41ST ANNUAL GENERAL MEETING

OF THE MEMBERS OF ICSI-WIRC

ANNUAL REPORT

2016-17
Day & Date

Monday, 31st July 2017

Time

05.00 pm
Venue
ICSI-WIRC Premises, 56 & 57 Jolly Maker Chambers No.II,
Fifth Floor, Nariman Point, Mumbai - 400021

ICSI-WIRC Premises, 13, 56 & 57 Jolly Maker Chambers No.II, First & Fifth Floors,
Nariman Point, Mumbai – 400021
Phones: 61307900 / 61307901 / 61307902
E-mail: wiro@icsi.edu
 INDEX
PAGE
CONTENTS
NO(S)
Members of ICSI-Western India Regional Council 1

Notice of Annual General Meeting 2

Report of the Western India Regional Council 3

Programs / Meetings organized by WIRC during

10
2016-2017

Programme Membership Scheme 13

Awards / Prizes winners from Western Region 16

Auditor’s Report 20

Balance Sheet 22

Income and Expenditure Statement 23

Note(s) to Accounts 24

About WIRC 40
 WESTERN INDIA REGIONAL COUNCIL

CS Prakash Pandya CS Shilpa Dixit (Ms.) CS Praveen Soni CS Ashish Karodia

CS Swati Bhatt (Ms.) CS Devendra Deshpande CS Amit Kumar Jain CS Kamlesh Joshi

Shri Girish Joshi CS Chetan Patel CS Hitesh Kothari CS Rishikesh Vyas

CS Makarand M. Lele CS Atul H Mehta CS Ashish Doshi CS Ashish Garg CS Mahavir Lunawat

K.C. Kaushik
Regional Director

Statutory Auditor : M/s. Sarda Soni

Internal Auditor : M/s. T.R. Chadha & Co.

Bankers : ICICI Bank, State Bank of India, Syndicate Bank

Head Office : `ICSI House’, 22, Institutional Area, Lodi Road, New Delhi 110 003
Phones: 45341000 / 41504444 (STD Code 011)
Fax: 011-24626727 E-mail: info@icsi.edu Website: www.icsi.edu

WIRC Office : 13, 56 & 57 Jolly Maker Chambers No.2, First & Fifth Floors,
Nariman Point, Mumbai – 400021
Phones: 61307900 / 61307901 / 61307902 E-mail: wiro@icsi.edu

1
 NOTICE OF ANNUAL GENERAL MEETING

Notice is hereby given that the 41st Annual General Meeting of the Western India Regional Council (WIRC) of the
Institute of Company Secretaries of India (ICSI) will be held on Monday, 31st July 2017 at 05.00 pm at ICSI-WIRC
premises, 5th Floor, 56 & 57 Jolly Maker Chambers No.II, Nariman Point, Mumbai 400021, to transact the
following business:

1. To receive, consider and adopt the Audited Balance Sheet as at 31st March 2017, the Income & Expenditure
account for the year ended on that date, Report of the Regional Council and Auditors’ thereon.

2. To appoint M/s. P.R. Agarwal & Awasthi, Chartered Accountants, Mumbai as Statutory Auditors for the year
2017-18 and fix their remuneration.

3. To transact such other business as may be brought before the meeting with the permission of the Chair.

By Order of the Western India Regional Council of

The Institute of Company Secretaries of India

Sd/-
CS Prakash Pandya
Chairman
Place: Mumbai

Dated: 14th July 2017

Note(s):

1. The members are requested to send their queries on financial accounts and / or functioning of WIRC through
email at kailash.kaushik@icsi.edu or by any other mode, atleast 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), email IDs, contact details and other
particulars at wiro@icsi.edu for enabling WIRC 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, WIRC is sending
Annual Report for the year 2016-17 through e-mail. Members may also view/download Annual Report from
the child portal of ICSI-WIRC (www.icsi.edu/wiro). Hard copies of the Annual Report will be available at the
venue of the AGM i.e. ICSI-WIRC premises, 5th Floor, 56 & 57Jolly Maker Chambers No.II, Nariman Point,
Mumbai 400021 on Monday, 31st July 2017 for inspection.

4. Members interested to receive the printed version of Annual Report should send their request by email
atleast 4 days prior to the date of the AGM by email at wiro@icsi.edu. The printed version of the Annual
Report shall be dispatched on receipt of such request.

2
 REPORT OF
THE WESTERN INDIA REGIONAL COUNCIL
OF THE INSTITUTE OF COMPANY SECRETARIES OF INDIA

Dear Members,

The Western India Regional Council of The Institute of Company Secretaries of India (ICSI-WIRC/
Regional Council) is pleased to present its 41st Annual Report and Audited Annual Accounts for
the year ended 31st March 2017.

Financial Results :

For the year ended

Particulars
31st March, 2017 31st March, 2016
(in Rs.) (in Rs.)
Income 1,72,46,926 2,30,28,705

Expenditure 1,65,77,709 2,12,38,215

Surplus (after Depreciation) 6,69,217 17,90,491

Less: Prior period exepnses 4,28,050 0
Net Surplus 2,41,167 17,90,491

The audited annual financial statements forms part of this report.

Status of Members :

The total number of members in the Western Region (including defaulters) as on 31st March, 2017
stood increased to 16,989 as against 14,865 as on 31st March, 2016.

Status of Students Registration :

The number of registered students in the Western Region as on 31st March, 2017 was 1,10,739.

3
 Observations of the Regional Council to Auditor’s adverse remarks:

Regional Council while approving the accounts as recommended by the Regional Finance Committee
and Regional Executive Committee of ICSI-WIRC in its meetings dated 7th July 2017 and 14th July
2017 noted various serious adverse remarks and observations of Statutory Auditors and also the
opinion of Auditor that the said accounts are giving true & fair view.

The ICSI-WIRC is facing acute shortage of manpower in general and non–availability of any qualified
accounting staff since October 2016 in particular, despite constant and persistent efforts by way of
follow-up with ICSI-HQ and hiring services on contractual basis.

Further, Internal Auditor M/s. R. Jaitlia & Co., Chartered Accountants, Mumbai resigned vide email
dated 29th December 2016 with effect from 1st July 2016. Thereupon, M/s M/s. T.R. Chadha & Co.,
Chartered Accountants were appointed as the new Internal Auditor with effect from 2nd May 2017. In
view of above, Internal Auditor could not submit their report in time to be made available to the
Regional Council and the Statutory Auditors. Further, it may please be noted that Internal Auditor be
communicated that Internal Audit Report will be made available as soon as possible.

ICSI-WIRC in consultation with ICSI-H.O., decided to go ahead in accepting Statutory Auditor’s report,
pending Internal Auditor’s report, considering strict compliance to timeline of approving financial
statements and placing before the members at the Annual General Meeting for adoption.

Other comments of Statutory Auditors are self-explanatory and suitable corrective actions are being
taken.

Activities and New Initiatives:

WIRC is one of the four Regional Councils which organizes Professional Development and continuing
education programs for the members, Oral Coaching Classes and Training & Development programs
for the students.

In keeping with the tradition of the ICSI-WIRC for the acquisition and dissemination of useful
information and updating of professional knowledge on subjects of interest to the profession of
Company Secretaries, number of meetings, talks, lectures, seminars, study circle meetings,
Knowledge Centres and other professional development programmes were organized by ICSI-WIRC
during the year under review.

Some of the initiatives and achievements for 2016-2017 are highlighted, in the Annexure A to this
report.

The Chapters of ICSI-WIRC also organized such programmes.

a. ICSI-WIRO Library Facility

Library facility is available at the WIRC office at Mumbai.
Library facilities are also available at various chapters of ICSI-WIRC.

4
b. Profession recognition, brand building and awareness programs
ICSI-WIRC took various brand building and awareness initiatives such as:
• Brand building measures through branded program folders, students’ folders, media
coverage, etc.
• Career Awareness programs organized in remote locations.
• Investor Awareness Programme organized under the aegis of MCA.
• Study Centres opened at various Colleges and Universities of the Region.

c. Campus Placement

Campus Placement was undertaken to provide good scope for students and members to prosper
in Career and for Companies to attract suitable talents.

