This Gazette may contains Multiple Subjects

REGISTERED NO. DL-33001/99

The Gazette of India

PUBLISHED BY AUTHORITY

No. 39] NEW DELHI, SATURDAY, SEPTEMBER 25, 1999 (ASVINA 3, 1921)

(Separatepagingisgivento this Part in order that may be filed as a separate compilation)

[PART III—SECTION 4]

[Miscellaneous Notifications including Notifications, Orders, Advertisements and

Notices issued by Statutory Bodies]

1—259 Gl/99

(3161)

318B

BIOS

5-259 GI/99

9-259 GI/99

11- 259 GI/99

12- 259 GI/99

Selection- cum-

Seniority

SCHEDULE-l

SCHEDULE-I

SCHEDULE-I

SCHEDULE-I

Sl.No.

SCHEDULE-I

2/1959/DLI/Exem/89/Pt. I

SCHEDULE-I

SCHEDULE-II

1. The employer in relation to each of the said establish-

ments (hereinafter referred to as the employer) shall submit

such returns to the Regional Provident Fund Commissioner

concerned and maintain such account and provide such faci-

lities for Inspection, as the Central Provident Fund Commis-

sioner may direct from time to time.

2. The employer shall pay such inspection charges as the

Central Govt. may, from time to time, direct under clause (a)

sub-Section (2A) of Section 17 of the said Act, within 15

days from the close of every month.

J. All expenses involved in the administration of the Group

Insurance Scheme, including maintenance of accounts, submis-

sion of returns, payment of insurance" premia, transfer

of accounts, payment of inspection charges etc. shall be borne

by the employer.

4. The employer shall display on the Notice Board of the

establishment, copy of the rules of the Group Insurance

Scheme as approved by the Central Government /Central

Provident Fund Commissioner as and when amended along-

with translation of the salient features thereof in the langu-

age of the majority of the employees,

A. K. IAIN

Regional Provident Fund Commissioner

The 25th August 1999

5. Whereas an employee, who is already a member of the

Employees' Provident Fund or the Provident Fund of an

establishment exempted under the said Act. is employed in

his establishment the employer shall immediately admit him

as a member of the Group Insurance Scheme and pay

necessary premium in aspect of him to Life Insurance Cor-

poration of India.

No. 2/1959/PLI/Exemp./89/Ptl/4023.—WHEREAS the

the employers of the establishments mentioned in Schedule-

I (hereinafter referred to as the said establishment) have

applied for exemption under Sub-Section 2(A) of

17 of the Employees' Provident Fund ft Miscellaneous Pro-

visions Act, 1952 (19 of 1952) (hereinafter referred to as

the said Act).

6. The employer shall arrange to enhance the benefits

available to the employees under the Group Insurance Scheme

appropriately if the benefits available to the employees under

the said Scheme are enhanced so that the benefits available

under the Group Insurance Scheme are more favourable to

the employees than the benefits admissible under the said

Scheme.

And whereas the Central Provident Fund Commissioner

is satisfied that the employees of the said establishments are,

without making any separate contribution or payment ,of

premium in enjoyment of benefits under the Group Insurance

Scheme of the Life Insurance Corporation of India in the

nature of Life Insurance which are more favourable to such

employees than the benefits admissible under the Employees'

Deposit Linked Insurance Scheme, 1976 (hereinafter regerred

to as the said Scheme).

7. Notwithstanding anything contained in the Group

Insurance Scheme, if on the death of an employee the amount

payable under the Scheme be less than the amount that

would be payable had the employee been covered under the

said Scheme the employer shall pay the difference to the

nominee (s) / Legal heir(s) of the Employee as compensa-

tion.

8. No amendment of the provisions of the Group Insurance

Scheme shall be made without the prior approval of the

Regional Provident Fund Commissioner concerned and where

any amendment is likely to effect adversely the interest of

the employees his approval, give a reasonable opportu-

nity to the employee to explain point of view.

Now, therefore, in exercise of the powers conferred by sub-

section 2(A) of Section 17 of the said Act in continuation

of Govt, of India, the Ministry of Labour / C.P.F.C. Notifica--

tion No. and date shown against the name of each of the

said establishments from the conditions specified in Schedule

II annxed hereto the Central Provident Fund Commission

hereby exempt each of the said establishment from the opera-

tion of all the provisions of the said scheme a further period

of 3 years as Indicated in attached Schedule-I against their

names.

9. Therefore, any reason, the employer of the said estab-

lishment do not remain covered under the Group Insurance

SCHEDULE-I

S.l.

Notification vide which

Exemption was granted/

extended

AP/6057

29-2-96

2/1959/ DLT/Exem/89/Part-II

l-3-96 to

28-2-99

&

1-3-99 to

28-2-2002

30-6-95

AP/4502

10-4-94

1-7-95 to

30-6-98

&

1-7-98 to

30-6-2001

PRESIDENT

VICE PRESIDENT

PERIOD

ShrI S.P. Chhajed, FCA

ShrI G. Sltharaman, FCA

SECRETARY : Shri Ashok Haldia

MEMBERS OP THE COUNCIL

AUDITORS

50TH ANNUAL REPORT

1. THE COUNCIL

2. COMMITTEES OF THE COUNCIL

3. AUDITORS

4. STANDING COMMITTEES

4.1 Executive Committee

4.Z Examination Committee

4.3 Disciplinary Committee

5A. RESEARCH AND PROFESSIONAL DEVELOPMENT

5.1 Accounting Standards

5.2 Auditing Standards

5.3 Research

5.4 Corporate Laws

5.5 Fiscal taws

5.6 Financial Markets

5.7 Export Opinions

5.8 Continuing Professional Education

5.9 Professional Davelopment

5.10 Campus Interviews

21-259 GI/99

SB. ACCOUNTING RESEARCH FOUNDATION

6. INTERNATIONAL INITIATIVES

7. . VISION AND RESTRUCTURING

8. GOLDEN JUBILEE CELEBRATIONS

9. OTHER ACTIVITIES

9.1 Administration and Human Resource Development

9.2 Use of Information Technology in Member's and Student's Services

9.4 Education and Training - CRET's Recommendations

9.5 All India Conference of Chartered Accountants

10. OTHER MATTERS

10.1 Annual Function of The Institute

10.2 Amendments in The Chartered Accountants Act, 1949 and The Chartered

Accountants Regulations, 1988

A. Amendments In the Chartered Accountants Act, 1949

B. Amendments in the Chartered Accountants Regulations, 1988

10.3 Central Council Library

10.4 Journal

1 1. MEMBERS

11.1 Membership

Statistics of Members As On 1.4.1999

Category of Members

Fellows

(2)

Associates

(i)

Total of Columns

(1) & (2)

1. In full-time practice

2. In part-time practice

3. Not in practice

48280

Total

41311

89591*

11.2 Deceased Members

11.3 Chartered Accountants Benevolent Fund

12. STUDENTS

1998-99

12.2 Students' Newsletter

12.3 Branches of Chartered Accountants Students' Associations

12.4 S. Vaidyanath Alyar Memorial Fund

12.5 Recognition of CA Course

13. REGIONAL COUNCILS AND THEIR BRANCHES

13.2 Branch Building

13.3 Revolving Shield

13.4 New Decentralised Offices

14. FINANCE AND ACCOUNTS

15. APPRECIATION

STATISTICS OF MEMBERS (FROM 1.4.1994)

As on

1.4.1997

As on

1.4.1999

As on

1 4.1998

STATISTICS OF MEMBERS (FROM 1.4.1951)

TABLE II

4.1991

1.4.1961

1.4.1971

1.4.1981

STUDENTS REGISTRATION GROWTH PROFILE (FROM 31.3.1994)

31.3.1994

31.3.1995

31.3.1997

31.3.1998

31.3.1996

31.3.1999

APPENDICES TO THE ANNUAL REPORT

APPENDIX I

(Ref. Para 2 of the Report)

Composition of the Standing, Adhoc/Special Purpose and Non-Standing

Committees for the year 1999-2000

A. STANDING COMMITTEES

Executive Committee

Examination Committee

Disciplinary Committee

B. AD-HOC/SPECIAL PURPOSE COMMITTEES

Committee on vision and Restructuring

Committee for Golden Jubilee Celebrations

Committee on Electoral Reforms

C. NON-STANDING COMMITTEES

Auditing Practices Committee

Corporate Laws Committee

23-259 GI/99

Board of Studies

University & Higher Secondary Boards Liaison Committee

Professional Development Committee

Public Relations Committee

Research Committee

International Affairs Committee

ICAI-ICWAI-ICSI Coordination Committee

Editorial Board

Committee on Financial Markets and Investors' Protection

National Academy Committee *

D. OTHERS

15th All India Conference Committee

ICAI - Accounting Research Foundation (ARF) - Composition

APPENDIX II

(Ref. Para 4.2.3 of the Report)

Statistics of Students Appeared and Passed in the

Examinations of the Institute held in 1998

INTERMEDIATE AND FINAL EXAMINATIONS - 1998

FINAL

GROUP / UNIT INTERMEDIATE

GROUP/ UNIT

No. of Centres

NOVEMBER

65

Foundation Examination - 1 9 98

No. of candidates

declared successful

No. of candidates

appeared

Months and year

of examination

No. of

centres

APPENDIX I II

(Ref. Para 4.2.4 of the Report)

Names of Prize winners in the Institute's Examinations held In

May and November 1998

FINAL EXAMINATION

24-259 GI/99

INTERMEDIATE EXAMINATION

November, 1998

examination

(4)

May, 1008

Examination

(!)

Name of the

Prize

(1)

the G.P. Kapadia

Shri KALAKONDA

Best student

First President

: Prize

RollNo.37831.

The. J.S, Lodha

Gold Medal

Second best

student

The Shailesh

Kapadia Award

Best lady

candidate

The Sureshan

Kumar Balesaria

Memorial Prize

Prof. T.S. Grewal

Award

Best paper on

Advanced

Accounting

(Paper 1)

Shri SUMIT KUMAR

SANGHAI,

Roll No.22871.

Ms. ANUPAMA TANEJA,

Roll No 32265

(399 marks out of 600).

Shri PANKAJ MASKAKA,

Roll No 21198 Jointly

With

Shri LAKSHMI KANT,

Roll No.24051

(81 marks out of 100)

The Dinesh

Himatial Shah.

Shri SACHIN JAIN

ROLL NO. 1691 jointly

Best paper on ,

Auditing

(Paper 2)

prize and the

K.C. Khanna prize

Best paper on

The Suresh C

Mathur Prize

Corporate and

Other Laws

(Paper 3)

FOUNDATION EXAMINATION

November, 1998 Examination '

May,

1998 Examination

RANK

Roll No.

Basis

Name of the

Prize

November, -98

Examination

(4)

May, 1998

Examination

( 3)

APPENDIX IV

(Ref. Para 4.3 of the Report)

Statistics of cases placed before the Council and the Disciplinary

Committee during the period from 1* April, 1998 to 3 1* March, 1999

APPENDIX V

(Ref. Para 5.12 of the Report)

Resume of Important Activities of Certain Non-Standing Committees.

1. ACCOUNTING STANDARDS BOARD

2. AUDITING PRACTICES COMMITTEE

with Regard to NBFCs Auditor's Report Directions, 1998.

3. RESERCH COMMITTEE

3.1 Projects under finalisation:

• Revised Guidance Note on Audit of Accounts of Members of Stock

Exchanges.

• Guidance Note on accounting for Set-Off available under the Sales Tax

Laws of certain States and Value Added Tax.

• Study on Concurrent Audit in Banks.

• Accounting for Mutual Funds and Computation of NAV.

• Accounting for Software- (Producers and Users) Industry. :

• Accounting in Film Industry.

• impact of information Technology on Financial Accounting with

Specialreferencetoimplications of SAP Environment.

• GuidelinesonInternalAudit-Travel Service Business.

emphasis on Management Audit).

• Revision of Technical Guide for Audit of Co-operative Societies.

• Guidelines on internal Audit-Steel Industry.

• Guidelines on Internal Audit-Excise Records.

• Comparison of Indian Accounting Standards and US GAAPs.

3,3 Proposed projects:

• Accounting for Forestries.

• Accounting and Auditing Technical Guide: Drugs & Pharmaceuticals

Industry.

• Accounting & Auditing for (a) Construction of Roads, and (b) Operation of

Toll Roads.

Acquaculture /Pisciculture / Marine Culture.

• Technical Guide on Accounting and Audit in Video Film Production

Programs,

• Glossary of Emerging Terns In the Financial Sector,

• Role of Chartered Accountants as advisors to the Issues (as Merchant

Bankers, Category IV).

• Introduction of Commercial Accounting In Municipal Corporations.

• Foreign Currency Exposure Risk Management.

• Interim Financial Reporting - A Comparative Study of USA, UK, France

and India.

3,4 Results of the Shield Panel

The Panel of Judges constituted by the Institute adjudged the Annual Report

and Accounts of entities in different categories viz. Public Sector/Joint Sector

Companies, Non-Financial Statutory Corporations, Non-Financial Private Sector

Companies, Banks and Financial Institutions, Public Trusts, Cooperative Societies,

Research & Educational Institutions etc. for the year 1997-98 and decided to give

away awards, as detailed hereunder:

Award

Name of the Entity

Non-Financial Private Sector

Company

4. CORPORATE LAWS COMMITTEE

25-253 GI/99

5. FISCAL LAWS COMMITTEE

6. COMMITTEE ON FINANCIAL MARKETS AND INVESTORS' PROTECTION

7. EXPERT ADVISORY COMMITTEE

8. CONTINUING PROFESSIONAL EDUCATION COMMITTEE

Sl.No.

Date

Place

Details of the

Programme

Kathmandu

Yercaud

(Tamilnadu)

At various places

in the country

9. COMMITTEE FOR MEMBERS IN INDUSTRY

2744

2019

10. COMMITTEE ON ETHICAL STANDARDS & UNJUSTIFIED REMOVAL

OF AUDITORS,

1 1. INTERNATIONAL AFFAIRS COMMITTEE

12. UNIVERSITY & HIGHER SECONDARY BOARDS

LIAISON COMMITTEE

Nature of Prize

Sl.NO.

Name of the University

1. Association of Indian Universities, New Delhi

13. PUBLIC RELATIONS COMMITTEE

14. COMMITTEE ON VISION AND RESTRUCTURING

During the year, five meetings of the Committee were convened at

Headquarters of the Institute. It approved a set of three structured questionnaires

for Members in service, Members in Practice and Students to elicit the views of its

members and students on the profession in the year 2010 based on a broad based

analysis about the profession In altered global economic scenario. These

questionnaires were published in September, 1998 issue of the Institute's Journal

and Students Newsletter and the questionnaires for Members were once again

published in March 1999 issue.

To ensure fair representation of members from each segment of widely

diversified membership of profession, the Committee constituted various task

force(s) for different regions, Industry users, Industry bodies, Banks and FIIs,

Financial Markets, Regulatory bodies, Govt., Information Technology and like

segments. The Committee was regularly facilitated by the experienced senior

members of the profession, Including past and present Council members and past

Presidents in the process of positive Image building for the Institute and the

profession.

Workshops and surveys were conducted by It and task force(s) at Bangalore,

Mumbai, Jaipur, Hubli, Visakhapatnam, Tirupur, Yercaud, Hyderabad, Channel,

Rajahmundary, Vljaywada, New Delhi, Indore, Murudeshwar and Ahmedabad.

It finalised a draft Vision Statement, wherein Mission, Vision, Core Value for

Institute and Members, strategies for achieving the vision were Included.

It expects to finalise the VISION for-next Century by December, 1999

alongwlth the detailed Restructuring plan.

15. COMMITTEE FOR GOLDEN JUBILEE CELEBRATIONS

Underscoring the significance of the historic occasion of the Institute entering

Its 50th year of existence on 1" July, 1998 and completing its 50 years of glorious

existence on 30th June, 1999, the Council of the Institute decided to celebrate the

occasions in a befitting manner for a period of two years commencing from 1st July,

1998 and ending on 30th June, 2000.

With a view to achieving the desired objectives, the Committee chalked out

various programmes, which Inter alla, Include the following.

• Golden Jubilee year Inaugurated by Hon'ble Prime Minister by

releasing Golden Jubilee Logo.

• Inaugural panel discussion led by Hon'ble Finance Minister of India.

Theme - Positioning India as a Global Economic Power.

• Golden Jubilee functions organised in every State and Branches with

Governors/Chief Ministers/Union Cabinet Ministers/State

Ministers/other key dignitaries participating.

• Organising International Conference at Calcutta on the occasion of

Golden Jubilee, attended by 1200 participants from India and abroad;

consisting of 16technicalsessions with 50 eminent speakers from all

across the world.

27-259 GI/99

16. COMMITTEE ON ELECTORAL REFORMS

17, COMMITTEE FOR REVIEW OF EDUCATION AND TRAINING

APPENDIX VI

(Ref. Para 11.2 of the Report)

List of names deleted from the Register of Members

on account of Death during the year ended 31st March 1999.

M.No.

Name

APPENDIX V II

(Ref. Para 12.1.4 of the Report)

Region-wise Number of Students Registered for Foundation Course

during the year 1998-99

APPENDIX V I II

(Ref. Para 12.1.6 of the Report)

Number of Students on Rolls for Intermediate and Final Courses

1,36,816

1,65,069

1,53,545

APPENDIX IX

(Ref. Para 13.1.1 & 13.1.2 of the Report)

A.Listof

Branches of Regional

Councils as on July,,

1999

20. Moradabad

21. Nolda

22. Patna

23. Ralpur

24. Ranchl

25. Udalpur

26. Varanail

Western India

Regional Council

19. Salem

20. Tlruchlrapalli

21. Tirunelvell

22. Tirupur

23. Trichur

24. Trivandrum

25. Tutlcorln

26, Vellore

27. Vljayawada

28. Visakhapatnam

Northern India

Regional Council

Eastern India

Regional Council

1. Amritsar

2. Chandigarh

3. Parldabad

4. Gurgaon

5. Himachal

Pradeah

6. Hliar

7. Jalandhar

8. Jammu &

Kashmir

1. Asansd

2. Bhubaneswar

3. Cuttack

4. Durgapur

5. Guwahati

6. Rourkela

7. Slllguri

1. Ahmedabad

2. Anand

3, Aurangabad

4. Baroda

5. Goa

6. Jalgaon

7. Kolhapur

8. Nagpur

9. Nasik

10. Pune

11. Rajkot

12. sangil

13. Solapur

14, Surat

Central India Regional

Council

Southern India

Regional Council

9. Ludhlana

10. Panlpat

11. Patlala

12, Rohtak

13. Yamunanagar

B. List of

Chapters of the

Institute

outside India

1. Abu Dhabi

2, Bahrain

3. Doha

4. Dubai

5. Jeddah

6. Muscat

7. Zambia

8, Botswana

9, Eastern Province

(Saudi Arabia)

10. Nairobi (Kenya)

1. Alleppey

2. Bangalore

3. Belgaum

4. Calicut

5. Coimbatore

6. Ernakulam

7. Erode

8. Guntur

9. Mubll

10. Hyderabad

11. Kottayam

12. Kumbakonam

13. Madural

14. Mangalore

15. Mysore

16. Palghat

17. Pondicherry

18. Qullon

1. Agra

2. Ajmer

3. Allahabad

4. Alwar

5. Barellly

6. Bhllwara

7. Bhopal

8. Dehradun

9. Dhanbad

10. Ghazlabad

11. Gwallor

12. Indore

13. Jaipur

14. Jamshedpur

15. Jodhpur

16. Kota

17. Lucknow

18. Mathura

19. Meerut

AUDITORS' REPORT

We have audited the Balance Sheet of The Institute of Chartered Accountants of India, as

at 31st March, 1999 and also the annexed Income & Expenditure Account for the year

ended on that date incorporating the accounts of the Institute's Office, Regional Council

and their Branches audited by other auditors and report that ;

1. We have obtained all Information and explanation which to the best of our Knowledge

and belief were necessary for the purpose of our audit;

2. The Balance Sheet and the Income & Expenditure Account dealt with by the report

are In agreement with the books of accounts;

3. In our opinion, the accounts are maintained In conformity with the requirements of

Chartered Accountants Act, 1949;

4. In our opinion and to the best of our Information and according to the explanations

given to us, the statement together with the schedules attached and read with the

Accounting Policies and subject to Note No. 1 regarding non-receipt of the accounts

of one branch; Note No. 2 regarding non-ascertainment of actuarial value of liability

towards Pension Funds and Leave Encashment Fund and Note No. 4 regarding Prior

Period Income & Expenditure, give a true and fair view :

(I) In the case of Balance Sheet, of the state of affairs as at

March 31,1999; and

(II) In the case of the Income & Expenditure Account, of the

surplus for the year ended on that date,

R K BATRA

CHARTERED ACCOUNTANT

PRADEEP AGARWAL

CHARTERED ACCOUNTANT

Place: New Delhi

Dated 31/8/99

THE INSTITUTE OF CHARTERED ACCOUNTANTS OF INDIA

BALANCE SHEET

AS AT MARCH 31,1999

New Delhi

Date: 21/8/99

ASHOK HALDIA

G SITHARAMAN

S P CHHAJED

DEVENDRA KUMAR

VICE PRESIDENT

SECRETARY

JOINT SECRETARY

PRESIDENT

Schedules 'A' to 'H' form an Integral part of Acoounts:

As per our Report of even date attached

New Delhi.

Date: 21/8/99

PRADEEP AGGARWAL

R.K. BATRA

CHARTERED ACCOUNTANT

28-259 GI/99

INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31.03.1999 Page No 2

228367555

278347359

Fees Received

Journal & News Letters:

1099869

b) Students News Letter

603530

358778

18205039

442894

19688584

24571902

23597157,

13919093

15146928

2504481

17443318

1936526

12874507

TOTAL "A"

365691564

291011956

14847491

10030880

1988734

c) News Letters of Rcs & Brs

3003142

3441792

2285136

5894915

25321489

3493044

17998757

33833098

15486795

103176728

44610128

25395679

113011869

8161145

12321584

9477226

8102283

7822378

8176454

5840744

6798219

20618824

8159345

3162827

847018

18670044

11592674

13241125

5245240

1725642

732114

8972817

14249845

334325411

280401814

31366153

30610142

17691718

27674336

Employees Benevolent Fund

1000000

Golden Jubilee Celebration Fund

1000000

2691B17

31366153

S.PC CHHAJED

DEVENDRA KUMAR

PRESIDENT

G. SITHARAMAN

VICE PRESIDENT

JOINT SECRETARY

CHARTERED ACCOUNTS

THE INSTITUTE OF CHARTERED ACCOUNTANTS OF INDIA

CAPITAL RESERVES

Page No 3

THE INSTITUTE OF CHARTERED ACCOUNTANTS OF INDIA

GENERAL & OTHER RESERVES

SCHEDULE

SCHEDULE "C" - EARMARKED FUNDS

Page No 4

Page No 5

Employees

Pension Fund

TOTAL (B)

Particulars

Encashment Fund

Benevolent Fund

31.03.99

31.03.98

31.03.99

33417152

22646129

29017152

3052698

3917315

3917315

10600000

5000000

(2173824)

(1681675)

(2173824)

1000000

46760643

1000000

29017152

THE INSTITUTE OF CHARTERED ACCOUNTANTS OF INDIA, NEW DELHI

SCHEDULE "D" -FIXED ASSETS

NoteN o .1ThisincludesRs 2,62.061/- relating to the Land atHubliwhichisunderlitigationwithHDUDA(HubliDistrictUrbanDevelopmentAuthority)

THE INSTITUTE OF CHARTERED ACCOUNTANTS OF INDIA, NEW DELHI

SCHEDULE "E"- INVESTMENTS (LONG-TERM)

(Amount in Rupees) PAGE NO. 8

THE INSTITUTE OF CHARTERED ACCOUNTANTS OF INDIA

SCHEDULE "F" - NET CURRENT ASSETS

4923537

37612702

(c) Loans & Advances:

9543804

11999178

21542982

36048346

(d) Cash & Bank Balances

107906389

TOTAL CURRENT ASSETS

CURRENT LIABILITIES & PROVISIONS:

143514243

30955540

20890704

195360487

(87454098)

Net Current Assets

Note Forming Part of the Accounts

THE INSTITUTE OF CHARTERED ACCOUNTANTS OF INDIA

NEW DELHI

SIGNIFICANT ACCOUNTING POLICIES

II Revenue Recognition

III Fixed Assets/ Depreciation

V Current Assets

VI Deferred Revenue Expenditure

VII Terminal/Retirement-Benefits

VIII Earmarked Funds / Allocations

THE INSTITUTE OF CHARTERED ACCOUNTANTS OF INDIA, NEW DELHI

CASH FLOW STATEMENT FOR

THE YEAR ENDED 31ST MARCH, 1999

THE INSTITUTE OF

COST AND WORKS ACCOUNTANTS OF INDIA

COST ACCOUNTANTS' HALL

12, SUDDER STREET, CALCUTTA-700 016

THE INSTITUTE OF

COST AND WORKS ACCOUNTANTS OF INDIA

40TH ANNUAL REPORT 1998-99

issued undar Section 18(5) of the Cost and Works Accountants Act, 1959

senting the Annual Report and Audited Accounts of the ICWAI for the year ended 31st

March 1999.

The Council of the Institute of Cost and Works Accountants of India takes pleasure in pre

The Council its meeting haldon22nd July 1998e l e c t edShriR. J, Goal, B.Com,, FICWA as

President and Shri Kunal Banerjee, B,A, (Hons.), FCA, FICWA as Vice-President of the Institute

for the year 1998-99.

The Council met six times during the year 1998-99,

COMMITTEES OF THE COUNCIL

The details of various Committees constltuted by the council on 22nd July, 1998 are given in

Annexure-I,

REGION

1997-98

1998-99

TOTAL

Practical Training Scheme

Revision/Updating of Study Notes and Publication of Supplements

New Coaching Scheme

Recognition by Universities/Other Bodies

30-259 GI/99

effect from 1st July, 1994. CIMA has awarded further exemption In the following five papers to the

students, who have passed the Final Examination of the Institute under previous syllabus :

Stage -1 Stage - II

* Financial Accounting Fundamentals * Financial Accounting

* Cost Accounting & Quantitative Methods * Operational Cost Accounting

* Economic Environment

Indian Institute of Bankers has granted exemption In their Paper entitled Management Accounting

and Financial Management In addition to the paper Basic Accountancy of the Associateship Exami-

nation of CAIIB to the Coat Accountants (vide their letter No, AW/704/88 dated 16/8/98),

The Association of Chartered Certified Accountants (ACCA), London, exempted the Coat Accoun-

tants In 4 Papers of the Foundation Stage of the ACCA Course, viz., Accounting Framework, Legal

Framework, Management Information and Organisation Framework,

Examinations

The examinations of June 1998 and December 1998 term were held at 89 centres all over India and

at 8 overseas centres. The number of examinees enrolled was 42,793 and 43,184 respectively. The

list Indicating the name's of examination centres is given In Annexure III, The Regional Councils and

Chapters extended their full support and co-operation, The examination committee placed on record

their profound gratitude to all Centres-ln-charge and the officials of the examination centres with

whose active co-operation It could be possible to conduct examinations smoothly.

The service and co-operation from hundreds of moderators, paper-setters and examiners from

various parts of the country was also thankfully acknowledged,

For the first time, Examination Results for June 1998 were published through Internet. The system of

sending mark sheets and certificates together to the students completing Final or Intermediate

examination was continued. Now, the priority area of the examination department la to create stu-

dent database and arrange facilities operation In Interactive mode so as to Improve the services to

the students by prompt and quick access to relevant Information.

The Examination Committee placed on record their appreciation to the staff members of the exami-

nation department for their sincere and dedicated service for the smooth conduct of the examina-

tion.

Membership

During the year, 1209 candidates were admitted as Associate members and 142 Associate Mem-

bers were elevated as Fellow Members, As on 31st March, 1999, the total number of members

stood at 18990, The number of Members In Practice was 1817 as against 1874 In the previous year,

The number of Graduate Members enrolled during the year was 1420 as against 1707 In the previ-

ous year. About 5000 Grad, CWAs are awaiting completion of requisite period of experience and

other formalities to become Associate Members,

Best Chapters for the year 1998

WIRC

NIRC

Activities of the Research and Journal Committee

Activities of the Professional Development (Technical Committee)

review of the operations of the RBI, determining the areas for Improvement, appointment of our

members for various types of audits, etc. The RBI Governor was very positive with regard to the

Involvement of the Cost and Management Accountants In the overall Banking Sector and welcomed

the views and suggestions on behalf of our Institute.

Important personalities of the Banking & Finance Sector met during the period Included; Shrl C, M.

Vasudev, Additional Secretary (Banking); Shrl M, N. Dandekar, Chief Executive & Secretary, IBA;

Chairman of the State Bank of India, Shrl M, P, Radhakrishnan, Chairman and Managing Director of

the Central Bank of India, Shrl K C. Chowdhary, Chairman and Managing Director of Dena Bank,

Shri Ramesh Mishra, Chairman and Managing Director of UCO Bank, Shri Sharda Singh, Chairman

and Managing Director of Allahabad Bank, Shri Harbhajan Singh, Chairman and Managing Director

of Bank of Maharashtra, Shri M. M, Vaish and others.

The role of Cost Accountant was highlighted In the following areas: Internal audit, Concurrent audit,

Stook audit, Valuation of Inventories, Reduction and control of Non Performing Assets (NPAs), pric-

ing of banking services, branch level profitability, Identification of loss making branches, etc. Be-

sides that the Cost Accountants can be employed In large number In various levels also.

We met the Chairman of The Securities and Exchange Board of India, Shrl D. R, Mehta and deliber-

ated on the effective utilisation of the services of the Cost and Management Accountants In the field

of Capital Market, both In service and In practice, It was also decided to have a detailed meeting

with specific Issue In future, Our meeting with Shrl B. V. Goud, Managing Director & CEO of Stock

Holding Corporation of,India Ltd. (SHCIL) and Dr, J, V. Murthy and Shri L, Viswanathan of SCHIL

was very enlighting. SHCIL is expanding to achieve Its target of opening as many depository ac-

count as possible In the country and we Impressed the MD to consider absorption of our profes-

sionals for the purpose,

In the Insurance sector, we met the Managing Director of the General Insurance Corporation of

India, Shrl P. M, Venkatasubramanlan and General Manager, Shrl M, K. Tandon, We deliberated on

the utilisation of the services of the Cost and Management Accountants In various ways, viz, ap-

pointment as surveyors, risk management, etc We also met the Chairman of the Life Insurance

Corporation of India, Shrl G. Krishnamurthy and Shrl P. C, Gupta and Shrl R, M, Pande, both execu-

tive directors of LIC, We emphasised that our services can be utilised for audit of the borrowers

accounts, audit of branches and zonal offices, etc, We also had a talk for holding number of Joint

seminars and organising training programme for their employees,

Activlties of the Professional Development (General) Committee

The Committee decided to explore the role of Cost Accountants In the area of Environment Audit. A

monograph on Environment Audit and Role of Cost Accountants was prepared for widening the

horizon of Cost Accountants, The monograph was presented to the Council of the Institute which

was accepted,

In order to enlarge the scope of Practising Cost Accountants, the Committee put extensive efforts In

bringing more and more Companies under the purview of Cost Audit. Efforts were' also made to

Improve the status of Cost'Accountants In employment, Regarding Coat Accountants In the Rail-

ways, the Issue of disparity In pay structure, promotion policy and as per their clrcular, compulsory

deployment of one Cost Accountant In every Shopfloor has to be taken up, The Issue was brought to the

notice of the Committee towards the end of Its term. The matter Is being followed up vigorously,

The Committee met thrice during the year and deliberated on various Important Issues concerning the

profession for further development of the Institute and greater scope for members In service and practice,

Activities of the) Continuing Education Programme) Committee

The CEP Committee of the Institute organised 31 Programmes during the year 1998-99 In India and

abroad. These Programmes Includes the in-house Programmes for Indian OH Corporation Limited,

Gas Authority of India Limited, Oil and Natural Gas Corporation Limited, Indian Defence Accounts

The Committee approached public sector organisations for deployment of budding Cost Accoun-

tants as Trainees and qualified Cost Accountants as Executives In finance and allied disciplines,

Positive response was obtained from Pyrites, Phosphates and Chemicals Ltd., NALCO, Goa Ship-

yard Ltd., Rashtriya Ispat Nigam Ltd., Visakhapatnam Steel Plant, Hindustan Photo Films Manufac-

turing Company, ITI Ltd., ONGC etc. ONGC and ITI conducted Campus Interviews and Walk-in

Interviews for selection of Cost Accountants for responsible positions in respective organisations.

In the Infrastructure sector, close liaison was maintained with Indian Railways, Dept. of Telecommu-

nication and other organisations for effective utilisation of the services of Cost Accountants.

The Committee recommended constitution of an Advisory Committee consisting of eminent per-

sonalities from Industry and Government at the national and regional levels for advising on profes-

sional development issues. For better communication of the Institute's progress in various fields,

It was suggested to give complementary copies of the Institute's Journal The Management Accoun-

tant to the leaders of the Industry, other economic sectors and the peoples' representatives, It was

also recommended by the committee, that the Institute should take up consultancy assignments In

relevant fields for rendering service to the cause of national economic development and progress In

a changing environment of today,

Activities of the Computer & Networking Committee

The Computer and Networking Committee of the Council was constituted with a view to monitor the

progress In Computerization and related activities in this front, The Committee Identified some

priority areas for Computerization—I) Improvement in Examination processing system ii) Member-

ship Management System Hi) Student Database Management System and iv) Office automation.

The Committee had three meetings during the period to review the progress which were as follows:

I) The RISC based Alpha Server 800 has been Installed, A few Initial teething problems are there

and the stabilization process is going on, The powerful server will play a key role in

Improvement of service to the students and the members once the database creation Is com-

plete and on-line operational facilities are developed.

II) Software has been developed to create Membership database with on-line operational facilities.

The master data conversion process is going on, The Introduction of the system will help in

rendering prompt services to the members.

Ill The time lag between' receipt of the instruments and their encashment could bo reduced to a

great extent by timely processing them with a newly developed software.

iv) Good progress could be achieved In conversion of software and data of Examination system In

the new Alpha Server system.

Computerization of different activities have been Initiated and the committee feels that with the

active support and co-operation of the staff and officers, the Institute would be In a position to

render better service to Its member*, students and the society at large,

GENERAL

MEMBERS' BENEVOLENT FUND

During the year thirteen members became Life Members of the Benevolent Fund. The total number

of Members of the Fund became 566, The accumulated fund Is around Rs, 5,09 lakhs which has

been lying Invested In the approved Securities and in Banks, The Council would like all the members

of the Institute to be the members of the Benevolent Fund,

ACCOUNTS

The Audited Accounts of the Institute for the year 1998-99 with Audit Report thereon are annexed to

this Report,

APPRECIATION AND THANKS

The Council appreciated the co-operation extended by the officers and staff as well as the members

at large of the Institute for furthering the cause of the profession, The council also placed on record

its sincere thanks to the Secretaries and Officers of the Government Departments specially the

Ministry of Industry, Ministry of Finance, Ministry of Law, Justice) and Company Affaire) and Depart-

ment of Company Affairs for the co-operation and guidance extended to the Council during the

year under report. The Council hop* to receive similar help, co-operation and guidance continu-

ously In the future,

By order of the Council

R. J, Goal

Calcutta

Udayan Ray

AUDITOR'S REPORT

To the Members of

The Institute of Coat and Works Accountants of India

1. We have audited the attached Balance Sheet of The Institute of Cost and Works Accountants of India as

at 31st March, 1999 and the related Income and Expenditure Account for the year ended on that data,

which are in agreement with the books of account.

