50
th
ANNUAL REPORT 2015-2016 THE GEM & JEWELLERY EXPORT PROMOTION COUNCIL
56
In view of the swiftly moving business environment, the legal &
secretarial department of the Council has been equally active
in performing its role of a pivotal support function, and has
been seamlessly effective in rendering adequate business
assistance by way of proper and timely dissemination of legal
opinions and advice. Such legal advice has ranged on a
diverse range of substantive and procedural questions of law
arising in administrative functioning of the Council specifically
designed in order to firmly secure the interest of the Council.
It is a globally recognised phenomenon that the role of
implementing and monitoring legal and regulatory compliance
holds the key to success and survival of the organization.
The Legal department took various initiatives during the last
financial year i.e. 2015-16, to ensure that all the agreements/
contracts are in strict conformity to the requirements of the
Council and that the interest of the Council was protected
at all times from unforeseen circumstances while executing
the Agreements/MOUs with different parties both in course
of regular business as well as during the exhibitions or any
other events. It was ensured that the Council was adequately
compliant in all respects in course of execution of its contracts,
and other legal documentation as and when necessary. The
legal department also takes assistance from its empanelled
solicitors/advisors wherever necessary. The legal function
also monitors the various legal cases pending in the various
courts of law by indulging in continuous interaction with
the empanelled lawyers and other law firms seeking their
assistance in the manner necessary.
Intellectual Property rights plays a vital role in all sectors and
has become a crucial factor for investment decisions by many
companies. The protection of intellectual property rights is an
essential component of financial policy for any country. It is
a very important to plan and protect the intellectual property
rights and hence the Council has protected all its LOGO’s
used for creating a brand by registering under the Trade
Marks Act, 1999 and other applicable provisions of IPR laws.
Compliance Is Key To Survival
The Council does not fall within the ambit of the Right to
Information Act and we are under no obligation to provide any
information to any applicant. However, to attain transparency,
diligent efforts were made in order to answer and provide
information to each of the RTI queries posed by the Members
of the Council, the Ministry and the general public at large.
The Applications filed and received during the financial year
2015-16 under the Right to Information Act were promptly and
suitably answered within the stipulated time.
The function has also imparted appropriate legal advice in
the numerous projects instituted by the Council, viz. India
Diamond Trading Centre, CFC Project, G&J KYC Information
Centre, Swasthya Ratna etc. The legal department has also
been instrumental for ensuring post incorporation compliance
in all these projects as well as the timely preparation and
submission of the 49th Annual Report of the Council.
The Council underwent a significant transformation in the last
year with respect to its functioning when it adopted the recently
issued govt. guidelines on the structure of the Committee
of Administration as well as the constitution of Panels and
number of seats therein. The Companies Act, 2013 also
mandated numerous new compliances as mentioned under
the new Companies Act, 2013 which were also adopted
and approved through the channels as prescribed under
the Act. The Council also conducted vibrant Extra-ordinary
General Meetings in addition to the 49th Annual General
Meeting during the last financial year which observed healthy
attendance both by (Associate & Ordinary) members whereby
based on healthy discussions on issues concerning trade
and industry, individual opinions were also expressed by the
present members leading to landmark decisions being taken
in the best interest of the industry. The legal function was
constructively involved in the preparation/dissemination of all
the relevant documentation both in English as well as Hindi
for the benefit of all members. The legal function was also
entirely responsible for the pre-meeting and post-meeting
compliances as well as the institution of such a collaborative
and interactive platform which enabled the members of
different segments of the Council to take conscious decisions
thereby indicating good and healthy democracy in the
Council.
The Elections to the Committee of Administration was also a
significant and historic affair as the Council was amongst the
first of the Export Promotion Councils to conduct a full body
election for all seats in the Committee of Administration across
all panels in the year 2015 in order to ensure transparency and
effective accountability post adoption of the new guidelines of
the Govt. and the new provisions of the Companies Act, 2013.
The legal function played a pivotal role in the entire process
assisting the management, Election Authority, MoC & I as well
as the members of the Council in ensuring proper compliance
at all stages of the process. The Council also engaged the
services of National Securities Depository Limited to carry
out the voting in the 49TH Annual General Meeting through
Electronic voting which enabled members to cast their vote
on the business transacted without having to attend the AGM.
