Topic:- Internet of Things

Timing: 02:00 Pm

Date: 1st,Dec-2017

Place: Delite Cimena Building


Powered By - KGS Advisors

Team Name - Muskan,Nitesh Nagar,Aman Gera

Link-
Facebbok







Topic:- Audit under GST Act

Timing: 2PM

Date: 24th November 2107

Place: Delite Cimena Building







Startups in India and tax incentives to startups

When: 17th, Nov2017

Venue: Delite Cimena Building


Place: New Delhi - 110002







KGS organized a Panel Discussion on Community Leaders -Hurdles and Success Stories: DIGIkNOW

NEW DELHI, November 10, 2017

A community leader is someone who is perceived to represent the community’s interests and plays the role of protecting them. In general context, A Community leader is a prominent and respected member of a particular community, especially one with an active and specific social or political role or position. Community leaders have a vast range of roles that range from mobilizing communities for a common cause to designing courses of action to overcome common challenges. Ultimately Builders and Leaders of a Community are the people who participate in creation of a platform which gives others a chance to showcase their talent and shine for the collective betterment of society.

Some Common Challenges in path to be a Community Leader include: Lack of Finances, Awareness, Mentorship & Guidance, Required Infrastructure, Motivation and Ambition. Also inability to take on the upcoming challenges continuously and encouraging constructive dissent.

However India has a growing generation with emerging leaders in society. They are capable of inspiring and providing support to their younger counterparts with their proficiency and experience.

So as to learn from such individuals KGS advisors invited a diverse group of community leaders to inspire future leaders with their stories of ups and downs which revolved broadly around on the following themes of talking points: Experience in work till now and what they’ve learnt from it, Personality Traits of a Community Leader, Thought process and tips about efficiency,Crucial factors and strategies in journey to reach the current stage and Societal recommendations for collective betterment.

To elaborate more on such talking points KGS organized a panel discussion through its knowledge sharing platform DIGIkNOW with aim of creating awareness through a creative and stimulating conversation on 'Community leaders -Hurdles and Success stories'

Eminent speakers at the panel discussion were of the following opinion:

Ms. Tripti Shinghal, CEO, KGS Advisors LLP (Moderator)"Community leaders need to follow strict procedures to ensure the going concern of the community and should also work on creating an infrastructure wherein an easy transfer of knowledge can be facilitated to breed next generation of similar community leaders. It’s vital that startup communities, incubators, accelerators, co-working spaces and ministerial bodies working in startup space or micro, small and medium entities, work on validation of ideas / products as starting points to fulfill growth potential.”

Mr. Rangnath Krishna Chandra - Senior Advisor, Mentor support network at NIESBUD: “In my present profile at 70+ I love being useful to the country by contributing my learnings and experiences of interpersonal behaviour, with youth, who is vibrant, enterprising but trying to do lot more at a time, and not one by one scale up with interdependence of opportunities which are co promoting growth, for ultimate desirable of PEACE, HAPPINESS & HARMONY.”

Mr. Uma Maheshvaram - Co-Founder, Indigram Labs Foundation: Talking about the ideal operating framework from his experience in the field Mr. Uma believes that the most important thing is the organization culture. Several aspects were mentioned within this including the need to ramp up according to the dynamics of the market. Any business should be able to simulate to a major set of situations. All probabilities should be assessed, eliminating all risks with things like proof of concept. He does not rule out the need of passion and intuition but believes that an organization should be process oriented rather than people oriented.

Mr. Shivam Ahuja-Managing Director, Delhi Angels: "India is going through exciting phase and degrees are not relevant in pursuing your dream, idea with proper execution and skills do matters in long run, lets talk about skills not just degrees."

Ms. Akriti Bhatia-Founding Partner , Jan ki Baat: “Community building and profitability need not always be antithetical; they can very well be complementary.”

Mr. Anurag Maloo – Regional Manager (South and Central Asia), Techstars : “One needs to have an inclusive and compassionate approach towards community building. No one individual can own the community, it's THE COMMUNITY that owns itself. Community Building is a long-term affair that requires both collaboration and consistency in one’s efforts and programs. The biggest challenge for any community leader is to recognise the talent and focus on nurturing the next generation leadership to maintain the vibrancy and sustaining the growth of their local community.”

