National Best Regional Council (2004, 2007, 2008, 2009 ... · 2 NIRC - ICSI Newsletter | May 2017 From the Chairman Regional Director CS Alka Arora Co-opted Page No. CS Ravinder,

Monthly • Volume XXXVI • Page 1-24 • No.05 • May, 2017

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

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1 Program on GST(29.4.2017): (Left) CS Dhananjay Shukla welcoming Shri Arjun Ram Meghwal, Hon’ble Union Minister of State for Finance and Corporate Affairs by presenting planter. (Centre) CS Dhananjay Shukla welcoming Mr. Gopal Krishna Agarwal, Council Member-ICSI (Government Nominee) by presenting planter. (Right) CS Ashok Tyagi welcoming CS(Dr.) Shyam Agrawal, President-ICSI by presenting bouquet.

2 Program on GST(29.4.2017): L to R CS Pradeep Debnath, CS Satwinder Singh, Mr. Gopal Krishna Agarwal, Council Member-ICSI (Government Nominee), CS Shyam Agrawal, President-ICSI, Shri Arjun Ram Meghwal, Hon’ble Union Minister of State for Finance and Corporate Affairs, CS Dhananjay Shukla, CS Rajiv Bajaj and CS Dinesh Chandra Arora.

4 Program on GST(29.4.2017): L to R CS Manish Gupta, Mr. Ravneet Singh Khurana, IRS, Deputy Commissioner (GST), Ministry of Finance; CS Upender Gupta, IRS, Commissioner (GST), Ministry of Finance, Mr. N. Mathivanan, Principal Partner, Lakshmi Kumaran and Sridharan and CS Nitesh Sinha;

3 Program on GST(29.4.2017): L to R CS Rajiv Bajaj, CS Pradeep Debnath, CS Satwinder Singh, Mr. Gopal Krishna Agarwal, Council Member-ICSI (Government Nominee), CS Shyam Agrawal, President-ICSI, Shri Arjun Ram Meghwal, Hon’ble Union Minister of State for Finance and Corporate Affairs, CS Dhananjay Shukla, CS Ranjeet Pandey and CS Dinesh Chandra Arora releasing GST Newsletter.

5 Program on GST(29.4.2017): L to R CS Nitesh Sinha, Ms. Seema Redhu Arora, Vaish Associates and CS Srinivas Kotni, Founder & Managing Partner, LEXport.

NIRC - ICSI Newsletter | May 2017 2

From the Chairman

CS Alka AroraRegional Director

Co-opted

Page No.

CS Ravinder, IAS 011-23063212

09810375788 vf/k"Bkue~ rFkk drkZ dj.kap iFkfXo/ke~Afofo/kk’o iFkDps"Vk nSoa pSok= iapee~AA

& Hkxon xhrkBehind every good happening there are five essentials:

1. Noble Purpose 2. Dedicated Person (Karta) 3. Infrastructure/ Sources 4. Relentless Efforts and

5. Support from destiny.

Dear Professional Colleagues,

Greetings from NIRC!!!

The above verse from Shrimad Bhagwat Geeta inspires us a lot to put in all our efforts/resources in pursuit of our professional excellence relentlessly as Karta to have the divine blessings of destiny for the noble cause of the development of our profession and we have been practicing the same at NIRC in our various endeavours for the capacity building of our members and students vigorously and for all stakeholders to meet their expectations.

It gives me immense pleasure to communicate with all of you, once again through this esteemed publication for the fourth time and to brief you about the events and achievements of NIRC for the month of April-May and its vision and mission for coming month.

I am pleased to inform that the Institute has decided to dedicate its energies this year towards supporting the new members by providing suitable platform to find appropriate employment opportunities. Accordingly, the Institute has decided to have mega Placement Drive in every region of ICSI in May, 2017 in a planned and coordinated manner. Every year, The Month of May shall be declared as Placement Month wherein the ICSI HQ, Regional Councils and chapters shall put their best efforts to ensure mass placement of our newly

Chairman CS Dhananjay Shukla 09873347280

Vice-Chairman CS Pradeep Debnath 09910562121

Secretary CS Rajeev Bhambri 09915710010

Treasurer CS Nitesh Kumar Sinha 09871500827

Members(in alphabetical order)

CS Amit Gupta 09415005108

CS Avtaar Singh 09999789891

CS Deepak Arora 09351788834

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

Key ConTenTs

© The Northern India Regional Council of the Institute of Company Secretaries of India. 2017.

Chief Editor: CS Dhananjay ShuklaEditor: CS Deepak Arora

Help Desk of [email protected]

From the Chairman 2-4

Articles 5-13

Functional Committees 14

Compliance Checklist 15-16

News from NIRC 17

CSBF 18

Lighter Side of the Profession 19

Corporate Membership Program 20-21

Forthcoming Program 22


From the Chairman

inducted members with maximum possible package.

Accordingly, Northern India Regional Council shall be conducting Mega Placement Drive -2017 on 26th& 27th May, 2017 at ICSI-NIRC Building.I humbly request each one of you to help us in our endeavours to get placed at least one fresher Company Secretary in your respective Companies, PCS Firms, Law Firms etc.,from this Mega Placement Drive-2017 organised by NIRC. When we act together in tandem, then only this noble task can be achieved.

As you may kindly be aware that the Institute has approved extension of 3 months’ time for obtaining the mandatory Programme Credit Hours (PCH) for the block of three years ended on March 31, 2017. Members who have not completed the mandatory PCH till date are advised to obtain their remaining PCH for the Block Year 2014-17, by June 30, 2017. Members may view their credit hours information at: http://www.icsi.edu/Quick_Links.aspxKeeping this in mind NIRC is organizing regular professional development programs for members and students on various topics of corporate relevance. The gist of the various programs organized during the month of April-May, 2017 are as under:

PROGRAMS FOR MEMBERS On 21st April, 2017: One day workshop on Secretarial Audit

CS IlamKamboj, Kamboj Law Chambers and CS Ranjeet Pandey, Council Member-ICSI were guest speakers.

On 27th April, 2017: Study Sessionon Voluntary Liquidation Process & Removal of Names of Companies.

We have once again the started the Study Session Meetings and the first Study Session meeting was organised on 27th April 2017 in which CS Ashok Tyagi, Company Secretary in Practice was guest speaker and the same was attended by more than 150 members on theonVoluntary Liquidation Process & Removal of Names of Companies. It would be our endeavour at NIRC to organise the regular Study Session Meetings every month in all four regions( East/West/North/South ) of Delhi like earlier NIRC used to organise and One Study session meeting in Central Delhi.

On 29thApril, 2017 Program on Goods & Services Tax

GST is all set to be roll out w.e.f 1st of July 2017. There is a huge task before us to gear up for taking up the opportunities lying under GST and also to mitigate the challenges, if any. Accordingly, towards the capacity building initiatives, NIRC organised a full day programme on GST on 29th April 2017 at New Delhi.

Shri Arjun Ram Meghwal, Hon’ble Union Minister of State for Finance and Corporate Affairs was the Chief Guest and inaugurated the program.Mr. Gopal Krishna Agarwal,Council Member-ICSI (Government Nominee) was guest of honour and the program was presided byCS (Dr.) Shyam Agrawal, President-ICSI. CS Upender Gupta, IRS,Commissioner (GST), Ministry of Finance was key-note Speaker & Chairman of the Session on GST.

Mr. Ravneet Singh Khurana, IRS, Deputy Commissioner (GST), Ministry

of Finance;Mr. N. Mathivanan, Principal Partner, Lakshmi Kumaran and Sridharan; Ms.SeemaRedhu Arora, Vaish Associates and CS SrinivasKotni, Founder & Managing Partner, LEXportwere the guest speakers on the occasion and same was attended by good number of participants. The NIRC also felicitated CS Upender Gupta, IRS,Commissioner (GST), Ministry of Finance , CS Ravinder ,IAS, PS to Minister of Culture and Tourism and CS Mahavir Singhvi, IFS, Joint Secretary (CounterTerrorism) , Ministry of External Affairs acknowledging their dedicated services /various supports to the profession.

1st May, 2017 to 18th May, 2017: “15 days Crash Course exclusively for Female Members”

The abovesaid crash course was inaugurated on 1st May 2017 at NIRC particularlyfor those female members who had taken break from career due to family commitments or any other reasonon different practical topics for three weeks at NIRC Auditorium, New Delhi. The response from the female members is very encouraging and large number of female participants are attending the same.

The various presentations given speakers are available on the website of NIRC for the knowledge updation of the members. The link for the same is www.icsi.edu/niro

PROGRAMS FOR STUDENTS On 11th April, 2017 Inaugural Function of 263rdMSOP Batch. CS Ashok Tyagi, Company Secretary in Practice was the Chief Guest for the function.

On 24th April, 2017 Campus Placement for the participants of 260th&261stMSOP Batches.

On 25th April, 2017 Valedictory Function of 262nd MSOP Batch. CS Mahaveer Singhvi, Joint Secretary (CT), Ministry of External Affairs of India CS Jayant Sood, Company Secretary, Indo Rama Synthetics (India) Limited for the function.

