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CS Mar Issue
CS Mar Issue
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The Council
President
Mamta Binani
Contents
Vice President
Shyam Agrawal (Dr.)
Members
(in alphabetical order)
Ahalada Rao V.
Amardeep Singh Bhatia
Ashish C. Doshi
Ashish Garg
Atul H Mehta
Gopalakrishna Hegde
Gopal Krishan Agarwal
Mahavir Lunawat
Makarand M. Lele
Rajesh Sharma
Rajiv Bajaj
Ramasubramaniam C.
Ranjeet Kumar Pandey
S. K. Agrawala
03
Satwinder Singh
Vijay Kumar Jhalani
Vineet K. Chaudhary
Yamal Ashwinkumar Vyas
Vol. : XLVI
From the
No. 03
Pg 1-140
12
President
2 Articles
3 research
15
Corner
51
3 Legal World
81
From the
Government
93
Institute
101
6 Miscellaneous
Members
March - 2016
Corner
131
www.icsi.edu.
Dr. S.K. Dixit
Consulting Editor
V. Gopalan
Legal Correspondent
T. K. A. Padmanabhan
March 2016
ICSI Images
Make in India Week Celebrations at Bandra Kurla Complex, Mumbai during Feb 13-18, 2016
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Arun Jaitley (Honble Union Minister for Finance, Corporate Affairs and
I&B) being briefed by CS Vineet Chaudhary about on the spot company
incorporation facilitated by ICSI at MCA Pavilion.
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A view of the dignitaries before the MCA Pavilion Standing from Left:
CS Mahavir Lunawat, CS Atul H Mehta, S P Kumar (RoC, Mumbai), CS
(Dr.) Shyam Agrawal. Standing Right Wing from Left: Vijay Kumar Jhalani,
CS Ranjeet Pandey, CS Deepti Mehta and CS Kaushik K Jhaveri.
March 2016
ICSI Images
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March 2016
ICSI Images
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NIRC - Meeting of ICSI President with Chairmen of NIRC and its Chapters
Group photo CS Mamta Binani seen with CS Vineet Chaudhary,
CS Rajeev Bajaj, CS Ranjeet Pandey, Chairman and Members of
Regional Council, Chapters Chairmen and officials of the Institute.
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EIRC - Meeting of ICSI President with Chairmen of EIRC and its Chapters
Group photo CS Mamta Binani seen with CS S K Agrawala, Chairman
and Members of Regional Council, Chapters Chairmen and Officials of
the Institute.
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March 2016
SIRC - Meeting of ICSI President with Chairmen of SIRC and its Chapters
Group photo CS Mamta Binani seen with CS Ramasubramaniam C,
CS Ahalada Rao V and Chairman and Members of Regional Council,
Chapters Chairmen and officials of the Institute.
ICSI Images
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March 2016
15
P-17
C.M. Bindal
There are several occurrences specified in section 167
of Companies Act, 2013 on happening of which the office
of a director shall become vacant. Such events include disqualifications under section 164, absence of director from
all board meetings during twelve months, acting in violation of
provisions of section 184, failure to make timely disclosures
under section 184, becoming disqualified by an order of
the court/tribunal, where convicted on moral turpitude or
otherwise and sentenced to imprisonment for not less than
six months, where he is removed under provisions of the Act,
or where he is a director and by virtue of his appointment
holding an office or employment in holding, subsidiary or
associate company, ceases to hold such office or other
employment in that company. The provisions intend that on
happening of any such event, the office of director becomes
vacant automatically and this requires no specific notice to
the director concerned to prove the disqualification, except
in the case of removal of director under section 169 of the
Act. The provision also does not envisage the passing of any
board resolution to this effect, nor the board has power to
waive the event or disqualification. If a person, who vacated
the office of director and knowingly functions as a director,
shall be punishable with imprisonment or fine or with both
as prescribed.
Enhanced role and responsibilities
of the Board of Directors under the
Companies Act 2013
P-21
Prof R Balakrishnan
The various provisions of Companies Act 2013 including
the new concepts have entrusted upon the entire board
members to have tremendous and greater amount of
responsibilities who have now to play a very vital role to meet
the varied regulatory requirements in terms of compliance,
controls and disclosures. The provisions relating to penalty
on non-compliance, violation, non-adherence are now made
more stringent which not only attract civil liability but also
attracts criminal penalties. In the light of the above, the role
of the professionals who are associated with the company in
one capacity or other (full time employment in the company
or rendering services to the company as a practicing
professional) could play a key role and assist the boards on
the near total of the compliance of the applicable laws to a
company. The professional could design and put a system
in place to ensure compliance together with monitoring
mechanism in a company so that the companies are in a
March 2016
P-29
Ranjan Mukherjee
After enactment of the Companies Act, 2013 and subsequent
impact studies on the subject forces Indian corporate
entities to provide serious focus on corporate compliance
management. The present article deals with the importance
on the subject from legal perspective and need for adoption
of best practices through deployment of right professionals
and technology. The article is a result of study of various
important publication from globally reputed organization
who have expressed their concern on the pitfalls for nonadoption of a robust structure for compliance and possible
way forward on corporate compliance management. In
our scenario a company secretary who is in employment
is fully dependent on the resources available from his
organization where mostly obtaining appropriate budget
for providing support to compliance in terms of people,
process and technology is a prominent challenge. Under the
circumstances, ICSI has a role to play in the interest of the
nation where the declared mission is Make in India, ICSI
being a professional body should come out with knowledge
support as a specialist beside appropriate structure including
electronic portal support to achieve significant development
in compliance management in India.
Corporate Social Responsibility under
Companies Act, 2013
A different perspective
P-34
S. Rajendran
The Companies Act, 2013 has introduced several pathbreaking provisions. One among them is mandatory
requirement for certain class of corporates to spend specified
amount out of their profits on specified social schemes.
Lauded as a pioneering initiative by India, the corporate
social responsibility (CSR) regulations have brought with
themselves a few new concepts like CSR committee, CSR
policy, CSR projects, intermediaries, etc. While several
corporates in the country were already engaging themselves
voluntarily in implementing various social schemes, the
mandatory CSR provisions have brought a new dimension,
urgency, focus and purpose. Also, the methods used to
compute the net profits and average net profits seem to
have allowed different interpretations and perspectives.
at a glance
Articles
at a glance
P-41
P-46
Research Corner
51
P-53
P-61
P-68
P-70
P-72
10
Legal World
81
from the
Government
93
Other
Highlights
101
Declaration-cum-Undertaking
1. I, Shri/Ms./Dr./Professor........................ declare that I have read and understood the Guidelines for Authors.
2. I affirm that:
a. the article titled ..... is my original contribution and no portion of it has been adopted from any other
source;
b. this article is an exclusive contribution for Chartered Secretary and has not been / nor would be sent
elsewhere for publication; and
c. the copyright in respect of this article, if published in Chartered Secretary, shall vest with the Institute.
d. the views expressed in this article are not necessarily those of the Institute or the Editor of the Journal.
3. I undertake that I:
a. comply with the guidelines for authors,
b. shall abide by the decision of the Institute, i.e., whether this article will be published and / or will be
published with modification / editing.
c. shall be liable for any breach of this Declaration-cum-Undertaking.
(Signature)
March 2016
11
12
13
14
Article
ARTICLES
March 2016
15
Article
16
March 2016
Article
C. M. Bindal, FCS
C.M. Bindal & Co.
Company Secretaries & Corporate
Consultant
Jaipur
March 2016
17
Article
18
March 2016
19
Article
Article
Where a director vacated his office under section 167 of the Act
for any cause, it constituted a change among the directors within
the meaning of section 170(2) of the Act read with Rule 18 of
Companies (Appointment & Qualification of Directors) Rules, 2014,
hence a Return of such change is required to be filed electronically
with the Registrar of Companies vide Form DIR-12.
20
INTRODUCTION
T
Prof. R Balakrishnan, FCS
Pune
March 2016
21
Article
Article
Enhanced role and responsibilities of the Board of Directors under the Companies Act 2013
BOARD COMPOSITION
Section 135 of the Companies Act, 2013 contains provisions
relating to the composition of the board of a company. Following
are the requirements of this section:
22
FIDUCIARY DUTIES
For the first time in the history of company law in India, section
166 of the Companies Act 2013 stipulates the following fiduciary
duties of the directors of a company :
-
To exercise his duties with due and reasonable care, skill and
diligence, and independent judgment.
March 2016
March 2016
Reserves
Dividends to be paid,
Energy conservation
23
Article
Enhanced role and responsibilities of the Board of Directors under the Companies Act 2013
Article
Enhanced role and responsibilities of the Board of Directors under the Companies Act 2013
Particulars of holding
Details of promoters
Details of directors
Remuneration of directors
Independent directors
For the first time in the Companies Act 2013, the concept of
independent director is introduced and sub-section (6) of section
149 spells out as to who is an independent director in relation to
a company, giving the various criteria. An independent director is
one other than a managing director or a whole-time director or a
nominee director not having any pecuniary interest in the company.
In the case of board of directors of a listed company at least
1/3rd of the total number of directors should be Independent
Directors[section 149(4)]. This provision is in line with the listing
agreement executed between the stock exchanges and the
company as specified in clause 49 of the listing agreement.
The Companies Act 2013, for the first time vide section 135 has
provided that every company having net worth of rupees five
hundred crore or more, or turnover of rupees one thousand crore
or more or a net profit of rupees five 5 crore or more during any
financial year ought to constitute a Corporate Social Responsibility
(CSR) Committee of the board. The board of directors is required to
approve the Corporate Social Responsibility Policy of the company
and ensure that in every financial year, the company spends
at least two per cent of the average net profits of the company
made during the three immediately preceding financial years, in
pursuance of its Corporate Social Responsibility policy.
The Corporate Social Responsibility committee should formulate
the policy on corporate social responsibility and the board is
required to approve the policy and the policy is also required to
be placed in the web site of the company. The Corporate Social
24
March 2016
Definition of Independence
The Companies Act 2013 vide sub-section (6) of section 149 has
defined the term independence to mean
-
a person of integrity
Inapplicability of Retirement by
rotation provisions
It has specifically been provided in sub-sections (6) and (7) of
section 152, that the provisions relating to retirement by rotation
of directors are not applicable to Independent Directors (the
Explanation at the end of section 152 states that For the purposes
of this sub-section, total number of directors shall not include
independent directors, whether appointed under this Act or any
other law for the time being in force, on the Board of a company.
Declaration by the
independent director
Sub-section (7) of section 149 of the
Companies Act 2013, spells out that
every Independent Director should give
a declaration that he meets the criteria of
independence, at the first meeting of the
board in which he participates as a director
and thereafter at the first meeting of the
board in every financial year.
Independent
directors entitlement
Independent directors may receive sitting
fees,reimbursement of expenses and
profit related commission payments as
March 2016
25
Article
Enhanced role and responsibilities of the Board of Directors under the Companies Act 2013
Article
Enhanced role and responsibilities of the Board of Directors under the Companies Act 2013
Audit Committee
As specified in sub-sections (1) & (8) of section 177 of the
Companies Act 2013, every listed company of the board is required
to constitute an Audit Committee specifying the terms of reference
of the Audit Committee in writing by the board of directors. The
board of directors report to shareholders in the annual report is
required to disclose the composition of an Audit Committee.
26
March 2016
March 2016
27
Article
Enhanced role and responsibilities of the Board of Directors under the Companies Act 2013
Article
Enhanced role and responsibilities of the Board of Directors under the Companies Act 2013
28
Article
C
Ranjan Mukherjee, FCS
Senior Consultant, Enterprise Compliance
Management,Tata Consultancy Services Limited
Kolkata
[email protected]
ompany Secretaries as
compliance professionals are
now primarily responsible in
terms of section 205 (1) (a to
c) of the Companies Act, 2013
[Act] to ensure compliance of
the Act, and other laws, and
also the Secretarial Standards
applicable to the company.
An insiders view, shall depict
that the Company Secretaries
who are in employment
primarily face a plethora of
challenges for making desired
compliance. At the fore-end,
LEGAL BACKGROUND
AND HOW TO INSTALL A
COMPLIANCE STRUCTURE
Now the question is how the secretarial
department can gear up to serve such
functions?
The company secretary has some real
challenges in this regard. In Directors
Responsibility Statement the director
has to provide confirmation as desired in
1 http://www.iso.org/iso/catalogue_detail?csnumber=62342
29
Article
section 134 of the Act. A director obviously should look for a robust
bankable compliance structure before signing the Boards Report.
Boards Report being an attachment to the Balance Sheet and
Directors Responsibility Statement being a part of the Boards
Report , from the perspective of true and fair view concept,
Directors Responsibility Statement has equivalent importance as
that of a Balance Sheet.
The directors, in case of a listed company, have to specify as
per Section 134(5) (e) of the Act, in the Directors Responsibility
Statement that they have laid down internal financial controls for
the company and such internal financial controls are adequate
and were operating effectively.
Further section 134 (5) (f) of the Act, brings certain key points on
legal compliance. The directors in the Directors Responsibility
Statement have to furnish a statement stating that they have
devised proper systems to ensure compliance with the provisions
of all applicable laws and that such systems were adequate and
operating effectively.
The support of compliance professionals at this juncture are
required to create a compliance structure to ensure the following:
30
organization size,
http://www.ponemon.org/local/upload/file/True_Cost_of_Compliance_Report_copy.pdf
March 2016
Through Activity-based Costing Model it shows that noncompliance cost comprises of 27% direct cost, 43% indirect
cost and 30% opportunity cost.
Impact arising
from noncompliance
Business
Disruption
Some illustration
It is important to note from the above table that the severity levels
indicated show, fines and penalties arising from regulatory noncompliance is not featuring on the top because nothing could be
more shattering than business disruption.
In future, under Indian scenario this aspect could be further
examined by the compliance professionals and researchers
considering real life cases.
3 http://www.prnewswire.com/news-releases/pwcs-2015-state-of-compliance-survey-the-roleof-the-chief-compliance-officer-must-evolve-300102308.html
4 https://www.pwc.com/gx/en/ceo-survey/2015/assets/pwc-18th-annual-global-ceo-surveyjan-2015.pdf
31
Article
Article
SOME THOUGHTS
For the Indian corporate compliance professionals, under the
current scenario, it is time to mitigate the challenges and face the
truth. Compliance professionals cannot afford to leave any stone
unturned to table a truthful, bankable Directors Responsibility
Statement in the Board Room. De-bunking a compliance myth is
necessary . Compliance is no box ticking exercise. Compliance
certificate by nature is a snap-shot of compliance status as on a
date and hence there has to be some issues on which compliances
are in work-in-progress or there could be lapses. These are natural
and normal. Compliance certificate which is spic and span is always
taken with a scanner of doubt. Therefore , the logical way is to
disclose the non-compliances through certification and report noncompliance with mitigation plan and related risks, costs or losses
that may arise from non-compliance.
IMPLEMENTATION OF ROBUST
COMPLIANCE STRUCTURE SOME
POINTS
At a starting point, the compliance office may look at the first step
to initiate the process. The compliance office may think of obtaining
periodic reports from the units and functions with the following
contents in the report:
Contents of quarterly Compliance report from Unit to
Compliance Office
1
Non-Compliances at Unit Level
1.1
Non-compliance instances at Unit Level
1.2
Impact of non-compliance at Unit Level
1.3
Status of non-compliances previously reported
2
Compliance Assessment at Unit Level
2.1
Compliance Objective
2.2
Compliance Universe
32
2.3
2.4
2.5
3
3.1
3.2
3.3
3.4
3.5
4
4.1
4.2
5
6
COMPLIANCE CULTURE
Long codes, rules, policies remain in paper and no one bothers and
obviously compliance, ethics, good governance as a whole take
a back seat; everyone issues certificate showing full compliance
on everything and ultimately when debacles take place, then
March 2016
Attention Members/
Students
Views / suggestions invited
for consideration of Syllabus
Review Board
The ICSI has constituted Syllabus Review
Board under the Chairmanship ofCSC.
Ramasubramaniam, Council Member, ICSI
to review the existing course curriculum of
Foundation, Executive and Professional
Programme of the Company Secretaryship
Course. Members and students are requested
to forward their suggestions at [email protected].
33
Article
Article
I
S. Rajendran, FCS
S. Rajendran & Associates
Company Secretaries, Chennai
[email protected]
PROVISIONS APPLICABLE
The CSR obligations are enumerated in
the provisions of the Companies Act, 2013
(Act) under the following limbs:
Section 135
34
edges and help in the process of resourcebuilding to ensure that the intended
benefits reach their destination.
March 2016
35
Article
Article
the CSR Committee. Exceptions are provided under the Rules for
certain unlisted public companies and private companies which
are not required to appoint independent directors. If a private
company has only two directors, the CSR committee shall consist
of those two directors.
The CLC has also recommended for amending the Section 135
to provide that in respect of companies which are not required
to appoint independent directors, the composition of the CSR
committee shall be two or more directors.
While on this context, the wordings used in the Section deserve
a re-look to give the directors basic respect:
Every company having net worth of Rs.500 cr or more, or turnover
of Rs.1000 cr or more or a net profit of Rs.5 cr or more during
any financial year shall constitute a CSR committee of the Board
consisting of three or more directors, out of which at least one
director shall be an independent director.
On several careful readings of the provision, one tends to ask
if out of which refers to the CSR Committee or the directors.
There is only one CSR committee but it consists of three or more
directors; hence the out of refers only to the directors and not the
committee. It is felt that out of whom would have been the correct
usage. Well, it surely is unintended; but having due regard to the
corporate community and those at the helm, a correction would
put things in proper perspective. It is hoped MCA would take this
suggestion in a positive way.
Average Net Profit of the Company for the last three financial
years: Rs. 64,154 Million.
36
March 2016
2011-12
2012-13
2013-14
Case1
Case2
Net Profit/(Loss) as per Sec.198 Rs.in crores
6.00
(-)6.00
(-)3.00
(-)3.00
9.00
9.00
Total
Average Net Profit
12.00
4.00
0.00
0.00
March 2016
Case3
Case 4
Not existent
3.00
9.00
Not existent
Not existent
9.00
12.00
Rs.4 crores OR
Rs.6 crores ??
Rs.6 crores
Rs.12 lacs
9.00
Rs.3 crores OR
Rs.9 crores ??
Rs.9 crores
Rs.18 lacs
37
Article
Article
Amount spent
Amount unspent
CSR ACTIVITIES
It is worth noting that the HLC-CSR has not recommended for CSR
in kind as this could lead to undesirable situations. However, there
are clear positives in permitting capital equipment manufacturers
to spend in kind. This may pave way for thoughtful spending by
responsible corporates.
FAILURE TO SPEND
In order to encourage corporates to embrace this social benefit
scheme, the law-makers have probably thought of not invoking
penal provisions at least for some time. Section 135, while
mandating the social spend, has not prescribed any penalty for
not spending the specified amount. It only mandates the Board to
explain as to why the company could not spend. In other words, it
is the principle of comply or explain.However, failure to disclose
the reason for not spending attracts penalty, inter alia, under
Section 134.
Despite the provisions having been notified in Feb. 2014, a
few established corporates have been caught off guard and
couldnt orchestrate their machinery to spend the specified
amount despite (!!) good intentions. May be they were going at
their own pace. An example of not spending and their reporting
is given below:
38
March 2016
SMART CSR
It is interesting to note that some of the corporates have adopted
innovative ways to gain a good mileage out of their CSR spend.
They have devised their own strategies to give their CSR spend a
smarter dimension to promote their brand image and recall value.
This is absolutely within the framework and perhaps enhances the
reach of their products while at the same time caring for the society.
A clear example of this strategy can be seen in the case of Marico
Ltd. an FMCG company having several brands. Excerpts from
March 2016
39
Article
Article
40
Annual Awards one each for the categories of companies - Large and
Small - to incentivize them to undertake CSR mandate in right earnest.
It is good to note HLC-CSR has made an excellent observation that
the rationale behind CSR legislation is not to generate financial
resources for social and human development since the resource
gap, if any, for such development or social infrastructure, could
as well have been met by levying additional taxes / cess on these
corporates. The objective of this provision is indeed to involve
the corporates in discharging their social responsibility with their
innovative ideas and management skills and with greater efficiency
and better outcomes..
SUMMING UP
As the CSR spend is set to grow in the coming years, a thoroughly
professional mechanism has to be evolved to have a sustainable
stream of projects benefiting the society. This will eventually lead
to improvement in the quality of life across the society. The positive
recognition for corporates as developmental schemes start yielding
results will help them to consolidate their position and aim for
further growth leading to several benefits to the society.
Having pioneered this approach of larger good to the community
where the business operates, the Government has taken the
lead to build a better India in the years ahead. Corporates, rightly
lauded as one of the engines of economic growth, should take
this opportunity and show the world that together we can build a
better and beautiful India for the future generations to feel proud of.
Acknowledgement:
a. Annual Reports of Companies for 2014-15
b. Websites of MCA and IICA
c. Report of the High Level Committee on CSR Sept. 2015
CS
d. Report of the Companies Law Committee Feb. 2016
March 2016
Article
March 2016
of a company.
41
Article
IN BRIEF
1. Deciding the Partners and Designated partners
Partners
LLP may have its own common seal, if it decides to have one.
42
Designated Partners
March 2016
TAXATION OF LLPS
Since the taxation related matters in India are provided under Tax
Laws, the taxation aspects of LLPs was not provided in the LLP Act.
The Finance Bill, 2009 has made provisions in this regard, pursuant
to which the taxation scheme of LLPs has been incorporated in
the Income Tax Act.
CLOSURE OF LLP
eForm 24is required to be filed for striking off the name of LLP
under clause (b) of sub rule 1 of Rule 37 of LLP Rules 2008.
43
Article
Article
Similarly, the Registrar also has the power to strike off any defunct LLP after satisfying himself of the need to strike off and has
reasonable cause. However, in this case, the Registrar has to send a notice to the LLP of his intention and request to send their
representation within one month from the date of the notice.
The Registrar shall publish such notice or content of the application made by the LLP on its website for a period of one month
for the information of the general public. In case no reply is received within the mentioned period, the registrar may strike off the
name of LLP.
Winding up of LLP
Sections 63, 64 and 65 of the LLP Act 2008 governs the process for winding up of the LLP. It is the process where all the assets of
the business are disposed off to meet the liabilities of the same and the surplus if any, is distributed among the owners. The LLP Act
2008 provides for following two modes for winding up:
Voluntary winding up
Compulsory winding up
TIME PERIOD
1.
Application for reservation or change of name Section 71, Rule 18(5) E-Form No.1
--
2.
E-Form No.2
3.
E-Form No.3
4.
E-Form No.4
5.
E-Form No 4
6.
E-Form No.4
7.
E-Form No.5
8.
E-Form no.6
9.
E-Form No.7
10.
E-Form No 8
11.
No time period
12.
44
Rule10
E-Form No.10
March 2016
13.
E-Form No 12
14.
E-Form No 13
15.
E-Form No 14
16.
E-Form No 15
17.
E-Form No 17
No time period
18.
E-Form No 18
No time period
19.
