Steps to set up a Pvt. Ltd. Company
Entrepreneurs, enterprises, or corporate bodies desirous of forming a new company, should follow the following elegant step by step procedures:-1. Selection of the type of company.According to the objectives of the company, proposed scale of operations & activities, capital involved, etc. the promoters have to decide exactly and precisely the type of company as the private company, public company, non-profit making company, etc. 2. Selection of name for the proposed company.A minimum of six proposed names of the company to be formed, is selected by the promoters after scrupulous observation of various provisions, circulars, and rules of the Ministry of Corporate Affairs (MCA). On receipt of the completed application in e-Form 1A, filled in up by the promoters, the concerned Registrar of Companies confirms the possibility of adoption of the sent proposed names, such confirmation remains valid only for a period of six months. Failure of submission of the required documents from the promoters’ side within this time period of six month, necessitates the submission of another application together with proposed names, and payment of the requisite fees.3. Apply for the Directors Identification Number (DIN) and Digital Signatures.Before the submission of completed e-Form1A, the directors of the proposed company must ensure that they have legitimate DIN. In case they do not have the DIN, they are required to apply for the same as per the new section 266A of the Companies (Amendment) Act, 2006. Again, every document prescribed under the Companies Act, 1956, is required to be filed with the digital signature of the managing director, or director, or manager, or secretary of the proposed company.4. Drafting of Memorandum and Articles of Association.Drafting of the Memorandum (M.O.A) and Articles of the Association (A.O.A), is the very next step after getting confirmation of name by the Registrar. These two documents are of the paramount importance as these contain ultimate objectives (as also shown in the e-Form) and cherished & ideal rules & regulations of the company. It should be noted that the main objects should match with the objects shown in e-Form. The M.O.A and A.O.A must be drafted very scrupulously with great care and concern, after a comprehensive and elegant counsel of the concerned experts. 5. Stamping, digitally signing and e-filing of various documents with the Registrar.For the incorporation of company the documents submitted to the Registrar along with the mandatory registration fees, may include Memorandum and Articles of the Association, Declaration in e-Form1, Power of Attorney, e-Form 18, e-Form 32, and copies of any other agreements. 6. Payment of Fees.The registration fees vary depending upon the authorized capital of the proposed company, which can be effortlessly calculated from the Ministry of Companies Affairs portal.7. Obtaining Certificate of Incorporation.After the censorious observation of the required documents specified in sections 33(1) and 33(2) from the company side, the Registrar registers the memorandum and articles of the association and issues a certificate of incorporation within a period of 7 days of receipt of the documents, as per the section 34(1).8. Preparation and filing of Prospectus/Statement in lieu of Prospectus and e-Form 19/20 (in case of public companies) for obtaining the certificate of commencement of business.9. Obtaining Certificate of Commencement of business (in case of public limited companies).
Friday, February 19, 2010
Steps to Limited Liability Partnership
Step I: Deciding the Partners & Designated Partners. A LLP can be incorporated with a minimum of atleast two partners who can be Individuals or Body Corporate through their nominees. Further for incorporating an LLP, of the total number no. of partners, atleast two shall be Designated Partners, of which atleast one must be an Indian Resident. Step II: Obtaining DPIN & Digital Signatures. Section 7 (6) of LLP Act 2008, provides that every Designated Partner to obtain a DPIN from the Central Government. Every Designated Partner requires Digital Signature for being registered as Business user. The signatures shall also be required for signing and filing of all relevant forms and documents to be filed, annually or event based after incorporation of the LLP, asking for approvals or as intimation. Step III: Checking Name Availability of LLP The name of the limited liability partnership shall not be similar or identical with Company or LLP already registered in India and it should not contains words prohibited under the ‘Emblems and Names (Prevention of improper use) Act, 1950’or which are also not ‘Undesirable’ in the opinion of Central Government or which satisfies the conditions prescribed under rule 18(2). For more information check Name Availability Guidelines. Step IV: Drafting of LLP Agreement The next pertinent step is drafting of Limited Liability Partnership Agreement governing the mutual rights and duties among the partners and among the LLP and its partners containing the basic content in respect of Name of LLP, Name of Partners & Designated Partners , Form of contribution , Profit Sharing ratio , Rights & Duties of Partners , Proposed Business , Rules for governing the LLP. In case no agreement is entered into, the rights & duties as prescribed under Schedule I to the LLP Act shall be applicable Step V: Filing of Incorporation Documents Next is the filing of Incorporation documents (e Form 2), consent of Partners (e Form 4), LLP Agreement (e Form 3) and declaration electronically through the medium of e-forms prescribed with the Registrar of Companies for incorporation of the LLP on payment of prescribed fees based on the total monetary value of contribution of partners in the proposed LLP. Step VI: Certificate of Incorporation After the Registrar is satisfied that all the formalities with respect to the incorporation has been complied, he will issue a Certificate of Incorporation as to formation of the LLP within maximum of 14 days from date of filing of documents. The Certificate of Incorporation issued shall be the conclusive evidence of formation of the LLP. To know more on Formation Procedure & LLP in India, log on to www.llponline.in
# # #
After the successful launch of www.takeovercode.com Corporate Professionals’, a leading Corporate Legal &Financial Advisory firm, today announced the launch of www.llponline.in, the one stop online solution for any information pertaining to LLP law in India.
PROCEDURE FOR REGISTRATION OF LLP INDIA
Stage I - Partners
Stage II - DPIN & DSC
Stage III - Name filing
Stage IV - Agreement
Stage V - Filing of Incorporation documents
Stage I – Partners
To form a LLP, there should be Minimum two partners and at least two shall be designated partners having DIPN. In case of body corporate as partners, their nominee can be act as designated partners. Out of two designated partners, one must be resident in India. (Who has stayed in India for a period of not less than one hundred and eighty two days during the immediately preceding financial year)
Stage II - Obtaining DPIN & Digital Signature
DPIN can be obtained by making an application online withwww.llp.gov.in After submitting the online application, signed physical copy of Form 7 has to be submitted to Ministry of Corporate Affairs along with certified copies of address proof and Identity proof of the applicant.
Digital Signature can be obtained from any of the Certifying Authorities in India.
Stage III - Name filing
After finalization of name, an application of name availability has to be filed in form 1 with www.llp.gov.in for approval. Please note that selection of name is subject to Guidelines issued by MCA.
Stage IV - Agreement
LLP agreement has to be drafted line with LLP Act. It is not mandatory to file LLP agreement at the time of registration and same can be file with in 30 days. If no agreement is framed, provisions of Schedule I of the LLP Act shall be applicable.
Stage V - Filing of Incorporation Documents
The following documents along with required attachments has to be filed with www.llp.gov.in
Form 2 : Details of partners, registered office etc
Subscripttion Sheet: All partners are required to subscribe their names along with signatures to the subscripttion sheet, which shall be witnessed by any chartered Accountant/Company Secretary/Advocate in practice.
Form 4: Consent of Partners - Consent of each partner to become a partner of Liability Partnership
Form 3: LLP agreement – this can be filed with in 30 days from the date of registration
Above said documents are required to be filed after signing digitally. After verification, registrar will register all documents and issue Certificate of Incorporation.
CompaniesInn.com India Private Limited
# 463, 10th Main 13th Cross Wilson Garden Bangalore—560 027 INDIA
Tel : +91 80 4219 4109
Mobile : +91 96633 29656
E-Mail : info @ companiesinn.com
Web : www.companiesinn.com
# # #
After the successful launch of www.takeovercode.com Corporate Professionals’, a leading Corporate Legal &Financial Advisory firm, today announced the launch of www.llponline.in, the one stop online solution for any information pertaining to LLP law in India.
PROCEDURE FOR REGISTRATION OF LLP INDIA
Stage I - Partners
Stage II - DPIN & DSC
Stage III - Name filing
Stage IV - Agreement
Stage V - Filing of Incorporation documents
Stage I – Partners
To form a LLP, there should be Minimum two partners and at least two shall be designated partners having DIPN. In case of body corporate as partners, their nominee can be act as designated partners. Out of two designated partners, one must be resident in India. (Who has stayed in India for a period of not less than one hundred and eighty two days during the immediately preceding financial year)
Stage II - Obtaining DPIN & Digital Signature
DPIN can be obtained by making an application online withwww.llp.gov.in After submitting the online application, signed physical copy of Form 7 has to be submitted to Ministry of Corporate Affairs along with certified copies of address proof and Identity proof of the applicant.
Digital Signature can be obtained from any of the Certifying Authorities in India.
Stage III - Name filing
After finalization of name, an application of name availability has to be filed in form 1 with www.llp.gov.in for approval. Please note that selection of name is subject to Guidelines issued by MCA.
Stage IV - Agreement
LLP agreement has to be drafted line with LLP Act. It is not mandatory to file LLP agreement at the time of registration and same can be file with in 30 days. If no agreement is framed, provisions of Schedule I of the LLP Act shall be applicable.
Stage V - Filing of Incorporation Documents
The following documents along with required attachments has to be filed with www.llp.gov.in
Form 2 : Details of partners, registered office etc
Subscripttion Sheet: All partners are required to subscribe their names along with signatures to the subscripttion sheet, which shall be witnessed by any chartered Accountant/Company Secretary/Advocate in practice.
Form 4: Consent of Partners - Consent of each partner to become a partner of Liability Partnership
Form 3: LLP agreement – this can be filed with in 30 days from the date of registration
Above said documents are required to be filed after signing digitally. After verification, registrar will register all documents and issue Certificate of Incorporation.
CompaniesInn.com India Private Limited
# 463, 10th Main 13th Cross Wilson Garden Bangalore—560 027 INDIA
Tel : +91 80 4219 4109
Mobile : +91 96633 29656
E-Mail : info @ companiesinn.com
Web : www.companiesinn.com
How to Close Limited liability Partnership
Declaring the LLP as Defunct
In case the LLP wants to close down its business or where it is not carrying on any business operations, it can make an application to the Registrar of Companies for declaring the company as defunct and removing the name of the LLP from its register of LLP’s.
The procedure is given below
An application is required to be made in eForm 24 to the Registrar of Companies for Striking off the name of the LLP under clause (b) of sub rule 1 of Rule 37 of LLP Rules 2008 with the consent of all partners.
The Registrar shall publish a notice on its website as to the content of the application for a period of one month for the notice of the general public.
Application submitted to be supported by Indemnity Bonds to indemnify any person legally claiming after the LLP to be striked off and duly sworn Affidavits declaring all the information provided and statements given to be true, from all partners.
Application filed also to be supported by approvals or No Objection Certificates from concerned Regulatory Authorities with which the LLP is registered. For eg. LLP engaged in or registered with RBI for Banking Business has to obtain NOC from RBI before winding up of its affairs.
The Registrar, where he has sufficient cause to believe that the limited liability partnership has any asset or liability, satisfy himself that sufficient provision has been made for the realization of all amount due to the limited liability partnership and for the payment or discharge of its liabilities and obligations by the limited liability partnership within a reasonable time and, if necessary, obtain necessary undertakings from the designated partner or partner or other persons in charge of the management of the limited liability partnership
On the expiry of period of one month, the Registrar may, by an order, unless cause to the contrary is shown by the limited liability partnership, strike its name off the register, and shall publish notice thereof in the Official Gazette, and on the publication in the Official Gazette of this notice, the limited liability partnership shall stand dissolved.
Guidelines
There should have been no liability existing or obligation subsisted on part of LLP and its partners.
There should be no litigation pending for or against LLP.
The assets of the limited liability partnership shall be made available for the payment or discharge of all its liabilities and obligations even after the date of the order removing the name of the limited liability partnership from the register
Liability of the Designated Partners subsists even after dissolution of LLP for payment of any legal dues to its creditors and other persons as if the LLP has not been dissolved.
Declaring the LLP as defunct is much easier process to close down the LLP as compared to wounding up because it does not involves high formalities and due to simplified procedure, the time consumed is comparatively very less.
Winding up of LLP
Winding up is process, where all the assets of the business are disposed off to meet the liabilities of the same and surplus any, is distributed among the owners. The LLP Act 2008 provides for following two modes for winding up the LLP i.e.:
Voluntary winding up-
Compulsory winding up
Voluntary Winding up: Under this, the partners may between themselves decide to stop and wound up the operations of the LLP.
Compulsory winding up- A limited liability partnership may be compulsorily wound up by the Tribunal,—
if the limited liability partnership decides that limited liability partnership be wound up by the Tribunal;
if, for a period of more than six months, the number of partners of the limited liability partnership is reduced below two;
if the limited liability partnership is unable to pay its debts;
if the limited liability partnership has acted against the interests of the sovereignty and integrity of India, the security of the State or public order;
if the limited liability partnership has made a default in filing with the Registrar the Statement of Account and Solvency or annual return for any five consecutive financial years; or
if the Tribunal is of the opinion that it is just and equitable that the limited liability partnership be wound up.
The Ministry of Corporate Affairs has issued the draft rules in respect of the procedure to be followed for winding up of the LLP but the same has not been notified yet.
In case the LLP wants to close down its business or where it is not carrying on any business operations, it can make an application to the Registrar of Companies for declaring the company as defunct and removing the name of the LLP from its register of LLP’s.
The procedure is given below
An application is required to be made in eForm 24 to the Registrar of Companies for Striking off the name of the LLP under clause (b) of sub rule 1 of Rule 37 of LLP Rules 2008 with the consent of all partners.
The Registrar shall publish a notice on its website as to the content of the application for a period of one month for the notice of the general public.
Application submitted to be supported by Indemnity Bonds to indemnify any person legally claiming after the LLP to be striked off and duly sworn Affidavits declaring all the information provided and statements given to be true, from all partners.
Application filed also to be supported by approvals or No Objection Certificates from concerned Regulatory Authorities with which the LLP is registered. For eg. LLP engaged in or registered with RBI for Banking Business has to obtain NOC from RBI before winding up of its affairs.
The Registrar, where he has sufficient cause to believe that the limited liability partnership has any asset or liability, satisfy himself that sufficient provision has been made for the realization of all amount due to the limited liability partnership and for the payment or discharge of its liabilities and obligations by the limited liability partnership within a reasonable time and, if necessary, obtain necessary undertakings from the designated partner or partner or other persons in charge of the management of the limited liability partnership
On the expiry of period of one month, the Registrar may, by an order, unless cause to the contrary is shown by the limited liability partnership, strike its name off the register, and shall publish notice thereof in the Official Gazette, and on the publication in the Official Gazette of this notice, the limited liability partnership shall stand dissolved.
Guidelines
There should have been no liability existing or obligation subsisted on part of LLP and its partners.
There should be no litigation pending for or against LLP.
The assets of the limited liability partnership shall be made available for the payment or discharge of all its liabilities and obligations even after the date of the order removing the name of the limited liability partnership from the register
Liability of the Designated Partners subsists even after dissolution of LLP for payment of any legal dues to its creditors and other persons as if the LLP has not been dissolved.
Declaring the LLP as defunct is much easier process to close down the LLP as compared to wounding up because it does not involves high formalities and due to simplified procedure, the time consumed is comparatively very less.
Winding up of LLP
Winding up is process, where all the assets of the business are disposed off to meet the liabilities of the same and surplus any, is distributed among the owners. The LLP Act 2008 provides for following two modes for winding up the LLP i.e.:
Voluntary winding up-
Compulsory winding up
Voluntary Winding up: Under this, the partners may between themselves decide to stop and wound up the operations of the LLP.
Compulsory winding up- A limited liability partnership may be compulsorily wound up by the Tribunal,—
if the limited liability partnership decides that limited liability partnership be wound up by the Tribunal;
if, for a period of more than six months, the number of partners of the limited liability partnership is reduced below two;
if the limited liability partnership is unable to pay its debts;
if the limited liability partnership has acted against the interests of the sovereignty and integrity of India, the security of the State or public order;
if the limited liability partnership has made a default in filing with the Registrar the Statement of Account and Solvency or annual return for any five consecutive financial years; or
if the Tribunal is of the opinion that it is just and equitable that the limited liability partnership be wound up.
The Ministry of Corporate Affairs has issued the draft rules in respect of the procedure to be followed for winding up of the LLP but the same has not been notified yet.
Limited Liability Partner ship Incorpopration
Incorporation Procedure:
•
Step I Deciding the Partners and Designated Partners
A LLP can be incorporated with a minimum of atleast two partners who can be Individuals or Body Corporate through their nominees. Further for incorporating an LLP, of the total number no. of partners, atleast two shall be Designated Partners, of which atleast one must be an Indian Resident.
Parameters for deciding the Partners and Designated Partners:
Atleast Two Partners; Individuals or Body Corporate through individual nominees.
Minimum of Two Individuals as Designated Partners, of total no. of Partners.
Atleast One Designated Partner to be Resident Indian.
A person ‘Resident in India’ means a person who has stayed in India for a period of not less than one hundred and eighty two days during the immediately preceding one year. (Explanation to Section-7())
‘Designated Partner’ means a partner who is designated as such in the incorporation documents or who become a designated partner by and in accordance with the Limited Liability Partnership Agreement
•
Step II Obtaining DPIN No. & Digital Signature
Designated Partner Identification Number (DPIN): Section 7 (6) of LLP Act 2008, provides that every Designated Partner to obtain a DPIN from the Central Government.
DPIN is an eight digit numeric number allotted by the Central Government in order to identify a particular partner and can be obtained by making an online application in eForm 7 to Central Government and submitting the physical application along with necessary identity and Address proof of the person applying with prescribed fees.
Digital Signature Certificate: As all the documents and forms required for incorporating an LLP in India to be filed electronically and under the signatures of Designated Partners, thus atleast one Designated Partner to obtain the digital signature certificates from government recognized DSA’s. The signatures shall also be required for signing and filing of all relevant forms and documents to be filed, annually or event based after incorporation of the LLP, asking for approvals or as intimation.
Likewise the manual signatures, digital signature certificates are individual specific and no partner needs to obtain more than one.
•
Step III Checking the Name Availability
The next step is to decide the name for the proposed LLP to be incorporated, anyone intending to incorporate an LLP has to evaluate his proposed name under the prescribed parameters and make an application in Form 1of Rule 18(5) of the Limited Liability Partnership Act 2008, for reservation of the desired name.
The name of the limited liability partnership shall not be similar or identical with Company or LLP already registered in India and it should not contains words prohibited under the ‘Emblems and Names (Prevention of improper use) Act, 1950’or which are also not ‘Undesirable’ in the opinion of Central Government or which satisfies the conditions prescribed under rule 18(2). For more information check Name Availability Guidelines.
In case any Body Corporate is partner, copy of Board resolution authorizing the incorporation of LLP shall be attached
Undesirable Names- Connote
If in the opinion of the department, the name by which a Company is registered gives so misleading an indication of the nature of its activities as to be likely to cause harm to the public, the department may direct it to change its name. A Company registered under the Companies Act, is not entitled to carry on its business in such a way or under such a name, as to represent that its business is the business of any other company or firm or person; and the absence of fraud is immaterial. In such cases, the old company or firm can apply to the court for an injunction, and in such cases the principles that apply to individuals trading under identical or similar names would become applicable.
•
Step IV Drafting of LLP Agreement
The next pertinent step is drafting of Limited Liability Partnership Agreement governing the mutual rights and duties among the partners and among the LLP and its partners.
The basic contents of Agreement are:
Name of LLP
Name of Partners & Designated Partners
Form of contribution
Profit Sharing ratio
Rights & Duties of Partners
Proposed Business
Rules for governing the LLP
In case no agreement is entered into, the rights & duties as prescribed under Schedule I to the LLP Act shall be applicable
It is not necessary to have the LLP Agreement signed at the time of incorporation, as the details of the same needs to field in eform 3 within 30 days of incorporation but in order to avoid any dispute between the partners as to the terms & conditions of the agreement after the formation of LLP, it is always beneficial to have the LLP Agreement drafted and executed before the incorporation of the LLP.
