REGISTERED No. D. (D.N.)-72
The Gazette of India
EXTRAORDINARY
PART III—Section 4
PUBLISHED BY AUTHORITY
No. 13] N EW DELHI, FRIDAY, SEPTEMBER 30, 1983/ASVTNA
Separate Paging is given to this Part in orderthatitmaybefiledasaseparate
compilation
847 GI/83
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43 44 THE GAZETTE OF INDIA : EXTRAORDINARY [PART HI-* SEC. 4]THE INSTITUTE OF CHARTERED ACCOUNTANTS OF INDIA
NOTIFICATION
New Delhi, the 28th September, 1983
(Chartered Accountants)
1 CA(5)034|83.—In pursuance of Sub-section ,<5) of Section 18 of the Chartered Accountants Act 1949, a copy of the Report and the Audited accounts of the Council for the year ended 31st March, 1983 is hereby published for general in- formation.
34TH ANNUAL REPORT OF THE COUNCIL FOR THE YEAR ENDED 31ST MARCH, 1983
In accordance with the provisions of Section 18(5) of the Chartered Accountants Act, 1949, the Council has pleasure in presenting its 34th —Annual Report. The Report not only covers the activities of the Institute for the year ended 31st March, 1983 but also refers to its significant acti- vities up to the date of this report.
Shri G.P. Kapadia, the first President of the Institute expired on 1st January, 1983. He was the founder of the Institute and adorned the Chair with great distinction for a period of three years, from 1949 to 1952. He was a doyen of the pro- fession and a giant among his contemporaries. More than anybody else, he was responsible for organising the accounting profession in its auto- nomous form and raising its stature to its present heights. • It was his vision and foresight which laid solid foundation on which the profession's edifice has been built. His great love and affec- tion for the profession can best be illustrated by his own words in the message sent by him to the Institute on the occasion of the 100th meeting of the Council :—
"I adore my profession, T salute mv Institute. The public image of the profession will be made up by the impact made by the
45professional conduct of everyone in the profession and the extent to which he is accepted for his objectivity and inde- pendence apart from his technical exper- tise. It is more the capacity and exper- tise of an average member of the Insti- tute that is going to determine the capa- bility generally as also the professional flavour around".
The Council at its meeting held on 22nd Fel> ruaiy, 1983, placed on record its deep sense of appreciation for the services rendered by Shri Kapadia as the first President of the Institute and conveyed its sincere condolences to the grieved family.
Condolence meetings were held in Bombay and various other places in the memory of the depart- ed soul.
The Council has decided that the National Aca- demy of Accounting which it proposes to set up shortly should be named after late Shri G. P. Kapadia. A bronze or marble bust of the late Shri Kapadia would be installed at the Institute's premises at New Delhi and his portraits would be placed at the offices of all the Regional Councils.
, 1. THE COUNCIL
1.1 Members of the Council and of its various
Committees
The 1 lth Council held office till 16th September, 1982 and the 12th Council, which consists of 24 members of the Institute elected from 5 region- al constituencies and 6 members nominated by the Central Government, was constituted on 17th September, 1982. The composition of the two Councils and their committees for the period from 1st April, 1982 to 16th September. 1982 and 17th September, 1982 to 31st March, 1983 is given in Appendices I and II respectively.
1.2 President and Vice-President
Shri Bansi S. Mehta and Shri Ashok Kumbhat continued as President and Vice-President respec- tively until 16th September, 1982. With the cons- iltution of the 12th Council on 17h September, 1982, Shri Ashok Kumbhata and Shri P. N. Shah were elected President and Vice-Pr^skkru respec- tively for a term of one yea* commencing trom that date.
1.3 Council Meetings
y (a) During the year 1982-83, the Council held five meetings—the first on 22nd, 23rd and 24th July. 1982: the second on 13th, 14th, 15th and 16th September, 1982; the third on 17th Sep- tember 1982; the fourth on 22nd, 2_Vd and 24th December, 1982 and the fifth on 22nd February 1983.
(b) The meeting held iit July, 1982 WHS the lUOth meeting ot the Council and at a special function held on 22nd July, 1982, it was inaugu- rated by Hon'ble Shri Jagannath Kaushal, Union Minister ot Law, Justice and Company Affairs in Vigyan Bhavan, New Delhi. Apart from the Council members, present on the occasion were the Past President and the Past Secretaries of the Institute, the President of the Institute of Charter- ed Accountants of Sri Lanka and the President of the Institute of Cost and Works Accountants of India and the Institute of Company Secretaries of India. To mark the occasion, the July 1982 issue of the "The Chartered Accountant" was brought out as a special number and was released by the Hon'ble Minister. A commemorative dinner was held on the 22nd July, 1982 night at which Shri N.A. Palkhivala, the eminent jurist, was the guest speaker.
(c) The fifth meeting held on 22nd February, 1983 was specially convened for the purpose of discussing the directive dated 24th January, 1983 issued by the Central Government under Section 30(A)(1) of tlM Chartered Accountants Act, 1949, requiring the Institute to amend Regulation 32B.
2. INTERNATIONAL RELATIONS
2.1 International Affairs Committee
Having regard to the growing involvement of the institute in international affairs, it was recom- mended by the Review Committee appointed by the Council in September, 1981 that a proper forum should be established. In accordance with this recommendation, the Council has appointed an International Affairs Committee under the chair- manship of the President. The Committee will maintain liaison with various international bodies and oversee al1 organisational arrangements aris- ing out of the membership of such bodies. The Committee will also deal with opening of Chapters of the Institute outside India and maintaining liaison with them: co-ordinate with the technical committees of the Council to ensure speedy techni- cal responses to exposure drafts and other state- ments received from international organisations and deal with reciprocal recognition of qualifica- tions.
2.2 International Federation of Accountants
(IFAC)
(a) The Institute continued to be a member of (the ThletrtiatfonaTj Federation of Accountants (IFAC) and India continued to occupy its position as an elected member of the Council.
(b) Shri B. L. Kabra (Past President of the institute) continued to represent India on the Council of the IFAC.
fc) Shri Y. H. Makgam (Past President of the Institute) continued as the Indian representative •on the International Auditing Practices Committee of the IFAC.
46 THE GAZETTE OF INDIA : EXTRAORDINARY [PART IH—SEC. 4](d) Shri Bansi S. Mehta (Past President of the Institute) continued as the Chairman of the Edu- cation Committee of the IFAC.
(c) Mr. Washington SyCip, the President of the IFAC, paid an official visit to India in March, 1983. A number of functions were arranged in his honour.
2.3 The International Accounting Standards
Committee (IASC)
The Institute continued to be a member of the
International Accounting Standards Committee.
2.4 Confederation of Asian and Pacific Account-
ants (CAP A)
India continued to be represented on the Exe- cutive Committee of the CAPA through our sister instituted—The Institute of Cost and Works Ac- countants of India.
2.5 3rd National Conference of ICA of Sri Lanka
The President and the Secretary attended the 3rd National Conference of Chartered Accountants of the Institute of Chartered Accountants of Sri Lanka-held in Colombo between 2nd and 4th December, 1982.
2.6 Sub-regional body of accountancy institutes
The idea of forming a sub-regional body of accountancy institutes of the Indian Sub-continent was mooted by the President. Shri Ashok Kumbhat, at the 3rd National Conference of Chartered Ac- countants of Sri Lanka held in December, iy82. He pointed out that the countries in the region had a common heritage and culture and had similari- ties in trade practices legal systems and economic conditions. Moreover, the problems facing them were similar. The profession of accountancy in these countries, which were under the political sway of the same nation until their independence, was linked by common bonds. He, therefore, stated that the time had come when serious considera- tion should be given to 1he formation of a sub- regional body composed of the accountancy bodies of the sub-continent.
(b) Shri P.M. Narielvala (Past President of the Institute) contributed a paper on "The Auditor in the Computer Environment" for the Congress.
2.8 10th CAPA Conference
(a) Venue and Dates
As mentioned in the last report, the Institute of Chartered Accountants of India (ICAI) and the Institute of Cost and Works Accountants of India (ICWAI) are jointly hosting the 10th CAPA con- ference in New Delhi from 21st to 25th November, 1983. This International conference is being held in India after 18 years.
(b) Conference Committee
A Conference Committee consisting of repre- sentatives of ICAI and ICWAI has been appointed for conducting the conference.The Conference Committee, in turn, has appointed the following committees to assist it in this task: —
1. Budget and Finance Committee
2. Technical Commfttde
3. Delegates Committee
4. Publicity & Publications Committee
5. Entertainment & Social Committee
A Ladies Sub-Committee has also been consti- tuted to organise programmes for the ladies ac- company the delegates.
The composition of the Conference Committee and its constituent committees is given in Appendix HI.
(c) Theme of the Conference.
"The Accountant in Society" is the theme of
the Conference.
(d) Technical Sessions
The theme of the Conference will be expounded through three topics and under each topic two paper Will be discussed. Two commentators from member countries will monitor the discussions on each paper.
The details of Papers, Paper writers, Commeni- ators and Chairman of Technical Sessions are as follows:
Session
Names of
Chairmen
Papers
Names of
Paperwrtters
Names of
Commentators
3
4 Measurement
1. Measurement
1. Mr. Denis Evans (Hong Kong)
of
Productivity
Mr. Shlgeo Aoki (Japan)
Mr. B l. Kabra (India)
47 3 4 1 22. Assoc.Prof. Han Kang Hong (Singapore)
2. Social Cost Benefit Analysis
Mr. Luis C. Diaz (Philippines)
1. Mr. P.M. McCaw (New Zealand) 2. Mr. Z.U.Ahmed (Bangladesh)
Management
1. Pricing
Decisions
1. Mr. William Mr. John E. Langdon O. Miller (Canada) (Australia) Mr.N.R. Shroff (India)
2. Mr. Julito O.
Soriano (PhiHprineg)
2. Management Mr. Robert J. Donachie (USA)
1. Mr.L.R. Watawala (Sri Lanka) 2. Dr. K.A. Saced under Conditions of Uncertainty
(Pakistan)
Environment
1, Mr. B.S.Mehta Ms. 1. Fiscal
(India) Cynthia
2. Dr. S. Subiyano Mr. M.M. Abdullah (Pakistan)
Policy for Economic Growth
various non-standing committees of the Institute during the Council year, i.e., 17th September, 1982 to 16th September, 1983.The review does not include the activities of the period from 1st April, 1982 to 16th September, 1982 which have already been included in the report for the year ended 31 st March, 1982. It does not also include details of the activities of the Regional Councils and their branches,
3.2 Accounting Standards Board
(a) The following Accounting Standards finalis- ed by the Board were issued under the authority of the Council :—
(i) Accounting Standard-4 on "Contingencies and Events Occurring after the Balance Sheet Date" (AS-4).
(ii) Accounting Standard-5 on "Prior Period and Extraordinary Items and Changes in Accounting Policies" (AS-5).
(iii) Accounting Standard-6 on "Depreciation
Accounting" (AS-6).
It may be recalled that following the issuance of the Preface to the Statements of Accounting Standards in January 1979 the Board had already issued the following three Accounting Standards:
Panitchpakdi (Philippines)
(Thailand)
1. Mr. O.C.B.
2. Towards a
Wijeyesinghe (Sri Lank)
Mr. L. Garnsworthy (Australia)
2. Mr. W.G. Cox (New Zealand)
More Realistic Code of Ethics
(e) Key-note addresses
Three distinguished persons are being invited to deliver key-note addresses at the commencement of the three Plenary Sessions.
(f) Inaugural and Concluding Sessions
The Inauguration of the Conference is scheduled to take ptace in the forenoon of 21st November and the Concluding Session in the afternoon of 25th November, 1983.
(g) Social and Cultural Events
A number of social and cultural events arc be- ing organised in connection with the Conference.
(h) About 1500 delegates and 500 accompany- ing persons are expected to participate in the Conference,
3. PROFESSIONAL DEVELOPMENT ACTI-
VITIES
3.1 General
The following paragraphs give a brief review of the professional development activities of the (i) Accounting Standard-1 on "Disclosure of Accounting Policies (AS-1)—November, 1979.
(ii) Accounting Standard-2 on "Valuation of Inventories" (AS-2)-—June, 1981.
(iii) Accounting Standard-3 on "Changes in Financial Position" (AS-3)—June, 1981.
(b) The Board has issued a Guidance Note on
"Terms Used in Financial Statements".
(c) The Board issued the Exposure Draft-7 on "Accounting for Construction Contracts" in April, 1983 for public comments. Based on the comments received, it has been finalised for issue as the seventh definitive Accounting Standard.
(d) A Discussion Draft on "Accounting for Research and Development" finalised by the Board had been circulated among the selected bodies and Council Members for comments. After taking into consideration the comments received, an Exposure Draft on the subject will be issued for public comments.
(e) Another Discussion Draft on "Accounting For Fixed Assets" is being finalised by the Board for restricted circulation and comments. After taking into consideration the comments received, r\ Exposure Draft on the subject will be issued for public comments.
48 THE GAZETTE OF INDIA : EXTRAORDINARY [PART III—SEC. 4](f) Draft Accounting Standard on "Revenue Recogn. .^i" is under formulation by the Board.
(g) With a view to help the members in adopt- ing the Accounting Standards in the preparation and presentation of financial statements, a Guid- ance Note on "Disclosure of Accounting Policies" (AS-1) is being finalised for issue.
(h) The Board has also taken up the prepara- tion of the Guidance Note on "Valuation of Inventories."
(i) To propagate the Accounting Standards, the
following measures have been taken .-
(1) Discussions on Accounting Standards issued by the Institute were arranged in the Continuing Education Programmes organised by the Institute, Regional Councils, Branches and Students' Asso- ciations.
(2) The Board is in communication with universities, business management insti- tutes and public and private sector orga- nisations with a view to keep them infor- med about the issuance of the Standards and their utility.
(3) A workshop was organised in New Delhi on the Iruplmentation of Accounting Standards. This workshop was attend- ed by representatives of industry, gov- ern mont, CBDT and others.
3.3 Auditing Practices Committee
fa) The Auditing Practices Committee was set up by the Council of the Institute in September, 1982 with a view to review the existing auditing practices in India and also to develop Statements on Standard Auditing Practices (SAPs).
(b) The Committee finalised the Preface to the Statements on Standard Audi tine; Practices contain- ing ifs scope and functions and also the procedure to be followed in the formulation of SAPs. This was issu?cl under the authority' of the Council in June, 1983.
(c) Four Study Groups, one each at Delhi, Madras, Calcutta and Bombay, have been set up for the purposes of preparing preliminary drafts of the Statements on Standard Auditing Practices and Guidance Note on the basis of the International Auditing Guidelines issued by the International Auditing Practices Committee (IAPC) of the TFAC and the existing Statement on Auditing Practices.
(d) A Study Group has been constituted at Calcutta for preparing the initial responses to the various documents issued by Ihe different Com- mittees of the Inernational Federation of Accoun- tants (IFAC). Based on its initial responses, the final comments of the Institute were forwarded to the IFAC,
(e) Chapter 3 of the existing Statement on Qualifications in Auditor's Report has been modi- fied to the effect that all qualifications to accounts are given at one place Le., in the auditor's report itself, in order to give the reader a clear view of the qualifications of the auditor, and that the auditor should quantify, wherever possible, the effect of the qualifications on the financial state- ments in a clear and unambiguous manner. The modified version of the aforesaid Chapter has been published in the* September, 1983 issue of our Journal for the information and guidance of members.
(f) Other proejets on hand :—
(1) Study on "Negative Opinion and Total Disclaimer of Opinion in Audit Reports in IhdV'.
(2) Study on "Letter to Management by an
Auciitor*.
(3) Study on "E.D.P. and Auditing".
(4) Revision of the publication titled "Audit
of Banks."
3.4 Research Committee
(a) Published Literature The following Guidance Notes ]Guidlines were
published during the year :—
(i) Guidance Note on "Accountants" Report on Profit Forecasts andjor Financial Forecasts".
(ii) Guidance Note on "Accounting for Chang-
ing Prices".
(iii) Guidelines on Internal Audit—Jute In-
dustry.
(iv) Guidelines on Internal Auditing,
(V) Guidance Note on "Accounting Treatment of Reserves in Amalgamations."
(b) Under Print
The following publications are under print :—
(i) Monograph on "Accounting for Rubber
Plantations".
