NOTICE OF ANNUAL GENERAL MEETING Notice is hereby given that the Annual General Meeting of Indore Chapter of WIRC of ICSI will be held on Friday 28 th June, 2019 at 04:00 PM at “ICSI Indore Chapter, B-1/2/3, Ashray Apartments, 2/1, Manoramaganj, Indore to conduct the following business: - 1) To receive, consider and adopt the Audited Balance Sheet as on 31st March 2019, the Income & Expenditure account for the year ended on that date, Report of the Management Committee and Auditors’ thereon. 2) To Consider Re-appointment of M/s. Biyani Mittal & Company, Chartered Accountants, Indore as Statutory Auditors for the year 2019-20. 3) Any other item with the permission of the Chair. By order of the Managing Committee of ICSI Indore Chapter. Place: - Indore Sd/- 11.06.2019 CS Vipul Goyal Secretary Note(s): 1. The members are requested to send their queries on Accounts of FY 2018-19 through email at indore@icsi.edu or by any other mode, atleast three days in advance, so that answers may be made available at the meeting. 2. In order to promote the Green Initiative, the ICSI vide its letter dated 21.10.2011 has directed all its Offices to send the Annual Report to the members through electronic mode. Accordingly, Indore Chapter is sending Annual Report for the year 2018-19 through e-mail. Members may also view/download Annual Report from the child portal of ICSI-Indore (www.icsi.edu/indore ). Copies of the Annual Report will be available at the venue of the AGM i.e. B-1/2/3, Ashray Apartments, 2/1, Manoramaganj, Indore-452001 (M.P.) on 28.06.2019. 3. Members interested to receive the printed version of Annual Report should send their request at least 4 days prior to the date of the AGM. The printed version of the Annual Report shall be dispatched on receipt of such request. 4. Members are requested to update the changes in their address(es), email IDs, contact details and other particulars at ICSI Portal for enabling Indore Chapter to disseminate information about activities and programs. *****
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NOTICE OF ANNUAL GENERAL MEETING
Notice is hereby given that the Annual General Meeting of Indore Chapter of WIRC of ICSI will be held on Friday 28th June, 2019 at 04:00 PM at “ICSI Indore Chapter, B-1/2/3, Ashray Apartments, 2/1, Manoramaganj, Indore to conduct the following business: -
1) To receive, consider and adopt the Audited Balance Sheet as on 31st March 2019, the Income & Expenditure account for the year ended on that date, Report of the Management Committee and Auditors’ thereon.
2) To Consider Re-appointment of M/s. Biyani Mittal & Company, Chartered Accountants, Indore as Statutory Auditors for the year 2019-20.
3) Any other item with the permission of the Chair.
By order of the Managing Committee of ICSI Indore Chapter.
Place: - Indore Sd/-
11.06.2019 CS Vipul Goyal Secretary
Note(s):
1. The members are requested to send their queries on Accounts of FY 2018-19 through email at [email protected] or
by any other mode, atleast three days in advance, so that answers may be made available at the meeting. 2. In order to promote the Green Initiative, the ICSI vide its letter dated 21.10.2011 has directed all its Offices to send
the Annual Report to the members through electronic mode. Accordingly, Indore Chapter is sending Annual Report for the year 2018-19 through e-mail. Members may also view/download Annual Report from the child
portal of ICSI-Indore (www.icsi.edu/indore ). Copies of the Annual Report will be available at the venue of the
AGM i.e. B-1/2/3, Ashray Apartments, 2/1, Manoramaganj, Indore-452001 (M.P.) on 28.06.2019.
3. Members interested to receive the printed version of Annual Report should send their request at least 4 days prior to the date of the AGM. The printed version of the Annual Report shall be dispatched on receipt of such request.
4. Members are requested to update the changes in their address(es), email IDs, contact details and other particulars at ICSI Portal for enabling Indore Chapter to disseminate information about activities and programs.