On 1st May, 2017 Valedictory Function of 263rd MSOP Batch. CS Yogesh Gupta, Past Chairman, NIRC was the Chief Guest for the function.

On 8th May, 2017 Inaugural Function of 264th MSOP Batch. CS Harish K Vaid(Past Vice-President-ICSI), Senior President (Corporate Affairs), Jaiprakash Associates Limited was the Chief Guest for the function.

During the month of April-May, 2017, NIRC-ICSI also organized various training programs for the students.

I take this opportunity to express my sincere thanks and gratitude to all guests, faculties, speakers and invitees for sparing their valuable time and sharing their words of wisdom, expertise and practical experience with the participants of the above mentioned programs.

Through this message, I take opportunity to thank my friends who have already renewed or have enrolled for the Corporate Membership Scheme and at the same time request my other fellow friends to apply for the same. The success of Corporate Membership Scheme encourages NIRC to hold large number of professional development


programmes. All these initiatives bring greater visibility to the profession and yield desired results in terms of recognition to the members of the Institute. The details of the corporate membership scheme are available at www.icsi.edu/niro

ANNUAL COMPLIANCE PLANNER-2017In case the Annual Compliance Planner-2017 has not been collected by the Corporate Members of NIRC so far, I request you to kindly arrange to collect the same from NIRC Office, Prasad Nagar Institutional Area, New Delhi on any working day.

COMPANY SECRETARY BENEVOLENT FUND (CSBF)Friends, benevolent fund is noble cause for the benefit of those members who may be in the dire need of help in case of any eventuality and the importance of the same may be felt by them and their family members only at that time. I appeal to all of you to join this movement without thinking of yourself but for those who may be really needy at the point of difficult time in their life.

I wish to place on record my heartfelt thanks & gratitude to the donors who have made contribution in response to our appeal for CS Visnoo Kumar Agrawal (ACS-20028) who is suffering from critical stage of Cancer. The names of the donors will be published in the next issue of NIRC-ICSI Newsletter as a token of our acknowledgement. I take this opportunity to once again request the members to kindly join hands with NIRC in this noble endeavour and donate generously for helping our fellow colleague. At NIRC, we have received few NEFT transfers for the same, I request the members who have donated for this noble cause vide NEFT as abovesaid , may kindly send their names alongwith membership numbers to [email protected] to enable us to acknowledge /print their names in the forthcoming issue of Newsletter.

FORTHCOMING PROGRAMSNIRC –ICSI is organising one day seminar on 20th May, 2017 on the theme Opportunities and Prospects for CS under IBC at Hotel Radisson Blu, Kaushambi. Details of the seminar has been published elsewhere

in the Newsletter.

In the last week of May, it is proposed to start the Master Class/Knowledge Series on GST towards our preparedness for meeting out the expectations of various stakeholders for our Role under the GST.

I cordially invite all of you to attend and participate in the above program and other programs in large number and make them a grand success.

We have also done the committee meetings recently of our various committees formed by NIRC in which new initiatives have been taken for the benefit of members and students. The improvement of the infrastructure of the Chapters & NIRC building is another priority set by us this year & we are making substantial progress in this direction.

Friends, your wholehearted support, cooperation and involvement in various activities of the NIRC are very important for realizing the dreams of our past leaders. The point I really wish to emphasize is that we all have to come forward and collectively join hands to contribute to the activities of NIRC as well as to the Institute as a whole. You can reach me any time at [email protected]. Look forward to hear innovative suggestions & ideas from all of you for the overall development of the NIRC and for betterment of our profession.

With best regards,

Yours sincerely,

CS Dhananjay Shukla Chairman NIRC-ICSI

Cell: 9873347280Date :11th May, 2017Place: New Delhi

From the Chairman

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, the Executive Committee of NIRC-ICSI has decided that the various activities, like seminar, conferences, workshops, class room series, study sessions, PCS Meetings 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 forward to grab this opportunity for their own benefit and to serve the profession. Interested members may send their details at [email protected].


In an era in which news spreads as it happens through the Internet and social media networks, investors, society, and governments are increasingly demanding that organizations be accountable to stakeholders, not merely shareholders, and be transparent about their activities. The change in investor landscape from a typical investor whose only focus was financial return to investors with a broad focus on sustainable responsible performance, has not only demanded that organizations re-think their use of resources but also how the information should be reported to those concerned. These ultimate investors are aware that action falling short of taking care of society and the environment can cost them via taxes to repair damage caused by organizations that reap short-term benefits.

On 7 February 2017, SEBI issued a circular in exercise of the powers conferred under Section 11 read with Section 11A of the Securities and Exchange Board of India Act, 1992 where under the listed entities are advised to adhere to the following:

a. Integrated Reporting may be adopted on a voluntary basis from the financial year 2017-18 by top 500 companies which are required to prepare BRR.

b. The information related to Integrated Reporting may be provided in the annual report separately or by incorporating in Management Discussion & Analysis or by preparing a separate report (annual report prepared as per IR framework).

c. I n case the company has already provided the relevant information in any other report prepared in accordance with national/international requirement / framework, it may provide appropriate reference to the same in its Integrated Report so as to avoid duplication of information.

d. As a green initiative, the companies may host the Integrated Report on their website and provide appropriate reference to the same in their Annual Report.

While some Indian companies have already been following IR on a voluntary basis, SEBI’s recent circular is likely to encourage other listed companies to include non-financial disclosures in their annual report, hereby adopting international best practices.

This paper proposes an integrated reporting framework including the suggested elements to be addressed which may be used by the organizations to develop Integrated Report.

Suggested elements to be addressed in the integrated reportThe elements listed below are those that are seen as being appropriate to consider for inclusion in the suggested elements to be addressed in

the integrated report. The elements listed below are those that are seen as being appropriate to consider for inclusion in the integrated report if the report is to meet the stated objectives of integrated reporting. The suggested elements are neither prescriptive nor intended to limit what is included in the report. Judgment should be exercised in determining which elements the organization should report on, as well as the structure of the report. The following is provided for broad guidance purposes only.

A) Report profile

(What is the scope and boundary of the report?)

The report should include a brief description of the scope and boundary of the integrated report.

Some examples of what could be considered for inclusion in the report are:

� The reporting cycle (e.g. annual) and the period covered by the report.

� The reporting boundary, noting the geographic scope, the entities represented in the report (e.g. subsidiaries, JVs, franchisees), and the nature of the information provided for each entity (e.g. operational performance, management performance or general narrative description).

� The process used for identifying the reporting boundary.

� The reporting principles that have been applied

� The policy and practice relating to seeking assurance on the report, the nature and scope of assurance provided for this particular report, any qualifications arising from the assurance, and the nature of the relationship between the organization and the assurance providers.

� Significant restatements from prior reporting periods.

� Reference to major supporting documentation that may be separately available (e.g. the annual financial statements, sustainability report, and other communications with stakeholders).

B) Organizational overview, business model, and governance structure

(How do we create value and make decisions?)

The report should include an overview of the organization, the manner in which it currently creates value, and a description of

Framework for Integrated Reporting

CS(Dr.) S K Gupta Group, CEO, AIHP Gurgaon | [email protected]

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


its governance structure. The level of detail provided should be sufficient for stakeholders to make an informed assessment on the organization’s ability to create and sustain value over the short-, medium- and long-term, and on how efficiently and effectively the organization’s executive team and governing structure have discharged their responsibilities to use the organization’s resources responsibly.


� A brief organizational overview noting:

- The organization’s name, size and the location of its operations and activities.

- The principal activities of the organization, including its products and services.

- The organizational structure, including the principal divisions, subsidiaries, associates

� A concise statement of the business model describing the manner in which the organization currently creates value.

� Information about the existing resources of the organization and any claims against it.

� A brief description of the material aspects of the governance structure, which may include the following:

- A diagram of the governance structure, including the authority levels.

- An outline of general governance aspects, including the key policies, ethical approaches, and

- commitments approved by the organization’s governing structure, as well as the ancillary processes for determining key strategic and tactical approaches.

C) Understanding the operating context

(What are the circumstances under which we operate?)

The report should provide information to allow stakeholders to assess the extent to which the organization’s ability to create and sustain value (in the short-, medium- and long-term) is based on financial, social, environmental and economic systems and its relationships with key stakeholders. Some examples of what could be considered for inclusion in the report are:

Identifying material issues, impacts and relationships

• A brief description of the financial, social, environmental, economic and governance issues and trends that are relevant to the organization’s current and anticipated activities. In identifying these, the organization should consider and identify issues and trends that are relevant to its sector, its products and services, the markets and regions where it operates, as well as the issues and trends that may be specific to the organization itself. In doing this, the organization could

consider:

- Global issues and trends (e.g. exchange rate fluctuations, commodity prices, climate change and demographic developments), as well as local issues and trends (e.g. broad-based black economic empowerment, HIV/Aids and socio-economic inequality).