ICSI-WIRC organized a Campus Drive on 18th & 19th May 2017 under the aegis of ICSI, H.O.

d. Special Programs
 In Mumbai about 4 nos. of Investor awareness programs were organized.
 Annual Regional Conference 2016 was organized by ICSI-WIRC on 25 & 26 June, 2016 at
Hotel Sayaji, Indore. About 195 participants attended the Conference.
e. Special Drive for CSBF

WIRC for every member’s benevolence undertook a lot of awareness campaign for CSBF,
comprising of distributing brochure, display of special CSBF banner / standees, telephonic calls
and emailing brochure. A unique scheme of contributing Re.1 per day i.e. Rs.365/- p.a. was
launched by WIRC as an appeal to the members of the Region.

We appeal you to contribute to CSBF whether you are CSBF member or not by remitting payment
at the link below:
https://paytm.com/education?op=The%20Institute%20of%20Company%20Secrataries%20of%20India%20WIRC&type
=registration

f. IT initiatives
• Web-portal revamped to be the best-in-class with various value-added features.
• Online registration and payment of fees for programs conducted by the ICSI-WIRC.
• MSOPs and Student registration made online.

Programme Membership Scheme of ICSI-WIRC

Programme Membership Scheme of ICSI-WIRC (PMS) continued with the feature of validity from 1st
April 2016 to 31st March 2017 for the benefit of members, corporates and students to enable them to
swiftly register for the programme and also to take the benefit of concessional fees.

There are total 22 PMS members comprising of Individual – 11 and Corporate – 11.

Details of the PMS is given at Annexure B.

5
Chapters:

At present, there are Seventeen Chapters serving the members and students of the Institute in the
Western Region. These Chapters are located at Ahmedabad, Aurangabad, Bhayander, Bhopal,
Dombivli, Goa, Indore, Kolhapur, Nagpur, Nasik, Navi Mumbai, Pune, Raipur, Rajkot, Surat, Thane
and Vadodara. The details of the Chapters inclusive of contact address and office bearers are
available on the website of ICSI (www.icsi.edu). The Dombivli Chapter is now under the control and
supervision of ICSI-WIRC. However, the Managing Committee is constituted for the Dombivli Chapter
and it is expected to start functioning soon.

Chapters also regularly conduct programmes, seminars, talks, study circle meetings for the benefit of
the members and students.

Student Services:

(a) Class Room Teaching Centres:

WIRC continues to provide the facilities of Oral Teaching Centers in Mumbai at Nariman Point:

Besides above, Coaching Centers are conducted by other Chapters across Western Region.

(b) Awards / Prizes:

Students from the Western Region have won number of awards/prizes for their meritorious
performance in the Institute’s examinations held in June 2016. The list of students is given in
‘Annexure C’.

(c) Management Skills Orientation Programme, Student Induction Programme and Executive
Development Programme:

ICSI-WIRC conducted 12 Management Skills Orientation Programme (MSOP) during 2016-2017

under review to facilitate the Final passed students in fulfilling their training requirements and
getting their membership from the institute. Ahmedabad, Thane, Indore and Pune chapters also
conducted MSOPs during the year. Moreover, ICSI-WIRC conducted Six (06) Executive
Development Program (EDP), One (01) Professional Development Program (PDP), Seven
(07) 2 Days Induction Program, Seven (07) 3 Days E-Governance Program and Seven (07) 5
days Skill Development Academic Program for Students as per CS Regulations. Chapters also
conducted these programmes

(d) Career Awareness :

During 2016-2017, about 15 Career Awareness programmes were organized in various colleges,
schools and other institutions by WIRO and Chapters also organized these programmes. ICSI-
WIRO participated in 2 Career Fairs / Exhibitions and its Chapters also participated in the Career
fairs in order to popularize Company Secretaries profession as a Career choice.

6
 Group Insurance Scheme:

ICSI-WIRC with a welfare motive towards its members in the western region, like yesteryears has
carried forward group insurance scheme. The policy has been taken from LIC. Salient features of this
scheme are as under.
(a) Rs.10 lakhs term cover per individual member.
(b) The cover is global.
(c) Premium payable Rs.2,800/- per annum plus GST.
(d) A member hailing from Western Region is eligible to become member of the scheme.
(e) No health check but only a simple declaration of good health at the time of joining.
(f) Age limit – 60 years.
.
Currently there are 210 members, who have enrolled in the scheme. Members are earnestly
requested to avail of this scheme and get benefitted out of this.

The policy can be availed by members from 4th October 2017 till 30th September 2018 by
remitting payment by tendering cheque in favour of “WIRC of ICSI” payable at Mumbai.

7
 REGIONAL COUNCIL AND EXECUTIVE COMMITTEE MEETINGS:

The Regional Council had 4 (four) Meetings during the year 2016-2017 on 29.05.2016, 15.10.2016,
27.12.2016 and 28.01.2017. During the year, 11 (eleven) Executive Committee Meetings were held on
23.04.2016, 22.05.2016, 10.06.2016, 05.08.2016, 14.08.2016, 25.09.2016, 21.01.2017, 09.02.2017,
26.02.2017, 19.03.2017 and 26.03.2017. The attendance of Regional Council Members in the above
mentioned meetings of Regional Council / Executive Committee, 2016-17 is as under:

RECORD OF ATTENDANCE OF REGIONAL COUNCIL MEMEBRS IN VARIOUS

MEETINGS OF REGIONAL COUNCIL / EXECUTIVE COMMITTEE 2016-17
Regional Council Meetings
Name attended during the year out of the attended during the year out of the
total 4 (four) Meetings held
2017 2016
CS Prakash Pandya 1 3
CS Shilpa Dixit 1 2
CS Praveen Soni - 3
CS Ashish Karodia 1 3
CS Swati Bhatt 1 2
CS Devendra - 2
Deshpande
CS Amit Kumar Jain 1 3
CS Kamlesh Joshi 1 2
CS Hitesh Kothari 1 3
CS Chetan Patel 1 3
CS Rishikesh Vyas - 2
CS Ashish Doshi 1 2
CS Ashish Garg 1 3
CS Makarand Lele - 3
CS Mahavir Lunawat - 2
CS Atul Mehta - 2
Shri Girish Joshi - 1
Executive Committee Meetings
total 11 (eleven) Meetings held
2017 2016
5 6
4 *
5 *
4 *
* 6
* *
* *
* 6
* 5
* *
* *
* *
* *
* *
* *
* *
* *

*Not a member of Executive Committee

Auditors:

M/s. Sarda Soni Associates, Chartered Accountants, Mumbai, the Statutory Auditors retires at the
forthcoming Annual General Meeting. The Statutory Auditors require to be rotated on completion of
five years as per the Guidance Note 21 of the Guidelines (F&A) of the ICSI. The Regional Council in
its meeting held on 14th July 2017 recommended the appointment of M/s P.R. Agarwal & Awasthi,
Chartered Accountants as the Statutory Auditors of ICSI-WIRC for the year 2017-18 at a
remuneration of Rs.75,000/- + GST + Out of pocket expenses.

The consent of members by way of resolution is sought at the Annual General Meeting.

8
 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, RBI, SEBI, NSE, BSE, Regional Director and Registrars of Companies in West India, CBEC,
VAT, Services Tax Departments, Labour Commissioners, Trade Marks Registry 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 Regional Council during 2016-2017.

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 WIRC, the
office bearers and members of the Managing Committees of the Chapters of WIRC, the faculty
members of the Oral Coaching Classes, PDPs, EDPs, Academic Programs and MSOPs, the
members and students from Western Region who have immensely contributed to the success of
WIRC activities.

The Regional Council also places on record its deep appreciation to the officials and staff of WIRO
at all levels for the contribution made by them for implementing the decisions of the Regional Council.

