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FUNCTIONSThe Institute • develops a cadre of Company Secretaries for ensuring
governanceandeffectivemanagement in corporates byregisteringstudentswith10+2andgraduatequalificationsfor Foundation and Executive Programmes of CompanySecretaryship Course respectively with course contentsin Law, Tax, Management, Accounting and Financedisciplines;
• providespostal/oral /web-based coaching and trainingenablingstudentstoqualifyasCompanySecretaries;
• conducts Company Secretaryship Examination twiceayear in JuneandDecember.During theyear2016, theCompanySecretaryshipExamination wasconducted atover200 centres spreadallover IndiaandanoverseascentreatDubai;
• arranges practical training for Executive/ ProfessionalProgramme pass Students with Companies/PractisingCompany Secretaries etc. empanelled with the Instituteforthepurpose;
• enrolsqualifiedpersonsasAssociate/FellowMembersoftheInstituteandissuesCertificateofPracticetomemberstakinguppractice;
• conducts Post Membership Qualification Courses forMembersoftheInstitute;
• publishes widely read and highly acclaimed monthlyJournal ‘CharteredSecretary’disseminating information,expeditiously;
• Bringsoute-bulletins-StudentCompanySecretaryandCSFoundationCourseBulletinforthebenefitofstudents;
• exercises supervisionover theMembersof the InstitutebothinpracticeandinemploymentinmatterspertainingtoProfessionalEthicsandCodeofConduct;
• undertakes research in Corporate Laws, CorporateGovernance, Management, Finance and Capital Marketdisciplinesandbringsoutresearchpublications;
• formulatesSecretarialStandardsandbringsoutGuidanceNotesthereon;
• renders expert advisory services toMembers/ IndustryonissuesrelatingtoCorporateLaws;
• organises Professional Development and ContinuingEducationProgrammes,International/National/RegionalConventions and Conferences directly or through itsRegionalCouncilsandChapters,ChambersofCommerce,RegulatoryAuthorities,SisterProfessionalInstitutesandotherProfessionalDevelopment/ManagementBodies;
• interacts with various National and Regional Chambersof Commerce with regard to Government Policies andLegislations;
o interacts with International, multi-lateral bodies /institutionswithregardtoissuesrelatingtoCorporateGovernance, Business Ethics, Sustainability andCorporateSocialResponsibility;
o interacts with Centre and State Governments onvariousissuesconcerningtheprofession;
o undertakesbenevolenceofmembers;• interacts with Members of Corporate Secretaries
InternationalAssociation(CSIA)andCompanySecretariesInstitutesinotherjurisdictions;
• bestowsICSINationalAwardforExcellenceinCorporateGovernancetobestgovernedcompanies;
• bestowsICSICSRExcellenceAward;• bestows ICSI Lifetime Achievement Award to eminent
corporate personalities for Translating Excellence inCorporateGovernanceintoReality;
• conducts Investor Awareness Programmes throughoutthe country on behalf of the Investor Education andProtectionFund,MinistryofCorporateAffairs;
• undertakes Research Projects on behalf of GovernmentanditsAgencies/Institutions.
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SECRETARIAT
S.No. NAME OF OFFICER DESIGNATION DIRECTORATE / OFFICES1. CSDineshChandraArora Secretary Secretariat2. Dr.AmitaAhuja JointSecretary
(SG)CorporateCommunication
3. Mr.AnkurYadav JointSecretary(SG)
StudentServices,GrievanceRedressalCellandSMASHProject
4. Dr.SudhirK.Dixit JointSecretary(SG)
Printing,Publication&Co-Ordination
5. CSAlkaKapoor JointSecretary CEODesignate(ICSI-IPA)6. Dr.SanjayPandey JointSecretary Examination7. Ms.MeenakshiGupta JointSecretary Discipline8. CSAshokKumarDixit JointSecretary Membership,RTI,CSBF&Law9. Mr.SKNagar JointSecretary HumanResourceandCouncilAffairs10. Mr.SudiptoPal JointSecretary StudentServices11. Mr.SameerGupta JointSecretary FinanceandAccounts
(IncludingTreasuryCell)12. Mr.BhubananandaPradhan Director InfrastructureandSpecialProject(Noida)13. Mr.MAJoseph Director Examination14. CSSoniaBaijal Director ProfessionalDevelopment,Perspective
Planning&Academics(IncludingPMQCell)15. Dr.RajeshKumarAgrawal Director ICSI-CCGRT16. Dr.SKJena Director TrainingandPlacement(IncludingIndustry
InteractionCell)17. Mr.AKSrivastava Director Administration&Purchase18. Dr.NikhatKhan Director InformationTechnology19. Ms.PreetiKaushikBanerjee Director CorporateCommunication20. Dr.PrasantSarangi Director Research(ICSI-CCGRT)21. Ms.BanuDandona JointDirector CorporateLaws&Governance22. Ms.SarahArokiaswamy RegionalDirector SouthernIndiaRegionalOffice23. Mr.AKRath Director SouthernIndiaRegionalOffice24. Mr.DVNSSarma RegionalDirector EasternIndiaRegionalOffice25. Mr.KCKaushik RegionalDirector WesternIndiaRegionalOffice26. CSAlkaArora RegionalDirector NorthernIndiaRegionalOffice
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AUDITORS AND BANKERSSTATUTORY AUDITORS BANSAL,SINHA&CO.
CHARTEREDACCOUNTANTS18-19,OLDRAJINDERNAGAR
NEWDELHI-110060
INTERNAL AUDITORS ASAP&ASSOCIATES
CHARTEREDACCOUNTANTS1,TEMPLECOMPLEX,SHIVMANDIR,
TILAKBRIDGE,NEWDELHI-110001
BANKERS CANARABANK,AXISBANK,ICICIBANK,CITIBANK,INDIANBANK,
SYNDICATEBANK,VIJAYABANK,KOTAKMAHINDRABANK
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THE INSTITUTE OF COMPANY SECRETARIES OF INDIA
HEADQUARTERS ‘ICSIHOUSE’,22,InstitutionalArea,LodiRoad,NewDelhi-110003
Tel:011-45341000,41504444Fax:011-24626727
‘ICSIHOUSE’,C-36&C-37,Sector–62,Noida–201309Tel:4522000Fax:4264443&4264445(STD:0120)E-Mail:[email protected]:www.icsi.edu
RESEARCH & TRAINING CENTRE ICSI-CENTREFORCORPORATEGOVERNANCE,RESEARCH&TRAINING
PlotNo.101,Sector-15,InstitutionalArea,PalmBeachRoad,CBDBelapur,NaviMumbai-400614
Tel:27577814-15/41021515Fax:27574384(STDCode:022)E-mail:[email protected]
REGIONAL COUNCILS/OFFICES AND CHAPTERS
1. EASTERN INDIA REGIONAL COUNCIL ‘ICSIHouse’,3-A,Ahiripukur,1stLane,Kolkata–700019Tel:22816541/22832973/22901065/22902178-79Telefax:22816542(STDCode:033)E-mail:[email protected] Chapters:Bhubaneswar,Dhanbad,Guwahati(NorthEastern),Hooghly,Jamshedpur,PatnaandRanchi
2. NORTHERN INDIA REGIONAL COUNCIL
ICSIHouse’,PlotNo.4,PrasadNagarInstitutionalArea,NewDelhi-110005Tel:49343000Telefax:25722662(STDCode:011)E-mail:[email protected] Chapters: Agra,Ajmer,Allahabad,Alwar,Amritsar,Bareilly,Bhilwara,Bikaner,Chandigarh,Dehradun,Faridabad,Ghaziabad,Gurugram,Jaipur,Jalandhar,Jammu,Jodhpur,Kanpur,Karnal-Panipat,Kota,Lucknow,Ludhiana,Meerut,Modinagar,Noida,Shimla,Sonepat,Srinagar,Udaipur,VaranasiandYamunaNagar
3. SOUTHERN INDIA REGIONAL COUNCIL ‘ICSI-House’,No.9,WheatCroftsRoad,Nungambakkam,Chennai-600034Tel:28279898/28222212Telefax:28268685(STDCode:044)E-mail:[email protected] Chapters:Amaravati,Bengaluru,Calicut,Coimbatore,Hyderabad,Kochi,Madurai,Mangalore,Mysore,Palakkad,Salem,Thiruvananthapuram,Thrissur,andVisakhapatnam
4. WESTERN INDIA REGIONAL COUNCIL 13,JollyMakerChambersNo.2(1stFloor)andNos.56&57(5thFloor)NarimanPoint,Mumbai–400021Tel:22047580,22047569,22047604,22844073,61307900Fax:22850109(STDCode:022)E-Mail:[email protected] Chapters :Ahmedabad,Aurangabad,Bhayander,Bhopal,Dombivli,Goa,Indore,Kolhapur,Nagpur,Nashik,Navi-Mumbai,Pune,Raipur,Rajkot,Surat,ThaneandVadodara
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REPORT OF THE COUNCIL1. INTRODUCTIONIn termsof the requirementsofSub-Section (5B)ofSection18oftheCompanySecretariesAct,1980, theCouncilof the InstituteofCompanySecretariesofIndiaispleasedtopresentitsThirtySeventhAnnual Report and audited statements of consolidated accountsalongwiththeAuditors’ReportthereonfortheyearendedMarch31,2017.Theprogrammesandactivitiesorganizedandinitiativestakensubsequenttotheaboveperiod,tillthedateofthisreporthavealsobeenincludedinthisreport.President and Vice-President CS(Dr.)ShyamAgrawalfromNorthernRegionandCSMakarandMLelefromWesternRegionwereelectedbytheCouncilasPresidentand Vice-President of the Institute respectively, w.e.f. January 19,2017.Council MeetingsTheCouncilheldsevenMeetingsduringtheyear.Composition of CommitteesThecompositionofvariousStandingandNon-StandingCommittees,ExpertGroups,AdvisoryBoardsandoutsideCommitteesisgivenatAppendix-A.DetailsofmeetingsheldandattendedbytheMembersaregivenatAppendix- B.Regional Councils and ChaptersContinuous updation of knowledge and capacity building of itsmembers is one of the prime responsibilities of the Institute.RegionalCouncilsandChaptersoftheInstituteacrossthecountrycontinuedtoprovidevaluablesupportandassistancetotheCounciland conducted their activities with enthusiasm and carried outtheir functionsandresponsibilitiesdiligently throughout theyear.In the process, they had conducted Professional DevelopmentProgrammes, Seminars, Workshops, Training Programmes,ManagementSkillsOrientationProgrammes,ClassRoomTeaching,Study Circle Meetings, Regional and State Conferences, CareerAwareness Programmes and investor awareness programmes. Inaddition,theyhavealsofocusedonareaslikeup-gradationoflibrarysystem, publication of news bulletins, assistance to themembersseeking placement and organizing campus placement and HRConclaves.Statistics at a GlanceTheregion-wisestatisticsofStudentsandMembersasonMarch31,2017isasunder:
Number of Members EIRC NIRC SIRC WIRC TotalAson31.3.2017 5334 18517 9361 16985 50197Ason31.3.2016 4592 15941 8562 14865 43960
NUMBER OF STUDENTS FOR REGULAR PROGRAMME NumberofStudents EIRC NIRC SIRC WIRC TOTALAson31.03.2017 32444 107410 56128 95578 291560Ason31.03.2016 38821 120000 57887 102090 318798
NUMBER OF STUDENTS FOR FOUNDATION PROGRAMMENumberofStudents EIRC NIRC SIRC WIRC TOTALAson31.03.2017 4622 15129 7924 15161 42836Ason31.03.2016 5975 22117 8659 19427 56178
ChaptersDuringtheyearunderreport,therewere69Chapters.Region-wiselocationsoftheChaptersaregivenhereunder:EAST:Bhubaneswar,Dhanbad,Guwahati(NorthEastern),Hooghly,Jamshedpur,PatnaandRanchi(Total: 7)NORTH :Agra,Ajmer,Allahabad,Alwar,Amritsar,Bareilly,Bhilwara,Bikaner,Chandigarh,Dehradun,Faridabad,Ghaziabad,Gurugram,Jaipur, Jalandhar, Jammu, Jodhpur, Kanpur, Karnal-Panipat, Kota,Lucknow, Ludhiana, Meerut, Modinagar, Noida, Shimla, Sonepat,Srinagar,Udaipur,VaranasiandYamunaNagar(Total: 31)SOUTH: Amravathi, Bengaluru, Calicut, Coimbatore, Hyderabad,Kochi, Madurai, Mangalore, Mysore, Palakkad, Salem,Thiruvananthapuram,ThrissurandVisakhapatnam(Total: 14)WEST: Ahmedabad, Aurangabad, Bhayander, Bhopal, Dombivli,Goa,Indore,Kolhapur,Nagpur,Nashik,NaviMumbai,Pune,Raipur,Rajkot,Surat,ThaneandVadodara(Total: 17)The Chapters are the extended arms of the Institute and theycontinuedtoimplementthepoliciesandguidelinesoftheInstituteand carry out various activities, some of which are conductingclass room teaching, arranging training for students, organizingprofessional and continuing education programmes, holdinginvestor awareness programmes, conducting career awarenessprogrammes , publishing newsletters and providing Libraryfacilitiestomembersandstudents.Best Regional Council and Chapter Awards for the Calendar Year 2015InordertorecognizethecontributionsmadebytheRegionalCouncilsandChaptersaswellastoencourageandtocreatecompetitivespiritamong them, the Council of the Institute had instituted the BestRegionalCouncilAwardandBestChapterAwards.Best Regional Council, Best National Chapter and Grade wiseBest Chapter Awards for the year 2015 were presented at the44th National Convention of Company Secretaries held at GandhiNagar,Gujaratasunder:
Best Regional Council Northern India Regional Council
Best ChaptersSl. No. Category Name of the
Chapter1 NationalBestChapter Hyderabad2 GradeA+ Hyderabad3 GradeA Indore4 GradeB Nagpur5 GradeC Bhubaneswar6 GradeD Visakhapatnam
2. INFRASTRUCTURE I) Institute’s owned premisesA) Head Office- NewDelhi(OneBuilding),HeadOfficeatNoida
(TwoBuildings);ICSI-CCGRTatNaviMumbai(OneBuilding).B) Regional Offices - EIRO, Kolkata; NIRO, New Delhi; WIRO,
Mumbai;andSIRO,Chennai.C) Chapters - Ahmedabad, Bengaluru, Bhopal, Bhubaneswar,
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Bhilwara, Dombivli, Faridabad, Ghaziabad, Goa, Hyderabad,Hooghly, Indore, Jaipur, Kanpur, Kochi, Lucknow, Madurai,Mangalore, Mysore, Nagpur, Patna, Pune, Surat, Thane,Vadodara.
II) Initiatives undertaken for improvement of InfrastructureA) Head office• Renovation / refurbishingwork of ICSI-HQ building at Lodi
Roadisinprogress.• Possessionoflandof24000sq.yds.atAjmerhadbeentaken
jointly by three Professional Institutes (PIs) from AjmerDevelopment Authority (ADA) for setting up of Centre ofExcellenceforQualityandEthics.
• ConstructionworkofCentreofExcellencehasbeencompletedandhasbeeninauguratedon16thSeptember,2017.
• Plot of 1.5 Acreswas purchased fromWest BengalHousingInfrastructureDevelopmentCorporationLimited(WBHIDCO)atNewTown,KolkataforestablishmentofCentreofExcellence(CoE).
• Therenovation/alterationworkattheICSI-CCGRTbuildingisinprogress.
• Offerforallotmentof65.8Acreslandhasbeenreceivedfromthe Govt. of Madhya Pradesh for establishment of CentralCampusatvillageRampura,BalachonandKaranpura,BerasiaTehsil,Bhopal.RequesthasbeenmadetotheMadhyaPradeshGovernmenttoconsiderwaivingoffofAnnualleaserent.
B) Regional/ Chapter Offices• Theconstructionofnewbuildingbydemolishingtheexisting
building of North-East (Guwahati) Chapter is nearingcompletion.
• The constructionwork forUdaipurChapter newbuilding isalmostcomplete.
• Landadmeasuring30cents(13063Sq.Ft.)hasbeenpurchasedforCoimbatoreChapter’spremises.
• Plot admeasuring 3229.17 Sq.ft. has been purchased fromRaipur Development Authority, for construction of RaipurChapter’spremises.
• Possessionoflandadmeasuring1567.5Sq.MtatInstitutionalPlotNo.3/2,Sector-2,IMTManesarwastakenfromHaryanaState Industrial Infrastructure Development Corporation(HSIIDC)forconstructionofGurugramChapter’spremises.
• Renovation and construction of additional floor forBhubaneswarChapterpremisesisinprogress.
• Approval for fixing of priority for acquisition of biggerpremisesforWIROhasbeengiven.
III) Approval given for Fixing of Priority for Acquisition of Premises / Construction of New building.
ConstructionofnewbuildingbydemolishingtheexistingbuildingofHyderabadandKochiChapterandacquisitionofnewpremisesfor Kolhapur, Jodhpur, Nagpur, Hooghly, Bhopal, Ghaziabad,Lucknow, Aurangabad, Ahmedabad, Pune, Thiruvananthapuram,Visakhapatnam, Varanasi, Shimla, Chandigarh, Rajkot, Surat, Agra,KanpurandLudhianachapters.
3. HUMAN RESOURCE(1) Employee Development Inordertoenhancethecapabilities,efficiencyandeffectivenessoftheemployeestomeetandexceedtheexpectationofstakeholdersandtoprovidedelightfulservices,theInstitutehasprovidedtrainingforupdationofknowledgeand skillsof theemployeesduring theyear.Employees were nominated for various training programmes /workshops/seminars/conferencesduringtheyear.Amongthesesome of the training programmes were Hi-Impact Leadership -BluePrintforSuccess,ResidentialWorkshoponLabourLaws,ERPTrainingforSIRCandChapters,AllIndiaRajbhashaSameylanandChintan Shivar, Online LearningModule dealingwith “The SexualHarassment of Women at Workplace (Prevention, Prohibition &Redressal)Act,2013”,ITIL(InformationTechnologyInfrastructureLibrary) Foundation Training, Harnessing Effective People Skills,Organisational Skills & Managerial Effectiveness ,Android BasedMobileAppsDevelopment,Tenders,Bids&ContractManagement,International Conference on Corporate Governance : Retrospectand Prospects, Effective Performance Management, InternationalConference on Striking the Right Balance: Integrating EthicalBusinessPractices,WorkshoponDisciplinaryRules&Procedures,Developing Candor and Managing Conflict, Effective BusinessProposalsandReportWriting.(2) Recruitment In order to further strengthen the team, officials the followingpositionswererecruitedduringtheyear2016-17.
S.No. Post No. of Candidates recruited1 Secretary 12 JointSecretary 13 Director 14 JointDirector 25 AssistantDirector 66 AssistantEngineer 17 Executive(Law)/Internal
Audit4
8 JuniorProgrammer 29 SeniorOfficeAssistant 2
TOTAL 20(3) Employee Welfare During the year, the following initiatives were taken towardsemployeewelfare:(i) The employees who could not be promoted due to lack ofqualification were granted an additional 3% increment. (ii) TheChildrenEducationAllowance of SeniorOfficeAssistants&OfficeAssistantswasincreased.(iii)TheannuallimitofreimbursementofMedicalExpensesofSeniorOfficeAssistants&OfficeAssistantswasincreased.(4) Employee Relations Ason31.03.2017,themanpowerstrengthoftheInstitutestoodat393including109femaleemployeeswhichcomprised27.73%oftotalmanpowerstrength.
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The relationship between Employees and Management remainedcordialandharmoniousduringtheyear.4. CAPACITY BUILDING & KNOWLEDGE UPDATIONI. Companies Act, 2013 • “Enable, Evaluate, Excel”:ICSIhasstartedaweekendwebinar
series “The Companies Act, 2013 – Enable, Evaluate, Excel”for itsmembers from firstweek of 2017 to revive, refreshtheir knowledgeon theCompaniesAct, 2013andprovidinganopportunity forself-evaluationoftheirknowledgeonthesubjectandtopreparethemforfuturechallengesfocusingatthepracticalinsight,roleandopportunities.
• ICSI-Quest Assist: An initiative to reply to the queries andclarifydoubtsofmemberspertaining to theCompaniesAct,2013, Rules and Notifications made there under includingissuesrelatedtoE-filing.Thecall-infacilitybysubjectexpertsremainsopenfortwohours,twiceaweek.Duringtheperiodfrom February to May, 2017, a total of 25 sessions werecompleted.
• ICSI Quest e-Assist: The Institute has also launched ane-versionofitsQuestAssistinitiativetitled‘ICSIQuest-eAssist’,a24-hourlinkavailableonthewebsiteoftheInstitutetocatertothequeriesofthemembers.
• E-book on Companies Act, 2013:Tobringabout completeeaseof reference to theCompaniesAct2013, in itsentirety,ane-bookportalontheCompaniesAct,2013waslaunchedbyICSI.Thee-bookremainswellupdatedtakingintoaccountallamendmentsnotifiedbytheMinistryfromtimetotime.Thee-bookportal ishostedonwebsiteofMCAaswellasonthewebsiteofICSIat-http://ebook.mca.gov.in
• Compliance Management and Auditing Configurator (CMAC): TheSecretarialAuditaidsmonitoringofcomplianceswith the requirements of law through a formal compliancemanagement programme to produce positive results to allthestakeholdersofacompany.In linewiththisthoughtandtofacilitatetheconductofSecretarialAudit,theInstitutehasentrustedanexternal expert todevelopa tool “ComplianceManagementandAuditingConfigurator(CMAC),”withdetailedchecklistofapplicablelawscoveringtheCentralandStateActsfor35IndustryVerticalsand50Industrysub-verticalsapprox.
• Secretarial Standards:TheSecretarialStandardonMeetingofBoardofDirectorsandGeneralMeetings(SS-1&SS-2)asrevised by the ICSI, received approval from the Ministry ofCorporate Affairs under Section 118(10) of the CompaniesAct, 2013. The revised SS-1 and SS-2will be effective from1stOctober2017.
II. Capacity Building Programmes on Companies Act, 2013• Insolvency and Bankruptcy Code, 2016:NationalSeminar
on‘InsolvencyandBankruptcyCode’washeldatHyderabadand Mumbai. The Institute jointly with Insolvency andBankruptcyBoardofIndia(IBBI)organisedNationalSeminaronInsolvency&BankruptcyCode,2016inBhubaneswar.
• Secretarial Audit: ICSI and NSE jointly conducted twoworkshops on Secretarial Audit in Kolkata and Bangaloreon 10thMarch, 2017 and 24thMarch, 2017 respectively. The
majorfocusoftheworkshopwasonregulatoryexpectationsofSecretarialAudit,issuesandchallengesinauditprocessandtoprovideguidanceonhowtoprepareforSecretarialAudit.
• NCLT & NCLAT InstituteorganizedseveralNationalseminarsandwebinarson
NCLT&NCLATinordertoequipthemembersintheemergingprofessionalareas.
• Joint Programmes with Professional Institutes Instituteaspartofitscontinuouseffortforcapacitybuilding
of its members organized joint programmes with variouschambers,professionalinstitutes,theseincludes:
o 4th National Conference on Corporate ComplianceManagement-TheStrategicRegulatoryRemediation;and5thand6thNationalSummitonMergerandAcquisitiontitled “The Catalyst to Economic Growth” and “IssuesandChallengesunderpresentRegulatoryFramework”incollaborationwithASSOCHAM.
o One day Seminar on ‘Board Diversity – Driving aSustainable Organization through Board Diversityand Global Convention on Corporate Ethics & RiskManagement,incollaborationwithIOD.
o FourDaysworkshop on Corporate Laws&Regulations,2016 (RecentAmendments)andNational CompanyLawTribunal–Challenges&TheWayForwardImplications;and Insolvency & Bankruptcy Code, 2016 - EmergingIssuesandItsImpact,incollaborationwithPHDChamberofCommerce.
III) ICSI Suggestions on various draft Regulations The Institute submitted its suggestions to Regulatory
authoritiesasunder: (i) toReserveBankofIndia(RBI)ontheDraftRegulations
titled Foreign Exchange Management (Cross BorderMerger)Regulations,2017.
(ii) totheMinistryofCorporateAffairson: o Desirabilityofpublicationofnotice innewspapers
as required under the various provisions of theCompaniesAct,2013andRulesmadethereunder;
o DraftCompanies(RegisteredValuersandValuation)Rules,2017.
o AmendmenttoCompanies(specificationofdefinitiondetails)Rules,2014
o Section169oftheCompaniesAct,2013toprovidefor removal of independent director by way of aspecialresolution.
