FORUM OF INDIAN REGULATORS (FOIR) Minutes of 19th Annual General Body Meeting Day and Date Friday, the 22th June, 2018 Venue: India Habitat Centre, New Delhi. Shri P.K Pujari, Hony. Vice Chairman, FOIR & Chairperson CERC, welcomed all the members of FOIR to the 19 th Annual General Body meeting The list of attendees is placed at Annexure-I. In his welcome address, Shri Pujari gave a brief background of FOIR and stated that the focus of FOIR was on providing a common platform for Regulators from all infrastructure sectors. He further stated that FOIR has participation from Regulators from other sectors i.e. airports, ports, petroleum and natural gas, Competition Commission and showing their commitment towards achieving the common goal, i.e. mutual learning. 2 . In his presidential address, Shri Mr. S. Machendranathan, Hony. Chairperson, FOIR & Chairperson, AERA informed of commencing the activities of RRTI last year and with active participation and feedback from members, FOIR aspires to conduct more such training programmes in future in order to develop core competency amongst the Regulators and regulatory staff. He also sought active participation in improving the infrastructure sector. 3. The Forum thereafter took each of the agenda items for consideration. a) Agenda Item 1: Confirmation of the Minutes of the 18 th Annual General Body Meeting of "FOIR" held on 22 nd June, 2017 at New Delhi The minutes of the 18 th Annual General Body Meeting of "FOIR" held on June 22, 2017 in New Delhi as circulated were confirmed. b) Agenda Item 2: I. Accounts related issues II. Approval of Budget for FY 2018-19. III. Appointment of Tax Consultant for filing the Income Tax Return for FYs 2017-18. IV. Appointment of Consultants for following-up with the Income Tax Department (viz. refund for previous years & deletion of demand for the previous years). I. Accounts related issues
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FORUM OF INDIAN REGULATORS (FOIR)
Minutes of 19th Annual General Body Meeting Day and Date Friday, the 22th June, 2018Venue: India Habitat Centre, New Delhi.
Shri P.K Pujari, Hony. Vice Chairman, FOIR & Chairperson CERC,welcomed all the members of FOIR to the 19th Annual General Bodymeeting The list of attendees is placed at Annexure-I. In his welcomeaddress, Shri Pujari gave a brief background of FOIR and stated that thefocus of FOIR was on providing a common platform for Regulators from allinfrastructure sectors. He further stated that FOIR has part icipat ion fromRegulators from other sectors i.e. airports, ports, petroleum and naturalgas, Competit ion Commission and showing their commitment towardsachieving the common goal, i.e. mutual learning.
2 . In his president ial address, Shri Mr. S. Machendranathan, Hony.Chairperson, FOIR & Chairperson, AERA informed of commencing theactivit ies of RRTI last year and with act ive part icipat ion and feedbackfrom members, FOIR aspires to conduct more such training programmes infuture in order to develop core competency amongst the Regulators andregulatory staff. He also sought act ive part icipat ion in improving theinfrastructure sector.
3. The Forum thereafter took each of the agenda items forconsiderat ion. a) Agenda Item 1: Confirmation of the Minutes of the 18th Annual GeneralBody Meeting of "FOIR" held on 22nd June, 2017 at New Delhi
The minutes of the 18th Annual General Body Meeting of "FOIR" heldon June 22, 2017 in New Delhi as circulated were confirmed. b) Agenda Item 2:
I. Accounts related issuesII. Approval of Budget for FY 2018-19.
III. Appointment of Tax Consultant for filing the Income Tax Return for FYs2017-18.
IV. Appointment of Consultants for following-up with the Income TaxDepartment (viz. refund for previous years & deletion of demand for theprevious years).