E-Form No 18
No time period
20.
E-Form No 23
21.
E-Form No 24
No time period
22.
E-Form No 25
No time period
23.
E-Form No 27
24.
E-Form No 28
25.
E-Form No 28
26.
E-Form No 28
27.
E-Form No 29
28.
E-Form No 29
29.
E-Form No 29
30.
E-Form No 8
31.
E-Form No 11
Rule17
Rule37(1)(b)
Rule34(1)
CS
March 2016
45
Article
Article
Suhita Mukhopadhyay
Bidisha Achari
46
Participants have an
ownership in the company
No purchase cost to
participants
Dilution of ownership
percentage with new
shareholders
ORIGIN
Phantom stock is a US phenomenon that has been adopted and
adapted in the UK and Australia. In India such stock option is in
its embryonic stage. Some companies in India that have offered
Phantom stock options are: DLF, Birla Sunlife, Bajaj Allianz and
Cairn India.
VARIATIONS
In some plans at the end of the deferral period the employee is
paid an amount equal to the market value at that time of the shares
credited to his account. If the phantom stock plan is structured
in this manner, then the value of each unit of phantom stock
equals the appreciation in fair market value of the stock between
the date the unit is granted and the date the unit is paid. Some
phantom stock plans credit to the employee's account the value of
dividends as they are declared, so that the position of the employee
47
Article
Article
48
CONCLUSION
Phantom stocks have surfaced as an interesting and contemporary
variation of ESOP. As compared to ESOP, Phantom Stocks have
an added flavour of no equity dilution. They are basically contractual
promise by the company to treat the employee as holder of a portion
of company stock, but with no actual sale of stock and no actual
grant of an option to purchase stock. Like other forms of stockbased compensation plans, it broadly serves to align the interests
of recipients and shareholders, enhances contribution to share
value, and encourage the retention or continued participation of
contributors. Like any other type of employee stock plan, phantom
stock plans can serve to encourage employee motivation and
tenure, and can discourage key employees from leaving the
company by aligning their interests with those of the company and
through vesting schedules that function as "golden handcuffs". CS
Appointments
REQUIRED
COMPANY SECRETARIES
Required 3 Company Secretaries for 3 Indian
Subsidiaries of Vossloh Group engaged in the
business of railway crossings.
The Candidate should be ACS with 0-2 years of
relevant working experience in the similar industry.
Apply with confidence stating age, qualification,
experience and details of salary drawn and expected
to:
POST BOX NO. 610, C/o Chartered Secretary,
The Institute of Company Secretaries of India, 22,
Institutional Area, Lodi Road, New Delhi 110003.
49
Article
50
March 2016
Research
Corner
A Comparative Study of Indian Companies Act, 2013 and Companies (Bangladesh) Act, 1994
Women on Boards: A Gap Analysis of India vis-a-vis World
Research circle Brain Storming on Indian Co. Law
Research paper Competition On Insolvency & Bankruptcy CODE
Results of Opinion Writing Competition
March 2016
51
Article
Article
52
March 2016
INTRODUCTION
The Companies Act has taken its birth from the UK Company
Law, and after that point of time all the countries developed their
respective Companies Act as per their own rules and regulations.
After the Company Law came into existence, it went through many
amendments as with changing environment, there arose a need to
amend the Company Law. And thus every country as per their legal
and business environment amended their Companies Act. With
reference to India, The Companies Act, 1956 has been in need of
a substantial revamp in order to make it more contemporary and
relevant to corporates, regulators and other stakeholders in India.
Thus the Companies Act, 1956 was amended and the long-awaited
Companies Act, 2013 was enacted. Similarly, The Companies
(Bangladesh) Act also went through various amendments and finally
became the Companies Act 1994 (Act XVIII of 1994) which governs
Corporate houses in Bangladesh.
The Companies Bill, 2013 got its assent in the Lok Sabha on 18
December 2013 and in the Rajya Sabha on 8 August 2013. After
having obtained the assent of the President of India on 29 August
2013, it became the much awaited Companies Act, 2013 (2013 Act).
This Act is containing only 29 chapters, 470 sections and 7 schedules
March 2016
which means the major part of the Act will be covered in the form of
the Rules, whereas the 1956 Act had 13 parts having 658 sections
along with 15 schedules. The 2013 Act, introduces significant
changes in the provisions relating to governance, e-management,
compliance and enforcement, disclosure norms, auditors and
mergers and acquisitions. Also, new concepts are introduced. In
the 1956 Act, only Public and Private Companies were incorporated
whereas now the concept of One Person Company (OPC) is being
introduced under 2013 Act. The concepts of maximum no of persons
in private company is amended, the provisions of commencement
of business which was earlier mandatory for only public companies
is amended and made mandatory for all companies having share
capital. Also the concept of Corporate Social Responsibility, Striking
off names from Registers, Registered valuers, stringent sections are
added for frauds (Section 447), etc. are being introduced under the
2013 Act, which were not there in the 1956 Act.
The Registrar of Joint Stock Companies and Firms (RJSC) is the
sole authority which facilitates formation of companies and keeps
track of all ownership related issues as prescribed by the laws
in Bangladesh. The Registrar is the authority of the Office of the
Registrar of Joint Stock Companies and Firms, in Bangladesh. The
Companies (Bangladesh) Act, 1994, received the assent of the
President of the Peoples Republic of Bangladesh on 11 September
1994. Before its enactment in 1994, company law was governed
by the Companies Act 1913 which was amended in 1915, 1920,
1926, 1930, 1932, 1936, 1938, 1949, 1969, 1973 and 1984. The
Companies Act, 1994 has eleven parts containing different aspects
of various provisions of the Act. This also contains twelve schedules
covering sections of the Act.
The early history of company law of India was laid in the British
Companies Act 1844 on the basis of which the Joint Stock
Companies Act 1850, the first company law for the sub-continent,
was formulated. This act was based on 'Unlimited Liability'. Through
a major amendment in the Joint Stock Companies Act 1850 in
1857, the provision of unlimited liability was replaced by 'Limited
Liability' and the act was renamed as The Companies Act 1857.
With the expansion of trade and commerce in the sub-continent,
the Companies Act 1857 was amended in 1860, 1866, 1882, 1887,
1891, 1895, 1900 and 1908. The Indian Companies Act 1913
was actually the amended and reformed version of The English
Companies Act 1908.
53
Research paper
Research paper
A Comparative Study of Indian Companies Act, 2013 and Companies (Bangladesh) Act, 1994
RESEARCH METHODOLOGY:
This study shows the comparison of two Acts differing various
aspects. The information in this study is collected from various
books, online sources, websites, journals, articles, bare acts for the
purpose of study.
The various aspects that are taken for the comparison of study are
as follows:
COMPARATIVE ANALYSIS
Incorporation of the company
A company comes into existence generally by a process referred to
as incorporation. Once a company has been legally incorporated,
it becomes a distinct entity from those who invest their capital and
labour to run the company.
Section 3 to 22 of the Companies Act, 2013 (herein after called the
Act) read with Companies (Incorporation) Rules, 2014 made under
Chapter II of the Act. (herein after called the Rules) cover the
provisions with regard to incorporation of companies and matters
incidental thereto.
Opening a company business in Bangladesh, at first needed
to company registration at RJSC (The Registrar of Joint Stock
Companies and Firms) of the country. RJSC is the only authority
to approve registration certificate of incorporation certificate of a
company in the country.
54
Pre-Registration
a. Name Clearance
b. Bank Account Opening and Bringing in the Paid up Capital
c. Register Company
Documents constituting a Registration Application:
Post Registration
a. Documents issued by RJSC:
Form XII
March 2016
Other Licenses
Directors:
Definition, Classification of directors, Minimum Directors, Notice
and Meeting of Board, Validity of the Act, Appointment of directors,
Removal of directors.
March 2016
b. He is an undischarged solvent
55
Research paper
A Comparative Study of Indian Companies Act, 2013 and Companies (Bangladesh) Act, 1994
Research paper
A Comparative Study of Indian Companies Act, 2013 and Companies (Bangladesh) Act, 1994
56
Meetings:
Part I: General MeetingsApplicability, maximum period for conducting first AGM after
incorporation, Statutory meeting, Place and time of meeting,
Period of notice, Calling of EGM, Quorum, In case of default
of holding AGM, Penalty, Registration and copies of special
resolution, Postal ballot.
Under the 2013 Act, Section 96(1) states, the company may
hold first AGM within 9 months form closing of its first financial
year, otherwise in other cases within 6 months, whereas
Section 81 of 1994 Act states that company may hold its first
AGM within period of not more than 18 months from the date
of its incorporation.
-
-
-
-
Financial Statements:
Introduction, Content, Substance, Format, Notes, Audited FS,
Certification, Financial Year, Inspection, Consolidated Accounts,
Preservation of FS, Filing with Registrar, Accounting Standards,
and Cash Flow Statements.
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57
Research paper
A Comparative Study of Indian Companies Act, 2013 and Companies (Bangladesh) Act, 1994
Research paper
A Comparative Study of Indian Companies Act, 2013 and Companies (Bangladesh) Act, 1994
Provided that the company shall also attach along with its
financial statement, a separate statement containing the salient
features of the financial statement of its subsidiary or subsidiaries
in such form as may be prescribed:
58
March 2016
year has not been held, there shall be filed with the Registrar
within thirty days from the last day on which that meeting
should have been held in accordance with the provision of
this Act.
Penalties:
Penalty not for convening AGM of the Company, Penalty for untrue
statement in Prospectus, Penalty for fraudulently including persons
to invest money, Penalty for False Evidence.
March 2016
shall be liable for action under section 447. Whereas Under the
1994 Act, Any person who either by knowingly or recklessly
making any statement, promise or forecast which is false,
deceptive of misleading, or by induce another person to enter
into, or to offer into-
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Research paper
A Comparative Study of Indian Companies Act, 2013 and Companies (Bangladesh) Act, 1994
Research paper
A Comparative Study of Indian Companies Act, 2013 and Companies (Bangladesh) Act, 1994
As we compare the two Acts, there are many things that can be
learned out of the comparison. The above comparisons has given
many aspects to be seen and improved.
Both the acts are made on the basis of their own tradition, rules,
regulations, etc. and thus there will be a lot of differences that can
be observed and that one Act will lack and one Act will be having
stringent provisions for the same. As seen Companies Act, 2013,
it is totally a new Act which has tried to improve many aspects in
corporate sector whereas the Companies (Bangladesh) Act, 1994
still need to improve as it is still in its old legislation.
Both the Acts intend to improve corporate governance by
enhancing the strict provisions. Bangladesh Companies Act,
1994 came with the Related Party disclosure which enhanced the
disclosure of transactions. Bangladesh which is earlier a part of
the Union Indian territory grooving slowly with enabling to attract
the world for establishing business but lake of full powers which
ultimately provides less disclosure and make corporate world in
black scenario.
The 2013 Act has ushered in a new era of corporate democracy
making a paradigm shift from "government control" to "selfgovernance". The 2013 Act has a number of measures for
protection of minority holders like tighter norms on companies from
raising public deposits, filing class action suit etc.
The introduction of concepts of KMP, independent director and
woman director are aimed at ushering quality professionals at
management/board level. The provisions relating to transactions
with related parties have been simplified; at the same time scope
of it being misused to the detriment of minority shareholders have
been prevented.
The 2013 Act contains several welcome measures to boost M&A
activities by allowing merger of Indian companies with foreign
companies, putting in place a fast track mechanism for merger
between wholly owned subsidiaries and holding company/merger
between small companies and exit to minority shareholders at price
determined by the valuer.
Now all eyes are on the final Rules to be issued by MCA (Ministry
of Corporate Affairs, Government of India) after considering
suggestions received from stakeholders on the draft Rules. The
Rules, once finalized, will provide far more clarity on the operational
modalities of the 2013 Act.
REFERENCES
1) Advocate Khoj : Companies Act, 1956 | Bare Acts | Law Library
| AdvocateKhoj. (n.d.). Retrieved December 14, 2015, from
http://www.advocatekhoj.com/library/bareacts/companies/292.
php? Title=Companies Act, 1956&STitle=Certain powers to be
exercised by Board only at meeting.
2) CA Club India: Meetings under Companies Act, 2013 - Corporate
Law. (n.d.). Retrieved December 15, 2015, from http://www.
caclubindia.com/articles/details.asp?mod_id=20227
3) CA Club India: (1, April 14). Retrieved December 14, 2015, from
http://www.caclubindia.com/articles/meetings-under-companiesact-2013-20227.asp 01 apr 2014 - CAclubIndia
4) DSK Legal: Retrieved December 14, 2015, from http://dsklegal.
com/pdf/2015/DSK Legal - Companies Amendment Act.pdf
5) KPMG: Retrieved December 15, 2015, from http://www.kpmg.
60
com
6) MCA: Retrieved December 15, 2015, from http://www.mca.gov.
in/Ministry/pdf/CompaniesAct2013.pdf
7) PwC: PwC India Retrieved December 15, 2015, from http://www.
pwc.in
8) Tax Guru: Annual General Meeting under Companies Act,
2013. (2015, April 14). Retrieved December 14, 2015, from
http://taxguru.in/company-law/annual-general-meeting-undercompanies-act-2013.html - tax guru April 14, 2015.
9) Taxmatebd: Retrieved December 14, 2015, from http://dsklegal.
com/pdf/2015/DSK Legal - Companies Amendment Act.pdf
10) Taxmatebd: Retrieved December 14, 2015, from http://dsklegal.
com/pdf/2015/DSK Legal - Companies Amendment Act.pdf
11) Vakil.No.1: Retrieved December 15, 2015, from http://
www.vakilno.1.com/saarclaw/bangladesh/the-companiesCS
bangladesh-act-1994.html
The Registration of
News Papers (Central) Rules,
1956 (Form IV : Rule 8)
Statement about ownership and other
particulars of Chartered Secretary
1. Place of Publication
New Delhi
2. Periodicity of Publication
Monthly
3. Printer's Name
: Dr. S. K. Dixit
Whether Citizen of India
: Yes
If foreigner, state
: Not applicable
the country of origin
Address : Joint Secretary, The Institute of
Company Secretaries of India, 'ICSI House', 22,
Institutional Area, Lodi Road, New Delhi-110003
4. Publisher's Name
: Dr. S. K. Dixit
Whether Citizen of India
: Yes
If foreigner, state
: Not applicable
the country of origin
Address : Joint Secretary, The Institute of
Company Secretaries of India, 'ICSI House', 22,
Institutional Area, Lodi Road, New Delhi-110003
5. Editor's Name
: Dr. S. K. Dixit
Whether Citizen of India
: Yes
If foreigner, state
: Not applicable
the country of origin
Address : Joint Secretary, The Institute of
Company Secretaries of India, 'ICSI House', 22,
Institutional Area, Lodi Road, New Delhi-110003
6. Name and Address
of individual who
own the newspaper
and partners or
shareholders holding
more than one per cent
of the total capital.
Not applicable
Official journal of the
Institute of Company
Secretaries of India
Sd/Dr. S. K. Dixit
Signature of the
Publisher
March 2016
Introduction
Assistant Professor
University School of Management
Kurukshetra University, Kurukshetra
[email protected]
Naresh Kumar
Research Scholar
University School of Management
Kurukshetra University, Kurukshetra
[email protected]
March 2016
Need of Women on
Boards
Inclusion of more women on the boards
as the responsibilities which women carry
in voluntary organizations and public life
will have given them a different type of
experience from executives. If there were
more women on the boards of companies
then a larger pool of potential directorial
talent would be tapped and the make-up
of boards would come closer to that of
society as a whole. Women take their nonexecutive director roles more seriously
and preparing more conscientiously
for meetings. Women are likely to be
better than male board members with
similar backgrounds and education
because they are not afraid of asking
the awkward questions which leads to
the better decisions which are less likely
to be nodded through (Izraeli, 2000).
Zelechowski and Bilimoria (2004) reported
that women bring different perspectives
and voices to the table, to the debate
and to the decisions. Balasubramanian
(2011) reported the ground on which the
gender agenda for boards is advocated
61
Research paper
Research paper
Legal Compliances
The Companies Act 2013 aims to make the corporate sector more
transparent, lays emphasis on corporate social responsibility,
improved corporate governance standards and empowerment of
women by adding several new provisions. The focus of the study
lies on women and so attention goes to section 149 sub-section (1)
of Companies Act 2013 which describes that every public company
shall have a minimum number of three directors, the number are
two in the case of a private company and one director in the case
of a One Person Company. Further the companies (Appointment
& Qualification of Director) Rules, 2014 which come into force
on 1stApril 2014 provides that every listed company, and every
other public company having paidup share capital of one hundred
crore rupees or more or turnover of three hundred crore rupees
or more as on the last date of latest audited financial statements,
shall appoint at least one woman director.Proviso added to the
rule is providing that a company, which has been incorporated
under the Act and is covered under provisions of second proviso
to sub-section (1) of section 149 shall comply with such provisions
within a period of six months from the date of its incorporation.
There are also some amendments in Listing Agreement i.e.
Clause 49 made by SEBI to increase the women participation on
boards. Revised Clause 49 provides various provisions related to
Corporate Governance to align with the relevant sections of the
New Companies Act 2013; the deadline would remain unchanged
at October 1, 2014, except for requirement of a minimum one
woman director on the boards of listed companies. The listed
companies would have time till April 1, 2015 year to comply with
the woman director-related provision. SEBI has also exempted
smaller companies those having equity share capital of up to Rs
10 crore and net worth not exceeding Rs 25 crore, and companies
listed on SME platforms of the stock exchanges from the mandatory
compliance to the new Code for the time being.
No doubt the introduction of a very comprehensive New Companies
Act, 2013 and Revised Clause 49 is a milestone but the main
concern here is to investigate whether the companies will seriously
appoint competent women director or the women director will be
coming out of family linkages or promoter groups. Even provision
is not clear about the independence of the women director.
Appointing independent women director will be more beneficial
for the companies because by doing so they will be complying two
62
Companies Act
1956
Woman
Director
No such provision
existed
Prescribed Companies
shall have a woman
director.
Maximum
number of
Directors
Section 259
provided for max.
12 and beyond
12 required prior
Central Govt.
Approval.
Independent
Directors
No such provision
existed
Directorship
Literature Review
Dalton and Dalton (2010) found that few aspects of corporate
board diversity have generated the focused attention on the
participation, position and promise of womens service on the
boards. Steady increases in the overall participation of women on
corporate boards show their presence on key board committees.
Authors also reported that increases are particularly noteworthy
in the post Sarbanes-Oxley period. In 1987, 13.3% of female
directors had backgrounds in large scale and profit organisation;
in 1996 the percentage had increased to 37.6%; where as in 2009
the percentage of women with these backgrounds was 70.1%.
Kurup et al. (2011) understood and interpreted the patterns of
March 2016
March 2016
63
Research paper
Research paper
engage in more informal social interaction when the ratio increases. Finkelstein and Hambrick (1996) suggested reasons for why the
composition of the board might affect the performance of a firm. The board has maximum influence on a companys strategic decision
making and also has a supervisory role as it represents the shareholders and monitors the total value of the company. Larcker and
Tayan (2013) found that gender balance can enhance board independence by encouraging healthy debate among diverse perspectives.
Women might have different insights to evaluate information and consider risk than men which leads to better decision making. Women
may also exhibit higher levels of trustworthiness and cooperation, thus it improve the boardroom dynamics.
Research Methodology
For the present study, descriptive research design has been used. The study is purely based on secondary data which is collected
from NSE INFOBASE (Indian Boards Database) and Catalyst Reports on women on boards. Total twenty countries are selected for the
study to check the global representations of women on boards. Out of twenty, four countries are taken from the Asia-pacific Stock Index
companies segment, fourteen from the European Stock Index companies segment, Canada from Canadian Stock Index companies
and remaining one country, US from US Stock Index companies. Data has also collected from 1466 NSE listed companies and 217
unlisted financial sector companies in India to investigate the women representation on these companies.
Table 2: Selected countries with respective stock indices
1.) US Stock Index 2.) Canadian Stock
Index
Canada- S&P/TSX 60
index
Denmark-OMX
Copenhagen
20 index
Norway-OBX index
Japan-TOPIX Core 30
index
Finland-OMX Helsinki 25
index
Portugal-PSI 20 index
France-CAC 40 index
Spain-IBEX 35 index
Germany-DAX index
Sweden-OMX Stockholm
30 index
Switzerland-SMI index
64
March 2016
Country
Women
(in percentage)
Men
(in percentage)
Rank
NORWAY
FINLAND
FRANCE
SWEDEN
BELGIUM
UNITED KINGDOM
DENMARK
NETHERLAND
CANADA
UNITED STATES
AUSTRALIA
GERMANY
SPAIN
SWITERZERLAND
AUSTRIA
IRELAND
HONG KONG
India
PORTUGAL
JAPAN
35.5
29.9
29.7
28.8
23.4
22.8
21.9
21
20.8
19.2
19.2
18.5
18.2
17
13
10.3
10.2
9.5
7.9
3.1
64.5
70.1
70.3
71.2
76.6
77.2
78.1
79
79.2
80.8
80.8
81.5
81.8
83
87
89.7
89.8
90.5
92.1
96.9
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
Year of enactment of
women quota on
Boards
2003
2004
2010
2004
2011
2010
2013
2012
-
2010
2011
2014
2007
2011
2004
2011
2013
2012
-
Type of Quota
Legislative
Legislative
Legislative
Voluntary
Legislative
Voluntary
Legislative
Legislative
Voluntary
Voluntary
Legislative
Legislative
Legislative
Legislative
Voluntary
Legislative
Legislative
-
Source: Catalyst Census: Women Board Directors (2014), Corporate Women Directors International (2013 & 2014), European
Commission Gender Equality Newsroom (2013)
Figure 1: Gap Analysis of women and men on boards in different countries
19.2
80.8
20.8
79.2
21.29
78.71
10.5
89.5
March 2016
65
Research paper
Research paper
pacific region stock index companies (10.5%) whereas United States has 19.2% and Canada has 20.8% women on boards without
any legislative quota.
Table 5: Directorship status of NSE listed companies
Men
No. of Directors
8288
No. Directorship Positions Held
12202
No. of Independent Directors
4007
No. of Directorship Positions Held by Independent Directors 5410
Source: Indian Boards Database
Total
9160
13364
4398
5930
A glance at Table 5 indicates the percentage of men and women on boards of NSE listed companies. The total no. of directors on
the boards is 9160, whereas only 9.52 percent are women with absolute figure of 872. As far as directorship positions are concern,
women lag behind representing 8.7 percent. Out of total 13364 only 1162 directorship positions held by the women. The total no. of
independent directors on the boards is 4398, whereas only 8.89 percent are women with absolute figure of 391. Major portion i.e. 91.23
percent with total of 5410 number of directorship positions is held by men in companies whereas women held only 520 directorship
positions (8.77%) as independent directors.
