ICSI

Indian Stamp Act Amendments – New Dimensions to securities transactions

CA, CS, CMA - Indian Stamp Act (ISA) amendments were made effective from 1st July 2020. The said amendments on one hand brought in rationalization in charging of duties on issue & transfer of securities for pan India transactions & on the other hand done away with the concepts of duty on securities certificates, letter of allotment, instrument of trans...

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Secretarial Standard on Meetings of Board of Directors

CA, CS, CMA - This Standard prescribes a set of principles for convening and conducting Meetings of the Board of Directors. This Standard is applicable to the Meetings of Board of Directors of all companies incorporated under the Act except One Person Company (OPC) in which there is only one Director on its Board and a company licensed under […]...

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Tips for CS student

CA, CS, CMA - Tips for CS student – Part II # What Should we do for effective study # so much tension going in our mind # I will help you You must be thinking what should we do for study? How many hours should we study? Here I’m let you know my study time table to you. […]...

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Highlights of amendments under Companies (Amendment) Bill, 2020

CA, CS, CMA - The Companies (Amendment) Bill, 2020 was introduced in Lok Sabha by the Minister for Corporate Affairs, Ms. Nirmala Sitharaman, on March 17, 2020.The Bill get passed by Lok Sabha on Sep 19, 2020 The Union Corporate Affairs Minister Nirmala Sitharaman moved the Companies (Amendment) Bill, 2020 for passing in the Upper House (Rajya Sabha) o...

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Name Lending : Curse To The CS Profession

CA, CS, CMA - Meaning  Name Lending means when one lends his/her name and signature to be on records of the Company while that person is not on job in reality in such Company. Consequences of Name Lending 1. Brings Disgrace to the Profession: Malpractices such as name lending destroys the Brand Image of our Prestigious Institute of Companies […...

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78.98% students passed CS Executive Entrance Test (CSEET)

CA, CS, CMA - The result of Company Secretary Executive Entrance Test (CSEET) held on 21st and 22nd November, 2020 has been declared today, the 26th November, 2020 at 2:00 PM. In the above CSEET, 78.98% of candidates have been declared successful....

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Important Instructions to CS Examinees –December, 2020 Examination

CA, CS, CMA - ICSI Executive and Professional Programme Examination  PART- A GENERAL INSTRUCTIONS 1. Immediately, after taking the print-out of the Admit Card from the website of the Institute icsi.edu, every candidate is advised to carefully verify all the particulars mentioned in his/her Admit Card, i.e. his/her Name, Photograph, Signature, Registra...

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ICSI to declare Result of CS Executive Entrance Test (CSEET) today i.e. on 26.12.2020

CA, CS, CMA - DECLARATION OF RESULT OF COMPANY SECRETARY EXECUTIVE ENTRANCE TEST (CSEET) – NOVEMBER, 2020 The Result of CS Executive Entrance Test (CSEET) held on 21st and 22nd November, 2020 would be declared on Thursday, the 26th November, 2020 at 2:00 P.M. The result along with individual candidate’s subject-wise break-up of marks will be made a...

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Covid-19 Regulatory Updates by ICSI

CA, CS, CMA - The pandemic while having disrupted the economic activities has impacted the economic growth of nations globally. But as the famous axiom goes, it has been a hard struggle but I can see a glimmer of light at the end of the tunnel....

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Preliminary status of Students registered till 27th Oct for CSEET Scheduled on 21.11.2020

CA, CS, CMA - Please note that the preliminary status of students registered up to 27th October 2020 for the CSEET scheduled to be held on 21St November 2020 has been made available at the following link:...

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Appellate Authority shows displeasure for use of it to recover dues

Aakansha Vaid Vs ICSI (Appellate Authority of ICSI) - Aakansha Vaid Vs ICSI (Appellate Authority of ICSI) he Authority records its displeasure about the conduct of the Complainant during the entire proceedings. The Complainant lodged a comprehensive Complaint supported with several documents before the Institute on 3rd August 2017. He sent letter dated...

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Fees for certified copies sought under RTI cannot be charged under CS Act, 1980

ICSI Vs Paras Jain (Supreme Court of India) - Avenue for seeking certified copies as well as inspection is provided both in the Right to Information Act and in Company Secretaries Act, 1980. We are cognizant of the fact that guidelines of the appellant, framed by its statutory council, are to govern the modalities of its day-to­day concerns an...

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CS found guilty of filing Compliance Certificate without Due Diligence

Shri Rajev M. Bhingarde Vs Shri Hemant S. Shetye - Shri Rajev M. Bhingarde Vs Shri Hemant S. Shetye (Disciplinary Committee, ICSI) Disciplinary Committee after considered all the material on record, the nature of issues involved and in the totality of the circumstances of the case and the Respondent pleaded guilty only to the charge of not exercisin...

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Order on quantum of Punishment without providing opportunity of being heard is invalid

Gayathri Pasarakayala Vs Disciplinary Committee (ICSI Appellate Authority) - Gayathri Pasarakayala Vs Disciplinary Committee (ICSI Appellate Authority) It is clear that the Disciplinary Committee has not followed the due procedure as prescribed statutorily as no opportunity of being heard was provided to Ms. Gayathri Pasarakayala on the question of quantum of punishment irre...