In case the Agreement is executed outside India, than it must be notarized and consularized, for more information check “Incorporation of LLP” under FAQ’s
•
Step V Filing of Incorporation Documents
Next is the filing of Incorporation documents, consent of Partners and declaration electronically through the medium of e-forms prescribed with the Registrar of Companies for incorporation of the LLP on payment of prescribed fees based on the total monetary value of contribution of partners in the proposed LLP.
eForm 2: Incorporation Document
This is an informative document setting down the details of LLP, its Partners including designated partners along with their amount of contribution and consent for forming a Limited Liability Partnership to carry on a lawful business with profit motive along with declaration stating that all the requirements of Limited Liability Partnership Act, 2008 regarding incorporation of LLP in India have been complied with.
eForm 3: Details of LLP Agreement
This form provides for the necessary information in respect to the LLP Agreement entered into between the partners.
eForm 4: Consent of Partners Consent of each partner to become a partner of Limited Liability Partnership along with their address and identity proof to be filed with the Registrar of Companies.
Subscription Sheet: Just like in case of Company formation, the partners are required to subscribe their names along with signatures to the subscription sheet, which shall be witnessed by any chartered Accountant/Company Secretary/Advocate in practice.
In case the subscription sheet is executed outside India, than it must be notarized and consularized, for more information check “Incorporation of LLP” under FAQ’s
eForm 3 & 4 are required to filed within 30 days of the incorporation.
All the eforms will be digitally signed by any Designated partner and shall be certified by an advocate/company secretary/chartered accountant/cost accountant in practice engaged in the formation of LLP.
Key points:
Filling will be done on www.llp.gov.in
DesignaThe next pertinent step is drafting of Limited Liability Partnership Agreement governing the mutual rights and duties among the partners and among the LLP and its partners.
The basic contents of Agreement are:
Name of LLP
Name of Partners & Designated Partners
Form of contribution
Profit Sharing ratio
Rights & Duties of Partners
Proposed Business
Rules for governing the LLP
In case no agreement is entered into, the rights & duties as prescribed under Schedule I to the LLP Act shall be applicable
It is not necessary to have the LLP Agreement signed at the time of incorporation, as the details of the same needs to field in eform 3 within 30 days of incorporation but in order to avoid any dispute between the partners as to the terms & conditions of the agreement after the formation of LLP, it is always beneficial to have the LLP Agreement drafted and executed before the incorporation of the LLP.
In case the Agreement is executed outside India, than it must be notarized and consularized, for more information check “Incorporation of LLP” under FAQ’s
ted Partner who would be signing all the forms need to register as business user
Digital Signature (DSC) is necessary for registering as Business user
LLP portal does not accept DSC from token at time of registration as business user, you need to export the public key of the DSC on the system and register the same. To know more, check out the Digital Signatures under FAQ’s
•
Step VI Certificate of Incorporation
After the Registrar is satisfied that all the formalities with respect to the incorporation has been complied , he will issue a Certificate of Incorporation as to formation of the LLP within maximum of 14 days from date of filing of documents . The Certificate of Incorporation issued shall be the conclusive evidence of formation of the LLP.
Documents Required:
eForm 1-Name Availability Application
eForm 2-Incorporation Document
eForm 3- Details of LLP Agreement
eForm 4-Consent of Partners
eForm 7-Application for Designated Partners Identification Number
Subscription Sheet
LLP Agreement duly stamped as per relevant Stamp Act of the State.
Proof of Address of Registered Office
Consent of Partners
Next is the filing of Incorporation documents, consent of Partners and declaration electronically through the medium of e-forms prescribed with the Registrar of Companies for incorporation of the LLP on payment of prescribed fees based on the total monetary value of contribution of partners in the proposed LLP.
eForm 2: Incorporation Document
This is an informative document setting down the details of LLP, its Partners including designated partners along with their amount of contribution and consent for forming a Limited Liability Partnership to carry on a lawful business with profit motive along with declaration stating that all the requirements of Limited Liability Partnership Act, 2008 regarding incorporation of LLP in India have been complied with.
eForm 3: Details of LLP Agreement
This form provides for the necessary information in respect to the LLP Agreement entered into between the partners.
eForm 4: Consent of Partners Consent of each partner to become a partner of Limited Liability Partnership along with their address and identity proof to be filed with the Registrar of Companies.
Subscription Sheet: Just like in case of Company formation, the partners are required to subscribe their names along with signatures to the subscription sheet, which shall be witnessed by any chartered Accountant/Company Secretary/Advocate in practice.
In case the subscription sheet is executed outside India, than it must be notarized and consularized, for more information check “Incorporation of LLP” under FAQ’s
eForm 3 & 4 are required to filed within 30 days of the incorporation.
All the eforms will be digitally signed by any Designated partner and shall be certified by an advocate/company secretary/chartered accountant/cost accountant in practice engaged in the formation of LLP.
Key points:
Filling will be done on www.llp.gov.in
Designated Partner who would be signing all the forms need to register as business user
Digital Signature (DSC) is necessary for registering as Business user
LLP portal does not accept DSC from token at time of registration as business user, you need to export the public key of the DSC on the system and register the same. To know more, check out the Digital Signatures under FAQ’s
•
Step VI Certificate of Incorporation
After the Registrar is satisfied that all the formalities with respect to the incorporation has been complied , he will issue a Certificate of Incorporation as to formation of the LLP within maximum of 14 days from date of filing of documents . The Certificate of Incorporation issued shall be the conclusive evidence of formation of the LLP.
Documents Required:
eForm 1-Name Availability Application
eForm 2-Incorporation Document
eForm 3- Details of LLP Agreement
eForm 4-Consent of Partners
eForm 7-Application for Designated Partners Identification Number
Subscription Sheet
LLP Agreement duly stamped as per relevant Stamp Act of the State.
Proof of Address of Registered Office
Consent of Partners
After the Registrar is satisfied that all the formalities with respect to the incorporation has been complied , he will issue a Certificate of Incorporation as to formation of the LLP within maximum of 14 days from date of filing of documents . The Certificate of Incorporation issued shall be the conclusive evidence of formation of the LLP.
Documents Required:
eForm 1-Name Availability Application
eForm 2-Incorporation Document
eForm 3- Details of LLP Agreement
eForm 4-Consent of Partners
eForm 7-Application for Designated Partners Identification Number
Subscription Sheet
LLP Agreement duly stamped as per relevant Stamp Act of the State.
Proof of Address of Registered Office
Consent of Partners
Designated Partner Identification Number (DPIN): Section 7 (6) of LLP Act 2008, provides that every Designated Partner to obtain a DPIN from the Central Government.
DPIN is an eight digit numeric number allotted by the Central Government in order to identify a particular partner and can be obtained by making an online application in eForm 7 to Central Government and submitting the physical application along with necessary identity and Address proof of the person applying with prescribed fees.
Digital Signature Certificate: As all the documents and forms required for incorporating an LLP in India to be filed electronically and under the signatures of Designated Partners, thus atleast one Designated Partner to obtain the digital signature certificates from government recognized DSA’s. The signatures shall also be required for signing and filing of all relevant forms and documents to be filed, annually or event based after incorporation of the LLP, asking for approvals or as intimation.
Likewise the manual signatures, digital signature certificates are individual specific and no partner needs to obtain more than one.
•
Step III Checking the Name Availability
The next step is to decide the name for the proposed LLP to be incorporated, anyone intending to incorporate an LLP has to evaluate his proposed name under the prescribed parameters and make an application in Form 1of Rule 18(5) of the Limited Liability Partnership Act 2008, for reservation of the desired name.
The name of the limited liability partnership shall not be similar or identical with Company or LLP already registered in India and it should not contains words prohibited under the ‘Emblems and Names (Prevention of improper use) Act, 1950’or which are also not ‘Undesirable’ in the opinion of Central Government or which satisfies the conditions prescribed under rule 18(2). For more information check Name Availability Guidelines.
In case any Body Corporate is partner, copy of Board resolution authorizing the incorporation of LLP shall be attached
Undesirable Names- Connote
If in the opinion of the department, the name by which a Company is registered gives so misleading an indication of the nature of its activities as to be likely to cause harm to the public, the department may direct it to change its name. A Company registered under the Companies Act, is not entitled to carry on its business in such a way or under such a name, as to represent that its business is the business of any other company or firm or person; and the absence of fraud is immaterial. In such cases, the old company or firm can apply to the court for an injunction, and in such cases the principles that apply to individuals trading under identical or similar names would become applicable.
•
Step IV Drafting of LLP Agreement
The next pertinent step is drafting of Limited Liability Partnership Agreement governing the mutual rights and duties among the partners and among the LLP and its partners.
The basic contents of Agreement are:
Name of LLP
Name of Partners & Designated Partners
Form of contribution
Profit Sharing ratio
Rights & Duties of Partners
Proposed Business
Rules for governing the LLP
In case no agreement is entered into, the rights & duties as prescribed under Schedule I to the LLP Act shall be applicable
It is not necessary to have the LLP Agreement signed at the time of incorporation, as the details of the same needs to field in eform 3 within 30 days of incorporation but in order to avoid any dispute between the partners as to the terms & conditions of the agreement after the formation of LLP, it is always beneficial to have the LLP Agreement drafted and executed before the incorporation of the LLP.
In case the Agreement is executed outside India, than it must be notarized and consularized, for more information check “Incorporation of LLP” under FAQ’s
•
Step V Filing of Incorporation Documents
Next is the filing of Incorporation documents, consent of Partners and declaration electronically through the medium of e-forms prescribed with the Registrar of Companies for incorporation of the LLP on payment of prescribed fees based on the total monetary value of contribution of partners in the proposed LLP.
eForm 2: Incorporation Document
This is an informative document setting down the details of LLP, its Partners including designated partners along with their amount of contribution and consent for forming a Limited Liability Partnership to carry on a lawful business with profit motive along with declaration stating that all the requirements of Limited Liability Partnership Act, 2008 regarding incorporation of LLP in India have been complied with.
eForm 3: Details of LLP Agreement
This form provides for the necessary information in respect to the LLP Agreement entered into between the partners.
eForm 4: Consent of Partners Consent of each partner to become a partner of Limited Liability Partnership along with their address and identity proof to be filed with the Registrar of Companies.
Subscription Sheet: Just like in case of Company formation, the partners are required to subscribe their names along with signatures to the subscription sheet, which shall be witnessed by any chartered Accountant/Company Secretary/Advocate in practice.
In case the subscription sheet is executed outside India, than it must be notarized and consularized, for more information check “Incorporation of LLP” under FAQ’s
eForm 3 & 4 are required to filed within 30 days of the incorporation.
All the eforms will be digitally signed by any Designated partner and shall be certified by an advocate/company secretary/chartered accountant/cost accountant in practice engaged in the formation of LLP.
Key points:
Filling will be done on www.llp.gov.in
Designated Partner who would be signing all the forms need to register as business user
Digital Signature (DSC) is necessary for registering as Business user
LLP portal does not accept DSC from token at time of registration as business user, you need to export the public key of the DSC on the system and register the same. To know more, check out the Digital Signatures under FAQ’s
•
Step VI Certificate of Incorporation
After the Registrar is satisfied that all the formalities with respect to the incorporation has been complied , he will issue a Certificate of Incorporation as to formation of the LLP within maximum of 14 days from date of filing of documents . The Certificate of Incorporation issued shall be the conclusive evidence of formation of the LLP.
Documents Required:
eForm 1-Name Availability Application
eForm 2-Incorporation Document
eForm 3- Details of LLP Agreement
eForm 4-Consent of Partners
eForm 7-Application for Designated Partners Identification Number
Subscription Sheet
LLP Agreement duly stamped as per relevant Stamp Act of the State.
Proof of Address of Registered Office
Consent of Partners
•
Step I Deciding the Partners and Designated Partners
A LLP can be incorporated with a minimum of atleast two partners who can be Individuals or Body Corporate through their nominees. Further for incorporating an LLP, of the total number no. of partners, atleast two shall be Designated Partners, of which atleast one must be an Indian Resident.
Parameters for deciding the Partners and Designated Partners:
Atleast Two Partners; Individuals or Body Corporate through individual nominees.
Minimum of Two Individuals as Designated Partners, of total no. of Partners.
Atleast One Designated Partner to be Resident Indian.
A person ‘Resident in India’ means a person who has stayed in India for a period of not less than one hundred and eighty two days during the immediately preceding one year. (Explanation to Section-7())
‘Designated Partner’ means a partner who is designated as such in the incorporation documents or who become a designated partner by and in accordance with the Limited Liability Partnership Agreement
•
Step II Obtaining DPIN No. & Digital Signature
Designated Partner Identification Number (DPIN): Section 7 (6) of LLP Act 2008, provides that every Designated Partner to obtain a DPIN from the Central Government.
DPIN is an eight digit numeric number allotted by the Central Government in order to identify a particular partner and can be obtained by making an online application in eForm 7 to Central Government and submitting the physical application along with necessary identity and Address proof of the person applying with prescribed fees.
Digital Signature Certificate: As all the documents and forms required for incorporating an LLP in India to be filed electronically and under the signatures of Designated Partners, thus atleast one Designated Partner to obtain the digital signature certificates from government recognized DSA’s. The signatures shall also be required for signing and filing of all relevant forms and documents to be filed, annually or event based after incorporation of the LLP, asking for approvals or as intimation.
Likewise the manual signatures, digital signature certificates are individual specific and no partner needs to obtain more than one.
•
Step III Checking the Name Availability
The next step is to decide the name for the proposed LLP to be incorporated, anyone intending to incorporate an LLP has to evaluate his proposed name under the prescribed parameters and make an application in Form 1of Rule 18(5) of the Limited Liability Partnership Act 2008, for reservation of the desired name.
The name of the limited liability partnership shall not be similar or identical with Company or LLP already registered in India and it should not contains words prohibited under the ‘Emblems and Names (Prevention of improper use) Act, 1950’or which are also not ‘Undesirable’ in the opinion of Central Government or which satisfies the conditions prescribed under rule 18(2). For more information check Name Availability Guidelines.
In case any Body Corporate is partner, copy of Board resolution authorizing the incorporation of LLP shall be attached
Undesirable Names- Connote
If in the opinion of the department, the name by which a Company is registered gives so misleading an indication of the nature of its activities as to be likely to cause harm to the public, the department may direct it to change its name. A Company registered under the Companies Act, is not entitled to carry on its business in such a way or under such a name, as to represent that its business is the business of any other company or firm or person; and the absence of fraud is immaterial. In such cases, the old company or firm can apply to the court for an injunction, and in such cases the principles that apply to individuals trading under identical or similar names would become applicable.
•
Step IV Drafting of LLP Agreement
The next pertinent step is drafting of Limited Liability Partnership Agreement governing the mutual rights and duties among the partners and among the LLP and its partners.
The basic contents of Agreement are:
Name of LLP
Name of Partners & Designated Partners
Form of contribution
Profit Sharing ratio
Rights & Duties of Partners
Proposed Business
Rules for governing the LLP
In case no agreement is entered into, the rights & duties as prescribed under Schedule I to the LLP Act shall be applicable
It is not necessary to have the LLP Agreement signed at the time of incorporation, as the details of the same needs to field in eform 3 within 30 days of incorporation but in order to avoid any dispute between the partners as to the terms & conditions of the agreement after the formation of LLP, it is always beneficial to have the LLP Agreement drafted and executed before the incorporation of the LLP.
In case the Agreement is executed outside India, than it must be notarized and consularized, for more information check “Incorporation of LLP” under FAQ’s
•
Step V Filing of Incorporation Documents
Next is the filing of Incorporation documents, consent of Partners and declaration electronically through the medium of e-forms prescribed with the Registrar of Companies for incorporation of the LLP on payment of prescribed fees based on the total monetary value of contribution of partners in the proposed LLP.
eForm 2: Incorporation Document
This is an informative document setting down the details of LLP, its Partners including designated partners along with their amount of contribution and consent for forming a Limited Liability Partnership to carry on a lawful business with profit motive along with declaration stating that all the requirements of Limited Liability Partnership Act, 2008 regarding incorporation of LLP in India have been complied with.
eForm 3: Details of LLP Agreement
This form provides for the necessary information in respect to the LLP Agreement entered into between the partners.
eForm 4: Consent of Partners Consent of each partner to become a partner of Limited Liability Partnership along with their address and identity proof to be filed with the Registrar of Companies.
Subscription Sheet: Just like in case of Company formation, the partners are required to subscribe their names along with signatures to the subscription sheet, which shall be witnessed by any chartered Accountant/Company Secretary/Advocate in practice.
In case the subscription sheet is executed outside India, than it must be notarized and consularized, for more information check “Incorporation of LLP” under FAQ’s
eForm 3 & 4 are required to filed within 30 days of the incorporation.
All the eforms will be digitally signed by any Designated partner and shall be certified by an advocate/company secretary/chartered accountant/cost accountant in practice engaged in the formation of LLP.
Key points:
Filling will be done on www.llp.gov.in
DesignaThe next pertinent step is drafting of Limited Liability Partnership Agreement governing the mutual rights and duties among the partners and among the LLP and its partners.
The basic contents of Agreement are:
Name of LLP
Name of Partners & Designated Partners
Form of contribution
Profit Sharing ratio
Rights & Duties of Partners
Proposed Business
Rules for governing the LLP
In case no agreement is entered into, the rights & duties as prescribed under Schedule I to the LLP Act shall be applicable
It is not necessary to have the LLP Agreement signed at the time of incorporation, as the details of the same needs to field in eform 3 within 30 days of incorporation but in order to avoid any dispute between the partners as to the terms & conditions of the agreement after the formation of LLP, it is always beneficial to have the LLP Agreement drafted and executed before the incorporation of the LLP.
In case the Agreement is executed outside India, than it must be notarized and consularized, for more information check “Incorporation of LLP” under FAQ’s
ted Partner who would be signing all the forms need to register as business user
Digital Signature (DSC) is necessary for registering as Business user
LLP portal does not accept DSC from token at time of registration as business user, you need to export the public key of the DSC on the system and register the same. To know more, check out the Digital Signatures under FAQ’s
•
Step VI Certificate of Incorporation
After the Registrar is satisfied that all the formalities with respect to the incorporation has been complied , he will issue a Certificate of Incorporation as to formation of the LLP within maximum of 14 days from date of filing of documents . The Certificate of Incorporation issued shall be the conclusive evidence of formation of the LLP.
Documents Required:
eForm 1-Name Availability Application
eForm 2-Incorporation Document
eForm 3- Details of LLP Agreement
eForm 4-Consent of Partners
eForm 7-Application for Designated Partners Identification Number
Subscription Sheet
LLP Agreement duly stamped as per relevant Stamp Act of the State.
Proof of Address of Registered Office
Consent of Partners
Next is the filing of Incorporation documents, consent of Partners and declaration electronically through the medium of e-forms prescribed with the Registrar of Companies for incorporation of the LLP on payment of prescribed fees based on the total monetary value of contribution of partners in the proposed LLP.
eForm 2: Incorporation Document
This is an informative document setting down the details of LLP, its Partners including designated partners along with their amount of contribution and consent for forming a Limited Liability Partnership to carry on a lawful business with profit motive along with declaration stating that all the requirements of Limited Liability Partnership Act, 2008 regarding incorporation of LLP in India have been complied with.
eForm 3: Details of LLP Agreement
This form provides for the necessary information in respect to the LLP Agreement entered into between the partners.
eForm 4: Consent of Partners Consent of each partner to become a partner of Limited Liability Partnership along with their address and identity proof to be filed with the Registrar of Companies.
Subscription Sheet: Just like in case of Company formation, the partners are required to subscribe their names along with signatures to the subscription sheet, which shall be witnessed by any chartered Accountant/Company Secretary/Advocate in practice.
In case the subscription sheet is executed outside India, than it must be notarized and consularized, for more information check “Incorporation of LLP” under FAQ’s
eForm 3 & 4 are required to filed within 30 days of the incorporation.
All the eforms will be digitally signed by any Designated partner and shall be certified by an advocate/company secretary/chartered accountant/cost accountant in practice engaged in the formation of LLP.
Key points:
Filling will be done on www.llp.gov.in
Designated Partner who would be signing all the forms need to register as business user
Digital Signature (DSC) is necessary for registering as Business user
LLP portal does not accept DSC from token at time of registration as business user, you need to export the public key of the DSC on the system and register the same. To know more, check out the Digital Signatures under FAQ’s
•
Step VI Certificate of Incorporation
After the Registrar is satisfied that all the formalities with respect to the incorporation has been complied , he will issue a Certificate of Incorporation as to formation of the LLP within maximum of 14 days from date of filing of documents . The Certificate of Incorporation issued shall be the conclusive evidence of formation of the LLP.
