national best regional council (2004, 2007, 2008, …...two placement drives for fresher cs members...

AnnuAl RepoRt 2018-19 | 1

38thAnnuAl GeneRAl meetinG of the membeRs of niRC-iCsi

27.07.2019- 4.00 pm | le-meridien, Janpath, new Delhi

ICSI-NIRC Building, 4, Prasad Nagar Institutional Area, New Delhi-110005Tel.: 011-49343000, 25722662 | Email : [email protected]

AnnuAl RepoRt 2018-19

national best Regional Council (2004, 2007, 2008, 2009, 2010, 2011, 2013, 2014, 2015 & 2016)

2 | AnnuAl RepoRt 2018-19

statutory Auditors : M/s. Mittal & Mittal Associates, Chartered Accountants, New Delhiinternal Auditors : M/s. KBDS & Company, Chartered Accountants, New Delhi bankers : Syndicate Bank; Canara Bank; ICICI Bank, Axis BankiCsi headquarters : ICSI House, 22, Institutional Area Lodi Road, New Delhi-110 003 Tel.: 011-45341000 - Email: [email protected]; Website: www.icsi.eduniRC office : 4, Prasad Nagar, Institutional Area, New Delhi-110 005 Tel. : 011-49343000, 25722662 Email : [email protected]

noRtheRn inDiA ReGionAl CounCil

Chapters : Agra, Ajmer, Allahabad, Alwar, Amritsar, Bareilly, Bhilwara, Bikaner, Chandigarh, Dehradun, Faridabad, Ghaziabad, Gorakhpur, Gurgaon, Jaipur, Jalandhar, Jammu, Jodhpur, Kanpur, Karnal-Panipat, Kota, Lucknow, Ludhiana, Meerut, Modinagar, Noida, Patiala, Shimla, Sikar*, Sonepat, Srinagar, Udaipur, Varanasi and Yamuna Nagar.

Cs GuRVinDeR sinGh sARinChairman

Cs Amit GuptAMember

Cs moniKA KohliMember

Cs hitenDeR mehtAEx-Officio Member

shRi K. C. KAushiKRegional Director

Cs suResh pAnDeYVice-Chairman

Cs bhupesh GuptAMember

Cs sAuRAbh KAliAMember

Cs mAnish GuptAEx-Officio Member

Cs VimAl KumAR GuptASecretary

Cs DeVenDeR suhAGMember

Cs suRYA KAnt GuptAMember

Cs nps ChAWlAEx-Officio Member

Cs susshil DAGATreasurer

Cs himAnshu hARbolAMember

Cs VinAY shuKlAMember

Cs RAnJeet KumAR pAnDeYEx-Officio Member

Cs Vineet K. ChAuDhARYEx-Officio Member

*Management committee under constitution.


Chairman’s messageDear professional Colleagues,

On behalf of the Northern India Regional Council of The Institute of Company Secretaries of India (NIRC- ICSI), I am gratified to welcome you all to the 38thAnnual General Meeting of NIRC- ICSI and present before you the Annual Report of your Council along with the Audited Annual Accounts and the Performance Report of the Council for the period ended 31st March, 2019.

At the outset, let me extend my heartiest thanks to all of you for kind support and the faith in your Council and NIRO. It is only because of your continuous support that NIRC-ICSI is persistently setting-up new benchmarks of professional excellence. We are putting our best to develop high caliber professionals which will ensure better facilitation for Corporate Governance and compliances.

NIRC- ICSI has chosen the endeavor for the year 2019-20 as “DeVelopment to AChieVe eXCellenCe “.

All the activities of NIRC- ICSI during the year were aimed towards achieving the spirit of above mentioned thought. In order to implement the same the followings are the areas identified to be acted upon during this tenure of the Regional Council for development of NIRC as well as Chapters:

sKill set DeVelopment of the membeRs & stuDents:NIRC has been organizing various programme to improve professional, legal, management and representational skills of students & members. To strengthen the quality of the programmes and to encourage the large participation of the members & students, various schemes such as Corporate membership scheme, Corporate sponsorship scheme & Yuva Corporate membership scheme were launched.

Under this endeavour your Regional Council has approved the “mAsteR ClAsses sCheme” for all the chapters of NIRC-ICSI irrespective of the grading of the chapter. In this scheme any chapter may organise maximum two


programmes (One on NCLT/NCLAT and second on Company Law) under this scheme on self-sustained basis and in case of deficit, maximum reimbursement from NIRC-ICSI will be limited to Rs. 25,000/- per programme. These steps will not only improve the skill set of the members, but also steps towards the hand holding of the Chapters.

The students are the backbone of any profession. The same is true in our case as well. Accordingly with an intent to build capacity of our students and make them competent, your NIRC is regularly organizing various quality training programmes (like PDP, EDP, Academic Programs, MSOP etc.), Oral Tuition Classes for the students. To give forthwith information of the student programmes, NIRC has planned all the programmes in advance till September 2019 and same were uploaded on the web page of the NIRC. Further NIRC is committed to provide best services to the students undergoing Oral Tuition classes, training programmes and also students availing the facilities of the library & reading room at NIRC.

During this period the first of its kind special Crash Course for June 2019 Examination was launched for the CS executive students with various salient features.

infRAstRutuRe DeVelopment:NIRC has taken various steps to improve the infrastructure of NIRC as well as of the chapters. Various proposals of Ajmer, Allahabad, Alwar, Bhilwara, Bareilly, Shimla, Faridabad, Ghaziabad, Gurgaon, Jaipur, Jodhpur, Kota, Ludhiana and Modinagar were considered and recommended to the ICSI- HQ for the final disposal.

Further to improve infrastructure of the NIRC detailed proposal were approved by the Purchase, Infrastructure, Budget and Dispose-Off Committee of NIRC-ICSI, after the approval of the Regional Council and ICSI HQ all the projects will be completed within 3-4 months.

I am pleased to mentioned that during this tenure, constitution of three new chapters i.e. Patiala (Punjab), Gorakhpur (UP) and Sikar (Rajasthan) have been approved by the Council of ICSI. The first managing committee of Patiala & Gorakhpur chapter has been constituted. The Yamuna Nagar Chapter has been converted into Contact Point.

tRAininG AnD plACement DeVelopment:Towards this initiative various student training programmes were undertaken during this tenure till date. Further two placement drives for fresher CS members including Mega Placement Drive were held on 05.04.2019 and 17.05.2019 at NIRC and One Campus Placement for Students for 15 Months Training/ Modified Training Structure was also organized. Under this initiative total many members and students were placed till date. Further NIRC have been planning to pursue with chapter to organize campus placement drive for the placement of members and students at chapter level and NIRC will be extending all support, guidance and help to the chapters.

bRAnD builDinG DeVelopment:Under MOU in the year 2016, ICSI honors topper B.Com of Panjab University every year through their ICSI Signature Award. This time Gold Medal was awarded to Ms. Mehak Mittal, resident of Dera Bassi, Punjab. Vice President M. Venkaiah Naidu attended the 68th convocation of Punjab. On the instructions of the President ICSI, NIRC represented in the Convocation for awarding ceremony. This award was started by ICSI to increase the awareness about CS profession. This award provides the provision of free education from ICSI and event was widely covered by the Print Media.

Further NIRC has conducted 48 career awareness programmes and participated in 3 career fairs to create awareness of the CS Profession among the students from Janaury 2019 to till date.

Your Regional Council considered and deliberated on compulsory adoption of the SS-I for the Meetings of the Management Committees & sub committees of the Management Committees by all the Chapters of NIRC-ICSI for the Meetings scheduled with effect from 1stday of July, 2019 and recommendation to the ICSI HQ to make compulsory adoption of SS-I for the Meetings of all the Chapters and the Regions to ensure better compliances, transparency, good governance and smooth functioning of the Chapters and Regions .


CompliAnCe DeVelopments:All the chapters of NIRC-ICSI were advised to adopt SS-I for the Meetings of Management Committees & sub committees of the Management Committees which are scheduled with effect from 1st day of July, 2019 and recommendation was also send to the Council of ICSI to consider compulsory adoption of SS-I for the Meetings of all the Chapters and Regions to ensure better compliance, transparency, good governance and smooth functioning of Chapters and the Regions in Pan India. This is one of the major steps taken by NIRC towards the Brand Building of ICSI.

