from the chairman - icsi.edu · this opportunity to thank the guest speaker for sparing his time...

December, 2012 3 NIRC-ICSI Newsletter

From the Chairman

As a part of our effort to promote cultural activities on 18th

November, 2012 NIRC-ICSI jointly with its GurgaonChapter organised Diwali celebrations for members & theirfamilies at a Get Together –Zangoora Show (TheatricalPerformance) at Kingdom of Dreams, Gurgaon. It wasattended by approx. 180 members & their families,members thoroughly enjoyed the event. It provided muchneeded reprieve from the daily routine and provided aplatform for families and members to interact and bondtogether.I thank CS Dhananjay Shukla ,Regional CouncilMember & CS Punit Handa, Chairman Gurgaon Chapterfor excellent coordination to make this event possible.On 19th November, 2012 NIRC-ICSI organised a meeting ofCompany Secretaries in Practice on the topic “RecentDevelopments in Capital Market” at ICSI-NIRC Building.CS Nitin Somani was the guest speaker on the occasion.The meeting was attended by more than 40 members. I takethis opportunity to thank the guest speaker for sparing histime and sharing his rich experience with the delegates.On 23rd November, 2012 NIRC-ICSI organized a StudyCircle Meeting on the topic “Issue relating to ManagerialRemuneration” at New Delhi YMCA Conference Hall,New Delhi. CS P K Rustagi was the guest speaker on theoccasion. The meeting was attended by more than 60members. I take this opportunity to place on record mysincere gratitude to the guest speaker for sparing hisvaluable time & sharing his words of wisdom with thedelegates. Various Study groups have also organized theirrespective meetings during the month of November, 2012.In another effort to work together with various arms ofour esteemed Institute on 24th November, 2012 NIRC-ICSI jointly with CCGRT organised a seminar on the topic“Turnaround Management & Corporate Restructuring”at Hotel Le Meridien New Delhi. CS Nesar Ahmad,President, ICSI was the Chief Guest on the occasion &CS S N Ananthasubramanian, Vice President, ICSI wasthe Keynote speaker. The seminar was attended byapprox. 350 members. There were galaxy of speakers fromvarious organisations. I take this opportunity to expressmy sincere thanks & gratitude to the Chief Guest, Keynotespeaker, Guest speakers for sparing their time & sharingtheir rich experience with the delegates. Mr RanjeetPandey, our Immediate Past Chairman took excellentinitiatives to make this programme a great success.As another innovative initiative on the same day the ICSIconvocation was also organised at Hotel Le Meridien, NewDelhi. Dr. Ashok K Chauhan, Founder President, RitnandBalved Eduation Foundation (Amity Education Group)was the Chief Guest on the occasion. CS Nesar Ahmad,President, ICSI, CS S N Ananthasubramanian, VicePresident, ICSI, CS N K Jain, Secretary & CEO , ICSI, CSSutanu Sinha, Chief Executive-Designate, ICSI and mostof our Regional Council Members, NIRC-ICSI were

present. The convocation was attended by approx. 350members from the Northern Region & their relatives &friends. The hall was full of excitement & it was a greatencouraging experience for all of us. We are getting requestsfrom those who qualified in last few years that they alsowish to have the privilege of attending the Convocation asthey liked the concept & the event very much. I can assureall the future members that henceforth, this will become asix monthly event and all the lucky members can celebratethe big day of their life together. The Press & Media alsocovered it quite elaborately & we were able to work towardsour goal of making brand CS strong & visible.Friends, this year apart from organising variousprofessional development programs, NIRC-ICSI isorganising various cultural & sports programs for thebenefit of members. On 25th November, 2012 NIRC-ICSIorganised first Regional Sports Competition at S D GirlsSenior Secondary School, New Delhi. Membersparticipated in Carrom, Chess, Table Tennis, HurdleRace, Rock Climbing and Disc Throw etc. in goodnumber. CS Manish Gupta, Chairman, Cultural & SportsCommittee coordinated the event and we were able tofind some real good Players amongst our members. Thewinners & runner ups of the each activity participatedin the 1st National level sports competition organized byWIRC-ICSI on 2nd December, 2012 at Surat. I personallyjoined the team at Surat and I am happy to share thatthere also NIRC was at the top and all the six Membersrepresenting NIRC won various Gold & Silver medals.We made a clean sweep in Table Tennis & Disc Throw asboth the Medals were won by our team. It is a matter ofgreat pride that our members at NIRC excel not only inacademics but sports as well.During the month of November, 2012, NIRC-ICSI alsoorganized various training programs like MSOP, EDP &SIP for the students.Forthcoming Programs:As another innovation we have decided to do somethingbeyond the placement. This is Another First and we areholding a “HR Conclave” in the evening at Le Meridianon 14th December,12 .The idea is to showcase ourprofession to HR community & encourage them to employour members in positions across the organization & lookat us as a Financial, Commercial, Legal and CorporateManager all rolled into one. We wish to invite all top HRprofessionals of NCR to associate with us & partner inthe growth of our profession.On 15th December, 2012 NIRC-ICSI is organizing First allRegional Councils joint program & Punjab StateConference hosted by its Jalandhar Chapter on the topic“Empowering SME’s & Going Beyond” at HotelRamada City Centre, Namdev Chowk, Jalandhar. Thiswill be followed by a complimentary visit to Amritsar on


16th December where we visit Golden Temple & WagahBorder alongwith other Historic Monuments. I requestall of you to join the event with your families and takethe blessings from the Holy visit of Amritsar On 18th

December, 2012 NIRC-ICSI is organizing a Study CircleMeeting on the topic “Joint Venture Agreement“ and ameeting of Practicing Company Secretaries on the topic“Societies and Firms-Regulatory & Compliances“ on 21st

December, 2012 at YMCA Conference Hall, New Delhi.On 22nd December, 2012 NIRC-ICSI is organizing aseminar on the topic “Embracing InformationTechnologies for Professional Excellence“ at New Delhi.On 29th December,12 we are organizing Members GetTogether for New year celebrations at Masonic Club,Janpath this time.This is a very central location & I hopemore members will be able to Join with families.I takethis opportunity to wish all the members of NIRC Familya Happy & Prosperous, 2013 well in advance.Friends, as you are kindly aware that on 5th January,2013, NIRC-ICSI is organizing another CampusPlacement for providing the training to the students &placement to the newly admitted members of theInstitute. I look forward for your support and request tokindly come forward for helping our younger brothers &sisters who are searching for the Training/Job.I urgeupon all the corporate mentors & senior members to comeforward to make this event successful and contributeback to our esteemed profession.On 15th January, 2013 NIRC-ICSI is planning to organizeanother Students’ Conference & Cultural Program forstudents at Siri fort Auditorium, Delhi. The details of allthese programs are published elsewhere in the Newsletterfor your reference. I earnestly appeal to all of you to supportNIRC in making all these programs a grand success.We at NIRC are trying our best this year to gather all ourpositive energies to perform & service all ourstakeholders. I draw inspiration from a quote “The onlytime Success occurs before work is in the Dictionary”.We are very focused on working tirelessly to take ourprofession to greater heights.I once again request you all to kindly send your valuablesuggestions & feedbacks for the improvement of theactivities of NIRC. Feel free to contact me [email protected] best regards, Yours sincerely,

(CS RAJIV BAJAJ)[email protected]

5th December, 2012 Mobile : 09811453353

From the Chairman

In recent past, some of our members have died leaving behindthe spouse and minor children. In some cases providingadequate financial assistance to the bereaved family becomesan impediment. Although the Managing Committee of theCSBF wanted to help the bereaved family members, but itwas constrained to do so in view of financial position of theFund. At present around 8000 members are the members ofthe CSBF. The fund can provide the much needed financialassistance in such cases if the corpus of the Fund increasessubstantially which is possible if more number of membersare enrolled to the fund. The members in all earnestness are therefore sincerelyrequested to become the members of the CSBF by payingone time Life membership fee of Rs. 7,500/-The payments made to the Fund are exempted underSection 80G of the Income Tax Act, 1961.The members have to just fill up Form-A (available on the web-site of the Institute, i.e. www.icsi.edu) and send the same alongwith a cheque for Rs. 7,500 favouring‘ Company SecretariesBenevolent Fund’ payable at New Delhi to NIRC Office.Following benefits are presently provided by the CSBF1. Financial assistance in the event of death of a member

of CSBFUpto the age of 60 years

• Group Life Insurance Policy for a sum of Rs.2,00,000; and

• Upto Rs. 3,00,000 in deserving cases on receipt ofrequest subject to the Guidelines approved by theManaging Committee from time to time.