5. CORPORATE GOVERNANCEi. 1st ICSI CSR Excellence Award & 16th ICSI National Awards
for Excellence in Corporate GovernanceA. 1st ICSI CSR Excellence Awards: WithaviewtoprovidefurtherimpetustotheGovernment’s
effortstowardsimplementationofprovisionsrelatingtoCSRandtorecognizethegoodpracticesundertakenbyCorporatesundertheCSRumbrella, theInstitute initiatedthe ‘ICSI CSR Excellence Awards’.
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TheAwardsaimtopromotetheCorporateSocialResponsibilityintheIndiancorporatesby:
a. Acknowledging their unique and extraordinarycontributioninCSR;
b. Recognising contribution of corporates in fuellinginclusivegrowth;and
c. Recognising implementation of innovative practices inCSR.
All companies are mandatorily required to comply withSection135oftheCompaniesAct,2013areeligibletoapplyfortheawards.Theparticipatingcompaniesareevaluatedonthebasisoftheirresponsestothequestionnaires,mediareportsaswellasresponsesreceivedfromregulatoryauthorities.
The Awardees of the 1st ICSI CSR Excellence Awards are asunder:
• BajajCorpLimited –– EmergingCategory • ACCLimited –– MediumCategory • RelianceIndustriesLimited –– LargeCategoryB. 16th ICSI National Awards for Excellence in Corporate GovernanceThe Institute of Company Secretaries of India has always beenforthright in promoting its vision to become a global leader inpromoting good corporate governance and mission involvingdeveloping high caliber professionals facilitating good CorporateGovernance.TheideahasalwaysbeentocommendthecommitmentoftheIndiancorporatesectorinportrayingtheirconsciousnessasregardsgoodgovernance.Themulti-stagedevaluationprocessandtheextensiveparametersformingthebasisofsuchevaluationhavepavedthewayinaccordingpinnaclepositiontotheseawards.In pursuance of its goal of catalyzing a pervasive consciousnessof the need for good governance in the Indian corporate sector,ICSI instituted the “ICSI NATIONAL AWARDS FOR EXCELLENCEIN CORPORATE GOVERNANCE” in the year 2001. The underlyingobjectivesoftheAwardsinclude:• Recognizing leadership efforts of corporate boards in
practising good Corporate Governance principles in theirfunctioning;
• Recognizing implementation of innovative practicespromotingCorporateGovernance;
• Enthusing focus on Corporate Governance practices incorporatefunctioning;and
• ImplementationofbestpracticesinCorporateGovernance.TheAwardeesofthe16th ICSI National Awards for Excellence in Corporate Governance areasunder:• Best Governed Companies (in alphabetical order) • InfosysLtd. • Larsen&ToubroLtd.• Certificate of Recognition to other top 5 companies (in
alphabetic order) • BhartiAirtelLimited • DaburIndiaLimited
• Dr.Reddy’sLaboratoriesLimited • MindtreeLimited • RelianceIndustriesLimitedC. Life Time Achievement AwardTheICSILifetimeAchievementAwardisalsoconferredeveryyearononeeminentpersonalityfortranslatingexcellenceincorporategovernance into reality. The ICSI Lifetime Achievement Award isbestowed keeping in view the contribution under the followingheads:• PerformanceofGroup/Companyhe/shehasled;• SocialWelfare;• PublicPolicy;• CorporateGovernanceICSI Life Time Achievement Award for Translating Excellence inCorporateGovernanceintoRealityfortheyear2016wasconferredtoShriBabasahebNeelkanthKalyaniofTheKalyanigroup.TheCompanySecretariesoftwobestgovernedcompanieswerealsorecognizedontheoccasion.The award presentation ceremony of 1st ICSI CSR Excellence Awards and 16th ICSI National Awards for Excellence in Corporate Governance wasorganizedon24thDecember,2016atVigyanBhawan,NewDelhi,intheaugustpresenceofChiefGuest-Smt.NirmalaSitharaman,thenHon’bleMinisterofState,Commerce&Industry.6. ACADEMIC INITIATIVES• Practice Manuals:Withaviewtomakestudentsconversant
with the application of fundamental concepts and to guidethemonpracticalaspects,theInstitutereleasedtwoPracticeManualsonthesubjects(i)CostandManagementAccounting;(ii)AdvancedTaxlawsandPractice.
• Launch of E- learning Module on Banking Terminologies: The Institute launched a short term e-learning Module onBankingTerminologiesandalsoreleasedabookonBankingTerminologies.
• Short term Course in International Business Taxation:TheInstitute launcheda15daysOnlineCourseon InternationalBusinessTaxation for itsmembersandstudents to facilitatethem to acquire specialized knowledge in the area ofInternationalTaxation.
• Constitution of Syllabus Review Board The Council at its 233rd meeting constituted Syllabus
ReviewBoard.TheCouncilnotifiedNewSyllabus(2017)forFoundation Programme effective from April 01, 2017. TheBoardisworkingontheNewSyllabusforExecutiveProgrammeandProfessionalProgrammeofCompanySecretaryship.
• ICSI FINANCS Undertheperspectiveofourcontinuouseffortstostride
acrossprofessionaldiscipline,gazeupontheefficacyandopportunities bestowed in the current economic andlegislativescenario,theICSIhasstartedanewinitiative“ICSI FinanCS – Financial Opportunities -The ICSIansWay”. Through this interactive platform, identified
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opportunitiesandkeydevelopmentsinFinancialServicesspace alongwith an executivebrief is communicated tothemembersofICSIonweeklybasis.
• Launch of Online Courses To enhance portfolio of its members, the Institute
launched the two online Courses in association withNational Institute of Financial Management, Faridabad(NIFM), namely certificate Course in valuation andDiplomainInternalAudit.
• E-library for ICSI Members Withaviewtokeepitsmembersupdatedandtoequip
themwithknowledgeresourcetoolsandtofacilitatethemtocarryoutinstantresearch,ICSIprovidedane-libraryon corporate laws to its members on complimentarybasis.
7. Professional Development Initiatives• 44th National Convention of Company Secretaries The 44th National Convention of Company Secretaries was
organisedonthetheme:“PoweringGovernance-EmpoweringStakeholders: The Role of CS Professionals” at Gandhinagar,Gujarat from November 17-19, 2016. This Conventionwitnessedimmenseparticipationofdelegates.
TheChiefGuestofInauguralSessionwasHon’bleChiefMinisterof Gujarat, Shri Vijaybhai R. Rupani, CS (Dr.) MadhusoodanSahoo, Chairman, The Insolvency and Bankruptcy Board ofIndia;ShriMrugankM.Paranjape,MD&CEOofMCXofIndiaLimitedandShriBimalChaudhary,MD&CEO,AnmolBiscuitsgracedtheeventastheGuestsofHonour.
The Valedictory Sessionwitnessed the gracious presence ofSmt. Smriti Zubin Irani, Hon’ble UnionMinister for TextilesasChiefGuestalongwithShriVinaiKumarSaxena,Chairman,KhadiandVillageIndustriesCommission,GuestofHonour.
• 17th National Conference of Practising Company Secretaries
The 17th National Conference of Practising CompanySecretaries organised on August 12-13, 2016, at Kasauli,HimachalPradeshwitnessedacongregationofmembersfromdifferentpartsofthecountry.Hon’bleMr.A.R.Kohli,FormerGovernor of Mizoram and Hon’ble Justice Mr. M. M. Kumar,President, NCLT, graced the occasion as the Chief Guests atthe Inaugural andValedictorySessions respectively. Further,Ms.KiranOberoiVasudev,Chairperson,QualityReviewBoard,ICSI,wastheGuestofHonourattheValedictorySession.Thetwo day programme encapsulated technical sessions/paneldiscussions on various contemporary themes like StartupIndia, Goods and Services Tax, Financial Risk Management,InsolvencyandBankruptcyLaws,RealEstateAct,Companies(Amendment) Bill, 2016, National Company Law Tribunal,Competition Law and Ease of Doing Business in India –Facilitations and Obstructions etc. addressed by eminentspeakersfromtheRegulatoryBodies,IndustryandAcademia.
• Capital Markets Week As part of incessant initiatives towards investors’ education
and good governance in CapitalMarkets, the ICSI, observedCapitalMarketsWeekfromJune18-25,2016PAN-India,onthetheme‘TranscendingHorizons–CapitalMarketWay’.Duringthisweek,13megaprogrammes inaddition toanumberofAcademic Development Programmes, Panel Discussions,Lectures,InteractiveMeetingswithCapitalMarketRegulators/StockExchanges and InvestorAwarenessProgrammeswereorganizedbytheRegionalCouncilsandChapters.
• CS Day Celebrations TheInstitutecelebratedits48thCSdayonOctober4,across
the Regional Office(s) of ICSI and Chapter(s). Amega eventwasheldatKolkata.Mr.DerekO’Brien,MP&Leader,AllIndiaTrinamoolCongress,RajyaSabha,wastheChiefGuest.
• Celebration of PCS Day TheInstitutecelebratedPCSDaywithfullzestandvehemence
on 15 June to commemorate the historic day when theCompany Secretaries in Practice were accorded recognitionforCertifyingtheAnnualReturnsintheyear1988undertheerstwhileCompaniesAct,1956andbecamethefirstpremiermile stone in the development of the practising side of theprofessionofCompanySecretariesinIndia.
• Initiatives for MSME and Start-up India ThemembersoftheInstituteareactivelyengagedintheMSME
sector and are rendering value added services toMSMEs. AdelegationoftheInstitutemetMr.KKJalan,Secretary,MinistryofMicro, Small andMediumEnterprises to discuss thewayforward in guiding the entrepreneurs andproviding furthersupport to theMinistryofMSME.The Institute alsometDr.Anup K. Pujari, IAS, the then Secretary, Ministry of Micro,SmallandMediumEnterprisesatUdyogBhawan,NewDelhi.AdelegationoftheInstitutealsometSmt.NirmalaSitharaman,thenHon’bleMinisterofStateforCommerceandIndustryanddiscussed the feasibility of setting up of incubation centresproviding platform to the entrepreneurs for convertingtheir ideasintorealbusinessesandorganizinghandholdingcamps for start-ups towards fostering the development ofstart-upsundertheaegisofDIPP.TheInstituteorganizedthe2ndNationalSeminaronEntrepreneurship,SkillDevelopmentandGovernanceinMSMEswithFederationofRajasthanTrade& Industry as an associate partner at Hotel Hilton, JaipuronMay 28, 2016. Shri Rao Rajendra Singh, Hon’ble DeputySpeaker,RajasthanLegislativeAssembly,gracedtheoccasion.
• ICSI National Seminar on Entrepreneurship, Skill Development and Governance in MSMEs
The Institute in association with Ministry of Micro, Smalland Medium Enterprises (MSME) organised a Seminar on‘Entrepreneurship, Skill Development and Governance inMSMEs’atNewDelhionMarch19,2016.
• Recognition of Company Secretary under Guidelines for Grant of Unified License (Virtual Network Operators)
TheGuidelinesforGrantofUnifiedLicense(VirtualNetworkOperators) issued by the Ministry of Communication andInformation Technology authorise a Company Secretaryprofessional to certify the Certificate of Registration along
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withArticlesofAssociation,MemorandumofUnderstanding,Details of Promoters/ Partner/Shareholder Foreign DirectInvestment in the company for the purpose of Applicationto Department of Telecommunications for Grant of UnifiedLicense (Virtual Network Operators)/Authorisation forAdditionalServices.
• Recognition of Company Secretary for Third Party Certification by Government of Haryana
Department of Labour, Government ofHaryana has broughtoutanewcomprehensivetransparentinspectionpolicy,underwhichitrecognizesCompanySecretarytoprovidethirdpartycertificationunderthescheme.
• ICSI Outreach Programmes with MoU partners ICSIhasMemorandumofUnderstanding(MoU)withvarious
celebrious Institutes including Government and highereducationalbodies,ChambersofCommerce,StockExchangesetc.tocreatesynergiesforcapacitybuildingofitsmembersandstudents.WithanobjectivetoacknowledgeandreiteratetheassociationandbondagewithexistingpreciousMemorandumofUnderstandingpartnersofICSIandtoexploretheavenuesofnewassociationswiththem,ICSIorganised‘ICSIOutreach’programmes.
ICSIsignedaMoUwithBhawanipurEducationSocietyCollege,Kolkata and National Institute of Securities & Management(NISM) to hold joint workshops, seminars, continuingeducation and training programmes, exchange of journals,coursematerials, case studies and to conduct joint researchprojectsetc.TheInstitutealsosignedaMoUwithCompetitionCommission of India (CCI), New Delhi to collaborate in theareasofmutualinterestwhichincludescompetitionadvocacy,advancementofknowledge.
• Professional i-Tellect - Series of Webcasts and Webinars The Institute organised a series of webcasts ‘Professional
iTellect’toenrichtheknowledgeofmembersandstudents,onAccountingStandards,IndustrialAudit,RealEstateAct,CyberLaws,Brexit,CorporateFraudsetc.
• 7th National Legal Submit, 2017 The Institute in collaboration with Indian Chamber of
Commerce(ICC)asKnowledgePartnerorganized7thNationalLegalSummit,2017onMarch18,2017atNewDelhi,focussingon issues related to improving the trade and commerceecosystemalongwiththeconvergingonlegalreforms.
• Start-O-Vation Punjab TheInstitutecollaboratedwithIndianChamberofCommerce
as Strategic Knowledge Partner in Startup and InnovationSummit,2016titled“Start-O-Vation”organizedonNovember29,2016atChandigarhguidingentrepreneurstobuildastrongbase in terms of financing, leadership and strategies. TheMinistryofCorporateAffairsalsoputupabigpavilionwheretheconceptsofOPC,smallcompany,SPICE,incorporatedbodyetc.wereexplainedtothestart-upsandreadingmaterialandpamphletswere also distributed to the participants both inEnglishandHindilanguages.
• India Banking Reforms Conclave 2016 - Mumbai The Instituteassociatedas InstitutionalPartnerat the India
Banking Reforms Conclave, 2016 organised at Mumbaion August 24, 2016, to deliberate on challenges faced byIndian Banking Industry such as High Non-PerformingAssets, Governance, Risk Management, HR Challenges andTransformations though Information and CommunicationTechnologies.
• Training of Peer Reviewers During the year, training Programmes to empanel Peer
Reviewers were conducted at Noida, Gurgaon, Chennai,Nagpur,Vadodara,Bengaluru,Hyderabad,Kolkata,RaipurandKolhapur.
• Dress Code for a CS appearing before Judicial/Quasi – Judicial bodies and Tribunals
The Institute prescribed the Professional Dress Code forCompanySecretariestoappearbeforejudicial/quasi-judicialbodiesandtribunalslikeNCLT-NCLAT,SAT,etc.
8. INITIATIVES UNDER GST• GST Master Classes ICSI conducted a series of Master Classes on GST through
webinars. This online series encapsulates deliberations onInput tax credit, Transitional provisions under GST, IGST,Returns,Adjudication,Revision,Review&Appeals,TDS,TCS,Refundetc.
• National Symposium on GST The Institute organized National Symposium on Good and
ServicesTaxatBikaneronAugust13,2016.ShriArjunRamMeghwal,thenHon’bleUnionMinisterofStateforFinanceandCorporateAffairswastheChiefGuiest.
• National GST Conclave TheInstituteinassociationwithPHDChamberofCommerce
organizedNationalGSTConclave:OneNation,OneTax–PivotalTax Reform at New Delhi on February 9, 2017, to promotean informed dialogue on the Goods & Services Tax in thecountrywithitssectoralimplicationsanduniformtaxability&compliancesacrossIndiaunderthetagline“India–EkBharatShreshthaBharat”.
• Meeting with the Empowered Committee of State Finance Ministers
A delegation of the Institutemet Empowered Committee ofStateFinanceMinisterstodiscussGSTrelatedmattersatNewDelhionAugust30,2016.
• National Seminar on GST and Insolvency & Bankruptcy Code
TheInstituteinassociationwithICSIInsolvencyProfessionalAgency organized a National Seminar on GST and IBC –Culmination of Governance for Sustainable Tax Regime andInvigorating Balance in Corporate at Vijayawada, AndhraPradesh.
• GST Awareness Month TheInstitutecommemoratedAugust,2016as‘GSTAwareness
Month’ and took various initiatives such as dedicating anissueofCharteredSecretarytoGST,creatingaGSTCornerat
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theInstitute’swebsite,organizingAwarenessPrograms,GSTAwarenesswalks,webinars, seminars, sharingofknowledgematerialandpaneldiscussionsetc.
• GST Corner The Institute has taken proactively taking capacity building
initiativesinthedomainofGoodsandServicesTax, suchasa separate tab titled, ‘GSTCorner’ created on the Institute’swebsite containing knowledge material, updates, details ofevents etc. related toGST at the linkhttp://www.icsi.edu/GSTCorner.aspx.
• Dubai Webinar on GST TheInstituteorganizedanInternationalFinancialWebinaron
‘GSTanditsImpactstoNRI&GlobalBusinessCommunity’onOctober1,2016.
9. REPRESENTATIONS / INTERACTIONS WITH REGULATORS • Draft Real Estate (Regulation and Development) Rules,
2016 The Institute submitted its suggestions regarding the Draft
Real Estate (Regulation and Development) Rules, 2016issuedbyMinistryofHousingandUrbanPovertyAlleviation,GovernmentofIndia.
• Consultative paper on SEBI (Portfolio Managers)Regulations
The Instituted submitted its views and suggestions onSEBI Consultative Paper on Amendments to SEBI (PortfolioManagers) Regulations, 1993 pursuant to introduction ofSection9AintheIncomeTaxAct,1961.
• Consumer Grievance Redressal Mechanism to MCA On the mechanism for mandating Consumer Complaint
Redressal Mechanism by Companies under the CompaniesAct,2013,theInstitutehassubmitteditssuggestions/viewstoMCA.
• SEBI (LODR) Regulations, 2015 The Institute submitted views/ suggestions on SEBI Listing
RegulationsemanatingfromthedeliberationsanddiscussionsoftheprogrammesorganisedwithBSELtdandSCOPE,toSEBIforconsideration.
• Income Disclosure Scheme, 2016 ICSI represented at the interactive meeting called by
the Hon’ble Finance Minister Shri Arun Jaitley with theProfessionalbodies,Businessandindustryon28thJune,2016atNewDelhi.Smt.NirmalaSitaraman,thenHon’bleMinisterofCommerceandIndustry,ShriJayantSinha,Hon’bleMinisterofFinance,ShriPiyushGoyal,thenHon’bleMinisterforPower,Coal and New& Renewable Energy, Revenue Secretary andotherdignitarieswerealsopresentatthemeeting.
• Survey Report on ‘Implementation of Prevention of Sexual Harassment at Workplace’
The Institute released a report on the survey encapsulatingand analysing responses from 614 organisations on‘Implementation of prevention of Sexual Harassment atWorkplace’atHyderabad.
10) PUBLICATIONS • Golden Leafs of ICSI National Conventions 1972- 2015 During the 17th National Conference of the Practicing
CompanySecretaries,theInstituteforthefirsttimecompiledand released ‘Golden Leafs of ICSI National Conventions1972-2015’providing glimpses of the golden yesteryearsof ICSI Conventions and highlighting the excerpts from thespeechesofthedistinguishedspeakers.
• Publications Released TheInstitutebroughtoutfollowingpublicationsduringthe
year2016-17: • GuidanceNoteonSecretarialAudit(Release1.3) • GuidanceNoteonAOC-4 • NCLTandNCLAT–Manual • SettingupofPracticebyCompanySecretaries • ReferenceronBoard’sReport-RevisedEdition • SEBI(LODR)Regulations2015–DebtSecurities • FAQsonSection8Companies • GuidanceNoteonCodeofConduct • CSinPractice-AreasofRecognition • CDcontainingICSIPublications • Challenging Opportunities for Practicing Company
SecretariesinLabourLaws • Corporate Governance Certification under Listing
Regulations:AReferencer • CSSathi:AReferencerforCorporateLeaders • CyberCrime:Law&Practice • DelistingofEquityShares:LawandPractice • E-learningModuleonBankingTerminology • GuidetoTransferPricing • HandbookonArbitration,ConciliationandMediation • IndependentDirectors–AHandbook • RiskManagement:AToolforGoodCorporateGovernance • SEBI (LODR) Regulations, 2015 and Companies Act,
2013:AComparison • SEBI(ListingObligationsandDisclosureRequirements)
Regulations,2015–AReferencer • CoffeeTableBookonCorporateGovernance • E-BookonCoffeeTableBookonCSR • Corporatebankruptcy–Aprimer • BackgrounderonNationalCompanyLawTribunal • GenderDiversity.(Revised) • Rajasthan–EaseofDoingBusinessforMSMESector • ReferenceronEntrepreneurship,SkillDevelopmentand
GovernanceinMSMEs11. GLOBAL DEVELOPMENTS• Dubai Global Convention TheInstitutepartneredwiththeInstituteofDirectors(IOD)
in organizing the IOD’s ‘Dubai Global Convention 2016’ on
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the theme “Empowering Boards to become Instruments ofInnovation&Excellence”from19-21April,2016,atHotelTheMeydaninDubai.
• Corporate Secretaries International Association (CSIA) Executive Committee Meeting
ICSIrepresentativesattendedtheCSIAExecutiveMeetingonApril28-29,2016atLondon.TheICSIisoneofthefoundingmembers of Corporate Secretaries International Association(CSIA),whichisanInternationalBodyofInstituteofCompanySecretaries and Governance Professionals. In its ExecutiveCommittee,IndiaholdsthepositionofSecretary.OneamongstmanyagendawasthepointofinclusionofSecretarialServicesinthelistofservicesunderWTO.
• Interactive Meeting with Delegation from Republic of Kenya
An interactive meeting was organised with a high leveldelegation from Homa Bay County, Republic of Kenyacomprising of His Excellency Hon’ble Hamilton OnyangoOrata - Deputy Governor, Homa Bay County and Hon’bleProf. Tom Peter Migun Ogada - County Minister for Trade,Industrialization, Investment. The delegation had an openhouse session with the representatives from academia andindustry and ICSI Senior officials. Addressing the augustgathering,KenyanDelegationapprisedthatKenyaoffersquiteattractive investment opportunities for IndianMSME sectordesirous of entering African Markets and the Governmentis planning to develop specific themes with special focuson Cotton and Textile Industrial Park, Food Park, LeatherParketc.atpresent.Healso invited the Indian IndustryandentrepreneurstopayavisittoKenyaandexploreinvestmentopportunitiesintheMSMEsegment.
• Meeting with Designated Non-Financial Business Professions (DNFBP) Committee
TheInstituterepresentedattheMeetingofDNFBPCommitteeheldatLokNayak,Bhawan,NewDelhionJuly04,2016.Duringthe meeting, deliberations were made on the Anti MoneyLaunderingAct and the threat andvulnerability assessmentfor National Risk Assessment (NRA) exercise to assess therisksofvarioussectorsforeconomy.
• London Global Convention, 2016 The Institute of Company Secretaries of India (ICSI) was
an Associate Partner with the Institute of Directors (IOD)in organizing its Annual ‘16th London Global Convention2016’ on 17-19October, 2016 at London. The theme of theconvention was ‘Corporate Governance and Sustainability:Board’sOversightinaChallengingGlobalEconomy’.
• CSIA Council Meeting ICSI representatives participated in the Council Meeting of
CorporateSecretariesInternationalAssociation(CSIA)hostedby Thai Listed Company Association (TLCA) at Bangkok onOctober27,2016andtheStockExchangeofThailandOfficeon October 28, 2016. On October 27, 2016 a CorporateGovernance roundtable was also organised which wasattended by representatives from 15 member countries ofCSIA.
• President, ICSI elected as Secretary, CSIA CS(Dr.)ShyamAgrawal,President, the InstituteofCompany
Secretaries of India (ICSI) was elected as the Secretary ofthe Corporate Secretaries International Association (CSIA)during its Council Meeting held on March 15-16, 2017 atJohannesburg,SouthAfrica.
• 12th International professional Development Fellowship programme and International Conference
The Institute organised its 12th International ProfessionalDevelopment fellowshipProgramme (IPDFP) inRussia fromSunday,the11thJune,2017toSunday,the19thJune2017foritsmembersandtheirfamilies.TotalnumberofparticipantsofIPDFPwere81includingfamilymembersofdelegates.Duringthe tour, Business Breakfast sessions on various relevanttopicsweredeliberatedbytheparticipants.TheparticipatingMemberswereentitledtoTenProgrammeCreditHours.