Table 6: Directorship status of Unlisted Financial sector 217 companies
No. of Directors
No. Directorship Positions Held
No. of Independent Directors
No. of Directorship Positions Held by Independent Directors
Source: Indian Boards Database
Men
955
1464
91
1711
Table 6 depicts that there are 996 directors on boards of 217 unlisted financial sector companies out of which only 41 are women
representing 4.12 percent. The numbers of directorship positions held by 41 women are 87 out of 1551 representing 5.61 percent.
There are 91 independent male directors. No woman is on the boards of unlisted financial sector sample companies as independent
director. Men hold total 1711 directorship positions as independent directors representing 94.79 percent while only 94 directorship
positions are held by women constitute 5.21 percent.
Table 7: Directorship status of Indian companies
No. of Directors
No. Directorship Positions Held
No. of Independent Directors
No. of Directorship Positions Held by
Independent Directors
Source: Indian Boards Database
Men
9243
13666
4098
7121
Total
10156
14915
4489
7735
Figure 2: Gap Analysis of women and men on boards of selected companies (absolute figures)
66
March 2016
March 2016
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Rover, M. L. (2013). Women on boards and firm performance. Journal of Management &
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SEBI. (2014). Corporate Governance in listed entities. Amendments to Clause 49 of the Equity
Listing Agreement Circular No. CIR/CFD/POLICY CELL/7/2014
Torchia et al. (2011). Women Directors on Corporate Boards: From Tokenism to Critical Mass.
Journal of Business Ethics, 102, 299-317.
Walt, N. & Ingley, C. (2003). Board dynamics and the influence of professional background,
gender and ethnic diversity of directors. Corporate Governance: An International Review,
11(3), 218-234.
Wellalage, N. H. & Locke, S. (2013). Women on board, firm financial performance and agency
costs. Asian Journal of Business Ethics, 2, 113-127.
Zelechowski, D. & Bilimoria, D. (2004). Characteristics Of Women And Men Corporate Inside
Directors In The US, Corporate Governance: An International Review, 12(3), 337-342. CS
67
Research paper
PCH- 10
ICSI - CCGRT
The Trajectory
In its endeavor to provide impetus to research activities and
taking it to the zenith, CCGRT is organizing the aforesaid
program to explore into various Sections and Critical Aspects of
Companies Act, 2013 and to emerge with a literature that will be
incredible and an exemplar in Indian Corporate Law.
68
March 2016
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tions/#/5CC5C752DEA07B6F2813FB0136AE4CBF/ICSICCGRT/103967) / local / Par cheque payable at Mumbai in
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((
March 2016
CS Makarand Lele
Program Director
Council Member
CS Ashish Doshi
Chairman
ICSI-CCGRT Management Committee
69
ICSI - CCGRT
ANNOUNCES
Unique
All India Research Paper Competition
On Insolvency & Bankruptcy CODE
globe and also finding out the gap with solution in Bankruptcy &
Insolvency Code proposed in India.
70
March 2016
CS Ahalada Rao V
Chairman
ICSI - Research Committee,
CS Vineet K Chaudhary
Chairman
Corporate Laws & Governance Committee
CS Ashish Doshi
Chairman
CCGRT Mgmt. Committee
The Institute has declared year 2016 as the Mission year for Corporate Governance. In this series, the Institute is coming up with a
special issue of our reputed Chartered Secretary on Corporate Governance in the month of April. Articles/Papers are invited
on various critical issues on Corporate Governance. Members are requested to contribute their original and unpublished articles.
The Articles may relate to:
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3. To make a detailed study on International corporate governance laws (viz., US SoX Act, UK Bribery Act, US Foreign corruption
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March 2016
71
ACS 28790
ACS 18203
ACS 23615
35.
36.
37.
38.
39.
40.
41.
42.
43.
44.
45.
46.
47.
48.
49.
50.
FCS 7795
ACS 40093
Himanshi Khanna
Keyul Dedhia
Ms. Bijal Bharat Parmar
Prasanna Prasanna
Rohit Khandelwal
Shital Mandhana
Abdullah Fakih
Ajay Kumar
Anil Kumar Sehgal
Anisha Chandrashekar Iyer
Anupama Kakarlapudi
Arun Vasudeo Barve
Atul Vispute
Chandrashekar Bhargav
Chirag Bhagat
CS Manasi Paradkar
CS Rita Malgaonkar
Deepti Dole
Devendra Sahu
Digamber Shriram Mahajani
Ganesh S. Pardeshi
Harshal Joshi
Harshawardhan Chindhade
Kulbhushan Rane
25.
26.
27.
28.
29.
30.
31.
32.
33.
34.
Maggie Augustine
Meghraj Bothra
Nair Vinita Venugopal
Namrata Ekhe
Naveen Bhatnagar
Nikhil Kalra
P Mugundan
Padma Venkatesh
Prabir Bandyopadhyay
R Bhuvana
72
A 41467
FCS 7756
ACS 32339
ACS 37578
ACS 39200
FCS 8041
ACS 40199
FCS 3399
FCS 2307
ACS 40268
ACS 19446
ACS 28918
ACS 27999
ACS 38974
ACS 36661
FCS 5447
FCS 7054
ACS 22016
ACS 31933
ACS - 29641
ACS 29080
ACS 26718
ACS 17149
ACS 30664 &
PCS 11195
ACS 28388
FCS -6651
ACS -31669.
ACS - 26880
FCS S6079
ACS 30323
FCS 2267
FCS 7017
FCS 6850
ACS 22108
R. Venkatawara Reddy
R.Ram Ganesh
Rahul Agrawal
Rajlaxmi Kale
Rekha Dubey
Renu Brijlal Bang
Rohan Bhagwat
Sarika Achhra
Sudhir Patil
Sumit Chandhok
Suresh Savaliya
Swati Sethi
Swati Yadav
Sysha Kumar
Varsha sanghai
Veena Vaidya
ACS 25313
ACS 27192
ACS 38647
ACS 36809
ACS - 26947
ACS 33682
ACS 26954
ACS 22136
ACS 34084
ACS 30449
ACS 15545
ACS 41536
ACS 36927
FCS 8150
ACS 33632
ACS 20218
The transfer of the unit will take place on a slump sale basis at
a value fixed by the Board of directors of A Ltd and agreed to
by B Ltd, on the basis of the valuation done by two chartered
accountants.
March 2016
Queries-
Accounting Standard 18 defines related party asParties are considered to be related if at any time during
the reporting period one party has the ability to control the
other party or exercise significant influence over the other
party in making financial and/or operating decisions.
The word control is defined in AS 18 as- Control (a)
ownership, directly or indirectly, of more than one half of
the voting power of an enterprise.
Significant influence means participation in the financial
and/or operating policy decisions of an enterprise, but not
control of those policies.
Since B Ltd is a wholly owned subsidiary of A Ltd, A Ltd
has controlling power over B Ltd. and also a significant
influence over decision making of B Ltd.
Therefore, B Ltd. qualifies both the criterias of clause 49
of listing agreement for determination of a related party.
In case of point no. 1Section 180 (1)(a) of the Act states that, for sell or otherwise disposal
of the whole or substantially the whole of the undertaking, approval
of shareholders by way of special resolution is mandatory.
Further, as per section 180 the words undertaking and substantially
the whole of the undertaking are defined as(i) undertaking shall mean an undertaking in which the investment
of the company exceeds 20% of its net worth as per the audited
balance sheet of the preceding financial year or an undertaking
which generates 20% of the total income of the company during
the previous financial year;
(ii) the expression substantially the whole of the undertaking in
any financial year shall mean 20% or more of the value of the
undertaking as per the audited balance sheet of the preceding
financial year.
73
Replies
No.
74
Section 177 - As per section 177 of the Act, for listed companies,
approval of audit committee is required for entering into
transactions with related parties. The Companies (Amendment)
Act, 2015 notified on 25th May, 2015 also prescribed that the
Audit Committee may make omnibus approval for related
party transactions proposed to be entered into by the company
subject to such conditions as may be prescribed. Therefore,
approval of audit committee of A Ltd is required for entering
into proposed transaction.
Yes.
Section 189 of the Act states that every company shall keep
one or more registers giving separately the particulars of all
contracts or arrangements to which sub-section (2) of section
184 or section 188 applies.
March 2016
75
A. BRIEF BACKGOURND
1
Accounting Standards
Interpretation of Statutes
76
C. OUR OPINION
Relevant provisions to be analysed:
1. Section 180(1)(a) of the Act, provides as below: The Board
of Directors of a company shall exercise the following powers
only with the consent of the company by a special resolution,
namely:
(a) To sell, lease or otherwise dispose of the whole or
substantially the whole of the undertaking of the company
or where the company owns more than one undertaking,
of the whole or substantially the whole of any of such
undertakings. Explanation. For the purposes of this
clause,
(i) undertaking shall mean an undertaking in which the
investment of the company exceeds twenty percent
of its net worth as per the audited balance sheet of
the preceding financial year or an undertaking which
generates twenty per cent of the total income of the
company during the previous financial year;
(ii) The expression substantially the whole of the
undertaking in any financial year shall mean twenty
per cent or more of the value of the undertaking as per
the audited balance sheet of the preceding financial
year. As discussed with the representative of your
Company and the review of the audited financial
statements of the preceding financial year of A Limited,
the propose transaction of transfer of manufacturing
March 2016
2. Related Party:
Related party definition is given in Section 2(76) of the Companies
Act, 2013. related party with reference to a company means(i) a director or his relative;
(ii) a key managerial personnel or his relative;
(iii) a firm, in which a director, manager or his relative is a partner;
(iv) a private company in which a director or manager is a member
or director;
(v) a public company in which a director or manager is a director
and holds along with his relatives, more than two per cent of
its paid-up share capital;
(vi) any body corporate whose Board of Directors, managing
director or manager is accustomed to act in accordance with
the advice, directions or instructions of a director or manager;
(vii) any person on whose advice, directions or instructions a director
or manager is accustomed to act: Provided that nothing in
sub-clauses (vi) and (vii) shall apply to the advice, directions
or instructions given in a professional capacity;
On the letter
For more understanding
ofhead
theof XXXXX
related party, please see the
below diagram:
Reporting Entity
Holding
Companys
Director (other
than an
independent
director), KMP
and his relative
Holding
Company
Subsidiary and
associate
Company
Subsidiary of
Holding
Director or Manager
Director or
KMP and his
relatives with
reference to
the Company
HUF, Spouse,
Father (including stepfather),
Mother (including stepmother),
Son (including stepson), Sons wife,
Daughter (including stepdaughter),
Daughters husband,
Brother ( including stepbrother),
Sister (including stepsister).
Private
Limited
Company of
which
Director or
Member
March 2016
77
78
Arms length:
the formula for variation in the price if any and (iii) such
other conditions as the Audit Committee may deem fit;
b. The Audit Committee shall satisfy itself the need for such
omnibus approval and that such approval is in the interest
of the company;
a. The Audit Committee shall lay down the criteria for granting
the omnibus approval in line with the policy on Related
Party Transactions of the company and such approval shall
be applicable in respect of transactions which are repetitive
in nature.
March 2016
79
Disclaimer:
Opinions stated above are limited to the matters set forth herein.
No opinion may be inferred or implied beyond the matters
expressly stated in this Opinion Letter. We assume no obligation
to advise you of changes in fact or law, whether or not deemed
material, which may be brought to our attention after the date
hereof. Our responsibility for the opinions upto the fees charged
by us.
REGD. NO. D. L.-33004/99
Thanking you,
Your faithfully
For XXXXXX
Signed
Name:
Designation:
REGD. NO. D. L.-33004/99
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NOTIFICATION
80
584 GI/2016
March 2016
Legal World
RASHTRIYA ISPAT NIGAM LTD v. PRATHYUSHA RESOURCES & INFRA PVT LTD & ANR [SC]
JAYA BISWAL & ORS v. BRANCH MANAGER, IFFCO TOKIO GENERAL INSURANCE COMPANY LTD & ANR [SC]
DEPUTY CHIEF MATERIALS MANAGER, RAIL COACH FACTORY, KAPURTHALA, PUNJAB v. FAIVELEY TRANSPORT
INDIA LTD & ORS. [COMPAT]
March 2016
81
Article
Legal world
Executive
MBA Programme
for
C Members
in association with
Symbiosis Centre for Management Studies
ICSI House, 22, Institutional Area, Lodi Road, New Delhi 110 003
tel 011-45341000, fax +91-11-2462 6727
email [email protected] website www.icsi.edu
82
March 2016
Corporate
Laws
Landmark Judgement
CS: LMJ: 5/03/2016
MADHUSUDAN GORDHANDAS & CO v. MADHU
WOOLLEN INDUSTRIES PVT. LTD [SC]
Civil Appeal No. 1113 of 1970
A.N. Ray & D.G.Palekar, JJ. [Decided on
29/10/1971]
Equivalent citations: 1971 AIR 2600; 1972 SCR (2)
201; (1972) 41 Comp Cas 125.
Companies Act,1956 section 433 winding up of a
company inability to pay debts loss of substratum
principles laid down.
Brief facts:
The appellants are a partnership firm. The partners are the
Katakias. They are three brothers. The appellants carry on
partnership business in the name of Madhu Wool Spinning Mills.
The respondent company has the nominal capital of Rs. 10,00,000
divided into 2000 shares of Rs. 500 each. The issued subscribed
and fully paid up capital of the company is Rs. 5,51,000 divided into
1,103 Equity shares of Rs. 500 each. The three Katakia brothers
had three shares in the company. The other 1,100 shares were
owned by N.C. Shah and other members described as the group
of Bombay Traders. Prior to the incorporation of the company
there was an agreement between the Bombay Traders and the
appellants in the month of May, 1965. The Bombay Traders
consisted of two groups known as the Nandkishore and the Valia
groups. The Bombay Traders was floating a new company for the
purpose of running a Shoddy Wool Plant. The Bombay Traders
agreed to pay about Rs. 6,00,000 to the appellants for acquisition
of machinery and installation charges thereof. The appellants had
imported some machinery and were in the process of importing
some more. The agreement provided that the erection expenses
of the machinery would be treated as a loan to the new company.
Another part of the agreement was that the machinery was to be
erected in portions of a shed in the compound of Ravi Industries
Private Limited. The company was to pay Rs. 3,100 as the monthly
rent of the portion of the shed occupied by them. The amount which
March 2016
Reason:
The High Court correctly gave four principal reasons to reject the
claims of the appellants to wind up the company as creditors. First,
that the books of account of the company did not show the alleged
claims of the appellants save and except the sum of Rs. 72,556.01.
Second, many of the alleged claims are barred by limitation. There
is no allegation by the appellants to support acknowledgement of
any claim to oust the plea of limitation. Thirdly, the Katakia brothers
who were the Directors resigned in the month of August, 1969 and
their three shares were transferred in the month of December,
1969 and up to the month of December, 1969 there was not a
single letter of demand to the company in respect of any claim.
Fourthly, one of the Katakia brother was the Chairman of the Board
of Directors and therefore the Katakias were in the knowledge as
to the affairs of the company and the books of accounts and they
signed the balance sheets which did not reflect any claim of the
appellants except the two invoices for the amounts of Rs. 14,650
and Rs. 36,000. The High Court characterised the claim of the
appellants as tainted by the vice of dishonesty.
The alleged debts of the appellants are disputed, denied, doubted
and at least in one instance proved to be dishonest by the
production of a receipt granted by the appellants. The books of
the company do not show any of the claims excepting in respect
of two invoices for Rs. 14,650 and Rs. 36,000. It was said by
the appellants that the books would not bind the appellants.
The appellants did not give any statutory notice to raise any
presumption of inability to pay debt. The appellants would therefore
83
Legal world
Legal world
84
March 2016
LW: 17:03:2016
MADRAS PETROCHEM LTD & ANR v. BIFR &
ORS [SC]
Civil Appeal Nos.614 615 of 2016 (Arising out of
SLP(C) Nos. 26170 26171 of 2008)
Kurian Joseph & Rohinton Fali Nariman, JJ.
[Decided on 29/01/2016]
Section 22 of the SICA read with section 13 of the
SARFESI Act enforcement of security of the sick
company by creditor banks whether provisions of
SICA prevail over the provisions of SARFESI Act
Held, No.
Brief facts:
The Appellant No.1 Company filed a reference underSICA before
the BIFR, which was registered as BIFR Case No.115 of 1989
and ICICI was appointed as the Operating Agency to formulate a
rehabilitation scheme. Two rehabilitation schemes were framed,
over a period of time, but failed to be implemented. Despite efforts
by the Operating Agency to attempt to revive the company, all such
efforts failed, and ultimately, on 30.4.2001, BIFR, on the basis of
March 2016
Reason:
After elaborately discussing plethora of case laws and the
background history of enacting SICA and SARFESI, the Court
arrived at the following conclusion:
Section 22of the SICA will continue to apply in the case of
unsecured creditors seeking to recover their debts from a sick
industrial company. This is for the reason that theSICA overrides
the provisions of theRecovery of Debts Due To Banks and
Financial Institutions Act, 1993.
Where a secured creditor of a sick industrial company seeks to
recover its debt in the manner provided by Section 13(2) of the
SARFESI Act, such secured creditor may realise such secured
debt under Section 13(4) of the SARFESI Act, notwithstanding
the provisions ofSection 22of the SICA.
In a situation where there are more than one secured creditor of a
sick industrial company or it has been jointly financed by secured
creditors, and at least 60 per cent of such secured creditors in value
of the amount outstanding as on a record date do not agree upon
exercise of the right to realise their security under the SARFESI
Act, Section 22of the SICA will continue to have full play.
Where, under Section 13(9) of the SARFESI Act, in the case of
a sick industrial company having more than one secured creditor
or being jointly financed by secured creditors representing 60 per
cent or more in value of the amount outstanding as on a record
date wish to exercise their rights to enforce their security under
the SARFESI Act,Section 22of the SICA, being inconsistent with
the exercise of such rights, will have no play.
85
Legal world
the extent of Rs. 4,95,000. The company will not have to meet
that claim now. On the contrary, the Nandkishore group will bring
in money to the company. This Nandkishore group is alleged by
the company to help the company in the export business. The
company has not abandoned objects of business. There is no such
allegation or proof. It cannot in the facts and circumstances of the
present case be held that the substratum of the company is gone.
Nor can it be held in the facts and circumstances of the present
case that the company is unable to meet the outstandings of any
of its admitted creditors. The company has deposited in court the
disputed claims of the appellants. The company has not ceased
carrying on its business. Therefore, the company will meet the
dues as and when they fall due. The company has reasonable
prospect of business and resources.
Legal world
General
Laws
LW: 18:03:2016
RASHTRIYA ISPAT NIGAM LTD v. PRATHYUSHA
RESOURCES & INFRA PVT LTD & ANR [SC]
Civil Appeal No. 3699 of 2006
Pinaki Chandra Ghose & R.K. Agrawal, JJ. [Decided
on 12/02/2016]
Arbitration and Conciliation Act, 1996 disputes as to
escalation letter as to the base year of calculation of
escalation whether time barred Held, No.
Brief facts:
The appellant awarded the work order for transportation to the
Respondent on 28.07.1992 and an agreement was entered into
between the appellant and respondent No.1 on 24.02.1993 which
was to expire on 31.03.1993. But owing to circumstances, the work
was extended several times and the contract was finally completed
on 23.10.1997. Issues arose as to the rate of escalation based on
the base year 1992 or 1994. Respondent submitted final bill having
three annexures out of which first two were admitted, however,
the appellant rejected the third one which was as to deciding the
base year for calculating escalation.
The Arbitration Tribunal decided the five issues framed in favour of
86
Reason:
We shall now consider the settled law on the subject. This Court
in a catena of judgments has laid down that the cause of action
arises when the real dispute arises i.e. when one party asserts and
the other party denies any right. The cause of action in the present
case is the claim of the respondent/claimant to the determination
of base year for the purposes of escalation and the calculation
made thereon, and the refusal of the appellant to pay as per the
calculations.
We find that the view taken by the High Court is correct as to when
the real dispute arose between the parties to be adjudicated by
the Arbitrator. It is nobody's case that the contract came to an end
on 23.10.1997, but the difference on determination of base year
first arose in the letter dated 15.7.1996. The said letter is already
controverted as the service of the same was seriously contested
before in Arbitration. However, the said letter was there even before
completion of the work and prior to that the respondent/claimant
had reserved his right to claim money later since the contract
was still subsisting then. In light of the above reservation by the
respondent/claimant, bills were raised in 1998 vide letter dated
4.9.1998, which actually resulted into exchange of letters which
formed the base of dispute between the parties. It is an admitted
fact that the bills were not finalized as could be seen from the
letters dated 7.2.2000 and 9.5.2000. Therefore, we find that the
findings of the learned Arbitrator and concurrently affirmed by the
High Court are correct on the point that the cause of action arose
on or after 4.9.1998. Hence, the said letter by the respondent/
claimant to the appellant to initiate arbitration was not barred by
the law of limitation.
LW: 19:03:2016
ROHINI KANOI & ANR v. ALLAHABAD BANK &
ORS [Del]
W.P. (C) 11068/2015
Pradeep Nandrajog & Mukta Gupta, JJ. [Decided on
09/02/2016]
Recovery proceedings impleadment of grand
children of the guarantor after 10 years whether
allowable Held, No.
Brief facts:
Allahabad Bank instituted recovery proceedings, in 2004, against
M/s East India Syntax Ltd. as respondent No.1 and Arun Garodia
March 2016
In the year 2014, the bank filed IA No.189/2014, pleading that the
petitioners, being the grand-children of N.P.Garodia, should be
impleaded as respondents No.2C and 2D. Without notice to the
petitioners, the application was allowed on October 13, 2014 and
thereafter notice in the original application was issued to them.
Reason:
It is trite that upon the death of a guarantor, if the guarantee is
invoked, the legal representatives have to be brought on record
to defend the action. The legal representative would mean the
person who in law represents the estate of the deceased. This
would obviously mean that if succession is intestate, all the legal
heirs. If succession is testamentary, the beneficiaries under the will.
The petitioners are the grand-children of N.P.Garodia and the
bank has not pleaded as to why the two would be the legal
representatives of N.P.Garodia. The bald assertion that the bank
has learnt that the estate of N.P.Garodia has been inherited by
the petitioners is no ground to trouble the petitioners to suffer the
trial. It was the duty of the bank to have made an assertion which
was specific and prima-facie made good with some documents to
show that the petitioners were the ones in law who had to represent
the estate of the deceased.
The Debts Recovery Tribunal and the Debts Recovery Appellate
Tribunal have accordingly misdirected themselves. Further, both
Foras have overlooked that N.P.Garodia was never impleaded
as respondent in the original application. His son Arun Garodia
was impleaded as respondent No.2 on the plea that he stood a
personal guarantee and also represented the estate of his father.
Both Foras had therefore to consider whether petitioners could
be impleaded after 10 years of the original application being filed
in the context of the two not being substituted as a legal heir of
an existing respondent but being impleaded for the first time as
the legal representatives of the deceased guarantor, in light of
the law of limitation for the reason a party impleaded in a suit
would require it to be treated that qua the party concerned the
suit was instituted on the day when the party was impleaded and
the summons issued.
