Thank you all for making 1st year celebrations of Lawlabz & Learnlabz wonderful, thanks again for all the well wishes...

Yes Gurus, Professionals, Well wishers, Friends… A sincere thanks to every one of you who has helped us to make the 1st year celebration of Lawlabz, Learnlabz and OnlyThisMuch a grand one either in person or by proxy (wishes).

Further, we would like to place special thanks to our Parents who graced this occasion and LawLabz clients, LearnLabz Gurus and Company Secretary students.

It was indeed a very big experience to pass through an year with all your support and expecting your well wishes as ever. We would love to produce our best solutions to Xperiment, Xcel!!!

For those, who are impracticable to be physically present, do relish this:

http://www.lawlabz.com Photos Link

Thanks again by ANS Vijay & Team

GDR holder is not a member until transfer or redemption, neither Overseas Depository Bank is a nominee or beneficial owner – MCA clarification

Ministry of Corporate Affairs (MCA) vide its General Circular No. 1/2009 [No.17/67/2009 CL-V] dated 16th June 2009 has clarified that a Global Depository Receipt (GDR) holder is NOT a member as,

• Under Section 41(1) & 41(2) of Companies Act, 1956, a GDR holders name is neither entered as Subscriber to Memorandum (MoA) nor in Register of Members (RoM)
• Under Section 41(3) of Companies Act, 1956, a Overseas Depository Bank under GDR is neither a Depository (as per Depositories Act, 1996) nor holds share as a Beneficial Owner (BO).

Thus, holder of GDR may become a Member only on Transfer or Redemption into Underlying Equity Shares.  Though the underlying shares on transfer/redemption is allotted to Overseas Depository Bank, it canNOT be considered as Nominee of GDR holder for the purpose of Section 41 & 42 of Companies Act, 1956

No Delivery Period for all corporate actions of demat securities, SEBI amends

SEBI vide circular no. SEBI/CFD/DIL/LA/1/2009/24/04 dated April 24, 2009 has reduced the notice period from companies to stock exchanges to atleast 7 working days for all types of corporate actions.

It is decided to do away with ‘no-delivery period’ for all types of corporate actions in respect of the scrips which are traded in the compulsory dematerialised mode and accordingly, short deliveries, if any, of the shares traded on cum-basis may be directly closed out.

In case of such direct close-out, the mark-up price would be as stated in SEBI circular no. SMD/POLICY/Cir-08/2002 dated April 16, 2002.

Source: Abolition of no-delivery period for all types of corporate actions vide MRD/DoP/SE/Cir-07/2009 dated July 21, 2009

New Clause 28A in equity listing agreement restricting shares with superior rights to voting/dividend

Yes,

The following clause is inserted under Equity Listing Agreement,

“28A. The company agrees that it shall not issue shares in any manner which may confer on any person, superior rights as to voting or dividend vis-à-vis the rights on equity shares that are already listed. "

 

Thus, now Joint Ventures (JV) and Foreign Collaboration agreements with listed company shall observe cautions!!!

 

Source: Amendments to the Equity Listing Agreement

SEBI/CFD/DIL/LA/2/2009/21/7 dated July 21, 2009

[Labz] 1st Anniversary Celebrations, expecting your presence!!!

Yes YOU,

 

Many a thanks for your tremendous support and overwhelming response to LawLabz & LearnLabz as a Corporate & Secretarial Service Provider, Professional Educational Institute & OnlyThisMuch books.

 

I know you will treat this as my personal invite and grace our FIRST anniversary celebrations at LawLabz Consultancy (P) Ltd @ 128, Veeraperumal Koil Street, Mylapore, Chennai.  Any assistance, am at your service from +91 93829 35598.  PFA the Invitation.

 

Its YOUR presence which can satisfy our hearts and make the function grand!

 

Expecting YOU @ Labz.

 

Thanks once again...
--
A.N.S. VIJAY
Trezrrr...Every Pulsss...
http://yehseeyes.blogspot.com
 http://www.lawlabz.com

LawLabz celebrates its 1st Anniversary Celebrations, expecting your earnest presence!!!

