inside text matter pages - itamma.org file72nd 2014-15 Indian Textile Accessories & Machinery Manufacturers' Association Bhogilal Hargovindas Building, 4th floor, 18/20, K. Dubash

nd72

2014-15

Indian Textile Accessories & Machinery Manufacturers' Association

thBhogilal Hargovindas Building, 4 floor,18/20, K. Dubash Marg, (Kala Ghoda),

Mumbai - 400 001.Phone: 2284 4350 / 2284 4401; Fax : 022- 2287 4060

Email – [email protected]/ [email protected]/ [email protected] : www.itamma.org

nd72 Annual Report 2014-15

1. Managing Committee of the Association 2014-15 1

2. ITAMMA believes – INNOVATION to be the Base of “Make In India” Campaign 5

3. ITAMMA 's Activities 8

4. National Events 8

5. International Events 15

6. Obituary 19

7. Auditor’s Report & Statement of Accounts 20

8. Photo Gallery


MANAGING COMMITTEE OF THE ASSOCIATION 2014-15

Mr. Senthil Kumar …………………………………………. PresidentMr. Mayank Roy ……………………..…………………... First Vice - PresidentMr. Kishore Khaitan ………………………………………… Second Vice – President Mr. Kaizar Z Mahuwala …………………………………………. Hon. Treasurer

Mr. Ajay D. ShahMr. Dhijen R. Mehta Mr. M. Gangadharan Mr. P.T. Muralidharan

Mr. Chandresh H. Shah Mr. Dilip V. KakabaliaMr. Mahesh P. Shah Mr. R. Sundarraj

Mr. Deepak N. GajjarMr. Jugal Kishore Mr. Omprakash Mantry Mr. Vishal T. Masand

Mr. Diven G. Dembla ……………………….. Immediate Past President.

Ms. Chamundeshwari Chinai …….…..… Permanent Trustee

Mr. R. Anand ………………………………….. Nominee Trustee

Ms. Amoli P. ShahMr. J. M. Balaji

Mr. Jignesh M. Shroff Mr. N. Subramaniam

Mr. T. R. Rajendran

Other Members of the Committee


Ms.Chamundeshwari Chinai Mr. Narendra ShahMr. R. AnandMr. G. T. DemblaMr. S.B. Rao Mr. M.D. Vora

Mr. Jinesh ShahMr. Kirti RathodMr. Sanjiv Lathia Mr. Sudhir D. DaniMr. Prashant R. Gandhi Mr. Ketan Sanghvi

Mr. Suresh G. Vaidya Mr. Amit K. Shah * Mr. Nutan K. Shah Mr. Chetan R. Ghia Mr. Naresh MistryMr. Diven G. Dembla

* Demise

Mr. Nimish M. Sanghvi Mr. Manan S. Shah

Mr. Murlidhar N. Kabra Mrs. Seema Srivastava

Mr. Prakash Bhagwati Mr.S.Chakrabarty

Mr. S.B. Rao

During the year under report, 9 meetings of the Managing Committee were held. The details of the meetings are given below:

Meetings Date Place Total Attendance 1st Meeting 27.09.2014 Mumbai 16 2nd Meeting 28.11.2014 Mumbai (VC) & Audio 31 3rd Meeting 10.01.2015 Coimbatore 13 4th Meeting 20.02.2015 Ahmedabad 10 5th Meeting 04.03.2015 Mumbai (VC) 23 6th Meeting 14.05.2015 Coimbatore 8 7th Meeting 04.07.2015 Madurai 9 8th Meeting 14.08.2015 Mumbai 16 9th Meeting 05.09.2015 Mumbai

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Mr. Diven G. Dembla Mr. R. Anand

Mr. J.M. Balaji Mr. S. B. Rao

Mr. Prashant Gandhi Mr. Suresh Vaidya


Sub- Committees 2014 - 15

For effective functioning of the Association the following Sub – Committees were constituted.

Technology Upgradation & Cluster Development Sub-Committee

Award Sub-Committee

Membership Development Sub-Committee

Chairman: Mr. Prashant R. Gandhi

Chairman: Mr. Suresh Vaidya

Chairman: Mr. S.B. Rao

Alternate Chairman: Mr. Kirti Rathod

Alternate Chairman: Mr. G.T. Dembla

Alternate Chairman: Mr. Ajay D. Shah

Members: Mr. Dhaval Doshi Mr. Gangadharan Mr. Girish G. Doshi Mr. Jignesh Shroff Mr. Ketan Sanghvi Mr. Naresh Mistry Mr. P.T. Muralidharan Mr. Sundarraj Mr. S. B. Rao Mr. Vishal Masand Mr. Zubin Mistry

Members: Mr. N. Subramaniam Mr. Nutan K. Shah Mr. R. Anand Mr. Sanjiv Lathia

Members: Ms. Amoli P.Shah Mr. Ashok Veda Mr. Bharat Kothari Mr. Chetan R. Ghia Mr. Deepak Gajjar Mr. Dhijen R. Mehta Mr. Gangadharan Mr. Mahesh P. Shah Mr. Muralidharan Mr. M.M. Kalavadwala Mr. Om Mantry Mr. Rajiv Kataruka Mr. Rajmeet Dhammu Mr. Sundarraj

International Networking, Seminars & Public Relations Sub-Committee

Exhibition Sub-Committee

General Purposes Sub-Committee

Chairman: Mr. J.M. Balaji

Chairman: Mr. Diven G. Dembla

Chairman: Mr. R. Anand

Alternate Chairman: Mr. Jugal Kishore

Alternate Chairman: Mr. P.T. Muralidharan

Alternate Chairman: Mr. Suresh Vaidya

Members: Ms. Amoli P. Shah Mr. Chandresh Shah Mr. Dhijen Mehta Mr. Jignesh Shroff Mr. Ketan Sanghvi Mr. M. Gangadharan Mr. N. Subramaniam Mr. P.T. Muralidharan Mr. Rajendhran Mr. Sundarraj

Members: Mr. Amit K. Shah Mr. Deepak N. Gajjar Mr. Gangadharan Mr. Girish G. Doshi Mr. Jignesh Shroff Mr. N. Subramaniam Mr. P.T. Muralidharan Mr. Rajendran Mr. Sundarraj Mr. Sushil Sonika

Members: Ms. Chamundeshwari Bhogilal Chinai Mr. R. Anand Mr. Narendra L. Shah Mr. G.T. Dembla Mr. S.B. Rao Mr. M.D. Vora Mr. J.H. Shah Mr. Kirti Rathod Mr. Sanjiv Lathia Mr. Sudhir D. Dani Mr. Prashant R. Gandhi Mr. Ketan Sanghvi Mr. Nutan Shah Mr. Chetan Ghia Mr. Naresh Mistry Mr. Diven Dembla


Export Cell Centres Convenor Jt. Convenor

Ahmedabad Mr. Jignesh Shroff Mr. Chandresh Shah Coimbatore Mr. P.T. Muralidharan Mr. Gangadharan North India Mr. Kishore Khaitan Mr. Ashok Veda Mumbai Mr. Jugal Kishore Mr. Om Mantry

Special Task Force s Head Infrastructural & Fund Raising Mr. J. H. Shah I.T. Upgradation Mr. Ketan Sanghvi Administrative Matters Mr. Diven G. Dembla

Articles of Association Restructuring Task Force :Mr. Diven G. Dembla, Mr. Nutan K. Shah, Mr. N. Subramaniam, Mr. Ketan Sanghvi, Mr. S.G. Vaidya,

Mr. R. Anand and Office Bearers 2014-15.

Government Representation & Data Collection Task Force :Mr. R. Anand, Mr. N. Subramaniam, Mr. Ketan Sanghvi, Mr. S.G. Vaidya, Mr. Diven G. Dembla and

Office Bearers 2014-15.

MANAGING COMMITTEE OF THE ASSOCIATION FOR THE YEAR 2015 – 16

The following persons were elected uncontested as Office Bearers and Members of the Managing Committee.

Mr. Mayank Roy ………………………………………… President Mr. Kishore Khaitan ………………………………………… First Vice President Mr. Kaizar Mahuwala ………………………………………… Second Vice President Mr. Ashok Veda …………………………………..…….. Hon. Treasurer

Elected Members :1. Mr. Ajay D. Shah of Dilip An Company2. Ms. Amoli P. Shah of Prashant Gamatex Pvt. Ltd.3. Mr. Chandresh H. Shah of Krsna Engimech Pvt. Ltd.4. Mr. Deepak N. Gajjar of Patco Exports Pvt. Ltd.5. Mr. Dhijen R. Mehta of Ashton Green & Company6. Mr. Jugal Kishore of Super Tex Industries7. Mr. Mahesh P. Shah of Continental Engineering Industries Pvt. Ltd.8. Mr. Om Prakash Mantry of Century Inks Pvt. Ltd.

NOTE:As per Article 8(c) of the Articles of Association, since the number of valid nominations received for the member of the Committee are less than 12, the Annual General Meeting following, shall elect member/members of the Committee, in addition to the normal business to be transacted at that meeting under Article 7(a).

