Indian Corporate Law Service
 |
|
| Service Overview | |
|---|---|
| Abbreviation | ICLS |
| Formed | 1967 ( Inducted as a Generalist Organised Civil Services in 2008) |
| Headquarters | Shastri Bhawan, New Delhi |
| Country |
 India
|
| Training | Indian Institute of Corporate Affairs, Manesar, Haryana |
| Controlling Authority | Ministry of Corporate Affairs, Government of India |
| Legal Personality | Governmental Federal law enforcement |
| General Nature | Regulator of Corporate Sector in India |
| Cadre Size | 291 |
| Head of the Civil Services | |
| Cabinet Secretary | Current: Pradeep Kumar Sinha |
The Indian Corporate Law Service (Hindi: भारतीय कॉरपोरेट लॉ सेवा, Bhartiya Corporate Law Seva) abbreviated as ICLS is the regulatory service for corporate sector in India.It is one of the Central Civil Services (Group A) and it functions under the Ministry of Corporate Affairs, Government of India. The service is entrusted with the responsibility of the implementation of Companies Act,1956, Companies Act, 2013 and The Limited liability Partnership Act, 2008. The overall mandate for the service is empower and regulate the corporate sector for this country and to protect the rights of the investors, especially small investors.
Created in the year 1967 as a technical service to administer Companies Act, 2013 as Company Law Service was renamed as Indian Company Law Service in the year 2002. The service functioned under Ministry of Finance ( Department of Company Affairs ) till 2004, after which an independent ministry by the name Ministry of Corporate Affairs was created to administer the Corporate Sector in India. The service was renamed as Indian Corporate Law Service in 2008 and was brought into the fold of Civil Services Examination as an Organized Generalist Service so as to attract the best of the talent with a view to meet the challenges of the burgeoning Indian Industry and to reflect the changes the Indian corporate sector has undergone in the last couple of decades. The first batch of Officers recruited through Civil Services Examination were inducted in the year 2009.
There are two streams of recruitment to the Indian Corporate Law Service - Direct Recruits and Promoted Officers. Since 2009, direct recruitment to Indian Corporate Law Service (ICLS) is through Civil Services Examination conducted by UPSC. Members belonging to Group B Service employed with the Ministry are gradually promoted over several years of service. The current ratio of two streams is kept at 3:2.The ICLS Academy, located at Manesar, Haryana Campus of the Indian Institute of Corporate Affairs (IICA), provide training to Probationary Officers (POs) in subjects like Finance, Accounting, Management, Economics and Law. In addition to the classroom training the POs are also provided hands on training in various offices across India.
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