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Category: RRC Report

59th Members’ Residential Refresher Course – A Report

The flagship event of BCAS, the Members’ Residential Refresher Course (RRC), was held in the “Silicon Valley of India” – Bengaluru between Friday, 23rd January, 2026 and Monday, 26th January, 2026.

In an era where the role of the Chartered Accountants is rapidly evolving beyond compliances into Strategy, Leadership, Technology, And Trusted Advisory, Practice 360° – A Holistic Revolution seeks to Re-Imagine the modern CAs’ practice. This Members’ RRC was designed to provide a comprehensive, 360-degree perspective on Professional Practice—integrating technical topics of Taxation and Audit with Technology Adoption, Global Opportunities, Strategic Collaboration and Leadership.

A recce in December 2025 helped the Seminar, Membership & Public Relations (SMPR) Committee to decide the venue as Sheraton Grand Bengaluru Whitefield Hotel & Convention Center, Whitefield, Bengaluru.

As the RRC approached and preparations were in full swing, it was decided to further enhance the value of this year’s RRC paper book. Traditionally, the paper book has comprised only case studies / presentation papers. This year, however, it was thoughtfully expanded to include 16 articles authored by former Presidents of BCAS, eminent Chartered Accountants, a Doctor, and members of the BCAS staff. Last year during the 58th Members’ RRC, the participants paid homage to Ram Lalla and sought His blessings at Shree Ram Mandir, Ayodhya. This year, the SMPR Committee chose to visit an institution of academic excellence – the Indian Institute of Management, Bangalore (IIM-B). The visit to IIM Bangalore with an exclusive session with the Dean, complemented by engaging Group Discussions, Insightful Paper Presentations, and thought-provoking Brain Trust sessions, elicited an exceptional response. With a total of 155 participants drawn from 26 States / Union Territories and 35 cities and towns, the RRC witnessed pan-India participation.

On Day 1, participants from all parts of the country descended into Bengaluru. They were greeted with warm hospitality by the hotel staff and the BCAS events team. Post lunch, all gathered for the Group Discussion on “Taxation (Domestic and International) – Family Office & Succession Planning”.

Inauguration of the 59th

Addressing at Inaugural Session

It was followed by the Inaugural Session wherein President, CA Zubin Billimoria welcomed all the participants and spoke about the Committee’s decision to visit a different kind of temple—the “Temple of Knowledge,” the Indian Institute of Management, Bangalore (IIM-B). Former President and Chairman of the Committee, CA Uday Sathaye, provided a comprehensive overview of the RRC, emphasizing its objectives, relevance and thought process behind its comprehensive agenda including other relevant highlights of RRC. The Chief Guest CA F. R. Singhvi then lit the ceremonial lamp flanked by the President, the Vice President, Former Presidents, the Chairman / Co-Chairman of the Committee, Joint Secretaries and Committee Convenors.

Guiding the Group

CA F R Singhvi & CA Rahul Gabhawala

CA F. R. Singhvi gave a compelling speech on “Ethics in Business and Profession”. He emphasized on the importance of Chartered Accountants practicing their profession with integrity and ethics. He also extolled the members to step out of traditional practice areas and spoke of his dream to see a Big 4/ Big 6 among Indian CA firms.

The next session was a Presentation Paper by CA Rahul Gabhawala on “Technology Masterclass – Workshop on Tools & Techniques in Taxation”. The session was chaired by Former President CA Govind Goyal. The session was conducted in a classroom format, with participants receiving hands-on instruction on their laptops in the fundamentals of Selenium, an open-source browser automation tool.

Day 2 commenced with a Presentation Paper by CA Vishal Doshi on “Audit Quality Maturity Model and Standard of Quality Control 1 – Building Quality Audit Firms” wherein he provided practical guidance on its implementation. The session was chaired by CA Uday Sathaye.

The next session was the replies by CA Girish Vanvari to the Case Studies discussed the previous day. He provided an overview of key considerations of M&A transactions happening in the real world and the practical way forward. The session was chaired by Former President CA Pranay Marfatia.

Speakers RRC

This was followed by a 40-40 session where CA Manish Dafria provided a quick overview of “The Income Tax Act, 2025”. The session was chaired by CA Sanjay Shah.

Post a refreshing and sumptuous lunch, next session “Global Outsourcing – Broadening one’s horizons” was addressed by CA Chetan Venugopal. He introduced the participants to the opportunities available for Chartered Accountants at the global level and shared his journey of leading his organization from being a start-up with two founders, to a multinational organization with more than 2,000 employees! The session was chaired by Vice President, CA Kinjal Shah.

Panel Discussion

Despite a tiring day, the participants enthusiastically attended the last session of the day – the Inter-Disciplinary Brain Trust session covering “Hospitality (Hotel, Travel & Tourism) and Start-ups”. The esteemed panel of CA H. Padamchand Khincha, CA Mandar Telang and CA Mohan Lavi presented their views on the case studies at hand. The session was ably moderated by CA Priya Bhansali and CA Sanjay Dhariwal. The panelists deep dived into the various intricacies of the case studies.

IIM Bangalore Shri Sourav M

Day 3 began on an energetic note, with the enthusiasm of the participants evident in the early hours of the morning as they got into the coaches to head to IIM-B campus. During the guided campus tour, participants enjoyed exploring the lush green and iconic surroundings, enthusiastically capturing photographs at locations made famous by the the movie “3 Idiots” which had been shot on the campus. The tour offered a glimpse into the academic legacy and serene environment of one of India’s premier management institutions.

Following the campus tour, all assembled in the auditorium, setting the stage for the next segment – an engaging session on “Strategic Thinking” by Shri Sourav Mukherji, the Dean, Faculty & Professor, Organizational Behavior and Human Resources Management.

The session commenced with a short introduction on the subject followed by an interactive discussion with the participants on the case study of “Robinhood”. The Professor drew parallels with the challenges faced by modern day business houses/ organizations. He concluded the session with an important message – not all problems have only one right or wrong answer. The same needs to be solved by Critical Thinking, Experimentation and Debates. Post ethnic South Indian meal, the participants embarked on the return journey.

