Latest Expert Exchange Queries
sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
 
 
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Service Tax | Sales Tax | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Indirect Tax | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing
 
 
 
 
Popular Search: Central Excise rule to resale the machines to a new company :: VAT RATES :: empanelment :: TDS :: ARTICLES ON INPUT TAX CREDIT IN VAT :: ACCOUNTING STANDARD :: cpt :: ACCOUNTING STANDARDS :: list of goods taxed at 4% :: articles on VAT and GST in India :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: due date for vat payment :: VAT Audit :: TAX RATES - GOODS TAXABLE @ 4% :: form 3cd
 
 
News Headlines »
 Invoking Writ Jurisdiction For Income Tax Matters
 How to file income-tax returns online
 How Income Tax Returns Are Scrutinised
 All About New Income Disclosure Scheme to make Demonetisation successful
 Your deposit may draw income tax notice
 Accepting payment under IDS 2016
 New disclosure scheme could see 50% tax and 4-year limit on cash use for unaccounted deposits
 Pay 50% tax on unaccounted deposits, or 85% if caught, says Modi government
 Deadline to pay property tax in old currency extended
 Cabinet clears amendments to Income Tax Act
 Have you got interest on your income tax refund?

Ministry seeks comments from stakeholders on "MEMORANDUM FOR STANDING FINANCE COMMITTEE"
July, 29th 2014
                                  No. 1/1/2014-Stats
                                Government of India
                             Ministry of Corporate Affairs
                                 (Statistics Division)
                                                                   Date: July 25, 2014


               MEMORANDUM FOR STANDING FINANCE COMMITTEE

Subject :       Central Sector Plan Scheme "Corporate Data Management"
1. Proposal identification

1.1 Title of the proposal.

       Central Sector Plan Scheme "Corporate Data Management"

1.2 Name of the sponsoring agency (Ministry/ Department/ Autonomous Body/ Central
PSE).

       Ministry of Corporate Affairs (MCA), Government of India

1.3 Proposed duration of the proposal/Scheme.

       2014-15 to 2016-17 (First Phase) and beyond

1.4 Total cost of the proposal over the proposed duration.

       Rs. 33.94 Crore to be spent over 3 year period (2014-2017)

1.5 Nature of scheme: Central Sector/ Centrally Sponsored/Additional Central
Assistance

       Central Sector Plan Scheme

2. Proposal Category

2.1 Please indicate which category the proposal belongs to:

       New Plan Proposal not included in the current Plan period.

2.2.-2.2(b):    Not Applicable




                                           1
2.3 please indicate whether in-principle approval of Planning Commission
has been obtained.

         As per the extant procedure, In-Principle Approval of the Planning
         Commission as well as final approval of SFC Memorandum is being
         sought through this SFC Memorandum.


2.4. :         Not Applicable


3. Justification for the Proposal

3.1 The justification for taking up new/ continuing the ongoing proposal
may be provided in terms of:

i)       Demand and supply analysis to identify gaps.

         BACKGROUND

         Ministry of Corporate Affairs has been implementing an e-governance
         project, "MCA21" since 2006. It has fully automated the process of
         working and administration of the Companies Act. Companies are
         mandated to file all documents relating to incorporation, compliance,
         approvals, annual statutory returns, etc. electronically in the system. The
         process of filings has resulted in the accumulation of a plethora of
         information and MCA21 is now the electronic repository about Indian
         corporate sector. As on 31.03.2014, the system stored information about
         13.94 lakh companies registered under the Companies Act.

         However, the utilization of the electronic information available in MCA
         repository is very limited. Only few Government organizations access
         some customized corporate sector data in response to their specific
         requests on ad-hoc/ felt-need basis from time to time. Clearly, therefore,
         this wealth of information is woefully underutilized.


                                          2
At present the Ministry is sharing corporate data in terms of number of
companies' registered/closed/active/dormant, etc. along with their paid -
up capital and authorized capital in its Annual Reports and Monthly
Information Bulletins. Unit level information on financial aggregates and
non-financial information relating to Indian corporates are not available
in the public domain. The level of dissemination to other stakeholders
such as credit rating agencies, business analyst, research organizations,
etc. is very limited.

Technically speaking, general public has access to company level
information on MCA Portal under a View Public Document or VPD,
which allows inspection of company specific public documents on
payment of prescribed fees. This facility has its limitations; it is not
possible to analyse data holistically through this mode as downloading
data company by company is impractical and cumbersome. An added
disadvantage is that information in VPD is not machine-readable which
makes analysis a very cumbersome exercise.

NEED FOR PROPOSED SCHEME: DEMAND SUPPLY GAP

The Ministry has been receiving requests from government and non-
government agencies, research institutes, individual researchers etc. for
updated, authentic company level information in the complete
enumeration frame. To effectively meet this demand it is necessary that
raw data undergoes processes like data cleaning, data pre-processing, data
mining and data analytics.

Data cleaning is the critical process of detecting, correcting/ removing
inaccurate information from the database. Data cleaning would involve
activities such as identification of correct economic activity, rectification



                                  3
of misreported company finance data, and estimating/collecting missing
data for each company.

Apart from accessing information readily available in the system, there is
a need to seek supplementary information from companies as and when
needed for policy analysis and regulation, etc. Matters like employment
details, export/import revenue, external finance transactions, quarterly
performance of companies, are some of the instances where different
agencies sought such information for which enabling provision exists in
section 405 of the Companies Act, 2013. This would, however, require
additional arrangements in terms of institutional set up and expertise.

Extensive stakeholder consultations in the form of seminars, workshops,
conferences, brain-storming, research studies and surveys would be
required to develop company level data format as well as to strengthen
the process of data mining & data analysis.

JUSTIFICATION FOR THE PLAN SCHEME

Collection of Statistics relating to Companies is one of the functions
exclusively assigned to the Ministry of Corporate Affairs. The National
Data     Sharing   and    Accessibility    Policy­2012      (NDSAP-2012)
implemented by Department of Electronics and Information Technology
(DEITY) requires Ministries/Departments to disseminate government
owned shareable data and information in a proactive and periodically
updatable manner. This Policy applies to all data created, generated,
collected and achieved using public funds provided by the Government of
India.

The measures outlined above require arrangements which can be made
within the Project mode. The Project would entail conversion of statutory
information into statistical information for data analysis. Given the
                                  4
      importance of such statistical information for planning, research,
      economic analysis and other such important purposes, it is imperative that
      this Project is established as a Forward Linkage of MCA21.

