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Saturday, February 28, 2009

Company Secretary (ICSI) Executive & Professional Programme daily/crash classes for June/December 2009 exams


CS CRASH BATCHES FOR JUNE 2009 EXAMS - Company Secretary Professional Programme

Professional Module




Corporate Restructuring & Insolvency

12 to 6 PM on 18th & 19th April 2009


Strategic Management, Alliances & International Trade (World Trade Organisation)

12 to 6 PM on 25th & 26th April 2009


Financial, Treasury & Forex Management

8 AM to 1 PM & 2 to 7 PM on 2 & 3rd May 2009


Drafting, Appearances & Pleadings

6 AM to 12 noon on 9th & 10th May 2009












CS CRASH BATCHES FOR JUNE 2009 EXAMS - Company Secretary Executive Programme

Executive Module




Economic & Labour Laws

12 to 6 PM on 9th & 10th May 2009


Securities Laws & Compliances

6 AM to 12 noon on 16th & 17th May 2009


  • Rs.1000 PER subject for CS Executive Program
  • Rs.1200 PER subject for CS Professional Program

Professional Module




Company Secretarial Practice

Every Monday 0630AM to 0830AM


Strategic Management, Alliances & International Trade

Every Tuesday 0630AM to 0830AM


Due Diligence & Corporate Compliance Management

Every Wednesday 0630AM to 0830AM


Corporate Restructuring & Insolvency

Every Thursday 0630AM to 0830AM


Governance, Business Ethics & Sustainability

Every Friday 0630AM to 0830AM


Advanced Tax Laws & Practice

Every Saturday 0630AM to 11AM


Drafting, Appearances & Pleadings

Every Saturday 0630PM to 0830PM


Financial, Treasury & Forex Management

Every Sunday 8AM to 12NOON

DURATION – 15th June to 31st August 2009

FEES – Rs. 2000 PER subject OR Rs. 15000 for all 8 subjects




Days with Us



General & Commercial Laws

Saturday's & Sundays

0630-0830 PM & AM


Company accounts, Cost & Management accounting


8AM to 12 NOON


Tax Laws


0630AM to 11AM


Company Law

Monday's & Tuesday's

0630 AM to 0830 AM


Economic & Labour Laws

Wednesday's & Thursday's

0630 AM to 0830 AM


Securities Laws & Compliances

Friday's & Saturday's

0630 AM to 0830 AM

DURATION – 1st September to 31st October 2009

FEES – Rs. 2000 PER subject OR Rs. 5300 PER MODULE

CS executive & professional program
DURATION – 2 DAYS PER SUBJECT FROM 20th October onwards
Contact: Learn Labz, 128, Veeraperumal Koil Street, Mylapore, Chennai.
Call Vijay @ +91 93829 35598

Friday, February 27, 2009

You can verify your marks of Company Secretary (ICSI) results now, if dissatisfied

Not satisfied with your marks, appeal to ICSI and there is a limitation period of 1 month. Just pay Rs.250/- per paper and write a covering letter, use this as a sample or use (fees increased from Rs.100 to Rs.250/-) and its not a revaluation but it is in the nature of re-totalling or verification.

In terms of regulation 46 (2) of 'The Company Secretaries Regulations, 1982', as in force, a candidate can seek verification of marks in any subject(s) of June/December examination within one month from the date of declaration of results. The application for verification of marks should be made on a plain paper, preferably in candidate's own handwriting together with requisite fee @ Rs.250/- per subject within 30 days from the date of declaration of results,
i.e., upto 25th September/March. Candidates are advised not to club any other remittance or query along with request for verification of marks to facilitate an early reply.

After completion of verification process, candidates are communicated outcome of verification of marks, normally within 2-3 weeks' time. However, if a candidate does not receive any communication by 20
th October/April, he/she should write to the Sr. Director (Exams.) giving relevant details with regard to –
(i) his/her name; (ii) student registration number; (iii) stage of examination and roll number; (iv) name of the subject(s) in which verification of marks was sought; (v) date of application and mode of its despatch;
(vi) amount of verification fee and details with regard to mode of remittance; (vii) contact Telephone/Mobile No.(s) and (viii) complete postal address along with PIN Code.
Enjoy passin...

Wednesday, February 25, 2009

What next after CSexam results,be ready to face the next level,be prepared as v r Company Secretaries

Candidates registered upto and including the month of February in a year are eligible for appearing in both the groups of the Intermediate examination held in December of that year. So, its mandatory for you to submit prescribed forms before 28th February 2009 to appear for all modules in December 2009.


