37...37 th annual report 201617 3 auditors and bankers statutory auditors bansal, sinha & co....

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AnnualRe p o r t2016-17

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FUNCTIONSThe Institute • develops a cadre of Company Secretaries for ensuring

governanceandeffectivemanagement in corporates byregisteringstudentswith10+2andgraduatequalificationsfor Foundation and Executive Programmes of CompanySecretaryship Course respectively with course contentsin Law, Tax, Management, Accounting and Financedisciplines;

• providespostal/oral /web-based coaching and trainingenablingstudentstoqualifyasCompanySecretaries;

• conducts Company Secretaryship Examination twiceayear in JuneandDecember.During theyear2016, theCompanySecretaryshipExamination wasconducted atover200 centres spreadallover IndiaandanoverseascentreatDubai;

• arranges practical training for Executive/ ProfessionalProgramme pass Students with Companies/PractisingCompany Secretaries etc. empanelled with the Instituteforthepurpose;

• enrolsqualifiedpersonsasAssociate/FellowMembersoftheInstituteandissuesCertificateofPracticetomemberstakinguppractice;

• conducts Post Membership Qualification Courses forMembersoftheInstitute;

• publishes widely read and highly acclaimed monthlyJournal ‘CharteredSecretary’disseminating information,expeditiously;

• Bringsoute-bulletins-StudentCompanySecretaryandCSFoundationCourseBulletinforthebenefitofstudents;

• exercises supervisionover theMembersof the InstitutebothinpracticeandinemploymentinmatterspertainingtoProfessionalEthicsandCodeofConduct;

• undertakes research in Corporate Laws, CorporateGovernance, Management, Finance and Capital Marketdisciplinesandbringsoutresearchpublications;

• formulatesSecretarialStandardsandbringsoutGuidanceNotesthereon;

• renders expert advisory services toMembers/ IndustryonissuesrelatingtoCorporateLaws;

• organises Professional Development and ContinuingEducationProgrammes,International/National/RegionalConventions and Conferences directly or through itsRegionalCouncilsandChapters,ChambersofCommerce,RegulatoryAuthorities,SisterProfessionalInstitutesandotherProfessionalDevelopment/ManagementBodies;

• interacts with various National and Regional Chambersof Commerce with regard to Government Policies andLegislations;

o interacts with International, multi-lateral bodies /institutionswithregardtoissuesrelatingtoCorporateGovernance, Business Ethics, Sustainability andCorporateSocialResponsibility;

o interacts with Centre and State Governments onvariousissuesconcerningtheprofession;

o undertakesbenevolenceofmembers;• interacts with Members of Corporate Secretaries

InternationalAssociation(CSIA)andCompanySecretariesInstitutesinotherjurisdictions;

• bestowsICSINationalAwardforExcellenceinCorporateGovernancetobestgovernedcompanies;

• bestowsICSICSRExcellenceAward;• bestows ICSI Lifetime Achievement Award to eminent

corporate personalities for Translating Excellence inCorporateGovernanceintoReality;

• conducts Investor Awareness Programmes throughoutthe country on behalf of the Investor Education andProtectionFund,MinistryofCorporateAffairs;

• undertakes Research Projects on behalf of GovernmentanditsAgencies/Institutions.

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SECRETARIAT

S.No. NAME OF OFFICER DESIGNATION DIRECTORATE / OFFICES1. CSDineshChandraArora Secretary Secretariat2. Dr.AmitaAhuja JointSecretary

(SG)CorporateCommunication

3. Mr.AnkurYadav JointSecretary(SG)

StudentServices,GrievanceRedressalCellandSMASHProject

4. Dr.SudhirK.Dixit JointSecretary(SG)

Printing,Publication&Co-Ordination

5. CSAlkaKapoor JointSecretary CEODesignate(ICSI-IPA)6. Dr.SanjayPandey JointSecretary Examination7. Ms.MeenakshiGupta JointSecretary Discipline8. CSAshokKumarDixit JointSecretary Membership,RTI,CSBF&Law9. Mr.SKNagar JointSecretary HumanResourceandCouncilAffairs10. Mr.SudiptoPal JointSecretary StudentServices11. Mr.SameerGupta JointSecretary FinanceandAccounts

(IncludingTreasuryCell)12. Mr.BhubananandaPradhan Director InfrastructureandSpecialProject(Noida)13. Mr.MAJoseph Director Examination14. CSSoniaBaijal Director ProfessionalDevelopment,Perspective

Planning&Academics(IncludingPMQCell)15. Dr.RajeshKumarAgrawal Director ICSI-CCGRT16. Dr.SKJena Director TrainingandPlacement(IncludingIndustry

InteractionCell)17. Mr.AKSrivastava Director Administration&Purchase18. Dr.NikhatKhan Director InformationTechnology19. Ms.PreetiKaushikBanerjee Director CorporateCommunication20. Dr.PrasantSarangi Director Research(ICSI-CCGRT)21. Ms.BanuDandona JointDirector CorporateLaws&Governance22. Ms.SarahArokiaswamy RegionalDirector SouthernIndiaRegionalOffice23. Mr.AKRath Director SouthernIndiaRegionalOffice24. Mr.DVNSSarma RegionalDirector EasternIndiaRegionalOffice25. Mr.KCKaushik RegionalDirector WesternIndiaRegionalOffice26. CSAlkaArora RegionalDirector NorthernIndiaRegionalOffice

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AUDITORS AND BANKERSSTATUTORY AUDITORS BANSAL,SINHA&CO.

CHARTEREDACCOUNTANTS18-19,OLDRAJINDERNAGAR

NEWDELHI-110060

INTERNAL AUDITORS ASAP&ASSOCIATES

CHARTEREDACCOUNTANTS1,TEMPLECOMPLEX,SHIVMANDIR,

TILAKBRIDGE,NEWDELHI-110001

BANKERS CANARABANK,AXISBANK,ICICIBANK,CITIBANK,INDIANBANK,

SYNDICATEBANK,VIJAYABANK,KOTAKMAHINDRABANK

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THE INSTITUTE OF COMPANY SECRETARIES OF INDIA

HEADQUARTERS ‘ICSIHOUSE’,22,InstitutionalArea,LodiRoad,NewDelhi-110003

Tel:011-45341000,41504444Fax:011-24626727

‘ICSIHOUSE’,C-36&C-37,Sector–62,Noida–201309Tel:4522000Fax:4264443&4264445(STD:0120)E-Mail:[email protected]:www.icsi.edu

RESEARCH & TRAINING CENTRE ICSI-CENTREFORCORPORATEGOVERNANCE,RESEARCH&TRAINING

PlotNo.101,Sector-15,InstitutionalArea,PalmBeachRoad,CBDBelapur,NaviMumbai-400614

Tel:27577814-15/41021515Fax:27574384(STDCode:022)E-mail:[email protected]

REGIONAL COUNCILS/OFFICES AND CHAPTERS

1. EASTERN INDIA REGIONAL COUNCIL ‘ICSIHouse’,3-A,Ahiripukur,1stLane,Kolkata–700019Tel:22816541/22832973/22901065/22902178-79Telefax:22816542(STDCode:033)E-mail:[email protected] Chapters:Bhubaneswar,Dhanbad,Guwahati(NorthEastern),Hooghly,Jamshedpur,PatnaandRanchi

2. NORTHERN INDIA REGIONAL COUNCIL

ICSIHouse’,PlotNo.4,PrasadNagarInstitutionalArea,NewDelhi-110005Tel:49343000Telefax:25722662(STDCode:011)E-mail:[email protected] Chapters: Agra,Ajmer,Allahabad,Alwar,Amritsar,Bareilly,Bhilwara,Bikaner,Chandigarh,Dehradun,Faridabad,Ghaziabad,Gurugram,Jaipur,Jalandhar,Jammu,Jodhpur,Kanpur,Karnal-Panipat,Kota,Lucknow,Ludhiana,Meerut,Modinagar,Noida,Shimla,Sonepat,Srinagar,Udaipur,VaranasiandYamunaNagar

3. SOUTHERN INDIA REGIONAL COUNCIL ‘ICSI-House’,No.9,WheatCroftsRoad,Nungambakkam,Chennai-600034Tel:28279898/28222212Telefax:28268685(STDCode:044)E-mail:[email protected] Chapters:Amaravati,Bengaluru,Calicut,Coimbatore,Hyderabad,Kochi,Madurai,Mangalore,Mysore,Palakkad,Salem,Thiruvananthapuram,Thrissur,andVisakhapatnam

4. WESTERN INDIA REGIONAL COUNCIL 13,JollyMakerChambersNo.2(1stFloor)andNos.56&57(5thFloor)NarimanPoint,Mumbai–400021Tel:22047580,22047569,22047604,22844073,61307900Fax:22850109(STDCode:022)E-Mail:[email protected] Chapters :Ahmedabad,Aurangabad,Bhayander,Bhopal,Dombivli,Goa,Indore,Kolhapur,Nagpur,Nashik,Navi-Mumbai,Pune,Raipur,Rajkot,Surat,ThaneandVadodara

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REPORT OF THE COUNCIL1. INTRODUCTIONIn termsof the requirementsofSub-Section (5B)ofSection18oftheCompanySecretariesAct,1980, theCouncilof the InstituteofCompanySecretariesofIndiaispleasedtopresentitsThirtySeventhAnnual Report and audited statements of consolidated accountsalongwiththeAuditors’ReportthereonfortheyearendedMarch31,2017.Theprogrammesandactivitiesorganizedandinitiativestakensubsequenttotheaboveperiod,tillthedateofthisreporthavealsobeenincludedinthisreport.President and Vice-President CS(Dr.)ShyamAgrawalfromNorthernRegionandCSMakarandMLelefromWesternRegionwereelectedbytheCouncilasPresidentand Vice-President of the Institute respectively, w.e.f. January 19,2017.Council MeetingsTheCouncilheldsevenMeetingsduringtheyear.Composition of CommitteesThecompositionofvariousStandingandNon-StandingCommittees,ExpertGroups,AdvisoryBoardsandoutsideCommitteesisgivenatAppendix-A.DetailsofmeetingsheldandattendedbytheMembersaregivenatAppendix- B.Regional Councils and ChaptersContinuous updation of knowledge and capacity building of itsmembers is one of the prime responsibilities of the Institute.RegionalCouncilsandChaptersoftheInstituteacrossthecountrycontinuedtoprovidevaluablesupportandassistancetotheCounciland conducted their activities with enthusiasm and carried outtheir functionsandresponsibilitiesdiligently throughout theyear.In the process, they had conducted Professional DevelopmentProgrammes, Seminars, Workshops, Training Programmes,ManagementSkillsOrientationProgrammes,ClassRoomTeaching,Study Circle Meetings, Regional and State Conferences, CareerAwareness Programmes and investor awareness programmes. Inaddition,theyhavealsofocusedonareaslikeup-gradationoflibrarysystem, publication of news bulletins, assistance to themembersseeking placement and organizing campus placement and HRConclaves.Statistics at a GlanceTheregion-wisestatisticsofStudentsandMembersasonMarch31,2017isasunder:

Number of Members EIRC NIRC SIRC WIRC TotalAson31.3.2017 5334 18517 9361 16985 50197Ason31.3.2016 4592 15941 8562 14865 43960

NUMBER OF STUDENTS FOR REGULAR PROGRAMME NumberofStudents EIRC NIRC SIRC WIRC TOTALAson31.03.2017 32444 107410 56128 95578 291560Ason31.03.2016 38821 120000 57887 102090 318798

NUMBER OF STUDENTS FOR FOUNDATION PROGRAMMENumberofStudents EIRC NIRC SIRC WIRC TOTALAson31.03.2017 4622 15129 7924 15161 42836Ason31.03.2016 5975 22117 8659 19427 56178

ChaptersDuringtheyearunderreport,therewere69Chapters.Region-wiselocationsoftheChaptersaregivenhereunder:EAST:Bhubaneswar,Dhanbad,Guwahati(NorthEastern),Hooghly,Jamshedpur,PatnaandRanchi(Total: 7)NORTH :Agra,Ajmer,Allahabad,Alwar,Amritsar,Bareilly,Bhilwara,Bikaner,Chandigarh,Dehradun,Faridabad,Ghaziabad,Gurugram,Jaipur, Jalandhar, Jammu, Jodhpur, Kanpur, Karnal-Panipat, Kota,Lucknow, Ludhiana, Meerut, Modinagar, Noida, Shimla, Sonepat,Srinagar,Udaipur,VaranasiandYamunaNagar(Total: 31)SOUTH: Amravathi, Bengaluru, Calicut, Coimbatore, Hyderabad,Kochi, Madurai, Mangalore, Mysore, Palakkad, Salem,Thiruvananthapuram,ThrissurandVisakhapatnam(Total: 14)WEST: Ahmedabad, Aurangabad, Bhayander, Bhopal, Dombivli,Goa,Indore,Kolhapur,Nagpur,Nashik,NaviMumbai,Pune,Raipur,Rajkot,Surat,ThaneandVadodara(Total: 17)The Chapters are the extended arms of the Institute and theycontinuedtoimplementthepoliciesandguidelinesoftheInstituteand carry out various activities, some of which are conductingclass room teaching, arranging training for students, organizingprofessional and continuing education programmes, holdinginvestor awareness programmes, conducting career awarenessprogrammes , publishing newsletters and providing Libraryfacilitiestomembersandstudents.Best Regional Council and Chapter Awards for the Calendar Year 2015InordertorecognizethecontributionsmadebytheRegionalCouncilsandChaptersaswellastoencourageandtocreatecompetitivespiritamong them, the Council of the Institute had instituted the BestRegionalCouncilAwardandBestChapterAwards.Best Regional Council, Best National Chapter and Grade wiseBest Chapter Awards for the year 2015 were presented at the44th National Convention of Company Secretaries held at GandhiNagar,Gujaratasunder:

Best Regional Council Northern India Regional Council

Best ChaptersSl. No. Category Name of the

Chapter1 NationalBestChapter Hyderabad2 GradeA+ Hyderabad3 GradeA Indore4 GradeB Nagpur5 GradeC Bhubaneswar6 GradeD Visakhapatnam

2. INFRASTRUCTURE I) Institute’s owned premisesA) Head Office- NewDelhi(OneBuilding),HeadOfficeatNoida

(TwoBuildings);ICSI-CCGRTatNaviMumbai(OneBuilding).B) Regional Offices - EIRO, Kolkata; NIRO, New Delhi; WIRO,

Mumbai;andSIRO,Chennai.C) Chapters - Ahmedabad, Bengaluru, Bhopal, Bhubaneswar,

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Bhilwara, Dombivli, Faridabad, Ghaziabad, Goa, Hyderabad,Hooghly, Indore, Jaipur, Kanpur, Kochi, Lucknow, Madurai,Mangalore, Mysore, Nagpur, Patna, Pune, Surat, Thane,Vadodara.

II) Initiatives undertaken for improvement of InfrastructureA) Head office• Renovation / refurbishingwork of ICSI-HQ building at Lodi

Roadisinprogress.• Possessionoflandof24000sq.yds.atAjmerhadbeentaken

jointly by three Professional Institutes (PIs) from AjmerDevelopment Authority (ADA) for setting up of Centre ofExcellenceforQualityandEthics.

• ConstructionworkofCentreofExcellencehasbeencompletedandhasbeeninauguratedon16thSeptember,2017.

• Plot of 1.5 Acreswas purchased fromWest BengalHousingInfrastructureDevelopmentCorporationLimited(WBHIDCO)atNewTown,KolkataforestablishmentofCentreofExcellence(CoE).

• Therenovation/alterationworkattheICSI-CCGRTbuildingisinprogress.

• Offerforallotmentof65.8Acreslandhasbeenreceivedfromthe Govt. of Madhya Pradesh for establishment of CentralCampusatvillageRampura,BalachonandKaranpura,BerasiaTehsil,Bhopal.RequesthasbeenmadetotheMadhyaPradeshGovernmenttoconsiderwaivingoffofAnnualleaserent.

B) Regional/ Chapter Offices• Theconstructionofnewbuildingbydemolishingtheexisting

building of North-East (Guwahati) Chapter is nearingcompletion.

• The constructionwork forUdaipurChapter newbuilding isalmostcomplete.

• Landadmeasuring30cents(13063Sq.Ft.)hasbeenpurchasedforCoimbatoreChapter’spremises.

• Plot admeasuring 3229.17 Sq.ft. has been purchased fromRaipur Development Authority, for construction of RaipurChapter’spremises.

• Possessionoflandadmeasuring1567.5Sq.MtatInstitutionalPlotNo.3/2,Sector-2,IMTManesarwastakenfromHaryanaState Industrial Infrastructure Development Corporation(HSIIDC)forconstructionofGurugramChapter’spremises.

• Renovation and construction of additional floor forBhubaneswarChapterpremisesisinprogress.

• Approval for fixing of priority for acquisition of biggerpremisesforWIROhasbeengiven.

III) Approval given for Fixing of Priority for Acquisition of Premises / Construction of New building.

ConstructionofnewbuildingbydemolishingtheexistingbuildingofHyderabadandKochiChapterandacquisitionofnewpremisesfor Kolhapur, Jodhpur, Nagpur, Hooghly, Bhopal, Ghaziabad,Lucknow, Aurangabad, Ahmedabad, Pune, Thiruvananthapuram,Visakhapatnam, Varanasi, Shimla, Chandigarh, Rajkot, Surat, Agra,KanpurandLudhianachapters.

3. HUMAN RESOURCE(1) Employee Development Inordertoenhancethecapabilities,efficiencyandeffectivenessoftheemployeestomeetandexceedtheexpectationofstakeholdersandtoprovidedelightfulservices,theInstitutehasprovidedtrainingforupdationofknowledgeand skillsof theemployeesduring theyear.Employees were nominated for various training programmes /workshops/seminars/conferencesduringtheyear.Amongthesesome of the training programmes were Hi-Impact Leadership -BluePrintforSuccess,ResidentialWorkshoponLabourLaws,ERPTrainingforSIRCandChapters,AllIndiaRajbhashaSameylanandChintan Shivar, Online LearningModule dealingwith “The SexualHarassment of Women at Workplace (Prevention, Prohibition &Redressal)Act,2013”,ITIL(InformationTechnologyInfrastructureLibrary) Foundation Training, Harnessing Effective People Skills,Organisational Skills & Managerial Effectiveness ,Android BasedMobileAppsDevelopment,Tenders,Bids&ContractManagement,International Conference on Corporate Governance : Retrospectand Prospects, Effective Performance Management, InternationalConference on Striking the Right Balance: Integrating EthicalBusinessPractices,WorkshoponDisciplinaryRules&Procedures,Developing Candor and Managing Conflict, Effective BusinessProposalsandReportWriting.(2) Recruitment In order to further strengthen the team, officials the followingpositionswererecruitedduringtheyear2016-17.

S.No. Post No. of Candidates recruited1 Secretary 12 JointSecretary 13 Director 14 JointDirector 25 AssistantDirector 66 AssistantEngineer 17 Executive(Law)/Internal

Audit4

8 JuniorProgrammer 29 SeniorOfficeAssistant 2

TOTAL 20(3) Employee Welfare During the year, the following initiatives were taken towardsemployeewelfare:(i) The employees who could not be promoted due to lack ofqualification were granted an additional 3% increment. (ii) TheChildrenEducationAllowance of SeniorOfficeAssistants&OfficeAssistantswasincreased.(iii)TheannuallimitofreimbursementofMedicalExpensesofSeniorOfficeAssistants&OfficeAssistantswasincreased.(4) Employee Relations Ason31.03.2017,themanpowerstrengthoftheInstitutestoodat393including109femaleemployeeswhichcomprised27.73%oftotalmanpowerstrength.

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The relationship between Employees and Management remainedcordialandharmoniousduringtheyear.4. CAPACITY BUILDING & KNOWLEDGE UPDATIONI. Companies Act, 2013 • “Enable, Evaluate, Excel”:ICSIhasstartedaweekendwebinar

series “The Companies Act, 2013 – Enable, Evaluate, Excel”for itsmembers from firstweek of 2017 to revive, refreshtheir knowledgeon theCompaniesAct, 2013andprovidinganopportunity forself-evaluationoftheirknowledgeonthesubjectandtopreparethemforfuturechallengesfocusingatthepracticalinsight,roleandopportunities.

• ICSI-Quest Assist: An initiative to reply to the queries andclarifydoubtsofmemberspertaining to theCompaniesAct,2013, Rules and Notifications made there under includingissuesrelatedtoE-filing.Thecall-infacilitybysubjectexpertsremainsopenfortwohours,twiceaweek.Duringtheperiodfrom February to May, 2017, a total of 25 sessions werecompleted.

• ICSI Quest e-Assist: The Institute has also launched ane-versionofitsQuestAssistinitiativetitled‘ICSIQuest-eAssist’,a24-hourlinkavailableonthewebsiteoftheInstitutetocatertothequeriesofthemembers.

• E-book on Companies Act, 2013:Tobringabout completeeaseof reference to theCompaniesAct2013, in itsentirety,ane-bookportalontheCompaniesAct,2013waslaunchedbyICSI.Thee-bookremainswellupdatedtakingintoaccountallamendmentsnotifiedbytheMinistryfromtimetotime.Thee-bookportal ishostedonwebsiteofMCAaswellasonthewebsiteofICSIat-http://ebook.mca.gov.in

• Compliance Management and Auditing Configurator (CMAC): TheSecretarialAuditaidsmonitoringofcomplianceswith the requirements of law through a formal compliancemanagement programme to produce positive results to allthestakeholdersofacompany.In linewiththisthoughtandtofacilitatetheconductofSecretarialAudit,theInstitutehasentrustedanexternal expert todevelopa tool “ComplianceManagementandAuditingConfigurator(CMAC),”withdetailedchecklistofapplicablelawscoveringtheCentralandStateActsfor35IndustryVerticalsand50Industrysub-verticalsapprox.

• Secretarial Standards:TheSecretarialStandardonMeetingofBoardofDirectorsandGeneralMeetings(SS-1&SS-2)asrevised by the ICSI, received approval from the Ministry ofCorporate Affairs under Section 118(10) of the CompaniesAct, 2013. The revised SS-1 and SS-2will be effective from1stOctober2017.

II. Capacity Building Programmes on Companies Act, 2013• Insolvency and Bankruptcy Code, 2016:NationalSeminar

on‘InsolvencyandBankruptcyCode’washeldatHyderabadand Mumbai. The Institute jointly with Insolvency andBankruptcyBoardofIndia(IBBI)organisedNationalSeminaronInsolvency&BankruptcyCode,2016inBhubaneswar.

• Secretarial Audit: ICSI and NSE jointly conducted twoworkshops on Secretarial Audit in Kolkata and Bangaloreon 10thMarch, 2017 and 24thMarch, 2017 respectively. The

majorfocusoftheworkshopwasonregulatoryexpectationsofSecretarialAudit,issuesandchallengesinauditprocessandtoprovideguidanceonhowtoprepareforSecretarialAudit.

• NCLT & NCLAT InstituteorganizedseveralNationalseminarsandwebinarson

NCLT&NCLATinordertoequipthemembersintheemergingprofessionalareas.

• Joint Programmes with Professional Institutes Instituteaspartofitscontinuouseffortforcapacitybuilding

of its members organized joint programmes with variouschambers,professionalinstitutes,theseincludes:

o 4th National Conference on Corporate ComplianceManagement-TheStrategicRegulatoryRemediation;and5thand6thNationalSummitonMergerandAcquisitiontitled “The Catalyst to Economic Growth” and “IssuesandChallengesunderpresentRegulatoryFramework”incollaborationwithASSOCHAM.

o One day Seminar on ‘Board Diversity – Driving aSustainable Organization through Board Diversityand Global Convention on Corporate Ethics & RiskManagement,incollaborationwithIOD.

o FourDaysworkshop on Corporate Laws&Regulations,2016 (RecentAmendments)andNational CompanyLawTribunal–Challenges&TheWayForwardImplications;and Insolvency & Bankruptcy Code, 2016 - EmergingIssuesandItsImpact,incollaborationwithPHDChamberofCommerce.

