Andhra Chamber of Commerce...ISO 9001 -2015 Andhra Chamber of Commerce (INCORPORATED UNDER SECTION 8...

ISO 9001 -2015

Andhra Chamber of Commerce(INCORPORATED UNDER SECTION 8 OF THE COMPANIES ACT)

"Velagapudi Ramakrishna Bldg.", 23, Third Cross Street, West C.I.T. Nagar, Nandanam, P.B.No.3368, Chennai-600 035Phone : 044-24315277 / 78, Email: [email protected] / [email protected]

Web : www.andhrachamber.com

To

All Members.

Dear Sir/s:

The Ninety first Annual General Meeting of the Andhra Chamber of Commerce willbe held at 4.30 P.M. on Wednesday, September 25, 2019 at the Registered office of theChamber, "Velagapudi Ramakrishna Bldg.", 23, Third Cross Street, West C.I.T Nagar,Nandanam, Chennai-600 035 to transact the following business:

A G E N D A

1. Address by Dr. V.L. Indira Dutt, President

2. Adoption of the Annual Report of the Chamber for 2018-2019

3. Adoption of Audited Statement of Accounts of the Chamber for the yearending March 31, 2019

4. Election of the following Office Bearers:

(i) President

(ii) Two Vice-Presidents

(iii) Four Committee Members from among Affiliated Bodies

(iv) Ten Committee Members from among Members

(v) Appointment of Auditors and fixation of their remuneration.

In the event of a contest, the election of office bearers will be held by ballot atthe Registered office of the Chamber on Thursday, September 26, 2019 between 11A.M. and 5 P.M.

SECUNDERABAD OFFICE: "T.G. Venkatesh Bhavan", R-6Q2&603, Chenoy Trade Centre, VI Floor, 116,Park Lane,P.8.No.1716, Secunderabad-500 003 (IS)PHONE: 040-27840844 Email: [email protected]

VISAKHAPATNAM OFFICE: Door No. 43-19-30, Venkataraju Nagar, Dondaparthy, Near TSN Colony, Visakhapatnam-53Q016(A.P.) PHONE: 0891-2792220,Email: [email protected]

VIJAYAWADA OFFICE: Siddhartha Hotel Management College Premises, Pinnameneni Poly Clinic Road, Technical Nagar, Vijayawada - 520 010 (A.P),PHONE:0866-2472500, Email:[email protected]

The Members who retire are:

*

*

*

Dr. V.L. Indira Dutt, PresidentShri C- Nagendra Prasad, Vice- PresidentShri Ch. Venkateswara Rao, Vice-PresidentDr. G.V. ChalapathiShri Navin B. RathoreShri SA AzeezShri G. Sankaran

Shri IM. Siva Prasad

Dr. M.K. Muthuvelu

SmL Ramavenugopal

Shri M Chakravarthy

Shri A. Mallesh Rao

Shri A. Ramesh Prasad, Hyderabad

Smt. Sree Laxmi Vani, Hyderabad

Shri Umra Singh, Hyderabad

Shri R.R. Padmanabhan

ShriG. Ramachandran

Shri M. Shekar

ShriV.B.S.S.Koteswara Rao, Hyderabad

Shri V.S Prasanth Kumar

Smt. Rashmi Mohindra

*

*

*

Shri A. Krishna Balaji, VizagShri S.R- SundaramShri S.B. Prabhakar RaoDr. V.L DuttShri P.S. BhashyamShri V. SethuramShri K. Sankarakrishnan

Shri P.S. Kumar

Dr. J. Venkataramana

Shri C. Venkatachalam

Shri S.S. Rajsekar

Shri Sailesh R. Mehta

Shri Baboolal P. Rathore

Shri G. Sudhakar

Shri K.B. Narasimha Prasad

Shri Kailashmull Dugar

Shri V. Upendran

Shri D.S. Balachandra Babu

Shri K.S. Chakravarthy

Shri M. Raghavendra Rao, Vizag

Shri M. Rajaiah, Vijayawada

Nomination forms for the above offices shall be in the prescribed form which can behad from the Registered office of the Chamber and shall be duly signed by the candidateand proposed and seconded by two other Members of the Chamber and sent to theRegistered office of the Chamber so as to reach on or before 5 P.M. on Tuesday,September 17, 2019.

The nomination papers will be scrutinised at the Registered office of the Chamber at5.15 P.M. on the last date for receipt of valid nominations and a list of valid nominations willbe put up on the Notice Board of the Chamber immediately after the scrutiny is over.

Appointment of Auditors --The retiring Auditors are Vedam & Co., Chennai.

Please Note: In terms of Section 167(1|(b) of the Companies Act, 2013 whoabsents himself from all the Board Meetings held during the period of 12 months withor without seeking leave of the Board shall vacate the office immediately. The list ofExecutive Committee Members who have not attended the Committee Meetings (atleast one meeting) preceding 12 months mentioned star mark (*) against their namesin the above list.

(By Order of the Executive Committee)

Office of theAndhra Chamber of Commerce,"Velagapudi Ramakrishna Bldg.",23, Third Cross Street, West C.I.T. Nagar,Nandanam, Chennai-600 035

Septembers, 2019.

(R. Vija/alakshmT)Secretary General

ANNUAL REPORT

OF THE

ANDHRA CHAMBER OF COMMERCE

FOR THE YEAR

2018-2019

C O N T E N T S Page No.

Report of the Executive Committee for the year 2018-2019 1

Annual General Meeting 1

Election of Office Bearers 1

Membership 1

Hon. Members 2

Condolence 2

Felicitations 2

Executive Committee 3

ISO 9001-2015 Certification for the Chamber 4

Conferences, Seminars and or other Programmes organised

by the Chamber - Chennai Office 4

— Secunderabad Office 6

- Visakhapatnam Office 6

~ Vijayawada Office 6

Consultative Committee of City Chambers of Commerce 7

Affiliation 7

Sub-Committees and Industry/Trade Panels 7

Visits and Meetings 8

Publications of the Chamber 10

Library 10

Free Consultancy Service 10

Submission of Memoranda 12

Andhra Chamber of Commerce Business Incubator 12

Andhra Chamber of Commerce Women Business Forum 12

80G Exemption 12

Internal Financial Control and Adequacy 12

Acknowledgment 12

Representatives of the Chamber on Public Bodies 13

Secunderabad Advisory Committee 2018-2019 14

Visakhapatnam Advisory Committee 2018-2019 15

Vijayawada Advisory Committee 2018-2019 15

Executive Committee 2018-2019 16

Presidents- Past and Present 17

Audited Statement of Accounts for the year 2018-2019 18

ANDHRA CHAMBER OF COMMERCECHENNAI

REPORT OF THE EXECUTIVE COMMITTEEFOR THE YEAR 2018-2019

The Executive Committee of the Andhra Chamber of Commerce have pleasure in placing before theGeneral Body of Members of the Chamber the Annual Report for the year 2018-2019 together with the AuditedStatement of Accounts for the same period- While doing so the Executive Committee presents a short resume ofthe activities of the Chamber during the year under review.

ANNUAL GENERAL MEETING

The Ninetieth Annual General Meeting of the Chamber was held on Thursday, September 27, 2018 at theRegistered office of the Chamber, "Velagapudi Ramakrishna Bldg.", 23, Third Cross Street, West C.I.T. Nagar,Nandanam, Chennai-600 035. Dr. V.L. Indira Dutt, President delivered the Presidential Address. Shri C. NagendraPrasad, Vice-President proposed the vote of thanks.

ELECTION OF OFFICE BEARERS

Dr. V.L. Indira Dutt, Managing Director of The K.C.P. Ltd., Chennai, was unanimously re-elected asPresident of the Chamber, Shri C. Nagendra Prasad, Chairman of Travel Express Limited, Chennai. Shri Ch.Venkateswara Rao, Chennai were unanimously re-elected as Vice-Presidents.

Dr. G V. Chalapathi of Laminated Packaging Manufacturers Association, Chennai, Shri Navin B Rathore,Vice-President, The Madras Kirana Merchants Assn., Chennai were elected as Members of the ExecutiveCommittee to represent Affiliated Bodies.

Shri V.V. Sampathkumar of V.V.S. Kumar & Co., Chennai, Shri S. Subbusundaram, Chennai, Shri G.Nageswara Rao, Managing Director of R.R. Minerals Export P. Ltd.. Chennai, Shri S.B. Goenka, Director of 3FIndustries Ltd., Chennai, Shri V. Murali, Chennai, Shri K.N. Suresh Babu, Managing Director of Suresh N' SureshExports P. Ltd., Chennai, Shri K.V. Sundararn, Chennai, Smt. Asha Rammohan, Chennai, Smt. JayashreeManradiar, Chennai, Shri P. Chiranjeevulu, Secunderabad were elected as Members of the Executive Committee.

At the first Meeting of the Executive Committee held on October 4, 2018 Dr. M.K. Muthuvelu, Chennaiwas unanimously re-elected as Treasurer of the Chamber

Dr. J.A.S. Giri, Chairman of Sangfroid Industries Limited, Hyderabad , Shri D. Prasanna Kumar,Visakhapatnam and Shri M. Rajaiah, Managing Director of Hotel Gateway, Vijayawada were unanimously electedas Chairmen of the Secunderabad, Visakhapatnam and Vijayawada Advisory Committees respectively.

Dr. V.L. Dutt, Shri P.S. Bhashyam, Shri V. Sethuram, Shri K. Sankaraknshnan, Shri P.S. Kumar, Dr. J.Venkataramana, Shri C. Venkatachalam, Shri S.S. Rajsekar Shri Sailesh R. Mehta, Shri Baboolal P. Rathore, G.Sudhakar, Shri K.B. Narasimha Prasad, Shri Kailashmull Dugar, Shri V. Upendran and Shri D.S. BalachandraBabu former Presidents were coopted as Members of the Executive Committee as per the provisions of theArticles of Association of the Chamber.

Shri R.R. Padmanabhan, Chennai, Shri G. Ramachandran, Shri M. Shekar, Chennai, Shri V.B.S.S.Koteswara Rao, Hyderabad were coopted as Members of the Executive Committee for 2018-2019 under 'ExpertsCategory"

Shri V.S. Prasanth Kumar, Chennai, Smt. Rashrni Mohindra, Chennai Shri A. Krishna Balaji,Visakhapatnam were elected as Members of the Executive Committee for 2018-2019 under "Un-representedIndustry/Trade Category".