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ITAMMA believes – INNOVATION to be the Base of “Make In India” Campaign

ITAMMA's suggestions for UNION BUDGET 2015-16

Concern of Indian EconomyOne of the major concerns of the Indian economy is the dwindling manufacturing growth and consequently its share in the GDP. The manufacturing sector has slowed down sharply, growing at just 4.2% in the last 4 years. As a result, its share in GDP has declined to 14.9% in 2013-14 from a peak level of 16.2% in 2009-10 and the share of manufactured goods in exports has come down from 75% to just over 60%.

With the launch of 'Make in India' campaign and renewed focus on 'Ease of Doing Business', there are hopes and aspirations that the manufacturing sector will soon bounce back and would effect a transition from the vicious circle of low growth to the virtuous cycle of high growth and job creation.

Against the above backdrop, ITAMMA stated the following recommendations:

I. Helping the Indian Textile Engineering Industry directly for technological development in the way of substitution or replacement of existing products of obsolete technology and lengthy process through innovations & cutting edge technologies ; while taking care of aspects like energy conservation, user-friendly, eco-friendly and environmental friendly.

a) Through basic research and development:

i) Government has made a provision of financial assistance up to 80% in the projects like Common Facility Centre (CFC) where the activities like indigenization of imported spares and components, special processes, special testing and skill training can be organized.

We suggested---

?The Government should take initiative in making the availability of land in the areas like Industrial MIDCs, etc., as it is realized in most of the cases this is the hurdle in implementing the project.

?The information on the imported textile items in the trend of its value as well as quantity needs should be benchmarked by the involved Government authorities, with a view to reduce the Imports and further manufacturing these items in these centers.

?A loan at lower interest may be made available to the members of SPV forming the Common Facility Centre (CFC).

?The textile industry should be allowed to import against a Customs Bond (in lieu of customs duty), one trial machine for taking trials valid for 6 months. The trials have to be taken in the textile mills under Indian conditions only before making heavy capital goods investment.

?Now the policy is that one has to pay 100% of the value of the customs duty at the time of import which amount will be refunded on a slab basis depending on the number of days the machine is in India. This policy is unrealistic and not in the interest of either the Textile Industry or the Textile Engineering Industry.

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ii) Special funds should be made available for In-house innovations in existing machines, accessories, components from the view of aspects like energy conservation, user-friendly, eco-friendly and environmental friendly.

As such innovations are involving the textile engineering as well as textile technology aspects, a special cell/committee involving Experts from these fields needed to be formed for inspecting these projects & disbursement of funds.

b) Through applied research and development:

?At present a provision of Technology Upgradation Fund (TUF) has been made for the textile manufacturing industry or the textile user industry. However, in most of the occasions it is noted that upgraded – latest technology machines have been purchased and used for running the business.

The textile engineering units are mostly in the small scale sector and have to compete with the countries like China. Hence, suggested to institute a Rs.500 Crore Technology Upgradation Fund (TUF) for Textile Engineering Industry on similar lines as for textile industry. This will fund acquisition of new technology & machinery, innovation and R&D as well as Joint Ventures with leading textile machinery manufacturers from abroad.

An inspection team for the authenticity of the technology to be acquired or transferred as a joint venture or as collaboration; may consists of a member from the Government Body, Industry Association, Research Institute and a member of Expert Panel of highly qualified persons.

?Second-hand machinery should be removed from eligibility under the TUF Scheme for textile industry as it affects the local Textile Engineering Industry development adversely. Since used machinery is very cheap, there is no need for concessional financing to improve its feasibility.

II. Helping Indian Textile Engineering Industry for showcasing their 'Make in India' products

at i. National Level

?During exhibitions (MDA grant to be made available to Associations).

?Catalogue Shows – (provides an ideal platform to the suppliers (machine & spare part manufacturers, dealers & traders) & the end-users (textile manufacturers / consultants/academicians, etc.) to interact with each other and understand their requirements under one roof in short time. (MDA grant to be made available to Associations).

?Provision of space to Textile Associations in the Textile Parks for demonstrating the innovative products for the members of Textile Parks.

?Webinar / Video Conferencing exhibitions -- Provision of special funds to the Associations for organizing the same.

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?textile manufacturing units & vice versa.

ii. International Level -- ?To promote aggressive marketing for export, MDA for textile machinery and spares must be

raised to Rs.2.5 lakh instead of current Rs.1.5 lakh limit.

?Provision of funds to be made available to Associations for organizing delegation / exhibitor pavilions and reverse buyer-seller meet.

III. Creating an ambient atmosphere for helping Indian Textile Engineering Industry in manufacturing 'Make in India' product at competitive price.

?Textile Bank – In view of the high employment potential of the textile industry and the varied nature of production from cotton to apparel, a separate bank is to be created on the lines of NABARD. At present, the officers in the banks have little exposure to the textile industry and are unable to assess the projects resulting in enormous problems both to the industry and the banks whereas a specialized Textile Bank can not only speed up matters but make “ease of making business” in the Textile Industry.

?Duty Drawback of 6% should be automatically allowed on all textile machinery & spares exports, unless a higher level is fixed for any items. Since many textile machinery & spares are of a unique nature and do not have many local manufacturers, such exporters are deprived of drawback benefits and hence affects their competitiveness, especially against Chinese competition.

?User industry importers of capital goods under EPCG are allowed duty free import of spares but indigenous manufacturers supplying the same spares do not enjoy such duty exemption. This puts an adverse burden on local manufacturers when competing with international suppliers.

?Collecting 'C' forms from parties is a herculean task and penalties for non-submission are heavy on the supplier while the user enjoys the benefit. To make the CST regime GST compatible and avoid unfair burden on manufacture, it is proposed that requirement of 'C' forms be abolished and replaced with an document generated online to supplier by the buyer's VAT Commissioner ate when supplier fills up the online application providing the buyer's details and TIN number and his own invoice and dispatch details. This document would certify that the buyer is currently a registered dealer. Since that purpose of 'C' form is merely to certify that sale was made to a registered dealer in another State, this mechanism would serve this purpose effectively and simply.

Many textile products such as cotton, yarn, fabrics, etc. are exempted from excise duty and hence cannot avail CENVAT credit against input materials and capital goods. This puts excised products at a disadvantage against SSI competitors enjoying duty exemption. We suggest the Government should either reduce excise duty on textile machinery & spares to 4% or apply a nominal 2% excise duty on all currently exempted textile items to ensure the CENVAT chain is not broken. The CENVAT credit availed on inputs will ensure there is no additional tax liability on textile units and this will also facilitate easier implementation of GST.

Textile Clinics (Portable) -- Holding of camps of textile engineering industry in the Clusters of

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ITAMMA's Activities

During the year 2014-15, ITAMMA organized following events or participated and floated various

innovative schemes.

NATIONAL EVENTS

“Le-RuPlaTex-2014”

'Le-RuPlaTex-2014' exhibition was organized by MSME-Development Institute, Mumbai, Ministry of

MSME, Government of India, at Mumbai, during 14-16 November, 2014, with a view to have a registration of

Vendor Development Programme. Also a seminar on Bar Coding was organized on the last day of the

exhibition.

ITAMMA was allotted a complimentary stall while 2 of our members, M/s. Excel Industrial Gears Pvt. Ltd.,

Mumbai and M/s. Century Inks Pvt. Ltd., Mumbai, participated as exhibitors.

The visitors registered at ITAMMA stall were mainly from the allied textile industry and therefore many of

them were interacted and explained about the importance of the 'Textile Stores & Machinery Directory

2012'.

thOn 15 November, 2014 there was a Vendor Registration and Development Programme where the PSUs like

Mumbai Port Trust, Mazagaon Dock, HPCL, Western Railways, Konkan Railway explained about their

requirements which are being procured from MSMEs. It was also informed during the programme that the

Government has passed a notification making it mandatory for all these PSUs to procure minimum of 20%

of their requirements from MSMEs.

“Business Excellence through Lean Manufacturing -- ITAMMA's Cluster Development

Initiative”

stThe Tripartite Agreement was organized on 1 January, 2015 at Liaison Office, Ahmedabad. ITAMMA

initiated the formation of ITAMMA Lean Manufacturing Forum Group–II, by signing the Tripartite

Agreement along with National Productivity Council and AddValue Consulting Inc (AVCI).

Mr. D. Chandra Sekhar, Director, MSME, one of the speakers, briefed the members about the prevailing

MSME schemes which ITAMMA could avail for their benefits and laid stress on the combined facility

formation. Mr. Shirish Paliwal, Director, NPC, Gandhinagar, briefed about the progress of cluster formations

and also of the tremendous success of the APO meet held in December at Colombo, where he mentioned that

Waterman Industries, the client of AddValue Consulting Inc (AVCI) was the only Lean practicing

organization, who shared their Lean experiences and tremendous savings under the guidance of AddValue

Consulting Inc (AVCI).

The Tripartite Agreement was signed by Mr. Nimish Sanghvi (Forum II SPV Head) on behalf of ITAMMA, Mr.