(ii) Monograph on "Accounting for Agricul-
tural Operations".
(iii) Monograph on "Accounting for Live-
stock".
(iv) Research Study on ''Project Evaluation in the context of Requirements of Indian Financial Institutions".
(c) Under Finalisation:
Guidance Notes|Guidelines under finalisation:—
(i) Accountants' Guide to Central Excise
Duty.
49(ii) Guidance Note on '"Audit Reports and Certificates for Special Purposes."
(iii) Guidelines on "Internal Audit—-Tea In
dustry."
(iv) Zero Base Budgeting
(v) Accounting & Auditing Technical
Guides on :
(a) Automobile Industry
(b) Fertiliser Industry, and
(c) Drug and Pharmaceutical Industry.
(d) Projects on Hand ;
(i) Study on lLUse of Financial Information for Determination of Sickness in In- dustry.
(ii) "Tax Treatment of Gratuity",
(iii) Guidelines on Internal Audit :
(a) Textile, and
fb) Sugar Industries
(iv) Statistical Sampling Techniques—An aid
to Audit Practices.
(v) Guidelines on "Valuation of Unquoted
Shares".
(vi) Studies on :
(a) MRTP Act
(b) Effects of Inflation on Corporate
Finance
(c) Foreign Exchange Regulations Act
(d) Customs Act "
(e) Insurance Audit ; LIC and GIC
(f) Internal Audit of Banks
(g) Audit of Public Trusts
(h) Hospital Accounting and Manage-
ment Control Systems.
(e) Revision of Existing Publications ;
Revision of the following existing publications
has been undertaken :—
(i) Publication titled ''Price Fixation In Indian Industries" in collaboration with the Indian Merchants' Chamber.
(ii) Precedents in Published Accounts
(iii) The Payment of Bonu sAct, 1965—An
Accountant's Study
(iv) Technical Guide for Audit of Education-
al Institutions
(v) Technical Guide for Audit of Co-opcrattvc
Societies.
847 G1/83—7
(I: Study Groups Formed :
(i) Study Group at Bombay for preparing comments on draft International Ac- counting Standards.
(ii) Study Group at Bombay to prepare Gui- dance Note on Audit of Share and Stock Brokers.
fin) Study Group at Delhi to review the "For- mats of Financial Statements of Insu- rance Companies".
(g) Representations forwarded to outside Bodies :
(i) Views of the Institute on the question- naire issued by the Expert Committee appointed by the Reserve Bank of India on Exchange Control Regulations relating to Export & Imports.
(ii) Views of the Institute to the Committee of the R. B. I. to review the working of the Credit Authorisation Scheme,
(h) Shield Panel :
1. (a) Silver Shield for the best presented ac- counts of companiesjnon-finuncial statutory corporations.
The Shield Panel of the Institute adjudged the Annual Reports and Accounts of Bharat Heavy Electricals Limited for accounting year ended 31st March, 1982 as the BEST PRESENTED AC- COUNTS and awarded the Silver Shield.
(b) Plaques for the highly commended accounts:
The Shield Panel also selected the Annual Reports and Accounts of tho undernoted compa- nies as highly commended accounts and awarded high commendation plaques to them :—
Escorts Limited
(for the accounting year ended on 31-12-1981)
Hindustan Aeronautics Limited
(for the accounting year ended on 31-3-1982)
Oil & Natural Gas Commission (for the accounting year ended on 31-3-1982)
(The listing of companies above is alphabetical and does not denote any ranking on the basis of merit).
2. Silver Shield for the Best Presented Accounts
of Financial Institutions and Banks:
The Annual Report and Accounts of banks and .financal institutions were reviewed by the Shield Panel and the Silver Shield for the BEST PRE- SENTED ACCOUNTS undsr this category was awarded to the STATE BANK OF INDIA.
(for the accounting year ended on 31-12-1981)
50 THE GAZETTE OF INDIA : EXTRAORDINARY [PART H I -S E C. 4]3. Plaque for highly commended accounts of entities like Public Trusts, Co-operative So- cieties, Educational institutions, etc.
The Annual Report and Accounts of the NATIONAL DAIRY DEVELOPMENT BOARD (for the accounting year ended on 31st March, 1982) were selected as the highly commended ac- counts and the plaque for the high commendation under this cutegory was awarded to it.
3.5 Professional Development Committee
(a) At the request of the Committee, the Chief Controller of Imports & Exports has agreed to constitute a small committee of senior officials of his Department for detailed discussions with the representatives of the Institute regarding difficulties being experienced by members of the Institute in the work relating to certification.
(b) In pursuance of the direction issued by the Reserve Bank of India to Scheduled Commercial Banks to have accounts of borrowers exceeding Rs. 10 lacs audited by chartered accountants, the Institute has finalised formats of audits and ac- counts report to suit the requirements of financing banks. These formats are under consideration of the Indian Banks Association. The Association has also been requested to take further action regarding implementation of the above proposal.
fc) The Committee has impressed upon the nationalised banks to utilise the services of charter- ed accountants for internal[concurrent audit, income and expenditure audit and inspection audit of their branches to a greater degree. Many of the banks have accepted the suggestion.
'
(d) The Committee is formulating general guide- lines regarding the work involved in assignments relating to internal [concurrent audits of banks par^ ticularly relating to interest, income and expendi- ture, appraisals and inspection etc. for guidance of members.
(e) At the request of the Committee, the Gov- ernment has set up a Working Group to considei matters relating to the scales of remuneration pay- able to the statutory and branch auditors of public sector banks, more particularly to consider the scope of central audit and evolve suitable norms for audit fees payable to statutory auditors; to consider the scope of branch audit and evolve suit- able norms for fees payable to branch auditors and to examine the norms relating to reimbursement of travelling and halting expenses of auditors. Shri P. N. Shah, Vice President of the Institute, has been nominated as a member of the Working Group.
(f) A committee for Members in Industry has been constituted to consider inter alia matters affecting all members in service and in particular to consider problems relating to career planning, ethics and their involvement in the activities of the Institute. The Committee has also been assigned the task of exploring and developing fresh avenues of employment for members. The members of the above committee have mainly been drawn from the Industry.
(g) Two residential courses on Internal Audit were organised at Suraj Kund in January, 1983 and at Goa in April, 1983.
(h) An All India Conference on Internal Audit was held on 3rd & 4th September, 1983 at Cal- cutta and 12 papers on different aspects of internal audit function were discussed in four technical sessions.
(i) The Committee has represented to State Gov- ernments that the audit work of Co-operative So- cieties be enl rusted to chartered accountants to en- sure greater financial discipline,
(j) At the request of the Committee, the Reserve- Bank of India has agreed for allotment of audit of the branches of Nationalised Banks to sole pro- prietary firms of chartered accountants and update its panel. The Institute has offered its assistance in providing information required by RBI for pre- paring panel for branch auditors of Nationalised Banks.
3.6 Company Law Committee
(a) All India Seminar on Company Law was organised at Bombay. The theme of the Seminar was "Corporate Legislation—Challenges of the Eighties". Shri K. S. Bhatnagar, Secretary, De- partment of Company Affairs, Union Ministry of Law, Justice & Company \fluirs, delivered the key-note address at the inaugural function.
(b) A three days Residential Course on "Com- pany Procedures and MRTP Procedure" was or- ganised at Fisherman's Cove. Madras.
(c) At the instance of the Advisory Committee on Capital Issues which is greatly concerned with the phenomenon of high servicing cosr of share- holders incurred by companies, the Institute or- ganised workshops at four metropolitan cities in the country on the subject. Based on the discus- sions at the workshops, the Institute submitted a memorandum to the Advisory Committee on Capi- tal Issues Control for its consideration.
(d) The Company Law Committee has finalised a draft memorandum on simplification of Company Law for submission to the Government.
fe) The Company Law Committee has finalised a list of matters to be discussed with the Depart- ment of Company Affairs.
(f) The Committee has answered a number of queries regarding Companies Act interpretation.
51(g) The revised edition of the Guidance Note on Companies (Acceptance of Deposits) Rules, 1975 has been printed.
3.7 Taxation Committee
(a) Four one-day Seminars on Taxation were held at Rajkot, Bhopal, Bhubaneswar and Ludbiana.
(b) A two-day Seminar on Taxation was held
at Ahmedabad.
(c) The Sixth Residential Course on Taxation was held at Ooty from 31st August, 1982 to 3rd September, 1982.
(d) The 15lh All India Seminar on Taxation was held at Madras on 13th and 14th August, 1983, with 'General Legal Principles and Tax Laws' as its theme. It was inaugurated by Hon'ble Justice V. Ratnam of the Madras High Court. Shri D. C. Kothari Chairman and Managing Director of Kothari ("Madras) Ltd., addressed the Concluding Session of the Seminar.
(e) As usual, Pre-Budget and Post-Budget Memorandum were submitted to the Finance Minis- ter, and the representatives of the Institute also held discussions with the officials of the CBDT in this regard. Some of the suggestions made have found acceptance in the Finance Act, 1983.
(]) The difficulties caused by the interpretation of the provisions of Section 32A of the Income Tax Act in such a way as to deny the investment allowance to plant and machinery installed in in- dustrial undertakings engaged in proceeding activi- ties were pointed out in the CBDT in another representation. The CBDT was requested to take appropriate remedial measures.
3.8 Continuing Professional Education Committee
(a) Under the Continuing Education Program- me the following seminars and courses were orga- nised during the year :—
Programme
Place
Date
New Delhi
10 Inhousc Programme on 'Costing in Decision Making' for STC
10th & 11th September, 1982
Cochin
(ii) Seminar on "Project Planning1'
10th October, 1982
New Delhi
(iii) Seminar on 'Management Information Systems and Role ofEOP in Business'
12th & 13th December, 1982
Madras
Civ) Seminar on 'New Dimen- sions of Auditing' ,
15th & 16th January, 1983
New Delhi
(v) Programme on 'Financial Management & Management Accounting'
31st January 1983 to 20th February, 1983
New Delhi
(f) The publications on "Taxation of Charitable Trusts" and 'A gnide to Audit of Public Trusts' under the Income Tax Act, have been revised.
Representations Submitted:
(g) A representation was made to the Finance Minister for the amendment of the provisions of Section 139 of the Income Tax Act to make it compulsory for persons carrying on business and profession with total sales|turnover[receipts exceed- ing certain Jimits that may be specified, to submit along with their return of income, a report by a Chartered Accountant of the audit of accounts on which such returns are based.
(h) A representation was made to the CBDT for the removal of the disparity in the value of stamps to be affixed by the two categories of professional representatives—lawyers and Chartered Account- ants.
(i) A representation was made to the CBDT pleading for the extension of the applicability of Ihe exemption in respect of interest on Capital In- vestment Bonds under Section 10(15)(iib) of the Tncome-tax Ad, and the exemption in respect of ;;ift of such bonds under Section 5(1) (iiic) of the < 'iift-tax Act, to Goan assessees married under the .;vstem of the community of property as prevalent there.
Inhouse Programme on 'Modern Concepts in Finan- cial Management' for S.T.C.
7th to 9th February, 1983
Chandigarh
(vii) Seminar on 'Accounting Standards and Taxation'
13th February, 1983
Srinagar
(viij)
3rd to 8th May, 198J Residential course on 'Corporate Financial Management' in collabora- tion with the All India Management Association
Bangalore
(ix)
21st & 22n
Hyderabad
(x)
4(h& 5th June, 1983 Seminar on 'Tax Manage- ment—some Issues' in collaboration with the Institute of Company Secretaries of India
Bombay
(xi)
16th & 17th July, 1983 Seminar on 'Management Accounting & Corporate Strategy'
New Delhi
(xii)
1st August, to 26th August, 1983 Inhouse Programme on 'Working Capital and Income-tax Modules' for NT PC Officers
BaroJi
Cxiii)
14th August, 1983 Seminar on 'Management Audit and Accounting Standards'
52 THE GAZETTE OE TNDIA : EXTRAORDINARY [PART III-SEC. 4](b) Examinations of the Management Accountancy Course (Part I) were held in November, 1982 and May, 1983. The summarised results of the exami- nations held in May, 1982, Nov., 1982 and May, 1983 are given in Appendix TV.
(c) Examinations of the Corporate Management Course were held in November- 1982 and May, 1983. The summarised results of fhe examinations held in May, 1982, November, 1982 and May, 1983 are given in Appendix V.
(d) Merit scholarships, of Rs. 500 each were granted to 10 candidates for purchase of books under the incentive schemes of the Management Accountancy Course.
(e) Since September, 1982, 4 issues of the Management & Economic Quarterly have been brought out.
(0 The number of candidates registered for prac- tical training under Part II of the Management Ac- countancy Course during the financial year was 15.
(g) Shri R. J. Masalawala (M. No. 12826) com- pleted both the parts of the Management Account- ancy Course.
3.9 Expert Advisory Committee
(a) Since the last report in September, 1982, 26 fresh queries were received. Out of the 28 queries including 2 queries carried forward from last year, 21 queries have been answered 6 are under tin- alisationjconsideration and one was transferred to the Research Committee.
(b) The "Compendium of Opinions—Volume II" containing the opinions of the Committee bet- ween September 1981 and September, 1982, along- with a composite subject-wise alphabetical index on the opinions contained in Volume I as well as those of Volume 11, has been released for sale.
(c) Brief versions of important opinions of the Committee are being periodically published in "The Chartered Accountant" for information of all readers.
3.10 Ethical Standards Committee
(a) A Guidance Note under Clause (9) of Part 1 of the First Schedule to the Chartered Account- ants Act was published in the March 1981 issue of the Institutes Journal. After the issue of the said Guidance Note the Department of Company Affairs issued a circular dated 17-10-1981 stating that it was advisable that the copy of special notice under Section 225(2) of the Companies Act should be sent to the retiring auditor by registered acknow- ledgement due post. Tn the light of the said cir- cular, the Guidance Note issued under Clause (9) was amended. The amended Guidance Note was published in the September 1982 issue of "The Chartered Accountant".
(b) The Department of Company Affairs of the Central Government accepted the suggestion of the Institute that the appointment of auditors in the case of public sector companies should be made as early as possible to enable the incoming auditor to discharge his professional obligation of communi- cating with the previous auditor and in cases where there was no time for such communication the incoming auditor might be permitted to give a conditional acceptance of the appointment and commence the work making it clear to the client that his formal acceptance would follow later, after communicating with the previous auditor. A note was accordingly published for the information of members in the May 1983 issue of "The Chartered Accountant" that in the case of audit of govern- ment companies if the appointment was made well in time to enable the obligation cost under Clause (8) of Part I of the First Schedule to the Act to be fulfilled, such obligation must be complied with before accepting the audit. However, in case the time schedule given for the assignment was such that there was no time to wait for the reply from the outgoing auditor the incoming auditor could give a conditional acceptance of the appointment and commence the work which needed to be attend- ed to immediately making it clear to the client that his acceptance would follow later after he had been able to communicate with the previous auditor in accordance with Clause (8). It was clarified in this connection that the communication with the previous auditor was necessary even in a case where the previous auditor happened to be an auditor for a year other than the immediately preceding year.
?i.ll University Liaison Committee
(a) During the year 3 new endowments of Rs. 3,000 each were given to Jammu, Lucknow and North Bengal Universities for instituting an- nual prizes for the best candidates in the B. Com. examinations held by these universities. Such en- dowments have so far been made to 12 universities (including university of Madras for awarding a Gold Medal).
The Committee has prepared a new set of conditions under which the book prize awarded by a university should consist of books on account- ancy and allied subjects. The universities would also be required to indicate the name and address of the recipient of the prize so that the person receiving the prize can be felicitated and apprised about the activities of the Institute.
The council has recently raised the endowments to Rs. 5,000 each in the case of Bombay and Madras universities for 1983-8-4. With an equal contribution from local Chartered Accountants of these places, it would be possible to ma"ke endow- ments of Rs. 10,000 each to these universities. Similar increases have been sanctioned for seminars at these two places.
(b) So far IS universitcs have recongnised the Chartered Accountancy Course for admission to the Ph.D. Courses. The matter is being pursued with several other universities.
(c) A Seminar under the auspices of the Com- mittee was held in collaboration with the univer- sity of Mad.as on 27th and 28th August, 1983.
