Students’ Lecture Meeting on 24th February 2015
Lecture Meeting on Performance evaluation of the Board of Directors including Independent directors, on 25th February 2015
On 25th February 2015, Ms. Smita Anand, Leadership & Talent Consulting, India & Head, Board/CEO Succession, Asia spoke on Governance matters: Performance evaluation of Board of Directors including the independent directors, at the IMC.
The speaker gave an overview of how governance matters at the Board level and how to differentiate between high performance boards and also-ran boards. She took the audience through some of the common issues faced in under-performing boards such as lack of strategic alignment, poor team dynamics, lesser role clarity, poor process driven management and wrong board make up.
She discussed at length as to how a board can move from process-driven approach to behaviour-driven approach. A company can grow from being a foundation board by having basic compliance in place, to a developed board which takes care of future proofing and basic compliance to an advanced board that takes into account high performance, future proofing and basic compliance, and finally, the strategic board that has its strategic assets in terms of world class insights, relentless focus on tomorrow and all the rest of the parameters of an advanced board.
Finally, the discussion was summed up on the 6 pivotal areas which lay the gold standard for good governance in companies.
Students’ Lecture Meeting on How to Succeed in CA Exams – Success Mantra and Practical Tips, on 24th February 2015
This lecture meeting was held at RVG Hostel, Andheri West, Mumbai. CA. Mayur Nayak, Past President, Chairman of Human Resources Committee of the Society conducted his 3rd Program on the topic for the benefit of Students pursuing CA. This session was basically conceived on the technicality of handling the pressure of Exams and various situations they personally come across during this period. His presentation covered the technique of dealing with fear of failure, lessons from the nature & law of Karma. He also gave various demos of exercises for keeping oneself calm during the exams. Students present gained immensely from the knowledge and technique shared by the eminent speaker.
Lecture Meeting on 2nd March 2015 on the Finance Bill (Economic and other aspects)
This lecture meeting was held jointly with Nani Palkhivala Memorial Trust, Forum of Free Enterprise, M.R. Pai Foundation, The A.D. Shroff Memorial Trust, Council of Fair Business Practices at Patkar Hall, New Marine Lines, Mumbai. Mr. H. P. Ranina, Noted Tax Expert & Mr. Yashwant Sinha, Former Union Finance Minister delivered a talk on various aspects of the Union Budget 2015-16 Members present gained immensely from the knowledge shared by the speaker.
Mentoring Seminar on 26th February 2015
The Membership & Public Relations Committee has launched its mentoring program at L. N. Welingkar Institute of Management Development and Research, Mumbai. This unique program endeavours to bring together young chartered accountants (mentees) and some handpicked seniors from the CA profession (mentors). Over a span of 6 months, the mentors will coach, guide and support their mentees in their professional journey so that the mentees are better equipped to achieve their career goals and visions. Participants immensely benefited from the session they attended and the journey continues.
Lecture Meeting on Direct Tax Provisions of Finance Bill, 2015 on 4th March 2015
Mr. S. E. Dastur, Senior Advocate, addressed our members on the Direct tax provisions of the Finance Bill 2015. Mr. Dastur explained the impact of the proposed amendments, highlighting instances of grey areas.
In regard to the proposed amendment in the definition of a resident applicable to foreign companies, he felt that the definition, of place of effective management, as proposed would lead to hardship and litigation.
Regarding the threshold set at 50% for the word ‘substantially’ in the proposed explanation 6 to Section 9(1), with reference to indirect transfers, Mr. Dastur pointed out that though the amendment was in consonance with the recommendations of the Shome committee, the word substantial would ordinarily mean something much more than 50%. Commenting on amendment to the proviso to Section 2(15), he felt that, the limit of 20% of receipts from any activity in the nature of trade, commerce or business, as against an absolute limit of 25 lakhs may actually affect smaller trusts adversely.
The speaker was critical of the amendment to section 263. In his opinion, extending the power to revise an order of an assessing officer, on the ground that it was passed without making inquiries or verification, would lead to extensive litigation, for as to what constituted sufficient inquiry or verification was a very subjective matter.
Mr. Dastur commented on a number of other provisions, in the finance bill. His presentation was of immense value addition to all, those present at the venue, as well as those, who heard him through the live web cast.
