Message from the President

Dear Students

“There are these two young fish swimming along and they happen to meet an older fish swimming the other way, who nods at them and says “Morning, boys. How’s the water?” And the two young fish swim on for a bit, and then eventually one of them looks over at the other and goes “What the hell is water?” - David Foster Wallace (2005)

These words tell us about the importance of most obvious things around us, which we often do not enjoy or acknowledge. It also points to the power of our thinking and awareness about the world in which we live and how we see it. Thoughts have the power of affecting our real world. Thoughts or perceptions of a person are so deep-rooted that we react according to our thinking or perception about the world.

Therefore, it is important that we build a positive approach towards life and believe in ourselves. By staying positive, we can enjoy all little moments of joy and happiness and forget those worries which can bother us with negative thoughts and cause de-motivation.

So think positive and stay motivated,

Best Wishes,

CS Mamta Binani President president@icsi.edu

.

Inside This Issue

Academic Guidance

Student – ICSI

Academic Connect

Hindi Books relevant

for CS Course

Curriculum

Student Services

Precious ‘You’

Examination

News from Region

CS FOUNDATION COURSE (e-bulletin for Foundation Programme Students)

e-bulletin 2 October 2016

Academic Guidance

Bonding with Bond – The Corporate Bond Scenario in India*

Prologue

With the onset of LPG (liberalization, privatization and globalization) regime, the bond market in India has undergone a metamorphosis. The bond market in India has diversified to a great extent, which in turn is assisting in providing stability to the economy. The bond market holds mammoth potential in raising funds to support the infrastructural development undertaken by the government and expansion plans of the companies. The bond market in India can be classified into following categories- Corporate Bond Market; Municipal Bond Market; Government & Agency Bond Market; Funding Bond Market and Mortgage Backed & Collateral Debt Obligation Bond Market. Some of the notable reforms introduced in Indian bond market are as follows:

a) Introduction of auctioning system to sell the government securities.

b) The introduction of delivery versus payment (DvP) system by the Reserve Bank of India to quash the risk of settlement in securities and assure the smooth functioning of the securities delivery and payment.

c) The computerization of the SGL.

d) The introduction of innovative products such as capital indexed bonds and zero coupon bonds to attract more and more investors from the wider spectrum of the populace.

e) Sophistication of the market for bonds such as inflation indexed bonds.

f) The development of more and more primary dealers as creators of India’s bond markets.

g) The establishment of a powerful regulatory system called the trade for trade system by the Reserve Bank of India which stated that all deals are to be settled with bonds and funds.

h) A new segment called the Wholesale Debt Market (WDM) was established at the NSE to report the trading volume of the bond markets.

i) Issue of ad hoc treasury bills by the Government of India as a funding instrument was abolished with the introduction of the Ways And Means agreement. 1

This article focuses upon Corporate Bond Market and significant aspects and developments associated with it. Corporate bonds are bonds which are issued by private or public sector companies in order to borrow funds from the market. When investors invest in a corporate bond, they effectively lend money to the issuer, or the company that issued the bond. In exchange, the

1 “Bond Market in India”, http://business.mapsofindia.com/sectors/financial/bond-market.html, Accessed on August 19th, 2016.

* Akinchan Buddhodev Sinha, Assistant Director, ICSI.

The views expressed are personal views of the author and do not necessarily reflect those of the Institute.

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company promises to repay the principal amount on a specified maturity date. Until that date, the company usually pays a stated rate of interest, generally semi-annually. With the passage of time, there have been eye-catchy jumps in corporate bond issues. The initiatives of Reserve Bank of India, SEBI and the Government have resulted in substantial rise in issuance as well as secondary market trading of corporate bonds. Total corporate bond issuance increased by approximately 155% from INR 2709.46 billion in 2010-11 to INR 4789.62 billion in 2014-15. Similarly, the number of issuances soared by around 77% from 4,280 in 2010-11 to 10,941 in 2014-15 (refer exhibit 1). However, in comparison to other economies, the size of the bond market in India remains modest as a percentage of GDP (refer exhibit 2).2

Measures to strengthen Corporate Bond Market

There has been numerous reports by expert Committees on development of corporate bond market in India, i.e. Report of High Level Expert Committee on Corporate Bonds and Securitization in 2005 (R.H. Patil Committee), Report of the High Powered Expert Committee on Making Mumbai an International Financial Centre in 2007 (Percy Mistry Committee), A Hundred Small Steps [Report of the Committee on Financial Sector Reforms (CFSR)] in 2009 (Dr. Raghuram Rajan Committee), Reports of the City of London etc. These Committees have observed various facets pertaining to the development of corporate bond market and have made important recommendations. Many of these recommendations have been already implemented by the Government and the concerned regulators. The success of these initiatives / measures in accomplishing the intended results has, however, been varied. Impact of some of the measures has been covered under exhibit 3.3

The Union Budget of 2016-17 has come up with the following measures in order to foster corporate bond market-

a) LIC of India will set up a dedicated fund to provide credit enhancement to infrastructure projects. The fund will help in raising the credit rating of bonds floated by infrastructure companies and facilitate investment from long term investors.

b) RBI will issue guidelines to encourage large borrowers to access a certain portion of their financing needs through market mechanism instead of the banks.

c) Investment basket of foreign portfolio investors will be expanded to include unlisted debt securities and pass through securities issued by securitisation SPVs.

d) For developing an enabling eco system for the private placement market in corporate bonds, an electronic auction platform will be introduced by SEBI for primary debt offer.

e) A complete information repository for corporate bonds, covering both primary and secondary market segments will be developed jointly by RBI and SEBI.

f) A framework for an electronic platform for repo market in corporate bonds will be developed by RBI.4

2 “Corporate Bond Markets in India: A Framework for Further Action”, https://rbi.org.in/Scripts/BS_SpeechesView.aspx?Id=980, Accessed on August 22nd, 2016.

3“Report of the Working Group on Development of Corporate Bond Market in India”, https://www.rbi.org.in/Scripts/PublicationReportDetails.aspx?UrlPage=&ID=853#AN2, Accessed on August 23rd, 2016

4 “Union Budget 2016-17-Measures for Deepening of Corporate Bond Market”, https://www.rbi.org.in/Scripts/PublicationReportDetails.aspx?UrlPage=&ID=853#AN2, Accessed on August 23rd, 2016

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Researching Further

In a recent move the banking and capital market regulators have put forward a series of initiatives to try and deepen the country’s corporate bond market. The regulators, however, have stopped short of immediately accepting corporate bonds as a collateral at the central bank’s Liquidity Adjustment Facility (LAF) window, although they propose to march in that direction ultimately. According to analysts this step would provide an impetus to the corporate bond market.

By referring to the excerpts from the Report of the Working Group on Development of Corporate Bond Market in India, August 2016, it can be observed that concrete measures are in pipeline to provide fillip to the Indian corporate bond market. Some of the notable measures are as follows:

a) Based upon the suggestions given by market participants, SEBI may revisit at the guidelines issued in October 2013 so as to clarify on day count convention, shut period, basis for yield computation, calculation of coupon interest and redemption with intervening holidays with illustrations. The date of payment may be specified as the date on a Mumbai business day, the day on which RBI and money market functions.

b) In terms of Schedule 5 of the “Foreign Exchange Management (Transfer or issue of Security by a Person Resident outside India) Regulations, 2000” (FEMA 20), Foreign Portfolio Investors (FPIs) can invest in only following categories of unlisted debt securities-

i) unlisted Non-convertible debentures (NCDs)/bonds issued by infrastructure companies;

ii) primary issuances of to-be-listed NCDs/bonds, i.e., which are committed to be listed within 15 days of issue on private placement basis.

To broaden the investor base for corporate houses issuing unlisted and securitized debt instruments, as mentioned above, the Union Budget of 2016-17 has announced that the investment basket for FPIs in corporate debt may be expanded to include unlisted debt securities and pass-through securities ( PTCs) issued by securitization by SPVs.