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CS Guilty of Misconduct for suppressing Enrollment as Advocate

Shri Hitender Kumar Mehta Vs Shri Rajiv Bajaj (ICSI Discipilinar Committee) - Shri Hitender Kumar Mehta Vs Shri Rajiv Bajaj (ICSI Discipilinar Committee) The Disciplinary Committee, after considering all material on record, the provisions of the Company Secretaries Act, 1980, the Regulations and Rules made there under; the legal opinions sought in the matter, the prima-facie ...

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Company Secretaries (Procedure of Investigations of Professional and Other Misconduct and Conduct of Cases) Amendment Rules, 2020

Notification No. G.S.R. 696(E) - (10/11/2020) - These rules may be called the Company Secretaries (Procedure of Investigations of Professional and Other Misconduct and Conduct of Cases) Amendment Rules, 2020....

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ICSI: Relaxation to students from undergoing 15 days Class room EDP

Circular No : Trg-07/2020 - (07/10/2020) - Relaxation to the students from undergoing 15 days Class room EDP out of 30 days EDP as mentioned in Regulation 46BB of CS (Amendment) Regulations 2020, if they have completed 15 days Academic Program under Previous training structure....

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ICSI Extension of Last date for submitting the training Quarterly report

Circular No : Trg-06/2020 - (07/10/2020) - Institute of Company Secretaries of India ICSI/TRG/2020 07.10.2020 Circular No : 06/2020 Directorate of Training Extension of Last date for submitting the training Quarterly report (2nd and 3rd Quarter) of trainees up to 31.12.2020. This is in continuation to earlier Circular No ICSI/Trg/06/2020 dat...

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Guidelines for CS trainees attending office during Period of Unlock-5

Circular No: Trg-05/2020 - (07/10/2020) - This is in continuation to the Circular No. ICSI/TRG/2020 dated 30th March 2020 vide which the CS trainees were allowed to work from home during the lock down period and the outbreak of COVID-19 pandemic. The period was treated as continuity of Practical training since the trainees were instructed t...

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ICSI: Extension in provision of making e MSOP accessible to eligible students

Circular No : Trg-04/2020 - (07/10/2020) - This is in continuation to Circular No ICSI/Trg/06/2020 dated 19.06.2020 wherein the students were provided relaxation by easing the eligibility in the provision of e MSOP upto 30th September 2020....

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Recent Posts in "ICSI"

78.98% students passed CS Executive Entrance Test (CSEET)

The result of Company Secretary Executive Entrance Test (CSEET) held on 21st and 22nd November, 2020 has been declared today, the 26th November, 2020 at 2:00 PM. In the above CSEET, 78.98% of candidates have been declared successful....

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Posted Under: Corporate Law |

Important Instructions to CS Examinees –December, 2020 Examination

ICSI Executive and Professional Programme Examination  PART- A GENERAL INSTRUCTIONS 1. Immediately, after taking the print-out of the Admit Card from the website of the Institute icsi.edu, every candidate is advised to carefully verify all the particulars mentioned in his/her Admit Card, i.e. his/her Name, Photograph, Signature, Registra...

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Posted Under: Corporate Law |

ICSI to declare Result of CS Executive Entrance Test (CSEET) today i.e. on 26.12.2020

DECLARATION OF RESULT OF COMPANY SECRETARY EXECUTIVE ENTRANCE TEST (CSEET) – NOVEMBER, 2020 The Result of CS Executive Entrance Test (CSEET) held on 21st and 22nd November, 2020 would be declared on Thursday, the 26th November, 2020 at 2:00 P.M. The result along with individual candidate’s subject-wise break-up of marks will be made a...

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Posted Under: Corporate Law |

Indian Stamp Act Amendments – New Dimensions to securities transactions

Indian Stamp Act (ISA) amendments were made effective from 1st July 2020. The said amendments on one hand brought in rationalization in charging of duties on issue & transfer of securities for pan India transactions & on the other hand done away with the concepts of duty on securities certificates, letter of allotment, instrument of trans...

Read More
Posted Under: Corporate Law |

Covid-19 Regulatory Updates by ICSI

The pandemic while having disrupted the economic activities has impacted the economic growth of nations globally. But as the famous axiom goes, it has been a hard struggle but I can see a glimmer of light at the end of the tunnel....

Read More
Posted Under: Corporate Law |

Company Secretaries (Procedure of Investigations of Professional and Other Misconduct and Conduct of Cases) Amendment Rules, 2020

Notification No. G.S.R. 696(E) (10/11/2020)

These rules may be called the Company Secretaries (Procedure of Investigations of Professional and Other Misconduct and Conduct of Cases) Amendment Rules, 2020....

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Preliminary status of Students registered till 27th Oct for CSEET Scheduled on 21.11.2020

Please note that the preliminary status of students registered up to 27th October 2020 for the CSEET scheduled to be held on 21St November 2020 has been made available at the following link:...

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Posted Under: Corporate Law |

CS Executive Entrance Test on 21.11.2020 through Remote Proctored Mode

On Account of Covid 19 Pandemic precautions, the Council of the Institute has decided to conduct the next CSEET on Saturday, 21st November 2020 as per following, arrangements:...

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Posted Under: Corporate Law |

One More Attempt under 2012 Old Syllabus – ICSI

ICSI has decided that the students of Executive and Professional Programme (2012 old syllabus) shall be allowed one more attempt during the June, 2021 session of examinations....

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Posted Under: Corporate Law |

ICSI: Carry Forward of Examination Fees To June, 2021 Exam Session

In view of the present COVID-19 crisis, some of the students enrolled for June, 2020 session (merged with December 2020 exam session) and students enrolled afresh for December 2020 exam session may wish to appear in June 2021 session of examination, instead of appearing for December 2020 examination session....