Above the age of 60 years• Upto Rs. 2,00,000 in deserving cases on receipt of

request subject to the Guidelines approved by theManaging Committee from time to time.

2. Other benefits (in deserving cases on receipt of requestsubject to the Guidelines approved by the ManagingCommittee from time to time).

Reimbursement of Medical Expenses• Upto Rs.60,000

Financial Assistance for Children’s Education (one time)• Upto Rs. 10,000 per child (Maximum for two

children) in case of the member leaving behindminor children.

For more details please visit www.icsi.edu.

AN APPEAL FOR BECOMING MEMBER OF CSBF


From the Desk of Editor

Professionally yours,

(CS MANISH GUPTA)[email protected]

5th December, 2012 Mobile : 09212221110

“Relativity applies to physics, notethics” –Albert Einstein

Dear Professional Colleagues,Values and ethics are asimportant as efficiency andcompetence for a professional.With the world becomingsmaller and closer, most of thefacilities are available to allfirms small and big. What nowmakes a difference is values and

high ethical standards one keeps to maintain; integrity,independence and excellence in profession.In the wake of competitive time and changing globalenvironment, it is important for all of us to keep pacewith the changing time by developing new skills andoffering value added services to the Industry, theregulators and the society. As professional knowledgebecomes obsolete almost as quickly as it’s acquired, anindividual’s knowledge is becoming outdated at a muchfaster rate than ever before. Therefore, we ought to keepourselves abreast of the latest developments taking placearound us. Some of the latest developments are beingsummarised below for your reference:• BSE vide its circular dated 26th November 2012,

desired the companies, as part of one of theconditions for listing on SME platform through IPO,to file a compliance certificate by a PracticingCompany Secretary as per the guidance note issuedby the Institute of Company Secretaries of India asand when such a certification is made applicableby the SME Platform of BSE Ltd.

• The Director General of Income Tax (System) hasextended the time limit for filing ITR-V formsrelating to Income Tax Returns filed electronically(without DSC) for A.Y. 10-11 & 11-12 upto 31stDecember, 2012 or within a period of 120 days fromthe date of uploading of the electronic return data,whichever is later. This direction is issued tomitigate the hardship and grievance of the taxpayers who have been prevented by reasonablecauses to file the ITR-V in time.

• The MCA vide its General Circular No. 35/2012dated 05-11-2012 had prescribed a revisedprocedure to be followed for appointment of costauditors. It has been observed that a large numberof cost auditors have defaulted in filing the requiredForm 23D within the stipulated time. All thedefaulting cost auditors are given an opportunityto file their required Form 23D that have alreadybecome due till date, by December 16, 2012, otherwisethe names of such defaulting members shall be sentto the Institute on December 17, 2012 intimating theInstitute to initiate Disciplinary Proceedings against

them under the relevant provisions of Cost andWorks Accountants Act, 1959.

• MCA vide its General Circular No. 36/2012 dated06-11-2012 notified that MCA is regularly receivingrequests from the companies and cost auditors formaking corrections in the e-forms 23C & 23D inrespect of minor typographical errors or othermistakes such as incorrect financial year, incorrectname of the cost auditor or the cost audit firm,incorrect PAN number, incorrect scope of audit, etc.In all the approved cases the companies and costauditors shall be required to file fresh e-forms 23C &23D containing correct particulars, along with theapplicable fee and additional fee

• E-Court fee system launched in Delhi. Easilyaccessible web based secure system, fasterprocessing. Single court fee receipt of exactdenomination.

• Service Tax Authorities vide its Circular No. 165/16/2012–ST dated 20-11-2012, restored Old ServiceTax Accounting Code for 120 services. Restorationof service specific accounting codes is done thepurpose of payment of service tax.

• MCA has activated Validation Tool & Filing Manualfor XBRL Cost Audit Report and Compliance Reportand has released the Form I XBRL for filing XBRLdocument in respect of cost audit report and otherdocuments with the Central Government and FormA XBRL for filing XBRL document in respect ofcompliance report and other documents with theCentral Government. Filing of the Cost Audit Reportand Compliance report on the MCA portal has alsoenabled w.e.f. 02-12-2012.

We request you to kindly come forward with yoursuggestions & feedback on the programs to be organisedby NIRC and also on the contents of ICSI-NIRCNewsletter for betterment of the activities of NIRC andalso enriching the contents of Insight.I on behalf of the whole NIRC wish you and your familya VERY HAPPY, PROSPEROUS, HEALTHY, WEALTHYAND FRUITFUL NEW YEAR 2013. Let the New Yearbring peace and tranquility and let the world prospersin all fronts for humanity. NIRC wishes all members &students Seasons Greetings and Merry Christmas.Witg warm regards,


Forthcoming Programs

COMPULSORY ATTENDANCE OF PROFESSIONAL DEVELOPMENT PROGRAMS BY THE MEMBERS OF ICSI

1. Current block of three years April 1, 2011 to March 31, 2014

2. Minimum number of Programme Credit Hours (PCH) to 15 PCH in each year or 50 PCH in a block be acquired by Members in Practice of three years w.e.f. April 01, 2011

3. Minimum number of PCH to be acquired by Members in Employment 10 PCH in each year or 35 PCH in a block(i.e. members in whose name Form 32 has been filed to work as CS of three years w.e.f. April 01, 2011under the provisions of Sec. 383A of the Companies Act, 1956)

4. Min. number of PCH to be acquired by Members above theage of 60 years

Presently the members of the age of 65 years are not required to obtainPCH. This age limit stands reduced to 60 years and the members abovethe age of 60 years shall be requied to obtain 50% of the PCH requiredto be obtained by the members below 60 years w.e.f. April 01, 2011.

FORTHCOMING PROGRAMS OF NIRC-ICSIDay & Program Topic Venue Timings Credit Fees Details onDate Hours Page No.Saturday, Punjab State Empowering Hotel Ramada 11:00 am to 4 Rs.1900*15.12.2012 Conference SME's & Going City Centre, 7.00 p.m. Free for Corp.

Beyond Namdev Chowk Mem.of NIRC 21 Jalandhar

Sunday, West Zone will be informed CMC Ltd; 6:00 pm 1 Free16.12.2012 Study Group through Janak Puri, 20

Meeting e-mail New DelhiTuesday, Study Circle Joint Venture New Delhi 6:00 pm 1 Free18.12.2012 Meeting Agreement YMCA 20

New DelhiFriday, Meeting of Societies & Firms New Delhi YMCA 6:00 pm 1 Free 2021.12.2012 CS in - Regulatory & New Delhi

Practice Compliances

Friday, Capacity Emerging Gurgaon For details, please contact Gurgaon Chapter21.12.2012 Building Opportunities

Workshop for PCSSaturday One Day Embracing Hotel Le-Meridien 9:30 am to 4 Rs.2250*22.12.2012 Seminar Information Janpath, 5.00 p.m. Free for Corp. 22

Technologies for New Delhi Mem.of NIRCProfessionalExcellence

Saturday, East Zone Drafting to the Mother Teresa 6:00 pm 1 Free22.12.2012 Study Group Reply of Show Public School 20

Meeting Cause Notices Preet ViharDelhi

Sunday, North Zone will be informed Technia Institute 6:00 pm 1 Free23.12.2012 Study Group through of Applied Studies 20

Meeting e-mail Pitam Pura, DelhiSaturday, New Year Eve For Members & Masonic Club 07:30 pm 1 Rs. 500*29.12.2012 Celebration & their families Janpath Free for Corp. 02

Dinner New Delhi Mem.of NIRCSaturday, Campus For Members & ICSI-NIRC Buiding 10:00 am - Free05.01.2013 Placement Students Prasad Nagar, -

New DelhiTuesday, PDP for Sirifort Auditorium 10:00 am 8 PDP Hrs. Rs. 50015.01.2013 Students & Khel Gaon for Students -

