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INDORE CHAPTER

KNOWLEDGE HORIZON

2016-I

………………………………………………………… B-1/2/3, ASHRAY APARTMENT, 2/1 , MANORAMAGANJ

PALASIA, INDORE-452001

………………………………………………………………………

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From the Desk of Chairman: Pg no. 03-04

Laws Applicable on Medical Industry - CS Surbhi Jain Pg no. 05-06

List of various Forms available for FEMA Purpose – CS Ishan Jain Pg no. 07-10

ONE PARAGRAPH OF LIFE! – CS Pravin Gupta Pg no. 11-14

Glimpses of Indore Chapter of ICSI Pg no. 15-23

ICSI Indore in News 2016 Pg no. 24-25

Editorial Team

CS Pravin Gupta, Executive Officer, Indore Chapter

CS Ishan Jain , Practicing Company Secretary , Indore

***Views and other contents expressed or provided herein need to be construed as views of the individual. While every effort has been made and care has been taken in the preparation of this Newsletter and to ensure its accuracy at the time of publication, Indore Chapter of WIRC of ICSI assumes no responsibility for any errors which, despite all pre-cautions, may creep in. The readers are advised to take all the precautions while initiating any activity on the basis of thoughts expressed herein. Indore Chapter does not owe any responsibility.

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Dear Readers,

“Knowledge is power

Knowledge increases by sharing but not by saving.”

In the wake of 21st century, India is progressing on fast track from hi speed bullet train to a bold

relationship with powerful economies of the World, we are reducing our dependency on others. Holistic

transformation at a global level in thought process, creativity and innovations at their own highs, we are

witnessing an era where knowledge counts and results matters the most.

Ever since I stepped up as Chairman of the prestigious Indore Chapter of WIRC of ICSI, expectations

from our members rose very high, creating an environment for me to think out of the box, dreaming of

new aspirations, preparing for new challenges and delivering results at their best.

If we look at the way the environment around us brought galore of opportunities, we have to admit the

fact that we all should prepare ourselves, to win the battle of times to come, with a strong foothold being

needed in today’s world of competition, which has become fierce. The Competitive environment expect

more from us in terms of discipline, dedication, hard work and the most vital amongst these being

capability to remain updated through enhancement of knowledge. It is this knowledge which helps us

to grow and look beyond what we reasonably dream of achieving in our lives. A man with great

treasure of knowledge once became scientists, mathematicians, inventors of big machines, making our

lives smooth.

Hence, professionals such as company secretaries who are no less than governance professionals with

their knowledge enhancement could produce great results, given the expectations of various

stakeholders sustaining in the society.

Considering the high prominence knowledge has in our lives, I feel proud and honoured to share with

you our first initiative of sharing knowledge through our own journal titled “Knowledge Horizon”.

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According to my belief, Knowledge multiplies by sharing and gets destroyed by saving. It has a

beginning but no end. Knowledge is the life of the mind.

This is a platform where we believe wide and varied knowledge from different ends will be shared on a

single platform, which will ultimately be shared and spread ahead by our readers. It will also help our

young and talented professionals in upgrading their knowledge. After all, an investment in Knowledge

reaps the best interest. We make a humble request to all our readers to further help us and contribute

their ideas and efforts for making this initiative, a successful one.

Our Chapter apart from sharing Knowledge also believes in the overall grooming of a professional and

for which we have been working on a continual basis. To brief you about what vision we had compared

with what we actually did, our chapter through series of programmes and seminars imparted an

enriched knowledge on various updates, training programmes were conducted, effective student

counseling sessions being done besides scheduling campus placements and taking steps for Brand

Building activities etc., thereby fulfilling the need of the hour.

I feel delighted to say that we also have entered into an MOU with IIM Indore, India’s top B-School,

acknowledging young talented toppers.

I am confident that our efforts will help our members to grow and prosper in every possible way and we

in times to come, would be able to achieve new milestones and more growth for our profession, bringing

it at par with other globally renowned professions

Kindly visit http://www.icsi.edu/indore/ActivityReportBulletins.aspx & provide your valuable

feedbacks/suggestion. Your feedback is important for us! Please write to @ indore@icsi.edu for more

improvement in the same in upcoming editions of Knowledge Horizon.

Sincerely yours,

CS Manoj Bhandari,

Chairman-

Indore Chapter of ICSI

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HEALTH CARE INDUSTRY – STATUTORY COMPLIANCES

CS Surbhi Jain

Apollo Rajshree Hospitals Pvt Ltd

………………………………………………………………………………………………………………………………………………..