As part of fellowship Programme, 12th InternationalConference on the theme “Strategic Leadership and BoardResponsibilities” was also organised on 12th June, 2017 atHotel Hilton garden Inn Moscow. The deliberations at theconferencewerehighlyenrichingcoveringtherecenttrendsingovernanceandcorporategovernance.Theconferenceaimedtoconversethelatestdevelopmentsintheareaofgovernanceandinclusiveeconomyatglobalplatform.Alongwiththelatestdevelopments, the premises of the conference focussed onhighlightingtheprominentrole,theCompanySecretariesplayas strategic leaders in strengthening sustainable CorporateGovernance
• “Make in India” Initiative ICSI delegation met Shri Naresh Kumar, Consul (HOC) and
commercial representative, at Indian Consulate General inJohannesburg and deliberated on furthering the initiativestaken by the Consulate in providing its services to SouthAfricancompaniesforsettingupbusinessinIndiaundertheMakeinIndiainitiativeofGovernmentofIndia.
• Facilitating Least Developed Countries (LDCs) for Developing and Strengthening the Company Secretary Profession
AnannouncementforpreferentialtreatmentbyIndiatoLDCswasuploadedatICSIwebsitewithcaptionICSIfacilitatesLDCsat http://www.icsi.edu/WebModules/ICSI%20proposal%20for%20LDCs.pdf.Theweb-linkofICSIhasalsobeenuploadedatwebsiteofMinistryofCommerceathttp://commerce.gov.in/writereaddata/uploadedfile/MOC_635963313403324681_Technical_Assistance_Capacity_Building.pdf
12. STAKEHOLDERS I) MEMBERSDuring the financial year ended 31st March, 2017, 6284 and 619memberswereadmittedasAssociatesandFellows,respectively.Ason 31stMarch, 2017, the Institute had 36928Associate and 7655Fellow members aggregating to 44583 members on the RegisterofMembersofwhich392areresidingabroad.Thenamesof5614membershavesofarbeenremovedfromtheRegisterduetonon-paymentofmembershipfee.Therewere9189memberswhowere
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holdingCertificatesofPracticeasonMarch31,2017andduringthefinancialyear2016-17,2113CertificatesofPracticewereissued.TheCouncilregretstoreportthesaddemiseof32membersduringthefinancialyear2016-2017.Know Your Member (KYM) proforma in digital mode becameoperational. Form-D for issue/renewal/restoration of Certificateof Practice was digitized. The processing time for AssociateMembershipapplicationhasbeenshortened.TheprintingtimeforMembershipcertificateshasbeenshortened.VariousMembershipfeeshavebeenrevisedw.e.f.1stApril,2017.AlignmentofnameofmembersaspertheirPANdetailshasbeentakenup.Thebi-annualICSIConvocationsatfourregionsweresuccessfullyorganized.TheRevisedGuidelinesforthenameofaproprietorshipconcern/firm/ trade was implemented. The Guidelines for change in name ofproprietorshipconcern/firm/tradewasintroduced.TheSOPforrecordingdemiseofamemberwasimplemented.1) List of MembersInPursuanceofsection19(3)oftheCompanySecretariesAct,1980,readwithRegulation161oftheCompanySecretariesRegulations,1982,alistofMembersasonApril1,2017hasbeenmadeavailableinCD.2) LicentiateshipDuring the year 2016-2017, 89 Final/Professional Examinationpassed Students of the Institutewere admitted as Licentiate-ICSI.ThenumberofLicentiatesasonMarch31,2017stoodat304.3) Company Secretaries Benevolent Fund (CSBF)Three schemes were launched to augment enrolment to LifeMembership of CSBF. The financial assistance from CSBF todependants of life members (till the age of 60 years) in case ofdemiseofthelifememberwasenhancedfrom5lakhto7.5lakhw.e.f.1stJanuary,2017.ThefinancialassistancefromCSBFtodependantsoflifemembers(above60years)incaseofdemiseofthelifememberwasenhancedfromRs.2lakhtoRs.3lakhw.e.f.1stJanuary,2017,indeservingcases.ThesubscriptionforlifemembershipofCSBFwasincreasedfromRs.7500toRs.10,000w.e.f.1stJanuary,2017.Therewasarecordincreasein lifemembershipofCSBFduringtheyear.TheCSBFmonthwasorganizedinMay,2016.Ason31stMarch,2017CSBFhadstrengthof12401LifeMembersagainst10845ason31stMarch,2016.Theregion-wisebreak-upisasunder:
REGION As on 31st March2016 2017
EIRC 844 959NIRC 3795 4315SIRC 3155 3593WIRC 3283 3785FOREIGN 55 55TOTAL 11132 12707SADDEMISES 287 306Total 10845 12401
4 ) TRAINING (i) Empanelment of Companies/Company Secretaries in Practice for imparting training.The Institute on continuous basis makes efforts to expand itstraining base by empanelling more companies/other entities aswell as Practicing Company Secretaries for providing training tostudents. During the year, 418 companies were empanelled forimparting15months/12months/24months/36months trainingand 772 Practicing Company Secretaries were empanelled forimpartingtraining.(ii) Executive Development Programme(EDP)During the year 64 Executive Development Programmes wereorganized.2564studentssuccessfullycompletedEDPinclassroomenvironment.(iii) Management Skills Orientation Programme (MSOP)(a) Regular MSOP 132regularManagementskillsOrientationProgrammeswere
organizedbytheRegionalandChapterofficesinwhich5770studentssuccessfullycompletedMSOPduringtheyear.
(b) Residential MSOP Duringtheyear ICSI-CCGRTorganized13residentialMSOPs
and531studentsattendedsuchprogramme.(c ) Weekend MSOP In order to facilitate working students, the Institute has
decided to allow conducting of MSOP on weekends also.During the year, NIRC organized 1 weekendMSOPs and 18studentsattendedtheprogramme.
(iv) Agencies authorized for Imparting 15 days Specialized raining
The Institute authorised following few more agencies forimparting15daysspecializedtrainingtoCSstudents:
i) ExportPromotionCouncil ii) ExportCreditGuaranteeCorporation iii) ReputedNGOs(withspecificapprovalofTEFC) iv) International organisations like United Nations or UN
affiliatedoffices v) SecretariatofLokSabha/RajyaSabha/Assembly vi) BankruptcyInsolvencyBoard vii) RealEstateRegulatoryAuthority(RERA) viii) LabourDepartment ix) Otherstatutorybodyorregulatorybody.(v) 45 days residential Corporate Leadership Development
Program The concept of introducing Residential Programme for
Professional pass students before getting their Membershipwas considered a long back by the Institute. However, itwas approved by the current Council on 27th March, 2017for introducing three months residential training programfor our professional Pass out students. Accordingly, theInstitute has launched its first ever residential programme
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onCorporateLeadershipDevelopment from1stAugust,2017to 14th September, 2017 in collaboration with Lloyd LawCollege, Knowledge Park- II, Greater Noida, UP. Initially, itis being introduced for 45 days on Pilot basis. Based on theobservationsandactualfeedback,itwillbedecidedtomakeitcompulsoryforallprofessionalpassoutstudentsbeforetheygettheirmembership.
(5) PLACEMENT :TheInstituteatitsHeadquarters,Regional/Chaptersofficesprovidesplacementassistancetoitsyoungmembersjoiningtheprofession.The Regional/ Chapters offices also organize campus placementinterviews time to time.During theyear, campus interviewswereorganizedatNewDelhi,Kolkata,Chennai,Ahmedabad,Bangaluru,andHyderabad&Noida.(a) ICSI Weblink Facilities for Trainers and TraineesTheICSIdevelopedaweblinkopportunitiesfortrainersandtraineesatasinglePlatform.TheInstituteprovidedcontinuousservicestobothtrainersandtraineesthroughitsweblinkthroughouttheyear.The‘trainingopportunitiesforstudents’andtraineesrequirementfor trainersareupdatedcontinuously to facilitate the services.Byvisiting this weblink students can get information about variousorganizations/companiesetc.wherethereisvacancyforCStraineesandinturntheycanapplyforthesameaspertheirsuitabilityandconvenience.From this portal, companies/PCS/other entities who are insearchofsuitablecandidatesforengagingthemastraineeintheirorganization, may search the e-mail ids of suitable candidates oftheir respective areas/locations, as per their preference and thentheymaywrite them to submit their CVs to respective company/PCS/otherentitydirectlyforfurtherscreening/shortlistingattheirend. State-wise, Chapter-wise, Stage of examination-wise, gender-wisesearchfacilityhasbeencreatedatthisportalformakingsearchconvenient&smoothforprospectivetrainers.(b) Developed web link - Job opportunities for members on ICSI website : TheInstituteisposting‘Jobopportunitiesformembers’onitswebsite,receivedfromvarioussources.Byvisitingthisweblinkstudentscangetinformationaboutvariousorganizations/companiesetc.wherethereisJobvacancyforCSmembersandinturntheycanapplyforthe same as per their suitability and convenience. This facility ofthe Institute is getting overwhelming response fromboth the Jobprovidersandjobseekers.(c ) Registration of FCS as Mentors for ICSI Mega Placement drive TheInstituteinthemonthofApril2017,launchedanewinitiativeofregistrationofFellowCompanySecretariestoregisterasMentorstofacilitateintheplacementdriveofICSI.Mentorswererequestedto provide support in terms of knowledge sharing and providingguidancetotheyoungmembersforgettingjobopportunities.(d) ICSI Mega Placement Drive :TheInstituteorganisedmegaplacementdriveinthemonthofMay2017inallfourregionsofICSI.Thefirstdrivewasconductedon19-20thMayinWIRCandSIRCandon26-27thMayatNIRCandEIRC
wheretheparticipantsweretrainedonInterviewSkilldevelopmentModule followed by Group discussion and personal interview . AgoodnumberofleadingorganisationsparticipatedforrecruitmentofCompanySecretariesinallthefourregions.II) STUDENTSa) CS Regular Programme During the year, 39975 students were registered in ExecutiveProgramme and 6624 students were registered in ProfessionalProgramme.Ason31stMarch,2017, therewere291560 studentswithvalidregistrationintheregularprogramme.b) CS Foundation ProgrammeDuringtheyear26104studentswereadmittedtotheFoundationProgrammeandtherewere42836FoundationProgrammestudentswithvalidregistrationason31stMarch,2017.c) ICSI Students Education Fund TrustThe Institute has created ‘ICSI Students Education Fund Trust’to encourage and motivate both economically backward andacademicallybrightstudentstopursuetheCompanySecretaryshipCourse.AspertheguidelinesoftheoftheTrust,eligiblestudentsarefullyexemptedfrompayingtheRegistration/AdmissionFee,EducationFee, Exemption Fee and other fees usually payable at the time ofadmission toFoundation/ExecutiveProgrammes.Basedon theirperformanceintheexaminations,suchstudentsarealsoexemptedfrom payment of all fee applicable at Executive Programme/ProfessionalProgrammestages.During theyear,205 and515 studentsbelonging toeconomicallybackwardandacademicallybrightcategoryrespectivelygotbenefitsfromtheTrust.(d) Conduct of ExaminationDuringtheperiodunderreport,CompanySecretariesexaminationsfor Executive Programme and Professional Programme (Old andNewSyllabus)aspersyllabusprescribedintheCompanySecretariesRegulations,1982wereheldat203and193centresalloverIndiaand one overseas centre at Dubai in June and December, 2016sessions of examinations respectively. A total number of103231 and93561candidatessoughtenrolmentforappearinginJuneandDecember,2016sessionsofexaminationsrespectively.Further,theComputer Based Examinations for Foundation Programme wereconducted at 109 and 115 Examination Centres all over IndiaincludingoneoverseascentreatDubaiinwhich15696and13701 candidatessoughtenrolmentforappearinginJuneandDecember,2016sessionsofexaminationsrespectively.Numberofcandidateswho completed various stages of examinations during the year2016-17istabulatedbelow:
Stage of Examination Examination SessionJune, 2016 December, 2016
FoundationProgramme 9707 8465ExecutiveProgramme 3503 3385ProfessionalProgramme(N/S) 1082 2324ProfessionalProgramme(O/S) 4418 NoExam
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List of cities for examinations and the statistics relating toexaminationresultsaregiveninAppendix – ‘C’ andAppendix – ‘D’ respectively.
e) Conduct of Post Membership Qualification (PMQ) Examination
TheInstituteconductedthePostMembershipQualification(PMQ)Course examination in (i) Corporate Governance; (ii) CorporateRestructuring and Insolvency; and (iii) Competition Law in June,2016. Statistical details relating toPostMembershipQualification(PMQ)ExaminationsresultsaregiveninAppendix - ‘E’.
f) All India Prize Awards
InordertoinspireandrecognisethebrilliantperformanceofstudentsinCompanySecretariesexaminations,theInstitutehasinstitutedanumberofawards.ThefollowingstudentswonthePresident’sAll-IndiaAwardsforJuneandDecember,2016Examinations:
Medal/ Examination June, 2016
Centre December, 2016
Centre
President’sGoldMedalforProfessionalProgramme
VivekChoudhary
Kolkata SuryanashAgarwal
Noida
President’sSilverMedalforExecutiveProgramme
RishabhHada
Kanpur SachinGoel Delhi(East)
Pt.NehruBirthCentenaryAnnualAwardwaswonbyMs.MansiJainofJaipur.Theparticularsofotherprizewinnersalongwithexistingall-IndiaPrizeSchemes,RegionalandChapterPrizeSchemeswerehostedontheInstitute’swebsite:www.icsi.edug) Merit Certificates/Merit Scholarships/Financial AssistanceMerit Certificateswere awarded to first 25 top-ranked successfulstudentseachinFoundationProgramme,ExecutiveProgrammeandProfessionalProgrammeexaminationsheldinJune,2016aswellasinDecember,2016.PursuanttoMeritScholarshipScheme,Scholarshipswereawardedtofirst25toppers,whoqualifyingallpapersofFoundationProgrammeandExecutiveProgrammeinthefirstattemptinJune,2016aswellasinDecember,2016sessionsofexaminationsforpursuingfurtherstudiesfortheExecutiveProgrammeandProfessionalProgrammeof Company Secretaryship Course respectively. Likewise, underthe Merit-cum-Means Assistance Scheme, financial assistancewere granted to eligible candidates considering their economicbackground and meritorious performance in June, 2016 andDecember,2016examinations.h) Re-Registration Policy Students who have passed the Intermediate Course / ExecutiveProgramme under any syllabus may directly register/ enroll forProfessional Programme Stage provided they are not eligible toseekRegistrationDenovo/Extensionaspertheregulations.Duringthe year, 33 students have sought re-registration to ProfessionalProgrammeStage.
I) New initiatives of the Institute(i) ICSI Signature Award The ICSI Signature Award Scheme was introduced by the
Instituteinfurtheranceofitsobjectivestonurturebesttalentavailableandfacilitatemeaningfulcollaborationsbetweentheinstitutions in thehighereducation sector for thebenefit ofstudentcommunity.
The initiative is expected to encourage competitive spiritamongthestudentsstudying invariouscollegesaffiliatedtotheUniversities.Under thisScheme,TopRankHolder in theB.Com.ExaminationsofrespectiveUniversitiesandtopperofselectedprogrammes/papersofIIMs/IITsshallbeawardedaGoldMedalandMeritCertificate.Topthreerankholdersinthe aforesaid examinations shall also be eligible for waiverof Registration Fee while registering for the CS Course inExecutiveProgramme.
The Institute has so far signed agreements/MOUswith thefollowingUniversities/IIMs:
1. Bhagat Phool Singh Mahila Vishwavidyalaya, KhanpurKalan,Haryana;
2. AlagappaUnivesity,Karaikudy,Tamilnadu; 3. GuruNanakDevUniversity,Amritsar,Punjab; 4. KumaunUniversity,Nainital,Uttarakhand; 5. HimachalPradeshUniversity,Shimla,HimachalPradesh; 6. Adikavi Nannaya University, Rajamundry, Andhra
Pradesh; 7. AndhraUniversity,Visakhapatnam,AndhraPradesh; 8. IIM,Indore,MadhyaPradesh; 9. SNDTWomen’sUniversity,Mumbai,Maharashtra; 10. IIM,Tiruchirapalli,Tamilnadu; 11. PanjabUniversity,Chandigarh,Punjab’; 12. IIM,Raipur,Chhattisgarh GoldMedals/Certificateswereawardedtothetoppersofthe
followingUniversities/Institutesupto31stMarch2017. 1. GuruNanakDevUniversity,Amritsar(PB) 2. AlagappaUniversity,Tamilnadu(TN) 3. KumaunUniversity,Uttrakhand(UK) 4. IndianInstituteofManagement,Tiruchirappalli(TN) 5. PanjabUniversity,Chandigarh(UT) 6. IndianInstituteofManagement,Indore(MP)(ii) CS Olympiad The Institutehas signedaMemorandumofUnderstanding (MoU)withtheScienceOlympiadFoundation(SOF)forconductingtheCSOlympiadforstudentsofClasses11and12ineachacademicyearinschoolsacrossIndia.TheCSOlympiadwassuccessfullyconductedin two phases i.e. on 15th September, 2016 and 4th October, 2016anditwasconductedin29States/UnionTerritoriesacrossabout400Cities,about1300Schoolsandmorethan36000studentswereenrolled.Besides,theCSOlympiadwasalsoconductedinmorethan10 Schools in Gulf Region, Bhutan, Srilanka, Singapore, Uganda,
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etc. The result of Company Secretary Olympiad has also beendeclared.(iii) CS Study Centre Scheme InordertoaugmentthereachandlevelofservicesbeingprovidedthroughitsRegionalCouncils&Chapters,‘ICSIStudyCentreScheme’was launched on 2nd October, 2015. The objective of the StudyCentreScheme is tobridge thedistancebarrierbetween ICSIandits students. Under the Scheme, Study Centres are proposed tobe opened in areas / locations, wherein the Institute’s Regional/Chapter Offices are not in existence. Nearly, all Smart Cities asproposed by the Government of India will be covered under thescheme.Apartfromprovidingbasicservices,theStudyCentresshallalsobeimpartingcoachingtothestudentsofvariousstages.Duringthe period upto 31st March, 2017, 39 Study Centres have beenopened in associationwith reputedColleges/Universities locatedthroughoutthelengthandbreadthofthecountry.(iv) Student MonthTheInstitutecameupwithanewinitiativetoholdStudentMonthduring July, 2016. A plethora of activities were organised duringtheStudentMonth.ThedeterminationbythevariousDirectorates/Units in theHQand theRegional&ChapterOffices inparticularin celebrating the Student Month has been unprecedented. Theteam work and selfless support at all levels have made easy theorganisationalaspectsofmultipleeventsacrossIndia.TheStudentMonthwillberememberedforalongtimebyTeamICSIowingtothemassiveteamworkandco-ordinationinvolved.ThesloganadoptedfortheStudentMonthwas“Udaan. We fuel your Growth”whichisindicativeoftheInstitute’sresolvetoproactivelybackthegrowthofstudentsasprofessionals.(v) Felicitation of Rank Holders in June, 2016 ExaminationsThe Institute invited the Rank Holders of Foundation, Executiveand Professional Examinations held in June, 2016 along withtheir parents to Kolkata to attend a felicitation function in theirhonour.The functionwasheldaspartof the ICSIFoundationDayCelebrationson4thOctober,2016.Morethan40rankholderswiththeirparentsattendedtheprogramme.(vi) Conduct of Webcast for CS StudentsThe Institute organized successfully the monthly webcast forstudents titled Precious ‘You’ to develop their general skills andknowledge in thecoresubjectareas.Therecordedwebcastswereuploaded on the ‘Youtube’ for the convenience of students whileprovidingtherequisitelinksontheInstitute’swebsite.(vii) Success Stories of top 10 rank holders ThevideobytesoftheToptenrankholdersoftheInstituteinJune2016examinationhavebeenmadeavailableonthewebsiteoftheInstitute.(viii) ICSI-SMASH ProjectTheInstitute’sactivitieshaveundergoneaseachangeovertheyearsand its growth in terms of number of stakeholders and activitieshadmadeitabsolutelyessentialtogoforacompletetransformationof the service providing mechanism especially the technologicalinterface availablewith the users in the Institute aswell aswiththestakeholders.ItwaspreciselyforthispurposethattheCouncilthroughtheInformationTechnologyCommitteehadlaunchedICSI
SMASH (Student Member Application Software Hosting) Project.TheICSISMASHProjectonitscompletion,shallbringaboutmajorchangesintheworkingoftheInstitute.TheexistingGrievancePortalhasbeentransformedandupgradedto next level and the improved version even allows uploading ofsupportingdocumentsby the stakeholderswhile submitting theirfeedback/ grievance. It shall contain a feature for Integrating /MonitoringthecommunicationsreceivedthroughGrievancePortal/CallCentre.ThesystemwillallowuploadingofarepositoryofTopic-wiseVideosandPresentationswith rollbasedaccess.There shallbemanymoreimprovementsattheendoftheuseratmicrolevelineachandeveryprocesstobedevelopedwhichshallultimatelyresultinimprovingtheproductivity.Grievance Solutions Cell The Institute is a service oriented organization. The grievances,suggestionsandqueriesreceivedfromthestakeholdersenabletheInstitute to improve constantly. For achieving this objective, theInstitutehascreatedaGrievanceSolutionsCellwhichismonitoringthe communications received through the Grievance Portal atwww.icsi.edu,dedicatedemail id: [email protected], CSTouchPortalandtheTicketManagementSystemofCallCentre.ServicesonCall Centre establishedby the Institute is available tothestakeholdersatTel.Nos.011-33132333/66204999from0700Hours to 2300 hours. The Grievance Solutions Cell is regularlycoordinating with the Service Departments for time-boundresolutionofsuchgrievancesapartfrombringinginimprovementsinexistingproceduresbeingfollowedbytheInstitute.13. BRAND BUILDING / MEDIA VISIBILITYTheInstituteinitsconstantendeavorforbrandbuildingtoenhancethevisibilityoftheInstituteandtheCSprofessiongainedextensivecoverage in the Print and Electronic media throughout the year.ICSInewsandeventswerecovered throughPresscoverage,Pressconferences,Mediainteraction,LivePaneldiscussionsetc.,ensuringallIndiavisibilityoftheInstitute.(i) Media Coverage in Newspapers / In-flight / Business Magazines/ TV & Radio ChannelsTo reach out to themasses throughmedia, 25 Press ConferenceswereorganisedatvariousRegionalCouncils/Chapters.ICSInews/eventswerecoveredbyleadingNationalandBusinessdailiesacrossIndia.28PressInterviews,16CareerFeatures,andmorethan550newspaperclippingswerepublished.ICSIwasalsocoveredby14TV/RadioChannelsviz.CNBCTV18,IndiaTodayTV,DoordarshanNational,NewsNationandAllIndiaRadioFMRainbow.(ii) CS Course Display Advertisements on Executive and Foundation ProgrammeAdvertisementshighlightingtheCut-offdatesforregistrationforCSExecutive& Foundation Programmewere released throughDAVPin National and Regional Newspapers during August 2016 andFebruary2017.(iii) Advertisement for Integrated Company Secretaryship CourseAdvertisementfor“IntegratedCompanySecretaryshipCourse”waspublishedinallEditionsofEducationTimes,Hindu,BusinessLine,TelegraphandBusinessStandard.
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(iv) Publicity of ICSI EventsPublicitywerearranged throughout theyear for the ICSINationalSeminars viz., 17th PCS Conference, ICSI Capital Market Week,16thICSINationalAwardsforExcellenceinCorporateGovernanceand1stICSICSRExcellenceAwards,44thNationalConventionofCompanySecretaries, 1st Global Congruence to Promulgate InternationalCorporate Governance Day, ICSI Convocation, Inauguration ofNew Buildings/ Chapters of ICSI, CS Day Celebration, Uday DivasCelebration, Swachh Bharat Abhiyaan, International Day of Yoga,Van Mahotsav, Student Month- Udaan, Earth Day, Ekta Divas,Internationalwomen’sDayetc.,(v) Brand Building and Visibility: • Registration Advertisements: Advertisements highlighting
theCut-offdatesforregistration,forCSExecutive&FoundationProgrammewerereleasedduringAugust2016andFebruary2017inNewspapersthroughDAVP.
• Magazine Advertisements: CS Course RegistrationAdvertisementwerereleasedinEducationSpecial/B-SchoolSpecial / leading Career Magazines viz., The Week , IndiaToday(EnglishandHindi),HarvardBusinessReview,Outlook,Rail Bandhu Magazine, Student Aid Publications, Careers360 Magazine, Free Press Journal (Special Supplement onEducation),DAVUnitedMagazine,BusinessWorld(B-SchoolSpecial)
• Employment News: Advertisements highlighting the Cut-off dates for registration, for CS Executive & FoundationProgrammewerereleasedinall8issuesofEmploymentNewsduringAugust-September2016andFebruary-March2017.
