SEBI/CFD/DIL/MB/IS/5/2009/05/08 dated 5th August, 2009
ASBA – Application Supported by Block Amount
It is, hereby, clarified that for the purpose of payment of commission,
both type of applications i.e. whether uploaded by Syndicate Members
(Non–ASBA) or by SCSBs (ASBA), shall be treated on par and the
commission shall be paid accordingly to Syndicate Members or SCSBs,
as the case may be.
Know all about ASBA from [SEBI-ASBA] Lets Learn the Concept
CFD/DCR/TO/Cir-01/2009/06/08 dated 6th August 2009
All the banks may seek a declaration from their existing borrowers availing sanctioned limits of Rs.5.00 crore and above or wherever, it is in their knowledge that their borrowers are availing credit facilities from other banks, and introduce a system of exchange of information with other banks and obtain regular certification by a professional, preferably a practising Company Secretary or Chartered Accountant or Cost Accountant, regarding compliance of various statutory prescriptions.
Now, the applicability of the Certification for lending is extended. Thus, it is now made mandatory (applicable) for
All Scheduled Commercial Banks (excluding RRBs and LABs)
Select All-India Term-lending and Refinancing Institutions
(Exim Bank, NABARD, NHB and SIDBI)
The list of all RBI circulars regarding Lending under Consortium Arrangements/Multiple Banking Arrangements till date:
RBI/2009-2010/116 DBOD.No.FID.FIC.2397/01.02.00/2009-10 dated 5th August 2009 by which it is advised that the above guidelines on consortium arrangements/multiple banking arrangements issued to banks, shall mutatis mutandis apply to the select all-India Financial Institutions (AIFIs) for sharing of information among the AIFIs and with banks.
Sure, this is a very happy announcement for every student of ICSI!!! CC papers, headaches (as knowledge is put into head)? agreed, not any more!!! as the requirement is relaxed. Yes, I know every one is now so excited to read further. Enjoy writin….
It has been decided to rationalize the criteria for issue of Coaching Completion Certificates (CC) papers vis-à-vis submission of Response Sheets with immediate effect which is as follows [which is even applicable for December 2009 exams]. Keeping in view the above decision, the students are advised to send at least one Response Sheet for each subject to make him/ her eligible for issue of Coaching Completion Certificate. It is further to clarify that he/ she has to secure minimum 40% marks in each subject for issue of Coaching Completion Certificate. [Source]
As every one is aware that one has to submit CC papers on or before August 2009 for being eligible to attend December 2009 CS exam.
Also you are aware of the pilot project of ICSI viz 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
Now, every student of ICSI can submit merely ONE CC PAPER (from 3 of the COMPULSORY test paper given at the end of the ICSI study material) for every subject PROVIDED atleast you secure 40% marks in every subject.
However, students will be at liberty to send maximum response sheets to the Institute and all such response sheets will be evaluated and returned to them for their reference/ guidance.
Enjoy writin…
RBI in order to facilitate the eligible companies resident outside India to issue Indian Depository Receipts (IDRs) through a Domestic Depository and to permit persons resident in India and outside India to purchase, possess, transfer and redeem IDRs, it has been decided to operationalise the IDR Rules, notified by the Government of India, as amended from time to time, with immediate effect. Before further reading, first understand the basics of IDR from [SEBI-IDR]Lets Learn-Indian Depository Receipt-Meaning & Understanding.
The permission has been granted subject to compliance with the Companies (Issue of Depository Receipts) Rules, 2004 and subsequent amendments made thereto and the SEBI (DIP) Guidelines, 2000, as amended from time to time. In case of raising of funds through issuance of IDRs by financial/banking companies having presence in India, either through a branch or subsidiary, the PRIOR approval of the sectoral regulator(s) should be obtained before the issuance of IDRs.
