Subject NOT available · Indian Gazettes

click here for IIIF manifest

REGISTERED No. D. 221

The Gazette of India

EXTRAORDINARY

Part III—Section 4

PUBLISHED BY AUTHORITY

No. 4] NEW DELHI, SATURDAY, SEPTEMBER 26, 1970/ASVINA 4, 1892

Separate paging is given to this Part in order that it may he filed

as a separate compilation

THE INSTITUTE OF CHARTERED ACCOUNTANTS OF INDIA

NOTIFICATION

CHARTERED ACCOUNTANTS

New Delhi, the 16th September 1970

No. 48-CA(l)/70.—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 of the Institute of Chartered Accountants of India for the year ended 31st March 1970 is hereby published for general information:

THE INSTITUTE OF CHARTERED ACCOUNTANTS OF INDIA

Twenty First Annual Report of the Council for the Year Ended 31st March, 1970

The Council has pleasure in presenting its 21st Annual Report for the year ended 31st March 1970, in accordance with the provisions of Section 18(5) of the Chartered Accountants Act, 1949.

I. THE COUNCIL

1. Members of the Council and its various Committees,—As provided in Sec- tion 9 of the Chartered Accountants Act, the Seventh Council was constituted

( 7 )

8 THE GAZETTE OF INDIA EXTRAORDINARY [PART m~

on 17th September, 1967, partly by election and partly by nomination by the Central Government, The names of the members of the Council and its various standing and other Committees, constituted under Section 17 of the Chartered Accountants Act, are given in Appendix IA and IB respectively.

2. President and! Vice-President—Shri H. B. Dhondy (Bombay), who was the Vice-President in the preceding year, was elected President by the Council at its meeting held on 15th and 16th September 1969, At the same meeting, Shri M. C. Bhandari (Calcutta) was elected as the Vice-President.

3. Council and Committee Meetings.—During the year, the Council held two meetings—the first on 15th and 16th September, 1969 and the second on 13th and 14th March, 1970. Details of the meetings held by the various Committees are given in Appendix IC.

II. FINANCES

1. Accounts,—The Balance Sheet as at 31st March, 1970 and the Income & Expenditure Account for the year ended on that day, duly audited, are appended at the end of this Report. The Income & Expenditure Account for the year shows an excess of expenditure over income amounting to Es, 78,357 as against excess of income over expenditure amounting to Rs. 43,420/- in the previous year.

These accounts include the accounts of the Regional Councils and their Branches and the Students' Associations and their Branches, except in the cases indicated in the note on the Balance Sheet,

2. Auditors.—Sarva-shrl P. R. Mehra and M. R. Venkataraman were the Audi- tors of the Institute's accounts for the year ended 31st March, 1970.

III. PROFESSIONAL MATTERS

1. Professional Development.—(a) The need for educating the public about the true role of the profession in the development of the country's economy has been engaging the attention of the Council for some time past. Certain steps have been taken in this direction and booklets containing information about the variety of services which a Chartered Accountant can render have been issued.

(Ib) In addition, steps are being taken to bring out a booklet "Why don't you get your accounts audited?" for circulation amongst all the partnership firms and other organisations whose accounts are not statutorily required to be audited. The Council has also made representations to the appropriate autho- rities to provide for compulsory audit of partnership firms having a turnover of Rs. 5 lakhs and also to associate professional firms with the work of accounts scrutiny in taxation and company law departments. These matters are under the active consideration of the respective departments of the Government and are expected to yield the desired results in course of time. These and other efforts are likely to improve the opportunities of work for the junior members! of the profession.

(c) The Council, in its efforts to further increase the professional opportuni- ties and to open new avenues of employment for the members, has undertaken to prepare a Note to propagate the usefulness of internal auditing and to impress upon the industrial houses to utilise the specialised services of Chartered Accountants to act as internal auditors. It is also proposed to organise Semi- nars/Courses etc. to impart higher training to members in the various tech- niques of internal auditing and to keep them abreast of the various develop- ments taking place in this field,

id) For strengthening the knowledge of members in the field of auditing, and for bringing their knowledge up-to-date on the latest developments in auditing techniques the Council has initiated action for the preparation of industrywise technical guides to audit for some of the major industries.

(e) The Council is actively considering ways and means of providing guide- lines to the members and the question of permitting them to associate with them members of other disciplines for rendering the entire range of Management Consultancy Services. The legal, ethical and other related issues involved in

SEC 4] THE GAZETTE OF INDIA EXTRAORDINARY 9

our members seeking to associate members of other disciplines for renderini Management Consultancy Services as well as the form of organisation througl which such arrangements could be permitted, are being examined, The Counci is also examining the ethical requirements relating to publicity by membera o the Institute.

(f) A study of the organisation of the offices of Chartered Acountants i: being conducted with the object of making recommendations In respect of main tenance of office records, adoption of office manuals, equipment etc. In thi: connection, H questionnaire to elicit Information from members about theii offices was published in the Journal and also issued to a few selected firms o: Chartered Accountants. The information thus collected is being processed anc it Is expected that the work on this project will get completed shortly.

(g) The various forms of audit reports and certificates which chartered accountants are required to sign and certify during the course of their profes- sional work are being scrutinised. It is proposed to approach the concerned authorities for such revision or modification of the form of reports and certi- ficates, as may be necessary to remove any attendant difficulties. The work or this project is progressing satisfactorily and it is expected that specimen forms for different tyrres of audit reports/certificates would soon be ready and recom- mended for adoption to the concerned authorities.

(h) The Council has accepted in principle that the provisions of the Chartered! Accountants Act should be amended appropriately permitting mutual references and assistance in their professional work between members of the Institute and members of such other learned professions (both within and without India) as might be recognised by the Council by resolution in this behalf.

The draft amendments in the Chartered Accountants Act in this behalf are .under consideration.

(i) The Council at Its meeting held in September 1969 decided that the Hindi Committee, which used to be an independent committee, should be made a Sub- Committee of the Professional Development Committee.

The sub-Committee has finalised translation in Hindi of Schedule VI to the Companies Act, including the Form of Balance Sheet" and Profit and Loss Account. The translation in Hindi of the Form of Auditor's Report under the Companies Act has also been finalised.

Currently, the Sub-Committee is finalising the translation in Hindi of the Form of Balance Sheet and Profit and Loss Account prescribed for Banking and Insurance Companies.

The Committee is also engaged in finalising the translation into Hindi of 4,500 words (in addition to the list of 700 already finalised) connected with accounting and auditing, prepared in collaboration with the Office of the Comptroller and Auditor General.

2. Research.—(a) During the year the Research Committee brought out the following Statements for the guidance of the members:—

(1) Statement of changes in the mode of charging depreciation in the ac- counts.

(ii) Statement on Valuation of Stocks for the purposes of financial ac- counts in case where Cost Accounting Records Rules have been prescribed under the Companies Act, 1956.

(b) The following Research Studies/Papers were completed during the year

(1) A Study on Shares Valuation has been brought out, as a priced publl- cstion.

(ii) A paper on "Direct Taxes: An International Comparison" has been completed and published in the journal of the Institute.

(iii) A ™te^on Mechanised Aid to Accounting has been published in the

10 THE GAZETTE OF INDIA EXTRAORDINARY \V\RT 111—

(i) Audit of Banking Companies. (To Reserve Bank of India)

(ii) Utilisation of Capital Reserve. (To Additional Controller of Capital Issues)

(d) The following Research Studies/Notes for guidance of members are under preparation:—

(i) Payment of Bonus Act—An Accountant's Study. (il) Investment Decision—Capital Budgeting with the Aid of the Dis-

counted Cash Flow Technique. (Under print) (iii) The statement on Qualifications in Auditors' Reports.

(iv) Compendium of notes isssued by the Institute. (v) Revised edition of A Guide to Company Audit. (vi) Auditor's enquiries into internal control, including the use of inter- nal control questionnaire,

(vii) Treatment in accounts of Expenditure during Construction, (viii) Revised publication of former Research Statements in Members Hand book series,

(c) A proposal to set up an Accounting Principles Board has been under consideration of the Council for sometime. The underlying idea was that as the composition of the Committees constituted by the Council undergoes changes at specific intervals due to elections, there was need lor constituting a body with a greater degree of academic independence and longevity, to ensure continuity in its deliberations. It was suggested that the main functions of the Board should toe to evolve sound accounting principles and practices.

After examining the legal aspects of the proposal and the reasons for which the Board had been proposed to be set up, the Council has decided that the objec- tives namely, longevity of tenure and continuity in deliberations, can be achieved by a' reorientation both of the composition and mode of working of the existing Research Committee. It has been decided to constitute the Research Committee for a duration of 3 years to be co-terminus with the life of the 'Council and to permit it to co-opt" members to the full extent provided in Section 17(2) of the Chartered Accountants Act, i.e., two thirds of the members oi the Committee The Council has also decided that the co-opted members could be drawn from members of the Institute engaged In different fields of activities, e.g. in ^ P r o- fession with industry, trade and commerce, educational institutions etc, and the benefit of their varied experience could be availed of by the Research Committee in its deliberations.

The Council has further decided that a panel of experts be drawn up and the benefit of their advice could be ensured for dealing with specific projects, and in addition, sub-Committees of the Research Committee should be appoint- ed in accordance with the provisions of the Chartered Accountants Regulations, for associating experts on specific tasks.

The Council has further decided that the Research Committee could broaden its functions into two categories, namely one dealing with .pure research in trie field of formulating accounting principles, and the other of continuing to deal with applied research, including the enunciation of generally accepted audi- ting standards and practice.

3. Post-Graduate Courses.—The Post-Graduate Course Committee carried out several activities for popularising, Management Accounting both among members and in Government, Business and Industry.

A Seminar on Financial Planning & Control was held at Ga-uhati on the 5th and 6th April 1969. The Seminar was inaugurated by Mr. R, Prasad, Chairman, Company Law Board, and attended by 76 participants at a fee of Rs, 100 each. The following subjects were discussed at the Seminar:

1. Planned Approach to Profitability, 2. Break Even Analysis for Profit Planning,

SEC 41 THE GAZETTE OF INDIA EXTRAORDINARY II

3. Cash Flows—Planning and Control. 4, Planning and Controlling Cash Flow. 0. Internal Audit as a Tool of Financial Control. 6. Various aspects of Capital Expenditure Control. 7. Limitations of Financial Planning.

Several programmes aimed at imparting training and education to the members In the field of Management Accounting were organised during this period.