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Posted Under: Corporate Law |

ICSI announces date for CSEET Jan 2021 Examination

It is hereby informed that the registration for the Company Secretary Executive Entrance Test (CSEET), January, 2021 session is scheduled to commence from 28th October 2020. The last date for registration is 15th December, 2020. ...

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Posted Under: Corporate Law |

Secretarial Standard on Meetings of Board of Directors

This Standard prescribes a set of principles for convening and conducting Meetings of the Board of Directors. This Standard is applicable to the Meetings of Board of Directors of all companies incorporated under the Act except One Person Company (OPC) in which there is only one Director on its Board and a company licensed under […]...

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Posted Under: Corporate Law |

Guidance Note on Auditing Standard on Secretarial Audit (CSAS-4)

To set out the explanations, procedures and practical aspects in respect of the various provisions contained in the Auditing Standard on Secretarial Audit (CSAS-4), the Auditing Standards Board (ASB) of the Institute has brought out the Exposure Draft of the Guidance Note on Auditing Standard on Secretarial Audit (CSAS-4)....

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Posted Under: Corporate Law |

ICSI: Relaxation to students from undergoing 15 days Class room EDP

Circular No : Trg-07/2020 (07/10/2020)

Relaxation to the students from undergoing 15 days Class room EDP out of 30 days EDP as mentioned in Regulation 46BB of CS (Amendment) Regulations 2020, if they have completed 15 days Academic Program under Previous training structure....

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ICSI Extension of Last date for submitting the training Quarterly report

Circular No : Trg-06/2020 (07/10/2020)

Institute of Company Secretaries of India ICSI/TRG/2020 07.10.2020 Circular No : 06/2020 Directorate of Training Extension of Last date for submitting the training Quarterly report (2nd and 3rd Quarter) of trainees up to 31.12.2020. This is in continuation to earlier Circular No ICSI/Trg/06/2020 dated 19.06.2020 wherein the last date of s...

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Guidelines for CS trainees attending office during Period of Unlock-5

Circular No: Trg-05/2020 (07/10/2020)

This is in continuation to the Circular No. ICSI/TRG/2020 dated 30th March 2020 vide which the CS trainees were allowed to work from home during the lock down period and the outbreak of COVID-19 pandemic. The period was treated as continuity of Practical training since the trainees were instructed to work in accordance with the direction ...

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ICSI: Extension in provision of making e MSOP accessible to eligible students

Circular No : Trg-04/2020 (07/10/2020)

This is in continuation to Circular No ICSI/Trg/06/2020 dated 19.06.2020 wherein the students were provided relaxation by easing the eligibility in the provision of e MSOP upto 30th September 2020....

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Revised effective date for applicability of ICSI Auditing Standards

In view of the current situation of the pandemic, the mandatory applicability of the Auditing Standards is hereby further extended and the Standards shall be mandatorily applicable to Audit Engagements accepted by the Auditor on or after 1st April, 2021....

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Posted Under: Corporate Law |

9 Important decisions taken by ICSI Council on 26.09.2020

Important decisions taken by the Council of the ICSI at its meeting held on 26th September, 2020 1. Approved the Annual Accounts and Annual Report of the Institute for the Financial Year 2019-20. 2. Setting up of ICSI Overseas Centre at Singapore, Australia and Canada....

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Posted Under: Corporate Law |

Tips for CS student

Tips for CS student – Part II # What Should we do for effective study # so much tension going in our mind # I will help you You must be thinking what should we do for study? How many hours should we study? Here I’m let you know my study time table to you. […]...

Read More
Posted Under: Corporate Law |

Highlights of amendments under Companies (Amendment) Bill, 2020

The Companies (Amendment) Bill, 2020 was introduced in Lok Sabha by the Minister for Corporate Affairs, Ms. Nirmala Sitharaman, on March 17, 2020.The Bill get passed by Lok Sabha on Sep 19, 2020 The Union Corporate Affairs Minister Nirmala Sitharaman moved the Companies (Amendment) Bill, 2020 for passing in the Upper House (Rajya Sabha) o...

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Posted Under: Corporate Law |

Extend timelines for Annual filing of OPC due to Covid 19: ICSI

It is requested extend the timelines for annual filing of OPCs upto 31st December, 2020. This will ease the difficulties faced by the OPCs in the time of crisis....

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Posted Under: Corporate Law |

ICSI opens 45 New Examination Centres

ICSI, in its endeavour to provide for a healthy and safe operational environment to all its stakeholders amidst the Covid-19 pandemic, has decided to open 45 New Examination Centres across the country for the Company Secretary Examination scheduled to be held from Monday, 21st December, 2020 to Wednesday, 30th December, 2020....

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Posted Under: Corporate Law |

Name Lending : Curse To The CS Profession

Meaning  Name Lending means when one lends his/her name and signature to be on records of the Company while that person is not on job in reality in such Company. Consequences of Name Lending 1. Brings Disgrace to the Profession: Malpractices such as name lending destroys the Brand Image of our Prestigious Institute of Companies […...

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Posted Under: Corporate Law |

ICSI Request for extension of timelines due to COVID-19

As your good self is aware that impact of COVID-19 pandemic has been harsh and the economy is struggling to come out of the crisis. The corporates are facing challenging times to meet the ends and function smoothly. Considering the current crisis, we request your esteemed office to consider further relaxations in due dates of the followin...

