I just wrote a letter to ICAI, for giving some relief from the out of syllabus portion of May, 10 examination.

So thought i can share it with you.

Only my complaint wont suffice. There should be good number of complaint to move their conscience.

Have a look:

”

I am a proud student of the esteemed institute, entrusted with the responsibility of ensuring that the growth, we have got, remains so, unabated, by vetting the disclosures and compliances etc. So far our institute has lived up to the expectations of the nation. That is why we still are regarded and our relevance has always increased with the changing times.

We have also seen ICAI’s efforts to make the Indian quality in this field, global. And in a short span of time, the success is visible, astonishing though.

Now what all the ICAI has is respect, faith and Intellect only. So my deadliest dream can only be the deterioration in it.

What Satyam could bring to the esteem, is all visible. So, I believe what I, will talk here will make sense of investing time in it.

This May I appeared in the CA final New course exam, both group, 1^st attempt. Everybody knows that in CA final there is nothing called syllabus. Anything you are going to face in real world can be asked. So syllabus is either not defined or defined in a wider sense.

Kind of free fight, no rules. Yup!!!!!!!!!

I prepared for that. But, what to do when the rules are fixed???

Logically follow the rules.

That’s what I done. But unfortunately the umpires themselves are not adhering to the rule book.

Some days before the exam Board of Studies announced either in ICAI’s website or RTPs that some topics relevant to Law and Accounts paper wont be asked. But you asked the questions worth 12+12 marks.

It is not a hidden fact that students pass the exam TOO marginally. So in that case, they stand to lose the race only because of some careless announcement. There is no forum in ICAI to resolve the Students/ articles grievances. So I am shooting my problem here only.

When BoS itself is saying that these parts are out of scope of exam, then there was no logic of studying those things. Otherwise everybody would have prepared the topics.

Now my appeal is that you should give proportionate marks to each student. For e.g. If a student is scoring 44 marks or 50% out of 88 marks paper then he should be entitled to 50% of 12 marks. Logical!!!!!!

Out of syllabus portion:

Accounts             AS 30,31,32

Law                       Winding up, SEBI Guidelines.

Either there should be no rules or if rules are there, they should be adhered.

Even Kasab was given a fair trial. We deserve better.

IF THIS ISSUE DOES NOT PERTAIN TO THE READER, THEN HE MAY KINDLY FORWARD IT TO CONCERNED DEPARTMENT.

“

It can change the way one lives. It can make anybody loose morals. The worst which i have seen: ooooooooooooooooooooooohhhhhhhhhhhhhh!

It can make the fear of god disappear from within.

What i learnt:

Don’t let money play your life.

Let it be a mean only and not the destination.

And beware one cannot die peacefully when lot of people are wishing for your death.

I believe this episode will definitely preclude me from becoming a slave of money.

Kyon Paisa Paisa karti hai; kyon paise pe tu marti hai.

I feel very proud to announce that the new project that is a website is ready to leapfrog all other alike websites. This a project jointly done by Divam, Basant and me.

What is it: It is website dedicated to two class of people: first who invest in share market, second who want to invest but are regularly cautioned by the less informed people.

How the 2 will be served:For a layman in the market, we are giving full detailed information about all the fundamental concepts and technical details which he good investor should be aware of. He will also be given option to solve his doubts online. The lucid language and at time question answer form will definitely be the edge. For a person already well aware of the issues in the vogue, we are giving him realtime, authentic and desired information. He will be able to get his taxation, market related queries solved online. We will try to deliver every thing that may affect the price of his portfolio.

How the idea emerged: India is growing at a rapid pace. But unfortunately the stock exchanges are not doing well. That is because of the fact that Indians are still unable to understand the bull and bear. I would say they have lot of reservations. Even the person who has taught me Finance of CA Final, and who is teaching the subject since 1969, says that he is too scared to invest. So we thought that the fear of people must go away to increase participation in the development of India. As a result…………..

So………..

I think you can pay a visit. May be it will serve you as well.

www.marketshiksha.com

by the way did somebody force you to do ca? I thought it is a free worldout there in India is it not?’

I am just giving a reply.