The first Refresher Course in Management Accounting was conducted at Bombay during the period between 25th September to 4th October 1969. The Course was basically examination-oriented.

Orientation Courses on Discounted Cash Flow were organised at Bombay, Delhi, Madras and Calcutta- The Course at Bombay was held on 28th, 29th and 30th No- vember 1969. The Course at Delhi was held on 26th, 27th and 28th December 1969. The Course at Madras was held on 27th & 28th February and 1st March 1970. The Course at Calcutta was held on 27th, 28th and 29th March 1970. These Courses proved popular and were very much appreciated by the participants.

During the year under report, Scholarships of Rs. 500/- each were granted to 6 members for the purchase of books. These have been made from the funds col- lected out of contributions made, as also from the funds of the Council-

The following firms of Chartered Accountants have made contributions for the purpose:

1. M/s. Price Warehouse, Peat & Co., Calcutta, Rs. 500/- each for the years commencing from the year 1968-69.

2. M/s. S. B. Billimoria & Co-, Bombay, Rs. 500/- each for three years com- mencing from the year 1970-71-

3. M/s. S. R. Batliboi & Co., Calcutta, Rs. 500/- each for three years com- mencing from the year 1970-71.

4. M/s. Ray & Ray, Calcutta, Rs. 500/- every year commencing from the year 1970-71.

3. M/s. Brahmayya & Co., Madras, Ra. 500/- every year commencing from the year 1970-71.

The particulars of the number of members who appeared and were declared successful at the May and November 1969 Management accountancy Examination (Part I of the Course) are given in Appendix II.

o ^ TTh% ??d ^ t he yT⁶ar/,, ³° m e m b e rs w e re engaged in practical training for Part II of the Course. In the preparation of their theses, they are beinc tmided bv senior executives and accountants in Industry,

4. Expert Advisory Service.—From 1st April 1969 till 31st March 1970 8 oi the 9 queries referred to the Expert Advisory Committee were answered.

5. Employment Committee.-An All India Convention of Chartered Accountants In Industry was held at Vigyan Bhavan at New Delhi on 23rd and 24 ch Autmst 1969. It was inaugurated by Shri P. L. Tandon. About 188 members DarticirTated In the Convention.

Chartered Accountants Employment Assistance and Advisory Committees have been formed in Ahmedabad and Bangalore, in addition to those in Calruttn Madras, Bombay, Kanpur and Delhi. Calcutta,

The Committee has continued its efforts to help members in flndinc suitahlp employment, through advertisement, personal efforts and official reference The total number of members on the employment register on 31st March 1970 wnq ?no as against 384 on 31st March 1969.

12 THE GAZETTE OF INDIA EXTRAORDINARY [Y\&T III—

was also submitted to the Prime Minister on the provisions In the Finance Bil 1970, in April 1970.

A memorandum on the Taxation Laws (Amendment) Bill, 1969 was submitte to the Select Committee of Parliament in September 1969. Representatives of tta Council also met the Select Committee and gave oral evidence in October 1961 Representatives of the Council were also Invited to give further oral evidenc before the Select Committee in June 1970, and this is considered to be a signs honour done to the Institute.

A memorandum containing answers to the Questionnaire issued by the Dlrec Taxes Enquiry Committee appointed by the Government has been submitted.

7. Ad hoc Committee for dealing with unjustifiable, removal of auditors.—

During the year, no complaint was received by the Committee.

8. Cost audit (qualification for Chartered Accountants) Rules.--As alreadj mentioned in the last Report, the Government of India Issued orders for th< maintenance of cost accounting records and the conduct of their audit in respec of a few industries, but the qualifications in respect of Chartered Accountants to be eligible to perform cost audit were not prescribed under Section 233B ol the Companies Act. The matter was being vigorously pursued.*

9. Scale of lees lor work done by Chartered Accountants.—At its meeting held in March 1970, the Council has revised the scale of fees for the work done bj Chartered Accountants in India. The revised scale is reproduced below: —

" i. Forgiving ^expert evidence in courts of law in the Union of India :—

Between Rs. 500/- and Rs. 1,500/- accordingto the professional standing of the wilness, foi each day or part thereof, spent in attendance and /or travelling.

2. Other work :—

(a) Recurring Audits, Accountancy and Secretarial work :— Principal , . . , Rs, 5o/-toRs. 200/-per hour.

Qualified Assistants . . Rs. 30/- to Rs. 100/- per hour. (b) Taxation work :— Principal . . .. Rs. 100/-toRs. 300/-per hour.

Qualified Assistants , . Rs. 50/- to Rs. 150/- per hour.

•Subsequent to the report-period, the Government of India, by their notification dated 30th May 1970, have issued the Cost Audit (Qualification for Chartered Ac- countants) Rules prescribing the following qualifications for a members to be ap- pointed as Cost Auditor: —

(1) that he shall be a chartered accountant;

(2) that he shall be a fellow of the Institute for a period of 10 years; and

(3) that he shall be in practice within the meaning of the Chartered Account-

ants Act.

The Council also issued a notification to the effect that the financial auditor and other specified categories should not accept appointment as Coat Auditor for thei lame company.

tThe term "expert evidence" Includes evidence which an accountant is called upon to give by virtue of his having conducted audits or investigation.

NOTE.—The Council issues for general Information the above revised recommend- ed scale of fees which it considers reasonable under present conditions. It will be^ appreciated that the actual fees charged in individual cases will be a matter for' agreement between the member and the client.

SEC 4] THE GAZETTE OF INDIA EXTRAORDINARY 13

Principal , , . . Rs. 100/- to Rs. 300/- per hour.

Qualified Assistants . , Rs. 50/-to Rs. I5o/-pcrhour.

Office time spent in travelling is chargeable, and in addition travelling and out- of-pocket expenses in the case of out-station work.

10. Journal of the Institute.—"The Chartered Accountant"—In the year under report, steps were continued to be taken to improve the quality and utility of the Journal. Steps were also taken to secure more number of advertisements.

The average net paid circulation of the Journal increased from 10759 copies to 11407 copies per month, as has been certified by the Audit Bureau of Circulations Ltd., Bombay.

11. Publications.—In addition to the publications referred to under the head "Research"', the following publications were also brought out during ftic year under report: —

1. Chartered Accountants Act, 1949 (corrected upto 1-7-1969). 2. Chartered Accountants Regulations, 1964 (corrected upto 1-7-1969). 3- Opinion regarding certain provisions of Companies Act, 1956 (reprint). 4. Paper Book of All India Conference of Chartered Accountants—1969,

IV OTHER MATTERS

1. The Chartered Accountants Regulations.—Certain changes were made in the Regulation a, some of the important among them being:

(a) Changes in Election Regulations— The Council approved a number of changes in the election Regulations which would be applicable to the elections to the Council and Regional Councils in 1970. The more important changes are:

(1) The provisions of notification of the Council No, l-CA(18)/67 dated 27th March 1967, prohibiting the issue of manifestoes and circulars and organising parties to entertain voters, have been incorporated in the Regulations and it has been pro- vided that any breach thereof would render the member concerned liable for dis- ciplinary action by the Council.

(ii) For purposes of election, the ratio between the number of members to be elected and the number of voters, has been Increased as follows:

from 1:39O to 1 ,-470

Council RegionalCouncils . . .. from 1:195 t⁰ I=²35-

(iii) In the case of cities having more than one polling booth, each voter shall be individually informed of the particulars of his polling booth in advance so that, If he so desires, he could apply within the time specified, for permission to vote at another polling booth within the same city,

(iv) Members who, as per the list of voters, have to vote at a polling booth may apply for permission to vote by post if they would be away from their permanent iddress on the date of election,

(v) The attestation of postal voters in the case of members outside India would fio longer be necessary.

(b) Co-operation on Committees of Regional Councils.—The Regulations were *mended to provide that:

14 THE GAZETTE OF INDIA EXTRAORDINARY [PART III-

(i) Regional Councils may co-opt members of the Institute, who are not mem- bers of the Regional Councils, to be meihbers of its committees, with the condition that the number of members co-opted shall be within the ceiling applicable to the Committees of the Council of the Institute under Section 17(2) of the Chartered /Accountants Act;

(ii) The Chairman of any committee of the Regional Council shall always be a member of the Regional Council and not one of the co-opted members.

(c) Chances for appearance in the Intermediate Examination.—According to the second proviso to Item 4 of Schedule 'B' to the Chartered Accountants Regulations, as it stood, a candidate commencing service on or after the 18th day of July 1964, was n }t to be admitted to the Intermediate Examination if he did not clear it within six available chances after he became entitled to appear in it. While the question whether this provision should bo retained or not would be considered by the Council when considering the report of the Special Committee on Training and Education, to provide relief to those who would have been affected by the rule immediately, it was decided to amend the proviso to afford such candidates oppor- tunity of appearing In the Intermediate Examination In May and November 1970.

2, Joint Committee on the future of the Accountancy profession in India.—As

•was mentioned In the last year's report, the report of the Joint Committee was considered by the Council which unanimously endorsed the basic recommendation of the Joint Committee that the Accountancy profession being one, its affairs should be managed by a single Institute. The Council also appointed a Special Committee to go into the individual recommendations and submit a report to the Council. The Special Committee having made its recommendations, Government have already been addressed in the matter. The matter is now pending before the Government for a decision.

3, History of the Accountancy profession In India.—As has already been report- ed, Shri G. P. Kapadia, first President of the Institute, has completed the first draft of the History of the Accountancy Profession in India. Due to unavoidable circumstances, it has not yet been possible to bring out the publication- It is ex- pected to be completed by the end of March next.

4. The Gandhi Centenary.—As a part of the contribution to the celebration of Gandhi Centenary, the Regional Councils were requested to organise symposia on this topic at important centres. The Southern India Regional Council arranged a colourful function on 7th November 1969 presided over by Hon'ble Shri M. Karuna- nldhi. Chief Minister of Tamil Nadu. The Eastern India Regional Council arranged a Symposium on "Concept of Trusteeship" and a documentary film show on Maliatma Gandhi on 22nd November 1969. Hon'ble Shri Ajoy Mukherjee, the then Chief Minister of West Bengal Inaugurated the Symposium.