Nilesh Arora – Founder Director, AddValue Consulting Inc (AVCI) and Mr. Shirish Paliwal, Director, NPC,

Gandhinagar on behalf of National Productivity Council (NPC).


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“Texfair 2015”

ITAMMA participated in Texfair 2015 which was organized by SIMA from 9-12 January, 2015 at Coimbatore

wherein ITAMMA was allotted a Complimentary Stall. Mr. Senthil Kumar, President, ITAMMA was invited for

giving felicitation speech at the inaugural function. During the Exhibitions, interactions with various

visitors and members were taken place at ITAMMA stall, where the activities like submission of ITAMMA

Logo, distribution of ITAMMA 'News & Notes' & CDs, selling of Textile Stores & Machinery Directory were

carried out.

An initiative for enrolling new members were also taken into consideration during this Exhibition. The

motive of Membership Drive was initiated.

Visit to Kumaraguru College (KCT)

A meeting with Mr. S. Senthil Kumar, President, ITAMMA, and Mr. Shankar Vanavarayar, Joint

Correspondent, Mr. Ravi Kandasamy, Head – Program Management Office (PMO), Prof. C. Vasantharaj,

Head, Centre of Excellence in Advanced Design, Professor & Head, Automobile Engineering, Mr.

Vishwanath, General Manager, Dr. R.S. Kumar, Principal, Dr. J. Srinivasan, Prof. & Head – Department of thFashion Technology was organized at Kumaraguru College on 12 January, 2015.

Discussions took place were in regard with the work plan and the strategy of execution of proposed

Common Facility Centre (CFC) at Coimbatore in the premises of Kumaraguru College of Technology. The

role of ITAMMA, its SPV members of Common Facility Centre (CFC) and the management authority of

Kumaraguru College of Technology was discussed in detail. The steps / phases at which the Common

Facility Centre will be running were also discussed and explained to the authorities of the Kumaraguru

College of Technology. It was decided to form a Core Group of 2 members from ITAMMA and 2 members

from Kumaraguru College of Technology to start the interaction and correspondence of documentation in

this regard.

“Importance of Energy Audit to the Textile Manufacturing & Engineering Industry”

A seminar on “Importance of Energy Audit to the Textile Manufacturing & Engineering Industry” was thorganized on 10 January, 2015 at Jenney – The Club Coimbatore.

Mr. M. Muthukumaran, Head, Engineering & Instrumentation, SITRA, Guest Speaker; during his

presentation mentioned that the energy is one of the major inputs for the economic development of any

country where the global need for energy is increasing on an average by 1.5% every year. He gave a brief

introduction of the Energy Management System which was introduced in 1980s due to the energy crisis

because of Gulf War. He mentioned that the energy management is the judicious and effective use of energy

to maximize profit (minimize cost) and enhance competitive positions. The objective of the energy

management is to achieve and maintain optimum energy procurement and its utilization with minimum

energy cost or waste without affecting the production and quality, and minimizing the environmental

effects. It was informed by Mr. Muthukumaran that widening gap between the supply and demand,

interruption and power quality problems, increasing cost has created the need of energy management. He

also informed that the crude oil cost which was 8$ in 1973 and is 52$ in 2015 where power cost in 1973 was

10 paise per unit and today it is Rs.7/- per unit. The details of Indian scenario was also informed where

India's share is 17% of the World's population which occupies 2% of World Land Area and generating 4.5%

of global electricity.


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“Global Textile Technology & Engineering Show 2015 (GTTES)”

ITAMMA participated in 'GTTES 2015' Exhibition which was organized by India ITME Society during 20-22 January, 2015 at Mumbai. It was organized to promote post spinning sectors, Live demo of machineries & accessories, showcase new technology & products, Support modernization, manufacturing & investments in Textile Industry, To create Gateway to regional markets of India, To provide access to market opportunities in India & neighboring countries, Indonesia, Bangladesh, Pakistan, Myanmar, Sri Lanka, Vietnam & Cambodia wherein ITAMMA was allotted a complimentary stall and the organizer also floated a scheme of 15% discount to ITAMMA members for participation.

Around 30 ITAMMA members participated in the show.

“E-Retailing & Farewell Function of Mr. Diven G. Dembla, Immediate Past President, ITAMMA ”

stA seminar on “E-Retailing” was organized at IT Park, Bombay Convention Centre, Mumbai, on 21 January, 2015 along with the Farewell Dinner celebration to Immediate Past President, Mr. Diven G. Dembla.

Mr. Bino George, Head Pre Sales, Infor Indian Sub Continent, Mumbai enlightened the audience with Concepts related to E – Retailing such as Operational elements, Challenges, E-Retail + Catalog Operations, E-Retail + Web Site Content and Advantages of E-Retailing, etc.

Finally to conclude that e-retailing isn't just about building a pretty website. An established management will bring in the requisite skills to evaluate business plan, check out revenue models, help identify potential alliances and integrate supply chain processes with e-commerce initiatives and tremendous cost control. E-retailing will just fail if cost control systems are not established. E-Retailing has tremendous future now because of convenience availability of the product, visibility. However quality issues are getting critical which are to be addressed in more systematic manner.

“In Pursuit Of Excellence – Unleashing the Potential in You & Your Organization”

A Seminar on “In Pursuit Of Excellence – Unleashing the Potential in You & Your Organization” in the fond memory of Past-President, ITAMMA, Late Shri Amit K. Shah was organized at Hotel Park Plaza,

thAhmedabad on 4 February, 2015.

As an International Speaker, Motivator and Trainer, the Director of The Centre For Excellence Mr. Nikhil Desai has been conducting Training Programs & Motivational Sessions for the past 24 years. More than a quarter million people have benefited from his presentations and programs in 51 cities of the world.

This has strengthened the member-entrepreneurs of ITAMMA in knowing their potential for preparing themselves in the project of “Make in India”.

“Latest Trends in Lubrication in Textile Machines & Energy Conservation in Textile Plant”

A seminar on “Latest Trends in Lubrication in Textile Machines & Energy Conservation in Textile thPlant” was organized at Hotel Regenta, Ahmedabad on 20 February, 2015.

Mr. N.K. Jha, Sr. Manager, Technical Services (Lubes), Bharat Petroleum Corporation Ltd delivered his presentations on latest lubricants and the formation of the same. He explained the categories of Oil Analysis like Contamination, Wear debris and Value Added Service. It is an important aspect to note that, today the Energy cost is increasing at an accelerating pace of about 11% to 12%, i.e. doubling every 6 years as against


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about 10% for wages cost and 7% to 8% for the other input costs. The cost of energy is the largest component of conversion cost in modern spinning mills accounting for about 35% of the total. At the same time, as the lubricants play an important role in the Conservation of the Energy, we feel that today's topic will an interesting one, enlightening us an important data on these aspects. He also explained the importance of lubricants and their various types of Lubricants available in the market. He informed, Textile lubricants grade is known for high efficiency, it adds to quality of production, runs for longer period between planned maintenance and no tolerance for unplanned down time leads to the customer delight.

“Union Budget 2015 - Proposals related to Direct & Indirect Taxes”

A seminar on “Union Budget 2015 -- Proposals related to Direct & Indirect Taxes” was organized at M.C. thGhia Hall on 4 March, 2015.

To understand the outcome of the Union Budget 2015-16 as well as to interact with the stalwarts in this area in regard with the various doubts and clarifications a seminar was organized where presentations were made by Mr. Shailesh Sheth, Advocate & Sr. Advisor Indirect Tax, BDO India on the Proposals related to Indirect Taxes ” ; and Mr. Jigar Saiya, Chartered Accountant & Partner, BDO India on the Proposals related to Direct Taxes”.

“Industry Interaction for Campus Recruitment” of Textile Under Graduate students at DKTE Institute of Textile & Engineering, Ichalkaranji (Maharashtra)

This event was organized for Textile Under Graduate/Post Graduate Students was organized at DKTE thInstitute of Textile & Engineering, Ichalkaranji (Maharashtra) on 29 April, 2015 inviting ITAMMA Member-

Companies on the selection board.

The CVs of about 23 students were scrutinized and sorted as per the interests shown by the students in their respective fields of work. The same were forwarded to the interested Member-Companies of ITAMMA and accordingly the requirements of the ITAMMA Member-Companies were noted and a strategy of recruitment process was planned.

Mr. Akiwate, Placement Officer, welcomed the ITAMMA participants viz Mr. Om Mantry, Century Inks Pvt. Ltd, Mumbai; Mr. Vinit Shah, Vinit Rubber Works, Mumbai; Mr. Subramaniam, Caretex Engineers, Coimbatore, Mr. Mayank Roy, Vice President. ITAMMA who later delivered the Inaugural Speech.

About 5 – 6 students were selected during this Recruitment Drive.

Mill Visit : The event was followed by a visit to Nav - Maharashtra Sahakari Soot Girani Ltd and DKTE Centre of Excellence in Non Woven plant. ITAMMA Members got an opportunity to know the infrastructure set up of the mill and explored the possibility of manufacturing new products of non – woven fabric as well as the technical knowhow and functioning of the Non Woven Plant and Machinery.