“What i think is that we are living in a democratic country and the ICAI should respect the constitution of india. It has given me the Fundamental Right to do job anywhere in the country. Beside if institute wants dynamic CAs to come in the market, they have to allow diverse experience for students, which a single firm can rarely provide. If i want to learn Tax work, than give me one reason, why i should not be learning that in some other firm. And over and above all the things we have seen the dubious talks by president, ICAI, in Satyam Fiasco. One day he says auditors were not wrong. After few days he says auditors are equally guilty. There is a full interview in CNBC, talking about changing stands of ICAI. Because of these things only the ministry of finance is working for taking over of ICAI.
Last, you don’t leave the thing you love. I love CA course, so i dont leave it. I want it to be of CPA standard. That is why i dont like these things.
Thanks for your comments.”

Nothing.

The Indian judiciary is widely affected by the political biasness. Otherwise tell me why the hell a person who tried to disrespect our mother (if these politician consider this nation as their mother), is still eating food from our money even when the court has ordered to execute him (i am talking about Afzal).

Now see what is happening in the case of Kasab.

Kasab has confessed that there are Indian link in the attack. The Mumbai police has rubbished this claim even without investigation as to the truthness. This may be because of the Indian stand that the Pakistan has perpetrated and executed the attack. But whatever is the case, the police is not supposed to let this serious thing dumped. Another reason i suspect behind the reckless police enquiry in Indian link, is to appease Muslims. Remember Kasab has named a Kashmiri Muslim man who taught him Hindi.

The Judiciary in such cases decides only based upon the data/facts put forth by police and other agencies. And if the police is itself is not interested in the case, then the judge is not expected to do field visit.

Even if we have a decision from court, it is doubtful that it will be implemented soon.

But evrything is not so dipressing. Even after being a BJP person this election has got every thing - The good, The bad and The ugly.

1. The good: A congress led government with more than 200 seats of congress, is definitely better than a BJP led government with 140 seats of BJP.The lesser seats the leader has got, the more say is there with regional parties, and a big cheap negotiations can be seen then. This time goons like Lalu, Paswan etc. are not going to be there. Besides Congress has always been supporter of Reforms and Liberalisation. And this they dont have socialists and communists with them. So Mr. Manmohan has got free hand. I would say they won’t let this opportunity go. So best of luck.
2. The bad: The bad part of a strong Congress is that the Congress has always compromised the nation’s interest for the election purposes. In India you have elections in every six months. Congress has always framed the policy of government keeping in mind the impact of that in the next election. They don’t prepare the country for the next 15-20 years. The NDA started Highway projects at the war level, the proposal of integrating rivers was almost final, they declared India a nation with nuclear power - every thing for a better future. Whereas Congress has not done anything for the next 15 years. The loan waiver of 75000 crore has nothing to do with future, rather had it been invested in increasing productivity it could have been a futuristic decision. Even the pay hike of around 40% was not a futuristic decision. Every thing was to woo the electorate. So i would love to see Congress making India powerful enough to compete with China. (Why we should be competing with china, i will write in my next blog.)
3. The ugly: As is unilaterally appreciated by all the national media, that Congress has won the election due to the polarisation of Muslim votes in his favour, I am of the view that the next 5 years Afzal and Kasab are not going to be hung. Congress will show it’s loyalty to the Muslims and will go soft on Muslim extremism and terrorism.

You people may think that i still talk in BJP language, but that’s my view you be disagreed. Economically we Will do well with government.

Silent whispers deep within
Waiting till the bitter end

Come out in the air
Now they are exploding every where

People running for there lives
Others ones telling lies

Children are laughing out loud
Mothers are looking at the clouds

Families are crying and asking why
No one is there to tell them why

Preachers on there knees in prayer
No one left to really care

This is why I write today
Because tomorrow I’m going away

Smoke and fire fills our sky
And I told you at the beginning everyone is asking Why.’ - Unknown.

Save the the country.

Vote this time, and bring a strong and nationalist party to the governement. Or let the the future generations bear the brunt of your sins.

Don’t vote this time on your caste, religion, faith etc. Your vote should be guided by only national issues. So wake up and show your diligence.

I think a institute like ICAI is a burden on India and it should immediately be shut down and a new institute up to the world standard be established.

