Volume No.

XXIV
Student Company Secretary ISSN 0972-2874
July 2007

7
EDITORIAL CENTRAL COUNCIL ANNUAL SUBSCRIPTION Rs. 50
ADVISORY BOARD MEMBERS SINGLE COPY Rs. 5.00
Chairman President
Edited, printed and published by
S. Balasubramanian Preeti Malhotra(Ms.)
N.K. Jain for the Institute of
Vice-President
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
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Lalit Bhasin Biswa Behari Chatterjee Fax : 91-11-24626727
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Nesar Ahmad Harish Kumar Vaid Printed at Daily Tej Pvt. Ltd.
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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

HIGHLIGHTS
H I G H L I G H T S

From the President 03

Academic Guidance 05
Legal World 10
Student Services 14
CS Exams. - Dec. 06 - Prize Award Winners 22
Students Quiz 32
Prize Winners 32
News and Announcements 34
Schedules of SMTPs/TOPs/ADPs 37, 38
EIRC Programmes 40

Student Company Secretary 1 July 2007

 From The President

The positive thinker sees the invisible,

feels the intangible, and achieves the impossible.

Winston Churchill

Dear students,
A persons happiness and effectiveness truly depends upon his quality of thinking. We have all
experienced being around positive people who shine with energy, goodwill and vivacity. They
have an aura of confidence and success; they smile and appear confident; they enjoy life. It is
nearly impossible to be truly happy if a person is continuously entertaining unhappy thoughts. Life
throws on each of us a lot of curves and corners. No one goes through life without problems, or
without running into obstacles. Sometimes these problems or obstacles can be enormous. But whats really important is how we
face these obstacles. I believe the more and the harder the obstacles are, the taller is the jump of the inner fountain of happiness
that has brought us into this life. The more strong and unremittingly committed that we are in drawing nourishment and sustenance
from this eternal fountain of happiness, the sure is our progress.
When things go wrong, our natural tendency is to become upset, angry, and to lash out at the people and situations around us.
We tend to blame others and make excuses. We allow external circumstances to dictate the internal attitudes of our mind. If we
think negatively, we can be overwhelmed, give up or become ineffective in dealing with them.
On the other hand we can handle the problems in a better way. We can choose to look for something positive in the situation.
We can choose to consider it a blessing in disguise even if we have no idea what that blessing might be. We can look for an
advantage or opportunity in any situation.
Negative thinking, is part of everyones life, however there are ways that everyone can get rid of negative thinking and turn it
into positive action points. There are many situations that come up in everyones life when one is encouraged to indulge in
negative thinking, but the actual decision to take part in that negative thinking is totally up to the person who is tempted by the
negatives. The successful and the high achievers always carry a happy mental frame. They continue to think about winning and
success even under the most difficult circumstances.
It is a known fact that life is what you think it should be. The quality of your thinking is a major factor in determining the quality
of your life as a student. You have the capacity within you to have and do what you decide to do in life. But you must introspect,
meditate and learn to control your thoughts and make a u-turn to positives and happy frame of mind.
Positive thinking is a mental attitude that admits into the mind thoughts, words and images that are conducive to growth,
expansion and success. It is a mental attitude that expects good and favorable results.
It has been observed that in life we will fail more often than we succeed. But I believe failures and obstacles are better friends
than success as they teach us a lot more and give us an enduring long-term benefit.
Friends, I have been emphasizing that communication skills both oral and written have always been the hallmark of successful
professionals. In the emerging scenario the professionals need to further strengthen these capabilities for increased effectiveness.
Taking cognizance of this desirable trait amongst the students of Company Secretaryship course, i am pleased to inform you that
the 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, 2007 at
Jaipur. The last date for receipt of the Essay is 14th August 2007.
I am equally pleased to inform you that the Ahmedabad Chapter of the Western India Regional Council (WIRC) of the Institute
is organizing its 8th All India Students Conference on the theme Integrating Professional Skills & Soft Skills for Excellence
on 10th & 11th August, 2007 at Ahmedabad.
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. EIRC of the Institute is also organizing All India Company
Law Quiz programme for the students on 4th August 2007 at Kolkata.
The Bangalore Chapter of the SIRC of the Institute is organizing 5th All India Moot Court Competition from 17th to 19th August
2007 at Bangalore. I advise you to actively participate in these competitions/programmes. The benefit will be immense.

Student Company Secretary 3 July 2007

 From The President
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, 2007 at B M Birla Auditorium, Jaipur. A brochure
containing details of theme and sub-themes, fee, registration procedure, list of hotels and their tariffs, registration form etc. has
been published in the July 2007 issue of the Chartered Secretary. There is a special concession in delegate fee for the benefit of
students of the ICSI.
The Institute has decided to award Academic Development Programme (ADP) Certificate to the students attending National
Convention. Hence such students would be exempt from attending compulsory ADP and would be deemed to have complied
with the requirement of attending 25 hours of Academic Development Programmes. The students attending the National Convention
have also been given concession in the payment of delegate fee. I advise you to ensure your participation at the Convention as
a delegate.
I conclude by stating that Marcus Aurelius was one of the wisest men that ever lived on the face of the earth and he once made
a statement that was very true when it comes to a persons thoughts, he said A mans life is what his thoughts make of it.
Whether you attract success or failure really depends on the kind of thoughts that you have. Those who focus their attention on
the good qualities that they have and take time to relish in their achievements, no matter how small they are, will inevitably attract
success. A positive mind anticipates happiness, joy, health and a successful outcome of every situation and action. Whatever the
mind expects, it finds.
With best wishes,

Yours sincerely,

New Delhi (PREETI MALHOTRA)

July 13, 2007 president@icsi.edu

ALL INDIA ESSAY WRITING COMPETITION FOR STUDENTS

Communication skill-both oral and written have always been the hallmark of successful professionals. 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, 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. The Essay should be neatly typed in double
space and preferably a floppy/CD should also be sent along with the Essay. ALTERNATIVELY
The Essay could be sent as an attachment in Word File and E- mailed to jpricsi@datainfosys.net the subject being," Student Essay
Writing Competition 2007".
Please mention your Name, registration No. stage of course, complete postal address with Pin code, telephone/ mobile no, fax number,
E-mail address, if any. The essay must be your own original work and not to be copied form any source. In case, any material has been
quoted, it must be specifically mentioned and its source should be clearly stated.
In case the essay is being sent by post the same should be sent at the following address, duly sealed in a cover marked: "Students Essay
writing Competition 2007."
Shri Girish Goyal, Chairman,
Jaipur Chapter of NIRC of The Institute of Company Secretaries of India,
A-5/A, Institutional Area, Jhalana Doongri, Jaipur-302004.
Best Essay chosen by the Committee/Panelist will be suitably rewarded and published in Institute's publication.

LAST DATE FOR RECEIPT OF ESSAY BY JAIPUR CHAPTER OF NIRC OF THE ICSI IS 14TH AUGUST 2007.
Student Company Secretary 4 July 2007
 Academic Guidance
ACADEMIC GUIDANCE
ECONOMIC LABOUR & INDUSTRIAL LAWS
HUMAN RESOURCES MANAGEMENT &
INDUSTRIAL RELA TIONS
RELATIONS
SOCIAL SECURITY*
Social Security caters to the universal human need for reassurance
and support in times of unemployment, illness, disability, death and
old age. The State bears the primary responsibility for developing
appropriate systems for providing protection and assistance to its
workforce and their families. Public support systems for social security
in India have gained prominence over traditional family support in tune
with the trends of urbanization and work place migrations. The
dependence on social security varies as per the need and income
status.
SOCIAL SECURITY LAWS
The principal social security laws enacted centrally are the following:
The Employees State Insurance Act, 1948
The Employees Provident Funds & Miscellaneous Provi-
sions Act, 1952. (Separate provident fund legislations exist
for workers employed in Coal mines and tea plantations in
the State of Assam and for seamen).
The Workmens Compensation Act, 1923
The Maternity Benefit Act, 1961
The Payment of Gratuity Act, 1972
ADMINISTRATION OF SOCIAL SECURITY ACTS
The Employees Provident Fund and Miscellaneous Provisions Act,
1952 is administered by the Government of India through the
Employees Provident Fund Organisation (EPFO). Cash benefits under
the Employees State Insurance Act, 1948 are administered by the
Central Government through the Employees State Insurance
Corporation (ESIC), whereas the State Governments and Union
Territory Administrations are administering medical care under the
Employees State Insurance Act, 1948.
The Payment of Gratuity Act, 1972 is administered by the Central
Government in establishments under its control, establishments having
branches in more than one State, major ports, mines, oil fields and
the railways and by the State Governments and Union Territory
Administrations in all other cases. This Act applies to factories and
other establishments. In mines and circus industry, the provisions of
the Maternity Benefit Act, 1961 are being administered by the Central
Government through the Chief Labour Commissioner (Central) and
by the State Governments in factories, plantations and other
establishments. The provisions of the Workmens Compensation Act,
1923 are being administered exclusively by the State Governments.
EMPLOYEES PROVIDENT FUNDS AND MISCELLANEOUS
PROVISIONS ACT, 1952
The Employees Provident Funds and Miscellaneous Provisions
Act, 1952 is a welfare legislation enacted for the purpose of instituting
a Provident Fund for employees working in factories and other
establishments. The Act aims at providing social security and timely
monetary assistance to industrial employees and their families when
they are in distress and/or unable to meet family and social obligations
and to protect them in old age, disablement, early death of the bread
winner and in some other contingencies. Presently, the following three
Schemes are in operation under the Act through the EPFO:
Employees Provident Funds Scheme, 1952
Employees Deposit Linked Insurance Scheme, 1976
Employees Pension Scheme, 1995
*Compiled by Archana Kaul, Assistant Director, The ICSI.
Student Company Secretary
The Employees Provident Fund and Miscellaneous Provisions Act,
1952 extends to the whole of India, excluding the State of Jammu &
Kashmir. The Act is applicable to factories and other classes of
establishments engaged in specific industries, classes of
establishments employing 20 or more persons. The Act, however does
not apply to cooperative societies employing less than 50 persons
and working without the aid of power. The Act also does not apply to
employees of the Central Government or State Government or local
authority. The Central Government is empowered to apply the
provisions of this Act to any establishment employing less than
20persons after giving not less than two months notice of its intent to
do so by a notification in the official gazette. Once the Act has been
made applicable, it does not cease to be applicable even if the numbers
of employees fall below 20. An establishment/factory, which is not
otherwise coverable under the Act, can be covered voluntarily with
mutual consent of the employers and the majority of the employees
under Section 1(4) of the Act. Thus membership of the fund is
compulsory for Employees drawing a pay not exceeding Rs. 6500 per
month (at the time of joining). Every employee employed in or in
connection with the work of a factory or establishment shall be entitled
and required to become a member of the fund from the date of joining
the factory or establishment. The Employees drawing more than
Rs.6500/- per month at the time of joining may become member on a
joint option of employer and employee. The Act is currently applicable
to factories and other establishment engaged in about 182 specified
industries, class of establishments employing 20 or more persons
(Industries are specified in Schedule I of the Act). As on 31st March
2006, there were 4,44,464 establishment and factories covered under
the Act with membership of 429.53 lakh both in the exempted and
unexempted Sectors.
Employees Provident Funds Arrears
The Provident Fund arrears as on 31st March, 2006, were of the
order of Rs.2530.07 crore. The EPF Organisation launches prosecution
against the defaulting employers under Section 14 of the Employees
Provident Fund and Miscellaneous Provisions Act, 1952 and
prosecutes employers under Section 406/409 of the Indian Penal Code
in case they deduct employees share of contribution but do not remit
the same to the fund. During the year 2005-2006, arrears amounting
to Rs.1958.55 crore were realized.
Employees Deposit Linked Insurance Scheme,
1976
Employees Deposit linked Insurance Scheme, 1976 is applicable
to all factories/establishments with effect from August 01, 1976. All
the employees, who are members of the Employees Provident Fund
are required to become members of this Scheme. Employers are
required to pay contributions to the Insurance Fund at the rate of 0.5
per cent of pay i.e. basic wages, dearness allowance including cash
value of food concession and retaining allowance, if any. During the
year 2005-2006, a sum of Rs.220.69 crore comprising of employers
contribution was deposited. During the year 2005-2006, 19228 claims
were settled and an amount of Rs.49.42 crore was disbursed. At the
end of 2005-2006, the EPFO had cumulative investments of
Rs.4918.99 crore under this Scheme.
Employees Pension Scheme, 1995
The Employees Provident Fund and Miscellaneous Provisions Act,
1952 was amended and a separate Pension Scheme was launched
from 16th November 1995 replacing the then Employees family Pension
Scheme,1971
Pension Criteria
Superannuation pension will be payable on attaining the age of 58
years and on completion of 20 years of service or more. Early pension
can be taken at a reduced rate between 50-58 years of age, on
completion of 10 years pensionable service or more. No pension for
less than 10 years of service lump sum withdrawal benefit is paid in
such cases.
5 July 2007
 Academic Guidance
Benefits under the Scheme
The Employees Pension Scheme, 1995 provides the following
benefit package;
Superannuation pension.
Early pension
Permanent total disablement
Widow or Widowers pension
Children pension or Orphan pension
Nominee pension / dependent parents
Pension.
The category-wise break up of pension claims (all benefits) settled
by EPFO during the year 2005-2006 is indicated in the following Table:
Category of Claims Number of Claims Settled
Monthly Pension Benefits 333724
Life Assurance Benefit 1302835
Retirement-cum-withdrawal benefit
Refunds
TOTAL 1636559
Contribution
From and out of the contributions payable by the employer in each
month to the Provident Fund, a part of contribution representing 8.33%
of the employees pay is remitted to the Employees Pension Fund.
Employer to pay for cost of remittance. The Central Government
contributes 1.16% of the pay of the employee to the Employees
Pension Fund. If the pay of the employee exceeds Rs.6500/- per month,
the contribution payable by the employer and the Central Contribution
will be limited to the amount payable on his pay of Rs. 6500/-.
Contribution to Pension Fund
The Scheme is financed by transferring 8.33% of the Provident
Fund contribution from employers share and by contribution @ 1.16%
of basic wages by the Central Government. All accumulations in the
ceased Family Pension Fund constitute the corpus of the Pension
Fund. During the year 2005- 2006, Rs.6885.45 crore were received
as Pension Fund contributions, out of which Rs.6135.45 crore were
collected from Employers share and Rs.750 crore were contributed
by the Central Government.
Pension Beneficiaries
The beneficiaries of the ceased Family Pension Scheme continue
to get benefits under the new Pension Scheme. As on 31.03.2006,
there were 1360510 members, 512110 spouses, 440607 children,
10401 orphans and 12255 nominees receiving pension under the
Scheme. Total amount disbursed among the pensioners during the
year was Rs.1955.95 crore through the nationalized banks and post
offices.
MODERNISATION PROGRAMME
Re-inventing EPFO
The Employees Provident Fund Organisation has undertaken a
massive programme of modernization through a programme of
Reinventing EPF India. It is basically aimed at repositioning EPF
as a world-class Organisation in extending service to its stakeholders
by adopting modern methods of compliance. It will achieve claims
settlement with in 2 to 3 days instead of 30 days (as per present rules)
and there will be no need to change the Account number when any
member will be transferring from one station to another station.
Student Company Secretary
THE EMPLOYEES STATE INSURANCE SCHEME
Coverage
The Employees State Insurance Act, 1948 provides for health care
and cash benefit payments in the case of sickness, maternity and
employment injury. The Act is applicable to non seasonal factories
using power and employing 10 or more employees and non-power
using factories and certain other establishments employing 20 or more
employees. The Act is being implemented areas-wise, in a phase
manner. The ESI Scheme is operated in 728 centres situated in 25
states/union territories. As on 31.03.2006, 91.49 lakh insured persons
and about 353.05 lakh beneficiaries are covered under the Scheme.
The number of factories and establishments covered by the end of
the year had gone up to about 3,05,294.
Administration
The ESI Scheme is administered by a statutory body called the
Employees State Insurance Corporation (ESIC), which has members
representing Employers, Employees, Central and State Governments,
Medical Profession and the Parliament. The Union Minister for Labour
& Employment is the Chairman. A Standing Committee constituted
from among the members of the Corporation, acts as the executive
body for administration of the Scheme and is chaired by Secretary to
the Government of India, Ministry of Labour & Employment. There are
24 Regional Boards and 345 Local Committees in existence at present.
The Director General is the Chief Executive Officer of the Corporation
and is also an ex-officio member of the Corporation as well as its
Standing Committee. The ESI Corporation, apart from the Hqrs.Office
located at New Delhi, has a large number of field offices throughout
the country. The Corporation has 23 Regional Offices, 14 Sub-Regional
and 7 Divisional Offices throughout the country. Besides, there are
646 Branch Offices and 179 Pay Offices for administration of cash
benefits to insured persons. For inspection and coverage of new
factories/establishments, 248 Inspection Offices also set up across
the country.
Funding and Operation of the Scheme
The ESI Scheme is mainly financed by contributions from the
employers and employees. The rates of the employers and the
employees share of contribution are 4.75% and 1.75% respectively.
The State Governments share of the expenditure on the provision of
medical care is to the extent of 12.5% (1/8thwithin the per capita ceiling).
The Corporation has prescribed a ceiling on the shareable expenditure
on medical care. From 1st April 2005, the ceiling on expenditure per
insured person family unit has been raised to Rs.900/- per annum. All
capital expenditure on construction of ESI hospitals, and other buildings
including their maintenance is borne exclusively by the Corporation.
Investment
All contributions received under the ESI Act and all other moneys
belonging to the fund which is not immediately required for defraying
day to- day expenses are invested in the manner prescribed statutorily.
As on 31.10.2006, the total investment of fund was Rs.12909.30 crore.
Out of this, an amount of Rs.5640.38 crore was invested in the Special
Deposit Account with Central Govt. and the balance amount of
Rs.7268.92 crore was invested in fixed deposits with nationalised
banks, financial institutions etc.
Arrears of ESI Dues
A sum of Rs.1140.87 crore was in arrears as on 31.3.2006 on
account of default by the employers of covered factories/
establishments. Out of this, an amount of Rs.697.26 crore was not
recoverable, for the present, due to various reasons, such as, factories
having gone into liquidation, recovery having been disputed in Courts
etc. The balance, amounting to Rs.443.61 crore represents recoverable
arrears. The Corporation has been taking necessary recovery action
through Recovery Machinery, legal and penal actions, accordingly,
under various provisions of the Employees State Insurance Act, 1948
and under the Indian Penal Code for recovery of ESI dues. During the
year 2005-2006, the Corporation realized Rs.160.22 crore from the
6 July 2007
 Academic Guidance
defaulters through its own recovery machinery. Further, an amount of
Rs.57.57 crore was recovered from April, 2006 to September, 2006.
Health Benefits
The Scheme provides full medical facilities, from primary health
care to super specialty treatment in respect of the insured persons
and their family members. The medical care under the Scheme is
administered by the State Governments, except in Delhi. The
Corporation also directly administers 17 Model Hospitals in the country.
The total number of ESI hospitals by the end of March, 2006 was 144.
THE PAYMENT OF GRATUITY ACT, 1972
Objective
The Payment of Gratuity Act, 1972 provides for a scheme of
compulsory payment of gratuity to employees engaged in factories,
mines, oil fields, plantations, ports, railway companies, motor transport
undertakings, shops or other establishments.
Coverage
Every factory, oilfields, plantations, port, Railway Company
and mine.
Every shop or establishment within the meaning of any law
for the time being in force in relation to shops and estab-
lishments in a State, in which 10 or more persons are em-
ployed or were employed on any day of the preceding 12
months.
Every motor transport undertaking in which 10 or more per-
sons are employed or were employed on any day of the
preceding 12 months. Such other establishments or class
of establishments in which 10 or more employees are em-
ployed or were employed on any day of the preceding 12
months, as the Central Government may, by notification,
specify in this behalf.
A shop or establishment once covered shall continue to be
covered notwithstanding that the number of persons em-
ployed therein at any time falls below 10.
Entitlement
Every employee, other than apprentice irrespective of his wages is
entitled to receive gratuity after he has rendered continuous service
for five years or more. Gratuity is payable at the time of termination of
his services either (i) on superannuation or (ii) on retirement or
resignation or (iii) on death or disablement due to accident or disease.
Termination of services includes retrenchment. However, the condition
of 5 years continuous service is not necessary if services are terminated
due to death or disablement. In case of death of the employee, the
gratuity payable to him is to be paid to his nominee, and if no nomination
has been made then to his heirs.
Calculation of Benefits
For every completed year of service or part thereof in excess of six
months, the employer pays gratuity to an employee at the rate of 15
days wages based on the rate of wages last drawn by the concerned
employee. The amount of the gratuity payable to an employee not to
exceed (Rs.3,50,000).
Administration
The Act is enforced both by the Central and State Government.
Section 3 authorizes the appropriate government to appoint any officer
as a controlling Authority for the administration of the Act. Mines, Major
ports, oilfields, railways, factories and established owned or controlled
by the Central Government and establishment having branches in more
than one State, are controlled by the Central Government. The
remaining factories and / establishments are looked after by the State
Governments. 6.27 The Central/State Governments appoint the
Controlling Authorities for different areas and inspectors, to ensure
that the provisions of the Act are complied with. The Central/State
Governments also frame rules for administration of the Act. In
Student Company Secretary
Maharashtra, the labour courts in different localities are notified as
Controlling Authority for the administration of the Act.
THE MATERNITY BENEFIT ACT, 1961
The Maternity Benefit Act, 1961 is a piece of social legislation
enacted to promote the welfare of working women. The Act prohibits
the working of pregnant women for a specified period before and after
delivery. It also provides for maternity leave and payment of certain
monetary benefits for women workers subject to fulfillment certain
conditions during the period when they are out of employment on
account of their pregnancy. The services of a woman worker cannot
be terminated during the period of her absence on account of pregnancy
except for gross misconduct. Maximum period for which a woman can
get maternity benefit is twelve weeks. Of this, six weeks must be taken
prior to the date of delivery of the child and six weeks immediately
following that date.
WORKMENS COMPENSATION ACT, 1923
The main objective of the Act is to impose an obligation upon the
employers to pay compensation to workers for accidents arising out
of and in course of employment. The Act applies to any person who is
employed otherwise than in a clerical capacity, in railways factories,
mines, plantations, mechanically propelled vehicles, loading and
unloading work on a ship, construction, maintenance and repairs of
roads and bridges, electricity generation, cinemas, catching or trading
of wild elephants, circus, and other hazardous occupations and other
employment specified in Schedule II to the Act, Under Section 2(3) of
the Act, the State Governments are empowered to extend the scope
of the Act to any class of persons whose occupations are considered
hazardous after giving three months notice in the official gazette. The
Act, however, does not apply to members serving in the Armed Forces
of Indian Union, and employees covered under the provisions of the
Employees State Insurance Act 1988 as disablement and dependents
benefit is available under this Act.
Entitlement
In order to be a workman within the meaning of Section 2(1) (n)
of the Workmens Compensation Act, firstly, a person should be
employed; secondly, he should be employed for the purposes of the
employers trade or business; and lastly, the capacity in which he works
should be one set out in the list in Schedule II of the Act.
Benefits
The compensation has to be paid by the employer to a workman
for any personal injury caused by an accident arising out of and in the
course of his employment (Section 3). The employer will not be liable
to pay compensation for any kind of disablement (except death) which
does not continue for more than three days. If the injury is caused
when the workman was under the influence of Alcohol or drugs or
willfully disobeyed a clear order or violated a rule expressly framed for
the purpose of securing the safety of workman or willfully removed or
disregarded a safety devise. The rate of compensation in case of death
is an amount equal to 50 per cent of the monthly wages of the deceased
workman multiplied by the relevant factor or an amount of Rs.80, 000
whichever is more.
Where permanent total disablement results from the injury, the
compensation will be an amount equal to 60 per cent of the monthly
wages of the injured workman multiplied by the relevant factor or an
amount of Rs. 90,000, whichever is more. Where the monthly wages
of a workman exceed four thousand rupees, his monthly wages for
the above purposes will be deemed to be four thousand rupees only.
Administration
The State Governments administer the provisions of this Act through
the Commissioners appointed for specified areas. The State
Governments also make rules for ensuring that the provisions of the
Act are complied with.
Source : Annual Report 2006-2007, Ministry of Labour and Employment.
7 July 2007
 Academic Guidance
COMPANY LAW
INTERMEDIATE/FINAL*
I. MINISTRY OF COMPANY AFFAIRS RENAMED
The Ministry of Company Affairs has been renamed as the
Ministry of Corporate Affairs vide Presidential Notification dated
the 9th May 2007 amending the Government of India (Allocation of
Business) Rules, 1961.
II. REVISED E-FORM 32
E-Form 32 has been revised w.e.f. June 3, 2007. E-Form 32 relates
to particulars of appointment of managing director, directors, manager
and secretary and the changes among them or consent of candidate
to act as a managing director or director or manager or secretary of a
company and/ or undertaking to take and pay for qualification shares.
The revised e-Form 32 is given below:

