21 May 2006

Certain Issues on MEF

Dear Members,

Certain issues raised by members on Filling of Empanelment Forms online for Banks, I am giving my personal opinion and personal interpretation of the same as below by summing up the major queries of the members:
  1. Last date for submission of applications on the website: 31st May, 2006 (5:30P.M.). Last date for receipt of hard copy of duly signed declaration: 10th June, 2006 (5:30P.M.)
  2. When you click in part I, the message "Active X control" appears. You are required to click Yes. If you say No, the data for last year will not appear in the browser.
  3. This form is to be filled by all applicants, new and old, though last year s empanlement was for 2 years, it is decided to make afresh empanelment so everybody desirous has to file this form.
  4. It appears that there is a requirement of atleast one exclusive partner who is not associated with any other concern, otherwise the form will be rejected. Even in case of propreitor, one should be exclusive, meaning not to be partner anywhere. Certain examples of new norms are as follows, as provided by the ICAI:
  5. A & Co. is a partnership firm of 2 partners B & C. B has a proprietorship firm of his own, B & Co. A & Co. and B & Co. both apply – B & Co. will be rejected and A & Co. will be treated as a proprietorship firm. Only A & Co. applies – A & Co. will still be treated as proprietorship firm.
  6. ABC is a partnership firm of 3 partners, and all 3 have proprietorship firms A & Co, B & Co. and C & Co. – All applications (ABC, A & Co., B & Co., C & Co. or any combination thereof, or of the individual firms) will be rejected.
  7. A has 2 proprietorship firms. A should apply in one of the firms; he should indicate `Y’ in the column for `association’, and he should mention that he has one more proprietorship firm in the hard copy of the Declaration. The problem will be sorted out by PDC Secretariat.
  8. Members getting error message on website or it was not being available was due to technical problem and now it is available for filling.
  9. Hope this information will be helpful to you,
  • The direct helpline No. of ICAI for Empanelment probelm is:
    011-39893989 (Extn. 444), 011-23378413 and email: mefpdc@icai.org
    Regards,
    Ashwin Nagar
    FCA, DISA, LL.B., M.Com.
    In Ahmedabad 09825781065


    ********************************************************************Please
    All messages posted by members including me on this group are sent in their personal capacity. No official position held anywhere by them have nothing to do with this email group.
    I am sharing the information as a service to professional brothers and sistyers. I do not accept any responsibility with regards to accuracy or the mistakes in the material circulated on this group.Please verify the information from your independent source.
    I get a very large no.of emails, so it happens that some of these just skip my attention or some might go directly to Bulk mail folder due to some reason, so please bear with me, if your emails are returned and you find it important then please resend it.
    It is possible that I am not able to reply some of your emails, due to some reasons, or simply over burden, please excuse me for that.
    ********************************************************************

1 comment:

  1. Anonymous11:04 AM

    FOR THE NEW CA'S THE BANK AUDIT IS A GREAT LEARNING EXPERIENCE AS WELL AS A VERY REMUNERATIVE PACKAGE.AVOIDANCE OF NEW CAS WOULD SURELY DISCOURAGE THEIR MORALE AND OTHER CA'S WOULD DEFINETELY THINK THRICE BEFORE ENTERING INTO PRACTICE.THEY WON'T BE ABLE TO ENTER INTO PARTNERSHIP FROM THE VERY BEGINNING.I THINK THERE SHOULD NOT BE DIFFERENCE BETWEEN PARTNERHSHIP FIRMS AND PROPRIETORSHIP PARTICULARLY IN THE CASE OF BANK ALLOTMENT.

    ReplyDelete

What do you think about this? Please write your comment.

Empanel as Concurrent Auditors

BANK OF MAHARASHTRA invites online applications from practicing firms of Chartered Accountants, in the prescribed format, who are willing to...