After a refreshing tea break and the RRC group photo, the participants gathered in their break-out groups for the group discussion on a paper “Collaborations & Coalitions – Mergers, Acquisitions, Alliances between CA Firms”.

Group Dicussion

The session following this was the 40:40 session “Government Schemes applicable to MSME & Professional Firms” by CA Piyush Mital wherein he gave an overview of the various subsidies available especially to Chartered Accountants/ their firms. The session was chaired by CA Mrinal Mehta.

The evening concluded with a townhall wherein the President, Vice President, Chairman, Co-Chairman, and Convenors shared their experiences in organising and hosting the RRC. Participants who had contributed towards the RRC in various capactities were felicitated with a memento. With more than 40 participants as first-timers at the RRC, many of them took to the stage to acknowledge the powerful impact the sessions had left on them and promised to become a regular face at future RRCs. The engaging Group Discussions, Insightful Paper Presentations, and thought-provoking Brain Trust session complemented by a visit to IIM Bangalore with an exclusive session by the Dean drew much admiration with positive response.

Day 4 commenced with the replies to the case studies by CA Guru Prasad Makam. He addressed the audience by drawing upon his extensive real-life experiences. He shared his learnings and insights in a frank manner. His talk elicited two standing ovations from the audience. The session was chaired by CA Chirag Doshi.

Following this session was a presentation on “Role of CFO in Disruptive Start-Ups” by CA Rajiv Gupta. The session was chaired by CA Uttamchand Jain.

Closing Ceremony

CONCLUDING SESSION:

In the concluding session, the President and the Chairman expressed their appreciation to all those whose efforts contributed to the smooth and successful execution of yet another RRC, with special appreciation for the support extended by the local members, CA Sujatha G and CA Sanjay Dhariwal.

As the curtains were drawn, marking yet another impactful RRC that encouraged meaningful reflection on the current landscape of the profession and its future direction, the gathering was aptly concluded by a poem in Hinglish by a participant, CA Sweety Kothari:

1) Vanvari Sir ka family office aur succession par flawless deliberation

Singhvi Sir ka professional ethics ka important lesson

Rahul Sir ka computer program ke self writing ka direction

Yaad rahega! Yaad rahega!

2) Vishal Doshi Sir ka AQMM ka point-wise explanation

Chetan Sir ka lecture on broadening horizons

Manish Sir ka IT Act 2025 ka practical vishleshan (analysis)

Yaad rahega! Yaad rahega!

3) Hotel start-ups wala brain trust session

Padamchand Khincha Sir ka complicated issues par refined opinion

Mandarji Mohanji ka har case par full explanation

Priya Ji Sanjay Ji ka soft but up-to-mark moderation

Yaad rahega! Yaad rahega!

4) Guru Sir ka CA firms merger wala equation

Rajiv Sir ka CFO role ki nayi definition

Piyushji ka government subsidy ka simplification

Yaad rahega! Yaad rahega!

5) IIM campus tour par jaana

Gyaan ke mandir ki parikrama lagaana

Sourav Ji ka Robinhood case samjhaana

Hum mein Strategic thinking ki spark jagaana

Chirag Ji ka hare tortoise ki story new perspective se sunaana

Yaad rahega! Yaad rahega!

6) Sessions ke beech mein samay churaana

Different professionals se ghul mil jaana

Lunch dinner par milna aur gapiyana (gossip)

Bus mein Hindi-Tamil songs ek sur mein gaana

Swimming pool ke kinaare der raat tak gossip

Poking, joking, hasna aur khilkhilaana (laughter)

Yaad rahega! Yaad rahega!

7) Uday Sir ke couplets aur enthusiasm

Sheraton ka stay aur delicious vyanjan (delicacies)

Chirag, Preeti, Aditya, Vivek ka flawless coordination

Zubin Sir ka experienced margdarshan

Yaad rahega! Yaad rahega!

8) Siddharth Dikshita ka Bangalore ghumaana

Corner House ka almond fudge khilaana

Raat ko 1 baje waffle order karna

Bangalore RRC mein unforgettable memories banana

Yaad rahega! Yaad rahega!

Group Photos

Report On BCAS 58th Members’ Residential Refresher Course

The flagship event of the Bombay Chartered Accountants’ Society (BCAS), the Members’ Residential Refresher Course (RRC), was held in the city of Nawabs, Lucknow between Wednesday, 26th February, 2025 and Saturday, 1st March, 2025.

Keeping pace with the theme “ReImagining the Profession” of the immensely successful three-day mega conference, held in January 2024, the theme of the 58th RRC was finalised as “Profession Today And Tomorrow”. The Committee was seized of the need to deliver an event that would be both contemporary and forward looking. The topics and speakers were carefully selected and fitted in the time-tested mix of panel discussion, paper presentations and group discussions.

The annual RRC is nothing short of a yearly pilgrimage for her die-hard bhakts (devotees), and the consecration ceremony of Shree Ram Mandir in January 2024 had triggered the desire to hold the next year’s RRC in Ayodhya. This would provide the members a chance to pay obeisance to Ram Lalla and seek His blessings. With no hotel in Ayodhya large enough to accommodate a contingent of 175+, the Seminar, Membership & Public Relations (SMPR) Committee of the BCAS and the Office Bearers zeroed in on Lucknow — less than 160 kms from Ayodhya and, more importantly, with hotels large enough to accommodate the mammoth RRC contingent. The recce in October 2024 helped decide the venue — the newly constructed hotel, The Centrum, Lucknow.

Respecting the natural desire to visit Shree Ram Mandir along with their significant other, for the second time in history, a decision was taken to permit member spouse and children to register for the RRC. The response was immediate — it was houseful by the time the Early Bird stage ended! A total of 187 participants, drawn from 14 states and 31 cities and towns, including 11 non-residential members registered for the event. A heartening realisation was that for 76 members, this would be their very first RRC! Participants also included 2 newly wed couples, 5 member couples including a couple who gifted the BCAS Life Membership to their recently qualified daughter and enrolled her for the RRC as well.