It is to be noted that currently investment by FPIs in corporate bond is subjected to overall limits prescribed by RBI from time to time. The existing limit is INR 2443.23 billion. Keeping in view the strong mechanism for capture of limits used by FPIs, FPIs may be allowed to transact in corporate bonds both in the OTC segment and in the Request for Quote (RFQ) platform of a recognized stock exchange, subject to certain safeguards. This will also enable FPI to trade directly on electronic trading platforms and thereby assist in increasing liquidity in the corporate bond market. Required changes may be incorporated in both FEMA notification and SEBI guidelines to facilitate direct trading in FPIs in corporate bonds without engaging brokers.

c) Banks and PDs have been permitted by RBI to buy and sell protection in the CDS market. Mutual funds, Insurance companies and Pension funds have been permitted to participate in CDS only as buyers of credit protection. Some market participants observed that there was absence of clarity with reference to counting of exposure after buying CDS protection on a particular bond. RBI guidelines on Credit Default Swap for corporate bonds dated 23rd of May, 2011 clearly mention that the protection buyer shall replace his original exposure to the reference entity, with that of the protection seller. The recommendation given on this point is that in terms of RBI guidelines on credit default swaps, the credit exposure of a protection buyer shall be on the protection seller. In case of need for further

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clarification of doubts, if any, market participants may seek the confirmation of the respective regulators.

d) Market making scheme in corporate bond possess the potential to improve market liquidity. Taking into account the present state of corporate bond market where liquidity is extremely low, availability of market makers can provide both entry and exit options to the investors. SEBI, vide its circular dated 24th January, 2013, has permitted stock exchanges to launch market making schemes subject to its approval.

e) Currently private placements totally dominate the primary segment of the corporate debt market accounting for more than 90% of the total issuance of corporate debt. Corporate opts for raising funds through private placements as against public issues due to operational ease of issuance, i.e. minimum disclosures, low cost of issuance, customized structures and the pace of raising funds. Several market participants have indicated that private placements are devoid of transparency and access is not available to huge pool of investors. The Union Budget 2016-17 announced that SEBI may operationalize electronic auction platforms to facilitate transparent private placements. In this regard, guidelines have been issued by SEBI on April 21, 2016 which enable introduction of Electronic Book Mechanism (EBM) by the stock exchanges and mandate that all private placements of debt securities in primary market with an issue size of Rs.500 crore and above, inclusive of green shoe option, if any, should be through such a mechanism. Such EBMs have been operationalized by the Stock Exchanges. Bonds with issue size of less than Rs. 500 crore are required to disclose the coupon, yield, amount raised, number and category of investors to the Electronic Book Provider and / or to the information repository for corporate debt market. Such issuances should also be covered under EBM over time. SEBI may consider extending the EBM to all its issuances after reviewing the success of the EBM for the existing issues and market feedback.5

Way Forward

The following points highlight the need for development of a robust corporate bond market-

a) Lower the cost of capital, since bonds provide a cheaper source of funds than bank loans.

b) Relieve stress on Banking Sector with NPA/inability to continue infrastructure financing.

c) Migrate Indian Households’ physical savings in gold and real estate to financial savings in quality bonds to support economic revival.

d) Diversify the financial system away from banks and alleviate exposure to systemic risk.

e) Bond markets are resilient during recessions whereas bank lending is markedly pro-cyclical, contracting significantly during recessions and recovering during expansions.

In view of the aforesaid points, corporate bonds need to act as a catalyst in stepping up future lending / investing instead of bank loans and bank fixed deposits. A healthy corporate bond market is of utmost important for Government of India to assist in funding for fast track implementation of various projects in infrastructure and heavy industries sector.

The total investment to GDP ratio in India averaged 35.4% from 2004-05 to 2012-13. Infrastructure sector investment to GDP averaged approximately 7.2% during the same period. Presuming average 8.05% for the period 2015-16 to 2024-25 and considering debt requirement,

5 “Report of the Working Group on Development of Corporate Bond Market in India, August 2016”,

http://www.sebi.gov.in/cms/sebi_data/attachdocs/1471519221779.pdf, Accessed on August 24th, 2016.

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and availability, the likely gap for infrastructure has been estimated to be nearly INR 55 trillion. Similarly, the gap for non-infrastructure sector has been estimated to be approximately INR 36 trillion, total being nearly INR 91 trillion (refer exhibit 4). A number of sensitivity cases carried out on ‘what if’ basis revealed that a minimum debt requirement of INR 60 trillion is there.

Thus, taking into consideration the above facts, it can be said without an iota of doubt that there is mammoth potential for new corporate bond issues over the next 10 years. As an immediate measure, converting current loan portfolio into corporate bonds would provide the requisite fillip to the development of bond market. 6

Exhibit 1

Issues and Total Outstanding Corporate Debt

Financial Year

Issuance details % change

in issuance

Net outstanding (As at end-

March)

No. of outstanding instruments

% change in outstanding

amount No. of issues Amount

2010-11 4,280 2,709.46

8,895.09 12,155

2011-12 5,565 3,100.69 14.44 10,516.38 13,721 18.23

2012-13 5,578 3,880.25 25.14 12,901.46 15,874 22.68

2013-14 4,911 3,881.51 0.03 14,673.96 13,104 13.74

2014-15 10,941 4,789.62 23.40 17,503.20 19,439 19.28

2015-16 (up to Sept 2015)

4,358 1,442.48 69.88 18,660.59 21035 6.61

Source: Securities and Exchange Board of India

Exhibit 2

Size of the Local Currency Corporate Bond Market in Other Asian Economies

(as a % of GDP)

Q2 2014 Q2 2015

China 17.8 18.8

Hong Kong 29.3 29

Indonesia 2.2 2.2

South Korea 74 76.4

Malaysia 41.3 41.5

Philippines 5.6 5.8

Singapore 30.6 32.4

Thailand 16.7 17.4

Japan 16.9 16.2

{Source: Asia Bond Monitor, Sept 2015}

6 “Corporate Bond-Crisil: Young Thought Leader 2016”, Lakshmi PriyaRamani, Indian Institute of Foreign Trade (IIFT), Delhi,

https://www.crisil.com/crisil-young-thought-leader/dissertations/2015/Lakshmi-Priya-Ramani.pdf, Accessed on August 24th

, 2016

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Exhibit 3

Intended outcomes mostly achieved

Intended outcomes partially achieved

Intended outcomes not yet achieved

• Setting up of reporting platform for post-trade transparency

• Introduction of DvP in settlement of OTC trades in corporate bonds to eliminate settlement risk

• Issue of long-term bonds by banks allowed with a minimum maturity of seven years to raise resources for lending to (a) long term projects in infrastructure sub-sectors, and (b) affordable housing. These bonds have been exempted from computation of net demand and time liabilities (NDTL) and are therefore not been subjected to CRR/SLR requirements

• The investment limit for Foreign Portfolio Investors (FPI) has been increased to Rs. 2443.23 billion. Limit allocation methodology has been rationalized and withholding tax rate has been reduced from 20% to 5%

• FPIs have been permitted to invest only in corporate debts of at least three years of residual maturity

• International financial institutions like IFC were permitted to float rupee linked bond overseas to deepen the off-shore rupee bond market so that IFC and other investors can raise rupees to invest in India. This has facilitated development of benchmark yield for long term corporate bonds

• SEBI has allowed setting up of dedicated debt segment on the exchanges

• Banks and PDs allowed by RBI to become members of stock exchanges to trade in corporate bonds

• Investment norms for banks and PDs relaxed by RBI to facilitate investment in corporate bonds

• Final guidelines issued by RBI for partial credit enhancements by banks to corporate bonds

• Measures taken by SEBI to encourage investor interest/participation in the corporate bond market in terms of liberalizing the listing requirements, simplification of procedures and processes and simplified disclosure norms

• Rationalisation of FPI regulations has been put in place by SEBI for easier registration process and operating framework for overseas entities seeking to invest in Indian capital markets

• Introduction of Repo in corporate bonds to meet the funding needs

• Introduction of Credit Default Swaps to facilitate hedging of credit risk by the holders of corporate bonds

•Reissuance of bonds permitted by SEBI

Source: RBI

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Exhibit 4

Debt Requirement Over Next 10 Years

Source: ADB Report August 2014

***

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Student-ICSI Academic CONNECT Students may clarify their subject specific academic queries related to study material between 2.00 p.m. to 3.00 p.m. on all working days (Monday - Friday) at 011-45341074.

Students may also write their academic queries on academics@icsi.edu

Dear Students,

We are pleased to share that with a view to update the students on important

developments on daily basis, the Institute has initiated ‘News Headlines’ on the

Academic corner of the Institute’s website www.icsi.edu.

