37 icsi - sirc annual report of...ca chinnasamy ganesan, chennai cs sriram p, chennai cs seema rath...

‘ICSI - SIRC House’, No. 9, Wheat Crofts Road,

Nungambakkam, Chennai - 600 034.

Phone : 044 - 28279898, 28268685

E-mail : [email protected]

2016 - 2017

th

37 ANNUAL REPORT OFICSI - SIRC

th

37 ANNUAL REPORT OFICSI - SIRC

"To be a global leader in promoting

Good Corporate Governance"

"To develop high calibre

professionals facilitating good

Corporate Governance"

ICSI Motto

ICSI VISION ICSI MISSION

Office“ICSI-SIRC HOUSE”

No.9 Wheat Crofts Road

Nungambakkam

Chennai 600 034

Phones : 28279898, 28268685

E-Mail : [email protected]

Central Office‘ICSI HOUSE’,

22 Institutional Area

Lodi Road, New Delhi 110 003

Phones : 45341000 / 41504444

Fax : 011-24626727

E-Mail : [email protected]

Web : www.icsi.edu

Auditors

Internal AuditorsK GOPAL RAO & CO

Chartered Accountants

New No. 21, Old No. 9/1,

Moosa Street,

T Nagar, Chennai 600 017

Bankers

Chairman

Vice-Chairman & Treasurer

CS Ganapathi G.M.

Secretary

CS Ramakrishna Gupta R.

CS Mohan Kumar A.

COUNCIL MEMBERS

Elected : Central Council

Co-opted

Joint Secretary

Sarah Arokiaswamy (Ms.)

th37 Annual Report of Southern India Regional Council of the ICSI - 2016-2017

37th Annual Report of ICSI - SIRC 2016-2017

2

M/s. Ford Rhodes Parks & Co. LLPChartered Accountants E1 & E2, Sakthi Towers - 3, Sixth Floor,766, Anna Salai, Chennai 600 002.

Elected: Regional Council

CS Sivakumar P

CS Nagendra D Rao

CS Shastry P.S.

CS Dhanapal S

CS Ahalada Rao V.

CS Gopalakrishna Hegde

CS Ramasubramaniam C.

ICICI Bank Ltd.

Chennai 600 034

HDFC Bank Ltd.

Chennai 600 010

UCO BANK

Chennai 600 034

Shri S B Gautam

Shri S. Krishnan, IAS

3

By order of the Regional CouncilPlace : Chennai

Date : 09.05.2017

NOTICE

NOTICE IS HEREBY GIVEN that the 37th Annual General Meeting of the Members of

ICSI under the jurisdiction of the Southern India Regional Council of the Institute of Company

Secretaries of India will be held at its Southern India Regional Office (SIRO) at Dr. A.C. Muthiah

Conference Hall, ICSI-SIRC House, No.9 Wheat Crofts Road, Nungambakkam, Chennai 600 034

on Monday, the 31st July 2017 at 6.00 p.m. to transact the following business:

1) To receive, consider and adopt the audited accounts for the Financial Year ended

31st March 2017 together with the Report of the Regional Council and Auditor's

Report thereon.

2) To appoint M/s. Ford Rhodes Parks & Co. LLP, Chartered Accountants, Chennai as

Auditors and to fix remuneration for the financial year 2017-18.

Please make it convenient to attend the meeting.

CS MOHAN KUMAR A

Secretary

ICSI-SIRC : ‘ICSI-SIRC House’, No. 9, Wheat Crofts Road, Nungambakkam, Chennai - 600 034.Phone : (044)-28279898, 28268685 ; E-mail : [email protected]

Head Office : ‘ICSI House’, 22, Institutional Area, Lodi Road, New Delhi 110 003.Phone : (011)-4534 1000 / 4150 4444 ; E-mail : [email protected] ; Website : www.icsi.edu


4

THE INSTITUTE OF COMPANY SECRETARIES OF INDIA

SOUTHERN INDIA REGIONAL COUNCIL

ICSI-SIRC House, No.9 Wheat Crofts Road, Nungambakkam, Chennai 600 034

th st 37 Annual Report of the Regional Council for the year ended 31 March, 2017

To The Members of ICSI Southern India Regional CouncilInstitute of Company Secretaries of IndiaChennai

Dear Members,

We have great pleasure in presenting the 37th Report of the Southern India Regional Council of

The Institute of Company Secretaries of India together with the audited accounts for the financial year

from 1.4.2016 to 31.3.2017.

The ICSI-SIRC during the year under review organized a number of Professional Development

Programs to build the capacity of members to venture into new areas of practice as well as for members

in employment. The Regional Council focused its attention on the development of students by giving

them valuable academic inputs and organizing programmes to enable them to clear the examinations

with confidence. We have detailed hereunder some salient features pertaining to growth and

development of the profession in Southern Region and also programmes and activities held during the

period under review.

1] Members Strength – Southern Region

As on 31.3.2017, out of total membership of 8104 in the Southern Region 1666 were Fellow

Members and 6438 were Associate Members. There were 1711 members possessing Certificate of

Practice in the Region. There are 3504 CSBF Members in Southern Region as on 31.3.2017.

2] Members Activities

Professional Development Programmes

During the period under review, a number of Professional Development Programmes were

organized as per the details given hereunder:

1

2

3

4

5

Study Circle Meeting

Full Day Seminar

Half Day Seminar

Special Programmes

41st Regional Conference

Joint Seminars

Two Day Workshop

ICSI National Programmes

Continuing Education Programmes

10th Regional PCS Conference

13

3

9

13

1

6

7

8

9

10

3

1

1

6

1

Sl.No.

Particulars of the programme Number ofprogrammes

Sl.No.

Particulars of the programme Number ofprogrammes


5

a] 41st Southern India Regional Conference of Company Secretaries:

The 41st Regional Conference of SIRC was held on 14-15, October 2016 at Ramada Cochin Resorts, Kochi. The Chief Guest Dr. K N Raghavan IRS, Commissioner of Customs, Kochi, Kerala inaugurated the 41st Regional Conferences of Company Secretaries on the theme “CS-Rewarding Avenues- Reaping benefits:Growing by Leaps and Bounds”. CS Nagendra D Rao, Immediate Past Chairman and CS Sivadasan A, Past Chairman, ICSI-SIRC were felicitated for their contribution to the profession. Commemorating the 41st Regional Conference a souvenir was released by the Chief Guest at the inaugural session. Hon'ble Justice Jayasankaran Nambiar A K, High Court of Kerala was the Chief Guest at the Valedictory session and delivered the Valedictory address. Special Address was delivered by Dr. T M Thomas Isaac, Hon'ble Minister of Finance, Government of Kerala at the valedictory session. The Conference was attended by 365 delegates. The theme of the Conference was discussed in six technical sessions. Eminent speakers addressed at various technical sessions.

b] 10th Southern India Regional Conference of Practising Company Secretaries:

ICSI-SIRC organized 10th Southern India Regional Conference of Practising Company Secretaries on 5-6, August 2016 at Hotel Heritage, Madurai. The Inaugural address was delivered by Prof. S. Subbiah, Vice-Chancellor, Alagappa University, Madurai. Special address was delivered by CS Dr. Shyam Agrawal, Vice President, The ICSI. The theme of the Conference was discussed in five technical sessions. Eminent speakers addressed various technical sessions. The Conference was attended by 110 delegates. The Valedictory Address was delivered by Hon'ble Dr. Justice S. Vimala, Madras High Court.


b] Joint Programmes

SL. No.

DATE/ VENUE TOPICDetails of the CHIEF GUEST / SPEAKERS

10-11 December 2016ICSI-SIRC House, Chennai

16.12.2016Hotel Deccan Plaza, Chennai

1.

2.

3.

