The Institute of Chartered Accountants of India
Regarding Empanelment of professionals having at least fifteen years of continuous as a Chartered Accountant with Regional Directors of the respective Region as Mediator or Conciliator for the year 2017-2018.
I would like to inform you that the Regional Directors of Southern and North Western Region), Ministry of Corporate Affairs (MCA), Government of India have invited applications for empanelment of Mediators/ Conciliators in pursuant to Rule 3(3) read with Rule 3(5) of the Companies (Mediators and Conciliators) Rules, 2016 for the year 2017-2018.
As per Rule 4(g) of the said Rules, it has been provided that a person shall not be qualified for being empanelled as mediator or conciliator unless he is or has been a professional for at least fifteen years of continuous practice as Chartered Accountant, i.e., he is eligible to empanel himself as a mediator or conciliator, if he has been a professional for at least fifteen years of continuous practice as a Chartered Accountant.
A mediator or a Conciliator may provide relevant services to parties as may be allowed by the Central Government or Tribunal (company Law tribunal or Appellate Tribunal) under the Companies (Mediation and Conciliation) Rules, 2016, i.e., he is appointed for mediation between the parties during the pendency of any proceedings before the Central Government or the Tribunal or the Appellate Tribunal under the Companies Act, 2013.
In this regard, we request the members who are eligible and willing to become mediator and conciliator to empanel themselves with MCA as per aforesaid Notice. You may send your application in Form MDC- 1 as given in the Companies (Mediation and Conciliation) Rules, 2016) along with relevant documents to Regional Directors of the respective Region either physically at their address on the working days or through e-mail:
1. For Southern Region- The application can be sent through Email at rd.south@mca.gov.in; or physically to Sh. S. B. Gautam, 5th Floor, A- Wing, Shastri Bhawan, 26 Haddows Road, Chennai- 600006. The last date and time for receipt of applications is 10th March, 2017.
The notice is available at the link given below- http://www.mca.gov.in/Ministry/pdf/Notice_07022017_1.pdf
2. For North Western Region- The application can be sent through Email at rd.northwest@mca.gov.in; or physically to Sh. J. K. Jolly, ROC Bhavan, Opp Rupal Park Society, Behind Ankur Bus Stop, Naranpura, Ahmedabad-380013. The last date and time for receipt of applications is 15th March, 2017.
The notice is available at the link given below- https://taxguru.in/wp-content/uploads/2017/02/Notice-dated-06.02.2017.pdf
The Companies (Mediation and Conciliation) Rules, 2016 as issued by MCA recently are available at – https://taxguru.in/company-law/companies-mediation-conciliation-rules-2016.html
With Regards
Chairman, Corporate Laws & Corporate Governance Committee
The Institute of Chartered Accountants of India
It is requested that the presribed qualification for “Empanelment of practicing CAs as Mediator or Conciliator “, as “professionals having at least fifteen years of continuous practice as a Chartered Accountant – “may be modified as “FCAs with a continuous period of holding of FCA category -membership, for a total of minimum period of 15 years either in practice or part in employment & part in practice for at least 5 years ( total experience as FCA in this case of part employment & part practice case is also 15 or more years) as the eligibility so much so more number of competent, professionally matured,well qualified experienced senior members of CA profession having held senior level administrative ,finance., legal positions in Governments having retired (even 30 to 35 years of holding FCA qualification, continuosly besides holding ACMA,ACS or LL.B qualifications also)& set up practice as CA s can be available for gainful utilisation by the Govt as well as by concerned parties.Also the minimum age need to be prescribed as 50+ years to have wide experience & knowledge in the relevant domain. It is requested that this sugesstion may be considered by MCA favourably in the interest of concerned parties.