DeVelopment toWARDs neW emploYment & pRACtiCe AReAs:NIRC is committed to this endeavour and has started working to explore new areas and avenues of employment & practice. On the occasion of the Labour Day (01.05.2019) representation on behalf of the ICSI under the signatures of the President ICSI was handed over to the Sh. Lallan Singh, Jt. Labour Commissioner, Department of Labour, NCT Delhi, for third party certification from Practising Company Secretaries under the labour laws. Similiar representation was given to the Labour Commissioner, Punjab also. Further NIRC is exploring more and more new avenues of employment & practice in consultation with the ICSI-HQ and hopeful to achieve desired results.

heAlth AnD soCiAl seCuRities DeVelopment:In order to encourage more and more members of the Institute under the security umbrella of CSBF, the NIRC has observed May 2019 as ‘CSBF Month’ throughout the Northern Region. All the chapters of NIRC- ICSI were sensitized and were requested to set-up camps during the programmes for enrolment and dissemination of information. The NIRC has also come out with informative brochures and detailed ppt on the subject.

To creates more awareness special blood donation camp was organised on 11.05.2019 in association with the Lions Club at NIRC.

Your NIRC shall be continuing in doing all such activities which are required for the betterment of the profession. We assure you that in future our efforts will be more confined and concentrated on enhancement of capacity of our members and students. This will sharpen skills of the members and students and also update their domain knowledge. Hence, will enable us to encash the new opportunities available in the market.

Your NIRC is committed to organize quality enhancement programs on various contemporary topics. These programs include such as seminars, workshops, symposia and others. We request you all to kindly give your suggestions on the themes and sub themes for future programs.

At the conclusion, on behalf of the Council and on my own behalf, I extend enormous gratitude to all our learned members, beloved students, guest speakers and faculty members for academic and professional development programs, President, Vice President and Central Council of ICSI, Secretariat of ICSI, Chief Guest and Guest of Honors to the various programs for their continued support and encouragement. I take this opportunity to thank my colleagues in the Council for their valuable support, cooperation and guidance.

At NIRC, it will be our endeavor to bring honour to this high office and to further enhance the prestige of the Institute & the profession. I am fortunate to have a very strong & vibrant team at NIRC working very closely with me & taking care of various committees assigned to them.

Looking forward for your feedback and suggestions.With thanks and best wishes,

Yours Sincerely,

Cs Gs sARin Chairman, NIRC-ICSI

9814685649


inDeXContents page no.

notice of Annual General meeting 07

Report of the Council 08programs / meetings organised by

niRC during 2018-19 18

Auditors’ Report 22

balance sheet 24

income & expenditure statement 25

Cash flow statement 26

note(s) to Accounts 27

About the niRC of iCsi 38


notiCe of AnnuAl GeneRAl meetinG

Notice is hereby given that the 38th Annual General Meeting of the members of The Institute of Company Secretaries of India (ICSI) in the Northern Region, forming part of northern india Regional Council (niRC), will be held on saturday, the 27th July, 2019 at 4.00 p.m. at hotel le-meridien (sovereign hall), Janpath, new Delhi-110 001, to transact the following business(s):

1. To receive, consider and adopt Audited Balance Sheet as at 31st March, 2019, the Income and Expenditure account for the year ended on that date, Report of the Regional Council and Auditors’ thereon.

2. To appoint Statutory Auditors to hold office from the conclusion of this Annual General Meeting until conclusion of the next Annual General Meeting and to fix their remuneration.

by order of the northern india Regional Council of iCsi

place: new Delhi (Cs VimAl KumAR GuptA)Dated : 11th July, 2019 Secretary, NIRC-ICSI

note(s):

1. The members are requested to send their queries on financial accounts and/or functioning of NIRC through email at [email protected] or by any other mode, at least three days in advance, so that answers may be made available at the meeting.

2. Members are requested to update the changes in their address (es), e-mail IDs, contact details and other particulars at [email protected] for enabling NIRC to disseminate information about activities and programs.

3. In order to promote the Green Initiative, the ICSI vide its letter dated 21.10.2011 has directed all its Regional Councils to send the Annual Report to the members through electronic mode. Accordingly, NIRC is sending Annual Report for the year 2018-19 through e-mail. Members may also view/download Annual Report from the child portal of NIRC ICSI (www.icsi.edu/niro). Copies of the Annual Report will also be available at the venue of the AGM i.e. on 27th July, 2019.

4. Members interested to receive the printed version of Annual Report should send their request at least 4 days prior to the date of the AGM. The printed version of the Annual Report shall be dispatched on receipt of such request.


RepoRt of the noRtheRn inDiA ReGionAl CounCil of

the institute of CompAnY seCRetARies of inDiA

Dear Members,

The Northern India Regional Council of The Institute of Company Secretaries of India is pleased to present its 38th (Thirty Eighth) Annual Report and Audited Annual Accounts for the year ended March 31, 2019:

finAnCiAl Results:

The working results for the year under report are as under:(Amount in Rs.)

particulars 2018-19 2017-18Total Income 3,05,78,804 3,08,87,389Total Expenditure 2,11,90,505 2,47,16,187Excess of Income over Expenditure 93,88,299 61,71,202

stAtus of membeRship:

The status of Members, Associate Members, Fellow Members and Members in practice from the Northern Region consisting of States of Himachal Pradesh, Jammu & Kashmir, Haryana, Punjab, Rajasthan, Uttarakhand, Uttar Pradesh, National Capital Territory of Delhi and Union Territory of Chandigarh are as follows:

particulars 2018-19(As on 31 march, 2019)

2017-18(As on 31 march, 2018)

Total number of members 18,858 17,944Associate Members 15,635 14,883Fellow Members 3,223 3,061members in practice 4,028 3,759

stAtus of stuDents ReGistRAtion:

The status of registered students for Foundation, Executive and Professional Course are as under:

Course(s) 2018-19(As on 31 march, 2019)

2017-18(As on 31 march, 2018)

Foundation Course 14,955 15,245Executive/Professional Program 74,365 85,407Total number of Registered Students 89,320 1,00,652

ACtiVities of the noRtheRn inDiA ReGionAl CounCil:

Northern India Regional Council is one of the four Regional Councils which organizes professional development and continuing education programs for members, Oral Coaching Classes & Training and Development Programs for students.


The NIRC with a view to build the professional capacity of the members continued to organize various professional development programs like Seminars, Workshops, State Conferences, Talks, Study Session Meetings, Meetings of Practising Company Secretaries and also other social programs such as family get together and new year eve celebration, etc.

The NIRC with a view to provide the best of the training and other facilities for the students arranged oral coaching, refresher courses, provided facilities of library and reading room and organized various training programs viz. Management Skill Orientation Programs (MSOP), Executive Development Programs (EDP), Professional Development Programs (PDP) and 15 Days Academic Programs etc.

DetAils of the pRoGRAms & Competitions oRGAniseD bY the niRC foR the YeAR unDeR RepoRt ARe GiVen in AnneXuRe ‘A’ to this RepoRt:

In another shift from routine, NIRC-ICSI organized various social/cultural programs for members like participation in the Airtel Delhi Half Marathon, Capacity Building Conference for members & their families apart from organizing professional development programs. Members thoroughly enjoyed these events. It surely created a perfect bonding in the families of members and brought them together to make a large, strong & vibrant NIRC Family.