(d) A brochure entitled "Profile of the Pro- fession" issued by the Institute is being translated into 5 regional languages viz. Gujarati, Tamil, Marathi, Teluga and Hindi.
3.12 Committe for dealing with cases of unjusti-
fied removal of auditors.
Five cases where unjustified removal of audit- ors was alleged came up before the Committee during the year. These were considered by the Committee in the light of the procedure settled by the Council. The Committe found that in none of the cases, any action was required to be taken under the guidelines laid down by the Council.
3.13 Editorial Board
(a) The journal "The Chattered Accountant" continued to be supplied free of charge to members. The annual subscription rates of Rs. 15 for articled|audit clerks and commerce graduates studying in colleges and Rs. 50 for non-members, remained unchanged during the year.
(b) A number of innovations have been made in the journal during the year. A number of new features have been introduced.
(c) The Editorial Board awarded the following prizes for the best articles contributed to the Jour- nal during the period July, 1980 to June, 1981 (Vol. XXIX) and July, 1981 to June, 1982 (Vol. XXX).
1. July 1980 to June, 1981 : (Vol. XXIX):
(i) Main Section
First Prize : Rs. 1,500 to Shri M.P. Chitalc, Bom- bay for his article 'Finance for Industry' published in January, 1981 issue.
Second Prize :Rs. 1,000 to Shri K. R. Ramakrish- nan, Madras, for his article 'Electronic computers and the Data Processing Sys- tems' published in March, 1981 issue.
Third Prize : Rs. 500 to Shri R. M. Setty, Bombay for his article 'Proposed Amendments to Section 80J of the Income-tax Act, 1961—its Pationality and Validity' pub- lished in September, 1980 issue.
(ii) Students' Section
Rs. 500 awarded to Shri V. Narayanan, New Delhi, for his article 'Bonus as a Deductable Ex- penditure' published in November, 1980 issue.
M
2. July, 1981 to June, 1982 (Vol. XXX):
(i) Main Section
First Prize : Rs. 1,500 to Shri Nazimuddin Ahmad, for his article "This Business of Time Management" published in July, 198] issue.
Second Prize : Rs. 1,000 to S[Shri N. G. Bapat and B. B. Eksinge for their article '"Cod- ing of Accounts" pubished in December 1.981 issue.
Third Prize : Rs. 500 to Shri Vinod Kumar for his article 'Prediction of Industrial Sickness -—Need of the Hour" published in Janu- ary, 1982 issue.
(ii) Students' Section
Rs. 500 awarded to Shri K. V. Satwick for his article "Decision-making" published in January, 1982 issue.
4. OTHER MATTERS
4.1 Government directions under Section 30A(l)—•
Payment of stipend to article clerks
Regulation 32B was introduced in the Chartered Accountants Regulations, 1964, in June, 1973, and provided that a minimum stipend at the rates spe- cified should be paid to all articled clerks engaged on or after 1-7-1983, by the members engaging them. The rates were, Rs. 60 for ths first year, Rs. 100 for the second year and Rs. 150 for the balance period of articles, to those serving at ihe live regional headquarters at Bombay, Madras, Calcutta, Kanpur and Delhi [New Delhi, and at half the rates to those serving at other places. Before this date, the stipend was being paid on a voluntary basis.
At the 73rd meeting of our Council held in September, 1975, a Review Committee for Ac- counting Education was set up to review the exist- ing system of education, training, system of exami- nations, etc. and to make suitable recommendations to enable the chartered accountants to adequctely face the changing environment, new challenges and problems of the future. The Committee submitted its report and recommendations in the middle of 1978.
One of the matters considered by the said Com- mittee related to the rates of stipend payable to articled clerks. The Committee recommended that the existing rates be revised upward by about 20 per cent and this was accepted by the Council.
At the 98th meeting of the Council held in December, 1981, the rates of stipend were review- ed and it was decided that there should be a three-
54:: THE GAZETTE OE INDIA : EXTRAORDINARY [['ART HI—SEC. 4]tier classification of. the cities and the rates of stinemd should Iv enhanced as under :
Situation of the norm il place of service of the articled clerk
During first year of training
During remaining period of training
During second year of training
(a)
Rs, 225 I Cities of Bombay, Madras, Calcutta and Delhi/New Delhi
Rs. 150
Rs.yo
(b)
Rs. 150
Rs. 100
Rs. "
i Cities other Ihun tli.isc spceilieJin (a) above, with ;i population of OHO million and ab.n'e
(O
Rs. 100
Rs. 15
Rs. 50
Places other th tn those covered by (a) A(b) ubovo
Draft amendments to Regulation 32B on the above basis were notified in January, 1982, and forwarded lo the Government for approval in January, 1982, with the comments received there- on. While examining the above proposal, it was indicated by the Government that the rates proposed by the Council in the said notification were not acceptable to them.
The whole issue was, therefore, considered again by the Council at its 103rd meeting held in Decem- ber, 1982, The Council decided that the following revised rates be substituted for the rates originally proposed :
Situation of the normal place of service of the articled clerk
Juring ;econd car of training
During 1 first s yetrof j training
During remain- ing period of training
(a) Cities of Bombay,
Rs, 120 I
Madras, Calcutta and Delhi/New Delhi
Is. 200 Rs. 300
Rs. 90 N
Rs. 225
ts. 150
(b) Cities other than those Npecified in (a) above with a population of one million and above
RK.IM)
Rs. 60 1
(c) Places other than those covered by (a) &. (b) above
A communication was accordingly sent to the Government incidentally pointing out that these rates represented a 100 per cent increase over the existing rates.
However, the Government has not accepted the revised proposal and, by virtue of the powers vested in them under Section 30AO) of the Char- tered Accountants Act, 1949, has directed the Council to amend Regulation 32FU2) of the Char- tered Accountants Regulations, 1964, to provide for payment of stipends to articled clerks at the rates set out below, effective from 1-4-1983.
Situation of the normal place of service of the articled clerk
During ikst year of training
During second year of training
During remain- ing p:riod of training
(a) Cities with a population of two millions and
Rs.200
Rs. 450
Rs. 300
above Places other than those covered by (aj above Rs, 100 Rs, 150 Rs. 225
The Government has further directed that an additional stipend of Rs. 50 should be paid to such of those articled clerks who had qualified in the Intermediate Examination.
A special meeting of the Council was convened on 22nd February, 1983, to consider the above directions "of the Government. In the meanwhile, a writ petition was filed by some of the chartered accountants of Madras, against the Union of India represented by the Secretary. Ministry of Law, Justice and Company Affairs and the Secretary, Institute of Chartered Accountants of India, with a prayer that the Council of the Institute be restrai- ned from holding the meeting of February 22, 1983, till the writ petition challenging the direc- tive is disposed of. The writ petition was admitted by the High Court which passed orders permitting the meeting to be held but directed that any deci- sion taken therein should not be communicated or implemented until further orders are passed by the Court. The meeting of the Council was accord- ingly held. As the matter is sub-iudice, no further action could be taken. A similar petition has been filed before the Karnataka High Court.
4.2 Review Committee
fa) The Council at its 97th meeting held in Sep- tember, 1981 appointed a Review Committee with the following terms of reference :—
(i) to identify the aims and objectives of the Institute, having regard to the governing statute and regulations and the current and evolving environment in which the profession operates.
(ij) wiih a view to better subserve the fore- going aims and objectives, to broadly review the plans, organisation, practices and procedures of trie Institute (exclud- ing education and training aspects).
(b) The Review Committee recorded the evi- dence nf the past President. Chairman of the Regional Councils, Chairman of the Branches of (he Regional Councils, and senior officers of the Institute.
55Cc) The report of the Committee was considered by the Council at its 101st and 105th meetings held in September, 1982 and April, 1983 respec- tively. The Cornniitiec has made a number of valuable recommendations which have been ac- cepted by the Council and are being implemented. A summary of the important recommendations which are of general interest was published in June 1983 Issue of LThe Chartered Accountant'1. Copies of the complete report are available os a priced publication.
4.3 Hindi as an alternate medium for the examina-
tion of the Institute.
At its meeting held in December, 1982, the Council decided in principle that Hindi be intro- duced as an alternate medium for the examinations of the Institute. A Hindi Committee was consti- tuted to go into all the aspects of this question in- cluding the infrastructure, logistic, preparation of study materials, suitability of text-books, desir- ability of imparting coaching by the Board of Studies in Hindi, etc. The report of the committee has been submitted to the Council.
4.4 Committee on Public Relations
The Committee on Public Relations undertook several programmes to promote a better understand- ing of the functions of the Institute and project a better image of the profession :
(i) An extract of the 33rd Annual Report for the year ended 31st March, 1982 was published in several leading news- papers.
(ii) The publication of a newsletter was stated to "highlight the important decision taken by the Council which have public impact. It is published after every meeting of the Council and is distributed to Members of Parliament, Chambers of Commerce, Universities, various govern- ment departments, to help form informed oprnion about the activities of the Insti- tute. Three issues have since been pub- lished.
(in) The Committee has identified the following directions in which the public relations activities of the regional councils could be carried out fa) liaison with universi- ties and academic institutions; (b) liai- son with local authorities; (c) liaison with central government and state gov- ernment, bodies: (d) liason with Cham- bers of Commerce; and fc) liaison with other professional bodies.
(iv) The publication entitled 'Chartered Ac- countant and Society" was brought out in Hindi, Punjabi, Marathi and Bengali and copies were distributed through regional councils.
(v) The Committee was alive to the comments appearing in the Press about the profes- sion and the activities of the Institute and responded to such comments, vhere- ever required.
(vi) A Press Conference was held by the President at Madras on 1st Oct., 1982. Another Press Conference was held at Jaipur on 12th February, 1983.
(vii) A supplement was issued in "The Eco- nomic Times" on 1st lune, 1983 on the occasion of the inauguration of the Aca- demy of Accounting in Calcutta by Hon'ble Shri Pranab Mukherjee, Union Minister of Finance.
4.5 Codification of the Chartered Accountants
Regulations
The present Chartered Accountants Regulations came into effect on 18th July, 1964 and have thus been in force for about 19 years. The need was felt to simplify and rationalise them to imp- rove their administration; remove anomalies and inconsistencies; obviate unintended hardship and minimise procedural delays; define, clarify and delegate duties and responsibilities, where consi- dered advisable and delete or modify provisions to the extent that they have become redundant. A Codification Committee was appointed by the Council for this purpose.
Further, a large number of provisions in the present regulations had to be changed for imp- lementing the recommendations of the Review Com- miUee for Accounting Education appointed by the Council which went into the existing system of education and practical training for membership of the Institute in order to determine whether it is adequate in the context of existing requirements and anticipated changes in public expectations and the needs of the society.
To complement the work of the above two com- mittees, the Council had also appointed a Review Committee to identify the aims and objectives of the Institute and broadly review the plans and or- ganisations, practices and procedures of the Insti- tute.
The existing regulations were modified in light of the recommendations of all the three committees and a complete set of codified regulations, 1983 has been prepared to replace the regulations of 1964. These proposed regulations have been pub- lished for comments as a supplement to "The Chartered Accountant" for July, 1983,
56 THE GAZETTE OF INDIA : EXTRAORDINARY [PART H I - S E C. 4]4.6 Co-ordination Committees
(a) The Co-ordination Committee composed of the representatives of our Institute and the Insti- tute of Cost and Works Accountants of Tiiclia (1CWAI) me on 3rd September 1983 to further extend areas of co-operation between the two Insti- tutes. A Course on "Cost and Financial Manage- ment" was organised in collaboration with ICWAT on 28lh & 29th August, 1982 at Madras. The 10th CAPA Conference is being jointly organised by the two Institutes to be heJd in November 1983 at New Delhi as referred to in paragraph 2.8 of this report.
(b) The Co-ordination Committee composed of representatives of our Institute and Institute of Company Secretaries of India ([CSD also conti- nued to function. A seminar on "Tax Manage- ment—Some Issues" was organised in collaboration with ICS1 on 4th & 5th June, 1983 at Hyderabad. A meeting of the Co-ordination Committee was held on 28th May, 1983 to discuss further areas of mutual co-operation between the two Institutes.
4.7 Annual Meeting of the Institute
The 33rd Annual Meeting of the Institute was held on 16th September, 1982 at New Delhi. Hon' ble Mr. Justice V.D. Tulzapurkar of Supreme Court of Tndia, was the Chief Guest at the function. He represented shields and plaques to the compa- nies and financial institutions which had given their entries in the contest for best presented accounts, and prizes and medals to the meritorious students in the examinations of the Institute.
4.8 Library
During the year, 522 books were added to the Central Council Library at New Delhi bringing the total number of books to 18751. Increasing use of the library was made by members and stu- dents.
4.9 Representation on outside bodies
Appendix VI gives details of the Institute's rep-
resentation on outside bodies.
4.10 Members in important positions in different
walks of life
Members of the Institute, on account of their high degree of expertise and knowledge in the field of accounting and finance, have come to occupy very important positions in different walks of public life including legislative bodies, public financial institutions, nationalised and other banks, educational institutions and local authorities.
4.11 Chartered Accoutants Benevolent Fund
The Membership of the Fund increased from 1944 as at 31st March, 1982 to 2114 as at 31st March, 1983. A sum of Rs. 35,600 was disbursed duri'ig the year to members in distress or trie fami- lies of deceased members. The balance to the credit of the Fund as at 31 si March, 1983 was Rs. 1,81,133 as against Rs. 1,73,814 as at 31st March, 1982.
4.12 Shri S. Vaidyanath Aiyar Memorial Fund
The membership of the Fund increased from 133 as at 31st March, 1982 to 149 as at 3lift March, 1983. An amount of Rs. 6,000 was dis- bursed during the year by way of scholarships to students. As at 31st March, 1983, the balance to the credit of the Fund was Rs. 55,305 as against Rs. 47,678 as at 31st March, 1982.
5. MEMBERS
5.1 Membership
The membership recorded an increase of 1,964 during the year from 27541 as at 31st March, 1982 to 29505 as at 31st March. 1983. During the year, 458 associates were admitted as fellows as .compared to 779 fellows admitted in the previ- ous year. Appendix VII gives the details of the classification of the membership.
5.2 Disciplinary action
Brief details are given in Appendix VIII of the disciplinary matters where orders have been made since the last Report, by the High Courts under Sections 21(6) and 22A and by the Council under Section 21(4) of the Chartered Accountants Act.
5.3 Deceased Members
(a) The Council records with deep regret the demise during the year, of the members whose names arc listed in Appendix IX.
(b) The Council also records with deep regret the passing away of Shri S. Venkataraman, who was the first Secretary of the Institute. The Council places on record its appreciation of the services rendered by him.
5.4 Decentralisation
The work relating to the Members and Students of the Northern Region was decentralised with effect from 1st April, 1983. With this, the decentralisa- tion is complete in respect of all the Regions.
6. ARTICLED AND AUDIT CLERKS
6.1 Registration.
The following are the figures of articled and audit clerks registered during the year ended 31st March, 1983 with the corresponding figures for the previous year :•—-
1982-83 1981-82
9520 Articled Clerks Audit Clerks
9,028 219
576.2 Setting up of Branches of Students Associations
The guidelines for setting up the branches of the Students Associations have been revised, and have been published in June, 1983 issue of *he Institute's Journal.
6.3 Kc:rd of Studies
(a) The number of students enrolled during vhe years ended 31st March, 1983 and 31st March, 1982 are as under :—
Besides 20 Merit-cum-Need Scholarships, 234 Freeships and 146 Loan Scholarships were also awarded.
The scheme of awarding Scholarships has been thoroughly revised and the following types of scho- larships would be granted to the students with effect from 1st April, 1983 :—
(i) Merit Scholarships :
(a) @ Rs. 75 p.m. to 10 students for a
maximum of 18 months,
1981-82
1982-83 Courser,
9247 3020
9415 .1781 (b) @ Rs. 75 p.m. to 4 students for a maxi-
mum of 12 months.
Intermediate
Final
The total number of students on the roJls as at 31st March, 1983 was 31,041 as against 29,695 as at 31st March, 1982. The details of such enrol- ment are given in Appendix X.
(b) The first Academy of Accounting establish- ed at Madras on 1st April, 1980, has successfully held 13 sessions. The 13th Course at the Academy commenced from 1st March, 1983.
The second Academy set up at Bombay from 1st
December, 1981, has so far held three sessions.