ICSI-CCGRT and ICSI-SIRC jointly organised Research symposium on The Companies Act, 2013 – Decoding unsolved Mysteries and impact of Amendment Bill 2016

ICSI-NSE joint Workshop on Secretarial Audit

Mentors1. CS Ramakrishna Gupta (Hyd.)2. CS Thirupal Gorige (Blore)3. CS Jitender Ahlawat ( Delhi)4. CS Krish Narayanan (Chennai)5. CS Rengarajan (Chennai)6. CS V. Karthick ( Blore)

24.03.2017ICAI Bhawan, Chennai

Joint Workshop on CorporateSocial Responsibilities with ICAI

Chief Guest:Shri. S B GautamRegional Director, Ministry of Corporate Affairs (SR)

CA Chinnasamy Ganesan, Chennai

CS Sriram P, Chennai

CS Seema RathDeputy Director, Ministry of Corporate Affairs, New Delhi.

CS Dr. Ravi BManaging Partner, B Ravi & Associates,Company Secretaries, Chennai

CS Eshwar S, Practising Company Secretary, Chennai

During the period under review, ICSI-SIRC organized 3 Joint Programmes for Members as follows:

6

SL. No.


16.04.2016ICSI-SIRC House



1.

2.

3.

Programme on Whirlwind Plenary on Evangelizing the International Corporate Governance Day

Peer ReviewersTraining Programme

Special Programme on ICSI PCS Day Celebrations

Chief Guest:

Padma Shri. Dr. K Raghavendra Rao,

Managing Director,

Orchid Pharma Ltd, Chennai

Guest of Honour:

CS Sundara Rajan M S

Former CMD, Indian Bank

CS Pradeep Ramakrishnan

Deputy General Manager, SEBI, Mumbai

CS Raju Iyer P

Council Member, ICAI, Chennai

Shri K Ravi

Advocate, Chennai

Talk Show

CS Arvind R

Company Secretary, Dr. Agrawal's Health

Care Ltd, Chennai

CS Sudhir Babu C

Practising Company Secretary, Hyderabad

CS V. Sreedharan,

Practicing Company Secretary, Bangalore

CS S. Eshwar,

Practicing Company Secretary, Chennai

CS Babu Sankarasubramaniam V

Practising Company Secretary, Chennai

CS Dr. Ravi B

Practising Company Secretary, Chennai

c] Special Programmes


During the period under review, the following joint programmes were held:

7

SL. No.









4.

5.

6.

7.

8.

9.

10.

International Yoga Day Celebrations

ICSI Capital Market on Transcending Horizons –Capital Market Way

Foundation Day Programme & Seminar

IndependenceDay Celebrations

Interaction Meeting with CS Sahoo MS, Chairperson of the Insolvency and Bankruptcy Board of India

Republic Day Celebrations and Programme on Ethics in Governance

Programme on UnionBudget 2017

CS Vidya SubramanianPractising Company Secretary Chennai

CS Dr. Gopalan VChartered Accountants, Gopalan & Associates,Janhar Management Consultancy P Ltd.

CA Srinivasan T RChartered AccountantG. Sekar Associates, Chennai

CS Pradeep RamakrishnanDeputy General Manager, SEBIMumbai

CS Rajendran SPractising Company Secretary, Chennai

CS Rajesh RAdvocate, Chennai

Shri S T PerumalWing Commander – Airforce(Retd), Chennai

CS Sahoo MSChairperson of the Insolvency and Bankruptcy Board of India

Shri. Sundararajan M SFormer Chairman & Managing Director, Indian Bank, Chennai

C A Banusekar TChartered Accountant, Chennai

CS Sriram BPartner, Ernst & Young, Chennai

Shri. Srinivasan IRSAssistant Commissioner of Service Tax,Chennai


8


SL. No.



25.03.2017& 26.03.2017Hotel Deccan Plaza, Chennai

28.03.2017ICSI-SIRC House, Chennai

11.

12.

13.

International Women's Day Celebrations

Tamilnadu State Conference ofCompany Secretaries for the Theme: “For things to change, We must Change” – CS the Game Changer

Program on "Sexual Harassment of Women at Workplace (Prevention, Prohibition & Redressal) Act 2013 on Tuesday, the 28th March 2017 at ICSI-SIRC

Chief Guest:Mrs. Hemalatha RajanDirector, Ma Foi Group

CS Ovia RPractising Company Secretary & Social Activist, Chennai

Dr. JananiDirector, Rexpride Training & Development, Chennai

Shri. Nilesh SharmaPartner, Dhir&Dhir AssociatesNew Delhi

CS Sriram PProwis Corporate Services, Chennai

Shri P H Arvindh PandianSenior Advocate, Chennai

CS Vijay Kumar M PChief Financial Officer Sify Technologies Limited, Chennai

CS Satyanarayanan SAdvocate, Chennai

Shri. Satish Kumar RAdvocate, Chennai

CS Shiv Shankar V NCorporate Lawyer, Chennai

Shri Vishal KediaFounder & Director, Complykaro Services Pvt Ltd.

9

3] Investor Awareness Programmes

[An initiative under the aegis of Ministry of Corporate Affairs, Govt of India]

The Regional Council conducted 11 Investor Awareness Programmes during the period under review in

Chennai as well as in surrounding areas.

4] Corporate Membership

During the period under review 109 Members enrolled under the Corporate Membership Scheme for

2016-2017.

5] Placement

The Regional Council gives utmost importance in helping the members and students to find suitable

employment under Employment Service Scheme. During the period under review, the Regional Council has

received 84 requests from corporate organizations and had sponsored 172 members. This apart, some of

the Corporates/Practising Company Secretaries have also placed their requests on the notice board of the

Regional Council.

6] Campus Placement

Campus Placement Programmes were organized by the ICSI– SIRC on 09.07.2016, 24.09.2016, 07.03.2017

and 24.03.2017 at ICSI – SIRC House, Chennai, during the period under review.

7] CS Acceleration Centre

In a bid to encourage the budding Practising Company Secretaries (PCS) for their initial Start Up and Stand

Up ventures, President, ICSI, CS Mamta Binani inaugurated the first-of-its kind CS Acceleration Centre

(CSAC) within the Institute of Company Secretaries of India premises at ICSI – SIRC House, Chennai on 8th

June 2016.

8] Nostalgia on CS Profession by CS Subbaraman T.P., Former Secretary, The ICSI

In order to show case the history of the Institute to the members, it was felt that the events and activities

which impacted genesis and growth of the profession could be chronicled in the form of a write up to be

published in SIRC e-newsletter. In order to give shape to our idea, CS Sivakumar P, Imm. Past Chairman,

ICSI-SIRC, CS Ramasubramaniam C, Council Member, ICSI have requested Shri T P Subbaraman, former

Secretary & Executive Director, the ICSI, who was one of those members who had closely associated with the

birth of the Institute and its growth during its nascent period, to contribute a series of write up on the subject

and he had readily agreed to our request for publishing from February 2016 to December 2016. Ten pieces of

his recollections right from formation of Institute of Company Secretaries in 1957 ending with conversion of the

Institute as a statutory body, from 1959-60 were published in the SIRC e-newsletter.

9] Students' Activities

I] Classroom Teaching

Classroom teaching continue to attract good number of students. Periodical feedback is obtained

from the students, so as to ensure the quality of academic inputs. The tests under the Classroom teaching are

being held under examination conditions with the help of external invigilators so as to conform with the


standard examination procedures and practices. 745 students attended the Classroom teaching and the

stage wise break up is as follows:

Foundation Programme 206

Executive Programme 405

Executive Programme (Full time) 50 (Module-I and Module-II)

Professional Programme (week-end) 84

The Regional Council continues to extend complete exemption of tuition fee to SC/ST candidates and 30

students benefited under this scheme during the year under review.

II] Crash Course

The Regional Council organized four Crash Courses on the following subjects for the June and December 2016 sessions during the period under review.

v Advanced Tax Laws and Practice

v Financial, Treasury and Forex Management

10


Session

June 2016

June 2016

December 2016

December 2016

Subject

Advanced Tax Laws and Practice

Financial, Treasury and Forex Management

Advanced Tax Laws and Practice

Financial, Treasury and Forex Management

No. of students attended

32

26

25

22

III] Model Examination

In order to equip the students to face the main examination of Company Secretaries with confidence, the Regional Council conducted the Model Examination. During the year under review Model Examinations were held for the Foundation, Executive and Professional Programme from 2nd May, 2016 to 9th May, 2016 and the total enrolment for the same was 43 students. Another set of Model Examination was held from 26th November, 2016 to 3rd December, 2016. The total enrolment for the same was 124 students.