- Issues and trends that have an immediate bearing on the organization, as well as those that have an anticipated future impact.

• A concise statement of the significant impacts – both positive and negative – of the organization’s decisions and activities on financial, social, environmental and economic systems, identifying those that have material implications for its ability to create and sustain value, and where the organization has the potential to optimise or lessen these impacts.

- Direct impacts could include the direct economic value generated and distributed, the significant use of (or impact on) natural resources, and the material contribution to societal challenges such as skills development and broad-based black economic empowerment.

- Indirect impacts could include the influence on the performance and material impacts of other organizations and individuals within the value chain, and the indirect contribution to employment generation and wealth distribution.

• The organization should consider the quality of its relationships with stakeholders and the potential to impact on the organization’s ability to create and sustain value. The report should briefly:

- Identify the key stakeholder groups and describe how the organization’s relationship with each group may impact on its ability to create and sustain value.

- Describe the organization’s current and anticipated approach to developing and maintaining an effective relationship with each stakeholder group.

• A description of the process that has been followed to identify the issues, impacts and relationships and to determine those that are material to the organization and its ability to create and sustain value. To avoid concerns about being selective in identifying material issues, the organization should explain why any issues that are often considered relevant to its sector or location have not been identified as material. A more detailed explanation of the process for determining materiality may be made available separately.

Identifying risks and opportunities

• A concise statement of the principal risks and opportunities having a bearing on the organization’s current and anticipated activities based on its material issues, impacts and relationships. A table could be included listing the risks and

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opportunities with a summary of the organization’s response to each and perhaps a cross-reference to a more detailed response elsewhere in the report or in other reports.

• Where there is any doubt that the organization, or a major component of the organization, may be a going concern, the reasons for that concern and the factors that may influence the outcome should be communicated.

D) Strategic objectives, competencies, KPIs and KRIs

(Where do we want to go and how do we intend to get there?)

Informed by the analysis outlined above, the organization should provide a statement of its strategic objectives and targets, an indication of the organizational competencies required to realize these objectives, and a succinct list of KPIs and KRIs that will track performance against the strategic objectives and competency requirements. This should cover the short-, medium- and long-term periods.


� A concise statement of the strategic objectives that have been made with the aim of creating and sustaining value over the short-, medium- and long-term. The statement should clearly demonstrate how these strategic objectives are connected with the organization’s business model, its material issues, impacts and relationships, and its identified risks and opportunities.

� An indication of the organizational competencies (internal systems, personnel and culture) required to realize its strategic objectives in the context of the material issues, impacts and relationships. This may include the systems, personnel and culture relating to compliance management, trends analysis, data management, stakeholder relationships, risk management and innovation.

� A list of priority KPIs and KRIs with a brief description of each outlining how they have been determined, including any frameworks used.

Account of the organization’s performance

(How have we fared over the reporting period?)

An important part of the integrated report is an account of the organization’s performance. This includes current financial performance and other appropriate measures of performance. This should include a brief description of the organization’s activities taken in respect of its strategic objectives and targets, as well as a concise review of the outcome of these activities. While the performance review should be primarily at a group level, depending on the nature of the organization it might also entail a high-level review of performance for each of the significant business units. The performance review should be integrated in a holistic manner throughout the report.


• A concise account of the activities undertaken during the reporting period to address the strategic objectives and material impacts, and to ensure the organization has the required organizational competencies to deliver on its strategic commitments.

• A concise description of the outcome (noting both successes and failures) of its activities in terms of its strategic objectives and targets, material impacts, KPIs and KRIs. Sufficient information should be provided to enable an assessment of performance trends and key patterns in terms of the organization’s strategic commitment areas and material impacts.

E) Summary financial information

The integrated report may, depending on the volume of material information and the complexity of the organization, be separate from the more detailed annual financial statements. The integrated report, however, should be able to stand alone and thus should provide sufficient financial information to enable an informed opinion to be made. It is suggested that the following financial information should be included in the integrated report:

� Abridged financial statements (e.g. statement of financial position, statement of changes in equity, and statement of cash flow).

� Explanation of factors influencing change in profits (e.g. changes in volume of inputs or outputs, selling price, input costs, exchange rates, acquisitions or disposals of business or discontinued operations).

� Identification of unusual/non-operating items included in the results – a reconciliation to

� headline earnings/core earnings or whatever measure management believes is the most

� meaningful measure of financial performance.

� Segmented information where relevant.

� Financial investment in future capacity (e.g. capital expenditure, research and development

� expenditure, acquisition of business).

� Factors that may influence future cash flows, such as capital commitments and contingencies.

� Financial value added by the business and how it was applied (e.g. employee benefits, taxes

� paid, providers of capital and reinvested).

� Economic value (as opposed to financial issues) should be specifically addressed – i.e. value


� added to the community, sharing of wealth, distribution of wealth etc.

The financial information used in the integrated report should be derived from and be in alignment with the information contained in the audited annual financial statements. Organizations should not change accounting policies for presentation of information in the integrated report

F) Future performance objectives

(Informed by our recent performance, what are our future objectives?)

In addition to reporting on the performance during the reporting period, the integrated report should include a forward-looking statement of the organization’s anticipated activities and performance objectives, informed by its assessment of recent performance and understanding of societal trends and stakeholder expectations.

� The report should include a clear statement of intent regarding future performance, ideally including specific performance targets. The statement of intent and any accompanying targets should be aligned with the organization’s assessment of the changing societal context, be consistent with its strategy and KPIs and KRIs, and be responsive to the expectations of key stakeholders.

� The report should include a forward-looking reflection on the internal systems, personnel and culture that the organization has identified as being required to address its identified risks and opportunities and to ensure delivery on its strategy. It should outline the anticipated activities being considered to develop the required systems, personnel and culture.

G) Remuneration policies

(What is our approach towards remuneration?)

An integrated report should provide information on how employees in general and senior executives in particular are remunerated.

Disclosure should include how they have been remunerated in the current period, as well as factors that will influence future remuneration. The disclosure in respect of current remuneration should indicate the extent to which the remuneration is fixed and variable and the factors that influence the variable element. Consideration should also be given to disclosing comparatives for the total cost to the organization per employee at the different levels. As senior executives are instrumental in determining the strategy of the organization, it is important to understand how that strategy could influence their future remuneration. KPIs that could influence senior executive remuneration should be identified and the extent to which that could influence remuneration disclosed.

H) Analytical commentary

(What are the views of the leadership about the organization?)

The report should include a brief analytical commentary that reflects the understanding of the organization’s governing structure and executive team regarding the nature of the organization’s current and anticipated performance in the context of the organization’s strategic objectives. The organization should report how it can improve its positive material impacts and how it can eradicate or ameliorate its negative material impacts. Inclusion of appropriate ratios of financial, economic, environmental, social and governance information, as well as summarized historic information is likely to be appropriate.

ConclusionAn integrated report attempts to tell a story about an organisation’s journey towards reaching its vision, reporting about its historical and intended performance. The intended performance is presented with assumptions and the judgements underlying them. These assumptions and judgements can serve as a hedge against litigation. Most importantly an organisation should demonstrate that its focused tactics and strategies underlie its values and are enacted towards reaching the vision during the reporting period. Integrated reporting should make accountability and performance in an organisation transparent, but depends on the ethical qualities (such as honesty, fairness) embedded in the organisation’s values being upheld.

COMPANY SECRETARIES BENEVOLENT FUNDMEMBERS ENROLLED FROM NIRC AS LIFE MEMBERS OF THE COMPANY SECRETARIES BENEVOLENT

FUND DURING THE PERIOD 31/03/2017 TO 26/04/2017

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COMPANY SECRETARIES BENEVOLENT FUND

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

DURING THE PERIOD 31/03/2017 TO 26/04/2017

LM NO. NAME MEMB NUMBER CITYREGION

NIRC

12818 MR. MOHIT KUMAR DIXIT ACS - 49021 NOIDA1

12821 MR. SHASHANK KOTHIYAL ACS - 50494 DELHI2

12834 MR. AASHU KUMAR MANGLA ACS - 29622 FARIDABAD3


Vision Statement Mission StatementAn India where creativity and innovation are stimulated by Intellectual Property for the benefit of all; an India where Intellectual property promotes advancement in science and technology, arts and culture, traditional knowledge and biodiversity resources; an India where knowledge is the main driver of development, and knowledge owned is transformed into knowledge shared.

Stimulate a dynamic, vibrant & balanced intellectual property rights system in India to : Foster creativity and innovation and thereby, promote entrepreneurship and enhance socio economic and cultural development, and Focus on enhancing access to healthcare, food security and environmental protection among other sectors of vital social economic and technological importance.

The new IPR Policy primarily seeks to give impetus to creativity, innovation and entrepreneurship and improve access to healthcare, food security and environmental protection. The policy seeks to protect interests of all the stakeholders including Government, corporates, MSMEs, R&D organisations, educational institutions, start-ups etc.