For and on behalf of the Western India Regional Council

of The Institute of Company Secretaries of India

Sd/-

Place: Mumbai CS Prakash K. Pandya

Chairman
Dated: 14th July 2017

9

LIST OF PROGRAMME ORGANISED BY ICSI-WIRC
Sr.
Name of the Programme
No
WIRC of ICSI Full day Seminar at Gwalior
1 The Central Park Hotel
2 The First Corporate Law Summit
ICSI-WIRC PCS Study Circle Meeting on
3 Practising Areas In Co-operative Societies
Laws
Second Two Days Corporate Laws
4
Conclave
ICSI-WIRC PCS Study Circle Meeting
5 On Practising Areas in Co-operative
Societies Laws
Capital Markets Week - Transcending
6
Horizons - Capital Market Way
7 Annual Regional Conference 2016
Two Days’ Workshop on “Company
8 Secretaries - Capacity Building”
1st Capacity Building Workshop on Critical
9 and Emerging Areas
for Company Secretaries
PCS Study Circle Meeting on Related Party
10
Transactions under Companies Act, 2013
11 Half Day Seminar at Gwalior
12 1st NCLT Clinic
ICSI-WIRC & Nashik Chapter Joint
13
Seminar
10
Annexure A
Date of Programme & Venue
Sunday, April 10, 2016
City Centre, Gwalior – 474001 (M.P.)
Friday & Saturday, 22 & 23 April, 2016
Walchand Hirachand Hall, 4 Floor, Indian
Merchant Chambers, IMC Building, IMC Marg,
Churchgate, Mumbai- 400 020
Tuesday, May 17, 2016
ICSI-WIRC PCS Study Circle Meeting on
Practising Areas In Co-operative Societies Laws
Saturday & Sunday, 21 & 22 May, 2016
Goregaon Sport Club Link Road, Near Toyota
showroom, Malad West, Mumbai, Maharashtra
400064
Wednesday, June 15, 2016
ICSI-WIRC, A/C Auditorium
5th Floor, Jolly Maker Chambers, No. 2,
Nariman Point, Mumbai – 400021
Monday, June 20, 2016
BSE Convention Hall, The BSE Limited, Mumbai
Saturday & Sunday, 25 & 26 June, 2016
Hotel Sayaji, Indore
Friday & Saturday July 22nd & 23rd, 2016
Hotel Ramee Grand, 1221/C, Apte Road, Pune,
411 004, Maharashtra
Sunday, July 24, 2016
Walchand Hirachand Hall, 4 Floor, Indian
Merchant Chambers, IMC Building, IMC Marg,
Churchgate, Mumbai- 400 020
Saturday, July 30, 2016
ICSI-WIRC, A/C Auditorium
5th Floor, Jolly Maker Chambers, No. 2,
Nariman Point, Mumbai – 400021
Thursday, 04 August, 2016
Jain Hostel, Lashkar, Gwalior
Sunday, August 14, 2016
Kamalnayan Bajaj Hall and Art Gallery, 226,
Ground Floor, Bajaj Bhavan, Jamnalal Bajaj
Road, Nariman Point, Mumbai – 400021
Saturday, August 20, 2016
Hotel Meuse Jupiter, Pathardi Phata, Mumbai-
Agra Highway, Nashik 422009
Sr.
Name of the Programme Date of Programme & Venue
No
Tuesday, August 30, 2016
PCS Study Circle Meeting on Practical
ICSI-WIRC, A/C Auditorium
14 Aspects of GST
5th Floor, Jolly Maker Chambers, No. 2,
Nariman Point, Mumbai – 400021
Thursday, September 08, 2016
Half Day Students Program on Practical ICSI-WIRC, A/C Auditorium
15
Aspects of GST 5th Floor, Jolly Maker Chambers, No. 2,
Nariman Point, Mumbai – 400021
Refresher Series on Annual Compliance Saturday, September 24, 2016
16 under Corporate Laws and Intricacies of Jain Subkuchh Food Plaza, Link Road, Near
GST Inorbit Mall, Mindspace, Malad West, Mumbai
Seminar on Entrepreneurship followed by
Friday, October 14, 2016 MACCIA hall
45th Foundation Day Celebration of WIRC
17 Oricon House, 6th Floor, 12, K. Dubhash Marg,
of the ICSI
Near Kala Ghoda, Fort, Mumbai – 400001
Study Circle Meeting on inviting Monday, December 05, 2016
suggestions on Companies Act ICSI-WIRC, A/C Auditorium
18
5th Floor, Jolly Maker Chambers, No. 2,
Nariman Point, Mumbai – 400021
19 National Conclave on Insolvency and Friday, December 16, 2016
Bankruptcy Code, NSE Auditorium, Bandra Kurla Complex, Bandra
(E), Mumbai
20 Study Circle Meeting on Budget 2017 Saturday, February 04, 2017
Analysis ICSI-WIRC, A/C Auditorium
5th Floor, Jolly Maker Chambers, No. 2,
Nariman Point, Mumbai – 400021
21 Half Day Program Limited Liability Friday, February 10, 2017
Partnership (LLP) Senate Banquets Hall, 208, Regent Chambers,
Nariman Point,
Mumbai- 400 021
22 Master Class on GST February 15 to February 19, 2017
ICSI-WIRC, A/C Auditorium
5th Floor, Jolly Maker Chambers, No. 2,
Nariman Point, Mumbai – 400021
23 Program on Practical Aspects of Mergers & Saturday, February 18, 2017
Amalgamations ICSI-WIRC, A/C Auditorium, 5th Floor, Jolly
Maker Chambers, No. 2, Nariman Point,
Mumbai – 400021
24 Dadar Knowledge Center Session on Friday, February 24, 2017
Business Responsibility Reporting Indokem Limited, Khatau House, e-Mugal Lane,
Plot No. 410-411, Mahim, Mumbai

25 Study Circle Meeting on Insolvency and Wednesday, March 01, 2017

Bankruptcy ICSI-WIRC, A/C Auditorium, 5th Floor, Jolly
Maker Chambers, No. 2, Nariman Point,
Mumbai – 400021
26 Master Class on NCLT
March 02 to March 05, 2017

11
 ICSI-WIRC, A/C Auditorium, 5th Floor, Jolly
Maker Chambers, No. 2, Nariman Point,
Mumbai – 400021
Sr.
Name of the Programme Date of Programme & Venue
No
27 Half Day Program on Practical Aspects of Friday, March 10, 2017
FEMA Krishna Palace Hotel, 96/98, Sleater Road, Nana
Chowk, Mumbai, Maharashtra
28 Seminar on Women’s Day Saturday, March 11, 2017
Kamalnayan Bajaj Hall and Art Gallery, 226,
Ground Floor, Bajaj Bhavan, Jamnalal Bajaj
Road, Nariman Point, Mumbai – 400021
29 ICSI-WIRC Jointly with BSE Brokers Forum Wednesday, March 15, 2017 BSE Convention
Seminar on Recent MCA Updates Hall, P. J. Towers, Dalal Street, Mumbai- 400001
30 ICSI-WIRC & BSE Limited Joint Seminar on Saturday, March 25, 2017 BSE Convention Hall,
Insolvency and Bankruptcy Code P. J. Towers, Dalal Street, Mumbai- 400001
31 Andheri Knowledge Centre Session on Sunday, March 26, 2017
Changing Scenario of CS Profession Andheri Recreation Club,
Opportunities & Challenges Opp. Bhavan’s College Campus, Near Navrang
(NCLT, Insolvency and Bankruptcy, GST) Cinema & Vrindavan Restaurant, Andheri (West),
Mumbai
32 Dadar Knowledge Centre Session on Friday, March 31, 2017
Critical Aspects of Companies Act, 2013 in Textile Committee Hall, Adjacent to TATA Press,
raising of Capital Critical Aspects of TATA Press lane, Prabhadevi Mumbai
Companies Act in appointment and removal
of Directors

12
 ANNEXURE B
ICSI-WIRC Program Membership Scheme (PMS) 2017-18

The Western India Regional Council (WIRC) of the Institute of Company Secretaries (ICSI) organizes
number of high quality professional development programs on contemporary issues and on topics of
emerging importance. In order to facilitate the members to register for the program and get benefits, ICSI-
WIRC is pleased to announce its Program Membership Scheme. The details of the Scheme are as follows;

Credit Hours: Credit Hours would be granted to member(s) attending program as per the guidelines of the
ICSI, wherever so announced by ICSI-WIRC.

Validity: The Membership is valid for the period from April 01, 2017 to March 31, 2018.