Shri S.R. Sundaram, Chennai and Shri S.B. Prabhakar Rao were elected as Members of the ExecutiveCommittee for 2018-2019 under "General Category".

MEMBERSHIP

The year 2018-2019 commenced with a Membership of 1579 as on April 1, 2018. During the year 158Members ceased to be Members while 119 were admitted as Members. As on March 31, 2019 the Membershipstood at 1540.

HON. MEMBERS

Hon'ble Shri Edappadi K. Palaniswami, Chief Minister of Tamil Nadu, H.E. Shri Banwarilal Purohit,Governor of Tamil Nadu, Hon'ble Shri K. Chandrashekar Rao, Chief Minister of Telangana and Shri N.Chandrababu Naidu, Chief Minister of Andhra Pradesh continued to be the Honorary Members of theChamber during the year.

CONDOLENCE

Dr. M. Karunanidhi, former Chief Minister of Tamil Nadu on August 7, 2018.

Shri Atal Bihari Vajpayee, former Prime Minister of India on August 16, 2018.

Dr. M.V.V.S. Murthi, President, GITAM University, Visakhapatnam & former Chairman of VisakhapatnamAdvisory Committee of Andhra Chamber of Commerce on October 1, 2018.

Shri K. Srinivasamurthy, Advocate, Labour Law Consultant and Hon.Adviser of the Chamber on LabourLaw Matters on October 31, 2018.

FELICITATIONS

The Executive Committee felicitated and congratulated the following Members during the year:

Dr. V.L. Indira Dutt, Managing Director of the KCP Limited and President of Andhra Chamber ofCommerce on her conferment of Doctorate - Honoris Causa by the Saveetha University Chennai on May 21,2018.

Shri G.Sudhakar, former President of the Chamber, Founder & Chairman of Bliss Group of Companieson his being honoured by Hon'ble Shri Subhash Desai, Minister for Industries & Mining, Government ofMaharashtra and presenting a Citation and Memento to Shri G.Sudhakar, recognising his services as theChairman of the Plastics Export Promotion Council for 2013-14 and 2014-15.

Shri Subbu Sundaram, Proprietor, Annam Associates and Member of the Executive Committee of theChamber on the happy occasion of performing Kumbhabhishakam of Sri Kasi Viswanathaswamy Temple inVaranasi. It is a great achievement for a person who was able to succeed the great task of performingKumbhabhishakam of Sri Kasi Viswanathaswamy temple after long gap of 238 years

Shri M.A. Adithyaa S/o Shri M K. Anand, E.G. Member - a 20 year old student of Electronics andInstrumentation Engineering from Madras Institute of Technology on his winning the Silver medal at theInternational Championship - Asian Rubic Cube Championship Competition held at Taiwan on August 19, 2018.He has also broke the national record as well for the seventh time in the speed cubing competition.

Shri Ch Venkateswara Rao, Managing Director, VGA Home Promoters Pvt. Ltd. & Vice-President of theChamber on his election as the Governor of Vasavi Club International District V502A for the year 2019.

CA. Shri D. Prasanna Kumar, Chairman, Visakhapatnam Advisory Committee, ACC on his election as theCentral Council Member of the Institute of Chartered Accountants of India, Southern India Regional Council,Visakhapatnam region for the year 2018-19.

Dr. Vinod Surana, Surana & Surana International Attorneys, Members of the Chamber on his being electedfrom Tamil Nadu to the National Managing Committee of ASSOCHAM for the years 2019 & 2020

Smt. Kavitha Dutt Chitturi, JMD of The KCP Limited & Life Member of the Chamber on her election as theChairman of FICCIT.N. State Council for the year 2018-19.

Dr. V. Murali, Member, Executive Committee on his election as the Member of the Central Council of theInstitute of Cost Accounts of India, Southern India Region and on also on his conferment of Doctorate - HonorisCasa.

Dr. V.L. Indira Dutt, Managing Director, The KCP Limited and President of Andhra Chamber of Commerceon her being awarded -- the prestigious award by the Rotary Club - "For the sake of Honour Award" by the RotaryClub of Mid-Town on January 21, 2019.

EXECUTIVE COMMITTEE

The Executive Committee of the Chamber met six times during the year under review.

The number of Meetings attended by each Member of the Executive Committee is given below Thefigures in bracket indicate the number of Meetings held during the year after election or cooption of the Member/sconcerned.

No. of No. ofMeetings MeetingsAttended held

Dr. V.L. Indira Dutt 6 (6)ShriC. Nagendra Prasad 4 (6)Shri Ch. Venkateswara Rao 4 (6)Dr. G.V. Chalapathi 2 (6)Shri Naveen B. Rathore 3 (6)Shri S.A. Azeez 0 (3)Shri G. Sankaran 0 (3)Shri N. Siva Prasad 3 (6)Dr. M.K. Muthuvelu 5 (6}Smt. Ramavenugopal 2 (6)Shri M. Chakravarthy 0 (6)Shri A. Mallesh Rao 0 (6)Shri A. Ramesh Prasad, Hyderabad 0 (6)Smt. Sree Laxmi Vani, Hyderabad 1 (6)Shri Umra Singh, Hyderabad 1 (6)Shri S. Narasimhan 3 (6)Shri B. Gautham 5 (6)Shri K.S. Chakravarthy 0 (6)Dr. J.A.S. Giri, Hyderabad 1 {6}Shri M. Raghavendra Rao, Vizag 0 (6)Shri M. Rajaiah, Vijayawada 0 (6)Shri M.V. Ananthakrishna 1 (6)Shri M.K. Anand 2 (6)Shri V.V. Sampathkumar 1 (6)Shri V. Murali 1 (4)Shri S. Subbusundaram 2 (6)Shri K.V. Sundaram 1 (4)Shri G. Nageswara Rao 1 (6)Shri S.B. Goenka 4 (6}Shri K.N Suresh Babu 2 (6)Shri P. Chiranjeevulu, Secbad 2 (6)Smt. Asha Rammohan 3 (6)Smt. Jayashree Manradiar 1 (6}Dr. V.L. Dutt 0 (6)Shri P.S. Bhashyam 0 (6)Shri V. Sethuram 0 {6}Shri K. Sankarakrishnan 2 (6)Dr. J. Venkataramana 0 (6)Shri P.S. Kumar 6 (6)Shri C. Venkatachalam 0 (6)Shri S.S. Rajsekar 0 (6)Shri Sailesh R. Mehta 3 (6)Shri Baboolal P. Rathore 1 (6)Shri G. Sudhakar 4 (6)Shri K.B. Narasimha Prasad 2 (6)ShriV. Upendran 0 (6)Shri Kailashmull Dugar 2 (6)Shri D.S. Balachandra Babu 1 (6)Shri R.R. Padmanabhan 3 (6)

Shri G, Ramachandran 3 (6)Shri M. Sekhar 2 (6)Shri V.B.S.S. Koteswara Rao, Hyd 1 (6)Shri V.S. Prasanth Kumar 1 (6)Smt. Rashmi Mohindra 3 (6)Shri A. Krishna Balaji, Vizag 1 (6)Shri S.R. Sundaram 1 (6)Shri S.B. Prabhakar Rao 2 (6)

ISO 9001-2015 CERTIFICATION FOR THE CHAMBER

The Chamber had obtained ISO Certification from TUV South Asia P. Ltd, Mumbai for the year 2012 Asper the ISO norms the Chamber had upgraded the ISO Standards from 9001-2008 to 9001-2015 successfullyduring the year 2018-2019

CONFERENCES, SEMINARS AND OR OTHER PROGRAMMES ORGANISED BY

CHENNAI OFFICE:

A Presentation on "Capital raising for SMEs through BSE" organised by the Chamber with the support ofBombay Stock Exchange Limited was held on April 12, 2018 at E-Hotel, Chennai Guest Speaker Shri C.Gurunathan, Associate Manager - Business Development, BSE Limited.

Audio visual Presentation Meeting on "Lessons of Management from Thirukkural" organised on April 25,2018 - Guest Speaker: Shri Milton Rajasekar, Corporate Trainer.

Andhra Chamber of Commerce Members -Visit to Defence Expo on April 13, 2018.

11th J.V. Somayajulu Memorial Lecture on "REVIVAL OF MANUFACTURING SECTOR IN INDIA - WAYFORWARD" was held on Wednesday, May 9, 2018 at 6.30 P.M. Venue: Engage Hall, E. Hotel, Express Avenue,Chennai. Chief Guest: Shri B. Santhanam, Managing Director, Saint-Gobain India P. Ltd. - Glass Business,Chennai.

An Interactive Session on Benefit of Authorised Economic Operator (AEO) on May 18, 2018 at theChamber's Meeting Hall. Chief Guest : Shri P.K. Behra, IRS, Commissioner of Customs, Guest of Honour Shri S.Nataraja, President of the Chennai Customs Brokers Association, Speaker Shri M Rarnesh, IRS, DeputyCommissioner of Customs and Dr. P.G. Prabhakaran, IRS, Asst. Commissioner of Customs-

Audio visual Presentation Meeting on "Business is People" organised on May 30, 2018 - Guest Speaker:Mr. P. Veeraraghavan, Corporate Trainer.

Lecture on "Role of Civil Society in a Democracy" on May 25, 2018 at The Rain Tree Hotel, Nandanam.Chief Guest Hon'ble Justice Shri Jasti Chelameswar, Judge, Supreme Court of India

Audio visual Presentation Meeting on "Design for Innovation" organised on June 27, 2018- GuestSpeaker: Shri Subramaniam Ponnusamy, Corporate Trainer.

A Two-day Workshop on Advanced Solar PV Technologies and Vendors Meet - 2018 on June 21 & 22,2018 at 1C & SR Hall, IIT Madras, Guindy, Chennai. Chief Guest: Hon'ble Shri Banwarilal Purohit, Governor ofTamil Nadu.

Audio visual Presentation Meeting on "Paradise Regained: AIMLA enables Strategic Profitability for theTechnopreneur" organised on July 30, 2018 at MMA Management Center, Chennai - Guest Speaker: Prof. Bala V.Balachandran.

An "Interactive Session on New Companies Act - Amendments thereto" on August 2. 2018 at Chennai.Chief Guest: - Shri M.R. Bhat. Regional Director (South), Ministry of Corporate Affairs, Government of India,Guest of Honour: Shri A.S. Ponraj, Registrar of Companies, Tamil Nadu, Ministry of Corporate Affairs, Governmentof India, Co-ordinator: Shri G. Ramachandran, Chairman, Company Law Sub-Committee of the Chamber.

