Monthly • Volume XXXV • Page 1-24 • No.05 • May, 2016 ... Newsletter-May2016.pdf · Gupta (Vice President – Internal Audit and Company Secretary, Spentex Industries Ltd.)

Congratulations

NIRC - ICSI Newsletter | May 2016 1

Monthly • Volume XXXV • Page 1-24 • No.05 • May, 2016

1 Program on Corporate Governance - Business Ethics & Culture Changes (15.4.2016): (Left) L to R CS Rajiv Bajaj (Council Member-ICSI), CS (Dr.) S K Gupta (Vice President – Internal Audit and Company Secretary, Spentex Industries Ltd.) and CS B Murli (Senior Vice President – Legal& Company Secretary, Nestle India Limited) addressing. (Right) CS Manish Gupta welcoming CS Ashok Haldia (CEO & Managing Director, PTC India Financial Services Ltd.- Key-note speeker) by presenting flower bouquet.

3 Seminar on NCLT-Emerging Scope of Judiciary organised by Allahabad Chapter (24.4.2016): Group photograph of participants alongwith CS Rajender Kumar (Asst. Official Liquidator), CS Manish Gupta, CS Pradeep Debnath, CS Nitesh Kumar Sinha, CS Shambhuvesh Dhar Tripathi and others.

2 UP State Conference on “CS-Spectrum of Opportunities” (23.04.2016): L to R – CS Nitesh Sinha, CS Ranjeet Pandey, CS Ankur Srivastava, CS Pavan Kumar Vijay, CS Vaibhav Shukla, CS Kushal Saxena, Shri Ruvit Kumar, Dy. ROC, Kanpur (Chief Guest), CS Manish Gupta, CS Bimal Jain, CS Pradeep Debnath releasing souvenir of the conference.

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From the Chairman

CS Alka AroraRegional Director 09810375788

Dear Professional Colleagues,

It gives me immense pleasure to speak with you all, once again through this esteemed publication. This is a platform which provides us the means to share knowledge with expertise, interact on real time challenges and discuss relevant issues so as to enable us to perform our professional delivery with more efficiency, effectiveness and enthusiasm.

Friends, the day when we had decided to become a Company Secretary and become part of this prestigious profession, we knew that hard work is going to be the vital nutrient to nourish our dream of becoming a Company Secretary. Our professional achievements are the result of our persistent hard work and passion for excellence which can only be achieved through continuous updation of knowledge.

Decades back, it was said “knowledge is power.” In the beginning of twentieth Century it is corrected and said “updated knowledge is power” but now-a-days it is not only realised but also recognised that “the proper implementation of updated knowledge is only power.” To ensure proper implementation of knowledge the management of the time is very essential.

In the present scenario of fast moving business environment, efficient & effective utilization of time is the key factor. As corporates, society, government and all other stake-holders are having high expectations from professionals like us and our efficiency is being measured on the basis of consumption of time in performing any assignment. In order to prove our potential we should develop the habit of utilising technology to cut down all physical barriers.

It is universal truth that knowledge gets multiplies by interacting and sharing with others. Keeping this in mind NIRC-ICSI is regularly organising various professional development programmes on the topics of professional relevance. I take this opportunity to request you to kindly attend these programmes in large numbers as the response of the stakeholders’ in these programme will act as fuel in recharging our energies to organise more and more quality programmes. The gist of the programmes being organised by NIRC during the months of April, 2016 are as under for your reference:

Programs for Members during the MonthOn 11th April, 2016 Empowerment Session on the Sexual Harassment of Women at Workplace (Prevention, Prohibition & Redressal) Act, 2013. CS Monika Mehndiratta Gupta, Director, Sr. Group Legal Counsel and Company Secretary, Ericsson was the guest speaker on the occasion.

On 15th April, 2016 Program on Corporate Governance - Business Ethics & Culture Changes. CS Ashok Haldia, CEO & Managing Director, PTC India Financial Services Ltd was the Key Note Speaker and CS Rajiv Bajaj, Council Member-ICSI, CS (Dr.) S K Gupta, Vice President – Internal

The aim of education is the knowledge, not of facts, but of values.

~ William S. Burroughs

• From the Chairman 2-3• Articles 4-9• Annual Sponsorship Scheme 10• YUVA Corporate Membership 11• Compliance Checklist 12-14• Forthcoming Programs 15• News From the NIRC 16-17• Corporate Membership 18• CSBF 20• NIRC in Media 21• Forthcoming Program 22


From the ChairmanAudit and Company Secretary, Spentex Industries Ltd. and CS B Murli, Senior Vice President – Legal & Company Secretary, Nestle India Limited were the guest speakers on the occasion.

On 16th April, 2016 Program on Whirlwind Plenary on Evangelizing International Corporate Governance Day was organised at ICSI-NIRC Building, New Delhi. CS R K Khurana was the guest speaker and same was attended by good number of participants.

On 18th April, 2016 Meeting of Company Secretaries in Practice on Threats & Solutions - Cyber Laws. CS Anuj Agarwal, Cyber Laws Expert was the guest speeker.

On 21st April, 2016 One day Seminar was organised on the theme “Impact of Changes in Service Tax, Excise, and Customs vide Union Budget, 2016” at PHD House, New Delhi for Members of YUVA Corporate Members of NIRC.

On 22nd April, 2016 Study Session on NCLT. Shri Hemant Sharma, Principal Associate, Dhir & Dhir Associates and Shri Sumit Garg, Senior Associates, DMD Advocates were the guest speaker.

On 23rd April, 2016 UP State Conference organised at Kanpur. CS Ranjeet Pandey, CS Pavan Kumar Vijay and CS Bimal Jain were the guest speaker on the occasion. I extend my sincere thanks to the Chairman and Managing Committee for successfully organising such a great program. Mr. Ruvit Kumar, Deputy ROC was Chief Guest and inaugurated conference. On the occasion, a Souvenir was also released by Chief and other dignitaries.

On 30th April, 2016 one day workshop on Practical Aspects of Handling Board Meetings & General Meetings (Covering SS-I & SS-2). The Members of ‘Yuva Corporate Membership Scheme’ of NIRC-ICSI were entitled for free participation in the workshop. CS Ilam Kamboj, Member of Secretarial Standards Board (SSB) & Company Secretary in Practice and CS Ranjeet Pandey, Council Member-ICSI & Member of Secretarial Standards Board (SSB) were guest speakers.

Programs for Students during the MonthOn 8th April, 2016 NIRC-ICSI has organised Delhi-RO & Regional Round of the 16th All India Company Law Quiz. CS Vishhal Arora and CS Vishal L Aggarwal were the Judges for the Quiz competition and CS Himanshu Harbola was the Quiz Master. Ms. Suman Goyal and Mr. Sagar Singhal were the winner of Regional Round and shall be representing the NIRC at the National Level of 16th All India Company Law Quiz to be held at Kolkatta in the month of July, 2016.

On 11th April, 2016 Campus Placement for the participants of 232nd & 233rd MSOP Batches.

On 12th April, 2016 Valedictory Function of 232nd & 233rd MSOP Batches. CA Rajesh Sharma, Council Member-ICSI (Govt. Nominee) and CS Ashok Kinra, Company Secretary, CCIC of India Ltd were the special Guests for the function.

On 16th April, 2016 : Professional Development Program for Students was organised wherein CS Gaurav Arora was guest speaker. Valedictory Function of 234th MSOP was also held at Lucknow wherein Mrs. Lalita Pradeep was Guest of Honour on the occasion.

I take this opportunity to express my sincere thanks and gratitude to all guests, faculties, speakers and invitees for sparing their valuable time and sharing their words of wisdom, expertise and practical experience with the participants of the above mentioned programs.

