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Volume No.

Student Company Secretary ISSN 0972-2874
June 2007

Chairman President
Edited, printed and published by
S. Balasubramanian Preeti Malhotra(Ms.)
N.K. Jain for the Institute of
Members Company Secretaries of India,
Keyoor Bakshi
(In alphabetical order) 'ICSI House', 22, Institutional
Ajit Yadav Members Area, Lodi Road,
Brahm Avatar Agrawal(Dr.) (In alphabetical order) New Delhi - 110003
Girish Ahuja(Dr.) Ananthasubramanian S N • Phone : 24617321-24,
G.P. Agrawal Anil Kumar Murarka 24644431-32, 41504444
G R Bhatia Ashok Chandra • Grams : Compsec
Lalit Bhasin Biswa Behari Chatterjee • Fax : 91-11-24626727
M S Sahoo Ghanshyam Dass • E-mail :
Narayanaswamy T V Hanumanta Raju Datla • Website :
Nesar Ahmad Harish Kumar Vaid • Printed at Daily Tej Pvt. Ltd.
Pradeep Kumar Mittal Lalit Bhasin 8-B, Bahadurshah Zafar Marg,
Raj Kumar Agarwal (Dr.) Narasimhan B New Delhi
RakeshChandra Nesar Ahmad • Phone : 42225134, 42225111
Renu Budhiraja(Ms.) Milind B Kasodekar • The Institute is not in anyway
S K Verma(Dr. Mrs.) Pradeep Kumar Mittal responsible for the result of
Sanjay Grover S R Bansal any action taken on the basis
Sanjeev Kumar (Dr.) Sanjay Grover of the advertisements
V K. Agarwal Sridharan R published in this Bulletin.
Sudhir Babu C
Editor & Publisher Vinayak S Khanvalkar
N. K. Jain Y S Malik
Secretary & Chief
Executive Officer
N.K. Jain


● From the President 03
● Academic Guidance 05
● Legal World 13
● Student Services 16
● Schedules of SMTPs/TOPs/ADPs 20, 28
● News and Announcements 22
● Students Quiz 27
● EIRC Programmes 32

Student Company Secretary 1 June 2007

Training Orientation Programme

As per Company Secretaries Regulations, 1982 (amended the significance and methodology of training, business
from time-to-time) every student apart from passing the final environment, corporate culture, communication and
examination of the Institute is also required to possess the behavioural aspects. Keeping in view the above factors, the
practical experience and undergo practical training or be Council of the Institute has decided that students requiring to
exempted therefrom before becoming eligible to the Associate undergo training should compulsorily attend five days’ Training
Membership of the Institute. Students who do not possess Orientation Programme (TOP) before they are sponsored for
practical experience are required to undergo compulsorily 15 training. It has also been decided that henceforth students
months Management/Apprenticeship training. will be sponsored for training in the companies or with company
Most of the students commencing training are not aware of secretaries in practice as per the following schedule.

Activities Session–1 Session – 2 Session – 3 Session - 4
Registration of students January 1 to March 01 to June 01 to September 01 to
for 15 months’ Training January 10 March 10 June 10 September 10
Organisation of TOP January 15 to March 15 to June 15 to September 15 to
January 24 March 24 June 24 September 24
Campus Interview January 25 to March 25 to June 25 to September 25 to
January 31 March 31 June 30 September 30
Commencement of February 01 April 01 July 01 October 01
Training Onwards Onwards Onwards Onwards
Completion of April 30* June 30* September 30* December 31*
Training Next Year Next Year Next Year Next Year
* If the student avails extra leave, the training will be extended accordingly.
Training Orientation Programme is a part of the 10. Usefulness of reading newspapers
Management/Apprenticeship training and is based on Guru 11. Self-assessment
Shishya Parampara. Training Orientation Programme will not — SWOT analysis
only expose the students to the business environment and — Career prospects
corporate functioning but would also help them in acquiring
— Personality
the desired skill and confidence.
12. Writing of curriculum vitae
The Regional Councils will organize the Training Orientation
Programme from 15th to 24th of the four fixed months i.e. 13. Interview Techniques
January, March, June & September. 14. Career Planning
For effective interaction and participation, not more than 15. Computer-Internet/E-mail
40 students would be enrolled in each TOP. A fee of Rs. 400/ 16. File management
- per participant will be charged. 17. Organisation structure, role and functioning of Competition
The following topics will be included in the programme : Commission of India, CLB/NCLT, ROC, Stock Exchange,
1. Importance of Training
18. Usefulness of Professional Development Programmes.
2. Personality Development- Dress Code & How to carry
oneself 19. Code of Conduct
20. Future Prospects
3. Time Management
For helping the students to identify Companies or Company
4. Meaning of Professionals
Secretaries in practice for undergoing training, the Regional
5. Office Culture Councils would also arrange Campus Interviews, immediately
6. Communication Skill on conclusion of each TOP for on-the-spot selection of
— Writing ability candidates. Such Campus Interviews will be organized during
— Drafting of letters the four fixed months from March 25 to 31; June 25 to 30;
— Speaking ability September 25 to 30 and January 25 to 31.
All students intending to commence Management/
7. Group discussion, Drafting of Minutes, Notices,
Apprenticeship training are advised to contact the respective
Resolutions etc.
Regional Councils for enrolling themselves for TOP. Only on
8. How to qualify professional examination successful completion of TOP, students would be sponsored
9. Managing under crisis for training by the Institute.

Student Company Secretary 2 June 2007

From The President

Don’t lower your expectations to meet your performance.
Raise your level of performance to meet your expectations.
Expect the best of yourself, and then do what is necessary to make it a reality.
…Ralph Marston

Dear Students,
After undergoing the strenuous task of writing the examinations, you require a short break to
relax your mind and body allowing it to recharge and rejuvenate. By doing so you will feel better
and energetic to resume your daily activities and also devote more time towards your studies.

Friends, facing examinations is really tough whether it is professional or non professional. We
all have undergone this strenuous phase right from our school days. So don’t think that you are the only one who is facing the
examinations. In fact, generations have appeared in the past for examinations and generations will be appearing in the future too.
The fact is one cannot do away with it nor can the students run away from the examinations. But over the years the word
examinations have triggered an insurmountable block in the minds of many a student who are appearing for to test himself or
herself at one examination or another.
There are several students who become anxious or nervous whenever they take exams though they are able to learn and
integrate information well, but because they are fearful, these students do not perform to the best of their potential. Examination
anxiety is almost universal. Getting stressed out before or during the exams has unnecessarily become natural. In fact, it is
unusual to find a student who doesn’t approach the exams without anxiety or tension. As has been observed, examination
anxiety causes problems in some students, such as upset stomach, headache, loss of focus, fear, irritability, anger and even
depression and, yes, sleeplessness. Sometimes students because of the nervousness drop the idea of appearing in the
examinations even though they have prepared well fearing they wont be able to tackle it for one reason or another.
The solution is to cultivate a happy, pleasant and positive mind, a singing soul. The subjects of study are nothing but an
invitation to apply your mind. The happier, the more and more satisfied and the more delighted with itself your mind is, the study,
absorption, solution and expression come more easily and excellently to you. The tension, the nervousness and depression
come out of the negative, unhappy tendencies of mind. The self-confidence that is, by nature’s grace, your own vitality disappears
when mind is unhappy with itself. These tensions, etc come when the mind occupies itself with the bygone past or the untrue
future. If the present is clung to, there is nothing but happiness and creative untapped potential of the self. The present moment
is the gift of God, while the past and future are unreal creations of the woman/man. If the present is happy and creative, full of
concentration, the future that is nothing but the unfolding present is bound to be happy, successful, creative and satisfying.
Therefore one should cultivate the habit of being happily concentrated on the present. That will give one the ability to learn,
absorb, and create a stream of happy successes in examinations and in life.
To limit the examination anxiety/nervousness and perform better, well-organized and effective study habits are the key solutions.
All you need to do is to discipline yourself, stick to the planned timetable. This is one of the best ways to avoid the last-minute
preparation and the resulting anxiety. Cramming without having understood is one of the reasons for feeling anxious for going
‘blank’ before exams. If you have understood the lesson you have won half the battle, and now you only need to creatively
reproduce it. Remember there is no substitute for hard work coupled with discipline. Both are a potent combination for success in
any field.
It has been observed that high performers in any field have the single mindedness and the ability to be totally immersed in
whatever they do and hence win all the way. So to be a high performer, make it a habit to study regularly. Regular hours of
studying will surely result in getting better grades. Have clear realistic goals. Having clear goals give you a purpose to study
better. Set realistic goals that challenge you.
Once you have set your goal, then sit and plan on how you are going to achieve this goal, what actions are you going to take.
How much time will you spend on it? Pay attention to your weak areas. Question, analyze and make plans and follow them
Studying should be done in a balanced manner. Putting in extra and regular hours of study does not cause strain. Studying too
hard or studying continuously for long time creates mental tension and actually slows down learning and memory. Short breaks
will refresh the brain and will help you learn more. Set aside some time for recreation or entertainment.
Avoid negative attitude towards studies. Thinking about studies as dull, boring, hard, etc. will only add more difficulties in your

Student Company Secretary 3 June 2007

In the emerging scenario the professional need to further strengthen these capabilities for increased effectiveness. No one enjoys examinations. Edison got interested in learning. 2007 at New Delhi. 2007 at Jaipur. Nancy Elliot Edison. I informed you in my previous communication that the 35th National Convention of Company Secretaries is being held on the theme “Excellence Through Business Value Addition” on September 20-22. She made him work and encouraged him at every step till he got the expected result. not an end in itself. The job of syllabus review is really to make the course curriculum for the next generation of Company Secretaries. Communication skill-both oral and written have always been the hallmark of successful professionals. He became a voracious reader. That apart. The last date for receipt of the Essay is 14th August 2007. Love your studies the way you love your favourite music or sports. With best wishes. I advise you to ensure your participation at the Convention as a delegate. Jaipur Chapter of the Northern India Regional Council (NIRC) of the Institute is organizing an All India Essay Writing Competition for the students on the theme “Role of Company Secretary in the Emerging Scenario” on 18th August. preparation and a positive attitude. rightly or wrongly. the Institute through its Regional Councils and Chapters organize various programmes to hone the communication skills of its students. Yours sincerely. Have faith in yourself and maintain the “I can do it” Student Company Secretary 4 June 2007 . Anxiety is just a part of the game. EIRC of the Institute is also organizing All India Company Law Quiz programme for the students on 4th August 2007 at Kolkata. He was labeled as “slow learner” by his teachers and was removed from school. Students loathe appearing for them. I advise you all to actively participate in these competitions. It is a futuristic work requiring anticipation and analysis of the happening things on an academic background. The Three P’s of successful studying are: planning. Nancy Edison transformed Edison into a Genius from a ‘dull’ student. he had set up a laboratory in his basement. The so-called ‘dull student’ became an achiever. The topic for Chapters & Regional Rounds is “Independent Directors from Different Functional Areas are Necessary for Good Corporate Governance” and the topic for National Round is “SEZ is Necessary for Faster Development of Indian Economy”. There is a special discount of Rs 500 for the students of ICSI for attending the National Convention. Edison was not a bright student. taught Edison to learn at his own speed and style. examiners rack their brains setting them. Students who enjoy studying have always been among the toppers. As for instance. they are a necessary fact of life. The benefit will be immense. 2007 at B M Birla Auditorium. There are instances where students who were treated as dull or below average have achieved heights. It is a means to an end. But. Face the exams with confidence. Taking cognizance of this desirable necessity amongst the students of Company Secretaryship course. encouraged. Give it the same attention and passion. I conclude by stating that a winner is not one who never fails. Friends. Through love. The work of the Syllabus Review Committee set up by the Council was completed in May and the Committee would be placing its report for consideration of the Council very soon. And ultimately the world got a “Big Genius”. I am equally pleased to inform you that the Eastern India Regional Council (EIRC) of the Institute is organizing its 22nd Regional Students' Conference on 28th July 2007 at Kolkata on the theme “Towards Broadening the Horizon”.’ She motivated. The purpose is to provide the coming students a knowledge and skill input that would enable them to satisfy the expectations of a changing sect of industry and business masters. All out efforts are being made to tie-up best possible faculty to make the deliberations in technical sessions quite educative and rewarding. I advise you to take part in these activities and benefit immensely. I am pleased to inform you that the Northern India Regional Council (NIRC) of the Institute is organizing 6th All India National Elocution Competition on 7th July. markers despair of ever finishing marking them. So develop a positive attitude towards exams. But Edison’s mother. New Delhi (PREETI MALHOTRA) June 14. Look at exams as a means developed to help you reach your goal. Friends. And at the age of 10. From The President learning process. do not allow it control you. did not accept her son as ‘dull. but one who never quits. Jaipur. patience and belief in her son. 2007 president@icsi.

On the Service Tax front. 24/2007-ST. service tax is of this additional cess because the President had given the assent liable to be paid on the rent received after deducting the property to Finance Bill on 11th May 2007. effective has also been made by amending the Service Tax Rules for mak- date for the applicability of this additional cess shall be 12th May ing the provision of self-adjustment of excess service tax paid on 2007. such cess was 4. con- struction – both commercial and residential as well as turnkey g) Design services [Section 65(105)(zzzzd) read with project and benefit has not been extended to the remaining types section 65(36b)] of Works Contract such as repair and maintenance. do not match. 1st June 2007. The following existing services are amended by the Finance ACADEMIC GUIDANCE Act. 2007 Notification No. 2007 (for detailed h) Management consultant’s service [Section 65(105)(r) notifications see http://www. 3. such cess on the new services as well as on the expan. whereas. Prepared by Balwant Kulkarni. now. Director (Academics and Professional which have the overriding effect over Section 67 and the Development). maintenance or repair service [Section levied 1% additional cess on the service tax payable on the tax. The assessee is required to deposit additional Such benefit can be taken within one year from the payment of cess under a separate code which has been notified as property tax.TAXATION c) Mandap keeper service [Section 65(66) and 65(67)] d) Pandal or shamiana service [Section 65(77a)] CONSEQUENTIAL CHANGES IN e) Event management service [Section 65(40)] SER VICE TAX LA SERVICE LAWW TO GIVE EFFECT f) Manpower recruitment or supply service [Section TO FINANCE ACTACT. dated 22nd May 2007 and other Notifications giving read with Section 65(12)] effect to the amendment made through Finance Act. 2007 tax paid – vide Notification No. 28/2007-ST. be adjusted subsequently vide Notification No. the Gov- sion of the existing services shall be applicable w. the Gov- the Works Contract for Payment of Service Tax Rules. cial purposes: The Government has announced applicability of Whereas. Notifications are to come into force from 1st June 2007.5 Government has exempted the levy of Service Tax for Serv- Government has notified 1st June 2007 as the date for applicability ices involved in the execution of Works Contract in relation of service tax on the new services introduced by the Finance Act.4 Service Tax on renting of Immovable Property for commer- applicable from the date of enactment of Finance ). it has been provided that a Student Company Secretary 5 June 2007 . 2. 23-32/2007-ST. 25/2007-ST and 26/2007- ST). Therefore. to construction of Port or other Port from the whole of Serv- 2007 vide Notification No. the provision from the date when it is notified or gazetted.. be maintained. the Finance Act. Therefore. 23/2007. Under these rules. the provision has also been made for pro-rata benefit of a view that it cannot be made applicable from the date of the property tax if the period for property tax and the rental period on assent of the President because a law shall be effective only which service tax is paid. Service Tax Valuation Rules. 23/2007-ST. Where the assessee has not availed the benefit of concession of property tax then service tax so paid in excess can “00440252” which needs to be enacted separately on the challan. 2007. service tax liability in respect of the services covered under the category of Works Contract. 2007. The ICSI. 65(64)] able There is tion. service tax shall be applicable from 1st June 2007: the commercial or industrial construction service for construction a) Telecommunication service [section 65 (109a) read with of Port which is now being omitted and replaced with Notification section 65(105)(zzzx)] No. ernment has given concession to the extent of property tax actu- There appears to be some confusion about the date of applicability ally paid in respect of such properties.f. 2007 to expand their scope: a) Sale of space or time for advertisement [Section FINAL COURSE 65(105)(zzzm] b) Rent-a-cab service [Section 65(20)] INDIRECT . i) Consulting engineer’s service [Section 65(105)(g)] 1.3 Effective date of applicability of Service Tax on the expan- a) Composition Scheme: The Government has introduced sion of existing Services: By the Finance Act.6 Service Tax on the Services involved in the execution of 65(105)(zzzz) read with section 65(90a)] Works Contract: The Government has rationalised the levy of service tax in respect of Works Contract which was subject to d) Service involved in the execution of a works contract State levy as well as Central levy and has the double taxation [Section 65(105)(zzza)] effect. b) Mining service [Section 65(105)(zzzy)] c) Renting of immovable property service [Section 6. the Government has issued Notification g) Banking and other financial service [Section 65(105)(zm) No.servicetax. service tax on such expansion of existing services shall also 2007 for providing easy mechanism to discharge the be applicable from 1st June 2007 vide Notificatioin No. ernment has expanded the scope of a number of existing serv- ices. 20071 65(105)(k)]. However.2 Effective date of Service Tax for new Services: The 5.e. this scheme 65(105)(zzzzc)] had been launched only for the specified service namely. as this is a separate cess it has to be charged account of non-availment of benefit of deduction of property tax. To remove this problem some provisions have been intro- e) Development and supply of content service [Section duced so that both State and Central. 25/2007-ST (vide Notification No. Further.1 Secondary and Higher Education Cess : The Government has j) Management. On the existing taxable services. separately in the bill/ invoice and separate record is required to if the same has not been paid before the payment of service tax. 16/2005-ST from the levy of service tax under on which. earlier both f) Asset management including portfolio management and State and Central (VAT and Service Tax) were charged on much all forms of fund management service [Section more than the actual transaction value. levy should not be levied 65(105)(zzzzb) read with section 65(36c)] on more than the total transaction value. The Government has ice Tax: This exemption is similar to the exemption provided by introduced following seven new services by the Finance Act. However. Whereas. Academic Guidance ST. In the said Notifica- was published in the Gazette of India on 12th May 2007. However. All the aforesaid read with Section 65(65)]. service tax on the rent of immovable property.