The National IPR Policy, 2016 lays down the following SEVEN OBJECTIVES:

1. IPR Awareness: Outreach and promotion – To create public awareness about the economic, social and cultural benefits of IPRs among all sections of society. The new IPR policy aims to create awareness among all sections of society about the economic, social, and cultural benefits of IPR. IPR will be made a compulsory part of the curriculum in major institutions and Universities. The need to open a national research institute (NRI) for IPR has also been proposed, to increase outreach.

2. Generation of IPRs – To stimulate the generation of IPRs. With its new national IPR policy, the Government wishes to create an environment where people can think innovatively and generate innovation in every field. This will help India to develop indigenous products and reduce its ever growing foreign independence.

3. Legal and Legislative Framework – To have strong and effective IPR laws, which balance the interests of rights, owners with larger public interest. This is because, if there are no protection mechanisms in the legal system, people will not be encouraged to create more IPR.

“Piracy begins where creativity ends.” -(K C. Kankanala)

The term “intellectual property” literally refers to creation of mind such as an invention, literary and artistic work, design, symbol, name and image used in commerce or trade. For the growth and development of any knowledge driven economy like India, creativity and innovation are the two most important factors and there is no denying the fact that India is abundant in both. However, this creativity and innovation needs to be protected and channelized for being put to better use in future and for this purpose protection through proper IPR laws is most desired for. Although, India has a robust, dynamic, effective and balanced IPR regime, still the Government felt a need to have an all- encompassing National IPR Policy with an aim inter-alia to create awareness of IPR and simultaneously developing an environment to foster India’s IPR system to attain its full potential not only in terms of consciousness but also in terms of commercialisation and effective enforcement. It was also felt that the dream missions initiated by our Hon’ble Prime Minister Shri Narendra Modi ji, viz., Make-in-India, Skill-India, Digital-India, Startup India, Stand up-India can be a success and be effectively implemented only when there is an effectively framed, implemented and enforced Intellectual Property law in India.

Mr. Amitabh Kant, Secretary in the Department of Industrial Policy and Promotion (DIPP) while speaking at the release of a report on the strategic rationale for deeper US-India economic ties said that - “We must be very clear that India can never be a great manufacturing nation, can never be a modern progressive nation if it does not learn to protect people’s intellectual property. Whether we like it or not, we must believe in intellectual property rights”.

Accordingly, to incorporate and adopt the latest best global practices in the context of India, the Government of India, on 13th May, 2016, unleashed and unveiled to Public, the much awaited and long pending, an all-encompassing, National Intellectual Property Rights Policy of India, making a promise of “Creative India, Innovative India”.

An Overview of India’s First Intellectual Property Rights Policy, 2016

CS Dinkar Sharma, Company Secretary, IO System Limited | [email protected]

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Administration and management –The policy aims to modernise and strengthen service-oriented IPR administration. For e.g., Digitisation of all Government filings has made it quite hassle free and easier to register trademarks online. It also saves lot of time of stakeholders.

Commercialisation of IPR – Get value for IPRs through commercialisation. The policy aims to enable Indian companies to get value for IPRs through commercialisation. Generally, the business owners are not aware of how their brand has an impact on their business. Also, a well-protected brand is generally more attracted by investors as it is considered wiser to invest in a company that has everything secured in legal terms.

Enforcement and Adjudication – To strengthen the enforcement and adjudicatory mechanisms for combating IPR infringements. By strengthening the enforcement and adjudicatory mechanism to withstand IPR infringements, a company can protect its work from being stolen by others. The process of opposing and safeguarding IP will involve coordination between various agencies and guiding IP owners to follow best practices to avoid digital piracy.

Human Capital Development – To achieve this objective, the new policy calls for (i) new institutions and capacities for teaching, training, research and skill building in IPRs; (ii) the opening of R&D institutions; and (iii) making IPR a compulsory subject to be taught in schools and colleges. The aim is to develop an increasing pool of skilled IP experts, to facilitate the growth and judicious management of IP assets.

Department of Industrial Policy and Promotion (DIPP) shall be the nodal point to coordinate, guide and oversee implementation and future development IPRs in India, the responsibility for actual implementation of plans of action will remain with the Ministries/ Departments concerned in their assigned sphere of work. Public and private sector institutions and other stakeholders, including State governments, will also be involved in the implementation process.

Some of the Broad Highlights of the policy are as under :

1. The policy provides for financial support to less empowered groups of IP owners or creators such as farmers, weavers and artisans through financial institutions like rural banks or co-operative banks.

2. The administration of Copyright Act, 1957 along with the office of the Registrar of Copyrights, under the Department of Higher Education, is being transferred to the Department of Industrial Policy and Promotion.

3. Indian Cinematography Act, 1952 may be suitably amended to provide for penal provisions for illegal duplication of films, i.e., to control piracy menace.

4. Expedition and modernizaton of the Copyright Office in

terms of office space and infrastructure, organizatonal structure, e-fling facility including e-applicatons, processing and issue of final extracts of registrations;

5. Taking measures for effective management and administration of copyright societies to ensure transparency and efficiency in the collection and disbursement of royalties in the best implementation of guidelines for grant of IP rights and access to biological resources and associated traditional knowledge and benefit sharing;

6. Re-designate the institution of the Controller General of Patents, Designs and Trademarks as Controller General of Intellectual Property Rights to reflect its mandate in view of the proposed change in its scope of responsibilities.

7. To expedite the processing of Trademark applications and to address the backlog issues.

8. To take steps to expedite digitization of the Design office and enable online search and filing;

9. To implement centralized priority field-wise on a national basis for patent applications.

10. To promote patent pooling and cross licensing.11. Since the value and economic reward for the owners

of IP rights comes only from their commercialisation, a concerted effort should be made to capitalise the existing IP assets.

12. To examine the feasibility of an IPR exchange.13. To facilitate investment in IP driven industries and

services through proposed IP Exchange to integrate together the investors, funding agencies and IP owners.

14. To adjudicate IP disputes through commercial Courts set up at appropriate level.

15. Promoting Alternate Dispute Resolution in IP cases by strengthening mediation and conciliation centres.

16. IP Interface with Competition law and policy.17. Interplay amongst IP laws and between IP laws and

other laws to remove ambiguities and inconsistencies, if any.

18. Promote R&D through tax benefits available under various laws, through simplification of procedures for availing direct and indirect tax benefits;

19. Promote ‘infusion of funds to public R&D units’ as a part of Corporate Social Responsibility to foster a culture of open innovation.

20. Review of the policy every five years to keep pace with further developments in the sector.

Conclusion : The new Intellectual Property Rights Policy aims to integrate

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IP as a strategic tool in national development process and envisions a sincere, coordinated and integrated development of IP system in India enterprising the need for a holistic approach to be taken on IP legal, administrative, institutional and enforcement related matters. Accordingly, the policy has made Department of Industrial Policy and Promotion as the nodal agency for bringing cohesion and coordination among various Ministries/Departments in the way they deal with IP matters. It will be responsible for laying down priorities for IP development and preparing plans of action for time bound implementation of national and sector specific IP policies, strategies and programs. However, the responsibility for actual implementation of plans of action will remain with the Ministries/ Departments concerned in their assigned sphere of work. Public and private sector institutions and other stakeholders, including State governments, will also be involved in the implementation process.

The policy also seeks to act as a linkage between IPRs and other national initiatives like Make in India, Digital India etc. and seeks to reach out to those persons, small businesses and artisans etc. who were hitherto not aware of the power of Intellectual Property by making and organising IP awareness programs.

The new IPR Policy has come in the backdrop of US Trade Representative (USTR), retaining India on “Priority Watch List” in its annual (2016) edition Special 301 Report on Global State of IPR Protection and Enforcement. Whereas the new IPR Policy inter-alia focuses on issues like expediting approval processes involving patents or trademarks and consolidating institutional mechanisms to create a robust and effective IPR regime, it refrains from recommending any change to controversial and debatable provisions in the Patents Act, 1970, including Section 3(d) and compulsory licensing. In fact, the Policy states clearly that “India shall remain committed to Doha Declaration on TRIPS Agreement and Public Health”.

It will be not of course here to mention that within the TRIPs agreement, there are some flexibilities in favour of public interest for developing / least developed countries which provided and allowed some relaxation in domestic laws concerning Intellectual Property of these countries. However, this was a major issue of concern for companies engaged in pharmaceutical business because they wanted strict IPR laws in the target countries where they wish sell their products. Thus, these pharmaceutical Companies chose not to recognize such flexibilities given by TRIPs agreement to developing/ least developed countries. India, on the other hand by using such flexibilities made two special provisions in its domestic law concerning patents viz. compulsory license and Section 3(d) in the Patents Act, 1970. The said provisions regarding ‘compulsory license’ enabled for grant of a compulsory license for export of medicines to countries which have insufficient or no manufacturing capacity. The Section 3(d) of Indian Patents

Act puts caveat on some inventions which are not patentable (setting novelty feature as a standard for grant of patents in such cases). As per this section, marginal alterations would not entitle a company to a new patent. The patent period beyond 20 years can only be extended if there a fresh invention and not a marginal alteration in the product.