The third Academy of Accounting at Calcutta has been set up from 10th June, 1983. It was in- augurated by Hon'ble Shri Pranab Mukherjee, Union Minister of Finance.
The performance of those Academies would be reviewed by the Council after one year. In order to improve the response of the students by way of attendance to Academy courses, the Council has decided to take the following measures in order to attract a larger number of students :—
(i) establish better public relations;
(ii) give better publicity to the aims and ob-
jectives of Academies;
(iii) to dispel the misgiving that the attendance at the Academy was not helpful for passing the examination: and
(iv) to fix the timings at the Acidemy Courses
from 4.00 P.M. to 8.00 P.M.
(c) Revision Classes for the Intermediate and Final Courses students were, as usual, conduct- ed at the regional iuid other important centres,
(d) The Regional Councils and their branches organised special courses in Business Maths and Statistics.
(e) During the year ended 31st March 1983, 14 Merit Scholarships were awarded to the students based on their performance in the Intermediate Examination held in May and November, 1982. 847 GI/83-8.
(ii) Merit-cum-Need Scholarships @ Rs. 75 p.m. to 20 students for a maximum period of 12 months.
(iii) Need-based Scholarships @ Rs. 50 p.m. to 100 students for a maximum period of 30 months.
(iv) Partial Freeships to 100 students viz. waiver of the second instalment of tuition fee or refund of Rs. 300 or Rs. 350 if the fee has been paid in lumpsum.
(f) The present tuition fee structure which has remained unchanged for nearly 10 years has been revised effective 1st July, 1983. The revised sche- dule of fee would be Rs. 750 if the fee is paid in lumpsum, and Rs. 800 if paid in two instalments.
(g) Though the Board is not providing any cor- respondence course for the students of Entrance Examination, it has prepared study material for the benefit of students. The complete set of this mate- rial was sold at a price of Rs. 75 up to the end of November, 1982 and effective 1st December, 1982, the material was priced at Rs. 100. This material has been gaining popularity among the students,
(h) The Board continued to make regular con- tribution to the Journal by giving a digest of In- come-tax and Company cases and other current readings.
7. EXAMINATIONS
7.1 Examinations
(a) The Entrance examination was held in June and December, 1982 at various centres in the country. The Chartered Accountant Intermedia- te and Final examinations under both the syllabi viz., (old & new) were held as usual in May rind November, 1982 at various centres all over India. The statistics related to the number of candidates who appeared and who were declared successful in the said examinations are given in Appendix jil.
58 THE GAZETTE OF INDIA : EXTRAORDINARY [PART III—SEC. 4]7.2 Extension of the Final examination under
Schedule 'B' i.e.. Old Syllabus.
On a consideration of the representations receiv- ed from candidates appearing for the Final exami- nation under the old syllabus, it was decided to continue the Final 'examination under the old syllabus till May, 1985 (inclusive) instead of being discontinued from May, 1984 as decided earlier.
7.3 Prizes & Certificates of Merit
The names^ of candidates who were awarded prizes and Certificates of Merit in the examinations held in Mav and November, 1982 are given in the Appendix XII.
7.4 Action against examinees
The Council debarred 7 candidates who were found to have resorted to or attempted to resort to unfair means from appearing in the examina- tions for varying periods.
7.5 Centres for examinations
A new centre for the professional examinations was opened at Jullundhsr for May 1983 only. An old centre at Rajkot was discontinued from the May, 1983 examinations.
8. REGIONAL COUNCILS & THEIR BRAN-
CHES
8.1 Branches
9. FINANCE
The Balance Sheet as at 31st March, 1983 and the Income and Expenditure Account for the year ended on that date were approved by the Council at its meeting held in September, 1983. The In- come & Expenditure account shows a surplus for the'year of Rs. 14,31,226 as against a deficit of Rs. 9,01,813 in the preceding year.
As per past practice the second instalment of coaching fee receivable from the students was not collected in accordance with the interpretations placed on the relevant rules. The exact amount receivable from such students has not been as- certained.
10. APPRECIATION
(a) The Council is grateful to all members of the Institute who functioned as co-opted members on the Institutes committees and all members and non-members who have assisted the Council during the year in the conduct of its educational and tech- nical activities and in ils examinations.
(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 appreciation of the sincere and devoted efforts put in throughout the year, by all the officers and staff of the Institute.
P.S. Gopalakrishnan P. N. Shah Ashok Kumbhat Secretary Vice-President President
New Delhi,
Dated : 15th September, 1983
Appendices to the Annual Report
APPENDIX 1
Subsequent to the last report, branch ot the Central India Regional Council at Patna was set up. The Cuttack Branch was shifted to Bhubanes- war and was re-named the Bhubaneswar Branch of the Eastern India Regional Coflncil. The total number of branches at present is 47. The total number of branches and regional centres visited by the President is 11 and by the Vice-President is 15 during the year. The addresses of the Region- al Councils and their branches and Chapters of the Institute outside India are given in Appendix
xm.
(Rcf. Para 1.1 of the Report)
A. MEMBERS OF THE COUNCIL
(1^-1982 to 16-9-1982)
MEHTA BANS! S.
President
8.2 Professional Development Activities ASHOK KUMBHAT
Vice-President
Regular study circle meetings were held during the year by most of Regional Councils and their branches. In addition, as many as 45 seminars| workshops and 181 Study Circle Meetings and 30 other meetings were organised by the Regional Councils and their branches during the year.
8.3 Chapters of the Institute outside India
A Chapter of the Institute was established at Dubai, during the year. It was visited by the President and the Secretary of the Institute in May, 1983,
Pune Chakrabortti, A.C. Calcutta Chdkraborty, A. K. Calcutta Dadhe, V.G. Das Gupta, S.K. Calcutta
•Dugar, S.M. New Delhi •Gangadharan, P.P. (up to 24-7-1982) New Delhi
Jagadisan, V. Madras Jain, I.C. Bombay Jain, N.K. Delhi Khanna, P.R. New Delhi
•Lodha, Rajcndra S. Calcutta Malegam, Y.H. Bombay
59
Nair, P.A. Bombay Examination Committee
Narayanas wamy, G. Madras Shri Bansi S. Mehta, President (Bombay)
Patel, Manubhai G. Ahmedabad Shri Ashok Kumbhat, Vice-Presidcnt (Madras)
Prabhakaran, S. Cochin Shri N.P. Sarda (Bomb i y)
Rajaram-Lin V. New Delhi Shri Jaisingh Singhi (Calcutta)
*Ramanujam G. Madras Dr. R.C. Vaish (Kanpur)
Sampath Kumaran, P.T, Madras
Disciplinary Committee
Sarda, N.P. Bombay
Seetharatnaiah, D. Hyderabad Shri Bansi S. Mehta, President (Bombay)
Kanpur Shri Ashok Kumbhal, Vice-President (Madras)
Scth, R.K.
Bombay Shri A.K.Chakraborty (Calcutta)
Shah, P.N.
Calcutta Shri S.M, Dugar (New Delhi)
Singlii, Jaisingh
Shri P.K. Khanna (New Delhi)
"Sinha, I.B. (Dr.) Lucknow
Somani, K.G. New Delhi NON-STANDING COMMITTEES
*Subramaniam, N. Nov Delhi
Research Committee
*Suri R.C. (from 25-7-1982) New Delhi
Shri A.C. Chakrabortti, Chairman (Calcutta)
Vaish, R,C. (Dr.i Kanpur
Shri S. Prabhakaran, Vice-Chairman (Cochin)
B. MEMBERS OF THE COUNCIL Shri Bansi S. Mehta, President Ex-officio (Bombay)
(17-9-1982 to 31-3-J 983) Shri Y.H. Malegam (Bombay)
ASMOK KUMBHAT Shri P.N. Shah (Bombay)
Shri K.O. Somani (New Delhi)
PRESIDENT
ShriB.M. Mirza 1 (Bombay)
P.N. SHAH Shri R. Scshasayee )• Co-opted (Madras)
Shri K.P. Sengupta I (NcwD'lhi)
Vice-President
Balakrishnan, R. Madras Post Graduate Course Committee
Banerjee, Bhaskar Calcutta
Bansal, S.K. New Delhi Shri R.K. Seth, Chairman (Kanpur)
Shri D. Seetharamaiah, Vice-Chairman (Hyderabad)
ChakraboiUi, A.C. Calcutta
Shri Ashok Kumbhat, Vice-President, Ex-officio (Madras)
Chawla, Brij Lai New Delhi
Dr. R.C. Vaish (Kanpur)
Chhajcd, S.P. Bombay
Shri A.C. Chakrabortti (Calcutta)
Darak, V.C. Bombay
Shri S. Prabhakaran (Cochin)
•Dugar, S.M. New Delhi
Shri H.M. Damania ~) Co-opted (Bombay)
Ghiya, R.C. Jaipur Dr. R. Rajagopalan J
(New Delhi)
*Hoshlng,V,a. Bombay
Jain, I.C. Bombay Professional Development Committee
Kale,Y.M. Bombay Shri V. Rajaraman, Chairman (Now Delhi)
Khanna, M.M. New Delhi Shri V.G. Dadhe, Vice-Chairman (Punc)
Nair, P.A. Bombay Shri Bansi S. Mehta, President, Ex-olticio (Bombay)
Nandagopal, S. Madras Shri A.K. Chakraborty (CJt-utia)
Narayanaswamy, G. Madras Shri P.P. Gangadharan (New Delhi)
Patel, Manubhai G. Ahmedabad Shri G. Narayanaswamy (Madras)
Poddar, N.K. Calcutta Shri V.B. Haribhakti ~) Co-opted (Bombay)
*Puri, MohlndcrPal New Delhi Shri K. Gancsan J (Calcutta)
Roy Chowdhury, A. Calcutta
Taxation Committee
Sampath Kumaran, P.T. Madras
Sarda, N.P. Bombay Shri V, Jagadisau, Chairman (Madras)
*Sinha,I.B.(Dr.) Lucknow Shri I.C. Jain, Vice-Chairman (Bombay)
Somani, K.G. New Delhi Shri Bansi S. Mehta, President, Ex-offlcio (Bombay)
SureshBabu, D.L. Bangalore Shri P.A. Nair (Bombay)
Shri K.G. Somani (New Delhi)
•Suri, R.C. New Delhi
Shri N. Subramaniam (New Delhi)
•Unninayar, M.S. New Delhi
Shri G. Satyanarayana ") Co-opted (Hyderabad)
Vaish, R.C. (Dr.) Kanpur
Shri N.K. Poddar j (Calcutta)
•Nominated by the Central Government
Board of Studies
APPENDIX II
(Ref. Para 1.1 of the Report)
A. MEMBERS OF THE VARIOUS COMMITTEES
(1-4-1982 to 16-9-1982)
STANDING COMMITTEES
Executive Committee
Shri T.A. Nttir, Chairman Shri D. Seithararruiah, Vice-Chairman Shri Ashok Kumbhat, Vice-President, Ex-officio Shri G. Narayanaswamy Shri N.P. Sarda Dr. I.B. Sinha Shri V.C. Darak "| Co-opted Shri A. Roy Choudhury J
(Bombay) (Hyderabad) (Madras) (Madras) (Bombay) (Lucknow) (Bombay) (Calcutta)
Employment Committee
Shri Bansi S. Mehta, President Shri Ashok Kumbliat, Vice President Shri S.K. Das Gupta Shri Y.H. Malogam Shri K.G. Somani
Shri I.C- Jain Chairman Shri P.T, Sampath Kumaran, Vice-Chairman
(Bombay) (Madras)
(Bombay)
(Madras)
(Calcutta)
(Bombay)
(New Delhi)
60 THE GAZETTE OF INDIA : EXTRAORDINARY [PART I I I - S E C. 4]
Shri Ashok Kumbhat, Vice-Presldent Ex-officio (Madras) Shri Y.H, Malegam (Bombay)
ShriN.K. Jain (Delhi) Shri P.A. Nair (Bombay)
Shri R.K. Scth (Kanpur) Sliri S. Prabhakaran (Cochin)
Shri Rajendra S. Lodha (Calcutta) Shri N. Subramaniam (New Delhi)
Shri S.K. Jain 1 „ . , (Bombay) Shri Rajendra S. Lodha (Calcutta;
Shri J.S. Vora J Co-opt^ (Bombay) Shri P.M. Narielvala ") (Calcutta)
Shri Arun Gandhi I (Bombay)
Expert Advisory Committee Shri M.P. Wadhawan y Co-opted (New Delhi)
Shri G. Narayanaswamy, Chairman (Madras) Shri N.S. Phabhar | (Bombay)
Shri P.T. Sampath Kumaran, Vico-Chair/nan (Madras) Shri P.B. Vjjayaraghavan j (Madras)
Shri Aahok Kumbhat, Vice-President Ex-offlclo (Madras)
ICA1-ICWA1 Co-ordination Conunlltw
Shri S.K. Das Gupta (Calcutta)
Shri V. Jagadisan (Madras) Shri Bansi S. Mohta, Leader (Bombay)
Shri I.C. Jain (Bombay) Shri Ashok Kumbhat. Dy. Leader (Madras)
Shri T.R. Subramanian "1 - . , (Madras) Shri A.K. Chakraborty (Calcutta)
Shri V. Suresh Rao j Co-oP4^ (Madras) Shri Y.H. Malegam (Bombay)
Shri P.N. Shah (Bombay)
Company Law Committee
Shri P.K. Mallik (Co-opted) (Calcutta)
Shri S. Prabhakaran, Chairman (Cochin)
Shri M,G. Patel, Vice-Chairman (Ahmedabad) ICAI-ICSI Co-ordination Committee
Shri Bansi S. Mehta, President Ex-offlcio (Bombay)
Shri Bansi S. Mchta, Leader (Bombay)
Shri S.M. Dugar (New Delhi) Shri Ashok Kumbhat, Dy. Leader
(Madras)
Shri P,R. Khanna (New Delhi) Shri S.K. Das Gupta