Verification I

* Prepared by Ruchi Singhal, Education Officer under the guidance of Alka Kapoor,
Deputy Director, The ICSI.

Student Company Secretary 8 July 2007

 Academic Guidance
III. ROLE CHECK UNDER MCA-21
As a further step towards improving e-governance, an initiative of
Role Check has been taken by Ministry of Corporate Affairs. MCA
plans to implement role check at the time of filing of eforms and has
been made mandatory from July 01, 2007. Under the role check, the
system shall verify whether the signature on the e-form filed, is of an
authorised signatory of the company. Role check can be performed
only after the authorized signatories have registered their Digital
signature certificates (DSC) with MCA. This implies that at the time of
filing of e-forms, if the e-form is not digitally signed by authorised person,
then it shall not be accepted on MCA21 portal. The check shall be
performed for:
Director
Authorised Signatory (Manager/Secretary)
Practising Professional
IV. FREQUENTLY ASKED QUESTIONS (FAQs) ON DIGITAL
SIGNATURE CERTIFICATES
1. What is a Digital Signature Certificate?
Digital Signature Certificates (DSC) are the digital equivalent (that is
electronic format) of physical or paper certificates. Examples of physical
certificates are drivers licenses, passports or membership cards.
Certificates serve as proof of identity of an individual for a certain purpose;
for example, a drivers license identifies someone who can legally drive
in a particular country. Likewise, a digital certificate can be presented
electronically to prove an individuals identity, to access information or
services on the Internet or to sign certain documents digitally.
2. What is the need for a Digital Signature Certificate (DSC)?
Like physical documents are signed manually, electronic
documents, for example e-forms are required to be signed digitally
using a Digital Signature Certificate.
3. Who issues the Digital Signature Certificate?
A licensed Certifying Authority (CA) issues the digital signature
certificate. Certifying Authority (CA) means a person who has been
granted a license to issue a digital signature certificate under Section
24 of the Indian IT-Act 2000. For eg. (n) code solutions, TCS Ltd.,
NIC, IDBRT, Safescrypt Ltd., MTNL, Customs and Central Excise etc.
4. What is the cost of obtaining a Digital Signature Certificate?
The cost of obtaining a digital signature certificate may vary as
there are many entities issuing DSCs and their charges may differ.
5. Should a company obtain a Digital Signature Certificate in its
own name for efiling?
Digital Signature Certificate (DSC) is not required by Companies
but by individuals. For example the Director or the Company Secretary,
signing on behalf of the Company requires a DSC.
6. Are all directors of a company required to obtain DSC?
No. Only the directors, who will be the authorized signatories of
the company, for the e-filing purpose, are required to obtain a DSC.
7. Is Director Identification Number (DIN) a pre-requisite to apply
for DSC?
No. Director identification Number (DIN) is not a pre-requisite to
apply for Digital Signature Certificate (DSC).
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8. Which different types of Digital Signature Certificates are valid
for MCA21 program?
The different types of Digital Signature Certificates are:
Class 2: Here, the identity of a person is verified against a trusted,
pre-verified database.
Class 3: This is the highest level where the person needs to present
himself or herself in front of a Registration Authority (RA) and prove
his/ her identity.
9. How much time do CAs take to issue a DSC?
The time taken by CAs to issue a DSC may vary from three to
seven days.
10. For how long is the Digital Signature Certificate valid?
The Certifying Authorities are authorized to issue a Digital Signature
Certificate with a validity of one or two years. They are renewable on
expiry of the period of initial issue.
11. What is the legal status of a Digital Signature?
Digital Signatures are legally admissible in a Court of Law, as
provided under the provisions of IT Act. One should use only the valid
Digital Signature issued to him or her. It is illegal to use Digital
Signatures of anybody other than the one to whom it is issued.
12. Can a Digital Signature Certificate be carried to the Physical
Front Office (PFO)?
Digital Signature can be carried to the Physical Front Office (PFO)
in a portable media, namely Smart Card/ USB Drive as provided by
the Certifying Authority.
13. What is the process for affixing a Digital Signature to an e-
form?
Click the Digital Signature field in the e-form. The system will prompt
you to sign the e-form through a digital signature that is stored on your
portable media.
14. Can e-filing of documents be done if one does not possess a
DSC?
No. It is mandatory to have a valid digital signature certificate (DSC)
for e-filing the forms on the MCA portal.
15. Are multiple DSCs required for professionals rendering
services to different companies?
No. A DSC is unique to each individual. If a professional has
obtained a DSC, he/ she can use the same DSC for efiling of forms for
multiple companies provided he/ she has been authorized to do so by
the respective companies.
16. Is the Company Secretary in whole-time employment required
to obtain a DSC?
Yes. If the Company Secretary is an authorized signatory, he/ she
is required to obtain a DSC.
17. Can anybody gain possession of my digital signature?
Digital Signatures are password protected and cannot be copied
from a digitally signed document.
18. What are the safety precautions one should take while using
a Digital Signature?
You should keep the media carrying your digital signature safely
and not disclose your password to anybody.
9 July 2007
 Legal World
LEGAL WORLD
Compiled by T.K.A. Padmanabhan, FCS, Advocate, New Delhi.
CORPORATE LAWS
LW(S) 40.07.2007
UNION OF INDIA v. R.GANDHI [(2007) 76 SCL 350 (SC)],
K.G.Balakrishnan, CJ, D.K.Jain & V.S.Sirpurkar, JJ. [Decided on
18.05.2007]
Companies (Amendment) Act, 2002- Constitution of NCLT and
NCLAT- Constitutional validity- Madras High Court held them as
unconstitutional- UOI appealed to Supreme Court- Matter referred
to Constitutional Bench.
Brief Facts: The Madras High Court has held that the constitution
of National Company Law Tribunal (NCLT) and National Company
Law Appellate Tribunal (NCALT) as unconstitutional. In the appeal
filed by the Union of India the Supreme Court has referred the appeal
to the Constitutional Bench as it involves important question of law
with respect to the validity of wholesale transfer of judicial functions
to Tribunals.
Decision: Matter referred to Constitutional Bench.
Reasons: The challenge in these appeals is to the validity of the
provisions of Companies Act, 1956 as amended by the Companies
(Second Amendment) Act, 2002, which provides for setting up of
National Company Law Tribunal and National Company Law Appellate
Tribunal. Barring the jurisdiction exercised under Articles 226 and 227,
almost all jurisdictions hitherto exercised by the High Courts in regard
to the company matters would be transferred and exercised by the
proposed Tribunal and Appellate Tribunal.
Law relating to the legislative competence to establish Tribunals
has been enunciated in several judgments of this Court, including
L.Chandra Kumar v. Union of India (1997) 3 SCC 261; Union of India
v. Delhi High Court Bar Association (2007) 4 SCC 275 and State of
Karnataka v. Vishwabharathi House Building Cooperative Society (203)
2 SCC 412. It has been held that under Entries 77, 78, 95 of List I,
Entry 65 of List II and Entry 11A of List III, the Parliament and State
Legislature possess legislative competence to effect changes in the
original jurisdiction of the Supreme Court and the High Courts.
However, in none of the decisions rendered so far the question as
to what extent such powers of High Court can be transferred to
Tribunals, excepting juridical review under Articles 226/227 has not
been considered. There is as yet no demarcating line to show that,
except for powers exercised under Articles 226 and 227, the Parliament
has the legislative competence to vest intrinsic judicial functions,
traditionally performed by Courts in any Tribunal or Authority, outside
the judiciary. The question to be determined is whether such wholesale
transfer of powers as contemplated by the Companies (Second
Amendment) Act, 2002 would offend the constitutional scheme of
separation of powers and independence of judiciary, so as to
aggrandize one branch over the other. Since the issue raised in the
appeals are of seminal importance and are likely to have serious impact
on the very structure and independence of the judicial system, we are
of the view that the issue with regard to the constitution of the Tribunals
and the areas of their jurisdiction needs to be given a fresh look and
therefore, the matter deserves to be heard by the Constitution Bench.
LW(S) 41.07.2007
AAPKA BAZAR LTD. (IN LIQUIDATION), IN RE [(2007) 76 SCL 128
(Raj)]] Shiv Kumar Sharma, J. [Decided on 01.12.2006]
Companies Act, 1956- Section 633- Relief from prosecution-
Offences committed under various sections of the IPC- Whether
directors are entitled to relief Held, No.
Brief facts: The Company under liquidation was running a chain
of super markets. The applicants were directors of the company on
the date of its winding up order. The company executed around 200
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franchise agreements with various shopkeepers for setting up and
running the super markets. Some of the franchisees did not comply
with the terms and conditions of the agreement and they did not deposit
daily cash. Due to this, the rotation of the money became standstill.
The company could not maintain liquidity and failed to supply further
goods for sale. As a result, as many as 25 complaints were registered
against the company for the offences under section 420, 406 and
120B under the Indian Penal Code. After registering the cases the
police authorities seized the entire books and records from the
registered office and other branches of the company. Meanwhile the
company has been ordered to be wound up vide order dated 26.3.2006.
Since the applicants are not in a position to submit statement of affairs
under section 454 of 1956 Act, they apprehend that the Official
Liquidator may initiate legal action against them and therefore, filed
the instant application before the High Court seeking relief.
Decision: Application dismissed.
Reasons: I have given the anxious consideration to the rival
submissions and scanned the material on record. The petitioners in
the garb of petition under section 633 of 1956 Act seek anticipatory
bail. For the liability under Indian Penal Code provisions under section
633 cannot be resorted to. In Rabindra Chamaria v. Registrar of
Companies AIR 1992 SC 398, it was held that section 633 has no
application in respect of any liability under any other Act. For the
reasons aforementioned, the application being devoid of merit stands
dismissed.
LW(S) 42.07.2007
MODERN SYNTEX (INDIA) LTD., IN RE [(2007) 76 SCL 157 (Raj)]
Shiv Kumar Sharma, J. [Decided on 01.12.2006]
Companies Act, 1956- Section 391- Scheme of arrangement
with creditors- Company registered with BIFR- Pending reference
a scheme of arrangement with creditors proposed Scheme
involved excessive sacrifice from secured creditors- Whether the
scheme is oppressive to secured creditors and not to be
sanctioned- Held, Yes.
Brief facts: The petitioner company made a reference to the BIER
under the provisions of 1985 Act due to significant losses suffered by
it. During the pendency of the said reference, it prepared a scheme of
compromise for rescheduling and restructuring its existing debts and
a meeting of secured creditors, therefore, was convened accordingly.
Since, the said scheme was approved by the requisite majority of the
creditors, representing more than th in value of the total debts as
required under the Act, the petitioner filed the petition under section
391(2) seeking sanction of said scheme. The petition was, however,
opposed by many banks, one of which was claiming Rs.1, 508.14
lakh towards its outstanding principal together with interest, inter alia,
on various grounds, inter alia, that the proposed scheme involved
excessive sacrifice and was oppressive to the minority secured
creditors and, thus, not just, fair and equitable to all the secured
creditors and that since the petitioners reference was registered with
the BIFR, the Company Court ought not to exercise its discretion
towards sanctioning the scheme under section 391.
Decision: Petition dismissed.
Reasons: The BIFR had declared the petitioner as a sick industrial
company under section 3(1) (o) of the 1985 Act and appointed IFCE
as the operating agency to devise a scheme for rehabilitation of the
company. The Supreme Court, in NGEF Ltd. v. Chandra Developers
(2005) 64 SCL 1, indicated that the 1985 Act is a complete code in
itself and being a later enactment, it would prevail over the Companies
Act in case of any inconsistency in view of section 32 of that Act. The
High Court should not interfere where the matter of rehabilitation of
sick company is pending before the BIFR under the 1985 Act.
The petitioner averred that sanctioning of compromise would be
for the benefit of the company; the same would result into revival of it.
The company admitted that as many as five winding up petitions were
pending in the Court against it. Admittedly, the petitioner company got
it registered with the BIFR in the year 2000 but could not revive itself
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 Legal World
as yet. In view of the fact that five winding up petitions were pending
against it, there did not exist any chance of revival of the petitioner.
Even the petitioner did not make bonafide attempt at its revival.
Even though the Court does not have the expertise to delve into
the commercial freedom exercised by the creditors and the Court acts
like an Umpire in the game of cricket, the Court can at least command
the partys to follow the rules of the game. Since the BIFR, is the
expert body to deal with the rehabilitation of the sick company like the
petitioner, the Company Court was unable to interfere in the matter
under the power vested in the Court under section 391.
There was yet another reason to decline the relief to the petitioner.
The proposed scheme was not just, fair and equitable to all the secured
creditors. It appeared from the record that outstanding principal and
interest of the objector as in December 2005 itself was more than
Rs.1, 508.14 lakh. If objector opted for option 2, it would receive
Rs.1,104 lakhs over a seven year period. In such a situation, the
sacrifice of objector would be Rs.764.87 lakhs, i.e. 50.71 percent of
the outstanding. If the objector would opt for option 4, it would receive
Rs.276 lakhs in 2006-07. The sacrifice would be Rs.1,270.51 lakhs
that would come to 84.24 per cent of the outstanding. Such a high
sacrifice was oppressive to the objector and was unconscionable and
unreasonable even from the point of view of a prudent man.
LW(S) 43.07.2007
WESTFORT HI TECH HOSPITAL LTD. v. V.S.KRISHNAN [(2007)
76 SCL 185(Ker)], J.B.Koshy & M.N.Krishnan, JJ. [Decided on
14.11.2006]
Companies Act, 1956- Section 255- Reappointment of
directors- Retiring directors was not reelected- Whether doctrine
of legitimate expectation applicable- Held, No.
Brief Facts: The respondent and others filed a petition before the
CLB alleging oppression and suppression. The CLB passed an order
rejecting most of the allegations. The company as well as the
respondents filed separate appeals against the CLB order before the
High Court. The High Court disposed of all the appeal under a common
judgment. One of the contentions raised by the respondents (retired
directors) in their appeal, was that they were assured directorship in
the company and on their retirement they were not reappointed and
that they were entitled to reappointment on the basis of the doctrine of
Legitimate expectation. This portion of the judgment is digested here.
Decision: Doctrine of legitimate expectation has no application in
company law.
Reasons: As regards re-appointment of retired directors on the
theory of legitimate expectation, even though it was contended by the
petitioners that when they invested, they were promised that if the
professional investors would deposit rupees ten lakhs and non-
professional would deposit rupees twenty lakhs, they would be offered
directorship. The respondents categorically denied such agreement
or understanding, either written or oral. Of course, it was true that
when the company was made into a public limited company petitioner
Nos. 1 to 4 and respondent Nos.5 and 14 were inducted as directors
and then they were continuing.
The doctrine of legitimate expectation has its genesis in the field of
administrative law. The Government and its departments, in
administering the affairs of the country, are expected to honour their
statement of policy. But the same cannot be extended to company
law. Doctrine of legitimate expectation is mostly confined to the right
of a fair hearing before a decision, which results in negativing a premise,
or withdrawing of an undertaking. For getting the benefit of legitimate
expectation, there should be a clear premise or a clear and
unambiguous representation and burden of proof is on the person
who claims the benefit on the basis of legitimate expectation. This
principle, that is applicable to administrative law, is unknown in company
law, in any event; in the instant case, it was not proved nay the
petitioners that there was any promise made by the chairman that
they would continue as directors forever because of their investment.
Legitimate expectation is not the same thing as anticipation. It is
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different from mere wish or desire or hope and a mere disappointment
would not give rise to legal consequences. Even though legitimate
expectation can be used as a substantial right against the public
authorities with certain conditions yet, in the instant case, petitioners
were unable to prove that the promoters gave them any promise at all
even though they must have expected or wished a permanent berth in
the board, but, the retirement of one third directors and their re-election
is a statutory prescription and they were unable to prove that the
promoters promised that they would vote always in their favor so that
they would be re-elected. Even if the theory of legitimate expectation
is applicable in company law, the burden of promise was not discharged
by the petitioners.
For application of the doctrine of legitimate expectation, there should
be ample proof that there is reasonable basis for legitimate expectation
and it should not be against the statute. As per the statutory provisions
of sections 255 and 256 and as per the Articles of Association, one
third of directors had to retire in every annual general body meeting
and it was for the shareholders to elect. The petitioner Nos.1 to 4 and
respondent Nos.5 and 14 were retiring and their eligibility to re-election
was mentioned in the notice of general body meeting. In fact, notice of
annual general body meeting was approved in the board meeting in
which petitioner No.1 was present. All the six submitted their
nominations. In the instant case, there was full disclosure and
retirement of one-third directors and election to that place was in
accordance with the Act and Articles of Association and theory of
legitimate expectation had no application.
GENERAL LAWS
LW(S) 44.07.2007
TIME WARNER ENTERTAINMENT COMPANY, L.P.& ORS. v. RPG
NETCOM & ORS. [140(2007) DLT 758 (DB)], Dr.Mukundakam
Sharma, CJ & Sanjiv Khanna, J. [Decided on 15.5.2007]
Specific Relief Act, 1963 read with Copyright Act, 1957-
Permanent injunction- Infringement of copy right- Injunction against
broadcasting existing films and future films- Trial Court granted
injunction with respect to existing films and refused to grant
injunction with respect to future films- Whether correct- Held, Yes.
Whether passing off action under tort could be made- Held, No.
Brief Facts: The appellant had filed eight suits, under the Copyright
Act, 1957 against different defendants seeking permanent injunction.
The defendants are providing cable television services through their
associates or affiliate companies, agents, franchisees or distributors.
The appellant claimed injunction against broadcasting the films it had
made and also the future films that it may make. The Single Judge
granted injunction against the defendants for broadcasting the existing
films on their cable network but refused to grant injunction against
future productions. The appellants appealed to the Division Bench
seeking injunction against broadcasting of future films, inter alia, on
the grounds of passing off action under tort also.
Decision: Appeal dismissed
Reasons: Learned Single Judge by the impugned Order dated
30th January 2006 after referring to a Division Bench judgment of this
Court in Mirabai Films Pvt. Ltd. v. Siti Cable Network and Ors, 2003
(26) PTC 473 (Del) DB has passed an interim order restraining the
respondent defendant from telecasting/screening/exhibiting the said
cinematographic films on their network and/or from allowing feed
signals to be used by the distributors, franchisees, assignees and
cable operators for the purpose. However, it has been clarified by the
learned Single Judge that the said interim order would operate only
for the films, the list of which has been enclosed with the plaint. Learned
Single Judge specifically rejected the prayer of the appellant plaintiffs
that interim injunction order should also be passed in respect of
cinematographic films, which have not yet been produced and will be
made in future. Learned Single Judge referred to Section 18 of the
Act and held that copyright in a cinematographic film comes into
existence only after the film has been produced and cause of action
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 Legal World
for any violation in respect of the said cinematographic film would
arise only thereafter.
In view of the above provisions, it is not possible to accept the
contention of the appellant plaintiffs that they are entitled to injunction
under the law of tort. The Act itself stipulates and specifically confers
statutory rights in respect of copyright and also provides for remedies
where there is infringement of the statutory right. Section 16 of the Act
specifically bars a person from claiming copyright or any other similar
right in any work otherwise than in accordance with the provisions of
the Act itself or any other law in force. Copyright exists and can be
claimed only in accordance with the provisions of the Act or under any
law, which was in force at the time when the Act was enacted. The
appellant plaintiffs cannot claim copyright and sue for infringement of
copyright de hors the Act. Common law rights under copyright law
were abrogated earlier by Section 31 of the Copyright Act, 1911, which
was enacted to amend and consolidate the law relating to copyright.
Section 31 of the Copyright Act, 1911 reads as under :
Classically the following three requirements should be alleged and
established by a plaintiff in an action for passing off based on law of tort:
(i) Reputation and/or goodwill;
(ii) Misrepresentation by the defendant causing deception or
confusion
(iii) Resultant damages suffered.
Action of passing off is maintainable if the action of the defendant is
calculated to injure business reputation and goodwill of another trader.
This action is also maintainable if damage to reputation and goodwill is
seen as reasonable foreseeable consequence of the action of the
defendant. Passing off action can be in the form of quia timet action.
Foundation of passing off action is protection of goodwill and reputation.
It is not a remedy for invasion of the market name or get up. It is a
remedy for invasion of right to property in form of business reputation
and goodwill. Goodwill and business reputation is a proprietary right
capable of protection. Secondly, deception or deceit on the part of the
defendant is an essential ingredient for inviting action of passing off.
The objective of passing off action is to restrain a party from passing off
his goods, etc. as those belonging to another trader, viz., the one who
has reputation or goodwill. The property, which is sought to be protected,
is the business reputation and goodwill that is injured by the said
misrepresentation. Action for passing off can be initiated, where interest
of an author or owner of a copyright work in his business reputation and
goodwill is damaged by misrepresentation that falls outside the copyright
law, i.e. the Act. Passing off action will be maintainable, when the claim
is not based on infringement of copyright but damage to reputation and
goodwill of the proprietor and the said damage is caused by deceit or
misrepresentation by the defendant. In Copinger and Skone James on
Copyright, on passing off claims by authors and owners, it has been
observed that legal recourse to tort of passing off can be initiated when
no substantial reproduction of work has taken place or when reference
is only made to names or the work of the author/owner as there is no
copyright as such in a name or work.
In the present case, we need not go into this aspect in detail as in
the plaint itself, the appellants have not pleaded and have not made
out a case for passing off against the respondent-defendant. The
three essential ingredients required to make out a case for passing off
have not been set out. Without the said foundation in the plaint the
appellant-plaintiffs in the present Appeal cannot be permitted and
allowed to raise the said issue. To claim injunction on the basis of
passing off under law of tort, necessary pleading in the plaint is
incumbent. The appellant cannot be permitted to raise this question
of passing off in his oral arguments though the plaint is silent and the
contention was not raised before the Single Judge. We are therefore
not examining and going into the question whether injunction in respect
of a cinematographic film that may be produced in future can be granted
in a suit based on action of passing off under law of tort. This question/
issue is not adjudicated and decided.
Even otherwise to grant injunction in respect of a prospective or
future cinematographic films which are not in existence is fraught with
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difficulties and can lead to complication and litigation. A vague order of
injunction, which is uncertain in its application and likely to cause
confusion, should not be passed. It will be impossible for the Courts to
ensure implementation and compliance of an order, which will apply, to
properties and rights, which do not presently exist with the appellants.
In this regard, the respondent No.1 had drawn our attention to Lindley
on Entertainment, Polishing and the Arts(IInd Edition), Volume 2. It
has been stated in the said edition that most of the cinematographic
films are package operations with an independent producer assembling
the package and submitting it to a Hollywood studio for financing and
distribution. Often financing fully or partly, is obtained from different
sources and thereafter specific rights are assigned, inter se, the producer
and the studios/entertainment companies. There is also a possibility of
change in ownership when a cinematographic film is under production
but the first ownership will vest with the owner of the cinematographic
film at the time of its completion. In view of the above, we do not find
any merit in the present appeals and the same are accordingly dismissed.
LW(S) 45.07.2007
INSTITUTE OF CHARTERED FINANCIAL ANALYSTS OF INDIA v.
COUNCIL OF THE INSTITUTE OF CHARTERED ACCOUNTANTS
OF INDIA [(2007) 161 Taxman 142 (SC)], S.B.Sinha & Markandey
Katju, JJ. [Decided on 16.05.2007]
Constitution of India read with the Chartered Accountants Act,
1949- Prohibition to undergo CFA programme offered by ICFAI-
Whether reasonable restriction- Held, No.
Brief Facts: The Institute of Chartered Accountants of India (ICAI)
had prohibited its members from acquiring the qualification of Chartered
Financial Analyst (CFA) offered by the Institute of Chartered Financial
Analysts of India. (ICFAI). The Gauhati High Court upheld the
prohibition imposed by ICAI against which ICFAI appealed to the
Supreme Court.
Decision: Appeal allowed.
Reasons: The CFA programme does not give training to become
auditors or accountants or cost accountants or income tax law or direct
or indirect laws advisers, etc. Theses functions are performed and
remain in the exclusive domain of chartered accountants, cost
accountants and lawyers (though it is true that the CFA course includes
some study of accountancy).
The submission of the respondent No.1, that the object of the
impugned notification dated 3-8-1989 was to avoid conflict of interest,
suffered from a total misunderstanding of the functions of a CFA vis -
a - vis a CA. The main function of the former is to study and analyze
the financial markets and advise his clients, accordingly, whereas the
main function of a CA is to do auditing of a firms (or companys)
balance sheet and profit and loss account. These are two altogether
different functions. Of course, if a person audits a firms balance sheet
and profit and loss accounts, there may be a conflict of interest if he
also advises the same firm about its investments. An auditor is a
watchdog on behalf of the shareholders, whereas a financial adviser
advises the management. Such a possible conflict of interest can no
doubt be prohibited by law, and such prohibition would be reasonable
and in the public interest.
However, the notification dated 3-8-1989 went far beyond such a
reasonable restriction. It prohibited all CAs from joining a CFA course.
A CA can do auditing work for one firm and can be a financial adviser
for another, in which case there is no conflict of interest. It is only for
the same firm (or company) that he should not do both these. Moreover,
a CA can switch over and become exclusively a CFA.
Thus, the notification dated 3-8-1989 amounted to excessive restriction,
and it is well settled that excessive restriction which is not required in the
public interest is not reasonable and, hence, not saved by Article 19(6).
It was strange that the ICAI, renowned in its own field and with
various statutory responsibilities, would go out of its way to stop its
members, i.e. chartered accountants from enhancing their knowledge,
training and ability by acquiring a CFA qualification. Instead of
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appreciating such aspirations of chartered accountants who seek to be interpreted as broadly as possible and the fora under the CP Act
widen there know - how and horizons they were sought to be harassed have jurisdiction to entertain a complaint despite the fact that other
and termed as being guilty of professional misconduct. Surely this fora/courts would also have jurisdiction to adjudicate upon the lis.
could not be regarded as reasonable. These judgments have been cited with approval in pares 16 and 17 of
It is difficult to understand how does the term professional the judgment in Secretary, Thirumurugan Cooperative Agricultural
misconduct apply to a chartered accountants seeking additional Credit Society v. M.Lalitha, AIR 2004 SC 448. The trend of the decisions
training and qualification of CFA? The impugned notification clearly of this Court is that the jurisdiction of the consumer forum should not
and flagrantly violates the fundamental rights of the appellant under and would not be curtailed unless there is an express provision
articles 14 and 19(1) (g) of the Constitution. prohibiting the consumer forum to take up the matter, which falls within
the jurisdiction of civil court or any other forum as established under
The High Court had obviously misunderstood the difference some enactment. The Court had gone to the extent of saying that if
between the nature of functions of the Chartered Financial Analysis two different fora have jurisdiction to entertain the dispute in regard to
and the Chartered Accountants. Thousands of chartered accountants the same subject, the jurisdiction of the consumer forum would not be
who have become students and/or have qualified, as CFAs from the barred and the power of the consumer forum to adjudicate upon the
Institute of Chartered Financial Analysts of India could not have done dispute could not be negated.
so if the CFA programme did not offer training and education that was
not available in the CA programme. Their involvement in such large A bare perusal of the provisions of clauses (a) to (g) of Section
numbers is in itself the testament to the CFA qualification. 75(1) clearly shows that it does not include claim for damages for
medical negligence, like the present case, which we are dealing with.
In view of the above, the appeal is allowed. The impugned judgment Although the question does not directly arise before us, we shall
of the High Court is set aside and the notification dated 3-8-1989 issued consider what in the ordinary course shall constitute negligence.
by ICAI is quashed.
Having considered all these aspects, we are of the view that the
CONSUMER LAW appellant is a consumer within the ambit of Section 2(1) (d) of the
Consumer Protection Act, 1986 and the medical service rendered in
LW(S) 46.07.2007 the ESI hospital/dispensary by the respondent Corporation falls within
the ambit of Section 2(1) (o) of the Consumer Protection Act, and,
KISHORE LAL v. CHAIRMAN, EMPLOYEES' STATE therefore, the consumer forum has jurisdiction to adjudicate upon the
INSURANCE CORPORATION [JT 2007(6) SC 541], B.N.Agrawal, case of the appellant. We further hold that the jurisdiction of the
P.P.Naolekar & Dalveer Bhandari, JJ [Decided on 08.05.2007] Consumer forum is not ousted by virtue of sub section (1) or (2) or (3)
Consumer Protection Act, 1986 Employees' State Insurance of Section 75 of the Employees State insurance Act, 1948.
Act, 1948 - Medical services- Services rendered by ESI hospital-
Wrong diagnosis by ESI hospital- Claim for deficiency in services
filed before district forum- Whether jurisdiction of consumer fora
excluded ESI hospitals- Held, No
Brief Facts: The appellant, an industrial employee contributing to
ESI fund, was treated in ESI hospital. Due to negligent diagnosis at
the hospital her health deteriorated and she was shifted to a private
hospital. The appellant filed a complaint before the district forum
seeking compensation from the ESI hospital. District forum dismissed
the complaint on the ground that medical service provided by the ESI
hospital was gratuitous in nature. State commission as well as the
national Commission upheld the decision of the district forum. The
appellant appealed to the Supreme Court.
Decision: Appeal allowed.
Reasons: The service rendered by the medical practitioners of
hospitals/nursing homes run by the ESI Corporation cannot be regarded
as a service rendered free of charge. The person availing of such service
under an insurance scheme of medical care, where under the charges
for consultation, diagnosis and medical treatment are borne by the
insurer, such service would fall within the ambit of service as defined in
Section 2(1)(o) of the CP Act. We are of the opinion that the service
provided by the ESI hospital/dispensary falls within the ambit of service
as defined in Section2 (1)(o) of the CP Act. ESI scheme is an insurance
scheme and it contributes for the service rendered by the ESI hospital/
dispensaries, of medical care in its hospitals/dispensaries, and as such
service given in the ESI hospitals/dispensaries to a member of the
scheme or his family cannot be treated as gratuitous.
It has been held in numerous cases of this Court that the jurisdiction
of a consumer forum has to be construed liberally so as to bring many
cases under it for their speedy disposal. In the case of M/s. Spring
Meadows Hospital and Another v. Harjot Ahluwalia and Another, JT
1998(2) SC 620, it was held that the CP Act creates a frame work for
speedy disposal of consumer disputes and an attempt has been made
to remove the existing evils of the ordinary court system. The Act
being a beneficial legislation should receive a liberal construction. In
State of Karnataka v. Vishwabarathi House Building Co-op. Society,
AIR 2003 SC 1043 the Court speaking on the jurisdiction of the
consumer fora held that the provisions of the said Act are required to

