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Annual Report2012-2013

IndIAn InstItute of CoRpoRAte AffAIRs

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First interaction of the Hon’ble Minister MCA, GOI, Shri Sachin Pilot, with Corporate entities at Vigyan Bhawan New Delhi on 4th December 2012

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Content

• Overview 6 • Vision and Mission 6 • General Body of the Society 7 • Board of Governors 8 • Audit Committee 9 • HR Committee 9 • Organogram 10 • Partnerships 11-15Indian Corporate Law Service Academy 16-17School of Competition Law 18-20School Of Corporate Governance & Public Partnership 21-22Centre for Business Innovation & IT Services 23Center For Institutional Partnerships And Corporate Communication (IP&CC) 24-25Centre for Responsible Corporate Governance 26-27National Foundation For Corporate Social Responsibility 28-30Library - Knowledge Resource Centre 31-32International Projects - GIZ 33Staffing 34Finance Department 35

Audited Accounts for the yeAr 2012-13 36-46 • Auditors’ Report • Annual Accounts • Accounting Policies of IICA

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Overview

The Indian Institute of Corporate Affairs Society was registered on 12th September 2008 with the primary objective of establishing, managing, maintaining and running a world class institute, to be called the Indian Institute of Corporate Affairs (IICA).

Vision

To function as a holistic, capacity building institution

and think tank for corporate regulation and reform, through synergized knowledge creation and management, global partnerships and real time solutions.

Mission

1Developing capacity for undertaking holistic study

and harmonized treatment of various issues impacting corporate regulation, governance and functioning in the context of emerging international trends and opportunities.

2Enabling understanding of the changing national and

global business environment and catalyzing appropriate regulatory and service delivery responses.

3Setting up a state-of-the-art Knowledge

Management System within IICA for continuous creation, collation and dissemination of knowledge to internal and external stakeholders on issues affecting the corporate sector.

4Forging, fostering and catalysing partnerships

between various stakeholders for generating outcomes that resolve emerging business concerns for efficient and legally compliant functioning.

5Ensuring synergy of knowledge and thought

and capacity building by setting up Schools in relevant academic disciplines and Centres for interaction and taking up projects etc. in appropriate formats, with outsourcing where necessary.

6 Evolving a human resource strategy to attract the

best national/global talent, through a mix of core faculty, supported by distinguished visiting/adjunct/honorary faculty and contracted/outsourced expertise.

7Encouraging thought sharing amongst eminent

captains of industry, thought leaders etc. through partnerships and national & global networks.

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General Body of the society

Members status

Minister In-charge for Corporate Affairs Government of India

ex-officio President of the society

secretary, Ministry of Corporate Affairs

ex-officio Member, Vice president of the society

special secretary/ Additional secretary,

Ministry of Corporate Affairsex-officio Member

financial Advisor, Ministry of Corporate Affairs ex-officio Member

Joint secretary, Ministry of Corporate Affairs ex-officio Member

Joint secretary,Ministry of Corporate Affairs ex-officio Member

Joint secretary,Ministry of Corporate Affairs ex-officio Member

dG & Ceo, IICA ex-officio Member secretary

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BoARd of GoVeRnoRs of IICA

shri naved MasoodSecretaryMinistry of corporate AffairsShastri BhawanNew Delhi-110 001

shri M. J. Joseph,Additional Secretary, Ministry of corporate Affairs,Shastri BhawanNew Delhi - 110 001

prof. d. AcharyaDirector, Industrial engineeringindian institute of technology, Kharagpur-721 302, INDIA

shri udai KotakVice Chairman & MD, Kotak Mahindra Bank Limited,9th Floor, Bakhtawar, 229, Nariman Point,Mumbai – 400 021

shri Anil AgarwalPast President, AssoCHAM,President, cosmos international Limited,1 Aradhana Colony,Sector 13, R. K. Puram,New Delhi-110 066

shri sumant BatraManaging Patner & M.C Member, Legal developmentsKesar Dass B. & Associates 15 Birbal Road, Jangpura Extension,New Delhi- 110 014

Mr. Ved JainChartered Accountant,M/s Ved Jain & Associates, 33, Babar Road, 1st floor,Bengali Market,New Delhi – 110 001

shri Ramesh AdigeEx-President, Corporate Affairs,Ranbaxy Laboratories Ltd.C-12 Hauz Khas ,New Delhi 110 016

shri R. Venkata RaoVice Chancellor & Prof. of Law, national Law school of india university, P.O bag 7201, Nagarbhabvi,Banglore-560072

shri praveen VishakantaiahVice President, Intel Architecture Group,intel corporation,#23-65p, Devarabesanahalli outer Ring Road, Varthurhobli, Bangalore – 560037

shri prithvi HaldeaChairman & Managing Director, prime data BasePraxis consulting & information services Pvt. Ltd, C – 101, Rishi Apartments Alaknanda, New Delhi – 110019..

prof. B. s. sahayDirector, indian institute of Management Raipur, Govt. Engineering College Campus, Old Dhamtari Road, Sejbahar, Raipur 492 015

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Audit committee • shri Ved Jain, Chartered Accountant M/s Ved Jain & Associates

• shri M J Joseph , Additional Secretary MCA, Govt. of India

• shri Ramesh Adige, Ex- President Corporate Affairs, Ranbaxy Laboratories Ltd.

• shri Anil Agarwal, Past President ASSOCHAM President Cosmos International Ltd.

hr committee• shri Ramesh Adige, Ex- President Corporate Affairs, Ranbaxy Laboratories Ltd.

• shri Bharat Wakhlu, Resident Director Tata Group

• dr. Bhaskar chatterjee DG & CEO Indian Institute of Corporate Affairs

shri Bharat WakhluResident Director,tata Group, 10th floor, Jeevan Bharti, Tower No. 1, Cannaught Circus, New Delhi - 110 001

dr. Rana KapoorManaging Director & CEO,Yes Bank Limited, Nehru Centre, 9th floor, Discovery of India, Dr. A.B. Road, Worli,Mumbai – 400 018

dr. n. Bhaskara RaoFounder Chairman,Centre for Media studies (CMs)Research House,Saket Community Centre,New Delhi 110 017

shri som Mittal,President, nAssCoM,International Youth Centre,Teen Murti Marg,Chanakya Puri,New Delhi 110 021

shri Kunal BahlChief Executive Officersnapdeal.comJasper Infotech Pvt. Ltd.246, 1st Floor, Phase III,Okhla Industrial Area,New Delhi 110 020

dr. Bhaskar chatterjeeDG &CEO,indian institute of corporate AffairsPlot No.P-6,7,8, Sector-5,IMT Manesar, Haryana-1222050

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partnerships

George Washington university Law school, usA (nov 2008-nov 2016)

The George Washington University is a congressionally-chartered not-for profit corporation located in the District of Columbia, USA and its law school, The George Washington University Law School (GW Law), is one of the world’s leading higher educational institutions in law with substantial expertise in corporate law, commercial law, antitrust law, IP law, dispute resolution, government procurement law, environmental law, and international law. GW Law, through its India Project, has worked with lawyers, government officials, and industry officials in India on IP law and other aspects of the law.

