REGISTERED No. D. (D.N.)
The Gazette of India
EXTRAORDINARY
PART III—Section 4
PUBLISHED BY AUTHORITY
No. 12] NEW DELHI, WEDNESDAY, SEPTEMBER 29, 1982/ASVINA 7, 1904 Separate paging is given to this Part to order that it may be filed as a separate compilation
772GI/82—1
(1)
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10 THE GAZETTE OF INDIA : EXTRAORDINARY [PART III—SEC . 11 12 THE GAZETTE OF INDIA : EXTRAORDINARY [PART III—SEC. 4] 13 14 THE GAZETTE OF INDIA : EXTRAORDINARY [PART III—SEC. 4] 15 16 THE GAZETTE OF INDIA : EXTRAORDINARY [PART HI—SEC. 4; 17772 GI/82—3
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36 THE GAZETTE OF INDIA : EXTRAORDINARY [ P A R T I U - S E C. 4] 27 28 THE GAZETTE OF INDIA : EXTRAORDINARY [PART III—SEC. 4]THE INSTITUTE OF CHARTERED ACCOUNTANTS OF INDIA
NOTIFICATION
Now Delhi, the 17th September, 1982
(CHARCTERED ACCOUNTANTS)
No. 48-CA(l)/82:—In pursuance of Sub-Section <5)of Section 18 of the Chartered Accountants Act, 1949, a copy of the Report and tho auJited accounts of the Counoil for the year ended 31"t March, 1982 is hereby published for general information.
33RD ANNUAL REPORT OF THE COUNCIL FOR THE YEAR ENDED 31ST MARCH, 1982
in accordance with tho provisions of Section 18(5) of the Chartered Accountants Act, 1949, tho Council has pleasure in presenting its 33rd Annual Report. Tho Report not only coven the activities of the Institute for tho year onded 31st March, 1932 but ah 3 refers to its significant activitio upto the date of thii report.
1. THE COUNCIL
1.1 Members of the Council and of Iti various committee!
The 11th Council consisting of 24 members of the Institute elected from five regional constituencies and 6 members Domi- nated by the Central Government, was constituted on 17th Sep- tember, 1979. Tho names of the Council members and the names of the members of various standing and other cornmlttew including the names of cooptcd members aic given in Appren- dices I and II respectively.
1.2 President and Vice-President
At the Counoil meeting held on 15th, 16th & 17th September, 1981 at Now Delhi, Shrl Bansl S. Mehta who held the Office of the Vice- President in the previous year, was elected President for a term of one year. At the same meeting, Shri Ashok Kum- bhat was elected VIce-Presldent for a similar term.
1.3 Council meetings
During the year 1981-82, the Counoil hold five meetings— the first on 27th , 28th and 29th April, 1981; the lecond on 20th
29and 21st July, 1981; the third on 15th, 16th and 17th September. 1981; the fourth on 21st, 22nd and 23rd December, 1981 and the fifth on 4th and 5th March, 1982. The meeting cf the Council on 20th and 31st July, 1981 was held, outside the headquarters of the Institute, at Madras as a experimental measure.
2. INTERNATIONAL RELATIONS
2.1 The International Federation of Accountants (IFAC)
(a) Tho Institute continued to bo a member of the Interna-
tional Federation of Accountants and Iadia continued to occupy its position as an elected member OD the Council.
(tj) SHri B, L. KVora ( u st P;oiiJent of the Institute) conti- nued to represent India on the Council of the International Federation of Accountants (IFAC).
(c) Shri Y. H.. Malcgam (past President of the Institute oontinuod as the Indian representative on the International Auditing Praotices Committee (IAPC).
(d) Shri Bansi S. Mohta, President of the Institute, has been appointed as tho Chairman of the Education Committee of the International Federation of Accountants.
2.2 Tba International Accounting Standard] Committee (IASC)
Tho Institute Continued to be a member of the IASC.
2.3 National Conference of the ICMA of Pakistan
Tho President and tho Secretary attonded on 28th to 30th November. 1981 the National Conference of Management Accountants organised by th0 Institute of Cost and Mana- gement Accountants of Pakistan.
2.4 Offer of assistance to neighbouring countries
During his visits to Pakistan and Nepal, the President made offers to the professional bedics in ihcsc countries for providing assistance ni conducting educational prrgrammes
2.5 Confederation of Asian and Pacific Accountants (CAPA)
(a) Shri Bansi S. Mohta (President of the Institute ) conti- nued as the Indian representative en Education sub-cemmittoe CAPA.
(b) Iniia continued to be represented on the CAPA,Exccuiivc Cimmittoa. Tho 13th meeting of the Committee was held in NdwDjlh ion 5 th and 6th November, 1981 which was attended by the President of CAPA and members of the committee re- presenting the accountancy bodies of Philippines, Australia, Hong Kong, Japan, Now Zoaland, Singapore, U.S.A. and India,
2.6 10th CAPA Conference
(a) Venue and Dates
An already rep irted, thg Institute of Chartered Acci untants of India and the Institute of Ccstand Works Accountants of Iniia (ICWAI) will jointly host the 10th CAPA CJnfercnoe in New Delhi from 21st to 25th November, 1983,
(b) Conference Committee
A Cjifore^icc CjmrniUoe consisting of representatives cf ICAI and ICWAI has been appointed for conducting the C Miforonoo. Tha C inference Committee, in turn, has appointed the following committees to assist it in this tatk:—
1V Budget and Finance Ornmltlcc 2- Techrjioal Committee
3. Delegates Committee
4. Publicity & Publications Committee
5. Entertainment & Social Committee
TUo composition of tha Conference Committee and its consti-
tuent aommittecs Is given in Appendix III.
(c) Theme of the Conference
"Tha Aaoountant in Society" will be the them* of the con-
ference.
(d) Plenary Sessions and Technical Paperi
The conference will have three Plenary Sessions, each of which will discuss one topic. Each topic will be covered by two papers making a total of six papers for the conference, woven round tho theme of the conference.
The topics for tho Plenary Sessions and the subjects on whioh
papers will be prepared are given below:
Measurement
1. Measurement of Productivity 2. Social Cast Benefit Analysis
Management
1, Pricing Decisions 2. Managoment under Conditions of Uncertainly
Environment
1, Fiscal Policy for Economio Growth 2. Towards a more realistic Codo of Eihlos
2.7 XII International Congress of Accountants
(a) Tho Institute is sending a delegation led by Shri Ashck- Kumbhat, Vice-Prosidont, to the XII International Congress cf Accountants to beheld In Mexico City from 10th to 13th October,
(b) Shri P.M. Nariclvala, a past President of the Institute,
has boan invited to contribute a paper on "The Auditor in the Computer Environment" at the Congress.
3. PROFESSIONAL DEVELOPMENT ACTIVITIES
3.1 General
Thj foil awing paragraphs giveXto'ef roview of the profes- sional development activities of the various non-standing com- mittees of thj Institute during the Council year, that is 17th Sopterr.bor, 1981 to 15th Scpterrbar, 1982. The review does not inclulc tho activities of the period from 1st April, 1981 to 16th Septomber, 1981 which have already bee i included in the report for tho year ended 31st March, 1981. It does not also include details of tho activities of the Regional Councils and . their branches.
r
3.2 Accounting Standards Board
Tha Accounting Stan-lards Board finalised three more stan- dards— "Cjntinaoncies and Events Occurring After the Ealanco Sheet D.Uc" (AS 4), "Prior Period and Extraordinary Hems and Clia^gos in Ace >uiting policies" (AS 5) and 'Depreciation Ace junting" (AS6) during tho year. It would bo recalled that thoB^ard hai alrealy issued, in the earlier yoars, the folk wing docum"nts:——
(a) Preface to the Statements of Accounting Standards which outlines the scope anl functions of tho Board, the socp© of Accounting Standards and the procedure of their formulation and implementation— January, 1979.
(b) Accounting Standard-1, on "Disclosure of Accounting
policies" (AS-1>- November, 1979.
(c) Accounting Standard-2 on "Valuation of Inventories"
(AS-2)-June 1981.
(d) Aoc^unting Standard-3 on 'Changes in Financial Posi-
tion" (AS-3)-June. 1981.
30 THE GAZETTE OF INDIA : EXTRAORDINARY [PART III—SEC. 4]The 8 iar:l ha j ih 3 finalbii a draft Guidance Note on 'Terms Used in Financial Statements" which has been circulate* anicng selected b jdies for their comments. It is proposed to issue the guidance note after taking into c'-'nslcxraticn the comment
received,
A Discussion Draft on "Accounting for O.-nslmction Con- tracts" has baen finalised fur restricted circulation and c°mment. After taljing into c .mslderation the comments received, an Ex- posure Draft on the subject will be issued for public comments.
A draft standard on "Aw muting for Research and Deve.
Ijpmcnt Aoilvitlos" is under formulation by the Board,
With a view to help the members in adopting the standards in thu p l a n t a t i on and preparation of financial statements, the Board h currently engaged in the preparation of Guidance N">tos on the twa definitive standards on "Disclosure of Accoun- ting pjltcics" (AS-1) and "Valuation of Inventories" (AS-2).
3.3 Company Law Committee
(.a) The Committee organised a f wo-day Residential Course for the first time on 'Aspect of Company Law' at Saw y Hotel, Mu3s:iorie in May, 1982 to provide a forum far a in-depth dis- cussion of important procedural aspects of Company Law.
(b) The rdvised cditio.) nf the Guidance Nito on Companies (Acceptance of Deposits) Rubs, 1975 has boon finalised and the same is under print.
(c) The Study Or-up constituted to prepare the Institute's reoarnmendations regarding simplification of Companies Act held 3 moorings in Now Dolhi and considered varicus aspects of the Companies Act.
(d) At the instance of the Capital Issues Advisory Committee which iaBi"eatly_cr>n:evnod with the phenomenon of high servicing cost of shareholder incurred by companies, tho Jnstilulc under- took a study on how it could bo kept at a reasonable level. It hold a series of Workshops in the metropolitan cities of New Dolftl, Madras, Bomaby and Calcutta on 2j3th Feburary, 198^, 27th March, 1972, 8th April, 1982 and 26th May, 1982 respecti- vely. A report based on the discussions at the Workshops is bjinapliu-eibif're tho A ivisoryCommittoo for its consideration.
3.4 Editorial Board
(a) The Journal 'The Chartered Accountant1 continued to be supplied free of charge to members. The annual subscrip ion rates of Rs. 15/-for Aniclcd/Audii Clerks fnd Commsrcc Gra- duates studying in colleges and Rs. 50/- for others remained unchanged during the year.
(b) A special issue of the Journal wae brought out in July
1982 in connection with the centenary meeting of the Council.
3.5 Employment Committee
(a) The number of members on tho Employment Register
was 350 as on 31.3.1582 as agaimt 332 as on 31.3-1981.
(b) 40 organisations utilised the information furnished from the Employment Register during the year. On n request from the INDHCO Group, Zambh, applications were invited from the numbers for senior positions in the group. About 200 applications were received and the same were forwarded to tbo group headquarters for their consideration and selection.
(o) Letters wsre addrcssad to the Life Insurance Corporation of India, the nationalised banks and the public sector under- takings, bringing to thsir notice tha advantages which accrue by the continued association with the Institute of members in their employment. It was stressed that It was in the employ- ers own interest that the members should continue their member- ship so that the employer has full protection afforded by the disciplinary code applicable to the members.
(d) For the benefit of members interested in assignment! abroad, an announcement giving details for purpoess of regis- tration with the Ministry of Horn; Affairs, Department of Personnel and Administrative Reforms, W.LS published in the Institute's Journal for April, 1982.
(o) The Committee i ni tiated a survey about Chartered Accou- ntants employed in various capacities in important organisations and the pay structure at different levels in order to assess their present prospects and future requirements of Chartered Accoun- tants.
(f) Representations were made to the Public Service Comrai- .ssions and the Public Enterprises Services Selection Boards of tho State Governments to include representatives of the Institute on selection boards constituted for recruiting persons for accounts and finance positions in Government Departments/Undertakings. 10 Public Service Commissions have accepted the suggestion.
3.6 Ethical Standards Committee
(a) The booklet, "Professional Ethics—Short Notes on High Court Djdsions" w.is revised during the year. The revised booklet contains an Index of alphabetical list of cases digested indicating whether a particular case was decided by the High Court or by the Council and also indicating the Volume Nos. and pago reference of the "Disciplinary Cases" and the Journal, wherein the full text was reported.
(b) Since difficulties were pointed out by member* in dis- charging the statutory obligation of communication with the previous auditor as required under clause (8) of Part I of the First Schedule in the case of publ.c sector corporations, repre- sentations were made to the Comptroller & Auditor General of India and the Department of Banking, Govt. of India that appointments of auditors in public sector undertakings and the nationalised banks should be made early in order to enable the members to meet tho prefossional obligation. It wag alfO represented that in cases whore there was no time to wait for the reply from the outgoing auditor, the incoming auditor might be allowed to give a conditional acceptance of the appointment and commence the work which needed to be attended to immedi- ately making it clear to the clients that his acceptance of the audit would follow later, after ho had been able to communicate with the previous auditor in. accordance with the ethical rules of behaviour.
(c) World Bank authorities were approached to intimate whether they were maintaining panels of Chartered Accountants and other financial experts for allotment of work in connection with project evaluation, feasibility studies, project reports information systems etc. On a report received from the World Bank that a Panel of Consultants was main- tained by them, an announcement was made In June 1982 issue of the Journal of the Institute about the existence of the Panel,
3.7 Expert Advisory Committee
(a) Since, the last report in September, 31 fresh queries were received. Out of 43 queries, including 12 queries carried forward from last year, 33 queries have been answered, 4 are under finalisation/consideration and six have been sent back to the querists for clarification.
