An Open Letter to ICAI

To
The ICAI President
ICAI Bhawan
Indraprastha Marg
Post Box No. 7100
NEW DELHI - 110 002

Respected sir,
I am grateful to you that your institute produced thousands of Chartered Accountants in last 65 years and this noble profession of CA is playing a significant role in making India a second fastest growing economy of the world. I can understand the challenges which our institute face frequently but as a qualified Chartered Accountant, you must also be aware regarding all the challenges which CA student face from CPT to final. I would like to draw your attention towards the huge amount of dissatisfaction which is growing amongst me and plenty of other CA students due to the downward scaling by ICAI in the result.

With all due respect, I have no hesitation in saying that ICAI is playing with the future of students for ensuring the implementation of demand-supply policy. As if downward scaling alone was not enough to prevent students from qualifying the exam, you people are now judging us from our capacity of craming and retention. It's unfortunate and disgusting that you people are not testing the aptitude of students but you are encouraging craming by demanding study language and bare act of law related subjects. Therefore, we were not surprised when reputed companies sacked various toppers in past as your examination pattern force students to cram as a result of which new generation of CAs not having a practical approach.

According to Regulation 39(2) "The Council may, in its discretion, revise the marks obtained by all candidates or a section of candidates in any particular paper or papers or in the aggregate in such manner as may be considered necessary, for maintaining the standards of pass percentage provided in these Regulations."

In my opinion, this council regulation is not only harsh on students but it has done a great damage to the credibility of ICAI also. We won't mind if you raise the passing marks to 60% from 50% but at least stop running the scissor on our original marks which we get after lot of hard work and efforts. Transparency is the only thing which students expect from you but currently, transparency is the last thing in your agenda.

ICAI has no moral right to support Clean India Campaign of our Prime Minister Shri Narendra Modi Ji. It would be better if you people clean your organisation first, instead of lecturing us on Swach Bharat Abhiyan. Every time CA passing percentage hits new low, you people always come with same irritating statements that only hard working students can crack the exams. Oh! Excuse me, please cut this crap. Do you want to say that only 7-8% students does hard work and remaining students just cook the corn?

For the cheap personal gains, copy checkers makes every possible attempt to fail the deserving candidates. They are afraid of competition and doesn't want young CAs who can challenge their monopoly in market. Lesser the competition, better will be for the old aged Chartered Accountants. Moreover, copy checkers doesn't use their own brain in assessing the answers. They heavily rely on the solutions send by ICAI and don't believe in awarding marks for any other valid alternative solution. I myself seen several copies in which valuers awarded just one mark even if whole answer is correct.

I may sound you a sore loser and grapes may be sour for me but each and every concern expressed by me is genuine and I am hopeful that you will address all these concerns to improve the transparency and credibility of ICAI.

With Regards
Divye Joshi

Donation row: AAP has not violated any law

BJP has sharpened the attack on AAP after AVAM suspected the funding of Arvind Kejriwal led Aam Aadmi Party(AAP). In a press conference today, desperate BJP alleged that AAP has made a serious violation of various provisions in receiving donations from few companies.

But if we will go through the provisions of Representation of the People Act, 1951 and Companies Act, 2013 then no violation of any provision has been  made by AAP in receiving four cheques of 50 lakh each from four different Indian companies.

According to section 182 of Companies Act, 2013, A company, other than a Government company and a company which has been in existence for less than three financial years, may contribute any amount directly or indirectly to any political party:

Provided that the amount referred to in sub-section (1) or, as the case may be, the

aggregate of the amount which may be so contributed by the company in any financial year

shall not exceed seven and a half per cent. of its average net profits during the three immediately preceding financial years:

From the above provisions, it is clear that BJP is interpreting the law as per its own convenience. No provision of Companies Act, 2013 prohibits loss making companies to make a donation to a political party. This 7.5% is a maximum limit, not a minimum.

While, section 29B of Representation of People's Act, 1951 also doesn't make any prohibition on receiving any donation from loss making Indian Company.

Therefore, it is crystal clear that issueless BJP is making every possible attempt to defame the image of AAP but truth always prevails over negative campaign.