Dear Member(s), We have immense pleasure in presenting to you the Management Report for the financial year 2018-19 along with Audited Accounts and Report of Auditors thereon, on behalf of the Managing Committee of Indore Chapter of Western India Regional Council of the Institute of Company Secretaries of India. At Present 4700 plus students and 700 plus members are currently registered at Indore Chapter. Indore Chapter also successfully established Study Centre at 7 Locations including new Study Centre opened during this year at Neemuch, Sidhi and Ratlam. Our child portal www.icsi.edu/indore also received highest ranking throughout ICSI Chapters. FINANCIAL RESULTS: - We are hereby enclosing the Annual Audited Accounts for the year ended on 31st March, 2019 together with Auditors report and feel happy to inform that there is a surplus of Rs. 10,41,994/- during the year, in spite of ever high activities and also among them many activities were either organized at the subsidized charges or without charges from the members & students. We hereby recommend that these audited accounts and audit report may kindly be adopted. PERFORMANCE OF CHAPTER:- With the support, guidance, we made our best efforts for organizing various programs to extend benefit to the Members and Students at large during the financial year 2018-19. During the F.Y. 2018-19 Indore Chapter orgnised Appx. Activities which includes 15 Days Student Academic Development Program, Professional Development Programme (PDP), 04 Management Skills Orientation Programme (MSOP), Study Circle Meetings, Half Day & Full Day Seminars, Investor Awareness Programme, Classroom Coaching Classes at Indore and many more which were not only attended by a huge gathering but also graced and addressed by various leaders, eminent persons from the corporate world, academicians, senior civil servants and professionals among many others. ACTIVITIES DURING THE FINANCIAL YEAR 2018-19
Sl. No. Name of Programme No. of Programs Organised
1 15 Days MSOP 02
2 2 Days Induction Program 06
3 3 Days E-Governance Program 06
4 5 Days Skills Development Program 05
5 5 Days Entrepreneurship Development Program 04
6 Professional Development Program 10
7 PCH Programmes for Members 37 PCH
8 Study Circle Meeting 09
9 Career Awareness Programmes 30
10 Education Fair 02
11 Student Month program 12
12 Other Program 10
Our Managing Committee is working with great passion and team sprit to take the Chapter to the higher level in the years to come and to get amazing results. We are looking forward this year with lot of optimism for enduring better performance.
Apart from the Professional Development programs the Indore Chapter has also conducted programmes like Blood Donation Camp, Women’s Day, Van Mahotsav, Yoga Day, Earth Day, CS Day /PCS Day and Independence Day/Republic Day. Also we are working hard to provide best facilities for Oral Tuition Classes and we need support from all our members in whatever manner they may contribute. The motive of running OTC at Indore Chapter is to provide best faculties and guidance of other subject experts to the students on minimum cost and give them assistance in establishing themselves as a skillful Company Secretary. ICSI Indore Chapter launched an initiative “KNOWLEDGE DONATION” in 2018 with an objective to create a pool of professionals and other knowledge holders who are willing to contribute to educate the society. I request each member to share their details with chapter for further needful at our end for this noble initiative. In this initiative we have received many requests from our members & students to take part in this noble cause and we have also received request from various colleges & Schools for such professionals for their students. At the outset, we wish to place on record our deep sense of gratitude and thanks to Central council members of ICSI, Regional Council Members of WIRC, all past committee members, past chairman(s) & Secretaries and senior members, members and students of the Indore Chapter for their distinguished contributions in the development of the profession and the activities of the chapter. Indore Chapter made its generous endeavors to conduct the activities with a sole motto “Benefit to the Stakeholders at large”. I thank you all for supporting and encouraging us by your active participation in the various activities of the Chapter directly and indirectly. I would also like to express my sincere gratitude towards the Managing Committee, whose support and guidance have been invaluable. We are grateful to various speakers and guests who have contributed a large and enlightened us with their expert’s knowledge and opinion from time to time for making the Chapter activities so live and interesting. We are also grateful to the Press and Media who have also been co – operative and publishing the news relations to our Chapter from time to time. We are also grateful to all the Members and Students for their active participation and timely suggestions for improving the active participation and timely suggestions for improving the activities of the Chapter and to office staff who assisted us in carrying out or day to day duties.
I also sincerely request you to put your suggestions and feedback from time to time on the activities of Indore Chapter. I assure you that we at Indore Chapter would give importance to all your suggestions and considers them for implementation in the right perspective. Wishing all of you Happiness, Joy and Peace all around.
For and on Behalf of the Managing Committee of ICSI Indore Chapter
Indore Chapter Activities 01.04.2018 to 31.03.2019
Sl. No.
