THE INSTITUTE OF
Company Secretaries of India
IN PURSUIT OF PROFESSIONAL EXCELLENCE
Statutory body under an Act of Parliament
(Under the jurisdiction of Ministry of Corporate Affairs)
B – GUIDELINES FOR CLAIMING EXEMPTION FROM PRACTICAL TRAINING
1. Sunset Clause of Training to student registered under earlier regulations.-
a) Notwithstanding a student who is already applied for exemption and paid the fees of Rs.10,000/- and the application was not rejected before the date of commencement Company Secretary Regulation (Amendments) 2020 shall be allowed to claim exemption from Practical training in accordance with the provisions of earlier regulations.
b) If any students admitted under earlier regulation and completed his professional programme, wants exemption in practical training needs to apply within six month from the date of notification of Company Secretary Regulation (Amendments) 2020 i.e. on or before 03rd August 2020.Otherwise after six month provisions of these guidelines shall be applicable to him.
TITLE:
These guidelines may be titled as “Guidelines for claiming exemption from practical training”. The provision of these guidelines will be applicable for claiming exemption from long term practical training.
2. EFFECTIVE DATE:
The guidelines are effective from the date of notification of Company Secretary Regulation (Amendments) 2020 and shall be applicable to the students registered under Company Secretary Regulation (Amendments) 2020
3. Eligibility For claiming exemption from Practical Training
Any student after passing Final Examination or Professional Programme, who claims to have acquired practical knowledge and skills equivalent for Practical training (including EDP) stated in regulation 46BB, may apply for exemption from undergoing practical training (including EDP) in accordance with the criteria laid down in these guidelines.
4.1 Eligibility criteria
a) Three year’s of experience as an Executive/Officer/any other post higher thereto in the Secretarial Department or Four years’ experience as assistant in Secretarial Department in any company having a paid-up share capital not less than rupees Fifty Lacs or gross fixed assets of not less than rupees Two crore or Turnover not less than Rupees Ten Crore including any state/central Government, public sector undertaking, autonomous or statutory body, financial institution or bank which in the opinion of the Council provides scope for acquiring sufficient professional experience.
b) Three years’ experience as Secretarial Officer or Executive or any post equivalent; or Four years’ experience as an Assistant or any other post equivalent or higher thereto under a Company Secretary in whole time practice having at least Five years of experience as member in practice
c) Five years’ post qualification work experience of continuous practice on a whole-time basis as a Chartered Accountant or Cost Accountant having carried out statutory/cost/Internal audit or providing management consultancy services to a Company having paid-up share capital not less than rupees Fifty lakhs or any organisation having gross fixed assets of not less than rupees two crore or Turnover not less than Rupees Ten Crore including any public sector undertaking, autonomous or statutory body, financial institute or bank which in the opinion of the Council provides scope for acquiring sufficient professional experience;
d) Five years’ post qualification work experience of continuous practice as an Advocate in a High Court , represented one case before the high court and having rendered services as Counsel/Advisor to a Company having paid-up share capital of not less than rupees Fifty lakhs or any organisation having gross fixed assets of not less than rupees two crore or Turnover not less than Rupees Ten Crore including any public sector undertaking, autonomous or statutory body, financial institute or bank which in the opinion of the Council provides scope for acquiring sufficient professional experience;
e) Four years’ post qualification (Management, MBA or any other equivalent qualification experience as an executive or Five years’ post qualification experience as an executive or six years’ experience as an assistant in the administration, accounts, finance, personnel or legal department or in any other area in any company or body corporate having a paid-up share capital not less that rupees fifty lakhs or any organization having fixed assets of not less than rupees two crore or Turnover not less than Rupees Ten Crore Central/State Government, any Public Sector Undertaking, autonomous or statutory body, financial institution, banking or insurance company which in the opinion of the Council provides scope for acquiring sufficient professional experience;
f) Five year’s of experience as an Executive/Officer/any other post higher thereto in the Secretarial Department or Six years’ experience as assistant in Secretarial Department in any LLP having a total capital contribution not less than rupees Fifty Lacs or annual turnover of Rupees twenty five crore or more during the two financial year of the service period.
g) Five year post qualification experience as a regular faculty/Teacher in any university or college affiliated to any university recognized by UGC/AICTE/Affiliated with recognized University, having taught at least one subject in the discipline of Law, Management or Finance & Accountancy, Corporate Governance or any other criteria as recommended by the Council.