(Calcutta)
Shri V. Rajaraman (New Delhi) Shri N.P. Sarda (Bombay)
Shri P.K. Mukherjee 1 rn-nnted (Calcutta) Dr. R.O. Vaish
(Kanpur)
ShriN.Srinivasan J Co-opted (Madras)
Shri R. Rajagopalan (Co-opted) (Bangalore)
University Liaison Committee Conference Committee (JOth CAPA)
Shri N.K. Jain, Chairman (Delhi)
Shri V. R^jaraman, Co-Chairman (New Delhi)
Shri M.G. Patel, Vice-Chairman (Ahmedabad)
Shri A.K. Chakraborty (Calcutta)
Shri Ashok Kumbhat, Vico-Prosident Ex-oflfblo (Madras)
Shri Y.H. Malesam (Bombay)
Shri V.G. Dadhe (Pune)
Shri P.A. Nair (Bombay)
Shri Jaisingh Singhi (Calcutta)
Shri G. Narayanaswamy (Madras)
Dr. I.B. Sinha (Lucknow)
Shri P.K. Mallik (Co-opted) (Calcutta)
Shri A.D. Shinde"! (Kolhapur)
Sliri I.J. Desai J Co-opted (Surat) Committee on Public Relations
General Purposes Committee Shri Bansi S. Mehta, Chairman (Bombay)
Shri Ashok Kumbhat, Vice-Chairman (Madras)
Shri Bansi S. Mohta, Chairman (Bombay)
Shri A.K. Chakraborty (Calcutta)
Shri Ashok Kurnbhat, Vice-Chairman (Madras)
Sliri P.R. Kh-inna (Now Delhi)
Shri S.K. Das Gupta (Calcutta)
Dr. R.C. Vaish (Kanpur)
Shri Y.H. Malegam (Bombay)
Shri K.G. Somani (New Delhi) Committee for Unjustified Removal of Auditors
Editorial Board Shri Bansi S. Mchta, Chairman (Bombay)
Shri Ashok Kumbhat, Vice-Chairman (Madras)
Shri Bansi S. Mchta, Editor-in-Chiof (Bombay)
Shri Ashok Kumbhat (Madras) Shri S.M. Dugar (New Delhi)
Shri V.G. Dadho (Pune) Review Committee (New Committee)
Shri I.C. Jain (Bombay)
Shri Y.H. Malegam Sliri Bansi S. Mehta, Chairman (Bombay)
(Bombay)
Shri Ashok Kumbhat, Vice-Chairman (Madras)
Shri P.A. Nair (Bombay)
Shri A.C. Chakrabortti (Calcutta)
Shri M.G. Patel (Ahmedabad;
Shri Y.H. Malegam (Bombay)
Sliri N.P. Sarda (Bombay)
Sliri V. Rajaraman (New Delhi)
Shri P.N. Shah (Bombay)
ShriB.L. Kabra -) ,_ (Bombay)
Ethical Standards Committee Shri P.M. Narielvala J (C°-°Pted) (Calcutta)
Shri Bansi S. Mchta, Chairman (Bombay)
Shri Ashok Kumbhat, Vice-Chairman (Madras)
B. MKMBERS OF THE VARIOUS COMMITTEES
Shri A.K. Chakraborty (Calcutta)
Shri S.M, Dugar (New Delhi) (17-9-1982 to 31-3-1983)
Shri P.R. Khanna (New Delhi)
STANDING COMMITTEES
Accounting Standards Board
Shri P.N. Shah, Chairman (Bombay) Executive Committee
Shri A.C. Chakrabortti, Vice-Chairman (Calcutta) Shri Ashok Kumbhat, President (Madras)
Shri Bansi S. Mehta, President Ex-officio (Bombay) Shri P.N. Shah, Vice-President (Bombay)
Shri S.M. Dugar (New Delhi) Shri B.L. Chawla (New Delhi)
Shri P.P. Gangadharan (New Delhi) Shri I.C. Jain (Bombay)
ghri P.R. Khanna (New Delhi) Shri S. Nandagopal (Madras)
61
Examination Committee Shri H.I.., Kabra
(Bombay)
Shri Ashok Kumbhat, President (Madras) Shri Bansi S. Mehta J-Co-optjd (Bombay)
Shri P.N. Shah, Vice-President (Bombay) Shri" Y.H. Mat-gaol (Bombay)
Shri V.C. Darak (Bombay) Tu^atioii f omc*lt!ee
Shri R.C. Ghiya (Jaipur) Shri Manuhhai G. Patel, Chairman (Ahmedabao)
Shri A, Roy Chowdhury (Calcutta) Shri N.K. Po.Mur, Vice-Chairman (Calcutta)
Disciplinary Committee Shri Ashok Kumbha!, President, Lx-officio (Madras)
Shri S.K. Plansal (New Delhi)
Shri Ashok Kumbhiit, President (Madras)
Shri P.T. Si'.mpalh Kumaran (Madras)
Shri P.N. Shall, Vice-President (Bombay)
Shri M.S. IJnninayor (New Delhi)
ShriS.M.Dugar (New Delhi)
Shri A.H. £)alu! 1 f, , , (Bombay)
Shri P.T. Sampath Kumaran (Madras) Shri V.Jagailisan j ^o-optcd
(Madras)
Dr. R.C. Vaish (Knnpur)
Board of Sludius
NON-STANDING COMMITTEES Shri G. Narayan;-\swajny, Clwirmon (Madras)
Shri A. Roy Chowdhury, Viue-Chaiiman (Cdlcutt^)
Research Committee
Shri P.N. Shah, Vice-President, Ex-olTicio (Bombay^
Shri P.A. Nair, Chairman ("Bombay) Shri P.A. N.tir (Bombay)
Shri M.M. Khanna, Vice-Chairman (New Delhi) Ur. I.B. Sinhn
(Lucknow')
Shri Ashok Kumbhat, President, Ex-officio (Madras) Shri H. Uulakri\hnan
( Ma Ins)
Shri P.N. Shah, Vice-President, Ex-ofllcio (Bombay) Shri N.K. Jain ") _ , ,
(Delhi)
Shri Bhaskar Banerjcc (Calcutta) Shri G. Subrumivniun Co-opted ( P.-Itir! njt 1
Shri A.C. Chakrabortti (Calcutta)
ftxpert Adviiory Committee
Shri Y.M. Kale (Bombay)
Shri Y.H. Malegam ") (Bombay) Shri Y.M. Kale, Chairman (Bombay)
Shri Uday Khanna y Co-opted (Bombav) Shri l.C. Jain, Vice-Cliairman (Bombay)
Shri K. Swaminathan J (Madras') Miri P.IN. Siiah, Vice-PresiJent, Ex-olTicio (Bombay)
Shri S.P. Chhujeii (Bombay)
Auditing Practices Committee Khri G. Narayunaswamy (Madras)
Shri A.C. Chakrabortti, Convener/Chairman (Calcutta) Shii N.I1. Sanlu (Bombay)
Shri Bhaskar Banerjee (Calcutta) Shri IJ.J,lJaili^ar ~] „ t , (Bombay)
Shri P.A. Nair ShriM.B.Kanadia K"-opted i Rnrnhyvl
(Bombay)
Shri P.N. Shah (Bombay)
Accounting Standards Board
Shri R.C. Suri (New Delhi)
Shri K. Ganesan (Cali-iHta) Shn A.C. Chakrabortti, Chairman (Calcutta)
Shri N.P. Sarua, Vice-Chairman tBombay)
Shri P.R. Khanna ") (New Delhi)
Shri Y.H. Malegam Y Co-opted (Bombay) Shri Ashok Kumhhat, President, Ex-officio (Madras)
Shri N. Srinivasan J (Madras) Shri P.N. Shah, Vice-President, Kx-officio (Bombay)
Sliri Bhaskar Banerjee (Calcutta)
Post Graduate Course Committee
Shri B.L. Chawla (New Delhi)
Shri N.P. Sariia, Chairman (Bombay) Shri S.M. Uugar
(New Delhi)
Shri S.K. Bansai, Vice-Chairman (New Delhi)
Shri J'.A. Nair (Bombay)
Shri P.N. Shah, Vice-Presidcnt, Ex-officio (Bombay)
Shri M.P. Puri (New Delhi)
Shri N.K. Poddar (.Calcutta)
Shri R.C. Suri (New Delhi)
Shri D.L. Suresh Babu (Bangalore)
Shri M.S. Unninayar (Now Delhi;
Dr. R.C. Vaish 1 (Kanpur)
Shri P.M. NTarielvald "1 (Calcutta)
Dr. R. Rajagopalan y Co-opted (New Delhi)
Shri H.M. Damania J (Bombay; Shri R. Seshasayce i (Madras)
Shn K.P. Sengupta {- Co-opted (New Delhi)
Shri S. P. Dalai (Bombay)
Professional development Committee Shri R.S. Lodha J
(Calcutta)
Shri K.G. Somani, Chairman (Nevv Delhi)
Shri V.C. Darak, Vice-Chairman (Bombay.) Company Jt.uw Committee
Shri Ashok Kumbhat, President, Ex-officio (Madras) Shri Bhaskar B.incrjee, Chairman (Calcutta)
Shri P.N. Shah, Vice-President, Ex-officio (Bombay) Shri M.G. Patel, Vice-Chairman (Mimedabd)
Shri l.C. Jain (Bombay) Shri Ashok Kumbhal, President, Fx-ofBcio (Madras)
Shri M.P. Puri (New Delhi) Sliri S.M. Dugar (Mew Delhi)
Shri R.C. Suri (New Delhi) Shri M.M. Khanna (Now Delhi;
Shri V.R. Hoshing (Bombay) Shri S. Nandagopal (Madras)
Shri A.K. Chakraborty "1 n .„, (Calcutta) Shri N.H. Kishuadwala 1 ,, „ .„ , (Bombay)
Shri S.T. Venchinathan I Co-opted (Madras,)
Shn P.K. Mukherjee J <-°-°Pt ea (Calcutta)
International Affairs Committee University l.ltiisun Committee
Shri Ashok Kumbhat, Chairman (Madras) Dr. I.B. Sinha, Chairman (LucknowJ
Shri P.N. Shah, Vice-Chairman (Bombay) Shri S.P. Chhrjiid, Vice-Chairman (Bombay)
Shri A.C. Chakrahorlti (Calcutta) Shri P.N. Shah, Vice-Pcesidour, Fx-officio (Bombay)
Shri P, A, Nair (Bombay) Shri R. Ualakrishnan (Madras)
Shri N.P. Sarda (Bombay) Shri R.C. Ghiya (Jaipur)
Shri K.G. Som.mi (Now D;lh)i Shri D.L. Surcsh Babu (Bangalore)
<>2 THE GAZETTE OF INDIA : EXTRAORDINARY [PART HI—SEC. 4]
Dadhe
Shn V.G. Shri C.L.
(Jaipur)
Jhanwar ] Co-opted (Pune)
General Purposes Committee
Shri R.C. Ghiya Shri M.M. Khanna Shri G. Narayanaswamy Shri N.K. Poddar
(Jaipur) (New Delhi) (Madras) (Calcutla)
APPENDIX II f
[Rcf, Para 2.8 (b) of the Report] Shri Ashok Kumbhat, Chairman Shri P.N. Shah, Vice-Chairman ShriB.L. Chawla Shri I.C. Jain Shri S. Nandagopal
(Madras) (Bombay) (New Delhi) (Bombay) (Madras)
COMPOSITION OF THE 10TH CAPA CONFERENCE COMMITTEE AND TTS COMMITTEES
Ethical Standards Committee
Representatives of fCAI Representatives ' of IC WAI
Shri Ashok Kumbhat, Chairman (Madras)
Shri P.N. Shah, Vice-chairman (Bombay) 1. Conference Committee
Shri S.M. Dugar (New Delhi) Shri Ashok Kumbhat Shri N.K. Bose, Chairman,
Shri G. Narayanaswamy (Madias) Madras (Co-Chairman) Calcutta
Shri Manubhai G. Patel (Ahmedabad) Shri A.C. Chakrabortti, Shri O.K. Abhayankur,
Calcutta Pune
Committee on Public Relations Shri P.M. Nariclvala, Calcutta
Shri A.V. Ramana Rao,
Shri Ashok Kumbhat, Chairman (Madras) Shri P.A. Nair, Bombay
Shri P.N. Shah, Vice-Chairman (Bombay) Bombay Shri V. Kalayanaramun,
Shri A.C. Chakraborlti (Calcutta) Shri G. Narayanaswamy, Madras
Shri M.M. Khanna (Now Delhi) Madras Shri N.K. Roy,
Shri P.T. Sampath Kumaran (Madras) Shri K.G. Somani. Calcutta
Shri V.R. Hoshing (Bombay) New Delhi Shri M.P. Pandit,
Shri P.N. Shah, Pune
Committee for Unjustified Removal of Auditors Bombay Shri Amitava Bhattacharya,
Dr. R.C. Vaish, Calcutta
Sh ri Ashok Kumbhat, Chairman (Madras)
(Bombay) Kanpur Shri S. Chakravarthy,
Shri P.N. Shah, Vice-Chairman
Shri S.M. Dugar (New Delhi) Shri S.M. Dugar, New Delhi New Delhi.
Editorial Board 2. Budget & Finance Committee
Shri Ashok Kumbhat, Editor-in-Chief (Madras) Shri I.C. Jain, Bombay Shri A.V. Ramana Rao,
Shri P.N. Shah (Bombay) Shri P.N. Shah, Bombay Chairman , Bombay
Shri R. Balakrishnan (Madras) Shri P.T. Sampath Kumaran, Shri G.K, Abhayankur,
Shri S. Nandagopal (Madras) Madras Pune
Shri G. Narayanaswamy (Madras) Shri Ashok Kumbhat (Ex- Shri N.K. Bose (Bx-oificio),
Shri P.T. Sampath Kumaran (Bombay) officio) Calcutta
(Bangalore) Madras
Shri D.L. Suresh Babu
LC.A.L—I.C.W.A.I. Co-ordination Committee 3. Technical Committee
Shri P.M. Nariclvala (Chairman) Shri N.K. Roy,
Shri Ashok Kumbhat, Leader (Madras)
Shri P.N. Shah, Deputy Leader (Bombay) Calcutta Calcutta
Shri Bansi i S. Mehta, Bombay Shri Shyamal Baneijcc,
ShriB.L. Chawla (New Delhi)
(Bombay) Shri Y.H. Malegam, Bombay Calcutta
Shri I.C. Jain
Shri Ashok Kumbhat (Ex- Shri N.K. Bose (Ex-officio),
Shri A. Roy Chowdhury (Calcutta)
oflkio) Calcutta.
I.C.A.I. l.C.S.I. Co-ordination Committee Madras
Shri Ashok Kumbhat, Leader (Madras) 4. Delegates Committee
Shri P.N. Shah, Deputy Leader (Bombay)
Shri S.P. Chhajed (Bombay) Shri A.C. Chaltrabortti Shri Amitava Bhattacharyya,
Shri K.G. Somani (New Delhi) (Chairman;, Calcutta Calcutta
Dr. R.C. Vaish (Kanpur) Shri P.N. Shah, Bombay Shri P.S. Nadkarni,
Shri B.L. Chawla, Bombay
Conference Committee (10th CAPA) New Delhi
Shri N.K. Bose (Ex-olticio),
Shri Ashok Kumbhat, Co-Chairman (Madras) Shri N.P. Sarda, Bombay Calcutta
Shri A.C. Chakrabortti (Calcutta) Shri Ashok Kumbhat (Ex- ShriD.K. Jain,
Shri P.A. Nair (.Bombay) officio) New Delhi.
Shri G. Narayanaswamy (Madras) Madras
Shri K.G. Somani (New Delhi) 5. Publicity & Publications Committee
Shri P.N. Sbali (Bombay)
Dr. R.C. Vaish (Kanpur)
Shn S.K. Bansal, New Delhi Shri V. Kalayanaraman,
Shri P.M. Narielvala (Calcutta) Shri P.A. Nair, Bombay
Chairman, Madras
Shri S.M. Dugar (New Delhi) Shri A. Roy Chowdliury, Shri Sankar Datta,
Calcutta Calcutta
Hindi Committee Shri G. Narayanaswamy, Madras Shri N.K. Bose (Ex-ofrkio)
Shri Ashok Kumbhat, Chairman (Madras) Shri Ashok Kumbhat (Ex- Shri S. Raruanathan,
Shri P.N. Shah (Bombay) officio), Madras Madras
63
3. Committee on Corporate Reporting
Representatives oflCAI Representatives of ICWAl
6. Entertainment & Social Committee
Shri K.G. Somani (Chairman), New Delhi Shri M.M. Khanna, New Delhi Shri Ashok Kumbhat (Ex-
officio), Madras ShriN.K. Jain, Delhi
Shri M.P. Pandit, Pune Shri R.L. Bhatia, New Delhi Shri A.V. Satyanarayana Rao. Bangalore Shri N.K. Bose (Ex-ofllcio), Calcutta
Shri P. N. Shah, Bombay
with A^socham
Shri V. Rajaraman Shri Bansi S. Mchta Shri Y.H. Malcgam Shri P.M. Narielvala Shri P.N. Shah Shri K.P. BharJiva Shri P.N. Sh'h 4. National Productivity Council
Shri M.M. Khanna 5, Farm Accounts Sectional Committee
A FIX? 49 of the Indian Standards Institution.
6, Business Advisory Committee — Shri Ashok
Kumbhat Controller of Capital Issues
7. Central Advisory Committee on
APPENDIX IV
[Ref. Para 3.R(b) of the Report]
RESULTS OF MANAGEMENT ACCOUNTANCY COURSE
(PART I) EXAMINATION
1983
May
May 1982 Nov. 1982
22
14
20
5
.71
3 15.00
4 18.18 35
Shri Ashok Kumbhat Direct Taxes
8. AH India Board of Management Shri R.K. Scth
Studies.
