Date: 16thJune, 2020

Notice for Annual General Meeting Dear All,

This is to inform you that the Annual General Meeting of Navi Mumbai Chapter of

the ICSI will be held on June 30th 2020, Tuesday from 08:30am to 09:30am

through video conference to discuss following items of agenda.

1. To consider and adopt the Audited Annual Accounts for the year ended 31st

March, 2020 together with the report of the Auditors thereon and report of the

Managing Committee of Navi Mumbai Chapter. The same is available at

https://www.icsi.edu/navimumbai/home/

2. To Appoint/re-appoint Statutory Auditors for the year 2020-21 and fix their

remuneration.

3. To transact such other business as may be brought before the meeting with

thepermission of the Chair.

The VC URL details are mentioned below:-

VC URL: https://bluejeans.com/794574990/8146

Meeting ID: 794 574 990

Participant Pass Code: 8146

You are requested to kindly attend the same.

For and on behalf of Managing Committee of Navi Mumbai Chapter of WIRC of The

Institute of Company Secretaries of India

Thanking You,

Yours Faithfully,

CS Sandeep Parekh CS Ashish Pandey CS Kush Gupta CS Roopa Agrawal

Chairman Vice-Chairman Secretary Treasurer

Navi

Mumbai

Chapter

ANNUAL REPORT OF MANAGING COMMITTEE OF NAVI MUMBAI CHAPTER OF

WESTERN INDIA REGIONAL COUNCIL OF

THE INSTITUTE OF COMPANY SECRETARIES OF INDIA

FOR THE FINANCIAL YEAR 2019-20.

The Managing Committee of Navi Mumbai Chapter of WIRC of ICSI is pleased to present

the Annual Report of Chapter alongwith Audited Accounts for the year ended 31st March

2020.

1. RECONSTITUTION OF MANAGING COMMITTEE AND NOMINATION OF CO-

OPTED MEMBERS FOR THE YEAR 2020.

Subject to all the required approvals during the Managing Committee meetings held

on 15.01.2020 and 25.01.2020, the following co-opted and elected were declared as

Member of the Managing Committee of Navi Mumbai Chapter of ICSI as per the

details shown against their names for the period from 19.01.2020 to 18.01.2021.

(a) CS Sandeep P Parekh (FCS-7118) – Chairman

(b) CS Ashish Pandey (FCS-6078) - Vice Chairman

(c) CS Kush Gupta (ACS-39265) - Secretary

(d) CS Roopa Agrawal (ACS-25656) - Treasurer

(e) CS Santosh Kumar Singh (ACS-15964) – Member

(f) CS Alka Singh (ACS-15936) - Member

(g) CS Priyanka Yadav (ACS-48355) - Member

2. MEETINGS OF MANAGING COMMITTEE:

The managing committee met eight times during the year on 22.05.2019, 23.05.2019,

15.06.2019, 17.08.2019, 05.12.2019, 15.01.2020, 25.01.2020 and 08.03.2020.

3. FINANCE AND ACCOUNTS:

The managing committee is pleased to announce financial performance of the

Chapter as per below:

- The Chapter has achieved net income of Rs. 5,48,412/- in 2019-20 as

compared to Rs. 15,038/- in 2018-19.

Navi

Mumbai

Chapter

- The chapter has received the grants of Rs. 6,34,287/- as compared to previous year

of Rs 1,45,024/-.

- The chapter has organized various professional development programmes, training

orientation programmes during the year for members and students which resulted

in earning of Rs. 11,13,135/- as compared to previous year of Rs. 8,23,282/-

- Cash & Bank Balances available with the chapter as on 31st March 2020 was of

Rs 2,676,354/-

4. INVESTMENT:

During the year under there is no investment.

5. STUDENTS REGISTRATION IN THE YEAR 2019

During the year 2018, the number of students registered as below-

Sr No Programme Offline Online Total

1 Foundation Stage Nil 133 133

2 Executive Stage Nil 177 177

3 Professional Nil 20 20

The total strength of the students as on 31st December 2018 is as below:

6. PROGRAMMES FOR STUDENT:

1 01-July-2019 Van mahotsav Mr.PS Emmanuel

2 4-July-2019 Quiz Contests for Students Mr. PS Emmanuel

3 08 july-2019 Class Room Teaching CS Deepali Bhatia

4 15-July-2019 Parent Teachers Meet CS Priyanka Yadav &

CS Mrudula Marathe.

5 17- July-2019 Faculty Induction Meeting CS Mrudula Marathe

6 14-July-2018 Soft Skills & Communication Development

Ms. Deepali Bhatia

7 19-July-2019 Samadhan Diwas Mr. PS Emmanuel

8 19-July-201 Communication/Soft Skills Development

Program

CS Deepali Bhatia

9 21-July-2018 Student updates on emerging aspects in

corporate laws

Ms. Rajni

10 28-July-2018 Essay writing Competition on the Theme

"Good Governance Practices in Armed Forces"

Ms. Ranjeeta

Sl. No. Stages of programme Number of Student’s

1 Foundation Programme 634

2 Executive Programme 1870

3 Professional Programme 299

Total 2803

7. PROGRAMMES FOR MEMBERS AND STUDENTS:

The following programmes were organized by the chapter for the members/students

during the year 2019-20:

Sr

No

Date Topic Speakers PCH/PDP

Hrs

1 15.06.2019. Half day Seminar on

PCS Day Celebration

Eminent Speaker MS. LATA KHATRI

CS K. VENKATARAMAN

2

2 21.06.2020 Yoga Day Activity

-

3 28.07.2019. Full day Seminar on

FEMA & Corporate

Fraud and

Investigations

Eminent Speaker :

CS Arvind Salvi,

CA Soumit Nikhra,

4/8

4 15.09.2019 Full day Seminar on

The Arbitration and

Conciliation

(Amendment) Act,

2019, Consumer

Protection Act, 2019

and Companies

Amendment Act,

2019

Eminent Speaker CS Kushiram Jadhawani,

CS Surendra Kanstiya, Secretary.