Student Company Secretary 13 July 2007

 Student Services
STUDENT SERVICES
REGISTRATION AND POSTAL TUITION
1. Cancellation of Registration
Registration of students registered upto and including August, 2002
stands terminated on expiry of five-year period on 31st July, 2007
leading to the following immediate consequences :
(a) Supply of Student Company Secretary bulletin will be
discontinued from August, 2007 onwards.
(b) Response sheets will not be accepted even if submitted and
coaching completion certificates will not be issued (after the
expiry of registration period)
(c) They are not eligible to appear in the examination to be held
in December, 2007.
(d) They are advised to apply for registration de novo/extension
of registration as per the guidelines published in this bulletin.
2. Change of Address
Change of address, if any, should be intimated to the Institute by
sending a separate letter in this regard. While intimating the change in
their mailing address, the students are advised to invariably quote the
PIN CODE number alongwith the student registration number, name
and full postal address with city, state in capital letters.
PIN CODE is required to be mentioned for quick delivery of the
mail. Students may, therefore, check up the computerised mailing
address as printed on the Student Company Secretary bulletin. In
case, it does not carry or carry the wrong PIN CODE number, the
same may be intimated immediately quoting student registration
number and full postal address with Postal Index Number so that it
could be incorporated in the computerised mailing list.
3. E-mail Address Of The Students
Those students who are having e-mail address may communicate
the same to the Students Services Section at dss@icsi.edu which
will facilitate quick and economic communication from the Institutes
side. The e-mail address may be sent in the following format.
Name : any two groups of the Final examination to be held in December,
Registration No. :
E-mail Address : as laid down in the regulations.
4. Students Identity Card
All the students appearing in the examination must hold Identity
Card in the manner prescribed by the Institute, if not already obtained
at the time of seeking registration. For obtaining the Identity Card,
students are advised to obtain a proforma from the Headquarters/
Regional Offices of the Institute and send it again to the Institute duly
filled up and attested as per instructions given in the prospectus/
registration letter.
Students who have so far not obtained Identity Cards are advised to
write to the Institute immediately. The students should carry their Identity
Cards without fail for appearing in the Institutes examination. If the
Identity Card already issued has been lost or mutilated, student should
send a request for obtaining duplicate Identity Card together with the
mutilated Identity Card/Identity Card proforma duly filled in and attested
together with Rs. 50/- towards duplicate Identity Card fee.
5. Uniformity in Signatures
It has been observed that some of the enrollment applications /
letters received from the students are either unsigned or bear different
signatures from time to time.
All the students are, therefore, advised to maintain uniformity in
their signatures on all the correspondence with the Institute including
Student Company Secretary
students identity card, enrollment application and attendance sheet
provided in the examination hall at the time of writing examinations.
6. Compulsory Enrolment for Final Course
Students who have passed/completed both groups of Intermediate
examination are advised to seek compulsory enrolment for undergoing
coaching for the Final course on payment of Rs.4200/- towards postal
tuition fee.
Please note that a student is admitted to the final examination only
after a minimum period of nine calendar months has elapsed since
his/her passing the Intermediate examination and subject to completion
of coaching and fulfillment of other requirements.
7. Company Secretaries Examination December, 2007.
I. Examination Fee:
Foundation : Rs.875 (Lumpsum)
Intermediate : Rs.900 (Per group)
Final : Rs.750 (Per group)
Students seeking paperwise exemption for the first time (on
qualification basis) are required to remit the exemption fee @ Rs.100
per subject in addition to the examination fee on or before the last
date.
II. Eligibility for appearing in the Intermediate
Examination :
In terms of regulation 33 of the Company Secretaries Regulations,
1982, students registered upto and including February, 2007 are eligible
to appear in both groups of the Intermediate examination to be held in
December, 2007 subject to completion of coaching and Computer
Training and fulfilment of other conditions as laid down in the
regulations. However, candidates registered as students upto and
including the month May, 2007 are eligible for appearing in any one
group in December, 2007 session ( i.e. either in Group-I or Group-II)
subject to fulfilment of other conditions as laid down in the regulations.
III. Eligibility for appearing in the Final Examination :
In terms of regulation 43 of Company Secretaries Regulations,
1982, students who have passed/completed both groups of the
Intermediate examination upto and including December, 2006 are
eligible to appear in all the three groups or in combination thereof in
2007, subject to completion of coaching and fulfilling other conditions
IV. Last date for receipt of enrolment applications
The last date for receipt of applications for enrolment to the
December, 2007 examination, complete in all respects, together with
the requisite examination fee in the Institute, is 25th September, 2007.
However, enrolment applications accompanied with late fee of Rs.
100/-, if received in the Institute after the closing date, but on or before
10 th October, 2007 will be entertained.
Students who could not be enrolled in the earlier examination owing
to late receipt of enrolment application, cancellation of registration
etc. and whose examination fee was kept at credit, are advised to
send fresh enrolment applications requesting therein for the adjustment
of amount at their credit together with the balance of examination fee,
if any. Formal application along with the original letter issued by the
institute showing credit amount, must reach the Institute on or before
the closing date as otherwise such students shall not be enrolled for
appearing in December, 2007 examination.
No other remittance/letter/query should be clubbed with the
enrolment application/examination fee.
8. Clarification regarding Paperwise Exemption
(a) The paperwise exemption is granted only on the basis of specific
request received in writing from a registered student along with
the attested photocopies of marks sheets for all parts of the De-
gree/examination (on the basis of which the paperwise exemp-
tion is sought) and the exemption fee @ Rs. 100/- per paper. It is
14 July 2007
 Student Services
one time payment and not to be remitted for availing of paper
wise exemption in every session of examination during the valid-
ity of registration period.
(b) The application for claiming paperwise exemption must reach
the Institute on or before the last date for submission of enrolment
application i.e. 25th March and 25th September for June and
December examinations respectively and with a late fee of Rs.
100/-, the application can be accepted upto 9th April and 10th
October respectively.
(c) The paperwise exemption once granted holds good during the
validity of registration period or passing/completing the
examination, whichever is earlier.
(d) The paperwise exemption is cancelled only on receipt of a specific
request in writing from the student concerned on or before the
last date for submission of the enrolment application. If any
candidate appears in the exempted paper(s) of examination
without receiving the written confirmation from the Institute, but
by making personal representation, appeal, request, etc., at the
Examination Centre at the last moment, his/her appearance in
such paper(s) shall automatically be treated as cancelled.
(e) It may be noted that candidates who apply for grant of paper wise
exemption or seek cancellation of paper wise exemption already
granted, before the last date of submission of enrolment
applications for a particular examination, must see and ensure
that they receive written confirmation from the Institute at least
15-20 days prior to the commencement of the examination.
Candidates who would presume automatic grant or cancellation
of paper wise exemption without obtaining written confirmation
on time and absent themselves in any paper(s) of examination
and/or appear in the exempted paper(s) would do so at their
own risk and responsibility and the matter will be dealt with as
per the above guidelines.
(f) Exemption once cancelled on request in writing shall not be
granted again under any circumstances.
(g) The candidates who have passed either group of the Intermediate/
Final examination under the old syllabus, may claim the paperwise
exemption in the corresponding subject(s) of new syllabus
indicating the basis of exemption as APO in the appropriate
column of the enrolment application.
(h) In case the paperwise exemption has already been granted on
the basis of qualification or the candidates is eligible for grant of
exemption on the basis of securing 60% or more marks, a
photocopy of the letter/marks-sheet issued by the Institute should
be enclosed with the enrolment application while claiming such
exemption, failing which the same may not be granted for the
ensuing examination.
(i) No exemption fee is payable for availing paperwise exemption on
the basis of APO or on the basis of securing 60% or more
marks in the Institutes examination.
(j) Paperwise exemption fee is payable only when the exemption is
to be availed on the basis of qualification(s) specified for the
purpose.
9. Exemption from Computer Training
A student can be exempted from undergoing the course on the
basis of his existing qualification / degree in the computer field and
qualifies the need of Course Contents Syllabus as scheduled by
NIIT for C.S. Students, subject to the condition that he or she enrolls
himself / 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.
10. Completion of Coaching and Filling up of
Examination Forms
At times queries are received by the Institute from the students
Student Company Secretary
with regard to filling up of examination forms for want of issue of
coaching completion certificate. It is clarified that students (i) who
are undergoing oral coaching, and (ii) students who have submitted
or re-submitted their response sheets and/or would be submitting or
re-submitting the response sheets within the stipulated period, are
eligible to fill up the examination forms for the respective session of
examination Such students need not withhold the submission of
their examination forms for want of coaching completion certificates.
The students concerned are advised to make a note in the application
form to the effect that they are undergoing oral coaching/have
submitted response sheets and are awaiting coaching completion
certificates. Since there cannot be any change with regard to the
closing date for submission of examination forms, students need
not wait for the issue of coaching completion certificates for filling up
their examination forms. They are advised to mention against the
appropriate column in the enrolment application form that coaching
completion certificates are being awaited.
Students who were issued with limited permission letters, for
appearing in June, 2007 examination, are advised to submit the
deficient response sheets immediately as such students, if failed,
will not be allowed to appear in December, 2007 examination,
unless they are issued with the regular coaching completion
certificate(s) for the group(s) for which limited permission letter was
issued.
Students who secure 35% or more marks in aggregate and 30%
marks in individual paper in a group in June, 2007 examination, are
advised to submit photocopy of the marks sheet for the issue of
Coaching Completion Certificate, if eligible.
11. Important
While making any correspondence regarding examination, the
students are advised to quote the following particulars for taking
prompt action :
i) Name in full (ii) Student Registration number (iii) Stage of ex-
amination (Intermediate/Final) (iv) Group opted (v) Centre opted
(vi) Particulars of fee remitted, i.e. Demand Draft (printed)
number, date, amount, name of the bank and its branch (vii)
Date and mode of despatch of enrolment application and their
complete address with PIN code, telephone number, mobile
number or e-mail address.
In case of any specific problem/complaint regarding registration,
post-registration, students services and postal/oral coaching,
students may contact personally or write to Sohan Lal, Joint Director
and for academic guidance and suggestions, if any, students may
write to V K Aggarwal, Principal Director, at the Institutes address.
CLARIFICATION REGARDING HINDI MEDIUM
Queries are often being received by the Institute with regard to the
option of medium for pursuing the Company Secretaryship Course.
It is clarified that the students may opt for pursuing the course
in English/Hindi medium. However, the study material at present is
available in English medium only. In any case, the students can
enjoy the facility of submitting their response sheets to the test
papers under the Postal Tuition Scheme in English or Hindi medium.
Similarly, they can opt to write the Institutes main examination in
English or Hindi Medium.
As regards writing of examination, the option is to be exercised
while filling up the examination form as and when the students intend
to appear in the examination. This option is to be exercised on group
wise basis and not on individual paperwise basis. Answering to test
papers and writing examination partly in English and partly in Hindi
medium is not permissible.
15 July 2007
 Student Services