III) ICSI Suggestions on various draft Regulations The Institute submitted its suggestions to Regulatory

authoritiesasunder: (i) toReserveBankofIndia(RBI)ontheDraftRegulations

titled Foreign Exchange Management (Cross BorderMerger)Regulations,2017.

(ii) totheMinistryofCorporateAffairson: o Desirabilityofpublicationofnotice innewspapers

as required under the various provisions of theCompaniesAct,2013andRulesmadethereunder;

o DraftCompanies(RegisteredValuersandValuation)Rules,2017.

o AmendmenttoCompanies(specificationofdefinitiondetails)Rules,2014

o Section169oftheCompaniesAct,2013toprovidefor removal of independent director by way of aspecialresolution.

5. CORPORATE GOVERNANCEi. 1st ICSI CSR Excellence Award & 16th ICSI National Awards

for Excellence in Corporate GovernanceA. 1st ICSI CSR Excellence Awards: WithaviewtoprovidefurtherimpetustotheGovernment’s

effortstowardsimplementationofprovisionsrelatingtoCSRandtorecognizethegoodpracticesundertakenbyCorporatesundertheCSRumbrella, theInstitute initiatedthe ‘ICSI CSR Excellence Awards’.

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TheAwardsaimtopromotetheCorporateSocialResponsibilityintheIndiancorporatesby:

a. Acknowledging their unique and extraordinarycontributioninCSR;

b. Recognising contribution of corporates in fuellinginclusivegrowth;and

c. Recognising implementation of innovative practices inCSR.

All companies are mandatorily required to comply withSection135oftheCompaniesAct,2013areeligibletoapplyfortheawards.Theparticipatingcompaniesareevaluatedonthebasisoftheirresponsestothequestionnaires,mediareportsaswellasresponsesreceivedfromregulatoryauthorities.

The Awardees of the 1st ICSI CSR Excellence Awards are asunder:

• BajajCorpLimited –– EmergingCategory • ACCLimited –– MediumCategory • RelianceIndustriesLimited –– LargeCategoryB. 16th ICSI National Awards for Excellence in Corporate GovernanceThe Institute of Company Secretaries of India has always beenforthright in promoting its vision to become a global leader inpromoting good corporate governance and mission involvingdeveloping high caliber professionals facilitating good CorporateGovernance.TheideahasalwaysbeentocommendthecommitmentoftheIndiancorporatesectorinportrayingtheirconsciousnessasregardsgoodgovernance.Themulti-stagedevaluationprocessandtheextensiveparametersformingthebasisofsuchevaluationhavepavedthewayinaccordingpinnaclepositiontotheseawards.In pursuance of its goal of catalyzing a pervasive consciousnessof the need for good governance in the Indian corporate sector,ICSI instituted the “ICSI NATIONAL AWARDS FOR EXCELLENCEIN CORPORATE GOVERNANCE” in the year 2001. The underlyingobjectivesoftheAwardsinclude:• Recognizing leadership efforts of corporate boards in

practising good Corporate Governance principles in theirfunctioning;

• Recognizing implementation of innovative practicespromotingCorporateGovernance;

• Enthusing focus on Corporate Governance practices incorporatefunctioning;and

• ImplementationofbestpracticesinCorporateGovernance.TheAwardeesofthe16th ICSI National Awards for Excellence in Corporate Governance areasunder:• Best Governed Companies (in alphabetical order) • InfosysLtd. • Larsen&ToubroLtd.• Certificate of Recognition to other top 5 companies (in

alphabetic order) • BhartiAirtelLimited • DaburIndiaLimited

• Dr.Reddy’sLaboratoriesLimited • MindtreeLimited • RelianceIndustriesLimitedC. Life Time Achievement AwardTheICSILifetimeAchievementAwardisalsoconferredeveryyearononeeminentpersonalityfortranslatingexcellenceincorporategovernance into reality. The ICSI Lifetime Achievement Award isbestowed keeping in view the contribution under the followingheads:• PerformanceofGroup/Companyhe/shehasled;• SocialWelfare;• PublicPolicy;• CorporateGovernanceICSI Life Time Achievement Award for Translating Excellence inCorporateGovernanceintoRealityfortheyear2016wasconferredtoShriBabasahebNeelkanthKalyaniofTheKalyanigroup.TheCompanySecretariesoftwobestgovernedcompanieswerealsorecognizedontheoccasion.The award presentation ceremony of 1st ICSI CSR Excellence Awards and 16th ICSI National Awards for Excellence in Corporate Governance wasorganizedon24thDecember,2016atVigyanBhawan,NewDelhi,intheaugustpresenceofChiefGuest-Smt.NirmalaSitharaman,thenHon’bleMinisterofState,Commerce&Industry.6. ACADEMIC INITIATIVES• Practice Manuals:Withaviewtomakestudentsconversant

with the application of fundamental concepts and to guidethemonpracticalaspects,theInstitutereleasedtwoPracticeManualsonthesubjects(i)CostandManagementAccounting;(ii)AdvancedTaxlawsandPractice.

• Launch of E- learning Module on Banking Terminologies: The Institute launched a short term e-learning Module onBankingTerminologiesandalsoreleasedabookonBankingTerminologies.

• Short term Course in International Business Taxation:TheInstitute launcheda15daysOnlineCourseon InternationalBusinessTaxation for itsmembersandstudents to facilitatethem to acquire specialized knowledge in the area ofInternationalTaxation.

• Constitution of Syllabus Review Board The Council at its 233rd meeting constituted Syllabus

ReviewBoard.TheCouncilnotifiedNewSyllabus(2017)forFoundation Programme effective from April 01, 2017. TheBoardisworkingontheNewSyllabusforExecutiveProgrammeandProfessionalProgrammeofCompanySecretaryship.

• ICSI FINANCS Undertheperspectiveofourcontinuouseffortstostride

acrossprofessionaldiscipline,gazeupontheefficacyandopportunities bestowed in the current economic andlegislativescenario,theICSIhasstartedanewinitiative“ICSI FinanCS – Financial Opportunities -The ICSIansWay”. Through this interactive platform, identified

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opportunitiesandkeydevelopmentsinFinancialServicesspace alongwith an executivebrief is communicated tothemembersofICSIonweeklybasis.

• Launch of Online Courses To enhance portfolio of its members, the Institute

launched the two online Courses in association withNational Institute of Financial Management, Faridabad(NIFM), namely certificate Course in valuation andDiplomainInternalAudit.

• E-library for ICSI Members Withaviewtokeepitsmembersupdatedandtoequip

themwithknowledgeresourcetoolsandtofacilitatethemtocarryoutinstantresearch,ICSIprovidedane-libraryon corporate laws to its members on complimentarybasis.

7. Professional Development Initiatives• 44th National Convention of Company Secretaries The 44th National Convention of Company Secretaries was

organisedonthetheme:“PoweringGovernance-EmpoweringStakeholders: The Role of CS Professionals” at Gandhinagar,Gujarat from November 17-19, 2016. This Conventionwitnessedimmenseparticipationofdelegates.

TheChiefGuestofInauguralSessionwasHon’bleChiefMinisterof Gujarat, Shri Vijaybhai R. Rupani, CS (Dr.) MadhusoodanSahoo, Chairman, The Insolvency and Bankruptcy Board ofIndia;ShriMrugankM.Paranjape,MD&CEOofMCXofIndiaLimitedandShriBimalChaudhary,MD&CEO,AnmolBiscuitsgracedtheeventastheGuestsofHonour.

The Valedictory Sessionwitnessed the gracious presence ofSmt. Smriti Zubin Irani, Hon’ble UnionMinister for TextilesasChiefGuestalongwithShriVinaiKumarSaxena,Chairman,KhadiandVillageIndustriesCommission,GuestofHonour.

• 17th National Conference of Practising Company Secretaries

The 17th National Conference of Practising CompanySecretaries organised on August 12-13, 2016, at Kasauli,HimachalPradeshwitnessedacongregationofmembersfromdifferentpartsofthecountry.Hon’bleMr.A.R.Kohli,FormerGovernor of Mizoram and Hon’ble Justice Mr. M. M. Kumar,President, NCLT, graced the occasion as the Chief Guests atthe Inaugural andValedictorySessions respectively. Further,Ms.KiranOberoiVasudev,Chairperson,QualityReviewBoard,ICSI,wastheGuestofHonourattheValedictorySession.Thetwo day programme encapsulated technical sessions/paneldiscussions on various contemporary themes like StartupIndia, Goods and Services Tax, Financial Risk Management,InsolvencyandBankruptcyLaws,RealEstateAct,Companies(Amendment) Bill, 2016, National Company Law Tribunal,Competition Law and Ease of Doing Business in India –Facilitations and Obstructions etc. addressed by eminentspeakersfromtheRegulatoryBodies,IndustryandAcademia.

• Capital Markets Week As part of incessant initiatives towards investors’ education

and good governance in CapitalMarkets, the ICSI, observedCapitalMarketsWeekfromJune18-25,2016PAN-India,onthetheme‘TranscendingHorizons–CapitalMarketWay’.Duringthisweek,13megaprogrammes inaddition toanumberofAcademic Development Programmes, Panel Discussions,Lectures,InteractiveMeetingswithCapitalMarketRegulators/StockExchanges and InvestorAwarenessProgrammeswereorganizedbytheRegionalCouncilsandChapters.

• CS Day Celebrations TheInstitutecelebratedits48thCSdayonOctober4,across

the Regional Office(s) of ICSI and Chapter(s). Amega eventwasheldatKolkata.Mr.DerekO’Brien,MP&Leader,AllIndiaTrinamoolCongress,RajyaSabha,wastheChiefGuest.

• Celebration of PCS Day TheInstitutecelebratedPCSDaywithfullzestandvehemence

on 15 June to commemorate the historic day when theCompany Secretaries in Practice were accorded recognitionforCertifyingtheAnnualReturnsintheyear1988undertheerstwhileCompaniesAct,1956andbecamethefirstpremiermile stone in the development of the practising side of theprofessionofCompanySecretariesinIndia.

• Initiatives for MSME and Start-up India ThemembersoftheInstituteareactivelyengagedintheMSME

sector and are rendering value added services toMSMEs. AdelegationoftheInstitutemetMr.KKJalan,Secretary,MinistryofMicro, Small andMediumEnterprises to discuss thewayforward in guiding the entrepreneurs andproviding furthersupport to theMinistryofMSME.The Institute alsometDr.Anup K. Pujari, IAS, the then Secretary, Ministry of Micro,SmallandMediumEnterprisesatUdyogBhawan,NewDelhi.AdelegationoftheInstitutealsometSmt.NirmalaSitharaman,thenHon’bleMinisterofStateforCommerceandIndustryanddiscussed the feasibility of setting up of incubation centresproviding platform to the entrepreneurs for convertingtheir ideasintorealbusinessesandorganizinghandholdingcamps for start-ups towards fostering the development ofstart-upsundertheaegisofDIPP.TheInstituteorganizedthe2ndNationalSeminaronEntrepreneurship,SkillDevelopmentandGovernanceinMSMEswithFederationofRajasthanTrade& Industry as an associate partner at Hotel Hilton, JaipuronMay 28, 2016. Shri Rao Rajendra Singh, Hon’ble DeputySpeaker,RajasthanLegislativeAssembly,gracedtheoccasion.

• ICSI National Seminar on Entrepreneurship, Skill Development and Governance in MSMEs

The Institute in association with Ministry of Micro, Smalland Medium Enterprises (MSME) organised a Seminar on‘Entrepreneurship, Skill Development and Governance inMSMEs’atNewDelhionMarch19,2016.

• Recognition of Company Secretary under Guidelines for Grant of Unified License (Virtual Network Operators)

TheGuidelinesforGrantofUnifiedLicense(VirtualNetworkOperators) issued by the Ministry of Communication andInformation Technology authorise a Company Secretaryprofessional to certify the Certificate of Registration along

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withArticlesofAssociation,MemorandumofUnderstanding,Details of Promoters/ Partner/Shareholder Foreign DirectInvestment in the company for the purpose of Applicationto Department of Telecommunications for Grant of UnifiedLicense (Virtual Network Operators)/Authorisation forAdditionalServices.

• Recognition of Company Secretary for Third Party Certification by Government of Haryana

Department of Labour, Government ofHaryana has broughtoutanewcomprehensivetransparentinspectionpolicy,underwhichitrecognizesCompanySecretarytoprovidethirdpartycertificationunderthescheme.

• ICSI Outreach Programmes with MoU partners ICSIhasMemorandumofUnderstanding(MoU)withvarious

celebrious Institutes including Government and highereducationalbodies,ChambersofCommerce,StockExchangesetc.tocreatesynergiesforcapacitybuildingofitsmembersandstudents.WithanobjectivetoacknowledgeandreiteratetheassociationandbondagewithexistingpreciousMemorandumofUnderstandingpartnersofICSIandtoexploretheavenuesofnewassociationswiththem,ICSIorganised‘ICSIOutreach’programmes.

ICSIsignedaMoUwithBhawanipurEducationSocietyCollege,Kolkata and National Institute of Securities & Management(NISM) to hold joint workshops, seminars, continuingeducation and training programmes, exchange of journals,coursematerials, case studies and to conduct joint researchprojectsetc.TheInstitutealsosignedaMoUwithCompetitionCommission of India (CCI), New Delhi to collaborate in theareasofmutualinterestwhichincludescompetitionadvocacy,advancementofknowledge.

• Professional i-Tellect - Series of Webcasts and Webinars The Institute organised a series of webcasts ‘Professional

iTellect’toenrichtheknowledgeofmembersandstudents,onAccountingStandards,IndustrialAudit,RealEstateAct,CyberLaws,Brexit,CorporateFraudsetc.

• 7th National Legal Submit, 2017 The Institute in collaboration with Indian Chamber of

Commerce(ICC)asKnowledgePartnerorganized7thNationalLegalSummit,2017onMarch18,2017atNewDelhi,focussingon issues related to improving the trade and commerceecosystemalongwiththeconvergingonlegalreforms.

• Start-O-Vation Punjab TheInstitutecollaboratedwithIndianChamberofCommerce

as Strategic Knowledge Partner in Startup and InnovationSummit,2016titled“Start-O-Vation”organizedonNovember29,2016atChandigarhguidingentrepreneurstobuildastrongbase in terms of financing, leadership and strategies. TheMinistryofCorporateAffairsalsoputupabigpavilionwheretheconceptsofOPC,smallcompany,SPICE,incorporatedbodyetc.wereexplainedtothestart-upsandreadingmaterialandpamphletswere also distributed to the participants both inEnglishandHindilanguages.

• India Banking Reforms Conclave 2016 - Mumbai The Instituteassociatedas InstitutionalPartnerat the India

Banking Reforms Conclave, 2016 organised at Mumbaion August 24, 2016, to deliberate on challenges faced byIndian Banking Industry such as High Non-PerformingAssets, Governance, Risk Management, HR Challenges andTransformations though Information and CommunicationTechnologies.

• Training of Peer Reviewers During the year, training Programmes to empanel Peer

Reviewers were conducted at Noida, Gurgaon, Chennai,Nagpur,Vadodara,Bengaluru,Hyderabad,Kolkata,RaipurandKolhapur.

• Dress Code for a CS appearing before Judicial/Quasi – Judicial bodies and Tribunals

The Institute prescribed the Professional Dress Code forCompanySecretariestoappearbeforejudicial/quasi-judicialbodiesandtribunalslikeNCLT-NCLAT,SAT,etc.

8. INITIATIVES UNDER GST• GST Master Classes ICSI conducted a series of Master Classes on GST through

webinars. This online series encapsulates deliberations onInput tax credit, Transitional provisions under GST, IGST,Returns,Adjudication,Revision,Review&Appeals,TDS,TCS,Refundetc.

• National Symposium on GST The Institute organized National Symposium on Good and

ServicesTaxatBikaneronAugust13,2016.ShriArjunRamMeghwal,thenHon’bleUnionMinisterofStateforFinanceandCorporateAffairswastheChiefGuiest.

• National GST Conclave TheInstituteinassociationwithPHDChamberofCommerce

organizedNationalGSTConclave:OneNation,OneTax–PivotalTax Reform at New Delhi on February 9, 2017, to promotean informed dialogue on the Goods & Services Tax in thecountrywithitssectoralimplicationsanduniformtaxability&compliancesacrossIndiaunderthetagline“India–EkBharatShreshthaBharat”.

• Meeting with the Empowered Committee of State Finance Ministers

A delegation of the Institutemet Empowered Committee ofStateFinanceMinisterstodiscussGSTrelatedmattersatNewDelhionAugust30,2016.

• National Seminar on GST and Insolvency & Bankruptcy Code

TheInstituteinassociationwithICSIInsolvencyProfessionalAgency organized a National Seminar on GST and IBC –Culmination of Governance for Sustainable Tax Regime andInvigorating Balance in Corporate at Vijayawada, AndhraPradesh.

• GST Awareness Month TheInstitutecommemoratedAugust,2016as‘GSTAwareness

Month’ and took various initiatives such as dedicating anissueofCharteredSecretarytoGST,creatingaGSTCornerat

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theInstitute’swebsite,organizingAwarenessPrograms,GSTAwarenesswalks,webinars, seminars, sharingofknowledgematerialandpaneldiscussionsetc.

• GST Corner The Institute has taken proactively taking capacity building

initiativesinthedomainofGoodsandServicesTax, suchasa separate tab titled, ‘GSTCorner’ created on the Institute’swebsite containing knowledge material, updates, details ofevents etc. related toGST at the linkhttp://www.icsi.edu/GSTCorner.aspx.

• Dubai Webinar on GST TheInstituteorganizedanInternationalFinancialWebinaron

‘GSTanditsImpactstoNRI&GlobalBusinessCommunity’onOctober1,2016.

9. REPRESENTATIONS / INTERACTIONS WITH REGULATORS • Draft Real Estate (Regulation and Development) Rules,

2016 The Institute submitted its suggestions regarding the Draft

Real Estate (Regulation and Development) Rules, 2016issuedbyMinistryofHousingandUrbanPovertyAlleviation,GovernmentofIndia.

• Consultative paper on SEBI (Portfolio Managers)Regulations

The Instituted submitted its views and suggestions onSEBI Consultative Paper on Amendments to SEBI (PortfolioManagers) Regulations, 1993 pursuant to introduction ofSection9AintheIncomeTaxAct,1961.

• Consumer Grievance Redressal Mechanism to MCA On the mechanism for mandating Consumer Complaint

Redressal Mechanism by Companies under the CompaniesAct,2013,theInstitutehassubmitteditssuggestions/viewstoMCA.

• SEBI (LODR) Regulations, 2015 The Institute submitted views/ suggestions on SEBI Listing

RegulationsemanatingfromthedeliberationsanddiscussionsoftheprogrammesorganisedwithBSELtdandSCOPE,toSEBIforconsideration.

• Income Disclosure Scheme, 2016 ICSI represented at the interactive meeting called by

the Hon’ble Finance Minister Shri Arun Jaitley with theProfessionalbodies,Businessandindustryon28thJune,2016atNewDelhi.Smt.NirmalaSitaraman,thenHon’bleMinisterofCommerceandIndustry,ShriJayantSinha,Hon’bleMinisterofFinance,ShriPiyushGoyal,thenHon’bleMinisterforPower,Coal and New& Renewable Energy, Revenue Secretary andotherdignitarieswerealsopresentatthemeeting.

• Survey Report on ‘Implementation of Prevention of Sexual Harassment at Workplace’

The Institute released a report on the survey encapsulatingand analysing responses from 614 organisations on‘Implementation of prevention of Sexual Harassment atWorkplace’atHyderabad.

10) PUBLICATIONS • Golden Leafs of ICSI National Conventions 1972- 2015 During the 17th National Conference of the Practicing

CompanySecretaries,theInstituteforthefirsttimecompiledand released ‘Golden Leafs of ICSI National Conventions1972-2015’providing glimpses of the golden yesteryearsof ICSI Conventions and highlighting the excerpts from thespeechesofthedistinguishedspeakers.

• Publications Released TheInstitutebroughtoutfollowingpublicationsduringthe

year2016-17: • GuidanceNoteonSecretarialAudit(Release1.3) • GuidanceNoteonAOC-4 • NCLTandNCLAT–Manual • SettingupofPracticebyCompanySecretaries • ReferenceronBoard’sReport-RevisedEdition • SEBI(LODR)Regulations2015–DebtSecurities • FAQsonSection8Companies • GuidanceNoteonCodeofConduct • CSinPractice-AreasofRecognition • CDcontainingICSIPublications • Challenging Opportunities for Practicing Company

SecretariesinLabourLaws • Corporate Governance Certification under Listing

Regulations:AReferencer • CSSathi:AReferencerforCorporateLeaders • CyberCrime:Law&Practice • DelistingofEquityShares:LawandPractice • E-learningModuleonBankingTerminology • GuidetoTransferPricing • HandbookonArbitration,ConciliationandMediation • IndependentDirectors–AHandbook • RiskManagement:AToolforGoodCorporateGovernance • SEBI (LODR) Regulations, 2015 and Companies Act,

2013:AComparison • SEBI(ListingObligationsandDisclosureRequirements)

Regulations,2015–AReferencer • CoffeeTableBookonCorporateGovernance • E-BookonCoffeeTableBookonCSR • Corporatebankruptcy–Aprimer • BackgrounderonNationalCompanyLawTribunal • GenderDiversity.(Revised) • Rajasthan–EaseofDoingBusinessforMSMESector • ReferenceronEntrepreneurship,SkillDevelopmentand

GovernanceinMSMEs11. GLOBAL DEVELOPMENTS• Dubai Global Convention TheInstitutepartneredwiththeInstituteofDirectors(IOD)

in organizing the IOD’s ‘Dubai Global Convention 2016’ on

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the theme “Empowering Boards to become Instruments ofInnovation&Excellence”from19-21April,2016,atHotelTheMeydaninDubai.

• Corporate Secretaries International Association (CSIA) Executive Committee Meeting

ICSIrepresentativesattendedtheCSIAExecutiveMeetingonApril28-29,2016atLondon.TheICSIisoneofthefoundingmembers of Corporate Secretaries International Association(CSIA),whichisanInternationalBodyofInstituteofCompanySecretaries and Governance Professionals. In its ExecutiveCommittee,IndiaholdsthepositionofSecretary.OneamongstmanyagendawasthepointofinclusionofSecretarialServicesinthelistofservicesunderWTO.

• Interactive Meeting with Delegation from Republic of Kenya

An interactive meeting was organised with a high leveldelegation from Homa Bay County, Republic of Kenyacomprising of His Excellency Hon’ble Hamilton OnyangoOrata - Deputy Governor, Homa Bay County and Hon’bleProf. Tom Peter Migun Ogada - County Minister for Trade,Industrialization, Investment. The delegation had an openhouse session with the representatives from academia andindustry and ICSI Senior officials. Addressing the augustgathering,KenyanDelegationapprisedthatKenyaoffersquiteattractive investment opportunities for IndianMSME sectordesirous of entering African Markets and the Governmentis planning to develop specific themes with special focuson Cotton and Textile Industrial Park, Food Park, LeatherParketc.atpresent.Healso invited the Indian IndustryandentrepreneurstopayavisittoKenyaandexploreinvestmentopportunitiesintheMSMEsegment.

• Meeting with Designated Non-Financial Business Professions (DNFBP) Committee

TheInstituterepresentedattheMeetingofDNFBPCommitteeheldatLokNayak,Bhawan,NewDelhionJuly04,2016.Duringthe meeting, deliberations were made on the Anti MoneyLaunderingAct and the threat andvulnerability assessmentfor National Risk Assessment (NRA) exercise to assess therisksofvarioussectorsforeconomy.

• London Global Convention, 2016 The Institute of Company Secretaries of India (ICSI) was

an Associate Partner with the Institute of Directors (IOD)in organizing its Annual ‘16th London Global Convention2016’ on 17-19October, 2016 at London. The theme of theconvention was ‘Corporate Governance and Sustainability:Board’sOversightinaChallengingGlobalEconomy’.