Carnegie Mellon university, usA(feb 2009-feb 2014)

The Carnegie Mellon University is a global research university recognized for its world-class arts and technology programs, collaboration across disciplines and innovative leadership in education; Carnegie Mellon is consistently a top ranked university. The University consists of seven schools and colleges: Carnegie Institute of Technology, College of Fine Arts, Dietrich College of Humanities and Social Sciences, Heinz College, Mellon College of Science, School of Computer Science and the Tepper School of Business.

InteL technology (India) Ltd

(feb 2012-feb 2014)

Intel (NASDAQ: INTC) is a world leader in computing innovation. The company designs and builds the essential technologies that serve as the foundation for the world’s computing devices. Intel as a global technology leader is committed to enhancing lives by accelerating access to uncompromised technology for everyone, anywhere in the world.

Intel India has the mission of delivering high-quality, cost-effective solutions through technology leadership and quality engineering. We are Intel’s largest non-manufacturing site internationally.

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deutsche GesellschaftfürinternationaleZusammenarbeit (GIZ) GmbH (Phase i: 2008-2013, Phase ii:2012-2014)

GIZ works in the field of international cooperation and sustainable development and supports people and communities in creating sustainable living conditions and building better futures. GIZ is owned by the German Government, operates in over 130 countries and has been offering technical and financial support in India since last 50 years.

the institute of Company secretaries of India (ICsI)

(Jul 2012-Jul 2013)

Constituted under an Act of Parliament i.e. the Company Secretaries Act, 1980 (Act No. 56 of 1980), the Institute of Company Secretaries of India (ICSI) ICSI is the only recognized professional body in India to develop and regulate the profession of Company Secretaries in the country. The Institute of Company Secretaries of India awards the certificate of bestowing the designation of Company Secretary(CS) to a candidate qualifying for the membership of the Institute.

With 32,580 members including 5,467 members holding the certificate of the practice and the number of current students crossing 3,60,000, the institute is doing well in its endeavour of creating CS professionals.

The Institute of company Secretaries of India (ICSI) is headquartered at New Delhi and has four regional offices at New Delhi, Chennai, Kolkata and Mumbai. The Institute has four Regional Councils and 70 Chapters under their jurisdiction.

partnerships

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the institute of Chartered Accountants of India (ICAI)

(Jun 2012-Jun 2013)

The Institute of Chartered Accountants of India (ICAI) is a statutory body established under the Chartered Accountants Act, 1949 (Act No. XXXVIII of 1949), for the regulation of the profession of Chartered Accountants in India. During its 64 years of existence, ICAI has not only achieved recognition as a premier accounting body in the country but also globally, for its contribution in the fields of education, professional development, maintenance of high accounting, auditing and ethical standards. ICAI today, is the second largest accounting

body in the whole world.

the institute of cost Accountants of India (Jul 2012-Jul 2013)

The Institute of Cost Accountants of India was first established in 1944 as a registered company under the Companies Act with the objects of promoting, regulating and developing the profession of Cost Accountancy.

On 28th May, 1959, the Institute was established by the Cost and Works Accountants Act, 1959 as a statutory professional body for the regulation of the profession of cost and management accountancy.

The Institute of Cost and Works Accountants of India is the only recognised statutory professional organisation and licensing body in India specialising exclusively in Cost and Management Accountancy.

national film development corporation(from Jan 2012)

The National Film Development Corporation of India is the central agency established to encourage the good cinema movement in the country. The primary goal of the NFDC is to plan, promote and organize an integrated and efficient development of the Indian film industry and foster excellence in cinema. Over the years NFDC has provided a wide range of services essential to the growth of Indian cinema. The NFDC (and its predecessor the Film Finance Corporation) has so far funded / produced over 300 films. These films, in various Indian languages, have been widely acclaimed and have won many national and international awards..

NFDC facilitates line production services of shooting in India and animation services of overseas clients.

partnerships

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the national Law school of India university(from dec 2012)

The NATIONAL LAW SCHOOL OF INDIA UNIVERSITY came into existence through a Notification under the NATIONAL LAW SCHOOL OF INDIA UNIVERSITY Act (Karnataka Act 22 of 1986), as the culmination of efforts of the Judiciary, the Bar Council of India, the Karnataka Bar Council, the Bangalore University and the Government of Karnataka to reform legal education and to establish a centre of excellence for legal education and research in India.

The National Law School has exchange programmes with the National University of Singapore, Osgoode Hall Law School, York University, Canada and Buceuius Law School, Germany.

In addition to reaching out with legal education informally to members of the society through these programmes,

the Law School has had, from the very start, a Legal Services Clinic and a Centre for Women and the Law reaching out with legal aid, advice and mediation and negotiation for settlement of disputes to women and others from the disadvantaged sections of the society. Faculty and students of the Law School help in creating legal awareness mainly among women and girls through classes in colleges and schools in and around the city of Bangalore.

KpMG (Mar 2013-Mar 2016)

KPMG international operates as a network of member firms offering audit, tax and advisory services, working with clients to help mitigate risks and grasp opportunities.

KPMG clients, found in 155 countries, include business corporations, governments and public sector agencies and not-for-profit organizations. They look to KPMG for a consistent standard of service based on high order professional capabilities, industry insight and local knowledge.

Sustaining and enhancing the quality of its professional workforce is KPMG’s primary objective.

KPMG contributes to the effective functioning of international capital markets, supporting reforms that strengthen the markets’ credibility and enhance social responsibility.

partnerships

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MAdIson stReet CApItAL IndIA pvt Ltd(Jan 2013-Jan 2015)

MADISON STREET CAPITAL - an international investment banking firm dedicated to the highest standards of integrity and professionalism – provides corporate financial advisory services, mergers and acquisitions expertise, valuation services, and financial opinions to publicly and privately held businesses through its offices in North America, Asia, and Africa.

MSCI professionals draw on specialized expertise in partnering with middle-market firms in all industry verticals and niche markets to achieve an optimal outcome through a variety of transactions. They analyze each client’s needs to determine the best match between buyers and sellers, arrange cost-effective financing, and produce capitalization structures that maximize each clients’ potential.

Madison Street Capital remains a trusted partner and

industry-leading provider of financial advisory services, M&A assistance, and business valuations.

partnerships

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IndIAn CoRpoRAte LAW seRVICe (ICLs) ACAdeMY

skill-sets of icLs officers, po’s, and stA’s honed by ICLs AcademyJanuary 2013-March 2013

The Indian Corporate Law Service (ICLS) Academy conducted three different trainings for the ICLS Officers, Probationary Officers (PO’s) and Senior Technical Assistants (STA’s) from January till March 2013.

A week-long Mid-Career Training Programme for ICLS Officers (JAG/JAG (NFSG)) of

Ministry of Corporate Affairs was conducted at the Indian Institute of Corporate Affairs (IICA), Manesar Campus. The training, held between January 07th, 2013 and January 11th, 2013, covered topics such as Technical Scrutiny, Accounts, and Forensic Auditing.

For the STA’s of Ministry of Corporate Affairs, a one-month Mandatory Training Programme was organized by the Academy from January 28th, 2013 till February 22nd, 2013 covering topics such

as processing of different forms, company law and accounts, etc.

