MEET 6, ELLIOT PARK,28 December 2008

The meeting got underway at 7 A.M. when MoC, Neha Dhanuka addressed the mentors and introduced the theme to mentors - Mr. Manish Agarwal and Mr. Mahesh Goenka. As per the agenda YP’s Ankit Tulsian, Harsha Kothari and Ateet Saraf presented papers and explained the “Hutch Vodafone Deal and its Tax Implications”
YP Ankit Tulsian introduced the case to the mentors and fellow YP’s. YP Harsha Kothari followed it up by explaining the legal and technical issues relating to the cross border acquisitions. She further explained the law and regulations governing the case as well as relevant observations of the Bombay High Court. Finally Ateet Saraf summarized the case by giving valuable insights on the case. Mentors appreciated the effort and contributed with additional points on the case. Mentors discussed the relevance of this deal in Indian context and encouraged other YP’s not to be nervous while addressing the forum. Thereafter Mohit Jain addressed the forum by giving valuable insights on the very recent Ponzi scam by Bernard Madoff. He explained how even in this post Enron age we're still having problems with white-collar thieves like Bernard Madoff. Mr. Vikas Jain pointed out the parallels that could be drawn in India and the lessons that can we can learn from this fiasco. There were more encouraging words from the mentors before they excused themselves.
After a brief feedback session, YP Manisha Jajodia gave an overview on IAS 27 – Consolidated Financial Statements. YP Priyanka Sureka steeped in for YP Neha Gupta to explain the departures and similarities of IAS 28 – Investments in Associates corresponding to AS-23. Finally YP Aditya Sureka explained IAS 29 – Interests in Joint Ventures corresponding to AS - 27.
Finally YP Shovit Lakhotia along with scorekeeper YP Ashok Mahawar mastered a quiz session which was thoroughly enjoyed by all.




MENTOR’S CORNER:
i) Topic should be presented in one’s own words and should not be read out.
ii) Technical issues should be in a question answer format so that each member can contribute to the discussion.
iii) Each member should have a general idea about the topic beforehand so that he could easily correlate the presentation.