Introduction about CS (Company Secretary)
The Institute of Company Secretaries of India (ICSI) is constituted underneath the Company Secretaries Act, 1980, to develop and regulate the occupation of Company Secretaries in India. The origin of this occupation will be traced again to 1960, when the Company Regulation Board began a course in Company Secretaryship resulting in a Authorities Diploma in Company Secretaryship. An incredible progress within the variety of Company Secretaries led to the formation, in 1969, of The Institute of Company Secretaries of India underneath Part 25 of the Firms Act, 1956. The Institute of Company Secretaries of India has been transformed right into a statutory body underneath the Company Secretaries Act, 1980.
Behind each profitable man there’s a girl. This saying will be twisted a bit to go well with our purpose- ‘Behind each profitable company is a devoted Company Secretary’.
A company secretary is the one who corresponds with the general public and therefore can be termed because the ‘spokesperson’ of the company. So let’s embark on a journey to unveil in regards to the happenings within the life and making of a company secretary.
A Company Secretary is an individual who ensures compliance of all legal guidelines, which relate to the working of a company. Therefore, data about company legal guidelines and the foundations associated to it are obligatory to formalise enterprise offers. Other than being accountable to the shareholders and administrators of the company, a company secretary additionally communicates with the skin world on behalf of the company. Therefore, he/she is the ‘face of the company’.
A company secretary’s function begins from the very second when the thought of formation of a Company is conceived. Though the thought of formation of a company Secretary (CS) might differ from company to company the data and coaching acquired by company secretaries make them versatile to hold out varied capabilities in Finance, Accounts, Authorized Administration and Personnel areas along with their very own secretarial duties and obligations. A company secretary is acknowledged as one of many principal officers of the company by varied enactments. Company secretaries, thus occupy a pivotal and versatile place in corporations. Firms having a paid up share capital of above Rs. 50 lakhs for extra are statutorily required to nominate a whole-time CS.
The profession course of Company Secretary will not be solely prestigious however is financially rewarding too. The put up of a Company Secretary is taken into account a good one within the hierarchy and this is without doubt one of the most necessary posts an individual handles. It is because, on this place, one acts because the mediator between the company and its Board of Administrators, authorities, shareholders and regulatory authorities. She or he guides the Chairman and the Administrators on how one can make the perfect use of their obligations underneath varied legal guidelines.
A company secretary is a prime degree worker in a company whose accountability is to make sure that the company adheres to all of the legalities set by the federal government subsequently advises the administrators on varied insurance policies and operations of the company. To have a company secretary has been made obligatory by a Authorities Act for giant corporations. For the reason that increase in financial system within the latest years many corporations have grown tremendously and new corporations have emerged. Subsequently the necessity and scope for company secretaries has additionally elevated tremendously over time. To turn out to be a company secretary one must do an expert course underneath the Institute of Company Secretaries of India (ICSI).
Using the phrase secretary within the identify of this specialization is a bit deceptive for one who’s new to the idea. A Company Secretary has nothing to do with common secretarial work. A Company Secretary is an expert whose function in a company arrange is that of an advisor for authorized issues. As per the Firms Act, a statutory requirement is that corporations with a paid up share capital of a minimal of Rs 50 lakh are required to nominate a Company Secretary. A Company Secretary is a vital member of the company’s management.
A company secretary is an individual who ensures compliance of all legal guidelines, which relate to the working of a company. Therefore, data about company legal guidelines and the foundations associated to it are obligatory to formalize enterprise offers. Other than being accountable to the shareholders and administrators of the company, a company secretary additionally communicates with the skin world on behalf of the company. Therefore, he/she is the’ face of the company’.
These are among the duties of a company secretary:
•Advising on good governance practices and compliance of company governance norms as prescribed underneath the Firms Act, itemizing settlement with inventory exchanges and varied different legal guidelines, guidelines and laws.
•Promotion, formation and incorporation of corporations and different issues associated to it.
•Submitting, registering paperwork together with types, returns and purposes on behalf of the company as a certified consultant
•Upkeep of secretarial information, statutory books and registers.
•Arranging board and normal conferences and getting ready minutes of the assembly
•All work associated to shares and their switch and transmission
•Secretarial audit/compliance audit
•Compliance certificates for corporations not required to make use of a whole-time secretary
•Signing of annual studies
•Advising corporations on compliance of authorized and procedural facets, significantly underneath varied acts like SEBI Act, Mental Property Rights, Labour and Industrial Legal guidelines, establishing of subsidiary boards, drafting of authorized paperwork, and so on.