• Competition Magazine Advertisement: AdvertisementshighlightingtheCut-offdatesforregistration,forCSExecutive&FoundationProgrammewerereleasedinPratiyogitaDarpan(EnglishandHindi),CompetitionSuccessReview(EnglishandHindi), MBA - A Comprehensive Guide, General KnowledgeTodayandEngineeringSuccessReviewCompetitionRefresher,EducationReckoner.
• ICSI Corporate Advertisements in In-flight / Business / Career Magazines
Full page coloured “Corporate Advertisements” highlightingthe “Role of CS”were released in –Airports India (MonthlyMagazine of Airports Authority of India), Business World(B-SchoolSpecial),Exotica(ahome-growntravel,lifestyleandwellness magazine), FICCI Digest (Higher Education Issue),GoGetterMagazine(In-flightMagazineofGoAirways),IndiaTodayGroupMagazines-IndiaToday,BusinessToday,HarvardBusinessReview,Aspire,JetwingsandJetwingsInternational(In-flightMagazinesofJetAirways,DomesticandInternationalOperations respectively), Outlook, Shubh Yatra (In-flightMagazine of Air India), Spice Route (In-flight Magazine ofSpiceJet),FE1000(AnIndianExpressPublicationonTop500Companies).
Tenders / Classified• VariousTenders / Classified /AppointmentAdvertisements
wereissued.
• ICSI Events Advertisements: Quarter page ColourAdvertisements were released for major ICSI Events likeCapitalMarketsWeek,OpeningofCSAccelerationCentres,ICSIConvocations,Celebrationof InternationalDayofYoga,17thPCSConference,ICSI-CCIJointSeminar,CorporateGovernanceDay, 44th National Convention of Company Secretaries, CGAwards (Invitation for participations), Ascentia (TrainingInitiative),GST/GSTSymposium,Launchof4NewCoursesbyICSI,CSDay2016etc.,
(vi) Publication of 48 Pages Booklet on CS Course and Profession “CAREER AS A COMPANY SECRETARY”
• AnInformativeandAttractive48PageBookletonCSCourse&Profession“CareerAsaCompanySecretary”waspublishedinassociationwithCareers360(English)MagazineandwasdistributedalongwiththeirSeptember2016.
• The Booklet published contained Introduction to theICSI course, Curriculum, time frames, fees, difficulty, passpercentage, Employment potential, Placements, Interviewwith the President of ICSI, Interview with Secretary, ICSI ,Aspirationalstoriesofstudents&members,Goodgovernance,transparencypracticeofCompanysecretaries,Successstoriesofstudents.
• The Booklet on “Career as a Company Secretary” waspublishedandCirculatedtoover15,000Librariesofvariousschools and Colleges across the Country and additional20,000copiesoftheCSBookletweredistributedacrossmajorSchools&CollegesintheHindiBelt(CoveringStatesofUttarPradesh, Uttarakhand, Delhi, Chandigarh Punjab, Haryana,Bihar,Jharkhand,MadhyaPradesh&Chhattisgarh)
• TheICSIBookletpublishedbyCareers360MagazinewasalsosenttothealltheRegionalCouncilsandChapters.
(vii) Publicity Campaign on All India Radio & FM Radio Channels CS Radio Spots were broadcast during July-August 2016
to coincide with the cut-off date (s) for admission to CSFoundationProgramme.
(viii) Various Designing Assignments were undertaken by the Directorates
4ColourCSPamphlet,CSStudentAdvertisements,CSPamphletinHindi,CSFactsheet,ICSIGuidelinesforappointmentofICSICounsellors, 44th National Convention Brochure, CS Day2016, Corporate Governance Day, Swachhata Booklet, YogaBooklet,Udaan,ICSISignatureAward,VariousStandeesetc.,
Sponsorship for Mega Events : Organised for Advertising/ Sponsorship Support For Major ICSI Events CorporateMembershipofICSI.
(ix) Career Awareness 2550 Career Awareness Programmes were held across the
countrywith a view to attract best talent to the CS Coursewitha focusoncitiesand towns.CareerAwarenessWeeks I& IIwere organised in coordinationwith Regional Councils/ Chapters throughout the length& breadth of the country.TheInstitutealsoparticipatedinmorethan90CareerFairs/ExhibitionsacrossIndia.
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To popularise CS Course and attract young talent fromRemote/Rural/Mouffissil areas of the country the Instituteappointed232nos.ofICSICounsellors.
14. ICSI-CENTRE FOR CORPORATE GOVERNANCE, RESEARCH AND TRAINING (ICSI-CCGRT)
TheprimaryobjectiveoftheCentreistoactasacatalystorganisationin the professional development of the Indian corporate sectorthrough qualitative research and high level corporate trainingwith‘CorporateGovernance’asthethrustarea.Sinceitsinception,the Centre has undertaken a number of activities aimed towardsfosteringresearch.
(i) Professional Development Programmes
ICSI-CCGRTconductsProfessionalDevelopmentProgrammes(PDPs)for members, students, corporates and regulatory / governmentbodies.Apart fromprogrammesforupgradation/updationoftheknowledge base of Company Secretary functions, ICSI-CCGRT hasdesignedprogrammesforenablingCompanySecretariestoventuremoreeffectivelyintonewerareas.
ICSI-CCGRT provides reading material/backgrounders for theseprogrammes, generally based on in-house research. Some ofthesematerials include Compliancewith Listing Agreement, NewTakeoverCode(WithChecklistsandFormats),ScheduleIII,LabourLaws,BalanceSheetAnalysis,Shareholders’Agreement,SMEsandCompanySecretariesetc.
(ii) Integrated Company Secretaryship Course
Inorder to groom the studentsofCompanySecretaryshipCoursebetter tomeet the challenges of today and build a niche cadre ofgovernance professionals who can shoulder the responsibilitiesassigned to them in an evolving business environment andensure governance in true letter and spirit, Centre for CorporateGovernance, Research & Training (CCGRT) of the Institute ofCompanySecretariesofIndia(ICSI)isofferingthreeyearsIntegratedCompanySecretaryshipCourse(Full-Time).
This Course is being delivered by CCGRT at its premises in CBDBelapur, Navi Mumbai through Academia, Industry Experts andPractitioners. The Course inter-alia covers the syllabus of the CSCourseasnotifiedbyICSIfromtimetotime,focusingonexperientiallearning and, combining class room lectures, discussions, classexercises, case studies, mock meetings, industrial visits etc. andtraininginSoftskills,LeadershipTraitsandotherLifeSkills.Studentsare exposed to real life organisational situations, professionaldilemmasetc.toenablethemtodevelopholisticperspectivetowardsdecisionmakingandgovernance.Inaddition,CCGRTalsofacilitatesthefollowingforthestudentsofthisCourse:
• RegistrationandEnrollmentwithICSI• EducationalLoansfortheCourse• Internship/Training• HostelAssistancearoundCCGRTforoutstationcandidateson
request• PlacementAssistanceThis not only prepares the students to complete the CompanySecretaryship course, thereby making them eligible to be the
membersofICSIbutalsohelpsbuildtheirsoftskillsenablingthemtobethegovernanceleadersoftomorrow.(iii) Residential Management Skills Orientation Programme
(R-MSOP)An activity added to ICSI-CCGRT’s training initiatives for studentspursuingCompanySecretaryshipcourseisthroughtheResidentialManagement SkillsOrientationProgramme. ICSI-CCGRTorganizesResidentialMSOPswherestudentsfromalloverIndia,includingfromnon-metrocitiesandabroadparticipateandgettheopportunityforinteractionwitherudite. Inaddition to thecore subjectsofMSOP,the participants are also exposed to topics on soft skills, generalmanagement, human relations, financial markets etc. Studentsalso get an opportunity to enhance their communication skills,presentationskillsandpeerlearningthroughpresentationofgroupprojectsandcasestudiesbeforeapanelofexperts.ICSI-CCGRTwithits amenities, well designed programme schedule incorporatingvariedtopics,adeptfacultiespossessingrichexposureandexpertiseintheirrelatedfieldsandplacementassistanceisplayingapivotalroleincomprehensivelearningandprofessionalgrowth.(iv) Research Related ActivitiesInorder to fosterresearchamongCompanySecretariesandotherresearchers, ICSI-CCGRTwas entrusted with the responsibility ofadministeringtheICSIResearchInitiative.Thebasicideahasbeentodevelopsoundinformationbaseandinsightsintocorporate/relatedlaws,theirdeliverymechanism,needforharmonization/changesinthelightofemergingrealities,corporategovernanceetc.,andtousethedevelopedknowledgebase for brandbuilding and interactingwiththeGovernment,regulatoryandinternationalagencies.CCGRThas,sinceinception,completedanumberofcommissionedresearchprojectsforoutsideagencies/institutions.(v) Infrastructure facilitiesCCGRT possess the state-of-the-art infrastructure with air-conditioned and wi-fi enabled lecture theatres, conference room,faculty room and a high seating capacity auditorium. Further, ithas twenty two well furnished air-conditioned rooms for stayarrangements of RMSOP and Research colloquium/workshopparticipants.CCGRTe-Bulletin‘Chintanam’,whichhasbeenstartedfromApril 2017, is theoneof the significant steps taken in2017towards wide dissemination of wisdom among governanceprofessionals.CCGRTalsostartedseriescalled‘GyanJyoti’,wherein,CCGRTprovidewrite-upsandresearcharticlesonvariouscontemporarytopics.Nectar(AMRUT)ofGovernance-Governanceisapartandparcelofourexistence.Theactualpurposeofanygovernanceissustenanceand prosperity of the governed subjects. Self-governance, familygovernance, corporate governance, state governance or for thatmatter any type of governance ismainly aimed at welfare of thehumancapital.“Thoughhumanbeingoranylivingentitydoesn’twanttobegovernedbysomeoneandwantstobehaveindependently,onlyauthenticandtime tested governance makes life sustainable and prosperous.Thus,itcanbetermedasnectar,becauseitawardspermanencytotheperishableordestructiblesystems.However,whentheintendedpurposeof providing sustainability andprosperity by governance
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in the Institute’swebsitewith the facilityof receivingsuggestions/ feedback systemand testimonial form.Anexclusive childportalthrough a separate domain was launched for the Institute’s ‘CSOlympiad’ initiative. A child portal in the Institute’s websitefor celebrating student month was launched. Financial servicee-helpdesk application to receive views, feedback, queries andsuggestions on the Institute’s website was implemented. QuickLinks to view credit hours, online membership fee payment ande-cartserviceswereimplementedonthewebsiteoftheInstitute.Asapartof the initiative tobring in improvement in the internalworking of the Institute, Visitor’s Entry Gate Pass System wasimplementedforICSIheadquarterandICSINoidaOfficetoaddresssecurity concerns. A Data Extraction utility was developed andimplementedtoensuretheaccuracyandtimelydeliveryofmember’sdatatotheMinistryofCorporateAffairs.As a part of the new initiatives, Online Student Registration andEnrolment alongwith its associatedactivities,E-cart servicesandadditionalpaymentgatewayofKotakMahindraBankwerelaunchedthrough ambitious SMASH project. ERP software was upgradedfromOracleAppsversion12.0.6toversion12.1.3.Onlinebookingfacility for CS Acceleration Centre (CSAC) was launched. A MOUManagementApplicationSoftwarewasdevelopedandimplementedtobringinallMOUsoftheInstituteintoasingleplatformandmakethemdynamicallyavailabletothestakeholdersthroughthewebsite.KnowYourMember(KYM)onlineProformawaslaunched.ReceiptAccounting System (RAS) was upgraded to facilitate paymentthrough Point of Sale (POS) swapping machines. Online Resultfor June, 2016 and December, 2016 examination sessions weredeclared successfully. Members were facilitated to retrieve theirpassword in the form of SMS in their registered mobile number.Online membership fee payment facility for the members underconcessionalcategoryandOnlineForm-DsubmissionfacilityforthePractisingmemberswereimplemented.Online services for the students to submit request for trainingand for the companies/PCS to select these trainees as per theirrequirements were developed as a part of celebrating trainingmonthunderthebannerASCENTIA2016.OnlinevalidationforthemembersthroughApplicationProgrammingInterface (API) in respect of Compliance Management and AuditConfigurator(CMAC)Softwarewasimplemented.Aseparatecloudbased mailing system under icsiipa.com domain was facilitatedfor ICSIIPA. An exclusive website for ICSIIPA was developed andlaunched.ITIL(InformationTechnologyandInfrastructureLibrary)Trainingfor IT Officials was arranged tomake them aware of the variousstandardpracticesintheITsector.E-MSOPprogramhadbeen launchedwitha facility todeliver it ina completely digital self-paced learning mode. E-magazine withflappable pages for the Institute’s monthly Chartered Secretarymagazinehadbeen launched. ICSIhadtakenthe initiative tostarte-learningtoprovidestudentswithmultiplelearningopportunitiesandservicesanytime,anywhereand inmultiplemodalities.Theseserviceswillincludewelldefinededucationalpathwaysandstudent/teacher’ssystemsthatwillhelpallstudentsachievetheirindividualacademic goals. ICSI had taken an initiative of setting up Video
isnotachieved, itwillbetermedaspoison,notnectar.This is thegeneral experience in autocratic governance. But, any governanceprinciple derived and implemented, based on Vedic scriptures,willbewellacceptedbyoneandall,irrespectiveoftimeandspace,thusbecomingtrulythenectar.”Thusinordertocreateawarenessamongthestakeholders,CCGRThavetakeninnovativeapproachofpublishingNectar.Keeping this in view, CCGRT started the initiative named ‘AmrutDhara’,on12thMay,2017.In ‘AmrutDhara’,wearepublishingthearticles on Corporate Governance andManagement from AncientIndia&IndianEpic.In order to create awareness among Governance Professionals,Doyensofindustry,Professionalsrepresentingvariousprofessionalbodies and students pursuing Company Secretary and otherprofessionalcoursesregardingbriefof‘PremieronCompanyLaw’,CCGRThavelaunchedaninitiativenamed“GEETASAAR”.Recently ICSI-CCGRT conducted Research on a project titled “A Study on the Level of Compliance to Commodity Risk Disclosure Regulations in India & Abroad” given by Multi CommodityExchangeof IndiaLtdand ICSI-CCGRThas successfully completedtheresearchproject.15. Report of Cases filed & their disposal under The Sexual Harassment of Women at Workplace (Prevention, Prohibition & Redressal) Act, 2013 for the year 2016
S. No.
Description HQ NIRO & its
Chapters
EIRO& its Chapters
WIRO& its
Chapters, ICSI-
CCGRT
SIRO & its
Chapters
01 Numberofcomplaintsofsexualharassmentreceived
1 Nil Nil 1 Nil
02 Numberofcomplaintsdisposedoff
1 NotApplicable
NotApplicable
1 Nil
16 INFORMATION TECHNOLOGYThe Institute has adopted Information Technology in a big wayin all spheres of its activities to cater to the growing number ofstakeholdersandbringinimprovementinservices.Withthisoverallobjective,DirectorateofInformationTechnologyhasbeenentrustedwith the responsibility of harnessing the potential of Informationand Communication Technologies (ICT) and automating theprocesses for the stakeholders so that themembers and studentscanavailtheservicesanytimeandanywhere.SincetheDigitalIndiaprogramme is a flagship programme of the Government of IndiawithavisiontotransformIndiaintoadigitallyempoweredsocietyandknowledgeeconomy, the Institutes hasalsobeenreinventingitselftoprovideenhancedservicesbytakinginitiativeslikeonlinetraining; e-learning, Video Conferencing & Webcasting solution,VirtualClassroom,e-magazine,e-libraryetc.Website and Mobile Apps are the face of the Website. WebsiteHome Page and ‘CS Touch’ Mobile Apps were revamped with animpressive look and feel. President’s portal/Cornerwas launched
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Conferencing board rooms’ solution at selected locations with aprovisionofwebcastandalsotoattendthemeetingfromanywhere.Realizingthegrowingneedsofupgradingtheacquiredknowledge,ICSIhadprovidedE-library services to itsMembers andStudentsspread across the length& breadth of the country. To strengthenitfurther,itisbeingplannedtointegrateitwiththepowerfulLMSforbetterservices.Anumberofothereducationresourceswillalsobeintegratedtotheplatformtoenrichitsofferings.Itwill includeaudio conversion of Chartered Secretary for a different learningexperience.17. FUTURE OUTLOOKThe CS Profession in place for many years has undergonemajormetamorphosis in terms of the profile of Company Secretariesand the content of services provided to the Corporate World.Transformation driven by change requires sustained efforts tosucceed and brings forth better response to evolving situationsleadingtoimprovedperformance.Inthecontextualchangewhichisunderway,CompanySecretariesarepoisedforamuchsubstantiverole necessitating a complete overhaul of the mindset. Thisagain calls for determination to challenge the status quo and therecognitiontoadapttothedynamicrealities.Theneedtoperformtheroleofgovernanceprofessionalsandkeymanagerialpersonnelrequiresmuch-neededtransformationinallofus.Thereisnodenythe fact thatwe live in awirelessbut integrated flatworldwhichprovidessimultaneouslyboththeopportunitiesandchallengesforprofessionalsasneverwitnessedbefore,moresofortheprofessionof Company Secretaries. Globalisation is here to stay and theopportunitiescanbestbecapitalizedonlythroughengagement,notexclusionandbyidentifyingandbuildingoncompetitiveadvantages.Itisthetime,weshouldoccupytherightfulplaceintheCorporateBoardroomsforwhichweneedtoimbibeprofessionalism,learnourlessonsfastandmakeanindelibleimpactinourrespectivejobs.Fusionoftechnologywithknowledgetowardsbuildinghighcaliberregulated professionals to meet the need of corporate India willdefinitely place the Institute many steps ahead of others in thefuturetocome.
18. ACKNOWLEDGEMENTSTheCouncilplacesonrecorditsgratitudetothevariousMinistriesandOfficesoftheCentralGovernment,particularlytheMinistryofCorporateAffairs,MinistryofFinanceandChiefMinistersofStates,SEBI,RBI,StockExchanges,andotherregulatoryauthoritiesfortheirhelp,guidanceandsupportfordevelopmentoftheprofessionandencouragingtheactivitiesoftheICSIduringtheyear. TheCouncilisalsogratefultovariousStateGovernments,Financial/Industrial/Investment Institutions/ Corporate Sector, various Chambers ofCommerce, Trade Associations and other Agencies in general inavailingtheservicesofmembersoftheInstituteandinrecognizingtheirexpertise.The Council also places on record its deep appreciation to themembers of the Secretarial Standards Board, Quality ReviewBoard, Peer Review Board, Editorial Advisory Board, ExpertAdvisoryBoard,JuryfortheICSINationalAwardsforExcellenceinCorporateGovernance,ExpertGrouptofinalizetheQuestionnairesfor ICSINational Awards for Excellence in Corporate Governance,DisciplinaryCommitteeandBoardofDisciplineoftheInstitutefortheircontinuousandsincereguidanceandsupport. Italsoplaceson record its thanks to the Regional Councils and Chapters forextending their co-operation and support and also to theOfficersand Staff of the Institute for their unbridled commitment andboundlessenthusiasm.