LAW LABZ Consultancy Private Limited

360^O CORPORATE & SECRETARIAL SOLUTIONS

Invites YOU for its

1^ST ANNIVERSARY CELEBRATIONS

 

 

We invite ALL our Gurus, Well wishers, Guides, fellow Professionals, Students for our 1st Anniversary Celebrations,

 

VENUE: Law Labz, 128 Veeraperumal Koil Street, Mylapore, Chennai. M:9382935598

DATE: 26^th day of July 2009 (Sunday)

TIME: 0530 TO 0730 PM

 

We take this opportunity to thank our guiding Professionals and all our clients for having trust and faith in us and providing us with such wonderful opportunities to not only undertake Due Diligences, Incorporations, opinions on FEMA, Company Law, Securities laws, trust formation etc… but also make us a part of their families and corporates.  We would like to thank Mr.M.R.Venkatesh and Mrs.Shanthi for being our core strength and such amazing mentors.

 

We are obliged to extend our thanks to Learn Labz faculties & Company Secretary students for 3 Successful regular batches, 4 Successful weekend Crash batches & proving a record result of over 60% marks in every subject. We would like to thank Mr.Giridharan, Mr.Bhaskar and Mr.Sai Sunder for their involvement & dedication and they are sole reasons for LearnLabz to be successful.

 

We would like to thank you for your resounding response for our in-house book, the 2^nd edition "ONLY THIS MUCH" for CS Executive Programme on Company, Economic & Labour laws and Securities Law, by helping us to achieve a sale of 500 copies within 2 months of hitting bookstores.  We thank you once again for the advanced orders received for CS Professional Programme book, which is Coming Soon!!!

 

Believe us, its mere paucity of time and space to make this invitation short at such a shorter notice.  You are always in our minds.  We believe you will treat this as a personal invitation and grace this wonderful occasion to boost us to grow together reaching the heights of quality & professionalism by giving 360^O solutions to Xperiment, Xcel!!!

 

                                                                                                                       A.N.S Vijay                Company Secretary

 

One day Anchor investors for 30 day lock in, include convertible instruments period for offer for sale & listing in stock exchanges with nation wide terminals - SEBI DIP amended

Source: http://www.sebi.gov.in//circulars/2009/cfdcir362009.pdf

Compulsory listing of IPO on at least one stock exchange with nationwide trading terminals

It has been decided to amend clause 2.1.4 of the SEBI (DIP) Guidelines to provide that an unlisted company making an IPO shall list the securities being issued through the IPO on at least one stock exchange having nationwide trading terminals.

Convertible Equity shares considered eligible for offer for sale

A shareholder can make an offer for sale of the equity shares if such equity shares have been held for a period of at least one year as on the date of filing the draft offer document with SEBI.  It has been decided to amend clause 4.14.2 of the SEBI (DIP) Guidelines to provide that in case equity shares which are received on conversion of fully paid compulsorily convertible securities, including depository receipts, are being offered for sale, the holding period of such convertible securities as well as that of resultant equity shares together shall be considered for the purpose of calculation of the eligibility period.

Introduction of concept of Anchor Investor in public issues through book building route

In clause 11.3.5 after sub-clause (iia), the following sub clause (iib) shall be inserted :-

Out of the portion available for allocation to Qualified Institutional Buyers (QIB) under sub-clause (i) or (ii) or any proviso thereof, as the case may be, UPTO 30% may be allocated to Anchor Investors subject to the following:
a) Anchor Investors shall necessarily be Qualified Institutional Buyers (QIB) as defined in these guidelines.
b) The minimum application size by an Anchor Investor shall be Rs.10 crores.
c) One-third (1/3rd) of the Anchor Investor portion shall be reserved for domestic mutual funds (MF).
d) The bidding for Anchor Investors shall open one day before the issue opens and shall be completed on the SAME day.
e) Allocation to Anchor Investors shall be on a discretionary basis subject to minimum number of 2 investors for allocation of upto Rs.250 crores and 5 investors for allocation of more than Rs.250 crores.
f) The number of shares allocated to Anchor Investors and the price at which the allocation is made, shall be made available in public domain by the merchant banker before opening of the issue.
g) Anchor Investors shall pay a margin of at least 25% on application with the balance to be paid within 2 days of the date of closure of the issue.

h) If the price fixed for the public issue through book building process is higher than the price at which the allocation is made to Anchor Investors, the additional amount shall be paid by the Anchor Investors. However, if the price fixed for public issue is lower than the price at which the allocation is made to Anchor Investors, difference shall not be payable to the Anchor Investors.
i) There shall be a lock-in of 30 days on the shares allotted to the Anchor Investors from the date of allotment in the public issue.
j) No person related to the book running lead managers/ promoters/promoter group in the concerned public issue or the book running lead managers to the concerned public issue can apply under Anchor Investor category.
k) The parameters for selection of Anchor Investors shall be clearly identified by the merchant banker and shall be available as part of records of the merchant banker for inspection by SEBI.
l) The applications made by Qualified Institutional Buyers under Anchor Investor category and under Non Anchor Investor category may not be considered as multiple applications.