IV] Professional Development Programmes for students:

The Regional Council conducted 11 Professional Development Programmes for students during the period under review.

V] 15 days Academic Programme

1

2

3

4

5

Sl.No.

2 days Induction program

2 days Induction program

3 days e-governance program

3 days e-governance program

5 days skill development program

Name of the program

15th and 16th September 2016

6th and 7th march 2017

14th July to 16th July 2016

28th September to 30th September 2016

24th October to 28th October 2016

Date

39

16

14

52

45

No. of Studentsparticipated

VI] Management Skills Orientation Programmes:

The Regional Council conducted 4 [FOUR] Management Skills Orientation Programmes during the period under review and 184 Students participated. Continuous feedback is obtained from the participants to ensure quality academic inputs and support extended to the participants of the MSOP.

VII] Monitoring of Training:

The training requirement prescribed by the Institute for the students is an integral part of the Company Secretaryship course and is being monitored by the Regional Council closely. As a part of this, the students are being counselled in respect of various training programmes of the institute. During the period under review, 46 companies and 60 Practising Company Secretaries for management and practical training from Southern region have been recognized and registered by the Institute for the training programmes. Efforts are on to enlist more companies for training purposes.

VIII] Performance of the students

Students of the Region continued to demonstrate their academic brilliance by winning various Regional Prize Awards as follows:

11


Executive Programme : December 2015

Name of the Winner

Ms. Nupur Birmiwal

Ms. Nupur Birmiwal

Mr. Ajay Kaushik(Co-Winner)

Mr. Asoori Varshith Asoori Varshith (Co-Winner)

Criteria Name of the Prize Award

Sirubalakkadu Sambamoorthy Srinivasan Memorial Prize Award

Puttaparthi Janardhanaiah Memorial Award

Sri Chakra's Cash Award


Awarded to a candidate who passes in all papers of the Executive Programme Examination at first attempt, in one sitting, without claiming exemption in any subject and obtaining the highest marks in Southern Region.

Awarded to a lady candidate who passes in all papers of Executive Programme Examination at first attempt, in one sitting, without claiming exemption in any subject and obtaining highest marks in Southern Region

Awarded to a candidate who passes in all papers of the Executive Programme Examination, at first attempt, in one sitting, without claiming exemption in any subject and obtaining the second highest marks in Southern Region.

Awarded to a candidate who passes in all papers of the Executive Programme Examination, at first attempt, in one sitting, without claiming exemption in any subject and obtaining the second highest marks in Southern Region.

12


Name of the Winner

Ms. Astha Bansal

Ms. Sneha Holla Karamballi

Ms. Renuka Devi Bommisetti

Mr. Balaji


Late G. Sundara Rajan Endowment Award

SIRC – V Kumar Memorial Prize Award

Late Shri K. Hariharan Endowment Award

Huklamakki Manjunatha Hegde Memorial Award

Awarded to a candidate who passes in all papers of the Executive Programme Examination, at first attempt, in one sitting, without claiming exemption in any subject and obtaining the highest marks in Capital Markets and Securities Laws in Southern Region.

Awarded to a candidate who passes in all papers of the Executive Programme Examination, at first attempt, in one sitting, without claiming exemption in any subject and obtaining the highest marks in Tax Laws and Practice in Southern Region.

Awarded to a candidate who passes in all papers of the Executive Programme Examination, at first attempt, in one sitting, without claiming exemption in any subject and obtaining the highest marks in Company Law in Southern Region.

Awarded to a candidate who passes in all papers of the Executive Programme Examination, at first attempt, in one sitting, without claiming exemption in any subject and obtaining the highest marks in Company Accounts and Audit ing Practices in Southern Region.

Professional Programme: December 2015

Name of the Winner

Mr.Padakanti Srikanth





Awarded to a candidate who passes in all papers of the Professional Programme Examination, at first attempt, in one sitting, without claiming exemption in any subject and obtaining the highest marks taking into account the performance of all such successful candidates under old as well as new syllabi from examination centres in Southern Region.

Awarded to a candidate who passes in all papers of the Professional Programme Examination, at first attempt, in one sitting, without claiming exemption in any subjectand obtaining the highest marks taking into account the performance of all such successful candidates under old as well as new syllabi from examination centres in Southern Region.

13


Name of the Winner


Mr.Padakanti Srikanth (Co-Winner)

Mr.Naga Venkata Sai Sru Sivakoti




Smt. Nagamma Memorial Award

SIRC Prize Award


SIRC Mrs. Pankajam Rengachari Prize Award

Late Anand Tamirisa Memorial Award

Awarded to a candidate who passes in all papers of the Professional Programme Examination, at first attempt, in one sitting, without claiming exemption in any subjectand obtaining the highest marks taking into account the performance of all such successful candidates under old as well as new syllabi from examination centres in Southern Region.

Awarded to a candidate who passes in all papers of the Professional Programme Examination, at first attempt , in one sitting, without claiming exemption in any subject and obtaining the highest marks in Corporate Restructuring, Valuation and Insolvency in Southern Region.

Awarded to a candidate who passes in all papers of the Professional Programme Examination, at first attempt, in one sitting, without claiming exemption in any subjectand obtaining the second highest marks taking into account the performance of all such successful candidates under old as well as new syllabi from examination centres in Southern Region.

Awarded to a candidate who passes in all papers of the Professional Programme Examination, at first attempt, in one sitting, without claiming exemption in any subject and obtaining the highest marks in Advanced Company Law and Practice in Southern Region.

Awarded to a candidate who passes in all papers of the Professional Programme Examination, at first attempt, in one sitting, without claiming exemption in any subjectand obtaining the second highest marks taking into account the performance of all such successful male candidates in Southern Region.

IX] Institution of New Prize Award

The Regional Council expresses its thanks for the benevolent support received from the donor :

Rs.1,00,000/- by Mrs. Lakshmi Chandramowli, w/o Late CS V Chandramowli a Prize Award was

instituted under the name “V. Chandramowli Memorial Award” - Cash Prize of Rs.5001/-This award will

be given effective from June, 2017 session of examination onwards for 20 sessions of CS Examinations

to a candidate who passes in all groups of the Professional Programme Examination, at first attempt,

in one sitting, without claiming exemption in any subject and obtaining the highest marks in “Secretarial

Audit, Compliance Management and Due Diligence" paper, taking into account the performance of

all successful candidates from examination centers within the Southern Region.

10] Publicity and Media

Focused attention was given to media and publicity campaign with an objective to disseminate the

activities/programmes of the Regional Council to the public at large. During the year under review, with

close interface with the Press organized a Press Meet on 8.6.2016. During the year under review, more

than 46 articles / press notes on the activities and announcements were published in various

newspapers / weeklies.

11] Career Awareness Programmes

The Regional Council continues to organize qualitative Career Awareness Programmes in various

educational institutions. 463 Career Awareness Programmes were conducted during the period under

review by the Officials from The ICSI, ICSI Counsellors and CS brand ambassadors. ICSI-SIRC also

participated in 10 Career Education Expo apart from 1 Career Awareness week to disseminate the

information about the course.

14


Name of the Winner

Ms. Radhika Radhkrishnan C R(Co-Winner)

Ms. Swetha S


SIRC Prize Award

SIRC Late Sudha Rani Memorial Award

Awarded to a candidate who passes in all papers of the Professional Programme Examination, at first attempt , in one sitting, without claiming exemption in any subject and obtaining the highest marks in Corporate Restructuring, Valuation and Insolvency paper under new syllabus taking into account the performance of all such successful candidates under old as well as new syllabi in Southern Region.

Awarded to a lady candidate who Passes in all papers of the Professional Programme Examination, at first attempt, in one sitting, without claiming exemption in any subject and is a topper taking into account the performance of al successful Lady candidates from Southern Region

15

ICSI-SIRC appointed ICSI Counsellors and informed them to take part in pan India drive 'UDAAN: WE FUEL YOUR GROWTH', in July 2016 and conducted more number of Career Awareness programmes in Schools/Colleges by Officials of SIRC and ICSI Counsellors.

