NIRC - ICSI Newsletter | November 2016

NIRC - ICSI Newsletter | November 2016 1

Monthly • Volume XXXV • Page 1-24 • No.11 • November, 2016

1 Celebration of CS Day – Panel Discussion among the Past Presidents-ICSI & Motivational Talk (4.10.2016): L to R: CS Manish Gupta welcoming CS Pavan Kumar Vijay, CS O P Dani, CS Nesar Ahmad, CS (Dr.) G B Rao and CS (Dr.) Pawan G. Agrawal by presenting flower bouquet. CS G P Madaan welcoming, CS Virender Ganda by presenting flower bouquet.

2 Celebration of CS Day – Panel Discussion among the Past Presidents-ICSI (4.10.2016): L to R Panellists: CS Pavan Kumar Vijay, CS O P Dani, (Moderator: CS Ranjeet Pandey, Council Member-ICSI), CS (Dr.) G B Rao, CS Nesar Ahmad and CS Virender Ganda, Past Presidents-ICSI.

3 Celebration of CS Day – Motivational Talk (4.10.2016): Motivational Guest Speaker: CS (Dr.) Pawan G. Agrawal of Mumbai seen with Chairman, NIRC, Council Members-ICSI, Past Presidents-ICSI, Regional Council Members, NIRC, Past Chairmen of NIRC and Former Secretaries-ICSI.

4 Seminar on Cross Border Trade & Investment – Exchange Regulations(22.10.2016): L to R CS Nitesh Sinha, Guest of Honour: Shri Ishtiyaque Ahmed (Director, DIPP), CS Manish Gupta, Chief Guest: Shri Tarun Singh (General Manager, Reserve Bank of India, FED), CS Rajiv Bajaj and CS Rajeev Bhambri.

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CS Alka AroraRegional Director

Co-opted

Page No.

CS Ravinder, IAS 011-23063212

09810375788

Man needs his difficulties because they are necessary to enjoy success.

~ Dr. A. P. J. Abdul Kalam

• From the Chairman 2-4• 1st Regional Conference for Women 5• Articles 6-10• Compliance Checklist 11-12• Forthcoming Programs 13• News from NIRC 14-15• CSBF 16-17• Financial Assistance Scheme 18• Half yearly YUVA Corporate Membership Scheme 19• Half yearly Corporate Membership Scheme 20• Forthcoming Programs 21-22

Dear Professional Colleagues,

I hope and anticipate that all my professional colleagues and their family members have celebrated Diwali, Goverdhan Puja and Bhai Dhoj festivals with lot of joy, pleasure and in best of health, knowledge and prosperity. While the world is becoming individualistic, festivals like these give us moments to be in the company of loved ones and realise the importance of this togetherness in life.

Friends, Company Secretary Profession in India has grown big, not because it has come across a multitude of decades, but because it has had a glorious eventful past that we can take pride on while reflecting on its curve of growth. The profession through its Code of Ethics has helped its followers in strictly adhering to the agenda of social responsibility, eventually bolstering the economy of our nation. On the same line, on 4th October, 2016, the whole fraternity of Company Secretaries had celebrated 48th CS Day. At NIRC we celebrated the CS Day by organizing Blood Donation Camp & plantation of sapling and panel discussion among Past Presidents of ICSI, followed by motivational talk for members of the Institute.

Friends, as you are aware that the November, 2016 is the peak month for the filing of the Financial Statements and Annual Returns on MCA 21 portal. I am pleased to inform you that in response to our representation to ICSI-HQ, Ministry of Corporate Affairs further extended last date for filing of financial statements and annual returns using e-forms AOC-4, AOC-4 (XBRL), AOC-4 (CFS), or MGT-7, as the case may be, without payment of additional fee, wherever applicable, till 29th November,

From the Chairman


From the Chairman2016. Further, we request you to ensure Annual filing of

financial statements and Annual Returns at the earliest by

the companies with which you are associated to avoid last

minute rush and system congestion on the MCA21 portal.

Your NIRC is always been at forefronts for providing services to

stakeholders at their doorsteps, I am pleased to inform that on the recommendation of NIRC, the Institute has accorded its approval for opening of three new Examination Centre in the Northern Region. New Examination Centres

for the December Exams are opened at Muzaffarnagar, U.P.

& at Jhunjhunu, Rajasthan and will be opened at Aligarh,

U.P. with effect from June, 2017 examination session. I am

sure students residing in & around these new centres will

be benefitted and it might help the institute to get the fresh

registration of students residing in these areas..

Friends, I am happy to share that the NIRC campus building

at Prasad Nagar, Delhi is now fully equipped with the latest

technology and we have achieved another milestone by

installation of a 24 Hours ATM Machine for exclusive use of Members & Students of ICSI. The ATM Machine has been

installed by the Axis Bank and was inaugurated on 29-10-

2016 on the eve of Diwali festival. Further to add on this,

ATM machine shall also work as virtual office / front office for NIRC in the days to come and all fees relating to various

Student & Members program can also be deposited 24 x 7

through this machine. This endeavour of NIRC will surely help

the out-station students who are utilising the reading room &

undergoing the Oral Tuition classes at NIRC.

It is our endeavor to continuously update and enhance the

quality of the syllabus in view of the current trends and

practices of the profession. I am happy to share that at NIRC has forwarded detailed suggestions on the draft syllabus for all levels of examinations to the HQ after taking

inputs from faculty members of oral tuition classes. We are

sure that the meaningful inputs given by members on the

Proposed New Syllabus of the Company Secretary Course to

the Institute will not only add value but also provide wider

perspective towards the growth and development of the

students.

In order to cater to the needs of Senior Professionals who have

qualified their examinations but not able to attend 15 days

long compulsory Management Skills Orientation Program

(MSOP), your NIRC for the first time organizing its 1st Weekend Management Skills Orientation Program (WE-MSOP) from 13th November, 2016 to 14th January, 2017 at

NIRC premises apart from regular batches of MSOP. I request

my professional colleagues to publicize the 1st Weekend

Management Skills Orientation Program (WE-MSOP) being

organised by NIRC in your circle which will enable us to get

maximum number of eligible students.

I am pleased to inform you that the quantum of financial assistance to the dependent(s) of the life members of CSBF is going to be increased from Rs. 5 Lakh to Rs. 7.5 lakh w.e.f. 1st January, 2017 in the unfortunate event of the

death of the life member. I take this opportunity to thank the

Managing Committee of CSBF and the Institute in leading

the way forward to extend its helping hand in making the

Fund financially secure through its regular and generous

contributions. I would hence strongly urge you to become

a life member of the CSBF by seizing this opportunity by

making a onetime online/offline payment of Rs. 7,500/-

before the subscription increases to Rs. 10,000/- effective

from 1st January, 2017.

Friends, NIRC is continuously providing ample opportunities

to the members for updating their knowledge by organising

various quality professional development programs. NIRC

has organised the following programmes for members

during the month of October, 2016 :

• On 4th October, 2016 NIRC celebrated CS Day in a

unique manner, by organizing Blood Donation Camp & plantation of sapling in the morning at NIRC premises and in the evening a panel discussion among Past Presidents of ICSI, followed by motivational talk for

members of the Institute. In the panel discussions CS (Dr.) G B Rao, Past Presidents-ICSI - 1984-85, CS O. P. Dani, Past Presidents-ICSI - 1994, CS Virender Ganda, Past Presidents-ICSI - 1999, CS Pavan Kumar Vijay, Past Presidents-ICSI - 2003 and CS Nesar Ahmad, Past Presidents-ICSI - 2012 addressed the members

and replied to various queries of members. The session

was moderated by CS Ranjeet Pandey, Council Member-

ICSI and then CS (Dr.) Pawan G. Agrawal, (Dubbawala

from Mumbai) an International Motivational Speaker

also addressed the members which was appreciated by


From the Chairmanmembers. I take this opportunity to thank from the core of my heart to the Past Presidents-ICSI and Motivational speaker and participating members for sparing their valuable time for the successfully organisation of Celebration of CS Day.