(b) The advisory Service Rules of the Committee have been revijad and published in August 1982 issue of "The Chartered Accountant",
tc) The "Compendium of Opinions" containing al! opinions of the Committee upto S^ptetibsr 1581, along with a detailed subject index, has been published.
3.8 Post Graduate Course Committee
(,a) Under the ContinuingE-lucationProgrnmms, the fillow- ing Seminars and Courses w^r; organised during ths year :•—
3!
(c) Examinations of Corporate Management Couraa were
held in November 1931 nni May 1 '1R2. The summarised results of the examinations held in May 1981, November 1981 and May 1982 are given in Appendix V.
IO) Merit Scholarships of Rs. 500/- each were graatcd to 10 candidates for purchase of books under tho incentives sohctno of the Mana^m ;nt Accountancy Course.
Dute.1
place
Programme
Kanpur
(.i) Seminar on 'Tax Planning and Project Evaluation1
(e) Susge^ied Answers to tbi-, questions s.-t for Group I of the Management Account iiucy Course (P.itt I) examinations held in M'.y 1980 and Nov. 1980 were published.
10th & 11th
Oct. 1981
(f) Sinca S;pt:m'iir 1981 4 issues of the Management and
14th & 15th
Calcutta
Nov, 1981 (li) Seminar on 'Management Information Systems and Role of EDP in Business'
Agra
8th & 9th Dec. 1981 (iii) Residential Course on 'Cost and Financial Management' in collaboration with the Institute of Cost & Works Accountants of India.
Ludhiana 17th Jan. 1932.
(iv) Seminar on 'planning and Reporting for New Indus- tries'
NswD^lhl
(v) Programme on 'Financial
1st to 20th Fcb, 1982 Management and Manage- ment Accounting'
Bombay
6ih & 7th Fcb. 1982 fvi) Seminar on 'Aspects of ExciseDuty, Customs Duty and FBRA'
Jaipur
Economic Quarterly have been brought out,
(s) ShriK. Shivakuniar(M. No. 9305) successfully completed his practical training and was grantod the certificate inForm '31'. Ho also passed the M-J-nag2m;nt Accountancy examination under Part I held e ixlier. Thus ho c^nybted both parts of the course.
(h) The number of participants registered for practical training undtr Part II of th^ Managomjat Accountancy Course during the financial y^ar wis 14.
3.9 Professional Development Committee
(a) Thj Committee published a n>te on 'professional Oppor- tunities for m;mb;rs—an Appraisal' highlighting the opportu- nities availablo to tho members and the new opportunities being explored by the Institute as supplement to the January, 1982 issue of the Journal.
13th & 14th
Fcb. 1982
(vii) Seminar on 'New Dimen- sions of Financial Manage- ment'
(vJii) Residential Course on 'Cor-
15th to 20th
Kathmandu
March, 1982 porate Financial Manage- ment' In csllaboration with th- All India Management Association
N;wD:lhi .12nd-to 25th M'.rch, 1982 (ix) In-house programme on 'Financ; for Non-Flnanc; EMCutlves'forSTC
(x) Seminar on 'New Dim;n- B:>mb\y
sion3 of Auditing'
(b) The Committee brought out a well designed booklet called the 'Chartered Accountant and the Society' giving infor- mation on the Chartered Accountant's role in the society. As a collective publicity document, tho b joklet was widely circulated among th; users of th; services of chartered accountant viz. chambers of commerce & iadushy, lo'iding companies, bMiks and various departments of Central & State Goveninants.
(c) The sub-committee of the Professional Development Committee on 'Internal Audit' finalised a statement on Internal Auditing dealing with the basic nature of the function of Internal Auditing which has acquired a great deal of significance in recent yoars.
10th & 11th
April, 1982
Calcutta
17th & 18th
April. 1932
(d) The Committee also constituted a sub-committee to discuss the whole gamut of Import/Export Certification with tho Import/Export Trade Control Authorities and to issue guidelines to members on various types of certificates proscribed by the authorities. The sub-committse has considered the various issues and has drawn up a detailed plan of action.
n THE GAZETTE OF INDIA : EXTRAORDINARY [PART III—SEC. 4]ethics and othir related matters as they affect the members in service.
(j) To consider the ways and means to enhance the partici- pation of the members in service in the affairs of the Institute."
The sub-committee would consist of six members drawn as
follows:—
(1) two members of Professional Development Committee one of whom whould be the Chairman of the said Committee;
(2) two members from Employment Committee, one of whom would be the Chairman of the said Committee and the other the Co-opted Member of the committee from Industry; and
(3) two members from Industry outside the above mentioned two committees; one of whom would be from senior managerial level and the other from the middle level.
3.10 Research Committee
(a) The following Research Studies/Guidance Notes were
released during the year:—
(i) Research Study on "Precedents In Published Accounts",
(ii) Research Study on "Accounting and Control Systems In
a Shipping FCompany",
(iil) Guidance Note on 'Treatment of Reserve created on
Revaluation of Fixed Assets".
(b) The following publication/Guidance Note wore revised
and released ; :—
(i) Guidance Note on "Issue of Bonus Shares", (ii) Note on "Independence of Auditors" appearing in the
Compendium of Notes.
(c) the following are in the process of publication/printing:— (j) Guidance Note on Accountants Report on Profit Fore-
casts and/or Financial Forecasts.
(ii) Exposure Draft on Accounting Treatment of Reserves in
Amalgamations or Mergers.
(iii) Guidelines on Duties and Functions of Internal Auditors
engaged in Jute Industry.
(iv) Monograph on Accounting for Rubber Plantations,
(v) Monograph on Accounting for Agricultural Operation,
(vl) Monograph on Accounting for Livestock.
(d) The following have been finalised by the Committee and
will be released shortly:—
(i) Guidance Note on "Accounting for Changing Prices in
Financial Statements."
(ii) Research Study on Project Evaluation in the context of
Requirements of Indian Financial Institutions.
(iii) Research Monograph on Zero-base Budgeting and the
feasibility of its introduction in the National as well &S Enterprise Budgeting.
(e) The following Study Groups/Sub-Committce were
formed :-
(i) Study Group at Calcutta to prepare a Paper on "Use of Financial Information for determination of Sickness in Industry".
(ii) Study Group at New Delhi to study certain important issues relating to accounting and auditing of banks in India.
(iii) Sub-Committee at Bombay on "Letters to Manage-
ment on Material Weaknesses".
(f) A sub-committee of the Research Committee was consti- tuted by the Council for the purpose of preparing initial responses on ihe exposure drafts/statements issued by various international bodies such fs Inleinrtionil Federation of Accountants (IFAC), International Accounting Stan- dard? Committee (IASC) and the Confederation of Asian and Pacific Accountants (CAPA). Accordingly, the sub- commit- tee submitted its comments on the various documents on the basis of which the final comments of the Institute were forwarded, (g) The Institute's views on the following questionnaires/ drafts Cost Records Rules issued by various Government De- partments were forwarded to the respective Departments,
(i) Questionnaire on "Treatment for Valuation of Second hand Machinery" issued by the Directorate of Inspec- tion & Audit, Customs .and Central Excise.
(ii) Questionnaire on "Financing of the Private Corporate Sector in the Sixth Five Year Plan" issued by a Study Group of the Planning Commission,
(iiO Draft Cost Accounting Records (Steel Tubes and Pipes)
Rules, 1981, and
(iv) Draft Cost Accounting Records (Electrical Conductors) Rules, 1981 issued by the Department of Company Affairs.
(h) Projects on hand :—
(i) Guidelines on "Puties and Functions of Internal Auditor
engaged in Plantation Industry",
(ii) Draft Industry-wise Guidelines regarding "Duties and Functions of Internal Auditors" engaged in Textile and Sugar Industries. L
(iii) Guidance Note on "Audit Reports for Special
poses",
(iv) Statistical Sampling Techniques—An Aid t udit
Practices,
(v) Guidance Note on "Audit Report to be submitted
under Section 72A of the Income-tax Act",
(vi) Guidelines on "Valuation of Unquoted Shares",
(vii) EDP and Auditors,
(viii) Accountant's Guide to Central Excise Duty.
(i) Shield Panel:
Awards for the Best Presented and Highly commended* Accounts of Companies and Financial Institution for the Best Presented Competition for the year 1980-81 Cement Corporation of India Limlted^-Silver Shield (for the year ended 31st March, 1981) Bharat Heavy Etectricals Limited—Plaque (for the year ended 31st March, 1981) Engineers India Limited—Plaque (for the year ended 31st March, 1981) Escorts Limited—Plaque (for the year ended 31st December, 1980)
Separate Annual Competition for the Best Presented Accounts of Financial Institutions 1980-81
Industrial Development Bank of India—Silver Shield for the year ended 30th June, 1980)
3.11 Taxation Committee
(a) Five seminars on Tax Planning, each of two days du- ration; were held at Indore, Madurai, Gwalior, Trivandrum and Nagpur.
(b) A one day taxation course was held at Asansol. (c) The 14th All India Seminar on Taxation was held at Ppona on 12th and 13th June, 1982 with" "Tax Laws: Some Important Areas" as its theme.
•The list of Co.njamo} whose accounts h^vo been .highly commeadei is alphabetical and it does not denote any ranking on. the basis of merit.
33(d) As usual pre-Budget and Post Budget memoranda
were submitted to (he Finance Minister.
(e) The*Institute submitted a memorandum on 'Simpli- fication of tax laws' to the Economic Administration Reforms Commission on 8tli December, 1981.
(f) It submitted a memorandum to the Estimates Committee of the Parliament and tendered oral evidence before the Com- mittee 'on matters concerning assessments under the Gift-tax, Wealth-tax and Estate Duty Acts.
(g) It submitted to the Central Board of Direct Taxes a memorandum on the draft Wealth-tax (Amendment) Rules, 1981. Representations on a number of other relevant subjects were also submitted to the Central Board of Direct Taxes.
(h) A revised edition of the 'Guide to Tax Audit' was brought out. Two publications—'Taxation of Non-residents' and 'A Guide to Audit of Public trusts' were reprinted.
(i) The Institute appeared as an intervenor before the Special Bench of the Income-tax Appellate Tribunal constituted at Bombay to hear cases involving the issue of Wealth-tax liability on outstanding professional fees. The Special Bench has since delivered a judgement in favour of the assesses.
3.12 University Liaison Committee
(a) Endowments: During the year endowment were made to three Universities for the award of prizes to the students securing the highest marks in the Accountancy paper at tbo B. Com. examination, Tho first endowment of Ra. 4,000/- was made to the Gujarat University, Ahmedabad, of which Rs. 1,000/- was contributed by local Chartered Accountants. The second endowment of Rs. 10,000/- was made to the Nagarjuna University, Guntur to which local Chartered Accountants con- tributed Rs. 7,000/- A third endowment of Rs. 3,000/- has also been sanctioned for being given to the Vikram University, UJjain for the same.purposc.
(b) Sominars: Three seminars were hold during the year— one at Guntur in collaboration with tho Nagarjuna University in September, 1981, the second at Baroda in collaboration with the M.S. University in August, 1982 and tho third at Kolhapur in collaboration with the Shivaji Univo^sity in September, 1982.
(c) Career Digest: A not© was prepared for Career Informa- tion Series published by tho Ministry of Labour, Government of India, in regard to the professional course of Chartered Accountancy giving up-to-date information in regard to tho role of chartered accountant, the mode of onti y and the courses proscribed for tho various examination? conducted by tho Initl- tute with other relevant information.
(d) Profile of the Profession: A brochure entitled "Profile of tho Profession" prepared by tho Institute was sent to nearly 1500 institutions including University Departments of Com- merce and Dogi'oo Colleges, imparting education in Arts, Science and Commerce all over the country.
3.13 Committee for dealing wHa ones of Unjustified Removal
of Auditors
(a) The Committee is glad to report that its existence had a salutary effect in that on receipt of the communication from tho outgoing auditor as prescribed in the guidelines issued by the Council, the inooming auditor did not accept tho assignment in one case.
(b) In a case which was brought to the notice of the Commit-
tee,
(i) the annual general meeting of tho con-many convened validly was adjourned without adoption of the annual accounts or appointment of auditors;
727GI/82-5
(Tl) at tho adjourned meeting of the company a- notloe to t
the appointment of new auditors was received and considered; and
(iii) new auditors were appointed in the place of retiring
auditors at the adjourned meeting.
in this connection, attention of the members was invited to the guidance note Issued by the Council under clause (9) of Part I of tho First Schedule to the Chartered Accountants Act 1949 under which it was stated that if any annual general meeting was adjourned without appointing an auditor, no special notice for removal or replacement of the retiring auditor rocoived after the adjournment could bo taken note of and acted upon by the Company, since in terms of Section 190(1) of the Companies Act, special notice should be given to the Company at loast fourteen clear days before the meeting in which the subject matter of the notice was to be considered. The meeting con- templated in Section 190(1) undoubtedly was tho original meet- ing.
(c) The Counoil decided that the Committee should confined itsolf to complaints of unjustified removal in the case of appoint- ment of auditors under the Companies Act. The Council also decided that tho Committee need not deal with the cases of com- plaints of unjustified removal, where the removal, was carried out by the Central Government. The complaints in respect of appointment under other statutes as well as non-statutory appointments would be rocoived by the Committee in order that sufficient data was gathered for consideration of the Council.
4. OTHER MATTERS
4.1 Committee on Public Relation*
The Committee on Public Relations undertook several rT 0" grammes to promote a bettor understanding of tho function; of the Instituto and project a better image of the profession,
(i) A brief summary of the Annual Report for tho year ending 31st March, 1980 was published in several lead- ing newspapers.
