THE AERONAUTICAL SOCIETY OF INDIA

l3-8, Indraprastha Estate, New Delhi- 110 002

Phone No. 23370516, 23370058 Fax: 011 - 23370768
web www.aerosociewi ndia.in
e-mail: eerosoc @bol.net.in

AGM: 69:1 oy'h December 2018.

to
ALL MEMBERS OF THE SOCIETY

Subiect: 69th Annual General Meetinq of the Societv

NOTTCE - |
Dear Member,

The 69sAnnual General Meeting of the Society shall be held on 2y'h Jan 2019 at Hyderabad,
In accordance with Rules of the Society, the Council in its meeting held on 07s Dec 2018
at New Delhi, has nominated the following persons as candidates for election at the said
Annual General Meeting, as Members of the Council for the year 2019 :

VICE PRESIDENTS MEMBERS,

Jadhav
2. Shri Jitender J . NAL 1. Dr. Tessy Thomas DRDO
2, Air Marshal RKS Shera - IAF 2. Sh MZ Siddique
3. ShriS. Pandian - tsRo 3. Shri P. Jayapal CEMILAC
4. ShriAnil Kumar - former CMD,BEL. 4. Shri K Prakash HAL
5. Dr. Bhaskar Roy - Professor 5. Dr. RK Sharma DRDO
6. Shri PS Nair - GMR Group 6. Sh Jitendra Singh DIAL
7. Dr. Anand Jacob - Hindustan 7. Sh Aravind Melligeri Aequs
Varghese University. 8. Sh MS Boora PHHL
9. Dr. R K Pant llT Mumbai
10. Dr. PV Venkitakrishnan tsRo
11. Sh Vipin Kr Sharma HAL
'12. Sh M Balakrishnan Air lndia

HONORARY SECRETARY
GENERAL.
Dr. Lalit Gupta Former Jt.
DGCA
HONORARY TREASURER
Shri Debashis Saha Spicejet
The Two immediate Past-Presidents, Chairman of Branches and the Editor of the Journal
of the Society are ex-officio Members of the Council. Since Dr. RK Tyagi has taken over
as President at the 68th AGM and Shri A S Kiran Kumar holds the position of President -
Elect, duly elected at the 68th Annual General Meeting, the posts of President and
President - Elect are not subject to election.

RuleTSwhich dealwith nominations for selection tothe Councilis reproduced in Appendix

"A" to this letter,

The Annual Audited Account along with Auditor's Report for the financial year 2016-17 is
placed at AppglljElL

This notice is also being uploaded on the website ( !4!4{39:999Slggjldbi! ) of the

Society and is also being e-mailed io altthe Branches. The Head Office of the Society shall
be happy to provide further clarifications if required.

Thanking you,

Yours sincerely,

(LALIT GUPTA)
HONORARY SECRETARY GENERAL
 APPENDIX "4"

Rule 78: After issue of the notice as mentioned in the preceding Rule, any 10
members who have paid their subscriptions for the current financial year, may
nominate within fifteen days of issue of notice and/or its posting on the official
web€ite of the Society, but not later, any other duly qualified person, (who has paid
his/her subscription or deemed to have paid his/her subscription for the Gurrent
financial year), as a candidate for election to any one or more the said offices by
depositing atthe Society's Head Office (a) such nomination in writing togetherwith
(b) the written consent of the nominee to accept office if elected. Any such
nominations received without the above mentioned documents and/or later than
15 days of the issue of notice and/or its posting on the official web-site of the
Society, shall be invalid and hence rejected. No member may nominate more than
one candidate for the same office in any year.
 CAi ROHTAS & CO.
CHARTERED ACCOUNTANTS
EMAIL- ID : rohtaseuDtaca3@email.conl

CA R.K GUPTA 5673 KATRA KJIANCHAND

ICA NAI SARAK, DELHI _ I IO()()6
PHONE:23942596
MOBILE:9810232801

AUDITORS'REPORT

L Wc have examined the Balance Sheet of The Aeronautical Societv of Ildia. 13 B.

LP.Estate, New Delhi-110002 as at 3l'' March, 2017 and also the tncome & Ertendr(rrre
account for the year ended on that date. These financial statements are the responsibiljty ot
the management. Our Responsibility is to express an opinion on these financial statenlerts
based on our audit.

2. We have conduct€d the audit in accordanc€ with audifing standards gencrally acccptcd
in lndia. These standards require that we plan and p€rlorm the audit to obtain rcasonable
assurance about whether the financial stat€m€nts are free ofmaterial misstate,Ient. /\n
audit includes examining, on a test basis, evidence suppolling the amounts and
disclosures in the financial statements. An audit also includes assessing the accounting
principles used and significant estimates made by the management, as well as evaluating
the overall frnancial statement presentation. We believe that our audit provides a
reasonable basis for our ooinion.