Click here for the Applicability of the Guidelines

Download the amended SEBI DIP Guidelines, 2000 as on date

go for Company Secretary Moot court, case published by ICSI for 2009, its at chennai now

Yes, the ICSI mooting begins now…. Moot Court includes drafting briefs (Court Papers) and participating in oral arguments (Pleadings) in a SIMULATED Court/Tribunal environment with 2 speakers & 2 researchers in a team arguing on both the sides of the case.  It really helps to improve the Advocacy & Presentation skills of the participant.  Further, it adds value to your CS Professional Program paper on DRAFTING, APPEARANCES & PLEADINGS.  Its worth to attend and interesting to particpate and exciting to win… Enjoy participatin…

The winning team of the Moot Court Competition will receive the rolling shield in the 37^th National Convention of Company Secretaries scheduled to be held from 5^th – 7^th November, 2009 at Hyderabad.

Start Researching now,

1. 7th All India ICSI Moot 2009 - Rules.pdf

2. 7th All India ICSI Moot 2009 - Problem

3. Bombay High Court Rules.zip

The expert team from Surana & Surana International Attorneys will be visiting all the four Regional Offices (subject to the minimum number of teams) of Institute of Company Secretaries of India to conduct the Regional Level Competition as per the schedule mentioned below:  

Round	Dates				Venue
	Orientation  (Friday)	Preliminary Rounds  (Saturday)	Semi-Final& Final rounds (Sunday)	Send  Registration  Form by
East	7 August 2009	8 August 2009	9 August 2009	28 July 2009	ICSI-EIRC Building    3-A,  Ahiripukur I Lane Kolkatta – 700 019  Ph: 033-2281 6541 / 2283 2973
North	21 August 2009	22 August 2009	23  August 2009	28 July 2009	ICSI-NIRC Building Plot No.4, Prasad Nagar, Institutional Area, Rajendra Place , New Delhi -110 005 Ph: 011- 2576 3090 /2576 7190
South	14 August 2009	15 August 2009	16  August 2009	28 July 2009	ICSI-SIRC House, Old No.4, New No.9,  Wheat Crofts Road   Nungambakkam, Chennai – 600 034 Ph: 044-28279898 / 28268685
West	28 August 2009	29 August 2009	30  August 2009	28 July 2009	ICSI 13, Jolly Maker Chambers,  No.II (1st Floor), Nariman Point,  Mumbai – 400 021. Ph: 022-2202 1826 / 2284 4073
National @ Chennai	4 Sep. 2009	5 Sep.2009	6 Sep.2009	-	ICSI-SIRC House, Old No.4, New No.9,  Wheat Crofts Road   Nungambakkam, Chennai – 600 034 Ph: 044-28279898 / 28268685

Details in http://www.icsi.edu/siro/7Mootcourt.htm

Enjoy mootin…

FII,FVCI,MF,Brokers & Custodians revised fee structure SEBI regulations w.e.f 1st July 2009

SEBI hereby makes the Securities and Exchange Board of India (Payment of Fees) (Amendment) Regulations, 2009 to further amend the Securities and Exchange Board of India (Custodian of Securities) Regulations, 1996, the Securities and Exchange Board of India (Foreign Institutional Investors) Regulations, 1995, the Securities and Exchange Board of India (Foreign Venture Capital Investors) Regulations, 2000, the Securities and Exchange Board of India (Mutual Funds) Regulations, 1996 and the Securities and Exchange Board of India (Stock Brokers and Sub-Brokers) Regulations, 1992.

 

Click here for the amended fees structure:

No. LAD-NRO/GN/2009-10/11/167759 dated 29th June 2009

No entry load for all Mutual Fund (MF) scheme,all expenses out of 1% Exit load & disclosure of all commissions to distributors from 1st August 2009