The Rotary Club of Ichalkaranji, invited ITAMMA for the presentation on "Latest Trends in Lubrication in Textile Machines" during the Conference jointly organized by The Rotary Club of Ichalkaranji, DKTE Institute & ITAMMA with a financial support of BPCL during TEXPOSURE 2015 on 30th April, 2015 at Ichalkaranji.

ITAMMA took this opportunity and Mr. Mayank Roy, First Vice President, ITAMMA; Mr. N.D. Mhatre, Director General (Tech), ITAMMA and Mr. N.K. Jha, Sr. Manager, Technical Services (Lubes), BPCL delivered the presentations during this Conference.


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“Government Schemes for 'Make in India' Campaign”thA seminar on “Government Schemes for 'Make in India' Campaign” was organized on 14 May, 2015 at Hotel

Le Meridian, Coimbatore.

It was arranged to update our members to know the various schemes of Government bodies like SIDCO, MSME and FIEO; available for the product developments and especially for the small entrepreneurs and further taking forward the Government Mission of “Make in India”.

Mr. Vijay Baskar, DGM, NSIC, Coimbatore; Mr. V. Saravanabava, Branch Manager, Tamil Nadu Small Industries Development Corporation Ltd. (SIDCO); Mr. Ninad Panhale, Product Manager – Textile, Sales, Electronica Finance Ltd, Pune, Maharashtra; Mrs. Santhi, Director, FIEO, Coimbatore; Mr. Palanivel, Deputy Director, MSME, Coimbatore, gave presentations on the schemes for Textile Engineering Industry.

The Seminar was preceeded by the ceremony of signing MoUs with Apparel and Leather Technology College (ALT), Bangalore, for jointly working together on various aspects for the benefit of the Textile Engineering Industry as well as the Garment Industry as whole; and with Kumaraguru College of Technology (KCT), Coimbatore, to set up a Common Facility Centre for Textile Engineering Industry in their campus. The MoUs were signed by Mr. S. Senthilkumar, President, on behalf of ITAMMA and by Mr. A. Mohan, Manager, CPC, on behalf of Apparel and Leather Technology College (ALT), Bangalore; and further by Mr. Shankar Vanavarayar, Joint Correspondent, on behalf of Kumaraguru College of Technology, Coimbatore.

th14 Product-cum-Catalogue Show at Madurai

th thITAMMA organized its 14 Product - Cum -Catalogue Show on 4 July, 2015 at the Hotel Fortune Pandian, Madurai. The show was inaugurated by Mr. TRS Karthikeyan, Managing Director, Aruppukottai Sri Jayavilas Mills Ltd.

The trade show received an overwhelming response with 45 exhibitors participating, and over 650 visitors attending the show.

? The show provided an ideal platform to the textile user industry of Madurai to interact with the suppliers (Manufacturers, Dealers and Traders) of textile machines and accessories. During the show the visitors of the Textile Industry of Madurai got an opportunity to get the information of the quality products of Machines & Accessories from the field of Spinning, Weaving & Wet Processing. Out of total 45 Exhibitors, about 60% exhibited products and catalogues dealing with Spinning Industry, followed by 25 % from Weaving Industry.The foot fall of the visitors was more than 650 where about 60% were from Spinning Industry, 20% from Weaving Industry, 10% from Wet Processing and 10% from allied Industry. Further, the detailed analysis states that 30-40% visitors were decision making, 50% were technicians and sales person and about 5% were from research associations & colleges like SITRA, Kumarguru, PSG, etc.

Key Take Away

? ITAMMA member- exhibitors expressed their satisfaction through the feedback survey recording about 85-90% putting their remarks as “excellent” for this show.

? The flow of visitors showed about 500 were stagnant for about 2-3 hours, thus conveying the message of their interest in knowing the products of our members and spending their valuable time in fruitful business interaction with our member- exhibitors.

? The co operation through financial assistance extended by few of our members like Basant Wire


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Industries Pvt .Ltd (Jaipur), Super Tex Industries (Mumbai), Simta Machinery Pvt. Ltd (Coimbatore), Caretex Engineers (Coimbatore) has helped us to present the show at the world class standard within the budgetary expenses.

Lean Management Initiative.

A speech was organized by Mr. Anshu Saluja, Chief Advisor, Boon Management Consultants Pvt. Ltd, thMumbai on 14 August, 2015.

After giving detail presentations on the scheme and its benefits said that Boon Management have done a tie up with a reputed company( MAMSPL) which is keen to promote its software/services at our clients. Under this tie up they have agreed for the following:

1. Under LMCS the client has to pay Rs 70,000 in stage 1. (Rs 35,000 at the time of signing the order and Rs 35,000 within 1 month / completion of DSR ) . MAMSPL shall offer its software/services to client and if client likes it then he can take the software in this cost . However if client is not keen to take software / services , then MAMSPL shall refund Rs 70,000 (Rs 35,000 after 9 months and balance Rs 35,000 after 18 months from the date of signing the RSA). This refund option is given to clients without any compulsion on the clients to accept the

2. If any association is giving more than 50 clients then , BMCPL shall provide common facility for calibration / workshop on capacity building on any selected topic/ any other activity for the benefit of association upto a maximum of Rs 10,000 per client order. This shall be given in 5 equal installments linked with 5 stage wise payments received from clients. These payments are given approximately after every 4 months from the date of start of cluster.

Export Cell Meetings.

1. Coimbatore Export cell meeting was organized on 8th November 2014 followed with Foreign delegates meeting.

Mr. Senthil Kumar, President, ITAMMA welcomed the members. He further discussed about currency trends, Polyster price trends and textile markets. He informed members about the Upcoming Exhibitions and scope of business during this Exhibitions through ITAMMA .

Following were the foreign guests present in the meeting:

Mr.Faruqul Islam Chowdhury, Asst.Technical Officer, Bangladesh; Mr.Mohammad Salim Reza, Instructor, Bangladesh; Mr.Md Aminul Islam, Instructor (DTI), Bangladesh; Mr.Mohammad Shahriar Raihan, Instructor, Bangladesh; Mr.Mohammad Selim Badsha, Instructor, Bangladesh; Mr.Padma Kishore Dey, Instructor, Bangladesh; Mr.Md.Sawagatul Alam, Instructor (DTI), Bangladesh; Mr.Zeine Nessre Selamo, Lead Textile Engineer, Ethiopia; Mr.Degu Bitew Yismaw, Senior Technican, Ethiopia; Mr.Mamaru Tesfaye Temesgen, Lead Chemical Testing Analyst, Ethiopia; Mr.Joseph Kivuva Mushoki, Industrial Training ofiicer, Kenya; Mr.Peter Mugo Muiuki, Deputy Mill Manager, Kenya etc.

Following Members explained abour their products to Foreign Delegates:

1. Mr. Balakumar Explained about SIMTA Products 2. Mr. Balaji explained about LRT Products. 3. Mr. Jayakumar explained about Mag Solvics Products


14

4. Mr. Dinesh Paul explained about Rishitex Products 5. Mr. Rajeev explained about Adwaith Lakshmi products. 6. Mrs. Rajalakshmi explained about Naren Products.

2. Mumbai thExport Cell Meeting was organized held on 20 April, 2015 at 5.00.p.m. in the 'N.J. Nair Conference

Room' of the Association. Dr Praveen Kumar, Assistant Director General of Foreign Trade, Indian Trade Service Office of Additional DGFT, Mumbai; briefed about new Foreign Trade Policy. While Mr. Suresh Goswami and Ms. Shruti, ITAMMA Product Head, on behalf of Orbit Business Tours, enlightened the members about the various competitive schemes in regard with logistics and accommodation, etc. prepared especially for ITAMMA members.

ISO 9000:2008 ACTIVITIES

?

? As a initiative of the MOU signed between SGS India & ITAMMA, Ms. Rupali Waghmare, Asst. secretary, ITAMMA was given a free training on “ISO/DIS 9001: 2015 Introduction Course – IRCA

thCPD Approval C 17746” on 14 Oct. 2014

ITAMMA initiates Membership Development Drive

Following members were enrolled for the year 2014-15

ISO 9000 :2008 Audit was conducted successfully on 11th March, 2015.