I. Accounts related issues
a. Appointment of Auditor for auditing the Accounts for FY 2017-18: I t wasinformed that M/s V.P.Gupta & Company, Chartered Accountants,New Delhi (firm empanelled with the C&AG of India) have beenappointed to audit the Accounts of FOIR for the F.Y. 2017-2018. The
b. Ms Rashmi Nair, Deputy Chief (RA), CERC/ FOIR Secretariat explainedthe salient features of the Balance Sheet and Income & ExpenditureAccount for the financial year 2017-18. On the issue of less expenditureincurred on training and capacity building programs,Members remarked that more t raining programs need to be conductedagainst the budget allotted. They also opined that 85% of funds(receipts) need be ut ilized in order to receive the exemption fromIncome Tax. It was clarified that the capital expenditure on RRTI wasnot spent as CERC rendered its infrastructure support. Hence, cost wassaved.
c. On the issue of more capacity building programs/ act ivit ies to beconducted by FOIR Secretariat, Chairperson, CERC informed themembers that the same is not being implemented due to shortage ofdedicated staff for FOIR. He stated that FOIR Secretariat has only oneJunior Accounts Execut ive on its rolls and hence, current ly, all tasks ofFOIR Secretariat are being handled by officials of CERC. As theseofficials have other responsibilit ies, the Members st rongly felt that FOIRSecretariat should have exclusive staff who would handle thesecretariat act ivit ies and work on various programs and meetings ofFOIR. It was informed that the Governing Body in its meeting held on20th June, 2018 decided to const itute a Sub-committee of theGoverning Body to examine these aspects including restructuring theactivit ies of FOIR. The members of FOIR endorsed the decision of theGoverning Body. There was a unanimous consensus to have exclusivestaff in FOIR Secretariat to ensure that programs are held at regularintervals. The members of FOIR, however, maintained that CERC shouldcont inue giving its support.
d. As regards pending membership fees, Members were appraised thatFOIR Secretariat is following up for the same. Ms. Nair also informed theMembers about the decision of the Governing Body to discont inue theauto-sweep Fixed Deposits in one Bank and instead seek quotes inadvance from public sector banks for a period of 366 days. In thisregard, FOIR Secretariat was also directed to propose an Investmentpolicy for FOIR. The Audited Balance Sheet and Income & ExpenditureAccount of FOIR, placed at Annexure-II for the F.Y. 2017-2018 wasapproved and adopted.
e. Resolut ions in respect of approval of the Balance Sheet and Income &Expenditure Account and for authorizat ion of the officials to sign theAudited Annual Accounts, for appoint ing auditor and for filingdocuments with ITA and Regist rar of Society etc. placed at Annexure-III(a) was approved.
same was approved
f. A Resolut ion towards ut ilizat ion of earmarked fund pertaining to F.Y.2017- 2018, amounting to Rs. 1,17,73,752.25 in next five years i.e. by theend of F.Y. 2022-23, placed at Annexure-III(b) was approved.
II. Budget for FY 2018-19
a. The Budget est imate for the F.Y. 2018-19 placed at Annexure-IV wasdiscussed in detail. As regards programs to be conducted by FOIRSecretariat, the need to ident ify common issues in infrastructure sectorwas emphasized. It was recommended that sector experts can makepresentat ions in each of the workshops.
b. b) The AGM approved the budget subject to making a provision ofexpenses for new work force to be included in FOIR Secretariat. Thebudget is to be modified to the extent to accommodate the expensesof proposed staff in FOIR Secretariat.
III. Appointment of Tax Consultant for filing the Income Tax Return for FYs 2017-18 I t was informed that CA Munesh Kumar Singh of M/s M M & Associates,Chartered Accountants, New Delhi have been appointed to file the
IV. Appointment of Consultants for following-up with the Income TaxDepartment (viz. refund for the previous years & deletion of demand for theprevious years). I t was informed that the proposal for engagement of Tax Consultant fordelet ion of the income tax demands raised by the IT Department for theAssessment Years 2013-14, 2015-16 & 2016-17, has been approved by theCompetent Authority. Accordingly, CA Munesh Kumar Singh of M/s MM &Associates has been engaged and appointment letter to this effect was
c) Agenda Item 3: Reconstitution of Governing Body of FOIR The composit ion of the Governing Body is based on the Rules andRegulat ions of FOIR which provide int er-al ia that the Chairperson orMembers of Electricity Regulatory Commissions/ Authorit ies would beappointed based on their seniority, subject to the condit ion that he/ shehas at least one year's service left .As per the exist ing Rules and Regulat ions, the incumbent to the post ofHony. Chairman, Hony. Vice-Chairman and Hony. Member shall hold officet ill he/ she cont inues to hold the post of his/ her respect ive RegulatoryCommissions/ Authorit ies. The members included in the Governing Bodyare also based on seniority amongst the electricity regulators as per theRules and Regulat ions of FOIR, subject to the condit ion that he/ she hasat least one year’s service left . A copy of the Proposed Governing Body isenclosed at Annexure-V. The const itut ion of the proposed GoverningBody was approved by the AGM.