which is exported. under the of office and recommend appropriate action. Contract. this Scheme would cover all private sector and foreign Tax paid on such Works Contract shall not be included banks operating in India. loss of reputation. 32/2007-ST). The said rule has further prescribed that where the assessee has paid VAT/ Sales The complaints under the Scheme would cover the areas such as Tax on the value of the goods involved in such Works corruption. Under the said rules. rule of export and import of services to incorporate the new serv. 7. for the Composition Scheme and wishes to pay the tax societies or local authorities owned or controlled by the Central at the normal rate has the option to pay service tax at Government and recommend appropriate action. the Government of India had passed the rule that the gross amount on which the service tax a resolution on April 21. suspected / actual fraud. Further. except in cases where complaint turns out to be those services which were provided outside India. Compiled by: Saurabh Jain. detrimental to depositors’ interest / public interest. services. it has also been provided that those assessee CVC in this regard is restricted to employees of the Central Government who opt for the Composition Scheme shall not be eligible or of any corporation established by it or under any Central Act. Centre 1.7 Export of Service Tax and ‘Import of Service Tax’: The Gov. internationally. In other words. in the gross amount so charged. etc. Academic Guidance person liable to pay service tax in relation to Works in the conduct of affairs of public institutions. FOR PRIVATE SECTOR AND FOREIGN Procedure for lodging the complaint under the Scheme BANKS2 The complaint should be sent in a closed / secured envelope. BANKING AND INSURANCE LAW AND PRACTICE Final action taken by RBI on the complaint will be intimated to the PROTECTED DISCLOSURES SCHEME complainant. RBI would keep the identity of the receipt in convertible foreign currency was mandatory only for complainant secret. the complaints under the Scheme. be given by the concerned bank to the complainant before taking such action. it has also been provided under Act in UK. 2007 introduced the Protected Disclosures of each Works Contract in the beginning itself and it Scheme for Private and Foreign Banks operating in India to improve cannot be changed (pl see Notification No. Contract. 29/2007-ST). In the Indian context. has the option to pay service tax at frauds had necessitated. 2007. ices Rules. 1934. Anonymous / pseudonymous complaints will not be covered under ment has also made a significant change in the Export of Serv. Education Officer. Cuffe for ensuring better governance standards and probity / transparency Parade. World Trade Centre. there was no mandatory requirement that the receipt The institution against which complaint has been made can take should be in convertible foreign currency. customers. An opportunity of hearing will. Banking Regulation Act 1949. Third Floor. However. see Notification No. As per the said rule. governance and increase probity in these lending institutions. Under the Scheme. to take the credit of excise duty and education cess paid Government companies. 2006-2007/ provided that assessee has to opt this option in respect 1423 dated April 18. government companies. same value shall be taken as the value of goods failure to comply with existing rules and regulations such as Reserve for the determination of value of services by deducting Bank of India Act. The value of such services shall be determined in the manner prescribed in the said Scope and Coverage rules. employees of the bank concerned (private ernment has made the consequential changes in the respective sector and foreign banks operating in India). Disclosure of information in the public interest by the employees of Reserve Bank of India. Prior to the said amendment. It has been further The Reserve Bank of India vide its press release no. The envelope should be superscribed “Complaint under Protected Disclosures Scheme for Banks”. Fraud an organisation is increasingly gaining acceptance by public bodies Monitoring Cell. and acts from the gross amount charged for Works Contract (pl resulting in financial loss / operational risk. ices introduced by the Finance Act. societies or local authorities owned or on any input used in the execution of such Works controlled by the Central Government. instead of paying service tax at the Whistleblower Protection Act in USA and Public Interest Disclosure normal rate. However. complaints are made under the Scheme. The b) Valuation of Services involved in the execution of scheme has been formulated broadly on the lines of Government of Works Contract: The Government has amended the India Resolution dated April 21. 2004 authorizing the Central Vigilance shall be payable under the Composition Scheme shall Commission (CVC) as the ‘Designated Agency’ to receive written not include the VAT/ Sales Tax paid on the goods involved complaints or disclosure on any allegation of corruption or of misuse in the execution of Works Contract. value of services involved in As Public Sector Banks and Reserve Bank of India (since it is an Works Contract shall be the gross amount charged for entity established under Central Statute) have already been brought the Works Contract after deducting the value of the goods under the purview of Government of India scheme. criminal offences. through enactments such as the Works Contract. The ICSI. 2007 by which now it is mandatory that for every taxable service. Department of Banking Supervision. Large scale corporate Contract services. The complainant should give his / her name and address in the Student Company Secretary 6 June 2007 . etc. Introduction The envelope should be addressed to The Chief General Manager. VAT/ Sales avoid duplication. 2. The salient features the normal rate on the value of service involved in the of the Scheme are as under: execution of Works Contract. however. Mumbai 400 005. stake holders. receipt has to be issued only Reserve Bank of India (RBI) will be the Nodal Agency to receive in convertible foreign currency. the Scheme and such complaints will not be entertained. 2004 authorising the Central Vigilance Service Tax (Determination of Value) Rules. with a view to involved in the said Works Contract. NGOs and members of public can lodge complaints. various legislative measures an amount equal to 2% of the gross amount charged for for safeguarding public interest. The jurisdiction of the said rules. Further. after being advised by RBI. action against complainants in cases where motivated / vexatious 30-31/2007-ST]. vexatious or frivolous and action has to be initiated against the the services which were provided in India but treated as export of complainant. misuse of office. The service providers who does not opt established by it or under any Central Act. the Govern. 2006 for Commission (CVC) as the designated agency to receive written determination of value of services involved in the complaints or disclosure on any allegation of corruption or misuse of execution of Works Contract by introducing rule 2A under office by any employee of the Central Government or of any corporation the said rules. [pl see Notification No.

or a committee of with the complainant. it would take necessary action. Student Company Secretary 7 June 2007 . international 3. should The system evolved herein shall be in addition to the existing be furnished. trends in credit in India. recruited employees of the bank aware of the existence of such a scheme in the bank. He should also make an effort. RBI created. RBI will not issue Boards of Directors. include the following: The Report for 2005-06 comprises nine chapters. grievances redressal mechanism in place.2007. if RBI is of the opinion that the AND ROLE OF THE CENTRAL BANK matter requires to be investigated further. FINANCE. shall be at liberty to take appropriate steps. Chapter VII .2005-063 d) Either as a result of the discreet enquiry. For this purpose. department. Chapter I 1. Chapter II of the Report titled as ‘Recent 2. e) After obtaining the response of the concerned bank and / or on This report can be seen as continuation of several themes addressed the basis of an independent scrutiny conducted / ordered by RBI. if appropriate action as per extant regulations against the person or possible. In case of the complainant or the witnesses in the case need protection. any acknowledgement of receipt of the complaint and the complainants The policy should clearly lay down norms for protection of identity of are advised not to enter into any further correspondence with the RBI employees making disclosures under the scheme and safeguarding in their own interest. if warranted by the facts and liquidity management operations and money market developments in circumstances of the cases. to resolve the issue through internal channels in order to agency making such disclosure. Chapter V titled If any person is aggrieved by any action on the ground that he is as ‘Government Securities Market’ after discussing the role of the victimized due to filing of the complaint or disclosure. Appropriate action to be initiated against the concerned offi.. Directors of the Board may be made responsible for monitoring the If the complaint is accompanied by particulars of the person making implementation of the scheme. institutional structure 5. introduces the theme of the report. details such as name.‘Money Market’ covers the role of the money market. only if the complaint is received under the scheme. b) The identity of the complainant will not be revealed unless the complainant himself has made the details of the complaint either public or disclosed his identity to any other authority. He should study all the relevant facts of RBI’s directions to the contrary. specified above. in the previous years. the Report are as under :- These shall. As a prelude to the substantive cial. FINANCIAL MANAGEMENT c) If the identity of the complainant is concealed. THEME: DEVELOPMENT OF FINANCIAL MARKETS plaint itself without any inquiry. Chapter VI . Chapter III . However. a specific e-mail address has been In case RBI finds that the complaint is motivated or vexatious. as deemed fit. as provided under the of the Board of Directors may also be well defined in dealing with the scheme.’ Some of the major highlights of RBI shall recommend appropriate action to the concerned bank. designation. 2006-07 and 2007-08 so far (wherever data are available). the RBI an employee making such complaint. Banks may factor suggestions of the the complaint. the RBI shall be authorized to initiate and understand their significance. Suitable mechanism should be put in place to make newly was the person who made the complaint or not. deals with the significance of the credit market. Academic Guidance beginning or end of the complaint or in an attached letter. 06. RBI shall to the government securities market. The complainant should ensure that the issue raised by him involves In the event of the identity of the informant being disclosed inspite dishonest intention/moral angle. subject to the facts of the case them from any adverse personnel action. inter alia. deals with the policy take such action. “Development of Financial Markets and Role of the Central Bank”. secrecy of identity Complaints can be made through e-mail also giving full details as shall be observed.‘Foreign Exchange Market’ delineates the various preventing initiation of any adverse personnel action against the aspects of the foreign exchange market in India. RBI assures that. RBI will get in touch complaints received under the scheme. India. theme based discussions. If any further clarification is required. RBI shall make discreet inquiries to ascertain if there is any basis for proceeding REPORT 1 REPOR T ON CURRENCY AND further with the complaint. the theme in last year’s report being ‘The if RBI is of the opinion that the allegations are substantiated. or any other offence covered by the Scheme. RBI may give suitable directions to the concerned bank. Chapter IV titled as ‘Credit Market’ rence of such events in future. The chapter also makes suggestions for further strengthening the role of the credit market in India. keeping in view the broad framework given above. In case the complainant is an employee developments and an assessment of government securities market of the bank. developing the money market. it also makes suggestions for further 4. evolution of the Reserve Bank’s tion of criminal proceedings. Consider initiating any other action that it deems fit keeping and policy developments relating to the credit market in India and in view the facts of the case. if the RBI is of the opinion that either 3. agency to suitably compensate the complainant. and Corporate Debt Market’ deals with the developments and key Either on the basis of application of the complainant or on the basis of information gathered. he may file an government securities market and international experiences relating application before the RBI seeking redressal in the matter. The theme of the Report is ecutive Officer of the concerned bank. the Evolution of Central Banking in India. in India. RBI may also direct such person or avoid making the complaint. As a way forward. Recommend to the appropriate authority / agency for initia- experience in operating procedures. The text of the complaint should be carefully drafted so as not to Framing of Protected Disclosure policy by banks give any details or clue to complainant’s identity. The role and responsibilities being verifiable. Appropriate administrative steps for recovery of the loss Economic Developments’ provides an analytical account of caused to the bank as a result of the corrupt act or mis-use macroeconomic developments in the Indian economy during 2005- of office. the RBI shall take the following steps: unions / associations of officers / employees before framing such a a) If necessary. or on the basis of com. All private sector and foreign banks operating in India may frame a ‘Protected Disclosures Scheme’ duly approved by their respective In order to protect the identity of the complainant. it would ascertain from the complainant whether he policy. The details of the complaint should be specific and verifiable. The Board. Recommend taking corrective measures to prevent recur. RBI may consider call- The Reserve Bank of India released its Report on Currency and ing for the comments / response from the Chairman / Chief Ex- Finance 2005-06 on 31st May.‘Equity complainant. institution and place of posting etc. shall issue appropriate directions to the concerned bank. Source : RBI Press Release : 2006-2007/1642 dated 31-05-2007.

financial markets it has always been the endeavour of the authorities to develop financial were stable. when call money various segments of the financial market. have evolved over time spawning new instruments and participants Their implementation would need careful sequencing in tune with the with varying risk profiles in line with the changes in the operating evolving domestic and global developments. the Reserve Bank the financial markets encompassed all segments .4 per cent y-o-y. there is still some way to go before market also encountered brief spells of volatility during May-June 2006 all the segments of the financial market are fully developed. 2006. The money market is a key component of the financial system as it is the fulcrum of monetary operations conducted by the central bank Various measures suggested in this Report set out only the broad in its pursuit of monetary policy objectives. the equity market and the private corporate debt stabilisation scheme (MSS). and preparing for revenue. managed liquidity with a judicious mix of the available tools. The balance of markets in India. Student Company Secretary 8 June 2007 . payments position remained comfortable. including in financial markets. and stability of markets as also to facilitate integration of markets. The need for sustaining higher 2005-06. a credible way. Participants of the Reserve Bank have also been fine-tuned to enhance the in financial markets are exposed to various risks. The final Chapter of the Report . the policy initiatives. especially scheduled commercial markets. These risks. Large Indian financial markets and to identify the substantive issues that capital flows continued much in excess of the current account deficit. On the whole. the need for developed financial markets has never been felt banks. markets integration in India. captive market for government securities. all point to the need for continuing The external sector continued to reflect dynamism with strong sustained and perhaps accelerated efforts at developing financial growth in merchandise exports of goods and services. despite high and volatile In order to strengthen the understanding of the structure of the international crude oil prices during the most part of the year. The approach to liquidity management. real estate and business services’. Public economic growth. Whereas and February/March 2007. statutory pre-emptions. Academic Guidance issues relating to the equity market and the private corporate debt Recent Economic Developments market in India. A significant feature of Assessment’ presents some final reflections on the key issues for the industrial sector performance has been the continued high growth further developing the various segments of the financial market in rate of the capital goods sector. quantitative ceilings. The thrust of the Report is to assess the outcome Money Market of various policy measures and to explore the way forward for developing the financial markets in India further. transport and communication’ and ‘financing. liquidity the credit market.the money market. hotel. were marked by administered interest rates. measures. During 2006-07. the early 1990s. and market participants. Notwithstanding the delayed start. the structure of financial markets has witnessed a remarkable change in terms of financial instruments traded in various Financial markets remained orderly. driven mainly by primary food articles and manufactured and current and capital account restrictions. need to be addressed. The Report undertakes an in-depth analysis of various segments placed real GDP growth at around 8. Barring these episodes. 2007 as compared with 5. underpinned by robust macroeconomic fundamentals. pegged exchange rate. In order to ensure ‘effective liquidity market. highlighting the current major issues and cent at end-March 2007. Reforms in prices in the consumer basket. which more than offset the higher expenditure. witnessed improved business and financial performance during as strongly as at this point of time. Along with the shifts in the operating measures suggested would also be contingent upon the development procedures of monetary policy. Accordingly. maximising the gains showed improvement on the back of buoyancy in both tax and non-tax from financial integration and minimising its costs. easing of that appropriate liquidity was maintained in the system to meet the restrictions on flows or transactions. Financial institutions. short-term interest rates have emerged to manage them could have serious implications for the financial as a key instrument of monetary policy since the introduction of LAF. policy performance during 2006-07. it would be necessary innovations in the wake of greater openness of the economy to develop market players who understand the risks and have the necessitated the transition from monetary targeting to a multiple wherewithal to manage them. developing a diversified financial system. Headline inflation remained at an elevated level from November excessive reliance on central bank financing. Financial markets in India before the early 1990s the Indian Economy is expected to grow at a robust pace. The transferring of risks to those market indicator approach with greater emphasis on rate channels for monetary participants who do not understand them and do not have the capacity policy formulation. as on May 5. insurance. have certainly rates moved up to high levels due to liquidity frictions.7 per cross-country comparison. be which has become the principal mechanism of modulating liquidity calibrated keeping in view the degree of comfort in moving forward in conditions on a daily basis. continued to ensure The emphasis has been on strengthening price discovery. selected as “Development of Financial Markets and Role of the Central The Reserve Bank in its Annual Policy Statement for 2007-08 Bank”. in general. barring brief spells in November segments of the financial market. the theme of this Report for 2005-06 has been resulting in substantial net accretion to foreign exchange reserves.. mainly reflecting the higher impact of higher food the Indian financial sector. the liquidity management operations of appropriate market infrastructure and market players. consistent and enhancing liquidity and efficiency. wide-ranging reforms were introduced in throughout the year. Although and mid-December 2006 and in mid-March 2007. As a result of various reform with the objective of price and financial stability. therefore. the foreign adjustment facility (LAF) and issuance of securities under the market exchange market. smooth capital account convertibility. Money markets in India direction in which reforms in the financial markets could move in future. lowering of transaction costs. As a part of structural products. was 5. system. viz. legitimate requirements of credit for productive purposes. the overall performance of the they remained relatively underdeveloped for a variety of reasons until South-West Monsoon turned out to be close to normal.5 per cent. effectiveness of monetary policy signalling. Although financial markets in India have existed for a long time. The increasing financial need to be managed carefully. The implementation of procedures of monetary policy. improving the transmission mechanism of monetary finances of both the Centre and the States as per revised estimates policy. the government securities market. In view of this. The equity become deeper and more liquid. Chapter VIII titled as ‘Financial Market Integration’ The Indian economy continued to exhibit robust macroeconomic covers concept and dimensions of financial market integration. Industrial production maintained its measures enabling market integration in India and domestic financial momentum with growth accelerating to double digit during 2006-07. Consumer price inflation remained above the WPI inflation reforms in the early 1990s. The development of financial markets in India has been management. however. Headline WPI inflation of the financial market in India in terms of inter-temporal development. the Reserve Bank in March 2007 modified and put in pursued to bring about a transformation in the structure. accelerated during the first three quarters of 2006-07 mainly led by Theme of the Report the sub-sectors‘trade.‘Overall propelled by strong growth in manufacturing. The pace and sequencing of measures could. therefore. The growth in the services sector India. efficiency place an augmented programme of issuance under the MSS with a mix of Treasury Bills and dated securities in a more flexible manner.

