New Syllabus for the Executive and Professional Programmes of the Company Secretaryship Course :
New Syllabus For Executive And Professional Programmes Scheme of Papers
Executive Programme Professional Programme
MODULE 1 MODULE 1
1. Company Law 1. Advanced Company Law and Practice
2. Cost and Management Accounting 2. Secretarial Audit, Compliance Management and Due Diligence
3. Economic and Commercial Laws 3. Corporate Restructuring, Valuation and Insolvency
4. Tax Laws and Practice
MODULE 2 MODULE 2
5. Company Accounts and Auditing Practices 4. Information Technology and Systems Audit
6. Capital Markets and Securities Laws 5. Financial, Treasury and Forex Management
7. Industrial, Labour and General Laws 6. Ethics, Governance and Sustainability
MODULE 3
7. Advanced Tax Laws and Practice
8. Drafting, Appearances and Pleadings
9. Electives 1 out of below 5 subjects
9.1. Banking Law and Practice
9.2. Capital, Commodity and Money Market
9.3. Insurance Law and Practice
9.4. Intellectual Property Rights – Law and Practice
9.5. International Business-Laws and Practices
DETAILED SYLLABUS FOR EXECUTIVE PROGRAMME EXECUTIVE PROGRAMME
Module 1
PAPER 1: COMPANY LAW (100 Marks)
Level of Knowledge: Expert Knowledge
Objective: To acquire knowledge and develop understanding of the regulatory framework of companies with reference to various provisions of Companies Act and its schedules, rules, notifications, circulars,clarifications there under including case laws and Secretarial standards.
ICSI Notification No.2 of 2013
Introduction of New Syllabus for the Executive and Professional Programmes of the Company Secretaryship Course
The Council of the Institute of Company Secretaries of India in exercise of the powers vested under clause (a) of sub-section (2) of Section 15 of the Company Secretaries Act, 1980, as amended by the Company Secretaries (Amendment) Act, 2006 approved the new syllabus for the Executive and Professional Programmes of the Company Secretaryship Course, and decided as under:
2. The New Syllabus for Executive Programme shall comprise of Seven papers instead of six papers as at present and nine papers at Professional Programme level including one Paper to be opted by the students out of five elective papers namely, (i) Banking Law and Practice; (ii) Capital,Commodities and Money Market; (iii) Insurance Law and Practice; (iv) Intellectual Property Rights-Law and Practice; and (v) International Business-Laws and Practice, instead of eight papers as at present.
2.1 The new syllabus shall be applicable w.e.f. February 1, 2013 for Executive Programme and September 1, 2013 for Professional Programme.
2.2 The detailed contents for each of the seven papers of the Executive Programme & nine papers of Professional Programme including electives
under the new syllabus and the switchover scheme as approved by the Council are as under:
Contents:
1. Introduction
l Historical Development of Concept of Corporate Law in India
l Company-Definition, Meaning, Nature and its Characteristics
l Nature and Forms of Business
l Company vis-à-vis other Forms of Business
l Concept of Corporate Personality, Corporate Veil, Limited Liability and Citizenship
2. Incorporation and its Consequences
l Types of Companies and their incorporation
l Promoters-Meaning, Position, Duties, Rights, Responsibilities 237
New Syllabus For Executive And Professional Programmes and Liabilities
l Formation of Companies – Procedural Aspects
l Memorandum of Association & Articles of Association and their Alteration
l Contracts and Conversion of Companies
l Commencement of Business
l Doctrine of Ultra-Vires, Constructive Notice, Indoor Management,Alter Ego
3. Financial Structure
l Concept of Capital and Financing of Companies – Sources of Capital; Classes and Types of Shares; Equity Shares with Differential Rights; Issue of Shares at Par, Premium and Discount; Forfeiture and Surrender of Shares; Bonus Issues;
Rights Issues; Issue of Sweat Equity Shares; Employees Stock Option Scheme; Private Placement; preference shares and other forms of securities
l Alteration of Share Capital – Reduction of Capital; Buy-Back of Shares
l Prospectus- Definition; Abridged Prospectus; Red-Herring Prospectus; Shelf Prospectus; Information Memorandum;
Contents, Registration; Misrepresentations and Penalties l Debt Capital- Debentures, Debenture Stock, Bonds;Recent Trends and Dynamics of Corporate Debt Financing; Debenture Trust Deed and Trustees; Conversion of and Redemption of Debentures
l Securing of Debts- Charges; Creation, Modification and Satisfaction of Charges
l Allotment and Certificates- General Principles and Statutory Provisions related to Allotment; Minimum Subscription; Irregular Allotment; Procedure of Issue of Share Certificates and Warrants
4. Membership in a Company
l Modes of Acquiring Membership
l Rights and Privileges of Members, Register of Members
l Dematerialisation and Rematerialisation of Securities
l Transfer and Transmission of Securities in Physical and
Dematerialized forms
l Nomination
5. Management and Control of Companies
l Directors-Types, Director’s Identification Number (DIN), Appointment/Reappointment, Qualifications, Disqualifications,Vacation of Office, Retirement, Resignation and Removal of Managing and Whole-Time Directors and Manager
l Role and Responsibilities of Directors
l Powers and Duties
l Loans to Directors
l Remuneration of Directors
l Office or Place of Profit
l Contracts in which Directors are Interested
l Board of Directors and its Committees
l Company Secretary – Appointment, Role and Responsibilities
l Company Secretary as a Key Managerial Personnel
l Meetings:
l Meetings of Board and Committees – Frequency, Convening,
Proceedings, Video Conferencing of Board/Committee(s);
Resolution by Circulation; Minutes and Evidence
l General Meetings-Kinds of Meetings; Law, Practice and
Procedure Relating to Convening and Proceedings at General
and Other Meetings; Notice, Quorum, Chairman, Proxy, Voting
including Voting through Electronic Means; Resolutions,
Circulation of Members’ Resolution, etc.; Postal Ballot;
Recording, Signing and Inspection of Minutes
l Distribution of Powers of a Company – Division of
Powers between Board and General Meetings; Acts
by Directors in Excess of Authority; Monitoring and Management
l Sole Selling and Buying Agents-Meaning, Appointment and
Reappointment, Removal; Powers of Central Government and
Rules Framed for the Purpose
6. Investments, Loans and Deposits
l Law relating to making investments in and granting loans to other bodies corporate and giving guarantees and providing security l Acceptance of Deposits, Renewal, Repayment, Default and Remedies
7. Accounts and Audit
l Books of Accounts
l Financial Statements
l Auditors-Appointment, Resignation and Removal; Qualificationand Disqualification; Rights, Duties and Liabilities
l Audit and Auditor’s Report
l Cost Audit and Special Audit
8. Dividends
l Profit and Ascertainment of Divisible Profits
l Declaration and Payment of Dividend
l Treatment of Unpaid and Unclaimed Dividend
l Transfer of Unpaid and Unclaimed Dividend to Investor Education and Protection Fund
l Board’s Report and Disclosures- Contents and Annexure to Board’s Report
l Directors’ Responsibility Statement-Preparation and Disclosures
l Compliance Certificate – Need and Objective; Issue and Signing by Practising Company Secretary
l Corporate Governance Report
9. Registers, Forms and Returns
l Statutory Books and Registers prescribed under various
provisions of the Company Law – Maintenance, Authentication, Place of Keeping and Inspection
l Filing of various Forms and Returns with the Authorities
l Procedure and Penalties for Delayed Filing
l Annual Return – Nature and Significance; Contents; and Certification by Practising Company Secretary
10. Inspection and Investigation
l Inspection of Documents
l Powers of the Inspector
l Seizure of Books And Documents
l Inspector’s Report
l Power of the Registrar of Companie
l Investigation into Affairs of the Company
11. Majority Rule and Minority Rights
l Law relating to Majority Powers and Minority Rights
l Shareholder Remedies-Actions by Shareholders; Statutory
Remedies; Personal Actions
l Prevention of Oppression and Mis-Management
12. Merger, De-merger, Amalgamation, Compromises and
Arrangements – An Overview
13. Producer Companies
l Concept, Formation, Functioning and Dissolution
14. Limited Liability Partnerships
l Concept, Formation, Membership, Functioning and Dissolution
15. Application of Company Law to Different Sectors
l Banking
l Insurance
l Others
16. Offences and Penalties
l Introduction
l Officer in Default
l Penalties
17. Compounding of Offences
18. Winding up of Companies – An Overview
l Concept and Modes
19. Striking Off Name of Companies
20. An Introduction to E-Governance and XBRL
PAPER 2: COST AND MANAGEMENT ACCOUNTING (100 Marks)
Level of Knowledge: Working Knowledge
Objective: To acquire knowledge and understanding of the concepts,
techniques and practices of cost and management accounting and to
develop skills for decision making.
Contents:
1. Introduction to Cost and Management Accounting
l Cost Accounting: Evolution, Meaning, Objectives and Scope
l Concepts of Costs, Classifications and Elements of Cost
l Cost Centre and Cost Unit
l Methods and Techniques of Costing
l Cost Accounting Standards
l Installation of a Costing System
l Practical Difficulties in Installing a Costing System
l Role of Cost Accountant in Decision Making
l Management Accounting: Evolution, Meaning, Objectives and
Scope
l Tools and Techniques of Management Accounting
l Relationship of Cost Accounting, Financial Accounting,
Management Accounting and Financial Management
l Conflicts in Profit versus Value Maximisation Principle
l Role of Management Accountant in Decision Making
2. Material Cost
l Materials Control – Concept and Techniques
l Procurement Procedures and Documentation: Methods of
Purchasing; Procedure of Purchases, Stores and Issue of
Material; Stock Verification
l Methods of Pricing of Material: FIFO, LIFO, Simple
Average, Weighted Average
l Accounting and Control of Material Losses, Wastage,
Scrap, Spoilage and Defectives
l Inventory Management: Techniques of fixing of minimum,
maximum and reorder levels, Economic Order Quantity, ABC
Analysis; Stock Verification and Perpetual Inventory
3. Labour Cost
l Meaning and Classification of Labour Costs
l Accounting and Control of Labour Costs
l Time Keeping and Time Booking
l Attendance and Payroll Procedures, Time Recording, Overtime
and Idle Time
l Labour turnover and Remedial Measures
l Efficiency Rating Procedures; Remuneration Systems and
Incentive Schemes
4. Direct Expenses and Overheads
l Direct Expenses: Meaning, Nature, Collection, Classification
and Treatment of Direct and Indirect Expenses
l Overheads: Meaning, Nature, Collection and Classification
Functional Analysis: Factory, Administration, Selling, Distribution,
Research and Development
l Behavioural Analysis: Fixed, Variable, Semi variable and Step
Cost Allocation, Apportionment, Absorption and Control of
Overheads
l Preparation of Cost Sheet
5. Activity Based Costing (ABC)
l Meaning, Importance, Characteristics
l Elements and Steps involved
l ABC vs. Traditional Costing
l Uses and Limitations
6. Cost Records
l Cost Ledgers – Integrated Accounts and Non-Integrated Accounts
l Reconciliation of Cost and Financial Accounts
7. Costing Systems
l Unit and Output Costing
l Job Costing: Job Cost Cards, Collecting Direct Costs, Allocation
of Overheads and its Applications
l Batch Costing: Features and Applications
l Contract Costing: Features, Distinction between Job and Contract
Costing, Progress Payments, Retention Money, Escalation
Clause, Contract Accounts, Accounting for Material, Accounting
for Plant Used in a Contract, Contract Profit and Accounting
Entries
l Process Costing: Features, Applications and Types of Process
Costing, Process Loss, Abnormal Gains and Losses, Equivalent
Units, Inter-Process Profit, Joint Products, By-Products and
Accounting
l Service Costing: Features and Applications, Unit Costing and
Multiple Costing, Application, Identification of Cost Unit and Cost
Determination and Control
8. Marginal Costing
l Meaning, Advantages, Limitations and Applications
l Breakeven Analysis
l Cost-Volume Profit Analysis
l P/V Ratio and its Significance
l Margin of Safety
l Absorption Costing: System of Profit Reporting and Stock
Valuation
l Difference between Marginal Costing and Absorption Costing
l Income Measurement under Marginal Costing and Absorption
Costing
9. Standard Costing
l Definition, Significance and Applications
l Various Types of Standards
l Installation of Standard Costing System-for Material, Labour, and
Overhead
l Variance Analysis for Materials, Labour and Overheads and
Accounting Treatment of Variances
l Benchmarking for Setting of Standards
l Variance Reporting to Management
10. Budget, Budgeting and Budgetary Control
l Budget Concept, Manual
l Fixed and Flexible Budgets
l Preparation and Monitoring of Various Types of Budgets
l Budgetary Control System: Advantages, Limitations and
Installation
l Zero Base Budgeting
l Programme and Performance Budgeting
11. Cost Accounting Records and Cost Audit
l Nature and Scope of Cost Audit
l Cost Accounting Records and Cost Audit under
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238 Companies Act,1956
l Purpose, Scope and Advantages of Cost Audit
l Implementing Authorities of Cost Audit
l Cost Audit Techniques and Programmes
l Cost Audit Report
l Cost Auditor – Appointment, Rights and Responsibilities
12. Analysis and Interpretation of Financial Statements
l Financial Statements: Nature, Attributes, Objectives, Importance,
Limitations
l Recent Trends in presenting Financial Statements
l Financial Statements Analysis: Types, Methods, Objectives,
Limitations
l Ratio Analysis: Accounting, Uses, Classification, Advantages,
Limitations
l Cash Flow Statement
l Fund Flow Statement
l Difference between Cash Flow and Fund Flow Statement
l Management Reporting
PAPER 3: ECONOMIC AND COMMERCIAL LAWS (100 Marks)
Level of Knowledge: Part A-Advance Knowledge
Part B- Working Knowledge
Objective: To acquire knowledge and understanding of Economic and
Commercial Laws.