Audio visual Presentation Meeting on "Future of Work" organised on August 29, 2018 - Guest Speaker:Shri V. Pattabhi Ram, Senior Corporate Trainer.

Seminar on "GST - ITC Compliance Verification and Claims Validation" was organized by the Chamber onSaturday, September 1, 2018 at "Southern Crown Hall", Hotel CRT Grand, Pondy Bazaar T. Nagar, Chennai -600 017. Chief Guest : Shri C.P. Rao, IRS, Principal Chief Commissioner of GST and Central Excise, Speakers:Shri R. Subramianian, FCA, Shri T,R. Srinivasan, FCA, Shri Gopalakrishna Raju, FCA, Shri SaravanaPrabhu, FCA and Shri Vijayanand, FCA. Coordinator: Shri V.V. Sampathkumar, Chairman, Indirect Taxes Sub-Committee, ACC

Audio visual Presentation Meeting on "The Good Boss" organised on September 26, 2018 - GuestSpeaker: Shri P. Veeraraghavan, Senior Corporate Trainer.

Meeting on "Indo - Japan Relations - Way to look forward" organised by the Chamber was held at 4 PMon Friday, October 12; 2018. Mr. Tomio Isogai, former Managing Director of Sharp Corporation, Japan was theChief Guest.

A 24 Member -Delegation from Andhra Chamber of Commerce visited the SRICITY - Special EconomicZoneatTadaon October 12, 2018.

A Presentation on Dynamics of Indian Financial Markets organised by Andhra Chamber of Commerce withthe support of BSE Limited was held on December 7, 2018 at E-Hotel, Royapattah, Chennai. -- Guest speaker:Shri Purushottam Saraf, Product Head, Business Development, BSE Limited.

Audio visual Presentation Meeting on "Importance of Market Research" organised on December 26, 2018- Guest Speaker: Mr R. Pasupathy, Corporate Trainer.

Audio visual Presentation Meeting on "MINDFULNESS" on January 30, 2019 - Guest Speaker: SHRISURESH VIJENDRAN, Senior Corporate Trainer.

A presentation on ''Strategic Cost Management and Government Schemes for SMEs" organised by theChamber with the support of Institute of Cost Accountants of India SIRC at Chennai was held on February 7, 2019at the Chamber's Conference Hall, 'Velagapudi Ramakrishna Bldg., West CIT Nagar, Nandanarn, Chennai - 600035. - CMA P. Raju Iyer, Chairman, PD & CPD Committee, ICAI and CMA Gopal Krishna Raju. were the GuestSpeakers.

An interactive session on Envisioning India 2030 jointly organised by Andhra Chamber of Commerce andFICCI T.N. State Council was held on February 21. 2019 at the Chamber's Conference Hall, VelagapudiRamakrishna Bldg, Chennai. Dr. Ajay Chhibber, Chief Economic Adviser of FICCI was the Guest Speaker.

A Presentation on 'Collateral Free Funding Opportunities for Importers, Exporters and Contractors"organised by Andhra Chamber of Commerce was held on February 22, 2019 at the Chamber's Conference Hall,Chennai Shri S. Senthil Kumar, Vice-Chairman, Euro Exim Bank Ltd was the Guest Speaker

Audio visual Presentation Meeting on "Financial Market in India" organised on February 27, 2019 - GuestSpeaker: Dr. KM. Somasundaram, Senior Corporate Trainer.

Visit of Sri Lanka Business Delegation from National Chamber of Exporters, Colombo to Chennai. - one toone Business Meetings with our Members organised by Andhra Chamber of Commerce was held on March 1,2019 at "Enrich Hall", E. Hotel, Via Pattulos Road, Gate No 1, Royapettah, Chennai - 600014 Chief Guests H.E.Mr, Vadivel Krishnamurthy, Deputy High Commissioner of Sri Lanka in South India, Mr. Yasantha De Silva,Minister (Commercial), Deputy High Commission of Sri Lanka and Business Delegates team from Sri Lanka.

A presentation on 'Emerging Technologies 2 Transform your Business" was organised by the Chamber onMarch 20, 2019. Guest Speakers: Shri Bharath Devanathan, G.M. Emerging Technologies, HTC Global Ltd. andShri Sivaram Athmakuri, Tech Consultant & Certified PMP, Co-ordintor: Shri M.K. Anand, Chairman, InformationTechnology, Computerisation and Telecom Sub-Committee, ACC.

A Workshop on Risk Analysis & Industrial Risk Assessment was organised by the Chamber on March 23,2019. Chief Guest : Shri N. Sivaramakrishnan, former Director, GE Power India Ltd. (Alstom India Ltd.), GuestSpeakers: Shri V. Narasimhan, Shri A.K. Srikantan, Co-ordinator: Dr. M.K. Muthuvelu, Chairman, Power, AlternatePower, Renewable Energy & Fuel and Risk Management Sub-Committee, ACC

Audio visual Presentation Meeting on "Blockchain : What it is and What it means for Businesses"organised on March 27, 2019 - Guest Speaker Shri G. Praveen Kumar CEO, Franc Technologies

SECUNDERABAD OFFICE:

The Secunderabad office of the Chamber functioned with Dr J.A.S. Giri; as the Chairman of theSecunderabad Advisory Committee

An Interactive Session on New Companies Act 2013 and Amendments thereto" at Monday, August 20,2018 at Secunderabad. Chief Guest: Shri M.P. Shah, Regional Director (South East Region), Guest of Honour:Shri R.C. Mishra, Registrar of Companies, T.S & A. P., Ministry of Corporate Affairs, Government of India,Hyderabad, Co-ordinator: Shri G. Ramachandran, Practicing Company Secretary.

A Presentation on FUTURE OF E-MOBILITY FOR SMES at Hyderabad organized by Andhra Chamber ofCommerce with the support of TANSTIA FNF service and Friedrich Naumann Foundation for Freedom was held onSaturday, November 24, 2018 at Hotel Mercure KCP Hyderabad. - Shri Simon Seivaraj, Senior Director, JLLIndia, Chennai was the Guest Speaker.

An Interactive Session on "Exploring Business Opportunities through Foreign Trade Agreements andSocial Media" organised by the Telangana Chapter of the Andhra Chamber of Commerce was held onWednesday, February 20, 2019 at Hotel Mercure Hyderabad KCP. Hyderabad. -- Shri S.B S. Reddy, ITS,Additional Director General of Foreign Trade, Ministry of Commerce & Industry, Government of India, Hyderabadwas the Chief Guest.

VISAKHAPATNAM OFFICE:

The Visakhapatnam office of the Chamber functioned with Shri M. Raghavendra Rao, as the Chairman ofthe Visakhapatnam Advisory Committee till August 26, 2018. Shri D. Prasanna Kumar was elected as theChairman of the Visakhapatnam Advisory Committee from August 27, 2018.

A Presentation on Future of E-Mobility for SMES at Visakhapatnam organized by Andhra Chamber ofCommerce with the support of TANSTIA FNF service and Friedrich Naumann Foundation for Freedom was held onFriday, November 23, 2018 at Hotel Daspalla, Suryabagh, Visakhapatnam -- Prof. Dr. N. Srinivas, Professor ofEnvironmental Studies, Director, Centre for Climate Change & Disaster Management, GITAM University was theGuest Speaker.

Presentation on "STRATEGIC COST MANAGEMENT AND GOVERNMENT SCHEMES FOR SMES" at11.30 A.M on Monday, March 11, 2019 at Vedika Hall", Hotel Daspalla, Suryabagh, Visakhapatnam - 530 020(A.P). A joint programme with SIRC of ICAI. Chief Guests: CMA Suresh R.Gunajalli Chairman, SIRC CMA K.Sanyasi Rao, Past Chairman, SIRC CMA PVN Madhav, Chairman, Visakhapatnam Chapter, CMA SubhankarGupta, Chairman, Ukkunagaram Chapter, Speakers: CMA P. Raju Iyer, Chairman PD & CPD Committee,CMAGopala Krishna Raju, Senior Consultant.

ViJAYAWADA OFFICE:

The Vijayawada office of the Chamber functioned with Shri M. Rajaiah, as the Chairman of the VijayawadaAdvisory Committee.

A Programme on A.P Capital Present & Future Plans at 5 P.M, Monday, August 13, 2018. Venue: TajGate Way Hotel, MG Road, Vijayawada - 520 010(A.P) Chief Guest: Dr. Sreedhar Cherukuri, IAS., Commissioner,Capital Region Development Authority (CRDA), Government of Andhra Pradesh

A seminar on "Andhra Pradesh - Major tourist Destination" organised by Andhra Chamber of Commerce,Vijayawada was held on October 29, 2018 at Hotel Gate Way, Vijayawada. Chief Guest Prof. V. Jayarami Reddy,Chairman, Andhra Pradesh Tourism Development Board, Special Guests: Shri Mukesh Kumar Meena, IAS,Secretary to Government of Andhra Pradesh - Tourism and Culture Department, Shri Himanshu Shukla, IAS, CEO& MD, APTA & APTDC.

CONSULTATIVE COMMITTEE OF CITY CHAMBER OF COMMERCE

The Chamber continued to be a Member of the Consultative Committee of City Chambers of Commercealong with Hindustan, Madras, National, Southern India and Tamil Chambers of Commerce

CCCCC organised a meeting to felicitate Shri Rashesh Shah, President, FICCI on Wednesday, May 9,2018 at Hotel Taj Coromandel, Chennai.

AFFILIATION

The Chamber continued to be the Affiliated Member of the following Organisations during the year:

Federation of Indian Chambers of Commerce & Industry, New Delhi

I.C.C. India, New Delhi

All India Organisation of Employers, New Delhi

Federation of Indian Micro and Small & Medium Enterprises, New Delhi

The Chamber continued to be an Associate Member of the India Trade Promotion Organisation, New Delhiand Council for Fair Business Practices, Mumbai

SUB-COMMITTEES AND INDUSTRY/TRADE PANELS

The Sub-Committees and Industry/Trade Panels of the Chamber for the year 2018-2019 werereconstituted with the following as Chairmen and Co-Chairmen of the Sub-Committees and Industry/Trade Panels.