It would. Concerted efforts therefore need to be made to popularise enhanced presence of foreign banks. introduction of prudential norms. reduce the in the early 1990s in a phased manner to move away from a financially transaction cost and improve the flow of credit to the SME sector. further rate environment. entry of new private sector banks. on the whole. rating. enhanced competition. Various reform measures decelerated sharply during 1999-2004. liquidity forecasting techniques need to be further The Self-Help Group-Bank linkage programme. there is a need to consider While credit flows to agriculture and the SME sector have increased broad-basing the pool of underlying collateral securities for repo in recent years. lending rates. This. While informality of Prior to initiation of financial sector reforms. 2005 has been enacted institutions suffered from several inefficiencies such as high and the rules and regulations there under have also been notified. have resulted in a relatively deep. The credit and to enable the credit market to play an important role to requirement of rating for issuing CP could potentially be made more sustain the growth process. in turn. The reforms have also strengthened cost delivery alternatives offered by IT. which is largely for the project related activity. flexible. has increased further due to the conversion of two counseling institutions for educating individuals to assess their credit major development finance institutions (DFIs) into banks. The switchover to auction based system of years. A welcome development has very transparent. Greater efforts would be required to expedite development activity in the country. strengthening of accounting A major issue in increasing credit penetration is the collateral that standards and disclosure norms. A key factor underlying the operating procedures in India have been broadly in step with rapid expansion of credit since 2002-03 has been the emergence of international experience and best practices. historically. of the term money market. This would not only facilitate liquidity management but these sectors. credit markets have. several issues need to be addressed. fiscal benefits. This Several measures have been initiated since the early 1990s to develop could be attributed partly to alternative avenues of financing available a deep and liquid government securities market for reducing the costs to industry such as external commercial borrowings and domestic and of government market borrowings. financial sector reforms were initiated country. Direct competition in the banking sector. Credit penetration in the country also needs to be increased. the need is to further increase the flow of credit to transactions. facilitated by benign interest Notwithstanding the considerable progress made so far. revival of investment demand. after witnessing some deceleration in the late 1990s. and An important issue facing the SME sector is that it is perceived as allocation of resources through mechanisms such as maximum more risky and hence banks charge relatively high rate of interest and permissible bank finance (MPBF) and selective credit controls. credit institutions operated micro-finance structure is important. prove to be counter-productive in the long run. merger of two DFIs into banks. Some households might also be availing credit beyond what they can the relative significance of banks. appropriate indigenous/local safeguards against such practices and administered interest rates. On the countries in the overall financial system in recent years. which could profound transformation of the credit market since the early 1990s. repressed regime to a liberalised regime through measures such as Independent rating of borrowers will also help to avoid the collateral deregulation of interest rates. been large credit expansion to the agriculture sector in the last few years. Against this backdrop. Banks have been introducing complex products in recent years. reflecting the impact of various policy measures. There has been a institutions (MFIs) are charging very high interest rates. demand for housing and personal loans. Prime Lending Rate (BPLR) are viewed as opaque. areas. facilitated for pricing other financial instruments and to conduct monetary policy by strong corporate profitability. requirement. already the predominant players in easily service. thereby increasing the role of based products. will improve the quality of credit. to provide appropriate benchmarks international capital markets. As a result. has increased in The changes in the money market structure and monetary policy the current decade so far (up to 2005-06). emptions. there has been a significant This suggests that banks are filling the gap created by conversion/ transformation of the money market. Although banks have been given the freedom to determine their credit extended by banks has expanded rapidly beginning 2002-03. The concept of moderation in interest rates and decline in NPAs appear to have arriving at the BPLR needs to be looked into with a view to making it contributed to rapid credit expansion. However. Credit insist on collateral. the interest rate channel of monetary policy is such limits are taken care of by banks’ own internal system of ALM likely to have a greater influence on private consumption and economic framework. In view of growing the call money market would need to graduate to a system. Internal generation of funds. Banks need to look into low productivity and efficiency gains. intermediation cost. liquid and vibrant money market. pre-emption of resources through high in their relationship with MFIs. where volume of retail credit. Furthermore. Academic Guidance As a result of various policy initiatives. Although a wide range of credit institutions operate in the country. Total household credit now regulation in the form of prudential limits on borrowing and lending in constitutes almost one-fourth of total bank credit. To facilitate increased access to formal channels of also promote the development of underlying debt instruments. it is reported that some micro-finance allocating savings towards productive purposes. Finally. The Credit Information Act. statutory liquidity ratio (SLR) and cash reserve ratio (CRR). while introducing IT the banks’ risk assessment techniques. reduction in statutory pre. low profitability and high non-performing assets This will facilitate the formation of credit information companies in the (NPAs). These measures have subjected the financial ways to reduce the dependence on collaterals. and provided is the high transaction cost in rural areas. Government Securities Market credit intensity of the agriculture sector (credit to agriculture as The government securities market has gained importance in most percentage of sectoral GDP) has increased in recent years. which participants and technological infrastructure. Banks need to consider alternative from the market. is expected to gain further ground with Bank. Credit intensity of the industrial sector. therefore. in terms of instruments. Credit growth to the SSI sector. has also improved significantly in recent in a flexible manner. Another major issue institutions to market discipline. The Student Company Secretary 9 June 2007 . Although micro-finance activities should In India. noteworthy that. decade so far has been somewhat lower than that in the 1980s. played a key role in be commercially viable. It is demand and credit management in order to mitigate the bankruptcy risk. banks need to keep in view low level of literacy and interest rates in allocating the resources while simultaneously technology orientation and awareness about IT based products in rural enhancing the transmission of monetary impulses. the principles followed by banks in fixing their Benchmark Robust macroeconomic performance. increase in income levels and growing development of the money market calls for more measures. the NABARD taking up a programme for intensification of these Credit Market activities in 13 identified states. be very useful to establish credit the credit market. NABARD and banks need to build under a regulatory framework characterised by barriers to entry. which has become refined for proper assessment of liquidity conditions by the Reserve quite popular in recent years. step towards development of the government securities market. also picked up from 2004-05. and permitting banks to raise capital banks insist on for extending loans. The other hand. growth in credit to industry during the 1990s and the current government securities market in India has evolved over the years. There has been a sharp increase in medium and long-term issuance of government securities in the early 1990s was a major bank credit to industry.

a well-functioning bond market can also enhance the environment for more than a decade after the introduction of reforms initiated in the early 1990s. Furthermore. Academic Guidance investor base has become more voluntary and diversified. imparting considerable stability to the government securities customer service. as has already been announced. reflecting a progressive diversification of investor base. exchange rates). Technological developments instruments. exposures which may not relate directly to information with a minimum time lag. The the market. The investor base needs reliable and liquid yield curve.e. the equity and the government securities operation of a system of market intermediaries in the form of PDs has markets. widening of participants have enabled the introduction of screen-based anonymous trading base. There has been a cost of market borrowings declined consistently. particularly the move towards further liberalisation of capital promote secondary market activity in corporate bonds. there is a need to resources for enabling the corporates to choose an appropriate mix of extend measures taken for enhancing liquidity in Central Government debt and equity. for which a fresh roadmap has been provided by the availability of structured financial products such as mortgage and asset- Student Company Secretary 10 June 2007 . new instruments with innovative features agenda for the future should. maturities. high cost of issuance and lack of liquidity to be widened to counter the possible reduction in the captive investor in the secondary market. The role played by market players currency transactions. with concentrate on their core activities rather than engage in avoidable implications for the functioning of the corporate governance framework paper work. in the domestic economic activity continues to to develop the market. The needs to increase to attract a larger share of household savings in emphasis has been to ensure that procedural formalities are minimised financial assets. exchange operations. Illiquidity in State Government securities affects the cost of A growing economy like India requires risk capital and long-term borrowing for the State Governments. the problem of small size of issues will have to be transactions in the foreign exchange market. apart from relying on internal sources liquidity. The approach to Reforms in the equity market need to focus on developing strong liberalisation adopted by the Reserve Bank has been characterised domestic institutional investors. The management systems. has remained by way of buyback of illiquid securities and issuances of liquid underdeveloped. including equity and corporate debt. the role of the Indian capital market. They will also have to be harmonised with the evolving needs facilitated the Reserve Bank’s smooth withdrawal from the primary of the real economy. efficiency and levels of transparency in the Government has been raising progressively higher share of market equity market. reflecting households’ preference for safe and non-banks. As in the case of government of capital account transactions have resulted in a large increase in securities market. Reflecting the effectiveness of various measures equity as well as debt. The size of the public issues segment has remained small securities market. The strategy of consolidation of government securities mainly have to be harmonised with the evolving macroeconomic environment through re-issuances has led to the build-up of critical mass in key as well as the development of other segments of the financial market. particularly derivative products. Therefore. Banks have significant autonomy to undertake foreign and protection of rights of minority shareholders. Long-term resources are particularly important for securities to State Government securities as well. Concentrated ownership prevents the broad transactions and exporters and other users of the market are able to distribution of gains from the equity market development. include introduction of more have been introduced from time to time. The impact of reform initiatives is clearly such as primary dealers in developing the government securities discernible in terms of improved depth and efficiency of the market. facilitating the emergence of market benchmarks. there is a need to pursue the strategy of active consolidation and bank credit. market may need to be replicated through an appropriate institutional Moving forward. The form of shares and debentures and units of mutual funds remain at holding pattern of government debt shows some shift from banks to relatively low levels. The account market preferences. 2006 as per the FRBM stipulations. turnover in the secondary market has increased be relatively less significant. corporate debt market would require a large number of investors and Full convertibility on the current account and extensive liberalisation large sized issues to function effectively. further relaxations in the criteria of ‘underlying’ to include and reporting platform. A well-functioning domestic capital Foreign Exchange Market market is also necessary to enable the banking sector to raise necessary capital from the market to sustain its growing operations. Nevertheless. Equity and Corporate Debt Market The size of the government securities market during the post-reform The Indian equity market has witnessed a significant improvement period has grown in tandem with the growth in market borrowings of since the reform process began in the early 1990s and is now both the Central and the State Governments. Increased controls. The market development process for bonds in India is likely to be several products have been introduced and new players have entered a gradual process as has been experienced in other countries. rising income levels and savings would require alternative emphasis on the need to safeguard against potential financial instability investment options. A cautious and well-calibrated approach effectiveness of the monetary transmission mechanism. Savings of the household sector in the manifold over the years before declining in 2004-05 and 2005-06. The particularly the money. Promoters continue to hold a large portion of equity so that individuals are able to conduct hassle free current account in the companies. On the supply was followed while liberalising the foreign exchange market with an side too. commensurate regulations along with the operationalisation of the CCIL has ensured guaranteed settlement of entrenchment of modern risk management systems and improved trades. In order to deepen the foreign exchange market. risk elongation of weighted average maturity of primary issuances. The weighted average comparable with the international best markets. The transaction cost has declined and volatility has borrowings through re-issuances under the strategy of passive also been contained. contractual instruments as opposed to capital market-based Notwithstanding the substantial progress in the government instruments. in particular. adherence to international best by greater transparency. therefore. They have also enabled addressed by bringing about more discipline in issuances and the corporates to hedge various types of risks associated with foreign consolidation through re-issuances. The corporate bond market.. that could arise due to excessive speculation. (b) electronic bidding in primary foreign exchange transactions but are affected by movements in auctions and (c) efficient order matching. Reforms in the foreign exchange market will also market. While the strategy of passive consolidation has improved and the private placement market. which enabled visible improvement in trading and settlement infrastructure. financing infrastructure projects. consolidation of debt. base. Mutual funds penetration in the country also transactions to macro management of foreign exchange flows. certain issues need to be addressed for its further as corporates have tended to prefer the international capital market development. data monitoring and information dissemination practices in corporate governance and reduction in time and cost for and to move away from micro management of foreign exchange floating public issues. This has enabled dissemination of (a) trading economic exposures (i. market from April 1. The Indian foreign exchange market has operated in a liberalised Furthermore. Taking into Committee on Fuller Capital Account Convertibility (FCAC). reflecting a variety of factors such as absence of a securities. Counterparty guarantee for foreign exchange market need to be aligned with the external sector settlement of trades to reduce counterparty and settlement risks would reforms. further initiatives towards developing the Indian framework in the corporate bond market.

Greater depth and liquidity and freedom to market participants have also increased the integration amongst the various 2005 IFS purchases by India amounted to roughly $13 billion. Increased integration not only leads 2015. Concomitantly. these are estimated to rise to between $50 billion and $70 to more efficient dispersal of risks across the spectrum but also increases the efficacy of monetary policy impulses. transmission of adverse developments abroad to the domestic (2) High level human capital. Hinterland advantage: India has witnessed rapid GDP growth domestic financial markets. Emerging Asia has become the ‘growth centre’ all the major developments in the financial sector. This suggests a natural rates. (3) World class telecommunications. Financial markets in India have acquired greater depth that domestic financial markets and market participants are in a position and liquidity. deregulation and facilitated by wide-ranging financial sector reforms introduced since integration with global financial markets. 4. Markets have grown in size and current account and the capital account. This is export of financial services from India is synonymous with developing likely to stimulate greater financial integration in the region. However. segments in India has been accompanied by lower volatility of interest particularly in high skill areas like software. Reproduced from RBI Press Release. markets. some further measures may be needed. The pace of the reform was contingent upon putting in place appropriate systems (7) A large and rapidly growing economy that is globalising rap- and procedures. progression to export of financial services. term government bond yield and short-term Treasury Bills rate indicates the significance of term-structure of interest rates in the financial markets. paving the way for flexible use of indirect inevitably induce demand for IFS. There has been idly and thus requires IFS. This underlines the need for (1) An extensive network of domestic and international financial appropriate risk management strategies as also greater coordination firms with an extensive range of domestic and international and information sharing among central banks to prevent the clients. technologies and market practices.and the production of relate to development of the term money. various market segments have also to absorb unanticipated and large shocks that can emanate from global become better integrated over the years. marked by administered interest rates. India’s trade and financial links (IFS). credit controls. graduated (6) A system of financial regime governance which matches glo- and calibrated. Domestic capacity to join London. that requires conscious policy actions and effective implementation. and development and improvements in market microstructure.which is a low revenue support function . Overall Assessment (4) State of the art IT systems. In order to strengthen the process of integration across that there is a qualitative difference between finance-related BPO various segments. the contagion. The approach market efficiency. the corporate debt markets IFS itself. the conventional interest rate channel but also through the exchange Financial Market Integration rate and other asset price channels of monetary transmission. In India. Academic Guidance backed securities can also encourage the development of the corporate integrated financial markets. The report of the High Powered Expert Committee (HPEC) finds prospects. with an emphasis on institutional and infrastructural bal best practices. the government (5) A sophisticated open financial system with a full range of securities and the foreign exchange markets in view of their critical financial products and world class levels of liquidity and role in the transmission mechanism of monetary policy. close co-ordination between the Reserve Bank and the Government. have contributed to better price discovery and even more rapid growth of cross-border flows on both the of interest rates and exchange rates. has taken a keen interest in the development of the money. The HPEC report identifies six advantages that India has in and exchange rate and price based instruments of monetary policy. These . The HPEC report envisages a first phase (2007-2012) where as also with other regulators. markets is likely to increase in future in view of its robust growth 2. like other central banks. Most financial services are There is evidence of India’s growing international integration through internationally tradeable and termed ‘international financial services’ trade and cross border capital flows. monetary policy operates not only through bond market. The integration of the foreign exchange market with the money 2 BRIEF SUMMARY OF THE REPORT and the government securities markets has facilitated liquidity OF THE HIGH POWERED EXPERT COMMITTEE management by the Reserve Bank. which helped in orderly and smooth Mumbai connects India’s financial system to the world’s financial development of the financial markets in India. The Reserve Bank. In a world of 4. Student Company Secretary 11 June 2007 . In the second phase (2012- authorities have brought about a significant transformation in the 2020). By segments of the financial market. Establishing an IFC involves seven elements: as risks. India’s financial integration within the region and with the international financial Mumbai as an IFC. has been one of simultaneous movement on several fronts. the credit. This will mimic what IFCs like Frankfurt or Tokyo do for Initiatives taken by the Reserve Bank and other regulatory their respective national economies. and the secondary markets in CDs and CP. The HPEC estimates that in instruments. Cross-border flows depth over the years. Sharp improvement in developments so that financial stability is maintained in the country correlations between the reverse repo rate and money market rates in while supporting the growth. and recommends that India must aspire for the latter. New York and Singapore as one of the financial markets have transited from a highly administered system – premiere IFCs of the world. A high degree of correlation between long. thereby strengthening the impact of monetary policy on the real economy and Domestic financial market integration in India has been largely inflation. It is to be recognised that the international financial integration involves several benefits as well 3. Their production is concentrated in a handful of ‘international with Asia are also growing amidst recent initiatives taken to promote financial centres’ (IFCs). and exchange control – to a system dominated by market-determined interest rates 5. economy and markets. In the process. by improving the depth and liquidity in the A. policy initiatives have ensured the early 1990s. the equity market has ON MAKING MUMBAI AN INTERNATIONAL relatively low correlation with other market segments. especially. Mumbai has been the hub of almost regional cooperation. Moving towards the of the world due to shifting of production base to the region. Evidence FINANCIAL CENTRE4 suggests that growing integration amongst various financial market India has made considerable progress on services exports. the HPEC recommends that Mumbai must develop the working of the various segments of the financial market. with growing liberalisation. The Indian experience demonstrates that recent years implies enhanced effectiveness of monetary policy the development of markets is an arduous and time-consuming task transmission mechanism. establishing an IFC: These developments.

As a result. currency and derivatives. Human capital: India has four strengths in human capital: (1) FDI. Applicability of Latest Finance Act and other changes for sophistication and flexibility of and the competitive pressures Company Secretaries December 2007 Examination. day. English or Hindi Medium. Year shall be 2007-08 (Previous year 2006-07). (iv) Financial market integration with a shift away from the exist. and following changes applicable for December 2007 Examination: (x) Opening up to IFS support services infrastructure. democracy. and the inadequate universe papers and writing examination partly in English and partly in Hindi of institutional investors. ers. as per the syllabus. to appear in the examination. and rule of law. 2006 for December ten elements: 2007 examination. They lie in the areas of financial sector policy while filling up the examination form as and when the students intend and urban economics. they will have to study Finance Act. and reforming the monetary required to update themselves about all the Circulars. In identical fashion. The HPEC observes that in the early 1990s. an impossible dream. policy regime. These advantages imply that India has a superior starting point papers under the Postal Tuition Scheme in English or Hindi medium. instruments. the option is to be exercised hold India back. This option is to be exercised on group 7. All Circulars. 2006. Intermediate and Final Courses respectively may take note of the (ix) Improving the performance of the legal system. Further. Mindshare: India’s high GDP growth. trade barriers and barriers to B. However. (4) the prominent role that individuals of Indian origin 11. on the movement towards export of financial services. mathematics. the study material at present is available in English medium only. Clarifications. the HPEC has identified two classes of constraints which As regards writing of examination. Gift Tax Act has been excluded from the scope of examination ing segmented approach. (2) generations of experience with able to buy world-class goods. with high levels of liquidity. CLARIFICATION REGARDING HINDI MEDIUM E. compared Similarly. this will give the Indian economy the benefits overlap of a few hours with London. the students can which rank 3rd and 5th in the world by number of transactions. The strategy proposed in the report for achieving an IFC comprises Thus. 1. so that it attracts the best and brightest to the date of examination. students are (i) Reducing the debt/GDP ratio. in respect of Direct Taxes. D. Democracy and Rule-of-Law: India has sound foundations of freedom of speech. The identical program of removing domestic entry barri- FDI for establishing an IFC. Yet the leadership embarked on the re- this natural hinterland advantage would assist this process. Students appearing in the ‘Tax Laws’ (Indirect Tax portion to the (vii) Reforms to taxation of IFS and financial transactions. Answering to test for debt. these revenues will go to other IFCs. moval of domestic entry barriers. globally competitive Indian manufacturing sector was considered Conversely. Queries are often being received by the Institute with regard to the and the success of Indians worldwide has given India considerable option of medium for pursuing the Company Secretaryship Course. with all prices being linked up to each other through arbitrage. It is clarified that the students may opt for pursuing the course F. An IFC requires a full range of traded medium is not permissible. DIRECT TAXES The HPEC report argues that these deficiencies are caused by three core weaknesses: (a) Poor levels of competition. or the markets are illiquid and inefficient with weak arbitrage. Location: Mumbai is well located in terms of time zones. Indian consumers have benefited from being the extensive use of English. This has two implications. and Indian manufacturing exports risk-taking and financial trading. While generating enormous export C. (ii) New approaches on public debt financing. if India chooses to move forward towards an IFC. The size. Clarifications/Notifications issued by CBE&C/ bringing Mumbai up to world standards of urban infrastructure Central Government which became effective six months prior and urban governance. the concept of a on establishment of an IFC. The two strategic weaknesses of finance are ‘missing’ markets wise basis and not on individual paperwise basis. the success with BPO. Student Company Secretary 12 June 2007 . However. extent of topics covered in the syllabus) and ‘Direct and Indirect Taxation-Law and Practice’ (Indirect tax portion) paper of the (viii) Inducing greater competition and innovation. Academic Guidance billion a year. (iii) Creation of the Bond-Currency-Derivatives market nexus. which come in to effect on or before 6 months prior to the date of the respective Examination. In any case. A large proportion of the key ATTENTION STUDENTS! financial products of an IFC are either absent in India. IFS export from India appears far-fetched play in the global financial firms from which India would require today. immigrants from all countries of the world. If India does not proceed 10. the applicable Assessment innovation. with an revenues for India. enjoy the facility of submitting their response sheets to the test 6. (v) A shift from the present over-prescriptive rules-based regu- INDIRECT TAXES lation towards principles-based regulation. Strong securities markets: India has world class exchanges in English/Hindi medium. 9. Notifications issued by CBDT & Central Government. from December 1999 session onwards unless otherwise informed. while being able to of higher GDP growth when savings are intermediated into in- communicate with all of Asia and Europe throughout the trading vestment by a world-class financial system. mindshare amongst global financial firms. (vi) Capital account convertibility. 8. removing trade barriers and removing barriers to FDI will achieve the identical result. (b) All students may note that for the December 2007 Examination Compartmentalisation of the financial system and (c) Barriers to session. There is no other IFC in Indian Standard Time. operating on large financial firms in India are highly inadequate. (3) strengths in IT and have risen geometrically. The final area where a great emphasis is called for is the task of 2. they can opt to write the Institute’s main examination in with the nascent beginnings of software export from India. All changes made by the Finance Act.