SEBI Mutual Fund amendments

a) There shall be no entry load for all mutual fund schemes.
b) The scheme application forms shall carry a suitable disclosure to the effect that the upfront commission to distributors will be paid by the investor directly to the distributor, based on his assessment of various factors including the service rendered by the distributor.
c) Of the exit load or Contingent Deferred Sales Charge (CDSC) charged to the investor, a maximum of 1% of the redemption proceeds shall be maintained in a separate account which can be used by the Asset Management Company (AMC) to pay commissions to the distributor and to take care of other marketing and selling expenses. Any balance shall be credited to the scheme immediately.
d) The distributors should disclose all the commissions (in the form of trail commission or any other mode) payable to them for the different competing schemes of various mutual funds from amongst which the scheme is being recommended to the investor. [Regulation 77 of SEBI (Mutual Funds) Regulations, 1996]

AMCs shall follow the provisions pertaining in clause 5(2)(b) of SEBI Circular SEBI/IMD/CIR No. 5/126096/08 dated May 23, 2008 regarding updation of Scheme Information Document (SID) and Key Information Memorandum (KIM) in this respect.

Applicability
This circular shall be applicable for
a. Investments in mutual fund schemes (including additional purchases and switch-in to a scheme from other schemes) with effect from August 1, 2009 ;
b. Redemptions from mutual fund schemes (including switch-out from other schemes) with effect from August 1, 2009 ;
c. New mutual fund schemes launched on and after August 1, 2009; and
d. Systematic Investment Plans (SIP) registered on or after August 1, 2009.

Source: Mutual Funds - Empowering investors through transparency in payment of commission and load structure

Relevant Existing provisions

1. SEBI had earlier abolished initial issue expenses and mutual fund schemes were allowed to recover expenses connected with sales and distribution through entry load only. Further, investors making direct applications to the mutual funds were exempted
from entry load.
2. In terms of existing arrangement, though the investor pays for the services rendered by the mutual fund distributors, distributors are remunerated by Asset Management Companies (AMCs) from loads deducted from the invested amounts or the redemption proceeds. SEBI (Mutual Funds) Regulations, 1996 also permit AMCs to charge the scheme (under the annual recurring expense) for marketing and selling expenses including distributor’s commission.
3. Further, all loads including Contingent Deferred Sales Charge (CDSC) for the scheme are maintained in a separate account and this amount is used by the AMCs to pay commissions to the distributors and to take care of other marketing and selling expenses. It has been left to the AMCs to credit any surplus in this
account to the scheme, whenever felt appropriate. In order to incentivise long term investors it is considered necessary that exit loads/CDSCs which are beyond reasonable levels are credited to the scheme immediately.

SEBI/IMD/CIR No. 4/ 168230/09 dated 30th June 2009

 

Like it, keep getting updates through mail

USD 1 million for Foreign Venture Capitals (FVCI) as firm commitment to apply for SEBI registration now

IMD/DOF-1/FVCI/CIR. No. 1/2009 dated 3rd July 2009

All applicants desirous of registering with SEBI as the Foreign Venture Capital Investors (FVCI), henceforth, shall obtain firm commitment from their investors for contribution of an amount of at least USD 1 million [1,000,000 $] at the time of submission of applications seeking registration as FVCIs as per SEBI (Foreign Venture Capital Investors) Regulations, 2000.

 

Kindly note, existing Regulation 11(3) of the SEBI (Venture Capital Funds) Regulations, 1996 [Domestic VCF Regulations] requires firm commitment from the investors for contribution of an amount of at least rupees five crores before the start of operations by the venture capital fund.

 

Source: Firm commitment requirement for registration as Foreign Venture Capital Investors

 

Like it, keep getting updates through mail

Within 12 months of Export of Goods and Software, Realise & Repatriate export Proceeds till 30th June 2010 now - RBI liberalises

Attention of Authorised Dealer Category-I (AD Category-I) banks is invited to A.P.(DIR Series) Circular No.50 dated June 5, 2008, enhancing the period of realisation and repatriation to India of the amount representing the full export value of goods or software exported, from six months to twelve months from the date of export, subject to review after one year.

2. The issue has since been reviewed and it has been decided in consultation with Government of India to extend the above relaxation for a further period of one year i.e. up to June 30, 2010, subject to review.

3. The provisions in regard to period of realisation and repatriation to India of the full export value of goods or software exported by a unit situated in Special Economic Zone (SEZ) as well as exports made to warehouses established outside India remains unchanged.

Source: RBI/2008-09/ 516 A.P. (DIR Series) Circular No.70 dated 30th July 2009

Like, it keep getting updating through mails

Violation of ECB provisions mandates RBI approval route, instead of automatic route & SEZ can avail for devlopment now

Attention of Authorized Dealer Category - I (AD Category - I) banks is invited to the A.P. (DIR Series) Circular No. 46 dated January 2, 2009 relating to External Commercial Borrowings (ECB).