12] One Day Seminar on Companies Act, 2013 –Heralding New Era of Corporate Governance jointly organized by The ICSI – SIRC with the University of Madras, Chennai

In order to understand The Companies Act, 2013 in a comprehensive manner and to understand its ramifications in larger context, one day seminar was organized jointly by the Institute of Company Secretaries of India and the Department of Commerce, University of Madras on 7th April 2016 at University of Madras, Chepauk, Chennai. More than 200 faculty members from commerce, Corporate Secretaryship and Management from various Colleges and Universities participated in the Seminar. Inaugural address was delivered by CS Sivakumar P, Imm. Past Chairman, ICSI-SIRC; key note address was delivered by Dr.S. Karunanidhi, Former Registrar, University of Madras; Professor & Head, Department of Psychology, University of Madras and the Valedictory address by Mr.P.Murari, IAS [Retd.], Advisor to President, FICCI & Former Secretary to President of India, Chennai. Eminent speakers addressed various technical sessions.

13] Setting up of ICSI Study Centres

The Institute of Company Secretaries of India has made various endeavors to reach out and develop support systems for its stakeholders. As a continuation of this exercise, the ICSI Study Centre Scheme was launched on the 2nd October, 2015. The purpose of ICSI Study Centre is to create synergy between the university education and professional education and to enhance the quality of education imparted to the ICSI students. The study centres are operated and managed by the Department of Commerce having relevance to CS course of the recognized University and Colleges on self-sustainable basis. During the period under review, ICSI-SIRC, Chennai signed agreements with the following institutions for setting up ICSI Study Centre:

14] Institution of ICSI Signature Award

The ICSI has instituted 'ICSI Signature Award Scheme' under which, a gold medal by the name of "ICSI Signature Award" will be awarded to the Topper in the University/IIT/IIM Commerce Examinations. The Signature Award along with a certificate will be distributed annually in the Convocation of the University/Institution or any other appropriate function. The top three students of the Universities /Institute will be eligible for full waiver of Registration Fee for ICSI Executive Programme Stage. The ICSI has signed agreement for institution of ICSI Signature Award with the following institutions during the year under review.

1. Adikavi Nannaya University, Rajahmundry (AP)

2. Andhra University, Visakhapatnam (AP)

3. Indian Institute of Management, Tiruchirappalli (TN)

4. Alagappa University, Karaikudi (TN)


Name of the Institution

Shrimathi Devkunvar Nanalal Bhatt Vaishnav College for Women, Shanthi Nagar, Chromepet, Chennai

Dharmamurthi Rao Bahadur Calavala Cunnan Chetty's Hindu College, Pattabhiram, Chennai

Bharathidasan Government College for Women (Autonomous), Puducherry

National College, Tiruchirapalli

Marudhar Kesari Jain College for Women, Vaniyambadi, Vellore Dist.

16

15] Appointment of ICSI Counsellors

ICSI main objective is to appoint ICSI Counsellors in each district of India even in the region/area where

ICSI Regional Councils and Chapters are located, for conducting Career Awareness Programmes

across India which will aid in increasing the Awareness about the CS Course, Professional opportunities

and training requirements. During the period under review, ICSI-SIRC has appointed 12 Counsellors.

16] Students' Strength

The Regional Council as well as Chapters at Amaravati, Bengaluru, Calicut, Coimbatore, Hyderabad,

Kochi, Madurai, Mangalore, Mysore, Salem, Palakkad, Thrissur, Thiruvananthapuram and

Visakhapatnam have done registrations. Details of Students strength in the southern region are

furnished as under:

17] Regional Council Affairs

A] Regional Council Meetings

The Regional Council met six times during the period under review and the meetings were held on

24.4.2016; 21.5.2016; 5.8.2016; 14.10.2016; 10.12.2016 and 25.2.2017. The attendance for these

meetings are given hereunder:


REGION

SIRC

SIRC

SIRC

SIRC

SIRC

SIRC

SIRC

SIRC

SIRC

SIRC

SIRC

SIRC

SIRC

SIRC

SIRC

CHAPTER

AMARAVATHI

BANGALORE

CALICUT/ KOZHIKODE

CHENNAI

COIMBATORE

HYDERABAD

KOCHI

MADURAI

MANGALORE

MYSORE

PALAKKAD

SALEM

THIRUVANANTHAPURAM

THRISSUR

VISAKHAPATNAM

TOTAL

FOUNDATION

1

823

30

2695

239

179

77

133

163

148

56

40

46

59

50

4739

EXECUTIVE

116

1781

100

4846

411

1037

208

141

277

227

94

74

158

134

211

9815

17

S.No. Name of the Regional Council MemberNo. of

Meeting held

No. of Meetingsattended

1

2

3

4

5

6

7

8

9

10

11

12

Sivakumar P.

Ganapathi G.M

Ramakrishna Gupta R.

Mohan Kumar A

Ramasubramaniam C.

Ahalada Rao V.

Gopalakrishna Hegde

Nagendra D Rao

Shastry P.S.

Dhanapal S

Gautam S B *

Krishnan S, IAS *

6

6

6

6

6

6

6

6

6

6

6

6

6

6

6

6

6

5

4

6

3

5

-

1

* Co-opted Member

The following sub-committee meetings were held during the period under review:

Name of the Committee

Finance & Accounts

Placement & Training

Classroom Teaching

Professional Development

Date

21.5.2016; 25.2.2017

4.6.2016

4.6.2016

4.6.2016

18] Chaptersi) Professional Development Activities of Chapters

All Chapters under Southern Region have made their best efforts to conduct various programs for the benefits of members and students during the year under review. The details of information pertaining to activities undertaken by the chapters from during the year under review are as under:

Chapters

Amaravati

Bangalore

Calicut

Coimbatore

Hyderabad

Kochi

Madurai

Mangalore

Mysore

Palakkad

Salem

Thiruvananthapuram

Thrissur

Visakhapatnam

SCM

-

17

--

2

2

12

--

--

5

3

3

--

2

2

SPL.

-

12

2

11

15

4

3

--

6

4

6

3

2

12

PDP

06

28

7

8

15

8

4

4

8

7

10

8

1

14

SM

01

46

1

15

18

3

3

--

4

2

2

3

2

15

CAP

34

37

20

69

105

85

30

120

27

11

14

38

25

78

IAP

-

--

--

--

4

--

2

--

--

0

5

--

--

1

NS

01

7

--

--

4

1

1

--

--

1

--

--

--

--

Note : SCM- Study Circle Meeting; SPL – Special Meeting; PDP – Professional Development Programmes; SM-Students Meeting; CAP – Career Awareness Programmes; IAP-Investor Awareness Programmes NS – National Seminars


18

ii) Class Room Teaching

The Chapters in the southern region conduct Class Room Teaching for the benefit of students of

Foundation, Executive programmes and in some Chapters for the professional programmes as well.

iii) Library

Library facilities are available at Amaravati, Bengaluru, Hyderabad, Calicut, Coimbatore, Cochin,

Madurai, Mangalore, Mysore, Palakkad, Thiruvanthapuram, Visakhapatnam, Thrissur and Salem

Chapters.

Iv) Coordination with the Chapters

During the period under review, SIRO had regular interactions with Chapters under Southern Region.

Monitoring of Chapter activities were done at periodical review meetings with the respective chapters.

SIRO Monitoring Cell was setup under the guidance of Ms. Sarah Arokiaswamy, Joint Secretary, ICSI-

SIRO to review chapter activities. Meeting with Chapter Chairmen were done at regular intervals by the

Chairman of SIRC.

v) Internal Audit of the Chapters

The Quarterly Internal Audit Reports were received from A+, B and C Grade Chapters and half yearly

Internal Audit Report in respect of grade D chapters.

19] Library & Information Services:

Additions to the Library

During the period under review, 103 Books were added to the library and the same have been kept in the

reference section of the library. Apart from procurement of books from the booksellers, the Regional

Council has received books as “Complimentary Copies” from leading publishers.

