamped “Not to be sold/ transferred/ hypothecated until …..”
(source: www.bseindia.com)
SEBI – Clause 49 of the Listing Agreement. (Circular No. SEBI/CFD/ DIL/ CG/1/ 2004/12/10 dated October 29, 2004).
Model Listing Agreement for Listing of Debt Securities. SEBI/CFD/DIL/CIR-39/2004/11/01
Model Listing Agreement for Listing of Debt Securities. SEBI/CFD/DIL/CIR-39/ 2004/11/01
Listing Agreement for Indian Depository Receipts (IDRs) SEBI/CFD/DIL/IDR/1/2006/3/4
SEBI (Depositories Participants) Regulations, 1996
SEBI' s Circular IMD/PMS/CIR/1/21727/03
SEBI's Circular MRD/DMS/CIR-29/2008
Bombay Stock Exchange Limited BSE Notice No. 20061031 - 21
Bombay Stock Exchange Limited
January , 2006
1 November, 2004
1 November, 2004
3 April, 2006
September, 2003.
18 November, 2003
21 October, 2008
31 October, 2006
25.
26.
27.
28.
29.
30.
31.
32.
33.
49
Details of directors/proprietor in format C-3 of Annual Return submitted by Trading Member to the Stock Exchange
Details of shareholding pattern/sharing pattern of corporates in format C-6 of Annual Return submitted by Trading Member to the Stock Exchange
Details of shareholding pattern/sharing pattern of firms in format C-6 of Annual Return submitted by Trading Member to the Stock Exchange.
Details of Dominant group of corporates in format C-7 of Annual Return submitted by Trading Member to the Stock Exchange.
Details of Dominant group of firms in format C-7 of Annual Return submitted by Trading Member to the Stock Exchange
Undertaking from Relative of Persons constituting Dominant Promoter Group in format C–8 of Annual Return submitted by Trading Member to the Stock Exchange
Undertaking from Corporates supporting Dominant Promoter Group in format C–8 of Annual Return submitted by Trading Member to the Stock Exchange
Grant of approval for listing under clause 24(a) of the Listing Agreement – Certificate from Practising Company Secretary confirming that the entire pre-preferential holding of the allottee (mentioning the quantity) is locked in for the period starting from relevant date up to a period of six months from the date of allotment (source: www.nseindia.com)
Grant of approval under clause 24(f) of the Listing Agreement (Amalgamation – Wholly Owned Subsidiary / other than Wholly Owned Subsidiary /Reduction of Capital under Section 100) – Certificate from Practising Company Secretary for Networth of the Company pre and post scheme under section 101, 391 and 394 of the Companies Act, 1956. (source: www.nseindia.com)
National Stock Exchange Limited (NSE Circular No.541, Ref. NSE/MEM/7835)
National Stock Exchange Limited (NSE Circular No.541 Ref. NSE/MEM/7835)
National Stock Exchange Limited (NSE Circular No.541 Ref. NSE/MEM/7835)
National Stock Exchange Limited (NSE Circular No.541 Ref. NSE/MEM/7835)
National Stock Exchange Limited (NSE Circular No.541 Ref. NSE/MEM/7835)
National Stock Exchange Limited (NSE Circular No.541, Ref. NSE/MEM/7835)
National Stock Exchange Limited (NSE Circular No.541, Ref. NSE/MEM/7835)
National Stock Exchange Limited
National Stock Exchange Limited
6 September, 2006
6 September, 2006
6 September, 2006
6 September, 2006
6 September, 2006
6 September, 2006
6 September, 2006
34.
35.
36.
37.
38.
39.
40.
41.
42.
50
Listing of shares arising out of Conversion of Debentures/Warrants/Notes/Bonds into Equity Shares – Certificate from Practising Company Secretary for receipt of money at the time of allotment of Convertible Debentures/Warrants/Notes, etc. (source: www.nseindia.com)
Listing of shares/securities issued on Preferential/Private Placement basis – Certificate from Practising Company Secretary for the following confirmations :
(a) The pricing of the issue along with the detailed working of the same
(b) The company has received the entire consideration
payable prior to the allotment of shares
(c) The total shares under lock-in (along with the dates of
lock-in and distinctive numbers) and additionally
confirming that the locked in equity shares if issued in
physical form have been enfaced with non
transferability condition
(d) The entire pre-preferential holding of the allottee
(mentioning the quantity) is locked in for the period
starting from relevant date upto a period of six
months from the date of allotment. (source:
www.nseindia.com)
Listing of shares/securities issued on Preferential/Private
Placement basis in case allotment under Section 81(3) of
Companies Act –A confirmation signed by the compliance
officer of the company duly counter confirmed by the
Practising Company Secretary confirming that the said
allotment has been made in accordance with the provisions
of section 81(3) of the Companies Act, 1956. (source:
www.nseindia.com)
Certificate from Practising Company Secretary confirming
securities under lock-in (the certificate should include the
distinctive numbers of securities under lock-in and date
from and upto which these shares are under lock-in)
(source: www.nseindia.com)
Conduct of Internal Audit of operations of the Depository
Participants, at intervals of not more than three months and
furnish a copy of the internal audit report to the depository.