(ii) A Guidance Note setting out the tenns of referonco of tho regional Public Relations Committees was fina- lised and forwarded to all tho rogions for their use, (iii) Translation of tho publication entitled "Chartered Accountant and Society" into regional languages was taken up and copies distributed through the Regional Councils.
(iv) On the occasion of the centenary meeting of tho Council of tho Instituto publicity was given in leading news- papers to the progress achieved by the Institute in the last three decades.
(v) Tho Committee was alive to the comments appearing in tho Press about the profession and respondent to such comments, wherever required,
(vl) Tho Exooutivo Committee of the Council passed a resolution expressing concern on the alleged murde' in Dhanbad, of the audit assistant of a firm of Char-, tered Accountants while on a professional assignment and urged tho authorities to give full protection to tho life and property of chartered accountants and thoir staff while engaged in professional work. Copies of the resolution were sent to the appropriate autho- rities in the Government of India and the Comptroller & Auditor General of India, voicing the concern of the Institute over this unfortunate incident.
34 THE GAZETTE OF. INDIA : EXTRAORDINARY [PART III—SEC. 414.2 Review Committee
(a) The Council at its 97th meeting held in Septembo", 1981 appointed a Review Committee The te ms of reference of the Committee were :
(1) to indentify tho aims and objective* of the Institute, having regard to the governing statute and icgulations and the current and evolving environment in which the profession operates.
(if) with a view to hotter subscivc the foiegoing aims and objectives, to bioadly review the plans, o-ganira- tion practices and proceduies of the Institute (exclu- ding education and tjainir.g r.?i\ UM.
(b) The Review Committee recoidcd the evidence of some of the past Presidents, Crai' men of ihe Rogional Coun- cils, chaiimen of the Branches of tho Regional Council find senior officers of the Institute.
(c) The report of the Committee is undc considc ation of the Council. (To give salient features of the lepoit, when ready),
4.3 Coordination Committees
(a)(l) The Co-ordination CommitUe composed of the representatives of the ICAI and ICWAI has made further progress during the year in extending areas of Cooperation between the two Institutes. Tho areas of cooperation agreed upon wore :—
(i) Identifying areas of research On subjects of common
interest to ihe two Institutes;
(ii) Jointly cariying out changes in the regulations of the respective Institutes fur consultancy wo,k like relaxation for partnerships, lelaxation in corpoiatc form for rondcring professional services, relaxation for member;, abroad etc.;
(iii) Extension of libraiy frailties 1o membeis and
students of the eithei Institute.
(b) (2) The following thrco courses were oigsnised in
collaboration with the ICWAi :
—Course on "Management Accounting" on 23rd
24th May, 198 at Bjmbny.
—Residential Cour>e on "Cost & Financial Management"'
on 8th & 9th Dcccmtxr, 1981 at Agra.
—Course on "Cost and Financial Management" on
17th & 18th April, 1982 at Calcutta.
(3) A sub-committee composed of the representatives of
the ICAI & ICWAI ws formed to follow up with the concerned Ministries of the Central Government, proposals for a joint delegation of the two Institutes to -visit countries in Middle East, Africa and South East Asia.
(4) The ICAI & ICWAI A'e jointly hosting the lOih CAPA Conference to too hold in New Djlhi in November 1983, the details where of ai e gi\ en \<\ Section 2.6 of this icpoit.
(b)(l) the Co-o. dination Committee composed of the veprwen
tativea of the ICAI & ICSI continued to function.
(2 ) A Course on "Company Amalgamations and Merge.s" was organisod on 27th & 2Kih June, 1981 at New Delhi in collaboration with ICSI A Course on "Aspects of Corporate Laws" was organised in collaboration with ICSI on 10th & 11th July, 1982 at Bombay.
4.4 Annual Meeting of the Institute
The 32nd Annual Meeting of the Institute was held on 16th Soptembo.-, 1981 at New Delhi, shri L.K, Jha; Chairman, Economic Administration, Reforms Commission, was, the Chief Guest at the function. He presented shields and plaques to the companies which had given their entries in the contest for best presented accounts, and piizes and Medals to the mo itorious students in the examinations of the Institute.
4 5 Library
During the year 570 books wore added to the Central Council Library at New Delhi bringing the total num.be/ of books to 18,229. Increasing use of the library was made by members and students.
4 6 Representation on outside Bodies
Appendix VI gives details of the Institute's representation
on outside bodies.
4.7 Members In Important positions In different walks of life
Members of the Institute, on account of their high degree of expertise and knowledge in tho field of accounting and finance, have come to occupy vey Important positions in different walks of public life, such as legislative bodies, public financial institutions, nationalised and other banks, educa- tlonals institutions and local authorties.
4.8 Chartered Accountants Benevolent Fund
The Membership df tho Fund increased from 1928 as at 3lst March, 1981 to 1944as at 31st Match 19S2, A s t m rf Rs.34,000 was disbursed during the year to members in distress or tho families of deceased members. The balance to the credit of the fund as at 31st Mach 1982 was Rs. 174,634 app. as against Rs, 1,69,360 as at 31st March 1981,
4.9 S. VaWysnMh After'Memorial Fund
The membership of the Fund increased from 131 as at 31st March, 1981 to 133 as at 31st March, 1982. An amount of Rs.5000 was disbursed during the yoar by way of scholarships to students. As at 31st March 1982, the balance to the credit of the Fund was Rs. 47,678 as against Ri. 43,598 as at 31st March 1981.
4.10 Celebration of 100th Council Meeting
(a) The lOQth meeting of the Council was inaugurated on 22nd July, 1982 at Vlgyan Bhawan, Now Delhi by Hon'ble Sh'-i J.N. Kau-.hal, Union MMsle- of Law, JusticeandCom^nny ArTai-s, Shi G.C.B. Vijaysingho, the P.osidont of the Institute of Cha' te ed Acountanis of S i Lanka, the President of sister institutes of Cost & Work Accountants of India and Company Secretaries of India, past Picsidcnts of our Institute and the past Secretaries of our Institute, attended the function by special invitation.
ft>) To mark the occasion, a commemoration dinner was arranged on the evening of 22nd July. Shri N.A. Palkhivala was the guest speaker. The P esident of the sister accountancy body in Sri Lanka, past P. esident and past Sec- retaries of the Institute, past Council membe s, a Member of Parliament, officials of the Company Law Department, C&AG and CBDT and rcpre?entati\cs of tho Prcss attended the dinner.
(C) The July 1982 Issue of the lTho Chat-tared Accountant'
was brought out as tpecial number.
354.11 Elections to the Council and the Regional Councils
The elections to the 12th Council and the 11th Regional Councils of the Institute wcic held in August, 1982. The names of the membo's elected have been notified in the Gazette of India and have also been published in "the Chartced Accountant".
5. MEMBERS
5.1 Membership
The Membership recorded an increase of 2,103 during the your, the total number of member being 27,541 as at 31st March, 1982 as compa'od to 25,438 as at 31st March 1981. During the yoar, 770 as-iociates we c admitted as follows as compared to 652 jFallj.v. adn' toi ii tho p'ovioui year. Appendix VII give; tho-details of the classification of the membership.
5.2 Roqulrmeit for a member being In charge of an office
Section 27 of the Chartered Accountants Act requires that every office of a Charte cd Accountant or a firm of such Clrarterld Accountants should bo placed in the separate charge of a membor of the Institute. Tho Council has passed a resolution that tho requirement of Section 27 of a member being in charge of an office of a Chartered Ajcounlant or a firm of such a Charte'ed Accountants shall bo satisfied only if the m?mbc. is actively associated with such ofTjce. Such association shall bo deemed to exist if tnf menibs' tesidos in the place wheret he office is situ- ated for a period of not less than 18- days in a yoar of if he attends the said office for a period of not less than 182 days in a year or insuchothei' circumstances as, in the opinion of the Executive Committee, establish such active association.
5.3 Disciplinary Action
B.ief details are given in Appendix VII of the disoiplinmy
mittors whoe o'de's have been mado since the last Report by tho High Court under Section 21 (6)..
5.4 Deceased Members
(a) The Council also records with deep regret the demiso during the year, of the nirnbe.s whose nanws aro listed in Appendix IX.
(b) The Coincil records with deep reg'.et tho sad demise on 6-1-1982 of Shri G. Basu, a past President of the lnstiluto and tho sad demise on 12-2-1982 of Shri M. R. Khanna, a member of the Council during 1958-61, The Council placed on record its deep appreciation of the se vices rendecd by Shi Basu and Shri Khanna to the Council and to iho profession.
(c) To meet the developmental needs of the Institute and its budgotary requirments, effective from 1st April, 1982, the fees payable by the members we c increased us under :—
(i) Associate Membe.s not in p.actice Rs,80
(ii) Associate Mombors in practice Rs, 255
(iii) Follow Members not in practice Rs. 200
(iv) Fellow Members in Practico Rs. 375
6, ARTICLED AND AUDIT CLERKS
6.1 Registration
The following arc in the figu es of articled and audit clerks rogistred during tho yo.ir ended 31st March, 1982 with tho corresponding figures for the previous year :—
1981-82 1980-81
Articled clerks 9,028 9,484
Audit Clerks
219 116 6.2 Amendm nts In the regulations regarding entry qualifications
and examinations,
Tho Council approved certain amendments in the Chartored Accountants Refutations to Imploniont the recommendations of tho Roview Committee for Accounting Education regarding entry qualification and tho syllabi of the examinations. Certain other amendments in the Regulations aonnected with thew subjects we o also approved. The draft amendments in tho Charto.od Accountants in this behalf are at presont awaiting tho approval of the Central Govornmont.
6.3 Stipend
Regulation 32B was amended effective from 1st July, 1982 providing that the stipend shall bo paid by a member to his articled cle/k either (i) by cronsed a/c payee cheque every month against stamped receipt to be obtained from the articled clerk; or (ii) by depositing tho amount eveiy month in an&ccount opened by the articled clork in his own name with the branch of the bank to be specified by tho member,
6.4 Board of Studies
(a) The number of students onrollod during the year ended 31st March, 1982 and tho corresponding figures for the previous year are as under :
Course
- 1981-82 1980-8
Intcrmodiate
9,247 9,600
Final-
3,020 3,277
Final (Old Syllabus) 37 120
12,304 1*1,997
The total nuirbor of students on tho rolls as at 31 March 1982 was 29,693 as against 27,413 as at 31st March 1981. Th-
i details oi such enrolment arc givon In Appenaix X.
(b) The first Academy of Accounting was established at Madras on 1st April, 1980. Tho Academy has successfully held oightsessiom. The ninth course at the Academy commenced from 1st March 1982,
The second Academy wat set up at Bombay from 1st Doc- ember, 1981. The Bombay Academy sucessfuily completed its first and second courses.
(c) Revision Classes for the Intermediate and Final Course Students woro, as" usual, conducted at Bombay, Calcutta, New Delhi, Madras and Kanpur and at other important centres.
(d) Regional Councils and their branches wero requestod to organise special couis^s in Business Maths, and Statistics, if neod bo, on a continuous basis. Tho Board undertook to bear a resonable amount of deficit In organising these classes Steps wero taken to strengthen the academic wings at the Central and Regional Offices by recruitment of additional academic staff for providing bottor and more effective service to students in different subjocts.
(o) During the year ended 31st March, 1982,14 Mei it Scholar- ships woro awarded to the student on the basis of their performance in the Intermediate Examination held in May and November 1981, Besides. 10 Merit-oum*N©od Scholarships; 213 Froo-ship and 184 Loan Scholarship were also awarded to the students during tho yoar under report, The Board also raised the maxi- mum Income limit of Rs. 7,500 per annum to Rs. 13,000/- for elogibility to apply for the grant of Freoships and Loan Scholarships under the "Chartored Accountants' Students' Scholarships & Freoships Sthemo, 1973".
36 THE GAZETTE Of* INDIA : EXTRAORDINARY [PART III—SEC. 4}(f) Tho Schema of answering test papers was made optional In respect of the Final Cougsc students and offoctlvc November '82 Examination, tho Eligibility Certificates would be issued on obtaining from the students a declaration to the effect— (a) that they had mado tho fullest use of tho study material; (b) t&at thoy had sought guidanco from the Director of Studios to the oxtent necessary in their day to diy studies; and (c) that they wore fully propared to take tho examination with confidence.
(g) Though the Board is not providing any correspondence course for the Entr mco Examination, it prepared study materia for the benefit of students appearing in that examination. Tho coiipl,fe. Set of s t u dy m a t e r i al w aa s o ld at a price of Rs. 75. This material has gained popularity among the students and dudna |lio y*4r 1854 sots w re sold as agaims 1150 in the previous year.
(h) The Board continued to mako regular contribution to ho Journal by giving a digest of Income-tax and Company
Casos and uihor current readings.
7 EXAMINATIONS
7.1 Examinations
(a) The Entranoe examination was held in June and Decem- ber, 1981 at various centres in ttw country. The Chartered Awountants Intermediate and Final Examinations under both tho syllabi (viz. Old and New) weio held as usual in Miy and November, 1981, at various centres all over India. The Statistics relating to tho number of candidates who appeatod and who were declearod successful are given in Appendix XL
(b) On a consideration of the representations received from tho candidates for the Intermediate examination under tho Old Syllabus (Schodule 'B'), it was decided that the candidates who had not exhausted 12 chance theoretically available to them be allowed to appoar in the Intermediate examination under Schedule 'BB' for tho Unexplred number of chancos after satisfactorily undergoing postal tuition, provided a period of 10 years had not elapsed from tho date of registration their articles.
