eNewseltter for the month of October 2016CS Sivadasan A who was the Chairman, ICSI-SIRC in the year...

Members

CS Nagendra D Rao

CS Shastry P S

CS Dhanapal S

CS Ahalada Rao V CS Gopalakrishna Hegde CS Ramasubramaniam C

ChairmanCS Sivakumar P

Vice Chairman

Secretary

TreasurerCS Mohan Kumar A

CS Ganapathi G M

CS Ramakrishna Gupta R

Ex-officio

Co-opted Members

S B Gautam

S Krishnan, I.A.S

SOUTHERN INDIA

REGIONAL COUNCIL

SIRC eNewsletterIssue No: 10

October 2016

From the Chairman 1

Forthcoming Events 3

Articles 5

SIRC Photographs & Activity 17

Chapter's Activity 26

ICSI Publications 56

Opportunities for Members

& Students 59

Announcement for Members 60

Announcement for Students 65

Dear Professional Colleagues,

ICSI-SIRC eNewsletter / October 2016

stThe 41 Southern India Regional Conference of Company Secretaries was successfully organized on 14th

and 15th October 2016 at Ramada Cochin Resorts, Kochi on the theme – CS Rewarding Avenues – Reaping

Benefits: Growing by Leaps and Bounds. Dr. K.N. Raghavan IRS, Commissioner of Customs, Kochi was the

Chief Guest and inaugurated the Regional Conference. Hon'ble Justice Jayasankaran Nambiar A K, High

Court of Kerala was the Chief Guest at the Valedictory Session. Dr.T.M.Thomas Isaac, Minister for

Finance Government of Kerala delivered the Special Address at the Conference. As you are well aware

Dr. T M Thomas Isaac is a member of the GST Council and his presence & speech at the Conference was a

great encouragement to the professionals. The Conference was attended by nearly 400 delegates and

invitees representing the southern part of the country and sister professional institutions. A galaxy of

experts from the Regulatory, Industry, Professionals and Academics addressed at the Conference on

the chosen topics such as Governance – The Invisible Reality, Hidden Treasurers in Companies Act 2013,

Business Analytics – CS Competitive Advantage, CS – As Alternate Dispute Resolutions (ADR)

Professionals, Personality Development /Soft Skills and Mock Session/Moot Court which was chaired by

Shri. K K Balu, former Vice Chairman, Company Law Board.

stThe 41 Regional Conference was organized at kochi after a gap of 22 years. The Conference was

attended by a record number of delegates and also the amount collected through Sponsorships/

Advertisements /Banners/Stalls was very encouraging. The Conference also attracted excellent media

coverage in the local press.

I dedicate this success to all of you who have stood by me and have always been a source of strength and

motivation to organize quality programmes both in terms of content and value. I also place on record my

thanks to all the organizations who have extended their support magnanimously for the conference.

CS Sivadasan A who was the Chairman, ICSI-SIRC in the year 1994, was honoured at the Conference

alongwith CS Nagendra D Rao the Immediate Past Chairman of ICSI-SIRC.

I also take this opportunity to thank the Team SIRC, Team Kochi Chapter led by CS Syam Kumar R,

Officers and Staff of SIRO and Kochi Chapter.

I had the privilege of meeting Shri. Nitin Gadkari. Minister for Road Transport & Highways, Government

of India alongwith CS Kala V, Company Secretary of Cochin Shippyard Ltd.

1

“ I C S I - S I R C H o u s e ” , N o . 9 , W h e a t C r o f t s R o a d , N u n g a m b a k k a m , C h e n n a i - 6 0 0 0 3 4Te l N o . 2 8 2 7 9 8 9 8 ; 2 8 2 6 8 6 8 5 , 2 8 2 2 2 2 1 2 , E m a i l : s i r o @ i c s i . e d u : W e b s i t e : w w w . i c s i . e d u

Yours Sincerely,

CS Sivakumar PChairman, ICSI-SIRC

[email protected]

With regards,

It was a great privilege when CS Sahoo M S, Chairperson, The Insolvency and Bankruptcy Board of

thIndia, New Delhi visited ICSI-SIRC and met select professionald on 25 October 2016. He heard the

views & Suggestions of the Members on the draft rules & regulations pertaining to the Insolvency &

Bankruptcy Code 2016.

The power of belongingness and brotherhood is known to all of us. Many a times we tend to think that

our success as a personal achievement and forget the contribution of the community we belong to – in

our case, as professionals, the community of Company Secretaries. The CS Benevolent Fund is one of

such collective effort towards extending the much needed financial support to the community of

Company Secretaries in times of distress. I appeal to Members who have not joined the Company

Secretaries Benevolent Fund to become its life members and extend the benevolence to your brothers

in times of sorrow. The quantum of financial assistance to the dependents of life members of CSBF is

stincreased form 5 Lakh to 7.5 Lakh w.e.f 1 January 2017 in the unfortunate event of the death of the

life Member.

I humbly request the Members to give their inputs and suggestions towards the activities and program

initiative of the ICSI-SIRC. I look forward to your valuable co-operation and support our future

endeavors.


2

Block your Diary!

for the month of November 2016 (held / to be held)

ICSI-SIRC eNewsletter / October 2016 3

Paid/Free

Date & Timing

Venue/ PCH

Event Speakers

Paid 05.11.2016 ICSI-SIRC House, Chennai

One Day Seminar on Latest Updates in Companies Act & Practical Issues in XBRL

CS Balasubramanian T Practising Company Secretary, Chennai Sowmya Parasuraman Practising Company Secretary, Chennai CS Sucharithra R Practising Company Secretary, Chennai CS Pankaj Mehta Partner, A K Jain & Associates Chennai

Paid 15.11.2016 ICSI-SIRC House, Chennai

Half Day Seminar on All you want to know on Fraud - Provisions, Investigation, Reporting

CS Sathyanarayanan S Advocate Chennai CS Achuthan R Sicagen India Limited Company Secretary & Compliance Officer, Chennai

Free 15.11.2016 4.30– 5.45 EP

ICSI-SIRC House, Chennai

Students Programe for Executive Programme

Ms. R Vishaka

Free 15.11.2016 5.45 – 7.00 FP


Students Program " How to approach & succeed in New syllabus"

CS Srija CS Sowmiya CS Snekha

Paid 25th & 26th, November 2016


Research symposium on

The Companies Act, 2013 – Decoding unsolved

Mysteries and impact of

Amendment Bill 2016

To be announced

My Nostalgia of CS Profession - 8

-CS Subbaraman TP

October 2016

-CS Divesh Goyal


Compounding of Non-Filing of AOC-4/MGT- 7, Branch Auditor, Adjournment of Annual General Meeting & Filling of Unaudited Financial Statement

4

Regulatory Updates during October 2016

- CS Sanka Indrani

- CS Achuthan R

CS Subbaraman TP

Former Secretary, The ICSI

stChartered Secretary. We gave birth to this journal on 31 July 1971, three months after my joining

the infant Institute, along with the formation and constitution of four Regional Councils and a nucleus

HQ library. We originally did not go for this title. When I approached the Registrar of Copyrights

earlier, we suggested a few titles like “The Secretary” “Company Secretary”, and “Corporate

Secretary”. But none of them was available for registration. In that year, with the merger of the

Institute of Corporate Secretaries with the Institute of Chartered Secretaries and Administrators,

London, the London body changed the title of its journal from “Chartered Secretary” to “Professional

Administrator”. Thus we were provided the option of this title and we christened the journal as

“Chartered Secretary”. The journal was published quarterly in the first year. With a stringent

budget and my flair for economy, in retrospect, I have to admit that the first cover of the first issue

was not good, although the contents were.

How its popularity attained. The popularity of the journal could not be created by a magic wand; we

had to prepare ourselves to work hard. Fortunately, I had a good editorial team in Gopalan, J.K.Chawla

and Anand Rao. While editorial assistance was provided by Gopalan and Anand Rao, I introduced

Chawla initially to the concerned officials in Company Affairs, M.R.T.P.Commission, Ministry of Finance,

Customs Revenue etc., and he was also in Rakesh Press for finalisation of the magazine until its posting

every month. Everything was taken step by step, like approaching Government officials for providing

notification immediately on its issue at the earliest, and including other sections most useful to

members. Apart from ensuring regularity of Govt. notifications, CLB and MRTP cases, we arranged

resource persons for providing HC and SC judgements, which could be of interest to our members and

other readers. Until we could get good and eminent writers all over the country for providing articles,

I myself along with AM Chakraborthy, V.Balu and a few other local members having a flair for writing,

provided articles for the journal. All these were challenges in initial stage. Our publishing of most

relevant notifications, e.g. Manufacturing and other Companies Auditors Report, CA firm to disclose

the name of auditor as well, CLB order stating minor is eligible to hold share, Panorama Development

case, etc. were published first in our journal. We got sponsors for prize awards for best articles in

legal, accounts and management disciplines, used sensational cover titles like 'CBI Report inside'

(Confederation of British Industry reports!), 'No More Shahs and no more Jacobs' and 'Turner

Morrison turns the table' (Articles), got relevant advertisements to reduce the cost of journal,

introduced special issues of journal on important subjects, provided previous references and footnotes

in Govt. notifications, and ensured regular supply of papers for printing of journal at economical rates .

.(imported paper supply was rationed at one time). We made the journal monthly from April 1972, and

later changed its size in line with reputed and international magazines. We widened the scope of

articles in line with our professional requirements, with management, finance, accountancy and

taxation topics, in addition to core legal areas. We soon introduced publication of proceedings of

Study Circle meetings, Secretarial Practice Recorder, Prize Quiz, Readers' Views, Book Review,

Students Section and Corporate Miscellany. The annual volume itself was later changed from FY to

Calendar year.

MY NOSTALGIA OF CS PROFESSION–8


Balanced seriousness with diversion. We tried apt cartoons and jokes in lighter vein on current topics

of interest to the profession. Till early seventies, in Industry, Society and even Government, the term

'company secretary' was not popular and generally it was mistaken with private secretaries working in a

company. Lower officials in DCA forwarded us in early seventies a brochure received of an international

conference of secretaries in Manila. In fact it was a conference for private secretaries working in

international companies to improve their talents!! Our first all India conference in 1971 itself was, on

the 'Role and Responsibility of a Company Secretary in Corporate Sector'. In that context, to remove

the confusion, we even published an anecdote quoted by the then President in lighter vein, of a 36-24-26

secretary, as multinational companies generally had a lady secretary for senior executives. We titled

our first seminar in Shimla, as 'Workshop on Restrictive Trade Practices' and a bystander then

innocently asked me as to what we manufacture!! Later during P.R.Roy tenure, he mentioned in lighter vein

of an advertisement of a company requiring for appointment 'one armed company secretary'. The

previous company secretary was not providing clear-cut legal opinion for adherence and was always

stating that on the one hand……. but on the other hand…… We published the anecdote with one armed

chair for the cabin of a company secretary. After trial and error with other cartoonists, with the help

of the then Times of India Secretary P.R.Krishnamoorthy I could persuade the legendary cartoonist

R.K.Laxman to provide a cartoon for our professional journal every month. He generally provided

political cartoons for Times of India. We later requested him to address one of our National

Conventions held in Delhi before I retired.

Ed.Board strengthened. We formalised our Editorial Board inviting eminent persons and experts, like

Justice J. L. Nain (Chairman, MRTP Commission), Rusi S. Gae (formerly Law Secretary), Sharu S.

Rangnekar (Management expert), AM Chakraborthy, V.Balu and Manmohan (last three were IES and ACS

as well). AMC and V. Balu were also later our Director of Research and Publications). A.M.

Chakraborthy, I soon found, was not only proficient and prolific writer on legal and management

discipline, but had very good knowledge in other disciplines like Homeopathy, Astrology, Tantric

traditions, etc. He got the first prize award for his article on “The Joint Sector” from the then Law

Minister H.R.Gokhale and was also a Council member for some time.

Readers' Opinion. Periodically we asked for readers' opinion of our journal, to ensure that every

printed line was useful and relevant to our profession. Some Registrars and field officers used to tell us

that they got Dept. notifications faster from Chartered Secretary than from their HQ. Once when a

member complained that the journal was published only in month end, the President in lighter vein told in

a meeting: what is your problem if April issue covered May notifications as well! On one occasion when I

met a senior partner of CA firm Ferguson in Bombay, he told that Chartered Secretary was more useful

than even their own journal, for their practice. Similarly the then ICWAI doyens N.K.Bose and V.

Kalyanaraman not only appreciated our journal but deputed one of the ICWAI journal staff to consult us

to improve their journal as well. D. Rangaswamy, President of ITAT, was another luminary who constantly

appreciated our journal. We had occasions when people used to identify the Institute as the one which

publishes Chartered Secretary. P.R.Roy, President in 1980-81, eulogised the journal and the editorial

team in President's page, stating that he was gratified that the journal continued to enjoy a high degree

of reputation as an extremely useful periodical by a large number of professional readers extending

beyond those associated as our members and students. He then stated that the Ed.Board members and

editorial staff deserved his hearty congratulations and appreciated the work culture and dedication of

the staff I had. We will talk about other publications and expansion of other activities in the next issue.


CS Divesh GoyalPracticing Company Secretary

Goyal Divesh & Associates

New Delhi

BACKGROUND:

As per Companies Act, 2013 every Company have to file e-form MGT-7 within 60 from the date of

Annual General Meeting 'AGM' and AOC-4 required filing with ROC within 30 from the date of AGM.