The ICLS Academy added another feather to its cap when the High Court ordered the institute to conduct training for officials of the Official Liquidator, Delhi. Following the orders, the ICLS Academy held the first brain storming session on March 12th, 2013 at the office of Official Liquidator, Delhi to finalize the training inputs.

students of ICLs Academy with Ms. Renuka Kumar (Joint secretary, MCA)

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Graduation of Probationary officers from icLs AcademyApril 2012

The 1st Batch of the Probationary Officers (POs), Indian Corporate Law Service (ICLS) who started their training in December, 2010 have successfully completed the training in April, 2012. A graduation service was held for the officers.

Mid-Career training programme for Group ‘B’ officials3rd and 4th september, 2012

A two-day Mid-Career Training Programme was conducted on 3rd and 4th September, 2012, at the office of the Regional Director North Western Region (NWR), Ahmedabad for Group ‘B’ Officials i.e. Senior Technical Assistants (STA) and Junior Technical Assistants (JTA). 19 STA’s/JTA’s attended the programme.

The training programme was on understanding of Balance Sheets, Statutory Audit, Technical Scrutiny of Balance Sheets, Use of e-tools - EWS and the New Company Bill 2011.

induction training Programme for icLs Probationers (2nd Batch)17th sept-2nd nov 2012

The 3rd Phase of Induction Training Programme for ICLS Probationers (2nd Batch) was conducted from 17th September 2012 to 2nd November 2012 at IICA, Manesar. The Probationary

Officers proceeded on a study tour for 3 weeks from 5th November, to 23rd November 2012. During the 3rd phase of the training Probationary Officers dealt with major commercial laws i.e. Indian Contract Act, Partnership Act, Sale of Goods Act, Negotiable Instrument Act etc. and Amalgamation of Companies, Winding up of Companies, Implementation of XBRL, Accounting Standards, IFRS etc. under the Companies Act 1956.

training session in progress at IICA, Manesar

Participants of stA/JtA mid-career training programme at iicA, Manesar on 3rd and 4th september 2012

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school of competition Law

The School of Competition Law imparts foundational as well as advanced training to officials of government departments, public sector enterprises, regulatory institutions, private enterprises and other practitioners of competition law through seminars, workshops and training programs. Synergized partnerships with premier academic and professional organizations in India and abroad are also entered into for this purpose.

poLICY ReseARCH And dIALoGue

The following events were organized for the purpose of generating public opinion in and interest and awareness about the Indian Competition regime:

roundtable on facilitating Corporate Growth through enlightened regulation december 12th, 2012

A ‘Roundtable Conference on Facilitating Corporate

Growth through Enlightened Regulation’ was held by IICA in association with the George Washington University Law School, US India Business Council (USIBC) and the Centre for Global Regulators Cooperation, to further its goal of capacity building for improved corporate regulation. The inaugural session of the roundtable conference was followed by four separate sessions on- Competition Law, Intellectual Property Law, Banking Law and FDI.

The discussions of the participants invoked several insightful opinions on the rationalizing and harmonising of the existing regulatory framework and structure for the facilitation of economic and corporate growth and its transformation into a meaningful, sustainable, constructive and sensitive towards social and public interests. roundtable discussion on infusion of competition in indian economy

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Prominent experts from the US such as Prof. William Kovacic, a renowned Anti-Trust Authority; Judge Kent Jordan; Judge Paul Singh Grewal; Jeffery Manns and Susan L. Karamanian from George Washington University addressed the Round Table. Indian dignitaries such as Mr. Ramesh Adige, Former Executive Director, Ranbaxy; Ms. Pratibha Singh, well-known IP lawyer; Mr. C.M. Vasudev, Former Finance Secretary; Mr. Gajendra Haldea, Adviser to Dy Chairman, Planning Commission; Ms. Pallavi Shroff, eminent Competition Lawyer; Mr. N K Sabharwal, Former Deputy Director General, WIPO; Mr. Rajeev Uberoi, General Counsel, IDFC and Bharat Anand, leading M & A Lawyer addressed the participants.

Roundtable discussion on infusion of competition in the Indian economy

March 12th, 2013

An intense day long policy discussion and interaction was organized by the School of Competition Law at the Scope Complex, New Delhi in the context of post reforms evolving competition regime in India.

A committee was appointed by the Ministry of Corporate Affairs, Government of India, in June 2011, to draft a National Competition Policy for a systematic approach towards

the issue of addressing ‘Law/Policy induced competition distortions’. Thirteen sector studies were commissioned by the Ministry through the Indian Institute of Corporate Affairs (IICA), assisted by CUTS Institute of Regulation and Competition (CIRC).

This Roundtable was organized to put forward to and deliberate upon the findings of these studies with the relevant Government Ministries and Departments. The larger aim of the Roundtable was to assist Government Ministries and Departments in addressing such competition distortions.

The event was attended by senior officials of the Government who interacted with researchers on the findings relating to competition distortions in select sectors.

CApACItY BuILdInG

discussing emerging trends in India and the world in Corporate Governance14th december 2012

Deliberating various contours of corporate regulation, experts at a High Level Roundtable agreed that new age corporate regulation has to be growth oriented, transparent and inclusive. The Roundtable, organized by Indian Institute of Corporate Affairs under the Ministry of Corporate Affairs and George Washington University, brought together judges, lawyers, researchers, industry professionals and policy makers from USA and India to discuss contemporary issues in corporate regulation. The event was supported by US India Business Council.

The session examined and compared trends within and outside India, and specific topics examined from this comparative perspective were banking law, competition law,

dr. Bhaskar chatterjee, dG & ceo, iicA with Prof. r. Venkatarao, Vice chancellor, nLsiu

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intellectual property law, and foreign direct investment.

The purpose of the workshop was to enhance the mutual understanding of the Indian and US legal systems with regard to important issues relating to corporations.

signing of the Memorandum of understanding with the nLsIu, Bengalurudecember 28th, 2012

The partnership with the National Law School of India University, Bengaluru with the IICA was a landmark step towards strengthening the capacity building initiatives of the School of Competition Law housed in the latter.

The IICA signed the MoU on Dec 28, 2012 at the Bhabha Chamber, SCOPE Complex, New Delhi. Under

the partnership, both the institutes will undertake cutting edge research and roll out innovative courses to meet the contemporary knowledge and skill needs of stakeholders in the areas of competition policy and law, economic regulation, corporate social responsibility, corporate laws and finance

among others.

The MoU was signed by Dr. Bhaskar Chatterjee, Director General and CEO, IICA and Prof. R Venkata Rao, Vice Chancellor, National Law School of India University.

IICA-CCI-oeCd training course on competition Assessment January 22nd-23rd, 2013

In order to further its goal of capacity building for improved corporate regulation, the School of Competition Law hosted a two-day training workshop on Competition Assessment on January 22nd and 23rd, 2013 at the SCOPE Complex, New Delhi. The course was designed to promote ‘thinking about competition’ during policy propositions, policy formulation and decision

making process. The workshop was jointly organized by the IICA, the CCI and the Organisation for Economic Co-operation and Development (‘OECD’) and sponsored by the Nathan Inc as the knowledge partner.

Contemporary sector-specific issues were deliberated extensively from a competition law and policy perspective. The training session focused on the relevant issues relating to conduct of Competition Impact Assessment and sought to deliver an understanding of the institutional reforms and capacity building interventions needed to address the conceptual, financial, logistic and administrative constraints in adopting competition assessment in the Indian governance system.