      It is proposed to implement the project on a pilot basis covering only
      Listed public limited companies (about 7000 in number) during the
      remaining 3 years of the 12th Plan (pilot phase). An extended Plan
      Scheme could be considered for the next Plan Period to cover a larger
      canvas if the present pilot yields gratifying results.

      This being a pilot endeavour, definite outcomes will emerge after an
      evaluation. It is however clear that the successful implementation of the
      pilot itself will prove very useful in formulating suitable policies for
      corporates' contribution to economic growth apart from enabling scholars
      and stakeholders to develop insights in the working of major corporates
      for better accountability and transparency.

ii)   Conformity with the Plan Priorities and National objectives

      Making businesses more responsible is one of the plan priorities.
      Transparency in corporate functioning, which can be ensured through
      appropriate disclosures by the corporates, is one necessary condition for
      making business responsible. The proposed Plan Scheme is likely to aid
      in bringing more objectivity and transparency in reporting by the
      corporates.
      Dissemination of data as proposed under this scheme would help
      developing tools for Regulatory Impact Analysis, as suggested by the
      Planning Commission (See Paragraph 13.109, Pages 75-76, Volume II,
      12th Plan Document). Further, analyses of data disseminated under this
      scheme would also serve as inputs for policy determination.



                                         5
iii)   Problems to be addressed at local/regional/national levels, as the case
       may be, through scheme/project.

       The objective of the proposed plan scheme is to effect wider
       dissemination of the hitherto under-utilized corporate sector data
       available with the Ministry for evidence based decision making and better
       corporate governance.

3.2 The alternatives that have been considered before firming up the design
of the proposal may be stated. (This should also include alternate modes of
proposal delivery, e.g. outsourcing, PPP, etc. that have been considered).

       The Ministry of Corporate Affairs is the sole repository of company-level
       data/ information in respect of each and every company registered under
       the Companies Act, 1956 and Limited Liability Partnerships under the
       Limited Liability Partnership Act, 2008. The data includes confidential as
       well as shareable information; and therefore, it is felt appropriate to
       operate the proposed scheme within the Ministry.
       However, for developing IT tools in the context of data mining
       techniques, the Ministry would enlist services of IT firms/ consultants/
       outsourced personnel.
3.3 Please state whether the proposal has objectives and coverage which
overlap with projects/ schemes being implemented by the same or another
agency (Ministry/ Department/ State government). In cases of overlap,
please state why the proposal needs to be considered as a separate stand
alone effort.

       No other Ministry/ Department of the Government of India has similar
       objectives or mandate, nor do they have access to such company-level
       information. In fact, corporate sector data available with the Ministry of
       Corporate Affairs has largely remained unexploited hitherto. The
       proposed scheme seeks to fill this vacuum.




                                        6
4. Proposal Objectives and targets

4.1 The objectives of the proposal may be mentioned. These objectives
should flow from the proposal justification.

     The scheme (pilot) has four specific objectives:

     (A)     Disseminate shareable information, after cleaning of data, in
             processed/ tabular forms, for use by stakeholders (public access).

     (B)     Sharing of privileged information, after cleaning of data, in
             customised forms, for use by the Ministry and other regulatory
             bodies for regulatory purposes (privileged access).

     (C)     Encourage public discourse on various aspects of corporate growth,
             corporate governance, etc. that would enrich evidence-based
             decision-making.

     (D)     Enhance and institutionalize Ministry's in-house capabilities for
             corporate Data Mining and Information Management so as to serve
             as the most authentic and updated `knowledge-hub' for Indian
             corporate sector official data.

     These are sought to be achieved by :

     (i)     Development of software/ IT tools for data cleaning, data mining
             and data analysis;
     (ii)    Establishing and developing institutional capacity for data
             cleaning, data mining and data dissemination (called Data Mining
             Resource Facility); and
     (iii)   Encouraging research/ studies/ seminars/ workshops/ conferences
             etc. on various aspects relating to growth of the corporate sector.




                                         7
4.2 The specific targets proposed to be achieved of the proposal may be
mentioned. These targets should be necessarily measurable. These should
also be monitorable, against baseline data. The baseline may be indicated.
The targets should be in tabular form as shown below.


     It is proposed to implement the project on a pilot basis covering only
     Listed public companies (about 7000 in number) during 2014-17 (i.e.,
     remaining 3 years of the 12th Plan) as a pilot phase. It would initially
     cover all Listed companies for developing company level data format.
     Depending upon available resources, data cleaning & data mining may be
     extended to cover all public limited companies in the pilot stage.

     It may be mentioned that the present status of data quality & data sharing
     has been documented in the Reports by (i) the Committee for
     Formulation of Data Dissemination Policy of the Ministry of Corporate
     Affairs (July, 2013) and (ii) SFIO Data Mining Project (January 2014).




                                       8
                                        Monitorable Physical Targets for the Plan Scheme
      Component                      Year 1 : 2014-15                     Year 2 : 2015-16                 Year 3 : 2016-17
           (1)                              (2)                                   (3)                              (4)
Development of           (i) Finalisation of Request for        (i) Consideration of Bids and     (i) Fine-tune the programs,
software/ IT tools for   Proposals for Hiring IT firm.          award of contract. Selection of   exception handling and
data cleaning, data      (ii) Preparation of Bid documents and system integrator/ service         standardize the routines.
mining and data analysis Issue of Tenders.                      providers for development of      (ii) Internalize the skills into
                                                                computing facility.               MCA officials working on
                                                                (ii) Develop software for data    project.
                                                                cleaning.                         (iii) Synchronize with other
                                                                (iii) Determine parameters for    corporate data sources (SEBI,
                                                                recognizing patterns through      RBI, CBEC, CBDT, DGCIS
                                                                data mining and write programs.   etc.)
                                                                (iv) Commence data mining on
                                                                transferred MCA21 data.
                                                                (v) Develop software for data
                                                                analysis and generation of
                                                                public access reports according
                                                                to pre-determined tabulation
                                                                plan.
Establishing and         (i) Hiring of skilled human resources/ (i) Data cleaning and data        (i) In-house Capacity building
developing institutional TSG (recruitment/ outsourcing).        extraction, transformation and    for Data Mining and Analysis to
capacity for data        (ii) Training to MCA officials to      loading (ETL) from MCA21          gain a shape.
cleaning, data mining    access and deal with database.         Databases.                        (ii) Release of unit level data on
and data dissemination   (iii) Online Dissemination of          (ii) Designing systems to         companies finance statistics to
                         statistical (company level, non-       resolve data quality issues.      general public.
                         financial) reports to stakeholders.    (iii) Initiate activities and     (iii) Prepare and publish
                                                                finalize format for Company       Analytical reports on
                                                                level data (Unit-level data).     companies' finance.

