Representation to ministery of law to mr kapil sibbal

1. : :,):~'Ik fVlinister Shri Kapil Sibbal
: i:;i"[1"1 of Law and Justice
'Uhjl'l't:-" Appeal to review final Rules of Companies Act. 2013 and modify them as
(1011 <1-; possible
,c lhe pcople of India having professional Identity as Company Secretary
;::ih,'-;/Sludenls registered under the Act of Parliament Under Company Secretary Act.
: 'Ii;:) I"~ l'ry aggrieved and request to look in to the matter that is we Company secrC«lry
.:~ 1)(11 l))cJ11bers and 41acs Students distressed and disappointed by the New Companies
,,i =i li,~ which will cause us unemployed and will put a question on our profession and
[ 1'1 ilrolessions too related to us. Ministry passed the Companies Act in 20 I3 August
;"1":: hidl are being passed in 2013 as part of Draft rules are totally different from the
i i;l.li ,'LileS which will Impact the profession of us and related professions to us even law
fraternity is also not happy with these rules.

2. Sllhjl'ct: Appeal to review final Rules of Companies Act, 2013 and modify
them as soon as possible.
I Ill' 1,:('('lll announcements of the Rules under the Companies Act, 20 I J
is k:1Vil1g much to be desired. We the undersigned representing this
!)(ICUiliUll Containing the requests and appeals from the Members or
ICS I vvho have filled this representation on behalf of Company Secretary
. 1l1111l11111itywhich has always acted as the Corporate La' and
eiUVCI'll,lllCe Specialists and as an Institution set up under an Act 01
lll'ji'lllll'lll in 1980, We as Company secretary Comprise more tllall
3:-J.(i()U inembers and 4 lacs Students working for the Corporate Sector
;1;'1 I ivlillistry of Law and Justice to ensure that the Compliance is
1l1;liill;liih,:d at all levels.
S ii', ( hI'" the past decade Company Secretaries have worked tirelessly
with Lhe Ministry of Law and Justice to provide Justice to all the
sr~lkcholders involved in corporate sector as well as assisted in Legal
!'uks 1()!low up properly.

3. Vt' hrjll,~~ illto light our humble submission on the following areas
Ih' '( Ii Ilg your immediate attention( the mails of Individual subm issiolls
ha Vl' ;Jll'eady been sent through various representations to your Officials
at the fVlinistry ) We prepare a brief for quick action at your end :-
J. Appointment of KMP:- As per section 203 of the Companies Act,
20 j 3 read with relevant rules, every listed company and every
{lilcl' public companies having paid up capital of Rs. IOCr or more
sh~JlI have a whole-time KMP (MD, WTD, Manager, CS, etc,)
wll ich implies that Private cOlnpanies and unl isted publ ic
I..'o,npanies not having paid up capital as aforesaid are not in need
1.0 comply with provisions of Law, which actually is not the very
)ili':lltioll of law makers, because Company Secretary which is also
killlWI1 as Governance Professional is the only profession whidJr
ellsures conlpliance of the Law whether Companies Act or
otherwise. Ifwe go by the earlier Rule notified on the KMPs, every
i j~tccl companies and every other companies having paid up capital
(1 I' 1s. 5 Cr or J110re were in need to appoint a whole-time K M P
Vh ich was very much in line with intention of the Law Makers,
however, the limit of Rs. 5 Cr has been increased upto IOCr and
ii!'j vale companies have been exempted and exclusively kept out of
pUl'view of the section in question which is nothing but an utmost
shock to all stakeholders.

4. , ~('C relarial Audit:-As per section 204 read with relevant rules
every listed companies and every other public companies having
IJ;I id up capital of Rs. 50 Cr or More or Turnover of Rs. 250 Cr or
;J()I'C shall annexed with its Boards' Report a Secretarial Audit
Report given by a Company Secretary in Practice. The very effect
or section 203 and section 204 read with relevant Rules is that
Pri vate COlnpanies and unlisted public conlpany having paid up
capital as aforesaid is free from compliance because neither they
11Cccl to have a whole-time Company Secretary nor they required to
:lllllcxed Secretarial Audit to its Boards' Report. It is pertinent to
110[ethat by introducing these sections and corresponding rules, we
arc trying to have check on big public companies which are
~llready compliant due to some or reasons and on other side 'vveare
providing anlple space to companies in lniddle range to indulge in
nOll-compliance and malpractices by keeping them out of the
plIl'view of sections in question which definitely would not have
h,'('ll intention of the LawMakers.
J. Certification of Annual Return (Section 92 of CA, 2013):- As
pel' section 92 of the Companies Act, 2013 read with relevant
niles, all Listed companies and companies having paid up capital
of Rs. lOCI' or more or Turnover ofRs. 50 Cr or more shall get its
Allllual Return Certified by a Company Secretary in Practice. The
c',:;-: ification of Annual Return of Listed Company was already