• On 5th October, 2016 PCS Help Line was organised on “SEBI (LODR) Regulations, 2015” & On 19th October, 2016 on “Annual Filing” where in. CS Arvind Kohli, PCS and CS Swaran Kumar Jain, PCS were the experts respectively. A large number of queries have been attended and resolved.

• On 15th October, 2016, NIRC organised a Workshop on the theme “ Workshop on Annual Filing – Concepts & Techniques” at ICSI-NIRC Building, New Delhi. CA Ankit Varshney, Associate, Webtel Electrosoft (P) Ltd. and CS Sharad Rajwanshi, PCS have shared their knowledge on the allotted topic. The members were benefited with the latest development and got updations on the subject.

• On 22nd October, 2016, NIRC organized a full day seminar on the theme “Cross Border Trade & Investment – Exchange Regulations” at Hotel Leela Ambience, Delhi. I take this opportunity to express my sincere gratitude to Shri Tarun Singh, General Manager, Reserve Bank of India, FED and Shri Ishtiyaque Ahmed, Director, DIPP for sparing his valuable time to be the Chief Guest and Guest of Honour on the occasion. I express my gratitude to all the speakers of the seminar for sharing their knowledge and experience with the participants. Address by galaxy of guest speakers CS Atul Mittal, Director, Deloitte Haskin & Sells; Shri Sunil Kumar, Director, Ernst & Young LLP and CS T R Ramamurthy, PCS provided enormous value addition to the qualitative deliberation at the seminar.

Forthcoming Programs • On 10th November, 2016, NIRC is organizing “Campus

Placement for 245th to 250th batches of MSOP participants” at ICSI NIRC Building, New Delhi-110005, I personally seek support and cooperation for the campus placement and request everyone to kindly arrange at least one Company/PCS/Consultancy firm/Law firm/Financial Institution to participate in the Campus

Placement and recruit MSOP participants (on the verge of getting CS Membership).

• On 12th November, 2016, NIRC is also organizing one day Seminar on the theme Corporate Fraud – Litigation and Reporting at Hotel Shangrila, New Delhi, which will be addressed by the eminent speakers and complete details are printed in this newsletter elsewhere.

• On 3rd December, 2016, NIRC for the first time will be organizing 1st Regional Conference for Women on the Theme: “Women in Leadership Roles ‐ Challenges and Success Mantras” at NDMC Auditorium, Connaught Place, New Delhi. I humbly request all female company secretaries to participate in large numbers in order to make this conference a grand success.

As you all are aware that the Half Yearly Corporate Membership Scheme including YUVA Corporate Membership of NIRC for the financial year 2016-2017 (October, 2016 to March, 2017) is already been released. The schemes will allow members to participate in the programs organised by NIRC and its Chapters. The detailed schemes are published elsewhere in the newsletter for your reference. I request you to kindly avail this opportunity and take the half yearly membership.

At the end, it is my earnest desire to have continued interaction with all of you. I earnestly solicit opinion and suggestions from all of you for further betterment of the activities of NIRC and upgradation of the profession. Feel free to contact me at [email protected]

Last but not the least, I take this opportunity to wish you all a very Happy Guru Nanak Dev Ji’s Jayanti.

With best regards,Yours sincerely,

(CS MANISH GUPTA)[email protected]

[email protected] : 09212221110


NortherNINdIaregIoNalCouNCIl

REGIONAL CONFERENCE FOR WOMEN

st

on the Theme:

“Women in Leadership Roles - Challenges and Success Mantras”

1VENUE:

NDMC Convention Centre Auditorium (Opposite Jantar Mantar)

Connaught Place, Near Parliament Street, New Delhi – 110001.

DAY, DATE & TIME:Saturday | 3rd December, 2016

(10.00 AM to 3:30 PM)

DELEGATE FEES:Rs.1,250/- (inclusive of Service Tax) (Rs.750/- for students)

FREE FOR CORPORATE MEMBERS OF NIRC & FREE FOR YUVA CORPORATE MEMBERS OF NIRC | PCH:04 (PDP Hours for students: 08)

REGISTRATION:In order to make necessary arrangements, 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 online by visiting www.icsi.edu/niro or 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] (Credit Hours will be given to only those members who joins the programs upto 11.00 AM. and mark the attendance both at the beginning & conclusion of the program)

With Best RegardsCS Manish Gupta

Chairman, NIRC-ICSIMobile: 09212221110

E-mail: [email protected]

CS Monika KohliChairperson, Women Empowerment Committee, NIRC

Mobile: 9810480983E-mail: [email protected]

1st Regional Conference for Women


Article

LABOUR LAW REFORMS: NEED OF THE HOURCS Avni Jain* (3rd Winner of Research Paper Competition-2016 organized by NIRC-ICSI) E-mail: [email protected]

“Labour Law Reforms- An efficient steps towards making India fertile for Jobs and all key aspect…”India’s Prime Minister, Sh. Narendra Modi in his first speech on the eve of Independence Day on August 15, called upon global business economy to invest in the country’s manufacturing sector. The critical aspect towards revitalising manufacturing sector is to reform labour laws.

India’s past on labour laws are archaic. They are largely depended in British Laws which were framed primarily to protect the interest of the British employers and Industrialist.

Being Archaic in nature, India’s Labour laws are mess… Complying all the provisions of the labour laws in line with its heart and soul is 100% impossible without violating 10% of them… The above statement could be justified by highlighting the complications in the current labour laws. Each act has defined a separate applicability of the act. The multiple definitions of wages and workers create massive opportunities for corruption for the army of labour inspectors. The law mandates that employers confiscate 49% of payroll at source for various so-called employee benefits for low-wage workers. Since most employees can’t live on half their salary, they choose informal employment. Trade union laws are badly written and the politicization of trade unions and criminalization of politics are a toxic combination.

PAST EXPERIENCE:Labour and labour related issues are not new to India. All the sectors of Indian economy have been affected by labour disputes and unrest. India had been a country with largest number of labour disputes for years. Maruti Suzuki lockout in Gurgaon, Regency Ceramics plant lockout in Yanam, Andhra Pradesh. The two cases have taken lives of Management people.

In Bombardier Transportation at Savli Plant in Gujarat, The labour unrest at the Savli plant of Bombardier turned into one of the longest strike in the two decades history of Gujarat as around 150 workers protested at the plant since June 3 2013 against the transfer of 34-odd workers to Delhi by the company’s management. They were required to work on same projects (as at savli) and given additional daily allowance of Rs 900.

In Reliance Textile Industry at Naroda, on 2nd February 2012, Reliance Textile workers had been on strike due to highly exploitative wage structure and dreadful working conditions. They formed a new, independent union as the most of approx 1100 permanent and approx. 4000 contract workers assert their rights and continue their strike which started from the second shift on 2nd February 2012.

Hitachi Home & Life Solutions (India) Ltd (HHLI), a subsidiary of Hitachi Appliance Inc, a Japanese company, opened a new plant for manufacturing air conditioners at kadi on 28 August 2009.However on 4 July 2012 worker took out a rally in Ahmedabad to protest against their alleged exploitation. This 27 days strike was to protest against the low wages and firing of worker. The demands made by the striking workers also included privilege leaves and equal wages as for contract workers that of permanent workers.

LABOUR REFORMS: NEED OF THE HOURThe complexities of labour laws is the major reason for its reform. The British legislation enacted so far with major amendments are merely on the paper (or paper legislations) and have never been enacted practically by the employers which resulted as a major reason for loss of employees as a whole.