Below we will discuss the consequences of non filing or delay in filing of e-form MGT-7 (Annual Return)

and e-form AOC-4 (Filing of Financial statement).

Situation:Many professional have raised question, what are the consequences if Company fail to file such forms

AOC-4/ MGT-7 with in 30 or 60 days from the date of Annual General Meeting.

Whether Company will be liable for penalty or Prosecution for non-filing of AOC-4 & MGT-7 within

30/60 days from the date of Annual General Meeting or Company can file it with late fees.

Let's first discuss the questions:Whether Company will be liable for penalty or Prosecution for non-filing of AOC-4 & MGT-7 within

30/60 days from the date of Annual General Meeting or Company can file it with late fees? Some

people have confusion in such situation that company can file with additional fees or prosecution will

be initiated against the Company:-

Statutory Provisions Contained Under the Act:As per Section 92 Every company shall file with the Registrar a copy of the annual return (MGT-7),

within 60 days from the date on which the annual general meeting is held

As per Section 137 A copy of the financial statements, including consolidated financial statement, if

any, along with all the documents which are required to be or attached to such financial statements

under this Act, duly adopted at the annual general meeting of the company, shall be filed (AOC-4) with

the Registrar within 30 days of the date of annual general meeting

As per Section 403 As we know as per section 403 of Companies Act, 2013: Any document, required to

be submitted, filed, registered or recorded, or any fact or information required or authorized to be

registered under this Act, shall be submitted, filed, registered or recorded within the time specified

in the relevant provision on payment of such fee as may be prescribed:

Provided that any document, fact or information may be submitted, filed, registered or recorded,

after the time specified in relevant provision for such submission, filing, registering or recording,

within a period of two hundred and seventy days from the date by which it should have been

submitted, filed, registered or recorded, as the case may be, on payment of such additional fee as may

be prescribed:

Compounding of Non-Filing of AOC-4/ MGT- 7, Branch Auditor, Adjournment of Annual General Meeting and Filling of UnauditedFinancial Statement


Interpretation Note:

If a Company is not complied with the above provision and has made delay of more than 300 days for

filing of above mentioned forms. In such situation penalty or prosecution of section 92/137 will be levy

on the Company.

Registrar of Companies has power to issue show cause notice to Companies, if Company fails to file the

same within 300 days. By issue of notice to Company ROC can instruct the Company to file the forms and

compound the offence u/s 92 and 137 through section 441 and ask to the Company why action should not

been taken for prosecution under section 92 and 137 for contravention of section 92, and 137 of the Act

respectively.

But there is a situation in which company can save itself from the prosecution u/s 92/137. I.e.

compounding of the offence.

As per the decided case, In P P Varkey V. STO (1999) 114 STC 224 (Bom HC DB), it was held that

once an offence is compounded, penalty or prosecution proceeding cannot be taken for same offence.

As per Section 441(1) Notwithstanding anything contained in the Code of Criminal Procedure, 1973 (2 of

1974), any offence punishable under this Act (whether committed by a company or any officer thereof)

with fine only, may, either before or after the institution of any prosecution, be compounded by the

Tribunal; or where the maximum amount of fine which may be imposed for such offence does not exceed

five lakh rupees, by the Regional Director or any officer authorized by the Central Government

Let's discuss the situation:Many persons have been raising question that, e-form MGT-7 and AOC-4 are in STP (Straight through

process) mode. If Company files it after 300 days MCA system accept the form without any error and

because of STP mode form also get approved. Then whether Company should go for the compounding of

the offence or approval status of the form itself means that no prosecution will be initiated against the

Company.

Interpretation Note:As we discussed the statutory provisions above, if Company fails to file the form within time period

provides under section 92/137 then company have time to file the same with additional fees u/s 403.

But if Company fails to file the same within the additional period provide in 403 then as per section

403(2) be liable for the penalty or punishment provided under this Act for such failure or default i.e.

section 92 and 137.

But Company have an option to save itself from the penalty and punishment by compounding of such

offence. Compounding is essentially a compromise or arrangement between administrator of the

enactment and person committing an offence. Compounding crime consists of receipt of some

consideration (termed as compounding fees) in return for an agreement not to prosecute one who has

committed an offence.


A Company can apply for the compounding of offence only after making of default good. Therefore,

before applying for the compounding Company have to file the both e- forms with ROC with additional

fees as u/s 403. Once company will file the form, it will be compliance of provisions of section 92/137

and default will be stop on that date. Then Company have to go for the compounding of offence start

from the 31/61 days from the date of AGM till date of filing of forms with ROC.

Further, In S Viswanathan V. State of Kerala (1993) 113 STC 182 (Ker HC DB), it was held that once the

matter is compounded, neither department nor assessee can challenge the compounding order.

Department cannot reopen the matter on the reason that actual suppression was much higher.

Hence, considering the provisions of Section 403 and 441 one can opine that for non filing of MGT-7/

AOC-4 within 300 days from the date of Annual General Meeting, Company can go for compounding to

save itself from the future prosecutions and penalties.

Thus, here one can opine that instead of MGT-7/AOC-4 are in STP mode company should go for the

compounding of offence if fails to file such form within period of 300 days.

Any other opinion is also welcome for further clarity of the provision of the Companies Act.

BACKGROUND:Many professionals have been raising question on interpretation/ procedure for appointment of branch

auditor or audit of branch under Companies Act, 2013:-

As per Companies Act, Every company shall prepare and keep at its registered office books of account

and other relevant books and papers and financial statement for every financial year which gives a true

and fair view of the state of the affairs of the company, including that of its branch office or office.

Section 2 (14) “branch office”, in relation to a company, means any establishment

described as such by the company.

As per Section 143(8): Where a company has a branch office, the accounts of that office shall be

audited either by

· The company's auditor; or

· Any other person, qualified to be and appointed as an auditor as per the provisions of the Act to

act as branch auditor under section 139.

where the branch office is situated in a country outside India, the accounts of the branch office shall

be audited either by the company's auditor or by an accountant or by any other person duly qualified to

act as an auditor of the accounts of the branch office in accordance with the laws of that country and

the duties and powers of the company's auditor with reference to the audit of the branch and the

branch auditor, if any, shall be such as may be prescribed.

CONCLUSION:

BRANCH AUDITOR

Situation:

Branch Office:

Statutory Provisions:


Question:

i. If Statutory auditor itself doing audit of the Branch office then Whether there is need pass

resolution separately for his appointment as auditor of Branch?

ii. If statutory auditor is different from the branch auditor then what will be the process of

appointment of branch auditor.

Let's first discuss the questions:If Statutory auditor itself doing audit of the Branch office then Whether there is need pass resolution

separately for his appointment as auditor of Branch? Some people have confusion in such situation for

passing of separate resolution and filing of separate from for appointment of branch auditor.

Statutory Provisions Contained Under the Act:

As per provision of Companies Act, 2013 Section 143(1) every auditor of a company shall have a right of

access at all times to the books of account and vouchers of the company, whether kept at the registered

office of the company or at any other place and shall be entitled to require from the officers of the

company such information and explanation as he may consider necessary for the performance of his

duties as auditor.

As per section 143(3) The auditor's report shall also state—

· whether he has sought and obtained all the information and explanations which to the best of his

knowledge and belief were necessary for the purpose of his audit

· whether, in his opinion, proper books of account as required by law have been kept by the company

so far as appears from his examination of those books and proper returns adequate for the purposes of

his audit have been received from branches

LITERAL RULE OF INTERPRETATION

Before we discuss this issue at length, it may be mentioned in this connection that the first and foremost

principle of interpretation of a statute in every system of interpretation is the literal rule of

interpretation. The other rules of interpretation e.g. the mischief rule, purposive interpretation etc. can

only be resorted to when the plain words of a statute are ambiguous or lead to no intelligible results or if

read literally would nullify the very object of the statute. Where the words of a statute are absolutely

clear and unambiguous, recourse cannot be had to the principles of interpretation other than the literal

rule.

The literal rule of interpretation is not only followed by Judges and lawyers, but it is also followed by the

lay man in his ordinary life. To give an illustration, if a person says "this is a pencil", then he means that it

is a pencil; and it is not that when he says that the object is a pencil, he means that it is a horse, donkey or

an elephant. In other words, the literal rule of interpretation simply means that we mean what we say and

we say what we mean. If we do not follow the literal rule of interpretation, social life will become

impossible, and we will not understand each other. If we say that a certain object is a book, then we mean

it is a book. If we say it is a book, but we mean it is a horse, table or an elephant, then we will not be able to


communicate with each other. Life will become impossible. Hence, the meaning of the literal rule of

interpretation is simply that we mean what we say and we say what we mean.


As per power/duties of auditor u/s 143, It can be interpreted that it is the general duty of the

statutory auditor of the Company to access at all times to the books of account and vouchers of the

company, records of the company whether kept at the registered office of the company or any other

place including branch office. The auditor shall make a report to the members of the company on the

accounts examined by him and on every financial statement. It is duty of the auditor to ensure to the

stake holders that to the best of his information and knowledge, the said accounts, financial

statements give a true and fair view of the state of the company's affairs.

Further he has to check the financial statements prepared by the management and have to prepare its

report on the basis of such financials. Financial statement will definitely include the reporting of all

the offices/ branches of the Company. Auditor have to audit financial statement of the Company and

give his report on the basis of such report.

ConclusionHence, considering the provisions of Section 143 one can opine that it is duty of the statutory auditor

of the Company to do audit of the Branch office of the Company if there is no separate auditor is

appointed by the company for branch office. It is part and parcel of the duty of the statutory auditor

to include all the office of the company for its audit.

Any other opinion is also welcome for further clarity of the provision of the Companies Act. Thus, here can opine that there is no need to pass separate resolution and to file any separate form to

get audit of branch office of the company by the branch auditor.Let's discuss the questions:If statutory auditor is different from the branch auditor then what will be the process of appointment

of branch auditor? Some people have confusion in such situation for appointment of Branch Auditor.


As per provision of Companies Act, 2013 Section 143(8): Where a company has a branch office, the

accounts of that office shall be audited either by

· The company's auditor; or

· Any other person, qualified to be and appointed as an auditor as per the provisions of the Act to

act and appointed as such under section 139.

The duties and powers of the company's auditor with reference to the audit of the branch and the

branch auditor, if any, shall be as contained in sub-sections (1) to (4) of section 143 i.e. right of

access to books of accounts, ensure about the mandatory books of accounts maintained, prepare

auditors' report and state the reasons of qualification in report, if any etc

The provisions of sub-section (12) of section 143 read with rule 12 hereunder regarding reporting of

fraud by the auditor shall also extend to such branch auditor to the extent it relates to the concerned

branch.



If we gone through the provisions mentioned above, It is clearly mentioned that. If company appointed a

separate auditor as branch auditor to audit the branch office of the Company then such appointment will

be as per section 139 (Appointment of Auditor). Provisions of 139 applicable on the statutory auditor are

same applicable on the branch auditor.

Conclusion

Hence, considering the provisions of Section 143(8) one can opine that all the provisions of section 139

relating to appointment of statutory auditor are applicable on Branch Auditor also.

Thus, here can opine that there is no separate process for appointment of branch auditor. Whatever

process we follow for statutory auditor appointment will be applicable on the branch auditor


BACKGROUND:

ADJOURNMENT OF ANNUAL GENERAL MEETING

Many professionals have been raising question on interpretation/ provisions relating to adjourned

meeting:-


thv Whether Adjournment of AGM after the prescribed period (eg. 30 September) is default of

Section 96 of Companies Act, 2013 or not?

Let's first discuss the questions:

Whether holding of adjourned AGM after expiry of period mentioned in section 96 is compliance of

provisions of section 96 or not. Some people holds a view that holding of AGM with in time and then

adjournment of meeting and holding of adjourned meeting after expiry of time as prescribed u/s 96 is

compliance of section 96. One of the arguments put forth by the people supporting the first school of

thought is that section states about holding of AGM within time not about conclusion of AGM within

time.


Provisions of the Companies Act, 2013 to the extent relevant for our discussion, are stated as under

(with necessary comments and modifications, wherever felt necessary).

1. As stated in Section 196(1) Every company other than a One Person Company shall in each year

hold in addition to any other meetings, a general meeting as its annual general meeting and shall specify

the meeting as such in the notices calling it, and not more than fifteen months shall elapse between the

date of one annual general meeting of a company and that of the next.

Provided that in case of the first annual general meeting, it shall be held within a period of nine months

from the date of closing of the first financial year of the company and in any other case, within a period

of six months, from the date of closing of the financial year.

2. As stated in 103(2): If the quorum is not present within half-an-hour from the time appointed for

holding a meeting of the company— (a) the meeting shall stand adjourned to the same day in the next

week at the same time and place, or to such other date and such other time and place as the Board may

determine.

3. As stated in clause 15.6 of Secretarial Standard 2 At an adjourned Meeting, only the unfinished

business of the original Meeting shall be considered.

4. If any default is made in holding a meeting of the company in accordance with section 96 or

section 97 or section 98 or in complying with any directions of the Tribunal, the company and every

officer of the company who is in default shall be punishable with fine which may extend to one lacs

rupees and in the case of a continuing default, with a further fine which may extend to five thousand

rupees for every day during which such default continues.


Therefore, as per the language of section 96 discuss about the time period of holding of AGM. This

section doesn't states about provisions relating to adjournment of AGM.

