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Before u knw wat is the stand of AAP over RIL and Ambani, U need to know wat is the RIL KG-BASIN GAS SCAM , Have a look here:Over the last two years, the United Progressive Alliance government has steadily lost credibility mainly because of the many cases of corruption that have been unearthed in recent months.Yet another controversy has hit the national scene with a new report by the Comptroller and Auditor General indicting India's largest private sector company, Reliance Industries Ltd, for the violation of the terms of its contract in exploring gasfields in the Krishna-Godavari Basin.If the allegations of irregularity, as indicated by the CAG, in the exploration in the KG Basin in Andhra Pradesh are true, then this could be a major factor contributing to price rise, as corruption in national assets like gas and petroleum puts inflationary pressure on the price of goods due to the high rate of fuel and transportation.The CAG has asked the Union petroleum ministry to review the decision to allow Reliance Industries to retain the entire KG-D6 block.Communist Party of India-Marxist Rajya Sabha member and trade union leaderTapan Senhas been fighting the alleged nexus between Reliance Industries and the UPA government for the last five years.Away from the media glare, his -- and his party's -- battle for years was largely unknown, but the CAG report appears to have vindicated his stand.Early in his career, Sen worked with the Steel Authority of India Limited. He has been a trade union activist since 1971 and eventually became general secretary of the CPI-M's Centre of Indian Trade Unions, CITU, a position he holds currently.He is a member of Parliament's Standing Committee on Petroleum and NaturalGas. Sen has interacted with the Prime Minister's Office regularly on the alleged irregularities committed by Reliance Industries in gas exploration in the KG Basin.In a tape-recorded interview to India, Business, Stock, Sports, Cricket, Entertainment, Bollywood, Music, Video and Breaking news, Rediffmail NG, Shopping, Sen explains in detail what he believes are the irregularities committed by Reliance Industries and how the UPA government has allowed the petrochemicals giant to get away with it.The interview was conducted after the draft CAG report was released, but before the final report was made public. Sen granted Sheela Bhatt the interview expressing apprehensions that it will not be published. "Nobody," he said, "wants to write on this huge scam which is bigger than the 2G scam."How were you introduced to the irregularities in the petroleum and gassector?It was my duty to do the follow-up of the petroleum sector because my party had assigned me that duty by making me a member of the Standing Committee on Petroleum and Gas.Besides, it is not just about my own political interest since the petroleum sector is a lifeline of the national economy in terms of fuel and energy security. So I had to take deep interest.Through competitive bidding in the National Exploration Licensing Policy, the major part of the Krishna Godavari Basin had gone to Reliance Industries and its partner Niko Resources Ltd. They discovered gas in the KG Basin.I was keeping a close watch on the time given to them, how the explorers were working, how gas was found and how the government would ensure that, finally, gas reaches consumers at an affordable price.I kept a close watch on the whole chain of development. The entire scam of KG Basin came to light through a Parliament question first asked on December 12, 2006 by me and my colleague, the late Chittabrata Majumdar. It was a joint question.We had got the information that in the KG Basin case, Reliance had placed a field development plan to produce 40 million standard cubic meters per day (MMSCMD) of gas. They placed the expenditure of $2.47 billion.After some time they submitted a renewed field development plan claiming that now they will produce 80 MMSCMD at the expense of $8.84 billion. So production capacity doubled, but expenditure was inflated almost four times.How did you come to know about it?Nobody knew this till December 2006. It came out in Parliament in the reply of the petroleum minister. Any layman can tell you that, as per textbook economics, if your production is increasing, then your expenditure per unit must come down. But, here, production cost almost quadrupled.Even if you take into account the uncertainties of the sector. . . even if you take into account the trial and error method of digging here and there, even if you take into account your wasted efforts of searching gas and exploring, and even if you take international standards for doubling production, your development cost cannot triple or quadruple.Immediately I wrote to the (then) petroleum minister Murli Deora. He acknowledged my letter and gave a standard response that the matter is being looked into.Within a few days Deora called me. He spoke to me on the issue. He told me to speak to the chief of the Directorate General of Hydrocarbons, V K Sibal -- who has now been charge-sheeted by the CBI for favouring the US firm.In my meeting with him, he (Sibal) tried hard to justify the figure of expenses given by the Reliance. I told him, 'I have access to information on what's happening around in the world of gas exploration. If you take into account wasted efforts, even then Reliance can't charge the country like this. It's a clear case of gold-plating the cost.'It would incur the government a big loss because only after recovering the cost of production would the government start getting a return on the national asset.Gas is a national asset. Reliance is the contractor and definitely it is entitled to recover the cost.But the inflated cost of Reliance has national ramifications. If the cost of gasexploration is too high, then it will affect the prices.What must be the estimated cost to the exchequer?It is not right to quantify the loss only on one account. The loss is on various accounts. Let me first tell you what happened at Sibal's level.Deora asked Sibal to arrange for a conference with me. We wanted to examine the field development cost and wanted to know how it was approved.The approval was given to Reliance in 33 days. I repeat, the renewed field development plan worth $8.84 billion was approved by the ministry in 33 days.How can such a huge cost escalation be approved in 33 days only?In the petroleum ministry, the conference took place. They could not reply to any of my questions. I told them, 'You have not presented to me your own estimate of cost of exploration. You have only presented before me the types of expenditures, cost of rigs, etc.'I told the ministry's officers, 'you haven't quantified how you have arrived at the estimate of $2.47 billion for 40 MMSCMD to $8.84 billion for 80 MMSCMD. I understand 5 to 10 per cent of cost here or there, but it can't be more than that because it's an international business'.The ministry should have allowed reasonable profit to Reliance, but before that they should have quantified it on their own. They could not convince me. I requested for an independent examination of it.No doubt, accordingly the petroleum ministry appointed an impartial agency that included a Canadian expert also.Then I got information that the Canadian company had a conflict of interest because they were earlier with Reliance. Again, the formation of the examining panel was changed.I am not a spy. These people are very powerful and they have lots of money. Anyway, the DGH stood by its decision.The independent agency also stood by DGH's decision. They never gave me that report. They communicated to me. . . orally.What did you do next?In 2007, I wrote to Prime Minister Manmohan Singh. I wrote that I am not satisfied with the petroleum ministry's presentation. I wrote four or five times to the PM. Again, I resumed my letter-writing when the petroleum ministry was deciding the pricing of KG Basin gas.High cost of gas has a bearing on prices of goods, so again I started writing letters. The government appointed the Empowered Group of Ministers.On the floor of Parliament, I questioned it because fixing of price of gas is a technical job and not a political job.A bunch of ministers cannot be the custodian of all the knowledge under the sky. For fixing of pricing of gas and petroleum, you need cost accountants and industrial engineers. Here, the EGoM was doing it.I proposed that they scrutinise the cost of production, get the price set that gives reasonable returns on cost of production. The government gives reasonable returns of 12 to 15 per cent on the cost to companies like ONGC.I said, 'For Reliance you make it 25 to 30 per cent. I wanted the technical people to decide the price of gas explored by Reliance and then let political men decide if Reliance would deliver the fuel to the common man at that price or not.'That was the political decision the government should have taken. After all, 30 per cent of power production in the country is run on gas.What happened eventually?Reliance, the company that had 'gold-plated' the expenditure of exploration, asked for a price of $4.3 per mmBtu. It was their discovery of price and they made out some formula for it, that I subsequently came to know.And the EGOM had to work on it. They claimed that they got the bidding for it and they linked it to international price of crude oil.Whatever India is producing under its own soil was linked it with the international price. I