Indian Corporate Law Service

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The Indian Corporate Law Service, also known as ICLS, is a Central Civil Service (Group A) that reports to the Indian government’s Ministry of Corporate Affairs. The service is in charge of carrying out the Limited Liability Partnership Act of 2008, the Companies Act of 2008, and the Companies Act of 2013.

The Company Law Service, which was established in 1967 as a service to manage the Companies Act of 1956, was renamed the Indian Company Law Service in 2002. Up until 2004, the service was run by the Ministry of Finance’s Department of Company Affairs; however, in 2004, a separate ministry known as the Ministry of Corporate Affairs was established to oversee India’s corporate sector. In 2008, the organization changed its name to Indian Corporate Law Service and joined the Civil Services Examination.

List Of Contents

Roles and Responsibilities

To administer the Companies Act, the LLP Act and a few other related acts.
As Registrar of Companies (RoC), the officers register the companies and partnerships floated. It is their duty to ensure that all the companies are filing their annual returns and balance sheets, and all other documents. The RoC can also carry out an investigation and initiate prosecution against criminal and civil offences in this regard.
As Official Liquidators (OLs), the officers are responsible for liquidating the companies as ordered by the courts. They are responsible for taking control of the companies’ assets, recover debts, sell the company assets via public auction, settle creditors’ claims, etc.
As Regional Directors (RD), the officers are the heads of the Regional Directorates. The RD is the senior-most ICLS officer in a region, there being seven Regional Directorates in India. The RDs supervise the work of the RoCs and the OLs.
The overall mandate for the service is to empower and regulate the corporate sector for this country and to protect the rights of the investors, particularly small investors.

Training of the Officers

The Probationary Officers (POs) of the Indian Corporate Law Service have been entrusted with receiving their induction training at the ICLS Academy, which is housed on the Manesar Campus of the Indian Institute of Corporate Affairs (IICA).

Every year in December, after finishing a three-month Foundation course at another Academy, the POs of ICLS, who were selected through the Civil Services Examination administered by UPSC, enroll in the ICLS Academy. As soon as they have completed their induction training, POs are welcomed into the various offices under the Ministry of Corporate Affairs. The Induction Training currently lasts for 10 months.

It is suggested that the training be broken up into three phases that combine classroom instruction and on-the-job field training. Depending on the situation, the length of each of the three phases can be changed.

Classroom instruction is provided at the IICA’s Manesar location (Gurgaon).

The offices of the Registrars of Companies, Official Liquidators, Regional Directors, Company Law Board, Serious Frauds Investigation Office, and Ministry of Corporate Affairs are where the OTs are attached for their field training. In addition to the aforementioned, they receive instruction at ISTM, NIFM, NISM, SEBI, RBI, BPST, and other pertinent Institutions.

Designations in the Service

In the cadre of ICLS there are 291 sanctioned posts. In the Ministry of Corporate Affairs, these individuals hold the positions of Director General, Director Investigation & Inspection, Joint Director, Dy. Director, and Assistant Director.

Regional Director, Joint Director, Dy. Director, and Assistant Director positions are available in the RD office.

The Registrar of Companies, the Deputy Registrar of Companies, and the Assistant Registrar of Companies make up the organisational structure at the ROC offices.

Similar positions include Official Liquidator, Dy. Official Liquidator, and Assistant Official Liquidator at OL offices.

The hierarchical designations of the officers are given below based on the time scale

Designation of ICLS Officer

Source: Wikipedia

Description of job of an ICLS Offcier

All of the aforementioned positions’ roles and responsibilities are either specified in the Companies Act of 2013 or in rules created by the Central Government under the authority granted to it by the act. For instance, positions such as the Official Liquidator or the Registrar of Companies are statutory positions, whereas positions such as Regional Director or Director General of Inspection and Investigation were formed by the Central Government via the exercise of its authority.

In addition to their traditional roles, ICLS officers serving as ROCs in their respective jurisdictions participate in a number of groups that share economic intelligence data with state government intelligence organizations as well as Income Tax and CBIC. These groups include regional economic intelligence committees, market intelligence groups, and market intelligence committees.

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Indian Corporate Law Service

Roles and Responsibilities

Training of the Officers

Designations in the Service

Description of job of an ICLS Offcier

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