For and on behalf of the Council
CS (Dr.) Shyam AgrawalPresident
NewDelhi26thSeptember,2017
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Appendix – ‘A’CONSTITUTION OF COMMITTEES1. Executive CommitteeSl.No Name Position 1. ShyamAgrawal(Dr.) Chairman2. MakarandMLele Member3. AmardeepSinghBhatia Member(Govt.Nominee)4. MamtaBinani(Ms.) Member5. AhaladaRaoV Member6. AshishGarg Member7. RanjeetKumarPandey Member2. Finance Committee Sl.No Name Position 1. ShyamAgrawal(Dr.) Chairman2. MakarandMLele Member3. YamalAVyas Member(Govt.Nominee)4. AhaladaRaoV Member5. AshishCDoshi Member6. RajivBajaj Member7. SantoshKumarAgrawala Member3. Examination CommitteeSl.No Name Position 1. ShyamAgrawal(Dr.) Chairman2. MakarandMLele Member3. GopalKrishnaAgarwal Member(Govt.Nominee)4. GopalakrishnaHegde Member5. RanjeetKumarPandey Member6. C.Ramasubramaniam Member7. SantoshKumarAgrawala Member4. Financial Services Committee Sl.No Name Position 1. MahavirLunawat Chairman2. AshishCDoshi Member3. AshishGarg Member4. RajivBajaj Member5. C.Ramasubramaniam Member6. SatwinderSingh Member7. SantoshKumarAgrawala Member5. Corporate Laws and Governance Committee Sl.No Name Position 1. MakarandMLele Chairman2. MamtaBinani(Ms.) Member3. AshishCDoshi Member4. GopalakrishnaHegde Member5. MahavirLunawat Member6. RanjeetKumarPandey Member7. VineetK.Chaudhary Member8. C.Ramasubramaniam Member6. Professional Development CommitteeSl.No Name Position 1. ShyamAgrawal(Dr.) Chairman2. VijayKumarJhalani Member(Govt.Nominee)3. YamalAVyas Member(Govt.Nominee)4. AhaladaRaoV Member5. AshishCDoshi Member
6. AshishGarg Member7. GopalakrishnaHegde Member8. RajivBajaj Member9. SantoshKumarAgrawala Member10. AtulHMehta Member7. Training & Educational Facilities CommitteeSl. No Name Position 1. MakarandMLele Chairman2. AmardeepSinghBhatia Member(Govt.Nominee)3. GopalKrishnaAgarwal Member(Govt.Nominee)4. RajeshSharma Member(Govt.Nominee)5. MamtaBinani(Ms.) Member6. MahavirLunawat Member7. RanjeetKumarPandey Member8. C.Ramasubramaniam Member9. SatwinderSingh Member10. VineetK.Chaudhary Member8. Practising Company Secretaries Committee Sl.No Name Position 1. AshishCDoshi Chairman2. AhaladaRaoV Member3. GopalakrishnaHegde Member4. AtulHMehta Member5. RajivBajaj Member6. RanjeetKumarPandey Member7. SantoshKumarAgrawala Member8. VineetK.Chaudhary Member9. Information Technology CommitteeSl.No Name Position 1. C.Ramasubramaniam Chairman2. AshishCDoshi Member3. AshishGarg Member4. MahavirLunawat Member5. RajivBajaj Member6. RanjeetKumarPandey Member7. SatwinderSingh Member8. VineetK.Chaudhary Member10. Peer Review Board Sl. No Name Position 1. MakarandM.Lele Chairman2. GopalakrishnaHegde ViceChairman3. AshishGarg Member4. C.Ramasubramaniam Member5. RajivBajaj Member6. SatwinderSingh Member7. AnilMurarka Member8. AshokTyagi Member9. MilindB.Kasodekar Member10. SavithriParekh(Ms.) Member11. SudhirBabuC. Member11. Placement CommitteeSl. No Name Position 1. RajivBajaj Chairman2. AhaladaRaoV. Member3. AshishC.Doshi Member
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4. MahavirLunawat Member5. SatwinderSingh Member6. SantoshKumarAgrawala Member7. VineetK.Chaudhary Member12. PMQ Course CommitteeSl. No Name Position 1. RanjeetKumarPandey Chairman2. AshishGarg Member3. MahavirLunawat Member4. C.Ramasubramaniam Member5. SatwinderSingh Member13. ICSI-CCGRT Management CommitteeSl.No Name Position 1. AshishGarg Chairman2. GopalakrishnaHegde Member3. RajivBajaj Member4. C.Ramasubramaniam Member5. SatwinderSingh Member6. AtulH.Mehta Member7. KaushikJhaveri Member8. ManojSonawala Member9. OmPrakashBagdia Member10. BLJain Member11. SushilSamdhani Member12. RahulSharma Member13. VijayKumarJhalani Member(Govt.Nominee)14. Secretarial Standards BoardSl.No Name Position 1. PavanKumarVijay Chairman2. AnilKumarMurarka Member3. AmitGupta Member4. B.Shanmugasundaram Member5. DiptiMehta(Ms.) Member6. GeetikaAnand(Ms.) Member7. J.N.Gupta Member8. MilindBKasodekar Member9. N.Hariharan Member10. NarayanShankar Member11. ParvatheesamKanchinadham Member12. R.Ravi Member13. RajivBajaj Member14. RajuRanganathan Member15. S.CVasudeva Member16. S.H.Rajadhyaksha Member17. S.Sudhakar Member18. SavithriParekh(Ms.) Member19. SubhashC.Setia Member20. ShujathBinAli Member21. VineetK.Chaudhary Member22. RajendraSinghi Member23. C.S.Govindarajan RepresentativeofMCA24. C.D.Srinivasan RepresentativeofRBI25. GirishJoshi RepresentativeofBSE26. S.Madhavan RepresentativeofNSE27. B.Murli RepresentativeofFICCI28. G.P.Madaan Representativeof
ASSOCHAM
29. P.K.Rustagi RepresentativeofPHDChamberofCommerceandIndustry
30. K.Sripriya(Ms.) RepresentativeofICAI31. AmitAnandApte RepresentativeofICAI
(Cost)32. PradeepRamakrishnan RepresentativeofSEBI33. AjayVaidya RepresentativeofCII15. Expert Advisory Board Sl. No Name Position 1. GopalakrishnaHegde Chairman2. AbhishekChaudhary Member3. K.K.Rao Member4. MaheshAnantAthavale Member5. ManojMaheshwari Member6. MunishSharma Member7. NakulUpadhaya Member8. Dr.S.Chandrasekaran Member9. Dr.S.D.Israni Member10. SanjayKumarGupta
(Confirmationawaited)11. SureshSharma Member12. U.K.Chaudhary Member13. P.K.Malhotra Member14. R.Sridharan Member15. AnupamGarg Member16. RahulRanjan Member17. GajendraP.Singh Member18. PrakashR.Chennai Member19. SunilDuttVyas Member20. JayanKattiri Member21. G.V.SrinivasaMurthy Member22. SumanJyotiKhaitan Member23. JyotiVij(Ms.) Member24. RepresentativeofCII
(Confirmationawaited)16. Editorial Advisory BoardSl.No Name Position 1. SantoshKumarAgrawala Chairman2. AtmaRamGupta Member3. D.K.Jain(Dr.) Member4. G.R.Bhatia Member5. GopalJiwarajka Member6. H.M.Choraria Member7. J.K.Mittal Member8. N.K.Jain Member9. NirmalaRawat(Ms.) Member10. P.K.Mittal Member11. PrithviHaldea Member12. K.Narayanaswamy Member13. UdaiParnami Member14. V.K.Singhania Member15. R.C.Gupta Member17. Research CommitteeSl.No Name Position 1. AhaladaRaoV. Chairman
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2. MamtaBinani(Ms.) Member3. AshishC.Doshi Member4. AshishGarg Member5. MahavirLunawat Member6. RajivBajaj Member7. SatwinderSingh Member8. VineetK.Chaudhary Member18. Elections Reforms CommitteeSl. No Name Position 1. SatwinderSingh Chairman2. GopalakrishnaHegde Member3. MahavirLunawat Member4. RajeshSharma Member5. C.Ramasubramaniam Member6. SantoshKumarAgrawala Member7. VineetK.Chaudhary Member8. AtulH.Mehta Member19. Disciplinary CommitteeSl. No Name Position 1. ShyamAgrawal(Dr.) PresidingOfficer2. NalinKohli Member(Govt.Nominee)3. MeenaskhiDattaGhosh Member(Govt.Nominee)4. AhaladaRaoV. Member5. SantoshKumarAgrawala Member20. Board of Discipline Sl. No Name Position 1. AshishCDoshi PresidingOfficer2. C.Ramasubramaniam Member3. DineshCArora Member21. Quality Review BoardSl. No Name Position 1. KiranOberoiVasudev(Ms.) Chairperson2. VithayathilKurian Member3. IIamKamboj Member4. NavneetChouhan Member5. VineetK.Chaudhary Member22. Syllabus Review Board Sl. No Name Position 1. C.Ramasubramaniam Chairman2. YamalA.Vyas Member(Govt.Nominee)3. AshishC.Doshi Member4. MahavirLunawat Member5. RanjeetKumarPandey Member
6. AtulH.Mehta Member23. Regulations and Chapter Guidelines Reforms CommitteeSl.No Name Position 1. MakarandM.Lele Chairman2. VijayKumarJhalani Member(Govt.Nominee)3. AhaladaRaoV. Member4. GopalakrishnaHegde Member5. SantoshKumarAgrawala Member6. VineetK.Chaudhary Member24. Auditing Standards BoardSl. No Name Position 1. VineetK.Chaudhary Chairman2. AmitGupta Member3. AmitKumarJain Member4. AnilKhaitan Member5. AnshulKumarJain Member6. BimanDebnath Member7. C.Ramasubramaniam Member8. DeveshKumarVasisht Member9. HimanshuS.Kamdar Member10. ManojRajaramHurkat Member11. MunishKumarSharma Member12. ParagInamdar Member13. PrachetaM. Member14. P.K.Krishnamurthy Member15. RacharlaRamakrishnaGupta Member16. RupeshAgarwal Member17. S.Bhaskar Member18. SachinAgarwal Member19. SanjayJain Member20. SanjayRathi Member21. SiddharthaMurarka Member22. SwayambhuKedarnath Member23. TimirBaranChatterjee Member24. VidyaJoglekar Member25. VijaySharma Member26. President,ICSI Ex-officio27. VicePresident,ICSI Ex-officio25. Brand Promotion & PR CommitteeSl. No Name Position 1. RanjeetKumarPandey Chairman2. AtulH.Mehta Member3. AshishGarg Member
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NOMINATIONS ON VARIOUS OUTSIDE COMMITTEES
Sl. No Name of the Committee/institution Institute’s Representative on the Committee in year 2017
1. NationalAdvisoryCommitteeonAccountingStandards(NACAS)-MCA
CS(Dr.)ShyamAgrawal,President
2. AccountingStandardsBoard,ICAI CSAshishCDoshi,CouncilMember
3. CostAccountingStandardsBoard,ICoAI CSAshishGarg,CouncilMemberCSVineetKChaudhary,CouncilMember
4. CostAuditandAssuranceStandardsBoard,ICoAI CSAshishGarg,CouncilMemberCSVineetKChaudhary,CouncilMember
5. GoverningCounciloftheNationalfoundationforcorporateGovernance(NFCG)
CS(Dr.)ShyamAgrawal,President
6. BoardoftrusteesoftheNationalfoundationforCorporateGovernance(NFCG)
CSDineshCArora
7. Indo-UKTaskforceonCorporateAffairs,MCA CS(Dr.)ShyamAgrawal,PresidentCSCRamasubramaniam,CouncilMemberCSSantoshKumarAgrawala,CouncilMemberCSSatwinderSingh,CouncilMember
8. Indo-UKAccountancyTaskForce,ministryofCommerce&Industry
CS(Dr.)ShyamAgrawal,President
9. CorporateSecretariesInternationalAssociation(CSIA) CS(Dr.)ShyamAgrawal,PresidentCSAtulHMehtaPastPresident&CouncilMember
10. TheAssociatedChambersofCommerceandIndustryofIndia-Merger&AcquisitionCouncil
CSRanjeetKumarPandey,CouncilMemberCSMahavirLunawat,CouncilMember
11. TaskforcewithregardtotheplanbudgetoftheMCAforthe12thfiveyearplan
CS(Dr.)ShyamAgrawal,PresidentCSMakarandMLele,VicePresidentCSGopalakrishnaHedge,CouncilMember
12. CommitteetoidentifythetaxissuesarisingoutofconvergencebetweenthecompaniesAct,1956,IFRS,DTCandGSTandmattersrelatedthereto
CS(Dr.)ShyamAgrawal,President
13. TheNewIndiaMembershipDevelopmentCommitteeofINSOL,international
CS(Dr.)ShyamAgrawal,President
14. WorkingGroupconstitutedintheareaofCorporateGovernanceandCorporateSocialResponsibilityasperprovisionsofLOIsignedbetweenIndia-Netherlands
CS(Dr.)ShyamAgrawal,President
15. AdvisoryGrouptotheGRIfocalpointIndia CS(Dr.)ShyamAgrawal,President
16. IECofIndianbankAssociation CS(Dr.)ShyamAgrawal,President
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APPE
ND
IX –
BD
etai
ls o
f att
enda
nce
of M
embe
rs a
t the
Cou
ncil,
Sta
ndin
g /N
on- s
tand
ing
Com
mit
tee
and
Boar
ds M
eeti
ngs
Coun
cil/
Com
mit
tee
Coun
cil
Exec
utiv
e Co
mm
itte
eFi
nanc
e
Com
mit
tee
Exam
inat
ion
Com
mit
tee
Dis
cipl
inar
y Co
mm
itte
e
Fina
ncia
l Se
rvic
es
Com
mit
tee
Corp
orat
e La
ws
and
Gove
rnan
ce
Com
mit
tee
S. N
o.N
ame
Hel
dAt
tend
edH
eld
Atte
nded
Hel
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edH
eld
Atte
nded
Hel
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tend
edH
eld
Atte
nded
Hel
dAt
tend
ed1
Dr.Shyam
Agrawal
77
87
54
74
32
2Mr.MakarandMLele
77
22
54
11
3Mr.AtulHMehta
77
64
31
4Mr.AmardeepSinghBhatia
72
81
5Mr.AhaladaRaoV
77
22
54
1915
32
6Mr.AshishCDoshi
76
53
10
10
7Mr.AshishGarg
77
84
10
31
8Mr.CRamasubramaniam
77
65
76
11
42
9Mr.GopalKrishnaAgarwal
72
70
10Mr.GopalakrishnaHegde
77
10
42
11Mr.MahavirLunawat
75
60
11
11
12Ms.Mam
taBinani
77
87
33
66
1615
10
13Mr.RajivBajaj
76
52
11
14Mr.RajeshSharma
74
15Mr.RanjeetKum
arPandey
77
22
77
43
16Mr.SantoshKumarAgrawala
77
21
74
1913
10
17Mr.SatwinderSingh
76
11
18Mr.VineetK.Chaudhary
77
66
44
19Mr.VijayKum
arJhalani
76
20Mr.YamalAVyas
77
51
21Mr.DineshCArora
22Mr.NalinKohli
1918
23Ms.MeenakshiDattaGhosh
1919
24Mr.AnilMurarka
25Mr.AshokTyagi
26Mr.MilindBKasodekar
27Ms.SavithriParekh
28Mr.SudhirBabuC
29Ms.KiranOberoiVasudev
30Mr.VithayathilKurian
31Mr.IIamKam
boj
32Mr.NavneetChouhan
33Mr.AMBajaj
DatesofM
eetings
03.06.2016,
16.06.2016,
17.09.2016(Adj.)
17.09.2016,
20.11.2016,
18.01.2017,
19.01.2017,
27.03.2017
15.06.2016,
27.08.2016,
16.09.2016,
13.10.2016
20.11.2016,
17.01.2017,
18.02.2017,
22.03.2017
13.07.2016,
31.08.2016,
16.09.2016,
18.02.2017,
21.03.2017
7-8.04.2016,
23.06.2016,
09.08.2016,
30.09.2016
01.10.2016,
23.12.2016,
17.01.2017,
17.02.2017
08.07.2016,
09.07.2016,
29.07.2016,
26.08.2016,
27.08.2016,
19.09.2016,
07.10.2016
11.11.2016,
12.11.2016,
19.11.2016,
02.12.2016,
19.12.2016,
24.12.2016,
27.12.2016,
10.01.2017,
16.01.2017,
24.03.2017,
25.03.2017,
28.03.2017
20.02.2017
26.05.2016,
13.10.2016,
11.11.2016,
20.02.2017
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APPE
ND
IX –
BD
etai
ls o
f att
enda
nce
of M
embe
rs a
t the
Cou
ncil,
Sta
ndin
g /N
on- s
tand
ing
Com
mit
tee
and
Boar
ds M
eeti
ngs
Coun
cil/
Com
mit
tee
PDC
TEFC
PCSC
IT C
omm
itte
ePe
er R
evie
w
Boar
dPl
acem
ent
Com
mit
tee
PMQ
Cou
rse
Com
mit
tee
S. N
o.N
ame
Hel
dAt
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Atte
nded
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Atte
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Hel
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tend
edH
eld
Atte
nded
Hel
dAt
tend
ed1
Dr.Shyam
Agrawal
33
22
2Mr.MakarandMLele
20
11
3Mr.AtulHMehta
21
31
30
4Mr.AmardeepSinghBhatia
40
5Mr.AhaladaRaoV
33
33
22
6Mr.AshishCDoshi
20
33
11
22
7Mr.AshishGarg
31
22
20
22
41
8Mr.CRamasubramaniam
42
22
11
11
9Mr.GopalKrishnaAgarwal
40
10Mr.GopalakrishnaHegde
20
10
20
10
31
11Mr.MahavirLunawat
41
20
21
11
12Ms.Mam
taBinani
22
11
13Mr.RajivBajaj
22
31
20
21
11
14Mr.RajeshSharma
20
10
15Mr.RanjeetKum
arPandey
43
32
21
44
16Mr.SantoshKumarAgrawala
32
33
10
17Mr.SatwinderSingh
20
11
11
21
21
43
18Mr.VineetK.Chaudhary
22
11
33
22
11
19Mr.VijayKum
arJhalani
11
20Mr.YamalAVyas
20
21Mr.DineshCArora
22Mr.NalinKohli
23Ms.MeenakshiDattaGhosh
24Mr.AnilMurarka
22
25Mr.AshokTyagi
22
26Mr.MilindBKasodekar
21
27Ms.SavithriParekh
20
28Mr.SudhirBabuC
22
29Ms.KiranOberoiVasudev
30Mr.VithayathilKurian
31Mr.IlamKam
boj
32Mr.NavneetChouhan
33Mr.AMBajaj
DatesofM
eetings
15.06.2016,
15.09.2016
04.06.2016,
26.08.2016,
05.01.2017,
21.03.2017
26.05.2016,
11.08.2016,
19.01.2017
23.12.2016,
27.02.2017
12.05.2016,
24.09.2016
21.07.2016,
04.03.2017
18.05.2016,
26.08.2016,
12.01.2017,
20.02.2017
37th
AnnualRe p o r t2016-17
27
APPE
ND
IX –
BD
etai
ls o
f att
enda
nce
of M
embe
rs a
t the
Cou
ncil,
Sta
ndin
g /N
on- s
tand
ing
Com
mit
tee
and
Boar
ds M
eeti
ngs
Coun
cil/
Com
mit
tee
Boar
d of
D
isci
plin
e
Secr
etar
ial
Stan
dard
s Bo
ard
Edito
rial
Ad
viso
ry B
oard
ICSI
-CCG
RT
Mgm
t. Co
mm
itte
e
Regu
lati
ons
and
Chap
ter
Guid
elin
es
Refo
rms
Com
mit
tee
Elec
tion
Re
form
s Co
mm
itte
e
Qua
lity
Revi
ew
Boar
d Au
diti
ng
Stan
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s Boa
rd Br
and
Prom
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S. N
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ame
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nded
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tend
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Atte
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Hel
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tend
ed1
Dr.Shyam
Agrawal
11
2Mr.MakarandMLele
10
11
21
3Mr.AtulHMehta
21
10
22
4Mr.AmardeepSinghBhatia
5Mr.AhaladaRaoV
33
11
11
10
6Mr.AshishCDoshi
44
11
10
7Mr.AshishGarg
21
8Mr.CRamasubramaniam
44
21
22
21
10
9Mr.GopalKrishnaAgarwal
10Mr.GopalakrishnaHegde
21
21
11Mr.MahavirLunawat
10
10
12Ms.Mam
taBinani
20
13Mr.RajivBajaj
11
14Mr.RajeshSharma
10
15Mr.RanjeetKum
arPandey
33
11
11
16Mr.SantoshKumar
Agrawala
11
10
21
17Mr.SatwinderSingh
20
22
18Mr.VineetK.Chaudhary
11
22
22
21
11
19Mr.VijayKum
arJhalani
20Mr.YamalAVyas
21Mr.DineshCArora
43
22Mr.NalinKohli
23Ms.MeenakshiDattaGhosh
24Mr.AnilMurarka
25Mr.AshokTyagi
26Mr.MilindBKasodekar
27Ms.SavitriParekh
28Mr.SudhirBabuC
29Ms.KiranOberoiVasudev
22
30Mr.VithayathilKurian
11
31Mr.IIamKam
boj
22
32Mr.NavneetChouhan
22
33Mr.AMBajaj
10
DatesofM
eetings
13.10.2016,
23.12.2016,
11.01.2017,
27.02.2017
23-24.07.2016,
15-16.10.2016,
06-07.01.2017
03.12.2016
11.06.2016,
05.03.2017
30.08.2016
29.12.2016,
27.02.2017
14.06.2016,
03.11.2016
01.07.2016,
02-03.12.2016
01.06.2016
16.09.2016(Adj.)
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APPENDIX – CLIST OF CITIES FOR EXAMINATION DURING THE YEAR 2016-2017
Sl. No. Examination City Sl. No. Examination City Sl. No. Examination City1 AGRA 41 GUWAHATI 81 PANIPAT2 AHMEDABAD 42 GWALIOR 82 PATNA3 AHMEDNAGAR 43 HISAR 83 PIMPRI-CHINCHWAD4 AJMER 44 HOOGHLY 84 PUDUCHERRY5 AKOLA 45 HOWRAH 85 PUNE6 ALLAHABAD 46 HUBLI-DHARWAD 86 RAIPUR7 ALWAR 47 HYDERABAD 87 RAJKOT8 AMBALA 48 INDORE 88 RANCHI9 AMRAVATI 49 JABALPUR 89 ROURKELA10 AURANGABAD 50 JAIPUR 90 SAGAR11 BANGALORE 51 JALGAON 91 SALEM12 BAREILLY 52 JALLANDHAR 92 SATARA13 BEAWER 53 JAMMU 93 SHIMLA14 BELGAUM 54 JAMNAGAR 94 SIKAR15 BHAYANDER 55 JAMSHEDPUR 95 SILIGURI16 BHILAI 56 JHANSI 96 SONEPAT17 BHILWARA 57 JHUNJHUNU 97 SRINAGAR18 BHOPAL 58 JODHPUR 98 SURAT19 BHUBANESWAR 59 KANPUR 99 THANE20 BIKANER 60 KOLHAPUR 100 THIRUVANANTHAPURAM21 BILASPUR 61 KOLKATA(NORTH) 101 THRISSUR22 CALICUT 62 KOLKATA(SOUTH) 102 TIRUCHIRAPALLI23 CHANDIGARH 63 KOTA 103 UDAIPUR24 CHENNAI 64 KOTTAYAM 104 UJJAIN25 CHITTORGARH 65 LUCKNOW 105 VADODARA26 COIMBATORE 66 LUDHIANA 106 VARANASI27 DEHRADUN 67 MADURAI 107 VIJAYAWADA28 DELHI(EAST) 68 MANGALORE 108 VISAKHAPATNAM29 DELHI(NORTH) 69 MEERUT 109 YAMUNANAGAR30 DELHI(SOUTH) 70 MUMBAI-I(CG) 110 PATIALA*31 DELHI(WEST) 71 MUMBAI-II(GTK) 111 ROHTAK*32 DHANBAD 72 MUMBAI-III(JOG.) 112 TUMKUR*33 DUBAI 73 MUZAFFARNAGAR 113 ASANSOL*34 ERNAKULAM 74 MYSORE 114 DURGAPUR*35 FARIDABAD 75 NAGPUR 115 SURENDRANAGAR*36 GANDHINAGAR 76 NASHIK37 GHAZIABAD 77 NAVIMUMBAI38 GORAKHPUR 78 NOIDA39 GUNTUR-AMARAVATI 79 PALI40 GURGAON 80 PANAJI
*FoundationProgrammeExaminationonly
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29
APPENDIX – DSTATISTICS ON EXAMINATION RESULTS JUNE, 2016 SESSION
STAGE OF EXAMINATION NUMBER OF CANDIDATESENROLLED APPEARED PASSED
FOUNDATIONPROGRAMME 15696 14727 9707EXECUTIVE PROGRAMME *
MODULE-I 45451 34909 3329MODULE-II 37726 28946 3713
PROFESSIONAL PROGRAMME (O/S)$MODULE-I 6234 4601 1445MODULE-II 9805 7808 2234MODULE-III 12389 10058 4568MODULE-IV 8064 6320 1617
PROFESSIONAL PROGRAMME (N/S)#MODULE-I 15261 12208 2138MODULE-II 11837 9034 1559MODULE-III 12800 10239 2262
* 21559 Candidates enrolled,17965 Candidates appeared forBothModules of Executive Programme out ofwhom677candidatespassedBothModules.
$ 1267Candidatesenrolled,1004CandidatesappearedforAllModulesofProfessionalProgramme(OldSyllabus)outofwhom25candidatespassedAllModules.
# 5023Candidatesenrolled,4508CandidatesappearedforAllModulesofProfessionalProgramme(NewSyllabus)outofwhom229candidatespassedAllModules.
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APPENDIX – DSTATISTICS ON EXAMINATION RESULTS DECEMBER, 2016 SESSION
STAGE OF EXAMINATION NUMBER OF CANDIDATESENROLLED APPEARED PASSED
FOUNDATIONPROGRAMME 13701 12786 8465EXECUTIVE PROGRAMME *
MODULE-I 43690 32822 3617MODULE-II 35337 25944 3494
PROFESSIONAL PROGRAMME #MODULE-I 25026 19269 4076MODULE-II 20770 15453 3365MODULE-III 20212 15656 3197
* 20755 Candidates enrolled,16982 Candidates appeared forBothModules of Executive Programme out ofwhom817candidatespassedBothModules.
# 8776Candidatesenrolled,7581CandidatesappearedforAllModulesofProfessionalProgrammeoutofwhom310candidatespassedAllModules.
APPENDIX – EPOST MEMBERSHIP QUALIFICATION (PMQ) EXAMINATIONS RESULTS
JUNE, 2016 SESSION
NAME OF PMQ COURSE NUMBER OF CANDIDATESENROLLED APPEARED PASSED
CorporateGovernance(Part-I) 8 7 4CorporateRestructuringandInsolvency(Module-A)
3 1 0
CompetitionLaw(Part-I) 1 1 1
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CA Bansal Sinha & Co.CharteredAccountants
INDEPENDENT AUDITOR’S REPORTTO THE MEMBERS OF COUNCIL OF
THE INSTITUTE OF COMPANY SECRETARIES OF INDIA
Report on the Consolidated Financial Statements Wehave audited the accompanying Consolidated Financial Statements ofThe Institute of Company Secretaries of India(“TheInstitute”)whichcomprisetheConsolidatedBalanceSheetasat31stMarch2017,theConsolidatedIncome&ExpenditureAccount,theConsolidatedCashFlowStatementfortheyearthenended,andasummaryofsignificantaccountingpoliciesandotherexplanatoryinformation(hereinafterreferredtoas“theConsolidatedFinancialStatements”)inwhichareincorporatedaudited accounts ofHeadQuarter of Institute, Institute’sCentre forCorporateGovernanceResearch andTraining (CCGRT),Four Regional Offices and 69 Chapters. The Accounts of the Institute’s Centre for Corporate Governance Research andTraining(CCGRT),FourRegionalOfficesand69Chapterswhosefinancialstatementsreflecttotalassetsof`53.29Croresasat31stMarch2017,totalrevenuesof`23.25Croresandnetcashinflowsamountingto 1.08Croresfortheyearendedonthatdate,asconsideredintheconsolidatedfinancialstatementshavebeenauditedbyotherAuditorsexceptfinancialstatementofonenewlyopenedAmravatichapterwhichhasbeencertifiedbythemanagementandtheirreportshavebeenincorporatedanddulyconsideredwhilepreparingourreport.
Management Responsibility for the Financial Statements TheInstituteManagementisresponsibleforthepreparationoftheseconsolidatedfinancialstatementsinaccordancewiththeCompanySecretariesAct,1980(“theAct”) thatgivea trueand fairviewof theconsolidated financialposition,consolidatedfinancial performance and consolidated cash flows of the Institute in accordance with the accounting principles generallyacceptedinIndia.ThisresponsibilityincludesmaintenanceofadequateaccountingrecordsforsafeguardingtheassetsoftheInstituteandforpreventinganddetectingfraudsandotherirregularities;theselectionandapplicationofappropriateaccountingpolicies;makingjudgmentsandestimatesthatarereasonableandprudent;andthedesign,implementationandmaintenanceofinternalcontrol,thatwereoperatingeffectivelyforensuringtheaccuracyandcompletenessoftheaccountingrecords,relevanttothepreparationandfairpresentationofthefinancialstatementsthatgiveatrueandfairviewandarefreefrommaterialmisstatement,whetherduetofraudorerror.