Shri B.L. Kabra 9. Council of the International Federa-
tion of Accountants (IFAC)
10. International Auditing Practices Shri Y.H. Malegam
Committee of IFAC
Shri Bansi S. Mehla 11. Education and Training Sub-com-
mittee of CAPA
Shri Bansi S. Mehta 12. Education Committee of Interna-
tional Federation of Accountants
APPENDIX VII
61
21 13 .90
16 4 25.00%
21 7 33.33%
12 5 .67
41
10 3 30.00
6 4 63.67 Doth Groups Candidates appeared Candidates passed Percentage Group 1 Candidates appeared Candidates passed Percentage Group 11 Candidates appeared Candidates passed Percentage
[Ref. Para 5.1 of the Report]
NUMBER OF MEMBERS AS ON 1ST APRIL, 1982
AND 1ST APRIL, 1983
1982 1983
1st April
1983
1st April
1982
APPENDIX V
[Ref. Para 3,8(c) of the Report]
RESULTS OF CORPORATE MANAGEMENT COURSE
PART I/1I EXAMINATION
May 1982 Nov. 1982 May 1983
5
2 Nil. —
1 20
3 2 66.67
— —
2 1
1 Nil.
—
—
50 Parti Candidates appeared Candidates passed Percentage Part 11 Candidates appeared Candidates passed Percentage
9879
8582 839
8949 930 9421 Fellows i. Tn practice ii. Not in practice
18120 19626
10704 8922
9750 8370
Associates i. In practice ii. Not in practice
29505
27541 Grand total
APPENDIX VIII
[Ref. Para 5.2 of the Report]
DISCIPLINARY ACTION AGAINST
MEMBERS
APPENDIX VI
[Ref. Para 4.9 of the Report]
NOMINEES ON OUTSIDE BODIES
The following members represented the Institute on various
bodies :—
1. General Council of the Institute of Shri Ban si S. Mehta
Applied Manpower Research,
2. Informal Advisory Committee on Shri Ashok the Department of Company Affairs Kumbhat on matters relating to Cost Account- ing Record Rules
1. SOLICITING CLIENTS OR PROFESSION- AL WORK INDIRECTLY THROUGH THE MEDIUM OF ADVERTISEMENT INSER- TED IN NEWSPAPER
A member was found guilty of professional mis- conduct under Clause (6) of Part I of the First Schedule to the Chartered Accountants Act, 1949, for having solicited clients or professional work indirectly through the medium of advertisement inserted in a newspaper.
The member to whom an opportunity of being heard by the Council had been afforded, appeared
64 THE GAZETTE OF TNDIA : EXTRAORDINARY [PART III-SEC. 4] 1 3
before the Council and made his submissions. On
a consideration of the matter, the Council decided
3. 305
that the name of the member be removed from
the membership of the Institute for a period of 4. 314
5. 347
one month.
<\ 374
Against the above order of the Council the 7. 403
S. 464
member filed an Appeal before the High Court
9, 596
under section 22A of the Chartered Accountants
10. 610
Acts, 1949, but the High Court agreed with the 11. 703
findings of the Council and dismissed the appeal 12. 735
filed by the member. 13. 781
14. 807
(For full details, please see pages 231 & 232 15. 828
of September 1982 issue of "The Chartered Ac- 16. 848
countants") 17. 850
IN. 922
2. Failure to pay stipend to articled clerks in ac- 19. 946
cordance with regulation 32B 20. 972
21. 992
Two members were found guilty of professional 1116
misconduct under clause (i) of Part II of the 23. 1221
Second Schedule to the Chartered Accountants 24. 1379
Act, 1949 read with Regulation 32B of the Char- 25. 1469
tered Accountants Regulations, 1964, for having 26. 1534
failed to pay the stipend to their articled clerks 27. 1629
28. 1734
in accordance with the provisions of Regulation
29. 1830
32B. The Council had recommended to the High 30. 1866
Court that the members be reprimanded. The 31. 1890
High Court, accepting the findings of the Coun- 32. 2014
cil and the recommendations made by it, adminis- 33. 2493
tered a reprimand to the members. 34. 2563
35. 2673
(For full details please see pages 233 of Sep- 36. 2751
tember 1982 and 321 of October 1982 issues of 37. 2857
"The Chartered Accountants") 38. 2860
39. 3053
3. Soliciting professional work by publishing an 40. 3121
advertisement under "Business Officers" column 41. 3306
in a newspaper, giving box number 42. 3446
43. 3618
4874
4019
A member was found guilty of professional misconduct under clause (6) of Part I of the First Schedule to the Chartered Accountants Act, 1949 for having solicited professional work by publish- ing an advertisement under 'Business Offers' colu- mn in a newspaper giving box number.
The member to whom an opportunity of being heard by the Council had been afforded, submit- ted his written submissions. On consideration of the matter, the Council decided that the Respon- dent be reprimanded.
APPENDfX IX
[Ref. Para 5.3 of the Report]
NAMES OF THE MEMBERS WHO EXPIRED DURING
THE YEAR 1982-83
44. 45. 46. 47. 48. 49. 50. 51. 52. 53. 54. 55. 56. 57. 58. 59. 60. 61. 62.
Membership
S.No.
Nome
No.
2
3
1
63. 64. 65. 66.
4033 4433 4458 4484 473 5030 5045 6212 6586 6592 7125 7239 7982 8183 8644 9764 11177 11279 11521 12828 12945 13220
Shri G. Sankaran Shri K.K. Shah Shri Santosh Kumar Das Shri Sailendra Nath Mitra Shri S.K. Basu Shri Nirendralal Chaudhuri Shri Bhupendra Mohan Roy Shri K.R. Subramanian Shri Sisir Kumar Gupta Shri B.M. Mehta Shri Ashok Kumar Sarkar Shri A.N. Lilani ShriP.S. DuttaRao ShriU.N.Sharma Shri K.F. Birdy Shri Parmcshwar Dayal Mathur Shri K. Narasimhan Shri B.B. Rakshit Shri J.V. Agashivala Shri G.J.V. Gonsalves Shri Jitendra Kumar Jain Shri Krishan Kapoor Shri Arjan Datta M. Diwan Shri C.E. Kamath Shii S.N. Sharma Shri R. Rajagopala Ayyangar Shri P.K. Shroff Shri J.S. Parakh Shri K.L. Chattcriee Shri S.Nagaratnam Shri Gokaran Prasad Shri Yash Pal Puri Shri S. Santhappa Shri N. Sen Shri K.M. Marolia Shri J.B. Todlwalla Shri Shanti Priya Mukherjee Shri K.M. Trivedi Shri H.C. Dey Shri Brahma Swarup Mathur Shri Kaslnath Bose Shri P.M. Mammon Shri V. Ramarathinam Shri Bimal Sinha Roy Shri V.R. Inamdar Shri A.A. Maru Shri Batakrishna Panja Shri N.V. Shah Shri D.N. Pukalo Shri I.C. Dharia Shxi Swades Kumar Gupta Shri Ashok Vadilal Vasa Shri Hans Raj Baid Shri U. Parasurame Iyer Shri K.S. Vidyathi Shri Blswa Nath Bhattacharyya Shri S.P. Tripathi Shri M.S. Venkataramanan Shri P.D. Gupta Shri K.J. Mehta Shri D. Balasubramanian Shri Nadkishore R. Mantri Shri Satish Kumar Kapur Shri C. Govinda Rao Shri N. Venkatanarasimhan
66.
1 261
Shri O.P. Kapadia Shri R. Seshan
1. 2.
65 1 2 3 Oil) FINAL (OLD SYLLLBUS)EXAMINATION—MAY 1982
68. 13946 Shri M. Palanisamy Total No. of candidates appeared in Group I 2107
69. 15673 Shri M. Arumugam No. of candidates declared successful in Group I 317
70. 16288 Shri Raghuraj Chatterjee Percentage 15.05
71. I74OK Shri P C. Desai Total No. of candidates appeared in Group IF 1625
72. 17358 Shri Triptimoy Banorjcc No. of candidates declared successful in Group IT 79
73. 1768! Shri D.B. Sabne Percentage 4.86
74. 32703 Shri D.C. Mehta Total No. of candidates appeared in Both Groups 550
75. 70887 Shri Rabatiranjan Sarkar No. of candidates declared successful in Both Groups 7
76. 80890 Shri Ashwani Kumar Sethi Percentage 1.27
77. 81233 Shri M.K. Sreenivasa (ycngar
(iv) FINAL (NEW SYLLABUS) EXAMINATION—MAY,
78. 81234 Shri C. Narahari Sastry
1982
APPENDIX X
[Rcf. Para 6.3 of the Report]
NUMBER OF STUDENTS ENROLLED DURING 1982-83
No. of candidates who were on roll on 1st April 1982 : Enrolled during the year 1982-83
No. of students who completed tuition in the year 1982-83 ( May & November 1982 Examinations)
Total No. of candidates appeared In Group I 3532 No. of candidates declared successful in Group I 1278 Percentage 36.18 Total No. of candidates appeared in Group If 4455 No. of candidates declared successful in Group IT 754 Percentage 16.92 Total No. of candidates appeared in Group Til 3988 No. of candidates declared successfu Hn Group III 1438 36.06 Percentage Total No. of candidates appeared in All Groups 1023 No. of candidates declared successful in All Groups 57 Percentage 5.57 Examinations held In November/December, 1982
APPENDIX XI
[Ref. Para 7,1 of the Report]
SUMMARY OF RESULTS
A. Examinations held In May/Juno, 1982
(1) ENTRANCE EXAMINATION—JUNE 1982
Total Number of candidates 6962
Number of candidates absent In one or more 1961 papers
Out of the above No. of candidate exempted in one or more papers.
749
Effective number of candidates 5001 (1) ENTRANCE EXAMINATION—DECEMBER, 1982 Total No. of candidates 9509 No. of candidates absen tin one or more papers 2187 Out of the above No. of candidates exempted in one or more papers 1036 Effective No. of candidates 7322 Total No. of candidates declared successful 1563 Percentage
21.41
(2) INTERMEDIATE (NEW SYLLABUS) EXAMINA-
TION-NOVEMBER, 1982
*Total No. of candidates appeared in Group f 12934
Intermediate Final
I If III
16032 9415
13749 3781
13852 3781
11342 3781
Total
25447 7548
17530 3528
17633 3647
15123 3686
Balance
17899 14002 13986 11437
Total number of candidates declared successful 751 Percentage
15.02
(ii) INTERMEDIATE (NEW SYLLABUS) EXAMfNATTON
MAY, 1982
Total No. of Candidates appeared in Group I 12344 No. of candidates declared successful in Group T 3177 Percentage 25.74 Total No. of candidates appeared in Group IT 13001 No. of candidates declared successful in Group II 2188 16.83 Percentage
Total No. of candidates appeared in Both Groups 6498 No. of candidates declared successful in Both Groups 658
Percentage
10,13
847 QI/S3—9.
No. of candidates declared successful in Group 11 2284 Percentage 17.66 Total No. of candidates appeared in Group II 13725 No. of candidates declared successful in Group I 1684 Percentage 12.27 Total No. of candidates appeared in Both Groups 6510 No. of candidates declared successful in Both Groups 555 8.53 Percentage
(3) FINAL (OLD SYLLABUS) EXAMINATION-
NOVEMBER 1982
Total No. of candidates appeared in Group I 1936 No. of candidates declared successful in Group 1 104 5.37 Percentage Total No. of candidates appeared in Group II 1602 No. of candidates declared successful in Group IT 54 Percentage 3.37 Total No. of candidates appeared in Both Groups 555 No. of candidates declared successful in Both Groups 1 0.18 Percentage
(4) FTNAL (NEW SYLLABUS) EXAMINATION-
NOVEMBER, 1982
Total No. of candidates appeared in Group I 4059 No. of candidates declared successful in Group I 1615 Percentage 39.79 Total No. of candidates appeared in Group TI 5166 No. of candidates declared successful in Group H 1162 22,49 Percentage
66 THE GAZETTE OF INDIA : EXTRAORDINARY [PART III—SEC. 4]Total No. of candidates appeared in Group Id 4347
May, 1982 November, 1982
No. of candidates declared successful in Group III 1427
6,
Jyotin Kanti Lai Mchta
32.83 Percentage Total No. of candidates appeared in All Group1! 1325
Vasudev Ghanashyam Ginde
No. of candidates declared successful in All Groups 131
N.M. Shah Prize and Suri Memorial Prize for the best paper on Direct Tax Laws.
Percentage
9.89
7.
Anil Miihra Lalit Kumar Dangi
Kerala Verma Prize for the best candidate in Group 1
APPENDUX XII
8.
Mani Raman
(Ref, Para 7.3 of the Report)
Vayati Shri Krishna Bapat
U.C. Majumdar Prize and the S.M. Shah Prize for the best paper on Company Law
PRIZES AND CERTIFICATES OF MERITS FINAL EXAMINATION
9.
Ravindran Sundar Lakshman Hari Gopal Best Student of the year 1982
Venkatachalam Mohan Prize for the best paper on Economics
Main Raman awarded the following prizes
10.
Mani Raman
(i) G.P. Kapadia (First President) Prizs
Jyotin Kantilfll Mehta
(ii> Ramacbandra Singhi Prizo for the best candidate
P.N. Ghosh Memorial Prize for the best candi- date in Group II
(iii) G. Basu Foundation Award for the best student of the
Vivek Juneja year, 1982
11.
(iv) Certificate of Merit—First Rank
Rajcsh Shantilal Kadakia and Anil Mehra
(v) U.C. Majumdar Prize
(vi) K M. Shah Prize
Jayantilal K. Thakkar Memorial Prize who secures the second highest marks in the Final Examination
(vii) P.N. Ghosh Memorial Prize
Urmila Narayan
12.
Pervin Bejon Chokscy
Rcge
INTERMEDIATE EXAMINATION
Sivabhogam Prize for the best lady candidate.
Best Student of the year 1982
13.
Mani Raman
Stinil Dhiraj Lai Shah awarded the following prizes :
(i) G.P. Kapadia (First President) Prize
G. Basu Foundation Award for the best stu- dent for the year, 1982
(ii) Suri Memorial Fund Award for the best student of the
14.
Asit P, Mchta
year, 1982i
Suresh Kumar Gupta
(iii) Certificate of merit—First Rank
J.K. Doshi Prize for the highest marks in the paper of Financial Management.
15.
Lalit Kumar Pangi
N.N. Das Prize for the best student of the year 1982 in the Accoun- tancy Group
16.
FINAL EXAMINATION
Mani Raman
Certificate of Merit (New Syllabus) : I Rank
May 1982 November 1982
Lalit Kumar Dangi
Vivek Juneja 1, , G.P. Kapadia (First) Mani Raman
TI Rank
President) Prize
Lalit Kumar Dangi
Anil Mohra and Rajcsh Shantilal Kadakia
2,
Man! Raman
Asit P. Mehta
Lalit Kumar Dangi
III Rank
. Ramachandra Singhi Prize for the best candidate.
Jyotin Kantilal Mehta and Sanjlv Chatterjee 3.
Pravln Chandra Shantilal Joshi
Lalit Kumar Dangi
Sir Shapoorji Billi- moria Prize for the best paper on Accountancy,
INTERMEDIATE EXAMINATION
4.
May, 1982
November, 1982 R.V.K. Umarjee Prize for the best paper on Cost Accounting :
Prakash Ghunaahyam Sam ant
K.V. Narayanan
1.
T. Govinda Rajulu
Sunil Dhirajlal Shah
G.P. Kapadia (First (President) Prize
5.
Prabha Shankar
Piyush Arun Vora
2.
Rajoev Gopal Wagla A.F. Ferguson Prize and the R. Vcnkatesan Memorial Prize for the best paper on Auditing.
Sanjay Parekh and Ravi Shankar K.
Dincsh Himatlal Shah Prize for the best paper on Auditing
9. Nasik Branch of the Western India Regional Council of
May, 1982 November, 1982
~~3. Suri Memorial""Fund Sunil Dhirajlal
Award to the best stu- dent of the year, 1982 Shah
4. Certificate of Merit : (New Syllabus) :
I Rank T. Govinda Sunil Dhirajlal
Rajulu Shah
JI Rank Sanjib Sengupta Nandita the Institute of Chartered Accountants of India, C/o Shri S.N. Kulkarni, 59, Main Road, Shendc Building (Back Side) Nasik City-422 001
II. SOUTHERN REGION
Southern India Regional Council (S.I.R.C.)
Southern India Regional Council of the Institute of Chartered AccountN of India. 122, Nungambakkam High Road, Post Box. No. 3314, Madras-600 034
Fradeep Shah
Shah
UI Rauk Nilesh Bansilal Raghuraraan Mehta Krishna Iyer
APPENDIX XIII
(Ref. Para 8.1 of the Report)
ADDRESSES OF THE REGIONAL COUNCILS AND THEIR BRANCHES
1. WESTERN REGION
w
Astern India Regional Council (WIRC) Western India Regional Council of the Institute of Chartered Accountants of India, "Anveshak", 27, Cuffe Parade, Post Box No. 6081, Colaba, Bombay-400 005
iches, of W.I.R.C.