There are several practical issues in this aspect:

Labour disputes have always happened due to the lack of trust of the employee in the employer. It can be due to the vested interests of a few people in the trade unions, bad employee-employer relation and lack of proper communication between the management and labourers. The major cause of unrest or protest has risen from the fact that the companies does not allow the formation of labour unions. As can be seen in the case of Rico Auto incident which happened in October 2009, it all started when the company expelled 17 people on grounds of discipline, who are believed to be victimized for helping form trade unions in the company. The labour strike lead to violent protests and confrontations between employees and finally ended up in the death of an employee. Even the Maruti Gurgaon plant issue also had similar problems of trade unions where company was against formation of trade unions.

Health Hazards also contributes to labour unrest. Also, poor working conditions which are faced by the employees. The atmosphere is unhygienic and the employers do not take sufficient steps to preserve their safety.

Another major cause is the low wage issue. While all laws are aimed at protecting the interests of the workers, it does not always happen so. One law which protects the workers indirectly paves way to some other practice by the employer. For example, there are strict regulations regarding the wages, rights and other facilities which are applicable to permanent employees. To avoid giving them, companies prefer to employ more contract labourers. Thus law which should protect workers does not always do so. Wage inequality has been the major cause of labour unrest in Maruti plant in Manesar.

Another cause of many industrial disputes is the unfair and ill treatment of workers

by the employees. It happens not only in case of wages, but also in the nature of work and facilities provided. In Manesar plant, the work was so hectic that they hardly got time to go to toilet In between. They were given too short breaks. The pressure on them was so high. They were penalized heavily for late comings and absenteeism. The facilities provided to the workers was also inadequate as per the laws. They worked harder every day to increase the productivity of the plant, but they were not paid as per the work. Half the work force was employed to do the work than the actual requirement.

The other cause is the changing economic environment. Consumerisation is the slogan of the time. Aspirations of the present generation whether a daily wage contract labourer or a CEO is now comparable. This problem aggravates especially when the company makes huge profit and the workers feel the same does not penetrate

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


Articletill the lower level. They feel that they work hard (made to do double the work) to gain such profits, but they does not benefit from the profit they earned for the company. Similarity can be drawn in the incident at Graziano Trasmissioni, Noida when the CEO was beaten to death by workers who were retrenched due to a partial lock out. People are not able to accept such facts like unemployment especially in hard economic situations of rising prices. The highly competitive economic and business environment creates an insecurity and uncertainty in the minds of the employees also. This paradigm shift in the cultural background and the economic conditions also has had an impact on the labour disputes.

Another cause can be the mismanagement and failure to understand the culture of the location by the top level management. Maruti puts forward the example again. The Manesar plant issue proves that the entire machinery was a failure to anticipate such an unrest. The new MD who was a Japanese was no way able to establish a rapport with the Indian machinery. The middle level management also failed to communicate between the high level management and the labourers. So the entire machinery was in dire straits within the company. Strikes had been so frequent within the company, still they were not able to anticipate such an extreme incident. The incident also made clear the absence of a strong Industrial Relations team in the organization. With the boom of the services industry, industrial relations has become a neglected space in management education. The lack of skills and expertise in the industrial relations department became clear with the Maruti incident and even with similar incidents that took place in the recent past.

Unsatisfactory solutions for labour dispute. Actually both the government and the authorities concerned are guilty of inefficient handling of strikes. Instead of finding genuine solutions to reform the condition of the workers, they make the strike a prestige issue. As a result of unsatisfactory solutions of strike, the trouble is temporarily suppressed but it rises its ugly head again with greater force.

INITIATIVES TAKEN SO FAR:

“Shramev Jayate (labour triumphs) has the same power as Satyamev Jayate (truth triumphs) does for the development of our

nation.” Labour problems, must be seen through the eyes of the shramik (worker) not industrialists.”

The concept of SMART city initiated by Modi Government is a far step ahead towards labour reforms. SMART CITY has no such universally accepted definition. It has a vision of providing core infrastructure and decent quality of life to its citizens, a clean and sustainable environment and application of SMART Solutions. The focus is on sustainable and inclusive development and the idea is to look at compact areas, create a replicable model which will act like a light house to other aspiring cities. Thus, such concept has ensure to raise standard of living of all its citizens as a whole.

Similar efforts have been made to provide benefit to the citizens as a whole. The MAKE IN INDIA campaign started by Modi Government ensures to provide entrepreneurial opportunity to all its citizens and also takes a step ahead towards Generation of Employment which will help to cater the self-sufficiency vision of all the citizens as a whole.

While the Centre has amended the Apprentices Act, 1961 and the Labour Laws (Exemption from Furnishing Returns and Maintaining Registers by Certain Establishments) Act, the Factories Act, 1948 and the Child Labour (Prohibition and Regulation) Act, 1986. The labour ministry has merged the Industrial Disputes Act, Industrial Employment (Standing Orders) Act and the Trade Unions Act into a single code for industrial relations. And thereby, the government has simplified the 50 types of forms have to be filled in. Now only need to fill a single form online. A new website,

managed by the labour ministry, will allow companies to fill forms online and raise their grievances. Right now, units for inspection are selected locally, without any objective criteria, allowing inspectors to harass unit owners and even exploit them in cases of violation of rules.

The laws and legal framework regarding the contract labour should be clear and straight forward. Bending of laws for cost cutting should be dealt by law. Contract labourers should not be considered as cost cutting elements, but as partners in the production process as any other employee of the company. ‘Equal pay for Equal Work’ should be the norm.

A Shram Suvidha Portal has been created for online services related to 16 labor laws, including administering a process of transparent and random inspections of businesses. A LIN number has been issued to nearly one million employers, enabling them to process single online filings on eight labour laws.

The services offered by ESIC and EPFO have been integrated with the e-Bis portal of the Department of Industrial Policy and Promotion to promote ease of business and limit transaction costs. Further, it is proposed to promulgate new EPFO and ESIC Acts providing more choice, increased coverage among workers and employers, and better and expanded range of services for organised sector workers. All these measures will facilitate ease of doing business while ensuring safety, health and social security of every worker.

CONCLUSION:Industry body ASSOCHAM said it complimented the

“Government for initiating the labour law reforms as it will create a conducive environment for growth of trade and Industry and bring

transparency in social security benefits to help workers.”

Freedom is the ability to make choices and those choices come from being educated, employed or employable. The labour laws are an important policy breakthrough in creating jobs that will reduce poverty and make India a fertile habitat for job creation.

The government is actively and aggressively discussing, drafting and engaging with labour groups to address their concerns. The Prime Minister himself has taken the lead in discussing the Industrial Relations Bill at a national labour forum and has assured that the reforms are not directed against labour.

The above discussion clearly indicates that All the stakeholders – the government, industrialists, labourers, society and whoever concerned should converge their thoughts and focus for the progress of the nation. And should encourage the government efforts as a whole to enter towards PROGRESSIVE SOCIETY… where EMPLOYER understands the EMPLOYEE and the POWER OF WEALTH is utilised towards the upliftment of its employees by following the principle of EQUAL PAY FOR EQUAL WORK followed by various incentives, both monetary and non-monetary.

BIBLIOGRAPHY

1. http://indianexpress.com/2. http://www.mondaq.com/https://en.wikipedia.orghttp://www.business-standard.com/http://smartcities.gov.in/


Article

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

Source: Souvenir of Two Day Northern Region PCS Conferenceheld on June 17-18, 2011, Mussoorie

Our great country India with a population of 1 billion plus, the question is, are you counting the numbers or counting on the numbers. India with its rich cultural heritage, historical background & knowledge powerhouse stands tall in the world order. Guess what !! the biggest resource at its command is its great People. It’s truly unity in diversity, the pride of India.

Seen on the micro / industry level, the scenario is no different. It’s not alone the structural capital / infrastructure which make any organization great, but primarily the intrastructure present in each of its people which makes a successful organization a force to recon with. It’s coming & working together at the core level which re defines the output. In common language we call it TEAMWORK.

TEAM – Together each one of us achieves more. Foremost first you need to appreciate the difference between a group & a team. Assembly of people together including at this venue does not become a team, it remains as a group. Each person has his/her own motive to be here. But when there is a case of a common assignment / goal to be achieved & we all come together to make it possible, it becomes a team. In a team every effort by every person makes a contribution. Thus a need for Teamwork & Teambuilding.

