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Inaugurating the programme, MLA S.R. The Chairman, CS N Santhanam apprised
Mahesh opined that awareness on GST the members about the introduction of the
should be created among rural people. He Insolvency and Bankruptcy Code 2016 and
appreciated the concept of GST which would highlighted the various provisions of the
channelise funds to the Government in a Code. CS S Gnanashekaran, Vice Chairman
better way but expected the government to apprised the members of the objectives of
provide good infrastructure to industrial the code and the time bound mechanism to
sector in return. resolve the insolvency process and
liquidation.
Continuing, Mahesh remarked that lower
rung officials of Commercial Tax Department The members deliberated at length on the
were harassing the traders though taxes Insolvency Professional Agencies,
were being paid regularly. He appealed to Insolvency Professionals, Information Utility,
the higher officials to prevent such steps involved in the resolution mechanism,
harassment the constitution of Insolvency and
Bankruptcy Board of India as the regulator
Briefing the gathering, Additional etc. There was a good interaction.
Commissioner for Commercial Taxes B.V.
Ravi said that GST would merge 17 existing SEMINAR ON BOARDS REPORT &
taxes into a single system for the benefit of DISCLOSURES HELD
tax payers. He added that GST would
ensure uniform pricing of products ICSI – Salem Chapter organised Seminar on
throughout the country. Boards Report & Disclosures for the
Students and Members at Chapter Premises
Jt. Director of Commercial Taxes (Audit) on 21.1.2017. CS Asifa J, Member of the
K.S. Basavaraj, Dy. Commissioner (Audit) Chapter & Company Secretary, Kandagiri
D.P. Prakash, ICSI-Mysore Chapter Spinning Mills Ltd., Salem gave the
Chairman CS Balakrishnan V.J., FKCCI presentation on the topic and she covered
Vice-President Sudhakar S. Shetty, MCCI about the Provisions to be Referred, Manner
President A.S. Satish and FKCCI State of Preparation of Boards Report, Disclosures
Taxation Committee Chairman B.T. for all Companies with a Comparative Check
Manohar were present during the occasion. List and the overview on Provisions yet to be
enforced. She also explained about the
SALEM CHAPTER additional disclosure for Listed Companies.
The session was very live and interactive.
STUDY CIRCLE MEET ON INSOLVENCY Queries raised by the participants were
AND BANKRUPTCY CODE, 2016 clarified immediately.
th
A study circle meet was organized on 17 Earlier CS Gnanashekaran S, Chairman
December, 2016 at Salem Chapter for the welcome the participants. CS Santhanam
benefit of Members on the topic: “Insolvency N, Member introduced the Speaker and CS
and Bankruptcy Code 2016”. Chairman and Solaiyappan S, Member gave vote of
other office bearers and members thanks.
participated in this study circle meet.
16
SIRC eNewsletter/January 2017