1. A Square Solutions, Ahmedabad

2. Aadi Corporation, Ichalkaranji

3. ABN Industries, Gandhinagar

4. Acqua Filtron Equipments, Dombivli (West)

5. Aero Based Control Systems Pvt. Ltd., Coimbatore

6. Airmaaster Tecnolozies India (P) Ltd., Coimbatore

7. Aloke Fibre Tech Pvt. Ltd., New Delhi

8. Applied Automation Systems Pvt. Ltd., Coimbatore

9. Arora Textile Traders, Ahmedabad

10. Bearing Manufacturing India, Mumbai

11. Bhagwati Traders, Mumbai

12. Bharat Pattern And Engineers, Ahmedabad

13. Bombino, Dist. Gandhinagar

14. Boon Management Consultants Pvt. Ltd, Thane

15. C. Gheewala & Co., Mumbai

16. Canspin Industries, District Surendranagar

17. Citytex Corporation, Coimbatore

18. Colorjet India Pvt. Ltd, Uttar Pradesh

19. Dhruv International, Ludhiana

20. DNA Expert Services, Chandigarh

21. Dornier Machinery India Pvt. Ltd., Mumbai

22. ECL Finance Ltd, Mumbai

23. Electronica Finance Limited, Pune

24. Elgi Electric And Industries Ltd., Coimbatore

25. Franstek Belts Pvt. Ltd., Goa

26. G.M. Enterprises, Hubli

27. Gajjar Diecast & Engineers, Ahmedabad

28. Harsh Enterprises, Ahmedabad

29. Ideal Sheet Metal Stampings & Pressings Pvt. Ltd., Ahmedabad

30. Indo Texnology Pvt. Ltd., Coimbatore

31. Industrial Electronics Corporation, Gwalior

32. J.V. Texpro (P) Ltd., Chandigarh

33. Jacobi Machinery, Coimbatore

34. Jupiter Ceramics, Delhi

35. Kailash Corporation, Mumbai

36. Katlax Enterprises Pvt. Ltd, Gandhinagar.

37. KCI Bearings (India) Pvt. Ltd., Ahmedabad

38. Key Textile Accessories Pvt. Ltd., District Surat

39. Kothari Textile Industries, Surendranagar

40. Krishna Antioxidants Pvt. Ltd., Mumbai

41. Krishna Engineering, Ahmedabad

42. Krislon System Sciences Pvt. Ltd., Mumbai

43. Leo Rubber Industries, Ahmedabad

44. Madhuli Marketing & Management, Ahmedabad

15


45. Manisha Overseas, Bhiwandi

46. Mathis India Pvt. Ltd., Thane (West)

47. MEC Growths Texmach Pvt. Ltd., Madurai

48. Millmark Associates, Coimbatore

49. Mohler Machine Works Pvt. Ltd., Coimbatore

50. Nidhi Industries, Ahmedabad.

51. Nikasu Tapes Belts, Coimbatore

52. Nitta Corporation of India Pvt. Ltd, Pune

53. Number One Associates, Coimbatore

54. Pinter Fa.Ni Asia Pvt. Ltd., Coimbatore

55. Poornima Enterprises, Coimbatore

56. Poornima Enterprises.

57. Praful Reed And Heald Frame Pvt. Ltd., Ahmedabad

58. Prapti Texco, Mumbai

59. Prashant Ferber Logistics Automation Pvt. Ltd, Ahmedabad.

60. Prashant Rostoni Machinery Pvt. Ltd, Ahmedabad.

61. Rajendra Textile Engineers, Coimbatore

62. Rajvi Industries, Ahmedabad

63. Rishabh Micro Precision Components Pvt. Ltd., Silvassa

64. Rishitex Engineering India Pvt. Ltd., Coimbatore

65. Roop Telsonic Ultrasonic Limited, Mumbai

66. Rushi Plast, Ahmedabad.

67. SB Dyesprings (India) Pvt. Ltd., Thane (West)

68. Semitronik Systems, Ahmedabad

69. Sepson Textile Machines, Surat

70. Shansen Enterprises, Coimbatore

71. Sheltronics Control Systems Pvt. Ltd, Coimbatore.

72. Shivam Engineering & Fabrication Works, Surat

73. Shobaprad Machinery LLP, Kanpur

74. Shreenath Reed Industries, Ahmedabad

75. Shreesons, Jaipur

76. Shrihari Engineering, Tirupur

77. Somet Machinery (India), Ahmedabad

78. Sonal Industries, Ahmedabad

79. SPI Equipments India Pvt. Ltd., Coimbatore

80. Sudarshan Gears, Rajkot

81. Supreme Industrial Works, Mumbai

82. Surya Associates, Secunderabad

83. Susiram Enterprises, Coimbatore

84. Susmatex Machinery, Ahmedabad

85. Swiss Overseas, Ahmedabad

86. Swiss Service Management India Pvt. Ltd., Coimbatore

87. Tex-Fab Engineers (India) Pvt. Ltd., Navi Mumbai

88. Textronics Design Systems (I) Pvt. Ltd., Navi Mumbai

89. The Best Textile Engineers, Coimbatore

90. Trim Engineering Services, Rajasthan

91. Unirols Card Clothing India Pvt. Ltd, Coimbatore.

92. United Textile Accessories, Ahmedabad.

93. Unitop Aquacare, Thane

94. UV Tech, Thane

95. Wadhwa Brothers, Delhi

96. Weavetex Technology & Services Pvt. Ltd., Thane (West)

97. Yespee Associates, Coimbatore

INTERNATIONAL EVENTS

ITAMMA's participation in “DTG 2015” for the fourth consecutive year

thThe 12 edition of the Dhaka International Textile & Garment Machinery Exhibition was held from February 4-7, 2015 at Bangabandhu International Conference Centre (BICC), Dhaka, Bangladesh. It received a very good response of 880 Exhibitors from 32 countries occupying 1060 booths. Indians were 67 in number and ITAMMA members were 17 in number who had participated as an exhibitor.

ITAMMA was offered a Complimentary Stall to showcase services of ITAMMA as well as the products of its members. The trend of visitors registered at ITAMMA Stall was 11 from Spinning, 4 from Wet Processing, 6 from Composite and 10 were from Garment & Apparel Industry. While the category of visitors were 35 of

16


Traders/Agents interested in purchasing and selling the products.

thA Networking Dinner was organized at Bukhara Restaurant, on 6 February, 2015 where about 44-45 ITAMMA members and the entrepreneurs from Bangladesh Textile Industry participated. During the dinner, the President of ITAMMA delivered a welcome speech which was followed by fruitful interactions among each other and was further followed by a speech from Mr.A. K. Mukherjee, Director Technical, Prime Group of Industries and Mr.M. A. Khan, Technical Adviser, Naheed Cotton Mills Ltd.; giving the insight of Bangladesh Textile Industry and the potential of doing business at Bangladesh.

A special 'Catalogue Display Scheme' was organized for its members who were not able to participate in the above Exhibition and there was an overwhelming response from the following members:

1. ABC Corporation, Ahmedabad.

2. Basant Wire Industries Pvt. Ltd., Jaipur, Rajasthan.

3. Bluemoon Machines Mfg. Co., Surat.

4. Excel Industrial Gears Pvt. Ltd., Mumbai.

5. Key Textile Accessories Pvt. Ltd., Surat.

6. Mahalaxmi Mill Store Co., Ahmedabad.

7. Maksteel Wire Healds Pvt. Ltd., Vadodara, Gujarat.

8. Patco Exports Pvt. Ltd., Mumbai.

9. Shree Ram Textiles, Ahmedabad.

10. Srinivasa Textile Equipment Company, Coimbatore.

11. Super Tex Industries, Mumbai.

12. Suprabhatam Textile Equipments, Coimbatore.

13. Techno craft Industries, Ahmedabad.

14. Yogesh Dyestuff Products Pvt. Ltd., Mumbai.

thA meeting with the Office-bearers of BTMA was organized for ITAMMA members on 5 February, 2015 at BTMA Office where 10 ITAMMA members attended.

'Global Textile Congress-2015'

The Global Textile Congress – 2015 (GTC) was organized by Textile Association of India (TAI) at Bangkok, Thailand, during 13-15 February, 2015.

The special Scheme of “Table Space at ITAMMA Pavilion during 'Global Textile Congress', Bangkok, Thailand” was organized.

Following ITAMMA members participated in the above scheme displaying their catalogues during the 3 days of the Conference and got the opportunity to interact with the delegates of the Conference coming from all over the world.

1. B Tex India, Coimbatore

2. Century Inks Pvt. Ltd., Mumbai

3. Excel Industrial Gears Pvt. Ltd., Mumbai

4. Patco Exports Pvt. Ltd., Mumbai

5. Shrihari Engineering, Tirupur

17


The Textile Association of India (TAI) and ITAMMA have undergone a MOU for working together for the benefit of Textile Industry. On the basis of the same, Textile Association of India (TAI) invited ITAMMA for presenting its views on 'Building Innovation Capacity & Role of Associations.'

On behalf of ITAMMA, Mr. S. Senthil Kumar, President mentioned that earlier times Japanese were considered to be the big innovator during post World War II, where it was seen that the entire world flooded with goods made in Japan, and Japan virtually concurred the global market. In due course of time this has shifted to South Korea and now it has shifted to China, Taiwan & Vietnam. These countries have put lot of money in building, research and development capacities which are giving them very good results now as Innovations is everyday's job. A good example of Innovation success is that of apple in America which has given the world IPhone, Computers, IPad, Google, Microsoft etc.