The excitement in the air on the afternoon of 26th February was there for all to see as delegates checked in from all corners of the country. Day 1 began with the group discussion on “Case Studies in Direct Taxes on Assessment, Reassessment, Reviews and Appeals” which saw the break-out groups discuss the challenging and compelling case studies threadbare. This was followed by the formal inaugural session, with CA Preeti Cherian, Convenor, SMPR Committee, extolling everyone with the city’s tagline, “Muskuraiye! Aap Lucknow Mein Hain!”.

The President, CA Anand Bathiya, in his address, thanked the Committee for delivering on its promise to make the dream of visiting Shree Ram Mandir into a reality. He spoke about how the “Members’ only” flagship event of BCAS, the RRC has stood the test of time and continues to have its devoted following; the RRC serves as a confluence of like-minded members, with each one bringing a certain uniqueness to the table. The Chairman of the Committee, CA Chirag Doshi elaborated on the relevance of the RRC, selection of the venue, detailed schedule and RRC statistics.

It was then the turn of the unbeaten RRC champion (with 38 RRCs Not Out), Past President, CA Uday Sathaye to take centre stage and to formally introduce the Chief Guest, Past President CA Govind G Goyal to the audience. Past Presidents of ICAI, CA Mukund Chitale and CA Ved Jain joined the Chief Guest, the President CA Anand Bathiya, the Vice President CA Zubin Billimoria, the Past Presidents CA Anil Sathe,CA Ashok Dhere, CA Pranay Marfatia, CA Rajesh Muni and CA Uday Sathaye, the Chairman CA Chirag Doshi and the Convenors of the Committee, CA Ashwini Chitale,CA Mrinal Mehta and CA Preeti Cherian in lighting the ceremonial lamp. The esteemed Chief Guest and Past President, CA Govind G Goyal spoke in chaste Hindi about his association with BCAS in general and with RRCs in particular.

 

 

The inaugural session was followed by the curtain raiser — the fireside chat on the contemporary topic “Journey of CA Firms (Investible Firms, Mergers and Alliance of Firms)” with CA Manish Modi and CA Vaibhav Manek. The chat was moderated by Managing Committee member, CA Samit Saraf. The panelists spoke frankly of the challenges and opportunities their individual journeys had posed / opened up for them.

 

Day 2 started with the participants experiencing the mehman-nawaazi (hospitality) of our local member, CA Pradeep Kumar who made special arrangements to make available a huge cauldron of the winter speciality Malai Makhan at the breakfast table.

Suitably satiated, the participants were greeted by Convenor, CA Rimple Dedhia as they sat down to listen to the Past President of ICAI, the erudite Adv. CA Ved Jain discuss in detail the intricacies of the case studies which had been deliberated upon a day prior by the groups. The session was chaired by CA Pankaj Agarwal.

The Presentation Paper I “Role of Chartered Accountants in IPO Process” by CA Sumith Kamath helped the audience realise the opportunities available to CAs in this otherwise less explored terrain. The session was chaired by Past President CA Rajesh Muni. The Presentation Paper II “Practical Use of Technology in Professional Firms” by CA Rahul Bajaj had the audience captivated as they experienced for themselves the power of AI through his live demonstrations. The session was chaired by Joint Secretary, CA Kinjal Shah. The fact that the participants were reluctant to allow the session to close for the lunch break (despite it being way past 2 pm!) speaks volumes.

Post a sumptuous meal, Convenor, CA Mrinal Mehta invited all gathered to the Multi-Disciplinary Brains Trust session on the topic “Interplay of Direct Tax, GST Law and Audit on issues relating to Real Estate and Health Care Industry”. The esteemed panel comprising the Past President of ICAI, CA Mukund Chitale, Past President CA Anil Sathe and Shri Vishal Agarwal presented their views on the case studies at hand. The session was ably moderated by Adv CA Kinjal Bhuta and CA Mandar Telang. The day had been long; however, given that the dawn held the promise of fulfilling their dream of a lifetime, the participants felt doubly energised as they retired for the night.

Day 3 found a super enthusiastic group of devotees dressed in traditional attire, gather in the hotel foyer, eagerly waiting for the buses to take them to Ayodhya. The Committee Organisers had pulled out all stops to ensure that all the logistic arrangements, permissions, etc to transport the 190+ devotees from Lucknow to Ayodhya and back, were in place. The recently concluded Maha Kumbh Mela had resulted in unprecedented crowds flooding Ayodhya after taking the holy dip. The strain on the infrastructure had been tremendous — and yet, despite all this, through divine intervention undoubtedly, the entire contingent travelled to Ayodhya in a seamless manner.

The Sugam Darshan of Ram Lalla organised by the Committee brought tears of joy to many an eye and the group returned to Lucknow late afternoon, suitably invigorated. After a refreshing coffee break, the break-out groups for the group discussion on “Case Studies on Practical Implementation of Auditing Standards” retired to their designated areas to discuss the interesting case studies.

Day 4 was kick-started by Convenor, CA Ashwini Chitale inviting Past President CA Ashok Dhere to chair the session by CA Himanshu Kishnadwala as he replied to the case studies debated a day prior by the groups. This was followed by a presentation on the New Income Tax Bill by CA Uttamchand Jain. The session was chaired by Past President CA Pranay Marfatia.

The presence of BCAS through its annual RRC in the city of Lucknow had not gone unnoticed by the powers-that-be. A special session with none other than the Deputy Chief Minister of Uttar Pradesh, Shri Brajesh Pathak ji formed part of the concluding session. In his address, the Deputy CM acknowledged the vital role played by Chartered Accountants in the nation building process and spoke at length about the various domestic and international industries that are now housed in Uttar Pradesh. Shri Mukesh Singh, Executive Council Member & Chairman UP Coordination Committee Indo American Chamber of Commerce then addressed the audience on the topic “Challenges & Opportunities for Business in UP”. The address by the Deputy CM was extensively covered in the news by the 10+ media channels who were in attendance.

