Indian Corporate Law Service, IClS Salary, Eligibility

The Indian Corporate Law Service (ICLS) is a ‘Group A’ service that is offered to candidates who qualify the UPSC Civil Services Examination. This service was introduced under the UPSC CSE in 2009 and the role and responsibilities includes the implementation of Companies Act, 2013 and The Limited Liability Partnership, 2008 (LLP). In this article, we are going to discuss the ICLS service, role and responsibilities, salary, training and functions. 

Indian Corporate Law Service History 

Established in 1967, ICLS was initially named as Company Law Service and was introduced for the implementation and administration of Companies Act. While the service followed an independent recruitment process till 2007, the service was put under the UPSC CSE selection process in 2008. Until 2004 the service was working under the Ministry of Finance, and was later brought under the functioning of Ministry of Corporate Affairs. 

ICLS Service Roles and Responsibilities

Following are the roles and responsibilities of Indian Corporate Law Service:

• Administration of Key Acts: The officers are tasked with administering the Companies Act, the LLP Act, and related legislations.
• Role as Registrar of Companies (RoC):
  The RoC is responsible for registering companies and partnerships, ensuring compliance with annual filings like returns and balance sheets. Additionally, the RoC holds the authority to investigate irregularities and initiate prosecutions for criminal and civil offenses.
• Role as Official Liquidators (OL):
  Acting under court orders, OLs manage the liquidation of companies. Their responsibilities include taking control of company assets, recovering debts, conducting public auctions of assets, and settling creditors’ claims.
• Role as Regional Directors (RD):
  RDs head the seven Regional Directorates in India and are the senior-most ICLS officers in their respective regions. They oversee the activities of RoCs and OLs, ensuring effective execution of their responsibilities.

Indian Corporate Law Service Salary and Grade Pay 

ICLS is a grade ‘A’ service that is responsible for managing the matters related to companies affairs and functions in India. This service is considered one of the best career options when it comes to service providing and pay scale and salary. The table below provides the details about the salary and pay scale of ICLS Cadre:

Indian Corporate Law Service (ICLS) Training Period

The training for ICLS Officers is conducted at the Indian Institute of Corporate Affairs, Manesar, Haryana.

• The training is conducted for a period of 10 months. 
• As probationary officers, the induction training includes learning the provisions of Companies Act, LLP Act and other respective allied acts. 
• Bookkeeping, accounting, Indian Penal Codes, Law, Management and economics are a part of the training process. 

ICLS Service Career Growth 

The ICLS Officers have the following career growth prospects: 

• The Indian Corporate Law Service Cadre officers are appointed as Assistant Directors, Deputy  Directors and Joint Directors with the responsibilities of ensuring the working of companies in sync with the companies act. 
• Opportunity for promotion to the position of Director of Inspection and Investigation, enabling officers to investigate companies violating regulations and causing revenue loss to the government.
• Possibility to serve in the Serious Fraud Investigation Office (SFIO) to address complex financial fraud cases.
• ICLS cadre officers at the ministry level actively contribute to formulating policies, rules, and regulations, shaping the corporate governance framework.