Indian Corporate Law Service (ICLS)

 One of the Group "A" services alternatives open to applicants who have passed the UPSC Civil Service Examination is the Indian Corporate Law Service (ICLS). Only in 2009 did the UPSC CSE open up access to this facility. Implementing the Companies Act of 1956, the Companies Act of 2013, and the Limited Liability Partnership (LLP Act) of 2008 is the main duty of this Group "A" service. The article discusses the duties, compensation, training, hierarchy, and Indian Corporate Law Service (ICLS).

  Duties (ICLS):-

1. To oversee the LLP Act, the Companies Act, and a few other relevant acts.
2. The officers record the launched corporations and partnerships in their capacity as Registrar of corporations (RoC). It is their responsibility to make sure that all businesses file their balance sheets, yearly reports, and other required paperwork. In this context, the RoC has the authority to investigate and bring charges for both criminal and civil offenses.
3. The officers' job as Official Liquidators (OLs) is to liquidate the enterprises in accordance with court orders. They are in charge of seizing possession of the business's assets, collecting debts, selling those assets at public auction, resolving creditor disputes, etc..
4. The officers lead the Regional Directorates in their capacity as Regional Directors (RDs). There are seven Regional Directorates in India, and the RD is the most senior ICLS officer in that region. The OLs and RoCs are under the direction of the RDs.

Salary Structure (ICLS):-

Grade	Designations	Pay Scale
Junior Time Scale	1. Registrar of Companies	15600 – 39100 + Grade Pay 5400
	2. Official Liquidator
	3. Registrar of Companies cum Official Liquidator
	4. Assistant Registrar of Companies
	5. Assistant Official Liquidator
	6. Assistant Director
	7. Bench Officer – Company Law Board
Senior Time Scale	1. Registrar of Companies	15600 – 39100 + Grade Pay 6600
	2. Official Liquidator
	3. Deputy Registrar of Companies
	4. Deputy Official Liquidator
	5. Deputy Director
Junior Administrative Grade	1. Registrar of Companies	15600 – 39100 + Grade Pay 7600
	2. Official Liquidator
	3. Joint Director
	4. Secretary, Company Law Board
Senior Administrative Grade	1. Regional Director	37400 – 67000 + Grade Pay 10000
	2. Director of Inspection and Investigation
	3. Director
Higher Administrative Grade	Director-General of Corporate Affairs (DGCA)	67000 – 79000

 

Training of Probationary Officers (ICLS)-

For ten months, the ICLS officials receive their training at the ICLS Academy, which is housed within the Indian Institute of Corporate Affairs in Manesar, Haryana. Probationary Officers (POs) receive an introduction to the provisions of the Companies Act, the Limited Liability Partnership Act (LLP Act), and other related acts during this induction course. They learn about Indian Penal Codes, bookkeeping and accounting, as well as economics, law, and management principles.