In the concluding session, both the President CA Anand Bathiya and Chairman of SMPR Committee, CA Chirag Doshi acknowledged all those who had worked towards delivering a successful RRC, especially the support extended by the local members, CA Anshul Agarwal and CA Pankaj Agarwal. And as the curtains came down on yet another successful RRC – one which had the participants wear their thinking caps and deliberate on where the profession is today and what the future holds, one was reminded of the ghazal penned by shaayar Nida Fazli:

सफ़र में धूप तो होगी, जो चल सको तो चलो

सभी हैं भीड़ में, तुम भी निकल सको तो चलो

किसी के वास्ते, राहें कहाँ बदलती हैं

तुम अपने आप को,

ख़ुद ही बदल सको तो चलो…..

यही है ज़िंदगी, कुछ ख़्वाब, चंद उम्मीदें

इन्हीं खिलौनों से तुम भी बहल सको, तो चलो l

 

 

 

 

 

 

 

 

52ND RESIDENTIAL REFRESHER COURSE (RRC) — THE KUMBH OF KNOWLEDGE

The calendar year 2019 started on a high note with the Residential Refresher Course of The Bombay Chartered Accountants’ Society being experienced in its 52nd ‘avatar’ at Agra from the 3rd to 6th January, 2019. The pioneering flagship event of BCAS is in the truest sense – an annual pilgrimage for CA practitioners. The two-pronged differentiators of a) being an acknowledged knowledge platform and b) being relevant with changing times, has been the hallmark of BCAS-RRC for the last six decades.

The edge of knowledge was at its fullest display at the 52nd edition. The depth of technical content, the multi-faceted integrated approach to burning issues, the experience of professional stalwarts and the actionable knowledge insights, ensured the participants remained in a ‘state of awe’ throughout.

The BCAS-RRC platform has also been a close witness to the changing landscape of the accountancy profession since the RRC was first introduced. The format has consistently evolved itself to stay relevant and continues to add maximum value to its participants in contemporary times. The mere survival of the idea for six decades, is in itself a testimony to the adaptiveness and spirit. The 52nd edition continued its evolutionary journey and many ‘firsts’ were experienced. A four-and-half hour panel discussion on integrated issues, full-day presentation papers on Practice Management, video insights by internationally renowned practice management gurus, networking session for youth members were some of the most-appreciated ‘firsts’.

The auspiciousness of lighting the lamp kick-started the proceedings with opening thoughts by President BCAS, CA. Sunil Gabhawalla and Chairman, Seminar and Membership Development Committee, CA. Narayan Pasari. The tone for the next four days was firmly seeded in this address by the President and the Chairman. A galaxy of Past Presidents of BCAS graced the opening session.

Swiftly after announcing the inauguration of the RRC, the participants experienced a superlative panel discussion on Contemporary and Burning issues with a 360-degree perspective on Direct Tax, Indirect Tax and Accounting. The panel discussion was curated in the form of case studies that were posed by Moderator and Past President CA. Chetan Shah along with President CA. Sunil Gabhawalla to the three elite panellists being CA. Pradip Kapasi (Past President BCAS) dealing with direct tax aspects, Adv. K. Vaitheeswaran dealing with indirect taxes and CA. Sudhir Soni dealing with accounting aspects. The holistic approach of the panel discussion covering three subjects left the participants satiated to a great extent but at the same time they had the urge to imbibe more. In the words of CA. Nina Kapasi, it was truly a ‘Triveni Sangam of Gyan’.

The second-day promised to be a blockbuster day with the entire day being dedicated to Practice Management. With razor sharp focused topics, the day lived up to its expectations and enabled participants with ‘How-to-do and What-we-do’. The day was modulated into various sessions each dealing with a specific aspect of (i) Client Servicing being facilitated by CA. Vaibhav Manek, Technology and Human Resources being briefed by Past President CA. Ameet Patel, Networking and Mergers by Past President CA. Shariq Contractor, Succession Planning by CA. Nilesh Vikamsey and Ethics by none other than CA. Jayant Gokhale. The five stalwarts akin to ‘pandavas’ ably bridged the multi-faceted domain of Practice Management and opened the minds of the participants to newer ideas and reinforced the values that practitioners needs to stand by. International experts Mr. Lee Frederiksen and Mr. August Aquila also shared their insights on topics through a video snippet. These 6 sessions were chaired by our regular participant CA. Nilima Joshi and Past Presidents CA. Mayur Nayak, CA. Narayan Pasari, CA. Rajesh Muni, CA. Pranay Marfatia and CA. Ashok Dhere. The participants unwinded the day with singing and live karaoke.

The third-day was vintage direct tax group discussion on case studies with paper writer CA. Milin Mehta stirring the thought-process of the participants with immersive case studies. The session was chaired by Past President CA. Anil Sathe. The presentation paper on recent developments in auditing and accounting was presented by CA. Khurshed Pastakia. This session was chaired by Vice President CA. Manish Sampat. These sessions were chaired by Vice President CA. Manish Sampat and Past President CA. Anil Sathe. The day also allowed participants to visit the famed Taj Mahal and bask in glory of India’s history. Participants networked at the Taj while being awestruck with the monument and framed themselves in a lot of group pictures. Memory will be etched for a long time.

The ultimate day came to be calling with a focused group discussion and paper solving in Indirect Taxes by paper-writer Adv. V. Raghuraman. The session was chaired by Past President CA. Deepak Shah. A presentation paper by CA. Anup Shah on succession and estate planning was cherry on the cake. This session was chaired by our regular participant CA. Phalguna Kumar.

The closing session ended by Vote of Thanks to the Speakers, Participants, Hotel Management, the BCAS Staff, and of course the members of the organising team of the Seminar & Membership Development Committee who worked on this event over last 8 months and made it perfect for the participants at Agra. Chairman CA. Narayan Pasari invited the new participants at the RRC to share their insights and their experience to the audience where they described about the knowledge they gathered over the four days and how warmly the BCAS RRC was.