CAmpus plACement At niRC:

Campus placements organized by NIRC-ICSI turned out to be a fruitful endeavour and were very well appreciated. More such Campus Placements are being planned out to provide ample opportunities for training & jobs to the students/newly admitted members. During the year, NIRC-ICSI organized the following campus placements for students & newly admitted members especially for MSOP participants for helping them in finding out the suitable job:

a) 4 Campus Placements were organized during the year for MSOP Participants including one Mega Placement Drives. Many companies /Company Secretaries in Practice participated in the campus placements to hire the fresher Company Secretaries. The very idea behind this hand- holding exercise was to motivate fresher’s at the starting stage of profession itself and boost up their confidence to next level.

b) 3 Campus Placements were organized for trainees in which many recruiters participated and lots of students got training from said initiative.

suppoRt to CompAnY seCRetARies beneVolent funD (Csbf):

Membership of the Company Secretaries Benevolent Fund is a noble cause. It is corpus from which Institute provides immediate financial support to the family of the deceased members who are in dire need of financial help. In order to promote and strengthen the Company Secretaries Benevolent Fund, NIRC has taken the following initiatives during the year 2018-19:

a) Contributed Rs. 3,08,560/- to CSBF from the funds of NIRC.

b) Appeal for becoming members of CSBF is regularly been made in NIRC-ICSI Newsletter, MSOPs and other professional development programs.


c) Put stall/counter of CSBF at all the Professional Development Programs.

d) Displayed CSBF banner at all the Professional Development Programs.

e) Displayed the logo of CSBF at the backdrop of every seminar.

During the year, NIRC celebrated two dedicated CSBF week in which many Company Secretaries have become members of the CSBF during the year from NIRC.

oRAl CoAChinG ClAsses (eXemplARY ot ClAsses thRouGh CReAtiVe & effeCtiVe leARninG):

The NIRC is regularly organising the oral coaching/refresher classes for the benefit of students at all stages i.e. Foundation, Executive and Professional Programs at very reasonable charges. Students from across the northern states are coming to NIRC for taking the classes. In order to maintain the transparency and the quality of faculties, NIRC has constituted a panel of renowned academicians for selecting a pool of faculties for taking oral coaching classes at NIRC.

During the year, NIRC provided financial assistance for the students under Economically Weaker Section (EWS) scheme for bonafide registered students of ICSI, who intended to register for Oral tuitions classes (OTC) conducted by NIRC.

CoRpoRAte membeRship sCheme:

The Corporate Membership Scheme of NIRC is becoming very popular day by day and is very well appreciated & accepted by the members. During the year under report, the response to this scheme was very encouraging. NIRC had organised number of high quality professional development programs.

During the year, your NIRC of the ICSI had introduced two new variants to the existing Corporate Membership Schemes of NIRC i.e.:

• Apart from regular programs being organized by the NIRC of the ICSI at New Delhi, we have covered all Chapters of NIRC of the ICSI under the said scheme and all programs organized by such Chapters were made available free of cost to members of this particular scheme. More than 16 Professional Development Programs organised by Chapters were supported through this scheme.

The total number of Corporate Members registered is as under:

Year(s) 2018-19 2017-18Number of Members 830 955

iCsi-ConVoCAtion:

Convocation is a special occasion in the life of every member. It marks the culmination of a phase of learning. The two convocations in the Northern Region were organized at New Delhi. 970 newly admitted members from Northern Region & their relatives participated in the events. It was a great encouraging experience for fresh members of the profession. The press & media also covered it elaborately. The smile on faces of all our newly inducted members & proud feeling on the faces of the


parents was the biggest reward.

AWAReness pRoGRAms & bRAnD buiDinG:

In order to give publicity about the profession in the print media/electronic media, press conferences were organized all over Northern Region during the year and also with the same objective, NIRC participated in the Airtel Delhi half marathon & got excellent coverage by print & electronic media.

NIRC has also organized Investor Awareness programs under the ageis of Ministry of Corporate Affairs for the benefit of public at large. All these programs were appreciated by the participants.

CoRpoRAte soCiAl ResponsibilitY:

NIRC is concerned and committed to support the social cause. The NIRC has taken the following initiatives towards the same:

• organized blood donation camp

• Go Green initiatives-environment friendly measures:

• In this direction NIRC has taken following new initiatives:• Plantation of Sapling in ICSI- NIRC Building• Switching off the lights during the lunch hours etc.

ReGionAl CounCil meetinGs:

The Regional Council had four meetings during the financial year 2018-19. The summary of Regional Council Meetings is as under

s.n. Regional Council meeting no. Date of meeting1 235th meeting 29/05/20182 236th meeting 30/09/20183 237th meeting 28/12/20184 238th meeting 19/01/2019

The summary of attendance of Regional Council Members in Regional Council Meetings held from 01/04/2018 to 18/01/2019 is as under:

s.n. name of the Regional Council member

Designation no. of meeting attended out of 3

(three)1 CS Pradeep Debnath Chairman 32 CS Rajeev Bhambri Vice-Chairmen 23 CS Nitesh Kumar Sinha Secretary 24 CS Amit Gupta Member 25 CS Avtaar Singh Member 26 CS Deepak Arora Member 27 CS Dhananjay Shukla Member 3



Designation no. of meeting attended out of 3

(three)8 CS Manish Aggarwal Member 39 CS Manish Gupta Member 3

10 CS Monika Kohli Member 311 CS NPS Chawla Member 312 CS Saurabh Kalia Member 213 CS Ranjeet Kumar Pandey Ex- Officio 314 CS Satwinder Singh Ex- Officio 215 CS Shyam Agarwal Ex- Officio Nil16 CS Rajiv Bajaj Ex- Officio Nil17 CS Vineet K Chaudhary Ex- Officio 1

The summary of attendance of Regional Council Members in Regional Council Meetings held from 19/01/2019 to 31/03/2019 is as under:


Designation no. of meeting attended out of 1 (one)

1 CS Pradeep Debnath Chairman (2018) 12 CS Gurvinder Singh Sarin Chairman 13 CS Suresh Pandey Vice-Chairman 14 CS Vimal Kumar Gupta Secretary 15 CS Susshil Daga Treasurer 16 CS Amit Gupta Member 17 CS Bhupesh Gupta Member 18 CS Devender Suhag Member 19 CS Himanshu Harbola Member 1

10 CS Monika Kohli Member 111 CS Saurabh Kalia Member 112 CS Surya Kant Gupta Member 113 CS Vinay Shukla Member 114 CS Hitender Kumar Mehta Ex-Officio Member 115 CS Manish Gupta Ex-Officio Member 116 CS NPS Chawla Ex-Officio Member 117 CS Ranjeet Pandey Ex-Officio Member 118 CS Vineet K Chaudhary Ex-Officio Member 1

funCtionAl Committees:

The NIRC-ICSI nominated the following Regional council Members as Chairman of the various committees for 2019 for the purpose of carrying out the functions entrusted to the Regional Council by the Institute, the details of which are as under:


s. no. name of the Committee name of the Chairman1. Executive Committee (EC) CS Gurvinder Singh Sarin2. Finance Committee(FC) CS Susshil Daga

3.Purchase, Infrastructure, Budget and Dispose-Off Committee

CS Gurvinder Singh Sarin

4. Training & Educational Facilities Committee (TEFC) CS Surya Kant Gupta5. Chapters Development Committee CS Susshil Daga

6.Professional Development and Programs Coordination Committee (PDPC)

CS Himanshu Harbola

7. Women Empowerment Committee CS Monika Kohli8. Brand Building & Public Relations Committee CS Saurabh Kalia9. Oral Tuition & Library Committee (OTLC) CS Vimal Kumar Gupta

10. Practising Company Secretaries Committee (PCS) CS Suresh Pandey11. MSOP Committee CS Devender Suhag12. Research & Publication Committee CS Amit Gupta13. Career Awareness Committee CS Bhupesh Gupta14. Young Members Empowerment & Placement Committee CS Vinay Shukla15. Social Welfare of members & benevolent fund Committee CS Gurvinder Singh Sarin16. Corporate law Committee CS Gurvinder Singh Sarin

futuRe outlooK of the CounCil:

The main area of work for Northern India Regional Council (NIRC) is building the capacities of members & the students. NIRC is focused & committed in its approach and is very regularly organizing various quality Professional Development Programs and training programs for members & students respectively and will continue to organize the same with full zeal & enthusiasm.

NIRC will plough back its surplus in taking various measures for building the capacities of members & students and in the development of infrastructure. Although the surplus of NIRC has declined due to a reduction in new student registrations, change in student training programs, NIRC has, inter-alia, planned the following actions to increase surplus and surpass earlier standards:

• Intense focus on increasing the number of students in oral coaching classes.

• Increase in the number of student enrolments by aggressively conducting career awareness programmes.