Concurrent Audit in case of Demat Account opening, Control and Verification of Delivery Instruction Slips.
National Stock Exchange Limited
National Stock Exchange Limited
National Stock Exchange Limited
National Stock Exchange Limited
National Securities Depositories Limited (NSDL)
NSDL Circular No. NSDL/POLICY/2006/0021
March, 1999
June , 2006
43.
44.
45.
46.
47.
48.
51
(i) Conduct of Internal Audit of operations of the Depository Participants at such intervals as may be specified by CDS from time to time and furnish a copy of the internal audit report to CDS.
(ii) For empanelment by CDS as auditors for conduct of audit of the records of the participants in so far as the records and operations relate to CDS.
(i) To appear as authorized representative before the Securities Appellate Tribunal
(ii) Certificate to the effect that allotment has been made by the company on the basis approved by the Stock Exchange.
Inspection of books of accounts and other documents of Members of stock exchange required by guideline F. No. 1/4/SE/89 dated 29.1.1983.
- do -
Certification to the effect that RTA and/or In-house Share transfer facility of Listed Companies have issued all certificates within one month of the lodgement for transfer, sub-division, consolidation, renewal, exchange or endorsement of calls/ allotment monies. This certificate is to be issued within one month of the end of each half of the financial year.
-do-
-do-
-do-
Certificate to the effect that the RTA has completed all transfers within the stipulated time.
-do-
Central Depository Services (India) Limited (CDS)
(A) Securities Contracts (Regulation) Act, 1956; and Securities Contracts (Regulation) Rules, 1957 [Section 22C, Explanation (b)] (Guideline No. F1/8/SE/82 dt. 20.8.1982).
(B)(i) The Ahmedabad Share and Stock Brokers Association, Ahmedabad.
(ii) Uttar Pradesh Stock Exchange Association Ltd., Kanpur.
(iii) The Bombay Stock Exchange Ltd.
(iv) Pune Stock Exchange
(v) The Calcutta Stock Exchange
(vi) Uttar Pradesh Stock Exchange Association Limited (Kanpur)
(vii) Delhi Stock Exchange
(viii) Hyderabad Stock Exchange
September, 1999
December, 1999
August, 1982
March 1984
April, 1984
February, 1998
-do-
-do-
-do-
-do-
-do-
49.
50.
52
-do-
-do-
-do-
-do-
-do-
-do-
-do-
-do-
-do-
-do-
-do-
Verification and authentication of the declarations of the Managing Director of a Company when-
(1) the company intimates the stock exchange the forfeiture of its listed securities; or
(2) the company approaches the stock exchange for voluntary delisting of securities.
(ix) Bhubaneswar Stock Exchange Association Limited
(x) Stock Exchange, Ahmedabad
(xi) Cochin Stock Exchange
(xii) Coimbatore Stock Exchange
(xiii) Ludhiana Stock Exchange Association Limited
(xiv) Magadh Stock Exchange Association
(xv) Madhya Pradesh Stock Exchange
(xvi) National Stock Exchange
(xvii) Bangalore Stock Exchange
(xviii) Madras Stock Exchange
(xix) Udaipur StockExchange
(xx) The Stock Exchange,Ahmedabad
-do-
-do-
-do-
-do-
-do-
-do-
-do-
-do-
-do-
-do-
-do-
May, 1999
53
To act as authorised representative before the Income-tax authorities.
Recognised for registering as a valuer of stocks, shares, debentures, etc.
To act as authorised representative before the Customs, Excise and Service Tax Appellate Tribunal and other authorities.
To appear before Custom Authorities.
Authorized to appear before Appellate and Revisional Board, the Commissioner, the Special Commissioner, the Additional Commissioner or any person appointed to assist the Commissioner on behalf of a dealer [Rule 2 (1)(a)(iv)].
Authorised to appear before VAT authorities appointed under Section 10 or the Tribunal or an Officer of the Bureau of Investigation constituted under Section 86 of the Act [Section 87(d)].
Authorised to appear before any VAT authority in connection with any proceedings under this Regulation. [Regulation 82(1)(b)].
Authorised to appear before any VAT authority including the Tribunal in connection with any proceedings under this Act [Section 82(1)(b)].
Authorised to appear before VAT Authorities in connection with any proceedings under this Act [Section 81(1) (c) read with Rule 59 (1) (a)]
Authorised to appear before any Authority other than the High Court in connection with any proceeding under this Act [Section 86 (c) read with Rule 168(2)( c) (iv)(b) ].
July, 1979
8 October, 1974
October, 1982
October, 1982
April, 2005
April, 2005
April, 2005
April, 2005
January 2005
April,2005
IV
51.
52.
53.
54.
55.
56.
57.
58.
59.
60.