It is possible for a company to adjourn the annual general meeting in case the accounts are not-ready,

without complying with the requirements of section 137 of the Act. In this connection, it may be stated


that it is mandatory on the part of the Board of Directors of the company to lay the accounts at every

annual general meeting within the statutory. In case the annual general meeting is held in accordance

with the provisions of section 96 of the Act, and the accounts are not placed thereat, the same not being

ready, it is no doubt open to the company concerned to, adjourn the said annual general meeting to a

subsequent date for laying the accounts to comply with the provisions of section 129(2).

In Bejoy Kumar case (supra) referred to in the Circular (Circular No. 4 of 1974, dated February 2, 1974)

the Calcutta High Court did not accept the contention that an annual general meeting could be adjourned

beyond the statutory period limits as laid down in sections 96 and 129 of the Act. As stated in section

137(1) {extract of provision given below} it obligatory for the companies to file with the Registrar annual

accounts within the time-limit prescribed in section 137(1) even if the meeting is adjourned without

adopting the annual accounts.

Extract of Section 137(1)A copy of the financial statements, including consolidated financial statement, if any, along with all the

documents which are required to be or attached to such financial statements under this Act, 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.

where the financial statements under sub-section (1) are not adopted at annual general meeting or

adjourned annual general meeting, such Unadopted financial statements along with the required

documents under sub-section (1) shall be filed with the Registrar within thirty days of the date of annual

general meeting and the Registrar shall take them in his records as provisional till the financial

statements are filed with him after their adoption in the adjourned annual general meeting for that

purpose was amended by the Companies (Amendment) Act, 1988

CONCLUSION:

Hence, considering the provisions of Section 96, 137(1) one can opine that every company must file the

annual accounts with the Registrar within thirty days of the annual general meeting irrespective of

whether the annual general meeting is held or not or whether the annual accounts are adopted or not.

Needless to state, consistent with the view taken by the Calcutta High Court, every annual general

meeting, including its adjournment, if any, must be held within the period limits laid down in section

96(1). One can refer the following below mentioned cases:

Thus, here opine that the adjourned annual general meeting should be held within the maximum time-

limit allowed by this section 96.

The adjourned annual general meeting must be held within the maximum time-limit allowed by this

section. In Mundhra (M.D.) v. Asst. Registrar of Companies, (W.B.), (1990) 50 Com Cases 346 (Cat)(DB);

Bejoy Kumar Karnani v. Asst. Registrar of Companies, (W.B.), (1985) 58 Com Cases 293 (Cal); Subal Dutta

& Sons Pvt. Ltd. v. Asst. Registrar of Companies, W.B., (1986) 59 Com Cases 822 (Cal).



FAQ's:

v Section 96(2) provides that every annual general meeting shall be called for a time during

business hours 9 a.m. and 6 p.m. on any day that is not a National Holiday, and shall be held either at the

registered office of the company or at some other place within the city, town or village in which the

registered office of the company is situate.

Is it necessary that notice of the adjourned general meeting is to be given to the members of a

Company?

As per Section 103(2) If the quorum is not present within half-an-hour from the time appointed for

holding a meeting of the company—

v the meeting shall stand adjourned to the same day in the next week at the same time and place, or

to such other date and such other time and place as the Board may determine; or

v in case of an adjourned meeting or of a change of day, time or place of

v meeting under clause (a), the company shall give not less than three days notice to the members

either individually or by publishing an advertisement in the newspapers (one in English and one in

vernacular language) which is in circulation at the place where the registered office of the

company is situated

v Whether a Company can adjourn meeting by subsequent notice?

In Smith v. Paringa Mines Ltd., (1906) 2 Ch 193, it was held that once a notice of the meeting is given, it

cannot be adjourned by a subsequent notice. The Board of Directors does not have this power. The

proper course will be to hold a meeting and resolve the adjournment of it to any future convenient date.

BACKGROUND:

Many professionals have been raising question on filing of unaudited financial statement with ROC in

case of adjourned meeting or non holding of AGM:-

Situation:

The Companies Act, 2013 mandate on Companies to file duly adopted financial statement with ROC

within 30 days of date of Annual General Meeting (“here after called as AGM”). But in some situation it

is not possible for the Companies to adopt financial statement in AGM. Exp. Financial statements are

not ready on the date of AGM therefore same may be approved at adjourned AGM. Now the question is;

v Whether Companies require to file unaudited financial statement with ROC in case of audited

financial statement are not ready on the date of AGM or not adopted in AGM?

Let's first discuss the questions:

Whether Company required filing unaudited financial statement with the company as provisional

financial statement. Some people hold a view that there is no need to file unaudited/ provisional

financial statement with the Company. One of the arguments put forth by the people supporting the

first school of thought is that if Company is adjourned the AGM due to non adoption of financial

statement such financial statement will be file only after adoption of AGM.

FILLING OF UNAUDITED FINANCIAL STATEMENT



Provisions of the Companies Act, 2013 to the extent relevant for our discussion, are stated as under

(with necessary comments and modifications, wherever felt necessary).

1. As stated in Section 137(1) A copy of the financial statements, including consolidated financial

statement, if any, along with all the documents which are required to be or attached to such financial

statements under this Act, 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 in such manner, with such fees or

additional fees as may be prescribed within the time specified under section 403: [Form AOC-4].

2. Provided that where the financial statements under sub-section (1) are not adopted at annual

general meeting or adjourned annual general meeting, such Unadopted financial statements along with

the required documents under sub-section (1) shall be filed with the Registrar within thirty days of the

date of annual general meeting and the Registrar shall take them in his records as provisional till the

financial statements are filed with him after their adoption in the adjourned annual general meeting for

that purpose:

3. Provided further that financial statements adopted in the adjourned annual general meeting shall

be filed with the Registrar within thirty days of the date of such adjourned annual general meeting with

such fees or such additional fees as may be prescribed within the time specified under section 403:

4. Interpretation Note:Therefore, as per the language of section 137 discuss about the filing of financial statement with ROC. Even section states about filing of unaudited financial statement also.

5. As per first proviso of Section 137(1) if financial statement not adopted in AGM or adjourned AGM

due to any reason. Such Company meanwhile can file the un-audited financial statement as provisional

statement within 30 days of date when AGM required being hold or held. Even as per second proviso

company required to file audited/ adopted financial statement within 30 days, once such financial

statement adopted by the AGM or adjourned AGM. Until Company doesn't file adopted financial

statement company will registrar unaudited financial statement as provisional.

6. As per point 4(b)(i) of e-form AOC-4 Company has to select from the following options:

7. Provisional un-adopted financial statements

8. Adopted financial statements

9. Revised financial statements u/s 130

10. Revised financial statements u/s 131

CONCLUSION:

Hence, considering the provisions of Section 137(1) one can opine that every company must file the annual

accounts with the Registrar within thirty days of the annual general meeting irrespective of whether the

annual general meeting is held or not or whether the annual accounts are adopted or not. U

Thus, here opine that the Company have to file un-audited/provisional financial statement within 30 days of AGM and have to file audited financial statement once such statement is approved by the shareholders in the adjourned AGM.



Company SecretaryCS Sanka IndraniCS Achuthan R

Regulatory Updates during October 2016 From

Ministry of Corporate Affairs, Reserve Bank of India, Securities Exchange Board of India and Ministry of

Labour and Employment

Rules

1. Companies (Incorporation) fourth Amendment Rules, 2016

The Central Government has amended the Companies (Incorporation) Rules, 2014 vide its

notification dated October 1, 2016.

Applicability:

To all companies

Crux of the Rules:

Through these rules the Central Government has made the following amendments to the

Companies (Incorporation) Rules 2014.

a. Replacing/ substituting the following current rules

Sr No Main

Rule

Rule being

replaced/

substituted

Existing Replaced/ substituted with

1 Rule

33 (2)

Proviso of

3 (1)

A copy of order of

the competent

authority approving

the alteration, shall

be filed with the

Registrar inForm No.

INC-27 with fee

together with the

printed copy of the

alteredarticles within

fifteen days of the

receipt of the order

from

the Central

Government

Subject to the provision of

sub-rule (1), for effecting

the conversion of a public

company into aprivate

company, a copy of order of

the Tribunal approving the

alteration, shall be filed with

the Registrar in Form

No.INC-27 with fee

together with the printed

copy of altered articles

within fifteendays from the

date of receipt of the order

from the

Tribunal”

Company Secretary

17ICSI-SIRC eNewsletter / October 2016

a. Insertion of the following rules

2. Rule 38: Simplified Pro-forma for Incorporating Company Electronically

(SPICE)-(WEF 02nd Oct 2016)

(1) The simplified integrated process for incorporation of a company in Form No. INC-

32 alongwith e-Memorandum of Association in Form No. INC-33 and e-Articles of

Association in Form No. INC-34.

(2) The provisions of sub-rule (2) to sub-rule (13)of rule 36 shall apply mutatis

mutandisfor incorporation under this rule.

Provided that for the purposes of references to form numbers INC-29, INC-30 and

INC-31 in rule 36 with Form No.INC-32, Form no.INC-33 and Form No. INC-34 shall

be substituted respectively.

3. Rule 39: Conversion of a company limited by guarantee into a company limited

by shares - (WEF 01st Nov 2016)

(1) A company other than a company registered under section 25 of the Companies

Act, 1956 or section 8 of the Companies Act, 2013 may convert itself into a company

limited by shares.

(2) The company seeking conversion shall have a share capital equivalent to the

guarantee amount.

(3) A special resolution is passed by its members authorising such a conversion

omitting the guarantee clause in its Memorandum of Association and altering the

Articles of Association to provide for the articles as are applicable for a company

limited by shares.

(4) A copy of the special resolution shall be filedwith the Registrar of Companies in

Form no. MGT-14 within thirty days from the date of passing of the same along with

fee as prescribed in the Companies (Registration Offices and Fees) Rules, 2014.

(5) An application in Form No. INC-27 shall be filed with the Registrar of Companies

within thirty days from date of the passing of the special resolution enclosing the

altered Memorandum of Association and altered Articles of Association anda list of

members with the number of shares held aggregating to a minimum paid up capital

which is equivalent to the amount of guarantee hither to provided by its members.

(6) The Registrar of Companies shall take a decision on the application filed under

these rules withinthirty days from the date of receipt of applicationcomplete in all


4. Insertion and Revision of the existing forms:

Insertion and revision of new and existing forms INC 11B, INC 27, INC 32, INC 33,

INC 34,

Source:

http://mca.gov.in/Ministry/pdf/CompaniesIncorporationFourthAmendmentRules_01

102016.pdf

MCA Circular

1. Relaxation of additional fees and extension of last date of filing AOC-

4, AOC-4 (XBRL), AOC 4 (CFS) and MGT 7 e-forms under the Companies Act

2013 – regarding

2. MCA Circular

Circular No. 12/2016 dated October 27, 2016

The ministry has relaxed the additional fees for filing forms AOC 4, AOC

4(XBRL), AOC 4 (CFS) and MGT 7.

Crux of the Circular:

On receiving requests from various stakeholders the ministry has decided to

further extend the last date for filing of financial statements and annual

return without additional fee till November 29, 2016.

Source:

http://mca.gov.in/Ministry/pdf/Generalcircular12_28102016.pdf

MCA Notification

4. National Advisory Committee on Accounting Standards

MCA Notification dated October 3, 2016

The constitution of national advisory committee on accounting standards.


Crux of the Notification

Through this notification the central government constitutes a 13 member

national advisory committee on accounting standards, to advice the central

government on the formulation and laying down of accounting policies and

standards for adoption by companies or class of companies under the said act/

companies act 2013.

Source:

http://mca.gov.in/Ministry/pdf/Notification_03102016.pdf

5. Others MCA information

· Forms MGT-7 and GNL-4 are likely to be revised w.e.f 03rd Nov2016.

· The e-Form INC-29 (Integrated Incorporation Form) has beenwithdrawn. For

the purpose of incorporation the form SPICe (Simplified Proforma for

Incorporating Company electronically), INC-2 (One Person Company), or INC-7

(Incorporation of Company) are to be used respectively.

· The validation tool for filing the AOC 4(XBRL) has been revised

Source:

http://mca.gov.in/MinistryV2/homepage.html

Reserve Bank of India and Foreign Exchange Management Act

Circular

6. External Commercial Borrowings (ECB) by Startups

RBI Circular:

Circular No.: RBI/2016-17/103, A.P. (DIR Series) Circular No. 13 dated October

27, 2016

Applicability:

All category I AD banks and Start Ups


The government through this notification hereby permits the AD Category I

Banks to allow startups to raise ECB under the said framework.


The Salient features of the framework are as follows:

a. Eligibility of the startups to raise ECBs

b. Minimum average maturity period of the ECBs

c. Recognized lender

d. The form of borrowing, the borrowing currency, borrowing limit

e. Conversion of borrowings into equity

f. Issuance of corporate and personal guarantee

g. Hedging

h. Currency conversion rate

Source:

https://rbi.org.in/Scripts/BS_CircularIndexDisplay.aspx?Id=10667

7. Foreign Exchange Management (Manner of receipt and payment)

Regulations, 2016

RBI Circular:

Circular No.: RBI/2016-17/93, A.P. (DIR Series) Circular No. 11 [(1)/14(R)]

dated October 20, 2016

Applicability:

All Category - I Authorised Dealer Banks and all those companies who are in

receipt of / payment in foreign exchange


RBI drawing a reference to its Master Direction on Export of Goods and

Services dated May 26, 2016, Import of Goods and Services dated October 20,

2016 and Foreign Exchange Management Act, 1999, clearly specifies:

- the manner of receipt in foreign exchange by way of remittance or by way of

reimbursement from his branch or correspondent outside India against payment

for exports from India or against any other said payment.