We allow the writ petition and quash the impugned order dated
October 07, 2015. Allowing the appeal filed before the Debts
Recovery Appellate Tribunal we set aside the order dated August
20, 2015 passed by the Debts Recovery Appellate Tribunal and
allow IA No.523/2015 filed by the petitioners. Their names are
deleted from the array of respondents in OA No.85/2004..
March 2016
Industrial
& Labour
Laws
LW: 20:03:2016
NANDRAM v. GARWARE POLYSTER LTD [SC]
Civil Appeal No. 1409 of 2016 (Arising out of SLP (C)
No. 33917 of 2011)
Kurian Joseph&Rohinton Fali Nariman, JJ. [Decided
on 16/02/2016]
Industrial Disputes Act, 1954 company having
registered office at Aurangabad workman appointed
in Aurangabad and later transferred to Pondicherry
Pondicherry establishment closed workman
was terminated workman raised dispute and filed
complaint at Aurangabad rejected on the ground of
lack of jurisdiction whether correct Held, No.
Brief facts:
The appellant was employed by the respondent initially as Boiler
Attendant in the year 1983 in the Company in Aurangabad.
Thereafter he was promoted as Junior Supervisor in the year
1987 and worked in the Aurangabad plant only. In the year 1995,
he was again promoted as Senior Supervisor and continued in
Aurangabad. However, by proceedings dated 21.10.2000, the
appellant was transferred to Silvasa in Gujarat. By another order
dated 20.12.2001 he was transferred from Silvasa to Pondicherry.
While so, by proceeding dated 12.04.2005, appellant was
terminated from service w.e.f. 15.04.2005 on account of closure
of the establishment at Pondicherry. It is not in dispute that
the registered office of the Company is in Aurangabad and the
decision to close the establishment at Pondicherry was taken by
the Company at Aurangabad.
Aggrieved by the termination, appellant moved the Labour Court at
Aurangabad in complaint ULP No.56 of 2005. Despite the objection
taken by the respondent that the Labour Court lacked jurisdiction,
the Court held in favour of the complainant.
Aggrieved, the respondent-Company took up the matter before the
Industrial Court at Aurangabad in revision. The Industrial Court
at Aurangabad vide order dated 04.07.2009 set aside the order
passed by the Labour Court and dismissed the complaint of the
appellant holding that the Labour Court at Aurangabad did not have
territorial jurisdiction to entertain the complaint of the appellant,
since the termination took place at Pondicherry. The appellant
moved the High Court of Judicature of Bombay at Aurangabad in
Writ Petition No. 4968 of 2009. The High Court by judgment dated
87
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Legal world
07.06.2011 affirmed the view taken by the Industrial Court and held
that the situs of employment of the appellant being Pondicherry,
the Labour Court at Aurangabad did not have territorial jurisdiction
to go into the complaint filed by the appellant. Thus aggrieved, the
appellant is before this Court.
Reason:
In the background of the factual matrix, the undisputed position is
that the appellant was employed by the Company in Aurangabad,
he was only transferred to Pondicherry, the decision to close down
the unit at Pondicherry was taken by the Company at Aurangabad
and consequent upon that decision only the appellant was
terminated. Therefore, it cannot be said that there is no cause of
action at all in Aurangabad. The decision to terminate the appellant
having been taken at Aurangabad necessarily part of the cause of
action has arisen at Aurangabad. We have no quarrel that Labour
Court, Pondicherry is within its jurisdiction to consider the case of
the appellant, since he has been terminated while he was working
at Pondicherry. But that does not mean that Labour Court in
Aurangabad within whose jurisdiction the Management is situated
and where the Management has taken the decision to close down
the unit at Pondicherry and pursuant to which the appellant was
terminated from service also does not have the jurisdiction. In the
facts of this case both the Labour Courts have the jurisdiction to
deal with the matter. Hence, the Labour Court at Aurangabad is well
within its jurisdiction to consider the complaint filed by the appellant.
Therefore, we set aside the order passed by the High Court and
the Industrial Court at Aurangabad and restore the order passed
by the Labour Court, Aurangabad though for different reasons.
The Labour Court shall consider the complaint on merits and pass
final orders within six months from today. The parties are directed
to appear before the Labour Court on 08.03.2016.
LW: 21:03:2016
JAYA BISWAL & ORS v. BRANCH MANAGER,
IFFCO TOKIO GENERAL INSURANCE COMPANY
LTD & ANR [SC]
Civil Appeal No.869 of 2016 (Arising out of S.L.P.
(C) No. 1903 of 2015)
V. Gopala Gowda & Uday Umesh Lalit, JJ. [Decided
on 04/02/2016]
Employees Compensation Act, 1923 truck driver
died due to accident while on proceeding to deliver
the goods on the way whether accident arose in the
course of employment Held, yes.
Brief facts:
The present appeal arises out of the impugned judgment and
order dated 13.08.2014 passed in F.A.O. No. 472 of 2013 by the
High Court of Orissa at Cuttack, wherein the learned single Judge
reduced the amount of compensation awarded to the appellants
88
Reason
We have heard the learned counsel appearing on behalf of both
the parties. We are unable to agree with the contentions advanced
by the learned counsel appearing on behalf of the respondent
Insurance Company.
The E.C. Act is a welfare legislation enacted to secure
compensation to the poor workmen who suffer from injuries at their
place of work. This becomes clear from a perusal of the preamble
of the Act which reads as under: An Actto provide for the payment
by certain classes of employers to their workmen of compensation
for injury by accident. This further becomes clear from a perusal
of the Statement of Objects and Reasons, which reads as under:
The growing complexity of industry in this country, with the
increasing use of machinery and consequent danger to workmen,
along with the comparative poverty of the workmen themselves,
renders it advisable that they should be protected, as far as
possible, from hardship arising from accidents.
An additional advantage of legislation of this type is that by
increasing the importance for the employer of adequate safety
devices, it reduces the number of accidents to workmen in a
manner that cannot be achieved by official inspection. Further, the
encouragement given to employers to provide adequate medical
treatment for their workmen should mitigate the effects to such
accidents as do occur. The benefits so conferred on the workman
added to the increased sense of security which he will enjoy, should
render industrial life more attractive and thus increase the available
supply of labour. At the same time, a corresponding increase in the
efficiency of the average workman may be expected. (Emphasis
laid by this Court) Thus, the E.C. Act is a social welfare legislation
meant to benefit the workers and their dependents in case of death
of workman due to accident caused during and in the course of
employment should be construed as such.
In order to succeed, it has to be proved by the employee that (1)
March 2016
Competition
& Consumer
Laws
LW: 22:03:2016
DEPUTY CHIEF MATERIALS MANAGER, RAIL
COACH FACTORY, KAPURTHALA, PUNJAB
v.FAIVELEY TRANSPORT INDIA LTD & ORS.
[COMPAT]
Appeal No. 10 of 2016 and I.A. No. 29 of 2016
G.S. Singhvi, J. (Chairman) &Rajeev Kher, Member
[Decided on 17/02/2016]
Competition Act, 2002 sections 3 & 4 quoting of
identical price by bidders whether, by ipso facto,
constitutes cartel Held, No.
Brief facts:
This appeal is directed against order dated 08.09.2015 passed by
the Competition Commission of India (for short, the 'Commission')
in reference Case No. 06 of 2013, whereby it was held that the
evidence relied upon by the Director General (DG) is not sufficient
for holding that the Opposite Parties (Respondents herein) are
in contravention of the provisions of theActand closed the case.
The respondents are the suppliers of Axle Mounted Disk Brake
System (AMDBS)to the appellant railways to be fitted in the LHB
coaches. The railways floated tenders for the supply of AMDBS
and the respondents were the successful bidders. They quoted
identical rate which was accepted by the railways.
The appellant made a complaint to the CCI alleging that the
respondents have formed a cartel and thereby violated the
provisions of sections 3 & 4 of the Competition Act. The matter
was referred to the director of investigation who submitted a report
stating that there was a cartel as alleged. However, after examining
the issues, the CCI dismissed the complaint. Hence this appeal.
Reason:
The question whether identical price quoted by the bidders can
be made the sole basis for recording an affirmative finding on the
issue of cartel formation was considered by the Supreme Court in
Union of India v. Hindustan Development Corporation and others,
which has been reported in two parts of the Supreme Court Cases.
The first part which contains the facts of that case and conclusions
89
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Brief facts:
The Opposite Party brings out several advertisements in various
daily newspapers promising various services relating to painting of
house such as painting by trained painters with supervision, one
year warranty in respect of jobs done etc. to the public at large.
Attracted by such advertisements and brand name of the Opposite
Party and expecting high quality and smooth service, the Informant
opted to avail the services of the Opposite Party for painting of
her residential premises. The Informant placed orders for interior
painting of the ground floor portion and total exterior painting of
the premises. Two estimates amounting to Rs. 37,574/- & Rs.
62,081/- on the aforesaid dates were given by the Opposite Party.
Thereafter, two more estimates to the tune of Rs. 62,490/- and Rs.
13,120/- dated 29.03.2010 and 30.04.2010 were given for painting
of ceiling, walls of master bedroom and second bathroom for which
full payments were made in advance with due acknowledgement.
The Informant was shocked to find that there were no receipt
vouchers from the Opposite Party pertaining to various jobs
undertaken rather they were in the name of Colour Concepts. The
Informant for the first time was made aware of the tie up which the
Opposite Party seems to have entered into with Colour Concepts.
As per the Informant, for the said painting works no colour plan
was approved by her rather the Opposite Party went ahead with
its own colour plan. It is averred that even after receiving the
payments from time to time, the painting jobs were not up to the
mark as the paint was peeling out at number of places and all the
painting works were not completed.
The Informant inter alia has alleged that the following activities of
the Opposite Party are anti-competitive:
The market for selling of paints and the market for providing
painting service cannot be separated since both constitute a
single service under a distinct brand name. When name like
Asian Paint Home Solutions appear in the advertisements,
the consumers are likely to draw the conclusion that both
purchase of paints and the service of painting will be provided
by a single entity i.e. the Opposite Party.
LW: 23:03:2016
BELARANI BHATTACHARYYA v.ASIAN PAINTS
LTD. [CCI]
Case No. 102 of 2015
S.L. Bunker,Sudhir Mital,Augustine Peter,U.C.
Nahta,M.S. Sahoo, &G.P. Mittal.[Decided
On:27.01.2016]
90
March 2016
Reason:
The Commission has perused the information and material
available on record and also heard the counsel appearing on
behalf of the Informant.
The gravamen of the Informant stem from the fact that the
Opposite Party has not provided appropriate painting services to
the Informant and has also not completed the painting works at her
residential premises, as promised through various advertisements.
The Informant has alleged violation of the provisions of
sections3and4of the Act in the matter.
At the outset, the Commission takes note of the fact that the
Informant had earlier filed similar information with the Commission
in case No. 08 of 2011 against the same the Opposite Party which
was closed under section26(2)of the Act. The Commission held
that none of the provisions of either section3or section4of the Act
were violated by M/s. Asian Paints Ltd. The Commission held that
there was no case of any agreement between Asian Paints and other
paint companies or practice adopted by any association of painting
companies operating in the relevant market, thus section3(3)of the
Act does not apply to the facts of the case. Also, it was held that none
of the clauses of section3(4)read with section3(1)is applicable
to the facts of the case. With regard to the allegation of violation of
section4of the Act the Commission held that the Opposite Party
was not in a dominant position in the relevant market of 'providing
home solution services for painting homes in geographical area of
Kolkata' because all the major companies such as Berger, Nerolac,
etc. are providing home solution services for painting homes.
The Commission observes that the Informant has not submitted any
additional material or evidences with the information in the instant
case so as to draw a different conclusion from case No. 08 of 2011
regarding contravention of the provisions of sections3and4of the
Act. As the facts and allegations remain the same, the Commission
is of the view that no case of contravention of any of the provisions
of either section3or section4of the Act is made out against the
Opposite Party in the instant case.
In the light of the above analysis, the Commission finds that none
of the provisions of either section3or section4is violated by the
Opposite Party in the instant matter. Accordingly, the matter is
closed in terms of the provisions of section26(2)of the Act.
LW: 24:03:2016
INDIAN MACHINERY COMPANY v. ANSAL
HOUSING & CONSTRUCTION LTD [SC]
Civil Appeal No.557 of 2016 (Arising out of SLP(C)
No.19618 of 2013)
Madan B. Lokur & R.K. Agrawal, JJ. [Decided on
27/01/2016]
Consumer Protection Act, 1986 first complaint
dismissed due to the default of non prosecution-
March 2016
Brief facts:
We have heard learned counsel for the parties. The only question
that has arisen in this appeal is whether a second complaint to
the District Forum under theConsumer Protection Act, 1986 is
maintainable when the first complaint was dismissed for default
or non- prosecution. The National Commission has taken the
view in the impugned order that the second complaint would not
be maintainable.
Reason:
Our attention has been drawn to a decision of this Court in
New India Assurance Co Ltd v. R. Srinivasan [(2000) 3 SCC
242] wherein this precise question had arisen as mentioned in
paragraph 5 of this decision. It is mentioned in that paragraph
that the only question is that in view of the dismissal of the first
complaint filed by the respondent therein, a second complaint on
the same facts and cause of action would not lie and it ought to
have been dismissed as not maintainable.
While dealing with this issue, this Court held in paragraph 16 as
follows:
This Rule [Rule 9(6) of the Tamil Nadu Consumer Protection
Rules, 1988] is in identical terms with sub-rule (8) of Rule 4 and
sub-rule (8) of Rule 8. Under this sub-rule, the appeal filed before
the State Commission against the order of the District Forum,
can be dismissed in default or the State Commission may in its
discretion dispose of it on merits. Similar power has been given
to the National Commission under Rule 15(6) of the Rules made
by the Central Government under Section 30(1)of the Act. These
Rules do not provide that if a complaint is dismissed in default by
the District Forum under Rule 4(8) or by the State Commission
under Rule 8(8) of the Rules, a second complaint would not lie.
Thus, there is no provision parallel to the provision contained in
Order 9 Rule 9(1) CPC which contains a prohibition that if a suit is
dismissed in default of the plaintiff under Order 9 Rule 8, a second
suit on the same cause of action would not lie. That being so, the
rule of prohibition contained in Order 9 Rule 9(1) CPC cannot be
extended to the proceedings before the District Forum or the State
Commission. The fact that the case was not decided on merits and
was dismissed in default of non-appearance of the complainant
cannot be overlooked and, therefore, it would be permissible to
file a second complaint explaining why the earlier complaint could
not be pursued and was dismissed in default.
We have also not been shown any rule similar to Order IX, Rule
9(1) of the Code of Civil Procedure, 1908. That being so, and in
view of the decision rendered by this Court, with which we have no
reason to disagree, we are of the opinion that the second complaint
filed by the appellant was maintainable on the facts of this case.
Under the circumstances, we set aside the order passed by the
National Commission and remit the matter back to the National
Commission for adjudicating the disputes on merits.
91
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March 2016
From the
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Securities and Exchange Board of India (Mutual Funds) (Amendment) Regulations, 2016
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Also seen Justice (Dr.) Arijit Pasayat, Co-Chairman, IOD India and former Judge, Supreme Court of India
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e. Further, the information on unclaimed amount alongwith its prevailing value (based on income earned
on deployment of such unclaimed amount), shall be
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statement of accounts / Consolidated Account
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CONDITIONS AND MANNER OF PROVIDING EXIT
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made by the promoters or shareholders in control of an issuer