Contents: PART A: (70 Marks)
1. Foreign Exchange Management
l Objectives and Definitions under FEMA, 1999
l Current Account Transactions and Capital Account Transactions
l FDI Policy
l Foreign Direct Investment in India and Abroad
l Acquisition and Transfer of Immovable Property in India and
Abroad
l Establishment of Branch, Office etc. in India
l Export of Goods and Services
l Realization and Repatriation of Foreign Exchange
l Authorized Person
l Penalties and Enforcement
l Foreign Contribution (Regulation)Act, 2010
l Foreign Contributions and Hospitality
l Exemptions
l Powers of Central Government
l Adjudication, Appeal and Compounding
l Offences and Penalties
2. Foreign Trade Policy and Procedures
l Main Features
l Special Focus Initiatives
l Served from India Scheme
l Export Promotion Council
l Vishesh Krishi and Gram Udyog Yojana
l Focus Market Scheme; Focus Product Scheme; Duty Exemption
and Remission Schemes; Advance Authorization Scheme;
DFRC; DEPB; EPCG, etc.
l EOUs, EHTPs, STPs, BPTs and SEZs
3. Competition and Consumer Protection
l Concept of Competition
l Development of Competition Law
l Competition Policy
l Competition Act, 2002 – Anti Competitive Agreements, Abuse of
Dominant Position, Combination, Regulation of Combinations,
Competition Commission of India; Appearance before
Commission and Appellate Tribunal, Compliance of Competition
Law
l Consumer Protection Act, 1986
l Consumer Protection in India
l Genesis of the Law and Objects
l Rights of Consumers
l Nature and Scope of Remedies
l Appearance before Consumer Dispute Redressal Forums
4. Intellectual Property Rights
l Introduction – GATT, WIPO and TRIPS
l Concept and Development of Intellectual Property Law in India
l Law and Procedure Relating to Patents, Trade Marks and
Copyrights
l Geographical Indications
l Design Act
l Overview of Laws Relating to Other Intellectual Property Rights
l Intellectual Property Appellate Board
5. Law relating to Arbitration and Conciliation
l Introduction to UNCITRAL MODEL LAW
l Law of Arbitration in India
l Types of Arbitration
l Appointment of Arbitrators – Procedure
l Judicial Intervention
l Venue – Commencement
l Award – Time limit, Enforceability, Interest
l Recourse against Award – Appeals
l Conciliation and Compromise
l International Commercial Arbitration; Foreign Awards
l Arbitration Agencies – ICADR, ICA, Chambers of Commerce,
Professional Arbitrators
l Alternate Disputes Resolution
6. Law relating to Transfer of Property
l Important Definitions
l Types of Properties
l Movable and Immovable Property
l Properties which cannot be Transferred
l Rule Against Perpetuities
l Lis Pendens
l Provisions Relating to Sale
l Mortgage, Charge, Lease, Gift and Actionable Claim
7. Law relating to Stamps
l Methods of Stamping
l Consequences of Non-Stamping and Under-Stamping
l Impounding of Instruments
l Construction of Instruments for Determination of Stamp Duty
Payable
l Adjudication
l Allowance and Refund
l Penal Provisions
l Concept of E-Stamping
8. Law relating to Contract
l Contract – Introduction
l Legality of Objects
l Standard Form of Contract
l Multinational Agreement
l E-Contracts
l Strategies and Constraints to enforce Contractual Obligations
l Special Contracts: Indemnity and Guarantee; Bailment and
Pledge; Law of Agency
9. Prevention of Money Laundering
l Genesis
l Prevention of Money Laundering Act, 2002
l Concept and Definitions, Various Transactions, etc.
l Obligations of Banks and Financial Institutions
New Syllabus For Executive And Professional Programmes
239
l RBI Guidelines on KYC
PART B: (30 Marks)
10. Law relating to Essential Commodities, Weights and
Measures
l Overview of Essential Commodities Act, 1955
l Objects
l Powers of Central Government
l Seizure and Confiscation of Essential Commodities
l Summary Trial
l The Legal Metrology Act, 2009
11. Law relating to Societies
l General Concept Relating to Registration of Societies
l Property of Societies
l Suits by and against Societies
l Enforcement of Judgment against Societies
l Dissolution of Societies
12. Law relating to Trusts
l General Concept relating to Trusts
l Creation of Trust
l Duties and Liabilities of Trustees
l Rights and Powers of Trustees, Disabilities of Trustees
l Rights and Liabilities of the Beneficiary
13. Industries Development and Regulation
l Objects and Definitions
l An Overview of Industrial Policy
l Regulatory Mechanism under IDRA
l The Micro, Small and Medium Enterprises Development Act,
2006
14. Law relating to Pollution Control and Environmental
Protection
l Concept of Sustainable Development, Bio Diversity and Carbon
Credit
l Government Policy Regarding Environment
l Law Relating to Prevention and Control of Air Pollution and Water
Pollution
l Environment (Protection) Act, 1986
l National Green Tribunal
l Appearance before Environment Tribunal/Authority
l Public Liability Insurance Act, 1991
15. Law relating to Registration of Documents
l Registration of Documents – Compulsory and Optional
l Time and Place of Registration
l Consequences of Non-Registration
l Description of Property
l Miscellaneous Provisions
PAPER 4: TAX LAWS AND PRACTICE (100 Marks)
Level of Knowledge: Working Knowledge
Objective: To acquire expert knowledge of practical and procedural
aspects relating to Direct Tax Laws, Service Tax and VAT.
Contents:
Part A: Income Tax and Wealth Tax (70 Marks)
1. Basics and Definitions – Income Tax Act , 1961
l Background, Concept and Mechanism of Income Tax
l Definitions, Concept of Income, Previous Year, Assessment Year,
Distinction between Capital and Revenue Receipts and
Expenditure, Residential Status
l Basis of Charge and Scope of Total Income
2. Incomes which do not form part of Total Income
3. Computation of Total Income under Various Heads:
Salaries, Income from House Property, Profit and Gains of
Business or Profession, Capital Gains, Income from Other Sources
4. Income of Other Persons included in Assessee’s Total
Income; Aggregation of Income and Set Off or Carry Forward of
Losses; Various Deductions to be made in Computing Total Income,
Rebates and Relief’s; Applicable Rates of Taxes and Tax Liability
5. Taxation of Individuals including Non-Residents, Hindu Undivided
Family, Firms, LLP, Association of Persons, Cooperative Societies,
Trusts, Charitable and Religious Institution
6. Classification and Tax Incidence on Companies; Computation of
Taxable Income and Assessment of Tax Liability, Dividend
Distribution Tax, Minimum Alternate Tax and Other Special
Provisions Relating to Companies
7. Tax Deduction at Source, Tax Collection at Source, Recovery and
Refund of Tax; Provisions of Advance Tax
8. Provisions concerning Procedure for Filing Returns, Signatures, EFiling,
Assessment, Reassessment and Settlement of Cases, Special
Procedure for Assessment of Search Cases, E-Commerce
Transactions, Liability in Special Cases, Collection and Recovery of
Tax; Refunds, Appeals and Revisions; Penalties Imposable, Offences
and Prosecution
9. Tax Planning & Tax Management
l Concept of Tax planning, Tax planning with reference to setting
up a New Business; Location; Nature of Business; Tax Holiday,
etc. Tax Planning with regard to Specific Management Decisions
such as Mergers and Takeovers; Employees’ Remuneration;
Voluntary Retirement; Tax Planning with reference to Financial
Management Decisions such as Borrowing or Investment
Decisions; Reorganization or Restructuring of Capital
10. Wealth Tax Act, 1956
l Background, Concept and Charge of Wealth Tax
l Assets, Deemed Assets and Assets Exempt from Tax
l Valuation of Assets, Computation of Net Wealth
l Return of Wealth Tax and Provisions concerning Assessment
11. Basic Concepts of International Taxation
l Residency Issues; Source of Income; Tax Havens; Withholding
Tax, Unilateral Relief and Double Taxation Avoidance
Agreements Controlled Foreign Corporation, Advance Rulings
and Tax Planning, Authority for Advance Rulings
12. Transfer Pricing
l Concepts, Meaning of International Transactions
l Computation of Arm’s Length Price & Methods
l Documentation and Procedural Aspects
13. General Anti Avoidance Rules (GAAR)
Part B- Service Tax & Sales Tax (30) Marks
14. An Overview of Service Tax: Background, Negative List Approach,
Taxable Services, Administrative Mechanism, Registration and
Procedural Aspects, Rate and Computation of Tax, Levy, Collection
and Payment of Service Tax
15. An Overview of Value Added Tax: Legislative Background, Concept
of VAT, Declared Goods, Administrative Mechanism, Registration
and Procedural Aspects, Rate and Computation of Tax, Levy,
New Syllabus For Executive And Professional Programmes
240
Collection and Payment of VAT
Central Sales Tax; Tax on Inter- State Trade and Exports –
Registration, Preparation and Filing of E-Returns, Rates of Tax,
Assessment and Refunds
EXECUTIVE PROGRAMME
MODULE 2
PAPER 5: COMPANY ACCOUNTS AND AUDITING PRACTICES
(100 Marks)
Level of Knowledge: Advance Knowledge
Objective: To acquire knowledge and understanding of the concepts, principles and practices of company accounts and auditing in accordance with statutory requirements.