• By joining hands with various other associations for sponsoring and contributing to the activities of NIRC.

• Bringing out with NIRC publications.

Your Council is ready to work breathlessly with full enthusiasm in the following spheres:

• Securing recognitions for the members in various unexplored areas.


• Carrying out extensive research and publication activities covering various economic spheres

• Making representations to the Council in connection with matter of professional & business interest and offering suggestions for raising the standard and status of the profession.

• Developing Soft Skills apart from the academic knowledge of the members & the students.

• Providing basic infrastructure in all the Chapters of the Northern Region

• Organizing placement camps for the members & students of the institute.

• The Regional Council will continue to organize more & more Research Paper competitions for its members.

• The Regional Council is committed to bring out more advanced and informative material similar to the planner for the benefit of members etc.

ACKnoWleDGements

The Regional Council places on record its appreciation and sense of gratitude to the officers of the Central/State Governments and Bank/Financial Institutions, particularly the Ministry of Corporate Affairs, NCLT/NCLAT, RBI, SEBI, NSE, BSE, DSE, Regional Director and Registrars of Companies in North India, CBEC, VAT, Services Tax Departments, Labour Commissioners, and all other government departments for their continued guidance/support patronage and participation in the professional development activities of the Regional Council during the year. We also express our sincere gratitude to the faculty members, speakers and sponsors of the various programs organized by the Regional Council during the year.

The Regional Council also places its gratitude to the President, Vice-President, Central Council Members, Past Presidents, Secretary and other officials of the ICSI, Past Chairmen of NIRC, the office bearers and members of the Managing Committee of the Chapters of the NIRC, the faculty members of the Oral Coaching Classes, PDPs, EDPs, Academic Programs and MSOPs, the members and students from the Northern Region who have immensely contributed for the success of NIRC activities.

The Regional Council also places on record its deep appreciation to the officials of NIRC at all levels for the contribution made by them for implementing the decisions of the Regional Council during the period under review.

For and on behalf of NIRC of the ICSI

Place : New Delhi (Cs Gurvinder singh sarin)Date : 11th July, 2019 Chairman, NIRC-ICSI


AnneXuRe - A

pRoGRAms/ meetinGs oRGAnizeD bY niRC-iCsi DuRinG 2018-19:

NIRC-ICSI organized the following major programs for the members during the year under Report:

Date Details of the program

07.04.2018 One Day Seminar on IBC & GST(E way Bill) - Organised by Noida Chapter in association with NIRC

14.04.2018 Workshop on Motivation and Opportunities exclusively for Female Company Secretaries

14.04.2018 East Zone Master Class on Allotment of Securities21.04.2018 Seminar on Broad Process Of IPO & Recent Developments in SEBI Laws

27.04.2018 CS Connect – through Skype on Practical issues related to implementation of CODS scheme and revival of companies”

28.04.2018 Workshop on Corporate Restructuring

29.04.2018Haryana State Conference (Host: Faridabad Chapter) on Contemporary Law & Challenges for Corporate In India

06.05.2018UP State Conference (Host: Kanpur Chapter) on Understanding the Contemporary Corporate Laws

06.05.2018 North Zone Master Class on Compounding of Offences

12.05.2018One Day Seminar on Spread the Wings of Professionals under NCLT & IBC jointly with NIRC-ICAI

13.05.2018 Full Day Seminar on Opportunities for CS in Era of GST & Companies Act

19.05.2018Workshop on Start Ups and Work Life Balance exclusively for Female Company Secretaries

19.05.2018Seminar on CS: Expanding Horizons organised by NIRC in association with Jaipur Chapter

21-25.05.2018 Five Days Classroom Series on NCLT & NCLAT – Practice & Procedure

26.05.2018 East Zone Master Class on Application to NCLT under Insolvency & Bankruptcy Code

11.06.2018 ICSI Mega Campus Drive-201814.06.2018 Program on Mock Annual General Meeting15.06.2018 Celebration of PCS Day16.06.2018 Seminar on Catering to Diversity - CS Be the Valuer24.06.2018 Special Session on How to succeed in exams, interviews and jobs26.06.2018 CS Connect – through Skype on Practical issues related to GST & ITR Returns”

30.06.2018 - 01.07.2018

GST Day Celebration

01.07.2018 Van Mahotsav 21.07.2018 Symposium on the theme “NCLT Proceedings & Quality of Professional Services”22.07.2018 West Zone Master Class25.07.2018 Blood Donation Camp28.07.2018 Seminar on the theme “Partner In Excellence - CS Be The GST Practitioners”28.07.2018 37th Annual General Meeting of NIRC- ICSI


Date Details of the program

28.07.2018East Zone Master Class on Latest Changes in Companies Act, 2013 and rules alongwith amendments in SEBI Act, 1992

29.07.2018Mega Programme at New Delhi ” “Global Contours of Capital Market: Signpost of Good Governance”

11.08.2018 Workshop on the theme "Stress Management and Smart Investment Strategies”12.08.2018 Conduct of ICSI-IPA Recruitment Exam15.08.2018 Independence Day Celebration: Flag Hosting Ceremony & Kavi Sammelan

18.08.2018Rajasthan State Conference on the theme “Moving to Mastery in Regulatory Changes”

18.08.2018East Zone Master Class on Topic- GST Recent amendments & Opportunities to the Company Secretaries

20-24.08.2018 5 Days Crash Course for Members25.08.2018 Seminar on the theme “ Company Secretaries in the eyes of Entrepreneur”27.08.2018 CS Connect – through Skype on Practical issues related to DIR- 3 KYC”8.09.2018 Seminar on the theme” Company Secretary to Embrace the Changes”

20.10.2018 Workshop on GST: E Way Bill, Input Tax Credit, Annual Return, TDS under GST

27.10.2018Seminar on the topic “NBFC & FEMA: Recent Developments and Opportunities” at Eros Hotel, Nehru Place, New Delhi

17.11.2018Seminar on “ICSI Vision 2022 & Recent Developments in Companies Act” at Hotel Piccadily, Janakpuri, New Delhi

8.12.2018 Seminar on “Commercial Contracts: Negotiation, Drafting and Litigations”.04.01.2019 New Year Celebration07.01.2019 CS connect on filling of various returns

09-10.01.2019 Panel interaction for selection of visiting faculty at NIRC12.01.2019 Seminar on the Expert in anything was once a beginner17.01.2019 New India: Surging ahead (Role of good governance)26.01.2019 Republic Day Celebration05.02.2019 Analysis of Union Budget 2019 (Interim) & Opportunities for CS under tax laws06.02.2019 Program on " Recent Amendments Under Companies Act" on 6.02.2018

19.02.2019Opportunity given to the members to become the members of functional committees and student facilities

23.02.2019Seminar on Recent Development on Corporate Laws- Opportunities & Challenges

08.03.2019 International Women's Day Celebration

09.03.2019Workshop: Recent Amendment nn Companies Act , 2013 (Special Focus on INC 22A, Concept of MSME & DPT-3)

11.03.2019-15.03.2019

5 Days Master Classes on NCLT

16.03.2019Seminar on Secretarial Audit: A mandate & Governance Transparency (Special Focus on LODR)

19.03.2019Program on “Decriminalization of offences under Companies Act, 2013- Company Ordinance Act, 2019" & Holi Celebration at NIRC-ICSI


iCsi eleCtion, 2018

NIRO had active participation in the ICSI Election, 2018 which includes allocation of polling booth to members of region, appointment of polling officers, booking of polling booths, counting of votes for the entire ICSI and other administrative support required in the election process.

tRAininG AnD DeVelopment pRoGRAms foR stuDents (01/04/2018 to 31/03/2019) :

The students of ICSI are backbone and future of the profession. The efficient and effective nurturing of each and every student is on high priority of your Regional Council. In order to achieve this objective, during the year, NIRC organized various qualitative training and other development programs for benefit of the students. The details of said programs are as under:

program number of programs organized

number of students

participatedManagement Skills Orientation Programs (MSOP) 12 591Professional Development Programs (PDP) 21 575Executive Development Programs (EDP) 9 36915 days Academic Programs:

• 2 days Induction 6 283• 3 days e-Governance 8 329• 5 days Skill Development 4 155• 5 days Entrepreneurship Development 4 140

MSOP is always a prime program of NIRC of ICSI. The MSOPs held at NIRC have always been appreciated by most of the professionals and is considered as one of the best MSOPs across India.

niRC-iCsi Also oRGAnizeD the folloWinG pRoGRAms foR the stuDents DuRinG the YeAR unDeR RepoRt:

• 16th All India Students Moot Court Competition, 2018 - Regional Level• 18th All India Company Law Quiz, 2018 – National Level• 17th All India Elocution Competition, 2018– Regional Level• 18th All India Essay Writing Competition, 2018• Moot Court Competition for Members and Students.• Practical Training on NCLT Practice & Procedure


inDepenDent AuDitoR’s RepoRttothe members of niRC of the iCsiRepoRt on the AuDit of the finAnCiAl stAtements

opinion

We have audited the accompanying standalone financial statements of noRtheRn inDiA ReGionAl CounCil of the institute of CompAnY seCRetARies of inDiA, New Delhi which comprise the Balance Sheet as at 31st March 2019 and the statement of Income and Expenditure, Cash Flow and a summary of the significant accounting policies and other explanatory information.