20] Finance and Accounts

During the year under review the Regional Council spent i) Rs.2,84,233/- towards purchase of Fixed

Assets out of the Capital Budget of Rs.13,67,019/- allocated for the FY 2016-17 and ii) Rs.12,00,134/-

towards toilets renovation out of the Infrastructure Fund.

I] Quarterly Review of Accounts

The Accounts of the Regional Council is being reviewed on quarterly basis with reference to budget and

actuals. The Financial Performance of the Regional Council is being analyzed on the basis of key

parameters.

II] Financial Position

As per the audited accounts which is annexed, the Reserves & Surplus for the year 2016-2017 stood at

Rs.3,62,96,807/-. The Income over expenditure for the year under review was Rs.36,38,451/-.

III] Internal Audit

Quarterly Internal Audit reports were placed before the Regional Council for its reivew and record.


19

21) Acknowledgements

The Regional Council expresses its thanks to CS Mamta Binani, immediate Past President, ICSI. It also places on record, the help and guidance received from CS Dr Shyam Agrawal, President, The ICSI and CS Makarand M Lele, Vice-President, The ICSI, CS Dinesh Chandra Arora, Secretary,The ICSI; CS Ahalada Rao V, CS Gopalakrishna Hegde and CS Ramasubramaniam C, Council Members elected from the Southern Region and Other Members of the Central Council for their encouragement, support and guidance.

The Regional Council places on record its appreciation for the valuable services rendered and the commitment displayed by the Officials of SIRO led by Ms. Sarah Arokiaswamy, Joint Secretary. It also places on record its thanks to the Officers and Staff of ICSI, Headquarters.

The Regional Council is also happy to place on record the valuable suggestions and guidance given by Shri S B Gautam, Regional Director, Ministry of Corporate Affairs, Southern Region, Chennai; Shri S Krishnan, IAS, Principal Secretary to Government, Planning and Development Department, Government of Tamilnadu, Secretariat, Chennai. The Regional Council expresses its sincere thanks to the senior officials of the Ministry of Corporate Affairs, Government of India; Company Law Board/NCLT, Officers of the Regional Director [MCA]; Registrar of Companies, Official Liquidator, for their continued support. The Regional Council expresses its gratitude to all donors [CS Nagendra D Rao, CS K Rajagopal and CS Ganapathi G M] who have been kind and magnanimous in donating to the SIRC.

The Regional Council also expresses its appreciation to the Corporates for their support to the professional developmental activities undertaken by the Regional Council during the year under review. The Regional Council places on record its appreciation to CS Sivakumar P, Immediate Past Chairman, ICSI-SIRC for the excellent work carried out in organizing various development programmes during the major portion of the year 2016-2017.


Date : Chennai

Place : 9.5.2017

For and on behalf ofSOUTHERN INDIA REGIONAL COUNCIL


CS GANAPATHI G.M.CHAIRMAN

20

INDEPENDENT AUDITORS’ REPORT

To The Southern India Regional Council (SIRC) The Institute of Company Secretaries of India (ICSI)

Report on the Financial Statements

We have audited the accompanying Financial Statements of SIRC OF ICSI, which comprise the Balance sheet as at 31st March, 2017, the Income and Expenditure Account for the year ended as on that date and a summary of significant accounting policies and other explanatory information

Management's Responsibility for the Financial Statements

SIRC's management is responsible for the preparation of the financial statements that give a true and fair view of the financial position and financial performance of SIRC OF ICSI and in accordance with the generally accepted Accounting Principles in India. This responsibility includes the design, implementation and maintenance of internal control relevant to the preparation and presentation of the financial statements that give a true and fair view and are free from material misstatement, whether due to fraud or error.

Auditor's Responsibility

Our responsibility is to express an opinion on the financial statements based on our audit. We conducted our audit in accordance with the Standards on Auditing issued by the Institute of Chartered Accountants of India. Those Standards require that we comply with the ethical requirements and plan and perform the audit to obtain reasonable assurance about whether the financial statements are free from material misstatement.

An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements. The procedures selected depend on the auditor's judgement, including the assessment of the risks of material misstatements of the financial statements, whether due to fraud or error. In making those risk assessments, the auditor considers internal control relevant to the SIRC's preparation of the financial statements that give a true and fair view in order to design audit procedures that are appropriate in the circumstances.

FORD RHODES PARKS & CO. LLP CHARTERED ACCOUNTANTS

Shakthi Towers III El & E2, Sixth Floor, 766, Anna Salai, Chennai - 600 002. Tamil Nadu, India

Phone : 28514498 / 42029940 E-mail : [email protected] [email protected] Website: www.fordrhodesparks.com

Ford, Rhodes, Parks & Co., a partnership firm with Registration No : BA 61078 converted into Ford Rhodes Parks & Co. LLP with LLP Registration No : AAE-4990 with effect from August 04, 2015

Also at : BENGALURU * KOLKATA * MUMBAI

.... 2 ...


21

An audit also includes evaluating the appropriateness of the accounting policies used and the reasonableness of the accounting estimates made by the management, as well as evaluating the overall presentation of the financial statements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for audit opinion on the financial statements.

Emphasis on matter

During our audit, we have been informed by the Management that Employee Cost of SIRC OF ICSI including salary, bonus and gratuity relating to permanent employees have been accounted at and paid from Head office and no expense or provision for the said cost has been accounted in the books of SIRC OF ICSI.

We Report that: a. We have obtained all the information and explanations which to the best of our knowledge and

belief were necessary for the purpose of the audit.

b. In our opinion, proper books of accounts have been kept by the SIRC OF ICSI, so far as it appears from our examination of those books.

c. The Balance Sheet and Income & Expenditure Account, dealt with by this Report are in agreement with the books of accounts. d. In our opinion, the Balance sheet and Income & Expenditure Account comply with the applicable Accounting Standards issued by the Institute of Chartered Accountants of India.

Opinion

In our opinion and to the best of our information and according to the explanations given to us, the financial statements and the Notes to Accounts thereon give a true and fair view in conformity with the accounting principles generally accepted in India:

I. In the case of the Balance Sheet of the Southern India Regional Council of Institute of the Company Secretaries of India, the state of affairs as at 31st March,2017, and

II. In the case of Income and Expenditure account, of Southern India Regional Council of Institute of Company Secretaries of India, of its Surplus (Excess of Income over Expenditure) for the year ended 31st March, 2017.

FORD RHODES PARKS & CO. LLP CHARTERED ACCOUNTANTS


RAMASWAMY SUBRAMANIAN

Partner

Membership No.016059

Place : Chennai

Dated : 09.05.2017

As per our report of even date.

For - FORD RHODES PARKS & CO. LLPChartered Accountants ICAI Registration No.: 102860W / W100089


22

For and on behalf of ICSI - SIRC



Partner

CS MOHAN KUMAR A

CS GANAPATHY G M CS RAMAKRISHNA GUPTA RMembership No.016059 CHAIRMAN VICE CHAIRMAN & TREASURER

SECRETARY

Place : Chennai

Dated : 09.05.2017

SARAH AROKIASWAMYJOINT SECRETARY



(Amount in Rs.)

PARTICULARS NOTE

NO.