TAXATION
Income-tax Act, 1961 and Income-tax Rules, 1962 [section 288(2) and Rule 50(2A)]
Wealth-tax Rules, 1957[Rule 8A(7)(i)]
Central Excise Act, 1944, [section 35Q] and Rule 12(c) of Central Excise (Appeals) Rules 2001
Customs Act, 1962 and Customs (Appeals) Rules, 1982 [section 146A and Rule 9(C)].
West Bengal Value Added Tax Rules, 2005
Bihar Value Added Tax Act, 2005
Daman and Diu Value Added Tax Regulation, 2005
Goa Value Added Tax Act, 2005
Gujarat Gujarat Value Added Tax Act, 2003 read with Gujarat Value Added Tax Rules, 2005.
Karnataka Value Added Tax Act, 2003 read with Karnataka Value Added Tax Rules, 2005
54
To appear and attend before any authority in connection with any proceedings under this
Act [Section 83 (1)(c) read with Rule 78(1) (a)].
Certification with regard to the following:
(a) Necessary powers of a company and its directors to enter into an agreement.
(b) Borrowing limits of a company under section 293(1)(d) of the Companies Act, 1956, including details of share capital, authorised, issued, subscribed and paid-up, and the actual borrowing.
(c) List of Members of a company.
(d) Copies of resolutions passed at company meetings to be furnished to financial institutions.
- do - (a) to (d)
Certification of documents relating to charges.
Diligence Report for Banks
Status/Search Reports for banks
Certification of documents relating to charges.
-do-
-do-
-do-
2005
July, 1981December ,1981July,1983
January, 1986
April, 1991
September 19, 2008
April, 1983
December, 1990
February, 1991
February, 1991
February, 1991
61.
V
62.
VI
63.
64.
65.
Arunachal Pradesh Goods Tax Act, 2005 read with Arunachal Pradesh Goods Tax Rules, 2005
FINANCIAL INSTITUTIONS
All India Financial Institutions
(i) Industrial Development Bank of India
(ii) Industrial Finance Corporation of India
(iii) Industrial Credit and Investment Corporation of India
(iv) Unit Trust of India(v) Life Insurance
Corporation of India(vi) General Insurance
Corporation of India(vii) Industrial
Reconstruction Bank of India
(viii) Industrial Develop-ment Bank of India
BANKS
Reserve Bank of India Circular DBOD No.BP.PC.46/08.12.001/2008-09
Indian Banks Association (Circular No. SO/69-73-III-C-82/9565 dated 15.4.1983 and Circular no. SO/69-73-C-86/4763 dated 16.6.1986).
(i) Indian Bank
(ii) Bank of India
(iii) Andhra Bank (Eastern Region)
(iv) Canara Bank
55
56
March, 1991
March, 1991
July, 1991
August, 1991
September, 1991
September, 1991
October, 1991
October, 1991
February, 1992
April, 1992
June, 1992
July, 1982
August, 1982
April, 1984
(v) United Bank of India
(vi) Vijaya Bank
2(vii) Bank of Baroda
(viii) Corporation Bank
2(ix) State Bank of India
(x) Bharat Overseas Bank
(xi) State Bank of Mysore
(xii) Indian Overseas Bank
2(xiii) State Bank of Indore
(xiv) State Bank of Travancore
(xv) Laxmi Vilas Bank Ltd.
STATE LEVEL AGENCIES
State Financial/Industrial Investment/ Dev. Corpn.;
(i) Himachal Pradesh Financial Corporation, Shimla
(ii) West Bengal Financial
2Corporation , Calcutta
(iii) Maharashtra State Financial Corporation, Mumbai
VII
66.
-do-
-do-
-do-
-do-
-do-
-do-
-do-
-do-
-do-
-do-
A. Certification with regard to the following:
(a) Necessary powers of a company and its directors toenter into an agreement
(b) Borrowing limits of a company under section 293(1) (d) of the Companies Act, 1956, including details of share capital, authorised, issued, subscribed and paid-up and the actual borrowing.
-do-
-do-
-do-
(a) Necessary powers of a company and its directors to enter into an agreement.
(b) Borrowing limits of a company under section 293(1)(d) of the Companies Act, 1956, including details of share capital, authorised, issued, subscribed and paid-up and the actual borrowing.
(c) List of Members of a company.
(d) Copies of resolutions passed at company meetings to be furnished to financial institutions.
-do- (a) to (d)
-do- (a) to (d)
-do- (a) to (d)
-do- (a) to (d)
-do- (a) to (d)
-do- (a) to (d)
-do- (a) to (d)
-do- (a) to (d)
(iv) UP State Industrial Development Corporation Limited Kanpur
(v) Assam Industrial Development
2Corporation Ltd. , Guwahati
(vi) Gujarat Industrial Investment Corpn.
2Ltd. , Ahmedabad
(vii) Nagaland Industrial Dev. Corpn. Ltd., Dimapur
(viii) Uttar Pradesh Financial Corpn., Kanpur
(ix) State Industries Promotion Corpn. of
2Tamil Nadu Ltd. , Chennai
(x) The Tamil Nadu Industrial Investment
2 Corpn. Ltd. Chennai
(xi) Karnataka State Indl. Invest. And Dev.