My dear friends, as professionals our responsibility just doesn’t end on the day when we have received our membership from the Institute. I believe that was the day when our real responsibility began. We, as professionals need to pursue excellence through continuous hard work, dedication and most importantly team work throughout our professional lives.

The time has come when we all should collectively take concrete steps to shape the future of our profession. In this dynamic corporate world, the young generation of our profession cannot grow in real sense unless and until they have some mentor guiding and motivating them to reach to the next level. The NIRC- ICSI is regularly organising dedicated Campus Placements for the MSOP Batches every month at NIRC- ICSI premises. The very idea behind this initiative of the NIRC- ICSI is to place fresher Company Secretaries from day one of their membership.

As Chairman NIRC- ICSI, I humbly request each member of the Institute to place in your respective Companies, PSU’s, PCS Firms, Law Firms etc. atleast one fresher Company Secretary from your very own NIRC- ICSI premises. I personally assure you that you will be overwhelmed by the level of knowledge and enthusiasm of the younger generation of Companies Secretaries are possessing.

Visit to ChaptersWith an objective to have first- hand assessment of the needs of the chapters and with a motive of empowering and motivating the chapters, I have personally visited Bhilwara, Lucknow, Udaipur, Kanpur & Allahabad Chapters of the Northern Region and encouraged them to organise quality programs on NCLT & GST and to build the capacities of our members and students residing in their jurisdiction. I have assured full support from NIRC in their endeavours.

Company Secretary Benevolent Fund (CSBF)In order to strengthen the financial position of the Company Secretary Benevolent Fund (CSBF), your NIRC requests all the members of our Northern Region to join CSBF for extending helping hands to support our Professional Colleagues and their dependents who are in dire need of the same. Therefore, On behalf of Team NIRC, it is my earnest appeal that all of you must become member of the fund and contribute voluntarily for the noble and pious cause of CSBF.

Forthcoming ProgramsNIRC –ICSI is organising the following forthcoming programmes. I take the opportunity to request all of you to attend these programmes in large numbers:

On 16th May, 2016 Women Empowerment Series on ‘Nurturing Parenting.’ The members along with spouses are requested to participate in the programme.

On 20th-21st May, 2016 Regional Residential Conference of NIRC of ICSI at Jim Corbett National Park, Uttarakhand. The theme of Conference is “CS - Precision & Performance.” The coverage of program will be Ease of doing business, NCLT & NCLAT, Companies Amendment Bill and Power of Performance & Influence.

On 23rd May, 2016 Empowerment Series on the topic of “Opportunities under GST”.

On 28th May, 2016 One day workshop on the topic of professional interest.

At the end, I sincerely express my gratitude to everybody who has helped in shaping the journey of the Company Secretary profession. I would extend my deep appreciation to all of them for their sheer sense of wisdom and keenness to guide the profession.

Friends, let me assure you that your feedback and participation is always welcome and is truly valued as it is only your feedback that will help us to improve further and emerge as a brand. I look forward for your valuable suggestions and feedback. Feel free to interact with me at [email protected]

With best regards,Yours Sincerely,

CS Manish GuptaChairman, NIRC-ICSI

Cell: 9212221110


Article

E-commerce in the current market scenario has been growing steadily across the Globe. E-Commerce business is undertaken on a Business to Business (B2B) or a Business to Consumer (B2C) basis. In the Indian market, FDI in B2B e-commerce is allowed upto 100% under the automatic route (for both multi-brand and single-brand trading). Subject to the conditions mentioned for single brand retail trading, a single brand retail trading entity operating through brick and mortar stores is permitted to undertake B2C e-commerce. In case of multi-brand trading, 100% FDI is allowed only in B2B e-commerce and not in B2C e-commerce. Broadly, the E-commerce firms carry business in two ways such as through “market place model” or “inventory based model”.

Further, the Government of India on 29th March, 2016 released “Press Note 3” through which the Government cleared its long overdue stance on Foreign Direct Investment in E-Commerce sector. Now, 100% Foreign Direct Investment (FDI) is allowed in online marketplaces and this great move will leave many E-commerce Companies at an advantageous position.

The said Press Note has been issued after a series of consultations with various stakeholders, E-commerce Companies besides the small and big offline retailers. The Government also appears to have taken its stance against the deep discounting practices which has been followed by some e-commerce entities to protect the brick and mortar stores thus trying to curb the predatory pricing by the e-commerce companies. The Press Note is one of the right steps in the direction of ease of doing business.

The said Press Note has explicitly provided the definitions on e-commerce, e-commerce entity, inventory based model of E-commerce and marketplace based model of E-commerce while the previous FDI policy left these terms undefined.

The Marketplace based model of e-commerce has been defined as providing of a technological platform

by an e-commerce entity on a digital and electronic network to act as a facilitator between buyer and seller. Few leading websites undertaking the business through ‘Market-Place’ Model are Flipkart, Snapdeal, Amazon etc. Whereas the Inventory based model refers to model where inventory of goods and services is owned by e-commerce entity and is sold to the consumers directly. In the inventory based model, ownership of goods and services and also the market place vests with the same entity. This model does not work as a facilitator of e-commerce, but is engaged in E-commerce directly.

While 100% FDI is allowed under automatic route in marketplace model of e-commerce the same is not allowed in inventory based model of e-commerce. It has also been clarified that ecommerce companies won’t be allowed to influence the price of goods and services directly or indirectly and not more than 25% of sales can come from a single vendor or its group companies, this restriction might force some companies to realign or restructure their strategies for their business models and would be a big challenge. The implementation of this rule might create some hassles for the business and would be interesting to watch out for.

The second important restriction is that E-Commerce Companies providing marketplace will not directly or indirectly influence sale price of goods or services which is very important to bring a level playing field. The intent behind this condition might be to save the Companies from further losses to curb the Companies to sell the products below market price in order to acquire the customers. It might lead to drop in sales but the same would reduce the quantum of losses too. Further, it includes other conditions such as the warranties and after sale services will be provided by sellers and not by the marketplace companies.

Similarly, marketplaces have been allowed to provide support services to sellers such as logistics, warehousing, order fulfilment, call centres, payment

Recent Amendments in FDI Policy for E-Commerce CS Mihir Mehrotra*

*The views expressed are personal views of the author and it should not be taken as views of the NIRC-ICSI.


Articlecollection and other services. This step ensures that the customer should be satisfied as marketplace is serving as an interface with the customers and hence support services should complete the gap between the entities involved for an overall customer satisfaction.

What remains unaddressed is whether the 25% threshold limit would be determined by sales in volume or value and whether such parameter would be applicable on a yearly/ financial yearly basis. Such a condition might leave many E-commerce Companies at distress as they may not be able to comply immediately with this stipulation.

As per my views, the latest amendment in the FDI Policy with regard to the E-Commerce sector has opened up plethora of opportunities and is a game changer. The said amendment has brought much needed clarity with regard to what e-commerce

company is and would further smoothen the fund raising for several e-commerce companies. This is considered to be one of the corrective measures in the direction of Ease of doing business in India. This policy initiative will certainly attract more FDI into the country which means more jobs and places to be covered. The said amendment is a vital step as it not only removes ambiguity and protects investors, but also focuses on the government’s commitment to induce clarity and consistency in the policy as well as the system. Such kind of policy initiatives not only gives a strong positive message but it is need of the time to fulfil the government’s vision and objective. At the same time, with regard to the E-commerce companies, only the time will tell in the future how such companies will derive the best out of this policy and overcome all the hitches and hurdles associated with the said policy and its implementation.