h) Has acquired practical experience equivalent to those specified under the Guideline in such professional institutions or abroad as may be recognized by the Institute in this behalf on reciprocal basis.
i) Any person not falling in all or any respects with regard to practical experience and practical training requirements as specified in point no. (i), (ii), (iii) but claims to have acquired practical experience and undergone practical training, equivalent to those specified under these points may apply for exemption from acquiring practical experience or undergoing practical training, as the case may be, and the Council may determine these cases on case to case basis for partial or total exemption taking into account the evidence produced by such person or after interviewing him.
4.2 DOCUMENTS REQUIREMENT:
The eligible candidates shall apply to the Institute in Exemption application form with all relevant documents along with the application fees. The applications should be supported by the following documents:
a. Exemption application form
b. Fee Rs. 20,000/- towards application fees will be applicable for exemption process.
c. Experience certificate having designation, duration of service, pay scale, detail of work profile to assess the experience. The experience certificate should be signed by either the HR head or by the Authorized signatory of the company/firm as the case may be. The name and designation of the Authorized signatory need to be mentioned in the experience certificate.
d. Copy of Annual report of the organization for any two financial year between the service period served in the organization or Audited Balance sheet of the organization for any two financial year between the service period served in the organization or Balance sheet of the organization for any two financial year of the service period served in the organization downloaded from MCA site duly certified by the ROC.
e. CS Professional Programme Pass certificate.
5. Guidelines related to Fees for Exemption Application
| Sr.No. | Criteria | Fees and Refund After the revised Guidelines come into effect |
| 1. | Each student applying for exemption from Practical training and EDP shall be required to pay a processing fee. | Rs. 20,000/- (Rupees Twenty thousand only). |
| 2. | While scrutiny/checking of documents submitted for claiming exemption, if it is found that student is not eligible for granting exemption from training under provisions of CS Regulations & other guidelines, | 80% of the fees will be refunded after deduction of 20% of fees towards the administrative cost. |
| 3. | If the candidate taken the refund and applying again for exemption after acquiring some more experience or on the basis of some additional supporting documents. | he/she shall be required to apply afresh along with payment of Rs. 20,000/- as fees for claiming exemption from training once again |
| 4. | If a student who has not yet passed all the modules of Professional Program of Institute and by mistake he/she has submitted the application for claiming exemption from training and also paid the fees of Rs 20,000/-, in such cases | fees paid by him/her for claiming exemption from training shall be refunded in full. |
| 5. | If a student had already applied for claiming exemption from training before the revised guideline is into effect, and currently his/her application is under process, | in such cases he/she is not required to pay additional fees for claiming exemption from training. |
| 6. | If a student had applied for claiming exemption from training before the revised guideline is into effect , and his/her application was rejected, as found not eligible under provisions of Regulations for granting of exemption at that time. if he/she is applying again on or after the date the revised guidelines come into effect for re-consideration of his /her request. | He/she shall be required to pay Rs 20,000/- if claimed the refund of Fees of Rs.10,000/-
Incase not claimed any refund then need to pay additional fees of Rs.10,000/- |
| 7. | A student has applied for exemption but granted partial exemption from training under earlier training structure. | he/she shall not be eligible for refund of the fees paid by him for exemption |
| 8. | If the candidate is applying for claiming exemption from balance period of training, in such case. | he/she shall not be required to pay any fees for claiming exemption from balance training.
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Deviation from guidelines:
a. The Council is empowered to approve any deviation in the procedures to be complied with under these guidelines or to make any relaxation which does not affect the principles behind the guidelines in just and equitable cases.
b. In the event of any misconduct by a candidate applying for exemption, the Council or the Disciplinary Committee may suo-moto or on receipt of a complaint, if it is satisfied that the misconduct is proved as per the Disciplinary mechanism, can take appropriate action against the candidate.
Explanation-“Misconduct” shall include a behavior in a disorderly manner in relation to the Institute or in or near the place where undergoing training, breach of any Regulation, condition, guideline or direction laid down by the Institute, malpractice with regard to training, or resorting to or attempting to resort to unfair means in connection with the undergoing of training or seeking exemption from undergoing the training or for breach of any policies, rules and regulations for the organization in which he/she undergoing training.