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Posted Under: Corporate Law |

Extension of time for holding AGM for FY ended on 31.03.2020

Ministry of Corporate Affairs for considering ICSI’s representations favorably and granting relaxations in timelines for holding of AGM for the Financial Year ended on March 31, 2020....

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Posted Under: Corporate Law |

Allow Filing of financial statement within sixty days of AGM

We wish to submit that the provision of Section 137(1) of the Companies Act, 2013 requiring filing of financial statement within thirty days of the date of annual general meeting may be considered for amendment by prescribing a period of sixty days for such filing, aligning it with the date of filing of annual return....

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Posted Under: Corporate Law |

Request for extension for holding Annual General Meeting due to COVID-19

It is once again requested that a general extension for the date of conducting AGMs may be allowed so as to provide relief to all the companies and stakeholders The MCA may also consider filing of e-Form GNL -1 for seeking extension of time in holding of AGM through STP mode, so as to speed up the approvals....

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Posted Under: Corporate Law |

CSI UDIN and eCSIN Guidelines

THE INSTITUTE OF company Secretaries of India MCA: August Shri Rajesh Verma. IAS Secretary Ministry of Corporate Affairs Government of India Dr. Rajendra Prasad Road, Shastri Bhawan. New Delhi – 110 001 Subject: ICSI UDIN and eCSIN Guidelines – Reg. Respected Sir, Kindly refer to ICSI letter dated 19th December. 2019 and 3rd J...

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Posted Under: Corporate Law |

Introduce CSR Compliance Certificate: ICSI requests MCA

It is proposed that CSR Compliance Certificate, by an independent professional, should be introduced, which should cover all the aspects of CSR provisions as provided ,under the Act and the Rules. A draft Compliance Certificate covering each and every aspect is given at 'Annexure B....

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Posted Under: Corporate Law |

Amend Rule 8A of Whole-Time Company Secretary Appointment: ICSI

Institute of Company Secretary of India  PD: MCA/August Shri Rajesh Verma, IAS Ministry of’ Corporate Affairs Government or India Dr. Rajendra Prasad Road Shastri Bhawan. New Delhi 110 001 Subject: Companies (Appointment and Remuneration of Managerial Personnel) Amendment Rules, 2020 notified on 3rd Jaunuary, 2020 Respected Sir. Th...

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Posted Under: Corporate Law |

Secretarial Audit for Bigger Companies under Companies Act, 2013

It is submitted to include Secretarial Audit for bigger private companies in the purview of secretarial audit. The suggested amendment in Rule 9 of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014 as under:...

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Posted Under: Corporate Law |

Ashok Kumar Dixit is designated as Director (Discipline) of ICSI wef 01.09.2020

ICSI No. 1 of August, 2020 (28/08/2020)

The Council of the Institute of Company Secretaries of India, pursuant to clause (b) of sub-section (1) of Section 16 read with sub-section (1) of Section 21 of the Company Secretaries Act, 1980, has designated Shri Ashok Kumar Dixit, Joint Secretary as the Director (Discipline) of the Institute of Company Secretaries of India w.e.f. 1 st...

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FAQs -CS Executive Entrance Test (CSEET) through Remote Proctored Mode

Q.1 How the CSEET will be conducted? Will it be conducted from Test Centres or from Home? CSEET shall be conducted through REMOTE Proctored mode instead of conducting the same from Test Centres. Candidates are allowed to appear for the test through laptop/desktop from home or such other convenient and isolated place. Candidates shall not ...

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Posted Under: Corporate Law |

Admit Card for August, 2020 Session of CSEET (Remote Proctored Mode)

It may be noted that the Admit Cards to eligible candidates for appearing in Company Secretary Executive Entrance Test (CSEET) scheduled to be held on 29th August, 2020 through Remote Proctored Mode have been uploaded on the website of the Institute....

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Posted Under: Corporate Law |

Commencement of Registration for CS Executive Entrance Test

The November, 2020 Session of COMPANY SECRETARY EXECUTIVE ENTRANCE TEST (CSEET) shall be held on 21st November 2020 (Saturday). (Earlier it was announced to be held on 28th November 2020, which is now rescheduled)....

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Posted Under: Corporate Law |

ICSI Request for extension of due dates of Company Law compliances

REQUEST FOR EXTENSION OF DUE DATES OF COMPLIANCES UNDER THE COMPANIES ACT, 2013 DUE TO COVID-19- As you are aware that COVID-19 pandemic has affected the entire world including India. Many offices have been closed, while others are not fully operational...

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Posted Under: Corporate Law |

5 Important decisions taken by ICSI Council on 30th July, 2020

THE INSTITUTION 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) ICSI/ID/10/2020 5th August, 2020 Important decisions taken by the Council of the ICSI at its meeting held on 30th July, 2020 1. Partial revision for condu...

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Posted Under: Corporate Law |

Conducting of 1st CSEET on 29.08.2020 through Remote Proctored Mode

CSEET shall be conducted through REMOTE Proctored mode instead of conducting the same from Test Centers. Candidates are allowed to appear for the test through laptop/ desktop from home/ such other convenient place. Candidates shall not be allowed to appear through smart phone (mobile)/ tablet etc....

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Posted Under: Corporate Law |

November 2020 session of CSEET to be held on 28th November 2020

THE INSTITUTION 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) Dated: 05.08.2020 ATTENTION STUDENTS! COMMENCEMENT OF REGISTRATION FOR COMPANY SECRETARY EXECUTIVE ENTRANCE TEST (CSEET), NOVEMBER, 2020 SESSION The Novem...

