ANDHRA CHAMBER OF COMMERCE

Vol. LXXIII

February 2020

INFORMATION BULLETIN

PROGRESS THROUGH COMMERCE AND INDUSTRY

www.andhrachamber.com

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Contents

Bulletin Advisory BoArd

Shri Ch. Venkateswara Rao

Vice-President

Shri R.R. Padmanabhan

Chairman,

Foreign Trade and Skill Development

Sub-Committees

Shri V.V. Sampath Kumar

Chairman, Indirect Taxes Sub-Committee

Shri K.n. Suresh Babu

Chairman, Public Relations Sub-Committee

Shri M.K. Anand

Chairman

Information Technology

Computerisation Telecom

and MSME, Subcommittees

Shri V.S. Prasanth Kumar

Co-Chairman

MSME Subcommittee

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Editor And PublisherAndhra Chamber of Commerce, Chennai

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President Desk 03

MSME Lecture Series On “Agile for Value driven Results (With limited resources & time)”, Chennai 04

Interactive session with Commissioner of Customs, Chennai 05

Presentation on “Green Business Initiatives in India”, Chennai 06

FOREIGN TRADE – Statistics 08

Recent Judgements in VAT CST GST by Mr. V.V. Sampath Kumar 12

Kanha Shanti Vanam by Mr. R.R. Padmanabhan 14

Why is ‘compromise’ a dirty word? by Mr. S. Prakash 18

Directors’ Report by Mr. CS.U.Siddharth 20

Consumer Price Index 23

Updation of Membership Details 25

Upcoming Programmes 26

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Dear Members,

The much awaited Central Budget is announced on the 1st February 2020.

The theme oriented budget viz Aspirational India, Economic Development, Caring society are very unique.

This year’s Budget was eagerly awaited by the MSME sector, which contributes 29 percent to the Nation’s GDP and is said to form the backbone of the economy. The Budget announced several initiatives for the sector, including raising the turnover threshold for the audit of accounts to ` 5 crore and a scheme to provide subordinate debts to MSME entrepreneurs.

The budget is in line with the current aspirations and requirements of the citizens of India, and will result in improving infrastructure development and healthcare delivery across the country. “Make in India initiative for the medical devices industry has been given a big boost. Further, imposing health cess on the import of medical devices will help domestic manufacturing companies.

By various other measures proposed in this budget I am confident that India will reach 5 trillion economy level soon.

The Chamber with its effective sub committees will continue to put in efforts to organise various Programmes / Knowledge sharing sessions for the growth of the MSME sector and to promote the trade and Industry.

Thank you.

Dr. V.L. INDIRA DUTTPresident

Pr

esid

ent

des

k

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C H A M B e r

MSME Sub committee of the Andhra Chamber launched the monthly lecture series last month, which is being held on

the first Wednesday of every month.

The topic for this month was “Agile for Value driven results” which was held on the 8th January 2020.

Mr M.K.Anand, Chairman of the MSME Sub committee welcomed the gathering and introduced the speaker Mr.Shivaram Athmakuri, who has over 20 years of industry experience. Mr.Shivaram is Assistant Vice President – Finance, PMI Chennai Chapter. He is a Certified PMP (Project Management Professional from PMI), PMI-ACP (Agile Certified Practitioner), Certified Scrum Master (CSM), Certified Scrum Product Owner (CSPO), Certified Scrum Professional (CSP) and has extensive Technical & Managerial experience. He has played multiple roles such as Delivery Manager, Practice Manager, Project Manager, Solution Architect, Project Lead, Onsite/Offshore model.

Mr.Shivaram in his presentation said that fail fast in the keyword in Agile concept. If you fail fast you can innovate and proceed with the customer delivery fast. Things are changing and Technology has made a positive change.

He very well explained the following 12 principles to get in to Agile.

1. Our highest priority is to satisfy the customer through early and continuous delivery of valuable software.

2. Welcome changing requirements, even late in development. Agile processes harness change for the customer’s competitive advantage.

3. Deliver working software frequently, from a couple of weeks to a couple of months, with a preference to the shorter timescale..

4. Business people and developers must work together daily throughout the project.

5. Build projects around motivated individuals. Give them the environment and support they need, and trust them to get the job done.

6. The most efficient and effective method of conveying information to and within a development team is face-toface conversation.

7. Working software is the primary measure of progress

8. Agile processes promote sustainable development. The sponsors, developers, and users should be able to maintain a constant pace indefinitely.

9. Continuous attention to technical excellence and good design enhances agility.

MSME LECTURE SERIES on

“AGILE FOR VALUE DRIVEN RESULTS” ON THE8TH JANUARY 2020 IN CHENNAI

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10. Simplicity — the art of maximizing the amount of work not done — is essential.

11. The best architectures, requirements, and designs emerge from self-organizing teams.

12. At regular intervals, the team reflects on how to become more effective, then tunes and adjusts its behaviour accordingly.

Mr. Shivaram said that atleast if we follow six principles then it is easy to reach Agile.

He also presented Agile for start ups, Agile for SMEs, Agile for organisations.

If the organisation wants to be Agile then the following things are to be in place

• HR/Finance

• Customer Support

• New Products/Services

• Revamp Legacy Products/Services

The session was well received among the participants. Mr.M.K.Anand in his closing remarks thanked the Speaker for his simple presentation on the big concept. He also briefed the activities of the Andhra Chamber and requested more industry participation in the coming programmes.

INTERACTION mEET wITH THECOmmISSIONER OF CUSTOmSHELD ON THE 21ST JANUARY 2020 IN CHENNAI

To appraise the members about the functions of customs and also the benefits of AEO, Andhra Chamber of Commerce organised

an interaction meet with the Commissioner of Customs on the 21st January 2020 in Hotel Taj Connemara, Chennai.

Dr V.L.Indira Dutt, President of the Chamber in her welcome address said that India is presently known as one of the most important players in the global economic landscape. Government trade policies, reforms and inherent economic strengths and the latest schemes announced by our Hon’ble Prime Minister have attributed to its standing as one of the most sought after destinations for foreign investments in the world. According to a study made by Federation of Indian Export Organisations (FIEO), India’s exports in December touched USD 27.36 billion.