questioned the process of fixing of price.I told the government, 'You must reply what is the basis of fixing the price of $4.3 per mmBtu by Reliance.'Just to make a posture and fool the people, the government agreed to $4.2 mmBtu. A slight difference was made to say that they have not accepted what Reliance told them.There was another impropriety done to the nation.Reliance, that quoted $4.3 mmBtu to EGOM, quoted $2.34 mmBtu in the international competitive bidding of NTPC.They would not have quoted $2.34 mmBtu without keeping a satisfying profit-margin.The same Reliance is on record saying in the Supreme Court, where two brothers were fighting a legal case, on an affidavit, that their basic cost of exploring gas is much less than $2.00 mmBtu.The EGOM had all these facts before them, but still in their wisdom they obliged Reliance and fixed the price at $4.2 mmBtu. I think the gold-plating done by Reliance in the capex had the bearings on that.The country has to apply national security parameters and also the actual cost of exploration before fixing the price. What actually happened then?Even before getting commercial production Reliance started getting its profit on the asset that belongs to the people of this country. . . they (Reliance) are just a contractor.The manner in which they deceived the nation and the government and the way they fixed the price formula, they got a bonanza.NTPC has written to the government that if it fixes the price as per Reliance's claims then government-owned company NTPC will lose Rs 24,000 crore (Rs 240 billion) in its two project in Kawas and Gandhar. It was given in writing to the EGoM.What was the real game behind the scene?Mukesh Ambani's RIL backed out of the NTPC agreement. Different games were played at different times. Initially, when both (Ambani) brothers were together RIL had quoted a certain price, but when they fell out, the equations changed.Anil Ambani said he should be given gas at the price agreed with NTPC. SoRIL backed out from NTPC, too. RIL didn't bother about NTPC which is generating power for the nation.Now, a court case is going on between Reliance and NTPC.How much is the actual loss to the government?Whatever the money Reliance has to make, they have made.The government should have quantified the loss to the exchequer. The government should have calculated when would Reliance recover its cost and when would the government start sharing profits.Reliance hiked the price from $2.34 mmBtu to $4.2 mmBtu. So, fertilisers companies, power plants and common consumers are paying more to Reliance. This collective loss by the nation and to 1.2 billion people should be calculated.The cost to the nation is just not quantifiable. It's unquantifiable.You can quantify revenue generation, but not the real loss. It is due to the venture where the government and corporate played jointly.The higher capex cost means it will take longer for the government to get net revenue from the project.Reliance made the gain, and I don't know who else made the gain in the process. That's anybody's guess.There is another angle to the issue. The same Reliance sold 30 per cent stake to British Petroleum for $7.2 billion. It was approved by the government.This is a windfall for Reliance, but it is the loss to the people of India.What was Prime Minister Manmohan Singh's response to you?I wrote to him. He said, 'I have received your letters. I am having the matter looked into'. That's all. Nothing more. His stand is what stand the EGoM has taken.The government has not come out till now to admit that something wrong has been done. Prime Minister Singh has said regarding the 2G scam that, 'We live in a world of uncertainty and whether it is the Comptroller and Auditor General, whether it is a parliamentary committee. . . they analyse post facto. They have a lot more facts which were not available to those who took the decision'.But, in the KG Basin case much before the EGoM took the final view on pricing, we took pains to make the government aware of all the information. There is nothing post facto here. The prime minister can't have this excuse. Everything was in public domain.I raised (the issue) in Parliament, facts were given to the EGoM headed by (Finance Minister) Pranab Mukherjee. A greater crime has been committed here.On pricing, a committee of secretaries was appointed and they also said, 'Don't do this now. ' The Cabinet secretary and many others have directly or indirectly told the government not to fix a price of $4.2 mmBtu.The EGoM had Ministers of Power Sushilkumar Shinde, Fertilisers Ram Vilas Paswan, and the petroleum minister. I have information that the decision was not unanimous to favour Reliance in the EGoM.In their presentation to the EGoM, the power and fertilisers ministries gave their opinion against fixing the price asked by Reliance. You can get it through RTI (the Right to Information Act).Where does the matter stand now?The country stands looted and the country continues to be looted.What was the role of DGH?DGH Sibal should be punished. He was the regulator. I have demanded that he should be questioned. The approval of cost of exploration projects is given to him and he approves it.To be fair to a risk-taker like Reliance, one has to say that you can't quantify risk. When somebody is taking such a huge risk on such a huge project they would like to earn . . .That's a general statement. Yes, there are risks. This risk is not something that is immeasurable.I said, 'Please go by international standards. In this world, it is not only Reliance that is drilling into the earth or sea and finding gas'. I told you I have taken into account the risk that is involved, and the failure also.See, when Reliance filed its first field development plan they had surely taken into account the risk factor.Why did Reliance do this?They wanted to make more money.Then why did they not think of it in the first field development plan?Because they wanted to make more money. Making money doesn't have an end.Fooling the people is a kind of addiction. Once, I can fool you for $10, next time I will fool you with a bigger margin of $30.What do you think of the draft CAG report on the KG Basin contract?The CAG has said that there is a loss to the government in the KG Basin deal. Reliance has inflated cost on different counts. Whatever I have said in my 2006 letter to the government has been thoroughly vindicated in the CAG's draft report.I think DGH Sibal should be prosecuted. The production-sharing contract should be re-written and price level should be revised and the government should bring it down.It will make electricity cheaper, fertilisers cheaper and industries would benefit.Whom do you blame?I don't blame Reliance.If I get the opportunity to steal, am I going to leave it? It is the duty of the government to see that nobody takes people for a ride.There can be some defaults or mistakes in deals. This is not such case.All the facts were before the government . . . there were whistleblowers within the system, but the government turned a blind eye to them and took the decision to favour Reliance.NOW Arriving at the main tussle:THE DELHI GOVERNMENT UNDER THE LEADERSHIP OF AK DIRECTED ANTI-CORRUPTION BRANCH TO REGISTER AN FIR AGAINST RIL CHAIRPERSON MUKESH AMBANI, UNION PETROLEUM MINISTER M. VEERAPPA MOILY, FORMER PETROLEUM MINISTER MURLI DEORA AND FORMER DG HYDROCARBONS V.K. SIBAL IN GAS PRICING SCAM.The decision to order a probe was taken by the Delhi government after the perusal of a common complaint filed by eminent citizens - former Cabinet Secretary TSR Subramaniam, former Navy chief Admiral RH Tahiliani, former secretary to government of India EAS Sarma and noted Supreme Court lawyer Kamini Jaiswal.ARVIND KEJRIWAL also demanded that the central government should put its decision to hike the prices of gas in abeyance till the time the probe into the matter is completed. But the UPA govt was all in a hurry to favour RIL, and thus objected this move. Later, the DELHI HIGH court had issued a notification on halting the process of increasing the pricing of this till may end, and probably the new NDA govt under Mr.Modi would be giving a green signal to the pricing as he has not made his stand clear and never spoken on these issues..RIL's Version: Terming the FIR by erstwhile AAP government on gas pricing as "motivated" and a "political" gimmick, Reliance Industries Ltd (RIL) moved the Delhi High Court seeking its quashing on the ground that the issue fell within the domain of the Centre and is well beyond the power of the state government.A bench of Justice Manmohan has fixed the plea of RIL, which also challenges a 1993 notification according power to the Anti Corruption Bureau (ACB) of Delhi administration, for hearing on May 20.Pls spare me, for copying this entirely from the sources mentioned below.. :)source:1) Special: All about the Reliance-KG Basin controversy2) Delhi government directs Anti-Corruption branch to register FIR against Mukesh Ambani, Murali Deora, Veerappa Moily & VK Sibal