In our opinion and to the best of our information and according to the explanations given to us, said Balance Sheet, the Income and Expenditure Accountand Cash Flow Statement read together with the Schedule & Notes thereon give a true and fair view.

1. In so far as it relates to the Balance Sheet of the State of Affairs of the‘NIRC of the ICSI’ as at 31st March, 2019 and

2. In so far as it relates to the Income and Expenditure account of the Excess of Income over the Expenditure of the ‘NIRC of the ICSI’ for the year ended on that date.

3. In so far as it relates to the Cash Flow Statement of Cash Flow of the‘NIRC of the ICSI’ for the year ended on that date.

bAsis foR opinion:

We conducted our audit in accordance with the Standards on Auditing (SAs) generally accepted in India. Our responsibilities under those Standards are further described in the Auditor’s Responsibilities for the Audit of the Financial Statements section of our report. We are independent of the Entity in accordance with the Code of Ethics issued by the Institute of Chartered Accountants of India together with the ethical requirements that are relevant to our audit of the financial statements, and we have fulfilled our other ethical responsibilities in accordance with these requirements and the Code of Ethics. We believe that the audit evidence we have obtained is sufficient and appropriate to provide basis for our opinion.

ResponsibilitY of the mAnAGement foR the finAnCiAl stAtements:

The NIRC of the ICSI are responsible for the preparation of these financial statements that give a true and fair view of the financial position and financial performance and cash flow of NIRC of the ICSI in accordance with the accounting principles generally accepted in India and formulated by the ICSI. This responsibility also includes maintenance of adequate accounting records in accordance with the applicable provisions for safeguarding the assets of the NIRC of the ICSI and for preventing and detecting frauds and other irregularities; selection and application of appropriate accounting policies; making judgments and estimates that are reasonable and prudent; and design, implementation and maintenance of adequate internal financial controls, that were operating effectively for ensuring the accuracy and completeness of the accounting records, relevant to the preparation and presentation of the financial statements that give a true and fair view and are free from material misstatement whether due to fraud & error.

AuDitoR’s Responsibilities foR the AuDit of the finAnCiAl stAtements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with SAs will always detect a material misstatement when it exists. Misstatements can arise from


fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

As part of an audit in accordance with SAs, we exercise professional judgment and maintain professional skepticism throughout the audit. We also:

• Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.

• Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by management.

• Conclude on the appropriateness of management’s use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty “exists related to events or conditions that may cast significant doubt on the Entity’s ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor’s report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor’s report. However, future events or conditions may cause the Entity to cease to continue as a going concern.

• Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation.

fuRtheR, We RepoRt thAt:

a) 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 subject to:-

b) In our opinion, proper books of accounts as required by law & ICSI have been kept by the ‘Regional Council’ so far as it appears from our examination of books & records.

c) The Balance Sheet, the Income and Expenditure Account and Cash Flow Statement are inagreement with the books of accounts presented before us.

d) In our opinion Income and Expenditure Account, Balance Sheet and Cash Flow Statement comply with the accounting guidelines, as adopted by the Institute.

For MITTAL & MITTAL ASSOCIATES CHARTERED ACCOUNTANTS

Firm Regn. No. 014511N

sd/-(CA muKesh mittAl)

Membership No. 092534Partner

Place: New Delhi Date: 31.05.2019


niRC of the iCsibAlAnCe sheet As At 31st mARCh, 2019

(Amount in Rs.) pARtiCulARs note no. As at

31st march 2019As at

31st march 2018 i. souRCes AnD liAbilities (1) Reserves & surplus (a) Reserve & Surplus 1 127,057,286 117,977,547 (b) Earmarked Funds 2 - -

sub-totAl (1) 127,057,286 117,977,547 (2) non- Current liabilities

sub-totAl (2) - - (3) Current liabilities (a) Short Term Borrowings - - (b) Sundry Creditors 3 1,056,146 4,518,355 (c) Other Current Liabilities 4 3,491,575 9,655,254 (d ) Short term Provisions 5 942,442 257,102

sub-totAl (3) 5,490,163 14,430,711 totAl (1+2+3) 132,547,449 132,408,258

ii. Assets (1) non-current Assets (a) fixed Assets 6 (i) Tangible Assets 8,931,006 10,006,619 (ii) Intangible Asssets 42,317 63,475

8,973,323 10,070,094 (b) non-current investments 7 67,190,457 52,259,879 (c ) long term loan and Advances - - (d) other non-Current Assets - -

sub-totAl (1) 76,163,780 62,329,973 (i) NIRC Contribution to HQ Building 22,469,247 22,469,247 (ii) NIRC Contribution to Bhilwara Chapter Building 2,000,000 2,000,000 (iii) Udaipur Chapter-Land 907,685 157,500 (iv) Faridabad Chapter - Building 1,163,292 1,163,292 (v) Gurgaon Chapter - Contribution for Land 5,043,432 5,043,432

sub total (2) 31,583,656 30,833,471 (2) Current Assets (a) Current Investments 8 12,987,536 15,070,123 (b) Inventories 9 - 39,612 (c ) Sundry Debtors 10 - - (d) Cash and Cash Equivalents 11 1,394,475 12,003,688 (e) Short terms Loans and Advances 12 - 488,532 (f ) Other current Assets 13 10,418,002 11,642,859

sub-totAl (3) 24,800,013 39,244,814 totAl (1) + (2) + (3) 132,547,449 132,408,258

ACCOUNTING POLICIES AND OTHER NOTES TO THE ACCOUNTS 20notes referred to above form an integral part of the balance sheet.

As per our report of even date. For and on Behalf of Regional Council

For Mittal & Mittal & AssociatesChartered Accountants FRN : 014511N

sd/-K. C. Kaushik Regional Director

sd/-Cs Gurvinder singh sarinChairman

sd/-Cs suresh pandeyVice Chairman

sd/-CA mukesh mittal(Partner)Membership No. 092534

Place: New Delhi Date : 31st May, 2019

sd/-Cs Vimal Kumar GuptaSecretary

sd/-Cs susshil DagaTreasurer











niRC of the iCsiinCome & eXpenDituRe ACCount

foR the YeAR enDeD 31st mARCh 2019

(Amount in Rs. ) pARtiCulARs note no. for the year ended

31st march 2019 31st march 2018 inCome Income from Activities 14 23,869,587 23,284,471 Interest on Investments 6,248,435 6,044,141 Other Income 15 460,782 1,558,777

totAl inCome 30,578,804 30,887,389 eXpenDituRe Employee Benefit Expense 16 436,970 484,435 Oral Education Expense 1,799,222 1,692,020 Travelling and Conveyance Expense 17 72,038 85,604 Programmes / Seminars Expense 18 11,691,492 13,835,113 Career Awareness and Promotion Expense 24,819 11,927 Depreciation & Amortization 1,256,698 1,416,706 Other Expenses 19 5,909,266 7,190,382

totAl eXpenDituRe 21,190,505 24,716,187 Surplus before extraordinary & exceptional items