to the dissenting shareholders in terms of section 13(8) and
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(2) The provisions of this Chapter shall not apply where there are
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"1. A mutual fund scheme shall not invest more than 10%
of its NAV in debt instruments comprising money market
instruments and non-money market instruments issued
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grade by a credit rating agency authorised to carry out
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ASSOCIATES**
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FCS - 8444
FCS - 8445
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FCS - 8460
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FCS - 8468
FCS - 8469
FCS - 8470
FCS - 8471
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FCS - 8477
FCS - 8478
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FCS - 8485
EIRC
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95
96
97
98
99
100
101
102
103
104
105
106
107
108
109
110
111
112
113
114
115
116
117
118
119
120
121
122
123
124
125
126
127
128
129
130
131
132
133
134
135
136
137
138
139
140
141
142
143
144
145
146
147
148
149
150
151
152
153
154
104
ACS - 43284
ACS - 43285
ACS - 43286
ACS - 43287
ACS - 43288
ACS - 43289
ACS - 43290
ACS - 43291
ACS - 43292
ACS - 43293
ACS - 43294
ACS - 43295
ACS - 43296
ACS - 43297
ACS - 43298
ACS - 43299
ACS - 43300
ACS - 43301
ACS - 43302
ACS - 43303
ACS - 43304
ACS - 43305
ACS - 43306
ACS - 43307
ACS - 43308
ACS - 43309
ACS - 43310
ACS - 43311
ACS - 43312
ACS - 43313
ACS - 43314
ACS - 43315
ACS - 43316
ACS - 43317
ACS - 43318
ACS - 43319
ACS - 43320
ACS - 43321
ACS - 43322
ACS - 43323
ACS - 43324
ACS - 43325
ACS - 43326
ACS - 43327
ACS - 43328
ACS - 43329
ACS - 43330
ACS - 43331
ACS - 43332
ACS - 43333
ACS - 43334
ACS - 43335
ACS - 43336
ACS - 43337
ACS - 43338
ACS - 43339
ACS - 43340
ACS - 43341
ACS - 43342
ACS - 43343
ACS - 43344
ACS - 43345
ACS - 43346
ACS - 43347
ACS - 43348
ACS - 43349
ACS - 43350
ACS - 43351
ACS - 43352
ACS - 43353
ACS - 43354
ACS - 43355
ACS - 43356
WIRC
WIRC
WIRC
WIRC
WIRC
WIRC
WIRC
WIRC
WIRC
WIRC
WIRC
WIRC
WIRC
WIRC
WIRC
WIRC
WIRC
WIRC
WIRC
NIRC
EIRC
NIRC
NIRC
NIRC
NIRC
NIRC
NIRC
SIRC
WIRC
SIRC
SIRC
NIRC
SIRC
EIRC
EIRC
EIRC
WIRC
NIRC
NIRC
NIRC
NIRC
NIRC
NIRC
NIRC
NIRC
WIRC
NIRC
NIRC
NIRC
NIRC
SIRC
WIRC
WIRC
WIRC
WIRC
EIRC
WIRC
WIRC
NIRC
NIRC
NIRC
SIRC
NIRC
NIRC
NIRC
NIRC
NIRC
NIRC
NIRC
NIRC
NIRC
NIRC
NIRC
155
156
157
158
159
160
161
162
163
164
165
166
167
168
169
170
171
172
173
174
175
176
177
178
179
180
181
182
183
184
185
186
187
188
189
190
191
192
193
194
195
196
197
198
199
200
201
202
203
204
205
206
207
208
209
210
211
212
213
214
215
216
217
218
219
220
221
222
223
224
225
226
227
ACS - 43357
ACS - 43358
ACS - 43359
ACS - 43360
ACS - 43361
ACS - 43362
ACS - 43363
ACS - 43364
ACS - 43365
ACS - 43366
ACS - 43367
ACS - 43368
ACS - 43369
ACS - 43370
ACS - 43371
ACS - 43372
ACS - 43373
ACS - 43374
ACS - 43375
ACS - 43376
ACS - 43377
ACS - 43378
ACS - 43379
ACS - 43380
ACS - 43381
ACS - 43382
ACS - 43383
ACS - 43384
ACS - 43385
ACS - 43386
ACS - 43387
ACS - 43388
ACS - 43389
ACS - 43390
ACS - 43391
ACS - 43392
ACS - 43393
ACS - 43394
ACS - 43395
ACS - 43396
ACS - 43397
ACS - 43398
ACS - 43399
ACS - 43400
ACS - 43401
ACS - 43402
ACS - 43403
ACS - 43404
ACS - 43405
ACS - 43406
ACS - 43407
ACS - 43408
ACS - 43409
ACS - 43410
ACS - 43411
ACS - 43412
ACS - 43413
ACS - 43414
ACS - 43415
ACS - 43416
ACS - 43417
ACS - 43418
ACS - 43419
ACS - 43420
ACS - 43421
ACS - 43422
ACS - 43423
ACS - 43424
ACS - 43425
ACS - 43426
ACS - 43427
ACS - 43428
ACS - 43429
NIRC
NIRC
NIRC
NIRC
SIRC
WIRC
WIRC
WIRC
WIRC
WIRC
WIRC
WIRC
WIRC
WIRC
WIRC
WIRC
SIRC
WIRC
WIRC
WIRC
WIRC
WIRC
WIRC
WIRC
WIRC
WIRC
SIRC
WIRC
WIRC
WIRC
NIRC
SIRC
NIRC
EIRC
EIRC
EIRC
NIRC
NIRC
NIRC
NIRC
NIRC
NIRC
NIRC
NIRC
NIRC
NIRC
NIRC
NIRC
NIRC
SIRC
SIRC
SIRC
SIRC
WIRC
WIRC
WIRC
WIRC
WIRC
WIRC
WIRC
WIRC
WIRC
WIRC
WIRC
NIRC
NIRC
EIRC
NIRC
NIRC
NIRC
NIRC
NIRC
NIRC
March 2016
March 2016
ACS - 43430
ACS - 43431
ACS - 43432
ACS - 43433
ACS - 43434
ACS - 43435
ACS - 43436
ACS - 43437
ACS - 43438
ACS - 43439
ACS - 43440
ACS - 43441
ACS - 43442
ACS - 43443
ACS - 43444
ACS - 43445
ACS - 43446
ACS - 43447
ACS - 43448
ACS - 43449
ACS - 43450
ACS - 43451
ACS - 43452
ACS - 43453
ACS - 43454
ACS - 43455
ACS - 43456
ACS - 43457
ACS - 43458
ACS - 43459
ACS - 43460
ACS - 43461
ACS - 43462
ACS - 43463
ACS - 43464
ACS - 43465
ACS - 43466
ACS - 43467
ACS - 43468
ACS - 43469
ACS - 43470
ACS - 43471
ACS - 43472
ACS - 43473
ACS - 43474
ACS - 43475
ACS - 43476
ACS - 43477
ACS - 43478
ACS - 43479
ACS - 43480
ACS - 43481
ACS - 43482
ACS - 43483
ACS - 43484
ACS - 43485
ACS - 43486
ACS - 43487
ACS - 43488
ACS - 43489
ACS - 43490
ACS - 43491
ACS - 43492
ACS - 43493
ACS - 43494
ACS - 43495
ACS - 43496
ACS - 43497
ACS - 43498
ACS - 43499
ACS - 43500
ACS - 43501
ACS - 43502
NIRC
NIRC
NIRC
NIRC
NIRC
NIRC
SIRC
SIRC
SIRC
SIRC
WIRC
WIRC
WIRC
WIRC
WIRC
WIRC
WIRC
WIRC
WIRC
WIRC
WIRC
WIRC
WIRC
NIRC
NIRC
NIRC
NIRC
NIRC
NIRC
NIRC
NIRC
NIRC
WIRC
WIRC
WIRC
EIRC
EIRC
EIRC
EIRC
EIRC
EIRC
EIRC
EIRC
EIRC
EIRC
EIRC
EIRC
EIRC
EIRC
EIRC
EIRC
EIRC
EIRC
EIRC
EIRC
EIRC
EIRC
EIRC
EIRC
EIRC
EIRC
EIRC
EIRC
EIRC
EIRC
EIRC
EIRC
EIRC
SIRC
SIRC
EIRC
SIRC
NIRC
301
302
303
304
305
306
307
308
309
310
311
312
313
314
315
316
317
318
319
320
321
322
323
324
325
326
327
328
329
330
331
332
333
334
335
336
337
338
339
340
341
342
343
344
345
346
347
348
349
350
351
352
353
354
355
356
357
358
359
360
361
362
363
364
365
366
367
368
369
370
371
372
373
ACS - 43503
ACS - 43504
ACS - 43505
ACS - 43506
ACS - 43507
ACS - 43508
ACS - 43509
ACS - 43510
ACS - 43511
ACS - 43512
ACS - 43513
ACS - 43514
ACS - 43515
ACS - 43516
ACS - 43517
ACS - 43518
ACS - 43519
ACS - 43520
ACS - 43521
ACS - 43522
ACS - 43523
ACS - 43524
ACS - 43525
ACS - 43526
ACS - 43527
ACS - 43528
ACS - 43529
ACS - 43530
ACS - 43531
ACS - 43532
ACS - 43533
ACS - 43534
ACS - 43535
ACS - 43536
ACS - 43537
ACS - 43538
ACS - 43539
ACS - 43540
ACS - 43541
ACS - 43542
ACS - 43543
ACS - 43544
ACS - 43545
ACS - 43546
ACS - 43547
ACS - 43548
ACS - 43549
ACS - 43550
ACS - 43551
ACS - 43552
ACS - 43553
ACS - 43554
ACS - 43555
ACS - 43556
ACS - 43557
ACS - 43558
ACS - 43559
ACS - 43560
ACS - 43561
ACS - 43562
ACS - 43563
ACS - 43564
ACS - 43565
ACS - 43566
ACS - 43567
ACS - 43568
ACS - 43569
ACS - 43570
ACS - 43571
ACS - 43572
ACS - 43573
ACS - 43574
ACS - 43575
WIRC
WIRC
WIRC
WIRC
WIRC
WIRC
WIRC
WIRC
WIRC
WIRC
WIRC
NIRC
NIRC
NIRC
NIRC
NIRC
NIRC
NIRC
NIRC
SIRC
WIRC
NIRC
NIRC
WIRC
NIRC
NIRC
NIRC
NIRC
NIRC
NIRC
NIRC
NIRC
NIRC
SIRC
WIRC
EIRC
EIRC
EIRC
EIRC
NIRC
NIRC
NIRC
SIRC
WIRC
WIRC
WIRC
EIRC
EIRC
EIRC
EIRC
EIRC
EIRC
EIRC
EIRC
EIRC
EIRC
EIRC
EIRC
NIRC
NIRC
NIRC
NIRC
NIRC
NIRC
EIRC
NIRC
NIRC
NIRC
NIRC
NIRC
NIRC
NIRC
NIRC
105
228
229
230
231
232
233
234
235
236
237
238
239
240
241
242
243
244
245
246
247
248
249
250
251
252
253
254
255
256
257
258
259
260
261
262
263
264
265
266
267
268
269
270
271
272
273
274
275
276
277
278
279
280
281
282
283
284
285
286
287
288
289
290
291
292
293
294
295
296
297
298
299
300
374
375
376
377
378
379
380
381
382
383
384
385
386
387
388
389
390
391
392
393
394
395
396
397
398
399
400
401
402
403
404
405
406
407
408
409
410
411
412
413
414
415
416
417
418
419
420
421
422
423
424
425
426
427
428
429
430
431
432
433
434
435
436
437
438
439
440
441
442
443
444
445
446
106
ACS - 43576
ACS - 43577
ACS - 43578
ACS - 43579
ACS - 43580
ACS - 43581
ACS - 43582
ACS - 43583
ACS - 43584
ACS - 43585
ACS - 43586
ACS - 43587
ACS - 43588
ACS - 43589
ACS - 43590
ACS - 43591
ACS - 43592
ACS - 43593
ACS - 43594
ACS - 43595
ACS - 43596
ACS - 43597
ACS - 43598
ACS - 43599
ACS - 43600
ACS - 43601
ACS - 43602
ACS - 43603
ACS - 43604
ACS - 43605
ACS - 43606
ACS - 43607
ACS - 43608
ACS - 43609
ACS - 43610
ACS - 43611
ACS - 43612
ACS - 43613
ACS - 43614
ACS - 43615
ACS - 43616
ACS - 43617
ACS - 43618
ACS - 43619
ACS - 43620
ACS - 43621
ACS - 43622
ACS - 43623
ACS - 43624
ACS - 43625
ACS - 43626
ACS - 43627
ACS - 43628
ACS - 43629
ACS - 43630
ACS - 43631
ACS - 43632
ACS - 43633
ACS - 43634
ACS - 43635
ACS - 43636
ACS - 43637
ACS - 43638
ACS - 43639
ACS - 43640
ACS - 43641
ACS - 43642
ACS - 43643
ACS - 43644
ACS - 43645
ACS - 43646
ACS - 43647
ACS - 43648
NIRC
NIRC
NIRC
EIRC
WIRC
WIRC
WIRC
WIRC
WIRC
WIRC
NIRC
NIRC
NIRC
NIRC
NIRC
NIRC
NIRC
NIRC
NIRC
NIRC
NIRC
NIRC
NIRC
NIRC
NIRC
NIRC
NIRC
NIRC
NIRC
NIRC
NIRC
NIRC
NIRC
NIRC
NIRC
NIRC
NIRC
SIRC
SIRC
SIRC
SIRC
SIRC
SIRC
SIRC
WIRC
WIRC
WIRC
WIRC
WIRC
WIRC
WIRC
WIRC
WIRC
WIRC
WIRC
WIRC
WIRC
WIRC
WIRC
WIRC
WIRC
WIRC
WIRC
WIRC
WIRC
EIRC
NIRC
EIRC
NIRC
NIRC
NIRC
NIRC
NIRC
447
448
449
450
451
452
453
454
455
456
457
458
459
460
461
462
463
464
465
466
467
468
469
470
471
472
473
474
475
476
477
478
479
480
481
482
483
484
485
486
488
489
ACS - 43649
ACS - 43650
ACS - 43651
ACS - 43652
ACS - 43653
ACS - 43654
ACS - 43655
ACS - 43656
ACS - 43657
ACS - 43658
ACS - 43659
ACS - 43660
ACS - 43661
ACS - 43662
ACS - 43663
ACS - 43664
ACS - 43665
ACS - 43666
ACS - 43667
ACS - 43668
ACS - 43669
ACS - 43670
ACS - 43671
ACS - 43672
ACS - 43673
ACS - 43674
ACS - 43675
ACS - 43676
ACS - 43677
ACS - 43678
ACS - 43679
ACS - 43680
ACS - 43681
ACS - 43682
ACS - 43683
ACS - 43684
ACS - 43685
ACS - 43686
ACS - 43687
ACS - 43688
ACS - 43689
ACS - 43690
EIRC
NIRC
WIRC
WIRC
EIRC
NIRC
EIRC
EIRC
EIRC
EIRC
EIRC
NIRC
NIRC
NIRC
NIRC
NIRC
NIRC
NIRC
NIRC
NIRC
NIRC
NIRC
NIRC
NIRC
SIRC
WIRC
WIRC
WIRC
WIRC
WIRC
WIRC
WIRC
WIRC
EIRC
WIRC
WIRC
WIRC
WIRC
WIRC
WIRC
WIRC
WIRC
MEMBERS RESTORED*
Sl.No.
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
26748
19393
6322
31038
33910
13087
24451
3733
23175
30593
18955
17332
10154
24776
23372
Region
VANDANA GUPTA
JAYDEEP KRISHNAN KURUP
SANJAY KINGER
SURESH SAMPAT CHATTISE
RAJ KUMAR
BULUSU SUNDARA LAKSHMI
ANAND ARORA
R SRINIVASAN
GAURAV KUMAR
NARAIN KA RAAMKUMAR
YOGESH ISHWARLAL DAVE
VIKAS DHAWAN
G V VIJAYA RAGHAV
SUJATA JAYANT
KAVITA VIKRAM KHANNA
NIRC
SIRC
F/NIRC
WIRC
NIRC
SIRC
SIRC
SIRC
NIRC
SIRC
WIRC
NIRC
SIRC
SIRC
WIRC
Certificate of Practice**
SL. No. NAME
1
MS. BARKHA ARORA
2
MR. ARPIT KUMAR GOYAL
March 2016
NIRC
NIRC
NIRC
WIRC
NIRC
WIRC
NIRC
WIRC
WIRC
NIRC
EIRC
WIRC
NIRC
NIRC
EIRC
WIRC
EIRC
NIRC
NIRC
NIRC
NIRC
NIRC
NIRC
SIRC
SIRC
WIRC
EIRC
EIRC
WIRC
NIRC
NIRC
WIRC
WIRC
WIRC
NIRC
NIRC
NIRC
NIRC
NIRC
EIRC
NIRC
NIRC
NIRC
NIRC
NIRC
SIRC
EIRC
NIRC
NIRC
NIRC
EIRC
WIRC
WIRC
SIRC
WIRC
SIRC
EIRC
WIRC
NIRC
EIRC
EIRC
WIRC
NIRC
WIRC
NIRC
EIRC
NIRC
15802
15803
15804
15805
15806
15807
15808
15809
15810
15811
15812
15813
15814
15815
15816
15817
15818
15819
15820
15821
15822
15823
15824
15825
15826
15827
15828
15829
15830
15831
15832
15833
15834
15835
15836
15837
15838
15839
15840
15841
15842
15843
15844
15845
15846
15847
15848
15849
15850
15851
15852
15853
15854
15855
15856
15857
15858
15859
15860
15861
15862
15863
15864
15865
15866
15867
15868
70
71
72
73
74
75
76
77
78
79
80
81
82
83
84
85
86
87
88
89
90
91
92
93
94
95
96
97
98
99
100
101
102
103
104
105
106
107
108
109
NIRC
NIRC
NIRC
WIRC
SIRC
NIRC
SIRC
SIRC
WIRC
EIRC
NIRC
NIRC
WIRC
NIRC
WIRC
NIRC
WIRC
NIRC
WIRC
WIRC
NIRC
SIRC
WIRC
NIRC
SIRC
WIRC
NIRC
NIRC
WIRC
WIRC
WIRC
NIRC
NIRC
NIRC
EIRC
NIRC
NIRC
SIRC
SIRC
NIRC
15869
15870
15871
15872
15873
15874
15875
15876
15877
15878
15879
15880
15881
15882
15883
15884
15885
15886
15887
15888
15889
15890
15891
15892
15893
15894
15895
15896
15897
15898
15899
15900
15901
15902
15903
15904
15905
15906
15907
15908
Cancelled*
SL. No.
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
NAME
MS. SHWETA YADAV
MR. RAVINDER KUMAR
MRS. RITU DUNGARWAL
MS. NEHA KHERIA
MR. SAIBAL CHOWDHURY
MS. RAVEENA JOLLY
MR. SRIKANTH REDDY KOLLI
MS. MEGHA RAMESHCHANDRA CHOKSHI
MR. UMESH ROY
MS. YASHIKA
MR. GNANENDRA KUMAR G
MS. MEENA KUMARI
MS. DEVIKA MAHESHWARI
MS. TIWARI KOMAL
MR. CHAKRAVARTHY PHANI NADUPALLE
MR. BIPIN VIVEK
MS. KHUSHBOO KOTHARI
MR. GOVIND SINGH
MR. SIDDHARTH GAUTAM
MRS. PRITI TODI
MEMB NO
ACS 39456
FCS 4821
ACS 41476
ACS 31763
ACS 41083
ACS 36659
ACS 25290
ACS 31428
ACS 31988
ACS 31005
FCS 8108
ACS 30374
ACS 25812
ACS 37092
ACS 32380
ACS 35476
ACS 33720
ACS 41173
ACS 36657
ACS 33367
March 2016
107
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46
47
48
49
50
51
52
53
54
55
56
57
58
59
60
61
62
63
64
65
66
67
68
69
21
22
23
24
25
26
27
28
29
ACS 31199
ACS 30539
ACS 39140
ACS 30222
ACS 27138
ACS 31294
ACS 31129
ACS 31236
ACS 39421
12633
12430
14585
14580
14192
12252
14254
12256
15305
WIRC
NIRC
WIRC
SIRC
NIRC
NIRC
WIRC
EIRC
WIRC
licentiate ICSI*
Sl. No. L.No.
NAME
1
2
3
4
5
6
7
8
R ARUNKUMAR
PRATIBHA CHHATARMAI JAIN
RANJIT KUMAR JENA
ANIRUDDHA DILIP BHIDE
PRASHANT KRISHNASA MEHARWADE
MR. NADIKATLA RAMESH
MS SAKSHI BANGAR
MS. MANI GUPTA
6811
6812
6813
6814
6815
6816
6817
6818
Region
SIRC
WIRC
NIRC
WIRC
SIRC
SIRC
NIRC
NIRC
L. No.
6130
6133
6134
6135
6137
6142
6143
6144
6146
6147
6148
6150
6151
6154
6155
6156
6157
6159
6162
6163
6165
6167
6171
6172
6173
6174
6175
6176
6179
6180
6181
6182
6185
6189
6190
6194
6195
6196
NAME
MANISH
VICKY RAJANDAS ADWANI
RAJANI SURENDRA ASARI
GAYATHRY R
PRASHANT BANSAL
RAVI KIRAN R
PANKAJ VISHNU HADADE
MUTHUSAMY SURESHKUMAR
VAIBHAV GHANSHYAM GANDHI
MITRESH KIRANBHAI MODI
SHIPRA GUPTA
YASH AGARWAL
VINEET AGARWAL
SHASHIDHARA B S
GAURAV SUKUMAR DESHPANDE
JIGAR JATINKUMAR SHAH
DEVENDU PAUL
SADHANA I
NEHA VIJAY
HARSHIL BHUPESHKUMA MEHTA
TRISHA BEDI
HEMSHREE SINGH
SHALLY BANSAL
UMA M
JAYA PARVATHI V M
RATHIN AMISHBHAI MAJMUDAR
SUMIT RUSTOGI
RAVI KUMAR GUMBER
SHOUKAT GANISO KALOT
AKHILESH KANGSIA
ASHISH JAIN
KUMARAN K C
NITIN MADHUSUDANJI MANTRI
JAGDEEP
ASHISH BHARAT DEOLASI
HINA RAWAT
ARPIT SOMANI
BALJIT SINGH
108
Region
NIRC
WIRC
WIRC
SIRC
NIRC
SIRC
WIRC
SIRC
WIRC
WIRC
NIRC
NIRC
NIRC
SIRC
WIRC
WIRC
SIRC
SIRC
NIRC
WIRC
NIRC
NIRC
NIRC
SIRC
WIRC
WIRC
EIRC
NIRC
WIRC
NIRC
EIRC
SIRC
WIRC
NIRC
WIRC
NIRC
NIRC
SIRC
39
40
41
42
43
44
45
46
47
48
49
50
51
52
53
54
55
56
57
58
59
60
61
62
63
64
65
66
67
68
69
70
71
72
73
74
75
76
77
78
79
80
81
82
83
84
85
86
87
88
89
90
91
92
93
94
95
96
97
98
99
100
101
102
103
104
105
106
107
6199
6201
6204
6205
6206
6212
6215
6218
6220
6223
6225
6227
6229
6230
6231
6232
6235
6236
6237
6241
6245
6246
6253
6255
6258
6261
6262
6266
6267
6268
6270
6274
6279
6280
6281
6289
6292
6293
6297
6302
6307
6313
6314
6315
6316
6317
6318
6320
6321
6322
6324
6332
6333
6335
6337
6341
6343
6345
6346
6351
6352
6353
6354
6355
6356
6363
6372
6374
6378
NIRC
SIRC
WIRC
WIRC
WIRC
SIRC
WIRC
WIRC
WIRC
SIRC
WIRC
NIRC
WIRC
NIRC
NIRC
SIRC
SIRC
WIRC
WIRC
SIRC
NIRC
SIRC
WIRC
WIRC
EIRC
WIRC
WIRC
WIRC
SIRC
NIRC
WIRC
WIRC
NIRC
WIRC
WIRC
WIRC
SIRC
WIRC
WIRC
EIRC
EIRC
SIRC
WIRC
EIRC
WIRC
WIRC
SIRC
WIRC
WIRC
NIRC
WIRC
SIRC
EIRC
NIRC
NIRC
WIRC
NIRC
SIRC
WIRC
NIRC
NIRC
WIRC
SIRC
NIRC
WIRC
EIRC
NIRC
NIRC
SIRC
March 2016
6381
6383
6387
6388
6390
6394
6395
6396
6398
6403
6406
6407
6408
6409
6410
6413
6414
6415
6418
6419
6420
6425
6427
6428
6430
6431
6432
6436
6444
6445
6449
6452
6456
6457
6459
6464
6467
6471
6479
6481
6482
6483
6487
6489
6492
6494
6495
6498
6500
6502
6505
6508
6509
6511
6512
6526
6531
6536
6537
6540
6542
6546
6549
6558
6561
6565
6566
6569
6574
SOLOMON B
SOURAV GARG
RAKESH KAILAS NULL
PAYAL BAFNA
AZMIM NAEEM KHAN
MINAL B MITTAL
MUDRA SITARAM DADHICH
BALKRISHAN AGARWAL
DUSHYANTH KUMAR MODHI
VIJAY RAJ SINGH RATHORE
G SANTHIL KUMAR
AYUSH SARAF
VISHNU G SARDA
DEEPAK AGARWAL
PRACHI ANIL PODDAR
DHIRAJ GUPTA
RAHUL SHIVKUMAR DHARNE
ISHA MODI
PRIYANKA GUPTA
AKASHDEEP SINGHAL
AMIT DAHIYA
G KANNAN KANNAN
PRATYUSH SHARMA
SACHIN ASHOK KUMA SHARMA
SUNIL CHOUDHARY
HIMANSHU PATEL
MS. REKHA MUNDHRA
HARISH ASHOK MATHARIYA
SUSHANT RAMESH CHAUDHARY
SUDHEESH KUMAR K
ANKUR AGRAWAL
MS. EKTA BHARGAVA
PRANAY VIJAYKUMAR JHAWAR
BHARATH SUNDAR RAMAN
MS. SAMEEDHA SADASHIV CHURI
MS. HEMLATA BANSILAL KHANDARI
DHANANJAY PRATAP SINGHVI
AJEET KUMAR
MS. RUMKI MANNA
BHARATH BHUSHAN BOTHRA
ANKIT DAGA
GOPAL KUMAR BANSAL
PRASHANT AGGARWAL
MS. NIKITA AGARWAL
AMIT KUMAR
MS. MEERA SHRIVASTAV
N SRIVATSAN
SHANKAR RAJ M.V.
RANJAN KUMAR PRUSTY
AKSHAY CHANDRASHEKHAR RATHI
PARVEEN BANSAL
MS. KRITIKA KILLA
MS. RAMYA SURESH
RANJIT B SANGAONKAR
MS. MANISHA VASDEV
MS. ESHA AGARWAL
ANKIT JAIN
MS. ASTHA JAIN
MS. ROSHNI RAJIV
YASHWANT BANGANI
VISHAL AGARWAL
ABDUL QADIR MOHAMMADHUSAIN
AMIT TOSHNIWAL
MOHD ARIF
PRADEEP KUMAR SHARDA
SANJEEV AGGARWAL
AMAN RAJESH JAIN
AVINASH PATODIA
Navneet N Kumbhani
March 2016
SIRC
NIRC
WIRC
NIRC
SIRC
WIRC
WIRC
EIRC
SIRC
NIRC
SIRC
EIRC
WIRC
NIRC
WIRC
EIRC
WIRC
NIRC
NIRC
NIRC
NIRC
SIRC
EIRC
WIRC
NIRC
WIRC
NIRC
WIRC
WIRC
SIRC
EIRC
NIRC
WIRC
SIRC
WIRC
WIRC
WIRC
NIRC
EIRC
SIRC
NIRC
EIRC
NIRC
EIRC
EIRC
EIRC
SIRC
SIRC
EIRC
WIRC
NIRC
EIRC
NIRC
WIRC
NIRC
NIRC
NIRC
NIRC
WIRC
SIRC
EIRC
WIRC
NIRC
NIRC
WIRC
NIRC
WIRC
EIRC
WIRC
177
178
179
180
181
182
183
184
185
186
187
188
189
190
191
192
193
194
195
196
197
198
199
200
201
202
203
204
205
206
207
208
209
210
211
6578
6581
6582
6590
6591
6599
6602
6604
6605
6609
6621
6623
6630
6632
6633
6636
6643
6648
6654
6661
6664
6670
6675
6677
6680
6692
6696
6699
6700
6707
6710
6718
6721
6723
6738
Vinay Singhania
Rakesh Singh Rajawat
Jasmeen Marwah
Priti N Atkulwar
Abhay Mukesh Sharma
S V Naresh
Mr. Ajay Rajendra Vaswani
Ms. Srividya Movva
MS MONU KHANDELWAL
MS AKANKSHA GUPTA
MR AMAN JAIN
MR ASHWIN G.R
MR. PARAS VARDHAMAN GANGWAL
VIGNESH A
MS. SAI SUDHA V
AMIT KOCHER
MS. MEHA BHAGIRATH MURARKA
MR. ANKIT BHARGAVA
MR. NAMAN JHALANI
ABHILASH
AKSHAY KABRA
ADAPA JASWANTH
MANISH GUPTA
ARCHANA NULL
SWETA CHUGH
NIMESH VINOD PATEL
PRIYAVARSHINI V
RAHUL JAISWAL
SNEHA RUIYA
SHRADDHA RAO
ANANDPRIYA S
A. RABECCA ROSLIN
ARIF ALI
GARIMA GULATI
MS ANUPRIYA SINGLA
EIRC
WIRC
NIRC
WIRC
WIRC
SIRC
WIRC
SIRC
WIRC
WIRC
WIRC
SIRC
NIRC
SIRC
SIRC
NIRC
WIRC
SIRC
NIRC
NIRC
NIRC
SIRC
EIRC
SIRC
NIRC
WIRC
SIRC
NIRC
WIRC
WIRC
SIRC
SIRC
NIRC
NIRC
NIRC
May please write at email id [email protected] in case the fee is already paid.
Members
(in alphabetical order)
109
108
109
110
111
112
113
114
115
116
117
118
119
120
121
122
123
124
125
126
127
128
129
130
131
132
133
134
135
136
137
138
139
140
141
142
143
144
145
146
147
148
149
150
151
152
153
154
155
156
157
158
159
160
161
162
163
164
165
166
167
168
169
170
171
172
173
174
175
176
Company Secretaries
Benevolent Fund
Membership No.