2Corpn.Ltd ., Bangalore
(xii) The Pradeshiya Ind. And Investment Corpn. of UP Ltd.,Lucknow
(xiii) Andhra Pradesh State Financial Corpn., Hyderabad
December, 1985
March, 1982October 1988
October, 1982August, 1986
September, 1983
September, 1983
October, 1983
November, 1983
July, 1982February, 1986
March, 1986
June, 1982March, 1986
57
-do- (a) to (d)
-do- (a) to (d)
-do- (a) to (d)
-do- (a) to (d)
-do- (a) to (d)
-do- (a) to (d)
-do- (a) to (d)
-do- (a) to (d)
-do- (a) to (d)
-do- (a) to (d)
-do- (a) to (d)
-do- (a) to (d)
-do- (a) to (d)
-do- (a) to (d)-do- (a) to (d)
(xiv) The Punjab State Indl. Dev. Corpn. Ltd., Chandigarh
(xv) The State Indl. and Investment Corpn. of
2Maharashtra Ltd ., Mumbai
(xvi) Haryana Financial 2Corpn. , Chandigarh
(xvii) Punjab Financial Corpn., Chandigarh
(xviii) Andhra Pradesh Indl. Dev.,Corpn. Ltd., Hyderabad
(xix) Rajasthan State Indl. Dev. & Inv. Corpn. Ltd., Jaipur
(xx) Indl. Promotion & Inv. Corpn. of Orissa
2Ltd ., Bhubaneswar
(xxi) Gujarat State Fin. 2Corpn ., Ahmedabad
(xxii) The Zoram Indl. Dev. Corpn. Ltd.,Mizoram
(xxiii) Kerala State Indl. 2Dev. Corpn. Ltd .,
Thiruvnanthapuram
(xxiv) Rajasthan Financial 2Corpn. ,Jaipur
(xxv) West Bengal Indl. 2Dev. Corpn. Ltd .,
Calcutta
(xxvi) Orissa State Financial Corpn.
(xxvii) Bihar State Financial Corpn., Patna
March, 1986
June,1982April,1984June,1984
September, 1982April, 1986May, 1988
May, 1986
May, 1982June, 1986
August, 1986
September, 1982August, 1986
April, 1982September, 1986
March, 1987
August, 1986
September, 1983July, 1987
July, 1987
July, 1987
January, 1988
58
59
(xxviii) Delhi Financial 2Corpn. , New Delhi
(xxix) Manipur Indl. Dev. 2Corpn. Ltd. , Imphal
(xxx) Pondicherry Indl. Promotion, Dev. & Inv. Corpn. Ltd., Pondicherry
(xxxi) Arunachal Pradesh Indl. Dev. & Financial
2Corpn. Ltd. , Naharlagum
(xxxii) Gujarat Industrial Development Corporation
(xxxiii) Manipur Industrial Development Corpn. Ltd., Imphal
(xxxiv) Assam Indl. Dev. Corpn. Ltd., Guwahati
(xxv) Gujarat Industrial Investment Corporation Ltd., Ahmedabad
(xxxvi) Arunachal Pradesh Industrial Development & Financial Corpn. Ltd., Naharlagun
(xxxvii) Gujarat State Financial corporation
August, 1988
April, 1990
December, 1990
August, 1991
May, 1999
April, 1990
July, 1990
June, 1991
August, 1991
May, 1999
-do- (a) to (d)
-do- (a) to (d)
-do- (a) to (d)
-do- (a) to (d)
To issue certificate with regard to shareholders, and share-holdings of Companies, for the purposes of transfer of industrial Plot/Shed.
Secretarial Audit, once a year of the Companies assisted by the Corporation
Secretarial Audit, once a year, of the Companies assisted by the Corpn. under the IDBI's Refinance Scheme. However, Companies having whole-time secretary need not perform Secretarial Audit, provided such Company Secretary submits a certificate of compliance of various provisions of law.
Secretarial Audit, once a year, of the Companies assisted by the Corpn. including the joint/associate sector Companies of the corpn. However, Companies having whole-time secretary need not perform Secretarial Audit provided such Company Secretary submits a certificate of compliance of various provisions of law.
Secretarial Audit, once a year, of the Companies assisted by the Corporation.
C. Due Diligence Certificates/Search Report
(i) Certification with regard to the compliance of various laws such as Factories Act, Safety Provisions and other local Acts, by the concerned borrowers.
(ii) Preparation of Search Report and other work connected with Registrar of Companies.
B. Secretarial Audit
1. Secretary of Company can also undertake such assignment.
2. In addition, certificate in respect of search reports from the records maintained by the office of the Registrar of Companies will be accepted.
To issue a certificate about certain prescribed details of a company chartering foreign fishing vessels, according to the guidelines issued by the Department of Agriculture and Co-operation.
A Company Secretary setting up industrial unit recognised as 'Special Class Entrepreneur' under the category of technical entrepreneurs (Special class entrepreneurs are eligible for 5% extra capital investment subsidy and other additional privileges for setting up industries).