I've received an A2A for this but I must admit, I'm not someone who can make any valid conclusions on this issue.What I can contribute is the articles I had read and collected overtime so people can skim through the headlines or read and make up their own mind.There are a few things I believe:1. This controversy partly has its roots in history even before these two joined office, they were bound to clash because both of their existence depends on eliminating the other.2. The history is more important than the present events.3. Its a long story and not the whole of it is really relevant, so I've divided the answer in following sections:- A little bit of history (Who is Najeeb Jung, Who is Kejriwal plus whats happening in Delhi) - Up to 2013- A little more of history, laying the ground for Kejriwal vs. Jung (There have always been differences in the ways in which Kejriwal works and the ways in which Jung works, its evident from the time Kejriwal was first elected, to Kejriwal's resignation. BJP coming to power and threatening Jung's position while starting a major Reshuffle in Delhi's administration and weakening it in the process) - 2014- This year before the official Kejriwal vs. Jung (What is interesting about this year is the hidden role of the center to retain control and the work of the elected government in improving administration. For example: it is ironic how Modi was elevated to a top position in the party surpassing many old experienced leaders but Home Ministry finds it difficult to surpass senior IAS officers to appoint a junior officer that Kejriwal recommended to the post of his Chief Secretary) - 2015- Kejriwal vs. Jung is now official (What is relevant here is the timeline of events that are discussed about in April that lead up to the events of May and June causing the famous tussle between the LG & CM)- Conclusion - While Najeeb Jung is clearly upset over the fact that a CM who he does not report to should take an interest in what comes under his jurisdiction, AAP is upset because it needs to have more control over issues to fulfill the promises it made and ensure Delhi is not reverted to a full fledged UT as the Narendra Modi government seems to want.Details:A little bit of history1. Who is Najeeb Jung?For those of you who may not know him, he was born in 1951 and has done his post graduation in History from Delhi University and later did MA in Social Policy and Planning from London School of Economics, UK. He had joined Indian Administrative Services (IAS) in 1973 and served in Madhya Pradesh government and at several key positions for 22 years.Jung's real break came in 1984 when Madhavrao Scindia became the railway minister in the Rajiv Gandhi government. Scindia asked Jung and another officer, Asif Ibrahim (director, Intelligence Bureau), to become part of his immediate personal staff.Scindia did a lot of modernization of the railways but it was Jung who ran his office.In early 1990s, When Scindia became minister for civil aviation in PV Narasimha Rao's tenure, Jung was no longer available: he had become joint secretary (exploration) in the ministry of petroleum and natural gas. This is when the privatization of the Panna-Mukta oil fields (The Second Enron Scam: The Saga of Mukta-Panna Oil Fields By Prabir Purkayastha) took place and the contracts were given to a consortium. It was here that Jung came into contact with business houses.He then quit the civil services and went on to work with one of the private companies part of the same consortium.He also did a stint at the Asian Development Bank in the mid-1990s. His interest in energy took him to Oxford where he did a PhD in energy research.A corporate outlook helped: he worked as director (energy research) with the Reliance India-funded Observer Research Foundation, having worked in London earlier with Reliance Global Management Services.He returned in 2008-09 and, after doing this and that, was appointed vice-chancellor of the Jamia Millia University by then human resources minister, Kapil Sibal, overlooking the claim of Mushir ul Hasan, already in situ.Jung ran the university with an iron hand, sacked many students and also some teachers. To friends he said new ideas were needed on how to run universities and make them more productive. Jung also faced immense criticism from the University’s students and teachers for removing tenured professors, making senior positions contractual in an attempt to curb dissent and granting a minority status to a University famed for its non-denominational character.2. Who is Kejriwal? (Plus what is happening in Delhi)We all know him so I'll be very brief hereWhat exactly happened between the years 2010 - 2011In 2010, Kejriwal was protesting against corruption in the Commonwealth Games.Meanwhile in Delhi, Tejendra Khanna had completed three years as L-G Delhi when the CWG ended. Many were wanting him out including Sheila Dikshit and P. Chidambaram among the politicians.In 2011, Kejriwal joined several other activists, including Anna Hazare and Kiran Bedi, to form the India Against Corruption (IAC) group.Meanwhile in Delhi, March 2011 the then L-G had sent a nine-page report to the President on allegations of financial irregularities in the CWG scam against him.2011 also saw the discussion of the controversial splitting of MCD, a move supported by both Congress and BJP. The idea here was of course to weaken the administration and question the need for an elected government in Delhi.In Mar 2011, BJP to boycott meet on plan to split MCD - The Times of India. We had sought a change in the terms of reference. Why should it only look at MCD? There should be simultaneous dialogue on DDA, police and law and order. But since the terms of reference have not been amended, we have decided not to join the committee.In May 2011, Sheila Dixit's Delhi govt decides to split MCD into three parts, this was perceived as a smart manoeuvre to negate the BJP influence by ‘helping’ the Congress to get control of some part of the old municipality.In Nov 2011, Delhi Mayor Writes to Sonia Against MCD Split Opposing the proposed MCD split, Delhi Mayor Rajni Abbi shot off a letter to Congress chief Sonia Gandhi appealing to her to rise above party politics and "help realise the dreams of Rajiv Gandhi" by not supporting the demand of Chief Minister Sheila Dikshit. In her letter to Gandhi, the BJP leader said the demand for trifurcation will not only weaken the local self government but will also be harmful in the long run for Delhiites.In April 2012, BJP strikes gold in MCD elections, Cong stunned - The Times of IndiaIn November 2012, Kejriwal formally launched the Aam Aadmi Party.2013At the beginning of the year 2013, one thing was clear. Sheila Dixit's image was ruined already and Congress had realized they were going to have to let go of Delhi. Then LG Khanna had also come under criticism following the December 16 gang-rape of a 23-year-old girl, he also did not have a very cordial relationship with the Chief Minister as both were at loggerheads on range of issues.So, just five months before the national capital goes to assembly polls, probably as the last attempt by Congress to save their position in Delhi:On July 1, 2013 Dr. Najeeb Jung was named the Lieutenant Governor of Delhi by President of India. The first muslim to become Delhi's Governor. A lesser known newbie with a so called passion for service and no family connections in politics (kind of person Congress vice-president Rahul Gandhi was looking for), Jung had said he had no apprehensions about his new job, "I have no thoughts. Life is a flowing river and it continues to flow" when he was appointed. In the media though, he was hailed Najeeb Jung: The man who may run Delhi.In November 2013 Sheila Dikshit failed to get full statehood for Delhi, says Harsh VardhanIn December 2013 the Delhi Legislative Assembly elections were also held.Lieutenant Governor Najeeb Jung has recommended the imposition of President's rule in Delhi among other options to break the deadlock over formation of a new government after assembly polls returned a hung verdict in the state.But in the same month, The Congress party had offered unconditional support to the AAP to form a government and Kejriwal formed government in Delhi.A Little more of History, laying the ground for Kejriwal vs. JungJan 2014: Arvind Kejriwal as Delhi CM demanded the suspension of three police personnel and sat on dharna outside Rail Bhawan. Jung then played a somewhat constructive role, holding dialogues and appealing to Kejriwal to call off the protest. During the dharna, the LG also sent home-cooked parathas for Kejriwal.