City
EIRC
1
2
3
NIRC
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
11117
11142
11145
ACS - 14379
ACS - 27097
ACS - 43470
KOLKATA
HOWRAH
PATNA
11112
11113
11114
11116
11120
11121
11124
11127
11128
11129
11132
11135
11140
11141
11143
11144
FCS - 7458
ACS - 42950
FCS - 6541
ACS - 30531
ACS - 36057
FCS - 8307
ACS - 34743
ACS - 41462
ACS - 41229
ACS - 43517
ACS - 22901
ACS - 37093
ACS - 32501
ACS - 12578
ACS - 33299
ACS - 17588
FARIDABAD
SAHARANPUR
GHAZIABAD
ROHTAK
GURGAON
DELHI
KARNAL
VARANASI
DELHI
NEW DELHI
DELHI
NEW DELHI
GHAZIABAD
LUCKNOW
NEW DELHI
DELHI
Membership No.
SIRC
20
11115
21
11118
22
11119
ACS - 43155
ACS - 43388
ACS - 43314
BANGALORE
SECUNDERABAD
HYDERABAD
ACS - 42532
MS. INDIRA N
MR. SUDHEER KUMAR
MR. ROHIT JAIN
MR. JOHN H MOHITH
MS. RAJALAKSHMI M
MS. SRIDEVI S
ACS - 42533
ACS - 43407
ACS - 42347
ACS - 35934
ACS - 27784
ACS - 43614
MAHABOOB
NAGAR DISTT
SECUNDERABAD
GUNTUR
HYDERABAD
MYSORE
CHENNAI
CHENNAI
MR. K DAMODARAN
MS. SHRUTI RAJESH SOHANE
MR. MANISHKUMAR VINUBHAI
DALWADI
MS. DISHITA PANKAJ KUMAR
SHAH
SH. AMIT RAJINDER BHATIA
ACS - 43585
ACS - 37324
ACS - 39916
PUNE
NAGPUR
VADODARA
ACS - 18817
AHMEDABAD
ACS - 16964
AHMEDABAD
23
11122
24
11123
25
11125
26
11126
27
11130
28
11131
29
11133
WIRC
30
11134
31
11136
32
11137
33
11138
34
11139
City
110
March 2016
Corporate Restructuring
(Handling Merger, acquisitions,
demerger issues etc). Specify
the areas handling as drafting of
scheme, appearing before various
regulatory bodies for approval
of scheme, getting the scheme
implemented, legal compliances
with various regulatory bodies etc)
Excise/CUSTOMS (Filling of
returns, Handling assessment,
appearing before the appellate
authority)
10
11
12
Sl. Certificate of
No. Practice No.
13
Depositories
14
(b) Unique Code Number
(i) Individual/Proprietorship concern (ii) Partnership firm
Monopolies/Restrictive Trade
Practices/Competition Law
15
3. Area of Practice
16
17
18
19
20
Societies/Trusts/Co-operative
Societies & NCTs (Non Cooperative Trust Societies)
21
Financial Consultancy
22
23
To
The Secretary to the Council of
The Institute of Company Secretaries of India
ICSI HOUSE, 22, Institutional Area, Lodi Road, New Delhi
-110 003
Sir,
I furnish below my particulars :
(i) Membership
Number FCS/ACS:
(ii) Name in full
(in block letters) Surname Middle Name Name
(iii) Date of Birth:
iv) Professional
Address:
(v) Phone Nos. (Resi.)
(Off.)
(vi) Mobile No
Email id
Date of issue
of CP
Date of surrender /
Cancellation of CP
Please tick
(If Applicable)
Corporate Law
Securities/Commodities
Exchange Market
March 2016
FORM D
APPLICATION FOR THE ISSUE/RENEWAL/RESTORATION
OF CERTIFICATE OF PRACTICE
See Reg. 10, 13 & 14
111
24
25
Sr. No.
Name of
Programme
Organised by
Place
Date
Duration*
No. of
Program
Credit Hours
Secured**
Details of
Certificate
for Program
Credit Hours
***
4. i.
112
Date :
***Encl.
______________________________________________
PAYMENT OF ANNUAL
LICENTIATE SUBSCRIPTION
FOR THE YEAR 2016-2017
The annual Licentiate subscription for the year
2016-2017 will become due for payment w.e.f 1st
April, 2016. The last date for payment of same is
30th June, 2016. The annual Licentiate subscription
payable is Rs.1,000/- per year.
You are requested to remit at the Institutes
Headquarters or Regional/ Chapter offices a sum
of Rs.1000/- (Rupees One thousand only) by way
of Demand Draft payable at New Delhi or cheque
at par drawn in favour of The Institute of Company
Secretaries of India indicating your name and
Licentiate number on the reverse of the Demand
Draft/ Cheque and the details of remittance may
please be intimated at email id [email protected] .
March 2016
SH. J P BAJPAI
SH. M J CHANDRASHEKAR
SH. T RADHAKRISHNAN
SH. R KUMARAVEL
SH. M M K BAKSHI
SH. S S KINKAR
SH. M BHATTACHARYA
SH. A B ANAND
SH. H M GANDHI
SH. S PADMANABHAN
SH. A RAMASWAMY
SH. T K GOPALAKRISHNAN
SH. B D GUPTA
SH. J APPARAO
SH. S K PARIKH
March 2016
REGION
EIRC
NIRC
SIRC
SIRC
SIRC
SIRC
SIRC
EIRC
WIRC
NIRC
WIRC
SIRC
WIRC
EIRC
EIRC
EIRC
WIRC
SIRC
NIRC
NIRC
WIRC
EIRC
NIRC
EIRC
SIRC
WIRC
WIRC
WIRC
WIRC
WIRC
WIRC
WIRC
NIRC
SIRC
SIRC
WIRC
SIRC
NIRC
SIRC
WIRC
SIRC
WIRC
43
44
45
46
47
48
49
50
51
52
53
54
55
56
57
58
59
60
61
62
63
64
65
66
67
68
69
70
71
72
73
74
75
76
77
78
79
80
81
82
83
84
85
86
87
88
89
90
91
92
93
94
95
96
97
98
99
100
101
102
103
104
105
106
107
108
109
110
111
ACS - 3862
ACS - 3892
ACS - 4057
ACS - 4298
ACS - 4425
ACS - 4745
ACS - 4746
ACS - 4875
ACS - 4903
ACS - 4944
ACS - 4961
ACS - 5195
ACS - 5251
ACS - 5291
ACS - 5412
ACS - 5415
ACS - 5434
ACS - 5451
ACS - 5457
ACS - 5600
ACS - 5626
ACS - 5806
ACS - 5869
ACS - 5909
ACS - 5934
ACS - 6012
ACS - 6032
ACS - 6143
ACS - 6165
ACS - 6272
ACS - 6280
ACS - 6385
ACS - 6401
ACS - 6436
ACS - 6712
ACS - 6713
ACS - 6770
ACS - 6806
ACS - 6837
ACS - 6861
ACS - 6919
ACS - 6934
ACS - 7028
ACS - 7129
ACS - 7145
ACS - 7178
ACS - 7444
ACS - 7566
ACS - 7602
ACS - 7745
ACS - 7788
ACS - 7836
ACS - 7848
ACS - 7955
ACS - 8007
ACS - 8129
ACS - 8192
ACS - 8223
ACS - 8396
ACS - 8397
ACS - 8437
ACS - 8461
ACS - 8464
ACS - 8466
ACS - 8509
ACS - 8550
ACS - 8596
ACS - 8748
ACS - 8833
7821
1644
9117
WIRC
NIRC
WIRC
NIRC
SIRC
WIRC
NIRC
WIRC
NIRC
NIRC
SIRC
NIRC
NIRC
SIRC
NIRC
WIRC
WIRC
WIRC
SIRC
NIRC
NIRC
NIRC
SIRC
WIRC
NIRC
NIRC
NIRC
NIRC
NIRC
WIRC
WIRC
WIRC
WIRC
WIRC
WIRC
WIRC
WIRC
SIRC
WIRC
WIRC
WIRC
SIRC
WIRC
WIRC
SIRC
SIRC
WIRC
NIRC
NIRC
NIRC
WIRC
NIRC
SIRC
WIRC
NIRC
WIRC
SIRC
SIRC
SIRC
SIRC
EIRC
SIRC
NIRC
NIRC
SIRC
WIRC
WIRC
SIRC
WIRC
113
112
113
114
115
116
117
118
119
120
121
122
123
124
125
126
127
128
129
130
131
132
133
134
135
136
137
138
139
140
141
142
143
144
145
146
147
148
149
150
151
152
153
154
155
156
157
158
159
160
161
162
163
164
165
166
167
168
169
170
171
172
173
174
175
176
177
178
179
180
ACS - 8839
ACS - 8855
ACS - 8981
ACS - 8988
ACS - 9013
ACS - 9046
ACS - 9093
ACS - 9361
ACS - 9363
ACS - 9366
ACS - 9511
ACS - 9536
ACS - 9619
ACS - 9632
ACS - 9715
ACS - 9718
ACS - 9857
ACS - 9912
ACS - 10011
ACS - 10179
ACS - 10259
ACS - 10293
ACS - 10310
ACS - 10367
ACS - 10426
ACS - 10468
ACS - 10559
ACS - 10719
ACS - 10742
ACS - 10862
ACS - 10978
ACS - 11073
ACS - 11161
ACS - 11164
ACS - 11173
ACS - 11176
ACS - 11219
ACS - 11290
ACS - 11335
ACS - 11362
ACS - 11406
ACS - 11491
ACS - 11551
ACS - 11563
ACS - 11657
ACS - 11732
ACS - 11786
ACS - 11797
ACS - 11968
ACS - 11969
ACS - 12226
ACS - 12285
ACS - 12431
ACS - 12442
ACS - 12473
ACS - 12487
ACS - 12490
ACS - 12499
ACS - 12519
ACS - 12525
ACS - 12601
ACS - 12621
ACS - 12694
ACS - 12842
ACS - 12848
ACS - 12906
ACS - 12926
ACS - 12947
ACS - 12966
114
13844
4356
8293
13785
NIRC
NIRC
SIRC
SIRC
SIRC
NIRC
NIRC
SIRC
WIRC
SIRC
EIRC
WIRC
WIRC
NIRC
WIRC
WIRC
SIRC
SIRC
SIRC
SIRC
NIRC
NIRC
SIRC
SIRC
WIRC
NIRC
NIRC
EIRC
NIRC
NIRC
NIRC
WIRC
SIRC
NIRC
NIRC
NIRC
NIRC
NIRC
WIRC
WIRC
SIRC
EIRC
WIRC
NIRC
NIRC
SIRC
SIRC
SIRC
WIRC
NIRC
WIRC
NIRC
SIRC
SIRC
WIRC
WIRC
WIRC
WIRC
NIRC
NIRC
SIRC
WIRC
SIRC
SIRC
SIRC
NIRC
EIRC
WIRC
NIRC
181
182
183
184
185
186
187
188
189
190
191
192
193
194
195
196
197
198
199
200
201
202
203
204
205
206
207
208
209
210
211
212
213
214
215
216
217
218
219
220
221
222
223
224
225
226
227
228
229
230
231
232
233
234
235
236
237
238
239
240
241
242
243
244
245
246
247
248
249
ACS - 13119
ACS - 13140
ACS - 13310
ACS - 13379
ACS - 13460
ACS - 13515
ACS - 13523
ACS - 13595
ACS - 13596
ACS - 13612
ACS - 13625
ACS - 13638
ACS - 13669
ACS - 13760
ACS - 13814
ACS - 13821
ACS - 13853
ACS - 13921
ACS - 13977
ACS - 14006
ACS - 14066
ACS - 14105
ACS - 14159
ACS - 14186
ACS - 14214
ACS - 14257
ACS - 14305
ACS - 14317
ACS - 14331
ACS - 14396
ACS - 14432
ACS - 14447
ACS - 14460
ACS - 14524
ACS - 14576
ACS - 14579
ACS - 14589
ACS - 14688
ACS - 14689
ACS - 14708
ACS - 14742
ACS - 14756
ACS - 14771
ACS - 14787
ACS - 14816
ACS - 14821
ACS - 14849
ACS - 14867
ACS - 14878
ACS - 15028
ACS - 15037
ACS - 15131
ACS - 15139
ACS - 15150
ACS - 15191
ACS - 15212
ACS - 15215
ACS - 15220
ACS - 15291
ACS - 15314
ACS - 15396
ACS - 15440
ACS - 15606
ACS - 15617
ACS - 15621
ACS - 15675
ACS - 15710
ACS - 15773
ACS - 15792
4415
5675
SIRC
NIRC
WIRC
NIRC
SIRC
NIRC
WIRC
EIRC
EIRC
NIRC
NIRC
WIRC
NIRC
NIRC
NIRC
NIRC
EIRC
NIRC
NIRC
WIRC
NIRC
NIRC
NIRC
NIRC
NIRC
SIRC
NIRC
WIRC
SIRC
NIRC
SIRC
WIRC
WIRC
NIRC
SIRC
SIRC
WIRC
NIRC
WIRC
WIRC
WIRC
SIRC
NIRC
NIRC
NIRC
NIRC
NIRC
EIRC
NIRC
NIRC
EIRC
SIRC
WIRC
NIRC
EIRC
EIRC
WIRC
NIRC
SIRC
WIRC
NIRC
NIRC
NIRC
WIRC
WIRC
NIRC
NIRC
SIRC
SIRC
March 2016
ACS - 15822
ACS - 15833
ACS - 16016
ACS - 16041
ACS - 16068
ACS - 16124
ACS - 16136
ACS - 16147
ACS - 16207
ACS - 16223
ACS - 16226
ACS - 16231
ACS - 16256
ACS - 16306
ACS - 16377
ACS - 16392
ACS - 16450
ACS - 16538
ACS - 16569
ACS - 16658
ACS - 16676
ACS - 16686
ACS - 16697
ACS - 16700
ACS - 16723
ACS - 16725
ACS - 16756
ACS - 16760
ACS - 16773
ACS - 16803
ACS - 16851
ACS - 16870
ACS - 16926
ACS - 16954
ACS - 17028
ACS - 17038
ACS - 17245
ACS - 17279
ACS - 17333
ACS - 17353
ACS - 17355
ACS - 17359
ACS - 17443
ACS - 17543
ACS - 17554
ACS - 17573
ACS - 17592
ACS - 17606
ACS - 17625
ACS - 17706
ACS - 17715
ACS - 17725
ACS - 17783
ACS - 17880
ACS - 17911
ACS - 17914
ACS - 17939
ACS - 17945
ACS - 18006
ACS - 18245
ACS - 18267
ACS - 18341
ACS - 18464
ACS - 18483
ACS - 18526
ACS - 18604
ACS - 18660
ACS - 18661
ACS - 18801
9234
13422
6106
8025
March 2016
SIRC
NIRC
NIRC
NIRC
NIRC
NIRC
SIRC
NIRC
EIRC
EIRC
NIRC
EIRC
NIRC
NIRC
NIRC
WIRC
WIRC
WIRC
NIRC
WIRC
NIRC
WIRC
NIRC
WIRC
SIRC
SIRC
NIRC
NIRC
EIRC
WIRC
NIRC
NIRC
NIRC
WIRC
WIRC
SIRC
WIRC
SIRC
NIRC
WIRC
NIRC
NIRC
NIRC
WIRC
WIRC
NIRC
SIRC
EIRC
NIRC
WIRC
WIRC
WIRC
SIRC
NIRC
NIRC
EIRC
WIRC
WIRC
NIRC
EIRC
NIRC
NIRC
NIRC
NIRC
SIRC
NIRC
NIRC
EIRC
NIRC
319
320
321
322
323
324
325
326
327
328
329
330
331
332
333
334
335
336
337
338
339
340
341
342
343
344
345
346
347
348
349
350
351
352
353
354
355
356
357
358
359
360
361
362
363
364
365
366
367
368
369
370
371
372
373
374
375
376
377
378
379
380
381
382
383
384
385
386
387
ACS - 18816
ACS - 18826
ACS - 18920
ACS - 18940
ACS - 19035
ACS - 19076
ACS - 19102
ACS - 19111
ACS - 19114
ACS - 19120
ACS - 19143
ACS - 19149
ACS - 19225
ACS - 19264
ACS - 19278
ACS - 19301
ACS - 19320
ACS - 19373
ACS - 19376
ACS - 19396
ACS - 19423
ACS - 19427
ACS - 19438
ACS - 19471
ACS - 19587
ACS - 19596
ACS - 19607
ACS - 19622
ACS - 19675
ACS - 19708
ACS - 19727
ACS - 19729
ACS - 19775
ACS - 19830
ACS - 19836
ACS - 19945
ACS - 19971
ACS - 19977
ACS - 20068
ACS - 20097
ACS - 20119
ACS - 20152
ACS - 20250
ACS - 20277
ACS - 20371
ACS - 20377
ACS - 20503
ACS - 20567
ACS - 20661
ACS - 20672
ACS - 20689
ACS - 20884
ACS - 20891
ACS - 20922
ACS - 20981
ACS - 21128
ACS - 21162
ACS - 21173
ACS - 21195
ACS - 21266
ACS - 21294
ACS - 21333
ACS - 21394
ACS - 21395
ACS - 21426
ACS - 21455
ACS - 21544
ACS - 21582
ACS - 21589
7533
11205
WIRC
SIRC
NIRC
NIRC
WIRC
WIRC
NIRC
WIRC
WIRC
NIRC
NIRC
NIRC
WIRC
NIRC
NIRC
WIRC
NIRC
WIRC
NIRC
NIRC
WIRC
SIRC
WIRC
NIRC
NIRC
NIRC
NIRC
WIRC
NIRC
NIRC
NIRC
NIRC
SIRC
WIRC
NIRC
NIRC
EIRC
SIRC
NIRC
NIRC
NIRC
NIRC
SIRC
EIRC
SIRC
EIRC
NIRC
WIRC
NIRC
NIRC
NIRC
SIRC
NIRC
NIRC
NIRC
NIRC
WIRC
SIRC
NIRC
NIRC
EIRC
WIRC
EIRC
NIRC
NIRC
SIRC
WIRC
WIRC
EIRC
115
250
251
252
253
254
255
256
257
258
259
260
261
262
263
264
265
266
267
268
269
270
271
272
273
274
275
276
277
278
279
280
281
282
283
284
285
286
287
288
289
290
291
292
293
294
295
296
297
298
299
300
301
302
303
304
305
306
307
308
309
310
311
312
313
314
315
316
317
318
388
389
390
391
392
393
394
395
396
397
398
399
400
401
402
403
404
405
406
407
408
409
410
411
412
413
414
415
416
417
418
419
420
421
422
423
424
425
426
427
428
429
430
431
432
433
434
435
436
437
438
439
440
441
442
443
444
445
446
447
448
449
450
451
452
453
454
455
456
ACS - 21616
ACS - 21702
ACS - 21762
ACS - 21839
ACS - 21845
ACS - 21874
ACS - 21989
ACS - 22021
ACS - 22039
ACS - 22060
ACS - 22083
ACS - 22088
ACS - 22090
ACS - 22197
ACS - 22214
ACS - 22238
ACS - 22264
ACS - 22297
ACS - 22334
ACS - 22370
ACS - 22428
ACS - 22459
ACS - 22516
ACS - 22590
ACS - 22600
ACS - 22719
ACS - 22801
ACS - 22860
ACS - 22929
ACS - 22930
ACS - 23007
ACS - 23024
ACS - 23080
ACS - 23154
ACS - 23195
ACS - 23196
ACS - 23261
ACS - 23284
ACS - 23288
ACS - 23302
ACS - 23328
ACS - 23340
ACS - 23356
ACS - 23385
ACS - 23390
ACS - 23463
ACS - 23484
ACS - 23646
ACS - 23789
ACS - 23864
ACS - 23910
ACS - 23934
ACS - 23971
ACS - 24089
ACS - 24105
ACS - 24118
ACS - 24152
ACS - 24174
ACS - 24192
ACS - 24242
ACS - 24290
ACS - 24438
ACS - 24480
ACS - 24548
ACS - 24550
ACS - 24553
ACS - 24599
ACS - 24648
ACS - 24769
116
8063
8738
8965
9126
NIRC
NIRC
NIRC
NIRC
WIRC
WIRC
NIRC
EIRC
NIRC
NIRC
NIRC
NIRC
NIRC
NIRC
SIRC
NIRC
SIRC
SIRC
SIRC
NIRC
NIRC
EIRC
WIRC
NIRC
WIRC
SIRC
WIRC
SIRC
NIRC
NIRC
SIRC
NIRC
WIRC
NIRC
NIRC
NIRC
SIRC
WIRC
WIRC
WIRC
EIRC
WIRC
WIRC
NIRC
WIRC
NIRC
WIRC
WIRC
NIRC
SIRC
NIRC
WIRC
WIRC
EIRC
NIRC
NIRC
NIRC
NIRC
NIRC
WIRC
NIRC
WIRC
WIRC
NIRC
EIRC
WIRC
EIRC
NIRC
EIRC
457
458
459
460
461
462
463
464
465
466
467
468
469
470
471
472
473
474
475
476
477
478
479
480
481
482
483
484
485
486
487
488
489
490
491
492
493
494
495
496
497
498
499
500
501
502
503
504
505
506
507
508
509
510
511
512
513
514
515
516
517
518
519
520
521
522
523
524
525
ACS - 24809
ACS - 24832
ACS - 24836
ACS - 24842
ACS - 24865
ACS - 24949
ACS - 25100
ACS - 25122
ACS - 25150
ACS - 25174
ACS - 25200
ACS - 25260
ACS - 25261
ACS - 25345
ACS - 25371
ACS - 25380
ACS - 25410
ACS - 25422
ACS - 25453
ACS - 25469
ACS - 25538
ACS - 25550
ACS - 25580
ACS - 25588
ACS - 25605
ACS - 25630
ACS - 25651
ACS - 25678
ACS - 25774
ACS - 25845
ACS - 25941
ACS - 25948
ACS - 25986
ACS - 26065
ACS - 26069
ACS - 26099
ACS - 26100
ACS - 26108
ACS - 26130
ACS - 26202
ACS - 26244
ACS - 26253
ACS - 26282
ACS - 26346
ACS - 26379
ACS - 26438
ACS - 26467
ACS - 26481
ACS - 26493
ACS - 26542
ACS - 26574
ACS - 26678
ACS - 26697
ACS - 26730
ACS - 26871
ACS - 26874
ACS - 26909
ACS - 26940
ACS - 26959
ACS - 26963
ACS - 26965
ACS - 27046
ACS - 27075
ACS - 27086
ACS - 27109
ACS - 27121
ACS - 27210