The participants included senior government executives from several ministries and government departments as well as representatives and officers of the regulators, competition lawyers and professionals.

shri dhanendra Kumar addressing the participants of the IICA-CCI-oeCd training

iicA-cci-oecd course on competition As sessment : Panel of speakers

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Participants of two-day residential training programme for company directors

two-day residential training programme for Company directors

8th and 9th March 2013

A two-day residential training programme was conducted jointly by IICA and The Institute of Cost Accountants of India (ICAI) for company directors on 8th and 9th March, 2013 at Manesar. The training focused on the Corporate Governance Code, both in public and private sector. The programme aimed at building capabilities and developing skills and knowledge essential for Directors to have in order to contribute effectively to the board’s functioning. Directors and senior officials from various Public Sector Units (PSUs) and from various domains participated in the two-day residential programme

two-day national Workshop on nVGs at Chennai

4th and 5th January 2013

A two-day National workshop on National Voluntary Guidelines (NVGs) on Social, Environmental and Economic Responsibilities of Business was held in Chennai on 4th and 5th January, 2013. Attended by around 20 participants, the objective of the workshop was to develop an understanding of the principles stipulated in the NVGs and to discuss the

issues in the implementation of NVGs.

The workshop was jointly organized by the Indian Institute of Corporate Affairs (IICA), School of Corporate Governance and Public Policy and the Centre for Responsible Corporate Governance in collaboration with the Institute of Cost Accountants of India.

sCHooL of CoRpoRAte

GoVeRnAnCe & puBLIC

pARtneRsHIp

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Conference on Responsible Business Conduct on december 10th, 2012 at the oberoi, new delhi

Round table Conference

24th January 2013

A consultative paper on Review of Corporate Governance (CG) Norms in India was released by SEBI , with the intention of aligning the corporate governance code under Clause 49 of the listing agreement to the provisions in the new Companies Bill 2012. It was expected that the proposals, if implemented, would help companies be more transparent and accountable and would protect the interest of non-controlling shareholders and other stakeholders.

In this context, IICA held a Round table Consultation with some leading stakeholders to provide valuable inputs for this paper to understand the implications and implementation of the proposals in the Indian business environment. Around 30 stakeholders were invited to deliberate upon the issues.

Conference on Responsible Business Conduct

10th december 2012

The Indian Institute of Corporate Affairs (IICA) in association with the UK Department of Business Innovation and Skills (BIS) and UK Department for International Development organized a conference on Responsible Business Conduct on December 10, 2012 at The Oberoi, New Delhi. The conference was divided into three sessions

that dealt with NVGs and OECD; Business Responsibility- The Indian Experience; and The Role of the NGOs in Business Responsibility in India.

session in progress during training of Kishangarh traders

Head of Centre for BI & It services at the AssoCHAM entrepreneurship summit

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session in progress during training of Kishangarh traders

Head of Centre for BI & It services at the AssoCHAM entrepreneurship summit

developing a Roadmap for sustainable Growth for sMes of Kishangarh1st & 2nd March 2013

Indian Institute of Corporate Affairs (IICA) organized a workshop on the business sustainability tools for SME cluster of marble manufacturers and traders of Kishangarh on 1st March, 2013. This was followed by a consultation on 2nd March, 2013. Global Investment Banking Company Madison Street Capital facilitated the workshop. The pilot training was jointly conducted with MSCI on 1st March followed by consultation to interested company owners on 2nd March 2013. Many Government schemes like the National pension scheme for informal labour, the CSR inclusion in New Companies Bill, need for environment conservation, need for Vocational training for creating more skilled workforce, need for right business plan and developing organizational

goals were discussed and emphasized. Revenue of 5 Lcs was recovered from the event.It Infrastructure for IICAThe Center for Business Innovation and Information Technology , apart from streamlining IT inventory allocation for various departments and upgrading the bandwidth to 10 mbps has also achieved the following:l The network diagram for

IICA has been developed in consultation with NBCC consultant and capital works and assets requirement has been submitted.

l Network and switching hardware for set-up phase of KMS has been planned and is being procured.

l Cabling, testing and set up expedited to facilitate residency and admin block functioning.

lIn addition to this, the following have been computerized:

lIICA Visitor and Dak registry l A complaint register

l Library Management System

l Online Delivery Management System and

Daily Attendance Record sheet.

engaging external stakeholdersThe Head- Centre for Business Innovation and IT Services has been carrying forward the message of the Centre through several engagement with external stake holders. lHindustan and Star Plus,

on Financial Planning for Women

lAnsal University, on Innovative Management Practices for Global Competitiveness

lWorld Association for SME, on ESR- Learning from CSR

lAssocham Entrepreneurship Summit, on Building a sustainable strat-up in India with focus on MCA21.

lBimtech Marketing Summit on CSR in India: the New game changer

lDelhi Government on Settling e-waste

CenteR foR BusIness InnoVAtIon And It

seRVICes

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sachin pilot & Corporate India exchange views on CsR

4th december 2012

The Ministry of Corporate Affairs organized an Interactive Session on Corporate Social Responsibility (CSR) on 4th December 2012, at Vigyan Bhavan, New Delhi. The session took place with Shri Sachin Pilot, Hon`ble Minsiterof Corporate Affairs, Ministry of Corporate Affairs Shri Naved Masood, Secretary, Ministry of Corporate Affairs and corporate leaders.

Shri Sachin Pilot met the leaders of the corporate world at Vigyan Bhavan and presided over the well-attended meeting of industry leaders of the country, senior officials of the Ministry of Corporate Affairs and the Indian Institute of Corporate Affairs. The discussion in the meeting centred on issues relating to the Corporate Social Responsibility (CSR).

delhi Hosts Business consultation on status of Affirmative Action in Bse-Listed Indian Cos

28th february 2013

Partners in Change, in coordination with Christian Aid and the Indian Institute of Corporate Affairs (IICA), organized a business consultation on February 28th, 2013 at India International Centre, New Delhi. The half-day workshop was conducted to discern pragmatic and operational ways forward for Indian companies to integrate proactive Affirmative Action (AA) policies and practices.

The consultation was divided into three parts: An introductory session with Mr. B. Muthuraman as the guest speaker, a panel discussion with five companies demonstrating

good practices in AA, and a breakout session on six themes regarding AA implementation

strengthening ties through Mous with institutions

The Indian Institute of Corporate Affairs (IICA), Manesar signed a Memorandum of Understanding (MoU) with the Madison Street Capital India Pvt. Ltd. (MSCI), an international investment banking company, on January 24th, 2013 for a period of two years. Through this MoU, IICA proposes to establish academic collaboration with MSCI to reach out to industry clusters, conduct TNA and deliver trainings, and connect to mainstream investors for

CenteR foR InstItutIonAL pARtneRsHIps

And CoRpoRAte CoMMunICAtIon

(Ip&CC)

signing of Mou with Madison street Capital India pvt. Ltd.

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sustainable projects and seeks to promote the institutional collaborations.

An MoU was also signed between the Indian Institute of Corporate Affairs (IICA) and KPMG on March 14th, 2013 under which KPMG will provide complete end-to-end services to IICA in the context of CSR.