Based on the annual accounts a reference was made LW(S) 33. The trial court struck down the name of displaced persons from erstwhile East and West Pakistan and the director from the array of parties and continued the suit against repatriates from the then Burma and Ceylon was funded by the Central the company.Whether eligible for recommend to the respondent company. Central Government. Student Company Secretary 13 June 2007 . It Civil Procedure Code. The latest audited balance sheet of DPCPL could not be decided merely on the basis of one of the being proof enough of the company’s insolvency. Sanjib Banerjee. the Reasons: Order 1 Rule 3 of the Code of Civil Procedure requires landlord. The Central Government being the promoter of the company. In a court challenging the dropping of the proceedings against the director. Companies Act. The question of blacklisting LW(S) 35. The Central Compiled by T. the sub tenants. J.01.Section 433(a).Company outlived its purpose . Most of the facts set out in the winding up petition remained 2007] uncontroversial and it was not in dispute that the company had no funds.2007] only be done in the instant case. & ANR.06. suitable winding up. such persons may be joint in one suit as Central Government to declare closure of the company. candidates. The company Brief Facts: The appellant. [Decided on 31. the impugned orders were set aside for want of following the principles of natural justice. J [Decided on 5. 1985.2006] company through its director negotiated and concluded a written Companies Act. If the order commercial business /dealing by all departments/ministries/offices of of winding up were declined.3.A. sufficient grounds directors being allegedly common to the said companies. Ltd (DPCPL) work nor be able to effectively enforce any legitimate claim against and its subsidiaries for 10 years. Badar Durrez Ahmed.Whether proper. Yes. The rights of the tenants or to it. their right to opt under Reasons: The question as to whether the petitioner was subsidiary the scheme may be considered.Whether holding-subsidiary relationship is Decision: Petition allowed. petitioner was to identify and company. for the Alleging that the said agreement was not honored.12. that person LTD. petition to the Company court. suit was filed against establishment of industries and enterprises to provide employment to the company and the director. for the company to for determining as to whether the petitioner companies were be wound up. Legal World its closure. Director impleaded as one of the defendants – Trial court struck out the name of the director. New Delhi. severally or in the alternative and if made available by it to the company upon an order of winding up separate suits were brought against such persons.Section 4-Holding-subsidiary relationship- Common director. under article 226 of the Constitution of India. and promoted by the Central Government. That can Nandrajog.2007 Brief Facts: Petitioner was a proprietary concern carrying on REHABILITATION INDUSTRIES CORPORATION LTD. etc. Government declined to extend the scheme to the employees who had not opted earlier.2007 by the company to the Board for Industrial and Financial Reconstruction WHALE STATIONERY PRODUCTS LTD.K. As per the said contract. 1956. The State Government would get the land from hearing. As one of the directors of ‘D’ Ltd was the company. 75 SCL 351 (DEL)]. 1956. A writ petition was filed questioning the authority of the of law or fact would arise. a claimant in an arbitration that where right relief in respect of or arising out of the same act or proceeding. The petitioner filed a revision petition before the high Government in furtherance of the cause for which it was set up. the employees would neither have any Government with Delhi Paper Products Company Pvt. IN RE [(2007) business of providing human resources facilitation by locating right 137 Comp Cas 136(Cal)]. [139(2007) DLT 688. [Decided on candidates suitable for top-level managerial positions. a lessee. Yes. Accordingly. subsidiaries of‘ DPCPL or not had to be undertaken in the context of provisions of section 4.Held.Winding up petition by the contract. inter alia .Held. LW(S) 34. Padmanabhan. Decision: Petition allowed. The exercise are made out.Liability of director of a company- was open to the respondents to issue a show cause notice to the Suit for damages alleging breach of contract by a company- petitioners. the company sought its winding up on Issue: Under what circumstances and on what pleadings. common questions being passed. The respondent 22. is blacklisted in respect of dealings with the Government. On a Writ petition by the employees who had not opted LEGAL WORLD under the scheme. the sub-tenants would not be extinguished upon the company being wound up. The company later cancelled the contract. liberty was granted to those employees to opt if the scheme was revived by the Central Government. either upon or without any application of the Central Government had the authority to issue the notice seeking either party to strike out a person improperly joined as a defendant. a director the ground that by passage of time it had outlived its purpose and did of a company can be made liable for the breach of contract made by not carry on any business and the strength of the staff was brought the company? down by offering a voluntary separation scheme supported by the Decision: Petition dismissed. The State Government though not opposed transaction or series of acts of transactions is alleged to exist against to the winding up order nevertheless sought the reversion of the land various persons whether jointly. No. UNION OF INDIA [(2007) under the Sick Industrial Companies (Special Provisions) Act. FCS. (2007) 75 SCL 487 (Del)]. apart from section 433(1) of the Act.Held. The petition was opposed by several persons having various interest in the company such as the workmen. Government directed to hear the the workers had the added protection and in the pending proceedings petitioners. Reasons: None of the objectors would be prejudiced if the Brief Facts: The Government of India had imposed a ban on company’s operations were closed down limiting its work. 1908.06. The question defendants.. a Government company incorporated agreed to pay some post-cancellation compensation to the petitioner. created. The rights and the liabilities of the company would remain also a director in the petitioner company it was also black listed as a with it despite an order of winding up and could be enforced against subsidiary of DPCPL for 10 years without giving an opportunity of the official liquidator. it would be necessary to obtain the submissions and statements of the petitioner companies. CUSTOMER SERVICES INDIA PVT. GENERAL LAWS For that purpose. v. at any was referred to the Industrial Disputes Tribunal and it was held that stage of the proceedings.2007 is a serious one and it is well settled that before any person or company TRISTAR CONSULTANTS v. Sub-rule (2) of Rule 10 of Order 1 permits a Court. J. Pradeep or company must be provided an opportunity of hearing. The petitioner company challenged this treatment meted out the official liquidator if it were entitled to. a creditor. Advocate. after interviewing.06. The question as to whether such employees CORPORATE LAWS should be offered the benefit of the scheme was pending consideration in a writ petition.

the appellant can only be dealt with after the conclusion of the trial. that is the sale of goods. the articles of company confer such a power. An the charge of its affairs. be aware of the arrangements within the company in regard to its Though the amount demanded in the instant case was described management. all that a payee of a cheque that is dishonored can be company has to act through a living human being. If the interpretation that tax can cheques. Those are cause of action disclosed against a person impleaded as a defendant. where on behalf of the company and of their being in charge of the company. the same can be adequate material for proceeding against the appellant in terms of done only by demanding tax in advance before the occurrence of the section 138 read with section 141 of the Negotiable Instruments Act. The board of expected to allege is that the persons named in the complaint are in directors. [Decided on 19.2007 P. it was in effect a payment in advance towards the tax Student Company Secretary 14 June 2007 . Directors of companies have been described as agents.Collection of tax in correct.vis third parties. So. he is expected only to be aware as defendants against whom averments are made which. a charge of it. that accused check post at the time of import of certain evasion prone commodities Nos.Dishonour [(2007) 8 SST 33(KER)]. 1973 seeking the quashing of the complaint advance thereon. the creditworthiness and reliability by looking at its promoters and board purpose of the subsection. The cheque was instructed to do so or whether he has been deprived of other facet of the aforesaid proposition of law is that there must be a this authority to do so when he actually signed the cheque. But directors of a company owe no directors of the company and were in charge of the affairs of the fiduciary or contractual duties or any duty of care to third parties who company. 1881. They perform acts and duties In the instant case. directors are agents of the in the complaint are that at the time when the two dishonored cheques company to the extent they have been authorized to perform certain were issued by the company. individual director has no power to act on behalf of a company of An allegation in the complaint that the named accused are directors which he is a director. further clarifications responsible to the company for conduct of business of the company were issued regarding the collection of sales tax in advance and on and that they were jointly and severally liable for the act of the company. that he was never assigned any of the company’s financial or other business Decision: Petition dismissed. The petitioner sought to quash the said circulars by contending that he was nominated as honorary chairman without any filing a writ petition in the High Court. Brief Facts: The respondent filed a complaint under section 138 Brief Facts: The Commissioner of Commercial Taxes issued a of the Negotiable Instruments Act. collectively.Whether unconstitutional. If evasion of tax is to be prevented. The directors are prima facie in that position. prevention of evasion of tax will be of directors and the nature and extent of its business and its defeated. Therefore. The complaint referred to the point of time when the two the company. 1881-Sections 138 & 141. or. rule’ of interpretation has to be followed.06. two consignments of the petitioner dealer The appellant moved the High Court under section 482 of the Code of were detained at the check posts and it was called upon to pay tax in Criminal Procedure. remuneration by the investors and promoters of the company. they will be liable to the company and its shareholders. on proof generally of who are in charge of the affairs of the company. he may not of Section 47 (16A). activities or entrusted with any job or business activities or entrusted Reasons: According to the petitioner the provision of section with any job or business nor constituted a signing authority. Legal World In a suit for recovery of money. section Reasons: A person normally having business or commercial 47(16A) has to be read as authorizing the Commissioner to direct dealings with a company would satisfy himself about its payment of tax before the taxable event takes place. cheques were issued. matters peculiarly within the knowledge of the company and those in It is settled law that a company is a juristic person. K.Offence by company-Honorary chairman of the 8. daily routine.06. J [Decided on of cheque. It the above interpretation is accepted. 2003 . On the other elements of an offence under section 138 being satisfied.Held. In the light of this rule. So. the very pleas put forward by the appellant in a petition filed under section 482 purpose of the section will be defeated and the provision will become of the Code of Criminal Procedure and that the complaint disclosed meaningless. advance at the check post.Held. Other than that.2007] FANTACY SALES CORPORATION v SALES TAX INSPECTOR Negotiable Instruments Act. Tarun Chatterjee & LW(S) 37. as to come to a conclusion that the allegations as a whole were not Directors of a company are referred to as agents of the company sufficient to show that at the relevant point of time the appellant and in the context of their fiduciary duty to the company and therefore if the other were not alleged to be persons in charge of the affairs of the they derive any personal benefit while purporting to act on behalf of company. stating. No. the allegations for the benefit of the company. Therefore. when a cheque issued to as advance tax.Balasubramanyan. The contentions sought to be raised by in the conventional sense of an agent.2007] company has been impleaded. The provision is the appellant had effectively resigned and that he had not signed those introduced to prevent evasion of tax.2 and 3 were its directors. Yes. JJ. Therefore. BHARAT SANCHAR NIGAM LD [(2007) 137 Comp Cas 198 (SC). the above said circulars had to be held intra virus memorandum or articles of association. in spite of notice of dishonour.03. directing officials to collect sales tax in advance at the border and its directors (the appellant being one of them). It is not would entitle the plaintiff to a decree whether jointly or severally or in reasonable to expect him to know whether the person who signed the the alternative against the said persons named as defendants. company they act in a fiduciary capacity. the same will On appeal to the Supreme Court. only such persons can be impleaded him by the company is dishonored. JT 2007 (6) SC 292]. that he 47(16A) only authorizes the Commissioner to issue circulars to demand had resigned when problems between the promoters and investors tax after the taxable event. takes decisions on behalf of the company. Thus. Otherwise.Section 47 (16A)-Collection of by him dismissed by the High Court.2007 TAX LAWS N.whether the High Court was tax in advance. trustees the burden is on the board of directors or the officers in charge of the or representatives of the company because of the fact vis-à-vis the affairs of the company to show that they are not liable to be convicted.Tax-evasion prone goods. the appellant and another were the acts on behalf of the company. reading the complaint as a whole. vis-a. (NI Act) against a company circular. the basis of the said circulars. that the two cheques in question were dated after appointed day for payment of tax by the dealer. but before the started developing . The High Court held that the court could not decide the be demanded only after the sale takes place is accepted.RANGACHARI v. namely. taxable event. unless there is a specific resolution of the board of the company itself would usher in the element of their acting for and of directors of the company giving specific power to him/her. the ‘golden Decision: Petition dismissed. dishonour and failure to pay But the directors cannot be treated as acting as agents of the company. LW(S) 36.04. render the provision ineffective to prevent evasion of tax. It was not proper to split hairs in reading the complaint so deal with the company. that they were in charge of and into the State. etc. On the representation of the dealers. their presentment.Petition for quashing the complaint Kerala Value Added Tax Act.K.Balakrishnan Nair.

Further. Section 16 of the Depositories Act. Dt. v. under the Payment of Wages Act. the same ATTENTION STUDENTS! would not include back wages. The Respondents filed a complaint. recover the payment of 50% of the back wages/allowance while considering the same from the Participant.A.Whether depository is liable time Practice. Participant is an agent of the Depository for the demat purposes. When the statute authorizes issuance of 1996 any person. The actual of the shares was considerably delayed for one reason or the other tax will be assessed only after the sale takes place and that too. Therefore. the Labour Commissioner passed the applicant proposes to act as a participant. 1986. S. the stipulated time. It. Regulation 16 thereof provides that an applicant has to file an application in Form-E. As per the Training Guidelines. namely.Held.06.Delay in viz.10 and 16 of the Depositories Act. No. JJ. [II (2007) effect from the date of execution of Contract. were dematerialized after undue delay. trace the goods and in some cases. submitting the Contract of Apprenticeship and other relevant documents and registration fees to the Institute after a considerable CONSUMER PROTECTION & COMPETITION LAWS period of time. cannot be said to be erroneous on this “bonus”. Student Company Secretary 15 June 2007 . a person is required to file an application in Bonus was included in the wages. advance collection is made Depository’s appeal is digested here. It has been observed that the students opting for undergoing 15 Even now.being the Registration Fee. Hence.Shah (President) & Mrs. The decision of the Supreme Court in State of Rajasthan v. after considering on sale price. The Apex Court in the case of before the State Commission. which. E. to the negligence of the Participants. For being dispute raised. i. appointed as a participant. Regulations. the Depository shall indemnify Reasons: The Labour Court in its award directed reinstatement of such beneficial owner. [Decided on 9. based and it was belatedly done. In the instant case also. includes allowance.B. Payment of Bonus Act also point. (2006) 6 SCC 733 reiterated the well settled days time which could be extended to 30 days in the event of very position that the taxable event is the sale of goods. for Industrial Disputes Act. It is expected that had the Labour TRAINING Court intended to include the same. after they cross Against the order of the State Commission the appellants appealed to the border. What was directed was to pay the amount to the beneficial owner and. That means for the negligence in discharge of 17 workmen on the original post and pay scale. there is nothing illegal with the impugned circulars. Consumer Protection Act.5. who intends to dematerialize the share certificates. excludes bonus for the purpose of calculating the amount of bonus to be determined in terms of Section 10 thereof. the dealer also. bonus does not come months training with Company Secretaries in whole-time Practice are within the purview of wages. through each Depository in which Brief Facts: In a labour dispute. towards tax. Justice M.Sinha & Markandey Katju.T. the trainee and the Company Secretary in whole- conversion into dematerialized form. So.Reinstatement awarded with 50% back wages. was also included in the wages. Bonus may be a deferred wage but the same must be construed in a different context. for negligence . the taxable event was the sale. Considering this aspect. the students should submit the LW(S) 39. they had sent to the Indusind Bank Ltd. Indusind Bank. that is. LABOUR COMMISS. The State Commission.2007 Depository comes into picture only after shares are dematerialized HAMDARD (WAKF) LABORATORIES v.2007] paper of requisite value as applicable to the particular State.Participant informing the depository. and information is given to the Depository to that effect. to say. India Ltd.Termination of workmen. it is difficult to the contentions allowed the complaint and awarded compensation. VIMAL MITTAL & ORS. Yes. the dematerialization. It was sale.Investor depositing the shares with The Contract should be executed by both the parties participant bank. no continuity of service was directed.2007 underlisted documents within 15 days from the commencement of training to enable the institute to take their training on record with INDUSIND BANK LTD & Ors. (iii) Rs. The decision rendered with respect to the to them to avoid tax evasion. To avoid evasion of tax. Brief Facts: In this case the appellant bank is the Participant. the Depository. (ii) Statement of Particulars to be submitted in duplicate for reg- istration as a trainee (Part A & B). DY. CPJ 161 (NC)]. It was alleged that for no fault of the complainants. 50/. dematerialization the shareholder has to approach the Participant who 27. it cannot be said that LW(S) 38. It also further lays large number of shares submitted for conversion into dematerialized down that the actual sale price alone could be the basis for levying form. not make it unconstitutional. For IONER [JT 2007 (6) SC 329]. he would have explicitly said so. where the contract is executed. The interpretation given to sub-section (16A) of section 47 that is authorizing collection of tax in advance will Reasons: Under sections 4. Legal World that may become payable in future. there is no substance in the appeals filed by the NSLD.06. the consignee dealer of the goods has to be tied down the National Commission. But in the case of evasion prone goods.04. National Securities Depository Ltd is the Depository and the If the aforesaid documents/information is not received within respondents were the investors.Held. however. When used in the context of ‘back wages’ and that too 50% of it. 1996. the order passed by the State Commission Definition of ‘wages’ within the meaning of the Act does not include holding the NSLD jointly liable. It was contended that share certificates the power to demand advance payment towards tax when the goods of Rolta India Ltd. dematerialization of shares. For this a Depository enters into an agreement with one or more participants as LABOUR & INDUSTRIAL LAWS its agent as contemplated under Section 4(1) of the Depositories Act. is required granted. namely.4.e. can avail the services of Depository through Participants. Therefore. namely.Whether inclusion of bonus in a prescribed form as provided by SEBI (Depositories and Participants) wages is correct. question of back wages. (2003) 5 SCC 239 upheld dematerializing their shares. The appellant employer contended that bonus is not part of wages. specifically provides that where the loss has occurred to the beneficial owner due Decision: Appeal allowed. contended that as dematerilialized form would normally take about 15 Rajasthan Chemists Assn. against the appellants alleging delay in State of West Bengal v. enactment of such provisions is Decision: Appeals dismissed constitutionally permissible.2007 is registered as agent with the Depository.Industrial dematerialization depositories function through its agents.Deficiency in service.Rajalakshmi (i) Contract of Apprenticeship in duplicate on a non-judicial stamp Rao (Member). an award reinstating 17 workmen with 50% of back wages. No increment was duties by the participant. 1947. before the taxable event. 1996. the training shall not be taken on record. for are brought to the state. 1996. such circulars.. In these set of circumstances. the NSLD. In this view of the matter.B.I. thereafter. the conversion tax. Bonus Participant acts only as an Agent of the Depository.