(We don't know for sure if Kejriwal ate the parathas - Pun intended!)Next month..Feb 3: Chaired by Chief Minister Arvind Kejriwal, Delhi cabinet cleared the draft of the Jan Lokpal bill.Feb 6: Solicitor General Mohan Parasaran writes to Lt. Governor Najeeb Jung terming the Jan Lokpal Bill “unconstitutional”.Feb 7: Unfazed by solicitor general’s opinion, Kejriwal said he will write to Jung on plans to enact the Jan Lokpal bill without the centre’s concurrence.Feb 10: Kejriwal met Jung and discussed various issues relating to the Jan Lokpal bill. In a statement, the Lt. Governor’s office said to avoid any dispute in the matter and to obtain full clarity, Jung has referred the issue to the law ministry for a “final opinion”.Feb 12: Union law ministry upheld Jung’s stance that centre’s nod is mandatory for introducing the Jan Lokpal bill.Feb 13: Despite law ministry’s ruling, Kejriwal decides to introduce the bill in the assembly on the first day of the special session. However, the bill could not be introduced because of repeated disruptions in the house, which finally had to be adjourned.Feb 14: Kejriwal and his cabinet ministers resigned after the bill could not be introduced. While 42 legislators - including from the Bharatiya Janata Party, the Congress, the JD-U and an Independent - voted against its introduction, 27 AAP lawmakers were for it.Feb 17: Based on the report of the Delhi Lt Governor Najeeb Jung and the recommendation of the Union Cabinet on April 15, the President has accepted the resignation of Mr. Kejriwal and also approved the imposition of President’s rule while keeping the Legislative Assembly in suspended animation.Mar 14: Addressing the 91st Annual Convocation of University of Delhi, Jung noted that the country had been blessed with great leaders and thinkers, it was now a task of the youth to build the future of the country and for that they should not only dream big but achieve them as well.Apr 14: Hold election in Delhi, Prashant Bhushan urges Lt Governor Najeeb Jung | Latest News & Updates at Daily News & AnalysisMay 14: BJP wins Lok Sabha elections. Some news reports stated Sheila Dikshit and Najeeb Jung among 18 state governors who may lose post | Latest News & Updates at Daily News & Analysis and Kejriwal Meets Najeeb JungHarsh Vardhan demands full statehood for Delhi, from the new Prime Minister | Latest News & Updates at Daily News & AnalysisJune 14: Delhi saw power cuts while Piyush Goyal asks Najeeb Jung for plan to permanently end Delhi's power woes | Latest News & Updates at Daily News & Analysisand Arvind Kejriwal meets Lt Governor Najeeb Jung over over e-rickshaw issuesJuly 14: The LG, who is in charge of administration of the Capital since February 14, said in an interview to a daily newspaper that he would call for elections the moment he was convinced that there was no possibility of any government being formed. Stating that elections were an expensive process, Jung had said that the city had been through two elections in the past six months and another election would stop the normal administration from functioning. A state can be under President's rule for up to two years, with extensions every six months.Meanwhile at Delhi administration, IAS Officers in Delhi government reshuffled | Latest News & Updates at Daily News & Analysis23 July 2014: Meanwhile at the center, Home Ministry and Centre issued a notification which favors to minimize the power of ACB of Delhi government.Aug 14: Govt formation efforts not over yet: Najeeb Jungand AAP accuses Central Government of minimising ACB's powersMeanwhile in Delhi's Admin departments, over 200 IAS officers get reshuffled.Chief Secretary D M Spolia, who was removed from the post when the Aam Aadmi Party came to power in the capital and was reappointed to the post in August replacing S K Srivastava. Of the 30 important departments, 12 departments have remained without their heads for more than a month now—Finance, Home, General Administration, Tourism, Planning, IT, Power, Social Welfare, Revenue, Higher Education, New Delhi Municipal Council and Chief Electoral Office.Such transfers have increased in frequency over the last six months and have just created confusion in the mind of the officer.Sep 14: Delhi L-G Najeeb Jung seeks permission from President to invite BJP to form government in DelhiOct 14: Meanwhile Delhi Administration sees a major reshuffle of IAS officers:Principal Secretary (Services) Shakuntala Gamlin has been given the additional charge of New Delhi Municipal Council Chairperson as current Chairman Jalaj Srivastava is going abroad for special training. Srivastava has been empanelled to the rank of Additional Secretary.Gamlin is likely to take charge on October 25. She has also been given the additional responsibility of General Administration after 1983-batch IAS officer Lalmalsawma, who was heading General Administration besides being the Principal Secretary of Social Welfare and Women and Child Development Department has been transferred to Mizoram.Environment Department Secretary Sanjiv Kumar will hold additional charge of Social Welfare and Women and Child Development Department.A 1984-batch officer, Arvind Ray has been holding the additional charge of Home Department after its head Archna Arora, a 1983 batch IAS officer, retired on September 30. Ray is the Principal Secretary (SC/ST/OBC/Minorities), and Chairman and MD of Delhi State Financial Development Corporation.S S Yadav, who heads Food and Supply Department as well as Directorate of Information and Publicity, holds the additional charge of the Tourism Department.While an IAS officer has been assigned to head two or three departments in Delhi administration, many officers serving outside the city are reluctant to join the administration that is witnessing “political uncertainty”.Nov 14: Delhi set for fresh polls, Union Cabinet approves dissolution of assembly | Latest News & Updates at Daily News & AnalysisHarsh Vardhan shunted to a low profile ministry, may not be BJP CM candidate for Delhi elections (remember he was the BJP guy publicly asking for full statehood!)As far as state administration is concerned:Nearly 60 per cent of the total budgetary allocation of Rs.16,700 crore, under the Plan head, remains un-utilised with only about a quarter of the current fiscal remaining. This while the expenditure under the non-Plan budget had crossed 60 per cent.Revenue collections declined by `3,000 crore in the current fiscal between April 14 and November 14.Of the 30 important departments, 12 were lying headless for the last three months which has led to the reshuffle of 14 IAS officers and eight Delhi, Andaman and Nicobar Islands Civil Service (DANICS) officers.The finance department was left lying almost headless after IAS officer MM Kutty joined Ministry of Environment and Forests.Shakuntala Gamlin, a 1984 batch IAS officer, who was already heading four departments, was temporarily given charge of the finance department.This year, before the official Kejriwal vs. JungJan 2015: Delhi sees more shuffles (Page on newindianexpress.com)Till Dec 2014, Shakuntala Gamlin was holding the charge of five departments. Now, Gamlin has been transferred to Power and Industries departments to replace IAS officer Arun Goyal was transferred to Mizoram in Oct 2014.Feb 2015: Exactly an year after he had resigned as Delhi Chief Minister, AAP Arvind Kejriwal took an oath as the CM again on February 14 at Ramlila Maidan after winning Delhi Elections.Kejriwal and Deputy CM Manish Sisodia had met Union Home Minister Rajnath Singh and requested him to appoint 1984 batch IAS officer Ramesh Negi as the chief secretary.The Home ministry rejected kejriwal's plea and appointed Sanjeev Nandan Sahai as the acting Chief Secretary of Delhi on February 28. (Sahai appointed as interim CS, Delhi after MHA's ‘No’ on Negi)March 2015: Home Minister Rajnath Singh approved the appointment of KK Sharma, currently serving as Chief Secretary of Delhi, to be the Delhi government’s top bureaucrat.April 2015:1 Apr 2015: Garbage piles up on Delhi roads, AAP-BJP continue fight2 Apr 2015: NGT orders Arvind Kejriwal-led govt to clean up garbage from Delhi streets04 Apr 2015: Page on dailypioneer.com5 Apr 2015: AAP to Relaunch Anti-Corruption Helpline in Delhi Today5 Apr 2015: Delhi Chief Secretary directs city administration to submit compliance of NGT orders | Latest News & Updates at Daily News & Analysis10 Apr 2015: Delhi farmers appeal to CM Arvind Kejriwal for conducting crop loss survey10 Apr 2015: Determined to make Delhi world-class city: Arvind Kejriwal11 Apr 2015: Delhi CM Arvind Kejriwal announces compensation for farmers11 Apr 2015: AAP-Led Delhi Government Now Wants CCTVs in Police Stations11 Apr 2015: CM Arvind Kejriwal writes to Bassi, demands a say in policing matters13 Apr 2015: Truckers seek Kejriwal's intervention over NGT ban17 Apr 2015: BJP asks Delhi LG Najeeb Jung to probe AAP govt's Delhi Dialogue Commission | Latest News & Updates at Daily News & Analysis18 Apr 2015: AAP govt's new anti-corruption branch makes first arrests20 Apr 2015: Janta Ka Budget: AAP begins experiment in direct democracy20 Apr 2015: Delhi CM Arvind Kejriwal suspends two NDMC employees for dereliction of duty23 Apr 2015: Farmer hangs himself at AAP rally28 Apr 2015: NGT Bans Burning of Waste in the Open in Delhi-NCR30 Apr 2015: Not obliged to send files to CM: JungMay 2015: This year, Kejriwal vs. Jung is now official01 May 2015: Arvind Kejriwal led AAP govt to enhance punishment for denial of minimum wages02 May 2015: Jung-Kejriwal faceoff: Don’t bother LG with all files, orders CM04 May 2015: Media conspiring to finish off Aam Aadmi Party, claims Kejriwal04 May 2015: Delhi L-G asserts his authority after Chief Minister order, launches Najeeb Jung against Arvind Kejriwal15 May 2015: Delhi Chief Secretary K K Sharma goes for 10-day leave.16 May 2015: Shakuntala Gamlin takes charge as Delhi chief secretary despite CM Arvind Kejriwal's directive19 May 2015: Delhi govt. replaces Principal Secretary Anindo Majumdar- Mr. Majumdar had cleared the appointment of Shakuntala Gamlin as acting CS for 10 days during the absence of K.K. Sharma25 May 2015: Delhi Chief Secretary K K Sharma resumes charge26 May 2015: Kejriwal vs Jung: Lt Governor must respect people’s mandate, says Delhi High Court- Anti-Corruption Bureau can act agianst Delhi Police: Arvind KejriwalJune 2015:1 Jun 2015: Shakuntala Gamlin writes to L-G Najeeb Jung: Minister Satyendra Jain putting pressure on me2 Jun 2015: Kejriwal-Jung Power Tussle Intensifies- Three inspectors and two sub-inspectors of Bihar Police have joined Delhi government's ACB after a request in this regard by the AAP government to Chief Minister Nitish Kumar's office. Reacting strongly to the decision, Jung's office virtually rejected the