Past President CA. Uday Sathaye, while speaking at the vote of thanks, praised the history of Agra and the remembrance of RRC with his superlative poem in Hindi. The Kumbh of Knowledge has turned a chapter and the
quest for excellence continues until we meet next at the 2020 RRC.

 

51st Residential Refresher Course (RRC) Report

The 51st Residential Refresher Course (RRC) of Bombay Chartered Accountants’ Society (BCAS) was held at Hotel
Dreamland, Mahabaleshwar from 11th January 2018 to 14th January 2018. In all, 100 participants from various parts of
India joined this flagship programme of BCAS.
On the first day, CA. Narayan
Pasari, President BCAS
welcomed the participants.
He highlighted the journey
of BCAS RRCs and recent
activities undertaken by BCAS.

He shared his experience about
his journey with BCAS from
joining the Seminar Committee
to the Presidentship. He also
shared the vision of BCAS
to promote young members
( ) to be able professionals
and hence promoted 3 of them
at this RRC.

CA. Uday Sathaye, Chairman
Seminar Committee welcomed
everybody and explained the
importance of RRC in adding
value to the professional life of BCAS members
participating in RRCs. He compared RRC to a Guru.
He acknowledged contribution of Paper Writers,
Group Leaders and Participants in making RRCs
a success and highlighted the relationship that
has been developed over many years particularly
with participants from cities other than Mumbai.
He introduced and shared his thoughts about CA.
Pranay Marfatia, Past President and Chief Guest
of this 51st RRC. He highlighted CA. Pranaybhai’s
contribution towards success of earlier RRCs.
Thereafter, an audio clip was played, as rich
compliments were made by many Past Presidents
of BCAS about CA. Pranaybhai’s Involvement,
Dedication and Contribution to BCAS activities.

CA. Pranay Marfatia, Past President of BCAS then
inaugurated the 51st RRC. He shared his experience
of past RRCs. He spoke on changing paradigm of the
CA Profession. He also shared his views about the
expectation by the regulators and the stake holders from
CA Profession and the future challenges. He concluded
his address with a clear message that there is a need to
be updated on every front in profession and one should
not compromise on any principles.

The First Technical Session was chaired by CA. Pradip
Kapasi, Past President of BCAS. Dr. Rakesh Gupta
dealt with the issues raised by participants during Group
Discussion on his paper titled Case Studies in Taxation.
In his inimitable style covering all the issues in the
fields of Business Income, Capital Gains, Assessment
Proceedings etc., he dealt with the questions raised in the
case studies along with issues communicated by group
leaders and provided answers to the queries raised. His
command over the subject was appreciated by everybody.
On the second Day, the 2nd Technical Session was chaired
by CA. Rajesh Shah, Past President of BCAS. CA. Dhinal
Shah, Central Council Member – ICAI presented paper
titled Insolvency & Bankruptcy Code, Challenges
and Professional Opportunities. He commenced his
presentation with the process of registering as Insolvency
Professional (IP) by Chartered Accountants. He
highlighted the important role that Chartered Accountants
can play in the revival of defaulting companies and the
expected challenges to be faced by IP. His presentation
was very helpful to the participants particularly from the
point of view of the subject being a new area of practice.
The Third Technical Session was chaired by CA. Anil
Sathe, Past President of BCAS where CA. Bhadresh
Doshi dealt with ICDS- Significant Issues.

In his unique style, CA. Bhadresh Doshi explained various
points in interpretation issues in ICDS in view of Recent
Delhi High Court Judgements annulling various ICDS.
These issues are very relevant in day to day practice
and the presentation was extremely useful to all the
participants. The contents of paper as well as the lucid
explanations by the paper writer, was a rich and rewarding
experience for the delegates.

In the evening, participants had free time for sightseeing
etc. After dinner, participants enjoyed music and
entertainment programme.

On the third day, the Fourth Technical Session was
chaired by CA. Rajesh Muni, Past President of BCAS.
CA. Anand Bathiya presented paper on Corporate
Governance. He elaborated on the key amendments in
Governance of Listed Companies introduced by SEBI
and the important provisions of The Companies (Am
endment) Act 2017. He also highlighted the significant
amendments affecting the obligations and responsibilities
of the Auditors.

The Fifth Technical Session was chaired by CA. Govind
Goyal, Past President of BCAS where CA. Mandar
Telang presented paper titled GST – Legal Issues. He
enlightened the participants on recurring issues in GST.
He highlighted the practical problems affecting various
sectors of economy through his relevant and analytical
case studies.

He shared his experience of the importance of GST
implication in structuring the business process of various
industries.

An evening session was chaired by CA. Prafullachandra
Oak where CA. Chandrashekhar Vaze presented
his thoughts on “Code of Ethics need for Eternal
Vigilance”. He quoted lots of examples and his
experience from disciplinary cases. He very effectively
highlighted the need of following code of ethics and doing principle centered practice. The points raised by CA.
Vaze were very well received by the participants and he
also answered the questions raised by the participants on
the subject.

On the last day of RRC, a Panel Discussion was anchored
by CA. Sunil Gabhawalla and CA. Sangeeta Pandit
on “CA practice- Challenges & Opportunity- Across
Multiple profession Domains”.

CA. Bhavana Doshi, CA. Anil Sathe, CA. Nandita
Parekh and CA. Anup Shah were the esteemed
Panellists. During the three hours of the discussion, the panellists were very candid and open in their thoughts.
The Panel Discussion covered topics such as how to
obtain Domain Knowledge, develop Entrepreneurship
Skills, Mentor and retain Talent, work in Groups, adapt
to Technology, emerging Areas of Practice and host of
other issues. There was also a discussion on Succession
Planning and Sustainability of CA Firms. The Panel
Discussion was concluded on a very positive note with a
request from the participants that similar session should
be held in all future RRCs.

CA. Uday Sathaye, Chairman Seminar Committee and
CA. Narayan Pasari, President BCAS concluded the
51st RRC by acknowledging all the participants with a Big
Thank You!

Everybody parted with a commitment to meet again
next year.