•Representing the company or different individuals earlier than the Company Regulation Board, Nationwide Company Tribunal, and so on.
A company secretary must keep the information of the company correctly, file within the fundamental minutes ebook, name conferences just like the board conferences or the final body conferences, deal with issues associated to preliminary public choices (IPOs) and public points.
A company secretary must have superb Communications expertise, wonderful command over English, analytical thoughts and skill to clarify issues to the administrators and resolution takers within the company. Job prospects for Company Secretary are fairly good and the scope for progress can be there. Remunerations supplied are actually good for company secretaries with salaries ranging from Rs. 20,000 monthly.
Certified company secretaries can discover well-paid positions within the non-public sector and public company sector, banks and monetary establishments, inventory exchanges, the Division of Company Affairs, company regulation boards and authorities departments. The bigger the company and the broader its discipline exercise, the higher the emoluments earned by the CS. Non-public consultancy jobs are a really profitable possibility.
Liberalization and globalization have an enormous increase to company exercise and together with it the openings for company secretaries proceed to develop. Within the current age of mergers, acquisitions, and tie-ups this occupation appears to be like ahead to wealthy dividends.
Advantages and Scopes of Company Secretary:
• The businesses who pay a share capital of lump sum quantity (varies from place to position) usually require a company secretary by way of Firms Act.
• The principle perform of the Company Secretary is to supply the steering and valuable recommendation within the fields of economic, secretarial and authorized issues.
• The company secretary will likely be held accountable in coping with the stakeholders, Boards of Director, Authorities Departments and in addition the person will act because the compliance officer of the company to include the foundations and laws of the Securities and Trade Board of India.
Demand of Company Secretary:
There’s a enormous demand of Company Secretary in USA, India, UK and a few western nations.
The profitable particular person company secretary will purchase a job in
• Departments of Company affairs
• Inventory Exchanges
• Authorities Departments
• Company Regulation Boards
• Can begin up Company Secretary Ship Consultancy agency
Company Secretaries in Follow additionally render following Services (Self Employment):
• Authorized, Secretarial and Company Governance
• Company Restructuring
• International Collaborations Joint Ventures
• Arbitration and Conciliation
• Venture Financing
• Monetary Management
• Venture Planning
• Capital Market and Investor Relations
• Due Diligence
• Company Advisory Services
• That is the identification for the primary/lowest/beginning degree of the CS course performed by the ICSI.
• That is the Lowest degree at which a scholar can begin pursuing the CS i.e. Company Secretaries course.
Length of Basis Course is eight months. College students are required to move the Basis examination inside three years from the date of their admission. Candidates who’ve handed senior secondary (10+2) can apply for basis course. Registration for basis course is open all year long. The exams for the muse course are held in December and June. To look for the exams in December candidate ought to apply for the examination earlier than the earlier march. Equally to look for the June examination, candidate ought to apply earlier than the earlier September. i.e. the Registration for every examination ought to be achieved not less than 9 months earlier than the month through which the examination is held.
For the reason that primary examinations are performed as soon as each six months solely, the precise time hole between registration and showing on the primary examination could also be greater than eight months.
01. English and Enterprise Communication (FCEBC)
• Half A: English – 50 Marks
• Half B: Enterprise Communication – 50 Marks
02. Economics and Statistics (FCBE-BE)
• Half A: Economics – 50 Marks
• Half B: Statistics – 50 Marks
03. Monetary Accounting (FCFA)
04. Parts of Enterprise Legal guidelines and Management (FERBAM)
• Half A: Parts of Enterprise Legal guidelines – 50 Marks
• Half B: Parts of Management – 50 Marks
05. Data Programs and Quantitative Strategies (FCISQT)
ALL INDIA PRIZE AWARDS:-
1. Sultan Chand Belief Prize Award
2. Sultan Chand Belief Prize Award
three. Sultan Chand Belief Prize Award-
four. Durga Devi Saraf Memorial Gold Medal(Just for Feminine)
5. Elvina Pinto Memorial Prize Award
6. LATE Shri G V Setty and LATE SMT.Kusumamba Memorial Award
7. LATE Madineedi Ramakrishna Subhadra Memorial Award
Awarded To: Awarded to a candidate who passes in all papers of the Basis Examination, at first try, in a single sitting, with out claiming exemption in any topic and acquiring the best marks within the combination bearing in mind the efficiency of all profitable candidates.