Cultural Eve. New Delhi*Inclusive of Service Tax


COMPLIANCE CHECKLIST FROM 1ST DECEMBER 2012 TO 10TH JANUARY, 2013

Sr. Activities Sections/Rules/ Acts/Regulations, Compliance To whom toNo. Clauses, etc. etc. Due Date be submitted

1. Last Date for payment of Excise Rule 8 Central Excise 05th December Central ExciseDuty Non SSI units (November) Rules, 2002 *06th December Authorities*(in case of Payment throughInternet banking)

2. Monthly Return of information Rule 9A CENVAT Credit 10th December Central Exciserelating to Principal Inputs Rules, 2004 Authorities(November, 2012) (Form No. ER-6)

3. Filing of Return of Central Excise Rule 12 / Rule 9(7) Central Excise 10th December Central Exciseand Cenvat Credit for the month of Rules, 2002/ AuthoritiesNovember, 2012 (Form No. ER-1) CENVAT Credit(Non SSI Units) Rules, 2004

4. Monthly Excise return by EOU for Rule 17(3) Central Excise 10th December Central Excisethe month of November, 2012 Rules, 2002 Authorities(Form No. ER-2)

5. Last Date for payment of Excise Rule 8 Central Excise 05th January Central ExciseDuty Non SSI units (December) Rules, 2002 *06th January Authorities*(in case of Payment throughInternet banking)

6. Filing of Return of Central Excise Rule 12 / Rule 9(7) Central Excise 10th January Central Exciseand Cenvat Credit for the month Rules, 2002/ Authoritiesof December, 2012 (Form No. ER-1) CENVAT Credit(Non SSI Units) Rules, 2004

7. Monthly Return of information Rule 9A CENVAT Credit 10th January Central Exciserelating to Principal Inputs Rules, 2004 Authorities(December, 2012) (Form No. ER-6)

8. Monthly Excise return by EOU Rule 17(3) Central Excise 10th January Central Excise(Form No. ER-2) for the month of Rules, 2002 AuthoritiesDecember, 2012

SERVICE TAX RELATED COMPLIANCES9. Pay Service Tax in Challan Section 68 Read Finance Act, 1994 05th December Service Tax

GAR – 7, collected for the month with Rule 6 Service Tax Rules, *06th December Authoritiesof November 2012 by persons 1994other than individuals proprietorsand partnership firms. *(in case ofPayment through Internet banking)

10. Pay Service Tax in Challan GAR – 7, Rule 6 Service Tax 05th January Service Taxcollected for the Quarter ended 31st Rules, 1994 *06th January AuthoritiesDecember 2012 by individualsproprietors and partnership firms.*(in case of Payment throughInternet banking)

11. Pay Service Tax in Challan GAR 7 Rule 6 Service Tax 05th January Service Taxcollected for the month of December Rules, 1994 *06th January Authorities2012 by persons other than individuals,proprietors and partnership firms*(in case of Payment through Internetbanking)

CENTRAL EXCISE RELATED COMPLIANCE

Compliance Checklist




INCOME-TAX RELATED COMPLIANCES

12. Contractor’s Bill/Advertising/ Section 194C Income-tax Act, 07th December Income TaxProfessional service Bill - TDS Section 194J 1961 Authoritiescollected for the previous monthSection 194J (November, 2012)

13. Monthly payment of TCS Section 206 Income-tax Act, 07th December Income Tax(November, 2012 ) 1961 Authorities

14. TDS from Salaries for the previous Section 192 Income-tax Act, 07th December Income Taxmonth (November 2012) 1961 Authorities

15. Deposit TDS from salaries for the Section 192 Income-tax Act, 07th December Income Taxprevious month in Challan No.281 1961 Authorities(November)

16. Monthly payment of TCS Section 206 Income-tax Act, 07th January Income Tax(December) 1961 Authorities

17. Pay Advance Tax Section 211 Income Tax Act, 15th December Income Tax1961 Authorities

18. Issue TDS Certificate in form 16A Section 203 Income Tax Act, 31st December Income Taxto vendors (with respect to TDS 1961 Authoritiesdeducted in the previous month)

19. TDS from Salaries for the previous Section 192 Income Tax Act, 07th January Income Taxmonth (December) 1961 Authorities

20. Contractor’s Bill/Advertising/ Section 194C Income Tax Act, 07th January Income TaxProfessional Service Bill - TDS Section 194J 1961 Authoritiescollected in the previous month(December)

21. Deposit TDS from salaries for the Section 192 Income-tax Act, 07th January Income Taxprevious month in Challan No.281 1961 Authorities(December)

COMPANY LAW/LLP RELATED COMPLIANCES22. Due date for filing e-forms 23 Circular No. Companies Act, 15th December Registrar of

ACXBRL & 23ACAXBRL for AGM 34/2012 1956 or due date of Companiesheld for the Financial Year ended filing whichever31st March, 2012 is later

23. Due date of filing of Form 23B for Section 224 Companies Act, 23rd December Registrar ofAppointment of Auditors for the 1956 Companiesfinancial year 2012-2013

24. Due date of filing of Cost Audit Circular No. Cost Accounting 31st December Registrar ofReport and Compliance Report in 18/2012 Records Rules, 2011 CompaniesXBRL mode and CostAudit

Report Rules, 2011RBI RELATED COMPLIANCES

25. Monthly return (NBS-6) on exposure Para 13B NBFC Prudential 07th December RBIto capital market Norms (Reserve

Bank) Directions,1998

26. Monthly Return on Important DNBS (RID) C.C. Circular 07th December RBIFinancial Parameters No. 57/02.05.15/

2005-06 dt. 6.9.05



27. Reporting of actual transactions of ECB Rules FEMA, 1999 08th December RBI throughECB in form ECB-2 within 7 working Authorizeddays (November) Dealer

28. Monthly statement of short term DNBS (PD).CC. No. Circular 10th December RBIdynamic liquidity in Form ALM-I 15/02.01/2000-2001

dated June 27, 200129. File Prudential Norms Return in Para 21 NBFC-D Prudential 31st December Reserve Bank

Form NBS-2 Norms (within 3 of Indiamonths of theexpiry of thehalf year as onSeptember)

30. Monthly return (NBS-6) on exposure Para 13B NBFC Prudential 07th January RBIto capital market Norms (Reserve

Bank) Directions,1998

31. Monthly Return on Important DNBS (RID) C.C. No. Circular 07th January RBIFinancial Parameters 57/02.05.15/2005-06

dated 6.9.200532. Reporting of actual transactions of ECB Rules FEMA, 1999 08th January RBI through

ECB in form ECB-2 within 7 working Authorizeddays (December) Dealer

33. Monthly statement of short term DNBS (PD).CC.No. Circular 10th January RBIdynamic liquidity in Form ALM-I 15/02.01/2000-01

dated 27.6.2001ECONOMIC, INDUSTRIAL & LABOUR LAW RELATED COMPLIANCES

34. Monthly payment of Provident (a) Paragraph 38 of (a) Employees’ 15th December Provident FundFund (PF) (Non Corporate) Employees Provident Provident Funds Authorities

Funds Scheme, 1952 and Misc. Provisions Trustees of(b) Section 418 of the Act, 1952 Provident FundCompanies Act, 1956 (b) Exempted

Scheme

35. File monthly return for employees Pragraph 20(2) read The Employees 15th December Provident Fundleaving/joining during the month with Paragraph 36 Pension Scheme, Commissionerof November(Form No.5) (1) & (2) 1995 (For exempted

establishmentsunder employeesProvident Fund &Misc. ProvisionsAct, 1952)

36. i) File monthly Return of employees Paragraph 10 The Employees 15th December Provident Fundentitled for membership of Insu- Deposit Linked Commissionerrance Fund (Form No.2(IF)) Insurance Scheme,

ii) File monthly Return for members 1976 (For exemptedof Insurance Fund leaving service establishments underduring the month of November Employees Provident(Form no. 3(IF)) Fund and Misc.

iii) File monthly return of members Provisions Act, 1952)joining service during the monthof November (Form no.F4(PS))

RBI RELATED COMPLIANCES




ECONOMIC, INDUSTRIAL & LABOUR LAW RELATED COMPLIANCES

37. Payment of ESI contribution for the Regulation 31 Employees’ State 21st December ESIC Authoritiesprevious month Insurance Act, 1948

and Employees StateInsurance (Gen.)Regulations, 1950

38. Monthly return of Provident Fund Paragraph 38 of Employees 25th December Provident Fundfor the previous month (November) Employees’ Provident AuthoritiesProvident funds Provident Act, 1952 Funds and Misc.