                                                               9
                                      Monitorable Physical Targets for the Plan Scheme
      Component                     Year 1 : 2014-15                 Year 2 : 2015-16                      Year 3 : 2016-17
         (1)                              (2)                               (3)                                    (4)
                                                             (iv) Disseminate Public access        (iv) Developing platform for
                                                             non-finance data about Listed         online collection of additional
                                                             Public Companies.                     corporate sector data for
                                                                                                   providing policy inputs.
                                                                                                   (v) Generation of need-based
                                                                                                   sophisticated regulatory reports.
Encouraging research/      (i) Constitution of Technical         (i) Sponsoring of research        (i) Sponsoring of research
studies on various         Committee.                            studies, surveys, etc. on         studies, surveys, etc. on
aspects relating to        (ii) Preparation and finalisation of  corporate sector.                 corporate sector.
growth of the corporate    forms etc. for empanelment of         (ii) Organising Seminars on       (ii) Organising Seminars on
sector                     Institutions for grant-in-aid for     contemporary themes of            contemporary themes of
                           research, seminars etc.               relevance concerning corporate    relevance concerning corporate
                           (iii) Sponsoring of research studies, sector.                           sector.
                           surveys, etc. on corporate sector.
Note : Activities on each component would be taken forward to the next level in each subsequent year.




                                                                10
4.3 The outcomes of the proposal to be achieved should be indicated.
These outcomes should be in the form of measurable indicators which
can evaluate the proposal on quarterly/half yearly/annual/plan basis.

     DEVELOPMENT OUTCOMES

     At present, no institutional mechanism exists for providing
     authentic and updated statistical framework on India's corporate
     sector. The proposed Scheme seeks to address these issues by
     resolving data quality issue and establishing and institutionalizing
     Ministry's in-house capabilities for corporate Data Mining and
     Information Management.

     Further, Data Mining and Information Management would
     inevitably and implicitly reinforce monitoring of compliance by
     companies at no additional cost. Some of the expected and
     monitorable Outcomes are indicated below:

     (i)     Resolution of data quality issues (such as incorrect activity
     codes, incomplete/incorrect financial information, etc.), in respect
     of all active Listed Public companies (about 7,000 in number) in
     the pilot phase (2014-17).

     (ii)    Publication of company level information, by developing a
     standardised mechanism for effective and error-free data collection,
     validation and tabulation.

     (iii)   Establishing an authentic and updated statistical framework
     on corporate sector that will eventually provide the population
     frame for different large scale surveys.

     (iv)    Enable extraction of corporate sector data by the public,
     based on a set of pre-defined parameters and multiple options, by


                                    11
improving features and functionalities of the MCA Data
Dissemination Portal.

(v)   Establishing and nurturing a research ecosystem on issues
relating to corporate growth such as corporate governance, investor
protection, financial inclusion, financial reporting, etc. The
guidelines for funding research and studies, workshops and
conferences etc. under this scheme are at Annexure-I.

OUTPUT

(a)   Dissemination of corporate finance statistics at defined level
of aggregation.

(b)   Publication of Summary report on corporate sector
performance based upon companies finance information.

(c)   Periodic release of unit level data on company finance
statistics in a complete enumeration format for listed companies.

(d)   Conduct of workshops, seminars, conferences, etc. on
corporate governance, corporates' contribution to economic
growth, financial data analytics, data mining, financial inclusion,
etc. in collaboration with suitable institutions and agencies.

(e)   Development       of   supplementary     database    on    Indian
companies containing information not captured in MCA21 system.

(f)   Strengthening and nurturing the authentic database for
empirical research and analysis on corporate sector performance.

(g)   Creating a pool of trained resource persons for data mining,
data analytics, XBRL, etc.



                               12
     MONITORABILITY

     An Inter-Ministerial Advisory Group is proposed to be set up to
     monitor the progress in implementation of the project. The
     Advisory Group will have the following composition:

     Additional Secretary, MCA                           Chairperson
     Adviser, Planning Commission                           Member
     Joint Secretary & Financial Adviser, MCA               Member
     Joint Secretary (e-Governance), MCA                    Member
     Economic Adviser, MCA                                  Member
     Representatives of DIPP and M/o Statistics &
                                                           Members
     Programme Implementation
     Representative of Reserve Bank of India                Member
     Two Non-official experts                              Members
     Director (Statistics), MCA                     Member-Secretary



     Monitoring: Provision for Concurrent Monitoring And Evaluation
     is envisaged. Monitoring would be done on a quarterly basis by a
     team headed by Director (Statistics), MCA and comprising IT
     experts and domain experts. Evaluation is contemplated to be
     carried out by an independent agency.

4.4 Briefly explain the objectives of the other programmes/projects
undertaken by Ministry/Dept which are in convergence with the
objectives of proposed proposal.

                                  Not Applicable.

4.5 Please indicate whether the proposal is for current Plan only or
will continue in next Plan also.

     Based upon the progress in the pilot phase (2014-17), for which
     this SFC note is being moved, it is contemplated to continue the
     Plan Scheme in the next Plan Period (13th Five Year Plan) to cover

                                        13
       all companies' data and data from Limited Liability Partnerships
       (LLPs) in future.

5.    Gender Analysis of the Proposal

5.1 & 5.2 : Not Applicable.

