To issue diligence report noc from old cs is required or not

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Querist : Anonymous

Querist : Anonymous (Querist)

28 July 2013 Dear Experts Members

I want one legal Help of CS Act and Companies Act, 1956

If One Client (Pvt. Co.) request me to issue the Diligence Report or Search Report for the Banks Whereas it is taking the Compliance Certificate from the Other PCS & the same PCS has till not issued me the NOC letter.

So Whether even to issue the aforesaid Reports, the NOC from Existing CS is required or not ?

Whether CS Appointment Resolutions needs to be passed or not ?

Ajay Mishra

Ajay Mishra (Expert)
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29 July 2013 Hi

As per my knowledge, you are hiring for giving search report for bank and not for other purpose. It is not as per Companies Act, 1956, It can be done by any professional, like CA or CMA.

You no need to take NOC from the existing CS.

You will give your report on the basis of records available with ROC/ company.

Querist : Anonymous

Querist : Anonymous (Querist)

29 July 2013 Dear Mr. Mishra

Search Report and Diligence Report is the Exclusive Subject of the Company Secretaries like Audit For CA.

There is no Scope for others.

I have read today, in the ICSI Guide line
that the NOC is mandatory otherwise it is a violation of Code OF Conduct.

Ajay Mishra

Ajay Mishra (Expert)
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30 July 2013 The question is issuing NOC letter from other PCS.

As per my knowledge, you can do such work without taking NOC from existing PCS, you can only take a Board Resolution from such company for hiring you for doing this job.

Querist : Anonymous

Querist : Anonymous (Querist)

30 July 2013 Dear Mishra Sir

Thank you for Providing your valuable time

But I have purchased the ICSI Guidance Notes.

As per it it is compulsory to do so.

I can send you the SCANNED PAGE.

Please give me the Email Id.

Ajay Mishra

Ajay Mishra (Expert)
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31 July 2013 ajaygkp@gmail.com

Querist : Anonymous

Querist : Anonymous (Querist)

31 July 2013 I have sent so

Please I will wait for Response

Ajay Mishra

Ajay Mishra (Expert)
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31 July 2013 Hope you got your answer from the said attachment.

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