Awarding of porter prize

28th september, 2012

Institute for Competitiveness (IFC), India pioneered over the last 25 years by Professor M.E. Porter of the Institute for Strategy and Competitiveness, Harvard Business School (ISC, HBS), USA was entrusted with

the organization of the Porter Prize. The award recognizes the strategic acumen of the corporate sector in India and is instituted in honour of the renowned philosopher; thinker, Harvard faculty member and Father of the modern strategic field, Professor Michael E. Porter.

IICA joined hands with IFC as an Award Partner for the Porter Prize, specifically in the Award Category – Creating Shared Value. Shared value is defined as policies and operating practices that enhance competitiveness while simultaneously advancing social conditions in

communities. The event took place on 28th September 2012 at the Leela Kempinski, Gurgaon.

iicA newsletter-corporate odyssey launched

1st January 2013

IICA’s quarterly newsletter – Corporate Odyssey, was successfully launched by the Centre with the aim of strengthening the brand image of IICA in the corporate affairs ecosystem. It is also oriented towards providing a platform for exchange of views and deliberations among different players in the field of corporate affairs. The first issue of the newsletter covering the last quarter of 2012 was released on January 1st, 2013.

iicA corporate film produced by nfdC

A short corporate film of 7 mins has been created in partnership with the National Film Development Corporation under the IICA-NFDC MoU. The film showcases a better insight into the institute’s mission, vision and primary areas of operation.

dr. Bhaskar chatterjee with Mr. deepankar sanwalka, ed & head - risk consulting Practice, KPMG

Panel of speakers at the consultation on status of Affirmative Action

Awardees and dignitaries at the Porter Prize Award function

26

CentRe foR ResponsIBLe CoRpoRAte

GoVeRnAnCe

one-day seminar on Contemporary Issues in the Corporate sector

11thMarh 2013

45 participants from Indian Institute of Public Administration, New Delhi, visited the IICA Manesar Campus on 11th March, 2013. The Centre for Responsible Corporate Governance, organized a one day seminar on Contemporary Issues in the Corporate Sector for the benefit of the visiting officers, who are senior civil servants of Govt. of India.

Conference with Governance sustainability environment (Gse), uK

19th-20th March 2013

The Centre for Responsible Corporate Governance had a

detailed conference with the Governance Sustainability Environment (GSE), Leading Publishers from UK, regarding collaborating in the areas of Cooperation, Management, Sustainability, Social Responsibility, Responsible Leadership and also possibility of entering into a collaborative agreement. The team from GSE, visited our Lodhi Road office and Manesar Campus on 19-20th March, 2013.

national conferences on Companies Bill 2012

december 2012-february 2013

The Centre for Responsible Corporate Governance (IICA) in collaboration with Corporate Knowledge Foundation, organized the first National Conference on Companies Bill 2012 on 28th December, 2012 at The Indian Habitat Centre, Delhi. Divided into five sessions, the event was attended by around 93 participants. Proving to be a significant learning platform highlighting key elements

of the Companies Bill 2012 , the conference ended on a high note.

The 2nd National Conference on the Companies’ Bill 2012 was held

Lighting of the lamp at the 2nd national conference on companies Bill 2012

27

in Mumbai on 11th January, 2013. It was organized by IICA in collaboration with Corporate Knowledge Foundation. Dr. Bhaskar Chatterjee, DG and CEO, IICA, addressed the conference along with several other eminent speakers. Around 93 participants attended the conference.

New Companies Bill : Paradigm shift for Corporate India, Hotel Taj Vivanta , M G Road, Bangalore, the third conference, was held on 12thFeb.2013 in collaboration with ASSOCHAM. The theme address of the seminar was given by Prof. P R R Nair, Head Centre for Responsible Corporate Governance; the conference was presided over by Prof. R. Venkata Rao, Vice-Chancellor, National Law School of India University, Bangalore. The first and second conferences were held in collaboration with the Corporate Knowledge Foundation, Delhi.

Conference on Corporate Governance -“Inspiring confidence in indian Business”

12th september 2012

A conference on Corporate Governance was organized by IICA on Wednesday, 12th September, 2012 in New Delhi, focusing on the challenges of staying legally compliant in India, especially for the small and medium enterprises. The public launch of the Legal Compliance Manual (LCM) was held in this conference and a study report on the ‘State of Corporate Governance in India’ was also released during the function held at Hotel

Meridien, Janpath, New Delhi.

Developed and enhanced by Intel as a part of the MoU between IICA and Intel, the LCM summarizes the legal compliance obligations relevant to Intel’s business. The study on the ‘State of Corporate Governance in India’ whose report was released that day, was conducted by the IICA in partnership with the Indian Institute of Management Calcutta (IIMC) and Thought Arbitrage Research Institute (TARI).

companies Bill 2012 document as presented to the Loksabha in anticipation of the companies Act

dignitaries at the Mumbai Conference on 11th January 2013

28

dignitaries at the 6th national Management convention, Bhuvaneshwar on 22nd & 23rd february 2013

nAtIonAL foundAtIon foR

CoRpoRAte soCIAL ResponsIBILItY

one-day seminar on Corporate sustainability Practices and inclusive Growth

1st June 2012

A one-day seminar on Corporate Sustainability Practices and Inclusive Growth organized by Indian Chemical Council jointly with the Indian Institute of Corporate Affairs was held on Friday, 1st June 2012 at India Habitat Centre, Lodhi Road, New Delhi. The objectives of the day long workshop were to understand the challenges in the implementation of the NVGs, how can disclosure practices may be built, the selection, identification and strengthening of stakeholder engagement, Affirmative Action, inclusive growth and best practices of the ICC award winning companies.

third CsR Conclave: private sector Perspective

8th June 2012

Third CSR Conclave: Private Sector Perspective was held on Friday, 8th June, 2012at the Hall of culture, Nehru Centre, Worli, Mumbai. Yes Bank was the partner for this event. The objective of this conclave was to create awareness about CSR and to take forward the government’s agenda of ‘inclusive growth’. The Hon’ble Minister for Corporate Affairs, Dr. Veerappa Moily was the Chief Guest of the Conclave.

Round table with unICef on ‘child survival call to Action’

21st december, 2012

The ‘Child Survival Call to Action’ initiative was launched in Washington DC by the Governments of Ethiopia, India and the United States, together with UNICEF and USAID to channelize efforts in the 24 countries that account for 80 per cent of under-5 deaths. More than 150 countries have signed up for this Call to Action. During 2011-12 as per the UNICEF data, three children under the age of five years died

29

dignitaries at the 6th national Management convention, Bhuvaneshwar on 22nd & 23rd february 2013

IICA session during the Hi-power workshop on CsR in Mumbai on 25th february

Prof. c.V. Mani addressing the delegates of the convention

every minute in this segment, which ranks as the highest in the world. In this context engagement and collaborating with the private sector has emerged as important avenue to achieve Child Survival goals in India.

The Ministry of Health and Family Welfare constituted a steering committee for ‘Child Survival Call to Action’ as its commitment to this programme until 2035. UNICEF has been assigned as the Convener of the Private Sector Engagement sub-committee to coordinate private sector’s inputs into the overall country plans to tackle child mortality.

The Indian Institute of Corporate Affairs, a key member of this sub-committee, organized a ‘Roundtable Discussion’ to share more details on the status of Child Survival in India, the ‘Call to Action’ and invited participation and thoughts on the role of the corporate sector on this initiative. The corporate roundtable was held in New

Delhi on Friday 21stDecember, 2012.