Auditors’ Responsibility Ourresponsibilityistoexpressanopinionontheseconsolidatedfinancialstatementsbasedonouraudit.WeconductedourauditinaccordancewiththeStandardsonAuditingissuedbytheInstituteofCharteredAccountantsofIndia.ThoseStandardsrequirethatwecomplywithethicalrequirementsandplanandperformtheaudittoobtainreasonableassuranceaboutwhetherthefinancialstatementsarefreefrommaterialmisstatement.
An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the consolidatedfinancial statements. The procedures selected depend on the auditor’s judgment, including the assessment of the risks ofmaterialmisstatementofthefinancialstatements,whetherduetofraudorerror.Inmakingthoseriskassessments,theauditorconsidersinternalcontrolrelevanttotheInstitute’spreparationandfairpresentationofthefinancialstatementsinordertodesignauditprocedures thatareappropriate in thecircumstancesbutnot for thepurposeofexpressinganopinionon theeffectivenessoftheInstitute’sinternalcontrol.Anauditalsoincludesevaluatingtheappropriatenessofaccountingpoliciesusedandthereasonablenessoftheaccountingestimatesmadebymanagement,aswellasevaluatingtheoverallpresentationofthefinancialstatements.
18/19,OldRajinderNagar,NewDelhi-110060Ph.No.:011-25722270,25853424
E-mail:[email protected]:www.bansalsinha.com
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Webelievethattheauditevidencewehaveobtainedissufficientandappropriatetoprovideabasisforourauditopinionontheconsolidatedfinancialstatements.
Auditors’ OpinionSubjecttomattersasreportedhereinafter,wereportthatinouropinionandtothebestofourinformationandaccordingtotheexplanationsgiventousandreadwithothernotesonaccountsandmattersdescribedintheemphasisofmatterbelow,theaforesaidconsolidatedfinancialstatementsgivetheinformationrequiredbytheCompanySecretariesAct.,1980inthemannersorequiredandgiveatrueandfairviewinconformitywiththeaccountingprinciplesgenerallyacceptedinIndia:
i. inthecaseoftheBalanceSheet,ofthestateofaffairsoftheICSIasat31stMarch2017;ii. inthecaseofIncomeandExpenditureAccount,oftheSurplusoftheICSIfortheyearendedonthatdate.iii. inthecaseoftheCashFlowStatement,oftheCashFlowfortheyearendedonthatdate.
Emphasis of Mattera) Refertonoteno.10ofNote21(B)NotesonAccountsregardingStandaloneFinancialStatementsofWIRO.b) ReferNoteNo.6ofNote21(B)w.r.t.balanceofvariouspartiesandInterUnitbalancesofHQ/RC/chaptersaresubjectto
Reconciliationandtheirconfirmations.
Report on Other Legal and Regulatory RequirementsFurthersubjecttomattersunderaboveparawereportthat:-
a. wehaveobtainedalltheinformationandexplanationswhichtothebestofourknowledgeandbeliefwerenecessaryforthepurposeofouraudit;
b. the Balance Sheet, the Income and Expenditure Account and Cash Flow Statement dealt with by this Report are inagreementwiththebooksofaccount;
c. inouropinionproperbooksofaccountsaremaintainedinconformitywithrequirementoftheCompanySecretariesAct,1980byalltheunitssubjecttoobservationsasstatedinnoteno.10ofNote21(B)NotesonAccountsregardingWIRO;
d. we have received the audited accounts of Centre for Corporate Governance Research and Training (CCGRT) andconsolidatedauditedaccountsofFourRegionalCouncilsandthesamehavebeendealtwithbyusinourreport;
e. in our opinion, the Balance Sheet, the Income and Expenditure Account and Cash Flow Statement comply with theapplicableAccountingStandardsissuedbyInstituteofCharteredAccountantsofIndia;
f. The Institute did not have any long-term contracts including derivative contracts forwhich therewere anymaterialforeseeablelosses.
ForBANSALSINHA&CO.
CHARTEREDACCOUNTANTS
PLACE:NewDelhi FRNWithICAI006184N
DATE:26thSeptember,2017
(NishantChaudhary)Partner
M.No.513802
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THE INSTITUTE OF COMPANY SECRETARIES OF INDIA BALANCE SHEET AS AT 31st MARCH,2017
(Amount in `)PARTICULARS NOTE NO. As at 31st March 2017 As at 31st March 2016I. SOURCES AND LIABILITIES
(1) Reserves&Surplus (a) Reserve&Surplus 1 5,82,53,92,033 4,97,20,29,352(b) EarmarkedFunds 2 1,54,49,57,510 1,75,41,91,943
Sub-Total(1) 7,37,03,49,543 6,72,62,21,295(2) Non-CurrentLiabilities
(a) LongTermBorrowings - -(b) LongTermLiabilities - -(c) LongTermProvisions - -
Sub-Total(2) - -(3) CurrentLiabilities
(a) ShortTermBorrowings - -(b) SundryCreditors 3 16,01,25,824 12,78,37,567(c) OtherCurrentLiabilities 4 21,87,03,740 24,39,69,517(d) ShorttermProvisions 5 1,06,63,520 5,79,52,677
Sub-Total(3) 38,94,93,084 42,97,59,761TOTAL (1) + (2) + (3) 7,75,98,42,627 7,15,59,81,056
II. ASSETS (1) Non-currentAssets
(a) FixedAssets 6(i) TangibleAssets 94,53,95,551 78,20,06,434(ii) IntangibleAsssets 25,68,178 25,88,022(iii) CapitalWorkinProgress 27,91,02,329 8,28,61,271(iv) IntangibleAssetsunderdevelopment - 8,331
Sub-Total(a) 1,22,70,66,058 86,74,64,058(b) Non-currentInvestments 7 4,72,15,89,596 4,25,84,45,153(c) LongTermLoanandAdvances 11,66,232 1,59,35,858(d) OtherNon-CurrentAssets 85,32,600 2,09,63,198
Sub-Total(1) 5,95,83,54,486 5,16,28,08,267(2) CurrentAssets
(a) CurrentInvestments 8 75,72,90,737 1,14,73,00,776(b) Inventories 9 34,83,814 63,99,681(c) SundryDebtors 10 45,67,818 1,07,58,875(d) CashandCashEquivalents 11 17,01,51,904 13,09,31,272(e) ShorttermsLoansandAdvances 12 8,69,05,709 8,96,64,551(f) OthercurrentAssets 13 77,90,88,159 60,81,17,634
SUB-TOTAL(2) 1,80,14,88,141 1,99,31,72,789TOTAL (1) + (2) 7,75,98,42,627 7,15,59,81,056
ACCOUNTINGPOLICIESANDOTHERNOTESTOTHEACCOUNTS 21 - -NotesreferredtoaboveformanintegralpartoftheBalanceSheet.Asperourreportofevendate. For and on behalf of the CouncilForBANSAL SINHA & CO.CharteredAccountants CA Sameer Gupta CS Dinesh C Arora FRN:006184N JointSecretary(F&A) Secretary
(NishantChaudhary) CS Makarand Lele CS (Dr.) Shyam AgrawalPartner VicePresident PresidentMembershipNo.513802Place:NewDelhiDate:26thSeptember,2017
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THE INSTITUTE OF COMPANY SECRETARIES OF INDIA INCOME & EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31st MARCH 2017
(Amount in `)
PARTICULARS Note No. For the year ended 31st March 2017 31st March 2016
INCOME IncomefromActivities 14 1,27,17,12,859 1,38,74,09,712IncomeFromInvestments 15 52,03,91,338 52,99,23,307OtherIncome 16 2,55,85,301 5,47,28,160
TOTAL INCOME 1,81,76,89,498 1,97,20,61,179 EXPENDITUREEmployeeBenefitExpense 17 37,86,80,455 31,25,42,779StudyMaterial&Others/OralEductionExpense 6,72,98,412 6,03,07,733PublicationsExpense 97,51,806 92,80,048ExaminationsExpense 18 16,19,58,173 19,10,17,899TravellingandConveyanceExpense 2,54,65,241 2,71,75,941Programmes/SeminarsExpense 15,28,21,727 12,74,41,287CareerAwarenessandPromotionExpense 4,90,98,681 4,28,34,093Depreciation&Amortization 5,27,52,748 4,20,21,900OtherExpenses 19 25,30,24,563 22,69,44,909ScientificResearchActivities 20 2,69,79,334 2,07,10,270
TOTAL EXPENDITURE 1,17,78,31,140 1,06,02,76,859 Surplus before extra ordinary & exceptional items 63,98,58,358 91,17,84,320
SurplusonDisposalofAssets 13,367 15,641LossonSale/Disposal/Write-offofAssets (7,07,587) (3,10,104)Prior-periodexpenses(net) (91,25,243) (48,12,223)
Surplus after extra ordinary & exceptional items 63,00,38,895 90,66,77,634 AppropriationtoFunds/Reserves: (i) InterestApportionedtoEarmarkedFunds 12,61,12,693 10,15,04,049(ii) PerformanceRelatedIncentiveFund 77,21,000 75,00,000(iii) InfrastructureFund 1,00,00,000 25,00,00,000(iv) BuildingReserveandSpecificReserve 10,15,500 10,00,000
TOTAL APPROPRIATIONS 14,48,49,193 36,00,04,049 BalancetransferredtoGeneralReserve 48,51,89,702 54,66,73,585
TOTAL 63,00,38,895 90,66,77,634 ACCOUNTINGPOLICIESANDOTHERNOTESTOTHEACCOUNTS 21 NotesreferredtoaboveformanintegralpartoftheIncome&ExpenditureA/cAsperourreportofevendateannexed. For and on behalf of the CouncilForBANSAL SINHA & CO.CharteredAccountants CA Sameer Gupta CS Dinesh C Arora FRN:006184N JointSecretary(F&A) Secretary
(NishantChaudhary) CS Makarand Lele CS (Dr.) Shyam AgrawalPartner VicePresident PresidentMembershipNo.513802Place:NewDelhiDate:26thSeptember,2017
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THE INSTITUTE OF COMPANY SECRETARIES OF INDIA CASH FLOW STATEMENT FOR THE YEAR ENDED 31st MARCH 2017
(Amount in `)2016-17 20115-16
Cash flow from operating activity Surplus as per Income and Expenditure Account 63,00,38,895 90,66,77,634 Add:DepreciationonFixedAssets 5,65,80,221 4,45,57,600
:DepreciationonbooksincludinginPriorPeriodExpenses - 5,75,973:LossonSaleofAssets 7,07,587 3,10,104
Cash flow from operation after adjustment for non cash expenses 68,73,26,703 95,21,21,311 Less:InterestOnInvestment 51,08,60,338 51,44,72,917
IncentiveonInvestment 95,31,000 1,54,50,390SurplusonDisposalofAssets 13,367 52,04,04,705 15,641 52,99,38,948
Operating Surplus before Working Capital and Funds Changes 16,69,21,998 42,21,82,363 Increase /(Decrease) in Current Assets and Current Liabilities and Earmarked Fund Balances
(Increase)/DecreaseinInventory 29,15,867 (5,13,175)(Increase)/DecreaseinSundryDebtors 61,91,057 3,36,15,725(Increase)/DecreaseinShortTermLoans&Advances 27,58,842 (2,11,96,637)(Increase)/DecreaseinOtherCurrentAssets (17,09,70,525) 6,97,82,180(Increase)/DecreaseinGR/Contribution/UtilisationtoRC/Chapters 35,48,668 (3,41,97,819)Increase/(Decrease)inSundryCreditors 3,22,88,257 3,13,73,772Increase/(Decrease)inOtherCurrentLiabilities (2,52,65,777) (4,99,95,133)Increase/(Decrease)inShortTermProvisions (4,72,89,157) 5,04,035Receipts(Utilisation)inAwardforCorporateGovernanceFunds(Net) (10,41,847) (14,85,544)Receipts(Utilisation)StaffTrainingFund (9,22,560) (7,05,377)Receipts(Utilisation)LeaveEncashmentFund (86,35,059) (1,11,22,001)ReceiptsasContributionforLeaveEncashmentFund 17,49,279 12,252Receipts(Utilisation)EndowmentPrizeAwardFund(Net) (1,32,612) (1,90,782)Receipts(Utilisation)ProfessionalDevelopmentFund (8,28,967) (30,65,292)Receipts(Utilisation)PerformanceRelatedIncentiveFund (77,24,915) (74,35,266)Receipts(Utilisation)InfrastructureFund (12,00,134) (21,45,59,583) 46,81,827 1,00,62,765
Net cash generated from operating activity. (4,76,37,585) 43,22,45,128
Cash flow from Investing Activity InterestonInvestments 51,08,60,338 51,44,72,917IncentiveonInvestment 95,31,000 1,54,50,390SaleProceedsofRedumptionofInvestments/MutualFunds 1,44,34,27,866 2,15,53,72,021AcquisitionofInvestments/MutualFundUnits (1,51,65,62,270) (2,81,72,13,304)Decrease/(Increase)inLongTermLoans&Advances 1,47,69,626 (1,58,58,400)Decrease/(Increase)inOtherNonCurrentAssets 1,24,30,598 (1,60,57,127)SaleProceedsofFixedAssets 1,58,061 1,80,278PurchaseofFixedAssets (31,41,73,206) (24,23,08,831)AdditioninCWIP (10,28,69,627) (1,57,94,580)
Net Cash used in Investing Activity 5,75,72,386 (42,17,56,636)Cash flow from Financing Activity
Increase/(Decrease)inInfrastructureReserve(Net) 3,56,581 (59,931)AdditioninGeneralReserveandCorpusDonations 1,60,812 3,22,107Increase/(Decrease)inRenovationReserve(Net) - (54,19,000)Increase/(Decrease)inLibraryReserve(Net) 1,97,546 2,18,097Increase/(Decrease)inBuildingReserve(Net) 1,71,79,702 8,81,009Increase/(Decrease)inOtherReserveandFunds(Net) (5,04,665) 14,00,634Increase/(Decrease)inCapitalReserveEntranceFeesfromMembers 1,18,87,524 1,05,90,500
Net cash generated from Financing Activities. 2,92,77,500 79,33,416 Net Cash Flow for the Year ended as on 31st March 2017 (A) 3,92,12,301 1,84,21,908 Cash and cash equivalent at the beginning of the year (B) 13,09,31,272 11,25,09,364 Cash and cash equivalent at the end of the year 17,01,43,573 13,09,31,272 Note: 1. TheaboveCashFlowStatementhasbeenderivedusingtheIndirectmethodprescribedinAS-3.2 EnclosedNotes1to20formanintergralpartoftheCashFlowStatement. 3 Cashandcashequivalentsinclude:a Cash,Cheques/Drafts/PostalOrders&PostageStamps/Frankingunits. 13,29,529b BalanceswithScheduledBanks 16,88,22,375 -InSavingsBankaccounts(inclTermdeposits)
17,01,51,904For and on behalf of the Council Members
Asperourreportofevendate.ForBANSAL SINHA & CO.CharteredAccountants CA Sameer Gupta CS Dinesh C Arora FRN:006184N JointSecretary(F&A) Secretary
(NishantChaudhary) CS Makarand Lele CS (Dr.) Shyam AgrawalPartner VicePresident PresidentMembershipNo.513802Place:NewDelhiDate:26thSeptember,2017
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RESERVES & SURPLUS NOTE - 1
(Amount in ` )PARTICULARS As at 31st March 2017 As at 31st March 2016 (1) CAPITAL RESERVE AsperlastBalanceSheet 5,07,89,173 4,01,98,673Add:EntranceFeesfromMembers -AssociateMembers 1,10,75,649 97,66,500 -FellowMembers 8,11,875 1,18,87,524 8,24,000 1,05,90,500
Sub-Total (1) 6,26,76,697 5,07,89,173 (2) GENERAL RESERVE AsperlastBalanceSheet 4,76,59,43,225 4,16,65,48,449Add:Additionsduringtheyear 1,51,499 2,38,925Add:Corpusdonation 9,313 83,182Add:TransferfromInfrastructureFund 33,43,31,311 19,79,69,768Add:TransferfromContribution/Reserves 10,98,03,272 2,81,86,563Add/(Less):Adjustment/TransfertoOtherReserve (4,29,93,211) (12,35,19,378)Less:Utilisationduringtheyear (15,54,266) (2,87,74,221)Less:BuildingLoanwrittenoff(B'loreChap) - (2,14,63,648)
5,16,56,91,143 4,21,92,69,640Surplus(ExcessofIncomeoverExpediture) 48,51,89,702 54,66,73,585
Sub-Total (2) 5,65,08,80,845 4,76,59,43,225 (3) Library Reserve AsperlastBalanceSheet 23,37,982 21,19,885Add:Donation 1,55,501 37,482Add:TransferfromReserve 20,646 1,58,408Add:Interest 21,399 22,207
Sub-Total (3) 25,35,528 23,37,982 (4) Building Reserve AsperlastBalanceSheet 12,92,38,413 11,67,25,140Add:Donation 20,00,000 5,10,000Add:TransferfromReserve 2,43,52,274 1,06,32,264Add:TransferfromContribution - 17,72,124Add:Interest - 1,38,070Add:TransferfromI&EAccount 10,00,000 10,00,000Less:Utilisationduringtheyear (91,72,572) (15,39,185)
Sub-Total (4) 14,74,18,115 12,92,38,413 (5) Renovation Reserve AsperlastBalanceSheet - 54,19,000Add:Additionsduringtheyear - -Less:Utilisationduringtheyear - (54,19,000)
Sub-Total (5) - - (6) Infrastructure Reserve AsperlastBalanceSheet 3,23,24,565 3,23,84,496Add:Additionsduringtheyear 3,56,581 35,000Les:Utilisationduringtheyear - (94,931)
Sub-Total (6) 3,26,81,146 3,23,24,565
(7) Other Reserve AsperlastBalanceSheet 84,73,729 83,17,765Add:Additionsduringtheyear 1,09,285 14,05,733Add:Donations - 10,811Add:Transferfrom/(to)Reserve 14,263 (12,49,644)Add:Interest 81,900 91,175Add:TransferfromI&EA/c - 12,974Less:TransfertoInfrastructureReserve - (8,000)Less:Utilisationduringtheyear (7,10,113) (1,07,085)
Sub-Total (7) 79,69,064 84,73,729 (8) CONTRIBUTION TO / FROM TOWARDS L/BLDG /OTHER ASSETS Add:Contrib.fromRC/ChaptowardsAssets 6,92,07,302 13,19,62,043Less:Contrib.toRC/Chapterstowardsassets (14,79,76,663) (14,90,39,778)
Sub-Total (8) (7,87,69,361) (1,70,77,735) Total : (1 to 8) 5,82,53,92,033 4,97,20,29,352
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EARMARKED FUND NOTE - 2
(Amount in ` )
PARTICULARS
ICSI NATIONAL AWARD FOR EXCELLENCE IN CORPORATE
GOVERNANCE FUNDSTAFF TRAINING FUND LEAVE ENCASHMENT FUND ENDOWMENT FOR PRIZE
AWARD FUND
2016-17 2015-16 2016-17 2015-16 2016-17 2015-16 2016-17 2015-16AsperlastBalanceSheet 13,10,28,540 12,27,53,246 1,18,90,951 1,18,49,204 9,03,89,783 9,41,99,102 68,74,031 65,95,122Add:Contributionduringtheyear - - - - 17,49,279 12,252 - 2,05,323TransferfromGenReserve - - - - - - - -Add:Receiptsduringtheyear - - - - - - 1,05,400 75,826Add:Interestallocation 1,04,40,609 97,60,838 9,14,374 7,47,124 68,85,780 73,00,430 4,62,402 4,69,691
Sub-Total 14,14,69,149 13,25,14,084 1,28,05,325 1,25,96,328 9,90,24,842 10,15,11,784 74,41,833 73,45,962 Less:TransfertoGRonutilisation - - - - - - - 2,67,141Less:Utilisedduringtheyear 10,41,847 14,85,544 9,22,560 7,05,377 86,35,059 1,11,22,001 2,38,012 2,04,790Balance as at the close of the year 14,04,27,302 13,10,28,540 1,18,82,765 1,18,90,951 9,03,89,783 9,03,89,783 72,03,821 68,74,031
SUNDRY CREDITORS NOTE - 3
(Amount in ` )PARTICULARS As at 31st March 2017 As at 31st March 2016Sundry Creditors
ForGoods&Services 13,35,24,589 12,65,38,866Others
Min.OfCorpAffairs 3,21,193 3,21,193RD(North/South/West/East) 11,80,870 2,54,792OtherPayables 41,43,855 7,22,716InterUnitBalances 2,09,55,317 -
Total: 16,01,25,824 12,78,37,567
PARTICULARSPERFORMANCE-RELATED
INCENTIVE FUND INFRASTRUCTURE FUND PROFESSIONAL DEVELOPMENT FUND TOTAL AMOUNT
2016-17 2015-16 2016-17 2015-16 2016-17 2015-16 2016-17 2015-16AsperlastBalanceSheet 67,80,211 62,15,637 1,45,21,27,479 1,31,67,75,534 5,51,00,948 5,40,80,000 1,75,41,91,943 1,61,24,67,845Add:Contributionduringtheyear 77,21,000 75,00,000 1,00,00,000 25,83,23,000 - - 1,94,70,279 26,60,40,575TransferfromGenReserve - - - - - - - -Add:Receiptsduringtheyear - - - - - - 1,05,400 75,826Add:Interestallocation 5,42,260 4,99,840 10,24,92,351 7,86,39,886 43,74,917 40,86,240 12,61,12,693 10,15,04,049
Sub-Total 1,50,43,471 1,42,15,477 1,56,46,19,830 1,65,37,38,420 5,94,75,865 5,81,66,240 1,89,98,80,315 1,98,00,88,295 Less:TransfertoGRonutilisation - - - 36,41,173 - - - 39,08,314Less:Utilisedduringtheyear 77,24,915 74,35,266 12,00,134 - 8,28,967 30,65,292 2,05,91,494 2,40,18,270Less:OnacquisitionofLand&Bldg 33,43,31,311 19,79,69,768 33,43,31,311 19,79,69,768Balance as at the close of the year 73,18,556 67,80,211 1,22,90,88,385 1,45,21,27,479 5,86,46,898 5,51,00,948 1,54,49,57,510 1,75,41,91,943
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OTHER CURRENT LIABILITIES NOTE - 4
(Amount in ` )PARTICULARS As at 31st March 2017 As at 31st March 2016Other Current Liabilities
FeeReceivedinadvancefromMembers&Students 18,39,70,343 21,79,04,925PayabletoTrusts/Funds 2,61,14,622 1,43,95,019SecurityDeposits 30,20,052 27,53,189PropertyTax 7,98,098 5,25,428TDSPayable 5,50,958 21,34,387OtherPayables 42,49,667 62,44,777ServiceTaxPayable - 11,792
Total: 21,87,03,740 24,39,69,517
SHORT TERM PROVISIONS NOTE - 5
(Amount in ` )PARTICULARS As at 31st March 2017 As at 31st March 2016Short Term Provisions
ProvisionsforExpenses 1,06,63,520 5,79,52,677
Total: 1,06,63,520 5,79,52,677
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FIXED ASSETS NOTE - 6
(Amount in ` )
Items
Gross Block Depreciation / Impairment Net BlockCost as on
1.4.2016
Additions Adjustment/Transfer/Sale
Total cost as on
31.3.2017
Total as on
1.4.2016
For the Year
Adjustment/Transfer/
Sale
Total as on
31.3.2017
as on 31.3.2017
as on 31.3.2016
