From: Suneel Kumar Appaji., FCA <email@example.com>
Date: Tue, Sep 6, 2016 at 11:27 AM
Subject: Development and Growth Practices for Practicing Professionals
Dear Member (s) of ICAI
The subject am dealing is - Development and Growth Practices for Practicing Professionals
As at 01/04/2015, there were 60557 CA firms of which 18749 were partnership firms and 41808 proprietorship firms. As at the same date, the number of Practicing CA are 115540 (includes 8340 part-time practitioners). Based on the above data, 65392 members are in partnership plus individuals practicing without firm name. If we assume the number of practitioners without firm as - zero- (for calculation purposes, 18749 firms have 63592 partners that is average firm size is 3 and lower.
The number of firms with 10 and more partners are not more than 200 in India for various reasons including restrictions of statute. However, the restrictions are now removed - The Council of the Institute has clarified that the earlier restriction of maximum of 20 partners permitted for firms under section 11 of the Companies act, 1956 is no more applicable to the firms as Section 464 of the Companies Act, 2013 has been notified w.e.f 01.04.2014 wherein sub-section (1) provides for a maximum number of partners permissible for business firms at 100 and sub-section (2) provides that nothing in sub section (1) shall apply to an association or partnership, if it is formed by professionals who are governed by special Acts. Accordingly, as per proviso to the said section, Chartered Accountants firms are now allowed to be registered/reconstituted with more than 20 partners w.e.f 01.04.2014 under the Indian Partnership Act as in the case of a firm under the Limited Liability Partnership Act.
Even after the law is amended, the average number of partners in firms is not increasing - in SME firms ; however, large firms or firms with 10+ partners have already in the process of increasing the number to 50+. Now I I come to the consolidation aspect. As already stated, supra, due to various apprehension among members firms and firm's size is not increasing and am ready to help removal of such apprehensions from your minds and also give a strategy to form a firm with large numbers that can sustain for long.
The proposal I suggest to you will in noway violate any of the existing guidelines issued by Council of ICAI or CA Act or regulations and also ensure no loss of revenues to you in the long run. The mechanism is such that you will be rewarded for every aspect and in certain aspects you must agree for CAS (Compromises and Adjustments and temporary Sacrifices)
If you want larger cake and are willing to work in teams, please attend the meeting that I propose to conduct. In the words of George Bernard Shaw - "Progress is impossible without change, and those who cannot change their minds cannot change anything"
Please confirm to me your interest on my mobile number - 9246394375 or 9849010302 - (both are having whatsapp too) giving their mobile number, email and other particulars they wish to give so that I can send a document to be filled in by you before attending the meeting. The meeting will be held in Hyderabad and the meeting will be conducted as ROUND TABLE. The meeting will be from 9.30 AM to 5 PM on 08/10/2016 and exact place and further details will be shared with those who are interested.
TO GAIN THE KNOWLEDGE YOU NEED TO INVEST; YOU HAVE TO INVEST YOUR TIME, COSTS TOWARDS TRAVELING & BOARDING TO ATTEND THE MEETING AND ALSO HAVE TO SHARE THE COST OF MEETING