CsR Live Week

20- 21 november 2012

CSR live week was held at the World Trade Centre, Cuffe Parade, Mumbai on 20-21 November 2012.This first CSR Live Week was held at Delhi – NCR on the 20th-21st March ‘2012.

The key objective of the CSR Live Week was to educate public at large about sustainability& social responsibility and bring the entire sustainable and social responsible corporation onto one single platform.

Corporations and their Foundations such as Aditya Birla Group, Tata Steel, Tata Motors, Tata Power, JSPL, RPG , Shell Foundation , Piramal Foundation , Raymonds , Essar Foundation , Maruti Suzuki, GVK, Dow, Max Foundation , Apollo Hospitals’s BHB Foundation , Wockhardt, MSPL - Baldota Group , Indian Oil,

ITCOL, FICCI, Sahara India etc. were on board to showcase their CSR and Sustainability efforts.

Workshop on creating shared Value through Corporate social Responsibility

7 november 2012

The Indian Institute of Corporate Affairs in collaboration with the World Bank and the European Union organized an orientation workshop entitled Creating Shared Values through Corporate Social Responsibilities in India. The workshop took place on November 7, 2012 at The Park, 15 Parliament Street, New Delhi.

Aimed at introducing the concept of strategic CSR (corporate social responsibility) and shared values, the workshop played a key role in increasing the awareness about different CSR and shared value approaches for maximum impact.

30

CsR Roundtable with, Mep and CsR Rapporteur for the european parliament

24th september, 2012

The Indian Institute of Corporate Affairs (IICA) and Centre for Responsible Business (CRB) jointly organized a short roundtable on 24th September in New Delhi, inviting very select people to engage and share with Mr. Richard Howitt, MEP and CSR Rapporteur for European Parliament, perspectives on CSR in India, and also to hear from him the European Parliament and business’ perspective on CSR.

international conference on socially responsible products and services for sustainable Asia and beyond

18th -19th october 2012

SR Asia is a network of professionals and certified practitioners in the domain of “Social Responsibility”. In partnership with IICA, SR Asia, organized an International

Conference on 18th and 19th October 2012, at the India International Center, New Delhi. The main theme of the conference was “Socially responsible products and services for sustainability”.

SR Asia is an International organization predominant in Asian countries creating bench marks and new standards in the field of SR. SR Asia has foot prints in more than eleven countries and follows the principle and approach of AOP Japan and NPOs of its member countries.

6th national Management convention

22nd-23rd february 2013

The sixth National Management Convention on “Corporate Social Responsibility in India: Taking the Next Leap Forward” was held on 22nd and 23rd February, 2013 at Kalinga School of Management (KSOM) Auditorium, Bhubaneswar. The convention concentrated on the issues and

challenges in addressing the inherent paradox of sustaining performance and integrity in Corporate Social Responsibility (CSR) activities in India.

Hi-power Workshop on CsR concept- implementation-reporting

25th february 2013

IICA, in association with Greentech Foundation, a Delhi-based non-profit organization, conducted a workshop on Corporate Social Responsibility (CSR) on February 25th, 2013 at The Orchid, Mumbai. The workshop, attended by 51 participants from the corporate world and the Public Sector Units (PSUs), focused on aspects including the CSR concept, its implementation and reporting in the Indian context.

31

LIBRARY - KnoWLedGe ResouRCe CentRe

Access to information both specific and general, across disciplines and geographical borders plays a very critical role in supporting the academic programmes of any educational institute, leading to the role of libraries as Knowledge Resource centres. A library identifies, evaluates, procures, processes knowledge resources and then makes these learning/knowledge resources available to the faculty and students for their teaching, learning and research assignments.

Mission

The mission of the IICA Knowledge Resource Centre (KRC ):-

• To provide its users the information they need in the minimum amount of time and the most effective manner.

• To provide users with accurate information enabling the Institute to achieve excellence in teaching, learning, research, and community

services.

• To achieve the highest academic potential and help the users’ to acquire research skills necessary for lifelong learning.

• To participate in cooperative information exchange within the wider libraries and other educational community.

The Knowledge Resource Centre (KRC) of the Indian Institute of Corporate Affairs at IMT, Manesar has been primarily designed to meet the requirements of the academic and training programmes of the schools and centres. It has a collection of approximately 2500 volumes of books and other publications. These publications include training materials & modules, annual reports, regulatory acts, informative articles and technical write-ups, among others. The KRC is designed to subscribe to and subsequently provide access to online full text journals. Classified under the DDC 23 method, the resources of the IICA KRC

are acquired on demand and on expert approval, thereby ensuring both the quality of publication and its relevance to the subject. .

The resources are available in digital format listing to ensure ease of manageability and classification. In addition to the qualified professionals who deal with the functioning of the library, aided by support staff and IT consultants, in accordance with the practice, of an operational manual containing all rules, regulations and procedures, a draft “Library Manual” and Strategic plan has been prepared for the smooth functioning of the KRC. The manual identifies all crucial functional modules and delineates a clear policy on the modality of the activities of the library such as collection, development, provision of information services, management of other academic support facilities etc.

Vision

A world-class Institute i.e. IICA needs a world-class library at the centre of the Institute,

32

while maintaining key facilities at other locations. Set out below is the vision for such a library at the Institute.

• A hybrid structure that includes physical stock and electronic resources. Information resources tending to be progressively more digitised.

• Unique user-centric experience, encompassing facilities that encourage study, dialogue, discussion, dissemination and reflection.

• A repository for primary research data, as well as electronic publications, through e-prints service that provide global access.

• Provider of research and learning materials. In order to support the academic ambitions of the Institute, the library’s acquisition policy will include collaboration with other resource providers including provision through

the Research Information Network.

• A repository of appropriate tools, services and training to enable users irrespective of where they are, to identify, access, evaluate and use the resources they need.

• An accessible resource centre for research and scholarship by Institute members, visiting researchers and other bonafide users.

two-day Book fair

A two-day book fair was organised by the Knowledge

Resource Center of IICA on the 7th - 8th of March 2013. Apart from the opportunity of selection of titles of the highest order across global publications, the visitors also had the opportunity to share online databases opening up possibilities for further and future buying of books.

Several vendors and publishers including EBSCO, Asian Book Center, TAXMANN, Bharat Book Bureau, Technomech Books International, Sage Publications, Oxford Publications and Ambika Books Agency among others, participated in the event.

dr. Bhaskar chatterjee, dG & ceo, iicA at the book fair on 7th - 8th March 2013

33

dr. Bhaskar chatterjee, dG & ceo, iicA at the book fair on 7th - 8th March 2013

draft framework for disclosure presented to Hon’ble Minister MCA

Ministry of Corporate Affairs had set up a Disclosure Framework Group for drafting of the Disclosure Framework for BR and the draft framework was presented to the Hon’ble Minister on 18th April 2012 for approval. This reporting framework should be able to capture basic details of the activities of the companies in certain specific areas and should also encourage the companies to become more transparent in their stakeholder engagement process. This would be in the format of an electronic form to be put up on MCA 21, the

e-governance platform of the ministry.

national Policy forum on Promoting Business Responsibility in the Pharmaceutical and the private Healthcare sectors

CUTS international has been instrumental in providing a forum for consumer sovereignty in the framework of social justice and equality, within and across borders. In association with the Indian Institute of Corporate Affairs CUTS- international, organized the National Policy Forum on Promoting Business Responsibility in the Pharmaceutical and the Private Healthcare Sectors on October 8, 2012

in New Delhi. The agenda was to consider facilitation of implementation of the National Voluntary Guidelines on Social, Environmental and Economic Responsibilities of Business (NVGs) introduced by the Ministry of Corporate Affairs.