2 In our opinion and to the best of our Information and according to the explanations given to us, the Balance

Sheet and the Income and Expenditure Account had together with the Schedules attached thereto and

notes thereon and subject to the note B, 1 regarding adjustment of unlinked amounts In bank accounts,

note B, 3 regarding non-capitailsatlon of advances tor construction of buildings, and Accounting Policy

No, A. 5 regarding accounting for leave encashment on cash basis, which Is contrary to Accounting Stan-

dard (A3) 15, 'Accounting for Retirement Benefits In the Financial Statements of Employers', Issued by the

institute of Chartered Accountants of India, with consequential affect on the deficit for the year and rel-

evant items on the balance sheet, give a true and fair view of the state of the Institute's affairs as at 31 st

March. 1990 and of its deficit for the year ended on that date,

5. We have obtained, all the Information and explanations, which to the best of our knowledge and belief

were necessary for our audit, In our opinion, the accounts have been maintained In conformity with the

requirements of the Cost and Works Accountants Act, 1959,

4. We have also checked the accompanying twenty nine prize funds, which an not reflected In the Balance

Sheet as per past practice, but the relative Interest on fixed deposits and the cost of prizes an routed

through the Institute's bank accounts and found them In accordance therewith.

ForGupta& Co.

Chartered Accountants

Calcutta, 2im June, 1999 S. K, Gangull

Partner

53A Mirza Ghaiib Street

Calcutta-700 016

Cable ; Vidimus

Phone : 229-2638, 229-0871/72

Fax ; (91) (033) 229-6241

BALANCE SHEET

AS AT 31ST MARCH 1999

Total

REPRESENTED BY :

Fixed Assets:

Total

INCOME AND EXPENDITURE ACCOUNT

for the year ended 31st March 1999

Last year

Schedule

This year

1998-99

1997-98

(Rs.)

Particulars

(Rs.)

(11)

TOTAL

EXPENDITURE

(12)

(13)

(14)

(15)

(16)

TOTAL

TOTAL

(17)

(18)

Schedules referred to above form part of the Accounts

Kunai Banerjee

Director (F & A)

SCHEDULE FORMING PART OF ACCOUNTS

This year

Last year

1998-99

Particulars

1997-98

(Rs.)

i) Unlinked transactions in Bank Accounts

Income & Expenditure Account (H.Q.)

I C.WAI,, Research Centre (Mumbai)

SCHEDULE FORMING PART OF ACCOUNTS (Contd.)

SCHEDULE NO. 2

EMPLOYEES' GRATUITY FUND

as at 31st March 1999

This year

1998-99

Particulars

(Rs.)

Employers' 7,584

Employees' 3,792

TOTAL

SCHEDULE FORMING PART OF ACCOUNTS (Contd.)

SCHEDULE NO. 4

FIXED ASSETS

as at 31st March 1999

Gross Block

Net Block

1698-99

1997-98

(Rs.)

605,055

7.193,899

779,866

(Durgapur&UkkunagaramChapt.)

FURNITURE 4 FITTINGS;

Headquarters

14,649/777

SCHEDULES FORMING PART OF ACCOUNTS (Contd)

Last year

1997-98

This year

1998-99

Particulars

(Re.)

(Rs.)

SHARES (GENERAL FUND)

5 Shares of Rs, 100/-each in

Jal Bnidaban Promises Trust

Fund, Bombay

5,524,645

177,429

24,928,000

FIXED DEPOSIT WITH BANKS:

A) Employees' Gratuity Fund

B) Employees' Benevolent Fund

C) General Fund (Institute)

26,915,074

6,174,645

177,429

20,563,000

30,630.574

26.915,574

Last year

1997-98

This year

1998-99

(Rs.)

1,836,844

394,625

4,610.970

Publication Stock (at Coat)

Paper Stock (at Coot)

Study Material Stock (at Cost)

2.304,254

562,492

3,701,612

175 063,581

Stock Silk Ties

Interest Aocrued. on Investments:

175 995,286

600,506

3,578,708

5,293,766

66,613

113,458

638.490 234,722

Cash and Bank Balances:

In hand (Including Cheques / Drafts for

Rs, 19,100/- and Postage Stamps for

RS. 80,107/-)

At Bank

At Post Office

1,036,984

TOTAL

SCHEDULE FORMING PART OF ACCOUNTS (Contd.)

LaSt year

1997-98

PARTICULARS

(Rs.)

8% Building Loan 2,826,822

4% Building Loan 208,267

GAZETTE OF

SCHEDULES FORMING PART OF ACCOUNTS (Contd.)

SCHEDULE NO. 7(A)

BUILDING LOAN TO CHAPTERS

as at 31st March 1999

This year

1998-99

Last year

1997-98

Sl. No.

Name of the Chapter

4% Loan 8%

4% Loan

(Rs.)

8% Loan

(Rs.)

18,267

90,000

100,000

18,267

90,000

100,000

100,000

136,000

200,000

59,933

100,00a

Kota

Kalyan-Ambarnath

Howrah

Goa

Bangalore

Lucknow

Jaipur

Udalpur

Visakhapatnam

Kanpur

Pun*

Asanaol

Coimbatore

Nagpur

Ukkunagaram

Durgapur

Kohlapur-Sangll

Bokaro Steel City

Hyderabad

Ranipet

Baroda

Bhopal

Mysore

Dhanbad

Serampore

Trissure

46,717

100,000

135,000

200,000

80,000

—

70,000

200,000

100,000

200,000

100,000

150,000

100,000

180,000

112,600

86,112

165,000

200,000

100,000

200,000

36.112 149,511

200,000

100,000

150,000

71,300

180,000

83,300

—

165,000

200,000

199,333

197,333

208,267

2,825,329

206,267

2,826,822

Realisation of Building Loan during 1998-99:

(Rs)

8% Building Loan

Bangalore

Ukkunagaram

Visakhapatnam

Hyderabad

Pune

Nagpur

Trissure

Srirampore

Baroda

Bhopal

46,717

50,489

20,067

26,700

70,000

63,888

2,667

667

29.200 86,112

TOTAL :

398,507

SCHEDULES FORMING PART OF ACCOUNTS (Contd.)

SCHEDULES FORMING PART OF ACCOUNTS (Contd.)

Last year

This year

1997-9P

1998-99

PARTICULARS

(Rs.)

Current Liabilities:

ANNEXURE TO SCHEDULE NO. 8

SCHEDULE OF PROVISIONS:

As per Last Account 30,000

Add : Provision for the year 30,000

As per Last Account 27,247

SCHEDULES FORMING PART OF ACCOUNTS (Contd.)

SCHEDULE NO. 9:

INCOME : ANNUAL SUBSCRIPTION AND OTHER FEES

for the year ended 31st March 1999

This year

Last year

1998-99

1997-98

PARTICULARS

(Rs.)

By Annual Membership Fees

" Students' Annual Subscription

" Members' Certificate of Practice Fee

" Grad C.W.A. Fees

" De-Novo Form Fees

" Nomination Fees

" Members' Restoration Fees

" Members' Complaint Fees

By Examination Fees

" Verification Fees

" Sale of Examination Forms

" Sundry Income

By Tuition Fees

" Recognition Fees

" Recurring Annual Fees

" Service Fees

" Sale of Study Notes

" Sale of Coaching Revalidation Forms

" Revalidation of Coaching Completion

Certificate Fees

SCHEDULES FORMING PART OF ACCOUNTS (Contd.)

EXPENDITURE: ESTABLISHMENT

for the year ended 31st March 1999

This year

1998-99

1997-98

PARTICULARS

(Rs.)

Provident & Pension Fund

" Employers' Cont. to Employees' Gratuity Fund

Employers' Cont, to Employees' Benevolent Fund

" Medical Benefit to Employees

" Leave Travel Allowance to Employees

" Leave Encashment to Employees

" E.D.L L. Inspection Charges

" Training & Development (H.R.D.)

EXPENDITURE : OFFICE EXPENSES

Telex and Fax Charges

Interest on Caution Money Deposit from

Oral Coaching Institutions

" Study Material Distribution Expenses

" Public Relation Expenses

" Watch & Ward Expenses

SCHEDULES FORMING PART OF ACCOUNTS (Contd.)

SCHEDULE NO. 14

REVENUE GRANTS TO REGIONAL COUNCILS

INCLUDING REIMBURSEMENT OF

REVENUE EXPENSES

for the year ended 31 st March 1999

A) Amount reimbursed to the Regional Councils during the year on following

accounts and merged with Income & Expenditure Account:

Last year

1998-99

W.I.R.C.

S.I.R.C.

1997-96

(Rs.)

(Rs.)

B) Revenue Grants:

1. 242,509

4,196,551

727,181

Total (A) + (B)

SCHEDULES FORMING PART OF ACCOUNTS (Contd.)

SCHEDULE NO. 16

EXAMINATION EXPENSES

for the year ended 31st March 1999

This year

Particulars

1998-99

(Rs.)

Last year

1997-98

(Rs.)

SCHEDULE NO. 16

COUNCIL & COMMITTEE MEETING EXPENSES

for the year ended 31st March 1999

Particulars

Last year

1997-98

(Rs.)

This year

1998-99

(Rs.)

SCHEDULE NO. 17

PRIOR PERIOD EXPENSES

as at 31st March 1999

Last year

This year

1997-9B

Particulars

1988-99

NOTES FORMING PART OF ACCOUNTS

FOR THE YEAR ENDED 31ST MARCH 1999

SCHEDULE NO. 18

A. SIGNIFICANT ACCOUNTING POLICY

1. Fixed Assets:

A. Fixed Assets are stated In the accounts at cost lass depreciation provided at diminishing value

method at the rate prescribed under Income Tax Rules from time to time.

B. No write off is made In respect of leasehold land.

C. Assets under erection are shown as capital work In progress,

2. Income and Expenditure Recognition:

I) Incomes are normally treated In the accounts on cash basis except Interest Income and transac-

tions with the Regional Councils and Chapters In respect of sale of various publications of the

Institute,

II) Expenditure other than Annual Grants to Chapters and leave encashment of employees are con-

sidered on Mercantile basis. Election related expenses are charged off In the accounts over three

years.

3. Investments:

Investments are stated at cost.

4. Inventories:

Inventories are comprised of various publications, papers and study materials stock which have been

valued at Coat of Purchase plus other related Incidental charges. However, unconsumable/unsaleable

publications & study materials are not Included In stock value.

6. Employees' Retirement Benefits:

Gratuities are provided in the Accounts on the basis of actuarial valuation In accordance with pay-

ment of Gratuity Act, 1972.

Provident Funds are paid to the Trustees as per the Institute's Rules in this regard and Institute's

contribution are charged against revenue each year,

Leave encashment benefit on retirement is accounted for on cash basis.

0. Foreign Currency Transactions:

Foreign currency transactions are accounted for in the accounts on Collection/Payment In rupee, i.e.

when It Is received and Incurred In rupee value.

7. Prior period Income/Expenditure;

Prior period specific revenue portion is shown below the line of the Income and Expenditure Account

and other adjustments of prior period are adjusted to and from General Fund.

B. NOTES FORMING PART OF ACCOUNTS

1. An amount of Rs. 20,744/- (comprising credit of Rs, 3,38,928/- and debit of Rs, 3,59,670/-) has

33-259 GI/99

PRIZE FUND

K. RAMCHANDRAN MEMORIAL PRIZE FUND

as at 31 st March 1999

By Balance in Fixed

Less : Cost of Prize

)

MAUJI RAM JAIN MEMORIAL PRIZE FUND

as at 31st March 1999

By Balance in Fixed

Less : Cost of Prize

B. C. CHAKRABORTY MEMORIAL PRIZE FUND

as at 31st March 1999

By Balance in Fixed

Less : Cost of Prize

PRIZE FUND

J. N. BOSE MEMORIAL PRIZE FUND

as at 31st March 1999

D. D. KALRA MEMORIAL PRIZE FUND

as at 31st March 1999

PUNE CHAPTER OF COST ACCOUNTANTS SILVER JUBILEE PRIZE FUND

as at 31st March 1999

Less; Cost of Prize

PRIZE FUND

U. N. SUR MEMORIAL PRIZE FUND

as at 31st March 1999

By Balance in Fixed

Less : Cost of Prize

V. SRINIVASAN MEMORIAL PRIZE FUND

as at 31st March 1999

WAZIR DEBI PURI MEMORIAL PRIZE FUND

as at 31 st March 1999

Less : Cost of Prize

PRIZE FUND

Q. INDIRA DEVI MEMORIAL PRIZE FUND

as at 31st March 1999

Less : Cost of Prize

B. N. GANGULY MEMORIAL PRIZE FUND

as at 31st March 1999

)

G. D. MUNDHRA MEMORIAL PRIZE FUND

as at 31st March 1999

Less : Cost of Prize

PRIZE FUND

SRINIVASAN JAGANNATHAN MEMORIAL PRIZE FUND

as at 31 at March 1999

20,000.00

To Balance In Fixed

By Balance In Fixed

20,000.00

Deposit with Bank

990.14 " Accrued Interest due from Bank

Interest received during the year

1,950.00

" Amount due from the Institute

4,845.82

" Interest accrued upto 31,03,99

990,14

Add: Due from the Institute as per

4,377,96

last account

7,318,10

Lees: Cost of Prize

1,682.34

5,835.76

25,635,76

25,635.76

A. K. B I 8 W A8 FOUNDATION PRIZE FUND

as at 31st March 1999

To Balance In Fixed

By Balance In Fixed

22,017.00

22,017,00

Deposit with Bank

291,96

" Accrued Interest due from Bank

" Interest received during the year

2,421,88

16,051.99

" Amount due from the Institute

Interest accrued upto 31.03.99

291.95 Add: Due from the Institute as per

12,630.11

last account

15,343,94

37,360.04

37,360.94

OH. BISHAN DASS PURI MEMORIAL PRIZE FUND

as at 31 st March 1999

12,000.00

By Balance in Fixed

To Balance In Fixed

12,000,00

Deposit with Bank

" Accrued Interest due from Bank

" Interest received during the year

410.31 1,440,00

" Interest accrued upto 31,03.99

410.31 " Amount due from the Institute)

1,182.86

1,425,19

Add: Due from the Institute

as per Iast account

3,275.50

Less: Cost of Prize

1,682.34

1,593,16

13,593.16

PRIZE FUND

N. SARKAR MEMORIAL PRIZE FUND

as at 31st March 1999

Rs. Rs.

To Balance In Fixed

10,000,00

By Balance in Fixed

10,000.00

Deposit with Bank

" Accrued Interest due from Bank

170,95

" Interest received during the year 1,200,00

" Amount due from the Institute

6,288.00

interest accrued upto 31.03.99 170.95

Add: Due from the Institute as per 6,088.00

last account

7,458.95

Less: Cost of Prize 1,000.00

6,458.95

16,458.95

16,458,95

SUBHAS ADDY MEMORIAL PRIZE FUND

as at 31 March 1999

To Balance In Fixed

5,000.00

By Balance In Fixed

6,000.00

Deposit with Bank

" Accrued Interest due from Bank

143.01 " Interest received during the year 900.00

" Amount due from the Institute

1,440.00

Interest accrued upto 31.03.99 143.01

Add: Due from the Institute as per 1,290.00

last account

2,333.01

Less: Cost of Prize 760.00

1,683.01

6,583.01

6,583,01

SULTANCHAND MEMORIAL PRIZE FUND

as at 31 at March 1999

To Balance In Fixed

25.000,00

By Balance in Fixed

25,000.00

Deposit with Bank

" Accrued Interest due from Bank

1,495,90

" Interest received during the year 2,750,00

Interest accrued upto 31.03.99 1,495.90

" Amount due from the Institute

10,120.00

Add; Due from the Institute 7,370,00

as per lost account

11,615,90

36,815.90

36,615 90

PRIZE FUND

K. K. DUTTA MEMORIAL PRIZE FUND

as at 31st March 1999

BIKRAMJIT MAJUMDAR MEMORIAL PRIZE FUND

as at 31st March 1999

KEDARNATH PRALHADRAI DHANUKA MEMORIAL PRIZE FUND

as at 31st March 1999

PRIZE FUND

SMT. RAJAMMA & M.R.S. IYENGER MEMORIAL PRIZE FUND

as at 31 at March 1999

Less : Cost of Prize

MRS. DHANAPATI GOEL MEMORIAL PRIZE FUND

as at 31st March 1999

Less; Cost of Prize

as per last account

PRIZE FUND

MRS. MANDAKANI VASANT LIMAY MEMORIAL PRIZE FUND

as at 31st March 1999

Balance in Fixed

5,000,00 By

To Balance in Fixed

" Accrued Interest due from Bank

LATE LT. COL. AMBUJANATH BOSE MEMORIAL PRIZE FUND

as at 31st March 1999

30,000.00 By

LATE M. KRISHNA MURTHI MEMORIAL PRIZE FUND

as at 31st March 1999

10,000.00 By

PRIZE FUND

KANSHIRAM PRABHAKAR MEMORIAL PRIZE FUND

as at 31st March 1999

By Balance In Fixed

Deposit with Bank

Less: Cost of Prize

Deposit with Bank

5,509 00

click here for IIIF manifest

3162 3163 3164 3165 3166

3 1 67

3168 3169 3170 3171 3172 3173 3174 3175 3176 3177 3178

3 1 79

3180 3181 3182 3183 3184 3185 3186

3189 3190 3191 3192

3194 3193 3196 3197

3 1 98

3199 3200 3201 3202 3203

7-255 GI / 99

3204 3205 3206 3207 3208 3209

3 2 10

3211

3212 3213

3 2 14

3215 3216 3317 3118 3219

3220 3221 3222 3223 3224 3225 3226 3227 3228 3229

3 2 30

3231

3 2 32

3233 3234 3235

3236 3237 3238 3239 3240 3241 3342 3243

3 2 44

3245

3 2 46

3247 3248 3249 3250 3252 3253 3254 3255 3256 3257 3258 3259 3260 3261 3262 3263 3264 3265 3366 3267 3268 3269 3270 3271

3 2 72

3273

3 2 74

3275 3276 3277 3278 3279 3280 3281 3282 3283 3284 PART III—SEC. 4] THE GAZETTE OF INDIA, SEPTEMBER 25, 1999 (ASVINA 3, 1921) 3285

EMPLOYEES' STATE INSURANCE

CORPORATION

New Delhi.

No. N-15/13/14/3/94-P&D-In* pursuance of powers conferred by Section 46(2) of the Employees Regulation 95-A of the Employees State Insu- rance (General)/ Regulations, 1950, the Director General has fixed the 1st September, 1999 as the date from which the medical benefits as laid down in the said Regulation 95-A and the Tamil Nadu Employees State Insurance (Medical Benefit) Rules. 1954 shall be extended. to the families of insured persons in the following area in the state of Tamil Nadu namely Marthandam centre. Areas comprising the Revenue villages of Fonmanai, Atoor, Veeyanoor, Aruvikkarai, Tiruvattar, Thiruparuppu, Thumbacode of Kalkulam Taluk Arudesam, Pacode, Nalloor, Methukumal, Kollancode, Palugal, Kaliel, Vilavancode, Edaicode, Arumanai, Ezhudesam, Kunnathoor, Nattalam, Mancode, Vellamcode, Kulappuram, Anducode of Vilavancode Taluk in Kanyakumari District.

G.L. KAPOOR Director (P & D) New Delhi the 7th September 99

No. A-12(ll)l/95-DM(HQ)—In exercise of the powers conferred by Sub-Section (1) of Section 97 read with clause (xxi) of Sub-Section (2) and sub- section (2A) of that section and sub-section (2) of Section 17 of Employees State Insurance Corpora- tion Act, 1948 (34 of 1948 as amended), the ESI corporation thereby makes with the approval of the Central Government following regulations further to amend ESIC (Dietician) Recruitment Re- gulations 1997. Regulating the method of recruit- ment to the post of Sr. Dietician namely :

1. SHORT TITLE AND COMMENCEMENT :

(i) These Regulations may be called the ESIC (Dietician) (Amendment) Recruitment Regula- tions, 1999.

(ii) They shall come into force on the date of

their publication in the official Gazettee.

2. In the schedule annoyed to the Employee's State Insurance Corporation (Dietician) Recruit- ment Regulations, 1997.

(i) After SI. No. 1 and the entries relating there- to. SI. No. 2 in respect of the post of Sr. Dietician and entries relating thereto shall be inserted

3286 THE GAZETTE OF INDIA, SEPTEMBER 25, 1999 (ASVINA 3, 1921) [PART III—SEC. 4

RECRUITMENT RULES

FOR THE POST OF SENIOR DIETICIAN

Whether-

Name of post

NO. of post

Classi- Scale of fication Pay Whether Selec-

benefit of added

Educational &Other qualification re- required for direct recruits

AGE LIMIT for direct recruit- ment

tion by merit cum-seniority or non-selection post.

yrs. of service admissi. ble.

whether age & EQ pres- cribed for direct rec- ruits will apply in the case of promotees-

(5)

(6)

(3) (4)

(7)

(9) (2)

(8)

Senior Dietician

No.

2 Group

Not applicable 6500-2000- 10500

'B'

Not ex- ceeding

Essential 1. Master's degree

30 yrs.

in dietetics /Nutrition *(1999) Subject to variation dependent on workload.

of a recognised university or equivalent. OR

Master's degree in Home Science/Home Economics with specialisaion in food and nutrition of a recognised university

or equivalent. OR

Note under Column 6 Note 1. Relaxable for Govt. Servants and employees of ESICupto 5 yrs. in accordance with the instructions of orders issued by the Central Government, Note: 2. The crucial date for determining the age limit shall be the closing date of receipt of applications from candidates in lndia (and not closing date prescribed for those in Assam, Meghalayan, Arunachal Pradesh, Mizoram, Manipur, Nagaland, Tripura, Sikkim, Ludakh division of J&K state, Lahaul & SPITl District and Pangi Sub-Division of Chamba District of Himachal Pradesh, Andaman & Nicobar Islands or Lakshadweep). ***

Note; 1. Qualifications are relaxable at the discretion of the UPSC in case of candidates otherwise well qualified.

B.Sc. (Home Science)/ Home Economics/ with nutrition as a special subject from a recognised university or equivalent with post graduate diploma in die- tetics from a recog- nised university institution or equivalent, (ii) Two yrs. practi- cal experience in dietetics.***

Name of post

No. of Post

Classi- fication

Scale of Pay

Age limit for direct recruits.

Educational & other qualifi- cation required for direct recruits.

Whether benefit of added yrs. or service admissible.

Whether selection cum-merit for selection cum seniority or non-selection

post.

8 2

Note 2: The qualilication(s) regarding experience is/are relaxable at the discretion of the UPSC in the case of candidates belonging to scheduled castes or scheduled tribes if at any stage of selection the UPSC is of the opinton that sufficient num- ber of candidates from these communities possessing the requisite experience are not likely to be available to. fill up the posts reserved for them

PART III—SEC. 4 ] THE GAZETTE OF INDIA, SEPTEMBER 25, 1999 (ASVINA 3, 1921) 3287

If D PC exists what is its composition.

Period of prob. If any.

Circumstances in which UFSC to be consulted in making rectt.

In case of Rectt. by promotion/ deputation/ absorption grades from which promotion/ deputation/, absorption to be made.

Method of Rectt. whether by direct rectt. or by promotion 01 by deputa- tion/ absorption & % of the post to be filled of various methods.

(14)

(12)

(13;

(10)

(1)

Consultation with UPSC neccessary on each occasion- Promotion failing which by deputalion failing both by direct recruitment.

2 Yrs. for Direct recruits.

Group B' DPC (for considering promotion) 1. Chairman/Member: UPSC—Chairman

2 Medici Commissioner,

ES1C—Member.

3. Director(Medical)Hqrs.

PROMOTION Dietician the pay scale of Rs. 5500-9000 with 3 yrs. regular service in the grade, NOTE: Whore juniors who have completed their qualifying/ eligibility service are being considered for promotion

—ESIC—Member

Group 'B' DPC (for considering

confirmation)

1. Medical Commissioner ESIC—Chairman.

2. Director (Medical) Hqrs

ES1C—Member.

their seniors would also be considered provided they are not short of the requisite qualifying / eligibility service by more than half of such quailifying/eligibility service or two yrs whichever is less and have successfully completed their probation period for promotion to the next higher grade alongwith their juniors who have already completed such qualifying/eligibility service.

Note: The proceeding of the

DPC relating to Confirmation

of a directresuitshallbesent to the commission to for approval.

DEPUTATION Officers under the Central Government. (a) (i) holding analogous posts on regular basis; or (ii) with 3 yrs. regular service

If however these are not approved by the Commission a. fresh meeting of the DPC to be presided over by the Chairman or a Member of the UPSC shall be held.

in post in the scale of 5500-9000 or equivalent; and (b) possessing the educational qualifications and experience prescribed for direct recruits under Column-8. (The departmental officers in the feeder category who are in the direct line of promotion shall not be eligible for consideration for apptt. on deputation. Similarly deputionists shall not be eligible for Consideration for apptt. by promotion. Period of deputation including period of deputation in another ex-cadre post held immediately Proceeding this apptt. in the same or some other organisation/ Deptt. of the Central Govern- ment shall ordinarily not exceed three years. The maximum age limit for appointment by deputation shall be not exceed- ing 56 years as on the closing date of receipt of applications.

The Recruitment Regulations of Dietician were published in Part III Section 4 of Gazette of India dated 31-5-97 by Notification No. A-I2(lI) 1/95 DM(HQ) dated 12-5-1997.

3288 THE GAZETTE OF INDIA, SEPTEMBER 25, 1999 (ASVINA 3, 1921) [PART III- SEC .4

MINISTRY OF LABOUR

EMPLOYEES' PROVIDENT FUND ORGANISATION

(CENTRAL OFFICE)

HUDCO VISHALA, 14, BHIKAJI CAMA PLACE

New Delhi-110066, the 23rd August 1999

No. 2/1959/DLI/Exemp./89/Pt. 1/3040.—WHEREAS the Employer of the establishments mentioned in Schedule-l (hereinafter referred to as the said establishments) have applied for exemption under Sub-Section 2(A) of Section 17 of the Employees' Provident Fund and Miscellaneous Pro- visions Act, 1952 119 of 1952) hereinafter referred to at the said Act.

AND WHEREAS the Central Provident Fund Commis- sioner is satisfied that the employees of the said establish- ments arc without making any separate contribution or payment of premium, in enjoyment of benefits under the Group Insurance Scheme of the Life Insurance Corporation of India in the nature of Life Insurance which are more favourable to such employees than the benefits admissible under the employees Deposit Linked Insurance Scheme, 1976 (hereinafter referred to as the said scheme).

Now, therefore, in exercise of the powers conferred by Sub-Section 2(A) of the Section 17 of the said Act and subject to the conditions specified in Schedule-II annexed hereto, the Central Provident Fund Commissioner hereby exempt each of the said mentioned establishments in Sche- dule-I from the date mentioned against each from which date relaxation order under Para 28(7) of the said Scheme has been granted by the Regional Provident Fund Com- missioner, Gujarat from (he operation of the said Scheme for a period of 3 (three) years.

SI.No Name & Address of the the Establish) Effective date

Bent Code No.

1. M/s. Vikram Steel Pvt. Ltd., Garedia Kuva Road, Rajkot-360001.

2. M/s. Gopal Glass Works Ltd., Vill. Budasan Tal. Kadi, Dist. Mehsana, Gujarat.

3. M/s. Patel Bros. Works, 2 Bhakti Nagar , Station Plot, Rajkot-360002.

4. M/s. Visnagar Taluka Majoor Sahakari Mandli Ltd., Darbar Road, Visnagar-384315.

5. M/s. K. Rasik Lal and Co., Aji Industrial Estate, Bhavnagar Road, Rajkot-3

6, M/s. Amreli Jilla Madyastna Sahakari Bank Ltd., Amreli Gujarat (23 branches).

7. M/s. Gurukripa Foundor and Engineers, 2/3 Kainal Estate, Sukhramnagar, Ahmedabad-380023.

8. M /s. Gujarat Organics Ltd., Plot No. 127/1 .Industrial Estate, GIDC, Ankleshwar-393002.

C.P.F.C.'s File No.

of Exemption

5 3

GJ/222

4(135)99/DLI

1-1-97 to 31-12-99

GJ/1469

4(136)99/DL1 1-7-95 to 30-6-90

& 1-7-98 to 30-6-2001

4(137)99/DL1 GJ/1822

1-12-96 to 30-11-99

4(138)99/DLI GJ/1829

1-3-96 to

28-2-99 So

1-3-99 to 28-2-2002

GJ/1924

4(139)99/DLI 1-3-96 to 28-2-99

1-3-99 to 28-2-2002

GJ/4670

1-4-96 to

14(I40)99/DLI

31-3-99

GJ/7565

4(141)99/DLI 1-1-96 to

31-12-98

& 1-1-99 to 31-12-2001

4(142)99/DLI GJ/9462

1-3-99 to 28-2-2002

PART III—SEC. 4] THE GAZETTE OF INDIA, SEPTEMBER 25, 1999 (ASVINA 3, 1021) 3289 3 4 5 2 1

M/s. The Coop. Bank of Rajkot Ltd., 9.

Sahakar Sarita, Panchnath Road, Rajkot-360001.

10. M/s Shree Chemical Industries,

313/3, GIDC Industrial Estate, Ankleshwar-393002

M/s Pure Chem Pvt. Ltd ,

11.

4717 GIDC Nr. Telephone Exchange, Ankleshwar-393002

SCHEDULE II

1. The employer in relation to each of the said establish- ments (hereinafter referred to as the employer) shall submit such returns to the Regional Provident Fund Commissioner concerned and maintain such account and provide such facili- ties for inspection, as the Central Provident Fund Commis- sioner may direct from time to time,

2. The employer shall pay such inspection charges as the Central Government, may from time to time, direct under clause (a) sub-section (2A) of section 17 of the said Act. within 15 days from the close of every month.

3. All expenses involved in the administration of the Group Insurance Scheme, including maintenance of account!, sub- mission of returns, payment of insurance premia, transfer of accounts, payment of inspection charges etc. shall be borne by the employer.

4. The employer shall display on the Notice Board of the establishment, copy of the rules of the Group Insurance Scheme as approved by the Central Government / Central Provident Fund Commissioner as and when amended along- with translation of the salient feature thereof in the language of the majority of the employees.

5. Whereas an employee, who is already a member of the Employees' Provident Fund or the Provident Fund of an establishment exempted under the said Act, is employed in his establishment the employer shall immediately admit him as a member of the Group Insurance Scheme and pay neces- sary premium in respect of him to Life Insurance Corpora- tion of India.

6. The employer shall arrange to enhance the benefits available to the employees under the Group Insurance Scheme appropriately if the benefits available to the employees under the said Scheme are enhanced so that the benefits available tinder the Group Insurance Scheme are more favourable to the employees than the benefits admissible under the said Scheme.

7. Notwithstanding anything contained in the Group Insurance Scheme, if on the death of an employee the amounts payable under the Scheme be less than the amount that would be payable had the employees been covered under the said Scheme, the employer shall pay the difference to the nommee(s)/legal heir(s) of the employees as compensa- tion.

8. No amendment of the provisions of the Group Insu- rance Scheme shall be made without the prior approval of the Regional Provident Fund Commissioner concerned and where any amendment is likely to effect adversely the interest of the employees' his approval, give a reasonable opportu- nity to the employees to explain their point of view.

9. Therefore, any reason the employer of the said estab- lishment do not remain covered under the Group Insurance GJ/24333

4(143)99/DLI 1-5-95 to

30-4-98 &.

1-5-98 to 30-4-12001

GJ/24694

4(144)99/DLI 1-1-99 to 31-12-12001

GJ/31089

4(145)99/ DLI 1-3-99 to 28-2-2002

Scheme of the life Insurance Corporation of India as already adopted by the said establishment, for the benefit* to the employees under this Scheme are reduce in any manner, the exemption shall be liable to be cancelled.

10. Where for any reason, the employer fails to pay the premium etc., within the due date, as fixed by the Life Insurance Corporation of India and the policy is allowed to lapse the exemption shall be liable to be cancelled.

11. In ease of default, if any made by the employer in payment of premium the responsibility for payment of assu- rance benefits to the nominee(s)/legal heir(s) of deceased member who would have been covered under the said Scheme but for grant of this exemption shall be that of the employer.

12. Upon the death of the member covered under the Group Insurance Scheme, this Life Insurance Corporation of India shall ensure prompt payment of the turn assured to the nominee(s)/Legal heir (s) of the deceased member entitl- ed for it and in any case within one month from the receipt of claims complete in all respects.

A. K. JAIN Rational Provident Fund Commissioner

No. 2/l959/DLI/Exemp./89/Pt. 1/3057.—WHEREAS the employers of the establishments mentioned in Schedule 1 (hereinafter referred to as the said establishment) have applied for exemption under Sub-Section 2(A) of Section 17 of the Employees' Provident Fund & Miscellaneous Pro- vision Act, 1952 (19 of 1952) (hereinafter referred to at the said Act).

AND WHEREAS, the Central Provident Fund Commis- sioner is satisfied that the employees of the said establish- ments are without making any separate contribution or pay- ment of premium, in enjoyment of benefits under the Group Insurance Scheme of the Life Insurance Corporation of India in the nature of Life Insurance which are more favourable to such employees than the benefits admissible under the Employees' Deposit Linked Insurance Scheme, 1976 (herein- after referred to as the said Scheme).

Now, therefore, in exercise of the powers conferred by sub-section 2(A) of Section 17 of the said Act and sub- ject to the conditions specified in Schedule-II annexed hereto, the Central Provident Fund Commissioner hereby exempt each of the said mentioned establishment in schedule-I from the date mentioned against each, from which date re- laxation order trader para 28(7) of the said Scheme has been granted by the Regional Provident, Fund Commissioner. A, P. from the operation of the said Scheme for a period of 3 (three) years.

3290 THE GAZETTE OF INDIA, SEPTEMBER 25, 1999 (ASVINA 3, 1921) [PART III—SEC. 4

Name & Address of the Establishment SI.No |

1. M/s. Indian Hospitals Corporation Ltd., Apollo Hospitals Complex, Jubilee Hills, Hyderabad-500033.

M/s. Shri Sai Kasturi Enterprises P. Ltd, 62-2-24, PATAMATA Lanka, Vijayawada-10.

M/s Shri Shakti LPG Ltd.,

4th Floor, Venus Plaza Begumpet, Hyderabad-500016, Andhra Pradesh.

4. M/s. The Nellore Dist. Co.op. Milk Producers Union Ltd., Nellore-524001.

M/s. Model Chit Corporation Ltd., 2nd Floor, Model House, Punjaguda, Hyderabad-500082.

SCHEDULE-II

1. The emplpyor in relation to each of the said establish- ments (hereinafter referred to as the employer) shall submit such returns to the Regional Provident Fund Commissioner concerned and maintain such account and provide such faci- lities for inspection, as the Central Provident Fund Commis- sioner may direct from time to time.

2. The employer shall pay such inspection charges as the Central Government may, from time to time, direct under clause (a) sub-section (2A) of Section 17 of the said Act, within 15 days from the close of every month.

3. All expenses involved in the administration of the Group Insurance Scheme, including maintenance of account, submission of returns, payment of insurance premia, transfer of accounts, payment of inspection charges etc. shall be borne by the employer.