6. Proposal design

6.1 Briefly explain the proposal Design. This should include all
components of the proposal including:

i.     Scope of the project

       The purpose of the Plan Scheme is to ensure wider dissemination of
       corporate sector data to public in a proactive manner, after
       processing and converting the raw data into user-friendly formats
       that are amenable for further analysis. The present proposal is
       envisaged to be implemented during 2014-17. It is proposed to
       cover all Listed Public companies for developing unit level data
       format during this phase. All Listed companies (about 7000 in
       number) would be covered for data cleaning and data mining in the
       pilot stage.
       It is proposed to encourage/sponsor research/ studies/ seminars/
       workshops/ conferences etc. on various aspects relating to growth
       of the corporate sector.
       It is contemplated to cover all companies' (about 9 lakh working
       companies) data and data from LLPs in the next Five Year Plan.

ii.    Assumptions used

       It is assumed that the Statutory information available in MCA21
       database shall be available to the Data Mining Resource Facility for
       improvement and value addition by way of data cleaning,

                                    14
      processing, etc. to make it amenable to further dissemination,
      studies and analysis for usage by stakeholders.

iii. Technology

      The proposed Data Mining Resource Facility (DMRF) is
      essentially a "Data Warehousing" system. The fundamental
      difference between Transactional systems (such as MCA21 system)
      and Data Warehousing systems is that Transactional systems are
      designed      to    support   transaction      processing    whereas    Data
      Warehousing         systems   are        designed   to   support   analytical
      processing.        Based on this fundamental difference, data usage
      patterns associated with Transactional systems are significantly
      different than usage patterns associated with Data Warehousing
      systems. As a result, Data Warehousing systems are designed and
      optimized using methodologies that drastically differ from that of
      Transactional systems.

iv. Size/ Specifications/ Layout Plan

      Software systems for Extract, Transform and Load (ETL) would be
      created to achieve the above objective and ensure smooth transfer
      of data. The IT interventions would involve Data cleaning, data
      mining and data processing, using software/ programs. It is
      proposed to select a suitable IT firm for this purpose. It is proposed
      to engage relevant domain-experts as a part of Technical Support
      Group for institutionalization, in-house capacity building and day-
      to-day technical support for the proposed Plan Scheme of
      Corporate Data Management.




                                          15
v. Plant & Machinery

      Computers hardware, software, servers and other peripherals would
      be procured as appropriate.

vi. Others (Please specify)

      The proposed scheme contemplates continuous inter-ministerial
      deliberations throughout the implementation of the project through
      the mechanism of the Advisory Group.

6.2 to 6.8. : Not applicable.

7. Proposal cost

7.1 Please provide the proposal cost estimate for its scheduled
duration along with a break-up of year-wise, component-wise
expenses segregated into non-recurring and recurring expenses.

      The total cost of scheme is tentatively estimated to be Rs. 33.94
      Crore as detailed in the table below.

Broad Expenditure Heads during Plan Period (3 Years)
                                                               (in Rs. Lakhs)
                                                                     Total in
           Components                2014-15    2015-16    2016-17     Plan
                                                                     Period
Data Mining Resource Facility (A)      100.0     914.0      914.0    1928.0
Technical Support Group (B )            19.7     239.4      239.4     498.5
Research Studies, Publication,          25.0     200.0      200.0     425.0
Conferences, etc. (C)
Training & Capacity Building (D)       10.0       45.0       45.0      100.0
Miscellaneous (E)                      23.2      210.5      209.0      442.7
       Total (A+B+C+D+E)              177.9      1608.9      1607.4     3394.2
        Total Expenditure during Plan Period (3 years): Rs. 33.94 Crore




                                      16
Broad Expenditure Heads during Plan Period (3 Years)
                                                                 (in Rs. Lakhs)

                                                                     Total
       Components             2014-15      2015-16     2016-17     (in Plan
                                                                   Period)
                     Data Mining Resource Facility (A)
Non-Recurring                   100.0       914.0       914.0        1928.0
Recurring                         0.0        0.0          0.0           0.0
Sub-total (A)                   100.0       914.0       914.0        1928.0
                       Technical Support Group (B )
Non-Recurring                    19.7       239.4       239.4         498.5
Recurring                         0.0        0.0          0.0           0.0
Sub-total (B)                    19.7       239.4       239.4         498.5
            Research Studies, Publications, Conferences, etc. (C)
Non-Recurring                    25.0       200.0       200.0         425.0
Recurring                         0.0        0.0          0.0           0.0
Sub-total (C)                    25.0       200.0       200.0         425.0
                      Training & Capacity Building (D)
Non-Recurring                     0.0        0.0          0.0           0.0
Recurring                        10.0       45.0         45.0         100.0
Sub-total (D)                    10.0       45.0         45.0         100.0
                             Miscellaneous (E)
Non-Recurring                    23.2       210.5       209.0         442.7
Recurring                         0.0        0.0          0.0           0.0
Sub-total (E)                    23.2       210.5       209.0         442.7
                            Total (A+B+C+D+E)
Non-Recurring                   167.9      1563.9      1562.4        3294.2
Recurring                        10.0       45.0         45.0         100.0
Grand Total                     177.9      1608.9      1607.4        3394.2
        Total Expenditure during Plan Period (3 years): Rs. 33.94 Crore

7.2 In case the land is to be acquired, the details of cost of land and
cost of rehabilitation/resettlement may be provided.

      Not Applicable.

7.3 Estimated expenditure on proposal administration (including
expenses on consultants, monitoring, evaluation, IEC, etc.) may be
separately indicated.


                                      17
      Monitoring would be a continuous process and evaluation would be
      undertaken by a third-party on an independent consultancy basis at
      the appropriate time. It is proposed to keep 1% of the total project
      cost for this purpose (approximately Rs. 34 lakhs) tentatively for
      the purpose.

7.4 The basis of these cost estimates along with the reference dates (it
should not be more than six months old) for normative costing may
be provided. Please indicate the firmness of the estimates, component
wise, with the extent (+ / -) of the expected variation.

      The total cost of scheme is tentatively estimated to be Rs. 33.94
      Crore, to be spent over the remaining three years of the 12 th Five
      Year Plan (2014-15 to 2016-17).

      The major cost components are :

      (i)    Creation of Information Technology tools, for data cleaning,
      data mining and data processing in the Data Mining Resource
      Facility;

      (ii)   Engaging suitable domain-experts as Technical Support
      Group to institutionalize and build in-house capacity; and

      (iii) Funding research studies, sponsoring seminars and workshop.

      For hardware, software and human resources that may be required,
      costs would vary on actual basis (at the time of acquiring). The cost
      estimates for hiring an IT firm as well as skilled domain-experts in
      the Technical Support Group have been worked out in the light of
      past experience of working with MCA21 e-governance project and
      information gathered from informed sources such as National
      Informatics Centre (NIC), National Institute for Smart Governance
      (NISG), etc.

                                    18
7.5-7.7.:   Not Applicable.

7.8 The cost towards salary/ fees/ emoluments of the human resources
as being proposed should be indicated (procedure for seeking
approval for human resource requirements is detailed at para-9
below).