ACS - 27255
ACS - 27297
9903
9275
9177
10874
9367
9447
10243
9578
9612
9680
9726
SIRC
NIRC
WIRC
NIRC
NIRC
EIRC
NIRC
NIRC
NIRC
EIRC
WIRC
NIRC
NIRC
SIRC
EIRC
EIRC
SIRC
WIRC
NIRC
SIRC
SIRC
WIRC
WIRC
WIRC
NIRC
WIRC
EIRC
WIRC
SIRC
NIRC
SIRC
SIRC
WIRC
NIRC
NIRC
NIRC
SIRC
NIRC
SIRC
EIRC
NIRC
NIRC
NIRC
WIRC
SIRC
WIRC
WIRC
WIRC
WIRC
WIRC
NIRC
NIRC
NIRC
EIRC
NIRC
WIRC
WIRC
WIRC
SIRC
EIRC
NIRC
SIRC
WIRC
NIRC
NIRC
NIRC
SIRC
WIRC
NIRC
March 2016
ACS - 27408
ACS - 27440
ACS - 27445
ACS - 27455
ACS - 27536
ACS - 27567
ACS - 27599
ACS - 27629
ACS - 27651
ACS - 27687
ACS - 27798
ACS - 27815
ACS - 27937
ACS - 27949
ACS - 27986
ACS - 27989
ACS - 28075
ACS - 28114
ACS - 28130
ACS - 28178
ACS - 28307
ACS - 28392
ACS - 28584
ACS - 28595
ACS - 28696
ACS - 28735
ACS - 28838
ACS - 28888
ACS - 28896
ACS - 28974
ACS - 29045
ACS - 29069
ACS - 29123
ACS - 29146
ACS - 29210
ACS - 29257
ACS - 29344
ACS - 29356
ACS - 29431
ACS - 29483
ACS - 29487
ACS - 29546
ACS - 29681
ACS - 29798
ACS - 29831
ACS - 29836
ACS - 29838
ACS - 29840
ACS - 29880
ACS - 29944
ACS - 29952
ACS - 30013
ACS - 30018
ACS - 30053
ACS - 30064
ACS - 30083
ACS - 30100
ACS - 30124
ACS - 30244
ACS - 30315
ACS - 30326
ACS - 30352
ACS - 30371
ACS - 30439
ACS - 30451
ACS - 30461
ACS - 30624
ACS - 30704
ACS - 30706
10048
11217
11456
11997
10927
12397
11208
11011
11604
March 2016
NIRC
NIRC
SIRC
WIRC
NIRC
NIRC
NIRC
NIRC
NIRC
EIRC
SIRC
SIRC
SIRC
NIRC
NIRC
SIRC
NIRC
NIRC
EIRC
WIRC
WIRC
WIRC
NIRC
NIRC
NIRC
WIRC
NIRC
NIRC
NIRC
EIRC
EIRC
WIRC
NIRC
WIRC
WIRC
WIRC
EIRC
WIRC
NIRC
NIRC
NIRC
NIRC
NIRC
WIRC
WIRC
NIRC
EIRC
EIRC
NIRC
WIRC
NIRC
WIRC
NIRC
NIRC
NIRC
WIRC
WIRC
NIRC
EIRC
NIRC
WIRC
SIRC
NIRC
NIRC
SIRC
WIRC
EIRC
WIRC
WIRC
595
596
597
598
599
600
601
602
603
604
605
606
607
608
609
610
611
612
613
614
615
616
617
618
619
620
621
622
623
624
625
626
ACS - 30751
ACS - 30768
ACS - 30769
ACS - 30820
ACS - 30880
ACS - 30970
ACS - 31069
ACS - 31168
ACS - 31169
ACS - 31309
ACS - 31454
ACS - 31455
ACS - 31465
ACS - 31485
ACS - 31578
ACS - 31780
ACS - 31836
ACS - 31883
ACS - 31885
ACS - 31895
ACS - 32013
ACS - 32016
ACS - 32022
ACS - 32066
ACS - 32103
ACS - 32147
ACS - 32238
ACS - 32269
ACS - 32303
ACS - 32313
ACS - 32350
ACS - 32428
ACS - 32482
ACS - 32632
ACS - 32673
ACS - 32929
ACS - 32948
ACS - 33002
ACS - 33057
ACS - 33122
ACS - 33262
ACS - 33273
ACS - 33326
ACS - 33376
ACS - 33478
ACS - 33526
ACS - 33715
ACS - 33719
ACS - 33728
ACS - 33730
ACS - 33760
ACS - 33788
ACS - 33868
ACS - 33888
ACS - 33929
ACS - 34024
ACS - 34043
ACS - 34110
ACS - 34173
ACS - 34224
ACS - 34232
ACS - 34236
ACS - 34240
ACS - 34379
ACS - 34504
ACS - 34575
ACS - 34621
PATHAK
MS. SNEHLATA
13137 MS. SHAILJA BHANDULLA
MS. SHALINI
MS. G BOWTHIRA
NIRC
SIRC
SIRC
NIRC
NIRC
SIRC
SIRC
EIRC
NIRC
NIRC
NIRC
NIRC
EIRC
NIRC
EIRC
NIRC
NIRC
EIRC
WIRC
EIRC
NIRC
NIRC
NIRC
WIRC
WIRC
NIRC
WIRC
NIRC
NIRC
NIRC
WIRC
NIRC
WIRC
NIRC
NIRC
WIRC
NIRC
SIRC
WIRC
NIRC
SIRC
NIRC
NIRC
WIRC
NIRC
NIRC
EIRC
SIRC
NIRC
EIRC
EIRC
NIRC
NIRC
NIRC
WIRC
EIRC
NIRC
WIRC
NIRC
NIRC
NIRC
NIRC
NIRC
NIRC
NIRC
NIRC
SIRC
NIRC
117
526
527
528
529
530
531
532
533
534
535
536
537
538
539
540
541
542
543
544
545
546
547
548
549
550
551
552
553
554
555
556
557
558
559
560
561
562
563
564
565
566
567
568
569
570
571
572
573
574
575
576
577
578
579
580
581
582
583
584
585
586
587
588
589
590
591
592
593
594
663
664
665
666
667
668
669
670
671
672
673
674
675
676
677
678
679
680
681
682
683
684
685
686
687
688
689
690
691
692
ACS - 34622
ACS - 34626
ACS - 34655
ACS - 34671
ACS - 34675
ACS - 34767
ACS - 34899
ACS - 34904
ACS - 34966
ACS - 34980
ACS - 35030
ACS - 35096
ACS - 35221
ACS - 35310
ACS - 35320
ACS - 35357
ACS - 35380
ACS - 35417
ACS - 35449
ACS - 35452
ACS - 35478
ACS - 35517
ACS - 35594
ACS - 35607
ACS - 35616
ACS - 35640
ACS - 35657
ACS - 35699
ACS - 35760
ACS - 35775
ACS - 35821
ACS - 35955
ACS - 36063
ACS - 36112
ACS - 36160
ACS - 36296
ACS - 36335
ACS - 36381
ACS - 36513
ACS - 36752
ACS - 36916
ACS - 36921
ACS - 36937
ACS - 37004
ACS - 37286
ACS - 37302
ACS - 37304
ACS - 37659
ACS - 37696
ACS - 37929
ACS - 38176
ACS - 38327
ACS - 38509
ACS - 38610
ACS - 38653
ACS - 38669
ACS - 38777
ACS - 38790
ACS - 38860
ACS - 39048
FCS - 17
FCS - 36
FCS - 55
FCS - 66
FCS - 85
FCS - 126
FCS - 258
118
12827
12922
13133
PARTHASARATHY
MS. KANIKA
MS. NANDHINI B
SH. P K SHARMA
NIRC
WIRC
EIRC
EIRC
NIRC
NIRC
NIRC
WIRC
EIRC
WIRC
NIRC
NIRC
WIRC
WIRC
NIRC
NIRC
NIRC
NIRC
NIRC
SIRC
SIRC
WIRC
WIRC
WIRC
NIRC
WIRC
NIRC
NIRC
NIRC
NIRC
SIRC
EIRC
NIRC
NIRC
EIRC
WIRC
NIRC
NIRC
NIRC
WIRC
NIRC
NIRC
NIRC
WIRC
WIRC
NIRC
NIRC
NIRC
NIRC
NIRC
WIRC
WIRC
NIRC
NIRC
WIRC
NIRC
EIRC
SIRC
SIRC
NIRC
WIRC
WIRC
SIRC
SIRC
EIRC
WIRC
SIRC
WIRC
731
732
733
734
735
736
737
738
739
740
741
742
743
744
745
746
747
748
749
750
751
752
753
754
755
756
757
758
759
760
761
762
763
764
765
766
767
768
769
770
771
772
773
774
775
776
777
778
779
780
781
782
783
784
785
786
787
788
789
790
791
792
793
794
795
796
797
798
799
FCS - 278
FCS - 377
FCS - 387
FCS - 442
FCS - 468
FCS - 536
FCS - 539
FCS - 541
FCS - 558
FCS - 690
FCS - 700
FCS - 701
FCS - 746
FCS - 776
FCS - 875
FCS - 1040
FCS - 1050
FCS - 1104
FCS - 1148
FCS - 1157
FCS - 1197
FCS - 1225
FCS - 1253
FCS - 1280
FCS - 1366
FCS - 1376
FCS - 1394
FCS - 1397
FCS - 1442
FCS - 1528
FCS - 1541
FCS - 1550
FCS - 1572
FCS - 1617
FCS - 1696
FCS - 1756
FCS - 1759
FCS - 1861
FCS - 1921
FCS - 1935
FCS - 1944
FCS - 2113
FCS - 2126
FCS - 2140
FCS - 2168
FCS - 2561
FCS - 2585
FCS - 2606
FCS - 2658
FCS - 2818
FCS - 2821
FCS - 2875
FCS - 2967
FCS - 2998
FCS - 3015
FCS - 3086
FCS - 3161
FCS - 3196
FCS - 3217
FCS - 3289
FCS - 3331
FCS - 3506
FCS - 3794
FCS - 3910
FCS - 3936
FCS - 3958
FCS - 3972
FCS - 4004
FCS - 4040
7369
721
262
4937
1924
12086
101
12286
2821
2360
NIRC
SIRC
SIRC
SIRC
SIRC
WIRC
NIRC
WIRC
WIRC
WIRC
WIRC
WIRC
NIRC
NIRC
WIRC
EIRC
SIRC
WIRC
WIRC
EIRC
SIRC
EIRC
NIRC
NIRC
EIRC
EIRC
NIRC
SIRC
NIRC
WIRC
WIRC
SIRC
WIRC
NIRC
NIRC
SIRC
EIRC
EIRC
EIRC
SIRC
EIRC
WIRC
SIRC
NIRC
SIRC
WIRC
NIRC
NIRC
EIRC
SIRC
WIRC
NIRC
NIRC
NIRC
SIRC
NIRC
WIRC
WIRC
WIRC
NIRC
EIRC
NIRC
EIRC
NIRC
EIRC
WIRC
WIRC
NIRC
NIRC
March 2016
FCS - 4295
FCS - 4303
FCS - 4341
FCS - 4492
FCS - 4529
FCS - 4578
FCS - 4613
FCS - 4669
FCS - 4777
FCS - 4895
FCS - 4908
FCS - 4978
FCS - 5154
FCS - 5249
FCS - 5280
FCS - 5409
FCS - 5473
FCS - 5503
FCS - 5542
FCS - 5567
FCS - 5903
FCS - 5983
FCS - 6022
FCS - 6090
FCS - 6105
FCS - 6142
FCS - 6303
FCS - 6354
FCS - 6356
FCS - 6369
FCS - 6386
FCS - 6986
FCS - 7005
FCS - 7039
FCS - 7214
FCS - 7318
FCS - 7570
FCS - 7649
FCS - 7661
FCS - 7779
FCS - 7829
2545
3048
4199
12373
6075
8723
6589
7390
8311
13558
NIRC
NIRC
NIRC
NIRC
WIRC
NIRC
SIRC
WIRC
NIRC
NIRC
NIRC
NIRC
WIRC
NIRC
NIRC
NIRC
WIRC
WIRC
NIRC
NIRC
NIRC
SIRC
NIRC
NIRC
NIRC
WIRC
EIRC
NIRC
WIRC
SIRC
NIRC
WIRC
NIRC
WIRC
NIRC
WIRC
NIRC
SIRC
NIRC
EIRC
NIRC
CP.NO.
3336
1997
11255
13344
MEMBER'S NAME
SH. K M VENKATESWARAN
SH. RAKESH SOOD
SH. MADHAV KUMAR SHASTRI
SH. VIMAL KUMAR SHARMA
March 2016
REGION
SIRC
NIRC
EIRC
SIRC
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46
47
48
49
50
51
52
53
54
55
56
57
58
59
60
61
62
63
64
65
66
67
68
69
70
71
ACS - 3683
ACS - 4799
ACS - 6579
ACS - 7191
ACS - 7338
ACS - 7987
ACS - 8046
ACS - 8050
ACS - 8411
ACS - 8511
ACS - 9123
ACS - 11452
ACS - 11497
ACS - 11502
ACS - 12014
ACS - 12605
ACS - 13260
ACS - 13296
ACS - 13861
ACS - 14631
ACS - 14768
ACS - 15454
ACS - 15575
ACS - 16367
ACS - 17062
ACS - 17344
ACS - 17576
ACS - 18482
ACS - 18485
ACS - 18657
ACS - 20166
ACS - 20367
ACS - 20546
ACS - 20607
ACS - 20609
ACS - 21101
ACS - 21385
ACS - 21700
ACS - 21725
ACS - 22180
ACS - 23814
ACS - 24692
ACS - 24928
ACS - 25219
ACS - 25384
ACS - 25479
ACS - 25492
ACS - 26093
ACS - 26484
ACS - 26923
ACS - 26980
ACS - 27244
ACS - 27284
ACS - 27308
ACS - 27926
ACS - 28365
ACS - 28518
ACS - 28747
ACS - 28919
ACS - 29161
ACS - 29226
ACS - 29390
ACS - 30102
ACS - 30143
ACS - 30269
ACS - 30735
ACS - 30993
8756
5221
7688
9584
10591
8015
7314
7847
13345
3767
10238
9028
13366
9336
14060
9606
7850
14386
10172
4301
5528
4600
13591
7106
5362
12386
13689
9099
8619
8577
7366
7614
13831
7547
14252
13225
9418
7895
11808
12794
10164
13515
12672
11871
9259
9546
10203
11246
14493
9809
10781
11134
10615
14170
11925
10200
10248
13346
12208
10522
10676
10817
10997
10883
12113
12742
12408
SH. P VASANTHARAJAN
SH. V KALIDAS
SH. AVINASH B MAINKAR
SH. A ASWATHA RAJU
MS. RASHNA G.NAKRA
MS. RUCHI SETHI
SH. DALIP RAJ APPAN
SH. SWAPAN KUMAR DE
SH. PANKAJ MISRA
MS. DARSHITA TEJPAL SHAH
MS. SINGH SUDHA
MS. DIPTI PRABODHBHAI PARIKH
SH. K C SUBRAMANIAN
SH. K.P. RAJENDRAN ACHUTAN
SH. RAMESH KUMAR
MS. J BANUMATHI
MS. RANI SRIKANTH
SH. PADAM CHAND GUPTA
SH. A.R. VISHWANATHAN
SH. KSHITIJ KUMAR JONEJA
MS. PARUL MAHESHWARI
MS. NUPUR RAJIV KRISHNAMA
SH. ABHITAP KUMAR JAIN
MS. NIDHI SHARMA
SH. SAMEER ASHWIN MANIAR
MRS. SHALU VARSHNEY
MS. SHALINI MURTI
SH. KUNJ BIHARI DAVE
MS. SHUBHANGI A BAIWAR
SH. SATISH KUMAR PANDEY
MS SNEHA BHIMRAJ JAIN
MS. MEENAKSHI JAIN
MS. SANGEETA NASSA
MS. BHARTI AGARWAL
MS. SHASHI SHARMA
MS. VIDHI JAIN
SH NEERAJ SINGHAL
SH. PAWAN KUMAR AGARWAL
MRS. MINAKSHI LAKHOTIA
MS. JAYANTI SHARMA
MRS. ADITI VAIBHAV DOSHI
MRS. APARAJITA JOHARI
MS. PRATIBHA GOYAL
MS. FALAHTAJ TANZEEM
MRS. MRIDULA KHEMKA
MRS. MINAKSHI VERMA
MS. MISHI BHATNAGAR
SH. VINAY VISHNU KADAM
MS. MANSI GARG
MS. RAJSHRI PRASAD
MS. MINAXI PANDEY
MS. VALLARI RASHMIKANT PATEL
MS. SHELLY BANSAL
MS. DAPINDER KAUR
MRS. HEMANSHI VADHERA
MS. POOJA SHAILESHKUMAR SHAH
MR. ROHAN VISHNU NIMBALKAR
MS. SAKINA DICKENWALA
MRS. SHRUTI RAHUL TEKRIWAL
MRS. NEHA TULSYAN
MS. NAZIA REHMAN
MS. JAYA GUPTA
MR. AJEET SINGH VERMA
MS. MONIKA CHECHANI
MS. MEGHA AGARWAL
MR. RAMIT CHITKARA
MS. SONIA GROVER
WIRC
WIRC
WIRC
SIRC
WIRC
WIRC
NIRC
EIRC
NIRC
WIRC
EIRC
WIRC
SIRC
SIRC
NIRC
WIRC
SIRC
NIRC
SIRC
NIRC
WIRC
SIRC
WIRC
NIRC
WIRC
NIRC
WIRC
NIRC
WIRC
WIRC
WIRC
NIRC
NIRC
NIRC
WIRC
WIRC
NIRC
WIRC
WIRC
NIRC
WIRC
NIRC
NIRC
EIRC
WIRC
NIRC
WIRC
WIRC
NIRC
WIRC
WIRC
WIRC
NIRC
NIRC
NIRC
WIRC
WIRC
WIRC
WIRC
WIRC
NIRC
NIRC
NIRC
WIRC
EIRC
NIRC
NIRC
119
800
801
802
803
804
805
806
807
808
809
810
811
812
813
814
815
816
817
818
819
820
821
822
823
824
825
826
827
828
829
830
831
832
833
834
835
836
837
838
839
840
72
73
74
75
76
77
78
79
80
81
82
83
84
85
86
87
88
89
90
91
92
93
94
95
96
97
98
99
100
101
102
103
104
ACS - 31070
ACS - 31161
ACS - 31657
ACS - 31754
ACS - 32536
ACS - 33490
ACS - 33521
ACS - 33523
ACS - 33553
ACS - 33580
ACS - 33612
ACS - 33870
ACS - 33999
ACS - 34323
ACS - 34816
ACS - 35165
ACS - 35686
ACS - 35806
ACS - 35877
ACS - 35886
ACS - 36219
ACS - 36284
ACS - 36286
ACS - 36763
ACS - 37360
ACS - 38696
FCS - 213
FCS - 471
FCS - 756
FCS - 1577
FCS - 2433
FCS - 4069
FCS - 4242
11428
11582
12254
12248
12961
12390
13767
12535
14092
12548
12576
13955
12958
12746
12989
13435
13165
13272
13471
13357
13931
14091
13751
13886
14325
14396
4275
11794
3796
10387
11122
8798
2451
MR. RAVI
MS. JUHI SARNA
MS. DEEPA SINGAL
MS. SURABHI JAIN
MS. BASULI DASGUPTA
MR. NAGENDRA KUMAR SAGI
MS. PAYAL MANGLA
MS. SANTOSH SURANA
MR. VASU TAKKAR
MS. VANDNA JAIN
MS. PRIYANKA BHANDARI
MS. HARSHITA MAHESHWARI
MR. IMRAN HUSSAIN W
MR. SHYAM JAGDISH SONI
MR. ASHISH JAIN
MS. KHOSBOO AGARWAL
MRS. PRIYANKA MEHRA
MR. ARUN SINGH
MS. NIKITA PRATIK SHAH
MRS. SHRUTI AGARWALA
MS. PREETI KHEPAR
MS. DIPIKA SAHU
MS. KAVITA NAHATA
MS. PREETI SARAWAGI
MR. NANDAN DINKAR SHANBHAG
MS. POOJA SHARMA
SH. GOPAL DASS AGRAWAL
SH. K VENKATAESWARA RAO
SH. VIRENDRA KUMAR JAIN
SH. SHASHI BHUSHAN GARG
SH. V RAMANUJAM
SH. SURENDRA UTTAMLAL TAMBOLI
SH. BIPIN JIVANBHAI PATEL
NIRC
NIRC
NIRC
WIRC
EIRC
SIRC
NIRC
EIRC
NIRC
NIRC
WIRC
NIRC
SIRC
WIRC
NIRC
EIRC
NIRC
NIRC
WIRC
EIRC
NIRC
EIRC
EIRC
SIRC
SIRC
NIRC
NIRC
SIRC
EIRC
NIRC
SIRC
WIRC
WIRC
105
106
107
108
109
110
111
112
113
114
FCS - 4739
FCS - 4940
FCS - 5066
FCS - 5097
FCS - 5801
FCS - 6464
FCS - 6737
FCS - 7168
FCS - 7363
FCS - 7746
9556
6049
13647
3706
13534
6447
10826
11491
7963
6275
SH. K H SAVALIYA
SH. SATEESH RAMANAND CHIRPUTKAR
MS. BINACA VERMA
SH. RAKESH WADHWA
SH. P RAMANATHAN
SH. AKHILESH KUMAR SHRIVASTAVA
MR. NISHANT NAYAN
SH. V L GANESH
SH. SAMIR KUMAR KUNDU
SH. RAJESH KUMAR SINGHANIA
WIRC
WIRC
WIRC
NIRC
WIRC
EIRC
NIRC
WIRC
EIRC
EIRC
Attention Members -
120
March 2016
. Many stories
The Company Secretaries Benevolent Fund (CSBF) is a
Society registered with the Societies Registration Act, 1860 and
recognized under Section 12A of the Income Tax Act, 1961.
The CSBF was established in the year 1976 by the Institute of
Company Secretaries of India (ICSI) (a Statutory Body under an
Act of Parliament), for creating a security umbrella for the Company
Secretaries and/or their dependent family members in their hour of
need. The donation to the CSBF qualifies for the deduction under
Section 80G of the Income Tax Act, 1961.
The members of ICSI are eligible to become members of the
CSBF on payment of one time subscription fee (at present
Rs.7500). A unique number known as Life Membership number is
allotted on admission to CSBF. Presently, the financial assistance
provided by the CSBF is as under:
Sl. No. Amount
1
Rs. 5 Lakh
Reason
In case of unfortunate demise of a
Company Secretary upto the age of
60 years
Upto Rs. 2 Lakh In case of unfortunate demise of a
Company Secretary above the age
of 60 years
Upto Rs. 40,000 One-time per child (upto two children)
for education of minor children of a
deceased Company Secretary in
deserving cases
Upto Rs. 60,000 For medical expenses in deserving
cases
121
12. A life member of the CSBF was in her late 30s when she died
leaving behind her spouse and minor son. In this case, the
spouse was earning, yet the CSBF considered the pain and
apathy of the bereaved family. CSBF gave Rs.2.5 lakh each
to the spouse and the minor son. Additionally, Rs.40,000 was
given to the minor son for the education. Upon sudden demise
of someone, the family members cannot get the departed soul
back but the help from CSBF might have given some solace
to the family members who are in lurch of mental agony.