4, The employer shall display on the Notice Board of the establishment, a copy of the rules of the Group Insurance Scheme as approved by the Centrn1 Government /Central Provident Fund Commissioner as and when amended along- with translation of the salient features thereof in the language of the majority of the employees.

5. Whereas an employee, who is already a member of the employees Provident Fund or the Provident Fund of an establishment exempted under the said Act, is employed in his establishment the employer shall immediately admit him as a member of the Group Insurance Scheme and pay necessary premium in respect of him to Life Insurance Corporation of India.

C.P.F.'s File No. Code No.

Effective Date of Exemption

1/87/99/EDLI AP/24116 1-10-98 to 30-9-2001

1/93/99/EDLI AP/33091

1-12-99 to 30-11-2001

AP/28970

1/94/99/EDLI 1-4-98 to 3-1-3-2001

1/95/99/EDL1 AP/22040

1-3-92 to 28-2-95

1-3-95 to 28-2-98

1-3-98 to 28-2-2001

AP/28956

1/96/99/EDLI 1-9-97 to 31-8-2000

7. Notwithstanding anything contained in the Group Insurance Scheme, if on the death of an employees the amounts payable under the scheme be less than the amount that would be payable had the employees been covered under the said Scheme, the employer shall pay the difference to the nominee (s) / legal heir(s) of the employees as compensa- tion.

8. No amendment of the provisions of the Group Insu- rance Scheme shall be made without the prior approval of the Regional Provident Fund Commissioner concerned and where any amendment is likely to effect adversely the interest of the employees, his approval, give a reason- able opportunity to the employees to explain their point of view.

9. Therefore, any reason, employer of the said estab- lishment do not remain covered under the Grout) Insurance Scheme of the Lift Insurance Corporation of India as al- ready adopted by the said establishment, for the benefits to the employees under this Scheme are reduced in any manner, the exemption shall be liable to be cancelled.

10. Where for any reason, the employer fails to pay the premium etc. within the due date, as fixed by the Life Insurance Corporation of India, and the policy in allowed to lapse, the exemption shall be liable to be cancelled.

11.. In case of default, if any made by the employer in payment of premium the responsibility for payment of assurance benefits to the nominee (s) / legal heir (s) of deceased member who would have been covered under the said Scheme but for grant of this exemption, shall be that of the employer,

12. Upon the death of the member covered under the Group insurance Scheme, this Life Insurance Corporation of India shall ensure prompt payment of the sum assured to the nominee (s) / Legal heir (s) of the deceased member entiled for it and in any case within one month from the receipt of claims complete in all respects.

6. The employer shall arrange to enhance the benefits available to the employees under the Group Insurance Schemea p p r o p r i a t e lyif the benefits available to the employees under the said Scheme are enhanced so that the benefits available under the Group Insurance Scheme art more favourable to the employees than the benefits

admissible under the said Scheme.

A. K. JAIN Regional Provident Fund Commissioner

PART III—SEC. 4] THE GAZETTE OF INDIA, SEPTEMBER 25, 1999 (ASV1NA 3, 1921) 3291

No, 2/1959/DLI/Exemp./89/Pt.I/3068.—WHEREAS the employer of the establishment mentioned in Schedule-I (hereinafter referred to as the said establishment) have applied for exemption under Sub Section 2(A) of Section 17 of the Employees' Provident Fund and Miscellaneous Provisions Act, 1952 (19 of 1952) hereinafter referred to as the said Act.

AND WHEREAS, the Central Provident Fund Commis- sioner is satisfied that the employees of the said establish- ments are, without making any separate contribution or pay- ment of premium, in enjoyment of benefits under the Group Insurance Scheme of the Life Insurance Corporation of India in the nature of Life Insurance which are more favourable to such employees than the benefits admissible under the Employees' Deposit Linked Insurance Scheme, 1976 (herein- after referred to as the said Scheme).

NOW. THEREFORE, in exercise of the powers conferred by Sub-Section 2(A) of Section 17 of the said Act and subject to the conditions specified in Schedule-II annexed hereto, the Central Provident Fund Commissioner hereby exempt each of the said mentioned establishments in Sche- dule-I from the date mentioned against each from which date relaxation order under para 28(7) of the said Scheme has been granted by the Regional Provident Fund Commissioner, Surat from the operation of said Scheme For a period of 3 (three) years

Sl.No..

Name & Address of the Establishment

M/s. Janab Qutbuddin Muallim Boy's

~7.

Primary School,

Sodagarwad, Surat.

2. M/s. Janab Babubhai Sopariwala Girls

Primary School.

Gopipura, Surat.

3, M/s. Nandosal Industries,

Plot No. 480617, G1DC,

Ankleshwar-393002.

4. M/s. P.H. Patel Industrial Manufacturers Pvt. Ltd.

Kamla Park Housing Society,

Station Road,

Navsari -396445.

M/s. Crystal Forms Ltd.,

4104, GIDC,

Ankleshwar-393002,

M/s. Sarvajanik College of Engineering, 6.

Technology, R.K. Desai Marg,

Athwa Lines, Surat.

M/s. Kdiam, 806,

Belgaim Tower, Opp. Liniar Bus Stand,

Ring Road, Surat.

SCHEDULE-II

1. The employer in relation to each of the said establish- ments (hereinafter referred to as the employer) shall submit such returns to the Regional Provident Fund Commissioner concerned and maintain such account and provide such faci- lities for inspection, as the Central Provident Fund Commis- sioner may direct from time to time.

2. The employer shall pay such Inspection charges as the Central Government may from time to time, direct under clause (a) sub-section 2(A) of Section 17 of the said Act, within 15 days from the close of every month.

4. The employer shall display on the Notice Board of the establishment, copy of the rules of the Group Insurance Scheme as approved by the Central Government/Central Pro- vident Fund Commissioner as and when amended alongwith translation of the salient features thereof in the language of the majority of the employees.

18—259GI/99

Effective Date C.P.F.C 's File Code No.

of Exemption No.

4/125/99/DLl GJ/13584

1-12-98 to 30-11-2001

4/126/99/DLI 1-12-98 to

GJ/13820

30-11-2001

4/127/99/DLI 1-10-98 to

GJ/17719

30-9-2001

GJ/17889

4/128/99/DLI 1-10-98 to

30-9-2001

GJ/30479

4/131/99/DLl l-12-98 to 30-11-2001

4/132/99/DLI GJ/30721

1-12-98 to

30-11-2001

1-9-98 to

GJ/31606

4/133/99/DLI

31-8-200

6. The employer shall arrange to enhance the benefits available to the employees under the Group Insurance Scheme appropriately if the benefits available to the employee under the said Scheme are enhanced so that the benefits available under the Group Insurance Scheme are more favourable to the employees than the benefits admissible under the said Scheme.

7. Notwithstanding anything contained in the Group Insu- rance Scheme, if on the death of an employee the amounts payable under the Scheme be less than the amount that would be payable had the employee been covered under the said Scheme, the employer shall pay the difference to the nominee(s)/Legal heir(s) of the Employee as compensation.

.292 THE GAZETTE OF INDIA, SEPTEMBER 25, 1999 (ASVINA 3, 1921) [PART III—SEC. 4

8. No amendment of the provisions of the Group Insurance Scheme shall be made without the prior approval of the Regional Provident Fund Commissioner concerned and where any amendment is likely to affect adversely the interest of the Employees. The Regional Provident Fund Commissioner shall before giving his approval, give a reasonable opportunity to the employee to explain their point of view.

9.. Therefore, any reason, the employer of the said establish- ment do not remain covered under the Group Insurance Scheme of the Life Insurance Corporation of India as already adopted by the said establishment, of the benefits to the employees under this Scheme are reduced in any manner, the exemption shall bo liable to be cancelled.

.0: Where for any reason, the employer fails to pay the premium etc. within the due date, as fixed by the Life Insurance Corporation of India, and the policy is allowed to lapse, the exemption shall be liable to be cancelled.

11. In case of defaults, if any made by the employer in payment of premium the responsibility for payment of assu- rance benefits to the nominee(s)/legal heir(s) of deceased member who would have been covered under the said Scheme but for the grant of this exemption shall be that of the employer.

12. Upon the death of the member covered under the Group Insurance Scheme, (his life Insurance Corporation of India shall ensure prompt payment of the sum assured to the nominee(s) / Legal heir(s) of the deceased member entitled for it and in any case within one month from the receipt of claims complete in all respect.

A. K. JAIN Regional Provident Fund Commissioner No. 2/1959/DLI/Exemp./89/Pt 1/3.081.—Whereas the employer of the establishments mentioned in Schedule-I (hereinafter referred to as the said establishment) have ap- plied for exemption under sub-section (2A) of Section 17 of the Employees' Provident Fund & Miscellaneous Provisions Act. 1952 (19 of 1952) hereinafter referred to as the said Act.

And whereas the Central Provident Fund Commissioner, is satisfied that the employees of the said establishments are, without making any separate contribution or payment of pre- mium in enjoyment of benefits under the Group Insurance Scheme of the Life Insurance Corporation of India in the nature of Life Insurance which are more favourable to such employees than the benefits admissible under the Employees' Deposit Linked Insurance Scheme, 1976 (hereinafter referred to as the said Scheme).

Now, therefore, in exercise of the powers conferred by Sub-Section 2 (A) of the Section 17 of the said Act and subject to the conditions specified in Schedule II annexed hereto, the Central Provident Fund Commissioner hereby exempt each of the said mentioned establishments in Schedule- 1 from the date mentioned against each, from which date relaxation order under para 28(7) of the said Scheme has been granted by the R.P.F.C A. P. from the operation of the said Scheme for a period of 3 (three) years.

No. Name & Address of the Establishment Code No.

M/s. Tejaswi Industries, Vadlamudi Cross Road, Vadlamudi-52213. M/s. Sri Lakshmi Ganapathi Engineering Works, Industrial Estate, Sultanabad Tenali-522202(AP). M/s. Operation Mobilisation India, Logor Bhawan Medical Road, Zeedimetla Secunderabad, Hyderabad. M/s. Samrakshana Electricals Ltd., No. 127, Hydernagar, Kukatpally, Hyderabad-500072 (AP).

SCHEDULE-II

1. The employer in relation to each of the Mid eatablish- ment (hereinafter referred to as the employer) shall submit such returns to the Regional Provident Fund Commissioner concerned and maintain such accounts and provide such faci- lities for inspection, as the Central Provident Fund Commis- sioner may direct from time to time.

2. The employer shall pay such inspection charges as the Central Government may, from time to time, direct under clause (a) sub-section 2(A) of Section 17 of the laid Act, within 15 days from the clo"e of every month.

3. All expenses Involved in the administration of the Group Insurance Scheme, including maintenance of accounts, submission of returns, payment of insurance premia, transfer of accounts, payment of inspection charges etc. shall be borne by the employer

C.P.F.C. s File No.

Effective Date of Exemption

1/91/99/DLI AP/27849

1-2-97 to 31-1-2000

AP/16411

1/92/99/DLl 1-8-96 to 31-7-99

AP/29715

1/89/99/DLI 1-10-98 to 30-9-2001

AP/21874

1/90/99/DLI 1-10-97 to 30-9-2000

4. The employer shall display on the Notice Board Of the establishment, copy of the rules of the Group Insurance Scheme as approved by the Central Government/Central Provident Fund Commissioner as and when amended along with translation of the salient features thereof in the language of the majority of the employees.

5. Whereas an employee, who is already a member of the Employees' Provident Fund or the Provident Fund of as establishment exempted under the said Act, is emloyed in his establishment the employer shall immediatelyr admit him as member of the Group Insurance Scheme and pay necessary premium in respect of him to Life Insurance Corporation of India.

6. The employer shall arrange to enhance the benefits available to the employees under the Group Insurance Scheme appropriately if the benefits available to the employees under the said Scheme are enhanced so that the benefits available under the Group Insurance Scheme are more favourable to the employees than the benefits admissible under the laid Scheme,

PART III—SEC. 4] THE GAZETTE OF INDIA, SEPTEMBER 25, 1999 (ASVINA 3, 1921) 3293

7. Notwithstanding anything contained in the Group Insu- rance Scheme, if on the death of an employee the amount payable under the Scheme be less than the amount that would be payable had the employee been covered under the said Scheme, the employer shall pay the difference to he nominee (s) / Legal heir (s) of the Employee as competi- tation.

8. No amendment of the provisions of the Group Insu- rance Scheme shall be made without the prior approval of the Regional Provident Fund Comissioner concerned and where any amendment is likely to effect adversely the interest of the employees' his approval, give a reasonable op- portunity to the employees to explain their point of view.

9. Therefore, any reason, the employer of the said esta- blishment do not remain covered under the Group Insurance Scheme of the Life Insurance Corporation of India as already adopted by the said establishment, for the benefits to the employees under this Scheme are reduced in any manner, the exemption shall be liable to be cancelled.

10. Where for any reason, the employer fails to pay the premium etc. within the due date, as fixed by the Life Insu- rance Corporation of India, and the policy is allowed to lapse, the exemption shall liable to bo cancelled.

11. In case of defaults, if any made by the employer in payment of premium the responsibility for payment of assu- rance benefits to the nominee(s)/legal heir(s) of deceased member who would have been covered under the said scheme but for the grant of this exemption, shall be that of the employer.

12. Upon the death of the member covered under the Group Insurance Scheme, this Life Insurance Corporation of India shall ensure prompt payment of the sum assured to the nominee(s)/legal heir(s) of the deceased member entitled for it and in any case within one month from the receipt of claims complete in all respects.

A. K. JAIN Regional Provident Fund Commissioner

No. 2/1959/DLI/Exemp.89/Pt.I/3091.—WHEREAS the employers of the establishments mentioned in Schedule-I (hereinafter referred to as the said establishment) have ap- plied for exemption under sub-section 2(.A) of. Section 17 of the Employees' Provident Fund & Miscellaneous Provisions Act, 1932 (19 of 1952) (hereinafter referred to as the said Act).

Ana whereas the Central Provident Fund Commissioner, is satisfied that the employees of the said establishments are, without making any separate contribution or payment of pre- mium in enjoyment of benefits under the Group Insurance Scheme of the Life Insurance Corporation of India in the nature of Life Insurance which are more favourable to such employees than the benefits admissible under the Employees' Deposit Linked "Insurance Scheme 1976 (hereinafter referred to as the said Scheme).

Now, therefore, in exercise of the powers conferred by sub- section 2(A) of Section 17 of the said Act in continuation of Government of India the Ministry of Labour/C.P.F.C. Notification No. and date shown against the name of each of the said establishments from the conditions specified in Schedule -II annexed hereto the Central Provident Fund Commissioner hereby exempt each of the said establishment from the operation of all the provisions of the said Scheme for a further period of 3 years as Indicated is attached Sche- dule-I against their names.

Code No.

Name & Address of the

Sl.

Establishment

No.

Date of Expiry

Period for Exemption

C.P-RC.'s File No.

NO.And Date of Govt. Notification Vide which Exemption was granted/ extemded

KN/3532

28-2-90

2/3041 /90/DLI

dated 28-2-90

M/s. G r o up System Ltd., Kirloskar Electric Co. Ltd., Unit X Bellary Road, Hebbal Bangalore-24.

1-3-90 to 28-2-93

& 1-3-96 to 28-2-99

dated —Nil

KN/3657

M/s India Packaging Products (P) Ltd. Post Box No. 2480, 5th Mile, Bellary Road, Bangalore-24.

SCHEDULE-II

1 The employer in relation to each of the said establish- ments (hereinafter referred to as the employer) shell submit such returns to the Regional Provident Fund Commissioner concerned and maintain such account and provide such facili- ties for inspection, as the Central Provident Fund Commis- sioner may direct from time to time.

21 The employer shall pay such inspection charges as the

Central Govt may, from time to time, direct under clause (a) sub-section (2A) of Section 17 of the Said Act, within 15 days from the close of every month.

28-2.90 1-3-90 to 2/782/DLI/KN/82

&. 1-3-93 to 29-2- 96

& 1-3-96 to 28-2-99

3. All expenses involved in the administration of the Group Insurance Scheme including maintenance of accounts, submission of returns, payment of insurance premia, transfer of accounts, payment of inspection charges etc. shall be borne by the employer.

4. The employer shall display on (he Notice Board of the establishment copy of the rules of the Group Insurance Scheme as approved by the Central Goverment /Central Provident Fund Commissioner as and when amended alongwith trans- lation of the salient features thereof in the language of the majority of the employees.

3294 THE GAZETTE OF INDIA, SEPTEMBER 25, 1999 (ASVINA 3, 1921) [PART III—SEC. 4

5. Whereas an employee, who is already a member of the Employees' Provident Fund or the Provident Fund of an establishment exempted under the said Act, is employed in his establishment the employer shall immediately admit him as a member of the Group Insurance Scheme and pay necessary premium in respect of him to life Insurance Cor- poration of India.

G. The employer shall arrange to enhance the benefits available to the employees under the Group Insurance Scheme appropriately if the benefits available to the employees under the said Scheme are enhanced so that the benefits available under the Group Insurance Scheme are more favourable to the employees than the benefits admissible under the said Scheme.

8. No amendment of the provisions of the Group Insurance Scheme shall be made without the prior approval of the Regional Provident Fund Commissioner concerned and where any amendment is likely to effect adversely the interest of the employees, his approval, give a reasonable opportu- nity to the employees to explain their point of view.

9. Therefore any reason, the employer of the said establish- ment do not remain covered under the Group Insurance Scheme of the Life Insurance Corporation of India as already adopted by the said establishment, for the benefits to the employees under this Scheme are reduced in any manner the exemption shall be liable to be cancelled.

10. Where for any reason, the employer fails to pay the premium etc. within the due date, as fixed by the Life Insurance Corporation of India, and the policy is allowed to lapse, the exemption shall be liable to be cancelled.

11. In case of default, if any made by the employer in payment of premium the responsibility for payment of assu- rance benefits to the nominee(s)/legal heir(s) of deceased member who would have been covered under the said scheme bat for the grant of this exemption, shall be that of the employer.

12. Upon the death of the member covered under the Group Insurance Scheme, this life Insurance Corporation of India shall ensure prompt payment of the sum assured to the nominee(s)/Legal heir(s) of the deceased member entitled for it and in any case within one month from the receipt of claims complete in all respects.

A. K. JAIN Regional Provident Fund Commissioner

S.O. Whereas M/s. MAR Thoma Mission Hospital Code No. KR/KK/11519 has been granted ex- tension/exemption under Section 17(2A) of the EPF&MP Act, 1952 (19 of 1952) (hereinafter referred to as the said Act).

And whereas the employer renewed the master policy upto 1-10-97 and reverted back to implementing statu-

tory E.D.L.I. Scheme.

In view of the above I.C.P.F.C. cancelled the above said w.e.f. 1-10-97.

A.K. JAIN Regional Provident Fund Commissioner

S.O. Whereas M/s. Unicorn Industries Secunderabad code No. AP/Hy/3898 has been granted exten- sion/exemption under Section 17 (2A)of the EPF&MP Act,1952(19ofl952)(hereinafter referred to as the said Act).

And whereas the employer renewed the master policy upto 31-10-98 and reverted back to implementing

statutory E.D.L.I. Scheme.

In view of the above I.C.P.F.C. cancelled the above said w.e.f. 1-11-98.

No. 2/1959/DLI/Exempt./89/Pt. 1/4011.—WHEREAS the employer of the establishment mentioned in Schedule-I (hereinafter referred to as the said establishment) have applied for exemption under Sub-Section 2 (A) of Section 17 of the Employees' Provident Funds and Miscellaneous Provisions Act, 1952 (19 of 1952) (hereinafter referred to as the said Act),

AND WHEREAS the Central Provident Fund Commis- sioner is satisfied that the employees of the said establish- ments are without making any separate contribution or payment of premium, in enjoyment of benefits under the Group Insurance Scheme of the Life Insurance Corporation of India in the nature of Life Insurance which are more favourable to such employees than the benefits admissible

A.K. JAIN Regional Provident Fund Commissioner

under the employees' Deposit Linked Insurance Scheme, 1976 (hereinafter referred to as the said scheme).

Now, therefore, in exercise of the powers conferred by Sub-Section 2 (A) of the Section, 17 of the said Act and subject to the conditions specified in Schedule-II annexed hereto, the Central Provident Fund Commissioner hereby exempt each of the said mentioned establishments in Sche- dule-l from the date mentioned against each from which date relaxation order under Para 28(7) of the said Scheme has been granted by the Regional Provident Fund Com- missioner, A P. from the operation of the said Scheme for a period 3 years.

No. Name & Address of the Establishment SI..No

M/s. Hyderabad Industrial Security Academy, Punjagutta Colony, Hyderabad. M/s- Madhaya Roller Flour Mills, 5.9.30, Basheer Bagh, Hyderabad-500029.

Code No.

C.P.F.C.s File

No.

Effective Date of Exemption

AP/29892

1/84/9 9/AP/EDLI 1-10-97 to 30-9-2000

AP/18807

1/83/99/EDLI 1-6-94 to 31-5-97 & 1-6-97 to 31-5-2000

PART III-SEC . 4] THE GAZETTE OF INDIA, SEPTEMBER 25, 1999 (ASVINA 3, 1921) 3295

Name & Address of the

Code No.

Period for

No. and Date of Govt,

Establishment

Exemption

CP.F.C's File No.

Date of Expiry

2/3025/90/EDLI

M/s. Nagarjun Grameen Bank Post Box No.6, Khammam, Andhra Pradesh- 507001.

2/3335/90/EDLI

M/s, AroggavaramEye Hospital, S o m e ta , Srikakulam Dist., Andhra Pradesh

19—259 GI/99

3296 THE GAZETTE OF INDIA, SEPTEMBER 25, 1999 (ASVINA 3, 1921) [PART III—SEC. 4 4 7 3 2 5 6 1 29-8-97

AP/6236

3, M/s. Modern Proteins Ltd., Plot No. 1-12, Industrial Estate, Kurnool-518003A.P.

30-11-97

2/2408/90/EDLI

1-12-97 to 30-11-2000

7-4-93

AP/18791

4. M/s Regency Ceramics Ltd., 5-8-356, N.N. House, Chiragali Lane, Hyderabad-500001.

30-11-95

2/3734/90/EDLI

1-12-95 to 30-11-98 & 1-12-98 to 30-11-2001

I9-12-91

AP/3639

5. M/s H.M.T. Bearings Ltd., Mouja Ali, Hyderabad-500040

SCHEDULE-II

1. The employer in relation to each of the said establish- ments (hereinafter referred to as the employer) shall submit such returns to the Regional Provident Fund Commissioner concerned and maintain such accounts and provide such facilities for inspection, as the Central Provident Fund Commissioner may direct from time to time.

2. The employer shall pay such inspection charges as the Central Government may, from time to time, direct under clause- (a) sub-section (2A) of section 17 of the said Act, within 13 days from the close of every month.

3. All expenses involved in the administration of the Group Insurance Scheme, including maintenance of accounts, sub- mission of returns, payment of insurance premia, transfer of accounts, payment of inspection charges etc. shall be borne by the employer.

4. The employer shall display on the Notice Board of the establishment, copy of the rules of the Group Insurance Scheme as approved by the Central Government /Central Provident Fund Commissioner as and when amended along- with translation of the salient features thereof in the langu- age of the majority of the employees.

5. Whereas an employee, who is already a member of the Employees' Provident Fund or the Provident Fund of an establishment exempted under the said Act, is employed in bis establishment the employer shall immediately admit him as a member of the Group Insurance Scheme and pay neces- sary premium in respect of him to Life Insurance Corpora- tion of India.,

6. The employer shall arrange to enhance the benefits available to the employees under the Group Insurance Scheme appropriately if the benefits available to the employees under the said Scheme are enhanced so that the benefits available under the Group Insurance Scheme are more favourable to the employees than the benefits admissible under the said Schema.

7. Notwithstanding anything contained in the Group Insurance Scheme, if on the death of an employee the amount payable under the Scheme be less than the amount that would be payable had the employee been covered under the said Scheme, the employer shall pay the difference to the nominee(s) /Legal heir(s) of the Employee as compensa- tion.

2/1305/90/EDLI 10-12-91 20-12-91 to 19-12-94

& 20-12-94 to 19-12-97

& 20-12-97 to

19-12-2000

8. No amendment of the provisions of the Group Insu- rance Scheme shall be made without the prior approval of the Regional Provident Fund Commissioner concerned and where any amendment is likely to effect adversely the interest of the employee. The Regional Provident Fund Commissioner shall before giving his approval, give a reasonable opportu- nity to the employees to explain their point of view.

9. Therefore, any reason, the employer of the said estab- lishment do not remain covered under the Group Insurance Scheme of the Life Insurance Corporation of India as already adopted by the said establishment, for the benefits to the employees under this Scheme are reduced in any manner, the exemption shall be liable to be cancelled.

11, In case of default, if any, made by the employer in payment of premium the responsibility for payment of assu- rance benefits to the nominee(s)/legal heir(s) of deceased member who would have been covered under the said scheme but for the grant of this exemption, shall be that of the employer.

12. Upon the death of the member covered under the Group Insurance Scheme, this life Insurance Corporation of India shall ensure prompt payment of the sum assured to the nominee (s) /legal heir (s) of the deceased member entitled for it and in any case within one month from the receipt of claims complete in all respect,

A. K. JAIN Regional Provident Fund Commissioner

THE INSTITUTE OF CHARTERED ACCOUNTANTS OF INDIA

New Delhi-110002, the 6th September 1999

(CHARTERED ACCOUNTANTS)

No. l-CA(5)/50/99.—In pursuance of sub-Section (5) of Section 18 of the Chartered Accountants Act, 1949, a copy of the Report and the Audited Accounts of the Council for the year ended 3 st March, 1999 is hereby published for general information.

ASHOK HALDIA. Secy.

PART III - SEC . 4] THE GAZETTE OF INDIA, SEPTEMBER 25, 1999 (ASVINA 3, 1921) 3297

Upto 17th January, 1999 18* January, 1999 onwards Shrl Rahul Roy, FCA Shri S.P. Chhajed, FCA

Ahmedabad New Delhi Nagpur New Delhi Calcutta Mumbal Ludhlana New Delhi New Delhi Chennai Allahabad Mumbai New Delhi Calcutta Mumbai Kochi New Delhi New Delhi Kanpur Bangalore Chennai Calcutta Mumbai New Delhi Bhubaneswar New Delhi Hyderabad Jaipur Hyderabad Mumbai Pune New Delhi Shrl A.C. Shah Shri A.K. Chakrabarti* Shri Ashok K. Chandak Shri Amarjit Chopra Shri Amitav Kotharl* Smt. Bhavna G. Doshi Shrl D.K. Gupta Shrl G.C. Srlvastave* (w.e.f. 8th May, 1998) Shri G. Muthuramakrlshnan* (upto 7th May, 1998) Shri G. Sitharaman Shrl H.G.Agrawal* Shrl H.N. Motiwalla Shri Jainder Singh* (upto 14* January, 1999) Shri K.P. Khandelwal Shri K.S. Vlkamsey Shrl M.C. Joseph Shrl M.M. Khanna Shrl N.D. Gupta Shri N.K. Gupta Shrl N. Nltyananda Shrl R.Bupathy Shrl Rahul Roy Shrl R.S. Adukla Shrl S. Balasubramanlan* (w.e.f. 15th January, 1999) Shrl S.C. Bhadra Shrl S.C. Gupta* Shrl S. Gopalakrishnan Shrl Sunil Goyal Shrl S.L Daga Shrl S.P. Chhajed Shrl S.V. Barve Shrl Vinod Jain

Shri Pradeep Aggarwal, FCA Shri R.K. Batra, FCA

New Delhi New Delhi

*Members nominated by the Central Government.

2 0 - 2 59 GI/99

3293 THE GAZETTE OF INDIA, SEPTEMBER 25, 1999 (ASVINA 3, 1921) [PART III—SEC. 4

The Council of the Institute of Chartered Accountants of India has great pleasure in presenting its 50th Annual Report for the year ended 31st March, 1999. The Institute, which was set up by an Act of Parliament on 1st July, 1949, entered into 50th year of Its existence during the year. The Council would congratulate its members and the students for the respect, which the profession commands today in the Society. This has been made possible by the expertise and the professional discipline and dedication of the members.

The Golden Jubilee Celebrations commenced with a function Inaugurated by the Hon'ble Shri Atal Behaii Vajpayee, Prime Minister of India on 1st July, 1998. Similar functions were organised all over the country by the Regional Councils and the branches.

This report covers the details on the activities of the Institute during the course of the year, relevant statistics relating to members and students, and also accounts of the Institute for the year 1998-99. However, Important activities of the Institute upto the end of 31st July, 1999 have also been briefly mentioned.

The Seventeenth Council consisting of 24 elected members and 6 members nominated by the Central Government was constituted on 18th January, 1998 for a period of three years upto 17th January, 2001.

During the year ended 31st March, 1999, the Council held 7 meetings spread over 22 days. The Institute reached an Important milestone by holding Its 200th meeting on 15th, 16th and 17th May, 1999 at Mumbai. To mark this historic occasion, a special meeting of the past and present Council Members was held on 15th May, 1999 before the commencement of the Council Meeting. Hon'ble Mr. Justice M.B. Shah, Supreme Court of India, was the Chief Guest. The occasion provided a valuable opportunity of having Interaction with the past Presidents and Council Members who had led the Institute in yester years. On the occasion, a compilation "Down Memory Lane" was also released by the Chief Guest.

On this historic occasion, Shri T.S. Krishna Murthy, Secretary, Department of Company Affairs, Ministry of Law, Justice & Company Affairs, addressed the Council members on 16th May, 1999.

The Council at Its 197th meeting held on 16th, 17th and 18* January 1999, constituted three Standing, three Adhoc/Special Purpose and various other Non-Standing Committees to deal with matters concerning the profession. A list of these Committees and their composition are given in APPENDIX I. During the year ended 31st March, 1999, 140 meetings were held of the various Committees of the Council as compared to 86 meetings during the year ended 3 1" March, 1998.

Shri Pradeep Aggarwal, FCA and Shri R.K. Batra, FCA are the Joint Auditors of the Institute for the year 1998-99. The Council wishes to place on record its appreciation of the services rendered by them.

This Committee looks after the maintenance of various registers pertaining to students/members/firms, admission, removal and restoration of members, consideration of matters relating to members Including issue of certificate of practice, all matters relating to students, Including according permissions to them, condonation of delay on the part of students/members/firms, matters connected with branches, and those connected with employees of the Institute, maintenance of accounts of the Institute etc.

It made recommendation to the Council on matters regarding (i) permission for sale/transfer of goodwill In the case of proprietary and partnership firms of chartered accountants to eligible member(s), (ii) change in firm name/seniority of firms in such cases including cases covered by reconstitution of firms In general, (III) Issuance of Constitution certificate as on 1st April of each year to the firm of chartered accountants, (iv) framing of guidelines on revival of firm name after the period during which names stood removed, (v) setting up of 5 new branches within the country and one chapter outside the country/ (vi) framing of a comprehensive library policy including computerisation of library records, (vii) revision of pay scale of employees, exploring the feasibility of introducing welfare schemes for employees of the Institute, (viii) face lift of the premises/buildings of the Institute, (Ix) strengthening office Infrastructure, (x) computerisation of the records/activities, (xi) use of Information technology in a phased manner, (xii) organising human resource development (HRD) programmes and its follow up etc.

4.2.1 This Committee has endeavoured to make use of rapid advancements in the field of Information Technology. Steps have been undertaken to reduce the time Involved between acceptance of examination application forms, declaration of results, to the extent possible, by suitably modifying the various processes in tune with the current systems development. These would not only bring in a great deal of relief to the students but also reduce the man power presently employed. Arising out of better/effective utilisation of Information Technology, results and mark sheets of the Examinations were displayed on the Website of the Institute thereby declaring the results all over the country almost simultaneously. The results were also communicated through Interactive Voice Response System. Efforts are on to process to review and recast the existing system and use of computers in different stages of processing.

4.2.2 The Chartered Accountants Final and Intermediate Examinations were held in May, 1998 in 57 centres and in November, 1998 in 65 centres. The Foundation Examination was held in May, 1998 in 56 centres and in November, 1998 in 64 centres.

3300 THE GAZETTE OF INDIA, SEPTEMBER 25, 1999 (ASVINA 3, 1921) [PART III—SEC. 4

4.2.4 The names of the candldates who were awarded prizes and certificates of merit in the examinations held In May/November, 1998 are given In APPENDIX I I I.

This Committee assists the Council In the maintenance of the status and standards of professional qualification awarded by the Institute. In discharging its avowed responsibility, this Committee met on 33 different occasions, and had hearings spanning 62 days covering the length and breadth of the country. While the Council has referred 60 cases to this Committee for enquiry, the Committee concluded its hearing in 77 cases including those referred in the previous years. The Committee proposes to complete all the pending cases as expeditiously as possible.

To simplify the procedure adopted In disciplinary proceedings, changes In the existing provisions of the Chartered Accountants Act and the Regulations framed thereunder have already been suggested to the Government for Its approval.

The statistics of cases placed before the Council and the Disciplinary Committee during the period from 1st April, 1998 to 31st March, 1999 are given In APPENDIX IV.

keeping in view the objective of achieving and sustaining excellence, the Council continued to lay greater emphasis on research, professional development, continuing professional education of members and education and training of students, through Its various non-standing Committees.

The Research Committee set up by the Council continued its endeavour in the fields of accounting, auditing and allied areas.

While a number of research activities have been undertaken/identified, a number of publications on accounting standards, auditing standards, expert opinions, background material for use in seminars, conferences and training programmes have also been brought out through the various Committees. These activities, inter alia, include the following :-

Recognising the need for a constant qualitative improvement in accounting and disclosures by enterprises in India, especially in the context of globalisation of business, the Institute has been according the highest priority to formulation of accounting standards. The efforts of the Accounting Standards Board, which has been entrusted with the task of formulation of accounting standards, have received statutory recognition with the promulgation of the Companies (Amendment) Ordinance, 1998 (the ordinance has since been superseded by the Companies (Amendment) Act, 1999). The Companies Act now requires companies to prepare their financial statements In accordance with the accounting standard prepared by the Institute and prescribed by the Central Government based on the recommendations of a special committee, viz. the National Advisory Committee on Accounting Standards. Pending the constitution of the aforesaid Committee, the responsibility of specifying the standards to be followed by the corporate world in preparing financial statements has been entrusted to the Institute. Accordingly, the Institute has specified all standards (i.e. AS 1 and AS 4 - AS 15) mandatory for this purpose. The above legislative changes are clearly a manifestation of the society's recognition of the crucial role

PART III—SEC. 4] THE GAZETTE OF INDIA, SEPTEMBER 25, 1999 (ASVINA 3, 1921) 3301

the Institute has played In propagating the accounting standards for adopting them In the preparation of financial statements.

AS 2, Valuation of Inventories, which was Issued In June 1981, reduced, to some extent, the diversity in Inventory valuation practices in vogue in the country. With a view to bringing about further uniformity, the Board has Issued a revised Standard on the subject, reducing the alternative choices. It has also Issued the exposure draft of a proposed accounting standard on * Borrowing Costs'.

The Board has also drawn up a plan to formulate accounting standards on several accounting Issues covered by the International Accounting Standards that are Increasingly assuming greater significance in the Indian context. To this end, different study groups have been constituted by the Board to prepare the preliminary drafts of proposed accounting standards. The details regarding the subjects assigned to the study groups and other projects under progress are given in para 1 of APPENDIX V.