4/8

5 04.10.2019 ICSI Foundation Day

– Fit India Fit ICSI.

Activity

-

6 19.10.2019 Half Day Seminar on

“Intellectual

Property Rights”

Eminent Speaker Adv. Manali Chitnis

2/4

7 16.02.2020 Full Day Seminar on “Analysis of The

Companies

(Amendment) Act,

2019 And Critical

Aspects of FEMA

Eminent Speaker :

CS Gaurav Pingle

CS Arvind Salvi

4/8

8 01.03.2020 Full Day Seminar on “ Critical Analysis of section 185,186 and 188 of The Companies Act,

Eminent Speaker :

CS Anshu Agarwal

CA, CMA Ram Mohan Bhave

4/8

2013 and Valuation and its Scope

9 08.03.2020 International Women’s Day (Half Day)

Eminent Speaker :

CS Divya Momaya

2/4

10 08.03.2020 SCM on “Critical analysis of recent amendments in SEBI (Prohibition of Insider Trading) Regulations, 2015”

Eminent Speaker :

CS Jitendra Prasad, FCS, LL.B

2/4

8. ONE DAY ORIENTATION PROGRAMME FOR STUDENTS:

Navi Mumbai Chapter conducted the following One Day Orientation Program for the

Students of Foundation and Executive Program as per the details mentioned below:-

ODOP:-

SL.NO DATE BATCH NUMBER NO. OF STUDENTS

1. 05.09.2019 01st Batch of 01 Day

Orientation Program –

EP

Students - 21

2. 16.01.2020 02nd Batch of 01 Day

Orientation Program –

EP

Students – 46

3. 22.01.2020 01st Batch of 01 Day

Orientation Program –

FP

Students – 50

4. 25.02.2020 03rd Batch of 01 Day

Orientation Program –

EP

Students – 45

9. CAREER AWARENESS PROGRAMME:

Our Chapter is continuously taking the efforts for the growth of profession and

increases the awareness about the Career as Company Secretary and organized the

following career awareness programmes by Navi Mumbai Chapter:

Sl. No. Date of CAP Name of Counsellor Region Place & Venue of CAP No. of

Participants

1 17 Jan 2019 Ms Lachhmi Bhatt

(Executive Officer) Navi Mumbai SMDL College

Kalamboli

56

2 21 Jan 2019 Ms Lachhmi Bhatt

(Executive Officer) Navi Mumbai Peoples Education

High School, Belapur

130 (Class XI

- Commerce)

3 21 Jan 2019 Ms Lachhmi Bhatt Navi Mumbai Peoples Education 68 (Class XI

(Executive Officer) High School, Belapur

Science)

4 24 Jan 2019 Ms Lachhmi Bhatt

(Executive Officer) Navi Mumbai GNAN College,

Airoli.

96 (FY

B.Com)

5 28 Jan 2019 Ms Lachhmi Bhatt (Executive Officer)

Navi Mumbai Western College of Commerce

270

6 11 Feb 2019 Ms Lachhmi Bhatt

(Executive Officer) Navi Mumbai Sadhu Vaswani

International

School, Sanpada.

180

7 27 Feb 2019 Ms Lachhmi Bhatt

(Executive Officer) Navi Mumbai KMC College 80

8 30.04.2019 Mr. PS Emmanuel

(Office Incharge) Navi Mumbai Western College

Sanpada.

110

FY & SY B.Com

9 30.04.2019 Mr. PS Emmanuel

(Office Incharge) Navi Mumbai Western College

Sanpada.

59

FYB.Com

10 23.07.2019 Mr. PS Emmanuel (Office Incharge)

Navi Mumbai FG Naik College, Koperkhairne

80 (Science Faculty)

11 23.07.2019 Mr. PS Emmanuel

(Office Incharge) Navi Mumbai FG Naik College,

Koperkhairne

120 (Arts

Faculty)

12 30.07.2020 CS Kush Gupta, CS Priyanka Yadav &

CS Mrudula

Navi Mumbai Jnan Vikas Mandal, Airoli

120 B.Com

13 30.07.2019 CS Kush Gupta, CS Priyanka Yadav &

CS Mrudula

Navi Mumbai DAV Public School 80 – XII class

10. STATUTORY AUDITORS

CA Vaibhav Kamble, Proprietor of M/s S.M.V.K. & Co., Chartered Accountants [FRN

– 143491W, M. No. 173811] Navi Mumbai was appointed as the Statutory Auditors of

the Chapter for the year ending on 31.3.2019. There has no adverse remarks,

qualifications or comments made by him as on end of FY 2019-20. CA Vaibhav

Kamble (M. No. 173811) of M/s S M V K & Co., Chartered Accountants [FRN –

143491W] is being eligible to be appointed as Statutory Auditor of the Chapter for the

financial year 2020-21, subject to approval of members in ensuring Annual General

Meeting (AGM).

11. INTERNAL AUDITORS :

CA Vikash Kumar, Proprietor of Agarwal Vikash & Co., Chartered Accountants [FRN

– 136622W M. No. 067400] was appointed as internal auditor for the year ending 31st

March, 2019. During the year CA Vikash Kumar has submitted Quarterly audit report

to the managing committee without any adverse objections or remarks.