• CSIA Council Meeting ICSI representatives participated in the Council Meeting of

CorporateSecretariesInternationalAssociation(CSIA)hostedby Thai Listed Company Association (TLCA) at Bangkok onOctober27,2016andtheStockExchangeofThailandOfficeon October 28, 2016. On October 27, 2016 a CorporateGovernance roundtable was also organised which wasattended by representatives from 15 member countries ofCSIA.

• President, ICSI elected as Secretary, CSIA CS(Dr.)ShyamAgrawal,President, the InstituteofCompany

Secretaries of India (ICSI) was elected as the Secretary ofthe Corporate Secretaries International Association (CSIA)during its Council Meeting held on March 15-16, 2017 atJohannesburg,SouthAfrica.

• 12th International professional Development Fellowship programme and International Conference

The Institute organised its 12th International ProfessionalDevelopment fellowshipProgramme (IPDFP) inRussia fromSunday,the11thJune,2017toSunday,the19thJune2017foritsmembersandtheirfamilies.TotalnumberofparticipantsofIPDFPwere81includingfamilymembersofdelegates.Duringthe tour, Business Breakfast sessions on various relevanttopicsweredeliberatedbytheparticipants.TheparticipatingMemberswereentitledtoTenProgrammeCreditHours.

As part of fellowship Programme, 12th InternationalConference on the theme “Strategic Leadership and BoardResponsibilities” was also organised on 12th June, 2017 atHotel Hilton garden Inn Moscow. The deliberations at theconferencewerehighlyenrichingcoveringtherecenttrendsingovernanceandcorporategovernance.Theconferenceaimedtoconversethelatestdevelopmentsintheareaofgovernanceandinclusiveeconomyatglobalplatform.Alongwiththelatestdevelopments, the premises of the conference focussed onhighlightingtheprominentrole,theCompanySecretariesplayas strategic leaders in strengthening sustainable CorporateGovernance

• “Make in India” Initiative ICSI delegation met Shri Naresh Kumar, Consul (HOC) and

commercial representative, at Indian Consulate General inJohannesburg and deliberated on furthering the initiativestaken by the Consulate in providing its services to SouthAfricancompaniesforsettingupbusinessinIndiaundertheMakeinIndiainitiativeofGovernmentofIndia.

• Facilitating Least Developed Countries (LDCs) for Developing and Strengthening the Company Secretary Profession

AnannouncementforpreferentialtreatmentbyIndiatoLDCswasuploadedatICSIwebsitewithcaptionICSIfacilitatesLDCsat http://www.icsi.edu/WebModules/ICSI%20proposal%20for%20LDCs.pdf.Theweb-linkofICSIhasalsobeenuploadedatwebsiteofMinistryofCommerceathttp://commerce.gov.in/writereaddata/uploadedfile/MOC_635963313403324681_Technical_Assistance_Capacity_Building.pdf

12. STAKEHOLDERS I) MEMBERSDuring the financial year ended 31st March, 2017, 6284 and 619memberswereadmittedasAssociatesandFellows,respectively.Ason 31stMarch, 2017, the Institute had 36928Associate and 7655Fellow members aggregating to 44583 members on the RegisterofMembersofwhich392areresidingabroad.Thenamesof5614membershavesofarbeenremovedfromtheRegisterduetonon-paymentofmembershipfee.Therewere9189memberswhowere

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holdingCertificatesofPracticeasonMarch31,2017andduringthefinancialyear2016-17,2113CertificatesofPracticewereissued.TheCouncilregretstoreportthesaddemiseof32membersduringthefinancialyear2016-2017.Know Your Member (KYM) proforma in digital mode becameoperational. Form-D for issue/renewal/restoration of Certificateof Practice was digitized. The processing time for AssociateMembershipapplicationhasbeenshortened.TheprintingtimeforMembershipcertificateshasbeenshortened.VariousMembershipfeeshavebeenrevisedw.e.f.1stApril,2017.AlignmentofnameofmembersaspertheirPANdetailshasbeentakenup.Thebi-annualICSIConvocationsatfourregionsweresuccessfullyorganized.TheRevisedGuidelinesforthenameofaproprietorshipconcern/firm/ trade was implemented. The Guidelines for change in name ofproprietorshipconcern/firm/tradewasintroduced.TheSOPforrecordingdemiseofamemberwasimplemented.1) List of MembersInPursuanceofsection19(3)oftheCompanySecretariesAct,1980,readwithRegulation161oftheCompanySecretariesRegulations,1982,alistofMembersasonApril1,2017hasbeenmadeavailableinCD.2) LicentiateshipDuring the year 2016-2017, 89 Final/Professional Examinationpassed Students of the Institutewere admitted as Licentiate-ICSI.ThenumberofLicentiatesasonMarch31,2017stoodat304.3) Company Secretaries Benevolent Fund (CSBF)Three schemes were launched to augment enrolment to LifeMembership of CSBF. The financial assistance from CSBF todependants of life members (till the age of 60 years) in case ofdemiseofthelifememberwasenhancedfrom5lakhto7.5lakhw.e.f.1stJanuary,2017.ThefinancialassistancefromCSBFtodependantsoflifemembers(above60years)incaseofdemiseofthelifememberwasenhancedfromRs.2lakhtoRs.3lakhw.e.f.1stJanuary,2017,indeservingcases.ThesubscriptionforlifemembershipofCSBFwasincreasedfromRs.7500toRs.10,000w.e.f.1stJanuary,2017.Therewasarecordincreasein lifemembershipofCSBFduringtheyear.TheCSBFmonthwasorganizedinMay,2016.Ason31stMarch,2017CSBFhadstrengthof12401LifeMembersagainst10845ason31stMarch,2016.Theregion-wisebreak-upisasunder:

REGION As on 31st March2016 2017

EIRC 844 959NIRC 3795 4315SIRC 3155 3593WIRC 3283 3785FOREIGN 55 55TOTAL 11132 12707SADDEMISES 287 306Total 10845 12401

4 ) TRAINING (i) Empanelment of Companies/Company Secretaries in Practice for imparting training.The Institute on continuous basis makes efforts to expand itstraining base by empanelling more companies/other entities aswell as Practicing Company Secretaries for providing training tostudents. During the year, 418 companies were empanelled forimparting15months/12months/24months/36months trainingand 772 Practicing Company Secretaries were empanelled forimpartingtraining.(ii) Executive Development Programme(EDP)During the year 64 Executive Development Programmes wereorganized.2564studentssuccessfullycompletedEDPinclassroomenvironment.(iii) Management Skills Orientation Programme (MSOP)(a) Regular MSOP 132regularManagementskillsOrientationProgrammeswere

organizedbytheRegionalandChapterofficesinwhich5770studentssuccessfullycompletedMSOPduringtheyear.

(b) Residential MSOP Duringtheyear ICSI-CCGRTorganized13residentialMSOPs

and531studentsattendedsuchprogramme.(c ) Weekend MSOP In order to facilitate working students, the Institute has

decided to allow conducting of MSOP on weekends also.During the year, NIRC organized 1 weekendMSOPs and 18studentsattendedtheprogramme.

(iv) Agencies authorized for Imparting 15 days Specialized raining

The Institute authorised following few more agencies forimparting15daysspecializedtrainingtoCSstudents:

i) ExportPromotionCouncil ii) ExportCreditGuaranteeCorporation iii) ReputedNGOs(withspecificapprovalofTEFC) iv) International organisations like United Nations or UN

affiliatedoffices v) SecretariatofLokSabha/RajyaSabha/Assembly vi) BankruptcyInsolvencyBoard vii) RealEstateRegulatoryAuthority(RERA) viii) LabourDepartment ix) Otherstatutorybodyorregulatorybody.(v) 45 days residential Corporate Leadership Development

Program The concept of introducing Residential Programme for

Professional pass students before getting their Membershipwas considered a long back by the Institute. However, itwas approved by the current Council on 27th March, 2017for introducing three months residential training programfor our professional Pass out students. Accordingly, theInstitute has launched its first ever residential programme

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onCorporateLeadershipDevelopment from1stAugust,2017to 14th September, 2017 in collaboration with Lloyd LawCollege, Knowledge Park- II, Greater Noida, UP. Initially, itis being introduced for 45 days on Pilot basis. Based on theobservationsandactualfeedback,itwillbedecidedtomakeitcompulsoryforallprofessionalpassoutstudentsbeforetheygettheirmembership.

(5) PLACEMENT :TheInstituteatitsHeadquarters,Regional/Chaptersofficesprovidesplacementassistancetoitsyoungmembersjoiningtheprofession.The Regional/ Chapters offices also organize campus placementinterviews time to time.During theyear, campus interviewswereorganizedatNewDelhi,Kolkata,Chennai,Ahmedabad,Bangaluru,andHyderabad&Noida.(a) ICSI Weblink Facilities for Trainers and TraineesTheICSIdevelopedaweblinkopportunitiesfortrainersandtraineesatasinglePlatform.TheInstituteprovidedcontinuousservicestobothtrainersandtraineesthroughitsweblinkthroughouttheyear.The‘trainingopportunitiesforstudents’andtraineesrequirementfor trainersareupdatedcontinuously to facilitate the services.Byvisiting this weblink students can get information about variousorganizations/companiesetc.wherethereisvacancyforCStraineesandinturntheycanapplyforthesameaspertheirsuitabilityandconvenience.From this portal, companies/PCS/other entities who are insearchofsuitablecandidatesforengagingthemastraineeintheirorganization, may search the e-mail ids of suitable candidates oftheir respective areas/locations, as per their preference and thentheymaywrite them to submit their CVs to respective company/PCS/otherentitydirectlyforfurtherscreening/shortlistingattheirend. State-wise, Chapter-wise, Stage of examination-wise, gender-wisesearchfacilityhasbeencreatedatthisportalformakingsearchconvenient&smoothforprospectivetrainers.(b) Developed web link - Job opportunities for members on ICSI website : TheInstituteisposting‘Jobopportunitiesformembers’onitswebsite,receivedfromvarioussources.Byvisitingthisweblinkstudentscangetinformationaboutvariousorganizations/companiesetc.wherethereisJobvacancyforCSmembersandinturntheycanapplyforthe same as per their suitability and convenience. This facility ofthe Institute is getting overwhelming response fromboth the Jobprovidersandjobseekers.(c ) Registration of FCS as Mentors for ICSI Mega Placement drive TheInstituteinthemonthofApril2017,launchedanewinitiativeofregistrationofFellowCompanySecretariestoregisterasMentorstofacilitateintheplacementdriveofICSI.Mentorswererequestedto provide support in terms of knowledge sharing and providingguidancetotheyoungmembersforgettingjobopportunities.(d) ICSI Mega Placement Drive :TheInstituteorganisedmegaplacementdriveinthemonthofMay2017inallfourregionsofICSI.Thefirstdrivewasconductedon19-20thMayinWIRCandSIRCandon26-27thMayatNIRCandEIRC

wheretheparticipantsweretrainedonInterviewSkilldevelopmentModule followed by Group discussion and personal interview . AgoodnumberofleadingorganisationsparticipatedforrecruitmentofCompanySecretariesinallthefourregions.II) STUDENTSa) CS Regular Programme During the year, 39975 students were registered in ExecutiveProgramme and 6624 students were registered in ProfessionalProgramme.Ason31stMarch,2017, therewere291560 studentswithvalidregistrationintheregularprogramme.b) CS Foundation ProgrammeDuringtheyear26104studentswereadmittedtotheFoundationProgrammeandtherewere42836FoundationProgrammestudentswithvalidregistrationason31stMarch,2017.c) ICSI Students Education Fund TrustThe Institute has created ‘ICSI Students Education Fund Trust’to encourage and motivate both economically backward andacademicallybrightstudentstopursuetheCompanySecretaryshipCourse.AspertheguidelinesoftheoftheTrust,eligiblestudentsarefullyexemptedfrompayingtheRegistration/AdmissionFee,EducationFee, Exemption Fee and other fees usually payable at the time ofadmission toFoundation/ExecutiveProgrammes.Basedon theirperformanceintheexaminations,suchstudentsarealsoexemptedfrom payment of all fee applicable at Executive Programme/ProfessionalProgrammestages.During theyear,205 and515 studentsbelonging toeconomicallybackwardandacademicallybrightcategoryrespectivelygotbenefitsfromtheTrust.(d) Conduct of ExaminationDuringtheperiodunderreport,CompanySecretariesexaminationsfor Executive Programme and Professional Programme (Old andNewSyllabus)aspersyllabusprescribedintheCompanySecretariesRegulations,1982wereheldat203and193centresalloverIndiaand one overseas centre at Dubai in June and December, 2016sessions of examinations respectively. A total number of103231 and93561candidatessoughtenrolmentforappearinginJuneandDecember,2016sessionsofexaminationsrespectively.Further,theComputer Based Examinations for Foundation Programme wereconducted at 109 and 115 Examination Centres all over IndiaincludingoneoverseascentreatDubaiinwhich15696and13701 candidatessoughtenrolmentforappearinginJuneandDecember,2016sessionsofexaminationsrespectively.Numberofcandidateswho completed various stages of examinations during the year2016-17istabulatedbelow:

Stage of Examination Examination SessionJune, 2016 December, 2016

FoundationProgramme 9707 8465ExecutiveProgramme 3503 3385ProfessionalProgramme(N/S) 1082 2324ProfessionalProgramme(O/S) 4418 NoExam

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List of cities for examinations and the statistics relating toexaminationresultsaregiveninAppendix – ‘C’ andAppendix – ‘D’ respectively.

e) Conduct of Post Membership Qualification (PMQ) Examination

TheInstituteconductedthePostMembershipQualification(PMQ)Course examination in (i) Corporate Governance; (ii) CorporateRestructuring and Insolvency; and (iii) Competition Law in June,2016. Statistical details relating toPostMembershipQualification(PMQ)ExaminationsresultsaregiveninAppendix - ‘E’.

f) All India Prize Awards

InordertoinspireandrecognisethebrilliantperformanceofstudentsinCompanySecretariesexaminations,theInstitutehasinstitutedanumberofawards.ThefollowingstudentswonthePresident’sAll-IndiaAwardsforJuneandDecember,2016Examinations:

Medal/ Examination June, 2016

Centre December, 2016

Centre

President’sGoldMedalforProfessionalProgramme

VivekChoudhary

Kolkata SuryanashAgarwal

Noida

President’sSilverMedalforExecutiveProgramme

RishabhHada

Kanpur SachinGoel Delhi(East)

Pt.NehruBirthCentenaryAnnualAwardwaswonbyMs.MansiJainofJaipur.Theparticularsofotherprizewinnersalongwithexistingall-IndiaPrizeSchemes,RegionalandChapterPrizeSchemeswerehostedontheInstitute’swebsite:www.icsi.edug) Merit Certificates/Merit Scholarships/Financial AssistanceMerit Certificateswere awarded to first 25 top-ranked successfulstudentseachinFoundationProgramme,ExecutiveProgrammeandProfessionalProgrammeexaminationsheldinJune,2016aswellasinDecember,2016.PursuanttoMeritScholarshipScheme,Scholarshipswereawardedtofirst25toppers,whoqualifyingallpapersofFoundationProgrammeandExecutiveProgrammeinthefirstattemptinJune,2016aswellasinDecember,2016sessionsofexaminationsforpursuingfurtherstudiesfortheExecutiveProgrammeandProfessionalProgrammeof Company Secretaryship Course respectively. Likewise, underthe Merit-cum-Means Assistance Scheme, financial assistancewere granted to eligible candidates considering their economicbackground and meritorious performance in June, 2016 andDecember,2016examinations.h) Re-Registration Policy Students who have passed the Intermediate Course / ExecutiveProgramme under any syllabus may directly register/ enroll forProfessional Programme Stage provided they are not eligible toseekRegistrationDenovo/Extensionaspertheregulations.Duringthe year, 33 students have sought re-registration to ProfessionalProgrammeStage.

I) New initiatives of the Institute(i) ICSI Signature Award The ICSI Signature Award Scheme was introduced by the

Instituteinfurtheranceofitsobjectivestonurturebesttalentavailableandfacilitatemeaningfulcollaborationsbetweentheinstitutions in thehighereducation sector for thebenefit ofstudentcommunity.

The initiative is expected to encourage competitive spiritamongthestudentsstudying invariouscollegesaffiliatedtotheUniversities.Under thisScheme,TopRankHolder in theB.Com.ExaminationsofrespectiveUniversitiesandtopperofselectedprogrammes/papersofIIMs/IITsshallbeawardedaGoldMedalandMeritCertificate.Topthreerankholdersinthe aforesaid examinations shall also be eligible for waiverof Registration Fee while registering for the CS Course inExecutiveProgramme.

The Institute has so far signed agreements/MOUswith thefollowingUniversities/IIMs:

1. Bhagat Phool Singh Mahila Vishwavidyalaya, KhanpurKalan,Haryana;

2. AlagappaUnivesity,Karaikudy,Tamilnadu; 3. GuruNanakDevUniversity,Amritsar,Punjab; 4. KumaunUniversity,Nainital,Uttarakhand; 5. HimachalPradeshUniversity,Shimla,HimachalPradesh; 6. Adikavi Nannaya University, Rajamundry, Andhra

Pradesh; 7. AndhraUniversity,Visakhapatnam,AndhraPradesh; 8. IIM,Indore,MadhyaPradesh; 9. SNDTWomen’sUniversity,Mumbai,Maharashtra; 10. IIM,Tiruchirapalli,Tamilnadu; 11. PanjabUniversity,Chandigarh,Punjab’; 12. IIM,Raipur,Chhattisgarh GoldMedals/Certificateswereawardedtothetoppersofthe

followingUniversities/Institutesupto31stMarch2017. 1. GuruNanakDevUniversity,Amritsar(PB) 2. AlagappaUniversity,Tamilnadu(TN) 3. KumaunUniversity,Uttrakhand(UK) 4. IndianInstituteofManagement,Tiruchirappalli(TN) 5. PanjabUniversity,Chandigarh(UT) 6. IndianInstituteofManagement,Indore(MP)(ii) CS Olympiad The Institutehas signedaMemorandumofUnderstanding (MoU)withtheScienceOlympiadFoundation(SOF)forconductingtheCSOlympiadforstudentsofClasses11and12ineachacademicyearinschoolsacrossIndia.TheCSOlympiadwassuccessfullyconductedin two phases i.e. on 15th September, 2016 and 4th October, 2016anditwasconductedin29States/UnionTerritoriesacrossabout400Cities,about1300Schoolsandmorethan36000studentswereenrolled.Besides,theCSOlympiadwasalsoconductedinmorethan10 Schools in Gulf Region, Bhutan, Srilanka, Singapore, Uganda,

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etc. The result of Company Secretary Olympiad has also beendeclared.(iii) CS Study Centre Scheme InordertoaugmentthereachandlevelofservicesbeingprovidedthroughitsRegionalCouncils&Chapters,‘ICSIStudyCentreScheme’was launched on 2nd October, 2015. The objective of the StudyCentreScheme is tobridge thedistancebarrierbetween ICSIandits students. Under the Scheme, Study Centres are proposed tobe opened in areas / locations, wherein the Institute’s Regional/Chapter Offices are not in existence. Nearly, all Smart Cities asproposed by the Government of India will be covered under thescheme.Apartfromprovidingbasicservices,theStudyCentresshallalsobeimpartingcoachingtothestudentsofvariousstages.Duringthe period upto 31st March, 2017, 39 Study Centres have beenopened in associationwith reputedColleges/Universities locatedthroughoutthelengthandbreadthofthecountry.(iv) Student MonthTheInstitutecameupwithanewinitiativetoholdStudentMonthduring July, 2016. A plethora of activities were organised duringtheStudentMonth.ThedeterminationbythevariousDirectorates/Units in theHQand theRegional&ChapterOffices inparticularin celebrating the Student Month has been unprecedented. Theteam work and selfless support at all levels have made easy theorganisationalaspectsofmultipleeventsacrossIndia.TheStudentMonthwillberememberedforalongtimebyTeamICSIowingtothemassiveteamworkandco-ordinationinvolved.ThesloganadoptedfortheStudentMonthwas“Udaan. We fuel your Growth”whichisindicativeoftheInstitute’sresolvetoproactivelybackthegrowthofstudentsasprofessionals.(v) Felicitation of Rank Holders in June, 2016 ExaminationsThe Institute invited the Rank Holders of Foundation, Executiveand Professional Examinations held in June, 2016 along withtheir parents to Kolkata to attend a felicitation function in theirhonour.The functionwasheldaspartof the ICSIFoundationDayCelebrationson4thOctober,2016.Morethan40rankholderswiththeirparentsattendedtheprogramme.(vi) Conduct of Webcast for CS StudentsThe Institute organized successfully the monthly webcast forstudents titled Precious ‘You’ to develop their general skills andknowledge in thecoresubjectareas.Therecordedwebcastswereuploaded on the ‘Youtube’ for the convenience of students whileprovidingtherequisitelinksontheInstitute’swebsite.(vii) Success Stories of top 10 rank holders ThevideobytesoftheToptenrankholdersoftheInstituteinJune2016examinationhavebeenmadeavailableonthewebsiteoftheInstitute.(viii) ICSI-SMASH ProjectTheInstitute’sactivitieshaveundergoneaseachangeovertheyearsand its growth in terms of number of stakeholders and activitieshadmadeitabsolutelyessentialtogoforacompletetransformationof the service providing mechanism especially the technologicalinterface availablewith the users in the Institute aswell aswiththestakeholders.ItwaspreciselyforthispurposethattheCouncilthroughtheInformationTechnologyCommitteehadlaunchedICSI

SMASH (Student Member Application Software Hosting) Project.TheICSISMASHProjectonitscompletion,shallbringaboutmajorchangesintheworkingoftheInstitute.TheexistingGrievancePortalhasbeentransformedandupgradedto next level and the improved version even allows uploading ofsupportingdocumentsby the stakeholderswhile submitting theirfeedback/ grievance. It shall contain a feature for Integrating /MonitoringthecommunicationsreceivedthroughGrievancePortal/CallCentre.ThesystemwillallowuploadingofarepositoryofTopic-wiseVideosandPresentationswith rollbasedaccess.There shallbemanymoreimprovementsattheendoftheuseratmicrolevelineachandeveryprocesstobedevelopedwhichshallultimatelyresultinimprovingtheproductivity.Grievance Solutions Cell The Institute is a service oriented organization. The grievances,suggestionsandqueriesreceivedfromthestakeholdersenabletheInstitute to improve constantly. For achieving this objective, theInstitutehascreatedaGrievanceSolutionsCellwhichismonitoringthe communications received through the Grievance Portal atwww.icsi.edu,dedicatedemail id: [email protected], CSTouchPortalandtheTicketManagementSystemofCallCentre.ServicesonCall Centre establishedby the Institute is available tothestakeholdersatTel.Nos.011-33132333/66204999from0700Hours to 2300 hours. The Grievance Solutions Cell is regularlycoordinating with the Service Departments for time-boundresolutionofsuchgrievancesapartfrombringinginimprovementsinexistingproceduresbeingfollowedbytheInstitute.13. BRAND BUILDING / MEDIA VISIBILITYTheInstituteinitsconstantendeavorforbrandbuildingtoenhancethevisibilityoftheInstituteandtheCSprofessiongainedextensivecoverage in the Print and Electronic media throughout the year.ICSInewsandeventswerecovered throughPresscoverage,Pressconferences,Mediainteraction,LivePaneldiscussionsetc.,ensuringallIndiavisibilityoftheInstitute.(i) Media Coverage in Newspapers / In-flight / Business Magazines/ TV & Radio ChannelsTo reach out to themasses throughmedia, 25 Press ConferenceswereorganisedatvariousRegionalCouncils/Chapters.ICSInews/eventswerecoveredbyleadingNationalandBusinessdailiesacrossIndia.28PressInterviews,16CareerFeatures,andmorethan550newspaperclippingswerepublished.ICSIwasalsocoveredby14TV/RadioChannelsviz.CNBCTV18,IndiaTodayTV,DoordarshanNational,NewsNationandAllIndiaRadioFMRainbow.(ii) CS Course Display Advertisements on Executive and Foundation ProgrammeAdvertisementshighlightingtheCut-offdatesforregistrationforCSExecutive& Foundation Programmewere released throughDAVPin National and Regional Newspapers during August 2016 andFebruary2017.(iii) Advertisement for Integrated Company Secretaryship CourseAdvertisementfor“IntegratedCompanySecretaryshipCourse”waspublishedinallEditionsofEducationTimes,Hindu,BusinessLine,TelegraphandBusinessStandard.