(c) Tho groupwise oxemptions available to the eligible cand i
dates on "switching over to the Intermediate (New Syllabus) examination have already been notified vide Notification No. 1-CA (122)/80 dated 21-4-1982.
7.2 Prizes and Certificates of Merit
The names of candidates who were awarded prizes and certificates of merit in the examinations held in May and Novem- ber, 1981 are given in the Appendix XII
7.3 Action against Examinees
The Council debarred 7 candidates who were found to have resorted to or attempted to resort to unfair means from appear- ing hi the examinations, for varying periods.
7.4 New Centre for Examinations
A new centre for the professional examinations was opened
at Udaipur.
8. REGIONAL COUNCILS AND THEIR BRANCHES
8,1 Branches.
8.2 Professional Development Activities
Regular study circle meeting were hcM during the year by most of the Regional Councils and their branches. In addition, as many as 130 seminars/workshops and 45 other meetings were organised by the Regional Councils and their branches during the year.
8.3 Chapters of the Institute outside India
It was decided that chapters of the Institute be permitted to be set up in foreign countries in order to provide to the members living abroad a forum for discussing matters of mutual pro- fessional interest and to inculcate a sense of belonging to the Institute. A chapter can be set up in any overseas city having at least 20 members or in any country, which does not have any city with concentration of 20 members, if the number pf Mem- bers in a country is not less than 50. Pursuant to this decision a ^chapter of the Institute was established In Doha (State of Qatar) "during th" year.
9. FINANCE
9.1 Accouats
The Balance Sheet as at 31st March, 1982 and tho Income and Expenditure Account for the year ended on that date were approved by the Council at Its meeting held in September 1982. The Income & Expenditure account shows a deficit for tho year j>f Rs. 9,01,813 as against a surplus of Rs. 12,39,083 in the preceding year.
9.2 Capital Expenditure
Additional floors were added to the Institute's buildings at New Delhi and Calcutta. The Institute's building at Bombay was partially reconstructed.
10. APPRECIATION
(a) The Council is grateful to all members of the Institute who functioned as co-opted members on the Institute's com- mittees and all members and non-members who have assisted the Council during the year in the conduct of its educational, examinations and technical activities.
(b) The Council wishes to record its appreciation of the continued assistance and support of the Government and of its nominees on the Council, throughout the year.
(c) The Council would also like to acknowledge its appre- ciation of the sincere and devoted efforts put in throughout the year, by all the officers and staff of the Institute.
11. STAFF
The Council wishes to record its appreciation of the mature and constructive attitude displayed by the executives of the Employees' Association, Cordial relations were maintained with the-staff ttftOughbut the year.
P.S. Goaplakrishnan Ashok Kumbhat Bansi S. Mehta
Secretary Vice-President President
. Subsequent to the last report, two branches "of Western India Regional Council at Kolhapur and Nasik, four branches of Southern India Regional Council at AUeppey, Calicut Guntur and Mysore and one branch of the Northern India.Regional Council at jullundur, were set up.
New Delhi. Dated 13th September, 1982
Appendices to the Annual Report
APPENDIX I
Shri V. Jagadisan Madras Shri S.M. Dugar New Delhi Shri P.K. Seth Kanpur
(Ref. Para 1.1 of the Report)
(b) NON-STANDING COMMITTEES
MEMBERS OF THK COUNCIL
(1981 to 1982)
Research Committee
MEHTA BANSI S.
President
ASHOK KUMBHAT
Vice-Prestdent
Shri A.C. Chakrabortti, Chairman Calcutta
Shri S. Prabhakaran, Vice-Chairman Cochin
Shri V. Rajaraman, President (ex-officio) New Delhi
Shri P.N. Shah Bombay
Shri K.G. Somani New Delhi
Chakrabortti, A.C. Calcutta Shri Y.H. Malegam Bombay
Chakraborty, A.K. Calcutta Shri S.H. Talavlikar Pune
Dadhe, V.G. Pune Shri B.M. Mirza Bombay
Das Gupta, S.K. Calcutta Shri Rajendra S. Lodha \ ,,.n nt .. Calcutta
Dr. Abhijit Sen > to-opted) Calcutta
•Dugar, S.M. New Delhi
•Gangadharan, P.P. (upto 24-7-1982) New Delhi
Jagadisan, V. Madras Post-Graduate Course Committee
Jain, I.e. Bombay Dr. R.C. Vaish, Chairman Kanpur
Jain, N.K. Delhi Shri S. Prabhakaran, Vice-Chairman Cochin
Khanna.P.R. New Delhi Shri Bansi S. Mehta, Vice-President (ex-officio) Bombay
•Kuruvilla. O.V. (upto 24-9-1981) New Delhi Shri N.P. Sarda Bombay
*Lodha, Rajendra S. (from 25-9-1981) Calcutta Shri V.G. Dadhe Pune
Malegwn, Y.H. Bombay Shri A.C. Chakrabortti "1 , n n t f l r i, Calcutta
Nalr, P.A. Bombay Shri H.M. Damanta / (c°-°Pt e d) Bombay
Narayanaswamy, G. Madras Dr. R Rajagopalan New Delhi
Patel, Manubhal G. Ahmedabad
Prabhakaran, S. Cochin Professional Development Committee
Rajaraman, V. New Delhi
Shri A.K. Chakraborty, Chairman Calcutta
*Ramanujam, G. Madras
Shri N.P. Sarda, Vice-Chairman Bombay
Sampath Kumaron, P.T, Madras
Sarda,-N.P. Bombay Shri Bansi S. Mehta, Vice-President (ex -officio) Bombay
Shri P.P. Gangadharan New Delhi
Seetharatnaiah, D. Hyderabad
Seth, R.K. ShriAshokKumbhat Madras
Kanpur
Shah, P.N. Shri N.K. Jain 1 /r rl nntl,^ Delhi
Bombay Shri V.B. Haribhakti / (co-opted)
Singhi, Jaislng Calcutta Bombay
Shri K. Ganesan Calcutta
*Sinha, I.B. (Dr.) Lucknow
Somani, K.G. New Delhi
Taxajlon Committee
*Subramaniam, N. (from J 8-11-1981) New Delhi
Shri P.A. Nair, Chairman Bombay
Surl R.C. (from 25-7-1982) New Delhi
Shri N.K. Jain, Vice-Chairman Delhi
*Ta1avllkar, S.H. (upto 24-9-1981) Punc
Shri Bansi S. Mehta, Vice-President (ex-officio) Bombay
Vaisb, R.C. (Dr.) Kanpur
Dr. R.C. Vaish Kanpur
•Wasiq All Khan (25-9-1981 to 17-11-1981) New Delhi
Shri D. Seetharamaiah Hyderabad
'Nominated by the Central Government Shri Jaisingh Singhi \ fco-ooted) Calcutta
Shri H.P. Ranina / lc°-°pted) Bombay
APPENDIX II Shri Sukumar Bhattacharya Calcutta
(Ref para 1 1 of the Report)
(MElMBFRS OF THE VARIOUS COMMITTEE) Board of Studies
(1) April 1981 to September 1981 Shri G. Narayanaswamy, Chairman Madras
Shri N.P. Sarda, Vice-Chairman Bombay
(a) STANDING COMMITTEES
Shri V. Rajaraman, President (ex-officio) New Delhi
Executive Committee
Shri A.K. Chakraborty Calcutta
Shri V. Rajaraman, President New Delhi
Shri N.K. Jain Delhi
Shri Bansi S. Mehta, Vice-President Bombay
Dr. I.B. Sinha Lucknow
Shri Y.H. Malegam Bombay
Shri Anil M. Parikh \ (co-opted) Bombay
Shri S.K. Das Gupta Calcutta Shri D. Rangaswamy /
Madras
Shri AShok Kumbha t Madras
Examination Committee Employment Committee
Shri V. Rajaraman, President New Delhi
Shri N.K. Jain, Chairman Delhi
Shri Bansi S. Mehta, Vice-President Bombay
Shri S.K. Das Gupta, Vice-Chairman Calcutta
Shri D. Seetharamaiah Hyderabad
Shri Bansi S. Mehta, Vice-President (ex-officio) Bombay
ShriJaisingh Singhi Calcutta
Shri P.T. Sampath Kumaran Madras
Shri K.G. Somani New Delhi Kanpur
Shri R.K. Seth
Disciplinary Committee
Shri M.G. Patel Ahmedabad
Shri V. Rajaraman, President New Delhi Shri P.J.Mi Panikar \ (co-opted) Bombay
Shri Bansi S. Mehta, Vice-President Bombay Shri A,S. Bhandari f New Dehli
38 THE GAZETTE OF INDIA : EXTRAORDINARY [PART III—SEC. 4]
Expert Advisory Committee Shri O.V. Kuruvilla New D-'lhi
Shri P.A. Nair Bombay
Stiri I. C.JJain, Chairman Bombay Shri S. Prabhakaran Cochin
Dr. R.C. Vaish, Vice Chairman Kan.-ur Shri P.P. Gaa3a.iharan NcwD.lhi
Shri Bansi S- Meht.i, Vic- President (ex-officio) Bombay Shri P.M. N-riolvUa 1 Calcutta
Shri V. Jagadisan Bombay ShrlS.V. Ghatalia BomMy
Shri N.P. Sard* Bombay Shri M.P. Wadhawan • ^(co-opted) New Delhi
Shri Arun Ganihi | Bombay
Shri S.K.D.is Gupta Calcutta
Shri Raj;ndraS. Lodh^ j Calcutta
ShriN.T. D-ilal \(co-optod) Bombay
Shri H.B. Dhondy / Bombay
Committee on Public Relations
Company Law Committee Shri V. Rajaraman, Chairman New D;lhi
Shri Bansi S. Mehta, Vice Chairman Bombay
Shri P.R. Khinna, Chairman New Djlhi
Shri A.K. Chakrabarty Calcutta
Shri P.T. Sampaih Kumaran, Vice Chairman Madras
Shri P.T. Sirnpath Kumaran Madras
Shri V. Rajaranvm, President (ex-officio) New Delhi
Dr. R.C. Vaish Kanpur
Shri I.C. Jain Bombay
Shri P.R. Khania New D J hi
Shri S.M. Digar NjwD;lhi
Shri Jaisingh Singhi Calcutta Committee for Uniustliled Removal of Auditors
Shri M.G. Patel Ahm.-dabad
Shri Channjit Singh \(ce-opted) NewD Ihi Shri V. Rajaraman, Chairman New D;lhi
Shri H.K. Bilpodiwala / Bombay Shri Bansi S. Mehta, Vice Chairman Bombay
Shri S.M. Dagar NewDjihi
University Liaison Committee
ICAHCWAI Co-ordination Committee
Shri V.O. D dhe, Chairman Pane
Shri P.T. Sampath Kumaran, Vice Chairman Madras Shri V. Rajaramin, Leader New D;lhi
Shri Bansi S. Mehta, Vice President (ex-officio) Bombay Shri Bansi S. Mehta, Deputy Leader Bombay
Shri Jaisingh Singhi Calcutta Shri A.K. Chakraborty Calcutta
Dr. I.B. Sinha Lucknow Shri P.N. Sh^h Bombay
Shri A.D. Shlndc \(co-opkd) Kolhapur Shri D. Se^tharamaiah Hyderabad
Shri V, Umamihcshawara Rao j Guntur Shri P.K. M llik co-opted Calcutta
General Purposes Committee 1CA1-ICSI Co-ordination Committee
Shri V. Rajaraman, President NewDalhi Shri V. Rajaraman, Leader Naw Djlhi
ShriBansi S. Mehta, Vic? President Bombay Shri Bansi S. Mehta, Deputy L-ader Bombay
Shri Y.H. Malegam Bombay Shri Y.H. Malegam Bonibaj
Shri S.K. Das Gupta Calcutta Shri G. Narayanaswamy Madras
Shri Ashok Kumbhat Madras Shri P.R. Khanna NewDilhi
D;. R.C. Vaish ' Kanpur
Editorial noard
Shri B.L. Kabra (co-opted) Bombay
Shri V. Rajaraman, President New Delhi
Shri Binsi S. Mehta, Vice President Bombay
(2) September 1981 to March 1982
Shri K.G. Somani New D JlM
Shri P.R. Khanna New Delhi STANDING COMMITTEES
Ethical Standards Committee Executive Committee
Shri V. Raj~.ram"n, President New Delhi Shri Bansi S. Mchra, President (Bombay)
ShriBansi S. Mehta, Vice President Bombay Shri Ashik Kumbhit, Vfce President (Madras)
Shri S.K.D is Gupta (Calcutta)
Shri V. Jagadisan Madras