Documents Required:
eForm 1-Name Availability Application
eForm 2-Incorporation Document
eForm 3- Details of LLP Agreement
eForm 4-Consent of Partners
eForm 7-Application for Designated Partners Identification Number
Subscription Sheet
LLP Agreement duly stamped as per relevant Stamp Act of the State.
Proof of Address of Registered Office
Consent of Partners
After the Registrar is satisfied that all the formalities with respect to the incorporation has been complied , he will issue a Certificate of Incorporation as to formation of the LLP within maximum of 14 days from date of filing of documents . The Certificate of Incorporation issued shall be the conclusive evidence of formation of the LLP.
Documents Required:
eForm 1-Name Availability Application
eForm 2-Incorporation Document
eForm 3- Details of LLP Agreement
eForm 4-Consent of Partners
eForm 7-Application for Designated Partners Identification Number
Subscription Sheet
LLP Agreement duly stamped as per relevant Stamp Act of the State.
Proof of Address of Registered Office
Consent of Partners
Designated Partner Identification Number (DPIN): Section 7 (6) of LLP Act 2008, provides that every Designated Partner to obtain a DPIN from the Central Government.
DPIN is an eight digit numeric number allotted by the Central Government in order to identify a particular partner and can be obtained by making an online application in eForm 7 to Central Government and submitting the physical application along with necessary identity and Address proof of the person applying with prescribed fees.
Digital Signature Certificate: As all the documents and forms required for incorporating an LLP in India to be filed electronically and under the signatures of Designated Partners, thus atleast one Designated Partner to obtain the digital signature certificates from government recognized DSA’s. The signatures shall also be required for signing and filing of all relevant forms and documents to be filed, annually or event based after incorporation of the LLP, asking for approvals or as intimation.
Likewise the manual signatures, digital signature certificates are individual specific and no partner needs to obtain more than one.
•
Step III Checking the Name Availability
The next step is to decide the name for the proposed LLP to be incorporated, anyone intending to incorporate an LLP has to evaluate his proposed name under the prescribed parameters and make an application in Form 1of Rule 18(5) of the Limited Liability Partnership Act 2008, for reservation of the desired name.
The name of the limited liability partnership shall not be similar or identical with Company or LLP already registered in India and it should not contains words prohibited under the ‘Emblems and Names (Prevention of improper use) Act, 1950’or which are also not ‘Undesirable’ in the opinion of Central Government or which satisfies the conditions prescribed under rule 18(2). For more information check Name Availability Guidelines.
In case any Body Corporate is partner, copy of Board resolution authorizing the incorporation of LLP shall be attached
Undesirable Names- Connote
If in the opinion of the department, the name by which a Company is registered gives so misleading an indication of the nature of its activities as to be likely to cause harm to the public, the department may direct it to change its name. A Company registered under the Companies Act, is not entitled to carry on its business in such a way or under such a name, as to represent that its business is the business of any other company or firm or person; and the absence of fraud is immaterial. In such cases, the old company or firm can apply to the court for an injunction, and in such cases the principles that apply to individuals trading under identical or similar names would become applicable.
•
Step IV Drafting of LLP Agreement
The next pertinent step is drafting of Limited Liability Partnership Agreement governing the mutual rights and duties among the partners and among the LLP and its partners.
The basic contents of Agreement are:
Name of LLP
Name of Partners & Designated Partners
Form of contribution
Profit Sharing ratio
Rights & Duties of Partners
Proposed Business
Rules for governing the LLP
In case no agreement is entered into, the rights & duties as prescribed under Schedule I to the LLP Act shall be applicable
It is not necessary to have the LLP Agreement signed at the time of incorporation, as the details of the same needs to field in eform 3 within 30 days of incorporation but in order to avoid any dispute between the partners as to the terms & conditions of the agreement after the formation of LLP, it is always beneficial to have the LLP Agreement drafted and executed before the incorporation of the LLP.
In case the Agreement is executed outside India, than it must be notarized and consularized, for more information check “Incorporation of LLP” under FAQ’s
•
Step V Filing of Incorporation Documents
Next is the filing of Incorporation documents, consent of Partners and declaration electronically through the medium of e-forms prescribed with the Registrar of Companies for incorporation of the LLP on payment of prescribed fees based on the total monetary value of contribution of partners in the proposed LLP.
eForm 2: Incorporation Document
This is an informative document setting down the details of LLP, its Partners including designated partners along with their amount of contribution and consent for forming a Limited Liability Partnership to carry on a lawful business with profit motive along with declaration stating that all the requirements of Limited Liability Partnership Act, 2008 regarding incorporation of LLP in India have been complied with.
eForm 3: Details of LLP Agreement
This form provides for the necessary information in respect to the LLP Agreement entered into between the partners.
eForm 4: Consent of Partners Consent of each partner to become a partner of Limited Liability Partnership along with their address and identity proof to be filed with the Registrar of Companies.
Subscription Sheet: Just like in case of Company formation, the partners are required to subscribe their names along with signatures to the subscription sheet, which shall be witnessed by any chartered Accountant/Company Secretary/Advocate in practice.
In case the subscription sheet is executed outside India, than it must be notarized and consularized, for more information check “Incorporation of LLP” under FAQ’s
eForm 3 & 4 are required to filed within 30 days of the incorporation.
All the eforms will be digitally signed by any Designated partner and shall be certified by an advocate/company secretary/chartered accountant/cost accountant in practice engaged in the formation of LLP.
Key points:
Filling will be done on www.llp.gov.in
Designated Partner who would be signing all the forms need to register as business user
Digital Signature (DSC) is necessary for registering as Business user
LLP portal does not accept DSC from token at time of registration as business user, you need to export the public key of the DSC on the system and register the same. To know more, check out the Digital Signatures under FAQ’s
•
Step VI Certificate of Incorporation
After the Registrar is satisfied that all the formalities with respect to the incorporation has been complied , he will issue a Certificate of Incorporation as to formation of the LLP within maximum of 14 days from date of filing of documents . The Certificate of Incorporation issued shall be the conclusive evidence of formation of the LLP.
Documents Required:
eForm 1-Name Availability Application
eForm 2-Incorporation Document
eForm 3- Details of LLP Agreement
eForm 4-Consent of Partners
eForm 7-Application for Designated Partners Identification Number
Subscription Sheet
LLP Agreement duly stamped as per relevant Stamp Act of the State.
Proof of Address of Registered Office
Consent of Partners
How to Incorporate a New Limited Liability Partnership
A Limited Liability Partnership may be incorporated as per the procedure explained below:
User Registration
· Register yourself on the website of Ministry of Corporate Affairs, developed for LLP services, i.e. www.llp.gov.in . This website may also be accessed through the website of the ministry www.mca.gov.in On the home page of the URL www.llp.gov.in click “Register” tab on top right hand corner of the page.
· Fill in the registration form. Fields marked * in the form are to be mandatorily filled. Select your user name and password.
· Upload digital signature certificate
· On successful registration, system will give a message that you have been registered successfully.
Obtain Designated Partners Identification Number (DPIN).
· All designated partners of the proposed LLP shall obtain “Designated Partner Identification Number (DPIN)” by filing an application individually online in Form -7.
· For obtaining DPIN kindly log in by clicking on the “Login” tab on top right corner of the home page, enter your user name and password. After login, click on the E-forms link. List of e-forms will open. Click and open Form 7.
· Fill up “Form 7” for allotment of DPIN
· Pay filing fee of Rs.100 online through credit card (master/visa)
· Submit the application form online. The system will generate a provisional DPIN. Kindly note it carefully
· Take the print out of the application form, affix a latest passport size photograph and get it attested/certified for submission physically along with documentary evidences for proof of identify and proof of residence with the Registrar LLP.
· Deliver the printed and signed application form, along with the prescribed documents by hand/courier/registered post to the Office of Registrar, Ministry of Corporate Affairs, 3rd Floor, “Paryavaran Bhawan”, CGO Complex, Lodhi Road, New Delhi-110003.
· For more details see Instruction Kit provided on the home page under “Users Guide” tab.
Digital Signature Certificate
· Partner/Designated partner of LLP/proposed LLP, whose signatures are to be affixed on the e-forms has to obtain class 2 or class 3 Digital Signature Certificate (DSC) from any authorized certifying agency, details of which are available on the home page of the llp portal under the tab “Certifying Authorities”.
Reservation of name
· Log on to the LLP portal by clicking the “log in” tab on the top right corner of the homepage and enter your username and password. After login, click “E-Forms” link.
· Open Form-1 for reservation of name and fill in the details. Select name of the proposed LLP (upto 6 choices can be indicated).
· Any partner or designated partner in the proposed LLP may submit Form-1.
· Append digital signatures and submit the e-form
· Pay the necessary fee by credit card (master/visa).
· Free name search facility (of existing companies / LLPs) is available on MCA portal (hyper link available on LLP portal).The system will provide the list of similar/closely resembling names of existing companies/LLPs based on the search criteria filled up.
· Details of minimum two designated partners of the proposed LLP, one of them must be a resident of India, is required to be filled in the application for reservation of name. Only individuals or nominees on behalf of the bodies corporate as partners can act as designated partners.
· Check status of your application by logging on the portal.
· For more details see Instruction Kit provided on the home page under “Users Guide” tab.
Incorporation of LLP
· Once the name is reserved by the Registrar, log on to the portal and fill up Form-2 “Incorporation Document and Statement”.
· Pay the prescribed registration fee as per the slab given in Annexure A of the LLP Rules, 2009, based on the total monetary value of contribution of partners in the proposed LLP.
· Statement in the e-form is to be digitally signed by a person named in the incorporation document as a designated partner having permanent DPIN and also to be digitally signed by an advocate/company secretary/chartered accountant/cost accountant in practice and engaged in the formation of LLP.
· On submission of complete documents the Registrar after satisfying himself about compliance with relevant provisions of the LLP Act will register the LLP, maximum within 14 days of filing of Form-2 and will issue a certificate of incorporation in Form-16.
· You can check status of your application by logging on to the portal
· For more details see Instruction Kit provided on the home page under “Instruction Kit” tab.
Filing of LLP agreement (Form-3) and Partners’ details (Form-4)
· Form 3 (Information with regard to LLP agreement and changes, if any made therein) and Form-4 (Notice of Appointment of Partner/Designate Partner, his consent etc.) may be filed with the prescribed fee simultaneously at the time of filing Form-2 or within 30 days of the date of incorporation or within 30 days of such subsequent changes.
· For more details see Instruction Kit provided on the home page under “Instruction Kit” tab.
User Registration
· Register yourself on the website of Ministry of Corporate Affairs, developed for LLP services, i.e. www.llp.gov.in . This website may also be accessed through the website of the ministry www.mca.gov.in On the home page of the URL www.llp.gov.in click “Register” tab on top right hand corner of the page.
· Fill in the registration form. Fields marked * in the form are to be mandatorily filled. Select your user name and password.
· Upload digital signature certificate
· On successful registration, system will give a message that you have been registered successfully.
Obtain Designated Partners Identification Number (DPIN).
· All designated partners of the proposed LLP shall obtain “Designated Partner Identification Number (DPIN)” by filing an application individually online in Form -7.
· For obtaining DPIN kindly log in by clicking on the “Login” tab on top right corner of the home page, enter your user name and password. After login, click on the E-forms link. List of e-forms will open. Click and open Form 7.
· Fill up “Form 7” for allotment of DPIN
· Pay filing fee of Rs.100 online through credit card (master/visa)
· Submit the application form online. The system will generate a provisional DPIN. Kindly note it carefully
· Take the print out of the application form, affix a latest passport size photograph and get it attested/certified for submission physically along with documentary evidences for proof of identify and proof of residence with the Registrar LLP.
· Deliver the printed and signed application form, along with the prescribed documents by hand/courier/registered post to the Office of Registrar, Ministry of Corporate Affairs, 3rd Floor, “Paryavaran Bhawan”, CGO Complex, Lodhi Road, New Delhi-110003.
· For more details see Instruction Kit provided on the home page under “Users Guide” tab.
Digital Signature Certificate
· Partner/Designated partner of LLP/proposed LLP, whose signatures are to be affixed on the e-forms has to obtain class 2 or class 3 Digital Signature Certificate (DSC) from any authorized certifying agency, details of which are available on the home page of the llp portal under the tab “Certifying Authorities”.
Reservation of name
· Log on to the LLP portal by clicking the “log in” tab on the top right corner of the homepage and enter your username and password. After login, click “E-Forms” link.
· Open Form-1 for reservation of name and fill in the details. Select name of the proposed LLP (upto 6 choices can be indicated).
· Any partner or designated partner in the proposed LLP may submit Form-1.
· Append digital signatures and submit the e-form
· Pay the necessary fee by credit card (master/visa).
· Free name search facility (of existing companies / LLPs) is available on MCA portal (hyper link available on LLP portal).The system will provide the list of similar/closely resembling names of existing companies/LLPs based on the search criteria filled up.
· Details of minimum two designated partners of the proposed LLP, one of them must be a resident of India, is required to be filled in the application for reservation of name. Only individuals or nominees on behalf of the bodies corporate as partners can act as designated partners.
· Check status of your application by logging on the portal.
· For more details see Instruction Kit provided on the home page under “Users Guide” tab.
Incorporation of LLP
· Once the name is reserved by the Registrar, log on to the portal and fill up Form-2 “Incorporation Document and Statement”.
· Pay the prescribed registration fee as per the slab given in Annexure A of the LLP Rules, 2009, based on the total monetary value of contribution of partners in the proposed LLP.
· Statement in the e-form is to be digitally signed by a person named in the incorporation document as a designated partner having permanent DPIN and also to be digitally signed by an advocate/company secretary/chartered accountant/cost accountant in practice and engaged in the formation of LLP.
· On submission of complete documents the Registrar after satisfying himself about compliance with relevant provisions of the LLP Act will register the LLP, maximum within 14 days of filing of Form-2 and will issue a certificate of incorporation in Form-16.
· You can check status of your application by logging on to the portal
· For more details see Instruction Kit provided on the home page under “Instruction Kit” tab.
Filing of LLP agreement (Form-3) and Partners’ details (Form-4)
· Form 3 (Information with regard to LLP agreement and changes, if any made therein) and Form-4 (Notice of Appointment of Partner/Designate Partner, his consent etc.) may be filed with the prescribed fee simultaneously at the time of filing Form-2 or within 30 days of the date of incorporation or within 30 days of such subsequent changes.
· For more details see Instruction Kit provided on the home page under “Instruction Kit” tab.
Requirements for becoming a chartered accountant
New Scheme at a Glance
Requirements for becoming a chartered accountant
Under the new scheme, the requirements for becoming chartered accountant are as follows:
(i) Enrol with the Institute for Common Proficiency Test after passing Class 10 examination
conducted by an examining body constituted by law in India or an examination recognized
by the Central Government as equivalent thereto.
(ii) Appear CPT examination after appearing in the Senior Secondary Examination (10+2
examination) conducted by an examining body constituted by law in India or an
examination recognised by the Central Government as equivalent thereto and after
completion of specified period (i.e. 60 days) from the date of registration for CPT prior to
the first day of the month in which examination to be held with the Board of Studies.
(iii) Join PCC, articled training and register for 100 hours ITT after passing CPT and 10+2
examination.
(iv) Undergo 100 hours ITT on completion of three months of articled training (100 hours ITT
is a 20 days programme @ five hours per day; the training will be treated as part of the
practical training).
(v) Appear in Professional Competence Examination (PCE) If
ƒn ƒn „Xƒn worked for not less than fifteen months as an articled assistant or equivalent
period as an audit assistant or partly as an articled assistant and partly as an
audit assistant, three months prior to the first day of the month in which
examination is held; and
ƒn ƒn „Xƒn completed 100 hours ITT.
Eight months of audit training is treated as equivalent to six months of articled training.
Any fractional period of audit training less than eight months is not counted for this
purpose.
(vi) Join CA Final course:
ƒn ƒn „Yƒn After passing PCE register for Final course with the Board of Studies;
ƒn ƒn „Yƒn Collect Study Materials of the Final Course and prepare for Final Examination;
ƒn ƒn „Yƒn May undergo General Management and Communication Skills Course while
undergoing Final course; and
ƒn ƒn „Yƒn Complete articled training of 3½ years.
(vii) Appear in final examination on completion of the practical training on or before the last
day of the month preceding the month in which the examination is held.
(viii) Pass Final examination and complete GMCS;
(ix) Enrol for membership.
Pass Class 10 examination
Register with the Board of
Studies for Common
Proficiency Test
Simultaneously study and appear in
Senior Secondary Examination
(10+2 Examination)
Appear and Qualify Common Proficiency Test
Register for
Information
Technology
Training
Register for Practical
Training as article/audit
Assistant
Appear and Qualify
Final Examination
Undergo Course on
General Management and
Communications Skills
Is the specified
period after
registration over?*
No
Qualified to become a
Member
Yes
Is 15 months of
Practical Training over
3 months prior to
examinations?
No Yes
Appear and Qualify Professional Competence
Examination
Is 31/2 Years
Practical Training
over?
Yes
New Scheme of Education and Training – At a
Glance
Is Information
Technology
Training Over?
Join Professional
Competence
Course
Join Final
Course
Yes
No
Is Course on
General
Management and
Communications
Skills Over?
Yes
No
Requirements for becoming a chartered accountant
Under the new scheme, the requirements for becoming chartered accountant are as follows:
(i) Enrol with the Institute for Common Proficiency Test after passing Class 10 examination
conducted by an examining body constituted by law in India or an examination recognized
by the Central Government as equivalent thereto.
(ii) Appear CPT examination after appearing in the Senior Secondary Examination (10+2
examination) conducted by an examining body constituted by law in India or an
examination recognised by the Central Government as equivalent thereto and after
completion of specified period (i.e. 60 days) from the date of registration for CPT prior to
the first day of the month in which examination to be held with the Board of Studies.
(iii) Join PCC, articled training and register for 100 hours ITT after passing CPT and 10+2
examination.
(iv) Undergo 100 hours ITT on completion of three months of articled training (100 hours ITT
is a 20 days programme @ five hours per day; the training will be treated as part of the
practical training).
(v) Appear in Professional Competence Examination (PCE) If
ƒn ƒn „Xƒn worked for not less than fifteen months as an articled assistant or equivalent
period as an audit assistant or partly as an articled assistant and partly as an
audit assistant, three months prior to the first day of the month in which
examination is held; and
ƒn ƒn „Xƒn completed 100 hours ITT.
Eight months of audit training is treated as equivalent to six months of articled training.
Any fractional period of audit training less than eight months is not counted for this
purpose.
(vi) Join CA Final course:
ƒn ƒn „Yƒn After passing PCE register for Final course with the Board of Studies;
ƒn ƒn „Yƒn Collect Study Materials of the Final Course and prepare for Final Examination;
ƒn ƒn „Yƒn May undergo General Management and Communication Skills Course while
undergoing Final course; and
ƒn ƒn „Yƒn Complete articled training of 3½ years.
(vii) Appear in final examination on completion of the practical training on or before the last
day of the month preceding the month in which the examination is held.
(viii) Pass Final examination and complete GMCS;
(ix) Enrol for membership.
Pass Class 10 examination
Register with the Board of
Studies for Common
Proficiency Test
Simultaneously study and appear in
Senior Secondary Examination
(10+2 Examination)
Appear and Qualify Common Proficiency Test
Register for
Information
Technology
Training
Register for Practical
Training as article/audit
Assistant
Appear and Qualify
Final Examination
Undergo Course on
General Management and
Communications Skills
Is the specified
period after
registration over?*
No
Qualified to become a
Member
Yes
Is 15 months of
Practical Training over
3 months prior to
examinations?
No Yes
Appear and Qualify Professional Competence
Examination
Is 31/2 Years
Practical Training
over?
Yes
New Scheme of Education and Training – At a
Glance
Is Information
Technology
Training Over?
Join Professional
Competence
Course
Join Final
Course
Yes
No
Is Course on
General
Management and
Communications
Skills Over?