appointment of the five police officials from Bihar and reaffirmed that the ACB functions under his direct authority and control.8 Jun 2015: L-G Najeeb Jung appoints new chief of Delhi's Anti-Corruption Branch; AAP fumes9 Jun 2015: Kejriwal government rejects police commissioner appointed by L-G JungKejriwal government rejects police commissioner appointed by L-G Jung10 Jun 2015: Delhi govt moves to clip ACB chief MK Meena’s wings- This effectively means that MK Meena, who was appointed as joint commissioner in the ACB by lieutenant governor Najeeb Jung, will not able to take any key decisions on his own.19 Jun 2015: Complaint filed against Delhi ACB Chief Meena for alleged involvement in "20 lakh curtain purchase scam". - Janta Ka Reporter21 Jun 2015: Yogendra Yadav backs Arvind Kejriwal, says LG Najeeb Jung an agent of Centre for long - The Economic TimesConclusion: - Some of the politics behind Kejriwal vs. Jung has its roots in the age-old BJP vs. Congress battle and Delhi's age old status controversy, should Delhi be reverted to a UT or given full statehood?And some of it is an inevitable struggle between two different philosophies rather than a power-struggle that needs to be sorted by shifting the capital.On one side we have the bureaucrat trying to maintain Center's control over Delhi's administration, to save his own position (the point here is there will always be difference in opinion and there will always be a bureaucrat who has a job to save). He has worked in a certain manner for a considerable time and is used to seeing the big picture only (which today looks prettier than it did a few years back) and on the other side we have a young man, wanting to move at a very fast pace to clean up the debris that creates chaos in his immediate neighborhood, besides trying to save democracy in the state.Sources:Profile: Najeeb Jung, first Muslim to become Delhi’s Lt. GovernorNajeeb Jung's forefathers held positions of great powerArvind Kejriwal to form govt in Delhi, but can he deliver? - FirstpostSheila Dikshit and Najeeb Jung among 18 state governors who may lose post | Latest News & Updates at Daily News & Analysishttp://www.khaleejtimes.com/kt-article-display-1.asp?section=international&xfile=data/international/2014/February/international_February373.xmlYouth should ensure that poorest find a voice in society: Lt Governor Najeeb Jung | Latest News & Updates at Daily News & AnalysisA case to dismiss Delhi’s Lieutenant Governor Najeeb Jung | Latest News & Updates at Daily News & AnalysisAAP-Jung tussle started a year ago - The Times of IndiaHeadless at Helm in Delhi AdministrationPage on newindianexpress.comDeadlock over Delhi chief secretary as Kejriwal stands by Ramesh NegiPage on indianexpress.comChallenges for a Mega CityDelhi doesn’t need StatehoodOther Quora answers about the issues:Rohit Nigam (रोहित निगम)'s answer to Has Delhi developed under the leadership of Arvind Kejriwal?Vanita Ashar's answer to Why do people still support Arvind Kejriwal even when we can see clearly how inefficient he is in running a good government?Vanita Ashar's answer to What makes Arvind Kejriwal think that without paying lakh corporation employees civil amenities will improve in Delhi?Vanita Ashar's answer to What is the complete story behind the turmoil going on in the Aam Aadmi Party centering around Yogendra Yadav and Prashant Bhushan?Gourav Pathak's answer to Why are the IAS officers applying to be transferred from Delhi?Rohit Nigam (रोहित निगम)'s answer to New Delhi: Is it true that the municipal corporation of Delhi (MCD) is a very corrupt body? Are there any proofs or experiences to justify it?Rohit Nigam (रोहित निगम)'s answer to According to the AAP, Najeeb Jung was initially a congress agent and then a BJP agent. Is this true?***********************************

Thanks for A2A but I think institute has provided answer in detail ,Pls go through the same!The Institute of Cost Accountants of India(Statutory body under an Act of Parliament)Career ProspectsProfessional Avenues In this globalised world, organizations require professionals such as Cost Accountants (CMAs) who have specialized knowledge on business strategy and value creation. The Cost Accountant being the foundation on which the enterprises are built, the specialized education and training by the Institute make the Cost Accountant a multi-faceted professional. CMAs are driving force in all economic activities, as they are the value creator, value enabler, value preserver and value reporter.Cost Accountants are in great demand in government sector, private sector, banking & finance sector, developmental agencies, education, training & research sector as well as in service and public utility sector. Further, in view of their specialized knowledge and training, CMAs may hold top management position in public and private sectors’ enterprises like Chairman cum Managing Directors, Managing Director, Finance Director, Financial Controller, Chief Financial Officer, Cost Controller, Marketing Manager and Chief Internal Auditor and other important positions.Those CMAs managing their own businesses have found themselves as a Manager and as an Accountant can control and thereby flourish their businesses. There is no doubt that a Cost Accountant can attain the highest ladder of professional career.There is a sustained demand for qualified, trained and experienced cost accountants in India and abroad in different industries and Government Departments. Many members of the Institute are also engaged in providing professional and cost consultancy services and in teaching cost and management accountancy in Universities and Colleges.Cost accountancy edges over financial accounting. Cost accounting promotes study and adoption of scientific methods to secure maximum efficiency in industrial, commercial and other spheres, as compared to financial accounting. Financial accounting mainly draws conclusions on the basis of post facto data long after the operations are put through and expenditure were incurred enabling score keeping or at best statistical analysis. Therefore, role of cost accountants go beyond a financial accountant and they help the management in regulating production operations and processes of production.The members of the Institute are the driving force in the team of management while in employment, and as Cost Auditors, Internal Auditors, Auditors in case of VAT, Excise, SEBI, NSDL and under other statutes/ Regulatory requirements, Advisors and Consultants in practice. There are several areas of practice available for Cost Accountants, a list of which is given below:Independent practiceThere is vast scope for practice by a Cost Accountant for which he has to obtain Practice Certificate from the Institute. Details in this regard are available in the “Membership Section” of the Institute website: http://www.cmaicmai.in/external/Home.aspx. A Cost Accountant may set up the practice at his own as Proprietor or set up a new partnership firm with like-minded Cost Accountants in practice or may be admitted as new partner in the existing firm of Cost Accountants in practice. His clientele include private and public companies, large, medium and small scale undertakings, partnership and proprietary concerns, industrial, commercial and service undertakings etc. For practicing Cost Accountants the Institute issued suggested fees guidelines, which may be seen athttp://icmai.in/upload/pd/Cost_Audit_Fee_of_ICWAI.pdfThere are several areas of practice available for Cost Accountants, which are as follows:Professional Avenues for CMAs in PracticeS. No.Statute/AuthorityDescriptionAAudit Assignments(i)Central Goods & Services Tax Act, 2017Audit of Accounts & Records under Section 35(5) of Central Goods & Service Tax Act, 2017.Special Audit under Section 66(1) of Central Goods & Service Tax Act, 2017.Access to business premises under Section 71.(ii)Central Board of Excise and Customs (CBEC)Special Audit under Section 14A & 14AA of the Central Excise Act, 1944 of Central Board of Excise and Customs (CBEC).Special Audit in certain cases under Section 11 of Customs Act, 1962, as authorized by Central Board Excise and Customs.(iii)Companies Act, 2013 Section 148 (2)Vide Companies (Cost Records and Audit) Rules, 2014, G.S.R. No. 425 (E) dated 1st July, 2014 under section 148(2), ibid Cost Accountants are exclusively authorized to appoint as Cost Auditor and conduct Cost Audit as per the provisions of the Companies (Cost Records and Audit) Rules, 2014.(iv)Companies Act, 2013 Section 138 (1)Section 138(1) of the Companies Act, 2013 empowers the Cost Accountants/Firms of Cost Accountant to conduct the Internal Audit of the Class of Companies. Companies (Accounts) Rules, 2014 issued by the Government vide GSR 239 (E) dated 31st March, 2014 defines the class of companies in which the Cost Accountants/Firms of Cost Accountant can be appointed/empanelled as Internal Auditor.(v)Ministry of FinanceSpecial Audit under Customes Act, 1962 vide Circular no. 88/98-Customs., Dated 02/12/1998 issued by Ministry of Finance, Department of Revenue for Liberalisation of bonding procedures in respect of 100% EOUs;(vi)Ministry of Health & Family WelfareInternal Audit/Concurrent Audit under National Health Mission (NHM) as empowered by the Ministry of Health & Family Welfare, New Delhi.(vii)Ministry of Road Transport and HighwaysModel Concession Agreement (MCA) on infrastructure for PPP Projects in Highways empowered by Ministry of Road Transport and Highways.