5. thcre in the old Act. Apart frOln that we had 383A which provide
ror Secretarial Compliance Report for companies having paid up
clpital of Rs. 10 Lakhs or more but less than 5 cr which actually is
dispensed with under new Act and accordingly more than 93
percent of cOlnpanies have been kept outside the purview of any
iIHlependent review, monitoring, audit or certification relati ng to
cn"porate compliance by governance professional like Company
Secretaries.
Basee! Oil above Facts we wish to have Ministry of Law and Justice to
lo()k j Jl Iu rules of Companies Act 2013 and please do the needful as
l~)i:o·', ;ll1d requested to safeguard the interest of the stakeholder~; and
:);SII prnvide the .Justice to the Company Secretary Community.
i , The Authorised Capital Limit should be reduced to 5 Cr and
FrivClle companies must be included in the ambit o.fSection 203
2, The Secretarial Audit Must be made applicable to those
cOIJ1ponieswhich are at least subject to Internal Audit
;'t' lhe IVlembers as per the attached names have made our submission
to yOll with high hopes. We understand and appreciate that you are
eq u:llly concerned on the matter and as a well wisher of the Profession
()r Company Secretaries we are very hopeful that you will meet ollr just
demands explained to you in person as well. To strengthen our case on

6. Undersigned are the members and Students of leSI and filled an online
form for Representation :-
Af:;:ViNO GUPTA Ujjwal Sharma Suresh S Anandham AMIT SHARMA Sumit Bhojwani Jasneet
Kau f3havna Jangid Saroj Thakur Srinivas Kota S NARASAPPA PEEYUSH SETHIABharat
O,wan saumayo jyoti seal Yashpal Bansal Shrutika Pramod Kumar Sabot Sejal
Vakhc1rla Raghavendra AMIT GATTANI khushbu Vimmi sachdeva Nayan Misra Vivek Kumar
Srarma JNAGARAJA RAO nisha agarwal GOPESH SAHU ARVIND Ankit Singh biswa ranjan
rnishra Ankit Jain Asha Damani Priyanka Jain Ranjith Kumar Shetty AJAY KUMAR MOHANTY Pallavi
KhurClna Pragya Singh nitin kumar Arun Kumar Singh Kanika Sukhija RAMESH KUMAR SINGH Kusurn
,J f,j IKII r,astogi PRajesh CS Bal Krishna DwivediSaurav Roy Ajeet Kumar Sudhanshu Singhal anjali
Veld;),' I:;:al,lCandhi Arnbika V S Shikha Mehra Nilofer Hasnaiin RICHA SHARMA Siva Ram Sournya
,""c;' f"i~;:Jnka jaln RashmiMidhunkumar E.M POOJA KANSAL Sameer Amit kumar shrivastava CS
M,M i T!I GU F)TA Manjunath Hegde sumit kochar Anita Bisht Prashant Robin Jain Prmaodkumar
LaddaChandra Bhushan Mishra Neha adlakha suraj Gaikwad NIKITA SHARMA Mohit Mahana SUJATA
SARKAR arti rawat shilpa R RONAK D DOSHI Anuj Ashpk Parvinder Arora CS Ashwin Patel sandeep
agarwal Deepali Balpande LATIKA CHAWLA Bala Ji Garima Gogia Suman Jee Isha Tayal Rekha
Singh Archana Pandey Avinash Goyal Vimal Sharmayashika Raghbendra kumar jha Paawan
Bj'arQav3 Meenakshi Srivastava YASH NIGAM pooja garg Mehul Thakkar ABHIJIT Nitanshu
/;anc!:ll Shral)anti Mandollsha Bajaj Carishma Patney Yogesh Somaiya Paramjit Manoj Kumar
M,sl,ra Nirav Patel devinder singh thakur Bhumika Renuka Garg Ashwini Shah Megha Aggarwal 0 M
i3asha priyanka gangwarManish Wahal CS Siva Ram ok prakriti wason SHALINI CHAWLA Himanshu
Par,chal r:;: r:;:amela preeti mantri Raju Balodi Saurabh Arora NIKITA SRIVASTAVA Deepak
RamlriDEEPAK KUMAR sonali varshney SHIVANI SHARMA swati garg Srinivasan JITESH
GROiEI:;: Paarth Diwan VIMAL DATTANI KAMAL DEEP TANDON Manish Singh Payal MANISH
SHUKL! PRIYANKA LOHIA Neha Mridul Gupta Disha Shah Amarendra Jena Shikha Bony Rai Ritu
AeJDarwal CS Rakhi Dasgupta Lalit Chaturvedi cs sandeep singh Deepak AroraAwadhesh
Kumar BHASKAR RAKSHIT Manoj Kumar Yadav KRITHIKA SHARMA Ravi Gupta divya Ankit Kumar
,Jifldal ;Il]ali Bindal Jyotsna Nagar RAKESH KUMAR GUPTA sakshi agarwal Parag Derekar cs PL
oabu navya pandey Ritika Tandon chetan VIKRAM JHAWAR CS Manoj Kumar Mishra SHALINI
i3AGHEL MANISH JAIN Keyur Ghelani Saurabh MishraSaurav Sharma Lovneet Handa prachi
Srivastava Shlvansh Tiwari Iti Goyal komal Bhadra Sen Chandrashekhar Hegde Nirmal Singh
Btlatl Manlsh Agarwal Ashutosh Sharma ANSHITA AGARWAL tanu verma devu RANJIT Mayank
Joshi Molld Zafar soumya gupta Shilpi gupta SHRADDHA SINGHI ADITI RENUKADAS
JOSHI Mamta superna tare punit jainSHANKAR KULAL Harsha M S Amit Parakh NEWTON KUMAR
DHAR DURGA BANSAL Sunil Jain
Contact nos
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9686177553 8431109122 9416977590997103304098315747758087281240 9819141753 9415157726
844764290~J9925066110 9007589595 9471576030 9871552114 9950933137 9999855026 9717728969
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09821043161 8527236367995360585598392047309910164867 9008255336 7838199479,971701014
5737696356680978647499652029081 9811331836999959624598716027169873779780927740150

