The Chartered Accountants Benevolent Fund Announcement
For kind attention of all members of the Chartered Accountants Benevolent Fund
Dated 15th September 2010
This is to inform you that as required under Rule 28 of the Chartered Accountants’ Benevolent Fund Rules and Regulations, the 50th Annual General Meeting of the Fund will be held at 5.00 p.m. on 21st September, 2010 in the office of the Institute of Chartered Accountants of India, Indraprastha Marg, New Delhi. In compliance with Rule 29 of the said Rules and Regulations, the agenda for the meeting together with the report of the Managing Committee and the statement of Accounts for the year ended 31st March 2010 is given hereunder:
Item No. 1 Opening remarks of the Chairman
Item No. 2 Adoption of the Report of the Managing Committee on the working of the Fund for the year ended 31st March 2010.
The Report of the Managing Committee is placed at Annexure “A”
Item No. 3 Adoption of the Income & Expenditure Account and Balance Sheet of the Fund as at 31st March 2010.
A copy of the audited accounts is placed on table.
Item No. 4 Appointment of auditors of the Fund for the year 2010-11.
M/s. K .M. Agarwal & Co, were the honorary auditors of the Fund for the year 2009-2010. The firm is eligible for re-appointment.
Item No. 5 Noting of the financial assistance paid to beneficiaries of an amount of Rs.100000/- or more during the financial during the financial year 2009 to 2010.
It may be noted 42 beneficiaries have been paid Rs.1,00,000/- and more during the year 2009-2010 towards lump sum financial assistance on death of the members.
Item No. 6: Election of the members of the Managing Committee for the Management of the Fund.
The present composition of the Managing Committee is as under:
1. CA. Amarjit Chopra, President–Ex-Officio Chairman
2. CA. G.Ramaswamy, Vice-President–Ex –Officio Vice-Chairman
3. CA. N D Gupta, Member Secretary (Re-elected 2009)
4. CA. S.C.Vasudeva, Member (Elected 2009)
5. CA. Man Mohan Gupta, Member (Elected since 2008)
6. CA. Hem Chand Jain, Member (Elected since 2008)
7. CA. Sanjay Kumar Agarwal, Member (Elected, 2009)
Under Rule 7(2) of the Rules and Regulations of the Fund 1/3rd of the elected members i.e. 2 members retire every year. CA. Manmohan Gupta and CA. Hem Chand Jain are due to retire as members of the Managing Committee this year. They are, however, eligible for re-election.
The Member-Secretary of the Fund may also be elected for the year 2010-11
ANY OTHER BUSINESS WITH THE PERMISSION OF THE CHAIR.
Note: I wish to add that under Rule 38 of the said Rules and Regulations, no member is entitled to any fee or traveling expenses or other allowances for attending the meeting, whether annual or special.
You are requested to make it convenient to attend the meeting.
REPORT OF THE MANAGING COMMITTEE OF THE CHARTERED ACCOUNTANTS’ BENEVOLENT FUND FOR THE YEAR 2009-2010.
The Managing Committee of the Chartered Accountants’ Benevolent Fund has pleasure in submitting the following report for the year ended 31st March 2010 to the General Body of the Chartered Accountants’ Benevolent Fund.
1. Membership of the Fund
The total number of life members of the fund is 97564. Efforts are being made to increase life membership of the fund. Last year, the total number of life membership was 94480
2. Disbursement from the Fund
A sum of Rs.2,29,75,500/- was disbursed by way of financial assistance during the year to members in distress as against Rs.57,00,000/- disbursed in the previous year.
During the year a sum of Rs. 13,25,432/- was received as voluntary contribution from the members. (Previous year it was Rs. 10,69,219/-).
3. Financial position of the Fund
The balance to the credit of General Fund at the close of the year stood at Rs. 94,28,627as against Rs. 1,99,08,990/- at the end of the previous year. The year closed with a deficit of Rs. 1,04,80,363/-. The addition to the corpus of the Fund during the year was Rs.74,25,000/-. The balance to the credit of corpus Fund is Rs.8,81,07,800/- as against Rs 8,06,82,800/- at the end of the previous year.
4. Increase in Membership
The number of life members of the Fund increased from 94480 as on the date of the last meeting to 97564. The efforts have been made to increase the membership of the fund and to augment more contribution for the fund by hosting the announcement in CA Journal every month, CA Newsletter, in fee circular. Further an appeal has been sent twice by CA. Amarjit Chopra, President to all the members requesting them to contribute generously for CABF. It is expected that a sizeable corpus of the fund would be built up to provide adequate financial assistance to the needy members and their families.
5. Office bearers and Members of the committee
CA. Amarjit Chopra, President and CA. G.Ramaswamy, Vice-President are Ex-officio Chairman and Vice-Chairman respectively of the Fund. The other members of the Managing Committee are:
1) CA. N.D.Gupta, Member Secretary
2) CA. S.C.Vasudeva, Member
3) CA. Sanjay Kumar Agarwal, Member
4) CA. Man Mohan Gupta, Member
5) CA. Hem Chand Jain, Member