Indian Corporate Law Service

Overview

It is the regulatory service for the corporate sector in India. It is a Central Civil Service (Group A) and functions under the Ministry of Corporate Affairs, Government of India. The main role is to regulate the corporate sector and protect the rights of the investors, particularly small investors. It is responsible for the implementation of Companies Act,1956, Companies Act, 2013 and The Limited liability Partnership Act, 2008.

Professional Opportunities

Junior Time Scale

⦿ Entry level (Probationer), Registrar of Companies In-charge, Assistant Registrar of Companies, Assistant Official Liquidator, Assistant Director, Senior Assistant Director, Serious Fraud Investigation office (SFIO), Assistant General Manager, IEPF Authority

Senior Time Scale

⦿ Registrar of Companies, Official Liquidator, Deputy Registrar of Companies, Deputy Official Liquidator, Deputy Director, Deputy Director, Serious Fraud Investigation office (SFIO), Deputy Director, Indian Corporate Law Service Academy, Indian Institute of Corporate Affairs, Manesar, Deputy General Manager, IEPF Authority

Junior Administrative Grade

⦿ Registrar of Companies, Official Liquidator, Joint Director, Secretary, Company Law Board, Joint Director/ Additional Director, Serious Fraud Investigation office (SFIO), Additional General Manager/ General Manager, IEPF Authority, Deputy Secretary to the Government of India on Deputation

Senior Administrative Grade

⦿ Regional Director, Director of Inspection and Investigation, Director of Prosecution, Joint Secretary to the Government of India on Deputation, Member- National Company Law Tribunal, National Company Law Appellate Tribunal

Higher Administrative Grade

⦿ Director General of Corporate Affairs, Additional Secretary to the Government of India on Deputation through the Central Staffing Scheme, Technical Members in Tribunals like NCLT & NCLAT, Member in Insolvency & Bankruptcy Board

Career Path

Stream

⦿ Any Stream

Graduation

⦿ Graduation in field of Law, Accounts or Finance

After Graduation

⦿ Clear UPSC exam

Important Facts

⦿ The training of the ICLS officers takes place at the ICLS Academy located in the Indian Institute of Corporate Affairs, Manesar, Haryana for a period of ten months.
⦿ Graduation is a must to appear for the UPSC exam.
⦿ It falls under Group A services of UPSC cadre”
Recruitment takes place through the Civil Service exam by UPSC.
⦿ Registrar of Companies officer ensures that all the companies are filing their annual returns and balance sheets, and all other documents. The RoC can also carry out an investigation and initiate prosecution against criminal and civil offences in this regard.
⦿ The Official Liquidators are appointed by the Central Government and are attached to various High Courts. They are responsible for winding up of the companies on grounds like inabiltiy to pay debts.

Work Description

⦿ ICLS Cadre officers working at the Ministry level get to formulate policies, rules and regulations. ICLS deal with corporate governance in all its aspects such as high profile cases.

⦿ As a Registrar of Companies (RoC), they must certify that all the companies file their annual returns and balance sheets in order to stay on track. They are responsible for the registration process of the companies as per the registrar of companies. The official liquidators are responsible for the allocation of credits, disbursement, and release of seized and allocated resources

Pros & Cons

Pros
⦿ There are ample opportunities for promotions and growth.
⦿ The pay scale is good.
⦿ The job profile is of esteem and repute.
Cons
⦿ In some cases there is red tapism.

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