Shri N.K. Jain D.lhi Shri Y.H, Malcgam (Bombiy)
Shri S.M. Djgar NcwD.:lhi Shri K.G. Somani (New Djlhi)
ShriR.K.S:th Kanpur
Examination Committee
Codification Committee (Bombay)
Shri Bansi S. Mehta, President
Shri V. Rajaraman, Chairman New Dilhi Shri Ashok Kumbhat, Vice President (Madras)
Shri Bansi S. Mehta, Vice Chairman Bombay Shri N.P. Sirda (Bombay)
Shri Y.H. Malegam Bombay Shri Jaisingh Singhi (Calcutta)
Shri P.R. Khanna New Djlhi Dr. R.C. Vaish (Kanpur)
Shri P. A. Nair Bombay
DIslcJpllnary Committee
Dr. R.C. Vaish Kanpur
Shri B.L. Kabra \(co-optod) Bobmay Shri Ba'isi S. Mehta, President (Bombay)
Shri P.K. Mallik / Calcutta Shri A3hok Kubhat, Vice President (Madras)
Shri A.K. Chakraborty (Calcutta)
Accountbtg Standard! Board
Shri S.M. Dugar (NewOilhi)
Shri P.N. Shah, Chairman Bombay ShriP.R. Khanna (New Djlhi)
Shri A.C. Chikrabor.ii, Vice Chairman Calcutta
Shri V. Raj iraman, President (ex-offlpio) New Djlhi NON-STANDING COMMITTEES
Shri Y .Hr Malegam Bombay
Research Committee
Shri S.M. DJgar New D-jlhi
Shri P.R. Kbanna New Djlhi Shri A.C Chakrabortti, Chairman (Calcutta)
39
Sbri S. Pnbrnknr.-vi, Vice-Chairman (Ochin) Company Law Committee
Shri Br 'si S. Mjht'., President (ex-offlcio) (Bomhay)
Shri S. Prabhakiran, Chairman (Cochin)
Shri Y.H. Malegam (Bombay)
Shri M.G. Pitel, Vice Chairman (Ahmedttbad)
Shri P.N. Shah (Bombay)
Shri Bansi S. Mehta, President (ex-Officio) (Bombay)
ShriK.G. SOmani (NewD:lhi)
ShriS.M. Djgar (New Delhi)
ShriB.M- I ii/i 1 (Bombay)
Shri P,R. Khanna (NewD;lhl)
Shri R. Sesh; =nyei- }.(co-o;>t\l) (Madras)
S'h ri V. Rajaraman (New Djlhi)
ShriK.P. Sen." ipt:i J (NcwD.lhi)
Shri P.K. Mukherjw \(co-opted)) (Calcutta)
Post Graduate Cocr ;e r'Mimlttee Shri N. Srinlvasan / (Madras)
Shri R.K. Selh, Chairman (Kanpur) University Llals"o Committee
Shri D. Se^tharam^iah, Vice-Chairman (Hyderabad) Shri N.K. Jain, Chairman (Delhi)
Shri Ashok Kumbhrt, Vice-Pi evident (cx-officio) (Madnis Shri M.G. Patcl, Vlce-Chalrman (Ahmedabad)
Dr, R.C. Vafch (Kanpur) Shri Ashok Kumbht, Vice-Presldent (ex-offlcio) (Madras)
Shri A.c. Chakrabortti (Calcutta) Shri V.G. Dadhe (Pune)
Shri S. Prabhakaran (Cochin) Shri Jaisinsh SInghi (Calcutta)
Shri H.M. Damania 1 (co-opted) (Bombay) Dr. I.B. Slnha (Luoknow)
D •. R. Rajagopalan f (Mew Djlhi) Shri A.D. Shlnde "1 co-opted (Kojhapur)
Shri I.J. Ojsai / (Surat)
Professional Development Committee
Shri V. Rajaraman, Chairman (New D£lhl)
Shri V.G. Didhe, VJce-Chairman (Pune)
Geaeral Purposes Committee
Shri Bans! S. Metha, President (ex-officio) (Bombay)
Shri Bansi S. Mehta, Chairman (Bombay) •
Shri A.K. Chakraborty (Calcutta)
Shri Ashok Kumbhat Vice-Chairman (Madras)
Shri P.P. Gangadharan (up to 24.7.1932) (New D ;lhi)
Shri S.K. Das Gupta (Calcutta)
Shri G, Narayanaswamy (Madras)
Shri Y.H. Malegam (Bombay)
Shri R.C. Suri (from 24.8.1982) (New Djlhi)
Shri K.G. Somani (New Delhi)
Shri V.B. Haribhaktl \ (co-opted) (Bombay)
ShriK. Ganesan j* (Calcutta)
Editorial Board
Taxation Committee Shri Bansi S. Mehta, Editor-in Chief (Bombay)
Shri V. Jagadisan, Chairman (Madras) Shri Ashok Kumbhat , (Madras)
Shri I.C. Jain, Vice-Chairman (Bombay) Shri V.G. Dadhe (Puno)
Shri Bans! S. Mchta, President (exTOfflcio) (Bombay) Shri I.C. Iain (Bombay)
Shri P.A. Nalr (Bombay) Shri Y.H. Malegam (Bombay)
Shri K.G. Somani (New Delhi) Shri P.A. Nair (Bombay)
Shri N. Subramaniam (New ]J;lhi) Shri M. G. Patel (Ahmodabad)
Shri G. Satyanarayansv V(co-opted) (Hyderabad) Shri N.P. Sarda (Bombay)
Shri N.K. Poddar J" (Calcutta) Shri P.N. Shah (Bombay)
Board of Studies
Ethical Standard) Committee
Shri P.A. Nair, Chairman " (Bombay)
Shri Bansi S. Mehta, Chairman (Bombay)
Shri D. S jetharamalah, Vice-Chairman (Hyderabad)
Shri Ashok Kumbhat, Vice-Chairman (Madras)
Shri Ashok Kumbhat, Vice-president (ex-officlo) (Madras)
Shri A.K. Chakraborty (Calcutta)
Shri G. Narayanaswamy (Madras)
Shri S.M. Dugar (New Delhi)
Shri N.P. Sarda (Bombay)
Shri P.R. Khanna (New Delhi)
Dr. i.B. Sinha . (Lucknow)
ShrlV.C.Dwak \(co-optcd) (Bombay)
Shri A. Roy Choudhury / (Calcutta) Accounting Standards Board
Shri P.N. Shah, Chairman (Bombay)
Employment Committee Shri A.C. Chakrabortti, Vioo-Chairman (Calcutta)
Shri I.C. Jain, Chairman (Bombay) Shri Bansi S. Mehta Prasident (ex-offlcio) (Bombay)
Shri P.T. Sampath Kumaran, Vice-Chairman (Madras) Shri S.M. Dugar (Now Dslhl)
Shri Ashok Kumbhat, Vice-Presldcnt (ex-offlclo) (Madras) Shri P, P. Gangadharan (up to 24.7,1982) (New Delhi)
Shri N.K. Jain (Delhi) Shri P.R. Khanna (New.Delhi)
Shri R.K. Sath (Kanpur) Shri Y.H. Malegam (Bombay)
Shri Rajendra S. Lodha (Calcutta) Shri P.A. Nair (Bombay)
Shri S.K. Jain \(co-opted) (Bombay) Shri S. Prabhakaran (Cochin)
ShnJ.S.Vora / (Bombay) Shri R.C. Suri (from 24.8.1982) (New Delhi)
Shri Rajjndra S, Lodha (Calcutta)
Expert Advisory Committee
Shri P.M. Narlelvala "1 (Calcutta)
Shri G. Narayanaswamy, Chairman (Madras) Shri Arun Gandhi (Bombay)
Shri P.T. Sampath Kumaran, Vice-Chairman (Madras) Shri M.P. Wadhawan y (co-opted) (New Delhi)
Shri N.C. Dhabhar I (Bombay)
Shri Ashok Kumbhat, Vice-President (ex-offlcio) (Madras) Shri P.N. Vyayaraghavan j (Madras)
Shri S.K.D-is Gupta (Catutia)
Shri V. Jagidishan (Madras)
ICAI-ICWAI Co-ordination Committee
Shri I.C. Jain (Bombay)
Shri T.R. Subramanian \(co-opted) (Madras) Shri Bansi S. Mehta, Leader (Bombay)
Shri U. Suresh Rao / (Midras) Shri Ashok Kumbhat, Dy. Leader (Mad o s)
40 THE GAZETTE OF INDIA : EXTRAORDINARY [PART III—SEC. 4]
(Calcutta) Shri A.K. Chakraborty (Bombay) Shri Y.H. Malegam Shrl P.N, Shah (Bombay) Shri P.K. Mallik (co-opted) (Calcutta)
ICAI-ICSI Co-ordination Committee
Shrl 3ansi S. Mehta, Leader (Bombay) Shri Ashok Kumbhat, Dy. Leader (Madras) (Calcutta) Shrl S.K. Das Gupta (Bombay) Shri N.P. Sarda Dr. R.C. Valsh (Kanpur) Shri R. Rajagopalan (oo-opted) (Bangalore)
Conference Committee (10th CAPA)
Shri V. Rajaraman, Co-Chairman (New Delhi) (Calcutta) Shri A.K, Chakraborty (Bmobay) Shri Y.H. Malegam (Bombay) Shri E.A. Nair (Madras) Shri G. Narayanaswamy Shrl P.K. Mallik (co-opted) (Calcutta)
Committee on Public Relations
Shri Bansi S. Mehta Chairman (Bombay) Shri Ashok kumbhat, Vice-Chairman (Madras) (Calcutta) Shri A.K. Chakraborty (New Delhi) Shri P.R. Khanna Dr. R.C. Valsh (Kanpur) Committee for Unjustified Removal of Auditors Shri Bansi S. Mehta, Chairman (Bombay) Shrl Ashok Kumbhat, Vice-Chairman (Madras) Shri S.M. Dugar
(New Delhi)
Review Committee (New Committee)
Shri Bans! S. Mehta, Chairman (Bombay) Shri Ashok Kumbhat, Vice-Chairman (Madras) (Calcutta) ShriA.C. Chakrabortti (Bombay) Shri Y.H. Malegam Shri V. Rajaraman (New Delhi) Shri B.L. Kabra \ ( >opted) (Bombay) Shri P.M. Narlclvala J (Calcutta)
APPENDIX 1U
(Rof. Para 2.4 (b) of the Report)
10th CAPA CONFERENCE COMMITTEE AND
ITS CONSTITUTED COMMITTEES
Representatives of ICAI Representatives of ICWAI
I. Conference Committee
Shri V. Rajaraman, Co-Chairman, Shri N.K. Bose, Chairman New Delhi Calcutta Shri A.K. Chakraborty, Shrl O.K. Abhyankar. Calcutta Pune Shri Y.H. Malcgam, Shri A.V. Ramana Rao, Bombay Bombay Shri P.A. Nair, Shri V. Kalyanaraman, Bombay Madras Shrl G. Narayanaswamy, Shri N.K. Roy, Madras Calcutta Shri P.K. Mallik, Calcutta
n. Budget & Finance Committee
Shri P.R. Khanna, Shrl A,V. Ramana Rao, NewD:lhi Chairman, Bombay Shri A.K. Chakraborty, Shri O.K. Abhyankar, Calcutta Pune
Representatives of ICAI Representatives of ICWAI
Shri P.N. Shah, Shrl N.K. Bosc, Bombay
(Bx-offlcio Chairman, Conferee; Cjmmlttee)
Shri V. Rajaraman, (Ex-officlo) Co-Chairman, (Conference Committee)
III. Technical Committee
Shri P.M. Narielvala, Chairman, Shrl N.K. Roy. Cilcutta Calcutta Shri Y.H. Mibgain, Shri Shyamal Bancrjeo, Bombay Calcutta Shri Bansi S. Mehta, Shri N.K. Bose, (Bx-oflfclo Bombay Ch-iimai, Coifercnci
Committee)
Shri V. Rijaraman,(B\-omcio Co-Chairman, Conference Committee)
TV. Delegates Committee
S'iri \..C. C;iikrib)rtti,Chalrrrnn, Shri Amitava Bhattacharyya Calcutta Calcutta Shri V
imtimited by ICWAI)
(Ex-officio Chairman, Conference Committee) Shri N.P. Sards, (Ono more name to be Bombay Shri V. Rajaraman, (Ex-ofnclo Co-Chairman, Conference Committee)
V. Publicity * Publication* Committee
Shri K.O. Somml, Shri V. Kalyanaraman, NewDilhi Chairman, Madras Shrl P.A. Nair, Shrl Sankar Dutta, Bombay Cilcutta Shri U.K. Sith, Shri N.K. Bose Kanpur
(Bt-officio Chairman, Conference Committee)
Shri G. Narayanaswamy, (One member to be noml- Madras nated by ICWAF in place
of Shrl J.L. Jistlle who
Shri V. Rnjiraman (Ex-offlcio vacated his seat on account Co-Chairman, Conference of bjing away from India Committee) on a pjrminent bisls)
VI. Entertainment A| Social Committee
Shri N.K. Jain, Chairman, Shri M.P. Pandit, Delhi Pune Shri P.K. Mallik, Shri R.L. Bhatia, Calcutta New D;lhl Shri Ashok Kumbhat, Shrl A.V.S. Rao, Madras Calcutta Shri I.C. Jain, Shri N.K. Bo"e, Bombay
(Bn-ofHcio Chairman, (conference Commit tee)
Shri V. Rajaraman, (Bx-0 fflclo Co-Chairman, Conference Committee)
41ApPEMDIX IV
(R;f. P*ra3 .8 (b) of the Report)
Results of Management Accountancy Course (Part I)
Examination
May,
1981
November, 1930
1980
15 3
20 3 Both Groups Candidates appeared Candidates passed Percentage
15.03%
17 1 5.88%
20.00%
Group I
16 4
17 2
13 6
Cindicates appeared Candidates passed Percentage
25.00%
33.34% 11.76%
Group II
10 3
15 6
7 3
Candidates appeared Candidates passed Percentage
30.00%
42.86%
40.00%
APPENDIX V
(Ref. Para 3.8 (c) of tho Report)
Result* of Corporate Management Course (Part I)
- Examination
May, 1981
November, 1981
May, 1982
3 2 Candidates appeared 4 4 Candidates passed 2 2 Percentage 50.00% 50.00% 66,67%
APPENDIX VI
(Ref. Para 4 of the Report)
Nominees on outside Bodies
The following membsrs represented the Institute on various
bodies:—
1. General Council of th; Institute of Shri Bansi S. Meiita
Applied Manpower Research
2. Committee sot up by the Reserve Shri Y.H, Mahgam
Bmk of India for evolving guide- lines regarding enlargement of panels of statutory auditors for public sector banks.