As a prelude to this National Forum, the first stakeholder dialogue was held on the 30th August, 2012 in Shimla. The other three stakeholder dialogues were held in Ahmedabad, Kolkata & Hyderabad on 9th, 14th & 25th of September respectively.

InteRnAtIonAL pRoJeCtGIZ

33

34

stAffInG

Post/ PositionICLs ACAdeMY1. Sh. S.K. Aggarwal Director2. Shri J. K. Jolly Joint Directorschool of competition Law1. Shri Dhanendra Kumar Principal Advisor2. Dr. Navneet Sharma Head of School & Associate Professor

school of finance1. Dr. Gourav Vallabh Head of School & Professor2. Shri Jyoti Prakash Gadia Consultant (Honorary)school of Corporate Governance & public policy1. Dr. Ashish K. Bhattacharyya Head of School & Professorcentre for Business innovation and it services1. Ms. Divya Rajput Head of Centrecentre for institutional Partnerships and corporate communications1. Shri Atul Dev Sarmah Head of Centre2. Ms. Chetna Kaura Sr. ConsultantCentre for Responsible Corporate Governance1. Prof. P.R.R. Nair Head of Centrenational foundation for corporate social responsibility (nfcsr)1. Ms. Gayatri Subramaniam Sr. Consultant2. Ms. Chetna Kaura Sr. Consultant3. Shri Nikhil Pant Sr. ConsultantLibrary1. Ms. Lata Suresh LibrarianHR department1. Shri R. Sitaraman Manager HR & CAOAdministration department1. Shri A. K. Ralhan Admin. Officer & Assistant Manager HR2. Shri B. K. Malhotra Admin. Officerfinance department1. Shri S. L. Taneja Finance Officer2. ShriLalit Kumar Finance. Officer

35

fInAnCe And ACCounts

1. During the year Grant-in-Aid amounting to Rs. 800 lakhs was received from the Ministry of Corporate Affairs.

2. M/s Vipin Aggarwal & Associates were reappointed as Statutory Auditors for the Financial year 2012-13

3. M/s SPG Associates were appointed as Internal Auditors for the financial year 2012-13.

4. The Annual accounts for the Financial year 2012-13 duly compiled were submitted to the Statutory Auditors. The Statutory Auditors audited the accounts and submitted their report. There are nIL comments from the statutory Auditors.

5. The Budget estimates for the year 2012-13 duly compiled were approved by the Board of Governors.

6. Certificates with respect to the utilization of Grant-in-aid received from the ministry of Corporate Affairs were furnished well before the due date.

36

20132012

AudIted ACCounts foR tHe YeAR

37

We have examined the Balance Sheet of Indian Institute of Corporate Affairs, Society as at 31st March, 2013 and the Income & Expenditure Account for the year ended on that date which is in agreement with the books of account maintained by the said Society. These financial statements are the responsibility of the management and we have been informed that the same were approved by Audit Committee. Our responsibility is to express an opinion on these financial statements based on our audit. We conducted our audit in accordance with auditing standards generally accepted in India. These standards require that we plan and perform the audit to obtain reasonable assurance whether the financial statements are free of material misstatement. An audit includes examining on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates by management, as well as evaluat-ing the overall financial statement presentation. We believe that our audit provides a reasonable basis for our opinion.

We report that: i) We have obtained all the information and explanations which to the best of our knowl-

edge and belief were necessary for the purposes of our audit;ii) In our opinion, proper books of accounts have been kept by the Society so far as appears

from our examination of the books;iii) The Balance Sheet and the Income and Expenditure account dealt with by the report are

in agreement with the books of account;iv) In our opinion and to the best of our information and according to the explanations given

to us, the said accounts read together with the other notes and significant accounting policies, are in conformity with the accounting principles generally accepted in India and give a true and fair view: -

a) In the case of the Balance Sheet of the state of Affairs of the above named society as at 31st March, 2013 and

b) In the case of the Income & Expenditure account, of the excess of Income over Expenditure for the accounting year ended on 31st March 2013.

For Vipin Aggarwal & Associates Chartered Accountants FRN No.014454N

Vipin Aggarwal (Partner)Place: New Delhi Membership No. 016544Date : 27 September 2013

VIpIn AGGARWAL & AssoCIAtesCHARTERED ACCOUNTANTS

AUDITORS’ REPORT

E-4, Defence Colony,New Delhi - 110024Phone : 41552060, 24332643Telefax : 011-41551479E-mail : [email protected]

38

IndIAn InstItute of CoRpoRAte AffAIRsBALAnCe sHeet As At 31st MARCH, 2013

schedule As At 31st March,2013

As At 31st March,2012

CoRpus/CApItAL fund (Rs.) (Rs.)

Reserve and Surplus 1 41,082,783 55,648,777Current Liabilities and Provisions 2 26,746,565 31,192,411totAL 67,829,348 86,841,188AssetsFixed Assets 3 15,329,824 11,312,177

Current Assets, Loan and Advances etc. 4 52,499,524 75,529,011totAL 67,829,348 86,841,188

sIGnIfICAnt ACCountInG poLICIes And notes to ACCounts

9

for IndIAn InstItute of CoRpoRAte AffAIRs

CHIEF ADMINISTRATIVE OFFICER DIRECTOR GENERAL & CEO

As per our separate report of even date FOR VIPIN AGGARWAL & ASSOCIATES CHARTERED ACCOUNTANTS FRN NO.014454N

Vipin Aggarwal (Partner)Place : New Delhi Membership No.016544Date : 27.09.2013

39


InCoMe And eXpendItuRe ACCount foR tHe YeAR ended 31st MARCH, 2013

schedule Year ended 31st March,2013

(Rs.)

Year ended 31st March, 2012

(Rs.)InCoMe Grant and Funding 5 81,016,200 34,113,880 Interest Earned (Net) 4,322,894 2,489,989 Other Income 112,117 1,332

totAL (A) 85,451,211 36,605,201

eXpendItuRe Educational Training Programmes 6 13,904,067 7,601,515 Establishment Expenses 7 30,505,594 13,721,031 Operational and Administrative Expenses 8 49,225,421 24,386,087

totAL (B) 93,635,082 45,708,633

suRpLus BefoRe depReCIAtIon (A-B) (8,183,871) (9,103,432)Depreciation 3 3,449,746 3,136,790

suRpLus AfteR depReCIAtIon (11,633,617) (12,240,222)Prior Period Expenses 2,932,377 1,111,232 BALAnCe CARRIed to GeneRAL fund (14,565,994) 13,351,454

sIGnIfICAnt ACCountInG poLICIes And notes to ACCounts

9

for IndIAn InstItute of CoRpoRAte AffAIRs

CHIEF ADMINISTRATIVE OFFICER DIRECTOR GENERAL & CEO

As per our separate report of even date FOR VIPIN AGGARWAL & ASSOCIATES CHARTERED ACCOUNTANTS FRN NO.014454N

