ICSI removes more than 4000 Company Secretaries for Non-Payment of Membership Fees

The Institute of Company Secretaries India (ICSI) has released the list of its members, whose names were removed from the register owing to non-payment of annual membership fees.

The list contains about 4218 members, of which 3637 of them are ACS and 582 of the are FCS members. One may assume that the covid-19 pandemic has hit the profession of Company Secretaries also as the majority of the members removed are latest entrants to the profession. There has been instances where an ACS or FCS loses their membership because of non-payment of the membership fee or such other reasons. This deprives the members of the various privileges provided by the Institute. In order to restore membership one will have to pay the arrears of the annual membership fee, which has been due for over the years along with an additional entrance fee and restoration fee (plus GST) which are as follows.

* Fee inclusive of applicable GST@18%.

** Annual Membership Fee of Rs.1770/- and Certificate of Practice fee of Rs. 1770/- w.e.f. 01-04-2019 for associate members who were admitted on or after 01-04-2019 are valid for initial two years only including the admission year (irrespective of date of obtaining the Certificate of Practice in the year of admission) and the following year. The Annual Membership and Certificate of Practice fee will be automatically revised to full thereafter.

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