3. Committee on Corporate Report- Shri V. Rajaramin
ing with Assocham Shri Bans! $, Mehta Shri Y.H. Malcnam Shri P.M. Narielvala Shri P.N. Shah Shri K.P. Bharava
4. National Productivity Council Shri V. Rajaraman
5. Farm Accounts Sectional Com- Shri V. Rajarmnan
mtttee AFDC 49 of the Indian St indards Institution
6. Business Advisory Committee— Shri V. Rajaraman
Controller of Capital Issues
7. Central Advisory Committee on Shri V, Rijararmn
Direct Taxes
8. All Iidla Board of Management Sfari K..K. Scth •
Studios
772 GJ/82—6
9. Special Committs; on Co mm; re; Dr. I.B. Siiha
Education
10. Council of the International Sh[i B.L. Kabrn
Federation of Accountants (IFAC)
11. Int-mti-nai Ailiting Pncticos Sbri Y.H. M I I JB m
Committee of IFAC
12. Education nnd Training sub- Shri Baiii 8. MB&U
committee of CAPA
13. Education Conmitres "f Int-r- S'lri B i rJ 3. M^htu
mtional Fodemtion of Accoun- tants.
APPENDIX VII
(R^f. Para'5.1 of thj R ^ o r t)
Number of Members as on 1st Anil, 1931 ani 1st April.
1982
ht April 1981 1952
1st April I9S1 1982
Fellows
7040
6328
(i) Solely in Practice (li) Eigaged in other
occupation in addition to pr ctice
1542
1535
85SH
839 8S42 9421
7863 779
(iii) Not in practice
Assoclntes
6316
5824
(i) S^ljly in Prctice (ii) Engaged in other
3434
occupation in addition to practice
29R2
9750 8370 16796 18120 (ifi) Not in Pnctice
8806 7990
25438 27541 Gwnd Total
APPENDIX VTII
(Ref. Pirn 5 4 of the Report)
DISCIPLINARY ACTION AGA1V3T MEMBF.RS
I. Failure to use the BUTI Collertsd ferrn fin Co-mliliint for the purpose for which It had been Collcctel ani f illure to keep client? moneysjio a sep.irate Uanklns account till tlmy were used for the purpose for w]iJ;h they were Intended
and
For the Alterations Deliberately made or omitted to he made with a view to Mislead the connhinint In a enpy of the Ar- ticles of Association furnished by the Members to the com- plainant
Two members were fluid guilty of professional misconduct under Clause (10) of p.irt I "f ihc S :cond Schedule to the Chir- trrcd Accountant Act, 1949 f ^r their f ilurc tunt lill they were us:d for the purposes for which they were intended. Ole of tho two members was also found guilty of professional or other mil- conduct within the meaning of Section 21 of th^ Chartered Ac- count ints Act, 1949 read with Section II of the s'-id Acr, for the alterations deliberately midc nr omitted to be m de wi:h " view to mislead the Complainant in a copy of the Articles of
42 THE GAZETTE OF INDIA : EXTRAORDINARY [PART III—SEC. 4] 3 1 Shri K.E. Baria 11. 453 Shri Sitala Charon Sengupta 12. 458ShriP.A. Dordi
13. 477
Shri B.A. Mehendale
14, 503
Shri M.J, Gadro
15. 519 '
Shri S. Krishnamoorthy
16. 532
AsErci^ticn fupii'-hu' by ihe number to the Cornplainiint. The Council rcL-cnimcndc
Shri D.N. Bhatt
17. 637
Shri Sheshadrl Ranganathan
18. 711
Shri Krishna K. Kamath
19. 797
2. Failure to point out contravention of section 205 of the Com- panies net In regard to declaration of dividend without pro- viding for depreciation.
Shri B.E. Kumana
20, 817
Shri R. Narasimhan
21. 853
Shri P. Krishnaswnmy
22. 894
Shri V. Rajaram
23. 934
Shri C.S. Bhatnagar
24. 984
Shri S. Gell Tomas
25. 1014
Shri J.H. Shah
26. 1270
Shri V. Viswanathan
27. 1408
Shri Abheymal Gang
28. 1484
Shri Sorab Pochajl Pooha
29, 1584
Shri Ambalal Kalidas Patel
30. 1693
Shri Jaykumar Dhansukhram Shukla
31. 1851
A member was found guilty of professional misconduct under Clause (7) of Part I of the Second Schedule to the Chartered Accountants Act, 1949 for having failed to point out in his report on the balance sheets of the company ad at 31 -3-1974 and 31-3-1975, the contravention of Section 205 of the Companeis Act, 1956 in regard to the declaration of dividend without providing for depreciation. The Council recommended to the High Court that the member be reprimanded. The High Court, after considering the statement made by member that he would in future act with greater caution and attention in discharge of his duties, and after taking into consideration the faots and circumstances of the case, was of opinion that no further action was called for.
Shri M.V. Kanekar
32. 1933
Shri Jacob Tharian
33. 2024
[For full details, please see page 710 of April, 1982 issue of "The Chartered Accountant'1]
Shri Prafulla Chandra Sengupta
34, ZO35
3. Issuing fabe Certificates regarding consumption of Imported
Shri S. Ramakrishna
35, 2077
raw Material) and the book vnlue of production
Shri R M.Bfngar
36. 2185
Shri Kanwar Anand Singh
37. 2223
Shri C.J. Haiappanavar
38. 2807
Shri V. Subramaiyam
39. 2936
Shri Madhav Dattatrayn Boxkar
40. 3120
Shri R.A. Padmanabha Rao
41, 3609
Shri N.V. Vale
4Z 3837
Shri Ashlm Kumar Sengupta
43. 4221
Shri C.C. Desai
44. 4261
Two members were found guilty of professional misconduct under Clauses (7) and (8) of Part I of the Second Schedule to the Chartered Accountants Act, 1949, for having issued false certificate* regarding consumption of imported raw materials and regarding the book value of production in favaour of a firm to assist it in obtaining import licences for whioh the firm was not entitled. The Council recommended to the High Court that the members be reprimanded. The High Court accepting the finding of the Council and the recommendation made by it, administered a reprimand to the members.
Shri Sisir Chandra Khan
45. 4262
Shri Muneshwar Prasad
46. 4360
(For full details, please soc page 151-152 of August, 1982 issu* of "The Chartered Accountant"]
Shri Saumendfa Krishna Bose
47. 4447
Shri Ahfndrft Bhusam Ray Chaudhuri
48. 4579
APPENDIX IX
ShH K. Subraham&nyam
49. 4611
(Ref Para 5.3(a) of the Report)
Shri P.K. Sarkar
50. 4898
Names of Memebers v*o Expired during the year 1981-82
Shri AJlt Krishna Agarwal
51. 4945
Shri Mullapudi Kodandaramamurti
52. 5053
Membership
Name
Shri Bhola Nath Mohra
53. 5105
S.No. No.
Shri O.N. Shah
54. 5518
•j
3
7126
•>
1.
7795
2. 109
7930
3. 147
9413
4. 175
197
6. 259
356
7.
8, 360
9. 384
404
10.
43APPENDIX 'F'
(.Reference para of the Report.)
NUMBER OF STUDENTS ENROLLED DURING 1981-82
FINAL
INTERMEDIA TE
New
I
1st April 1981 14,118 9,247 No. of candidates who were on roll on Enrolled during the year 1981-82
23,365
in the year 1981-82
7,333 No. of students who completed tuition (May &Nov., 1981 Examinations)
16,032
APPENDIX XI
(Ref Para 7,1 of the Report)
SUMMARY OF RESULTS
A. Examinations held in May /June 1981
(I) ENTRANCE EXAMINATION—JUNE, 1981
Total number of candidates 33H7
Number of oandidates absent in one or more
papers
1333
Out of the above—No, of candidates exempted in
one oi more papers
852
Effective number of candidates . 2906
Total number of candidates declared successful flS3 22,47 Percentage
(li) INTERMEDIATE (OLD SYLLABUS)
EXAMINATION—MAY, 1981
Total number of oandidates appeared in Group I 239 No. of candidates declared successful in Group I 87 Peroentago 36.55 Total No. of candidates appeared in Group II 400 No. of oandidates declared successful in Group n 21
5.25 Percentage Total No. of candidates appeared in Both Groups 16*6 N o. of oandidates declared successful in Both Groups Percentage
7 4,22
(U1)INTERMEDIATE (NEW SYLLABUS) EXAMINATION— MAY, 1981
Total No. of oandidates appeared in Group I ] 147 No. of oandidates declared successful in Group I 2208 Percentage 19,79 Total No. of candidates appeared in Group II 11778 No. of candidates declared successful in Group II 1732
Percentage
14,71
Total No. of candidates appeared in Both Groups 5907
No. of candidates declared successful in Both Groups 426
Percentage
7.20
(IV) FINAL (OLD SYLLABUS)
EXAMINATION—MAY 1981
Total No. of oandidates appeared in Group I 2481 No. of oandidates declared successful In Group 1 352 Old
New
I 11
III u
13,357
10,731 1,119 37
892 37
12,778 3,020
3,020
3,020
929
1,156
15,798
16,377
13,751
118
169
2,049
2,525
2,409
1.1,749
938
760
.13,852
11,342
14.19 Peicentagc Total No. of candidates appeared in Group II ] 591 No. of candidates declared successful in Group II 59 Percentage 3 71 Total No. of candidates appeared in Both Groups 537 No. of candidates declared ^successful in Both Gioups 4
Percentage
_ 74
(v) FINAL (NEW SYLLABUS)
EXAMINATION—MAY 1981
Total No. of candidates appourd in Group 1 346y No. of candidates declared successful in Group I 1102 Percentage 31.77 Total No. of candidates appeared in Group II 3361 No. of candidates declared successful in Group 11 780 23 24 Percentage Total No. of candidates appeared in Group HI 3385 No. of candidates appeared in Group UI 1253
Percentage 37.06 Total No. of candidates appeared in All Groups 1033 No. of oandidates declared successful in All Groups 83 8.03 Percentage.
B. Examination held in November/December 1981
(0 ENTRANCE EXAMINATION—
DECEMBER—1981
Total No, of candidates
7529
NQ. of candidates absent in one or more papers 1705 Out of the above—No. of candidates exempted in
one or more pa pers
1102 Effective No. of candidates 6929 Total No, of candidates declared succssful 1391
Percentage
20.1
(if) INTERMEDIATE (OLD SYLLABUS)
EXAMINATION—NOVEMBER 1981
Total No. of candidates appeared in Group I 190 No. of candidates declared successful in Group I 29 15.26 Percentage
Total No, of candidates appeared in Group II 462 No. of candidates declared successful in Group II 16
Percentage - 46 Total No. of candidates appeared in Both Groups 173 No. of candidates declared successful in Both Groupi 2
Percentage
1.10
44 THE GAZETTE OF INDIA : EXTRAORDINARY [PART III—SEC . 4](lii) INTERMEDIATE (NEW SYLLABUS)
EXAMINATION—NOVEMBER 1981
Total No. of candidates appeared in Group I 42709 No. of candidates declared successful in Group I 1915 Percentage 15.07 Total No. of candidates appeared in Group II 13029 No. of candidates declared successful in Group II 1460 11.20 Percentage Total N J. of candidates appeared in Both Groups 6591 No. of candidates declared successful in Both Groups 462 7.01 Percentage
(iv) FINAL (OLD SYLLABUS)
EXAMINATION—NOVEMBER 1981
Total No. of candidates appeared in Group I 2215 No. of candidates declared successful in Group I 327 Percentage 14.76 Total No. of candidates appeared in Group II 1605 No. of candidates declared successful in Group II 48 Percentage 2.99 Total No. of candidates appeared in Both Groups 532 No. of candidates cfcclarcd successful In Both Groups 2 0.37 Percentage
(v) FINAL (NEW SYLLABUS)
EXAMINATION—NOVEMBER 1981
Total No, of candidates appeared in Group I 4058 No. of candidates declared successful in Group I 1886 46.48 Percentage
Total No. of candidates appeared in Group II 3906 No. of candidates declared successful in Group II 695
Percentage
17.79
Total No. of candidates appeared in Group III 3735 No. of candidates declared successful in Group III 1 1055 Percentage 28.25 Total No. of candidates appeared in All Groups 1313 No. of candidates declared successful in All Groups 122 9.29 Percentage
APPENDIX XII
(Ref. Para 7.2 of the Report)
PRIZES AND CERTIFICATES OF MERITS
Final Examination
Bwt Student of the year, 1981
Sailesh Kumar Sanmukblal Shah—awarded the following
prizes:—
(i) G.P. Kapadia (First President) Prize
(ii) Ramachandra Singhi Prize for the best candidate
(iii) G. Basu Foundation Award for the best student of
the year, 1981
(iv) Certiucate of Merit—First Rank
Intermediate Examination
J cat student of the year 1981
llajkumar Satyanarayan Adufcia—awarded the following
prizes;
y'O G.P. Kapadia (First President) Prize. U\) Suri Memorial Fund Award for the bwt student of
ihe year 1981.
nil) Certificate of merit—First Rank.
Final Examination
May 1981 November 1981
1. G.P. Kapadia (First Milind Madhu- Sailesh Kumar
President) Prize Sudan Bhagwat Sanmukhlal
and Prag Shah Santilal Parekh
2. Ramachandra Singhi Milind Madhu- Sailesh Kumar Prize for the best Sudan Bhagwat Saumukhlal candidate and Prag Shah
Shantilal Parekh
3. Sir Shapoorji Billi- S. Srldharan Kirit Himatlal
moria Prize for the Vora best paper on Accoun- tancy
4. R.V.K. Umarjee Prize Atul Mohan Anand Das for the best paper on Maheshwari Cost Accounting
5. A.F. Ferguson Prize Ashok Kumar K. Narayanan
and the R. Venkatesan Josh! Memorial Prize for the best paper on Auditing
6. N.M. Shah Prize.and Umesh kumar Ashok Wadhwa
Suri Memorial Prize K. Mehta for the best paper on Direct Tax Laws
7. Kerala Verma Prize S. Sridharan K. Narayanan
for the best candidate In Group I.