Students are requested to take advantage of this new initiative.

Our best wishes for all your endeavors.

Team ICSI

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Hindi Books relevant for CS Course Curriculum

From Shree Mahavir Publications:

Vyavsayik Arthshasttra, Part – I, by M D Aggarwal

Vyavsayik Vatavaran Avem Udhiamitta by Gupta & Chaturvedi

Vyavasayik Prabandh, Neeti shastra Avem Sanchar, by Sharma & Chaturvedi

Vyavasayik Arthashasttra Part – II, by S C Sharma,

Lekhankan Ke Mool tatv Avem Ankenshan, by P C Gupta & C L Chaturvedi

Aarthik Avem Samanaye Vidhi, by Jain & Gupta

Prabhandh Lekhanken by M D Aggarwal & N P Aggarwal

Lagat Lekhanken by S N Maheshwari & S N Mittal

Cost Accounting – Theory & Problems by Maheshwari S N & Mittal SN

Cost Accounting & Financial Management, by S N Maheshwari & S N Mittal

Audhyogik, Shram Avem Samanye Vidhi by Jain & Gupta

Pratibhouti Sanniyam Avem Anupalan, by Jain & Gupta

Adhunik Bhartiya Company Adhiniyam by M C Kuchhal

Adhunik Bhartiya Company Law by M C Kuchhal

From Taxmann Publications:

Vyaparik Evam Samanya Vidhi by Shubham Aggarwal

Bharat Law House:

Systematic Approach to Taxation Containing Income Tax & Indirect Taxes by Dr. Girish Ahuja & Dr Ravi Gupta

Eastern Book Company:

Adminstrative Law (Prashasanik Vidhi) by C K Tekwani

Consumer Protection Law (Upbhokta Sanrakshan Vidhi) by S P Gupta

Company Law (Company Vidhi) by Avtar Singh

Constitution of India (Bharat KaSamvidhan) by EBC

Art of Conveyancing and Pleading (Abhivachonon ke Prarooparn aur Abhihastaantarn - lekhan ki kala) by Murli Manohar

Systematic Approach To Income Tax, Service Tax & VAT (Hindi Edn.) by Dr. Girish Ahuja

For viewing, please visit : https://www.icsi.edu/docs/webmodules/Preciousyou.pdf

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Student Services The details of National Level Competitions for the students for the year 2016 are as follows:

S.No Activities Scheduled Date Host Winners

1 All India Elocution Competition

8th July 2016 NIRO Ms. Mega Balyan (440205129/08/2014)- AHMEDABAD (WIRC)

2 All India Company Law Quiz

15th July 2016 EIRO

Mr. Chirag Kular (440128509/02/2014 )-RAJKOT (WIRC)

Mr. Kamil Lakhani (440170151/05/2014 )-RAJKOT (WIRC)

3 All India Moot Court Competition

30th July 2016 PUNE Chapter Ms. Nikita Nagori (140081380/02/2014)-BANGALORE (SIRC)

Ms. Ramya C (340141893/02/2015)-BANGALORE (SIRC)

4 All India Essay Writing Competition

26th July 2016 EIRO Mr. Anish Shankar Menon (320557992/01/2010)- BANGALORE (SIRC)

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IMPORTANT INFORMATION FOR THE STUDENTS OF THE

CS FOUNDATION PROGRAMME

The Institute has initiated various steps to provide instantaneous services to its stakeholders by the use of technology. More and more services are being added in this march for automation. The study material is now fully available to one and all through the online portal. Some of services and their uses which are important for awareness are listed :

CALL CENTRE

The Institute has established a dedicated call centre with Phone No.s 011-33132333 & 011-66204999. The Call Centre provides for Interactive Voice Response as well as a Ticketing Mechanism.

eBOOKS

Students have now been provided various options for study material. In addition to softcopy of the study material, eBooks have also been developed. All such eBooks shall be displayed when the website of the Institute www.icsi.edu is viewed only through mobile device. These eBooks can be freely downloaded on the mobile device for reading. Appropriate reader for these epub file may be downloaded from respective online stores. For example for android mobile platform, the online store play.google.com may be used. There are many readers available on the android platform and many of them have got enhanced capability of speech and search. One such reader on the android platform is Cool Reader. All the epub files can be downloaded and opened through such eBook readers.

CS TOUCH - ANDROID BASED MOBILE APPLICATION

The Institute of Company Secretaries of India has launched ‘CS touch’ an android and IOS based mobile application for students and members recently. CS touch is an android and IOS based mobile application for web based content Management system. The application features are Splash screen, home screen, top menu screen. Following categories will be available to end users in times to come like Announcements, Events, Photo Gallery, Videos, President message, ICSI in media, Contact us, Know your Institute, Favourite, Setting and Info among others. CS touch is available in Google play store. You can download the same from Google play store.

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VALIDITY OF CS FOUNDATION PROGRAMME ADMISSION

The Institute has stipulated 03 years period for the validity of Foundation Programme admission. Accordingly, all those students who have registered upto October, 2013 may please note that their admission to the Foundation Programme stands cancelled on expiry of three years period at the end of September 2016.

Students who have not passed the Foundation Examination within the validity period of their registration and are not graduates, may seek fresh admission online at Institute’s website www.icsi.edu together with the Foundation Programme admission fee of Rs. 4500/-.

REGISTRATION FOR CS EXECUTIVE PROGRAMME

Students who have passed the Foundation Program examination held in June 2016 and register in Executive Program upto and including 31st August, 2016 would be eligible to appear in both modules of the Executive Program to be held in June 2017 examination and students who will take registration in Executive Program between 1st September, 2016 to 30st November, 2016 will be eligible to write only one module in June 2017 examination of the Executive Programme.

Students can register online at institute’s website www.icsi.edu at online services option at the following link https://smash.icsi.in/Scripts/Registration/Instructions.aspx?ID=R1. The fee for seeking registration for Executive Programme is Rs. 8500/- which can be paid online either through credit/debit card/net banking/bank challan.

CHANGE OF ADDRESS/CREATION OF PASSWORD

Students are advised to update their addresses instantly through online services option at www.icsi.edu. Their Registration Number shall be their user Id itself. Students can also reset their password anytime (The new password will be displayed on the screen).The process is given below.

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1) Visit Institute’s website www.icsi.edu

2) Click on ON-LINE SERVICES (top right side of your screen)

3) Click on Student Login

4) Type your registration number in Username

5) Click on Reset password (students only)

6) Enter your all details (i.e. Your Programme, Registration Number, Gender, DOB, Pin Code etc.)

7) Click on Proceed.

8) Enter your correct e-mail id & mobile number

9) Click on Reset Password and Get the password on screen.

UPDATION OF E-MAIL ADDRESS/ MOBILE NUMBER

Students are advised to update their E-Mail Id and Mobile Numbers timely so that important communications are not missed as the same are sent through bulk mail/SMS nowadays. Students may update their E-mail Id/ Mobile Number instantly after logging into their account at www.icsi.edu at request option.

STUDENT IDENTITY CARD

Identity Card can be downloaded after logging into the Student Portal at www.icsi.edu. After downloading the Identity card, students are compulsorily required to get it attested by any of the following authorities with his/her seal carrying name, professional membership No., designation and complete official address:

1. Member of the Institute, with ACS/FCS No.

2. Gazetted Officer of the Central or State Government.

3. Manager of a Nationalized Bank.

4. Principal of a recognized School/College.

5. Officer of ICSI.

Unattested Identity Cards are not valid and the students are advised to carry duly attested Identity Card for various services during their visits to the offices of the Institute, Examination Centres, etc.

VERIFICATION OF PARTICULARS IN THE STUDENT ACCOUNT

Students are advised to invariably check the particulars in their online Account and point out discrepancies, if any, in name, photograph, signature, paper-wise exemption status, validity of registration, other particulars, etc. to avoid mismatches in Identity Card, Admit Card, Attendance Sheet, etc. which may create complications at the time of appearing in the examinations, declaration of results, issue of mark sheets, etc.

All the students are further advised to maintain uniformity in their signatures on student’s identity card, enrollment application and attendance sheet provided in the examination hall at the time of writing examinations.