Mr. Diven Dembla, Immediate Past President, mentioned that various initiatives have been made at the Association level by developing innovative schemes like Catalogue Shows, Catalogue Display, Share-a-Table, Share-a-Stall which has shown a tremendous response of our members. He further informed that Cluster Development activities have been implemented in an innovative manner in order to create an interest of the members to participate in the programmes like 5S, Lean, Design Awareness, CFC, etc. which has helped them in upgrading their present setup as well as implementing the waste management.

Mr. N. D. Mhatre, Director General (Technical) informed about the innovative systems adopted while releasing the various circulars through mass-mailing system where he added that the detailed analysis are being made at our Association for the various circulars to find out the flow of attendance of this mail by our members. From this analysis we come to know the interest of our members in regard with the type of information where detailed analysis region-wise, cluster-wise as well as topic-wise of the released circulars were made and accordingly the cluster development programmes are executed.

'INDO inter TEX 2015'

thThe 13 edition of 'INDO inter TEX 2015', the Indonesia International Textile and Garment Machinery & Accessories Exhibition, organized jointly by PT. Peraga Nusantara Jaya Sakti, Indonesia. The exhibition received a good response from 452 exhibitors from 24 countries, including 17 Indian exhibitors. The Participation from China was the highest to an extent of 35.62% which was followed by 25% from Indonesia. However, Indian Exhibitors were only 3.76%. Even though the Exhibition showcased more of Garment and Accessories stalls, the visitors at the ITAMMA stall were in good numbers from the field of Spinning, Weaving & Traders/Manufacturers of Spare Parts. This gave a good opportunity to the ITAMMA member participants of Catalogue Display scheme to get exposure to the clients/agents for their business at Indonesia.

The trend of visitors registered at ITAMMA Stall were 20% from Spinning, 10.67% from Weaving, 5.33% from Wet Processing, and 22.67 % were from Garment Apparel Industry & others. While Traders/Agents interested in purchasing and selling spares and accessories were 33.33%. As its regular practice ITAMMA organized a 'Catalogue Display Scheme' for its members who were not able to participate in the above Exhibition, which recorded a overwhelming response from 21 member companies whose details are given below:

1. Applied Automation Systems Private Limited, Coimbatore.

2. Ashton International Pvt. Ltd , New Delhi

3. B.Tex India, Coimbatore

4. Bea Electronics, Gwalior

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5. Blue Moon Machines Mfg. Co. Surat

6. Chem Verse Consultants (I) Pvt. Ltd, Mumbai

7. Continental Engineering Industries Pvt. Ltd, Gandhinagar

8. Excel Industrial Gears Pvt. Ltd, Mumbai

9. Industrial Electronics Corporation, Gwalior

10. Kothari Techno Tex, Gandhinagar

11. Krsna Engineering Works, Ahmedabad

12. Maksteel Wire Healds Pvt. Ltd, Vadodara

13. Patco Exports Pvt. Ltd, Mumbai

14. Phoenix Textile Engineering Pvt. Ltd, Pune

15. Rajshree Industries, Kolkata

16. Shree Ram Textile, Ahmedabad

17. Shri Hari Engineering, Tirupur

18. Srinivasa Textile Equipment Company, Coimbatore

19. Sumanlal J. Shah Sons (P) Ltd, Coimbatore

20. Suprabhatam Textile Equipments, Coimbatore

21. Technocraft Industries, Ahmedabad

'Shanghaitex 2015'

thThe 17 International Exhibition on Textile Industry 'Shanghaitex 2015' was organized from 15-18 June, 2015 at Shanghai New International Expo Centre (SNIEC), China. by the Shanghai International Exhibition Co. Ltd., Shanghai Textile Technology Service & Exhibition Center and Adsale Exhibition Services Ltd., which received a response of over 1,000 Exhibitors from 23 countries.

ITAMMA was offered a complimentary Booth for the first time, where it was noticed that the visitors involved in the manufacturing and supply of spares and components for spinning, weaving and processing industry were recorded on higher side. It was also noticed that many of the visitors were interested in selling their products in India and were in search of Agents who can market their products in India.

A special 'Catalogue Display Scheme' was organized for its members, where following members participated:

1. B Tex India, Coimbatore.

2. Basant Wire Industries Pvt. Ltd., Jaipur.3. Bea Electronics, Gwalior.4. Century Inks Pvt. Ltd., Mumbai.5. Chem Verse Consultants (India) Pvt. Ltd., Mumbai.6. Continental Engineering Industries P. Ltd., Ahmedabad.7. Excel Industrial Gears Pvt. Ltd., Mumbai.8. Maksteel Wire Healds Pvt. Ltd., Vadodara.9. Patco Exports Pvt. Ltd., Mumbai.10. Phoenix Textile Engineering Pvt. Ltd., Pune.11. Shree Ram Textile, Ahmedabad.12. Srinivasa Textile Equipment Company, Coimbatore.13. Super Tex Industries, Mumbai.14. Suprabhatam Textile Equipments, Coimbatore.15. Vinit Rubber Works, Mumbai.

19


Every generation has men who leave their footprints on the sands of time, and act as beacons of light. Amit Shah was among such people. Mr. Amit K. Shah, popularly was known as Amitbhai in the textile fraternity all over the country. Amitbhai's share in grooming this Association needs a special mention. Amitbhai was instrumental in enrolling a large number of members from Ahmedabad, thanks to his long association with the industry in this city.

Mr. Amit Shah was Chemical Engineer from BITS Pilani which is one of the best Engineering Institution in India. Amitbhai was associated with Indian Textile Accessories & Machinery Manufacturers' Association (ITAMMA) for more than two

rddecades. He was elected as 53 President of the Association in the year 2008-09. He

was a continuous source of inspiration and a guiding force to the Association in its activities and continued progress.

In spite of his busy schedules he participated actively in most of the activities of ITAMMA, including Managing Committee meetings and other Events; and invariably gave his advice & opinion on various matters for the growth of the Association. ITAMMA has undergone an MOU with the International Textile Association “TEMSAD” during his tenure of Presidentship.

He was Vice-Chairman of India-ITME Society in the year 2008-09. He was also the active Member of many other Associations, including Gujarat Chamber of Commerce.

Shri Amitbhai was equally devoted to the welfare of poor & downtrodden people of the Society at Ahmedabad.

“MAY HIS SOUL REST IN PEACE “

Obituary Note

Mr. Suresh M. Mehta was a Bachelor of Engineering (Mechanical, Electrical); Textile-

Tech; Reutlingen, Germany; M. Mea (India), F.L. Mech. E. (India). Mr. Mehta was the

Chairman and Managing Director of Star Group of Companies and has promoted

various Companies in the field of specialized textile machinery and components

manufacturing in textile spinning, textile processing, patented textile bearing

components, textile electronics and cross – flow ventilation systems. He helped to set

up, the Textile Training Institute in Nairobi for the Government of Kenya in the early

1980's under the Dutch Government's Financing. In addition to having been the

Chairman of the TMMA, Mr. Mehta has served in various capacities on a number of

public organizations, some of them being, Chairman of the EEPC, President of the

Indian Textile Accessories & Machinery Manufacturers' Association formerly known as Association of

Merchants and Manufacturer's of Textile Stores and Machinery (AMMT&M), Founder – President of India-

ITME, Chairman Indian Standards Institute – Technical Development Committee, Patron Member

Associated Chambers of Commerce and Industry India (ASSOCHAM). Mr. Mehta was the recipient of

numerous awards related to exports and export promotion, research and development, and

standardization of quality control. He has received the Udyog – Ratan Award for Entrepreneurship and a

Memento from the President of India, Abdul Kalam for promoting and contributing to India's Engineering

Exports.

“MAY HIS SOUL REST IN PEACE “

Mr. Amit Shah

Mr. Suresh Mehta

20


INDEPENDENT AUDITOR'S REPORT

To the Members of Indian Textile Accessories and Machinery Manufacturers Association

Report on the Standalone Financial Statements

We have audited the accompanying standalone financial statements of Indian Textile Accessories and Machinery Manufacturers Association, which comprise the Balance Sheet as at March 31, 2015, the Income and Expenditure Account for the year then ended and a summary of significant accounting policies and other explanatory information.

Management's Responsibility for the Financial Statements

The Company's Board of Directors is responsible for the matters stated in Section 134(5) of the Companies Act, 2013 (“the Act”) with respect to the preparation of these financial statements that give a true and fair view of the financial position, financial performance and cash flows of the Company in accordance with the accounting principles generally accepted in India, including the Accounting Standards specified under Section 133 of the Act, read with Rule 7 of the Companies (Accounts) Rules, 2014. This responsibility also includes maintenance of adequate accounting records in accordance with the provisions of the Act for safeguarding of the assets of the Company 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 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 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 Company'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. 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

21


a true and fair view in conformity with the accounting principles generally accepted in India, of the state of affairs of the Company as at March 31, 2015; and its profit and its cash flow for the year ended on that date.

Report on Other Legal and Regulatory Requirements

1. The Company is exempted under para 1(2) (iii) of CARO 2015. As such the requirements of the Companies (Auditor's Report) Order, 2015 ('the Order') issued by the Central Government of India in terms of sub-section (11) of section 143 of the Act, are not applicable.

