50
th
ANNUAL REPORT 2015-2016 THE GEM & JEWELLERY EXPORT PROMOTION COUNCIL
2
Ref. No.: GJEPC/AGM/2016-2017/
Date: 01st December, 2016
NOTICE
Notice is hereby given that 50th Annual General Meeting of the Members of The Gem and Jewellery Export
Promotion Council (GJEPC/Council) will be held on Tuesday, 20th December 2016 at 11.00 am at “BOUNDARY”,
RG-2, MUMBAI CRICKET ASSOCIATION, G BLOCK, BANDRA KURLA COMPLEX, BANDRA (EAST),
MUMBAI- 400 051, MAHARASHTRA to transact the following business:
ORDINARY BUSINESS:
1. To consider, review and adopt the Council’s stand-alone
and consolidated audited Balance Sheet as on March 31,
2016, the Statement of Income & Expenditure and the Cash
Flow Statement for the financial year ended on that date
along with the Report of Committee of Administration (CoA)
and Auditors’ thereon.
2. To consider the ratification of appointment of M/s AMJ &
Co, Chartered Accountants, having Firm Registration No.
128550W, as the Statutory Auditors for the year ended March
31, 2017, on such remuneration as may be deemed fit by the
Committee of Administration.
3. To consider the ratification of appointment of following
Branch auditors, for the year ended March 31, 2017, on such
remuneration as may be deemed fit by the Committee of
Administration:
Regional
Office
Name & Firm Registration No. of
Branch Auditor
Jaipur
Regional Office
B Khosla & Co, Chartered Accountants
F.R.N.: 000205C
Kolkata
Regional Office
Agrawal Himatsingka & Co, Chartered
Accountants
F.R.N.: 317103E
Surat Regional
Office
M/s Natvarlal Vepari & Co, Chartered
Accountants
F.R.N.: 123626W
Delhi Regional
Office
M/s Sanjay Bhalla & Co, Chartered
Accountants
F.R.N.: 019423N
Chennai
Regional Office
M/s GVN Shankar & Co, Chartered
Accountants
F.R.N.: 003760S
SPECIAL BUSINESS:
AMENDMENTS IN ARTICLES OF ASSOCIATION
4. To consider and if thought fit, to pass the following
resolution as Special Resolution:
“RESOLVED THAT
pursuant to the provisions of Section 8,
14 and any other applicable provisions, of the Companies
Act 2013 and the Rules made thereunder, but subject to
the approval of the Registrar of Companies, Maharashtra,
Mumbai, approval of the members be and is hereby accorded
for amendments in the Articles of Association of the Council
as follows:
* Addition of Article 1.1(s):
“Code of Ethics” means the Code of Ethics as currently in force
in the Council and which inter alia, institutes a mechanism in
order to deal with Arbitration issues from time to time.”
* Article 24.1(c) will read as:
“The Committee may from time to time constitute various
Sub-Committees and define its scope, powers, roles and
responsibilities as the COA may deem appropriate and
necessary and the Committee may receive and deal with
reports & recommendations of the various Sub-Committees
that have been constituted and mandated by the Committee.”
* Addition of Article 24.1 (l):
“To determine and codify a Code of Ethics, applicable to the
members of the Council; viz. Ordinary and Associate.”
* Addition of Article 24.1 (m):
“To apply for and be subject to the Bye-laws and Inner rules
of World Federation of Diamond Bourses with respect to
all the matters as mandated to the Diamond Panel by the
Committee.”
* To include the clause 19.1(c) in Article no. 19 which states
that “A person shall be disqualified for being or for continuing
as a member of the Committee if the status of the member
changes from Resident to Non-Resident Indian as per the
provisions of the Income Tax Act.
Further, such person shall not hold the office of the Chairman,
Vice Chairman or shall not hold the office of Convener and
Co-convener of any sub-committee of the Council.”
“RESOLVED FURTHER THAT
pursuant to the provisions of
Section 14 of the Companies Act, 2013 read with Companies
(Incorporation) Rules, 2014 (including any statutory
modification or re-enactment thereof for the time being in
force), and any other applicable provisions, if any, the draft
regulations contained in the Articles of Association submitted
to this meeting be and are hereby approved and adopted
in addition/substitution, of the regulations contained in the
existing Articles of Association of the Company, subject to
approval of Central Government, shareholders and such
other Authority as may be deemed appropriate.”
“RESOLVED FURTHER THAT
Shri Praveenshankar Pandya,
Chairman or any one elected member of the Committee of
Administration (Director) be and is hereby authorized to do
all such acts, deeds and things as may be necessary, proper
or expedient to give effect to this resolution.”
5. AMENDMENTS TO THE CODE OF ETHICS
“RESOLVED THAT
amendments be made to the Code of
Ethics of the Council to bring it in line with bye-laws of World
Federation of Diamond Bourses. (WFDB)”
“RESOLVED FURTHER THAT
Clause 6 pertaining to
Arbitration be amended and would read as “Notwithstanding
what is stated herein, any Member of GJEPC, or in case a
non-Member who consents to the Arbitration facility provided
by GJEPC for resolving any dispute or settling of any claims
arising howsoever the same, shall be governed by the
relevant provisions of the Arbitration and Conciliation Act,
1996, as in force from time to time.”
“RESOLVED FURTHER THAT
Shri Praveenshankar Pandya,
Chairman or any one elected member of the Committee of
Administration (Director) be and is hereby authorized to do