DAY 4

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After breakfast participants discussed the paper written by Himanshu Kishanadwala on Case studies in Accounting and Auditing. The Group Discussion was followed by a precise presentation on the subject. He dealt with some burning issues affecting the CA’s in practice as well as industry. He analyzed all issues in great detail. His command over the topic and flawless analysis resulted in participants giving him a very patient hearing.

This session was chaired by K. C. Narang, Past President of the Society.

In concluding session Uday Sathaye, Chairman Seminar Committee took an overview of the RRC and recognized the contribution made by everybody, Pradip Thanawala, President of Society thanked everybody for making the RRC memorable. Participants departed after lunch to their respective destinations with a promise to meet again next year at the 46th RRC.


K.C. Narang, Chairman Addressing Participants. Also seen from L to R – Yatin Desai, Himanshu Kishnadwala, Paper Writer and Nitin Shingala

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DAY 3

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After the breakfast the participants discussed the paper written by S. Thirumalai on “Important Aspects of CENVAT credit & POT Rules.”

Thereafter Yogesh Thar Chartered Accountant presented paper on “TDS- Some important issues”. His liking and mastery over the subject made his presentation very informative and useful.


Yogesh Thar, Paper Writer Addressing Participants. Also seen from L to R – Bharat Oza, Rajesh Shah, Chairman and Krishna Kumar Jhunjhunwala.

This session was chaired by Rajesh Shah, Past President of the Society

Shri S. Thirumalai dealt with his paper and made his presentation very interesting and satisfied the participants by resolving issues raised during Group Discussion. Service Tax today is gaining importance with more services being added under the Service Tax net. Issues raised by him were of real significance to all. His depth of knowledge in Service Tax and masterly analysis was indeed a treat for the participants

This session was chaired by in his unique style by Govind Goyal, Past President of the Society.


S. Thirumalai, Paper Writer Addressing Participants. Also seen from L to R – Narayan Pasari, Govind Goyal, Chairman and Naresh Sheth.

The day ended with Gala Dinner and Musical Evening.

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DAY 2

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The
participants discussed the paper written by Dr. Pravin P. Shah on
Business Structuring/ Restructuring some important issues. The Group
Discussion was followed by a marvelous presentation paper by
Chandrashekhar N. Vaze who presented his views on Code of Ethics –
Practical Issues. His command over subject and presentation skills made
the session very lively. This session was chaired by Padamshri Shri T. N
Manoharan, Past President of the ICAI. The salient features of the
paper were explained by rapporteur Shri Jayant Gokhale member of the
central council of ICAI.


Padmashree T.N. Manoharan Addressing Participants. All seen from L to R – Manmohan Sharma, Chandrashekhar Vaze, Paper Writer, Jayant Gokhale, Rapertoire and Rajeev Shah.

Thereafter Dr. Pravin P. Shah dealt
with his paper and analyzed the implications and rationale of various
Tribunal, High Court, and Supreme Court Judgments. He explained that
every decision of the judgment forum is with respect to a set of facts
and it is important for reader to appreciate these facts before using
the judgment for any purpose. He answered brilliantly all the queries
raised by the participants.

Dr Pravin Shah, Paper Writer Addressing Participants. Also seen from L to R – Ashok Dhere, Chairman, Saurabh Shah and Mukesh Trivedi.

This session was chaired by Ashok Dhere,
Past President of the Society. In the afternoon participants visited
Ramoji Film City. Participants were made aware about the technicalities
in making the Film. Participants took keen interest and enjoyed the
unique experience. In the evening an additional session was held for the
benefit of all the participants on the burning topic “Revised
schedule-VI” Himanshu Kishanadwala did a masterly analysis of the
important changes which are relevant to a Chartered Accountant , whether
he is performing the accounting or audit function. The session was
effectively chaired by Uday Sathaye, Past President of the Society.

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DAY 1

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The RRC began with the Group Discussion on paper written by T. S. Ajai on Case Studies in Taxation.

In
the inaugural function which was held in the evening, Pradip Thanawala
President of the Society welcomed the members. For the benefit of the
outstation members attending RRC he gave an overview of Society’s
activities which are conducted through out the year.

Uday
Sathaye Chairman of Seminar Committee highlighted activities of the
Seminar Committee which are gaining popularity , like study tours in the
form of interactive meetings with Industries all over the Country. He
mentioned about the rationale behind the subjects chosen for the RRC and
thanked all paper writers for giving justice to the subjects and
delivering the papers well within committed time frame.

RRC was
inaugurated by Chief guest Shri N. Chandra Babu Naidu, Leader of
opposition, Andhra Pradesh, Guest of Honour G. Ramaswamy, President ICAI
and Jaydeep Shah, Vice-President ICAI, by lighting of lamp. Shri. N.
Chandrababu Naidu is a very acclaimed, learned and senior professional
politician. He expressed his views in regard to various issues which
have arisen on account of the current trend of giving importance to
technological changes, Governance

Uday Sathaye, Chairman, Seminar Committee delivering Welcome Address. Also seen from L to R – Krishna Kumar Jhunjhunwala, Pradip Thanawala, N. Chandrababu Naidu, G. Ramaswamy, Jaydeep Shah, Deepak Shah and Rajeev Shah.

and values in life. He felt that even
though change is an accepted part of life, departure from certain age
old principles is unwarranted. In his opinion, while one should welcome
the good things from the new generation,


T.S. Ajai, Paper Writer Addressing Participants. All seen from L to R – Mandar Telang, Anil Sathe, Chairman and Manish Sampat.

one should also respect Indian
Ethos. His views on Indian Economy impressed everyone present . Shri G.
Ramaswamy, President ICAI updated members about the development and
initiatives taken by the ICAI for the benefit of members. Shri Jaydeep
Shah, Vice President ICAI addressed the participants about the various
programs run by ICAI.

Krishna Kumar Jhunjhunwala Convenor of the Seminar Committee proposed a hearty Vote of Thanks.

After
the inaugural session T. S. Ajai covered in his presentation all the
case studies.. His clinical analysis on the controversies and his
forthright views were unique and of immense benefit to the participants.

