Draft

Minutes of Meeting of the Committee on Co-operative Societies (Maharashtra) of WIRC

held on 18th November, 2010 from 11.30 am onwards at Council Hall, ICAI Bhawan, 27,
Cuffe Parade, Colaba, Mumbai - 400 005.

Members present:
CA. Dinesh Gandhi
CA. Julfesh Shah
CA. Makarand Joshi
CA. Chandrakant Pawar
CA. Shriniwas Joshi
CA. Gopal Kasat
CA. Vishal Mahajan

Invitees
CA. Mangesh Kinare
CA. Sanjeev Lalan
CA. Parag Raval

Leave of absence was granted to CA. Sunil Patodia, CA Vishnu Agarwal, CA. Satish Nade
and CA. Tushar Kanti Dable who could not attend.

Proceedings:
CA. Dinesh Gandhi Chairman of the committee took the chair and welcomed the members
present.
Agenda 1: To approve the minutes of the meeting held on 11th July, 2010.
The minutes of the meeting held on 11th July, 2010 were read and approved with minor
corrections.

Agenda 2: To discuss the matters arising out of the last minutes:

Chairman of the committee CA. Dinesh Gandhi informed the members about the proceedings of
the meeting with Hon’ble Minister of Co-operation Shri Harshavardhan Patil. The Minister of
Co-operation had assured the members that the matter of revision of fees and issue of filing of
FIRs by auditors of Co-operative societies will be considered.

Agenda 3: To discuss regarding empanelment procedures and preparation of panel for

Audit of Urban Credit Bank & Urban Co-operative Societies.
The Chairman of the committee informed the members that there are several objections raised
from auditors against the changes in the allotment system. There were two informal meetings
conducted one on 6th August, 2010 and second on 11th October, 2010. In the meeting on 6th
August, 2010 there was a discussion about the marking system to be followed. The committee
members had a brief discussion on the minutes of the informal meeting on 11 th October, 2010.
The main suggestions made were to avoid human interference in allotment procedure.

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The Chairman made the members aware that the entire empanelment procedure was being done
with the consultation and guidance of Professional Development Committee of ICAI. The
department has requested WIRC of ICAI to prepare the panel as per prescribed norms. The
department has given a letter for empanelment procedure for UCB’s . They have also requested
to form a separate panel for Co-operative societies dtd. 5/10/2010. The Professional
Development Committee devised a online system , uploaded it on the website and link has been
given to WIRC. Mass advertisement regarding this empanelment procedure to made online has
also been done.
The Chairman of the committee CA. Dinesh Gandhi briefly explained to the members about the
online procedure that will be followed for empanelment. Partnership firms can apply for UCB’s
and proprietor members can apply for societies. The partner who has made application in UCB
can’t apply in societies. The entire system will be on marking system. Accordingly bands will be
prepared based on working capital positions. There will be a pooling period of 2 years and
accordingly the firms will get upgraded. Small firms will get small bands and thus 95% of the
firms will be covered.
The necessity of Affidavit from CA has been removed. The Officers from the Institute itself will
be certifying . Mr. Koshy John, Deputy Secretary WIRC has been entrusted with this work. Mr.
Koshy John briefly summarized before the committee the queries that have been raised through
mail by applicants. It was decided the all the queries across the region to be diverted to the
Chairman and website clarification to be given.

Agenda 4: To discuss future activities/programs of the committee.

The Chairman of the committee informed the members that there was a meeting with the
Minister of Co-operation pertaining to the circular dated 27th January, 2011. The matter put forth
was that this circular will create problems and should be withdrawn. But the department did not
agree to do so as implementation of the circular had already started. But the Hon’ble Minister
assured the members that it will be removed from next time onwards.

The committee members decided to organize more programs on Common Accounting System.

Agenda 5: Any other matter with the permission of the chair.

There being no other matter, the meeting ended with a vote of thanks to the chair.

Chairman Convenor