She lauded the efforts of Shri S.Narasimhan, Chairman of Port Affairs, Customs & Shipping sub committee of the chamber for organising this programme for the benefit of the members.

Shri S.Narasimhan, Chairman, Port Affairs, Customs, Shipping, Logistics, Warehousing & Transport, Sub-Committee of ACC then introduced the speakers to the participants.

Ms. Sudha Koka IRS., Commissioner of Customs, Chennai IV, in her address briefed the functioning of customs in detail and also said that the Customs has a MSME facilitation Centre and this was set up with the following objectives.

• Focused Facilitation targeting MSMEs

• Single point of Contact to MSMEs

• Multiple Export related issues resolution at one destination

• Proactive outreach to MSME exporters

• Technology assisted Trade Facilitation to MSMEs

• Instant problem resolution through Live chat

Scope of services of this MSME wing would be for drawback, IGST Refund, to attend to EGM Errors and also on other export related issues.

She also informed that Chennai customs is determined to support and facilitate the MSMEs in the process of import and export of their products. In order to provide seamless support to MSMEs on customs procedures and getting export benefits, a dedicated MSME Sampark app is created to enable MSME contact the Customs officers through Live chat and get their doubts/representations addressed. This app is available both in web and mobile version.

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94th Joint Session on

“GREEN BUSINESS INITIATIVES IN INDIA – BENEFITS & CHALLENGES” ON THE 29TH JANUARY 2020 IN CHENNAI

Ms.Veena, Assistant Commissioner then introduced the AEO Scheme to the participants and requested Mr.Bohra Superintendent to present the Benefits of AEO scheme in detail.

Shri. Bohra in his presentation said that AEO – Authorised Economic Operator is a facilitation programme under the aegis of the World Customs Organisation safe frame work of standards to secure and facilitate global trade. The programme aims to enhance international supply chain security and facilitate movement of legitimate goods.

AEO is a voluntary programme and it enables Indian Customs to enhance and streamline cargo security through close cooperation with the major stake holders in the International supply chain viz. Importers, Exporters, Logistics providers, Terminal operators, Warehouse operators, Customs Brokers etc.

AEO is a facilitation scheme which offers an excellent opportunity for Exporters and Importers to avail certain privileges, benefits and exemptions like waiver of bank guarantee, facility of execution of running bond for terminal operators, exemption from permission in case of transit of goods, faster approval for new warehouses, waiver of solvency certificate, security, renewal of license etc.

He has requested the participants to kindly get in touch with Customs commissioner office for any clarifications on the AEO Registration.

Shri Ennarasu Karunesan, Founder & CEO of UMK Group presented on the latest technology trends in logistics.

Shri C.Nagendra Prasad, Vice President of the Chamber proposed vote of thanks. The programme was well attended by more than 80 member exporters.

The Chamber in association with MMA organises knowledge sharing sessions on various topics on the last Wednesday of

every month, for the benefit of the industry members.

The topic for this month session was on Green Business Initiatives in India – Benefits & Challenges and the speaker was Dr Siva Prasad, Chemical Consultant. Dr.Sivaprasad is a Doctorate in Chemistry from IITM, Chennai.

In his presentation, he said that as the world’s population continues to climb, we are faced with increasing environmental challenges and depleting natural resources. The enormous increase in consumption levels of raw materials, commodities, and energy has created major environmental challenges. It is crucial that we understand that our natural resources are not unlimited. We must be proactive in protecting our planet.

The term sustainability is used to describe the operations and activities that are focused on

preservation of the physical environment so that it can be continued indefinitely with little or manageable impact. Although every citizen has some ethical responsibility towards sustainability, much of the responsibility for ensuring sustainability falls on the shoulders of businesses because they are driving the economic growth. Businesses are under continuous pressure to focus on sustainable development.

In addition to its economic performance, a company must also account for and focus on its environmental and social performance to be truly sustainable. Sustainable manufacturing includes things such as making products using less energy and materials, producing less waste, and using fewer hazardous materials as well as products that have greener attributes such as recyclability or lower energy use.

He also presented on how to minimize water usage and on Energy Conservation and adoption of Renewable Energy models in Business.

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He touched upon E waste and Plastic Waste and also dealt upon waste Management. Sustainable and economically viable waste management must ensure maximum resource extraction from waste, combined with safe disposal of residual waste through the development of engineered landfill and waste-to-energy facilities.

He presented the case studies of the following companies on the green business strategies followed by them.

1. TCS

2. ONGC

3. ITC

4. WIPRO

5. MRF

Finally, he concluded by saying that If everybody individually contributes to the sustainability improvement in all aspects including from waste management to energy at individual level treating the challenges of environment as opportunities, it looks really possible that the global warming and its consequent negative effects can all be reversed saving the plush green mother earth for future generations.

Shri B. Gautham, Co-Chairman, Renewable Energy & Fuel & Risk Management Sub Committee of the Chamber proposed vote of thanks.

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FOreiGn trAdestAtistiCs

India’s overall exports (Merchandise and Services combined) in April-January 2019-20* are estimated to

be USD 446.46 billion, exhibiting a positive growth of 1.94 per cent over the same period last year. Overall

imports in April-January 2019-20* are estimated to be USD 510.62 billion, exhibiting a negative growth of

(-)4.69 per cent over the same period last year.

India’s Foreign Trade (Merchandise): January 2020

* Note: The latest data for services sector released by RBI is for December 2019. The data for January 2020 is an estimation, which will be revised based on RBI’s subsequent release.

I. MERCHAnDISE TRADE

EXPORTS (including re-exports)

Exports in January 2020 were USD 25.97 billion,

as compared to USD 26.41 billion in January 2019,

exhibiting a negative growth of (-) 1.66 per cent.

In Rupee terms, exports were ` 1,85,204 crore in

January 2020, as compared to ` 1,86,801.37 crore

in January 2019, registering a negative growth of

(-)0.86 per cent.