7. 14
69582088743957901411798386001979744825690 9910032554 9620039398 9435086282 095553378
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8437814 ok 9415428005997173119978384103199868111174 8375037357 9033009739 9701702035
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9873280674962849130095615099949591129072 09595271145 9810028097 8130545205 981060254
5 9525804613 9711300598 +919890496452 9872634328 9450125587 75050540239654226587 989780
7987993088398099536019280971614818999537725209999721291
Membership no
2210 ACS-22537 FCS6909 33758 A 30375 221289940/11/2011 3334028069 A31787 F7542 FCS
6656 ACS34206 A34862 28737 28739 F6709 221229206/08/201122784 220822705/02/2010 17493 waiti
n9 /27749 A34777 26004 ACS33963 A34775 24501 A34139 30994 A22715 309972450614381 30489
7: :<l250 15 22074260610812009 A31927 28240 A34986 320794551/02/2012 27462 28646 A34249 34927
;),I:',:() FCS 6628 A33280 ACS-28621 2863531211 A34852 ACS
1 ',263 28021 28025 A28489 A26243 31464 30766 30860 A23433 student 28164 A23183 0000000 2816
634469 A29232 F-7284 31807 514326 10056 A30898A35355 ACS-
31346 31517 31338 30554 A22045 A31871 A29052 339862506725578 A 15585 F7326 FCS
7100 31440 33060 A34485 26444 ACS33400 26305 A-31550 220567906 31635 A 16121 31836 ACS
24329 A34119 21073 FCS
6704 32152 2770623712 A32979 31369 A30311 A32487 27131 ok 24463 A26685A34307 ACS
33591 221395001/02/2012 A-27842 34282 FCS 5961 A- 23858 student 21977 FCS-6742 A32075 A-
30159 ACS 24672 A33947 A35193 A-25870 31186A33521 25085324463897221119594/05/2011 ACS-
3 i 229221290905/11/2011 26674 A28274 A35182 A26816 5051 26270 awaited A28664 A22060 A35271
/26265ACS 31051 A26268 22722 26136221050279/02/2011 4006 A34594 ACS-
18892612325513 A31314 FCS - 5055 a23073 FCS 6077 NA-
Sluclenl 26224220727354/08/2009 A26587 A34831 221092842/0212011 25373 A-
27808 2,~490 A31803 29744 34148 A34401 A29103 ACS 32018 FCS 676526631 ACS
25208 29184A23883 A35046 A33952 A23362 25115 31252 A31441 A24370 220977992/08/201032807
A33555 ACS-24837 31259 9711300598 5469 00000 33530 22431 28762
Please append scanned signature or mention sd-
bajajr66@gmail.com mandavi Bajajr66@gmail.com sd- Shraddha Singhi sd- ok aman nijhawan Sd/---
SO/- krithika Sd/- Lalit Chaturvedi * CS Shrabanti sdl sd- sd. NHsd/-
csslnghsandeep@gmail.com khushbu daga bajajr66@gmail.com SID CHITTARANJAN
JENA S jyoti arun kumae sriastava Priyanka Jain signed chetna SOl SO- NEWTON KR
OHAR baJajr66@gmail.com PL yes suraj Sdl Sd- Anjali Bindal bajajr66@gmail.om SO/- AMIT
SEHGAL sd_ soumya SID A.SINHA jdhffjhsd .. Rakhi Oasguptamukesh sk Priyanka SO/- PRIYANKA
L.JHI; sd-arun sd Thanks Sd/- mansi Sd SO/- BHASKAR RAKSHIT SO/- GOPESH
SIHU SHAUNI Amit Avinash Goyal SO s/dpayal123456 gayatri LENIN

8. all these points we are attaching this representation to once again stress
Oil ('[II' p;lin and anguish over the recently notified rules.
' h;lVC very high hopes from the young and dynamic leader like you
;;:1,1 le ;lre sure that you will not let us down.
i!J;lill illg you in anticipation.
Y 0 1I rs F'a it h Full y,
c;~V'1~V g~~w6
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! .;.~; ul' lLll11eSenclosed. Contributed online by E form.