Before visiting the nearest ICSI office, make sure you are ready with following things:

For Foundation passed:
  1. Click here to register online for CS Executive Program Application - and arrange for fees as per
  2. To enjoy Executive Program Classes in Chennai, you can visit Learn Labz @ 128, Veeraperumal Koil Street, Mylapore, Chennai and catch Vijay on +91 93829 35598
    Very soon, Updated Books will be made available for all subjects of Module II of CS Executive Program, keep tracking.

For Executive passed:

  1. Click here to download & fill CS Professional Program Application - and arrange for fees as per Apply for Training Orientation Program (TOP) and find details from nearest ICSI - (its a mandatory pre-requisite to commence CS Training). It is a 5 full day program offered at ICSI and your training will commence only on completion of this program
  2. Then, start sending emails & applications of RESUME for CS Training through and follow as below,
    • For Practising Company Secretaries - Look for the heading "Combination Search", Enter your city & Click on "CP Directory", then Submit
    • Company Secretaries in employment - Look for the heading "Combination Search", Enter your city & Click on "Member Directory", then Submit
  3. For 15-month CS Training related information, you can click
  4. Start looking out for Academic Development Programs (ADP) as its mandatory to attend for 25 hours or you have the option to attend National Convention of ICSI -
  5. To enjoy Professional Program Classes in Chennai, you can visit Learn Labz @ 128, Veeraperumal Koil Street, Mylapore, Chennai and catch Vijay on +91 93829 35598
For Professional passed:
  1. Pending Training you are eligible for Licentiate Membership of ICSI - and you will get Chartered Secretary (Members magazine) free of cost.
  2. Complete your CS Training or Claim exemption from it following
  3. Complete RoC Training or Stock Exchange training, if applicable
  4. Complete ADP's, if applicable & pending
  5. Then, apply for the esteemed membership of ICSI following,
Hope, I have not missed out anything. Of course, you can keep track of all updates, happenings and all about Company Secretaries by following and Get See Yes -> Yes, ACS delivered by email

Download SEBI DIP Guidelines as on 24th February 2009 with Amendments, Update & its Understanding with respect to offer document, preferential, etc...

The SEBI (Disclosure & Investor Protection) Guidelines amended on 24th February 2009 and click here to download the amended full SEBI (DIP) Guidelines, 2009 @

Major highlights by CS Adhithya of Cool CS:

  1. Timelimit for bonus issue reduced to 15/60 days from the date of Board meeting [erstwhile 6 months]
  2. Enhanced the period of validity of observation letter issued by SEBI to 12 months [erstwhile 3 months]
  3. Floor price or price band can be announced after registration of RHP with RoC but 2 working days before issue opens
  4. Enhanced the upfront amount payable on Preferntial allotment from 10 to 25%

The brief of the amendments are as under:

Opening of Public Issue

An issue shall open within 12 months from the date of issuance of the observation letter by SEBI, if any or within 3 months from the 31st day from the date of filing of the draft offer document with SEBI, if no observation letter is issued.

Requirement of filing updated offer document

File an updated offer document with SEBI, highlighting all changes made in the document and in case of 'significant changes' in the offer document, it shall be filed with SEBI atleast 1 month before filing final prospectus with RoC/SE;

Change in Timelines of Bonus Issue

Shall be completed WITHIN 60 days from the Date of Board Resolution, where-in bonus was announced subject to Shareholders approval OR WITHIN 15 days from the Date of Board Resolution authorising such issue. Once resolved, the board shall not have the option of changing the decision.

Option not to disclose the floor price or price band

Where the issuer has not disclosed floor price or price band in prospectus filed with RoC/SE, it shall be disclosed atleast 2 working days before opening of the bid in case of IPO and atleast 1 working day before the opening of the bid in case of FPO, by way of an announcement in all thenewspapers in which the pre-issue advertisement was released by the issuer or the merchant banker;

Justification for Price in some cases

Justification for price is required to be given in the Offer Document and further, if the Issuer has not disclosed floor price or price band in the prospectus and taken an option to disclose it before 2 working days (for IPO) or 1 working day (for FPO) before opening of an issue, then, announcement shall contain the relevant financial ratios, computed for both upper and lower end of the price band and the basis of issue price or prescribed statements to guide investors in RHP which are,

(a) a statement that the floor price or price band, as the case may be, shall be disclosed at least two working days (in case of an initial public offer) and at least one working day (in case of a further public offer) before the opening of the bid);

(b) a statement that the investors may be guided in the meantime by the secondary market prices (in case of a further public issue);

(c) names and editions of the newspapers where the announcement of the floor price or price band would be made;

(d) names of websites (with address), journals or other media in which the said announcement will be made.

Preferential Allotment of Warrants

For preferential allotment of warrants minimum 25% paid at the time of allotment upfront and if warrant is not exercised, then such 25% money is forfeited.