(viii)National Bank for Agriculture and Rural Development (NABARD)Stock audit for Working Capital Finance as prescribed by National Bank for Agriculture and Rural Development (NABARD).(ix)National Securities Depository Limited (NSDL)Internal and Concurrent Audit for depository operations under National Securities Depository Ltd (NSDL).(x)Respective Bank CircularsStock Audit, Concurrent Audit, Forensic Audit and other professional services of various Public Sector and Private Sector Banks in India. Please referAnnexure – I.(xi)State Co-operative Societies ActFinancial Audit of Cooperative Societies in states Maharashtra, Karnataka, Himachal Pradesh and West Bengal.(xii)State Co-operative Societies ActSpecial Audit i.e. Cost Audit and Performance Audit of co-operative societies under the respective Co-operative Societies Act of West Bengal, Maharashtra, Karnataka, Punjab, and Delhi.(xiii)Respective State Govt. CircularsInternal Audit in various State Public Sector Enterprises in Punjab, Tamil Nadu, Andhra Pradesh & Odisha.(xiv)Securities Exchange Board of India (SEBI)Half-yearly Internal Audit of Stock Brokers and Credit Rating Agencies as prescribed by Securities Exchange Board of India (SEBI).(xv)Securities Exchange Board of India (SEBI)Stock Brokers and Credit Rating Agencies as prescribed by Securities Exchange Board of India.(xvi)Securities Exchange Board of India (SEBI)Internal audit of Registrars to an Issue / Share Transfer Agents (RTAs) .(xvii)Telecom Regulatory Authority of India (TRAI)Audit for Metering and Billing Accuracy – authorised to conduct audit for Telecom Regulatory Authority of India (TRAI).(xviii)Various State VAT Act/ RulesStatutory Auditors under Value Added Tax Act of States. Please referAnnexure – II.BCertification Areas(i)Ministry of Commerce and Industry, Department of Industrial Policy and PromotionCertificate for verification of Local content in case of procurement for a value in excess of Rs. 10 Crores. ( Order No. P-45021/2/2017-B.E.-II dated 15th June, 2017 on Public Procurement (Preference to Make in India), Order, 2017).(ii)Companies Act, 2013Certifying e-forms which are to be filled by companies under Companies Act and Rules.(iii)Central Excise Act, 1944Certificate of Cost of production of captively consumed goods as per Rule 8 of Central Excise Act, 1944 in accordance with Cost Accounting Standard CAS – 4 issued by the Institute.(iv)Central Excise Valuation (Determination of Price of Excisable Goods) Rules, 2000Certificate for Average Cost of Transportation as per Rule 5 of the Central Excise Valuation (Determination of Price of Excisable Goods) Rules, 2000.(v)Central Electricity Regulatory Commission (CERC)Certification of various forms prescribed under the Central Electricity Regulatory Commission (CERC).(vi)Customs Act, 1962Certificate towards the amount of duty paid on the materials used for the manufacture of exported goods as indicated in Forms DBK-I,II, IIA,III, IIIA under Customs Act, 1962.(vii)Directorate of Advertising and Visual Publicity (DAVP)Certificate towards the authenticated figures of circulation, as per the Annexure XII of the DAVP guidelines representing a statement signed by the both publisher and Cost Accountant with their officials seals giving the details of newsprint and ink stored and consumed during the period.(viii)Fertilizer Industry Coordination Committee (FICC)Certificate of product wise position of production dispatches stock etc. for the year (Annexure III–A) under FICC.(ix)Fertilizer Industry Coordination Committee (FICC)Issuance of various certificates as prescribed by Fertilizer Industry Coordination Committee (FICC) in respect of certifying Cost Data for Subsidy Scheme, Transportation Claims, Escalation Claims and Equalize Freight Claims.(x)Foreign Exchange Management Act, 1999Valuation Certificate under Notification No. FEMA.298/2014-RB: Foreign Exchange Management (Transfer of Issue of Security by a Person Resident Outside India) (Third Amendment) Regulations, 2014 dated 13th March, 2014.(xi)Insurance Regulatory and Development Authority (IRDA)Certification of Application for License and renewal thereof to act as Surveyor and Loss Assessor under Insurance Regulatory and Development Authority (IRDA)(xii)Ministry of Commerce and IndustryIssuance of various certificates under Foreign Trade Policy & Procedures 2015-20 and Aayat Niryat (Import and Export) Forms (ANF). Vide http://F.No.01/94/180/468-Appendices/AM12/PC4 dated 11th October 2012, Cost Accountants are authorized to authenticate various forms and statements, under Foreign Trade Policy & Procedures 2015-20 issued by the Ministry of Commerce and Industry. Please referAnnexure – III.(xiii)Ministry of Commerce and IndustryCertifying Performa CI & C2 under Anti–Dumping as prescribed by Ministry of Commerce & Industry.(xiv)Ministry of Commerce and IndustryCertifying Statement of cost of production for Anti-dumping petition to Government of India.(xv)Ministry of Consumer Affairs, Food and Public DistributionAnnual utilization certificate under Incentive Scheme for New Sugar Factories and Expansion Projects vide Notification No. F.3 (4)/89-PC/Vol.IV of Ministry of Food Dated 28th February, 1997.(xvii)Ministry of TextileCertificate of fulfillment of Hank Yarn obligation for Textile Industry and Textile Committee Cess – Monthly Return in Form – A.(xviii)National Pharmaceutical Pricing Authority (NPPA)Certification of various Forms as mentioned in SECOND SCHEDULE of Drugs (Prices Control) Order, 1995;(xix)Reserve Bank of India (RBI)Compliance Certificate of Reserve Bank of India for Scheduled Banks/ Urban Development Banks/ Urban Co-operative Banks in respect of Consortium Arrangement / Multiple Banking Arrangements.(xx)Reserve Bank of India (RBI)Valuation Certificate as per RBI Circular No.2006-2007/224 DBOD.BP.BC No. 50 / 21.04.018/ 2006-07 dated January 4, 2007 for valuation of different classes of assets (e.g. land and building, plant and machinery, agricultural land, etc.)(xxi)Rubber Board Rubber Rules, 1955Certifying half yearly return in Form ‘N’ for Quantity of Rubber purchased & consumed by manufacturers under rule 33 (f) of the Rubber Rules, 1955.(xxii)Telecom Regulatory Authority of India (TRAI)Reporting and Audit for System on Accounting Separation- Certification Work Telecom Regulatory Authority of India (TRAI).(xxiii)e-MudhraJoin us as a Partner for issuing e-Mudhra Digital Certificates. http://e-mudhra.com/portal/Partner.aspx(xxiv)Ministry of Finance, Department of ExpenditureCertification regarding average annual financial turnover of bidder :Annexure 9 Sample Prequalification Criteria of Manual for Procurement of Goods 2017CCompanies Act, 2013(i)Companies (Cost Records and Audit) Rules, 2014As per Companies (Cost Records and Audit) Rules, 2014, the class of companies which also include foreign companies, are required to maintain “Cost Records”. Cost accountant in practice may assist the company to maintain the Cost Records as per the Companies (Cost Records and Audit) Rules, 2014.(ii)Section 2(38)An expert who has the power or authority to issue a certificate in pursuance of any law for the time being in force.(iii)Section 7(1)(b)Declaration in the prescribed form no. INC.8. form no.INC 14 that the memorandum and articles have been drawn as per the provisions and in conformity.(iv)Form DIR – 12Sections 7(1)(c), 168 & 170(2) and rule 17 of the Companies (Incorporation) Rules 2014 and 8, 15 & 18 of the Companies (Appointment and Qualification of Directors) Rules, 2014 – Particulars of appointment of Directors and the Key Managerial Personnel and the changes among them in form no. DIR 12.(v)Form INC – 14Declaration that the draft memorandum and articles of association have been drawn up in conformity with the provisions of section 8 in form No. INC.14.(vi)Form INC – 21Section 11(1)(a) read with Rule 24 of the Companies (Incorporation) Rules, 2014- Declaration prior to commencement of business or exercising borrowing powers in form No. INC 21.(vii)Form INC – 22Section 12(2) & (4) and Rule 25 and 27 of The Companies (Incorporation) Rules 2014- Notice of situation or change of situation of registered office in form no. INC 22.(viii)Form – PAS 3Section 39(4) and 42 (9) and Rule 12 and 14 Companies (Prospectus and Allotment of Securities) Rules, 2014- Return of Allotment in form no. PAS 3.(ix)Form – SH7Section 64(1) and pursuant to Rule 15 of the Companies (Share Capital & Debentures) Rules, 2014 - Notice to Registrar of any alteration of share capital in form no. SH 7.(x)Form – CHG 9Sections 71(3), 77, 78 & 79 and pursuant to Section 384 read with 71(3), 77, 78 and 79 and Rule 3 of The Companies (Registration of charges) Rules 2014 Application for registration of creation or modification of charge for debentures or rectification of particulars filed in respect of creation or modification of charge for debentures in form no. CHG 9.(xi)Form – CHG 1Sections 77, 78 and 79 and pursuant to Section 384 read with 77, 78 and 79 andRule 3(1) of the Companies (Registration of Charges) Rules 2014- Registration of creation, modification of charge (other than those related to debentures) including particulars of modification of charge by Asset Reconstruction Company in terms of Securitization and Reconstruction of Finance Assets and Enforcement of Securities Act, 2002 (SARFAESI) in form no. CHG 1.(xii)Form – CHG 4Section 82(1) and Rule 8(1) of the Companies (Registration of charges) Rules 2014- Particulars of satisfaction of charges thereof in form no. CHG 4.