Group “A” corporate law services are used to deal with matters related to the operation of companies in India. There are many opportunities with attractive salary ranges for the respective grades of the ISTC executive. Let`s look at the detailed grades, designations and salary tables of ISTC executives in India. Careers in the Indian Corporate Law Service (ICLS) – Indian corporate law services were formerly known as corporate law services. The primary role of TSIS officers is to ensure the implementation, optimal use and administration of the Indian Companies Act, 2013. The Indian Corporate Law Services (ICLS) is part of Group A services of the UPSC framework. An aspirant who is ready to get a job as an ICLS agent must pass the UPSC CSE exam. The ICLS agent is an expert service that combines knowledge from different currents such as law, auditors and public services. The work description for STISTC agents is a job based on knowledge and experience. LSIC officers are responsible for meeting all compliance requirements covered by government tax returns, regulations, policies and procedures under other corporate legislation. Question 4: How long does the Initial Company Law Training Program for Indian Probation Officers (ICLS) last? Answer: The duration of the initial training of probationary officers of the Indian Company Law Service (ICLS) is ten months according to the Indian Institute of Corporate Affairs (IICA).
Training is also organized for other supervisory authorities and specialized organizations affiliated to the Ministry of Enterprise. In addition, the Institute may also organize training courses for public sector enterprises operating in the enterprise sector. It was established in 1967 as the unit responsible for administering the Companies Act, in 1956 as the Company Law Department, and was renamed the Indian Company Law Service in 2002. The service operated under the Department of Enterprise Affairs until 2004, after which an independent ministry called the Ministry of Corporate Affairs was established to manage the business sector in India. The service was renamed the Indian Corporate Law Service in 2008 and incorporated into the Public Service Examinations Section. [1] The first group of public servants recruited for the Public Service Audit was included in 2009. The decision to integrate ICLS into the public sector was crucial in regulating the complex business landscape that is changing day by day. Since 2016, the Director General of Corporate Affairs (DGCoA) has been the Chief Bureaucrat of the ISTC, the equivalent of the position of Secretary of the Union of India. ICLS officers are offered different tasks depending on their degree and rank. The primary liability of the ICLS officer is under the Limited Companies Act, the Companies Act, the Partnerships Act, the Indian Penal Code and other company laws. Below are the main tasks and responsibilities of the Indian Company Law Service (ICLS) officers. The Indian Corporate Law Service (ICLS) is one of the Group “A” options for candidates who have passed the UPSC Civil Service Examination.
Access to this service through CSE UPSC only began in 2009. The main responsibility of this “A” Group unit is the implementation of the Companies Act 1956, the Companies Act 2013 and the Limited Liability Companies Act 2008 (LLP Act). The article talks about the Indian Corporate Law Service (ICLS), functions, education, hierarchy and salary. We Indian Lawyers Services Law Offices was established in 2002 and is a professionally managed commercial law firm providing legal services. We have legal advice. Our services include litigation, Supreme Court practice, arbitration and dispute resolution services. Indian Lawyers Services Law Office is based in New Delhi, but has a strong national and international network of lawyers and law firms. The affiliates are located in all major cities of India including Mumbai (Mumbai), Chennai (Madras), Kolkata (Kolkata), Punjab & Haryana, Lucknow, Allahabad. etc.
The ISTC was established in 1967 for the effective implementation and administration of the Companies Act. Originally, the service was called the Corporate Law Department. In 2002, it was renamed Indian Company Law Service. It was renamed Indian Corporate Law Service in 2008 when its recruitment was integrated into the UPSC CSE. Thus, the first group of officers recruited into the ISTC through the Public Service Review took place in 2009. Until 2004, the service was under the Ministry of Finance. Since then, it has been subordinate to the Ministry of Corporate Affairs. The faculty to participate in the training courses of ICLS agents is invited among leading experts in the field of company law, other laws, finance, economics, human resource management and information technology as guest speakers.
Faculties are modified after receiving feedback from POs and other trainees to reflect the educational environment. ISTC officers have diverse career opportunities during their careers following their appointment by the Indian Institute of Corporate Affairs (IICA). Below are the career prospects for ISTC officers. Question 2: What are the recruitment criteria for the first and second positions of the Indian Company Law Department in India? Answer: Hiring for the first position is 60%, while for the second position, hiring for Indian Company Law Services in India is 40%. Senior Deputy Director, Serious Fraud Investigation Bureau (SFIO) CAO, Indian Institute of Corporate Affairs, Manesar We hope this information about careers in Indian corporate law services has helped you. If you have any questions, you can ask us and we will answer you. Use the comments section below for questions and comments. Official liquidators are officials appointed by the central government and assigned to various supreme courts. Official liquidators report to the respective regional directors, who oversee their work on behalf of the ministry. The official liquidator is responsible for the liquidation of companies ordered to be liquidated by the High Court for several reasons, the most common of which is the inability to pay its debts.
The liquidation process includes taking possession of the assets of a company ordered to be liquidated, auctioning the assets of the company, collecting debts owed to the company, inviting creditors to make a claim, settling claims so received, distributing funds to creditors and contributors, the prosecution of the directors of the company in the event of fault and the eventual dissolution of the company. Corporate. A liquidator is attached to each High Court. It should be noted that with the implementation of the Companies Act 2013, official liquidators would be assigned to the national courts of the companies to be incorporated. [4] Deputy Secretary of the Government of India on Deputation through the Central Staffing System (CSS for AIS and Group A Organized Central Services) ICLS officers serve as Regional Director (RD) with legal approval and as Senior Head with central government roles under the Companies Act 2013. The Trade Register (ROC) and the Official Liquidator (OL) are managed in accordance with the order of the Regional Director of Companies. All ISTC officers are appointed based on the ranks and titles provided by ISTC executives. The Companies Act 2013 has been notified. The Ministry of Corporate Affairs has requested that all officials working in the offices of the Regional Director/Company Registrar in India undergo a two-day workshop training program on the Companies Act, 2013, Electronic Rules and Forms and related issues at IICA, Manesar. The ICLS Academy conducts these programs at IICA, Manesar, and has trained approximately 162 officers/officers as of July 2014. There are approximately 225 officers and public servants expected to be trained under this program.
The role and functions of all the above-mentioned bodies are defined either in the Companies Act 2013 or in regulations issued by the central government in the exercise of its statutory powers. For example, positions such as the commercial register or the official liquidator are statutory bodies, but positions such as regional director or director-general of inspection and investigations are positions created by the central government in the exercise of its powers. In addition to traditional roles, ISTC officials, as ROCs in their respective jurisdictions, are members of state-level coordinating committees, regional economic information committees, market information groups, and several other groups that share economic intelligence with income tax and CBIC. as well as with state government intelligence services. Here is a brief description: Company registrars are responsible for individual states, and Union territories have the primary duty to register companies and limited liability companies (LLPs) established in the respective states and Union territories and to ensure that these companies and LLPs comply with the legal requirements of the law, such as the periodic filing of annual reports and balance sheets. Change of management of the company, etc. The Department exercises administrative control over these offices through the respective Regional Directors. Companies operating in India must comply with all legal requirements and it is the duty of the Commercial Registry Office to ensure that all standards are met and violations are brought to the books. The RoC is entitled to take action against companies that do not submit the required documents on time or provide incorrect/incomplete information. The registered documents will be made available to shareholders, investors and the general public via an MCA21 online portal for a small fee.