VACANCY ANNOUNCEMENT

VACANCY ANNOUNCEMENT

INDUS HYDRO POWER (INDIA) PRIVATE LIMITEDPosition : Company SecretaryLocation : DelhiPay Scale : NegotiableExperience : 0 – 2 Years

Interested Candidates can send their Resume at [email protected]

PATIKARI POWER PRIVATE LIMITEDPosition : Company SecretaryLocation : Gurgaon Pay Scale : NegotiableExperience : 0 – 2 Years

Interested Candidates can send their Resume at [email protected]


Article

The Finance Bill 2016 has sought to expand the scope of taxable services provided by the Government/Local Authority to business entities. With effect from April 1, 2016, under clause (iv) of Section 66D(a) of the Finance Act, 1994 (“the Finance Act”), the words ‘support services’ have been substituted by the words ‘any service’ thereby, , any services provided by the Government or Local authority to a Business Entity is made chargeable to Service tax.

Reverse charge on Service received from Government.

However, the liability to pay Service tax on any service provided by Government or a Local Authority to Business Entities is on the service recipient under Reverse Charge w.e.f. April 1, 2016 except following:

• Rentingof immovableproperty.• Services by the Department of Posts by way of speed

post, express parcel post, life insurance and agency services provided to a person other than Government;

• Services in relation to an aircraft or a vessel, inside oroutside the precincts of a port or an airport;

• Transportofgoodsorpassengers.

The impact of the aforesaid amendment has been that all the services provided by the Government/Local Authority are taxable w.e.f. April 01, 2016. In order to put rest to the much-debated issue of taxability of all Governmental services, the Central Government has exempted following services received from government from service tax [by amending Notification number. 25/2012 dated 20.06.2012 vide Notification No. 22/2016-ST dated April 13, 2016 to amend/insert the Entries in the following manner]:

Relevant Entry

Particulars of Exemption

Exemption Amended

Entry No. 39

After the words “Services by, the words “Government, a local authority or” shall be inserted. The amended Entry No. 39 reads as under:

“Services by Government, a local authority or governmental authority by way of any activity in relation to any function entrusted to a municipality under article 243 W of the Constitution.”

New Exemptions Provided

Entry No. 54

Services provided by Government or a local authority to anotherGovernment or local authority. Provided that nothing contained in this Entry shall apply to services specified in sub-clauses (i),(ii) and (iii) of Section 66D(a) of the Finance Act

Entry No. 55

Services provided by Government or a local authority by way of issuance of passport, visa, driving licence, birth certificate or death certificate

Entry No. 56

Services provided by Government or a local authority where the gross amount charged for such services does not exceed Rs. 5000/-.

This exemption is not applicable to services specified in sub-clauses (i), (ii) and (iii) of Section 66D(a) of the Finance Act;

In case of continuous supply of service, the exemption shall apply only where the gross amount charged for such service does not exceed Rs. 5000/- in a Financial Year.

Entry No. 57

Services provided by Government or a local authority by way of tolerating non-performance of a contract for which consideration in the form of fines or liquidated damages is payable to the Government or the local authority under such contract

Entry No. 58

Services provided by Government or a local authority by way of-

(a) registration required under any law for the time being in force;

(b) testing, calibration, safety check or certification relating to protection or safety of workers, consumers or public at large, required under any law for the time being in force

Entry No. 59

Services provided by Government or a local authority by way ofassignment of right to use natural resources to an individual farmer for the purposes of agriculture

Government is Service Provider but not Service Tax Payer

CS Akshi Gandhi*

*The views expressed are personal views of the author and it should not be taken as views of the NIRC-ICSI.


ArticleEntry No. 60

Services by Government, a local authority or a governmental authority by way of any activity in relation to any function entrusted to a Panchayat under Article 243G of the Constitution

Entry No. 61

Services provided by Government or a local authority by way of assignment of right to use any natural resource where such right to use was assigned by the Government or the local authority before the April 1, 2016:

Provided that the exemption shall apply only to Service tax payable on one time charge payable, in full upfront or in instalments, for assignment of right to use such natural resource

Entry No. 62

Services by way of allowing a business entity to operate as a telecom service provider or use radiofrequency spectrum during the financial year 2015-16 on payment of license fee or spectrum user charges, as the case may be

Entry No. 63

Services provided by Government by way of deputing officers after office hours or on holidays for inspection or container stuffing or such other duties in relation to import export cargo on payment of Merchant Overtime charges (MOT).

CLARIFICATIONS BY THE CBEC

With the omission of the term “support services”, the spectrum of services provided by the Government/Local Authority that are taxable has widened leading to doubts and queries. The Central Board of Excise and Customs (“the CBEC”) vide Circular No. 192/02/2016-ST dated April 13, 2016 (“the Circular”) has issued a detailed clarification on issues regarding levy of Service tax on the services provided by Government or a Local authority to Business Entities.

I. It is clarified that any activity undertaken by Government or a local authority against a consideration constitutes a service and the amount charged for performing such activities is liable to Service Tax. It is immaterial whether such activities are undertaken as a statutory or mandatory requirement under the law and irrespective of whether the amount charged for such service is laid down in a statute or not. As long as the payment is made (or fee charged) for Page 3 of 4 getting a service in return (i.e., as a quid pro quo for the service received), it has to be regarded as a consideration for that service and taxable irrespective of by what name such payment is called. It is also clarified that Service Tax is leviable on any payment, in lieu of any permission or license granted by the Government or a local authority. [Point 5 of the Circular]. Further, it has been provided that Circular

No. 89/7/2006-Service Tax dated December 18, 2006 and Reference Code 999.01/23.8.07 in Circular No. 96/7/2007-ST dated August 23, 2007 issued in the pre-negative list regime are no longer applicable.

II. It is clarified that taxes, cesses or duties levied are not consideration for any particular service as such and hence not leviable to Service Tax. These taxes, cesses or duties include excise duty, customs duty, Service Tax, State VAT, CST, income tax, wealth tax, stamp duty, taxes on professions, trades, callings or employment, octroi, entertainment tax, luxury tax and property tax.

III. It is clarified that fines and penalty chargeable by Government or a local authority imposed for violation of a statute, bye-laws, rules or regulations are not leviable to Service Tax. Further, Fines and liquidated damages payable to Government or a local authority for non-performance of contract entered into with Government or local authority have been exempted vide Notification No. 25/2012 -ST dated June 20, 2012 as amended by Notification No. 22/2016 -ST dated April 13, 2016 .

Writer Comment

The effect of the amendment and Circular would be far reaching inasmuch as it provides that any service (except few specifically excluded) provided by the Government/Local Authority will be exigible to Service tax irrespective of the fact whether payments have been made to the Government qua performing their statutory functions/duties or otherwise.

Certainly, the said clarification will assist in clearing the mist surrounding the taxability of Governmental services, which has been a much-debated and fearing issue having wide implications, among the Trade and Industry. However, it may be noted that on perusal of the stated amendments & clarification, still complete clarity/relief is not granted to Business Entities in respect of the following issues:

• Documentation required for substantiating theexempted availed.

• Serviceprovidebygovernmenthasbeenmadetaxablewith effect from 01.04.2016. However, exemption notification is applicable from 13.04.2016. Now the Moot question before us is whether exemption to service shall be applicable during the interim period i.e. from April 1, 2016 to April 13, 2016?

• BusinessEntitieswouldberequiredtotakeregistrationand file Service Tax Returns, claiming exemption on for every small Governmental services of less than Rs. 5,000/- like payment of small ROC fees etc.


Suggested format(s) of SEBI listing Regulations

Suggested format(s) under Regulation 7(3) and Regulation 40(9) of SEBI Listing Regulations, 2015*


Suggested format(s) of SEBI listing Regulations

*As released by ICSI Headquarter.