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REGULARISATION OF FOUNDATION PROGRAMME ADMISSION

Students provisionally admitted to the Foundation Programme are advised to upload the scanned copies of their Senior Secondary Marksheet/Pass Certificates for regularizing their admission at their online account at www.icsi.edu. They are required to login at their account to upload the desired marks sheet/certificate at manage account option. Subsequently they are required to go to certificate details tab option to upload the 12th Pass marksheet/certificate. Students, who have already uploaded/submitted their Senior Secondary Examination Markssheets/Pass Certificate and have not received any confirmation with regard to approval of their admission, must contact the Institute immediately either through online grievance Redressal module or ticketing mechanism of the Institute quoting the following particulars:

Name

Details of Fee paid

Admission No.

Email Address

Complete Postal Address with Pincode

CANCELLATION OF PROVISIONAL ADMISSION

Provisional admission of the students, who fail to submit/upload the requisite proof of having passed the Senior Secondary (10+2) examinations within the stipulated time period of six months, shall stand cancelled and no refund of fee will be made. It is informed further that the students registered provisionally in Foundation stage and have not submitted their 12th pass certificate or marksheet will not be allowed to appear in December 2016 examination.

IMPORTANT INFORMATION FOR THE STUDENTS OF THE CS FOUNDATION PROGRAMME STUDY MATERIAL

All registered students who have uploaded their documents successfully and their application has

been approved by the Institute are supplied with the set of study material. Those who have not

received Study material, are therefore, advised to send their request /query through Grievance

Solutions Cell. Details of submitting request through grievance solutions cell is given below under

the head “ ICSI Grievance Solutions Cell”

SELF STUDY

The Institute provides a set of study materials to all students of Foundation Program for their self-

study. Students have option to study the subjects of their own and appear in next examination of the

institute for which they are eligible. Attending classes is not compulsory.

24 HOURS CS HELPLINE

The Institute has launched a 24 Hours CS Helpline to inform the students about the CS Course & Profession. The students can have pre-recorded replies on the CS Course round the clock through the Interactive Voice Response System (IVRS) by dialing 011-41504444. For detailed information, in this regard, please log on to the website of the Institute i.e. www.icsi.edu.

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PLEASE NOTE THAT PAYMENT OF FEE BY CHEQUE & MONEY ORDER IS NOT ACCEPTED BY THE INSTITUTE.

Schedule of Submission of Examination Form & Requests for Changes in Examination Enrollment Status pertaining to December, 2016 Session of Examinations

Students desirous of appearing in December, 2016 Session of CS Foundation Programme Examinations may please note that the last dates for submission of online examination form & requests for changes in examination enrollment status are as under : -

Particulars Last Date

Submission of examination form and fee for appearing in Foundation Programme (Computer-based) Examinations without late fee

25th September, 2016

Submission of examination form and fee for appearing in Foundation Programme (Computer-based) Examinations with Late Fee of Rs.250/-

10th October, 2016

Change of Examination Centre(*) 18th November, 2016 (Upto 16:00 Hours)

(*) The online facility for submission of requests for change in Examination Centre will be activated from 11th October, 2016 onwards.

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ATTENTION STUDENTS !

EXPECTATIONS FROM THE STUDENTS DURING THE EXAMINATION ENROLLMENT FOR DECEMBER, 2016 CS EXAMINATIONS

Some of the common errors committed by the students during the examination enrollment process are given hereunder with an advice to the students to be careful and avoid such errors which will help in eliminating the complications at a later stage.

Sl.No. Errors/ consequence Expectations from the Students 1 Incorrect selection of Examination

Centre, Medium & Module resulting in complications in their examination enrollment

Students are advised to be extremely careful while filling up the form & recheck all the parameters selected by them before finally submitting the form.

2 Requests for change of Examination Centre, Medium & Module are made after expiry of the stipulated dates which are not accepted by the Institute

After the last date for enrollment to examinations (with late fee) i.e. 10th October, 2016, the online facility for submission of request for change of Examination Centre, Medium & Module is activated. Accordingly, students can submit their requests changes from 11th October, 2016 upto 15 days before the commencement of examinations. Students are advised to submit their requests for changes strictly as per stipulated dates. For December,2016 examination, the stipulated last dates are as under:

Foundation Programme (Computer Based) Examination

18th November,2016 upto 16:00 Hours

Executive & Professional Programmes Examination

6th December,2016 upto 16:00 Hours

3 Non-submission of request for Change of Elective Subject before submitting the examination form and in such cases, students will have no choice but to appear in the existing elective subject prior to examination enrollment

Students are allowed to opt for a different Elective Subject, if needed, in every examination session. However, the Online Request for Change of Elective Subject should be submitted before submitting the examination form. Once the examination form is submitted by the students, they will not be allowed to change the elective subject for the said session.

4 Delay in deposit of Cash & Short remittance of Cash against Bank Challan (e.g. students generate Bank Challan on 25th September, 2016 and deposit the cash in bank on 26th September, 2016 or a later date

Students may please note that those who generate the bank challan upto 25th September, 2016 (which is the last date for submission of examination form without late fee) have to deposit the cash in bank on 25th September, 2016 itself. In case they fail to

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without the applicable late fee) resulting in applicability of late fee.

deposit the cash by 25th September, 2016, they are required to regenerate the challan and deposit the cash with applicable late fee.

5 Deposit of Cash against Bank Challan after the last date of examination enrollment (with late fee) i.e. 10th October resulting in rejection of examination application submitted by the students.

Students may please note that those who generate the challan on or before 10th October, 2016 (Last date with late fee) are required to deposit the same latest by 10th October, 2016 itself otherwise the examination form submitted by them will be rejected for late remittance of fee.

6 Non-verification of preliminary enrollment status displayed on the website of the Institute resulting in complications at the time of downloading the admit card/ appearing in the examinations

The preliminary examination enrollment status in respect of each enrollment request is updated & displayed on the website of the Institute www.icsi.edu on real time basis. Students are expected to verify the status of their examination enrollment and point out the discrepancies, if any, immediately to the Institute at enroll@icsi.edu OR at Tel.No. 011- 33132333/ 66204999. Students should check the preliminary enrollment details well in advance rather than pointing out the discrepancies when it is too late.

7 Non-availability of a valid fee receipt/ acknowledgement for the examination fee paid failing which the examination application submitted shall be rejected.

Students may please note that they should hold a valid fee receipt/ acknowledgement bearing a unique acknowledgement number for the examination fee remitted by them which is automatically generated by the system at the time of making the payment. Some students assume that the payments made by them are successful considering the debit entry in their bank accounts which may be credited back to their accounts after a few days in case of failed transactions. Therefore, it is in the interest of the students to ensure that they are having a valid fee receipt/ acknowledgement for the payments made by them. It may please be noted by the students that excess fee, if any, received by the Institute would be refunded to them.

8 Delay in seeking Registration Denovo / Extension pending approval of requests for Registration Denovo/ Extension, students shall not be able to submit the examination form

The registration to regular stage (consisting of Executive Programme & Professional Programme) is valid for a period of five years. Students whose registrations are expiring in the month of February/ August are eligible for appearing in June/ December Examinations respectively. However, students whose registrations are expiring prior to the months

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of February/ August are required to seek Registration Denovo/ Extension (as per guidelines) to become eligible for appearing in June/ December Session of Examinations. Students are required to seek Registration Denovo/ Extension leaving a reasonable period for its approval to become eligible for submitting the examination form by the stipulated dates.

9 Non-verification of paper-wise exemption granted to the students automatically/proactively by the Institute under the 60% Marks Criteria. Students appearing in the examinations disregarding the exemption granted may please note that the exemptions in the said papers (including the exemptions granted in inter-related papers) are cancelled resulting in complications at the time of computation of results.

As per the revised process followed by the Institute, paper-wise exemptions applicable on the basis of 60% Marks Criteria on the basis of their performance in June, 2016 Examinations shall be granted to the students automatically by the Institute and the same shall be shown in their individual online accounts & in the Admit Card. Students are advised to be extremely careful while deciding to appear in the examinations of exempted papers as the exemptions granted to them in those papers and also inter-related subjects shall be cancelled which can not be revived. Students who are not interested to avail the exemption may cancel the same by sending a formal request to the Institute at exemption@icsi.edu . However, students may please note that exemptions once cancelled cannot be revived under any circumstances. Students are advised to inform whether they want to retain or cancel the exemption by the last date for enrollment to examination i.e. by 10th October, 2016.