This financial assistance in any way cannot fulfill the vacuum
caused due to sudden demise but certainly acts as a sense
of feeling of togetherness by the ICSI.
Best Regards,
(CS Mamta Binani)
President-ICSI
122
March 2016
A (for CSBF enrolment) duly filled in and signed along with one
time subscription of Rs. 7500/- (Rupees Seven thousand five
hundred only) by way of a Demand Draft payable at New Delhi
or Cheque at par for Rs. 7500/- drawn in favour of Company
Secretaries Benevolent Fund, at any of the Offices of the Institute/
Regional Offices/Chapters or apply ONLINE through Institutes
web portal www.icsi.edu by way of his/her Members login Id.
123
A36299
CS AKSHAY GOWDA G
A41957
A41609
CS ANJU ARORA
A39902
a28972
A39530
CS ASTHA NEBHNANI
A38340
CS BALACHANDRA SUNKU
F5496
C S D U D H A T J I G N E S H K U M A R A42694
KANTILAL
CS HARI BABU THOTA
A17645
A42463
CS IQBAL KAUR
A36663
CS JITENDER SHARMA
CS KAMAL JEET SINGH KALRA
CS KANCHAN
CS KAUSHAL SHUKLA
A14740
F8278
A38245
A39234
CS KAVITA MUNOT
A30630
A37221
CS MANISHA AGARWAL
F5222
F8153
124
Address
X-57, OKHLA INDUSTRIAL AREA, PHASE II
Pincode:110020
NO.25, 1ST FLOOR, KAVERAPPA LAYOUT,
MILLER TANK BUND ROAD, VASANTH NAGAR
Pincode:5600052
NO. 71, 3RD FLOOR, VYSYA BANK,
COLONY, OPP. VASAVI TEMPLE, HULIMAVU,
BANNERGHATTA ROAD Pincode:560076
PLOT. NO. 245, MURLIDHAR INDUSTRIES,GIDC
ESTATE ANKLESHWAR Pincode:393002
317/320 RANGOLI COMPLEX, OPP GURUKUL,
GONDAL ROAD Pincode:360002
NO. 07, KALATHIPILLAI STREET, (NEAR
ELEPHANT GATE), IST FLOOR, SOWCARPET
Pincode:600079
R-4, WZ -66,2ND FLOOR, MEENAKSHI GARDEN
Pincode:110018
TRIVENI APARTMENT,FLAT NO. A5/4, B-3,
VASUNDHARA ENCLAVE Pincode:110096
5, PREM COLONY, B/H LADURAM HALWAI
SHOP, AIRPORT CIRCLE(W), SANGANER
Pincode:302029
C-3, LANE NO.5, SHIV PATH, R.P.A. ROAD,
NEHRU NAGAR Pincode:302016
ABHAYA, 6-3-609/140/1, ANANDA NAGAR,
KHAIRATHABAD Pincode:500004
C-905, GURUKUL PARK, NR. STEALING
HOSPITAL, GURUKUL, MEMNAGAR
Pincode:380052
# 9, ST AND 2ND FLOOR, 9TH MAIN,JAYANAGAR
2ND BLOCK, Pincode:560011
SHOP NO. 3018-19, 3RD FLOOR, TRADE
HOUSE, OPP FIRE BRIGADE, RING ROAD
Pincode:395002
B-27, A-2/42, GUPTA PALACE, RAJOURI
GARDEN, Pincode:110027
U-6/17,DLF CITY PHASE III, Pincode:122001
119/196, OM NAGAR,Pincode:208012
J-83, SECTOR 10,DLF, Pincode:121007
003, GROUND FLOOR, BUILDING NO 5,
SOLITARE -1, OPP . ASHAPALAV POONAM,
GARDEN, MIRA ROAD (E) Pincode:401107
AKASHDEEP APARTMENT,493/B/3, G.T ROAD,
FLAT NO - 805, Pincode:711102
22, SHANKAR NAGAR, TILAK ROAD,
GHATKOPAR (EAST) Pincode:400077
3/37, FIRST FLOOR, MAIN SHIVALIK ROAD,
MALVIYA NAGAR Pincode:110017
C-25 EAST VINOD NAGAR,MAYUR VIHAR,
PHASE -II, Pincode:110091
City
NEW DELHI
BANGALORE
BANGALORE
BHARUCH DIST.
RAJKOT
CHENNAI
NEW DELHI
DELHI
JAIPUR
JAIPUR
HYDERABAD
AHMEDABAD
BANGALORE
SURAT
NEW DELHI
GURGAON
KANPUR
FARIDABAD
THANE
HOWRAH
MUMBAI
NEW DELHI
DELHI
March 2016
A41311
A36026
CS PAYAL GOENKA
A27206
CS PRAMOD S
A36020
A21867
CS PURTI RUSTAGI
a42248
CS RAGHAVENDAR REDDY M
A36172
CS RAHUL SETH
A41525
F7981
A24927
CS RANJANA SINGH
A28067
CS RATNESH KUMAR
A41449
CS RICHA DHAMIJA
CS ROHIT AGARWAL
A31348
A41439
CS RONAK JAIN
CS SHEETAL PATIL
A41913
A24092
F8017
A40405
F3853
A34205
A21341
CS T R RAVICHANDRAN
F7076
A34508
A34168
CS YASH GUPTA
A40508
March 2016
DELHI
KATNI
KOLKATA
BANGALORE
NOIDA
DELHI
HYDERABAD
PUNE
JAIPUR
INDORE
INDORE
INDORE
DELHI
NOIDA
KOLKATA
INDORE
NAVI MUMBAI
DELHI
DT. THANE
AHMEDABAD
KOLKATA
VISAKHAPATNAM
VISAKHAPATNAM
BANGALORE
CHENNAI
BALLABHGARH
DELHI
BAGLI
125
CS NIKUNJ KHANDELWAL
CS NOOPUR JAIN
List of Companies
Registered for Imparting
Training during the month
of January, 2016
CUPID LIMITED
A-68, M.I.D.C. , SINNAR, MALEGAON, NASHIK
OTS LImited
6A, BISHOP LEFROY ROAD, FLAT NO. 11, PAUL MANSION, GROUND FLOOR,
KOLKATA- 700020, KOLKATA
PENGUIN BOOKS INDIA PRIVATE LIMITED
208, Ansal's laxmi Deep, Laxmi Nagar, District Centre, DELHI
PRECISION WELDARC LIMITED, 46C, CHOWRINGHEE ROAD, FLAT-14G,
KOLKATA
Sandeep Mech. Engineers Limited
46C, Chowringhee Road, Flat14G, Everest House, KOLKATA-700071,
KOLKATA
SANKALP REALMART PRIVATE LIMITED
D-88, Ist Floor, Janpath, Shyam Nagar, JAIPUR
Soma Isolux Kishangarh Beawar Tollway Private Limited
2nd Floor, Vatika Business Park, Tower No. 2, Sector-49, Sohna
Road, Gurgaon-122001, Haryana, GURGAON
126
https://www.icsi.edu/Portals/69/
Reports/Report%20on%20
Interaction%20Session%20
organised%20on%2015%2002%20
2016.pdf
https://www.icsi.edu/Portals/69/
Reports/Report%20on%20
Financial%20Inclusion%20
Summit%202016%20on%20
20.02.2016.pdf
https://www.icsi.edu/Portals/69/
Reports/Report%20on%20
Saraswati%20Puja%20
Celebration%2013.02.2016.pdf
https://www.icsi.edu/Portals/69/
Reports/Report%20on%20
Republic%20Day%20Celebration%20
26.01.2016.pdf
https://www.icsi.edu/Portals/69/
Reports/Report%20on%20Full%20
Day%20Seminar%20on%20
30.01.2016%20.pdf
Bhubaneswar Chapter
Name of the programme website link
Investor Awareness Programmes
Programme on Good Governance
& Non-Violence of Gandhian
Philosophy.
http://www.icsi.edu/bhubaneswar/
Career Awareness Programmes by Home.aspx
the Chapter
Opening of ICSI Study Centre
at Municipal College, Rourkela,
Odisha
Patna Chapter
Name of the programme website link
Professional Development
Programme held on 18 .2. 2016 at www.icsi.edu/patna
Chapter Premises.
Ranchi Chapter
Name of the programme website link
Career awareness programmes www.icsi.edu/portals/21/Report
March 2016
http://www.icsi.edu/
Portals/70/2%20MATTER%20
FOR%20CHARTERED%20
SECRETARY%20Feb%202016.
pdfLINK
http://www.icsi.edu/
Portals/70/2%20MATTER%20
FOR%20CHARTERED%20
SECRETARY%20Feb%202016.
pdfLINK
127
Alwar Chapter
Name of the programme website link
Press Conference held on
21.02.2016
http://www.icsi.edu/Portals/48/
Press%20release.jpg
Seminar on Proposed
Amendments in Companies
Act,2013 held on 21/02/2016
http://www.icsi.edu/Portals/48/
Press%20release.jpg
Faridabad Chapter
Name of the programme website link
Study Circle Meeting on A Critical
Analysis of Secretarial Standard
SS-1 SS-2 and its simplification
held on 22.2.2016
http://www.icsi.edu/Portals/5/
Report_on_SCM_20.2.2016%20
by%20Faridabad%20Chapter.
pdf
Gurgaon Chapter
Name of the programme
Full Day Seminar on CS Challenging Opportunities Ahead
Covering NCLT/GST/SA/LODR
held on 15.01.16
31st MSOP held on 18.01.16 06.02.16
Full Day Seminar CS- Mastering
The Challenge of Change held on
06.02.16
website link
https://www.icsi.edu/Portals/7/
FDS.png
https://www.icsi.edu/
Portals/7/31st%20MSOP_
Announcement.pdf
https://www.icsi.edu/Portals/7/
GGN%20PIC.pdf
Lucknow Chapter
Name of the programme website link
Participation in International
AgriHorti Tech Held between
http://www.icsi.edu/Portals/11/
28.1.2016 and 30.1.2016 at
Participation_of_LC.pdf
Lucknow
Ludhiana Chapter
Name of the programme website link
Seminar on GST & Court
http://www.icsi.edu/Portals/12/
Procedures held on 04.02.2016
Seminar_Report_04%20feb.16pub.pdf
Study Circle Meeting on
http://www.icsi.edu/Portals/12/
Procedures Under Foreign Trade
SCM-15-02-2016.pdf
Policy held on 15.02.2016
128
website link
https://www.icsi.edu/Portals/71/
PALAKKAD%20Inauguration.pdf
https://www.icsi.edu/Portals/71/
Members/Proceedings%20
of%20PD%20Meetings%20
February%202016.pdf
https://www.icsi.edu/Portals/71/
Members/Proceedings%20
of%20PD%20Meetings%20
February%202016.pdf
https://www.icsi.edu/Portals/71/
Members/Proceedings%20
of%20PD%20Meetings%20
February%202016.pdf
https://www.icsi.edu/Portals/71/
Members/Proceedings%20
of%20PD%20Meetings%20
February%202016.pdf
https://www.icsi.edu/Portals/71/
Members/Proceedings%20
of%20PD%20Meetings%20
February%202016.pdf
Bengaluru Chapter
Name of the programme
Half Day Seminars
Classroom Teaching Inauguration
Republic Day Celebration
Orientation Session on Moot Court
Joint Programme on SEBI LODR
Regulations in association with
BSE & SEBI
Student Study Circle Meetings
Members Study Circle Meeting
website link
http://bit.ly/1PO1qoz
http://bit.ly/1Qii0CM
http://bit.ly/1XuzgUF
http://bit.ly/1KTd30E
http://bit.ly/1RIraYc
http://bit.ly/1ojqJrv
http://bit.ly/1TkIlPE
Calicut Chapter
Name of the programme website link
12th Residential Programme of http://www.icsi.edu/calicut/
Calicut Chapter of SIRC of ICSI
NewsEvent.aspx
Coimbatore Chapter
Name of the programme website link
18th Residential Programme on
CompanySecretaries to Educate,
Empower & Execute held from
19.2.2016 to 21.2.2016 at Ooty
http://www.icsi.edu/coimbatore/
RecentProgrammes.aspx
Hyderabad Chapter
Name of the programme website link
Student Success Meet 2016
Date: 6 February 2016
Venue: Chapter Premises
Research Circle Meeting on
Comprehension about Insolvency
and Bankruptcy Date: 6 February
2016 Venue: Ni-MSME, Yusufguda,
Hyderabad
Panel discussion on In-depth
analysis on Draft Proposals of
Company Law Committee:
Date: 6 February 2016 Venue:
Ni-MSME, Yusufguda, Hyderabad
http://www.icsi.edu/portals/2/
Activity/HYD-FEB16.pdf
March 2016
PUNE Chapter
Salem Chapter
Name of the programme website link
http://www.icsi.edu/salem/Activities/
Study Circle Meetings
StudyCircleMeetGroupDiscussion.aspx
Seminar
http://www.icsi.edu/salem/Activities/
SeminarPDPs.aspx
Special Lecture
http://www.icsi.edu/salem/Activities/
StudentsMeetGuidanceProgrammeLecture.aspx
Career Awareness Programmes
http://www.icsi.edu/salem/Activities/
CareerAwarenessProgrammeCareerFair.aspx
website link
http://www.icsi.edu/portals/32/
CHARTERED_SECRETARY_
FEBRUARY_2016.pdf
Vadodara Chapter
Name of the programme website link
The Seminar topic was Glimpses http://www.icsi.edu/Portals/37/
on SEBI (LODR) Regulations, Report_07.02.2016.pdf
2015, Secretarial Standards and
recent developments under the
Companies Act, 2013
Obituaries
NA
Kolhapur Chapter
NA
Indore Chapter
Name of the programme website link
01st 5 Days Skill Development
Programme held on 19.01.2016
Study Circle Meeting on SEBI
LODR 2015 held on 20.01.2016
https://www.icsi.edu/indore/
Republic Day Celebration followed by NewsBulletin.aspx
Blood Donation Camp
Study Circle Meeting on CLC
Report held on 06.02.2016
Nashik Chapter
Name of the programme website link
Seminar onCompanies Act, 2013
Legal Documents held on 18.2.2016
NA
March 2016
129
KOCHI CHAPTER
ICSI
International
Corporate
Governance
Day
Year 2016 Power
of Best Practices
130
March 2016
Miscellaneous
Corner
NCLT Corner
CG Corner
PCS Corner
March 2016
131
Article
Article
132
March 2016
SECTION NOS.
(Act of 2013)
111
111A
117B(4)
117C(4)
58(5)
59(2)
71(9)
71(10)
58A
73(4)
186
196(4)
98(1)
119(4)
225(3)Proviso
140(4)
284(4) proviso
169(4)
235
237(b)
247
250
210(2)
213(1)
216(2)
222(1)
396(3A)
237(4)
397,398
403
408
407
242(1), (2)
242(4)
242(2) (k)
243(1) (b)
SCHEDULE XI
246
410
287(1)
621-A
441(1)
637A
459
POWER
Chapter -IV Share Capital and Debentures
To pass order on appeal against refusal of registration of transfer.
To order rectification of register of members on confirming or rejecting the transfer or transmission of shares.
To order restriction to be imposed on the company for incurring further liabilities on application of debenture trustees.
To order redemption of debentures forthwith by payment of principal and interest on request of Debenture holders
or debenture trustees.
Chapter- V Acceptance of Deposits by Companies
To order the company to make repayment of the matured deposits and loss or damage incurred by the depositor.
Chapter VII Management and Administration
To call meetings of members etc. either suo motto or on application basis.
To order inspection of minute books or direct the copy of minutes to be sent out to the person requiring it.
Chapter-X Audit and Auditors
To restrict copies of representation of the auditor to be removed to be sent out.
Chapter- XI Appointment and Qualifications of Directors
To restrict copies of representation of the director to be removed to be sent out to prevent the needless publicity which
may be defamatory to the director.
Chapter-XIV Inspection, Inquiry and Investigation
To order investigation of the affairs of the company.
To order investigation of companys affairs on application of members.
To order investigation of ownership of company.
To impose restrictions on issue of securities.
Chapter-XV Compromises, Arrangements and Amalgamations
To assess compensation on appeal from assessment of compensation made by prescribed authority
Chapter- XVI Prevention of Oppression and Mismanagement
To pass an order for relief in cases of oppression and mismanagement.
To pass interim order on application of any party to the proceeding for regulating the conduct of affairs of the company.
To make appointments of Directors etc. to report to Tribunal to prevent oppression or mismanagement.
To grant leave under consequences of termination /modification of certain agreements. Also, No Managing Director
or Director or Manger whose agreement is terminated shall be appointed for a period of 5 years from the date of order
without the grant of leave by the Tribunal.
To punish for contempt of the Tribunal in cases where a fraudulent application is made under sections 397,398 (241
and 245 of 2013). This power shall apply for sections 539 to 544 (337to341 of 2013).
Chapter- XX Winding up
To constitute an Advisory Committee which shall consist of creditors or contributories or other persons as directed
by Tribunal to become Members of the Committee and to report to the tribunal on the matters directed by Tribunal.
Chapter- XXVIII Special Courts
To compound certain offences before the investigation has been initiated or pending under the Act.
Chapter- XXIV Miscellaneous
To accord approval, sanction, consent, confirmation or recognition, direction or to grant any exemption etc. in relation
to any matter subject to various conditions as consider appropriate by the Tribunal.
March 2016
133
NCLt Corner
Disciplinary Directorate
As per Section 21of the Company Secretaries Act, 1980, the
Council has established a Disciplinary Directorate headed by the
Director (Discipline) and other employees for making investigations
in respect of any information or complaint received by it. Where
the Director (Discipline) is of opinion that a member is guilty of any
professional or other misconduct mentioned in the First Schedule,
he shall place the matter before the Board of Discipline and where
the Director (Discipline) is of the opinion that a member is guilty
of any professional or other misconduct mentioned in the Second
Schedule or in both the Schedules, he shall place the matter before
the Disciplinary Committee.
Professional/other misconduct
As per Section 22 of the Company Secretaries Act, 1980, for
the purposes of this Act, the expression professional or other
misconduct shall be deemed to include any act or omission
provided in any of the Schedules, but nothing in this section shall
be construed to limit or abridge in any way the power conferred
or duty cast on the Director (Discipline) under sub-section (1) of
section 21 to inquire into the conduct of any member of the Institute
under any other circumstances.
134
Inauguration
of
Inauguration of Madhya Kolkata Study Circlefor Members of ICSI B. Mohanty (RoC, West Bengal) and CS Mamta
Binani seen lighting the lamp to mark the inauguration of the Study Circle.
March 2016
135
CG Corner
136
1 March
3 March
8 March
20 March
21 March
21 March
21 March
21 March
21 March
22 March
23 March
24 March
24 March
25 March
25 March
RESOLVED THAT in supersession of the earlier resolutions on the subject under Regulation 168 of the Company Secretaries
Regulations, 1982, the Council gives general permission to the members in practice to:
a) Become designated partner / partner of a limited liability partnership (LLP) the partners of which are all company secretaries
in practice to render all such services which a company secretary in practice is allowed to render in terms of Section 2(2) of
the Company Secretaries Act, 1980 read with Regulation 168 of the Company Secretaries Regulations, 1982;
b) Become designated partner / partner of LLP which is engaged in any other business or occupation provided that:
(i) the practicing member does not hold more than 50% share in the contribution to capital and / or ownership
(ii) LLP is not providing attestation services to be performed by a PCS in terms of the provisions of the Companies Act, 2013
and the Rules framed there under or the services exclusively reserved to be rendered by a PCS under the provisions
of any Act or Rules framed there under. For the purposes of the above attestation services will cover but will not be
restricted to the following:
(i) Signing of Annual Return pursuant to section 92 of the Companies Act, 2013.
(ii) Issuance of Secretarial Audit Report in terms of Section 204 of the Companies Act, 2013
(iii) Issuance of Certificate of Securities Transfers in Compliance with the Listing Agreement with Stock Exchanges.
(iv) Certificate of reconciliation of capital, updation of Register of Members, etc. as per the Securities & Exchange Board
of Indias Circular D & CC/Cir-16/2002 dated December 31, 2002.
(v) Conduct of Internal Audit of Operations of the Depository Participants.
(vi) Certification under Clause 49 of the Listing Agreement.
March 2016
137
PcS Corner
The Council in 232nd meeting while considering the recommendations of the Practicing
Company Secretaries Committee after detailed deliberations passed the following
resolution:
Paper-1
Paper-2
Sunday
5th June, 2016
Paper-3
Paper-4
Date and
Day
01.06.2016
Wednesday
02.06.2016
Thursday
03.06.2016
Friday
04.06.2016
Saturday
05.06.2016
Sunday
06.06.2016
Monday
07.06.2016
Tuesday
08.06.2016
Wednesday
09.06.2016
Thursday
10.06.2016
Friday
Professional Programme
(Old Syllabus)
Company Secretarial Practice
(Module I)
Drafting, Appearances and Pleadings (Module-I)
Executive Programme
Professional Programme
(New Syllabus)
Cost and Management Accounting (Module-I)* Advanced Company Law and Practice
OMR Based
(Module I)
Tax Laws and Practice
Secretarial Audit, Compliance Management and Due
(Module-I)* OMR Based
Diligence (Module I)
Financial, Treasury and Forex Management Industrial, Labour and General Laws (Module-II)* Corporate Restructuring, Valuation and Insolvency
(Module-II)
OMR Based
(Module I)
Corporate Restructuring and Insolvency
NO EXAMINATION
Information Technology and Systems Audit (Module II)
(Module-II)
NO EXAMINATION
NO EXAMINATION
NO EXAMINATION
Company Accounts and Auditing Practices Advanced Tax Laws and Practice (Module III)
(Module-II)
Due Diligence and Corporate Compliance Capital Markets and Securities Laws (Module-II) Drafting, Appearances and Pleadings (Module III)
Management (Module-IV)
Governance, Business Ethics and Sustainability NO EXAMINATION
Elective 1 out of below 5 subjects (Module III)
(Module-IV)
(i)
Banking Law and Practice
(ii)
Capital, Commodity and Money Market
(iii)
Insurance Law and Practice
(iv)
Intellectual Property Rights Law and Practice
(v)
International Business-Laws and Practices
NO EXAMINATION
*(The three papers, i.e., (i) Cost and Management Accounting; (ii) Tax Laws and Practice; and (iii) Industrial, Labour and General Laws to be held in OMR Mode
on 1st , 2nd and 3rd June, 2016 respectively)
06.06.2016
Monday
07.06.2016
NO EXAMINATION
Corporate Restructuring, Rescue and
Tuesday
Insolvency (Paper-I)
08.06.2016
Strategic Options for Corporate
NO EXAMINATION
Wednesday
Restructuring (Paper-II)
09.06.2016
Cross Border Insolvency Practice and
NO EXAMINATION
Thursday
Procedure (Paper-III)
10.06.2016
Professional and Ethical Practices for
NO EXAMINATION
Friday
Insolvency Practitioners (Paper-IV)
*Note: All Examinations shall be conducted in Open Book Mode.
138
March 2016
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