EMPANELMENT OF PRIVATE COACHING CENTRES FOR CONDUCTING ORAL

COACHING CLASSES FOR CS STUDENTS ON BEHALF OF THE INSTITUTE
In a path-breaking initiative, the Council of The Institute of Company Secretaries of India has decided to empanel Private Coaching
Centres for conducting the Oral Coaching Classes for the students undergoing CS Course on behalf of the Institute. At present, the
Institute is conducting the Oral Coaching Classes on its own through its Regional Councils/ Chapters/ Satellite Chapters.
This landmark decision will undoubtedly have a far reaching impact on the entire Oral Coaching System under the Company
Secretaryship Course and it provides a golden opportunity to reputed Coaching Centres in the private sector to get associated with one
of the premier professional institutes in India constituted under Company Secretaries Act, 1980, functioning under the administrative
jurisdiction of Ministry of Company Affairs, Government of India.
The Institute invites applications from interested institutions for conducting Oral Coaching Classes for CS Students under the
aforesaid Scheme. The Regional Councils/ Chapters/ Satellite Chapters of the Institute scattered all over India have been authorized to
scrutinize and forward the applications to Headquarters after preliminary assessment of infrastructure, etc. in the respective areas along
with their recommendations. For format of application, comprehensive guidelines and modus operandi of the Scheme, please visit the
Institutes website www.icsi.edu OR send an application directly to:-
Shri Sohan Lal, Joint Director
The Institute of Company Secretaries of India
ICSI House
22, Institutional Area , Lodi Road,
New Delhi 110 003

LIST OF THE INSTITUTES IMPARTING ORAL COACHING

FACILITIES TO THE CS STUDENTS APPEARING IN In our endeavour to provide prompt and efficient services to the
FOUNDATION, INTERMEDIATE AND FINAL EXAMINATIONS student community, the overall status of all the registered students
UNDER PUBLIC/PRIVATE PARTNERSHIP SCHEME of the Institute has been uploaded to the website of the Institute
viz. www.icsi.edu. The information can be accessed as under:
S. Name & Address of Validity for CS Session
No. Empanelled Institutions of Examination
F Visit the Home Page
F Click on the tab 'Overall Status' under the
EASTERN INDIA REGIONAL COUNCIL Group 'Students'
F Enter Full Registration Number
1. Institute for Inspiration & Self December07 & June08
F Press Tab Key
Development Session of CS
F Wait for the name to appear on the adjacent
1-B-200/1, Sector-III, Examinations.
field
Salt Lake City F Click on the tab 'Go'
Kolkata-700 016
The students may verify the particulars contained therein viz.
WESTERN INDIA REGIONAL COUNCIL
Student's Name, Father's Name, Date of Birth, Qualification, Paper-
wise Exemption (if any), Complete Postal Address with City, State
2. Career Classes December07 & June08
and Pin Code, Postal/Oral Coaching Status, etc. In case, they
303, Shalimar Corporate Center Session of CS come across any discrepancy and/or need any clarification/
8, South Tukoganj Near Hotel Examinations. additional information/service, a written request may be sent to
Balwas Indore (M.P) us by E-Mail as per the details given below:
3. Institute of Management December07 & June08 1. Query regarding Registration Status/
Issue of Study Material, etc. for
Training & Research Session of CS
(a) Intermediate Course ss_reg@icsi.edu
Artha Complex, 2nd Floor Examinations.
(b) Foundation Course ss_fond@icsi.edu
Near IMA House and Tapdiya (c) De-novo/Extension/Final Enrollment ss_post@icsi.edu
Terrace, Off. Adalat Road 2. Query regarding non-receipt of ss_misc@icsi.edu
Aurangabad-431 001 (M.S) Registration Letter/ldentity Card/
SOUTHERN INDIA REGIONAL COUNCIL Student Company Secretary Bulietin/
CS Foundation Course Bulletin, etc.
4. Mohans Institute of Company December07 & June08 3. Query regarding paperwise exemption ss_enrol@icsi.edu
4. Query regarding Coaching ss_coaching@icsi.edu
Secretaries, Sreyas, Session of CS
Completion Certificate/Suggested
Chettiparambil Lane Examinations Answers and Response Sheet status
Thekkumbhagam Tripunithura 5. Query regarding issue of Admission dss@icsi.edu
Ernakulam (Distt.) Kerala-682301 Certificate/Roll No. for Examinations, etc.

Student Company Secretary 16 July 2007

 Student Services
VACANCY
MANAGEMENT TRAINEES
15 MONTHS
A leading NSE Member, NSDL depository and Management
Consultancy Company is seeking to recruit management
trainees & will be offered attractive stipend. The Company holds
the leading position in its market with a national and
multinational client base with offices across India.
The selected candidates will be provided exposure in mergers,
due diligence, foreign collaboration agreements, FEMA, SICA,
Patents Laws, Corporate laws, Holding of Meetings,
Preparation of Minutes, Capital
Market and SEBI/NSE issues, Share Transfer etc.
Transfer cases can also be considered.
INMACS LTD
503-504, Chiranjiv Tower
43, Nehru Place
New Delhi-110019
Ph : 26223712/26226933
Interested Candidates may kindly fax/send resumes to
Shri. Ashok Vohra
Contact No. 9911433564, Fax : 26223014
Email : legal@inmacsindia or inmacs.legal@gmail.com
ATTENTION STUDENTS!
Applicability of Latest Finance Act and other changes for
Company Secretaries December 2007 Examination.
DIRECT TAXES
All students may note that for the December 2007 Examination
session, in respect of Direct Taxes, the applicable Assessment
Year shall be 2007-08 (Previous year 2006-07).
Thus, they will have to study Finance Act, 2006 for December
2007 examination. Further, as per the syllabus, students are
required to update themselves about all the Circulars,
Clarifications, Notifications issued by CBDT & Central Government,
which come in to effect on or before 6 months prior to the date of
the respective Examination.
Gift Tax Act has been excluded from the scope of examination
from December 1999 session onwards unless otherwise informed.
INDIRECT TAXES
Students appearing in the Tax Laws (Indirect Tax portion to the
extent of topics covered in the syllabus) and Direct and Indirect
Taxation-Law and Practice (Indirect tax portion) paper of the
Intermediate and Final Courses respectively may take note of the
following changes applicable for December 2007 Examination:
1. All changes made by the Finance Act, 2006.
2. All Circulars, Clarifications/Notifications issued by CBE&C/
Central Government which became effective six months prior
to the date of examination.
Student Company Secretary
ATTENTION STUDENTS
INTENDING TO APPEAR IN COMPANY SECRETARIES
EXAMINATION DECEMBER, 2007
1. Last Date for submission of Response 31-08-2007
Sheets
2. (a) Last date for receipt of Examination 25.09.2007
applications in the Institute
(b) With a late fee of Rs. 100 10.10.2007
3. Examination Fees
i. Foundation Rs.875 (Lumpsum)
ii. Intermediate Rs.900 (Per group)
iii. Final Rs.750 (Per group)
4. Last date for seeking paperwise 25.09.2007
exemption
5. Last date for seeking extension 25.09.2007
of registration/registration de-novo
Notes :
I. Examination fee is payable on groupwise and not on
paperwise basis for intermediate/Final examinations.
II. All students appearing in the Intermediate examination
are required to complete successfully the Computer
Training before filling up the examination form EXA
III. The students who have submitted/ would be submitting
all the response sheets within the stipulated time, may
submit their enrolment applications for appearing in the
examination pending issue/receipt of the coaching
completion certificates. But coaching completion
certificate would be issued only when they have
successfully completed the coaching for the group(s)
concerned.
IV. Please note that unsigned, incomplete and applications
not filled in their own handwriting by the students will
not be accepted.
V. No change of group(s) will be allowed after submission
of the enrolment application.
VI. No request for change of medium for writing the
examination will be entertained after submission of the
enrolment application.
VII. No cutting and over writing is to be done in the
examination form.
VIII. No request for grant/cancellation of paperwise
exemption shall be entertained after the last date i.e.
25 th March/25 th September for June/December
examination respectively.
IX. No request/correspondence for withdrawal of
application from appearing in the examination or
adjustment of amount for the next examination shall
be entertained after submission of the examination
form under any circumstances .
Students are, therefore, once again advised to fill in the
enrolment applications/examination forms EXA carefully to avoid
last moment problem for themselves as well as for the Institute.
X. Mode of Payment : Students who intend to pay the fees
by demand draft may please ensure that it should be
crossed and drawn in favour of The Institute of
Company Secretaries of India, payable at New Delhi.
XI. Students Identity Card : All the candidates appearing
in the Company Secretaries Examination are advised
to timely complete necessary formalities for obtaining
their identity cards duly countersigned by the issuing
authority of the Institute as per instructions published in
the prospectus Career in Company Secretaryship
A Handbook.
17 July 2007
 Student Services
ATTENTION ALL STUDENTS APPEARING IN THE CS INTERMEDIATE EXAMINATIONS
FROM DECEMBER, 2007 SESSION ONWARDS
COMPULSORY COMPUTER TRAINING SCHEME
In the Company Secretaries Regulations, 1982, for regulation 40, the following regulation shall be substituted, as published in the Gazette of India(Extra
Ordinary) vide Notification No. ICSI/710/1(M)/1 dated 3rd May, 2006.
40 Admission to the Intermediate Examinations -
No candidate shall be admitted to the Intermediate examination unless he/she :-
- (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; and
- (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 from;
- (c) applies with such examination fee as may be determined by the council from time to time so as to reach the Secretary, in accordance with the
directions given by the Council.
In terms of the aforesaid amendment in the Company Secretaries Regulations, 1982, all students are required to successfully undergo a Compulsory
Computer Training Programme for becoming eligible for appearing in the CS Intermediate Examinations from June, 2007 examinations onwards.
The Institute, in compliance of the aforesaid amendments, 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. To undergo this course, a student/member has to approach any NIIT Centre on
all India basis. To take admission, 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.
The list of NIIT Centres including detailed course contents, module details and topic-wise time duration etc. have been published on the website of the
ICSI i.e. www.icsi.edu under FAQ.
Salient features of the course in brief : -
Title of the Course Understanding Information Technology in Corporate Environment.
Duration of the Course 70 Hours
Fee Rs.3000 per participant for General Category & Rs.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
Students having exposure to computer during their education or have undergone similar course, may apply for on-line exemption to NIIT at the nearest
center available to them and successfully clears the test.
Students placed at far reaching places and are not having NIIT center nearest to their place may, however, undergo the computer course of at least 3
months duration - with maximum coverage of the ICSI-NIIT course contents - from any computer training Institute and then enroll for on-line exemption test
at any of the NIIT Center on all India basis and successfully clears the test.
A fee of Rs. 450 plus Service Tax etc. per student is payable for online exemption test (to be conducted by NIIT) which is applicable for a maximum of
TWO attempts within a period of one month.
Computer Training will be compulsory and pre-requisite for all the students intending to appear in the Intermediate Examination from December, 2007
session onwards. No student will be allowed to appear at the Examination to be held from December, 2007 session onwards unless he/ she successfully
completes the Computer Training.
The students who would be declared passed in June 2007 session of Intermediate examination but have not completed the compulsory computer training,
are also required to successfully undergo the computer training for becoming eligible for appearing in the final stage of CS examination.

ATTENTION STUDENTS
REVISED STUDY MATERIAL
Students may note that 2007 series of Company Secretarial
Practice for Intermediate - Group II (Revised upto March 2007)
is available.
The procedures, forms, checklist etc. covered in the
aforesaid study material have been revised keeping in
view the changes necessitated by virtue of introduction
of the concept of MCA-21 and e-forms. Students are
advised to read the latest study material and keep
themselves updated with latest amendments/changes.
Information in this regard is also appearing on the website
of the Institute.
ATTENTION STUDENTS!
TRAINING
It has been observed that the students opting for undergoing 15
months training with Company Secretaries in whole-time Practice are
submitting the Contract of Apprenticeship and other relevant
documents and registration fees to the Institute after a considerable
period of time. As per the Training Guidelines, the students should
submit the underlisted documents within 15 days from the
commencement of training to enable the institute to take their
training on record with effect from the date of execution of Contract.
(i) Contract of Apprenticeship in duplicate on a non-judicial stamp
paper of requisite value as applicable to the particular State, where
the contract is executed. The Contract should be executed by
both the parties viz., the trainee and the Company Secretary in
whole-time Practice. (ii) Statement of Particulars to be submitted
in duplicate for registration as a trainee (Part A & B). (iii) Rs. 50/-
being the Registration Fee.
If the aforesaid documents/information is not received within
the stipulated time, the training shall not be taken on record.

Student Company Secretary 20 July 2007

 Student Services
EXAMINATION
1. DECLARATION OF JUNE, 2007 EXAMINATION RESULTS
Results of the Foundation, Intermediate and Final examinations of
the company secretaries held from 2nd to 10th June, 2007 are scheduled
to be declared at 4.00 P.M. on 25th August, 2007. As in the past, the
results will be displayed simultaneously on the Notice Boards at the
Institutes Headquarters, Offices of the Regional Councils, Chapters
and Satellite Chapters, and Examination Centres. The results along
with break-up of marks will be made available on Institutes Website:
www.icsi.edu on 25th August, 2007 after 4.00 P.M. for information of
all concerned. The result-cum-marks statements will be despatched
to all candidates latest by 5th September, 2007. Meanwhile, if there
happens to be change in the mailing address of any candidate, he/
she should immediately intimate the same to the Institute and also
send a self-addressed envelope of 23 cms. x 11 cms. size for posting
his/her result-cum-marks statement at the changed address.
Any candidate not receiving his/her result-cum-marks statement by
14th September, 2007 should immediately write to the Sr. Director (Exams.)
for issuing duplicate marks statement giving relevant particulars, i.e., his/
her name, student registration number, stage of examination and group(s)
in which he/she appeared, roll number, examination centre, along with a
self-addressed stamped envelope worth Rs.5.
2. VERIFICATION OF MARKS
In terms of regulation 46 (2) of The Company Secretaries
Regulations, 1982, as in force, a candidate can seek verification of
marks in any subject(s) of June, 2007 examination within one month
from the date of declaration of results. The application for verification
of marks should be made on a plain paper, preferably in candidates
own handwriting together with a requisite fee @ Rs.100/- per subject
within 30 days from the date of declaration of results, i.e., upto 25th
September, 2007. Candidates are advised not to club any other
remittance or query along with request for verification of marks
to facilitate an early reply.
After completion of verification process, candidates are
communicated outcome of the verification of marks, normally within
2 - 3 weeks time. However, if any candidate does not receive a
communication from the Institute by 20th October, 2007, he/she should
write to the Sr. Director (Exams.) giving relevant details (i) his/her
name; (ii) student registration number; (iii) stage of examination and
roll number; (iv) name of the subject(s) in which verification of marks
was sought; (v) date of application and mode of its despatch; (vi)
amount of verification fee remitted and details with regard to mode of
remittance; and (vii) complete postal address along with PIN Code.
3. DECEMBER, 2007 EXAMINATION
Next examinations for the Foundation Course, Intermediate and
Final, scheduled in December, 2007, will be held from Wednesday,
the 26th December, 2007 to Thursday, the 3rd January, 2008, as per
the Time-Table and Programme published on the last cover page of
this issue. The last date for receipt of enrolment applications for
December, 2007 examinations in the Institute together with the requisite
examination fee is 25th September, 2007 and with late fee of Rs.100/
- upto 10th October, 2007.
IMPORTANT: Candidates should note that non-receipt/delayed
receipt of result-cum-marks statement, response to result queries,
requests for verification of marks, etc., will not be accepted as
valid and sufficient reason for seeking any relaxation or not
complying with the requirements of regulations and/or last dates
for submission of enrolment applications for the next
examinations. Therefore, the candidates in their own interest
are timely advised to keep track of important announcements,
last dates and observe the time schedule.
Student Company Secretary
ATTENTION STUDENTS APPEARED IN JUNE,
2007 EXAMINATIONS
The Institute awards Merit Scholarships and Merit-cum-
Means Assistance to students for pursuing Intermediate and
Final Courses based on their meritorious performance in the
examinations and/or merit-cum-need basis on their passing
Foundation and Intermediate examinations respectively, as
per the criteria stipulated under the Merit Scholarship
(Company Secretaryship Course) Scheme, 1983 and Merit-
cum-Means Assistance (Company Secretaryship Course
Scheme), 1983.
MERIT SCHOLARSHIP
In pursuance of para 7 of the Merit Scholarships (Company
Secretaryship Course) Scheme, 1983, 15 numbers of
Scholarships are awarded each for Intermediate and Final
examinations per session only to registered students, purely
in order of merit, from amongst the candidates who appeared
and passed all the subjects of Foundation and Intermediate
examination respectively, at first attempt, in one sitting, without
claiming exemption in any subject, on all-India basis and
subject to fulfilling other conditions as stipulated in the said
scheme.
Accordingly, students who pass the Foundation examination,
June, 2007 are required to get themselves registered with the
Institute for pursuing Intermediate Course within 3 months from
the date of declaration of results to become eligible for award of
Scholarship.
MERIT-CUM-MEANS ASSISTANCE
In pursuance of para 8 of the "Merit-cum-Means Assistance
(Company Secretaryship Course) Scheme, 1983, 15 numbers
of Financial Assistance are awarded each for Intermediate and
Final examinations per session only to registered students.
According to the scheme, a candidate has to apply in the
prescribed form obtainable from the Institute, which can also be
downloaded from the Institutes website www.icsi.edu, and submit
his/her application within the specified date as notified from time
to time. Any candidate applying for Financial Assistance should
have passed the Foundation/Both Groups of Intermediate
examination, at first attempt, in one sitting, without claiming
exemption in any subject. If the candidate is employed or having
an independent source of income, his/her income should not be
more than Rs.1,50,000/- per annum and if he/she is dependent
on his/her parents/guardian/spouse, then the combined income
from all sources should not be more than Rs.2,50,000/- per annum
and also subject to fulfilling other terms and conditions as
stipulated in the said scheme.
Students who pass the Foundation examination, June, 2007
must get themselves registered with the Institute for pursuing
Intermediate Course within 3 months from the date of declaration
of results to become eligible for award of this Financial
Assistance.
A separate notification inviting applications for award of Merit-
cum-Means Assistance will be published in the March/April and
September/October issue of C.S. Foundation Course Bulletin
and Student Company Secretary Bulletin.
21 July 2007
 Student Services
COMPANY SECRETARIES EXAMINATIONS - DECEMBER, 2006