10 Non-submission of paper-wise exemption requests at Professional Programme Stage based on ICAI(Cost) Final Pass. The exemptions are not granted automatically resulting in complications at the time of appearing in the examinations.

Students who are granted exemptions in Executive Programme Stage on the basis of ICAI(Cost) Final Pass are not automatically granted exemptions in Professional Programme Stage. Students are essentially required to submit a formal request for exemption in Professional Programme Stage separately and students should not assume such exemptions are granted automatically by the Institute on the basis of their request submitted when the students were at the Executive Programme Stage.

11 Non-regularisation of Provisional Registrations to Foundation Programme/ Executive Programme

Students who have been provisionally registered to Foundation Programme & Executive Programme Stages of CS Course are

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resulting in rejection of examination enrollment request and/ or cancellation of results

essentially required to regularise their registrations within a maximum period of six months from their date of registration by submitting the proof of passing 10+2 Examinations / Bachelor’s Degree Examinations respectively failing which the registrations will be cancelled. Students must regularise their provisional registrations before submitting their examination forms to avoid complications at the time of examination enrollment & declaration of results.

12 Non-verification of the photograph & signature in Online Accounts of the Students resulting in complications at the time of issue of Admit Card/ appearing in the examinations

Students are expected to point out discrepancies, if any, in the photograph & signature available in their online profile/ account to avoid mismatches in Admit Card, Attendance Sheet, etc. In case photograph & signature are not available in the online account, students must upload the same at the time of examination enrollment process.

13 Non-submission of Request for Switchover to Professional Programme (New Syllabus) without which the Professional Programe(Old Syllabus) students shall not be able to submit examination form from December, 2016 Session

The last examination under Professional Programme(Old Syllabus) has been held in June, 2016. All students under Professional Programme(Old Syllabus) are essentially required to submit online switchover request at www.icsi.edu to become eligible to enroll for December, 2016 Session of CS Examinations.

SUMMARISED CHECK POINTS FOR STUDENTS TO AVOID COMPLICATIONS IN EXAMINATION ENROLLMENT

Have you correctly filled up the Combination of Module(s)?

Have you correctly filled up the Medium of Examination?

Have you correctly filled up the Examination Centre?

Have you checked the availability of correct photograph and signature in your online account?

Have you successfully remitted the examination fee and downloaded the fee receipt / acknowledgement?

Have you checked the preliminary enrollment details on the website www.icsi.edu?

Have you checked the validity of your existing registration?

Have you gone through the guidelines of paper-wise exemption and complied with the requirements thereof ?

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Have you gone through the guidelines of switchover to new syllabus and complied with the requirements thereof ?

Have you regularised your provisional registration to Foundation Programme / Executive Programme by submitting the proof of passing 10+2 Examinations / Bachelor’s Degree Examinations respectively?

NOTE : In case your answer to any of the questions given above is “NO”, there is every chance of complications in the examination enrollment which may affect the enrollment, appearance, results, etc. Therefore, please make it a point to ensure compliance with all the check points given above to avoid complications.

SCHEDULE OF ENROLLMENT FOR DECEMBER, 2016 CS EXAMINATIONS

LAST DATE FOR SUBMISSION OF EXAMINATION FORM : 25TH SEPTEMBER, 2016

LAST DATE FOR SUBMISSION OF EXAMINATION FORM ( WITH LATE FEE ) : 10TH OCTOBER, 2016

MODE OF ENROLLMENT : ONLINE MODE(www.icsi.edu)

For any queries/ clarifications pertaining to examination enrollment, students may contact the Institute through :

Tel.Nos. 011-33132333 / 66204999 Grievance Portal at www.icsi.edu

(https://www.icsi.in/student/Home/SuggestionsGrievances.aspx) Feedback System on “CS Touch” App

Dedicated E-Mail Id : grievance.solutions@icsi.edu

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ICSI GRIEVANCE SOLUTIONS CELL The Institute in its endeavour to improve the service delivery mechanism to the Members, Students and other stakeholders has established a Grievance Solutions Cell. In case stakeholders feel that their queries are not being properly attended, they may submit their grievance online through “Grievance Portal” by following the steps given below :-

1. Click on the “Online Services” button on the home page of Institute’s Website (http://www.icsi.edu).

2. Click on “Login” button. 3. Enter your User ID (Registration Number / Membership Number) and Password 4. Click on “Login” button 5. Click on “Home” Option and select “Suggestion/Grievances” option 6. Select the Options available as per the nature of your query and enter the details 7. Click on the “Submit” button

Alternatively, the grievances may be sent at E-Mail Id : grievance.solutions@icsi.edu.

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UPDATES /NOTIFICATIONS FROM THE INSTITUTE ARE NOW AVAILABLE ON SOCIAL NETWORKING SITES

Students can now visit the webpage of the Institute on the following Social networking sites to get details regarding various notifications and updates of the Institute.

1. Facebook

2. Twitter

Click on appropriate links on home page of ICSI website to get access to these webpages.

https://twitter.com/indiacs

https://www.facebook.com/ICSI

APPLICATION FOR SCHOLARSHIPS THROUGH NATIONAL SCHOLARSHIP PORTAL

(www.scholarship.gov.in)

Students may please be aware, a Single Window National Scholarship Portal has been created by Government of India for managing the various scholarship schemes. Please note that the Code No. allotted to the Institute is “9” and students who have already applied through any other code (For example 45022) are advised to re-submit the request as per procedure given at the following link at the website of the Institute www.icsi.edu by selecting Institute’s Code No. 9. https://www.icsi.edu/Docs/Website/APPL_FOR_SCHOLARSHIPS_THROUGH_NATIONALSCHOLARSHIPPORTAL.pdf

ATTENTION STUDENTS! DEDUCTION OF 30% OF THE TOTAL FEE REMITTED BY THE APPLICANT IN RESPECT OF

REGISTRATIONS LYING PENDING FOR MORE THAN A YEAR

The Institute has decided to reject the applications of such students who do not submit the documents within one year after their registration in Foundation and Executive programme by deducting 30% of the fee remitted by them towards administrative charges after expiry of one year. Therefore it is advised that all such students may submit their documents in the stipulated time period failing which their registration applications would be rejected.

STUDY CENTERS

ICSI is setting up Study Centres in cities/ locations where the Regional/ Chapter Office of the Institute does not exist to facilitate the students. For details kindly visit the following link. https://www.icsi.edu/docs/website/Study%20Centre.xlsx

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CS Olympiad

The Institute has organised the first “CS Olympiad” on 15th September, 2016 & next one is being organized on 4th October, 2016 in association with Science Olympiad Foundation. The registrations for the CS Olympiad are underway through the respective Schools. Students of 11th & 12th Class during the academic year 2016-17 are eligible to enrol for the Olympiad. Elaborate details about the Olympiad are available on the dedicated portal www.csolympiad.info Attractive Cash Awards and Certificates shall be distributed among the Top Rank Holders at All India Level and also the top rank holders in different zones. The students of the Institute may encourage the eligible candidates (those who are pursuing 11th & 12th during the current academic year 2016-17) among their friends and relatives to enrol for the CS Olympiad through their schools.

Kind Attention Students !!

Institute has launched upgraded online registration facility for the students of Foundation and Executive stage. The students registered before 15th June 2016 in Foundation, Executive and Professional stage are required to log in at the following link to avail the online services.

https://www.icsi.in/student/Login.aspx

It is further informed that students of Foundation stage who have registered from 15th June 2016 onwards and students who have registered in Executive Programme from 23rd Sep 2016 onwards are required to log in at the following link to avail the online services.

https://smash.icsi.in/Scripts/login.aspx

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Know the president

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Dear Student,

This has reference to the webcast organised by the institute addressed by President, The ICSI for the students of the Institute across the country and abroad through the monthly series of webcast titled Precious ‘You’ on 18th September 2016 at 3:00 PM.

We are glad to inform you that this webcast received an overwhelming response from the students and majority of students have requested to get access to the content of this informative webcast for their further reference.

Considering the same and to facilitate the students who could not watch this webcast online, the webcast has also been made available on “You tube” at the following link.

https://youtu.be/iuB_N1qb95Y

You all are advised to visit the link as given above to avail this unique opportunity.