5. Library.—During the year 909 books were added to the Central Council Library at New DelhE Increasing use of library was made by the members and students as would be clear from the following figures:

Attendance

Year

]Sfo. of book consulted

1965-66 1966-67 1967-68 1968-69 1969-70

3852 4500 4810 4990 52OO

6508 7000 7800 8300 9000

In addition books are being sent from the Central Council Library at New Delhi, by post to members who are preparing for the Post-Graduate Course in Manage- ment Accountancy and are residing outside Delhi-

EC 4] T HE G A Z E T TE OF I N D IA E X T R A O R D I N A RY 15

T he Council s a n c t i o n ed a t o t al a m o u nt of R s. 34,100 for t he p u r c h a se of b o o ks lor t he R e g i o n al Council L i b r a r i e s. T he n u m b er of books in t he r e g i o n al c e n t r es d u r i ng t he y e ar 1969-70 a re given b e l o w: —

Region

Total N o. books.

Western India . . . , ,,

Southern India , , , . ,.

Eastern India , , , . ..

3459 2678 3082

6. Construction of the Annexe to the Institute's Building.—The work relating to the construction of the Annexe is in progress. The structural work of the lower basement, upper basement, ground floor, live office floors, Restaurant floor and the Auditorium floor has been completed. The remaining work is expected to be com- pleted by the end of December 1970

7. Nominees of the Council on other bodies,—The Council was represented on the following outside bodies by its members whose names are given opposite the names of the organisations: —

1. The General Countcil of the Institute of Applied Manpower Shri H. B. Dhondy Research.

2. The National Productivity Council ShriP.M. Narielvalii.

3. The All India Board of Technical Studies in Commerce , ShriR. Thakur.

4. The All India Boird of Technical Studies in Management . ShriP.K. Lahiri.

5. Board of Assessment of the All India Council for Technical ShriH.B. Dhondy.

Educational for advising Central & State Governments on Recognition of technical and professional Qualifications.

6. Study Group for Commercial subjects—Directorate General ShriR. Thakur.

of Employment n and Training

7. Inter-University Board ofilndia and Ceylon (Committee for 1. ShriB.R. Malhotra.

assisting m the preparation of a code of financial procedure 2. Shri Mahcsh Datta. for Universities)

8. Chartered Accountant's Benevolent fund.—During the year, the number of members Increased from 156 to 150 and a sum of Rs. 7150/- was disbursed- The balance to the credit of the fund at the end of the year stood at Rs. 54,399/- as against H's. 54,789/- at the end of the previous year,

9. S. Valdyanath Alyar Memorial Fund.—The scholarships of Rs. 30/- each ten- able for one year were granted to the articled clerks serving in the Western Region. In addition, two merits scholarships also of Rs. 50/- each tenable for one year were granted to students who had secured one of the five positions in the Intermediate Examination held in May 1969 but were not eligible to the scholarships under the merit and loan scholarship scheme, and another two to those who secured similar positions in the Intermediate Examination held in November 1969.

A Memorial lecture by Shri N. A. Palkhivala was held at Delhi on 26th May 1969 under the auspices of the Northern India Regional Council on the subject "Penalties under the various Tax Laws".

A third memorial lecture by Smt. Tarakeshwari Sinha M P was held at rni

!6 THE GAZETTE OF INDIA EXTRAORDINARY [PART III-

The number of members Increased during the year from 17 to 18. At the end at the year, the balance to the credit of the Fund was Rs. 15,228/- as against Rs. 18,332 at the end of the previous year.

V. CONFERENCES

1. All India conference of Chartered Accountants—The Council is happy to report the successful conduct of the All India Conference of Chartered Account- ants—1969 at Calcutta on the 19th, 20th and 21at December 1969 In the Sangit Kala Mandlr Auditorium on Shakesepear Sarani. It was inaugurated by Sir Biren Mookerjee, Governing Director, Martin Burn Ltd., and was addressed, among others, by the Sarvodaya leader, Shri Jayprakash Narayan and the Attorney General of India, Shri Niren De.

824 members from different parts of the country attended the Conference, besides 140 lady delegates.

The Conference had as its principal theme "THE ACCOUNTANT AND THE NEW CHALLENGES". This them was covered in five technical sessions devoted to five broad areas of Interest, and 15 papers focussing attention on the several aspects and Issues pertaining to this theme, as per details below, were presented and discussed:—

I. Accounting—

(1) The development of accounting concepts (2) Accounting Information for Management (3) Accounting problems in relation to inventories

II. Auditing—

(1) Classes of enquiries and audits under the Companies Act (2) Operational Audit for Management (3) The changing pattern of the audit function—are the auditor's functions and responsibilities limitless?

III. Taxation—

(1) Tax policies and economic growth (2) Responsibilities In the field of tax practice (3) Mercantile system of accounting and corporate taxation.

IV. Management Services—

(1) Management Services as an add to profitability (2) The organisational aspects of a Management Services practice (3) Export Promotion and the Marginal Contribution concept.

V. Professional Development

(1) The concept and content of accountancy training (2) Preparing for mechanised accounting (3) Gandhlan Philosophy and professional development-

The five technical sessions were presided over, respectively, by (1) Shri P. Brahmayya a past President of the Institute and a member of the present Council, (2) Shri G Basu, another past President, (3) Shri R. N. Muttoo, Chairman, Central Board of Direct Taxes and a member of the Council, (i) Shri A. K. Basalt, the then Managing Director of The Indian Cable Company Limited, and (5) Shri R. N. Sen, a member of the Council.

The arrangements for the Conference were looked after by a Conference Com- mittee which had Shri R. Venkatesan as the Chairman and Shri H. B. Dhondy as the Vice-Chairman. The Committee appointed a number of sub-committees to assist it In its work.

SEC 4] THE GAZETTE OF INDIA EXTRAORDINARY 17

The Council wishes to place on record its appreciation for the help rendered by the members and students of Calcutta in making the conference a success. Parti- cular reference is to be made to the excellent work done by Mrs. Jayanti Lahiri aa the Chairman of the Ladies sub-committee in arranging varioys programmes for the lady delegates.

2. Sixth Conference of Asian and Pacific Accountants.—As mentioned in the last report, the Council accepted the Invitartion for sending a delegation to the Sixth Conference of Asian and Pacific Accountants organised jointly by the Singapore Society of Accountants and the Malayaslan Institute of Accountants, in Singapore and Kuala Lumpur between 17th and 26th August, 1970.

A delegation, led by the President, Shri H. B. Dhondy, and consisting of six official delegates and approximately 15 observers, attended the conference.

Shri H. B. Dhondy contributed a paper on "The Scope and Practice of the Accountancy Profession" for the Conference and was invited to serve as Chairman of the Second Technical Session on "The Education and Training of the Accountant of tomorrow".

3. Tenth International Congress of Accountants.—The Tenth International Con- gress of Accountants will be held jointly by the Australian Society of Accountants and the Institute of Chartered Accountants in Australia from 16th October to 20th Otcober, 1972, in Sydney, Australia. The theme of the Congress is "Financial Measurement and Communication".

The Council has received an invitation for sending a delegation to the Congress. Members of the Institute desirous of attending the Congress have been invited to send their requests.

An invitation has also been received from the Congress Committee to nominate an author to prepare a national paper on "Information for Management".

4 Working Party of International CongTess of Accountants.—The Council con- sidered the invitation received from the President of the Tenth International Con- gress of Accountants, inviting our Institute to nominate two representatives on its working party, which has been appointed for reporting on the role of international congresses in the development of accounting thought and understanding. I ne Council considered this a signal honour conferred on the Institute of Chartered Accountants of India and decided to accept the invitation. The Council has nomi- nated Mr. N. R. Mody, a past President, and Mr. C. Balakrishnan, the Secretary of the Institute, as its representatives.

VI. REGIONAL COUNCIL AND THEIR BRANCHES

Regional Councils continued to function in five Regional constituencies viz.. Western (Bombay), Southern (Madras), Eastern (Calcutta), Central (Kanpur , and Northern (Delhi). The Regional Councils were active and arranged several con-- ferences, seminars, lectures, study circles meetings etc. A reference to the more important activities is given below : —

Western India. A seminar on Data Processing was arranged on 19th May, 1989 with the help of IBM, Bombay. Mr. N. A. Palkhivala spoke on 'Taxat on Laws (Amendment) Bill. 1969' on 7th July, 1989 A Symposium on the T""*¹™ Laws (Amendment) Bill 1969, and the Income-tax (4th Amendment) Rules 1969, was arranged on 19th July, 1969.

Mrs Tarkeshwari Sinha spoke on 'New Challenge in the Changing Economic Environment' at Tata Auditorium on 22nd October, 1969.

A Brain Trust Meeting was held on 3rd December, 1969 at Tata Auditorium.

A Seminar on Electronic Data Processing was held on 5th and 6th December,

1969 with the help of IBM, Bombay.

A Seminar on 'The Challenge to Chartered Accountants under the changing con- cepts rf Social responsibility of corporations under the Companies Act' was held on 23rd February, 1970.

Mr. N. A. Palkhivala spoke on Union Budget 1970-71 on 9th March, 1970.

;l8 THE GAZETTE OF INDIA EXTRAORDINARY [I\\RT III-

Southern India.—The Third Regional Conference was held in Coimbatore from 30th May to let June, 1969. The Conference was Inaugurated by Padmabhushan Shri K. Sreenivasan, Director, South India Textile Research Association. The Conference waa attende by 180 delegates.

A Machine Accounting Orientation Course in collaboration with IBM was arranged on 24th May, 1969. The Regional Council In collaboration with ICL organised an appreciation course on Electronic Data Processing on 26th, 27th and 28th June, 1969 at Madras.

A symposium on Taxation Laws (Amendment) Bill 1969 and Income-tax (4th Amendment) Rules 1969 was held on 16th August, 1969.

The Regional Council conducted a Company Law Seminar jointly with Company Law Study Circle on 29th August, 1969 at Madras. The Seminair was inaugurated by Shri R. Prasad, I.C.S-, Chairman, Company Law Board.

Two day seminar on Management Services was conducted on 12th aind 13th December, 1969 at Madras.

The fourth Regional Taxation Seminar was held on 28th February and 1st March, 1970 a>t Hyderabad.

Eastern India-—A seminar on 'Covernment-in-Business' was organised on 19th July, 1909. The Seminar was inaugurated by Shri Sushil Kumar Dhara, former Minister of Commerce & Industries, Government of West Ben^a]. The Regional Council also, organised one dary seminars on 'Management Services', 'Recent Trends In Accounting' and 'Project Planning & Control' on 9th August, 1969, 23rd August, 1969 and 27th September, 1969 respectively.