12. ACKOWLEDGEMENTS :

The Managing Committee places on record its deep appreciation valuable and

gratitude for the support and guidance received from office bearers of WIRC and

Headquarters of ICSI for carrying out the various activities of the Chapter. We also,

very much thankful to the previous Managing Committee for their efforts to the

development of the Chapter. Also, express our sincere thanks to Principal and staff of

Western College for providing examination Centre during the June, 2019 and

December, 2019 respectively. The Managing committee also expresses the

appreciation towards the support from ICICI Bank, Vashi, Navi Mumbai, Statutory

Auditors, Internal Auditors, all the Members of Navi Mumbai Chapter and all the

Students of the Chapter for their whole hearted support in the growth of the Chapter.

For and on behalf of Managing Committee of

Navi Mumbai Chapter of WIRC of ICSI

Sd/-

CS Sandeep Parekh

Chairman

Date: 16/06/2020

Place: Navi Mumbai (MH)

Independent Auditor’s Report

To the Members of Navi Mumbai Chapter of WIRC of ICSI, Navi Mumbai

Report on the Financial Statements We have audited the accompanying standalone financial statements of Navi Mumbai Chapter of WIRC of

ICSI (‘the Chapter’), which comprise the balance sheet as at 31 March 2020, the statement of Income and

Expenditure and statement of cash flow for the year then ended and a summary of the significant

accounting policies and other explanatory information.

Management’s Responsibility for the Standalone Financial Statements The Management of Navi Mumbai chapter is responsible for preparation of these Financial Statements in

accordance with Company Secretaries Act, 1980 (“the Act”) that gives a true and fair view of the

financial position, financial performance and cash flows of the chapter in accordance with the accounting principles generally accepted in India. This responsibility also includes maintenance of adequate

accounting records in accordance with the provisions of the Act for safeguarding the assets of the Chapter

and for preventing and detecting frauds and other irregularities; selection and application of appropriate

accounting policies; making judgments and estimates that are reasonable and prudent; and design, implementation and maintenance of adequate internal financial controls, that were operating effectively

for ensuring the accuracy and completeness of the accounting records, relevant to the preparation and

presentation of the financial statements that give a true and fair view and are free from material misstatement, whether due to fraud or error.

Auditor’s Responsibility

Our responsibility is to express an opinion on these Standalone financial statements based on our audit.

We have taken into account the provisions of the Act, the accounting and auditing standards and matters

which are required to be included in the audit report under the provisions of the Act and the Rules made there under.

We conducted our audit in accordance with the Standards on Auditing specified under Section 143(10) of the Act. Those Standards require that we comply with ethical requirements and plan and perform the audit

to obtain reasonable assurance about whether the financial statements are free from material

misstatement.

An audit involves performing procedures to obtain audit evidence about the amounts and the disclosures

in the financial statements. The procedures selected depend on the auditor’s judgment, including the

assessment of the risks of material misstatement of the financial statements, whether due to fraud or error. In making those risk assessments, the auditor considers internal financial control relevant to the Chapter’s

preparation of the financial statements that give a true and fair view in order to design audit procedures

that are appropriate in the circumstances, but not for the purpose of expressing an opinion on whether the chapter has in place an adequate internal financial controls system over financial reporting and the

operating effectiveness of such controls. An audit also includes evaluating the appropriateness of the

accounting policies used and the reasonableness of the accounting estimates made by the Company’s

Directors, as well as evaluating the overall presentation of the financial statements.

We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for

our audit opinion on the standalone financial statements.

Opinion

In our opinion and to the best of our information and according to the explanations given to us, the aforesaid standalone financial statements give the information required by the Act in the manner so

required and give a true and fair view in conformity with the accounting principles generally accepted in

India, of the financial position of the Chapter as at 31 March, 2020, and its statement of Income &

Expenditure account and statement of cash flow for the year ended on that date.

Report on Other Legal and Regulatory Requirements.

Further we report that:

(a) We have sought and obtained all the information and explanations which to the best of our

knowledge and belief were necessary for the purposes of our audit.

(b) In our opinion proper books of account as required by law have been kept by the Chapter so

far as it appears from our examination of those books;

(c) The balance sheet, the statement of income & expenditure, dealt with by this Report are in

agreement with the books of account;

(d) In our opinion, the aforesaid standalone financial statements comply with the Accounting

Standards specified under Section 133 of the Act read with rule 7 of the Companies (Accounts)

Rules, 2014.

For S M V K & Co.

Chartered Accountants

FRN:- 143491W

Sd/-

CA Vaibhav Kamble

Partner

M.No. 173811

Place:- Navi Mumbai

Date:-16.06.2020

UDIN : 20173811AAAAAR6705

(Amount in Rs.)