Contents:
PART A: Company Accounts (70 Marks)
1. Share Capital
l Issue of Shares: at Par, at Premium, at Discount, on Conversion and for consideration other than Cash; Forfeiture and Re-issue of Shares, Buyback of Shares, Redemption and Conversion of Preference Shares, Bonus Shares, Rights Issue, ESOPs, ESPS, Sweat Equity Shares
l Alteration of Share Capital
l Underwriting of Shares
2. Debentures
l Issue of Debentures: at Par, at Premium, at Discount and for consideration other than Cash
l Accounting Treatment and Procedures
l Redemption of Debentures
l Conversion of Debentures into Shares
3. Final Accounts of Companies
l Conceptual Framework, Preparation and Presentation of Financial Statements, Schedule VI, Interpretation and Scrutiny of Balance sheet
l Treatment of Profit Prior to Incorporation, Preoperative and Preliminary Expenses
l Preparation of Final Accounts under Company Law
4. Corporate Restructuring
l Concept and Accounting Treatment as per AS
l Methods of Amalgamations Accounting
n The Pooling of Interests Method
n The Purchase Method
l Consideration
l Treatment of Reserves, Goodwill and Pre- Acquisition & Post-Acquisition Profit
l Accounting in the books of Transferor and Transferee
l Merger and De-merger
l Acquisition of Business
l Internal Reconstruction
5. Consolidation of Accounts
l Holding and Subsidiary Companies – Accounting Treatment,
Disclosures and Consolidation of Accounts
6. Valuation of Shares and Intangible Assets
l Valuation of Shares, Methods of Valuation, Price Earning Multiple
Valuation, Discounted Cash Flow (DCF) Method
l Valuation of Intangibles: Brand, Goodwill and IPRs
7. Liquidation of Company
l Preparation of Statement of Affairs including
Deficiency /Surplus Account
8. Corporate Financial Reporting
l Various Requirements of Corporate Reporting
l Value Added Statements: Economic Value Added
(EVA), Market Value Added , Shareholders’ Value Added
9. Accounting Standards
l Relevance and Significance
l National and International Accounting Standards and Authorities
l Adoption, Convergence and Interpretation of International
Financial Reporting Standards (IFRS) and Accounting Standards
in India
PART B: Auditing Practices (30 Marks)
10. Auditing Concepts
l Nature, Scope and Significance of Auditing
l Basic Principles Governing an Audit
l Overview of Auditing and Assurance Standards- National and
International
11. Types of Company Audit
l Statutory Audit
l Internal Audit
l Branch Audit
l Joint Audit
l Special Audit
l CAG Audit
12. Internal Audit
l Forms of Audit – Propriety Audit, Compliance Audit and Efficiency
Audit
l Nature, Scope and Techniques of Internal Audit; Functions and
Responsibilities of Internal Auditors; Organisational Status of
Internal Auditing Function, Internal Audit vis-à-vis Statutory Audit
13. Internal Control
l Nature, Scope And Elements
l Internal Control distinguished from Internal Check and Internal
Audit
l Techniques of Internal Control System, Flow Charts, Internal
Control Questionnaires
l Steps for Internal Control and Audit Evaluation
l Audit Testing – Need For Sampling and Various Approaches to
Statistical Sampling
l Inter-Firm and Intra-Firm Comparisons – Ratio And Trend
Analysis; Audit In Depth
14. Review of Internal Control
l Review of Purchasing Operations
l Review of Efficacy of Management Information System
l Review of Selling and Distribution Policies and Programmes
l Review of Manufacturing Operations
l Review of Personnel Policies
l Appraisal of Management Decisions
15. Audit Engagement and Documentation
l Audit Procedures: Audit Plan, Audit Programme, Vouching and
Verification
l Documentation: Audit Working Papers and Files
l Sampling, Test Checking, Techniques of Test Checks
PAPER 6: CAPITAL MARKET AND SECURITIES LAWS (100 Marks)
Level of Knowledge: Expert Knowledge
Objective: To acquire knowledge and understanding of securities laws
and the regulatory framework of capital markets.
Contents:
Part A: Capital Market (60 Marks)
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241
1. Overview of Capital Market
l Indian Capital Market
l Authorities Governing Capital Markets in India
l Profile of Securities Market
l Securities Market Reforms and Regulatory Measures to Promote
Investor Confidence
l Features of Developed Capital Market: IOSCO
l Overview of Depository System in India
2. Capital Market Instruments and Rating
l Capital Market Instruments: Equity, Debentures, Preference
Shares, Sweat Equity, Non-Voting Shares, Share Warrants
l Pure, Hybrid and Derivatives
l Rating and Grading of Instruments: Concept, Scope and
Significance, Regulatory Framework
l Rating Agencies in India, Rating Methodologies
3. Securities Market Intermediaries
l Primary Market and Secondary Market Intermediaries: Role and
Functions, Merchant Bankers, Stock Brokers, Syndicate
Members, Registrars, Underwriters, Bankers to an Issue,
Portfolio Managers, Debenture Trustees, Foreign Institutional
Investors, Depositories, Depositories Participants, Custodians,
Credit Rating Agencies, Venture Capitalists
4. Market Infrastructure Institutions – Stock Exchanges
l Functions and Significance of Stock Exchanges
l Operations and Trading Mechanism of Stock Exchanges
l Settlement of Securities, Stock Market Indices, Risk
Management, Surveillance Mechanism at Stock Exchanges,
Straight through Processing
l Demutualization of Stock Exchanges
l SME Exchange
5. Debt Market
l Debt Market: Instruments, Listing, Primary and Secondary Segment
6. Money Market
l Growth of Money Market in India : Structure and Institutional
Mechanism
l Money Market Instruments: Treasury Bills, Commercial Bills,
Commercial Paper, Factoring Agreements & Discounting of Bill
7. Mutual Funds
l Mutual Fund: Introduction, Definitions, Schemes, Risks Involved,
Setting Up of Mutual Funds, Role in Financial Market
l Advantage of Investment in Mutual Fund
l Concept of Trustee and Asset Management Company
l Legal & Regulatory Framework
l Offer Document, Accounting Valuation & Taxation
l Investment Management: Equity & Debt Portfolio,
Measuring & Evaluating Mutual Fund Performance
l Investor’s Rights and Obligations
8. Venture Capital
l Concept of Venture Capital
l Registration, Investment Conditions and Restrictions
l Foreign Venture Capital Investors
l Private Capital Funds
9. Collective Investment Schemes
l Regulatory Framework
l Restrictions on Business Activities
l Submission of Information and Documents
l Trustees and their Obligations
10. Resource Mobilization in International Capital Market
l Listing of Securities Issued Outside India
n Foreign Currency Convertible Bonds
n Global Depository Receipts
n American Depository Receipts
n External Commercial Borrowings
l Procedure for Issue of Various Instruments
11. Indian Depository Receipts
l Indian Depository Receipts: Procedure for Making Issue of IDRs,
Conditions for Issue of IDRs, Listing of IDRs
Part B: Securities Law (40 Marks)
12. Securities Contracts (Regulation) Act, 1956
13. SEBI Act, 1992
l Objective, Power and Functions of SEBI
l Securities Appellate Tribunal, Appeals, Appearance before SAT
14. Depositories Act, 1996
l Definitions, Setting up of Depository, its type, Role and Functions
l Depository Participants
l Admission of Securities
l Difference between Dematerialization & Rematerialisation
l Depository Process
l Inspection and Penalties
l Internal Audit and Concurrent Audit of Depository Participants
15. Issue and Listing of Securities
l Listing of Securities
l Issue of Capital and Disclosure Requirements (ICDR)
l Procedure for Issue of Various Types of Shares and Debentures
l Employee Stock Option Scheme and Employee Stock Purchase
Scheme
l Delisting of Securities
16. Regulatory Framework relating to Securities Market
Intermediaries
l Primary Market and Secondary Market Intermediaries: Role and
Functions, Merchant Bankers, Stock Brokers, Syndicate
Members, Registrars, Underwriters, Bankers to an Issue, Portfolio
Managers, Debenture Trustees, Foreign Institutional Investors,
Custodians, Credit Rating Agencies, Venture Capitalists
17. An Overview of Law relating to Insider Trading and Takeovers
PAPER 7: INDUSTRIAL, LABOUR AND GENERAL LAWS (100
Marks)
Level of Knowledge: Working Knowledge
Objective: To acquire knowledge and understanding of Industrial,
Labour and General Laws.
Contents:
Part A: Industrial and Labour Laws (70 Marks)
1. Factories Act, 1948
l Object and Scope
l Application and Major Provisions of the Act
2. Minimum Wages Act, 1948
l Object and Scope
l Application and Major Provision of Minimum Wages Act
3. Payment of Wages Act, 1936
l Object and Scope
l Application and Major Provisions of the Act
4. Equal Remuneration Act, 1976
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l Object and Scope
l Application and Major Provisions of the Act
5. Employees’ State Insurance Act, 1948
l Object and Scope
l Application and Major Provisions of the Act
6. Employees’ Provident Funds and Miscellaneous Provisions Act,
1952
l Object and Scope
l Application and Major Provisions of the Act
7. Payment of Bonus Act, 1965
l Object and Scope
l Application and Major Provisions of Payment of Bonus Act
8. Payment of Gratuity Act, 1972
l Object and Scope
l Application and Major Provisions of Payment of Gratuity Act
9. Employees Compensation Act, 1923
l Object and Scope
l Application and Major Provisions of the Act
10. Contract Labour (Regulation and Abolition) Act, 1970
l Object and Scope
l Application and Major Provisions of the Act
11. Maternity Benefit Act,1961
l Object and Scope
l Application and Major Provisions of the Act
12. Child Labour (Prohibition and Regulation) Act, 1986
l Object and Scope
l Application and Major Provisions of the Act
13. Industrial Employment (Standing Orders) Act, 1946
l Object and Scope
l Application and Major Provisions of the Act
14. Industrial Disputes Act, 1947
l Object and Scope
l Application and Major Provisions of the Act
15. Trade Unions Act, 1926
l Object and Scope
l Application and Major Provisions of the Act
16. The Labour Laws Exemption from Furnishing Returns
and Maintaining Register by Certain Establishments Act, 1988
l Object and Scope
l Application and Major Provisions of the Act
17. Employment Exchanges (Compulsory Notification of
Vacancies) Act, 1959
l Object and Scope
l Application and Major Provisions of the Act
18. Apprentices Act, 1961
l Object and Scope
l Application and Major Provisions of the Act
19. Labour Audit covering the above Acts and those
Industry specific Acts
Part B: General Laws (30 Marks)
20. Constitution of India
l Broad Framework of the Constitution of India: Fundamental
Rights, Directive Principles of State Policy
l Ordinance Making Powers of the President and the Governors
l Legislative Powers of the Union and the States
l Freedom of Trade, Commerce and Intercourse
l Constitutional Provisions relating to State Monopoly
l Judiciary, Writ Jurisdiction of High Courts and the Supreme Court
l Different Types of Writs – Habeas Corpus, Mandamus,
Prohibition, Quo Warranto and Certiorari
l Concept of Delegated Legislation
21. Interpretation of Statutes
l Need for Interpretation of a Statute
l General Principles of Interpretation
l Internal and External Aids to Interpretation
l Primary and Other Rules
22. An Overview of Law relating to Specific Relief;
Limitation and Evidence
23. Code of Civil Procedure
l Elementary Knowledge of the Structure of Civil Courts, their
Jurisdiction
l Basic Understanding of Certain Terms – Order, Judgment and
Decree, Stay Of Suits, Res Judicata
l Suits by Companies, Minors
l Basic Understanding of Summary Proceedings, Appeals,
Reference, Review and Revision
24. Indian Penal Code and Criminal Procedure Code
l Important Definitions and Salient Features, Mens Rea
l Cognizable and Non-Cognizable Offences, Bail, Continuing
Offences, Searches,
l Limitation for taking Cognizance of Certain Offences
25. Right to Information
l Salient Features of the Right to Information (RTI) Act, 2005
l Objective
l Public Authorities & their Obligations
l Designation of Public Information Officers (PIO) and their Duties
l Request for Obtaining Information
l Exemption from Disclosure
l Who is excluded
l Information Commissions (Central & State) and their Powers
l Appellate Authorities
l Penalties
l Jurisdiction of Courts
l Role of Central/State Governments
DETAILED SYLLABUS FOR PROFESSIONAL PROGRAMME
PROFESSIONAL PROGRAMME
MODULE 1
PAPER 1: ADVANCE COMPANY LAW AND PRACTICE (100 Marks)
Level of Knowledge: Expert Knowledge
Objective: To acquire expert knowledge of the practical and procedural
aspects of the Companies Act.