As at 31st March

2017

As at 31st March

2016

I. SOURCES AND LIABILITIES

(1) Reserves & Surplus

(a) Reserve & Surplus 1 34,856,755 30,598,534

(b) Earmarked Funds 2 1,440,052 2,418,320

SUB-TOTAL (1) 36,296,807 33,016,854

(2) Non- Current Liabilities

(a) Long Term Borrowings - -

(b) Long Term Liabilities - -

(c) Long Term Provisions - -

SUB-TOTAL (2) - -

(3) Current Liabilities

(a) Short Term Borrowings -

(b) Sundry Creditors 3 349,329 377,623

(c) Other Current Liabilities 4 982,557 1,384,240

(d ) Short term Provisions 5 162,774 80,794

SUB-TOTAL (3) 1,494,660 1,842,657

TOTAL (1+2+3) 37,791,467 34,859,511

II. ASSETS

(1) Non-current Assets

(a) Fixed Assets 6

(i) Tangible Assets 1,926,417 1,672,056 (ii) Intangible Asssets - 22,967

(iii) Capital Work in Progress - -

(iv) Intangible Assets under development - -

SUB-TOTAL (a) 1,926,417 1,695,023

(b) Non-current Investments 7 22,689,857 1,696,302

(c ) Long Term Loan and Advances (Other Deposits) 66,360 66,360

(d) Other Non-Current Assets - -

SUB-TOTAL (1) 24,682,634 3,457,685

(2) Current Assets

(a) Current Investments 8 8,625,198 26,178,164

(b) Inventories 9 50,501 67,494

(c ) Sundry Debtors 10 33,274 403,681

(d) Cash and Cash Equivalents 11 1,605,471 2,161,807

(e) Short terms Loans and Advances 12 - -

(f) Other current Assets 13 2,794,389 2,590,680

SUB-TOTAL (2) 13,108,833 31,401,826

TOTAL (1) + (2) 37,791,467 34,859,511

ACCOUNTING POLICIES AND OTHER NOTES TO THE ACCOUNTS 20

Notes referred to above form an integral part of the Balance Sheet. As per our report of even date.

SOUTHERN INDIA REGIONAL COUNCIL OF THE INSTITUTE OF COMPANY SECRETARIES OF INDIA

BALANCE SHEET AS AT 31ST MARCH 2017

23


( Amount in Rs. )

PARTICULARS Note No.

31st Mar 2017 31st Mar 2016

INCOME

Income from Activities 14 12,311,591 9,653,340

Interest on Investments 2,013,018 2,045,243

Other Income 15 707,385 632,961

TOTAL INCOME 15,031,994 12,331,544

EXPENDITURE

Employee Benefit Expense 16 55,339 63,500

Oral Education Expense 2,360,686 1,605,637

Travelling and Conveyance Expense 17 1,122,697 596,440

Programmes / Seminars Expense 18 5,284,496 3,637,096

Career Awareness and Promotion Expense - 25,000

Depreciation & Amortization 596,979 459,876

Other Expenses 19 1,500,557 1,835,556

TOTAL EXPENDITURE 10,920,754 8,223,105

Surplus before extra ordinary & exceptional items 4,111,239 4,108,439

Add / Less : Extra Ordinary Items -

Add / Less : Exceptional Items( transferred from Infrastructure fund) -

Surplus on Disposal of Assets 546 -

Loss on sale / Disposal / write-off of Assets 44,028 19,505

Prior period expenses (net) 429,306 49,701

Surplus after extra ordinary & exceptional items 3,638,451 4,039,233

Appropriation to Funds / Reserves : -

(i) Endowment Prize Award Reserves - -

TOTAL APPROPRIATIONS - -

Balance transferred to General Reserve 3,638,451 4,039,233

TOTAL 3,638,451 4,039,233

ACCOUNTING POLICIES AND OTHER NOTES TO THE ACCOUNTS20


INCOME & EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31ST MARCH 2017

For the year ended




Partner

CS MOHAN KUMAR A

CS GANAPATHY G M CS RAMAKRISHNA GUPTA RMembership No.016059

Place : Chennai

Dated : 09.05.2017



CHAIRMAN VICE CHAIRMAN & TREASURER

SECRETARY

24

SOUTHERN INDIA REGIONAL COUNCIL OF


RESERVES & SURPLUS NOTE 1


(Amount in Rs. )

As at 31st

PARTICULARS March 2017

As at 31st March 2016

(1) GENERAL RESERVE

As per last Balance Sheet# 29,093,664 25,054,431

Add :

(i) Donations - -

(ii) Transfer from any Specific / Other Reserve - -

(iii) Additions during the year

Less :

i) Transfer to Specific / Other Reserves - -

ii) Utilisation

Contribution made to HQ/chapters for land, building and assets -

40th Regional conference held on 9-10 June 2015 Suplus 60% Share to Bengaluru Chapter 118,581

Sub-Total (1) 28,975,083 25,054,431

(2) OTHER THAN GENERAL RESERVES, IF ANY

(2A) BUILDING RESERVE

As per last Balance Sheet 6,885,787 6,885,787

Add : Interest

Add : Donations

Add : Transfer from Reserves

Add : Transfer from I&E Account

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

Sub-Total (2A) 6,885,787 6,885,787

(2B) LIBRARY RESERVE

As per last Balance Sheet 301,874 274,667

Add: Interest 21,399 22,207

Add : Donations 45,001 5,000

Add : Transfer from Reserves -

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

Sub-Total (2B) 368,274 301,874

PARTICULARSA As s at at 31st 31st

March 2016 March 2017

25



RESERVES & SURPLUSNOTE 1

# General reserve opening balance includes previous year surplus

(Excess of Income over expenditure Account Rs. 40,39,233/-)


(2C) INFRASTRUCTURE RESERVE

As per last Balance Sheet

Add: Interest

Add : Donations




Sub-Total (2C)

(2D) MANAGEMENT SKILLS ORIENTATION PROGRAMME FUND RESERVE



Add : Donations




Sub-Total (2D) 431,089 399,298

(2E) ORAL COACHING FUND RESERVE ACCOUNT



Add : Donations -

Add : Transfer from Reserves -

Add: Transfer from I & E (i.e. Students programme fee) 12,974

Less : Utilisation / transfer (mention specific purpose/nature) 94,631

Sub-Total (2E) 776,729 724,931

Total (2) 8,461,879 8,311,890(3) SURPLUS i.e. EXCESS OF INCOME OVER EXPENDITURE TRANSFERRED FROM I & E

ACCOUNT 3,638,451 4,039,233

(4) CONTRIBUTION TO /FROM TOWARDS LAND & BLDG / OTHER ASSETS

Add: Contribution (Liabilities)

Contribution from HQ for Library Project -

Contribution from HQ for Assets 667,128 78,767

Less : Contribution (Assets)

Contribution made to HQ on Land & Builiding 6,885,787 6,885,787

Total (4) (6,218,659) (6,807,020)

Total : (1)+(2) +(3) +(4) 34,856,755 30,598,534

26

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0

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1,14

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3,07

4

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6,49

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3,

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5,62

0

3,

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ount

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28

,287

30,6

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82

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67,1

28

14

8,79

0

66,5

60

13

1,48

5

65,9

78

60,0

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3

3,

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4

7,

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3,75

3

9,

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3,75

3

2,

502

1,25

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1,25

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Net T

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53,5

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26,7

84

29

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78,3

29

63

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141,

284

62

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122,

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62

,225

57

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58

,002

56

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100,

452

94

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1

28




NOTE - 3

SUNDRY CREDITORS (Amount in Rs.)

PARTICULARSAs at 31st March

2017As at 31st March

2016

Sundry Creditors

- For Goods & Services 180,050 377,623

- Others 169,279 -

Total 349,329 377,623

NOTE - 4

OTHER CURRENT LIABILITIES (Amount in Rs.)

PARTICULARSAs at 31st March

2017As at 31st March

2016

Other Current Liabilities -

(i) Fees received in advance from Members 433,909 683,843

(ii) Fees received in advance from Students 369,290 535,558

(iii) Security Deposits - -

(iv) Other Current Liabilities -

- Property Tax - -

- TDS (Yearwise) 90,498 33,940

- Service Tax - 1,014

- Professional Tax - -

- Sales Proceeds of HQ Publications - -

- Advance from HQ - 12,250

- Advance from Chapter 88,860 9,112

- Others - 108,523

Total : 982,557 1,384,240

NOTE - 5

SHORT TERM PROVISIONS (Amount in Rs.)