The responsibility & accountability today on CS Profession is immense. In the process higher standard of excellence is expected from a CS Professional not only in terms of expert advice but also in the areas of compliances, governance & other related matters. Apart from technology as an enabler tool, interdependence is imperative on other team members & outside agencies to get relevant data/ information & deliver professional services. Therefore a vital need is felt to have highly effective people skills & teamwork. Let’s see some of its guiding success principles :

It starts with you. A cheerful, confident & a happy person is always a creative force. It generates positive vibes in the environment & place of work. Your confident stance not only benefits you but your presence inspires others to perform better. It’s similar to a case of an oil tanker which not only has the capacity to move itself but also becomes the source of power to move at least 100 more vehicles !!

Lead by example. As the saying goes : Well done is always better than well said. In any team effort people will follow your conduct more than your instructions. The problem with many is that they give a fantastic advice but set a wrong example.

Each team member deserves respect & honour. In a team all may not be equal , but all are important. Like CS Trainees may not be equal to partners in the CS Firm, but all are important. There are no extra people alive today. Every person & job assignment matters.

Trust lays a strong foundation in any relationship. The deeper your relationship, stronger would be your leadership. If you suspect a person, don’t employ him/her, but if you employ him the don’t suspect him.

Shared goals or targets ( short & long term ) in a team offers a scope for clarity of purpose, plan of action & time frame for achievement. It is said : Wherever there is a shared vision, there is no need for any supervision. World class performance is the outcome of collective world class thinking & synergy effect.

Cheer Leader, become one. Praise / Appreciation is the biggest incentive you can offer anyone in the team. This raises the self esteem of the person. It is your primary goal to build people who will ultimately build the firm. Become a “ CPO ”( Chief Passion Officer ) & all would love to be in your firm.

For achieving higher quality standards at work & that too consistently over a long period of time, you need to develop a team of long distance runners giving them ample opportunity to grow, express their ideas, be creative & take decisions independently. Observe the classic example of teamwork of the “ V ” formation which the birds take while flying a long distance of more than 2,500 km across the continents in winters from the colder regions of the North Pole to the Plains of India.

Once our focus shifts from “ I ” to “ WE ” miracles start happening. It’s a new beginning.

All of us are better than one of us.Happie Learning

BUILDING EFFECTIVE TEAMSMr. Suneel Keswani, Corporate Trainer


Article

In a rapidly changing economy, industrial environment and emergence of the need for corporate governance and ethical business practices of voluntary disclosures, role of a practicing company secretary has also changed swiftly. PCS has become a crucial player. The stakeholders are becoming vigilant towards the compliances. It is the prime duty of a professional to meet the expectations of the stakeholders at any given point of time.

This is challenging.

To meet the expectation and to survive cut- throat competition, moulding, changing and upgrading oneself is a must. For stability as well as growth one needs to join hands with professional fraternity and have synergy.

Synergy is possible by way of establishing big firms, putting mind, hand and intelligence together. Such flow of synergies would enable the PCS community as a whole to grow big, achieve higher goals and maintain highest degree of quality which otherwise one would not be able to achieve as a sole proprietor.

Before we talk about big firms let us understand the features of being in practice.

Decision whether to join a company as whole time secretary or to start one’s own practice itself is a tough decision to make.

Reasons why it is tough:

1. Irregular Cash flows

2. Capital investment. ( Fixed as well as Working )

3. No limit on working hours , clients expect PCS to be available 24*7

4. No work no pay—more work more pay —is a rule

5. Need to continuously update oneself.

6. No body to protect your mistakes, PCS is directly exposed to all kinds of acts of omission &commission.

7. Has to create his own infrastructure - right from acquiring office premises, PCs, Computernetworking, Office furniture, Hardware, software, its maintenance.

8. Has to have staff, their appointments, promotions, incentives, salaries, HR management.

9. Can not directly or indirectly solicit clients.

10. No pension, No PF, No gratuity, No perquisites, No fringe benefits.

11. Does not get chauffeur driven car, air conditioned cabin, support staff on day one.

12. May not afford air travel or even train travel in first class, on the first day.

13. No paid leave, no Leave travel concession, No casual leave, No sick

leave

14. Encroachment on family time.

15. Has liberty to do social work, pursue hobbies, watch cricket match during office hours (but go tothe office next day early morning)

Having once decided to be in practice, the next tough decision is whether to be a proprietor or a partner?

Certain features of the two forms are summarized below

No. Firm with several partners

Proprietor

1 Various avenues of practice, un-trodden areas can be explored.

Likely to get restricted to the "Routine" procedural matters.

2 K n o w l e d g e m a n a g e m e n t becomes easier as partners can help each other in their respective areas of expertise.

Knowledge management becomes difficult being the only person. No other person is available to support /guide. Keeping track of latest developments, case law, notifications, circulars becomes a daunting task.

3 Inherent Risks associated with the practice are shared with others.

Risk bearing has to be shouldered by one person. No one available to share the risks.

4 Several partners can render multi-dimensional services.

Difficult for a single individual to provide multiple services say under VAT, Service Tax, Excise, Income Taxes, FEMA along with Company Law .

5 Partners inter-se should have full faith & trust

The question does not arise.

6. Frequencies of the partners should match. It is desirable that their family background, culture, political thinking should be more or less similar.


7. Freedom of decision making getsrestricted.

The question does not arise.Proprietor is his own master. No needto consult others

8. All partners should be mentallyprepared to share revenues.

The question does not arise.Proprietor is his own master. No needto share revenues.

ESTABLISHMENT OF A FIRM OF PCS - A CHALLENGING TASK

CS Mahesh Athavale, Past President-ICSI

*Source: Souvenir of Two Day Northern Region PCS Conferenceheld on June 17-18, 2011, Mussoorie


Article9. One is responsible to

the wrongs & liabilities of his partners


10. There should not be communication gap inter-se


Possible side-effects of growing big

While growing in size there is always a possibility of losing old clients due to increase in volume of work and consequential reduced personal interaction.

Deterioration of quality is possible with increase in quantity / volume.

When one is at the nascent stage one naturally devotes more time even for small work / small client. However as the volume increases one has to delegate the work which in turn affects the quality of service.

Let us not forget the possibility of getting sued for deficiency of services under the Consumer Protection Act.

Why mega Firms ?

There is a huge demand and scope for a multifunctional firm, where several services are provided under one roof. From the tentative statistics available it appears that throughout India there are only fifteen firms of PCS which have more than three partners and there is a huge scope as well as need for building mega firms.

Unless we have mega firms, we may not get bigger assignments and further exclusive recognitions for PCS.

Benefits of Mega Firm:

1. Venturing into new areas of practice becomes possible.2. Each partner can choose an area for specialized knowledge.3. Team Work - hence standard procedures and drafts can be

developed.4. Sharing of risks1. Bigger clients especially, MNCs get attracted. They get comfort

about availability of at least oneof the partners, if they are dealing with a firm rather than an individual.

5. Overheads get distributed2. By appropriate revenue sharing model a PCS who himself may not

have subject expertise canget a share from the assignments of that subject being executed by others.

6. Credibility of the firm and brand gets established in long term.9. Senior partners can concentrate on critical assignments which

obviously are more lucrative.

Risks of being big :1. Lack of understanding and multiplicity of directions to the staff

could be disastrous.2. More cost on infrastructure and technology.3. Dominance of senior partners over the younger partners.4. Defining exit route is difficult.5. Lack of transparency may lead to disputes.6. If crack develops in mutual faith & trust, very difficult to cure.7. Communication gap between partners

External challenges:1. Creating and Managing Hi-tech & High cost Infrastructure: This is

the biggest constraint for evena well settled practitioner. In the

modern era the technology is changing every day andtherefore to keep pace with the same one needs to have adequate funds to create and supportinfrastructure at every point of time.