Scheme, 1952

39. Monthly return of Provident Fund Paragraph 36 The Employees’ 25th December Provident Fundfor the previous month with respect Provident Funds Authoritiesto International Workers. Scheme, 1952

40. In case of graduate, technician Section 2 Rule Apprentices Act, 31st December Director-Regional(vocational), send a record of work 14(11) 1961 and Board offor each quarter in Form Apprenticeship ApprenticeshipApprenticeship 3 in Schedule III Rules, 1962 Training

DEPOSITORIES41. Submit monthly statement on Regulation 54(5) SEBI (Depositories 07th December Depositories

substitution of names of depositories & Participants)in the previous quarter. Regulations, 1996

42. Submit monthly statement on Regulation 54(5) SEBI (Depositories 07th January Depositoriessubstitution of names of depositories & Participants)in the previous quarter. Regulations, 1996

43. Quarterly certificate for demat/ Regulation 54(5) SEBI (Depositories 07th December Depositoriesremat of shares done during previous read with NSDL & Participants)quarter Circular No. NSDL Regulations, 1996

/SG/015/9944. Quarterly certificate for demat/ Regulation 54(5) SEBI (Depositories 07th January Depositories

remat of shares done during read with NSDL & Participants)previous quarter Circular No. NSDL Regulations, 1996

/SG/015/99

Note : While every care has been taken in the preparation of this Compliance Check List for the Month of December,2012, to ensure its accuracy at the time of publication, NIRC – ICSI assumes no responsibility for any errors whichdespite all precautions, may be found therein. Members are requested to check the latest position with the originalsources before acting upon on the information published in this newsletter. Neither this Newsletter nor the informationcontained herein constitutes a contract or will form the basis of a contract. The material contained in this documentdoes not constitute/ substitute professional advice that may be required before acting on any matter.


ADVERTISEMENT FOR “NIRC-ICSI NEWSLETTER” NIRC solicits your kind patronage in the form of advertisement for its Monthly Newsletter as per the tariff* given below :

Per Issue 6 Issues 12 Issues(Rs.) (Rs.) (Rs.)

Back cover (Colour) 25,000 1,25,000 2,40,000Inside Cover (Colour) 20,000 1,00,000 1,90,000Full Page Inside (Colour) 15,000 80,000 1,50,000Inside page (Black & White) 10,000 55,000 1,00,000Inside Half page (Black & White) 6,000 35,000 65,000


Members Column

ACROSS

2. _________________of a fixed asset is an abrubtdecrease of its fair value due to damage, absolecenseetc. When impairment of a fixed asset occurs, thebusiness has to decrease its value in the balancesheet and recognize a loss in the income statement.(10)

6. The legal advisor to the State Government is knownas____________ - General. (8)

7. All those who are dealing with the company areexpected to know that contents of the Memorandumand Articles of Association. This iscalled____________ Notice. (12)

8. The last page of the record of proceedings of eachmeeting in minutes book shall be dated and signedby the Chairman of the same meeting within aperiod of 30 days of the conclusion of the meetingor in the event of death or inability of the Chairmanwithin that period by a _______________dulyauthorized by the Board for that purpose. (8)

9. _____________means Plaint and writtenstatement. (8)

10. Someone who takes the law into his/her ownhands by trying and/or punishing another personwithout any legal authority.(9)

12. _____________is a Latin expression which means“let him or her beware”. (6)

DOWN

1. Under IPC, Section-73 makes provision of___________Confinement. (8)

3. ___________is an invitation to offer. (6)4. Within the meaning of provisions of section 67 of

the Transfer of Property Act the mortgage remediesby suit are for sale or for _____________ . (11)

5. The jurisdiction of the M.R.T.P. commission withrespect to ______________trade practices is notexercisable upon/under its own knowledge orinformation. (12)

11. Someone who assists in the commission of a crimeand, unlike a mere accessory, is usually present ordirectly aids in the crime (like holding a gun on thebank guard while the vault is looted, or holding avictim of assault and battery). (10)

We appreciate the active participation by all the participating members !!

CROSSWORD

The following members/students sentcorrect entry to the above Crossword:

CS Sarita Lalwani ACS-28875CS Amita Verma ACS-26904CS Mukesh Dagar ACS-30932CS Khusbu Mohanty ACS-28675CS Sangeeta Harpalani FCS-6094CS Nikita Dubey ACS-27752 CS Rupa Agarwal ACS 23376) CS Kanishek Vardhen ACS-27298 CS Chetan Sharma ACS-23055 Ms. Megha Jain Regn No. 220793241/08/2009

Members are requested to send their answers to thecrossword to [email protected] All correct entries will berecognized in the next NIRC Newsletter. Answers to thiscrossword will be published in next Newsletter.

ACROSS1. Government4. Small6. Conveyance7. Exparte8. Patent10. Replivin

ANSWERS TO THE CROSSWORD PUBLISHED IN NOVEMBER2012 ISSUE OF NIRC-ICSI NEWSLETTER ARE AS UNDER:

DOWN2. Emolument3. Abrogate5. Appearance8. Probate9. Refund


Students Column

MSOP, EDP, SIP & OTHER PROGRAMS HELDDate Program Chief Guest /Speakers Present

Valedictory Function of 169th

Management SkillsOrientation Program (MSOP)

Chief Guest: CS Jayant SoodGuest of Honour: CS SandeepMasand

CS Rajiv Bajaj, CS Deepak Kukreja,CS Alka Arora and Students

26.11.2012

Inauguration of 169th

Management SkillsOrientation Program (MSOP)

Chief Guest: CS B.S. BhargavaGuest of Honour: CS AmitManchanda

CS Rajiv Bajaj, CS NPS Chawla,CS Deepak Kukreja, CS ManishGupta, CS Ranjeet Pandey, Mr. T.R.Mehta, CS Alka Arora and students

06.11.2012

61st Student InductionProgram

Members of the Institute & otherProfessionals

Students of the Institute26.10.2012 to3.11.2012

62nd Student InductionProgram

Members of the Institute & otherProfessionals

Students of the Institute16-23.11.2012

is organising

CAMPUS PLACEMENTfor Members (for Job) and Students (for 15 months Management Training)

on

Saturday, the 5th January, 2013 from 10 AM onwardsat

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

Interested Companies and Practising Company Secretariesare requested to participate in the above Campus Placement

and select the required candidates.

CORPORATE MEMBERSHIP SCHEME(1.10.2012 TO 31.3.2013)

In order to provide an opportunity to members to join Corporate Membership Scheme of NIRC who could not join thescheme earlier, a half yearly scheme for the period from 1.10.2012 to 31.3.2013 has been launched. The Interestedmembers may join the half yearly corporate members scheme by making a payment of Rs. 6742/- inclusive of servicetax by cheque drawn in favour of NIRC of ICSI. The members shall be eligible to attend all the programs (exceptworkshops & residential Programs) till March 31, 2013 free of cost.Members may send cheque in favour of NIRC of ICSI to Deputy Director, NIRC of ICSI, 4, Prasad Nagar InstitutionalArea, New Delhi-110 005 (Phone: 011-49343000; E-mail: [email protected])

