Workshop for Professors on “Companies Act ‘13”

BESC organised a 5 Day workshop for the Professors of the college on “Companies  Act 2013” under the initiative of Prof Dilip Shah. The speakers were eminent professionals  from the corporate world and Practicing professionals. 

Day 1,Mr Anil Dubey,a Company Secretary and Advocate, briefed  us  about  the  responsibilities  of Directors, importance of Financial  Reporting and allied matters before CA,CS Akhilesh Srivastava, a prolific practitioner, took the charge. He expressed his views on the newly passed Act. He provided us with a great deal of insight on topics such as Independent Directors,  Articles of Association, Memorandum of Association.

On Day 2, Mr Anurag Singhal, a renowned Chartered Accountant and an MBA(IIM?A) and working with the Aditya Birla Group, started the  workshop  with  an in?depth analysis  of the  changes  in  the  role of Auditors, the importance of  Auditor’s Report and  the loop holes  in the legislature  exploited by the corporates. An engrossing debate took place between the faculty  and the  Professors as the faculty deliberated on Accounting Standard and IFRS.

On Day 3, CA Sumit Binani a renowned auditor was invited. He discussed provisions prohibiting  mishandling of funds and governance issues. He regretted and showed his disapproval of the Act  treating the Public and Private Ltd companies at par. He talked about the procedure of Issuing Securities and emphasised on Private placement and preferential offer, Public Deposits and  Non NBFCs vs NBFCs. His deliberation was deep and clear. All those present felt enriched.

On Day 4, CS Hansraj Jharia from Ratnabali securities started the workshop on a vote of thanks to  Professor Dillip  Shah. He informed us on the procedures of different types of meetings  of a company. He told us about postal ballot, e?voting, Ordinary and Extraordinary General Meeting, Meeting through Video Conferencing,  Audit Committee,  Nomination  and Remuneration Committee  and Stakeholders’ Relation Committee. His talk was clear and concise.

On Day, 5 CS Anjan Kumar Roy, Former Chairman EIRC,ICSI took the reins and talked about  Corporate Social Responsibility. He gave us a clear idea about the composition of a CSR  Committee and Policy, CSR Activities, CSR Reporting but more importantly he instilled in us  the importance of ethics in one’s professional life. He also spoke at length on Corporate Governance and expressed his indebtedness to Prof. Dilip Shah as his mentor.

Finally, on Day 6 the teachers gave a test and later they were felicitated by Prof Dilip Shah with  certificates signifying the successful completion of the workshop!!

The participants of the workshop felt that such initiative of the college should be repeated for continuous updation.