      Keeping in view the present Government Policies as to the creation
      of new establishment, it is proposed to engage suitable domain-
      experts as a part of Technical Support Group (TSG) and
      demonstrate the usefulness and potential of the Project in Pilot
      Phase. Such engagement will be contractual/ outsourced basis in
      accordance with the General Financial Rules. It is also proposed to
      deploy officers of the Indian Statistical Service and Indian
      Economic Service as well as Senior Technical Assistants/ Junior
      Technical Assistants already in the sanctioned strength of the
      Ministry by filling up existing vacancies in the Ministry for the
      Project.

      Minimal regular manpower requirements will be addressed after
      evaluation of the `pilot' and based on the decision about expansion
      of the project in the next plan.

 7.9-7.10.: Not Applicable.

8. Proposal: Financing

8.1 The source of financing for the proposal may be indicated. In case
of proposal already included in the FYP, the specific earmarking may
be mentioned.

      The scheme is proposed to be funded through Gross Budgetary
      Support (GBS) for Plan of the Central Government. The amount of
      GBS required would be of the following order:

                                     19
                                                 (in Rs. Lakh)
              2014-15      2015-16     2016-17      Total
                   177.8      1613.9      1602.4       3394.2



8.2 Whether the funding requirements have been fully tied up with
Planning Commission may be indicated. The quantum of the Plan
allocation may be indicated.

      This is a new plan proposal not included in the 12 th Five Year Plan.
      The Plan outlay for the 12th Five Year Plan for the Ministry of
      Corporate Affairs, as approved, is given below:

Sl.     Name of scheme (for 2012-2017)                 Total (in Rs. Crore)
No.
1.      Indian Institute of Corporate Affairs                        110.00
2.      Improving the Functioning of Official                        123.58
        Liquidators and Application of e-
        governance
        Total                                                        233.58


      The scheme "Improving the Functioning of Official Liquidators
      and Application of e-governance" has since been withdrawn by the
      Ministry. Planning Commission has agreed to the same. A portion
      of the Plan Fund available on this account are sought to be utilized
      for the proposed Plan Scheme of "Corporate Data Management"
      with a project cost of Rs. 33.94 Crore. As such, the pilot does not
      entail any additional overall allocation for this Ministry.


8.3-8.4 Pertaining to gap in financing the proposal and sponsoring by
external sources:

      Not Applicable.


                                     20
8.5 In case of partial allocation of funds for the proposal, then the
components which may be removed/reduced may be indicated.

      The scheme is proposed to be fully funded under the GBS for Plan.
8.6 Please provide the following details in respect of project
proposal:
    Debt-equity ratio along with justification.
    In case of, funding from internal resources (IR), availability of
     IR may be supported by projections and their deployment on
     various projects.
    Please indicate funding tie-ups for loans components both
     domestic and foreign, along-with terms and conditions of loan
     based on consent/ comfort letters.

      Not Applicable.

9. Proposal: Human Resources

9.1 In case posts (permanent or temporary) are intended to be
created, a separate proposal may be sent on file to Personnel Division
of Department of Expenditure. Such proposals may be sent only after
the main proposal is recommended by the appropriate appraisal
body (SFC, EFC, etc.).

      Not Applicable.
9.2 In case outsourcing of services or hiring of consultants is
intended, brief details of the same may be indicated. It may also be
certified that the relevant GFR provisions will be followed while
engaging the agency/ consultant.

      Yes, it is proposed to engage domain-experts as a part of Technical
      Support Group (TSG) on contractual basis. The TSG would
      comprise consultants and Young Professionals drawn from
      Economics, Statistics, Management and Commerce backgrounds.
      Further details are provided in Paragraph 11.2 below, dealing with
      the administrative structure. Relevant provisions of the General
      Financial Rules shall be complied with while engaging these
      experts.

                                   21
9.3 In case additional manpower requirement, please indicate the
phased requirement over the proposal timeline (i.e. year-wise break-
up of the manpower requirement)

      Not Applicable.

10. Proposal viability

10.1 In case of proposals which have identified stream of financial
returns, the financial internal rate of return may be calculated. The
hurdle rate is considered at 12%.

10.2 In case of proposals where financial returns are not readily
quantifiable (typically social development proposals), the measurable
benefits/ outcomes may be indicated.

      10.1 ­ 10.2.

      The objective of the scheme is to provide large data sets on Indian
      corporates available with the Ministry to various stakeholders and
      public at large. Dissemination of company level data comprising
      both financial and non-financial parameters, and analysis thereof
      would enable evidence based policy formulation, strengthen
      decision making process, encourage high quality empirical research
      on various aspects of corporate growth and corporate governance
      and thereby contributing towards promoting inclusive growth.

      Further, the thrust is on developing institutional capability for Data
      Mining & Dissemination on corporate sector for providing
      information to stakeholders on a sustained basis. Hence, the
      proposed scheme has been essentially considered as an investment
      to aid government and other stakeholders for facilitating corporate
      growth. Therefore, no IRR (financial or economic) has been
      calculated as the proposed scheme is not visualized as a
      commercial venture by this Ministry.

                                    22
      Based upon discussion with various experts, it is understood that
      the revenue generating potential of the Project is very high. But it is
      proposed to stabilize the Project in the Pilot phase without actually
      realizing the revenue potential during the 12th Plan Period. The
      revenue generating potential shall be dovetailed when the Project
      would be considered for extension in the 13th Plan Period.


      It may be appropriate to submit that the total revenue collected by
      the Ministry from various stakeholders through e-filing is estimated
      at around Rs. 1500 Crore annually, as Non-Tax Revenue. MCA is
      thus a revenue generating Ministry. The present proposal envisages
      an annual plan expenditure of less than Rs. 20 Crore that is
      required to add value to the already available information so as to
      ensure its optimal utilization by the public at large.


11. Proposal implementation and monitoring

11.1 Implementing agency (s) may be indicated.

      The proposed scheme would be implemented by and under the
      supervision and direction of the Ministry of Corporate Affairs.

11.2 The administrative structure for implementing the proposal may
be stated. Usually new structures/ entities, etc. Are, by and large, to
be avoided. In case new structures are intended to be created for
administering the scheme, the details of such structures and specific
justification for the same may be provided. Such new structure
should be proposed only if it is has been established after due
analysis, that existing structures cannot be levered for the
proposed/additional work.

