ICSI FINAL – NEW SYLLABUS

Secretarial Practice relating to Economic Laws & Drafting & Conveyancing

ICSI FINAL – December 2005

Note – Questions relating to drafting and conveyancing are not given as these are not covered under ‘Economic Laws’

Part – A

Answer Question No. 1 which is compulsory and any two of the rest from this part.

Q 1 (a) Ratan purchased books from Sudhir Publishers wherein a sticker with enhanced price was fixed on the books. Ratan filed a complaint before the Consumer Disputes Redressal Forum. Whether fixing of stickers of enhanced price on books amount to an unfair trade practice? Will Ratan be able to get refund of excess price charged? Comment in the light of decided case law (b) Curewell Surgical Gloves Pvt. Ltd. borrowed money from a public financial institution for importing a plant for manufacture of surgical gloves. After one year, the government introduced a legislation for payment of interest tax, which became an additional liability for the financial institution. According to their policy, they charged this extra interest tax on Curewell Surgical Gloves Pvt. Ltd. Is this an unfair trade practice? Explain. (c) Taja Beverages Ltd. was registered as a medium scale industry. It received cash subsidy from the State government. After two years, due to the change in the definition of small scale unit under the Industries (Development and Regulation) Act, 1951, the company had become SSI unit. The State government demanded back the subsidy granted to the company on the ground that it was no more a medium scale unit. Advise whether Taja Beverages Ltd. should refund the subsidy in the light of decided case law. (d) What are the incentives available for setting-up industries in backward districts? (5 x 4 = 20 marks)

Q 2 (a) What are the restrictions, if any, under the Foreign Exchange Management Act, 1999 – (i) for making remittance abroad out of the profits of business set-up in India by persons resident outside India; and (ii) for making remittances of surplus remaining on completion of a project in India by a person resident outside India? (b) Discuss briefly the procedure for obtaining environmental clearance under the Environmental Impact Assessment Notification, 1994 (8+7 = 15 marks).

Q 3 (a) What procedure is specified under the Environment (Protection) Act, 1986 for taking samples of air, water, soil or other substances? (b) State the procedure to be following for making a complaint before the Consumer Disputes Redressal Forum in case of dispute relating to defect in goods. (c) Mention in brief the reasons for proposed repeal of the Monopolies and Restrictive Trade Practices Act, 1959 and its replacement with Competition Act, 2002 (5 x 3 = 15 marks).

Q 4 (a) Describe the government guidelines for private section participation in ports (b) Discuss the new telecom policy along with its framework and private sector participation in value added services. (c) Explain in brief the provisions of the Foreign Exchange Management Act, 1999 relating to export of goods (5 x 3 = 15 marks).

Part B – Drafting and Conveyancing – 50 marks)

Q 5(a) You, as an executive of Green Co. Ltd. have been appointed as arbitrator for resolving a dispute on inter-company transfer of goods for sale between Blue Co. P Ltd. and Yellow Co. P Ltd., subsidiaries of Green Co. Ltd. Assuming the facts of dispute, draft an arbitration award after completion of arbitration proceedings (6 marks).

June 2005

SECRETARIAL PRACTICE RELATING TO ECONOMIC LAWS &
DRAFTING & CONVEYANCING

Note – Questions relating to drafting and conveyancing are not given
as these are not covered under ‘Economic Laws’

Part A

Answer Q No. 1 which is compulsory and any two of the rest from this part.

Q 1 (a) The consumer forum was satisfied that the complainant had suffered loss and mental agony in a case involving non-allotment of a flat in a housing scheme of a State Housing Development Authority. It awarded interest @ 18% on the amount deposited by the complainant. The complainant filed appeal in the appellate forum claiming that relief awarded is insufficient. Decided with reference to case law. (b) The public issue floated by a company in 1995 did not receive 90% subscription within 30 days and the underwriters also did not take up their commitment. As a result, all money had to be repaid. The company amongst others filed 208 applications for compensation against underwriters before the MRTP Commission in the year 2000 claiming for losses and damages. The MRTP Commission dismissed the applications stating that the same are not filed within 3 years and are time barred. Company filed a writ stating that the Act does not provide for the time bar. Decide the case with reference to recent Supreme Court judgement. (c) A State Cooperative Employees Pension Board inordinately delayed the grant of order of pension to one of its employees and he filed a case of deficiency in service under the Consumer Protection Act, 1986 under relevant jurisdiction of consumer forum. Decide whether this is a service and the employee is a consumer or not? (d) A State Government introduced irrigation programme for lands. A land owner filed an application before the MRTP Commission treating the action of the State as restrictive trade practice since it affects his agricultural crop. Decide whether the MRTP Commission has jurisdiction in this matter or not with the help of decided case (5x 4 = 20 marks)