The "Guidelines and General Information for Grant of Licence for Operating Internet Services" authorise Company Secretaries to issue certificate on net worth of the Companies. The Guidelines provide that a company having ISP licence and a net worth of Rs. One Hundered crore or more can only offer IPTV services subject to approval from Licensor. A certificate from Company Secretary (certifying the net worth of the company) is to be submitted
The Guidelines on Corporate Governance for Central Public Sector Enterprises 2007 provide that the company shall obtain a certificate from practicing Company Secretary regarding compliance of conditions of corporate governance as stipulated in these Guidelines and Annexes.
Introduction of panel of Practising Company Secretaries for appointment as receivers, arbitrators, trustees and special officers.
Ministry of Finance, Department of Revenue, Central Board of Direct Taxes, have notified the profession of Company Secretaries under section 44AA of the Income Tax Act, 1961.
July, 1987
August, 1992
August, 2007
June 2007
February, 1983
October, 1992
VIII
67.
68.
69.
70.
IX
71.
X
72.
Department of Agriculture and Cooperation, Ministry of Agriculture
Entrepreneurship Department of Industries, Government of Orissa
Department of Telecommunication, vide its Guidelines No. 820-1/2006-LR, dated 24.8.2007
Ministry of Heavy Industries and Public Enterprises, Department of Public Enterprises, vide its ref. no. 18(8)/2005-GM dated 22nd June 2007
HIGH COURT
Calcutta High Court (letter no. Cor. 424 dated 9.2.1983)
ANCILLARY
Income-Tax Act, 1961
60
GOVERNMENT DEPARTMENTS
Appointment of superior posts and services under the Central Government.
“Secretary” redefined to include, a member of the Institute appointed to perform the duties which may be performed by a secretary under the Act and other ministerial or administrative duties.
(i) Every Company having a paid-up share capital of Rs. 5 crores or more to employ a whole-time secretary who is a member of the Institute.
(ii) Pass in Intermediate examination of the Institute eligible for appointment as whole-time secretary in case of Companies having paid-up share capital of less than Rs. 5 crores.
(iii) Pass in Intermediate examination of the Institute eligible for appointment as a whole-time secretary in case of a company with its registered office and corporate office and works situated in towns with a population of less than one lakh in accordance with Census of India 2001 Report and having a paid-up share capital of rupees two crores or more but less than rupees five crores.
Every producer company having an average annual turnover exceeding five crores rupees in each of three consecutive financial years to have a whole-time secretary who is a member of the Institute.
Compliance officer to be appointed by Listed Companies in Compliance with Circular No. SMD/POLICY/CIR-06/98 dated February, 12, 1988, shall be the Company Secretary of the Company.
For recruitment in public sector under-takings of the State to superior posts.
Qualification for recruitment to Grades I to IV in the Accounts Branch of the Central Company Law Service.
Empanelment of Company Secretaries for assignment of Indian experts to the developing countries of Asia, Africa and Latin America.
Degrees/diplomas awarded by Universities or other educational Institutes established by an Act of the Central or State legislature or by an Act of Parliament automatically specialize for the purpose of recruitment to the posts and services under the State Government.
February, 1968December, 1971July, 1981
May, 1988w.e.f. 15.6.1988
February, 1975(as amended in December 1988, April 1993, and in June, 2002
14 October, 2003
6 February, 2003
May, 1999
September, 1981
November, 1982
March, 1984
January, 1978June, 1981
Ministry of Education
Section 2(45) of the Companies Act, 1956
Section 383A of the Companies Act, 1956 read with Companies (Appointment & Qualifications of Secretary) Rules, 1988
Section 581X of the Companies Act, 1956
SEBI vide circular Letter No. SMD/POLICY/CIR-12/99 dated 18.5.1999
Government of Andhra Pradesh
Central Government (Ministry of Corporate Affairs)
Ministry of Home Affairs, Department of Personnel and Administrative Reforms
Government of Gujarat, General Administration, Department Circular No. RDD/1077/1120/K dated 16.1.1978 and letter No. RDD/1081/1781/K dated 23.6.1981
II. FOR A COMPANY SECRETARY IN EMPLOYMENT
1.
2.
3.
4.
5.
6.
7.
8.
9.
61
ACS is specialized as one of the qualifications for the purpose of Group 'A' appointments in the State Government Service in the departments concerned with Trade, Commerce, Finance, Commercial Taxes and Industry where such a specialized knowledge is called for.
Preference to be given to candidates possessing ACS qualification in addition to ACA/AICWA qualification, for recruitment to the posts of Finance Directors in State Government Undertakings in Kerala.
ACS as one of the superior qualification for appointment to executive posts.
Employees passing Intermediate and Final Examinations of Company Secretaryship course are eligible for lump sum incentives of Rs.2,000 and Rs. 4,000 respectively.
Fellow Members are eligible for appointment as Director/Professor/ Reader in AICTE approved management institutions.