Another factor contributing to the unleashing of new IPR Policy, 2016 is the fact that India has been placed at Rank 43 amongst 45 nations in Global Innovation Index (according to a report released by US Chambers of Commerce). It has cited India’s “anaemic” intellectual property rights (IPR) policy and patent act as challenges to innovation. When this is the Global scenario, the new IPR Policy comes at most proper time as a saviour. At this point, what is needed most, is to encourage the innovation process amongst people and this can only be achieved by the assurance of strong protection to IPRs and having a robust and effective IPR regime in the country. This will act as an incentive for people to engage in innovation coupled with IPR protection. Hence, new IPR Policy driven by the agenda of IPR maximisation was formulated.

However, despite there being a sincere effort on the part of policy makers in bringing forth an exhaustive and all inclusive policy, there are certain points, like Software Patenting, Internet of Things (IOT), Gaming, UX and UI protection through Industrial Designs and Prototyping laws etc., which could have been addressed in the policy document but have not been dealt with in it.

But irrespective of all its obvious shortcomings, the new IPR Policy document is India’s first Intellectual Property Policy which seems to integrate and protect the interests of various stakeholders supported by good implementation and servicing network. How this Policy works and whether it delivers all that it promises is yet to be seen, but at the preliminary stage, it seems like a promising Policy that seeks to make India creative and innovative.

Bibliography : http://dipp.nic.in/English/Schemes/Intellectual_Property_Rights/National_IPR_Policy_08.08.2016.pdf

http://www.hindustantimes.com/india-news/india-placed-at-43rd-among-45-nations-in-global-innovation-index/story-4gtIA7cWoUnaJklPe95BfJ.html

h t t p : / / w w w . l i v e m i n t . c o m / P o l i t i c s /ZfGGvd3bVdToREjTTMPcYM/India-to-unveil-new-IPR-policy-in-two-months.html

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‘Depression: Let’s Talk,’ a year-long global campaign by the World Health Organisation (WHO) took off on 7 April, World Health Day. WHO estimates that over 300 million people suffered from depression as of 2015, so the current numbers are likely to be higher. This information should be an alarm bell for us, which should make us pause and ask if we are doing enough for our mental wellness, which is also directly connected to emotional wellness. If we are experiencing stress, anger, anxiety, fear, hurt, jealousy or insecurity, our emotional health suffers. Basically, we get ensnared in these negative emotions in the pursuit of that seemingly elusive feeling — H.A.P.P.I.N.E.S.S.

First things first. Where have we been looking for happiness? In all fairness and for what it is worth, we humans begin chasing our dreams right since our childhood and never stop, often not even pause, for decades on, until we have ticked off items on our wish-list.

The biggest, the most detrimental, and the blanket belief that propels us towards our dreams, is that our happiness is tucked behind everything we acquire — that happiness is a by-product of our belongings. So, we sought happiness in our accomplishments, possessions, and relationships. We couldn’t have been more wrong! Let us quickly separate the wheat from the chaff. Therein lie the tenets of happiness.

When we realize what all we have blended happiness with, we can sift it out. Here are our popular belief systems along with their repercussions -

1. Accomplishments make me happy.Whether it is examination grades, qualification, designation, or status — our goals tell us where to head and what to achieve. For the sake of this discussion, assume I am a working professional who figures out that it will take me two years to get to the next designation, the managerial cadre. So, now I channelise energy on performance, project deliverables, work ethics and rapport with colleagues. But from time to time, my own conditioned thought reminds me, “I will be happy when promoted as the manager.” So I am not happy today, and cannot be for two more years!

Suppose, I foresee a setback because of my own incompetence, undercurrents with team members or a change in business needs. I create stress, anger, and anxiety because they are not just hindering progress but hitting at my happiness. Who knows, I may resort to unscrupulous means to get that promotion. I create, experience and transmit negativity to everyone around me. I am emotionally fallen, bruised, stressed, in pain for two years. Now, when I get elevated as a manager, will I be elated? Add to that uncertainty, another possibility — this happiness will be short-lived, because I will soon set my eyes on the next designation, and then the next!

Happiness is not meant to be postponed until the goal is reached. It is in our way of thinking along the way, while working towards the goal.

2. I can buy happiness.Assuming that I condition myself to believe that buying a new car gives me happiness, I make the huge purchase and own the most expensive car loaded with features. Essentially, I have bought physical comfort. Now sample this — while enjoying a long drive, suppose I get a phone call conveying an unpleasant or unexpected news, then my happiness

fizzles. If the car had truly given me happiness, my happiness would remain intact, regardless of the phone call and regardless of anything else for that matter. Even after the phone call, my car continues to give physical comfort, so my physical body is comfortable. But my happiness is an emotional comfort, so when ‘I’ the being (who is looking for happiness) went into pain soon after the phone call, my happiness disappeared.

As we know, it is always mind over matter. Why do we feel happy upon buying a car? That happens when we create a thought that goes, “Wow, I bought my dream car!” This thought generates a feeling of happiness. So we basically used an object (car) as a stimulus to create a response (positive thought).

Let us not purchase objects seeking happiness in them. Everything physical is designed to give physical comfort. Happiness is an emotional comfort.

3. Family and friends give me happiness.Oscillating between territories of acceptance and expectations, the quality and credibility of our relationships have suffered big-time. With the benefit of hindsight, one can see how we got increasingly interested about what we got from people in our field of relationships. What we gave (if we did) to them went unchecked. Our relationships have blossomed regardless, but our list of expectations from each other bloated. We accept people when they think like us, speak like us, act like us, obey us — because we are right!

If I equate my happiness with others’ degree of compliance towards me, the risk is that such happiness cannot last, because no sooner than the person obeys me the first time, I hand out the next expectation. Happiness leaves me at this juncture, only to return if (and only if ) the person complies again. Else, I am an unhappy being. The off-and-on show of happiness continues, with every impending expectation standing between me and my relationships. I need to take a step back and realize that individuals behave per their definitions of rights and wrongs.

No one can make us happy or sad. Happiness is our emotion, our internal creation regardless of relationships in response to peoples’ behavior.

To be happy, be resilient.Stress in science has a simple formula — Stress is pressure divided by resilience. Higher the resilience, lower the stress. Sadly, we ignore the denominator and embrace the conditioning that, stress equals pressure.

Let’s face it! Pressure will always show up as deadlines, exams, relationships, or situations. But if we up our resilience, our inner strength to face that pressure, we will never succumb to stress. Being stress-free implies being stable and hence being happy! Each of us can create happiness of our free will and transform from a state of helplessness into gloriously happy beings.

In that direction, we shall talk more about how happiness can be an uninterrupted emotion, over the next few blogs on this space. Let ‘being happy’ become our mantra, our way of life!

Happiness, Let’s TalkBK Shivani, Brahma Kumaris



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“BE what YOU want to BE” is the famous quote of our former President of India, Dr. A. P. J. Abdul Kalam. The essence of this quote conveys the clarity & sincerity of purpose which we should have in our life & career. By every means we are very fortunate to be bestowed by so many of God’s gifts like – Being born as a human being, basic needs being fulfilled, seeing our parents growing old together & the company of loved ones, being professionally qualified is truly fulfilling. But many times it is seen that inspite of being highly blessed, some people still keep complaining, attitude of gratitude is missing !!

Let us as enlightened souls rise above the level of an average thought & think beyond of the frontiers or milestones which lie ahead of us. Who knows the best in all of us is perhaps yet to come !! A very famous painter was once asked in an award function, “Sir, which is your best painting?” His reply was, the next one which I am about to paint. This spirit of enhancement & the drive to touch great heights is what really turns an ordinary person to an extraordinary human being or in other words, Good to Great.

We need to appreciate that our stay on this planet is limited so time becomes the biggest resource & binding. The one who understands the value of time, in deep sense understands the value of Time Management at work. It is not the time which decided the priorities of our work but on the contrary it is the priorities which decide how much time we will devote & accordingly it decides its outcome. Life is beautiful, but conditions apply !! A great quote from Jim Rohn : Either you run the day or the day runs you.

In the movie, Chariots of Fire, the hero asks - to an Athlete in the race

where does your power come from ? The Athlete replies, its to see the race till the end from within. The transition in a person starts from inside to outside. High Self Image is the starting point. This refers to what you think about yourself and not what the world thinks about you. High Self Image is common in almost all success stories.

Wealth is a product of an individual’s capacity to think. Its not the question of having resources, it’s the feeling of being resourceful. Ultimately you are the one who needs to make a difference and others will subsequently follow.

At the ground level we first need to know thy self. We are perhaps more aware about our surroundings & latest happenings but significantly less aware about our own qualities and undiscovered talents. Secondly we need to know and appreciate thy people which form our life line to include our family members, friends, well wishers, clients and office / work associates. Our endeavor should always be to create a Win – Win situation where everybody wins and this only happens where there is mutual love, respect, trust and most important teamwork.