Many of you, particularly who are studying CA or are a Chartered Accountant, will be shocked by my words. I have several reasons to substantiate my views. I know how the CA industry is going as I am a student and have regular interaction with other students.

So here goes the reasons:

1. The ICAI is a torture on students: The minimum stipend fixed for the students who work like a horse for their CA, who are supposed to be there guardian, is Rs. 1250. It is a well known fact that most of the firm are giving only minimum stipend. at the higher end the stipend is Rs. 2500. Now tell me if i am working for a person, then is it not the responsibility of the person to ensure that i live a decent life. But the ICAI is not bothered about the life of its student. Somebody tell me how the hell on earth can you survive in a city like Delhi. Mumbai, Kolkata, Bangalore etc at about Rs. 1500. No doubt CA is a tough exam. Suppose i coulds not clear the exam then it would only mean wasting my 3 years in articleship. On the other hand my elder brother is also working as a trainee in a university and he is earning that much that he has bought a Nissan car in just 4 months. This is slavery. I know articles who are making tea for the clients of their CA. They can not do any thing to help them. as ICAI has left no door open to them. they can not change their employer as it is banned. They can not complain against them as ICAI is there to protect them (see next point).
2. ICAI is a holy shitfor Indian Economy:At the time when ICAI had to show the world that they are serious to make the regulations in India as per the global standards, ICAI is doing everything to protect the perpetrators of Indian Economic Fiasco - the Satyam Fraud. This was not a challange but an opportunity to show the world that in India we don’t let the culprits go easily. We could have impressed the investors that we are serious. but ICAI is protecting auditors only because they belong to them. This kind of behavior suits only to political parties. Look how shamelessly ICAI president can protect PWC auditor: ‘He said the two sacked PWC CA involved in Satyam’s auditing should not be blamed as they got incorrect statements from the company’ - Financial Express, April, 15.
3. ICAI is an over confident monarchist: I will not say much about this but just have a look at the circular of ICAI dated 27th march, 2009:

“(a) The coaching classes shall not continue after 9.30 a. m. or start before 5.30 p.m. so as to enable the articled/audit assistants to concentrate wholly on practical training.

(b) Members of the Institute who are engaged in coaching be advised not to undertake coaching between 9.30 a.m. to 5.30 p.m.”

Have you noticed how Members and Articles are treated differently. I will give you the reason. Members are the vote bank. They dicide by givingtheir vote who will be the next president and all of ICAI. India mein kaun vote bank ko naraaz karega. Another example:

“h) No request for termination of articles is entertained from any articled assistant in general and more particularly during the first six months and also during the last twelve months of articles except as provided in the Regulations. In the event of termination, his articles shall not be registered in the same city.”

I think ICAI is in the illusion that it is over the constitution of India. As per the fundamental rights given to each and every citizen of the country, I am allowed to go anywhere in India and opt any profession. The institute diktat is against the crux of constitution.

I think law ministry, SC and human right commission should come forward to check the fatwa and Talibanisation of ICAI.

From the day one BJP was supporting Varun without any quandary in their mind. That has helped them prove to the nation that it is still stand with Hindutva ideology.  And it was needed for their image. They can not afford to be pseudo-secular as that would mean losing their identity.

By standing by with Gandhi scion, BJP has ensured a life long loyalty of the family. i have heard Varun in a TV interview. And let me tell you he speaks so well and calculated. If ever any comparison between Rahul and Varun would be made, Rahul will be out of scene in fraction of seconds.

By the way i don’t get what was wrong in the statement of Varun Gandhi. He said he will cut the hands coming to harm Hindus. He is talking about saving not hurting. Every body has a duty to save an innocent from being hurt. If you think Varun is wrong then stop fighting terrorism because you will save innocents and kill somebody who is obviously a muslim. He did not name muslims even if it was his intention. He might be talking about terrorists.

A fact about BJP top people is that they are mostly products who have fought against some issue with full force and sustained in that battle. They did not get anything as inheritance. they created space for themself by showing determination. Varun has shown same determination. Having faced injustice and successfully fighting that, he is in line with many senior BJP people.

Whatever, BJP has every reason to rejoice. They got a leader with Gandhi as surname and who has proved his maturity, aggression, will and dedication successfully.

I wish if I could see him assuming bigger responsibilities with maturity and ideology.