With increase in the environmental changes and disease occurring due to that, the "Health care segment" became an important area now a day. It has become one of India’s largest

sectors both in terms of revenue and employment. It also contribute to a significant part of country’s economy In India, health care is divided into two basically – “Public & private”. The private health care sector is responsible for the majority of health in India. One can see that there are many hospitals which have been opened up but did they really achieve the standard benchmark for patient care in every case? Did the patient really feel satisfied with the services offered in return of the money which has been charged from them? Although visiting hospital in need is always a pain, but that pain can be changed into relief if the patient is cured and treated well. Coming back to the subject matter a Hospital requires complying with many byelaws and has to get licenses under various Act. Apart from company law compliance which is generally applied on Corporate Hospitals there are numerous acts which have to be focused upon. At foremost standard hospital can be recognized from its NABH(National Accreditation Board for Hospitals & Health Care Providers)certification, it’s a standard accredited by International Society for Quality in Health Care. The hospitals accredited by NABH are considered as internationally recognised. As a Corporate Hospitals following are the applicable laws, which need to be complied: Atomic Energy Act,1962 Birth And Death And Marriage Regulations Act,1886 Blood Bank Regulations Under Drugs And Cosmetice Act,1940 Clinical Thermometers Order, 2001 Dentist Act

Drugs And Cosmetice Act,1940 Epidemic Disease Act,1897 Ethical Guidelines For Biomedical Research On Human Subjects Excise Act,1956 Infant Milk Sustitutes, Feeding Bottles And Infant Foods Act,1992 Legal Metrology Act,2009 Medical Termination Of Pregnancy Act ,1971 Naco Guidelines Mental Health Act ,1987

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Narcotic Drugs And Psychotic Substances Act ,1985 Pharmacy Act ,1948 Poisons Act ,1919 Pre Conception And Prenatal Diagnostic Techniques Act, 11994 Prohibition Of Smoking Act, 2008 Static And Mobile Pressure Vessels Rules,1981 The Bio Medical Waste (Management And Handling)Rules,1998 Transplantation Of Human Organs Act And Rules,1994 Clinical Establishment And Registration Act, 2010 For Corporate hospitals apart from above mentioned act these are the important ones:

The Companies Act, 2013 (“the Act”) and the rules made thereunder The Securities Contracts(Regulation) Act, 1956(SCRA) and rules made thereunder; The Depositories Act, 1996 and the Regulations and Byelaws framed thereunder; Foreign Exchange Management Act, 1999 and the rules and regulations made thereunder to the extent of External Commercial Borrowings; The various regulations under SEBI Act 1992 The Listing Agreement entered into by the Company with the Stock Exchanges, where the securities of the Company are listed; Secretarial Standards issued by ICSI So, whenever you’re required to conduct the Secretarial Audit and make report for the Hospital Industry then you should check that there are numerous laws (few important of them mentioned above) and acts which has been followed there or not. And if you did not come across any such requirement but required to go hospital in need/pain then NABH certified hospital will make your treatment safer.

Stay healthy.. Stay Fit

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List of various Forms available for FEMA Purpose

CS ISHAN JAIN Practicing Company Secretary

We can see that in India, in order to comply with the requirement of the various Acts we need to file

various documents, forms, return from time to time in order to provide information to the Government

Department. In same manner we have to file certain documents, returns, forms to the Reserve Bank of

India in order to make compliances.

As a general practice in India, Indian Corporate dealing in Capital Account Transactions in Foreign

Currency have to file certain forms/returns on a periodicity which are as follows:-

At the time of particular transaction is being done;

Quarterly compliances;

Monthly compliances or

Yearly Compliance.

It totally depends upon the nature of transaction is being done by the Indian Companies like if the

Indian Company has taken ECB then they have to file monthly return to RBI and an Annual Return in

Statement of Foreign Assets and Liabilities on yearly basis.

To give a broader view on this topic, this newsletter is being written in order to get the clear and

transparent knowledge on the subject matter:

1. Introduction:

Here, I have classifed details of complainces related to filing of forms in 3 broad categries which are as

follows:-

Companies having FDI;

Companies having ECB’s;

Other persons.

Now, Let us discuss them one by one.