9,388,299 6,171,202

Add / Less : Extra Ordinary Items - - Add / Less : Exceptional Items - - Surplus on Disposal of Assets - - Loss on sale /Disposal /write-off of Assets - - Prior period expenses (net) - - Surplus after extra ordinary & exceptional items 9,388,299 6,171,202 Appropriation to Funds / Reserves : - -

totAl AppRopRiAtions - - balance transferred to General Reserve 9,388,299 6,171,202

totAl 9,388,299 6,171,202 ACCOUNTING POLICIES AND OTHER NOTES TO THE ACCOUNTS

20

notes referred to above form an integral part of the income & expenditure A/c.


niRC of the iCsi CAsh floW stAtement foR the YeAR enDeD 31st mARCh 2019

(Amount in Rs.)2018-19 2017-18

Cash flow from operating Activity Net Surplus after Prior period, Extra ordinary and Exceptional items as per I & E Account

9,388,299 6,171,202

Add : Depreciation on Fixed Assets 1,256,698 1,416,707 Cash flow from operation after adjustment for non cash expenses

10,644,997 7,587,909

Less: : Income from Investment (6,248,435) (6,044,141)(6,248,435) - (6,044,141)

operating surplus before Working Capital and funds Changes

4,396,562 1,543,768

increase /(Decrease) in Current Assets and Current liabilities (Increase)/Decrease in Inventory 39,612 (21,692)(Increase)/Decrease in Short Term Loans & Advances 488,532 (3,785,475)(Increase)/Decrease in Other Current Assets 1,224,857 -(Increase)/Decrease/Sale of Bonds/FDRs (Current Assets) 2,082,587 4,251,424Increase/(Decrease) in Current Liabilities (3,462,209) 1,819,705Increase/(Decrease) in Other Current Liabilities (6,163,679) -Increase/(Decrease) in Short Term Provisions 685,340 -

(5,104,960) 2,263,962 net cash generated from operating activity. (708,398) 3,807,730 Cash flow from investing Activity

Income from Investments 6,248,435 6,044,141(Increase)/Decrease/Sale of Bonds/FDRs (Non-Current Assets) (14,930,578) 6,175,745Payment to Chapter For Building/Faridabad/Bhilwara/Gurgaon/Udaipur

(750,185) (5,043,432)

Purchase of Fixed Assets (159,927) (9,592,255) (1,328,244) 5,848,210 net Cash used in investing Activity (9,592,255) 5,848,210 Cash flow from financing Activity

Increase in General Reserve - Refer Note 1 of Balance Sheet (308,560) (308,560) (399,042) (399,042) net Cash Generated from financing Activities (308,560) (399,042)

net Cash flow for the Year ended as on 31st march (A) (10,609,213) 9,256,898 Cash and cash equivalent at the beginning of the year (b) 12,003,688 2,746,790 Cash and cash equivalent at the end of the year (A) + (b) 1,394,475 12,003,688

note: the above cash flow statement has been derived using the indirect method prescribed in As 3.











note - 1 ReseRVes & suRplus

(Amount in Rs. ) pARtiCulARs As at


31st march 2018 (1) GeneRAl ReseRVe As per last Balance Sheet 95,455,355 89,683,195 Add : (i) Donations - - (ii) Transfer from any Specific /Other Reserve - - (iii) Additions during the year (mention specific source) - - less : (i) Transfer to Specific / Other Reserves - - (ii) Utilisation (mention specific purpose/nature) - - (iii) Amount Transferred to Company Secretaries Benevolent Fund -308,560 -399,042 SURPLUS (Excess of Income over Expenditure transferred from I&E A/c)

9,388,299 6,171,202

sub-total (1) : 104,535,094 95,455,355 (2) otheR thAn GeneRAl ReseRVes, if AnY (2A) builDinG ReseRVe As per last Balance Sheet 22,469,247 22,469,247 Add : Interest - - Add : Donations - - Add : Transfer from Reserves - - Add : Transfer from I&E Account - - Less : Utilisation / transfer (mention specific purpose/nature) - -

sub-total (2A) : 22,469,247 22,469,247 (2b) libRARY ReseRVe As per last Balance Sheet - - Add : Interest - - Add : Donations - - Add : Transfer from Reserves - - Less : Utilisation / transfer (mention specific purpose/nature) - -

sub-total (2b) : - - (2C) infRAstRuCtuRe ReseRVe As per last Balance Sheet - - Add : Interest - - Add : Donations - - Add : Transfer from Reserves - - Add : Transfer from I&E Account - - Less : Utilisation / transfer (mention specific purpose/nature) - -

sub-total (2C) : - - (2D) otheR ReseRVe As per last Balance Sheet 52,945 52,945 Add : Interest - -


(Amount in Rs. ) pARtiCulARs As at


31st march 2018 Add : Transfer from Reserves - - Add : Transfer from I&E Account - - Less : Utilisation / transfer (mention specific purpose/nature) - -

sub-total (2D) : 52,945 52,945 totAl (2) : 22,522,192 22,522,192

(3) ContRibution to /fRom toWARDs lAnD & blDG / otheR Assets Add : Contribution (liabilities) - - less : Contribution (Assets) - -

totAl (3) : - - total : (1)+(2) +(3) : 127,057,286 117,977,547

note - 2 eARmARKeD funD

(Amount in Rs. ) pARtiCulARs infRAstRuCtuRe

funDenDoWment foR

pRize AWARD funDtotAl Amount

2018-19 2017-18 2018-19 2017-18 2018-19 2017-18 As per last Balance Sheet - - - - - - Add: Contribution during the year - - - - - - Add: Transfer from Gen Reserve - - - - - - Add: Receipts during the year - - - - - - Add: Interest allocation - - - - - -

Sub-Total : - - - - - - Less: Transfer to GR on utilisation - - - - - - Less: Utilised during the year - - - - - - balance as at the close of the year

- - - - - -

note - 3 sunDRY CReDitoRs

(Amount in Rs.) pARtiCulARs As at


31st march 2018 Sundry Creditors - Others - 33,954 - Inter Unit Balance - 94,198 -Payable for services from Professionals/ Faculty 180,337 543,011 - Payable for services from vendors 601,212 2,136,706 - Investor EPF payable to MCA 274,597 1,710,486 total : 1,056,146 4,518,355


note - 4 otheR CuRRent liAbilities



31st march 2018 other Current liabilities (i) Fee received in advance from Members 2,015,526 2,808,737 (ii) Fee received in advance from Students 836,569 5,538,850 (iii) Security Deposits 563,661 1,107,586 (iv) Other Current Liabilities - TDS (Yearwise) 49,517 194,960 - GST 18,425 - -Others 7,877 5,121 total : 3,491,575 9,655,254

note - 5 shoRt teRm pRoVisions



31st march 2018 (i) Expense Payable a) Expenses Payable 942,442 257,102 total : 942,442 257,102

note - 6 fiXeD Assets

Rate of De-preciation

Gross block Depreciation / impairment net blockCost as on

1.4.2018Additions Adjust-

ment/transfer/

sale

total cost as on

31.3.2019

total as on

1.4.2018

for the Year

Adjust-ment/

transfer/sale

total as on

31.3.2019

as on 31.3.2019

as on 31.3.2018

tangible Assets Furniture & Fixtures 10% 10,165,219 63,780 - 10,228,999 3,453,623 673,360 - 4,126,983 6,102,016 6,711,596 Computer Peripherals 40% 1,624,946 - - 1,624,946 1,476,363 59,433 - 1,535,796 89,150 148,583 Cooling Equipment 15% 2,275,784 - - 2,275,784 1,112,391 174,509 - 1,286,900 988,884 1,163,393 Electrical Equipment 15% 2,283,183 10,598 - 2,293,781 1,432,156 128,419 - 1,560,575 733,206 851,027 " Office Machines and Communication Equipment"