PARTICULARS NOTE NO. As at 31st March 2020 As at 31st March 2019

I. SOURCES AND LIABILITIES

(1) Reserves & Surplus

(a) Reserve & Surplus 1 2,630,619 1,988,417

(b) Earmarked Funds 2 - -

SUB-TOTAL (1) 2,630,619 1,988,417

(2) Non- Current Liabilities

(a) Long Term Borrowings

(b) Long Term Liabilities

(c) Long Term Provisions

SUB-TOTAL (2) - -

(3) Current Liabilities

(a) Short Term Borrowings

(b) Sundry Creditors 3 24,605 150

(c) Other Current Liabilities 4 79,964 18,223

(d ) Short term Provisions 5 203,000 -

SUB-TOTAL (3) 307,569 18,373

TOTAL (1+2+3) 2,938,188 2,006,789

II. ASSETS(1) Non-current Assets

(a) Fixed Assets 6 86,834 106,060.00 (i) Tangible Assets (ii) Intangible Asssets

(iii) Capital Work in Progress

(iv) Intangible Assets under development

SUB-TOTAL (a) 86,834 106,060.00

(b) Non-current Investments 7 -

(c ) Long Term Loan and Advances

(d) Other Non-Current Assets

SUB-TOTAL (1) 86,834 106,060.00

(2) Current Assets

(a) Current Investments 8 -

(b) Inventories 9 -

(c ) Sundry Debtors 10 175,000 175,000

(d) Cash and Cash Equivalents 11 2,676,354 1,718,328

(e) Short terms Loans and Advances 12 - -

(f) Other current Assets 13 - 7,401

SUB-TOTAL (2) 2,851,354 1,900,729

TOTAL (1) + (2) 2,938,188 2,006,789

ACCOUNTING POLICIES AND OTHER NOTES TO THE ACCOUNTS 20

Notes referred to above form an integral part of the Balance Sheet.

As per our report of even date.

For S M V K & Co. Sd/- Sd/- Sd/- Chartered Accountants CS Sandeep Parekh CS Ashish Pandey FRN : 143491W Chairman Vice Chairman

Sd/-

Vaibhav Kamble Sd/- Sd/- Partner CS Kush Gupta CS Roopa Agrawal Membership No. 173811 Secretary Treasurer Place : Navi Mumbai Date : 16.06.2020 UDIN : 20173811AAAAAR6705

NAVI MUMBAI CHAPTER OF WIRC OF ICSIBALANCE SHEET AS AT 31st MARCH,2020

For and on Behalf of Managing Committee / Regional Council

P. S. Emmanuel

(Office Incharge)

(Amount in Rs. )

31st March 2020 31st March 2019INCOME

Income from Activities 14 1,113,135 823,282

Interest on Investments

Other Income 15 708,002 218,098

TOTAL INCOME 1,821,137 1,041,380

EXPENDITURE

Employee Benefit Expense 16 2,212 12,167

Oral Eduction Expense 183,000 140,000

Travelling and Conveyance Expense 17 8,237 6,238

Programmes / Seminars Expense 18 466,331 438,674

Career Awareness and Promotion Expense 11,089

Depreciation & Amortization 19,226 32,396

Other Expenses 19 582,629 396,866

TOTAL EXPENDITURE 1,272,724 1,026,342

Surplus before extraordinary & exceptional items 548,412 15,038

Add / Less : Extra Ordinary Items

Add / Less : Exceptional Items

Surplus on Disposal of Assets

Loss on sale /Disposal /write-off of Assets

Prior period expenses (net)

Surplus after extra ordinary & exceptional items

Appropriation to Funds / Reserves :

(i)

(ii)

(iii)

TOTAL APPROPRIATIONS - -

Balance transferred to General Reserve 548,412 15,038

TOTAL 548,412 15,038 ACCOUNTING POLICIES AND OTHER NOTES TO THE ACCOUNTS 20

Notes referred to above form an integral part of the For and on Behalf of Managing Committee / Regional Council Income & Expenditure A/c.

As per our report of even date annexed.

For S M V K & Co. Sd/- Sd/- Sd/- Chartered Accountants CS Sandeep Parekh CS Ashish Pandey FRN : 143491W Chairman Vice ChairmanSd/- Vaibhav Kamble Partner Sd/- Sd/- Membership No. 173811 CS Kush Gupta CS Roopa Agrawal Place : Navi Mumbai Secretary Treasurer Date : 16.06.2020 UDIN : 20173811AAAAAR6705

P. S. Emmanuel

(Office Incharge)

NAVI MUMBAI CHAPTER OF WIRC OF ICSI INCOME & EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31st MARCH 2020

For the year ended PARTICULARS Note No.

2019-20 2018-19Cash Flow from Operating Activity

548,412 15,039

Add : Depreciation on Fixed Assets 19,226 32,396 : Stock Written off: Bad Debts and Provision for Doubtful Debts:Miscellaneous -

567,639 47,435 Less: : Income from Investment -

: Provisions no longer required back and amount written off-

: Surplus on Disposal of Assets - - 567,639 47,435

(Increase)/Decrease in Inventory - - (Increase)/Decrease in Sundry Debtors - (5,834) (Increase)/Decrease in Short Term Loans & Advances - - (Increase)/Decrease in Other Current Assets 7,401 (Increase)/Decrease in Long Term Loans & Advances(Increase)/Decrease in Other Non Current Assets

93,789 Increase/(Decrease) in Sundry Creditors 24,455 3,266 Increase/(Decrease) in Other Current Liabilities 62,042 2,279 Increase/(Decrease) in Short Term Provisions 203,000 Increase/(Decrease) in Long Term Liabilities and Provisions -

Net cash generated from operating activity. 958,326 47,145

Cash flow from Investing ActivityIncome from Investments - - Sale Proceeds of Redumption of InvestmentsAcquisition of InvestmentsSale Proceeds of Fixed AssetsAcquisition of Fixed Assets including WIP

Net Cash used in Investing Activity - - Cash flow from Financing ActivityCash Flow from Financing Activity

Addition in Corpus Donation - 6,000

Cash Generated From Financing Activities - 6,000

Net cash generated from Financing Activities. - 6,000

958,326 53,145

1,718,028 1,664,883

Cash and cash equivalent at the end of the year 2,676,354 1,718,028

Note: 123 Cash and cash equivalents include:ab Balances with Scheduled Banks

- In Savings Bank accounts (incl Term deposits)

As per our report of even date. For and on Behalf of Managing Committee / Regional Council

For S M V K & Co.Chartered Accountants Sd/- Sd/- Sd/-FRN: 143491W CS Sandeep Parekh CS Ashish Pandey