Contents:
1. Company Formation and Conversion
l Choice of Form of Business Entity; Conversion/ Re-conversion of
One Form of Business Entity into Another
l Incorporation of Private Companies, Public Companies,
Companies Limited by Guarantee and Unlimited Companies and
their Conversions/ Re-conversion/Re-registration
l Formation of Nidhi Companies, Producer Companies
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and Mutual Benefit Funds
l Commencement of Business and New Business; Pre
Incorporation Agreements and Contracts
l Formation of Non Profit Companies
l Procedure Relating to Foreign Companies Carrying on Business
in India
2. Procedure for Alteration of Memorandum and Articles
l Alteration of Various Clauses of Memorandum: Name Clause,
Situation of Registered Office Clause, Objects Clause, Capital
Clause and Liability Clause
l Effects of Alteration of Articles
3. Procedure for Issue of Securities
Part A: Shares
l Public Issue, Rights Issue and Bonus Shares, Issue of Shares at
Par/Premium/Discount; Issue of Shares on Preferential /Private
Placement Basis
l Allotment, Calls on Shares and Issue of Certificates
l Issue of Sweat Equity Shares, Employees Stock Option Scheme
(ESOPs), Employees Stock Purchase Scheme (ESPS), Shares
with Differential Voting Rights
l Issue and Redemption of Preference Shares
l Alteration of Share Capital – Forfeiture of Shares and Reissue of
Forfeited Shares; Increase, Consolidation, Conversion and Reconversion
into Stock, Subdivision and Cancellation and
Surrender of Shares
l Buy Back of Shares
l Reduction of Share Capital
Part B: Debt Instruments
l Issue of Debentures and Bonds, Creation of Security and
Debenture Redemption Reserve, Drafting of Debenture Trust
Deed, Redemption of Debentures, Conversion of Debentures into
Shares
l Deposits
4. Procedure relating to Membership, Transfer and Transmission
l Induction of Members, Nomination of Shares, Variation of
Shareholders’ Rights, Cessation of Membership including Dispute
Resolution
l Transfer/Transmission/Transposition
l Admission of Securities in Electronic Mode
l Dematerialization/ Rematerialisation of Securities
l Compliances relating to Insider Trading and Takeovers
5. Directors and Managerial Personnel
l Obtaining DIN
l Directors and Managerial Personnel- Appointment,
Reappointment, Resignation, Removal and Varying Terms of
Appointment/Re-appointment
l Payment of Remuneration to Directors and Managerial Personnel
and Disclosures thereof; Compensation for Loss of Office
l Waiver of Recovery of Remuneration
l Making Loans to Directors, Disclosure of Interest by a Director,
Holding of Office or Place of Profit by a Director/Relative
l Company Secretary – Appointment, Resignation and Removal
l Company Secretary in Practice – Appointment, Resignation and
Removal
6. Meetings
l Collective Decision Making Forums – Authority, Accountability,
Delegation and Responsibility
l Board Meetings – Convening and Management of Meetings of
Board and Committees; Preparation of Notices and Agenda Papers
l General Meetings – Convening and Management of Statutory
Meeting, Annual and Extra-Ordinary General Meetings, Class
Meetings; Creditors’ Meetings; Preparation of Notices and
Agenda Papers; Procedure for Passing of Resolutions by
Postal Ballot; Voting through Electronic Means; Conducting a Poll
and Adjournment of a Meeting
l Post-Meeting Formalities – Preparation of Minutes and
Dissemination of Information and Decisions
7. Auditors
l Auditors – Procedure for Appointment/Re-appointment,
Resignation and Removal of Statutory Auditors and Branch
Auditors; Appointment of Cost Auditors
l Special Auditors; CAG audit
8. Distribution of Profit
l Ascertainment of Distributable Profits and Declaration of
Dividend; Payment of Dividend
l Claiming of Unclaimed/Unpaid Dividend; Transfer of
Unpaid/Unclaimed Dividend to Investor Education and Protection
Fund
9. Procedure relating to Charges
l Creation and Registration, Modification, Satisfaction of Charges
l Inspection of charges
10. Procedure relating to Inter-Corporate Loans,
Investments, Guarantees and Security
l Making Inter-Corporate Loans, Investments, Giving of Guarantee
and Security
11. Preparation & Presentation of Reports
l Preparation of Financial Statements, Auditors’ Report, Directors’
Report and Report on Corporate Governance
12. E- Filing
l Filling and Filing of Returns and Documents
(a) Annual Filing, i.e., Annual Accounts; XBRL Filing, Compliance
Certificate, Annual Return
(b) Event Based Filing
13. Striking off Names of Companies
l Law and Procedure
14. Recent Trends and Developments in Company Law
15. Trusts and Non-Profit Organisation
PAPER 2: SECRETARIAL AUDIT, COMPLIANCE MANAGEMENT
AND DUE DILIGENCE (100 Marks)
Level of Knowledge: Expert Knowledge
Objective:
(i) To acquire thorough understanding of secretarial audit
and Corporate Compliance Management.
(ii) To acquire understanding of the due diligence of various
business transactions.
Contents:
Part A: Secretarial Audit (25 Marks)
1. Secretarial Standards
l Concept, Scope and Advantages
l Secretarial Standards issued by the ICSI
l Compliance of Secretarial Standards for Good Governance
l Relevance of Guidance Note(s)
2. Secretarial Audit
l Need, Objective and Scope
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l Periodicity and Format for Secretarial Audit Report
l Benefits of Secretarial Audit
l Professional Responsibilities and Penalties
3. Checklist for Secretarial Audit
Part B: Due Diligence and Compliance Management (75 Marks)
4. Due Diligence – An Overview
l Introduction, Nature, Need and its Significance
l Objectives, Scope and Types of Due Diligence
l Process of Due Diligence
l Concept of Data Room in Due Diligence
l Due Diligence vs. Audit
5. Issue of Securities
l Introduction and Regulatory Framework
l Pre and Post Issue Due Diligence – IPO/FPO
l Due Diligence – Preferential Issues of Listed and Unlisted
Companies
l Employee Stock Option, Bonus Issue, Rights Issue, Debt Issues
l Issue of Securities by SMEs
l Role of Company Secretary in Issue of Securities
6. Depository Receipts Due Diligence
l Introduction; Broad Regulatory Framework; Parties, Approvals,
Documentation and Process
l Issue of ADRs, GDRs, IDRs and FCCBs
7. Merger & Acquisition (M&A) Due Diligence
l Introduction
l Stages of M&A Due Diligence
l Data Room Management
l Business, Financial, Legal and Corporate Governance Due
Diligence
l HR and Cultural Due Diligence
l Impact of Due Diligence on Valuation
l Takeovers and Acquisitions Due Diligence
8. Competition Law Due Diligence
l Introduction
l Need for Competition Compliance Programme
l Mergers & Acquisitions and Competition Law Aspects
l Reasons for Due Diligence of Competition Law Aspects
l Process of Due Diligence of Competition Law Aspects
l Due Diligence of Various Agreements
l Some Common Anti Competitive Practices
l Due Diligence on Abuse of Dominance
l Due Diligence Checklist for Compliance with Competition Act,
2002
l Checklist for Anti Competitive Agreements/Abuse of Dominant
Position/Regulation of Combinations
9. Legal Due Diligence
l Introduction
l Objectives, Scope, Need and Process
l General Documents/Aspects to be covered
l Possible Hurdles in Carrying out a Legal Due Diligence and
Remedial Actions
10. Due Diligence for Banks
l Introduction
l Need for Due Diligence for Banks
l Process of Due Diligence for Banks
l Due Diligence Report to Banks
11. Environmental Due Diligence
l Introduction
l Need for Environmental Due Diligence
l Process involved in Environmental Due Diligence
l Regulatory Framework relating to Environment
l Check List on Major Regulatory Compliances
l Environmental Guidelines for Industries by Ministry of
Environment
l Environmental Impact Assessment
l Environmental Management Plan
l Preparation of Risk Analysis Matrix
l Identification of Potential Issues
l Impact Analysis
l Suggestions and Mitigation Measures
12. Search and Status Reports
l Importance and Scope
l Verification of Documents relating to Charges
l Requirements of Financial Institutions and Corporate Lenders
l Preparation of Report
13. Compliance Management
l Concept and Significance
l Establishment of Compliance Management System
l Absolute, Apparent and Adequate Compliance
PAPER 3: CORPORATE RESTRUCTURING, VALUATION AND
INSOLVENCY (100 Marks)
Level of Knowledge: Advance Knowledge
Objective: To acquire knowledge of the legal, procedural and practical
aspects of Corporate Restructuring, Valuation and Insolvency.