On a review, it has been decided to modify some aspects of the ECB policy vide RBI/2008-09/517 A.P. (DIR Series) Circular No.71 dated 30th June 2009 as indicated below:

(i) ECB for Integrated Township
As per the extant policy, corporates, engaged in the development of integrated township, as defined in Press Note 3 (2002 Series) dated January 04, 2002, issued by DIPP, Ministry of Commerce & Industry, Government of India are permitted to avail of ECB, under the Approval route, until June 2009 [which is extended to 31st December 2009], still under RBI approval route.

(ii) ECB for NBFC sector
As per the current ECB norms, Non-Banking Finance Companies (NBFCs), which are exclusively involved in financing of the infrastructure sector, are permitted to avail of ECBs from multilateral / regional financial institutions and Government owned development financial institutions for on-lending to the borrowers in the infrastructure sector under the Approval route, subject, inter-alia, to the condition that the direct lending portfolio of these lenders vis-à-vis their total ECB lending to NBFCs, at any point of time, should not be less than 3:1 [the ratio is dispensed from 1st July 2009], still under RBI approval route.

(iii) ECB for Development of Special Economic Zone
As per the extant guidelines, ECB is permissible for the Infrastructure sector, which is defined as (i) power, (ii) telecommunication, (iii) railways, (iv) road including bridges, (v) sea port and airport, (vi) industrial parks, (vii) urban infrastructure (water supply, sanitation and sewage projects) and (viii) mining, refining and exploration. Further, units in the Special Economic Zone (SEZ) are also permitted to access ECBs for their own requirements. However, ECB is not permissible for the development of SEZ. It has now been decided to allow SEZ developers also to avail of ECB under the Approval route for providing infrastructure facilities, as defined in the ECB policy, within the SEZ. However, ECB shall not be permissible for development of integrated township and commercial real estate within the SEZ.

(iv) Corporates under Investigation
Currently, the ECB policy is not explicit about accessing of ECB by the corporates, which have violated the extant ECB policy and are under investigation by the Reserve Bank and / or Directorate of Enforcement. It is clarified that corporates, which have violated the extant ECB policy and are under investigation by Reserve Bank and / or by Directorate of Enforcement, will not be allowed to access the Automatic route for ECB. Any request by such corporates for ECB will be examined under the Approval route.

Click here to read all about External Commercial Borrowings

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CLB till Tribunal (NCLT) is constituted under Companies Act for LLP’s as per the amendment rules

LLP (Amendment) Rules, 2009 vide S.O. 385 (E) & 386 (E) dated 4th June 2009 with immediate effect.

 

Rule 32 of LLP Rules, 2009 stands as under:

32 (1) The Registrar shall, on conversion of a firm, private company or an unlisted public company into limited liability partnership, issue a Certificate of Registration under his seal in Form 19.

(2) In the event, Registrar has refused the registration, the applicant firm or private company or unlisted public company, as the case may be, may apply to the Tribunal within sixty days from the date of receipt of such intimation of refusal.

LLP (Amendment) Rules, 2009 has inserted a provisio here,

Provided that until the Tribunal (NCLT) is constituted under Companies Act, 1956 the application under this sub-rule may be made to Company Law Board (CLB).

 

The similar provisio is inserted in Schedules II, III & IV to Limited Liability Partnership Act, 2008  under Paragraph 7, 5 & 6 wherever the word “Tribunal” occurs.

 

Understand all LLP updates here.

Convert any form of business into LLP now, provisions notified w.e.f 31st May 2009

Notification of Sections 55 to 58, Second Schedule, Third Schedule and Fourth Schedule (II, III & IV) – LLP Act, 2008

Notification of Rules 32 and 33 and Rules 38 to 40 – LLP Rules, 2009

 

As you are aware of Limited Liability Partnership (LLP) law in India as on 1st April 2009 in India where Conversion into an LLP were not notified.

 

Now, MCA has notified S.O. 1323 (E) & S.O. 1324 (E) dated 22nd May 2009 has notified the following provisions w.e.f 31st May 2009 regarding,

• Conversion of Partnership Firm into LLP
• Conversion of Private Limited Company into LLP
• Conversion of Unlisted Public Limited Company into LLP

Thus e-forms 14, 17 & 19 dealing with such conversion as provided in Limited Liability Partnership Rules, 2009 stand notified.

 

Understand all LLP updates here.