ALL INDIA PRIZE AWARDS

Sl. Name of the Criteria Name & Address Qualification Occupation Age Marks Photo-
No. Prize Award of the Winner (Yrs.) Obtained graph

1. PRESIDENTS Awarded to a candidate who Anand R B.Com 27 547/900

GOLD MEDAL passes in all papers of the 4-69, Richard Street M.Com (60.78%)
Final examination, at first N G G O Colony
attempt, in one sitting, without COIMBATORE 641 022.
claiming exemption in any (Roll No.44903
subject and obtaining the Regn. No.SR0317282)
highest marks in the
aggregate taking into account
the performance of all successful
candidates provided that the
aggregate is not less than 55%.
2. C.C. SUTARIAS Awarded to a candidate who Anand R B.Com 27 547/900
CASH AWARD passes in all papers of the 4-69, Richard Street M.Com (60.78%)
Final examination, at first N G G O Colony
attempt, in one sitting, without COIMBATORE 641 022.
claiming exemption in any (Roll No.44903
subject and obtaining the highest Regn. No.SR0317282)
marks in the aggregate taking
into account the performance
of all successful candidates.
3. JAYPEE Awarded to a candidate who Shairill Malik (Ms.) Foundation 23 196/300
GROUP PRIZE passes in all papers of GroupI HIG R-3, E/6, Arera Colony Course (65.33%)
AWARD of the Final examination, at BHOPAL 462 016 ICSI
first attempt, in one sitting, M.P. B.Com
without claiming exemption in (Roll No.50431
any subject included in that Regn. No.WR0312746)
Group and obtaining the highest
marks in the aggregate taking
into account the performance
of all such successful candidates.
4. JAYPEE Awarded to a candidate who Saurabh Vinay Chitale Foundation 22 199/300
GROUP PRIZE passes in all papers of GroupII 2081/82, Waman Smruti Course of (66.33%)
AWARD of the Final examination, at Apts. Vijaya Nagar Colony ICSI
first attempt, in one sitting, Sadashiv Peth
without claiming exemption in PUNE 411 030.
any subject included in that (Roll No.53728
Group and obtaining the highest Regn. No.WR0377332)
marks in the aggregate taking
into account the performance of
all such successful candidates.
5. JAYPEE Awarded to a candidate who Shradha Shah (Ms.) B. Com 26 192/300
GROUP PRIZE passes in all papers of GroupIII 262-A, Block-A (Hons.) (64.00%)
AWARD of the Final examination, Bangur Avenue
at first attempt, in one sitting, KOLKATA 700 055.
without claiming exemption in (Roll No.30637
any subject included in that Regn. No.ER0180831)
Group and obtaining the
highest marks in the aggregate
taking into account the
performance of all such
successful candidates.

Student Company Secretary 22 July 2007

 Student Services
6. RAI BAHADUR Awarded to a candidate who Rohit Biyani Foundation 21 546/900
SETH GUJA- passes in all papers of the 209, Bagmari Road Course of (60.67%)
RMAL MODI Final examination, at first C I T Scheme 7 M ICSI
MEMORIAL attempt, in one sitting, without Kankurgachi
AWARD claiming exemption in any subject KOLKATA 700 054.
and obtaining the second (Roll No.30730
highest marks in the aggregate Regn. No.ER0214570)
taking into account the
performance of all successful
candidates.
7. SARASWATI Awarded to a lady candidate Co-Winners :
DHANUKA who passes in all papers of the 1. Aditi Agarwal (Ms.) Foundation 22 537/900
MEMORIAL Final examination, at first 67, Bidhan Sarani Course of (59.67%)
AWARD attempt, in one sitting, without KOLKATA 700 006. ICSI
claiming exemption in any subject (Roll No.30728 B.Com (H)
and obtaining the highest Regn. No.ER0214135)
marks in the aggregate taking
into account the performance 2. Sonica Sharma (Ms.) Foundation 22 537/99
of all such successful lady Flat No.2146, Sector66, Course of (59.67%)
candidates. Mohali ROPAR (Punjab) ICSI
(Roll No.34296 B.Com (H)
Regn. No.NR0412203)
8. PT. GOPAL Awarded to a lady candidate Co-Winners :
CHANDRA who passes in all papers of the 1. Sarika (Ms.) Foundation 22 535/900
SHASTRI Final examination, at first CC 14A, Shalimar Bagh Course of (59.44%)
MEMORIAL attempt, in one sitting, without DELHI 110 088. ICSI
AWARD claiming exemption in any subject (Roll No.36417 B.Com (H)
and obtaining the second Regn. No.NR0422859)
highest marks in the aggregate
taking into account the 2. Garima Jain (Ms.) Foundation 21 535/900
performance of all such successful 96, Mangal Vihar Gopalpura Course of (59.44%)
lady candidates. Bye Pass JAIPUR302 018. ICSI
(Roll No.37298
Regn. No.NR0442694)
9. MANTARAM Awarded to a candidate who Rajesh K Pai B. Com. Shri Ananth 23 555/900
MEMORIAL passes in all papers of the C/o Shri Shobha G Shenoy 1st Floor (61.67%)
ANNUAL CASH Final examination, at first H.No.5-6-579/7 1st Cross
AWARD attempt, in one sitting, without Nr. Varashree Store Kodialguttu
claiming exemption in any subject Kodialguttu (West) (East)
and obtaining the highest MANGALORE 575 003. Mangalore-
marks in the aggregate taking (Roll No.47346 575 003.
into account the performance Regn. No.SR0300372)
of all such successful candidates
in June, 2006 and December,
2006 examinations.
10. KAPOOR Awarded to a lady candidate Co-Winners :
CHAND MOTI who passes in all papers of the 1. Aditi Agarwal (Ms.) Foundation 22 537/900
CHAND MOHTA Final examination, at first 67, Bidhan Sarani Course of (59.67%)
MEMORIAL attempt, in one sitting, without KOLKATA 700 006. ICSI
AWARD claiming exemption in any subject (Roll No.30728 B.Com (H)
and obtaining the highest marks Regn. No.ER0214135)
in the aggregate taking
into account the performance 2. Sonica Sharma (Ms.) Foundation 22 537/900
of all such successful lady Flat No.2146, Sector66, Course of (59.67%)
candidates in June and Mohali, ROPAR (Punjab) ICSI
December, 2006 examinations. (Roll No.34296 B.Com (H)
Regn. No.NR0412203)
11. D.L. MAZUM- Awarded to a candidate who Neha Pruthi (Ms.) Foundation Corporate 22 64/100
DARS SILVER passes in all papers of the D/o Shri Subhash Pruthi Course of Professional
MEDAL Final examination, at first 624/6 Ashoka Cottage ICSI 7/9 Sarpriya
attempt, in one sitting, without Railway Colony, Gohana B.Com Vihar
claiming exemption in any subject SONEPAT 131 301 New Delhi
and obtaining the highest HARYANA.
marks in Advanced Company (Roll No.34810
Law and Practice paper Regn. No.NR0366954)
taking into account the perfor-
mance of all successful candi-
dates.
Student Company Secretary 23 July 2007
 Student Services
12. D.L. MAZUM- Awarded to a candidate who Anand R B. Com 27 70/100
DARS SILVER passes in all papers of the 4-69, Richard Street M. Com
MEDAL Final examination, at first N G G O Colony
attempt, in one sitting, without COIMBATORE-641 022
claiming exemption in any subject (Roll No. 44903
and obtaining the highest Regn. No. SR0317282)
marks in Corporate
Restructuring Law & Practice
paper taking into account the
performance of all successful
candidates.
13. PAST PRESI- Awarded to a candidate who Punit Jain Foundation 21 68/100
DENT CHINU- passes in all papers of the C/o Bhura & Company Course of
BHAI R. SHAHS Final examination, at first Room No. 6, 1st Floor ICSI
SILVER MEDAL attempt, in one sitting, without 8, Ganesh Chandra
claiming exemption in any subject Avenue
and obtaining the highest KOLKATA-700 013
marks in 'Secretarial Practice (Roll No. 30665
relating to Economic Laws Regn. No. ER0198024)
and Drafting & Conveyancing'
paper taking into account the
performance of all successful
candidates.
14. VIDYA NAND Awarded to a candidate who Sarika (Ms.) Foundation 22 74/100
MEHTA passes in all papers of the Final CC 14A, Shalimar Bagh Course of
MEMORIAL examination, at first attempt, DELHI 110 088. ICSI
PRIZE AWARD in one sitting, without claiming (Roll No.36417 B.Com (H)
exemption in any subject and Regn. No.NR0422859)
obtaining the highest marks in
Financial, Treasury and Forex
Management paper taking into
account the performance of all
successful candidates.
15. J.B. DANI Awarded to a candidate who Shradha Shah (Ms.) B. Com 26 70/100
MEMORIAL passes in all papers of the Final 262-A, Block-A (Hons.)
PRIZE AWARD examination, at first attempt, Bangur Avenue
in one sitting, without claiming KOLKATA 700 055.
exemption in any subject and (Roll No.30637
obtaining the highest marks in Regn. No.ER0180831)
Human Resource Management
& Industrial Relations
paper taking into account the
performance of all successful
candidates.
16. TAXMANNS Awarded to a candidate who Dinky (Ms.) B. Com. Analyst 25 69/100
PRIZE AWARD passes in all papers of the Final No.10, N M C Lane Goldman
examination, at first attempt, (3rd Floor) Sachs Servi-
in one sitting, without claiming III Cross, R T Street ces (P).Ltd.
exemption in any subject and BANGALORE 560 053. Crystal
obtaining the highest marks (Roll No.44010 Downs
in Direct and Indirect Taxation Regn. No.SR0317049) Embassy
Law and Practice Gold Link
paper taking into account the Bus.Park
performance of all successful Off Int. Ring
candidates. Rd. BANGA-
LORE-560071

Student Company Secretary 24 July 2007

 Student Services
17. GHANSHYAM Awarded to a candidate who Co-Winners :
DAS SARAF passes in all papers of the Final 1. Aditi Agarwal (Ms.) Foundation 22 67/100
MEMORIAL examination, at first attempt, in 67, Bidhan Sarani Course of
GOLD MEDAL one sitting, without claiming KOLKATA 700 006. ICSI
exemption in any subject and (Roll No.30728 B.Com (H)
obtaining the highest marks in Regn. No.ER0214135)
Banking and Insurance
Law and Practice paper taking 2. G A Lakshmi (Ms.) B. Com. Sr. Financial 27 67/100
into account the performance New No.21, Old No.8/1 Analyst
of all successful candidates. Melpadi Muthu Street Ford India
Nungambakkam Pvt. Ltd.
CHENNAI 600 034. S P Koil Post
(Roll No.44491 CHENGAL-
Regn. No.SR0259953) PATTU
603 204
18. SMT. G.P. Awarded to a candidate who Ruchika Aggarwal (Ms.) Foundation 22 69/100
PODDAR passes in all papers of the Final C-8/163, Yamuna Vihar Course of
MEMORIAL examination, at first attempt, DELHI 110 053. ICSI
AWARD in one sitting, without claiming (Roll No.34813 B.Com (H)
exemption in any subject and Regn. No.NR0409405)
obtaining the highest marks in
Secretarial, Management
and Systems Audit paper
taking into account the
performance of all successful
candidates.

INTERMEDIATE EXAMINATION
19. PRESIDENTS Awarded to a candidate who Dipak Daga Foundation 21 565/800
SILVER MEDAL passes in all papers of the 28/1, Naba Gopal Course of (70.63%)
Intermediate examination, at Mukherjee Lane ICSI
first attempt, in one sitting, Shibpur Tram Depot
without claiming exemption in HOWRAH 711 102.
any subject and obtaining the (Roll No.9161
highest marks in the aggregate Regn. No.ER0229781)
taking into account the
performance of all successful
candidates provided that the
aggregate is not less than 55%.
20. JAYPEE Awarded to a candidate who Dipak Daga Foundation 21 565/800
GROUP passes in all papers of the 28/1, Naba Gopal Course of (70.63%)
PRIZE AWARD Intermediate examination, at Mukherjee Lane ICSI
first attempt, in one sitting, without Shibpur Tram Depot
claiming exemption in any HOWRAH 711 102.
subject and obtaining the highest (Roll No.9161
marks in the aggregate Regn. No.ER0229781)
taking into account the
performance of all successful
candidates.
21. KEDARNATH Awarded to a candidate who Aastha Choudhary (Ms.) Foundation 20 556/800
PRAHLADRAI passes in all papers of the 87, Mukta Ram Babu Course of (69.50%)
DHANUKA Intermediate examination, at Street ICSI
MEMORIAL first attempt, in one sitting, with KOLKATA 700 007.
AWARD out claiming exemption in any (Roll No.9396
subject and obtaining the Regn. No.ER0233250)
second highest marks in the
aggregate taking into account
the performance of all
successful candidates.
22. MAUJI RAM Awarded to a lady candidate Aastha Choudhary (Ms.) Foundation 20 556/800
JAIN MEMO- who passes in all papers of the 87, Mukta Ram Babu Course of (69.50%)
RIAL AWARD Intermediate examination, at Street ICSI
first attempt, in one sitting, KOLKATA 700 007.
without claiming exemption in any (Roll No.9396
subject and obtaining the highest Regn. No.ER0233250)
marks in the aggregate
taking into account the
performance of all such
successful lady candidates.

Student Company Secretary 25 July 2007

 Student Services
23. SMT. BONDA- Awarded to a lady candidate Co-Winners :
DA SAMAN- who passes in all papers of the 1. Sweta Bajaj (Ms.) Foundation 20 547/800
THAKAMANI Intermediate examination, at 14/21/9, 4th Floor Course of (68.38%)
MEMORIAL first attempt, in one sitting, without Sanatan Mistri Lane ICSI
SILVER claiming exemption in any Oriapara, Salkia
MEDAL subject and obtaining the second HOWRAH 711 106.
highest marks in the aggregate (Roll No.9223
taking into account the Regn. No.ER0230643)
performance of all such
successful lady candidates. 2. Prerna Agarwal (Ms.) Foundation 20 547/800
C/o Get Well Medico Course of (68.38%)
539, Grand Trunk Road, ICSI
South,
HOWRAH 711 101.
(Roll No.9238
Regn. No.ER0230845)
24. TAXMANN'S Awarded to a candidate who Dipak Doga Foundation 21 73/100
PRIZE passes in all papers of the 28/1, Naba Gopal Course of
AWARD Intermediate examination, Mukherjee Lane ICSI
at first attempt, in one sitting, Shibpur Tram Depot
without claiming exemption in HOWRAH 711 102.
any subject and obtaining the (Roll No.9161
highest marks in 'Tax Laws' Regn. No.ER0229781)
paper taking into account the
performance of all successful
candidates.
25. PREETI Awarded to a candidate who Poonam Premchand B. Com. 23 78/100
PURASKAR passes in all papers of the Chopra (Ms.)
Intermediate examination, 2D, Ratna Jyoti Apt
at first attempt, in one sitting, Ravi Dham Complex
without claiming exemption in Khod Dod Road
any subject and obtaining the SURAT 395 007
highest marks in Company GUJARAT.
Law paper taking into account (Roll No.28390
the performance of all Regn. No.WR0399836)
successful candidates.

FOUNDATION EXAMINATION
26. SULTAN Awarded to a candidate who Abhishek Mukherjee Sr. Sec. 20 375/500
CHAND TRUST passes in all papers of 58/1, Kali Banerjee Lane (75.00%)
PRIZE AWARD Foundation examination, at first HOWRAH 711 101.
attempt, in one sitting without (Roll No.1204
claiming exemption in any Admn. No.EU0101462)
subject and obtaining the highest
marks in the aggregate
taking into account the
performance of all successful
candidates.
27. SULTAN Awarded to a candidate who Ananta Sangeet Sr. Sec. 19 364/500
CHAND TRUST passes in all papers of Kumar (Ms.) (72.80%)
PRIZE AWARD Foundation examination, at Indradarshan
first attempt, in one sitting, 16/405, Off New Link Road
without claiming exemption in Lokhandwala Complex
any subject and obtaining the Andheri (W)
second highest marks in the MUMBAI 400 053.
aggregate taking into account (Roll No.6777
the performance of all Admn. No.WU0165001)
successful candidates.
Student Company Secretary 26 July 2007
 Student Services
28. SULTAN Awarded to a candidate who Chirag Dilip Mehta Sr. Sec. 19 363/500
CHAND TRUST passes in all papers of Flat No.4B, 2/2, Rammoy (72.60%)
PRIZE AWARD Foundation examination, at Road, Bhawanipur
first attempt, in one sitting without KOLKATA 700 025.
claiming exemption in any sub- (Roll No.1902
ject and obtaining the third Admn. No.EU0101791)
highest marks in the aggregate
taking into account the
performance of all successful
candidates.
29. DURGADEVI Awarded to a lady candidate Ananta Sangeet Sr. Sec. 19 364/500
SARAF who passes in all papers of Kumar (Ms.) (72.80%)
MEMORIAL Foundation examination at Indradarshan
GOLD MEDAL first attempt, in one sitting without 16/405, Off New Link Road
out claiming exemption in any Lokhandwala Complex
subject and obtaining the highest Andheri (W)
marks in the aggregate MUMBAI 400 053.
taking into account the (Roll No.6777
performance of all successful Admn. No.WU0165001)
lady candidates.

REGIONAL COUNCIL PRIZE AWARDS

EASTERN INDIA REGIONAL COUNCIL PRIZE AWARDS
1. EIRC CASH Awarded to a candidate who passes in Ankit Mathran Foundation 20 71/100
PRIZE all papers of the Intermediate AC-100, Sector-1 Course of
examination, at first attempt, in one Salt Lake City ICSI
sitting, without claiming exemption in KOLKATA 700 064.
any subject and obtaining the highest (Roll No.9270
marks in Company Secretarial Practice Regn. No.ER0231316)
paper taking into account the
performance of all successful candidates
from examination centres situated within
the Eastern Region.
2. KEDARNATH Awarded to a candidate who passes in Dipak Daga Foundation 21 565/800
DHANUKA all papers of the Intermediate 28/1, Naba Gopal Course of (70.63%)
MEMORIAL examination, at first attempt, in one Mukherjee Lane ICSI
CASH PRIZE sitting, without claiming exemption in Shibpur Tram Depot
any subject and obtaining the highest HOWRAH 711 102.
marks in the aggregate taking into (Roll No.9161
account the performance of all succe- Regn. No.ER0229781)
ssful candidates from examination
centres situated within the Eastern
Region.

NORTHERN INDIA REGIONAL COUNCIL PRIZE AWARDS

1. NIRC SILVER Awarded to a candidate who passes in Sonica Sharma (Ms.) Foundation 22 537/900
SOUVENIR all papers of the Final examination, at Flat No.2146 Course of (59.67%)
AWARD first attempt, in one sitting, without Sector 66, Mohali ICSI
(For Final claiming exemption in any subject and ROPAR (Punjab) B.Com (H)
Examination) obtaining the highest marks in the (Roll No.34296
aggregate taking into account the Regn. No.NR0412203)
performance of all successful candidates
from examination centres situated within
the Northern Region.
2. NIRC PRIZE Awarded to a candidate who passes in Tarun Maliwal Foundation 20 544/800
AWARD FOR all papers of the Intermediate 28, Nakoda Complex Course of (68.00%)
BOTH GROUPS examination, at first attempt, in one Hiran Magri, Sector 4 ICSI
(For Inter- sitting, without claiming exemption in UDAIPUR 313 002.
mediate any subject and obtaining the highest RAJASTHAN
Examination) marks in the aggregate taking into (Roll No.16943
account the performance of all successful Regn. No.NR0441570)
candidates from examination centres
situated within the Northern Region.