3. We further report that :-

a) we have obtained allthe information and explanation which to the best ofour
. knowledge and beliefwere nec€ssary for the purposes ofthe audit.
b) The Balance Sheet and Income & Expenditure accounl dealt with the feport are iJl
agreement with the books ofaccount.
c)
In our opinion and to the best ofour information and according to the ExplauatioDs
giv€n to us, the said accounts read together with the Significant Accounting Policies
and other notes thereon give a true & fair view :
i) In case ofBalance Sheet, ofthe statement of affairs as at 31"'March,20l7 and,
ii) In the case of Income & Expenditure account, ofthe Excess ollncome ovcl'
Expenditure for the year ended on that date.
FOR ROI{TAS & CO.
CHARTERDD ACCOUNTANTS
PLACE : NEW DELHI

DATE : aB^ls-a.$lY ts."rs\

(c.{ R. K. CTTPTA )
PROP. \.. .. __
 The Aeronautlcal Society of India.
13. B, l.P. Estate, New Delhl -110002
Balance Sheet As At 3lst March, 2017
CURRENT YEAR PREVIOUSYEAR
SOURCES OF FUNDS Schgdulo As At31.3.2017 as At3t.3_2016

tiabilllies & Prcvisions c

D

IOTAL 302,02q,955.03 323,539,144.87

APPLICATION OF FUNDS

TOTAL 955,03 144.87

Pr@unlino Pollcies & Notes

schedules A to J forn.n Int Oral p'n of rhe Accounb.

I
I
l^-t-
(do Acr.
I{.NO.040076

o.te : )-8-{o
 The Aeronautical Socicty of India.
13. B. l.P. Est ta. New Delhl",l 10002
Income & Exp€ndlture Accounttor the Year ended March 3lst 2017

SCHEDULE CURRENTYEAR PREVIOUSYEAR

2016-2017 20r5-2016
lNcot!|E
1,321,025.00 1,700,350.00
colporate Memborship Fe€ 750,000.00 750,000.00
Sludent Subscription & Lib|ary Fee 560,900.00 753,300.00
3,335,420.00 5,652,059 00
lnte€st on Bank SB A/Cs 391,079,00 541,166.00
14,742,760,77 22,471 ,559.11
Seminar Receiprs (TOS A./c) 104,031.00 204,651.00
Surplus from Branches H 6,061,540.54, 8,910,992.26

31,266,756.31 40,984p77 .37

EXPENDITURE
E,138,703.25 7,672,695.41
Stipend to Students 826,921.00 476,780.00
ColncilMeeting & AG[,] Exps. 1,036,621.00 1,450,761.00
1,234,166.00 1,439,096.00
304,418.00 328,205,00
Repair & Mainr.(Buirding) 291,918.00 61,859.00
1,175,424.00 106,254,00
Annual Grants to Branches 1,800,000.00 1,700,000.00
G6nts 10 JounalOfilce for Public€tion ofJoornats 1,460,000.00 1,120,000.00
G€nts to B€nches ior Seminars 925,000.00 559,400.00
Priz6 & Awa.d Expenses 341,401.00 272,521.00
Dr APJ Abdul Kalam MomorialDay Exp€nses 417,629.00
220,178.00 285.895.00

Total {B)
Exc€ssollncom€overExp€ndlture (A-B) 13,094,377.06
Less : Provislon for LTax tor Currant Year 4,491,529.00 8,844,236.00
Balancs hcome lrld To G€n€ral Fund 8,602,848.06 16,666,375,S6

,v
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oeusrrkirr sarra

M.NO.080076
Place: New Delhl h
oate: )--g-\s-Lsj/^
 The Aeronautical Societv of India.
SCHEDULES ANNEXED TO & FORMTNG PART OF THEACCOUNTS

Schedule -A GENERAL FUNDAS AT 31.03,2017

CURRENT YEAR PREVIOUS YEAR

Rs. Rs.
I. HEAD OFFICE

As per last B/S. 7,33,65,063.12 5,U,72,620.15

Add : Surplus for the year 86,02,848.06 1,66,66,375.96
Add : Prior Pedod Adjustment(Br€nch TDS) 3,68,014.00 2,95,455.01
Add :ADJUSTEMENT 1,21,991.61
Less : TDS Debited by Branch (6,40,470.51) (69,368.00)
Lo$ : l.Tax Recaivable I5-.16

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 THE AERONAUTICAL SOCIETY OF INOIA