In January 2020, major commodity groups

of export showing positive growth over the

corresponding month of last year are

Cumulative value of exports for the period

April-January 2019-20 was USD 265.26 billion

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(` 18,69,762.61 crore) as against USD 270.49

billion (` 18,89,062.68 crore) during the period

April-January 2018-19, registering a negative growth

of (-)1.93 per cent in Dollar terms (negative growth

of (-)1.02 per cent in Rupee terms).

Non-petroleum and Non Gems and Jewellery

exports in January 2020 were USD 19.79 billion,

as compared to USD 19.94 billion in January

2019, exhibiting a negative growth of (-)0.78 per

cent. Non-petroleum and Non Gems and Jewellery

exports in April-January 2019-20 were USD 197.60

billion, as compared to USD 197.59 billion for the

corresponding period in 2018-19.

IMPORTS

Imports in January 2020 were USD 41.14 billion

(` 2,93,418.56 crore), which was 0.75 per cent

lower in Dollar terms and 0.07 per cent higher in

Rupee terms over imports of USD 41.46 billion

(` 2,93,225.37 crore) in January 2019. Cumulative

value of imports for the period April-January 2019-

20 was USD 398.53 billion (` 28,08,202.38 crore),

as against USD 433.77 billion (` 30,30,317.38

crore) during the period April-January 2018-19,

registering a negative growth of (-)8.12 per cent in

Dollar terms (negative growth of (-)7.33 per cent in

Rupee terms).

Major commodity groups of import showing

negative growth in January 2020 over the

corresponding month of last year are:

CRUDE OIL AnD nOn-OIL IMPORTS:

Oil imports in January 2020 were USD 12.97

billion (` 92,502.86 crore), which was 15.27 per

cent higher in Dollar terms (16.21 per cent higher

in Rupee terms), compared to USD 11.25 billion

(` 79,596.67 crore) in January 2019. Oil imports

in April-January 2019-20 were USD 108.66 billion

(` 7,65,950.42 crore) which was 9.24 per cent lower

in Dollar terms (8.53 per cent lower in Rupee terms)

compared to USD 119.72 billion (` 8,37,369.22

crore), over the same period last year.

In this connection it is mentioned that the

global Brent price ($/bbl) has increased by 7.31%

in January 2020 vis-à-vis January 2019 as per data

available from World Bank.

Non-oil imports in January 2020 were estimated

at USD 28.17 billion (` 2,00,915.70 crore) which

was 6.72 per cent lower in Dollar terms (5.95 per

cent lower in Rupee terms), compared to USD 30.20

billion (` 2,13,628.70 crore) in January 2019. Non-

oil imports in April-January 2019-20 were USD

289.87 billion (` 20,42,251.96 crore) which was

7.70 per cent lower in Dollar terms (6.87per cent

lower in Rupee terms), compared to USD 314.04

billion (` 21,92,948.16 crore) in April-January

2018-19.

Non-Oil and Non-Gold imports were USD

26.59 billion in January 2020, recording a negative

growth of (-)4.66 per cent, as compared to Non-

Oil and Non-Gold imports of USD 27.89 billion

in January 2019. Non-Oil and Non-Gold imports

were USD 265.23 billion in April-January 2019-20,

recording a negative growth of (-)7.59 per cent, as

compared to Non-Oil and Non-Gold imports USD

287.00 billion in April-January 2018-19.

II. TRADE In SERVICES

EXPORTS (Receipts)

As per the latest press release by RBI dated 14th

February 2020, exports in December 2019 were

USD 20.00 billion (` 1, 42,413.68 crore) registering

a positive growth of 11.59 per cent in dollar terms,

vis-à-vis December 2018. The estimated value of

services export for January 2020* is USD 20.92

billion.

IMPORTS (Payments)

As per the latest press release by RBI dated 14th

February 2020, imports in December 2019 were

USD 12.56 billion (` 89,382.31 crore) registering a

positive growth of 10.36 per cent in dollar terms, vis-

à-vis December 2018. The estimated value of service

Import for January 2020* is USD 13.10 billion.

III. TRADE BALAnCE

MERCHAnDISE: The trade deficit for January

2020 was estimated at USD 15.17 billion as against

the deficit of USD 15.05 billion in January 2019.

SERVICES: As per RBI’s Press Release dated 14th

February 2020, the trade balance in Services (i.e. Net

Services export) for December, 2019 is estimated at

USD 7.45 billion.

OVERALL TRADE BALAnCE: Taking

merchandise and services together, overall trade

deficit for April-January 2019-20* is estimated

at USD 64.16 billion as compared to USD 97.79

billion in April-January 2018-19.

*note: The latest data for services sector released by RBI is for December 2019. The data for January 2019 is an estimation, which will be revised based on RBI’s subsequent release.

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MeRCHANdIse TRAdeEXPORTS & IMPORTS: (US $ Billion)

(PROVISIOnAL)

JAnUARy APRIL–JAnUARy

EXPORTS (including re-exports)

2018-19 26.41 270.49

2019-20 25.97 265.26

%Growth 2019-20 / 2018-19 -1.66 -1.93

IMPORTS

2018-19 41.46 433.77

2019-20 41.14 398.53

%Growth 2019-20 / 2018-19 -0.75 -8.12

TRADE BALAnCE

2018-19 -15.05 -163.27

2019-20 -15.17 -133.27

EXPORTS & IMPORTS: (Rs. Crore)

(PROVISIOnAL)

JAnUARy APRIL–JAnUARy

EXPORTS (including re-exports)

2018-19 1,86,801.37 18,89,062.68

2019-20 1,85,204.00 18,69,762.61

%Growth 2019-20 / 2018-19 -0.86 -1.02

IMPORTS

2018-19 2,93,225.37 30,30,317.38

2019-20 2,93,418.56 28,08,202.38

% Growth 2019-20 / 2018-19 0.07 -7.33

TRADE BALAnCE

2018-19 -1,06,424.00 -11,41,254.70

2019-20 -1,08,214.56 -9,38,439.77

seRVICes TRAdeEXPORTS & IMPORTS (SERVICES): (US $ Billion)

(Provisional) DECEMBER 2019 APRIL-DECEMBER 2019-20

EXPORTS (Receipts) 20.00 160.27

IMPORTS (Payments) 12.56 98.99

TRADE BALANCE 7.45 61.28

EXPORTS & IMPORTS (SERVICES): (` Crore)

(Provisional) DECEMBER 2019 APRIL-DECEMBER 2019-20

EXPORTS (Receipts) 1,42,413.68 11,28,639.25

IMPORTS (Payments) 89,382.31 6,97,158.95

TRADE BALANCE 53,031.37 4,31,480.30

Source: RBI Press Release dated 14th February 2020

note: The latest data for services sector released by RBI is for December 2019. The data for January 2020 is an estimation, which will be revised based on RBI’s subsequent release.