A Cultural Function was arranged at Sanglt Kala Mandir on 28th September 1969.

The Regional Council also organised symposia on the following subjects during the year under report: —

Subject

Date

The Taxation Law Amendment (Bill) 1969 Professional Opportunities Management Information System Shareholders problems on Role of Auditors. Finance Bill—1970

5th July, 1969. 8th November, 1969. 10th January, 1970. 27th February 1970, 6th March 1970.

Northern India.—On 19th July, 1960, a symposium on the Bill to amend the Income-tax Act, Wealth Tax Act,, Gift Tax Act and the Companies Sur Tax Act was held in New Delhi-

Branches of the ReQional Councils.—During the year, two ne wbranches viz. Nagpur Branch of the- Western India Regional Council and the Jaipur Branch of the Central India Regional Council were set up. In addition to the above, three more existing branches in the Western India Region viz. Ahmedabad, Baroda and Poona and five in Southern India Region viz., Bangalore, Coimbatore, Ernakulam, Hydera- bad and Madural also continued to function.

The Coimbatore Branch conducted two study circle, meetings on 'Economics of corrosion and the Accountant' and on 'National Banks and the challenge of the under privileged,. The Branch also conducted a symposium Jointly with Instltue of Management, Coimbatore on 'Change over from Managing Agency System'.

VII. MEMBERS

1. Membership Changes.—The number of members of the Institute on 31st 1970 was 10183—an increase of 815 since 31st March, 1969. During the year 306

SEC 4J THE GAZETTE OF INDIA EXTRAORDINARY 19.

Associates were enrolled as Fellows as compared to 228 in the previous year. A table showing the number of members on 31st March, 1970 compared to the members on 31st March, 1969 is given as Appendix III.

2. List of Members.—The list of members as on 1st April, 19G9 has been pub lished and copies have been supplied to the members who asked for Ihe same.

The postal zone numbers have also been published in the list after the addresses, wherever the information was available.

3. Disciplinary Action.—Details of the findings of the Council in the cases refer- red by it for enquiry to the Disciplinary Committee under Regulation 11(8) (1), since the last Report are given in Appendix IV.

4. Levy of Deposit with Complaints.—To discourage frivolous and baseless com- plaints against our members, a request was made to the Government of India to provide that every complaint should be accompanied by a deposit of Rs, 50 which would be refunded to the complainant If the Council comes to the decision that there is a prima facie case against the member concerned, but forfeited if the Council comes to the conclusion that thero is no prima facie case.

The Central Government have agreed In principle to our suggestion with the condition that the rule shall not apply to complaints made by or on behalf of Cen- tral Government or State Governments. The draft amendment to give effect to the proposal was notified for comments and the same is now awaiting approval of the Central Government.

5. Notes for Guidance of Members—

(a) Lien on documents.—The following note was published for the information and guidence of members in "The Chartered Accountant" for April 1969: —

"The Council has considered the question whether a Chartered Accountant has a particular lien upon documents belonging to his client which are in his possession until the fees are paid for any work done in relation to those documents and whether he can claim lien upon papers received from the Income-tax authorities along with notice of demand etc. belonging to his client in his capacity as representative for the reason that he has not been paid the fees due to him.

The legal advice obtained by the Council in this matter is that although a Chartered Accountant does not have a general lien in express terms he would have a particular lien and can retain all books and papers in relation to which he has performed services until such time that his remuneration has been paid. This of course, would be subject to any other special conditions such as professional misconduct, provi- sions of the Companies Act etc. In Income-tax matters, a Chartered Accountant acting as his client's agent would have a particular lien in respect of books and papers used in relation to representing the client in his capacity as an agent until the amount due to him for services rendered has been paid or accounted for to him."

(b) Dpplyina to enquiries to tender for professional work.—This note was re- published in "The Chartered Accountant" for May 1969.

(c) Panel of Auditors—A note on inclusion of names in the Panel of Auditors maintained by the Comptroller and Auditor General of India as well as informa- tion relating to the allotment of audit in respect of public sector undertakings was published in "The Chartered Accountant" for September 1969, It has been notified therein that as the existence of panel maintained by the Comptroller and Auditor General is made known the members will be free to write to him forwarding details about the structure of their organisation and such other particulars as desired by him with a request for placing them on the panel,

(d) Telephone Directory—The following note was published in "The Chartered

Accountant" for November 1969.

"The Council has already made it known through the Code of Conduct that it is not considered for a Chartered Accountant to have entries i n b o W J pe and/or under a classified list in the Telephone Directory, either by making a special request, or by means of an additional payment.

30 THE GAZETTE OF INDIA EXTRAORDINARY [PART III—

However, where the Telephone authorities include in the Telephone Directory for their area a separate Section in which names of subscribers falling within particular group classifications are published, whether with or without additional payment, members are free to have their names, or the names of their firms, in- cluded in such separate Section. In doing sp care should be taken to enquire that the Group heading is restricted to Chartered Accountants and the names does not appear in bold typ", or in a manner giving the impression of an advertisement, both of which continue to be prohibited and may render the member liable for disciplinary action."

(e) Advertisements in Press.—The following note was published in "The Chartered Accountant" for November 1969.

"Instances have come to the notice of the Council of advertisements inserted in News papers by persons who do not mention their names but claim to be Chartered Accountants, seeking 'part-time engagements as Auditors of Tax Ad- visers' or 'offering their services for carrying out accountancy, sales-tax and income-tax work'*.

The Council reiterates that the insertion by members of such advertisements even without disclosure of the identity, is prohibited. Attention of members is invited to the following extract from the "Code of Conduct" published by the Institute [Third edition—February 1969, page 17—Clause (6)]: —

"Members should not advertise or circularise in a manner which could be Interpreted as offering to undertake professional work but a member may advertise in the public press (other than the accountancy presa) changes in partnerships or dissolution of the firm".

As regards te Journal of the Institute, classified advertisements (not display advertisements) by members in practice, which do not amount to soliciting or canvassing, but which are merely intended to give information, would, however be permitted to be published therein."

(f) Descriptive Trade Names.—The following note was published in "The Chartered Accountant" for November 1969.

"The Council is of the opinion that the members should restrict the use of trade/firm names to proper names and not adopt anything which might smack of •publicity or might contravene the various provisions contained In the Schedule to the Chartered Accountants Act, 1949."

VIII. ANNUAL AWARD FOR THE BEST PRESENTED ACCOUNTS

During the year under report 137 entries were received for the competition for the best presneted accounts.

The Shield for the best presented accounts during the year 1967-68 was award- ed to Philips India Ltd. for their annual report and accounts for the year ended 31st December 1967.

Plaques for highly commended Accounts were awarded to—•

Associated Electrical Industries (India) Ltd., for the year ended 31st October 1967.

The Britannia Biscuit Company Limited, for the year ended 31st March 1968.

Ceat Tyres of India Limited, for the year ended 31st December 1967.

IX. ARTICLED AND AUDIT CLERKS

1. Special Committee on Education and Training.—As has already been report ed, the Council had appointed a Special Committee to enquire into issues concern- Ing the educational and examination system for membership, as also the role of the institute in providing opportunities for continuing self-education to members and make suitable recommendations. The Committee had issued two sets of ques- tionnaire for eliciting views on the various issues involved from members and students. The Committee had also meetings with heads of Important public sector •units, leaders in industry, leading educationists, representatives of Chambers of

SEC 4] THE GAZETTE OF INDIA EXTRAORDINARY 21

Commerce, senior members in the profession, students, etc., for eliciting their views. The Committee has submitted its report to Council which has been accept- ed. Early steps will be taken to implement the recommendations of the Committee.

2. Fresh Enrolments.—The number of articled and audit clerks registered the year, compared to those registered in the previous year, are given below:

1968-69

1969-70

3209 1028 Articled clerks , Audit clerks ,

2636 95a

Total:

3588

4237

3. Maintenance of list of vacancies of Articled Clerks.—The Council has pre- pared a list of vucancies of articled clerks available with the members of the Ins- titute all over the country. This list contains the names of the members of the Institute with their full postal addresses town-wise and regionwise and also the date or dates on which the vacancies would arise. Students desirous of taking up the course may refer to the list at the headquarters of the Institute at Delhi and also at the offices of the Regional Councils at Bombay, Madras, Calcutta, Kunpur and also at branch offices of the Regional Councils at Ahmedabad, Bangalore, Barcda, Coimbatore, Ernakulam, Hyderabad, Madurai, Boona, Nagpur and Jaipur.

4. Permission for other courses.—"Working Hours of Employer" clarified.—Articl- ed and audit clerks are being permitted to attend classes for other courses provid- ed te classes are not held between 10-30 A.M. and 5.00 P.M. and also provided that this is outside the normal working hours of their employers. The Council has decided that the "normal working hours" of the employer, while considering granting permission to articled/audit clerks for study for other courses, should be interpreted to mean the normal working hours prescribed by the employer for all his articled clerks which need not necessarily be the Fjme as the working hours for his establishment in general,

5. Students'Assoclations and their branches.—The Students' Associations and their Branches were very active during the year. They held conferences, lecture meetings, symposia, etc., and arranged industrial visits and picnics.

6. Coaching Board.—(a) During the year under report, 2915 students were en- rolled for the Intermediate Course as against 3,016 in the previous year. For the Final Examination 1552 students commenced tuition as against 1647 students In the previous year. The number of students who completed tuition during the year was 2,370 and 1574 for the Intermediate and Final Courses respectively. (Details are in Appendix V)

(b) Rivision Classes.—These were held at all the Regional headquarters and at 12 other places. These continue to be popular. In addition, at Madras two Inten- sified Courses extending over 12 weeks were organised for the benefit of the weaker students.

Preliminary stops were taken during the year for organising Study Groups in Management Accounting and Taxation. The object of the Survey Groups is to acquint students with the practical aspect of the two subjects. These study groups would be for the benefit of the students who are above the average.

Steps were also initiated during the year for organising oral classes in English at centres where the medium of instruction of the University is other than English.

(n Students Libraries—During the year a students' library was establishing at Tiruchi, Ernakulam and Trivandrum, thus bringing the total number of such libraries to 17 excluding those at Regional headquarters. The Board also accorded its sanction to the establishment of a students' library at Udaipur

22 THE GAZETTE OF INDIA EXTRAORDINARY [PART Ill-

Further, a number of libraries was strengthened by supplying additional books-

Id) Other Facilities provided to students:

The facilities mentioned in the previous report continued to be provided. These are:

O) A short course in English; (2) Incentives lor contribution to students' page in the Institute's Journal;

(3) Declaration Contests carrying a first prize of Rs. 100 and a second prize of Rs. 50 (in books) at Regional headquarters. The Board has decided to extend this facility to the Branches also.