CHAIRMEN AND CO-CHAIRMEN OF SUB-COMMITTEES AND INDUSTRY/TRADE PANELSFOR 2018-2019

Sub-Committees

1. Agriculture & RuralDevelopment

2. Banking & Finance3. Company Law4 Direct Taxes5. Foreign Trade6. Internal Trade7. Labour & Management8. Port Affairs, Shipping,

Logistics, Warehousing& Transport

9. Power, Alternative Power,Renewable Energy &Fuel and Risk Management

10. Indirect Taxes11. Travel & Tourism12. Information Technology,

Computerisation &Telecom

13. Startup Business,Entrepreneurship &Business Incubator

14. Quality Systems &Productivity Committee

15.Skill DevelopmentSub-Committee

16. Press Relations Sub-Committee

Chairman

Shri D.S. Balachandra Babu

Shri Kailashmull DugarShri G. RamachandranShri N. Siva PrasadShri R.R. PadmanabhanShri Baboolal P. RathoreShri S. RavindranShri S. Narasimhan

ShriM.K. Muthuvelu

Shri V.V. SampathkumarShri C. Nagendra PrasadShri M K. Anand

Smt Rama Venugopal

Shri G. Sudhakar

Shri R.R. Padmanabhan

Shri B. Gautham

Co-Chairman

Shri M. ShekarShri R. DeenadayaluShri H.B Bhaskar ShenoyShri Sailesh R. Mehta

Shri M. Suresh

Srin M. V Anantoakrishna

Shri J. MuraliSmt. Rathi Nilakantan

Shri B. Gautham

Smt. Rama Venugopal

Shri M.K. Anand

Shri V.S. Prasanth Kumar

Industry & Trade Panels Chairman Co-Chairman

1. Major Industries Shri P. Vijaya Bhaskar Reddy Dr. J.A.S. Giri2. MSME Dr. D.V.V. Sree Lakshmi Vani3. Mining & Mineral Industries Shri V. Prabhakar Reddy

4. Handloom Industry & Trade Shri S. Thangaraj

VISITS AND MEETINGS

During the year under review the following dignitaries were the Guests of Honour at the functionsorganised by the Chamber and or jointly with sister Chambers of Commerce or met with by representatives of theChamber at meetings organised by them.

Shri C Gurunathan, Associate Manager - Business Development, BSE Limited.

Shri Milton Rajasekar, Corporate Trainer, Chennai

Shri B. Santhanam, Managing Director, Saint-Gobain India P. Ltd

Mr. P. Veeraraghavan, Corporate Trainer, Chennai

Shri P.K Behra, IRS, Commissioner of Customs, Chennai

Shri S. Nataraja, President of the Chennai Customs Brokers Association, Chennai

Shri M. Ramesh, IRS, Deputy Commissioner of Customs, Chennai

Dr. P.G. Prabhakaran, IRS, Asst. Commissioner of Customs, Chennai

Hon'ble Justice Shri J. Chelameswar, Judge, Supreme Court of India, New Delhi

Shri Rashesh Shah, President, FICCI, New Delhi

Shri Subramaniam Ponnusamy, Corporate Trainer, Chennai

Dr Sreedhar Cherukuri, IAS., Commissioner, Capital Region Development Authority (CRDA), Government ofAndhra Pradesh,

Shri A. Raguram, Director, Cares Renewables Pvt Ltd

Shri S. Sivagnanam, Additional Industrial Adviser, MSME-Dl, Chennai

Dr. R.Velraj, Director, Institute of Energy Studies, Anna University

Shri J.P: Sam Prasad, Managing Director, Hild Energy Private Limited

H.E. Shri Banwarilal Purohit, Governor of Tamil Nadu.

Shri S.Sivaharsh, Director, Cares Renewables Pvt Ltd.

Shri Rohit Kumar, Head of Indian Sub-Continent, REC (India) Pvt Ltd.

Shri Vishanth Venkatesh, Adani Solar

Shri Ramesh Subarao, G.M. Indian Sub-Continent Operation

Shri Venatesh, Technical Head, India Solar Edge Technologies (India) Pvt Ltd

Shri S.Santhosh Kumar, Business Leader-Renewables Energy, Lapp India Pvt Ltd

Shri S.S haji, Manager South, Dehn India

Shri Venkat Mukundrajan -Strategic account Manager -Sales APAC, Enphase

Shri Venkatesh, Technical Head, India Solar Edge Technologies (India) Pvt Ltd.

Shri Arun Chaturvedi, Sales Director. Indian Sub-Continent, Alpha Technologies Ltd.

Shri G.Lakshmi Narasimhan, CEO, Kripya Technologies (India)Private Limited

Shri Varun Bhatt, Alpha Technologies Limited

Shri R. Ananthakrishnan, Technical Director, Kripya Technologies (India) Pvt Ltd

Shri Dilip Kumar, CEO, Inspire CE Pvt, Ltd.

Shri Deva P. Seetharam, CEO, Data Glen Technologies Pvt Ltd

Shri Bhoovarahan Tirumalai, CEO, Aspiration Energy Pvt Ltd.

Shri V. Pattabhi Ram, Senior Corporate Trainer

Prof. Bala V. Balachandran, Founder, Dean & Chairman, Great Lakes Institute of Management, Chennai

Shri C.P. Rao, IRS, Principal Chief Commissioner of GST and Central Excise, Chennai

Shri R. Subramianian, FCA, Chennai

Shri T.R. Srinivasan, FCA, Chennai

Shri Gopalakrishna Raju, FCA, Chennai

Shri Saravana Prabhu, FCA Chennai

Shri Vijayanand, FCA, Chennai

Shri P. Veeraraghavan, Senior Corporate Trainer

Shri M.R. Bhat, Regional Director (South), Ministry of Corporate Affairs, Government of India

Shri A.S. Ponraj, Registrar of Companies, Tamil Nadu, Ministry of Corporate Affairs, Government of India

Shri M.P. Shah, Regional Director (South East Region), Ministry of Corporate Affairs, Government of India,Hyderabad

Shri R.C. Mishra, Registrar of Companies, T.S & A. P., Ministry of Corporate Affairs, Government of India,Hyderabad

Mr. Tomio Isogai, former Managing Director of Sharp Corporation Japan

Prof. Dr. N. Srinivas, Professor of Environmental Studies, Director, Centre for Climate Change & DisasterManagement, GITAM University

Shri Purushottam Saraf, Product Head, Business Development, BSE Limited

Shri R. Pasupathy, Corporate Trainer

Shri Suresh Vijendran, Senior Corporate Trainer

CMA P. Raju Iyer, Chairman, PD & CPD Committee, ICAI, Chennai

Dr. Ajay Chhibber, Chief Economic Adviser of F1CCI, New Delhi

Shri S. Senthil Kumar, Vice-Chairman, Euro Exim Bank Ltd

Dr. K.N. Somasundaram, Senior Corporate Trainer

H.E. Mr. Vadivel Krishnamurthy, Deputy High Commissioner of Sri Lanka in South India

Mr. Yasantha De Silva, Minister (Commercial), Deputy High Commission of Sri Lanka

Shri Bharath Devanathan, G.M. Emerging Technologies, HTC Global Ltd.

Shri Sivaram Athmakuri, Tech Consultant & Certified PMP

Shri N. Sivaramakrishnan, former Director, GE Power India Ltd (Alstom India Ltd.),

Shri G. Praveen Kumar, CEO, Franc Technologies.

Shri Simon Selvaraj, Senior Director JLL India, Chennai

Shri S.B.S. Reddy, ITS, Additional Director General of Foreign Trade, Ministry of Commerce & Industry,Government of India, Hyderabad

CMA Suresh R. Gunajalli Chairman, SIRC

CMA K. Sanyasi Rao, Past Chairman, SIRC

CMA PVN Madhav, Chairman, Visakhapatnam Chapter,

CMA Subhankar Gupta, Chairman, Ukkunagaram Chapter

Prof. V. Jayarami Reddy, Chairman, Andhra Pradesh Tourism Development Board.

Shri Mukesh Kumar Meena, IAS, Secretary to Government of Andhra Pradesh - Tourism and Culture Department.

Shri Himanshu Shukla, IAS, CEO & MD, APTA & APTDC.

10

PUBLICATIONS OF THE CHAMBER

The Chamber continued to publish the following publication during the year for the information andguidance of Members and Member Bodies:

Information Bulletin (E-version - Monthly & Printed version -- Bi-Monthly) is in its 7151 year of publicationwhich carried all the important Tax Laws, Labour Laws, Corporate Laws in addition to Foreign Trade - ExportImport, Service Tax, T.N. VAT, A.P. VAT, Business Opportunities etc. from time to time.

The Executive Committee take this opportunity of placing on record their sincere thanks to the Ministriesand Departments of the Government of India, Government of Andhra Pradesh and Government of Tamilnadu andother official and non-official agencies for their cooperation and assistance by way of timely supply of GovernmentOrders, Notifications, Public Notices, Trade Notices, Press releases etc. and to the Members of the Chamber andAdvertisers for their support

LIBRARY

During the year under review 22 Books were added to the Library. The Journals and Periodicals sectionreceived over 27 titles including those subscribed and or received on complimentary or exchange basis.

The Library and Reading Room facilities were availed of by many Members and Member Bodies during theyear.

FREE CONSULTANCY SERVICE

The Free Consultancy Service on Labour, GST, Direct Taxes, Customs & Central Excise. Export & ImportTrade, Banking & Finance, Patents, Trade Marks & Intellectual Property Rights Issues, Company Law matters &Constitutional & Civil Laws, Technical Standards Inspection & Testing (DGS&D) and Startups - BusinessConsultancy continued at Chennai and Secunderabad offices of the Chamber during the year.

The Panel of Hon. Advisers was reconstituted during the year with the following as Hon. Advisers:

Hon. Advisers at Chennai:

Goods & Service Tax:

Shri V.V. Sampathkumar, B.Sc., F.CA, DISA (ICA)Shri V.V. Ramesh, B.Com., M.L.

Labour Laws:

Shri T.S Gopalan, B.A.B.L., Advocate & NotaryShri S. Ravindran, B.A.B.L., Advocate & Notary

Direct Taxes:

Shri S. Sathyanarayanan, B.Com, B.L., ACA, ACMA, ACS., Advocate

Customs &GST:

Shri N. Ramaswamy, B.Com., F.C.A.,

Export & Import Trade:

Shri R.R. Padmanabhan, M.B.A., B.L. Exim Consultant

Banking & Finance:

Shri A.V. Rajagopalan, M.A., (Eco), M.A. (Stat) BGLFormer General Manager (Retd) and Ex. Management Consultant

of Indian Bank & M/s. Lakshmivilas Bank Ltd.