but by making personal representation. before the last date of submission of enrolment applications for a particular examination. request. 25th March and 25th September for June and (c) They are advised to apply for registration de novo/extension December examinations respectively and with a late fee of Rs. Change of address.towards postal 6. All the students appearing in the examination must hold Identity (g) The candidates who have passed either group of the Intermediate/ Card in the manner prescribed by the Institute. 2002 gree/examination (on the basis of which the paperwise exemp- stands terminated on expiry of five-year period on 30th which 15-20 days prior to the commencement of the examination. The e-mail address may be sent in the following format.e. PIN CODE number alongwith the student registration number. Compulsory Enrolment for Final Course (j) Paperwise exemption fee is payable only when the exemption is Students who have passed/completed both groups of Intermediate to be availed on the basis of qualification(s) specified for the examination are advised to seek compulsory enrolment for undergoing purpose. state in capital letters. 100/. appeal. (f) Exemption once cancelled on request in writing shall not be Students Identity Card granted again under any circumstances. filled up and attested as per instructions given in the prospectus/ registration letter. be enclosed with the enrolment application while claiming such If the Identity Card already issued has been lost or mutilated. For obtaining the Identity Card. exemption in the corresponding subject(s) of new syllabus students are advised to obtain a proforma from the Headquarters/ indicating the basis of exemption as “APO” in the appropriate Regional Offices of the Institute and send it again to the Institute duly column of the enrolment application. etc. of paper wise exemption without obtaining written confirmation Name : on time and absent themselves in any paper(s) of examination Registration No. check up the computerised mailing examination without receiving the written confirmation from the address as printed on the ‘Student Company Secretary’ bulletin. In case. coaching for the Final course on payment of Rs. (b) Response sheets will not be accepted even if submitted and (b) The application for claiming paperwise exemption must reach coaching completion certificates will not be issued (after the the Institute on or before the last date for submission of enrolment expiry of registration period) application i. A student can be exempted from undergoing the course on the Please note that a student is admitted to the final examination only basis of his existing qualification/degree in the computer field and after a minimum period of nine calendar months has elapsed since qualifies the need of ‘Course Contents Syllabus’ as scheduled by NIIT Student Company Secretary 16 June 2007 . wise exemption in every session of examination during the valid- continued from July. 2007 onwards. with the mutilated Identity Card/Identity Card proforma duly filled in (i) No exemption fee is payable for availing paperwise exemption on and attested together with Rs.per paper. if any. may claim the paperwise at the time of seeking registration. Clarification regarding Paperwise Exemption REGISTRATION AND POSTAL TUITION (a) The paperwise exemption is granted only on the basis of specific Cancellation of Registration request received in writing from a registered student along with the attested photocopies of marks sheets for all parts of the De- Registration of students registered upto and including July. it does not carry or carry the wrong PIN CODE number. the students are advised to invariably quote the examination. of registration as per the guidelines published in this bulletin. if not already obtained Final examination under the old syllabus. name (d) The paperwise exemption is cancelled only on receipt of a and full postal address with city. It is leading to the following immediate consequences : one time payment and not to be remitted for availing of paper (a) Supply of ‘Student Company Secretary’ bulletin will be dis. PIN CODE is required to be mentioned for quick delivery of the If any candidate appears in the exempted paper(s) of mail.4200/. could be incorporated in the computerised mailing list. the application can be accepted upto 9th April and 10th Change of Address October respectively.towards duplicate Identity Card the basis of “APO” or on the basis of securing 60% or more marks fee. 100/-. student exemption.. must see and ensure Those students who are having e-mail address may communicate that they receive written confirmation from the Institute at least the same to the Students Services Section at dss@icsi. Student Services his/her passing the Intermediate examination and subject to completion STUDENT SERVICES of coaching and fulfillment of other requirements. should be intimated to the Institute by (c) The paperwise exemption once granted holds good during the sending a separate letter in this regard. failing which the same may not be granted for the should send a request for obtaining duplicate Identity Card together ensuing examination. (e) It may be noted that candidates who apply for grant of paper wise exemption or seek cancellation of paper wise exemption already E-MAIL ADDRESS OF THE STUDENTS granted. 4. Institute. (h) In case the paperwise exemption has already been granted on the basis of qualification or the candidates is eligible for grant of Students who have so far not obtained Identity Cards are advised exemption on the basis of securing 60% or more marks. While intimating the change in validity of registration period or passing/completing the their mailing address. 5. Exemption from Computer Training tuition fee. ity of registration period. : and/or appear in the exempted paper(s) would do so at their own E-mail Address : risk and responsibility and the matter will be dealt with as per the above guidelines. a to write to the Institute immediately. his/her the same may be intimated immediately quoting student registration appearance in such paper(s) shall automatically be treated as number and full postal address with Postal Index Number so that it cancelled. 2007 tion is sought) and the exemption fee @ Rs. Students may. specific request in writing from the student concerned on or before the last date for submission of the enrolment application. The students should carry their photocopy of the letter/marks-sheet issued by the Institute should Identity Cards without fail for appearing in the Institute’s examination. 50/. therefore. in the Institute’s examination. will facilitate quick and economic communication from the Institute’s Candidates who would presume automatic grant or cancellation side. at the Examination Centre at the last moment. whichever is earlier.

scrutinize and forward the applications to Headquarters Student's Name. hall at the time of writing the examination. for Shri Sohan Lal. i. Important COACHING CENTRES FOR CONDUCTING ORAL COACHING While making any correspondence regarding examination. Qualification. Postal/Oral Coaching Status. Student Company Secretary 17 June 2007 . Query regarding issue of Admission dss@icsi. advised to maintain Completion Certificate/Suggested uniformity in their signatures on all the correspondence with Answers and Response Sheet status the Institute including students identity application and attendance sheet provided in the examination Certificate/Roll No. www. In case. enrolment 5. etc. a written request may be sent to Institute’s website www. in the wise Exemption (if any). students the Oral Coaching Classes for the students undergoing may contact personally or write to Sohan Lal. Lodi Road. Query regarding paperwise exemption ss_enrol@icsi.e. 1980.icsi. OR send an us by E-Mail as per the details given below: application directly to:- 1. (c) De-novo/Extension/Final Enrollment ss_post@icsi. unsigned or bear different signatures from time to time. the students are advised to quote the following particulars for taking prompt action : (i) Name in full (ii) Student Registration number (iii) Stage of CLASSES FOR CS STUDENTS ON examination (Intermediate/Final) (iv) Group opted (v) Centre opted (vi) Particulars of fee remitted. to empanel Private Coaching Centres for conducting post-registration.icsi. Institutional Area . For and Pin Code. This landmark decision will undoubtedly have a far In our endeavour to provide prompt and efficient services to the reaching impact on the entire Oral Coaching System student community. after preliminary assessment of infrastructure. Students. Government of India. The Regional F Click on the tab 'Go' Councils/ Chapters/ Satellite Chapters of the Institute scattered all over India have been authorized to The students may verify the particulars contained therein viz.S. date . Query regarding Coaching Registration Letter/ldentity Card/ Student Company Secretary Bulietin/ UNIFORMITY IN SIGNATURES CS Foundation Course Bulletin. Joint Director and for CS Course on behalf of the Institute. telephone number. the academic guidance and ‘ICSI House’ 22. 7. The information can be accessed as under: provides a golden opportunity to reputed Coaching Centres in the private sector to get associated with one F Visit the Home Page of the premier professional institutes in India constituted F Click on the tab 'Overall Status' under the under Company Secretaries All the students amount. comprehensive guidelines and come across any discrepancy and/or need any clarification/ modus operandi of the Scheme. 4. It has been observed that some of the enrollment applications/ letters received from the students are either 3. if any. At present. students may write to V K Aggarwal. Date of Birth. Father's New Delhi – 110 003 2. Joint Director (a) Intermediate Course ss_reg@icsi. the overall status of all the registered students under the Company Secretaryship Course and it of the Institute has been uploaded to the website of the Institute viz. Institute of Company Secretaries of India has decided In case of any specific problem/complaint regarding registration. please visit the additional information/service. Complete Postal Address with City. Student Services for C. Demand Draft (printed) number. etc. for Examinations. Institute is conducting the Oral Coaching Classes on its own through its Regional Councils/ Chapters/ Satellite Chapters. etc. mobile number or e- mail address. subject to the condition that he or she enrolls himself/ EMPANELMENT OF PRIVATE herself for an online exemption test (to be conducted by NIIT) from any of the NIIT Center on all India basis and successfully clears the test. Principal Director. F Press Tab Key The Institute invites applications from interested F Wait for the name to appear on the adjacent institutions for conducting Oral Coaching Classes for CS field Students under the aforesaid Scheme. functioning Group 'Students' under the administrative jurisdiction of Ministry of F Enter Full Registration Number Company Affairs. they format of application. at the Institute’s address. etc. Paper. Query regarding non-receipt of ss_misc@icsi. students services and postal/oral coaching. Query regarding Registration Status/ Issue of Study Material. name of the bank and its branch (vii) Date and BEHALF OF THE INSTITUTE mode of despatch of enrolment application and their complete In a path-breaking initiative. the Council of The address with PIN The Institute of Company Secretaries of India (b) Foundation Course ss_fond@icsi. State respective areas along with their recommendations.


Student Company Secretary 19 June 2007 .

07. . The list of NIIT Centres including detailed course contents. as published in the Gazette of India(Extra Ordinary) vide Notification No. module details and topic-wise time duration etc. Student Company Secretary 20 June 2007 .edu/icsi@eth. Khairatabad.per participant — The Schedule of ADPs proposed to be organized by the Regional Councils/Chapter is as under :- Organised by Date of the Venue of the Contact Address Programme Programme NIRC of 21.11. 011) ❏ E-mail : niro@icsi. Computer Training will be compulsory and pre-requisite for all the students intending to appear in the Intermediate Examination from December. No student will be allowed to appear at the Examination to be held from December. : 25763090/25767190/25816593 ❏ Fax The schedule of other ADPs proposed to be organised by NIRC. : 23325458 ❏ E-mail : hyderabad@icsi. 1982.07 (ii) 15. and .11. the following regulation shall be substituted. The Course is open to all the students and members of the SIRC of 18.07 ATTENTION ALL STUDENTS APPEARING IN THE CS INTERMEDIATE EXAMINATIONS FROM JUNE.2007 SIRO Premises Deputy Director. etc. Salient features of the course in brief : - Title of the Course “Understanding Information Technology in Corporate Environment”. 2007 SESSION ONWARDS COMPULSORY COMPUTER TRAINING SCHEME In the Company Secretaries Regulations.07 Hyderabad Chapter : (i) 11. The students who would be declared passed in June 2007 session of Intermediate examination but have not completed the compulsory computer training.10.07 SIRC : (i) 15. he/she has to deposit the requisite fees at the respective NIIT Centre and fulfill the formalities as per the requirements of the Computer Training Centre. all students are required to successfully undergo a Compulsory Computer Training Programme for becoming eligible for appearing in the CS Intermediate Examinations from June. : 23399541/ 23396494 ❏ Fax No. 250/.net. who has been sponsored for 15 months training either in a company or under a Company Secretary in Practice is compulsorily required to attend and complete 25 Hours Academic Development Programme (ADP).(b) has successfully completed computer training program as may be specified from time to time by the Council and in the manner so specified or exempted there Hyderabad 07. www.07. 2006. # 6-3-609/5. No.07 (iv) 17. The Institute..(a) is a registered student and produces a certificate from the head of the coaching administration ( by whichever name designated) to the effect that he has undergone satisfactorily a course of postal or oral tuition for the Intermediate examination.07 (v) 15. Chennai-600034 ❏ Tel. 9.vsnl. New Delhi-110005 ❏ Tel. 2007 examinations onwards. : 044-28268685 ❏ E-mail : icsisirc@md3.450 plus Service Tax. : 25722662 (STD Code No. The duration of each ADP would be eight hours and those who have attended three such programmes would be deemed to have attended 25 Hours ADP. for regulation 40. SIRC of the ICSI. : 044-28279898/28268685 /28222212 ❏ Fax No.e. are also required to successfully undergo the computer training for becoming eligible for appearing in the final stage of CS examination. 2007 session onwards unless he/ she successfully completes the Computer Training.2500 per participant for SC/ST Category Note : Service Tax as per the GOI rules applicable from time to time shall be paid in actual by the participant A student can be exempted from undergoing the course on the basis of his existing qualification/degree in the computer field subject to the conditions that he or she enrolls himself/herself for an online exemption test (to be conducted by NIIT) at any of the NIIT Centre on all India bases and successfully clears the A fee of Rs. To undergo this course.icsi. Nungambakkam.” In terms of the aforesaid amendment in the Company Secretaries under FAQ.3000 per participant for General Category & Rs. To take admission.2007 NIRO Premises Executive Officer.(c) applies with such examination fee as may be determined by the council from time to time so as to reach the Secretary.09. has tied up with M/s NIIT through which 70 hours of computer training shall be provided to the students/members of the Institute in all Centres of NIIT all over the country. ICSI/710/1(M)/1 dated 3rd May. ICSI-SIRC Building. The ICSI-Hyderabad Chapter. in accordance with the directions given by the Council.2007 Chapter Programme Coordinator. in compliance of the aforesaid amendments. Hyderabad-500004 ❏ Tel.08. 1982. Plot No. 2007 session onwards.12.08.08. SCHEDULE OF ACADEMIC DEVELOPMENT PROGRAMMES (ADP) Every student of the Institute. ICSI-NIRC Bldg. have been published on the website of the ICSI i.07 (iii) 13. Prasad the ICSI Nagar Institutional Area. Fee Rs. per student is payable for online test which is applicable for a maximum of TWO attempts within a period of one month. a student/member has to approach any NIIT Centre on all India basis. NIRC of the ICSI. Wheat Crofts the ICSI Road. Duration of the Course 70 Hours Fee Rs. Chapter Premises Anand Nagar Colony. SIRC & Hyderabad Chapter during 2007 is as under : NIRC : (i) 18. “40 Admission to the Intermediate Examinations —- No candidate shall be admitted to the Intermediate examination unless he/she :- . 4.

) WR0425238/02/2006 13. Sushant Subhash Gavade WR0472539/02/2007 15. the results will be displayed simultaneously on the Notice Boards Foundation and Intermediate Examinations of `company at the Institute’s Headquarters. New Delhi .icsi. PRATIK DROLIA ER0230436/02/2006 Dated the 11th June. December. Karishma Mehrotra (Ms. MADHUSUDAN MUNDHRA ER0250797/02/2007 7. RAHUL AGARWAL ER0230765/02/2006 for Intermediate . Name of the Student Registration.) aforesaid study material have been revised keeping in view the changes necessitated by virtue of introduction of the BY ORDER OF THE COUNCIL concept of MCA-21 and e-forms.) ER0233250/02/2006 FOR FINAL COURSE 3. No.) SR0385086/04/2007 1. forms.00 P. RAJ KARNANI ER0250607/02/2007 8.110 003. Runjhun Jain (Ms.) ER0230643/02/2006 12. SAMVIT DURGA SR0379301/02/2007 Sl. FOR INTERMEDIATE COURSE NOTIFICATION ICSI No. onwards for information of all concerned.) ER0230871/02/2006 File No. DECLARATION OF JUNE.) WR0476026/04/2007 2. ABHISHEK MUKHERJEE ER0253703/03/2007 In accordance with the “Merit-cum-Means Assistance (Company 2. 1983”.) NR0528221/03/2007 results of Foundation and Intermediate Examinations. as in force. 7.00 P.) WR0472215/02/2007 4. No. SHAILY GUPTA (MS. PANKAJ AGARWAL ER0230441/02/2006 REVISED STUDY MATERIAL Students may note that 2007 series of Company Secretarial Practice 14. HARSHA AGARWAL (MS. 2007.) NR0520951/02/2007 14. Swati Arora (Ms. 2007 11. Student Services EXAMINATION NOTIFICATION ICSI NO.) SR0381482/02/2007 1. and Examination Centres.) ER0250821/02/2007 FOR INTERMEDIATE COURSE 9 ARUNA N R (MS. the following students have examinations of the company secretaries held in June. 2006 and fulfilling the eligibility criteria : 5.) ER0230845/02/2006 14. MINAL ROSELLA SEQUEIRA (MS. Neha Pankaj Agrawal (Ms. RAHUL R RANKA SR0380193/02/2007 6. Offices of the Regional Councils and secretaryship’ held in December. DIPAK DAGA ER0229781/02/2006 10. PALAK VIJAY SHAH (MS. Mohammad Anas Asif NR0522257/02/2007 2. Name of the Student Student Regn.) WR0469889/02/2007 Secretaryship Course) Scheme.) NR0526844/03/2007 12. 2007 are been awarded `Merit Scholarships’ for the Intermediate and Final scheduled to be declared at 4. checklist etc. MOHIT KEJRIWAL ER0230770/02/2006 15. 2007 from 4.M. Intermediate and Final Secretaryship Course) Scheme 1983”.) WR0472278/02/2007 3. UTSAV K PRAKASH SR0342175/11/2005 11. R Swetha (Ms. 2007 EXAMINATION RESULTS In pursuance of para 11 of the “Merit Scholarship (Company The results of the Foundation Course. PRERNA AGARWAL (MS.205:Exams:D/2006 SECRETARY & CEO amendments/changes. TARUN MALIWAL NR0441570/02/2005 New Delhi 110 003 SECRETARY & CEO 10. Junaid Imtiyaz Bhat NR0529921/04/2007 10. Sandeep Kumar Karn ER0252376/02/2007 FOR FINAL COURSE 9. SWETA BAJAJ (MS.Group II (Revised upto March 2007) is available. Dated the 11th June. Rajiv Kumar Bansal NR0477910/02/2006 CHOPRA (MS. AMRITA JAIN (MS. 4 OF JUNE . 2007 1.) ER0233372/02/2006 ATTENTION STUDENTS 13. on 25th August. AASHTA CHOUDHARY (MS. No. ABHAY RUIA ER0250983/02/2007 5. covered in the (MS.2007 1. 2007 Student Company Secretary 21 June 2007 . Aakanksha Bhatnagar (Ms. SAKSHI WASSON (MS.) NR0477301/02/2006 4.M. Jatin NR0455725/08/2005 6. Students are advised to read ( N K JAIN ) the latest study material and keep themselves updated with latest File No. 2006: Chapters. Rambabu Pathak ER0229955/02/2006 5. MITALI RAKESH BHANSALI ER0221924/08/2005 The procedures. on Institute’s Website www. ANKIT MATHRAN ER0231316/02/2006 12. ARHAM BENGANI ER0251762/02/2007 8. ANANTA SANGEET KUMAR (MS.207:Exams:D2006 ( N K JAIN ) 9. As in the Courses on the basis of their meritorious performance in the past. The results will also be available Sl. 15. Information in this regard is also appearing on the website of the Institute. CHIRAG DILIP MEHTA ER0249891/02/2007 Assistance” for Intermediate and Final Courses on the basis of 4.) NR0526851/03/2007 13.3 of June. No. Sumeet Rameshwar Sabu WR0429240/02/2006 7. Asim Ahmed Rizvi NR0522262/02/2007 11. POONAM PREMCHAND WR0399836/06/2005 16. ABHISHEK KAILASH RATHI ER0252482/02/2007 6.) BY ORDER OF THE COUNCIL 8. the following students have been selected for award of “Merit-cum-Means on 25th August. Sarika Jain (Ms.