2. Working Capital Management: Working capital is just like a blood flow in a human body. Clientsdo not necessarily pay in time.

3. Managing Irregular Income and Client Turnover

4. HR Management - Attrition & staff training: Preventing a well trained person from leaving theorganization

5. Designing Office Management System Tools

6. Professional and Segment wise Knowledge Management:

7. Net Working for Neat Working

8. Corporatization of Practice

9. Marketing (perhaps the wrong word) Website vis a vis Code of Conduct: Need for appropriate balance. All of us are bound by the guide lines issued by our institute for ethical practice.

10. Creating Brand - It affects the personality of a product, company or service. One can create itsown brand only by giving a consistent quality of services over a period of time. Establishedbrands can fetch high value.

Challenges from the Governments, Authorities etc:The government has already started deliberately delegating the compliance management to the professionals. e.g. the recent changes in DIN process, implementation of system approval regime through which the system directly approves the forms certified by professionals, the recent name availability guidelines etc. Now it has become imperative for the professionals to upgrade the proficiency level and maintain the quality.

Challenges from the other professionals:The other professionals being larger in number, have established themselves over decades and have been taking the nibble of our profession. PCS do not have many exclusive recognitions. Thus perhaps the solution lies in establishing synergy - both vertical and horizontal, with other professionals.

Conclusion:Beginning a task which is out of one’s reach, is the first sign of intelligence. Completing the task undertaken is the ultimate sign of intelligence. One such task is the establishment of PCS Firm and that too a mega firm. Have vision and foresight and reach the pinnacle of success!


Compliance Checklist

COMPLIANCE CHECKLIST FROM 10th NOVEMBER TO 10th DECEMBER, 2016

S. No.

Activities Sections/Rules/ Clauses, etc.

Acts/Regulations etc. Compliance Due Date

To whom to be submitted

Central Excise Related Compliance 1 Filing of Return of Central Excise and Cenvat Credit

for the month of October, 2016 (Form No. ER-1) (Non SSI Units)

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

10th November

Central Excise Authorities

2 Monthly Excise return by EOU for the month of October, 2016 (Form No. ER-2)

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


3 Monthly Return of information relating to Principal Inputs (October, 2016) (Form No. ER-6)

Rule 9A CENVAT Credit Rules, 2004 10th November


4 Annual Financial Information Statement (Form No. ER-4)

Rule 12(2) Central Excise Rules, 2002 30th November


5 Last Date for payment of Excise Duty Non SSI units (November) *(in case of Payment through Internet banking)

Rule 8 Central Excise Rules, 2002 05th December

*06th December


6 Filing of Return of Central Excise and Cenvat Credit for the month of November, 2016 (Form No. ER-1) (Non SSI Units)

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

10th December


7 Monthly Excise return by EOU for the month of November, 2016 (Form No. ER-2)

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


8 Monthly Return of information relating to Principal Inputs (November, 2016) (Form No. ER-6)

Rule 9A CENVAT Credit Rules, 2004 10th December


Service Tax Related Compliances 9 Pay Service Tax in Challan GAR – 7, collected

for the month of November 2016 by persons other than individuals proprietors and partnership firms. *(in case of Payment through Internet banking)

Section 68 Read with Rule 6

Finance Act, 1994

Service Tax Rules, 1994

05th December

*06th December

Service Tax Authorities

Income-tax Related Compliances10 Quarterly issuance of certificate of tax deducted at

source (other than salary) for the quarter ending September, 2016.

Section 203 Income-tax Act, 1961 15th November

Income Tax Authorities

11 Due date of filing return under Section 92E (Transfer Pricing) by Company Assessee

Section 139 Income-tax Act, 1961 30th November


12 Contractor’s Bill / Advertising / Professional service Bill - TDS collected for the previous month Section 194J (November, 2016)

Section 194C

Section 194J

Income-tax Act, 1961 07th December


13 Monthly payment of TCS (November, 2016 ) Section 206 Income-tax Act, 1961 07th December


14 TDS from Salaries for the previous month (November 2016)

Section 192 Income-tax Act, 1961 07th December


15 Deposit TDS from salaries for the previous month in Challan No.281 (November)

Section 192 Income-tax Act, 1961 07th December



Compliance Checklist S. No.

Activities Sections/Rules/ Clauses, etc.

Acts/Regulations etc. Compliance Due Date

To whom to be submitted

Company Law Related Compliances16 Last Date of Filing Financials Annual Return for the

financial year ended on 31st March, 2016 in Form MGT 7

Section 92 Companies Act, 2013 27th November

Registrar of Companies

RBI Related Compliances17 Reporting of actual transactions of ECB in form

ECB-2 within 7 working days (November)ECB Rules FEMA, 1999 08th

DecemberRBI through Authorized Dealer

Economic, Industrial & Labour Law Related Compliances18 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 November

Provident Fund Authorities Trustees of Provident Fund

19 File monthly return for employees leaving / joining during the month of October

(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 November

Provident Fund

Commissioner

20 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 October (Form no. 3(IF))

iii) File monthly return of members joining service during the month of October (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 November

Provident Fund

Commissioner

21 Payment of ESI contribution for the previous month

Regulation 31 Employees’ State Insurance Act, 1948 and

Employees State Insurance (Gen.) Regulations, 1950

21st November

ESIC Authorities

22 Monthly return of Provident Fund for the previous month (October) Provident funds

Paragraph 38 of Employees’ Provident Act, 1952

Employees Provident Funds and Misc. Scheme, 1952

25th November

Provident Fund Authorities

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

Paragraph 36 The Employees' Provident Funds Scheme, 1952

25th November

Provident Fund Authorities

Stock Exchange / Listing Compliance24 Furnish Financial Results– Quarterly financial

results with Limited Review Report.Reg. 33(3)(a) SEBI (Listing Obligations and

Disclosure Requirements) 2015

14th November

Stock Exchange

25 Furnish Half yearly Results with Limited Review Report for company whose debt securities and non-convertible redeemable preference shares

Reg. 52 (1) and 52 (4) SEBI (Listing Obligations and Disclosure Requirements) 2015

14 November Stock Exchange

Note : While every care has been taken in the preparation of this Compliance Check List for the Month of November, 2016, to ensure its accuracy at the time of publication, NIRC – ICSI assumes no responsibility for any errors which despite all precautions, may be found therein. Members are requested to check the latest position with the original sources before acting upon on the information published in this newsletter. Neither this Newsletter nor the information contained herein constitutes a contract or will form the basis of a contract. The material contained in this document does not constitute/ substitute professional advice that may be required before acting on any matter.

Compiled by: CS Abhishek Gupta [email protected]


Forthcoming Programs

FORTHCOMING PROGRAMS OF NIRC-ICSIDay & Date Program Topic Venue Timings Credit Hours FeeThursday10th November, 2016

Campus Placement for 245th to 250th batches of MSOP participants (on the verge of getting CS Membership*

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

10.00 AM - -

Saturday12th November, 2016

One day Seminar on the theme "Corporate Fraud – Litigation and Reporting"

Hotel Shangri-La, 19 Ashoka Road, Connaught Place, New Delhi

10.30 AM to 5 PM

04 Rs.2250/-; (Rs.1000 for students)FREE for Corporate Members of NIRC

Sunday13th November, 2016 to Saturday, the 14th January, 2017

1st Weekend Management Skills Orientation Program (WE-MSOP) - who have qualified their examinations but not able to attend 15 days long compulsory MSOP


For details, visit www.icsi.edu/niro

Tuesday15th November, 2016

Study Session

Annual Filing Auditorium, Panacea Biotec Ltd., B-1 Extn/ G-3, Mohan Co-operative Industrial Estate, Mathura Road, Nr. NTPC & Behind Mercedes Showroom, New Delhi – 110044

5.30 PM to 8.30 PM

02 -

Wednesday16thNovember, 2016

PCS Helpline Annual Filing Members may contact at Tel.No.011-49343001

4.00 pm to 5.30 p.m.