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ReCeNT JudgeMeNTs IN

VAt Cst GstShri V.V. Sampathkumar

Chairman, Indirect Taxes Sub-Committee, ACC

Application of Mind: Though the AO has

chosen to extract entire detailed reply/objection of

the petitioner in the assessment order, unfortunately

he has not chosen to discuss any of those objections

as to how they are not sustainable. The Court

held that the orders of assessment passed without

application of mind to the objections raised and

in violation of the principles of natural justice and

set aside the order and remitted it back to the AO.

Gagan Media Private Ltd., Vs STO, Pondy Bazar

Assessment Circle. W.P.nos.1366, 1369, 1371 &

1372 of 2019 DATED: 22.01.2019

C form: The Assessing Officer denied the benefit

of C form solely relying upon the endorsement “Self ”

in the column “assessee name and address.” For the

above reasons, while affirming the order passed earlier

by the learned Single Bench directed the appellant to

go before the Appellate Authority. Tvl.SPX Thermal

Equipment and Services India Pvt. Ltd., vs AC

(CT), Vallurvarkottam Assessment Circle, W A

no. 2813 of 2018 DATED :04.04.2019

Opportunity of personal hearing: The

petitioner assails the assessment on the short point

of violation of principles of natural justice. As the

respondent does not raise any serious objection to

give the petitioner the benefit of doubt in the matter,

the impugned order of assessment is set aside and

fixed the personal hearing for the appearance of

the petitioner before the AO. Tvl. Sri Someswara

Electricals, Krishnagiri Post Vs. AC(ST),

Krishnagiri Assessment Circle, W.P.no.33569 of

2018 DATED: 10.04.2019

Stay Order modification: Taking into account

the position that the petitioner has remitted 25%

the tax component as directed by the first appellate

authority in stay order, the petitioner is permitted

to furnish a personal bond in respect of the balance

of tax of 50% of the disputed tax and penalty M/s.

Veekay Diamants vs. AC, Peddunaickentpet

Assessment Circle, WP. no.10660 of 2019

DATED: 12.04.2019

Alternative Remedy: Learned counsel for the

appellant has vehemently contended that equal time

addition in turnover is totally unwarranted. It is also

submitted that when the AO, failed to exercise his

quasi-judicial function of completing the assessment,

such assessment orders are liable to be struck down.

The Court held that all the above aspects of the

issues can be raised before the Appellate Authority

and held that there is no error in the order passed by

ARTICLES fROM MEMBERS

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the learned Single Judge for alternative remedy. M/s.

Sridhar and Co., vs. STO, Ambur, Assessment

Circle, W A no.1431 of 2019 dated: 24.4.2019

form I filed later: Form I submitted post

assessment can also be taken into account and there

can be revision of earlier assessment. Schneider

Electric IT Business India Private Limited Vs

STO, Adyar Assessment Circle, W.P.no.10681 of

2019 DATED: 04.06.2019

Writ petition: Petitioner did not respond to

the summons as well as the pre-assessment notice.

Petitioner had not even sent a reply seeking time

and one and half years’ time has elapsed. This

writ petition has been filed after one year later of

receipt of impugned proceedings. In view of these,

the petitioner now cannot assail the impugned

order in WP. Sri Balaji Traders vs. AC (CT)

(fAC) Cuddalore (Town) Assessment Circle

W.P.no.14602 of 2019 Dated: 04.06.2019

Personal Hearing: Regarding the personal

hearing aspect of the matter, impugned orders are

silent and hence this takes the Court to grant of

personal hearing and remanded the matter with

directions. East Coast Constructions & Industries

Limited Vs AC (ST) nungambakkam Assessment

Circle, W.P.nos.3079… DATED :25.06.2019

Opportunity: No response was there from

petitioner for the notices including the personal

hearing due to the accident of the Assessee and was

under medical treatment. This Court of the view that

the petitioner should be afforded one opportunity to

set things in order. Vijay Industries Vs.The Assistant

Commissioner, Palani. W.P(MD).nos.14259 and

14260 of 2019 DATED : 26.06.2019

C form: Issuing of C form for the purchase of

High Speed Diesel is permitted and the judgment

in the case of M/s. Ramco Cements Ltd &

Others in W.P.Nos. 19458/2018 to 19460/2018

can be extended to other dealers also. M/s. Sri

Ganesshmurugan Blue Metals, Karur 639 206.

Vs.AC (ST), Karur (West) (C) Assessment Circle.

W P no.35077 of 2019 DATED: 18.12.2019

Mismatch: Mismatch issue of purchase

transactions reflected in the annexures to the returns

of turnover filed by the petitioner and those reflected

in the annexures of the selling dealers is covered

by an order in The AC (CT) V. M/s.Althaf Shoes

(P) Ltd. (W.A.Nos.1367 and 1368 of 2016 dated

10.11.2016) and another order reported in 99

VST 343 (JKM Graphics Solution) Sri Vinayaka

Agency Coimbatore Vs The STO, Perur Circle,

Coimbatore. W.P. nos.35241 and 35242 of 2019

DATED: 19.12.2019

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Shri. R R Padmanabhan Chairman,Foreign Trade and

Skill Development Sub-Committees, ACC.

kANHA sHANTI VANAM

An Oasis of Peace!As you head from the Hyderabad to Bangalore by road, you

cross the borders of Ranga Reddy district. At right, you

find a police chowk with an arrow mark that announces

that the road leads to Kanha Shanthi Vanam. The road winds down

for a few kilometers - road is not that great with mud topping and

your vehicle negotiates ups and downs and finally alas you reach

the gates of Kanha Shanthi Vanam, the International Headquarters

of Heartfulness Institute, an arm of Shri Ram Chandra Mission

(SRCM)

Thousands assembled from all parts of Globe here to

commemorate the three important events togetherduring the last

week of Jan 2020. The three important events are 147 th Birth

anniversary of Pujyashri Lalaji Maharaj, the Adhi Guru of the Sahaj

Marg system of meditation, 75th year of founding of Shri Ram

Chandra Mission – the organization founded by Pujyashri Babuji

Maharaj, a disciple and successor to Lalaji Maharaj and successful

completion and inauguration of world’s largest meditation centre.