Chairman Vice ChairmanSd/-Vaibhav KamblePartner Sd/- Sd/-Membership No. 173811 CS Kush Gupta CS Roopa AgrawalPlace: Navi Mumbai Secretary TreasurerDate : 16.06.2020

UDIN : 20173811AAAAAR6705

NAVI MUMBAI CHAPTER OF WIRC OF ICSICash Flow Statement for the year ended 31st March 2020

Net Surplus after Prior period, Extra ordinary

Cash flow from operation after adjustment

Operating Surplus before Working Capital

Increase /(Decrease) in Current Assets and

(Increase)/Decrease in GR/Contribution / Utilisation to RC / Chapters

P. S. Emmanuel (Office Incharge)

Net Cash Flow for the Year ended as on 31st March 2020 (A)

Cash and cash equivalent at the beginning of the year (B)

The above Cash Flow Statement has been derived using the Indirect method prescribed in AS-3.Enclosed Notes 1 to 20 form an intergral part of the Cash Flow Statement.

Cash, Cheques/Drafts/Postal Orders & Postage Stamps/ Franking units.

NAVI MUMBAI CHAPTER OF WIRC OF ICSI

RESERVES & SURPLUS Note - 1

(Amount in Rs. )

PARTICULARS 31st March 2020 As at 31st March 2019

(1) GENERAL RESERVE

As per last Balance Sheet 1,561,944 1,546,906 Add : (i) Donations (ii) Transfer from any Specific /Other Reserve -

(iii) Additions during the year (mention specific source) 93,789

Less :

(i) Transfer to Specific / Other Reserves

(ii) Utilisation (mention specific purpose/nature)

SURPLUS (Excess of Income over Expenditure transferred from I&E A/c) 548,412 15,038

Sub-Total (1) : 2,204,145 1,561,944 (2) OTHER THAN GENERAL RESERVES, IF ANY

(2A) BUILDING RESERVE As per last Balance Sheet 110,851 110,851 Add : InterestAdd : DonationsAdd : Transfer from ReservesAdd : Transfer from I&E AccountLess : Utilisation / transfer (mention specific purpose/nature)

Sub-Total (2A) : 110,851 110,851

(2B) LIBRARY RESERVE

As per last Balance Sheet

Add : Interest

Add : Donations

Add : Transfer from Reserves

Less : Utilisation / transfer (mention specific purpose/nature)

Sub-Total (2B) : - -

(2C) INFRASTRUCTURE RESERVE

As per last Balance Sheet

Add : Interest

Add : Donations 6,000 6,000

Add : Transfer from Reserves

Add : Transfer from I&E Account

Less : Utilisation / transfer (mention specific purpose/nature)

Sub-Total (2C) : 6,000 6,000

(2D) OTHER RESERVE

As per last Balance Sheet 0 0

Add : Interest

Add : Transfer from Reserves

Add : Transfer from I&E Account

Less : Utilisation / transfer (mention specific purpose/nature)

Sub-Total (2D) : 0 0

TOTAL (2) : 116,851 116,851 (3) CONTRIBUTION TO /FROM TOWARDS LAND & BLDG / OTHER ASSETS

Add : Contribution (Liabilities) 309,622.00 309,622

Less : Contribution (Assets)

TOTAL (3) : 309,622.00 309,622

Total : (1)+(2) +(3) : 2,630,619 1,988,417

NAVI MUMBAI CHAPTER OF WIRC OF ICSI Note - 2

EARMARKED FUND(Amount in Rs. )

2019-20 2018-19 2019-20 2018-19 2019-20 2018-19

As per last Balance Sheet -

Add: Contribution during the year

Add: Transfer from Gen Reserve

Add: Receipts during the year

Add: Interest allocation

Sub-Total : - - - -

Less: Transfer to GR on utilisation

Less: Utilised during the year

Balance as at the close of the year - - - - - -

PARTICULARSINFRASTRUCTURE FUND ENDOWMENT FOR

PRIZE AWARD FUND TOTAL AMOUNT

NAVI MUMBAI CHAPTER OF WIRC OF ICSI

NOTE - 3SUNDRY CREDITORS (Amount in Rs.)

PARTICULARS As at 31st March 2020 As at 31st March 2019

Sundry Creditors - For Goods & Services 2,006 - Others 150 150 - Inter Unit Balance (for details pl see below) 22,449

Total : 24,605 150

Inter Unit Balance (Amount in Rs.) PARTICULARS As at 31st March 2020 As at 31st March 2019

Payable to HQ - Sales Proceeds of HQ Publications - - Advance from HQ - - Others, if any -

- - Receivable from HQ

- Reimbursement (Item-wise) - Convenyance Expenses (2016-17) - - - CAP Expenses - 7,401 - TDS (year-wise)

- 7,401 Total : - 7,401-

NOTE - 4OTHER CURRENT LIABILITIES (Amount in Rs.)

PARTICULARS As at 31st March 2020 As at 31st March 2019

Other Current Liabilities (i) Fee received in advance from Members (ii) Fee received in advance from Students (iii) Security Deposits (iv) Other Current Liabilities - Outstanding Expenses 18,900 10,798 - Property Tax - TDS (Yearwise) - GST 7,162 7,425 - Others 53,902

Total : 79,964 18,223

NOTE - 5SHORT TERM PROVISIONS (Amount in Rs.)

PARTICULARS As at 31st March 2020 As at 31st March 2019

(i) Expense Payable a) Hall Rent 53,100 - b) Office Rent 123,900 - c) - (ii) Provision for expenses a) Statutory Audit Fees 6,000 b) Internal Audit Fees 20,000 c)

Total : 203,000 -

NAVI MUMBAI CHAPTER OF WIRC OF ICSI

FIXED ASSETS ( Amount in Rs.)

Gross Block Net BlockCost Adjustment/ Total cost Total For the Adjustment/ Total as on as on as on Transfer/Sale as on as on Year Transfer/ as on 31.3.2020 31.3.2019

1.4.2019 31.3.2020 1.4.2019 Sale 31.3.2019

(i) Tangible Assets Furniture & Fixtures 10% 76,000 76,000 21,704 5,430 27,134 48,866 54,296

Computer Peripherals 40% 130,100 130,100 105,971 9,652 115,623 14,477 24,129

Cooling Equipment 15% 45,000 45,000 17,365 4,145 21,510 23,490 27,635

Electrical Equipment 15% - - -

Office Machines and - - -

Communication Equipment 15% - - -

Other Equipment 15% - - -

Library Books 100% - -

Vehicles 20% - - -

Current Year Total (i) 251,100 - - 251,100 145,040 19,226 - 164,266 86,834 106,060

Previous Year Total (i)(ii) Intangible Assets

ERP Software 1/3 16,200 16,200 16,200 - 16,200 - 5,400

Current Year Total (ii) 16,200 - - 16,200 16,200 - - 16,200 - 5,400

Previous Year Total (ii) - -

Current Year Total (i+ii) 267,300 - - 267,300 161,240 19,226 - 180,466 86,834 106,060

Previous Year Total (i+ii) - - - - - - - - - -

FIXED ASSETS (Capital work in progress)

Cost Additions Adjustment/ Total cost as on Transfer/ as on

1.4.2019 Sale 31.3.2020

(iii)

- - - -

- - - -

(iv)

- - - -

- - - -

NOTE - 6

Items

Depreciation / Impairment

Additions

Rate of Depreci

ation

Gross Block

Intangible Assets under development

Computer Software

Current Year Total (iv)

Previous Year Total (iv)

Items

Capital Work in Progress Land under acquisition

Buildings under construction

Current Year Total (iii)

Previous Year Total (iii)

NAVI MUMBAI CHAPTER OF WIRC OF ICSI

NON CURRENT INVESTMENTS (Amount in Rs.)

AS ON AS ON

01.04.2019 31.03.2020

I

- - - -

II

- - - -

III

- - - -

IV

(A)

- - - -

(B)

- - - -

(C)

- - - -

TOTAL IV : - - - -

TOTAL (I+II+III+IV) : - - - -

SUB-TOTAL(III) :

SUB-TOTAL (IV-A) :

SUB-TOTAL (IV-B) :

SUB-TOTAL (IV-C) :

INVESTMENT IN DEBENTURES / BONDS

INVESTMNET IN MUTUAL FUNDS

SUB-TOTAL(II) :

OTHER NON-CURRENT INVESTMENTS

NOTE - 7

ADDITIONS DELETIONSPARTICULARS

SUB-TOTAL(I) :

INVESTMNET IN GOVT. SECURITIES

Fixed Deposits in Banks

OTHERS (Specify nature)

Fixed Deposits with institutions other than Banks

NAVI MUMBAI CHAPTER OF WIRC OF ICSI

CURRENT INVESTMENTS (Amount in Rs.)

AS ON AS ON

01.04.2019 31.03.2020

I

- - - -

II

- - - -

III

- - - -

IV

(A)

- - - -

(B)

- - - -

(C)

- - - -

TOTAL IV : - - - -

TOTAL (I+II+III+IV) : - - - -

Fixed Deposits with institutions other than Banks

NOTE - 8

PARTICULARS ADDITIONS DELETIONS

SUB-TOTAL(I) :

INVESTMNET IN GOVT. SECURITIES

Fixed Deposits in Banks

SUB-TOTAL (IV-A) :

SUB-TOTAL(III) :

OTHER NON-CURRENT INVESTMENTS

INVESTMENT IN DEBENTURES / BONDS

SUB-TOTAL(II) :

INVESTMNET IN MUTUAL FUNDS

SUB-TOTAL (IV-B) :

OTHERS (Specify nature)

SUB-TOTAL (IV-C) :

NAVI MUMBAI CHAPTER OF WIRC OF ICSI

NOTE - 9

INVENTORIES (Amount in Rs.)

PARTICULARS

Publications (RO / Chapters own)

Consumables, Stores & Others (RO / Chap own)

Total :

NOTE - 10

SUNDRY DEBTORS (Amount in Rs.)

PARTICULARS

Sundry Debtors outstanding for more than six months

MCA 175,000.00 175,000.00

Unsecured, considered good

Doubtful

Less : Provision for Bad and Doubtful advance

SUB-TOTAL (a) 175,000.00 175,000.00

Others Sundry Debtors

Secured , considered good

Unsecured , considered good

Doubtful

Less : Provision for Bad and Doubtful advance

SUB-TOTAL (b) -

Total : 175,000.00 175,000.00

NOTE - 11

CASH AND CASH EQUIVALENTS (Amount in Rs.)

PARTICULARS

Balances with Bank (Including linked term deposits) 2,669,090 1,694,344

Cheques / Drafts / Postal Orders / Stamps /

Franking Units in hand

Cash in hand 7,264 23,984.00

Total : 2,676,354 1,718,328

As at 31st March 2020 As at 31st March 2019

As at 31st March 2020 As at 31st March 2019

As at 31st March 2020 As at 31st March 2019

NAVI MUMBAI CHAPTER OF WIRC OF ICSI

NOTE - 12

SHORT TERM LOANS AND ADVANCES (Amount in Rs.)

PARTICULARS

SHORT TERM LOANS AND ADVANCES

Secured, considered good

-

-

Unsecured, considered good

-

-

Doubtful

Less : Provision for Bad and Doubtful advance

Total :

NOTE - 13

OTHER CURRENT ASSETS (Amount in Rs.)

PARTICULARS

OTHER CURRENT ASSETS

Accrued Interst on Current Investments

Accrued Interst on Non-Current Investments

Prepaid Expenses

Input Tax Credit 0

CENVAT Credit

Recoverable from Headquarter (with break up)

- Reimbursement (with break up) -

- Convenyance Expenses (2016-17) - 0

- CAP Expenses 0 7401

Recoverable from Regional Offices (with break up)

- Reimbursement (with break up)

Chairman Meeting Expenses (WIRC) - 0

Recoverable from Parties / Vendors (with break up)

Total : - 7,401.00

As at 31st March 2020 As at 31st March 2019

As at 31st March 2020 As at 31st March 2019

NAVI MUMBAI CHAPTER OF WIRC OF ICSI Note -14

INCOME FROM ACTIVITIES (Amount in Rs.)

Income from Students

Oral Education Fee 584,000.00 217,000.00 Other Fees : Library Annual Subscription Library Fine

Sale of Publications (RC /Chap own)

Programmes / Seminars From Members 439,967.00 537,782.00 - - From Students - Students Training Programmes 89,168.00 68,500.00 - Others

Total : 1,113,135.00 823,282.00

PARTICULARS For the year ended31st March 2020 31st March 2019

NAVI MUMBAI CHAPTER OF WIRC OF ICSI

Note -15

OTHER INCOME (Amount in Rs.)

Subscription to Newsletter

Incentive on Investments

Investor Awarness Programmes

Provision no longer required, written-back

Donations - General

Rent

Grants received from Headquarters 634,287 145,024.00

Grants received from Regional Office - -

Interest Received from Bank 73,410 61,207.00 Unpaid Security Deposits / EMD / Retention Money/ Stale Cheques

Miscellaneous 305 11,867.00

Total : 708,001.78 218,098.00

PARTICULARSFor the year ended

31st March 2020 31st March 2019

NAVI MUMBAI CHAPTER OF WIRC OF ICSI

Note -16

EMPLOYEE BENEFIT EXPENSE (Amount in Rs.)

Salaries and Allowances

a)

b)

c)

Staff Welfare 2,212.00 12,167.00

a)

b)

c)

TOTAL 2,212.00 12,167.00

Note -17

TRAVELLING AND CONVEYANCE EXPENSE (Amount in Rs.)

Travelling Expenses

Conveyance Expenses 8,237.00 6,238.42

TOTAL 8,237.00 6,238.42

Note -18

PROGRAMMES / SEMINAR EXPENSES (Amount in Rs.)

Programmes / Seminars of Members

a) 380,107 415,323.00

b)

c)

Programmes / Seminars of Students

a) Students Training Programmes 60,363 23,351.00

b) Other Programmes 25,861 -

TOTAL 466,331.00 438,674.00

PARTICULARS For the year ended

31st March 2020 31st March 2019

PARTICULARS For the year ended

31st March 2020 31st March 2019

PARTICULARS For the year ended

31st March 2020 31st March 2019

NAVI MUMBAI CHAPTER OF WIRC OF ICSI Note - 19

OTHER EXPENSES (Amount in Rs.)

Stationery 19,920 4,316.00

Chapter Office Utilization Expenses 420,000 310,000.00

Chapter Office Utilization Expenses 18-19 70,000

Legal and Professional Services 25,300 12,000.00

Rent, Rates and Taxes -

Electricity and Water -

Communication Expense

- Telephone / Fax 12,656 10,250.00

- Mobile - 3,434.00

- Courier / Postage 1,552 3,975.00

Insurance -

Repairs and Maintenance

- Buildings -

- Computer 3,068 1,250.00

- Other Assets - 4,782.86

- Vehicles

Office Expenses 6,127 10,551.46

Newspapers and Periodicals -

Meeting expenses 500

Computerisation (Data Processing) -

Prior-period expenses -

Packing and Despatch -

Loss on Sale/ Disposal/Write-off of Assets -

Loss/Write-off of Stocks -

Bank Charges 118

Student Scholarship and Awards -

Auditors Remuneration (including Service Tax)

- Statutory Audit Fees 6,000 6,000.00

- Statutory Audit Other Services - -

- Internal Audit Fees 7,500 7,500.00

Bulk Mail / SMS Charges - 22,808.00

Investor Awarness Programmes

TDS / Income Tax Recoverable written off

Bad Debts

GST Paid 9,888

TOTAL - 582,629.00 - 396,867.32

PARTICULARS For the year ended31st March 2020 31st March 2019

THE INSTITUTE OF COMPANY SECRETARIES OF INDIA

NOTE - …..

ACCOUNTING POLICIES AND NOTES TO ACCOUNTS

(A) ACCOUNTING POLICIES

1. Basis of Preparation of Financial Statements

The Financial Statements are drawn up on historical cost basis and have been prepared in

accordance with applicable Accounting Standards issued by the Institute of Chartered Accountants

of India and are on accrual basis unless otherwise stated.

2. Uses of Estimates The preparation of Financial Statements requires some estimates which affect the reported amounts of assets and liabilities on the date of Financial Statements and the reported amount of revenues and

expenses during the year. Difference between the actual result and estimates are recognized in the

period in which results are known/ materialized.