Patents, Trade Marks & Intellectual Property Right Issues:

Shri Manoj Pillai, M.L., (India) LLM, (UK) DALM Advocate

11

Company Law Matters. Constitutional & Civil Lines:

Shri G. Ramachandran, B.Com., A.C.S., Practicing Company SecretaryShri R. Deenadayulu, B.Com., ACS , Practicing Company Secretary

Technical Standards Inspection & Testing fPGS&D)

Shri G.S. Raghupathi, Asst. Director (Retd), Quality Assurance, DGS&D

Startups - Business Consultancy

Shri M.K Anand, B.Sc, M.A, MBA,Smt. Ramavenugopal, M.A.

Hon. Advisers at Secunderabad Office

Direct Taxes / Income Tax / Company Law / A.P. VAT

Shri S.S.R. Koteswara Rao, F.C.A.,Shri P. Chiranjeevulu, M.Com., LLBShri P. Yakaiah, FCA

Labour:

Smt. V Uma Devi, AdvocateShri Raman Kumar Heda, ACA

Goods & Service Tax:

Shri Y.L. Narasimha Rao, M.Com.,Shri R. Vijayakumar, B.Com, LLBShri Lemesh Kumar Goel, FCA

Foreign Trade:

Shri N. Parthasarathy, Exim ConsultantShri V.B.S.S. Koteswara Rao, Exim Consultant

Company Law Matters:

Shri Abhiramula Moksha Kalyanram, ACA, ACS, LL.BShri P, Chiranjeevulu, M.Com., LLB

Hon. Advisers at Visakhpatnam Office:

Shri R. Ananda Murthy B.A.B.L., Hon. Adviser on A.P VAT

Shri G. Prabhakara Sastry, B.Com., B.L., Hon. Adviser on Customs and GST

Shri K.K.V.T. Ramakrishna, Advocate & Consultant on Income Tax.

Shri V. Deveswara Rao. Advocate & Consultant on Labour Laws.

Hon. Advisers at Vijayawada Office:

Shri P. Lakshmna Rao, Chartered Accountant on Direct Taxes

Shri M.V.IM. Rama Chandra Rao on Indirect Taxes

12

SUBMISSION OF MEMORANDA

A Pre-Budget Memorandum on Direct Taxes and Indirect Taxes was sent on November 22, 2018addressed to Hon'ble Shri Arun Jaitley, Union Minister for Finance, Government of India for consideration of theGovernment of India.

ANDHRA CHAMBER OF COMMERCE BUSINESS INCUBATOR

In alignment with the Startup momentum in the country, Chamber has set up a Business Incubator topromote and nurture Entrepreneur-ship by encouraging new gen entrepreneurs to set up businesses under theguidance of Chamber's Business Incubator.

ANDHRA CHAMBER OF COMMERCE WOMEN BUSINESS FORUM

The Chamber constitutes Andhra Chamber of Commerce Women Business Forum (ACCWBF) to encouragewomen to work towards community, culture and collaborate and coach to create women entrepreneurs.

80G EXEMPTION

The Executive Committee of the Chamber have the pleasure in informing all the Members and MemberBodies about that the Chamber is continuing to enjoy the 80G exemption granted by the Director of Income Tax(Exemption) by virtue of an amendment made in the Central Budget for 2009-2010- Accordingly all the donationsreceived by the Chamber during the year 2017-2018 are exempt under Section BOG of the Income Tax Act.

INTERNAL FINANCIAL CONTROL AND ADEQUACY

The Board has adopted policies and procedures for ensuring the orderly and efficient conduct of itsbusiness, including adherence to Company's policies, safeguarding of its assets, prevention and detection offrauds and errors, the accuracy and completeness of the accounting records and the timely preparation of reliablefinancial disclosures.

ACKNOWLEDGEMENT/

The Executive Committee of the Chamber take this opportunity to thank Shri L Vijayaraghavan, FCA,Chartered Accountant & Partner, M/s. Vedam & Co., Chennai, Auditors for the valuable service rendered, thePress and other Media for the coverage given to the activities of the Chamber and the General Body of Membersfor their support and cooperation.

The Executive Committee take this opportunity of placing on record their appreciation for the excellentservice rendered by Smt R. Vijayalakshmi, Secretary General, Shri P Nandagopal, Secretary, Shri O Srinivas,Joint Secretary, Shri N. Ravikumar, Joint Secretary, Shri N. Raja Rao, Joint Secretary, Shri K. Balasubramanyam,Deputy Secretary, Shri G. Ramanjaneyulu, Deputy Secretary, Shri V. Thrinadha Rao, Deputy Secretary, Shri G.Dayanand, Assistant Secretary and staff members of the Andhra Chamber of Commerce.

Sd/-

Office of the V.L. INDIRA DUTTAndhra Chamber of Commerce, PRESIDENT"Velagapudi Ramakrishna Building",23, Third Cross Street, West C.I.T Nagar, Sd/-Nandanam, Chennai-600 035

R. VIJAYALAKSHMISECRETARY GENERAL

Dated: September 5, 2019

13

REPRESENTATIVES OF THE CHAMBER ON PUBLIC BODIES

Chennai Customs Advisory Committee (Air Port)

Shri R.R, Padmanabhan, Chennai

Shri K.B. Narasimha Prasad, Chennai -- Alternate Nominee

Regional Central Excise Advisory Committee Chennai-l Commissionerate for Organised Sector

Shri C. Ramesh Kumar of Indian Commerce & Industries P. Ltd. Chennai, (Block Years 2017 &2018)

ShriT.G. Srinivasan of Tablets (India) Ltd., (Block Years 2017 & 2018)

Executive Committee of the Federation of Indian Chambers of Commerce & industry, New Delhi

Dr. V.L. Dutt, former President

Executive Committee of the ICC India (International Chamber of Commerce):

Shri V. Murali, F.C.A., Partner, Victor Grace & Co . Chennai

Shri V.B.S.S. Koteswara Rao, CEO of Global Exim Sources Hyderabad

Consultative Committee of City Chambers of Commerce, Chennai

Dr. V.L. Indira Dutt, President

Tamil Nadu State Council of FICCI

Dr. V.L. Indira Dutt, President

Chairman

Members

Hon. Advisers

Deputy Secretary

14

SECUNDERABAD ADVISORY COMMITTEE 2018-2019

: Dr. J. A.S.Giri, Chairman of Sangfroid Industries Ltd., Hyderabad

Shri S.S.R. Koteswara Rao, Partner, Brahmayya & Company

Shri A. Ramesh Prasad, Managing Director of Prasad Productions Pvt. Ltd..

Shri Y. Nayudamma, Managing Director of Phytochem India Ltd.,

Ms. Saraswati Gurbani, Partner of Diyaash Jewels LLP

MR. K. Anil Kumar, Chairman & Managing Director of KPC Projects Ltd

Shri V.B.S.S. Koteswara Rao CEO of Global Exim Sources, Hyderabad.

Shri S.Sambasiva Rao, Executive Director of My Home Industries Ltd.,

Shri Abhiramula Moksha Kalyanram, Consultant on Indirect Taxes

Shri U. Patanjali Rao, Managing Director of Upadrasta Dairy Specialities Ltd.,

Shri Ashven Datla, Managing Director of IMCL Wintech India Limited

Shri Kesava Rao Kodali, Chairman of SEKO BEC Pvt. Ltd,

Dr. D.V.V. Sree Laxmi Vani, Proprietor, Venkata Shree Sai Industries, Hyderabad

Shri Nagarjun Gowra, Managing Director of Gowra Aerospace Technologies Pvt.Ltd,

Shri G.V.K. Naidu, Managing Director of Sam Agritech Ltd.,

Shri M. Nageswara Rao Gupta, Managing Director of Suraksha Pharma Pvt. Ltd.,Hyderabad

Mrs. Prem Lata Meena, Managing Partner of Royal Sons Impex

Smt Umra Singh Sirohi, Managing Director of AGS Impex India P. Ltd, Hyderabad

Shri Ankineedu Maganti, Director of Soma Enterprise Ltd.,

Shri P. Achuta Ramayya, Joint Managing Director of Andhra Sugars Ltd., Tanuku

Shri P. Chiranjeevulu, Company Law Matters and Direct Taxes

Shri Y. Sambasiva Rao, Sales Tax & VAT

Shri T. Krishna Kumar Mencn, Kripa Exim Consultants, Customs, Central Excise &Service Tax

Shri Baalu Radha Krishna, Customs, Central Excise & Service Tax

Shri N. Pardhasaradhi, Kripa Exim Consultants, Foreign Trade

Smt Uma Devi, Advocate, Labour Law Matters

: Shri G. Ramanjaneyulu

15

Chairman

Members

Hon. Advisers

Deputy Secretary

Visakhapatnam Advisory Committee for 2018-2019

Shri D. Prasanna Kumar, F.C.A., Visakhapatnam

Shri M. Raghavendra Rao, Managing Director, Daspalla Hotel Limited, Visakhapatnam

Mr. Nand Gopal Bangur, Director of Dozco (India) Pvt. Ltd.,

Shri A-V. Monish Row, President of the Vizagapatnam Chamber of Commerce & Industry

Shri Vijay Pradhan, Proprietor of Ujval Marketing Services

Shri V.V.S.R.C. Murthy, National Aluminium Company Ltd.,

Shri D.V. Balajikumar, Partner of Hotel Vishnu Residency

Shri U. Shekar, Manager of A.VR. Storage Tank Terminals Pvt.Ltd.,

Shri Sunil Kumar, Director of EISAI Pharmacetucals and Mfg. Pvt. Ltd.,

Shri K.V. Prasad, Managing Director of Sandhya Marine Ltd.,

Shri A. Krishna Balaji, Managing Partner of Lalitha Metals

Shri G. Prabhakara Sastry

Shri K.K.V.T. Ramakrishna

Shri R. Ananda Murthy

Shri V. Deveswara Rao

Shri V. Thrinadha Rao

Chairman

Members

Joint Secretary

Vijavawada Advisory Committee for 2018-2019

Shri M. Rajaiah, Managing Director of Hotel Taj Gateway, Vijayawada

Shri Paiadagu Lakshmana Rao, Chartered Accountant, Vijayawada

Shri Koneru Satyanarayana of K.L.University, Vijayawada

Shri Y. Harish Chandra Prasad, Founder & Chief Mentor of Malaxmi Infra Venture

(India) Pvt. Ltd.,

Shri N Lalitha Prasad, Tax Practitioner of Brahmayya &Co., Vijayawada

Shri Md. Usman, Managing Director, Luckey Mission Automotives Pvt Ltd..