      No new structures are being proposed. Teams and facilities to
      implement the project will be either manned by existing personnel


                                     23
       in the Ministry or by utilising expertise engaged on contractual/
       outsourced basis as explained in Paragraph 7.8.
       Certain internal groups will be constituted as under :
Roles       Participants                            Responsibility
Advisory    Additional Secretary and Joint          Provide Apex level guidance for the
Group       Secretary level      officers     of    actual implementation of the
            Government of India and non-            scheme and further improvements.
            government experts
Executive   Economic     Adviser,      Director     Approve roadmap, Secure funding,
Team*       (R&A),     Director     (Statistics),   Prioritize Projects on macro-
            Director (e-Governance), and            economic policy, policies and
            Deputy Director (Statistics).           regulation, Overall Governance,
                                                    and techno-legal framework.
Cross      Essentially regular manpower for         Cross       organizational     group,
Functional in-house and sustainable capacity        Evangelize Analytics, Coordinate
Team       development for data mining and          super users and depts., Define best
           dissemination so as to establish         practices, Define and document
           MCA       as   corporate   sector        metrics, Gather Requirements, and
           `knowledge-hub'.                         management skills, Exploring the
                                                    data and discovering patterns,
                                                    meaningful relationships, anomalies
                                                    and trends, Capacity Building for
                                                    MCA data management
Domain      Technical Support Group [Experts        Responsible         for      One-time
Team (s)    from      Statistical/  Economic/       correction        &        subsequent
            Commerce        background   with       improvements in quality of
            sufficient Information Technology       information filed in MCA21
            exposure].                              System. They will also assist with
                                                    Data Analysis for Increasing
                                                    compliance of companies and
                                                    improving data quality on annual
                                                    statutory filings to MCA.

Technical The Technical Team (IT Firm) will        The Technical Team (IT Firm) will
Team (IT engage Data Management Team as            Build and maintain EDW, Build
Firm)     well as Interface Developers for         semantic layer for BI tool, Create
          Data Mining Resource Facility.           complex reports and dashboards,
                                                   Data governance, architecture,
                                                   Develop       model   management
                                                   platform, coordinate databases and
                                                   servers w/ IT, Data mining related
                                                   activities,    Data  dissemination
                                                   related activities.
* Already in the sanctioned strength of the Ministry.




                                          24
11.3 The completion schedule of the proposal indicating timelines of activities should be provided in PERT/Bar
Chart along with critical milestones.
                                       INDICATIVE PERT CHART WITH EXPECTED TIME (IN MONTHS)



                                                                                 I
                                                                       2                 4
                                                                       6         L
                                                                       6
                                                        12        G              M       6
                                           6                      15   2                             N
                                 C               F                               K                   0             2
                         5                              10                           1
                                                                  H    4                                   4       R   2   T
                 B                                      16                                                     6
         1               0                                             2                      S
                                                                  J
                                 D
 A                                     1                                                     [18]

                                                                                                    [15]
                                                                                 P       5
                                                        10
                                                O                      15                     Q



[*] indicates continuous process, and not definite time-limits.


                                                                            25
                 NOTES FOR THE INDICATIVE PERT CHART

 Node                                     Activity
A.      Approval of the SFC Memorandum.
B.      Constitution of Advisory Group.
C.      Engaging a Consultant for assisting Statistics Division in selection of
        IT Firm and Agency for providing Domain Experts for Technical
        Support Group as per provisions under GFR.
D.      Constitution of Technical Committee for Research Studies, etc.
F.      Finalisation of Request for Proposals for hiring Agencies for (i)
        development of computing facility and (ii) providing skilled human
        resources for the Data Mining Resource Facility, Preparation of Bid
        documents, Selection of Agencies and award of contract, etc.
G.      Develop software for data cleaning, Designing systems to resolve data
        quality issues, Data cleaning and data extraction, transformation and
        loading (ETL) from MCA21 Databases, Develop software for data
        analysis, Initiate activities and finalize format for Company level data
        (Unit-level data).
H.      Determine parameters for recognizing patterns through data mining
        and write programs, Commence data mining on transferred MCA21
        data, Stabilizing the Data Mining Methodologies.
I.      Synchronize with other corporate data sources (SEBI, RBI, CBEC,
        CBDT, etc.)
J.      Developing platform for online collection of additional corporate
        sector data for providing policy inputs.
K.      Generation of public access reports according to pre-determined
        tabulation plan. Disseminate Public access non-finance data about
        Public Limited Companies. Online Dissemination of user-defined
        reports to stakeholders.
L.      Release of unit level data on companies finance statistics to general
        public.
M.      Generation of need-based sophisticated regulatory reports.
N.      Conceptualization for designing the Intelligence Grid for regulation
        and enforcement, consultation with other regulators for data usage
        rights & authorization, etc.
O.      Preparation and finalisation of forms etc. for empanelment of
        Institutions for grant-in-aid for research, seminars etc.
P.      Sponsoring of research studies, surveys, workshops, conferences,
        seminars, etc. on corporate sector.
Q.      Organising Seminars on contemporary themes of relevance
        concerning corporate sector.
R.      Preparation and Publication of analytical reports on companies'
        finance.
S.      Training to MCA officials to access and deal with database.
T.      In-house Capacity building for Data Mining and Analysis to gain a
        shape.
                                      26
11.4 Mode of implementation: Departmental/ Contract/ Turnkey
contract/ EPC/ PPP, etc. with justification may be given.

      It is a Departmental Pilot Project. However, as the Department is
      currently not having required technical know-how and internal
      skilled resources, it is proposed that the Project will draw on expert
      manpower on outsourced services basis.

11.5 Nodal officer identified / appointed for being directly in charge
and overseeing progress of the proposal may be indicated. Details
about his status, past experience in executing similar proposals and
balance tenure left for steering the proposal may also be mentioned.
He/ She should normally be appointed for entire duration of the
proposal.


      Director (Statistics), Ministry of Corporate Affairs will be the
      Nodal officer. The Director (Statistics) is a Non-Functional
      Selection Grade officer of Indian Statistical Service and the present
      incumbent has more than two decades left for his superannuation
      from government service. Since he is occupying a cadre post, his
      continuity at this level in the Ministry can be assured.

      Director (R&A Division), Ministry of Corporate Affairs will be
      responsible for the component of funding sponsored Research
      Studies etc.

      Both the Directors would be working under the supervision of the
      Economic Adviser of the Ministry and they would be supported by
      a team of officers from Indian Statistical Service and Indian
      Economic Service.