Brai
1. Ahmedabad Branch of the Western India Regional Council of the Institute of Chartered Accountants of India. B-l, Capital Commercial Centre, Near Sanyas Ashram, Ashram Road, Ahmcdabad-380 004
2. Baroda Branch of the Western India Regional Council of Institute of Chartered Accountants of India, 10, Chaudan Building, 2nd floor, Near Sardar B'havan, Raopura, Baroda-390 001
Goa Branch of the Western India Regional Council of the 3.
Institute of Chartered Accountants of India, Datta Prasad, 3rd floor, A. Albuquerque Road, Panaji-Goa
, Nagpur Branch of the Western India Regional Council of 4,
the Institute of Chartered Accountants of India, Dr. Mangrulkar's Bungalow, Park Corner, Dhantolia, Nagpur-440 012
5. Poona Branch of the Western India Regional Council of the Institute of Chartered Accountants of India, Mill-owners Association Building-2, Blodk No. 9 S.P. College Compound, Poona-411 030
. Rajkot Branch of the Western India Regional Council of 6,
the Institute of Chartered Accountants of India, 2nd floor, Kamdhcnu, Near Moti Tanki, Rajkot-360 001
. Surat Branch of the Western India Regional Council of 7.
the Institute of Chartered Accountants of India, C/o M/s. Y.B. Desal & Co., Vasudhara, Pars! Sheri, Chamber 3, 3rd floor, Navapura Surat-395 003
. Kolhapur Branch of the Western India Regional Council 8.
of the Institute of Chartered Accountants of India, lfiO4, E Ward, Datta Prasad, Rajarampuri, 5th Lane, Kolhapur-416 002
Branches of the S.I.R.C.
1, Banglore Branch of the Southern India Regional Council of the Institute of Chartered Accountants of iDdia, No. 1/1-B. Cross Road, Behind Commission & General Agencies, J.C. Road, Banfialore-560002
2. Bclgaiun Branch of the Southern India Regional Council of the Institute of Chartered Accountants of India, 2nd floor, Hari Mandir, Saraswati Samaj Building, Belgaum-590 002
3, Coimbatore Branch of the Southern India Regional Coun- cil of the Institute of Chartered Accountants of India, M.M.S.—^Mernorial Building, No. 1, Diwan Bahadur Road, Coimbatore-641 002
4. Calicut Branch of the Southern India Regional Council of the Institute of Chartered Accountants of India, "B'alasudha"
Puthiyar, Calicut-673 004
5. Ernakulam Branch of the Southern India Regional Council of the Institute of Chartered Accountants of India, XXIII/204, Madapparambil Bidgs, Mahatma Gandhi Road, Ernakulam, Cochin-682 011
6. Guntur Branch of the Southern India Regional Council of the Institute of Chartered Accountants of India, Srinivasa Building, Main Road, Arundelpet, Guntur-522 002
7. Kumbakonam Branch of the Southern India Regional Council of the Institute of Chartered Accountants of India, "Homeo House", 30, Bakthapurl Street, Kumbakonam-612 001
8. Mangalore Branch of the Southern India Regional Council of the Institute of Chartered Accountants of India, Udaya Printary Buildings, Mangalore-375 003
9. Tirchirapali Branch of the Southern Tndia Regional Coun- cil of the Institute of Chartered Accountants of India, No. 35, Room No. 3, 3rd floor, Room No. 3, Tinichirapalli-2
10. Trivandrum Branch of the Southern Tndia Regional Coun- cil of the Institute of Chartered Accountants of India, Ulsava Madomi Building, North of Padmanabha Swamy Temple,
11.
run, Trivandrum-695 023 Hyderabad Branch of the Southern India Regional Coun- cil of the Institute of Chartered Accouutants of India, C/o FAPCCI, 11-6-841, Red Hills, Post Box No. 14, Hyderabad-500 004
12. Madurai Branch of the Southern India Regional Council of the Institute of Chartered Accountants of India, 50-B, Pechiamman Padithurai Street, Madurai-625 001
68 THE GAZETTE OP INDIA : EXTRAORDINARY [PART I I I - S E C. 4]
Salem Branch of the Southern India Regional Council oF 2.i Ghaziabad Branch of the Central India Regional Council
13.
the Institute of Chartered Accountants of India, of the Institute vi Chartered Accountants of India,
Town Railway Station Road, C/o M/s. Ravi Kumar & Co,,
58, G.T. Road,
Salem-636 001
Punjab & Sind Bank Building,
14. Tirunelveli Branch of the Southern India Regional Coun- Ghaziabad-201 001
cil of the Institute of Chartered Accountants of India,
C/o P.V. Ramachandran, FAC, 3. Jaipur Branch of the Central India Regional Council of the
12, Sripuram, Institute of Chartered Accountants of India,
27, Katewa Bhawan, M.I. Road,
Tirunelveli-627 001
Jaipur-302 001
15. Vijaywada Branch of the Southern India Regional Council
of the Institute of Chartered Accountants of India, 4. Bhopal Branch of the Central Regional Council of the
26-13-31, Sanyaslraju Road, Institute of Chartered Accountants of India,
Gandhi Nagar, ", New Market,
Vijayawada-520 003 T.T. Nagar,
Bhopal
16 . Visakhapatnam Branch of the Southern India Regional
Council of the Institute of Chartered Accountants of India, 5. Indorc Branch of the Central India Regional Council of
Siripuram, the Institute of Chartered Accountants of India,
Visakhapatnam-530 003 123, Jawahar Marg,
Tndorc-452 004
17 . Alleppcy Branch of the Southern India Regional
Council of the Institute of Chartered Accountants of 6. Jamshedpur Branch of the Central India Regional Council
Tndia "Seemati Hall Building", of the Institute of Chartered Accountants of India.
North of Iron Bridge, C/o R.K. Verma & Co.
AHeppey-688 001 Patel Niwas, 1st floor,
Diagonal Road, Bistupur,
18 . Trichur Branch of the Southern India Renional Council Jamshedpur-83l 001
of the Institute of Chartered Accountants of Tiidia,
Bhardwaja Asramam, 7, Jodhpur Branch of the Central Tndia Regional Council of
Patturaikkal the Institute of Chartered Accountants of India,
Trichur-1 Opposite Stadium Ground,
. Kottayam Branch of the Southern India Regional Council Jodhpur
19
of the Institute of Charftcrcd Accountants of India, 8. l.ucknow Branch of the Central India Regional Council
Union Buildings, of the Institute of Chartered Accountants of India,
Municipal Junction, Reid Hall,
Kottayam-686 001 Lucknow Christian College,
2C 1. Mysore Branch of the Southern Tndia Regional Council Opp. Balrampur Hospital Gate,
of the Institute of Chartered Accountants of India, Lucknow
4581, Narasimhnraia Mohalla,
9 . Patna Branch of the Central India Regional Council of
Mysore-570 007
the Institute of Chartered Accountants of Tndia,
"Satya Deep"
in . F ASTERN REGION
Kadam Kuan, New Area,
i Eastern India Regional Council (EIRC) Patna-800 001
Eastern India Regional Council of Ihe Institute of Char-
tered Accountants of India, in ', Raipur Branch of the Central India Regional Council of
7, Russell Street, the Institute of Chartered Accountants of India,
Calcutta-700 071 Sadani Building, Sadar Bazar,
Raipur (M.P.)
Br anches of E.l.R.C. V. NORTHERN REGION
I. Asansol Branch of the Eastern India Regional Council of i siorthern India Regional (NIRC)
the Institute of Chartered Accountants of India, Northern Tndia Regional Council of the Institute of
G.T. Road, (West End), Chartered Accountants of India,
Opp. L.I.C. Building, 5th floor, Annexe,
Asansol, The Institute of Chartered Accountants of India Buildings
Dist. Burdwan, West Bengal Indraprastha Marg,
New Delhi-110 002
2. Gauhati Brunch of the Eastern Tndia Regional Council
the Institute of Chartered Accountants of India, Bn anches of N.I.R.C.
Ambari,
Gauhati-781 001 1. Chandigarh Branch of Northern Tndia Regional Council
of the Institute of Chartered Accountants of India,
3. Bhubaneswar Branch of the Eastern India Regional C/o MB/s. S.K.M. Associates,
Council of the Institute of Chartered Accountants of S.C.O. 809-810, Sector 22-A,
India, Chandigarh-160 022
"Ipicol House",
Janapath, Bhubaneswar-751 007 2. Ludhiana Branch of the Northern India Regional Council
of the Institute of Chartered Accountants of India,
l\ '. CENTRAL REGION C/o Jain Subhash & Co,,
B-1-645/3, Kundanpuri,
Central India Regional Council (CIRC) Dr. Bindra Ban Road,
Central' India Regional Council of the Institute of Chartered Civil Lines,
Accountants of India, Ludhiana
16/77, Civil Lines,
Behind Reserve Bank of India, 3. Amritsar Branch of the Northern India Repionnl Council
The Mall, of the Institute of Chartered Accountants of India,
Kanpur-208 001 102. J & K Bank Building,
Shastri Market,
B ranches of C.I.R.C. Amritsar
1. Agra Branch of the Central Tndia Regional Council of the 4. Faridabad Branch of the Northern Tndio Recional Council
Institute of Chartered Accountants of India of the Institute of Chartered Accountants of India,
9/12, Suitar Gftli, C/o M/s. T..N. Choudhary & Co.,
Moti Katra, 7, Neelam Chowk, 1st floor,
Asra Faridabad-121 001
60
VI. CHAPTFRS OF THE INSTITUTE OUTSIDE INDIA 5.Jullundar Branch of the Northern India Regional Council
1. Doha Chapter of the Institute
of the Institute of Chartered Accountants of India,
C/o Shri D. D. Sharma,
Post Box No. 164, Doha, Qatar
E.R. 18, Ci\il 1 ines,
G.T. Road,
2. Dubai Chapter of the Institute Post Box No. 2044, Dubai, U.A.E.
Jullundur City
ANNUAL
ACCOUNTANTS
1982-83
AUDITOR'S REPORT
We have audited the Balance Sheet of the Institute of Chartered Accountants of India, as at 31 st March, 1983 and also the annexed Income & Expenditure Account for the year ended on that date incorporating the accounts of the Regional Councils and Branches and the Students' Associations and Branches and report that :—
1. We have obtained all the information and explanations which to the best of our knowledge and belief were necessary for the purpose of our audit;
2. the Balance Sheet and the Income & Expenditure Account dealt with by the report are in agreement with the books of accounts;
3. in our opinion, the accounts are maintained in conformity with the requirement of the Chartered Accountants Act, 1949; and
4. in our opinion and to the best of our information and according to the explanations given to us, the statements together with the schedules attached, give a tun; and fair view :
(i) in the case of the Balance Sheet, of the state of affairs as at 31st March, 1983, and
(ii) in the case of the Income & Expenditure Account,of the Surplus for the year ended on that date.
C.P. Mehra, M.R. Venkataraman New Delhi, Dated, the I)2tli September, 1983
Chartered Accountants
THE INSTITUTE OF CHARTERED ACCOUNTANT OF INDIA, NEW DELHI
ACCOUNTING POLICIES
1. Depreciation : Fixed assets are shown on historical cost basis and have been depreciated on the diminishing balance method. Library books at the Head Office have been depreciated on the straight line method.
2. The admission fee from fellow members and a major portion of the entrance fee received from associate mem- bers arc capitalised. 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 to staff is made on accrual basis. A gratuity-cum-group insurance policy has been taken from the Life Insurance Corporation of India. Any shortfall in the payment of gratuity is debited in the year of payment.
5. Investments have been valued at cost.
70 T HE GAZETTE OF INDIA : EXTRAORDINARY [PART TII—- SEC. 4]T HE I N S T I T U TE OF C H A R T E R ED A C C O U N T A N TS OF I N D I A, N EW D E L HJ
B A L A N CE S H E ET AS AT 3 1 ST M A R C H, 1983
31-3-1983
Schedule
Rx.
Jis.
Rs.
31-3-1982 Rx,
Funds Employed (1) Fixed Assets Gross Block Less : Depreciation
169,09,053 56,27,009
135,86,366 4S.44.774
Net Block
A B .
112,82,044 29,56,147
87,41,592 27,00,668 (2) Earmarked Investments (3) Other Investments :
(a) Fixed Deposits with banks (b) Govt. Securities .
105,06,668 2,506
99,07,766 2,506
C
(4) Net Current Assets
(
105,09,174 —)16,04,973
99,10,272 (—)J,80,797
231,42,392
209,71,735
Financed By : (1) Capital Reserve , (2) General.Reserve . (3) Other.Reserve . (4) Earmarked Funds
D E F G
130.34,154 54,85,242 16,66,849 29,56,147
119,09,154 49,15,059 14,46,554 27,00,668
231,42,392
209. 71 711
The accounts of 12 branches of regional councils, 4 students' associations and 8 branches, having not been received "(he ln/^i V , ~^ figures of assets and liabilities as adjusted by the amount of grant/fee paid or payable have been incorporated. ' available
In respect of 1 branch of the Regional Council and 3 branches of Students* Associations unaudited accounts have been incorporated
P.S. Gopalakrishnon Asliok Kumbhat As per our Report of even da te attache
President
P Nl SMh C.P. Mehra, M R. Venkatamnian Vice-President Chaptered Accountants '
ummls
Secretary J- PrHstt<1 Assistant Secretary New Delhi, 3rd September, 1983
THE INSTITUTE OF CHARTERED ACCOUNTANTS OF INDIA, NEW DELHI INCOME & EXPENDITURE ACCOUNT FOR THE YEAR ENDED 3JST MARCH, 1983
m2~si ~19SI78 2-
I N C O M E — S c h e d u le H
1.
(a) M e m b e rs
(i) R e g u l a t o ry
77,54,695
5i 93 245
(ii) Professional D e v e l o p m e nt & Research . . .. 5 25,81K
• r '1 o' , ,.
(b) S t u d e n ts
82,80,513 58 22 4 07
150.35,382 124,64.'l22
T O T AL 233,15,895 1 8 2 , 8 6 , 5^
E X P E N D I T U R E — S c h e d u le
11.
(a) M e m b e rs
0) R e g u l a t o ry
29.81.139 1 R 5 E 4 06
(ii) Professional D e v e l o p m e nt & Research . . ..
55,52,994 46 m 4 62
(b> S t u d e n ts
85,34,133 64 59 868 133,50,536 1 2 7 . 2 M 74
T O T AL 218,84,669 191,88,342
71( c) S u r p l u s / D e f i c it f or t he y e ar
8 , 4 2 , 4 23
( i) T r a n s f e r r ed to F d u c a t i on F u nd . . ..
5 , 8 8 , 8 03
(—) 1,32.176 (—>7,69,637
14,31,226
(-19,01,813
233,15,895
1,82,86,529
P.S. Gopalakrlsbnan Asliok Kum hat As per our Report of even date-attached
President P-N. Shah C.P. Muhra, M.H. Venkutaraman Secretary J. Prasad Assistant Secretary
Vice-President Chamfered Accountants
12th September, 1983
THE INSTITUTE OF CHARTERED ACCOUNTANTS OF INDIA, NEW DELHI
SCHEDULE
(Amounts in Rupees)
Cost as at
Depreciation
Book Value
Assets
Book Value
Additions
during thre
Cost as at 3-4-1982
7.
31-3-1983 as at
as at
as at
s. Nt
year
31-3-1983
Adjustments
relating to
sales.
31-3-1983
31-3-1982
& others
—.
2,82,693
2,82,693
Land
1.
2,82,693
2,82,693
28,55,550
55,20,880
(a) Buildings . . ..
83,76,430 112,95,633
2.
70,80,797 44,06,806
(—) 13,31,697
(b) Work-in-Progress
13,31,097
—
—
13,31,697
2,20,461
—
8,39,693
Electric Installations & Fittings
3.
10,60,154 5,55,831 5,04,323
3,46,722
Air-conditioning Installations.
5,85,025
6,42,403 12,27,428
—
4.
5,89,578 6,37,850
1,08,009
(a) Lifl-Ncw Delhi
1,57,8K3
—
1,57,883
—
5
1,13,251 44.632
49,591
(b) Lift—Calcutta--Work-in-progress
— 1,26,158 91,26,158
— 1,26,158
Furniture & Fixtures
17,58,224
6.
