Studying smart beats blind memorization every single time. By analyzing past ICSI examination trends (June & December sessions from 2021 through 2025), you can easily isolate the top 20% of high-yield chapters that deliver over 60% to 75% of your paper score.
Preparing for CS Professional demands laser-focused time management. With exhaustive papers like CMADD, ESG, Drafting, SMCF, and CRVI, students often spend dozens of hours on 2-mark topics while neglecting predictable 20-to-40-mark areas. Below is the complete historical breakdown, session-by-session marks distribution, average weightage, and high-average priority chapters for all 5 core subjects.
SUBJECT 1 Corporate Management, Audit and Due Diligence (CMADD)
In CMADD, audit principles, legal frameworks governing CS, and signing certifications command immense recurring value. Focusing heavily on Concepts of Various Audits (13.5 avg) and Legal Framework (12.5 avg) creates an instant passing floor.
| Ch. No. | Chapter Name | June 24 | Dec 24 | June 25 | Dec 25 | Avg. |
|---|---|---|---|---|---|---|
| 1 | Compliance Framework | 5 | 5 | - | 15 | 6.25 |
| 2 | Documentation & Maintenance of Records | 10 | 10 | 15 | 5 | 10.00 |
| 3 | Signing and Certification ⭐ | 10 | 10 | 15 | 10 | 11.25 |
| 4 | Legal Framework Governing Company Secretaries ⭐ | 15 | 15 | 10 | 10 | 12.50 |
| 5 | Values, Ethics and Professional Conduct | 10 | 10 | 5 | 5 | 7.50 |
| 6 | Non-Compliances, Penalties and Adjudications | 5 | 5 | 10 | 5 | 6.25 |
| 7 | Reliefs and Remedies | 5 | 5 | 5 | 5 | 5.00 |
| 8 | Concepts of Various Audits ⭐ | 15 | 15 | 11 | 13 | 13.50 |
| 9 | Audit Engagement | 3 | 3 | 15 | 5 | 6.50 |
| 10 | Audit Principles and Techniques ⭐ | 13 | 13 | 8 | 13 | 11.75 |
| 11 | Audit Process and Documentation | 5 | 5 | - | 3 | 3.25 |
| 12 | Forming an Opinion & Reporting | 3 | 3 | 10 | 10 | 6.50 |
| 13 | Secretarial Audit | 10 | 10 | 8 | 10 | 9.50 |
| 14 | Internal Audit & Performance Audit | 8 | 8 | 8 | 3 | 6.75 |
| 15 | Peer Review and Quality Review ⭐ | 10 | 10 | 10 | 13 | 10.75 |
| 16 | Due Diligence | 8 | 8 | 5 | 10 | 7.75 |
SUBJECT 2 Environmental, Social and Governance (ESG) Principles & Practice
ESG features the most extreme marks concentration in the entire CS Professional course. Chapter 18: Risk Management carries an astonishing flat 40 Marks in EVERY single attempt! Pairing Risk Management with Board Effectiveness and Committees gives you a virtually guaranteed passing threshold before touching the rest of the syllabus.
| Ch. No. | Chapter Name | June 24 | Dec 24 | June 25 | Dec 25 | Avg. |
|---|---|---|---|---|---|---|
| 1 | Conceptual Framework of Corporate Governance | 5 | - | - | - | 1.25 |
| 2 | Legislative Framework of Corporate Governance In India | - | - | - | - | - |
| 3 | Board Effectiveness / Building Better Boards ⭐ | 5 | 24 | 20 | 20 | 17.25 |
| 4 | Board Processes Through Secretarial Standards | 10 | - | 5 | 5 | 5.00 |
| 5 | Board Committees ⭐ | 20 | 11 | 5 | 10 | 11.50 |
| 6 | Building Better Boards (Merged with Ch 3) | - | - | - | - | - |
| 7 | Concept of Governance in Managed & Promoters Driven Co. | 7 | 5 | 5 | 5 | 5.50 |
| 8 | Board Disclosures and Website Disclosures | - | 2 | 5 | 5 | 3.00 |
| 9 | Data Governance | 5 | 5 | 5 | 10 | 6.25 |
| 10 | Stakeholders Rights | - | 5 | 5 | 5 | 3.75 |
| 11 | Business Ethics, Code of Conduct and Anti-Bribery | 5 | 12 | 5 | 10 | 8.00 |
| 12 | Board's Accountability on ESG | - | 5 | - | - | 1.25 |
| 13 | Environment | 10 | - | - | - | 2.50 |
| 14 | Corporate Social Responsibility (CSR) | - | 5 | - | 5 | 2.50 |
| 15 | Green Initiatives | 8 | 8 | 5 | - | 5.25 |
| 16 | Governance Influencers | 5 | - | 15 | 5 | 6.25 |
| 17 | Empowerment of the Company Secretary Profession | - | - | 5 | - | 1.25 |
| 18 | Risk Management ⭐⭐⭐ (MANDATORY FOCUS) | 40 | 40 | 40 | 40 | 40.00 |
| 19 | Sustainability Audit; ESG Rating; Emerging Mandates | 7 | 7 | 8 | 8 | 7.50 |
| 20 | Integrated Reporting Framework; GRI; BRSR | 8 | 8 | 7 | 7 | 7.50 |
SUBJECT 3 Drafting, Pleadings and Appearances
Drafting is the quintessential CS skill. The data proves that Chapter 3 (Laws relating to Drafting and Conveyancing) is the undisputed king of this paper, averaging 37.5 marks (peaked at 60 marks in Dec 2024!). Combine this with SEBI Adjudications & Appeals (18.75 avg) and Agreements & Deeds (11.25 avg) for a targeted 65+ aggregate.