- the manner of payment in foreign exchange by way of remittance or by way of

reimbursement from India or by way of reimbursement to its branch or

correspondent outside India against payment for import into India, or against

any other said payment.

Source:


8. Foreign investment in Other Financial Services

RBI Circular:


20, 2016

Applicability:

All Category - I Authorised Dealer Banks and foreign investors


- RBI drawing an attention to its notification, Foreign Exchange Management

(Transfer or Issue of Security by a Person Resident Outside India) Regulations,

2000 dated October 20, 2016, decides to permit 100% foreign investment

under automatic route in other financial sectors

- And such foreign investment shall be subject to applicable conditionalities,

including minimum capitalization norms, as specified by the concerned

Regulator/ Government Agency.

- Foreign investment in financial services activities which are not regulated or

partly regulated by any financial sector regulator or where there is lack of

clarity regarding regulatory oversight, foreign investment will be allowed up to

100% under the Government approval route.

Source:


9. Investment by a Foreign Venture Capital Investor (FVCI) registered

under SEBI (FVCI) Regulations, 2000

RBI Circular:


20, 2016

Applicability:

All Category - I Authorised Dealer Banks and foreign venture capital investors



- RBI drawing an attention to its notifications and amendments on Foreign

Exchange Management (Transfer or Issue of Security by a Person Resident

Outside India) Regulations, 2000, permits FVCIs which have registered under

SEBI (FVCI) regulation 2000 to invest in equity or equity linked instrument or

debt instrument of:

o certain unlisted companies without obtaining prior RBI approval

o in start up companies

o in Units of a Venture Capital Fund (VCF) or of a Category I Alternative

Investment Fund (Cat-I AIF) (registered under the SEBI (AIF) Regulations,

2012) or units of a Scheme or of a fund set up by a VCF or by a Cat-I AIF.

- Salient features of the revised regulatory framework to be complied by

Venture Capital Fund (VCF) or a Cat-I AIF:

o Opening of a foreign currency account and/or a rupee account with a

designated branch of an Authorised Dealer for the purpose of making

transactions only and exclusively under this Schedule.

o Payment of consideration for all investment by an FVCI shall be paid out of

inward remittance from abroad through normal banking channels or out of

sale / maturity proceeds of or income generated from investment already

made

o There will be no restriction on transfer of any security/instrument held by

the FVCI to any person resident in or outside India.

- Reporting by the entity in receipt of the investment

Source:


1. Review of sectoral caps and simplification of Foreign Direct Investment

(FDI) Policy

RBI Circular:


20, 2016

Applicability:

All Category - I Authorised Dealer Banks and foreign director investors

23



- RBI draws attention to its regulation, Foreign Exchange Management

(Transfer or Issue of Security by a Person Resident outside India)

Regulations, 2000 amended from time to time.

- Some of the salient features of the amendments are as follows:

o Limits /cap in investing in various sectors and industries through automatic

route and approval route.

o Compliances with the sectoral/statutory caps on foreign investment and

attendant conditions

o Permitting an entity that has been engaged in single brand retail trading

operating through brick and mortar stores, to undertake retail trading

through e-commerce.

Source:


Securities Exchange Board of India

11. Freezing of Promoter and Promoter group Demat accounts for Non -

compliance with certain provisions of SEBI (Listing Obligations and

Disclosure Requirements) Regulations, 2015

SEBI Circular:

Circular No: SEBI/HO/CFD/CMD/CIR/P/2016/116 dated October 26, 2016

Applicability:

To all Listed Entities


- SEBI vide its circular no: CIR/ CFD/CMD/12/2015 dated Nov 30, 2015 had

prescribed fine structure with regard to non compliance of certain provisions of

SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 and

Standard Operating Procedure for suspension and revocation of trading of

specified securities.


- However, it has been observed that the noncompliant listed entities had not

paid their fines. Therefore, to ensure effective enforcement it has been

decided to freeze the holdings of their promoters and promoter group

entities.

- The depositories, shall furnish to the exchange upon receipt of request, all

such information pertaining to holdings in the demat accounts of promoter

and promoter group of such listed entities.

- Also, the circular no: CIR/ CFD/CMD/12/2015 dated Nov 30, 2015 shall

continue to be applicable.

Source:

http://www.sebi.gov.in/cms/sebi_data/attachdocs/1477480389564.pdf

1. Disclosures in case of listed insurance companies

SEBI Circular:

Circular: CIR/CFD/DIL/115/2016 dated October 24, 2016

Applicability:



- SEBI issued various circulars on publishing of financial results by listed

companies. SEBI through its circular no: CIR/CFD/FAC/62/2016 dated July

5, 2016, had provided the formats for the listed entities to submit their

unaudited/ audited quarterly financial results with the stock exchanges.

- However, banking companies and insurance companies were permitted to follow

the formats as prescribed under the respective acts / regulations as specified

by their regulations.

- Through this circular currently SEBI in consultation with the IRDAI has

clarified that the listed insurance companies (life and non-life):

o for the quarter ending Sep 30, 2016 and Dec 31, 2016, shall submit the

quarterly financial results, segment wise revenue report, results and capital

employed reports in the specified formats.


o The format for newspaper publishing (standalone/ consolidated), shall be the

same format as specified under the aforesaid circulars issued by SEBI.

Additional disclosures may also be made as prescribed by IRDAI and

o Other requirements specified under the aforesaid circulars shall continue to

apply to insurance companies

Source:


13. Disclosure of financial information in offer document/placement

memorandum for InvITs

SEBI Circular:

Circular: CIR/IMD/DF/114 /2016 dated October 20, 2016

Applicability:


Crux of the Circular

With reference to regulation 15(3) read with schedule III and regulation 15(4)

of SEBI (Infrastructure Investment Trusts) Regulations 2014 the detailed

requirements for disclosure of financial information in offer document/

placement memorandum for InvITs are placed at ‘Annexure –A’ through this

circular.

Source:


1. Facilitating transaction in Mutual Fund schemes through the Stock

Exchange Infrastructure

SEBI Circular:

Circular: SEBI/HO/MRD/DSA/CIR/P/2016/113 dated October 19, 2016

Applicability:




- SEBI earlier vide its circular no CIR/MRD/DSA/32/2013 dated October 4,

2013 had permitted mutual fund distributors to use the infrastructure of

recognized stock exchanges to purchase and redeem mutual fund units

directly from Mutual Fund/ Asset Management Companies.

- Now it has decided to permit SEBI Registered Investment Advisors (RIAs) to

use the infrastructure of the recognized stock exchanges to purchase and

redeem mutual fund units directly from Mutual Fund/ Assets Management

Companies on behalf of their clients, including direct plans.

Source:


15. Bullion as collateral

SEBI Circular:

Circular: SEBI/HO/CDMRD/DRMP/CIR/P/2016/112 October 14, 2016

Applicability:



- SEBI earlier vide its circular no CIR/CDMRD/DRMP/01/2015 dated October 1,

2015 had put in place a comprehensive risk management framework and norms

for acceptance of collaterals by exchanges from their members.

- SEBI through this circular modifies the extent / limit of acceptance of bullion

as collateral as follows:

Earlier Currently

Total commodities collateral

for

any clearing member shall not

exceed 15% of the total liquid

assets of the clearing member

Total commodities collateral for

any clearing member shall not

exceed 30% of the total liquid

assets of the clearing member, out

of which non-bullion collateral shall

not exceed 15% of the total liquid

assets of the clearing member


- Further, the exchanges shall make the necessary arrangements to ensure

timely liquidation of collaterals accepted by them.

- They shall also, stipulate the limits for collateral at member level/across all

members as may be necessary based on their risk perception, capability to

hold and arrangements for timely liquidation.

Source:


16.Exclusively listed companies of De-recognized/Non - operational/exited

Stock Exchanges placed in the Dissemination Board (DB)

SEBI Circular:

Circular: SEBI/HO/MRD/DSA/CIR/P/2016/110 October 10, 2016

Applicability:



- SEBI earlier vide its circular dated May 30, 2013, May 22, 2014 and April 17,

2015 had issued guidelines on:

o De-recognized/ non-operational stock exchanges and exist to the shareholders

of exclusive listed companies (ELCs) on allowing them to list on nationwide stock

exchanges.

o Voluntary delisting

In the event of any failure of the above, they shall be moved to the

dissemination board.

o Period of 18 months to comply with the listing requirements of the nationwide

stock exchanges.

- SEBI on receiving representations on seeking clarifications for raising further

capital and on the process of exit of ELCs has published this circular providing

the following clarifications:


Raising further capital

o ELCs to comply with the provisions of Issue of Capital and Disclosure

Requirements Regulations 2009 while raising capital for meeting the listing

requirements through preferential allotment. In this regard the ICDR and

SEBI (Substantial Acquisition of Shares and Takeovers Regulations) 2011 shall

be applicable to the said extent.

o ELCs that fail to list on the nationwide stock exchanges shall provide exit to

its investors.

Exit to investors

o For the purpose of protecting the interest of the shareholders of ELCs an

exit mechanism is provided and it shall be carried out by the designated stock

exchanges.

- Within 3 months from the date of this circular ELCs to submit an action plan

to the designated stock changes of their intention of complying with listing or

to provide exit. Failing which the designated exchanges shall recommend

action as deemed appropriate.

- Liability / action against the companies that has failed to demonstrate

adequacy of efforts for providing exit to their shareholders in conformity

with the exit mechanism.

Source:


Ministry of Labour and Employment

17. Priority to be given to settlement of death case claim settlements

within 7 days – directions given by PM during Pragati review meeting

held on Oct 26, 2016

Web Circular No. CSD-I/CPGRAMS/Pragati E-Samiksha/2016 dated October

28, 2016


- Through this circular the ministry hereby instructs to ensure that all the death

case claims submitted by spouse/ nominee/ legal heir of EPF member be

invariably settled within a period of 7 days from the date of submission of the

claim form.


- Even in cases where Pension Payment Order (PPO) is to be issued from offices

other than where the account of the deceased member is being maintained

then the maximum period of time that can be taken for settlement of such

claim cannot exceed 7 days.

- The Officers In Charge of both the concerned offices are jointly responsible

for issuing PPO within 7 days.

- They shall be further responsible for scrutinizing the claim form received in

respect of death cases and they shall also guide the claimants for submission

of all the required documents in one attempt only.

- Death case claims must invariably be stamped as “DEATH CASE-TOP

PRIORITY”.

Source:

http://www.epfindia.com/site_docs/PDFs/Circulars/Y2016-2017/CSD1_E-

Samiksha_12866.pdf


ICSI-SIRC eNewsletter

SIRC Activity Report& Photographs

October 2016


Half Day Seminar on “GST: Compliance & Opportunities and Latest updates on Managerial Remuneration” on 01.10.2016 at ICSI-SIRC House, Chennai.

Half Day Seminar on “Business Analytics: A New Opportunity for CS and All you want to know on Insolvency and Bankruptcy Code, 2016” on 22.10.2016 at ICSI-SIRC House, Chennai

CS Sivakumar P, Chairman, ICSI-SIRC with Shri. Nitin Gadkari,Hon’ble Minister, Road Transoport & Highways, Govt. of India


Study Circle Meeting on “Stress Management & Work Life Balance” on 14.10.2016 at ICSI-SIRC House, Chennai.

41st Southern India Regional Conference of Company Secretaries on 14-15, October 2016 at Ramada Cochin Resorts, Kochi


Rashtriya Ekta Diwas (National Unity Day) on 31st October, 2016


HALF DAY SEMINAR ON "GST: COMPLIANCE AND OPPORTUNITIES & LATEST UPDATES

ON MANAGERIAL REMUNERATION”.

The ICSI-SIRC organized Half Day seminar on " GST: Compliance and Opportunities & latest updates

ston Managerial Remuneration”” on Saturday, the 01 October 2016 at ICSI-SIRC House, Chennai.

TECHNICAL SESSION -I- GST: Compliance and Opportunities

CS Mohan Kumar A, Treasurer, ICSI-SIRC introduced the speaker of the session and CS Vijaya

Raghavan, presented the memento to the speaker.

The first technical session was taken by CS Chiranjeevalu P, Advocate who spoke on GST: Compliance

and Opportunities. CS Vidya Laxmi R, Executive (Academics) ICSI-SIRC proposed vote of thanks.

TECHNICAL SESSION -II- Latest updates on Managerial Remuneration

Mrs. Sarah Arokiaswamy, Joint Secretary, ICSI-SIRO introduced the speaker of the session.

The Second technical session was taken by CS Swetha Subramanian, Partner, Lakshmi Subramanian &

Associates who spoke on the topic Latest Updates on Managerial Remuneration. CS Mahadevan P

proposed vote of thanks.

STUDY CIRCLE MEETING ON STRESS MANAGEMENT & WORK LIFE BALANCE

ICSI-SIRC organized Meeting on “Stress Management & Work Life Balance” on 14.10.2016 at

ICSI-SIRC House, Chennai. Shri T V Sivakumar, Corporate Trainer, Chennai was the speaker.

CS Ananth J, an Associate Member of ICSI welcomed and introduced the speaker. There was an

active participation by the Members present and received lot of tips to manage the stress and for

work life balance.

The meeting concluded with a vote of thanks by CS R.S. Shanmugam, a Senior Member of the

Institute.

5 DAYS SKILL DEVELOPMENT PROGRAMME

nd th thICSI –SIRC organized 2 batch of 5 days Skill Development Program from 24 to 28 October

2016 at ICSI-SIRC House, Chennai.

In the 5 days skill development programme the number of students participated was 45.

The program completion certificates of 5 days Skill development program were distributed to all the

participants.