(4) Liaison Committees at Regional headquarters to build another channel

of communication between the students and the Board.

(e) Merit & Loan Scholarship.—During the year 7 Merit and 16 Loan Scholar- ships were awarded. Applications for 4 loan scholarships have been approved but as yet in this respect the formalities have not been complied with by the students.

The cumulative total of scholarships awarded till 31st March 1970 is as follows:

Merit Scholarships Loan Scholarships

• • 40 • • 61

(f) Retirement of Shri B. R. Malhotra, Director of Studies.—During the year Shri B. R. Malhotra, the Director of Studies of the Coaching Board since its incep- tion in 1956, proceeded on leave on 15th March 1970 preparatory to retirement. The Coaching Board at its meeting held on 12th March 1970 recorded its "appre- ciation of the valuable and tireless service rendered by Shri Malhotra in placing the working of the Board on a sound footing ever since its formative stages, the credit for which in no small measures belongs to him".

The Council in its meeting held on 14th March, 1970 also decided to place on rceord its appreciation of "the yeoman service rendered to the Institute by Shri B. R. Malhotra over a period of nearly IS years during which he served as Director of Studies, and also, for some time after the death of Shri Srinivasan officiated as the Secretary of the Institute. The Council appreciated lhat the success of the coaching scheme of the Institute, which was started under Shri Malhotra in the year 1956, was largely due to his tireless efforts".

X. EXAMINATIONS

1, Examinations 1969.—The Examinations were held as usual in May and November 1969 at various centres all over India. The statistics regarding the number of candidates who appeared and those declared successful are given in Appendix VI.

2. Prizes and Certificates of Merit.—Names of the candidates who were awarded Prizes and Certificates of Merit in these Examinations are included in Appendix VIII.

XI. OBITUARY

At its meeting held in September 1969, the Council condoled the death of Dr. Zakir Hussain, President of India. Further at its meeting held in March 1970, the Council also condoled the deaths of Shri U. C. Majumdar, a member of the Council from 1967 to 1969 and Shri Sailen Ghose, a member of the Council during the periods 1949—1955 and 1958—1961. Condolence resolutions were sent to the bereaved families.

2. Death of Members.—The Council records with regret the sad demise, during the year, of the members whose names are given in. Appendix VIII.

XII. APPRECIATION

The Council wishes to place on record its grateful thanks to the Government for Its continued support and assistance.

SEC 4] THE GAZETTE OF INDIA EXTkAORDINARY 2j

The Council also wishes to place on record its appreciation of the work done by the officers and staff during the year under report.

C. BALAKRISHNAN M. C. BHANDARY H. B. DHONDY

Secretary Vice-President President

New Delhi, the 16th September 1970

APPENDICES I (A, B, & C)

(Reference Sections I-i and 1-3 of the Report)

A. MEMBERS OF THE COUNCIL

DHONEW, H. B.

President

BNANDARI, M. C.

Vici-Prcsidcnt

New Delhi

Bombay

Calcutta

Calcu"a New Delhi Calcutta

Calcutta Bombay

Calcutta Calcutta Ahmedabad Kanpur

Bombay New Delhi

Argadc, S. G Bombay Arjunanj K. A. Madras Bosc, A. C Rrahmayya, p, Madras Ddmania,H. M. . . . . .. . , Bombay Gargieyc, B. D. , Beawar Haribhikti,V. B Khanna, R. K New Delhi Kothari.E. S Krisbnan, N. C. . Madras LabJri,P. K. Maitra H. K. Mallik,P. K Muttoo, R. N. . . . . . . ,, New Delhi Narielvala, P. M Parikh, Anil M. Rao,H-A. K. . . . . . . .. Bangalore Saha, G- M Sen, R. N. T"alati,H. M. Tandan, A. B. Tandon, P. L. New Delhi Thakkar, A. S Thakur, R. Vcnkatesan, R. . Madras

B. MEMBERS OF THE VARIOUS COMMITTEES

Ca) Standing Comittees

(0 Executive Com'mittee

Shri H. B. Dhondy, President Shri M. C. Bhandari, Vice-President Shri R. K. Khanna Spri N. C. Krishnan Shri P. K. Mallik

(li) Eximiantion Committee

Shri H. B. Dhondy, President Shri M. C, Bhandari,Vice-President Shri K. A, Arjunan Shri H. M. Damania Shri P. K. Lahiri

24 THE GAZETTE OF INDIA EXTRAORDINARY [PART m—

(iii) Disciplinary Committee

Shr! H- B. Daondy, President Shri M. C. Bhandari, Vice-President Shr'H. K. Maitra Shri P. M. Nar'clvala

ShrlR. Vankatcsan

(h) Non-Standing Committees

Ci) Research Committee

f \ Co-opted members

Shri R. N. Sen, Chairman Shri P. M Narielvala, Vice-chairman Shri H. B. Dhondy, President (Ex-Officio) Shri M. C. Bhandari, Vice-President (Ex-Officio) Shri B. S. Kothari Shri P. K, Mallik Shri R. Venkatesan Sh ri J. Anderson Shri M. H. Mody Shri B. N. ParHiwalla (_

(ii) Post-Graduate Course Committee

Shri P. M. Nar elvala, Chairman ShriH. M. Damania, Vice-Chairman ShriH B Dhondy, President (Ex-Officio) Shr; M. C. Bhandari, Vice-President (Ex-Officio) S h r i B . D. Gangicya Shri P. K. Mallik Shri M. P. Chi talc •{ Co-opted members Shri R. M. Bhandari {_

lii) Professional Development Committee

Shri R. Thakur, Chairman Shri A. C. Bose, Vice-Chairman ShriH. B. Dhondy, President (Ex-Officio) Shri M. C. Bhandari. Vice-President (Ex-Officio) Shri B. n. Gargieya ShriB. S. Kothari Shri Anil M. Parikh Shri a. M. Saha Shri R. N. Sen

NOTE:—This Committee has a Hindi Sub-Committee under the Chairmanship of Shri B. D. Garjiicya fBeawar)

(i) Taxation Committee

ShriP- Brahmnyya, Chairman Shri R. N. Muttoo, Vice-Chairman Sh^i H. B, Dhondy, President (Kx-offlcio) Shri M. C. Bhandari, V'ce-Pre&ident (Ex-Officio) Shr: H- M. Damania Shri H. A. K. Rao Shri A. B. Tandan f Shri Y. H. Malegam -I Co-opted members Shr; Sukuimr BnaTtacharya L

(v) Coaching Board

ShriH. M. Talati, Chairman ShriH. B. Dhondy, President (Ex-Officio) Shri M. C. Bhandari, Vice-rr sident (Ex-offlcio) Shri K. A. Arjunan ShriV. B, Har^bhakti Shr¹' P. K. Lahiri

SEC. 4] IHh GAZETTE OF INDIA EXTRAORDINARY z<

(vH Employment Committee

Shri S. G. Argadc, Chairman ShriB. S. Kothari, Vice-Chairman Shri H. B. Dhondy, President (Ex-officio) Shri M. C. Rhiwdari, Vice-Presidcnr (Kx-offlcio) ShriR. K. Khanna Shri H. A. K.Rao Shri A. B. Tandan

(vii) Expert Advisory Committee

Shri V. B. Haribhakti, Chairman Shri A. S. Thakkar, Vice- Chairman ShriH. U. Diondy, Prcsidcnr (Ex-Officio)

Shri M. C. Bhandari, Vice-President (Ex-offlcio) Shri R. N. S"i S Srf' C. C. Chokshi V Co-opted members Shri M. H. Modi J

(viii) Adhoc Committee for looking Complaints of uniiMifiabe re n?vih from Atiitorship into

Shri A. S. Thakkar, Chairman Shri Anil M. PMrikh, Vicc-Chairmnn Shri H. B. Dhondy, President (Ex-officio) Shri M. C. Bhandari, Vice-Presideni (Ex-offlcio) Shri G. M. Saha

(ix) Special Committee on Education &L Training

Shri H. B. Dhondy, President (Chairman) Shri M. C. Bhandarl, Vice-President (Vice-Chairman) Shri V. B. Haribhakti Shri N. C. Krishnan Shri P. M. Narielvala Shri A. B. Tandan Shri R. Thakur Shri R. Vciikatesan

(x) University Liaison Committee

Shri G. M. Saha, Chairman Shri V. B. Haribhakti, Vice-Chairman Shri H. B. Dhondy, President (Ex-officio) Shri M. C. Bhandari, Vice-President (Ex-offlcio) ShriH. A. K, Rao 1 Shri S. V. Gharalia V Co-opted mcmberN

Shri H. M. Majumdar j

ShriH. B. Dhondy, Editor-in-Chief Shri S. G. Argade Shri H. M. Damania ShriV. B. Haribhakti Shri Anil M. Parikh Shri H. M. Talati Shri A. S. Thakkar

2.6 THE GAZETTE Of TNDIA EXTRAORDINARY [PART III—

C. Council and Committee Meeting!.

No. of meetings heldir 1969-70 1968-69

i.  Council                                                                  2          2
2.  Standing  Committees
   (0  Executive Committee                                                  6            5
   (it) Examination  Committee                                               4           6
  (iii) Disciplinary  Committee                                              4           5
3.  Non-Standing Committees
    (0  Research                                                             2          3
   (it) Post-Graduate Course                                                 4          5
  (iii) Professional Development                                             2          2
  (if)  Taxation                                                             2           2
   (v)  Coaching Board                                                       4           3
   ("')  Expert Advisory                                                     2
  (pit)  Adhoc  Conmittce  for  loiking hV.o complaints  of  unjustifiable
        removals from  auditorshjp
  (yiii)  Employment                                                          1          2
   (ix)  Editorial Board                                                      8         12
   (x)  Hindi  Committee                                                     3           2
4.  Special Committees
    (0  Under Section 4(1) (iii)                                             2           3
   (")  Under  Section 4(1) (iv)                                             2           3
  (iii) On Education  and  Training                                          8           2

APPENDIX II

(Reference Section III-3 of the Report)

Number nf Members atotieared and declared successful at the Management Accountancy Examination.