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Posted Under: Corporate Law |

Clarify use of digital signatures on filing with stock exchanges: ICSI

THE INSTITUTE OF Company Secretaries of India IN PURSUANT OF PROFESSIONAL EXCELLENCE Statutory body under an act of parliament (Under the jurisdiction of Ministry of Corporate Affairs) ICSI:PFP: 2020 July 29, 2020 Ms. Barnali Mukherjee Chief General Manager Corporate Finance Department Securities and Exchange Board of India SEBI Bhavan, P...

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Posted Under: Corporate Law |

ICSI relaxes conditions related to Practical training & switchover of training

Notification No. ICSI/TRG/2020 (03/08/2020)

The period for compulsory switchover of training as prescribed under regulation 46BA of the Company Secretaries (Amendment) Regulations, 2020 is extended further for a period of six months e. upto 2nd February 2021....

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Merging of June 2020 to December 2020 CS Examination: FAQs

Institute of Company Secretaries of India Q 1. Will December 2020 be the last attempt for Executive & Professional [Old Course] Students? Ans: Yes, December 2020 Session of Examination is the last attempt for Executive & Professional Old Course Q 2. When Students can change the Examination Centre, Module, Medium ? Ans: For Changes...

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Posted Under: Corporate Law |

ICSI Enrolment Guidelines for December, 2020 Examination

All Foundation, Executive and Professional Programme students eligible for appearing in December,2020 Session of Examinations are advised to go through the following important guidelines to be followed by them during the examination enrollment and while appearing in the examinations. Students are advised to take note of the same for stri...

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Posted Under: Corporate Law |

ICSI relaxes requirement of Complying with Pre-Examination Test

RELAXATION FOR COMPLYING WITH THE REQUIREMENT OF PRE-EXAMINATION TEST AND ONE DAY ORIENTATION PROGRAMME FOR ENROLLMENT TO COMPANY SECRETARIES EXAMINATIONS, DECEMBER 2020 SESSION (IN VIEW OF UNPRECEDENTED CRISIS IN THE COUNTRY DUE TO CORONA VIRUS OUTBREAK)...

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Posted Under: Corporate Law |

10 recent Important decisions taken by Council of ICSI

Granting One More Attempt to Executive Progrmme (2012 old Syllabus) and Professional Programme (2012 Old Syllabus) Students in December, 2020 Session of Examinations. The Council approved to grant one more attempt to Executive Programme (2012 old syllabus) and Professional Programme (2012 old syllabus) students in December, 2020 session ...

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Posted Under: Corporate Law |

ICSI merges June 2020 Examinations with December 2020

ICSI has decided to merge the June, 2020 session ICSI Examinations with the December, 2020 Examinations as under : 1. ICSI Examinations for the June 2020 session which has been merged with the December, 2020 Examinations shall commence from 21st December, 2020 as per the Examination Time-table which will be released separately....

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Posted Under: Corporate Law |

Request for relief under Companies Fresh Start Scheme, 2020

We wish to draw you kind attention towards Circular No 11/2020, dated March 24, 2020 and further Circular No. 12/2020 dated March 30, 2020, issued by the Ministry of Corporate Affairs ('MCA'), wherein a Scheme has been introduced namely the Companies Fresh Start Scheme, 2020 ('Scheme').The Scheme is applicable for the period from April 1,...

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Posted Under: Corporate Law |

Payment of Annual ICSI Membership & COP Fee For FY 2020-2021

The annual membership and certificate of practice fee for FY 2020-21 has become payable w.e.f. 1st April, 2020, the last date for receiving both payment has been extended till 30th September, 2020 without additional Restoration and Entrance fees....

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Posted Under: Corporate Law |

ICSI requests to extend relaxation period of Company Law compliances

MCA has also vide its Circular dated 15th June, 2020 extended the period for holding EGM through Video Conferencing or other Audio Visual Means from 30th June, 2020 to 30th September, 2020. On account of ongoing restrictions due to COVID-19, we request you to kindly consider further extension of period of relaxation for the following prov...

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Posted Under: Corporate Law |

Extend due date for filing under Regulation 24A of LODR Regulations

Company Secretaries in Practice are also facing same difficulties in the issuance of the Annual Secretarial Compliance Report as been faced by the Auditors due to continuing lockdown in the Country particularly in the State of Tamilnadu, location of the listed companies, its subsidiaries and associates in containment zones and other opera...

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Posted Under: Corporate Law |

ICSI Request for granting relaxation in filing e-form MGT-14

There remained practical difficulties in filing e Form MGT 14, e Form CHG-1 and e Form CHG-9, wherein the requirement of obtaining condonation of delay, for filing beyond 300 days / 120 days, as the case may be, remain unchanged....

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Posted Under: Corporate Law |

Impact of Bhagavad Gita on Board’s Decisions

CORONA AND KARUNA! The unprecedented reversal in our life in the form of COVID-19 has thrusted the humanity in to inward journey! The miseries of the people worldwide forced everyone seeking spiritual remedy to this mysterious malaise! The latent impact of COVID 19 has shaken the base of Corporate world also beyond reasonable repair. Henc...

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Posted Under: Corporate Law |

ICSI allows students to opt December 2020 exam session

ICSI decided as under: 1. To allow such students to opt December 2020 exam session, instead of June 2020 exam session. 2. Carry forward the examination fee already paid by the students for the module for which they have enrolled for June 2020 Session....