Date Topics Venue Chief Guest/Speaker Attendance
01 03.04.2018 to 04.04.2018
15th “2 Days Induction Program” ICSI Indore Chapter
49
02 05.04.2018 to 07.04.2018
15th “3 Days E-governance program”
ICSI Indore Chapter
52
03 07.04.2018 ICSI Indore WIRC Joint Full Day Seminar on "Companies Amendment Act, LODR & FDI"
Hotel Lemon Tree, Indore
CS S Sudhakar CS Makarand Joshi CA Harry Parikh
98
04 09.04.2018 to 13.04.2018
10th “5 Days Skill Development Program”
ICSI Indore Chapter
29
05 16.04.2018 to 20.04.2018
02nd “5 Days Professional Entrepreneurship Development Pogram”
ICSI Indore Chapter
30
06 23.04.2018 to 24.04.2018
16th “2 Days Induction Program” ICSI Indore Chapter
34
07 25.04.2018 to 27.04.2018
16th “3 Days E-governance program”
ICSI Indore Chapter
41
08 28.04.2018 Round Table Discussion on “Views/ Suggestions/ Issues/ Queries on the new topics identified for developing the SS/ Guidance Notes
ICSI Indore Chapter
03
09 01.05.2018 to 05.05.2018
11th “5 Days Skill Development Program”
ICSI Indore Chapter
17
10 12.05.2018 Series of SCM in line with proposed Secretarial Standards on the subject “Managerial Remuneration”
ICSI Indore Chapter
CS (Dr.) D.K. Jain
18
11 15.06.2018 PCS Day Celebration ICSI Indore Chapter
- 30
12 21.06.2018 International Yoga Day Col C K Nayadu Udyan
- 03
13 01.07.2018 Workshop on “Overview of GST” ICSI Indore Chapter
CA Rohit Khandelwal 17
14 01.07.2018 Van Mahotsav Col C K Nayadu Udyan
CS Anurag Gangrade 15
15 01.07.2018 to 31.07.2018
Student Month Celebration Van Mahotsav Company Law Quiz Student Program on “Emerging Aspects in Corporate Laws” Classroom teaching batch commencement of Executive Programme Felicitation of top 03 Rank Holders of December 2017 Examination World Population Day (Debate
ICSI Indore Chapter
Competition) Webcast for students by ICSI Students Parent Teacher Meet Faculty Induction Programme Programme for students on Soft skill / Communication Samadhan Diwas Video Byte Competition Powerpoint Presentation Competition Corporate Houses to be called to guide the students Celebration of Carrer Awareness Week Kargil Victory Day Swachh Bharat Abhiyan World Nature Conservation Day
16 07.07.2018 to 08.07.2018
Annual Regional PCS Conference Brilliant Convention Centre
CS (Dr.) K S Ravichandran, Shri Sanjay Kher, Shri Chander Sawhney, Shri Ajit P Manjure, CS Hemant Vijay Pandya, CA Manoj Shah, Shri Debojyoti Dey, CS Ashok Kumar Dixit, CS Bhasker Subramaniam, CS Ramaswami Kalidas
203
17 22.06.2018 to 08.07.2018
15th MSOP ICSI Indore Chapter
31
18 19.07.2018 Soft Skill Session on “Communication Skills”
ICSI Indore Chapter
CS Sheetal Verma 22
19 20.07.2018 17th All India Elocution Competition (Chapter Level Round)
ICSI Indore Chapter
CS Ritesh Gupta, CS L.N. Joshi 9
20 27.07.2018 Half Day Seminar on "Section 8 Companies vs. Society & Form DIR 3 KYC"
- Students Training Programmes 18,67,500 19,95,729
- Others 18,67,500 - 19,95,729
Total : 30,23,213 36,64,203
PARTICULARSFor the year ended
31st March 2019 31st March 2018
INDORE CHAPTER OF THE INSTITUTE OF COMPANY SECRETARIES OF INDIA
Note -15
OTHER INCOME (Amount in Rs.)
Subscription to Newsletter
Incentive on Investments
Investor Awarness Programmes -
Provision no longer required, written-back -
Donations - General -
Rent -
Grants received from Headquarters 209138 325660 325660
Grants received from Regional Office 0 0
Sale of Scrap
Miscellaneous 41461 250599 83452 83452
Total : 250599 409112
PARTICULARSFor the year ended
31st March 2019 31st March 2018
INDORE CHAPTER OF THE INSTITUTE OF COMPANY SECRETARIES OF INDIA
Note -16
EMPLOYEE BENEFIT EXPENSE (Amount in Rs.)