(xiii)Form – MGT 14Section 94(1), 117(1) and section 192 – The Companies Act, 1956- Filing of resolutions and agreements to the Registrar in form no. MGT 14.(xiv)Section 137Under form no. AOC – 4 disclosures of related party transactions.(xv)Section 143Report to the Central Government if a fraud is being or has been committed against the company by officers or employees of the company.(xvi)Section 149(4)Section 149 (4) read with Rule 5 of the Companies (Appointment and Qualification of Directors) Rules, 2014: Independent Director Possess skills, experience and knowledge in one or more fields inter alia finance to be an Independent Director.(xvii)Section 153Section 153 and & Rule 9(1) of The Companies (Appointment and Qualification of Directors) Rules, 2014 & Rule 10 of Limited Liability Partnership Rules, 2009: Digital verification of the Form DIR-3: Application for allotment of Director Identification Number(xviii)Section 196Section 196 read with Section 197 and Schedule V of the Companies Act, 2013 and pursuant to Rule 3 of the Companies (Appointment and Remuneration of Managerial Personnel) Rules 2014- Return of appointment of key managerial personnel in form no. MR 1(xix)Section 196, 197, 200, 201(1), 203(1)Section 196, 197, 200, 201(1), 203(1) and Schedule V & Rule 7 of the Companies (Appointment and Remuneration of Managerial Personnel) Rules 2014- Form of application to the Central Government for approval of appointment and remuneration or increase in remuneration or waiver for excess or over payment to Managing Director or Whole Time Director or Manager and commission or remuneration to Directors in form no. MR 2.(xx)Section 232(7)Declaration of compliance alongwith Statement to be filed with Registrar of Companies.(xxi)Section 247(1)Eligible to apply for being registered as a valuer.(xxii)Section 259(1)Appointment as Company Administrator by the tribunal.(xxiii)Section 275(1)Appointment as Company liquidator for winding up of the Company.(xxiv)Section 366Application by a company for registration in Form No. URC–1.(xxv)Section 409(3)Appointment as Technical person of Tribunal (15 years of experience is required)(xxvi)Section 432Appearance in the Tribunal for public examination of promoters/directors.(xxvii)Section 455(1)Section 455(1) read with Rule 3 of The Companies (Miscellaneous) Rules, 2014 – Application to Registrar for obtaining the status of dormant company in form no. MSC 1(xxviii)Section 455(5)Section 455(5) and Rule 7 and 8 of the Companies (Miscellaneous) Rules, 2014- Return of dormant companies in form no. MSC 3.(xxix)Rule 5(2)Nidhi Rules, 2014- Return of statutory compliances in form no. NDH 1.(xxx)Rule 5(3)Nidhi Rules, 2014- Application for extension of time in form no. NDH 2.(xxxi)Rule 21Nidhi Rules, 2014- Half yearly return in form no. NDH 3.(xxxii)Rule 8(8)As per Companies (Registration Offices and Fees) Rules, 2014, documents or form or application filed may contain a power of attorney issued to Cost Accountant.(xxxiii)Form GNL – 1Rule 12(2) of the companies (Registration offices and Fees) Rules, 2014- Form for filing an application with Registrar of Companies in form no. GNL 1.(xxxiv)Form GNL – 3Rule 12(3) of the Companies (Registration offices and Fees) Rules, 2014 – Particulars of person(s) or key managerial personnel charged or specified for the purpose of sub-clause (iii) or (iv) of clause 60 of Section 2 in form no. GNL 3.(xxxv)Rule 20(3)(ix)Rule 20(3)(ix) of the Companies (Management and Administration) Rules, 2014: Scrutinizer for supervising the Voting through electronic means (e-voting) process.(xxxvi)Form INC – 28Rule 31 of Companies (Incorporation) Rules, 2014 – Notice of the order of the Court or any other competent authority in form no. INC – 28.DOther Statutory Work(i)Calcutta High CourtValuer: Members can now apply directly as ‘Valuer’ for empanelment of Calcutta High Court.(ii)Securities and Exchange Board of India Infrastructure Investment Trusts Regulations, 2014Authorized to act as “Valuer” in respect of financial valuation under section 2(zzf) of the Securities and Exchange Board of India Infrastructure Investment Trusts Regulations, 2014 as amended on 30.11.2016.(iii)Securities and Exchange Board of India (Real Estate Investment Trusts) Regulations, 2014Authorized to act as “Valuer” in respect of financial valuation under section 2(zz) of the Securities and Exchange Board of India (Real Estate Investment Trusts) Regulations, 2014 as amended on 30.11.2016.(iv)Central Board of Direct Taxes (CBDT)Central Board of Direct Taxes (CBDT): CBDT vide their Notification no. S.O. 2670(E) recognized Cost Accountants as e-return intermediaries;(v)Central Board of Excise and Customs (CBEC)Accepting of services of the Cost Accountant’s may also be considered by the respective Commissionrates depending upon the extent of complexity of the cases as provided under Circular No.04/2006 dated 12th January, 2006 modified and its inclusion in the assessed value as extended cost of transportation;(vi)Central Board of Excise and Customs (CBEC)Audit of accounts of SEZ developer as directed by the Commissioner of Customs/Central Excise [refer Circular No. 52/2002-Customs dated 14th August, 2002];(vii)Central Board of Excise and Customs (CBEC)Certified Facilitation Centers (CFCs) – under ACES-CBEC Scheme: As per MOU with CBEC, Ministry of Finance, Cost Accountants in whole-time practice are authorized to set up Certified Facilitation Centers (CFCs) under Certified Facilitation Centre Scheme in filing various Excise and Service Tax Returns under the provisions of Central Excise Act and Service Tax Act;(viii)Central Board of Excise and Customs (CBEC)Computation of freight of time chartered/daughter vessel and its inclusion in the assessed value as extended cost of transportation [refer Circular No.04/2006 dated 12th January, 2006].(ix)Central Board of Excise and Customs (CBEC)Custom Broker: Central Board of Excise and Customs (CBEC) Amended Customs Brokers Licensing Regulations, 2013 and included the Cost Accountant qualification for Customs Brokers Examination to be held from the year 2017 onwards;(x)Central Board of Excise and Customs (CBEC)Ministry of Finance amended Circular No.18/2010 Customs dated 08.07.2010 vide Circular No 01/ 2012-Customs dated 5th January 2012 to authorize inter alia Cost Accountants to issue a certificate, certifying that burden of 4% CVD has not been passed on by the importers to any other person;(xi)Central Board of Excise and Customs (CBEC)The Commissioner of Customs/Central Excise may direct the concerned developer to get his accounts audited by a Cost Accountant nominated by him in this behalf. The expenses of and incidental to such audit shall be borne by the concerned developer, vide Circular No. 52/2002-Customs dated 14th August, 2002;(xii)Central Board of Excise and Customs (CBEC)Under Rules 6 and 7 of the Customs and Central Excise Duties Drawback Rules, 1995, the exporters may be asked to furnish the purchase invoice as to the procurement of the raw hides/wet blue leather. They should also furnish a certificate inter alia from the Cost Accountant as to the consumption and cost of processing chemicals used for its processing and other incidental overhead charges incurred;(xiii)Customs Act, 1962Certification of refund of additional duty of Customs on the goods imported for subsequent sale under Indian Customs Act;(xiv)Central Excise Valuation (Determination of Price of Excisable Goods) Rules, 2000Valuation Certificate for Cost of goods produced for Captive Consumption, in accordance with Cost Accounting Standard CAS – 4 issued by the Institute, under Rule 8 of the Central Excise Valuation (Determination of Price of Excisable Goods) Rules, 2000;(xv)Central Excise Valuation (Determination of Price of Excisable Goods) Rules, 2000Certificate for Average Cost of Transportation, in accordance with Cost Accounting Standard CAS – 5 issued by the Institute, under Rule 5 of the Central Excise Valuation (Determination of Price of Excisable Goods) Rules, 2000;(xvi)Customs Valuation (Determination of Value of Export Goods) Rules, 2007Under Rule 5 of Customs valuation (Determination of Value of Export Goods) Rules, 2007, the proper officer shall give due consideration to the cost-certificate issued by a Cost Accountant;(xvii)Customs Act, 1962Under the Fixation of brand rate of Drawback without pre-verification – Simplified procedure Scheme, unless there are any special reasons, drawback rates are to be fixed without pre-verification of the date filed, (which should be duly verified by the applicant and Cost Accountant or Chartered Accountant or Chartered Engineers) and the exporter would be authorised by provisional brand rate letters issued by the Ministry to claim the drawback rate considered admissible from the concerned Customs House(s);(xviii)Indian Council of ArbitrationAs Arbitrator: The Indian Council of Arbitration authorizes Cost Accountants and Cost Accounting Firms for empanelment in the panel of arbitrators under the category of financial experts;(xix)Insolvency and Bankruptcy Code, 2016Regulation 5 and 9 of the Insolvency and Bankruptcy Board of India (Insolvency Professionals) Regulations, 2016authorized to act as an Insolvency Professional as per the section 206 and 207 of the Insolvency and Bankruptcy Code, 2016;(xx)Foreign Exchange Management (Transfer or Issue of Security by a Person Resident Outside India) Regulations, 2017Regulation 11 of the Foreign Exchange Management (Transfer or Issue of Security by a Person Resident Outside India) Regulations, 2017 authorises Cost Accountant in practice for valuation of capital instruments of an Indian company and also under Schedule 2 - Purchase/ Sale of capital instruments of a listed Indian company on a recognised stock exchange in India by Foreign Portfolio Investors and Schedule 6 - Investment in a Limited Liability Partnership (LLP) for valuation on an arm’s length basis as per pricing methodology.