Company Secretary or any other person to be designated as compliance officer.
Issuer to appoint its Company Secretary as Compliance Officer.
March, 1988
May, 1989
November 1989
th9 April,1999
April, 1991 (revised in 1999)
Sept., 2003
1 November, 2004
3 April, 2006
Government of Tamil Nadu, Personnel and Administrative R e f o r m s ( Pe r s o n n e l ) Department, Order No. G.O. Ms. No. 148 dated 7.3.1988
Government of Kerala, Planning & Economic Affairs (BPE) Department, Thiruvanathapuram, Order No. 10180/BPE – 2/89/Plg. Dated 29.5.1989.
Karnataka State Financial Corporation, Letter Pers/P- 3214 dated 10.11.1989
(a) Govt. of India, Ministry of Personnel, Public Grievances and Pensions (Department of Personnel & Training) O M No. dated 1/2/89-Estt.(Pay.I) dated 09.04.1999.
(b) Office of Comptroller & Auditor General of India vide Letter No. 284/ NGE(ENTT)/44-2005.
All India Council for Technical Education (AICTE),New Delhi, Letter No.FD/PSSC/2003-04/20
Model Listing Agreement for Listing of Debt Securities SEBI/CFD/DIL/CIR-39/ 2004/11/01
Model Listing Agreement for Listing of Indian Depository Receipts SEBI/CFD/DIL/IDR/1/ 2006/3/4
10.
11.
12.
13.
14.
15.
16.
62
LIST OF UNIVERSITIES WHICH HAVE RECOGNISED COMPANY SECRETARYSHIP QUALIFICATION AS EQUIVALENT TO POST GRADUATE DEGREE FOR PURSUING PH.D COURSE
Sl. Name of UniversityNo
1. Sardar Patel University Vallabh Vidyanagar Gujarat - 388 120
2. South Gujarat University University Campus Udhana-Magdalia RoadSurat - 395 007
3. Maharshi Dayanand University Rohtak - 124 001 Haryana
4, Guru Nanak Dev University Amritsar - 143 005Punjab
5. University of Poona Ganeshkhind Pune - 411 007 (Maharashtra)
6. Punjab University
Chandigarh – 160014
7. Nagpur UniversityRavindra Nath Tagore MargNagpur - 440 001 (Maharashtra)
8. Chaudhary Charan Singh University Meerut - 250 005Uttar Pradesh
9. Mangalore University MangalagangothriMangalore - 574 199
10. University of Kerala Thiruvananthapuram - 695 034
Kerala
11. University of MysoreViswavidyanilaya KaryaSoudha “Crawfort Hall”Mysore - 570 005
12. Cochin University of Science & Technology Kochi - 682 022Kerala
Reference
D:A:4/1/8209dated 26.12.1980
A/Eli/Equi/17388 dated 18/23.2.1981
AC-III/R81/2375dated 28.2.1981
Gen/Recog/8130dated 23.4.1981
Elg/4251dated 16/19.6.1981
4416/GM dated 31.3.1983
Exam./Recog./5591dated 21.9.1983
Proceeding of the Meeting of Equivalence Committee held on 8.12.83
MU/ACC/Ph.D/2284-85 (A5)dated 31.7.1985
Acad.C-3/2034/85 (Recogn.)dated 7.8.1985
R2/917/84-85dated 12.12.1985
Ac.A3/10705/85dated 25.3.1986
Subjects
Commerce
Commerce and alliedsubjects
Commerce and alliedsubjects
Commerce
Commerce/Law/ Management
Business Management/Commerce
Commerce
Commerce
Commerce and alliedsubjects
Commerce
Commerce
Commerce and alliedsubjects
63
13. Bangalore University University City Campus Bangalore - 560 001
14. Shivaji UniversityVidayanagarKolhapur - 416 004
15. University of Bombay Mumbai - 400 032
16. Algappa UniversityAlgappa Nagar Karaikudi - 623 003
Tamilnadu
17. Manonmaniam Sundaranar University Tirunelveli - 627 009Tamilnadu
18. Pondicherry University R V Nagar Kala PetPondicherry - 605 014
19. Kuvempu University
Shankarghatta
Shimoga Distt.