Annual Fees: 1. Corporate Members of PMS: Rs.15,000/- plus Goods and Services Tax (8 Programs in
a year, without adopt any Knowledge Centre). In case of more than one person participating
in any single program, applicable coupons will be charged on the basis of participation.

2. Individual Member of PMS – Rs.6,000/- plus Goods and Services Tax (4 Programs in a
year, without adopt any Knowledge Centre).

3. Knowledge Centre- Following Knowledge Centre are operational or to be operational

under ICSI-WIRC (may choose any one, also eligible to interchange knowledge center
during the period).

1. Nariman Point
2. PCS Nariman Point
3. Dadar
4. Andheri
5. Borivali
6. Ghatkopar
7. Mulund

These Knowledge Centre will arrange conduct 10 Meet and 1 full day program in a year. Separate
membership also may be obtained with Fee of Rs.2,500/- plus Goods and Services Tax. Fees of
Rs.1,500/- plus Goods and Services Tax for members having opted for Individual Membership of PMS
and for any one individual nominated by corporate having opted Corporate Membership.

Online Registration & Payment:

Online Registration AND Online Payment (Net banking, credit / debit card), both can be done online at
Online payment is without any extra charge. Upon successful payment, Participants will receive
confirmation and receipt by email. Fees are non-refundable.

Online Registration Link - https://www.eventavenue.com/attReglogin.do?eventId=EVT6934

The fee may be also paid by way of cheque / demand draft in favour of “WIRC of ICSI” payable at Mumbai
and forward the same to ICSI-WIRC, 13 Jolly Maker Chambers No. 2, First Floor, Nariman Point, Mumbai
– 400021.

For any query contact Mr. Ranjith Krishnan, Assistant Director, on 022 61307912, Mr. Pramod Keot, on
022 61307924, e-mail-pdc.icsiwirc@gmail.com

13
 Terms and conditions
1. PMS is valid from April 01, 2017 to March 31, 2018. During the period, PMS member is entitled to
attend half day programs/ seminars/ felicitations arranged by WIRC Self Sponsored Senior Citizen
members (Age – above 60 years) will get one (1) additional program.

2. PMS members are not entitled for free entry for Joint Programs/ National Level Programs/ Regional
Conferences / PCS Conference/ Residential Programs / Workshops / Student Programs/ Foundation
day / Picnic or any other programs not specified in the brochure of the program. However, WIRC may,
at its sole discretion, from time to time, announce the discount on fees for PMS members for such
programs.

3. PMS members will be required to register for a program in advance till the date given in the circular.
Failing to register till stipulated date will attract additional fees / Spot registration fees as may be
decided from time to time by WIRC at its sole discretion.

4. PMS member do not have right to attend programs of WIRC and entry to the program is subject to
availability of seats.

5. WIRO reserves the right to cancel/ terminate/ change/ modify the terms and conditions of the PMS,
without prior notice.

6. Corporate Member of PMS need to nominate one individual for Knowledge Centre Scheme, if opted
for it and name of such nominee cannot be changed.

7. PMS member opting for Knowledge Centre Scheme, need to intimate place of One Knowledge Centre
which individual PMS member / nominee of Corporate PMS member will attend.

8. Fees of PMS once paid are not refundable.

9. If online registration is done for the PMS, then it is deemed to have consented to these terms and
conditions by the Individual / Corporate member of PMS of ICSI-WIRC.

10. Decision of the Executive committee of WIRC will be final and binding on members.

CS Hitesh Kothari CS Prakash K. Pandya

Chairman Chairman
Professional Development Committee ICSI-WIRC
Mumbai Region, ICSI-WIRC

14
 ICSI-WIRC
To,
Regional Director
ICSI- WIRC
13, Jolly Maker Chamber No.II,
Nariman Point, Mumbai-400021

Dear Sir,

Please register me/us for the Program Membership Scheme (PMS) 2017-18 of ICSI-WIRC.

Sr. No Particulars
1. Name

2. ICSI Membership No.

ACS / FCS
3. Designation & Name of The
Company / Firm Of PCS
4. Sponsoring Organisation
5. Correspondence Address

6. Date of Birth
7. Contact Details. Tel :
Cell :
E-mail :
8. Scheme Individual / Corporate

9. Knowledge Centre
Choose any one
10. Details of Fees Paid Cheque / Demand Draft for
Rs. _________________in favour of “WIRC of ICSI”
payable at Mumbai.

I have read and consent to the terms and conditions for the PMS of ICSI-WIRC.

Yours faithfully,

Signature of the Member/ Authorized Signatory of Corporate / Firm

Date: Place:

15
 ANNEXURE C
LIST OF AWARD / PRIZE WINNERS FROM WESTERN REGION
PROFESSIONAL PROGRAMME EXAMINATION

Name of the Prize

NAME OF THE PRIZE AWARD AND CRITERIA Winner of June 2016
Examination
165-WIRC MEDAL Ms. Shriya Purshottam Somani
Awarded to a candidate who passes in all papers of the Mumbai
Professional Programme Examination, at first attempt, in one
sitting, without claiming exemption in any subject and
obtaining the highest marks taking into account the performance of all
such successful candidates under old as well as new syllabi from
examination centres within the Western Region.

166-WIRC CASH PRIZE Shri Rumit Ajay Matalia

Awarded to a candidate who passes in all papers of the Mumbai
Professional Programme Examination, at first attempt, in one
sitting, without claiming exemption in any subject and obtaining
the second highest marks taking into account the performance of
all such successful candidates under old as well as new syllabi
from examination centres within the Western Region.

167-LATE SHRI S. NARAYANAN MEMORIAL PRIZE AWARD Ms. Shriya Purshottam Somani
Awarded to a lady candidate who passes in all papers of Mumbai
the Professional Programme Examination, at first attempt, in one
sitting, without claim i n g exemption in any subject and obtaining
the highest marks taking into account the performance of all
such successful lady candidates under old as well as new syllabi
from examination centres within the Western Region.

168-PAST PRESIDENT CHINUBHAI R. SHAH AWARD Ms. Richa Chokhani

Awarded to a candidate who passes in all papers of the Mumbai
Professional Programme Examination, at first attempt, in one
sitting, without claiming exemption in any subject and obtaining
the highest marks in ‘ Company Secretarial Practice paper under
old syllabus OR in ''Advanced Company Law and Practice'' paper
under new syllabus taking into account the performance of all such
successful candidates under old as well as new syllabi from
examination centres within the Western Region.

16
 Name of the Prize
NAME OF THE PRIZE AWARD AND CRITERIA Winner of June 2016
Examination
169-SUKHLAL C. MODY MEMORIAL PRIZE Ms. Priya Sunil Goel
Awarded to a candidate who passes in all papers of the Professional Surat
Programme Examination, at first attempt, in one sitting, without claiming
exemption in any subject and obtaining the highest marks in ‘
Corporate Restructuring and Insolvency’ paper under old syllabus OR in
''Corporate Restructuring, Valuation and Insolvency'' paper under new syllabus
taking into account the performance of all such successful candidates under
old as well as new syllabi from examination centres within the Western
Region.

170-WIRC PAST CHAIRMAN V.K. MATHUR MEMORIAL Co-winner :

AWARD Ms. Priya Sunil Goel
Awarded to a candidate who passes in all papers of the Professional Surat
Programme Examination, at first attempt, in one sitting, without claiming
exemption in any subject and obtaining the highest marks in ‘ Drafting
, Appearances and Pleadings’ paper taking into account the performance
of all such successful candidates under old as well as new syllabi from
examination centers within the Western Region.

170-WIRC PAST CHAIRMAN V.K. MATHUR MEMORIAL Co-winner :

AWARD Shri Vignesh Sharad Vora
Awarded to a candidate who passes in all papers of the Professional Mumbai
Programme Examination, at first attempt, in one sitting, without claiming
exemption in any subject and obtaining the highest marks in ‘
Drafting, Appearances and Pleadings’ paper taking into account the
performance of all such successful candidates under old as well as new
syllabi from examination centers within the Western Region.

171-SHRI KANHAIYALAL N. DUSANEWALA VAKIL Ms. Salomi Shailendra

(NANDURBAR) MEMORIAL AWARD Nagarseth
Awarded to a lady candidate who passes in all papers of the Thane
Professional Programme Examination, at first attempt, in one sitting, without
claiming exemption in any subject and obtaining the second highest
marks taking into account the performance of all such successful lady
candidates under old as well as new syllabi from examination centres within
the Western Region.