Annual Sponsorship Scheme

Principal Sponsor - Rs. 5,00,000/- annually �� Logo display at fully day Program Backdrop (12 Programs) �� Logo at the backdrop of Study Circle Meetings, Meetings organized for PCS,

workshops organized by NIRC, Study Groups meetings organized by NIRC.�� Logo display at fully day Program Backdrop of all State Conference / Regional

Conference / Regional PCS Conference as may be organized by NIRC. (6 Programs)�� Display at fully day Program, Standies / Banners at all State Conference / Regional

Conference / Regional PCS Conference as may be organized by NIRC. (6 Programs) �� Stall at the venue of full day Program (6 Programs)�� Speaking slot (max. half an hour) to any speaker from the sponsoring organization

or any other speaker authorized by such organization subject to confirmation by Chairman NIRC-ICSI. (2 Programs)

�� Delegate fee exemption for 03 delegates in all the whole day seminar organized by NIRC.

�� Display of logo at E-mails which will be circular to all Members (around 14000 members) of the NIRC of ICSI and other professionals.

�� Distribution of pamphlet/handouts of the sponsoring organization to the delegates, if such pamphlets are provided by the sponsoring organization. (6 Programs)

�� Name/logo of sponsoring organization will be published in the announcement of the program in NIRC Newsletter.

�� One full page advertisement in NIRC Newsletter. (3 Colour & 2 Black & White)�� Special acknowledgement at the programs organized by NIRC.�� Recognizing the MD & CS of the organization at our Annual general meeting.

Platinum Sponsor - Rs. 3,00,000/- annually �� Logo display at Program Backdrop (8 Programs) �� Logo display at fully day Program Backdrop of all State Conference / Regional

Conference / Regional PCS Conference as may be organized by NIRC. (4 Programs)�� Display at fully day Program, Standies / Banners at all State Conference / Regional

Conference / Regional PCS Conference as may be organized by NIRC. (4 Programs) �� Stall at the venue (5 Programs)�� Delegate fee exemption for 02 delegates in all the whole day seminars organized

by NIRC�� Display of logo at E-mails which will be sent to all Members of the ICSI and other

professional�� Distribution of pamphlet/handouts of the sponsoring organization to the delegates,

if such pamphlets are provided by the sponsoring organization. (5 Programs)�� Name/logo of sponsoring organization will be published in the announcement of

the program in NIRC Newsletter.�� One full page advertisement in NIRC Newsletter. (2 Colour & 1 Black & White)�� Special acknowledgement at the programs organized by NIRC.�� Special acknowledgement for MD & CS at the Annual General Meeting of NIRC of

ICSI

ANNUAL SPONSORSHIP SCHEME-2016 FOR NIRC PROGRAMS

Gold Sponsor - Rs. 2,00,000/- annually �� Logo display at Program Backdrop (5 Programs)

�� Logo display at fully day Program Backdrop of all State Conference / Regional Conference / Regional PCS Conference as may be organized by NIRC. (2 Programs)

�� Display at fully day Program, Standies / Banners at all State Conference / Regional Conference / Regional PCS Conference as may be organized by NIRC. (2 Programs)

�� Stall at the venue (4 Programs)�� Delegate fee exemption for 01 delegates in all the whole day seminars organized

by NIRC.�� Distribution of pamphlet/handouts of the sponsoring organization to the delegates,

if such pamphlets are provided by the sponsoring organization. (4 Programs)�� One full page advertisement in NIRC Newsletter. (1 Colour & 1 Black & White)�� Special acknowledgement at the programs organized by NIRC.�� Special acknowledgement for MD & CS at the Annual General Meeting of NIRC of

ICSI

Silver Sponsor - Rs.1,00,000/- annually �� Logo display at Program Backdrop on alternate month (3 Programs)�� Stall at the venue (3 Programs)�� Distribution of pamphlet/handouts of the sponsoring organization to the delegates,

if such pamphlets are provided by the sponsoring organization. (3 Programs)�� One full page advertisement in NIRC Newsletter. (1 Black & White)�� Special acknowledgement at the programs organized by NIRC.

Web casting Sponsor of program - Rs. 2,00,000/- annually ( 6 Programs )�� Logo display on the screen in all the Chapters of NIRC-ICSI during the web casting

of the programs.�� Logo display at Program Backdrop (6 Programs)�� Stall at the venue (3 Programs)�� Distribution of pamphlet/handouts of the sponsoring organization to the delegates,

if such pamphlets are provided by the sponsoring organization. (3 Programs)�� One full page advertisement in NIRC Newsletter. (1 Colour & 1 Black & White)�� Special acknowledgement at the programs organized by NIRC.�� Special acknowledgement for MD & CS at the Annual General Meeting of NIRC of

ICSI

Sponsorship for Single Program - Rs. 50,000/- �� Logo display at Program Backdrop (1 Programs)�� Stall at the venue (1 Programs)�� Distribution of pamphlet/handouts of the sponsoring organization to the delegates,

if such pamphlets are provided by the sponsoring organization. (1 Programs)�� Special acknowledgement at the programs organized by NIRC.

As you are kindly aware that the NIRC conducts more than 75 Professional Development Programs/Study Groups/Workshops for Members and about 100 Training Programs for Students in a year. Majority of the programs for members are conducted in good hotels/auditoriums with attendance of around 400 members in Professional Development Programs & more than 100 in others. The PDP programs are also live webcasted which are viewed by about 4000 members all over Northern India through our Chapters. In most of the programs organized by NIRC and its Chapters, very nominal participation fee is charged from the members, therefore, in order to partly bear the cost involved in organizing the programs, NIRC has come out with an Annual Sponsorship Scheme-2016. The details and the benefits of the scheme are placed below. Members are requested to kindly consider the above scheme and partly sponsor the NIRC programs for the year 2016.The cheque/demand draft towards sponsorship amount may please be drawn in favour of NIRC-ICSI payable at New Delhi. Members’ this gesture will on the one hand will encourage the Regional Council in holding further Professional Development Programs and on the other hand will give mileage to your organization.NIRC-ICSI eagerly await for a favourable response from the members. For any clarification regarding the Annual Sponsorship Scheme, please feel free to revert to Chairman, NIRC at [email protected].


YUVA Corporate Membership

The NIRC of ICSI has come out with an unique Corporate Membership for Young Members of ICSI. The whole idea behind the scheme was to build the capacity of our young members and to give them a fair chance to attend the seminars of professional interest at a reasonable cost. The scheme is named asYUVA Corporate Membership of NIRC-ICSI.

The YUVA Corporate Membership Scheme for young members of NIRC of ICSI is open for members of the Institute from Northern Region who have awarded the membership on or after 1st January, 2014 is open for the Financial Year 2016-17 (April’16 to March’17). Only First 300 members will be enrolled for the YUVA Corporate Membership Scheme. Anyone becoming a member under the Scheme shall be entitled to the following benefits:

• SeparateProgramswillbeorganisedunderthisSchemeatNIRC - ICSI Auditorium only.

• To attend all the paid programs asmay be organised byNIRC for Young Members by self only (Except workshop and residential programs) at NIRC Auditorium, ICSI-NIRC Building free of charge throughout the financial year 2016-2017.

• Minimum12Programs willbeorganised underthisSchemeon the topic of Professional interest and soft skills.

• Credithourswillbegiventoonlythosememberswhojoinsthe program upto 10.30 a.m.

• Presentationmadebythespeakersofallprogramswillbeshared.

• All other benefits of regular CorporateMembers Scheme,like for the year 2015 members were also given Annual Legal & Compliance Referencer - 2016 and were also invited in New Year Celebration and Dinner free of cost. Further, concessional fee was charged from the corporate members for the State Conferences and other residential programs as organized by the NIRC during the year, will also be extended to the members of this scheme.

The fee structure for the corporate membership for young members for financial year 2016-17 is as under :

Particulars Amount (Inclusive of Service Tax) (Inclusive of Service Tax)(Service Tax Registration No.AAATT1103FSD005)(PAN NO.AAATT1103F)

For Members including PCS

Rs.3,500/-

Your Regional Council has decided that Rs.100/- per member who joins the NIRC Corporate Membership Scheme for the year 2016-17 will be contributed to Company Secretaries Benevolent Fund (CSBF). This is very novel initiative which will considerably help in increasing the corpus of the CSBF.