Mr. Kanishk Kumar-Sr Key Accounts Director, Enterprise Sales Flock: “Here's a heartfelt thanks to KGS Advisors on this wonderful initiative to bring Diverse Communities closer. It sure is the perfect start to bringing the much needed efficiency and structure into a nascent Community Culture in the Indian Ecosystem. Way to go team, brilliant execution of the idea.”

Mr. Lalit Vijay- Curator, Laracon India: Touching upon the culture of communities in India Mr. Vijay was of opinion that there is a lack of communication within the community. He believes when members of a community come together and discuss problems it is an opportunity to grow and learn. Taking an example of US & Europe he said that culture of community get together there is what inspires him and profit earned from organizing such conferences can be used to make community better.

Mr. Mohit Uppal - Senior Manager, RBL Bank India Startup Club: “Startup community is still in nurturing phase and we need to give right amount of time to understand India oriented eco system before comparing it with any other eco system. Also message for the young Entrepreneur community is to create a startup without having an expectation of getting funds. Work hard on your idea, get it wet from industry veterans, study market penetration and most importantly as John Mason said You were born original. Don't die a copy.”

Mr. Mukesh Malik-Entrepreneurs in Residence, ah!Ventures: “This panel discussion is a great initiative by KGS Advisors as it brings a lot of synergy and helps creating a cohesive effort towards community building. ah! ventures feels privileged to be part of this community of communities. The discussion prompted future succession planning, building leaders and especially the emphasis on Idea validation. The engagement of big government bodies like NIESBUD during not just the discussion but also for future prospects is significant. All in all a very useful engagement.”

Mr. Sameer Garg- Managing Director, BillionAbles: “Creation of a start-up ecosystem for entrepreneurs working for the 200 million users from disability sector through mentoring, hand holding and financial support by creating a fund and bring all stakeholders on a common platform.”

Ms. Somya Singh- Founder, Avant Garde Communications: “Success is both horizontal and vertical which implies that if as a competitive individual I aim to reach to a pinnacle, at the same time as a responsible citizen it is my utmost duty to pull up other individuals too. Taking a cue from nature itself and abiding by the law of nature which is survival of only the fittest. And thus every mentor, community leader or people running various incubation centres should not let the start ups feel as if the journey is full of beds of roses they should rather be brushed and polished so much so that the startups sustain not only nationally but internationally as well.”



KGS Organised Panel Discussion on the Insolvency and Bankruptcy Code

NEW DELHI, October 24, 2017

The Insolvency and Bankruptcy Code, 2016 (IBC) is the bankruptcy law of India, which seeks to consolidate the existing framework by creating a single law for insolvency and bankruptcy. The Insolvency and Bankruptcy Code, 2015 was introduced in Lok Sabha in December 2015. It was passed by Lok Sabha on 5 May, 2016. The code is established to resolve the various issues pertaining to Stressed Assets, Rate of recovery, Cost and Time taken in the whole procedure, ease of doing business index, etc. However, even the current code faces few challenges such as -

1) Expiration of Tenure of IRP Professional

2) No Timeline for Disposal of Appeals

3) Absence of Information Utilities

4) Shortage of NCLT benches

5) Shortage of Skilled Professionals

6) Lack of Consensus among Lenders

7) High Cost of Bankruptcy Resolution Process

8) Non Co-operative Management

9) Dilution of rights of Secured Creditors

To elaborate more on such issues KGS organised a panel discussion on 'Insolvency & Bankruptcy Code'.

Eminent speakers at the panel discussion included:

Mr. K G Somani, Managing Partner, KG Somani & Co. said, " The law is curated in a similar fashion as for other progressive countries like U.S., Singapore and others. Initial issues may take some time to settle, central government seems to ensure that infrastructure is provided which is the major concern today. Insolvency & Bankruptcy Code seems to be a game changer for India; we should be among the top nations of the world as far as recovery is concerned."