Contents:
Part A – Corporate Restructuring (50 Marks)
1. Introduction and Concepts
l Meaning of Corporate Restructuring
l Need, Scope and Modes of Restructuring
l Historical Background
l Emerging Trends
l Planning, Formulation and Execution of Various Corporate
Restructuring Strategies – Mergers, Acquisitions, Takeovers,
Disinvestments and Strategic Alliances, Demerger and Hiving off
l Expanding Role of Professionals
2. Merger and Amalgamation
l Introduction
Legal, Procedural, Economic, Accounting, Taxation and Financial
Aspects of Mergers and Amalgamations including Stamp Duty
and Allied Matters
l Interest of Small Investors
l Merger Aspects under Competition Law
l Jurisdiction of Courts; Filing of Various Forms
l Amalgamation of Banking Companies and Government
Companies
l Cross Border Acquisition and Merger
3. Corporate Demerger and Reverse Merger
l Concept of Demerger; Modes of Demerger – by Agreement, under
Scheme of Arrangement
l Demerger and Voluntary Winding Up
l Legal and Procedural Aspects; Tax Aspects and Reliefs
l Reverse Mergers – Procedural Aspects and Tax Implications
4. Takeover
l Meaning and Concept
l Types of Takeovers; Legal Aspects – SEBI Takeover Regulations
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l Disclosure and Open Offer Requirements
l Bail Out Takeovers and Takeover of Sick Units
l Takeover Defences
l Cross Border Takeovers
5. Funding of Merger and Takeover
l Financial Alternatives; Merits and Demerits
l Funding through various Types of Financial Instruments including
Equity and Preference Shares, Debentures, Securities with
Differential Rights, Swaps, Stock Options; ECBs, Funding
through Financial Institutions and Banks
l Rehabilitation Finance
l Management Buyouts/Leveraged Buyouts
6. Financial Restructuring
l Reduction of Capital
l Reorganization of Share Capital
l Buy-Back of Shares – Concept and Necessity
l Procedure for Buy-Back of Shares by Listed and Unlisted
Companies
7. Post Merger Reorganization
l Factors involved in Post Merger Reorganization
l Integration of Businesses and Operations
l Assessing Accomplishment of Post Merger Objectives;
Measuring Post Merger Efficiency
8. Case Studies
Part B – Valuation (30 Marks)
9. Introduction
l Meaning, Objective & Scope of Valuation
l Principles of Valuation
l Preliminary Work relating to Valuation
l Valuation Standards and Valuation Analysis
10. Valuation Techniques
l Historical Earnings Valuation
l Asset Based Valuation
l Market Based Valuation
11. Regulatory and Taxation Aspects
l Legal & Regulatory aspects related to Valuation such as SEBI
Regulations/ RBI Regulations
l Income Tax Implications
12. Valuations for Different Strategies
l Merger & Acquisition, Demerger, Slump Sale
l Liquidation and Corporate Insolvency
l Internal & External Restructuring
l Valuation of Intangibles
l Valuation of Securities
Part C – Insolvency (20 Marks)
13. Introduction
l Concept of Insolvency, Historical Developments
l History of Bankruptcy Laws in USA, UK and India
14. Revival, Rehabilitation and Restructuring of Sick Companies
l Sick Companies and their Revival with Special Reference to the
Law and Procedure relating to Sick Companies
15. Securitization and Debt Recovery
l Overview of the Securitization and Reconstruction of
Financial Assets and Enforcement of Security Interest Act, 2002;
Process; Participants
l Special Purpose Vehicle (SPV), Asset Reconstruction
Companies (ARCs), Qualified Institutional Buyers (QIB)
l Overview of the Recovery of Debts Due to Banks and Financial
Institutions Act, 1993
l Tribunal, Procedure; Compromises and Arrangements with
Banks and Creditors
16. Winding Up
l Concept; Modes of Winding Up; Administrative Machinery for
Winding Up
l Winding up Process and Procedure; Managing Stakeholders and
Parties in Liquidation; Conducting Meetings of
Shareholders/Creditors; Dealing with Contracts; Managing Estate
l Outsourcing Responsibilities to Professionals/Service providers
such as Valuers, Security Agencies
l Best Practices in Performing Liquidation/ Administrator Functions;
Accountability and Liabilities; Role of Liquidators and Insolvency
Practitioners
l Consequences of Winding Up; Winding Up of Unregistered
Companies; Dissolution
17. Cross Border Insolvency
l UNCITRAL Model Law on Cross Border Insolvency
l UNCITRAL Legislative Guide to Insolvency Law
l World Bank Principles for Effective Insolvency and Creditor
Rights
l Asian Development Bank Principles of Corporate Rescue and
Rehabilitation
l Bankruptcy under Chapter 11 of US
PROFESSIONAL PROGRAMME
MODULE 2
PAPER 4: INFORMATION TECHNOLOGY AND SYSTEMS AUDIT (100
Marks)
Level of Knowledge: Working Knowledge
Objective: To acquire knowledge of Information Technology Law,
Information Systems and Systems Audit.
Contents:
1. Information Technology Law
l Information Technology Act – Definitions, Important terms under
l Information Technology Legislation
l Digital Signatures
l Electronic Records
l Certifying Authority
l Digital Signature Certificate
l Cyber Regulation Appellate Tribunal
l Offences and Penalties
2. Information Systems
l Systems- An Overview, l Information and Data: Definition and
Distinctions l Information as a Corporate Resource l Features and
Qualities of Information l Types of Information l Process of
Generating Information l Value and Cost of Information
l Information Needs at Various Levels of Management l Factors
Influencing Information Needs l Information Systems: Definition and
Elements l Information System Activities l Types of Information
Systems l Information Systems in Business Management l Recent
Trends in Information Systems
3. Computer Hardware – An Overview
l Computers: An Introduction
l Computer System: Concept, Types, Categories and Emerging
Technologies
l Components of a Computer System
l Primary and Secondary Storage, Computer Storage Capacities
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l Computer Peripherals – Inputs, Output and Storage Devices
4. Computer Software – An Overview
l Computer Software: An Introduction, Software Trends
l Multi-Programming, Multi-Processing, Time Sharing, Batch
Processing
l On-Line and Real Time Processing
l Application Software
l Systems Securities
5. Database Management
l Data Base Concepts
l Data Structure
l Data Base Management System
l Data Base Files
l Data Mining and Warehousing
6. Programming – An overview
l Programming: Concepts, Stages of Programming
l Programme Development Approach
l Algorithm, Flow Charting Concepts
l High Level Languages
l Machine Level Languages
7. Internet and Other Technologies
l Internet and World-Wide Web, Intranets, Extranets,
Applications Of Internet,Internet Protocols
l E-Commerce – Nature, Types (B2B, B2C, C2C), Supply Chain
Management, CRM, Electronic Data Interchange (EDI),
Electronic Fund Transfers (EFT), Payment Portal, E-Commerce
Security
l Mobile Commerce, Bluetooth and Wi-Fi
8. Management Information Systems – An Overview
l Concept, Evolution and Elements
l Structure
l Computerized MIS
l Approaches of MIS Development
l Pre-requisites of an Effective MIS
l MIS and Decision Support Systems
l MIS and Information Resource Management
l Artificial Intelligence and Expert System
9. Enterprise Resource Management
10. E-Governance in India
11. Systems Audit – An Overview
l Nature, Significance and Scope of Systems Audit
l Steps Involved in Conducting Systems Audit
l Systems Audit and Management Functions
l Systems Audit of Computerized Secretarial Functions
l Norms and Procedure for Computerization, Computers Control
and Security
l Testing of Computer Systems – Documentation Standards,
Policies and Procedures, Audit Approach
PAPER 5: FINANCIAL, TREASURY AND FOREX MANAGEMENT (100
Marks)
Level of Knowledge: Expert Knowledge
Objective: To acquire expert knowledge of practical aspects of the
management and techniques of financial, treasury and forex
management.
CONTENTS:
1. Nature and Scope of Financial Management
l Nature, Significance, Objectives and Scope (Traditional, Modern
and Transitional Approach)
l Risk-Return and Value of the Firm
l Financial Distress and Insolvency
l Financial Sector Reforms and their Impact
l Functions of Finance Executive in an Organisation
2. Capital Budgeting
l Time Value of Money
l Planning and Control of Capital Expenditure
l Capital Budgeting Process
l Techniques of Capital Budgeting- Discounted and Non-
Discounted Cash Flow Methods, Choice of Methods
l Capital Rationing; Risk Evaluation and Sensitivity Analysis,
Simulation for Risk Evaluation
l Linear Programming and Capital Budgeting Decisions – under
Constraints and with Multiple Objectives using Mathematical
Programming Models, Inflation, Uncertainty and Evaluation using
Statistical Decision Theory
l Analysis of Capital Budgeting Decisions- Some Case Studies
3. Capital Structure
l Meaning and Significance
l Capital Structure vis-à-vis Financial Structure; Planning and
Designing; Optimal Capital Structure
l Determinants of Capital Structure; Capital Structure and
Valuation – Theoretical Analysis
l EBIT – EPS Analysis, EBITDA Analysis (Earning before Interest,
Tax, Depreciation and Amortization)
l Risk and Leverage; Measures of Operating and Financial
Leverage, Effects of Leverage on Shareholders’ Returns
4. Cost of Capital
l Meaning; Factors Affecting Cost of Capital
l Measurement of Cost of Capital, Weighted Average
Cost of Capital, Marginal Cost of Capital
5. Financial Services
l Meaning, Significance, Scope and Structure of Financial Services
l Types of Financial Services- Merchant Banking, Securitization of
Debt, Loan Syndication, Housing Finance, Custodial and
Advisory
6. Project Finance
l Project Planning – Preparation of Project Report
l Project Appraisal under Normal, Inflationary and
Deflationary Conditions
l Project Appraisal by Financial Institutions – Lending Policies and
Appraisal Norms by Financial Institutions and Banks; Loan
Documentation, Project Review and Control; Social Cost and
Benefit Analysis of Project. (UNIDO Approach), Term Loans from
Financial Institutions and Banks; Lease and Hire Purchase
Finance; Venture Capital Funds; Private Equity; International
Finance and Syndication of Loans, Deferred Payment
Arrangements; Corporate Taxation and its Impact on Corporate
Financing
l Financing Cost Escalation
7. Dividend Policy
l Introduction; Types, Determinants and Constraints of Dividend
Policy
l Forms of Dividend
l Different Dividend Theories – Walter’s Model, Gordon’s Model and
Modigliani-Miller Hypothesis of Dividend Irrelevance
l Dividend Policy – Practical and Legal Constraints
l Corporate Dividend Practices in India
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8. Working Capital
l Meaning, Types, Determinants and Assessment of
Working Capital Requirements, Negative Working Capital
l Operating Cycle Concept and Applications of Quantitative
Techniques
l Management of Working Capital – Cash, Receivables,
Inventories; Financing of Working Capital; Banking Norms and
Macro Aspects
l Factoring and Forfeiting
9. Security Analysis and Portfolio Management
l Security Analysis – Measuring of Systematic and Unsystematic
Risk, Fundamental Analysis (Economic, Industry and Company),
Technical Approach and Efficient Capital Market Theory
l Portfolio Management – Meaning, Objectives; Portfolio Theory –
Traditional Approach; Fixed and Variable Income Securities,
Markowitz Portfolio Theory; Modern Approach – CAPM Model;
Economic Value Added, Sharpe Single & Multi Index Model;
Arbitrage Pricing Theory (APT); Risk Adjusted Measure of
Performance
10. Derivatives and Commodity Exchanges- An Overview
11. Treasury Management
l Meaning, Objectives, Significance, Functions and
Scope of Treasury Management
l Relationship between Treasury Management and Financial
Management; Role and Responsibilities of Chief Finance Officer
l Tools of Treasury Management; Internal Treasury
Controls; Environment for Treasury Management
l Liquidity Management, Regulation, Supervision and Control of
Treasury Operations, Implications of Treasury on International
Banking
12. Forex Management
l Nature, Significance and Scope of Forex Management
l Foreign Exchange Market and its Structure
l Foreign Exchange Rates and its Determination
l Exchange Rate Quotes; Types of Exchange Rates;
Forex Trading; Currency Futures and Options
l Foreign Exchange Risk Exposures and their Management;
Exchange Rate Forecasting; Risk in Foreign Exchange Business
13. Practical Problems and Case Studies
PAPER 6: ETHICS, GOVERNANCE AND SUSTAINABILITY
(100 Marks)
Level of Knowledge: Advance Knowledge
Objective: To acquire knowledge of ethics, emerging trends in good
governance practices and sustainability.