Karnataka-577 451
20. Kakatiya University
Warangal - 506 009
Andhra Pradesh
21. Utkal University
Vani Vihar Bhubaneswar - 751 004 (Orissa)
22. North Maharashtra University Jalgaon - 425 001 (Maharashtra)
23. Karnatak University
DharwadKarnataka
24. Rani DurgawatiVishwavidhyalayaJabalpur - 482 001(Madhya Pradesh)
25. Dr. Babasaheb AmbedkarMarathwada UniversityAurangabad - 431 004 (Maharashtra)
Com./17663/85-86dated 3.4.1986
SU/Eligi./JNV/Equivi/3644 dated 21.12.1988
El/C 121 of 1989dated 9.1.1989
Letter dated 19.9.1991
MSU/CE/RECOGN/92-93dated 12.4.1993
Letter dated 21.7.1994
KU/AB/Afn-2/5212/94-95 dated 25.10.1994
1111/B4/KU/Recogn.94
dated 5.11.1994
AC/Recog./Gen-40/(P)20463/94dated 17.11.1994
NMU/94/5/33-B/8432
dated 6.12.1994
KU/Aca/PG/CRT/95/6993dated 9.1.1995
GS/95/31 dated 27.1.1995
Acad./Elqui/Eligi/94-95/59314 dated 7/8.12.1994
Commerce
Commerce
Commerce
Commerce/
CorporateSecretaryship/BankManagement
Commerce and allied disciplines
Commerce
Commerce/Law/Management
Commerce/BusinessManagement
Commerce
Commerce/Law/Management
Management
Commerce
Commerce and alliedsubjects
Name of University ReferenceSl. No. Subjects
64
26. National Law School of India University NagarbhaviBangalore - 560 072
27. Sambalpur UniversityJyoti Vihar BurlaSambalpur – 768 019 Orissa
28 North Gujarat UniversityUniversity Road Patan - 384 002 (Gujarat)
29. Bhavnagar UniversityGauri Shankar Lake Road Bhavnagar - 364 022Gujarat
30. The University of Kashmir
Hazartbal, Srinagar - 190 006
31. Dayalbagh Educational Institute(Deemed University) Dayalbagh, Agra -282 005 (U.P.)
32. Punjabi UniversityPatiala - 147 002Punjab
33. T.M. Bhagalpur University Bhagalpur
Bihar – 812 007
34. Bharathiar UniversityCoimbatore - 641 046Tamilnadu
35. National Academy of Legal Studies and Research (NALSAR) University of Law 3-4-761 Barkatpura Hyderabad - 500 027
36. Banaras Hindu University
Varanasi - 221 005
Uttar Pradesh
37. University of Madras
University Building
Chepauk, Chennai - 600 005
38. Jiwaji University
Vidya Vihar
Gwalior - 474 011 (M.P.)
MOU dated 5.11.1997
Notification No. 10420/Acd-Idated 10.7.1998
Aca/8479/2000dated 19.8.2000
Acad/PG/1994/4349/2002dated 8.3.2002
F(Recog.Acad)/KU/002dated 7.5.2002
DE1/GN/ACD-9/ 1839dated 2.1.2003
315/ARBdated 12.3.2003
M/39067 dated 7.11.2003
18732-I/S4/2003 dated 2.01.2004
MOU dated10.04. 2004 and letter dated 5.8.2005
RAC/Misc/Equivalence/2004-05/232 dated 8.6.2004
D.2/PH.D./ADMN/2004/572dated 28.6.2004
F/Academy/Arhata/2004/2942
dated 6.7.2004
Business Laws
Commerce/Managementand related field
Commerce and alliedsubjects
Commerce
Commerce &Management
Commerce/Management
Commerce/Law/Management
Commerce and alliedsubjects
Commerce
Discipline of Law
Commerce
Commerce
Commerce and Allied
Disciplines
Name of University ReferenceSl. No. Subjects
65
39. Annamalai University
Annamalainagar
Chidambaram - 608 002
Tamilnadu
40. Sri Venkateswara University
Tirupati, Chittor - 517 502
Andhra Pradesh
41. Osmania UniversityHyderabad - 500 007Andhra Pradesh
42. Devi Ahilya Vishwavidyalaya R N Tagore MargIndore - 452 001Madhya Pradesh
43. University of BikanerDungar College CampusJNV ColonyBikaner - 334 003 (Rajasthan)
44. Madurai Kamaraj University Palkalai Nagar Madurai - 625 021 (Tamilnadu)
45. Guru Gobind Singh Indraprastha University Delhi 110 006
46. Gauhati UniversityGopinath Bardoloi NagarGuwahati – 781 014
47. Berhampur University, Bhanja Bihar, Berhampur-760 007 (Orissa)
48. Mahatma Gandhi University,Kottayam - 686 560Kerala
B6/6430/2003
dated 5.11.2004
8008/C- I(2)/2005
dated 29 April, 2005
1/L/2005/Acad. dated 02.01.2006 and 2702/L/2006/Acad. dated 26.10.2006
No. 11/06/630
dated 27.4.2006
F.12()/UOB/Rese/2006/18047-18107 dated 1.11.2006
R3/Ph.D – 2007 dated 13.5.2007
GGSIPU/DAA/2007-08/117dated 2.01. 2008
GU/AC/Equiv/08/886-888 dated 17. 6. 2008
No. 10191/Acad-I dated 30.8.2008
ACD/3/3384/2005 dated
6th October, 2008
Commerce and alliedsubjects
Management and Commerce
Commerce/ Business Management
Commerce and alliedsubjects
Commerce/
Management/Law
Commerce and Management Studies
Management and Law
Commerce
Management
Commerce
Name of University ReferenceSl. No. Subjects
66
NUMBER OF STUDENTS REGISTERED DURING THE LAST 10 YEARS
0
5000
10000
15000
20000
25000
30000
35000
FOUNDATION EXECUTIVE
1999-00 2000-01 2001-02 2002-03 2003-04 2004-05 2005-06 2006-07 2007-08 2008-09
11
12
1
18
42
1
83
15
16
07
1
98
91
15
98
8
11
53
3
17
43
6
10
79
6
16
41
7
91
71
12
15
0
84
43
12
78
6
88
69