SCHEDULE - B EARMARKED FUNDSAS AT 3t{3.2017

CURRENTYEAR PREVIOUS YEAR

RB.
I, HEAO OFFICE

AS PER LAST B/S 22,00,00,291 .52 23,67,03,384.52

Less : INCOME TAXES PAID FOR EARLIER YEARS 2,97,25,570.00 1,67,03,093.00

TOTAL (r) 19,02,7 4,721.s2 22,OO,OO,291.52

2. BRANCHES
AS PER SCHEDULE. BR.1
rorAl (2)

TOTAL(I+2) 21,86,36,288.57 24,77,61,6/,6.57

Schedule - C
CURRENT LIABILITIES & PROVISIONS ASAT 31-03-2017
A - CURRENT LIABILITIES
CURRENT YEAR PREVIOUS YEAR
Rs.
A.Head Office
OJT Application Security 2,6'1,000.00 2,30,000.00
OJT Working Security 76,000.00 47,000.00
TDS Payable 30,217.00 25,O21.OO
Audit Fees PAYABLE 30,000.00 30,000.00
Stipend Payable 1,26,643.00 54,000.00
Library Security 1,64,850.00 1,70,850.00
Stafi PF TDS 4,149.00
TOTAL ( A ) 6,92,859.00 5,56,871.00

B.Branches
As Per Schedule BR-1 4,76,889.00 12,9 1 ,795.O0

TOTAL ( B ) 4,76,889.00 12,91,795.00

TOTAL (A + B) 11,69,748.00 18,48,666.00

 THE AERONAUTICAL SOCIETY OF INDIA

Schedu|e. D STAFF PROVIDENT FUND AS AT 3,I.03-2017

STAFF PROVIDENT FUND

Rt Fs. -
As Per Lasl B/S 5,63,769.18 5,17,299.U

Add : Co tribulion Deposiled

staff 8,496.00 8,496.00
Sociely 8,496.00 8,496.00

: Interesl Credited 47,011.00 29,477.U

Less: Payment to V.N.Radhamany

Total 6,27,Tt2-14 5,63,769.18

sTAFF PROVIDENT FUND INVESTI',ENT

articulars 31.03.20t

State Bank of India - SB AJC No 201167 1,23,622.14 63,769.18

HDFC LTD FDR @ 8.30o/o - CPt695721 5,00,000.00 s,00,000.00

( DUE ON 28-9-201S )
AMOUNT RECEIVABLE FROII,,| H.O. (TDS) 4,150.00
TOTAL 5,27,772-18 5,5:t,769.18
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 THE AERONAUTICAL SOCIEry OF INDIA

Schedule - F InvestmentAsAt 31.03.2017

Particulars RATE OF INTT YEAR

Al Head Ofiice 3'I03t17 3't/03/t 6
A}GOw' SECURITIES
GOI- TAXABLE SONDS 8% 3,00,00,000.00 3,85,00,000.00

B) FIXED DEPOSITS

4.1) HDFC LTD. 4.25 - 10.250/. 4,05,00,000.00 4,55,00,000.00

8.2) PNB HOUSING FINANCE LTD 9.s0 -9.75% 5,45,00,000.00 5,95,00,000.00

8.3) LtC HOUSTNG FTNANCE Lm I . 500/6 7,00,00,000.00 7,00,00,000.00

8.4) HDFC FMP fi27 D 1,00,00,000.00

B.s) rctct PRUDENTIAL FMP 50,00,000.00

TOTAL 21,00,00,000.00 21.35.00.000.00

Bl BEnches
Fixed tlsposits with Banks
As Per Schedule BR- 2 6,61,51,997.77 6,15,70,498.81

TOTAL A+B
 I'HE AERONAUTICAL SOCIETY OF INDIA
schedule - G CURRENTASSETS ASAT 31-03-2017

Parliculars

AI HEAD OFFICE

Cash in Hand 15,943.00 27,326.OO

Bank Balancas:
Central Bank Ol India CA 107582A247 5,40,271.44 3,38,998.94
Stale Bank of India SB 201156 37,140.16 51,989.16
AXIS Bank SB tuC No 158251 91,60,973.68 3,2s,10,2U .28
AXIS Bank SB,qJC No 91101004'1105748 25,254.O0 63,593.00
Slock of lies In Hand (At Cost ) 1,35,450.00 1,35,450.00