ICSI

Join ICSI on Social Media

Give your suggestions & queries during the webcast

***

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Examination

1. COMPUTER BASED EXAMINATION (CBE) DECEMBER, 2016

The next Computer Based Examination for CS Foundation Programme will be held on 3rd and 4th December, 2016 as per the following Examination Time-Table and Programme.

DAY AND

DATE

OF EXAMINATION

SUBJECTS BATCH

NO.

EXAMINATION TIMINGS

From To

Saturday,

3rd December,

2016

Paper-1 Business Environment and Entrepreneurship AND

I 9.30 A.M. 11.00 A.M.

II 12.00 Noon

1.30 P.M.

Paper-2 Business Management, Ethics and Communication

III 2.30 P.M. 4.00 P.M.

IV 5.00 P.M. 6.30 P.M.

Sunday,

4th December, 2016

Paper-3

Business Economics AND

I 9.30 A.M. 11.00 A.M.

II 12.00 Noon

1.30 P.M.

Paper-4 Fundamentals of

Accounting and

Auditing

III 2.30 P.M. 4.00 P.M.

IV 5.00 P.M. 6.30 P.M.

*Allotment of time-slot to each student will be made by the Institute and no request for change of time-slot will be entertained.

2. EXAMINATION CENTRES FOR COMPUTER BASED EXAMINATION – DECEMBER, 2016

The Computer Based Examination for Foundation Programme scheduled in December, 2016 shall be conducted at 115 examination centers, viz., 1. Agra, 2. Ahmedabad, 3. Ahmednagar, 4. Ajmer, 5.Akola, 6.Allahabad, 7. Alwar, 8. Amravati, 9. Ambala, 10. Asansol 11. Aurangabad, 12. Bangalore, 13. Bareilly, 14. Beawar, 15.Belgaum, 16. Bhayander, 17. Bhilai, 18. Bhilwara, 19. Bhopal, 20. Bhubaneswar, 21. Bikaner, 22. Bilaspur, 23. Calicut, 24. Chandigarh, 25. Chennai, 26. Chittorgarh, 27.Coimbatore, 28. Dehradun, 29. Delhi (East), 30. Delhi (North), 31. Delhi (South), 32. Delhi (West), 33. Dhanbad, 34. Durgapur 35.Ernakulam, 36. Faridabad, 37. Gandhinagar, 38. Ghaziabad, 39. Gorakhpur, 40. Guntur-Amaravati 41.Gurgaon, 42. Guwahati, 43. Gwalior, 44.Hisar, 45. Hooghly, 46. Howrah, 47. Hubli-Dharwad, 48.

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Hyderabad, 49. Indore, 50. Jabalpur, 51. Jaipur, 52. Jalandhar, 53.Jalgaon, 54. Jammu, 55. Jamnagar, 56. Jamshedpur, 57. Jhansi, 58. Jhunjhunu 59. Jodhpur, 60. Kanpur, 61. Kolhapur, 62. Kolkata (North), 63. Kolkata (South), 64. Kota, 65. Kottayam, 66. Lucknow, 67. Ludhiana, 68. Madurai, 69. Mangalore, 70. Meerut, 71. Mumbai (CG), 72. Mumbai (GTK), 73. Mumbai (JOG), 74. Muzaffarnagar 75. Mysore, 76. Nagpur, 77. Nashik, 78. Navi Mumbai, 79. Noida, 80. Pali, 81. Panaji, 82. Panipat, 83. Patiala, 84. Patna, 85. Pimpri-Chinchwad, 86. Puducherry, 87. Pune, 88. Raipur, 89. Rajkot, 90. Ranchi, 91. Rohtak 92. Rourkela, 93. Sagar, 94. Salem, 95. Satara, 96. Shimla, 97. Sikar, 98. Siliguri, 99. Sonepat, 100. Srinagar, 101. Surat, 102. Surendranagar 103.Thane, 104. Thiruvananthapuram, 105. Thrissur, 106. Tiruchirapalli, 107.Tumkur 108. Udaipur, 109. Ujjain, 110. Vadodara, 111. Varanasi, 112. Vijayawada, 113. Visakhapatnam, 114. Yamuna Nagar and 115. Overseas Centre — Dubai.

NOTES: 1. Jhunjhunu (Rajasthan); Muzaffarnagar (Uttar Pradesh); Asansol & Durgapur (West Bengal) are on Experimental Basis.

2. The Institute reserves the right to withdraw any centre at any stage without assigning any reason.

3. Please note that no request for change of examination venue will be entertained in respect of a particular city, where multiple examination venues exist.

3. FREQUENTLY ASKED QUESTIONS REGARDING COMPUTER BASED EXAMINATION (CBE)

The Institute introduced Computer Based Examination (CBE) in place of OMR Based Examination for its Foundation Programme students from June, 2014 session of examination onwards. Consequently, the next Computer Based Examination for CS Foundation Programme will be held on 3rd and 4th December, 2016. The Institute has prepared some FAQs given herein below to familiarise, guide and sensitise the students about CBE.

Q.1: What is Computer Based Examination (CBE)?

A: In CBE, a candidate appears for the examination, which is conducted entirely through computer thus replacing use of paper and pen in the examination.

Q.2: Is computer knowledge required to appear in Computer Based Examination?

A: No. The computer interface is easy to use and requires no previous knowledge of computer. Candidates would be required to sit before a computer terminal and use computer-mouse while attempting the questions. Therefore the candidates, at the most, need to know only how to use computer-mouse in CBE.

Q.3: Is Computer Based Examination conducted using Internet?

A: No. CBE is conducted using secured Local Area Network (LAN).

Q.4: In case of any problem in computer or Local Area Network (LAN), who will assist the candidates?

A: IT professional(s) will remain present to assist the candidates in case of any eventuality.

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Q.5: Where will the Computer Based Examination be held?

A: CBE would be held in all those cities in India and abroad where the Institute’s existing examinations are held and it shall be conducted at specified examination centres/venues. The list of examination centres is available on the Institute’s website: https://www.icsi.edu/docs/webmodules/Regionwise_CentreList_Dec2016_Exam.pdf. However, the address of examination centre/venue would be provided on the Candidates’ Admit Card.

Q.6: What are the dates for conduct of CBE in December, 2016 and maximum time allowed for each subject of examination?

A: CBE will be held in two days i.e. on 3rd & 4th December, 2016, as per the schedule provided in the Time-Table above. On each day, composite time of 90 minutes shall be provided to each candidate for both the papers (45 minutes in case of exemption in one paper. After the expiry of 90 minutes, the candidates will not be able to attempt any question or check the answer. The answers of candidates would be saved automatically by the computer system, even if the candidate has not clicked the “Finish” Button.

Q.7: How many questions would be there in each subject of Computer Based Examination?

A: There would be 50 Multiple Choice Questions (MCQs) of two marks each in every subject of CBE. On day one, candidates would be examined in Paper-1 and Paper-2, carrying 100 MCQs in all, which would be required to be attempted in 90 minutes session of examination. Similar pattern would be followed on day two for Paper-3 and Paper-4, as per the schedule of examination given above.

Q.8: How to answer a question in Computer Based Examination?

A: The Questions may be answered in any order within the stipulated examination time. Each question shall be followed by four alternative answers marked as A, B, C and D. In order to answer a question, the candidate would “click” the option/answer which he/she thinks, as the most appropriate/correct. The option, so clicked will be highlighted, automatically saved and treated as “answer” given by the candidate.

Q. 9: When should a candidate report at the examination centre?

A: One hour before the scheduled time of start of examination.

Q.10: Can a candidate take the examination from home?

A: No. The CBE is to be taken in a secure testing environment at the specified examination centre. The presence of an authorized proctor is necessary to launch and monitor the examination process.

Q.11: Is there any negative marking for the wrong answer?

A: No. There is no negative marking for the wrong answer.

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Q. 12: Can a candidate skip any question and return to the same later on?

A: A candidate can answer the question in any order he/she likes to attempt. In case a candidate does not wish to answer any question, he/she should not “click” answer for that question and instead “click” next question.

Q.13: Can a candidate review his/her answer?

A: Yes. A candidate has the option to “bookmark” any question to review at a later stage before clicking the “Finish” button.

Q.14: Can a candidate change his/her answer to any question?

A: Yes. A candidate can make changes in his/her answer(s) already chosen, by simply clicking the other alternate answer of his/her choice at any time before conclusion of examination or before clicking “Finish” button.

