THE FIRST ‘VIRTUAL’ RRC! IS IT HERE TO STAY?
A REPORT ON THE 54TH BCAS RRC
Greater attendance from more cities, the first-ever virtually hosted ‘refresher’ programme and a puppeteer-ventriloquist to boot! These are some of the highlights of the annual Gyan Ganga, also known as the Annual Residential Refresher Course (RRC) of the Bombay Chartered Accountants’ Society (BCAS), that was organised in the midst of the Covid-19 pandemic from the 7th to the 10th of January, 2021.
This was the 54th edition of the flagship event and it was attended by more than 160 participants from 39 cities and towns apart from Mumbai.
The organisers treated the difficulties, restraints and restrictions posed by the pandemic as opportunities to seek out the best in terms of the Chief Guest, the panellists, faculty, thought providers and so on. Overlapping and sometimes clashing engagements, physical locations and distances were no longer a limitation. Acknowledging the need to ‘admit rather than to restrict’, the doors of the RRC were virtually thrown open to non-members, a few of whom attended and took benefit of the landmark annual event.
From left: Uday Sathaye, Suhas Paranjpe, Narayan Pasari
Countless calls and virtual meetings resulted in drawing up a programme that promised to provoke and trigger fresh thought, debate and conversation. Of course, the time-tested mix of panel discussions, paper presentations, group discussions and talks was not neglected.
As members are aware, one of the main attractions of an RRC is the opportunity to interact with a melange of like-minded professionals and experts from diverse fields, practices and regions.
Any misgivings about the ability to attract an audience in the pandemic were washed away with the early registration of one of our senior-most Past Presidents, Pradyumna Shah, under whose aegis and Presidentship the very first RRC was held in the year 1968-69.
Invigorated by this vote of confidence, the days leading up to D-Day were spent in smoothening out technical issues, preparing videos and notes on how to log in, mock trials with panellists, paper presenters and so on to check the reception quality and also to test their bandwidths!
The first morning (7th January) was earmarked for young delegates to participate in the ice-breaking event, the ‘40s under 40’ programme led by our own youth, or Yuva Shakti, Anand Bathiya and Chirag Doshi.
President Suhas Paranjpe then went on to start the inaugural session by welcoming the participants and briefing them about the BCAS. Seminar, Public Relations and Membership Development Committee Chairman Narayan Pasari spoke about the RRC and gave details of the schedule.
Clockwise from top left: Adv Ajay Singh, Prof. Sunil Sharma, CA Sumit Seth, CA Vikram Pandya, CA Abhay Desai, CA Abhitan Mehta
In acknowledgement of the stellar contribution of our Past President under whose leadership the seed of the RRC was planted half a century ago, the BCAS felicitated Pradyumna Shah who, at the young age of 91, leads by example, proving that learning never stops. Vice-President Abhay Mehta read out the citation that was presented to him.
This was followed by the release of a book authored by another Past President, Uday Sathaye. BCAS also launched its ‘Gift A Membership Scheme’ under the benign gaze of the esteemed Guest of Honour, Mr. Dilip Piramal, Chairman, VIP Industries. In his address, Mr. Piramal spoke candidly on the subject ‘The New Normal – Doing Business in India’. An interactive session, deftly moderated by Joint Secretary Mihir Sheth and the SPRMD Committee Member Dr. Sangeeta Pandit followed.
Mr. Dilip Piramal reflected upon his life experiences and motivated the online audience with his frankness, simplicity and humility on a number of contemporary issues posed to him by the moderators.
Treasurer Chirag Doshi proposed the vote of thanks to the Chief Guest. Also present at the opening session were the Conveners of the Committee, Kinjal Bhuta, Mrinal Mehta and Preeti Cherian.
The inaugural session was followed by the much anticipated curtain-raiser Panel Discussion which saw Jayesh Sheth, Raj Mullick, Vishal Gada and Rutvik Sanghvi lay threadbare the intricacies relating to ‘Business in Digital Economy – An Overall Perspective from Direct Tax, Indirect Taxes, Accounting & FEMA’. The panel was moderated and deftly steered by Past President Chetan Shah and Treasurer Chirag Doshi.
