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Proposal for Organising Investor Awareness Programme



Proposal for Organising Investor Awareness Programme
The Ministry of Corporate Affairs organizes Investors Awareness Programmes (IAPs) in association with the three Professional Institutes, namely Institute of Chartered Accountants of India, Institute of Company Secretaries of India, Institute of Cost Accountants of India and Common Service Centres (CSC) set up under Department of Electronics and Information Technology (DeitY), both in urban and rural areas, with the objective of creating awareness amongst the investors facilitating informed investment decisions. Special emphasis is laid on the education about fraudulent schemes.  These programmes are conducted in Hindi, English and other vernacular/local languages, depending upon the target audience.


IAPs are specifically organized for rural areas through CSC of DeitY.  During the last two years (2014-15 and 2015-16), 572 such programmes were organised in rural areas. CSCs have been conceptualized as Information Communication Technology enabled, front end service delivery points at the village level by DeitY for delivery of Government, Social and Private Sector Services, and therefore, their services have been utilized under IAPs to educate the population at village level/rural areas regarding, inter-alia functioning of primary and secondary capital markets in order to enhance investor awareness.

The details of the amount allocated and utilized under Investor Awareness and Protection Fund (IEPF) during each of the last three years and the current year is as under:

Year
Funds allocated (Rs.)
Funds utilized (Rs.)
2013-14
4,50,00,000
4,38,10,000
2014-15
3,00,00,000
2,84,24,000
2015-16
4,50,00,000
4,29,93,000 (estimated)
2016-17
1,50,00,000
--Nil---

This was stated by Shri Arun Jaitley, Minister of Corporate Affairs in written reply to a question in the Rajya Sabha yesterday.

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Ease of Doing Business
The Ministry of Corporate Affairs has taken a number of measures to improve doing business environment in the Country. To facilitate ease of doing business, the Ministry of Corporate Affairs has introduced an integrated INC-29 form for incorporation of companies, omitted requirement for minimum paid up capital, made mandatory common seal for companies optional and done away with filing for commencement of business. Other departments have also taken steps with emphasis on simplification of existing rules and procedures and use of information technology for ease of doing business and to make governance more effective and efficient.

The Ministry of Corporate Affairs has established a Central Registration Centre (CRC) under Section 396 of the Companies Act, 2013 (Act) having jurisdiction all over India for speedier processing of incorporation related e-forms in 1 to 2 days. CRC Phase-1 for approval of Name availability e-from had started operations on 26.01.2016. CRC Phase-II for processing incorporation forms for companies is undergoing stabilization and optimization.

This was stated by Shri Arun Jaitley, Minister of Corporate Affairs in written reply to a question in the Rajya Sabha yesterday. 

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Appointment of Nominee Directors on PSU Boards
The Boards of Central Public Sector Enterprises (CPSEs) comprises of functional, government and non-official Directors. The composition of Boards includes the Government Directors who are nominated from the concerned Administrative Ministry or other concerned Government agencies/Ministries/State Governments. It has also been provided that the choice of the Nominee Director would vest with the administrative Ministry.

Section 52 (2) of the Companies Act, 2013 requires that appointment of directors shall be made in the general meeting and is applicable to all the companies. Further, Section 178 (2), (3) and (4) of the Companies Act, 2013 provides for the role of Nomination and Remuneration Committee in identifying persons who are qualified to become directors in accordance with laid down criteria, recommending to the Board appointment of Directors, formulating the criteria for determining qualifications, positive attributes and independence of a Director. However, these provisions are not applicable to Government companies as prescribed vide Ministry of Corporate Affairs notification dated 5th June, 2015.

A non-executive director including a nominee director shall be held liable only in respect of such acts of omission or commission by a company which had occurred with his knowledge, attributable through Board Processes, and with his consent or connivance or where he had not acted diligently.

This was stated by Shri Arun Jaitley, Minister of Corporate Affairs in written reply to a question in the Rajya Sabha yesterday. 

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Vacancies in Institutions Serious Fraud Investigation Office (SFIO) as well as Competition Commission of India (CCI)

A Statement showing the position of vacant posts in respect of institutions under Ministry of Corporate Affairs, category-wise and year-wise for the last 3 years i.e. 2013-14, 2014-15 and 2015-16 is given in the Annexure.

The various modes of making recruitment to these posts in respect of institutions under Ministry of Corporate Affairs are given in their Recruitment Rules (RRs). Therefore, there is no proposal for filling vacancies to these posts through National Level Online Examination.

Apart from efforts to filling vacant posts in these institutions as per RRs, the following additional steps are taken to fill up the vacant posts in the institutions of the Ministry.

(i)                 Relaxation is given in RRs for a wider choice for selection of suitable officials, whenever deemed necessary.

(ii)               Appointment of consultants and staff on outsourced basis is done.

(iii)             Deploying officers on loan basis from the Ministry.

This was stated by Shri Arun Jaitley, Minister of Corporate Affairs in written reply to a question in the Rajya Sabha yesterday.



ANNEXURE

I.                   SERIOUS FRAUD INVESTIGATION OFFICE:

S.
NO.
POSTS
SANCTIONED POSTS
Vacancy position as on 31st March of
the Financial Year
2013-14
2014-15
2015-16
1.
Director
1
-
-
-
2.
Additional Director/
Joint Director
19*
09
15
11
3.
Deputy Director
8
03
05
03
4.
PPS
1
-
-
-
5.
Senior Assistant Director
29
13
11
12
6.
Senior Prosecutor
5
05
05
05
7.
Assistant Director
30
08
07
08
8.
Prosecutor
5
04
04
03
9.
Office Superintendent
2
02
02
02
10.
Private Secretary
9
07
08
08
11.
Assistant
6
05
05
05
12.
Stenographer Grade-I
16
15
15
15
Total
131
71
77
72

*One post of Additional Director (Cost) was encadered on 27.02.2014.

