CS Executive · June 2026 · Paper 3
CS Executive Setting Up of Business, Industrial and Labour Laws June 2026: paper analysis
Our own analysis of the official paper, as of 12 October 2026. The questions and answers belong to ICSI; read them on ICSI's website.
Chapter-wise marks
Where the marks were in this paper (out of 100; internal-choice alternatives not double counted).
What each question tested
In our words, by question number. Open the official paper for the full question.
| Q | Marks | Tests | Chapter |
|---|---|---|---|
| 1(a) | 3 | Key legal features of a Section 8 company | Corporate Entities - Companies |
| 1(b) | 3 | Purpose of the integrated SPICe+ incorporation form | Corporate Entities - Companies |
| 1(c) | 3 | How bridge round funding meets startups' interim financing needs | Startups and its Registration |
| 1(d) | 3 | Legal requirements to convert a Section 8 company into a private company | Conversion of Business Entities |
| 1(e) | 3 | Loan facilitation through MUDRA-linked banks within Section 8 restrictions | Micro, Small and Medium Enterprises |
| 2(a) | 3 | Delayed payment to a micro supplier and determining the appointed day | Micro, Small and Medium Enterprises |
| 2(b) | 3 | Key elements of the scale-based regulatory framework for NBFCs | Financial Services Organization |
| 2(c) | 3 | Purposes for which a society can be registered | Non-Corporate Entities |
| 2(d) | 3 | Compliances before a branch office remits profits to its foreign head office | Setting up of Branch Office, Liaison Office and Wholly Owned Subsidiary by Foreign Company |
| 2(e) | 3 | Partner liability for fraud and protection of the LLP and innocent partners | Limited Liability Partnership |
| 3(a) | 3 | Process for obtaining DPIIT startup recognition | Startups and its Registration |
| 3(b) | 3 | Preparing, stamping, signing and filing MoA and AoA at incorporation | Corporate Entities - Companies |
| 3(c) | 3 | DIN and digital signature certificate requirements for proposed directors | Corporate Entities - Companies |
| 3(d) | 3 | Whether investing in a foreign entity without limited liability qualifies as ODI | Setting up of Business outside India and Issues Relating thereto |
| 3(e) | 3 | Principal business test for classifying a company as an NBFC | Financial Services Organization |
| 4(a) | 3 | Essential characteristics of a microfinance institution | Financial Services Organization |
| 4(b) | 3 | Precautions while drafting articles of association | Corporate Entities - Companies |
| 4(c) | 3 | Income of trusts and societies excluded from taxable income | Non-Corporate Entities |
| 4(d) | 3 | How foreign financial collaborations aid developing economies | Business Collaborations |
| 4(e) | 3 | Benefits of incorporating a housing finance company | Financial Services Organization |
| 4A(i) | 3 | Importance of choosing the right business entity form before starting | Selection of Business Organization |
| 4A(ii) | 3 | Corporate changes when a private company converts into a public company | Conversion of Business Entities |
| 4A(iii) | 3 | Operation of limited liability within an LLP | Limited Liability Partnership |
| 4A(iv) | 3 | Functional role of a project office of a foreign company | Setting up of Branch Office, Liaison Office and Wholly Owned Subsidiary by Foreign Company |
| 4A(v) | 3 | Significance of a trade licence for certain businesses | Various Initial Registrations and Licenses |
| 5(a) | 5 | Constitutional labour welfare protections against forcing a pregnant employee into hazardous night work | Constitution and Labour Laws |
| 5(b) | 5 | Duties of the appropriate authority to protect women in hazardous operations | The Occupational Safety, Health and Working Conditions Code, 2020 |
| 5(c) | 5 | Validity of recalling an employee soon after childbirth under maternity provisions | The Code on Social Security, 2020 |
| 5(d) | 5 | Employer obligation to provide creche facility | The Code on Social Security, 2020 |
| 6(a) | 5 | Statutory duties of employees at the workplace | The Occupational Safety, Health and Working Conditions Code, 2020 |
| 6(b) | 5 | Minimum membership criteria for registering a new trade union | The Industrial Relations Code, 2020 |
| 6(c) | 5 | Provident fund applicability to a co-operative society establishment | The Code on Social Security, 2020 |
| 6(d) | 5 | Permitted working hours and prohibited night work for adolescents | The Child and Adolescent Labour (Prohibition and Regulation) Act |
| 6A(i) | 5 | Need and objectives of the new labour codes | Evaluation of Labour Legislation and need of Labour Code |
| 6A(ii) | 5 | Qualifications for engaging an apprentice and contract formalities | The Apprentices Act, 1961 |
| 6A(iii) | 5 | Interim relief the Internal Committee may recommend during an inquiry | Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act, 2013 |
| 6A(iv) | 5 | Registers, returns and notices required of employers | The Code on Wages, 2019 |
What stood out
- Part I (setting up of business) is built entirely of 3-mark short questions: all 25 listed parts in Q1 to Q4A carry 3 marks each.
- The Part I case (Q1) centres on a Section 8 company and links incorporation, startup funding, conversion and MSME loan facilitation.
- The Part II case (Q5, 20 marks) focuses on protection of women in a hazardous establishment: night work, maternity benefit and creche facility under the labour codes.
- Financial Services Organization is tested repeatedly (NBFC regulation, NBFC classification, MFIs and housing finance companies) for 12 marks across 4 parts.
- Labour law coverage is wide: each of the four labour codes, child and adolescent labour, apprentices and the POSH Act appears at least once.
Practise the chapters that carried the marks
Corporate Entities - Companies, The Code on Social Security, 2020, Financial Services Organization: study guides and practice questions in the CS Executive format.