(i) Tangible AssetsLand**-Freehold 15,92,38,623 - 32,94,922 15,59,43,701$ - - - - 15,59,43,701 15,92,38,623-Leasehold 74,05,389 29,50,45,413 - 30,24,50,802 24,28,687 39,20,701 - 63,49,388 29,61,01,414 49,76,702Buildings 63,34,27,065 4,95,89,370* 18,34,66,671 49,95,49,764# 12,41,49,697 2,56,73,786 - 14,98,23,483 34,97,26,281 50,92,76,976Furniture&Fixtures 9,08,91,522 2,10,60,785 1,14,362 11,18,37,945 4,48,42,940 53,39,657 58,650 5,01,23,947 6,17,13,998 4,60,48,582ComputerPeripherals 8,41,45,668 1,13,33,073 20,11,374 9,34,67,367 5,81,15,665 1,25,83,190 14,34,515 6,92,64,340 2,42,03,027 2,60,30,003CoolingEquipment 2,17,79,622 1,57,07,445 1,63,910 3,73,23,157 1,19,87,301 18,54,744 1,53,155 1,36,88,890 2,36,34,267 97,92,321ElectricalEquipment 3,50,80,796 10,13,128 1,02,493 3,59,91,431 2,25,94,169 19,85,364 24,812 2,45,54,721 1,14,36,710 1,24,86,627OfficeMachinesand CommunicationEquipment
2,99,41,213 1,00,30,114 3,88,299 3,95,83,028 1,85,00,425 22,54,845 2,70,685 2,04,84,585 1,90,98,443 1,14,40,788
OtherEquipment 70,14,615 4,85,329 19,735 74,80,209 44,63,483 4,44,851 14,902 48,93,432 25,86,777 25,51,132LibraryBooks 48,46,096 4,68,094 - 53,14,190 48,38,545 4,68,094 - 53,06,639 7,551 7,551Vehicles 7,89,900 8,31,542 - 16,21,442 6,32,773 45,284 - 6,78,057 9,43,385 1,57,127Current Year Total (i) 1,07,45,60,509 40,55,64,293 18,95,61,766 1,29,05,63,036 29,25,53,685 5,45,70,516 19,56,719 34,51,67,482 94,53,95,551 78,20,06,434 Previous Year Total (i) 83,56,66,638 24,04,25,791 22,01,030 1,07,38,91,399 25,11,06,148 4,15,27,328 9,61,213 29,16,72,263 78,22,19,130 58,45,60,490
(ii) Intangible Assets - ERPSoftware 2,03,86,691 19,99,075 5,023 2,23,80,743 1,77,98,679 20,09,704 (4,182) 1,98,12,565 25,68,178 25,88,022Current Year Total (ii) 2,03,86,691 19,99,075 5,023 2,23,80,743 1,77,98,679 20,09,704 (4,182) 1,98,12,565 25,68,178 25,88,022 Previous Year Total (ii) 1,81,11,231 22,84,882 - 2,03,96,113 1,57,05,984 21,01,137 3,736 1,78,03,385 25,92,728 24,05,247
* DepreciationincludeonICSI-CCGRTassetsamountingto`38.27lakh(PY`25.36lakh)debitedtoScientificResearchActivitiesexpenses-ReferNote20.** Costoflandincludesland&buildingatCOE-Hyderabad,Faridabad,Udaipur.COE-AjmerandJaipurforwhichleasedeedisyettobeexecutedinthenameofICSI. OriginalTitleDeedsarenotavailableforWIRO(OfficeNo-13),DombivliandIndoreChapter.# BuildingatCOEHyderabad,Noida,Guwahati,Udaipur,Indore&Faridabadareunderconstruction.$ Referparano(B)11ofNote21
FIXED ASSETS (Capital work in progress) NOTE - 6
(Amount in ` )
Items Cost as on 1.4.2016
Additions Adjustment/ Transfer/Sale
Total cost as on 31.3.2017
(iii) Capital Work in Progress Landunderacquisition 3,74,153 69,55,781 - 73,29,934Buildingsunderconstruction 8,24,87,118 48,20,86,157 29,28,00,880 27,17,72,395
Current Year Total (iii) 8,28,61,271 48,90,41,938 29,28,00,880 27,91,02,329 Previous Year Total (iii) 6,41,06,691 20,57,15,616 18,69,61,036 8,28,61,271
(iv) Intangible Assets under Development ComputerSoftware - - - -
Current Year Total (iv) - - - -Previous Year Total (iv) - 8,331 - 8,331
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NON CURRENT INVESTMENTS NOTE - 7(Amount in ` )
PARTICULARS AS ON
01.04.2016 ADDITIONS DELETIONS Transfer to /
from Current Inv
AS ON31.03.2017
I. INVESTMENT IN GOVT. SECURITIESGOIBonds(Cum-HY) 1,01,50,00,000 1,14,50,00,000 - - 2,16,00,00,000GOIBonds(NC-HY) 1,07,00,000 3,00,90,000 - 1,07,00,000 3,00,90,000GOISavingBonds - - - - -
SUB-TOTAL(I) 1,02,57,00,000 1,17,50,90,000 - 1,07,00,000 2,19,00,90,000
II. INVESTMENT IN DEBENTURES / BONDSREC 1,00,00,000 - - 1,00,00,000 -HUDCO - - - - -BOI 41,32,07,340 - 25,36,078 - 41,06,71,262PNB-HFL 4,83,73,596 - 86,305 - 4,82,87,291IDFCLTD 5,03,41,437 - 36,969 - 5,03,04,468
SUB-TOTAL(II) 52,19,22,373 - 26,59,352 1,00,00,000 50,92,63,021
III INVESTMENT IN MUTUAL FUNDS
(i) ShareswithSatchidanandCHSLtd. 25,000 510 - - 25,510
SUB-TOTAL(III) 25,000 510 - - 25,510
IV OTHER NON-CURRENT INVESTMENTS
(A) FixedDepositsinBanksAndhraBank 4,28,683 62,14,833 - - 66,43,516BankofMaharashtra - 20,000 - - 20,000BOB 13,50,00,000 - - - 13,50,00,000CanaraBank 85,89,29,786 2,50,16,190 12,05,01,233 37,05,62,354 39,28,82,389CentralBankofIndia 10,01,94,212 1,40,66,550 - 10,00,00,000 1,42,60,762CorporationBank 18,11,50,645 26,54,918 23,72,800 8,99,00,000 9,15,32,763HDFCBank 9,09,23,432 4,51,035 - - 9,13,74,467ICICIBank 8,10,376 1,699 7,88,725 - 23,350IndianBank 4,50,00,000 - - - 4,50,00,000IndianOverseasBank 24,83,556 1,20,00,000 24,83,556 - 1,20,00,000KarnatakaBank 10,36,998 21,105 - - 10,58,103LIC-HFL 35,00,00,000 - - - 35,00,00,000OBC 4,57,67,039 - 4,67,039 4,53,00,000 -OtherBanks 2,57,61,231 2,93,75,088 2,41,96,054 6,849 3,09,33,416PNB-HFL 27,00,00,000 - - - 27,00,00,000SBH 2,43,58,500 23,323 46,00,000 67,77,997 1,30,03,826SBI 70,72,063 10,71,402 32,83,235 (1,69,629) 50,29,859UBI 19,51,69,102 15,23,891 17,48,19,116 - 2,18,73,877VijayaBank 6,63,087 - 6,63,087 - -
SUB-TOTAL(IV-A) 2,33,47,48,710 9,24,40,034 33,41,74,845 61,23,77,571 1,48,06,36,328
(Cont.d)
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NOTE - 7(Amount in ` )
PARTICULARS AS ON
01.04.2016 ADDITIONS DELETIONS Transfer to /
from Current Inv
AS ON31.03.2017
(B) Fixed Deposits with institutions other than Banks
HUDCO 21,24,00,000 - - - 21,24,00,000 KTDFC 5,00,00,000 - - - 5,00,00,000 NHB 8,50,00,000 - - - 8,50,00,000
DepositwithLIC(Leaveencashment) 2,78,07,721 3,29,95,612 74,69,945 - 5,33,33,388TTDFCL 34,568 - - - 34,568PNBHousingFinance 8,00,000 - - - 8,00,000
SUB-TOTAL(IV-B) 37,60,42,289 3,29,95,612 74,69,945 - 40,15,67,956
(C) OTHERS (Specify nature)BackbayExpPremSocLtd 1,000 - - - 1,000BackbayExpPremSocLtd 5,781 - - - 5,781InvestmentshareinIPA - 14,00,00,000 - - 14,00,00,000
SUB-TOTAL(IV-C ) 6,781 14,00,00,000 - - 14,00,06,781
SUB TOTAL (IV:A+B+C) 2,71,07,97,780 26,54,35,646 34,16,44,790 61,23,77,571 2,02,22,11,065
TOTAL (I+II+III+IV) 4,25,84,45,153 1,44,05,26,156 34,43,04,142 63,30,77,571 4,72,15,89,596
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CURRENT INVESTMENTS NOTE - 8(Amount in
` )
PARTICULARS AS ON 01.04.2016 ADDITIONS DELETIONS
Transfer to / from Non-Current
Inv
AS ON31.03.2017
I. INVESTMENT IN GOVT. SECURITIESGOIBonds(Cum-HY) 7,96,00,000 - 7,96,00,000 - -GOIBonds(NC-HY) 3,00,00,000 - 3,00,00,000 - -GOIBonds(NC-HY) - - 1,07,00,000 1,07,00,000 -
SUB-TOTAL(I) 10,96,00,000 - 12,03,00,000 1,07,00,000 - II. INVESTMENT IN DEBENTURES /
BONDS HUDCO 4,80,00,000 - 4,80,00,000 - - REC - - - 1,00,00,000 1,00,00,000
SUB-TOTAL(II) 4,80,00,000 - 4,80,00,000 1,00,00,000 1,00,00,000 III INVESTMENT IN MUTUAL FUNDS
SUB-TOTAL(III) - - - - - IV OTHER CURRENT INVESTMENTS(A) FixedDepositsinBanks
AllahabadBank 5,89,101 6,27,953 5,89,100 - 6,27,954AndhraBank - 11,58,236 - - 11,58,236AxisBank 71,421 5,618 - - 77,039BankofBaroda 26,66,890 7,50,210 5,87,493 - 28,29,607BankofIndia 81,92,183 84,40,299 83,16,241 - 83,16,241BankofMaharashtra 36,97,085 - 36,97,085 - -CanaraBank 13,92,80,845 98,63,815 13,30,94,005 37,05,62,354 38,66,13,009CentralBankofIndia 43,21,504 3,48,410 35,000 10,00,00,000 10,46,34,914CorporationBank 51,48,65,110 5,36,860 51,00,00,000 8,99,00,000 9,53,01,970DenaBank 14,18,912 80,32,843 12,19,463 - 82,32,292HDFCBank 8,97,325 5,943 - - 9,03,268ICICIBank 70,92,954 1,11,471 34,63,050 - 37,41,375IDBIBank 29,33,117 19,41,824 18,16,485 - 30,58,456IndianBank 7,36,89,889 1,51,157 7,13,24,536 - 25,16,510IOB 63,06,175 - 63,06,175 - -OrientalBankofCommerce - - - 4,53,00,000 4,53,00,000OtherBanks 6,50,08,844 3,12,27,756 4,33,93,835 (8,865) 5,28,33,900SBH 17,58,534 1,67,257 - 67,77,997 87,03,788SBI 62,12,312 53,02,329 - (1,69,629) 1,13,45,012SBM 12,10,000 16,00,000 12,10,000 - 16,00,000SyndicateBank 11,07,806 9,00,530 8,32,524 - 11,75,812UCOBank 1,20,21,302 36,92,977 85,59,950 - 71,54,329UnionBankofIndia 11,47,710 11,86,340 11,67,025 - 11,67,025VijayaBank 2,11,757 - 2,11,757 - -
SUB-TOTAL (IV-A) 85,47,00,776 7,60,51,828 79,58,23,724 61,23,61,857 74,72,90,737 (B) Fixed Deposits with institutions
other than Banks HUDCO 4,00,00,000 - 4,00,00,000 - - IDBI - - - - -
KTDFC 8,00,00,000 - 8,00,00,000 - - NHB 1,50,00,000 - 1,50,00,000 - -
SUB-TOTAL (IV-B) 13,50,00,000 - 13,50,00,000 - - (C ) OTHERS (Specify nature)
SUB-TOTAL(IV-C ) - - - - SUB TOTAL (IV) 98,97,00,776 7,60,51,828 93,08,23,724 61,23,61,857 74,72,90,737
TOTAL (I+II+III+IV) 1,14,73,00,776 7,60,51,828 1,09,91,23,724 63,30,61,857 75,72,90,737
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INVENTORIES NOTE - 9
(Amount in ` )PARTICULARS As at 31st March 2017 As at 31st March 2016(i) Publications 21,07,873 53,37,598(ii) Consumables,Stores&Others 13,75,941 10,62,083
Total 34,83,814 63,99,681
SUNDRY DEBTORS NOTE - 10
(Amount in `)PARTICULARS As at 31st March 2017 As at 31st March 2016(a) SundryDebtors(Outstandingformorethansixmonths)
(i) Secured,consideredgood 60,919 65,869
(ii) Unsecured,consideredgood 13,43,310 59,79,550
(iii) Doubtful 3,500 1,68,334
14,07,729 62,13,753 Less:ProvisionforBadandDoubtfulDebts - 35,10,910
SUB-TOTAL (a) 14,07,729 27,02,843 (b) OthersSundryDebtors
(i) Secured,consideredgood 26,441 6,911
(ii) Unsecured,consideredgood 65,79,904 59,57,696
(iii) Doubtful 4,500 -
66,10,845 59,64,607 Less:ProvisionforBadandDoubtfulDebts 34,50,756 -
SUB-TOTAL (b) 31,60,089 59,64,607 (c) InterUnitBalances - 20,91,425
Total (a+b+c) 45,67,818 1,07,58,875
CASH AND CASH EQUIVALENTS NOTE - 11
(Amount in `)PARTICULARS As at 31st March 2017 As at 31st March 2016(i) BalanceswithBank(Incl.LinkedTermDeposits) 16,88,22,375 13,02,22,936(ii) Cheques/Drafts/IPO/Stamps/FUnitsinhand 8,62,109 2,19,303(iii) Cashinhand 4,67,420 4,89,033
Total 17,01,51,904 13,09,31,272
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SHORT TERM LOANS AND ADVANCES NOTE - 12
(Amount in `)PARTICULARS As at 31st March 2017 As at 31st March 2016 SHORTTERMLOANSANDADVANCES(specifycategory/nature)
(i) Secured,consideredgoodAmountrecoverableforIAPfromMCA - -ICSITrusts/funds 69,05,832 1,32,29,572EmployeesAdvances 40,33,844 34,88,200Others 1,05,66,436 1,07,12,758
(ii) Unsecured,consideredgood - -
AmountrecoverableforIAPfromMCA 3,56,346 1,29,500Others 6,49,37,399 6,21,04,521
(iii) Doubtful 1,72,827 43,680
Sub-Total 8,69,72,684 8,97,08,231 Less:ProvisionforBadandDoubtfulDebts 66,975 43,680
Total 8,69,05,709 8,96,64,551
OTHER CURRENT ASSETS NOTE - 13
(Amount in `)PARTICULARS As at 31st March 2017 As at 31st March 2016OTHERCURRENTASSETS(specifynature)
AccruedInterestoncurrentinvestments 73,28,61,650 56,16,45,549PrepaidExpenses 67,87,750 15,02,561SecurityDeposit 37,16,175 33,50,554CENVAT/ServiceTaxRecoverable 9,39,563 5,25,285IncomeTaxRefundDueuptoPY 2,03,65,915 1,74,73,790TaxDeductedatSourceCY 1,16,43,652 2,04,02,547Recoverableothers 3,02,491 8,89,243AdvancetoParties 24,70,963 23,28,105
Total 77,90,88,159 60,81,17,634
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INCOME FROM ACTIVITIES NOTE - 14(Amount in `)
PARTICULARS For the year ended31st March 2017 31st March 2016
(I) Members 6,22,75,460 5,50,49,510 AnnualFees 6,18,97,935 5,42,13,373 OtherFees 3,77,525 8,36,137 (II) Students 1,02,19,95,101 1,16,62,13,235 RegistrationFees 13,59,63,930 16,28,47,175 ExemptionFees 4,20,73,600 3,78,79,850 PostalEducationFees 39,23,99,138 41,17,79,675 ExaminationFees 39,99,42,920 50,12,76,220 OralEducationFee 4,04,69,990 3,95,06,633 OtherFees 1,11,45,523 1,29,23,682 (III) Publications 1,24,00,441 1,18,00,138 (IV) Programmes / Seminars 17,50,41,857 15,43,46,829 StudentsTrainingProg 12,13,40,929 8,87,52,586 MembersProgrammes/Seminar 5,37,00,928 6,55,94,243
TOTAL 1,27,17,12,859 1,38,74,09,712
INCOME FROM INVESTMENTS NOTE - 15(Amount in `)
PARTICULARS For the year ended31st March 2017 31st March 2016
InterestonInvestments&BankBalance 51,08,60,338 51,44,72,917IncentiveonInvestments 95,31,000 1,54,50,390 TOTAL 52,03,91,338 52,99,23,307
OTHER INCOME NOTE - 16(Amount in `)
PARTICULARS For the year ended31st March 2017 31st March 2016
SubscriptiontoJournal/Bulletin 1,13,94,797 76,54,080InterestonStaffadvances 1,56,512 2,87,635ReceiptforInvestorAwarenessProg.-MCA/RD 8,96,772 18,51,902ReceiptforInvestorAwarenessProg.-Others 12,85,801 10,27,660AdvisoryServices 25,000 73,930Royalty/CommissionfromPublications 1,45,163 3,53,262Provisionnolongerrequiredwrittenback 11,93,383 3,28,45,280Donations-General 1,13,935 2,74,891Rent 4,74,250 5,08,250ScientificResearchActivities-CCGRT 2,85,000 16,94,562Amountwrittenoff-EMD/SD,etc. 47,719 -MiscellaneousIncome 95,66,969 81,56,708
TOTAL 2,55,85,301 5,47,28,160
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EMPLOYEE BENEFIT EXPENSE NOTE - 17
(Amount in `)
PARTICULARSFor the year ended
31st March 2017 31st March 2016SalariesandAllowances 26,72,48,500 21,74,66,065Contributionfor: 8,13,21,422 6,94,54,735
ProvidentFund 1,55,14,557 1,32,83,463GratuityFund 71,93,084 12,17,157Pensionfund 5,68,63,250 5,49,41,863LeaveEncashmentFund 17,50,531 12,252
StaffWelfare 2,21,10,533 1,81,21,979ICSIEmployeesBenevolentFund 5,00,000 5,00,000ICSIEmployeesMedicalHospitalisationFund 75,00,000 70,00,000
TOTAL 37,86,80,455 31,25,42,779
EXAMINATION EXPENSE NOTE - 18
(Amount in `)
PARTICULARSFor the year ended
31st March 2017 31st March 2016HonorariumtoPaperSetters/Examiners 5,72,43,119 7,46,59,262GeneralObservers 52,49,747 49,84,463ExamCentres 4,87,27,807 5,59,25,555DespatchofDocuments 1,98,78,552 2,50,18,963AnswerBooks 75,37,405 78,26,187QuestionPapers 61,73,118 71,59,639CanvasBagsandLocks - 5,14,650OfficeUseforms 2,95,627 2,56,144Envelopes 7,35,088 6,81,737PassCertificates 6,66,398 4,43,546TravellingExpenses 32,44,745 3,69,750ComputerBasedExamination-Foundation 1,20,35,131 1,23,64,699DigitizationofRecords - -Others 1,71,436 8,13,304
TOTAL 16,19,58,173 19,10,17,899
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OTHER EXPENSES NOTE - 19(Amount in `)
PARTICULARSFor the year ended
31st March 2017 31st March 2016Stationery 88,31,663 73,01,181Journal&Bulletins 2,79,37,465 2,17,84,242LegalandProfessionalServices 1,43,48,035 68,83,650Rent,RatesandTaxes 73,45,479 72,80,816ElectricityandWater 1,61,41,971 1,39,05,272CommunicationExpense 5,99,82,160 5,95,64,226
Telephone/Fax/Callcentre 3,40,17,873 2,62,73,607Courier/Postage 2,59,64,287 3,32,90,619
Insurance 2,15,292 1,85,403RepairsandMaintenance 3,02,99,446 2,74,86,233
Buildings 32,22,473 16,75,811Computer 2,14,99,390 2,10,52,879OtherAssets 52,35,202 42,16,439Vehicles 3,42,381 5,41,104
OfficeExpenses 2,28,26,209 2,39,91,175NewspapersandPeriodicals 1,51,448 1,06,978Meetingexpenses 48,96,373 40,58,252Computerisation(DataProcessing) 43,08,611 77,44,145PackingandDespatch 1,48,611 2,35,414Loss/Write-offofStocks 749 -BankCharges 95,37,094 1,17,45,595StudentScholarshipandAwards 6,92,201 88,377AuditorsRemuneration(incl.ServiceTax) 13,50,391 13,36,975 AuditFees :HeadOffice 2,15,050 1,95,500
:OtherOffices 10,45,341 10,34,572 OtherServices :HeadOffice 13,800 39,590
:OtherOffices 76,200 67,313InternalAuditFee 12,01,230 6,18,438InvestorAwarnessProgrammes 9,33,994 23,73,522IEPFSecurityClaims - 15,000ContributiontoPrimeMinisterReliefFund 50,000 10,19,430MiscellaneousExp 1,42,146 2,27,419ElectionExpenses(net) - -BadDebts 15,05,000 5,86,090ProvisionforBad/DoubtfulDebts 1,78,995 34,07,076ContributiontoFunds: 4,00,00,000 2,50,00,000 -ICSIStudentEducationFundTrust 1,00,00,000 1,00,00,000 -CSBenevolentFundTrust 3,00,00,000 1,50,00,000
TOTAL 25,30,24,563 22,69,44,909
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SCIENTIFIC RESEARCH ACTIVITIES NOTE - 20(Amount in `)
PARTICULARSFor the year ended
31st March 2017 31st March 2016 CCGRT
Establishment 1,31,61,406 83,42,323Books&Periodicals 37,903 38,701Printing&Stationery 5,28,974 5,42,999Communication 3,16,908 3,81,378Travelling&Conveyance 1,74,160 5,59,995ResearchStudies 17,338 -Others 89,15,172 2,31,51,861 83,09,174 1,81,74,570
Depreciation 38,27,473 25,35,700
TOTAL 2,69,79,334 2,07,10,270
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THE INSTITUTE OF COMPANY SECRETARIES OF INDIANOTE – 21
(A) ACCOUNTING POLICIES
1. Basis of Preparation of Financial StatementsThe Financial Statements are drawn up on historical costbasisandhavebeenpreparedinaccordancewithapplicableAccounting Standards issued by the Institute of CharteredAccountantsofIndiaandareonaccrualbasisunlessotherwisestated.
2. Uses of EstimatesThe preparation of Financial Statements requires someestimateswhich affect the reported amounts of assets andliabilitiesonthedateofFinancialStatementsandthereportedamountofrevenuesandexpensesduringtheyear.Differencebetweentheactualresultandestimatesarerecognizedintheperiodinwhichresultsareknown/materialized.
3. Revenue Recognitiona. TheEntranceFeeiscollectedatthetimeofadmissionof
apersonasaMemberandisdirectlycreditedto“CapitalReserve”.
b. FeesreceivedfromMembersareaccountedforoncashbasis.However,feesreceivedinadvancearecarriedoverasaliability.
c. Feefromstudentsisrecognizedoncashbasis.d. Examinationfeeisrecognizedonthebasisofconductof
examination.e. Revenue from sale of publications is recognized at the
timeofpreparingthesalebill,ie.whenthepropertyingoodsaswellasthesignificantrisksandrewardsofthepropertygettransferredtoBuyer.
f. IncomefromInvestments
i) Dividend on investments is recognized on receiptbasis.
ii) Income on interest-bearing securities and fixeddeposits is recognized on a time proportion basistakingintoaccounttheamountoutstandingandtheratesapplicable.
ACCOUNTING POLICIES AND NOTES TO ACCOUNTS
g. Receiptofmoney for specific sponsoredProgramme isrecognizedonasystematicbasisintheIncome&ExpenditureAccount over the periods necessary to match them withthe related costs which they are intended to compensate.Unspentbalanceofsuchreceipts, ifany,arecarriedtonextyear.
4. Investmentsa. LongtermInvestmentsarecarriedatcostanddiminution
invalue,otherthantemporary,isprovidedfor.
b. Currentinvestmentsarecarriedatlowerofcostorfairvalue.
5. Fixed Assets / Depreciation and Amortizationa. FixedAssetsexcludingLandarestatedathistoricalcost
lessdepreciation.
b. Landacquiredonperpetualleaseaswellasonleaseforover99yearsistreatedasfreeholdland.Landacquiredonleasefor99yearsorlessistreatedasleaseholdland.
c. Freeholdlandisstatedatcost.Leaseholdlandisstatedattheamountofpremiumpaidinclusiveofstampdutyand registration charges for acquiring the lease rights.Thevalueofleaseholdlandisamortizedovertheperiodoflease.
d. Depreciation is provided on the Written Down ValuemethodatthefollowingratesasapprovedbytheCouncil,basedontheusefullifeoftherespectiveassets:
Item %Buildings 5FurnitureandFixtures 10Lifts/AirConditioners/OtherEquipments 15Vehicles 20Computers&Mobiles 40
d. DepreciationonadditionstoFixedassetsisprovidedonmonthlypro-ratabasis.Nodepreciationischargedintheyearofsale.