PARTICULARS As at 31st March

2017 As at 31st March

2016

(i) Expense payable -

a) Contribution to CSBF - 2,480

b)

c)

(ii) Provision for expenses

a) Electricity - 52,857

b) AC repair - 19,465

c) Other Expenses 162,774 5,992

Total 162,774 80,794

29

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30


THE INSTITUTE OF COMPANY SECRETARIES OF INDIA NOTE - 7

NON CURRENT INVESTMENTS


AS ON AS ON

01.04.2016 31.3.2017

I. INVESTMENT IN GOVT. SECURITIES

(i) - - - -

(ii) - - - -

(iii) - - - -

- - - -

II. INVESTMENT IN DEBENTURES / BONDS

(i) HUDCO - - - -

(ii) PFC - - - -

(iii) REC - - - -

- - - -

III INVESTMENT IN MUTUAL FUNDS

(i) - - - -

(ii) - - - -

(iii) - - - -

- - - -

IV OTHER NON-CURRENT INVESTMENTS

(A) Fixed Deposits in Banks

(i) PNB - - - -

(ii) Canara 1,696,302

6,939,361 - 8,635,663

(iii) CBI - 14,054,194 - 14,054,194

(iv) UCO - - -

-

1,696,302 20,993,555 - 22,689,857

(B) Fixed Deposits with institutions other than Banks

(i) HUDCO - - - -

(ii) NHB - - - -

(iii) EXIM Bank - - - -

(iv) LIC Housing Finance - - - -

(v) PNB Housing Finance - - - -

- - - -

(C ) OTHERS (Specify nature) - - - -

- - - -

TOTAL (IV) 1,696,302 20,993,555 - 22,689,857

TOTAL(I+II+III+IV) 1,696,302 20,993,555 - 22,689,857

ADDITIONS DELETIONSPARTICULARS

SUB-TOTAL(I)

SUB-TOTAL(II)

SUB-TOTAL(III)

SUB-TOTAL(IV-A)

SUB-TOTAL(IV-B)

SUB-TOTAL(IV-C)

Amount in (Rs.)

31




AS ON AS ON

01.04.2016 31.3.2017

I. INVESTMENT IN GOVT. SECURITIES

(i) - - -

(ii) - - -

(iii) - - -

- - - -

II. INVESTMENT IN DEBENTURES / BONDS

(i) HUDCO - - -

(ii) PFC - - -

(iii) REC - - -

- - - -

III INVESTMENT IN MUTUAL FUNDS

- - -

(i) - - -

(ii) - - -

(iii) - - -

- - - -

IV OTHER CURRENT INVESTMENTS

(A) Fixed Deposits in Banks

(i) PNB - - -

(ii) Canara - - -

(iii) SBI - - -

(iv) UCO Bank 8,559,950 3,418,391 8,559,950 3,418,391

(v) Indian Bank 11,312,039 - 11,312,039 -

(vi) IOB 6,306,175 - 6,306,175 -

(vii) Canara Bank - 5,206,807 5,206,807

(viii) CBI - - - - 26,178,164 8,625,198 26,178,164 8,625,198

(B) Fixed Deposits with institutions other than Banks

(i) HUDCO - - -

(ii) NHB - - -

(iii) EXIM Bank - - -

(iv) LIC Housing Finance - - -

(v) PNB Housing Finance - - -

- - - -

(C ) OTHERS (Specify nature) - - -

- - - -

26,178,164 8,625,198 26,178,164 8,625,198

26,178,164 8,625,198 26,178,164 8,625,198

SUB-TOTAL(II)

SUB-TOTAL(III)

SUB-TOTAL(IV-A)

SUB-TOTAL(IV-B)

SUB-TOTAL(IV-C )

TOTAL IV :

PARTICULARS ADDITIONS DELETIONS

SUB-TOTAL(I)

TOTAL (I+II+III+IV) :

CURRENT INVESTMENTS NOTE - 8

Amount in (Rs.)

32




NOTE - 9

INVENTORIES (Amount in Rs.)

PARTICULARSAs at 31st

March 2017

As at 31st March

2016

Publications (RO / Chapters own) - -

Consumables, Stores & Others (RO / Chap own) 50,501 67,494

Total 50,501 67,494

NOTE - 10

SUNDRY DEBTORS (Amount in Rs.)


March 2017

As at 31st March

2016

a) Sundry Debtors outstanding for more than six months

Secured , considered good - - Unsecured , considered good 33,274 403,681

Doubtful - Less : Provision for Bad and Doubtful debtors - -

SUB-TOTAL (a) 33,274 403,681

b) Others sundry debtors

(i) Secured , considered good - -

(ii) Unsecured , considered good - -

(iii) Doubtful -

-

Less : Provision for Bad and Doubtful debtors -

-

SUB-TOTAL (b) -

-

Total(a+b) 33,274 403,681

NOTE - 1

CASH AND CASH EQUIVALENT S (Amount in Rs.)


March 2017As at 31st March

2016

Balances with Bank (including linked term deposits) 1,605,471 2,161,807

Cheques / Drafts / Postal Orders / Stamps / Franking units in hand

/stamp - -

Cash in hand - -

Total 1,605,471 2,161,807

33




NOTE - 12

SHORT TERM LOANS AND ADVANCES (Amount in Rs. )


March 2017

As at 31st March

2016

SHORT TERM LOANS AND ADVANCES

Secured , considered good

Unsecured , considered good

Contribution made to HQ on Land & Builiding - -

Chapters - -

Advance for expenses - -

Prepaid expenses - -

Doubtful - -

Less : Provision for Bad and Doubtful advance - -

Total - -

NOTE - 13

OTHER CURRENT ASSETS (Amount in Rs.)


March 2017

As at 31st March

2016

OTHER CURRENT ASSETS

Accrued Interst on investments (Bank Deposits) 1,519,063 1,503,693

Accrued Interst on Non-Current Investments

Prepaid Expenses 28,467 28,535

Security Deposit -

CENVAT Credit - 1,014

Recoverable from Parties / Vendors (with break up)

Recoverable from Headquarter (with break up)

- TDS 21,762 19,822

- Reimbursement (with break up) 913,727

EXAMINATON EXPS 10,240

16.12.16 NSE Seminar 14,432

Campus Interview Exps 1,615

Career Awerness Prg-HQ 172,950

CCD-CCM-Expn 303,852

CCD-Study Center & SA Expn. 16,611

CCD-TRAVEL & STAY 6,529 CCD_CSAC_Expn. 21,243

DUE FROM HQ-2Day Inducation Prg. Faculty Honoraraium 4,000

DUE FROM HQ-CSAC Internet Charges Feb & Mar 2017 2,298

Education Expo Expn_CCD 505,124

Recoverable from Chapters (with break up)

Bengaluru chapter - (Service Tax March'2017) 152,560

Kochi chapter - (Service Tax March'2017) 13,643 123,889

Total : 2,794,389 2,590,680

34




Note -14

Incom from Activities (Amount in Rs.)

- Income from Students - Oral Education Fee 4,490,810 - 3,714,684 Other Fees

Library Annual Subscription 32,100 34,300 Library Fine - 275

Library Reading Room Fee 78,582 110,682 75,703 110,278

Sale of Publications (RC /Chap own) - -

(IV) Programmes / Seminars

From Members 5,620,548 4,176,472

From Students

- Oral Education - -

- Students Training Programmes 2,089,551 1,651,906

- Others - -

TOTAL 12,311,591 9,653,340

PARTICULARS31st Mar 2016

For the year endedFor the year ended

31st Mar 2017

NOTE -15

Other Income (Amount in Rs.)

PARTICULARS

for the year

ended 31st

March 2017

for the year

ended 31st

March 2016

Subscription and Advertisement to Newsletter 90,000

Interest on Investments/Bank balance - - Innvestor Awarness Programmes - -

Provision for expenses no longer required, written-back 1,200 1,780

Donations - General - -

Rent 5,250 12,250

Grants received from HQ 534,320 512,210

Unpaid Security Deposits / EMD / Retention Money/ Stale Cheques - -

Miscellaneous 31,599 32,389

Royalty for oral coaching - -

Commission from Publications 45,016 49,120

Prior Period Income ( net) - -

TOTAL 707,385 607,749

35




Note -16

EMPLOYEE BENEFIT EXPENSE (Amount in Rs.)

31st March 2017 31st March 2016

Salaries and Allowances 15,250 15,962

Staff Welfare 40,089 47,538

ICSI Employees Benevolent Fund - -

ICSI Employees Medical Hospitalisation Fund - -

Less : Allocation to RC/C & Scientific Research Activities - -

TOTAL 55,339 63,500

Note -17

TRAVELLING AND CONVEYANCE EXPENSE (Amount in Rs.)