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The hall can accommodate more than 100000

people to meditate.

Spread across 165 countries and practiced

by more than 4 millions who are from different

religions and social background, the Sahaj Marg

system of meditation offers a practicant modified

Raja yoga to suit the needs of modern man. The

method of practice of this meditation involves

three components namely Meditation, Cleaning

and Prayer. These are to be done in the morning,

evening and at night before going to bed

respectively. The method is so simple and

does not demand much of one’s time and

energy. In fact, abhyasis (practitioners)

vouch for daylong energy and ability to

see things in the right perspective as they

are armed with the technique.

The initiation to the system of meditation is

free! The uniqueness of the system is transmission

of divine energy that is not to be seen in any other

system of meditation. The only requirement to be

initiated in to this practice is willingness to try it out

and of course, age is restricted to above 15 years of

age.

The President of Shri Ram Chandra Mission is

also known as Master. The current Master is Shri

Kamlesh D Patel, affectionately called as Daaji

kANHA sHANTI VANAM

An Oasis of Peace!

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Maharaj. He is the fourth in lineage of Masters

starting from Adhi Guru, Pujyashri Lalaji Maharaj,

followed by Pujyashri Babuji Maharaj and Pujyashri

Chariji Maharaj. All the Masters of the mission were

all leading normal family lives while at the same time,

guiding the abhyasis in their spiritual endeavors.

The Sahaj Marg way of life emphasizes balancing

both needs of human beings namely spiritual and

material.

Considering the abhyasi turnout from all parts

of the world, the celebration was phased in to three

batches, the first being Jan 27,28 and 29, Feb 2,3

and 4 and Feb 7,8 and 9. It was a sight to watch

with 50000 plus people having assembled, there

was no rise in decibel levels. It was not

an eerie silence either. As one of

the comperes was saying ‘the

silence was speaking’. I

should say it was the sound

of silence! All one could

notice in everyone’s face

was peace, cheer and

belongingness.

Babaji Ramdev

was the Chief Guest

for the first batch. He

demonstrated asanas

for a variety of ailments

like diabetics, triglycerides

and thyroid. I understand that he

himself was a classic case of recovery and

transformation using yoga practice. He was affected

by stroke on the left side! The complementarity of

yogic exercises of Baba Ramdev and mind tuning

nature of Heartfulness meditation could be felt in

the address of Pujayashri Daaji and Baba Ramdev.

Baba Ramdev said, “We are all one” meaning coming

together of two movements.

The second batch saw the galaxy of VIPs by no

less than the Honorable President of India Shri

Ram Nath Govind. He proudly proclaimed that

he has been an active abhyasi of Shri Ram Chandra

Mission. In his address, he narrated his experiences

as an abhyasi for the past 20 years. Along with him

present were Honorable Governor of Telengana,

Shrimathi Tamilisai Soundararajan and the

Honorable Governor of Himachal Pradesh, Shri

Bandaru Dattatreya. It must have been a nightmare

for the security personnel considering the turnout

of people. But everyone was at peace! The whole

place was spiritually charged! The President of India

proudly thundered “Spirituality India’s gift to world”

The third and concluding part of the Celebrations

started on the 7th Feb. On this occasion, Daaji

released his message on the most important issue

pertaining to humanity “Understanding Anger”.

The message dissected Anger, its components,

rise and fall and its management

through Heartfulness Meditation.

The highlight of the closing

part was the presence and

address of youth sensation

PV Sindhu. Addressing

the gathering after

the satsangh, she

narrated her experience

as a Heartfulness

practitioner and how it

helped her to stay calm

even in the face of adverse

conditions!

The penultimate day also saw

an award by ‘The Brand story’. The

award was conferred on the Revered Daaji

Maharaj as India’s most admirable leader in the field

of social and spirituality for the current year for his

contribution as ‘Change Maker’.

The mission these days has embraced technology

fully. The entire function was telecast live! Those who

missed the celebrations could participate in satsangh

(group meditation) in the comforts of their drawing

rooms! There is an app, Heartfulness downloadable

both in android and apple versions. Many videos are

available in YouTube channel demonstrating the how

to do of meditation and cleaning for new seekers.

17

Kanha Shanti Vanam was notified as a Village by the state

Government of Telengana. Actually, the area is more than

1000 acres. It has created a forest of more than lakh trees

– what was once a barren land! Of these, 1000 uprooted

trees have been restored back to life. These trees were

uprooted either by natural calamity or by road widening

projects. The result is the transformation of entire Eco

system of the surrounding areas with increase in water table

and green cover.

Logistics for the celebrations was worked out almost to the

precision! My wife and myself landed up in Hyderabad airport at

about 9 pm on the 28th January. There was one from the mission

greeting with a placard to receive me. Stay is possible through Dorms

both paid and free types (in fact free types are more). Food is served free.

Paid Canteens are also available serving different cuisines. It was heartening to

see elders being given preference and care either when they stand in queue for food or

being offered lower bunks for stay. No crowding around the counters! Discipline

and Devotion go together! It was a sight to watch! Spread over 1000 acres,

it is really difficult for elders and the challenged to go round without

vehicles. But during celebrations no personal transport is permitted.

Golf carts ply regularly connecting dorms, canteen and dining and

meditation halls.

Heartfulness way of life is a journey of joy, inner peace, empathy

and being a human being!

(The views expressed are solely of the author)

There’s real power in being positive... but to

benefit from this power you have to avoid

negative thinking at all costs.