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Posted Under: Corporate Law |

ICSI Postpones CS Examinations, June-2020 Session

ICSI further postpone its June-2020 Session Examinations of Foundation Programme, Executive Programme, Professional Programme and Post Membership Qualification (PMQ) scheduled to be held from 6th July to 16th July, 2020....

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Posted Under: Corporate Law |

ICSI advisory on CS exam postponement request on Social Media

It is noticed by the Institute that few members and students of the Institute are posting and circulating videos and messages on social media platforms (YouTube; WhatsApp; Facebook; Instagram; Twitter etc.) asking thereby for cancellation / postponement of aforesaid Examinations scheduled to held from 6th July, 2020....

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Posted Under: Corporate Law |

Guidance on applicability of SS-1 and SS-2

Clarification/ Guidance on applicability of Secretarial Standards on Meetings of the Board of Directors (SS-1) and General Meetings (SS-2). As you are aware, Section 118(10) of the Companies Act, 2013 provides for mandatory observance of SS-1 and SS-2 by all companies....

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Posted Under: Corporate Law |

Amendment in constitution of Quality Review Board of ICSI

Notification No. G.S.R. 339(E) (01/06/2020)

MINISTRY OF CORPORATE AFFAIRS NOTIFICATION New Delhi, the 1st June, 2020 G.S.R. 339(E).—In exercise of the powers conferred by section 29A of the Company Secretaries Act, 1980 (56 of 1980), read with sub-rule (1) of rule 8 of the Company Secretaries Procedures of Meetings of Quality Review Board, and Terms and Conditions of Service and ...

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Practical Insights on Drafting of Commercial Contracts

Over the last decade, substantial quantum of commercial disputes opted for Alternative dispute resolution (ADR) than the litigation which incurs enormous time and whopping an average 39% cost of the claim value! It is obvious from the milestone amendments to the Arbitration and Conciliation Act 1996 to facilitate seamless remedy via ADR m...

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Posted Under: Corporate Law |

ICSI Requests amendment in GST law due to COVID 19

It is further requested that time of supply of goods or services or both be defined as receipt of money or money equivalent towards supply of goods or services or both and the supplier discharges tax liability on receipt basis proportionate to amount received, inclusive tax. Similarly, a supplier shall avail Input Tax Credit (ITC) proport...

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Posted Under: Corporate Law |

ICSI Requests MCA for Relaxations from Company Law Compliance

The Institute of Company Secretaries of India (ICSI) on 30th April, 2020 has made a Request to Shri Injeti Srinivas, IAS Secretary Ministry of Corporate Affairs, for relaxations in the provisions of the Companies Act, 2013 due to COVID-19 Due to COVID-19 outbreak and lockdown situation prevailing in the Country, various provisions of the ...

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Posted Under: Corporate Law |

ICSI (Continuous Professional Education) Guidelines, 2019

ICSI has issued New Guidelines for Yearly Credit Hours for Financial year w.e.f. 01st April, 2020. These guidelines came into effect from 01st April, 2020. New Credit Hour Requirements: It is mandatory for all members of the Institute, except those specified in para 5.1 of guidelines (also mentioned below) to secure 20 CPE Credits in [&he...

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Posted Under: Corporate Law |

ICSI Postpones CS Examinations, June-2020 session

ICSI vide a press release postponed CS Examinations, June-2020 session, which were suppose to commence on from 1st June,2020.  CS examinations of the June-2020 session will now commence from 6th July, 2020. The Revised schedule will be announced later by ICSI. Full Text of the Press Release by ICSI is as follows:- THE INSTITUTE OF [&hell...

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Posted Under: Corporate Law |

Relax FEMA compliance due to COVID-19 pandemic: ICSI

ICSI made a representation to RBI GOvernor requesting Relaxation from compliance with provisions of Foreign Exchange Management Act, 1999 (FEMA) due to the COVID-19 pandemic. Text of the Same is as follows:- Institute of Company Secretaries of India ICSI:PFP: 2020 April 16, 2020 Shri Shaktikanta Das Governor Reserve Bank of India Central ...

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Posted Under: Corporate Law |

ICSI Clarification on Secretarial Standards (SS-1 & SS-2) Due to COVID19

Overview: The Institute of Company Secretaries of India (ICSI) on 15th April, 2020 has issued Clarification/Guidance on applicability of Secretarial Standards on Meetings of the Board of Directors (SS-1) and General Meetings (SS-2) Due to COVID-19 outbreak and lockdown situation prevailing in the Country, various provisions of the Compani...

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Posted Under: Corporate Law |

Relax Regulation for Depositories and Participants: ICSI

ICSI Request for relaxation from compliance with the provisions of Regulation 76 of the SEBI (Depositories and Participants) Regulations, 2018...

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Posted Under: Corporate Law |

DID You Know these about ICSI Website?

The Institute of Company Secretaries of India (ICSI) is the only recognized professional body in India to develop and regulate the profession of Company Secretaries in India. It is a premier national professional body set up under an act of Parliament, the Company Secretaries Act, 1980. ICSI functions under the jurisdiction of the Ministr...

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Posted Under: Corporate Law |

ICSI Clarifies on applicability of Secretarial Standards on Meetings

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) 03.04.2020 Dear Professional Colleagues, Subject: Clarification/ Guidance on applicability of Secretarial Standards on Meetings of the Board of Directors ...