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(iv) Publicity of ICSI EventsPublicitywerearranged throughout theyear for the ICSINationalSeminars viz., 17th PCS Conference, ICSI Capital Market Week,16thICSINationalAwardsforExcellenceinCorporateGovernanceand1stICSICSRExcellenceAwards,44thNationalConventionofCompanySecretaries, 1st Global Congruence to Promulgate InternationalCorporate Governance Day, ICSI Convocation, Inauguration ofNew Buildings/ Chapters of ICSI, CS Day Celebration, Uday DivasCelebration, Swachh Bharat Abhiyaan, International Day of Yoga,Van Mahotsav, Student Month- Udaan, Earth Day, Ekta Divas,Internationalwomen’sDayetc.,(v) Brand Building and Visibility: • Registration Advertisements: Advertisements highlighting

theCut-offdatesforregistration,forCSExecutive&FoundationProgrammewerereleasedduringAugust2016andFebruary2017inNewspapersthroughDAVP.

• Magazine Advertisements: CS Course RegistrationAdvertisementwerereleasedinEducationSpecial/B-SchoolSpecial / leading Career Magazines viz., The Week , IndiaToday(EnglishandHindi),HarvardBusinessReview,Outlook,Rail Bandhu Magazine, Student Aid Publications, Careers360 Magazine, Free Press Journal (Special Supplement onEducation),DAVUnitedMagazine,BusinessWorld(B-SchoolSpecial)

• Employment News: Advertisements highlighting the Cut-off dates for registration, for CS Executive & FoundationProgrammewerereleasedinall8issuesofEmploymentNewsduringAugust-September2016andFebruary-March2017.

• Competition Magazine Advertisement: AdvertisementshighlightingtheCut-offdatesforregistration,forCSExecutive&FoundationProgrammewerereleasedinPratiyogitaDarpan(EnglishandHindi),CompetitionSuccessReview(EnglishandHindi), MBA - A Comprehensive Guide, General KnowledgeTodayandEngineeringSuccessReviewCompetitionRefresher,EducationReckoner.

• ICSI Corporate Advertisements in In-flight / Business / Career Magazines

Full page coloured “Corporate Advertisements” highlightingthe “Role of CS”were released in –Airports India (MonthlyMagazine of Airports Authority of India), Business World(B-SchoolSpecial),Exotica(ahome-growntravel,lifestyleandwellness magazine), FICCI Digest (Higher Education Issue),GoGetterMagazine(In-flightMagazineofGoAirways),IndiaTodayGroupMagazines-IndiaToday,BusinessToday,HarvardBusinessReview,Aspire,JetwingsandJetwingsInternational(In-flightMagazinesofJetAirways,DomesticandInternationalOperations respectively), Outlook, Shubh Yatra (In-flightMagazine of Air India), Spice Route (In-flight Magazine ofSpiceJet),FE1000(AnIndianExpressPublicationonTop500Companies).

Tenders / Classified• VariousTenders / Classified /AppointmentAdvertisements

wereissued.

• ICSI Events Advertisements: Quarter page ColourAdvertisements were released for major ICSI Events likeCapitalMarketsWeek,OpeningofCSAccelerationCentres,ICSIConvocations,Celebrationof InternationalDayofYoga,17thPCSConference,ICSI-CCIJointSeminar,CorporateGovernanceDay, 44th National Convention of Company Secretaries, CGAwards (Invitation for participations), Ascentia (TrainingInitiative),GST/GSTSymposium,Launchof4NewCoursesbyICSI,CSDay2016etc.,

(vi) Publication of 48 Pages Booklet on CS Course and Profession “CAREER AS A COMPANY SECRETARY”

• AnInformativeandAttractive48PageBookletonCSCourse&Profession“CareerAsaCompanySecretary”waspublishedinassociationwithCareers360(English)MagazineandwasdistributedalongwiththeirSeptember2016.

• The Booklet published contained Introduction to theICSI course, Curriculum, time frames, fees, difficulty, passpercentage, Employment potential, Placements, Interviewwith the President of ICSI, Interview with Secretary, ICSI ,Aspirationalstoriesofstudents&members,Goodgovernance,transparencypracticeofCompanysecretaries,Successstoriesofstudents.

• The Booklet on “Career as a Company Secretary” waspublishedandCirculatedtoover15,000Librariesofvariousschools and Colleges across the Country and additional20,000copiesoftheCSBookletweredistributedacrossmajorSchools&CollegesintheHindiBelt(CoveringStatesofUttarPradesh, Uttarakhand, Delhi, Chandigarh Punjab, Haryana,Bihar,Jharkhand,MadhyaPradesh&Chhattisgarh)

• TheICSIBookletpublishedbyCareers360MagazinewasalsosenttothealltheRegionalCouncilsandChapters.

(vii) Publicity Campaign on All India Radio & FM Radio Channels CS Radio Spots were broadcast during July-August 2016

to coincide with the cut-off date (s) for admission to CSFoundationProgramme.

(viii) Various Designing Assignments were undertaken by the Directorates

4ColourCSPamphlet,CSStudentAdvertisements,CSPamphletinHindi,CSFactsheet,ICSIGuidelinesforappointmentofICSICounsellors, 44th National Convention Brochure, CS Day2016, Corporate Governance Day, Swachhata Booklet, YogaBooklet,Udaan,ICSISignatureAward,VariousStandeesetc.,

Sponsorship for Mega Events : Organised for Advertising/ Sponsorship Support For Major ICSI Events CorporateMembershipofICSI.

(ix) Career Awareness 2550 Career Awareness Programmes were held across the

countrywith a view to attract best talent to the CS Coursewitha focusoncitiesand towns.CareerAwarenessWeeks I& IIwere organised in coordinationwith Regional Councils/ Chapters throughout the length& breadth of the country.TheInstitutealsoparticipatedinmorethan90CareerFairs/ExhibitionsacrossIndia.

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To popularise CS Course and attract young talent fromRemote/Rural/Mouffissil areas of the country the Instituteappointed232nos.ofICSICounsellors.

14. ICSI-CENTRE FOR CORPORATE GOVERNANCE, RESEARCH AND TRAINING (ICSI-CCGRT)

TheprimaryobjectiveoftheCentreistoactasacatalystorganisationin the professional development of the Indian corporate sectorthrough qualitative research and high level corporate trainingwith‘CorporateGovernance’asthethrustarea.Sinceitsinception,the Centre has undertaken a number of activities aimed towardsfosteringresearch.

(i) Professional Development Programmes

ICSI-CCGRTconductsProfessionalDevelopmentProgrammes(PDPs)for members, students, corporates and regulatory / governmentbodies.Apart fromprogrammesforupgradation/updationoftheknowledge base of Company Secretary functions, ICSI-CCGRT hasdesignedprogrammesforenablingCompanySecretariestoventuremoreeffectivelyintonewerareas.

ICSI-CCGRT provides reading material/backgrounders for theseprogrammes, generally based on in-house research. Some ofthesematerials include Compliancewith Listing Agreement, NewTakeoverCode(WithChecklistsandFormats),ScheduleIII,LabourLaws,BalanceSheetAnalysis,Shareholders’Agreement,SMEsandCompanySecretariesetc.

(ii) Integrated Company Secretaryship Course

Inorder to groom the studentsofCompanySecretaryshipCoursebetter tomeet the challenges of today and build a niche cadre ofgovernance professionals who can shoulder the responsibilitiesassigned to them in an evolving business environment andensure governance in true letter and spirit, Centre for CorporateGovernance, Research & Training (CCGRT) of the Institute ofCompanySecretariesofIndia(ICSI)isofferingthreeyearsIntegratedCompanySecretaryshipCourse(Full-Time).

This Course is being delivered by CCGRT at its premises in CBDBelapur, Navi Mumbai through Academia, Industry Experts andPractitioners. The Course inter-alia covers the syllabus of the CSCourseasnotifiedbyICSIfromtimetotime,focusingonexperientiallearning and, combining class room lectures, discussions, classexercises, case studies, mock meetings, industrial visits etc. andtraininginSoftskills,LeadershipTraitsandotherLifeSkills.Studentsare exposed to real life organisational situations, professionaldilemmasetc.toenablethemtodevelopholisticperspectivetowardsdecisionmakingandgovernance.Inaddition,CCGRTalsofacilitatesthefollowingforthestudentsofthisCourse:

• RegistrationandEnrollmentwithICSI• EducationalLoansfortheCourse• Internship/Training• HostelAssistancearoundCCGRTforoutstationcandidateson

request• PlacementAssistanceThis not only prepares the students to complete the CompanySecretaryship course, thereby making them eligible to be the

membersofICSIbutalsohelpsbuildtheirsoftskillsenablingthemtobethegovernanceleadersoftomorrow.(iii) Residential Management Skills Orientation Programme

(R-MSOP)An activity added to ICSI-CCGRT’s training initiatives for studentspursuingCompanySecretaryshipcourseisthroughtheResidentialManagement SkillsOrientationProgramme. ICSI-CCGRTorganizesResidentialMSOPswherestudentsfromalloverIndia,includingfromnon-metrocitiesandabroadparticipateandgettheopportunityforinteractionwitherudite. Inaddition to thecore subjectsofMSOP,the participants are also exposed to topics on soft skills, generalmanagement, human relations, financial markets etc. Studentsalso get an opportunity to enhance their communication skills,presentationskillsandpeerlearningthroughpresentationofgroupprojectsandcasestudiesbeforeapanelofexperts.ICSI-CCGRTwithits amenities, well designed programme schedule incorporatingvariedtopics,adeptfacultiespossessingrichexposureandexpertiseintheirrelatedfieldsandplacementassistanceisplayingapivotalroleincomprehensivelearningandprofessionalgrowth.(iv) Research Related ActivitiesInorder to fosterresearchamongCompanySecretariesandotherresearchers, ICSI-CCGRTwas entrusted with the responsibility ofadministeringtheICSIResearchInitiative.Thebasicideahasbeentodevelopsoundinformationbaseandinsightsintocorporate/relatedlaws,theirdeliverymechanism,needforharmonization/changesinthelightofemergingrealities,corporategovernanceetc.,andtousethedevelopedknowledgebase for brandbuilding and interactingwiththeGovernment,regulatoryandinternationalagencies.CCGRThas,sinceinception,completedanumberofcommissionedresearchprojectsforoutsideagencies/institutions.(v) Infrastructure facilitiesCCGRT possess the state-of-the-art infrastructure with air-conditioned and wi-fi enabled lecture theatres, conference room,faculty room and a high seating capacity auditorium. Further, ithas twenty two well furnished air-conditioned rooms for stayarrangements of RMSOP and Research colloquium/workshopparticipants.CCGRTe-Bulletin‘Chintanam’,whichhasbeenstartedfromApril 2017, is theoneof the significant steps taken in2017towards wide dissemination of wisdom among governanceprofessionals.CCGRTalsostartedseriescalled‘GyanJyoti’,wherein,CCGRTprovidewrite-upsandresearcharticlesonvariouscontemporarytopics.Nectar(AMRUT)ofGovernance-Governanceisapartandparcelofourexistence.Theactualpurposeofanygovernanceissustenanceand prosperity of the governed subjects. Self-governance, familygovernance, corporate governance, state governance or for thatmatter any type of governance ismainly aimed at welfare of thehumancapital.“Thoughhumanbeingoranylivingentitydoesn’twanttobegovernedbysomeoneandwantstobehaveindependently,onlyauthenticandtime tested governance makes life sustainable and prosperous.Thus,itcanbetermedasnectar,becauseitawardspermanencytotheperishableordestructiblesystems.However,whentheintendedpurposeof providing sustainability andprosperity by governance

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in the Institute’swebsitewith the facilityof receivingsuggestions/ feedback systemand testimonial form.Anexclusive childportalthrough a separate domain was launched for the Institute’s ‘CSOlympiad’ initiative. A child portal in the Institute’s websitefor celebrating student month was launched. Financial servicee-helpdesk application to receive views, feedback, queries andsuggestions on the Institute’s website was implemented. QuickLinks to view credit hours, online membership fee payment ande-cartserviceswereimplementedonthewebsiteoftheInstitute.Asapartof the initiative tobring in improvement in the internalworking of the Institute, Visitor’s Entry Gate Pass System wasimplementedforICSIheadquarterandICSINoidaOfficetoaddresssecurity concerns. A Data Extraction utility was developed andimplementedtoensuretheaccuracyandtimelydeliveryofmember’sdatatotheMinistryofCorporateAffairs.As a part of the new initiatives, Online Student Registration andEnrolment alongwith its associatedactivities,E-cart servicesandadditionalpaymentgatewayofKotakMahindraBankwerelaunchedthrough ambitious SMASH project. ERP software was upgradedfromOracleAppsversion12.0.6toversion12.1.3.Onlinebookingfacility for CS Acceleration Centre (CSAC) was launched. A MOUManagementApplicationSoftwarewasdevelopedandimplementedtobringinallMOUsoftheInstituteintoasingleplatformandmakethemdynamicallyavailabletothestakeholdersthroughthewebsite.KnowYourMember(KYM)onlineProformawaslaunched.ReceiptAccounting System (RAS) was upgraded to facilitate paymentthrough Point of Sale (POS) swapping machines. Online Resultfor June, 2016 and December, 2016 examination sessions weredeclared successfully. Members were facilitated to retrieve theirpassword in the form of SMS in their registered mobile number.Online membership fee payment facility for the members underconcessionalcategoryandOnlineForm-DsubmissionfacilityforthePractisingmemberswereimplemented.Online services for the students to submit request for trainingand for the companies/PCS to select these trainees as per theirrequirements were developed as a part of celebrating trainingmonthunderthebannerASCENTIA2016.OnlinevalidationforthemembersthroughApplicationProgrammingInterface (API) in respect of Compliance Management and AuditConfigurator(CMAC)Softwarewasimplemented.Aseparatecloudbased mailing system under icsiipa.com domain was facilitatedfor ICSIIPA. An exclusive website for ICSIIPA was developed andlaunched.ITIL(InformationTechnologyandInfrastructureLibrary)Trainingfor IT Officials was arranged tomake them aware of the variousstandardpracticesintheITsector.E-MSOPprogramhadbeen launchedwitha facility todeliver it ina completely digital self-paced learning mode. E-magazine withflappable pages for the Institute’s monthly Chartered Secretarymagazinehadbeen launched. ICSIhadtakenthe initiative tostarte-learningtoprovidestudentswithmultiplelearningopportunitiesandservicesanytime,anywhereand inmultiplemodalities.Theseserviceswillincludewelldefinededucationalpathwaysandstudent/teacher’ssystemsthatwillhelpallstudentsachievetheirindividualacademic goals. ICSI had taken an initiative of setting up Video

isnotachieved, itwillbetermedaspoison,notnectar.This is thegeneral experience in autocratic governance. But, any governanceprinciple derived and implemented, based on Vedic scriptures,willbewellacceptedbyoneandall,irrespectiveoftimeandspace,thusbecomingtrulythenectar.”Thusinordertocreateawarenessamongthestakeholders,CCGRThavetakeninnovativeapproachofpublishingNectar.Keeping this in view, CCGRT started the initiative named ‘AmrutDhara’,on12thMay,2017.In ‘AmrutDhara’,wearepublishingthearticles on Corporate Governance andManagement from AncientIndia&IndianEpic.In order to create awareness among Governance Professionals,Doyensofindustry,Professionalsrepresentingvariousprofessionalbodies and students pursuing Company Secretary and otherprofessionalcoursesregardingbriefof‘PremieronCompanyLaw’,CCGRThavelaunchedaninitiativenamed“GEETASAAR”.Recently ICSI-CCGRT conducted Research on a project titled “A Study on the Level of Compliance to Commodity Risk Disclosure Regulations in India & Abroad” given by Multi CommodityExchangeof IndiaLtdand ICSI-CCGRThas successfully completedtheresearchproject.15. Report of Cases filed & their disposal under The Sexual Harassment of Women at Workplace (Prevention, Prohibition & Redressal) Act, 2013 for the year 2016

S. No.

Description HQ NIRO & its

Chapters

EIRO& its Chapters

WIRO& its

Chapters, ICSI-

CCGRT

SIRO & its

Chapters

01 Numberofcomplaintsofsexualharassmentreceived

1 Nil Nil 1 Nil

02 Numberofcomplaintsdisposedoff

1 NotApplicable

NotApplicable

1 Nil

16 INFORMATION TECHNOLOGYThe Institute has adopted Information Technology in a big wayin all spheres of its activities to cater to the growing number ofstakeholdersandbringinimprovementinservices.Withthisoverallobjective,DirectorateofInformationTechnologyhasbeenentrustedwith the responsibility of harnessing the potential of Informationand Communication Technologies (ICT) and automating theprocesses for the stakeholders so that themembers and studentscanavailtheservicesanytimeandanywhere.SincetheDigitalIndiaprogramme is a flagship programme of the Government of IndiawithavisiontotransformIndiaintoadigitallyempoweredsocietyandknowledgeeconomy, the Institutes hasalsobeenreinventingitselftoprovideenhancedservicesbytakinginitiativeslikeonlinetraining; e-learning, Video Conferencing & Webcasting solution,VirtualClassroom,e-magazine,e-libraryetc.Website and Mobile Apps are the face of the Website. WebsiteHome Page and ‘CS Touch’ Mobile Apps were revamped with animpressive look and feel. President’s portal/Cornerwas launched

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Conferencing board rooms’ solution at selected locations with aprovisionofwebcastandalsotoattendthemeetingfromanywhere.Realizingthegrowingneedsofupgradingtheacquiredknowledge,ICSIhadprovidedE-library services to itsMembers andStudentsspread across the length& breadth of the country. To strengthenitfurther,itisbeingplannedtointegrateitwiththepowerfulLMSforbetterservices.Anumberofothereducationresourceswillalsobeintegratedtotheplatformtoenrichitsofferings.Itwill includeaudio conversion of Chartered Secretary for a different learningexperience.17. FUTURE OUTLOOKThe CS Profession in place for many years has undergonemajormetamorphosis in terms of the profile of Company Secretariesand the content of services provided to the Corporate World.Transformation driven by change requires sustained efforts tosucceed and brings forth better response to evolving situationsleadingtoimprovedperformance.Inthecontextualchangewhichisunderway,CompanySecretariesarepoisedforamuchsubstantiverole necessitating a complete overhaul of the mindset. Thisagain calls for determination to challenge the status quo and therecognitiontoadapttothedynamicrealities.Theneedtoperformtheroleofgovernanceprofessionalsandkeymanagerialpersonnelrequiresmuch-neededtransformationinallofus.Thereisnodenythe fact thatwe live in awirelessbut integrated flatworldwhichprovidessimultaneouslyboththeopportunitiesandchallengesforprofessionalsasneverwitnessedbefore,moresofortheprofessionof Company Secretaries. Globalisation is here to stay and theopportunitiescanbestbecapitalizedonlythroughengagement,notexclusionandbyidentifyingandbuildingoncompetitiveadvantages.Itisthetime,weshouldoccupytherightfulplaceintheCorporateBoardroomsforwhichweneedtoimbibeprofessionalism,learnourlessonsfastandmakeanindelibleimpactinourrespectivejobs.Fusionoftechnologywithknowledgetowardsbuildinghighcaliberregulated professionals to meet the need of corporate India willdefinitely place the Institute many steps ahead of others in thefuturetocome.

18. ACKNOWLEDGEMENTSTheCouncilplacesonrecorditsgratitudetothevariousMinistriesandOfficesoftheCentralGovernment,particularlytheMinistryofCorporateAffairs,MinistryofFinanceandChiefMinistersofStates,SEBI,RBI,StockExchanges,andotherregulatoryauthoritiesfortheirhelp,guidanceandsupportfordevelopmentoftheprofessionandencouragingtheactivitiesoftheICSIduringtheyear. TheCouncilisalsogratefultovariousStateGovernments,Financial/Industrial/Investment Institutions/ Corporate Sector, various Chambers ofCommerce, Trade Associations and other Agencies in general inavailingtheservicesofmembersoftheInstituteandinrecognizingtheirexpertise.The Council also places on record its deep appreciation to themembers of the Secretarial Standards Board, Quality ReviewBoard, Peer Review Board, Editorial Advisory Board, ExpertAdvisoryBoard,JuryfortheICSINationalAwardsforExcellenceinCorporateGovernance,ExpertGrouptofinalizetheQuestionnairesfor ICSINational Awards for Excellence in Corporate Governance,DisciplinaryCommitteeandBoardofDisciplineoftheInstitutefortheircontinuousandsincereguidanceandsupport. Italsoplaceson record its thanks to the Regional Councils and Chapters forextending their co-operation and support and also to theOfficersand Staff of the Institute for their unbridled commitment andboundlessenthusiasm.