The Auditing Practices Committee (APC) was constituted in 1982 to review the existing auditing practices in India and to develop Statements on Standard Auditing Practices (SAPs) for issuance by the Council of the Institute. In the process of developing the SAPs, the Committee tries to integrate the international auditing practices, viz., the International Standards on Auditing (ISAs), Issued by the International Federation of Accountants (IFAC), to the extent possible, in the light of conditions and practices prevailing In India. Besides, the APC also undertakes issuance of Guidance Notes on matters relating to auditing.

During the year under report, the Committee had issued SAP 16, on "Going Concern" and SAP 17, i.e., "Quality Control of Auditing Work" in July, 1999.

Keeping in view the year 2000 issue and its far-reaching implications on the position of the auditors, "Guidance Note on Auditor's Duties in relation to the Year 2000 (Y2K) Issue" has been issued for the guidance of the members.

Realising the underlying implications of the Auditor's Report, referred to in SEBI's Buy Back Regulations, 1998 on the members of the Institute, it will be issuing a Guidance Note on Auditor's Report under SEBI (Buy Back of Securities) Regulations, 1998 after discussing with SEBI.

It also proposes to issue SAPs on such topics on which the IFAC has Issued ISAs but on which no pronouncement has as yet been issued by the Institute. By the end of year 1999, it aims to substantially bridge the gap between the SAPs and the ISAs. For this purpose, study groups had been formed for preparing drafts of the proposed SAPs. It has already finalised Exposure Drafts of proposed SAPs on 'Knowledge of Business', 'Audit of Accounting Estimates' and 'Subsequent Events', which are being issued for public comments.

The Guidance Note on "The Right of Outsiders to Access the Working Papers of Auditors"; Clarification on Duties of Auditors Where Inventories are stated to be "(As valued and certified by the Management)" In the Financial Statements; and Guidance Note on Members' Duties Regarding Engagements Involving Compilation of Financial Statements, are in the process of being developed.

3302 THE GAZETTE OF INDIA, SEPTEMBER 25, 1999 (ASVINA 3, I921) [PART III—SEC.4

During the year, the Committee also responded to the issues referred to It by various outside bodies such as RBI, SEBI, BIFR etc.

The Committee is discussing with the RBI for finalising the draft of the financial statements of NBFCs.

In addition to the research work carried out by the other Committees, this Committee has been bringing out various publications In the form of research studies, technical guides to accounting & auditing in specific Industries, guidelines on Internal audit in respect of specific Industries, monographs etc. to provide guidance to our members in the performance of their duties In those areas.

The Committee has released "Computer based Budgeting in SYBASE - A Case Study of a Heavy Engineering Organisation" and a study on "Detection of Frauds - Some Case Studies". Fifth edition of the Compendium of Guidance Notes - Volume I has also been published.

Other Publications such as Study on (i) Corporate Restructuring, (ii) Audit and Certification of Information and Incomplete Records, (III) Brand Valuation, (iv) Accounting and Auditing in Non-Government Organisations/Private Development Agencies, revised editions of the Guidance Note on Accounting for Excise Duty and the Guidance Note on Accounting Treatment for MODVAT will be released shortly.

Several research projects on accounting, auditing, financial services and allied areas are at various stages of completion. The Committee has also identified several new subjects for research projects.

The Shield Panel - a sub-committee of the Research. Committee - has received entries for annual competition for award of Best Presented Accounts for the year 1997-98 for various categories i.e. companies/corporations, banks/financial Institutions etc., and has finalised the awards.

The detailed status of various research projects is given in APPENDIX V.

During the year 1998-1999, this Committee played a significant and pro-active role by responding to the various Corporate Legislative Bills/Ordinance introduced by the Government. Memorandum of Suggestions was submitted to bring about certain amendments to the Companies Act, 1956 pending passage of the Companies Bill, 1997 and another Memorandum of suggestions consequent to introduction of the Companies (Amendment) Ordinance, 1998 was also submitted. It is happy to report that most of the suggestions were taken into consideration and incorporated in the Companies (Amendment) Ordinance, 1999.

Consequent to introduction of Foreign Exchange Management Bill, 1998 Prevention of Money-Laundering Bill, 1998, it submitted Memorandum of Suggestions to the Parliamentary Standing Committee on Finance.

PART III - SEC .4] THE GAZETTE OF INDIA , SEPTEMBER 25,1999 (ASVINA 3,1921) 3303

Further, with the Department of Company Affairs, It organised a five-day training programme for Central Company Law Service Officer at Bangalore. The conduct of training programme was very much appreciated and acclaimed by Shri T.S. Krishnamurthy, Secretary, Department of Company Affairs, who was present as the Chief Guest for the valedictory function.

It took Initiative to release a Draft Note On Accounting Treatment for Buy-Back of Shares and the research project to review the Annual reports of Public Sector Undertakings was given top priority. It received interim report and expects to receive the final research report very shortly.

It submitted a note to the Department of Company Affairs about the practical difficulties Involved In submitting declaration of future solvency. It has also been proposed to submit a memorandum of Suggestions on Short Second Companies Bill 1999 to the Department of Company Affairs. Arrangements are finalised for holding Residential Course on Fiscal and Corporate Laws to be held at Mamallapuram near Chennai between October 7th to 10th October, 1999. At present the study of the functioning of some of the offices of Registrar of Companies is being carried and the report thereon is expected shortly.

As in the past, the Institute forwarded a Pre-Budget Memorandum containing its suggestions/view points, many of which had been accepted by the Central Government and also the Post-Budget Memorandum on the Finance Bill, 1999. A high level Workshop was conducted to consider the Union Budget, 1999 including proposals relating to direct and Indirect taxes. The Workshop was a success. The Departmental authorities appreciated the expertise of the members in the fields of direct and indirect taxes. The Finance (No.2) Act, 1998 has brought 12 more services under the Service tax net including services rendered by practising Chartered Accountants. In respect of this, the Institute has constant interaction with the Indirect Taxes authorities since the date of proposal. To give guidance to the members for proper compliance of the provisions regarding service tax, a publication entitled "Service Tax on services provided by Chartered Accountants - A Study" has been brought out. The guidance note on the revised tax audit forms viz. Forms 3CA, 3CB and 3CD is under preparation.

The Committee has taken several Initiatives and steps to broaden the scope and functions and accordingly its name was changed to "Committee on Financial Markets and Investors' Protection". To have closer interaction with institutions related to Financial markets, nominees from SEBI, Delhi Stock Exchange and National Stock Exchange were Inducted Into this Committee. It continued to maintain close Interaction with SEBI. It submitted its suggestions on Take-Over Code, 1997. A seminar on Capital Market In New Millennium was conducted at Lucknow and Derivatives (Index Futures) Training Programme was conducted at Mumbai on 13th & 14th February, 1999. This programme was appreciated by all including National Stock Exchange. Similar programme will be conducted in other metro regions also.

The Expert Advisory Committee has issued opinions on a number of queries received from members. It has published Volume XVII of the Compendium of Opinions' containing

3304 THE GAZETTE OF INDIA, SEPTEMBER 25, 1999 (ASVINA 3, 1921) [PART III—SEC.4

opinions issued between January, 1997 and January, 1998. The opinions issued by the Committee during the year are being compiled for publication in Volume XVIII.

Recognising the fact that members should acquire higher knowledge and skills to effectively discharge their professional responsibilities, this Committee continued Its efforts to enlarge the knowledge of the members on current and important topics.

Programmes were conducted on various topics such as Taxation of Deemed Sale Transaction; Central Sales Tax; Direct Taxation (with special reference to Corporate Restructuring and Real Estate Development Transactions); Project Finance; Credit Rating, Central Excise; Value Added Tax; Project Evaluation; EDP Audit - Pitfalls & Safeguards; System Audit (Study material for training courses by Computer Centre); Communication Skills - I; Bank Audit CD- ROM; Y2K Compliance; Bank Audit; and Two teleconferences on ' Y2K and Bank Audlf and ' Y2K Compliance' were also held.

Several programmes were conducted for the benefit of the members, some of them jointly with other associations. Particulars of such programmes and the topics covered are furnished in Para 8 of APPENDIX V.

The Committee continued to hold its Post Qualification Examinations for the benefit of the members and appropriate measures are being taken to popularise these courses. Computer centres of the Institute were operating at various parts of the country to provide Computer education to members and students, the details of which are given In para 8 of APPENDIX V. The background materials published in the year are also given at para 8 of APPENDIX V.

This Committee continued its efforts towards increasing the professional opportunities available to the members by Identifying new areas where the expertise of the members could be utilised in a productive and fruitful manner. As a part of this process., It continued to Interact with regulatory authorities, users of services of the profession, etc.

The initiatives taken by it had resulted in the Introduction of compulsory audit for the purpose of sales tax in Tamilnadu. The Assam Government has also proposed introduction of sales-tax audit. A recent amendment of the Karnataka Co-operative Societies Act has enabled chartered accountants to carry out audit of co-operative societies in the state.

It has identified a large number of areas in the sphere of functioning of various ministries and departments both at centre and state levels where our expertise could be gainfully harnessed. These areas have been outlined in a communique addressed to the State Governments and to certain specific Ministries at the Centre. The response is positive and quite encouraging.

PART III—SEC, 4] THE GAZETTE OF INDIA, SEPTEMBER 25, 1999 (ASVINA 3, 1921) 3305

State-wise task forces were constituted for taking up matters of professional development with the respective State Governments besides exploring new avenues of professional development.

A study group was constituted jointly with the Financial Institutions Reform and Expansion Project (a Joint Indo-US Programme funded by the US Agency for International Development), to consider ways and means of improving the accounting systems of local bodies, The study group has prepared a draft of financial statements of local bodies, which would provide meaningful information to the readers of these financial statements. The draft is under discussion with various Interest groups and would be finalised on the basis of feedback received from them.

A group comprising the representatives of the Institute and those of the office of the Comptroller and Auditor General of India and the Department of Company Affairs has been constituted to carry out an In-depth examination of the matter relating to adequacy of remuneration to auditors.

It has undertaken the task of preparing a panel of chartered accountants for Y2K Compliance Certification. The panel would be provided to various authorities/organisations, which have shown interest in utilising the services of our members for such certification.

It has also prepared a panel for appointment of statutory branch auditors of public sector banks and statutory central and branch auditors of regional rural banks, It continued Its efforts for a more widespread and equitable distribution of branch audit work and for greater transparency in empanelment and allotment of such work, The Committee has decided to prepare a comprehensive panel which will be used for empanelment of chartered accountants not only for the aforesaid purpose but also for other professional assignments,

Campus Interviews Introduced in September, 1995 continued to receive an overwhelming response from both the employing organisations (public and private sector Including multinationals) and the young members, During the year under Report, 84 teams of employers had looked into the bio-data of about 4700 young Chartered Accountants. Encouraged by the response to the scheme, the Institute, through its Committee for Members In Industry, organised Workshops and Orientation Programmes at various interview centres to train young members to attend the Interview Boards with greater confidence, The statistical Information regarding Campus interviews is given in para 9 of APPENDIX V,

5.11 Tele Conferencing

The Continuing Professional Education Committee has also organised two programmes by way of Tele Conferencing on the subjects of ' Y2K and Bank Audit, 'Y2K Compliance'. The Regional Councils and their branches are being provided with requisite infrastructure facilitating Tele Conferencing on a regular basis.

5.12 The details of important activities undertaken by various Non-standing Committees, are given in APPENDIX V.

3306 THE GAZETTE OF INDIA, SEPTEMBER 25, 1999 (ASVINA 3, 1921) [PART III—SEC. 4

Accounting Research Foundation promoted by the Institute has come Into existence on 14* January 1999 with the following objectives:

(0 To Create and maintain a Data base, In respect of areas of professional interests, not only pertaining to our country but also in other countries.

(II) To carry on research in the core areas of accounting, auditing, finance, fiscal and corporate laws, capital markets and allied areas.

(III) To support technical activities by carrying field studies and research similar to those being carried out by Financial Accounting Standards Board (FASB) in the United States of America and the Accounting Standards Board (ASB) in UK.

ICAI ARF will function as an Independent body. It shall have budgetary support from the Institute. Land measuring 8,000 Sq. Mts. was acquired in Sector 62 Noida for constructing a building. It is In the process of setting up Its organisation structure.

ICAI ARF has instituted the following awards to encourage researches in the field of Accounting, Auditing, Finance, Economics and allied areas:

Gold Medal for the the best reserch papar	A cash award of Rs. 25,000 with a gold medal and a certificate from ICAI ARF.
Silver Medal for the second best research paper	A cash award of Rs. 20,000 with a silver medal and a certificate from ICAI ARF.
Bronze Medals for commendable efforts (3 prizes)	A cash award of Rs. 5,000 with a bronze medal and a certificate from ICAI ARF.

The Institute has continued to play a proactive role in its association with various International Bodies of Professional Accountants. It has entered into Memoranda of Understanding with Accounting/Auditing bodies in Ukraine, Russia, and Kyrgyzstan for developing the profession in these countries and with Consigllo Nazlonale Del Dottori Commercialisti and Consigllo Nazionale Del Ragionnerice Periti Commercial, Italy for technical collaboration and Mutual Reciprocity Agreement with special emphasis to our entry of ICAI Into the European Union through recognition of ICAI'S qualification. The Italian Institute has promised to support this effort. Initiatives were also taken for exploring the possibilities of collaboration with the Chinese Institute of Certified Public Accountants (CICPA), China and the Malaysian Institute of Accountants (MIA) Malaysia. A brief report on the role of the Institute and its relations with such bodies is given in para 10 of APPENDIX V.

This Committee constituted by the Council in the year 1998-99 continued with Its tasks of carrying out a review of the entire gamut of the profession and its positioning in the next millenium. During the year, the Committee had five meetings and formulated three structured questionnaires for (i) Members in service, (ii) Members In Practice and (Hi)

PART III—SEC 4] THE GAZETTE OF INDIA, SEPTEMBER 25, 1999 (ASVINA 3, 1921) 3307

Students to elicit their views. They were published In September, 1998 Issue of the Institute's Journal and Students Newsletter as also in March 1999 Issue. Analysis of feed back received is underway. The Committee has also prepared a draft Mission Statement and vision Statement. The brief report of the Committee is appearing In para 14 of APPENDIX V.

This Committee decided to celebrate the historic occasion of the Institute entering its 50th year of existence on 1rt July, 1998 and completing it on 30th June, 1999 in a befitting manner for a period of two years commencing from 1st July, 1998 and ending on 30th June, 2000.

The Golden Jubilee celebrations were inaugurated at Slri Fort Auditorium in New Delhi on 1* July, 1998 by the Hon'ble Shri Atal Behari Vajpayee, Prime Minister of India. The Finance Minister of India gave the keynote address on 'Positioning India as a Global Economic Power' which followed the inaugural function. The Minister for Environment and Forests and a large number of distinguished guests were also present.

As a part thereof, a Golden Jubilee Conference was also held from 4th to 6th December, 1998 in Science City, Calcutta. It was inaugurated by Hon'ble Dr. A.R. Kidwal, Governor of West Bengal. It was attended by about 1300 delegates from India and abroad.

The historic event of completion of 50th year of the Institute was inaugurated by the Hon'ble Shri Atal Behari Vajpayee, Prime Minister of India on 1st July, 1999. Hon'ble Shri Ram Jethmalanl, Minister of Law, Justice and Company Affairs, and Hon'ble Shri Suresh P. Prabhu, Minister of Environment & Forests also participated In the Function. It was followed by Golden Jubilee Lectures on "Role of Accounting Profession in Economic Development" delivered by Shri N.K.P. Salve, Member, Rajya Sabha and Dr. A, Bagchi, Member, Finance Commission and by panel discussion by eminent panelists Shri P.P. Prabhu, Commerce Secretary; Shri T.S. Krishnamurthy, Secretary, Department of Company Affairs; Shri D.R. Mehta, Chairman, SEBI; Shri R. Srinivasan, Economic Advisor, Planning Commission; Dr. Bhaskar Banerjee, Sr. MD, Duncans Industries Ltd. and Shri Y.H. Malegam, Past President, ICAI on "Contributions of the Accountancy Profession : Expectations of the 21st Century".

The Institute is seized of the need to re-orient administrative set up to cope up with increasing number of the members and students to provide them requisite quality of service. Number of Initiatives for streamlining the. systems and procedures, toning up the administrative machinery, use of the Information technology, and also making available infrastructure conducive to the efficiency Improvement, have been taken. Apart from the orientation programmes for the newly recruited officers, series of programmes aiming at executive development, attitudinal changes and helping them in improving their performance including on information technology were organised in the Headquarters as well as its decentralised offices.

3308 THE GAZETTE OF INDIA, SEPTEMBER 25, 1999 (4SVTNA 3, 1921) [PART III—SEC.

As part of its commitment to use hi-tech information technology, the Institute has inducted fourth generation client server computers numbering about 100, to cater to the ever-growing demands of Member's and Student's services.

A custom built software was developed with the assistance of Tata Consultancy Services (TCS). Separate modules for Members, Firms, BOS, Students, Accounts and H.O. Consolidation have been developed. These systems also have integrated office automation systems for generation of various communications to members and students, and reports for analysis. Initial software bugs are continuously being rectified/updated and systems performance Is continuously monitored.

As reported earlier, the new system has already been made functional at all the locations of the Institute Offices. The regional databases have also been consolidated at the Head Office and system has been on-line since September 1998. Considering the effect of millennium change on Computer Systems, hardware, software and Data Files effective steps have been taken for Y2K compliance.

In line with increased Internet usage, all our decentralised offices were provided with Internet connections. Selected officials at Head Office were provided e-mail and internet training and this has helped members and students to communicate with the Institute over e-mail in addition, to inter-office communications for resolving member, student related matters. One of the most noticeable achievement in this regard is the extensive clearance of pendency and expeditious disposal of matters. Additionally, Internet has also been put to use for declaration of results of the Foundation, Inter and Final Examinations on our official web site, The Institute is also using 64 KBPS ISDN telephone facility. Work is in progress for making available Sunday Test and Postal Test results over the Internet and also on IVR (Interactive Voice Response) Telephone systems. Use of Information technology in different parts of the Institute's functioning is being explored further for Improvement in quality of services to members and students.

The Institute's web site ww.icai.org was developed initially for publication of the Results of the Institute. However over a period of time the web site has grown with a large amount of information for Members and Students Services. This site provides a comprehensive collection of Information from Act, Regulation and procedures connected with Firms, Members and Students. The site is currently being improved and restructured for easy access to members and students using dynamic web pages.

9.3 Unjustified Removal of Auditors

As in the past, the Committee has examined and disposed of various important ethical issues, queries relating to ethical standards and professional conduct of the members and the allegations of unjustified removal of auditors. The decisions taken by the Council on the recommendations of the Committee on (1) Issuance of notification for Y2K compliance certification, (2) notification to be issued for not accepting the audit where the undisputed audit fee of the pervious auditors has not been paid, (3) not considering the practice of Members in practice who arc in full-time employment, as their main occupation and (4) notification to be issued for not accepting the audit by the incoming auditor in case of unjustified removal of the earner audits are contained in para 10 of APPENDIX V.

PART III—SEC, 4] THE GAZETTE OF INDIA, SEPTEMBER 25, 1999 (ASVINA 3, 1921) 3309

Whenever there are allegations of unjustified removal of auditors on account of submission of qualified audit report and, consequently, the auditors' independence has been Jeopardised, the matters have been taken up with the concerned appointing authorities and the entities. The Institute's viewpoints have been favourably accepted by the said authorities. To supplement this concern, the President has advised the Members in his page of March 1999 issue of the Journal, not to accept the audit when their predecessor has been removed for qualifying the Audit Report.

The Committee for Review of Education and Training (CRET) submitted its final Report to the Council at its meeting held In January, 1998. Subsequently, the Council considered the Report at its 193rd, 194th & 195th meetings held in July, August & October, 1998 respectively. Some of the major recommendations of the Committee accepted by the Council Includes - (I) Minimum qualification for entry requirements should continue to be a pass in 10+2 examinations or its equivalent; (ii) Professional Education (PE) Course of about two years' duration should be introduced, prior to commencement of Practical Training In two parts- Professional Education I (PE-I) and Professional Education II (PE-II); (iii) Compulsory practical training in computers for a period equivalent to three months of about 200-300 hours prior to commencement of articles; and (iv)Period of practical training should continue to be of three years. For further details kindly see para 17 of APPENDIX V.

To provide the platform for intellectual sharing of professional excellence, achievements in all endeavours from across the diversified membership of the profession among all the segments, the All India Conference of Chartered Accountants is held every 3 years.

The theme of the Conference is "ECONOMIC GLOBALISATION - IMPERATIVES & EXPECTATIONS".

The Conference will be held in New Delhi in the month of December, 1999 and is expected to be attended by a large number of members of the profession besides delegates from professional bodies in India and abroad. The composition of the All India Committee constituted for organising the Conference is given in APPENDIX I.

The 49th Annual Function of the Institute was held on 16th January, 1999 at New Delhi. Hon'ble Shri V.K, Shunglu, Comptroller & Auditor General of India was the Chief Guest. Shields and plaques to the winners of the Institute's prestigious awards for the best presented accounts and prizes and medals to the meritorious students in the examinations conducted by the Institute, shields and certificates of appreciation to the outstanding Regional Council and Branch of the Institute, were awarded. The function was attended by a large number of invitees including members, students, officers and staff of the Institute.

3310 THE GAZETTE OF INDIA, SEPTEMBER 25, 1999 (ASVINA 3, 1921) [PART III—SEC. 4

As mentioned In the last Report, the Council of the Institute has submitted comprehensive proposals for amendments to the Chartered Accountants Act, 1949, taking Into account the changing needs and present policy of liberalisation of the Central Government. Recently a proposal for amendments to the Act and Regulations has also been submitted to the Govt. for granting immunity to the Members of the Council and Officers of the Institute for any act done In good faith or intended to be done in pursuance of the Act or Regulations or Orders made thereunder. The amendments are under consideration of the Central Government.

The Institute had also proposed several amendments to the Regulations, concerning members, articled/audit clerks etc. They are also under the consideration of the. Central Government.

An Inter-Institute Task Force was formed to recommend 'similar/common provisions', to the extent feasible, in the Acts and Regulations of the three Institutes, namely ICAI, ICWAI and ICSI on provisions of the Regulations concerning disciplinary proceedings, for ensuring expeditious disposal of the cases, The Institute has submitted Its proposals to the Central Government for amendment of certain provisions (related to disciplinary matters of the Chartered Accountants Regulations, 1988) based on the proposals earlier submitted for amending the disciplinary related provisions in the Chartered Accountants Act, 1949.

The central council library provides books, journals, newspapers and reference facilities and articles compiled from various professional journals and newspapers, a list of which is published every month in the Institute's journal and also on the Web Site of the Institute. Reference service Is also provided to the researchers and foundation course students. Noida office of the Institute has also been provided with library facilities. Steps towards Computerisation are under way.

The library facilities are also provided at the regional centres and branches throughout the country. Grants are given to associations and study circles recognised by the Institute for development of the libraries. The Council has taken a decision to provide special grants for strengthening library facilities available at all Regional Councils and Branches.

The Institute's monthly Journal 'The Chartered Accountant',, is the most visible and recurrent indicator of the Institute's profile for the members, students, as well as external readers. The Journal continued to maintain high professional standards and was well received throughout the period under Report, with its monthly circulation figure crossing 1,32,000. A number of steps such as layout and design, introduction of main features, etc. initiated during the last few years, brought about remarkable improvements on all fronts.

During the year, the Golden Jubilee commemorative special issue was also published In July, 1998, which carried messages of the Past Presidents and the details of the Golden Jubilee celebrations and the Golden Jubilee function. The journal has also served the purpose of providing Continuing Professional Education to members. In this context, articles from all SAFA bodies, IFAC, Italy, Russia, Ukraine, UNCTAD etc. have been received and published. Further efforts are being made to make it more member-friendly.

The Editorial Board continues to strive to improve the overall quality of the Journal to make it more relevant and useful keeping in view the wide spectrum of members across the entire length and breadth of the country.

During the year ended 31st March, 1999, 7154 new members were enrolled by the Institute.

During the year ended 3 lrt March, 1999, 2358 Associates were admitted as Fellows, compared to the figure of 2375 In the previous year.

18813             34528              53341
7344               2894              10238
22123              3889              26012

The Council records with deep regret the sad demise of Shri M.C. Bhandari, Past President of the Institute and other deceased members. The names of the members whose names stand deleted from the Register of Members on account of death during the year ended 31st March, 1999 are given in APPENDIX V I.

Established in December, 1962, the Chartered Accountants Benevolent Fund continues to provide financial assistance to needy persons who are or have been members of the Institute and their dependents, for maintenance of the dependents, their educational and medical needs etc. The number of life members of the Fund Increased from 16,145 as on 31st July, 1998 to 23,145 as on 31st May, 1999. The financial particulars of the Fund are as follows:

3312 THE GAZETTE OF INDIA, SEPTEMBER 25, 1999 (ASVINA 3. 1921) [PART III—SEC. 4

During the year ended 3 1* March, 1999

During the year ended 31st March, 1998

15,90,349/- 1,50,23,483/- Sum disbursed Balance In the Fund

7,84,233/- 1,27,72,305/-

12.1 Students' Statistics

12.1.1 The Board of Studies has continued the process of supplying comprehensive study materials to the students of Foundation and the Chartered Accountancy (Intermediate and final) course. The process of reviewing and Improving them by regular updating and the system of the review by outside experts have been further strengthened. As usual, volumes of Suggested Answers for the questions set In the May/November Examinations were also published by the Board,

12.1.2 The Foundation Course study materiel has been brought out in a book form. Similar steps have been taken in respect of the study material of the Intermediate and Final courses,

12.1.3 The Hindi Study Material for Intermediate Course was released by the Prime Minister of India on the occasion of the inauguration of Golden Jubilee Celebrations on 1st July, 1996,

12.1.4 The total number of students registered for Foundation Course during the year ended 31rt March, 1999 was 43,809, The region-wise break up Is given In APPENDIX V II

12.1.5 The total number of students enrolled for the Intermediate Course and Final Course during the years ended 31st March, 1999 and 31st March 1998 ere as under:

1997-98 COURSE

24,652 9,394

28,253 12,227

Intermediate Final

12.1.6 The total number of students on the rolls of the Board of Studies as on 3lst March, 1999 (excluding those students who are registered for the Foundation Course) was 1,92,147 as against 1,70,596 as on 31st March, 1998. The details are given in APPENDIX V I I I,

12.1.7 During the year ended 31st March, 1999, accreditation was granted to 28 institutions (Including 2 Branches) for organising classes for Foundation Count students and 7 institutions (Including 1 Branch) for Intermediate Course. Subsequently, based on the recommendations of the Regional Monitoring Committees, accreditation has been granted to 6 more Institutes for Foundation Course and 3 more institutions for Intermediate Course,

PART III—SEC. 4] THE GAZETTE OF INDIA, SEPTEMBER 25, 1999 (ASVINA 3, 1921) 3313

12.1.9 135 accredited institutions organised classes fur students for May, 1998 Foundation Examination while 49 Institutions for November, 1998. 17 Accredited institutions organised classes for the Intermediate students both for May and November, 1998 Examinations. 94 Institutions organised classes for May, 1999 Foundation Examinations, while 15 Institutions organised for May, 1999 Intermediate Examinations. The performance of the accredited Institutions Is monitored through the Regional Monitoring Committees on a continuous basis and accreditation was withdrawn In 9 cases.

12.1.10 Meetings of the Part-time Examiners of the Board and Faculty members of Accredited Institutions were organised at different regions in order to facilitate increased interaction and feed back.

12.1.11 The schemes of one day seminars for students, Elocution Contests and special classes in Indirect taxes for final Students were continued. Seven Branches organised one-day seminars. The Fourth All India Elocution Contest for CA students took place at Bhubaneswar on 9th January '99. 20 winners from Regional level contests participated and prizes were awarded to best 5 speakers. Earlier 13 Branches organised the contest at Branch level and 5 Regional Councils organised at the Regional level. The Board has decided to continue the operation of the One Day Seminar and Elocution contest schemes during 1999-2000 also. in addition, the Board has also decided to encourage Regions and Branches to organise short term Modular Training Programmes in subjects like Drafting of Deeds and Documents, Direct and Indirect Taxes, Information Technology, General Knowledge and Economics, Corporate Laws and Capital Market. The Programmes are aimed at Increasing the students' exposure to and awareness of the chosen subjects with special emphasis on practical aspects. It is proposed to bring out uniform background material for this purpose for distribution to participants.

12.1.12 The following Regional Conferences of CA Students took place during the year.

(i) Karnataka State Chartered Accountants Students Conference, Bangalore 29.8.98 & 30.8.98.

(II) 16th SICASA Regional Conference, Cochin - 4.12.98 & 5.12.98.

(iii) WICASA Regional Conference, Nagpur -12.12.98 & 13.12.98.

(iv) CICASA Regional Conference, Raipur - 8.1.99 & 9.1.99.

(v) SICASA Annual Conference Chennai on 13.2.99 & 14.2.99.

12.1.13 The 11th All India (A students Conference with the theme "Professional Accountant - The New Challenges" was organised on 1st and 2nd August, 1998 at Indore In which a record number of nearly 850 students from different parts of the country participated. The conference was inaugurated by Dr Bharat Chapparwai. Vice Chanceller of Devi Ahliya Vishwa Vidyalaya, indore and was addressed by the President as well as the Vice-President. 15 Paper on 12 technical topics contributed by students were discussed in the four technical sessions The students participated in the discussions exhibiting their high level of knowledge and

22-259 GI/99

3314THEGAZETTE OF INDIA, SEPTEMBER 25, 1999 (ASVINA 3, 1921) [PART III—SEC. 4

skills. The Ail India Golden Jubilee C.A. Students' Conference with the theme 'Accountants in Globalisation Era" took place at Vadodara on 7th and 8* August, 1999,

12.1.14 During the year three Teleconferencing Programmes for the students were organised in collaboration with the Indira Gandhi National Open University (IGNOU) and the Indian Space Research Organisation, at the Electronic Media Production Centre, IGNOU. The programmes covered the subjects of Accounting standards, Taxation of Capital Gains and Statements on Auditing Practices. Hundreds or students watched the programme from different Regional Centres/Study Centres of IGNDU and interacted with the Resource Persons through STD calls and fax. The fourth teleconferencing programme on Company Law was organised in May, 1999.

12.1.15 During the year ended 31st March, 1999 scholarships were granted to 330 students from out of the funds of the Institute- Merit-cum- Need based scholarships 20, Merit Scholarships 24, Need-based scholarships 229, Partial Freeships 57. Similarly scholarships were awarded to 33 students, out of the Income from various endowments created for the purpose.

12.1.16 The Board decided to increase the corpus of existing endowment funds to atleast Rs. 25000 so as to facilitate award of a minimum scholarship of Rs. 250 p.m. Additional contributions were received from donors of certain existing funds so as to raise the corpus amount in appropriate cases.

12.1.17 Two new endowments were created for the award of scholarships to needy and meritorious students pursuing CA Course: -

• Ram Kumar Endowment Fund -(Rs. 30,000) • Gurbak Singh Jasminder Singh Bagga Memorial scholarship Fund (Rs. 25,000).

12.1.18 During the year five new audio cassettes were released. These include 3 cassettes containing talks delivered by past Presidents, In commemoration of Golden Jubilee. One more cassette containing a talk delivered by a Past President was released In July, 1999.

12.1.19 A new scheme for old students was introduced to enable those who have completed their articles but not passed Intermediate / Final exam, to continue to be on the rolls of the Board by paying a nominal annual fee of Rs.200 and receive useful publications of the Board from time to time.

The Monthly Newsletter - The Chartered Accountant Student - has continued to be popular and helpful to the students. The number of pages of the Newsletter has been increased to 20. It continued to carry several useful articles on professional topics, academic guidance, supplementing study materials and tips for preparing effectively for examinations and for developing communication and other personal skills. It has been decided to give two Cash Prizes to the two best articles published in each volume of the Newsletter. The following two best articles published In the first volume were awarded the prizes:

1. True Professional-ShrI P.N. Shah, June, 1997 (First Prize) 2. An Introduction to Derivatives-Ms Ivy Priya Ghose - Jan. 1998. (Second Prize).

With a view to actively Involving students of the Chartered Accountancy Course in the development of a spirit of fellow-feeling and promotion of social, cultural, academic and intellectual development etc., the Council of the Institute has always been encouraging students to set up Branches of Chartered Accountants Students' Association. In this process, 38 Branches of Students' Associations have already been set up. During the period under Report, the Council has set up one more branch at Alleppey in Southern Region.

During the year ended 31st March, 1998,50*scholarships of the value of Rs. 150 each per month were given to the students undergoing the Chartered Accountancy course. The membership of the Fund was 278 as on 31st May, 1999. The balance in the credit of the Fund was Rs. 3,27,010.05 as on 31st March, 1999 as against Rs. 2,72,695/- as on 31st March, 1998.

With constant follow-up with various Universities, the University and Higher Secondary Boards Uaison Committee has been successful in obtaining recognition for C.A. Course from 59 Universities In all, besides the three Indian Institutes of Management and the Association of Indian Universities for the purpose of Ph.D./Fellow Programme. A list of Association/Institutes/Universities, which have so far recognised the C.A. Course, is given in Para 11.5 of APPENDIX V.

13.1 The Institute has five Regional Councils, namely Western India Regional Council, Southern India Regional Council, Eastern India Regional Council, Central India Regional- Council and Northern India Regional Council with their Headquarters at Mumbai, Chennai, Calcutta, Kanpur and New Delhi respectively.

13.1.1 During the period under Report, the Council decided to set up 5 new branches at (i) Rourkela falling under the jurisdiction of Eastern India Regional Council, (II) Moradabad under Central India Regional Council, (Hi) Panipat, (iv) Gurgaon and (v) Patiala under Northern India Regional Council. Thus, the total number of branches of Regional Councils as on 31.7.99 is 88 as given in APPENDIX IX.

13.1.2 During the year, one Chapter of the Institute has been established outside the country In Nairobi (Kenya). With this, the number of Chapters of the Institute Is 10. The list of Chapters of the Institute outside India is given in APPENDIX IX.

13.1.3 During the period, the Council also decided to set up 7 new reference libraries at Ichalkaranji, Bhavnagar and Akola in Western Region, Anantpur in Southern Region and Bikaner, Satna and Ratlam in Central Region.

3316 THE GAZETTE OF INDIA SEPTEMBER 25, 1999 (ASVINA 3, 1921) PART III—SEC. 4]

During the period under Report, certain branches of Regional Councils continued evincing interest in having their own buildings, while VIsakhapatnam, Salem, Jodhpur and Hisar have completed their building projects. In addition construction/additional construction of branch premises is in progress in few branches.

Since 1986-87, the Institute awards each year Revolving Shield to the Best Regional Council. The award is given on the basis of overall performance. Similarly, a separate Rotating Shield is awarded to the Best Branch each year. This award is given on the basis of established norms. For the year 1999, these shields will be awarded at the Annual Function.

Considering the increasing volume of work/activities at the regional level and recognising the values of expeditious and personalised service which are achievable through the process of decentralisation, the Council of the Institute, has already set up five more decentralised Offices at Bangalore, Hyderabad in Southern Region; Ahmedabad, Pune in Western Region and Jaipur In Central Region (besides the decentralised offices already functioning from Mumbai, Chennai, Calcutta, Kanpur and New Delhi).

The Balance Sheet as at 31st March, 1999 and the Income and Expenditure Account for the year ended on that date as approved by the Council are enclosed.