15% 686,157 - - 686,157 389,193 44,545 - 433,738 252,419 296,964

Other Equipment 15% 874,684 57,981 - 932,665 39,628 127,706 - 167,334 765,331 835,056 Library Books 100% 817,668 27,568 - 845,236 817,668 27,568 - 845,236 - - Vehicles 20% - - - - - - - - - Current Year Total (i) 18,727,641 159,927 - 18,887,568 8,721,022 1,235,540 - 9,956,562 8,931,006 10,006,619

previous Year total (i) 17,478,610 1,249,031 - 18,727,641 7,341,387 1,379,635 - 8,721,022 10,006,619 10,137,223 intangible Assetssoftware 1/3 111,213 - - 111,213 47,738 21,158 - 68,896 42,317 63,475

Current Year Total (ii) 111,213 - - 111,213 47,738 21,158 - 68,896 42,317 63,475 Previous Year Total (ii) 32,000 79,213 - 111,213 10,667 37,071 - 47,738 63,475 21,333 Current Year Total (i+ii) 18,838,854 159,927 - 18,998,781 8,768,760 1,256,698 - 10,025,458 8,973,323 10,070,094 Previous Year Total (i+ii) 17,510,610 1,328,244 - 18,838,854 7,352,054 1,416,706 - 8,768,760 10,070,094 -


note - 7 non CuRRent inVestments

pARtiCulARs As on 01.04.2018

ADDitions Deletions /tRAnsfeR

As on31.03.2019

i inVestmnet in GoVt. seCuRities Govt. of india saving bonds -01.12.2022 7,705,000 7,705,000 08.11.2022 2,312,000 2,312,000 12.09.2022 5,712,000 5,712,000 12.11.2022 7,511,000 7,511,000 18.06.2022 1,850,000 1,850,000 30.08.2022 5,000,000 5,000,000

sub-totAl(i) : 30,090,000 - - 30,090,000 ii inVestment in DebentuRes / bonDs sub-totAl(ii) : - - - - iii inVestmnet in mutuAl funDs sub-totAl(iii) : - - - - iV otheR non-CuRRent inVestments(A) Fixed Deposits in Banks

Fixed Deposit in Canara Bank-East Patel Nagar05.09.2018 9,019,062 9,019,062 - 05.09.2018 9,663,281 9,663,281 - Fixed Deposits in Canara Bank - Lodhi Road

-

26.04.2019 1,162,512 1,162,512 - 26.04.2019 1,162,512 1,162,512 - 26.04.2019 1,162,512 1,162,512 - 13.03.2020 9,999,999 9,999,999 13.03.2020 9,919,759 9,919,759 19.04.2020 628,315 628,315 18.05.2020 7,514,657 7,514,657 31.05.2020 2,094,348 2,094,348 22.06.2020 4,159,252 4,159,252 26.06.2020 2,784,127 2,784,127

sub-totAl (iV-A) : 22,169,879 37,100,457 22,169,879 37,100,457 (b) Fixed Deposits with institutions other than

Banks sub-totAl (iV-b) : - - - - (C) OTHERS (Specify nature) SUB-TOTAL (IV-C) : - - - - totAl iV : 22,169,879 37,100,457 22,169,879 37,100,457 totAl (i+ii+iii+iV) : 52,259,879 37,100,457 22,169,879 67,190,457


note - 8 CuRRent inVestments

pARtiCulARs As on 01.04.2018

ADDitions Deletions As on31.03.2019

i inVestmnet in GoVt. seCuRities SUB-TOTAL(I) : - - - -

ii inVestment in DebentuRes / bonDs SUB-TOTAL(II) : - - - -

iii inVestmnet in mutuAl funDs SUB-TOTAL(III) : - - - -

iV otheR CuRRent inVestments(A) Fixed Deposits in Banks

15.12.2018 3,789,128 3,789,128 - 19.12.2018 2,536,376 2,536,376 - 10.11.2018 6,836,649 6,836,649 - 23.11.2018 1,907,970 1,907,970 - 11.07.2019 1,000,000 1,000,000 11.07.2019 1,000,000 1,000,000 12.09.2019 1,000,000 1,000,000 12.09.2019 1,000,000 1,000,000 12.09.2019 1,000,000 1,000,000 28.06.2019 1,000,000 1,000,000 28.06.2019 1,000,000 1,000,000 26.09.2019 2,500,000 2,500,000 26.04.2019 1,162,512 1,162,512 26.04.2019 1,162,512 1,162,512 26.04.2019 1,162,512 1,162,512

SUB-TOTAL (IV-A) : 15,070,123 12,987,536 15,070,123 12,987,536 (b) Fixed Deposits with institutions other

than Banks -

SUB-TOTAL (IV-B) : - - - - (C) OTHERS (Specify nature)

SUB-TOTAL (IV-C) : - - - - TOTAL IV : 15,070,123 12,987,536 15,070,123 12,987,536 TOTAL (I+II+III+IV) : 15,070,123 12,987,536 15,070,123 12,987,536

note - 9 inVentoRies

pARtiCulARs As at 31st march 2019

As at 31st march 2018

Consumables, Stores & Others (RO / Chap own) - 39,612 total : - 39,612


note - 10 sunDRY DebtoRs



31st march 2018 sundry Debtors outstanding for more than six months Secured, considered good - - Unsecured, considered good - - Doubtful - - Less : Provision for Bad and Doubtful advance - - SUB-TOTAL (a) - - others sundry Debtors - Secured , considered good - - Unsecured , considered good - - Doubtful - - Less : Provision for Bad and Doubtful advance - - SUB-TOTAL (b) - - total : - -

note - 11 CAsh AnD CAsh eQuiVAlents



31st march 2018 Balances with Bank (Including linked term deposits) 1,359,385 11,985,783 Cash in hand 35,090 17,905 total : 1,394,475 12,003,688

note - 12 shoRt teRm loAns AnD ADVAnCes



31st march 2018 SHORT TERM LOANS AND ADVANCES Secured, considered good - GST Credit - 488,532 total : - 488,532

note - 13 otheR CuRRent Assets



31st march 2018otheR CuRRent Assets Accrued Interest on Current Investments 2,711,973 2,257,817 Accrued Interest on Non-Current Investments 5,480,131 3,880,077 Security Deposit 185,000 - Internal- HQ 1,995,398 5,340,225 Internal-Chapters 45,500 164,740

total : 10,418,002 11,642,859


note - 14 inCome fRom ACtiVities

(Amount in Rs.) pARtiCulARs for the year ended

31st march 2019 31st march 2018 income from students Oral Education Fee 5,930,726 5,153,000 Other Fees : Library Annual Subscription 282,500 423,375 Library Fine - 6,213,226 - 5,576,375 programmes / seminars From Members -Corporate Membership Fees/ Sponsorship 7,590,996 8,992,757 -Programme Fee receipts during the year 1,240,865 8,831,861 1,600,789 10,593,546 From Students - Students Training Programmes 8,824,500 7,114,550 - Others - 8,824,500 - 7,114,550 total : 23,869,587 23,284,471

note - 15 otheR inCome


31st march 2019 31st march 2018 Investor Awarness Programmes 285,403 715,592 Provision no longer required, written-back 81,799 - Grants received from Headquarters - 771,140 Miscellaneous 92,880 14,786 Discount on sale of publication 700 7,259 Best Regional Council - 50,000 total : 460,782 1,558,777

note - 16 emploYee benefit eXpense


31st march 2019 31st march 2018 staff Welfare a) Staff welfare Expenses 436,970 436,970 484,435 484,435

436,970 484,435


note - 17 tRAVellinG AnD ConVeYAnCe eXpense


31st march 2019 31st march 2018 Conveyance Expenses 72,038 85,604 totAl 72,038 85,604

note - 18 pRoGRAmmes / seminAR eXpenses


31st march 2019 31st march 2018 Programmes / Seminars of Members a) Seminars 7,859,770 6,955,145 b) Other Programmes 411,009 8,270,779 1,664,624 8,619,769

Programmes / Seminars of Students a) Students Training Programmes 3,275,503 5,049,716 b) Other Programmes 145,210 3,420,713 165,628 5,215,344 totAl 11,691,492 13,835,113

note - 19 otheR eXpenses

(Amount in Rs.)pARtiCulARs for the year ended

31st march 2019 31st march 2018 Stationery 209,945 273,093 Newsletter 127,639 706,429 Electricity and Water 2,014,563 2,633,735 Communication Expense - Telephone / Fax 143,239 153,676 - Courier / Postage 8,268 15,242 Repairs and Maintenance - Buildings 239,834 110,659 - Computer 6,865 - - Other Assets 99,681 - Office Expenses 2,085,722 1,923,691 Newspapers and Periodicals 53,942 25,101 Meeting expenses 456,440 387,902 Bank Charges 10,925 7,277 Auditors Remuneration - Statutory Audit Fees 70,800 60,000 - Statutory Auditor Other Services - 7,985 - Internal Audit Fees 96,000 96,000 - Compliance Audit Fees & ISO Audit Fees - 74,000 Investor Awarness Programmes 285,403 715,592 totAl 5,909,266 7,190,382


note - 20

ACCountinG poliCies AnD notes to ACCounts

(A) ACCOUNTING POLICIES

1. basis of preparation of financial statements

The Financial Statements are drawn up on historical cost basis and have been prepared in accordance with applicable Accounting Standards issued by the Institute of Chartered Accountants of India and are on accrual basis unless otherwise stated.