(xxi)Companies (Registered Valuers and Valuation) Rules, 2017Under Annexure IV of the Companies (Registered Valuers and Valuation) Rules, 2017, the Member of the Institute of Cost Accountants of India are recognised as Registered Valuer for valuation of Securities or Financial Assets.(xxii)Indian Banks Association (IBA)Recognized Firms of Cost Accountants for Empanelment as Forensic Auditor for frauds.Reserve Bank of India mandated that in respect of all borrowing arrangement exceeding Rs. 500 crores, an Independent Evaluation Committee (IEC) would carry out an evaluation of the Techno-Economic Viability (TEV) and the proposed restructuring package. Number of Cost Accountants are members of “Independent Evaluation Committees (IEC) “.Advised all members Banks to engage Cost Accountants/Firms of Cost Accountants for Stock Audit and Risk Based Internal Audit and other Banking operations.(xxiii)Maharashtra unaided Private Professional Educational ( Regulation of Admissions and Fees ) Act,2015Member of Fee Regulating Authority under Maharashtra unaided Private Professional Educational ( Regulation of Admissions and Fees ) Act,2015EAppearance as an Authorized Representative(i)Companies Act, 2013(a) Right to legal representation: Section 432 of the Companies Act 2013;(b) Rights of a party to appear before the Bench: Regulation 19(2) of Company Law Board Regulations, 1991;(ii)Competition Commission of India (CCI)(a) Appearance before Commission:Section 35 of the Competition (Amendment) Act, 2007;(b) Right to legal representation: Appeal to the Appellate Tribunal: Section 53(1) of the Competition (Amendment) Act, 2007;(iii)Central Board of Excise and Customs (CBEC)(a) Appearance by Authorized Representative: Section 35Q of the Central Excises Act, 1944;(b) Appearance by Authorized Representative: Section 146A of the Customs Act, 1962;(c) Appearance by Authorized Representative: Rule 2(c) of Customs, Excise and Gold (Control) Appellate Tribunal (Procedure) Rules, 1982;(iv)Central Electricity Regulatory Commission (CERC)Authority to represent before the Commission: vide Notification No. 8/ (1)/99/CERC dated 27th August, 1999;(v)Depositories Act, 1996Right to Legal Representations: Section 23C, Explanation (c) of Depositories Act, 1996;(vi)Income Tax Act, 1961Appearance by Authorized Representative:Section 288 of the Income Tax Act 1961 read with Rule 50 of the Income Tax Rules, 1962;(vii)Real Estate (Regulation and Development) Act, 2016Right to legal representation: Section 56 of the Real Estate (Regulation and Development) Act, 2016;(viii)Securities Exchange Board of India (SEBI)Right to Legal Representations: Clause 22C under Conditions for listing: Chapter IV of Listing of Securities;(ix)Service TaxAppearance by Authorized Representative:Section 96D (5) of the Service Tax Act 1994;(x)Special Economic Zone (SEZ)Rights of appellant to appear before the Board: Rule 61 of the Special Economic Zone Rules 2006;(xi)Telecom Regulatory Authority of India (TRAI)Right to Legal Representation before Appellate Tribunal as per Section 17 of TRAI Act, 1997;(xii)Value Added Tax Acts/ RulesCost Accountants are authorized to appear before authorities under VAT Acts/ Rules of various State Government(s).(xiii)Central Goods & Services Tax Act, 2017.Appearance by authorized representative under Section 116 of Central Goods & Services Tax Act, 2017.FReserve Bank of India(a)For Valuation of Properties - Empanelment of Valuers. (Circular no. RBI No.2006-2007/224 DBOD.BP.BC No. 50/21.04.018/ 2006-07 January 4, 2007).(b)For certification of borrowal companies in respect of Lending under Consortium Arrangement/ Multiple Banking Arrangements. (Circular No. RBI/2008-2009/379 DBOD. No. BP.BC.110/08.12.001/2008-09 dated 10thFebruary, 2009).(c)For certification of borrowal companies in respect of Lending under Consortium Arrangement / Multiple Banking Arrangements. (Circular No. RBI/2008-2009/382 UBD. PCB.No. 49 /13.05.000/2008-09 dated 12thFebruary, 2009)(d)In respect of the Forensic Scrutiny – Guidelines for prevention of frauds (Circular no. RBI/2010-11/555 DBS. CO.FrMC.BC.No.10/ 23.04.001/2010-11 dated 31stMay, 2011 read with Circular no. RBI/2008-09/508 DBS.CO.FrMC.Bc.No.8 /23.04.001/2008-09 dated June 24, 2009 on Frauds in borrowal accounts having multiple banking arrangements and Circular no. RBI/2008-2009/183 DBOD No BP BC 46 / 08.12.001/2008-09 dated September 19, 2008 on Lending under Consortium Arrangement/ Multi Banking Arrangements).(e)For Certificate indicating fair price of capital contribution/profit share of an LLP and a valuation certificate- Foreign Direct Investment (FDI) in Limited Liability Partnership (LLP) (Circular no. RBI/201314/566 A.P. (DIR Series) Circular No. 123 dated April 16, 2014).(f)For Certificate in respect of Foreign Investment in India (Circular no. RBI/2014-15/6 Master Circular No.15/2014-15 July 01, 2014 (Amended upto February 09, 2015).(g)For certification in respect of Loans and Advances – Statutory and Other Restrictions for Lending under Consortium Arrangement/Multiple Banking Arrangement (Circular no. RBI/2014-15/64 DBOD.No.Dir.BC. 16/13.03.00/2014-15 July 1, 2014).(h)For Certification in respect of Guarantees, Co-Acceptances & Letters of Credit – UCBs (Circular no. RBI/2013-14/19 UBD.BPD.(PCB) MC No.4/09.27.000/2013-14 July 1, 2013).(i)For Certification in respect of Management of Advances – UCBs for Exchange of information–Lending under Consortium Arrangement/Multiple Banking Arrangements (Circular No.RBI/2014-15/21 UBD.BPD.(PCB) MC No.5/13.05.000/2014-15 July 1, 2014).(j)Valuation Certificate in respect of Foreign Exchange Management (Transfer of Issue of Security by a Person Resident Outside India) (Third Amendment) Regulations, 2014 (Notification No. FEMA.298/2014-RB: dated 13th March, 2014).(k)Valuation Certificate for Foreign Direct Investment (FDI) in Limited Liability Partnership (LLP) under Master Circular No. 15/2014-15 dated 1st July, 2014.Cost Accountants in Employment:As mentioned in the beginning, the Cost Accountants are most sought in the business world. There services are deemed vital in investment planning, profit planning, project management and overall managerial decision making process. Many members of the Institute are occupying the top positions in the organizations, as Chairman & Managing Director, Managing Director, Finance Director, Financial Controller, Chief Financial Officer (CFO), Cost Controller, Marketing Manager and Chief Internal Auditor etc.Cost Accountants in Government Department:Realising the importance of the profession of the Cost and Management Accountancy in the economic development of the nation, the Central Government has constituted an all-India cadre known as Indian Cost Accounts Service (ICoAS) at par with other Class-I services such as IAS, IFS etc. to advise the government in cost pricing and in framing the appropriate fiscal and tax policies.Cost Accountants in Education:University Grants Commission (UGC) has notified “UGC Regulations on Minimum Qualifications for Appointment of Teachers and Other Academic Staff in Universities and Colleges and Measures for the Maintenance of Standards in Higher Education, 2010 vide its Circular No. F.3-1/2009 dated 30th June 2010.The Regulations prescribe the minimum qualification for appointment of teaching faculty in universities and colleges in the area of Management/ Business Administration. The qualifications specified for appointment of Assistant Professor, Associate Professor and Professor in the above area and Principal/Director/Head of the Institution include First Class Graduate and professionally qualified Cost Accountant among other qualifications and subject to other requirements including qualifying NET/SLET/SET as the minimum eligibility condition for recruitment and appointment of Assistant Professors.Further Academic pursuits:A member of the Institute can get enrolled as a member of IMA USA.Recognised by the Academic Councils of many Universities in India for the purpose of admission to the Ph.D. courses in Commerce. Various Universities have recognized CMA qualification for registration as M.Phil. and Ph.D. candidates in commerce and allied disciplines.The MoU between CIMA (The Chartered Institute of Management Accountants), UK and The Institute of Cost Accountants of India introduces a new CIMA Professional Gateway examination (available from May 2009) for the students who have successfully completed the whole of the Institute’s professional examination, enabling a ‘fast track’ route into CIMA’s Strategic level examinations, final tests of professional competence and ultimately CIMA Membership.MOU between Indira Gandhi National Open University (IGNOU): As per MOU dated 11th July, 2008, IGNOU offers specialized http://B.Com and http://M.Com Programs for the students. The Students can simultaneously study the specialized http://B.Com (Financial & Cost Accounting) programme with the Institute’s Intermediate Course and specialized http://M.Com (Management Accounting & Financial Strategies) with the Institute’s final course.