JAGAT SINGH . ADVANCE 7,500.00

Oeposit $rith DESU 770.OO 770.00

Income Tax Recoveable 1,36,247.12 2,30,300.00

TOTAL (A) 80 1.38

B) Branches:
As Per Schedulo BR-2 1,03,99,617.11 95,59,237.46

TOTAL (B) 1,03,99,617. 237,46

TOTAL (A+B) 2,04,59,166.91 4,29,17,918.84

ADVANCE TAX 22,00,000.00

TDS F.Y 2016-17
HO 1960332.22
aRANCHES 467444.90 24,27 ,776.12
46 ,27 ,776.12
Less : Provision For lncome Tax 44,91,529.00

f ncomo Tax Recoverablo F.Y. 2016-17 1,36,247 -12

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 THE AERONAUTICAL SOCIETY OF INDIA

schedule !t ADMINISTRATION EXPENSES (HEAD OFFICE)

Particulars ious Year

2016-20'17 2015-20't6

To Salary & Estadishment 63,37,609.00 s7 ,41 ,299 .O0

To Gratuity & Leave Encashmont 55,538.00

To Conlributron to PF 8,436.00 8,496.00
To Prinling & Station€ry 1,08,824.54 52,030.00
To Postage & Courier 4,668.00 67,246.00
To Eleclricity & Water Charges 5,37,675.00 3,50,188.00
To Professionel & Legal ChaBes 4,57,200.00 2,17,130.00
To Honorariom to Auditors 30,000.00 30,000.00
To Benk Charges '|,204.O1

To Misc Expenses 1,43,901.00 82,389.00

To Telephone Expenses 1,64,519.82 1,49,727.OO
To Conveyonce 95,730.00 67,860.00
To Books & Periodicals 55,160.O0 44,940.00
To Website Developmenl Expenses 56,542.00 6,75,687.00
To Subscription- ICAS 1,35,2U.U 1,28,961.40
To Inlerest on Late Deposit TDS 1,230.00

TOTAL

l
 The Aeonau calSoctetv oftndia.
Schedule-J Accountinq Pollcles& Notos to Accounb For The Yoar End ino 31 March.20l7
a.9ls-d!!sa44e!eu!@
1.) Ba3isolAccounlinq
The f.anclalslalements are p€pared underthe Historicatcost method on accruatbasis & in accordance with
spplicable acounting slanda.ds.

2.) Revenue Recoqnition

The society follows accruslbasis of accounting with rsgard to incore &expenditure except the fo owing:
a) Gfatuityand retkement b€n€lils a€ chaqed as andwhen pald.
b) Eleclricity, Water&Telephone Expenseshave been accountsd tor on paymenl basis.
c) In resped of Aranches, in@me/ deficit is incoporated on reeipt of auditod annuat statemeni of

3,1Fixed A$etE & OeDreclatlon

Fixed Assets are shown al historic€l cosl ls$ accumulaled deprociation_ Depreciation is provided
on w tten down value method at lhe mtes p€scdbed lnd€r th€ Income Tax Rures, 1962.

Investmenls are valued atcost& inter$taccrued lheleon.

5.) Grants & Membership Fea

Grs nts to branches are treated as expenditu.e in the year of payment by Head Oflice and rhe same
are kealed as income bv b.anches.

B. !.9&{9Lqqqc!!9.
1)Assets, liabilities & suplus / d€ficil ol ths branches hava been incorporated in ths annuatshtements ofrhe account
otthe society on the basis ofauditod annual etatements ot account r€cslved f.om bE.ch6sexepl Nagt'ur
bymaking necessary adjustmenls therein to contorm with the accounting poticios adopted.

2.) PF liabilities include a som ol Rs 67333/= on account ofdisputed amount of Socieues conidburion ro PFwith
interest rorteited inrespect of dismissed staff Mr. A.K.Bhatia.

3.) h lhe opinion ofthe Management of lhe Society, tn€ current assets and toans & advances have rhe vatue
aUeasl equalto ftengulesstated in the balanc€sheelon €alisation in theordinary course olprofession &
provision forallknown liabililies have been made as stated otheNise.

4,) No p'ovrs@n for €rirement benefits like glstuity has been made in the accou.ts

5.) Povision for taxation of Rs 44915291bas boen made lor income of the Soci€ty forcurcnt year.

6.) lncome lax paid Rs 2,97,25,570.00 deducted from €armark€d tunds €p€sents the payment ot rax tiabltlty on
i.terest income on deposits of u.sDent earmadGd lunds for earlie. live Assessmenl Yoar from 2009-10 ro 201 ? .1
& 2014-15 being,inleresi in6me crediled in Ihisfund in €specrive yea6.

7.)Flgores ror p€vious y€ar have been reaffanged /€grouped whelever considercd nec€ssaryto make them
comparable with that otcurenl yearfigur€s,

9-) Schedules A to J annexed to I toming part ol lh€ accounts.

Sgnatures toscheduleAlo J annexed lo and formlng padoflhe accounts.

EcRETARY (Adm)