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2. Companies having Foreign Direct Investment (FDI):

If the company is having or likely to invite Foreign Invesment as a part of Share Capital then, those

companies have to comply with certain requirements of filing of certain Forms to Reserve Bank of India

which are as follows:

Form Pupose Due date of filling

Advance

Reporting

Form

At the time of receipt of funds in the

bank account of the company as a part

of share application money.

Within 30 days from the date of

receipt of the funds.

Form FC-GPR When the allotment is being done by

the Indian Company to the Foreign

Investor.

Within 30 days of the allotment is

being done by the company.

Statement of

Foreign Assets

and Liabilities

When the company is having any

sought of liability irrespective of the

Capital or borrowing nature.

Till 31st July every year.

FC-TRS When the shares of the Indian

company is being transferred to Non-

Resident from a Resident or vice versa.

Within a 60 days of the date of

consideration passed on account

of the transfer

Form DR When the Indian Company has issued

ADR/GDR

Within 30 days from the closing

of the issue.

Form DR

(Quarterly)

When the company is having

ADR/GDR then they have to file this

form

Within 15 days from the end of

the quarter

Form TS When the shares of the Indian

company is being transferred to Non-

Resident from a Resident under

Approval Route.

Before filling of FC-TRS.

3. Companies having ECB in it:

If the company has taken External Commercial Borrowing (ECB’s) from Foreign Collaborators,

Investors or Banks then at that time also the company is required to have fle certain forms to RBI at the

time of availment of ECB and in normal due course which are follows:

Form Pupose Due date of filling

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Form ECB At the timing of bring the funds as a loan

by an Indian Party under approval route

Before remitting the fund.

Form 83 At the time of signing and entering into

the loan agreement

Within 7 days from the signing

of the Loan Agreement.

Form ECB 2 Monthly reporting of the utilisation of

ECB funds and repayment thereof

Within 7 days from the month

end.

Statement of

Foreign Assets

and Liabilities

When the company is having any sought

of liability irrespective of the Capital or

borrowing nature.

Till 31st July every year.

4. Company having JV’s or WOS in abroad:

In this stage those company having Joint Ventures or having Wholly Owned Subsidiary in Aborad have

to comply with certain requirements of filing as follows:

Form Pupose Due date of filling

Form ODI At the timing of remitting funds

to abroad for estabilishing JV’s

or WOS.

At the time of remitting the

fund.

Annual Performace

Report

Operational Report of the

foreign entity in which the

funds is being invested by the

Indian Company

Till 30th June every year.

5. Other various Forms:

These are the vaious forms which is to be filled by the individuals or other body corporate on a case to

case basis which are as follows:-

Form Pupose Due date of filling

Form LRS At the time of purchasing the

Foreign Currency for

Individuals

At the time of purchasing of the

Foreign Currency.

Form A2 At the time of purchasing of the

foreign currency by any indian

person

At the time of purchasing of the

Foreign Currency.

Form FNC At the time of establishing At the time of establishing

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LO/BO/PO in India. LO/BO/PO in India.

Letter of Comfort At the time of establishing

LO/BO/PO in India.

At the time of establishing

LO/BO/PO in India.

Report to DG of

Police

At the time of establishing

LO/BO in India.

Within 5 working days when

the LO/BO become operational

Annual Activity

Certificate

For submitting the Annual

Balance Sheet and Profit and

Loss of the LO/BO/PO

Till 30th September every year

Form IPI At the time of purchaing of

Immovable Property in India by

NRI/PIO

Within 90 days from the date of

purchase of property

It must be noted that there are many more Forms which are required to be filed to RBI. But in General Due

course only these forms are required to be filed.

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ONE PARAGRAPH OF LIFE!

CS Pravin Gupta Executive officer -Indore Chapter

Arthur Ashe, the legendary Wimbledon player was dying of AIDS which he got due to infected blood he received during a heart surgery in 1983.

From world over, he received letters from his fans, one of which conveyed: "Why does GOD have to select you for such a bad disease"?

To this Arthur Ashe replied:

"The world over -- 50 million children start playing tennis, 5 million learn to play tennis, 500,000 learn professional tennis, 50,000 come to the circuit, 5000 reach the grand slam, 50 reach Wimbledon, 4 to semi final, 2 to the finals, when I was holding a cup I never asked GOD 'Why me?'.

And today in pain I should not be asking GOD 'Why me?' "

"Happiness keeps you Sweet, Trials keep you Strong, Sorrow keeps you Human, Failure keeps you humble and Success keeps you glowing, but only Faith & Attitude keeps you going...

