Indian Corporate Law Service

Indian Corporate Law Service For Scaling Up Your Business

Scaling up your business in India is not an easy task; you always need a team to go for the exercise of change management. While going for this exercise of change management, they often forget about one aspect of the change, which is the Indian corporate law service. When a business scales up, it makes an entry in the corporate sector, which is very formal and strict in nature. Most of the corporate law service providers know the fact that it is a different ball-game where the best quality of skills is needed.

The History of Indian Corporate Law Service (ICLS)

Indian Corporate Law Service (ICLS) had been established in the year 1967 for effectively implementing and administrating the Companies’ Act. Initially, this service has been named as the Company-Law-Service. In the year 2002, this service was started to be names as the Indian-Company-Law-Service. Later on, it was once again renamed as ICLS, i.e. the Indian Corporate Law Service, and this happened in the year 2008 when the recruitment for ICLS was brought under UPSC CSE’s ambit. Until the year 2004, this service used to function under the Finance Ministry; but since that time, it has been functioning under the Corporate Affairs Ministry.

Key Functions of an ICLS Officer

  • One of the main functions of an ICLS officer is the administration of the Companies’ Act, the LLP Act and also such other related acts.
  • As RoC, or the Registrar of Companies, an ICLS officer registers the companies as well as the partnerships that are floated. It is his/her duty of ensuring all the companies to file the annual returns as well as balance sheets, and all other required and mandatory documents. The Registrar of Companies can even execute an investigation as well as initiate the prosecution against any criminal and/or civil offences related to this.
  • As OL or Official Liquidator, an ICLS officer is always responsible for liquidating the companies as per the orders from the court. He/she is responsible for handling the assets of companies, recover their debt (s), sell the assets of the companies through public auctions, claims of settle creditors, etc.
  • As RD or Regional Director, an ICLS officer is the head of the Regional Directorate. The Regional Director happens to be the most senior ICLS officer in his/her region, there being total 7 RDs or Regional Directorates in the country. An RD or a Regional Director supervises the work of the Registrars of Companies (RoCs) and the Official Liquidators (OLs).

A Place Full of Bad Fishes Surviving in the Pond of Good Faith

Most of the Indian corporate law service providers are aware of the fact that corporate corridors are like a pond of good faith where big deals take place within no time and players abide by an unwritten code of conduct. Check it out with corporate law service providers, and ask them about a synoptic view of the events. Indian corporate law service providers will give you this idea that a number of corporate frauds are minimal when we compare them with the transactions that are taking place. You can avail the services of the best corporate law service providers, KNOWLEDGENTIA CONSULTANTS! You can avail our services because the stakes are bigger this time and the defaulters can plan a crime or deceit at a much bigger level.

The Concept of Quantum of Punishment

The readings made by the Indian corporate law service gives this idea that most of the corporate frauds follow a simple modus operandi where they judge the quantum of punishment in comparison with the fruits of the sin that they are going to earn from the endeavor. This is why, it is important for any company to take the services of a sensible corporate law service provider at an early stage. We should never forget the fact that the wheel of fortune often passes through the slump of the misfortune, sometimes the strategies drawn by an Indian corporate law service can save you during this slump by safeguarding your interests in a world, which is far more sophisticated and values the finest of the detailing while going for a paperwork. The modus operands associated with the "quantum of the punishment" commands a dictum where a culprit goes for a crime because he knows that even in the worst case, the punishment given to him will be negligible in comparison with the booty.

The Role of Corporate Law Service in the Domain of Big-Risk-Big-Gain Is Crucial!

The corporate sector gives us a place to grow very rapidly. In the current trade practices, we have seen the emergence of many start-ups into the big league of the business within no time. However, in order to sustain in this environment, one should never forget the simple fact that we cannot undermine the presence of big risk in this equation as well. A corporate law service can play a crucial role in this domain of big risk where it can safeguard you from fishy deals. We, at KNOWLEDGENTIA, have this wisdom to serve your interests on this slippery surface, because we know all the loopholes of the system that can be exploited by the fraudulent people.

Aparna Jain
Lawyer & Founding Partner
Harinder N
Lawyer & Founding Partner
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