Yes
No
CA COURSE Over view
Common Proficiency Test (CPT)
Common Proficiency Test is an entry level test for Chartered Accountancy Course. It is a test of four
subjects i.e., Accounting, Mercantile Laws, General Economics and Quantitative Aptitude. This test is of 200
marks. This test is divided into two sessions of two hours each with a break in between. CPT is an objective
type test with negative marking.
Subjects to be studied
SESSION – I (Two Sections– Two hours – 100 Marks)
Section A: Fundamentals of Accounting ( 60 Marks )
Section B: Mercantile Laws ( 40 Marks )
SESSION – II (Two Sections– Two hours – 100 Marks)
Section C: General Economics ( 50 Marks )
Section D: Quantitative Aptitude ( 50 Marks )
The Board of Studies has prepared comprehensive study materials covering all four subjects.
Professional Competence Course (PCC)
About the Courses
This is first stage of the chartered accountancy curriculum wherein only working knowledge of core and
allied subjects to accountancy profession is covered, while at the Final course, advanced application
knowledge of core and allied subjects to accountancy profession has been intended to be inculcated.
The unique feature of the entire theoretical education of the Chartered Accountancy curriculum is the
supportive and complementary practical training. A student would undergo theoretical education and
practical training concurrently from the beginning of the first stage of theoretical education. This
balanced approach will help the students to appreciate the underlying practical applications of the
theoretical education scheme.
Neither a stand-alone theory nor a practice without theoretical knowledge would make a professional
successful. Moreover, there is a need to develop proper understanding of the business environment
and information technology which acts as an important business process driver. It is also essential to
sharpen communication skills to be able to work successfully in the competitive business environment.
Subjects covered in PCC
Group I
Paper 1: Advanced Accounting (100 Marks)
Paper 2: Auditing and Assurance (100 Marks)
Paper 3: Law, Ethics and Communication
Part I: Law (60 Marks)
Business Laws (30 Marks)
Company Law (30 Marks)
Part II: Business Ethics (20 Marks)
Part III: Business Communication (20 Marks)
Group II
Paper 4: Cost Accounting and Financial Management
Part I: Cost Accounting (50 marks)
Part II: Financial Management (50 marks)
Paper 5: Taxation
Part I: Income-tax (75 Marks)
Part II: Service Tax and VAT (25 Marks)
Paper 6: Information Technology and Strategic Management
Section A: Information Technology (50 marks)
Section B: Strategic Management (50 marks)
The subjects of PCC are classified into two groups which a student can study and appear in the
examination group-wise or both the groups together.
Professional Competence Course: Highlights
Improved knowledge of accountancy linked to accounting standards to build strong foundation for
developing knowledge of Financial Reporting at the Final stage;
Inculcating ethical values through a module of Business Ethics;
Updated knowledge of business communication through modules of developing soft skill,
leadership style, group dynamics and developing knowledge of business meetings and legal
documents;
Building knowledge of business strategies, business environment and corporate governance;
Introducing Service Tax and VAT as special module with the purpose of strengthening knowledge
of indirect tax;
Upgraded module of Information Technology linked to the 100 Hours Information Technology
Training;
Upgraded modules of Audit and Assurance, Cost Accounting and Financial Management;
Imparting basic knowledge of e-filing under the company law leading to development of advanced
knowledge of e-governance at the final stage.
Final (New) Course
Subjects covered in Final (New) Course
Group I
Paper 1: Financial Reporting (100 Marks)
Paper 2: Strategic Financial Management (100 Marks)
Paper 3: Advanced Auditing and Professional Ethics (100 Marks)
Paper 4: Corporate and Allied Laws (100 Marks)
Section A: Company Law (70 Marks)
Section B: Allied Laws (30 Marks)
Group II
Paper 5: Advanced Management Accounting (100 Marks)
Paper 6: Information Systems Control and Audit (100 Marks)
Paper 7: Direct Tax Laws (100 Marks)
Paper 8: Indirect Tax Laws (100 Marks)
Section A: Central Excise (40 Marks)
Section B: Service Tax & VAT (40 Marks)
Section C: Customs (20 Marks)
Highlights of the new final course:
Financial Reporting: This new subject deals with the whole gamut of financial reporting specially corporate
financial reporting. This subject also focuses on learning of IFRS based financial reporting and US GAAP
based financial reporting. This is aimed at making Indian chartered accountants globally competitive.
Business valuation principles are also covered in this new subject.
Strategic Financial Management: Financial consultancy has become a key functional area of the
chartered accountants. With a view to strengthen this knowledge area, this paper has been introduced.
Special focus of this paper are on Mergers and Acquisitions, Investment Analysis and Portfolio
Management, Financial Derivatives, Commodity Derivatives, Global Sourcing of Capital ADR, GDR and
Foreign Exchange Risk Management.
Advanced Management Accounting: This course has been conceptualised to strengthen the strategic role
of a chartered accountant in an organization as a management consultant. Special focus of this paper is on
Strategic Cost Management including Activity Based Cost Management, Target Costing, Value Chain
Analysis and Restructuring the Value Chain, Transfer Pricing including International Transfer Pricing within
the WTO framework, Financial Modelling using Quantitative Techniques and Cost Management in Service
Sector.
Advanced Auditing and Professional Ethics: The updated version of this course focuses on application
of Audit and Assurance Standards in practical situation and knowledge of Professional Ethics.
Information Systems Control and Audit: This course is formulated with a view to enhance the knowledge
of the Chartered Accountants on relevant aspects of Information Technology and their applications in
accounting, audit and finance. The special focus of this course is on Information System Control
Techniques, Data integrity privacy and security, Risk Assessment Methodologies, Information System
Auditing Standards, Guidelines & Best Practices, and Information Security Policy.
In addition, principle of e-governance has been emphasized in Corporate and Allied Laws, International
Taxation and Value Added Tax are important features of the updated subject contents of Direct Tax Laws
and Indirect Tax Laws respectively.
Common Proficiency Test is an entry level test for Chartered Accountancy Course. It is a test of four
subjects i.e., Accounting, Mercantile Laws, General Economics and Quantitative Aptitude. This test is of 200
marks. This test is divided into two sessions of two hours each with a break in between. CPT is an objective
type test with negative marking.
Subjects to be studied
SESSION – I (Two Sections– Two hours – 100 Marks)
Section A: Fundamentals of Accounting ( 60 Marks )
Section B: Mercantile Laws ( 40 Marks )
SESSION – II (Two Sections– Two hours – 100 Marks)
Section C: General Economics ( 50 Marks )
Section D: Quantitative Aptitude ( 50 Marks )
The Board of Studies has prepared comprehensive study materials covering all four subjects.
Professional Competence Course (PCC)
About the Courses
This is first stage of the chartered accountancy curriculum wherein only working knowledge of core and
allied subjects to accountancy profession is covered, while at the Final course, advanced application
knowledge of core and allied subjects to accountancy profession has been intended to be inculcated.
The unique feature of the entire theoretical education of the Chartered Accountancy curriculum is the
supportive and complementary practical training. A student would undergo theoretical education and
practical training concurrently from the beginning of the first stage of theoretical education. This
balanced approach will help the students to appreciate the underlying practical applications of the
theoretical education scheme.
Neither a stand-alone theory nor a practice without theoretical knowledge would make a professional
successful. Moreover, there is a need to develop proper understanding of the business environment
and information technology which acts as an important business process driver. It is also essential to
sharpen communication skills to be able to work successfully in the competitive business environment.
Subjects covered in PCC
Group I
Paper 1: Advanced Accounting (100 Marks)
Paper 2: Auditing and Assurance (100 Marks)
Paper 3: Law, Ethics and Communication
Part I: Law (60 Marks)
Business Laws (30 Marks)
Company Law (30 Marks)
Part II: Business Ethics (20 Marks)
Part III: Business Communication (20 Marks)
Group II
Paper 4: Cost Accounting and Financial Management
Part I: Cost Accounting (50 marks)
Part II: Financial Management (50 marks)
Paper 5: Taxation
Part I: Income-tax (75 Marks)
Part II: Service Tax and VAT (25 Marks)
Paper 6: Information Technology and Strategic Management
Section A: Information Technology (50 marks)
Section B: Strategic Management (50 marks)
The subjects of PCC are classified into two groups which a student can study and appear in the
examination group-wise or both the groups together.
Professional Competence Course: Highlights
Improved knowledge of accountancy linked to accounting standards to build strong foundation for
developing knowledge of Financial Reporting at the Final stage;
Inculcating ethical values through a module of Business Ethics;
Updated knowledge of business communication through modules of developing soft skill,
leadership style, group dynamics and developing knowledge of business meetings and legal
documents;
Building knowledge of business strategies, business environment and corporate governance;
Introducing Service Tax and VAT as special module with the purpose of strengthening knowledge
of indirect tax;
Upgraded module of Information Technology linked to the 100 Hours Information Technology
Training;
Upgraded modules of Audit and Assurance, Cost Accounting and Financial Management;
Imparting basic knowledge of e-filing under the company law leading to development of advanced
knowledge of e-governance at the final stage.
Final (New) Course
Subjects covered in Final (New) Course
Group I
Paper 1: Financial Reporting (100 Marks)
Paper 2: Strategic Financial Management (100 Marks)
Paper 3: Advanced Auditing and Professional Ethics (100 Marks)
Paper 4: Corporate and Allied Laws (100 Marks)
Section A: Company Law (70 Marks)
Section B: Allied Laws (30 Marks)
Group II
Paper 5: Advanced Management Accounting (100 Marks)
Paper 6: Information Systems Control and Audit (100 Marks)
Paper 7: Direct Tax Laws (100 Marks)
Paper 8: Indirect Tax Laws (100 Marks)
Section A: Central Excise (40 Marks)
Section B: Service Tax & VAT (40 Marks)
Section C: Customs (20 Marks)
Highlights of the new final course:
Financial Reporting: This new subject deals with the whole gamut of financial reporting specially corporate
financial reporting. This subject also focuses on learning of IFRS based financial reporting and US GAAP
based financial reporting. This is aimed at making Indian chartered accountants globally competitive.
Business valuation principles are also covered in this new subject.
Strategic Financial Management: Financial consultancy has become a key functional area of the
chartered accountants. With a view to strengthen this knowledge area, this paper has been introduced.
Special focus of this paper are on Mergers and Acquisitions, Investment Analysis and Portfolio
Management, Financial Derivatives, Commodity Derivatives, Global Sourcing of Capital ADR, GDR and
Foreign Exchange Risk Management.
Advanced Management Accounting: This course has been conceptualised to strengthen the strategic role
of a chartered accountant in an organization as a management consultant. Special focus of this paper is on
Strategic Cost Management including Activity Based Cost Management, Target Costing, Value Chain
Analysis and Restructuring the Value Chain, Transfer Pricing including International Transfer Pricing within
the WTO framework, Financial Modelling using Quantitative Techniques and Cost Management in Service
Sector.
Advanced Auditing and Professional Ethics: The updated version of this course focuses on application
of Audit and Assurance Standards in practical situation and knowledge of Professional Ethics.
Information Systems Control and Audit: This course is formulated with a view to enhance the knowledge
of the Chartered Accountants on relevant aspects of Information Technology and their applications in
accounting, audit and finance. The special focus of this course is on Information System Control
Techniques, Data integrity privacy and security, Risk Assessment Methodologies, Information System
Auditing Standards, Guidelines & Best Practices, and Information Security Policy.
In addition, principle of e-governance has been emphasized in Corporate and Allied Laws, International
Taxation and Value Added Tax are important features of the updated subject contents of Direct Tax Laws
and Indirect Tax Laws respectively.
CA-Bank Audit Eligibility
THE CHARTERED ACCOUNTANT APRIL 2003 1023
IMPORTANT ANNOUNCEMENT:-
All requests received from other authorities/entities
(including the Central/State Government Departments,
Registrars of Co-operative Societies of various
States etc.) for submitting panels/lists would be met
out of the above panel and therefore, in order to be
included in all such panels/lists, members/firms
should ensure that they do apply for this panel.
This form is to be filled up by a Chartered Accountant (a)
practising in his individual name or (b) sole proprietor or
(c) a partnership firm, who is interested in being empanelled
as statutory auditor for branches of 27 public sector
banks or for statutory central and branch audit of RRBs
and other authorities. Detailed instructions, general
information and common errors found in the applications
submitted in earlier years, as detailed below, should
be studied carefully and followed in filling up the form.
The form should be sent in duplicate* by
Registered AD Post or Courier or Speed Post or per
bearer so as to reach at the following address on or
before April 30, 2003:
The Chairman,
Professional Development Committee,
The Institute of Chartered Accountants of India,
‘Anveshak’, 27, Cuffe Parade, Colaba, P.B. No. 6081,
Mumbai-400005
Instructions
(1) Annexures `A’ to `P’ are integral to the application and
therefore, must be filled up strictly in the manner required.
(2) The information to be furnished must be printed or
typewritten. However, in the boxes, ticking can be
done by hand.
Clarifications :- The application may be printed on
computer. However, it should be identical in all respects
to the original form and no changes are permitted.
(3) If the space provided in the application form is not
found sufficient, please get the form typed on a separate
sheet with all the columns and fill in the same. It
must be ensured that the typed version is exactly the
same as this application form.
In case the applicant is having more than two branches
in/outside India, please attach (with Annexure C) extra
sheets containing the details of such branches in the
same format as required in Annexure C of this form.
(4) While mentioning the `Concern name’, do not use the
prefix M/s, Mr, Mrs. etc.
(5) Boxes have been provided in the columns of the
form. Please tick/fill up the appropriate box. Where
there is no box, please furnish the details required.
(6) The members/firms should give the particulars in the
form on the basis of the constitution of the firm and
the staff position as on January 1, 2003.
(7) Where the application is made by a member practising
in his individual name, any reference in the application
form to `proprietor’/`concern’ would be construed
as referring to such individual member and all
the relevant details should be furnished accordingly.
(8) The word `Experience’ of partners/proprietor wherever
it occurs in the application form means the total
experience of the partner/proprietor in audit and
also includes such experience gained by him/her
while associated with other concerns as partner or
proprietor or while practising as an individual. In
other words, such experience is not limited to that
obtained during the association of the partner/proprietor
with the applicant concern only. It may also
be noted that experience in capacity as articled/audit
clerk/paid assistant should not be mentioned.
(9) (i) The application should be sent in duplicate*
by Registered AD post or per bearer or
Courier or Speed Post at the address given above.
(ii) The original must be accompanied by documents
required under Part IV. The duplicate copy of
the form may be a photocopy. Both the copies of the
application should be sent only in one cover superscribing
on it in red ink the words- "APPLICATION
FOR EMPANELMENT OF AUDITORS
FOR BANK BRANCHES/ RRBs/OTHER
AUTHORITIES FOR THE YEAR 2003-2004".
Application For Empanelment Of Auditors
For (i) Statutory Audit of branches of 27 Public Sector Banks (ii) Statutory Central And Branch
Audit of Regional Rural Banks (RRBs) and (iii) other authorities, for the year 2003-2004
(This form is also available at the website : www.icai.org)
* The documents required under Part IV are to be attached with the original application only.
THE CHARTERED ACCOUNTANT APRIL 2003 1024
The applicants must ensure that all the columns in the
application form are filled in properly. They should
indicate against each column the necessary information
categorically by ticking in the appropriate box. Ticking
can be done by hand. In case no information is to be
provided against any column, they should indicate
`Nil’ or `Not applicable’ against that column. Under
no circumstances any column in the application
form should be left blank.
(10) Application must be signed by the individual, or by
the proprietor in the case of sole proprietary concern,
and by all of the partners of the firm in case of partnership
firm.
(11) If any member is a common member/partner in one or
more firms, it must be ensured that the application for
empanelment should be made in respect of only one partnership
firm which the member wants to be empanelled.
Kindly note that if the application is sent in
respect of more than one firm where any one of
the partners/proprietor is common, the applications
for all the firms are liable to be rejected.
(12) If any firm has one or more branches in addition to
its head office, the application should be made in the
name of the head office only, giving particulars of
branches including foreign branches as required in
the application.
(13) No partner of a firm shall apply in his individual
name/proprietary firm’s name when
he/they is/are partner(s) in a firm. The application
in such cases shall be made in the name of
the partnership firm only. However, if a member
is not a partner in any partnership firm, the application
may be made by the sole proprietary firm
or in his individual name if his main occupation
is professional practice.
(14) Only a member of the Institute whose main
occupation has been treated as the practice of
the profession of accountancy as per the
Chartered Accountants Regulations, 1988, is
entitled to apply (please see page 1057).
Similarly, a firm can apply only if it has atleast
one partner whose main occupation is the practice
of the profession of accountancy. Members
who are in whole-time employment in firms of
chartered accountants or with a practising chartered
accountant are not entitled to apply.
(15) If a paid assistant is also having proprietary
concern or is a partner in any other firm or is
practising in individual name then he/she will
be regarded as part time employee.
(16) The information furnished in the application
would be computerised. Therefore, the members
are requested to get the form typed in capital
letters and take care that the form including
Annexures `A’ to `P’, which are an integral part of
the form, are completely and properly filled in
and also the correctness of the facts ensured
before submission of the form.
(17)Unique Code No.-The Member/Firm should
quote their unique code no., which facilitates correct
and proper recording of data of past Bank Audit
experience etc. As such, missing or incorrect code
numbers will result in delinking of firms experience
data for the current year, and the Institute will not be
responsible for the consequences thereof in any way.
In case of any mistake in the Unique Code Number,
the application may be rejected.
Members/Firms who are applying for the first time,
or those who have so far not been allotted a unique
code no., should write `NOT ALLOTTED’ in capital
letters in the relevant space. DO NOT LEAVE
THE SPACE BLANK.
(18) It may be noted that no request for any change in the
particulars supplied in this form would be entertained.
(19) It is most important to provide past information
or any change(s) in unique code numbers in the
space provided.
(20) It may be noted that stating the Firm Registration
Number is mandatory.
(21) While every care is taken in preparing the panel, in
the event of any inadvertent mistake or omission, the
Institute will not be responsible in any way.
General Information & Caution
(1) Attention of the members is drawn to the following:-
(A) A sole proprietor/chartered accountant practising
in his individual name/firm of chartered
accountants who is/are concurrent/revenue/
internal auditors for the year or a part of the year
of a bank cannot be the statutory auditors of the
same bank for that year. This will apply even
where a partner of the firm (in his individual or
some other capacity) is internal auditor for the
year or a part of the year of that Bank.
THE CHARTERED ACCOUNTANT APRIL 2003 1025
(B) Applications should not be made by a sole proprietor/
chartered accountant practising in his individual
name where he/she is a partner/employee
(part-time or whole time) of any other firm or concern
(including a sole proprietary concern/chartered
accountant practising in his individual name), or a
company/any other organisation. Applications, if
made by such sole proprietor/chartered accountant
practising in his individual name are not only liable to
be rejected but may evoke disciplinary proceedings/
actions against the member concerned.
(C) Additional Information called for in Part III
may be used by the appropriate authorities for other
assignments.
(2) Members may please note that if any information given
in the form contradicts information given elsewhere in
the form or its annexures, or if any information is
incorrect, or if there is concealment of information, or
the form is submitted by an ineligible applicant then
the applicant would be liable for disciplinary proceedings,
in addition to the rejection of the application.
(3) In order to ensure that your application is duly
acknowledged by the Institute, you are requested to
fill up the acknowledgement form enclosed with the
application form and send along with a self addressed
envelope, duly stamped.
(4) Members may please note that mere submission of
the application form to the Institute does not ensure
that the name of the applicant will be placed on the
panel. The Institute has only undertaken to collect
the application forms, process and compile the data
and forward the same to the appropriate authorities
for their consideration. The Institute does not
undertake any responsibility with regard to the
allotment of audit or other assignments to any of
the applicants. The Institute reserves the right to
use the information received from members for any
purpose in the interest of the profession, in addition
to submitting the same to the appropriate authorities
which may be required by any other authorities.
(5) The Institute also reserves the right to call for any
further information or explanations from the member(
s)/firm concerned to verify the correctness of
the particulars furnished in the application form.
(6) The allotment of audits would be done by the authorities
on the basis of multiple criteria which are confidential,
and the Institute, as a policy, does not interfere
in the allotment of the assignments. Members
are advised not to correspond directly with the
authorities on matters related to empanelment.