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Posted Under: Corporate Law |

Relax compliance of Regulation 76 of SEBI- ICSI to NSDl & CDSL

ICSI Request for relaxation from compliance with the provisions of Regulation 76 of the SEBI (Depositories and Participants) Regulations, 2018 to CDSL and NSDL....

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Posted Under: Corporate Law |

ICSI Auditing Standards (CSAS)

The Auditing Standards were formulated by Auditing Standard Board of Institute of Company Secretaries of India  and issued by Council of ICSI. These Auditing Standards is effective from 01, July 2019 but on re commendatory basis , these are made mandatory from 01, April , 2020. These standards are applicable for audit by Practicing Com...

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Posted Under: Corporate Law |

Mandatory applicability of CSAS-1 to CSAS-4 extended to 01.10.2020

Mandatory applicability of ICSI Auditing Standards CSAS-1 to CSAS-4 is hereby extended for Audit Engagements accepted by the Auditor on or after 1st October, 2020....

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Posted Under: Corporate Law |

Board Meeting Through Video Conference

We are here to discuss on the conducting the board meeting through video conferencing and following steps to be follow by each and every director of the company while conducting the Board Meeting through video conferencing....

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Posted Under: Corporate Law |

Facilitation measures undertaken by Regulatory Authorities- COVID-19- ICSI

Developments arising due to the spread of the COVID-19 virus have warranted the need for temporary relaxations in compliance requirements and other facilitation measures. The measures undertaken by both, the Ministry of Corporate Affairs and the Securities and Exchange Board of India are placed hereinbelow:...

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Posted Under: Corporate Law |

ICSI extends last date for online Submission of June 2020 Exam Form

Extension of Last Date for Online Submission of examination form at https://smash.icsi.in/ for June, 2020 session of CS Examinations to 5th April 2020 without any late fees and 15th April 2020 with Late Fees...

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Posted Under: Corporate Law |

ICSI on Company Affirmation of Readiness towards COVID-19

MCA has deployed a simple web form for companies/LLPs to confirm their readiness to deal with the COVID-19 threat. The web form named CAR (Company Affirmation of Readiness towards COVID-19) is required to be filed by authorized signatory of company/LLP....

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Posted Under: Corporate Law |

ICSI Request for relaxation in filing of ROC forms & compliances

While fully appreciating the measures undertaken by the Ministry of Corporate Affairs allowing the Companies to hold their Board Meetings through audio visual means even for the restricted items till 30th June 2020, taking cognizance of the gravity of the public health situation, we request your good-self to kindly consider the relaxation...

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Posted Under: Corporate Law |

ICSI Auditing Standard Mandatory from 1st April, 2020

Institute of Company Secretaries of India ICSI has issued Auditing Standard for audit by ‘Practicing Company Secretary” . These standards issued by ICSI. These standards were effective from 1st July, 2019. However, from 1st July,2019 it was recommendatory. These standards are mandatory w.e.f. 1st April, 2020. Important Note: ** These ...

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Posted Under: Corporate Law |

Guidance notes on ICSI auditing standards

GUIDANCE NOTES ON ICSI AUDITING STANDARDS ICSI Auditing Standards aims to support the Company Secretaries in developing auditing acumen, techniques and tools and inculcate best auditing practices while conducting the audit and promote standardisation and uniformity in the professional arena. The Institute of Company Secretaries of India h...

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Posted Under: Corporate Law |

ICSI Auditing Standars For Professionals

ICSI has issued the first four Auditing Standards which are mandatorily applicable to the auditor on or after 1st April, 2020. The first three Standards will be applicable to all kinds of audit engagements and the fourth one will specifically be applicable for the Secretarial Audit under section 204 of the Companies Act, 2013....

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Posted Under: Corporate Law |

Allow companies to consider Restricted Matters via video conferencing: ICSI

ICSI has made a request to MCA to allow participation of directors in a meeting through video conferencing or other audio visual means in which following Restricted matters can be discussed which are otherwise not allowed- a) the approval of the annual financial statements; (b) the approval of the Board’s report; (c) the approval of...

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Posted Under: Corporate Law |

Appellate Authority shows displeasure for use of it to recover dues

Aakansha Vaid Vs ICSI (Appellate Authority of ICSI)

Aakansha Vaid Vs ICSI (Appellate Authority of ICSI) he Authority records its displeasure about the conduct of the Complainant during the entire proceedings. The Complainant lodged a comprehensive Complaint supported with several documents before the Institute on 3rd August 2017. He sent letter dated 1st September 2017 providing certain in...

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New Regulations Including CSEET (CS Executive Entrance Test): FAQs

Q.1 Will the new admissions to Foundation Programme be discontinued after introduction of new regulations / CS Executive Entrance Test (CSEET)? Ans: Yes. New admissions to Foundation Programme will be discontinued after introduction of new regulations and the CSEET shall be introduced as a qualifying test for registration to Executive Pr...

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Posted Under: Corporate Law |

ICSI Allowed Multidisciplinary Firm opening by CS In Practice?

ICSI came with amendment Company Secretaries (Amendment) Regulations, 2020. Under this amendment it seems that, now a Practicing Member (COP Holder) of Institute of Company Secretaries of India (ICSI) can enter into partnership with Chartered Accountant, Cost and Works Accountants, Advocates etc....

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Posted Under: Corporate Law |

Major Changes in CS Student Registration, Examination, Enrollment Regulation

MAJOR CHANGES IN THE PROCESSES/ GUIDELINES PERTAINING TO STUDENT REGISTRATION, EXAMINATION ENROLLMENT, ETC. PURSUANT TO ISSUE OF COMPANY SECRETARIES (AMENDMENT) REGULATIONS, 2020...