For and on behalf of the Council

CS (Dr.) Shyam AgrawalPresident

NewDelhi26thSeptember,2017

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Appendix – ‘A’CONSTITUTION OF COMMITTEES1. Executive CommitteeSl.No Name Position 1. ShyamAgrawal(Dr.) Chairman2. MakarandMLele Member3. AmardeepSinghBhatia Member(Govt.Nominee)4. MamtaBinani(Ms.) Member5. AhaladaRaoV Member6. AshishGarg Member7. RanjeetKumarPandey Member2. Finance Committee Sl.No Name Position 1. ShyamAgrawal(Dr.) Chairman2. MakarandMLele Member3. YamalAVyas Member(Govt.Nominee)4. AhaladaRaoV Member5. AshishCDoshi Member6. RajivBajaj Member7. SantoshKumarAgrawala Member3. Examination CommitteeSl.No Name Position 1. ShyamAgrawal(Dr.) Chairman2. MakarandMLele Member3. GopalKrishnaAgarwal Member(Govt.Nominee)4. GopalakrishnaHegde Member5. RanjeetKumarPandey Member6. C.Ramasubramaniam Member7. SantoshKumarAgrawala Member4. Financial Services Committee Sl.No Name Position 1. MahavirLunawat Chairman2. AshishCDoshi Member3. AshishGarg Member4. RajivBajaj Member5. C.Ramasubramaniam Member6. SatwinderSingh Member7. SantoshKumarAgrawala Member5. Corporate Laws and Governance Committee Sl.No Name Position 1. MakarandMLele Chairman2. MamtaBinani(Ms.) Member3. AshishCDoshi Member4. GopalakrishnaHegde Member5. MahavirLunawat Member6. RanjeetKumarPandey Member7. VineetK.Chaudhary Member8. C.Ramasubramaniam Member6. Professional Development CommitteeSl.No Name Position 1. ShyamAgrawal(Dr.) Chairman2. VijayKumarJhalani Member(Govt.Nominee)3. YamalAVyas Member(Govt.Nominee)4. AhaladaRaoV Member5. AshishCDoshi Member

6. AshishGarg Member7. GopalakrishnaHegde Member8. RajivBajaj Member9. SantoshKumarAgrawala Member10. AtulHMehta Member7. Training & Educational Facilities CommitteeSl. No Name Position 1. MakarandMLele Chairman2. AmardeepSinghBhatia Member(Govt.Nominee)3. GopalKrishnaAgarwal Member(Govt.Nominee)4. RajeshSharma Member(Govt.Nominee)5. MamtaBinani(Ms.) Member6. MahavirLunawat Member7. RanjeetKumarPandey Member8. C.Ramasubramaniam Member9. SatwinderSingh Member10. VineetK.Chaudhary Member8. Practising Company Secretaries Committee Sl.No Name Position 1. AshishCDoshi Chairman2. AhaladaRaoV Member3. GopalakrishnaHegde Member4. AtulHMehta Member5. RajivBajaj Member6. RanjeetKumarPandey Member7. SantoshKumarAgrawala Member8. VineetK.Chaudhary Member9. Information Technology CommitteeSl.No Name Position 1. C.Ramasubramaniam Chairman2. AshishCDoshi Member3. AshishGarg Member4. MahavirLunawat Member5. RajivBajaj Member6. RanjeetKumarPandey Member7. SatwinderSingh Member8. VineetK.Chaudhary Member10. Peer Review Board Sl. No Name Position 1. MakarandM.Lele Chairman2. GopalakrishnaHegde ViceChairman3. AshishGarg Member4. C.Ramasubramaniam Member5. RajivBajaj Member6. SatwinderSingh Member7. AnilMurarka Member8. AshokTyagi Member9. MilindB.Kasodekar Member10. SavithriParekh(Ms.) Member11. SudhirBabuC. Member11. Placement CommitteeSl. No Name Position 1. RajivBajaj Chairman2. AhaladaRaoV. Member3. AshishC.Doshi Member

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4. MahavirLunawat Member5. SatwinderSingh Member6. SantoshKumarAgrawala Member7. VineetK.Chaudhary Member12. PMQ Course CommitteeSl. No Name Position 1. RanjeetKumarPandey Chairman2. AshishGarg Member3. MahavirLunawat Member4. C.Ramasubramaniam Member5. SatwinderSingh Member13. ICSI-CCGRT Management CommitteeSl.No Name Position 1. AshishGarg Chairman2. GopalakrishnaHegde Member3. RajivBajaj Member4. C.Ramasubramaniam Member5. SatwinderSingh Member6. AtulH.Mehta Member7. KaushikJhaveri Member8. ManojSonawala Member9. OmPrakashBagdia Member10. BLJain Member11. SushilSamdhani Member12. RahulSharma Member13. VijayKumarJhalani Member(Govt.Nominee)14. Secretarial Standards BoardSl.No Name Position 1. PavanKumarVijay Chairman2. AnilKumarMurarka Member3. AmitGupta Member4. B.Shanmugasundaram Member5. DiptiMehta(Ms.) Member6. GeetikaAnand(Ms.) Member7. J.N.Gupta Member8. MilindBKasodekar Member9. N.Hariharan Member10. NarayanShankar Member11. ParvatheesamKanchinadham Member12. R.Ravi Member13. RajivBajaj Member14. RajuRanganathan Member15. S.CVasudeva Member16. S.H.Rajadhyaksha Member17. S.Sudhakar Member18. SavithriParekh(Ms.) Member19. SubhashC.Setia Member20. ShujathBinAli Member21. VineetK.Chaudhary Member22. RajendraSinghi Member23. C.S.Govindarajan RepresentativeofMCA24. C.D.Srinivasan RepresentativeofRBI25. GirishJoshi RepresentativeofBSE26. S.Madhavan RepresentativeofNSE27. B.Murli RepresentativeofFICCI28. G.P.Madaan Representativeof

ASSOCHAM

29. P.K.Rustagi RepresentativeofPHDChamberofCommerceandIndustry

30. K.Sripriya(Ms.) RepresentativeofICAI31. AmitAnandApte RepresentativeofICAI

(Cost)32. PradeepRamakrishnan RepresentativeofSEBI33. AjayVaidya RepresentativeofCII15. Expert Advisory Board Sl. No Name Position 1. GopalakrishnaHegde Chairman2. AbhishekChaudhary Member3. K.K.Rao Member4. MaheshAnantAthavale Member5. ManojMaheshwari Member6. MunishSharma Member7. NakulUpadhaya Member8. Dr.S.Chandrasekaran Member9. Dr.S.D.Israni Member10. SanjayKumarGupta

(Confirmationawaited)11. SureshSharma Member12. U.K.Chaudhary Member13. P.K.Malhotra Member14. R.Sridharan Member15. AnupamGarg Member16. RahulRanjan Member17. GajendraP.Singh Member18. PrakashR.Chennai Member19. SunilDuttVyas Member20. JayanKattiri Member21. G.V.SrinivasaMurthy Member22. SumanJyotiKhaitan Member23. JyotiVij(Ms.) Member24. RepresentativeofCII

(Confirmationawaited)16. Editorial Advisory BoardSl.No Name Position 1. SantoshKumarAgrawala Chairman2. AtmaRamGupta Member3. D.K.Jain(Dr.) Member4. G.R.Bhatia Member5. GopalJiwarajka Member6. H.M.Choraria Member7. J.K.Mittal Member8. N.K.Jain Member9. NirmalaRawat(Ms.) Member10. P.K.Mittal Member11. PrithviHaldea Member12. K.Narayanaswamy Member13. UdaiParnami Member14. V.K.Singhania Member15. R.C.Gupta Member17. Research CommitteeSl.No Name Position 1. AhaladaRaoV. Chairman

37th


23

2. MamtaBinani(Ms.) Member3. AshishC.Doshi Member4. AshishGarg Member5. MahavirLunawat Member6. RajivBajaj Member7. SatwinderSingh Member8. VineetK.Chaudhary Member18. Elections Reforms CommitteeSl. No Name Position 1. SatwinderSingh Chairman2. GopalakrishnaHegde Member3. MahavirLunawat Member4. RajeshSharma Member5. C.Ramasubramaniam Member6. SantoshKumarAgrawala Member7. VineetK.Chaudhary Member8. AtulH.Mehta Member19. Disciplinary CommitteeSl. No Name Position 1. ShyamAgrawal(Dr.) PresidingOfficer2. NalinKohli Member(Govt.Nominee)3. MeenaskhiDattaGhosh Member(Govt.Nominee)4. AhaladaRaoV. Member5. SantoshKumarAgrawala Member20. Board of Discipline Sl. No Name Position 1. AshishCDoshi PresidingOfficer2. C.Ramasubramaniam Member3. DineshCArora Member21. Quality Review BoardSl. No Name Position 1. KiranOberoiVasudev(Ms.) Chairperson2. VithayathilKurian Member3. IIamKamboj Member4. NavneetChouhan Member5. VineetK.Chaudhary Member22. Syllabus Review Board Sl. No Name Position 1. C.Ramasubramaniam Chairman2. YamalA.Vyas Member(Govt.Nominee)3. AshishC.Doshi Member4. MahavirLunawat Member5. RanjeetKumarPandey Member

6. AtulH.Mehta Member23. Regulations and Chapter Guidelines Reforms CommitteeSl.No Name Position 1. MakarandM.Lele Chairman2. VijayKumarJhalani Member(Govt.Nominee)3. AhaladaRaoV. Member4. GopalakrishnaHegde Member5. SantoshKumarAgrawala Member6. VineetK.Chaudhary Member24. Auditing Standards BoardSl. No Name Position 1. VineetK.Chaudhary Chairman2. AmitGupta Member3. AmitKumarJain Member4. AnilKhaitan Member5. AnshulKumarJain Member6. BimanDebnath Member7. C.Ramasubramaniam Member8. DeveshKumarVasisht Member9. HimanshuS.Kamdar Member10. ManojRajaramHurkat Member11. MunishKumarSharma Member12. ParagInamdar Member13. PrachetaM. Member14. P.K.Krishnamurthy Member15. RacharlaRamakrishnaGupta Member16. RupeshAgarwal Member17. S.Bhaskar Member18. SachinAgarwal Member19. SanjayJain Member20. SanjayRathi Member21. SiddharthaMurarka Member22. SwayambhuKedarnath Member23. TimirBaranChatterjee Member24. VidyaJoglekar Member25. VijaySharma Member26. President,ICSI Ex-officio27. VicePresident,ICSI Ex-officio25. Brand Promotion & PR CommitteeSl. No Name Position 1. RanjeetKumarPandey Chairman2. AtulH.Mehta Member3. AshishGarg Member

37th


24

NOMINATIONS ON VARIOUS OUTSIDE COMMITTEES

Sl. No Name of the Committee/institution Institute’s Representative on the Committee in year 2017

1. NationalAdvisoryCommitteeonAccountingStandards(NACAS)-MCA

CS(Dr.)ShyamAgrawal,President

2. AccountingStandardsBoard,ICAI CSAshishCDoshi,CouncilMember

3. CostAccountingStandardsBoard,ICoAI CSAshishGarg,CouncilMemberCSVineetKChaudhary,CouncilMember

4. CostAuditandAssuranceStandardsBoard,ICoAI CSAshishGarg,CouncilMemberCSVineetKChaudhary,CouncilMember

5. GoverningCounciloftheNationalfoundationforcorporateGovernance(NFCG)


6. BoardoftrusteesoftheNationalfoundationforCorporateGovernance(NFCG)

CSDineshCArora

7. Indo-UKTaskforceonCorporateAffairs,MCA CS(Dr.)ShyamAgrawal,PresidentCSCRamasubramaniam,CouncilMemberCSSantoshKumarAgrawala,CouncilMemberCSSatwinderSingh,CouncilMember

8. Indo-UKAccountancyTaskForce,ministryofCommerce&Industry


9. CorporateSecretariesInternationalAssociation(CSIA) CS(Dr.)ShyamAgrawal,PresidentCSAtulHMehtaPastPresident&CouncilMember

10. TheAssociatedChambersofCommerceandIndustryofIndia-Merger&AcquisitionCouncil

CSRanjeetKumarPandey,CouncilMemberCSMahavirLunawat,CouncilMember

11. TaskforcewithregardtotheplanbudgetoftheMCAforthe12thfiveyearplan

CS(Dr.)ShyamAgrawal,PresidentCSMakarandMLele,VicePresidentCSGopalakrishnaHedge,CouncilMember

12. CommitteetoidentifythetaxissuesarisingoutofconvergencebetweenthecompaniesAct,1956,IFRS,DTCandGSTandmattersrelatedthereto


13. TheNewIndiaMembershipDevelopmentCommitteeofINSOL,international


14. WorkingGroupconstitutedintheareaofCorporateGovernanceandCorporateSocialResponsibilityasperprovisionsofLOIsignedbetweenIndia-Netherlands


15. AdvisoryGrouptotheGRIfocalpointIndia CS(Dr.)ShyamAgrawal,President

16. IECofIndianbankAssociation CS(Dr.)ShyamAgrawal,President

37th


25

APPE

ND

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Dr.Shyam

Agrawal

77

87

54

74

32

2Mr.MakarandMLele

77

22

54

11

3Mr.AtulHMehta

77

64

31

4Mr.AmardeepSinghBhatia

72

81

5Mr.AhaladaRaoV

77

22

54

1915

32

6Mr.AshishCDoshi

76

53

10

10

7Mr.AshishGarg

77

84

10

31

8Mr.CRamasubramaniam

77

65

76

11

42

9Mr.GopalKrishnaAgarwal

72

70

10Mr.GopalakrishnaHegde

77

10

42

11Mr.MahavirLunawat

75

60

11

11

12Ms.Mam

taBinani

77

87

33

66

1615

10

13Mr.RajivBajaj

76

52

11

14Mr.RajeshSharma

74

15Mr.RanjeetKum

arPandey

77

22

77

43

16Mr.SantoshKumarAgrawala

77

21

74

1913

10

17Mr.SatwinderSingh

76

11

18Mr.VineetK.Chaudhary

77

66

44

19Mr.VijayKum

arJhalani

76

20Mr.YamalAVyas

77

51

21Mr.DineshCArora

22Mr.NalinKohli

1918

23Ms.MeenakshiDattaGhosh

1919

24Mr.AnilMurarka

25Mr.AshokTyagi

26Mr.MilindBKasodekar

27Ms.SavithriParekh

28Mr.SudhirBabuC

29Ms.KiranOberoiVasudev

30Mr.VithayathilKurian

31Mr.IIamKam

boj

32Mr.NavneetChouhan

33Mr.AMBajaj

DatesofM

eetings

03.06.2016,

16.06.2016,

17.09.2016(Adj.)

17.09.2016,

20.11.2016,

18.01.2017,

19.01.2017,

27.03.2017

15.06.2016,

27.08.2016,

16.09.2016,

13.10.2016

20.11.2016,

17.01.2017,

18.02.2017,

22.03.2017

13.07.2016,

31.08.2016,

16.09.2016,

18.02.2017,

21.03.2017

7-8.04.2016,

23.06.2016,

09.08.2016,

30.09.2016

01.10.2016,

23.12.2016,

17.01.2017,

17.02.2017

08.07.2016,

09.07.2016,

29.07.2016,

26.08.2016,

27.08.2016,

19.09.2016,

07.10.2016

11.11.2016,

12.11.2016,

19.11.2016,

02.12.2016,

19.12.2016,

24.12.2016,

27.12.2016,

10.01.2017,

16.01.2017,

24.03.2017,

25.03.2017,

28.03.2017

20.02.2017

26.05.2016,

13.10.2016,

11.11.2016,

20.02.2017

37th


26

APPE

ND

IX –

BD

etai

ls o

f att

enda

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of M

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rs a

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Cou

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Dr.Shyam

Agrawal

33

22

2Mr.MakarandMLele

20

11

3Mr.AtulHMehta

21

31

30


40

5Mr.AhaladaRaoV

33

33

22

6Mr.AshishCDoshi

20

33

11

22

7Mr.AshishGarg

31

22

20

22

41


42

22

11

11


40


20

10

20

10

31

11Mr.MahavirLunawat

41

20

21

11

12Ms.Mam

taBinani

22

11

13Mr.RajivBajaj

22

31

20

21

11

14Mr.RajeshSharma

20

10

15Mr.RanjeetKum

arPandey

43

32

21

44

16Mr.SantoshKumarAgrawala

32

33

10

17Mr.SatwinderSingh

20

11

11

21

21

43


22

11

33

22

11

19Mr.VijayKum

arJhalani

11

20Mr.YamalAVyas

20

21Mr.DineshCArora

22Mr.NalinKohli


24Mr.AnilMurarka

22

25Mr.AshokTyagi

22


21

27Ms.SavithriParekh

20

28Mr.SudhirBabuC

22



31Mr.IlamKam

boj

32Mr.NavneetChouhan

33Mr.AMBajaj

DatesofM

eetings

15.06.2016,

15.09.2016

04.06.2016,

26.08.2016,

05.01.2017,

21.03.2017

26.05.2016,

11.08.2016,

19.01.2017

23.12.2016,

27.02.2017

12.05.2016,

24.09.2016

21.07.2016,

04.03.2017

18.05.2016,

26.08.2016,

12.01.2017,

20.02.2017

37th


27

APPE

ND

IX –

BD

etai

ls o

f att

enda

nce

of M

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rs a

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Cou

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Sta

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and

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Dr.Shyam

Agrawal

11

2Mr.MakarandMLele

10

11

21

3Mr.AtulHMehta

21

10

22


5Mr.AhaladaRaoV

33

11

11

10

6Mr.AshishCDoshi

44

11

10

7Mr.AshishGarg

21


44

21

22

21

10



21

21

11Mr.MahavirLunawat

10

10

12Ms.Mam

taBinani

20

13Mr.RajivBajaj

11

14Mr.RajeshSharma

10

15Mr.RanjeetKum

arPandey

33

11

11

16Mr.SantoshKumar

Agrawala

11

10

21

17Mr.SatwinderSingh

20

22


11

22

22

21

11

19Mr.VijayKum

arJhalani

20Mr.YamalAVyas

21Mr.DineshCArora

43

22Mr.NalinKohli


24Mr.AnilMurarka

25Mr.AshokTyagi


27Ms.SavitriParekh

28Mr.SudhirBabuC


22


11

31Mr.IIamKam

boj

22

32Mr.NavneetChouhan

22

33Mr.AMBajaj

10

DatesofM

eetings

13.10.2016,

23.12.2016,

11.01.2017,

27.02.2017

23-24.07.2016,

15-16.10.2016,

06-07.01.2017

03.12.2016

11.06.2016,

05.03.2017

30.08.2016

29.12.2016,

27.02.2017

14.06.2016,

03.11.2016

01.07.2016,

02-03.12.2016

01.06.2016

16.09.2016(Adj.)

37th


28

APPENDIX – CLIST OF CITIES FOR EXAMINATION DURING THE YEAR 2016-2017

Sl. No. Examination City Sl. No. Examination City Sl. No. Examination City1 AGRA 41 GUWAHATI 81 PANIPAT2 AHMEDABAD 42 GWALIOR 82 PATNA3 AHMEDNAGAR 43 HISAR 83 PIMPRI-CHINCHWAD4 AJMER 44 HOOGHLY 84 PUDUCHERRY5 AKOLA 45 HOWRAH 85 PUNE6 ALLAHABAD 46 HUBLI-DHARWAD 86 RAIPUR7 ALWAR 47 HYDERABAD 87 RAJKOT8 AMBALA 48 INDORE 88 RANCHI9 AMRAVATI 49 JABALPUR 89 ROURKELA10 AURANGABAD 50 JAIPUR 90 SAGAR11 BANGALORE 51 JALGAON 91 SALEM12 BAREILLY 52 JALLANDHAR 92 SATARA13 BEAWER 53 JAMMU 93 SHIMLA14 BELGAUM 54 JAMNAGAR 94 SIKAR15 BHAYANDER 55 JAMSHEDPUR 95 SILIGURI16 BHILAI 56 JHANSI 96 SONEPAT17 BHILWARA 57 JHUNJHUNU 97 SRINAGAR18 BHOPAL 58 JODHPUR 98 SURAT19 BHUBANESWAR 59 KANPUR 99 THANE20 BIKANER 60 KOLHAPUR 100 THIRUVANANTHAPURAM21 BILASPUR 61 KOLKATA(NORTH) 101 THRISSUR22 CALICUT 62 KOLKATA(SOUTH) 102 TIRUCHIRAPALLI23 CHANDIGARH 63 KOTA 103 UDAIPUR24 CHENNAI 64 KOTTAYAM 104 UJJAIN25 CHITTORGARH 65 LUCKNOW 105 VADODARA26 COIMBATORE 66 LUDHIANA 106 VARANASI27 DEHRADUN 67 MADURAI 107 VIJAYAWADA28 DELHI(EAST) 68 MANGALORE 108 VISAKHAPATNAM29 DELHI(NORTH) 69 MEERUT 109 YAMUNANAGAR30 DELHI(SOUTH) 70 MUMBAI-I(CG) 110 PATIALA*31 DELHI(WEST) 71 MUMBAI-II(GTK) 111 ROHTAK*32 DHANBAD 72 MUMBAI-III(JOG.) 112 TUMKUR*33 DUBAI 73 MUZAFFARNAGAR 113 ASANSOL*34 ERNAKULAM 74 MYSORE 114 DURGAPUR*35 FARIDABAD 75 NAGPUR 115 SURENDRANAGAR*36 GANDHINAGAR 76 NASHIK37 GHAZIABAD 77 NAVIMUMBAI38 GORAKHPUR 78 NOIDA39 GUNTUR-AMARAVATI 79 PALI40 GURGAON 80 PANAJI

*FoundationProgrammeExaminationonly

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APPENDIX – DSTATISTICS ON EXAMINATION RESULTS JUNE, 2016 SESSION

STAGE OF EXAMINATION NUMBER OF CANDIDATESENROLLED APPEARED PASSED

FOUNDATIONPROGRAMME 15696 14727 9707EXECUTIVE PROGRAMME *

MODULE-I 45451 34909 3329MODULE-II 37726 28946 3713

PROFESSIONAL PROGRAMME (O/S)$MODULE-I 6234 4601 1445MODULE-II 9805 7808 2234MODULE-III 12389 10058 4568MODULE-IV 8064 6320 1617

PROFESSIONAL PROGRAMME (N/S)#MODULE-I 15261 12208 2138MODULE-II 11837 9034 1559MODULE-III 12800 10239 2262

* 21559 Candidates enrolled,17965 Candidates appeared forBothModules of Executive Programme out ofwhom677candidatespassedBothModules.

$ 1267Candidatesenrolled,1004CandidatesappearedforAllModulesofProfessionalProgramme(OldSyllabus)outofwhom25candidatespassedAllModules.

# 5023Candidatesenrolled,4508CandidatesappearedforAllModulesofProfessionalProgramme(NewSyllabus)outofwhom229candidatespassedAllModules.

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APPENDIX – DSTATISTICS ON EXAMINATION RESULTS DECEMBER, 2016 SESSION

STAGE OF EXAMINATION NUMBER OF CANDIDATESENROLLED APPEARED PASSED

FOUNDATIONPROGRAMME 13701 12786 8465EXECUTIVE PROGRAMME *

MODULE-I 43690 32822 3617MODULE-II 35337 25944 3494

PROFESSIONAL PROGRAMME #MODULE-I 25026 19269 4076MODULE-II 20770 15453 3365MODULE-III 20212 15656 3197

* 20755 Candidates enrolled,16982 Candidates appeared forBothModules of Executive Programme out ofwhom817candidatespassedBothModules.

# 8776Candidatesenrolled,7581CandidatesappearedforAllModulesofProfessionalProgrammeoutofwhom310candidatespassedAllModules.

APPENDIX – EPOST MEMBERSHIP QUALIFICATION (PMQ) EXAMINATIONS RESULTS

JUNE, 2016 SESSION

NAME OF PMQ COURSE NUMBER OF CANDIDATESENROLLED APPEARED PASSED

CorporateGovernance(Part-I) 8 7 4CorporateRestructuringandInsolvency(Module-A)

3 1 0

CompetitionLaw(Part-I) 1 1 1

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31

CA Bansal Sinha & Co.CharteredAccountants

INDEPENDENT AUDITOR’S REPORTTO THE MEMBERS OF COUNCIL OF

THE INSTITUTE OF COMPANY SECRETARIES OF INDIA

Report on the Consolidated Financial Statements Wehave audited the accompanying Consolidated Financial Statements ofThe Institute of Company Secretaries of India(“TheInstitute”)whichcomprisetheConsolidatedBalanceSheetasat31stMarch2017,theConsolidatedIncome&ExpenditureAccount,theConsolidatedCashFlowStatementfortheyearthenended,andasummaryofsignificantaccountingpoliciesandotherexplanatoryinformation(hereinafterreferredtoas“theConsolidatedFinancialStatements”)inwhichareincorporatedaudited accounts ofHeadQuarter of Institute, Institute’sCentre forCorporateGovernanceResearch andTraining (CCGRT),Four Regional Offices and 69 Chapters. The Accounts of the Institute’s Centre for Corporate Governance Research andTraining(CCGRT),FourRegionalOfficesand69Chapterswhosefinancialstatementsreflecttotalassetsof`53.29Croresasat31stMarch2017,totalrevenuesof`23.25Croresandnetcashinflowsamountingto 1.08Croresfortheyearendedonthatdate,asconsideredintheconsolidatedfinancialstatementshavebeenauditedbyotherAuditorsexceptfinancialstatementofonenewlyopenedAmravatichapterwhichhasbeencertifiedbythemanagementandtheirreportshavebeenincorporatedanddulyconsideredwhilepreparingourreport.

Management Responsibility for the Financial Statements TheInstituteManagementisresponsibleforthepreparationoftheseconsolidatedfinancialstatementsinaccordancewiththeCompanySecretariesAct,1980(“theAct”) thatgivea trueand fairviewof theconsolidated financialposition,consolidatedfinancial performance and consolidated cash flows of the Institute in accordance with the accounting principles generallyacceptedinIndia.ThisresponsibilityincludesmaintenanceofadequateaccountingrecordsforsafeguardingtheassetsoftheInstituteandforpreventinganddetectingfraudsandotherirregularities;theselectionandapplicationofappropriateaccountingpolicies;makingjudgmentsandestimatesthatarereasonableandprudent;andthedesign,implementationandmaintenanceofinternalcontrol,thatwereoperatingeffectivelyforensuringtheaccuracyandcompletenessoftheaccountingrecords,relevanttothepreparationandfairpresentationofthefinancialstatementsthatgiveatrueandfairviewandarefreefrommaterialmisstatement,whetherduetofraudorerror.

Auditors’ Responsibility Ourresponsibilityistoexpressanopinionontheseconsolidatedfinancialstatementsbasedonouraudit.WeconductedourauditinaccordancewiththeStandardsonAuditingissuedbytheInstituteofCharteredAccountantsofIndia.ThoseStandardsrequirethatwecomplywithethicalrequirementsandplanandperformtheaudittoobtainreasonableassuranceaboutwhetherthefinancialstatementsarefreefrommaterialmisstatement.

