CMA SURESH CHANDRA MOHANTY

PRESIDENT

THE INSTITUTE OF COST ACCOUNTANTS OF INDIA

(Statutorybody under an Act of Parliament) CMA Bhawan, 12, Sudder Street, Kolkata-700 016 Phones: +91-33-2252-2128/6459-0085, Fax: +91-33-2252-7993 Website: www.icmaLin, E-mail: president@icmaLin Mobile: +91-9910030124

Date: zs" November 2013

APPEAL
Respected colleagues, On the wake of the Draft Companies (Cost Records and Cost Audit) Rules, 2013 notified by the MCA, GOI on 21st November, 2013 U/s 148 of the Companies Act, 2013, there is a genuine consensus amongst members of our CMA fraternity that the said notification has curtailed the scope of the professionals to contribute to the investors protection as well as to the exchequer so as to ensure planned growth of the country. As responsible citizen and able professional, we are of the strong opinion that the draft rules have prejudice public interest at large. You are all made aware that based on all your suggestions, a proper action plan has been laid down and the activities are geared up under the direction and supervision of the Task Force especially constituted for this purpose. Let us all extend in sharing our wisdom and express our valued opinion by providing constructive suggestion such as to impress upon the Ministry in continuing with the existing governance system. It is observed, reported and noted that there are some movements/activities/ actions being carried out, purely out of anguish and deep concern, as we all are aggrieved. Ever since its inception, CMAs have always been tried and tested in several occasions and every time we have proved our mettle through intelligence and proper representation. It may kindly be noted that as decided by the Task Force we all are presently working to achieve the common goal and have escalated the matter at various levels, besides continuing to make proper representation to various stakeholdersl authorities for their consideration and issuance of appropriate advisory to MCA, GOI. I humbly request you all to restrain from entering in to any such event/s, acts or actions, which in turn may prove prejudicial to the interest of the entire profession at large. I am hopeful that with all your sincere wishes and technical support, we are confident to reach up to the expectation of the society to serve the socio-economic and national interest besides extending wide professional opportunity to our members to serve the economy. Let us all concentrate in making appropriate suggestions with justification to the Ministry with a copy to us to strengthen our efforts at the council.

Withbes1'~

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(CMA S C Mohanty)

Delhi Office : CMA BHAWAN, 3, Institutional Area, Lodhi Road, New Delhi - 110 003, Phones : +91-11-2463-4084, +91-11-4734-0746 Residence: Plot No. 511,Sahid Nagar, Bhubaneswar - 751007 (ODISHA), Phone: +91 6742548605, Mobile: 09437205605 Email: mohantysC@gmail.com