Contents:
Part A: Ethics and Governance (70 Marks)
1. Introduction
l Ethics, Business Ethics, Corporate Governance, Governance
through Inner Consciousness and Sustainability
l Failure of Governance and its Consequences
2. Ethical Principles in Business
l Role of Board of Directors
l Organization Climate and Structure and Ethics
l Addressing Ethical Dilemmas
l Code of Ethics; Ethics Committee; Ethics Training; Integrity Pact
l Case Studies and Contemporary Developments
3. Conceptual Framework of Corporate Governance
l Introduction, Need and Scope
l Evolution of Corporate Governance
l Developments in India
l Developments in Corporate Governance – A Global Perspective
l Elements of Good Corporate Governance
4. Board Effectiveness – Issues and Challenges
l Board Composition; Diversity in Board Room; Types of Directors;
Board’s Role and Responsibilities
l Chairman, CEO, Separation of Roles
l Relationship between Directors and Executives
l Visionary Leadership
l Board Charter, Meetings and Processes
l Directors’ Training and Development
l Performance Evaluation of Board and Directors
5. Board Committees
l Introduction
l Various Board Committees, their Composition, Role and
Responsibilities, Contribution to Board Governance
n Audit Committee
n Shareholders Grievance Committee
n Remuneration Committee
n Nomination Committee
n Corporate Governance Committee
n Corporate Compliance Committee
n Other Committees
6. Legislative Framework of Corporate Governance in
India
l Under Listing Agreement, SEBI Guidelines, Companies Act
l Corporate Governance in
n PSUs
n Banks
n Insurance Companies
7. Legislative Framework of Corporate Governance – An
International Perspective
l Australia
l Singapore
l South Africa
l United Kingdom
l Contemporary Developments in the Global Arena
8. Risk Management and Internal Control
l Risk and its Classification
l Risk Management and Oversight
l Enterprise Risk Management
l Internal Control
l Roles and Responsibilities of Internal Control
l Disclosure about Risk, Risk Management and Internal Control
9. Corporate Governance and Shareholder Rights
l Rights of Shareholders
l Challenges in Exercising Shareholders Rights
l Corporate Governance issues with regard to Related Party
Transactions
l Role of Investor Associations in Securing Shareholders Rights
l Role of Institutional Investors in Corporate Governance
10. Corporate Governance and Other Stakeholders
l Employees
l Customers
l Lenders
l Vendors
l Government
l Society
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11. Corporate Governance Forums
l The Institute of Company Secretaries of India
l National Foundation for Corporate Governance
l Organisation for Economic Co-operation and Development
l Global Corporate Governance Forum
l Institute of Directors
l Commonwealth Association of Corporate Governance
l International Corporate Governance Network
l The European Corporate Governance Institute
l Conference Board
l The Asian Corporate Governance Association
l Corporate Secretaries International Association
Part B: Sustainability (30 Marks)
12. Sustainability
l Meaning and Scope
l Corporate Social Responsibility and Corporate Sustainability
l Sustainability Terminologies and Meanings
l Why is Sustainability an Imperative
l Sustainability Case Studies
l Triple Bottom Line (TBL)
13. Corporate Sustainability Reporting Frameworks
l Global Reporting Initiative Guidelines
l National Voluntary Guidelines on Social, Environmental and
Economic Responsibilities of Business
l International Standards
l Sustainability Indices
l Principles of Responsible Investment
l Challenges in Mainstreaming Sustainability Reporting
l Sustainability Reporting Case Studies
14. Legal Framework, Conventions, Treaties on Environmental and
Social Aspects
15. Principle of Absolute Liability – Case Studies
16. Contemporary Developments – Integrated Reporting
PROFESSIONAL PROGRAMME
MODULE 3
PAPER 7: ADVANCED TAX LAWS AND PRACTICE (100 Marks)
Level of Knowledge: Advance Knowledge
Objective: To acquire Advance knowledge of the practical and
procedural aspects of Direct and Indirect Tax Laws.
Contents:
PART A: Direct Tax Management (30 Marks)
Chapter 1: Taxation of Individual Entities, Partnership, LLP, Companies.
Chapter 2: International Taxation Covering Taxation of Non Resident
Entities, Advance Ruling, Transfer Pricing, Direct tax Avoidance
Agreement.
Chapter 3: Case studies and Practical Problems covering Advance Tax
Planning relating to Companies and Business Entities.
Part B: Central Excise, Customs, VAT and Service Tax
(70 Marks)
1. Introduction
l Special Features of Indirect Tax Levies – All Pervasive Nature,
Contribution to Government Revenues; Constitutional Provisions
Authorizing the Levy and Collection of Duties of Central Excise
and Customs
2. Central Excise Laws
l Basis of Chargeability of Duties of Central Excise – Goods,
Manufacture, Classification and Valuation of Excisable Goods
l CENVAT Credit Mechanism
l Registration, Assessment, Provisional Assessment, Manner of
Payment of Duty, Exemption, Recovery and Refunds of Duties
l Clearance of Excisable Goods; Invoice System,
Central Excise Bonds; Maintenance of Accounts and Records
and Filing of Returns, Large Tax Payer Units, Excise Audit 2000,
Audit u/s 14 and 14AA of Central Excise Act 1944
l Exemption to First Clearance of Specified Goods
l Export Incentives under Central Excise such as SEZs, STPI,
EHTP, EPZ
l Investigation, Adjudication, Appeal and Revision, including
Appearance before CESTAT by Company Secretary as
Authorized Representative; Settlement of Cases, Advance Ruling
l Search, Seizure, Arrest, Prosecution and Compounding;
Offences and Penalty
l Miscellaneous Provisions under Central Excise
3. Customs Laws
l Levy of Customs Duties, Types of Customs Duty Leviable, Tariff
Classification & Exemptions, Valuation of Imported and Exported
goods
l Provision of Assessment, Payment of Duties, Recovery and
Refund of Customs Duties
l Duty Drawback
l Procedure for Clearance of Imported and Exported Goods
l Transportation and Warehousing
l Confiscation of Goods and Conveyances and Imposition of
Penalties; Search, Seizure and Arrest, Offences and Prosecution
Provisions
l Adjudication, Appeal and Revision; Settlement of Cases,
Advance Ruling
l Other Relevant Areas and Case Studies under Custom Laws and
Rules
4. Promissory Estoppel in Fiscal Laws – Principles and Applicability
with reference to Indirect Taxes
5. Tax Planning and Management – Scope and Management in
Customs, with Specific Reference to important Issues in the
Respective Areas
6. Background, Negative List Approach, Statutory Provisions, Taxable
Services, Valuation, Point of Taxation, Place of Provision of Service,
Administrative Mechanism and Procedural Aspects, Assessment,
Computation, Levy, Collection and Payment of Service Tax,
Exemptions, CENVAT Credit for Service Tax, Returns, Refunds,
Demands, Appeals, Revisions, Advance Rulings, Settlement
Commission, Audit under Section 72A of Finance Act, 1994.
7. Goods and Service Tax (GST) – Concept and Developments
8. Background, Concept and Mechanism of VAT, Classification,
Invoicing, Exemption, Returns, Refunds, Demands, Appeals,
Revisions, Liability under VAT
9. Set off and Composition Scheme, Computation of VAT, Assessment,
VAT on Works Contract, Right to use Property, Rate of Tax,
Procedural Aspects including Registration, Preparation and Filing of
E-Returns, Audit and Appearances
PAPER 8: DRAFTING, APPEARANCES AND PLEADINGS (100
Marks)
Level of Knowledge: Expert Knowledge
Objective: To acquire expert knowledge of drafting, pleadings and
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249
advocacy techniques.
Contents:
1. General Principles of Drafting and Relevant Substantive Rules
l Drafting: Concept, General Principles and relevant substantive
rules thereof
l Basic Components of Deeds, Endorsements and Supplemental
Deeds, Aids to Clarity and Accuracy, Legal Requirements and
Implications
2. Drafting and Conveyancing relating to Various Deeds and
Agreements
l Conveyancing in General, Object of Conveyancing
l Drafting of various Agreements including Sale Agreements, Joint
Venture and Foreign Collaboration Agreements, Arbitration;
Guarantees, Counter Guarantees; Bank Guarantee,
Hypothecation Agreement, Outsourcing Agreements, Service
Agreements, E-Contracts, Leave and License, IPR Agreements,
l Promissory Note, Power of Attorney- General and Special, Will,
Relinquishment Deed, Deed of Dissolution of Partnership, Hire-
Purchase Agreement, Deed of Family Settlement and Other Deeds
l Deed of Sale of Land, Building, Mortgage, License, Lease,
Assignment, Trust, Gift, Partnership
l Drafting of Writs, Partnership Deed, Sale Agreements,
Collaboration Agreements, Hypothecation Agreements, EContracts
l Drafting of Legal Opinion
l Shareholder’s Agreement
3. Drafting of Agreements under the Companies Act
l Pre incorporation Contracts; Memorandum and Articles of
Association and other Agreements like slump sale
4. Pleadings
l Pleadings in General; Object of Pleadings; Fundamental Rules of
Pleadings
l Civil: (i) Plaint Structure; Description of Parties (ii) Written
Statement (iii) Interlocutory Application (iv) Original Petition (v)
Affidavit (vi) Execution Petition and (vii) Memorandum of Appeal
and Revision (viii) Petition under Article 226 and 32 of the
Constitution of India (ix) Special Leave Petition
l Criminal: (i) Complaints (ii) Criminal Miscellaneous
Petition (iii) Bail Application and (iv) Memorandum of
Appeal and Revision
l Application for Setting Aside Ex-Parte Decree; Ordinary Suit of
Recovery; Suit under Order XXXVII of Code of Civil Procedure,
1908
l Suit for Permanent Injunction; Application for Temporary
Injunction; Suit for Specific Performance; General Principles of
Criminal Proceedings; Application under Section 125 of Code of
Criminal Procedure, 1973; F.I.R under Section 154 of Code of
Criminal Procedure, 1973
5. Appearances
l Appearance before Tribunals/Quasi Judicial Bodies such as CLB,
SAT, NCLT, CCI, TRAI, Tax Authorities and Appellate Tribunals
l Drafting of Affidavit in Evidence; Arguments on Preliminary
Submissions, Arguments on Merits; Legal Pleadings and Written
Submissions
l Dress Code, Etiquettes and Court Craft
6. Compounding of Offences
l Compounding of Offences under the Companies Act, SEBI Act,
FEMA
l Consent Orders
7. Practical Exercises
l Notice to the Tenant under section 106 of Transfer of Property Act
l Notice under Section 80 of Code of Civil Procedure, 1908
l Reply to Notice
l General Power of Attorney
l Will
l Agreement to Sale
l Deed of Sale
l Suit for Dissolution of Partnership
l Petition for grant of Probate / Letters of Administration
l Petition under Section 397 of Companies Act, 1956
l Application for Appointment of Receiver/Local Commissioner
l Application for Compromise of Suit
l Application for Appointment of Guardian
l Application to Sue as an Indigent Person under Order 33, Code
of Civil Procedure
l Appeal from Original Decree under Order 41, Code of Civil
Procedure
l Appeal from Orders under order 43 of Code of Civil Procedure
l Revision Petition / Review Petition
l Application under Section 5 of Limitation Act
l Application for Execution
l Application for Caveat Section 148A of Code of Civil
Procedure
l Writ Petition
l Application under Section 482 of Code of Civil Procedure
l Compounding of Offences by way of Compromise under Section
320(i) Code of Criminal Procedure
l Lease Deed / Mortgage Deed
l Special Power of Attorney
l Relinquishment Deed
l Partnership Deed / LLP Agreement
l Reference to Arbitration and Deed of Arbitration
l Deed of Gift
l Notice under Section 434 of the Companies Act
l Notice for Specific Performance of Contract
DETAILED SYLLABUS OF ELECTIVE PAPERS UNDER
PROFESSIONAL PROGRAMME
(It shall be compulsory for the students to opt any one of the five
elective papers)
ELECTIVE PAPER 9.1: BANKING LAW AND PRACTICE
(100 Marks)
Level of Knowledge: Expert Knowledge
Objective: To acquire specialized knowledge of law and practice relating
to Banking
Contents:
1. Overview of Banking System
2. Regulatory Framework and Compliances
A. Provisions of RBI Act 1935, Banking Regulation Act 1949,
Prevention of Money Laundering Act, 2002
B. Government and RBI’s Powers
l Opening of New Banks and Branch Licensing
l Constitution of Board of Directors and their Rights
l Banks Share Holders and their Rights
l CRR and SLR Concepts
l Cash-Currency Management
l Winding up – Amalgamation and Mergers
l Powers to Control Advances – Selective Credit Control – Monetary
and Credit Policy
l Audit and Inspection
l Supervision and Control – Board for Financial Supervision – its
Scope and Role
l Disclosure of Accounts and Balance Sheets
l Submission of Returns to RBI
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250
l Corporate Governance
3. Legal Aspects of Banking Operations
l Case Laws on Responsibility of Paying and Collecting Banker
Indemnities or Guarantees – Scope and Application – Obligations
of a Banker – Precautions and Rights – Laws relating to Bill
Finance, LC and Deferred Payments – Laws Relating to Securities
– Valuation of Securities – Modes of Charging Securities – Lien,
Pledge, Mortgage, Hypothecation etc. – Registration of
Firms/Companies – Creation of Charge and Satisfaction of
Charge
4. Banking Related Laws
l Law of Limitation – Provisions of Bankers Book Evidence Act –
Special Features of Recovery of Debts Due to Banks and
Financial Institutions Act, 1993
l TDS
l Banking Cash Transaction Tax
l Service Tax
l Asset Reconstruction Companies
l The Securitization and Reconstruction of Financial Assets and
Enforcement of Security Interest Act, 2002
l The Consumer Protection Act, 1986
l Banking Ombudsman
l Lok Adalats
l Lender’s Liability Act
5. Banker – Customer Relations
l The legal relationship between the Banker and Customer, the
Multifarious Transactions between them and the Rights and
Duties of the Parties springing out of such relationship
l Nature of Banking Business
l Legal Nature of Banker-Customer Relationship and
their Mutual Rights and Duties
l Special Categories of Customers, such as Corporations,
Partnership Firms, Hindu Joint Families, Unincorporated Bodies,
Trusts, Joint Account Holders, Minors, Nominee Accounts,
Liquidator, Mercantile Agents, Non-Resident Indians,
Foreigners and the Legal Incidence of Each
l Different Types of Accounts such as Current
Accounts, Savings Bank Account and Fixed Deposits
l Other Transactions between Banker and Customer such as Safe
Deposit Vaults, Financial Advice, Letters of Introduction and
Other Services Rendered by Banks
l Special features of the relationship between banker
and customer – Their mutual rights and duties – lien – Power to
combine different accounts – Secrecy of account
6. Loans and Advances
l Law, Practice and Policies governing the employment of the
funds in the hands of the banker with special reference to the
lending banker
l State Policy on Loans and Advances – Priority sector advances
and socio-economic policies – Financial inclusion – Self-
Employment Schemes – Women Entrepreneurs – Small Scale
Industries – Agricultural Finance, Export Finance, etc. – Micro
Finance – How the banker profitably uses the fund – Call loans and
loans repayable at short notice – Loans and advances –
Overdrafts – Legal control over bank’s deployment of funds
7. Securities for Banker’s Loans
l The legal issues involved in and the practice governing the
different kinds of securities for banker’s advances and loans
l Guarantees, pledge, lien, mortgage, charge – subject
matters of collateral security
l Corporate Securities
l Documents of title to goods
l Land and Buildings
l Book debts
l Life Policies
l Factoring; Bill Discounting; Bank Guarantees; Letters of Credit;
Commercial Papers
8. Financial Analysis of Banks
l Introduction; Role of financial analysis in financial management;
Techniques of Financial Analysis; DuPont Model of Financial
Analysis; Special issues in Financial Analysis of Banking Industry
9. Financial System Contemporary and Emerging
Issues: An Overview
l Introduction; Role of Financial System; Capital Flow Through
Intermediary Financial Institutions; Direct Capital Flow; Primary
Market Products; Primary Market Issue Facilitators; Secondary
Market; Economic Importance of Financial Markets.