11.6 The monitoring framework preferably on MIS for the proposal
may be indicated. The arrangements for audit/social audit of the
proposal may also be stated.

                                     27
      The Inter-Ministerial Advisory Group, proposed to be set up under
chairmanship of Additional Secretary, and having representation from
various Ministries, shall provide apex level guidance and monitoring for
efficient implementation of the Project. An Executive Team is responsible
for monitoring on a continuous basis with technical & domain related
support from the Technical Support Group.

12. Proposal sensitivities/uncertainties

12.1 Any foreseeable constraints/ uncertainties which can affect the
technical design, costing and implementation of the proposal may be
indicated.

12.2 The likely impact of these constraints/uncertainties on the
proposal parameters may be stated. In particular, the sensitivity of
the proposal cost, proposal schedule and proposal viability towards
the possible constraints/ uncertainties may be mentioned.

      12.1-12.2    No constraint is foreseen at this stage.

13. Mandatory approvals / clearances:

The details regarding the requirement of mandatory approvals /
clearances of various local, state and national bodies and their
availability may be indicated in a tabular form :

S. No. Approvals /              Agency concerned       Availability (Y/N)
       Clearances


      The proposal does not require any other clearance from other
      Central, State or Local bodies.

14. Consultations with the Public, State Governments, External
Research Agencies, Think Tanks, etc.

14.1 To the extent possible and practicable, such consultations may
be done by the Administrative Ministries. The draft Proposals may
                                    28
be placed on the web site of the sponsoring Ministries and comments
invited from the general public. The draft proposals may be
formulated / finalized taking into account such comments. Details in
this regard may be indicated in the EFC /PIB memo.

      This SFC Memorandum was circulated to Planning Commission,
      Department of Expenditure, M/o Statistics & Programme
      Implementation, DIPP and the Reserve Bank of India.
      The comments received from these organisations have been
      suitably incorporated in the proposal. However, comments received
      and brief response thereto are given in Annexure II.
      [To be incorporated as and when comments are received after
      circulation.]
15. Concurrence of Financial Advisor

15.1 Comments/Concurrence of Financial Adviser may be indicated
along with reply of the Administrative Ministry.

      The comments/ Concurrence of Financial Adviser is given in
      AnnexureIII.
      [To be incorporated as and when comments are received.]

16. Approvals:

16.1 Please indicate the specific points on which approval of EFC /
PIB is sought.

      Approval of the Standing Finance Committee (SFC) is solicited on
      the following proposals of the Ministry of Corporate Affairs:

      I.    To implement a Central Plan Scheme of Corporate Data
      Management during 2014-17 with a project cost of Rupees 33.94
      Crore as detailed in para 4.2 (at Pages 8-10 of this Memorandum);




                                   29
II.         To allocate Gross Budgetary Support of Rupees 33.94 Crore
for the purpose during the three year period 2014-15 to 2016-17, as
specified in Tables under Paragraph 7.1 (at Pages 16-17 of this
Memorandum);

III.        To constitute an Inter-Ministerial Advisory Group having
members from Planning Commission, Ministry of Statistics &
Programme Implementation,               DIPP and RBI, and non-official
experts to

       a.       Finalize the RFP for selection of service provider and to
                select the service provider;
       b.       Approve the process of recruitment of Technical
                Support Group;
       c.       Review the project implementation and improve it for
                achieving the objective as well as optimal utilization of
                resources;
       d.       Review fund utilization across various activities, and
                reallocate, if required; and
IV.         To commence the execution of the component for funding
research and studies as per guidelines as Annexure-I.




                                                       (Smt. Sibani Swain)
                                                         Economic Adviser
                                         Tel. No.: 011-23385010 (Telefax)
                                                     E-mail: sibani@nic.in




                                   30
                                                                  ANNEXURE-I
      GUIDELINES FOR FUNDING RESEARCH AND STUDIES,
      WORKSHOPS AND CONFERENCES ETC. UNDER THE PLAN
       SCHEME "CORPORATE DATA MANAGEMENT" OF THE
             MINISTRY OF CORPORATE AFFAIRS

I.     INTRODUCTION

1.1. "Funding Research and Studies, Workshops and Conferences etc." is
conceived as a component part of a Central Sector Plan Scheme, titled
"Corporate Data Management" proposed to be implemented by the Ministry of
Corporate Affairs. The major focus is to utilise the wealth of data available with
the Ministry of Corporate Affairs by way of sponsoring Research, Studies and
Surveys etc. in areas related, inter alia, to corporate growth in overall macro-
economic perspective.
1.2. This would also include funding of Seminars, Workshops, Conferences,
Symposia and Publications (Reports, Books and Monographs) which extract
knowledge primarily from the MCA database and other sources, having
implications for corporate governance and faster, sustainable and inclusive
growth.

1.3. This is to be implemented by the Research and Analysis Division of the
Ministry, under the supervision of a "Technical Committee" constituted under
Paragraph 3.1 below.

1.4. The procedure for approving grant-in-aid, monetary ceilings, advances,
instalments etc. would be as prescribed in the following paragraphs. Aspects
not directly covered in these guidelines will be regulated by the provisions of
the General Financial Rules of the Government of India.

II.    OBJECTIVES

2.1. The primary objective of "Funding Research and Studies, Workshops
and Conferences etc." is to better utilise the repository of corporate sector data
available with the Ministry under the MCA21 e-governance system, with a
view to extract knowledge from data that will eventually inform policy and
facilitate decision making in a market driven economy. The following
illustrative list of themes for research, studies, conferences etc. has been
identified :

       (i)     Financial Inclusion and shareholders democracy;
       (ii)    Corporate Bond Markets;
       (iii)   Investor Protection and Investor Education;
       (iv)    Performance of corporates (contribution to GDP, investment,
               revenue, profitability etc.);
                                       31
       (v)      Corporate governance;
       (vi)     Corporate social responsibility;
       (vii)    Competition law and practice;
       (viii)   Consumer protection vis-à-vis corporate functioning;
       (ix)     Transparency in corporate functioning;
       (x)      Ease of Doing Business; and
       (xi)     Social Audit of corporate sector functioning.

2.2. Research, Studies and surveys, Publication (Reports, Books and
Monographs) of results of Research Studies, and Dissemination of knowledge
(Seminars, Workshops, Conferences and Symposia at the National level or
international level) acquired/ built through results of Research Studies, whether
undertaken through funding under these guidelines or otherwise, on the above
subjects, fulfilling the objectives will be considered for grant-in-aid, under
these guidelines.