(7)Kindly note that while the application form, duly
filled in, is to be sent to Mumbai Office, all
enquiries in the matter should be made only at
the Delhi Office of the Institute.
Address for sending application:
The Chairman,
Professional Development Committee,
The Institute of Chartered Accountants of India,
‘Anveshak’, 27, Cuffe Parade, Colaba, P.B. No. 6081,
Mumbai-400005
Address for enquiries:
The Secretary,
Professional Development Committee,
The Institute of Chartered Accountants of India,
Post Box No. 7100, Indraprastha Marg,
New Delhi-110002
Common Errors
The following discrepancies were noticed while processing
the applications submitted by the members and
firms, and formed grounds for rejection of applications:-
(a) Documents required under Part III (now Part IV) –
incomplete set enclosed or set not enclosed at all.
(b) Form not signed in the manner required.
(c) Simultaneous applications submitted by firms having
`common partners’.
(d) Multiple applications submitted by the same
firm/member.
(e) Partner(s) of firm(s) applying in their individual name
or proprietary firm name, simultaneously being a
partner/paid employee of another firm which may
or may not have applied.
(f) Applications made by members whose main occupation
was not practice.
(g) Information submitted was incomplete.
(h) Application was illegible.
(i) Applications received after last date of submission.
(j) Information supplied was incorrect.
The Members and Firms are therefore advised
that they should take strict care to ensure full
compliance with instructions while filling up the
form. It may please be noted that non-adherence to
instructions will result in rejection of the application.
THE CHARTERED ACCOUNTANT APRIL 2003 1026 FORM OF APPLICATION FOR EMPANELMENT
PLEASE SEND IT TO THE INSTITUTE’S MUMBAI OFFICE BY REGISTERED POST WITH ACKNOWLEDGEMENT DUE OR BY HAND DELIVERY OR BY COURIER
OR BY SPEED POST
Information as on 1.1.2003 (To be printed or typewritten only. However, ticking in the boxes can be done by hand.)
PART I
1. Concern Name
(In case practising in individual name, please mention the name. Please do not use the prefix M/s/Mr/Mrs etc. before the concern name.)
2. Status* 0 Sole Proprietary Concern/Individual
1 Partnership Firm
3. Firm Registration No. (To be given in the case of a sole proprietary concern/
partnership firm. See also Note No. 1 at the bottom of this page.)
4. P.A.N./G.I.R. No.
5. Service-tax Registration No.
6. Address (See Note No. 2 & 3 at the bottom of this page)
Town District
State/Union Old District
Territory
Telephone No. Pin Code
E-mail
Grams Fax
*TICK APPROPRIATE BOX
Note:
1. Firm Registration No. of every sole proprietary concern/partnership firm appears in the entry relating to the firm in the list of firms published
by the Institute. In the case of a member practising in individual name, please mention ‘‘N.A.’’.
2. If full address, name of town, pin code, and district is not given and filled in properly, the application is liable to rejection.
3. In the column ‘Old District’, please mention the name of the previous district only in case any new district is declared by any government.
Please tick if you had applied in the same name in earlier year(s) and also fill-up the Unique Code No(s) under each year. In case, the Unique Code No. of any year is
not available with you, please write ‘NOT AVAILABLE’.
YEAR 93-94 94-95 95-96 96-97 97-98 98-99 99-00 2000-01 2001-02 2002-03
Unique Code No.
STD Code
THE CHARTERED ACCOUNTANT APRIL 2003 1027 7. Year Of Establishment
(Please mention the year in which the firm was established. In case of individuals, the year of obtaining Certificate of Practice should be mentioned.)
8. Date since which the firm has an FCA partner (first state the date, then month and then year) – –
(In case of partnership firms only. For others, state `N.A.’ or ‘Not Applicable’.)
9. Date since which the status of the firm as a partnership firm has been continuing – –
(In case of partnership firms only. For others, state ‘N.A.’ or ‘Not Applicable’)
10. Normal Working Hours_______________To________________
11 . Particulars of Partners/Sole Proprietor (please fill up Annexure A)
(In case a member is practising in individual name, particulars of such member to be given)
(a) Numbers of FCAs____________
(b) Number of ACAs____________
(c) Total [(a)+(b)]_______________
12. Number of paid chartered accountant employees in the concern
Full time
Part time
Total
(Please fill up Annexure B)
13. Number of unqualified audit staff in the concern (including branches):
(a) Audit clerks
(b) Articled clerks
(c) Other audit staff
(excluding administrative staff)
Total
14. Number of branches (i) in India (ii) outside India
(Please fill up Annexure C)
15. Indicate whether any partner(s)/proprietor of the concern is/are partner(s) or proprietor or paid employees of any other concern of chartered accountants or
is practising as an individual
Yes No
16. Indicate whether any paid chartered accountant employee(s) of the concern is/are partner(s) or proprietor or paid employee in any other concern of chartered
accountants or is practising as an individual
Yes No
[Please fill up Annexure D (ii)]
TICK THE APPROPRIATE BOX
* A partner/proprietor of a concern shall not be deemed to be exclusively associated with the concern if he is also a partner or proprietor in any other concern of chartered
accoutants or is also practising as an individual.
Exclusively associated with the concern* Others Total
[Please fill up Annexure D (i)]
THE CHARTERED ACCOUNTANT APRIL 2003 1028 17. Whether there has been any change in the constitution of the firm during the period 1-1-2002 to 1-1-2003?
Yes No
(Please fill up Annexure E)
PART II
18. Experience In Bank Audit As Statutory Auditor Of Head/Central Office/Branches
(Please fill up Annexure F)
(a)Does the concern have previous If yes, indicate the length of experience: Total Experience: years
experience of statutory audit of banks/branches
Also please tick the following:-
10 years or more 5 to 9 years
Yes No 3 to 4 years Less than 3 years
(b)Do partners/proprietor have experience of statutory If yes, indicate in the appropriate box, how many partners/proprietor
audit of banks/branches (a partner/proprietor will be considered have this experience (e.g., if 3 partners have experience of more than
to have such experience only if he signed the audit report/ 10 years, indicate ‘3’ in the first box).
conducted the audit)? 10 years or more 5 to 9 years
Yes No 3 to 4 years Less than 3 years
19. Whether the concern or any partner of the firm or the proprietor has been associated in any capacity other than as statutory central/branch auditor with any
of the public sector banks/regional rural banks/co-operative banks/co-operative societies since 1.4.2002 upto 1.1.2003?
Yes No
(Please fill up Annexure G)
THE CHARTERED ACCOUNTANT APRIL 2003 1029
20. Whether the concern or any partner of the firm or the proprietor is or was during the past calender year
indebted to any public sector bank/regional rural bank/co-operative bank/co-operative society?
Yes No
(Please fill up Annexure H)
21. Whether any partner of the firm or the proprietor is or was during the past calender year director in any public sector bank/
regional rural bank/co-operative bank/co-operative society?
Yes No
(Please fill up Annexure I)
22. Experience in Concurrent/Internal/Income and Expenditure or Revenue Audit of Bank Branches or Stock Audit/Audit of Borrowers’ Accounts
(Please fill up Annexure J):
(a) Does the concern have experience in concurrent audit, internal audit, or income and
expenditure/revenue audit of bank branches or Stock Audit/Audit of Borrowers’ Accounts
Yes No
If Yes, indicate the length of experience: Total Experience: Years
Also please indicate the following:-
10 years or more 5 to 9 years
3 to 4 years Less than 3 years
(b) Do partners/proprietor have experience in concurrent audit, internal audit, or income and expenditure/revenue audit of bank branches or
Stock Audit/Audit of Borrowers’ Accounts (a partner/proprietor will be considered to have such experience only if he signed
the audit report/conducted the audit)?
Yes No
If yes, indicate in the appropriate box, how many partners/proprietor have this experience :
10 years or more 5 to 9 years
3 to 4 years Less than 3 years
THE CHARTERED ACCOUNTANT APRIL 2003 1030 PART III
Additional Information
Please refer (1) (c) under ‘General Information & Caution’ at the beginning of this form.
-- EDP audit means auditing in a computerised environment
-- Options and other derivatives refer to the whole gamut of derivative instruments not only to those in use in India.
__________________________________________________________________________________________________________________________
23. Experience of firm/partners/proprietor in EDP audit of Head/Central Office/Branches of Banks. (Please fill Annexure K)
(a) Does the firm have previous experience of EDP audit of banks/branches?
Yes No
If Yes, indicate the length of experience (number of years)
(b) Do partners/proprietor have experience in EDP audit of banks/branches (a partner/proprietor will be considered to have such experience only if he
signed the audit report/conducted the audit)?
Yes No
If yes, indicate the total length of experience of all partners/proprietor (number of years)
24. Experience of firm/partners/proprietor in EDP audit of Head Office/branches of companies/organisations other than banks.
(a)Does the firm have previous experience of EDP audit of Head Office/Branches of companies/Organisations other than banks?
Yes No
If Yes, indicate the length of experience (number of years)
(b)Do partners/proprietor have experience of EDP audit of Head Office/Branches of companies/Organisations other than banks
(a partner/proprietor will be considered to have such experience only if he signed the audit report/conducted the audit)?
Yes No
If Yes, indicate the following:
(i) Total number of partners/proprietor who have experience in EDP audit of companies/Orgnisations other than banks
(ii) Total experience of partners/proprietor in number of years
THE CHARTERED ACCOUNTANT APRIL 2003 1031
25. Skills to examine the transactions relating to new products recently introduced such as options, derivatives, etc.
(a) Do partners/proprietor possess skills to examine the above transactions?
Yes No
If yes, indicate the number of such partners/proprietor
(b) Does any Chartered Accountant employee of the firm possess skills to examine the above transactions?
Yes No
If yes, indicate the number of such chartered accountant employees
26. Does the firm have any employees having knowledge of information technology, EDP audit, derivatives and allied matters?
Yes No
If yes, indicate the number of such employees
27. CPE Programmes attended by the partners/proprietor of the firm during the period from 1.1.2002 to 1.1.2003
No. CPE Hours
CPE Programmes attended(cumulative for all partners/proprietor)
No. of Partners/Proprietor who attended
28. CPE Programmes attended by the chartered accountant employees during the period from 1.1.2002 to 1.1.2003
No. CPE Hours
CPE Programmes attended (cumulative for all chartered accountant employees)
No.of Employees who attended
29. Number of other professionals employed in the concern(e.g. company secretaries, cost accountants, lawyers, MBAs engineers, etc.)
Full-time________________________
Part-time________________________
Total___________________________
THE CHARTERED ACCOUNTANT APRIL 2003 1032
30. Experience in audit of PSUs (Please fill Annexure L)
(a) Does the concern have previous experience of statutory audit of PSUs
Yes No
If yes, indicate the length of such experience: Total Experience: years.
Also please tick the following:
10 years or more 5-9 years 3-4 years less than 3 years
(b) Do partners/proprietor have experience of statutory audit of PSUs (A partner will be considered to have such experience only if he signed the audit
report/conducted the audit)
Yes No
If yes, indicate in the appropriate box, how many partners/proprietor have this experience.
10 years or more 5-9 years 3-4 years less than 3 years
31. Experience in audit of companies(other than PSUs) (Please fill Annexure M)
(a) Does the concern have previous experience of Statutory Audit of Companies(other than PSUs)?
Yes No
If yes, indicate the length of such experience: Total experience years.
Also please tick the following:-
10 years or more 5-9 years 3-4 years less than 3 years
(b) Do partners/proprietor have experience of Statutory Audit of Companies(other than PSUs)
Yes No
If yes, indicate in the appropriate box, how many partners/proprietor have this experience
10 years or more 5-9 years 3-4 years less than 3 years
32. Experience in audit of other entities (Please fill Annexure N)
(a) Does the concern have previous experience of statutory audit of other entities?
Yes No
If yes, indicate the length of such experience: Total Experience: years.
Also please tick the following:-
10 years or more 5-9 years 3-4 years less than 3 years
(b) Do partners/proprietor have experience of statutory audit of other entities
Yes No
If yes, indicate in the appropriate box, how many partners/proprietor have this experience.
10 years or more 5-9 years 3-4 years less than 3 years
THE CHARTERED ACCOUNTANT APRIL 2003 1033
33. Experience in rendering various kinds of professional services to co-operative institutions including co-operative banks (please fill up Annexure O)
(a) Does the concern have previous experience in rendering professional services (statutory audit, internal audit, management consultancy and other services,© etc.)
to co-operative institutions including co-operative banks?
Yes No
If Yes, indicate the length of such experience: Total Experience: years.
Also please tick the following:-
10 years or more 5-9 years 3-4 years less than 3 years
(b) Do partners/proprietor have experience in rendering professional services (statutory audit, internal audit, management consultancy and other services© , etc.)
to co-operative institutions including co-operative banks?
Yes No
If Yes, indicate in the appropriate box, how many partners/proprietor have this experience
10 years or more 5-9 years 3-4 years less than 3 years
34. Do any partner(s)/proprietor/chartered accountant employees have any degree/diploma/other certificate in information technology/information system audit?
(Please fill up Annexure P)
Yes No
If Yes, indicate the total numbers of partners/proprietor/chartered accountant employees having the above qualifications
35. Does the concern have previous experience in statutory audit of government/semi-government organisaations, corporations, companies, banks or cooperative
institutions?.
Yes No
If Yes, indicate the length of such experience: Total Experience: years.
Also please tick the following:-
10 years or more 5-9 years 3-4 years less than 3 years
© See Chapter 2 of ‘‘Code of Ethics’’ (ninth edition-January 2001) for definition of the expression ‘management consultancy and other services’
(reproduced at page 1056)
THE CHARTERED ACCOUNTANT APRIL 2003 1034
PART IV
LIST OF DOCUMENTS ATTACHED*
Nature of Document Document attached If the document is not attached or is not
Yes No Not applicable applicable, a statement of the reasons therefor
1. A copy of the financial statements (balance sheet
and profit and loss account along with schedules) of the
partnership firm, or of the sole proprietary concern or
individual, as the case may be (The financial statements
should relate to financial year ending on March 31, 2002)
2. A copy of the statement of total income forming part
of the income-tax return for the Assessment
Year 2002-2003 of the firm/proprietor/
individual along with a copy of acknowledgement.
In case no return has been filed for the assessment year
2002-2003, a statement of computation of total income
for the said assessment year in accordance with the provisions
of the Income-tax Act, 1961, should be attached.
3. A copy of the latest available assessment order
of the firm/proprietor/individual.
4. A copy of the statement of total income forming part
of the income-tax return for assessment
year 2002-2003of each of the partners along with
a copy of acknowledgement (in the case of partnership
firms only). In case no return has been filed for the assessment
year 2002-2003, a statement of computation of total
income for the said assessment year in accordance with the
provisions of the Income Tax Act, 1961, should be attached.
5. A copy of the partnership deed
(in the case of partnership firms only)
6. A copy of constitution certificate as on
January 1, 2003 issued by ICAI
*TICK THE APPROPRIATE BOX
THE CHARTERED ACCOUNTANT APRIL 2003 1035
ANNEXURE A
Details Of Partners/Sole Proprietor Of The Concern
(In case a member is practising in individual name, particulars of such member to be given)
TICK THE APPROPRIATE BOX
*Please give Membership Number only, and not the region code (such as 100/200/300/400/500).
** Please fill number of years experience (of each partner/proprietor) in statutory audit of government/semi-government organisations, corporations,
companies, banks or co-operative instiutions. A partner/proprietor will be considered to have such experience only if he signed the: audit report/conducted the audit.
Whether Any Time Is Devoted
To Any Occupation/
Vocation/Business Etc. Other Than Profession
Name
(Address not
required)
Membership
Number*
Year Of
Enrol
ment
Whether
ACA FCA
Whether Main
Occupation Is
Practice
Yes No
Whether partner/
propriator/paid
employee in any
other concern (If
yes, please fill-up
Annexure D (i)
Yes No Yes No
If Yes, Please State No. Of
Hours Devoted Per Week
Including Travelling Time
Educational Institutions Others
Date of Joining the
firm
DD MM YYYY
Usual
Place of
Residence
(address not
required)
Whether
exclusively
associated
with applicant
firm
Yes No
No. of
years
experience
in
statutory
Audits**
TOTAL
THE CHARTERED ACCOUNTANT APRIL 2003 1036
Name Membership Year Of Date Of Whether Are They In Service On Usual Place Signature2
Number1 Enrolment Beginning Of Full Part3 of Residence
Continuous Time Time (address not
Employment In ACA FCA Basis Basis required)
The Concern
Total
TICK THE APPROPRIATE BOX
1Please give Membership Number only, and not the region code (such as 100/200/300/400/500)
2The signatures should correspond to those in the Institute’s records.
3 Please see Sl. No. 14 of instructions.
ANNEXURE B
Details Of Paid Chartered Accountant Employees In The Concern
DD MM YYYY
Whether partner/proprietor/
part-time
employee in any other
concern (if yes, please
fill-up Annexure D (ii)
Yes No
THE CHARTERED ACCOUNTANT APRIL 2003 1037
(a) Branches In India
Branch I
(i) Address
Town
District
State/Union Territory
Pin Code
Telephone No.
Fax No.
(ii) Name Of The Member Incharge And Membership
Number
Usual place of residence of member incharge_______________________________
(iii) Other Staff
(a) No. Of Qualified Chartered Accountants
(b) No. Of Non-Qualified Audit Assistants
Branch II
ANNEXURE C
Particulars Of Branches
(b) Branches Outside India
(i) Address
Town
District
State/Union Territory
Pin Code
Telephone No.
Fax No.
(ii) Name Of The Person Incharge And Membership Number (If any)
(iii) Other Staff
(a) No. Of Qualified Chartered Accoutants*
(b) No. Of Non-Qualified Audit Assistants
* This will also include persons possessing an equivalent qualification from an overseas professional accountancy body, e.g. Certified Public Accountants.
THE CHARTERED ACCOUNTANT APRIL 2003 1038 ANNEXURE D (i)
Details of Partners/Proprietor of the Concern being Partners or Proprietor or Paid employees in any other Concern of Chartered Accountants or Practising as an
Individual
Name of the Member Whether Whether Date Name of Firm Whether the concern is Town District State/
Partner/Pro ship Partner/ Paid since the other regis- Union
orietor/ No.* Proprietor Employee when Concern in tration Territory
in any other in any partner/ which he/she number
concern or other Proprietor/ is Partner/ of such
practising concern paid Proprietor/ concern
as individual employee Individual/
Paid Employee
Yes No Yes No DD MM YYYY Partnership Proprietor
ship/individual
TICK THE APPROPRIATE BOX
* Please give Membership Number only, and not the region code (such as 100/200/300/400/500)
THE CHARTERED ACCOUNTANT APRIL 2003 1039
ANNEXURE D (ii)
Details of paid chartered accountant employees of the concern being Partners or Proprietor or Paid Employees in any other Concern of Chartered Accountants or
Practising as an Individual
Name of the Member Whether Whether Date Name of Firm Whether the concern is Town District State/
Paid ship Partner/ Paid since the other regis- Union
Chartered No.* Proprietor Employee when Concern in tration Territory
Accountant in any other in any partner/ which he/she number
Employee concern or other Proprietor/ is Partner/ of such
practising concern paid Proprietor/ concern
as individual employee Individual/
Paid Employee
Yes No Yes No DD MM YYYY Partnership Proprietorship/
individual
TICK THE APPROPRIATE BOX
*Please give Membership Number only, and not the region code (such as 100/200/300/400/500)
THE CHARTERED ACCOUNTANT APRIL 2003 1040
ANNEXURE E
Details of changes in the constitution of firm from 1-1-2002 to 1-1--2003
Name of partner Membtership Date of joining Date of leaving
Number* the firm the firm
Only details of partners who have joined or have left the firm during the period 1-1-2002 to 1-1-2003 are required to be given.
* Please give Membership Number only, and not the region code (such as 100/200/300/400/500)
THE CHARTERED ACCOUNTANT APRIL 2003 1041
ANNEXURE F
Previous Experience In Bank Audit As Statutory Auditor Of Head/Central Office(s) Or Branches
(A) Concern
Name Of The Bank
As Statutory As Branch
Year Of Audit
Central Auditor* Auditor*
Total
Notes:
(i) Only experience as statutory auditors of head office/central office/branches should be given. Details of experience of branch audit of a public sector bank
and/or private sector bank with total deposits of the entire bank exceeding Rs 100 crore should be mentioned.