Chief Guest G. ETV(M. Amita Ahuja. Kolkata in his address said that new scenario gives the ICSI and Managing Director. East India Pharmaceuticals Works stress on self regulation which needs scrutiny at some stage. Chatterjee. had reached their first milestone by crossing the big hurdle of passing Subrata Kr.P). some sharpening of skills is also have undergone training to be able to learn the practical ways of his necessary.2007 the Training and Educational Facilities Committee was inaugurated.00 A. The programmes were Subrata Kr. Kolkata. Hariram Garg. Shah in his address said that pleasing personality and right professional Eighteenth Training Orientation Programme attitude is the need of the hour for promoting career with Corporate Inaugural Session: The inaugural session of the 18th Training Houses.5. Roy. ETV(Oriya) & ETV (Urdu) at 10. fruitful. He added that the TOP will motivate the students to utilize the and the students should be modest enough to seek knowledge. He Ltd. EASTERN INDIA REGIONAL COUNCIL Garg in his address stated that new scenario gives stress on self- regulation. Roy. Director the stage of studies. A detailed write up containing the above B. He also offered his best wishes to the students present on the occasion. and Chief Guest of the session. in his address said that pleasing personality and right professional advised the students to keep themselves updated on day to day basis. TEFC of EIRC conducted the proceedings members shared their valuable views and experience in the meeting. He also ICSI with the Students offered his best wishes to all the students on the occasion. necessary. West Bengal. growth of the profession and also about the various services being Anil Murarka.4. He advised the Meeting of the President and the Vice-President of the students to keep themselves updated on day to day basis. Chairman. taken by the Institute. Student Company Secretary 22 June 2007 . right attitude towards working in the industrial house. ETV (Marathi) at 9. for promoting career with Corporate Houses.2007. Earlier Anjan Kr. Programme on Career as a Company Secretary on Mukesh Chaturvedi. On 14.5. the ICSI in his address highlighted information was also provided to the faculty. ETV(U. ETV(Bihar).2007 at the valedictory session Anjan Kr. Ray. Bakshi.2007 during said that mere study is not enough some sharpening of skills is also the Career show “Yuva Bharat” telecast across India viz.B.4. and was hopeful that inputs provided in such training Orientation Programme conducted by the Regional Council was held programme will go a long way in giving a meaningful shape to the on 22. News and Announcements and he was hopeful that inputs provided in such orientation programme NEWS AND ANNOUNCEMENTS will go a long way in giving a meaningful shape to the career of the students of the ICSI. He spoke on development and growth of the It was decided to encourage the students with information in respect profession and also about various services being offered by the of development taking place in the CS profession and the efforts being Institute. He stressed on Corporate Houses. He wished them all the best for The programme was inaugurated by Ujjwal Roy. the ICSI (each of six minutes duration) on “Career as a Company Secretary" were Valedictory Session: At the valedictory session Anjan Kumar Roy. Ray. devotion. ETV(Rajasthan). attitude is the need of hour. Vice President of the ICSI with the students of the Institute acclaimed by all the dignitaries present. Sixty-two candidates enrolled for the said programme. (TEFC) of EIRC of the Institute organised a meeting with the faculty of Oral Tuition conducted by the EIRC at its premises. while speaking on the occasion advised the telecast on ETV (Telugu). ETV (Bangla). Two interviews of Preeti Malhotra.2007 the 49th SMTP conducted by the Regional Council On 5. Council Member.30 A. Such Training programme helps the students in this regard trade. while on ETV (Kannada) at 8. He wished them all the best for their forthcoming INSTITUTE NEWS studies and examinations. Managing Director & CEO. hard in associating themselves with the e-learning project and gave their work will definitely bring good results. students to inculcate professional attitude right from the beginning.4. The meeting was interactive and proved to be Director. President and Keyoor The participants performed cultural programme which was M.5. (Public Relations & Corporate Communication) of the Institute.K. Secretary.2007 and 1. the ICSI said that the participants offered by the Institute. Registrar of their forthcoming studies and examinations.30 A. Companies.2007 a meeting of Preeti Malhotra. training to the fullest. Managing Director. views and suggestions in respect of the syllabus of the company The programme was inaugurated by Kishore Shah. EIRC advised the students to inculcate TEFC of EIRC delivered the welcome address and conducted the professional attitude right from the beginning. Former Central Council Member Services Ltd. of the inaugural function. Ray. Assian Tea & Exports Ltd. He also wished them all the best for their forthcoming studies and examinations. Transafe Guest of Honour. Forty-ninth Secretarial Modular Training Programme Meeting of OTS Faculty with the Chairman TEFC On 23. He also requested to make them available as a speaker in for the students in grooming their right attitude towards working in the the Career Awareness Programme. which needs scrutiny at some stage. Amit Kumar Sen. was the Chief Guest on the occasion who delivered the valedictory address and distributed the TOP Completion Certificates to all eligible students. Such Orientation Programmes help the students in this ETV(Gujarati). regard. career of the students of the ICSI. Forty-eight participants enrolled for the programme. Chairman Subrata Kr. President.P). Mukherjea. an advocate must said that mere study is not enough. Chairman EIRC highlighted the role played by the CS Final examination and now they all have a good future and will professionals in supporting the stupendous growth achieved by the have to deliver the goods to reach other milestones. Smifs Capital Services Ltd. In his address he said that practice makes On 8. Council Member. He was of the opinion that SMTP will be of immense use speak at. He exhorted the students to develop professional orientation right from The programmes were coordinated by Dr. He spoke on development and to develop professional orientation right from the stage of studies.M. He also mentioned that sincerity.M. Chairman. Anjan Kumar Roy. He was of the opinion that such orientation the importance of SMTP to get practical exposure to interact with their programmes will be of immense use for the students in grooming their peers and faculties and get their doubts cleared.5. Every professional be it a doctor. was organized at ICSI-EIRC Auditorium. The faculty members took interest industrial houses. Managing secretaryship course. The faculty Anjan Kr. telecast on Eenadu TV(ETV) on 28. Roy in his address a man perfect. on both the above dates. the role being played by the professionals and the need for a greater Chairman TEFC of EIRC requested the faculty members to spread awareness campaign about the Corporate Culture and Corporate the information about CS course in any forum or gathering they may Legislations. EIRC while concluding shared some ETV practical tips with students for grooming their personality in a more acceptable way to Corporate Houses.M. He exhorted the students proceedings of the inaugural function.

who in their opinion was fit to be awarded as Best Participant. Vice Chairman. New Delhi. The participants formed among themselves an the other one at Jain classes. Students were apprised of the participants organized a Get together cum Picnic at IBIZA Resort cum company secretaryship course and its prospects. how of the TOP and advised the students to be humble enough to accept to keep the motivation level high etc. Gangopadhyay. EIRC. Jain classes expressed their willingness to start on 6. congratulated the participants for passing a final touch in the making of a professional is the training. The planning and implementation part of the programme Jamshedpur one at Ashish Mittal’s Prime Chartered Academy. The Best participant was duly recognized by From 28. He also shared his experience during his training days utilize the TOP platform to equip themselves for their forthcoming at various companies. which resulted Jamshedpur. The programme is supposed newspaper advertisements were also displayed at the stall. Brochures on CS course were themselves abreast with latest amendments to be able to meet distributed among the students and parents who visited the stall. Among other programmes one Career Awareness Programme was conducted Social Programme: On 1.2007 to 3. etc. games viz. stated that the CS curriculum is able to build a solid backbone of knowledge in the students. how to face the problems in a positive way. The Sixteenth Training Orientation Programme students were provided with leaflets giving detailed information about Inaugural Session: The inaugural session of the 16th Training the CS course. EIRC and Santanu Mukherjee. shareholders. He advised the students to conducted by the Regional Council was inaugurated at NIRC-ICSI take note of what will be taught and interact with the faculties to clear Prasad Nagar.. the two reputed coaching centres of organizing committee with proper delegation of the job. Ray. Pareek.M. positive attitude and how to carry oneself. Twenty-sixth Training Orientation Programme Ashok Kr. their doubts during the programme. Secretary NIRC. Past President.5. Roy. There were lots of amusement of students. Musical Chair. Utpal students. Srivastava. Executive Officer. EIRC spoke about the concept the knowledge base. Choraria. He shared his experiences when he professional attitude is the need of hour. NIRO in his address said that for imparting Management Training after TOP in his organization. Mukesh Chaturvedi.2007 at the valedictory session of Earlier. Club.M..2007 during the programme the at a Private Study Centre in Ranchi. and was very good.2007 Anjan Kr. the ICSI. He gave various tips regarding how to improve training days. Natarajan. Koley. professional challenges. EIRC emphasized the need for On 23. Executive Officer. rewarded. Guest to the eligible students. TEFC of EIRC in his welcome address From 26. By Career Awareness Programmes giving due weightage to the above. fellow feeling amongst the Two more Career Awareness Programmes were held in participants. The queries raised by the students were replied suitably Orientation Programme conducted by the Regional Council was held by the speakers. Practice their examination and for being eligible for the TOP. The programme was found very effective and meaningful in developing friendship. In all 56 participants enrolled for the said BHUBANESWAR CHAPTER programme. Diamond Harbour Road. Executive Officer. Bhubaneswar. also felt that students should be careful in writing correct English. the ICSI in his address requested attitudinal grooming and personality development of the participants all participants to grasp the contents of the sessions to the maximum before sending them to the companies for training. some sharpening of skills is also necessary.2007. Chairman.4. Gangopadhyay. Badminton.2007. Career Fair . He narrated some experience of his early days in the profession to boost the moral of the participants. Ranchi Chapter and the participants actively took part and enjoyed. the Chapter participated in the ‘Capital stated that the company secretaries get the unique opportunity to Education Fair-2007’ at the exhibition ground. He also offered them his best wishes for their future training. where Secretary. He advised the participants to Student Company Secretary 23 June 2007 . Chairman EIRC advised the students to keep explained about the CS course. Past Chairman. Treasurer. EIRC of the ICSI gave presentation explaining about the company secretaryship course. before start of adjustment.2. Treasurer. Ranchi Chapter. S. students should be given some basic training about the career. He mentioned that extent possible because this will help them to their attitudinal the programme is designed for a specific purpose i. Secretary.2007 the Regional Council organised a the Council and those who stood second and third position were also visit of Mukesh Chaturvedi. Mamta Binani.5. the five days Training Orientation Programme is focused on the B. The stall interact with the Board of Directors of a company. said that before a student commences training he should be able to flexi banners highlighting the career prospects and employment appreciate the corporate culture and need an attitudinal transformation opportunities of CS course.e. Institute’s Corporate Film was screened before full house in a very effective social programme. EIRO coordinated the event. the participants at the beginning organized a cultural show the SMTP Subrata Kr. the fair students and their parents visited the ICSI stall and were Subrata Kr. Pramod Kumar. Ray NORTHERN INDIA REGIONAL COUNCIL advised the students to be humble enough to accept their ignorance and learn while undergoing training. Valedictory Session: On 20. coaching classes for CS at Jamshedpur.2007 the 26th Training Orientation Programme (TOP) training for building a sound professional.B. He briefed them makes a man perfect. Gupta. He present. The programme was inaugurated by S. the name of “Best Participant of 49th SMTP’ was decided.5. pamphlets. Cut-outs of press releases and other from being a student to a professional. During to groom them accordingly. Table Tennis.2007 to 30. Ray while delivering his address said that mere where they performed songs. He also assured the participants A. what is required to give S. The day to day basis and also offered his best wishes to all the students participants present were asked to cast vote in favour of the candidate on the occasion. enjoyed by the dignitaries study is not enough. by a panel of judges when participants were asked to speak on any H. Cricket etc.5.K.4. the ICSI was the Chief Guest who topic selected by them by picking up slips. The judges comprised of distributed the Training Completion Certificates to all the eligible Anjan Kumar Roy and S. He advised the students to keep themselves updated on Mukherjee. He said that pleasing personality and right about the training requirements. Secretary-EIRC. Chatterjee. Council Member. News and Announcements Training Completion Certificates were also distributed by the Chief their ignorance and learn while undergoing training. past President. Administrative Officer.2. He urged the participants to was a student. Santanu Mukherjee. EIRO to Ranchi and Jamshedpur Chapter. working culture in the organization. He provided to the Chapter was well decorated with leaflets. light jokes. Best Participant Award: On the concluding day of the Training Such Orientation Programmes help the students in this regard and Programme one “Impact Session’ was organised during which the the student should be modest enough to seek knowledge and there is subjective knowledge/communication skill of participants was assessed no short cut to hard work.

in this competitive environment one has to update himself. Membership & Legal of the Abhishek Mittal and Mamta Chawla were adjudged as the best ICSI briefed the Chief Guest about the C. NIRC briefed the chief guest about On 27. rapport with them.2007 at the valedictory session of the 105 th SMTP suggested the participants to interact with the faculties and to develop conducted by the Regional Council and held at NIRC-ICSI. He apprised the participants about the On 3. He said the 15 days program. He also their experience during the 15 days program. Director. development of soft skills as they are as important as the technical Earlier Ashu Gupta. which dailies. SMTP Committee in her welcome skills. Manu Jain and Rajesh Sharma were adjudged as the these type of programs. While explaining the purpose of SMTP he said that certificates and medals were also distributed by the Chief Guest.4. amendments are taking place now and that they are in the compliance regime. He said that government is the participants for their upcoming career. asked the participants about their experience during programs are very important to develop one’s personality.4. only interpersonal skills in the organization pays a lot. At the end. Patnaik. He said that failures are the stepping-stones for success. Valedictory Session of 105th SMTP S. Training. the emphasis Satwinder Singh. to newer heights and now it is their duty to keep the flag of the Institute reason for difference and then adequate steps are to be taken to sort high as now onwards they will be the torch bearers of the profession. Vice Chairman. Ministry of Company Affairs mentioned that it and also distributed SMTP Completion Certificates and Medals to the is a solemn occasion and that the batch concept is possible only during participants.B. Director. confidence. suggestions from the participants on the same. She pointed out that a number of new areas like LLP. project-preparation etc. out the difference. therefore. the where Company Secretaries can have specialization. S..S. At the end SMTP completion requirements etc. training participants of the 106th SMTP. He stressed other professionals soft skills are required. 1956.4. He stressed on participants. asked the participants about create batch hood concept amongst the participants. Indian Airlines Ltd. He explained the contents of the program She appealed to the participants to become the corporate member of which includes among others personality development topics and which the NIRC. NIRC in his welcome address during this program is on the different communication skills group explained the concept and reason of introduction of SMTP. Srivastava said that these types of Ashu Gupta. Chairman. He explained that the mentioned that the institute is holding residential SMTPs at CCRT. Chairman. New Delhi. Senior Director. He also shared his practical “Excellence is a journey towards perfection which never ends”. Grover. Training. He invited suggestions that right attitude and competent professional skills are the key to from the participants to improve the SMTP further. National Seeds Corporation Ltd. He offered his best wishes to the participants. Council Member. He informed the Chief Guest about the CS course Chief Guest B. Management Training and about the company secretaryship Programme S. News and Announcements identify the objective and make efforts in the right direction. He discussion. journals etc. Regular updation is the need of the hour. Srivastava. positive thinking.3. She then towards compliance management where noncompliance will be difficult.2007 the Career Awareness Programme was held at Laxmi Student Company Secretary 24 June 2007 . He emphasized on soft skill requirements and updation on a regular Satwinder Singh briefed the Chief Guest about the SMTP Program.S. Membership & Legal of the ICSI On 28. is a welcome step. one has to keep pace with process.2007 the 106th SMTP conducted by NIRC at ICSI-NIRC syllabus review process going on in the Institute and called for Building was inaugurated by the Chief Guest Anup K.3. She mentioned that learning is a continuous that as the things are changing very fast. in and the requirements under the Companies Act. course. She offered her best wishes to compliance environment in the company. CMD. the changes taking place. He suggested the with the participants. He appealed to the Nesar Ahmad. He shared his experience when he was undergoing burden but a benevolence. He also touched his address thanked NIRC for giving him the opportunity to interact upon the training requirements of the CS course. He On 20. He discussed briefly the objective of the Ministry and the address said that it is a matter of pride that all the participants would amendments those are in process. he offered his best wishes to the never ends. but also to create a batch concept. On 28. SMTP Committee explained that SMTP Programmes as per the details given hereunder: is an excellent program and during this 15 days program.2007 at the valedictory session of the SMTP Chief Guest offered his best wishes to the participants for their upcoming career Manoj K Arora. He gave assurance to the Law Audit mandatory. emphasized that now it is the responsibility of all of them together to He encouraged the participants to go with the idea of creating positive take the profession to newer heights. He pointed out that this is one of the fields participants that on the basis of their suggestions and feedback.2007 at the valedictory session of the Training Orientation SMTP. She reminded that seniors have taken the profession practical applicability. He asked the participants to excel in their respective fields. He said that they are moving become the members of the ICSI within few days. He experience with the participants and also distributed training completion stressed that excellence in the respective fields is the need of the certificates to them. He stressed that success.Koley while congratulating the participants for their course. The Regional Council organized a number of Career Awareness Ashu Gupta. He said that in this competitive environment the continuous Hundred and Sixth SMTP updation is the need of hour. Anup K. He mentioned that since CS is a distant learning program. the positive attitude. Sr. the grooming participants in this area also will go in a long way to develop Career Awareness Programmes their prosperous career. Chairperson. which never ends. At the end he offered Director(Personnel). He quoted that program can further be improved. The correct approach is to identify the difference. IPR. professional ethics etc. Kumar. Since working in an organization is teamwork and Service tax. He shared his practical experience with the participants to read the modules given to them and also the economic participants and mentioned that learning is a continuous process. Satwinder Singh. He mentioned that it is a transitory phase and lots of participants. He mentioned that ICSI is making emphasized on soft skills and mentioned that in order to compete with lots of efforts to give value addition to personality of CS. excellence is a journey towards perfection. bondage and interaction with the experienced faculties mentioned that there is a difference between the academics and its can be gained. it is to create confidence. Chairperson. relevance of the program is not only interaction with the senior faculties ICSI and the Institute is planning the same for Regional Councils also. He extended his best wishes to the his SMTP. basis. NIRC. Kumar. Satwinder Singh his best wishes to the participants. develop contacts with senior faculties and to Hitender Mehta. hour. competition law are available for company secretaries. looking for high degree of ethics from the professionals. H. the ICSI said that it is the last leg participants to contribute to the benevolent fund and not to treat it as of training program. followed by others. The objective of these programs is the best participants. He informed him that at NIRC level Labour Law Committee successful completion of Training Orientation Programmme also took has been constituted to propose to the government to have Labour feedback and suggestions from them. He self-reliance.