Salaries and Allowances
a) Overtime 700
b) Working on Holiday 7,900 30,100
c) Day to Day Conveyance 2,031 9,931 - 30,800
Staff Welfare
a) Staff Welfare 20,310 25,500
- -
20,310 - 25,500
TOTAL 30,241 56,300
Note -17
TRAVELLING AND CONVEYANCE EXPENSE (Amount in Rs.)
Travelling Expenses 18,217 1,926
Conveyance Expenses 670 18,887 30,660 32,586
TOTAL 18,887 32,586
Note -18
PROGRAMMES / SEMINAR EXPENSES (Amount in Rs.)
Programmes / Seminars of Members
a) Seminar 8,79,845 11,52,390
b) SCM -
c) Other 54,678 9,34,523 1,11,113 12,63,502
Programmes / Seminars of Students
a) Students Training Programmes 10,82,473 11,52,228
b) Other Programmes 7,386 11,52,228
10,89,859
TOTAL 20,24,382 24,15,731
PARTICULARSFor the year ended
31st March 2019 31st March 2018
PARTICULARSFor the year ended
31st March 2019 31st March 2018
PARTICULARSFor the year ended
31st March 2019 31st March 2018
INDORE CHAPTER OF THE INSTITUTE OF COMPANY SECRETARIES OF INDIA Note - 19
OTHER EXPENSES (Amount in Rs.)
Stationery 58,388 58,388 1,05,976 1,05,976
Newsletter - - - -
Legal and Professional Services 3,760 3,760 6,578 6,578
Rent, Rates and Taxes 4,96,006 4,96,006 4,54,630 4,54,630
Electricity and Water 62,893 62,893 65,538 65,538
Communication Expense
- Telephone / Fax 23,083 27,882
- Courier / Postage 5,384 8,830
Bulk SMS 22,197 -
Bulk Email 3,521 54,185 - 36,712
C S B F Donation 21,000 21,000
Insurance - - - -
Repairs and Maintenance
- Buildings 2,03,827
- Computer 15,799 48,763
- Other Assets 16,806
- Vehicles - 32,605 - 2,52,590
Office Expenses 37,508 37,508 1,62,868
Professional Tax 3,864 3,864
Newspapers and Periodicals 3,751 3,751 1,796 1,796
Meeting expenses 13,553 13,553 30,652 30,652
Computerisation (Data Processing) - - - -
Programme Expenses -
Packing and Despatch - - -
Loss on Sale/ Disposal/Write-off of Assets 7,228 7,228 - -
Loss/Write-off of Stocks - - -
Bank Charges 237 237 7,833 7,833
Student Scholarship and Awards - -
Auditors Remuneration (including Service Tax) -
- Statutory Audit Fees 10,620 10,000
- GST Services 12,000
- Internal Audit Fees 31,350 53,970 30,000 40,000
Investor Awarness Programmes - - -
TDS / Income Tax Recoverable written off - - 4,500 -
Refreshment - - 4,500
- -
TOTAL 8,48,947 11,69,672
PARTICULARSFor the year ended
31st March 2019 31st March 2018
THE INSTITUTE OF COMPANY SECRETARIES OF INDIA
INDORE CHAPTER OF W.I.R.C.
NOTE - 20
ACCOUNTING POLICIES AND NOTES TO ACCOUNTS
(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
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 accrual basis.
b. Fee from students is recognized on accrual basis.
c. No revenue from sale of publications is recognized in the Chapter accounts as sale of publications
are accounted for at Head Quarter level.
d. Income from Investments i) 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.
e. Receipt of money for specific sponsored Programs is recognized 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, if any, 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 : Item %
Buildings 5
Furniture and Fixtures 10
Lifts/Air Conditioners/Other Equipments 15
Vehicles 20
Computers / Mobile Phones 40
d. Depreciation on additions to Fixed assets is provided on pro-rata basis. No depreciation is charged in the
year of sale.
e. Fixed Assets costing ` 5,000 or less are fully depreciated.
f. Library books are depreciated at the rate of 100% in the year of purchase. g. 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 isrecognized 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.However there was no closing stock at the year end.
8. Foreign Currency Transactions
a. Foreign currency transactions are not done by Indore chapter during the F.Y 2018-19.
9. Employee Benefits (Not applicable for RO / Chapter)
Defined Contribution Plan
a. Not applicable on Indore Chapter.
Defined Benefit Plan
a. Not applicable on Indore Chapter.
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
Not applicable on Indore Chapter.
12. Allocations / Transfer to Reserves and Surplus and Earmarked Funds
a. Corpus donation / donation for Building & Other Specific Fund received during the year is directly taken
to such Reserve if any.