| Ch. No. | Chapter Name | June 24 | Dec 24 | June 25 | Dec 25 | Avg. |
|---|---|---|---|---|---|---|
| 1 | Types of Documents ⭐ | 5 | - | 35 | 10 | 12.50 |
| 2 | General principles of Drafting | - | - | - | - | - |
| 3 | Laws relating to Drafting and Conveyancing ⭐⭐⭐ | 20 | 60 | 40 | 30 | 37.50 |
| 4 | Drafting of Agreements, Deeds and Documents ⭐ | 15 | 20 | 5 | 5 | 11.25 |
| 5 | Drafting of Commercial Contracts | 5 | - | 5 | 5 | 3.75 |
| 6 | Documents under Companies Act, 2013 | 15 | - | 10 | - | 6.25 |
| 7 | Art of Opinion Writing | 15 | - | 10 | - | 6.25 |
| 8 | Commercial Contract Management | 10 | 10 | 5 | 5 | 6.25 |
| 9 | Judicial & Administrative framework | 10 | - | - | - | 2.50 |
| 10 | Pleadings | 5 | 10 | 5 | 15 | 8.75 |
| 11 | Art of Advocacy and Appearances | 5 | - | - | - | 1.25 |
| 12 | Applications, Petitions & Appeals under Co. Act | 15 | - | 20 | - | 8.75 |
| 13 | Adjudications and Appeals under SEBI Laws ⭐ | 5 | 30 | 20 | 20 | 18.75 |
| 14 | Appearance before other Regulatory Authorities | 5 | - | - | 20 | 6.25 |
SUBJECT 4 Strategic Management & Corporate Finance (SMCF)
SMCF balances high-level business strategy with corporate funding procedural rules. Raising of Funds from Equity (20.0 avg) and Debt Funding (18.75 avg) form a rock-solid 38.75-mark foundation on corporate finance. On the strategic side, Business Policy (15.0 avg) and Introduction to SM (12.0 avg) should be prioritized.
| Ch. No. | Chapter Name | June 24 | Dec 24 | June 25 | Dec 25 | Avg. |
|---|---|---|---|---|---|---|
| 1 | Introduction to Strategic Management | 15 | 8 | 15 | 10 | 12.00 |
| 2 | Analyzing External & Internal Environment | 5 | 2 | 10 | 10 | 6.75 |
| 3 | Business Policy & Formulation of Functional Strategy | 10 | 30 | 10 | 10 | 15.00 |
| 4 | Strategic Analysis & Planning | 10 | 15 | 5 | 10 | 10.00 |
| 5 | Competitive Positioning | 10 | 5 | 10 | 5 | 7.50 |
| 6 | Managing Multi-Business Firm & Strategic Edge | 10 | - | 10 | 15 | 8.75 |
| 7 | Sources of Corporate Funding | 5 | 6 | - | 10 | 5.25 |
| 8 | Raising Funds from Equity & Procedural Aspects ⭐ | 25 | 30 | 20 | 5 | 20.00 |
| 9 | Real Estate Investment Trusts (REITs) | - | 3 | - | 5 | 2.00 |
| 10 | Infrastructure Investment Trusts (InvITs) | 5 | - | 5 | 5 | 3.75 |
| 11 | Raising of Funds – Private Funding | 10 | 3 | 10 | 5 | 7.00 |
| 12 | Raising of Funds – Non-Fund Based | 5 | - | 5 | 5 | 3.75 |
| 13 | Listing & Issuance of Securities in IFSC | 5 | - | 5 | - | 2.50 |
| 14 | Raising Funds from Debt & Procedural Aspects ⭐ | 15 | 18 | 20 | 22 | 18.75 |
| 15 | Foreign Funding – Institutions | - | 5 | - | - | 1.25 |
| 16 | Foreign Funding – Instruments, Laws & Procedures | - | 5 | 5 | 5 | 3.75 |
| 17 | Role of Intermediaries in Fund Raising | 5 | - | 5 | 5 | 3.75 |
| 18 | Project Evaluation | - | 5 | - | 8 | 3.25 |
SUBJECT 5 Corporate Restructuring, Valuation and Insolvency (CRVI)
CRVI has deep multi-year empirical data spanning 10 exam sessions (2021 to 2025). A massive trend here is the mandatory introduction of Case Study Based Questions (20 marks flat in every session since June 2024). Alongside Case Studies, master CIRP Applications (8.7 avg), Valuation of Business (8.5 avg), and core Insolvency (8.3 avg).