Candidates who’ve handed the muse course, and aren’t lower than 17 years of age can apply for intermediate course. Graduates, post-graduates (excluding superb arts) and people who have handed last examination of ICWAI or ICAI or of another accountancy Establishment in India or overseas acknowledged by the Council of the Institute can straight enroll to the intermediate course with out doing basis course. Intermediate course encompass two teams. Candidates registered for intermediate course together with the month of February in a yr are eligible for showing in each the teams of the Intermediate examination held in December of that yr and people registered as much as and together with the month of August in a yr are eligible to look within the Intermediate examination held in June of subsequent yr.
CS: Govt Programme – Module I
• Paper 1: Common and Industrial Legal guidelines (IGCL) [100 marks]
• Paper 2: Company Accounts and Price and Management Accounting (ICA&CMA) [100 marks]
o Half A: Company Accounts (50 Marks)
o Half B: Price and Management Accounting (50 Marks)
• Paper three: Tax Legal guidelines (ITL) [100 marks]
o Half A: The Earnings-tax Act (60 Marks)
o Half B: Service Tax (20 Marks)
o Half C: Worth Added Tax (20 Marks)
• Management Data Programs and Company Communication (IMIS&CC)
CS: Govt Programme – Module II
• Paper four: Company regulation (ICL) [100 marks]
• Company Secretarial Follow (ICSP)
• Paper 5: Financial and Labour Legal guidelines (IELIL) [100 marks]
o Half A: Financial Legal guidelines (60 Marks)
o Half B: Labour Legal guidelines (40 Marks)
• Paper 6: Securities Legal guidelines and Compliances(ISLRFM) [100 marks]
o Half A: Safety Legal guidelines (60 Marks)
o Half B: Situation Management and Compliances (40 Marks)
A candidate can get exemption for some particular person papers on the idea of qualification
1. Company Accounts and Price & Management Accounting (ICA&CMA) – Grasp of Company Secretaryship/M.Com./M.B.A (with Accountancy as one of many topics at B.A (C.S)/B.Com. degree with full paper in Price Accounting/Management Accounting/Monetary Management at Grasp of Company Secretaryship/M.Com. /M.B.A. degree and should have secured fifty per cent marks within the topic involved of a acknowledged college is exempted from this topic.
2. Common and Industrial Legal guidelines (IGCL) – A level in Regulation or Grasp of Company Secretaryship is exempted from this topic.
three. Tax Legal guidelines (ITL) – Grasp of Company Secretaryship is exempted from this topic.
A Candidate who has handed the Ultimate examination of the ICWAI is eligible to hunt exemption from the next papers of Intermediate examination underneath a reciprocal association present at current between the 2 Institutes- Company Accounts and Price & Management Accounting (ICA&CMA), Tax Legal guidelines (ITL) within the intermediate degree. Monetary, Treasury and Forex Management, Direct and Oblique Taxation – Regulation and Follow within the last degree.
To allow non – commerce college students who’re eligible for direct admission to the manager degree programme, to get a basic understanding on commerce topics the ICSI has made it obligatory for such college students to take up a course of postal or oral tuition in these topics of the Basis examination which he/she had not studied on the graduate or put up graduate degree earlier than turning into eligible to pursue the manager degree programme/course.
Scholar registering for the obligatory bridge Course needn’t attend examination in these topics however has to compulsorily endure both oral or postal tuition in them.
A candidate can enter the programs at this degree by means of two totally different routes.
1. By passing the Basis Programme examination i.e. qualifying on the Basis Programme degree
2. By passing a Commencement/Diploma (10 + 2 + three) examination i.e. having a Commencement qualification
1. A move within the Basis Programme Examination performed by ICSI.
2. A Diploma or grasp’s diploma in Company Secretaryship or Commerce.
three. A level or grasp’s diploma in any self-discipline aside from Advantageous Arts.
four. A move within the Ultimate examination performed by:
i. The ICAI
ii. The ICWAI
iii. Every other Accountancy Establishment in India or overseas as acknowledged as equal thereto.
Along with the ranks and distinctions awarded by the institutes, the next prizes are awarded to the scholars by varied sponsors.
Some are sponsored by the Institute and its chapters and a few others by non-public trusts or charitable establishments and a few others by people.