YUVA Corporate Membership of NIRC-ICSI for Young Members has been released by Mr. Justice D R Deshmukh, Ex-Chairman, Company Law Board on 2nd April, 2016.

The payment for YUVA Corporate Membership can be made through following options :

Option 1 – Cash deposit at NIRC Building, 4 Prasad Nagar Institutional Area, New Delhi

Option 2- NEFT transfer to NIRC- ICSI Saving Bank Account No. SB- 90062010039267

Syndicate Bank, East Patel Nagar, New Delhi – 110008, RTGS/ NEFT IFSC – SYNB0009006

Option 3 Online payment through link :-www.icsi.edu/niro/RegionalCouncil/RegionalCouncilMembers/Home.aspx (Select Option available at S. No. 13)

Option 4 Cheque/DD towards the Corporate Membership Fee for the requisite amount be drawn in favour of “NIRC of the ICSI” and sent to Regional Director, NIRC of ICSI, 4, Prasad Nagar Institutional Area , New Delhi-110005.

Note: Bank and online gateway Charges will be additionally paid by the user and Transaction ID alonghwith details to be mailed [email protected] and [email protected] and CC to [email protected] and [email protected]

For enrolment form, please visit www.icsi.edu/niro

Introduction of YUVA Corporate Membership of NIRC-ICSI for Young Members (enrolled after

1st January, 2014) for the year 2016-17

Compliance Checklist


COMPLIANCE CHECKLIST FROM 10th MAY TO 10th JUNE, 2016

S. No.

Activities Sections/Rules/ Clauses, etc. Acts/Regulations etc. Compliance Due Date

To whom to be submitted

Central Excise Related Compliance

1. Monthly Return of information relating to Principal Inputs (April, 2016) (Form No. ER-6)

Rule 9A CENVAT Credit Rules, 2004

10th May Central Excise Authorities

2. Filing of Return of Central Excise and Cenvat Credit for the month of April, 2016 (Form No. ER-1) (Non SSI Units)

Rule 12 / Rule 9(7) Central Excise Rules, 2002/ CENVAT Credit Rules, 2004


3. Monthly Excise return by EOU for the month of April, 2016 (Form No. ER-2)

Rule 17(3) Central Excise Rules, 2002


4. Last Date for payment of Excise Duty Non SSI units (May) *(in case of Payment through Internet banking)

Rule 8 Central Excise Rules, 2002

05th June*06th June

Central Excise Authorities

5. Monthly Return of information relating to Principal Inputs(May, 2016) (Form No. ER-6)

Rule 9A CENVAT Credit Rules, 2004

10th June Central Excise Authorities

6. Filing of Return of Central Excise and Cenvat Credit for the month of May, 2016 (Form No. ER-1) (Non SSI Units)

Rule 12 / Rule 9(7) Central Excise Rules, 2002/ CENVAT Credit Rules, 2004


7. Monthly Excise return by EOU for the month of May, 2016 (Form No. ER-2)

Rule 17(3) Central Excise Rules, 2002


Service Tax Related Compliances

8. Pay Service Tax in Challan GAR – 7, collected for the month of May 2016 by persons other than individuals proprietors and partnership firms. *(in case of Payment through Internet banking)

Section 68 Read with Rule 6 Finance Act, 1994Service Tax Rules, 1994

05th June*06th June

Service Tax Authorities

Income-tax Related Compliances

9. Quarterly Statement of collection of tax at source (TCS) for the Quarter Ending 31st March.

Section 192 Income-tax Act, 1961 15th May Income Tax Authorities

10. Quarterly TDS return for the period Jan-March, 2016

Section 195 read with rule 37A Income-tax Act, 1961 15th May Income Tax Authorities

11. Quarterly issuance of certificate of tax deducted at source (other than salary) for the quarter ending March 31.




12. Quarterly issuance of Certificate of collection of tax at source (TCS) for the Quarter Ending 31st March.


13. Certificate of tax deducted at source (TDS) to employees in respect of salary paid during the previous financial year

Section 192 Income-tax Act, 1961 31st May Income Tax Authorities

14. Contractor’s Bill / Advertising / Professional service Bill - TDS collected for the previous month Section 194J (May, 2016)

Section 194CSection 194J

Income-tax Act, 1961 07th June Income Tax Authorities

15. Monthly payment of TCS (May, 2016)

Section 206 Income-tax Act, 1961 07th June Income Tax Authorities

16. TDS from Salaries for the previous month (May 2016)


17. Deposit TDS from salaries for the previous month in Challan No.281 (May 2016)


RBI Related Compliances

18. Monthly statement of short term dynamic liquidity in Form ALM-I

DNBS (PD).CC.No.15 /02.01/2000-2001 dated June 27, 2001

Circular 10th May RBI

19. Monthly return (NBS-6) on exposure to capital market

Para 13B NBFC Prudential Norms (Reserve Bank) Directions, 1998

07th June RBI

20. Monthly Return on Important Financial Parameters

DNBS (RID) C.C. No.57/02.05.15/2005-06 datedSep 6, 2005

Circular 07th June RBI

21. Reporting of actual transactions of ECB in form ECB-2 within 7 working days (May)

ECB Rules FEMA, 1999 08th June RBI through Authorized Dealer

22. Monthly statement of short term dynamic liquidity in Form ALM-I

DNBS (PD).CC.No.15 /02.01/2000-2001 dated June 27, 2001

Circular 10th June RBI

23. Monthly payment of Provident Fund (PF) (Non Corporate)

(a) Paragraph 38 of Employees Provident Funds Scheme, 1952(b) Section 418 of the Companies Act, 1956

(a) Employees’ Provident Funds and Misc. Provisions Act, 1952 (b) Exempted Scheme

15th May Provident Fund Authorities Trustees of Provident Fund


NIRC - ICSI Newsletter | May 2016 14Compiled by: CS Abhishek Gupta

24. File monthly return for employees leaving / joining during the month of April(Form No.5)

Pragraph 20(2) read with Paragraph 36(1) & (2)

The Employees Pension Scheme, 1995 (For exempted establishments under Employees Provident Fund and Misc. Provisions Act, 1952)

15th May Provident FundCommissioner

25. i)� File monthly Return of employees entitled for membership of Insurance Fund (Form No.2(IF))

ii)� File monthly Return for members of Insurance Fund leaving service during the month of April (Form no. 3(IF))

iii)�File monthly return of members joining service during the month of April (Form no.F4(PS))

Paragraph 10 The Employees Deposit Linked Insurance Scheme,1976 (For exempted establishments under Employees Provident Fund and Misc. Provisions Act, 1952)

15th May Provident FundCommissioner

26. Payment of ESI contribution for the previous month

Regulation 31 Employees’ State Insurance Act, 1948 andEmployees State Insurance (Gen.) Regulations, 1950

21st May ESIC Authorities

27. Monthly return of Provident Fund for the previous month (April) Provident funds

Paragraph 38 of Employees’ Provident Act, 1952

Employees Provident Funds and Misc. Scheme, 1952

25th May Provident Fund Authorities

28. Monthly return of Provident Fund for the previous month with respect to International Workers.

Paragraph 36 The Employees' Provident Funds Scheme, 1952

25th May Provident Fund Authorities

Stock Exchange / Listing Compliance

29. Submission of unaudited financial results

Clause 33(3)(a to c)

SEBI (Listing Obligations and Disclosure Requirements) Rules, 2015

15th May Stock Exchange

30. Submission of Audited Financial Results

Clause 33(3)(a to f )

SEBI (Listing Obligations and Disclosure Requirements) Rules, 2015

30th May Stock Exchange

31. Submit monthly statement on substitution of names of depositories in the previous quarter.

Regulation 54(5) SEBI (Depositories & Participants) Regulations, 1996

07th June Depositories

Note : While every care has been taken in the preparation of this Compliance Check List for the Month of May, 2016, to ensure its accuracy at the time of publication, NIRC – ICSI assumes no responsibility for any errors which despite all precautions, may be found therein. Members are requested to check the latest position with the original sources before acting upon on the information published in this newsletter. Neither this Newsletter nor the information contained herein constitutes a contract or will form the basis of a contract. The material contained in this document does not constitute/ substitute professional advice that may be required before acting on any matter.