ProceedingsSIRC


st 41 Southern India Regional Conference of Company Secretaries

stThe ICSI – SIRC organized the 41 Regional Conference of Company Secretaries on 14-15 October,

2016 at Hotel Ramada Cochin Resorts, Kochi.

The Chief Guest was Dr. K N Raghavan IRS, Commissioner of Customs, Kochi, Kerala inaugurated the st41 Regional Conferences of Company Secretaries on the theme “CS-Rewarding Avenues- Reaping

benefits :Growing by Leaps and Bounds”.

CS Sivakumar P, Chairman, ICSI-SIRC while delivering the welcome address highlighted the rewarding

avenues available to the Company secretaries.

CS Ahalada Rao V, Council Member, The ICSI, introduced the theme “CS-Rewarding Avenues- Reaping

benefits: Growing by Leaps and Bounds”.

CS Shyam Kumar R, Chairman, ICSI-Kochi Chapter introduced the dignitaries of the inaugural session.

CS Gopal Krishna Hegde and CS Ramasubramaniam C, Central Council members, The ICSI addressed

the participants at the inaugural session.

CS Nagendra D Rao, Immediate Chairman and also CS Sivadasan A, Past Chiarman, ICSI-SIRC were

felicitated for their contribution to the profession.

stCommemorating the 41 Regional Conference a souvenir was released by the Chief Guest. CS Ganapathi

G M, Vice Chairman, ICSI-SIRC facilitated the release of the souvenir.

CS Ramakrishna Gupta R, Secretary, ICSI-SIRC, proposed vote of thanks.

The inaugural session concluded with the national anthem.

thDay 1- Friday, the 14 October 2016

TECHNICAL SESSION -I-Governance –The Invisible Reality.

CS Jeevan Varghese, Chairman, ICSI, Thiruvanathapuram Chapter introduced the speaker of the

session

shri. Sundharesan J, Practising Company Secretary, J Sundharesan & Associates, Bangalore was the

speaker for the first technical session on Governance –The Invisible Reality.

CS Krishnan N N, Chairman, ICSI Palakkad Chapter proposed vote of thanks.

TECHNICAL SESSION -II-Hidden Treasurers in Companies Act 2013.

CS Sreevidya P M, Treasurer, ICSI Kochi Chapter, introduced the speaker of the session.

The Second technical session was taken by CS Makarand Rale Lele M, Council Member, The ICSI, Pune

on Hidden Treasurers in Companies Act 2013.

CS Ramachandran T M, Past Chairman, ICSI Kochi Chapter, proposed vote of thanks.


TECHNICAL SESSION -III- Business Analytics- CS Competitive Advantage.

CS Arun K K, Vice Chairman, ICSI Kochi Chapter introduced the speaker of the session.

The Third technical session was addressed by CS Ravidran S, Skill Will Solutions P Ltd, Chennai, he spoke

on Business Analytics- CS Competitive Advantage.

CS Mithun B Shenoy, Secretary, ICSI Kochi Chapter proposed vote of thanks.

TECHNICAL SESSION -IV- CS-As Alternate Dispute Resolutions (ADR) Professionals.

CS Anil Kumar G, Co-opted Member, ICSI Kochi Chapter introduced the speaker of the session.

The fourth technical session was taken by Shri Anant Merathia, Advocate, Chennai who spoke on CS-As

Alternate Dispute Resolutions (ADR) Professionals.

CS Jayan K, Member, ICSI Kochi Chapter proposed vote of thanks.

thDay 2- Saturday, the 15 October 2016

TECHNICAL SESSION –V-“MOCK NCLT SESSION”

Shri K.K. Balu (Former Vice Chairman), Company Law Board, Chennai was the judge for the Mock

NCLT session.

CS Dr. K. S. Ravichandran, Managing Partner - KSR & Co., Company Secretaries argued for the petitioner

and Shri Anil D Nair, Advocate, Kochi represented on behalf of the respondents.

TECHNICAL SESSION -VI- Personality Development/Soft Skills

Shri Vidhya Sagar Gurumoorthy Chairman, Hirdayavidya foundation, Calicut, addressed on the topic

Personality Development/Soft Skills during the Sixth technical session.

CS Jinu Mathen Member, ICSI Kochi Chapter proposed vote of thanks.

Valedictory Session

stHon'ble Justice Jayasankaran Nambiar A K was the chief justice for the valedictory Session of the 41

Regional Conference of Company Secretaries.

Dr.T.M Thomas Isaac, Minister of Finance, Government of Kerala delivered the special address at

the Regional Conference of Company Secretaries.CS Ramakrishna Gupta R, Secretary, ICSI-SIRC

proposed the vote of thanks.

HALF DAY SEMINAR ON “BUSINESS ANALYTICS: A NEW OPPORTUNITY FOR CS AND ALL

YOU WANT TO KNOW ON INSOLVENCY & BANKRUPTCY CODE, 2016

The ICSI-SIRC organized Half Day seminar on " Business Analytics: A New Opportunity for CS and All nd

you want to know on Insolvency & Bankruptcy Code, 2016 on Saturday, the 22 October 2016 at ICSI-

SIRC House, Chennai.

CS Mohan Kumar A, Treasurer, ICSI-SIRC welcomed the delegates. CS Ramasubramaniam C, Council

Member, The ICSI, also spoke on the occasion.


CS Pavithra R, Practising company secretary introduced the speaker of the First session.

CS Ravindran S, Director, Skill Will Solutions P Ltd, Chennai spoke on Business Analytics: A New

Opportunity for CS.

CS Shyam Sundar L V, Practising Company Secretary introduced the speaker of the second session.

CS Sathyanarayanan S, Advocate, Chennai addressed the gatherings on All you want to know on

Insolvency & Bankruptcy Code, 2016.

CS Mohan Kumar A, Treasurer, ICSI-SIRC, proposed vote of thanks.

Details of Career Awareness Programmes conducted during October 2016

Name of School/College Resource Person[s] Date No. of Students

DRBCCC Hindu College, Pattabiram, Chennai

Ms. Chitra Anantharaman, DD, ICSI-SIRO

18.10.2016 208

Bharathidasan Govt. College for Women, Muthialpet, Puducherry

Ms. Chitra Anantharaman, DD, ICSI-SIRO

19.10.2016 194

The Hindu Senior Secondary School, Indira Nagar, Chennai

Ms. Chitra Anantharaman, DD, ICSI-SIRO & CS Vasumathy V., PCS, Chennai

20.10.2016 90 Plus Two

Sacred Heart H.S.S., Thevara, Kochi

Mrs.Chitra Anantharaman DD, ICSI-SIRO Mr.Sreekumar, Incharge, ICSI-Kochi Chapter

21.10.2016 630

GMBHSS, Chalakudy,Thrissur GVHSS, Chalakudy GHSS, Maranchery, Chalakudy

Mrs.Chitra Anantharaman DD, ICSI-SIRO Ms.Sowmya, Incharge, ICSI-Thrissur Chapter

22.10.2016 102

Govt. HSS, Nandikkara GHSS, Kodakara CJMHSS,Varantharappilly GHSS, Chembuchira GHSS, Iranikulam St. Francis HSS, Mattom,Thrissur

Mrs.Chitra Anantharaman DD, ICSI-SIRO Ms.Sowmya, Incharge, ICSI-Thrissur Chapter

22.10.2016 96

Al-Azhar Central School Mala, Thrissur

Mrs.Chitra Anantharaman DD,ICSI-SIRO Ms.Sowmya, Incharge, ICSI-Thrissur Chapter

22.10.2016 80

St.Berchmans College Changanassery, Kottayam Dist.

Mrs.Chitra Anantharaman DD, ICSI-SIRO Ms. Geetha N., PCS, Kottayam Ms.Reeba Varghese, PCS, Kottayam

24.10.2016 350

Kristu Jyoti College of Management & Technology Changanassery

Mrs.Chitra Anantharaman DD,ICSI-SIRO Ms.Anna Mathew, PCS, Kottayam

24.10.2016 295

38


S.B. HSS, Changanassery St.Thomas HSS, Vazhappally St. Peters HSS, Kurumpanadam,Changanassery

Mrs.Chitra Anantharaman DD, ICSI-SIRO Ms.Reeba Varghese, PCS, Kottayam Ms.Anna Mathew, PCS, Kottayam

24.10.2016 300

Baselius College, Kottayam

Mrs.Chitra Anantharaman DD,ICSI-SIRO Ms.Reeba Varghese, PCS, Kottayam Ms.Anna Mathew, PCS, Kottayam

25.10.2016 130

SVR NSS College, Vazhoor, Kottayam

Mrs.Chitra Anantharaman DD,ICSI-SIRO Ms.Reeba Varghese, PCS, Kottayam

25.10.2016

204 B.Com I

year

Sree Narayana Arts & Science College, Kumarakom, Idukki Dist.

Mrs.Chitra Anantharaman DD, ICSI-SIRO Ms.Reeba Varghese, PCS, Kottayam

26.10.2016 105

Deva Maha College, Kuruvilangad

Mrs.Chitra Anantharaman DD, ICSI-SIRO Ms.Reeba Varghese, PCS, Kottayam

26.10.2016 90

Newman College, Thodupuzha

Mrs.Chitra Anantharaman DD, ICSI-SIRO CS Joseph C.J., PCS , Kottayam

27.10.2016 55

St.George HSS, Muthalakodam, Thodupuzha


27.10.2016

65- Plus two

students

St.Thomas HSS, Pala, Kottayam Dist.


27.10.2016

130 - Plus two students

Catholicate HSS, Pathanamthitta

Mrs.Chitra Anantharaman DD, ICSI-SIRO Ms. Bibi, ICSI-Counsellor, Pathanamthitta

28.10.2016

60 - Plus two

students

Govt. BHSS, Adoor St.Mary’s GHSS, Adoor NSS HSS, Churakkodi GHSS, Thengamam GHSS, Peringanad GHSS, Thottakkonam NSS HSS, Pandalam


28.10.2016

95 - Plus two

students

KKM Govt. HSS, Elippikulam, Alappuzha Dist.


28.10.2016 100 -

Plus two students

39


ICSI-SIRC eNewsletter 6

SIRC Chapters’ Activity ReportOctober 2016

Bangalore CoimbatoreHyderabadKochiMysoreMangalorePalakkadThiruvananthapuramVisakhapatnam


Bengaluru ChapterStudy Circle Meeting on Recent Significant Changes in FEMA and its Impact on Business

The ICSI-Bengaluru Chapter has organized a Study Circle Meeting on Recent Significant Changes in th

FEMA and its impact on Business on 7 September 2016 at the Chapter Premises.

The Programme was presided by CS Vasanth Kumar, Vice Chairman, The ICSI-Bengaluru Chapter and

Speaker CS Ajay G Prasad, Senior Associate, Kocchar & Co.

CS Vasanth Kumar, Vice Chairman, welcomed the gathering and requested the speaker to take the

session.

The Speaker started his session by explaining the gathering on Indian Economy – FDI inflow, FDI and

the legal framework, Prohibition in certain sectors, sectoral changes, and many other important

aspects before concluding the session

The Session ended with vote of thanks and presentation of memento to the Speaker.

Inauguration and Valedictory of 2 Days Induction Programme, 3 Days E Governance Programme and 5

Days Skill Development Programme

The ICSI-Bengaluru Chapter has organized 2 Days Induction Programme, 3 Days E Governance th th

Programme and 5 Days Skill Development Programme from 20 September – 30 September 2016, at

the Chapter Premises.

The Inauguration of the programme was presided by Chief Guest CS Ashalatha Bhat, Company

Secretary, Senior Consultant, Ernst and Young, LLP, Bengaluru.

The Valedictory of the programme was presided by CS Hari Babu Thota, Chairman, The ICSI Bengaluru

Chapter, who distributed Participation certificates to all the participants.

ndInauguration and Valedictory of 22 Executive Development Programme

thThe ICSI Bengaluru Chapter has organized 8 days Executive Development Programme from 7 thSeptember to 14 September 2016 at the Chapter Premises.

The Inaugural ceremony of the programme was presided by Chief Guest CS Chetan Yogesh, Company

Secretary, Wipro Enterprises Limited, Bengaluru and CS Ashirwad, Company Secretary, Bengaluru.

CS Chetan Yogesh, addressing the gathering shared with the participants his experiences as a student

of the profession and the importance of training in ICSI, CS Ashirwad, Company Secretary, speaking on

the occasion informed that the curriculum of 8 days EDP covers both softskills and subjects which is a

very good combination and can bring best out of the participants.

The programme ended with vote of thanks and presentation of memento to the Chief Guest.


th thInauguration of 28 & 29 Management Skills Orientation Programme (MSOP)

th thThe ICSI Bengaluru Chapter has organized inauguration of 28 and 29 batches of Management Skills nd

orientation Programme on 22 Sept 2016 at the Chapter Premises.

The Programme was presided by Chief Guest CS Anil B Shenoy, CFO & Company Secretary,

Infrastructure Development Corporation (Karnataka) Ltd, Bengaluru.

Ms. Noor Sumayya, AEO, The ICSI, welcomed the gathering and invited the Chief Guest for delivering

his address.

CS Anil B Shenoy, during his address informed the gathering on how a Company Secretary should work in

an organization, right from recording of Minutes to compliances, which was very well appreciated by the

participants. He also shared with the participants the new developments and opportunities for Company

Secretaries in avenues like NCLT, Insolvency and Bankruptcy, Mediation, Real Estate, GST, etc and

informed the participants to be prepared for grabbing the opportunity as tomorrow belongs to the

profession of CS.