15.1 The Council is grateful to all members of the Institute who functioned as co-opted members on the Institute's Committees and to the non-members who assisted the Council during the year 1998-99 in the conduct of its educational, technical and other developmental activities and in its examinations.

15.2 The Council wishes to place on record its appreciation of the continued assistance and support given by the Central Government and its nominees on the Council during the year 1998-99. The Council also expressed its gratitude to the Hon'ble Shri Atal Behari Vajpayee, Prime Minister of India, Union Ministers, Senior Government Officers and other dignitaries for their whole hearted participation in the Golden Jubilee Celebrations.

15.3 The Council also acknowledges its appreciation of the sincere and devoted efforts put in during the year 1998-99 by all officers and staff of the Institute.

PART III—SEC. 41 THE GAZETTE OF INDIA. SEPTEMBER 25, 1999 (ASVINA 3, 1921) 3317

TABLE I

As on 1.4.1996

	As on 1.4.1994	As on 1.4.1995
Fellows	29,866	32,585
Associates Total	38,522 68,388	38,378 70,963

36.995

34,971

39,204 41,311 44,976 39,381

41,511

48,280

74,352

84,180 89,591

78,506

	1.4.1951
Fellows	672
Associates	1,285
Total	1,957

1,590

8,642

3,326

7,901

4,059

16,796

36,362 11,227

5,649

25,438

58 998

29,717

29,0] 5

37,052

43,809 Foundation 30,250

28,209

21,3.54

18,531

19.288

24,652 Intermediate 19,335

28,253

9,275

12,227

5,770

8,675

9,394 Final

5,865

3318 THE GAZETTE OF INDIA, SEPTEMBER 25, 1999 (ASVINA 3, 1921) PART III—SEC. 4]

Shri S.P. Chhajed, President Shri G. Sitharaman, Vice President Shri K.S. Vikamsey Shri R. Bupathy Shri S.C. Gupta

Mumbai Chennai Mumbai Chennai New Delhi

Shri S.P. Chhajed, President Shri G. Sitharaman, Vice President Smt. Bhavna G. Doshi Shri Rahul Roy Shri Sunil Goyal

Mumbai Chennai Mumbai Calcutta Jaipur

Shri S.P. Chhajed, President Shri G. Sitharaman, Vice President Shri Amarjlt Chopra Shri Ashok K. Chandak Shri S. Balasubramanlan

Mumbai Chennai New Delhi Nagpur New Delhi

Shri S. Gopalakrishnan, Chairman Shri Ashok K. Chandak, Vice Chairman Shri G. Sitharaman, Vice President (Ex-officio) Shri D.K. Gupta Shri M.M. Khanna Shri N. Nltyanarida Shri Rahul Roy Shri S.V. Barve Shri C. Srivatsan Shri Kamal Faruqui Shri Nllesh S. Vikamsey Co-opted Shri P.R. Ramesh Shri S. Ramesh

Hyderabad Nagpur Chennai Ludhiana New Delhi Bangalore Calcutta Pune Bangalore New Delhi Mumbai Calcutta Hyderabad

PART III—SEC. 4] THE GAZETTE OF INDIA, SEPTEMBER 25, 1999 (ASVINA 3, 1921) 3319

New Delhi Mumbai Chennai Calcutta New Delhi Jaipur Ahmedabad Shri K.P. Khandelwal, Chairman Calcutta Shri R.S. Adukla, Vice Chairman Mumbai Shri S.P. Chhajed, President (Ex-officio) Mumbai Shri G. Sitharaman, Vice President (Ex-officio) Chennai Shri Amarjlt Chopra Shrl H.N. Motiwalla Shri R. Bupathy Shri Rahul Roy Shri S.C. Gupta Shri Sunil Goyal Shri B.T. Thakkar Shri Pinakin D. Desal Mumbai Shri P.N. Shah Co-opted Mumbai Shri Ravindra Raniwala Shri Vlnod Bansal

Jaipur New Delhi

Ahmedabad New Delhi Kanpur Calcutta Bhubaneswar Hyderabad Pune New Delhi Bhubaneswar Shri S.P. Chhajed, President (Chairman) Mumbai Shri G. Sitharaman, Vice President (Vice Chairman) Chennai Shri A.C. Shah Shri N.D. Gupta Shri N.K. Gupta Shrl Rahul Roy Shri S.C. Bhadra Shri S.L Daga Shri S.V. Barve Shri Vinod Jain Shri Arun Kumar Sabat Shri Pravln N. Vepari Mumbai Shri R.C. Agarwal Co-opted Allahabad Shri Satyanarayan Goyal Shri Sunll Gupta

Indore Chandigarh

New Delhi New Delhi

New Delhi Mumbai Bangalore New Delhi New Delhi Accounting Standards Board Shri M.M. Khanna, Chairman New Delhi Shri Rahul Roy, Vice Chairman Calcutta Shri S.P. Chhajed, President (Ex-officio) Mumbai Shri G. Sitharaman, Vice President (Ex-officio) Chennai Shri A.K. Chakrabarti Shri Amarjlt Chopra Smt. Bhavna G. Doshi Mumbai Shri G.C. Srivastava Shri K.S. Vikamsey Shri N. Nltyananda Shri S. Balasubramanlan Shri S.C. Vasudeva Shri V. Ramakrlshnan Co-opted Mumbai

3320 THE GAZETTE. OF INDIA, SEPTEMBER 25, 1999 (ASVINA 3, 1921) PART III—SEC. 4

Nominees of outside bodies

Shri A. Ghosh (Representing RBI) Shri H.V. Lodha (Representing FICC I) Shri Mahesh Shah (Representing ICWAI) Shri N.J.N. Vazlfdar (Representing ASSOCHAM)

Smt Archanaa Nigam

Mumbai

Calcutta

Mumbai

New Delhi

Mumbai

Lucknow

Mumbai

(Representing CGA) Shri.J. Sridhar Pune (Representing ICSI) Shri K.L Verma New Delhi (Representing CBEC) Shri M.D. Patel Mumbai (Representing SEBI) Shri R.M. Malla (Representing IDBI) Shri s. Ravindran (Representing SEBI) Prof. Vipul (Representing IIM) Shri V.L Gupta (Representing UGC;

Ahmedebad New Delhi Calcutta Hyderabad Chennai New Delhi Shri H.N. Motiwalla, Chairman Mumbai Shri M.M. Khanna, Vice Chairman New Delhi Shri S.P. Chhajed, President (Ex-officio) Mumbai Shri A.C. Shah Shri A.K. Chakrabarti Shri K.P. Khandelwal Shri S. Gopalakrishnan Shri G. Narayanaswamy Shri K.G. Somani Shri M.M. Chltale Co-opted Mumbai Shri Sanjeev Choudhry New Delhi

Hyderabad Jaipur

Continuing Professional Education Committee Shri S.L. Daga, Chairman Shri Sunill Goyal, Vice Chairman Shri G. Sitharaman, Vice President (Ex-offlcio) Chennai Smt. Bhavna G. Doshi Mumbai Shri M.C. Joseph Shri R.S. Adukia

Kochi Mumbai

PART III-SEC. 4] THE GAZETTE OF INDIA, SEPTEMBER 25, 1999 (ASVINA 3, 1921) 3321

New Delhi Hyderabad Shri S.C. Gupta Shri C. Parthasarathl Dr. Dharmendra Bhandari Co-opted Jaipur Shri Francis Amal George B. Shri T.R. Jalnawala

Tuticorin Aurangabad

Committee f or Members In Industry

Shri S.V. Berve, Chairman Pune Shri M.C. Joseph, Vice Chairman Kochi Shri G. Sitharaman, Vice President (Ex-officio) Chennai Nagpur Shri Ashok K. Chandak Ludhiana Shri D.K. Gupta Allahabad Shri H.G. Agrawal Calcutta Shri K.P. Khandelwal Ms. H.A. Daruwala Mumbal Shri Jayant Ranade Co-opted Nagpur Shri S. Ravi New Delhi Shrl S.K, Joshi New Delhi

Fiscal Laws Committee

New Delhi Shri N.D. Gupta, Chairman Shri H.N. Motiwalla, Vice Chairman Mumbai Shri S.P. Chhajed, President (Ex-officio) Mumbai Calcutta Shri Amltav Kothari New Delhi Shri G.C. Srivastava Mumbai Shri K.S. Vikamsey Shri R. Bupathy Chennai Shri Naginchand Khincha H Co-opted Bangalore Shri N.K. Poddar Shri S.K, Khurana Shri Ved Kumar Jain

Calcutta Delhi New Delhi

Kanpur Shri Amitav Kothari, Chairman Calcutta Shri N. Nityananda, Vice Chairman Bangalore Shri G. Sitharaman, Vice President (Ex-officio) Chennai Mumbai Shri H.N. Motiwalla Mumbai Shri K.S. Vikamsey New Delhi Shri S. Balasubramanian Shri Vinod Jain New Delhi Shri Arplt K, Patal Ahmedabad Shri Homi M, Damanla Co-opted Mumbai Shri Narendra Kapoor Shri T.G. Keswani New Delhi

Committee on Ethical standards & Unjustified Removal of Auditors

Bhubanaswar Shri S.C. Bhadra, Chairman Smt. Bhavna G. Doshl, Vice Chairman Mumbai

3322 THE GAZETTE OF INDIA, SEPTEMBER 25, 1999 (ASVINA 3, 1921) [PART III - SEC. 4

Ahmedabad New Delhi Kanpur Hyderabad Calcutta Mumbai

Shri G. Sitharaman, Vice President (Ex-officio) Chennai Shri A.C. Shah Shri A.K. Chakrabarti Shri N.K. Gupta Shri S. Gopalakrishnan Shri A.K. Chakraborty Shri Jal E. Dastur Shri Rajendra Patro Co-opted Bhubaneswar Shri v.C. Darak

Mumbai

Expert Advisory Committee

Nagpur New Delhi Kanpur Pune Mumbai

Shri H,G. Agrawal, Chairman Allahabad Shri S. Gopalakrishnan, Vice Chairman Hyderabad Shri G. Sitharaman, Vice President (Ex-officio) Chennai Shri Ashok K. Chandak Shri M.M. Khanna Shri N.K. Gupta Shri S.V. Barve Shri A.H, Dalai Shri G. Karthlkeyan Co-opted Coimbatore Shri H.C. Dhagat Navi Mumbai Shri Satish Seth

Mumbai

Allahabad Bhubaneswar Hyderabad New Delhi

Coimbatore Shri R.S. Adukia, Chairman Mumbai Shri N.K. Gupta, Vice Chairman Kanpur Shri G. Sitharaman, vice President (Ex-officio) Chennai Shri H.G. Agrawal Shri S.C. Bhadra Shri S.L Daga Shri Vinod Jain Shri Abhay V. Arolkar Mumbai Shri Ashwini Kumar Co-opted Ludhiana Smt. Priya Bhansali Shri Uday V. Sathaye Mumbai

Shri M.C. Joseph, Chairman

Kochi

Ludhiana Mumbai Jaipur Pune Pune

Shri H.G. Agrawal, Vice Chairman Allahabad Shri G. Sitharaman, Vice President (Ex-officio) Chennai Shri O.K. Gupta Shri R.S. Adukia Shri Sunil Goyal Shri S.V. Barve Shri Dilip V. Satbhal Shri G.D. Gupta Co-opted New Delhi Shri K, Verghese Shri Sanjiv Kumar Agarwal

Kollam Bhilal

PART III - SEC. 4] THE GAZETTE OF INDIA SEPTEMBER 25,1999 (ASVINA 3, 1921) 3323

Kanpur Shri N.K. Gupta, Chairman Shri Amarjit Chopra, Vice Chairman New Delhi Shri S.P. Chhajed, President (Ex-officio) Mumbai Nagpur Shri Ashok K. Chandak Bhubaneswar Shri S.C. Bhadra New Delhi Shri S.C. Gupta Hyderabad Shri S. Gopalakrishnan New Delhi Shri Vlnod Jam Shri A. Roy Chowdury Calcutta Shri Ashwini Kumar Gupta Co-opted Lucknow Shri J. Ostawal Shri Sudhir Chandra Agrawal

Bangalore Patna

Ludhiana Kochi Mumbai Hyderabad

Calcutta Bangalore Shri N. Nityananda, Chairman Bangalore Shri N.D. Gupta, Vice Chairman New Delhi Shri S.P. Chhajed, President (Ex-officio) Mumbai Shri D.K. Gupta Shri M.C. Joseph Shri R.S. Adukia Shri S.L Daga Shri R.N. Rustagi Shri R. Venkatkrishna Shri Uttamchand B. Bafna Co-opted Mumbai Shri Vinay Kumar Jain

Delhi

Hyderabad Shri A.C. Shah, Chairman Shri R. Bupathy, Vice Chairman Chennai Shri G. Sitharaman, Vice President (Ex-officio) Chennai Smt. Bhavna G. Doshi Mumbai Allahabad Shri H.G. Agrawal Calcutta Shri K.P. Khandeiwal New Delhi Shri M.M. Khanna Jaipur Shri Anil Goyal Shri K.S. Mehta New Delhi Shri Sanjay Vasudeva Co-opted New Delhi Shri Sumermal M. Khinvesra Mumbai

Shri S.P. Chhajed, Chairman Mumbai Shri G. Sitharaman, Vice Chairman Chennai Chennai Shri R. Bupathy Calcutta Shri Amitav Kothari Calcutta Shri Rahul Roy New Delhi Shri S.C. Gupta

3324 THE GAZETTE OF INDIA, SEPTEMBER 23, 1999 (ASVINA 3, 1921) [PART III—SEC. 4

Shri Gautam B. Doshi Mumbai Shri S. Nandagopal Co-opted Chennai Shri T.S. Vishwanath

New Delhi

Shri S.P. Chhajed, Leader Mumbai Shri G. Sitharaman, Deputy Leader Chennai Shri G.C. Srivastava Shri K.P. Khandelwal Shri S. Balasubramanlan

New Delhi Calcutta New Delhi

New Delhi Mumbai Calcutta Jaipur

Hyderabad Shri S.P. Chhajed, Editor-in-Chief Mumbai Shri G. Sitharaman, Joint Editor Chennai Shri Amarjlt Chopra Shri H.N. Motiwalla Shri Rahul Roy Shri Sunil Goyal Shri Ayloor Ramakrishnan Mumbai Shri J.N. Mittal Co-opted New Delhi Shri Laxminiwas Sharma Shri Narayandas K. Varma Mumbai

Shri Vinod Jain, Chairman New Delhi Shri K.P. Khandelwal, Vice Chairman Calcutta Shri S.P. Chhajed, President (Ex-officio) Mumbai Ahmedabad Shri A.C. Shah Calcutta Shri Amitav Kothari Mumbai Shri K.S. Vikamsey New Delhi Shri N.D. Gupta Bangalore Shri N. Nityananda Shri Anand K. Rathi Mumbai Shri Arunkumar R. Gandhi Co-opted Mumbai Shri Danesh Varma Shri R.S. Jhawar

New Delhi Calcutta

Ludhiana

Shri D.K. Gupta, Chairman Shri S.C. Bhadra, Vice Chairman Bhubaneswar Shri G. Sitharaman, Vice President (Ex-officio) Chennai Shri M.C. Joseph Shri N.D. Gupta Shri S.L. Daga

Kochi New Delhi Hyderabad

* Since dissolved in May, 1999 on incorporation of ICAI -Accounting Research Foundation (ARF).

PART III—SEC, 4] THE GAZETTE OF INDIA, SEPTEMBER 25, 1999 (ASVINA 3, 1921) 3325

Shri S.P. Chhajed, Chairman Mumbai Shri G. Sitharaman, Co-Chairman Chennai Shri Amarjit Chopra New Delhi Shri A.K. Chakrabarti New Delhi Ludhlana Shri D.K. Gupta New Delhi Shri G.C Srivastava Calcutta Shri K.P. Khandelwal Mumbai Shri K.S. Vikamsey New Delhi Shri M.M. Khanna New Delhi Shri N.D. Gupta Kanpur Shri N.K. Gupta Chennai Shri R. Bupathy Calcutta Shri Rahul Roy New Delhi Shri S. Balasubramanian New Delhi Shri S.C. Gupta Shri Vinod Jain New Delhi Shri Vijay Jhalani, Chairman, NIRC New Delhi Shri Anil Kumar Agarwal, Vice Chairman, NIRC New Delhi Shri Praveen Kumar Bansal, Secretary, NIRC New Delhi Shri Charan Jot Singh Nanda, Treasurer, NIRC New Delhi

Shri D.K. Gupta, Chairman Shri S.C. Bhadra, Vice-Chairman Shri Asish K Bhattacharyya, Dean & Secretary Shri S.P. Chhajed, President, ICAI Shri G. Sitharaman, Vice-President, ICAI Shri Ashok Haldla, Secretary, ICAI Shri M.M. Chitale, Past President, ICAI Shri Rahul Roy, Past President, ICAI Shri M.C. Joseph, Council Member, ICAI Shri N.D. Gupta, Council Member, ICAI Shri S.L Daga, Council Member, ICAI

S326 THE GAZETTE OF INDIA, SEPTEMBER 25, 1999 (ASVINA 3, 1921) [PART III—SEP. 4

MAY 57

MAY 65

NOVEMBER 57

GROUP-I

33666

13806

13403

26943

No. of candidates appeared

3708

1911

5126

5431

No. of candidates declared successful

GROUP-II

14482

28264

15406

23083

No. of candidates appeared

8021

4674

4445

5377

No. of candidates declared successful

BOTH GROUPS

12041

7210

6423

16478

No. of candidates appeared

714

1590

1435

2678

No. of candidates declared successful

UNIT

1474

1154

70 No. of candidates appeared

279

240

No. of candidates declared successful

PART III- SEC. 4] THE GAZETTE OF INDIA, SEPTEMBER 25, 1999 (ASVINA 3, 1921) 3327

The following candidates were awarded Certificate of Merit:

RANK	May, 1998 Examination		November, 1998 Examination		NaN
	Roll No.	Name & marks obtained	Roll No.	Name & marks obtained	NaN
I	11048	Shri B. SARAVANA PRASATH (608 marks out of 800)	10413	Shri AASIF HUSEINI MALBARI (531 marks out of 800 )	NaN
II III	11124 21665	Ms. ROSHI JAIN (577 marks out of 800) Shri VIVEK GUPTA (571 marks out of 800)	01891 02125	Shri BASANT MAHESHWARI (530 marks out of 800) MS. NISHA BHATI (504 marks out of 800)	NaN
					NaN
Name of the Prize	Basis	May, 1998 Examination	November, 1998 Examination	NaN
(1)	(2)	(3)		NaN
The G.P. Kapadia First President Gold Medal The J.S. Lodha Gold Medal The Ramachandra Singhi Prize The Saradama Visweswaraiya Sliver Medal	Best Candidate	Shri B. SARAVANA PRASATH, Roll No. 11048.	Shri AASIF HUSSEINI MALBARI, Roll No. 10413.	NaN
TheR. Sivabhogam Prize The Jayantilal K. Thakkar Memorial Prize	Best lady candidate Second best candidate	Ms, ROSHI JAIN, Roll No. 11124 (577 marks out of 800). MS. ROSHI JAIN, Roll No. 11124.	Ms. NISHA BHATI, Roll No.02125 (504 marks out of 800), Shri BASANT MAHESHWARI, Roll No.01891,	NaN
				NaN
Dr. I.B. Sinha Memorial Prize	Third best candidate	Shri VIVEK GUPTA, Roll No.21665.	Ml. NISHA BHETI, Roll No,2125	NaN
The Kerala Verma Memorial Prize The P.N. Ghosh Memorial Prize	Best candidate in Group-I Best candidate in Group-II	Shri B. SARAVANA PRASATH, Roll No. 11048 (312 marks out of 400). Ms. ROSHI JAIN, Roll No. 11124 (320 marks out of 400),	Shri AASIF HUSEINI MALBARI, Roll No. 10413 (265 marks out of 400). Shri MANISH GUPTA, Roll No.23507 (276 marks out of 400).	NaN
				NaN

3328 THE GAZETTE OF INDIA, SEPTEMBER 25, 1999 (ASVINA 3, 1921) [PART III—SEC. 4

(1) The Sir Shapoorjl Billimoria Prize The K.C. Khanna Prize and Shri D. Rangaswamy Memorial Prize	(2) Best papers on Accounting (Paper 1&2) Best paper on Advanced Accounting (Paper I )	(3) Shri B. SARAVANA PRASATH, Roll No. 11048 (183 marks out of 200). Shri B. SARAVANA PRASATH, Roll No. 11048 (99 marks out of 100).	(4) Shri MANISH KUMAR AGRAWAL, Roll No.22478. (155 marks out of 200) Shri MANISH KUMAR AGRAWAL, Roll NO.22478 (77 marks out of 100).


The J.K, Doshi Prize and Late Lt. Col. Ambuj Nath Bosa Memorial Prize The A.F. Ferguson Prize and the R. Venkatesan Memorial Prize The Sukh Nandan Gupta Kapoori Devi Prize The U.C. Majumdar Prize and the S.M. Shah Prize The R.V.K, Umarjee Prize and S.S. Ghosh Prize	Best paper on Management Accounting and Financial Analysis (Paper 2) Best paper on Advanced and Management Auditing (Paper 3) Lady candidate who secured the highest marks In Advanced and Management Auditing (Paper 3) Best paper on Corporate Laws and Secretarial Practice (Paper	Shri VIKASH BAINGANI, Roll No.8074 jointly with Shri SUD1PTA KUMAR BANERJEE, Roll No. 18837 and Ms. ANUPMA JINDAL, Roll No.24086 (85 marks out of 100). Shri S. CHANDRASEKARAN, Roll No. 10628 (74 marks out of 100). Ml, SHUKLASHALJNI RAJENDRA, Roll No.7488 (70 marks out of 100). Shri VIVEK GUPTA, Roll No. 21665 (72 marks out of 100).	Shri ANIRUDDHA HEMANT CHITNIS, Roll NO. 14492 (93 marks out of 100). Shri SIDDARTHA KAPOOR, Roll NO. 12557 (78 marks out of 100). Ms.ASITA SONI, Roll No. 05422 (76 marks out of 100). Shri SUDHIR, , Roll No. 20387 (64 marks out of 100).


	Best paper on Advanced Cost Accounting and Cost Systems (Paper 5)	Shri VIVEK GUPTA, Roll No.21665 (97 marks out of 100).	Shri SANDEEP MANTRI, Roll No.01860 jointly with Shri MODY ASHISH JAYENDRA, Roll No. 12814 and Shri MANISH GUPTA, Roll No. 23507 (82 marks out of l00).

PART III—SEC 4] THE GAZETTE OF INDIA, SEPTEMBER 25, 1999 (ASVINA 3, I921) 8329

The Manish Gupta Memorial Prize and T,R, Chadha Prize The N.M. Shah Prize, Suri Memorial Prize and A.J. Shah Amita Memorial Prize	(2) Best paper on Systems Analysis, Data Processing and Quantitative Techniques (Paper 6) Best paper on Direct Taxes (Paper 7)	Shri KRISHNA RAJARAM, Roll No. 5613 Jointly with Shri JYOTI KUMAR AGARWAL, Roll No. 19541 (84 marks out of 100). MS. RICHA MITTAL, 'Roll No.22532 (80 marks out of 100).	Shri MANISH GUPTA, Roll No. 23507 (85 marks out of 100). Shri SACHIN GUPTA, Roll No.23764 (73 marks out of 100).


The Vandana Suryanarayanan Prize and Shri M.D. Rajamachikar Prize The G. Basu Foundation Award Smt. Sarojini Sitaram Memorial Sliver Medal, The S. Viswanathan Memorial Prize and Smt. Vanjena Rani Prize	Best paper on Indirect Taxes (Paper 8) Best student of the year 1998 Best lady candidate of the year 1998	MS. ROSHI JAIN, Roll No. 11124 (82 marks out of 100). Shri B. SARAVANA PRASATH, Roll No. 11048 May, 1998 Examination (608 marks out of 800). Ms. ROSHI JAIN, Roll No. 11124, May, 1998 Examination (577 marks out of 800).	Shri K. KOUSHIK, Roll No.03920, Shri RATUL SENGUPTA, Roll No. 10481, Shri RAHUL BAGARIA, Roll No. 18827 and Shri VIKAS BHUTRA, Roll No. 18871 (68 marks out of 100).


The Shaliesh Kapadla Silver Medal Doha Chapter of ICAI Prize	Best student among the second best students of the year 1998 Best student among the third best students of the year, 1998
		Shri VIVEK GUPTA, Roll No.21665 May, 1998 Examination (571 marks out of 800).
The N.N. Des Prize	Best student of the year 1998 in Group-I	Shri B. SARAVANA PRASATH, Roll No.11048, May, 1998 Examination (312 marks out of 400).
The Balachander Memorial Silver Medal	Best student of the year 1998 In Group-II	Ms. ROSHI JAIN, Roll No. 11124 May, 1998 Examination (320 marks out of 400).

3330 THE GAZETTE OF INDIA, SEPTEMBER 25, 1999 (ASVINA 3, 1921) [PART III—SEC. 4

The following candidates were awarded Certificates of Merit:

RANK	1008 Examination May,
	Roll No.	Name & marks obtained	Roll No.
I If i I II	37831 22871 32265	Shri KALAKONDA SUDHEER ( 432 marks out of 600) Shri SUMU KUMAR SANGHAI (403 marks out of 600) MS. ANUPAMA TANEJA (399 marks out of 600)	01054 27325 01324

Basis

(2)

Ms. K SUBHASHlNI, Roll No.01054.

Shri PRAMOD ACHUTHAN, Roll No.27325 MS. K SUBHASHINI, Roll No.01054 (446 marks out of 600), Ms. K SUBHASHINI, Roll No 01054 and Ms. .G. VIDYA, Roll No.01324 (90 marks out of 100).

Shri SUMESH ^•^i^NANOrtAO Roll No. 22563 (81 rnarks out of 100).

with Ms, ANUPAM MITTAL, Roll No. 3045 and Shri SUMIT KUMAR SANGHAI, Roll No. 22871 (76 marks out of 100).

Shri SANDEEP GARG,

(87 marks out of 100).

Shri JAHANGIR HUSSAIN, RoII No.36673 (83 marks out of 100).

PART III—SEC. 4] THE GAZETTE OF INDIA, SEPTEMBER 25, 1999 (ASVINA 3, 1921) 3331

(3) Shri KALAKONDA SUDHEER, Roll No.37831 (95 marks out of 100). Shri SANJAY CHHABRA, Roll No.25753 (87 marks out of 100).		( 4 ) Shri VTDYA SANKARARAMAN, Roll No. 19237 (93 marks out of 100). Shri PRINUT JANAK SHAH, Roll No. 13406 and Ms. S. ARCHANA, Roll No.32685 (85 marks out of 100).

Vandana Best paper on Suryanarayanan Cost Prize Accounting (Paper 4)
The U.K. Best paper on Bhargava Prize Income Tax and Central Sales Tax (Paper 5) The Suri Memorial Best student of Prize the year

Doha Chapter of Second best ICAI Silver Medal candidate of the year

Ms. K. SUBHASHINI, Roll N0.01054 November, 1998 Examination (446 marks out of 600). Shri PRAMOD ACHUTHAN, Roll No.27325 November, 1998 Examination (445 marks out of 600).

The following candidates were awarded Certificates of Merit:

11327

13669

04368

01147

III

09483

05553

Name & marks obtained Shri VIKAS GUPTA (315 marks out or 400) Ms. S. VIJAYALAKSHMI (305 marks out of 400) Shri MAN MOHAN MALL (304 marks out of 4003

Name & murks obtained Ms. R. SHRUTHI (331 marks out of 400) Shri ROHIT SEKSARIA (319 marks out of 400) Shri MANISH GUPTA (317 marks out of 400)

( 2)

       (1)
Shri Sultan Chand
                   Best candidate   Ms.  R SHRUTHI,          Shri VIKAS GUPTA
Memorial Prize
                                    Roll No.11327.           Roll No. 13669.
S.R. Batliboi Prize
Shri Sultan Chand  Second Best      Shri ROHIT SEKSARIA,     Ms.  S. VIJAYALAKSHMI,
Memorial Prize     candidate         Roll No.04368.          Roll No.01147
Chandulal Kapuri   Third Best       Shri MANISH GUPTA,       Shri MAN MOHAN
Devi Charitable    candidate        Roll No.09483.           MALL,
Trust Prize                                                  Roll No.05553.
P.N. Shah Prize    Best Lady         Ms.  R. SHRUTHI,        Ms.  S. VIJAYALAKSHMI,
                   candidate         Roll No. 11327          Roll No.01147
                                    (331 marks out of 400).  (305 marks out of 400).

3332 THE GAZETTE OF INDIA, SEPTEMBER 25. 1999 (ASVINA 3, 1921). [PART III—SEC. 4

(1)	(2)	(3)	(4)
K.V. Chandramoull Memorial Prize	Best Paper on Mathematics (Paper 3 Section 'A')	Shri KALPESH SARAF, Roll No.01095 jointly with Shri ROHIT SEKSARIA, Roll No.04368, Shri AMIT TlWARI, Roll No.05646 and Shri JITENDER KUMAR JAIN, Roll No.07914 (50 marks out of 50).	Shri SHARAD S. MOHNOT, Roll No. 15843 (48 marks out of 50).
Ganeshmal Patnl Memorial Prize	Best Paper on Statistics (Paper 3 Section'B')	Shri R JAGANNATH PRASAD, Roll No. 11024 jointly with Ms. R. SHRUTHI, Roll No. 11327, Shri DEORAS SURABHI NIRANJAN, Roll No. 15000, Ms. M. UMA A. GOMATHY, Roll No. 15166, Shri JAIN AMITKUMAR JEETMAL, Roll No. 15673, Shri DE SA DOMINIQUE JESSICA JOHN, Roll NO. 16521, Shri PAHARIA VINAY INDRAKUMAR, Roll No. 16882 (50 Marks out of 50).	Shri L. NAGARAJAN, Roll No.01002 (50 marks out of 50).
The Venkatachalom Mohan Prize Mahaveer Raj Bhandari Prize	Best paper on Economics (Paper 4) Best student of the year 1998	Ms. NIDHI KANORIA, Roll No.01632 (75 marks out of 100). L1327 Ms. R SHRUTHI, Roll No. 331 marks out of 400). May, 1998 Examination (.	Ms. SHUETA GUPTA, Roll No. 14336 (73 marks out of 100).

PART III—SEC. 4] THE GAZETTE OF INDIA, SEPTEMBER 25, 1999 (ASVINA 3, 1921) 3333

91 a) Number of cases considered by the Council under Section 21 for its prima facie opinion as to whether the case warranted reference to Disciplinary Committee or not.

b) Out of the above, number of cases referred by the Council to

60 Disciplinary Committee for enquiry.

77 Number of cases concluded by the Disciplinary Committee during the above period (out of the total pending cases with the Committee for enquiry).

10' 3. Number of reports of Disciplinary Committee considered by the Council (Including reports of those cases, which were heard during the earlier years).

Out of the above :-

04 a) Number of cases in which Respondents have been found guilty under the First Schedule for affording a hearing before the Council for passing order under Section 21(4).

03 b) Number of cases in which Respondents have been found guilty under the Second Schedule and/or other misconduct, to be referred to High Courts under Section 21(5).

01 (c) Number of cases in which Respondents have been found guilty under the First Schedule and the Second Schedule/other misconduct.

(d) Number of cases referred back to the Disciplinary Committee

01 for further enquiry.

(e) Number of cases In which Respondents have been found not

02 guilty of any misconduct

06 Cases heard under Section 21(4) in respect of the Respondents who were found guilty under the First Schedule.

02 Number of cases disposed of by the High Court under Section 21(6) during the period from 1st April, 1998 to 31st March, 1999.

38 THE GAZETTE OF 1NDIA. SEPTEMBER 25, 1999 (ASVINA 3, 1921) [PART III—SEC. 4

Given below is a resume of important activities of some of the Non-Standing Committees of the Council.

As in the past, the Accounting Standards Board continued its efforts towards harmonisation of accounting policies and practices in use In the country. To this end, the Board carried out a number of activities during the period under report. During the period, the Board finalised the revised Accounting Standard (AS) 2, Valuation of Inventories. The Board also issued the exposure draft of a proposed accounting standard on * Borrowing Costs for comments.

Besides the above, the drafts of following proposed accounting standards are at various stages of formulation:

• Consolidated Financial Statements • Earnings Per Share • Plantation Industries • Intangible Assets • Related Party Disclosures • Segment Reporting • Accounting for Investments in Associates • Discontinuing Operations • Leasing

Accounting Standard (AS) 7, Accounting for Construction Contracts Is under revision.

Study Groups constituted by the Board are engaged in preparing the preliminary drafts on the following subjects:

• Accounting for Income Taxes • Financial Instruments • Financial Reporting of Interests in Joint Ventures • Impairment of Assets • Interim Financial Reporting • Provisions, Contingent Liabilities and Contingent Assets

In addition to the projects being pursued by the APC, as detailed in the main report, the Committee proposes to bring out SAPs on the following subjects: -

• Engagements to Review Financial Statements. • Engagements to Perform Agreed-Upon Procedures Regarding Financial

• Initial Engagements - Opening Balances. • Other Information In Documents Containing Audited Financial Statements. • Audit Risk. • Audit Considerations Relating to Entitles Using Service Organisations. • The Auditor's Report on Financial Statements. • Comparatives. • Consideration of Laws and Regulations In Audit of Financial Statements. • Study on Auditing In EDP Environment. • Guidance Note on Audit of Capital and Reserves. • Guidance Note on Audit of Expenses. • Guidance Note on Examining the implications of Directions IssuedbyRBI

3.2 Other projects underprogress:

• Accounting tor Chit Funds. • Accounting in Telecommunications Industry. • Accounting for ports Operations. • Accounting for Oil and Gas Producing Enterprises. • Accouting and Auditing Technical Guide on Automobile Industry. • Accounting and Auditing Technical Guide - Hotel Industry. • Accounting for Factored Debts. • study on Accounting and Audlting in Power Sector (both generation as well as distribution)

* Study on Euro - issues • study on AuditofEntitlescarryingonNewspapers Publishing Activity.

• Study on reporting segment wise Information.

• Study on Environment and energy Audits.

• . study on Risk Based Auditing,

•

Revision of

Trends

Published

Accounts

RevisionofGeneralGuidlinesoni n t e r n al A u d it ( w i th s p e c i al

3336 THE GAZETTE OF INDIA. SEPTEMBER 35, 1909 (ASVINA 3, 1921) [PART III—SEC. 4

• Guidelines on Internal Audit-Sugar Industry. • Guidelines on Internal Audit-Petroleum Industry. • Guidelines on Internal Audit - Road Transport Industry. • Guidance Note on Accounting for Securitisation. • Guidelines on Internal Audit-Textile Industry. • Accountability of Public Expenditure in Government Departments and Similar Non-profit Institutions.

• Guidelines on Internal Audit - Electronics Industry. • Guidelines on Internal Audit - Fertilizer Industry. • Guidelines on Internal Audit • Aluminium Industry. • Guidelines on Internal Audit-Coal Mining Industry. • Guidelines on Insurance Survey. • Issues Involved in drafting a Prospectus. • Study on Joint Ventures abroad. • Study on Futures and Options. • Study on Anti-Dumping Law and Procedures. • Study on Winding-up - Role of Professional Accountants. • Technical Guide on Accounting and Auditing of Entitles Carrying on

PART III - SEC . 4] THE GAZETTE OF INDIA. SEPTEMBER 25, 1909 (ASVINA 3, 1921) 3337

                        Public Sector Company            Indian Oil Corporation Ltd.
Silver Shield for  best Non-Financlal  Private Sector    Infosys Technologies Ltd.
presented accounts      Company
                        Banks & Financial  Institutions  Housing  Development
                                                         Finance Corporation Ltd.
                                                         Cheminor  Drugs Ltd.

