14 December 2008 - Limited Liability Partnership
The meeting was held as scheduled on the 14th of dec 2008, 7a.m . The meeting started off with YP. Mohit jain introducing the topic to the members. Then YP Neha Dhanuka took over the discussion forward explaining the salient features and explaining the various provisions of the act. It was followed up by YP. Prashant Dalmia who explained how a partnership firm and a company can be compared with a limited liability partnership. He also described how a partnership firm or a company can be converted into a LLP. Then YP. Neha Singhania discussed the advantages of forming an LLP, the grey areas in the bill which have not been dealt with completely , the financial disclosures required ,the audit aspect and a brief note on compulsory insurance. Finally the presentation was summarized by YP. Mohit Jain who also threw some light on the stamp duty requirements and the taxation aspect.The mentors appreciated the effort and Mr. Vikash Jain also contributed with some additional points on the topic.
After the mentors had shared their valuable insight on the topic, there was a interactive discussion among the members .The presenters satisfactorily addressed the queries of the members.
After the discussion on the topic for the day was over the members came up with ideas to make the sessions more interesting .It was decided that the meetings henceforth will have a section completely dedicated to technical issues and a group discussion on non technical issues as advised by Mr Vikash Jain. Members unanimously decided to start with a quiz contest every Sunday after the gd session.
It was decided that YP.Shovit Lakhotia , YP.Anand Prasad Shaw ,YP. Harsha Kothari and YP.Neelam Jajodia would be the quiz masters for the coming weeks respectively.
As suggested by YP. Neha Dhanuka, it was decided that the forum will have a treasurer to take care of the costs involved for carrying out the activities of the forum.YP. Neelam Jajodia was elected as the first treasurer of the forum. Every member present deposited the monthly contribution of Rs 50/- as decided.
Further, it was decided that the meetings from the next week onwards will have a Master of Ceremony to conduct and co-ordinate the discussions. YP. Neha Dhanuka, YP. Ashok Kr. Mahawar, YP. Rahul Chowdhury and YP. Rashi Chowdhury opted to be the MoC for the coming four weeks respectively. Some members also put forth ideas of organizing sporting events after the sessions .
As suggested by YP. Manisha Jajodia , it was decided that the topic for next weeks meeting will be “ THE HUTCH –VODAFONE DEAL AND ITS TAXATION IMPLICATIONS. Some other topics for debate as suggested by the forum members were Analysis Of Balance Sheet, Finance Act 2008 and Carbon credit. The speakers for the meeting on the 21st of dec ,2008 are:
1. Harsha Kothari.
2. Pragya Dhanuka
3. Ankit Tulsiyan
4. Bhavna Surana
5. Ateet Saraf
6. Atul Surana.
Each member then introduced themselves to the forum and pointed out their strengths and weaknesses. Later, members spent some wonderful time playing sports. The members also endorsed the idea of visiting orphanages and interacting with underprivileged children though the day and the timing for the same is only to be decided in the next meet on sunday 21st of dec 2008.