ALL INDIA PRIZE AWARDS:-
1. President’s Silver Medal
2. Jaypee Group Prize Award
three. Late Shri Jagdish Chandra Malhotra Memorial Annual Award
four. Kedarnath Prahlad Rai Dhanuka Memorial Award
5. Mauji Ram Jain Memorial Award (Feminine Candidate)
6. SMT.Bonadada Samantha kamani Memorial Silver Medal (Feminine Candidate)
7. Taxman’s Prize Award (Specifically for Highest Marks in Tax Regulation)
eight. Preeti Puraskar (Specifically for Highest Marks in Company Regulation)
Awarded to a candidate who passes in all papers of the Govt program Examination, at first try, in a single sitting, with out claiming exemption in any topic and acquiring the best marks within the combination bearing in mind the efficiency of all profitable candidates, supplied that the mixture will not be lower than 55%.
A scholar is admitted to the Ultimate examination solely after a minimal interval of 9 months after passing intermediate examination. The examinations are performed twice a yr in June and December. Final date for enrollment purposes for the ultimate examination is 25th March (with late payment of Rs. 100, ninth April) for June examination and 25th September (with late payment of Rs. 100, 10th October) for December examination.
There are eight papers divided into four Modules in CS Skilled Programme
Company Secretarial Follow
Drafting, Appearances and Pleadings
Monetary, Treasury and Forex Management
Company Restructuring & Insolvency
Strategic Management, Alliances and Worldwide Trade
Superior Tax Legal guidelines and Follow
Due Diligence and Company Compliance Management
Governance, Enterprise Ethics and Sustainability
The CS course is full after college students have undergone 16 months sensible and modular coaching in an effort to apprise the scholars with the functioning of the Company Sector and to create a cadre Company Secretaries having a sound theoretical base and sensible publicity to serve trade and trade successfully, each as part of the management group in addition to impartial working towards professionals.
A candidate who has handed the Ultimate examination of the Institute is required to own the sensible expertise and endure the sensible coaching or be exempted there from as prescribed within the Laws for turning into eligible to the Affiliate Membership of the Institute.
The goals of coaching is to apprise the scholars with the functioning of the Company Sector and to create a cadre Company Secretaries having a sound theoretical base and sensible publicity to serve trade and trade successfully, each as part of the management group in addition to impartial practising professionals.
TOP (Coaching Orientation programme for five days)
ADP (Educational Development Programme for 25 Hrs)
Additional, earlier than commencing the 15 months coaching, the scholars are required to compulsorily attend and full 5 days Coaching Orientation Programme (TOP) which is being performed by all of the Regional Councils/designated Chapters. College students might wish to start the coaching, if not already commenced and accordingly submit the Software Type (obtainable on the web web site) and in addition obtainable within the involved Regional Council/Chapters.
Each scholar of the Institute, who has been sponsored for 15 months coaching on or after 01/07/2004 both in a Company or underneath a Company Secretary in Follow is compulsorily required to attend and full 25 hours Educational Development Programme on proportionate foundation i.e. 5 hours for each quarter of remaining coaching. College students are requested to contact the involved Regional Council/Chapter of the Institute. He/She will likely be given the profit to the extent of the period of the Programmes. Now we have suggested the Regional Councils & Chapters to cost confessional charges from the scholars for attending such Skilled Development Programmes. In case you’ve got already commenced/accomplished the coaching, you’re suggested to submit the Certificates in respect of TOP and 25 Hours ADP.
SECRETARIAL MODULAR TRAINING PROGRAMME
Each candidate passing the ultimate examination of the Institute is compulsorily required to attend and efficiently full the Secretarial Modular Coaching Programme (SMTP) designed by the Institute for a interval of 15 days as part of the sensible coaching requirement 公司 會計.
The principle thrust of SMTP is
• To apprise the scholars with sensible facets of among the necessary areas of a Company Secretary’s capabilities.
• To provide first hand publicity within the areas of company management and to construct industrial orientation and drawback fixing aptitude.
• To develop management qualities, interpersonal relations, group spirit.
• Sharpening of expertise in resolution making.
• To develop a mind-set for excellence in rendering skilled services.
Throughout the programme, the members work together with senior members of the Institute, Authorities officers, officers of economic and different Establishments.
Goal of the SMTP is to construct a bridge between data acquired and its software in precise work conditions with a view to growing a whole skilled and in addition to enlarge his/her perspective.