Shri Chitturi Nagendrakumar, Managing Partner of Circas Lakshrni Millstores

Shri Valluru Venkata Basavaiah, Proprietor of Shoreview Hospitality Pvt. Ltd.,

Shri Velagapudi Sambasiva Rao, Chairman & Managing Director of SHA Frames

Shri Gaddipati Satyanarayana, Investment Advisors, Vijayawada

Shri T. Raghava Prasad, Kristna Engineering Works Vijayawada

Shri Siva Koteswara Rao Bodepudi, Profit Shoe Company Pvt. Ltd., Vijayawada

N. Raja Rao

16


"Velagapudi Ramakrishna Bldg." "T.G. Venkatesan Bhavan"23, Third Cross Street, 602 & 603 Chenoy Trade Centre,West C.IT. Nagar, 116. Park Lane,P.B.No.3368. P.B.No.1716,Nandanarn, Chennai-600 035 Secunderabad-500 003 (T.S.)

Door No. 43-19-30,Venkataraju Nagar,

Dondaparthy,Near TSN Colony,

Visakhapatnam-530 016 (A.P.

Siddrtartha Hotel ManagementCollege Premises

Pinnameneni Poly Clmc Road.Technical Nagar,

Vijayawada-520 D10 (A.P }

EXECUTIVE COMMITTEE, 2018-2019

PresidentVice-Presidents

Treasurer

Dr. V.L. Indira DuttShri C. Nagendra PrasadShriCh. Venkateswara RaoDr. M.K Muthuvelu

[a] Affiliated Bodies:

COMMITTEE MEMBERS:

Dr. G.V. Chalapathi of Laminated Packaging Mfgrs Assn., ChennaiShri Navin B. Rathoreof The Madras Kirana Merchants Assn., ChennaiShri S.A. Azeez, President of The South India Iron & Hardware Merchants Association,ChennaiShri G. Sankaran, President, Tamilnadu, Pondy Plastic Association, Chennai

[b] Members:

Shri N. Siva PrasadShri M. ChakravarthyShri A. Ramesh PrasadSmt. D.V.V. Sree Laxmi VaniSmt. Umra Singh SirohiShri A. Mallesh RaoSmt. Rama Venugopal

Shri S. NarasimhanShri B. GauthamShri K.S. ChakravarthyDr. J.A.S GiriShri M. Raghavendra RaoShri M. RajaiahShri M.V. Anantha KrishnaShri M.K. Anand

Shri G. Nageswara RaoShri S. SubbusundaramShri V.V. SampathkumarShriS.B. GoenkaDr. V. MuraliShri P. Chiranjeevulu,Shri K.N. Suresh BabuShri K.V. SundararnSmt. Asha RatnmohanSmt. Jayashree Manradiar

[c] Co-opted: Past-Presidents:

Dr V.L, DuttShri P.S BhashyamShriV. SethuramShri K. SankarakrishnanShri P.S. Kumar

Dr. J. VenkataramanaShri C. VenkatachalamShri S.S. RajsekarShri Sailesh R MehtaShri Baboolal P. Rathore

Shri G. SudhakarShri K.B. Narasimha PrasadShri Kailashmull DugarShri V. UpendranShri D.S. Balachandra Babu

[d] Co-opted - Experts

Shri R.R. PadmanabhanShri V.B.S.S. Koteswara Rao

Shri G. Ramachandran

[e] Co-opted - Un-represented Industry/Trade:

Shri V.S. Prasanth Kumar Smt. Rashmi Mohindra

Shri M. Shekar

Shri A. Krishna Balaji

[f] Co-opted - General:

Shri S.R. Sundaram Shri S.B. Prabhakar Rao

Secretary General : Smt. R. Vijayalakshmi Auditors: Vedam & Co., Chennai

17

ANDHRA CHAMBER OF COMMERCEPRESIDENTS - PAST AND PRESENT

* Shri Kommireddi Suryanarayanamurthi Naidu (1928, 1929)*Shri NarayandasGirdhardas (1930, 1935 to 1943)*ShriP.T Kumaraswami Chetty (1931 to 1934)* Shri C Seshachalam (1944 to 1946)*ShriN. Rama Rao (1947)*ShriGuntur Narasimha Rao (1948 to 1950)* Shri T.V. Ethirajulu Chetty (1951)* Shri P. Suryanarayana (1952, 1953)* Shri J V. Somayajulu (1954, 1955)* Shri V. Venugopal (1956-1957)*Shri V. Emberumanar Chetty (1958 to 1960)* Shri S. Venkatarangam (1961)* Shri Jayantilal P. Sanghrajka (1962, 1963)* Shri P. Brahmayya (1964, 1965)* Shri V.G.S.V. Prasad (1966 to 1968)* Shri Rasiktal M. Metha (1969, 1970)'Shri Y. Venkanna Chowdary (1971, 1972}* Shri T.S. Krishnamurthi (1973, 1974)

Shri V.R. Bakthavatsalam (1975, 1976)Dr. V.LDutt, (1977, 1978}

*Shri P. BhojaShetty(1979, 1980)*Shri J.K. Bhuwalka(1981, 1982)*Shri L.V. Ramaiah (1983)

Shri V. Ravindranath (1984)*ShriS. Nandagopal(1985, 1986)

ShriP.S. Bhashyam(1987)* Shri V. Mohan Rao (1988-89)

Shri V. Sethuram (1989-90)* Shri S. Mohan Das (1990-91)* Shri K.V. Govinda Rao (1991-92)* Shri D. Parthasarathy Reddy (1992-93)* Shri Harbhagwandas P. Arora (1993-94)

Shri K. Sankarakrishnan (1994-95)Shri P.S. Kumar (1995-96)Dr. J. Venkataramana (1996-97/1997-98)Shri S. Seetharamaiah (1998-99, 1999-2000}

* Shri A. Bhawarlal Nahar (2000-2001)* Shri Y. Sambhu Prasad (2001-2002 - upto February 4, 2002)

Shri C. Venkatachalam (2001-2002 - from February 10, 2002 & & 2002-2003)Shri S.S. Rajsekar (2003-2004 & 2004-2005)Shri Sailesh R. Mehta (2005-2006)Shri Baboolal P. Rathore (2006-2007)Shri G. Sudhakar (2007-2008)Shri K.B. Narasimhaprasad (2008-2009)ShriV. Upendran (2009-2010)Shri Kailashmull Dugar (2010-2011)Shri D.S. Balachandra Babu (2011-2012)Dr V.L. Indira Dutt (From September 28, 2012)

Since deceased


AUDITED STATEMENT OF ACCOUNTS

FOR THE YEAR

April 2018-March 2019

ANDHRA CHAMBER OF COMMERCE[Incorporated under Section 8 of the Companies Act 2013]

BALANCE SHEET

Amount in INR

1.

II.

Particulars

EQUITY AND LIABILITIES

(1) Shareholders'* Funds

(a) Reserves and Surplus

(2) Andhra Chamber Somayajulu MemorialEndowment Fund

(3) Non-Current Liabilities

(a) Other long term liabilities

(4) Current Liabilities

(a) Other current liabilities

Total

ASSETS

(!) Non - Current Assets:

fa) Fixed Assets

(i) Tangible Assets

(b) Long-term loans and advances

(2) Current Assets:

(a) Cash and Cash equivalents

(b) Short-term loans and advances

(c) Other Current assets

Total

Notes

3

4

5

6

7

8

9

10

11

As at

March 31, 2019

32,669,333

741,891

612,000

1,117,066

35,140,340

8,004,411

2,660,453

10,664,864

19,496,696

1,034,382

3,944,398

24,475,476

35,140,340

As at

March 31, 2018

29,431,699

768,737

1,264,800

827,683

32,292,919

8,717,412

2,372,612

11,090,024

20,445.294

442,601

315,000

21,202,895

32,292,919

Summary of significant Accounting policies - Refer Note 2 to the Financial statements.

The accompanying notes are an integral part of the Financial statements.

As per our report of even date

For VEDAM& COMPANY

Chartered Accountants

FRN : 004573S

For and on behalf of

Andhra Chamber of Commerce

Sd/-

L. Vijayaraghavan

Partner

Mem. No. 027371

Sd/-

President

Sd/-

Treasurer

sd/-

Secretary General

Place : Chennai

Date : September 5, 2019


STATEMENT OF INCOME AND EXPENDITURE

Amount in INR

1.II.III.

IV.

V.

VI.

VII

VIII

IX

Particulars

INCOME

Revenue through Chamber

Other Income

Total Income

EXPENSES

Expenditure on Chamber activities

Employees Benefits

Depreciation / amortization

Other Expenses

Total Expenses

Surplus / (Deficit) before exceptional and extraordinaryitems and Tax (IH-IV)

Exceptional and Extraordinary Items

Surplus / (Deficit) before tax (V-VI)

Tax Expense

Surplus / (Deficit) for the year [VII - VIII)

Notes

12

13

14

15

16

17

Year ended

March 31, 2G19

4,767,500

10,835,098

15,602,598

1,176,339

6,598,687

1,393,598

3,686,291

12,854,915

2,747,683

-

2,747,683

-

2,747,683

Year ended

March 31, 2018

2,163,000

10,472,118

12,635,118

2,386,632

5,817,876

1,340,402

2,399,167

11,944,077

691,042

-

691,042

691,042

Summary of significant Accounting policies - Refer Note 2 to the Financial statements.

The accompanying notes are an integral part of the Financial statements.


For VEDAM & COMPANY

Chartered Accountants

FRN :004573S



Sd/-

L. Vijayaraghavan

Partner

Mem. No. 027371

Sd/-President

Sd/-Treasurer

5dA

Secretary General

Place : Chennai



Notes forming part of the Financial statement

3 Reserve & Surplus

Particulars

Building Reserve

Corpus Fund

Entrance Fee

Life Membership Reserve

Excess of Income over Expenditure

Total

3.1

3.2

3.3

3.4

As at

March 31, 2019

12,536,443

5,367,271

1,470,350

3,445,950

9,849,369

32,669,383

As at

March 31, 2018

12,536,442

5,367,271

1,145,350

3,280,950

7,101,686

29,431,699

Andhra Chamber Somayajulu Memorial Endowment Fund

Particulars

Opening balance as per last Balance Sheet

Add: Addition during the year

Add: Interest received during the year

Less: Expenses incurred during the year

As at

March 31, 2019

768,737

49,561

818,298

76,407

741,891

As at

March 31, 2018

722,593

46,144

768,737

768,737

5 Other Long term Liabilities

Particulars

Rental Deposit received

Total

As at

March 31, 2019

612,000

612,000

As at

March 31, 2018

1,264,800

1,264,800

Other Current Liabilities

Particulars

Advance Subscription

Deposit for Membership

Advance Certificate of Origin

Provision for Taxation

Audit Fee Payable

TDS Payable

Bills Payable

Outstanding Expenses

Total

As at

March 31, 2019

88,725

60,549

224,713

363,713

30,000

1,228

329,025

19,113

1,117,066

As at

March 31, 2018

55,625

88,049

192,012

360,534

29,500

-

87,350

14,613

827,683

Long term Loans and Advances

Particulars

Electricity Deposit

Salary Advance

Rental Deposit for Visakhapatnam Office

Balance with Govf. Authorities:

(i)TDS Receivables

(ii) Income Tax Paid under Protest

Total

As at

March 31, 2019

169,885

40,000

105,000

1,233,454

1,112,114

2,660,453

As at

March 31, 2018

169,885

28,000

105,000

957,613

1,112,114

2,372,612

9 Cash and Cash equivalent

Particulars

Cash in hand

Bank Accounts (Current / Savings A/c.)