An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the consolidatedfinancial statements. The procedures selected depend on the auditor’s judgment, including the assessment of the risks ofmaterialmisstatementofthefinancialstatements,whetherduetofraudorerror.Inmakingthoseriskassessments,theauditorconsidersinternalcontrolrelevanttotheInstitute’spreparationandfairpresentationofthefinancialstatementsinordertodesignauditprocedures thatareappropriate in thecircumstancesbutnot for thepurposeofexpressinganopinionon theeffectivenessoftheInstitute’sinternalcontrol.Anauditalsoincludesevaluatingtheappropriatenessofaccountingpoliciesusedandthereasonablenessoftheaccountingestimatesmadebymanagement,aswellasevaluatingtheoverallpresentationofthefinancialstatements.

18/19,OldRajinderNagar,NewDelhi-110060Ph.No.:011-25722270,25853424

E-mail:[email protected]:www.bansalsinha.com

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32

Webelievethattheauditevidencewehaveobtainedissufficientandappropriatetoprovideabasisforourauditopinionontheconsolidatedfinancialstatements.

Auditors’ OpinionSubjecttomattersasreportedhereinafter,wereportthatinouropinionandtothebestofourinformationandaccordingtotheexplanationsgiventousandreadwithothernotesonaccountsandmattersdescribedintheemphasisofmatterbelow,theaforesaidconsolidatedfinancialstatementsgivetheinformationrequiredbytheCompanySecretariesAct.,1980inthemannersorequiredandgiveatrueandfairviewinconformitywiththeaccountingprinciplesgenerallyacceptedinIndia:

i. inthecaseoftheBalanceSheet,ofthestateofaffairsoftheICSIasat31stMarch2017;ii. inthecaseofIncomeandExpenditureAccount,oftheSurplusoftheICSIfortheyearendedonthatdate.iii. inthecaseoftheCashFlowStatement,oftheCashFlowfortheyearendedonthatdate.

Emphasis of Mattera) Refertonoteno.10ofNote21(B)NotesonAccountsregardingStandaloneFinancialStatementsofWIRO.b) ReferNoteNo.6ofNote21(B)w.r.t.balanceofvariouspartiesandInterUnitbalancesofHQ/RC/chaptersaresubjectto

Reconciliationandtheirconfirmations.

Report on Other Legal and Regulatory RequirementsFurthersubjecttomattersunderaboveparawereportthat:-

a. wehaveobtainedalltheinformationandexplanationswhichtothebestofourknowledgeandbeliefwerenecessaryforthepurposeofouraudit;

b. the Balance Sheet, the Income and Expenditure Account and Cash Flow Statement dealt with by this Report are inagreementwiththebooksofaccount;

c. inouropinionproperbooksofaccountsaremaintainedinconformitywithrequirementoftheCompanySecretariesAct,1980byalltheunitssubjecttoobservationsasstatedinnoteno.10ofNote21(B)NotesonAccountsregardingWIRO;

d. we have received the audited accounts of Centre for Corporate Governance Research and Training (CCGRT) andconsolidatedauditedaccountsofFourRegionalCouncilsandthesamehavebeendealtwithbyusinourreport;

e. in our opinion, the Balance Sheet, the Income and Expenditure Account and Cash Flow Statement comply with theapplicableAccountingStandardsissuedbyInstituteofCharteredAccountantsofIndia;

f. The Institute did not have any long-term contracts including derivative contracts forwhich therewere anymaterialforeseeablelosses.

ForBANSALSINHA&CO.

CHARTEREDACCOUNTANTS

PLACE:NewDelhi FRNWithICAI006184N

DATE:26thSeptember,2017

(NishantChaudhary)Partner

M.No.513802

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33

THE INSTITUTE OF COMPANY SECRETARIES OF INDIA BALANCE SHEET AS AT 31st MARCH,2017

(Amount in `)PARTICULARS NOTE NO. As at 31st March 2017 As at 31st March 2016I. SOURCES AND LIABILITIES

(1) Reserves&Surplus (a) Reserve&Surplus 1 5,82,53,92,033 4,97,20,29,352(b) EarmarkedFunds 2 1,54,49,57,510 1,75,41,91,943

Sub-Total(1) 7,37,03,49,543 6,72,62,21,295(2) Non-CurrentLiabilities

(a) LongTermBorrowings - -(b) LongTermLiabilities - -(c) LongTermProvisions - -

Sub-Total(2) - -(3) CurrentLiabilities

(a) ShortTermBorrowings - -(b) SundryCreditors 3 16,01,25,824 12,78,37,567(c) OtherCurrentLiabilities 4 21,87,03,740 24,39,69,517(d) ShorttermProvisions 5 1,06,63,520 5,79,52,677

Sub-Total(3) 38,94,93,084 42,97,59,761TOTAL (1) + (2) + (3) 7,75,98,42,627 7,15,59,81,056

II. ASSETS (1) Non-currentAssets

(a) FixedAssets 6(i) TangibleAssets 94,53,95,551 78,20,06,434(ii) IntangibleAsssets 25,68,178 25,88,022(iii) CapitalWorkinProgress 27,91,02,329 8,28,61,271(iv) IntangibleAssetsunderdevelopment - 8,331

Sub-Total(a) 1,22,70,66,058 86,74,64,058(b) Non-currentInvestments 7 4,72,15,89,596 4,25,84,45,153(c) LongTermLoanandAdvances 11,66,232 1,59,35,858(d) OtherNon-CurrentAssets 85,32,600 2,09,63,198

Sub-Total(1) 5,95,83,54,486 5,16,28,08,267(2) CurrentAssets

(a) CurrentInvestments 8 75,72,90,737 1,14,73,00,776(b) Inventories 9 34,83,814 63,99,681(c) SundryDebtors 10 45,67,818 1,07,58,875(d) CashandCashEquivalents 11 17,01,51,904 13,09,31,272(e) ShorttermsLoansandAdvances 12 8,69,05,709 8,96,64,551(f) OthercurrentAssets 13 77,90,88,159 60,81,17,634

SUB-TOTAL(2) 1,80,14,88,141 1,99,31,72,789TOTAL (1) + (2) 7,75,98,42,627 7,15,59,81,056

ACCOUNTINGPOLICIESANDOTHERNOTESTOTHEACCOUNTS 21 - -NotesreferredtoaboveformanintegralpartoftheBalanceSheet.Asperourreportofevendate. For and on behalf of the CouncilForBANSAL SINHA & CO.CharteredAccountants CA Sameer Gupta CS Dinesh C Arora FRN:006184N JointSecretary(F&A) Secretary

(NishantChaudhary) CS Makarand Lele CS (Dr.) Shyam AgrawalPartner VicePresident PresidentMembershipNo.513802Place:NewDelhiDate:26thSeptember,2017

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34

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

(Amount in `)

PARTICULARS Note No. For the year ended 31st March 2017 31st March 2016

INCOME IncomefromActivities 14 1,27,17,12,859 1,38,74,09,712IncomeFromInvestments 15 52,03,91,338 52,99,23,307OtherIncome 16 2,55,85,301 5,47,28,160

TOTAL INCOME 1,81,76,89,498 1,97,20,61,179 EXPENDITUREEmployeeBenefitExpense 17 37,86,80,455 31,25,42,779StudyMaterial&Others/OralEductionExpense 6,72,98,412 6,03,07,733PublicationsExpense 97,51,806 92,80,048ExaminationsExpense 18 16,19,58,173 19,10,17,899TravellingandConveyanceExpense 2,54,65,241 2,71,75,941Programmes/SeminarsExpense 15,28,21,727 12,74,41,287CareerAwarenessandPromotionExpense 4,90,98,681 4,28,34,093Depreciation&Amortization 5,27,52,748 4,20,21,900OtherExpenses 19 25,30,24,563 22,69,44,909ScientificResearchActivities 20 2,69,79,334 2,07,10,270

TOTAL EXPENDITURE 1,17,78,31,140 1,06,02,76,859 Surplus before extra ordinary & exceptional items 63,98,58,358 91,17,84,320

SurplusonDisposalofAssets 13,367 15,641LossonSale/Disposal/Write-offofAssets (7,07,587) (3,10,104)Prior-periodexpenses(net) (91,25,243) (48,12,223)

Surplus after extra ordinary & exceptional items 63,00,38,895 90,66,77,634 AppropriationtoFunds/Reserves: (i) InterestApportionedtoEarmarkedFunds 12,61,12,693 10,15,04,049(ii) PerformanceRelatedIncentiveFund 77,21,000 75,00,000(iii) InfrastructureFund 1,00,00,000 25,00,00,000(iv) BuildingReserveandSpecificReserve 10,15,500 10,00,000

TOTAL APPROPRIATIONS 14,48,49,193 36,00,04,049 BalancetransferredtoGeneralReserve 48,51,89,702 54,66,73,585

TOTAL 63,00,38,895 90,66,77,634 ACCOUNTINGPOLICIESANDOTHERNOTESTOTHEACCOUNTS 21 NotesreferredtoaboveformanintegralpartoftheIncome&ExpenditureA/cAsperourreportofevendateannexed. For and on behalf of the CouncilForBANSAL SINHA & CO.CharteredAccountants CA Sameer Gupta CS Dinesh C Arora FRN:006184N JointSecretary(F&A) Secretary


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35

THE INSTITUTE OF COMPANY SECRETARIES OF INDIA CASH FLOW STATEMENT FOR THE YEAR ENDED 31st MARCH 2017

(Amount in `)2016-17 20115-16

Cash flow from operating activity Surplus as per Income and Expenditure Account 63,00,38,895 90,66,77,634 Add:DepreciationonFixedAssets 5,65,80,221 4,45,57,600

:DepreciationonbooksincludinginPriorPeriodExpenses - 5,75,973:LossonSaleofAssets 7,07,587 3,10,104

Cash flow from operation after adjustment for non cash expenses 68,73,26,703 95,21,21,311 Less:InterestOnInvestment 51,08,60,338 51,44,72,917

IncentiveonInvestment 95,31,000 1,54,50,390SurplusonDisposalofAssets 13,367 52,04,04,705 15,641 52,99,38,948

Operating Surplus before Working Capital and Funds Changes 16,69,21,998 42,21,82,363 Increase /(Decrease) in Current Assets and Current Liabilities and Earmarked Fund Balances

(Increase)/DecreaseinInventory 29,15,867 (5,13,175)(Increase)/DecreaseinSundryDebtors 61,91,057 3,36,15,725(Increase)/DecreaseinShortTermLoans&Advances 27,58,842 (2,11,96,637)(Increase)/DecreaseinOtherCurrentAssets (17,09,70,525) 6,97,82,180(Increase)/DecreaseinGR/Contribution/UtilisationtoRC/Chapters 35,48,668 (3,41,97,819)Increase/(Decrease)inSundryCreditors 3,22,88,257 3,13,73,772Increase/(Decrease)inOtherCurrentLiabilities (2,52,65,777) (4,99,95,133)Increase/(Decrease)inShortTermProvisions (4,72,89,157) 5,04,035Receipts(Utilisation)inAwardforCorporateGovernanceFunds(Net) (10,41,847) (14,85,544)Receipts(Utilisation)StaffTrainingFund (9,22,560) (7,05,377)Receipts(Utilisation)LeaveEncashmentFund (86,35,059) (1,11,22,001)ReceiptsasContributionforLeaveEncashmentFund 17,49,279 12,252Receipts(Utilisation)EndowmentPrizeAwardFund(Net) (1,32,612) (1,90,782)Receipts(Utilisation)ProfessionalDevelopmentFund (8,28,967) (30,65,292)Receipts(Utilisation)PerformanceRelatedIncentiveFund (77,24,915) (74,35,266)Receipts(Utilisation)InfrastructureFund (12,00,134) (21,45,59,583) 46,81,827 1,00,62,765

Net cash generated from operating activity. (4,76,37,585) 43,22,45,128

Cash flow from Investing Activity InterestonInvestments 51,08,60,338 51,44,72,917IncentiveonInvestment 95,31,000 1,54,50,390SaleProceedsofRedumptionofInvestments/MutualFunds 1,44,34,27,866 2,15,53,72,021AcquisitionofInvestments/MutualFundUnits (1,51,65,62,270) (2,81,72,13,304)Decrease/(Increase)inLongTermLoans&Advances 1,47,69,626 (1,58,58,400)Decrease/(Increase)inOtherNonCurrentAssets 1,24,30,598 (1,60,57,127)SaleProceedsofFixedAssets 1,58,061 1,80,278PurchaseofFixedAssets (31,41,73,206) (24,23,08,831)AdditioninCWIP (10,28,69,627) (1,57,94,580)

Net Cash used in Investing Activity 5,75,72,386 (42,17,56,636)Cash flow from Financing Activity

Increase/(Decrease)inInfrastructureReserve(Net) 3,56,581 (59,931)AdditioninGeneralReserveandCorpusDonations 1,60,812 3,22,107Increase/(Decrease)inRenovationReserve(Net) - (54,19,000)Increase/(Decrease)inLibraryReserve(Net) 1,97,546 2,18,097Increase/(Decrease)inBuildingReserve(Net) 1,71,79,702 8,81,009Increase/(Decrease)inOtherReserveandFunds(Net) (5,04,665) 14,00,634Increase/(Decrease)inCapitalReserveEntranceFeesfromMembers 1,18,87,524 1,05,90,500

Net cash generated from Financing Activities. 2,92,77,500 79,33,416 Net Cash Flow for the Year ended as on 31st March 2017 (A) 3,92,12,301 1,84,21,908 Cash and cash equivalent at the beginning of the year (B) 13,09,31,272 11,25,09,364 Cash and cash equivalent at the end of the year 17,01,43,573 13,09,31,272 Note: 1. TheaboveCashFlowStatementhasbeenderivedusingtheIndirectmethodprescribedinAS-3.2 EnclosedNotes1to20formanintergralpartoftheCashFlowStatement. 3 Cashandcashequivalentsinclude:a Cash,Cheques/Drafts/PostalOrders&PostageStamps/Frankingunits. 13,29,529b BalanceswithScheduledBanks 16,88,22,375 -InSavingsBankaccounts(inclTermdeposits)

17,01,51,904For and on behalf of the Council Members

Asperourreportofevendate.ForBANSAL SINHA & CO.CharteredAccountants CA Sameer Gupta CS Dinesh C Arora FRN:006184N JointSecretary(F&A) Secretary


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RESERVES & SURPLUS NOTE - 1

(Amount in ` )PARTICULARS As at 31st March 2017 As at 31st March 2016 (1) CAPITAL RESERVE AsperlastBalanceSheet 5,07,89,173 4,01,98,673Add:EntranceFeesfromMembers -AssociateMembers 1,10,75,649 97,66,500 -FellowMembers 8,11,875 1,18,87,524 8,24,000 1,05,90,500

Sub-Total (1) 6,26,76,697 5,07,89,173 (2) GENERAL RESERVE AsperlastBalanceSheet 4,76,59,43,225 4,16,65,48,449Add:Additionsduringtheyear 1,51,499 2,38,925Add:Corpusdonation 9,313 83,182Add:TransferfromInfrastructureFund 33,43,31,311 19,79,69,768Add:TransferfromContribution/Reserves 10,98,03,272 2,81,86,563Add/(Less):Adjustment/TransfertoOtherReserve (4,29,93,211) (12,35,19,378)Less:Utilisationduringtheyear (15,54,266) (2,87,74,221)Less:BuildingLoanwrittenoff(B'loreChap) - (2,14,63,648)

5,16,56,91,143 4,21,92,69,640Surplus(ExcessofIncomeoverExpediture) 48,51,89,702 54,66,73,585

Sub-Total (2) 5,65,08,80,845 4,76,59,43,225 (3) Library Reserve AsperlastBalanceSheet 23,37,982 21,19,885Add:Donation 1,55,501 37,482Add:TransferfromReserve 20,646 1,58,408Add:Interest 21,399 22,207

Sub-Total (3) 25,35,528 23,37,982 (4) Building Reserve AsperlastBalanceSheet 12,92,38,413 11,67,25,140Add:Donation 20,00,000 5,10,000Add:TransferfromReserve 2,43,52,274 1,06,32,264Add:TransferfromContribution - 17,72,124Add:Interest - 1,38,070Add:TransferfromI&EAccount 10,00,000 10,00,000Less:Utilisationduringtheyear (91,72,572) (15,39,185)

Sub-Total (4) 14,74,18,115 12,92,38,413 (5) Renovation Reserve AsperlastBalanceSheet - 54,19,000Add:Additionsduringtheyear - -Less:Utilisationduringtheyear - (54,19,000)

Sub-Total (5) - - (6) Infrastructure Reserve AsperlastBalanceSheet 3,23,24,565 3,23,84,496Add:Additionsduringtheyear 3,56,581 35,000Les:Utilisationduringtheyear - (94,931)

Sub-Total (6) 3,26,81,146 3,23,24,565

(7) Other Reserve AsperlastBalanceSheet 84,73,729 83,17,765Add:Additionsduringtheyear 1,09,285 14,05,733Add:Donations - 10,811Add:Transferfrom/(to)Reserve 14,263 (12,49,644)Add:Interest 81,900 91,175Add:TransferfromI&EA/c - 12,974Less:TransfertoInfrastructureReserve - (8,000)Less:Utilisationduringtheyear (7,10,113) (1,07,085)

Sub-Total (7) 79,69,064 84,73,729 (8) CONTRIBUTION TO / FROM TOWARDS L/BLDG /OTHER ASSETS Add:Contrib.fromRC/ChaptowardsAssets 6,92,07,302 13,19,62,043Less:Contrib.toRC/Chapterstowardsassets (14,79,76,663) (14,90,39,778)

Sub-Total (8) (7,87,69,361) (1,70,77,735) Total : (1 to 8) 5,82,53,92,033 4,97,20,29,352

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EARMARKED FUND NOTE - 2

(Amount in ` )

PARTICULARS

ICSI NATIONAL AWARD FOR EXCELLENCE IN CORPORATE

GOVERNANCE FUNDSTAFF TRAINING FUND LEAVE ENCASHMENT FUND ENDOWMENT FOR PRIZE

AWARD FUND

2016-17 2015-16 2016-17 2015-16 2016-17 2015-16 2016-17 2015-16AsperlastBalanceSheet 13,10,28,540 12,27,53,246 1,18,90,951 1,18,49,204 9,03,89,783 9,41,99,102 68,74,031 65,95,122Add:Contributionduringtheyear - - - - 17,49,279 12,252 - 2,05,323TransferfromGenReserve - - - - - - - -Add:Receiptsduringtheyear - - - - - - 1,05,400 75,826Add:Interestallocation 1,04,40,609 97,60,838 9,14,374 7,47,124 68,85,780 73,00,430 4,62,402 4,69,691

Sub-Total 14,14,69,149 13,25,14,084 1,28,05,325 1,25,96,328 9,90,24,842 10,15,11,784 74,41,833 73,45,962 Less:TransfertoGRonutilisation - - - - - - - 2,67,141Less:Utilisedduringtheyear 10,41,847 14,85,544 9,22,560 7,05,377 86,35,059 1,11,22,001 2,38,012 2,04,790Balance as at the close of the year 14,04,27,302 13,10,28,540 1,18,82,765 1,18,90,951 9,03,89,783 9,03,89,783 72,03,821 68,74,031

SUNDRY CREDITORS NOTE - 3

(Amount in ` )PARTICULARS As at 31st March 2017 As at 31st March 2016Sundry Creditors

ForGoods&Services 13,35,24,589 12,65,38,866Others

Min.OfCorpAffairs 3,21,193 3,21,193RD(North/South/West/East) 11,80,870 2,54,792OtherPayables 41,43,855 7,22,716InterUnitBalances 2,09,55,317 -

Total: 16,01,25,824 12,78,37,567

PARTICULARSPERFORMANCE-RELATED

INCENTIVE FUND INFRASTRUCTURE FUND PROFESSIONAL DEVELOPMENT FUND TOTAL AMOUNT

2016-17 2015-16 2016-17 2015-16 2016-17 2015-16 2016-17 2015-16AsperlastBalanceSheet 67,80,211 62,15,637 1,45,21,27,479 1,31,67,75,534 5,51,00,948 5,40,80,000 1,75,41,91,943 1,61,24,67,845Add:Contributionduringtheyear 77,21,000 75,00,000 1,00,00,000 25,83,23,000 - - 1,94,70,279 26,60,40,575TransferfromGenReserve - - - - - - - -Add:Receiptsduringtheyear - - - - - - 1,05,400 75,826Add:Interestallocation 5,42,260 4,99,840 10,24,92,351 7,86,39,886 43,74,917 40,86,240 12,61,12,693 10,15,04,049

Sub-Total 1,50,43,471 1,42,15,477 1,56,46,19,830 1,65,37,38,420 5,94,75,865 5,81,66,240 1,89,98,80,315 1,98,00,88,295 Less:TransfertoGRonutilisation - - - 36,41,173 - - - 39,08,314Less:Utilisedduringtheyear 77,24,915 74,35,266 12,00,134 - 8,28,967 30,65,292 2,05,91,494 2,40,18,270Less:OnacquisitionofLand&Bldg 33,43,31,311 19,79,69,768 33,43,31,311 19,79,69,768Balance as at the close of the year 73,18,556 67,80,211 1,22,90,88,385 1,45,21,27,479 5,86,46,898 5,51,00,948 1,54,49,57,510 1,75,41,91,943

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OTHER CURRENT LIABILITIES NOTE - 4

(Amount in ` )PARTICULARS As at 31st March 2017 As at 31st March 2016Other Current Liabilities

FeeReceivedinadvancefromMembers&Students 18,39,70,343 21,79,04,925PayabletoTrusts/Funds 2,61,14,622 1,43,95,019SecurityDeposits 30,20,052 27,53,189PropertyTax 7,98,098 5,25,428TDSPayable 5,50,958 21,34,387OtherPayables 42,49,667 62,44,777ServiceTaxPayable - 11,792

Total: 21,87,03,740 24,39,69,517

SHORT TERM PROVISIONS NOTE - 5

(Amount in ` )PARTICULARS As at 31st March 2017 As at 31st March 2016Short Term Provisions

ProvisionsforExpenses 1,06,63,520 5,79,52,677

Total: 1,06,63,520 5,79,52,677

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39

FIXED ASSETS NOTE - 6

(Amount in ` )

Items

Gross Block Depreciation / Impairment Net BlockCost as on

1.4.2016

Additions Adjustment/Transfer/Sale

Total cost as on

31.3.2017

Total as on

1.4.2016

For the Year

Adjustment/Transfer/

Sale

Total as on

31.3.2017

as on 31.3.2017

as on 31.3.2016

(i) Tangible AssetsLand**-Freehold 15,92,38,623 - 32,94,922 15,59,43,701$ - - - - 15,59,43,701 15,92,38,623-Leasehold 74,05,389 29,50,45,413 - 30,24,50,802 24,28,687 39,20,701 - 63,49,388 29,61,01,414 49,76,702Buildings 63,34,27,065 4,95,89,370* 18,34,66,671 49,95,49,764# 12,41,49,697 2,56,73,786 - 14,98,23,483 34,97,26,281 50,92,76,976Furniture&Fixtures 9,08,91,522 2,10,60,785 1,14,362 11,18,37,945 4,48,42,940 53,39,657 58,650 5,01,23,947 6,17,13,998 4,60,48,582ComputerPeripherals 8,41,45,668 1,13,33,073 20,11,374 9,34,67,367 5,81,15,665 1,25,83,190 14,34,515 6,92,64,340 2,42,03,027 2,60,30,003CoolingEquipment 2,17,79,622 1,57,07,445 1,63,910 3,73,23,157 1,19,87,301 18,54,744 1,53,155 1,36,88,890 2,36,34,267 97,92,321ElectricalEquipment 3,50,80,796 10,13,128 1,02,493 3,59,91,431 2,25,94,169 19,85,364 24,812 2,45,54,721 1,14,36,710 1,24,86,627OfficeMachinesand CommunicationEquipment

2,99,41,213 1,00,30,114 3,88,299 3,95,83,028 1,85,00,425 22,54,845 2,70,685 2,04,84,585 1,90,98,443 1,14,40,788