This is the time to be positive and avoid negative

thinking at all costs. Negative thoughts will ruin your

life. Instead, fill your mind with positive thoughts.

Today and everyday think of all the great things

that are taking place in your life. I want you to fill

your mind with positive thoughts so that you enjoy

your life. So that you get more of what you want and

less of what you don’t want. So that you experience

joy, happiness and success in every area of your life.

If you’re with family during the holiday season

then appreciate the positive things about them.

Don’t focus on the negative. If you’re on your own

then think of all the positive things that happened

to you this year and that continue to enter your life

every day.

Each day there are numerous positive events

and things that happen in our lives, but you often

overlook them, or take them for granted.

When you take a moment to appreciate the

positive things and begin to fill your mind with

positive thoughts you begin to attract positive events,

people and situations into your life.

But when you have negative thoughts, you

create negative events and you attract more negative

situations into your life... not something you really

want to do. Negative thoughts and negative thinking

lead to a negative life.

When negative thoughts enter your mind they

can quickly spread like wildfire and before you know

it they fill your mind, and kick out all the positive

thoughts. Negative thoughts are like a cancer of the

mind. If not caught early and removed they can

and will destroy your life. Many times the negative

cycle begins with just a single, meaningless negative

thought.

That negative thought leads to another negative

thought, then another and before you know... the

wildfire has begun and getting rid of those negative

thoughts might seem impossible. But you can

eliminate the negative thinking when you take

control of your mind and direct your subconscious

mind to attract what you want in life.

You can begin by filling your mind with positive

thoughts. This will begin to move the mind in a new

Article by Mr. S. Prakash

Why is

‘compromise’a dirty Word?

18

direction. At first you might find it difficult to think

positive thoughts. You may even say: “I can’t think of

anything positive in my life.” You only feel this way

because you’re so used to having negative thoughts.

But as you push your mind to be more positive

the process will get easier.

Next, eliminate the negative thoughts.

Track your thoughts and anytime you catch

yourself having a negative thought, remove it or

eliminate it. Then replace it with a positive thoughts.

Now you begin to move your mind in a new

direction. Next, start directing your subconscious

mind to create what you want by regularly thinking

of what you want.

Feed your mind and subconscious mind positive

information and you’ll attract positive situations into

your life. Give your mind and subconscious mind

the directions to help you succeed.

Your thoughts and beliefs are the fuels that drive

your subconscious. Feed your subconscious negative

thoughts and negative beliefs and you’ll stall your

engine. That means you won’t be able to achieve your

goals. Feed your subconscious positive thoughts and

positive beliefs - and you turbo charge yourself to

success.

Start changing your thoughts today. Begin

directing your mind and subconscious mind to help

you live the life you want and achieve your goals.

Your subconscious mind responds to your

thoughts and beliefs. Your attitude is an extension of

those thoughts and beliefs. Begin feeding your mind

and subconscious mind positive messages and you

begin creating a positive lifestyle.

(The views expressed are solely of the author)

19

20

Article by CS.U.Siddharth

DIRECTORS’REPORT

Introduction:

Under earlier dispensation, a separate

section 217 of the Companies Act, 1956

connected to the Report of Directors. But

in the new the Companies Act, 2013 as updated, a lot

of sections deal with various disclosures required in

the Director Report. Furthermore, a listed company

is required to comply with disclosures requirement

stated under the Securities and Exchange Board

of India (Listing Obligations and Disclosure

Requirements) Regulations, 2015.

THE INSTITUTE OF COMPANY

SECRETARIES OF INDIA (ICSI) has also dealt

with copiously in its Guidance Note on Report of

the Board of Directors.

Basis of Board Report:

The Board’s Report shall be prepared based on

the respective ‘Stand alone Financial Statement of

the Company’, and should relate to the financial year

for which such financial statement is prepared.

But the Board’s Report shall contain a Separate

section wherein a report on the performance and

financial position of each:

• Subsidiary

• Associate

• Joint venture companies, including in the

consolidated financial statement is presented.

Authorization by Directors - Directors Report:

The Director’s Report shall be approved in the

Meeting of Board of Directors and it shall be ensured

that:

- Approval of Directors report shall not be done

by “Circular Resolution” or “by committee”.

- Meeting for approval of Directors report shall

not be performed by “Video Conferencing”.

Who should sign of Director’s Report? - refer Sec

134(6)

• A Chairperson (if authorized by the Board of

directors of the Company)

• Where, Chairperson is not authorized by

Board, then by at least 2 Directors, one of

whom shall be a Managing Director, if there

is no Managing Director then by 2 Directors.

E-filing of Resolution approving Board Report:

Post passing the resolution on approving

Board Report, it should be ensured without fail

the Resolution is filed with ROC in Form MGT

- 14, within 30 days from the date of passing the

resolution.

What are the sections that deal with the Directors

Report?

Section 134 under various sub-sections deal with

the Directors Report along with various other sections

referred to in the section, connected therewith.

Contents of Board Report:

As per sec. 134(3), a report by its Board of

Directors, shall be attached to statements laid before

a company in general meeting which shall include –

The Web address of the company

Number of meetings of the Board

Directors’ Responsibility Statement as per Section

134(5) of the Companies Act,2013

Details in respect of frauds reported by Auditors

Statement of Declaration given by Independent

Directors

Change in the nature of business

Company’s Policy on Directors

Comments by the Board on every qualification,

reservation or adverse remark made by Auditor in

his report.

Comments on Secretarial Audit Report

Particulars of loans, guarantees or investments

Particulars of Related Party Disclosures

The state of Company’s affairs

The amount, if any, which the Board proposes to

carry to any reserve

Dividend details

Details relating to Deposit

Material Changes and commitments

The conservation of energy, technology

absorption, foreign exchange earnings and outgo.