Student Company Secretary 27 July 2007

 Student Services
SOUTHERN INDIA REGIONAL COUNCIL PRIZE AWARDS
1. SIRC SILVER Awarded to a candidate who passes in Anand R B. Com 27 547/900
MEDAL all papers of the Final examination, 4-69, Richard Street M.Com (60.78%)
at first attempt, in one sitting, without N G G O Colony
claiming exemption in any subject and COIMBATORE 641 022.
obtaining the highest marks in the (Roll No.44903
aggregate taking into account the Regn. No.SR0317282)
performance of all successful candidates
from examination centres situated within
the Southern Region.
2. SIRC PRIZE Awarded to a candidate who passes in Anand R B. Com 27 70/100
AWARD all papers of the Final examination, 4-69, Richard Street M.Com
at first attempt, in one sitting, without N G G O Colony
claiming exemption in any subject and COIMBATORE 641 022.
obtaining the highest marks in (Roll No.44903
Corporate Restructuring Law and Regn. No.SR0317282)
Practice paper taking into account the
performance of all successful candidates
from examination centers situated
within the Southern Region.
3. SIRC - MRS.Awarded to a candidate who passes in G A Lakshmi (Ms.) B. Com. Sr. Financial 27 59/100
PANKAJAM all papers of the Final examination, at New No.21, Old No.8/1 Analyst
RENGACHARI first attempt, in one sitting, without Melpadi Muthu Street Ford India
PRIZE claiming exemption in any subject and Nungambakkam Pvt. Ltd.
AWARD obtaining the highest marks in Advanced CHENNAI 600 034. S P Koil Post
Company Law and Practice (Roll No.44491 CHENGAL-
paper taking into account the Regn. No.SR0259953) PATTU
performance of all successful candidates 603 204
from examination centres situated within
the Southern Region.
4. LATE G. Awarded to a candidate who passed in Vandana S (Ms.) B.Com 22 75/100
SUNDARA all papers of the Intermediate Plot No.161, V Avenue
RAJAN examination, at first attempt, in one Metro Nagar Extension
ENDOWMENT sitting, without claiming exemption in any Alapakkamm, Porur
AWARD subject and obtaining the highest marks CHENNAI 600 116.
in Management Information Systems (Roll No.19710
and Corporate Communication paper Regn. No.SR0336674)
taking into account the performance of
all successful candidates from
examination centres situated within the
Southern Region.
5. SIRC - Awarded to a candidate who passes in Co-winners B.Com. 23 68/100
V. KUMAR all papers of the Intermediate 1. Utsav K Prakash
MEMORIAL examination, at first attempt, in one sitting, No.126, First Floor
PRIZE AWARD without claiming exemption in any subject Reservoir Street Kr
and obtaining the highest marks in Road Basavanagudi
Tax Laws paper taking into account BANGALORE 560 004.
the performance of all successful (Roll No.19247
candidates from examination centres Regn. No.SR0342175)
situated within the Southern Region.
2. Vandana S (Ms.) B.Com. 22 68/100
Plot No.161, V Avenue
Metro Nagar Extension
Alapakkam, Porur
CHENNAI 600 116.
(Roll No.19710
Regn. No.SR0336674)

3. Mahendra Y V S B.Com. (H) Finance & 30 68/100

Finance & Accounts Accounts
(Excise Duty Section) (Excise
1st Floor, Administration Duty
Bldg. B H E L, Ramach- Section)
andrapuram 1st Floor
HYDERABAD502 032. Adminis-
(Roll No.20973 tration Bldg.
Regn. No.NR0473955) B H E L, R C
Puram
HYDERABAD
502 032
Student Company Secretary 28 July 2007
 Student Services
4. Razia Sultana Shaik (Ms.) B.Com. 23 68/100
Door No.42-18-11, Block M.Com.
No.71, Old Mosque Street
Azith Singh Nagar
VIJAYAWADA 520 015.
(Roll No.21021
Regn. No.SR0299284)

HYDERABAD CHAPTER OF SIRC (ICSI) PRIZE AWARDS

1. LATE Awarded to a candidate who passes in Co-winners :
MADINEEDI all papers of the Final examination, at 1. S R V V S Narayana B.Com Asstt. Co.Secy. 32 460/900
RAMAKRI- first attempt, in one sitting, without Nekkanti, LL.B Spandana (51.11%)
SHNA SUBH- claiming exemption in any subject and C/o Smt. BSDRajya Sphoorty Inno-
ADRA MEMO- obtaining the highest marks in the Lakshmi Shriram Chits, vative Financial
RIAL AWARD aggregate taking into account the 3rd Floor Anand Estate, Services Ltd.
performance of all successful candidates Himayat Nagar 7-1-19/5 Vamsi
from Hyderabad Centre. HYDERABAD 500 029 Rani Jyothi
(Roll No.45850 Bhoopal Apts.
Regn. No.CR0323198) Begumpet
HYDERABAD
500 016
2. Tulasi Maha Lakshmi B.Com 33 460/900
Rajala (Ms.) M.Com (51.11%)
C/o Mr. Chandaramoule LL.B
Plot No.52, Arvinda Nagar
Domalguda
Nr. Rockwood High School
HYDERABAD 500 029
(Roll No.45858
Regn. No.CR0328337)
2. LATE SHRI M. Awarded to a candidate who passes in Mahendra Y V S B.Com. (H) Finance & 29 514/800
GURU RAJ all papers of the Intermediate examination, Finance & Accounts Accounts (64.25%)
RAO MEMO- at first attempt, in one sitting, (Excise Duty Section) (Excise Duty
RIAL GOLD without claiming exemption in any subject 1st Floor, Administration Section)
MEDAL and obtaining the highest marks Bldg. B H E L , Ramachan- 1st Floor, Admini-
in the aggregate from amongst all such drapuram stration Bldg.
successful candidates from Hyderabad HYDERABAD 502 032. B H E L, R C
Centre. (Roll No.20973 Puram
Regn. No.NR0473955) HYDERABAD
502 032.
3. LATE Awarded to a candidate who passes in Samvit Durga Sr.Sec 356/500
MADINEEDI all papers of the Foundation examination Flat No.403, Keerthi (71.20%)
RAMAKRI- at first attempt, in one sitting, Shikara A Street No.18,
SHNA SUBH- without claiming exemption in any subject D. No.3-6-136A/B
ADRA MEMO- and obtaining the highest marks Himayat Nagar
RIAL AWARD in the aggregate from amongst all such HYDERABAD 500 029.
successful candidates from Hyderabad (Roll No.5410
Centre. Admn. No.SU0081699)

WESTERN INDIA REGIONAL COUNCIL PRIZE AWARDS

1. WIRC MEDAL Awarded to a candidate who passes in Co-Winners :
all papers of Final examination, at first 1. Nishad Ganesh Jail Foundation 24 510/900
attempt, in one sitting, without claiming 201, Damle Aptts Course of (56.67%)
exemption in any subject and obtaining Bramhanwadi, Kurla (W) ICSI
the highest marks in the aggregate M N Patankar Road B.Com
taking into account the performance of MUMBAI 400 070.
all successful candidates from examina- (Roll No.51911
tion centers situated within the Western Regn. No.WR0292281)
Region.
2. Deepti Shekhar Foundation 21 510/900
Agharkar (Ms.) Course of (56.67%)
1, Kamal Kunj Apts. ICSI
111, Mayur Colony, Kothrud
PUNE 411 038
(Roll No.53939
Regn. No.WR0393304)

Student Company Secretary 29 July 2007

 Student Services
2. WIRC CASH Awarded to a candidate who passes in Geetanjali Shashikant Foundation 22 508/900
PRIZE all papers of the Final examination, at Tulsian (Ms.) Course of (56.44%)
first attempt, in one sitting, without A-32, Mandhana Manor ICSI
claiming exemption in any subject and 18, Mogul Lane B.Com
obtaining the second highest marks in Matunga (West)
the aggregate taking into account the MUMBAI 400 016.
performance of all successful candidates (Roll No.51468
from examination centres situated within Regn. No.WR0374502)
the Western Region.
3. LATE SHRI Awarded to a lady candidate who passes Deepti Shekhar Foundation 21 510/900
S. NARA- in all papers of the Final examination, Agharkar (Ms.) Course of (56.67%)
YANAN MEMO- at first attempt, in one sitting, without 1, Kamal Kunj Apts. ICSI
RIAL PRIZE claiming exemption in any subject and 111, Mayur Colony, Kothrud
AWARD obtaining the highest marks in PUNE- 411 038
the aggregate taking into account the (Roll No.53939
performance of all such successful lady Regn. No.WR0393304)
candidates from examination centers
situated within the Western Region.
4. PAST PRESI- Awarded to a candidate who passes in Kamalkumar Punamchand Foundation 21 58/100
DENT CHINU- all papers of the Final examination, at Dhareva Course of
BHAI R. SHAH first attempt, in one sitting, without A-404, Diwakar Bhavan ICSI
AWARD claiming exemption in any subject and Narayan Nagar
obtaining the highest marks in Advanced Bhayandar (West)
Company Law and Practice paper THANE 401 101.
taking into account the performance of (Roll No.52640
all successful candidates from Regn. No.WR0390904)
examination centres situated within the
Western Region.
5. SUKHLAL C. Awarded to a candidate who passes in Deepti Shekhar Agharkar Foundation 21 63/100
MODY MEMO- all papers of the Final examination, at (Ms.) Course of
RIAL PRIZE first attempt, in one sitting, without 1, Kamal Kunj Apts. ICSI
claiming exemption in any subject and 111, Mayur Colony, Kothrud
obtaining the highest marks in PUNE 411 038
Corporate Restructuring - Law and (Roll No.53939
Practice paper taking into account the Regn. No.WR0393304)
performance of all successful candidates
from examination centres situated within
the Western Region.
6. WIRC PAST Awarded to a candidate who passes in Geetanjali Shashikant Foundation 22 62/100
CHAIRMAN all papers of the Final examination, at Tulsian (Ms.) Course of
V.K. MATHUR first attempt, in one sitting, without A-32, Mandhana Manor ICSI
MEMORIAL claiming exemption in any subject and 18, Mogul Lane B.Com
AWARD obtaining the highest marks in Secretarial Matunga (West)
Practice relating to Economic Laws MUMBAI 400 016.
and Drafting and Conveyancing paper (Roll No.51468
taking into account the performance of Regn. No.WR0374502)
all successful candidates from
examination centres situated within the
Western Region.
7. WIRC MEDAL Awarded to a candidate who passes in Poonam Premchand B. Com. 23 546/800
all papers of the Intermediate examination Chopra (Ms.) (68.25%)
at first attempt, in one sitting, without 2 D, Ratna Jyoti Aptt.
claiming exemption in any subject Ravi Dham Complex
and obtaining the highest marks in Dhod Dod Road
the aggregate, taking into account the SURAT 395 007.
performance of all successful candidates (Roll No.28390
from examination centres situated within Regn. No.WR0399836)
the Western Region.
8. WIRC CASH Awarded to a candidate who passes in Reema Jitendra Mehta (Ms.) Foundation 21 535/800
PRIZE all papers of the Intermediate examination, C 6, Anandwan Society Course of (66.88%)
at first attempt, in one sitting, without Manialpur ICSI
claiming exemption in any subject VADODARA 390 004.
and obtaining the second highest (Roll No.23927
marks in the aggregate taking into Regn. No.WR0411861)
account the performance of all successful
candidates from examination centres
situated within the Western Region.

Student Company Secretary 30 July 2007

 Student Services
9. PAST PRESI- Awarded to a candidate who passes in Poonam Premchand B. Com. 23 78/100
DENT CHINU- all papers of the Intermediate examination Chopra (Ms.)
BHAI R. SHAH at first attempt, in one sitting, without 2 D, Ratna Jyoti Aptt.
AWARD claiming exemption in any subject Ravi Dham Complex
and obtaining the highest marks in Dhod Dod Road
Company Law paper taking into SURAT 395 007.
account the performance of all (Roll No.28390
successful candidates from examination Regn. No.WR0399836)
centres situated within the Western
Region.
10. SUGUNA Awarded to a lady candidate who Poonam Premchand B. Com. 23 546/800
MEMORIAL passes in all papers of the Intermediate Chopra (Ms.) (68.25%)
PRIZE examination, at first attempt, in one 2 D, Ratna Jyoti Aptt.
sitting, without claiming exemption Ravi Dham Complex
in any subject and obtaining the Dhod Dod Road
highest marks in the aggregate taking SURAT 395 007.
into account the performance of all (Roll No.28390
successful lady candidates from Regn. No.WR0399836)
examination centres situated within the
Western Region.
11. ELVINA PINTO Awarded to a candidate who passes in Ananta Sangeet Kumar (Ms.) Sr. Sec. 19 364/500
MEMORIAL all papers of the Foundation examination Indradarshan (72.80%)
PRIZE AWARD at first attempt, in one sitting, without 16/405, Off New Link Road
claiming exemption in any subject Lokhandwala Complex
and obtaining the highest marks in Andheri (W)
the aggregate taking into account the MUMBAI 400 053.
performance of all successful candidates (Roll No.6777
from examination centres situated within Admn. No.WU0165001)
the Western Region.

AHMEDABAD CHAPTER OF WIRC (ICSI) PRIZE AWARDS

1. SHRISH H. Awarded to a candidate who passes in Rakesh Gopalbhai Jimuliya B.B.A. 24 477/900
SHAH MEMO- all papers of the Final examination, at C/o Shailendra Mundra M.B.A. (53.00%)
RIAL PRIZE first attempt, in one sitting, without 403, Favourit Residensy
(For Final claiming exemption in any subject and Near Loyala Hall
examination) obtaining the highest marks in the Memnagar
aggregate taking into account the AHMEDABAD 380 052.
performance of all successful candidates (Roll No.49751
from Ahmedabad Centre. Regn. No. WR0354192)
2. SHRISH H. Awarded to a candidate who passes in Nimesh Rasiklal Pala B. Com. 23 450/800
SHAH MEMO- all papers of the Intermediate examination 2 Hathi Colony (56.25%)
RIAL PRIZE at first attempt, in one sitting, without Opp. Mahalaxmi Appartment
(For Inter- claiming exemption in any subject and Sumair Club Road
mediate obtaining the highest marks in the JAMNAGAR 361 005
examination) aggregate taking into account the GUJARAT
performance of all successful candidates (Roll No.23683
from Ahmedabad Centre. Regn. No.WR0428089)

PUNE CHAPTER OF WIRC (ICSI) PRIZE AWARDS

1. SMT. SHAK- Awarded to a candidate who passes in Deepti Shekhar Foundation 21 510/900
UNTALABAI all papers of the Final examination, at Agharkar (Ms.) Course of (56.67%)
N. NAVARE first attempt, in one sitting, without 1, Kamal Kunj Apts. ICSI
AND SHRI claiming exemption in any subject and 111, Mayur Colony, Kothrud
BHAGWAN D. obtaining the highest marks in the PUNE 411 038
BHAVE aggregate taking into account the (Roll No.53939
MEMORIAL performance all successful candidates Regn. No.WR0393304)
AWARD from Pune Centre.