Travelling Expenses 1,116,179 575,008

Conveyance Expenses 6,518 21,432

TOTAL 1,122,697 596,440

Note -18

PROGRAMMES / SEMINAR EXPENSES (Amount in Rs.)


Programmes / Seminars of Members 4,084,997 2,426,723

Programmes / Seminars of Students

a) Students Training Programmes 1,144,297 1,094,112

b) Other Programmes 55,202 116,261

TOTAL 5,284,496 3,637,096

PARTICULARS

PARTICULARS

PARTICULARS

For the year ended

For the year ended

For the year ended

36




Note - 19

OTHER EXPENSES (Amount in Rs.)

Stationery 119,529 126,088

Newsletter Printing Charges 21,237 -

Legal and Professional Services 103,500 32,175

Rent, Rates and Taxes - -

Electricity and Water 156,816 131,424

Communication Expense

- Telephone / Fa x 86,526 83,363

- Courier / Postage 37,216 123,742 26,063 109,426

Insurance -

Repairs and Maintenance

- Buildings 97,392 4,595 -

- Computer 2,850 2,385

- Other Assets 229,671 276,513 -

- Vehicles - 329,913 - 283,493

Office Expenses 434,913 408,235

Newspapers and Periodicals 5,155 5,098

Meeting expenses 77,559 112,480

Computerisation (Data Processing) - -

Prior-period expenses - -

Packing and Despatch - -

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

Loss/Write-off of Stocks - -

Bank Charges 1,693 2,103

Student Scholarship and Awards - -

Auditors Remuneration (including Service Tax) - -

- Statutory Audit Fees 69,000 68,700 -

- Internal Audit Fees 57,500 126,500 45,800 114,500

Investor Awarness Pro grammes - -

TDS / Income Tax Recoverable written of f - -

Bad Debts - -

Provision for Bad/Doubtful Debts - -

Advances not recoverable (Debit balance) written of f - 10,534

Contributions: -

ICSI Student Education Fund Trust - -

C S Benevolent Fund Trust - -

Contribution(CMRF/PMRF) - 500,000

TOTAL 1,500,557 - 1,835,556

PARTICULARS31st Mar 2016

For the year ended

31st Mar 2017

(A) ACCOUNTING POLICIES

1. Basis of Preparation of Financial Statements

The Financial Statements are drawn up on historical cost basis and have been prepared in accordance with applicable Accounting Standards issued by the Institute of Chartered Accountants of India and as per instructions by ICSI-Central office and are on accrual basis unless otherwise stated.

2. Uses of Estimates

The preparation of Financial Statements requires some estimates which affect the reported amounts of assets and liabilities on the date of Financial Statements and the reported amount of revenues and expenses during the year. Difference between the actual result and estimates are recognized in the period in which results are known/ materialized.

3. Revenue Recognition

a. Fees received from Members are accounted for on cash basis. However, fees received in advance are carried over as a liability.

b. Fee from students is recognized on cash basis.

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

d. Revenue from sale of publications is recognized at the time of preparing the sale bill, ie. when the property in goods as well as the significant risks and rewards of the property get transferred to buyer.

e. Income from Investments

i) Dividend on investments is recognized on receipt basis.

ii) Income on interest-bearing securities and fixed deposits is recognized on a time proportion basis taking into account the amount outstanding and the rates applicable.

f. Receipt of money for specific sponsored Programmes is recognised on a systematic basis in the Income & Expenditure Account over the periods necessary to match them with the related costs which they are intended to compensate. Unspent balance of such receipts, if any, is carried to next year.

4. Investments

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

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

5. Fixed Assets / Depreciation and Amortization

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

b. Depreciation is provided on the Written Down Value method at the following rates as approved by the Council, based on the useful life of the respective assets :

37

NOTE 20ACCOUNTING POLICIES AND NOTES TO ACCOUNTS 2016-17



Item %

Buildings 5Furniture and Fixtures 10Lifts/Air Conditioners/Other Equipments 15Vehicles 20Computers / Mobile Phones 40

c. Depreciation on additions to Fixed assets is provided on pro-rata basis. No depreciation is charged in the year of sale.

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

e. Library books are depreciated at the rate of 100% in the year of purchase.

f. Intangible Assets (Software) are amortized equally over a period of three years.

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

impairment based on internal / external factors. The impairment loss is recognized wherever the carrying amount of an asset exceeds its recoverable amount. The recoverable amount is higher of asset's net selling price or value in use. In assessing the value in use, the estimated future cash flows are discounted to their present value at the weighted cost of capital.

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

realizable value. The cost is determined on FIFO basis.

8. Foreign Currency Transactions

a. Foreign currency transactions are recorded on initial recognition in the reporting currency by applying to the foreign currency amount at the exchange rate prevailing as on the date of transactions.

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

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

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

Defined Contribution Plana. Contributions to Provident Fund Trust maintained by the Institute are recognized as expenses.

Defined Benefit Plana. Amount payable/recoverable to/from Gratuity Fund Trust are recognized as liability/assets in the

balance sheet based on the valuation report received from LIC for present obligation of liability at the year end.

b. Contribution to Pension Fund Trust are made based on actuarial valuation and recognized as an expense as per AS-15 (Revised).

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

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

probable that an outflow of resources will be required to settle the obligation, in respect of which a reliable estimate can be made. Provisions are not discounted to its present value and are determined based on best estimate required to settle the obligations at the Balance Sheet date. These are reviewed at each Balance Sheet date and adjusted to reflect the current best estimates.

11. Contribution to Approved Funds Allocation /Contributions to ICSI Students Education Fund Trust, ICSI National Award for Corporate

Governance, ICSI Employees Medical Hospitalization Trust, Company Secretaries Benevolent Fund, ICSI Employees Benevolent Fund, Performance-related Incentive Fund and Infrastructure Fund, Professional Development Fund are made based on the amount as approved by the Council from time to time.

12. Allocations / Transfer to Reserves and Surplus and Earmarked Fundsa. Corpus donation / donation for Building & Other Specific Fund received during the year is directly

taken to such Reserve.

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

38


13. Old outstanding amounts under the heads of 'Earnest Money Deposits, Retention Money, Security Deposits and Stale Cheques' Earnest Money Deposits, Retention Money, Security Deposits and Stale Cheques remaining unpaid for more than three years after the due date for payment, wherever applicable, is treated as income.

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

1. Contingent Liability NIL

2. Prior Period Income / Expenditure

3. Capital Commitments - NIL

4. Other Commitments - NIL

5. Donation in kind - NIL

6. Related Party Transactions - NIL

7. Specified Bank Notes (SBNs) means Bank Notes of denomination of Rs.500/- and Rs.1000/- which ceased to be the legal tender w.e.f. from 8th November 2016 mentioned below:

39


Particulars Specified Bank Notes

(SBNs)*

Other denomination

Notes

Total

Closing cash in hand as on 08.11.2016 NIL NIL NIL(+) Permitted receipts NIL NIL NIL(-) Permitted payments NIL NIL NIL(-) Amount deposited in banks NIL NIL NILClosing cash in hand as on 30.12.2016 NIL NIL NIL

Sl. No.

Particulars Amount Remarks

1 KrishKalyanCess on Statutory Auditors Fee for the year 2015-16

300-00 Expenditure

2 Travelling expenses in respect of One-day Seminar Speaker’s held on 28.09.2013

25325-00 Expenditure

3 Claim receivable from NISM, has been written off as decided in 161st meeting of ICSI-SIRC held on 05.08.2016 at Madurai

403681-00 Expenditure

Previousfigures have been re-grouped or re-arranged wherever necessary.




Partner

CS MOHAN KUMAR A

CS GANAPATHY G M CS RAMAKRISHNA GUPTA RMembership No.016059

Place : Chennai

Dated : 09.05.2017



CHAIRMAN VICE CHAIRMAN & TREASURER

SECRETARY

37 icsi - sirc annual report of...ca chinnasamy ganesan, chennai cs sriram p, chennai cs seema rath...

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