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

a) We have sought and obtained all the information and explanations which to the best of our knowledge and belief were necessary for the purpose of our audit;

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

c) The Balance Sheet and Statement of Profit and Loss 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.

e) On the basis of the written representations received from the directors as on March 31, 2015 and taken on record by the Board of Directors, none of the directors is disqualified as on March 31, 2015 from being appointed as a director in terms of Section 164 (2) of the Act.

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

i. The Company has disclosed the impact of pending litigations that affect its financial position in its financial statements;

ii. The Company has made provision, as required under the applicable law or accounting standards, for material foreseeable losses, if any, on long-term contracts including derivative contracts;

iii. There were no amounts which were required to be transferred to the Investor Education and Protection Fund by the Company.

For ASA and Associates LLPChartered AccountantsFirm Registration No: 009571N/N500006

Sd/-

Anil A. MehtaPartnerMembership No. F-30529

Place: Mumbai Date: September 5, 2015

CIN : U99999MH1969NPL014319

As at As at

March 31, 2015 March 31, 2014

(Rs.) (Rs.)

2 24,865,212

24,649,082

3 11,183,747

8,323,725

36,048,959

32,972,808

4 545,680

1,935,526

5 6,600,507

4,247,149

6 563,403

552,779

7,163,910

4,799,928

43,758,549

39,708,261

7

1,276,762

2,269,390

10,084

60,224

3,937,460

3,366,112

5,224,307

5,695,726

8 1,100,000

1,100,000

9 (129,016)

51,117

10 1,139,724

1,103,880

2,110,708

2,254,997

11 946,525

707,945

12 35,289,057

30,708,158

10 187,953

341,435

36,423,535

31,757,538

43,758,549

39,708,261

1

In terms of our report of even date For and on behalf of the Board of Directors of

For ASA & Associates LLPChartered Accountants

Firm Registration No. 009571N/N500006S.Senthil kumarPresident

Anil A. MehtaPartnerMembership No. 30529

Kaizar.Z.MahuwalalaHon.Treasurer

Place : Mumbai

Date : 5/09/2015

N.D.MhatreDirector General (Tech)

Non-current assets

Capital work-in-progress

Long-term loans and advances

Current assets

Non-current investments

Deferred tax assets (net)

Notes

Non-current liabilities

Other long term liabilities

Current liabilities


Fixed Assets

Tangible assets

Intangible assets

Other current liabilities

TOTAL

ASSETS

Short-term provisions

INDIAN TEXTILE ACCESSORIES & MACHINERY MANUFACTURERS' ASSOCIATION

Balance Sheet as at March 31, 2015

Particulars

EQUITY AND LIABILITIES Shareholders' Funds

Capital and other funds

Reserves and surplus

Summary of Significant accounting policies

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

Trade receivables

Cash and bank balance

Short-term loans and advances

TOTAL

22


23


For ASA & Associates LLPChartered Accountants

Firm Registration No. 009571N/N500006S.Senthil kumarPresident

Anil A. MehtaPartnerMembership No. 30529

Kaizar.Z.MahuwalalaHon.Treasurer

Place : Mumbai

Date : 5/09/2015

N.D.MhatreDirector General (Tech)



CIN : U99999MH1969NPL014319

Statement of Income and Expenditure Account for the year ended March 31, 2015

Particulars Year ended Year ended

March 31, 2015 March 31, 2014

(Rs.) (Rs.)

Income

Revenue from operations 13 7,302,880

8,159,954

Other income 14 6,288,269

6,633,761 Total (I) 13,591,149

14,793,716

Expenses

Employee benefits expense 15 2,595,065

2,746,984 Depreciation 7 1,142,207

315,882

Other expenses 16 5,332,892

6,202,248

Total (II) 9,070,163

9,265,114

Profit /(Loss) before tax (I-II) 4,520,985

5,528,602

Tax Expenses

- Current Tax 1,364,700

1,641,364

- Deferred Tax 180,133

(3,123)

1,544,833

1,638,241

2,976,152

3,890,362

Summary of Significant accounting policies 1

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


Notes

Profit/(Loss) for the year

24


Notes to financial statements for the year ended March 31, 2015

1. Summary of Significant accounting policies

Basis for Preparation

Use of Estimates

Revenue Recognition

Subscriptions

Entrance Fees

Patron Fees

Other income

Fixed Assets

The company has used the following useful lives to provide depreciation on its fixed assets.

Fixed assets are stated at cost, net of accumulated depreciation and accumulated impairment losses, if any. The cost comprises purchaseprice, borrowing costs if capitalization criteria are met and directly attributable cost of bringing the asset to its working condition for theintended use. Any trade discounts and rebates are deducted in arriving at the purchase price.

Entrance fees are accounted on the date a member is admitted. The admission fees are credited to the Capital Fund in the Balance Sheet.

Patron fees are accounted on the date a member is admitted. The Patron fees are credited to the Capital Fund in the Balance Sheet inaccordance with the Articles of Association.

a)Interest is accounted for on accrual basis.

b)Interest amount received on the investment of B.K. Mehta Endowment Fund, Export Promotion Fund and Diamond JubileeEndowment Fund are credited to the fund. Income on other investments is treated as revenue income.

c)Income from Exhibition is recognized on accrual basis in accordance with the terms of the agreement.

The financial statements of the company have been prepared in accordance with the generally accepted accounting principles in India(Indian GAAP). The company has prepared these financial statements to comply in all material respects with the accounting standardsnotified under section 133 of the Companies Act 2013, read together with paragraph 7 of the Companies (Accounts) Rules 2014.Accordingly, the previous figures have been reclassified to conform to this year's classification. The financial statements have beenprepared on an accrual basis and under the historical cost convention.


The accounting policies adopted in the preparation of financial statements are consistent with those of previous year, except for the changein accounting policy explained below.

Depreciation on fixed assets is calculated on a written - down value method on pro-rata basis applying the useful life specified in ScheduleII of the Companies Act 2013

The preparation of financial statements in conformity with Indian GAAP requires the management to make judgments, estimates andassumptions that affect the reported amounts of revenues, expenses, assets and liabilities and the disclosure of contingent liabilities, at theend of the reporting period. Although these estimates are based on the management's best knowledge of current events and actions,uncertainty about these assumptions and estimates could result in the outcomes requiring a material adjustment to the carrying amounts ofassets or liabilities in future periods.

a)Annual Subscriptions due and received from members are accounted in the Income & Expenditure Account.

b)Subscription received from New Member after 30th September of any year is treated as Half Yearly Subscription and half of the amount

received is refunded. Furthermore, subscription received after 31st

December is treated as Subscription received from 1st

April of theSubsequent year.

Nature of asset Useful lives estimated by the management (in years)

Furniture and fixtures 10

Office equipments 5

Office Building (RCC Structure) 60

Computers 3

Intangible Assets 3

25


26


2 - Capital & Other Funds

Paticulars

Capital Fund 129,750

129,750

Life Membership 7,000

7,000

Patron Membership Subscription 1,320,000

1,320,000

Building Capital Fund 345,666

345,666

Building Maintenance Fund 14,544,249

14,544,249

Donation to the Corpus of the Trust 1,381,875

1,381,875

Vice-Patron Membership Subscription 240,000

240,000

Entrance Fees

Balance as per last Balance Sheet 506,747

484,747

Add : Received during the year 100,000

606,747

22,000

506,747

Export Promotion Fund

Balance as per last Balance Sheet 1,074,108 1,098,950

32,000 32,000

Less : Expenses for the object of the Fund 22,472 1,083,636 56,842 1,074,108

1,870,619 1,814,619

56,000 1,926,619 56,000

1,870,619

2,729,069 2,669,202

50,602 59,867

2,729,069

Less : Expenses for the object of the Fund 2,779,671

-

2,729,069

Shri J. G. Roy Endowment Fund 500,000

500,000

Add : Remaining Donation -

500,000

-

500,000

24,865,212

24,649,082



As at March 31, 2014

Donation to the Corpus of the Proposed Diamond Jubilee Endowment Foundation

Add : Transfer from Income & Expenditure Account (Interest on Fund FD's)



Shri B.K. Mehta Endowment Fund for encouraging Research in Textile Engineering Designs