II.        COMPETITION COMMISSION OF INDIA:

S.
NO.
POSTS
SANCTIONED POSTS
Vacancy position as on 31st March of the Financial Year
2013-14
2014-15
2015-16
COMPETITION COMMISSION OF INDIA
1.
Secretary
01
-
-
-
2.
Advisor (FA)
02
02
-
01
3.
Advisor (Law)
03
-
-
01
4.
Advisor (Eco)
03

-
-
5.
Director(Law)
05
04
03
03
6.
Director (Eco)
05
03
01
02
7.
Director(FA)
02
01
01
01
8.
Joint Director (Law)
10
05
07
08
9.
Joint Director (Eco)
10
08
09
08
10.
Joint Director (FA)
04
02
02
03
11.
Joint Director (IT)
01
01
01
01
12.
Joint Director (F&A)
01
-
-
-
13.
Deputy Director (Law)
18
06
04
05
14.
Deputy Director (Eco)
18
08
05
04
15.
Deputy Director (FA)
10
04
04
04
16.
Deputy Director (CS)
05
03
03
-
17.
Deputy Director (F&A)
01
01
-
-
18.
Deputy Director (IT)
01
-
-
-
19.
Assistant Director (F&A)
02
-
01
-
20.
Assistant Director (CS)
14
01
-
-
21.
Assistant Director (LS)
02
-
-
01
22.
Assistant Director (IT)
03
-
-
-
23.
Senior Principal Private Secretary
01
-
-
-
24.
Principal Private Secretary
06
-
02
-
25.
Private Secretary
03
02
02
01
26.
Office Manager (CS)
20
12
-
06
27.
Office Manager (F&A)
04
02
01
01
28.
Office Manager (LS)
01
01
01
-
OFFICE OF DIRECTOR GENERAL COMPETITION COMMISSION OF INDIA
29.
Director General
01
-
-
-
30.
Additional Director General
04
03
01
-
31.
Joint Director General
08
05
04
03
32.
Deputy Director General
20
18
16
15
33.
Deputy Director General (CS)
01
-
-
01
34.
Assistant Director General (CS)
03
-
-
03
35.
Office Manager (CS)
04
-
-
-
Total
197
92
68
72

III.       COMPETITION APPELLATE TRIBUNAL:

S.
NO.
POSTS
SANCTIONED STRENGTH
Vacancy position as on 31st March of the Financial Year
2013-14
2014-15
2015-16
1.
Registrar
1
-
-
-
2.
Deputy Registrar
1
1
1
1
3.
Senior Principal Private Secretary
1
1
1
1
4.
Principal Private Secretary
2
1
1
1
5.
Account Officer
1
1
1
1
6.
Private Secretary
1
1
1
1
7.
Section Officer
1
1
1
1
8.
Court Master
1
1
1
1
9.
Senior Hindi Translator
1
1
1
1
10.
Personal Assistant
4
4
3
3
11.
Assistant
3
1
-
-
12.
Account Assistant
1
1
1
1
13.
Steno. Gr. III
2
2
2
1
14.
Staff Car Driver
1
1
1
2
15.
Multi Tasking Staff (M.T.S)
4
4
4
4
Total
25
21
19
19




IV.       INDIAN INSTITUTE OF CORPORATE AFFAIRS:

S.
NO.
POSTS
SANCTIONED STRENGTH
Vacancy position as on 31st March of the Financial Year
2013-14
2014-15
2015-16
1.
Director General & Chief Executive Officer
1
-
-
-
2.
Director
1
-
-
-
3.
Joint Director
2
1
1
1
4.
Deputy Director
3
3
3
3
5.
Professor
5
4
4
4
6.
Associate Professor
5
4
3
2
7.
Private Secretary
1
1
1
1
8.
Personal Assistant
1
1
1
1
9.
Assistant Professor
5
5
1
1
10.
Head of Centre
6
3
2
1
11.
Chief Information Officer
1
1
1
1
12.
Librarian
1
-
-
-
13.
System Administrator
1
-
-
-
14.
Research Analyst
1
1
1
-
15.
Chief Administrative Officer
1
1
1
1
16.
Chief Finance Officer
1
1
1
1
17.
Manager Human Resources
1
-
-
-
18.
Admn. Officer
3
1
2
2
19.
Finance Officer
3
1
1
1
20.
Assistant Manager
2
2
2
2
21.
Assistant
6
6
6
6
Total
51
36
31
28

V.        COMPANY LAW BOARD:

S.
NO.
POSTS
SANCTIONED STRENGTH
Vacancy position as on 31st March of the Financial Year
2013-14
2014-15
2015-16
1.
Secretary
1
-
-
-
2.
Under Secretary
1
-
-
-
3.
Bench Officer
8
-
-
-
4.
Senior Private Secretary
9
7
8
8
5.
Section Officer
1
1
-
-
6.
S.T.A.
1
1
1
1
7.
Senior Legal Assistant
4
4
4
4
8.
Personal Assistant
2
1
1
1
9.
Assistant
1
-
-
-
10.
Junior Legal Assistant
3
3
3
3
11.
Upper Division Clerk
1
-
-
-
12.
Steno Grade ‘D’
1
1
1
1
13.
Lower Division Clerk
12
6
7
6
14.
Staff Car Driver
6
-
-
-
15.
Multi Tasking Staff (M.T.S)
15
3
5
6
Total
66
27
30
30


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