(—)23,864 3,13,792 20,48,152 9,31,286
11,16,866
9,47,619
Office Equipments
7.
8,48,570
1,41,147
( -) 956
9,88,761 5,60,442
4,28,319
' 3,62,032
Vehicle.
32,779
76,985
(-)32,779
76,985
8.
15,397
61,588
10,741
Library Books . . ..
22,28,922 (—)! 0,737 3,46,224 25,64,409 15,65,591
9.
9,98,118 8,95,682
TOTAL
135,86,366 (—)68,336 33,91,023 169,09,053 56,27,70,00
112,82,044
87,41,592
THE INSTITUTE OF CHARTERED ACCOUNTANTS OF INDIA, NEW DELHI
SCHEDULE 'B'—EARMARKED INVESTMENTS
(Amounts in Rupees)
Fixed Deposits with
Balance in other Bank Government Securities
Totut
Banks
31-3-83 31-3-82
Accounts 31-3-83 31-3-82 31-3-83 31-3-82
31-3-83
31-3-82
A. Education Fund Investments
TOTAL (A)
14,89,963 12,14,008
14,89,963
12,14,008
B. Other Earmarked Investments
6,78,427
(a) Research Fund
6,78,427
6,78,427 6,78,427
(b) Medals & Prizes
Fund
1,59,354 1,51,081
20,480 22,035 80,025 80,025 2,59,859 2,53,141
72 THE GAZETTE OF INDIA : EXTRAORDINARY [PART HI—SEC. 4]Research
—
—
(c) Scientific Fund (d) Others .
2,24,654 2,33,808
2,24,654 2,26,056
4,02K 65,408
4,028 1,00,354
2,28,682 2,99,216
2,2S,682 3,26,410
TOTAL (B) .
12,96,243 12,80,218
89,916 1,26,417 80,025 14,66,184 *O,O25 14,86,660
GRAND TOTAL (A+B)
24,94,226
27,86,206
89,916 1,26,417 80,025 29,56,147
80,025 27,00,66i
THE INSTITUTE OF CHARTERED ACCOUNTANTS OF INDIA, NEW DELHI
SCHEDULE 'C—NET CURRNET ASSETS
(Amount in Rupees)
Particulars
3 1 - 3 - 1 9 83
31-3-1982
Cui rrenl A s s e ts :
20,66,936
20,45,443 P u b l i c a t i o n s, S t u dy M a t e r i a ls a nd S t a t i o n e ry . . .. A m o u n ts R e c e i v a b le :
(a) (b)
I n t e r e st O t h e rs
5,67,216 7,20,171
10,99,028
6,35,847 4,63,181
12,87,387
(c) L o a ns & A d v a n c es :
(0 Advances to Staff . . .. Housing, Car, Cycle Loans—Secured Others—Unsecured
17,97,517 25,226
15,00,645 1,88,445
18,22,743 6,76,273 (ii) Loan Scholarships to Students (iii) Advances in respect of land and new constructions . . 1,55,998 4,93,257 (iv) Others
16,89,090 6,33,927 12,17,062 5,39,732 40,79,)? 11
31,48,271
Cash & Bank Balances
(d)
25,35,67
44,59,024
TOTAL
109,61,618
97,59,956
y : Current Liabilities :
Fees received in advance . . . . . . .. 90,82,442 Creditors for expenses Other liabilities
16,26,006 18,58,143
65,40,904 12,60,190 23,39,659 Lei (a) (b) (O
TOTAL
125,66,591
101,40,753
t Current Assets
(—)16,04,973
(—)3,80.797 Ne
THE INSTITUTE OF CHARTERED ACCOUNTANTS OF INDIA, NEW DELHI
SCHEDULE *D'—CAPITAL RESERVE
(Amounts of Rupees)
Particular:,
31-3-1983
31-3-1982
(a) General
-
Balance as per last account Add : Entrance fee allocated
101,78,102 5,24,425
97,16,528 4,61,574
1,07,02,527
TOTAL
1,01,78,102
(b) Education :
17,31,052
17,31,052 6,00,575
Balance as per last account Add: Transfer from Education Fund
23,31,627
TOTAL
17,31,052
1,30,34,154
GRAND TORAL
1,19,09,154
73THE INSTITUTE OF CHARTERED ACCOUNTANTS OF INDIA, NEW DELHI
SCHEDULE 'E'—GENERAL RESERVE
(Amounts in Rupees)
31-3-1982
31-3-1983
Particulars
58,84,629
49,15,959
Balance as per last account . .
& Expenditure A/c.
(—)7,69,637 Add: Surplus/Deficit transferred from Income
(+)5,88,8O3
51,14,989 (-)l,99,930 Less : Transferred to Other Reserve .
55,03,862 (—) 18,620
49,15,059
TOTAL
54,85,242
THE INSTITUTE OF CHARTERED ACCOUNTANTS OF INDIA, NEW DELHI
S C H E D U LE 'F'—OTHER RESERVE
(Amounts in Rupees)
Particulars
31-3-1983
31-3-1982
Balance as per last account . . . ..
13,11,288 Add : Net Accretion/Depletion during tlie year .
(—)64,364 Transferred from Earmarked Fund Transferred from General Reserve
14,46,854 1,51,375 50,000 18,620
1,99,930
TOTAL
16,66,849
14,46,854
THE INSTITUTE OF CHARTERED ACCOUNTANTS OF INDIA, NEW DELHI
SCHEDULE 'G'—EARMARKED FUNDS
(AmouQts in Rupees)
Particulars
31-3-1983
31-3-1932
A. Education Fund
12,14,008
Balance as per last account Add : Transferred from Income & Expenditure A/c.
Interest earned during the year
8,42,423 1,21,400
13,48,445 (—)1,32,176 1,22,690
13,38,959 Less : Transferred to Capital Reserve
Adjustments
21,77,831 (—)6,00,575 (—187,293
(—)1,24,951
TOTAL (A)
14,89,963
12,14,008
Other Earmarked Funds
( a) R e s e a r ch F u n d—
B a l a n ce as p er l a st a c c o u nt . . ..
6,78,427
6,78,427
( b) M e d a ls & P r i z es F u nd —
B a l a n ce as p er l a st A c c o u nt . . .. A d d i t i o ns d u r i ng t he y e ar . . .. A d d: I n c o me e a r n ed d u r i ng t he y e ar
2,53,141 10,011 16,453
2,25,683 23,000 18,398
2,79,605
2,67,081
( _) 19,746
Less : Cost of Medals & Prizes awarded .
(-)13,94
2,59,859
2,53,141
847 GI/83—10.
74 THE GAZETTE OF INDIA : EXTRAORDINARY [PART III—SEC. 4]P a r t i c u l a rs
3 1 - 3 - 1 9 83
31-3-1982
S c i e n t i f ic R e s e a r ch F u n d—
(c)
B a l a n ce as p i er l a st a c c o u nt . . . . . ..
2 , 2 8 , 6 82
2,28,682
O t h e rs B a l a n ce as p er l a st a c c o u nt . . . . . .. A d d i t i o ns d u r i ng t he y e ar . . . . . .. A d d: I n c o me e a r n ed d u r i ng t he y e ar . . . ..
3 , 2 6 , 4 10 2 , 0 00 2 2 , 8 01
2,63,444 50,000 15,516
3 , 5 1 , 2 11
3,28,960
( ISO (VY\
L e ss : T r a n s f e r r ed to O t h er R e s e r ve . . .. L e s x: E x p e n d i t u re d u r i ng t he y e ar . . . ..
(—)1,995
(—)2,550
2,99,216
3,26,410
T O T AL ( B)
14,66,184
14,86,660
G R A ND T O T AL ( A + B)
29,56,147
27,00,668
THE INSTITUTE OF CHARTERED ACCOUNTANTS OF INDIA, NEW DELHI ANNEXURE TO INCOME & EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31ST MARCH 1983
SCHEDULE (H)
—
TOTAL
MEMBERS
STUDENTS • — —
Regulatory
—
Professional Development
& Research
31-3-83
31-3-83
31-3-82
31-3-82
31-3-83
31-3-82 31-3-83
31-3-82
Rs.
Rs.
RS:
I. INCOME
Rs.
Rs.
Rs.
Rs.
Rs.
1,11,200
1. Entrance Fee
1,09,800 1 ,11,200
—
.
1,09,800
68,46,545 43,81,906
2. Membership Fee
68,46,545
—
43,81,906
3. Post Graduate Course
20,640
—
—,
21,500
20,640
2J,500
Fee
10,94,800
4. Students' Registration
4,66,350
—
—
—
10,94,800
4,66,350
Fee
5. Students'Association Fee 95,200
93,270
—
—
—
95,200
93,270
6. Coaching Fee
54,50,630 49,03,854
—
—
—
54,50,630
49,03,854
67,05,310
7. Examination Fee
54,54,812
—
—
—
67,05,310
54,54,812
2,59,769
R. Journal & News Letter
2,33,034
—
—
—
2,59,769
2 33 034
9. Publications
13,02,435 12,06,608
—
— 3,17,628 2,51,396
9,84,807
9,55,212
10. Interest on Investments 1,54,208 1,53,686
—
88,169
91,003
66,039
62 683
11. Nomination Fee for
Election to Council & Regional Councils
66,950
—
—
66,950
12, Others
2,25,573 3,49,671
—
—
99,381 2,65,263 1,26,192
84,408
SUB-TOTAL
2,23,33,260 1,73,74,491 70,24,695 44,91,706 5,25,818 6,29,162 1,47,82,747
1,22,53,623 •—• .
13. Income from General Fund Investments (Allocated)
9,76,925 9,06,328 7,25,758
_
.
6,97,147
2,51,167
2 09 181
14. Income from Property
(Allocated)
5,710
5,710
4,242
4,392
—
—
1,468
I.31R
TOTAL
2,33,15,895 1,82,86,529 77,54,695 51,93,245 5,25,818 6,29,162 1,50,35,382 1,24,64,122
75SCHEDULE (*)
TOTAL MEMBERS STUDENTS
Regulatory Professional Development
& Rese _rch
31-3-83 31-3-82 31-3-83 31-3-82 31-3-83 31-3-82 31-3-83 31-3-82
IT. EXPENDITURE Re. Rs. Rs. Rs. Rs. R s. Rs.
1. Salaries & Staff Expenses 71,43,364 54,67,608 12,68,420 8,33,705 17,02,394 12,51,569 41,72,550 33,82,334
2. Printing & Stationery 9,64,368 8,37,465 1,26,102 1,35,663 3,73,128 2,97,554 4,65,138 4,04,248
3. Publications 11,43,290 12,03,356 1,90,581 2,70,950 3,83,736 4,63,527 5,68,973 4,68,879
4. Journal & News Letter 14,00,841 13,00,140 — — 11,89,838 11,02,281 2,11,003 1,97,859
5. Coaching (Excluding
Salaries & Staff
Expenses) 17,99,232 23,23,593 17,99,232 23,23,593
6. Examination (Excluding
Salaries & staff
Expenses) 43,12,406 44,70,705 43,12,406 44,70,705
7. Postage, Telegram &
Telephones 5,92,276 5,87,836 1,28,264 1,28,095 1,86,639 1,80,650 2,77,373 2,79,091
8. Rent, Rates & Taxes 8,21,614 4,96,880 1,73,965 95,350 2,68,280 1,81,960 3,79,369 2,1 9,570
9. Repairs & Maintenance 4,43,600 2,09,379 94,252 41,595 1,44,196 73,793 2,05,152 93,991
10. Depreciation 8,08,197 5,51,757 2,01,522 1,37,629 2,01,522 1,37,628 4,05,153 2,76,500
11. Travelling & Conveyance
(a) Council Members 7,05,526 7,53,952 1,67,546 1,50,342 3,45,993 3,56,319 1,91.987 2,47,291
ib) Staff & Others 2,44,086 2,58,272 38,768 22,332 1,37,177 82,002 68,142 1.53,938
]2. Library Maintenance 82,365 57,742 — — 39,028 32,041 43,337 25,701
13. Overseas Relations 2,86,342 98,979 — — 2,86,342 98,979 ,
14. Professional Fees 1,61,953 1,47,858 43,604 42,745 47,569 60,030 70,780 45,083
15. Election 5,48,115 — 5,48,115 — — — —
16. Others 4,27,094 4,22,820 — — 2,47,152 2,83,129 1,79,942 J,39,691
TOTAL 2,18,84,669 1,91,88,342 29,81,139 18,58,406 55,52,994 46,01,462 1,33,50,536 1,27,28,474
THE INSTITUTE OF CHARTERED ACCOUNTANTS OF INDIA, NEW DELHI
STATEMENT OF CHANGES IN FINANCIAL POSITION FOR THE YEAR ENBED 31ST MARCH, 1983
(Rupees in lakhs)
1982-83 1981-82
Source of Funds:
Net Income from investments, property etc. (both on capital and revenue accounts) 12.76 12.06
Capital receipts in the form of entrance fee, donations etc. 06.01 03.50
Decrease in working capital (See statement below) 22.24 14,04
31.01 29.60
Surplus for the year without charging depreciation and considering non-operational income from
investments and property 11.44 (—)13.97
TOTAL 42.45 15.63
Application of Funds
Acquisition of Fixed Assets 33.91 12.03
Acquisition of Investments OR 54
03.60
TOTAL 42.45 15.63
76 THE GAZETTE OF INDIA : EXTRAORDINARY [PART III—SEC. 4]
STATEMENT OF CHANGE IN WORKING CAPITAL
(Rupees in lakhs)
sejPecrcasc
Increa
CURRENT ASSETS
01.12 (a) Publications, Study Materials & Stationery
..
00.22
(b) Amounts Receivable: Interest
(—)02,ll (-X)2.08 Others
.. -.
(—)00.69 02.57
(c) Loans and Advances
07.49
00.17 (i) Advances to Staff (ii) Loan Scholarships to Students
01 34 00,42
06.04 (iii) Advances in respect of land and new construction ..
(—)ip • 61
(_)00.51 (iv) Others
(—)00.46
(_)10.99 (d) Cash & Bank balances
19.23
(—)00.87
TOTAL 12.02
CURRENT LIABILITIES
12.28 (a) Fees received in advance
..
25.42
01.21 (b) Creditors for expenses
..
03.66
(—)00.32 (c) Other Liabilities
..
(—)04.82
13.17
TOTAL 24.26
14,04 Net Decrease in Working Capital
12.24
THE INSTITUTE OF CHARTERED ACCOUNTANTS OF INDIA, NEW DELHI
ANALYSIS OF EXPENSES ON MEMBERS FOR THE YEAR 1982-83
APPENDTX
1981-82 S.No. Particulars
1982-83
27,093 1. (a) No. of Members
29,t76
6,460 (b) Total Expenditure*
Rs. 8,534 Rs.
238 2. Total Expenditure per member
Rs. 293 Rs.
3. Regulartory
1,858 (a) Total Expenditure*
2,981 Rs.
Rs.
68 (b) Expenditure per member
102 Rs.
Rs.
(c) Percentage
35%
29%
4. Professional Development & Research
(a) Total Expenditure*
4,602
5,553 Rs.
Rs.
(b) Expenditure per member
170
191 Rs.
Rs.
(c) Percentage
71%
•Rupees in thousand
P.S. G O P A L A K R I S H N A N, Secy.
PRINTED BY THE MANAGES, OOVT. OF INDIA fKESS, KING ROAD, NEW DELHI-110064
AND PUBLISHED DV THE CONTROLLER Or> PUBLICATIONS, 081.10-110054, 1 9 83
- A draft constitution for the sub-regional body has been prepared and sent to Institute of Chartered Accountants of Bangladesh, Institute of Cost and Management Accountants of Bangladesh, Institute of Chartered Accountants of Pakistan, Institute of Cost and Management Accountants of Pakistan and Institute of Chartered Accountants of Sri Lanka. It is proposed to convene a meeting of these accountancy bodies in New Delhi in Novem- ber, 1983 to consider the same. 2.7 XII International 'Congress of Accountants (a) A delegation led by Shri Ashok Kumbhat, President of the Institute, attended the XII inter- national Congress of Accountants held in Mexico City from 10th to 13ffi October,1982 ↩