Q.15: How to enroll for Computer Based Examination, what is the examination fee and last date for enrolment for appearing in December, 2016 examination?

A: Candidates can apply on-line for the examination from 26th August, 2016, through the Institute’s website: www.icsi.edu after logging into their respective accounts and by submitting the examination form along with the examination fee of Rs.1200/- through credit card/debit card/net-banking/Canara Bank challan system. A separate link for enrolment would be provided on the Institute’s website.

Last date for enrolment for appearing in December, 2016 examination is 25th September, 2016. However, a candidate may enrol himself/herself online up to 10th October, 2016 by paying late fee of Rs. 250/- over and above the examination fee of Rs. 1200/-.

Q.16: Will the candidates be allowed to Change the Examination Centre after submission of examination form and payment of examination fee?

A: Candidates may submit their online requests for change of Examination Centre upto 18th November, 2016 along with payment of Rs. 250/- for such change. After the said date, students will not be allowed to change the examination centre.

Q.17: When can candidates download the Admit Card for the examinations?

A: The Admit Card can be downloaded 10 days prior to the date of commencement of examination from the Institute’s website: www.icsi.edu.

Q.18: What will be the medium of questions for Computer Based Examination?

A: Questions will be provided both in English and Hindi language except for Business Management, Ethics and Communication subject, for which questions shall be provided in English language only.

Q.19: Can a candidate get examination center of his/her choice?

A: A candidate can opt for city of his/her choice as per the list of examination centers at the time of enrolling for the examination. However, allocation of specific examination venue and timings shall be at the sole discretion of the Institute and no request for change in this respect will be entertained.

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Q.20: Will a candidate be getting some practice test before actually appearing in Computer Based Examination?

A: Mock Tests have been made available on the ICSI website for familiarizing the students with CBE. A candidate can practice as many times as he/she wants. This will allow the candidates to get acquainted with the format of Computer Based Examination in simulation environment.

Q.21: What will happen in case there is some problem in computer during the examination?

A: Additional computers will be available at the examination centers to take care of such problems. System will record every ‘click’ by a candidate and time remaining for the exam through countdown clock. In case of any problem, candidate can resume his/her exam at another computer exactly from the point where he/she last proceeded. Thus, there would no loss of time in case of any technical problem.

Q.22: What items a candidate is required to bring compulsorily at the examination centre?

A: Candidates are required to bring their Admit Card, Student Identity Card (bearing photograph and signature of the candidate) issued by the ICSI duly attested, failing which they will not be allowed to enter the Examination Centre. If due to any reason, any of the candidates is not holding the Student Identity card, he/she must bring any other photo identity card issued by the Government Departments. viz. Passport, Driving License, PAN Card, UID Adhaar Card, Voter Card, etc. to establish his/her identity. However, carrying of Admit Card is compulsory.

Q.23: Is calculator allowed in Computer Based Examination?

A: Candidates are allowed to use their own battery operated, noiseless calculator with not more than six functions, 12 digits and 2 memories in the examination centre. However use of scientific calculators is not allowed.

Q: 24: What items are banned in the examination Hall/Room?

A: Mobile phones, I-Pads, palmtop, tab, pager as well as any kind of other communication equipments capable of being used as communication device, programmable, scientific or printing model of calculators, books, printed or handwritten material, etc. are banned inside the examination Hall/Room.

Q.25: Can a candidate get paper/sheets for rough work?

A: Yes, a blank sheet, if required will be provided at the exam centre for rough work during the exam. The same must be returned to the Test Administrator before leaving the examination room. However, students are required to bring their own blue/black ball point pen.

Q.26: How will a candidate come to know which of the questions are left unanswered?

A: A candidate can navigate between questions either by clicking on “Previous” or “Next” or by directly clicking on the question, which are displayed as

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attempted/un-attempted/bookmarked for review in the paper wise summary panel. There will be a panel on computer screen showing all the question nos. in different colour scheme, that will indicate which are the questions answered, left unanswered and bookmarked for review.

Q.27: Will there be Help Desk to support the candidates?

A: Yes, there would be a Help Desk to resolve the queries of candidates appearing in CBE. Help Line Nos./e-mail id would be made available on the Institute’s website.

Q.28: What would happen if a candidate bookmarks a question but forgets to review later, and exam expires?

A: “Bookmark” is meant for reminding a candidate to review his/her answer at any time during the examination but before clicking the “Finish” button However, if a candidate skips to review his/her “Bookmark” question later on, the option to the question clicked by the candidate earlier would be saved automatically and taken as final answer.

Q.29: Are candidates with disabilities accommodated in the examination center?

A: Yes, candidates with disabilities are provided extra time/scribe/special seating arrangements/accommodation. However, such candidates are required to apply in advance to the Institute for grant of concession in this regard as per the “Guidelines for Physically Challenged Candidates to Avail Facility of Scribe/Extra-time” hosted on the Institute’s website.

Q.30: How would a candidate submit the examination if he/she has completed answering all the questions?

A: After completion of the examination, candidates can click “DONE” button. The “DONE” button will be followed by three warnings with “FINISH” button to submit the examination. The “DONE” button would be visible at the Right Hand Bottom Corner of the Exam Window and the same would be enabled after 45 minutes of commencement of the Examination.

Q.31: Can a candidate, after the examination, submit his/her feedback at the examination centre?

A: Yes. A candidate may offer his/her comments about the exam centre or the conditions in which the examination was conducted by filling feedback form available on his/her system after conclusion of examination.

Q.32: Should a candidate click the “Done” button after completing each paper?

A: No. “DONE” button shall be clicked by the candidates only when they have completed answering all the questions and wish to submit/ finish their examination.

Q.33: When is a candidate permitted to leave the Examination Hall/Room/LAb?

A: A candidate shall be permitted to leave the examination hall/room/lab only after 45 minutes of the commencement of the examination.

Q.34: What would happen if a candidate wrongly clicks the “DONE” button?

A: In case any candidate wrongly clicks the “DONE” button, warning screens would be displayed; and he/she can return to the question paper by clicking “Go to Examination”. There are three such warnings – WARNING-1, WARNING-2 and

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WARNING-3 with “FINISH” button. On clicking the “FINISH” button after “Final Warning”, examination would be completed and submitted. After submission of examination, it will not re-start at all and answers marked by the candidate would be considered for purposes of result.

Q.35: When the results of CBE will be announced?

A: The date of declaration of result of CBE would be announced on the website of the Institute www.icsi.edu.

4. GRANT OF FACILITY OF WRITER’S HELP/EXTRA TIME TO PHYSICALLY DISABLED CANDIDATES IN COMPUTER BASED EXAMINATION – DECEMBER, 2016

Any physically disabled student having a minimum of 40% physical disability or deformity of permanent nature and who wishes to seek writer’s help and/or extra time for the purpose of appearing or writing Company Secretaries December, 2016 examination should make a separate written request therefor mentioning complete details about his/her Name, Student Registration No., Complete Postal Address, Mobile Number, E-mail id, specifying nature and extent (in % term) of his/her permanent disability, etc., to The Joint Secretary (Senior Grade), Dte. of Examinations, The Institute of Company Secretaries of India, C-37, Sector 62, Institutional Area, NOIDA – 201309 (U.P.) in addition to submitting his/her enrolment application for appearing in the examination together with the following supporting documents :

(i) Disability Certificate issued by the Medical Board/Head of Deptt. or Sr. Medical Officer (Specialists) of a Central or State Govt. Hospital certifying the nature (permanent or temporary) and percentage of disability, and its duration affecting his/her writing ability and/or the normal physical functions; and

(ii) Letter of Permission issued to him/her by Sr. Secondary Board/University and/or any other professional/educational examining body, such as – University, UPSC, SSC, State Public Service Commission, Institute of Chartered Accountants of India, Institute of Cost Accountants of India, etc., granting him/her such assistance for appearing or writing the examinations.

Please note that even the physically disabled students, who had earlier been granted facility of Writer’s Help/Extra Time in the previous examination and wish to avail of such concession or assistance for writing the ensuing December, 2016 examinations are required to apply afresh giving reference of such facility granted in the past and making a separate application to The Joint Secretary (Senior Grade), Dte. of Examinations, The Institute of Company Secretaries of India, C-37, Sector 62, Institutional Area, NOIDA – 201309 (U.P.) before the last date for submission of enrolment application for December, 2016. The application for grant of Writer’s Help/Extra Time should not be clubbed with any other query or correspondence.