Student Company Secretary 31 July 2007

 Quiz - Prize Winners
STUDENTS QUIZ
PRIZE QUERY
Shri Suresh a shareholder holding more than 10% of the shares
in a company requisitioned the company to call an extra-
ordinary general meeting of the company for considering his
proposal to induct his nominee on the Board of Directors of
the company. On the company refusing to comply with his
requisition he moved the Company Law Board for calling the
extra-ordinary general meeting of the company under section
186 of the Companies Act, 1956 on the ground that it was
impracticable for him to convene the extra-ordinary general
meeting in the absence of the list of shareholders of the
company. Can the Company Law Board accede to his request?
CONDITIONS
1. Answer should not exceed one page typed in double space.
The answer sheet should contain the name, registration number
and address of the student.
2. Last date for receipt of answer is 16th August, 2007.
3. Two prizes (a first and a second) in kind will be awarded to the
best answers and the names of the contributors will be published
in the Bulletin.
4. The envelope should be superscribed Students Query,
July 2007 and addressed by name to N.K. Jain, Secretary &
Chief Executive Officer, The Institute of Company Secretaries
of India, ICSI House, 22, Institutional Area, Lodi Road, New
Delhi-110003.
QUIZ - PRIZE WINNERS
NOVEMBER 2006
QUERY
Shri Y was selling lottery tickets. The sales tax authorities
assessed him for sales tax on the price realized by him from the
sale of lottery tickets. Will the action of the Sales Tax Authorities
tenable in law ?
WINNERS
First Prize
Poonam Singhi (Regn. No. ERO 241251/08/2006) 73/1B, Palm
Avenue, Ballygunge, Kolkata700 019
Second Prize
Vineet Sodhani (Regn.No. NRO449921/07/2005) C-54, Sethi
Colony, Agra Road, Jaipur 302 004.
ANSWERS
FIRST PRIZE
At the outset it needs to be stated that the question of levying of
sales tax on sale of lottery tickets has been raised time and again. To
reach to a definite conclusion it is imperative that we look into the
provisions of Constitution in details with regard to the same.
Under the Constitution Separation of powers between the Union
(Centre) and its Constituents (that is the States) have been explicitly
dealt with in Seventh Schedule whereby the subjects on which the
Union and the State can legislate have been segregated. Entry 54 of
List II of the Seventh Schedule (which deals with state subjects) read
with Article 246(3) of the Constitution has empowered the State to
make laws with respect to taxes on the sale or purchase of goods
other than newspapers subject to the provision of Entry 92A of List I
(dealing with Union subjects) whereby the same is not allowed by the
Student Company Secretary
State if it involves inter-State trade or commerce. Thus, taxes on sale
of goods other than newspapers etc can be levied by the State
Governments only.
However, in the State of Madras v. Gannon Dunkerley & Co. the
phrase sale of goods became the subject of scrutiny. The expression
as defined in Section 4(1) of the Sale of Goods Act, 1930 was given a
narrow interpretation as it included only those sales whereby:
1. An agreement was to transfer title,
2. It was supported by consideration and
3. An actual transfer of title took place.
To undo this rigor, Clause 29A was added to Article 366 which
mentions six particular transactions which have been included to
increase the scope of expression sale of goods.
One of those transactions reads as follows:
(d) a tax on the transfer of the right to use any goods for any
purpose (whether or not for a specified period) for cash, deferred
payment or other valuable consideration.
The contention that Article 366(29A)(d) involves a sale of goods
when a lottery ticket is sold was raised in the case of H.Anraj v.
Government of Tamil Nadu (1985).The two Judge Bench while deciding
the case held that the lottery ticket involved two kinds of rights viz:
1. Right to participate in lottery draw and
2. Right to win the prize depending on chance (that is a contingent
interest in money).
The second right which was a chose in action and hence not
goods, the first was a transfer of beneficial interest in moveable goods
and hence was liable to be taxed. Therefore, sales tax could be levied
on sale of lottery tickets by the State.
However, this decision was challenged in the case of Sunrise
Associates v. Government of National Capital Territory of Delhi and
others (1999), where it was contended that the Right to purchase a
lottery ticket was nothing more than an actionable claim within the
meaning of Section 3 of the Transfer of Property Act, 1882 and therefore
outside the definition of goods under Sales Tax Acts.
On April 28,2006 while delivering the judgment Justice Ruma Pal
and others held that:
1. The distinction drawn in the above mentioned H.Anrajs case was
undesirable and
2. That lottery tickets were actionable claim and hence not sus-
ceptible to Sale Tax by State.
In the light of the above discussion it can be stated that the action
of Sales Tax authorities against Shri Y that sales tax can be levied on
the proceeds from sale of lottery tickets is untenable in law.
SECOND PRIZE
Statuory Provisions:
Entry 54 of List II (State List) to Schedule VII of the Constitution of
India empowers the States to impose taxes on sale or purchase of
goods. However, as per Entry 92A of List I (Union List) of the said
schedule, the power to levy taxes on inter-state sale of goods vests
with the Union. Thus, for the levy of taxes on sale or purchase, it is
imperative that the item bought or sold is goods within the meaning of
the Sales Tax Act.
The Sale of Goods Act, 1930, the Central Sales Tax Act 1956, the
Sales Tax laws of all the States and the Value Added Tax (VAT) laws
of all the States, which have adopted VAT, uniformly define goods to
exclude actionable claims from the ambit thereof.
The issue :
In order to judge whether lottery tickets are goods or not, it is to
be examined whether they are actionable claims. If lottery tickets are
actionable claims, they will not be goods liable to sales tax.
Recent Judgment of the Supreme Court :
32 July 2007
 Quiz - Prize Winners
The aforesaid question of law came up for consideration by the
Constitution Bench of the Honble Supreme Court in Sunrise Associates
v. Government of NCT of Delhi & Ors [(2006) 6 RC 488).
Overruling its old decision in H. Anraj v. Government of Tamil Nadu
[1986] 61 STC 165 (SC), the Apex Court held that a lottery ticket is, in
essence, a chance for a prize and, therefore, the sale of a lottery
ticket can only be a sale of that chance. Lottery ticket represents
composition of two rights viz. the right to participate in the draw and
right of the chance to win. The right to participate is an implicit part of
the right to win and the two are inseparable, as neither can stand
without the other. There is no value in the mere right to participate in
the draw and the purchaser pays for the chance to win, not for the
right to participate. The right to participate, being an inseparable part
of the chance to win is, therefore, part of an actionable claim.
Further, the only object of the right to participate would be to win
the prize. The transfer of the right would, thus, be of a beneficial interest
in a movable property not in possession. By purchasing a lottery ticket,
the purchaser acquires a right to conditional interest in the prize money,
which is not in his possession. Such a right would surely be an
actionable claim and would, therefore, be excluded from the ambit
and scope of the term goods within the meaning of Sale Tax and VAT
Acts.
Conclusion & Solution:
Applying the Supreme Courts judgment in Sunrise Associatess
case (supra), the action of sales tax authorities in assessing the price
realized by Mr. Y from sale of lottery tickets to sales tax is not tenable
in law, as lottery tickets are not goods.
DECEMBER 2006
QUERY
XY Flight Services Limited was supplying foods and beverages
to air line companies for serving to the in-flight passengers. The
Service-Tax authorities demanded service tax on the supplies so
made. Are the supplies so made by XY Flight Services Limited to
air line companies liable to service tax?
WINNERS
First Prize
DigamberS. Mahajani (Regn.No. CRO 323494) 104, Nirmandeep
Complex, Opp. Sharad Kanya Vidyalaya Vishwamitiri Road,
Manjalpur Vadodara (Guj.) 390011
Second Prize
U.Padma Shenoy (SRO258401/02/2003) H.No.20-64, Plot No.473,
Gautam Nagar, Malkajgiri Hyderabad 500 047
ANSWERS
FIRST PRIZE
XY Flight Services Limited engaged in the business of supplying
foods and beverages to air line companies for serving to the in-flight
passengers, falls within the meaning of Outdoor caterer of Section
65 (76a) of Finance Act 1994. The services rendered by XY Flight
Services Ltd are taxable service and are liable to service-tax under
section 66 of the Act. The Service-tax authorities are justified to demand
service-tax on supplies so made by the service provider (XY Flight
Services Limited).
In Saj Flight Services (P.) Ltd v. Superintendent of Central Excise
[2006 (4) S.T.R. 432 (Ker.)], the Kerala High Court held that supply of
foods and beverages to airline companies to the inflight passengers
would attract liability under Outdoor Caterers for service tax.
The contention of the petitioner (Saj Flight Services (P.) Ltd) in the
above-referred case was that it would not fall within the expression
Caterers under sub-section 24 of Section 65 of the Finance Act,
1994.
The High Court while delivering the judgment took note of the
definition of Caterer and Outdoor Caterer given in the Finance Act,
Student Company Secretary
1994, which reads as under -
Caterer means any person who supplies, either directly or
indirectly, any food, edible preparations, alcoholic or non-alcoholic
beverages or crockery and similar articles or accoutrements for any
purpose or occasion; [Section 65(24)].
Outdoor caterer means a caterer engaged in providing services
in connection with catering at a place other than his own, but including
a place provided by way of tenancy or otherwise by the person receiving
such services; [Section 65(76a)]
The High Court maintained that the petitioner is admittedly engaged
in supply of foods and beverages to aircrafts for services to passengers
on board. Such transactions would attract liability under Outdoor caterer
[Section 65(76a)] for service tax and liable to tax under section 66 of
the Act. Hence, considering the nature of work undertaken by the
petitioner, there is no infirmity in the order of the Superintendent of
Centra! Excise holding that the petitioner is providing taxable service
and liable to get registered under section 69 of the Finance Act, 1994.
In view of the case law cited above, the supplies made by XY
Flight Services Limited to airline companies are liable to service-tax.
SECOND PRIZE
The word purpose or occasion referred to in the definition of
caterers refers to the customers. In other words, supply or service is
to meet any purpose of the customer or for any occasion arising to the
customer.There is nothing to indicate in the definition clause that such
purpose or occasion should be rare or occasional & should not be
frequent or even regular. Service of food & beverages to passengers
during flight was the purpose for which air companies took the supplies
from the petitioner.The petitioner admittediy supplied the items on board
flights so much so the activity of the supplier squarely fell within the
purview of section 55(24). Therefore, regular supply of food &
beverages by the petitioner to Aircrafts under orders from airline
companies would attract liability to tax.
A challenge by way of writ petition came before the Kerala High
Court in the case of SAJ Flight Services Pvt. Ltd. v. Superintendent of
Central Excise [(2006)3 STT165 (KER)].
Brief Facts: The petitioner was supplying food & beverages to air
companies. The service tax authorities issued show cause notice on
the petitioner demanding service tax on such supplies made to airline
companies.
Decision: The petition was dismissed.
Reasons : The outdoor caterers supply food & beverages in
accordance with the terms of supply to the airline companies. It may
be in airports or aircrafts or any other place so long as the supply is
not in the premises of the caterer, it is outdoor catering. The word
place, referred to in Section 65(76A) has no artificial or technical
meaning. Therefore, service anywhere outside the caterers place
would attract liability under section 66 of the Service Tax Act.
OPENING OF NEW EXAM. CENTRES AT KOLHAPUR AND
SRINAGAR FOR CS EXAMINATIONS
The Institute is pleased to announce opening of two new
Examination Centres at following places for conduct of 'Company
Secretaries' examinations upto June, 2008 examinations purely
on experimental basis:
Sl No. Place Centre Code
1. Kolhapur 417
2. Srinagar (J&K) 227
Accordingly, students are welcome to opt for the new Examination
Centre in their enrolment applications for appearing in the
forthcoming examinations.
33 July 2007
 News and Announcements
NEWS AND ANNOUNCEMENTS
INSTITUTE NEWS
CS PROGRAMME ON AIR-FM GOLD
On 3.6.2007 a live interview with N.K. Jain, Secretary & CEO of
the Institute on Career as a Company Secretary was broadcast on
106.4 AIR-FM Gold from 9.15 AM to 9.30 AM during Celebrity
show.
LIVE PHONE-IN PROGRAMME ON CS ON SAHARA-
SAMAY (NCR)
On 6.6.2007 a live phone in programme on Company
Secretaryship was telecast between 6.30 P.M. to 7.00 P.M. on
Sahara Samay (NCR) during the show Dakhile Ki Daud.
N.K. Jain, Secretary & CEO, the ICSI was interviewed amid
telephonic queries from students and parents in the special show
highlighting admission to professional courses/career options. The
programme was coordinated by Dr. Amita Ahuja, Director (Public
Relations & Corporate Communication).
EASTERN INDIA REGIONAL COUNCIL
INAUGURATION OF ORAL COACHING CLASSES
On 16.6.2007 the June07 batch of oral coaching classes for
Foundation and both groups of Intermediate course was inaugurated
by H. M. Choraria, Past President, the ICSI at the ICSI-EIRC Building.
Anjan Kumar Roy, Chairman,TEFC of EIRC gave an overview as
to how to proceed in preparation for the CS Course and to take benefit
of the oral tuition. He stressed on the scope that has been opened up
before the students by virtue of their joining the Course. He encouraged
the students for active participation in the National Level Students
programmes.
Subrata Kumar Ray, Chairman, EIRC spoke about rising scope of
the profession in the Eastern Region. He emphasised that the present
world has shifted towards knowledge as capital and students would
possess the same through diligence and care and added that the
ultimate success would be a result of understanding the subject and
to visualise.
Chief Guest H.M. Choraria, Past President, the ICSI, speaking on the
occasion, gave a clear picture about the prospect and how students should
keep them abreast of proper knowledge and basic norms of behaviour.
He projected the job of Company Secretaries and the importance of the
profession. He described the Executive Officer and his entire team of
EIRO officials as highly cooperative, dedicated and very sincere for the
cause of students. He wished the students all success.
Swapan Sengupta, Faculty Member of Oral Coaching Classes
gave various tips to the students and encouraged them for success.
Mukesh Chaturvedi, Secretary, EIRC said that it would require only
a small amount for pursuing CS Course leaving the room open for the
meritorious students from all corners to the dignified CS Profession.
CAREER AWARENESS PROGRAMMES
On 30/06/2007 at a Career Awareness Programme organized by
the EIRC with Principals and Heads of Departments of Colleges, the
Institutes Corporate Film was screened to give an overview of the
Institute and the Profession of company secretaries. Anjan Kumar
Roy, Chairman, TEFC of EIRC anchored the programme.
The learned professors raised various issues of fear of the student
community as to why they try to avoid the CS Course. Some raised
the question of compatibility of the B Com Course projecting more
upon accounts as the core area of B.Com with minimum stress on
Mercantile/Corporate Laws there while the case is opposite in case
of CS Course. Some also added that the CS Course approaches more
to the Commerce students and wanted to know if the students of
Humanities or of Science Stream are not suitable.
Student Company Secretary
The queries raised and clarifications sought were well replied by
Anjan Kumar Roy and others. Santanu Mukherjee, Executive Officer
said that the students who come from Humanities and Science Streams
do well in the CS Examinations though their inflow is less than that of
B Com students. Anjan Roy referred to various members who joined
the Course form Science background as well. The learned professors
suggested that the Institute may project more the Course as suitable
for all the students and to wipe out the impression that it is primarily a
course for B.Com students. Mukesh Chaturvedi expressed his feeling
to take it as a service to spread a Course like this which involves low
cost of study well within the reach of the middle class people as well
and a high return.
The interaction proved to be interesting and served the purpose at
the first instance. The professors happened to have perceived the
Course in a new perspective and were highly satisfied. The principals
invited the Institute to conduct Career Awareness Programmes at their
colleges and volunteered to provide full support to ICSI-EIRC. One of
the colleges offered to start collaborative oral coaching centre. They
also wished to have a regular link with the Institute and to contribute to
impress upon the University about CS Course.
Again on 1.7.2007 Labpur Panchayat Samity, organised a career
awareness programme at Labpur, Birbhum District, West Bengal where
the Institute was invited to make a presentation about the CS Course.
There was a gathering of 250 people in the programme. Apart from
the organisers there were Government officials, Heads and other
officials of 11 panchayats, Headmasters and teachers of 33 schools
and Principals and Professors of 2 colleges, representatives of West
Bengal University Teachers Association, parents and students from
different schools and colleges.
At the beginning the Institutes Corporate film was shown to the
participants. Thereafter Santanu Mukherjee, Executive Officer, EIRO of
the ICSI in his address gave an overview of the Institute, the course and
the profession and impressed upon them the avenues to excel in life
through CS Course at a low cost while talking to them in a lucid manner.
Ananda Sankar Mukhopadhyay, ACS, 1st Class Judicial Magistrate,
Bishnupur, Bankur explained about the job market and the potential
of CS Course. He was excellent in rousing the motivation and interest
of the students while talking to them.
U. Mukherjee, Administrative Officer, EIRO of the ICSI spoke about
the course contents, fee structure, examinations, training requirements
and facilities available from the Institute. Leaflets explained the CS
course were distributed to the participants and Institutes presentation
dockets were also presented to important personalities.
There was a question answer session thereafter. The participants
raised various queries which were replied suitably. There was a great
enthusiasm created among all present. The Headmaster of a local
school, and a respectable personality of that area said that their school
having good infrastructure would be glad to provide necessary
assistance free of cost for use of students for CS studies. He also
expressed his good feeling that students got enough ingredient to
think beyond looking for local government jobs and that all came to
touch with a new situation where possibilities are more and he advised
the students to set themselves for a harder aim-directed approach in
order to become a professional.
BHUBANESWAR CHAPTER
TELECAST ON ETV (ORIYA) ON CAREER IN COMPANY
SECRETARYSHIP COURSE
On 10.6.2007 in the morning the prerecorded programme of P.K.
Sahoo, Chapter Chairman on Career in Company Secretaryship
Course was telecast on ETV (Oriya Channel) . The programme
coverage was mainly about career prospects and other details of the
company secretaryship course.
NORTHERN INDIA REGIONAL COUNCIL
SIXTEENTH ACADEMIC DEVELOPMENT PROGRAM (ADP)
On 19.5.2007, the 16th Academic Development Program for
34 July 2007
 News and Announcements
students was organized at ICSI-NIRC Building, New Delhi which was
attended by 71 students.
Rajat Tooley, Technology Specialist,IBM took session on Internet
and Web Technologies, Abhitosh Tripathi, Sr. IT Manager, CMC Ltd.
took session on VAT Computerisation, Gyan Verma, Head
Applications, TCS took session on MCA-21 e-Governance
perspective, Vivek Agarwal, Company Secretary & Head Legal CMC
Limited took session on Legal Aspects of BPO/KPO and Rajeev
Ranjan, Sr. IT Manager, CMC Limited took session on Digitisation of
Records.
S. Koley, Secretary, NIRC and Vivek Agarwal provided their best
wishes to the participants at the valedictory session and also distributed
programme completion certificates to all eligible participants.
CAREER AWARENESS PROGRAMMES
NIRC organised a number of career awareness programmes as
per the details given below:
On 1.5.2007 a career awareness programme was held at DAV
School, Puspanjali Enclave, New Delhi by way of a career fair. On
7.5.2007 the programme was held at Delhi Public School, Vasant Kunj,
New Delhi. On 10.5.2007 the programmes were held at US Sr. Sec
School, Govt. Girls Sr. Secondary School, Lord Krishna Sr. Secondary
School all at Pataudi, Gurgaon. On 15.05.2007 the programmes were
held at Lal Bahadur Shastri Sr. Secondary School, Bal Kanya Sr.
Secondary School and Tagore Public School all at Pataudi, Gurgaon.
The programmes were addressed by one or the other of the following
jointly and severally. K.K. Narula, Administrative Officer, NIRO; Nesar
Ahmed, Council Member, the ICSI; A K Srivastava, Executive Officer,
NIRO; Pradeep Debnath, Suresh Chander Joshi, Members of the ICSI.
A large number of students of each institution including teachers
attended the programmes. During the career awareness programmes
the speakers apprised about the mode of registration in the CS course,
syllabus, structure of the course and also the avenues available to the
profession both in employment and in practice. Pamphlets explaining
career in Company Secretaryship course were also distributed to the
students.
JAIPUR CHAPTER
CAREER FAIR
From 19.5.2007 to 27.5.2007 the Jaipur Chapter participated in
the Career Fair organized by leading Newspaper Rajasthan Patrika in
Jaipur and Kota. The stall of ICSI was inaugurated by the Chairman
of the Chapter Girish Goyal. On this occasion Vimal Gupta Vice
Chairman, Shyam Agarwal, Treasurer, Yogesh Sachdeva, DOC and
other managing committee members were also present. The staff of
Jaipur Chapter G.C. Sharma and O.P. Saini was present in the fair for
all the days and replied to the queries of the visitors including
prospective students to their satifaction. More than 1000 persons
visited the stall.
On the concluding day of the fair, Girish Goyal felt satisfied for
successful participation in such mega event and creating a better
awareness about the CS course amongst students.
ACADEMIC DEVELOPMENT PROGRAMME
On 1.6.2007 an Academic Development Programme for the
students was organised. The ADP was inaugurated by Girish Goyal,
Chapter Chairman. In the inaugural address Girish Goyal informed
about the series of Chapter activities held during the past couple of
months and the programmes to be organized in the coming months.
He also highlighted the importance of ADP and shared the subjects to
be covered and about the faculties. He informed about the Elocution
competition for the students. All India level Essay competition being
organized by the Chapter and other forthcoming activities exclusively
for the students and requested them to ensure their active participation
in all such educative, academic and co-curricular activities.
Student Company Secretary
The first session was conducted by Dr.B.L. Gupta. He elaborated
Derivatives. He emphasized that investors should opt Futures and
Options i.e.tools of derivatives in the volatile and highly sensitive
capital market.
Sandeep Taneja, the speaker of the second session delivered a
lecture on the career opportunities in M&A, law filed for CS. The third
speaker Gajanand Gupta explained the participants, the procedure
and formalities involved for incorporation of a new company.
ELOCUTION COMPETITION FOR THE STUDENTS
On 14.6.2007, the Elocution Competition for the students was
organised at the Chapter level. A number of students participated in
the competition which was on the topic Independent Directors from
different functional areas are necessary for good corporate governance.
The judges for the competition comprised of Girish Goyal,
Chairman, Shyam Agarwal,Treasurer, Yogesh Sachdeva, DOC and
G.C. Sharma, EO of the Chapter.
Kadambiri Pania bagged the first position while Geeta and Nikitta
Kumar jointly bagged the second position. All the three winners from
the Chapter would participate in the Regional level competition.
SOUTHERN INDIA REGIONAL COUNCIL
BANGALORE CHAPTER
CAREER AWARENESS PROGRAMME
On 25.5.2007 the Chapter organised a Career Counselling
Programme at Christ College, Bangalore. Around 50 prospective
students each from B.Com, BBM and B.Com Professional Courses
attended the programme. G.V. Srinivasa Murthy, Chairman, Bangalore
Chapter of the ICSI spoke about the role of a Company Secretary and
importance of the profession of Company Secretary in the changing
economic scenario. He also highlighted the opportunities available to
anyone who has completed the Company Secretaryship course. He
further enumerated the emerging areas of practice and the changing
role of a Company Secretary. He also focused on what would be the
mindset and preparation required from a student who would like to
pursue the Company Secretaryship Course.
Dwarakanath C., Vice-Chairman, Bangalore Chapter of the ICSI
then explained in detail the course offered by the Institute and the
criteria for eligibility for the course, examination, requirements of training
etc. He also highlighted the importance of making the right career
choice so as to be successful in life.
Brochures containing brief details of the Company Secretaryship
Course were distributed to the participants.
G.V. Srinivasa Murthy also clarified the doubts and issues those
were raised by the participants and thanked the management for
providing the Institute the opportunity for conduct of the career
awareness programme.
MANGALORE CHAPTER
VISIT OF PAST PRESIDENT, THE ICSI TO CHAPTER OFFICE
AND HONOURING OF RANK HOLDERS IN C S
EXAMINATIONS
On 15.6.2007 Dr.P.V.S. Jaganmohan Rao, Past President of the
ICSI visited the Chapter Office at Mangalore to address and interact
with the students and members of the Institute from Mangalore and
adjourning areas. Dr. Rao in his address shared his vast and extensive
knowledge with regard to the profession and apprised the students of
the mode of registration, syllabus, structure of the course and also
revenues available to the profession both in employment and in
practice. He enjoined on the students to concentrate on this studies
and not to think about the results. He also gave a number of tips and
35 July 2007
 News and Announcements
how to study for professional courses. In the feedback session the
students participated with keen interest in the proceedings.
On the occasion he also honoured and felicitated Rajesh Pai, 1st
Rank holder in the June 2006 session of Final examination of the
Institute and Bhavya Parvati, 19th Rank holder in the June 2006 session
of Foundation Examinations. He also presented them mementoes.
MYSORE CHAPTER
CAREER AWARENESS/GUIDANCE PROGRAMMES
On 16.5.2007 The Chapter organised a talk on Role of Company
Secretaries in Indian Economy. Again on 23.5.2007 a talk on Corporate
Governance was arranged by the Chapter at JSS Law College, Mysore.
Yet again on 31.5.2007 a talk on Company Secretary A Powerful
Catalyst was organised. The talk each day was followed by a career
awareness programme where the ICSI Corporate CD was screened.
Handouts were distributed to the participants and queries regarding
the course were replied by the members of the Managing Committee
of the Chapter. A good number of students and members were present
in each programme.
A Career Guidance programme was held at St. Thomas School,
Vidyaranyapuram, Mysore, Anshuman A.S., Member Managing
Committee addressed the participants. The meeting was attended by
more than 200 students who were introduced to the dream of becoming
a company secretary professional. Brochures detailing the course
contents were also distributed to the students.
CHAPTER LEVEL ELOCUTION COMPETITION
On 24.6.2007 the Chapter level elocution competition was held.
The panel of judges comprised of CS. G. D. Rama Rao and Principal
of Sharada Vilas Law College, Bollamma.
The event was well attended by students and members.
Participation prizes, sponsored by CS. D.D. Bhat, Chapter Chairman
was presented to all the participants. The judges explained the
shortcomings of the contestants and provided guidance for their
improvement. The following students were selected for representing
the Chapter at the Semi-Final Level: 1. Rashmi M.R. 2. Venkatesh
Prasad.
THIRUVANANTHAPURAM CHAPTER
INAUGURATION OF INTERMEDIATE GROUP II ORAL
COACHING CLASSES AND SEMINAR ON AUDITING AS A
TOOL OF MANAGEMENT
On 20.6.2007 the 38th batch of Intermediate Group II Oral Coaching
Classes was inaugurated by G. Raman Pillai, FCS at the inaugural
function held at Seminar Hall of the Chapter Office. The meeting was
Chaired by P.R. Narayanan Nair, Chapter Chairman. The meeting was
followed by a seminar on Auditing as a Tool of Management and CA.
Sridhar, FCA addressed the session and enlightened the participants
on various aspects of Auditing and also made a detailed presentation
on different types of Auditing and its impact on the Management of an
organization. The meeting was attended by more than 31 participants,
which included students and members.