The programme ended with vote of thanks and presentation of memento to the speaker.

Students Study Circle Meeting on Start Ups in India – Role of CS

The ICSI-Bengaluru Chapter has organized Students Study Circle Meeting on topic Start Ups in India – thRole of CS on 4 September 2016, at the Chapter Premises.

The Study Circle Meeting was presided by speaker CS Neelam Bhojwani, Company Secretary,

Bengaluru. The Speaker informed the gathering that the Start Up initiative aims at fostering

entrepreneurship and promoting innovation by creating an ecosystem that is conducive for growth of

Start-ups. The objective is that India must become a nation of job creators instead of being a nation of

jobseekers. The Speaker also explained the gathering on Section 61 and the role of CS before

concluding the session.

The Session ended with vote of thanks and presentation of memento to the speaker.

Students Study Circle Meeting on ESOP

thThe ICSI-Bengaluru Chapter has organized Students Study Circle Meeting on topic ESOP on 18

September 2016 at the Chapter Premises.

The Study Circle Meeting was presided by Speaker CS Pooja Kukreja, Company Secretary, Bengaluru.

The Speaker started her session by informing the gathering that ESOP is an option, a right, a choice

given to employees but not an obligation to buy the shares of the Company at a future date at apre-

determined price. The Speaker then informed the routes of ESOP, Grant, vesting, acts and rules

governing ESOP's, Compliances for listed and unlisted companies, FEMA Compliances, taxability, etc

before concluding the session.

The Session ended with vote of thanks and presentation of memento to the speaker.


Career Awareness Programmes – September 2016

The ICSI Bengaluru Chapter has conducted the following Career Awareness Programmes during

the month of September 2016.

Date Description Speaker Number of

Students attended

01.09.2016

Career Awareness

Programme at

SSMRV College

Ms. Noor Sumayya,

AEO, The ICSI-

Bengaluru Chapter 15

19.09.2016

Career Awareness

Programme on

"Career as a CS" at

BVB College, Bidar

CS Prasanna Kumar

Bedi, Counsellor, The

ICSI 250

19.09.2016

Career Awareness

Programme on

"Career as a CS" at

Akkamahadevi

College, Bidar

CS Prasanna Kumar


ICSI 60

20.09.2016

Career Awareness

Programme on

"Career as a CS" at

CB College, Bhalki

CS Prasanna Kumar


ICSI 200

20.09.2016

Career Awareness

Programme on

"Career as a CS" at

Akkamahadevi

college, Bhalki

CS Prasanna Kumar


ICSI 200

21.09.2016 Career Awareness

Programme on

"Career as a CS" at

Karnataka college,

Bidar

CS Prasanna Kumar


ICSI

350


Programme on

"Career as a CS" at

Chanakya College,

Bidar

CS Prasanna Kumar


ICSI

55



Programme on

"Career as a CS" at

KLE Society's

Degree College for

all 3 years B.Com

Students

Mr. VLNR Maitreya

Juluri, Assistant

Director & Ms. Noor

Sumayya, Executive

(Academics), The ICSI

- Bengaluru Chapter

200


Programme on

"Career as a CS" at

Acharya Institute of

Graduates Studies

CS Hari Babu Thota,

Chairman, Mr. JVLNR

Maitreya, Assistant

Director and Ms. Noor

Sumayya, Executive

(Academics), The ICSI

– Bengaluru Chapter

60

Coimabatore ChapterCoimbatore Chapter

Ayuda Pooja Celebration

Coimbatore Chapter of SIRC of ICSI celebrated Ayuda Pooja at 9.00 am on 10.10.2016 at chapter

premises. Students, Members, MC members, chapter officials were presented during the Pooja

ceremony.

Professional Development Programme on “Recent update in Companies Act 2013”

Coimbatore Chapter of ICSI organised Professional Development Programme on “Recent update in

Companies Act 2013” on 21.10.2016 at 06.00 P.M at ICSI-Coimbatore Chapter premises. CS

M.R.Thiagarajan, Company Secretary in practice, Coimbatore was the speaker of the programme.

He highlighted the recent changes in Companies Act 2013 and the opportunities therein and the recent

update in Companies Act on the areas Deposits, Incorporation Amendments, E-Forms, Consolidation of

Financial Accounts etc. He briefed the important points from the notifications made since January

2016 and ease of filing forms for incorporation of Companies. He also explained how to go through the

Sections, Rules and Notifications of the Companies Act.

The programme was very interactive and the queries raised by the participants were duly addressed by

the speaker and the programme was actively attended by 51 participants included 16 CS Students & 35

CS members.

Series of Guidance Programme for CS students commenced

Coimbatore Chapter has scheduled around 10 Guidance Programme and around 120 oral coaching

Executive Programme students (weekend and regular) would be the beneficiaries from this

programme


Chapter had also scheduled series of Guidance programme on each subject based on the

observations of examiners on the Question Papers of June 2016 CS Examination sessions issued

from ICSI- Head Quarters' and the first programme was conducted for Executive Programme

students on 24.10.2016 at 06.00 P.M. Senior and expert faculties from Coimbatore handled the

special programme.

Speakers explained the report on observation of Examiners in detail and guided the students about

how to answer each questions in a better way with the support of power point presentation. Further,

speakers elaborated the tips for necessary preparation of CS Examinations. The speakers

highlighted the various changes in the new study materials according to the Companies Act 2013

including the new amendments, notifications etc. The programme was very useful for the students

and around 120 Executive Programme weekend and regular batches had attended the programme

and got benefitted.

Students were very much impressed on this programme and thanked the speakers & institute for

providing them an opportunity to clarify their doubts which eventually help them in their studies and

preparation for the forthcoming examination.

Model Examination from 25.10.2016 onwards for the Oral Coaching Students

Coimbatore Chapter of SIRC of ICSI had scheduled its Model Examination and its first examination

was conducted on 25.10.2016 at chapter premises for Foundation programme oral coaching students.

The model examination was very useful for the students for better preparation for the forthcoming

December CS examination and around 218 nos. of Foundation and Executive programme oral

coaching students at Coimbatore Chapter would be the beneficiaries from this model examination.

National Training Program on “Emancipate Women Prodigy to Rule the Roost”

The Institute of Company Secretaries of India has organised “Emancipate Women Prodigy to Rule

the Roost” hosted by the Hyderabad Chapter from 7-8 October 2016 at Ramoji Film City.

CS Mahdev Tirunagari, Chairman of the Chapter welcomed the gathering. He emphasized the

Intellect role of female in the development of corporate sector and he further mentioned that

the program designed was not to show the diversity between women & men but to impart training

to the women to meet current day challenges in the corporate world.

CS Ahalada Rao V, Council Member ICSI spoke on Policy making by women, Entrepreneurial roles

played by women, and also he emphasized on Importance of “Sakthi” and role of women in each

and every facet.

Hyderabad Chapter


CS R. Ramakrishna Gupta, Secretary of SIRC addressed the gathering and introduced the President,

The ICSI

CS Mamta Binani, President, ICSI spoke on Simplicity, and growth by quoting few role models, and

referred few inspirational aspects of few women leaders and mentioned the Importance of Auto

biography, to understand the growth of an individual.

She further emphasized that women can have their career growth if they do not break confidence of

the family, and they should show willingness to grab the opportunities. She also mentioned not to break

Commitment, Confidence & Truthfulness (CCT) to develop career, The Initial year's struggle is the

strength of the Individual.

Mr. Vishal Kedia, Founder & Director, Complykaro spoke on authentic compliance Law & survey

regarding sexual harassment. He gave following statistical information to the gathering.

Ø 12 1/2% women are preceding officer(not there)

Ø 36% No external committee

Ø 33% Single committee

Ø 1.62% of the companies have complied with the law.

He requested the Dignitaries to release the Book on “Implementation of Prevention of Sexual

Harassment at Workplace”. Chief Guest Ms. Daggubati. Purandeswari released the book along with Ms.

Sailaja Kiran, Managing Director, Margadarshi Chit Funds Pvt Ltd, CS Mamta Binani, President, ICSI

and other dignitaries.

Key-Note speaker Ms. Sailaja Kiran, Managing Director, Margadarshi Chit Funds Pvt Ltd. She spoke on

Acknowledgement of Company secretaries in making the life easier, Responsibilities of company

secretaries, Disclosure requirement, Effective board process, Advices of company secretaries, Acting

in best interests of the company, Investors & queries, Increase transparency, Drafting annual report,

Legal advises . She also dealt elaborately on Entrepreneurial growth in corporate consolidation, Decision

making skills, Problem solving skills and Holistic approach towards current development etc.

Ms. Daggubati. Purandeswari, Former Minister of State Human Resources Development Govt. of India

and Chief Guest Lighten the lamp along with other dignitaries. She dealt with the Shortage of company

secretaries, she further said that “Women should be given responsible position in the board room for

the development of Nation”. This will improveassured Transparency, Economic growth of the country

completely, and also depends on the proper direction of company. by which India will become best place

for the investments (FDI),

The Frist Technical session on 7 October 2016 was addressed by Ms. Meenakshi Datta Ghosh, Retired

IAS officer and former secretary govt. of India. In her address she focused on lack of leadership skills

because of family background, social pressure, customs, partiality which led to lack of women

empowerment in the nation.

32ICSI-SIRC eNewsletter / October 2016 46

In the second technical session on 7 October 2016 was addressed by Ms. Vanitha Datla, Managing

Director, Elico Healthcare Services Limited emphasized on strengths of women which is being reflected

in the economic sphere thereby increasing female force in the overall development. She also explained

group management capability, group financial management capability, community and social action, future

plans and visions with the capabilities of women through family, higher education and self interest,

Income generation activities to be focused by women etc.

In the third technical session on 7 October 2016 which was addressed by Ms. Harini Balaji, General

Manager, SEBI Mumbai. She spoke on Institutional and other investor protection perspectives in listing

regulation on Directors. She also spoke on SEBI disclosure requirement regulations 2015 with two fold

objectives on clauses of listing agreement and consolidation of conditions, Governance requirement to

board of directors by material disclosures, Further she deliberated on various regulations and principles

to have collective compliance for entire board and Related party transactions, along with obligations of

listed entity for investor protection.

Fourth technical session on 8 October 2016 was addressed by CS. Dipti Mehta, Company Secretary. She

dealt with Provisions relating to employee stock option scheme, employee stock purchase scheme. She

explained about schemes and applicability process through administration of specific schemes, Power of

relaxation in contra to strict enforcement of regulations through various directions by the board and

action in case of default,

Fifth technical session on 8 October 2016 was addressed by Ms. Divya poojari & Ms. Khyati Vidwans,

Manager NSE Mumbai & Deputy Manager NSE, Mumbai. They explained the regulations as per the

amended regulations 2016, Focused on schedule IV part A clause B regarding expressed and modified

opinions in respect of audited financial statements. They provided a glance on sub regulations and

explained the provisions and various forms which are necessarily submitted to stock exchanges and also

spoke on SEBI (listing obligations and disclosure requirements) regulations 2015 along with various

schedule and sub regulations.

In the special session on 8 October 2016 which was addressed by DR. V. Narasimhan, Chief Regulatory

Officer, NSE Mumbai. explained about NSE initiatives in developing the securities lending and borrowing

market in India. He touched upon Glance on various regulatory aspects, market participants, and current

market structure. He also Emphasized on link between cash and derivatives and NIFTY future premiums

through comparative analysis of securities lending and borrowing market, Overview on the point of

product side modifications through eligible securities like bonds, ETF's which help securities lending and

borrowing market. He explained various countries development through exchange facility and automatic

borrowing facility by central counter party, market volume and yields.

CS. Dinesh Chandra Arora, Secretary ICSI spoke on Interface of men in women empowerment and

humanity perspective. He has emphasized on gender equality and development, Male gender expectations

to realize the importance of involving men in initiatives for gender equality. He mentioned about the

opportunities for women and various steps taken by men to enhance the scope of women in present day life,


He focused on various actions to be avoided and constructive response for the actions to build gender

equality. He handled interactive session from audience to explain about participatory role of women in

corporate, cultural, community development and also presented Videos to explain the role and success of

women in present day life.

In the valedictory session DR. V. Narasimhan, Chief Regulatory Officer, NSE Mumbai, CS. Dinesh

Chandra Arora, Secretary ICSI, CS Ahalada Rao V, Council Member, The ICSI, CS Mahadev Tirunagari,

Chairman of the Hyderabad Chapter, CS R. Ramakrishna Gupta, Secretary, SIRC and other dignitaries

distributed the two day Training completion certificates to the participants.

CS S. Kavitha Rani, Secretary of the Chapter proposed a vote of thanks.

Study Circle Meeting on Insolvency and Bankruptcy Code 2016 & draft financial resolution and

deposit insurance Bill 2016.

On 21 October 2016 Chapter has organised Study Circle Meeting on Insolvency and Bankruptcy Code

2016 & draft financial resolution and deposit insurance Bill 2016 at Chapter Premises. CS Mahadev

Tirunagari, Chairman of the Chapter welcomed the gathering and spoke on Convergence of various Laws

emerging to make our lives easy.