For Details please visit www.icsi.edu/niro


LEGAL UPDATES

Legal Updates

CASE-1:[In the Supreme court of India]Dropti Devi & Anr...petitioner

Vs.Union of India & Ors…..Respondent

[02nd July, 2012]Brief facts of the case:The central issue in this petition under Article 32 of theConstitution concerns constitutional validity of Section 3(1)of Conservation of Foreign Exchange and Prevention ofSmuggling Activities Act, 1974 (for short, ‘COFEPOSA’) tothe extent it empowers the competent authority to make anorder of detention against any person ‘with a view topreventing him from acting in any manner prejudicial tothe conservation or augmentation of foreign exchange’.The first petitioner – Dropti Devi – is the mother of secondpetitioner – Raj Kumar Aggarwal. In respect of secondpetitioner an order of detention has been passed on September23, 2009 by Smt. Rasheda Hussain, Joint Secretary to theGovernment of India, specially empowered under Section3(1) of the COFEPOSA with a view to preventing him fromacting in any manner prejudicial to the conservation andaugmentation of foreign exchange in future, it is necessary tomake the detention order. On February 17, 2009 the premisesof Ambika Electronics was raided by the Office of theDirectorate of Enforcement, New Delhi. In the course ofsearches and the follow up action it was revealed that thedetenue was indulging in hawala activities. The enforcementauthorities took into custody the passport of second petitioner(hereinafter referred to as ‘detenue’)Learned counsel for the petitioners Mr. Vikram Chaudhari,argued that Articles 14, 19 and 21 of the Constitution do notcontemplate preventive detention for an ‘act’ where nopunitive detention (arrest and prosecution) is evencontemplated or provided under law. Such an ‘act’ cannotbe made the basis for a preventive detention and such an‘act’ could not be termed as prejudicial so as to invoke thepower of preventive detention and, therefore, Section 3(1)of COFEPOSA to the extent noted above is unconstitutional.Elaborating his arguments, Mr. Vikram Chaudhari submittedthat there were three other Central Preventive Acts apartfrom COFEPOSA, namely, (a) National Security Act, 1980,(b) Prevention of Blackmarketing and Maintenance ofSupplies of Essential Commodities Act, 1980 and (c)Prevention of Illicit Traffic in Narcotic Drugs andPsychotropic Act, 1974. In all these three enactments, thereare corresponding penal provisions in the form ofprosecution. However, in COFEPOSA viz., the power todetain a person to prevent him from indulging in anyprejudicial activities relating to conservation oraugmentation of foreign exchange is given although thereis no corresponding penal punitive law available.Relying on the decisions of this Court in Motor GeneralTraders and another v. State of Andhra Pradesh and others

learned counsel for the petitioners contended that impugnedportion of Section 3 might not have been unconstitutionalat the initial stage when it was enacted but by reason of thenew legal regime articulated in FEMA and replacement ofFERA by FEMA, the said provision has becomeunconstitutional in the changed situation.Mr. Vikram Chaudhari contended that preventive detentionwas aimed at preventing a person from committingprejudicial act which is necessarily an offence capable ofinviting penal consequences. If such prejudicial act was notprosecutable in law and such act has not been made part ofcriminal penal law, preventive detention of a person fromcommitting the prejudicial act which is not an offence isimpermissible.Mr. P. P. Malhotra, learned Additional Solicitor Generalstoutly defended the constitutional validity of the part ofSection 3(1) of COFEPOSA put in issue in the writ petition.He extensively referred to the provisions of FERA and FEMAand the preamble of COFEPOSA and submitted that dealingsin foreign exchange by a person other than authorisedpersons/dealers have serious and deleterious consequences.The foreign exchange is the most precious reserve fornational economy and necessary for the economic securityof the State and illegal and/or unaccounted transactionsthrough hawala have vide ramifications and are definitelyprejudicial to the conservation and augmentation of foreignexchange and since the need for conservation andaugmentation of foreign exchange resources of the countrycontinue to exist, preventive mechanism laid down inCOFEPOSA warrants its continuance and there is nothingunconstitutional about it.Mr. P.P. Malhotra submitted that the constitutional validityof COFEPOSA had already been upheld by a 9-Judge Benchof this Court in Attorney General for India and others v. AmratlalPrajivandas and others. In Amratlal Prajivandas this Courthas held that Parliament was competent to enact COFEPOSA.Once constitutional validity of COFEPOSA has been upheldby a 9-Judge Bench of this Court, learned Additional SolicitorGeneral submitted that constitutionality of Section 3 wasnot open to challenge again.Observations of the Court:The menace of smuggling and foreign exchange violationshas to be curbed. Notwithstanding the many disadvantagesof preventive detention, particularly in a country like ourswhere right to personal liberty has been placed on a veryhigh pedestal, the Constitution has adopted preventivedetention to prevent the greater evil of elements imperilingthe security, the safety of State and the welfare of the Nation.The importance of foreign exchange in the development ofa country needs no emphasis. FEMA regulates the foreignexchange. The conservation and augmentation of foreignexchange continues to be its important theme. Althoughcontravention of its provisions is not regarded as a criminaloffence, yet it is an illegal activity jeopardizing the veryeconomic fabric of the country. For violation of foreignexchange regulations, penalty can be levied and its non-


Legal Updates

compliance results in civil imprisonment of the defaulter.The whole intent and idea behind COFEPOSA is to preventviolation of foreign exchange regulations or smugglingactivities which have serious and deleterious effect on thenational economy. On the touchstone of constitutionaljurisprudence, as reflected by Article 22 read with Articles14, 19 and 21, we do not think that the impugned provisionis rendered unconstitutional. There is no constitutionalmandate that preventive detention cannot exist for an actwhere such act is not a criminal offence and does not providefor punishment. An act may not be declared as an offenceunder law but still for such an act, which is an illegal activity,the law can provide for preventive detention if such act isprejudicial to the state security. Subject to the observations,the appeal is dismissed.

CASE-2:[In the High court of Karnataka at Bangalore]

S. Sreedhar...petitionerVs.

M/s Mahabaleshwar Auto Industries PrivateLimited…..Respondent

[07th June, 2012]Brief facts of the case:This case is filed under Section 10F of the Companies Act,1956 read with Section - 151 of CPC against the order dated06.01.2011 passed by the Hon’ble Company Law Board. TheCompany Law Board having in terms of its order dated06.01.2011, dismissed the company petition on a preliminaryissue of maintainability of the company petition. Holdingthat, the petition was not maintainable, inasmuch as it foundthat the petitioner did not qualify for relief either underSection - 111 or for an order under Section - 402 on thepremises as available under Section - 397 or 398 of the Act.For the reason that, the petitioner did not fulfill the requisitequalification of holding a minimum of 10% of theshareholding of the company in terms of Section - 399 ofthe Act, the company petition came to be dismissed.Aggrieved by this order, the Petitioner presented an appeal.Learned counsel for the appellant Submits that the CompanyLaw Board has committed an error in dismissing thecompany petition as not tenable by taking intoconsideration the submission of the learned counsel of therespondent-company before it, to the effect that in view ofthe stand taken by the petitioner in original suit No.870/2003, before the City Civil Court, the company petitionerwas not entitled for claiming relief under Section - 111, asthe stand by the company petitioner was that he was not ashareholder on his own.The pleading before the Civil Court was that, the companypetition was not tenable on the ground that there is neitherthe factual provision nor the legal provision.The company petitioner infact had sought for rectifying theRegister to depict his name as shareholder of 35 number ofshares as he has already contributed by investing in theCompany, etc., that the suit had been filed for recovery ofthe funds, though the company petitioner had infact at onepoint of time made an offer to the other shareholders of the