Plaque for highly commended accounts

The Corporate laws Committee by and large was active and played a pro- active role in response to the changing dimensions In the area of Corporate Laws. The significant achievements and initiatives of the Committee during the year ended 31rt March, 1999 were as follows:

4.1 The Committee submitted to the Government a Memorandum of Suggestions on amendments to the Companies Act, 1956 pending the passage of the Companies Bill, 1997. Subsequently, pursuant to the introduction of the Companies (Amendment) Ordinance, 1998, the Committee once again submitted a Memorandum of Suggestions on the said Ordinance. In this connection, the Committee Is happy to report that many of the suggestions made in the Memorandum(s) have been taken into active consideration by the Government and were also incorporated in the Companies (Amendment) Act, 1999 passed recently by the Parliament.

4.2 The Committee submitted a detailed Memorandum of Suggestions on the Foreign Exchange Management Bill, 1998 and Prevention of Money Laundering Bill, 1998 to the Parliamentary Standing Committee on Finance.

4.3 The Committee maintained close interaction with the Department of Company Affairs during the year 1998-99. The Committee conducted, for the first time, on all India basis, a five day training programme for Central Company Law Officers of the Department of Company Affairs at Bangalore between 14th-18th December, 1998. Shri T,S, Krishnamurthy, Secretary, Department of Company Affairs was the Chief Guest for the valedictory function.

4.4 The Study Group for reviewing the last five years' statutory audit reports of Public Sector Undertakings submitted the interim report and final research report is expected shortly,

4.5 The Committee prepared a draft Guidance Note on Accounting for Buy-back of Shares which is currently under consideration.

3338 THE GAZETTE OF INDIA, SEPTEMBER 25, 1999 (ASVINA 3, 1921) [PART III—SEC. 4

5.1 Service Tax

The Finance (No.2) Act, 1998 brought 12 more services under the Service tax net including services rendered by practising Chartered Accountants. The Government brought the 12 new services under the tax net with effect from 16th October, 1998. By means of Notification No. 59/98 Service tax dated 16th October, 1998, certain specified services rendered by a Chartered Accountant, a Cost Accountant or by a Company Secretary have been subjected to service tax. The multifarious technical issues In connection with the incidence, applicability, procedural matters and other critical issues had provoked a host of debate and degree of confusion. Since service tax had been levied for the first time on specified services rendered by a practising chartered accountant, an urgent need was felt to provide guidance to our members regarding the relevant legal provision, scope of the levy, procedures to be followed etc. so that our members can properly comply with the provisions. Hence, the Fiscal Laws Committee brought forth a publication entitled "Service Tax on services provided by Chartered Accountants - A Study", to guide the members.

5.2 Workshop on Union Budget, 1999

A high level Workshop was conducted to consider the Union Budget, 1999. The Workshop considered the budget proposals in two sessions. The pre-lunch session was devoted to a discussion of proposals relating to direct faxes and the post-lunch session discussed the Indirect tax proposals. The Workshop was graced by Shri Ravi Kant, Chairman, Central Board of Direct Taxes, Shri A. Balasubramaniam, Member (Legal), CBDT, Shri A.N. Prasad, Joint Secretary (TPI.-I), CBDT and Shri G.C. Srivastava, Joint Secretary (TPL-II), CBDT. Shri T.R. Rustogi, Joint Secretary (TRU), Central Board of Excise & Customs, attended the post-lunch session on indirect taxes.

5.3 Budget Memorandum - 1999

The Institute submitted a pre-budget Memorandum in December, 1998 and the Government has been kind enough to accept many of the suggestions like tax neutrality in respect of business reorganisations, recommendations in respect of allowance of expenditure in relation to Y2K compliance etc. Further, the Institute submitted a post-budget Memorandum for the year 1999 to the Union Finance Minister, CBDT, and other concerned authorities containing its comments and suggestions on the Finance Bill, 1999.

5.4 Revised Forms of Tax Audit Reports

The Government has notified the revised forms of tax audit reports. The tax audit reports have to be given in Form 3CA or 3CB and prescribed particulars are to be furnished in Form 3CD. The work relating to the revision of the Guidance Note on Tax Audit is in progress.

PART III—SEC 4] THE GAZETTE OF INDIA. SEPTEMBER 25, 1999 (ASVINA 3, 1921) 3399

5.5 Residential Course on Fiscal and Corporate Laws

A Residential Course on Fiscal and Corporate Laws is proposed to be held by the Committee jointly with the Corporate Laws Committee at Mahabalipuram near Chennai in the month of October, 1999.

5.6 All India Conference on Fiscal and Corporate Laws

All India Conference on Fiscal and Corporate Laws is proposed to be-held by the Committee jointly with the Corporate Laws Committee, at Bangalore In the month of December, 1999.

5.7 Revision of Publications

The following publications are under revision :

• Taxation of Non-Residents.

• Guide to Audit of Public Trusts under the Income-tax Act, 1961. • Taxation of Charitable Trusts and Institutions.

6.1 The Committee on Financial Markets & Investors' Protection played an important role in tune with the changing conditions on various matters pertaining to the financial markets. The name of the Committee was changed from "Committee on Capital Markets and Investors' Protection" to "Committee on Financial Markets & Investors' Protection." The renaming was done with a view to widen the scope of Committee so as to include areas like money market, financial markets within the ambit of functions of the committee.

6.2 In order to have wider participation by institutions relating to financial markets, the Committee included in the Committee, nominations from the Delhi Stock Exchange, SEBI and National Stock Exchange Ltd.

6.3 The Committee conducted a one day Seminar on the theme "Capital Market in the New Millennium at Lucknow in association with Lucknow Branch of Central India Regional Council.

6.4 The Committee constituted a Study Group for recommending suggestions to SEBI on 'Take-Over Code, 1997" and submitted consolidated suggestions on various issues listed out by SEBI.

6.5 The Committee also submitted a Memorandum of Suggestions to the Parliamentary Standing Committee on Finance on the Securities Contracts (Regulation) Amendment Bill, 1998.

6.6 It also undertook the initiative of filling-up the questionnaire sent by SAFA on the research project relating to capital markets in SARC countries.

6.7 On 23rd and 24th February, 1999, the Committee conducted Training Programme on Derivatives at Mumbai in association with Western Indian Regional

3340 THE GAZETTE OF INDIA, SEPTEMBER 25, 1999 (ASVINA 3, 1921) [PART III—SEC. 4

Council and National Stock Exchange Ltd. The programme was inaugurated by Shri L.K, Singhvi, Sr. Executive Director, SEBI. The programme received overwhelming response and a mock trading session was also shown to the participants at National Stock Exchange Ltd.

6.8 The publication of booklet on "Investors' Protection" was entrusted to an author in Mumbai and currently it is in the process of finalisation by the Committee.

Opinion on a large number of queries, received from members on diverse subjects was Issued by the Expert Advisory Committee of the Institute as in the past. Volume - XVIII of the 'Compendium of Opinion' containing opinion issued between January, 1998 and January, 1999 Is under compilation.

The Institute continued its efforts to impart education to the members on the topics of current relevance through its Continuing Education Programmes. The Institute lays great emphasis on continuing education to meet the new challenges.

8.1 During 1998-99 Continuing Professional Education Programmes were conducted on the following subjects :-

Taxation of Deemed Sale Transaction; Central Sales Tax; Direct Taxation (With special reference to Corporate Restructuring and Real Estate Development Transactions); Project Finance; Credit Rating; Central Excise; Value Added Tax; Project Evaluation; EDP Audit - Pitfalls & Safeguards; System Audit (Study material for training courses by Computer Centre); Communication Skills - I; Bank Audit CD ROM; Y2K Compliance; Bank Audit; and Two teleconferences on 'Y2K and Bank Audit and ' Y2K Compliance' were also held.

8.2 The Committee held several programmes for the benefit of the members, some of them jointly with other associations. Particulars of such programmes and the topics covered are furnished below:

In association with

1. Corporate Governance

26.4.1998 to 28.4.1998

The Institute of Chartered Accountants of Nepal

Manali

28.5.1998 to 30.5.1998

Operational and Management Accounting

Delhi

3. Corporate Accounting and Reporting

13.6.1998 to 22.8.1998

PART III - SEC .4] THE GAZETTE OF INDIA, SEPTEMBER 25, 1999 (ASVINA 3, 192I) 3341

4.    Management and                 Delhi       5. 10.1998 to
      Management Accounting                      17.10.1998
5.    Corporate Finance ~            Delhi       9.11.1998 to
      Emerging Trends                            15.11.1998
6.    Pitfalls and Safeguards                    6.11.1998 to
                                                 8.11.1998

Delhi

21.11.1998 to 22.11.1998

Shri Ram College of Commerce Ethical Issues in Business and Finance

        Audit of Public Sector                                       Comptroller and
        units                                                        Auditor General of
                                                                     India
8.3    The background materials published so far are :
        •     Taxation of Deemed Sale Transaction
        •     Central Sales Tax
        •     Direct Taxation (With special reference to Corporate Restructuring and
              Real Estate Development Transactions).
        •     Project Finance
        •     Credit Rating
        •     Central Excise
        •     Value Added Tax
        •     Project Evaluation
        •     EDP Audit - Pitfalls & Safeguards
        •     System Audit (Study material for training courses by Computer
              Centre)
        •     Communication Skills -1
        •     Bank Audit CD-ROM
        •     Y2K Compliance
       •      Bank Audit
        •     Concurrent Audit of Banks
        •     Taxation of Charitable Trusts and Institutions.
8.4    The Committee continued to hold post qualification  course examinations for
members.  Appropriate  measures have been taken to popularise these courses.  All
the computer centres of the Institute except Chennai continued to provide computer
education to members and students  through  specially  designed  courses.  Further,
these  computer  training  centres  are being  upgraded  in a phased  manner.  New
Computer Centres are being set up at Jaipur, Hyderabad, Ahmedabad and Guwahati.
8.5    The Committee also proposes to conduct Continuing  Education  programmes
in the areas of :

3342 THE CAZJETTE OF INDIA, SEPTEMBER 25, 1999 (ASVMA 3, 1921) [PART III— SEC, 4

• Corporate Laws • Central Excise & Customs Audit • Sales Tax Audit • Intellectual Property Rights & General Agreement on Trade in Services

To promote the interest of our members serving in industry and to develop opportunities available to our members, the Committee had undertaken following activities during the year;

9.1 As a measure to develop employment opportunities for our newly qualified members, the Committee has been successfully organising Campus Interviews twice a year during the past four years, wherein prospective employers and our new members interact and explore the possibility of taking up employment careers In various organisations. The Campus Interviews organised during the year received an impressive response from both the employers and our young members as is evident from the fact that in all 84 teams of employers evaluated the bio-data of about 4700 young members. Organisations from all over the country, both from the public and private sectors including multinationals, participated In the scheme. As a measure to enable our young members to face the Interview Boards with more confidence, Workshops on improving the skills for an interview and Orientation Programmes were conducted at various interview centres which have been highly appreciated by the young members who attended those programmes:

Statistical information regarding Campus Interviews for newly qualified Chartered Accountants is as under:

A. Interviews held in September-November, 1998.

Centre

Dates of Interviews

No. of Interview panels of Companies

No. of Bio-data Reviewed by Companies

24th - 26th September, 1998 6th - 10th October, 1998 12th - 17th October, 1998 22nd - 25th October, 1998 26th - 30th October, 1998 2nd - 3rd November, 1998 5th - 6th November, 1998

Bangalore Calcutta Mumbai Chennai New Delhi Hyderabad Ahmedabad

178 333 840 361 802 92 138

4 5 8 7 9 4 4

PART III—SEC. 4] THE GAZETTE OF INDIA, SEPTEMBER 25, 1999 (ASVINA 3, 1921) 3343

B. Interviews held in March - May, 1999.

Centre Date of Interviews No.of

No. of Interview panels of Companies

Bio-data reviewed by Companies

116

Ahmedabad

26th and 27th, March 1999

236

Calcutta

5th, 6th, 7th, 8th and 9th April, 1999

188

Chennai

12th, 13th, 14th, 15th and 16th April, 1999

610

Mumbai

19th, 20th, 21st, 22nd, 23rd and 24th April, 1999

28th and 29th, April, 1999 263

3 Bangalore

606

New Delhi

3rd, 4th, 5th, 6th, 7th and 8th May, 1999

9.2 An All India Seminar on 'Information Technology Industry A Vision for Tomorrow' was organised at Hotel Ramada Manohar, Hyderabad on 7th and 8th August, 1998. The seminar was a resounding success. 430 delegates from all over the country attended the seminar. The Seminar was inaugurated by Shri R. Chandra Sekhar, IAS, Secretary (IT), Government of Andhra Pradesh and CMD, A. P. Industrial Infrastructure Corporation, Hyderabad. Shri S.L. Daga and Shri S, Gopalakrishnan were the coordinators; of the Seminar.

9.3 A Round Table Discussion on Structuring of Power Projects was organised on 12th March, 1999 at Hotel Maurya Sheraton, New Delhi. High level executives from power sector organisations, Financial Institutions and a foreign embassy participated in the discussions.

9.4 The Committee proposes to provide the following services :

• Publishing monthly newsletter • Collecting authentic data • Organising free lecture meetings through Regional Councils and Branches • Formulation of Study Circles, • Provision of JURIX software packages for Regional Councils and Branches,

9.5 The Committee has been active in popularising Employment Assistance Scheme for Chartered Accountants including those retiring from service. This service is being provided at the Regional Council offices of the Institute.

1344 THE GAZETTE OF INDIA, SEPTEMBER 25, 1999 (ASVINA 3, 1921) [PART III—SEC. 4

9.6 The Committee continues to be active in improving the status and role of members in industry.

The Council has at its meetings held in May and June/July 1999 taken the decisions on certain recommendations of the Committee, as under: -

• A Chartered Accountant in practice or a firm of Chartered Accountants may be permitted to carry out Y2K compliance certification of an entity alongwith the audit of the said entity, unless the Chartered Accountant in practice or firm of Chartered Accountants, as the case may be, was associated either directly or indirectly in designing and conversion of the computer system for Y2K compliance.

Notification no. I-CA/7/43/99 under clause (ii) of Part II of the Second Schedule of the Chartered Accountants Act, 1949 has been published in Part III Section 4 of the Gazette of India dated 31st July 1999.

• The Council has decided to Include a direction in the Code of Conduct that in the case of an undisputed, audit fee for carrying out the statutory audit under the Companies Act or various other applicable statutes having not been paid, the incoming auditor should not accept the appointment unless such fee is paid. In the case of sick units, BIFR referred units, the bar shall not apply. The provision for audit fee made in accounts signed by both the auditee and auditor shall be considered as 'undisputed' audit fee. The Council also decided to issue a notification under clause (ii) of Part II of the Second Schedule to the Chartered Accountants Act, 1949 to that effect.

• The Council has decided that members in practice who are in full-time employment, their practice shall not be considered as their main occupation. The Council has, however, remitted the matter of reframing of the existing guidelines laid down by the Council earlier for determination of the main occupation of members to ascertain their eligibility to train articled clerks, in light of the above decision, back to the Committee.

• The suggestion of the Committee, for issuance of notification under clause (ii) of Part II of the Second Schedule to the Chartered Accountants Act, 1949 for enforcing the decisions of the Committee communicated to the incoming auditors not to accept the appointments as auditors, has been accepted by the Council subject to formulation of detailed guidelines by the Committee in light of the views expressed in the Council and approval of those guidelines by the Council.

The International Affairs Committee undertook a number of major initiatives and was able to fructify a concrete plan of expanding the Institute's activities internationally. These are detailed below :

PART III—SEC. 4] THE GAZETTE OF INDIA, SEPTEMBER 25, 1999 (ASVINA 3, 1921) 3345

11.1 The Institute continued to play an active role in various regional and International apex forums of professional accountants during the year. The Institute has been a founder member of the International Federation of Accountants (IFAC) set up in 1977, Confederation of Asian and Pacific Accountants (CAPA) set up In 1976 and South Asian Federation of Accountants (SAFA) set up In 1984.

11. 2 international federation of Accountants

Nominees of the Institute continued to represent the Institute In Ethics Committee of IFAC and the Auditing Practices Committee of IFAC. The nominee of the institute on the IFAC's Ethics Committee is also associated as a member of the IASC Steering Group on formulation for extractive Industries.

The nominee of the Institute, Mr. Rahul Roy attended the IFAC's Ethics Committee meeting held in September, 1998 at Washington In which a working group draft on prohibitions was discussed. He was also chosen to represent IFAC's Ethics committee at conference of East, Central and Southern African Federation of Accountants in November, 1998 at Nairobi Kenya. In addition, he represented the Institute at IFAC's Sub-Committee meeting on Ethics held in London.

The Other nominee of the Institute, Mr. M.M. Chltale represented the Institute at the IFAC's Auditing Practices Committee meetings held In June, 1998 at Caracus Venezuela and in October, 1998 at Kyoto, Japan.

11.3 International Accounting Standards Committee

The nominee of the Institute, Mr. T.S. Vishwanath continued to represent the Institute at the International Accounting Standards Committee. He represented the Institute at IASC Board Meeting held In April, 1998 at Kuala Lumpur Malaysia. He also represented the Institute in Its meetings held In Canada in July, 1998, at Zurich, Switzerland in November, 1998 and at Washington in March, 1999.

11.4 South Asian Federation of Accountants (SAFA)

The Permanent Secretariat of SAFA continues to be located at ICAI, New Delhi. The 33rd SAFA Assembly meeting was held at Colombo, Sri Lanka on 3rt May, 1998 which was preceded by SAFA Regional Conference on ' Positioning the region as a Global Economic Power'. The then Institute's President, Shri Rahul Roy, led the Indian delegation. Shrl T.S. Vishwanath, Past President of the Institute was unanimously elected as Vice-President, SAFA for the year 1998. The Assembly, amongst other matters, discussed, through a Seminar, the possible ways of positioning the Region as an economic power.

The 34th Assembly meeting of SAFA was held In Dhaka, Bangladesh on 2nd August, 1999. The then Vice-President of SAFA, Shrl T.S. Vishwanath and the then vice-President of the Institute, Shri S.P. Chhajed attended the meeting. Among the various Issues discussed in the meeting, the matter or approach to WTO issues was explored, where the Indian point of view was presented.

The 35th Assembly Meeting of SAFA was held In Calcutta, India on 3rd December, 1998. Indian delegation was led by Shri Rahul Roy, the then President,

26- 259 GI/99

3346 THE GAZETTE OF INDIA, SEPTEMBER 25, 1999 (ASVINA 3, 1921) [PART III—SEC. 4

ICAI. Shri T.S. Vishwanath, PCA, Vice-President - SAFA and Former President of the Institute was unanimously elected as President, SAFA for the year 1999. Shri Ashok Haldia, FCA, the Permanent Secretary of SAFA will also act as Executive Secretary, SAFA. SAFA achieved a milestone in this meeting in that the Mission and Strategy paper finalised by the ICAI was adopted by the Assembly.

SAFA-WTO Sub-Committee meeting was held on 20th February, 1999 at Colombo, which was preceded by technical presentation by different member bodies on their entry requirements, qualification and certification requirements. This would greatly help In MRAs in the future.

The 36th SAFA Assembly meeting was held, on 2 lrt February, 1999 at Colombo. The Institute's President, Shri S.P. Chhajed led the delegation. The major Issue considered by the Assembly was the restructuring of SAFA, so that the Mission &. Strategy as adopted could be achieved.

The 37th SAFA Assembly meeting was held on 20th April, 1999 at Chennai, India. Indian Delegation was led by Shri S.P. Chhajed, President, ICAI. The issue of financing of SAFA and Restructuring was further deliberated upon during this meeting and It was resolved that various alternatives as to amendments to the SAFA Constitution should now be explored. It was also decided to distribute WTO Related Tasks amongst the member bodies. Assembly meeting was preceded by a SAFA Seminar on 21rt April, 1999 on 'Organising for Free Trade In South Asia'.

11.5 Other Activities

During the year negotiations on Memorandum of Understanding with the Joint International Committee of the Consiglio Nazionale Del Dottorl Commercialistt (CNDC), Italy were held and concluded. A joint consultative Committee with CNDC, Italy and the Institute for technical collaboration and negotiations for execution of Mutual Reciprocity Agreement was also set up. CNDC, Italy and CNRPC, Italy under terms of Memorandum of Understanding would actively assist ICAI for obtaining European Union recognition for the Institute of Chartered Accountants of India's qualification.

The Institute entered into Memorandum of Understanding with the Institute of Chartered Accountants of Nepal and provided help of senior officers for establishing and setting up their Institute (ICAN). The Institute also sponsored ICAN for Confederation of Asian and Pacific Accountants membership. A Memorandum of Understanding was also entered Into with professional bodies In Russia, Ukraine and Kyrgyzstan for developing the profession in those countries. ICAI will help Its counterparts In those countries In various matters Including development of syllabi, examination system etc. Ukrainian Federation of Professional Accountants and Auditors was sponsored by the Institute for membership of International Federation of Accountants. A Sub-Committee has also been formed for vetting and scrutinising MOUs.

During the year the Institute assisted the Ministry of Commerce, Govt. of India in formulating and negotiating India's stand at working party on professional services negotiations at Geneva. Dialogues for bilateral/multi-lateral cooperation and mutual recognition that with a large number of countries all over world continued.

PART III—SEC. 4] THE GAZETTE OF INDIA, SEPTEMBER 25, 1999 (ASVINA 3, 1921) 3347

The Institute received an invitation from UNCTAD for presenting its views on professional education at UNCTAD (ISAR) in February, 1999 at Geneva. Shri S.P. Chhajed, President attended the above conference to represent the Institute. It was noted In the Conference that the curriculum of ICAI, is at almost par with the ' Global Curriculum' formulated by ISAR (International Standards on accounting and Reporting) Intergovernmental working group.

Confederation of Asian and Pacific Accountants accepted India's Invitation for holding EXCOM meeting in India In April, 1999. The CAPA EXCOM meeting was successfully held at New Delhi in April, 1999.

Separate negotiations with UNCTAD and OECD were continued for arranging joint International Conference in India.

During the year, a Chapter of the Institute was set up at Nairobi, Kenya.

12.1 Joint Seminars with Universities:

In Its efforts to strengthen coordination of the Institute with various Universities and Higher Secondary Boards In the country, the Committee organised seminars jointly with the following universities:

• Bharathidasan University, on "Students Education" on 10th and 11th October, 1998.

• Allahabad University on "Accounting Standards & Dynamic of Taxation" on 15th November, 1998.

• Goa University on "Recent Development in Corporate Sector- Challenges for Accounts, Accounting Education & Research Interaction between Universities and ICAI" on 21rt November, 1998

• Osmania University on "Accounting Profession and Commerce Education in the next millennium" on 11th December, 1998.

12.2 Popularisation of CA Course:

Necessary steps are being Initiated by the University & Higher Secondary Boards Liaison Committee to popularise Chartered Accountancy Course, including by using electronic medium.

12.3 Collecting Information of Chartered Accountants who have completed Ph.D.

All the Regional Councils and their branches have been requested to suitably collect Information (through Newsletter or otherwise) of Chartered Accountants who have completed Ph.D. in their regions.

3348 THE GAZETTE OF INDIA, SEPTEMBER 25, 1999 (ASVINA 3, 1921) (PART III—SEC. 4

12.4 Award of ICAI Prize/Gold Medal by Universities:

1. Allahabad University Prize
2. Banaras Hindu University Prize
3. Bangalore University Gold Medal
4. Bombay University Gold Medal
5. Calcutta University Prize
6. Calicut University Prize
7. Delhi University Prize
8. Gujarat University, Ahmedabad Prize
9. Guru Nanak Dev University, Amritsar Prize
10. Jammu University Prize
11. Jodhpur University Prize
12. Kurukshetra University Prize
13. Lucknow University Prize
14. Madras University Gold Medal
15. Maharshi Dayanand University, Rohtak Prize
16. Marathwada University, Aurangabad Prize
17. Mohanlal Sukhadia University, Udaipur Prize
18. Nagarjuna University, Guntur Gold Medal
19. North Bengal University, Raja Rarnmohanpur
(Darjeeling) Prize
20. Osmania University, Hyderabad Gold Medal
21. Poona University Prize
22. Punjab University, Chandigarh Prize
23. Ravishankar University, Raipur Prize
24. Shivaji University, Kolhapur Prize
25. Vikram University, Ujjain Prize
12.5 Recognition of C.A. Course
With continuous follow-up, the Committee has been successful in obtaining
recognition for C.A. course from few more Universities. Now In all 59 Universities
and three Indian Institutes of Management besides the Association of Indian
Universities have recognised the C.A. course for the purpose of Ph.D./Fellow
Programme. A list of Association/Institutes/Universities, which have so far
recognised the C.A. Course, is given hereunder:
(a) Association

(b)    Institutes
       1.      Indian Institute of  Management, Ahmedabad.
       2.      Indian Institute of  Management, Bangalore.
       3.      Indian Institute of Management, Calcutta.

PART III - SEC. 4] THE GAZETTE OF INDIA. SEPTEMBER 25, 1999 (ASVINA 3, 1921) 3349

l.      Alagappa  University, Algappa  Nagar, Karaikudi.
2.      Aligarh  Muslim  University, Aligarh.
3.      Dr.  Bhim  Rao Ambedkar  University, Agra.
4.      Banaras  Hindu university, Varanasi.
5.      Bangalore University,  Bangalore.
6.      Bharathidasan University, Tiruchirapalli,
7.      University  of  Bombay,  Mumbai
8.      Barkatullah Vishwavidyalaya, Bhopal
9,      Or, Babasaheb Ambedkar  Marathwada  University, Aurangabad.
10.     Bhavnagar  University,  Bhavnagar.
11.     Bharathiar  University, Coimbatore.
12.     Calicut University, Calicut.
13.     Ch.  Charan Singh University, Meerut.
14.     Cochin University of Science & Technology, Kochi,
15.     Devi Ahilya Vishwavidyalaya, Indore.
16.     Gujarat  University, Ahmedabad.
17.     Goa University, Goa.
18.     Guru Ghasidas  University,  Bilaspur (M.P.)
19.     Himachal  Pradesh University, Shimla.
20.     Jai Narayan Vyas University, Jodhpur
21.     Jiwajl  University,  Gwalior.
22.     Karnatak University, Dharwad.
23,     University of Kashmir,  Srinagar.
24.     University of Kerala, Thiruvananthapuram.
25.     Kurukshetra  University, Kurukshetra.
26.     Kuvempu University, Shankaraghatta  (Karnataka).
27.     Lucknow  University,  Lucknow.
28.     M.S. University of Saroda, Vadodara.
29.     Maharshi  Dayanand University,  Rohtak.
30.     Manipur  University,  Manipur.
31.     Mangalore University, Mangalagangothri, Mangalore.
32.     Mohanlal Sukhadia  University,  Udgipur.
33.     University of  Mysore, Mysore.
34.     Mahatma Gandhi University, Kottayam.
35.    University of  Madras, Chennai.
36.     Mahatma Gandhi  Kashi Vidyapeeth, Varanasi.
37.     Madurai  Kamaraj  University,  Madurai.
38.     North Maharashtra  University, Jalgaon.
39.     North Gujarat University, Patna.
40.     University of North  Bengal, Darjeeling.
41.    Osmania University, Hyderabad.
42.     Pondicherry  University, Pondicherry.
43.     University of Poona, Pune.
44.     Punjab University, Chandigarh
45.     Punjabi  University, Patiala.
46.     Ranchi University,- Ranchl.
47.     Rani Durgawati  Vishwavidyalaya, Jabalpur.
48.     Rohilkhand  University, Bareilly.
49.    Sardar  Patel University,  Vallabh  Vidyanagar.
50.    Sambalpur  University, Sambaipur

3350 THE GAZETTE OF INDIA, SEPTEMBER 25, 1999 (ASVINA 3, 1921) [PART III—SEC. 4

51.    Saurashtra  University, Rajkot.
52.    Shivaji University, Kolhapur.
53.    Sri Krishnadevaraya  University, Andhra Pradesh.
54.    Shri Shahu Ji Maharaj University, Kalyanpur, Kanpur.
55.    Tata Institute of Social Sciences, Mumbai.
56.    Utkal University  Bhubaneswar.
57.    Sri Venkateshwara  University, Tirupati.
58.    Vikram University, Ujjain.
59.    Yashwantrao Chavan Maharashtra Open University, Nasik.

12.6 In the open general session of the Association of Indian Universities Seminar at Indore from 18th -20th December, 1998, a desire was expressed by Vice- chancellors of these Universities which are Imparting Commerce as a subject at undergraduate level for harmonising commerce education in the country.

The University & Higher Secondary Boards Liaison Committee has accepted the above challenge of harmonising commerce education in the country at undergraduate level. Steps have been initiated In this direction as well.

The major activities of this Committee may be broadly divided Into Printed Publicity, Publications, Press Publicity, Issue of Commemorative Stamp and Video Film.

13.1 Printed Publicity

• Students Folder: As a part of its strategy to create an awareness about the profession of chartered accountants among the students, the Public Relations Committee brought Out a three fold brochure captioned "Chartered Accountancy; A Passport to Challenging Career" for the use of students. 20000 copies of the Students folder were printed and distributed to branches and regional offices.

• Poster: A multi-coloured poster depicting the scheme of entry to CA profession was developed by this Committee, so as to attract the students towards the CA course. 1200 copies of the coloured poster were printed and distributed to branches and regional offices for being used during the career counselling.

13.2 Publications

• Quarterly Newsletter As a part of its Image building exercise, the PRC is bringing out a quarterly newsletter of the Institute titled 'ICAI Patrika'. Four Issues of the Patrika have been published so far.

PART III—SEC 4] THE GAZETTE OF INDIA, SEPTEMBER 25, 1999 (ASVINA 3, 1921) 3351

• Brochure in Question - Answers Form : It decided to bring out a brochure for the benefit of students in Question - Answers form. The Brochure aimed at providing clarification/answers to all the conceivable queries/questions, which crop up In the minds of students Intending to Join CA course. This could be a part of strategy on career counselling and can supplement the Help Desk. The draft of the text of the brochure Is likely to be finalised soon.

• Profile of ICAI: The draft text of the Profile of the Institute has been prepared and sent to members for final vetting.

• Book containing speeches of Past Presidents: The Committee for Golden Jubilee Celebrations has proposed to bring out a book containing the speeches delivered by all past Presidents at the Annual Meetings of the Council. This task has been assigned to it. Speeches of the past Presidents have been compiled and the work would be completed very shortly.

• Directory of the Institute: The Golden Jubilee Committee decided that a Directory of the Institute may be published which may contain details Including history of the branch/Council and its building, the facilities available In the office, number of members at time of Inception and at present, city-wise details of number of CA.s and similar other details alongwith photographs. The Chairmen of all Regional Councils and branches have been requested to furnish the required Information. A large number of branches have already furnished the required Information while the others have been reminded.

13.3 Press Publicity

The last about twelve months have been very eventful for the Institute particularly when the Golden Jubilee Celebrations were Inaugurated by the Hon'ble Prime Minister of India Shri Atal Beharl Vajpayee. Both the inaugural function and the Panel discussion held at the Slrl Fort Auditorium on lrt July, 1998 were widely publicized in the print media and also on all Television Channels.

After the inaugural function, a concerted publicity was organised against imposition of service tax on chartered accountants. The President and also the Vice- Presldent briefed press correspondents on the issue.

The next major event was the Golden Jubilee Conference, which was organised at Calcutta and the Press and Media attended the Press Conferences held in this connection, in large numbers. The Conference got wide publicity in English, Hindi and other language newspapers not only In Calcutta but also in Delhi, Mumbai and other parts of the country. TV channels like Doordarshan, CNBC, Calcutta City Cable Network and Khas Khobar also covered the Conference.

Media coverage was also arranged for the 49* Annual Function, Round Table Discussions on Structuring of Power Projects, Workshop on Budget proposals, SAFA Assembly at Sri Lanka and Chennai, MOU signing ceremony with IIM, Bangalore, 200* Council Meeting etc.

3352 THE GAZETTE OF INDIA. SEPTEMBER. 7.5. 1999 (ASVINA 3, 1921) [PARTIII—SEC.4

Since 29th January, 1998. the PRC has issued over 125 handouts on matters relating to election of President & Vice-President, Campus Interviews, (visit of Ministers to Institute), IBA & ICAI Collaboration, Agreements with ICA of Nepal, Ukrainian Chamber of Professional Accountants and Auditors, Chamber of Audit of Kvrgyz Republic, Export of Professional Services, Pre-Budget and Post Budget Memorandum, CA results, Service Tax, 50 years of the Institute, Accounting Standards, Y2K Issue, Foreign Exchange Management and Prevention of Money Laundering Bills, Companies (Amendment) Ordinance, 200th Council Meeting, MOU with IIM Bangalore etc. Large number of newspapers in English, Hindi, and other languages have carried all releases. Besides, two press conferences were organised at Mumbai and Calcutta. Ail support and help, including preparation of press kit for the conferences, were extended by PRC to the Regional Councils.

A large member of English, Hindi and other vernacular newspapers have prominently published features and articles with photographs, on chartered accountancy as a promising career.

The Committee was also able to bring out a series of articles in the Education Times of The Times of India, on Preparation for CA exams. The articles were published during September and October, 1998 and were written by the faculty from the Board of Studies of the Institute, Another series Is proposed to be brought out from July/August 1999.

Feedback Service:- The news clipping service started by PRC earlier is being continued. A set of selected newspaper clippings relating to the profession and concerned Government departments is being circulated to the President, Vice- President, Secretary and Senior Officers of the Institute.

13.4 Video Rim

The major activity during the period was Inauguration of the Golden Jubilee Celebrations followed by the Panel Discussion on 1st July, 1998. The task of preparing the video film of the two functions was entrusted to an outside agency, who had prepared earlier two documentaries for the Institute. Copies of the video tape received has been circulated to all regional offices and branches thereof, Foreign Chapters as also to all Council Members.

Steps had been taken for making the Ties and Lapel pins of the Institute more attractive.

PART III—SEC. 4] THE GAZETTE OF INDIA, SEPTEMBER 25, 1999 (ASVINA 3, 1921) 3353

3354 THE GAZETTE OF INDIA, SEPTEMBER 25, 1999 (ASVINA 3, 1921) [PART III-SEC. 4

• Honouring eminent Chartered Accountants. • Institution of Golden Jubilee medals by the Institute. • Commencement of research work on sequel to "History of Accountancy Profession",

• Advance actions for creation of archives of the Institute. • Publication of two golden Jubilee research monographs. • Decision to award Golden jubilee Gold Medals to best students.

Many of the above have already been achieved/executed.

The historic event of completion of 50* year of the Institute was celebrated in a grand manner. Hon'ble Shri Atal Behah Vajpayee, Prime Minister of India, Hon'ble Shri Ram Jethmalanl, Minister of Law, Justice and Company Affairs, and Hon'ble Shrl Suresh P. Prabhu, Minister of Environment 81 Forests attended the Inaugural Function. This was followed by Golden Jubilee Lecture on "Role of Accounting Profession In Economic Development" and panel discussions by eminent panelists on "Contributions of the Accountancy Profession ; Expectations of the 21* Century".