“Always live with people that charge your battery which help you to handle any type of situation (Bad/Good).

“Whatever you are be a Good one”

A request:-

“CS Benevolent Fund is a collective effort towards extending the much needed financial support to the community of Company Secretaries in

times of distress Let us lend support and join for noble cause.

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ACTIVITIES @ INDORE CHAPTER

SN Date Topics Venue Chief Guest/Speaker

01 01 /01- 2016 CS Day Indore Chapter Mr. Mridul Dadhich on "Master Your Mind"

02 19-23/01-2016 05 Days Skill Development Programme

Indore Chapter Various

03 20 /01- 2016 Inhouse Discussion on “ SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015

Indore Chapter CS K.S. Ravichandran

04 26 /01- 2016 Republic Day Celebration Indore Chapter Various 05 26 /01- 2016 Blood Donation Camp M.Y. Hospital

N/A

06 30/01- 2016 “Meditation programme” For Female Company Secretaries

Indore Chapter CS Pinky Shrivastava

07 06/02- 2016 In Discussion on “ View Invited on CLC Report”

Indore Chapter Various

08 09-13 /02- 2016

05 Days Skill Development Programme

Indore Chapter Various

09 28 /03- 2016 Full Day Seminar on “ A Day with Legend” (Critical Aspects of Companies Act, 2013 & SEBI (LODR) Regulations, 2015

Indore Chapter CS K.Sethuraman CA Vijay Jhalani

10 03 /03- 2016 Budget Talk ICAI Bhawan , Indore

CA Pradip Kapasi, CA Arvind Chawla, CA B.P. Inani

11 08 /03- 2016 Women’s Day (Colors of Life) Hotel South Avenue

IAS P. Narhari, Dr. Jyoti Sharma Mrs. Jyoti Sharma, Dr. Namrata Kachhara

12 12/ 3- 2016 ICSI – BSE Joint Seminar on SEBI (LODR) Regulations, 2015

Hotel lemon Tree

CS Shyam Agrawal CS Narayan Shankar, CS K. Venkataraman, Ms. Netra Sahani Ms. Nisha Mehta

13. 15-16/03/2016 02 Days 5th “ Induction Programme”

Indore Chapter Various

14. 17-19/03- 2016

03 Days 4th “ E- Governance Programme”

Indore Chapter Various

15 30-31/03-2016 02 Days 6th “ Induction Programme”

Indore Chapter Various

16 01-03/04-2016 03 Days 5th “ E- Governance Programme”

Indore Chapter Various

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17 02/04-2016 “Management Tips through the Movie ‘The Pursuit of Happiness”

Indore Chapter CA Prateek Uppal & CA Naveen Khandelwal, Motivational Speakers & Trainers

18 05-21/04-2016 5th Management Skills Orientation Program

Indore Chapter Various

19 16/04-2016 Half Day Seminar on Corporate Governance -A Way ahead

Hotel lemon Tree, Indore

Shri P Narhari , IAS, District Collector Indore Shri Rajendra Joshi ji, Chairman, CII Malwa region CA Manoj Fadnis-, Immediate Past President of ICAI Mrs. Vinita Raj, Freelance Trainer

20 21-22/05-2016 Bhaskar Education Fair

Indore N/A

21 07-21/06-2016 06th Management Skills Orientation Program

Indore Chapter Various

22 15/06-2016 PCS Day Celebration Indore Chapter Various

23 19/06-2016 Free Health Check up

Indore Chapter Dr. Sanjay Pancholi (Skin Specialist), Dr. Vijay Niranjan (MD -Nuerophysician), Dr. Ankita Pancholi (MD - Gynaecologist. Dr. S.S. Verma

24 19/06-2016 Yoga Day Indore Chapter Yoga trainer From Shri Shri Ravishaker ji

25 19/06-2016 Elocution Competition

Indore Chapter N/A

26 03/07-2016 Celebration Van Mahotsav Col. C K Naidu Garden, Manoramaganj, Indore

N/A

27 05/07-2016 Interactive Session with RoC-MP

Indore Chapter Shri J N Tikku- ROC-MP Shri HariharSahoo, Deputy RoC,

28 05/07-2016 Students Updates on Insolvency and Bankruptcy Code 2016

Indore Chapter CS Dipika Kataria CS Anurag Gangrade

29 05/07-2016 Co-Option Of Roc In Management Committee Of Indore Chapter

- -

30 11/07-2016 Moot Court @ Chapter Level

Indore Chapter CS Aadhar Sharma CS Soumya Sharma

31 15-22/07-2016 24th Executive Development Program

Indore Chapter Various

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32 25/07.2016 CS Pathshala- Drafting of Directors Report & AGM Notice