Dr. Rajkumar S. Adukia, Chartered Accountant was the speaker. He spoke on Government Committees

on Bankruptcy, Evolution of insolvency & bankrutcy regime in india, Birth of The Insolvency and

Bankruptcy Code, Preamble of The Code, Insolvency Vs. Bankruptcy, Why Insolvency Code?, UNCITRAL

Legislative Guide on Insolvency: Ideal Code, Principles underlying the Code, Structure of the Code, Key

Highlights of Code, Institutional Structure under New Code, Insolvency and Bankruptcy Board of India,

Insolvency and Bankruptcy Board of India and also dealt with Time limits, Fast Track Corporate

Insolvency, Liquidation Scenario, Powers and duties of liquidator, Insolvency of individuals and firms,

Draft Financial Resolution and Deposit Insurance Bill 2016, Emerging Professional Opportunities,

Recent Evolving Opportunities.

Study Circle Meeting on New IEPF RULES

The ICSI Kochi Chapter organised a Study Circle Meeting on the topic “New IEPF Rules” on Saturday,

October 22, 2016 at Chapter premises at 5:00 P.M. CS. Jayan K, Managing Committee Member of the

ICSI Kochi Chapter delivered the welcome address. The Study Circle discussion was moderated by CS.

Nikhil George Pinto, Practising Company Secretary, Kochi. He compared the IEPF provisions as per 1956

Act and 2013 Act. He discussed on the various pros and cons of the New IEPF Rules. The session also

further discussed about the procedural requirements which is to be initiated by the Companies

immediately. The discussion was well attended by various CS members and students. The Study circle

discussion was concluded at 6.45 P.M. with the vote of thanks by CS. Rajesh Warrier.

Kochi Chapter


Mangalore Chapter

Mysore Chapter

3 Days eGovernance Programme

As part of the new training structure of the institute, ICSI Kochi chapter organized 3 days

eGovernance Programme at Kochi from 26.10.16 to 28.10.16. The training programme was strictly

followed by the guidelines of the institute. Experts from various subjects were invited for the sessions

and 18 students participated.

STUDY CIRCLE MEETING ON COMPANIES ACT 2013

On 15.10.2016, Mysore Chapter arranged Study Circle meetings on Companies Act 2013 in Chapter

Premises. The discussion was moderated by CS Sabareeshan C K, Past Chairman, Mysore Chapter. The

session was well attended by Members & Students of Mysore Chapter.

Career Awareness Programmes

ICSI Mangalore Chapter of SIRC Conducted a Career Awareness Programme on Month of October –

2016 in varies Colleges. The Mangalore Chapter office In Charge to Arrange the all the CAP

Programmes, The CAP Programmes Conducted by With support of Counllors and Members of the

Mangalore Chapter. In Charge Shankar B Also attended the programmes and monitoring the all the

Consullors programmes. The speakers are explained in Details of CS Foundation program, CS Executive

Programme and CS Professional Programme, syllabus Structure of the course, online registrations and

the job opportunity after completed the CS Course both the employment and practice. And explain for

the foundation & Executive course examination patron of on line/OMR and so on, after explanation,

Chapter office in Charge Mr. Shankar B explained the how to Registration for online mode and how to

making the payment of Registration fee for foundation and Executive and Professional,he has to

explain to the Oral Coaching Class Conducted to the ICSI Chapter office at Mangalore for the June

and December Examination, and also he had distributed the CS Course broachers for all the Students

how are Attuned the Career Awareness Programm, after the Students Rise the queries, Explained

the Each query to successfully.

Details of CAREER AWARENESS PROGRAMME

Name of

College/Institute

Resource Persons Date No. of

Students

Government 1st

Grade College,

Napoklu – 571214,

Kodagu District.

CS Ajay Madaiah

Counsellor of coorg

district

1st Oct 70

MES College ,

Murnad, Kodagu

District

CS Ajay Madaiah

Counsellor of coorg

district

07th

Oct

60


Thiruvananthapuram Chapter

Govt first Grade

college, Kurnad,

Bantwal TQ

Chandrelekha

Counsellor of

Dhakshina Kannada DT

06-

Oct

115

Govt First Grade

College, Mense

Nagesh shenoy P

Counsellor of

Chikmagulur Dist

25th

Oct

160

Govt PU College,

Balehonnur

Nagesh shenoy P

Counsellor of

Chikmagulur Dist

25th

Oct

150

BGS PU College,

Balehonnur

Nagesh shenoy P

Counsellor of

Chikmagulur Dist

25th

Oct

100

Onam Celebration

Onam Celebration was conducted at Chapter premises. Athapookkalam competition, onasadhya, onam

games. tug of war was conducted under the auspicies of Chapter chairman and committee members on

September 10, 2016. Secretary Rakesh rajan/ CS Jayashree C.O/ CS AnilKumar lead the team building

exercise and created bonding and enthusiasm of the festival in students.

Seminar on”National Company law Tridunal”

Seminar on”National Company law Tridunal” was conducted at Hotel Hilton garden Inn as a Half day

Seminar. Adv.Sundaram .FCS (Senior Company Secretary & Advocate Delhi High Court) enlightened

the crowd. Chapter Chairman CS Jeevan varghese welcomed the gathering and Secretray CS rakesh

Rajan proposed vote of thanks.

Seminar on “Income Declaration Scheme”

Seminar on “Income Declaration Scheme was conducted at Hotel Hycinth. Ms.Aswathy V IRS (Asst

Commissioner-Income Tax Department-TVM) updated the stakeholders about the scheme and

Adv.Anil Kumar B(AKB Associates,Bangalore) detailed th eprovision sof Goods and Service

Tax.Chapter Chairman CS Jeevan varghese welcomed the gathering and Secretray CS rakesh Rajan

proposed vote of thanks.

Workshop on Companies Act- Just for Students

Workshop on Companies Act- Just for Students (Full Day programme) was a new initiative by the

Chapter exclusivle for students to hear from outstation faculty Shri.CS AnshulJain (Mehta & Mehta-

Mumbai).


Date Topic/Details of the Programme Speaker[s] No. of

persons

attended

05.10.16 NSS College for

Womens,Kaimanam,TVM

Bibi Anohar

(Counselor)

57

07.10.16 Kendriya Vidyalaya,pattom,TVM Bibi Anohar

(Counselor)

67

01.09.16 Career Awareness Programme

(St Gregorios College,

Kottarakkara )

Er. Yohan. T. K

(counselor)

82


(College of Arts)

Bibi Anohar

(Counselor)

55


(Govt.College for Women,TVM)

Bibi Anohar

(Counselor)

55


(Bishop Abraham memorial

College,Pathanamthitta)

Bibi Anohar

(Counselor)

88


(Mar Ivanios College, TVM)

Bibi Anohar

(Counselor)

50


(M.G .College, TVM)

Bibi Anohar

(Counselor)

50


Programme(Govt. College,

Attingal)

Er. Yohan. T. K

(counselor)

63


Programme(Fatima Mata National

College, Kollam)

Er. Yohan. T. K

(counselor

64


(Milad. E. Sherief Memorial

College, Kayamkkulam)

Er. Yohan. T. K

(counselor)

Batch 1-64

Nos, Batch

2-83 Nos.

Total: 147

Nos


( Co-Operative Arts & Science

college, TVM)

Ms.Chitra Anantharaman

(Deputy Director, SIRC).

Jayashree C O(MC

Member,TVM, Chapter).

SVVinod Kumar(Office

in-Charge,Tvm chapter)

75


( Arya Central School,Pattom

TVM)

Ms.Chitra

Anantharaman(Deputy

Director,SIRC).

CS Jayashree C O(MC

Member,TVM chapter).

SVVinod Kumar(Office

in-Charge,Tvm chapter)

100


Palakkad Chapter

STUDY CIRCLE MEETING ON INVESTOR EDUCATION & PROTECTION FUND RULES

On 16th October 2016 ICSI Palakkad Chapter organized Study Circle Meeting on Investor Education &

Protection Fund Rules at Chapter premises. The session was handled by CS Nikhil George Pinto,

Practicing Company Secretary from Kochi. The speaker appraised the participants about the recent

amendments in. Investor Education and Protection Fund Authority (Appointment of Chairperson and

Members, holding of meetings and provision for offices and officers) Rules, 2016. The session was well

attended by 25 participants.

CAREER AWARENESS PROGRAMMES

Palakkad Chapter of SIRC of the ICSI conducted 3 Career Awareness Programmes during the month of

August the details of the same is summarised as below.

Course leaflets were distributed amongst the students and faculties and they were appraised about the

course, opportunities available after completion of the Company Secretaryship Course, mode of

registration, syllabus, course contents, fee structure, placement services etc. The various support

given by the Institute for pursuing CS course by way of Scholarships, ICSI Education Fund Trust etc.

was also explained to the participants.

Date Name of School/College

Speaker No of students

25.10.2016 Govt Moyans

Model HSS

Palakkad

CS Vineeth Chandran, CS

Lakshmi Pradeep &

Ms. Roby Joseph Office in

Charge

120

26.08.2016 Govt HSS,Big

Bazaar

Palakkad

Adv Remya Nair &

Ms. Roby Joseph Office

in Charge

90

27.08.2016 Nehru Law

Academy,

Palakkad

Ms. Roby Joseph Office

in Charge & Adv Remya

Nair

40


Visakhapatnam Chapter

Members Programmes

ICSI Visakhapatnam Chapter organized Half Day seminar on Recent Changes on Companies Act 2013

and Interaction Session with ROC Hyderabad on 15.10.2016 at Chapter Premises

The ICSI Visakhapatnam Chapter Organized Half Day Seminar on 15.10.2016 at Chapter Premises. CS

Subbarao DV Chairman welcomed to all the participants. CS SV Rao introduced Chief Guest Shri N.

Krishnamoorthy Registrar of Companies, Hyderabad.

Shri. N. Krishnamoorthy started the seminar by explaining the dynamic nature of the society's

requirement thereby leading to changes and amendments in the acts, laws and legislations. He

mentioned that one such dynamic change is the recent advent of Companies Act, 2013

Further, he explained the predominant feature of the new Companies Act, 2013 i.e subordinate

legislation\delegation of legislation which means that whenever there is a change or modification to be

brought into force, we need not wait till it is completely amended by the Central Govt rather it can be

done by the regular notifications, circulars, rules which are being circulated from time to time

depending upon the changes and requirements of the stakeholders.

He also mentioned how globalization is in its peak stages and everything is being globalised thereby

leading to the requirement of Uniformity of law. Companies act 2013 is a public international law and

therefore it needs to be in line with the provisions of the other nations laws also. hence the Singapore,

Australian and London corporate laws have been referred while formulating the provisions of

Companies Act, 2013.

Thereafter, he explained about the role of NCLT which is majorly formulated for easy and speedy

disposal of Liquidation cases. the roles of CLB, SICA, BIFR, etc, have been consolidated and brought

under a single platform that is the NCLT which would be regulated by private liquidators and members

comprising of professional groups of CA, CS or any person having relevant experience and knowledge. he

also mentioned that mediation and conciliation is the best way to resolve issues.

Thereafter, he emphasized on the Governance aspect to be maintained by not only the corporate but

also every individual. he also mentioned about each individuals responsibility towards the society and

thereby explained the importance of the provision of Corporate Social Responsibility.

He mentioned how professional ethics, integrity and accountability are the utmost important aspects

of every professional's conduct as it will lead every individual and in turn every company in which he is

dealing to be transparent and a good governance company.


To conclude the session he mentioned about few proposals that were being made by the Central

Government like:

All forms to be STP Forms

Incorporations and Registrations\ name availability, etc to be taken care by central govt only and not

the ROC of each state.

a Business Enterprise or say a single unit having various CEOs and ROCs is formed for the purpose of

Registration of Companies.

ROCs are expected to become complete Regulators in the near future.

Penalty and adjudication of penalty sections to be notified very soon.

Finally, he wished all the success to all the members present in the seminar and concluded his session

CS SV Rao, Member of ICSI Visakhapatnam proposed vote of Thanks.

Student Programmes:

· Third Batch of 2 Days Induction Programme organized from 17.10.2016 to 18.10.2016.

· Second Batch of 3 Days e-Governance Programme organized from 19.10.2016 to

21.10.2016.

Special Programme:

A Seminar organized at Gurajada Educational Society, Gayatri Colleges for PG Course Srikakulam along

with ICSI Srikakulam Study Centre on Companies Act 2013 and its importance for all PG faculties and PG

Students on 22.10.2016.

Director Capt V. Mahesh introduced key speaker of the seminar CS B. Bhargava, Borra Bhargava &

Associates, Srikakulam. The Speaker started with what is Company and difference between to Company

and firms, partnerships. What is ACT? What are companies Act? about Companies Act 1956 and

difference between Companies Act 1956 & 2013. What is the role and responsibilities in Companies as a

Company Secretary? And also explained one person company, KMP, Transparency of financial documents,

Related party Transactions, Board Reports, Director Reports and ended with penalties. Mr. PRV

Sivaramakrishna Chapter Incharge explained about the Course Structure and how to register online and

exemptions, examinations, fees, student aid fund, prize awards and Long term internship. Shri PVR

Patnaik explained the timings of ICSI Srikakulam Study Centre and services to students and also

explained Class Room Teaching.

Director Capt V Mahesh proposed Vote of Thanks.