(ii) Details of the last 5 years in respect of the above mentioned audits may be given.
*TICK THE APPROPRIATE COLUMN
THE CHARTERED ACCOUNTANT APRIL 2003 1042
ANNEXURE G
Details Of Association With Public Sector Banks/Regional Rural Banks/Co-operative Banks/Co-operative Societies Since 1.4.2002 upto 1.1.2003
Name Of Bank/ Concurrent Internal Income & Expenditure/ Inspection Nominee Director Any Other
Co-operative Society Audit Audit Revenue Audit Appointed By The Assignment
Bank On The Board
Of Any Company/
Institution
Yes Yes Yes Yes Yes Yes
TICK THE APPROPRIATE BOX
THE CHARTERED ACCOUNTANT APRIL 2003 1043
ANNEXURE H
Details Of Indebtedness To Public Sector Banks/Regional Rural Banks/Co-operative Banks/Co-operative Societies (For Amounts Exceeding Rs 1,000)*
from 1-1-2002 to date of this application
Name Of The Member/Partner/Firm Indebted Membership No. Name Of The Bank/Co-operative Society
(where applicable)
*Includes outstandings in respect of credit cards
ANNEXURE I
Details Of Directorship In Public Sector Banks/Regional Rural Banks/Co-operative Banks/Co-operative Societies from 1-1-2002 to date of this application
Name Of the Bank/ Name Of The Member Membership Residential Phone Nos. Fax E-mail
Co-operative Society (Who Is Director) Number Address Office Residence Mobile
THE CHARTERED ACCOUNTANT APRIL 2003 1044
ANNEXURE J
Experience In Concurrent Audit, Internal Audit Or Income And Expenditure/Revenue Audit of Bank Branches or Stock Audit/Audit of Borrowers’ Accounts
(A) Concern
Name Of The Bank
Year Of Audit
Concurrent Audit Internal Audit
Income and Expenditure/ Stock Audit/
Revenue Audit Audit of Borrowers’ Accounts
TOTAL
(B) Partners/Proprietor (Only those who have signed the Audit Report/Conducted the Audit)
Name Of Partner/Proprietor Year Of Audit Total Experience of
Who Signed The Audit Name Of The Bank As Concurrent As Internal As Income and Partner/Proprietor In
Report/Conducted The Audit Auditor Auditor Expenditure/ Number Of Years
Revenue Auditor
Note: Details of the last 5 years in respect of the above mentioned audits may be given.
As Stock
Auditor/Auditor
of Borrowers’
Accounts
THE CHARTERED ACCOUNTANT APRIL 2003 1045 ANNEXURE K
Previous Experience In EDP Audit Of Head/Central Office(s) Or Branches of Banks
(A) Concern
Name Of The Bank
EDP Audit of Head/ EDP Audit of Branch Office*
Year Of Audit
Central Office*
Note: Details of last 5 years in respect of the above mentioned audits may be given. Total
*TICK THE APPROPRIATE COLUMN
THE CHARTERED ACCOUNTANT APRIL 2003 1046 (B) Partners/Proprietor (Only Those Who Have Signed The Audit Report/Conducted The Audit)
Name Of Partner/Proprietor Name Of The Bank EDP Audit of EDP Audit of Year Of Audit Total Experience of
Who Signed The Audit Report/ Head/Central Branch Partner/Proprietor
Conducted The Audit office* Office* In Number Of
Years
*TICK THE APPROPRIATE COLUMN
Note: Details of last 5 years in respect of the above mentioned audits may be given.
THE CHARTERED ACCOUNTANT APRIL 2003 1047
ANNEXURE L
Previous Experience In PSU Audit As Statutory Auditor
(A) Concern
Name Of The PSU
Nature of Industry*
Year Of Audit
Total
*Note: (i) Details of last 5 years in respect of the above mentioned audits may be given.
(ii) ‘Nature of Industry’ means name of the industry out of any of the industries mentioned on next page (bottom).
THE CHARTERED ACCOUNTANT APRIL 2003 1048 (B) Partners/Proprietor (Only Those Who Have Signed The Audit Report/Conducted The Audit)
Name Of Partner/Proprietor Name Of The PSU Nature of Year Of Audit Total Experience of
Who Signed The Audit Report/ Industry* Partner/Proprietor
Conducted The Audit In Number Of
Years
*Note (i) Details of last-5 years in respect of the above mentioned audits may be given.
(ii) ‘Nature of Industry’ means name of industry out of any of the industries mentioned below:-
1. Aviation
2. Oil and Gas
3. Steel
4. Chemicals, Petrochemicals
5. Fertilisers
6. Tourism
7. Tele-communication
8. Insurance
9. Mining
10. Shipping
11. Power
12. Construction
13. Banking
14. Consultancy Service
15. Engineering
16. Transport other than shipping & Aviation
17. Information Technology
THE CHARTERED ACCOUNTANT APRIL 2003 1049
ANNEXURE M
Previous Experience In Statutory Audit of Companies (other than PSUs)
(A) Concern
Name Of The Company Year Of Audit
Total
Note: Details of last 5 years in respect of the above mentioned audits may be given.
THE CHARTERED ACCOUNTANT APRIL 2003 1050 (B) Partners/Proprietor (Only Those Who Have Signed The Audit Report/Conducted The Audit)
Name Of Partner/Proprietor Name Of The Company Year Of Audit Total Experience of
Who Signed The Audit Report/ Partner/Proprietor
Conducted The Audit In Number Of
Years
Note: Details of last-5 years in respect of the above mentioned audits may be given.
THE CHARTERED ACCOUNTANT APRIL 2003 1051
ANNEXURE N
Previous Experience In Statutory Audit of Other Entities
(A) Concern
Name Of The Entity Year Of Audit
Total
Note: Details of last 5 years in respect of the above mentioned audits may be given.
THE CHARTERED ACCOUNTANT APRIL 2003 1052 (B) Partners/Proprietor (Only Those Who Have Signed The Audit Report/Conducted The Audit)
Name Of Partner/Proprietor Name Of The Entity Year Of Audit Total Experience of
Who Signed The Audit Report/ Partner/Proprietor
Conducted The Audit In Number Of
Years
Note: Details of last-5 years in respect of the above mentioned audits may be given.
THE CHARTERED ACCOUNTANT APRIL 2003 1053 Annexure O
Previous Experience In Rendering Professional Services To Co-operative Institutions Including Co-Operative Banks1
A. Concern
Name of the Institution Year Net Worth Turnover Nature of Services Rendered2
(Rs. Lakhs) (Rs. Lakhs) Statutory Internal Taxation Management Consultancy Any other services
Audit Audit Work and other Services3 (specify nature)
(B) Partners/Proprietor (only those who signed the audit report/rendered the relevant services)
Name of Name of the Year Net Worth Turnover Nature of Services Rendered2
Partner/ Institution (Rs. Lakhs) (Rs. Lakhs) Statutory Internal Taxation Management Any other services
Proprietor Audit Audit Work Consultancy (specify nature)
and other Services3
1The particulars should be given only in respect of assignments handled during the preceding five years
2Tick the appropriate column
3Please see chapter 2 of "Code of Ethics" (ninth edition-January 2001) for definition of the expression "Management Consultancy and Other Services" (reproduced at
Page 1056)
THE CHARTERED ACCOUNTANT APRIL 2003 1054 ANNEXURE P
Qualifications of partner(s)/proprietor/chartered accountant employees in Information Technology/Information System Audit
Name of the partner/proprietor/ Name of the course Name of organisation which Year Duration of the course
chartered accountant employee conducted the course
THE CHARTERED ACCOUNTANT APRIL 2003 1055 PART V
Declaration
I/We, the undersigned, as Proprietor/Partners of M/s ____________________ ________________ or as individual do hereby declare that the
particulars as given above including in Annexures A to P are as on 1.1.2003 and are complete and correct in all respects to the best of my/our knowledge
and belief. I/We hereby declare that no separate application for any of our branches or for associate concern having common partner/proprietor or in
individual name has been made. I/We undertake that I/We have gone through the instructions and terms and conditions as enclosed with the application
form and affirm that application is made as per the terms and conditions prescribed and in no way infringes the terms and conditions so prescribed.
I/We recognise that in case any of the terms or conditions so prescribed is infringed, the application is liable to be rejected.
I/We further recognise that if any of the terms or conditions is infringed or any of the statements made therein or information furnished in the application
form is not correct, I/We would be liable for disciplinary action under the Chartered Accountants Act, 1949, and Regulations framed thereunder.
I/We hereby declare that audit/other assignment allotted on the basis of information furnished in the application form will not be accepted and
carried out if the firm in whose name the application is made is not in existence at the time of audit.
I/We declare that the constitution of the firm as on 1.1.2003 shown in the application is the same as that in the contitution Certificate issued by the ICAI.
Sl. No. Name of Partner/ Membership No. PAN No. Date/dates of payment Signature*
Proprietor/Individual of the fees for the year 2002-
2003 for membership/for
issue of Certificate of Practice
Date______________
Place_____________
* 1. The declaration should be signed by the individual, or by the proprietor in the case of a sole proprietory concern, and by all the partners in the case of a partnership
firm.
2. The signatures should correspond to those in the Institute’s records.
THE CHARTERED ACCOUNTANT APRIL 2003 1056
The Definition of the expression
"Management Consultancy and
other Services"
The expression "Management Consultancy and
other Services’’ shall not include the function of statutory
or periodical audit, tax(both direct taxes and indirect
taxes) representation or advice concerning tax matters
or acting as liquidator, trustee, executor, administrator,
arbitrator or receiver, but shall include the following:
*(i) Financial management planning and financial policy
determination.
*(ii) Capital structure planning and advice regarding
raising finance.
*(iii) Working capital management.
*(iv) Preparing project reports and feasibility studies.
(v) Preparing cash budget, cash flow statements,
profitability statements, statements of sources
and application of funds etc.
(vi) Budgeting including capital budgets and revenue
budgets.
(vii) Inventory management, material handling and
storage.
(viii) Market research and demand studies.
(ix) Price-fixation and other management decision
making.
(x) Management accounting systems, cost control
and value analysis.
(xi) Control methods and management information
and reporting.
(xii) Personnel recruitment and selection.
(xiii) Setting up executive incentive plans, wage incentive
plans etc.
(xiv) Management and operational audits.
(xv) Valuation of shares and business and advice
regarding amalgamation, merger and acquisition.
(xvi) Business Policy, corporate planning, organisation
development, growth and diversification.
(xvii) Organisation structure and behaviour, development
of human resources including design and
conduct of training programmes, work study, jobdescription,
job evaluation and evaluation of work
loads.
(xviii)Systems analysis and design, and computer related
services including selection of hardware and
development of software in all areas of services
which can otherwise be rendered by a chartered
accountant in practice and also to carry out any
other professional services relating to EDP.
(xix) Acting as advisor or consultant to an issue, including
such matters as:-
(a) drafting of prospectus and memorandum
containing salient features of prospectus.
Drafting and filing of listing agreement and
completing formalities with Stock
Exchanges, Registrar of Companies and
SEBI.
(b) Preparation of publicity budget, advice
regarding arrangements for selection of (i) admedia,
(ii) centres for holding conferences of
brokers, investors, etc., (iii) bankers to issue,
(iv) collection centres, (v) brokers to issue, (vi)
underwriters and the underwriting arrangement,
distribution of publicity and issue
material including application form, prospectus
and brochure and deciding on the quantum
of issue material (In doing so, the relevant
provisions of the Code of Ethics must be
kept in mind).
(c) Advice regarding selection of various agencies
connected with issue, namely Registrars
to Issue, printers and advertising agencies.
(d) Advice on the post issue activities, e.g., followup
steps which include listing of instruments
and despatch of certificates and
refunds, with the various agencies connected
with the work.
Explanation: For removal of doubts, it is hereby
clarified that the activities of broking, underwriting
and portfolio management are not permitted.
(xx) Investment counselling in respect of securities [as
defined in the Securities Contracts (Regulation)
Act, 1956 and other financial instruments.] (In
doing so, the relevant provisions of the Code of
Ethics must be kept in mind).
(xxi) Acting as registrar to an issue and for tansfer of
shares/other securities. (In doing so, the relevant
provisions of the Code of Ethics must be kept in
mind).
(xxii) Quality audit.
(xxiii) Environment Audit.
(xxiv) Energy Audit
(xxv) Acting as Recovery Consultant in the Banking
Sector.
*consideration of "tax implications" while rendering the services at (i), (ii), (iii) and (iv) above will be considered as part of
"Management Consultancy and other Services".
THE CHARTERED ACCOUNTANT APRIL 2003 1057
According to Regulation 43(8) of the Chartered Accountants
Regulations, 1988, a chartered accountant is eligible
to train an articled clerk provided his main occupation is
the practice of the profession of accountancy at the time
of engaging clerks as well as in each of the qualifying years,
on the basis of which he claims eligibility to train articled
clerks. A similar provision exists in Regulation 68(2) in
respect of engagement of audit clerks.
The Council has laid down the following guidelines
for determination of the main occupation of members
for the purpose of their eligibility to train articled clerks:
I General
(a) The office hours of the member should be a minimum
of 35 in a week.
(b) Such office hours should be consistent with the
normal working hours and should not be before
9.00 a.m. or after 7.00 p.m.*
(c) The normal working hours for an articled clerk
should not start after 11.00 a.m. or end before 4.30 p.m.
II (a) Member engaged in full-time employment
(other than in an educational institution)
(i) The main occupation of a member engaged in full-time
employment will be employment even though he may
hold Certificate of Practice, because a member cannot
have two main occupations. Even if the office hours in
full-time employment are arranged in such a manner as to
have substantial time for practice, practice cannot be considered
as main occupation.
(ii) The timings of the employment should not at all clash
or overlap with his own office hours.
(b) Member engaged in full-time employment in an
educational institution
(i) The timings of the employment should not normally
clash or overlap with his own office hours:
(ii) If, however, the hours of the employment clash or overlap
with his own office hours, the time devoted to the
employment (including travelling time) during such
office hours should not be more than 50 per cent of the
office hours and should not exceed 20 hours in a week.
(c) Member engaged in part-time employment
(i) The timings of the employment should not normally
clash or overlap with his own office hours:
(ii) If, however, the hours of such employment clash or
overlap with his own office hours, the time devoted
to the employment (including travelling time) during
such office hours should not be more than 50 per
cent of the office hours and should not exceed 20
hours in a week.
*It may, however, be mentioned that for the articled/audit clerks
pursuing chartered accountancy course after having passed the foundation
examination and concurrently undergoing the graduation
course, the Council has decided that working hours of the principal
shall not be before 9.00 a.m. and after 8.00 p.m.
Broad Guidelines Laid Down By The Council Of The Institute To Determine Main
Occupation Of A Member For The Purpose Of Training Articled/Audit Clerks Under
Regulations 43 & 68 Of The Chartered Accountants Regulations, 1988
THE CHARTERED ACCOUNTANT APRIL 2003 1058
The Institute of Chartered Accountants of India
Anveshak, 27, Cuffe Parade, Colaba, P.B. No. 6081, Mumbai-400005
Sub: Application for empanelment for audit of branches of 27 Public Sector Banks,
statutory central and branch audit of Regional Rural Banks and other authorities
for the year 2003-2004.
I hereby acknowledge the receipt of the application from the concern
M/s*________________________________________________________________________
____________________________________________________________________________
________________Code No.____________________. No further correpsondence is necessary in
this respect and the application will be considered by the prescribed authorities in accordance with the
norms laid down by them.
Yours faithfully,
(Assistant Secretary)
* Please fill in your name and address.
(Please enclose a self-addressed stamped envelope with the form.)
IMPORTANT ANNOUNCEMENT:-
All requests received from other authorities/entities
(including the Central/State Government Departments,
Registrars of Co-operative Societies of various
States etc.) for submitting panels/lists would be met
out of the above panel and therefore, in order to be
included in all such panels/lists, members/firms
should ensure that they do apply for this panel.
This form is to be filled up by a Chartered Accountant (a)
practising in his individual name or (b) sole proprietor or
(c) a partnership firm, who is interested in being empanelled
as statutory auditor for branches of 27 public sector
banks or for statutory central and branch audit of RRBs
and other authorities. Detailed instructions, general
information and common errors found in the applications
submitted in earlier years, as detailed below, should
be studied carefully and followed in filling up the form.
The form should be sent in duplicate* by
Registered AD Post or Courier or Speed Post or per
bearer so as to reach at the following address on or
before April 30, 2003:
The Chairman,
Professional Development Committee,
The Institute of Chartered Accountants of India,
‘Anveshak’, 27, Cuffe Parade, Colaba, P.B. No. 6081,
Mumbai-400005
Instructions
(1) Annexures `A’ to `P’ are integral to the application and
therefore, must be filled up strictly in the manner required.
(2) The information to be furnished must be printed or
typewritten. However, in the boxes, ticking can be
done by hand.
Clarifications :- The application may be printed on
computer. However, it should be identical in all respects
to the original form and no changes are permitted.
(3) If the space provided in the application form is not
found sufficient, please get the form typed on a separate
sheet with all the columns and fill in the same. It
must be ensured that the typed version is exactly the
same as this application form.
In case the applicant is having more than two branches
in/outside India, please attach (with Annexure C) extra
sheets containing the details of such branches in the
same format as required in Annexure C of this form.
(4) While mentioning the `Concern name’, do not use the
prefix M/s, Mr, Mrs. etc.
(5) Boxes have been provided in the columns of the
form. Please tick/fill up the appropriate box. Where
there is no box, please furnish the details required.
(6) The members/firms should give the particulars in the
form on the basis of the constitution of the firm and
the staff position as on January 1, 2003.
(7) Where the application is made by a member practising
in his individual name, any reference in the application
form to `proprietor’/`concern’ would be construed
as referring to such individual member and all
the relevant details should be furnished accordingly.
(8) The word `Experience’ of partners/proprietor wherever
it occurs in the application form means the total
experience of the partner/proprietor in audit and
also includes such experience gained by him/her
while associated with other concerns as partner or
proprietor or while practising as an individual. In
other words, such experience is not limited to that
obtained during the association of the partner/proprietor
with the applicant concern only. It may also
be noted that experience in capacity as articled/audit
clerk/paid assistant should not be mentioned.
(9) (i) The application should be sent in duplicate*
by Registered AD post or per bearer or
Courier or Speed Post at the address given above.
(ii) The original must be accompanied by documents
required under Part IV. The duplicate copy of
the form may be a photocopy. Both the copies of the
application should be sent only in one cover superscribing
on it in red ink the words- "APPLICATION
FOR EMPANELMENT OF AUDITORS
FOR BANK BRANCHES/ RRBs/OTHER
AUTHORITIES FOR THE YEAR 2003-2004".
Application For Empanelment Of Auditors
For (i) Statutory Audit of branches of 27 Public Sector Banks (ii) Statutory Central And Branch
Audit of Regional Rural Banks (RRBs) and (iii) other authorities, for the year 2003-2004
(This form is also available at the website : www.icai.org)
* The documents required under Part IV are to be attached with the original application only.
THE CHARTERED ACCOUNTANT APRIL 2003 1024
The applicants must ensure that all the columns in the
application form are filled in properly. They should
indicate against each column the necessary information
categorically by ticking in the appropriate box. Ticking
can be done by hand. In case no information is to be
provided against any column, they should indicate
`Nil’ or `Not applicable’ against that column. Under
no circumstances any column in the application
form should be left blank.
(10) Application must be signed by the individual, or by
the proprietor in the case of sole proprietary concern,
and by all of the partners of the firm in case of partnership
firm.
(11) If any member is a common member/partner in one or
more firms, it must be ensured that the application for
empanelment should be made in respect of only one partnership
firm which the member wants to be empanelled.
Kindly note that if the application is sent in
respect of more than one firm where any one of
the partners/proprietor is common, the applications
for all the firms are liable to be rejected.