10. International Banking Management
l International Banking : An Overview
l Legal & Regulatory Framework
l International Banking Operations Management
l Risk Management in International Banking
l Special Issues: Technology and International Banking;
Globalisation and International Banking; Financial Innovations in
International Banking
11. Electronic Banking and IT in Banks
l IT in Banking : An Introduction
l IT Applications in Banking- Computer-Based Information
Systems for Banking; Electronic Banking; Electronic Fund
Management
l Enabling Technologies of Modern Banking- Electronic Commerce
and Banking; Supply Chain Management; Customer Relationship
Management; Integrated Communication Networks for Banks
l Security and Control Systems – Cybercrimes and fraud
management
l Planning and Implementation of Information Systems
12. Risk Management in Banks
l Risk Management: An Overview
l Credit Risk Management
l Liquidity and Market Risk Management
l Operational Risk Management
l Special Issues- Risk Management Organisation; Reporting of
Banking Risk; Risk Adjusted Performance Evaluation
l Basel III
13. Ethics and Corporate Governance in Banks
l Ethics and Business
l Corporate Governance
l Corporate Social Responsibility
l Governance in Financial Sector
ELECTIVE PAPER 9.2: CAPITAL, COMMODITY & MONEY MARKET
(100 Marks)
Level of Knowledge: Expert Knowledge
Objective: To acquire specialized knowledge of Capital, Commodity and
Money Market
Contents:
1. Economic Framework
l Basic structure of Flow of funds in the economy;
l Capital Markets its Role in Capital formation, Functions of
Liquidity, Resource Allocation and Transaction Cost-reduction
2. Legal Framework
l Ministry of Finance (Capital Markets Division, Department of
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251
Economic Affairs)
l Ministry of Corporate Affairs
l Companies Act, 1956
l SEBI Act, 1992
l Securities Contracts (Regulation) Act, 1956 (SCRA)
l Depositories Act, 1996
l SEBI Regulations and Guidelines- An Overview, SEBI
(Prohibition of Insider Trdaing) Regulations, 1992, SEBI
(Substantial Acquisitions of Shares and Takeovers) Regulations,
2011 (SAST)
l Prevention of Money Laundering Act, 2002
l Grievance Redressal Mechanism: Stock Exchange (Investor
Protection Fund), SEBI, Securities Appellate Tribunal (SAT),
Supreme Court
l Enforcement: Economic Offences Wing, Financial Intelligence
Unit, Central Bureau of Investigation, Financial Action Task Force
(FATF)
3. Financial Intermediaries Framework
l Framework of Market Infrastructure Institutions (MII), Stock
Exchanges Clearing Corporations, Custodians
l Depositories, Depository Participants, Registrars and Transfer
Agents (RTA), Bankers to issue
l Merchant Bankers, Underwriters, Investment Advisors, Portfolio
Managers, Self Certified Syndicate Banks
l Brokers, Sub-brokers, Market-makers
l Credit Rating Agencies
4. Primary Markets
l IPO, FPO, Offer for Sale, Private Placement, Preferential
Allotment, Institutional Placement Procedures (IPP), Qualified
Institutional Placement (QIP), Rights Issue, Bonus Issue
l Prospectus, DRHP, Shelf Prospectus, Red Herring prospectus
l Private Investment in Public Equity (PIPE)
l SEBI (Issue of Capital & Disclosure Requirements) Regulations,
2009
l Lead Manager (Pre & Post Issue Activities)
l Due Diligence Review
l Underwriting obligations
l Basis of Allotment
l Book-building
l Pre-issue and Post-issue activities,
l Green-shoe Option
l Pre-listing and Post-listing activities, Listing Agreement
5. Secondary Markets
l Opening day (listing)
l Continuing compliance obligations and disclosures:
Post-listing activities, Corporate Actions
l Requirements for Continuing Listing
l Corporate Governance Norms
l Disclosures as per Listing Agreement: Price Sensitive
Information, Material Changes, Quarterly results
l Functioning of an Exchange: Margining, Trading, Clearing and
Settlement, Trade Guarantee Fund, Trading Software, Arbitration
Mechanism
l Stock Market Indices
6. Capital Market Investment Institutions
l Domestic Financial Institutions (DFI), Qualified Institutional
Buyers (QIB), Foreign Institutional Investors (FII) , Private Equity
(PE), Angel Funds, HNIs, Venture Capital (VC), Qualified Foreign
Investors (QFI), Mutual Funds, Alternative Investment Funds
(AIF), Hedge Funds, Pension Funds
7. Capital Market Instruments
l Equities
l Preference Shares, Shares with Differential Voting Rights (DVR)
l Corporate Debt: Non Convertible Debentures (NCD), Partly-and
Fully-Convertible Debentures (PCD, FCD)
l NCDs with or without Call and Put Features
l Bonds, Foreign Currency Convertible Bonds (FCCB)
l Indian Depository Receipts (IDR)
l Derivatives: Single Stock Futures, Single Stock Options, Index
futures (SENSEX, NIFTY), Index Options, Interest Rate Futures,
Currency futures
l Exchange Traded Funds (ETF)
l Warrants
8. Resource Mobilization through International Markets
l Global Depository Receipt (GDR)
l American Depository Receipt (ADR)
l Listing on the London Alternative Investment Market (AIM),
NASDAQ, NYSE
9. Landmark Studies and Report of Committees on
Capital Markets
10. Economics of Commodities Marketing
a. Economic Rationale for Commodities Trading Place
and store value
b. Perishables and non-perishables
c. Tangibles and Intangibles (Weather , Freight)
d. How resources can be optimized through price hedges
11. Commodities Market Operations
l Origin of Commodity Market in India
l Products, Participants and Functions
l Evolution of Commodity Exchanges; Regulatory Framework
l Structure Of Commodity exchanges, membership, Risk
Management, Clearing and Settlement System, Commodities
Traded on Stock Exchanges Platform-NCDEX, MCX-SX
l Instruments available for Trading
l Using commodity exchanges for Hedging, Speculation and
Arbitrage
12. Introduction to Money Market
l Nature & Deployment of Surplus Funds and Raising
of Short-term funds, Characteristics of Money Market
l Regulatory framework of RBI, FIMMDA (Fixed Income, Money
Market and Derivatives Association) and Foreign Exchange
Dealers Association of India (FEDAI)
l Call Money Market-Players, Utility, Money market Instruments:
Commercial Paper, Certificates of Deposits, Bills of Exchange,
Treasury Bills (T-Bills), Bill Discounting, Factoring, Letter of
Credit, Money Market Mutual Funds, Fixed Maturity Plans
ELECTIVE PAPER 9.3: INSURANCE – LAW AND PRACTICE (100
Marks)
Level of Knowledge: Expert Knowledge
Objective: To acquire specialized knowledge of law and practice relating
to Insurance.
Contents:
1. Understanding and Managing Risk –
l Risk Management – Perils – Nature – Risk Analysis – Planning –
Control – Mechanism for Transfer of risk – Insurance and
Reinsurance
2. General Principles and Concepts of Insurance
l Insurable Interest – Indemnity – Uberrimae fidei – Proximate Cause
– Subrogation and Contribution – Differentiation Insurance and
Guarantee – Insurance and Wager – Disclosure – Moral Hazards
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252
3. Insurance Contract and Indian Market Conditions
l Nature of Insurance Contract – Features of Insurance Contract –
Types of Insurance – Concept of Intermediaries – Market Players
and their Roles – Agents, Brokers, Surveyors & Loss Assessors,
Health Third Party Administrators, Certification of Insurance
Professionals, Training Organizations.
4. Regulatory Environment – Specific Legislations
l Regulation of Insurance Business, Insurance Act, Insurance
Regulatory and Development Act, Powers and Functions of IRDA,
Relevant Regulations and Guidelines issued by IRDA, Licensing,
Audit & Supervision, Investments, Amalgamation and Transfer,
Grievance Redressal, Rural and Social Sector obligations,
Micro Insurance, Financial inclusion, Product Approval.
5. Regulatory Environment – General
l Other Relevant Legislation (Motor Vehicles Act, Marine Insurance
Act, Employees State Insurance Act etc.), Consumer Protection,
Courts, Tribunals, Insurance Ombudsmen, Arbitration.