Equally important is to lively, energetic and ever Smiley. A wise saying – Look Good, Feel Good, Be Good & Do Good. Your positive outlook has a deep impact on your lifelines and leads to positive relationships. Ultimately not to underestimate the importance of balance of your work and family life. Where this balance gets disturbed it leads to stress full situations. Let us commit ourselves to a healthy and positive outlook living which supports our well being and brings about peace and harmony among our people.

HAPPY LEARNING !!!!

Know Thyself & Thy PeopleSuneel Keswani, Trainer (Skill Development) | [email protected]


ANNUAL MEMBERSHIP FEETo reduce the Annual Membership fee w.e.f. 1st April, 2017 for Associate members having 0-2 years of membership (i.e. admitted w.e.f. 1st April, 2015 and thereafter), as under:

Head of fee

Associate member

Fee(upto 31st March, 2017

Revised fee(w.e.f. 1st April, 2017)

Reduced fee(w.e.f. 1st April, 2017)

(for members with 02 years of standing i.e. ACS admitted on or after 1st April, 2015)

Annual membership fee Rs. 1125 Rs. 2500 Rs. 1500Entrance fee Rs. 1500 Rs. 2000 Rs. 2000Restoration fee Rs. 250 Rs. 250

(No change)Rs. 250

(No change)Certificate of Practice fee Rs. 1000 Rs. 2000 Rs. 1500

The reduced fee structure will be applicable for the members having membership of 0-2 years (admitted on any date, on or after 1st April, 2015 to 31st March, 2017) for two financial years only, i.e. for FY 2017-18 and 2018-19. The benefit will also be available to the members admitted on any date, on or after 1st April, 2017 for two financial years, (i.e. the year of admission and the following year) till further determination of fee, if any, by the Council. In nutshell, this benefit will be available to the newly admitted members for a maximum of ‘two’ initial annual membership fee for the period falling on or after 1st April, 2017.


Functional Committees of NIrC

FUNCTIONAL COMMITTEES OF NIRC OF THE ICSI FOR THE YEAR 2017

WOMEN EMPOWERMENT COMMITTEEName Mobile E-mail CS Monika Kohli – Chairperson

9810480983 [email protected]

CS Payal M Puri 9810428024 [email protected]

CS Purnima Sharma 9871027096 [email protected],[email protected]

CS Anjali Kalra 9899566272 [email protected]

CS Sheetal 9999606783 [email protected]

CS Shikha Aggarwal 9811386565 [email protected]

CS Manju Laur 9711994042 [email protected]

CS Harmeet Kaur 7838777119 [email protected]

CS Shweta Attri 9891918098 [email protected]

CS Rupali Kukreja 8744081020 [email protected]

CS Jyoti Khanna 9911126123 [email protected]

CS Geetanjali 9810663485 [email protected]

CS Shruti Vyas 9649498199 [email protected]

CS Jyoti Sharma 9810370312 [email protected]

CS Sonica Bambi 9873132409 [email protected]

YOUNG MEMBERS EMPOWERMENT COMMITTEEName Mobile E-mail

CS Manish Gupta - Chairman 9212221110 [email protected]

CS Anuj Kumar Solanki 9910271427 [email protected]

CS Ekta Maheshwari 7859859991 [email protected]

CS Pooja Chetri 8802208265 [email protected]

CS Anuradha Acharya 8826562111 [email protected]

CS Komal Agarwal 9818981211 [email protected]

CS Balaji Srivastava 9873169769 [email protected]

CS Srishti Sharma 8860767372 [email protected]

CS Mahak Gupta 8586097425 [email protected]

CS Pooja Solanki 9999553226 [email protected]

CS Aastha Vij 9811159764, 9910046874

[email protected]

CS Jagriti Sharma 8447614148 [email protected]

CS Amit Sikri 9810211670 [email protected]

CS Sana Rehman 8587994691 [email protected]

CS Himanshu Harbola 9818993836 [email protected]

RESEARCH & PUBLICATION COMMITTEEName Mobile E-mail

CS Manish Gupta, Chairman 9212221110 [email protected]

CS Prashant Sukhadeorao Thakre 7758821782 [email protected]

CS Madhusudan Sharma 9868872918, 8817311444 [email protected]

CS Sushil Dagga 9829689999 [email protected]

CS Ankur Srivastava 9794551756 [email protected]

CS Rohit Gupta 9997858779 [email protected]

CS Vivek Sharma 9711436799 [email protected]

CS Gaurav Kumar 9599424211 [email protected]

CS Pawan Barodiya 9818340919/ 09602464929 [email protected]

CS Harssh Golchaa 8527617798 [email protected]

CS Sunpreet Singh 9971443104 [email protected]

CS Varun Kapoor 9899110705 [email protected],[email protected]

CS Swaran Kumar Jain 9811293795 [email protected]

CS Sharad Rajwanshi 9811193114 [email protected]

CS Shruti Bansal 9811530248 [email protected]

CAREER AWARENESS COMMITTEEName Mobile E-mail

CS Monika Kohli - Chairperson


CS Anju Yadav 9654545019 [email protected]

CS Sudish Kumar Gupta


CS Sangeeta Harpalani


CS Hitesh Kumar 9971388354 [email protected]

CS Shefali Bharti 8960825113, 9807656327

[email protected]

CS Ashima Arora 8800172312 [email protected]

CS Devesh Arora 8860212992 [email protected]

CS Chhavi Jain 9069986970, 8285426808

[email protected]

CS Hansa Sharma 9811520922 [email protected]

CS Ritu Goyal 9582004704 [email protected]

CS Sonia Bansal 9999023272 [email protected]

CS Vinay Shukla 9810624262 [email protected]

CS Bholi Kumar Pandey



Compliance Checklist

S. No. Activities Sections/Rules/ Clauses, etc.

Acts/Regulations etc. Compliance Due Date

To whom to be submitted

Central Excise Related Compliance1. Last Date for payment of Excise Duty

Non SSI units (May) *(in case of Payment through Internet banking)

Rule 8 Central Excise Rules, 2002 05th June *06th June

Central Excise Authorities

2. Filing of Return of Central Excise and Cenvat Credit for the month of May, 2017 (Form No. ER-1) (Non SSI Units)

Rule 12 / Rule 9(7) Central Excise Rules, 2002/ CENVAT Credit Rules, 2004

10th June Central Excise Authorities

3. Monthly Excise return by EOU for the month of May, 2017 (Form No. ER-2)

Rule 17(3) Central Excise Rules, 2002 10th June Central Excise Authorities

4. Monthly Return of information relating to Principal Inputs (May, 2017) (Form No. ER-6)

Rule 9A CENVAT Credit Rules, 2004 10th June Central Excise Authorities

Service Tax Related Compliances5. Pay Service Tax in Challan GAR – 7,

collected for the month of May, 2017 by persons other than individuals proprietors and partnership firms. *(in case of Payment through Internet banking)

Section 68 Read with Rule 6 Finance Act, 1994Service Tax Rules, 1994

05th June*06th June

Service Tax Authorities

Income-tax Related Compliances6. Quarterly issuance of certificate of tax

deducted at source (other than salary) for the quarter ending March 31.

Section 203 Income-tax Act, 1961 30th May Income Tax Authorities

7. Quarterly issuance of Certificate of collection of tax at source (TCS) for the Quarter Ending 31st March.

Section 192 Income-tax Act, 1961 30th May Income Tax Authorities

8. Certificate of tax deducted at source (TDS) to employees in respect of salary paid during the previous financial year

Section 192 Income-tax Act, 1961 31st May Income Tax Authorities

9. Contractor’s Bill / Advertising / Professional service Bill - TDS collected for the previous month Section 194J (May, 2017)

Section 194CSection 194J

Income-tax Act, 1961 07th June Income Tax Authorities

10. Monthly payment of TCS (May, 2017)

Section 206 Income-tax Act, 1961 07th June Income Tax Authorities

11. TDS from Salaries for the previous month (May, 2017)


12. Deposit TDS from salaries for the previous month in Challan No.281 (May, 2017)


13. Advance Tax Payment Section 211 Income tax Act, 1961 15th June Income Tax Authorities

RBI Related Compliances14. Yearly submission by Non-Banking

Financial Companies (NBFCs-ND) having asset-size of Rs. 100- Rs. 500 crore in NBS-8

Master Direction DNBS.PPD.02/66.15.001/ 2016-17 dated September 29, 2016

Master Direction- Non-Banking Financial Company Returns (Reserve Bank) Directions, 2016

30th May RBI

15. Yearly submission by all Non-Banking Financial Companies (NBFCs-ND) having asset-size of below Rs. 100 crore in NBS-9

Master Direction DNBS.PPD.02/66.15.001/ 2016-17 dated September 29, 2016

Master Direction- Non-Banking Financial Company Returns (Reserve Bank) Directions, 2016