The programme was inaugurated by Shravan the Career Awareness Programmes were held in Gurgaon at Chiranjiv Kumar Vishnoi.2007 an hour long live-phone in programme on “Career From 7.2007 at Delhi Public School.2007 the Career Fair was held at DL DAV participants by Vineet Tripathi. Ranjeet Pandey. oral coaching classes and various Girish Goyal in his address congratulated the successful participants facilities including library.4.4. reading room and placement assistance CHANDIGARH CHAPTER being offered by the Institute.4. They clarified the queries 11. Oral Coaching Classes for December 2007 Live-phone-in Programme Examinations On 14. Lord Jesus Public School and were adjudged 1st among the participants. “Sure Success” for the 10 and 10+2 students at various places like KANPUR CHAPTER Madurai.K.2007 the SIRC of the ICSI participated in Chapter activities held during the past couple of months and the Vazhikatti 2007 an education and career guidance expo organized by programmes to be organized in the coming months.4.00 Noon and 1. oral coaching classes and Secretaryship Course were distributed to the students. posters and other publications were professional.4.Write up on CS Course the present dynamic environment. Information about the company secretaryship observe code of conduct based on ethics and values.3. Chairman. Kanchipuram. Rotary Public School. and the visitors were counseled regarding stages of course. Corporate Trainer and K. Vishal Arora. ICSI-SIRO. Koley. Regional SOUTHERN INDIA REGIONAL COUNCIL Council Member.4. On 4.K. with certificates.2007 at Bhatnagar International School.4. officials of the Don Bosco School. that out of 46 participants 37 were girls. The classes will be held subject to enrolment of Director. on 9.2007 the Chapter proposes to conduct Intermediate as Company Secretary” was telecast between 12. syllabus. examinations. subjects. Sharma. Kushwaha. posters and other publications were displayed schools/institutions. Administrative Officer. Public School. Raman Munjal On 24.2007 the valedictory session of the TOP was held at the Vidya Mandir School. Sharma presented mementoes to all the participants along a leading Tamil daily in the State of Tamilnadu organized a programme. Ajanta Public School. on 28. On the occasion students were advised to learn from the practical New Delhi.4.00 and Final Course Oral Coaching Classes for December 2007 P. New Delhi. and Coimbatore in Tamilnadu. Nesar Ahmad. examinations of the Institute. training and various facilities being offered by the Institute JAIPUR CHAPTER and the Regional Office. ACS. There were 16 students New Delhi. Girish Goyal “Vetri Nitchayam” (Sure Success) in April 2007 issue. Chapter Secretary along with Manish Kumar Pandey. structure of the course were provided with necessary information about the company and also the avenues available to the profession both in employment secretaryship course and were also apprised about stages of course. family etc. Group discussion Public School. Narula. Chandigarh. The article was quite informative and useful to the students On 20. Dadri.5. B. pamphlets. A. Deputy or Final.30 P. FCS.K. / Final stage of Company Secretaryship Course. The impact of the programme was enormous Training Orientation Programme since not only during the entire course of the programme the calls were received but even after its conclusion. He expressed his pleasure the ICSI stall. The classes will be held between 5. In the above Institutions.K. course On 28. & 7.4.5. From 11.2007 at Army Public School. the students were apprised about the A number of prospective students and public visited the ICSI stall who mode of registration in the CS course. S. On 24.7. Daily Thanthi.2007 the SIRC of the ICSI participated in Education Officer. for dissemination of information about the CS course among the visitors. fee. The SIRC of the ICSI had put up an exclusive stall where also the faculties for the training programme. subjects. the ICSI. training requirements. coaching.00 A. Chapter Career Fair . NIRO. S. NIRC explained the opportunities available to the company secretaries in Career Awareness Programme . Sector 32-C.M.2007 to 13. NIRC. reading room and placement assistance being for completion of their 5 days TOP and wished them bright future provided by the Institute.M. curriculum. Chennai participated in the programme and sufficient number of students. Chennai. News and Announcements Bai College. NIRC. and in practice. Fee: Rs. Trichy. Suneel Keswani. Student Company Secretary 25 June 2007 . New Delhi. Bharati School. ACS. Srivastava. on 19.2007 the Career Fair was held at and presentation competition was held during the 5 days TOP and DAV School. Secretary. pamphlets. Secondary School. Chapter Chairman. CCA School. Council Member. in Jaya TV a popular television Channel in Tamil Nadu.4. member.2007 the 8th Training Orientation Programme(TOP) was and in response to the above article a number of queries were received organized by the Chapter for the students who completed their Intermediate from the public.4. In his address Girish Goyal informed about the series of From 20. On 17. UP. Brochures and pamphlets explaining the company secretaryship course were issued to the visitors. NIRO. various facilities including library.2007 the 5 days Training Orientation Programme conducted by the Chapter was inaugurated by Girish Goyal.M. Education and Job Exhibition at Arignar Anna Arangam. training requirements.on all working days.2007 to 22. He also highlighted Dinamalar a leading Tamil daily at Wesley School. ICSI-SIRC and Sarah Arokiaswamy. J. He stressed for Institute’s brochures.M.4. Delhi. Shailesh Career Exhibition Jain. Royapettah.K.00 P.4. New Delhi. Rao Lal Singh Sr.2007 at Ajai Kumar Sharma. A number of students and parents visited towards placement. The booklet was circulated among the students and participants in the above Eighth Training Orientation Programme (TOP) programme.2007 again in Gurgaon at Rao Ram Jeevan DAV experience of the reputed company secretary. Chapter.4. course fee. on 30. For details contact the Chapter replied a number of telephonic queries raised from various parts of Office at GGDSD College. the importance of TOP and shared the subjects to be covered and Chennai.3. Brochures and pamphlets were issued to the visitors. on 21. Hitender Mehta. On 24.Forty six course was widely disseminated by explaining in a detailed manner candidates participated in the programme. regarding admission procedure. Neetu Goel. social and family values and advised the participants to displayed for the visitors.per Group of Intermediate Diraviam. TOP Certificates were distributed amongst the School New Delhi. NIRC addressed the students numbering An exclusive stall was put up by SIRC of the ICSI where Institute’s around 2000 taken together in the programmes held in all the aforesaid Brochures. society.5. between Tamil Nadu including calls from abroad. and B.2007 a Career Fair was held at Ramjas Chapter premises.Vazhikatti 2007 Chairman. on 26. Alka Arora. Executive Officer.2007 enrolled for the programme. Career Awareness Programmes were held in Arvind Singh for group discussion and Simpy Bhatia for presentation Gurgaon at Ryan International School.2007 the valedictory session of the TOP was organised. Bareja FCS.30 and 7. Somya Agarwal and K. An elaborate write up about company secretaryship course was The coordinator of the programme Yogesh Sachdeva and Shayam released by SIRO of the ICSI in Daily Thanthi in its supplement issue Agarwal declared the winner for best participant award.L. ACS.000/. Pamphlets explaining Career in Company course fee.

special and prescribed by the Institute which were as under: refresher classes. at its premises. The Day long programme titled “Umang” saw active Educational Fair . The judgments and the practical aspects of the law were discussed and participants then were awarded the course completion certificates. dealt Student Company Secretary 26 June 2007 . finance sense. Chairman. company visits. S. Chairman Oral Coaching & Students Facilities participants explained the importance of the Guru Shishya Parampara.S. Kutumbale.2007 participation by the students of the Mysore and Bangalore Chapters and had an exciting itinerary of quiz on Company Law. Sagar Associates complete facilities of dais. etc for the benefit of the students for which parents should The topics Future Prospects and Office Culture were dealt with by encourage their children to attend such programmes. HYDERABAD CHAPTER Tenth Academic Development Programme WESTERN INDIA REGIONAL COUNCIL On 13. OHP. to have fire in the belly attitude.During the 5 days of the programme at the earliest possible. Anand was an active student of the The day concluded with a cultural extravaganza presented by the Chapter and Members honoured him by presenting mementoes and Spectrum Team. tribunals like Debt Recovery Tribunals (DRTs).a leading Tamil Daily.K. clarified/replied the doubts and queries raised Curriculum Vitae & Interview Techniques. hailing from Coimbatore Chapter the First Rank Holder in Final was also honoured on taking over as the Chairman of the CII-Mysore. NCLT etc. Apte. the Chapter was the Programme Co-ordinater. students and in one’s stride. Dr. Chapter Chairman the Chapter activities and role and functions of Company Secretary. former Chairman of the Chapter explained about employment Trainer of Study Center at Indore dealt with Self Assessment.2007 the Chapter participated in the market. taking failure for the profession of company Secretaries to parents. M. From 24.The sessions were arranged at the Chapter office with speaker to the students. Successful students of the were distributed at the Fair. 2002. LCD Projector. sponsored by the Mysore Chapter and Adarsha Charitable Trust.S. The Chairman.2007 the Chapter organized a function in honour of R.5. Member of welcomed the parents/spouses of the students and apprised them about the ICSI was the Chief Guest. He further informed that Committee conducts various faculties from different fields delivered the lectures on the topics various student related programmes like quiz programme. the general public. Board for Industrial Shah. informative and interesting. Chapter Chairman. Teaching Faculty at PT and PCS Member discussed Personality Development – Dress Code & How to Carry Oneself and MYSORE CHAPTER also File Management. smartness and a cross- faculties who visited the stall.4.5. The programme was well received by the students and INDORE CHAPTER there was a lively interactive session.Rama M.2007 to 13. the students’ gathering of the Mysore Chapter of the wished him good luck in his professional career. Manju Mundra.Visweswara Rao. powers and rights to investigate and enquire etc. Function in Honour of First Rank Holder of the December The winners of the Essay Competition on How to Overcome the 2006 Examination Menace of Terrorism which was organized by the Mysore Chapter for On 25.4. Marthi. R. Chairman meet and advised the parents to provide moral support of Programme Development Committee & Bhupendra Maheshwari. Chaya Gupta. Students Committee. Administrative Officer of and Financial Reconstruction(BIFR). Information brochures explaining cultural exposure. Management game and session on Creative Skills by R. The programme was extremely Enterprise) was the Chief Guest at the valedictory session. Sai Educational Fair organised by DINAMALAR .4. Teacher.4.Marthi. explained. Thirty-one participants completed the explained the importance of the CLB. and encouragement to their children to become a Company Secretary Chairman.K. inaugurated the programme. Members explained about the Course and the career prospects a team player. Participants were urged Securities Appellate Tribunal(SAT). P. College.K. given by them. ICSI. the emergence and the dominance of the Tribunals.2007 to 28. The case laws.Ravi Prasad. An audio-visual Pradeep Mehta. He with M. Dewas dealt with Writing of Secretaries. Practising by the parents and further agreed to implement certain suggestions Company Secretary discussed Usefulness of Reading Newspaper.2007 the Chapter successfully organised On 20. Foundation and Intermediate levels from his 25 years of industry experience. Professor.Advocates & Solicitors dwelt upon various areas including types of system. debate. Arvind Jain. Prakash of Chennai. Amiya opportunities & scope of practice in the profession of Company Pahare. S.. being stall. Atul Goyal. Priyamvad Bhatt. December 2006 session. Chapter Secretary welcomed the students and Orientation programme (TOP). Apte. Committee of the Chapter explained the purpose of organizing a parents’ The programme was co-ordinated by Ashish Karodia. On 11. Partner. the SARFAESI Act. Chapter Chairman students participated in the programme. Teaching Faculty. Kailash Sharma. He said that these were pointers that he had gathered information about the CS Course.2007 the Chapter conducted its 4th Training A. Pradeep Mehta.4. Founder Director & Krishnan. professional grooming. Laptop and Audio . mock stock From 11. News and Announcements COIMBATORE CHAPTER Mysore. There was educative. ICSI examinations held in June & December 2006 were given merit prizes. personal counseling. Chapter Chairman. and introduced the programme. Twenty eight of Oral Coaching Students at its premises. the constitution of the Bench. Manager-Finance. Apte while addressing the Rajnish C Popat. Thereafter S. Time Management was dealt with by Pankaj Prize Distribution and 27th Foundation Day Celebration Kothari. received prizes on the occasion. their jurisdiction.Company Law Board(CLB). Visiting Faculty for MBA at IMS. Management Committee and other who while congratulating the students for making Company members actively participated in the Fair by their presence at the ICSI Secretaryship a Career choice emphasized the need for integrity.2007 to 16. having core competency.2007 the Chapter organized a Parents’ Meet of 60th Batch its 11th Training Orientation Programme at its premises. Around 100 Educational Institutions participated in the Fair. The Valedictory Session: Rahul Shah.4.2007 the Chapter celebrated its 27th Foundation Day at Indore dealt with Group Discussion.4. J. The Faculty Members also spoke on the occasion. CII-Mysore Zone and also a Member presentation about the Institute and the career prospects was of the Institute was the Chief Guest of Honour of the Foundation Day displayed. Monopolies and Inaugural Session: The programme was inaugurated by Chirag Restrictive Trade Practices Commission (MRTPC).3. Anand. Eleventh Training Orientation Programme Parents Meet From 12. landmark also a presentation from him on “Future of Company Secretary’’. landmark judgments. (Infrastructure) subject matter of the discussion was substantiated by a Power Point Mundra Port and Special Economic Zone Limited (an Adani Group presentation and a paper at the end. Govt. Nearly 4000 students and academicians visited the Fair. Appellate Tribunal under FEMA to derive maximum benefit out of the programme for personal and etc. P.2007 the Hyderabad Chapter of the Institute organized its AHMEDABAD CHAPTER 10th Academic Development Programme on Mock Exercise with regard Fourth Training Orientation Programme to Presentation before CLB/NCLT/NCDRC/MRTPC etc. mock session.K.

) : SADD WU0098769/09/2003 Ernakulam (Distt. ACS and faculty at Indore INTERMEDIATE GROUP II ORAL COACHING discussed the topics Usefulness of Professional Development CLASSES Programmes and Managing Under Crisis. Sreyas. Thane health and Safety was the Chief Guest. Sandesh Yashlaha.) : SEML WU0098769/09/2003 is a profit centre. Swastik At the valedictory session D. A. Industrial Plaza. 2nd Floor Examinations. status 1. Each unit Input format (E. Adalat Road Aurangabad-431 001 (M. 2 and 3 for group. SROL company. MP Stock Exchange Indore discussed Organization Completion Certificates to the participants.e-mail: rrajguroo@yahoo. SOUTHERN INDIA REGIONAL COUNCIL Input format (E. Rajendra Kewlia. the student can know their address as per Institute’s Chettiparambil Lane Examinations Records. the student can know the details of Coaching receipt of answer is 16th July. PRIZE QUERY : A company owned many units. PCS and Past of Oral Coaching Classes for Intermediate Group II students. second) in kind will be awarded to the best answers and the names Input format (E. The company prepared its final accounts abc@yahoo. services rendered by it to unit B? Input format (E. Chairman of the Chapter dealt with the topic Code of Conduct. Incase of SEML service. While addressing the (W) 400 601. Shalimar Corporate Center Session of CS registration number. the student can register the email address with the STUDENTS QUIZ Institute for communication with ICSI through participants he explained the key for successful practical life and LIST OF THE INSTITUTES IMPARTING ORAL COACHING FACILITIES TO THE CS STUDENTS APPEARING IN INTERACTIVE SMS QUERY FOUNDATION. 2nd Pohkran Rd (Subash Nagar).g. For further details contact the Chapter Office at 206. 4.2007 the Chapter intends to commence next batch Drafting of Minutes. June 2007 and addressed Where SCCN is the code for the service. Two prizes (a first and a Completion Certificate No.K.. ‘ICSI House’. Name & Address of Validity for CS Session STUDENTS No.e. Ashok Mishra. Last date for Using this.S) the mobile number of the student. 8. ‘I’ is the code used for Intermediate and ‘F’ is the code Institute of Company Secretaries of India. 2007. DRT.): SCCN WU0098769/09/2003 F 1 of the contributors will be published in the Bulletin.M. Practising Company Secretary discussed the topic Significance of Training and W.) SREG WU0098769/09/2003 2. Career Classes December‘07 June‘08 student has also to provide email address in addition to his / her 303. Balwas Indore (M. the students have to send a SMS at Kolkata-700 016 9891240000. Institute of Management December‘07 & June‘08 Training & Research Session of CS 1.) Kerala-682301 3. used for Foundation and 1. The envelope should be superscribed Students Query. of the company and raised a debit note on the latter for the Using this. Using consolidating the accounts of all units. Mohans Institute of Company December‘07 & June‘08 Secretaries. 2. Contents of this SMS should contain the matter in WESTERN INDIA REGIONAL COUNCIL any one of the following input format along with the respective student’s Registration number. New Delhi-110003. Sector-III. Session of CS Using this. 2. Member of the Institute inspired the participants. South Tukoganj Near Hotel Examinations. SREG Artha Complex.. Jain. students can register their mobile number. Development Session of CS 1-B-200/ registration number and address of the student. Lodi Road. News and Announcements with Communication Skill. Institutional Area.g. The for Final.Phone:25444479. rendered certain services to another unit.g. Answer should not exceed one page typed in 5. the student can know the details like roll number services so rendered. and date.g. Off. How to use this facility? Salt Lake City To avail this service. Student Company Secretary 27 June 2007 . Asst. 22. CC and e-mail address. address. Notices & Resolution. Institute for Inspiration & Self December‘07 & June‘08 of Roll no. SADD 4.) : SROL WU0098769/09/2003 CONDITIONS : 1. RBI and their views one by one. INTERMEDIATE AND FINAL EXAMINATIONS UNDER PUBLIC/PRIVATE PARTNERSHIP SCHEME FACILITIES FOR THE BENEFIT OF S.P) The Purpose and input format of using these facilities are mentioned below: 3. Role and Functioning of Stock Exchange/SEBI. Ajit Jain. B. Neema. 3. Thekkumbhagam Tripunithura Input format (E. Prior to Voltas Ltd. SCCN double space. Thereafter Chief Guest issued Course and Secretary. Past Chapter Treasurer and Vice Chairman THANE CHAPTER discussed the topic How to Qualify Professional Examination and Meaning of professional. SEML Using this.g. Director. ‘N’ is the code used by name to N. Neelesh Gupta. Secretary & Chief Executive Officer. Empanelled Institutions of Examination The Institute has launched the following interactive SMS query EASTERN INDIA REGIONAL COUNCIL facilities for the benefit of students whereby the student can get / submit information related to his mobile number. All the participants shared Structure. Examinations.f. Is unit A liable to pay service tax on the and examination centre. the 2. The Near IMA House and Tapdiya mobile from which the SMS would be sent will be registered as Terrace. One unit of the 4. The answer sheet should contain the name.7.