Implementation of Risk Management Policy

CSR Policy

Details of adequacy of Internal Financial Controls

format of Directors’ Responsibility Statement as

per Sec. 134(5)

To the best of their knowledge and belief, and

according to the information and explanations

obtained by them, your Directors confirm the

following in terms of Section 134 of the Companies

Act, 2013 and the Rules made there under :-

• in the preparation of the annual accounts, the applicable accounting standards followed along with proper explanation relating to material departures;

• had selected such accounting policies and applied them consistently and made judgments and estimates that are reasonable and prudent so as to give a true and fair view of the state of affairs of the company at the end of the financial year and of the profit and loss of the company for that period;

• taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions of this Act

21

for safeguarding the assets of the company and for preventing and detecting fraud and other irregularities;

• had prepared the annual accounts on a going concern basis;

• The directors, in the case of a listed company, had laid down internal financial controls to be followed by the company and that such internal financial controls are adequate and were operating effectively.

• Had devised proper systems to ensure compliance with the provisions of all applicable laws and that such systems were adequate and operating effectively.

Major events occurred during the year:

The disclosure under this heading should include a brief description of the nature of business of the company specifying growth achieved in terms of volume of the key products/services of the company, structural changes in the business, new acquisition and development of Intellectual Property Rights, joint ventures and strategic business and technological agreements, divestments, mergers and acquisitions undertaken during the year, etc. Since

listed companies also present consolidated financial statements, it is necessary that the key highlights should also include material events relating to subsidiary (ies) which have impacted the state of

affairs of the company.

In order to determine whether a particular event or

information of a subsidiary is material in nature and

will impact the affairs of the company, the company

should consider various criteria which could inter

alia include whether there would be any direct or

indirect impact on the reputation of the company or

the omission of an event or information in the Report

will either result in any discontinuation or alteration

of an event or information already available publicly

or is likely to result in significant market reaction if

the said omission came to light at a later date.

fILInG AnD SUBMISSIOn Of THE REPORT:

Sub-section (1) of section 137 of the Act provides

that a copy of the financial statements, including

consolidated financial statement, if any, along with

the Directors’ Report duly adopted at the Annual

General Meeting of the company, shall be filed with

the Registrar within thirty days of the date of Annual

General Meeting.

22

CONSUMER PRICE INDEX NUMBERS FOR INDUSTRIAL WORKERS

(BASE 2001=100)

sl. No Centre dec 2019

ALL INdIA 330

ANdHRA PRAdesH

1. Guntur 303

2. Vijayawada 309

3. Visakhapatnam 316

AssAM

4. Doom Doom Tinsukia 303

5. Guwahati 292

6. Labac-Silchar 285

7. Mariani Jorhat 281

8. Rangapara Tezpur 268

BIHAR

9. Munger Jamalpur 367

10. CHANdIgARH 325

CHHATTIsgARH

11. Bhilai 344

12. delhi 311

13. Goa 343

guJARAT

14. Ahmedabad 299

15. Bhavnagar 309

16. Rajkot 309

17. Surat 289

18. Vadodra 295

HARAYANA

19. Faridabad 289

20. Yamunanagar 312

HIMACHAL PRAdesH

21. Himachal Pradesh 283

JAMMu & kAsHMIR

22. Srinagar 292

JARkHANd

23. Bokaro 321

24. Giridih 370

25. Jamshedpur 380

26. Jharia 380

sl. No Centre dec 2019

27. Kodarma 406

28. Ranchi Hatia 418

kARANATAkA

29. Belgaum 324

30. Bengluru 308

31. Hubli-Dharwar 353

32. Mercara 326

33. Mysore 323

keRALA

34 Ernakulam 332

35. Mundakayam 337

36. Quilon 372

MAdHYAPRAdesH

37. Bhopal 345

38. Chhindwara 329

39. Indore 297

40. Jabalpur 337

MAHARAsHTRA

41. Mumbai 322

42. Nagpur 405

43. Nasik 380

44. Pune 357

45. Sholapur 347

ORIssA

46. Angul Talcher 346

47. Rourkela 342

48. PUDUCHERRY 334

PuNJAB

49. Amritsar 357

50. Jalandhar 340

51. Ludhiana 317

RAJAsTHAN

52. Ajmer 300

53. Bhilwara 308

54. Jaipur 326

23

sl. No Centre dec 2019

TAMILNAdu

55. Chennai 295

56. Coimbatore 307

57. Coonoor 349

58. Madurai 323

59. Salem 311

60. Tiruchirapally 322

TeLANgANA

61. Godavarikhani 348

62. Hyderabad 278

63. Warangal 332

TRIPuRA

64. Tripura 280

uTTAR PAdesH

65. Agra 377

Source: Labour Bureau, Shimla

sl. No Centre dec 2019

66. Ghaziabad 350

67. Kanpur 361

68. Lucknow 358

69. Varanasi 356

WesT BeNgAL

70. Asansol 356

71. Darjeeling 290

72. Durgapur 338

73. Haldia 369

74. Howrah 305

75. Jalpaiguri 295

76. Kolkata 303

77. Raniganj 316

78. Siliguri 302

24

25

UPDATATION OF MEMBERSHIP DETAILS

Kind Attn: Members

Dear Sir/Madam;

We are updating the database – Members business details in our records. We request you to kindly

inform the Chamber if there are any changes in your mailing list – Address, contact details, Name of the

representative, change in the Email-ids and Telephone numbers in the below mentioned format.

Please forward the same to the Chamber by Email: andhrachamber1@gmail.com duly filled in for

making necessary changes in our records. Please extend your cooperation support in this regard without

delay.

name of the company / individual

postal Address

Telephone

fax

Mob

Email

Est.

Website

GST no

name of the representative –

Designation in the company

Bank

Manufactures of

Exporters of

Importers of

26

uPCOMINg PROgRAMMes

Dr. V.L. INDIRA DUTTPresident

&Members of the Executive Committee of the

ANDHRA CHAMBER OF COMMERCE&

MADRAS MANAGEMENT ASSOCIAT IONcordially invite you to a presentation on

“ T h e E r a o f C o n v e n i e n t B a n k i n g ”

by

Ms. J. Lalitha, Ex-Banker

at 6.00 P.M. on Wednesday, the 26th February 2020

at Chamber's Conference Hall, “Velagapudi Ramakrishna Building”,

23, Third Cross Street, West C.I.T. Nagar, Nandanam, Chennai-600 035.

