The Indian Corporate Law Service (ICLS) is one of the Group ‘A’ services options available for candidates who have successfully cleared the UPSC Civil Service Examination. Entry to this service through the UPSC CSE commenced only in 2009. The chief responsibility of this Group “A” service is the implementation of Companies Act, 1956, Companies Act, 2013 and The Limited Liability Partnership (LLP Act), 2008. The article talks about the Indian Corporate Law Service (ICLS), functions, training, hierarchy and salary.
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Indian Corporate Law Service (ICLS) – History
The ICLS was established in 1967 for the effective implementation and administration of the Companies Act. Originally, the service was named Company Law Service. In 2002, it was renamed as Indian Company Law Service. It was again renamed as Indian Corporate Law Service in 2008 when its recruitment was brought under the ambit of the UPSC CSE. Thus the first batch of officers recruited into the ICLS through the civil services exam was in 2009. Until 2004, the service functioned under the Ministry of Finance. Since then it has functioned under the Ministry of Corporate Affairs.
Indian Corporate Law Services (ICLS) – Roles & 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.
Indian Corporate Law Service (ICLS) – Grade & Pay Scale
This is Group “A” service entrusted with the task of handling matters concerning companies functioning in India. ICLS cadre has an attractive career option with ample opportunities for promotions and good pay scales for the respective grades.
Below table gives information on grades and pay scales of ICLS Cadre
|Junior Time Scale||1. Registrar of Companies
2. Official Liquidator
3. Registrar of Companies cum Official Liquidator
4. Assistant Registrar of Companies
5. Assistant Official Liquidator
6. Assistant Director
7. Bench Officer – Company Law Board
|15600 – 39100 + Grade Pay 5400|
|Senior Time Scale||1. Registrar of Companies
2. Official Liquidator
3. Deputy Registrar of Companies
4. Deputy Official Liquidator
5. Deputy Director
|15600 – 39100 + Grade Pay 6600|
|Junior Administrative Grade||1. Registrar of Companies
2. Official Liquidator
3. Joint Director
4. Secretary, Company Law Board
|15600 – 39100 + Grade Pay 7600|
|Senior Administrative Grade||1. Regional Director
2. Director of Inspection and Investigation
|37400 – 67000 + Grade Pay 10000|
|Higher Administrative Grade||Director-General of Corporate Affairs (DGCA)||67000 – 79000|
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Indian Corporate Law Service (ICLS) – Training of Probationary Officers
The training of the ICLS officers takes place at the ICLS Academy located in the Indian Institute of Corporate Affairs, Manesar, Haryana for a period of ten months. This induction training familiarises the Probationary Officers (POs) with the provisions of the Companies Act, the Limited Liability Partnership Act (LLP Act), and other allied acts. It also teaches them about bookkeeping and accounts, Indian Penal Codes, concepts in Economics, Law and Management.
Indian Corporate Law Services (ICLS) – Career Prospects
- Indian Corporate Law Service (ICLS) Cadre officers get posted as Assistant Directors, Deputy Directors, and Joint Directors to ensure the working of the companies in sync with the companies Act.
- Have the option of promotion as Director of Inspection and Investigation to probe matters into companies that are not abiding the rules and causing revenue loss to the Government.
- Opportunity to serve in Serious Fraud Investigation Offices (SFIO).
- ICLS Cadre officers working at the Ministry level gets to formulate policies, rules and regulations.
The above details would help candidates preparing for UPSC 2020 in setting up their goals.