17
EXECUTIVE PROGRAMME EXAMINATION

Name of the Prize

NAME OF THE PRIZE AWARD AND CRITERIA Winner of June 2016 Examination

172-WIRC MEDAL Ms. Pratiksha Laxman Rochlani

Awarded to a candidate who passes in all papers of the Executive Nagpur
Programme Examination, at first attempt, in one sitting, without
claiming exemption in any subject and obtaining the highest
marks taking into account the performance of all such successful
candidates from examination centres within the Western Region.

173-WIRC CASH PRIZE Shri Umang Gupta

Awarded to a candidate who passes in all papers of the Executive Thane
Programme Examination, at first attempt, in one sitting, without
claiming exemption in any subject and obtaining the second highest
marks taking into account the performance of all such successful
candidates from examination centres within the Western Region.

174-PAST PRESIDENT CHINUBHAI R. SHAH AWARD Ms. Shreya Agrawal

Awarded to a candidate who passes in all papers of the Executive Bhatapara
Programme Examination, at first attempt, in one sitting, without
claiming exemption in any subject and obtaining the highest marks in
‘Company Law’ paper, taking into account the performance of all such
successful cand i dates from examination centers within the Western
Region.

175-SUGUNA MEMORIAL PRIZE Ms. Pratiksha Laxman Rochlani

Awarded to a lady candidate who passes in all papers of the Nagpur
Executive Programme Examination, at first attempt, in one sitting, without
claiming exemption in any subject and obtaining the highest marks
taking into account the performance of all such successful lady
candidates from examination centres within the Western Region.

18
FOUNDATION PROGRAMME EXAMINATION

Name of the Prize

NAME OF THE PRIZE AWARD AND CRITERIA Winner of June 2016 Examination
176-ELVINA PINTO MEMORIAL PRIZE AWARD Co-winner :
Awarded to a candidate who passes in all papers of the Foundation Ms. Sonali Jain
Programme Examination, at first attempt, in one sitting, without claiming Pune
exemption in any subject and obtaining the highest marks
taking into account the performance of all such successful candidates from
examination centres within the Western Region.

176-ELVINA PINTO MEMORIAL PRIZE AWARD Co-winner :

Awarded to a candidate who passes in all papers of the Foundation Shri Parth Lakhani
Programme Examination, at first attempt, in one sitting, without claiming Mumbai
exemption in any subject and obtaining the highest marks
taking into account the performance of all such successful candidates from
examination centres within the Western Region.

176-ELVINA PINTO MEMORIAL PRIZE AWARD Co-winner :

Awarded to a candidate who passes in all papers of the Foundation Shri Tarak Sanjay Shah
Programme Examination, at first attempt, in one sitting, without Mumbai
claiming exemption in any subject and obtaining the highest
marks taking into account the performance of all such successful
candidates from examination centres within the Western Region.

19
 Narda Simi Associates 1,1,1°
I ERED 1CCOL \TV\ r,
Manoj Jain B.Com (Hons), FCA, ACS
Independent Auditor's Report

To the Members of
WIRC OF ICSI

Report on the Financial Statements

We have audited the accompanying Financial Statements of WESTERN INDIA

REGIONAL COUNCIL OF THE INSTITUTE OF COUNCIL SECRETARIES
OF INDIA, which comprise the Balance Sheet as at March 31, 2017 and the
Statement of Income and Expenditure Account for the year then ended and a
summary of Significant Accounting Policies and other explanatory information.

Management's Responsibility for the Financial Statements

Institute Management is responsible for the preparation of these financial statements

in accordance with the Company Secretaries Act, 1980 (the Act) that give a true and
fair view of the financial position and financial performance in accordance with the
Accounting principles generally accepted in India. This responsibility includes the
maintenance of adequate accounting records in accordance with the provisions of the
Act for safeguarding the assets of the Council and for preventing 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 or error.

Auditor's Responsibility

Our responsibility is to express an opinion on these Financial Statements based on our

audit. We conducted our audit in accordance with the Standards on Auditing issued by
the Institute of Chartered Accountants of India. Those Standards require that we
comply with ethical requirements and plan and perform the audit to obtain reasonable
assurance about whether the Financial Statements are free from material
misstatement.

An audit involves performing procedures to obtain audit evidence about the amounts
and disclosures in the financial statements. The procedures selected depend on the
auditor's judgment, including the assessment of the risks of material misstatement of
the Financial Statements, whether due to fraud or error. In making those risk
assessments, the auditor considers internal control relevant to the Council's
preparation and fair presentation of the Financial Statements in order to design audit
procedures that are appropriate in the circumstances. An audit also includes
evaluating the appropriateness of Accounting Policies used and the reasonableness of
the accounting estimates made by management, as well as evaluating the overall
presentation of the Financial Statements.

20

11, Friend's Union Premises Co-operative Society Ltd, 2nd Floor, 227, P.D'Mello Road, Mumbai 40000
Phone : (0) 2207-5289, 4004-6292 ; Mobile : 9819165816, 9320265816
Email : manojj2102@gmail.com / manoij_2102@yahoo.co.in
Nagpur (HO): "Chartered Square", Samrat Ashok Square, Saraipeth, Nagpur- 440 009.
0712-2726795. 2729471, Email: sardasoniassociates@gmail.com
 Narda Sold Associates 1,1,11'
( \It I LRED Ot Vs 1
oj Jain B.Com (Hons), FCA, ACS
We believe that the audit evidence we have obtained is sufficient and appropriate to
provide a basis for our audit opinion.

Opinion

In our opinion and to the best of our information and according to the explanations
given to us, the aforesaid financial statements as mentioned in first paragraph give
the information required by the Act in the manner so required and subject to the
observations as stated in Note No: (B) 7 to the Notes to Accounts, give true and
fair view, in conformity with the accounting principles generally accepted in India , of
the state of affairs of the Council as at 31st March, 2017 and its surplus for the year
ended on that date.

Report on Other Legal and Regulatory Requirements

1. Further to our comment under Para 1 above, we report as under :

a) we have sought and obtained all the information and explanations which to the
best of our knowledge and belief were necessary for the purpose of our audit;

b) In our opinion proper books of accounts as required by law, subject to

observations as stated in Note No: B(7) to the Notes to Accounts have
been kept by the Council so far as appears from our examination of those
books.

c) the Balance Sheet and Income and Expenditure Account dealt with by this
Report are in agreement with the books of account as maintained.

d) in our opinion, the aforesaid Financial Statements comply with the Accounting
Standards issued by the Institute of Chartered Accountants of India.

• p

As per our report of even date

4

For SARDA SONI ASSOCIATES LLP

Chartered Accountants
(FRN 117235W)
Place : Mumbai j.
SC90---‘4,r
0)
(..)
-,

Date: 14/07/2017 e--- ----j61.'w. 6'

Div
4- P•••
Manoj Kumar Jain 4/ ''' /5;-
.

Partner 7 A,J
M.No.120788 -(,01
.11i3V

21

11, Friend's Union Premises Co-operative Society Ltd, 2nd Floor, 227, F.D'Mello Road, Mumbai 400001.
Phone : (0) 2207-5289, 4004-6292 ; Mobile : 9819165816, 9320265816
Email : manojj2102@gmail.com / manojj_2102@yahoo.co.in
Nagpur (HO): "Chartered Square, Samrat Ashok Square, Saraipeth, Nagpur- 440 009.
Phone : 0712-2726795, 2729471, Email: sardasoniassociates@gmail.com
 WESTERN INDIA REGIONAL COUNCIL OF THE INSTITUTE OF COMPANY SECRETARIES OF INDIA
BALANCE SHEET AS AT 31st MARCH, 2017
(Amount in Rs.)

