01 March 2011
How a company can be associated with ICSI to impart 15/3 months training. What are the requirements other than a company should have paid up capital of Rs. 50 Lacs. Can a private limited company who does not have full time CS in employement be associate with ICSI. Please clarify in detail.
20 July 2024
To become an approved training entity with ICSI (Institute of Company Secretaries of India) for imparting practical training (articleship) to CS students, a company must fulfill certain requirements beyond having a paid-up capital of Rs. 50 lakhs. Here are the detailed requirements and clarifications:
### Requirements to Associate with ICSI for CS Training:
1. **Paid-up Capital**: The company must have a paid-up capital of at least Rs. 50 lakhs.
2. **Full-Time Company Secretary**: Ideally, the company should have a full-time Company Secretary (CS) in employment. This CS acts as the training principal who supervises and guides the CS trainee during their practical training.
3. **Nature of the Company**: - **Private Limited Company**: A private limited company can associate with ICSI for training purposes, even if it doesn't have a full-time CS on its payroll. However, the company must appoint a practicing Company Secretary as the training principal to oversee the training program.
- **Listed Companies and Public Sector Undertakings**: These entities can also become training entities, provided they fulfill the criteria and have a practicing CS as the training principal.
4. **Agreement with ICSI**: The company must enter into an agreement with ICSI outlining the terms and conditions of the training program. This agreement typically covers the responsibilities of both the company and the CS trainee, the duration of training, reporting requirements, and other relevant details.
5. **Training Infrastructure**: The company should have adequate infrastructure and resources to provide practical training in company secretarial functions, corporate governance, compliance, and other related areas.
6. **Recognition by ICSI**: Before commencement of training, the company needs to obtain recognition from ICSI as an approved training entity. This involves submitting an application to ICSI along with supporting documents to demonstrate compliance with the training guidelines.
### Steps to Associate with ICSI:
- **Contact ICSI**: Contact the nearest ICSI chapter or visit the official ICSI website for detailed guidelines and application procedures.
- **Submit Application**: Prepare and submit the application for recognition as a training entity, providing all necessary details and supporting documents.
- **Agreement Signing**: Upon approval, enter into an agreement with ICSI regarding the training program and responsibilities.
- **Commence Training**: Once recognized, the company can commence the training program under the supervision of the designated training principal (practicing CS).
### Conclusion:
While having a full-time Company Secretary is preferred, a private limited company can still associate with ICSI for training purposes by appointing a practicing Company Secretary as the training principal. This setup ensures that CS students receive structured and practical training in accordance with ICSI guidelines, preparing them effectively for the CS Professional Programme.
For the most accurate and updated information, it's advisable to consult the official guidelines from ICSI or contact their student services department for clarification and assistance in the application process.
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