8. U.C. Majumdar Prize Milind Madhu- Miss Amita
and the S.M. Shah Sudan Bhagwat Pradeep Shah Prize for the best paper and Prag and Anil Singhvi on Company Law Shantilal Parekh
9. Venkatachalam Mohan Anand K. K. Chandra-
Prize for the best paper Bhansali sekhar on Economics
10. P.N. Ghosh Memorial Milind Madhu- Miss Amlta
Prize for the best candi- Sudan Bhagwat Pradeep Shah date in Group II
11. Jayantilal K. Thakkar S. Sridharan K.Narayanan
Memorial Prize who secures the second highest marks in the. . Final Examination
12. R. Slvabhogam Prize Raksh* H. Amita PflfdWp
for the best lady Candl- Shah Shah date
13. G. Basu Foundation Sailesh Kumar Award for the best Sanmukhlal student for the year shah 1981
L14. N.N. Das Prize for the K. Narayanan
best student of the year 1981 in the Accoun- tancy Group
15. Certificate of Merit :
(New Syllabus) 1 R a nk Miland Madhu- Sailesh Kumar
sudan Bhagwat Sanmukhlal and Prag Shah Shantilal Parekh H Rank s. Sridharan K. Narayanan ni Rank Atul Mohan Hari Krishna
Agarwal
45November 1981
May 1981
INTERMEDIATE EXAMINATION
May 1981 November 1981
4. Certificate of Merit: (New Syllabus) I Rank
Rajkumar
Rajkumar Satyanarayan Adukia 1- G.P. Kapadia (first President) Prize
Ganesh Rau K.L. and Sarwate Milind Shripad
Ganesh Rau K.L. and Sarwate Satyanarayan Milind Shripad Adukia
II Rank
Vivek Juneja
2. Dinesh Himatlal Shah
N. Mahadevan
T.V. Mohan Das Pai
Prize for the best paper on Auditing
Dinesh Kumar Bhageria & Sanjay Chandrakant Dalai 3. Suri Memorial Fund
II R:nk
N. Mahadevan Award to the best stu- dent of the year 1981
Rajkumar Satyanarayan Adukia
Mark Simon Fonseca
ANNUAL ACCOUNTS, J9S1-82
AUDITORS' REPORT
Wo have audited the Balance Sheet of the Institute of Chartered Accountants of India, as at 31 st March, 1982 and also the annexed Inoome & Expenditure Account for the year ended on that date incorporating thj aocjunts of ths Rigoail CJU i;iU and Branches and the Students' Associations and Branches and report that :
1. We have obtained all the information and explanations which to the bast of our knowledge and belief ware necessary for the purpose of oui audit;
2. the Balance Sheet and the Income & Expenditure Account dealt with by tho report uro io agreement with the baoks of accounts;
3. in our opinion, the accounts are maintained in conformity with the requirement of tha Ciiarterod Accountants Act, 1949;
and
4. in our opinion and to the best of our information and according to thj explanations givn ti u;, thasUtsimtj tojjathsr with tha schedules attached, give a true and fair view :
(i) in the case of the Balance Sheet, of the state of affairs as at 31st March, 1982, and
(ii) in the case of the Income & Expenditure Aj^unt, of tha DiSjlt f jr tho yeir endsd on that date.
New Eelhi,
P.R. Mebra, M.R. Venkatarama.i
Dated, the 27th August, 1982
Chartered Accountants
THE INSTITUTE OF CHARTERED ACCOUNTANTS OF INDIA, NEW DELHI
ACCOUNTING POLICIES
1. Depreciation : Fixed assets are shown on historical cost basis and have been depreciated on the basis of tho diminishing balance method, with the exception'of library books whore the straight line method is applied. Tho rates of depreciation are the same as per the Income-tax Act,
2. The admission fee from fellow members and a major portion of tho entranoe fee reosivei from assosiate matibsrs are capiUlisod. An appropriate portion of the surplus arising out of students activities is transferred to Education Fund and to the extent this fund is utilised on fixed assets, transferred to Capital Reserve.
3. Inventories of paper, publications and study materials are valued at lower of cost or net realisable value. For this purpose cost is ascertained on the basis of direct cost method.
4. Provision for Gratuity io staff is made on accrual basis. A gratuity -cum -group insurance policy has been taken from tho Life Insu- rance Corporation of India. Any shortfall in tho payment of gratuity is debited in the year of payment.
5. Investments have been valued at cost,
46 THE GAZETTE OF INDIA : EXTRAORDINARY [PART I I I ~ S E C. 4]THE INSTITUTE OF CHARTERED ACCOUMrANTS OF INDIA
BALANCE SHEET AS AT 31ST MARCH, 1982
Schedule
31-3-1982
31-3-1981
Rs. RS.
Rs.
Ks.
Funds Employed
(1) Fixed Assets
Gross Block Less : Depreciation
135,86,366 48,44,774
124,14,666 43,05,544
A
Net Block
87,41,592
81,09,122
(2) Earmarked Investments
B
27,00,668
27,39,773
(3) Other Investments
99,07,766
95,08,930 (a) Fixed Deposits with banks (b) Govt Securities
2,506 99,10,272
2,506
95,11,436
C
,"(—)3,80,797
(4) Net Currant Assets
10,22,936
209,71,735
213,83,267
D
119.09.154
Financed By (1) Capital Reserve
114,47,580
E
49,15,059
(2) General Reserve
58,84,626
F
14,46,854
(3) Other Reserves
13,11,288
G
(4) Earmarked Funds
27,00,668
27,39,773
,209,71,735
213,83,267
The accounts of 6 brancaes oi regional councils, J students assumptions and 4 Dranones, Having not been received, the latest available figures of asset* and liabilities as adjusted bf the amount of grant/fee paid or payable have been incorporated.
B a n sI Sl M e h ta A<) Per o ur Report of even date attached
President
Secretary P.C. J"in
Deputy Secretary
Ashok Kumbbat MR. Venkataranun, P.R. Mehra Vice -President Chartered Accountants
New Delhi, 26 August, 1982.
TIIE INSTITUTE OF CHARTERED ACCOUNTANTS OF INDIA
INCOME & EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31ST MARCH 1982
1981-82
Rs.
1980-81 Rs.
I, INCOME—Schedule H
(a) Members
51,93,245 (1) Regulatory
6,29,162 (ii) professional Development & Research
47,84,438 5,32,751
(b) Students
58.22,407 124,64,122
53,17,189 120,36,256
TOTAL
182,86,529
173,53,445
n. EXPENDITURE—Schedule I
(a) Members
18,58,4C6 (0 Regulatory
46,01,462
15,01,660 36,90,072 (il) Professional Development & Research
64,59,868 127,28,474 (b) Students
51,91,732 109,22,330
191,88,342
TOTAL
161,14,062
4719*1-82 1980-81 Rs. Rs,
(el Deficit/Surplus for the year
(i) Transferred to Education Fund (il) Transferred to General Reserve
C-)1,32,176 5,56,963 (->7,69,637 6,82,420
(—)9,O1.813 12,39,383
182,86,529 173,53,445
As por our Report of even dateattflched P.S. GopaUlcrfihnan Secretary
Banil S. Mehta
President
M R. Venkataraman, P.R. Mehra
P.C. Jain
Deputy Secretary
Aihok Kmnbhat
Vice-President
Chartered Accountants 27th August, 1982
THE INSTITUTE OF CHARTERED ACCOUNTANTS OF INDIA, NEW DELHI
SCHEDULE A—FIXED ASSETS
__
. (Amounts In Rupees)
Depreciation Book value
Book value
during the
as at
No.
S- Assets Cost as at Ad'tfstmcnts Additions Cost as at
31-3-1982
as at
year
1-4-1981 relating to
Branches
31-3-1982 31-3-1982
as at 31-3-1981
1. Ln-rt
2,82,693 —
2,82,693
2,82,693 2,82,693
2. (al Buildings
53,20,880 —
55,20,880 11,14,074 44,06,806 45,19,801
(b) Wjrk-ln-iprogrcss
9,70,495 — 3,61,202 13,31,697
13,31.697 9,70,495
3. Ebctric Installations & Fittings
7.94,524 (—) 297 45,466 8,39,693 4,92,971 3,46,722 3,45,303
4. Air Cwittioning Installations
5,85,025 —
5,85,025 4,77,016 1,08.009 1,27,069
3. Lift
1,57,883 —
1,57,883 1,08,292 49,591 55,101
6. FurnitureA Fixtures
14,98,843 (—) 11,647 2,71,028 17.58,224 8,10,603 9.47,619 7,93,764
7. Office Equipments
7,24,668 (—) 1,357 1,25,259 8,48,570 4,86^38 3,62,032 2,98,071
8. Vehicle
32,779 —
32,779
22,038 10,741 13,426
9. Library Books
18,46,876 (—) 18,345 4,00,391 22,28,922 13,33,240 8,95,682 7,03,399
TOTAL 124,14,666 (—) 31,646 12,03,346 135,86.366 48,44,774 87,41,592 81,09.122
THE INSTITUTE OF CHARTERED ACCOUNTANTS OF INDIA, NEW DELHI
SCHEDULE B- EARMARKED INVESTMENTS
(Amounts In Rupees)
Ft ted Deposits with
Government Securities Total
Balance in otfier Bank
Accounts
31-3-82
31-3-82 31-3-81
31-3-81
31-3-82 31-3-81 31-3-82 31-3-81
„
...
^
A. Educationa Find Investments Total 1?,, 14,008 13,48,445
12,14.008 13,48,445
B O.hi- B r m - k ol U wt runts " —
80,025 80,025
6,78.427 1,51,081 2,24,654
6,78,427 •1,28.081 2,24,654
22,035 4,028
17,577 4,028
6,78,427 2,53,141 2,28,682
6,78,427 2,25,683 2,28,682 (a) Research Fund (b) Medals & Prize-; Fund (c) Scientific Research Fund (d) 7th Conference of Chartered Aoxur-
tants Scholarship Fund
26,100 26,100 16,886 14,276
42,986 40,376
(c) Sothern India Chartered Accountants Students Association Hostel Fund
9,560 20,100 31,000
6,193 4.285 6,395
9,560 20,100 31,000
5,237 1.495 6,395
15,753 24,385 37,395
14,797 21,595 37.395 (f) Students Scholarship Fund (g) Seminar Fund (Surat Branch) (h) Western India Rcsionl Conference
(Ahmedabad) Fund
2,621
6,620
6,620
1.713
9,241 8,333
(i) Eastern India Regie rial Council Build-
65,368 . 65,368 50,000
ing Fund
1.15,368 65,368
(j) Visakhapatnam Branch Building
Fund
13,800 12,000
1,800
13,800 13,800
Oc) 6th Western India, Regional Con-
13,974
48,600
8,272
ference (Poona) Fund
56,872
*1) B->ok Bank (NIRC)
48,600 4,908
62,574 4,908
TOTAL (B) 12,80,218 12,50,510 1,26,417 60,793 80,025 80,025 14,86,660 13,91,328
GRAND TOTAL : (A.4B) 24,94,226 25,98,955 1,26,417 60,793 80,025 80,025 27,00,668 27,39.773
48 THE GAZETTE OF INDIA : EXTRAORDINARY [PART III— Sue. 4]THE INSTITUTE OF CHARTERED ACCOUNTANTS OF INDIA, NEW DELHI
SCHEDULE C—NET CURRENT ASSETS
(Amount In Rupees)
Particulars
31-3-1982
31-3-1982
Current Assets :
20,45,443
19,33,019 (a) Publications, Study Materials & Stationery (b) Amounts Receivable :
Interest Others
6,35,847 4,63,181
10,99,028
15,17,815
8,46,598 6,71,217
(c) Loans & Advances
(i) Advances to Staff
Housing, Car, Cycle Loans—Secured Others—Unsecured
15,00,645 1,88,445
8,82,322 57,439
16,89,090 6,33,927
9,39,761 6,16,903 (11) Loan Scholarships to Students (111) Advances In respect of land and
new construction
(iv) Others
12,17,062 5,39,732
40,79,811
6,13.600 5,91,515
27,61,779
(d) Caih A Bank balances
25,35,674
36,34,222
TOTAL
97,59,956
98,46,835
Ltu : Current Liabilities : (a) Fees received in advance (b) Creditors for expenses (c) Other liabilities
65,40,904 12,60,190 23.39,659
53,12,458 11,39,688 23.71,753
TOTAL
101,40,753
88,23,899
Net current Asseti
(—)3,80,797
10,22,936
SCHEDULE D—CAPITAL RESERVE
(Amounts In Rupees)
Particulars
31-3-1982
31-3-1982
(a) General
97,16,528 4,61,574
Balance as per last Account Add : Entrance Fee allocated Transferred from other Reserves
84,67,753 6,40,716 6,08,059
TOTAL
101,78,102
9V.16.528
(b) Education
Balance as per last account
TOTAL
17,31,052
17,31,052
GRAND TOTAL
119,09,154
114,47,580
SCHEDULE E—GENERAL RESERVE
(Amounts Jn Rupees)
Particulars
31-3-1982
31-3-1982
58,84,626
54.69,200 Balance as per last account Add : Deficit/Surplus transferred from Income & Expenditure Accounts
(—)7,69,637
6,82,420
Ltu : Transferred to other Reserves
51,14,989 (—)l,99,930
61,51,620 2,66,994
TOTAL
49,15,059
58,84,626
49THE INSTITUTE OF CHARTERED ACCOUNTANTS OF INDIA, NEW DELHI
SCHEDULE F—OTHER RESERVES
(Amounts in Rupees)
31-3-1981
31-3-1982
Particulars
BaL nee as per '.&",t Account Add : Net Depletion Accretion during the year
12,06,659 4,99,145 2,66,994 Transferred from General Reserve
13.11,288 (—) 64,364 1,99,930 14,46,854
Less : To Cpaital Reserve
19,72,79 6,08,859 53,451 T"ansferred to Earmarked Funds
13,11,288
14,46,854
TOTAL
SCHEDULE G—EARMARKED FUNDS
(Amounts In Rupees)
31-3-1981
31-3-1982
Particulars
A. Education Fund
Balance as per last account
Add : Transferred from Income & Expenditure Account
23,33,000 5,56.963 2,11,300
13.48,445 (—)1,32,176 1,22,690
Interest earned during the year
13,38,959
31,01,263 17,31,052 21.766
(-)1,24,951
Ltss : Transferred to Capital Reserve Transferred to Medals & Prizes fund Adjustments
13,48,445
12,14,008
TOTAL (A)
B. Other Earmarked Funds
(a) Research Fund
6,78,427
6,31,747 46,680 Balance as per last account Transferred from Social Cost Benefit Analysis Fund
6,78,427
6.78,427
(b) Medals & Prizes Fund
2,04,711
2,25,683 23.000
Balance as per last account Additions during the year Add : Reimbursement towards deficit
15,210 21,766 16,552
18,398
Transferred from Education Fund Income earned during the year
2,58,239 32,556
2.67,081 13,940
Less : Cost of Medals & Prizes awardod
2,25.683
2.53,141
2,28.682
2.28,682
Balance as per last account
Balance as per last Account
37,766 2,610
40,376 2,610
Add : Income earned during the year
40,376
42,986
(e) Southern India Chartered Accountants Students'
13,841 956
14,797 956
Association Hostel Fund Balance as per last Account Add : "Income earned during the year
14,797
15,753
Contd.