Bank Accounts (FDs Maturing 3 Months)

Bank Accounts (Fixed Deposits - Others)

Total

9.1

9.2

9.3

9.4

As at

March 31, 2019

71,629

449,686

4,450,000

14,525,381

19,496,696

As at

March 31, 2018

45,994

571,119

5,450,000

14,378,181

20,445,294

10 Short-Term Loans and Advances

Particulars

IDS Receivables

Bills Receivabies

ITC - GST

Total

As at

March 31, 2019

323,952

149,266

561,164

1,034,382

As at

March 31, 2018

275,841

166,760

442,601

11 Other Current Assets

Particulars

Subscsription due from Members

Advances to Equipment & BIdg. Maintenance

Total

As at

March 31, 2019

890,100

3,054,298

3,944,398

As at

March 31, 2018

315,000

315,000

12 Revenue through Chamber

Particulars

Subscription Income

Total

Year ended

March 31, 2019

4,767,500

4,767,500

Year ended

March 31, 2018

2,163,000

2,163,000

13 Other Income

Particulars

Issue of Certificate of Origin

Information Bulletin

Miscellaneous Income

Rental Income

Interest Income

ACCBI - Incubation Fee

Seminar Income

Total

Year ended

March 31, 2019

7,232,788

112,600

86,851

1,931,997

1,376,445

1,696

92,721

10,835,098

Year ended

March 31, 2018

7,167,105

-

79,560

1,940,121

1,240,332

45,000

-

10,472,118

14 Expenditures on Chamber Activities

Particulars

Chamber's Anniversary Celebration

Subscription to other Bodies

ISO 9001-2008 Certification

Seminar Expenses

Irrecoverable Subscription

ACC Business Incubator Expenses

Total

Year ended

March 31, 2019

4,007

65,960

66,545

-

778,000

261,827

1,176,339

Year ended

March 31, 2018

1,039,556

53,150

-

189,117

450,010

654,799

2,386,632

15 Employees Benefit

Particulars

P.F. Contribution to Secretary

P.P. Contribution to other Staff

Salary Allowance and Bonus to other Staff

Salary Allowance and Bonus to Secretary

Andhra Chamber Employees Group Gratuity

Staff Welfare

Total

Year ended

March 31, 2019

82,824

322,286

4,990,726

864,848

153,700

184,303

6,598,687

Year ended

March 31, 2018

67,392

232,401

4,675,401

715,982

126,700

-

5,817,876

16 Depreciation / Amortization

Particulars

Depreciation - (Refer note 7}

Total

Year ended

March 31, 2019

13,93,598.00

13,93,598.00

Year ended

March 31, 2018

13,40,402.00

13,40,402.00

17 Other Expenses

Particulars

Electricity

Journals & Periodicals

Postage

Printing

Property Tax

Reception Expenses

Rent

Repairs & Maintenance

Stationery

Sundry Expenses

Telephones

Conveyance & Travelling Expenses

Building Insurance

Compliance Expenses

Audit Fees

Professional Fees

Web Designing Expenses

Bank Charges

CC Camera Expenses

Total

17.1

Year ended

March 31, 2019

265,183

94,625

198,249

474,486

180,294

48,801

233,776

1,464,143

43,286

167,107

103,944

99,915

8,650

9,860

30,000

196,680

11,800

1,292

54,200

3,686,291

Year ended

March 31, 2018

235,429

74,624

168,731

264,804

139,764

19,391

220,368

517,333

32,278

163,779

120,560

196,923

6,532

16,040

29,500

178,350

10,000

4,761

-

2,399,167


Sub Notes forming part of Balance Sheet and Income and Expenditure

Particulars

Corpus Fund


Add: Additions during the year

Entrance Fees



Life Membership Reserve



Excess of Income over Expenditure


Add: Excess of Income over Expenditure forthe year

March 31, 2019

5,367,271

5,367,271

1,145,350

325,000

1,470,350

3,280,950

165,000

3,445,950

7,101,686

2,747,683

9,849,369

March 31, 2018

5,367,271

5,367,271

924,350

221,000

1,145,350

2,850,950

430,000

3,280,950

6,410,644

691,042

7,101,686

3,1

3.2

3.3

3.4

Cash and Cash Equivalents

Cash in hand

Cash at Chennai Office

Cash at Secunderabad Office

Cash at Visakhapatnam Office

Cash at Vijayawada Office

Bank Accounts - (Current / Savings A/cs.)

Indian Bank [Chennai]

Indian Bank [Vijayawada]

Andhra Bank

Kotak Mahindra Bank [Chennai]

Kotak Mahindra Bank (Secunderabad)

Kotak Mahindra Bank (Visakhapatnam)

Andhra Bank

Andhra Bank

Indian Bank [FCRA]

Bank Accounts (FD's Maturing 3 months)

City Union Bank

Kotak Mahindra Bank

Karur Vysya Bank

Lakshmi Vilas Bank

Indian Bank

Tamilnad Mercantile Bank

39,114

10,259

16,660

5,596

71,629

46,424

7,345

252,081

41,856

46,391

38,233

9,430

2,252

5,675

449,686

150,000

700,000

1,500,000

1,200,000

200,000

700,000

4,450,000

14,357

11,759

14,629

5,249

45,994

128,338

5,675

161,011

22,558

119,803

116,378

9,430

2,252

5,675

571,119

1,000,000

700,000

800,000

1,200,000

200,000

1,550,000

5,450,000

9.1

9.2

9.3

9.4

17.1

Bank Accounts (Fixed Deposits - Others)

Andhra Bank

City Union Bank

Karur Vysya Bank

Tamilnad Mercantile Bank

Lakshmi Vilas Bank

Indian Bank

Karur Vysya Bank - [Rental Deposit]

Lakshmi Vilas Bank - [Rental Deposit)

Lakshmi Vilas Bank - [ASMEF]

Repairs & Maintenance

Electrical Fittings

Water supply fittings

Cycles

Building

Computers

Lift

Furniture & Fixtures

Air conditioner

-

3,875,000

2,450,000

1,073,849

5,050,000

700,000

-

612,000

764,532

14,525,381

291,073

21,128

1,250

960,984

50,223

31,800

90,506

17,179

1,464,143

800,000

2,575,000

3,150,000

1,073,849

4,050,000

700,000

652,800

612,000

764,532

14,378,181

41,065

16,908

480

336,816

60,926

35,137

7,536

18,465

517,333


7. Fixed Assets & Depreciation as on 31st March 2019

SI.

No.

123

45

67

9101213

PARTICULARS

BuildingMAC & AC LibraryComputer

Fire ExtinguisherElectrical Fittings

Furniture & FixturesLCD Projector

Cycle

CC CameraBio Matric System

Air Conditioners

TOTAL

GROSS BLOCK

At Cost

31.3.2018

1,93,44,916.55

6,58,906 78

4,24,325.00

26,355.00

3,78,071.00

3,47,691 00

55,342.00

9,855.00

35,985.00

9,560.00

4,87,819.00

2,17,78,826.33

Additions

9,904.00

41,013.00

4,68,730.00

28,122.00

1,32,828.00

6,80,597.00

At Cost

31.3.2019

1,93,44,916.55

6,68,810.78

4,24,325.00

26,355.00

4,19,084.00

8,16,421.00

55,342.00

9,855.00

64,107.00

9,560.00

6,20,647.00

2,24,59,423.33

DEPRECIATION

Upto 31. 3.2018

1,19,19,743.55

5,31,575.78

1,19,508.00

21,084.00

1,48,796.00

68,950.00

11,603.00

1,971.00

30,999.00

1,912.00

2,05,272.00

1,30,61,414,33

Rate

55202020152020202020

for the year

9,67,246.00

33,386.00

84,865.00

5,271.00

79,715.00

87,308.00

11,068.00

1,971.00

10,00900

1,912.00

1,10,847.00

13,93,598.00

Upto 31. 3.201 9

1,28,86,989.55

5,64,961.78

2,04,373.00

26,355.00

2,28,511.00

1,56,258.00

22,671.00

3,942.00

41,008.00

3,824.00

3,16,119.00

1,44,55,012.33

NET BLOCK

31.03.2019

64,57,927.00

1,03,849.00

2,19,952.00

0.00

1,90,573.00

6,60,163.00

32,671,00

5,913.00

23,099.00

5,736.00

3,04,528.00

80,04,411.00

31.03.2018

74,25,173.00

1,27,331.00

3,04,817.00

5,271.00

2,29,275.00

2,78,741.00

43,739.00

7,884.00

4,986.00

7,648.00

2,82,547.00

87,17,412.00


NOTES ON ACCOUNTS

1. GENERAL INFORMATION :

Andhra Chamber of Commerce is a voluntary organization registered under theCompanies Act as non profit making body. The principle objects of Chamber are thepromotion and protection of Industry and Trade in India in general and in the statesof Andhra Pradesh, Telangana and Tamilnadu in particular.

The Chamber with the assistance of a panel of Hon. Advisers and Consultants whoare experts in their respective fields, provides free consultancy service to themembers on GST, Labour, Direct Taxes, Customs, Foreign Trade (Export & Import),Patents, Trademarks and Intellectual Property Rights Issues, Company Law,Banking & Finance, Technical Standards, Inspection & Testing and Startups -Business Consultancy. To update the knowledge and skill of the Members and theirExecutives the Chamber organises periodically Training Programmes Seminars,Workshops, Symposia and Executive Development Programmes on various Taxmatters and topics of interest to the trade and industry.