M ay 1969 N o v. 1969

N u m b er of c a n d i d a t es a p p e a r ed in B o th G r o u ps .

N il P a s s ed in B o th G r o u ps

Nil P a s s ed in G r o up I o n ly . . . ..

P a s s ed in G r o up II o n ly

N u mb er of c a n d i d a t es a p p e a r ed in G r o up I o n ly

Nil N u j n b er P a s s ed . . . . . ..

16 G r o up II o n ly

N il N u m b er P a s s ed . . . . . ..

SEC 4] TH? GAZETTE Of INDIA SXTRACmRRJARY 27

APPFNDIX III

(Reference Section VII—1 of the Report)

dumber of members as on 31st March 1969 and 31st March 1970.

Associates

Fellows

Total

31st March 1969

31st March 1970

31st March 1969

31st March 1970

3ist March 1970

Members holding certificate

of practice ,

2564 2826

3884

6134 6710

357°

Others . . ..

228

240

3006

3234 3473

3233

TOTAL

9368

2792

10183

7117

3066

6567

APPENDIX IV.

Reference VII(3) of the Report

Disciplinary Action against members

FINDING OF THE COUNCIL

Making a false statement knowing it to be false.

A member WJS found guilty of other misconduct in terms of Sectional of the Chartered Accountants Act for having stated in his application for employment as an Accountant that he had earlier worked for a period of three years as an Accountant in another concern.This state- ment was proved to be false on enquiry. The Council had recommended to the High Court removal of his name for a period of three months. The High Court accepted both the finding and the recommendation of the Council.

Soliciting professional work by means of letters.

A member was found guilty of a repetition of professional misconduct under clause (6) of Part I of the First Schedule to the Chartered Accountants Act for haying written a letter to the Co-operative Department asking for allotment of audit work to his firm. The respondent had thereby repeated the misconduct for which he hid earlier been administered a reprimand. In terms of Section 21(4) of the Act, the Council removed his name from the Register of Members for a period of two years.

2 "

APPENDIX V

(Reference Section IX—6(a) of the Report)

NUMBER OF STUDENTS ENROLLED DURING THE YEAR 1969-70

FINAL COMPULSORY

INTERMEDIATE

Comp.

Opt.

Gp. I

Gp. II

Number of Students who were enrolled

on 1st April 1969

T H E

Enrolled during 1960-70

9 12

5889 2915

Nil Nil

(2146)

C1638)

(2246)

(i638>

(5253) (3015)

2381

1540

(15)

(9)

fi) (i)

2536

1540

Nil

4076

8804

3921

G A Z E T T E Number of students who completed tuiton which include 247 ard 8 students respectively who discon tinued tuition during the year.

(1348)

2370

1565

C8)

(2379)

1549

(1403)

(15)

O F

2527

2356

6434

N D

Figures shown in the brackets are for the previous year.

E X T R A O R D

N A R Y

[

P A R T

I I I

—

SEC 4] THE GAZETTE OF INDIA EXTRAORDINARY 29

APPENDIX VI

(Reference Secti on X-i of the Report)

Particulars of Examination

1969-70

No of can- No of can- didates who didates pas-

1968-69 No. of can- No. of can- didatea who didates pas-

appeared sod

appeared

sed

142 310

46 77 Preliminary Examination May Nov

30 44

199 369

820 799

2794 2961

541 1008 Intermediate Examination May Nov

2721 2758

Final Examinati on

No. of No. of candi- candi- dates dates passed appear-

No. of candi- dates passed

No. of No. of candi- candi- dates dates pissed passed in Gr inGr I only II only

ed in Gr II

No. of candi- dates appear- ed in G rl only

No. of No. of candi- candi- dates dates appear- passed cd in in Both Both Grs Grs

only

1076

195 601

2 20 May 1968

690 152

Nov 1968

64 194 97 201 1240 302 6z6 167

752 H9

276 803

May 1969

1267

52 233

354 745 136

Nov 1969

1411

328 813 3 25

176 H3

784 145

APPENDIX VII

(Reference Section X-2 of the Report)

Prim; a 11 Ostifci tes of Merit

FINAL EXAMINATION

                                          May  1969                 November 1969
 1.  G.P. Kapadia  (First  President)  Gold
     Medal                               S.R. Jain                 G.  Natarajan
 2.  SirShapoorji  Billimoria Prize (Value
     Rs.  2QO.00)  for the best  paper  on
     Accountancy                          S.R. Jain                G.  Natarajan
3.  A.F. Ferguson  Cash   Prize  of Rs.
     200.00 for the best paper  on Audit-
     ing                                 MadanLalGrover&          G.  Natarajan
                                          Sivarama  Krishnan
4.  N.M. Shah Prize (Value Ra. 200,00)
     for the best paper on Taxation      S.R. Jain & R.L. Nalkha  R. V.  Sampat
5.  R. Sivabhogam Prize to the best  lady
     candidate                           Miss D.K. Bardi           Miss  S. A. Popat
6.  G. Basu  Foundation  Award  for the
     best student  of the year  1969     S.R.Jain
7.  Certificates  of Merit
     1st  Rank                           S.R. Jain                 G.  Natarajan
     Ilnd  Rank                          R.L. Nalkha               V.  Govindarajan
     Illrd  Rank                          Ghander  Mohan  Mittal    B.L. Agarwal

a0 THE GAZETTE OF INDIA E}£TRAORDINARY [PART III—

INTERMEDIATE EXAMINATION

May 1969 November 1969

1. GP. Kapidla (First President) S l-

ver Medal Bhaskar Banerjee R. Sridharan

2. Certificates of Merit

1st Rank Bhaskar Bancrjcc R. Sridharan Ilnd Rank AtmaRamBankeraika A.M. Ghelani JamnaLalDepura A.K. Dhere & Illrd Rank

T.V. Kumar

Examinations were held in the following centres during the year 1969, i.e. in May and

November:

2. Bangalore 4. Calcutta 6. Delhi 8 Gauhati

10. Indore 12. Kanpur 14. Madura: 16. Poona

I. Ahmedabad 3. Bombay 5. Coimbatorc 7. Ernakulam 9. Hyderabad II. Jaipur 13. Madras 15. Nagpur 17. Trivandrum 18. Vjayawada.

APPENDIX VIII

(Reference Section XI-2 of the Report)

Names of Membtrs—Who died during the year 1969-70

S.No.

Name Membership No.

. ..

3- 4- 5- 6. 7- 8. 9-

10. I I.

1 2.

. ..

*3- 14. J5- 16. 17. 18. 19- 2 0.

i i.

. .

2 2. 23- 24.

]

25- 26. 27. 28. 29. 30.

3i> 32.

S h ri S. G h o se S i r d ar P r em S i n gh S o d h b a ns S h ri S . N. M u k h e r >i . . . . .. S h ri A . C. C h a k r a v a r ty S h ri S.R. P a r i kh S h ri C . N. S h ah S h ri U . C. M a j u m d ar . . .. Shri J.M.Roy S h ri R . N. M e h ta S h ri J . N. M i r za . . ' . . . . ' . . '. Shri J.L. Somaiya S h ri K . R. M e h e r - H o m ji S h ri S.A. K r i s h n an S h ri M . A. M c h t a, S h r i R . K. K u n du . . .. S h r i D . S. H e r b e rt S h ri P . O. V a r u g h c se S h ri H a r i d as B a n e rj i S h ri S . C. M a j u m d ar . . .. S h ri G . H. P a l k ar S h ri B . S. V i d y a r t hi S h ri C . S. R a m a n u j am . . . . . . .. S h ri J . F. K a p B d ia . . .. S h ri A . K. R ay S h ri H . K. B a m ] ee Shri R.C. Pershad Shri G.B. Pardiwala Shri S.V. Raman ShriM.M. Amin Shri Jayanta Kumar Roy Shri K.I. Eapen Shri S.K. Mukhopadhyay

23 163 2 <2 328 335 343 363 381 490 534 636 803 901 944 1184 1205 1368 1765 1791 1938 1977 2298 2835 2879 3641 3816 4357 4624 5381 5425 5548

Sue- 4] THE GAZETTE OF INDIA EXTRAORDINARY 31

33.    Shri S.V. Krishnamurthy                                             5593
34.    ShriD.D. Bhajiwala                                                  6288
35.    Shri  Aiiil Sankar Gupta                                            6753
36.    Shri G.C. D^                                                        7559
37.    Shri N.P. Thakkar                                                   7561
38.    Shri Punnoose Kovoor                                                Sooo
39.    ShriV.K. Raizada                                                    9885

THE INSTITUTE OF CHARTERED ACCOUNTANTS OF INDIA, NEW DELHI

BALANCE SHEET AS AT 31ST MARCH, 1970

31-3-1969

Funds & Liabilities

Property & Assets 31-3-70

31-3-69 31-3-I97O

I. Capital Reserve:

Rs.

Rs. Rs.

Rs.

I. Fixed AsseU:

26.97.926 2,70,548

29,68,474 3,05,030

(Schedule 'O 29,41.475

20,59,855 Balance: 31-3-1969 Add. Entrance Fees (Sche- dule 'A')

32,73,504

29,68,474

Il> General Reserve

II. Investment {at Cost)

7.71.975 (.Schednle ^D¹)

22,96,911

24,77,699 84,15.395

o Balancer 31-3-1969 Less: Deficit in Income

& Expenditure Account.

( + )43,42O

Quoted Rs. 5>2S,748

(Market Value Rs. 5,24,110}

(—)78,357

7=37.038

8,15.395

III. Funds:

Unqooted : Rs. 17,68,163 III. Earmarked Investments :

5,71,512

(a) Research Fund (Schedule 'E') 3,23,307

5)71,512

5,71,512

(a) Research Fund Balance: 31-3-1969 (b) Medal & Prizes Fund

(Schedule 'B'J

64,760

50^39

6,36,272

6,21,951

Quoted Rs. 1,48307 (Market Value Rs. 1,44,255) Unquoted: Rs. 1,75,000

IV. Provision for Gratuity Balance: 31-3-1969

1,81,946

91,334

46,028

b) Medals & Prizes Fund (Schedule 'F⁵) 60,025

. 6,17,540

3.83.332

Additions:

85,oS5

94,844

1,86,178

2,67,031

Quotad : Rs, 44^25 (Market Valne Rs. 35,800)

Less : Payments during the

(—>,626

year.