- -

Thu.-Sat.17th, 18th &19th November,2016

44th National Convention of the Company Secretaries on the theme “Powering Governance – Empowering Stakeholders CS – The Governance Professional”

Mahatma MandirConvention Centre,Gandhinagar, Gujarat

For details, visit www.icsi.edu


One day Workshop

Valuation - Approaches & Methods


10.00 AM to 5.00 PM

04 Rs.400 /-(upto18.11.16); Rs.500/-; FREE for YUVA Corporate Members of NIRC


Study Session for students


5 PM to 8 PM - -

Sunday20th November, 2016

Airtel Delhi Half Marathon 2016 - Great Delhi Run

For already Registered Members only, for details, visit www.icsi.edu/niro

Wednesday30th November, 2016

PCS Helpline Delisting of Securities and Dissemination Board

Members may contact at Tel.No.011-49343001

4.00 pm to 5.30 p.m.

- -

Saturday3rd December, 2016

Study Session for students


5 PM to 8 PM

- -

Saturday3rd December, 2016

1st Regional Conference for Women on the theme “Women in Leadership Roles ‐ Challenges and Success Mantras”

NDMC Convention Centre Auditorium (Opposite Jantar Mantar) Connaught Place, Near Parliament Street, New Delhi

10.00 AM to 3.30 PM

04 (PDP Hours for students: 08)

Rs.1,250/- (inclusive of Service Tax) (Rs. 750/- for student):FREE FOR CORPORATE MEMBERS OF NIRC & FREE FOR YUVA CORPORATE MEMBERS OF NIRC

Monday5th December, 2016 to Friday9th December, 2016

Special Classes on GST ICSI-NIRC Building, 4, Prasad Nagar Institutional Area, New Delhi

5.30 pm to 8.30 p.m.

- Rs.750/- (inclusive of Service Tax)

*Members are requested to kindly arrange at least one Company / Firm of Practicing Company Secretary /Consultancy firms/Law firms/Financial Institution to participate in the Campus Placement and recruit MSOP participants/Trainees.

For details visit: www.icsi.edu/niro


NIRC organised the following programs:

Date Program Chief Guest/speakers Present

03.10.2016 Valedictory Session of 245th Management Skills Orientation Program (MSOP) held at Lucknow

- CS Ranjeet Pandey, CS Nitesh Sinha, CS Deepak Kukreja CS Geetika Keswani, CS Anuj Tiwari, CS Ajay Trivedi and participants

04.10.2016 Plantation of Sapling and Blood Donation Camp on the occasion of Celebration of CS Day

- CS Manish Gupta, CS Ranjeet Pandey, CS Satwinder Singh, CS Pradeep Debnath, CS Alka Arora, members and students

04.10.2016 Celebration of CS Day – Panel Discussion among the Past Presidents-ICSI and Motivational Talk

Panelists: CS (Dr.) G B Rao, CS O P Dani, CS Virender Ganda, CS Pavan Kumar Vijay and CS Nesar Ahmad, Past Presidents-ICSI (Moderator: CS Ranjeet Pandey, Council Member-ICSI)

Motivational Talk by: CS (Dr.) Pawan G. Agrawal, An International Motivational Speaker, Author, Educationist, Business Consultant and Successful Entrepreneur

CS Manish Gupta, CS Rajiv Bajaj, CS Satwinder Singh, CS Dhananjay Shukla, CS Pradeep Debnath, CS Monika Kohli, CS Nitesh Sinha, CS (Dr.) S P Narang, CS Harish K. Vaid, CS N K Jain, CS Yogesh Kumar Gupta, CS G P Madaan, CS Hitender Mehta, CS Deepak Kukreja, CS Alka Arora, members and students

05.10.2016 PCS Help Line on SEBI (LODR) Regulations, 2015

Facilitator/Expert: CS Arvind Kohli, Arvind Kohli & Associates, Company Secretaries

CS Manish Gupta, CS Dhananjay Shukla and CS Nitesh Sinha

07.10.2016 Valedictory Function of 246th Management Skills Orientation Program (MSOP)

Chief Guest: CS Rajan Kapur,Company Secretary, Engineers India Ltd.

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

08.10.2016 Campus Placement for Trainees - CS Manish Gupta, members/companies and Trainees

08.10.2016 Professional Development Program for students

Col. Devinder Kaisal Students of the Institute

09.10.2016 Valedictory Session of 247th Management Skills Orientation Program (MSOP) held at Bhilwara

Chief Guest: CS Shyam Agarwal, Vice-President, ICSI

CS V S Tapadia, CS Sanjana Jain, CS Nitin Mehta, CS R. K. Jain and participants.

13.10.2016 to 24.10.2016

Executive Development Program for students

Members of the Institute and other professionals

Students of the Institute

15.10.2016 Workshop on Annual Filing – Concepts & Techniques

Guest Speakers: CA Ankit Varshney, Associate, Webtel Electrosoft (P) Ltd. and CS Sharad Rajwanshi, Company Secretary in Practice

CS Manish Gupta, CS Pradeep Debnath, CS Nitesh Sinha and participants

17.10.2016 Valedictory Function of 248th Management Skills Orientation Program (MSOP)

Chief Guest: CS G. Gehani, Whole Time Director & Company Secretary, PSL Ltd.

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

17.10.2016 Inauguration of 249th MSOP organized by NIRC at Chandigarh

Chief Guest: Dr. Bhushan K Sharma, Principal, GGDSD College, Chandigarh

CS Manish Aggarwal, CS GS Sarin, CS K.V. Singhal, CS Nitin Kumar, Ms. Gunjan Sehgal and participants

19.10.2016 PCS Help Line on “Annual Filing” Facilitator/Expert: CS Swaran Kumar Jain, Company Secretary in Practice

CS Manish Gupta

NIRC ACTIVITIESNews From NIRC


News from the NIRC

LIGHTER SIDE OF THE PROFESSION“Paramjeet Singh, why you are quitting the company?” “Sir, I will lag much behind under the new policy of the company of “The Survival of the Fittest in Office”. “What is wrong with that?” “Because under that Monkeys/Monkeys like staff have a better chance of survival.” ***********“What is the change from Diwali of last year to Diwali of this year?” “Sir, the things have improved substantially.” “How?” “Sir, now the staff has started wasting time keeping productivity in mind.”

—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

21.10.2016 Inauguration of 250th Management Skills Orientation Program (MSOP)

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

CS Manish Gupta, CS Rajeev Bhambri, CS Alka Arora and participants

22.10.2016 Seminar on Cross Border Trade & Investment – Exchange Regulations

Chief Guest: Shri Tarun Singh, General Manager, Reserve Bank of India, FEDGuest of Honour: Shri Ishtiyaque Ahmed, Director, DIPPGuest Speakers: CS Atul Mittal,Director Deloitte Haskin & Sells; Shri Sunil Kumar, Director, Ernst & Young LLP and CS T R Ramamurthy, Company Secretary in Practice

CS Manish Gupta, CS Rajiv Bajaj, CS Rajeev Bhambri, CS Nitesh Sinha, CS Alka Arora and participants

25.10.2016 Inauguration of 251st Management Skills Orientation Program (MSOP)

Chief Guest: CS Dinesh Chandra Arora, Secretary-ICSI

CS Manish Gupta, CS Nitesh Sinha, CS Alka Arora and participants

29.10.2016 Diwali Pujan CS Manish Gupta, CS Monika Kohli, CS Nitesh Sinha, CS Deepak Kukreja, CS Alka Arora, Members, students and Officials of NIRO

ATTENTION MEMBERS /STUDENTSThe details of Members Programs like Seminar, Conferences, etc. and soft copies of NIRC-ICSI Newsletters & Students’ programs viz EDP, PDP, MSOP, Students Activities, such as viz Moot Court Competitions, Elocution Competition, Essay writing, Company Law Quiz and Student Conferences are regularly updated on the NIRC Portal at ICSI website.