This session was ably chaired by Anil Sathe, Past President of the Society.

The day ended with tasty dinner being served

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46TH RESIDENTIAL REFRESHER COURSE OF BOMBAY CHARTERED ACOUNTANTS’ SOCIETY

DAY 1:

The RRC began with the Group Discussion on the paper written by Mr. Rajan Vora on Domestic Transfer Pricing and some issues of International Transfer Pricing.

In the Inaugural function which was held in the evening, Mr. Deepak Shah, President of the Society, welcomed the members and gave an overview of the activities which are conducted by the Society.


Mr. Rajesh Shah, Chairman of the Seminar Committee, mentioned the rationale behind the subjects chosen for the RRC and thanked all the paper writers for giving justice to the subjects and sparing their time and sharing their knowledge with the participants.The RRC was inaugurated by the Chief Guest Honourable Mr. N. Santosh Hegde, former Justice of the Supreme Court of India, former Solicitor

General of India and former Lokayukta, Karnataka by lighting the traditional lamp. Mr. N. Santosh Hegde expressed his views with regard to various issues including the changes in moral values, political scenario, governance and values in life.

Mr. Salil Lodha, Convenor of the Seminar Committee, proposed a hearty Vote of Thanks.

After the inaugural session, Mr. Rajan Vora made his presentation covering all the issues related to his topic. His clinical analysis on the controversies and his forthright views were of immense benefit to the participants. The session was ably chaired by Mr. Anil Sathe, Past President of the Society.

The day ended with a sumptuous dinner in the traditional “Village” ambience on the lawns of the Hotel.

DAY 2:

After the breakfast, the participants discussed the paper written by Mr. Sunil Lala on Case Studies in Taxation. The Group Discussion was followed by an excellent presentation paper by Mr. Prashanth K. L. who expressed his views on Effective Harnessing of Information Technology. His command over the subject and presentation skills made the session very lively. This session was chaired by Mr. Rajesh Kothari, Past President of the Society. Thereafter, Mr. Sunil Lala dealt with his paper and analysed the implications and rationale of various Tribunal, High Court, and Supreme Court Judgments. He explained that every decision of the judgment forum is with respect to a set of facts and it is important for the reader to appreciate these facts before using the judgment for any purpose. He covered brilliantly all the queries raised by the participants in his address.

This session was chaired by Mr. Gautam Nayak, Past President of the Society. In the afternoon, the participants played some management games. The participants took keen interest and enjoyed the unique experience.

In the evening, an additional session was held for the benefit of all the participants on the very important and relevant topic “Networking Session” by Mr. August J. Aquila (From USA) and Mr. Vaibhav Manek. Both the speakers did a masterly analysis of the important changes which are relevant to a Chartered Accountant. This session was chaired by Mr. Ameet Patel, Past President of the Society. The day ended with a dinner at the pool side in a very cool and pleasant atmosphere.


DAY 3:

After breakfast, the participants discussed the paper written by Mr. Sudhir Soni on “Case Studies in Accounting and Auditing”. The session on

“The Future of Indian Chartered Accountancy Firms” was chaired by Mr. Pranay Marfatia, Past President of the Society. Thereafter, Mr. August J. Aquila and Mr. Vaibhav Manek presented paper on “The Future of Indian Chartered Accountancy Firms”. Their mastery over the subject made the presentation very informative and useful. Before their presentation, the latest publication of the BCAS – “CA Firm of the Future”, authored by Mr. August J. Aquila and Mr. Vaibhav Manek, was released.


In the next session, Mr. Sudhir Soni dealt with his paper and made his presentation very interesting and satisfied the participants by resolving issues raised during Group Discussions. Issues dealt by him were of great significance to all. This session was chaired by Mr. Himanshu Kishnadwala, Past President of the Society.In the afternoon, participants played a Cricket Match and enjoyed the game. Later in the evening, a Quiz Contest was organised for the participants. Mr. Ashish Fafadia, a fellow participant had organised the contest which was very well received by all the participants. The day ended with Dinner at the restaurant.

 

 


DAY 4:

 

In the morning, the Brain Trust Session was conducted with Mr. Rajesh Kapadia and Mr. H. Padamchand Khincha as the Trustees for Income Tax and Advocate Mr. V. Raghuraman as the Trustee for Service Tax. They analysed all the issues in great detail. Their command over the subject coupled with their crisp and flawless analysis was of great help to all the participants. This session was ably chaired by Mr. Pradip Kapasi, Past President of the Society.


In the last technical session, Mr. Madhukar Hiregange presented the paper on Negative List and Reverse Charge Mechanism under Service Tax and explained in details the latest developments in Service Tax bringing out the complexities in the law.This session was chaired by Mr. Govind Goyal, Past President of the Society. In the concluding session, Mr. Rajesh Shah, Chairman of the Seminar Committee, took an overview of the 46th RRC and recognised the contribution made by everyone, expressing his gratitude for the efforts put in by them. He specially thanked the President for his wholehearted support and lead in organising the Residential Refresher Course. Mr. Deepak Shah, President of the Society, thanked everybody for making the RRC memorable.

47th Residential Refresher Course (RRC) of Bombay Chartered Accountants Society (BCAS)

47th RRC of BCAS was held at Hotel Dreamland, Mahabaleshwar from 9th January to 12th January, 2014. The total number of participants enrolled for the RRC was 203.

Most of the RRC Participants reached Mahabaleshwar by lunch time on 9th January 2014. Around 50 of them used the travel arrangements made by BCAS from Mumbai to Mahabaleshwar. This time the Seminar Committee made special arrangements to welcome all the participants with a personalised pen and a gift hamper which was well appreciated.

DAY 1:  

The RRC began with the Group Discussion on the paper written by CA Vishal Gada on Case Studies in Taxation.

In the Inaugural function which was held in the evening, CA Naushad Panjwani, President of the Society welcomed the members and gave an overview of the activities which are conducted by the Society.