Forthcoming Programs

FORTHCOMING PROGRAMS OF NIRC-ICSIDay & Date Program Topic Venue Timings Credit

HoursFees

Monday

16-05-2016

Women Empowerment Series

Nurturing Parenting

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

5:00 pm to 7.30 p.m.

2 Free for Members and their Spouse

Fri. & Sat.

20-21.5.2016

Regional Residential Conference on the theme “CS-Precision & Performance”

Infinity Resort, Jim Corbett National Park, Uttarakhand

1 p.m. onwards

8 Rs.8250/- for residential & Rs.2000/- for Non-residential; For Corporate Members of Delhi & Chapters – Rs.6,750/-(Residential) and Rs.2,000/- (Non-residential)

Monday,

23-05-2016

Empowerment Series

Opportunities under GST

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

5:30 pm 2 Free

Saturday

28-05-2016

One Day Workshop ICSI-NIRC Building, 4, Prasad Nagar Institutional Area, New Delhi

10:00 am to 5.00 p.m.

4 Rs. 500/- per Member including Corporate Members

For details visit: www.icsi.edu/niro


News From NIRC

NIRC organised the following programs:

Date Program Chief Guest/speakers Present02.04.2016 Inauguration of 234th MSOP at Lucknow CS Geetika Keswani, CS Anuj Tiwari, CS Amit

Gupta and participants04.04.2016 Inauguration of 235th MSOP at Udaipur CS S N Maheshwari, CS Pawan Talesara and

participants 8.04.2016 Delhi-RO & Regional Round of the 16th All

India Company Law Quiz CS Vishhal Arora & CS Vishal L Aggarwal – Judged & CS Himanshu Harbola – Quiz Master

CS Manish Gupta and CS Alka Arora and participants

11.04.2016 Campus Placement for 232nd & 233rd MSOP participants

CS Manish Gupta, CS Pradeep Debnath, CS Alka Arora & participants

11.04.2016 Women Empowerment Session on The Sexual Harassment of Women at Workplace (Prevention, Prohibition & Redressal) Act, 2013

CS Monika Mehndiratta Gupta, Director- Sr Group Legal Counsel and Company Secretary, Ericsson

CS Manish Gupta, CS Pradeep Debnath, CS Monika Kohli, CS Alka Arora and members

12.04.2016 Valedictory Function of 232nd & 233rd MSOP

Special Guests:CA Rajesh Sharma, Council Member-ICSI (Govt. Nominee) and CS Ashok Kinra, Company Secretary, CCIC of India Ltd.

CS Manish Gupta, CS Pradeep Debnath, CS Nitesh Sinha, CS Alka Arora and participants

13.04.2016 Professional Development Program for students

CS Anupam Jha and CS Govind Mishra Students of the Institute

15.04.2016 Program on Corporate Governance - Business Ethics & Culture Changes

Key Note Speaker: CS Ashok Haldia, CEO & Managing Director, PTC India Financial Services Ltd.Guest Speakers: CS Rajiv Bajaj, Council Member-ICSI; CS (Dr.) S K Gupta, Vice President – Internal Audit and Company Secretary, Spentex Industries Ltd. and CS B Murli, Senior Vice President – Legal& Company Secretary, Nestle India Limited

CS Manish Gupta, CS Ranjeet Pandey, CS Dhananjay Shukla, CS Pradeep Debnath, CS Monika Kohli, CS Nitesh Sinha, CS Alka Arora and participants

16.04.2016 Professional Development Program for students

CS Gaurav Arora Students of the Institute

16.04.2016 Valedictory Function of 234th MSOP at Lucknow

GUEST OF HONOUR:Mrs. Lalita Pradeep

CS Manish Gupta, CS Ranjeet Pandey, CS Amit Gupta, CS Geetika Keswani, CS Anuj Tiwari and participants

16.04.2016 Program on Whirlwind Plenary on Evangelizing the International Corporate Governance Day

CS R. K. Khurana CS Alka Arora and participants

18.04.2016 Inauguration of 236th MSOP CS Manish Gupta, CS Nitesh Sinha, CS Alka Arora and participants

18.04.2016 Meeting of Company Secretaries in Practice on Threats & Solutions - Cyber Laws

CS Anuj Agarwal (Cyber Laws Expert) CS Manish Gupta, CS Pradeep Debnath, CS Nitesh Sinha, CS Alka Arora and participants

19.04.2016 Valedictory Function of 235th MSOP at Udaipur

CS Manish Gupta (Chairman, NIRC) and CS Deepak Arora (Chairman, MSOP Committee & Regional Council Member, NIRC)

CS S. N. Maheshwari, CS Pawan Talesara, CS Rajeev Babel, CS Vivek Mehta, CS Rajendra Pandwal and participants

21.04.2016 Inauguration of 237th MSOP CS Tilak Sethi CS Pradeep Debnath, CS Nitesh Sinha, CS Alka Arora and participants

22.04.2016 Celebration of ‘Earth Day’ by plantation of sapling

CS Ajay Garg CS Alka Arora, officials of NIRC & Students

22.04.2016 Study Session on NCLT Shri Hemant Sharma, Principal Associate, DHIR & DHIR ASSOCIATES and Shri Sumit Garg, Senior Associates, DMD Advocates