Career Awareness Programmes

The principal

RSRK ranga rao college

Bobbilli,vizianagaram(d)

85 Mr. PRV

Sivaramakrishna

Chapter In Charge

30TH SEP

2016

The principal

Gayatri degree college

Bobilli,vizianagaram(d)

85 Mr. PRV

Sivaramakrishna

Chapter In Charge

30TH SEP

2016

The principal

Coordinator

Icsi study centre

srikakulam

90 Mr. PRV

Sivaramakrishna

Chapter In Charge

18th oct 2016

The principal

New central school

srikakulam

120 Mr. PRV

Sivaramakrishna

Chapter In Charge

18th oct 2016

The principal

SDA govt degree

college

yalamancheli

75 Mr. PRV

Sivaramakrishna

Chapter In Charge

20th oct 2016

The principal

Sri boddu Krishna

degree

College,vizianagaram

120 Mr. PRV

Sivaramakrishna

Chapter In Charge

21st oct 2016

The Director

Gayatri

Colleges of PG Course,

Srikakulam

350 CS B. Bhargava

Shri PVR Patnaik

Mr. PRV

Sivaramakrishna

Dr N Patnaik

22.10.2016


ICSI Publications 2016


Opportunities for Members & Students

For Members

For Students


Announcement for Members


ICSI-SIRC eNewsletter Announcement for Members

Saathi Haath Badhana

CSBF/7.5/ 2016 14th October, 2016

Three months from now, you'll wish you had started

!

Dear Professional Colleagues

It has taken over three and half decades of consistent hard work, perseverance and dedication of one and

all to reach and see the day now when a Company Secretary is acknowledged by statute as a key

managerial person.

th thWhile the Institute celebrated its 48 Foundation Day on 4 October, 2016, it gives me immense pleasure

while informing your good self that the quantum of financial assistance to the dependent(s) of the life

stmembers of CSBF has been increased from Rs. 5 Lakh to Rs. 7.5 lakh w.e.f. 1 January, 2017 in the

unfortunate event of the death of the life member.

I take this opportunity to thank the Council of the Institute in leading the way forward to extend its helping

hand in making the Fund financially secure through its regular and generous contributions. I wish to thank

all the Regional Councils and Chapters who have contributed in this noble cause and earnestly wish that

CSBF will continue to have their patronage in the future too. I sincerely thank the Managing Committee of

CSBF and the Secretariat for their consistent efforts in this endeavour.

stOn and from 1 January, 2017, the financial assistance to life members of CSBF will be as under:

Subject: Increase from Rs. 5 lakh to Rs. 7.5 lakh – CSBF. Enrol now

Sl. Particulars Existing To No. 1 Financial Assistance to Life Rs. 5 lakh Rs. 7.5 lakh

Members (upto the age of 60 years)

2 Financial assistance to Life Rs.2 lakh Rs. 3 lakh to be given to the Members (above the age of 60 (in deserving cases) dependent spouse of the years) Deceased life member only. (in deserving cases)


I would hence strongly urge you to become a life member of the CSBF by seizing this opportunity by making

a onetime online/offline payment of Rs. 7,500 before the subscription increases to Rs. 10,000 effective from

st1 January, 2017.

By becoming a member of the CSBF, you are not only in a small way securing the future of your own family

but also your extended family, i.e. your professional brethren.

If you are already a life-member of CSBF, you can motivate your other colleagues to become a life member

of CSBF. Needless to say, that the subscription/ contribution to CSBF qualify for the deduction under Section

80G of the Income Tax Act, 1961.

For further information/ clarification, you may please write at email id: [email protected] or contact

on Telephone: 011-45341088.

I keenly look forward to getting your continued support. I am also sharing vide link

https://www.icsi.edu/Docs/Webmodules/CSBF_Brouchure.pdf the detailed brochure on CSBF.

Form 'A' for enrolment as a life member of CSBF at

http://www.icsi.edu/docs/webmodules/member/forms/form-A-CSBF.pdf


1. On confirmation of the payment member can get the Payment Receipt for CAC registration.

The registration is valid for One year from the date of booking. An email and SMS will be sent

to the member on successfully completing the registration process.

2. Registered members can book their time slot depending upon their requirements and also

depending upon the availability of the CAC office for the selected location by clicking on

‘Booking for CAC’ menu item. It will show the status of booking for the already registered

location office(s). The available date can be checked from the check button.

3. Booking Receipt will get generated after the successful booking. Member can take the printout

of the same to show his booking details to location office at the time of entering the premise.

An email and SMS will be send to the Member and as well as the Location Office for the same.

4. Members can cancel their bookings by clicking on the menu item ‘Cancellation of CAC

Booking’. All the valid booking details will appear for cancellation. A confirmation message

will appear before final cancellation. Once a booking is cancelled for selected date, booking

time will again be returned back to the member’s account.

5. The menu item ‘Receipt for CAC booking’ will be used for getting the receipts for the

Payment and as well as the Booking data. Member can generate the receipts and take the

printout of the receipts as and when required.

6. About Page is available for providing the guidelines about how to use the CAC application.

7. After certain time the member will be logged out automatically and redirected to the Login

page of the application.

8. A report facility has also been generated for the admin user of the corresponding office to view

the Booking status.

9. The registration fees and other charges are as follows:

i. Annual Registration charge (for each location): INR 5000/-

ii. Scanning Charges: INR 3.00 per page to be charged on actuals

iii. Photo Copy Charges: INR 1.00 per page to be charged on actuals

I. GUIDELINES TO THE USERS

The permissible use of CAC shall be maximum 06 (six) hours per month per member. The

membership to CAC is non-transferable and only registered member can avail the facilities. If a

member wants to use more than 6 hours in a month, no additional charges need to be collected for

the same. However, the number of extra hours used in that month shall be deducted from the total

hours allotted in a year. Further, if a member does not use 6 hours in that month, it will get lapsed

in that month and any unutilized allocated hours will not be carried forward to the next month.

Booking can be done in advance for maximum of two months from the current date.


I. OBJECTIVES

a. To promote and guide start-ups

b. To promote innovations

c. To help start ups in getting necessary capital to take-off

d. To support and guide business acceleration

II. BENEFIT TO MEMBERS

· Newly inducted members into practice can avail office facilities at a nominal cost on prior

booking/ confirmation basis (in different slots during office hours).

· CS Chamber will provide office facilities to PCS for dealing with their clients.

III. FACILITIES AVAILABLE AT CAC

· The CAC Chambers is well equipped with all state-of-the Art facilities to resemble a corporate

look having WiFi/internet, Telephone, Scanning & Printing, Reception Desk, Reference Library,

and other basic amenities. Cafeteria facility can be provided (on cost basis).

· Additional facility of Web Camera can be arranged on need basis

IV. ONLINE REGISTRATION PROCEDURE

1. An active member of ICSI is eligible for login to the CAC Application through the link

https://www.icsi.in using his/her valid online user credentials.

2. After successful Log In, the Home page of the CAC application will appear.

3. From the Home page, a member can click on ‘Registration for CAC’ for registration. The list of

available office location/s will appear on the screen.

4. Member can select the desired location from the list of office location for the registration. All

available services on this location will appear along with their charges like Registration charge etc.

5. Registration for multiple locations can also be done simultaneously. The total accumulated charges

will appear on the screen.

6. On clicking the ‘Proceed for Payment’ button system will redirect to the Payment Gateway screen.


Announcement for Students


Guidance ProgrammeGuidance Programme of the Examiners' observations and comments on the performance of

students for Executive Programme and Professional Programme in June 2016 session of

thCompany Secretaryship Examination. The programme will be held on Friday, the 25 November,

2016 at “ICSI-SIRC House”, 9, Wheat Crofts Road, Nungambakkam, Chennai-600 034 at 2.30 p.m.

Students interested to participate in the above programme shall confirm their participation through

rdE-mail to [email protected] on or before 23 November, 2016.


Class Room Teaching


Stage Date of Commencement

Fee

Foundation Programme Morning Batch for June 2017 examination

19.12.2016 Rs.5100/-

Foundation Programme Morning Batch for June 2017 examination

19.12.2016 Rs.5100/-

Executive Programme Module-II Morning Batch for June 2017 examination

19.12.2016 Rs.5600/-

Executive Programme Module-I Evening Batch for June 2017 examination

19.12.2016 Rs.6100/-

Commencement of Class Room Teaching

Model Examination for December 2016 Examination

Crash Course

SIRC of the ICSI commenced Class Room Teaching for Executive

Programme Module-I (Morning) and Module-II (Evening) for June

rd2017 examination on 3 October, 2016 at “ICSI-SIRC House”,

Chenna-600034.

The SIRC of the ICSI is organizing model examination for December

2016 examination for Foundation Programme, Executive Programme

th rdand Professional Programme from 26 November, 2016 to 3

December,2016 at “ICSI-SIRC House”, Chennai – 600 034.

The SIRC of the ICSI is conducting Crash Course for Professional

Programme Students for December 2016 examination at “ICSI-SIRC

House”, Chennai – 600 034 as per details are given below:

Day and Dates:

Particulars Fees

Saturday and Sunday, the 26th November, 2016 and 27th November, 2016

Crash Course on Financial, Treasury and Forex Management

Rs.1250

Saturday, the 3rd December, 2016 and Sunday, the 4th December, 2016

Crash Course on Advanced Tax Laws and Practice

Rs.1250

67

STUDENTS

DECEMBER, 2016 SESSION OF EXAMINATIONS

Please note that the online facility for submission of change of Examination Centre /

Combination of Module(s)/ Medium for the students who have enrolled for December, 2016

thSession has been activated effective from 11 October, 2016 and the requests should be

submitted as per the schedule given below :

Stage Last Date for submission of Requests through Online Mode Foundation Programme

th(Computer18 November, 2016 upto 16:00 Hours Based) examination Executive & Professional

t hP r o g r a m m e 6 D e c e m b e r , 2 0 1 6 u p t o 1 6 : 0 0 H o u r s E x a m i n a t i o n

The prescribed fee is Rs.250/- per change and the same may be remitted through

Credit/Debit Cards/ Net Banking / Canara Bank Challan System. It may be noted that for

changing the examination centre to Dubai, apart from the prescribed fee of Rs.250/-, the

surcharge of US$100 (or equivalent amount in Indian Rupees) shall be applicable.

Students remitting fee through Canara Bank Challan System i.e. by way of Cash at the Canara

thBank branches are advised to ensure that the cash is deposited LATEST BY 18 November,

th2016 (for Foundation Programme Students) and 6 December, 2016 (For Executive &

Professional Programme Students). It may be noted that in case the cash is deposited after

the said dates (even if the Challans are generated on a prior date), the requests will be

rejected without further notice.

Students are advised to take note for compliance.


DECEMBER, 2016 SESSION OF EXAMINATIONS

[email protected]

LAST DATE FOR SUBMISSION OF REQUEST FOCANCELLATION OF EXEMPTION

FOR THE STUDENTS WHO HAVE ENROLLED FOR DECEMBER, 2016 SESSION AND THE REQUESTS SHOULD

BE SUBMITTED AT AS PER THE SCHEDULE GIVEN BELOW :

SUBMISSION FOUNDATION ( COMPUTER BASED) EXAMINATION CANCELLATION EXEMPTION REQUESTS

TH TH18 NOVEMBER, 2016 UPTO 16:00 HOURS EXECUTIVE & PROFESSIONAL PROGRAMME EXAMINATION6

DECEMEBR, 2016 UPTO 16:00 HOURS

GUIDELINES FOR CANCELLATION OF PAPER-WISE EXEMPTIONS

[email protected] STAGE LAST DATE FOR

Paper-wise exemption in any paper(s) of the examination, once sought by the candidate and granted by the

Institute remains valid and is printed in his/her Admit Card (Roll No.) and taken on record for computation of

his/her results unless it is cancelled by the student by submitting a formal request to the Institute. Exemption

once cancelled on student's request shall not be revived subsequently under any circumstances. Candidates

fulfilling the eligibility conditions under 60% Marks Criteria have been granted exemption(s) in the respective

papers and such exemption(s) has/have been shown in the Admit Card.

The details of such exemptions are available in the individual accounts of the students at www.icsi.edu under

“Programme Information”. The exemptions so granted will also be shown in the Admit Card to be issued to the

eligible students. Ifany candidate appears in the examination of any exempted paper disregarding the exemption

granted and shown in the Admit Card, the exemption will be cancelled by the Institute without notice and shall

not be revived under any circumstances.

Candidates desirous of cancelling the paper-wise exemptions granted to them are advised to send a formal threquest at E-Mail id Such requests for cancellation should be sent latest by 18 November,

th2016 (Upto 16:00 Hours) by Foundation Programme Students and by 6 December, 2016 (Upto 16:00 Hours) by

Executive and Professional Programme Students.

It may be noted that in some cases, the exemptions granted in accordance with the various provisions contained

under the regulations are inter-related with other exemptions granted and cancellation (or appearance) in any

one of the papers may result in cancellation of exemptions in all the inter-related papers. For example, if a

candidate has been granted paper-wise exemptions in three papers on the basis of scoring 60, 62, 58 & 10 Marks

respectively in the four papers contained under Module-I of Executive Programme in previous session and in case

he/she appears or cancels the exemption in any one out of the three exempted papers, all the three exemptions

shall be cancelled since the exemption criteria in this case is applicable only if all the three papers are taken

together.

Candidates are, therefore, advised to be extremely careful while seeking cancellation or while appearing in the

exempted papers, as the final result will be computed considering the actual marks scored on reappearance and/

or the deemed absence in the papers as the case may be. In other words, candidates appearing in the exempted

papers despite an endorsement to the effect in the Admit Card shall be doing so at their own risk and

responsibility and the Institute may not be held responsible for any eventuality which may arise at a later date.

In case of any doubt regarding the applicability of rules regarding the exemptions, it would be better if the

candidates seek prior clarifications from the Institute by writing at [email protected] before appearing in the

examination of exempted subjects or seeking cancellation of exemptions granted.

STUDENTS


eNewseltter for the month of October 2016CS Sivadasan A who was the Chairman, ICSI-SIRC in the year...

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