| # | Chapter | J21 | D21 | J22 | D22 | J23 | D23 | J24 | D24 | J25 | D25 | Avg. |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Types of Corporate Restructuring | 5 | 11 | 10 | 15 | 5 | 6 | 5 | 5 | - | 5 | 5.7 |
| 2 | Acquisition of Companies / Buying Business | 10 | 13 | 3 | - | 6 | 5 | - | - | 5 | 10 | 5.7 |
| 3 | Planning & Strategy | 10 | - | - | 5 | - | 5 | - | - | - | 5 | 2.5 |
| 4 | Process of Merger & Amalgamation | 8 | 5 | 5 | 5 | 5 | 10 | 5 | - | - | 5 | 4.8 |
| 5 | Documentation – Merger & Amalgamation | 5 | - | 3 | 5 | - | - | 5 | - | 5 | - | 2.3 |
| 6 | Accounting in Corporate Restructuring | 5 | 15 | - | 3 | - | - | 5 | 5 | 15 | 5 | 5.3 |
| 7 | Taxation & Stamp Duty Aspects | 6 | 5 | 8 | 3 | 5 | 5 | 10 | 5 | 10 | 5 | 4.9 |
| 8 | Regulation of Combinations | 8 | 8 | 5 | 3 | 13 | 13 | - | 5 | - | - | 5.5 |
| 9 | Regulatory Approvals of Scheme | - | - | - | - | 3 | - | - | 5 | 5 | - | 1.3 |
| 10 | Fast Track Mergers | - | - | - | - | - | 8 | - | 5 | - | 5 | 1.8 |
| 11 | Cross Border Mergers | - | - | 5 | - | 13 | 3 | 5 | 5 | 5 | 5 | 4.1 |
| 12 | Valuation of Business & Assets ⭐ | 3 | - | 15 | 10 | 5 | - | 20 | 15 | 7 | 10 | 8.5 |
| 13 | EWS & Assets – IT | 5 | 10 | 5 | 5 | 10 | 5 | 5 | 5 | 13 | 10 | 6.8 |
| 14 | Insolvency ⭐ | 5 | 5 | 21 | 10 | 8 | 14 | - | 10 | 5 | 5 | 8.3 |
| 15 | Application for CIRP Process ⭐ | 13 | 8 | - | 6 | 15 | 5 | 5 | 15 | 5 | 15 | 8.7 |
| 16 | Role, Functions & Duties of IP/IRP/RP | 16 | - | - | - | 6 | 3 | 10 | 10 | - | - | 2.9 |
| 17 | Resolution Strategies | 10 | 5 | - | - | 10 | - | 5 | 5 | 10 | - | 4.3 |
| 18 | Committee of Creditors Meetings | 3 | - | - | 10 | - | 5 | 5 | 5 | 10 | 5 | 4.3 |
| 19 | Approval of Resolution Plan ⭐ | 5 | 5 | 10 | 3 | 8 | 11 | 10 | 5 | 5 | 5 | 6.7 |
| 20 | Pre-Packaged Insolvency Process | - | - | 5 | 5 | 5 | 5 | - | 5 | - | 10 | 3.5 |
| 21 | Cross Border Insolvency | 5 | 5 | 5 | 5 | 5 | - | 5 | 5 | - | 5 | 4.0 |
| 22 | Liquidation on failing Resolution Plan | 5 | 10 | 10 | - | 3 | 5 | - | - | 5 | 5 | 4.3 |
| 23 | Voluntary Liquidation | 5 | 10 | - | 5 | 5 | - | 5 | - | 5 | - | 3.5 |
| 24 | Debt Recovery & SARFAESI | 3 | 5 | 8 | 5 | 3 | 5 | 5 | - | - | 5 | 3.9 |
| 25 | Winding-up by Tribunal under Co. Act | 5 | 3 | 5 | 5 | - | 5 | 5 | 5 | 5 | - | 3.8 |
| 26 | Strike-Off & Restoration of Name | - | - | - | - | - | - | 5 | 5 | 5 | 5 | 2.0 |
| 27 | Case Study Based Questions ⭐⭐⭐ (Flat 20M) | - | - | - | - | - | - | 20 | 20 | 20 | 20 | 8.0 (20.0) |
- ESG: Master Risk Management (Ch 18) first. 40 guaranteed marks in every single attempt cannot be taken lightly.
- Drafting: Spend 50% of your initial drafting revision on Drafting and Conveyancing (Ch 3) and SEBI Appeals (Ch 13). That alone routinely totals 50 to 90 marks!
- SMCF: Treat Equity Funding (Ch 8) and Debt Funding (Ch 14) as non-negotiable practical modules.
- CRVI: Case study analysis is the new reality. Practice comprehensive cross-cutting CIRP and valuation problems rather than just memorizing standalone sections.
- CMADD: Focus on audit engagement, various audit concepts, and peer reviews to comfortably achieve 60+ exemption territory.
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