(—)4^32

2,64,405

1,81,946

V. Liabilities'.

Unquoted: Rs. 16,000 IV. Current Assets:

(a) Fees received in advance 15,89,273

(a) Publications, Study Mate-

15,23,639

1,64,414 3,45,757

1,87,123 2,29,706

rial and Stationery (at cost) 1,74,379 (10 Amounts receivable 3,42,862 (c) Advances & Prepaymants

(b) Creditors for Expenses (c) Other Liabilities

3,18,572 2,43,110

i i !

(including a sum of Rs. 2,82,^00/-paid for const- ruction of Annexe to the Building) 3.03,315

19,40,468

21,749

21.50,955

8,41,220

(d) Cash & Bank Balances

6,19,900

m n

I3,73)i4o

-14,40,456

j± TOTAL : 70,62,174

65,28,234 TOTAL :

70,62,174

65,28,234

Note : The statement does not incorporate the accounts of the Central and Nor- AtaHtors.' Report

1-4 thern India Students Association since their accounts have not beeo receiv- We have examined the above Balance Sheet and the annexed In- ed. The amounts payable to them are Rs. 1,265/-and Rs. 2,105/-respec- come and Expenditure Account, which in our opinion, respec- t i T e ¹?- tivelygive a trn e a nd fair view of the state of the Institute's . . , ., - r im , „ , „ ^ . . a ^ i r a s at 31st March, 1970 and its income aadaxpenditure for Due to revision of tne form of "Balance Sheet" the figures of the previous year the year ended on that date

hr< viz., 1968-69 have been suitably modified to conform to the practice adopted in the accounts of the year for comparison purposes.

P. R. MEHRA, M. R. VENKATARAMAK,

Chartered Accountants

Auditors.

o S.R. SIRCAR C. BALAKMSHAN M.C. BHANDAKI H.B. DHONDY Asisstant Secretary Secretary Vice-President President

NEW DELHI:

Dated : 14^1 September. 1970.

Z D >

JJ H

34 THE GAZETTE OF INDIA EXTRAORDINARY [PART III—

Annex are to Balance sheet

SCHEDULE A THE INSTITUTE OF CHARTERED ACCOUNTANTS OF INDIA, NEW DELHI

SCHEDULE

SCHEDULE OF ENTRANCE FEHS AS ON 3IST MARCH. 1970

Rs.

Fellows.:

(a)

Received during the year 1969-70

61,200 Associates:

(b)

(i) Instalments due as on 31st March, 1969

2,05,172 Less: Instalments due written off as irrecoverable Less: Amount recovered on restoration

1,178 896

282

(ii) Recoverable during the year 1969-70

2,04,890 2,66,400

Less: Instalments due as on 31st March, 1970.

2.43.830

4,71,290 2,27.460

3,05,030

S. R. SIRCAR, C. BALAKRISHNAN M. C. BHANDARI (H. B. DHONDY Assistant Secretary Secretary Vice-president President

P. R. MEHRA, M. R. VERATARAMAN,

Chartered Accountants

Auditors

Annexure to Balance Steel THE INSTITUTE OF CHARTERED ACCOUNTANTS OF INDIA, NEW DELHI.

c -

SCHEDULE ' B'

SCHEDULE OF MEDALS AND PRIZES F U ND ON AS 31ST M A R C H, 1970

]

Names of F u n ds

Income earned

Serial

Endow- ment

No.

Total (Cols. 3 & 4).

Balance (Cols. 5-6)

Cost of Medals& Prizes awarded.

Rs.

T H E G A Z E T T E

G. P. Kapadia 1st President Medal F u n d. .

B/F .

20,000

2,015

Fortheyear .

1,074

1,465 55o

22,015

20,941 O F

B/F For the year .

M i s s. R- Sivabhogam Locket F u n d . . . ..

242

5,ooo

i,7M 263

N D 2

1,977 6,977

6,735

B/F. . For the year

10,024

Sir ShapoorjiBillimoria Prize F u n d . . . ..

700 10,724

10,2^.9

229 471

475

1,005

1,425

B/F. . For the year

ShriR-Rajagopalan Prize F u n d. .

6,000

420

2 10

7,425

7,215

For the year .

5,000

434 5,434

E X T R A O R D

5,434

I S h r i N. Krishnaswamy Prize F u nd G. Basil & Co. Foundation in Accounting Research

5 6

For the year(idelud-

14,000

F u n d.

ing arrears)

I4,i£6

1=725 15,725 1,539

N A R Y

T O T AL .

60,024

8,276 68,300

64,760

3,54O

S.R. SIRCAR C. BALAKRISHNAN M. C. BHANDARI H . B . D H O N DY

jissistant Secretary Secretary Vice-President President

(P. R. M S H R A M. R. VENKATAKAMAN

Qfranend /\ccowtgnts

4 $

Anttextgeto Balance^ Sheet THE INSTITUTE OF CHARTERED ACCOUNTANTS OF INDIA,NLW D t L HI

SCHEDULE 'C

SCHEDULE OF FIXED ASSETS AS ON 31ST MAHCH, 1970.

COST

DEPRECIATION

^fo⁸¹ Nature of Assets.

Book Value

Additions/ Discarded

Total upto

For the year

Upto 31-3-69

Total upto 31-3-7°

31-3-70

J : ;

as on 3I-3-7O Rs.

Rs. Rs.

Rs.

⁸

G A Z E T T E

O F

2>i59 2,910

2,159 2,910

I 1 Lease-Ho]d Land at : (a) New Delhi , o .... (b) Kanpur 2 Buildings at :

N D

(a) CO N ew DeIhi(Centra]Council)

2,88,962

(—)47,no*

8,090

5>O3,6o5

1.79,996

1,67,533

4>5

(—)2o,553t

(it) Construction of A n n e x u r e t o t he Building.

72,986 9,02,672

9,75,658

9,75=658

C*) Bombay CWestern India Regional Council)

4,51,178

2,406

68,cg8 68,gc6

E X T R A O R D

(<0 Calcutta CEastern India Regional Council) .

3;73,5O3 4.17,^66 3,03^07

4,94^63 3,88,840

4.97*369 3,88,840

9,577 10,607 7,780

77.653

77=675 79,5c3 85,433

3 Etetric Installations & Fittings at : (a) NewDelhi(CentralConncil)

22,825

69,719

48,277

4,596 68,738

N A R Y

45,913

(0) Regional Councils, Students Associations andtheir Branches.

2,374 (-)4,738t 2,814

(—)S"577* 3,138

29>345

22,850

32,483 6,779

9,i&3

4 Air Conditioning Installations

. 1,41,064

1,41,064 1,03,705

33,623

3,736

5 Furniture, Fixtures & Safe at:

7,9S4

P A R T

(a) New D;Jhi (Central Council).

7.977 ;—)i5,oi3t 94,389

i.t>) K-gioniiCDuncLls, Students, Associations and their Branches.

2,28,190 (—)23,8S3*

1,72,487 22,077

1,01,425 1 52,481 10,417 62,898

1,17,902 1,31,666

2,12,291 1,94,564

6 Office Equipments at :

S L C

5,635

] (a) New Delhi (Central Council) (£>) Regional Councils, Students Associations and their Branches

* 1,16,895 76,144

-6,8 if. 13,1^9

4,9V¹ (—11,711 ]7,708

80,077 22,955

1,13,615 5^436

73,032 17,284

(—)i^59ot 5,671

7 Library Books at :

(a) New Delhi(Cantral Council) (b Regional Councils, StuJ'Qts Aii^ciations and their Branches.

4J,3C4 36,fic9

8 Motor Car

1,43,936 1,73,481 16,721

1,15,200 I>i6,c£2 11,972

90,878 1,04,

1,85^240 2,I0,2CQ 16,721

'0,040 :3,3 c 8 4,749

24,322 22,402 1,187

T H E

T O T AI

4O,29,C59

30,63,635

83,655 10 ,£7,5f4 -9^I=4'5

9,65,404

ic;c3,ff9

NOTE : Construction of Armexe to the Building.

*Cost of Assets Discarded. Depreciation on Assets Discarded

The total cipital commitment for the construction of Annexe to the Building is to the extent of Rs. 31,03,000/-including Rs. 2,00,000,.''- for

G A Z E T T E

Furniture and fittings.

0 1

' S. R. SracAR C. BALAKRISHNAM M. C. BHANDAEI H. B. DHONDY

Assistant Secretary Secretary Vice-President President

N D

P. R. MTHRA, M. R, VBNK.1TAR,\MAN

ChattereL Accountants Auditors

E X T R A O R D

N A R Y

3 7

38 THE GAZETTE OF INDIA EXTRAORDINARY [PART III—

AnnexiifC to Balance Sheet

SCHHDULU ' D'

THE INSTITUTE OF CHARTERED ACCOUNTANTS OF INDIA

NEW DELHI.

Schedule of Investments as OT 31st March, 197°.

Cost Particulars

Face

Sl. No.

Rs.

Value Rs.

General Fund ;

1,01,20O 4 i% Madras State Development Loan, 1970

1,00,000

1,02,610 2 4i% Maharashtra State Development Loan. 1970

1,00,030

1,01, IOO

1,00,000

4 i% Orissa State Devclopmtnt Loan, 1^70.

50,000 4% T en Year Treasury Savings Deposit Certificates

50,000

9.33,726 9-33,726 Fjxed Deposit with the Slate Bank of India.

2,000 6

2,000

F x ed Deposit with the Bank of India . . ..

1,03,000

1,00,000

P.O. 12 Year National Defence Certificates

46,625 8

50,000

3% 1st Development Loan, 1970-75 . . ..

2,506

3,100

3 % Conversion Loan 1946-66

14,38,826

T O T AL

U.39,767

II. Coaching Board :

40,000

40.000 1

P. 0. 12 Year National Plan Saving Certificates . Fixed Deposit Receipt with State Bank of India.

5.42,437 25,000

5.42.437 25,037 50,000

50,000

4% West Bengal Loan, 1971 4i% Maharashtra State Development Loan, 1972

50,000

50,207

4 % Loan, 1973

40,000

40,000 5 6 4 i% T en Year Defence Deposit Certificates

25,000

25,000 4 i% Maharashtra State Development Loan, 1974

25,030

4i % U. P. Development Loan, 1974 . . ..