Recognising the need for a re-look at the whole gamut of the election regulations/procedure which are in force for the last 7 years, In the light of the experience gained over the years In general and the practical difficulties/problems experienced/faced In the conduct of the elections to the Seventeenth Council and Sixteenth Regional Councils held in December, 1997, In particular, the Council of the Institute constituted a Committee, called "Committee on Electoral Reforms". The mandate of the Committee is to review the entire election-related regulatlons/directions/procedures/guidelines etc. as they exist today and are applicable not only to the elections to the Council and Regional Councils but also to the elections to the Managing Committees/Office-bearers of branches of Regional Councils and to recommend suitable changes In the system.

In keeping with the above objective, an extensive exercise had been carried out to identify the issues pertaining to the election-related regulations/directions, etc. The Issues so Identified were categorised (regulation-wise) and circulated, in the first Instance, among the Regional Councils and their branches for their views/suggestions/comments. Later, the same was also published In the January, 1999 Issue of the Institute's Journal for comments/suggestions/vlews of all concerned. The responses received thereon have been considered and certain In- principle decisions have been taken by the Committee. A Core-Group has been recently constituted to examine the matter relating to shortening the existing time span of existing schedule followed for the purpose of holding elections to the Council and Regional Councils and related matters.

The Committee for Review of Education and Training (CRET) submitted its final Report to the Council at its meeting held in January, 1998. Subsequently, the Council considered the Report at its 193rd, 194th & 195th meetings held In July,

August &. October, 1998 respectively, The basic scheme of overall pre-qualificatlon education and training decided by the Council, amongst other significant decisions, is as under:

• Minimum qualification for entry requirements should continue to be a pass in 10+2 examinations or Its equivalent.

• . Professional Education (PE) Course of about two years' duration should be Introduced, prior to commencement of Practical Training in two parts- Professional Education I (PE-I) and Professional Education II (PE-II), • Compulsory practical training in computers for a period equivalent to three months of about 200-300 hours prior to commencement of articles.

• Period of practical training should continue to be of three years. • Eligibility to appear in Final Examination during last six months of the training or thereafter.

• Attending a two weeks' course on "General Management and communication Skills" to be organised by Regional Councils and Branches thereof after the completion of practical training.

• Training guide should be effectively implemented. • Maximum period of secondment should be six months. • Criteria of "efflux of time" and "work-quantum' should be Integrated in a judicious manner for the purpose of determining entitlement to train articled clerks. Number of articled clerks based on "efflux of time" to be brought down. Modalities of Implementing "work quantum" to be worked out so as to move gradually towards work quantum criteria.

• Industrial Training should continue to be optional as per the present scheme. • Test paper scheme should be made applicable to students of PE Course and Final Course.

• Scheme of accredited institutions should be extended to the Final Course. Regional Monitoring Committee(s) to play an active role in reviewing the performance of accredited Institutions,

• Imparting theoretical education through audio-visual methods, television and tele-conferencing.

• Examination papers should be more practical-oriented. • Restriction on the number of attempts for PE-I and PE-II Examinations. • No restriction on maximum number of attempts in the Final Examination. • A compulsory full paper on Information Technology at PE-II level. • CPE Programmes should be made mandatory. To begin with, requirement of mandatory CPE should be applicable only for members in practice and such members who are above 65 years of age may be exempted.

• Post Qualification Courses should be re-designed. • Short-duration specialised courses may be organised.

Necessary steps are being taken to expedite the implementation of new scheme of education and training.

Draft amendments to the Chartered Accountants Regulations, 1988, to give effect to the above changes, are under consideration.

3356 THE GAZETTE OF INDIA, SEPTEMBER 25, 1999 (ASVINA 3, 1921) [PART III—SEC. 4

S.NO.

1            000382             I  S Bhatty
2            000396             P R Hariharan
3            000497             K V Srinivasan
4            000655             N Ramanujan
5.           000687             S Venkataraman
6            000967             K B Jorapur
7            001036             A Chatterji
8            001125             K C Bardalai
9            001153             N M Gidwanl
10           001155             R K Mukherjee
11           001238             A K Ghosh
12           001478             S S Mukhopadhyay
13           001612             A S Siikrishna
14           001663             SN  Gupta
15           001789             R S Phadke
16           001855             N K Gangopadhyaya
17           002037             V M Khandwala
18           002181             K A Arjunan
19           002216             NR Titina
20           002501             E D Katpitia
21           002546             K R Shah
22           002621             S S Khandekar
23           003139             M Venkatakrlshnan
24           003166             D  Banerjee
25           003284             S M Ghooi
26           003335             C Balasubramanian
27           003382             V V Nerurkar
28           003402             C D Doshl
29           003411             K Mitra
30           003471              RK Gupta
31           003682             C Thandavakrishna
32           004024             P Viswanadham
33           004034              M C Bhandari
34           004134             T  Naraslmhachariar
 35          004368              R S Mukherjee
36           004378             G C Paul
 37          004380              C Subbarao
 38          004400              S K Chatterjee
 39          004424              A K Padhl
 40          004477              S N Johri
 41          004512              M K R Sriharl
 42          004713              R L Wankawala
 43           005022             H K Aparanjl
 44          005124              S Subramanian
 45           005330             S S Ayyar

3358 THE GAZETTE OF INDIA, SEPTEMBER 25, 1999 (ASVINA 3, 1921) [PART III - SEC . 4

98           200564            P M Kumar
99           200904            Marlapati ShnIvasa Rao
100          203487            Ramesh Babu K G
101         204065             Sarvothama Shetty A
102         206345             Sai Venugopal Rao K

Western India Region 12,876

Southern India Region 5,903

Eastern India Region 6,511

Central India Region 9,889

Northern India Region 8,630

43,809

Inter

Final

Total

No. of students who were enrolled as on 1st April, 1998

33,780

1,70,596

Add: Enrolled during the year

1998-99

28,253 12,227

40,480

46,007

2,11,076

Less: No. of students who have passed Intermediate/Final Examination In the year (May 1998 & November 1998)

11,524 7,405

18,929

38,602

1,92,147

PART III—SEC. 4] THE GAZETTE OF INDIA, SEPTEMBER 25, 1999 (ASVINA 3, 1921) 3359

3360 THE GAZETTE OF INDIA, SEPTEMBER 25, 1999 (ASVINA 3, 1921) PART III—SEC. 4]

PART III—SEC. 4] THE GAZETTE OP INDIA, SEPTEMBER 25, 1999 (ASVINA 3, 1921 ) 3361

Particulars	8CH.		31-03-99		31-03-98
SOURCES OF FUNDS: Capital Reserves General & Other Reserves Earmarkad Funds TOTAL APPLICATION OF FUNDS: Fixed Assets: Gross Block Lest: Depreciation Nat Block Earmarked Fund Investments Other Investments Net Current Assets Deferred Revenue Expenditure (To the extent not written off) TOTAL	A B C D E E F		175306870 90565567 190934377		142870889 92475393 151193719
			456806814		386540001
		234817334 (78123123)	166694211 190934377 194733369 (87454098) 1898955	199756263 (59513318)	140242945 151193719 178577760 (83565783) 91360

			466806814		386540001

3362 THE GAZETTE OF INDIA. SEPTEMBER 25, 1999 (ASVINA 3, 1921) PART III -SEC. 4]

THE INSTITUTEOFCHARTEREDACCOUNTANTSOFINDIA

31.03.99

31.03.99 Rs.

A INCOME

a) Journal

Publications Income Seminar Income

Interest on Investments Computer Centres : Income Other Income

Journal & News Letters'

a) Journal

b) Students News Letter

Publications Distant Education Expenses Examination Expenses Seminar Expenses Salaries Printing & Stationery

Postage, Telegrams & Telephones Pent, Rates & Taxes

Repairs & Maintenance Travelling & Conveyance Overseas Relations Professional Fees

| Computer Centres Expenses

Depreciation Other Expenditure

TOTAL B

NET SURPLUS (A-B) Appropriation to Reserves :

Education Fund

General Reserve

11918423 3O610142

New Delhi

ASHOK HALDIA SECRETARY

Schedules 'A' to 'H' form an Inlegal part of Accounts:

As per our Report of even date attached

New Delhi Date: 21/8/99

R K BATRA

PRADEEP AGGARWAL CHARTERED ACCOUNTS

PART III - SEC . 4] THE GAZETTE OF INDIA, SEPTEMBER 25, 1999 (ASVINA 3, 1921) 3363


Particulars	GENERAL 31.03.99 31.03.98	OTHERS * 31.03.99 31.03.96
Balance as per last Account Appropriate from Income & Expenditure Account Net Depletion during the year Transfer to Capital Reserves - General Transfer to Earmarked Funds - Others Transfer to Other Reserves Transfer from General Reserve	75106647 85714811 2691817 11918423 (1391321) - ( 20000) (524062) (2298245) (2717919) (766 197) - 81999143 85714811	5877300 6760582 - (385254) (181302) - - 298387 (526823) 766197 2717919 8566424 6760582


	90565567 92475393

Note Other Reserves are Reserves (such as Library Reserves,Coaching Classes Reserves etc) in the books Regional Councils and Branches.

3364 THE GAZETTE OF INDIA, SEPTEMBER 25, 1999 (ASVINA 3, 1921) [PART III - SEC. 4

THE INSTITUTE OF CHARTERED ACCOUNTANTS OF INDIA , NEW DELHI

Particulars	31.03.99 31.03.98
1.Education Fund 2.Medals and Prizes Funds 3.Students Scholarships Funds Total (A) 1.Pension Fund 2.Leave Encashment Fund 3.Employees Benevolent Fund Total (B) 1.Research Funds 2.Accounting Research Foundation and Other Building Fund 3.Computerisation Fund 4.Golden Jubliee Celebration Fund 5.Other Funds Total (C) Grand Total	79122062 56224848 2907854 2313564 1489810 1251749 83519726 59790161

	35760643 29017152 10000000 1000000
	46760643 29017152
	24606882 20920633 16750093 19251104 8389278 11696596 2016118 3837000 8891637 6681073
	60654008 62386406
	151193719 190934377

(Contd )

THE INSTITUTE OF CHARTERED OF CHARTERED ACCOUNTANTS OF INDIA , NEW DELHI

SCHEDULE "C" - EARMARKED FUNDS (Contd. )

Particulars	Education Fund 31.03. 98 31.03.99	Medals & Prizes Funds 31.03.99 31.03 98	Students Scholarship Funds 31.03.99 31.03.98	TOTAL (A) 31.03.99 31.03.98
A B alance as per Last Account Adjustments Transfer from/to Other Reserves Income earned during the year Collections during the year Expenditure during the year Appropriation from Income & Expenditure Account Transfer to Capital Reserves - Education	56224848 56325102 7590354 6399216 27674336 17691719 {12367476) (34691189)	2313564 2001208 (11600) (80379) 5451 285808 266110 490861 205725 (147879) (107451)	1251749 1044355 (8180) 168986 152108 122000 130000 (66534) (52925)	59790161 69870665 ( 3 7 9 ) (19780) 5451 8045148 6817434 612861 335725 (160376) (214413) 27674336 17691719 (12367476) (34691139)
Total	79122062 56224848	2313564 2907854	1489810 1251749	59790161 83519726

Leave

31.03.98 31.03.99 31 03.98

31.03.98

Balance as per Last Account

22646129 4400000

Income earned during the year

3052693

Provisions during the year

5000000 5600000

Payments during the year

(1681675)

Appropriation from Income & Expenditure Account

Total

35760643 29017152 10000000

THE INSTITUTE OF CHARTERED OF CHARTERED ACCOUNTANTS OF INDIA , NEW DELHI

SCHEDULE " C" - EARMARKED FUNDS (Contd. )

Particulars	Research Funds 31.03.99 31 03 98	Accounting Research Foundation and Other Building Fund 31.03.99 31.03.98	Computerisation Fund 31.03.98 31.03.99	Golden Jubilee Celebration Fund 31.03.99 31.03.98	Other Funds 31 03.98 31.03.99	TOTAL(C) 31.03.99 31.03.98
C B alance as per Last Account Adjustments Transfer from / to General Reserve Transfer from / t o Other Reserves Income earned during the year Collections during the year Expenditure during the year Appropriation from Income & Expenditure Account Transfer to Capital Reserves - Education	20920633 14502228 S6617 521372 2738357 1895125 369903 4523280	19251104 20000000 i 2598939 2696000 400000 (5500000) (3444896)	11696596 19000000 1579040 2661200 (9864604) (4886358)	3837000 2500000 531762 337000 100000 (2452644) 1000000	5621844 62336406 6681073 61624072 (1566010) (151328) (1566010) (151328) 2298245 2241628 524062 524062 (298387) (298387) 521372 327370 7883669 435521 7816695 1532082 1104348 2401965 5627628 (2885301) (432657) (446836) (446836} 1000000 (10386358) (13309500)
Total	24606882 20920633	19251104 16750093	8389278 11696596	2016118 3837000	8891637 6681073 62388406 60654008

Rate ASSETS -	of D e p r e - ciation	GROSS BLOCK	DEPRECIATION NET B L O C K
		Adjus&ments/ Cost as at Cost as at Additions Transfers/ 1 4.1998 during 31.3.1999 the year Sale	Upto Upto W.D.V W D V Adjustments' 1.4.1998 During as on Transfers/ 31.3.1999 as on t he year Safe 31.3.1999 31 3.1998
1 Land - Free Hold 2. Land - Lease Hold 3. Land - (A.R F) - Lease Hold 4 Building W o r k in Progress 5. Buildings 6. Electric installations & Fittings 7. Air Conditionings 8. Furniture 4 Fixtures 9. Lifts to. Office Equipments 11.Vehicles 12.Library Books 13 Computers	- 5% 10% 15% 10% 10% 15% 20% 20% SLM 40%	6.310.181 1.270.855 7,581 036 969,399 963,399 28,344,836 23.444,896 5.500.000 8.159,047 (34195 78) 5,381,044 1641575 69.884.854 4 . 9 3 2 . 6 4 36418 74,853,538 10,711,687 9,225.922 1.588 824 (103059) 650.977 7,772,322 7,101.945 20.000 11.764 5,287,149 26.907,148 21,688 2 3 5 2,993,250 1.058.250 34,962 1.900,038 3.849,514 (295212) 16,180,453 12,626,151 55.921 16,300 1,813,112 1.730.891 12.477.114 (3332) 14.501,546 2.027.764 10.605.473 234.237 35,207,305 24.317.590	7,581,636 6.310.181 124 185 22.0S6 146,271 a45,214 823,128 582,797 260 499 322 298 25,362,099 23 184 397 6.381,044 3.159.047 16,924.479 2.867,285 19,791,764 55,061,772 52.960.375 (36546) 690,542 4,356,721 6,354,966 3,702.725 5 523 197 1,434,346 3.788 287 544,739 5550 4,338,576 3.313658 10,036,825 1705.670 (28768) 16,870,323 13.248 312 8.359 923 526.576 2,466,674 333 057 193.519 1 566,981 1 346,377 5,507 OCA (43971) 6,809,410 9,371,043 7.119.147 3254 757.979 204, 756 965,889 847,223 973.012 9,637 779 1 223,811 10,860,490 (1100) 3,641,056 2.839 335 41342 19,707,804 15,499,501 10.117 50 9.548,961 14 200 089
TOTAL		234,817,334 199 756,263 (2394212) • 37,455 283	18,670.044 59,513.318 (60239) 78,123,123 156,694,211 140.242.945
Previous Year	199,756, 263 162.048 .943 (258848) 37 966 168		8 972.817 140,242 945 4,200 59.513.318 50,536 301

Particulars	31-03-1999		31-03-1998
Units with Unit Trust of India: (1) Unit Scheme for Charitable & Religious Trust (i) Registered Societies (CRTS 81) Units 1964 Scheme (ii) Instituttonal Investors Special Fund Unit Scheme(IISFUS 96 & 98) (iii) Bonds with Public Sector Undertakings (II) (i) Indian Railway Friance Corporation Ltd [Redeemable non convertible bonds 2500 @ Rs 1000/ each] a) Industrial Finance Corporation of India Limited - IFCI Bonds-96 (X series) [Redeemable non-cumulative bonds 500 @ Rs. 10 000/ each] . IFCI Family Bonds [Redeemable bonds 500 @ Rs.5000/- each in the nature of Promissory Notes] iii) Industrial Development Bank of India - Bonds (III) Fixed Deposits with scheduled Banks Total Investments ALLOCATED TO: Earmarked Fund Investments Other Investments Total	44903270 1066781 47500000 2468531 5000000 2500000	93470051 9968531	44831160 1066781 20000000	65897941
			2461389 5000000 2500000 500000	10461389
		282229164		253412149
		385667746		329771479
		190934377 194733369		151193719 178577750
		385667746		329771479

PART III—SEC. 4] THE GAZETTE OF INDIA, SEPTEMBER 25, 1999 (ASVINA 3, 1921) 3369

Page No 9

Particulars		31.31999		31 .3. 1998
CURRENT ASSETS, LOANS & ADVANCES: (a) Stock of Publications, Study Materlals,Stationery etc. (Including Stock of Paper with Printers Rs 37,29 Lacs , Previous year Rs 19.50 Lacs ) Less: Provision for Obsolete Stock (b) Amounts Receivable: i) Interest Accrued on Investments II) Interest on Staff Housing &Vehicle Loans	14560929 (1858570) 27427857 4920251	12702359	10271414 (1906324) 16372198 3314370	8365090

4631377

24615425 iv) Other Receivables (Less. Rs 7 34 Lakhs

considered Doubtful & provided for)

9180165 I) Advances to Staff (Housing.Vehicle & Other Loans)

10384750

19564915

II) Advances & Prepayments

36271770

88817200

108327980 (a) Fees/Income Received in advance

38875858

(b) Creditors for Expenses

25179145

172382983 TOTAL CURRENT LIABILITIES & PROVISIONS

(83565783)

3370 THE GAZETTE OF INDIA, SEPTEMBER 25, 1999 (ASVINA 3, 1921) [PARTIII—SEC.4

SCHEDULE G Page No, 10

1. Pending receipt of the accounts from one branch, revenue grants of Rs,26,200/- paid to the branch during the year have been charged to revenue. The opening balances of its assets and liabilities have been Incorporated.

2, The accumulated balances in the following funds are considered adequate,

Balance as on Provision made

31.03,1999 in this year

Pension Fund Rs.357.67 Lacs Rs, 50 Lacs. Leave Encashment Fund Rs.100,00 Lacs Rs, 58 Lacs.

3, a) Estimated amount of capital commitment (net of advances) is Rs,67,65 Lacs (Previous year Rs. 23.43 Lacs).

b) Claims not acknowledged as debts Rs,36,66 Lacs

4. Income of Rs, 113,95 Lacs and Expenditure of Rs.31,82 Lacs relating to previous years is not Included in Prior period Income and Prior period Expenditure. However it -has been accounted as Income & Expenditure of Current Year,

5. The depreciation on Computers Is provided at 40% as against 20% In the earlier years This has resulted in the reduction of surplus of Rs.47,74 Lacs,

6. The Hardware is Y2K Compliant, Adequate steps have been taken to ensure Y2K Compliance for Software

7. Salary Includes perquisites & other allowances.

8. Professional Fees Includes Auditors' Fees of Rs,2.70 Lacs to the Statutory Auditors

6, Previous year figures have been regrouped and reclassified wherever considered necessary,

PART III—SEC. 4] THE GAZETTE OF INDIA, SEPTEMBER 25, 1999 (ASVINA 3, 1921) 3371

SCHEDULE H Page No 11 I Accounting Convention

The accounts are drawn up on historical cost, basis.

A) 1/3rd portion of the entrance fees from Associate Members is treated as Income.

B) Tuition Fees received from students are recognised upon registration as Income on the following basis

1) Pre-Training (Foundation/Course)

- 100 % of fees of the Students registered during the first quarter of the year; and - 50 % of fees of the Students registered thereafter, the balance being treated as Income in the following year.

2) Others

a) Fees received in lumpsum -

1/3rd of fees of the Students registered in the year of receipt and the balance of 2/3rd in the following two years on equated basis

b) Fees received in insalments -

i) First instalment - 50% of fees of the students registered in the year of receipt and the balance of 50% in the following two years on equated basis.

ii) Second instalment - 100% of fees received in the year of receipt.

C) Examination Fees

Examination Fees and direct expenses attributable to examination are recognised in the year in which the examinations are held

D) Income from Investments

i) Income on Investments, in units of Unit Trust of India is recognised as Income on the basis of entitlement to receive.

ii) Income on Interest bearing securities/ investments is accounted for on the basis of coupon/contractual rates.

iii) Interest on fixed deposits with banks is accounted for on accrual basis at the rates applicable to such deposits.

iv) Income from Investments is allocated to earmarked funds in the ratio of opening balances of the respective earmarked funds to total investments.

3372 THE GAZETTE OF INDIA, SEPTEMBER 25, 1999 (ASVINA 3, 1921) [PART III—SEC 4

Page No. 12

a) Leasehold lands are being amortised over the lease period b) Library books are depreciated on straight line method. c) Other Fixed Assets are depreciated on the written down value method. d) Depreciation on additions is provided on prorata basis

IV Investments

a) Investments intended to be held till the normal date of maturity are treated as long term Investments,and are valued at cost. Decline in value, other than temporary, is provided for

b) Other Investments are treated as short term Investments.

Stock of paper, publications, study material, stationery etc are valued at cost (on the basis of direct cost method).

Computerisation expenses towards Software Development charges including cost of Software purchased paid/payable to Computer consultants is treated as Deferred Revenue Expenditure to be written of equally over a period of five years.

a) In terms of a scheme entered-into with Life Insurance Corporation of India, the liability towards gratuity on death/retirement to eligible employees, (computed as per acturial valuation), is covered by premium/contribution by the Institute Such premium/contribution is charged to Income & Expenditure Account.

b) Provision for leave encashment of eligible employees is based on the assumption that the same is payable to such employees at the end of the accounting year.

a)      The  admission  fee  from  fellow  members  and  2/3rd  portion  of  the  entrance  fees
        from Associate  Members  are taken as Capital Reserve -  General
b)      50%  of  the  surplus  arising  out  of  students  related  activities  is  transferred  to
        Education Fund.
c)      Transfer to Capital  Reserve -  Education, from the following  Earmarked Funds:
        i)     From  Computerisation  Fund  100% of  the  cost  of  purchase  of  computers
               and  related  accessories  in  relation  to  Decentralised  offices  and  Head
               Office Computerisation  Project.
        ii)    From Accounting  Research  Foundation and Other  Building  Fund : 100% of
               the cost of Fixed Assets  relating to Accounting  Research Foundation,
        iii)    From  Education  Fund  - 50% of the cost  of additions  (net  of deductions)  of
               other Fixed Assets.

PART III—SEC. 4] THE GAZETTE OF INDIA, SEPTEMBER 25, 1999 (ASVINA 3, 1921) 3373

Page No 13

1998-99		1997-98
313 66 186 70 (235 97)	301.03 (303.27) (2 24) 362 72	306 10 89 73 (151.47)
264 39 (129 99) (19 78) (43 36) 35 I 86 (79 21) (42 88)		244 36 (55 99) 3 15 (14 27) 20547 271 19 153 70
(351 22) (558 96) (18 08) 235 97 146 27 242 75		(377 39) 983 49) (0 91) 151.47 176 86 140 85

	360.48

3374 THE GAZETTE OF INDIA, SEPTEMBER 25, 1999 (ASVINA 3, 1921) [PART III—SEC. 4

Ref.No.18-CWA/9/99

September 16, 1999

N O T I F I C A T I ON

In pursuance of Sub-Section 5 of Section 18 of the Cost and Works Accountants Act, 1959, the Annual Report of the Council of the Institute of Cost and Works Accountants of India and the Audited Accounts of the said Institute for the year ended 31st March, 1999 are hereby published for general information.

(Udayan Ray) Secretary /

PART I I I - S E C. 4] THE GAZETTE OF INDIA, SEPTEMBER 25, 1999 (ASVINA 3, 1921) 8375

3376 THE GAZETTE OF INDIA, SEPTEMBER 25, 1999 (ASVINA 3, 1921) [PART III—SEC. 4

REGISTERED STUDENTS

During the current year 22372 students registered themselves with the Institute. In the previous year the number was 21754. The number of registered students at the end of the year stood at 1,85,340. The regionwise breakup of the students registered during the years 1997-98 and 1998-99 is produced below :

EASTERN                     4018        3963
NORTHERN                    3342        3404
SOUTHERN                    7466        7640
WESTERN                     4248        4678
                           19074        19685
DENOVO  ETC                 2680         2687

21754

22372

COACHING

During the year 36883 number of students enrolled themselves for coaching. The regionwise break- up is produced below:

ORAL

POSTAL

TOTAL

COURSE REGION 1997-98 1998-99 1997-98 1998-99 1997-98 1998-99

INTER EASTERN 2572 2347 NORTHERN 3278 3428 SOUTHERN 5738 6318 WESTERN 2421 2525

3750 3654 1901 1978 6348 6714 4124 4579

6322 6001 5179 5406 12086 13032 6545 7104

SUB TOTAL 14009 14618 16123 16925 30132 31543

FINAL: EASTERN 658 497 NORTHERN 800 1513 SOUTHERN 1215 1291 WESTERN 393 447

541 408 247 99 734 £83 604 502

1229 905 1048 1612 1840 1874 1149 949

SUB TOTAL 3066 3748 2126 1592 5192 5340

18249 18517

GRAND TOTAL 17075 18366

35324 36883

Facility for Postal Coaching in the form of supply of Study Notes. Test Papers and Suggested An- swers through Regional Councils continues to be provided to the students during the year, Publica- tion of Suggested Answers to the questions set at Institute's examinations (Inter and Final) Is con- tinuously meeting the demands of students undergoing Postal and Oral Coaching,

Besides Postal Coaching, the Institute is providing Oral Coaching to the students through 109 Cen- tres spread all over the country and 1 overseas Coaching Centre In Dubai. During the year the following centres/chapters have been given recognition for Imparting oral tuition In Intermediate/

PART III-—SEC.4] THE GAZETTE OF INDIA, SEPTEMBER 25. 1999 (ASVINA 3,1921) 3377

Final Courses as mentioned below :

1. Jhansi Chapter — Intermediate 2. Career Research Centre, Jabalpur — Final

The Institute Is having a Practical Training Scheme to help the students acquire experience in indus- try, service and other sectors of the economy.

Keeping In view of the changing need of the economy In a new environment, the Training Scheme has been revised and sent to the captains of the Industry, Service and other sectors of the economy.

It is heartening to note that organisations of repute like Transport Corporation of Indie, National Thermal Power Corporation, Indian Oil Corporation, Food Corporation of India, ITC, NALCO, Motorola are engaging Cost Trainees in their organisations.

During the year many organisations like Oil and Natural Gas Commission, Indian Telephone Indus- tries, Indian Petro Chemicals Ltd., Larson and Toubro Ltd, recruited the rank holders of ICWAI examinations in their organisations through Campus Interview/Walk-in-lntervlew.

The Study Notes are being continuously updated and improved keeping in view the needs and expectation of the society In the present economic scenario. During the year, Tax Updates for Direct Taxation and Indirect Taxation relating to the year 1999-2000 and supplements of Corporate Laws & Secretarial Practice Incorporating the changes in the statutes have been published and distributed to the students. Supplements have also been published in the Student Edition of the Institute's Journal, The Management Accountant for wider circulation.

As a part of the personality development programme of the New Coaching Scheme, symposium and group discussions were introduced in respect of the students enrolled under final course with effect from 1st January 1997.

Revision of Syllabus

The process of finalising the New Syllabus of the Institute was Initiated during the year. A Notifica- tion in this regard was published in the December 1998 issue of the Journal, The Management Accountant, inviting observations/opinion of the members of the Institute. In the New Syllabus it Is proposed to have a particular focus on the expertise needed in a changing economic environment emphasizing the area of Information Technology and such concepts and techniques as Total Cost Management. The Council is actively considering the matter.

The number of Indian Universities, recognising the membership of ICWAI for the purpose of doing Ph.D In commerce and allied disciplines went up to 34 with the addition of Sambalpur University and University of Kashmir.

Earlier, The Chartered Institute of Management Accountants (CIMA), UK awarded exemptions In seven papers of their syllabus to final passed candidates of ICWAI under the existing syllabus with

3378 THE GAZETTE OF INDIA, SEPTEMBER 25, 1999 (ASVINA 3, 1921) [PART III—SEC. 4

PART III—SEC. 4] THE GAZETTE OF INDIA, SEPTEMBER 25, 1999 (ASVINA 3, 1921) 3379

Members' Facilities & Services

Providing proper facilities and services to the members is one of the important activities of the Institute. With this objective in view, the Members' Facilities and Services Committee took the fol- lowing steps during the year.

1. Computerisation of the Membership records was undertaken. Accordingly, a computerised package has been Installed containing, inter alia, the members' data relating to the address, status of payment, etc. The package Is expected to facilitate the record keeping and prompt response to the members.

2. As a. drive to Increase the number of member, both Graduates and Associates, letters were Issued requesting the final qualified candidates from June 1997 term onwards, to get themselves enrolled in any of the above two categories.

3. To enlarge the membership of the Members' Benevolent Fund, an appeal was made through The Management Accountant to all members to become members of the Fund. Good response was received this regard.

4. Amendments to the guidelines for admission as Fellow Member of the Institute, keeping in view the suggestions of the members and problem faced by them were recommended by the Committee and approved by the Council.

5. It was decided to prepare a manual containing the information relating to the services being rendered to the members for circulation to the Regional Councils and Chapters to keep them aware of different rules and procedures for application at the appropriate moment.

6. To facilitate payment of annual subscription fee by the members, a bill-cum-statement was circulated to the members. On the basis of the payment/information received from the members, the records are being updated.

7. With the objective of creating a data-bank of the members containing relevant information to be furnished by the members, a Profile Form in computerised format has been circulated to all the members. The response received so far is encouraging.

During the year, the Committee met thrice.

Activities of the Regional Councils and Chapters Coordination Committee

The Regional Councils and Chapters of the Institute are the major wings through which services are rendered to the students and the members of the Institute. To strengthen these areas, the Commit- tee gave Its major thrust on development of these wings. For this purpose, the performance of all the Chapters was reviewed through respective regions and on the basis of the evaluation reports re- ceived, the following chapters were regarded as the Best Chapter on regional basis to provide encouragement among the chapters.

3380 THE GAZETTE OF INDIA, SEPTEMBER 25, 1999 (ASVINA 3, 1921) [PART III—SEC. 4

Surat-South Gujarat Chapter of Cost Accountants

Kalyan-Ambernath Chapter of Cost Accountants

Bilaspur Chapter of Cost Accountants

EIRC

Cuttack-Bhubaneswar Chapter of Cost Accountants

Serampore Chapter of Cost Accountants

Nalhati-lchapur Chapter of Cost Accountants

Lucknow Chapter of Cost Accountants

Chandigarh Chapter of Cost Accountants

Faridabad Chapter of Cost Accountants

SIRC

Bangalore Chapter of Cost Accountants

Trivandrum Chapter of Cost Accountants

Godavari Chapter of Cost Accountants

In recognition of their considerable performance during the year 1998, the Chapters under "A" cat- egory were honoured with Silver Plaques and all the chapters with "Scroll of Honour" during the valedictory session of the 41st National Cost Convention held at Chennai.

During the 41 st National Cost Convention at Chennai, a Chapter Meet was organised to discuss the matters relating to service to students and members and allied policy decisions. Another Meet of the Chairmen and Secretaries of the Regional Councils along with the Council Members and senior officers of the Institute was organised in which various matters relating to professional development were discussed.

During the year under report, two new chapters have been opened, Jhansi Chapter of Cost Accoun- tants under NIRC and Kutch-Gandhidham Chapter of Cost Accountants under WIRC, to render better services to the students and the members of the respective areas.

The Committee also reviewed the general functioning of all the chapters and the activities under- taken by them during the year.

The journal publication and research activities of the Institute registered a steady improvement during the year.

PART III—SEC. 4] THE GAZETTE OF INDIA, SEPTEMBER 25, 1999 (ASVINA 3, 1921) 3381

Realising the Importance of strengthening the student base and equip them suitably for entering to the profession, a student edition of The Management Accountant was introduced. The student edition was adjudged beneficial to them and much appreciated by the student community. A long felt need was fulfilled at last.

During the year there were 2 special issues of the journal The Management Accountant one on Power Sector and another on Information Technology which were appreciated by the members and readers of the Journal.

The research activities of the Institute were also noteworthy. The Research Bulletin Vol. XV was published with special feature on "Infrastructure". There were altogether three volumes namely, Vol. XV, Vol. XVI and Vol. XVII published during this period. The Research Bulletin is now a regular six monthly publication of the Institute.

Last year's research publication "Modvat Audit: A Practice Manual" was accepted well by the practising members and other users. All the books were sold out and the committee brought out the second, revised and enlarged edition of the book duly revised by the earlier member-author Sri A. B. Nawal.

The concept of Economic Value Added (EVA) propagated by Stern Stewart Co. of USA as a busi- ness performance measure is fast gaining acceptance in Indian corporate world. The absence of suitable study of the performance of Indian Industry In EVA context prompted the committee to fill this gap. The committee sponsored a research project titled "Economic Value Added A Tool For Business Planning" by one of our eminent member Dr. T. P. Ghosh. The research was published under the same title. This publication is expected to generate wide response from business plan- ners, management accountants and corporate entitles.

In order to pave the way for development of cost and management technology, the committee sponsored a project on "Target Costing". The study Is completed and would be published soon.

The other Important projects like "Formulation of Farm Accounting Guidelines in Rubber Industry" is already completed. "Cost based pricing for water supply from public utilities" was initiated during the year and is expected to be completed soon.

There were two committee meetings during the year.

During the year the Committee met twice and deliberated on important issues relating to Professional Development activities. One of the important focused activity of the Committee during the year was preparing a Draft Revision of Cost Accounting Records Rules under Section 209(1 )-(d) of the Compa- nies Act, T956 for submission to the Government. The Committee took up the responsibility of com- menting on seven revised Rules that were drafted by the Cost Audit Branch, Government of India. Through a process of coordinating the expertise available among members from different regions, un- der the direction of the members of the Committee, the Committee took up the drafting of the revision of Cost Accounting Records Rules so as to facilitate the Government in issuing revised Rules for Products/ Industries, keeping In view the changes that had taken place since the Introduction of the Records Rules for the concerned product/Industry. The Technical Directorate took the task of revising 19 notified Rules with the help of Practicing Cost Accountants who had done Cost Audit in these products. The Commit- tee has already received draft revision of seven products namely, (0 Battery, (II) Bulk Drugs, (iii) Engi- neering-Power Driven Diesel Engine, (iv) Formulations, (v) Jute Goods, (vl) Paper, (vii) Textiles. Drafting the revision of other Rules is in the process.

3382 THE GAZETTE OF INDIA, SEPTEMBER 25, 1999 (ASVINA 3, 1921) [PART III—SEC. 4

The Committee also focussed on bringing out technical publications, like in the past year. Following books were published during the year:

1, Basics of Foreign Exchange for Management Accountants 2. Service Tax and Cost Accountants 3. Cost Audit in Cycle Industry (Revised Edition) 4, Cost Audit In Sugar Industry, (Revised Edition) 5. Cost Audit in Industrial Alcohol Industry (Revised Edition) 6. Cost Audit in Motor Vehicles industry (Revised Edition). In addition to above, a monograph "Source Book for Tax Audit" was also published. The committee is extremely thankful to Shrl S. Rajaratnam, a noted Tax Management consultant and Government Nominee to the Central Council of our Institute and Shri Raghavendra Rao, a member of our profession and retired Chairman of Income Tax Settlement Commission for their invaluable contribution towards the publication of this book.