company to take back his shares and the Company LawBoard not appreciating the factual position has dismissedthe company petition as not tenable on either groundnamely, that the petitioner was neither the shareholder northe one holding 10% of the shares of the company andfurther submits that the order of the Company Law Board isnot tenable and is to be set-aside and the matter be remandedto the Company Law Board for fresh consideration.On the other hand, second respondent appearing in personsubmits that it is only the conduct of the appellant whichhas come in the way of the company allotting or recognizinghim as holder of 35 number of shares and that there wasinfact an agreement amongst shareholders for allotting thatnumber of shares in view of the contribution made by theappellant to the company, that when the appellant wantedto get back his amount in lieu of the shares, the question ofallotting or showing him as holder of 35 number of sharesdoes not arise. The agreement is not operationalised orgiven effect, in view of the conduct of the appellant.The Respondent also submits that, assuming for argumentsake and on the concession of the company that, if theappellant should withdraw his suit for recovery of theamount indicated therein, the company is ready to recognizethe appellant as shareholder of 35 number of shares andshall show this portion in the Register of the company. Butthe appellant cannot at the same time blow hot and cold byseeking the entire amount invested in the company in termsof the agreement by getting the shares allotted to him andhe cannot have both shares and the money and thereforeurges that the order of the Company Law Court indismissing the company petition on the preliminary issueis justified, and there is no need for alteration or interferencewith that order in this appeal.Observations of the Court:Insofar as the present appeal is concerned, we do not findthat the appellant does qualify for relief in terms of Sections- 397 or 398, as even the averment made is to the effect of theappellant being recognized as being entitled for 35 numberof shares and therefore if the number of shares in thecompany which are held by the shareholders is 500 innumber. As submitted by the respondent, 35 numbers ofshares does not qualify for 10% shareholding maintaining apetition under Section - 397 or 398 of Act.As to whether the extent of investment made by the appellantqualifies him for more than 35 number of shares or if 35number of shares are allotted to him he is still entitled forreturn of any further amount is not a matter which is neitherthe subject matter of the company petition nor could begone into in this appeal and is a disputed aspect.But unfortunately for the appellant, his petition did notmake much headway before the Company Law Board forwant of company petitioner having commensuratequalification and that being the factual position and notmuch in dispute, we do not find any occasion to interferewith the order of the Company Law Board dismissing thecompany petition on preliminary issue.However, it is made clear that dismissing the companypetition will not come in the way of the Company to showthe name of the appellant as holder of 35 number of shares in


lieu of the investment or the appellant continuing his effortsbefore the City Civil Court for recovery of any amount onwhatever premises he is putting forth and if he is so entitled.Subject to the observations, the appeal is dismissed.

CASE-3:[In the High court of Delhi at New Delhi]

Deepshika Kumari...petitionerVs.

Leela Infrastructure & Mining PrivateLimited…..Respondent[12th September, 2012]

Brief facts of the case:This petition under Section 138 of Negotiable InstrumentsAct (for short, „the Act), for seeking quashing of criminalcomplaint No. 463/2011 titled as “Leela Infrastructure &Mining Pvt. Ltd. Vs. Ms. Deepshikha Kumari”, pending inthe Court of Metropolitan Magistrate as also the impugnedorder dated 26.06.2010 of the learned MM, whereby she hasbeen ordered to be summoned.Petitioner is prosecuted on the allegations that a cheque ofRs.2.5 crore, given by her towards discharge of her liabilitiesof self, and also as guarantor of her brother Shri SangramVijay Singh and sister Smt. Deepanjali Singh, wasdishonoured on account of “insufficient funds” and, thatshe has not paid the cheque amount despite legal noticedated 06.05.2010. The grounds on which the quashing of thecomplaint and also the impugned order are sought are thatthe cheque in question was issued not towards discharge ofany legally recoverable debt or liability for herself or as aguarantor, as alleged, for her brother and sister, but it wasissued as a financial arrangement, that was arrived atbetween the parties by a Memorandum of Understanding(MOU) dated 05.10.2009.It was submitted that the presentation of the cheque inquestion was subject to contingency of encashment of chequeof Rs.75.00 lakh given by the respondent in the name ofSmt. Madhuri Singh and, further the receipt of sale proceedsof the property, in the account of the party of the First Partof the MOU. It was also submitted that the cheque in questionwas dated 05.10.2009, which was tampered with as dated15.10.2009.The learned counsel for the petitioner submitted, and whichwas not controverted, that the cheque of Rs.75.00 lakh, whichwas given by the respondent in the name of Mrs. MadhuriSingh, the 3rd and the confirming party to the MOU, wasdishonoured on presentation. Because of the dishonour of thischeque, the Confirming Party Mrs. Madhuri Singh had thegrievance and neither she, nor the other parties acted upon theMOU and ultimately this MOU never came to be acted upon. Itis also noted that not only it was stipulated in the MOU, but onthe back side of the cheque also it was mentioned that theencashment of this cheque was subject to the receipt of the saleproceeds of their share by the parties of the First Part. Thus, itcould be said that the said cheque was to be encashed undertwo contingencies, namely, on encashment of cheque ofRs.75.00 lakh, which was issued by the respondent in favour of

Ms Madhuri Singh, and on the receipt of the sale proceeds oftheir share in the property, by the party of the First Part. Therespondent was well aware that neither of the twocontingencies had occurred and that rendered the chequewithout any consideration and unenforceable, and resultantlynull and void. The dishonor of this kind of cheque could notdraw any adverse presumption against the drawer underSection 139 of the Act.On the other hand, the submission of learned counsel forthe respondent was that the cheque was given by thepetitioner towards discharge of her liability and, that ofother persons named in the MOU. It was submitted that asper Section 138 read with Section 139 of the Act, there was apresumption of the cheque having issued by the petitionertowards discharge of her legally recoverable debt or liabilityand thus, the onus to rebut the presumption was on thepetitioner. It was also submitted that the defense which wassought to be taken by the petitioner could not be gone intoat this stage and, could only be proved by trial.Observations of the Court:It is settled proposition of law that the presumption underSection 139 of the Act can be drawn only in cases wherefactual basis for drawing presumption exists and that thecomplainant, who seeks to draw such presumption is boundto establish the basis for drawing presumption.It is a settled law that under Section 138 of the Act, a chequedrawn by a person for the discharge in whole or in part ofany existing debt or liability would mean only the past andcurrent liability at the time when the cheque is issued. Thecheque issued in respect of uncertain future liabilities wouldnot attract the applicability of Section 138 of the Act.It is a known fact that cheque may be issued for several typesof transactions other than only towards discharge of debt orliability. For example, a cheque may be issued towardsreciprocal promises or as security or failed consideration, oras contingent on the drawee doing certain acts. All thesecategories of cheques may not fall within the rigour of Section138 of the Act. It will all depend upon the facts andcircumstances, under which the cheque in question is given.The test would be as to whether the cheque in question strictlyfalls within the provisions of Section 138 of the Act or not.It is settled law that a complaint can be quashed where theallegations made in the complaint, even if they are taken attheir face value and accepted in entirely, do not constituteany offence or make out a case alleged against the accused.The allegations in the complaint do not disclose any elementof criminal offence under Section 138 of the Act. The remedy,if any, the respondent had, was not by way of criminalproceedings, but somewhere else. In view of my abovediscussion, I, in exercise of power under Section 482 Cr.P.C., quash the complaint as also the impugned order dated26.06.2010. The petition stands disposed of accordingly.

Compiled byMs. Swati Chhabra, LCS

CS Manish Gupta, FCS

Legal Updates


HR Conclave

HR CONCLAVE ON COMPANY SECRETARY - VALUABLE INDUSTRY GUIDENIRC of ICSI is organising a First ever HR Conclave on Friday, the 14th December, 2012from 6.30 PM to 9.00 PM at Hotel Le-Meridien, Janpath, New Delhi which is to be attendedby the HR Managers/Directors of the various corporate houses. The idea is to do brandbuilding and create awareness about the profession of Company Secretaries.All Members are requested to encourage their HR Heads to participate in the event & sendtheir confirmation to NIRC-ICSI at the earliest.

WANTEDA COMPANY SECRETARY

A private limited company requires a qualified company secretary having1-2 years post qualification experience. Freshers who have obtained practicalexperience prior to qualifying may also be considered on merit. Applicant shouldbe willing to relocate to Delhi.

Interested candidates may apply within the next 15 days to:

The DirectorLondon Court of International Arbitration (India) Private Limited

301-A, World Trade Tower, Barakhamba LaneNew Delhi 110001

Attention Members!!!It has been brought to our notice that the monthly NIRC Newsletter – Insight which is dispatched toall the members for Northern Region on 8th & 9th of every month is either not being received bymembers at all or is being received quite late. It is also informed that NIRC is also sending e-newsletterby mass email to all the members from Northern Region, whose e-mail IDs are notified with us. Thesame is also uploaded on website www.icsi.edu/niro. In such instances, members are requested toinform NIRC office by e-mail at [email protected]. Members are requested to mention their name,membership No. and professional address with pin code Nos. in their request / complaint.