2.3.   The purpose of Seminar etc. should be to:

(a)    stimulate an informed discussion or debate on research themes/topics,
       essential to corporate sector growth, enlightened regulation and
       positioning of corporates as responsible citizens, and

(b)    identification of problems and identification of remedial measures to
       pre-existing problems that would help corporate sector growth and/or re-
       orient practices of the Government/ corporate sector,

with active participation of, and partnership with the institutes of repute, as well
as renowned names in the relevant field.

2.4. The proposals for conducting Research, Studies, Surveys, Publication
(Reports, Books and Monographs), holding of Seminars, Workshops,
Conferences and Symposia etc. are referred to as `proposals' hereinafter in
these guidelines.

III.   APPROVAL PROCESS

3.1. All proposals (whether proposed by the Ministry itself or received from
the Applicants) would be placed for consideration of grant-in-aid before the
Technical Committee, consisting of:

Economic Adviser, MCA                                                  Chairperson
Director (IFD), MCA                                                       Member
Director (Statistics), MCA                                                Member
Two Non-official Experts to be nominated by the
                                                                          Members
Inter-Ministerial Advisory Group
Director (R&A), MCA                                             Member-Secretary

                                        32
3.2.    The functions and powers of the Technical Committee will be :

(i)     The Technical Committee may add to, delete from, or otherwise amend,
        the above list of issues/ themes/ topics in Paragraph 2.1;

(ii)    The Technical Committee may accept/reject any proposal fully or partly
        and to require modification of any component including the scope,
        coverage, methodology, timelines, deliverables, or time or venue, as the
        case may be, while finally recommending the disbursal of a grant in
        respect of any proposal;

(iii)   Formats of applications/ project proposals seeking funding/ grant-in-aid,
        under these guidelines will be finalised with the approval of the
        Technical Committee. These would be placed on the website of the
        Ministry for general information;

(iv)    The Technical Committee may recommend the assignment of specific
        projects of interest to the Ministry to a Partner Organization, by issuing
        "Terms of Reference". "Partner Organization" means the organisations
        functioning under the aegis of the Ministry of Corporate Affairs, i.e., the
        Institute of Chartered Accountants of India, Institute of Company
        Secretaries of India, Institute of Cost Accountants of India and the
        Indian Institute of Corporate Affairs;

(v)     The Technical Committee may invite tenders regarding specific projects
        of interest to the Ministry by issuing "Request for Proposals";

(vi)    The Technical Committee may call for progress report on the study/
        research undertaken, at periodic intervals, starting from the date of
        approval/ sanction of the project;

(vii)   The Technical Committee may take expert opinion as to assess or review
        an on-going research/study; and

(viii) The Technical Committee may, in its discretion, call off the processing
       of a project, whether before or after the approval of a grant, if it appears
       to the Technical Committee that the project is not worth pursuing at
       Government cost.

3.3. After the Technical Committee takes a decision whether to fund, part-
fund, reject a proposal or withdraw/cancel a grant already sanctioned, the
minutes of the meeting of the Technical Committee containing its
recommendations will be submitted to the Secretary, MCA for his approval.
The approval, if and when received, will be executed by issue of orders of
sanction and release of funds or by orders of cancellation, as the case may be, in
accordance with the General Financial Rules, 2005.

                                        33
IV.    ELIGIBILITY

4.1. Institutions/Organisations i.e., those Societies, Trusts and Non-Profit
Companies which fulfil the following Expertise and Standing specifications
will be eligible to apply for funding/ grant-in-aid under these guidelines:

(A)    Specifications of Standing:

       (i)     The Applicant (Institution/Organisation) must have valid
               registration as society, trust, non-profit company etc. for at least
               three years;
       (ii)    The Applicant (Institution/Organisation) must have been working
               in research/ survey projects in the past for at least three years
               preceding; and
       (iii)   Educational qualifications and research capabilities of the full-
               time professionals and technical human resource should
               commensurately reflect domain knowledge.

(B)    Expertise, wherewithal and level of commitment: The Institution must

       (i)     possess expertise in designing research and statistical analysis for
               economic interpretation;
       (ii)    be equipped with hardware and tools for handling large-scale
               data; and
       (iii)   be able to dedicate experts/ professionals during the term of the
               research/survey project as their main activity (not merely as a
               subsidiary activity), so as to ensure adequate levels of
               commitment and timeliness in delivery of the results.

4.2. Individuals with proven levels of commitment and expertise will also be
eligible for applying for funding/ grant-in-aid for research, studies, surveys and
publications, under these guidelines.

4.3. No organisation which has commercial interest in the proposal shall be
considered for grants under these guidelines. No project which is funded, fully
or partly by any international organisation or a multi-national company or a
multi-national trust, shall be considered for funding under these guidelines.

4.4    Breach of any condition contained in the sanction letter, or suppression
of any material fact concerning the eligibility/ ineligibility of an applicant
would render the defaulting party liable for being black-listed or debarred from
receiving any grant under these guidelines for a period specified by the
Technical Committee.




                                        34
V.      FORM OF ASSISTANCE AND DISBURSAL

5.1. The grant-in-aid in respect of a proposal to an Institution will not exceed
 15,00,000/- (Rupees fifteen lakh only), and the corresponding ceiling in
respect of an individual will be  5,00,000/- (Rupees five lakh only). In case a
project proposal is proposed to be part-funded by other organisation(s) also, the
details thereof shall be submitted as early as possible, and in no case later than
two weeks after the funding from the other organisation(s) is/are confirmed.

5.2.    The Schedule of disbursal of grant would generally be as follows:

Research Proposals
Instalment  Amount        Conditions
First       40%           On issue of sanction letter.
Second      40%           On submission of first draft. A presentation will be
                          arranged in MCA to discuss draft Report/ findings.
Final          20%        Upon acceptance of the report and submission of
                          requisite number of hard and soft copies of complete
                          set of all documents used and report.


Proposals for Seminars, Conferences etc.
Instalment    Amount Conditions
First         60%       On issue of sanction letter.
Final         40%       On submission of the Report of the proceedings of
                        the conference etc. with a complete set of all
                        documents used and the final conclusions/
                        recommendations.




                                       35

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2016 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Binarysoft Technologies - Our Team

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions