Office bearers Of nOrthern india regiOnal cOuncil Of icsi ... · for nIrC-ICSI newsletter-Insight CS Shweta Dixit - 9891318222 CS Harish Kumar - 9871042232 CS Manoj Kumar - 9910688433

Monthly • Volume XXXVII • Page 1-24 • No.02 • February, 2018

National Best Regional Council (2004, 2007, 2008, 2009, 2010, 2011, 2013, 2014, 2015 & 2016)

1 Celebration of 69th Republic Day & Flag Hoisting; Kavi Samellan and Skit by Members (26.1.2018): Chief Guest: Shri G.R. Raghavender, Joint Secretary, Ministry of Law & Justice; CS Pradeep Debnath, CS Ranjeet Pandey,CS Nitesh Kumar Sinha and members seen after hoisting the flag.

2 Program on Union Budget-2018 (2.2.2018): L to R CS Ranjeet Pandey, CS Satwinder Singh, CS Pradeep Debnath, Shri Vineet Bhatia, Advocate; CS Rajiv Bajaj; CS Vineet Chaudhary, CA Rajesh Sharma, Council Member-ICSI (Govt. Nominee) and CS Dhananjay Shukla

3 Interactive Session on Companies Amendment Act, 2017 (3.2.2018): L to R CS Manish Gupta, CS Yogesh Gupta, Past Chairman-NIRC, CS Pradeep Debnath, CS Ranjeet Pandey, Council Member-ICSI and CS Nitesh Kumar Sinha

VisionTo be a global leader

in promoting good corporate governance

MissionTo develop high

calibre professionals facilitating goodcorporate governance

CS Makarand LeLePresident

CS aHaLada raO V.Vice-President

CS Pradeep debnathChairman

CS rajeev BhambriVice-Chairman

CS nitesh kumar SinhaSecretary

Office bearers Of nOrthern india regiOnal cOuncil Of icsi (2018)

President and vice-President Of icsi (2018)

1

2

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NIRC - ICSI Newsletter | February 2018 2

From the Chairman

Chairman CS Pradeep debnath 09910562121

Vice-Chairman CS rajeev Bhambri 09915710010

Secretary CS nitesh kumar Sinha 09871500827

Members(in alphabetical order)

CS amit Gupta 09415005108

CS avtaar Singh 09999789891

CS deepak arora 09351788834

CS dhananjay Shukla 09873347280

CS Manish aggarwal 09988114441

CS Manish Gupta 09212221110

CS Monika kohli 09810480983

CS nPS Chawla 09958535300

CS Saurabh kalia 09810979440

Ex-officio Members CS rajiv Bajaj 09811453353

CS ranjeet Pandey 09810558049

CS Satwinder Singh 09871686000

CS Shyam agrawal 09314923451

CS Vineet k Chaudhary 09811577123

Regional Director CS alka arora 09810375788

The Regional CounCil

© The northern India regional Council of the Institute of Company Secretaries of India. 2017.

Help desk of [email protected]

MeMBerS Of exPerT adVISOry for nIrC-ICSI newsletter-Insight

CS Harish K. Vaid - 9810188683CS N.K. Jain - 9818348811CS Ilam C Kamboj - 9810198429CS G P Madaan - 9810530312CS (Dr.) S Chandrasekran - 9871529529CS P.K. Rustagi - 9811652010CS (Prof ) J P Sharma - 9910401777

MeMBerS Of edITOrIaL adVISOry BOard for nIrC-ICSI newsletter-Insight

CS Shweta Dixit - 9891318222CS Harish Kumar - 9871042232CS Manoj Kumar - 9910688433CS Aishwarya Mohan Gahrana - 9650338103CS Divesh Goyal - 8130757966

Printed & Published by :Alka Arora for and on behalf of Northern India Regional Council of the Institute of Company Secretaries of India 4, Prasad Nagar Institutional Area, New Delhi-110005; E-mail: [email protected]; Phones: 49343000; Fax: 25722662; Printed at : KT Printers 18/114 C, Street No.3, East Moti Bagh, Sarai Rohilla, Delhi -110007; Published at: NIRC-ICSI, 4, Prasad Nagar instl. Area, New Delhi.

The secret of change is to focus all of your energy, not on fighting the old, but on building the new.

- Socratesand everything will work out in the end. you don’t need to know how. you just have to trust that it will.

Dear Professional Colleagues,

It is a matter of great privilege & honour for me to communicate with you as Chairman, NIRC. I am indeed humbled, rejoiced and pray for your best wishes and blessings in order to discharge this august responsibility.

At the outset, I take this opportunity to convey my sincere thanks & gratitude to all my Regional Council colleagues and friends for reposing confidence in me and electing me as Chairman for the year 2018. I pray Almighty to give me sufficient strength and courage to perform my duties as Chairman, NIRC to the satisfaction of the students, members, staff and other stakeholder with full dedication and commitment.

On behalf of Team NIRC, my heartiest congratulation to CS Makarand Lele &, CS Ahalada Rao V newly elected President & Vice President, ICSI respectively, on assuming their august office for the year 2018. I also take this opportunity to congratulate the newly elected office bearers of Western, Southern and Eastern regions and all respective chapters of the Institute. I am sure that under their able leadership and guidance our profession will attain newer heights, and deeper results.

This year the focus will be on the Capacity Building of Members & Students and to facilitate women & young member for boosting their confidence, Student Services, Infrastructure development at Chapters & effective co-ordination with them, steps towards creation of more visibility & betterment of CS Profession by active industry interface.

The infrastructure development of our Chapters will be important


From the Chairman

priority. Special attention to training and education of students along with organizing of regular workshops for our members has been contemplated. The focus will be on branding and visibility & conducting series of meetings with regulators ,industry leaders ,Chairmen of various banks & Insurance Companies, CEO’s ,CFO’s and HR heads of various organizations in North India to boost their confidence in us by showcasing them our professional competence and capabilities of our professionals.

I take this opportunity to inform few of the new initiatives taken:

Opportunity to young members:

Your NIRC is always on a forefront and always strive to build the capacity and confidence of our young brigade of Company Secretaries by empowering them to face the challenges of the Corporate world.

In order to give opportunity and platform to our young members and also to enhance their communication and presentation skills, it has been decided that the various activities, like seminar, conferences, workshops, class room series, study sessions, PCS Meetings, addressing on CS Course in Career Awareness Programs in Schools/Colleges, etc., as may be organized by NIRC-ICSI for members and students, will be made available to the young members as a platform and opportunity to hone their communication and presentation skills. The Members will be provided with an opportunity to coordinate the complete sessions independently or jointly with other member.

This endeavour of nIrC will surely help them to excel in their skills in managing and conducting the aGM / eGM for their respective companies or for their client companies. Members are requested to grab this opportunity for their own benefit and to serve the profession.

CS Connect –through skypeWe are pleased to inform you that NIRC of ICSI started "CS Connect –through skype" to provide guidance/counseling in respect of problems and difficulties being faced by our members on the assigned topic, date and time from Senior Member who will be available at NIRC office and address their queries through SKYPE.

Under the "CS Connect – through skype " initiative, the senior members of the profession will be requested to devote few hours at the premises of NIRC, New Delhi, to solve the queries of the members on contentious issues on various Acts & Rules. We have organized two programmes were organized one on 30.01.2018 and another on 22.02.2018. CS NPS Chawla, Past Chairman, NIRC and CS Shekhar Chopra were the Guest Speakers on the occasion.

Organizing Zonal Master ClassesNIRC started organizing Zonal Master Classes in all the zones of Delhi with a view to provide services to members of the respective zones. I am hopeful that the members will surely

take benefit of this endeavor of NIRC and attend the same in large numbers and make them successful. During the month of February, 2018 three Zonal Master Classes viz. East, West & North were organized NIRC-ICSI.

I take this opportunity to briefly highlight some of the major activities/developments that have taken place during the month:

Professional development programs for members:- � On 17th January, 2018, NIRC organized a program on

Disqualification of Directors & Condonation of Delay Scheme, 2018 & ICSI Vision 2022: Focus on New Curriculum . Chief Guest for the occasion was Shri Rakesh Kumar Tiwari, Registrar of Companies, Delhi & Haryana. Guest Speakers on the occasion were CS Satwinder Singh (Council Member, ICSI), Partner, Vaish Associates; CS Pavan Kumar Vijay (Past President, ICSI). CS Dhananjay Shukla, CS Nitesh Kumar Sinha and members were present.

� On 18th January, 2018, Inauguration of renovated extended Library Reading Room for students & L shape sitting arrangements especially made outside NIRC Office for visitors was done. Chief Guest: CS (Dr.) Shyam Agrawal, Immediate Past President-ICSI. CS Dhananjay Shukla, CS Rajeev Bhambri, CS Nitesh Kumar Sinha, CS Manish Gupta and members were also present on the occasion.

� On 26th January, 2018, NIRC celebrated the 69th Republic Day & Flag Hoisting. On the occasion Kavi Samellan and Skit by Members was also performed. Chief Guest on the occasion was Shri G.R. Raghavender, Joint Secretary, Ministry of Law & Justice. CS Pradeep Debnath, CS Ranjeet Pandey, CS Nitesh Kumar Sinha and participants were present on the occasion.

� On 30th January, 2018 NIRC organized CS Connect – through skype" programme on “CODS & Striking off of the name of the Company”. Facilitator/Expert: CS NPS Chawla (Past Chairman, NIRC-ICSI) & Associate Partner, Vaish Associates was present to address the queries of members.

� On 2nd February, 2018 A program on Union Budget- 2018 was organized by NIRC at SCOPE complex auditorium. CA(Dr.) Girish Ahuja, Eminent Tax Expert; Prof. Gourav Vallabh, Professor of Finance, XLRI, Jamshedpur; and Shri Vineet Bhatia, Advocate were Guest Speakers. CS Pradeep Debnath, CS Rajiv Bajaj, CS Ranjeet Pandey, CS Satwinder Singh, CS Vineet Chaudhary, CA Rajesh Sharma, Council Member-ICSI (Govt. Nominee), CS Nitesh Kumar Sinha, CS Dhananjay Shukla, CS Monika Kohli and participants were present.

� On 3rd February, 2018 Interactive Session on Companies Amendment Act, 2017 was organized. CS Ranjeet Pandey, Council Member-ICSI and CS Yogesh Gupta, Past Chairman-NIRC were guest speakers. CS Pradeep Debnath, CS Nitesh


From the Chairman

Kumar Sinha, CS Manish Gupta and members were present.

� On 10th February, 2018 North Zone Master class was held. Guest speakers on the occasion were Ms. Shikha Prabhakar & Mr. Rajneesh Sood of Rajneesh Sood & Co. CS Pradeep Debnath and members were present.

� On 17th February, 2018 East Zone Master class was held. Mr. Shekhar Chopra, Manager, PricewaterhouseCoopers was the guest speaker on the occasion. CS Pradeep Debnath, CS Nitesh Kumar Sinha and members were present.

� On 17th February, 2018 NIRC organized one day workshop on IBC at NIRC premises. CS Manish Khanna, Valuer & Investment Banker; CS NPS Chawla, Past Chairman, NIRC were the guest speakers on the occasion. During the workshop Interactive Panel Discussion on Practical Issues in IBC was organised CS Virender Ganda, Senior Advocate & Past President – ICSI was the Chairman of the Session and Mr. Ashish Makhija, Advocate; CS Ashok Juneja, Registered Insolvency Professional; CA Charanjot Singh Nanda, Past Council Member-ICAI; CS Manoj Kumar, Partner, Corporate Professionals and Mr. Pulkit Deora, Advocate were panellists. CS Pradeep Debnath, CS Vineet Chaudhary and Members were present on the occasion.

During the month, NIRC also organized the following programs for students:-

� On 18th January, 2018 Valedictory Function of 275th Management Skills Orientation Program (MSOP) was held. The Chief Guest for the occasion was Shri Jatin Garg, IRS; Assistant commissioner (Income Tax) and CS (Dr.) Shyam Agrawal, Immediate Past President-ICSI also addressed the participants. CS Dhananjay Shukla, CS Rajeev Bhambri, CS Nitesh Kumar Sinha, CS Manish Gupta and members were present on the occasion.

� On 30th January, 2018 Inauguration of 276th MSOP was held. Chief Guest: CS Rajinder Kumar, Chief of Legal & Company Secretary, Indus Towers Limited and Guest of Honour: CS Yogesh Gupta, Past Chairman, NIRC-ICSI. CS Pradeep Debnath, CS Nitesh Kumar Sinha, CS Manish Gupta and participants were preset on the occasion.

� On 05th February, 2018 Campus placement for trainees was organized .

� On 7th- 8th February, 2018 Professional Development Programme for students was organised

� On 8th -9th February,2018 2 days induction program for students was organised.

� 15th- 17th February,2018 3 days E-governance program was held for the students.

� 15th- 23rd February, 2018 65th Executive Development

Programme (EDP) was held for students.

� On 16th February, 2018 Valedictory Function of 276th Management Skills Orientation Program (MSOP)

The members and students got the opportunity to know about latest legal and regulatory changes and update their knowledge, clarify their doubts, get their concerns addressed, platform for interaction amongst themselves for stronger bonding and for their overall professional development through these programs. I take this opportunity to thank and express my deepest gratitude to all the Chief Guests, Guest Speakers and faculties who addressed the participants in these programs.

details of forthcoming programmes:NIRC is organizing the following programmes:

� On 28th February, 2018 NIRC is organizing Holi Milan at NIRC premises.

� On 8th March, 2018 NIRC is organizing programme on the occasion of International Women’s Day.

� On 18th March, NIRC is organizing programme at Om Shanti Retreat Centre at Manesar.

� On 24th March, 2018 NIRC is organizing One day Seminar.

Details of all these programmes will be uploaded on the child portal of NIRO i.e. www.icsi.edu/niro. We take this opportunity to request all of you to kindly join these programmes in large numbers to make them successful.

Friends, your support and involvement are the prerequisites in successful implementation of all these activities. We, at NIRC have continuously been soliciting your views and suggestions. We once again appeal to all of you to send your valuable suggestions which will be guiding factor for us while we plan for our future academic as well as professional activities. Please communicate with us at [email protected].

With Warm Regards,

CS Pradeep debnathChairman nIrC-ICSI

Cell: 9910562121Date :27th February, 2018 Place: New Delhi


Congratulations

CS Makarand LeLe, PreSIdenT, THe ICSICS Makarand Lele, a Fellow Member of the Institute has been elected as the President of the Institute of Company Secretaries of India for the year 2018-19 w. e. f. 19th January, 2018.

CS Makarand Lele is a Member of The Institute of Company Secretaries of India since 1992. He has done his Commerce graduation (B.Com) from Garware College of Commerce Pune and Law graduation (L.L.B) from ILS Law College Pune. Mr. Lele is a Practicing Company Secretary since 1993 and has professional experience of 25 years.

He is actively associated with The Institute of Company Secretaries of India (ICSI) since 1994. Mr. Lele was elected to the Central Councilof the Institute for the term of 2015-19 and becomes the Vice-President of the Institute for the year 2017-18. Earlier he was elected to the Western India Regional Council and was the Regional Council Chairman for the year 2011-12. Prior to this he has served on the Managing Committee of Pune Chapter and in the year 2003 during his Chairmanship, Pune Chapter was,first time in its history conferred with the exclusive ‘Best National Chapter’ Award by ICSI.

He was appointed as the first Chairman of ICSI Auditing Standards Board formed by The Institute in the year 2016. He is a member of Corporate Legislation Core Committee of Mahratta Chamber of Commerce, Industry & Agriculture (MCCIA) and was invitee on the Business Law Syllabus Review Committee of University of Pune.

Mr. Lele is a renowned trainer and speaker on several segments in corporate laws, management & economic affairs. He is a regular contributor to various professional magazines & publications.

CS aHaLada raO V, VICe PreSIdenT, THe ICSICS Ahalada Rao V is a Fellow Member of the Institute of Companies Secretaries of India. He was an Associate Member of Chartered Institute for Securities and Investment, U.K. Science graduate from Osmania University, Master of Law from Osmania University and Master in Financial Management from Pondicherry University. He further completed Certificate course on “Business Valuation and Corporate Restructuring” which is conducted by the Institute of Cost Accountants of India. He is currently pursing detailed Research Study on Valuation of Intangible Assets of Indian Companies.

CS Ahalada Rao V. has overall 20 years of corporate experience and has spread various expert opinions and advice on all the matters of Corporate Laws, served as Advocate during the year 1999- 2001. Representing before the Company Law Board and Consumer Forums. From 2001 till date, he has rich experience in Secretarial works. He is empanelled as Mediator and Conciliator with Ministry of Corporate Affairs for East, West, North, Northwest, South and Southeast Regions.He was the Secretary of All India Federation of Tax Practitioners south zone for the year 2010-2011.He is a Certified SEBI Financials Resource Person. He was also a Member of Secretarial Standard Board of Institute of Company Secretaries of India, New Delhi, 2014-2016.

CS Ahalada Rao V has been Chairman at Hyderabad Chapter of SIRC of ICSI for the year (2006). He is elected Council member for the term 2014-18. He is chairman of ICSI Research committee & ICSI Centre of Excellence. CS Ahalada Rao V has been Faculty to Executive Students of Company Secretary Course of Hyderabad Chapter for Economic Labour and Industrial Laws, from November 2002 onwards. He has been delivering lectures to reputed Organizations on Accounting Standards, Company Law and Industrial Laws. He has also delivered lectures on Securities Laws & Regulation of Financial Markets for Post Graduate Students. CS Ahalada Rao V has written numerous articles in various professional journals and newspaper. He is a regular faculty at Seminars and Workshops conducted by various Professional Bodies.

‘TeaM nIrC’ GreeT S and COnGraTULaTeS CS Makarand LeLe and CS aHaLada raO V On THeIr eLeCTIOn aS PreSIdenT and VICe-PreSIdenT Of ICSI reSPeCTIVeLy fOr THe ye ar 2018”


Office Bearers of NIRC-ICSI

CS raJ eeV BHaMBrI, VICe CHaIrMan

CS Rajeev Bhambri is Fellow member of Institute of Company Secretaries of India. He has also done LL.B. and MBA (Finance). Out of total experience of 30 years, he has worked for 23 years with reputed companies at various higher positions including Hero Cycles Limited, Oswal Spinning & Weaving Mills Ltd, Metro Tyres Limited and Supreme Tex Mart Limited. His last assignment in Supreme Tex Mart Ltd was as Director Finance.

CS PradeeP deBnaTH, CHaIrMan

Mr. Pradeep Kumar Debnath, Company Secretary in Practice, Partner at M/S CLV & ASSOCIATES and Proprietor of Pradeep Debnath & Co. has experience of over 13 years and has been engaged in rendering of Secretarial and Legal Services. It has a team of Qualified Associate Company Secretaries who work under the guidance and supervision of Mr. Pradeep kumar debnath and Mr. debasis dixit.

areaS Of PraCTICe/ SerVICeS:

Besides undertaking assignments under the Companies Act, 2013 like compounding, approvals/ sanctions of various Departments and Courts, Mr. Pradeep kumar debnath has undertaken compliance for and on behalf of the client companies of various listing agreement (s) entered with the Stock Exchange(s), various Guidelines issued by the Securities and Exchange Board of India (SEBI) viz-a-viz SEBI (Substantial Acquisition of Shares and Takeover) Regulations, 1997, SEBI (Prohibition of Insider) Trading Regulations, 1992, SEBI (Delisting of Securities) Guidelines, 2003, SEBI (Disclosure & Investor Protection) Guidelines, 2000, etc.

Mr. Pradeep kumar debnath has also provided their services at the time of IPO’s, Right Issues and carry out the service related with due-diligence before IPO, listing/de listing of their various clients.

Audits, Compliances & Certification:

He has undertaken the following assignments:

� Secretarial Audits and Secretarial Compliance Audit of various Companies.

� Secretarial Audits as required by NSDL/CDSL, Capital Reconciliation Audit as provided by SEBI, Audit under Clause 47(c) of the Listing Agreement/ Regulations.

� Due diligence Audit of RBI

� Certifying various forms and reports of Private and also Listed Companies.

OffICe BearerS Of nIrC-ICSI fOr year 2018

Since 2010, he is working as an independent Corporate Law and Financial Advisor. Besides he is working as Secretarial Auditors of many companies.

His core areas of expertise are Financial Management, Project & Working Capital Financing, Debt Restructuring and Corporate laws. He elected as Regional Council Member of NIRC of ICSI in 2015.

At present he is holding the position of Vice-Chairman of NIRC. He was elected twice as Chairman of Ludhiana Chapter for the years 2010 and 2014.

CS nITeSH kUMar SInHa, SeCreTaryCS Nitesh Kumar Sinha is commerce and law graduate from University of Delhi (DU), is a fellow member of The Institute of Company Secretaries of India. He is in Practice since more than 11 years and he is the Managing Partner of NKS & Company having office at Vaishali, Ghaziabad, NCR.He has been managing the area of corporate laws and securities laws. He has been regularly appearing before various regulators and quasi judicial authorities.Mr. Sinha has been serving the possession in different capacities for last many years and he was elected to the Northern Indian Regional Council (NIRC) of The Institute of Company Secretaries of India for the year 2015 to 2018. Presently, he is the Chairman of Professional Development & Programmes Coordination Committee (PDPC) and Chairman, Co-Scholastic Activities Committee, NIRC. Earlier in his tenure at Northern India Regional Council (NIRC); he was the Chairman of Professional Development & Programmes Coordination Committee (PDPC), Management Skill Orientation Programme

Committee (MSOP), Training & Educational Facilities Committee (TEFC) and Co-chairman of Student Assistance Committee (SAC). He was Editor of NIRC Newsletter for the year of 2016.Mr. Sinha was Joint Secretary & Secretary at students union at Law Faculty, University of Delhi. He is associated with Noida Management Association (NMA) and Institute of Directors (IOD). He is also Founder and Admin of CS Trainees and Jobs Networks, well known platform in Social Media for helping the trainees and young members of the profession.Mr. Sinha is having rich experience in Profession and also is associated with many social and cultural organisations. He was Convener and Co convener of North Delhi Study Group (NDSG) for the year 2010, 2011, 2012, 2013 and 2014. He is the regular speaker in various training programme of students and members at Northern Indian Regional Council (NIRC) and the Chapters of Northern Indian Regional Council (NIRC). He is also regular speaker on the forum of various social and cultural organisations. On personal front, Mr. Sinha is married to Ms. Anshu Raj, who is house maker and is blessed with daughter named Nityanshi Raj.

Under the Companies Act, 2013

He has been engaged in preparation of various agreements, legal, commercial and other documents, advising and executing various secretarial assignments for and on behalf of clients and obtaining the approvals of the regulatory authorities.

He has so far handled assignments relating to Compounding of Offences and corporate and financial restructuring and amalgamations, mergers acquisitions under Indian law and possess significant experience in negotiating, structuring and drafting of all kinds of other commercial contracts.

Other Secretarial & Legal Areas:

� Drafting & finalization of various Share Purchase & Shareholders’ Agreement (SPSHA), Joint Venture Agreements (JVA), Deed of Adherence and other related agreements & documents necessary for carrying on purposes of the SPSHA or JVA.

� Compounding of Offences

� Approval of various Regulatory Authorities

� Performing functions at Postal Ballot

� Acting for Financial Institutions and Loan Assistances

� Appearance before SAT, NCLT, RBI Tribunal, and various other authorities relating to corporate compliances, litigations and IBC related matters.

Apart from services listed above, the firm is also providing all other services & consultancy relating to Companies Act, 2013 and other corporate laws including FEMA, 1999, Trade Mark, Patent, Labour Laws.

Personal information: he has housewife Ms. Rajni Debnath, Mother Ms Nilima Debnath, Father Sh D R Debnath, Daughter Ms Stuti Debnath having 9 years, reading in class 4th and Son Master Shayon Debnath having 3 years old, reading in Pre School, both children are playing music and doing cultural activities at various platform!


Functional Committees of NIRC

fUnCTIOnaL COMMITTeeS Of nIrC-2018List of Functional Committees of NIRC-2018 and its Chairmen

Chairman/Chairperson of the Committee(s) Committee(s)CS Pradeep Debnath Students Assistance CommitteeCS Rajeev Bhambri � MSOP Committee

� Practising Company Secretaries CommitteeCS Nitesh Kumar Sinha � Professional Development and Programs

Coordination Committee � Co-Scholastic Activities Committee

CS Amit Gupta Information Technology CommitteeCS Avtaar Singh Career Awareness CommitteeCS Deepak Arora Young Members Empowerment Committee CS Dhananjay Shukla � Training & Educational Facilities Committee

� Oral Tuition & Library CommitteeCS Manish Aggarwal CS Benevolent Fund CommitteeCS Manish Gupta � Chapters Development Committee

� Zonal Master Class CommitteeCS Monika Kohli Public Relation CommitteeCS NPS Chawla Corporate Law Committee CS Saurabh Kalia Research & Publication Committee

aTTenTIOn MeMBerS /STUdenTSThe details of Members Programs like Seminar, Conferences, etc. and soft copies of NIRC-ICSI Newsletters & Students’ programs viz EDP, PDP, MSOP, Students Activities, such as viz Moot Court Competitions, Elocution Competition, Essay writing, Company Law Quiz and Student Conferences are regularly updated on the NIRC Portal at ICSI website.To get updated information, Members & Students are requested to visit our following website regularly.

www.icsi.edu/niro

InVITaTIOn fOr COnTrIBUTIOn Of arTICLeS & SUGGeSTIOnS fOr

IMPrOVeMenT Of COnTenTS Of nIrC neWSLeTTer

NIRC of ICSI invites Articles from Members for publication in the NIRC Newsletter. Members are also requested to forward their comments/suggestions for further improvement of contents of Newsletter. Members may send the soft copy of their article and profile to NIRC by email to [email protected] for consideration by the Editorial Board.

Career aWareneSS PrOGraMSNIRC has organised 15 Career Awareness Programs & career fairs during the month of January-February, 2018 in various schools & colleges located in Delhi and surrounding areas. The students were apprised about the mode of registration in the course, syllabus, structure of the course and also the avenues available after completion of the Company Secretaryship Course both in employment and in practice. Pamphlets of Career in Company Secretaryship Course were distributed to the students.


Investor relations (IR) is a strategic management responsibility that is capable of integrating finance, communication, marketing and securities law compliance to enable the most effective two-way communication between a company, the financial community, and other constituencies, which ultimately contributes to a company's securities achieving fair valuation. Today’s competitive corporate environment and the increased expectations of speed in communication make it critical for companies to develop strategic programs for communicating with investors. With the rise of activist investors, investor relations officers serve as guardians of one of a company’s most important assets— its reputation

Many larger publicly traded companies now have dedicated IR officers (IROs), who oversee most aspects of shareholder meetings, press conferences, private meetings with investors, (known as "one-on-one" briefings), investor relations sections of company websites, and company annual reports. The investor relations function also often includes the transmission of information relating to intangible values such as the company's policy on corporate governance or corporate social responsibility. Recently, the field has trended toward an increasingly popular movement for "interactive data", and the management of company filings through streaming-data solutions such as XBRL or other forms of electronic disclosure have become prevalent topics of discussion amongst leading IROs worldwide.

Gaining the attention of the market is a primary IR challenge for smaller companies. Their aim is to get noticed, to get the analyst coverage and secure the meetings. Peer benchmarking and awards are less relevant, more of a luxury; in other words, the smaller firms are too busy looking ahead to look sideways. Conversely, for larger companies, IR has a greater focus on managing existing relations, with the firm seeking to keep its established place in the minds of the investment community. In this context it is understandable for larger companies to show greater focus on both evaluating the sentiment of their existing investors and consideration of how the company ranks against its peers.

The requirement for an Investor Relations capability is determined by a number of factors:

� The size and market presence of the Company � The size and spread of the investor base � The level of news and activity that needs explanation � The importance the Board of Directors attaches to Corporate

Governance

Ir organizationA dedicated Investor Relations Officer (IRO) can make a highly significant difference, acting as a proxy for the time-constrained Chief Executives and Chief Financial Officers, facilitating and informing dialogue between the Board and the investment community.The best IROs are recognized for open communication, a strong understanding of the business, ability to access the CEO and CFO at the right times and a sharp understanding of the market including the competitive environment. IROs are often judged by the market on their ability to help guide the investment community on the expected performance of the business; often developing an in-house share price model to help

this process. Critical to the IRO’s role is the ability to work closely with all areas of the business including: Finance, Communications, Legal and the operations. A close working relationship with Finance will ensure a timely understanding of how the Company is trading and early warning if targets or budgets are not being met.

The investor relations function must be aware of current and upcoming issues that an organization or issuer may face, particularly those that relate to fiduciary duty and organizational impact. In particular, it must be able to assess the various patterns of stock-trading that a public company may experience, often as the result of a public disclosure (or any research reports issued by financial analysts). The investor relations department must also work closely with the Company Secretary on legal and regulatory matters that affect shareholders. Due to the potential impact of legal liability claims awarded by courts, and the consequential impact on the company's share price, IR often has a role in crisis management of, for example, corporate downsizing, changes in management or internal structure, product liability issues and industrial disasters.

Measuring investor relations performanceThere is no perfect formula for investor relations, no perfect equation that describes best practice in the complex inter-relationship between company and investors. What, then, determines good or bad IR, and how can IR performance be measured ?

Share price and IrMeasuring IR team’s effectiveness by the performance of the company’s shares makes sense intuitively. After all, if the fundamental objective of the practice of investor relations is to obtain recognition in the market for the value a company is creating, shouldn’t there be a clear correlation to a rise in share price? Actually, no. Too many variables influence a company’s stock price to use its performance as a basis for rating IR officer performance. To begin, there are the company’s actual operating and financial results, which are beyond the control of the average investor relations professional. Seasonality, cyclicality and broader sector and economic trends can all affect market value. Equities do trade on fundamental measures, which investor relations teams should be responsible for communicating well, but they just as often move on technical indicators and high-frequency trading driven by algorithms.

If share price is not the right performance measure, how do you hold investor relations professionals to account?. I think the best measures are tied to highly specified goals that are tailored to the company’s broader objectives.

For many companies, attracting new investors is one of the most important objectives of an IR department.Trading volume is an important measure for assessing the IR department’s performance. Generally, the more meetings and calls they hold with investors the more likely liquidity will improve. However, like other metrics, there are a variety of other factors that have an impact, such as trading conditions in the overall equity market. The IR department, though, should not be solely judged on the number of new investors it has managed to attract through meetings and telephone calls. Equally important is the quality

Measuring investor relations effectiveness

CS (dr.) S k Gupta, [email protected]

Article

*The views expressed are personal views of the author and it should not be taken as views of the NIRC-ICSI.


Article

of the investors it has attracted. Medium—and long— term holders are ideal, while high-turnover managers are not.

Quality of investor meetings Quality of investor meetings should also be monitored. When senior management’s time is used, investors should be engaged in a substantive conversation with them about strategy and competitive advantages, for example, not asking basic questions about the company’s business. Although the quality of meetings cannot be measured quantitatively, the types of questions an investor asks are the best gauge. After a meeting, an IRO can expect management to express how satisfied they were with it.

Ownership mix Some companies seek an optimal mix of shareholders. Accordingly, investor relations can be judged on its ability to attract and maintain certain percentages of foreign investors and/or DR holders as well as medium- and long-term holders. Concentration of ownership is also an important measure because swift selling by one or several shareholders with large positions can result in a rapid fall in the stock price. This is one reason why an IRO must continually cultivate new buyers, as they can step in and absorb any sudden supply of shares in the market. While an IRO cannot prevent an investor from acquiring a large stake in their company, he/she can set the stage for future demand when it is needed. The geographic distribution of shareholders can also be important; as a company becomes less dependent on a limited number of capital markets, its ability to raise capital in the future is enhanced and at potentially more favorable terms.

Investors feedback Obtaining investor opinion regularly is one of the best ways to gauge an IR department’s effectiveness. It also helps the IRO understand how investors and sellside analysts are valuing the business and uncover any misperceptions or information gaps that might exist. As part of a perception study (a comprehensive means of gathering feedback), the firm conducting the study should ask shareholders and analysts how satisfied they are with your company’s investor relations and how it could improve. Areas to discuss with investors are management and IRO availability and responsiveness, transparency and access to company information. If prior perception studies had indicated information gaps or misperceptions, your next perception study should seek to determine if investors are now sufficiently informed and/or if any misperceptions have been corrected. Such findings would indicate whether the IR department had taken the necessary corrective actions.

Qualitative vs QuantitativeAnalysis of the extent to which qualitative or quantitative metrics are used in assessing IR performance produces an evenly balanced result. Globally, the split is 48 percent qualitative and 52 percent quantitative.Such a split is appropriate for work that can be considered part art, part science. Any form of relationship requires a qualitative understanding, but its success can be related to a number of quantifiable metrics. The effectiveness of investor outreach can be judged by the quality of individual meetings, but also by the number that take place. Where there is a difference between the use of qualitative and quantitative metrics is in market-cap size. Mid-cap, large cap and mega-cap companies all have a similar split, with large caps using a majority of qualitative metrics. Among small-cap companies, however, the split is 40 percent qualitative, 60 percent quantitative.

Quantitative measures offer clear data points to gauge progress towards annual / Y-o-Y strategic plans: Number of target investors engaged through direct outreach (1-on-1’s, calls, etc…), Institutional ownership as a % of shares outstanding, Increasing international ownership as a % of institutional holdings, Increasing % of long-term

institutional holdings / Target investors, Frequency of direct interactions with top 50 shareholders, Reducing the financial reporting gap (# of days from quarter end to financial reporting date) ;

Qualitative measures reflect key areas of performance that should be examined from a perspective of knowledge gathering, analysis and orientation to strategic goals. Customized perception studies – What is resonating with investors – Is the strategy crystal clear and carrying the confidence of investors – How were direct management interactions received – Closed end, and “how would you rank…”, questions can drive quantitative data, Post road show feedback reporting Management assessment, Quality of investor meetings (Example: Management rank of meeting post exit), Quality of investor conference participation / invitations Quality of investor relations website & capabilities, Quality of the financial community presentation deck, Responsiveness to investor inquiries

Milestone drivenIf the IR department of a company does not have a strategic plan on how to build value for the organization, it does not matter how we measure its contribution – we will still lack an answer. IR Measurement should be linked to program goals and objectives / Milestone initiatives which are grounded in a strategic annual IR plan. Sample milestones could include, among others: Implement an annual financial community perception study,Conduct a proactive investor perception study targeting analysis to align & prioritize outreach, Implement a Mobile IR App Implement a crisis management preparedness plan, Review corporate governance ratings / score for identifying areas for improvement.

Global Ir measurement focus The table (see Global IR measurement focus, below) shows that general investor feedback and more formal perception studies are the largest area of focus for IR measurement. Although this may include evaluation through quantifiable metrics, it is still largely a qualitative approach. The second-largest area of focus is the qualitative and quantitative assessment of formal investor interaction, in the form of one-to-one investor meetings, non-deal roadshows or similar investor-related events.

Ir Performance yardstick no.of responsesPerception studies/investor feedback 141 Investor meetings/roadshows/events 127 Analyst coverage 105 Share price/volume/volatility 95 Shareholder composition 84 Peer benchmarking/awards/rankings 83 Reporting/disclosure 27Management assessment 19Other 19Source: IR Magazine global IRO survey 2016

ConclusionInvestor relations requires considerable resources, both in terms of time and money. As is the case with other uses of corporate resources, a well-managed company needs to measure its return on investment. There are various methods that can be employed, although not all measures are direct corollaries and the data needed to make certain assessments can be limited. Gauging the effectiveness of a company’s investor relations is never a precise science and thus challenging.


The Union Budget 2018 is a day dreaming budget. The proposed various schemes for the welfare of poor and needy is nothing new- in the past too such schemes were announced but how far they are converted into a realty is a big question mark. Time will only tell the truth. At this moment it is not a wise step to rely on it -because of poor administration - the benefit is mostly not reached to the expected/ announced levels to the persons it is aimed at, as there is no mechanism to control its implementation as accountability and responsibility is never assigned in stricter sense with penalty clauses etc for its failure on the part of persons behind it.

Any economy grows on investments and savings by citizens -especially the power of such schemes lies with tax payers and nothing is provided in this budget for such tax saving schemes.

The proposed Standard deduction of Rs.40000 is an eye wash as there is no benefit of tax saving since transport allowance and reimbursement of medial expenditure is withdrawn and the Cess is increased by 1 pc, thus whatever little tax is saved that shall be offset by inflationary trend, which this budget has failed to control inflation in toto. The levy /increase in custom duty on almost all necessary /daily life items would increase their cost.

The Parliamentarians have got maximum benefit in the Budget 2018 by safe guarding themselves against inflationary trend -which the government is unable to control from any angle/ measure. As it is provided in the Budget that there will be automatic revision of emoluments of Parliamentarians every five years indexed to inflation. This kind of benefit should be extending it to all citizens by linking income tax exemption limit; and raising all the other deductions and exemptions amounts mentioned in various sections of Income Tax Act and Rules etc.

Petrol cut of Rs. 2 in excise is taken over but Cess levied on it. It seems for government petrol is only and major source of revenue from taxes and government is in no mood to reduce or pass it to citizens.

The levy of ten per cent tax on Long Term Capital Gain on dividend income of more than Rs. One Lakh is not good for the share market.

It is suggested to abolish Cess -merge it with basic tax rates for simplification.

Tax slabs are not changed. It would be better is there had been no change at all from last year -that would have kept happier the middleclass and all salaried tax payers. However, the Budget must have provided for lower rates of taxes, as it results in more number of transactions in white and black money is reduced and economic activities increases and our Gross Domestic Production (GDP) and revenue too increases. The maximum rates for all kinds of taxes should not be more than say 10% only. Necessaries of life like food and health items like medicines should be totally tax free at all levels.

Most damaging proviso of the Budget is loss of claiming deductions under provisions of Chapter VIA under the heading "C, if the return is not filed within the due date, indirectly exemption limit with deductions available till now is reduced drastically in the cases of filing

a belated return. It will also encourage of not filing the returns by those who could not file within due date under section 139(1) and thus there shall be revenue loss to the government and forcing of non-compliance of income tax law by innocent citizens-making them unnecessarily tax law breakers.

In fact, earlier provision of Belated income tax returns for last two years must be reintroduced without any penalty to encourage filing of I. T. Returns if by mistake or other causes beyond an assessee control - who failed to file income tax return before due date. Also, government’s objective of filing maximum returns shall be achieved only if these amendments are carried out in this budget.

Friendly attitude is missing: The coercive attitude and administration of tax department has resulted in an increase of good number of new tax payers. Friendlier attitude towards tax payers especially senior citizens is most important since a good number of senior citizens having below taxable limits of income- as they are retired now -stopped filing their tax returns but continue to get queries / letters etc as to their tax matters through electronic mode, which they are just not aware of this technique. A simple letter in reply on paper must be accepted at the counters of tax department from not only senior citizens but all tax payers. In fact, all taxpayers must get an option to file / reply on paper mode or e- mode as they are comfortable / chose it. Those who have no internet / e -mail ID or mobiles must be allowed to file tax returns in paper mode only.

Senior citizens are taken care a little- as their exemptions in interest income of Rs 50,000 from Banks Fixed deposits/ term deposits; Rs 50,000 per annum exemption for medical insurance under Sec 80D; for critical illnesses will get deduction of Rs 1 lakh and Rs 15 lakhs (increased from Rs.7.5 Lakhs) per senior citizen limit for investment in interest-bearing LIC scheme are being provided for. They would get somewhat benefit from standard deduction as they are not affecting by withdrawal of transport allowance and reimbursement medical expenses, but inflation will set off their full such benefit.

The total exemption from tax deduction at sources (TDS) is still the need of the hour for all the senior citizens including businessmen/professionals as they keep it to remain busy for their peace and family peace!

Medium, Small and Micro Enterprises (MSMEs) - Corporate Tax of 25% extended to companies with turnover up to Rs 250 Crores is welcome.

Political Donations: Because the anonymity of donors is guaranteed in Electoral Bonds there is no transparency. In democracy people have a right to know the funds and its sources of political parties, which is missing here. Moreover, the cap on corporate donations is lifted by the government. Now interested business persons can make funding to any political party they like without any public scrutiny; it may lead to more corruption as in turn they can get direct or indirect benefits. It can increase in black money with corporate world which in turn can be utilized to shield it by paying huge donations legally to political parties for not initiating any legal recourse against them-an easy way of obliging an industrialist by a corrupt practice -made legal to get any amount of political funds and remain in power as money can buy

budget 2018 is an eye wash

CS Mahesh kapasi | E-Mail: [email protected]

Article

*The views expressed are personal views of the author and it should not be taken as views of the NIRC-ICSI.


election results that is a truth of today’s scenario.

For simplification abolish MAT in toto.

GST desired changes are nowhere seen in this budget.The One-page Saral form for tax payers having no business income to file income tax return up to an income of Rs. 5 Lakhs must be extended to all tax payers. ITR Form 4 -Sugam for

For Presumptive income from business and profession must allow maximum tax slab of 30 % only, the present slab of 50% is too high. Small businessmen / professional does not have that high margin -though they can declare lesser percentage of profit but that needs additional tax audit to be carried out which is costly and not convenient. Moreover, the purpose of Presumptive income is defeated with this

high 50% of margin / profit.

Pre-filled ITRs: It would be more convenient if all the information with income tax department about an assessee collected from various sources including AIR etc. -linked with PAN- is also made available in Form 26AS and automatically uploaded in the income tax “Pre-filled” forms at the time of e-filing, yes with the option to edit it, if assessee wish so-finds it wrong. And it would be much better if full of previous year I T return filed is being made available in - with those changes which are not relevant in the current assessment year is also made available in ‘Pre-filled’ form with of course editing facility to update and correct it. This facility would help the assessee to fill correct figures too as comparison with last year’s figures with editing would help in re-checking and confirmation for changes required this year. Such a facility would reduce burden of I T department to issue even scrutiny notices as an assessees would be more vigilant and fill correct information in their I T Returns.

TO GIVe OPPOrTUnITy and PLaTfOrM TO OUr

MeMBerSIn order to give opportunity and platform to our young members and also to enhance their communication and presentation skills, it has been decided that the various activities, like seminar, conferences, workshops, class room series, study sessions, PCS Meetings, addressing on CS Course in Career Awareness Programs in Schools/Colleges, etc., as may be organized by NIRC-ICSI for members and students, will be made available to the young members as a platform and opportunity to hone their communication and presentation skills. The Members will be provided with an opportunity to coordinate the complete sessions independently or jointly with other member.

Your NIRC is always on a forefront and always strive to build the capacity and confidence of our young brigade of Company Secretaries by empowering them to face the challenges of the Corporate world. This endeavour of NIRC will surely help them to excel in their skills in managing and conducting the AGM / EGM for their respective companies or for their client companies. Members are requested to grab this opportunity for their own benefit and to serve the profession. Interested members may send their details at [email protected]

Article

COMPany SeCreTarIeS BeneVOLenT fUndMEMBERS ENROLLED frOM NIRC AS LIFE MEMBERS OF THE COMPANY SECRETARIES BENEVOLENT

FUND DURING THE PERIOD 22/12/2018 TO 22/01/2018

COMPANY SECRETARIES BENEVOLENT FUND

MEMBERS ENROLLED REGIONWISE AS LIFE MEMBERS OF THE COMPANY SECRETARIES BENEVOLENT FUND

DURING THE PERIOD 28/12/2017 TO 22/01/2018

LM NO. NAME MEMB NUMBER CITYREGION

NIRC

12966 MS. ROOPALI MITTAL FCS - 6172 DELHI1

12969 MR. KALPESH KUMAR MEHTA ACS - 32497 UDAIPUR2

12970 MR. ABHISHEK CHAURASIA ACS - 29062 NEW DELHI3

12974 MS. NIDHI DHAWAN ACS - 32915 NEW DELHI4


S. no.

activities Sections/rules/ Clauses, etc.

acts/regulations etc.

Compliance due date

To whom to be submitted

GST Compliances1. Summary Return on self-

declaration basis for the month of January, 2018 in GSTR-3B after paying appropriate taxes

Goods and Services Tax Rules, 2017

GST 20th February

GST Authority

2. For taxpayers with Annual turnover of more than Rs. 1.5 Cr and for taxpayer with the Annual Turnover of upto Rs. 1.5 Cr. Who opt for monthly return filing instead of Quarterly return filing for January GSTR-1

Goods and Services Tax Rules, 2017

GST 10th March GST Authority

Income-tax related Compliances3. Contractor’s Bill / Advertising

/ Professional service Bill - TDS collected for the previous month Section 194J (February, 2018)

Section 194C

Section 194J

Income-tax Act, 1961

07th March Income Tax Authorities

4. Monthly payment of TCS (February, 2018)

Section 206 Income-tax Act, 1961


5. TDS from Salaries for the previous month (February, 2018)



6. Deposit TDS from salaries for the previous month in Challan No.281 (February, 2018)



7. Pay Advance Tax Section 211 Income-tax Act, 1961


rBI related Compliances8. Reporting of actual transactions

of ECB in form ECB-2 within 7 working days (February, 2018)

ECB Rules FEMA, 1999 08th March RBI through Authorized Dealer

economic, Industrial & Labour Law related Compliances9. Payment of ESI contribution for

the previous monthRegulation 31 Employees’ State

Insurance Act, 1948 and Employees State Insurance (Gen.) Regulations, 1950

21st February ESIC Authorities

COMPLIanCe CHeCkLIST frOM 20TH feBrUary TO 18TH MarCH, 2018

Compliance Checklist


Compliance Checklist

S. no.

activities Sections/rules/ Clauses, etc.

acts/regulations etc.

Compliance due date

To whom to be submitted

10. Monthly return of Provident Fund for the previous month (January) Provident funds

Paragraph 38 of Employees’ Provident Act, 1952

Employees Provident Funds and Misc. Scheme, 1952

25th February Provident Fund Authorities

11. Monthly return of Provident Fund for the previous month with respect to International Workers.

Paragraph 36 The Employees' Provident Funds Scheme, 1952

25th February Provident Fund Authorities

12. Monthly payment of Provident Fund (PF) (Non Corporate)

(a) Paragraph 38 of Employees Provident Funds Scheme, 1952

(b) Section 418 of the Companies Act, 1956

(a) Employees’ Provident Funds and Misc. Provisions Act, 1952 (b) Exempted Scheme

15th March Provident Fund Authorities Trustees of Provident Fund

13. File monthly return for employees leaving / joining during the month of February

(Form No.5)

Paragraph 20(2) read with Paragraph 36(1) & (2)

The Employees’ Pension Scheme, 1995 (For exempted establishments under Employees Provident Fund and Misc. Provisions Act, 1952)

15th March Provident Fund

Commissioner

14. i) File monthly Return of employees entitled for membership of Insurance Fund (Form No.2(IF))

ii) File monthly Return for members of Insurance Fund leaving service during the month of February (Form no. 3(IF))

iii) File monthly return of members joining service during the month of February (Form no.F4(PS))

Paragraph 10 The Employees Deposit Linked Insurance Scheme,

1976 (For exempted establishments under Employees Provident Fund and Misc. Provisions Act, 1952)

15th March Provident Fund

Commissioner

note: While every care has been taken in the preparation of this Compliance Check List for the Month of february, 2018, to ensure its accuracy at the time of publication, nIrC – ICSI assumes no responsibility for any errors which despite all precautions, may be found therein. Members are requested to check the latest position with the original sources before acting upon on the information published in this newsletter. neither this newsletter nor the information contained herein constitutes a contract or will form the basis of a contract. The material contained in this document does not constitute/ substitute professional advice that may be required before acting on any matter.

Compiled by: CS abhishek Gupta | [email protected] by : CS Punit arora ! [email protected]


News from NIRC

neWS frOM nIrCnIrC organised the following programs:date Program Guest speakers/experts: Present17.1.2018 Program on Disqualification of

Directors & Condonation of Delay Scheme, 2018 & ICSI Vision 2022: Focus on New Curriculum

Chief Guest: Shri Rakesh Kumar Tiwari, Registrar of Companies, Delhi & Haryana;Guest Speakers: CS Satwinder Singh (Council Member, ICSI), Partner, Vaish Associates; CS Pavan Kumar Vijay (Past President, ICSI)

CS Dhananjay Shukla, CS Nitesh Kumar Sinha and members

18.1.2018 Valedictory Function of 275th Management Skills Orientation Program (MSOP)

Chief Guest: Shri Jatin Garg, IRS; Assistant commissioner (Income Tax);CS (Dr.) Shyam Agrawal, President-ICSI

CS Dhananjay Shukla, CS Rajeev Bhambri, CS Nitesh Kumar Sinha, CS Manish Gupta, CS Alka Arora and members

18.1.2018 Inauguration of renovated extended Library Reading Room for students & L shape sitting arrangements especially made outside NIRC Office for visitors

Chief Guest: CS (Dr.) Shyam Agrawal, President-ICSI

CS Dhananjay Shukla, CS Rajeev Bhambri, CS Nitesh Kumar Sinha, CS Manish Gupta, CS Alka Arora and members

26.1.2017 Celebration of 69th Republic Day & Flag Hoisting; Kavi Samellan and Skit by Members

Chief Guest: Shri G.R. Raghavender, Joint Secretary, Ministry of Law & Justice

CS Pradeep Debnath, CS Ranjeet Pandey, CS Nitesh Kumar Sinha and participants

30.1.2018 Inauguration of 276th MSOP Chief Guest: CS Rajinder Kumar, Chief of Legal & Company Secretary, Indus Towers Limited; Guest of Honour: CS Yogesh Gupta, Past Chairman, NIRC-ICSI

CS Pradeep Debnath, CS Nitesh Kumar Sinha, CS Manish Gupta, CS Alka Arora and participants

30.1.2018 CS Connect – through skype" on “CODS & Striking off of the name of the Company”

Facilitator/Expert: CS NPS Chawla,(Past Chairman, NIRC-ICSI) &Associate Partner, Vaish Associates

CS Pradeep Debnath, CS Nitesh Kumar Sinha and CS Alka Arora

2.2.2018 Program on Union Budget-2018 Guest Speakers: CA(Dr.) Girish Ahuja, Eminent Tax Expert; Prof. Gourav Vallabh, Professor of Finance, XLRI, Jamshedpur; and Shri Vineet Bhatia, Advocate

CS Pradeep Debnath, CS Rajiv Bajaj, CS Ranjeet Pandey, CS Satwinder Singh, CS Vineet Chaudhary, CA Rajesh Sharma, Council Member-ICSI (Govt. Nominee), CS Nitesh Kumar Sinha, CS Dhananjay Shukla, CS Monika Kohli, CS Alka Arora and participants

3.2.2018 Interactive Session on Companies Amendment Act, 2017

Guest Speakers: CS Ranjeet Pandey, Council Member-ICSI and CS Yogesh Gupta, Past Chairman-NIRC

CS Pradeep Debnath, CS Nitesh Kumar Sinha, CS Manish Gupta and members

5.2.2018 Campus Placement for Trainees CS Pradeep Debnath, CS Alka Arora and participants

7-8.2.2018 Professional Development Programs (PDP) for students

Members of the Institute Students of the Institute

8-9.2.2018 2 days induction program for students

Members of the Institute Students of the Institute

10.2.2018 North Zone Master Class on Companies Amendment Act, 2017

Guest Speakers: Ms. Shikha Prabhakar & Mr. Rajneesh Sood of Rajneesh Sood & Co

CS Pradeep Debnath, CS Sidharth Sharma and members

15-17.2.2018 3 Days E-governance Program Members of the Institute Students of the Institute15-23.2.2018 65th Executive Development

Programme (EDP)Members of the Institute Students of the Institute

16.2.2018 Valedictory Function of 276th Management Skills Orientation Program (MSOP)

Chief Guest: CS Manoj Sekhri; Guest of Honour: CS Debasis Bhattacharya

CS Pradeep Debnath, CS Nitesh Kumar Sinha and participants

17.2.2018 Workshop on Practical Issues in IBC Guest Speakers: CS Manish Khanna, Valuer & Investment Banker; CS NPS Chawla, Past Chairman, NIRCInteractive Panel Discussion on Practical Issues in IBC - Chairman of Session: CS Virender Ganda, Senior Advocate &Past President – ICSI; Panellists: Mr. Ashish Makhija, Advocate; CS Ashok Juneja, Registered Insolvency Professional;CA Charanjot Singh Nanda, Past Council Member-ICAI; CS Manoj Kumar, Partner, Corporate Professionals and Mr. Pulkit Deora, Advocate

CS Pradeep Debnath, CS VineetChaudhary and participants

17.2.2018 East Zone Master Class on Companies Amendment Act, 2017

Guest Speaker: Mr. Shekhar Chopra, Manager,PricewaterhouseCoopers

CS Pradeep Debnath, CS Nitesh KumarSinha, CS Hemant Kumar Singh and members


CSBF

NIRC - ICSI Newsletter | October 2017 18

CSBF

7,50,000

CS PRADEEP DEBNATH

10,000/-.

3,00,000

10,000/-


Financial Assistance Scheme


Financial Assistance scheme

finAnCiAl ASSiStAnCe SCheMe to the StuDentS unDer eConoMiCAlly WeAKer SeCtion (eWS)

NIRC of ICSI is announcing financial assistance to the students under Economically Weaker Section (EWS) scheme for bonafide registered students of ICSI, who intent to register for Oral tuitions classes (OTC) conducted by NIRC of ICSI at NIRO, 4, Prasad Nagar Institutional Area, New Delhi 110 005.

for founDAtion ProgrAMMe eligibility CriteriA The candidate should –

� be a bonafide registered student of the Institute; � have passed all the papers of 12th Class and secured a minimum of 50 per

cent marks in the aggregate; � have family income of not more than Rs.1,00,000/-(One lakh) in a year

AND � have no other source from which assistance/scholarship is received

simultaneously for pursuing the Oral Tuition classes

for exeCutiVe ProgrAMMe eligibility CriteriA The candidate should —

� be a bonafide registered student of the Institute; � have passed all the papers of Foundation Programme at one sitting, in the

first attempt, without claiming exemption in any paper OR

� have passed Graduation with a minimum of 50 per cent marks in the aggregate;

� have Family income of not more than Rs.1,00,000/-(One lakh) in a year AND

� have no other source from which assistance/scholarship is received simultaneously for pursuing the Oral Tuition classes

for ProfeSSionAl ProgrAMMe eligibility CriteriA The candidate should —

� be a bonafide registered student of the Institute; � have passed all the papers included in both the modules of the Executive

Programme at one sitting, in the first attempt, without claiming exemption in any paper,

� have an income (if employed or is having an independent source of income) of not more than Rs.1,00,000/-(One lakh) in a year if living on his/her independent income

AND � have no other source from which assistance/scholarship is received

simultaneously for pursuing the Oral Tuition classes

nuMber of AWArDS of ASSiStAnCefor foundation Programme :- The Maximum number of Fee concession for the foundation programme is 25 per session or 50 in a year

for executive Programme :- The Maximum number of Fee concession for the foundation programme is 25 per session or 50 in a year

for Professional Programme :- The Maximum number of Fee concession for the foundation programme is 25 per session or 50 in a year Value of Assistance

fee Concession in ot Classes organized by niro75% fee ConCeSSion & 85% fee ConCeSSion

for *MeritoriouS StuDentS of eConoMiC WeAKer SeCtion*Meritorious students

For Foundation Programmeeligibility CriteriA Examination Minimum marks Senior Secondary (10+2) Examinations through Central/ State Boards of Education recognized by Government of India

Minimum of 75% marks (or equivalent CGPA Grade) in his /her first attempt

For Executive Programme eligibility CriteriA Examination Minimum marks Foundation Programme examination

:The candidate should have passed all the papers of Foundation Programme examination at one sitting, in the first attempt, without exemption in any paper and secured at least a minimum of 55 per cent marks in the aggregateOrhave passed Graduation with a minimum of 65 percent marks in the aggregate

For Professional Programmeeligibility CriteriA Examination Minimum marks Executive Programme examination

The candidate should have passed all the papers included under both modules/groups of included under both modules/groups of Executive Programme/Intermediate examination at one sitting, in the first attempt, without exemption in any paper, and secured at least a minimum of 55 per cent marks in the aggregate.

reQuireD DoCuMent � Attested copies of certificates and mark-sheets in support of his/her

qualifications. � Income certificate clearly indicating monthly as well as yearly income of the

candidate � and /or his/her parents/guardian/spouse � Income certificate issued by a Revenue Officer not below the rank of Tehsildar � BPL Ration card (Yellow Coloured)/AA Y Ration Card (Pink Coloured)/National

Food Security Card.

CAnCellAtion of grAnt of fee ConCeSSionThe concession provided to a candidate may be recovered, withdrawn or cancelled, at the discretion of the NIRC of ICSI, if subsequently it is found that the candidate :

� has suppressed any material information or has made any wrong statement, and/or has given a false declaration in any respect;

or � his/her conduct has not been found satisfactory in pursuance of regulation 27

of the ‘Company Secretaries Regulations, 1982’ as in force.Scheme will purely be given on the basis of students financial conditions. However Regional Council of NIRC-ICSI is the final authority to decide the concession.The decision of the Regional Council of NIRC-ICSI shall be final on all matters relating to the scheme, including the meaning and interpretation to be given with regard to any provision contained in the scheme.The Regional Council of NIRC-ICSI reserves the right to amend the scheme from time to time or repeal it without any prior notice.


Annual Sponsorship Scheme

NIRC - ICSI Newsletter | April 2016 9

Annual Sponsorship Scheme

Principal Sponsor - Rs. 5,00,000/- annually �� Logo display at fully day Program Backdrop (12 Programs) �� Logo at the backdrop of Study Circle Meetings, Meetings organized for PCS,

workshops organized by NIRC, Study Groups meetings organized by NIRC.�� Logo display at fully day Program Backdrop of all State Conference / Regional

Conference / Regional PCS Conference as may be organized by NIRC. (6 Programs)�� Display at fully day Program, Standies / Banners at all State Conference / Regional

Conference / Regional PCS Conference as may be organized by NIRC. (6 Programs) �� Stall at the venue of full day Program (6 Programs)�� Speaking slot (max. half an hour) to any speaker from the sponsoring organization

or any other speaker authorized by such organization subject to confirmation by Chairman NIRC-ICSI. (2 Programs)

�� Delegate fee exemption for 03 delegates in all the whole day seminar organized by NIRC.

�� Display of logo at E-mails which will be circular to all Members (around 14000 members) of the NIRC of ICSI and other professionals.

�� Distribution of pamphlet/handouts of the sponsoring organization to the delegates, if such pamphlets are provided by the sponsoring organization. (6 Programs)

�� Name/logo of sponsoring organization will be published in the announcement of the program in NIRC Newsletter.

�� One full page advertisement in NIRC Newsletter. (3 Colour & 2 Black & White)�� Special acknowledgement at the programs organized by NIRC.�� Recognizing the MD & CS of the organization at our Annual general meeting.

Platinum Sponsor - Rs. 3,00,000/- annually �� Logo display at Program Backdrop (8 Programs) �� Logo display at fully day Program Backdrop of all State Conference / Regional

Conference / Regional PCS Conference as may be organized by NIRC. (4 Programs)�� Display at fully day Program, Standies / Banners at all State Conference / Regional

Conference / Regional PCS Conference as may be organized by NIRC. (4 Programs) �� Stall at the venue (5 Programs)�� Delegate fee exemption for 02 delegates in all the whole day seminars organized

by NIRC�� Display of logo at E-mails which will be sent to all Members of the ICSI and other

professional�� Distribution of pamphlet/handouts of the sponsoring organization to the delegates,

if such pamphlets are provided by the sponsoring organization. (5 Programs)�� Name/logo of sponsoring organization will be published in the announcement of

the program in NIRC Newsletter.�� One full page advertisement in NIRC Newsletter. (2 Colour & 1 Black & White)�� Special acknowledgement at the programs organized by NIRC.�� Special acknowledgement for MD & CS at the Annual General Meeting of NIRC of

ICSI

ANNUAL SPONSORSHIP SCHEME-2016 FOR NIRC PROGRAMS

Gold Sponsor - Rs. 2,00,000/- annually �� Logo display at Program Backdrop (5 Programs)

�� Logo display at fully day Program Backdrop of all State Conference / Regional Conference / Regional PCS Conference as may be organized by NIRC. (2 Programs)

�� Display at fully day Program, Standies / Banners at all State Conference / Regional Conference / Regional PCS Conference as may be organized by NIRC. (2 Programs)

�� Stall at the venue (4 Programs)�� Delegate fee exemption for 01 delegates in all the whole day seminars organized

by NIRC.�� Distribution of pamphlet/handouts of the sponsoring organization to the delegates,

if such pamphlets are provided by the sponsoring organization. (4 Programs)�� One full page advertisement in NIRC Newsletter. (1 Colour & 1 Black & White)�� Special acknowledgement at the programs organized by NIRC.�� Special acknowledgement for MD & CS at the Annual General Meeting of NIRC of

ICSI

Silver Sponsor - Rs.1,00,000/- annually �� Logo display at Program Backdrop on alternate month (3 Programs)�� Stall at the venue (3 Programs)�� Distribution of pamphlet/handouts of the sponsoring organization to the delegates,

if such pamphlets are provided by the sponsoring organization. (3 Programs)�� One full page advertisement in NIRC Newsletter. (1 Black & White)�� Special acknowledgement at the programs organized by NIRC.

Web casting Sponsor of program - Rs. 2,00,000/- annually ( 6 Programs )�� Logo display on the screen in all the Chapters of NIRC-ICSI during the web casting

of the programs.�� Logo display at Program Backdrop (6 Programs)�� Stall at the venue (3 Programs)�� Distribution of pamphlet/handouts of the sponsoring organization to the delegates,

if such pamphlets are provided by the sponsoring organization. (3 Programs)�� One full page advertisement in NIRC Newsletter. (1 Colour & 1 Black & White)�� Special acknowledgement at the programs organized by NIRC.�� Special acknowledgement for MD & CS at the Annual General Meeting of NIRC of

ICSI

Sponsorship for Single Program - Rs. 50,000/- �� Logo display at Program Backdrop (1 Programs)�� Stall at the venue (1 Programs)�� Distribution of pamphlet/handouts of the sponsoring organization to the delegates,

if such pamphlets are provided by the sponsoring organization. (1 Programs)�� Special acknowledgement at the programs organized by NIRC.

As you are kindly aware that the NIRC conducts more than 75 Professional Development Programs/Study Groups/Workshops for Members and about 100 Training Programs for Students in a year. Majority of the programs for members are conducted in good hotels/auditoriums with attendance of around 400 members in Professional Development Programs & more than 100 in others. The PDP programs are also live webcasted which are viewed by about 4000 members all over Northern India through our Chapters. In most of the programs organized by NIRC and its Chapters, very nominal participation fee is charged from the members, therefore, in order to partly bear the cost involved in organizing the programs, NIRC has come out with an Annual Sponsorship Scheme-2018. The details and the benefits of the scheme are placed below. Members are requested to kindly consider the above scheme and partly sponsor the NIRC programs for the year 2018.The cheque/demand draft towards sponsorship amount may please be drawn in favour of NIRC-ICSI payable at New Delhi. Members’ this gesture will on the one hand will encourage the Regional Council in holding further Professional Development Programs and on the other hand will give mileage to your organization.NIRC-ICSI eagerly await for a favourable response from the members. For any clarification regarding the Annual Sponsorship Scheme, please feel free to revert to Chairman, NIRC at [email protected].

ANNUAL SPONSORSHIP SCHEME-2018FOR NIRC PROGRAMS

NIRC - ICSI Newsletter | February 2018 18NIRC - ICSI Newsletter | April 2016 14

Forthcoming Programs

FORTHCOMING PROGRAMS OF NIRC-ICSIDay & Date Program Topic Venue Timings Credit

HoursFees

Monday11-04-2016

Women Empowerment Series

The Sexual Harassment of Women at Workplace (Prevention, Prohibition & Redressal) Act, 2013

ICSI-NIRC Building, 4, Prasad Nagar Institutional Area, New Delhi

5:30 pm to 8.00 p.m.

2 Free

Friday15-04-2016

One day Program Corporate Governance - Business Ethics & Culture Changes

Hotel Lalit, Barakhamba Lane, New Delhi

11:00 am to 5.00 p.m.

4 Rs.1750; Free for Corporate Members of NIRC

Monday18-04-2016

Meeting of Practising Company Secretaries

Threats & Solutions - Cyber Laws


5:30 pm to 8.00 p.m.

2 Free

Friday22-04-2016

Study Session NCLT JANAK GUEST HOUSEC-2/6, Janakpuri, ND-110058

5:30 pm to 8.00 p.m.

2 Rs.200; including Corporate Members of NIRC

Saturday23-04-2016

UP State Conference CS - Spectrum of Opportunities

HOTEL‘ROYAL CLIFF’, Swaroop Nagar, Kanpur

9 am to 5 pm

6 Rs.1000; FREE for Corporate Members (Delhi & Chapters)

Monday, 25-04-2016

Empowerment Series Opportunities under GST


5:30 pm 2 Free

Saturday30-04-2016

Seminar Practical Aspects of Handling Board Meetings & General Meetings (covering SS-I & SS-2)


10 am to 5 pm

4 Rs.500; FREE for Members of YUVA Corporate Membership Scheme ofNIRC

Saturday07-05-2016

One day Workshop Labour Laws – Compliances & Procedures


10:00 am to 5.00 p.m.

4 Rs.400 upto 3.5.2016; Thereafter Rs.500 depending upon availability of seats including Corporate Members of NIRC (NO ON THE SPOT REGISTRATION

Fri. & Sat.20-21.5.2016

Regional Residential Conference of NIRC of ICSI

Jim Corbett National Park, Uttarakhand

Details will be sent through e-mail

For details visit: www.icsi.edu/niro

fOrTHCOMInG PrOGraMS Of nIrCdaTe Program Venue28.2.2018 Holi Milan & Kavi Samellan ICSI-NIRC Building, 4 Prasad Nagar Institutional

Area, New Delhi8.3.2018 Celebration of Women’s International Day New Delhi18.3.2018 Program at ORC Manesar24.3.2018 One day Seminar Hotel Eros, Nehru Place, New DelhiFor details, visit www.icsi.edu/niro

LIGHTer SIde Of THe PrOfeSSIOn'Sir, why you are dispensing with my services?""Because of your behaviour?""Sir,I have always been so sweet,polite social and good humoured towards all my co-staff either senior or junior.""This behaviour of yours was embarrassment for many of us in the company.'

****************************"Paramjeet Singh,what happened to the attendance rules you introduced in the company last month?""They have been withdrawn because I realised that they were not practical.""What went wrong with them?""At the end of the month it was noticed that maximum violations were that of mine."

—CS ParaMJeeT SInGH, [email protected]

Members may send their contribution for this column at e-mail [email protected] for publication in the NIRC Newsletter-Insight. Decision of the Editorial Board of Newsletter in this regard will be final

Lighter Side of the Profession


Images

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1 Program on Union Budget-2018 organised by Faridabad Chapter (11.2.2018): L to R CS Vanita Arora , CS Pradeep Debnath and CA (Dr.) Girish Ahuja.

2 North Zone Master Class on Companies Amendment Act, 2017 (3.2.2018): Ms. Shikha Prabhakar & Mr. Rajneesh Sood of Rajneesh Sood & Co addressing the audience.

3 Inauguration of 276th Management Skills Orientation Program (MSOP) – 30.1.2018: Group photograph of participants alongwith CS Rajinder Kumar, Chief of Legal & Company Secretary, Indus Towers Limited; Guest of Honour: CS Yogesh Gupta, Past, Chairman, NIRC-ICSI, CS Pradeep Debnath, CS Nitesh Kumar Sinha, CS Manish Gupta and CS Alka Arora.

4 Valedictory Function of 276th Management Skills Orientation Program (MSOP) – 16.2.2018: L to R CS Nitesh Kumar Sinha, CS Manoj Sekhri, CS Debasis Bhattacharya and CS Pradeep Debnath. Dr. Bhole Shankar Sikhwal and best presenters/best participants standing.


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1 CS Connect – through skype on “CODS & Striking off of the name of the Company (30.1.2018): CS NPS Chawla replying to queries of members and also seen with CS Pradeep Debnath and CS Nitesh Kumar Sinha.

2 East Zone Master Class on Companies Amendment Act, 2017 (17.2.2018): CS Shekhar Chopra of Pwc addressing. CS Pradeep Debnath, CS Nitesh Kumar Sinha, CS Hemant Kumar Singh and other members seen.

4 Program on Union Budget-2018 (2.2.2018): Council Members & Regional Council Members presenting Shaheed Ki Beti Certificate to CA (Dr.) Girish Ahuja.

6 Program on Disqualification Of Directors & Condonation of Delay Scheme, 2018 & ICSI Vision 2022: Focus on new Curriculum(17.1.2018): Sitting on the dais Chief Guest: Shri Rakesh Kumar Tiwari, Registrar of Companies, Delhi & Haryana; Guest Speakers: CS Pavan Kumar Vijay(Past President, ICSI), Managing Director, Corporate Professionals Capital Pvt. Ltd. & CS Satwinder Singh (Council Member, ICSI), Partner, Vaish Associates, CS Dhananjay Shukla and CS Nitesh Kumar Sinha.

7 Workshop on Practical Issues in IBC(17.2.2018): CS Pradeep Debnath, CS NPS Chawla and CS Manish Khanna addressing. Others from L to R CS Ashok Juneja, Registered Insolvency Professional, CS Virender Ganda, Senior Advocate & Past President – ICSI; CA Charanjot Singh Nanda, Past Council Member-ICAI; Mr. Ashish Makhija, Advocate; Mr. Pulkit Deora, Advocate and CS Manoj Kumar, Partner, Corporate Professionals.

5 Celebration of 69th Republic Day & Flag Hoisting; Kavi Samellan and Skit by Members (26.1.2018): Chief Guest: Shri G.R. Raghavender, Joint Secretary, Ministry of Law & Justice; CS Pradeep Debnath, CS Ranjeet Pandey, CS Nitesh Kumar Sinha and members seen after hoisting the flag.

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3 Program on Union Budget-2018 (2.2.2018): CA(Dr.) Girish Ahuja, Eminent Tax Expert; Prof. Gourav Vallabh, Professor of Finance, XLRI, Jamshedpur; and Shri Vineet Bhatia, Advocate addressing.

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Documents

Office bearers Of nOrthern india regiOnal cOuncil Of icsi ... · for nIrC-ICSI newsletter-Insight CS Shweta Dixit - 9891318222 CS Harish Kumar - 9871042232 CS Manoj Kumar - 9910688433