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Saturday, February 25, 2012

Revaluation of CS Results & what next after passing Company Secretary Exams 2012 & to appear for December, Register with ICSI before February 29th 2012

The results of the CS Foundation Programme, Intermediate/Executive Programme and Professional Programme examinations of the Company Secretaries held in December, 2011 are scheduled to be declared at 11.00 Noon on 25th February, 2012 and it released on time.
Result is available on the following servers.
CS Exam Result – December 2012 Session


When candidates who cleared this level can go to the next level of CS Exams? Candidates registered upto and including the month of February in a year are eligible for appearing in both the groups of the Executive Programme or all 4 modules of Professional Programme examination held in December of next year. So, its mandatory for you to submit prescribed forms before February 29, 2012 to appear for all modules in December 2012.  You shall also complete Student Induction Programme (SIP), Executive Development Programme (EDP)  and Professional Development Programme (PDP).  Details in

Preserve your Mark sheets as NO more CS Pass Certificates for Foundation & Executive will be issued by ICSI on passing Company Secretary Exams but for Professional Program

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

For Foundation passed:

  1. Get to know your subjects and classes schedules at
  2. Register for Computer Training with Sify or produce your Certificates to write Exemption exam:
  3. Enroll for or get Exemption from Student Induction Programme (SIP), a 7 full day program with ICSI which shall be completed within 6 months.  Details in &
  4. Enjoy reading CS Executive Programme books Only This Much for Company, Economic, Labour & Securities Law from

For Executive passed:

  1. Click here to register online for CS Executive Program Application - OR Click here to download & fill CS Professional Program Application - and arrange for fees as per Apply for Executive Development Program (EDP) and find details from nearest ICSI - (its a mandatory pre-requisite to commence CS Training). EDP is a 8 full day program offered at ICSI and your training will commence only on completion of this program. Details in
  2. Then, start sending emails & applications of RESUME for CS Training to
  3. For 15-month CS Training related information, you can visit
  4. Start looking out for Professional Development Programs (PDP) as its mandatory to attend for 25 hours or you have the option to register for National Convention of ICSI.
  5. Get to know your subjects and classes schedules at
  6. Enjoy reading CS Professional books for all law subjects @

For Professional passed:

  1. Collect & preserve your Marksheets & Pass certificates as per
  2. Pending Training you are eligible for Licentiate Membership of ICSI - and you will get Chartered Secretary (Members magazine) free of cost.
  3. Complete your CS Training or Claim exemption from it following
  4. Complete RoC Training or Stock Exchange training, if applicable. Send e-mail to to get the sponsorship letter.
  5. Complete 25 hours PDP's, 15 full days MSOP’s, etc… in
  6. Then, apply for the esteemed membership of ICSI following,
Are you not satisfied with your CS results? then apply for Verification of marks (casually called revaluation or re-counting) within 30 days from today (ie) within 30 days from declaration of CS results by sending Rs. 250 DD per subject.  For more details, visit
Do you wish to get COPY of your answer sheets? then apply for Certified Copy of Answer Books for the exam WITHIN 45 days of declaration of CS results by sending Rs.500/- DD per subject. For the application form, visit
Enjoy passin... 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

Tuesday, February 7, 2012

KnowLaw on International Issue of securities through ADR/GDR/FCCB and listing in foreign stock exchanges

Know Law

Labz India Notification 12 of 2012

A written-cum-video initiative to know your corporate legal position as on date



Legal Queries???



How to utilize & escalate your company’s resources? Are you confident that you have utilised the company's resource to the fullest potential!!!  What is your market capitalisation of the company? Do you want your declaration of financial results to be a national affair? Have you exploited all sources of funding for your business? Whether your company is enjoying a bigger brand value across the globe? Are you exploring the possibilities of various funding options internationally? How to raise money from abroad? Do you want to list your company in foreign stock exchanges like NASDAQ, London Stock Exchange, Australian Stock Exchange? Have you heard about depository receipts and how does it works? What are the instruments available ro raise money? Can foreigners invests in an Indian company through secondary market with less compliance requirement? Can an Indian company lists abroad without having any overseas branches of its office?



International Issue of securities through ADR/GDR/FCCB and listing in foreign stock exchanges

Raising money from abroad is a good option provided you have a feasible and viable project in hand, since there more investors abroad when compared to India. This option can be utilized by a company interested in capturing resources of international market, provided it complies with the criterion of past track record & performances as prescribed.

International Issue of securities through ADR/GDR/FCCB and listing in foreign stock exchanges requires approval under Company laws, Securities laws, FEMA regulations, approvals of FIPB and approvals of stock exchange from abroad and India. This process involves preparation of offer documents, appointment of market intermediaries like merchant banker, satisfying criterion with depositories and custodian banks in India and abroad, collecting investments, issuing shares and listing in stock exchanges abroad.  Read More...