77?nT/RT_-7 772GI/82-7
50 THE GAZETTE OF INDIA ! EXTRAORDINARY [PART III—SEC. 4}THE INSTITUTE OF CHARTERED ACCOUNTANTS OF INDIA, NEW DELHI
SCHEDULE O— Contd.
31-3-1981
31-3-1982
Particular
(f) Students' Scholarship Fund
Balance as per last account 21,595 21,130-
Add: Income earned during the year 5,340 1,890
26,935 23,020
Less: Expenditure during the year 2,550 1,425
21,595
24,385
( g) Seminar flmd—Surat Branch
Balance as per last account 25,462
37,395 10,443
Additions during the year
Add: Income earned during the year 1,490
37,395
37,395
(h) Western India Regional Conference (Ahmedabad Fund)
Balance as per last account 8,333
8,333
Add: Income earned during the year 908
9,241
8,333
(1) Eastern India Regional Council Building Fund
Balance as per last account 65,368
65,368
Addition during the year 50,000
1,15,368 65,368
(J) Vlsakhapatnam Branch Building Fund
Balance as per last account 13,200
13,800 600
Add : Income earned during the year
13,800 13,803
(k) 6th Western India Regional Conference (Poona Fond)
Balance as per last account 56,872 53,451
-Transferred from other Reserve
Add: Inoome earned during the year 5,702 3,421 ]
62,574 56,872
(1) Book Bank Fund (NIRC)
4,908
TOTAL (B) 14,86,660 13,91,328
GRAND TOTAL (A+B)
27,00,668
27,39,773
THE INSTITUTE OF CHARTERED ACCOUNTANTS OF INDIA, NEW DELHI
ANNEXURE TO INCOME & EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31ST MARCH , 1981
SCHEDULE (H)
TOTAL
MEMBERS
STUDENT!
Regulatory
Professional Development
31-3-81
I. INCOME
31-3-32
31-3-82 31-3-81
& Research
31-3-82 31-3-81
31-3-82
31-3-81
Rs.
Rs.
Rs. Rs.
Rs. Rs.
Rs.
Rs.
Entrance Fee Membership Fee
1,09,800 43,81,906
1,09,200 40,18,033
1. 2.
1,09,800 1,09,200
43,81,906 40,11,033
51 1 2 4 3 7 8 5 6 93. Post Graduate Course
—
Fee
—
21,500 22,400
21,500 22,400 -
4. Student's Registration
—
—
Fee
—,
4,66,350 4,89,200
— 4.66,350 4,89,300
5, Student's Association
—
Fee
—
—. — _
—
—
—
—
6. Coaching Fee 7. Examination Fee 8. Journal & News Letter 9. Publications
97,830 49,53,701 * 50,73,094 2,48,878 10,97,268 1,52,388
— —.
2,51,396 91,003
93,270 49,03,854 54,54,812 2,33,034 12,06,608 1,53,686
— 93,270 - 49,03,854 — 54,54,812 - 2,33,034 2,27,701 9,55,212 89,505 62,683
97,830 49,53,701 50,73,094 2,48,87 8 8,69,567 62,883 10. Interest On Investments 11. Nomination Fee for
—.
—.
—
750
Election to Councils & Regional Councils
750 2,69,710
2,65,263
12. Others
—, 3,49,671
1,93,145 84.408
—
—
• 76,565
44,91,706 41,27,983 6,29,162
SUB-TOTAL 173,74,491 165,32,452
5,32,751 122,53,623
118,71,718
13. Income from General
6,97,145
—.
9,06,328 8,14,845
6,51,844
— 2,09,181 1,63,001 Fund Investments— (Allocated)
14. Income from Property
6,148
4,392
4,611
5,710
— 1,318 (Allocated)
1,537
51,93,245 47,84,438 6,29,162
TOTAL
182,86,529 173,53,445
5,32.751 124, 64,122
120.36.256
SCHEDULE (1)
TOTAL
MEMBERS
STUDENTS
Regulatory
Professional Development
& Research
31-3-82 31-3-81 31-3-82 31-3-81 31-3-82 31-3-81
31-3-82 31-3-81
Rs.
Ay.
Rs.
Rs.
Rs.
Rs.
Rs.
Rs.
11. EXPENDITURE
54,67,608 46,42,884 8,33,705
12,51,569 9,99,942
1. Salaries & Expenses
33,82,334 33.05,676
1,35,663
6,37,266 76,438
8,37,465 7,24,201
2.97,554 2,94,781
2. Printing & Stationery
4,04,248 3,52,982
2,70,950 1,58,817
4,68,879
—
—
4,63,527 11,02,281
3. Publications 4. Journal & News Letter
12,03,356 13,00,140
7,20,334 12,24,309
2,05,303 10,42,175 1,97,859
3,56,194 1,82,134
23,23,593 21,07,167
23,23.593 5. Coaching (Excluding Salaries & Staff Ex- penses)
21,07,167
6. Examination (Excluding
—
44,70,705 37,74,181
44,70,705 Salaries & Staff Ex- peruses)
37,74,181
7. Postage, Telegram &
Telephones
8. Rent, Rates & Taxes 9. Repairs & Maintenance
5,87,836 4,96,880 2,09,379 5,51,757
4,15,268 3,75,896 2,65,063 4,81,385
1,28,095 95,350 41,595 1,37,629
83,196 71,981 59,666 1,19,941
1,36,259 1.34.520 79,250 11,19,942
1,80,650 1,81,960 73,793 1,37,628
2,79,091 2,19,570 93,991 2,76,500
1,95,813 1,69,395 1,26,147 2,41,502
i
10. Depreciation 11. Travelling & Conveyance
1,50,342 22,232
1,03,834 20,060
2,47,291 1,53,938 35,701
1,79,964 1,07,392 19,241 7,53,952 2,58,272 57,742 98,979 1,47,858
42.745
2,65,578 90.965 27,246 1,02.205 36,065
3,56,319 82,002 32,041 98,979 60,030
45,083 12,371
1.54,001 16,460
4,22,820
5,49,376 2,18,417 46,487 1,02,205 2,02,437 16,460 2,47,992
2,83,129 1,55,821 1,39,691 92,171 (a) Council Members (b) Staff & Others 12. Library Maintenance 13. Overseas Relations 14. Professional Fees 15. Bye-election 16. Others
••
191,88,342 161,14,062 18,58.406 15,01,660 46,01.462
TOTAL
36,90,072 127,28,474 109,22,330
32 THE GAZETTE OF INDIA : EXTRAORDINARY [PART i n —S EC 4]THE INSTITUTE OF CHARTERED ACCOUNTANTS OF INDIA, NEW DELHI
Statement of Changes in Financial Position for the year ended 3lst March, 1982
Rs.
12,05,838 3,50,167 14,03,733 Sources of Funds : N*t Income from investments, property etc. (both on capital revenue accounts) Capital receipts in the form of entrance fee, donations etc. Decrease in working capital (See statement below)
29,59,738
13,96,659 Deficit for the year without1 charging depreciation and considering non-operational revenue Income from Investments and property
15,63,079
TOTAL
Application of Funds
Acquisition of Fixed Assets Acquisition of Investments
12.03,348 3,59,731 15,63,079
TOTAL
STATEMENT OF CHANGE IN WORKING CAPITAL
Increase!
Decrease
Rupees
CURRENT ASSETS
(a) Publications, Study Materials and Stationery (b) Amounts Receivable : Interest
112,424 (—) 210,751 (—) 208,036 Others
(c) Loans and Advances (0 Advances to Staff (i>) Loan Scholarships to Students
(Hi) Advances in respect of land and new construction (iv) Others
749,329 17,024 603,462 (—) 51,783 (—) 1098,548 (d) Cash & Bank balances
(—) 86,879
TOTAL
CURRENT LIABILITIES
1228,446 120,502 ( -) 32,094 (a) Fees received in advance (b) Creditors for expenses (c) Other Liabilities
1316,854
TOTAL
1403,733
Net Decrease in
Working Capital
ANALYSIS OF EXPENSES ON MEMBERS FOR THE YEAR 1981-82
APPENDIX
1980-81
Particulars
mi-82
S.No
1.
27,093 6,460
24,956 Rs. 5,192
Rs.
(a) No. of Members (b) Total Expenditure*
Rs. 238
Rs. 208 Total Expenditure per member
2-, 3.
Rs. 1,502 Rs. 60
Rs. Rs.
1,858 68 2 9%
Regulatory (a) Total Expenditure* (b) Expenditure per member (c) Percentage
2 9%
4. Professional Development & Research
Rs. 3,690 148
Rs. Rs.
71 Of (a) Total Expenditure* (b) Expenditure per member (c) Percentage
4,602 170 7 1%
* Rupees in thousand.
P.S. GOPALAKRISHNAN.
Secretary
fRptTEp BY THE MANAGER, GOVT. OF INDIA PRESS, RING ROAD, NEW DEl,H|-l 1 0 0 64
AND PUBLISHED BY THE CONTROLLER OF PUBLICATIONS, DELHI-110054, 1 9 82
- in collabora- tion with the Institute of Cost & Works Acccount- ants of India (xii) Seminar on 'planning for Gauhati New Projects' 9 th May, 1932 (xiii) Seminar on 'Project Eva- Hyderabad (c) Tho Committee conducted three Residential Courses on Internal Audit, The first course was held in January, 1982 at Suraj Kund (Horyana) near Delhi, the second at Panjim-Goa in ApriM982 and the third one at Gangtok (Sikkirn) in May 1982. luation and Management 11th & 12th Jun?, 1982 Bombay 10th & 11th July, 1982 (xiv) Seminar on 'Aspects of Cor- poration Laws' in collabora- tion with the Institute of Company Secretaries of India. ••» (f) At the instance of the Committee, various branches and regional councils conducted seminars on Internal Audit during the year. The Committee also drew up a plan for industrywise seminars on the subject. The Ahmedabad Branch conducted a seminar on Internal Audit of Textile Industry and the Erana- kulani branch on Internal Audit in plantations. Madras (g) The Committee published an Accounting and Auditing 28th & 29th August, 1982 Technical Guide on Textile Industry. (h) The All India Conference on Internal Audit was hold on - (xv) Seminar on'Cost and Finanl cial Management' in colla- boration with the Institute of Cost & Works Accoun- tants of India. 4th & 5th September, 1982 at Madras, (i) A sub-commhtee of the Committee was formed with the following terms of reference:— "To consider all matters effecting members in service—in (b) Examinations of the Management Accountancy Course (Pan I) were held in November 1981 and May 1982. The sum- marised results of the examinations heia in May 1981, November 1981 and May 1982 are given in Appendix IV. particular to consider the problems relating to career plannfofi. ↩
- Shri S.H. Dalai 55. Shri Gurngobinda Basu Shri Asit Kumar Adhya 56. Shri Mulkh Raj Khanna Shri Mithalal C, Jain 57. Shri S.B. Dandckar Shri T.K. Goklaney 58. Shri A. Ramaswami Ayyangnr Shri B. Pudmanabha Iyer 59. 1 [0312 5. Shri Ahimukta Chaterjce Shri Jagdesh Chandcr Bhatiu 60. ] 11066 Shri K.S. Kshirasagar Shri Barendra Mohan Sen 61. 1 [J042 Shri J.D. Surti Shri T.O. Baskar 62. J 17906 Shri Jintendranath Gupta Shri K. Krishna Kumar 63. i 18935 Shri B.M, Mehta Shri D.K. Gupta 64. 1 50010 Shri Jainaravan Vnith Shri R.K. Qarg 65. B0852 ↩