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e. FixedAssetscosting`5,000orlessarefullydepreciatedintheyearofpurchase.
f. Librarybooksaredepreciatedattherateof100%intheyearofpurchase.
g. IntangibleAssets(Software)areamortizedequallyoveraperiodofthreeyears.
6. Impairment of Assets ThecarryingamountsofassetsarereviewedateachBalanceSheetdate if there isan indicationof impairmentbasedoninternal/externalfactors.Theimpairmentlossisrecognizedwherever the carrying amount of an asset exceeds itsrecoverable amount. The recoverable amount is higher ofasset’snetsellingpriceorvalueinuse.Inassessingthevalueinuse,theestimatedfuturecashflowsarediscountedtotheirpresentvalueattheweightedcostofcapital.
7. Inventories Inventories of Papers, Consumables, Publications, StudyMaterials, etc. are valued at lower of cost or net realizablevalue.ThecostisdeterminedonFIFObasis.
8. Foreign Currency Transactions a. Foreign currency transactions are recorded on initial
recognitioninthereportingcurrencybyapplyingtotheforeigncurrencyamountattheexchangerateprevailingasonthedateoftransactions.
b. Allincomesandexpensesaretranslatedataveragerate.Allmonetaryassets/liabilitiesaretranslatedattheyearend rateswhereas non-monetary assets are carried attherateonthedateoftransaction.
c. All incomes or expenses on account of exchange ratedifferencearerecognizedintheIncomeandExpenditureAccount.
9. Employee BenefitsDefined Contribution Plan
a. Contributions to Provident Fund Trust maintained bytheInstitutearerecognizedasexpenses.
Defined Benefit Plana. Amount payable/recoverable to/from Gratuity Fund
Trust are recognized as liability/assets in the balancesheet based on the valuation report received fromLICforpresentobligationofliabilityattheyearend.
b. ContributiontoPensionFundTrustaremadebasedonactuarialvaluationandrecognizedasanexpenseasperAS-15(Revised).
c. ProvisionforleaveencashmentismadeonthebasisofactuarialvaluationprovidedbyLICandrecognizedasanexpenseasperAS-15(Revised).
10. Provisions Aprovisionisrecognizedwhenanenterprisehasapresentobligation as a result of past events; it is probable that anoutflowofresourceswillberequiredtosettletheobligation,inrespectofwhichareliableestimatecanbemade.Provisionsarenotdiscounted to itspresentvalueandaredeterminedbasedonbestestimaterequired tosettle theobligationsattheBalanceSheetdate.ThesearereviewedateachBalanceSheetdateandadjustedtoreflectthecurrentbestestimates.
11. Contribution to Approved Funds Allocation /Contributions to ICSI Students Education FundTrust, ICSI National Award for Corporate Governance,ICSI Employees Medical Hospitalization Trust, CompanySecretaries Benevolent Fund, ICSI Employees BenevolentFund, Performance-related Incentive Fund, ProfessionalDevelopmentFundandInfrastructureFund,aremadebasedontheamountasapprovedbytheCouncilfromtimetotime.
12. Allocations / Transfer to Reserves and Surplus and Earmarked Fundsa. Corpusdonation/donationforBuilding&OtherSpecific
FundreceivedduringtheyearisdirectlytakentoGeneralReserve.
b. Incomefrominvestmentofearmarkedfundsisallocatedattherateof8%p.a.totherespectiveearmarkedfundson the average ofOpening&Closing balances and theamountutilizedtherefromisdebitedtosuchfunds.
13. Old outstanding amounts under the heads of “Earnest Money Deposits, Retention Money, Security Deposits and Stale Cheques”Undisputed amount outstanding formore than three yearsundertheheadofEarnestMoneyDeposits,RetentionMoney,SecurityDepositsandStaleChequesremainingunpaidattheendofF.Y.isbeingwritingoffandtreatedasIncomefortheyear.Anysubsequentclaimoutofthewrittenoffamountwillbepaidintheyearofclaimandwillbebookedexpensesfortheyearaccordingly.
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(B) NOTES TO ACCOUNTS
1. These Consolidated Financial Statements include theaccounts of Head Quarter (including CCGRT), consolidatedaccounts of 4 Regional Councils named Northern IndiaRegional Council (NIRC), Eastern India Regional Council(EIRC),Western IndiaRegionalCouncil (WIRC)&SouthernIndiaRegionalCouncil(SIRC).
2. Contingent Liabilities (a) ClaimsagainsttheInstitutenotacknowledgedasdebts
is`25.03 lakh(PreviousYear` 71.35 lakh),excludinginterestwhichisnotyetascertained.
(b) Claimsinrespectoflegalcasesfiledbythestaff/labouragainst the Institute for labour and other matters,amounts not ascertainable (amount provided till31.3.2017is`50.00lakh).
(c) TRACESdefaultspendingadjustmentswithIncomeTaxAuthorityamountingto`1.66lakh(P.Y.` 1.51lakh)
3. The estimated amount of contracts remaining to beexecutedoncapitalaccount,netofadvancesis`1432.34lakhason31.3.2017 (P.Y.` 1540.45 lakh).EstimatedamountofOtherCommitmentsremainingtobeexecutedis`Nilason31.03.2017(P.Y.`NIL).
4. Management is of the opinion that except the assetswrittenoffduringtheyearandtheassetsretiredfromactiveuse,thereisnofurtherimpairmentofassetsascontemplatedinAccountingStandard–28.
5. Employee BenefitsThe disclosure of ‘Employee Benefits’ as defined in theAccountingStandard-15areasunder:-
Defined Contribution Plan Employer’s contribution to Defined Contribution Plansuch as Provident Fund is charged off during the financialyear. Employee’s Provident Fund is administered by ‘ICSIEmployee’sProvidentFundTrust’.
Defined Benefit Plan (i) Gratuity
TheEmployer’sGratuityFundSchememanagedby theLifeInsurance Corporation of India is a ‘Defined Benefit Plan’.Thepresentvalueofobligation isdeterminedbyLICbasedon actuarial valuation using Projected Unit Credit (P.U.C.)methodasdefinedintheAccountingStandard-15.
(ii) Leave Encashment
TheLeaveEncashment Fund Schememanagedby theLifeInsurance Corporation of India is a ‘Defined Benefit Plan’.Thepresentvalueofobligation isdeterminedbyLICbasedon actuarial valuation using Projected Unit Credit (P.U.C.)methodasdefinedintheAccountingStandard-15.
(iii) Pension
‘Pension’isadministeredbyaseparateTrustnamedas‘ICSIEmployeesPensionFundTrust’andtheactuarialvaluationofPensionBenefitPlanLiabilityhasbeendoneon31.3.2017byfollowingP.U.C.methodintermsoftheAccountingStandard–15andthepensionbenefitplanliabilitiesisfullyfunded.
I. Table showing changes in present value of ObligationFig.:`lakh
Gratuity Funded
Pension Funded
Leave Encashment Funded with LIC &
earmarkedPresentvalueofobligationsasatthebeginningoftheyear
767.08 4126.17 741.71
Interestcost 61.37 321.84 59.34PastServicecost Nil Nil NilCurrentservicecost 36.22 99.28 88.30Actuarial(Gain)/Lossonobligation
61.93 130.14 86.95
Benefitspaid (86.79) (158.52) (72.39)SettlementCost Nil Nil NilPresentValueattheyearend
839.81 4518.91 903.90
II. Table showing changes in fair value of Plan AssetsFig.:`lakh
Gratuity Funded
Pension Funded
Leave Encashment Funded with LIC &
earmarkedFairvalueofPlanAssetsatbeginningoftheyear
834.42 4085.99 903.90
ActualreturnonPlanAssets
61.78 326.88 *68.86
Contributions -- 540.19 17.49Benefitspaid (86.79) (158.52) *(86.35)ActuarialGain/(Loss)onPlanAssets
Nil (6.62) Nil
FundManagementCharges
Nil Nil Nil
FairvalueofPlanAssetsattheendoftheyear
809.41 4787.92 *903.90
*AsperSchedule-3.InterestallocatedonEarmarkedFunds.
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III. Amounts to be recognized in the Balance Sheet Fig.:`lakh
Gratuity Funded
Pension Funded
Leave Encashment Funded with LIC &
earmarkedPresentvalueofObligationattheendoftheyear
839.81 4518.91 903.90
FairvalueofPlanAssetsasattheendoftheyear
809.41 4787.92 903.90
Fundedstatus (30.40) 269.01 --NetAsset/(Liability)recognizedintheBalanceSheet
(30.40) 269.01 --
*earmarkedoutofthetotalinvestmentsoftheInstitute,referSchedule-3
IV. Expenses recognized in the Income & Expenditure AccountFig.:`lakh
Gratuity Funded
Pension Funded
Leave Encashment Funded with LIC &
earmarkedCurrentServiceCost 36.22 99.28 88.30InterestCost 61.37 321.84 59.34ExpectedreturnonPlanAssets
(61.78) (326.88) *(68.86)
PastServicecost Nil Nil NilNetActuarial(Gain)/Lossrecognizedintheyear
61.93 136.76 86.95
Expensestoberecognized
97.74 231.00 17.50
Less:-AllocatedReturnonEarmarkedFunds
- - --
Less:-OpeningexcessAmount/Plan/FundedAssetavailableoverpresentobligation
- - --
NetCost 97.74 231.00 17.50*InterestallocatedonEarmarkedFunds.
V. Funded Investment Details
Gratuity Pension Leave EncashmentInsurance Policy100%withLIC
Central and StateGovernmentSecurities,PSUBonds, FD’s with HousingFinance companies, SpecialDeposit Schemes and FixedDeposits with ScheduledBanks.
Investments of Rs.428.08lakhwithLIC.Balance investmentsearmarkedoutofthetotal investments oftheorganization.
VI. Actuarial Assumptions
Gratuity Pension Leave EncashmentMortalityTable 1994-96duly
modified2006-08 2006-08
DiscountRate 8.00%p.a. 7.40%p.a. 8.00%p.a.FutureSalaryincrease
10.00%p.a. 7.00%p.a. 10.00%p.a.
ReturnonPlanAssets
8.00%p.a. 7.50%p.a. 7.71%p.a.
Averageremainingworkinglife
20.00years 10.00years 20.01years
6. The Institute has sent letters for confirmation ofDebit/Creditbalances at the year end tomajor Parties. Balance of variousparties including Inter-unit / RC/ Chapters are subject toreconciliationandtheirconfirmation.
7. TheInstituteoperatespredominantlyinIndiaandinonesegment,i.e.,furtheranceoftheprofessionofCompanySecretaries.HenceallitsoperationsfallunderonesegmentonlywithinthemeaningofAS17,SegmentReporting.
8. The details of Prior Period Income /Expenditure are as under:Fig.:`lakh
Income FY 2016-17 FY 2015-16IncomeTaxRecoverable -- 3.21DelegateFee(42ndNC) -- 0.51Saleofpublications -- 2.05SOP(Kolhapur) -- 0.22DelegateFee(CapitalMarket–Mangalore)
-- 0.31
Printing–IEPFBooklets(1010Nos) -- 0.14Miscellaneous 0.26 2.41OtherIncome–43rdNCCorpMembersparticipationfeefromNIRC/MCAwebsitemaintenanceconsultancy/Expensepayablereceipts–FY2014-15
-- 21.98
Total 0.26 30.83ExpenditureUtilizationcertificateCharges 0.57 0.75BulkSMSCharges -- 6.13PrintingExpenses 28.64 24.17AMCCharges 1.29 1.42Travelling/ConveyanceExpenses 9.43 1.45CourierCharges 3.49 2.78PropertyTax 0.50 --IEPFExpense 2.12 1.35ExaminationExpenses 2.69StatutoryAuditFee(STelement) 0.04HonorariumCharges 10.27 0.15SSBExpenses 12.13ReimbursementofChapterExpenses 0.12PresidentMeetingexpenses 4.67 --Programme/ConvocationExpenses 3.34 --43rdNationalConvention 0.38ActuarialExpenses 0.23 0.39BankCharges 0.09ComputerConsumables 0.02
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Fig.:`lakhExpenditure FY 2016-17 FY 2015-16ElectionExpenses 0.09ExaminationExpenses(CasualSalary) 2.28HouseKeeping 0.03Internet/Website 0.27LegalExpenses 0.83 0.16MiscellaneousExpenses 12.78 8.66NationalSeminar 0.02Newspapers 0.12 0.01PrepaidExpenses 1.52ProgramsAbroad 0.05StaffWelfare 1.76 0.19SecurityServices 0.41CallCentreServices 4.08StaffTraining 0.43 0.14TDS 1.63TelecastofRadioSpots 0.45TravelInternational 4.49VehicleRepair 0.40InternalAuditFee 0.72Telephone 0.08TranslationCharge 0.04HRConclave 0.91CompanyLawCommittee 1.12CareerAwarenessWeek 0.05InsuranceClaim 2.83UdaiDivas 2.40ReimbursementtoWIRC 2.89
Total 91.51 78.95Net Income / (Expenditure) (91.25) (48.12)
9. Income Tax(i) The Institute of Company Secretaries of India has been
registeredu/s12AoftheIncomeTaxAct,1961andIncomeTaxreturnshasbeenfiledu/s11/12oftheIncomeTaxAct.
(ii) The assessment for AY 2014-15 has been completed u/s143(3)oftheIncomeTaxAct1961forthereturnfiledundersection 11/12 of the IncomeTaxAct accepting the returnedincome.FurtherassessmentfortheAY2015-16hasbeenmadeu/s 143(1)(a) of the I. T, Act and a demandof` 18.00 Lakhwasreflectedinthetaxcomputationsheet.Anapplicationforrectificationu/s154hasbeen filed towithdrawthedemandandrefundthedueamount.Thesamehasbeencorrectedandrectifiedand` 1,34,68,919/-hasbeenrefundedwithinterestvideOrderNo.CPC/1516/A7/1600333115dated24.12.2016
10. a) In previous year consolidated accounts, figures ofWIROstandalone financial statements was not incorporated asthe samewasnot received till the finalizationof accountsofInstitute and only total assets and liabilities as per auditedfinancial statements as on 31-03-2015 of ` 5.45 Crores and`5.45 Crores respectively was incorporated. Thereafteraudited standalone financial statementswas received,whichreflectedtotalassetsandliabilitiesof`5.69Croresand` 5.69Crores respectively and total revenue of ` 2.30 Crores andtotalexpensesincludingdepreciationof`2.12Croresandnetincomeof` 0.18Crore,whichwasnot been incorporated inpreviousyearconsolidatedfinancialstatement.
b) Further last financial year, i.e. F.Y. 2015-16auditorhasgiventheadverseopinionfornottrueandfairviewofthefinancialstatements of WIRO and some specific observations weremade w.r.t. booking of excess income of ` 15.00 lakhs forsponsorship and booking of lesser expenses of ` 8.32 lakhsfor different vendors andnonbooking of expenses of` 4.28lakhs for foundation day celebration which was shown asrecoverable from HQ and Non confirmation of balances ofInter Units and various parties. Some of the entries havebeen rectified during the year 2016-17. The Council hadconstituted an Investigation Committee and suitable actionisbeing taken in thematter.Further,duringthecurrentyearan amount of ` 2.70 lakhs was unauthorized withdrawnby one of the Regional Council Member towards allegedpayment of legal andprofessional fees. An amount of` 0.45lakhs was incurred against submission of suspicious billsandnon-booking of pendingbills of` 7.38 lakhs for variousvendors which were not accounted for in the year ended31-03-2016.
c) Duringthecurrentfinancialyear,i.e.F.Y.2016-17,consolidatedaudited financial statements of WIRC for F.Y. 2015-16 &2016-17 are considered for consolidation of financialstatement of Institute and accordingly previous year figureshasalsobeenrestated/regrouped/rearranged/recasttomakeitcomparablewiththecurrentyearfigures.
d) The Books of Accounts of WIRO were maintained in ERPSystem till 30-09-2016.However, after1stOctober2016 thesamewasmigratedtotallyERP9.0.Theclosingbalanceason30-09-2016 as per the ERP System was taken as openingbalanceason01-10-2016inTallyERP9.0.ThedataentryinTallyERP9.0hasnotbeenmadeonregularbasis.Entries inTallyERP9.0hasbeenmadebasedonavailablevouchers,billsandrecordswhichwasrelieduponforpreparationoffinancialstatements.
11. Allotment of land includes an amount of ` 288,56,250/-paid to APIIC (now TSIIC) for cost of land at IP-Uppal,Hyderabad comprising total area of 4918 sq meter outof which Sale Deed for 4052 sq. meter has already beenexecuted and Agreement to Sale for balance area of866 sq.meter againstwhich` 50,82,500/- has been paid toAPIIC (now TSIIC) is yet to be executed since the matter isundersubjudice.
12. Previous year building includes a land and building at C-36,Sector-62, Noida comprises total leasehold land area of1375 SqMeters and 4538.16 SqMeters of semi constructedbuilding structure (Basement plus 7 floors) and boundarywall, whichwas purchased for ` 18.34 Crores inclusive of `4.34CroresStampDutyandRegistrationCharges. Incurrentyear value of land and value of semi constructed structureas per sale deed has been bifurcated and an amount of` 9.01 Crores transferred to in lease hold land and balanceamountof`9.33CrorestransferredtoinCWIPascompletionofsemiconstructedbuildingandrenovationworkwasunderprogress. Further during the year total amount of ` 9.68
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Crores out of total budgeted value of ` 13.00 Crores for thecompletion/modificationandrenovationhasbeenincurredforthesaidbuilding.Duringtheyearsomepartofthebuilding(2floors)wasput touseandcapitalizedaccordinglyat theendoftheyearbasedonthecertificateobtainedbythearchitect.TotalvaluecapitalizedduringtheyearoutofamountlyinginCWIPforthesaidbuildingandotherassetsisasfollows:-
A. ValueofSemiFinishedStructure `2.33Crores purchased(2Floors):-B. ValueofCompletedAirConditioner `1.42Crores Plant:-C. ValueofCompletedFurnishing(Glazing) `0.89Crores Work:-D. ValueofAudioVisualEquipments:- `0.87CroresE. ValueofCDCompactors:- `0.29CroresF. FurnitureandFixtures:- `0.70CroresG. InteriorandCivilWork(2Floors):- `2.61Crores Total ` 9.11 Crores
100%Completionofbuildingisexpectedintheyearof2017-18andbalanceamountlyingunderCWIPof`9.90Croresattheendoftheyearplusamount incurredduring the2017-18willbecapitalizedaccordingly.
13. The ICSIhas constitutedan internal committee toassess thepossibility and viability of adoption of 7th pay commissionrecommendations.Noprovisions/contingentliabilityhasbeenmadeinthecurrentfinancialyearasadoptionofthesameisunderdiscretionoftheCouncilandtheCouncilofICSIisyettodecideforthesame.
14. ThedetailsofIncome&Expenditureinforeigncurrency:(`lakh)
a. EarningsinForeignCurrency Current Year
Previous Year
- Feesfromoverseasmembers -- 0.06 - ConventionStalls -- 0.73b. Expenditureinforeigncurrency - Membershipfee 5.15 7.00 - InternationalWorkshop 2.84 5.02 - TravellingExpenses 0.18 10.35 - MiscellaneousExpenses 1.60 --
Total b. 9.77 22.37
15. AspertheNotificationNo.GSR308(E)dated30thMarch2017,thedisclosureregardingdetailsofSpecifiedBankNotes(SBNs)heldandtransactedduringtheperiodfrom8thNovember2016to30thDecember2016hasbeentabulatedbelowRegion-wise:
ICSIHQ(IncludingCCGRT):
ParticularsSpecified
Bank Notes (SBNs)
Other Denomination
Notes
Total (`)
ClosingCashinhandason8.11.2016
44,500 14,842 59,342
(+)PermittedReceipts -- 5,98,327 5,98,327(+)CashwithdrawalfromBank -- 6,64,000 6,64,000(-)PermittedPayments -- 11,77,045 11,77,045(-)AmountDepositedinBanks 44,500 -- 44,500Closingcashinhandason30.12.2016
-- 1,00,124 1,00,124
EIRC:
ParticularsSpecified
Bank Notes (SBNs)
Other Denomination
Notes
Total (`)
ClosingCashinhandason8.11.2016
70,500 9,991 80,941
(+)PermittedReceipts -- 10,90,720 10,90,720(-)PermittedPayments 5,000 1,55,784 1,60,784(-)AmountDepositedinBanks 65,500 8,26,730 8,92,230Closingcashinhandason30.12.2016
-- 1,18,197 1,18,197
NIRC:
ParticularsSpecified
Bank Notes (SBNs)
Other Denomination Notes
Total (`)
ClosingCashinhandason8.11.2016
1,03,748 1,65,674 2,69,422
(+)PermittedReceipts -- 19,03,110 19,03,110(-)PermittedPayments 452 3,08,028 3,08,480(-)AmountDepositedinBanks 1,02,000 16,75,816 17,77,816Closingcashinhandason30.12.2016
1,296 84,940 86,236
16. Previous year’s figures have been regrouped/rearranged/recastwhereverconsiderednecessarytomakeitcomparablewithnewformatwiththoseofthecurrentyear.
Asperourreportofevendate. For and on behalf of the CouncilFor BANSAL SINHA & CO. CharteredAccountantsFRN006184N CA Sameer Gupta CS Dinesh C Arora JointSecretary(F&A) Secretary(NISHANTCHAUDHARY) Partner MNo.513802 CS Makarand Lele CS (Dr.) Shyam Agrawal VicePresident PresidentPlace:NewDelhiDate:26thSeptember,2017
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RECOGNITIONS SECURED FOR COMPANY SECRETARIES
TheListofRecognitionsSecuredforCompanySecretariesareavailableontheWebsiteoftheInstituteatlink:https://www.icsi.edu/Member/ListofUnivresityforCS.aspx
LIST OF UNIVERSITIES WHICH HAVE RECONGNISED THE COMPANY SECRETRYSHIP QUALIFICATION AS EQUIVALENT TO POST GRADUATE DEGREE
FOR PURSUING PH.D COURSETheList ofUniversitieswhichhaveRecongnised theCompanySecretryshipQualification asEquivalenttoPostGraduateDegreeforPursuingPh.DCourseareavailableontheWebsiteoftheInstituteatlink:https://www.icsi.edu/Webmodules/Recognition_Secured_for_company_Secretaries.pdf
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AGuidetoBoardEvaluation
SecretarialStandards,SS-1&SS-2
ReferenceronBoard’sReport
Amendment Rules, Circulars, Notifications andOrdersunderCompaniesAct,2013
GuidetoCompaniesAct,2013
IncorporationofCompanies-CompaniesAct,2013series
ReferenceronPre-certificationofe-forms-Revision
Amendment Rules, Circulars, Notifications andOrdersunderCompaniesAct,2013
TheCompaniesAct,2013
TheCompaniesRules
RecollectionsofaPioneer
CompanyLawManual
CorporateLaws
CompaniesAct,2013
NCLT and NCLAT Convergence of CorporateJurisdiction
GuidanceNoteonGeneralMeetings
GuidanceNoteonMeetingsofBoardofDirectors
GuidanceNoteonAnnualReturn
SEBI (Listing Obligations and DisclosureRequirements)Regulations,2015–AReferencer
CoffeeTableBookonCorporateGovernance
CoffeeTableBookonCSR
CorporateBankruptcy–APrimer
LIST OF PUBLICATIONS (2016-2017)
BackgrounderonNationalCompanyLawTribunal
GuidanceNoteonAOC-4
GuidanceNoteonSecretarialAudit(Release1.3)
ReferenceronBoard’sReport
FAQ’sonSection8Companies
SEBI(LODR)Regulations,2015–DebtSecurities
NCLTandNCLAT-Manual
Guidance Note on Code of Conduct for CompanySecretaries
SettingupofPracticebyCompanySecretaries
Golden Leafs – ICSI’s National Conventions(1972-2015)
DelistingofEquityshares
CyberCrimes:Law&Practice
Handbook on Arbitration, Conciliation andMediationwith
specialreferencetoCompaniesAct,2013
TransferPricingReferencer
ChallengingOpportunitiesforPractisingCompanySecretariesinLabourLaws
UnderstandingFinancialStatements
TechnicalAnalysis
CSSAATHI
RiskManagement
CGCertification
IndependentDirectors–Ahandbook
CompaniesActandLODR–aComparison
********