Vipin Aggarwal (Partner)Place : New Delhi Membership No.016544Date : 27.09.2013

40


sCHeduLes foRMInG pARt of BALAnCe sHeet As At 31st MARCH, 2013

sCHeduLe (1) ReseRVes And suRpLus As At 31st March,2013


(Rs.) (Rs.) General Reserve:

Opening Balance 55,648,777 69,000,231 Less: Excess of Expenditure over Income during the year

(14,565,994) (13,351,454)

totAL 41,082,783 55,648,777

sCHeduLe (2) CuRRent LIABILItIes And pRoVIsIons As At 31st March,2013


(Rs.) (Rs.) current Liabilities:

Payables -- 49,635 Statutory Liabilities 839,065 152,357 Book Overdraft 3,125,176 20,928,533 Other Current Liabilities 22,782,324 10,061,886

totAL 26,746,565 31,192,411

CHIef AdMInIstRAtIVe offICeR dIReCtoR GeneRAL & Ceo

seal VIpIn AGGARWAL & AssoCIAtes

CHARteRed ACCountAntsMembership no.016544

frn no.014454nnew delhi

41

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42


sCHeduLes foRMInG pARt of BALAnCe sHeet As At 31st MARCH, 2013

scheduLe (4) current Assets , LoAns And AdVAnces As At

31st March,2013(Rs.)


(Rs.)Bank Balances : Bank of India -Term Deposit (A/c No. 604810210000007) 25,480,000

Bank of India -Term Deposit (A/c No. 604810210000009) 10,749,000

Bank of India - (A/c No. 604810210000009) 25,521

Punjab National Bank - C A ( A/c No- 0128002100300784) 25,077

Punjab National Bank - S B ( A/c No- 0128000100602116) 11,263 36,290,861 66,393,303

Receivables 2,496,100 924,490

Loans & Advances:

Imprest Staff 559,709 162,666

Advances Other 1,768,515 3,628,915

Prepaid Expenses 673,919 577,924

Security Deposit 87,300 77,300

Cenvat Credit (Service Tax) 5,309,181 1,439,165

Advance to Service Providers 5,313,939 2,325,248

totAL 52,499,524 75,529,011





43


sCHeduLes foRMInG pARt of InCoMe & eXpendItuRe ACCountfoR tHe YeAR ended 31st MARCH, 2013

sCHeduLe (5)- GRAnt And fundInG Year ended31st March, 2013

Year ended31st March, 2012

(Rs.) (Rs.)

Grant in Aids - MCA 80,000,000 30,000,000

Contribution in kind-Ministry of Youth Affairs and Sports - 3,763,880

Funding Received - 350,000

Course Fee -Workshop/Seminars 1,016,200 -

totAL 81,016,200 34,113,880

scheduLe (6)- eXPenditure of educAtionAL trAininG ProGrAMMe


(Rs.)


(Rs.)

Event Management Charges 15,118 82,345

Faculty Charges 3,347,400 1,854,517

Conveyance 241,800 122,900

Study & Research Expenses 4,150,498 270,600

Hire Charges 900,106 654,347

Other Expenses 244,329 328,137

Printing & Stationery 540,073 652,183

Refreshment Expenses (Net) 3,395,242 2,847,807

Rent 29,214 377,344

Travelling Expenses 1,040,287 411,335

totAL 13,904,067 7,601,515





44


sCHeduLes foRMInG pARt of InCoMe & eXpendItuRe ACCountfoR tHe YeAR ended 31st MARCH, 2013

sCHeduLe (7)- estABLIsHMent eXpenses Year ended31st March, 2013

(Rs.)


(Rs.)

Retainership and Other Expenses 20,986,243 12,058,017

Salary 9,519,351 1,663,014

totAL 30,505,594 13,721,031

sCHeduLe (8)- opeRAtIonAL And AdMInIstRAtIVe eXpenses Year ended31st March, 2013

(Rs.)


(Rs.)

Auditors Remuneration 150,000 100,000

Bank Charges 22,666 8,369

Books & Periodicals 106,739 68,818

Conveyance 6,224,248 3,161,866

Facility Management Expenses 8,130,115 2,103,599

Office Expenses 3,543,792 826,795

Advertisement Expenses 242,638 -

Legal & Professional Charges 764,086 6,519,200

Meeting & Seminars 1,421,372 443,952

Membership & Subscription 89,053 16,458

Postage and Telephone Expenses 1,799,844 423,249

Printing & Stationary 2,384,971 1,253,452

Repair & Maintenance (Computer & Others) 10,630,016 3,549,400

Staff Welfare 224,103 138,617

Travelling Expenses (Domestic) 1,499,769 439,333

Travelling Expenses (Abroad) 1,506,793 668,941

Watch and Ward Expenses 3,487,897 2,017,180

Water and Electricity Charges 6,658,586 2,502,433

Website Development Expenses 338,733 144,425

totAL 49,225,421 24,386,087





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sCHeduLe - 9IndIAn InstItute of CoRpoRAte AffAIRs

sIGnIfICAnt ACCountInG poLICIes & notes foRMInG pARt of ACCounts

A. sIGnIfICAnt ACCountInG poLICIes i) Basis of accounting

a) The financial statements are prepared under compliance with the Accounting Standards issued by the institute of Chartered Accountants of India and relevant presentational requirements of the Central Autonomous Bodies.

b) Accounting Policies not specifically referred to are consistent and in accordance with generally accepted accounting principles.

ii) Government Grants/subsidies

Government grants/subsidies are accounted on realization basis

iii) fixed Assets

a) Fixed Assets are started at cost of acquisition inclusive of inward freight, duties and taxes are incidental and direct expenses related to acquisition.

b) Fixed Assets received by way of non-monetary grants, (other than towards the Corpus Fund), are capitalized at value stated, by corresponding credit to Capital Reserve.

iv) depreciation

Depreciation is provided on written down value (WDV) method as per rates specified in the Income Tax Act, 1961 except depreciation on cost adjustments arising on account of conversion of foreign currency liabilities for acquisition of fixed assets, which is amortized over the residual life of the respective assets.

v) Lease Lease Rentals are expense with reference to lease terms.

vi) Provision, contingent Liabilities and contingent assets

a) Provisions are recognized in respect of obligation where, based on the evidence available, there existence at balance sheet date is considered probable.

b) Contingent liabilities are shown by way of notes to the accounts in respect of obligation where, based on the evidence available, their existence at the Balance sheet date is considered not probable.

c) A Contingent asset is not recognized not probable.


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B) notes to ACCounts

a) In the opinion of the Associate Members, current assets, loans and advances have a value on realization in the ordinary course of activities, at least equal to the amount stated in the Balance sheet. Provisions for all known liabilities have been made in the accounts.

b) Previous. Year’s figures have been regrouped/ reclassified, whenever considered necessary to make them comparable with those of the current year.


As per our separate report of even date foR VIpIn AGGARWAL & AssoCIAtes CHARteRed ACCountAnts frn no.014454n

Vipin Aggarwal (partner)Place : new delhi Membership no.016544date : 27.09.2013

annual report - iicaiica.in/images/annual bok 13-02-2014-iind corrections.pdf · • general body...

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