: 23399541/ 03. the ICSI to Prasad Nagar.09.06. : 022- CCRT of the 22. Hyderabad 18. G Module III-Managing Public Issues. 1956. : 23325458 ❏ E-mail : hyderabad@icsi. : 25763090/ 13.09..2007 EIRO Premises Executive Officer. Hyderabad-500004 ❏ Tel.2007 : 0512-2212767.2007(ii) 10. In & kanpur@icsi.2007 22816541❏ Fax No. CCRT of the ICSI. ICSI-EIRC Bldg. The ICSI-Hyderabad : 033-22816542 ❏ E-mail : eiro@icsi.09. G Module IV-Loan Documentation. New No. Institutional Area.07 to 05. # 6-3-609/5. SIRC : (i) 08. Joint Ventures & Foreign The schedule of other TOPs proposed to be organised by NIRC.2007 CCRT Programme Coordinator.07. 3-A.07 to 27.Q. Kanpur Chapter.09.09. The ICSI-Hyderabad Chapter. : 08. Student Company Secretary 28 June 2007 . ICSI-NIRC Building. Khairatabad. CBD Belapur. EIRO of the NIRC of ❏ Bangalore Chapter : 10. : 23325458 ❏ E-mail : hyderabad@icsi.10. SIRC of the ICSI. NIRC of the ICSI. Chapter to Premises Anand Nagar Colony. Wheat the ICSI to Crofts Road. 118/90. : 022-27574348 ❏ E-mail : Hyderabad 03. ❏ E-mail : kcics@sancharnet./REGIONAL COUNCILS/CHAPTERS ELIGIBILITY OF PARTICIPANTS : ICSI final passed candidates.2007 NIRO Premises Executive Officer. Ahiripukur the ICSI to 1st Lane. SMTP COURSE CONTENTS : Module I-Filling and Filing of Forms under the Companies Act. SIRC & Bangalore Chapter during 2007 is as under: NIRC : (i) 23396494 ❏ Fax No.2007 SIRO Premises Deputy Director. Khairatabad.06. # 6-3-609/5. Raising Finance through EURO Issues & Export and Import Procedures and Documentation.2007 to 14. SMTP ORGANISED BY H. the participants would be exposed to case studies and mock board/ general meeting. Consumer Protection Act and Case Studies in RTP/UTP.2007. : 044-28279898/28268685/ 03. 5. : 22832973/14.07 Bangalore Chapter: (i) to 14.2007 Chapter Programme Coordinator.07 to 07. Kanpur-208012.07 to Nungambakkam-600034 ❏ Tel.2007 Chapter Premises Kanpur Chapter of NIRC of the ICSI. Hyderabad-500004 ❏ Tel.11. 0512-2296535 ❏ Fax ICSI Navi Mumbai-400614 ❏ 4.2007 27577814/ 15/16 ❏ Fax No.07. Plot No. Plot No.08. ❏ Tel.09. etc.2007 25767190. ICSI-SIRC House.07 SCHEDULE OF TRAINING ORIENTATION PROGRAMMES (TOP) Organised by Duration of the Venue of the Programme Contact Address the Programme EIRC of Kanpur Chapter 26.10. ICSI to Premises Institutional Area. (19th Residential ccrt@icsi.07 to 12. Sector-15.09. SIRC and Bangalore Chapter during 2007 is as under: NIRC : (i) 18.10.07 (ii) 28. "GUMTI PLAZA" of NIRC of the to Kausalpuri.07 to 04. No.07 Kanpur Chapter : (i) 10.07 SIRC : (i) 18. G Module II-Practical and Procedural Aspects of Convening and Conducting Board Meetings & Annual General Meetings and Related Aspects.10. Gumti. New Delhi-110005 ❏ Tel. 9. 25816593 ❏ Fax : 25722662 (STD CODE : 011) ❏ E-mail : SMTP) The schedule of other SMTPs proposed to be conducted by NIRC. Near Beck Bagan Nursing Home. Organised by Duration of the Venue of Programme Contact Address Programme SIRC of 18.2007 Chapter Programme Coordinator.2007 E-mail : siro@icsi. Kolkata-700019 ❏ Tel. Chapter to Premises Anand Nagar Colony.2007 23399541/ 23396494 ❏ Fax No.07 to 14. GModule V-Practical and Procedural Aspects relating to Appearance before CLB/Under SICA.

Number of exemptions granted : 46 4.05. telephone/ mobile no. A-5/A. Please mention your Name. Jaipur Chapter of NIRC of The Institute of Company Secretaries of India. Number of pending applications as on 31. the Institute is organizing an all India Essay Writing Competition for students on the following theme: "Role of Company Secretary in the Emerging Scenario" You are invited to write an Easy in English on the above topic in not more than 2000 words.ALL INDIA ESSAY WRITING COMPETITION FOR STUDENTS Communication skill-both oral and written have always been the hallmark of successful professionals. The Essay should be neatly typed in double space and preferably a floppy/CD should also be sent along with the Essay. In case. ALTERNATIVELY The Essay could be sent as an attachment in Word File and E.05. In case the essay is being sent by post the same should be sent at the following address.07 31.04. registration No. Number of applications received for exemption : 39 3. E-mail address. LAST DATE FOR RECEIPT OF ESSAY BY JAIPUR CHAPTER OF NIRC OF THE ICSI IS 14TH AUGUST 2007. Number of applications pending as on 30. if any. In the emerging scenario the professional need to further strengthen these capabilities for increased effectiveness. Taking cognizance of this desirable necessity amongst the students of Company Secretary ship course.mailed to jpricsi@datainfosys.05. Exemption 1.04. complete postal address with Pin code. Institutional Area." Shri Girish Goyal.07 (upto 31. fax number.05. Jhalana Doongri. of students Pending Training as on during the consideration as on as on during who have actually as on Type 30.04. any material has been quoted.07 month (upto 31.2007 : 15 Student Company Secretary 29 June 2007 . Best Essay chosen by the Committee/Panelist will be suitably rewarded and published in Institute's publication.07) 15 Months in 08 38 36 10 18 84 77 25 Companies 15 Months with 04 34 33 05 30 106 121 15 CS in Practice 3 Months in NIL 71 71 NIL Company/ 15 Days in Optional Area 2.07) 31. it must be specifically mentioned and its source should be clearly the subject being.2007 : 22 2. Chairman. Jaipur-302004. duly sealed in a cover marked: "Students Essay writing Competition 2007. stage of course. STATUS OF TRAINING (Period from 01-05-2007 to 31-05-2007) 15 Months Training with Company/Company Secretary in Practice and 03 Months & 15 days Practical Training STAGE-I STAGE-II Biodata of the students sent to the companies/company Students sponsored for training secretaries in practice for consideration APPLICATIONS CASES Pending Received Forwarded for Pending Pending Received No.07 the month taken for training 31." Student Essay Writing Competition 2007".05. The essay must be your own original work and not to be copied form any source.

LIST OF THE COMPANIES REGISTERED FOR EASTERN IMPARTING TRAINING DURING THE MONTH OF RDB Industries Limited 15 Months 3000 APRIL. Nagpur-440001 From : Cholamandalam Investment and Finance Co. Powai. Ansari Road. Industrial Area 2nd Floor. Ltd. 15 Months Suitable Industrial Area. Tower A & B Training HLL Building. Kalpataru Synergy Training Kundannur Jn. D Road. Vikhroli (West) No. Harleys Road. Worli. Training New Delhi-110020 E. Kolkata-700001 Type (Rs. Sector-V Training WESTERN Saltlake City. Hiranandani Kochi-682037 Business Park. 686. 15 Months Suitable To : Cholamandalam DBS Finance Ltd. Andheri Kurla Road. Kolkata-700071 New Delhi-110002 Insight Share Brokers Limited 15 Months Suitable Cairn India Limited 15 Months 7000 CK-15. Orchid Plaza. Phase-II. Shrachi Towers. Gurgaon-122002 Canon India Private Limited 15 Months Suitable VISA Steel Limited 03 Months Suitable 2nd Floor. 15 Months Suitable 03 MONTHS PRACTICAL TRAINING 8-J. Cochin Special Training Co. Training Kolkata-700091 Suncity Sector-54. Santacruz (East) Uniply Industries Limited 15 Months Suitable Mumbai-400055 No. Plot-Y 6. 2 C Mathura Road. 15 Months 5000 Mastek DC Offshore Development 15 Month Suitable Plot No. 1st Floor Marg. Kilpauk Training Gini & Jony Limited 15 Months Suitable Chennai-600010 A-601.) Kolkata West International City Pvt. Ltd. Pvt. Ltd.B. R. Bypass.Mumbai-400020 Student Company Secretary 30 June 2007 . 15 Months Suitable NH 47 By-Pass Training 101. Citi Point. Mumbai-400076 M. J-1. 37. Shivsagar Estate.M. Ltd. Ltd. Rajendra Place Ground and 1st Floor Training Thapar House. 15 Months 5000 NORTHERN "Chowringhee Court" Training Atlas Cycles (Haryana) Limited 15 Months Suitable 1st Floor. New Delhi-110044 Kolkata-700013 Chokhani International Limited 15 Months Suitable "Chokhani House" D-3/2 Okhla Training Shrachi Burdwan Developers Pvt. Kolkata-700091 Birla VXL Limited 15 Months Suitable Aerodrome Road. Lal Bazar Training Region Training Stipend Street. Hindustan Construction Co. Suit No. 15 Months Suitable E-4 (i). Grand Hyatt. Hincon House. New Delhi-110020 Tantia Constructions Ltd. 2007 Bikaner Building 8/1. Mumbai-400093 Dr. FAR Hotels Limited 15 Months Suitable Kalpataru Properties Pvt. 55 & 55/1. 15 Months Suitable Block-EP. Level-2.S. 2nd Floor Practical Training Cyber Greens. Ltd. 3rd Floor. North Stand. Training Economic Zone. 15 Months 4000- Plot No. Connector Bonanza Portfolio Limited 15 Months 5000 Junction. 2. Bose Road. Ltd. Sector-II. Training Darya Ganj. Ltd. Chowringhee IInd Floor. Mumbai-400059 CHANGE IN NAME OF THE COMPANIES IMPARTING 15 AND Horizon Infrastructure Ltd.C. DLF Phase-III 9. Churchgate To : Focus Energy Limited Mumbai 3rd Floor. Andheri (East) Sandoz House. Wankhede Training From : Phoenix Overseas Limited Stadium. Training Andheri (East). Shakespeare Sarani Gurgaon-122002 Kolkata-700071 Shailja Finance Limited 15 Months Suitable VC Corporate Advisors Pvt. Anandapur. Temple Road New Delhi-110008 Civil Lines. Annie Besant Road. Block B-1 Training 31 Ganesh Chandra Avenue Training 5000 Mohan Co-Op. Ltd. Mata Sundri Lane Training Road. Chennai-600001 Mumbai-400083 From : Hindustan Ciba-Geigy Limited Mumbai Metro One Pvt. Gopala Tower ACE Refractories Limited 15 Months Suitable 25. 1st Floor. 52. Cochin-682304 Opp. Jamnagar-361006 Training SOUTHERN Gujarat SFO Technologies Pvt. Salt Lake City Training 3rd & 4th Floor. MIDC Area To : Novartis India Limited Marol. Kolkata-700107 4353/4C. Lal Bahadur Shastri Training Dare House. N. Kakkand Fairmont.

The journal is rated to be one of the best professional journals consistently maintaining high standards in providing Government notifications. Naupada 101. and the “Articles” section provides informative and analytical articles on contemporary topics. 2nd Lane.for the Registered Students of the Institute. Behind Kadambari R RAMAKRISHNA GUPTA PCSA-1479 Bldg. PREM KUMAR BAFANA PCSA-1481 Near KCC Bhavan. legal decisions and analytical and informative articles. the “From the Government” column provides changes/ amendments in various statutes/Laws/Rules etc. It is in the interest of the students to subscribe to the Journal. Students interested in receiving the monthly journal ‘Chartered Secretary’ may send a Demand Draft favouring the Institute of Company Secretaries of India for an amount of Rupees 300/. Jaldeep Apartment. S No.and forward the same to : Joint Director (Publications) The Institute of Company Secretaries of India 22. SEEMA AGARWAL PCSA-1483 TPS III Rd. Student Company Secretary 31 June 2007 . Shanti Vihar. Aravind Flats MUKTA SHAILESH KULKARNI PCSA-1477 Visweswarapuram. Begumpet. Road. 38. Sapthagiri Residency. Chikoti Gardens Thane (W)-400602 1-10-98/A. Kankurgachi. ANJALI ANANT BAVARE PCSA-1473 Meerut-250002 490/12 B. members of the Institute and lawyers but is equally important for students for keeping them well informed about the latest changes and developments. Chennai-600004 39. Lucknow-226003 Attention Students! SUBSCRIPTION TO CHAR TERED CHARTERED SECRETAR SECRETAR ARYY Students may perhaps be aware that the Institute has been bringing out a monthly journal Chartered Secretary for corporate professionals for the last over thirty-five years. Swastishri Society VANDANA ARUN PCSA-1470 Karve Nagar. Old No. 300/.B. Borivli (West). 14. Institutional Area. Pune-411052 B-2/211. TRAINING DURING THE MONTH OF APRIL. Mylapore. F-3. Chikuwadi. S P College Ground PRATIK SHAH PCSA-1475 Pune-411030 D/12. IInd Floor.S. Napier Road Colony. Mumbai-400092 Part-II Thakur Ganj. Anand Nagar. Raheja Nest Complex. 2007 Chandivali Farm Road. Hyderabad-500016 POURNIMA M THAKUR DESAI PCSA-1472 RAHUL SAINI PCSA-1480 C-1/1. Lodi Road. Garh Road. The journal is not only important for corporate professionals. Chandivali B BHANU REKHA PCSA-1469 Andheri-E. 9. 8. 3rd Floor Pune-411011 Howrah-711101 PARAS MITTAL PCSA-1474 AMRUTA AVINASH MAJUMDAR PCSA-1482 26/R U Block. 3rd Floor. Riddhi Avenue CHS Ltd. Pttam Pura C-201. 2160/B New Delhi-110088 Sadashiv Peth.This in turn will not only help the students to write their examinations well but will also help them to step into the professional world with confidence. Mumbai-400072 New No. 3rd Floor APARNA PARICHARAK PCSA-1471 Kolkata-700054 Anandi Niwas. L. The “Legal World” section provides all the latest and important cases.LIST OF PRACTISING MEMBERS REGISTERED FOR ASHITA KAUL PCSA-1476 THE PURPOSE OF IMPARTING APPRENTICESHIP 105-B. Safdarjung Enclave RAJAT KUMAR JALAN PCSA-1478 New Delhi-110029 39 B. Next to Shree Krishna Hotel 142. Shreekrupa. New Delhi-110003. The concessional annual subscription of the journal is Rs. Maharaja Arcade Pune-411041 Near Nandan Cinema. Opp. Kasba Peth 14 N D Mukherjee Road. Swami Puram. 2. A rolling Shield would be presented to the winner of the National level event at the 35th National Convention of the Institute scheduled to be held at Jaipur from 20th to 22nd September. Ahiripukur 1st Lane. Tele: 033-22871873. 2007 at EIRO of the ICSI. 2007 and Regional Councils should conduct the Semi final round on or before 23rd July. a “Certificate of Participation” would also be issued to all the participants of the National Company Law Quiz by EIRC. 2007. 22816542 [M] 9231972411 NOTES : 1.per student FOR ENROLMENT CONTACT : Executive Officer/Administrative Officer-EIRO of The ICSI. The best paper writer will be duly recognized at the Conference. Management Consultant and Sr. Participation Fee : Rs 500/. Ahiripukur 1st Lane .700017 Day & Date : Saturday. The papers to be presented at the Conference will be by a panel of experts. Interested students may register themselves as early as possible. 28th July. passport size photographs alongwith marks obtained) for the National round to be held at EIRC of the ICSI latest by 26th July. Kolkata . Kolkata-700019. 3A. 3. 7TH ALL INDIA COMPANY LAW QUIZ-2007 EASTERN INDIA REGIONAL COUNCIL Eastern India Regional Council of The Institute of Company Secretaries of India is organizing the 7th All India Company Law Quiz Programme for students on Saturday. the 4th August. One team consisting of two winning contestants from each Region would be participating in the National Level event to be held in Kolkata on Saturday. 2007 Timing : 09. 5.00 PM Faculty : Eminent faculty from Government. The Chapter should conduct Preliminary round on or before 16th July. Students who have passed the Final CS Examination but undergoing training shall not be eligible to participate in the competition. The papers may please be arranged to be sent at the earliest to EIRO. 36A. The selected papers will be published in the Souvenir. interested students may contact their concerned Chapter/Regional Council EASTERN INDIA REGIONAL COUNCIL Organizes its 22ND REGIONAL STUDENTS' CONFERENCE THEME : "TOWARDS BROADENING THE HORIZON" Venue : Bharatiya Bhasa Parishad. 2007 without payment of Delegate fee. For further details. 3A. 2007. Registration No. After the Semi final round the Regional Councils are requested to send the details of the students representing their Regional Council (Names. 4th August. Student Company Secretary 32 June 2007 . Moreover. Members of the Profession will address. 2007. Shakespeare Sarani. Kolkata – 700019 It will be a three tier programme l Chapter Level l Regional Level l National Level All the Regional Councils/Chapters/Satellite Chapters in the first instance would organize Company Law Quiz programme for the students at their level. Students of ICSI are invited to write and send papers on the topics covered by the Technical Sessions to EIRO of the ICSI by E-Mail Address: eiro@icsi. The winners from each Chapter level event consisting of not more than two students would be participating in the Regional Level programme.00 AM to 6.