CA Rajesh Shah, Chairman of Seminar Committee gave a bird’s eye view of the selection of the subjects for the RRC, the entire process of arrangements for organising the RRC and thanked all the managing committee and seminar committee members for their support and the paper writers and brain trustees for sparing their time and sharing their knowledge with the participants.
The RRC was inaugurated by the Chief Guest CA V. C. Darak, by lighting the traditional lamp. Vice President CA Nitin Singhala introduced the Chief Guest of the RRC. CA V C Darak, in his address, spoke about the values and principles in our professional life.

CA Narayan Pasari, Convenor of the Seminar Committee proposed a hearty Vote of Thanks to the Chief Guest.

After the inaugural session, CA Amarjit Chopra, Past President of ICAI gave his presentation on “Companies Act, 2013 – Challenges in Accounting and Auditing” in his own humorous style covering all the issues related to the topic including some very serious and harsh provisions of the Act. He was concerned about the impact of some stray incidences like “Satyam” on the important enactments like the Companies Act, 2013. His underlying message to be vigilant while performing any professional duty was well received by all the participants.

This session was ably chaired by CA Uday Sathaye, Past President of the Society. The Vote of Thanks was proposed by CA K. K. Jhunjhunwala, a managing committee member .

The day ended with a sumptuous dinner in the huge dining hall of the Hotel.

DAY 2:

After breakfast, the participants discussed the paper written by Adv. K. Vaitheeswaran on Issues in Service Tax.

The Group Discussion on Service Tax paper was followed by an excellent presentation by CA Vishal Gada who dealt with his paper on Case Studies in Taxation, with great depth explaining relevant provisions of the Act also taking support from various cross references and the case laws on the issues. He also suggested to the participants not to rely too much on the decisions of lower courts unless they are strong on the technical aspects of an issue. He covered all the issues raised by the group leaders in his presentation cohesively and made the session very lively.

This session was ably chaired by CA Dr. Rakesh Gupta, an Ex-ITAT member, a participant from Delhi, who also raised few fundamental questions to the paper writer CA Vishal Gada, which were addressed by him during his presentation. CA Mulesh Savla, member Seminar Committee proposed the Vote of Thanks to the Paper Writer as well as the Chairman of the Session.

Thereafter, CA Ameet Patel, Past President of the BCAS made a thought-provoking presentation on “i for Technology”, a subject which is very close to his heart. He informed all the participants on various tools and apps which can be effectively used by a professional to improve efficiency and effectiveness of his work. He also suggested the use of services offered by various servers on the cloud. His masterly analysis of the subject made participants aware of the latest technological tools available to the professionals.
This session was chaired by CA Rajesh Muni, Past President of the Society. CA Bharat Oza, a Managing Committee member proposed the Vote of Thanks to the Paper Writer and the Chairman.

In the afternoon, all the participants got together for a group photograph.

The evening was free to the participants for some outings, refreshment and study for the subsequent papers. Some of the participants enjoyed playing cricket in the Hotel campus.

The day ended with a hot soup in the chilling atmosphere and a sumptuous dinner.

Unfortunately, a sad incident happened at night on the second day. One of our very senior members and a regular participant of the BCAS RRCs, CA Vinod S. Kothari expired due to severe heart attack. The committee members, along with a few other participants tried their level best to give him immediate medical assistance. However, he could not recover from the fatal heart attack.

DAY 3:

After breakfast, the participants discussed the paper written by CA Karishma R. Phaterphaker on “Domestic Transfer Pricing – Law, Issues & Documentation”.

Before the Brain Trust Session, all the participants prayed for the eternal peace for the departed soul of CA V. S. Kothari by observing silence for two minutes. The Brain Trust Session was conducted with CA Pinakin D. Desai and CA Dilip V. Lakhani as the Trustees for Income Tax and CA Sunil Gabhawalla as the Trustee for Service Tax. The participants had the benefit of the expert views of CA Pinakin D. Desai on several contentious issues of Direct Tax after a long time and CA Dilip Lakhani also analysed all the issues allotted to him in great detail. CA Sunil Gabhawalla excelled in his analysis of the issues raised in Service Tax area. Their command over the subject coupled with their crisp and flawless analysis was of great benefit to all the participants.

This session was ably chaired by CA Anil J. Sathe, Past President of the Society and CA Raman Jokhakar, Jt. Secretary proposed a very well deserved Vote of Thanks to all the Brain Trustees.

The Entertainment Programme to be held in the evening was cancelled and the Presentation of the discussion paper by Adv. K. Vaitheeswaran was taken up in the evening session. Adv. K. Vaitheeswaran dealt with all the case studies of his paper in a very lucid and humorous way. He gave different dimensions to the controversial issues. With the increasing importance of the Service Tax practice, his guidance on the issues will go a long way and help participants in their day to day practice.

This session was chaired by CA Pranay Marfatia, Past President of the Society. CA Saurabh Shah, Seminar Committee Member, proposed the Vote of Thanks.

The day ended with tempting dinner followed by a variety of desserts.

DAY 4:

After breakfast, CA Karishma Phatarphekar and her colleague CA Jigna Talati dealt with their paper on Domestic Transfer Pricing – Law, Issues & Documentation. Both of them made their presentation very interesting and satisfied the participants by resolving issues raised during the Group Discussions. There were challenges on the issues as the Domestic Transfer Pricing Law is still evolving and a lot more is required to be clarified from practical view point. Issues raised in their paper were of great significance to all.

The session was chaired by CA Nitin Shingala, vice president of the Society and the Vote of thanks was proposed by CA Ravi Shah.

In the concluding session, CA Nayan C. Parikh, Past President of the BCAS and a senior member of the Seminar Committee took an overview of the 47th RRC and recognised the contribution made by everybody expressing his gratitude for the efforts put in by them. He specially thanked the President for his whole hearted support and lead in organising the Residential Refresher Course. One of the participants CA Keyur R. Thakkar presented a very nice poem composed by him covering each and every event of the RRC. CA Naushad Panjwani, President of the Society, thanked everybody for making the RRC memorable. Participants departed after lunch to their respective destinations by cherishing the memories of 47th RRC and with a promise to meet again next year at the 48th RRC.