Indore Chapter CS Rajesh Lohia

33 26/07.2016 CS Pathshala- Annual return-MGT-7

Indore Chapter CS Ashish Garg Ji

34 27/07.2016 CS Pathshala-MCA E-Filling (MGT-14, DIR 11&12)

Indore Chapter CS L N Joshi Ji

35 28/07.2016 CS Pathshala-Drafting of Minutes of Board Meeting & AGM

Indore Chapter CS (Dr.) D K Jain

36 29/07.2016 CS Pathshala-Incorporation of Company

Indore Chapter CS AmrishChaursiaJi

37 30/07.2016 CS Pathshala-Recent Amendment in Service Tax

Indore Chapter CA NavinKhandelwalJi

38 31/07.2016 SwachchtaShapath & Go-Green Abhiyan

Geeta Bhawan Tempal

Chief Guest Shri Mahendra ji Hardia M.L.A. Ward No. 5-Indore

ICSI-WIRC ANNUAL REGIONAL CONFERENCE-2016 AT INDORE

Video you tube link of the "Annual Regional Conference of WIRC of the ICSI under the theme of "Company Secretary as an Entrepreneur"

Session Details Video Link

25.06.2016 Inaugural https://youtu.be/aUGX4KE8cVA

First Criminal Jurisprudence By Adv Madhukar Dalvi https://youtu.be/_adHH8mE8vk

Second ‘How To Grow Business” By CS Rupanjana De https://youtu.be/hJ1FILtXnkk

Third Recent Policy Changes affecting Business by CS Devendra Deshpande

https://youtu.be/RQwXcVnSWP4

26.06.2016

First Start-up India and CSR-CS in action by CS Manoj Bisht

https://youtu.be/day93PfuQc0

Second CS as an Entrepreneur by CS Mahaveer Lunavwat

https://youtu.be/56onzfGmdss

Third Practical aspects of Business Restructuring by CS Satwinder Singh

https://www.youtube.com/watch?v=hpbxP_-pRbs

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Glimpses of Indore Chapter of ICSI

Opening of Study Centre at Ujjain and MOU with IIM Indore for ICSI Signature Award

Meeting with Ho’ble Loksabha Speaker Smt. Sumitra ji Mahajan for establishment of NCLT @Indore

Felicitation of Dr. Narendra Dhakar - Vice Chancellor of DAVV Indore

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Vice President of ICSI CS Shyam Agrawal – Indore Chapter Visit

In-house Discussion on “ SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 By CS K.S. Ravichandran

Blood donation Camp and Celebration of Republic day

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Interaction with President of ICSI CS Mamta Binani @Chairman Meeting at CCGRT Mumbai

In Discussion on “View Invited on CLC Report”

ICSI-WIRC FULL DAY SEMINAR ON A DAY WITH LEGEND

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“Management Tips Through The Movie ‘The Pursuit Of Happiness”

Talk on Union Budget-2016 ICAI Auditorium, ICAI Indore Branch, Vijay Nagar, Indore

Colors of Life- Program on Women’s Day

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ICSI-BSE Joint Seminar on Listing Regulations

Contribution In CS Benevolent Fund By Indore Chapter

Management Skills Orientation Program

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Whirlwind Plenary on Evangelizing the International Corporate Governance Day”

Moot Court Activity at Prestige Institute of Management & Research, Department Of Law, Indore

Celebration of PCS day

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Yoga Day & Health Check Up Camp

Annual Regional Confrence-2016

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VAN MAHOTSAV

Interactive session with ROC-MP

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Students updates on emerging aspects in Corporate Laws Executive Development Program

CS PATHSHALA

Drafting of Director’s Report & AGM notice:-by CS Rajesh Lohia Annual Return-MGT-7 by CS Ashish Garg

MCA E-Filling form MGT-14, DIR 11 & 12 by CS L N Joshi Drafting of Minutes of Board Meeting &

AGM by CS (Dr.) D K Jain

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Incorporation of companies by Cs Amrish Choursia Recent amendments in service tax by CA

Navin Khandelwal

SWACHCHTA SHAPATH & GO-GREEN ABHIYAN

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ICSI INDORE IN NEWS -2016

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