Requirement under Indian laws on International Issue of securities through ADR/GDR/FCCB and listing in foreign stock exchanges:

Indian laws treat the depository receipt as foreign direct investment.  The law permits denomination of securities in freely convertible foreign currency and can be floated abroad in countries like United States, European Union, Australia with less procedural requirement the respective countries regulators like Securities Exchange Commission.  The FEMA regulations read with Depository receipt mechanism provides for issue of securities abroad and conversion of the bonds/instruments in foreign currency into underlying equity shares with voting rights in India after a cooling period through various intermediaries like Overseas Custodian Bank, Domestic depository in India, etc… In certain cases, the Ministry of Finance and Department of Economic Affairs may be required in addition to the one-time and periodical reporting requirement under Reserve Bank of India (RBI) regulations.


Myth buster on International Issue of securities through ADR/GDR/FCCB and listing in foreign stock exchanges:

Huge formalities involved as to lock-in period of securities, the limits on number of issues per year, the end-use restrictions & lot of regulatory approvals required!!!  No, the issue process is a plain vanilla procedure with simple conditions on issue expenses and two-stage reporting requirements like a foreign direct investment into India.  The value of money that can be raised as a tap issue or as tranches has no limit as per Indian laws.  Further, the amount so raised may be used for whatsoever purposes unless it is an instrument like Foreign Currency Convertible Bonds (FCCB’s) where there is a restriction as applicable to External Commercial Borrowings (ECB).   Even further, the procedural clearance abroad for issues in alternate investment market of their country is relatively simple.



Caution point on International Issue of securities through ADR/GDR/FCCB and listing in foreign stock exchanges!!!

The compliance of requirements of Indian Company law as to issue of shares shall be duly complied with and necessary e-forms are filed with Registrar of Companies on time. The pricing shall be done based on the date of meeting as to the closing average high & low prices of shares in Indian Stock Exchanges.  Agreements with intermediaries shall be entered into.  Care should be taken while drafting the Offering Circular, the prospectus like offer document which should provide for all information that is required for an investor to take decision.  The prior approval of Reserve Bank of India may be required based on the sectoral cap under Foreign Direct Investment Regulations.  Also ensure the in-principle approval for listing is obtained from the stock exchanges for issue of securities in India.  Even the benefit of double taxation avoidance agreement can be enjoyed for depository receipts.  Ensure the RBI reporting shall be done promptly on 30 days of closure of issue and a quarterly reporting within 15 days.   


WATCH LAWLABZ VIDEO on  International Issue of securities through ADR/GDR/FCCB and listing in foreign stock exchanges in India!!! (Click Here):


At Lawlabz, we offer 360O Personalized VIRTUAL Corporate Solutions by offering COMPLETE online legal support for your organization since its set-up as your entrepreneurial venture, during its management as a corporate entity or a manufacturing industry and closure of unwanted company’s which are not having any significant business of its own.

Legally Yours,

Happy Consulting with

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Saturday, February 4, 2012

Company Secretary Foundation Programme New Syllabus 2012 from December exams

CS Foundation Program New Syllabus from December 2012 exams. Get your along with CS Foundation course (Click here for more details). All graduates & post graduates (excluding Fine arts) are exempted from CS Foundation programme & even scholarships are provided based on 10+2 marks (click here for more details). Students who have cleared Chartered Accountancy Final exams or Cost Accountancy Final exams (CA/CMA final exams) are exempted from CS Foundation Program. Though applications are open throughout the year, apply before end of September for following year's June exams & apply before end of March for following December examination.

The minimum qualification shall be 10+2 schooling. The exams will be based on objective type questions and OMR sheets using paper-pencil mode and will be held twice a year on June (2 & 3) and December (26 & 27) for 2 full days every year for 2 hours per exam during morning & afternoon.

The Prospectus shall be Rs.200/- from Regional offices of ICSI or Rs.250/- by sending a post to ICSI House, 22, Institutional Area, Lodi Road, New Delhi-110003. The DD shall be made in the name of "The Institute of Company Secretaries of India" payable at New Delhi.

The registration fees for the entire course shall be Rs.3,600 and exam fees shall be Rs.875/- The helpline no. for ICSI is 011-41504444.

The subjects are:
1. Business Environment & Entrepreneurship (Paper1)
2. Business Management, Ethics & Communication (Paper 2)
3. Business Economics & Statistics (Paper 3)
4. Fundamentals of Accounting & Auditing (Paper 4)

The passing concept shall be 40% per subject with a total of 50% in all 4 subjects, in aggregate. Any score beyond 60% will enable paper-wise exemption for the further exams.

Enjoy applying,

Register online from by clicking New Student Registration under Log-in.

The details contents of CS Foundation Syllabus can be downloaded from:

Company Secretary Foundation Course New Syllabus 2012

CS Updatin...

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