30th May RBI

COMPLIANCE CHECKLIST FROM 20TH May, 2017 TO 20TH June, 2017


S. No. Activities Sections/Rules/ Clauses, etc.

Acts/Regulations etc. Compliance Due Date

To whom to be submitted

16. Reporting of actual transactions of ECB in form ECB-2 within 7 working days (May, 2017)

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

Economic, Industrial & Labour Law Related Compliances17. Payment of ESI contribution for the

previous monthRegulation 31 Employees’ State Insurance

Act, 1948 andEmployees State Insurance (Gen.) Regulations, 1950

21st May ESIC Authorities

18. Monthly return of Provident Fund for the previous month (April) Provident funds

Paragraph 38 of Employees’ Provident Act, 1952

Employees Provident Funds and Misc. Scheme, 1952

25th May Provident Fund Authorities

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

Paragraph 36 The Employees' Provident Funds Scheme, 1952

25th May Provident Fund Authorities

20. 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 June Provident Fund Authorities Trustees of Provident Fund

21. File monthly return for employees leaving / joining during the month of May(Form No.5)

Pragraph 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 June Provident FundCommissioner

22. 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 May (Form no. 3(IF))

iii) File monthly return of members joining service during the month of May (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 June Provident FundCommissioner

Stock Exchange / Listing Compliance23. Submission of Audited Financial Results Clause 33(3)

(a to f ) SEBI (Listing Obligations and Disclosure Requirements) Rules, 2015

30th May Stock Exchange

Note: While every care has been taken in the preparation of this Compliance Check List for the Month of May, 2017, 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.

Note : *With effect from October 1, 2014, the CBEC vide Notification No. 19/2014- CE(NT) and Notification No. 9/2014-ST, both dated July 11, 2014 had made it mandatory for payment of tax/ duty electronically through internet banking for all Central Excise and Service Tax Assesses except in exceptional cases to be recorded by Divisional Assistant / Deputy Commissioners.

Compiled by: CS Abhishek Gupta | [email protected] by : CS Punit Arora ! [email protected]

Compliance Checklist


News from NIrC

NEWS FROM NIRCNIRC organised the following programs:

Date Program Chief Guest/speakers Present11.4.2017 Inauguration of 263rd

Management Skills Orientation Program (MSOP)

Chief Guest: CS Ashok Tyagi, Company Secretary in Practice

CS Dhananjay Shukla, CS Pradeep Debnath, CS Nitesh Sinha, CS Alka Arora and participants

21.4.2017 Workshop on Secretarial Audit

Guest Speakers: CS Ilam Kamboj, Managing Partner, Kamboj Law Chambers and CS Ranjeet Pandey, Council Member-ICSI

CS Dhananjay Shukla, CS Nitesh Sinha, CS Alka Arora and participants

24.4.2017 Campus Placement for 260th & 261st batches of MSOP participants

CS Dhananjay Shukla, Members and participants

25.4.2017 Valedictory Session of 262nd Management Skills Orientation Program (MSOP)

Chief Guest: CS Mahaveer Singhvi, Joint Secretary (CT), Ministry of External Affairs of India

Guest of Honour: CS Jayant Sood, Company Secretary, Indo Rama Synthetics (India) Limited

CS Dhananjay Shukla, CS Nitesh Sinha, CS Alka Arora and participants

27.4.2017 Study Session on Voluntary Liquidation Process & Removal of Names of Companies

Guest Speaker: CS Ashok Tyagi, Company Secretary in Practice

CS Dhananjay Shukla, CS Nitesh Sinha, CS Saurabh Kalia and participants

29.4.2017 Program on Goods & Services Tax (GST)

Chief Guest: Shri Arjun Ram Meghwal, Hon’ble Union Minister of State for Finance and Corporate Affairs

Guest of Honour: Mr. Gopal Krishna Agarwal, Council Member-ICSI (Government Nominee)

Presided by: CS (Dr.) Shyam Agrawal, President-ICSI

Key-note Speaker & Chairman of the Session: CS Upender Gupta, IRS, Commissioner (GST), Ministry of Finance

Guest Speakers: Mr. Ravneet Singh Khurana, IRS, Deputy Commissioner (GST), Ministry of Finance; Mr. N. Mathivanan, Principal Partner, Lakshmi Kumaran and Sridharan;

Ms. Seema Redhu Arora, Vaish Associates and CS Srinivas Kotni, Founder & Managing Partner, LEXport

CS Dhananjay Shukla, CS Ranjeet Pandey, CS Rajiv Bajaj, CS Satwinder Singh, CS Vineet K Chaudhary, CS Dinesh C Arora, CS Pradeep Debnath, CS Nitesh Sinha, CS Manish Gupta, CS Monika Kohli CS NPS Chawla, CS Alka Arora and members

1.5.2017 Inauguration of 15 days Crash Course exclusively for Female Members

Guest Speaker: CS Vineet K Chaudhary, Council Member-ICSI

CS Dhananjay Shukla, CS Nitesh Sinha, CS Monika Kohli, CS Alka Arora and participants

1.5.2017 Valedictory Session of 263rd Management Skills Orientation Program (MSOP)

Chief Guest: CS Yogesh Gupta, Past Chairman, NIRC-ICSI

CS Dhananjay Shukla, CS Nitesh Sinha, CS Monika Kohli, CS Alka Arora and participants

8.5.2017 Inauguration of 264th MSOP

Chief Guest: CS Harish K Vaid(Past Vice-President-ICSI), Senior President (Corporate Affairs), Jaiprakash Associates Limited;

CS Dhananjay Shukla, CS Pradeep Debnath, CS Nitesh Sinha, CS Alka Arora and participants


CSBF

10,000.

7,50, 000.

CS Dhananjay ShuklaChairman09873347280

10,000

3


Lighter Side of the profession

ATTENTION MEMBERS /STUDENTS

The 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.

OBITUARY‘NIRC-ICSI Newsletter’ deeply regrets the sad demise of CS Pradeep Kumar Sharma, FCS-6836 on 10.05.2017 at Ghaziabad.

May the Almighty bestow courage to the bereaved family members to withstand the irreparable loss.

May the departed soul rest in peace.

CAREER AWARENESS PROGRAMSNIRC has organised 15 Career Awareness Programs & career fairs during the month of April, 2017 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.

LIGHTER SIDE OF THE PROFESSION“Paramjeet Singh,how is your new MD?” “Hopeless for me” “Why?” “Because he is able to make out between Pretending to do hard work and hard work.”

*************** “What reward is being given to the Employee of the year of The Company?” “Nano Car.” “Why such a big difference as it was Toyota Fortuner last year.” “It is due to economic condition of the Company.”

—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

CHAPTERS OF NIRC-ICSI

Agra, Ajmer, Allahabad, Alwar,

Amritsar, Bareilly, Bhilwara, Bikaner,

Chandigarh, Dehradun, Faridabad,

Ghaziabad, Gurgaon, Jaipur,

Jalandhar, Jammu, Jodhpur, Kanpur,

Karnal-Panipat, Kota, Lucknow,

Ludhiana, Meerut, Modinagar, Noida,

Shimla, Sonepat, Srinagar, Udaipur,

Varanasi & Yamuna Nagar.

Statement about ownership and other particulars of ‘NIRCICSI Newsletter’.

1. Place of Publication New Delhi2. Periodicity of its Publication Monthly3. Printer’s Name S K Nagar

Whether citizen of India? Yes If foreigner, state the Not applicable.country of origin Joint Secretary (N)Address NIRC-ICSI

4 Prasad Nagar Inst. Area,New Delhi - 110 005

4. Publisher’s Name S K NagarWhether citizen of India? YesIf foreigner, state the Not applicablecountry of origin

5. Chief Editor’s Name Manish GuptaWhether citizen of India? YesIf foreigner, state the Not applicablecountry of origin Chairman, NIRC-ICSIAddress 4 Prasad Nagar Inst. Area,

New Delhi - 110 0056. Name and Address Not applicable

of Owner O�cial Newsletter ofthe NIRC of the ICSI.

I, S K Nagar hereby declare that the particulars given above are true to the best ofmy knowledge and belief.

(S K NAGAR)Dated 30.1.2017 Signature of the Publisher

THE REGISTRATION OF NEWS PAPERS


Corporate Membership of NIrC

Corporate Membership of NIRC-ICSI for the year 2017-18The Corporate Membership Scheme of NIRC of ICSI is open for the Financial Year 2017-18 (April’17 to March’18). Anyone becoming a member

under the Scheme shall be entitled to the following benefits:

Corporate Membership Scheme – Option-I (Delhi) Corporate Membership Scheme – Option-II (Delhi & Chapters) � To attend all the paid programs (Except workshop and

residential programs) organized by NIRC at Delhi free of charge throughout the financial year 2017-18.

� Minimum 12 Program will be organised under this Scheme. � The member may depute any other officer only from his/

her organization with the authorization on letter head of the Company, certifying that the nominated person is from his/her organization.

� The individual member/PCS may depute only his partner, employee from his/her Firm with the authorization on letter head, certifying that the nominated person is from his/her Firm.

� Credit hours will be given to only those members who joins the program upto 10.30 a.m.

� PDP hours will be given to only those students who pay the participation fee.