Lock-in Requirements under Preferential Issue

Shares issued to Promoters (UPTO 20% Post-Issue Capital)

Lock-in for 3 years

Total Post-Issue Capital UPTO 20%

Lock-in for 3 years

Shares issued as Preferential allotment to promoter or promoter group [other than above] or to others

Lock-in for 1 year

Note: Lock-in of convertible instruments (other than Warrants) shall be reduced to the extent of lock-in of such convertible instruments.

Requirements when listed less than 6 months & lock-in

If the Co is listed for less than 6 months, then for such issue (other than to QIB's upto 5) consider the highest of IPO price or Value per share as 391 to 394 Scheme or average weekly high & low closing prices of such period or 2 weeks preceeding relevant date and recompute the price after 6 months, the difference shall be paid by the allottees to the company, otherwise such securities shall continue lock-in till the amount is paid.

Impact of Relaxation under Regulations 29A of Takeover Code

Shareholder (to whom preferential allotment is made) should not have sold such shares during last 6 months (unless relaxed u/R 29A of SEBI Takeover Code).

Preferential Allotment should be completed WITHIN fifteen days from the passing of the resolution (unless relaxed u/R 29A of SEBI Takeover Code).

Copies of Certificate of Statutory Auditor of the Company (Pracitsing CA certificate is allowed only when relaxation u/R 29A of SEBI Takeover Code) certifying that such issue is in compliance with the requirements of the SEBI guidelines, has to be laid @ the General Meeting convened to get the approval for issue of shares.

In case of relaxations granted under Regulation 29A of SEBI Takeover Code, the requirements regarding pricing, lock-in, disclosures in explanatory statement and Certification shall not be applicable to preferential allotment of equity shares, fully convertible debenture and partly convertible debentures ONLY IF an adequate disclosure about the plan is given in the Explanatory Statement.

Exemption from Rule 19(2)(b)

There is a relaxation of the strict enforcement of requirements of rule 19(2)(b) [requirement of 25% of offer to public on initial listing] of the SCRR, 1957 where an unlisted company intends to list its shares issued to the shareholders of a listed company pursuant to a scheme of arrangement approved by a High Court, without making an initial public offer OR for proposal for listing of Equity shares with differential rights as to dividend, voting or otherwise, offered through rights or bonus issue OR Warrants issued along with Non Convertible Debentures through Qualified Institutions Placement by a listed issuer.
Click here to see the applicability of the amendments @

Tuesday, February 24, 2009

Find your Company Secretary (ICSI) exam results on 25th February @ 12 noon for December 2008 exams


The results of the Foundation Course, Intermediate and Final (OldSyllabus) and Foundation Programme and Executive Programme(New Syllabus) examinations of the company secretaries held inDecember, 2008 are scheduled to be declared at 12.00 Noon on25th February, 2009. The results would be displayed in the followingmanners:

(i) All-India Results (Roll Nos. List of successful candidateswill be displayed simultaneously on the Notice Boards atthe Institute's Headquarters and Offices of the RegionalCouncils;

(ii) Centrewise Results — Printed Roll Number List ofSuccessful Candidates related to city concerned of theChapter(s) would be sent to respective Chapter(s) foronward transmission to the Examination Centre(s) fordisplay on the Notice Boards of the Chapter(s) as well asExamination Centre(s); and

(iii) The results will also be available on Institute's Website on 25th February, 2009 after 12.00 Noon.

Click here to get ICSI Company Secretary result for Foundation, Inter/Executive and Final/Professional program results by email -->

To enjoy CS classes visit or

All the best! Enjoy passin... Do scrap your jolly results. Also share your experiences.

Sunday, February 22, 2009

SEBI consents with UBS means its a Consent Order

SEBI, Swiss co UBS settle dispute on consent terms, what does this mean?
for a CS Executive Students doing Securities Law.

Yes, Consent Order is an order passed by SEBI which are NOT appealable to SAT. That is, orders passed with the consent of both the parties (one of the party being SEBI). It is similar to compounding under Companies Act or other Acts, where both the parties enter into settlement terms for a feasbile sum.

Try reading through the consent order of UBS in and the case is explained well in

In the consent order, you may find SEBI Circular No. EFD/ED/Cir-1/2007 dated April 20, 2007 which is the circular empowering SEBI to enter into Consent Order, for which the party has to apply in Form A.

Understand, the difference between Consent Order & Compounding now.
Sec 15T of SEBI Act
Sec 24A of SEBI Act
For administrative / civil proceedings
For criminal prosecutions; NOT being an offence punishable with imprisonment only OR imprisonment & fine
Application at any stage where probable cause of violation has been found
Application before / after institution of proceedings
To appropriate sanction, remedy & deterrence WITHOUT resorting to litigation, lengthy proceedings & consequential delays
To avoid lengthy process, which would save cost, time, mental, agony, etc…in return for payment of compounding charges

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