3. Revenue Recognition

a. The Entrance Fee is collected at the time of admission of a person as a Member and is directly

credited to “Capital Reserve”.

b. Fees received from Members are accounted for on cash basis. However, fees received in advance

are carried over as a liability.

c. Fee from students is recognized on cash basis.

d. Examination fee is recognized on the basis of conduct of examination.

e. Revenue from sale of publications is recognized at the time of preparing the sale bill, ie. when the

property in goods as well as the significant risks and rewards of the property get transferred to buyer.

f. Income from Investments i) Dividend on investments is recognized on receipt basis. ii) Income on interest-bearing securities and fixed deposits is recognized on a time proportion basis

taking into account the amount outstanding and the rates applicable.

g. Receipt of money for specific sponsored Programmes is recognised on a systematic basis in the Income & Expenditure Account over the periods necessary to match them with the related costs

which they are intended to compensate. Unspent balance of such receipts, if any, is carried to next

year.

4. Investments

a. Long term Investments are carried at cost and diminution in value, other than temporary, is provided for.

b. Current investments are carried at lower of cost or fair value.

5. Fixed Assets / Depreciation and Amortization

a. Fixed Assets excluding Land are stated at historical cost less depreciation.

b. Freehold land is stated at cost. Leasehold land is stated at the amount of premium paid for acquiring the lease rights. The premium paid on leasehold land is amortized over the period of

lease.

c. Depreciation is provided on the Written Down Value method at the following rates as approved by

the Council, based on the useful life of the respective assets :

Item %

Buildings 5

Furniture and Fixtures 10

Lifts/Air Conditioners/Other Equipments 15

Vehicles 20

Computers / Mobile Phones 40

d. Depreciation on additions to Fixed assets is provided on pro-rata basis. No depreciation is charged

in the year of sale.

e. Fixed Assets costing ` 5,000 or less are fully depreciated.

f. Library books are depreciated at the rate of 100% in the year of purchase. g. Intangible Assets (Software) are amortized equally over a period of three years.

6. Impairment of Assets The carrying amounts of assets are reviewed at each Balance Sheet date if there is an indication of

impairment based on internal / external factors. The impairment loss isrecognized wherever the

carrying amount of an asset exceeds its recoverable amount. The recoverable amount is higher of asset’s net selling price or value in use. In assessing the value in use, the estimated future cash flows

are discounted to their present value at the weighted cost of capital.

7. Inventories

Inventories of Consumables, Publications, Study Materials, etc. are valued at lower of cost or net

realizable value. The cost is determined on FIFO basis.

8. Foreign Currency Transactions

a. Foreign currency transactions are recorded on initial recognition in the reporting currency by

applying to the foreign currency amount at the exchange rate prevailing as on the date of transactions.

b. All incomes and expenses are translated at average rate. All monetary assets / liabilities are translated at the year end rates whereas non-monetary assets are carried at the rate on the date of

transaction.

c. All incomes or expenses on account of exchange rate difference are recognized in the Income and Expenditure Account.

9. Employee Benefits (Not applicable for RO / Chapter) Defined Contribution Plan

a. Contributions to Provident Fund Trust maintained by the Institute are recognized as expenses. Defined Benefit Plan

b. Amount payable/recoverable to/from Gratuity Fund Trust are recognized as liability/assets in

the balance sheet based on the valuation report received from LIC for present obligation of

liability at the year end.

c. Contribution to Pension Fund Trust are made based on actuarial valuation and recognized as an

expense as per AS-15 (Revised).

d. Provision for leave encashment is made on the basis of actuarial valuation and recognized as an expense as per AS-15 (Revised).

10. Provisions

A provision is recognized when an enterprise has a present obligation as a result of past events;

it is probable that an outflow of resources will be required to settle the obligation, in respect of which a reliable estimate can be made. Provisions are not discounted to its present value and

are determined based on best estimate required to settle the obligations at the Balance Sheet

date. These are reviewed at each Balance Sheet date and adjusted to reflect the current best estimates.

11. Contribution to Approved Funds

Allocation /Contributions to ICSI Students Education Fund Trust, ICSI National Award for

Corporate Governance, ICSI Employees Medical Hospitalization Trust, Company Secretaries

Benevolent Fund, ICSI Employees Benevolent Fund, Performance-related Incentive Fund and Infrastructure Fund, Professional Development Fund are made based on the amount as

approved by the Council from time to time.

12. Allocations / Transfer to Reserves and Surplus and Earmarked Funds

a. Corpus donation / donation for Building & Other Specific Fund received during the year is

directly taken to such Reserve.

b. Income from investment of earmarked funds is allocated at the rate of 8% p.a. to the respective earmarked funds on the average of Opening & Closing balances and the amount utilized there

from is debited to such funds. 13.Old outstanding amounts under the heads of ‘Earnest Money Deposits, Retention Money,

Security Deposits and Stale Cheques’

Earnest Money Deposits, Retention Money, Security Deposits and Stale Cheques remaining

unpaid for more than three years after the due date for payment, wherever applicable, is treated

as income.

(B) NOTES TO ACCOUNTS (Notes must be given even if the amount / particulars are

Nil)

1. Contingent Liability

2. Prior Period Income / Expenditure

3. Capital Commitments 4. Other Commitments

5. Donation in kind

6. Related Party Transactions

As per our report of even date. For and on behalf of the Regional Council /

Management Committee

For S M V K & Co

Chartered Accountants FRN :- 143491W

Sd/- Sd/- Sd/-

Sd/- PS Emmanuel (CS Sandeep Parekh) (Ashish Pandey) CA Vaibhav Kamble Office in Chairman Vice Chairman

Charge

Partner

M No.173811

Place: Navi Mumbai Sd/- Sd/-

(CS Kush Gupta) (CS Roopa Agrawal) Date:16.06.2020 Secretary Treasurer