To get updated information, Members & Students are requested to visit our following website regularly.

www.icsi.edu/niro

INVITATION FOR CONTRIBUTION OF ARTICLES & SUGGESTIONS FOR IMPROVEMENT OF CONTENTS OF

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

CAREER AWARENESS PROGRAMSNIRC has organised 15 Career Awareness Programs & during the month of October, 2016 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.


CHAPTERS OF NIRC-ICSIAgra, 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.

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].

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

FUND DURING THE PERIOD 21/09/2016 TO 20/10/2016Sr. No. LM NO. NAME MEMB NUMBER CITY

1. 11479 MR. RAJESH KUMAR MITTAL ACS - 47234 GHAZIABAD

2. 11480 MS. BHARTI CHUGH ACS - 46781 GHAZIABAD

3. 11482 MR. RAVI KUMAR ACS - 47257 NEW DELHI

4. 11483 MR. AMIT KUMAR GUPTA ACS - 34032 ALLAHABAD

5. 11484 MR. ANILYADAV ACS - 35240 ALLAHABAD

6. 11488 MS. POOJA MEHRA ACS - 40249 VARANAS I

7. 11490 MR. HARI OM PANDEY ACS - 29321 GURGAON

8. 11493 MR. RAKESH KUMAR CHHOKER ACS - 44402 PAN I PAT

9. 11497 MS. SANDHYA GHARANA ACS - 38143 NEW DELHI

CSBF

*It gives me immense pleasure to inform that the quantum of financial assistance to the dependent(s) of the life members of CSBF has been increased from Rs. 5 Lakh to Rs. 7.5 lakh w.e.f. 1st January, 2017 in the unfortunate event of the death of the life member. I would hence strongly urge members to become a life member of the CSBF by seizing this opportunity by making a onetime online/offline payment of Rs. 7,500 before the subscription increases to Rs. 10,000 effective from 1st January, 2017


CSBF

CS MANISH GUPTAChairman09212221110

*It gives me immense pleasure to inform that the quantum of financial assistance to the dependent(s) of the life members of CSBF has been increased from Rs. 5 Lakh to Rs. 7.5 lakh w.e.f. 1st January, 2017 in the unfortunate event of the death of the life member. I would hence strongly urge members to become a life member of the CSBF by seizing this opportunity by making a onetime online/offline payment of Rs. 7,500 before the subscription increases to Rs. 10,000 effective from 1st January, 2017

*

*


FINANCIAL ASSISTANCE SCHEME TO THE STUDENTS UNDER ECONOMICALLY WEAKER SECTION (EWS)

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

FOR FOUNDATION PROGRAMME ELIGIBILITY CRITERIA The candidate should –

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

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

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

simultaneously for pursuing the Oral Tuition classes

FOR EXECUTIVE PROGRAMME ELIGIBILITY CRITERIA The candidate should —

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

first attempt, without claiming exemption in any paper OR

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

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

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

FOR PROFESSIONAL PROGRAMME ELIGIBILITY CRITERIA The candidate should —

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

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

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

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

simultaneously for pursuing the Oral Tuition classes

NUMBER OF AWARDS OF ASSISTANCEFor Foundation Programme :- The Maximum number of Fee concession for the foundation programme is 25 per session or 50 in a year

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

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

Fee Concession in OT Classes organized by NIRO75% FEE CONCESSION & 85% FEE CONCESSION

for *MERITORIOUS STUDENTS OF ECONOMIC WEAKER SECTION*Meritorious students

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

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

For Executive Programme ELIGIBILITY CRITERIA Examination Minimum marks Foundation Programme examination

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

For Professional ProgrammeELIGIBILITY CRITERIA Examination Minimum marks Executive Programme examination

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

REQUIRED DOCUMENT � Attested copies of certificates and mark-sheets in support of his/her

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

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

Food Security Card.

CANCELLATION OF GRANT OF FEE CONCESSIONThe concession provided to a candidate may be recovered, withdrawn or cancelled, at the discretion of the NIRC of ICSI, if subsequently it is found that the candidate :

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

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

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

Financial Assistance Scheme


Half Yearly Yuva Corporate Membership

HALF YEARLY YUVA CORPORATE MEMBERSHIP OF NIRC-ICSI FROM OCTOBER, 2016 TO MARCH, 2017 FOR YOUNG MEMBERS

The Half Yearly YUVA Corporate Membership Scheme for young members of NIRC of ICSI is open for members of the Institute from Northern Region who have awarded the membership on or after 1st January, 2014 is open for the Financial Year 2016-17 (October’16 to March’17). Only First 100 members will be enrolled for the Half Yearly YUVA Corporate Membership Scheme. Anyone becoming a member under the Scheme shall be entitled to the following benefits:

Separate Programs will be organised under this Scheme at NIRC - ICSI Auditorium only.

� To attend all the paid programs as may be organised by NIRC for Young Members by self only (Except workshop and residential programs) at NIRC Auditorium, ICSI-NIRC Building free of charge throughout the financial year 2016-2017(October’16 to March’17).

� Minimum 06 Programs will be organised under this Scheme on the topic of Professional interest and soft skills. � Credit hours will be given to only those members who joins the program upto 10.30 a.m. � Presentation made by the speakers of all programs will be shared. � Half Yearly YUVA Corporate Members will be provided with Annual Legal & Compliance Referencer - 2017 and will

also be invited in New Year Celebration and Dinner free of cost. The fee structure for the Half yearly corporate membership for young members for financial year 2016-17 (October, 2016 to March, 2017) is

as under :

Particulars Amount (Inclusive of Service Tax) (Service Tax Registration No.AAATT1103FSD005)(PAN NO.AAATT1103F)

For Members including PCS Rs.2,000/-

I request you to kindly enroll for Half Yearly YUVA Corporate Membership Scheme for the year 2016-17 (October, 2016 to March, 2017) at the earliest.

The payment for Half Yearly YUVA 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 Online payment through link : www.icsi.edu/niro

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: Bank and online gateway Charges will be additionally paid by the user and Transaction ID alonghwith details to be mailed to [email protected] and [email protected] and CC to [email protected] and [email protected]

With best wishes, Yours sincerely,CS MANISH GUPTAChairman, NIRC-ICSI Cell: [email protected]



Half Yearly Corporate Membership

The Half Yearly Corporate Members will be provided with Annual Legal & Compliance Referencer - 2017 and will also be invited in New Year Celebration and Dinner free of cost. Further, concessional fee will be charged from the Half Yearly 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 Half Yearly Corporate Membership from October, 2016 to March, 2017 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 DelhiOption 2- NEFT transfer to NIRC- ICSI Saving Bank Account No. SB- 90062010039267Syndicate Bank, East Patel Nagar, New Delhi – 110008, RTGS/ NEFT IFSC – SYNB0009006Option 3 Online payment through link :-www.icsi.edu/niroOption 4 Cheque/DD towards the Half yearly 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: Bank and online gateway Charges ;./will be additionally paid by the user and Transaction ID alonghwith details to be mailed to [email protected] and [email protected] and CC to [email protected] best wishes,Yours sincerely,CS MANISH GUPTAChairman, NIRC-ICSI Cell: [email protected]

HALF YEARLY CORPORATE MEMBERSHIP OF NIRC-ICSI FROM OCTOBER, 2016 TO MARCH, 2017

The Half Yearly Corporate Membership Scheme of NIRC of ICSI is open for the Financial Year 2016-17 (October’16 to March’17). Anyone becoming a member under the Scheme shall be entitled to the following benefits:

Half Yearly Corporate Membership Scheme – Option-I (Delhi)

Half Yearly 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 from October, 2016 to March, 2017.