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Posted Under: Corporate Law |

Prescribe period of sixty days for filing of financial statement: ICSI

Provision of Section 137(1) of the Companies Act, 2013 requiring filing of financial statement within thirty days of the date of annual general meeting may be considered for amendment by prescribing a period of sixty days for such filing, aligning it with the date of filing of annual return....

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Posted Under: Corporate Law |

Company Secretaries (Amendment) Regulations, 2020

Notification No. No. 710/1 (M)/1 (03/02/2020)

1. (1) These Regulations may be called the Company Secretaries (Amendment) Regulations, 2020. (2) They shall come into force on the date of their final publication in the Official Gazette....

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ICSI requests MCA to reconsider changes related to CS appointment

we humbly request your good office to kindly consider further amendment in Rule 8A of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2013, taking into consideration inserting the following in place of the existing provision:...

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Posted Under: Corporate Law |

20 FAQs on Independent Directors under Companies Act, 2013

Q.1 Whether Practicing Company Secretary gets appointment as Independent Director? Ans. Independent Director is Non-executive Director and a Practicing Company Secretary can be appointing as Independent Director. Q.2 Whether Company Secretary in employment gets appointment as Independent Director in another Company? Ans. Independent Direc...

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Posted Under: Corporate Law |

ICSI Guidelines on Advertisement by Company Secretary- Analysis

Institute of Company Secretaries of India has revised Guidelines for Advertisement by Company Secretary. These guidelines includes details of permitted and restricted advertisements. Guidelines for Websites of Professionals. *Most Imp: The Company Secretary or a firm of Company Secretaries shall not list his/her service(s) on any aggregat...

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Posted Under: Corporate Law |

New President and Vice President of ICSI for 2020

New President and Vice President of the Institute of Company Secretaries of India (ICSI) for 2020. CS Ashish Garg, a Fellow Member of the Institute has been elected as President of the Institute of Company Secretaries of India for the year 2020 w.e.f. 19th January, 2020. CS Nagendra D Rao, a Fellow Member of the Institute has been elected...

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Posted Under: Corporate Law |

CS Foundation Examination exam result on 25th January, 2020

Declaration of Result of CS Foundation Programme Examination December, 2019 The Result of CS Foundation Programme examination held on 28th and 29th December, 2019 would be declared on Saturday, the 25th January, 2020 at 11:00 A.M. The result along with individual candidate’s subject-wise break-up of marks will be available on the Instit...

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Posted Under: Corporate Law |

ICSI Guidelines for Attire and Conduct of Company Secretaries, 2020

ICSI Guidelines for Attire and Conduct of Company Secretaries, 2020  shall be applicable on all company secretaries appearing before  any statutory body, courts, tribunals or quasi judicial bodies on behalf of their employer or their clients. ICSI Guidelines for Attire and Conduct of Company Secretaries, 2020 shall supersede the Guideli...

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Posted Under: Corporate Law |

ICSI Guidance on Scale of Fees for Professional Services, 2020

ICSI Guidance on Scale of Fees for Professional Services, 2020 contains inter alia the scope of various professional services and the guiding principles for fixing the scale of fee would ensure transparency between the client and the PCS and also pave the way for a just and reasonable scale of fees to be charged by […]...

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Posted Under: Corporate Law |

ICSI (Guidelines for Advertisement by Company Secretaries), 2020

ICSI (Guidelines for Advertisement by Company Secretaries), 2020 shall be applicable to all advertisements by members of the Institute rendering any advisory, consultancy or representation services whether holding Certificate of Practice issued by the Council of the Institute or otherwise....

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Posted Under: Corporate Law |

ICSI Guidance Note on Prevention of Insider Trading

The act of Insider Trading does not only shake the capital markets, but also impacts the genuine Investors and the country’s economic growth. Various committees constituted by the Government have recommended measures to prohibit the practice of insider trading and the need to regulate the same. To deal with market abuse related to “in...

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Posted Under: Corporate Law |

Guidance Notes on ICSI Auditing Standards (CSAS-1 to CSAS-3)

ICSI Auditing Standards aims to support the Company Secretaries in developing auditing acumen, techniques and tools and inculcate best auditing practices while conducting the audit and promote standardisation and uniformity in the professional arena. The Institute of Company Secretaries of India has issued the first four Auditing Standard...

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Posted Under: Corporate Law |

Role of Company Secretary in Hotel Industry

Often the role of a Company Secretary is substituted with compliances and hence this write up is a small effort to compile the compliances which a hotel industry is bound to adhere with respect to a role of a cs. Having worked with this sector as a whole time company secretary, I have tried to […]...

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Posted Under: Corporate Law |

ICSI representation on recent change in CS Appointment limit

This has reference to Ministry's Notification dated 3rd January, 2020 amending the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014 thereby altering the limits for mandatory appointment of Whole-Time Company Secretaries from rupees 5 (five) crore to rupees 10 (ten) crore....

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Posted Under: Corporate Law |

You Must Know About DIN / UDIN / eCSIN used by Different Regulators in India

Identity plays an important role in this world. As the world is moving towards digitalization, it is important to have a digital identity of a document to brings transparency and identification between original and fake. In this regard, we are summarised the following i.r.t. systems implemented in India by the different regulators, to pr...

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Posted Under: Corporate Law |

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