Few more publications which are in process are :

1. Cost Structure in Power Sector 2. Bench Marking 3. Valuation of Brand Equity 4. Costing in Hotel Industry.

The Committee rightly appreciated the need of disseminating new techniques of Cost Management and with this perspective, it organised two National Workshops on 'Total Cost Management¹ at Calcutta and Delhi during March, 1999.

With the adoption of disciplines on Accountancy Sector by the WTO Council, the subject of internationalising the Accounting Profession and its implications to the cost accounting profession in the country gained significance. The Committee deliberated on the final draft that was approved by the WTO Council and also decided to take proactive action in this direction. A proposal was made to the Government for inclusion of Accountancy Services under the Export-Import Policy. A new Chapter was added by the Government of India in the Export - Import Policy announced on April 1st, 1999, by including export of services in the policy and Accountancy Service is one of the services now reckoned under the Export-Import Policy.

The Committee deliberated the constitution of an Expert Advisory Group to answer/clarify technical queries coming from individuals and organisations including Government Agencies. The functioning of this Expert Advisory Group should be taken up immediately by the Committee in the next year.

The Committee also took cognisance of the developments in the Information Technology Sector that has specific relevance to Cost and Management Accountancy Profession and decided to con- duct educational programmes for members in ERP, Steps were also considered for opening a Website of the Institute.

Activities of the Committee on the Financial Institutions, Insurance and Services Sectors

The Banking, Insurance and Finance sectors in India, opened up new scope for the Cost and Management Accountants.

The Committee constantly explored the areas where our professionals can render useful services,. During the year great efforts were made for widening the scope of our profession beyond the tradi- tional manufacturing sector. There was improvement of the relationship of the Institute with the RBI, Ministry of Finance, SEBI, Indian Banks Association, Banks, Financial Institutions and other related bodies.

During the year there were several meetings with prominent personalities in the Banking and Fi- nance sectors In the country. There was a meeting with the Hon'ble Finance Minister of India, Shri Yashwant Sinha where our emphasis was given towards a simpler and rational tax regime and on issues relating to the profession.

In a meeting the Governor of the Reserve Bank of India, Dr. Bimal dalan, we deliberated on the matters relating to the representation of our members in the various committees formed by RBI,

PART III—SEC. 4] THE GAZETTE OF INDIA, SEPTEMBER 25, 1999 (ASVINA 3, 1921) 8383

3384 THE GAZETTE OF INDIA, SEPTEMBER 25, 1999 (ASVINA 3, 1921) [PART III—SEC. 4

Service Personnel, Exclusive Programmes on Cost Management to Indian Navy.

The Committee organised joint programmes as sponsored by the Department of Personnel and Training, Government of India and also organised joint programmes with the Department of Public Enterprises, Government of India.

The Committee organised an exclusive International Programme on 'Strategic Financial Manage- ment' at Singapore and Bangkok, which was well received by many Public Sector Enterprises in India. The faculty were drawn from abroad for the technical sessions apart from the faculty from India, The programme was well appreciated by the participants and the Committee is planning to organise similar programmes In near future.

The Committee also organised two International Programmes at Kathmandu, Nepal one on 'Corporate Finance' and the other on Managerial Effectiveness', these "were attended by many Senior level Execu- tives of the Public Sector Enterprises, Banks & Insurance Companies and Government Departments. During the year the Committee organised a National Seminar on 'Power Sector Restructuring Including privatisation of Distribution', which was inaugurated by the Secretary, Department of Power, Govern- ment of India. The Technical Sessions of the Seminar were very much appreciated by the participants of the Seminar coming from Private and Public Sector Enterprises from all over the country.

The Committee organised an exclusive Low Cost programme on 'Win that Job' for the young mem- bers of the Institute during the year.

The programmes organised by the CEP Committee were well attended and very much appreciated by all the organisations as well as by the participants. Many organisations In the Public Sector are keen to organise many programmes in the area of Financial Management, Project Management etc. The Committee organised many programmes for the officials of the Indian Customs and Excise Department during the year through-out the country.

Activities of the Public Sector Coordination Committee

The Public Sector Coordination Committee was formed to widen the scope of Cost Accountants in the public sector. A special focus was given on the role of practising Cost Accountants in public sector organisations.

PART III- SEC. 4] THE GAZETTE OF INDIA. SEPTEMBER 25, 1999 (ASVINA 3, I921) 3385

Dated : 21st July,1999UdayanRay Secreatary

PART III - SEC .4] THE GAZETTE OF INDIA, SEPTEMBER 25, 1999 (ASVINA 3, 1921) 3387

This year

Last year

1998-99

1997-98

Particulars

Schedule

Rs. RS.

Rs.

No.

INSTITUTE FUNDS :

62,876,158 66,873,762 General Fund

(1)

•

9,469,29M 7,025,349 Employees' Gratuity Fund

(2)

2,12,971 Employees' Benevolent Fund

2,42,325.

(3)

74,112,082

72,587,777

30,466,314 a) Gross Block

30,658,934

(4)

14,649,777 b) Less Depreciation

16,248,43,

15,816,537 c) Net Block

14,410,497

9,39,628 Add: Capital Work in Progress

1,588,537 15,939.034

30,630,574 Investments

26,915,574

13,005,804 Current Assets

14,555,075

(6)

20,366,653 Loans & Advances

22,309,352

(7)

33,372,457

36,864,427

6,959,489 Less: Current Liabilities & Provisions

7,780,092

(8)

26,412,968 Net Current Assets

29,084,335

3,12,375 Miscellaneous Expenditure

588,834

(to the extent not written off)

74,112,082

72,587,777

Notes on Accounts

(18)

Schedules referred to above form part of Accounts

As  per  our  report  attached.                                Kunal  Banerjee         R.  J.  Goel
For  Gupta  &  Co.                                             Vice  President         President
Chartered  Accountants
S.  K.  Ganguli                                                R.  N.  Pal             Udayan  Ray
Partner                                                        Director  (F & A        Secretary

Calcutta

Dated 21st June, 1999

3388 THE GAZETTE OF INDIA, SEPTEMBER 25, 1999 (ASV1NA 3, 1921) [PART III—SEC. 4

No.

INCOME :

5,884,721 By Annual Subscription

5,339,957

25,951,050

Examination Fees

24,563,313

0) (10)

Tuition Fees

25,548,763

26,504,397

Interest

3,584,023

3,418,059

611,082

Journal Fee (Incl. Advt.)

699,608

3,241,794

Professional Development Prog

5,087,212

4,582,155

Publication

4,732,202

69,403,588

70,344,748

24,319,445 To Establishment

31,207,195

9,558,909

Office Expenses

9,708,386

568,833

35,000

Statutory Audit Fee

35,000

45.000

Internal Audit Fee

50,000

772,598

Travelling & Conveyance

567,147

156,188

Election Expenses

588,832

3,712,976

Cont. to Regional Councils

3,829,913

8,394.358

Examination Charges

9,241,432

405,836

Professional Development Exp.

416,023

3.067,665

Council & Commt. Meeting Exp.

3,262,405

4,422,715

Journal Expenses

2,848,719

200,000

Chapters' Grant

83,500

700.787

Membership Subs, (Foreign Bodies)

871,148

1.242,716

Conference & Meeting International

510,927

2,580,773

Professional Development Programme

3,955.294

3,459,384

Study Materials Consumed

3,303,758

1,857,235

Publication Stock Consumed

1,491.071

1,852,316

Depreciation

1,598,660

67,352,734

73,569,410

2,050,854

Surplus/Deficit for the period

(3,224,662)

69,403,588

70,344,748

2,050.954

Surplus/Deficit for the year B/F

(3,224,662)

4 892.859

Less ; Prior Period Expenses

3.003,395

Transferred to General Fund

(6,228,057)

Notes on Accounts

As per our report attached

For Gupta & Co.

                                                                                      R. J. Goel
Chartered Accountants                            Vice-President                       President
S. K  Ganguli                                    R  N Pal                             Udayan Ray
Partner

Secretary

Dated 21st June, 1999

PART III—SEC. 4] THE GAZETTE OF INDIA, SEPTEMBER 25, 1999 (ASVINA 3, 1921) 3389

SCHEDULE NO. 1

GENERAL FUND as at 31st March 1999

66,873,762 Balance as per last account

67,219,738

Add:

30,207

i) Transfer from Non-specific Deposits

40,794

etc. as per prevalent decision of

Executive Committee

37,855

ii) Cancellation of cheques issued in the

29,622

previous year

iii) Unlinked transactions in Bank Account

131.276

186,516

118,454

iv) Others

30,531

67,060,278 67,451,961

Less:

20,744

7,557

28,301 II) Others

57,540

67,031,977 67,394,421

376,500

Add Entrance Fee (Member)

429,100

2,147,424

1,770,924

Entrance Fee (Student)

1,775,752

69,179,401 69,599,273

Less Capital Grants to Regional Councils:

75,000

83,506

For Library Books

84,000

For Furniture

9,000

69,095,401 69,515,767

Add : Surplus for the year:

(6,228,057)

(2,642,005)

8,814

62,876,158 66,873,762

3390 THE GAZETTE OF INDIA. SEPTEMBER 25, 1999 (ASVINA 3, I921) [PART III—SEC. 4

Last year

1997-98

4,657,828 Balance as per last account

7,025,349

2,739.475 Add : Contribution for the period

2,786,491

Add : Interest earned on Investment on

662,253

Fund for the period

713,590

8,059,556

10,525,430

1,034,207 Less: Gratuity paid to Employees

1,056,136

during the period

7,025,349 TOTAL

9,469,294

SCHEDULE NO. 3

EMPLOYEES' BENEVOLENT FUND as at 31st March 1999

1.87,670 Balance as per last account

212,971

Add : Contribution during the period •

7,800

3,900

11,376

24,238 Add Interest earned on Investment

21,932

of Fund for the period

223,608

246,279

10,637 Less : Paid to Employees during

the period

3,954

212,971 [

242,325

PART III—SEC, 4] THE GAZETTE OF INDIA, SEPTEMBER 25, 1999 (ASVINA 3, 1921) 3291

Depreciation

Addition

during the

Description of Assets Opening

Total as

Upto For the

Upto This year Last year

year on 31.03.99

Cost as

31.03.99

1.4 98 year

at 1.4.98

(Rs.)

(Rs.) (Rs.)

(Us.)

FREEHOLD LAND & BUILDINGS;

629,348 Headquarters

358,638

987,986

24,293

987,986

382,931

Regional Councils & Chapters 17,590,508

17,590,608

7,973,565

10,399,809

9,613,943

LEASEHOLD LAND;

—

Regional Councils & chapters 18,220

18,220

18,220 18.220

Headquarters

2,486,866 164,900

1,434,568 121,720 1,558,288 1,095,478 1.052,298

2,651,766

LIBRARY BOOKS;

Headquarters

848,011

224,618 43,561 268,179

12,220

392,052

660,231

423,393

OFFICE EQUIPMENTS:

3,125.142 3,125,142 1,403,004 172,213 1,675,217 1,549,925 1,722,138

GENERATORS;

280,545

Headquarters

—

244,519 9,006 253,525

280.545

27,020 36,026

MOTORCARS.

Headquarters

261,332

220,277

231,332

8,211 228,488 32,844 41,055

COMPUTER:

5,067,704

Headquarters

5,083.204

15,600

3,763,827

3,324,037 438,790

1,319,377 1,743,667

192,620

30,658,934

30,466,314]

1,598,660 16,248.437 14,110,497 15,816,537

Capital Work in Progress

1,588,537 939,628

3392 THE GAZETTE OF INDIA, SEPTEMBER 25, 1999 (ASVINA 3, I921) [PART III—SEC. 4

SCHEDULE NO, 5 INVESTMENTS as at 31 St March 1999

500

SCHEDULE NO. 6 CURRENT ASSETS as at 31 at March 1999

(Rs) Particulars

6,628.358

691,066

Accrued Interest on Loan to Chapters for construction of Buildings etc. Sundry Debters

675.330 248,196

13,005,804

PART III-SEC. 4] THE GAZETTE OF INDIA, SEPTEMBER 25, 1999 (ASVlNA 3, 1921) 3393

SCHEDULE NO. 7 LOANS AND ADVANCES as at 31st March 1990

This year

1998-99

(RS.)

Building Loan to Chapters (A)

2,825,329

3,035,089

208,267

755.826

Computer Loan to Chapters (B)

801,476

13,292,000

Advance to Regional Councils & (C)

12,742,000

Chapters for construction of Buildings

100,000

Loan to Regional Council (N.I.R.C.)

2,000

Other Advances

229,468

1,298.672

Building Advance to Employees

961,490

62,620

Vehicle Purchase Advance to Employees

71,680

29,000

Advance to Election Booths

96,400

163,380

Festival Advance to Employees

116,717

928,272

Advance for Fixed Assets

394,249

Advance for Paper

121,704

Advance to Employees' P,F, on account of

121,704

Arrear Subscription (Recoverable)

157,677

Advance Membership Subscription to

127,400

Foreign Bodies (IFAC)

1,732,138

Silver Jubilee Capital Grants (Adv.) to Chapt.

1,732,138

150,872

Prepaid Expenses

167,505

85,853

Deposit with Telephone, Electric etc.

165,079

22,309,352

20,366,653

32 - 259GI/99

3 3 94 THE

INDIA : S E P T E M B ER 2 5. 1 9 99 ( A S V I NA 3. 1 9 2 1) [ P A RT I I I — S E C. 4

- • 100,000 - -

— — —

— — — — —

—

— — _

—

— — — — —

— — _ — — —

— -

—

01, 02, 03, 04, 05, 06 07, 08. 09 10, 11, 12, 13, 14. 15. 16. 17. 16, 19. 20. 21. 22. S3, 24. 25 26.

—

PART I I I - S EC 4] THE GAZETTE OF INDIA, SEPTEMBER 25, 1999 (ASV1NA 3, 1921.) 3395

SCHEDULE NO. 7(B) COMPUTER LOAN TO CHAPTERS as at 31st March 1999

                                                                 This  year       Last year
SI. No.    Name of the Chapter                                    1998-99          1997-98
   1.      Ahmedabad                                                64,150           64,150
   2.      Howrah                                                   64,150           64,150
   3.      Goa                                                      64,150           64,150
   4.       Jaipur                                                  58,804           58,804
   5.       Udaipur                                                 64,150           64,150
   6.       Visakhapatnam                                            62,368          62,368
   7.       Cochin                                                   62,727          64,150
   8.       Pune                                                        —            38,804
   9.       Asansol                                                  64,150          64,150
  10.       Durgapur                                                 64,150          64,150
  11.       Cuttack-Bhubaneswar                                      62.150          64,150
  12.       Neyveli                                                  62,727          64,150
  13        Trivandrum                                               62,150          64,150
                                                                    755,826       801,476
 Realisation of Computer  Loan  during  1998-99 :
            Cochin                                                    1,423
            Pune                                                     38,804
            Neyveli                                                   1,123
            Trivandrum                                                2.000
            Cuttack-Bhubaneswar                                       2,000
            Total                                                    45,650
    SCHEDULE NO, 7(C)
    ADVANCE TO REGIONAL COUNCILS & CHAPTERS
    FOR CONSTRUCTION OF BUILDINGS  as at 31st  March  1999
    1.      N.I.R.C.                                               3,892,000       3,692,000
   2        W.I.R.C                                                2,700,000       2,700,000
   3.       Coimbatore                                              300,000          300,000
   4.       Bhilai                                                  300,000          300,000
   5.       Cochin                                                  300,000          300,000
   6.       Pune                                                    200,000          200,000
    7.      Udaipur                                                 300,000          300,000
    8.      Lucknow                                                 300,000          300,000
    9.      Visakhapatnam                                           300,000          300,000
   10       Nagpur                                                  300.000          300,000
   11.      Nasik-Ojhar                                             200,000          200,000
   12.      Bhopal                                                  300,000          300,000
   13.      Bangalore                                               300,000          300,000
   14.      Jaipur                                                   150,000         150,000
   15.       Durganur                                                300,000         300,000
   16.       Bokaro                                                 300.000          300,000
   17.       Kolhapur-Sangli                                         200,000         200,000
   18.       Asansol                                                 300,000         300,00C
   19        Kanpur                                                  200,000         100,000
   20.       Hyderabad                                               300,000         300,000
   21.       Ranipet                                                 300,000         300,000
             Baroda                                                  200,000         200,000
             Dhanbad                                                 300,000         300/000
   24        Mysore                                                  300,000         300,000
   25        Serampore                                               300,000         150,000
   26,       Trissur                                                 300,000         150,000
   27        Kota                                                    150,000

12,742,000

13,292,000

3396 THE GAZETTE OF INDIA, SEPTEMBER 25, 1999 (ASV1NA 3, I92I) [PART III—SEC.4

SCHEDULE NO, 8 CURRENT LIABILITIES AND PROVISIONS as at 31st March 1999

Library Deposit

455,881

464,756 66,314 Non-specific Deposit (Refundable)

129,716

82,000 Caution Money Deposit from Oral

92,000

Coaching Institutions (Refundable)

Interest on Prize Fund

84,156

77,593 — Smt, Kamala Mukherjee Memorial Prize Fund

10,000

3,000

4,572,425

L. D, K, Memorial Prize fund Sundry Creditors

5,9.12,399

Other Liabilities

1,144,154 52,000 Outstanding Membership Fee to Foreign Bodies

497,247 Provisions

512,550 64,543 518,847

6,959,489

7,780,092

Provisions :

Grants to Employees' Co-op. Cr. Soc. Ltd.

30,000 —

60,000

140,000 Golden Jubilee Contribution to Regional Councils & Chapters (As per last account)

140,000

Bad & Doubtful Debts:

27,247 — Less Utilised during the year

- 8,400

18,847

150,000 150,000

Rates & Taxes (As per last account) Cont to IFAC (As per last account)

150,000 150.000

497.247

518,847

PART III—SEC. 4] THE GAZETTE OF INDIA, SEPTEMBER 25, 1999 (ASVINA 3, 1921) 3397

2,107,501

2,672,870

2,656,386

2,663,628

195,090

186,050

368,650

332,225

11,380

7,833

—

21,900

550

100

115

400 5,884,721

SCHEDULE NO. 1 0:

INCOME : EXAMINATION AND OTHER FEES for the year ended 31st March 1999

23,427,813

25,063,394

154,770

191,534

884,038

586,874

96,692

109,248

24,563,313 25,951,050

SCHEDULE NO. 11 :

INCOME : TUITION AND OTHER FEES for the year ended 31st March 1999

16,499,420

16,053,377

3,200

400

60,000

51,600

4,321,605

4,390,356

3,903,903

3,843,778

26,868

25,681

1,689,401

1,183,571

26,504,397 25,548,763

3398 THE GAZETTE OF INDIA, SEPTEMBER 25, 1999 (ASVINA 3, 1921) [PART III—SEC. 4

S C H E D U LE N O. 1 2.

Last year

19,230,527

To Salaries & Allowances

25,091,952 " Employers' Cont to Employees'

1,622,785

2,213,765 1,203,086

2,097,111

7,584 691,344 7,800 847,185 100,000

201,000 762,912 " Employers' Cont to Empl. E.D.L.I,

29,603 421 1,128,978 30,791 419 11.088

" Administrative Charges to R.P.F.C.

24,435 136,786

87,068

31,207,195

SCHEDULE NO. 1 3:

for the year ended 31st March 1999

1,841,063                    To Printing & Stationery                                           2,011,348
3,447,430                    "   Postage, Telegrams, Telephones,                                3,700,321

750,363                   "   Electricity Charges                                           762,185
 25,510                   "   Generator Expenses                                              2,777
 73,151                   "   Rates & Taxes                                                  38,508
 61,541                       Insurance                                                      61,584
577.151                   "   Repair & Maintenance                                          698,269
364,096                   "   Car Expenses                                                  274,680
  6,800

7,678

" Interest on Over Draft

229,716 409,159

                                                                                          387,751
146,502                   "  Books & Periodicals                                          118,914
202,699                   "  Legal Charges                                                181,279
 77,638                   "  Bank Charges                                                  87,347
321,484                   "  Computer Expenses                                            344,692
514,925

72,458 28,379

                                                                                              33,465
201,114                    "  Staff Welfare                                                  139,934
 37,000                    "  Delegate Fee                                                    65,500
136,890                    "  Gazette Notification                                           265,905
336,009                    "  Sundry Expenses                                                224,075

9,558,909

9,708,336

PART III—SEC. 4] THE GAZETTE OF INDIA, SEPTEMBER 25, 1999 (ASVINA 3, 192I) 3399

This year

N.I.R.C.

(RS.)

8,654

904

49,021

37,881

1,582

1. Postage & Telegrams charges

54,143

for decentralisation

260,578

260,578 2. Establishment Expenses

357,972

for decentralisation

32,400 25,174

3. Repair & Maintenance

1,618

40,145

59,190

—

6,000 -

4, Rates & Taxes

6,000 31,315

8,654

300,075

38,982 26,078

374,789 483.575

Total (A)

86,000 36,000

86,000

294,000 1. T.A. & Running Expenses etc,

311,671

100,000 2, Golden Jubliee Grant for

India's Independence

3, Revenue Grants

1,197,855

656.385

573,120 914,445 3,341,805 3,301,305

157,579

4. Others

30,079

6,450

194,108

899,964 1,233,855

Total (B)

689,199 10,06,895 3,829,913 3.712.976

4,204,702

10,32,973

12,00,039

3400 THE GAZETTE OF INDIA, SEPTEMBER 25,1999 (ASVINA 3,1921) [PART III - SEC .4

8.394,358         Examination Charges                                    9,210,103
                  Prize & Prize Distribution Expenses                       31,329
8,394,358                                                                 9,241,432

2,347,741

Council & Committee Meeting Expenses

2,730,826

719,924

Travelling Allowance to Council Members

531,579

3,067,665

3,262,405

588,145

Revenue Grant

510,525

3,214,998

Establishment

1,586,198

297,336

Examination Charges

374,726

Repairs & Maintenance

272,400

Others

259.546

592,380

4,692,859

| 3,003,395

PARTIII—SEC.4] THE GAZETTE OF INDIA, SEPTEMBER 25, 1999 (ASVINA 3, 1921) 3401

3402 THE GAZETTE OF INDIA, SEPTEMBER 25, 1999 (ASVINA 3, 1921) [PART III—SEC. 4

been adjusted to General Fund to write off partial outstanding In bank reconciliation statements of various bank accounts of the Institute. Further adjustment as may be necessary will be made on further review.

2. Balance 50% of 5th Pay Commission award as adopted by the Executive Committee of the Insti- tute in Its 267th meeting in December 1997 has been disbursed to the employees during the year. The amount involved Including Employers' P.F. Contribution is Rs. 32,28,464/-. In addition, a sum of RS. 6,89,380/- has been paid as gratuity to the retired employees.

3, Advances to the Regional Councils and Chapters amounting to Rs, 1,32,92,000/- for construction of buildings made In the past, could not be capitalized for want of proper related documents from respective Regional Councils and Chapters.

4. Silver Jubilee Capital Grants (Advance) to Chapters of the Institute amounting to Rs. 17,32,138/- remalned unadjusted pending receipt of necessary documents from the respective Chapters.

5, No provision for Income tax has been made In view of the entitlement of the exemption under Section 10 (23A) simultaneously with Section 11 of the Income Tax Act.

6. Employees' Gratuity Fund as on 31.3.99 is Rs. 94,69,204/, As against this, Investment Including Accrued Interest theroon Is only for Rs. 62,77,745/-. Thu3, there is a shortfall of investment amount- ing to Rs. 31,91,549/. This will be made good In the current year,

7, Employees' Benevolent Fund as on 31.3.99 is Rs. 2,42,325/-, As against this, Investment Includ- ing Accrued Interest thereon is only Rs. 2,21,962/-, Thus, there is a shortfall of Investment amounting to Rs, 20,363A. This will be made good in the current year.

8.. Verification slips have been issued to the different Regional Councils and Chapters for confirma- tion of balances.

9. For unadjusted advances paid to Examination Centres, equivalent provision has been made in these accounts,

10. Bank balances Include Rs. 5,561/- in Inoperative bank accounts.

11. Outstanding capital commitment estimated at Re. 8,45,028/- net of advance (previous year Rs.

NiL)

12. Previous year's figures have been regrouped wherever found necessary to conform to this year's groupings.

PART III—SEC. 4] THE GAZETTE OF INDIA, SEPTEMBER 25, 1999 (ASVINA 3, 1921) 3403

Rs.

6,550.00

6,550 00

To Balance in Fixed

Deposit with Bank

- Deposit with Bank

Interest received during the year 409,00

951.10

Accrued Interest due from Bank

Interest accrued upto 31.03,99 951 10

165.26

" Due from the Instiute for the year

406,26

Add Due from the Institute as per

last account

1,766.36

650.00 1,116 36

7.666.36

7,666.36

[

Rs.

10,000.00

10,000.00

To Balance in Fixed

Deposit with Bank

" Interest received during the, year

2,140.42

Accrued Interest due from Bank

2,140.42

Interest accrued upto 31.03.59

" Amount due from the Institute 1,133 00

2,133 00

Add : Due from the Institute as per

last account

4,273 42

3.273 42

1,000.00

13,273 42

6,000 00

6,000.00

To Balance in Fixed

Deposit with Bank

165.00

Interest received during the year

775 73

Accrued Interest due from Bank

775.73

Interest accrued upto 31.03.99

2,159.70

Amount due from the Institute

2,694.70

Add : Due from the Institute as per

last account

3,635.43

2,935,43

700.00

8,935, 43

8,935.43

3404 THE GAZETTE OF INDIA, SEPTEMBER 25, 1999 (ASVINA 3 1921) PART III—SEC 4

Rs.

11,200.00

11,200.00 By

To Balance in Fixed

Balance in Fixed Deposit with Bank

Deposit with Bank

Interest received during the year 432.00

1,685.92

" Accrued Interest due from Bank

1,685.92

Interest accrued upto 31.03.99

548.33

Due from the Institute

Add:

as per last account

702.01

" Advance from the Institute

3,368.26

1,685.92

1,682.34

Cost of Prize

Less:

12,885.92

Rs.

6,500.00

Balance In Fixed

6,500.00

To Balance in Fixed

Deposit with Bank

715.00

Interest received during the year

121.45

" Accrued Interest due from Bank

Interest accrued upto 31.03.99 121.45

" Amount due from the Institute 6,185.00

Due from the Institute as per

Add

5,470,00

last account

6,306.45

12,806.45

Rs.

12,000,00

12,000.00 By Balance In Fixed

To Balance in Fixed

Deposit with Bank

1,440.00

51.29

Interest received during the year

" Accrued Interest due from Bank

51.29

Interest accrued upto 31.03.99

3,120.00

" Amount due from the Institute

2,880.00

Add : Due from the Institute as per

last account

4,371.29

1,200.00 3,171.29

15,171.29

15,171 29

PART II—SEC. 4] THE GAZETTE OF INDIA, SEPTEMBER 25. 1999 (ASVINA 3, 1921) 3405

Rs.

10.000.00

10,000.00

To Balance in Fixed

Deposit with Bank

625.00

Interest received during the year

1,342.47

" Accrued Interest due from Bank

1,342.47

Interest accrued upto 31.03.99

4,044.50

Amount due from the Institute

4,419.50

Add: Due from the Institute as per

last account

6,386.97

5,386.97

1,000.00

15,386.97

Rs.

12,000.00

By Balance in Fixed

12,000 00

To Balance In Fixed

Deposit with Bank

1,050.00

Interest received during the year

886.68

" Accrued Interest due from Bank

886.68

Interest accrued upto 31.03.99

160.46

Add: Due from the Institute as per

471.88

last account Advance from the Institute for the year

2,569 02

Less: Cost of Prize 1,682 34 886.68

12,886.68

Rs.

12,000.00

By Balance In Fixed

12,000.00

To Balance in Fixed •

Deposit with Bank

1,440.00

Interest received during the year

256.44

" Accrued Interest due from Bank

256.44

Interest accrued upto 31.03.99

190.19

Add: Due from the Institute as per

last account

52.15

" Advance from the Institute

for the year

1,938.78

1,682.34 256.44

12,256.44

3406 THE GAZETTE OF INDIA, SEPTEMBER 25, 1999 (ASVINA 3, 1921) PART III—SEC .4

Rs.

To Balance in Fixed

15,000.00 By Balance in Fixed

15,000.00

Deposit with Bank

Accrued Interest due from Bank 1,785.21

Interest received during the year 825.00

1,231.11

Amount due from the Institute

Interest accrued upto 31.03.99 1,785,21

Add Due from the Institute as per 2,088.45

last-account

4,698.66

1,682.34 3,016.32

18,016,32

18,016.32

Rs.

To Balance in Fixed

3,000.00 By Balance In Fixed

3,000.00

Deposit with Bank

Accrued Interest due from Bank

359.01

Interest received during the year 195.00

Amount due from the Institute

3,642.60

Interest accrued upto 31.03.99 359.01

Add: Due from the Institute as per 3,447.60

last account

4,001.61

7,001.61

| 7,001 61

Rs. Rs.

To Balance in Fixed 12,000.00

Balance in Fixed

12,000.00

Deposit with Bank

Accrued Interest due from Bank 1,907.18

Interest received during the year 720.00

Interest accrued upto 31.03.99 1,907.18

Due from the Institute

Add:

424.96

as per last account

Advance from the Institute

2219.72

for the year

5,271.86

3,364.68 1,907.18

13,907.18

PART III—SEC. 41 THE GAZETTE OF, INDIA, SEPTEMBER 25. 1999 (ASVINA 3 1921) 3407

Rs.

Rs,

Re.

Rs.

Rs,

Rs,

Rs.

3408 THE GAZETTE OF INDIA, SEPTEMBER 25, 1999 (ASVINA 3, 1921) [PART IIII -SEC.4

Rs.

Rs.

Rs.

Rs,

Rs.

PART III - SEC. 4] THE GAZETTE OF INDIA, SEPTEMBER 25, 1999 (ASVINA 3. 1921 3409

Rs.

Balance in Fixed

12,000.00

12,000.00 By

To Balance in Fixed

Deposit with Bank

Interest received during the year 1,440.00 Accrued Interest due from Bank 718.00

4,078,83

Interest accrued upto 31.03.99

" Amount due from the Institute

718.00

Due from the Institute as per 3,480.00

Add;

last account

5,638.00

841 17

Less : Cost of Prize

4,796.83

16,796.83

16 ,796.83

Rs.

to Balance In Fixed

5,000.00

Balance In Fixed

5,000.00

Deposit with Bank

119.04

Interest received during the year

" Accrued Interest due from Bank

550.00

Amount due from the Institute 5,572.30

Interest accrued upto 31.03.99 119.04

Add: Due from the Institute as per 5,022.30

last account

5,691 34

10,691.34

Rs.

To Balance in Fixed

15,000.00

Balance in Fixed

15,000 00

Deposit with Bank

897.53

" Accrued Interest due from Bank

Interest received during the year 1,650.00

Interest accrued upto 31.03.99 897,53

" Amount due from the Institute 5,880.00 Add: Due from the Institute

4,230.00

as per last account

6,777.53

21,777.53

3 4 - 2 59 G I / 99

3410 THE GAZETTE OF INDIA. SEPTEMBER 25, 1999 (ASVINA 3, 1921) [PART III—SEC. 4

Rs.

Rs,

Rs.

To Balance In Fixed

5,000.00 By Balance In Fixed

5,000.00

Deposit with Bank

" Accrued Interest due from Bank 626.71

Interest received during the year 312.00

" Amount due from the Institute

1,575,70 " Interest accrued upto 31.03.99 626.71

Add: Due from the Institute as per 1,763.70

last account

2,702.41

500,00 2,202.41

7,202.41

Rs,

Rs.

To Balance in Fixed

21,000.00 By Balance In Fixed

21,000.00

Deposit with Bank

" Accrued Interest due from Bank 395.55

Interest received during the year 2,625.00

" Amount due from the Institute

1,898.66

Interest accrued upto 31,03.99 395.55

Add: Due from the Institute as per

956.00

last account

3,976.55

1682.34 2,294.21

23,294.21

PUSPA RANI DEY MEMORIAL PRIZE FUND as at 31st March 1999

Rs.

To Balance in Fixed

12,000.00 By Balance in Fixed

12,000.00

Deposit with Bank

" Accrued Interest due from Bank 1,560.00

Interest received during the year 780.00

Interest accrued upto 31.03,99 1,560.00

" Amount due from the Institute

293.55 Add: Due from the Institute

1,195.89

for the year

3,535.89

Less : Cost of Prize .

1,682.34 1,853.55

13,853.55

PART III—SEC 4] THE GAZETTE OF INDIA. SEPTEMBER 25, 1999 (ASVINA 3, 1921) 3411

Rs.

5,000.00

Deposit with Bank

550,00

Interest received during the year

73.84

73.84

Interest accrued upto 31.03.99

175.00

Advance from the Institute

for the year

275.00

Due from the Institute as per

Add:

last account

1,073,84

Less: Cost of Prize 1,000 00

73.84

5,073.84

Rs,

Rs.

Balance in Fixed

30,000.00 To Balance in Fixed

Deposit with Bank

" Accrued Interest due from Bank

78.90

Interest received during the year 3,600,00

" Amount due from the Institute

3,600.00

Interest accrued upto 31.03.99

78.90

3,678.90

33,678.90

Rs.

To Balance in Fixed

Balance in Fixed

10,000.00

Deposit with Bank

" Accrued Interest due from Bank

26.30

Interest received during the year 1,200.00

Interest accrued upto 31.03.99

26.30 1,226.30

" Amount due from the Institute

1,200.00

11,226 30

11,226.30"]

3412 THE GAZETTE OF INDIA, SEPTEMBER 25, 1999 (ASVINA 3, 1921) [PART III—SEC, 4

Rs.

Rs,

To Balance In Fixed

21,000.00

21,000.00 Deposit with Bank

Accrued Interest due from Bank 186.99 " Interest received during the year 2,625.00

' Due from the Institute 3,567.66

Interest accrued upto 31,03,99 186,99

Add: Due from the Institute as per 2,625.00

last account

5,436.99

1,682.34 3,754.65

24,754.65

24,754,65

LAKSHMI BAI DHANDOPANT KAVISWAR MEMORIAL PRIZE FUND as at 31st M a r ch 1999

Rs.

Rs,

Rs.

To Balance in Fixed

5,010,00 By Balance in Fixed

5,010.00 Deposit with Bank

' Accrued Interest due from Bank

499.00

Interest received during the year

" Interest accmed upto 31.03.99 499.00

499.00

Particulars

EDUCATION 31.03.99 31.03.98

GENERAL 31.03.99 31.03.98

Balance as per last Account Transfers a) Computerisation Fund Accounting Transfer from General Reserve Admission Fees and allocated Entrance Fees. Donation received for Buildings

from Earmarked Funds : Education Fund Research Foundation and Other Building Fund

87597774 39597085 12367476 34691189 4886358 9864604 5500000 3444896 -

51937797 55273115 - 20000 1391321 1689800 1883000 6407826 1625518

5,509.00

Udayan ray / Secretary

THE I. C, W. A OF INDIA 12, Sudder Street Calcutta-700 016