13. Old outstanding amounts under the heads of ‘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:
1. Contingent Liability: NIL
2. Prior Period Income / Expenditure: Details of Prior Period Expenditure are as follows. Although
they have not been deducted while calculating the Surplus for the year.
Details of Prior period Expenses: Amount (Rupees)
1 Society Maintenance 14200
2 GST Ineligible Credit 20245
Total of Prior Period Exp. 34445
Details of Prior period Income: Amount (Rupees)
1 Reimbursement of TDS recoverable. 60554
2 Reimbursement of president meeting expenses. 14608
Total of Prior Period Income 75162
3. Capital Commitments: NIL
4. Other Commitments : NIL
5. Donation in kind : NIL
6. Related Party Transactions: NIL
7. Reconciliation of HQ account cannot be done as the same is not available with the chapter. It was
explained that HQ maintains the accounts on receipt basis while the entries in chapter is made on claim
received from HQ basis.
8. GST Credit has been taken in relation to the respective expenses only where taxable input services availed
against taxable output except student related programmes where no GST input is available being
exempted from GST as defined in GST Rules.
As per our report of even date.
For Biyani Mittal & Co. For and on behalf of the Indore Chapter Management Committee
Chartered Accountants
F.R.N.:-012282C Sd//- Sd/- Sd/-
CS Ruchi Joshi CS M. R. Sheikh CS Vipul Goyal
Sd/- Chairperson Vice Chairman Secretary
CA Govind Biyani
M No.403119 Sd/- Sd/-
Place: Indore CS Soumya Sharma CS Pravin Gupta
Date: 20.05.2019 Treasurer Executive Officer
COMPANY SECRETARIES
BENEVOLENT FUND
The Company Secretaries Benevolent Fund (CSBF) provides safety net to Company Secretaries who are members of the Fund and their family members in distress.
EligibilityA member of the Institute of Company Secretaries of India is eligible for the membership of the CSBF.
How to join• BymakinganapplicationinFormA(availableatwww.icsi.edu/csbf)alongwithonetimesubscriptionof̀ 10,000/.• OnecansubmitFormAandalsothesubscriptionamountof`10,000/- ONLINE through Institute’s web portal:
www.icsi.edu. Alternatively, he can submit Form A, along with a Demand Draft or Cheque for `10,000/- drawn in favourof ‘CompanySecretariesBenevolentFund’,atanyof theOfficesof the Institute/RegionalOffices/Chapters.
Benefits• `7,50,000 in the event of death of a member under the age of 60 years• Upto`3,00,000 in the event of death of a member above the age of 60 years• Upto`40,000 per child (upto two children) for education of minor children of a deceased member• Upto`60,000 for medical expenses in deserving cases• LimitedbenefitsforCompanySecretarieswhoarenotmembersoftheCSBF
Particulars Security Deposit Annual Subscription Timing of Library and Reading Room
Members Rs. 2500/- Rs. 500/- Monday to Friday 10:30AM to 05:30PM
(Lunch Hours:- 01:15 to 02:30)
Students Rs. 500/- Rs. 200/-
OTC Students Rs. 500/- Exempt
All Bare Acts/Reference Books are available alonngwith E-Library facility.
Terms & Conditions:-
1. No interest shall be payable to any member in respect of the security deposit.
2. The security deposit shall be refundable on cessation of membership of library provided
there is no book standing in the name of the person.
3. The annual library subscription once paid shall not be refunded under any circumstances.
4. The library membership shall be valid for the financial year during which a person is
admitted as a member and may be renewed on the 1st of April each year on payment of
the annual library subscription.
5. Each member of the Library shall observe necessary and due care while handling books
and other material. Members or readers, shall maintain strict discipline inside and around
the Library and conduct themselves in a manner conducive to congenial atmosphere for
study.
6. Library In-charge shall have the right to close the library on any day or change the
working hours of Library without previous notice if office exigencies so demand.
Issue of Books as per following conditions:- (i) Only one book from the general issue section shall be issued at a time against a borrower's ticket for a period not exceeding 14 days at a time. (ii) If the book issued from the general issue section is not returned by the due date, the library member may be required to pay a fine of Rs.5/- for each day of default. (iii) Where a book is lost or damaged but is known to be in print, current publisher's price and a surcharge of not exceeding 25% of the price to meet the cost of acquisition shall be charged.