� Presentation made by the speakers of all programs will be shared.

� The fee structure for the corporate membership for financial year 2017-18 is as under:

Particulars Amount (Inclusive of Service Tax) (Service Tax Registration No.AAATT1103FSD005)

(PAN NO.AAATT1103F)

For Members Rs.10,500

For PCS Rs.9,500

For Non-Members Rs.11,600For Senior Citizens Rs.8,800

� To attend all the paid programs (Except workshop and residential programs) organized by NIRC & its participating Chapters at any location throughout Northern Region free of charge throughout the financial year 2017-18.

� Minimum 12 Program at Delhi & all programs organised by the participating Chapters will be covered under this Scheme.

� The member may depute any other officer only from his/her organization with the authorization on letter head of the Company, certifying that the nominated person is from his/her organization for all the programs to be held in Delhi (Not applicable for programs organised by the participating chapters).

� The individual member/PCS may depute only his partner, employee from his/her Firm with the authorization on letter head, certifying that the nominated person is from his/her Firm for all the programs to be held in Delhi (Not applicable for programs organised by the participating chapters).

� Credit hours will be given to only those members who joins the program upto 10.30 a.m.

� PDP hours will be given to only those students who pay the participation fee.

� Presentation made by the speakers of all programs will be shared � The fee structure for the corporate membership for financial year 2017-

18 is as under:

Particulars Amount (Inclusive of Service Tax)(Service Tax Registration) No.AAATT1103FSD005)

(PAN NO.AAATT1103F)For Members Rs.13,500For PCS Rs.12,900For Non-Members Rs.14,600For Senior Citizens Rs.11,800

The Corporate Members for the year 2016 were also given Annual Legal & Compliance Referencer - 2017 and were also invited in New Year

Celebration and Dinner free of cost.

Further, concessional fee was charged from the corporate members for the State Conferences and other residential programs as organized by

the NIRC during the year.

I request you to kindly enrol for Corporate Membership for the year 2017-18 on any of above options.

The payment for Corporate Membership can be made through following options:

Option 1 – Cash deposit at NIRC Building, 4 Prasad Nagar Institutional Area, New Delhi

Option 2- NEFT transfer to NIRC- ICSI Saving Bank Account No. SB- 90062010039267

Syndicate Bank, East Patel Nagar, New Delhi – 110008, RTGS/ NEFT IFSC – SYNB0009006

Option 3 Paytm payment through link :-

https://paytm.com/education?op=The%20Institute%20of%20Company%20Secretaries%20of%20India%20NIRC&type=registration

Option 4 Cheque/DD towards the Corporate Membership Fee for the requisite amount be drawn in favour of “NIRC of the ICSI” and sent to

Regional Director, NIRC of ICSI, 4, Prasad Nagar Institutional Area , New Delhi-110005.

Note: For NEFT & Paytm payment - Transaction ID alonghwith details to be mailed to [email protected] and [email protected] and CC to deepak.

[email protected]


FORM OF CORPORATE MEMBERSHIP OF NIRC-ICSI FOR PROFESSIONAL DEVELOPMENT PROGRAMS FOR THE FINANCIAL YEAR 2017-18

(OPTION-I (DELHI) / OPTION-II(DELHI & CHAPTERS)(1) Name of Nominated Person : ....................................................................................................................................................

(2) Membership No (ACS/FCS) : .....................................................................................................................................................

(3) Corporate Membership No. of NIRC : ....................................................................................................................................

(For existing members only)

(4) Sponsoring Organisation : ........................................................................................................................................................

Telephone ................................................................................... Fax ............................................................................................

Mobile.........................................................................E-mail .........................................................................................................

(5) Details of Payment of Fee Paytm/ NEFT transfer /Cash/Cheque/DD No/ ............................. dated................................

Bank .......................................................................................................... Amount ........................................................

Date : ........................... Signature

Corporate Membership of NIrC


Forthcoming program

Seminar on

OPPORTUNITIES AND PROSPECTS FOR CS UNDER IBC

Chief Guest:

HON’BLE JUSTICE SHRI S J MUKHOPADHAYAChairperson

National Company Law Appellate Tribunal (NCLAT)

Special Address:CS (DR.) M S SAHOO

ChairpersonInsolvency and Bankruptcy Board of India

Guest of Honour:

MS. SUMAN SAXENAWhole Time Member

Insolvency and Bankruptcy Board of India

Day & Date: Saturday, the 20th May, 2017

Registration: 9.00 AM onwards(Program will be from 10.00 AM to

5.00 PM)

Place: Hotel Radisson Blu

H - 3, Sector - 14, Kaushambi – 201010

(Near Kaushambi Metro Station)

Fee:Rs.1600/- per delegate inclusive of

service tax(Rs.1000/- for students) ; FREE for

Corporate Members of NIRC(2017-18)

Registration:In order to make necessary arrangements, Members are requested to enrol well in advance with Regional Director, NIRC-ICSI, 4, Prasad Nagar Institutional Area, New Delhi. Members are requested to deposit the requisite fee well in advance with NIRC-ICSI, 4, Prasad Nagar Institutional Area, New Delhi. The fee may be paid through cash/cheque in favour of NIRC of ICSI which may be deposited at NIRC-ICSI Office. Tel.:+91-11-49343000, E-mail: [email protected]

The fee may also be paid through Paytm through the following link: https://paytm.com/education?op=The%20Institute%20of%20Company%20Secretaries%20of%20India%20

NIRC&type=registration

(CREDIT HOUR:04; PDP HOURS:08)

(Credit Hours will be given to only those members who joins the programs upto 10.30 AM and mark the attendance both at the beginning & conclusion of the program)

With best regards,CS DHANANJAY SHUKLA

Chairman, NIRC- ICSIMobile: 9873347280

Email: [email protected]

CS RAJEEV BHAMBRISecretary, NIRC-ICSI & Chairman, Prof. Dev. &

Programs Coordination Committee, NIRCMobile: 09915710010


CS NITESH KUMAR SINHA(Treasurer-NIRC)

Program CoordinatorMobile: 9871500827



Images

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1 Inauguration of 263rd Management Skills Orientation Programs (MSOP) -21.4.2017: Group photograph of participants alonwith Chief Guest: CS Ashok Tyagi,Company Secretary in Practice; CS Pradeep Debnath, CS Nitesh Sinha, CS Alka Arora and Dr. Bhole Shankar Sikhwal.

2 Valedictory Function of 262nd MSOP (25.4.2017): L to R CS Nitesh Sinha, CS Jayant Sood, Company Secretary, Indo Rama Synthetics (India) Limited, CS Dhananjay Shukla, CS Mahaveer Singhvi, Joint Secretary (CT), Ministry of External Affairs of India, CS Alka Arora and others. Best Project Report/Best Participants standing.

3 Valedictory Function of 263rd MSOP (1.5.2017): L to R Dr. Bhole Shankar Sikhwal, CS Nitesh Sinha, CS Yogesh Gupta (Past Chairman, NIRC-ICSI), CS Dhananjay Shukla, CS Monika Kohli and CS Alka Arora. Best Project Report/Best Participants standing.


18-19.05.201715.05.2017

2 3

4

5

1

1 Workshop on Secretarial Audit (21.4.2017): L to R CS Nitesh Sinha, CS Ilam Kamboj, Managing Partner, Kamboj Law Chambers, CS Dhananjay Shukla and CS Ranjeet Pandey, Council Member-ICSI

2 Inauguration of 15 days Crash Course exclusively for Female Members(1.5.2017): L to R CS Monika Kohli, CS Vineet K Chaudhary, Council Member-ICSI, CS Dhananjay Shukla and CS Nitesh Sinha.

3 Study Session on Study Session on Voluntary Liquidation Process & Removal of Names of Companies (27.4.2017): CS Dhananjay Shukla welcoming CS Ashok Tyagi by presenting bouquet. Others seen CS Nitesh Sinha, CS Saurabh Kalia and CS Deepak Kukreja.

5 Training-cum-Workshop titled “Utkarsh..Proliferating the path to Success” (5.5.2017): Group photograph of EO/Incharges of Chapters of NIRC alongwith CS Shyam Agrawal, President-ICSI, CS Makarand Lele, Vice-President-ICSI, CS Dinesh Chandra Arora, Secretary-ICSI, CS Alka Arora, Regional Director, NIRO and others.

4 Inauguration of 264th Management Skills Orientation Programs (MSOP) -8.5.2017: Group photograph of participants alonwith Chief Guest: CS Harish K Vaid(Past Vice-President-ICSI), Senior President (Corporate Affairs), Jaiprakash Associates Limited; CS Dhananjay Shukla, CS Pradeep Debnath, CS Nitesh Sinha, CS Alka Arora and Dr. Bhole Shankar Sikhwal.

Documents

National Best Regional Council (2004, 2007, 2008, 2009 ... · 2 NIRC - ICSI Newsletter | May 2017 From the Chairman Regional Director CS Alka Arora Co-opted Page No. CS Ravinder,