Comply DIP for fully/partly convertible debt, Comply Debt regulations for Non-convertible debentures, SEBI clarifies

Clarification on applicability of SEBI Regulations/ Circulars on Initial and Continuous Disclosures for Convertible and Non-Convertible Debt

SEBI has introduced Simplified Debt Listing Agreement that prescribed
norms for issue of public or privately placed debt securities and listing of such securities on the exchange.

Now it is clarified that, issue and listing of non-convertible debt securities, whether issued to the public or privately placed, is to be done in accordance with the provisions of the Securities and Exchange Board of India (Issue and Listing of Debt Securities) Regulations, 2008. Issue of debt securities that are convertible, either partially or fully or optionally into listed or unlisted equity shall be guided by the disclosure norms applicable to equity or other instruments offered on conversion in terms of the Securities and Exchange Board of India (Disclosure and Investor Protection) Guidelines, 2000 (which is proposed to be replaced by New ICDR regulations, 2009).

Source: SEBI/IMD/BOND/Cir-2/2009 dated June 23, 2009

SEBI proposes Issue of Capital & Disclosure Requirements (ICDR) Regulations, 2009 for DIP guidelines, 2000

Download SEBI (ICDR) Regulations, 2009 effective 26th August 2009.

SEBI has already issued Delisting Regulations replacing Delisting Guidelines and now has proposed to issue SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2009 replacing the current SEBI (Disclosure & Investor) Protection Guidelines, 2000.

You can expect there will not be (m)any amendments on the current DIP guidelines hereon…as they are proposing to consider DIP guidelines as on 31st May 2009.

 

Download Proposed SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2009 now.

Yes, now the said Proposal is approved and the new ICDR regulations has come into force with effect from 26th August 2009 regulating the PUBLIC ISSUE of specified securities and convertible securities.

Understand your Updates, right through your email now

CS CC papers online for CA CWA final students or with 4 years of experience, by sending it in e-mail to ICSI, only for Company Law of Executive Programme

RESPONSE SHEETS BY E- MAIL

Yes, Company Secretary Institute has recognised Chartered Accountant & Cost Accountant final passed students to submit CC papers online, but for only one subject (Company law), on a PILOT basis.

As the Student Community is well aware, the Institute has always strived to absorb the power of info rmation technology in its day to day activities so that the students are provided with hassle-free and effective services at all times.  In this scenario,  it has been decided to introduce a Pilot Project of E-Response Sheets  wherein  Response Sheets will be accepted from the students through E-Mail as against the conventional method of accepting the same in physical form.  The details are as under : -

 

Eligibility of Students to be covered under Pilot Project	Students of Executive Programme who have either : (i)                  Passed CA/ICWA Final Examinations;   OR (ii)                Having with 4-5 Years of Work Experience
Subject covered under Pilot Project	‘Company Law’ (Code No.224) covered under Module-II of Executive Programme
Process involved	F    Step 1	Click on the link “Students” and then “E-Response Sheets” to download the Word Document containing Question-Cum-Answer Paper.
	F    Step 2	Fill in the Particulars of Student in the Template which is also available in the Word Document.
	F    Step 3	Type the Answers for each Question at the relevant space  in the Word Document.
	F    Step 4	Send the E-Response Sheet to response_cl@icsi.edu
	F    Step 5	While sending the E-Response Sheet by E-Mail, please also attach scanned copy of certificate pertaining to qualification (CA/ICWA) or work experience.

Students fulfilling the eligibility criteria are requested to follow the above steps.  In case of any difficulty,  students may contact Directorate of Information Technology (psdit@icsi.edu) for technical problems and Directorate of Student Services (dss@icsi.edu)  for any other query like eligibility, etc.

Please note that depending upon the success of  the Pilot Project, this facility will be extended to all the remaining subjects/ stages in a phased manner.  The present system of  submitting the response sheets in physical form will not be affected and will continue as usual.

BCom CS Executive & MCom CS Professional programme is possible -IGNOU & ICSI offers this mutli-degrees for Company Secretaries

Have you registered for Company Secretary (CS) Foundation Programme & not doing College, then also register for Bachelor of Commerce with Major in Corporate Affairs and Administration (B.Com CA & A) by paying Rs.4,800/- at the time of admission to get a degree from Indira Gandhi National Open University simultaneously on passing CS Executive Programme (i.e) On passing of the the Foundation Programme and Executive Programme of ICSI, students get exemption in all those courses of B.Com (CA&A).

