Commerce Lab 1.0

Theoretical education is important but at the very same time its application in real life scenarios is of equal significance. To help the students and show them a glimpse of the corporate world, the Department of Commerce of The Bhawanipur Education Society College along with the Institute of Company Secretaries of India (ICSI) came up with a 7-day insightful course. The major aim of this course was to provide practical insights into the working of the corporate sector under the banner of ‘Commerce Lab’.

This course began from the 10th of August and CS Anil Kumar Dubey, Chairman of the Eastern Regional Council of ICSI graced us with his presence. Prof. Dilip Shah, the Dean of student affairs of the college inaugurated the event. In his address he emphasized the significance of practical knowledge in today’s world and how enlightening this course would be for the participating students. 

Spanning over 8 days, on the very first day of the course four practicing Company Secretaries were invited to guide the students with their experience. Topics such as protection of brand, appointment of directors and incorporation of LLP were discussed by them. CS Raveena Dugar explained the aspects of MCA which include viewing master data, director’s data, index of charges and viewing public documents. CS Chandni Maheswari talked on the incorporation of LLP. CS Rajat Aggarwal delivered a speech on how to create and protect a brand. CS Sneha Khaitan introduced a practical approach to appoint a director in a company. Prof. Minakshi Chaturvedi’s address to the students concluded the day. 

On the second day students were guided in the domain of GST, Six Sigma and essentials of managing a business. Professional etiquettes in workplace and drafting of agreements were further discussed. CS Nikhil Israni presented an introduction to GST- GSTR 3B and GSTR 1. CS Davinder Kaur highlighted on the operations and business development of an entity. CS Chitra Thekwani counselled the professional etiquette at the work space and Advocate Varsha Agarwalla expounded the drafting of rent agreement.

On the third day, a very informative session relating to Digital Signature and Directors Identification Number was conducted. Apart from this various corporate and cyber crimes were also discussed in retrospect of real life case studies. CS Alpana Agarwal  familiarized us with the drafting of minutes. CS Vivek Mishra highlighted on corporate scams and their effects. CS Kanak Sharma talked on DSC and DIN while CS Prateek Kohli threw light on the crucial concept of company administration. 

On the fourth day of the seminar students were guided in terms of career opportunities in the field of CSR. Factors such as Indian government’s approach towards CSR and the impact of CSR along with the concepts of tax assessment and TDS were thoroughly discussed. CS Rupanjana De discussed the prospects of career in Corporate Social Responsibility. CS Madhuri Pandey pointed to the Name Availability for Incorporation of Company. CS Sumit Kumar clarified on how to handle notices from IT Dept post ITR filing. CA Rajan Gupta brought into discussion the practical aspect of TDS Compliance and Management.

On the fifth day light was shed upon how to execute CSR projects and a very educative discussion on stock marketing functioning took place. CS Pankaj Khanna elaborated on Stock Market case studies. CS Rakhi Dasgupta substantiated the practical execution of CSR Projects under the Company Law. CS Rounak Nahata made clear the drafting of affidavit. CS Arya Shaw explained the process of resignation or removal of a director. 

On the sixth day, the section 69 of the Companies Act was simplified and explained to the students. Apart from this, the various types of partnerships and elements of partnership agreement were spoken about. CS Aditi Jhunjhunwala discussed at length the concept of Buy Back of  Shares. CS Aditya Purohit gave a practical insight into Corporate Restructuring. Advocate Anita Sarswat elucidated on Drafting of Partnership Agreement and Agreement to Sale and CS Jayabrata Mukherjee appraised the Drafting of Proper Petition for Speedy Litigation. 

The seventh day of the event gave the students a very brief insight of annual reports and the significance of futuristic outlooks of a company. CS Priyanka Tibrewal gave us an overview of Annual Return (MGT7) while CS Sumit Jaiswal delineated the significance and the prospects of Annual Report. Sikha Maloo spoke on the career opportunities in IBC and CS Khusbu Agarwal took to explain the Drafting of Supplementary LLP Agreement. 

The eighth and the final day was all about motivating the students to make effective use of their abilities and not give up. Inspirational stories of successful business persons from all over the world were talked about. A mock board meeting was also conducted. CS Namita Jaiswal talked about the importance of Personality Development. CS Rakesh Sharma and CS Aradhna Nathany proposed the provisions and enactment of a Board Meeting. Prof.Dalia Sharma and Prof. Nitin Chaturvedi also participated in the mock board meeting. Vishal Dhona shared the journey of Munimji ERP software. Finally, CS Hansraj Jaria brought MSME into discussion and rendered on the students a perception and vision of the same. 

The course ‘Commerce Lab’ witnessed more than 35 professionals in a brief span of 8 days. More than 70 students have been benefitted by this extremely educative course which focused not just on the importance of theoretical knowledge but also upon practical proficiency and its significance in today’s fast paced thriving world. Every person who has been a part of this effort has duly assisted the students with their expertise and guidance. 

Reported by:
Akshita Suri, Sk Md Zaheeruddin.