AHMEDABAD CHAPTER

The ICSI Ahmedabad Chapter organises

8th All India Students Conference
Theme: Integrating Professional Skills & Soft Skills for Excellence
On 10th & 11th August, 2007 TWO
ADP DAYS

.HE@=O5=JKH@=O CRDT

Venue: Shri B.D Rao Sanskritik Sankul

Near Bhuyangdev Char Rasta, Memnagar, Ahmedabad - 380 005
Fee: Rs. 475/- (Non-Residential),
Rs. 675/- (Residential For outstation Students only)
For Further Information Contact:
The ICSI Ahmedabad Chapter:
S-2 B, Chinubhai Tower, Opp. Handloom House, Ashram Road, Ahmedabad-380009.
Telephone: 079-26589343; 32918705; Fax: 079-26587965, M-+91-9879765656,
E-mail: ahmedabad@icsi.edu

Student Company Secretary 36 July 2007

 SMTP ORGANISED BY H.Q./REGIONAL COUNCILS/CHAPTERS
ELIGIBILITY OF PARTICIPANTS : ICSI final passed candidates. SMTP COURSE CONTENTS : Module I-Filling and Filing of
Forms under the Companies Act, 1956. G Module II-Practical and Procedural Aspects of Convening and Conducting Board
Meetings & Annual General Meetings and Related Aspects. G Module III-Managing Public Issues. G Module IV-Loan
Documentation, Joint Ventures & Foreign Collaborations, Raising Finance through EURO Issues & Export and Import Procedures
and Documentation. GModule V-Practical and Procedural Aspects relating to Appearance before CLB/Under SICA, Consumer
Protection Act and Case Studies in RTP/UTP. In addition, the participants would be exposed to case studies and mock board/
general meeting, etc.

Organised by Duration of the Venue of Programme Contact Address

Programme

SIRC of 18.07.2007 SIRC Premises Deputy Director, SIRC of the ICSI, ICSI-SIRC House, New No. 9, Wheat
the ICSI to Crofts Road, Nungambakkam, Chennai-600034 Tel. : 044-28279898/
03.08.2007 28268685 E-mail : siro@icsi.edu/icsisiro@md3.vsnl.net.in.

Hyderabad 18.07.2007 Chapter Programme Coordinator, The ICSI-Hyderabad Chapter, # 6-3-609/5,

Chapter of SIRC to Premises Anand Nagar Colony, Khairatabad, Hyderabad-500004 Tel. : 040-
of the ICSI 03.08.2007 23399541/23396494 Fax No. : 23325458 E-mail : hyderabad@icsi.edu
EIRO of the 03.09.2007 EIRO Executive Officer, EIRO of the ICSI, ICSI-EIRC Building, 3-A, Ahiripukur,
ICSI to Premises 1st Lane, Kolkata-700019 Tel. No.22832973/22816541, Fax:033-
19.09.2007 22816542, E.Mail: eiro@icsi.edu
CCRT of the 22.09.2007 CCRT Programme Coordinator, CCRT of the ICSI, Plot No. 101, Sector-15,
ICSI to Premises Institutional Area, CBD Belapur, Navi Mumbai-400614 Tel. : 022-
07.10.2007 27577814/ 15/16 Fax No. : 022-27574348 E-mail : ccrt@vsnl.com,
(19th Residential) ccrt@icsi.edu
S.M.T.P

The schedule of other SMTPs proposed to be conducted by NIRC, SIRC, Bangalore Chapter & Hyderabad Chapter during 2007 is as under:
NIRC : (i) 18.09.07 to 05.10.07 (ii) 28.11.07 to 14.12.07 SIRC : (i) 18.09.07 to 04.10.07 Bangalore Chapter : 10.09.07 to
27.09.07, Hyderabad Chapter : (i) 17.09.07 to 04.10.07.

SCHEDULE OF ACADEMIC DEVELOPMENT PROGRAMMES (ADP)

Every student of the Institute, 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). 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.
Fee Rs. 250/- per participant
The Schedule of ADPs proposed to be organized by the Regional Councils/Chapter is as under :-

Organised by Duration of the Venue of the Programme Contact Address

the Programme
SIRO of 18.08.2007 SIRO Premises Deputy Director, SIRO of the ICSI, ICSI-SIRC House, New No. 9, Wheat
the ICSI Crofts Road, Nungambakkam-600034 Tel. : 044-28279898/28268685/
E-mail : siro@icsi.edu/icsisiro@md3.vsnl.net.in.

Hyderabad 11.08.2007 Chapter The ICSI-Hyderabad Chapter, # 6-3-609/5, Anand Nagar Colony,
Chapter Premises Khairatabad, Hyderabad-500004 Tel. : 23399541/ 23396494 Fax
No. : 23325458 E-mail : hyderabad@icsi.edu
EIRO of 18.08.2007 EIRO Premises Executive Officer, EIRO of the ICSI, ICSI-EIRC Bldg., 3-A, Ahiripukur
the ICSI 1st Lane, Near Beck Bagan Nursing Home, Kolkata-700019
Tel. : 22832973/22816541 Fax No. : 033-22816542
E-mail : eiro@icsi.edu
NIRC of 18.08.2007 NIRC Premises Executive Officer, NIRC of the ICSI, ICSI-NIRC Building, Plot No. 4,
the ICSI Prasad Nagar, Institutional Area, New Delhi-110005 Tel. : 25763090/
25767190, 25816593 Fax : 25722662 (STD CODE : 011)
E-mail : niro@icsi.edu/icsi@eth.net

The schedule of other ADPs proposed to be conducted by SIRC and NIRC during the year 2007 is as under SIRC : 15.11.2007, NIRC:
(i) 15.09.2007 (ii) 13.10.2007 (iii) 17.11.2007 (iv) 15.12.2007.

Student Company Secretary 37 July 2007

 SCHEDULE OF TRAINING ORIENTATION PROGRAMMES (TOP)
Organised by Duration of the Venue of the Programme Contact Address
the Programme
EIRO of 26.10.2007 EIRO Premises Executive Officer, EIRO of the ICSI, ICSI-EIRC Bldg., 3-A, Ahiripukur
the ICSI to 1st Lane, Near Beck Bagan Nursing Home, Kolkata-700019
31.10.2007 Tel. : 22832973/22816541 Fax No. : 033-22816542
E-mail : eiro@icsi.edu
NIRC of 06.08.2007 NIRC Premises Executive Officer, NIRC of the ICSI, ICSI-NIRC Building, Plot No. 4,
the ICSI to Prasad Nagar Institutional Area, New Delhi-110005 Tel. : 25763090/
10.08.2007 25767190, 25816593 Fax : 25722662 (STD CODE : 011)
E-mail : niro@icsi.edu/icsi@eth.net
Hyderabad 03.09.2007 Chapter Programme Coordinator, The ICSI-Hyderabad Chapter, # 6-3-609/5,
Chapter of to Premises Anand Nagar Colony, Khairatabad, Hyderabad-500004 Tel. :
SIRC of the 08.09.2007 040-23399541/ 23396494 Fax No. : 23325458 E-mail : hyderabad
ICSI @icsi.edu

Kanpur Chapter 19.09.2007 Chapter Premises Kanpur Chapter of NIRC of the ICSI, 118/90, "GUMTI PLAZA"
of NIRC of the to Kausalpuri, Gumti, No. 5, Kanpur-208012 Tel. 0512-2296535
ICSI 14.09.2007 Fax: 0512-2212767, E-mail : kcics@sancharnet.in &
kanpur@icsi.edu

The schedule of other TOP proposed to be organised by NIRC during 2007 is as under:
NIRC : 10.09.2007 to 14.09.2007

STATUS OF TRAINING
(Period from 01-06-2007 to 30-06-2007)
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. of students Pending
Training as on during the consideration as on as on during who have actually as on
Type 31.05.07 month (upto 30.06.07) 30.06.07 31.05.07 the month taken for training 30.06.07
(upto 30.06.07)
15 Months in 10 81 69 22 25 30 35 20
Companies

15 Months with 05 18 16 07 15 81 79 17
CS in Practice

3 Months in NIL 57 57 NIL

Company/
15 Days in
Optional Area

2. Exemption
1. Number of applications pending as on 31.05.2007 : 15
2. Number of applications received for exemption : 41
3. Number of exemptions granted : 43
4. Number of pending applications as on 30.06.2007 : 13

Student Company Secretary 38 July 2007

LIST OF THE COMPANIES REGISTERED FOR Equi-Derive India Private Limited 15 Months 4500-
IMPARTING TRAINING DURING THE MONTH OF MAY, "Ideal Plaza", Suite N 316 Training 5000
2007 3rd Floor, 11/1 Sarat Bose Road
Kolkata-700020
Region Training Stipend The Dhamra Port Company Limited 15 and 03 Suitable
Type (Rs.) 2nd Floor, Fortune Towers Months
NORTHERN Chandrasekharpur Practical Training
Nu Tek India Limited 15 Months Suitable Bhubaneswar-751023
B-27, Infocity, Sector-34 Training
Gurgaon-122002
LIST OF PRACTISING MEMBERS REGISTERED FOR
Arvind International Limited 15 Months Suitable
THE PURPOSE OF IMPARTING APPRENTICESHIP
131, Vrindavan Vihar Training TRAINING DURING THE MONTH OF MAY, 2007
DCM, Ajmer Road, Jaipur-302019 BIMAN DEBNATH PCSA-1484
Planet Retail Holdings Pvt. Ltd. 3 Months Suitable Jagodish Ghosh Lane
7th Floor, Tower-A, Infinity Tower Practical Training Bishnupur, Gopinath Nagar, Guwahati-781016
DLF Cyber Citi, DLF Phase-II
Gurgaon-122002 MONICA CHORARIA PCSA-1485
Gold Plus Toughened Glass Limited 15 Months Suitable 411, Utsang, Sector-1, Chitrakoot
Gold Plus House, G-192, Training Jaipur-302021
Prashant Vihar, Delhi-110085 S RAGHAVAN PCSA-1486
Knorr-Bremse India Pvt. Ltd. 15 Months Suitable 126/18, 2nd Floor, 8th Cross
14/6, Mathura Road Training Wilson Garden, Bangalore-560027
Faridabad-121003
PRATIMA BADJATIYA PCSA-1487
WESTERN Jain Gupta & Company
Bodal Chemicals Limited 15 Months Suitable 4th Floor, Silver Ark Plaza
Plot No. 123/124, Phase-1 Training 20/1, New Palasiya, Indore-452001
G.I.D.C., Vatva, Ahmedabad-382445
KUBER KUMAR SAHLOT PCSA-1488
Pantaloon Retail (India) Ltd. 15 and 03 Suitable
"Knowledge House", Shyam Nagar Months Practical Above Agarwal Color Lab
Off Jogeshwari - Vikhroli Link Road Training 2, Delhi Gate Circle, Udaipur-313001
Jogeshwari (East), Mumbai-400060 SWATI BOTHRA PCSA-1489
Voltamp Transformers Limited 15 Months Suitable H.No. 1857, Pulander Ji Ki Gali
Makarpura, Vadodara-390014 Training Ram Lal Ji Ka Rasta, Johari Bazar,
Gujarat Jaipur-302003
Godrej Beverages & Foods Ltd. 15 and 03 Suitable MANISH KUMAR AGARWAL PCSA-1490
Pirojshanagar Months Practical 29-B, Rabindra Sarani, 3rd Floor,
Eastern Express Highway Training
Room No. 12-W, Kolkata-700073
Vikhroli (East), Mumbai-400079
Indiabulls Real Estate Limited 15 Months Suitable RAKESH KUMAR SINGH CHAUHAN PCSA-1491
S.P. Centre, C-Wing, 41/44, Training WZ-79, Todapur, IARI, Pusa
Minoo Desal Marg, Near Radio Club New Delhi-110012
Colaba, Mumbai-400005 MANISH KUMAR SHRIVASTAVA PCSA-1492
Stemcor India Pvt. Ltd. 15 Months Suitable Ground Floor, Tiwari Tower
Block 16, Garden Court Complex Training Beside UTI Bank, Rewa Road,
Phoenix Mills Compound Satna (M.P.)
462 Senapati Bapat Marg
Lower Parel (W), Mumbai-400013 N SRIDHARAN PCSA-1493
Ravel Metals Pvt. Ltd. 15 Months Suitable No. 5, B Wing Third Floor, Parsn Manere
55/25, Ramwadi, Kalbadevi Road Training 442 (Old No. 602), Anna Salai, Chennai-600006
Mumbai-400002 ASHOK KUMAR GULGULIA PCSA-1494
Transworld Shipping (I) Pvt. Ltd. 15 Months 5000 7 A Bentinck Street, 4th Floor
4th Floor, Geetmala Building Training Room No. 401, Kolkata-700001
Next to Shah Industrial Estate
KRISHNA MURTHY V.C. PCSA-1495
Govandi (East), Mumbai-400088
No. 5/1, 7th Main, Opp. Brilliant's College,
Kumar Housing & Land Development Ltd. 15 Months Suitable Kattriguppe, BSK III Stage, Bangalore-560085
Kumar Capital, 2nd Floor Training G.M. GANAPATHI PCSA-1496
2413, East Street, Camp No. 53, 2nd Floor, Sham Singh Complex
Pune-411001
Gandhi Bazar, Main Road, Bangalore-560004
AD-Manum Finance Limited 15 Months Suitable MOHAMMAD AABID HAROON RASHEED PCSA-1497
Agarwal House, 5, Yeshwant Colony Training
68, Sai Sadan, 3rd Floor, Office No. 8
Ground Floor, Indore-452003, M.P.
Janma Bhoomi Marg, Fort, Mumbai-400001
EASTERN
VIDYADHAR B PHADKE PCSA-1498
Krypton Industries Limited 15 Months Suitable Shop No. 4, Jeet Co-Op. Hsg. Soc.
410, Vardaan Building Training Lokmanya Colony, Off Paud Road
25A, Camac Street
Pune-411038
Kolkata-700016
Student Company Secretary 39 July 2007
 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, 2007 at EIRO of the ICSI, 3A, Ahiripukur 1st Lane , 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 who have passed the Final CS Examination but undergoing training shall not be eligible to participate in the
competition. The winners from each Chapter level event consisting of not more than two students would be participating in the Regional
Level programme. 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, 4th August, 2007. The Chapter should conduct Preliminary round on or before 16th July, 2007 and Regional
Councils should conduct the Semi final round on or before 23rd July, 2007. After the Semi final round the Regional Councils are requested
to send the details of the students representing their Regional Council (Names, Registration No. passport size photographs alongwith
marks obtained) for the National round to be held at EIRC of the ICSI latest by 26th July, 2007.

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, 2007 without payment of Delegate fee. Moreover, a Certificate of Participation would also
be issued to all the participants of the National Company Law Quiz by EIRC.

For further details, 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, 36A, Shakespeare Sarani, Kolkata - 700017
Day & Date : Saturday, 28th July, 2007
Timing : 09.00 AM to 6.00 PM
Faculty : Eminent faculty from Government, Management Consultant and Sr. Members of the Profession will address.
Participation Fee : Rs 500/- per student
FOR ENROLMENT CONTACT :
Executive Officer/Administrative Officer-EIRO of The ICSI,
3A, Ahiripukur 1st Lane, Kolkata-700019, Tele: 033-22871873, 22816542 [M] 9231972411
NOTES :
1. 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.edu
2. The papers to be presented at the Conference will be by a panel of experts.
3. The best paper writer will be duly recognized at the Conference.
4. The selected papers will be published in the Souvenir. The papers may please be arranged to be sent at the earliest to EIRO.
5. Interested students may register themselves as early as possible.

Student Company Secretary 40 July 2007

5TH ALL INDIA MOOT COURT COMPETITION 2007
The Institute of Company Secretaries of India-Bangalore Chapter jointly with Surana & Surana International Attorneys,
Chennai is organising the 5th All India Moot Court Competition 2007 on Friday, Saturday and Sunday, the 17th, 18th, and
19th August, 2007 at The Institute of Agricultural Technologies, First Floor, No.15, Queens Road, (opposite to Sanjay Vani
Office), Bangalore - 560 052.
It will be a three tier programme:
- CHAPTER LEVEL - REGIONAL LEVEL - NATIONAL LEVEL
All the Chapters / Satellite Chapters in the first instance would organize Moot Court Competition for the Students at their
level. One winning team from each chapter level competition (consisting of not more than four students) would be participating
in the Regional Level Competition to be held at their respective Regions. The winners and runners up of each Region would
be participating in the National Level Competition to be held at Bangalore.
The winning team of the Moot Court Competition will be presented the rolling shield in the 35th National Convention of
Company Secretaries scheduled to be held from 20th 22nd September, 2007 at Jaipur.
The expert team from Surana & Surana International Attorneys, will be visiting all the four Regional Offices to conduct
the Regional Level Competition as per schedule mentioned below:
Dates
Round Orientation Preliminary Semi-final and Venue
Rounds final rounds

East 21st July 2007 22nd July 2007 22nd July 2007 ICSI EIRC Building, 3-A Ahiripukur I
Lane, Kolkata 700 019, Ph: 033 - 2281
6541/ 2283 2973
North 3rd August 2007 4th August 2007 5th August 2007 ICSI-NIRC Building, Plot No 4, Prasad
Nagar Institutional Area, Rajendra Place,
New Delhi 110 005 Ph: 011 2576 3090 /
2576 7190
South 28th July 2007 29th July 2007 30th July 2007 ICSI SIRC House, Old No 4 New No. 9,
Wheat Crofts Road, Nungambakkam,
Chennai 600 034, Ph: 044 - 2822 2212/ 2827
9898
West 11th August 2007 12th August 2007 13th August 2007 Vadadara Chapter of WIRC of the ICSI,
Office No. 1 (2nd Floor), Stop - N - Shop
Plaza (Offtel Tower II), R.C. Dutt Road,
Vadodara - 390007 Phone No. 0265-
2331498
NATIONAL 17th August 2007 18th August 2007 19th August 2007 The Institute of Agricultural Technologies,
I Floor, No 15, Queens Road, (Opp. Sanjay
Vani Ofice) Bangalore 560 052
The rules & regulations and the case for the competition is available at the local Chapter/Regional Councils and also can be
downloaded from the website of the Institute : www.icsi.edu
For any further assistance please contact

THE EXECUTIVE OFFICER

The ICSI-Bangalore Chapter
Sheriff Chambers, 3rd Floor, Rear Block
14, Cunningham Road, Bangalore 560 052, Tel. No.: 22286574, 22261861, 22287158
Email: bangalore@icsi.edu, icsibc@sify.com
 COMPANY SECRETARIES EXAMINATIONS DECEMBER, 2007
TIME TABLE & PROGRAMME
MORNING SESSION AFTER-NOON SESSION
9.30 AM TO 12.30 PM 1.30 PM TO 4.30 PM
DATE AND
FINAL FOUNDATION INTERMEDIATE
DAY
26.12.2007 Advanced Company General and Commercial Laws
Regn. No. 42947/84

Wednesday Law and Practice

27.12.2007 Secretarial Practice relating to
Thursday Economic Laws and Drafting Company Accounts and Cost &
& Conveyancing Management Accounting
Posting Date : 20/21-07-2007

GROUP-I
28.12.2007 Secretarial, Management Tax Laws

GROUP-I
Friday and Systems Audit
29.12.2007 Financial, Treasury Management Information Systems
Saturdary and Forex Management & Corporate Communication
30.12.2007 Corporate Restructuring English and Business Company Law
Sunday Law and Practice Communication
31.12.2007 Banking and Insurance Basic Economics & Company Secretarial Practice

GROUP-II
Monday Law & Practice Business Environment
01.01.2008 World Trade Organisation
Tuesday International Trade, Financial Accounting Economic, Labour and Industrial Laws
Joint Ventures and
Foreign Collaborations GROUP-II
02.01.2008 Direct and Indirect Taxation Elements of Business Laws Securities Laws and Regulation
Wednesday Law and Practice and Management of Financial Markets

GROUP-III
03.01.2008 Human Resources Management and Information Systems and
Thursday Industrial Relations Quantitative Techniques

Delhi.

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THE INSTITUTE OF COMPANY
their Registration Number in all
Students are requested to quote