PARTICULARS NOTE NO. As at 31st March 2017 As at 31st March 2016

I. SOURCES AND LIABILITIES

(1) Reserves & Surplus

(a) Reserve & Surplus 1 8,087,943.00 7,846,776.00

(b) Earmarked Funds 2 -

SUB-TOTAL (1) 8,087,943.00 7,846,776.00

(2) Non- Current Liabilities a

SUB-TOTAL (2) - -

(3) Current Liabilities

(a) Sundry Creditors 3 1,582,429.00 2,304,129.00

(b) Other Current Liabilities 4 842.515.00 1,034,935 00

(c ) Short term Provisions 5 1,156,793.00 625,288.00

SUB-TOTAL (3) 3,581,737.00 3,964,352.00

TOTAL (1+2+3) 11,669,680.00 11,811,128.00

II. ASSETS
(1) Non-current Assets I
(a) Fixed Assets
(i) Tangible Assets 6 4,140,014.00 4,736,354.00

SUB-TOTAL (a) 4,140,014.00 4,736,354.00

(b) Non-current Investments 7

(c ) Long Term Loan and Advances 12A 136,007.00 148,120.0U

(d) Other Non-Current Assets

SUB-TOTAL (1) 4,276,021.00 148,120.00

(2) Current Assets

(a) Current Investments 8 278,266.00 268,979.00

(b) Inventories 9 - 296,248.00

(c ) Sundry Debtors 10 648,096.00 1,601,892.00

(d) Cash and Cash Equivalents 11 5,455,550.00 2,163,860.00

(e) Short terms Loans and Advances 12 912,294.00 2,450,448.00

(I) Other current Assets 13 1 99,453.00 145,227.00

SUB-TOTAL (2) r 7,393,659.00 6,926,654.00

TOTAL (1) + (2) 11,669,680.00 11,811,128.00

ACCOUNTING POLICIES AND OTHER NOTES TO THE 20

ACCOUNTS 4 -

Notes referred to above form an integral part of the Balance Sheet. For and on Behalf of Western India Regional Council of The Institute of Company
Secretaries of India
As per our report of even date.
For - Sards Soni Associates 4. 44 — \-.?('''‘
1 sA4-' 00
11 _
c.p0 A.5.50° K. C Ka s ik CS Prakash Pandya CS Shilpa Kedar Dixit
Chartered Accountants
%- Chairman Vice Chairman

e__________-4 .\ ,..
FRN : 117235 C> Regional hector
4c. FIRM P.EGN. r-
N:l'i
(CA Manoj Jain)
.4". 7235
r3.. „ Mtls3A1 (i3ilvzi
Membership No 120738
ED ACC° CS Praveen Soni CS Ashish Karodia
Place: - Mumbai
Secretar~~ Treasure'

Date : 14/07/2017

22
 WESTERN INDIA REGIONAL COUNCIL OF THE INSTITUTE OF COMPANY SECRETARIES OF INDIA
INCOME & EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31st MARCH 2017

Amount in Rs.

PARTICULARS Note No. For theyear ended

3 I s.t March 2017 31st March 2U16
INCOME

Income from Activities 14 15,744,227 21,023,826

Other Income 15 1,502,699 2,004,880
TOTAL INCOME 17,246,926 23,028,706
EXPENDITURE

Employee Benefit Expense 16 47,512 619,881

Oral Eduction Expense . 1,728,822 3,731,818
Travelling and Conveyance Expense 17 89,548 400,914
Programmes /Seminars Expense 18 7,965,451 9,457,434
Depreciation & Amortization 664,840 929,131
Publication Expenses 687,919
Other Expenses 19 6,081,536 5,411,118
TOTAL EXPENDITURE 16,577,709 21,238,215

Surplus before extraordinary & exceptional items 669,217 1,790,491

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) 428,050

Surplus after extra ordinary & exceptional items

Appropriation to Funds / Reserves :

TOTAL APPROPRIATIONS 428,050 -

Balance transferred to General Reserve 241,167 1,790,491

TOTAL 241,167 1,790,491

ACCOUNTING POLICIES AND OTHER NOTES TO THE
20
ACCOUNTS
Notes referred to above form an integral part of the Income For and on Behalf of Western India Regional Council of The Institute of Company
& Expenditure A/c. Secretaries of India

, .023A-
4
(

As per our report of even date annexed. 41

2C114°'
.------

Sarda Soni Associates Lt..-r ,-.—.17-7-":17,... ICT- aushik CS Prakash Pandya For-Kedar Dixit
CS Shilpa
Chartered Accountants 1 ,<.:)%=''. 1.,.‘ .":: Region Director Chairman Vice Chairman
FRN : 117235 X- 7. - ' \
/, r!H • ' . .:. , ,
y C/N
'''' I f
,
(...... S.AA1
. e.■ 'It'''': * )9P t'
(CA Manoj Jain) !';'.,. , I* I
Membership No. 120738 CS Praveen Sonl CS Ashish Karodia
.. *'
Place:- Mumbai tric ----
., c a+.
\\'' Secretary Treasurer

Date : 14/07/2017

tiy

23
 WESTERN INDIA REGIONAL COUNCIL OF THE INSTITUTE OF COMPANY SECRETARIES OF INDIA

RESERVES & SURPLUS Note - 1

(Amount in Rs. )
PARTICULARS As at 31st March 2017 As at 31st March 2016

(1) GENERAL RESERVE

As per last Balance Sheet 4,620,652 2,830,161
Surplus [Excess of Income over Expenditure transferred from I&E A/C] 241,167 1,790,491
Sub-Total (1) : 4,861,819 4,620,652
(2) OTHER THAN GENERAL RESERVES, IF ANY it

Office Renovation Fund -As per Last B/S

105,502 105,502
.
Fixed Assets Reserve -As per Last B/S
73,220 73,220
Prize Distribution Fund - As per Last B/S
165,011 165,011

Sub-Total (2) : 343,733 343,733

(2A) BUILDING RESERVE
As per last Balance Sheet 15,436,060 15,436,060
Sub-Total (2A) : 15,436,060 15,436,060
(2B) LIBRARY RESERVE /

As per last Balance Sheet 1,436,675 1,436,675

Sub-Total (2B) : 1,436,675 1,436,675
(2C) I N FRASTRUCTURE RESERVE
As per last Balance Sheet 29,084,433 29,084,433
Sub-Total (2C) : 29,084,433 29,084,433
(2D) OTHER RESERVE
As per last Balance Sheet 95,000 95,000
Sub-Total (2D) : 95,000 95,000
TOTAL (2) : 46,395,901 46,395,901
(3) CONTRIBUTION TO /FROM TOWARDS LAND & BLDG / OTHER
ASSETS

Add : Contribution (Liabilities) 1,956,033 1,956,033

Less : Contribution (Assets) 4 -

45,125,810 - 45,125,810

TOTAL (3) : - Ct 43,169,777 - 43,169,777

Total : (1)+(2) +(3) : 8,087,943 7,846,776

aTo

24
25
 WESTERN INDIA REGIONAL COUNCIL OF THE INSTITUTE OF COMPANY SECRETARIES OF INDIA
NOTE - 3
(Amount in Rs.)
( SUNDRY CREDITORS As at 31st March 2016
As at 31st March 2017
PARTICULARS
Sundry Creditors 2,304,129.00
1,582,429.00
- For Goods & Services

1,582,429.00 2,304,129.00
Total :

NOTE - 4
(Amount in Rs.)
OTHER CURRENT LIABILITIES
As at 31st \larch 2017 As at 31st March 2016
PARTICULARS
Other Current Liabilities 843,305.00
542,805.00
(i) Security Deposits
(ii) Other Current Liabilities 96,630.00
55,745.00
TDS [of March 2016 & 2015] 95,0.
243,965.00
- Others 1,034,935.00
Total : 842,515.00

NOTE - 5
(Amount in Rs.)
SHORT TERM PROVISIONS
As at 31st March 2017 As at 31st March 2016
PARTICULARS 4

1,075,355.00 625,288.00
(i) Provision for expenses
81,438.00
ii) Provision for TA & Others Claim of Mr. Kamlesh Joshi 1 156 793 00 625,288.00
Total :
\ oti

: FIRM
ec
v,
..c 7;11: 1
'1-12:):, • ;,.