It is clarified that in case of disablement of temporary nature and injuries like, fracture in the arm, forearm or dislocation of a shoulder, elbow, wrist or any other illness, etc., the candidates are not eligible to seek any concession or assistance of writer/extra time.

Intimation about grant of Writer’s Help/Extra Time is normally sent 15-20 days before the commencement of each examination.

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5. ANNOUNCEMENT REGARDING ‘MERIT SCHOLARSHIP’ AND ‘MERIT-CUM-MEANS ASSISTANCE’ IN RESPECT OF JUNE, 2016 EXAMINATIONS

ATTENTION STUDENTS APPEARED IN JUNE, 2016 EXAMINATIONS

The Institute awards “Merit Scholarships” and “Merit-cum-Means Assistance” to students for pursuing Executive Programme and Professional Programme on the basis of their meritorious performance in the examinations and on merit-cum-need basis on their passing Foundation Programme and Executive Programme examinations respectively, as per the criteria stipulated under the “Merit Scholarship (Company Secretaryship Course) Scheme, 1983” and “Merit-cum-Means Assistance (Company Secretaryship Course Scheme), 1983”.

MERIT SCHOLARSHIP

In pursuance of para 7 of the “Merit Scholarship (Company Secretaryship Course) Scheme, 1983, 25 numbers of scholarships are awarded each for Executive Programme and Professional Programme Course per session only to registered students, purely in order of merit, from amongst the candidates who appeared and passed in all the subjects of their respective examination, at first attempt, in one sitting, without claiming exemption in any subject, on all-India basis and subject to fulfilling other terms and conditions as stipulated in the said scheme.

Accordingly, students who pass the Foundation Programme/Executive Programme Examination in June, 2016 and fulfill the conditions prescribed under the guidelines are eligible for award of Scholarship.

MERIT-CUM-MEANS ASSISTANCE

In pursuance of para 8 of the “Merit-cum-Means Assistance (Company Secretaryship Course) Scheme, 1983”, 25 numbers of financial assistance are awarded each for Executive Programme and Professional Programme Course per session only to registered students. According to the scheme, a candidate has to apply in the prescribed form which can be downloaded from Institute’s website: www.icsi.edu OR obtained from the Institute free of cost by sending a self addressed stamped envelope, and submit his/her application within the specified date as notified from time to time. Any candidate applying for financial assistance should have passed the Foundation Programme/Both the Modules of Executive Programme Examination, at first attempt, in one sitting, without claiming exemption in any subject. If the candidate is employed or having an independent source of income, in that case his/her income should not be more than Rs. 2,40,000 per annum and if he/she is dependent on his/her parents/guardian/spouse, then the combined income from all sources should not be more than Rs.3,60,000 per annum and also subject to fulfilling other terms and conditions as stipulated in the said scheme.

A separate notification inviting applications for award of “Merit-cum-Means Assistance” is being published elsewhere in this issue.

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6. NOTIFICATION FOR INVITING APPLICATIONS FOR ‘MERIT-CUM-MEANS ASSISTANCE’ IN RESPECT OF INSTITUTE’S JUNE, 2016 EXAMINATIONS

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7. ANNOUNCEMENT : OPENING OF NEW EXAMINATION CENTRES AT JHUNJHUNU (RAJASTHAN); MUZAFFARNAGAR (UTTAR PRADESH); ASANSOL & DURGAPUR (WEST BENGAL)

ATTENTION STUDENTS !

NEW EXAMINATION CENTRES FOR CS FOUNDATION PROGRAMME EXAMINATION - DECEMBER, 2016

The Institute is pleased to announce opening of new Examination Centres at following cities on an experimental basis w.e.f. December, 2016 session of examination onwards:

S.No. City & State Centre Code

1. Jhunjhunu (Rajasthan)) 244

2. Muzaffarnagar (Uttar Pradesh) 245

3. Asansol (West Bengal) 113

4. Durgapur (West Bengal) 114

Accordingly, candidates can opt for new examination centre at the aforesaid city (ies) while enrolling for December, 2016 examination in addition to the existing examination centres.

JOINT SECRETARY (SENIOR GRADE) DIRECTORATE OF EXAMINATIONS

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8. ANNOUNCEMENT- MERIT-CUM-MEANS ASSISTANCE FOR PURSUING CS COURSE

ATTENTION STUDENTS!

MERIT-CUM-MEANS ASSISTANCE FOR PURSUING CS COURSE

The Institute has in place a “Merit-cum-Means Assistance (Company Secretaryship Course) Scheme, 1983” for assisting financially weak and meritorious students for pursuing Company Secretaryship Course.

Salient Features of the Scheme

Candidates who have passed Foundation Programme or both Modules of the Executive

Programme examination at one sitting, in the first attempt without claiming exemption

in any paper and registered for Executive Programme or Professional Programme are

eligible to apply.

The income of such candidates, if employed or is having an independent source of

income, should not be more than Rs. 2,40,000/- per annum and if he/she is dependent on

his/her parents/guardian/spouse whether partially or wholly, the combined gross

income from all sources should not be more than Rs.3,60,000/- per annum.

The candidates have no other source from which any assistance/scholarship is received

simultaneously while pursuing the CS course.

Financial assistance is provided to 25 candidates per session (June/December) each

for pursuing CS Executive Programme and Professional Programme.

Candidates selected for the Scheme shall be paid Rs.500/-(Rupees five hundred only) per

month for ten months in addition to the reimbursement of education fees and exam fees

for the very next session.

The candidate should consciously and diligently pursue the studies and comply with all

the requirements and formalities as may be specified by the Institute from time to time.

Prescribed application form for the Merit-cum-Means Assistance (Company

Secretaryship Course) Scheme, 1983 can be downloaded from the Institute’s website –

Students- Examination at:

https://www.icsi.edu/Docs/Website/Application%20Form.pdf

The selection of the candidate for assistance will be made purely on merit-cum-means

basis subject to the terms and conditions of the scheme.

Last date for applying for the financial assistance is 25thNovember /25th May for

June/December examination respectively.

Interested candidates fulfilling the eligibility criteria as laid down under the Scheme are

invited to apply in the prescribed form alongwith required documents and send the same so

as to reach the Institute on or before November 25th/May 25th for June/December

Examination as the case may be.

Joint Secretary (Sr. Grade)

Directorate of Examinations

***

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News from Region

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CLASS ROOM TEACHING:

Stage Date of Commencement Fee

Executive Programme Module-I Morning for June 2017 examination

03.10.2016 Rs.6100/-

Executive Programme Module-II Evening for June 2017 examination

03.10.2016 Rs.5600/-

Foundation Programme Morning Batch for June 2017 examination

19.12.2016 Rs.5100/-

Foundation Programme Morning Batch for June 2017 examination

19.12.2016 Rs.5100/-

CRASH COURSE:

Particulars Date of Commencement Fee

Crash Course on Financial, Treasury and Forex Management for December 2016 examination

Saturday and Sunday, the 26th November, 2016 and 27th November, 2016

Rs.1250/-

Crash Course on Advanced Tax Laws and Practice for December 2016 examination

Saturday and Sunday, the 3rd December, 2016 and 4th December, 2016

Rs.1250/-

MODEL EXAMINATION:

Particulars Date of Commencement

Fee

Model examination for December 2016 examination for Foundation Programme, Executive Programme and Professional Programme

26th November, 2016 to 3rd December,2016

Foundation Programme: Rs.250; Executive Programme: Rs.400/- for Module-I; Rs.300/- for Module-II; Professional Programme: Rs.300/- per module.

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© The Institute of Company Secretaries of India.

All rights reserved. No part of this Bulletin may be translated or copied in any form or by any means without the prior written permission of The Institute of Company Secretaries of India.

Disclaimer :

Although due care and diligence have been taken in preparation and uploading this E-bulletin, the Institute shall not be responsible for any loss or damage, resulting from any action taken on the basis of the contents of this e-bulletin. Any one wishing to act on the basis of the material contained herein should do so after cross checking with the original source.

Editorial Team Sonia Baijal, Director

A K Sil, Director

Maninder Deep Cheema, Assistant Professor

For views/suggestions/feedback please write to : academics@icsi.edu