27


3 - Reserves and surplus

Particulars As at

March 31, 2015 As at

March 31, 2014

a. Capital Reserves

Opening Balance 531,158

531,158 (+) Current Year Transfer -

-

(-) Written Back in Current Year -

-

Closing Balance 531,158

531,158

b. Surplus

Opening balance 7,792,567

3,993,231

(+) Net Profit/(Net Loss) for the current year 2,976,152

3,890,362

(+) Transfers of Expenses for Fund to

Export Promotion Fund 22,472

56,842

B.K. Mehta Endowment Fund

(-) Transfers of Interest on FD to

Export Promotion Fund 32,000

32,000

B.K. Mehta Endowment Fund 50,602

59,867

Diamond Jubilee Endowment Fund 56,000

56,000

Closing Balance 10,652,589

7,792,567

TOTAL 11,183,747

8,323,725

4 - Non-current liabilities

Particulars As at


March 31, 2014

Subscription Received in Advance 363,680

334,526

Security Deposits received 182,000

1,601,000

Total 545,680

1,935,526

5 - Current liabilities`

Subscription and Entrance Fees Received in Advance 531,399

379,662

Income for events received in advance 95,000

165,000

Oustanding Expenses 438,528

832,148

Income received in advance for telecom tower 622,233

592,603

Advance from Lessee 3,806,467

1,670,374

Other Advances 264,985

73,087

Advance Received for LMF 325,000

-

Tax withholding payable 137,353

115,038

Service Tax Payable 379,542

419,237

Total 6,600,507

4,247,149

6 - Provisions

Gratuity 328,647 206,199Leave Encashment 108,150 187,540Contribution to Provident Fund 33,839 125,940Salary and Reimbursement 92,767 33,100

Total 563,403 552,779

Year endedMarch 31, 2015

Year endedMarch 31, 2014



Particulars As at

March 31, 2014

Particulars


28


7 -

Fix

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)

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896,

381

313,

742

326,

617

Fur

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0,58

8

-

2,

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588

1,

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450,

282

1,60

0,70

9

669,

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1,

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161

Off

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4,00

1

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3,

193,

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2,

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835

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2,90

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7,

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299

295,

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4,79

7,10

7

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269,

390

2,32

9,46

8

Inta

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Ass

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Web

site

201,

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-

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1,69

5

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1,47

1

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191,

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,084

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141,

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3,36

6,11

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3,93

7,46

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-

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29


8 - Non-current investments (Amount in Rs.)

Particulars As at


March 31, 2014

A. Trade Investments

(a) Investments in debentures or bonds 1,100,000

1,100,000

Total 1,100,000

1,100,000

9 - Deferred tax Asset (Net)

The major components of deferred tax liability / asset as recongised in the financial statement is as follows:

Particulars As at


March 31, 2014

Deferred tax liabilityExcess of net block of fixed assets as per Income Tax over books of accounts

(263,987)

(2,407)

Others

Gross deferred tax liability (263,987)

(2,407)

Deferred tax asset

Provision for Employee benefits

Expenses disallowed under Sec 43B 134,970

53,524

Carry forward business loss and unabsorbed depreciation

Others

Gross deferred tax asset 134,970 53,524 Net deferred tax (liability) / asset (129,016) 51,117

Deferred Tax (Charge) / Credit for the year (180,133) 3,123 10 -Loans and advances





Capital advances

Unsecured, considered good -

Total -

-

Security deposits

Unsecured, considered good 130,650

220,650

Total 130,650

220,650

Other loans and advances

Secured, considered good

Loans and Advances given to Employees -

Unsecured, considered good

Advance income-tax 625,032

213,733

Prepaid expenses -

156,038

282,798

Other Advances 4,880

67,695

-

Accrued Interest -

31,915

58,637

Service tax credit 379,162

601,802

-

Total 1,009,074

883,230

187,953

341,435

TOTAL 1,139,724

1,103,880

187,953

341,435

Particulars

Long Term



Short Term

30


11 - Trade receivables

Trade receivables outstanding for a period less than six months


627,014 Total 564,239

627,014

Trade receivables outstanding for a period exceeding six months


80,931

Total 382,286

80,931

Total 946,525

707,945

12 - Cash and Bank Balances

a. Balances with banks* 35,275,770

30,684,068

b. Cash on hand 13,287

12,066

c. Foreign Currencies in hand -

12,024

Total 35,289,057

30,708,158

* Includes

Particulars As at


March 31, 2014

Saving Account 4,210,381

3,284,795

Bank Deposits having maturity of more than 3 months 31,065,389

27,399,272

Total 35,275,770

30,684,068



The debts are excluding the dues from a lessee since April 2005, which has not been recognised as Income in view of ongoing litigation

Particulars As at

March 31, 2014

Particulars As at

March 31, 2014



31


13 - Revenue from Operations

Revenue from Operations

Sale of Services 512,232

1,065,440

Total 512,232

1,065,440

Other Operating Income

Royalty from Caterers 5,160,000

6,362,288

Compensation towards common expenses 491,169

574,779

Auditorium/Conference room Hire charges 1,139,479 157,448

Total 6,790,648 7,094,515

Revenue from Operations 7,302,880 8,159,954

Details of Services rendered

Particulars Year Ended

March 31, 2015 Year Ended

March 31, 2014

Services

Annual Subscription 1,243,503 988,238 Income from Directory 13,300 47,729 Exhibition Income 1,381,739 1,061,213 Less: Expenses 2,126,310 1,031,740 Net Exhibition Income 744,571- 29,473 Total 512,232 1,065,440

14 - Other Income

Interest Income

Interest on Bank FDs 2,626,370

2,450,919 Interest on Savings Bank Account 105,275

90,681

Interest on Government Bonds 88,000

88,000 Total 2,819,645

2,629,600

Rent 95,676

105,115

Rent from Telecom Tower 2,175,370

2,011,793 Contribution for Lean manufacturing -

1,879,996

Total 6,288,269

6,633,761



ParticularsYear Ended

March 31, 2014

Year Ended March 31, 2014

Particulars



32


15 - Employee benefit expenses

Salaries and incentives 2,126,209

2,365,916

Staff welfare expenses 98,029

37,718

Contributions to-

Provident Fund 144,401

115,140

Superannuation scheme 25,946

22,011

Gratuity Fund contributions 200,480

206,199

Total 2,595,065

2,746,984

Financial Assumptions on Valuation Date

Particulars Year ended

March 31, 2015 Year ended March

31, 2014

Discount Rate (p.a.) 8.00% 7.95%

Expected Rate of Return on Assets (p.a.) 0.00% 0.00%

Salary Escalation Rate (p.a.) 6.00% 6.00%

16 - Other Expenses

Electricity 1,016,862 1,264,114 Repairs to building 373,611 324,179 Insurance 36,424 34,291 Rates and Taxes 847,885 430,609 Legal and Professional 511,799

347,919

Communication Expenses 208,465

255,353

Conference and Meeting Expenses 1,016,453

816,562 Printing and Stationery 376,711

408,591

Upkeeping & Sanitation 279,266

248,176 Building Security Charges 86,040

142,822

Postage and Courier 132,742

128,950

Membership and Subscription Fees 20,108

97,054

Penalty for late payment of TDS -

20,243

Miscellaneous Expenses 426,526

179,383

Consultancy Charges for Lean Manufacturing -

1,504,000

Total 5,332,892

6,202,248

16.1 Payment to Auditors

Audit Fee 60,000

60000

Tax Audit Fee 25,000

20000

Other Matters 20,000

20000

Total 105,000

100,000



Year ended March 31, 2014


March 31, 2015

Year ended March 31, 2015


March 31, 2015 Year ended March

31, 2014

ParticularsYear ended March

31, 2014

33


17. Other notes to financial statements

1.The Association does not have any contingent liabilities.

18. Information pursuant to the Statement of Profit and Loss

(a). Expenditure in foreign currency (on accrual basis):

(Rs.) (Rs.)

Daily Allowance (including meeting expenses) 361,290 67,250

Airfare & other expenses 385,321 278,994

TOTAL 746,611 346,244


For ASA & Associates LLP

Chartered Accountants

Firm Registration No. 009571N/N500006 CIN : U99999MH1969NPL014319

S.Senthil kumar

President

Anil A. MehtaPartner

Membership No. 30529Kaizar.Z.Mahuwalala

Hon.Treasurer

Place : Mumbai

Date : 05/9/2015 N.D.Mhatre

Director General (Tech)

2.Export Promotion Fund Account is utilized for the purpose of Export Cell activities at Mumbai, Ahmedabad & Coimbatore.

3.In view of addition of provision to section 2(15) of the Income Tax Act, 1961 by Finance Act, 2008, the Association has made a provision for taxation of Rs.13,64,700/-, in accordance with the provisions of the Income Tax Act, 1961.

4.In the opinion of the Managing Committee, the Current Assets, Loans and Advances are approximately of the value stated if realised in the ordinary course of business.

5.The Association had terminated the Lease Agreement of the one of its lessee (Nanubhai & Co.) for default in payment of lease rent and

other charges and has filed a suit for repossession of the same on the grounds of bonafide requirement, in a court of law in April 2005. The

suit was decided in favour of the Association in FY 11-12. However the lessee has challenged this judgment in High Court, Pending trial

order, the lease rent and other charges have not been recognized from the year 2005-06.





6. In the absense of virtual certainity of recoverability of Rs. 6,75,000/-, such amount is not recognised as income in the current financial

year.


19. Previous year’s figures have been rearranged and regrouped, wherever necessary to make them comparable with that of current year.

Particulars

Documents

inside text matter pages - itamma.org file72nd 2014-15 Indian Textile Accessories & Machinery Manufacturers' Association Bhogilal Hargovindas Building, 4th floor, 18/20, K. Dubash