24,463 60,000

60,000

P . O. 12 Year National Defence Certificates

T O T AL

8,57,437 8.57.144

22,96,911

22,96,263 G R A ND TOTAL

S.R. SIRKAR C. BALAKRISHNAN M.C. HANDARI H.B. DHONDY

Assistant Secretary Secretary Vice-1 _ 'dent president

P. R. MEHRA M.R. VENKATARAMAN Auditors. Chartered Accountants

SEC. 4] THE GAZETTE OF INDIA EXTRAORDINARY 39 4O THE GAZETTE OF INDIA EXTRAORDINARY [PART II—

S.R.O. 16-E.—Whereas, certain draft rules regulating the division of the Jhansi Cantonment into wards for the purpose of holding elections in the said Cantonment and the determination of the number of members to be elected by- each ward were published as required by section 31 of the Cantonments Act, 1924 (2 of 1924), at pa£es 89 to 92 of the Gazette of India, Part II Section 4, dated the 21st February, 1970 under the notification of the Government of India in the Ministry of Defence S.R.O. No. 115 dated the 13th February, 1970 inviting objections or suggestions frorn all persons likely to be affected thereby within a period of thirty days from the date of publication of the said notification;

And whereas, the said notification was made available to the public on the 21st February, 1970;

SSB. 4] THE GAZETTE OF INDIA EXTRAORDINARY 41

And whereas, no objections or suggestions were received from the public;

Now, therefore, in exercise of the powers conferred by clauses (a) and (b) of section 31 of the said Act and in supersession of the Jhansi Cantonment (Divi- sion into Wards) Rules. 1953, the Central Government hereby makes the following rules regulating the division of Jhansi Cantonment into wards and the deter- mination of the number of members to be elected toy each wards for the purpose of holding elections, namely;

1. Short title and commetcement:—(1) These rules may be called the Jhansi Cantonment (Division into Wards) Rules, 1970.

(2) They shall come into force at once.

2. Division of Cantonment into wards:—For the purpose of elections to the Cantonment Board, Jhansi, the Jhansi Cantonment shall be divided into the following wards namely:—

Ward No 1. Ward No. II Ward No. Ill Ward No. IV Ward No. V Ward No. VI

3. Boundaries of wardsi—The boundaries of each of the wards shall be as specified in the Schedule annexed to these rules.

4. Number of members to be elected.—The number of members to be elected from each of the wards shall be as shown below:

Ward No. I—1 member. Ward No. II—1 member. Ward No. Ill—1 member. Ward No. IV—1 member.

Ward No. V—1 member Ward No.VI—1 member.

THE SCHEDULE

(See rule 3)

Boundaries of Wards

Ward No. I

North:—Extending from Sadar Eaznr 'Boundary Pillar No. 19 towards "a -t. to Sadar Bazar Boundary pillar- Nos. I¹ 21, 22 up+o 23. From S a d- Bizar boundary pillar No, 23 the bounds -v runs Awards South to boundary r' Nr No. 24. From boundary pillar No. 24 fi° boundary runs towards East upto b-undary pillar No. 1.

East:—From Sadar Bazar bouiv'iry pill r- No. 1 th= boundary runs towards South to boundary pillar No. 2 u~to the crcssing of Johnson Road.

South:—From the crossing of Jhonson Road and the Sadar Bazar boundary- line running between boundary pillars Nos. 1 and 2 the boundary runs towards West to Sadar Bazar pillar No. 17 along Jhonson Road.

West:—From Sadar Bazar pillar No. 17 the boundary runs towards North to Sadar Bazar pillar No. 19 along boundary pillar No. 18.

Ward No. n.

North.—From the crossing of Jhonson Road and Sadar Bazar boundary line running between Sadar Bazar pillars No. 1 and 2 the boundary runs towards West to pillar No. 17 along Jhonson Road.

East.—From the junction of Sadar Bazar boundary line running between boundary pillars No. 1 and 2 and the Jhonson Road the boundary runs towards South along Causeway Road upto the junction of Jawahar L>al Nehru Road and Causeway Road passing through boundary pillar No. 2.

42 THK GAZETTE OF INDIA EXTRAORDINARY [PART ft—

South.—From the junction of Causeway Road and Jawahar Lai Nehru Road the boundary runs towards West along Jawahar Lai Nehru Road upto the cross- ing of Jawahar Lai Nehru Road and Artillery Road.

West.—From the junction of Jawahar Lai Nehru Road and Artillery Road' the boundary runs towards North upto the junction of Artillery Road and Jhon- son Road through Sadar Bazar boundary pillars Nos. 16 and 17.

Ward No. Ill

North.—From the junction of Jawahar Lai Nehru Road and Artillery Road the boundary runs towards East upto the junction of Jawahar Lai Nehru Road and Causeway Road.

East.—From the junction of Jawahar Lai Nehru Road and Causeway Road the boundary runs towards South to Sadar Bazar pillar No. 6 (the crossing of Dhobi Nala and Causeway Road) along Sadar Bazar pillars Nos. 3, 4 and 5.

South.—From Sadar Bazar boundary pillar No. 6 (the crossing of Dhobi Nala and Causeway Road) the boundary runs towards North West along Dhobi Nala upto the crossing of Dhobi Nala and Artillery Road. From this Junction the boundary runs towards South along Artillery Road where it meets the boundary line between Sadar Bazar boundary pillars Nos. 12' and 13 and then runs towards North-west and upto boundary pillar No. 13.

West.—From Sadar Bazar boundary pillar No. 13 the boundary runr towards North upto pillar No. 14 from, where it runs towards East upto the crossing of Dhobi Nala and Artillery Road. From this crossing the boundary again runs towards North along Artillery Road and upto the crossing of Jawahar Lai Nehru Road and Artillery Road.

Ward No. IV

North.—From the crossing of Convent Road and Cariarppa Road the boundary runs towards South East along with Cariappa Road upto its junction with Lalit- pur Road.

East.—From the junction of Cariappa Road and Lalitpur Road the boundary runs towards South along Lalitpur Road and upto the crossing of Lalitpur Road and Baberi Nala.

South.—From the crossing of Lalitpur Road and Baberi Nala the boundary runs towards West along the bed of Baberi Nala and upto the Cantonment boun- dary pillar No. 50.

West.—From Cantonment boundary pillar No. 50 the boundary runs towards North along the Cantonment boundary line through pillars Nos. 51, 52, 53, 54, 55, 1 and 2 upto the crossing of Convent Road and Cariappa Road.

Ward No. V

North.—From the junction of Lalitpur Road and Cariappa Road the boundary- runs towrads East along Cariappa Road upto its junction with Artillery Road. From this junction the boundary runs towards North East along Artillery Road upon its junction with Dhobi Nala. From this junction the boundary runs towards South East along Dholbl Nala upto boundary, pillar No. 45.

East.—From Cantonment boundary pillar No. 45 the boundary runs towards South to boundary pillar No. 49 along pillars Nos. 46, 47 and 48.

South.—From Cantonment boundary pillar No. 49 the boundary runs towards South West upto its junction with Lalitpur Road and Baberi Nala, along Baberi Nala.

West.—From the junction of Baberi Nala and Lalitpur Road the boundary runs towards North East along Lalitpur Road with its junction with Cariappa Road.

Ward No. VI

(i) North and North East.—(1) From Fort Boundary Pillar No. 8 the boun- dary runs towards East to Fort Boundary Pillar No. 5 along pillars Nos. 7 and 6.

(U) East and Sonth East.—From Fort Boundary pillar No. 5 the boundary runs towards South to Fort Boundary pillar No. 24 along pillars Nos.

SEOifl THE GAZETTE OF INDIA EXTRAORDINARY 4^

4, 3, 2, 1, 36, 35, 34, 33. 32, 31. 30, 29, 98 and along west of Phoota Gate Road pillars Nos. 27 and 26 and 23.

South and South West.—From Fort boundary pillar No. 24 the boundary- runs towards West to Fort boundary pillar No. 20 along pillars Nos. 23. 22 and 21.

West and North West.—From Fort boundary pillar No. 20 the boundary runs towards Northeast to Fort boundary pillar No. 8 along pillar No. 19, 18, 17, 16, 15, 14, 13, 12, 11, 10 and 9.

(ii) North and North East.—From the Cantonment boundary pillar No. 5 the boundary runs towards East along Cantonment boundary line to Cantonment boundary pillar No. 6, from Cantonment boundary pillar No. 6 it turns towards South to Cantonment boundary pilar No. 7, then from Cantonment boundary pillar No. 7 it turns towards East to Cantonment boundary pillar No. 17 running along the Canton- ment boundary and from Cantonment boundary pillar No. 17 to Sadar Bazar boundary pillar No. 16.

East.—From Sadar Bazar boundary pillar No. 16 the boundary runs towards South along Sadar Bazar boundary through Sadar Bazar boundary pillars Nos. 14 and 13. From boundary pillar No. 13, the boundary runs towards East and meets with Artillery Road between boundary pillars Nos. 13 and 12 and then runs along Artillery Road towards Southwest upto its crossing with Cariappa Road.

South.—From the junction of Artillery Road and Cariappa Road the boundary runs towards West ajong Cariappa Road upto the point where Cariappa Road meets Cantonment boundary between Cantonment boundary pillar Nos. 2 and S at the junction of Cariappa Road and Convent Road.

West.—From the point where CariaoEa Road meets Cantonment boundary be- tween Cantonment boundary pillars Nos. 2 and 3 at the junction of Cariappa Road and Convent Road the boundary runs towards North to boundary pillar No. 3 running along the Cantonment boundary.

(iii) North and North East.—From Cantonment boundary pillar No. 22 the boundary runs to Cantonment boundary pillar No. 36 running along the Cantonment boundary.

East.—From Cantonment boundary pillar No. 36 to Cantonment boundary pillar No. 42/A running along the Cantonment boundary.

South.—From Cantonment boundary pillar No. 42/A to Cantonment boundary pillar No. 45 running along the_ Cantonment Taoundary and from Cantonment boundary pillar No. 45 to Sadar Bazar boundary pillar No. 6 running along Dhobi Nala.

West.—From Sadar Bazar boundary pillar No. 6 to Sadar Bazar boundary pillar No. 19 running along the Sadar Bazar Boundary and from Sadar Bazar boundary pillar No. 19 to Cantonment btoundary pillar No. 22 running along the Canton- ment boundary.

[No. F. 29/61/C/L&C/66/2124/3/C/D(Q&C).J

44 TaE GAZETTE OF INDIA EXTRAORDINARY [PAM, H—

Taxation.—A pre-budget memorandum dealing with the levy of r e s i s t ed firms tax was submitted to the Prime Minister in February 1970. A memorandum ↩