MOU with NISIET Hyderabad

MEMORANDUM OF UNDERSTANDING
This Memorandum of Understanding arrived at this Monday the 24th day of February, 2003

Between
nisiet an organisation of the Ministry of Small Scale Industries, Government of India to assist in the promotion and modernization of SMEs through training research, consultancy and information services, in the fields of SME development, management, extension and information, in the developing world, represented by its Principal Director having its office at Yousufguda, Hyderabad, 500 045 India.
And
The Institute of Company Secretaries of India, (hereinafter referred to as ICSI) a professional body constituted under the Company Secretaries Act, 1980 for the regulation and development of the profession of Company Secretaries and having its Headquarters at `ICSI House 22 Institutional Area, Lodi Road, New Delhi (chapter at Z P Road, Khairatabad, Hyderabad) represented by its President.

Whereas nisiet helps the Government in formulating, executing and evaluating its policies and programmes for the growth of SMEs.

Whereas ICSI imparts educational programmes to students aspiring to become Company Secretaries and organise seminars, workshops, executive development prorammes etc.

Whereas nisiet and ICSI have agreed to jointly organise and conduct executive development progammes, workshops and seminars, educational programmes leading to the award of Certificate for having attended to such programmes by participants in the areas of Corporate Laws, Corporate Governance, Statutory Compliances by Small and Medium Enterprises (SMEs), besides conducting research and providing information services to the developing world.

Whereas nisiet and ICSI have come forward to collaborate in the areas of training, research, consultancy and information services for the professional development of working executives, academicians and student community aspiring to be trained in the field of Corporate Laws, Corporate governance, Statutory Compliances by SMEs.

Now, therefore, it is hereby agreed by nisiet and ICSI, as follows :

Article I TRAINING
That both the parties collaborate and cooperate in organising training programmes in the following areas :
  1. Corporate and Securities Laws
  2. Industry Related Issues
    1. Small and Medium Enterprises
    2. Industrial Sickness
    3. Monitoring Enterprise Performance
  3. Financial Services
    1. Leasing
    2. Venture Capital
    3. Factoring
    4. Over the Counter Exchange
    5. Merchant Banking
    6. Credit Rating
    7. Forefeiting
    8. Stock Markets
    9. Depositories
    10. Derivatives
Article II RESEARCH AND CONSULTANCY
That both the parties conduct jointly the research and render consultancy services in the following areas :
  1. Effectiveness/impact of financial service
  2. Sickness (Revival strategies)
  3. Trends in non-banking finance companies
  4. Role of dedicated bank branches for industrial financing
  5. Study of monitoring of loans and advances given to SMEs
  6. Study of refinancing schemes for modernization and expansion
  7. Computer software development
  8. Corporate Governance in general and SMEs in particular
Article III TERMS AND CONDITIONS
That both parties give effect to this MoU on the following terms and conditions: -
  1. The training programmes will be jointly promoted and advertised with the respective logos and share the expenditure on equal basis.
  2. The services of resources persons or consultants of both the parties to this MoU shall be utilized for all such programme and such research and consultancy assignments.
  3. The certificates to be issued to the participants on completion of training programmes and reports relating to research and consultancy assignments shall bear the logo of nisiet and ICSI with the authorized signatures of the respective designated officers.
  4. The tenure of the present MoU will be for a period of three years. Thereafter the same can be reviewed and renewed with the mutual consent of both the parties. However, the Mou can be terminated by either the party with one month clear notice.
  5. The revenue and expenditure in respect of each programme or research and consultancy assignment shall be shared equally by both the parties. Further both the parties shall charge for infrastructural facilities, etc. provided by each party.
  6. This MoU does not preclude either the party from undertaking independent work in any of the areas mentioned in Article - I and II hereinabove.
  7. The faculty concerned involved in undertaking the activities shall meet at mutually agreed place once in three months to review the work in progress and plan for future activities.
  8. The MOU between nisiet and ICSI expressly implies that the object of this agreement is lawful and not fraudulent, illegal, immoral or opposed to public policy.
Article IV Arbitration
Any dispute arising out of this Memorandum of Understanding will be settled in the court under the jurisdiction of Hyderabad and Secunderabad.

IN WITNESS WHEREOF BOTH THE PARTIES HAVE SIGNED THIS AGREEMENT ON THIS THE 24th DAY OF FEBRUARY 2003 AT nisiet.

For The Institute of Company Secretaries of India

(Pavan Kumar Vijay)
President		 For nisiet Secretaries of India (ICSI)

(S W Prabhath )
Principal Director
WITNESSES WITNESSES
1. 1.
2. 2.