15
28
5
20
43
2
29
53
9
12
08
9
20
94
3
0
2000
4000
6000
8000
10000
12000
14000
16000
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009
12
66
34
22
92
70
15
12
36
60
97
97
21
76
38
41
10
78
4
24
50
39
72
11
58
2
29
10
40
67
11
95
6
21
16
43
09
12
87
6
30
15
44
42
13
40
4
30
18
46
64
13
67
1
29
33
30
88
47
94
49
43
14
04
1
14
92
4
CP HOLDERS FELLOWS ASSOCIATES
NUMBER OF MEMBERS AS ON 31ST MARCH
67
LIST OF PUBLICATIONS
Publications
Corporate Governance Modules of Best Practices (Seventh Edition)
Prohibition of Insider Trading Law & Procedure
Practitioner's Guide to Consumer Protection Law
Handbook on Mergers, Amalgamations & Takeovers - Law and Practice
Securities Management and Compliances
Segmentwise Role of Company Secretaries
Doing Business in Thailand
Handbook on Internal Audit of Operations of Depository Participants
Delisting Of Securities
Handbook On Arbitration and Alternative Dispute Resolution
Referencer on Limited Liability Partnership Bill, 2006
World Trade organization International Trade Joint Ventures & Foreign Collaborations
Corporate Laws-2009 with CD
Guidance Notes
Guidance Note on Board's Report
Guidance Note on Compliance Certifcate
Guidance Note on Dividend
Guidance Note on Code of Conduct for CS
Guidance Note on Certification under Investor Education and Protection Fund
Guidance Note on Buy-Back of Securities
Guidance Note on Meeting of the Board of Directors
Guidance Note on Passing of Resolution by Postal Ballot
Guidance Note on General Meetings
Guidance Note on Signing of Annual Return
Guidance Note on Corporate Governance Certificate
Guidance Note on Preferential Issue of Shares
Guidance Note on Diligence Report for Banks
Guidance Note on Internal Audit of Stock Brokers
68
CD's
Chartered Secretary Journal on CD ROM
Referencer on Propounding Areas of Practice for Company Secretaries
Doing Business in Singapore
Secretarial Standards (SS-1 to SS-6)
SECRETARIAL STANDARDS
Secretarial Standards - A Compendium (SS-1 to SS-9)
Secretarial Standard on Meetings of the Board of Directors (SS-1)
Secretarial Standard on General Meetings (SS-2)
Secretarial Standard on Dividend (SS-3)
Secretarial Standard on Registers and Records (SS-4)
Secretarial Standard on Minutes (SS-5)
Secretarial Standard on Transmission of Shares and Debentures (SS-6)
Secretarial Standard on Passing Resolutions by Circulation (SS-7)
Secretarial Standard on Affixing of Common Seal (SS-8)
Secretarial Standard on Forfeiture of Shares (SS-9)
Secretarial Standard on Board's Report (SS-10)
st stList of Members as on 1 April, 2006 along with Supplementary List as on 1 April 2007 & 2008
69
www.icsi.edu
Role of Company Secretary
• Corporate Laws
• Corporate Governance
• Corporate Administration
• Board and Shareholders Meetings
• Corporate Compliance Management
• Stakeholder Relationship
• IPO, ADRs / GDRs
• Capital Markets, Stock Exchanges & Listing Agreement
• Mergers & Amalgamations
• Insider Trading & Takeovers
• Representations
• Arbitration & Reconciliation
• Direct and Indirect Taxes
• Investor Education and Protection
Corporate Governance, the buzzword in today's business environment is a combination of legal practices, ethics, best
management practices, wealth creation management and foresight. Company Secretary is the key person, who
implements all these in an encouraging environment. Besides, he plays a vital role in planning Company's future.
A Company Secretary who represents a company to the internal and external stakeholders, coordinates the
management functions and company policies, keeps an eye on ethics and mutual trust, helps in strategic decisions -
aligning the company towards excellence.
As a qualified professional from the ICSI, world's largest Institute for Company Secretaries, he is a true multifaceted,
who executes the day to day activities encompassing all the key areas of Corporate Governance, all the way to
corporate growth through foresight and professional dexterity.
Managing Excellence
Company SecretaryYour scaffold to be a Leader in the Corporate World
Concept
The letters 'CS' to be used by the Members as a prefix before their
names; shares a direct and umbilical relationship with the identity
of the Institute. A compact unit in itself, with the central arrow of
growth and excellence, it represents stability and integrity, which
are the hallmark of the profession.
Set in a sober deep blue colour, it represents a very confident and
upright professional.
LOGO FOR MEMBERS