OtherEquipment 70,14,615 4,85,329 19,735 74,80,209 44,63,483 4,44,851 14,902 48,93,432 25,86,777 25,51,132LibraryBooks 48,46,096 4,68,094 - 53,14,190 48,38,545 4,68,094 - 53,06,639 7,551 7,551Vehicles 7,89,900 8,31,542 - 16,21,442 6,32,773 45,284 - 6,78,057 9,43,385 1,57,127Current Year Total (i) 1,07,45,60,509 40,55,64,293 18,95,61,766 1,29,05,63,036 29,25,53,685 5,45,70,516 19,56,719 34,51,67,482 94,53,95,551 78,20,06,434 Previous Year Total (i) 83,56,66,638 24,04,25,791 22,01,030 1,07,38,91,399 25,11,06,148 4,15,27,328 9,61,213 29,16,72,263 78,22,19,130 58,45,60,490

(ii) Intangible Assets - ERPSoftware 2,03,86,691 19,99,075 5,023 2,23,80,743 1,77,98,679 20,09,704 (4,182) 1,98,12,565 25,68,178 25,88,022Current Year Total (ii) 2,03,86,691 19,99,075 5,023 2,23,80,743 1,77,98,679 20,09,704 (4,182) 1,98,12,565 25,68,178 25,88,022 Previous Year Total (ii) 1,81,11,231 22,84,882 - 2,03,96,113 1,57,05,984 21,01,137 3,736 1,78,03,385 25,92,728 24,05,247

* DepreciationincludeonICSI-CCGRTassetsamountingto`38.27lakh(PY`25.36lakh)debitedtoScientificResearchActivitiesexpenses-ReferNote20.** Costoflandincludesland&buildingatCOE-Hyderabad,Faridabad,Udaipur.COE-AjmerandJaipurforwhichleasedeedisyettobeexecutedinthenameofICSI. OriginalTitleDeedsarenotavailableforWIRO(OfficeNo-13),DombivliandIndoreChapter.# BuildingatCOEHyderabad,Noida,Guwahati,Udaipur,Indore&Faridabadareunderconstruction.$ Referparano(B)11ofNote21

FIXED ASSETS (Capital work in progress) NOTE - 6

(Amount in ` )

Items Cost as on 1.4.2016

Additions Adjustment/ Transfer/Sale

Total cost as on 31.3.2017

(iii) Capital Work in Progress Landunderacquisition 3,74,153 69,55,781 - 73,29,934Buildingsunderconstruction 8,24,87,118 48,20,86,157 29,28,00,880 27,17,72,395

Current Year Total (iii) 8,28,61,271 48,90,41,938 29,28,00,880 27,91,02,329 Previous Year Total (iii) 6,41,06,691 20,57,15,616 18,69,61,036 8,28,61,271

(iv) Intangible Assets under Development ComputerSoftware - - - -

Current Year Total (iv) - - - -Previous Year Total (iv) - 8,331 - 8,331

37th


40

NON CURRENT INVESTMENTS NOTE - 7(Amount in ` )

PARTICULARS AS ON

01.04.2016 ADDITIONS DELETIONS Transfer to /

from Current Inv

AS ON31.03.2017

I. INVESTMENT IN GOVT. SECURITIESGOIBonds(Cum-HY) 1,01,50,00,000 1,14,50,00,000 - - 2,16,00,00,000GOIBonds(NC-HY) 1,07,00,000 3,00,90,000 - 1,07,00,000 3,00,90,000GOISavingBonds - - - - -

SUB-TOTAL(I) 1,02,57,00,000 1,17,50,90,000 - 1,07,00,000 2,19,00,90,000

II. INVESTMENT IN DEBENTURES / BONDSREC 1,00,00,000 - - 1,00,00,000 -HUDCO - - - - -BOI 41,32,07,340 - 25,36,078 - 41,06,71,262PNB-HFL 4,83,73,596 - 86,305 - 4,82,87,291IDFCLTD 5,03,41,437 - 36,969 - 5,03,04,468

SUB-TOTAL(II) 52,19,22,373 - 26,59,352 1,00,00,000 50,92,63,021

III INVESTMENT IN MUTUAL FUNDS

(i) ShareswithSatchidanandCHSLtd. 25,000 510 - - 25,510

SUB-TOTAL(III) 25,000 510 - - 25,510

IV OTHER NON-CURRENT INVESTMENTS

(A) FixedDepositsinBanksAndhraBank 4,28,683 62,14,833 - - 66,43,516BankofMaharashtra - 20,000 - - 20,000BOB 13,50,00,000 - - - 13,50,00,000CanaraBank 85,89,29,786 2,50,16,190 12,05,01,233 37,05,62,354 39,28,82,389CentralBankofIndia 10,01,94,212 1,40,66,550 - 10,00,00,000 1,42,60,762CorporationBank 18,11,50,645 26,54,918 23,72,800 8,99,00,000 9,15,32,763HDFCBank 9,09,23,432 4,51,035 - - 9,13,74,467ICICIBank 8,10,376 1,699 7,88,725 - 23,350IndianBank 4,50,00,000 - - - 4,50,00,000IndianOverseasBank 24,83,556 1,20,00,000 24,83,556 - 1,20,00,000KarnatakaBank 10,36,998 21,105 - - 10,58,103LIC-HFL 35,00,00,000 - - - 35,00,00,000OBC 4,57,67,039 - 4,67,039 4,53,00,000 -OtherBanks 2,57,61,231 2,93,75,088 2,41,96,054 6,849 3,09,33,416PNB-HFL 27,00,00,000 - - - 27,00,00,000SBH 2,43,58,500 23,323 46,00,000 67,77,997 1,30,03,826SBI 70,72,063 10,71,402 32,83,235 (1,69,629) 50,29,859UBI 19,51,69,102 15,23,891 17,48,19,116 - 2,18,73,877VijayaBank 6,63,087 - 6,63,087 - -

SUB-TOTAL(IV-A) 2,33,47,48,710 9,24,40,034 33,41,74,845 61,23,77,571 1,48,06,36,328

(Cont.d)

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NOTE - 7(Amount in ` )

PARTICULARS AS ON

01.04.2016 ADDITIONS DELETIONS Transfer to /

from Current Inv

AS ON31.03.2017

(B) Fixed Deposits with institutions other than Banks

HUDCO 21,24,00,000 - - - 21,24,00,000 KTDFC 5,00,00,000 - - - 5,00,00,000 NHB 8,50,00,000 - - - 8,50,00,000

DepositwithLIC(Leaveencashment) 2,78,07,721 3,29,95,612 74,69,945 - 5,33,33,388TTDFCL 34,568 - - - 34,568PNBHousingFinance 8,00,000 - - - 8,00,000

SUB-TOTAL(IV-B) 37,60,42,289 3,29,95,612 74,69,945 - 40,15,67,956

(C) OTHERS (Specify nature)BackbayExpPremSocLtd 1,000 - - - 1,000BackbayExpPremSocLtd 5,781 - - - 5,781InvestmentshareinIPA - 14,00,00,000 - - 14,00,00,000

SUB-TOTAL(IV-C ) 6,781 14,00,00,000 - - 14,00,06,781

SUB TOTAL (IV:A+B+C) 2,71,07,97,780 26,54,35,646 34,16,44,790 61,23,77,571 2,02,22,11,065

TOTAL (I+II+III+IV) 4,25,84,45,153 1,44,05,26,156 34,43,04,142 63,30,77,571 4,72,15,89,596

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CURRENT INVESTMENTS NOTE - 8(Amount in

` )

PARTICULARS AS ON 01.04.2016 ADDITIONS DELETIONS

Transfer to / from Non-Current

Inv

AS ON31.03.2017

I. INVESTMENT IN GOVT. SECURITIESGOIBonds(Cum-HY) 7,96,00,000 - 7,96,00,000 - -GOIBonds(NC-HY) 3,00,00,000 - 3,00,00,000 - -GOIBonds(NC-HY) - - 1,07,00,000 1,07,00,000 -

SUB-TOTAL(I) 10,96,00,000 - 12,03,00,000 1,07,00,000 - II. INVESTMENT IN DEBENTURES /

BONDS HUDCO 4,80,00,000 - 4,80,00,000 - - REC - - - 1,00,00,000 1,00,00,000

SUB-TOTAL(II) 4,80,00,000 - 4,80,00,000 1,00,00,000 1,00,00,000 III INVESTMENT IN MUTUAL FUNDS

SUB-TOTAL(III) - - - - - IV OTHER CURRENT INVESTMENTS(A) FixedDepositsinBanks

AllahabadBank 5,89,101 6,27,953 5,89,100 - 6,27,954AndhraBank - 11,58,236 - - 11,58,236AxisBank 71,421 5,618 - - 77,039BankofBaroda 26,66,890 7,50,210 5,87,493 - 28,29,607BankofIndia 81,92,183 84,40,299 83,16,241 - 83,16,241BankofMaharashtra 36,97,085 - 36,97,085 - -CanaraBank 13,92,80,845 98,63,815 13,30,94,005 37,05,62,354 38,66,13,009CentralBankofIndia 43,21,504 3,48,410 35,000 10,00,00,000 10,46,34,914CorporationBank 51,48,65,110 5,36,860 51,00,00,000 8,99,00,000 9,53,01,970DenaBank 14,18,912 80,32,843 12,19,463 - 82,32,292HDFCBank 8,97,325 5,943 - - 9,03,268ICICIBank 70,92,954 1,11,471 34,63,050 - 37,41,375IDBIBank 29,33,117 19,41,824 18,16,485 - 30,58,456IndianBank 7,36,89,889 1,51,157 7,13,24,536 - 25,16,510IOB 63,06,175 - 63,06,175 - -OrientalBankofCommerce - - - 4,53,00,000 4,53,00,000OtherBanks 6,50,08,844 3,12,27,756 4,33,93,835 (8,865) 5,28,33,900SBH 17,58,534 1,67,257 - 67,77,997 87,03,788SBI 62,12,312 53,02,329 - (1,69,629) 1,13,45,012SBM 12,10,000 16,00,000 12,10,000 - 16,00,000SyndicateBank 11,07,806 9,00,530 8,32,524 - 11,75,812UCOBank 1,20,21,302 36,92,977 85,59,950 - 71,54,329UnionBankofIndia 11,47,710 11,86,340 11,67,025 - 11,67,025VijayaBank 2,11,757 - 2,11,757 - -

SUB-TOTAL (IV-A) 85,47,00,776 7,60,51,828 79,58,23,724 61,23,61,857 74,72,90,737 (B) Fixed Deposits with institutions

other than Banks HUDCO 4,00,00,000 - 4,00,00,000 - - IDBI - - - - -

KTDFC 8,00,00,000 - 8,00,00,000 - - NHB 1,50,00,000 - 1,50,00,000 - -

SUB-TOTAL (IV-B) 13,50,00,000 - 13,50,00,000 - - (C ) OTHERS (Specify nature)

SUB-TOTAL(IV-C ) - - - - SUB TOTAL (IV) 98,97,00,776 7,60,51,828 93,08,23,724 61,23,61,857 74,72,90,737

TOTAL (I+II+III+IV) 1,14,73,00,776 7,60,51,828 1,09,91,23,724 63,30,61,857 75,72,90,737

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INVENTORIES NOTE - 9

(Amount in ` )PARTICULARS As at 31st March 2017 As at 31st March 2016(i) Publications 21,07,873 53,37,598(ii) Consumables,Stores&Others 13,75,941 10,62,083

Total 34,83,814 63,99,681

SUNDRY DEBTORS NOTE - 10

(Amount in `)PARTICULARS As at 31st March 2017 As at 31st March 2016(a) SundryDebtors(Outstandingformorethansixmonths)

(i) Secured,consideredgood 60,919 65,869

(ii) Unsecured,consideredgood 13,43,310 59,79,550

(iii) Doubtful 3,500 1,68,334

14,07,729 62,13,753 Less:ProvisionforBadandDoubtfulDebts - 35,10,910

SUB-TOTAL (a) 14,07,729 27,02,843 (b) OthersSundryDebtors

(i) Secured,consideredgood 26,441 6,911

(ii) Unsecured,consideredgood 65,79,904 59,57,696

(iii) Doubtful 4,500 -

66,10,845 59,64,607 Less:ProvisionforBadandDoubtfulDebts 34,50,756 -

SUB-TOTAL (b) 31,60,089 59,64,607 (c) InterUnitBalances - 20,91,425

Total (a+b+c) 45,67,818 1,07,58,875

CASH AND CASH EQUIVALENTS NOTE - 11

(Amount in `)PARTICULARS As at 31st March 2017 As at 31st March 2016(i) BalanceswithBank(Incl.LinkedTermDeposits) 16,88,22,375 13,02,22,936(ii) Cheques/Drafts/IPO/Stamps/FUnitsinhand 8,62,109 2,19,303(iii) Cashinhand 4,67,420 4,89,033

Total 17,01,51,904 13,09,31,272

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SHORT TERM LOANS AND ADVANCES NOTE - 12

(Amount in `)PARTICULARS As at 31st March 2017 As at 31st March 2016 SHORTTERMLOANSANDADVANCES(specifycategory/nature)

(i) Secured,consideredgoodAmountrecoverableforIAPfromMCA - -ICSITrusts/funds 69,05,832 1,32,29,572EmployeesAdvances 40,33,844 34,88,200Others 1,05,66,436 1,07,12,758

(ii) Unsecured,consideredgood - -

AmountrecoverableforIAPfromMCA 3,56,346 1,29,500Others 6,49,37,399 6,21,04,521

(iii) Doubtful 1,72,827 43,680

Sub-Total 8,69,72,684 8,97,08,231 Less:ProvisionforBadandDoubtfulDebts 66,975 43,680

Total 8,69,05,709 8,96,64,551

OTHER CURRENT ASSETS NOTE - 13

(Amount in `)PARTICULARS As at 31st March 2017 As at 31st March 2016OTHERCURRENTASSETS(specifynature)

AccruedInterestoncurrentinvestments 73,28,61,650 56,16,45,549PrepaidExpenses 67,87,750 15,02,561SecurityDeposit 37,16,175 33,50,554CENVAT/ServiceTaxRecoverable 9,39,563 5,25,285IncomeTaxRefundDueuptoPY 2,03,65,915 1,74,73,790TaxDeductedatSourceCY 1,16,43,652 2,04,02,547Recoverableothers 3,02,491 8,89,243AdvancetoParties 24,70,963 23,28,105

Total 77,90,88,159 60,81,17,634

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INCOME FROM ACTIVITIES NOTE - 14(Amount in `)

PARTICULARS For the year ended31st March 2017 31st March 2016

(I) Members 6,22,75,460 5,50,49,510 AnnualFees 6,18,97,935 5,42,13,373 OtherFees 3,77,525 8,36,137 (II) Students 1,02,19,95,101 1,16,62,13,235 RegistrationFees 13,59,63,930 16,28,47,175 ExemptionFees 4,20,73,600 3,78,79,850 PostalEducationFees 39,23,99,138 41,17,79,675 ExaminationFees 39,99,42,920 50,12,76,220 OralEducationFee 4,04,69,990 3,95,06,633 OtherFees 1,11,45,523 1,29,23,682 (III) Publications 1,24,00,441 1,18,00,138 (IV) Programmes / Seminars 17,50,41,857 15,43,46,829 StudentsTrainingProg 12,13,40,929 8,87,52,586 MembersProgrammes/Seminar 5,37,00,928 6,55,94,243

TOTAL 1,27,17,12,859 1,38,74,09,712

INCOME FROM INVESTMENTS NOTE - 15(Amount in `)


InterestonInvestments&BankBalance 51,08,60,338 51,44,72,917IncentiveonInvestments 95,31,000 1,54,50,390 TOTAL 52,03,91,338 52,99,23,307

OTHER INCOME NOTE - 16(Amount in `)


SubscriptiontoJournal/Bulletin 1,13,94,797 76,54,080InterestonStaffadvances 1,56,512 2,87,635ReceiptforInvestorAwarenessProg.-MCA/RD 8,96,772 18,51,902ReceiptforInvestorAwarenessProg.-Others 12,85,801 10,27,660AdvisoryServices 25,000 73,930Royalty/CommissionfromPublications 1,45,163 3,53,262Provisionnolongerrequiredwrittenback 11,93,383 3,28,45,280Donations-General 1,13,935 2,74,891Rent 4,74,250 5,08,250ScientificResearchActivities-CCGRT 2,85,000 16,94,562Amountwrittenoff-EMD/SD,etc. 47,719 -MiscellaneousIncome 95,66,969 81,56,708

TOTAL 2,55,85,301 5,47,28,160

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EMPLOYEE BENEFIT EXPENSE NOTE - 17

(Amount in `)

PARTICULARSFor the year ended

31st March 2017 31st March 2016SalariesandAllowances 26,72,48,500 21,74,66,065Contributionfor: 8,13,21,422 6,94,54,735

ProvidentFund 1,55,14,557 1,32,83,463GratuityFund 71,93,084 12,17,157Pensionfund 5,68,63,250 5,49,41,863LeaveEncashmentFund 17,50,531 12,252

StaffWelfare 2,21,10,533 1,81,21,979ICSIEmployeesBenevolentFund 5,00,000 5,00,000ICSIEmployeesMedicalHospitalisationFund 75,00,000 70,00,000

TOTAL 37,86,80,455 31,25,42,779

EXAMINATION EXPENSE NOTE - 18

(Amount in `)


31st March 2017 31st March 2016HonorariumtoPaperSetters/Examiners 5,72,43,119 7,46,59,262GeneralObservers 52,49,747 49,84,463ExamCentres 4,87,27,807 5,59,25,555DespatchofDocuments 1,98,78,552 2,50,18,963AnswerBooks 75,37,405 78,26,187QuestionPapers 61,73,118 71,59,639CanvasBagsandLocks - 5,14,650OfficeUseforms 2,95,627 2,56,144Envelopes 7,35,088 6,81,737PassCertificates 6,66,398 4,43,546TravellingExpenses 32,44,745 3,69,750ComputerBasedExamination-Foundation 1,20,35,131 1,23,64,699DigitizationofRecords - -Others 1,71,436 8,13,304

TOTAL 16,19,58,173 19,10,17,899

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OTHER EXPENSES NOTE - 19(Amount in `)


31st March 2017 31st March 2016Stationery 88,31,663 73,01,181Journal&Bulletins 2,79,37,465 2,17,84,242LegalandProfessionalServices 1,43,48,035 68,83,650Rent,RatesandTaxes 73,45,479 72,80,816ElectricityandWater 1,61,41,971 1,39,05,272CommunicationExpense 5,99,82,160 5,95,64,226

Telephone/Fax/Callcentre 3,40,17,873 2,62,73,607Courier/Postage 2,59,64,287 3,32,90,619

Insurance 2,15,292 1,85,403RepairsandMaintenance 3,02,99,446 2,74,86,233

Buildings 32,22,473 16,75,811Computer 2,14,99,390 2,10,52,879OtherAssets 52,35,202 42,16,439Vehicles 3,42,381 5,41,104

OfficeExpenses 2,28,26,209 2,39,91,175NewspapersandPeriodicals 1,51,448 1,06,978Meetingexpenses 48,96,373 40,58,252Computerisation(DataProcessing) 43,08,611 77,44,145PackingandDespatch 1,48,611 2,35,414Loss/Write-offofStocks 749 -BankCharges 95,37,094 1,17,45,595StudentScholarshipandAwards 6,92,201 88,377AuditorsRemuneration(incl.ServiceTax) 13,50,391 13,36,975 AuditFees :HeadOffice 2,15,050 1,95,500

:OtherOffices 10,45,341 10,34,572 OtherServices :HeadOffice 13,800 39,590

:OtherOffices 76,200 67,313InternalAuditFee 12,01,230 6,18,438InvestorAwarnessProgrammes 9,33,994 23,73,522IEPFSecurityClaims - 15,000ContributiontoPrimeMinisterReliefFund 50,000 10,19,430MiscellaneousExp 1,42,146 2,27,419ElectionExpenses(net) - -BadDebts 15,05,000 5,86,090ProvisionforBad/DoubtfulDebts 1,78,995 34,07,076ContributiontoFunds: 4,00,00,000 2,50,00,000 -ICSIStudentEducationFundTrust 1,00,00,000 1,00,00,000 -CSBenevolentFundTrust 3,00,00,000 1,50,00,000

TOTAL 25,30,24,563 22,69,44,909

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SCIENTIFIC RESEARCH ACTIVITIES NOTE - 20(Amount in `)


31st March 2017 31st March 2016 CCGRT

Establishment 1,31,61,406 83,42,323Books&Periodicals 37,903 38,701Printing&Stationery 5,28,974 5,42,999Communication 3,16,908 3,81,378Travelling&Conveyance 1,74,160 5,59,995ResearchStudies 17,338 -Others 89,15,172 2,31,51,861 83,09,174 1,81,74,570

Depreciation 38,27,473 25,35,700

TOTAL 2,69,79,334 2,07,10,270

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THE INSTITUTE OF COMPANY SECRETARIES OF INDIANOTE – 21

(A) ACCOUNTING POLICIES

1. Basis of Preparation of Financial StatementsThe Financial Statements are drawn up on historical costbasisandhavebeenpreparedinaccordancewithapplicableAccounting Standards issued by the Institute of CharteredAccountantsofIndiaandareonaccrualbasisunlessotherwisestated.

2. Uses of EstimatesThe preparation of Financial Statements requires someestimateswhich affect the reported amounts of assets andliabilitiesonthedateofFinancialStatementsandthereportedamountofrevenuesandexpensesduringtheyear.Differencebetweentheactualresultandestimatesarerecognizedintheperiodinwhichresultsareknown/materialized.

3. Revenue Recognitiona. TheEntranceFeeiscollectedatthetimeofadmissionof

apersonasaMemberandisdirectlycreditedto“CapitalReserve”.

b. FeesreceivedfromMembersareaccountedforoncashbasis.However,feesreceivedinadvancearecarriedoverasaliability.

c. Feefromstudentsisrecognizedoncashbasis.d. Examinationfeeisrecognizedonthebasisofconductof

examination.e. Revenue from sale of publications is recognized at the

timeofpreparingthesalebill,ie.whenthepropertyingoodsaswellasthesignificantrisksandrewardsofthepropertygettransferredtoBuyer.

f. IncomefromInvestments

i) Dividend on investments is recognized on receiptbasis.

ii) Income on interest-bearing securities and fixeddeposits is recognized on a time proportion basistakingintoaccounttheamountoutstandingandtheratesapplicable.

ACCOUNTING POLICIES AND NOTES TO ACCOUNTS

g. Receiptofmoney for specific sponsoredProgramme isrecognizedonasystematicbasisintheIncome&ExpenditureAccount over the periods necessary to match them withthe related costs which they are intended to compensate.Unspentbalanceofsuchreceipts, ifany,arecarriedtonextyear.

4. Investmentsa. LongtermInvestmentsarecarriedatcostanddiminution

invalue,otherthantemporary,isprovidedfor.

b. Currentinvestmentsarecarriedatlowerofcostorfairvalue.

5. Fixed Assets / Depreciation and Amortizationa. FixedAssetsexcludingLandarestatedathistoricalcost

lessdepreciation.

b. Landacquiredonperpetualleaseaswellasonleaseforover99yearsistreatedasfreeholdland.Landacquiredonleasefor99yearsorlessistreatedasleaseholdland.

c. Freeholdlandisstatedatcost.Leaseholdlandisstatedattheamountofpremiumpaidinclusiveofstampdutyand registration charges for acquiring the lease rights.Thevalueofleaseholdlandisamortizedovertheperiodoflease.

d. Depreciation is provided on the Written Down ValuemethodatthefollowingratesasapprovedbytheCouncil,basedontheusefullifeoftherespectiveassets:

Item %Buildings 5FurnitureandFixtures 10Lifts/AirConditioners/OtherEquipments 15Vehicles 20Computers&Mobiles 40

d. DepreciationonadditionstoFixedassetsisprovidedonmonthlypro-ratabasis.Nodepreciationischargedintheyearofsale.