(12) If any firm has one or more branches in addition to
its head office, the application should be made in the
name of the head office only, giving particulars of
branches including foreign branches as required in
the application.
(13) No partner of a firm shall apply in his individual
name/proprietary firm’s name when
he/they is/are partner(s) in a firm. The application
in such cases shall be made in the name of
the partnership firm only. However, if a member
is not a partner in any partnership firm, the application
may be made by the sole proprietary firm
or in his individual name if his main occupation
is professional practice.
(14) Only a member of the Institute whose main
occupation has been treated as the practice of
the profession of accountancy as per the
Chartered Accountants Regulations, 1988, is
entitled to apply (please see page 1057).
Similarly, a firm can apply only if it has atleast
one partner whose main occupation is the practice
of the profession of accountancy. Members
who are in whole-time employment in firms of
chartered accountants or with a practising chartered
accountant are not entitled to apply.
(15) If a paid assistant is also having proprietary
concern or is a partner in any other firm or is
practising in individual name then he/she will
be regarded as part time employee.
(16) The information furnished in the application
would be computerised. Therefore, the members
are requested to get the form typed in capital
letters and take care that the form including
Annexures `A’ to `P’, which are an integral part of
the form, are completely and properly filled in
and also the correctness of the facts ensured
before submission of the form.
(17)Unique Code No.-The Member/Firm should
quote their unique code no., which facilitates correct
and proper recording of data of past Bank Audit
experience etc. As such, missing or incorrect code
numbers will result in delinking of firms experience
data for the current year, and the Institute will not be
responsible for the consequences thereof in any way.
In case of any mistake in the Unique Code Number,
the application may be rejected.
Members/Firms who are applying for the first time,
or those who have so far not been allotted a unique
code no., should write `NOT ALLOTTED’ in capital
letters in the relevant space. DO NOT LEAVE
THE SPACE BLANK.
(18) It may be noted that no request for any change in the
particulars supplied in this form would be entertained.
(19) It is most important to provide past information
or any change(s) in unique code numbers in the
space provided.
(20) It may be noted that stating the Firm Registration
Number is mandatory.
(21) While every care is taken in preparing the panel, in
the event of any inadvertent mistake or omission, the
Institute will not be responsible in any way.
General Information & Caution
(1) Attention of the members is drawn to the following:-
(A) A sole proprietor/chartered accountant practising
in his individual name/firm of chartered
accountants who is/are concurrent/revenue/
internal auditors for the year or a part of the year
of a bank cannot be the statutory auditors of the
same bank for that year. This will apply even
where a partner of the firm (in his individual or
some other capacity) is internal auditor for the
year or a part of the year of that Bank.
THE CHARTERED ACCOUNTANT APRIL 2003 1025
(B) Applications should not be made by a sole proprietor/
chartered accountant practising in his individual
name where he/she is a partner/employee
(part-time or whole time) of any other firm or concern
(including a sole proprietary concern/chartered
accountant practising in his individual name), or a
company/any other organisation. Applications, if
made by such sole proprietor/chartered accountant
practising in his individual name are not only liable to
be rejected but may evoke disciplinary proceedings/
actions against the member concerned.
(C) Additional Information called for in Part III
may be used by the appropriate authorities for other
assignments.
(2) Members may please note that if any information given
in the form contradicts information given elsewhere in
the form or its annexures, or if any information is
incorrect, or if there is concealment of information, or
the form is submitted by an ineligible applicant then
the applicant would be liable for disciplinary proceedings,
in addition to the rejection of the application.
(3) In order to ensure that your application is duly
acknowledged by the Institute, you are requested to
fill up the acknowledgement form enclosed with the
application form and send along with a self addressed
envelope, duly stamped.
(4) Members may please note that mere submission of
the application form to the Institute does not ensure
that the name of the applicant will be placed on the
panel. The Institute has only undertaken to collect
the application forms, process and compile the data
and forward the same to the appropriate authorities
for their consideration. The Institute does not
undertake any responsibility with regard to the
allotment of audit or other assignments to any of
the applicants. The Institute reserves the right to
use the information received from members for any
purpose in the interest of the profession, in addition
to submitting the same to the appropriate authorities
which may be required by any other authorities.
(5) The Institute also reserves the right to call for any
further information or explanations from the member(
s)/firm concerned to verify the correctness of
the particulars furnished in the application form.
(6) The allotment of audits would be done by the authorities
on the basis of multiple criteria which are confidential,
and the Institute, as a policy, does not interfere
in the allotment of the assignments. Members
are advised not to correspond directly with the
authorities on matters related to empanelment.
(7)Kindly note that while the application form, duly
filled in, is to be sent to Mumbai Office, all
enquiries in the matter should be made only at
the Delhi Office of the Institute.
Address for sending application:
The Chairman,
Professional Development Committee,
The Institute of Chartered Accountants of India,
‘Anveshak’, 27, Cuffe Parade, Colaba, P.B. No. 6081,
Mumbai-400005
Address for enquiries:
The Secretary,
Professional Development Committee,
The Institute of Chartered Accountants of India,
Post Box No. 7100, Indraprastha Marg,
New Delhi-110002
Common Errors
The following discrepancies were noticed while processing
the applications submitted by the members and
firms, and formed grounds for rejection of applications:-
(a) Documents required under Part III (now Part IV) –
incomplete set enclosed or set not enclosed at all.
(b) Form not signed in the manner required.
(c) Simultaneous applications submitted by firms having
`common partners’.
(d) Multiple applications submitted by the same
firm/member.
(e) Partner(s) of firm(s) applying in their individual name
or proprietary firm name, simultaneously being a
partner/paid employee of another firm which may
or may not have applied.
(f) Applications made by members whose main occupation
was not practice.
(g) Information submitted was incomplete.
(h) Application was illegible.
(i) Applications received after last date of submission.
(j) Information supplied was incorrect.
The Members and Firms are therefore advised
that they should take strict care to ensure full
compliance with instructions while filling up the
form. It may please be noted that non-adherence to
instructions will result in rejection of the application.
THE CHARTERED ACCOUNTANT APRIL 2003 1026 FORM OF APPLICATION FOR EMPANELMENT
PLEASE SEND IT TO THE INSTITUTE’S MUMBAI OFFICE BY REGISTERED POST WITH ACKNOWLEDGEMENT DUE OR BY HAND DELIVERY OR BY COURIER
OR BY SPEED POST
Information as on 1.1.2003 (To be printed or typewritten only. However, ticking in the boxes can be done by hand.)
PART I
1. Concern Name
(In case practising in individual name, please mention the name. Please do not use the prefix M/s/Mr/Mrs etc. before the concern name.)
2. Status* 0 Sole Proprietary Concern/Individual
1 Partnership Firm
3. Firm Registration No. (To be given in the case of a sole proprietary concern/
partnership firm. See also Note No. 1 at the bottom of this page.)
4. P.A.N./G.I.R. No.
5. Service-tax Registration No.
6. Address (See Note No. 2 & 3 at the bottom of this page)
Town District
State/Union Old District
Territory
Telephone No. Pin Code
Grams Fax
*TICK APPROPRIATE BOX
Note:
1. Firm Registration No. of every sole proprietary concern/partnership firm appears in the entry relating to the firm in the list of firms published
by the Institute. In the case of a member practising in individual name, please mention ‘‘N.A.’’.
2. If full address, name of town, pin code, and district is not given and filled in properly, the application is liable to rejection.
3. In the column ‘Old District’, please mention the name of the previous district only in case any new district is declared by any government.
Please tick if you had applied in the same name in earlier year(s) and also fill-up the Unique Code No(s) under each year. In case, the Unique Code No. of any year is
not available with you, please write ‘NOT AVAILABLE’.
YEAR 93-94 94-95 95-96 96-97 97-98 98-99 99-00 2000-01 2001-02 2002-03
Unique Code No.
STD Code
THE CHARTERED ACCOUNTANT APRIL 2003 1027 7. Year Of Establishment
(Please mention the year in which the firm was established. In case of individuals, the year of obtaining Certificate of Practice should be mentioned.)
8. Date since which the firm has an FCA partner (first state the date, then month and then year) – –
(In case of partnership firms only. For others, state `N.A.’ or ‘Not Applicable’.)
9. Date since which the status of the firm as a partnership firm has been continuing – –
(In case of partnership firms only. For others, state ‘N.A.’ or ‘Not Applicable’)
10. Normal Working Hours_______________To________________
11 . Particulars of Partners/Sole Proprietor (please fill up Annexure A)
(In case a member is practising in individual name, particulars of such member to be given)
(a) Numbers of FCAs____________
(b) Number of ACAs____________
(c) Total [(a)+(b)]_______________
12. Number of paid chartered accountant employees in the concern
Full time
Part time
Total
(Please fill up Annexure B)
13. Number of unqualified audit staff in the concern (including branches):
(a) Audit clerks
(b) Articled clerks
(c) Other audit staff
(excluding administrative staff)
Total
14. Number of branches (i) in India (ii) outside India
(Please fill up Annexure C)
15. Indicate whether any partner(s)/proprietor of the concern is/are partner(s) or proprietor or paid employees of any other concern of chartered accountants or
is practising as an individual
Yes No
16. Indicate whether any paid chartered accountant employee(s) of the concern is/are partner(s) or proprietor or paid employee in any other concern of chartered
accountants or is practising as an individual
Yes No
[Please fill up Annexure D (ii)]
TICK THE APPROPRIATE BOX
* A partner/proprietor of a concern shall not be deemed to be exclusively associated with the concern if he is also a partner or proprietor in any other concern of chartered
accoutants or is also practising as an individual.
Exclusively associated with the concern* Others Total
[Please fill up Annexure D (i)]
THE CHARTERED ACCOUNTANT APRIL 2003 1028 17. Whether there has been any change in the constitution of the firm during the period 1-1-2002 to 1-1-2003?
Yes No
(Please fill up Annexure E)
PART II
18. Experience In Bank Audit As Statutory Auditor Of Head/Central Office/Branches
(Please fill up Annexure F)
(a)Does the concern have previous If yes, indicate the length of experience: Total Experience: years
experience of statutory audit of banks/branches
Also please tick the following:-
10 years or more 5 to 9 years
Yes No 3 to 4 years Less than 3 years
(b)Do partners/proprietor have experience of statutory If yes, indicate in the appropriate box, how many partners/proprietor
audit of banks/branches (a partner/proprietor will be considered have this experience (e.g., if 3 partners have experience of more than
to have such experience only if he signed the audit report/ 10 years, indicate ‘3’ in the first box).
conducted the audit)? 10 years or more 5 to 9 years
Yes No 3 to 4 years Less than 3 years
19. Whether the concern or any partner of the firm or the proprietor has been associated in any capacity other than as statutory central/branch auditor with any
of the public sector banks/regional rural banks/co-operative banks/co-operative societies since 1.4.2002 upto 1.1.2003?
Yes No
(Please fill up Annexure G)
THE CHARTERED ACCOUNTANT APRIL 2003 1029
20. Whether the concern or any partner of the firm or the proprietor is or was during the past calender year
indebted to any public sector bank/regional rural bank/co-operative bank/co-operative society?
Yes No
(Please fill up Annexure H)
21. Whether any partner of the firm or the proprietor is or was during the past calender year director in any public sector bank/
regional rural bank/co-operative bank/co-operative society?
Yes No
(Please fill up Annexure I)
22. Experience in Concurrent/Internal/Income and Expenditure or Revenue Audit of Bank Branches or Stock Audit/Audit of Borrowers’ Accounts
(Please fill up Annexure J):
(a) Does the concern have experience in concurrent audit, internal audit, or income and
expenditure/revenue audit of bank branches or Stock Audit/Audit of Borrowers’ Accounts
Yes No
If Yes, indicate the length of experience: Total Experience: Years
Also please indicate the following:-
10 years or more 5 to 9 years
3 to 4 years Less than 3 years
(b) Do partners/proprietor have experience in concurrent audit, internal audit, or income and expenditure/revenue audit of bank branches or
Stock Audit/Audit of Borrowers’ Accounts (a partner/proprietor will be considered to have such experience only if he signed
the audit report/conducted the audit)?
Yes No
If yes, indicate in the appropriate box, how many partners/proprietor have this experience :
10 years or more 5 to 9 years
3 to 4 years Less than 3 years
THE CHARTERED ACCOUNTANT APRIL 2003 1030 PART III
Additional Information
Please refer (1) (c) under ‘General Information & Caution’ at the beginning of this form.
-- EDP audit means auditing in a computerised environment
-- Options and other derivatives refer to the whole gamut of derivative instruments not only to those in use in India.
__________________________________________________________________________________________________________________________
23. Experience of firm/partners/proprietor in EDP audit of Head/Central Office/Branches of Banks. (Please fill Annexure K)
(a) Does the firm have previous experience of EDP audit of banks/branches?
Yes No
If Yes, indicate the length of experience (number of years)
(b) Do partners/proprietor have experience in EDP audit of banks/branches (a partner/proprietor will be considered to have such experience only if he
signed the audit report/conducted the audit)?
Yes No
If yes, indicate the total length of experience of all partners/proprietor (number of years)
24. Experience of firm/partners/proprietor in EDP audit of Head Office/branches of companies/organisations other than banks.
(a)Does the firm have previous experience of EDP audit of Head Office/Branches of companies/Organisations other than banks?
Yes No
If Yes, indicate the length of experience (number of years)
(b)Do partners/proprietor have experience of EDP audit of Head Office/Branches of companies/Organisations other than banks
(a partner/proprietor will be considered to have such experience only if he signed the audit report/conducted the audit)?
Yes No
If Yes, indicate the following:
(i) Total number of partners/proprietor who have experience in EDP audit of companies/Orgnisations other than banks
(ii) Total experience of partners/proprietor in number of years
THE CHARTERED ACCOUNTANT APRIL 2003 1031
25. Skills to examine the transactions relating to new products recently introduced such as options, derivatives, etc.
(a) Do partners/proprietor possess skills to examine the above transactions?
Yes No
If yes, indicate the number of such partners/proprietor
(b) Does any Chartered Accountant employee of the firm possess skills to examine the above transactions?
Yes No
If yes, indicate the number of such chartered accountant employees
26. Does the firm have any employees having knowledge of information technology, EDP audit, derivatives and allied matters?
Yes No
If yes, indicate the number of such employees
27. CPE Programmes attended by the partners/proprietor of the firm during the period from 1.1.2002 to 1.1.2003
No. CPE Hours
CPE Programmes attended(cumulative for all partners/proprietor)
No. of Partners/Proprietor who attended
28. CPE Programmes attended by the chartered accountant employees during the period from 1.1.2002 to 1.1.2003
No. CPE Hours
CPE Programmes attended (cumulative for all chartered accountant employees)
No.of Employees who attended
29. Number of other professionals employed in the concern(e.g. company secretaries, cost accountants, lawyers, MBAs engineers, etc.)
Full-time________________________
Part-time________________________
Total___________________________
THE CHARTERED ACCOUNTANT APRIL 2003 1032
30. Experience in audit of PSUs (Please fill Annexure L)
(a) Does the concern have previous experience of statutory audit of PSUs
Yes No
If yes, indicate the length of such experience: Total Experience: years.
Also please tick the following:
10 years or more 5-9 years 3-4 years less than 3 years
(b) Do partners/proprietor have experience of statutory audit of PSUs (A partner will be considered to have such experience only if he signed the audit
report/conducted the audit)
Yes No
If yes, indicate in the appropriate box, how many partners/proprietor have this experience.
10 years or more 5-9 years 3-4 years less than 3 years
31. Experience in audit of companies(other than PSUs) (Please fill Annexure M)
(a) Does the concern have previous experience of Statutory Audit of Companies(other than PSUs)?
Yes No
If yes, indicate the length of such experience: Total experience years.
Also please tick the following:-
10 years or more 5-9 years 3-4 years less than 3 years
(b) Do partners/proprietor have experience of Statutory Audit of Companies(other than PSUs)
Yes No
If yes, indicate in the appropriate box, how many partners/proprietor have this experience
10 years or more 5-9 years 3-4 years less than 3 years
32. Experience in audit of other entities (Please fill Annexure N)
(a) Does the concern have previous experience of statutory audit of other entities?
Yes No
If yes, indicate the length of such experience: Total Experience: years.
Also please tick the following:-
10 years or more 5-9 years 3-4 years less than 3 years
(b) Do partners/proprietor have experience of statutory audit of other entities
Yes No
If yes, indicate in the appropriate box, how many partners/proprietor have this experience.
10 years or more 5-9 years 3-4 years less than 3 years
THE CHARTERED ACCOUNTANT APRIL 2003 1033
33. Experience in rendering various kinds of professional services to co-operative institutions including co-operative banks (please fill up Annexure O)
(a) Does the concern have previous experience in rendering professional services (statutory audit, internal audit, management consultancy and other services,© etc.)
to co-operative institutions including co-operative banks?
Yes No
If Yes, indicate the length of such experience: Total Experience: years.
Also please tick the following:-
10 years or more 5-9 years 3-4 years less than 3 years
(b) Do partners/proprietor have experience in rendering professional services (statutory audit, internal audit, management consultancy and other services© , etc.)
to co-operative institutions including co-operative banks?
Yes No
If Yes, indicate in the appropriate box, how many partners/proprietor have this experience
10 years or more 5-9 years 3-4 years less than 3 years
34. Do any partner(s)/proprietor/chartered accountant employees have any degree/diploma/other certificate in information technology/information system audit?
(Please fill up Annexure P)
Yes No
If Yes, indicate the total numbers of partners/proprietor/chartered accountant employees having the above qualifications
35. Does the concern have previous experience in statutory audit of government/semi-government organisaations, corporations, companies, banks or cooperative
institutions?.
Yes No
If Yes, indicate the length of such experience: Total Experience: years.
Also please tick the following:-
10 years or more 5-9 years 3-4 years less than 3 years
© See Chapter 2 of ‘‘Code of Ethics’’ (ninth edition-January 2001) for definition of the expression ‘management consultancy and other services’
(reproduced at page 1056)
THE CHARTERED ACCOUNTANT APRIL 2003 1034
PART IV
LIST OF DOCUMENTS ATTACHED*
Nature of Document Document attached If the document is not attached or is not
Yes No Not applicable applicable, a statement of the reasons therefor
1. A copy of the financial statements (balance sheet
and profit and loss account along with schedules) of the
partnership firm, or of the sole proprietary concern or
individual, as the case may be (The financial statements
should relate to financial year ending on March 31, 2002)
2. A copy of the statement of total income forming part
of the income-tax return for the Assessment
Year 2002-2003 of the firm/proprietor/
individual along with a copy of acknowledgement.
In case no return has been filed for the assessment year
2002-2003, a statement of computation of total income
for the said assessment year in accordance with the provisions
of the Income-tax Act, 1961, should be attached.
3. A copy of the latest available assessment order
of the firm/proprietor/individual.
4. A copy of the statement of total income forming part
of the income-tax return for assessment
year 2002-2003of each of the partners along with
a copy of acknowledgement (in the case of partnership
firms only). In case no return has been filed for the assessment
year 2002-2003, a statement of computation of total
income for the said assessment year in accordance with the
provisions of the Income Tax Act, 1961, should be attached.
5. A copy of the partnership deed
(in the case of partnership firms only)
6. A copy of constitution certificate as on
January 1, 2003 issued by ICAI
*TICK THE APPROPRIATE BOX
THE CHARTERED ACCOUNTANT APRIL 2003 1035
ANNEXURE A
Details Of Partners/Sole Proprietor Of The Concern
(In case a member is practising in individual name, particulars of such member to be given)
TICK THE APPROPRIATE BOX
*Please give Membership Number only, and not the region code (such as 100/200/300/400/500).
** Please fill number of years experience (of each partner/proprietor) in statutory audit of government/semi-government organisations, corporations,
companies, banks or co-operative instiutions. A partner/proprietor will be considered to have such experience only if he signed the: audit report/conducted the audit.