Investment by Persons resident in India / FIIs / NRIs in IDRs
The FEMA Regulations shall not be applicable to persons resident in India as defined under section 2(v) of FEMA, 1999, for investing in IDRs and subsequent transfer arising out of transaction on a recognized Stock Exchange in India. Foreign Institutional Investors (FIIs) including SEBI approved sub-accounts of the FIIs, registered with SEBI and Non-Resident Indians (NRIs) may also invest, purchase, hold and transfer IDRs of eligible companies resident outside India and issued in the Indian capital market, subject to the Foreign Exchange Management (Transfer or Issue of Security by a Person Resident Outside India) Regulations, 2000 notified vide Notification No. FEMA 20 / 2000-RB dated May 3, 2000, as amended from time to time. Further, NRIs are allowed to invest in the IDRs out of funds held in their NRE / FCNR(B) account, maintained with an Authorised Dealer / Authorised bank.
Fungibility
Automatic fungibility of IDRs is not permitted.
Period of redemption
IDRs shall not be redeemable into underlying equity shares before the expiry of 1 year period from the date of issue of the IDRs.
Procedure for transfer and redemption of IDRs
At the time of redemption / conversion of IDRs into underlying shares, the Indian holders (persons resident in India) of IDRs shall comply with the provisions of the Foreign Exchange Management (Transfer or Issue of Any Foreign Security) Regulations, 2004 notified vide Notification No. FEMA 120 / RB-2004 dated July 7 2004, as amended from time to time. Accordingly, the following guidelines shall be followed, on redemption of IDRs:
Others
The proceeds of the issue of IDRs shall be immediately repatriated outside India by the eligible companies issuing such IDRs. The IDRs issued shall be denominated in Indian Rupees.
Source: RBI/2009-10/106 A.P. (DIR Series) Circular No. 05 dated 22nd July 2009
Since the taxation related matters in India are provided under Tax Laws, the taxation of LLPs was not provided in the Limited Liability Partnership (LLP) Act, 2008. The Finance Bill, 2009 has made provisions in this regard, pursuant to which the taxation scheme of LLPs has been proposed to be introduced in the Income Tax Act. The amendments shall be effective from the 1st day of April 2010 i.e. assessment year 2010-11. Find details of the notification in http://www.lawlabz.com/blog.html
Source: Press Note No.1/16/2007-CL.V dated 10/07/2009 on Taxation of Limited Liability Partnerships
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
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,
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
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
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
LAW LABZ Consultancy Private Limited
360O CORPORATE & SECRETARIAL SOLUTIONS
Invites YOU for its
1ST 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: 26th 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 2nd 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 360O solutions to Xperiment, Xcel!!!
A.N.S Vijay Company Secretary
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.
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 37th National Convention of Company Secretaries scheduled to be held from 5th – 7th 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 | Preliminary Rounds | Semi-Final& | Send | ||
| East | 7 August 2009 | 8 August 2009 | 9 August 2009 | 28 July 2009 | |
| North | 21 August 2009 | 22 August 2009 | 23 August 2009 | 28 July 2009 | |
| South | 14 August 2009 | 15 August 2009 | 16 August 2009 | 28 July 2009 | ICSI-SIRC House, |
| West | 28 August 2009 | 29 August 2009 | 30 August 2009 | 28 July 2009 | ICSI |
| National @ Chennai | 4 Sep. 2009 | 5 Sep.2009 | 6 Sep.2009 | - | ICSI-SIRC House, |
Details in http://www.icsi.edu/siro/7Mootcourt.htm
Enjoy mootin…
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:
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]
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
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
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
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
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.
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,
Thus e-forms 14, 17 & 19 dealing with such conversion as provided in Limited Liability Partnership Rules, 2009 stand notified.
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).
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.
RESPONSE SHEETS BY E-
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
| Eligibility of Students to be covered under Pilot Project | Students of Executive Programme who have either : (i) Passed CA/ICWA 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.
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 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 20th day of May 2009 [Sections of Competition (Amendment) Notified w.e.f 20th 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 20th day of May 2009 [Sections of Competition Act notified w.e.f 20th 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
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