CS Pradeep Debnath, CS Prince Kumar and participants

NIRC ACTIVITIES


News From NIRC

COMPANY SECRETARIES BENEVOLENT FUNDMEMBERS ENROLLED FROM NIRC AS LIFE MEMBERS OF THE COMPANY SECRETARIES BENEVOLENT

FUND DURING THE PERIOD 21/03/2016 TO 21/04/2016Sr. No. LM NO. NAME MEMB NUMBER CITY

1 11217 CS JAI PARKASH ACS - 24498 GURGAON

2 11218 CS SUSHIL KUMAR JETHLIA ACS - 30865 BEAWAR

3 11219 CS KRISHNA MURARI JETHLIA ACS - 24965 AJMER DISTT

3 11221 CS CHIRAG BANGA ACS - 43426 DELHI

4 11222 CS ASTIK MANI TRIPATHI ACS - 27667 NEW DELHI

5 11223 CS NEHA SETH ACS - 25235 NEW DELHI

6 11224 CS PRAKASH VERMA ACS - 31801 DELHI

7 11225 CS SACHIN KUMAR SRIVASTAVA ACS - 44270 FAIZABAD

8 11227 CS ABHISHEK MISHRA ACS - 33200 ALLAHABAD

9 11228 CS SANJIVA GUPTA ACS - 44330 MIRZAPUR

10 11232 CS LOKESH BOTHRA ACS - 38792 NEW DELHI

11 11233 CS AMITA VERMA ACS - 26904 FARIDABAD

12 11234 CS ANANT KUMAR SINGH FCS - 7522 DELHI

13 11236 CS VIVEK GUPTA ACS - 29543 DELHI

14 11238 CS SUSHIL KUMAR SHARMA ACS - 30161 BHIWADI

15 11239 CS DEVESH AGARWAL ACS - 37082 NEW DELHI

16 11240 CS RAKESH CHAWLA ACS - 43349 NEW DELHI

17 11241 CS SUMIT CHANDHOK ACS - 30449 NEW DELHI

18 11244 CS RANI SUROLIA FCS - 4017 DELHI

19 11247 CS VITENDER KUMAR ACS - 44344 NEW DELHI

20 11248 CS VAIBHAV SRIVASTAVA ACS - 44335 DELHI

21 11250 CS SHABNAM KAPOOR FCS - 4258 DELHI

22 11252 CS ASHUTOSH TRIPATHI ACS - 28585 KANPUR

23 11254 CS ASHISH SINGHAL ACS - 32613 GHAZIABAD

24 11257 CS DIVYA SINGH ACS - 32268 BEAWAR

25 11259 CS AMARENDRA KUMAR RAI ACS - 21745 NOIDA

26 11260 CS ANCHAL TALWAR FCS - 8562 FARIDABAD

27 11263 CS VINAY KUMAR SINGHAL ACS - 44560 MODINAGAR

28 11265 CS ANKITA JAIN ACS - 33141 NEW DELHI

23.04.2016 UP State Conference on “CS - Spectrum of Opportunities”

Mr. Ruvit Kumar, Deputy ROC, Kanpur, CS Ranjeet Pandey, CS Pavan Kumar Vijay and CS Bimal Jain

CS Manish Gupta, CS Pradeep Debnath, CS Nitesh Sinha, CS Monika Kohli, CS Vaibhav Shukla, CS Kaushal Saxena, CS Vaibhav Gupta, CS Sameer Shukla CS Gopesh Sahu, CS Ankur Srivastava, CS Saurabh Gupta, members and students

24.04.2016 Seminar on NCLT-Emerging Scope of Judiciary organised by Allahabad Chapter

CS Rajender Kumar (Asst. Official Liquidator) and CS Ranjeet Pandey (Council Member, ICSI)

CS Manish Gupta, CS Pradeep Debnath, CS Nitesh Kumar Sinha,CS Shambhuvesh Dhar Tripathi,CS Abhishek Mishra,CS Manish Kumar Agrahari,CS Himanshu Srivastava, members and students

30.04.2016 One Day Workshop on Practical aspects of Handling Board Meetings & General Meetings (Covering SS-I & SS-2)

Guest Speakers: CS Ilam Kamboj, Member of Secretarial Standards Board (SSB) & Company Secretary in Practice and CS Ranjeet Pandey, Council Member-ICSI & Member of Secretarial Standards Board (SSB)

CS Manish Gupta, CS Nitesh Sinha and members


CORPORATE MEMBERSHIP OF NIRC-ICSI FOR THE YEAR 2016-17

The fee structure for the corporate embership for financial year 2016-17 is as

under:Particulars Amount (Inclusive of Service Tax)

(Inclusive of Service Tax) (Service Tax Registration No.AAATT1103FSD005)

(PAN NO.AAATT1103F)For Members Rs. 10,000For PCS Rs. 9,400For Non-Members Rs. 11,100For Senior Citizens Rs. 8,300

The fee structure for the corporate embership for financial year 2016-17 is as

under:Particulars Amount (Inclusive of Service Tax)

(Inclusive of Service Tax) (Service Tax Registration No.AAATT1103FSD005)

(PAN NO.AAATT1103F)For Members Rs.13,000For PCS Rs.12,400For Non-Members Rs.14,100For Senior Citizens Rs.11,300

The Corporate Members for the year 2015 were also given Annual Legal & Compliance Referencer - 2016 and were also invited in New Year Celebration and Dinner free of cost. Further, concessional fee was charged from the corporate members for the State Conferences and other residential programs as organized by the NIRC during the year.Your Regional Council has decided that Rs.100/- per member who joins the NIRC Corporate Membership Scheme for the year 2016-17 will be contributed to Company Secretaries Benevolent Fund (CSBF). This is very novel initiative which will considerably help in increasing the corpus of the CSBF.The payment for Corporate Membership can be made through following options:Option 1 – Cash deposit at NIRC Building, 4 Prasad Nagar Institutional Area, New DelhiOption 2- NEFT transfer to NIRC- ICSI Saving Bank Account No. SB- 90062010039267Syndicate Bank, East Patel Nagar, New Delhi – 110008, RTGS/ NEFT IFSC – SYNB0009006Option 3 Online payment through link :-www.icsi.edu/niro/RegionalCouncil/RegionalCouncilMembers/Home.aspxOption 4 Cheque/DD towards the Corporate Membership Fee for the requisite amount be drawn in favour of “NIRC of the ICSI” and sent to Regional Director, NIRC of ICSI, 4, Prasad Nagar Institutional Area , New Delhi-110005.Note: Bank and online gateway Charges will be additionally paid by the user and Transaction ID alonghwith details to be mailed to [email protected] and [email protected] and CC to [email protected]

Corporate Membership Scheme – Option-I (Delhi)�� To attend all the paid programs (Except workshop and residential

programs) organized by NIRC at Delhi free of charge throughout the financial year 2016-2017.

�� Minimum 12 Program will be organised under this Scheme.�� The member may depute any other officer only from his/her

organization with the authorization on letter head of the Company, certifying that the nominated person is from his/her organization.

�� The individual member/PCS may depute only his partner, employee from his/her Firm with the authorization on letter head, certifying that the nominated person is from his/her Firm.

�� Credit hours will be given to only those members who joins the program upto 11.00 a.m.

�� PDP hours will be given to only those students who pay the participation fee.

�� Presentation made by the speakers of all programs will be shared.�� Minimum 12 Program at Delhi & all programs organised by the

participating Chapters will be covered under this Scheme.�� The member may depute any other officer only from his/her

organization with the authorization on letter head of the Company,

Corporate Membership Scheme –Option-II (Delhi & Chapters)�� To attend all the paid programs (Except workshop and residential

programs) organized by NIRC & its participating Chapters at any location throughout Northern Region free of charge throughout the financial year 2016-2017.

�� Minimum 12 Program at Delhi & all programs organised by the participating Chapters will be covered under this Scheme.

�� The member may depute any other officer only from his/her organization with the authorization on letter head of the Company, certifying that the nominated person is from his/her organization for all the programs to be held in Delhi (Not applicable for programs organised by the participating chapters).

�� The individual member/PCS may depute only his partner, employee from his/her Firm with the authorization on letter head, certifying that the nominated person is from his/her Firm for all the programs to be held in Delhi (Not applicable for programs organised by the participating chapters).

�� Credit hours will be given to only those members who joins the program upto 11.00 a.m.

�� PDP hours will be given to only those students who pay the participation fee.

�� Presentation made by the speakers of all programs will be shared

The Corporate Membership Scheme of NIRC of ICSI is open for the Financial Year 2016-17 (April’16 to March’17). Anyone becoming a member under the Scheme shall be entitled to the following benefits:

Corporate Membership


Lighter Side of the profession

“Is Paramjeet Singh a great Union Leader?”“No Sir.”“Then how come he has got so many followers?”“Because during his tenure as a HRD manager, he had done lot of Overstaffing.” ****************** “Sir, I have many grievances against this new Executive Director.”“Better leave the job than to suffer in silence.”“Then what should I do?”“You may moan, beg, whimper and complain but never suffer in silence.”

—CS PARAMJEET SINGH, [email protected]

Members may send their contribution for this column at e-mail [email protected] for publication in the NIRC Newsletter-Insight.