$40i,
- cRED

26
 F I XEDA SSETS

crDIOCK

' R IO ],
Adi o c t l t, ' Tota l I Fo r t he I Adju s tment!I
Ite ms Ra te of Deprec iation U0 SU 31.3. 201 6I
Ll Or f. I f
'e a .{ I Tra nsfe r/ 1
I
uose
910Z1- 1 ales 1-757fF

( i ) Ta ngib le Asse ts ti91' ZtiV Z 656. Z16` Z

896' 901' Z 96t 1 6Z t9Z
LLVV1 V ,
/217. 00' S
I I I I

c
I
IL . 41 /1. 0
0
Fu rn itu re &Fixtures 11' 1 ' O O P
tSt L89'ti1C 1 1,4 73,74 3 240,08 5I

,
160,05 6

C*
0,0 ci.L

(4'1
I
070 . CIP 1
0
Comp u ter Peripherals 1: £6.96L 5Z9' IU 96C r8 IZV 91t 1 ztour 56 5. 3 08I
7VL
0
Cool ing Equ ipmen t f 1 618Z 916' 11 VZS' /.9 OVV 6L
VA.
0
ElectricalEqu ipme n t

Office Mach ines and £66' t'88 68Li tt

1. Lt ..
PICL1 51
773,425
8 9 5. 11 1 63 2,2 21
tion Equipmen t
cation 0
Commun
Conimuniica 80 c' S 85C6t, 60 S' L8 L IL Ft
L7VVL
L9O' Lf I
I
44, 350
I

cc
,
!In. 4 1
0
Ot her Equ ipm ent 1112 161 it (2 161.
inlOt 1 91,7 43
I.ibrary Books

Vehic les 0

27
4,736,354I
59S' OC1:6 01111191 1 leSt61' purotr rI
27V .0 7 V

a
5
A.
Cu rren t Yea r Total ( i) 016' 910' r I Trt7-6.7-1
86L' 09V6
22 1, 267
Prev iou s Year To ta l ( i)

* M
—
ci,ED
ASS0(

NO. -1. 22
ti

r
*
FIRM REGN. <A
 NOTE-7
WESTERN INDIA REGIONAL COUNCIL OF THE INSTITUTE OF COMPANY SECRETARIES OF INDIA

NON CURRENT INVESTMENTS

AS ON AS ON
PARTICULARS ADDITIONS DELETIONS
01.04.2016 31.03.2017
1
I \ VESTMNET IN GOVT. SECURITIES

SUB-TOTAL(I) : - s•
- -
II INVESTMENT IN DEBENTURES / BONDS

SUB-TOTAL(II) : 4 - - -
HI INVESTMNET IN MUTUAL FUNDS

SUB-TOTAL(III): - - - -
IV OTHER NON-CURRENT INVESTMENTS

(A) Fixed Deposits in Banks

SUB-TOTAL (IV-A) : - . . _
(B) 'Fixed Deposits with institutions other than Banks /

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

SUB-TOTAL (IV-C) : - - - -
TOTAL IV : - - - -
TOTAL (1+111-111+1V) : - - - -

28
 NOTE-8

WESTERN INDIA REGIONAL COUNCIL OF THE INSTITUTE OF COMPANY SECRETARIES OF INDIA

(Amount in Rs.)

CURRENT INVESTMENTS
AS ON ADDITIONS DELL ivno
31.03.2017
PARTICULARS
01.04.2016

SUB-TOTAL(I)

II INVESTMENT IN DEBENTURES I BONDS

SUB-TOTAL(II)

III
SUB-TOTAL( 111) :

IV
(A)

SUB-TOTAL IV-A) :

Fixed De sits with institutions other than Banks

(B
SUB-TOTAL IV-B):

es -.01 An
278,266.00

4§0 ASSois.,

Tri r:7 N
1
II A- .*

29
 WESTERN INDIA REGIONAL COUNCIL OF THE INSTTTUTE OF COMPANY SECRETARIES OF INDIA
NOTE - 9

(Amount in Rs.)
INVENTORIES
As at 31st March 2017 As at 31st March 2016
PARTICULARS
287,608
Publications (RO / Chapters own)
8,640
Consumables, Stores & Others (RO / Chap own)
296,248
Total :

NOTE - 10

(Amount in Rs.)
SUNDRY DER tom,
As at 31st March 2017 As at 31st March 2016
PARTICULARS
Sundry Debtors outstanding for more than six months

648,096 1,601,892
Unsecured, considered good
648,096 1,601,892
Total :

NOTE - 11

(Amount in Rs.)
CASH AND CASH CVVI V .9.1...r...1 1 a
As at 31st March 2017 As at 31st March 2016
PARTICULARS
5,449,473 2,144,672
Balances with Bank (Including linked term deposits)

Cheques / Drafts / Postal Orders I Stamps /

Franking Units in hand
6,077 19,188
Cash in hand - WIRC & Kandivali Study Circle
5,455,550 2,163,860
Total :

!c- ( rr
FiRM R t7 GN r^
NO. 1' :f 35
MU:Y.
ty

(ireo Acc(),

30
 NOTE - 12

(Amount in Rs.)
SHORT TERM LOANS AND ADVANCES

As at 31st March 2017 As at 31st March 2016

PARTICULARS

SHORT TERM LOANS AND ADVANCES

Secured, considered good
- 52,000
- Advance to Goregaon Sports Club
912,294 2,398,448
- Recoverable from HQ/ Chapters
Total : - 912,294 2,450,448
.--

Note 12A
•
LAJM, 1 ICAStva L.A.yrum. "11 ar c.a.. e-a....-.2..-.
As at 31st March 2017 As at 31st March 2016
PARTICULARS
[1]Security Deposit
- 135,007 147,120
(a) Secured, Considered good
(II) Other Loans and Advances
1,000 1,000
(a) Unsecured. Considered good (Kandivali)
Total : - 136,007 148,120

1
NOTE - 13

(Amount in Rs.)
OTHER CURRENT ASSETS

As at 31st March 2017 As at 31st March 2016

PARTICULARS

OTHER CURRENT ASSETS

15,324 5,021
Accrued Interst on Current Investments
9,120
Prepaid Expenses
84,129 131,086
CENVAT Credit
Total : 99,453 145,227

ASS •-•
\
trt FIRM RE N.
NO. 17235 It
MBA'

ACCW'

31
 Note -14
WESTERN INDIA REGIONAL COUNCIL OF THE INSTITUTE OF COMPANY SECRETARIES OF INDIA

INCOME FROM ACTIVITIES (Amount in Rs.)

For the year ended

PARTICULARS 31st March 2016
31st March 2017
Income from Students
Oral Education Fee
Foundation 757,250 1,633,500
Exective 1,615,500 3,793,167
Professional 371,500 368,000
Other Fees :
Library Annual Subscription 978
Library Fine 2,744,250 168 5,795,813
Sale of Publications (RC /Chap own) 847,373

Programmes / Seminars t

From Members 6,245,052 7,324,020

- 6,245,052 7,324,020

From Students
MSOP 4,172,500 5,244,000
Professional & Executive Development 197,625 302,000
Program
Professional Induction Program 396,000 367,500
Professional E-Governance Program 864,000 591,000
Professional Skill development 960,800 552,120
- Others 164,000 6,754,925 - 7,056,620
Total : 15,744,227 21,023,826

32
 WESTERN INDIA REGIONAL COUNCIL OF THE INSTITUTE OF COMPANY SECRETARIES OF INDIA
Note -15

OTHER INCOME (Amount in Rs.)

For the year ended

PARTICULARS
31st March 2017 31st March 2016

Subscription to Newsletter 9,000

Interest on Bank Account 159,842 231,354

Investor Awamess Programmes 85,801 700,000

Grants received from Headquarters 1,210.152 964,640

-Royalty /Commission from Publications 45,169 96,574
-Miscellaneous (other Income) 750
-Sale of Scrap Materials / Paper 1,735 46,904 2,562 99,886
Total : 1,502,699 2,004,880

cc

33
 WESTERN INDIA REGIONAL COUNCIL OF THE INSTITUTE OF COMPANY SECRETARIES OF INDIA
Note -16

(Amount in Rs.)
EMPLOYEE BENEFIT EXPENSE

For the year ended

PARTICULARS
31st March 2017 31st March 2016

Salaries and Allowances 13,774 270,000

Staff Welfare 33,738 349,881

TOTAL - 47,512 619,881

Note -17

(Amount in Rs.)
TRAVELLING AND CONVEYANCE EXPENSE

For the ye4r ended

PARTICULARS
31st March 2017 31st March 2016

Conveyance Expenses 89,548 400,914

TOTAL - 89,548 400,914

Note - 18

(: Amount in 1Zs.)