PROFESSIONAL DEVELOPMENT & TRAINING PROGRAMSNIRC ACTIVITIES

Date Program Chief Guest /Speakers Present

NIRC organised the following programs:

Two day RegionalConference onTransforming theProfession ThroughStrategic Performance(Host: Jaipur Chapter)

Chief Guest: Shri Ghanshyam Tiwari(Deputy Leader of Opposition RajasthanLegislative Assembly); Guest of Honour :CS Nesar Ahmad (President, ICSI), Chairmenof Technical Sessions & Guest Speakers:CS Sunil Goyal, Mr. M.K. Sharma (GeneralManager, SIDBI), Mr. H.P. Tiwari (ExecutiveDirector– Rajasthan Patrika), CS HitenderMehta, Mr. O P Dadhich (Commissioner–Service Tax, Jaipur), CS (Dr.) SanjeevGemawat, Mr. Suneel Keswani (CorporateTrainer), CS Umesh Ved, CS Atul Mehta,CS U.K. Chaudhary, CS Bimal Jain, Mr. SanjayGupta (Deputy Director, E-Governance,MCA) and CA Bhupendra Mantri.

CS Rajiv Bajaj, CS M.G. Jindal,CS Shyam Agrawal CS Avtaar Singh,CS Deepak Kukreja, CS Manish GuptaCS Ranjeet Pandey, CS Vineet KChaudhary, CS Vimal Gupta,CS Anshul Jain, CS Deepak Arora,CS C.M. Bindal, CS Mukesh Bansal,Mr. T.R. Mehta, Members andStudents

3-4.11.2012

News from NIRC

Vaishali Study CircleMeeting on LatestDevelopments in XBRL &Service Tax

CS Ranjeet Verma and members10.11.2012

Diwali Pujan CS Nesar Ahmad, CS N.K. JainCS Rajiv Bajaj, CS NPS Chawla,CS Deepak Kukreja, CS ManishGupta, CS Ranjeet Pandey, Officialsof NIRC, members and students

12.11.2012

West Zone Study CircleMeeting on Scope andCompliances of LabourLaw

CS M.K. Pandey CS Pradeep Debnath, CS AmitKaushal and members

17.11.2012

Zangoora Show(Theatrical Performance)for Members & theirFamilies at Kingdom ofDreams, Gurgaon

CS Rajiv Bajaj, CS NPS Chawla,CS Dhananjay Shukla, CS ManishGupta, CS Ranjeet Pandey, CS PunitHanda, members and their families

18.11.2012

Meeting of CompanySecretaries in Practiceon Recent Developmentin Capital Market

CS Nitin Somani CS Rajiv Bajaj, CS Dhananjay Shukla,CS Manish Gupta, CS Ranjeet Pandeyand members

19.11.2012

Study Circle Meetingon Issue relatingto ManagerialRemuneration

CS P.K. Rustagi CS Rajiv Bajaj, CS NPS Chawla,CS Avtaar Singh, CS Deepak Kukreja,CS Dhananjay Shukla, CS Ranjeet Pandey,CS Vineet K Chaudhary and members

23.11.2012

CMA Rajni Chawla

-

-

Seminar on TurnaroundManagement & CorporateRestructuring Jointlywith CCGRT

Presidential Address: CS Nesar Ahmad,President, ICSI; Key-note Address: CS S.N.Ananthasubramanian, Vice-President, ICSIGuest Speakers: CS Shashikala Rao,Mr. Kalpataru Tripathi, Partner, Amarchand& Mangaldas & Suresh A Shroff & Co;Mr. Pankaj Tewari, Senior ManagerPricewaterhouseCoopers and Prof. R BalaKrishnan

CS Rajiv Bajaj, CS Atul Mittal,CS Shyam Agrawal, CS NPS Chawla,CS Deepak Kukreja, CS ManishGupta, CS Ranjeet Pandey, CS VineetK Chaudhary and members

24.11.2012


Date Program Chief Guest /Speakers Present

News from NIRC

First Regional SportsCompetition

- CS Rajiv Bajaj, CS Atul Mittal,CS Avtaar Singh, CS Deepak Kukreja,CS Manish Gupta, CS Ranjeet Pandeyand members

25.11.2012

South Zone Study GroupMeeting on Practicalaspect & SecretarialCompliance on Manage-rial Remuneration &Loan to Directors

CS Sanjay Grover & CS Ashok Tyagi CS Navneet Arora, CS AwanishDwivedi and members

30.11.2012

North Zone StudyGroup Meeting onProfessional Ethics

CS S Kumar CS Chetan Gupta, CS Nitesh Sinhaand members

25.11.2012

East Zone Study CircleMeeting on Drafting ofthe Reply of ShowCause Notices

CS Rupesh Aggarwal CS Prashant Kumar Balodia andmembers

30.11.2012

ICSI Convocation-2012 Dr. Ashok K Chauhan, Founder President,Ritnand Balved Education Foundation(Amity Education Group)

CS Nesar Ahmad, CS S.N.Ananthasubramanian, CS N.K. Jain,CS Atul Mittal, CS Sutanu Sinha,CS Rajiv Bajaj, CS Shyam Agrawal,CS NPS Chawla, CS Ashu Gupta,CS Deepak Kukreja, CS Manish Gupta,CS Ranjeet Pandey, CS Vineet KChaudhary, members, students andofficials of the Institute and NIRC

24.11.2012

Final Sports Competitionat Surat

- CS Rajiv Bajaj and winners/runnersup members

02.12.2012

Investor Awareness ProgramsDate Program Chief Guest /Speakers

16.10.2012 Investor Awareness Program on Recent Mr. J K Bareja, FCS (Associate Professor, University ofDevelopments in Capital Market at JDM, Delhi) & CS Anupam JhaUniversity of Delhi, Delhi

20.10.2012 Investor Awareness Program on Understanding CS G P Madaan, Past Chairman, NIRC-ICSI & Mr. J Kthe Capital Market at Maharaj Agrasen Institute Bareja, FCS (Associate Professor, University of Delhi)of Management, Rohini, Delhi

6.11.2012 Investor Awareness Program on Recent CS G P Madaan, Past Chairman, NIRC-ICSI & Mr. J KDevelopments in Capital Market at Hindu Bareja, FCS (Associate Professor, University of Delhi)College, University of Delhi, Delhi

20.11.2012 Investor Awareness Program on Understanding Mr. J K Bareja, FCS (Associate Professor, University ofthe Capital Market at Delhi College of Advanced Delhi) & CS Anupam JhaStudies, Vikaspuri, Delhi

30.11.2012 Investor Awareness Program on Opening of Mr. J K Bareja, FCS (Associate Professor, UniversityDemat Account & Mutual Fund at SKV, of Delhi)Shalimar Bagh, Delhi


CHAPTERS ACTIVITIES

News from Chapters

Name of Date of Program/ Program/Meeting & topic Chief Guest/Speaker(s) Chapter Meeting & dignitariesAllahabad 29.9.2012 Study Circle Meeting on Challenges Faced by CS

30.9.2012 Study Circle Meeting on Revised E-forms4-11.11.2012 7th Student Induction Program

Chandigarh 14.10.2012 Valedictory Function of MSOPJodhpur 2.11.2012 19th Professional Development Program for Students

5.11.2012 Career Guidance Camp at Delhi Public School, Jodhpur15-21.10.2012 47th Student Induction Program16-22.11.2012 48th Student Induction Program21.11.2012 Industry Visit to Live Stock Exchange Operations

Gurgaon 01-9.11.2012. 14th Student Induction Program 03.11.2012 Investor Awareness Program at Gov Sr.Sec. School, Village-Dadro Toi,

Distt-Jhajjhar18.11.2012 Deepawali Get Together (Picnic) of Members at Kingdom of Dreams.23.11.2012 Study Circle Meeting on Procedure and Compliances under Central

Excise Act, 1944 – Speaker: CS R K Khurana20-27.11.2012 15th Student Induction Program23-24.11.2012 Career Awareness Programs at six Schools in Kaithal

24.11.2012 Career Awareness Programs at S N Sidheshwar Public School, GurgaonLudhiana 27.11.2012 Seminar on CDR, Personality Development & Corporate Grooming

05-11.11.2012 Student Induction ProgramNoida 08-16.10.2012 3rd Executive Development Program

12-31.10.2012 11th Management Skills Orientation Program02-09.11.2012 14th Student Induction Program

Sonepat 20.10.2012 One day Seminar on Change Management

The programs/meetings were attended by Office bearers and Managing Committee Members of the Chapters apart fromother members & students.