Udat Abeel Gulal on 5th March 2015
It was a proud moment for BCAS and BCAS Foundation to organize a music concert “Udat Abeel Gulal”, together with a few other organizations at the Bharatiya Vidya Bhavan on 5th March, 2015 in aid of Vicharata Samudaya Samarthan Manch (VSSM), an NGO dedicated to the cause of nomadic tribes. Attended by a large audience, it started with jugalbandi of Santoor and Saraswati Veena by very senior maestros Shri Snehal Muzoomdar and Shri Narayan Mani. They were accompanied by a team of virtuoso musicians and interspersed with Vedic chants by Ved Pandit Dr. Narasimha Ghanpatigal. Explaining the theme “Bairagi se Basant”, Compere Mihir Sheth vividly created an atmosphere for celebration of spring with quotes from Kalidasa and Rig-Veda. Narrating the ethos of the theme, he said when season of Basant arrives, Abeel and Gulal colour our lives, the fire of Holi protects our lives, give us the prosperity and hence, we all invoke Firegod Agni as narrated in Agnisooktam in Rig-Veda whose hymns are often chanted in raga Bairagi.
The Jugalbandi started with raga Bairagi rendered on Santoor and Saraswati Veena interspersed with chanting of Vedic hymns and then deftly moved on to raga Basant and Kafi, which are the popular ragas of the Basant season. The musicians were accompanied by vocalists Nupur Joshi and Gayatri Narayan. A Fine balance of melodious music with perfect percussion left the audience completely mesmerised.
The second session, “hori rasiya and haveli Sangeet” began with an introduction of the session by compere mihir Sheth, touching hearts of audience with his imaginative description of hori (holi) played by Krishna and Gopis in Brindavan. Creating the atmosphere of ras, raga and sangeet he said that going by the calibre of the artists present, the music of the second session was certain to fill the hearts of all present with bliss appropriate to the festival of holi. the second session began with hori raga and haveli Sangeet devotedly sung by Shri Hemang Mehta evoking great response from the audience. Smt. Sraboni Chawdhari, another accomplished artist delighted the audience with her thumris, followed by Shri mangal mishra who enthralled the audience with his captivating voice singing Bandish and haveli Sangeet. Each artist performed with a unique style creating a sheer magic on audience which was deeply intoxicated with nectar of bliss as promised.
The jugalbandi started with Raga Bairagi rendered on Santoor and Saraswati Veena interspersed with chanting of Vedic hymns and then deftly moved on to raga Basant and Kafi, which are the popular ragas of the Basant season. The musicians were accompanied by vocalists Nupur Joshi and Gayatri Narayan. A fine balance of melodious music with perfect percussion left the audience completely mesmerised.
This event also provided opportunity to the audience to see the presentation of the great work being done by Ms. mittal patel of Vicharata Samudaya Samarthan manch (VSSM) who spoke of the challenges that the wandering, nomadic tribes live with. She made emotional appeal to the audience to be sympathetic to their cause saying that they are denied even a right of existence. audience was most receptive and with the result VSSm could collect donations of approx. rs. 6,50,000/ for a worthy cause.
Budget meeting on indirect Tax provisions of the Finance bill, 2015 on 11th March 2015
The lecture meeting was held at Walchand hirachand hall, IMC. Mr. Vikram nankani, Senior advocate addressed the audience on various aspects of indirect tax provisions of the finance Bill, 2015. Mr. Nankani discussed about the increase in service tax rates and detailed provisions on revising penalty rates for Customs, excise and Service tax. He explained the amendment to various sections such as section 78(B), section 67 and the significant change in terms of a service rendered by a Government or local authority through a business entity he also covered the significant changes made to section 73(1)(b) –recovery of
Service tax amount in self -assessment where a liability is arrived at, and in his view it violates all the canons of natural justice. He also welcomed the change with reference reverse charge mechanism (including partial reverse charge),
Mr. nankani also discussed the changes with reference to fema provisions.
Workshop on power of Visual Communication on 14th March 2015
Membership & public relations Committee had organised this Workshop at BCA Society Office, Mumbai for Women CAS & CA Students. Ms. himani Shah, trainer in her session covered the topics such as first impression, power dressing, defining authority with visual communication & grooming. the purpose of the workshop was to empower the women participants with the tips to project a powerful image at their workplace. 30 participants attended and benefited from the expert deliberation of the faculty.