On the second morning, 8th January, Abhitan Mehta started the Group Discussion on ‘Revenue Recognition Accounting – Direct Taxes & Indirect Taxes Aspects’. For each Group Discussion Paper, the participants were divided into four online groups with a Group Leader and an Observer in each for interactive deliberations and discussions on the subject.
Later, the participants took active interest in the Paper Presentation by Sumit Sheth on the subject ‘CARO Reporting & Other Recent Company Law Issues’. This session was chaired by Past President Ashok Dhere. In the evening, Abhitan Mehta returned in a lengthy session in which he presented his replies to the paper that had been discussed in the morning. This session was chaired by Vice-President Abhay Mehta.
Day 3 commenced with the Group Discussion on ‘Case Studies in Direct Taxes (Special Emphasis on Corporate Taxation Schemes & Issues, Penalties & Prosecutions & COVID Impact)’ by Advocate Ajay Singh. In-depth discussions took place among all the four groups. This was followed by the Paper Presentation by Abhay Desai on ‘Intricate Issues in GST, Special Emphasis on Input Tax Credit, Place of Supply, Point of Taxation & Valuation’. This session was chaired by Past President Govind Goyal.
Glimpses of the 54th BCAS RRC
The array of speakers, paper-writers, moderators and others who enriched the
proceedings of the RRC
Yet another stimulating Paper Presentation followed. This one was by Vikram Pandya on the ‘Use & Impact of Artificial Intelligence & Data Analytics for Professionals’. Dr. Sangeeta Pandit chaired this session.
And then it was time to release the much-awaited BCAS App. This was formally done by President Suhas Paranjpe and other office-bearers with much fanfare. The contribution of Joint Secretary Mihir Sheth in the making of the App was hailed and recognised.
The evening ended with a unique entertainment programme by Satyajit Padhaye, a CA and also an ace puppeteer and ventriloquist, which was enjoyed by all the participants and their families. This programme was chaired by Past President Pranay Marfatia.
Day 4 started with replies by Advocate Ajay Singh on his paper ‘Case Studies in Direct Taxes (Special Emphasis on Corporate Taxation Schemes & Issues, Penalties & Prosecutions & COVID Impact)’. This session was chaired by Past President Anil Sathe.
The pièce de résistance of the 54th RRC was the talk by Prof. Sunil Sharma, Faculty, IIM-Ahmedabad, on ‘Strategic Thinking & Organisational Alignment’ which was chaired by Past President Rajesh Muni. The occasion also marked the e-release of the e-book‘Gita for Professionals’ authored by Chetan Dalal.
The virtual RRC concluded with acknowledgements and thanksgiving to all those who had worked towards delivering a successful RRC, especially the ‘Tech Team’ comprising Anand Kothari, Gaurav Save, Mehul Gada, Rimple Dedhia and Ronak Rambhia who had worked tirelessly to deliver a seamless experience.
Till we meet again in 2022 at the 55th RRC!
PREFACE
‘Dear Esteemed Readers,
In the words of our dear Father of the Nation, Mahatma Gandhi, “Be the change you wish to see in the world”. This phrase aptly describes our respected vadil, our Past President, Shri Pradyumnabhai N Shah.
The seeds of the Bombay Chartered Accountants’ Society’s Residential Refresher Course (RRC) were planted under his Presidentship in the year 1968-69. Over the past five decades, countless members, nay generations, have reaped the fruits of this bountiful tree, while sheltering and prospering under its benevolent reach.
One of the early registrations at the 54th edition of the RRC this year, the first one in virtual mode, was none other than our dear Shri Pradyumnabhai himself. All of 92 years of age, his hunger for learning and his commitment to the Society and profession are truly inspirational.
The Seminar, Public Relations & Membership Development Committee (SPR&MD Committee) of the BCAS, which organises the RRC every year, was privileged to honour the contributions of our dear Shri Pradyumnabhai with a citation presented at the hands of the esteemed Chief Guest, Shri Dilip Piramal, Chairman, VIP Industries.
Pradyumnabhai, thank you for showing us the path, for being the torchbearer for the RRC. We, at the BCAS, will be eternally grateful for the legacy you have bestowed on all – the past, the current and the future generations of members – all part of this vibrant Society.’