Income Tax Return of FOIR for the FY 2017-18. The same was approved.
issued on 25.05.2018. The proposal was approved.
(d) Agenda Item 4: Amendment of the Rules & Regulations of FOIR The current Rules of FOIR indicate the quantum of subscript ion fees foreach category of Membership. As the fees are subject to change, theAGM approved the proposal of not indicat ing the fees in the Rules. Thesewould be separately communicated to Members/ Organizat ionsinterested to join FOIR. The AGM also observed that at the t ime of framing the Rules andRegulat ion of FOIR, the post of Assistant Secretary (FOR) in CERC was notsanct ioned. Therefore, the post of Assistant Secretary (P&A) in CERC wasdesignated as Execut ive Treasurer of FOIR. Since the Assistant Secretary(FOR) of CERC is now handling the funct ions of FOIR, AGM concurred tothe proposal of incorporat ing Assistant Secretary (FOR) instead ofAssistant Secretary (P&A), CERC in the Rules for designat ing as Execut iveTreasurer of FOIR. The AGM also concurred to the other changes in Rules of FOIR that whenany Central Sector Regulatory Authority(ies) becomes a member of FOIR,the Chairperson of that organizat ion would by default become the Hony.Vice-Chairman of FOIR. This is in accordance to the decision of theGoverning Body in its 42nd Meeting held on 16th September, 2016. To thatextent, the modified Rules were approved. FOIR Secretariat was directedto file all such approved modificat ions to the Rules (as at Annexure-VI )before the Regist rar of Societ ies.
(e) Agenda Item 5: Reference from Shri V.S.Ailawadi , Hony. Member, FOIR onStranded Capacity resulting in Stressed Assets Shri Vidya Sagar Ailawadi, Hony. Member, FOIR in his mail dated 10th May2018, has requested to bring the issue of crit icality of st randed capacit iesresult ing into st ressed assets. It has been emphasized by Shri Ailawadi thatit may cause a huge loss if steps are not taken to protect and ut ilize thiscapacity. It was discussed that there are various factors like scarcity ofdemand and Demand Side Management (such as replacement of CFL/Flouroscent bulbs by LEDs). After deliberat ion, the AGM decided that thisissue may be taken up for discussion in workshops to be organized by FOIRSecretariat.At the end of the meeting, Dr. S K Chatterjee, Joint Chief (RegulatoryCERC/ FOIR conveyed his sincere thanks to all the dignitaries present inthe meeting. He also thanked the FOIR Secretariat for their sincere effortsin organizing the meeting. The meeting ended with vote of thanks to the Chair.
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/ ANNEXURE – I /
LIST OF PARTICIPANTS ATTENDED THE 19TH
ANNUAL GENERAL BODY MEETING
OF
FORUM OF INDIAN REGULATORS ( FOIR )
HELD ON 22ND
JUNE, 2018 AT INDIA HABITAT CENTRE (IHC), NEW DELHI.
S. No. Name Designation
1. Shri S. Machendranathan Chairperson, AERA &
Hony. Chairman, FOIR
2. Dr. M.S. Sahoo Chairperson, IBBI &
Hony. Vice-Chairman, FOIR
3. Shri P.K. Pujari Chairperson, CERC &
Hony. Vice-Chairman, FOIR
4. Shri A.K. Singhal Member, CERC &
Hony. Secretary, FOIR
5. Shri A.S. Bakshi Member, CERC &
Hony. Treasurer, FOIR
6. Dr. M.K. Iyer Member, CERC
7. Justice (Shri) G. Bhavani Prasad Chairperson, APERC