� Minimum 06 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 11.00 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. Particulars Amount

(Inclusive of Service Tax)(Service Tax Registration No. AAATT1103FSD005)(PAN NO.AAATT1103F)

For Members Rs.6,000For PCS Rs.5,500For Non-Members Rs.6,500For Senior Citizens Rs.5,000

� 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 from October, 2016 to March, 2017.

� Minimum 06 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 11.00 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 sharedParticulars Amount (Inclusive of Service Tax)

(Service Tax Registration No. AATT1103FSD005)(PAN NO.AAATT1103F)

For Members Rs.8,000For PCS Rs.7,500For Non-Members Rs.8,500For Senior Citizens Rs.6,500



Workshop

Workshopon

VaLuaTion - appRoaCheS & MeThodSon

Saturday, 19th November, 2016(Registration starts at 9.00 AM)

From

10.00 am to 5.00 pmat

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

Fee:Fee : Rs.400/- per delegate who deposit their fee by 18th November, 2016Rs.500/- per delegate who deposit their fee after 18th November, 2016 subject to availability of

seats. (inclusive of service tax and including Corporate Members of NIRC of ICSI)

Online Payment Facility AvailableFREE FOR MEMBERS OF YUVA CORPORATE MEMBERSHIP SCHEME OF NIRC

PROGRAM CREDIT HOURS: 04Registration:

In order to make necessary arrangements, Maximum seats will be restricted to 125. Members are requestedto deposit the requisite fee well in advance with NIRC-ICSI, 4, Prasad Nagar Institutional Area, New Delhi. Thefee may be paid online by visiting www.icsi.edu/niro or through cash/cheque

in favour of NIRC of ICSI whichmay be deposited at NIRC-ICSI Office. Tel.:+91-11-49343000, E-mail: [email protected]

MEMBERS ARE REQUESTED TO PARTICIPATE IN LARGE NUMBERS

With best regards,CS Manish Gupta

Chairman, NIRCMobile: 09212221110


CS Nitesh Kumar SinhaChairman, Prof. Dev. &

Programs Coordination Committee, NIRC-ICSIMobile: 9871500827 | E-mail: [email protected]




on Saturday, the 12th November, 2016

Registration: 9.00 AM onwards (Program will be from 10.30 AM to 5.00 PM) at

Hotel Shangri-La, 19 Ashoka Road, Connaught Place,

(Near Patel Chowk Metro Station), New Delhi 110001

CORPORATE FRAUD – LITIGATION AND REPORTING

Seminar on

Fee:Rs.2250/- per delegate inclusive of service tax, (Rs.1,000/- for students);

FREE for Corporate Members of NIRC 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. The fee may be paid online by visiting www.icsi.edu/niro or 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]

PROGRAM CREDIT HOURS: 04/PDP Hours:08(Credit Hours will be given to only those members who joins the programs upto 11.00 AM. and mark the attendance both at the beginning & conclusion of the program)

With Best RegardsCS Manish Gupta

Chairman, NIRC-ICSIMobile: 09212221110


CS Nitesh Kumar SinhaChairman, Prof. Dev. &

Programs Coordination Committee, NIRC-ICSIMobile: 9871500827 | E-mail: [email protected]

CS U K ChaudharyPast President-ICSI &

Senior Advocate

CS G P MadaanPast Chairman, NIRC-ICSI &

Madaan Law Offices, Advocates & Solicitors

Shri Pavan Duggal*Cyber Law Expert and

Advocate

CS M. Sathya KumarChennai

*Confirmation awaited.

Topic: Corporate Fraud - Recent

Trends & Remedies along with Case Studies

Topic: Offences, Adjudication,

Compounding including Special Courts & Class Action Suits

Topic: Cyber Crimes -

an Increasing trend

Topic: Reporting of Fraud:

A Professionals Responsibility

Seminar


Images

3 Valedictory Function of 246th Management Skills Orientation Program (MSOP) – 7.10.2016: Sitting from L to R CS Pradeep Debnath, CS Manish Gupta, Chief Guest: CS Rajan Kapur, (Company Secretary, Engineers India Ltd.), CS Nitesh Sinha and CS Alka Arora. Dr. Bhole Shankar Sikhwal and best participants/best project report participants standing.

5 Diwali Pujan (29.10.2016): CS Manish Gupta, CS Monika Kohli, CS Nitesh Sinha, CS Deepak Kukreja, CS Alka Arora, members, officials of NIRO, students performing Diwali Pujan.

7 Inauguration of 249th Management Skills Orientation Program (MSOP) at Chandigarh – 17.10.2016: Group photograph of participants alongwith Chief Guest: Dr. Bhushan K Sharma,Principal, GGDSD College, Chandigarh, CS Manish Aggarwal, CS GS Sarin, CS K.V. Singhal, CS Nitin Kumar and Ms.Gunjan Sehgal.

4 Valedictory Function of 248th Management Skills Orientation Program (MSOP) – 17.10.2016: Sitting from L to R CS Nitesh Sinha, CS Manish Gupta, Chief Guest: CS G. Gehani (Whole Time Director & Company Secretary, PSL Ltd.), CS Pradeep Debnath and CS Alka Arora. Dr. Bhole Shankar Sikhwal and best participants/best project report participants standing.

6 Installation of a 24 Hours ATM Machine(29.10.2016): CS Manish Gupta, CS Monika Kohli, CS Nitesh Sinha, CS Deepak Kukreja, CS Alka Arora, members, Official of NIRO and students seen.

8 Valedictory Session of 247th Management Skills Orientation Program (MSOP) held at Bhilwara – 9.10.2016: Group photograph of participants alongwith Chief Guest: CS (Dr.) Shyam Agrawal (Vice-President-ICSI), CS V S Tapadia, CS Sanjana Jain, CS Nitin Mehta and CS R. K. Jain.

1 PCS Help Line on SEBI (LODR) Regulations, 2015 (5.10.2016): CS Arvind Kohli, Company Secretary in Practice replying to queries of members in the presence of CS Manish Gupta, CS Dhananjay Shukla and CS Nitesh Sinha.

2 PCS Help Line on Annual Filing (19.10.2016): CS Swaran Kumar Jain, Company Secretary in Practice replying to queries of members in the presence of CS Manish Gupta.

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08-09.11.201605.11.2016

2 Celebration of CS Day – Plantation of Sapling (4.10.2016): CS Manish Gupta, CS Satwinder Singh, CS Pradeep Debnath, CS Alka Arora, members and students seen after plantation of sapling.

4 Workshop on Annual Filing – Concepts & Techniques (15.10.2016): L to R CS Nitesh Sinha, CA Ankit Varshney (Associate, Webtel Electrosoft (P) Ltd.), CS Manish Gupta, CS Sharad Rajwanshi (Company Secretary in Practice) and CS Pradeep Debnath.

3 Celebration of CS Day – Blood Donation Camp (4.10.2016): CS Manish Gupta, CS Ranjeet Pandey, CS G P Madaan and others seen after donating the blood.

1 Seminar on Cross Border Trade & Investment – Exchange Regulations(22.10.2016): L to R Shri Tarun Singh (General Manager, Reserve Bank of India, FED), Shri Ishtiyaque Ahmed (Director, DIPP), CS Atul Mittal, Shri Sunil Kumar and CS T R Ramamurthy addressing.

5 Inauguration of 250th Management Skills Orientation Program (MSOP) – 21.10.2016: Group photograph of participants alongwith Chief Guest: CS (Dr.) Shyam Agrawal (Vice-President-ICSI), CS Manish Gupta, CS Rajeev Bhambri, CS Alka Arora and Dr. Bhole Shankar Sikhwal.

6 Inauguration of 251st Management Skills Orientation Program (MSOP) – 25.10.2016: Group photograph of participants alongwith Chief Guest: CS Dinesh Chandra Arora (Secretary-ICSI), CS Manish Gupta, CS Nitesh Sinha, CS Alka Arora and Dr. Bhole Shankar Sikhwal.

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Documents

NIRC - ICSI Newsletter | November 2016