OBITUARY‘NIRC-ICSI Newsletter’ deeply regrets the demise of the following members:

• CS S.P. Bharti , FCS-1311 (Chairman, Yamunanagar Chapter of NIRC-ICSI) on 01.12.2012 from Yamunanagar.• CS Joginder Kumar Aggarwal, FCS-260 on 06.10.2012 from Chandigarh.

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

May the Departed Souls rest in peace.


FORTHCOMING MEETINGS OF STUDY GROUPSDay, Date Program Venue Credit Hours Feesand TimeSunday, West Zone Study Group Meeting CMC Ltd., Community Centre, One Free16.12.2012 Topic will be informed through C-11, 3rd Floor, Behind Janak6.00 PM e-mail) Cinema,Janak Puri, New DelhiSaturday, East Zone Study Group Meeting Mother Teresa Public School One Free22.12.2012 on Drafting to the Reply of Show C – Block Preet Vihar,6.00 PM Cause NoticesSunday, North Zone Study Group Meeting TECNIA INSTITUTE OF APPLIED One Free23.12.2012 (Topic will be informed through STUDIES, BD-1, 3rd Floor,5.00 PM e-mail) Pitampura, Delhi – 110034,


LIGHTER SIDE OF THE PROFESSION“What is the cause of his depression these days?”“The Company has declared him as the Employee of the month.”“Is it a matter of Depression or Celebration?”“He has come under the Policy of the Company ‘Reduction of Workforce by one Employee a month’.”

* * * * * *“How come you have adjusted yourself with such an arrogant Boss?”“By following the Principle of Mutuality.”“What is that?”“The Boss thinks that I am the Idiot of the top order and good for nothing and I also think about him in the same way.”

—CS PRAMJEET SINGH

CAREER AWARENESS PROGRAMSNIRC has organised 11 Career Awareness Programs during the month of November, 2012 in various schools & collegeslocated in Delhi and surrounding areas. CS G.P. Madaan, CS J K Bareja, CS Shiv Tyagi, CS Anupam Jha & Mr HimanshuSharma addressed in these Career Awareness Programs. The students were apprised about the mode of registration inthe course, syllabus, structure of the course and also the avenues available after completion of the Company SecretaryshipCourse both in employment and in practice.

STUDY CIRCLE MEETINGTopic : Joint Venture Agreement

Date : 18th December, 2012 (Tuesday)Time : 6:00 P.M.Venue : New Delhi YMCA Conference Hall,

IInd Floor, Library Building, Jai Singh Road,New Delhi-110 001

(Tea : 5:45 P.M.)

MEETING OF COMPANYSECRETARIES IN PRACTICE

Topic : Societies & Firms- Regulatory & CompliancesDate : 21st December, 2012 (Friday)Time : 6:00 P.M.Venue : New Delhi YMCA Conference Hall,

IInd Floor, Library Building, Jai Singh Road,New Delhi-110 001

(Tea : 5:45 P.M.)



FIRST ALL REGIONAL COUNCILS JOINT PROGRAM IN NORTHERN REGION(Joint Participation by EIRC, NIRC, SIRC and WIRC)

&PUNJAB STATE CONFERENCE

(Host: Jalandhar Chapter of NIRC)Theme: EMPOWERING SME’S & GOING BEYOND

Day, Date & Time: Saturday, December 15, 2012 - 11.00 A.M. to 7.00 P.M.Venue : Hotel Ramada City Centre, Namdev Chowk, Jalandhar

Registration Fee : ( Non residential ) inclusive of Service TaxDELEGATE Registration Fee per person

Members and 1900/-Participants (Non 1500/- (Without Cultural Eve/Dinner)Residential)

Students (Non 1200/- (Without Cultural Eve/Dinner)Residential)

Spouse Rs. 1500/- and Rs. 1100/.- (without Cultural Eve/dinner)

FREE for Corporate Members of EIRC, NIRC, SIRC & WIRC (Self Only).Special Attractions:Saturday, December 15, 2012 Evening Dinner with Thrilling Rock and Folk Punjabi Cultural ProgramSunday, December 16, 2012-Complementary Travel to Golden Temple and Wagha Border Amritsar.Savour the authentic street food delicacies like Amritsari Kulchas (Maqbool Road chungi wale) , Giani di Lassi, Mame daMutton Tikka, Beera's Flamed Chicken, Makhan fish wala etc.For details about visit to Amritsar, please contact: CS Neeraj Sharma, Chairman, Amritsar Chapter of NIRC-ICSI;

E-mail: [email protected]; Mobile: 9814054585For further details members may contact :

CS M.G. Jindal,Vice Chairman, [email protected] 098141-70354

CS Ranjeet PandeyChairman, Capacity Building& Value Creation, [email protected]

CS Vijay Gupta,Chairman, [email protected]

CS Dinesh GuptaCoordinator & FounderChairman, Jalandhar [email protected] 9815164949

CS Rajiv BajajChairman, [email protected]

CS Ranjeet K. KanodiaChairman, [email protected]

CS S.S. MarthiChairman, [email protected]

CS Mahavir LunawatChairman, [email protected]

CS Aman SetiaChairman,Communication [email protected]

CS Parminder RallyChairman,Delegate Servicing & [email protected]

CS Ankit GandhiChairman,Logistic [email protected]

CS Amit VinayakChairman, ExternalRelations [email protected]



ONE DAY SEMINARon the theme

Embracing Information Technologiesfor Professional Excellence

on

Saturday, the 22nd December, 2012(Registration starts at 9.30 AM)

atHotel Le-Meridien, Janpath, New Delhi-110001

Fee:Rs.2250/- for members (Rs. 1125/- for students) per delegate inclusive of Service Tax ;

FREE for Corporate Members of NIRC

Registration: In order to make necessary arrangements, Members are requested to enrol well in advance with Deputy Director,NIRC-ICSI, 4, Prasad Nagar Institutional Area, New Delhi. The cheque for delegate fee may please be drawn in favourof NIRC of ICSI payable at New Delhi. Tel.:+91-11-49343000, Fax: 25722662 E-mail: [email protected]

(Credit Hours will be given to only those members who joins the programs upto 11.00 AM. and mark theattendance both at the beginning & conclusion of the program)

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Disclaimer: While every effort has been made and care has been taken in preparation of this Newsletter and to ensure its accuracy atthe time of publication, NIRC of ICSI assumes no responsibility for any errors which, despite all precautions, may creep in. It is

suggested that the readers should cross check all the facts and the relevant law position before acting on any matter.© The Northern India Regional Council of the Institute of Company Secretaries of India, 2012

Printed & Published by : T.R. Mehta for and on behalf of Northern India Regional Council of the Institute of CompanySecretaries of India 4, Prasad Nagar Institutional Area, New Delhi-110005; E-mail: [email protected]; Phones: 49343000;

Fax: 25722662; Printed at : Compudata Services, 42 DSIDC Shed, Scheme-I, Phase-II, Okhla Indl. Complex, New Delhi-20;Published at : NIRC-ICSI, 4, Prasad Nagar Instl. Area, New Delhi.

CHAPTERS OF NIRC-ICSI : Agra, Ajmer, Allahabad, Alwar, Amritsar, Bareilly, Bhilwara, 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.

Chairman •Vice-Chairman •Secretary •Treasurer •

Members •••• • • • •

CS Rajiv Bajaj CS M.G. Jindal

CS Shyam Agrawal CS NPS Chawla

CS Ashu Gupta (Ms.) CS Avtaar Singh CS Deepak KukrejaCS Dhananjay ShuklaCS Manish Gupta CS Punit K. AbrolCS Ranjeet Pandey CS Vineet K Chaudhary

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Ex-officio Members •

• • • •

Co-opted • Members • Dy. Director •

Chief Editor •Editor •

Publisher •

CS Atul Mittal CS Harish K. VaidCS Nesar AhmadCS Pradeep K. Mittal CS Sanjay Grover

Anupam MalikCS B.K. Bansal Mr. T.R Mehta

CS Rajiv Bajaj CS Manish Gupta

Mr.

T.R. Mehta

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from the chairman - icsi.edu · this opportunity to thank the guest speaker for sparing his time...

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