 

Have you registered for Company Secretary – CS Executive Programme & also a graduate from College or Institute, then also register for Master of Commerce in Business Policy and Corporate Governance (M.Com BP&CG) by paying Rs.6,000/- at the time of admission to get a degree from Indira Gandhi National Open University simultaneously on passing CS Professional Programme (i.e) On passing of Professional Programme of ICSI, students get exemption in all those courses of M.Com (BP & CG).

 

Remember the last date or cut-off dates…

An electronic version of the Prospectus is also available on below mentioned links.  The application form can be downloaded from the links below and the duly filled in form to be submitted to Regional Director Concerned on or before the last date, i.e. 30th June, 2009 and 31st October, 2009 for July 2009 and January 2010 sessions respectively. In such a case, candidates are required to pay an additional amount of Rs.400 by way of separate demand draft drawn in favour of IGNOU payable at city where the admission form is being submitted.  A printed copy of Student Handbook and Prospectus would be sent to such candidates separately.

Where to send the application form?

All your queries are answered from the below mentioned links with details of regional centre nearest to your location.

Student Prospectus and Programme Guide for B.Com (CA & A) and M.Com (BP & CG) Exclusively for ICSI

|| Preamble | Pages A | Pages B | Guidelines and Application Form Online Admission||
Download size: (24 KB | 153 KB | 199 KB | 155 KB || Format : PDF )

Competition law applicability till date,sections w.e.f. 20th May 2009,including anti-competitive agreements & abuse of dominance,excepting combinations & CCI provisions

Competition Act, 2002, as amended by Competition (Amendment) Act, 2007 readwith The Competition Commission of India (Meeting for Transaction of Business) Regulations, 2009, The Competition Commission of India (General) Regulations, 2009 & The Competition Commission of India (Procedure for Engagement of Experts and Professionals) Regulations, 2009 were notified by CCI, including establishment of Competition Appellate Tribunal (CAT) in New Delhi.

Broadly, almost all the provisions of Competition Act are notified EXCEPT provisions regarding Combinations (Mergers, Amalgamations, Acquisitions & Takeovers - MAAT) & provisions before Competition Commission of India (CCI) benches.

Erstwhile, only the following provisions of Competition Act are effective –

	All definitions as contained in section 2
	Establishment of Competition Commission of India, Composition of Commission, Salary and allowances and terms and conditions of members of Commission – sections 7 to 15
	Appointment of Director General – section 16
	Appointment of Secretary, officers and employees of the CCI, Appointment of experts and professionals – section 17
	Commission to regulate its own procedure – section 36
	Competition Advocacy – section 49
	Finance, Accounts and Audit – sections 50 to 53
	Establishment of Competition Appellate Tribunal – section 53A and 53C to 53M
	Powers to Central Government, rule making powers, powers to make regulations etc. – sections 54 to 65

Source: http://www.dateyvs.com

Sections 3, 4, 18, 19, 21, 26, 27, 28, 32, 33, 35, 38, 39, 41, 42, 43, 45, 46, 47, 48, 54, 55 & 56 of Competition Act, 2002 are notified w.e.f 20^th day of May 2009 [Sections of Competition (Amendment) Notified w.e.f 20^th day of May 2009 vide Notification No. S.O. 1242(E) dated 15 May 2009]

Kindly note the following Sections of Competition Act, 2002 as amended by Competition (Amendment) Act, 2007 are notified Sections 3, 10, 13, 15, 16, 19, 20, 21, 25, 26, 28, 31, 33, 34, 35, 36, 38, 39 & 43, 53B, 53N, 53O, 53P, 53Q, 53R, 53S, 53T & 53U w.e.f 20^th day of May 2009 [Sections of Competition Act notified w.e.f 20^th day of May 2009 vide Notification No. S.O. 1241(E) dated 15 May 2009]

Establishment of Competition Appellate Tribunal (CAT) headquartered in New Delhi [Establishment of Competition Appellate Tribunal vide Notification No. S.O. 1240(E) dated 15 May 2009]

On combined reading, to understand the applicability of notified Competition Act till date, you can consolidate as follows:

The following Sections of Competition Act, 2002 were NOT notified,

Section 5, 6, 20, 29, 30 & 31 regarding regarding Combinations (Mergers, Amalgamations, Acquisitions & Takeovers – MAAT)

Sections 22, 23, 24, 25, 34, 37 & 44 regarding Competition Commission of India (CCI) benches, to award compensation, to review its orders, appeal, etc..