R.S.V.P.: SECRETARY GENERALPhone: 24315277/78Email: andhrachamber1@gmail.com

Tea - 5.30 P.M.

Picture Gallery MsMe Lecture series on “Agile for Value driven Results” - Jan 8, 2020

27

Interactive session with Commissioner of Customs - Jan 21, 2020

28

MMA - green Business Initiatives in India - Jan 29, 2020

29

30

12 Issues of each 1/2 page will be 12500/- per annum plus GST

12 Issues of full page will be 20,000/- per annum plus GST

First come first serve basis the space will be allotted. Member organisations will be give first preference. We welcome your support

to have more reach out and more viewing for your Advt and Business.

Please contact Mr. n. ravikumar, Joint Secretary, Andhra Chamber of Commerce

Tel : + 91 44 24315277 +91 9840248688Email : andhrachamber1@gmail.com

ACC Bulletin - Advt tariff

Edited, Published and Printed by Andhra Chamber of Commerce at

“Velagapudi Ramakrishna Building”, #23, Third Cross Street, West C.I.T. Nagar, Nandanam,

P.B. No.3368, Chennai-600 035. (Phones: 044 - 2431 5277 / 2431 5278 / 2431 5279)

Email ID: andhrachamber@airtelmail.in / andhrachamber1@gmail.com

secretary@andhrachamber.com

our other Chapters

SECUnDERABAD OffICE:

“T.G. Venkatesh Bhavan”, 602 & 603, Chenoy Trade Centre, 116, Park Lane, VI Floor, P.B. No. 1716,

Secunderabad – 500 003, Telangana State. Phone: 040-27840844, Fax: 040-27840767;

Email: andhrachamber@gmail.com | Shri G. Ramanjaneyulu, Deputy Secretary.

VISAKHAPATnAM OffICE:

Door No. 43-19-30, Venkataraju Nagar, Dondaparthy, Near T.S.N. Colony, Visakhapatnam – 530 016,

Andhra Pradesh. Phone: 0891-2792220, Fax: 0891-2792221, Email: andhrachamberofcommercevizag@gmail.com

SHRI V. THRInADHA RAO, Deputy Secretary.

VIJAyAWADA OffICE:

Siddhartha Hotel Management College Premises, Pinnameneni Poly Clinic Road, Technical Nagar,

Vijayawada – 520 010 (A.P). Phone: 0866-2472500, Email: andhrachambervijayawada@gmail.com

SHRI n. RAJA RAO, Joint Secretary.

               

In the service of Public for more than 56 years  

Winning client’s trust with unmatched professionalism

Investigation •   Pre  &  Post  Matrimonial •   Pre  &  Post  Employment •   Industrial  Theft  &  Fraud •   Undercover  Operation

FOR TOTAL SECURITY SOLUTIONS IN INDIA

GLOBE DETECTIVE AGENCY

Security •   Consultation •   Trained  Man  Power •   24  x  7  Control  Room •   Client  Support

Facility •   House  Keeping •   Pantry  Services •   Guest  House  Mgmt •   Garden  Member

Electronics •   Access  Control •   Burglar  Alarm •   Fire  Alarm •   CCTV

Chennai No.152, Agurchand Mansion , Mount Road, Chennai-600 002. Tel: +91–44–42919500–599; E-mail: chennai@globedetective.com Bengaluru Tel: +91-80-25717905/06;

E-mail: bangalore@globedetective.com; Delhi Tel: +91–11–26432221/26432681; E-mail: delhi@globedetective.com Mumbai Tel: +91-22-22028751/22023578; Email: mumbai@globedetective.com Ahmedabad, Ambur, Coimbatore, Jamshedpur, Kochi, Kolkata, Lucknow, Madurai, Mysore, Puducherry, Pune, Secunderabad, Sriperumbudur, Vapi, Vizag.

www.globedetective.com

31

               

In the service of Public for more than 56 years  

Winning client’s trust with unmatched professionalism

Investigation •   Pre  &  Post  Matrimonial •   Pre  &  Post  Employment •   Industrial  Theft  &  Fraud •   Undercover  Operation

FOR TOTAL SECURITY SOLUTIONS IN INDIA

GLOBE DETECTIVE AGENCY

Security •   Consultation •   Trained  Man  Power •   24  x  7  Control  Room •   Client  Support

Facility •   House  Keeping •   Pantry  Services •   Guest  House  Mgmt •   Garden  Member

Electronics •   Access  Control •   Burglar  Alarm •   Fire  Alarm •   CCTV

Chennai No.152, Agurchand Mansion , Mount Road, Chennai-600 002. Tel: +91–44–42919500–599; E-mail: chennai@globedetective.com Bengaluru Tel: +91-80-25717905/06;

E-mail: bangalore@globedetective.com; Delhi Tel: +91–11–26432221/26432681; E-mail: delhi@globedetective.com Mumbai Tel: +91-22-22028751/22023578; Email: mumbai@globedetective.com Ahmedabad, Ambur, Coimbatore, Jamshedpur, Kochi, Kolkata, Lucknow, Madurai, Mysore, Puducherry, Pune, Secunderabad, Sriperumbudur, Vapi, Vizag.

www.globedetective.com

32

33

THE KCP LIMITED

CEMENT PLANT MUKTYALA CEMENT PLANT MACHERLA

SUGAR INDUSTRY

VIETNAM

HEAVY ENGINEERING

CHENNAI

POLAVARAM PROJECT

SRISAILAM DAM NAGARJUNA SAGAR DAM

SRI KANAKADURGAMMA VARADHI

Registered Office: “Ramakrishna Buildings” No. 2 Dr. P.V. Cherian Crescent, Egmore, Chennai- 600008 Tel: +9144-66772600 / 66772667, Fax: 66772620 CIN65991TN1941PLC001128

Cement Marketing Head Quarter: Plot No. 10, Gayatri Hills, MP & MLA’s Colony Road No. 10 C, Jubilee Hills, Hyderabad - 500033 Tel: 040 2325 3503 to 3505, Cell: +91 9866305145 / 9989597775, E-mail: ramakrishna.k@kcp.co.in

34