• For the year ended

PARTICULARS
31st March 2017 31st March 2016

Programmes / Seminars of Members 5,547,177 5,547,177 6,223,051 6,223,051

Programmes / Seminars of Students 4 .

Training Programmes Students PDP & Executive r

Development Programme 172,467 80,211

MSOP & Students training Programmes 1,740,203 2,779,288

Professional Induction Program 119,274 109,420

Professional E-Governance Program 158,032 150,930

Professional Skill Development 228,298 114,534

2,418,274 3,234,383

TOTAL 7
0;7., - 7,965,451 9,457,434
c.
NI/

34
 WESTERN INDIA REGIONAL COUNCIL OF THE INSTITUTE OF COMPANY SECRETARIES OF INDIA
Note - 19
(Amount in Rs.)
OTHER EXPENSES

For the N ear ended

PARTICULARS 31st March 2017 31st March 2016
70,548 284,620
Stationery
126,119
Legal and Professional Services
296,560 229,005
Rent, Rates and Taxes
726,975 860,690
Electricity and Water _
Communication Expense
286,763 374,595
- Telephone & Internet / Fax
41,018 327,781 61,024 435,619
- Courier / Postage
Repairs and Maintenance
2,700 14,430
- Computer
60,650 63,350 118,716 133,146
- Other Assets
839,537 985,367
Housekeeping & Assistant Charges
11,980 ,
20,529
Newspapers and periodicals
1,263,115 1,210,202
Meeting expenses
14,150
Packing and Despatch
2,316 1,140
Bank Charges
164,376 50,325
-Internal Auditor Remuneration
50,000 41,712
-Staturory Auditor Remuneration
214,376 20,610 112,647
-Other Services
109,901 700,000
Investor Awamess Programmes
961 806
E- Filing Charges (TDS Returns)
24,000
Service Tax Consultancy Fees
401,047 237,217
Office & Hospitality
73,167 137,544
Campus Placement & Careerawareness Exp.
53,803 24,436
Miscellaneous
1,500,000
Bad debts 5.411,118.00
TOTAL ,,, 6,081,536.00

1
4

35
 NOTE — 20

WESTERN INDIA REGIONAL COUNCIL OF THE INSTITUTE OF COMPANY

SECRETARIES OF INDIA

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 amotint 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 Recognition

a. Fees received from Members are accounted for on cash basis. However, fees received in advance are
carried over as a liability.

b. Fee from students is recognized on cash basis.

c. Examination fee is recognized on the basis of conduct of examination.

d. 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.

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

4. Investments
a. 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 valu

36
5. Fixed Assets / Depreciation and Amortization

a. Fixed Assets excluding Land are stated at historical cost less depreciation.
Depreciation is provided on the Written Down Value method at the following rates as approved by
b.
the Council, based on the useful life of the respective assets :
/
70
1
Item
5
Buildings
10
Furniture and Fixtures
Lifts/Air Conditioners/Other Equipments 15
20
Vehicles
Computers / Mobile Phones 40

Depreciation on additions to Fixed assets is provided on pro-rata basis. No depreciation is charged

c.
in the year of sale.

d. Fixed Assets costing 5,000 or less are fully depreciated.

e. Library books are depreciated at the rate of 100% in the year of purchase.

f. 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,ttc. are valued at lower of cost or net
realizable value. The cost is determined on FIFO basis.
'Earnest Money Deposits, Retention Money,
8. Old outstanding amounts under the heads of
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.

37
(B) NOTES TO ACCOUNTS (Notes must be given even if the amount / particulars are Nil)

1. Contingent Liability Nil

2. Prior Period Income / Expenditure Rs. 4,28,050/-
3. Capital Commitments Nil
4. Other Commitments Nil
5. Donation in kind - Nil
6. Related Party Transactions Nil

7: The following instances of defalcation of funds / unauthorised withdrawals of funds and submission
of suspicious bills were reported in our Interim Audit Report on the Accounts of WIRO for the
period 1st April, 2016 to 15th October, 2016 and accordingly the follow up actions including
recovery of amount were to be taken by ICSI.

I. Wrongful and unauthorised NN ith (I rawals of funds

1) Amount of Rs. 2,70,000/- unauthorisedly withdrawn towards alle‘ged payment made to M/s
Vertices Partners for legal and professional fees,

II. Defalcation of funds/ submission of suspicious hifts.

1) Submission of suspicious Bill of Residency Sarovar Portico for Rs. 5,698/-.

from Award
2) Payment of an amount of Rs. 39,375/- towards purported purchase of Mementoes
Creators and Sculptors (Sanjay B. Bagkar).

1). The books of accounts were maintained in ERP System.till 30.09.2016. However, after Is' October,
2016 the same was migrated to Tally ERP 9. The closing balance as on 30.09.2016 as per the ERP
System was taken as opening balance as on 01.10.2016 in Tally ERP 9. The data entry in Tally ERP 9
has not been made on regular basis . Entries in Tally ERP P9 has been made based on available
vouchers, bills and records and we have relied on the same.

2a The balance of Sundry Debtors and Creditors are subject to confirmation.

2b The Regional Council at its meeting:e1rdIRomilr4:1July 2017 decided to write-off the Sponsorship
amount of Rs. 15,00,000/- shown as due from Jones Lang LaSalle (JLL)

CJW_ASSti?,

-
35. 117.1
* JO -

r-N
-7 • 0A1 *
A CC06\

38
 - - -

Previous year figures have been regrouped and or rearranged wherever necessary.
3)
T.R. Chadha & Co. LLP, Chartered
The Executive Committee had appointed Mls. a & Co.,
R. Jaitlithe
Chartered
4) as Internal auditors in place of M/s. ubmit
Accountants rn ir Report for the Quarter
have yet to s
Accountants. The Internal Auditor
ended 30.06.2016 onwards.
needs to be strengthened.
The internal control systems with regard to inventory
5) the year ended
Audit Report on the Accounts for
IV. The observations made in the
31st March, 2016.

period expenses amounting to Rs. 4,28,050/- represent amount shown in the

1) Prior
accounts for the year ended 31.03.2016 as recoverable from HQ. The
been accounted for in the books as prior period expenses during the current year.
I

0 , which were not accountedthe

2)
Out of the bills of Vendors aggregating to Rs. 8,31,712.8
a sum of Rs. /- has
93,604ns to been adj usted during
be in the
for in the year ended 31.03.201 6 , accounted for
year. The balance sum of Rs. 7,38,108.80 still remai
accounts.

of
For and on behalf of theWestern Inia Regional Council
As per our report of even date. The Institute of Company Secretaries of India.

FOR SARDA SONI ASSOCAITES

LLP
C--v
Chartered Accountants CS Shilpa Kedar
FRN 117235W ik CS.Prakash
KC Dixit
Pandya
Re onal Vice Chairman
rector Chairman
CA Manoj .Pain
Membership No.120738

CS Ashish Karodia
CS Praveen Soni Treasurer
Secretary
leo A (;23\
Place: Munthai

Date: 14.07.2017

39
 ABOUT WIRC OF ICSI

Western India Regional Council (WIRC) 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 financial capital
of India, i.e. Mumbai.
ICSI-WIRC comprises five states, viz. States of Chattisgarh, Goa, Gujarat, Madhya Pradesh and
Maharashtra, and two union territories, viz Daman & Diu and Dadar & Nagar Haveli. ICSI-WIRC
has 17 Chapter offices situated across the Western Region which are located at Ahmedabad,
Aurangabad, Bhayander, Bhopal, Dombivli, Goa, Indore, Kolhapur, Nagpur, Nasik, Navi
Mumbai, Pune, Raipur, Rajkot, Surat, Thane and Vadodara.
 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 Western Region by meetings, arrangements of talks and lectures and for acquiring and
dissemination of useful information in connection with the profession of Company
Secretaries.
 Organizes 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.

40