6. International Regulatory Framework –
l International Association of Insurance Supervisors – Future Trends
7. Life Insurance – Practices, Procedures
l Application of Principles in Life Insurance Contract —
Representation – Assignment and Nomination – Title and Claims –
Tax Law Implications – Concept of Trusts in Life Policy – Stamp
Duties – Role and Function of Life Insurance Companies.
8. Life Insurance & Pension Products –
l Life Insurance Products – Proposals, Policy and documentation
9. General Insurance – Practices and Procedures – Focus
Underwriting
l Application of Principles in General Insurance Contracts –
Structure of the Policy – Insurance Documentation – Underwriting
and Rating – Disclosure – Terms and Conditions
10. General Insurance – Practices and Procedures – Focus
Claims
l Claims Procedures – Underinsurance – Condition of Average –
Recovery – Salvage.
11. General Insurance Products
l Property Insurance (Fire and Engineering)
l Marine Insurance (Hull and Cargo)
l Motor Insurance
l Business Interruption
l Liability Insurance (Public, Products, Professional, Directors &
Officers etc.)
l Personal Lines (Health, Accident, Travel, Residential Premises
etc.)
l Rural and Agricultural
l Micro-Insurance
l Other Miscellaneous lines (Burglary, Bankers’ Risks, Fidelity etc.)
12. Ethics and Corporate Governance Framework for
Insurance Companies
l Financial Statements, Protection of Policy holders, Concept of
Treating Customers Fairly (TCF), Actuarial and Other
Certifications
ELECTIVE PAPER 9.4: INTELLECTUAL PROPERTY RIGHTS – LAW
AND PRACTICE (100 Marks)
Level of Knowledge: Expert Knowledge
Objective: To acquire advance knowledge of law and practices relating
to intellectual property.
Contents:
1. Introduction
l Meaning, Relevance, Business Impact, Protection of Intellectual
Property
l Copyrights, Trademarks, Patents, Designs, Utility Models, Trade
Secrets and Geographical Indications
l Bio-diversity and IPR
l Competing Rationales for Protection of Intellectual Property
Rights
l Introduction to the leading International Instruments concerning
Intellectual Property Rights: the Berne Convention, Universal
Copyright Convention, The Paris Convention, Patent Cooperation
Treaty, TRIPS, The World Intellectual Property
Organization (WIPO) and the UNESCO
2. Patents
l Concept of Patent
l Product / Process Patents & Terminology
l Duration of Patents- Law and Policy Consideration Elements of
Patentability,- Novelty and Non Obviousness (Inventive Steps
and Industrial Application, Non- Patentable Subject Matter
l Procedure for Filing of Patent Application and types
of Applications
l Procedure for Opposition
l Revocation of Patents
l Ownership and Maintenance of Patents
l Assignment and licensing of Patents
l Working of Patents- Compulsory Licensing
l Patent Agent- Qualification and Registration Procedure
3. Patent Databases & Patent Information System
l Patent Offices in India
l Importance of Patent Information in Business Development
l Patent search through Internet, Patent Databases
4. Preparation of Patent Documents
l Lab Notebooks/Log Books/Record Books
l Methods of Invention Disclosures
l Patent Application and its Contents
l Reading & Writing of the Patent Document
5. Process for Examination of Patent Application
l Publication of Patent Applications
l Request for Examination
l Process for Examination & Prosecution
l Reissue & Reexamination
6. Patent Infringement
l Literal Infringement
l Doctrine of Equivalence and Doctrine of Colorable Variation
l Contributory Infringement
l Defenses to Infringement including Experimental
Use, Inequitable Conduct, Patent Misuse
l Legal Aspects (Act, Rules, Procedures)
7. Recent Developments in Patent System
l Software and Business Method Patenting in India & other
Jurisdiction
l Patentable Inventions with Special Reference to
Biotechnology Products entailing Creation of New Forms of Life
8. Trademarks
l The rationale of protection of trademark as (a) an aspect of
commercial and (b) of consumer rights
l Definition and concept of Trademarks
l Different kinds of marks (brand names, logos, signatures,
New Syllabus For Executive And Professional Programmes
253
symbols, well known marks, certification marks and service marks)
l Non Registrable Trademarks
l Procedure for Registration of Trademarks
l Opposition Procedure
l Assignment/Transmission/Licensing of Trademarks
l Infringement of Trademarks
l Passing off Action
l Offences and Penalties
l International Conventions- Madrid Protocol
l Domain Names
l WIPO Internet Domain Name Process
9. Copyrights
l Nature of Copyright
l Works in which Copyrights subsist
l Author & Ownership of Copyright
l Rights Conferred by Copyright
l Assignment, Transmission, Licensing of Copyrights
l Infringement of Copyrights
l Remedies & Actions for Infringement of Copyrights
l Copyright Societies, Office, Board, Registration of Copyrights &
Appeals
l International Conventions
l Copyright pertaining to Software/Internet and other Digital media
l Remedies, especially, possibility of Anton Pillar Injunction Relief
in India.
10. Industrial Designs
l What is a Registrable Design
l What is not a Design
l Novelty & Originality
l Procedure for Registration of Designs
l Copyright under Design
l Assignment, Transmission, Licenses
l Procedure for Cancellation of Design
l Infringement
l Remedies
11. Geographical Indications
l Meaning and Nature
l Who are entitled for registration
l Conditions & Procedure for Registration
l Offences and Penalties
12. Protection of Trade Secrets
13. Key Business Concerns in Commercializing Intellectual Property
Rights
l Competition and Confidentiality Issues, Antitrust Laws
l Employee Confidentiality
l Assignment of Intellectual Property Rights
l Technology Transfer Agreements
l Intellectual Property Issues in the Sale of Business
l Care & Maintenance of Confidential Information
l Legal Auditing of Intellectual Property
l Due Diligence of Intellectual Property Rights in a Corporate
Transaction
14. Management and Valuation of Intellectual Property
15. Recent Trends and Development
ELECTIVE PAPER 9.5: INTERNATIONAL BUSINESS – LAWS AND
PRACTICES (100 Marks)
Level of Knowledge: Expert Knowledge
Objective: To acquire specialized knowledge in International business,
law, procedure and practices.
Contents:
1. Introduction
l International Business – Nature and Scope,
l Globalization – Meaning, Levels, Merits, Limitations and
irreversibility of Globalization
l Need to go global
l Internationalization Decisions (entry modes)
l SEZ features
2. International Business Environment
l Meaning of Environment
l Dimensions – PEST to STEEPLE
l Internal Environment and External Environment
l SWOT Analysis
l Various approaches to Assess competitiveness including Michael
Porter’s 5- Forces Model
l Global Competitiveness Index
3. Multi National Enterprises (MNEs) and Foreign Direct
Investment (FDI)
l Meaning and Characteristics
l Role of MNEs in host economy
l Trends in Global FDI
l Trends in FDI with reference to India
l Issues with MNEs – Taxation, Restrictive Trade Practices,
Currency, Jurisdiction and Technology Transfer
4. Foreign Trade Policy and Procedures
l Introduction to Foreign Trade Policy
l Institutional Framework for Export Promotion
l Export Incentives and Facilities
l EPZ/FTZ/100% EOUs
l Quality Control for Exports
l Export Prospects for Select Products and Services
l INCO Terms
l International Commercial Arbitration-Shipment and Post
Shipment Finance
l SEZ-Incentives and Benefits
l Method of Realizing Export Payments and Ensuring Guaranteed
Export Payment
l Central Excise Clearance Formalities
l Customs Regulations and Clearance Formalities for Exports &
Imports
l Duty Draw Back Claims Procedure
l Foreign Trade Financing – Export & Import
l Foreign Exchange Risk Management
l International Credit Management
l Warehousing
l Instruments of Trade Policy and India’s Trade Policy
5. International Trade and Regional Economic Integration
l Theory – Mercantilism, absolute advantage and comparative
advantage
l Trends in Global Trade
l Trends in India’s Trade
l Types of Regional Economic Integration – Free Trade Area,
Custom Union, Common Market, Economic Union, Monitory
Union and Political Union etc.
l Trading Blocks- ASEAN,SAFTA,SAARC,NAFTA,EU
6. Institutional Environment
l Pre WTO Scenario, difference between GATT and WTO
l Trade Related Institutions – WTO and UNCTAD
l WTO – Basic Principles, various agreements, Functions and
Areas of Operations, Dispute Settlement Mechanism (rules and
procedures)
l IMF, IBRD, ADB
l Commodity Agreements
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254
7. Anti-Dumping Duties
l WTO Provisions on Anti-Dumping-, Anti-Dumping Duties,
Procedure and Developments
l Regulatory Framework for Anti Dumping in India
l Recent Anti Dumping Cases in India
8. Subsidies and Countervailing Duties
l WTO Provisions
l Administration
l Procedure and Emerging Trends
l Regulatory Framework for Subsidies & Countervailing duties in
India
e. Doha Development Round
9. Foreign Collaborations and Joint Ventures
l Foreign Direct Investment Policy, Industrial Policy
l Kinds of Collaboration and Joint Ventures
l Drafting of Agreement
l Restrictive Clauses in the Foreign Collaboration/Joint Venture
Agreements
l International Commercial Arbitration
10. Strategic Alliances
l Meaning, Rationale, Types, Trends in Alliances in New
Competitive Environment, Strategic Alliance Failures, Managing
Strategic Alliances.
11. Logistics Management
l Logistics Framework- Concept, Objective and Scope
l Transportation, Warehousing, Inventory Management, Packing
and Unitization, Control and Communication
l Role of IT in Logistics, Logistics Service Firms and
Third Party Logistics
New Syllabus For Executive And Professional Programmes
SCHEME OF PAPERWISE EXEMPTION
FOR SWITCHOVER FROM OLD SYLLABUS TO NEW SYLLABUS
EXECUTIVE PROGRAMME
Existing syllabus Paper-wise Exemption under New syllabus
MODULE 1
1. General and Commercial Laws * Please Refer Note
2. Company Accounts and Cost & Management Accounting Module-1, Paper-2 Cost and Management Accounting
3. Tax Laws Module-1, Paper-4 Tax Laws and Practice
MODULE 2
4. Company Law Module-1, Paper-1 Company Law
5. Economic and Labour Laws * Please Refer Note
6. Securities Laws and Compliances Module-2, Paper-6 Capital Markets and Securities Laws
*Note:In case the student has obtained 60 or more marks in paper 1 AND paper 5 under old syllabus and has obtained the
exemption as per rules, then, he shall be exempted to appear in paper 3 (Economic and Commercial Laws) AND
Paper 7 (Industrial, Labour and General Laws) under new syllabus.PROFESSIONAL PROGRAMME
Paper 7 (Industrial, Labour and General Laws) under new syllabus.PROFESSIONAL PROGRAMME
Existing syllabus Paperwise Exemption under New syllabus
MODULE 1
1. Company Secretarial Practice Module-1, Paper-1 Advanced Company Law and Practice
2. Drafting, Appearances and Pleadings Module-3, Paper-8 Drafting, Appearances and Pleadings
MODULE 2
3. Financial, Treasury and Forex Management Module-2, Paper-5 Financial, Treasury and Forex
Management
4. Corporate Restructuring & Insolvency Module-1, Paper-3 Corporate Restructuring, Valuation and
Insolvency
MODULE 3
5. Advanced Tax Laws and Practice Advanced Tax Laws and Practice
MODULE 4
6. Due Diligence and Corporate Compliance Management Module-1, Paper-2 Secretarial Audit, Compliance Management and Due Diligence
7. Governance, Business Ethics and Sustainability Module-2, Paper-6 Ethics, Governance and Sustainability
By order of the Council
M.S. Sahoo
Secretary