Decision of the Editorial Board of Newsletter in this regard will be final

LIGHTER SIDE OF THE PROFESSION

ATTENTION MEMBERS /STUDENTS

The details of Members Programs like Seminar, Conferences, etc. and soft copies of NIRC-ICSI Newsletters & Students’ programs viz EDP, PDP, MSOP, Students Activities, such as viz Moot Court Competitions, Elocution Competition, Essay writing, Company Law Quiz and Student Conferences are regularly updated on the NIRC Portal at ICSI website.To get updated information, Members & Students are requested to visit our following website regularly.

www.icsi.edu/niro

INVITATION FOR CONTRIBUTION OF ARTICLES & SUGGESTIONS

FOR IMPROVEMENT OF CONTENTS OF

NIRC NEWSLETTER NIRC of ICSI invites Articles from Members for publication in the NIRC Newsletter. Members are also requested to forward their comments/suggestions for further improvement of contents of Newsletter. Members may send the soft copy of their article and profile to NIRC by email to [email protected] for consideration by the Editorial Board.

CHAPTERS OF NIRC-ICSIAgra, Ajmer, Allahabad, Alwar, Amritsar, Bareilly, Bhilwara, Bikaner, Chandigarh, Dehradun, Faridabad, Ghaziabad, Gurgaon, Jaipur, Jalandhar, Jammu, Jodhpur, Kanpur, Karnal-Panipat, Kota, Lucknow, Ludhiana, Meerut, Modinagar, Noida, Shimla, Sonepat, Srinagar, Udaipur, Varanasi & Yamuna Nagar.


CSBF

CS MANISH GUPTAChairman09212221110


NIRC IN MEDIA


Forthcoming Program

(HOST: BAREILLY CHAPTER)

Regional Residential Conference on the Theme:

CS - Precision & Performance Coverage :

Ease of doing Business NCLT & NCLAT Companies Amendment Bill

Power of Performance & Influence Day, Date & Time:

May 20-21, 2016 – 1.00 PM onwards (Friday and Saturday)

Venue: INFINITY RESORT, JIM CORBETT

Dist. Ramnagar, Dhikuli, Uttarakhand- 244715 Delegate Fees (inclusive of Service Tax):

Conference Fee (Without Stay Arrangements)

Conference Fee WITH Stay Arrangements (Twin Sharing/Per Person)

Members, Students & Spouses, including Corporate Members

Rs. 2,000/-*

Corporate Members of NIRC - ICSI (Delhi & Chapters) (Self) :

Rs. 500/-*

Members, Students, Spouses & Children above 12 years including Corporate Members

Rs. 8,250/-*

Corporate Members of NIRC - ICSI (Delhi & Chapters) (Self)

Rs. 6,750/-*

Children from 6 to 12 years (Without Bed) Rs. 2,000/-*

*The delegate registration fee will cover the cost of tea and lunch (Friday & Saturday, May 20-21, 2016). The delegate registration fee (either with stay or without stay) also includes the cost of Dinner on May 20, 2016. The delegate registration fee once paid is non-refundable but the same can be transferred in favour of any other member of the ICSI. Cheque of the aforesaid amount is to be issued in favour of "NIRC of ICSI" towards Conference fees & stay arrangement. The residential delegates will also get breakfast on 21st & 22nd May, 2016 and Dinner on 21st May, 2016. Accommodation is available on ‘first come first serve’ basis. The delegate fee once paid shall not be refunded as the arrangements shall be made by making the payments. POOL YOUR CARS : AS THE DESTINATION IS JUST 250 KM FROM DELHI, WE WOULD REQUEST MEMBERS TO POOL THEIR CARS WITH THE MEMBERS WHO ARE WILLING TO JOIN THE PROGRAM. COST CAN BE SHARED ON MUTUAL UNDERSTANDING. REGISTRATION FOR CAR POOL ARRANGEMENTS FOR BOTH CASES CAN BE MADE AT [email protected]

*LIMITED ACCOMMODATION AVAILABLE, REGISTRATION ON FIRST-COME-FIRST SERVED BASIS. Transport : NIRC will make travel arrangements Delhi-Jim Corbett-Delhi by Tempo Traveller/Bus, charges for the same will be

Rs.1,500/- per head. IN ORDER TO MAKE NECESSARY ARRANGEMENTS, MEMBERS ARE REQUESTED TO ENROLL WELL IN ADVANCE, EVEN IF THEY DO NOT REQUIRE ACCOMMODATION WITH Regional Director, NIRC-ICSI, 4, Prasad Nagar Institutional Area, New Delhi. Tel.:+91-11-49343003, Fax: 25722662; E-mail: [email protected]

With regards, CS Manish Gupta Chairman, NIRC Mobile: 09212221110 E-mail: [email protected]

CS Pradeep Debnath Secretary, NIRC & Program Director Mobile: 9910562121 E-mail: [email protected]

CS Nitesh Sinha Chairman, Prof. Dev. & Programs Coordination Committee, NIRC Mobile: 9871500827 E-mail: [email protected]

CS Sagar Agarwal Chairman, Bareilly Chapter of NIRC & Program Coordinator Mobile: 09235632644 E-mail:[email protected]


Images

2 Valedictory Function of 237th MSOP (21.4.2016): Group photograph of participants alongwith CS Manish Gupta, CS Deepak Arora, CS S.N. Maheshwari, CS Pawan Talesara and participants

4 Valedictory Function of 234th MSOP at Lucknow( 16.04.2016): Group participants of participants alongwith CS Manish Gupta and CS Ranjeet Pandey.

1 Valedictory Function of 232nd & 233rd MSOP (12.4.2016): Group photograph of participants alongwith CA Rajesh Sharma (Council Member, ICSI, Govt. Nominee – Special Guest), CS Manish Gupta, CS Pradeep Debnath, and CS Nitesh Sinha

3 Inauguration of 237th MSOP (21.04.2016): Group photograph of participants alongwith CS Tilak Sethi, CS Pradeep Debnath, CS Nitesh Sinha, Ms. Beena and participants

5 Inauguration of 236th MSOP (18.04.2016): Group photograph of participants alongwith CS Manish Gupta, CS Nitesh Sinha, CS Alka Arora, Dr. Bhole Shankar Sikhwal and participants

1

2 3

4 5

Congratulations


3 Women Empowerment Session on The Sexual Harassment of Women at Workplace (Prevention, Prohibition & Redressal) Act, 2013 (11.04.2016): L to R CS Monika Kohli, CS Manish Gupta, CS Monika Mehndiratta Gupta (Director- Sr Group Legal Counsel and Company Secretary, Ericsson) and CS Pradeep Debnath

1 One Day Workshop on Practical aspects of Handling Board Meetings & General Meetings (Covering SS-I & SS-2) - 30.4.2016: CS Ranjeet Pandey, Council Member-ICSI & Member of Secretarial Standards Board (SSB) addressing. Others sitting from L to R CS Nitesh Sinha, CS Ilam Kamboj, (Member of Secretarial Standards Board (SSB) & Company Secretary in Practice) and CS Manish Gupta.

2 Study Session on NCLT(22.4.2016): L to R - Shri Sumit Garg, Senior Associates, DMD Advocates, CS Pradeep Debnath and Shri Hemant Sharma, Principal Associate, DHIR & DHIR ASSOCIATES.

4 Meeting of Company Secretaries in Practice on Threats & Solutions - Cyber Laws (18.4.2016): L to R CS Pradeep Debnath, CS Manish Gupta, CS Anuj Agarwal (Cyber Laws Expert) and CS Nitesh Sinha.

6 Celebration of Earth Day (22.4.2016) Group photograph of participants, officials of NIRC alongwith CS Ajay Garg and CS Alka Arora

16-17.05.201612.05.2016

3

5

4

6

1 2

5 Program on Whirlwind Plenary on Evangelizing the International Corporate Governance Day (16.04.2016): CS R. K. Khurana, CS Alka Arora & others releasing balloons.

Documents

Monthly • Volume XXXV • Page 1-24 • No.05 • May, 2016 ... Newsletter-May2016.pdf · Gupta (Vice President – Internal Audit and Company Secretary, Spentex Industries Ltd.)