The following Sections of Competition (Amendment) Act, 2007 were NOT notified,

Sections 4, 5, 14 & 24 regarding Combinations (MAAT)

Sections 6, 7, 8, 9, 11, 12, 17, 18, 22, 23, 27, 29, 30, 32, 37, 44, 45, 46, 47, 48 & 49 regarding regarding CCI benches, appointment of Director general, secretary, experts, professionals, etc… to CCI,

Sections 40, 41 & 42 regarding funds, accounts & audit of CCI

Section 53A & 53C-M regarding Competition Appellate Tribunal (CAT)

Section 50 regarding repeal of Monopolies Restrictive Trade Practices Act, 1969 (MRTP).

 

To understand Competition Law as on May 2009 in detail, you may click Understand Competition Act, 2002, as amended by Competition (Amendment) Act, 2007 as notified by 2009 Notifications w.e.f. 20th May as to Agreements & Abuse of dominance

CCI Collegium Meetings with 6 regulations transact the business on the basis of information or reference & decided by majority

The Competition Commission of India (Meeting for Transaction of Business) Regulations, 2009 ( No. 3 of 2009) by way of Notification No R-40007/6/ Reg- Meeting/ Noti/ 04- CCI dated 22nd May 2009.

 

As you know, the Competition Commission (CCI) functions in the way of collegium (sitting for meetings) and decisions are based on majority, on receipt of Information [u/r 2(1) (e)] or Reference [u/r 2(1)(h)] unlike MRTPC sittings on applications.

 

Reg 3 - Meetings for transaction of business and their procedure. As per Reg 3, the meetings of the Commission (CCI) shall ordinarily be held at its head office situated in New Delhi Provided that the Commission may also hold meetings at its other offices or at any other place in India, whenever, in the opinion of the Commission, it is expedient to do so.  There is separate procedure for ordinary & special meetings. 

 

The power to regulate procedure & irregularity of procedure is given under Reg 4 & 5.

 

Reg 6 - Removal of difficulty: In the matter of implementation of these regulations, if any doubt or difficulty arises, the same shall be placed before the Commission and the decision of CCI thereon shall be final.

CCI logo in its general regulations 2009 with details about manner of conducting proceedings consisting of 54 regulations

The Competition Commission of India (General) Regulations, 2009;( No. 2 of 2009) by way of Notification No R-40007/6/ Reg- General/ Noti/ 04- CCI dated 22nd May 2009 with immediate effect.  Let us understand the scheme of the said regulations.

 

Competition Commission of India (CCI) unveils its New Seal & Emblem as per Regulation 4 read with the Annexure to this regulation.

Reg 2(1)(g) –> “media” includes newspapers, magazines, periodicals, journals, radio, cinema, television and internet.

 

Reg 2(1)(i) –> “Party” includes a consumer or an enterprise or a person defined in clauses (f), (h) and (l) of section 2 of the Act respectively, or an information provider, or a consumer association or a trade association or the Director General defined in clauses (g) of section 2 of the Act, or the Central Government or any State Government or any statutory authority, as the case may be, and shall include an enterprise against whom any inquiry or proceeding is instituted and shall also include any person permitted to join the proceedings or an intervener.

 

Reg 5 - The language of the Commission shall be English.

 

Reg 47 - Proceedings before Commission not to be open to public.

 

The regulation further provides for determination of holidays, computation of time, contents of information or reference & signing thereof, procedure for filing information or reference by registered post or courier or FAX or in electronic form as and when so desired by the Commission through a public notice,  powers & functions of Secretary to CCI, procedure for scrutiny of information or reference (See Regulation 15 for the time limits), CCI opinion on existence of prima facie case as per Regulation 16 (which may be determined by Preliminary Conference as per Regulation 17), investigation by Director General as per Regulation 20, procedure for inquiry as per Regulation 21, mode of service of notice (Reg 22), manner of filings before CCI (Reg 23), powers of CCI as per Reg 24 to 28. Reg 30 to 32 & Reg 44-45, manner of making submissions or arguments by parties before Commission (Reg 29), reference as per Reg 33 & 34, Confidentiality (with “restriction of publication claimed” in red ink on top of the first page) as per Reg 35,  Compliance of orders & effect of non-compliance, taking evidence, etc… is dealt from Reg 36 to 43, authorizing a representative to appear as per Reg 46, penalties & fees as per Reg 48 to 50.

 

Click here to understand Competition Act - http://thisisvj.googlepages.com/Competition.pdf