2. uses of estimates

The preparation of Financial Statements requires some estimates which affect the reported amounts of assets and liabilities on the date of Financial Statements and the reported amount of revenues and expenses during the year. Difference between the actual result and estimates are recognized in the period in which results are known/ materialized.

3. Revenue Recognitiona. The Entrance Fee is collected at the time of admission of a person as a Member and is directly

credited to “Capital Reserve”. b. Fees received from Members are accounted for on cash basis. However, fees received in advance

are carried over as a liability.c. Fee from students is recognized on cash basis.d. Examination fee is recognized on the basis of conduct of examination.e. Revenue from sale of publications is recognized at the time of preparing the sale bill, ie. when the

property in goods as well as the significant risks and rewards of the property get transferred to buyer.

f. Income from Investmentsi) Dividend on investments is recognized on receipt basis.ii) Income on interest-bearing securities and fixed deposits is recognized on a time proportion

basis taking into account the amount outstanding and the rates applicable.

g. Receipt of money for specific sponsored Programmes is recognised on a systematic basis in the Income & Expenditure Account over the periods necessary to match them with the related costs which they are intended to compensate. Unspent balance of such receipts, if any, is carried to next year.

4. investmentsa. Long term Investments are carried at cost and diminution in value, other than temporary, is

provided for.b. Current investments are carried at lower of cost or fair value.


5. fixed Assets / Depreciation and Amortization

a. Fixed Assets excluding Land are stated at historical cost less depreciation. b. Freehold land is stated at cost. Leasehold land is stated at the amount of premium paid for

acquiring the lease rights. The premium paid on leasehold land is amortized over the period of lease.

c. Depreciation is provided on the Written Down Value method at the following rates as approved by the Council, based on the useful life of the respective assets :

Item %Buildings 5Furniture and Fixtures 10Lifts/Air Conditioners/Other Equipments 15Vehicles 20Computers / Mobile Phones 40

d. Depreciation on additions to Fixed assets is provided on pro-rata basis. No depreciation is charged in the year of sale.

e. Fixed Assets costing ` 5,000 or less are fully depreciated.f. Library books are depreciated at the rate of 100% in the year of purchase.g. Intangible Assets (Software) are amortized equally over a period of three years.

6. impairment of Assets

The carrying amounts of assets are reviewed at each Balance Sheet date if there is an indication of impairment based on internal / external factors. The impairment loss is recognized wherever the carrying amount of an asset exceeds its recoverable amount. The recoverable amount is higher of asset’s net selling price or value in use. In assessing the value in use, the estimated future cash flows are discounted to their present value at the weighted cost of capital.

7. inventories

Inventories of Consumables, Publications, Study Materials, etc. are valued at lower of cost or net realizable value. The cost is determined on FIFO basis.

8. foreign Currency transactions

a. Foreign currency transactions are recorded on initial recognition in the reporting currency by applying to the foreign currency amount at the exchange rate prevailing as on the date of transactions.

b. All incomes and expenses are translated at average rate. All monetary assets / liabilities are translated at the year end rates whereas non-monetary assets are carried at the rate on the date of transaction.

c. All incomes or expenses on account of exchange rate difference are recognized in the Income and Expenditure Account.


9. employee benefits (not applicable for Ro / Chapter)

The salary and other employee’s related expenses/benefits are borne and booked at the HQ-ICSI

10. provisions

A provision is recognized when an enterprise has a present obligation as a result of past events; it is probable that an outflow of resources will be required to settle the obligation, in respect of which a reliable estimate can be made. Provisions are not discounted to its present value and are determined based on best estimate required to settle the obligations at the Balance Sheet date. These are reviewed at each Balance Sheet date and adjusted to reflect the current best estimates.

11. old outstanding amounts under the heads of ‘earnest money Deposits, Retention money, security Deposits and stale Cheques’

Earnest Money Deposits, Retention Money, Security Deposits and Stale Cheques remaining unpaid for more than three years after the due date for payment, wherever applicable, is treated as income.

(b) notes to ACCounts (notes must be GiVen eVen if the Amount / pARtiCulARs ARe nil)

1. The balances of HQ, various chapters and other creditors are subject to confirmation.

2. As per Oral Coaching Guidelines of the Institute and requirement under AS-18, financial transactions occurred during the year between the Regional Office and employees or office bearers of Managing Committee/Regional Council or their relatives is to be disclosed. Accordingly there was no payment made during the year under report.

3. The performa for presentation of the Financial Statements have been prescribed by H.O. As such the previous year figures have been regrouped/rearrange wherever necessary. Thus the same are not comparable to the earlier published results.

4. GST Input is availed as per the HQ guidelines and applicable provisions of GST Acts.

5. TDS return for Q4 of FY 2018-19 is yet to be filed as the due of filing is May 31, 2019.











The Northern India Regional Council (NIRC) is one of the Four Regional Councils of the Institute of Company Secretaries of India (ICSI). It assumes importance as it is based in the capital of the Country where ICSI also has its Headquarters. The NIRC-ICSI represents the States of Himachal Pradesh, Jammu & Kashmir, Haryana, Punjab, Rajasthan, Uttrakhand, Uttar Pradesh, National Capital Territory of Delhi and Union Territory of Chandigarh. Having 31 Chapters situated at Agra, Ajmer, Allahabad, Alwar, Amritsar, Bareilly, Bhilwara, Bikaner, Chandigarh, Dehradun, Faridabad, Ghaziabad, Gorakhpur, Gurgaon, Jaipur, Jalandhar, Jammu, Jodhpur, Kanpur, Karnal-Panipat, Kota, Lucknow, Ludhiana, Meerut, Modinagar, Noida, Patiala, Shimla, Sikar (Management Committee under constitution), Sonepat, Srinagar, Udaipur, Varanasi and Yamuna Nagar having more than 18,000 members on the rolls and 90,000 students spread over different parts of the Region. The functions of NIRC-ICSI are as under:

• Arranges and provides oral coaching and training enabling students to qualify as Company Secretaries.

• Has the facility of library and reading rooms for the use of the members and registered students.

• Recommends books useful for candidates intending to appear for Foundation, Executive and Professional Examinations of the Institute.

• Awards prizes to students securing the highest marks in the Region in various Examinations conducted by the Institute.

• Explores training facilities for the students and assists in securing suitable employment for qualified Company Secretaries.

• Makes representations to the ICSI in connection with matters of professional interest and offers suggestions for raising the standard and status of the profession.

• Organizes Study Sessions for the benefit of registered students and members within the Region.

• Brings out Monthly Newsletter and Publications for the benefit of Members.

• Provides facilities for contact amongst members and registered students of the Institute in the Northern Region by meetings, arrangements of talks and lectures and for acquiring and dissemination of useful information in connection with the profession of Company Secretaries.

• Organises workshop studies, symposia, talks, seminars and other meetings on topics of current interest to Company Secretaries.

• Convening Regional Conference/State Conferences for members & Practicing Company Secretaries annually in different parts of the Region.

• Recommends formation of Chapters in areas of importance in the Region where sufficient members and registered students are available and evince interest in such formation.

• Carries out research work on topics suggested by the ICSI.

Glimpses

national best regional council (2004, 2007, 2008, …...two placement drives for fresher cs members...

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