Apart from the above, the Chamber publish Information Bulletin (Monthly) whichcovers News on Chamber activities, information on Tax Laws, Labour Laws,Corporate Laws in addition to Foreign Trade - Export Import, Service Tax, T.N. VAT,A.P. VAT GST, Business Opportunities etc. The publication is sent to all Membersfree of charge.

2. SIGNIFICANT ACCOUNTING POLICIES:

2.1 Basis of Preparation: -

These financial statements have been prepared in accordance with the GenerallyAccepted Accounting Principles in India (Indian GAAP') to comply with theAccounting Standards specified under Section 133 of the Companies Act, 2013, readwith Rule 7 of the Companies (Accounts) Rules, 2014 and the relevant provisions ofthe Companies Act, 2013. The Accounts are prepared on the basis of going concernconcept.


2.2Fixed assets:

Fixed assets are stated at cost, less accumulated depreciation / amortization. Costsinclude all expenses incurred to bring the assets to its present location and condition

Gains or losses arising from retirement or disposal of fixed assets are recognized inthe Profit & Loss account.

2.3 Depreciation:

Depreciation on Fixed Assets has been provided under Straight Line Method

consistently and there is no change in the basis as compared to that of the previousyear.

2.4 Revenue recognition:

i. Income through Information Bulletin (Monthly), issue of certificate of origin andInterest on Bank Deposits are recognized on accrual basis.

ii. Subscription through members is recognized on accrual basis.

2.5 Income Tax:

The Chamber is registered under section 12A of the Income Tax Act as a Trust andeligible for exemption U/s 11 of the Income Tax Act.

a) Assessment year 2009-10 - The Income Tax Officer (ITO) has made anassessment and raised a demand of Rs. 7,70,1777-. The Chamber has filedan appeal before ITAT against the Order of CIT(A). Against the demand of Rs.7,70,177/- the Chamber has paid Rs. 2,87,OOO/-.

ITAT has passed the order for allowing the exemption U7s 11 (vide its orderdated 06.07.2016) and in the matter of depreciation disallowance, the ITAThas directed the Assessing officer to verify the records. After verification of therecords, the ITO (Exemptions) passed order on 29.09.2016 and determinedrefund of Rs.3,83,9607- However, the above refund was adjusted against thedemand of AY 12-13.


b) Assessment year 2012-13 - The Income Tax Officer (ITO) has made anassessment and raised a demand of Rs. 10,92,722/-. The Chamber has filedan appeal before the Commissioner of Income Tax [Appeals] against theaforesaid order. Against the demand of Rs. 10,92,7227- the Chamber has paidRs. 5,50,000/- during the previous year.

The CIT(A) passed order allowing exemption U/s 11 and Depreciation claimU/s 32 of the Income tax act (vide its order dated 31.12.2016) and determinedrefund of Rs.6,43,480/- However, the above refund was adjusted against thedemand for the AY 14-15.

c) Assessment year 2014-15 - ITO has made an assessment and raiseddemand of Rs.10,44,7607- disallowing the exemption U/s11 and Depreciationclaim U/ 32. The company filed appeal with CIT(A).

The CIT(A) has passed an order vide ITA No. 204/16-17/CIT(A)-17, dated8.4.2019 confirming the exemptions u/s 11 and depreciation allowance undersection 32 of the IT. Act.

d) The Chamber has got orders in all appeals made so far, it is in the process ofpreparing and submitting a detailed letter for refund of amount claimed in thereturns filed, as well as the amount paid while preferring appeals together withinterest as applicable.

2.6 Provisions, Contingent Liability and Contingent Assets

Provision involving degree of estimation in measurement is recognized whenthere is a present obligation as a result of past event and it is probable thatthere will be an outflow of resources.

Contingent liabilities are disclosed by way of Notes to accounts. Provisionsare made if those become probable that an outflow of future economicbenefits will be required for an item previously dealt with as a contingent

liability.


2.7 Other Notes

a) Contingent Liabilities: The Management is of the opinion that there are nocontingent liabilities other than those present in normal course of the business.

b) There is a capital commitment of Rs. 1,81,2987- towards purchase of VideoConferencing Equipment to be installed in the first floor meeting hall, wherealready an advance of Rs. 1,81,2987- has been paid towards 50% of the cost.

c) An advance of Rs. 28,73,0007- has been paid towards major renovation of theoffice Building at Chennai. Since work completed till 31.3.2019 could not beascertained, capital work in progress is not arrived at.

There is a capital commitment of Rs. 12,76,7357- towards this contract.

d) Auditor RemunerationAudit Fees

31.03.2019 31.03.201830,0007- 29,5007-

Figures for the previous year have been re-grouped 7 re-arranged, wherevernecessary to conform to current year's presentation.


ForVedam & CompanyChartered AccountantsFRN : 004573S



Sd/-L. VijayaraghavanPartnerMem No. 027371

Sd7- Sd7- Sd7-President Treasurer Secretary General

Place : ChennaiDate : Septembers, 2019

PO Ph :044-28472252v-rv-'- Mob : 9442116888

CHARTERED ACCOUNTANTS

A5-B5, JJ Terrace, New No.26,Old No.14, Judge Jambulingam Road, Dr.R.K Salai, Mylapore, Chennai 600 004.

Email: [email protected]

AUDITOR'S REPORT

To,

The members of


Report on the Standalone Financial Statements

We have audited the accompanying standalone financial statements of M/s. AndhraChamber of Commerce ("the Company"), which comprise the Balance sheet as at31st March 2019 and the statement of Income and Expenditure for the year ended31st March 2019, and a summary of significant accounting policies and otherexplanatory information.

Management's Responsibility for the Financial Statements

The Company's Board of Directors is responsible for the matters in section 134(5) ofthe Companies Act, 2013 ("the Act") with respect to the preparation of thesestandalone financial statements that give a true and fair view of the financial position,financial performance in accordance with the accounting principles generallyaccepted in India, including the Indian Accounting Standards (Ind AS) specifiedunder Section133 of the Act, read with Rule 7 of the Companies (Accounts) Rules,2015. This responsibility also includes the maintenance of adequate accountingrecords in accordance with the provision of the Act for safeguarding of the assets ofthe Company and for preventing and detecting the frauds and other irregularities;selection and application of appropriate accounting policies; making judgments andestimates that are reasonable and prudent; and design, implementation andmaintenance of internal financial control, that were operating effectively for ensuringthe accuracy and completeness of the accounting records, relevant to thepreparation and presentation of the standalone financial statements that give a trueand fair view and are free from material misstatement, whether due to fraud or error.

Auditor's Responsibility

Our responsibility is to express an opinion on these standalone financial statementsbased on our audit. We have taken in to account the provisions of the Act, theaccounting and auditing standards and matters which are required to be included inthe audit report under the provisions of the Act and the Rules made there under andthe Order issued under section 143(11) of the Act.

Patie 1 of 3

VEDAM & CO Ph 04428472252v t-L-r^'v| « \*\s. M o b . 9442116888CHARTERED ACCOUNTANTS

A5-B5, JJ Terrace, New No.26,Old No.14, Judge Jambulingam Road, Dr.R.K Salai, Mylapore, Chennai 600 004.

Email: vedamcompany@yahoo,co.in

We conducted our audit in accordance with the Standards on Auditing specifiedunder section 143(10) of the Act. Those Standards require that we comply withethical requirements and plan and perform the audit to obtain reasonable assuranceabout whether the standalone financial statements are free from material mis-statement.

An audit involves performing procedures to obtain audit evidence about the amountsand disclosures in the standalone financial statements. The procedures selecteddepend on the auditor's judgment, including the assessment of the risks of materialmisstatement of the standalone financial statements, whether due to fraud or error.In making those risk assessments, the auditor considers internal financial controlrelevant to the Company's preparation of the standalone financial statements thatgive true and fair view in order to design audit procedures that are appropriate in thecircumstances. An audit also includes evaluating the appropriateness of accountingpolicies used and the reasonableness of the accounting estimates made byCompany's Directors, as well as evaluating the overall presentation of thestandalone financial statements.

We believe that the audit evidence we have obtained is sufficient and appropriate toprovide a basis for our audit opinion on the standalone financial statements.

OpinionIn our opinion and to the best of our information and according to the explanationsgiven to us, the standalone financial statements give the information required by theAct in the manner so required and give a true and fair view in conformity with theaccounting principles generally accepted in India of the state of affairs of thecompany as at March 31, 2019 and its total comprehensive Income for the yearended on that date;

Report on Other Legal and Regulatory Requirements

As required by section 143(3) of the Act, we report that:

a) We have sought and obtained all the information and explanations which to thebest of our knowledge and belief were necessary for the purposes of our audit.

b) In our opinion proper books of account as required by law have been kept by theCompany so far as appears from our examination of those books.

c) The Balance Sheet and Income and Expenditure account dealt with by thisReport are in agreement with the books of account.

Page 2 of3

\M & CO Ph ;044'28472252V V t-L-'^IVI « ̂ ^- Mob : 94421 16888

CHARTERED ACCOUNTANTS

A5-B5, JJ Terrace, New No.26,Old No.14T Judge Jambulingam Road, Dr.R.K Salai, Mylapore, Chennai 600 004.

Email : [email protected]

d) In our opinion, the aforesaid standalone financial statements comply with theAccounting Standards specified under Section 133 of the Act.

e) On the basis of written representations received from the directors as on 31March 2019, taken on record by the Board of Directors, none of the directors isdis-qualified as on 31st March 2019, from being appointed as a director in termsof Section 164(2) of the Act.

f) In our opinion, the company has, in all material respects, an adequate internalfinancial controls system over financial reporting and such internal financialcontrols over financial reporting were operating effectively as at March 31, 2019,based on the internal control over financial reporting criteria established by theCompany considering the essential components of internal control stated in theGuidance Note on Audit of Internal Financial Controls over Financial Reporting.

g) With respect to the other matters to be included in the Auditor's Report inaccordance with Rule 11 of the Companies (Audit and Auditors) Rules, 2014, inour opinion and to the best of our information and according to explanationsgiven to us:

i. The Company has disclosed the impact of litigations on its financial position inits Standalone financial statements - Refer Note 2.5 to the Financialstatements.

ii. The Company did not have any long-term contracts including derivativescontracts for which there were any material foreseeable losses.

iii. There were no amounts which were required to be transferred to the InvestorEducation and Protection Fund by the company.

For Vedam & companyChartered AccountantsFirm Registration No: 004573S

L. VijayaraghavanPartnerMem No. 027371


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