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e. FixedAssetscosting`5,000orlessarefullydepreciatedintheyearofpurchase.

f. Librarybooksaredepreciatedattherateof100%intheyearofpurchase.

g. IntangibleAssets(Software)areamortizedequallyoveraperiodofthreeyears.

6. Impairment of Assets ThecarryingamountsofassetsarereviewedateachBalanceSheetdate if there isan indicationof impairmentbasedoninternal/externalfactors.Theimpairmentlossisrecognizedwherever the carrying amount of an asset exceeds itsrecoverable amount. The recoverable amount is higher ofasset’snetsellingpriceorvalueinuse.Inassessingthevalueinuse,theestimatedfuturecashflowsarediscountedtotheirpresentvalueattheweightedcostofcapital.

7. Inventories Inventories of Papers, Consumables, Publications, StudyMaterials, etc. are valued at lower of cost or net realizablevalue.ThecostisdeterminedonFIFObasis.

8. Foreign Currency Transactions a. Foreign currency transactions are recorded on initial

recognitioninthereportingcurrencybyapplyingtotheforeigncurrencyamountattheexchangerateprevailingasonthedateoftransactions.

b. Allincomesandexpensesaretranslatedataveragerate.Allmonetaryassets/liabilitiesaretranslatedattheyearend rateswhereas non-monetary assets are carried attherateonthedateoftransaction.

c. All incomes or expenses on account of exchange ratedifferencearerecognizedintheIncomeandExpenditureAccount.

9. Employee BenefitsDefined Contribution Plan

a. Contributions to Provident Fund Trust maintained bytheInstitutearerecognizedasexpenses.

Defined Benefit Plana. Amount payable/recoverable to/from Gratuity Fund

Trust are recognized as liability/assets in the balancesheet based on the valuation report received fromLICforpresentobligationofliabilityattheyearend.

b. ContributiontoPensionFundTrustaremadebasedonactuarialvaluationandrecognizedasanexpenseasperAS-15(Revised).

c. ProvisionforleaveencashmentismadeonthebasisofactuarialvaluationprovidedbyLICandrecognizedasanexpenseasperAS-15(Revised).

10. Provisions Aprovisionisrecognizedwhenanenterprisehasapresentobligation as a result of past events; it is probable that anoutflowofresourceswillberequiredtosettletheobligation,inrespectofwhichareliableestimatecanbemade.Provisionsarenotdiscounted to itspresentvalueandaredeterminedbasedonbestestimaterequired tosettle theobligationsattheBalanceSheetdate.ThesearereviewedateachBalanceSheetdateandadjustedtoreflectthecurrentbestestimates.

11. Contribution to Approved Funds Allocation /Contributions to ICSI Students Education FundTrust, ICSI National Award for Corporate Governance,ICSI Employees Medical Hospitalization Trust, CompanySecretaries Benevolent Fund, ICSI Employees BenevolentFund, Performance-related Incentive Fund, ProfessionalDevelopmentFundandInfrastructureFund,aremadebasedontheamountasapprovedbytheCouncilfromtimetotime.

12. Allocations / Transfer to Reserves and Surplus and Earmarked Fundsa. Corpusdonation/donationforBuilding&OtherSpecific

FundreceivedduringtheyearisdirectlytakentoGeneralReserve.

b. Incomefrominvestmentofearmarkedfundsisallocatedattherateof8%p.a.totherespectiveearmarkedfundson the average ofOpening&Closing balances and theamountutilizedtherefromisdebitedtosuchfunds.

13. Old outstanding amounts under the heads of “Earnest Money Deposits, Retention Money, Security Deposits and Stale Cheques”Undisputed amount outstanding formore than three yearsundertheheadofEarnestMoneyDeposits,RetentionMoney,SecurityDepositsandStaleChequesremainingunpaidattheendofF.Y.isbeingwritingoffandtreatedasIncomefortheyear.Anysubsequentclaimoutofthewrittenoffamountwillbepaidintheyearofclaimandwillbebookedexpensesfortheyearaccordingly.

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(B) NOTES TO ACCOUNTS

1. These Consolidated Financial Statements include theaccounts of Head Quarter (including CCGRT), consolidatedaccounts of 4 Regional Councils named Northern IndiaRegional Council (NIRC), Eastern India Regional Council(EIRC),Western IndiaRegionalCouncil (WIRC)&SouthernIndiaRegionalCouncil(SIRC).

2. Contingent Liabilities (a) ClaimsagainsttheInstitutenotacknowledgedasdebts

is`25.03 lakh(PreviousYear` 71.35 lakh),excludinginterestwhichisnotyetascertained.

(b) Claimsinrespectoflegalcasesfiledbythestaff/labouragainst the Institute for labour and other matters,amounts not ascertainable (amount provided till31.3.2017is`50.00lakh).

(c) TRACESdefaultspendingadjustmentswithIncomeTaxAuthorityamountingto`1.66lakh(P.Y.` 1.51lakh)

3. The estimated amount of contracts remaining to beexecutedoncapitalaccount,netofadvancesis`1432.34lakhason31.3.2017 (P.Y.` 1540.45 lakh).EstimatedamountofOtherCommitmentsremainingtobeexecutedis`Nilason31.03.2017(P.Y.`NIL).

4. Management is of the opinion that except the assetswrittenoffduringtheyearandtheassetsretiredfromactiveuse,thereisnofurtherimpairmentofassetsascontemplatedinAccountingStandard–28.

5. Employee BenefitsThe disclosure of ‘Employee Benefits’ as defined in theAccountingStandard-15areasunder:-

Defined Contribution Plan Employer’s contribution to Defined Contribution Plansuch as Provident Fund is charged off during the financialyear. Employee’s Provident Fund is administered by ‘ICSIEmployee’sProvidentFundTrust’.

Defined Benefit Plan (i) Gratuity

TheEmployer’sGratuityFundSchememanagedby theLifeInsurance Corporation of India is a ‘Defined Benefit Plan’.Thepresentvalueofobligation isdeterminedbyLICbasedon actuarial valuation using Projected Unit Credit (P.U.C.)methodasdefinedintheAccountingStandard-15.

(ii) Leave Encashment

TheLeaveEncashment Fund Schememanagedby theLifeInsurance Corporation of India is a ‘Defined Benefit Plan’.Thepresentvalueofobligation isdeterminedbyLICbasedon actuarial valuation using Projected Unit Credit (P.U.C.)methodasdefinedintheAccountingStandard-15.

(iii) Pension

‘Pension’isadministeredbyaseparateTrustnamedas‘ICSIEmployeesPensionFundTrust’andtheactuarialvaluationofPensionBenefitPlanLiabilityhasbeendoneon31.3.2017byfollowingP.U.C.methodintermsoftheAccountingStandard–15andthepensionbenefitplanliabilitiesisfullyfunded.

I. Table showing changes in present value of ObligationFig.:`lakh

Gratuity Funded

Pension Funded

Leave Encashment Funded with LIC &

earmarkedPresentvalueofobligationsasatthebeginningoftheyear

767.08 4126.17 741.71

Interestcost 61.37 321.84 59.34PastServicecost Nil Nil NilCurrentservicecost 36.22 99.28 88.30Actuarial(Gain)/Lossonobligation

61.93 130.14 86.95

Benefitspaid (86.79) (158.52) (72.39)SettlementCost Nil Nil NilPresentValueattheyearend

839.81 4518.91 903.90

II. Table showing changes in fair value of Plan AssetsFig.:`lakh

Gratuity Funded

Pension Funded


earmarkedFairvalueofPlanAssetsatbeginningoftheyear

834.42 4085.99 903.90

ActualreturnonPlanAssets

61.78 326.88 *68.86

Contributions -- 540.19 17.49Benefitspaid (86.79) (158.52) *(86.35)ActuarialGain/(Loss)onPlanAssets

Nil (6.62) Nil

FundManagementCharges

Nil Nil Nil

FairvalueofPlanAssetsattheendoftheyear

809.41 4787.92 *903.90

*AsperSchedule-3.InterestallocatedonEarmarkedFunds.

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III. Amounts to be recognized in the Balance Sheet Fig.:`lakh

Gratuity Funded

Pension Funded


earmarkedPresentvalueofObligationattheendoftheyear

839.81 4518.91 903.90

FairvalueofPlanAssetsasattheendoftheyear

809.41 4787.92 903.90

Fundedstatus (30.40) 269.01 --NetAsset/(Liability)recognizedintheBalanceSheet

(30.40) 269.01 --

*earmarkedoutofthetotalinvestmentsoftheInstitute,referSchedule-3

IV. Expenses recognized in the Income & Expenditure AccountFig.:`lakh

Gratuity Funded

Pension Funded


earmarkedCurrentServiceCost 36.22 99.28 88.30InterestCost 61.37 321.84 59.34ExpectedreturnonPlanAssets

(61.78) (326.88) *(68.86)

PastServicecost Nil Nil NilNetActuarial(Gain)/Lossrecognizedintheyear

61.93 136.76 86.95

Expensestoberecognized

97.74 231.00 17.50

Less:-AllocatedReturnonEarmarkedFunds

- - --

Less:-OpeningexcessAmount/Plan/FundedAssetavailableoverpresentobligation

- - --

NetCost 97.74 231.00 17.50*InterestallocatedonEarmarkedFunds.

V. Funded Investment Details

Gratuity Pension Leave EncashmentInsurance Policy100%withLIC

Central and StateGovernmentSecurities,PSUBonds, FD’s with HousingFinance companies, SpecialDeposit Schemes and FixedDeposits with ScheduledBanks.

Investments of Rs.428.08lakhwithLIC.Balance investmentsearmarkedoutofthetotal investments oftheorganization.

VI. Actuarial Assumptions

Gratuity Pension Leave EncashmentMortalityTable 1994-96duly

modified2006-08 2006-08

DiscountRate 8.00%p.a. 7.40%p.a. 8.00%p.a.FutureSalaryincrease

10.00%p.a. 7.00%p.a. 10.00%p.a.

ReturnonPlanAssets

8.00%p.a. 7.50%p.a. 7.71%p.a.

Averageremainingworkinglife

20.00years 10.00years 20.01years

6. The Institute has sent letters for confirmation ofDebit/Creditbalances at the year end tomajor Parties. Balance of variousparties including Inter-unit / RC/ Chapters are subject toreconciliationandtheirconfirmation.

7. TheInstituteoperatespredominantlyinIndiaandinonesegment,i.e.,furtheranceoftheprofessionofCompanySecretaries.HenceallitsoperationsfallunderonesegmentonlywithinthemeaningofAS17,SegmentReporting.

8. The details of Prior Period Income /Expenditure are as under:Fig.:`lakh

Income FY 2016-17 FY 2015-16IncomeTaxRecoverable -- 3.21DelegateFee(42ndNC) -- 0.51Saleofpublications -- 2.05SOP(Kolhapur) -- 0.22DelegateFee(CapitalMarket–Mangalore)

-- 0.31

Printing–IEPFBooklets(1010Nos) -- 0.14Miscellaneous 0.26 2.41OtherIncome–43rdNCCorpMembersparticipationfeefromNIRC/MCAwebsitemaintenanceconsultancy/Expensepayablereceipts–FY2014-15

-- 21.98

Total 0.26 30.83ExpenditureUtilizationcertificateCharges 0.57 0.75BulkSMSCharges -- 6.13PrintingExpenses 28.64 24.17AMCCharges 1.29 1.42Travelling/ConveyanceExpenses 9.43 1.45CourierCharges 3.49 2.78PropertyTax 0.50 --IEPFExpense 2.12 1.35ExaminationExpenses 2.69StatutoryAuditFee(STelement) 0.04HonorariumCharges 10.27 0.15SSBExpenses 12.13ReimbursementofChapterExpenses 0.12PresidentMeetingexpenses 4.67 --Programme/ConvocationExpenses 3.34 --43rdNationalConvention 0.38ActuarialExpenses 0.23 0.39BankCharges 0.09ComputerConsumables 0.02

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Fig.:`lakhExpenditure FY 2016-17 FY 2015-16ElectionExpenses 0.09ExaminationExpenses(CasualSalary) 2.28HouseKeeping 0.03Internet/Website 0.27LegalExpenses 0.83 0.16MiscellaneousExpenses 12.78 8.66NationalSeminar 0.02Newspapers 0.12 0.01PrepaidExpenses 1.52ProgramsAbroad 0.05StaffWelfare 1.76 0.19SecurityServices 0.41CallCentreServices 4.08StaffTraining 0.43 0.14TDS 1.63TelecastofRadioSpots 0.45TravelInternational 4.49VehicleRepair 0.40InternalAuditFee 0.72Telephone 0.08TranslationCharge 0.04HRConclave 0.91CompanyLawCommittee 1.12CareerAwarenessWeek 0.05InsuranceClaim 2.83UdaiDivas 2.40ReimbursementtoWIRC 2.89

Total 91.51 78.95Net Income / (Expenditure) (91.25) (48.12)

9. Income Tax(i) The Institute of Company Secretaries of India has been

registeredu/s12AoftheIncomeTaxAct,1961andIncomeTaxreturnshasbeenfiledu/s11/12oftheIncomeTaxAct.

(ii) The assessment for AY 2014-15 has been completed u/s143(3)oftheIncomeTaxAct1961forthereturnfiledundersection 11/12 of the IncomeTaxAct accepting the returnedincome.FurtherassessmentfortheAY2015-16hasbeenmadeu/s 143(1)(a) of the I. T, Act and a demandof` 18.00 Lakhwasreflectedinthetaxcomputationsheet.Anapplicationforrectificationu/s154hasbeen filed towithdrawthedemandandrefundthedueamount.Thesamehasbeencorrectedandrectifiedand` 1,34,68,919/-hasbeenrefundedwithinterestvideOrderNo.CPC/1516/A7/1600333115dated24.12.2016

10. a) In previous year consolidated accounts, figures ofWIROstandalone financial statements was not incorporated asthe samewasnot received till the finalizationof accountsofInstitute and only total assets and liabilities as per auditedfinancial statements as on 31-03-2015 of ` 5.45 Crores and`5.45 Crores respectively was incorporated. Thereafteraudited standalone financial statementswas received,whichreflectedtotalassetsandliabilitiesof`5.69Croresand` 5.69Crores respectively and total revenue of ` 2.30 Crores andtotalexpensesincludingdepreciationof`2.12Croresandnetincomeof` 0.18Crore,whichwasnot been incorporated inpreviousyearconsolidatedfinancialstatement.

b) Further last financial year, i.e. F.Y. 2015-16auditorhasgiventheadverseopinionfornottrueandfairviewofthefinancialstatements of WIRO and some specific observations weremade w.r.t. booking of excess income of ` 15.00 lakhs forsponsorship and booking of lesser expenses of ` 8.32 lakhsfor different vendors andnonbooking of expenses of` 4.28lakhs for foundation day celebration which was shown asrecoverable from HQ and Non confirmation of balances ofInter Units and various parties. Some of the entries havebeen rectified during the year 2016-17. The Council hadconstituted an Investigation Committee and suitable actionisbeing taken in thematter.Further,duringthecurrentyearan amount of ` 2.70 lakhs was unauthorized withdrawnby one of the Regional Council Member towards allegedpayment of legal andprofessional fees. An amount of` 0.45lakhs was incurred against submission of suspicious billsandnon-booking of pendingbills of` 7.38 lakhs for variousvendors which were not accounted for in the year ended31-03-2016.

c) Duringthecurrentfinancialyear,i.e.F.Y.2016-17,consolidatedaudited financial statements of WIRC for F.Y. 2015-16 &2016-17 are considered for consolidation of financialstatement of Institute and accordingly previous year figureshasalsobeenrestated/regrouped/rearranged/recasttomakeitcomparablewiththecurrentyearfigures.

d) The Books of Accounts of WIRO were maintained in ERPSystem till 30-09-2016.However, after1stOctober2016 thesamewasmigratedtotallyERP9.0.Theclosingbalanceason30-09-2016 as per the ERP System was taken as openingbalanceason01-10-2016inTallyERP9.0.ThedataentryinTallyERP9.0hasnotbeenmadeonregularbasis.Entries inTallyERP9.0hasbeenmadebasedonavailablevouchers,billsandrecordswhichwasrelieduponforpreparationoffinancialstatements.

11. Allotment of land includes an amount of ` 288,56,250/-paid to APIIC (now TSIIC) for cost of land at IP-Uppal,Hyderabad comprising total area of 4918 sq meter outof which Sale Deed for 4052 sq. meter has already beenexecuted and Agreement to Sale for balance area of866 sq.meter againstwhich` 50,82,500/- has been paid toAPIIC (now TSIIC) is yet to be executed since the matter isundersubjudice.

12. Previous year building includes a land and building at C-36,Sector-62, Noida comprises total leasehold land area of1375 SqMeters and 4538.16 SqMeters of semi constructedbuilding structure (Basement plus 7 floors) and boundarywall, whichwas purchased for ` 18.34 Crores inclusive of `4.34CroresStampDutyandRegistrationCharges. Incurrentyear value of land and value of semi constructed structureas per sale deed has been bifurcated and an amount of` 9.01 Crores transferred to in lease hold land and balanceamountof`9.33CrorestransferredtoinCWIPascompletionofsemiconstructedbuildingandrenovationworkwasunderprogress. Further during the year total amount of ` 9.68

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Crores out of total budgeted value of ` 13.00 Crores for thecompletion/modificationandrenovationhasbeenincurredforthesaidbuilding.Duringtheyearsomepartofthebuilding(2floors)wasput touseandcapitalizedaccordinglyat theendoftheyearbasedonthecertificateobtainedbythearchitect.TotalvaluecapitalizedduringtheyearoutofamountlyinginCWIPforthesaidbuildingandotherassetsisasfollows:-

A. ValueofSemiFinishedStructure `2.33Crores purchased(2Floors):-B. ValueofCompletedAirConditioner `1.42Crores Plant:-C. ValueofCompletedFurnishing(Glazing) `0.89Crores Work:-D. ValueofAudioVisualEquipments:- `0.87CroresE. ValueofCDCompactors:- `0.29CroresF. FurnitureandFixtures:- `0.70CroresG. InteriorandCivilWork(2Floors):- `2.61Crores Total ` 9.11 Crores

100%Completionofbuildingisexpectedintheyearof2017-18andbalanceamountlyingunderCWIPof`9.90Croresattheendoftheyearplusamount incurredduring the2017-18willbecapitalizedaccordingly.

13. The ICSIhas constitutedan internal committee toassess thepossibility and viability of adoption of 7th pay commissionrecommendations.Noprovisions/contingentliabilityhasbeenmadeinthecurrentfinancialyearasadoptionofthesameisunderdiscretionoftheCouncilandtheCouncilofICSIisyettodecideforthesame.

14. ThedetailsofIncome&Expenditureinforeigncurrency:(`lakh)

a. EarningsinForeignCurrency Current Year

Previous Year

- Feesfromoverseasmembers -- 0.06 - ConventionStalls -- 0.73b. Expenditureinforeigncurrency - Membershipfee 5.15 7.00 - InternationalWorkshop 2.84 5.02 - TravellingExpenses 0.18 10.35 - MiscellaneousExpenses 1.60 --

Total b. 9.77 22.37

15. AspertheNotificationNo.GSR308(E)dated30thMarch2017,thedisclosureregardingdetailsofSpecifiedBankNotes(SBNs)heldandtransactedduringtheperiodfrom8thNovember2016to30thDecember2016hasbeentabulatedbelowRegion-wise:

ICSIHQ(IncludingCCGRT):

ParticularsSpecified

Bank Notes (SBNs)

Other Denomination

Notes

Total (`)

ClosingCashinhandason8.11.2016

44,500 14,842 59,342

(+)PermittedReceipts -- 5,98,327 5,98,327(+)CashwithdrawalfromBank -- 6,64,000 6,64,000(-)PermittedPayments -- 11,77,045 11,77,045(-)AmountDepositedinBanks 44,500 -- 44,500Closingcashinhandason30.12.2016

-- 1,00,124 1,00,124

EIRC:


Bank Notes (SBNs)

Other Denomination

Notes

Total (`)


70,500 9,991 80,941

(+)PermittedReceipts -- 10,90,720 10,90,720(-)PermittedPayments 5,000 1,55,784 1,60,784(-)AmountDepositedinBanks 65,500 8,26,730 8,92,230Closingcashinhandason30.12.2016

-- 1,18,197 1,18,197

NIRC:


Bank Notes (SBNs)

Other Denomination Notes

Total (`)


1,03,748 1,65,674 2,69,422

(+)PermittedReceipts -- 19,03,110 19,03,110(-)PermittedPayments 452 3,08,028 3,08,480(-)AmountDepositedinBanks 1,02,000 16,75,816 17,77,816Closingcashinhandason30.12.2016

1,296 84,940 86,236

16. Previous year’s figures have been regrouped/rearranged/recastwhereverconsiderednecessarytomakeitcomparablewithnewformatwiththoseofthecurrentyear.

Asperourreportofevendate. For and on behalf of the CouncilFor BANSAL SINHA & CO. CharteredAccountantsFRN006184N CA Sameer Gupta CS Dinesh C Arora JointSecretary(F&A) Secretary(NISHANTCHAUDHARY) Partner MNo.513802 CS Makarand Lele CS (Dr.) Shyam Agrawal VicePresident PresidentPlace:NewDelhiDate:26thSeptember,2017

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RECOGNITIONS SECURED FOR COMPANY SECRETARIES

TheListofRecognitionsSecuredforCompanySecretariesareavailableontheWebsiteoftheInstituteatlink:https://www.icsi.edu/Member/ListofUnivresityforCS.aspx

LIST OF UNIVERSITIES WHICH HAVE RECONGNISED THE COMPANY SECRETRYSHIP QUALIFICATION AS EQUIVALENT TO POST GRADUATE DEGREE

FOR PURSUING PH.D COURSETheList ofUniversitieswhichhaveRecongnised theCompanySecretryshipQualification asEquivalenttoPostGraduateDegreeforPursuingPh.DCourseareavailableontheWebsiteoftheInstituteatlink:https://www.icsi.edu/Webmodules/Recognition_Secured_for_company_Secretaries.pdf

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AGuidetoBoardEvaluation

SecretarialStandards,SS-1&SS-2

ReferenceronBoard’sReport

Amendment Rules, Circulars, Notifications andOrdersunderCompaniesAct,2013

GuidetoCompaniesAct,2013

IncorporationofCompanies-CompaniesAct,2013series

ReferenceronPre-certificationofe-forms-Revision

Amendment Rules, Circulars, Notifications andOrdersunderCompaniesAct,2013

TheCompaniesAct,2013

TheCompaniesRules

RecollectionsofaPioneer

CompanyLawManual

CorporateLaws

CompaniesAct,2013

NCLT and NCLAT Convergence of CorporateJurisdiction

GuidanceNoteonGeneralMeetings

GuidanceNoteonMeetingsofBoardofDirectors

GuidanceNoteonAnnualReturn

SEBI (Listing Obligations and DisclosureRequirements)Regulations,2015–AReferencer

CoffeeTableBookonCorporateGovernance

CoffeeTableBookonCSR

CorporateBankruptcy–APrimer

LIST OF PUBLICATIONS (2016-2017)

BackgrounderonNationalCompanyLawTribunal

GuidanceNoteonAOC-4

GuidanceNoteonSecretarialAudit(Release1.3)

ReferenceronBoard’sReport

FAQ’sonSection8Companies

SEBI(LODR)Regulations,2015–DebtSecurities

NCLTandNCLAT-Manual

Guidance Note on Code of Conduct for CompanySecretaries

SettingupofPracticebyCompanySecretaries

Golden Leafs – ICSI’s National Conventions(1972-2015)

DelistingofEquityshares

CyberCrimes:Law&Practice

Handbook on Arbitration, Conciliation andMediationwith

specialreferencetoCompaniesAct,2013

TransferPricingReferencer

ChallengingOpportunitiesforPractisingCompanySecretariesinLabourLaws

UnderstandingFinancialStatements

TechnicalAnalysis

CSSAATHI

RiskManagement

CGCertification

IndependentDirectors–Ahandbook

CompaniesActandLODR–aComparison

********