Q 2 (a) Explain the meeting of the term ‘adjudicating authority’ under the Foreign Exchange Management Act, 1999. What are the powers available with the adjudicating authority to pass orders imposing penalty and enforce the same in relation to violation of any provision of the said Act. (b) Distinguish between ‘non-resident (external)’ account and ‘foreign currency (non-resident)’ account. (c) Enumerate the various benefits allowed to Special Economic Zone under the EXIM Policy, 2002-2007, as amended ( 5 x 3 = 15 marks)

Q 3 (a) Enumerate the functions and responsibilities of the Telecom Regulatory Authority of India (TRAI). (b) State briefly the benefits available to 100% EOUs and the procedure to register them with the Development Commissioner/Board of Approval (10+5 = 15 marks)

Q 4 (a) Explain the concept of ‘environmental audit’. (b) Explain briefly any two of the following with reference to the Public Liability Insurance Act, 1991: (i) Accident (ii) Hazardous substance (iii) Owner (iv) Compulsory insurance (7+8 = 15 marks).

Part B

Drafting and Conveyancing – (50 marks)

June 2004

SECRETARIAL PRACTICE RELATING TO ECONOMIC LAWS &
DRAFTING & CONVEYANCING

Note – Questions relating to drafting and conveyancing are not given
as these are not covered under ‘Economic Laws’

Part A

Answer Q No. 1 which is compulsory and any two of the rest from this part.

Q 1 (a) Can a complainant be directed to approach civil court if there is delay in disposal of complaint by the consumer forums? Comment in the light of decided case (b) Not typed as it relates to MRTP Act (c) A cement manufacturing company registered under the Industries (Development and Regulation) Act, 1951 was required to pay levy under cement control order to Government @ Rs. 9 per ton on production of non-levy cement. This levy was later withdrawn. The association of cement manufacturers claimed refund of the same stating that the nature of levy was without authorization of parent law under section 18G of the said Act and claimed that as unjust enrichment. Decide the case (d) Write a note to your chief executive officer (CEO) on formalities to be complied with for entering into foreign technology agreement [5 x 4 = 20 marks].

Q 2 (a) Briefly state the heads under which compensation for damages may be claimed under the National Environment Tribunal Act, 1995. (b) Briefly describe the procedure for holding enquiry by the adjudicating authorities in respect of contravention under the Foreign Exchange Management Act, 1999 and also the various stages of appeals as provided under the Foreign Exchange Management (Adjudication Proceedings and Appeal) Rules, 2000. [7+8 = 15 marks]

Q 4 (a) Write notes on the following (i) Public liability insurance (ii) Major Port Trusts Act, 1963 (as amended) (b) Prepare a detailed note on the procedures to be followed for the export of goods and services out of India [8+7 = 15 marks].

Part B

Answer  Q No. 5 which is compulsory and any two of the rest from this part

Q 5 (a) “ The order of Chief Justice under section 11 of the Arbitration and Conciliation Act, 1996 nominating an arbitral tribunal is not an adjudicatory order and that cannot properly be made the subject matter of a petition for special leave to appeal under Article 136” Comment with reference to decided case law. [6 marks]

Q 6 (a) (i) Distinguish ‘pledge’, ‘mortgage’ and ‘hypothecation’  (ii) Draft memorandum of mortgage by ‘deposit of title deeds’ (3+3 = 6 marks) (b) Draft a specimen ‘arbitration clause.’ (4 marks)