The Institute of Company Secretaries of India (ICSI), through its President CS Pawan G. Chandak, has written to the Revenue Secretary on 24 July 2026 requesting an amendment to the Foreign Exchange Management Act, 1999 to expressly include Company Secretaries in Practice as Authorised Representatives before the Appellate Tribunal for Foreign Exchange (ATFE). Referring to Section 32 of the Act, ICSI notes that the provision presently permits representation by legal practitioners or chartered accountants before the Special Director (Appeals). The representation states that Company Secretaries are already authorised to represent stakeholders before forums including the NCLT, NCLAT, CCI, SAT, RERA Authorities and Appellate Tribunals, TDSAT, and various tax, regulatory and adjudicating authorities under specified statutes. It further states that Company Secretaries in Practice possess expertise in FEMA, related laws, compliance, and cross-border transactions. ICSI has requested that they be included as authorised representatives before the ATFE under Section 32 of the Foreign Exchange Management Act, 1999 and has sought the Government’s consideration of the request along with an opportunity to present the matter in detail.
Institute of Company Secretaries of India
CS Pawan G. Chandak
PRESIDENT
G&CL: ATFE: JUL26 | Dated: July 24, 2026
Shri Arvind Shrivastava
Hon’ble Revenue Secretary
Department of Revenue
Ministry of Finance
Room No. 14102, Kartavya Bhawan – I
New Delhi – 110001
Subject: Request to expressly include Company Secretaries in Practice as Authorised Representatives before Appellate Tribunal for Foreign Exchange (ATFE).
Greetings from the Institute of Company Secretaries of India!
The Institute of Company Secretaries of India (ICSI) is a premier professional body established under an Act of Parliament, namely the Company Secretaries Act, 1980. It functions under the jurisdiction of the Ministry of Corporate Affairs and is committed to regulating and developing the profession of Company Secretaries in India. With a strong national and global presence, ICSI caters to over 80,000 members and around 2,50,000 students.
As the legal and regulatory environment continues to evolve and change, Company Secretaries are those innovative and strategic professionals who can stay ahead in the competition with multifaceted competence over corporate laws and effective communication skills, especially in adjudication and resolution of disputes.
ICSI Submission:
We wish to draw your kind attention to Section 32 of the Foreign Exchange Management Act, 1999, which authorizes the Central Government to appoint one or more legal practitioners or chartered accountants or any of its officers to act as presenting officers. The provision reads as under:
“(1) A person preferring an appeal to the [Special Director (Appeals)] under this Act may either appear in person or take the assistance of a legal practitioner or a chartered accountant of his choice to present his case before the [Special Director (Appeals)].
(2) The Central Government may authorise one or more legal practitioners or chartered accountants or any of its officers to act as presenting officers and every person so authorised may present the case with respect to any appeal before the [Special Director (Appeals)].”
In light of the aforesaid provision, it is respectfully submitted that the Government may kindly consider amending the relevant provisions of the Foreign Exchange Management Act, 1999 to expressly include Company Secretaries in Practice as Authorised Representatives before the Appellate Tribunal for Foreign Exchange (ATFE).
Justification:
At present, Company Secretaries are already authorized under various statutes to represent stakeholders before several judicial and quasi-judicial forums, including:
- National Company Law Tribunal (NCLT) and National Company Law Appellate Tribunal (NCLAT) under Section 432 of the Companies Act, 2013;
- Competition Commission of India (CCI) under Section 35 of the Competition Act, 2002;
- Securities Appellate Tribunal (SAT) under Section 23C, Explanation (b) of the Depositories Act, 1996;
- RERA Authorities and Appellate Tribunals under Section 56 of the Real Estate (Regulation and Development) Act, 2016;
- Telecom Disputes Settlement and Appellate Tribunal (TDSAT) under Section 17 and Explanation (b) of the Telecom Regulatory Authority of India (Amendment) Act, 2000;
- Various tax, regulatory and adjudicating authorities.
Being well versed with forex laws and its implementation, Company Secretaries in Practice have sound legal, analytical and clear understanding of the applicable laws including FEMA, as well as the related laws such as anti-money laundering laws and international taxation. They are professionals of compliance and are well abreast of regulatory changes in the field of cross-border transactions and foreign trade & policy.
In view of the above, it is requested that Company Secretaries in Practice may be included as authorized representatives in the Appellate Tribunal for Foreign Exchange under Section 32 of the Foreign Exchange Management Act, 1999. Such a progressive measure will strengthen the debt recovery ecosystem by enhancing professional participation, improving access to justice, and supporting efficient adjudication.
We request your kind consideration of this request. We would also be grateful for an opportunity to present this matter in detail at a time convenient to you.
Thanking you,
Yours faithfully,
(CS Pawan G Chandak)
President
The Institute of Company Secretaries of India