Whether Any Time Is Devoted
To Any Occupation/
Vocation/Business Etc. Other Than Profession
Name
(Address not
required)
Membership
Number*
Year Of
Enrol
ment
Whether
ACA FCA
Whether Main
Occupation Is
Practice
Yes No
Whether partner/
propriator/paid
employee in any
other concern (If
yes, please fill-up
Annexure D (i)
Yes No Yes No
If Yes, Please State No. Of
Hours Devoted Per Week
Including Travelling Time
Educational Institutions Others
Date of Joining the
firm
DD MM YYYY
Usual
Place of
Residence
(address not
required)
Whether
exclusively
associated
with applicant
firm
Yes No
No. of
years
experience
in
statutory
Audits**
TOTAL
THE CHARTERED ACCOUNTANT APRIL 2003 1036
Name Membership Year Of Date Of Whether Are They In Service On Usual Place Signature2
Number1 Enrolment Beginning Of Full Part3 of Residence
Continuous Time Time (address not
Employment In ACA FCA Basis Basis required)
The Concern
Total
TICK THE APPROPRIATE BOX
1Please give Membership Number only, and not the region code (such as 100/200/300/400/500)
2The signatures should correspond to those in the Institute’s records.
3 Please see Sl. No. 14 of instructions.
ANNEXURE B
Details Of Paid Chartered Accountant Employees In The Concern
DD MM YYYY
Whether partner/proprietor/
part-time
employee in any other
concern (if yes, please
fill-up Annexure D (ii)
Yes No
THE CHARTERED ACCOUNTANT APRIL 2003 1037
(a) Branches In India
Branch I
(i) Address
Town
District
State/Union Territory
Pin Code
Telephone No.
Fax No.
(ii) Name Of The Member Incharge And Membership
Number
Usual place of residence of member incharge_______________________________
(iii) Other Staff
(a) No. Of Qualified Chartered Accountants
(b) No. Of Non-Qualified Audit Assistants
Branch II
ANNEXURE C
Particulars Of Branches
(b) Branches Outside India
(i) Address
Town
District
State/Union Territory
Pin Code
Telephone No.
Fax No.
(ii) Name Of The Person Incharge And Membership Number (If any)
(iii) Other Staff
(a) No. Of Qualified Chartered Accoutants*
(b) No. Of Non-Qualified Audit Assistants
* This will also include persons possessing an equivalent qualification from an overseas professional accountancy body, e.g. Certified Public Accountants.
THE CHARTERED ACCOUNTANT APRIL 2003 1038 ANNEXURE D (i)
Details of Partners/Proprietor of the Concern being Partners or Proprietor or Paid employees in any other Concern of Chartered Accountants or Practising as an
Individual
Name of the Member Whether Whether Date Name of Firm Whether the concern is Town District State/
Partner/Pro ship Partner/ Paid since the other regis- Union
orietor/ No.* Proprietor Employee when Concern in tration Territory
in any other in any partner/ which he/she number
concern or other Proprietor/ is Partner/ of such
practising concern paid Proprietor/ concern
as individual employee Individual/
Paid Employee
Yes No Yes No DD MM YYYY Partnership Proprietor
ship/individual
TICK THE APPROPRIATE BOX
* Please give Membership Number only, and not the region code (such as 100/200/300/400/500)
THE CHARTERED ACCOUNTANT APRIL 2003 1039
ANNEXURE D (ii)
Details of paid chartered accountant employees of the concern being Partners or Proprietor or Paid Employees in any other Concern of Chartered Accountants or
Practising as an Individual
Name of the Member Whether Whether Date Name of Firm Whether the concern is Town District State/
Paid ship Partner/ Paid since the other regis- Union
Chartered No.* Proprietor Employee when Concern in tration Territory
Accountant in any other in any partner/ which he/she number
Employee concern or other Proprietor/ is Partner/ of such
practising concern paid Proprietor/ concern
as individual employee Individual/
Paid Employee
Yes No Yes No DD MM YYYY Partnership Proprietorship/
individual
TICK THE APPROPRIATE BOX
*Please give Membership Number only, and not the region code (such as 100/200/300/400/500)
THE CHARTERED ACCOUNTANT APRIL 2003 1040
ANNEXURE E
Details of changes in the constitution of firm from 1-1-2002 to 1-1--2003
Name of partner Membtership Date of joining Date of leaving
Number* the firm the firm
Only details of partners who have joined or have left the firm during the period 1-1-2002 to 1-1-2003 are required to be given.
* Please give Membership Number only, and not the region code (such as 100/200/300/400/500)
THE CHARTERED ACCOUNTANT APRIL 2003 1041
ANNEXURE F
Previous Experience In Bank Audit As Statutory Auditor Of Head/Central Office(s) Or Branches
(A) Concern
Name Of The Bank
As Statutory As Branch
Year Of Audit
Central Auditor* Auditor*
Total
Notes:
(i) Only experience as statutory auditors of head office/central office/branches should be given. Details of experience of branch audit of a public sector bank
and/or private sector bank with total deposits of the entire bank exceeding Rs 100 crore should be mentioned.
(ii) Details of the last 5 years in respect of the above mentioned audits may be given.
*TICK THE APPROPRIATE COLUMN
THE CHARTERED ACCOUNTANT APRIL 2003 1042
ANNEXURE G
Details Of Association With Public Sector Banks/Regional Rural Banks/Co-operative Banks/Co-operative Societies Since 1.4.2002 upto 1.1.2003
Name Of Bank/ Concurrent Internal Income & Expenditure/ Inspection Nominee Director Any Other
Co-operative Society Audit Audit Revenue Audit Appointed By The Assignment
Bank On The Board
Of Any Company/
Institution
Yes Yes Yes Yes Yes Yes
TICK THE APPROPRIATE BOX
THE CHARTERED ACCOUNTANT APRIL 2003 1043
ANNEXURE H
Details Of Indebtedness To Public Sector Banks/Regional Rural Banks/Co-operative Banks/Co-operative Societies (For Amounts Exceeding Rs 1,000)*
from 1-1-2002 to date of this application
Name Of The Member/Partner/Firm Indebted Membership No. Name Of The Bank/Co-operative Society
(where applicable)
*Includes outstandings in respect of credit cards
ANNEXURE I
Details Of Directorship In Public Sector Banks/Regional Rural Banks/Co-operative Banks/Co-operative Societies from 1-1-2002 to date of this application
Name Of the Bank/ Name Of The Member Membership Residential Phone Nos. Fax E-mail
Co-operative Society (Who Is Director) Number Address Office Residence Mobile
THE CHARTERED ACCOUNTANT APRIL 2003 1044
ANNEXURE J
Experience In Concurrent Audit, Internal Audit Or Income And Expenditure/Revenue Audit of Bank Branches or Stock Audit/Audit of Borrowers’ Accounts
(A) Concern
Name Of The Bank
Year Of Audit
Concurrent Audit Internal Audit
Income and Expenditure/ Stock Audit/
Revenue Audit Audit of Borrowers’ Accounts
TOTAL
(B) Partners/Proprietor (Only those who have signed the Audit Report/Conducted the Audit)
Name Of Partner/Proprietor Year Of Audit Total Experience of
Who Signed The Audit Name Of The Bank As Concurrent As Internal As Income and Partner/Proprietor In
Report/Conducted The Audit Auditor Auditor Expenditure/ Number Of Years
Revenue Auditor
Note: Details of the last 5 years in respect of the above mentioned audits may be given.
As Stock
Auditor/Auditor
of Borrowers’
Accounts
THE CHARTERED ACCOUNTANT APRIL 2003 1045 ANNEXURE K
Previous Experience In EDP Audit Of Head/Central Office(s) Or Branches of Banks
(A) Concern
Name Of The Bank
EDP Audit of Head/ EDP Audit of Branch Office*
Year Of Audit
Central Office*
Note: Details of last 5 years in respect of the above mentioned audits may be given. Total
*TICK THE APPROPRIATE COLUMN
THE CHARTERED ACCOUNTANT APRIL 2003 1046 (B) Partners/Proprietor (Only Those Who Have Signed The Audit Report/Conducted The Audit)
Name Of Partner/Proprietor Name Of The Bank EDP Audit of EDP Audit of Year Of Audit Total Experience of
Who Signed The Audit Report/ Head/Central Branch Partner/Proprietor
Conducted The Audit office* Office* In Number Of
Years
*TICK THE APPROPRIATE COLUMN
Note: Details of last 5 years in respect of the above mentioned audits may be given.
THE CHARTERED ACCOUNTANT APRIL 2003 1047
ANNEXURE L
Previous Experience In PSU Audit As Statutory Auditor
(A) Concern
Name Of The PSU
Nature of Industry*
Year Of Audit
Total
*Note: (i) Details of last 5 years in respect of the above mentioned audits may be given.
(ii) ‘Nature of Industry’ means name of the industry out of any of the industries mentioned on next page (bottom).
THE CHARTERED ACCOUNTANT APRIL 2003 1048 (B) Partners/Proprietor (Only Those Who Have Signed The Audit Report/Conducted The Audit)
Name Of Partner/Proprietor Name Of The PSU Nature of Year Of Audit Total Experience of
Who Signed The Audit Report/ Industry* Partner/Proprietor
Conducted The Audit In Number Of
Years
*Note (i) Details of last-5 years in respect of the above mentioned audits may be given.
(ii) ‘Nature of Industry’ means name of industry out of any of the industries mentioned below:-
1. Aviation
2. Oil and Gas
3. Steel
4. Chemicals, Petrochemicals
5. Fertilisers
6. Tourism
7. Tele-communication
8. Insurance
9. Mining
10. Shipping
11. Power
12. Construction
13. Banking
14. Consultancy Service
15. Engineering
16. Transport other than shipping & Aviation
17. Information Technology
THE CHARTERED ACCOUNTANT APRIL 2003 1049
ANNEXURE M
Previous Experience In Statutory Audit of Companies (other than PSUs)
(A) Concern
Name Of The Company Year Of Audit
Total
Note: Details of last 5 years in respect of the above mentioned audits may be given.
THE CHARTERED ACCOUNTANT APRIL 2003 1050 (B) Partners/Proprietor (Only Those Who Have Signed The Audit Report/Conducted The Audit)
Name Of Partner/Proprietor Name Of The Company Year Of Audit Total Experience of
Who Signed The Audit Report/ Partner/Proprietor
Conducted The Audit In Number Of
Years
Note: Details of last-5 years in respect of the above mentioned audits may be given.
THE CHARTERED ACCOUNTANT APRIL 2003 1051
ANNEXURE N
Previous Experience In Statutory Audit of Other Entities
(A) Concern
Name Of The Entity Year Of Audit
Total
Note: Details of last 5 years in respect of the above mentioned audits may be given.
THE CHARTERED ACCOUNTANT APRIL 2003 1052 (B) Partners/Proprietor (Only Those Who Have Signed The Audit Report/Conducted The Audit)
Name Of Partner/Proprietor Name Of The Entity Year Of Audit Total Experience of
Who Signed The Audit Report/ Partner/Proprietor
Conducted The Audit In Number Of
Years
Note: Details of last-5 years in respect of the above mentioned audits may be given.
THE CHARTERED ACCOUNTANT APRIL 2003 1053 Annexure O
Previous Experience In Rendering Professional Services To Co-operative Institutions Including Co-Operative Banks1
A. Concern
Name of the Institution Year Net Worth Turnover Nature of Services Rendered2
(Rs. Lakhs) (Rs. Lakhs) Statutory Internal Taxation Management Consultancy Any other services
Audit Audit Work and other Services3 (specify nature)
(B) Partners/Proprietor (only those who signed the audit report/rendered the relevant services)
Name of Name of the Year Net Worth Turnover Nature of Services Rendered2
Partner/ Institution (Rs. Lakhs) (Rs. Lakhs) Statutory Internal Taxation Management Any other services
Proprietor Audit Audit Work Consultancy (specify nature)
and other Services3
1The particulars should be given only in respect of assignments handled during the preceding five years
2Tick the appropriate column
3Please see chapter 2 of "Code of Ethics" (ninth edition-January 2001) for definition of the expression "Management Consultancy and Other Services" (reproduced at
Page 1056)
THE CHARTERED ACCOUNTANT APRIL 2003 1054 ANNEXURE P
Qualifications of partner(s)/proprietor/chartered accountant employees in Information Technology/Information System Audit
Name of the partner/proprietor/ Name of the course Name of organisation which Year Duration of the course
chartered accountant employee conducted the course
THE CHARTERED ACCOUNTANT APRIL 2003 1055 PART V
Declaration
I/We, the undersigned, as Proprietor/Partners of M/s ____________________ ________________ or as individual do hereby declare that the
particulars as given above including in Annexures A to P are as on 1.1.2003 and are complete and correct in all respects to the best of my/our knowledge
and belief. I/We hereby declare that no separate application for any of our branches or for associate concern having common partner/proprietor or in
individual name has been made. I/We undertake that I/We have gone through the instructions and terms and conditions as enclosed with the application
form and affirm that application is made as per the terms and conditions prescribed and in no way infringes the terms and conditions so prescribed.
I/We recognise that in case any of the terms or conditions so prescribed is infringed, the application is liable to be rejected.
I/We further recognise that if any of the terms or conditions is infringed or any of the statements made therein or information furnished in the application
form is not correct, I/We would be liable for disciplinary action under the Chartered Accountants Act, 1949, and Regulations framed thereunder.
I/We hereby declare that audit/other assignment allotted on the basis of information furnished in the application form will not be accepted and
carried out if the firm in whose name the application is made is not in existence at the time of audit.
I/We declare that the constitution of the firm as on 1.1.2003 shown in the application is the same as that in the contitution Certificate issued by the ICAI.
Sl. No. Name of Partner/ Membership No. PAN No. Date/dates of payment Signature*
Proprietor/Individual of the fees for the year 2002-
2003 for membership/for
issue of Certificate of Practice
Date______________
Place_____________
* 1. The declaration should be signed by the individual, or by the proprietor in the case of a sole proprietory concern, and by all the partners in the case of a partnership
firm.
2. The signatures should correspond to those in the Institute’s records.
THE CHARTERED ACCOUNTANT APRIL 2003 1056
The Definition of the expression
"Management Consultancy and
other Services"
The expression "Management Consultancy and
other Services’’ shall not include the function of statutory
or periodical audit, tax(both direct taxes and indirect
taxes) representation or advice concerning tax matters
or acting as liquidator, trustee, executor, administrator,
arbitrator or receiver, but shall include the following:
*(i) Financial management planning and financial policy
determination.
*(ii) Capital structure planning and advice regarding
raising finance.
*(iii) Working capital management.
*(iv) Preparing project reports and feasibility studies.
(v) Preparing cash budget, cash flow statements,
profitability statements, statements of sources
and application of funds etc.
(vi) Budgeting including capital budgets and revenue
budgets.
(vii) Inventory management, material handling and
storage.
(viii) Market research and demand studies.
(ix) Price-fixation and other management decision
making.
(x) Management accounting systems, cost control
and value analysis.
(xi) Control methods and management information
and reporting.
(xii) Personnel recruitment and selection.
(xiii) Setting up executive incentive plans, wage incentive
plans etc.
(xiv) Management and operational audits.
(xv) Valuation of shares and business and advice
regarding amalgamation, merger and acquisition.
(xvi) Business Policy, corporate planning, organisation
development, growth and diversification.
(xvii) Organisation structure and behaviour, development
of human resources including design and
conduct of training programmes, work study, jobdescription,
job evaluation and evaluation of work
loads.
(xviii)Systems analysis and design, and computer related
services including selection of hardware and
development of software in all areas of services
which can otherwise be rendered by a chartered
accountant in practice and also to carry out any
other professional services relating to EDP.
(xix) Acting as advisor or consultant to an issue, including
such matters as:-
(a) drafting of prospectus and memorandum
containing salient features of prospectus.
Drafting and filing of listing agreement and
completing formalities with Stock
Exchanges, Registrar of Companies and
SEBI.
(b) Preparation of publicity budget, advice
regarding arrangements for selection of (i) admedia,
(ii) centres for holding conferences of
brokers, investors, etc., (iii) bankers to issue,
(iv) collection centres, (v) brokers to issue, (vi)
underwriters and the underwriting arrangement,
distribution of publicity and issue
material including application form, prospectus
and brochure and deciding on the quantum
of issue material (In doing so, the relevant
provisions of the Code of Ethics must be
kept in mind).
(c) Advice regarding selection of various agencies
connected with issue, namely Registrars
to Issue, printers and advertising agencies.
(d) Advice on the post issue activities, e.g., followup
steps which include listing of instruments
and despatch of certificates and
refunds, with the various agencies connected
with the work.
Explanation: For removal of doubts, it is hereby
clarified that the activities of broking, underwriting
and portfolio management are not permitted.
(xx) Investment counselling in respect of securities [as
defined in the Securities Contracts (Regulation)
Act, 1956 and other financial instruments.] (In
doing so, the relevant provisions of the Code of
Ethics must be kept in mind).
(xxi) Acting as registrar to an issue and for tansfer of
shares/other securities. (In doing so, the relevant
provisions of the Code of Ethics must be kept in
mind).
(xxii) Quality audit.
(xxiii) Environment Audit.
(xxiv) Energy Audit
(xxv) Acting as Recovery Consultant in the Banking
Sector.
*consideration of "tax implications" while rendering the services at (i), (ii), (iii) and (iv) above will be considered as part of
"Management Consultancy and other Services".
THE CHARTERED ACCOUNTANT APRIL 2003 1057
According to Regulation 43(8) of the Chartered Accountants
Regulations, 1988, a chartered accountant is eligible
to train an articled clerk provided his main occupation is
the practice of the profession of accountancy at the time
of engaging clerks as well as in each of the qualifying years,
on the basis of which he claims eligibility to train articled
clerks. A similar provision exists in Regulation 68(2) in
respect of engagement of audit clerks.
The Council has laid down the following guidelines
for determination of the main occupation of members
for the purpose of their eligibility to train articled clerks:
I General
(a) The office hours of the member should be a minimum
of 35 in a week.
(b) Such office hours should be consistent with the
normal working hours and should not be before
9.00 a.m. or after 7.00 p.m.*
(c) The normal working hours for an articled clerk
should not start after 11.00 a.m. or end before 4.30 p.m.
II (a) Member engaged in full-time employment
(other than in an educational institution)
(i) The main occupation of a member engaged in full-time
employment will be employment even though he may
hold Certificate of Practice, because a member cannot
have two main occupations. Even if the office hours in
full-time employment are arranged in such a manner as to
have substantial time for practice, practice cannot be considered
as main occupation.
(ii) The timings of the employment should not at all clash
or overlap with his own office hours.
(b) Member engaged in full-time employment in an
educational institution
(i) The timings of the employment should not normally
clash or overlap with his own office hours:
(ii) If, however, the hours of the employment clash or overlap
with his own office hours, the time devoted to the
employment (including travelling time) during such
office hours should not be more than 50 per cent of the
office hours and should not exceed 20 hours in a week.
(c) Member engaged in part-time employment
(i) The timings of the employment should not normally
clash or overlap with his own office hours:
(ii) If, however, the hours of such employment clash or
overlap with his own office hours, the time devoted
to the employment (including travelling time) during
such office hours should not be more than 50 per
cent of the office hours and should not exceed 20
hours in a week.
*It may, however, be mentioned that for the articled/audit clerks
pursuing chartered accountancy course after having passed the foundation
examination and concurrently undergoing the graduation
course, the Council has decided that working hours of the principal
shall not be before 9.00 a.m. and after 8.00 p.m.
Broad Guidelines Laid Down By The Council Of The Institute To Determine Main
Occupation Of A Member For The Purpose Of Training Articled/Audit Clerks Under
Regulations 43 & 68 Of The Chartered Accountants Regulations, 1988
THE CHARTERED ACCOUNTANT APRIL 2003 1058
The Institute of Chartered Accountants of India
Anveshak, 27, Cuffe Parade, Colaba, P.B. No. 6081, Mumbai-400005
Sub: Application for empanelment for audit of branches of 27 Public Sector Banks,
statutory central and branch audit of Regional Rural Banks and other authorities
for the year 2003-2004.
I hereby acknowledge the receipt of the application from the concern
M/s*________________________________________________________________________
____________________________________________________________________________
________________Code No.____________________. No further correpsondence is necessary in
this respect and the application will be considered by the prescribed authorities in accordance with the
norms laid down by them.
Yours faithfully,
(Assistant Secretary)
* Please fill in your name and address.
(Please enclose a self-addressed stamped envelope with the form.)
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