According to Ms. Tripti Shinghal, CEO, KGS Advisors LLP (Moderator)said that the biggest takeaway from the act is that the unsecured creditors have not only been noticed but they have also been given preference over government dues, which is happening for the first time.

After the costs of insolvency resolution (including any interim finance), secured debt together with workmen dues for the preceding 24 months rank highest in priority. Central and State Government dues stand below the claims of secured creditors, workmen dues, employee dues and other unsecured financial creditors.

Mr. Gagan Ghai, CEO CrestCapital is of the opinion that the role of valuer is very critical next to IRP or IP and it has to be dealt with utmost professional integrity as well as open eyes and ears. Best industry practices need to be followed amidst limitation of information and management team being available to valuer. Practical defendable values need to be evaluated to assist in preparing a pragmatic resolution plan and very small unsaid details on visit need to be noted to frame such valuations as many times as possible because even small clues may lead to big outcomes for the company by being little investigative at the time of visit.

Mr. M L Rajora, Partner, ASA Legal said, "First 180 days are spent in revival of the company and upon failure the insolvency process will start. The name of code suggests that the code is for insolvency and bankruptcy ignoring revival process involved in it. As such to allay the fear and apprehension the name should be changed to 'The Rehabilitation, Insolvency & Bankruptcy Code'. NCLT New Delhi dismissed an application filled under section 10 by a Borrower M/s Unigreen Global with a penalty of rupees ten lacs to discourage the parties from abusing the process of IBC 2016."

Mr. Rao, Financial Advisor, SCOPE mentioned that the code brings in more visibility & transparency which creates better investment environment and should further reflect on improvement of ease of doing business index of India.

Whereas Mr. Vijender Sharma, Member Central Council ICMA opined that capacity building of IPs, bankers, corporate and NCLT for successful implementation of IB code is required to meet the clear vision of Govt. of India for ease of doing business in India.

According to Mr. R P Tak, Ex - CMD CCI - IBC is a good initiative by the government and was the need of the hour.

Around 11 acts have been merged and 2 acts have been repealed since this act came into force, therefore it has taken care of all the stakeholders including unsecured creditors, and the aspects that was missing until now. Of course certain drawbacks are noticed like misuse of litigation, leading to delay in time bound resolution of 270 days and ultimately forceing the company into liquidation, which should not be the objective. Rehabilitation process cannot be sorted out or resolved without the cooperation or active participation by the promoters. The role of committee of creditors needs to be more elaborated upon, because it is converged from board meetings to Committee of Creditors meetings as the Insolvency Resolution Professional was appointed as per the Code.

Mr. Achal Gupta, Ex-CMD, IFCI Ltd. said, "Given the stringent timelines in IBC 2016, we can expect faster resolution of stressed assets and if resolution is not possible after due process, the liquidation will also be effected quickly. However it will be largely dependent on proper and effective implementation of the code."

Mr. Girish Gupta, Ex- Financial Executive - Cairn Energy was of the opinion that the IBC is a time bound plan. The endeavour of the corporate debtor/promoter should quickly come up with a resolution plan for the growing concern. The powers of the Board stand suspended and the code should clearly lay out the do's and don'ts for all the board members. As the bank and financial institution are having a serious payment default from the corporate debtor, the code should allow to place adequate controls on all related party payments and if required, hold all promoters/KMP remuneration till such time a resolution plan is approved. Alternatively a limited can be placed on the remuneration of KMPs for the services being offered by them whilst the Company operates as a growing concern and preparing a resolution plan.



Wheareas Mr. Pradip Bhandhari, Founder - Jan Ki Baat commented that the Bankruptcy code is a forward looking step to improve ease of doing business in India. However care and caution is needed while implementing its provisions. Creditors and debtors need to be more educated to avoid multiple interpretations of the various clauses. Infrastructure of NCLT needs to be upgraded to dispose the insolvency petition timely. The rehabilitative nature of the code is an important aspect that should not be overlooked. The discussion is a part of a newly curated webcast focussed on technical topics. It will be launched on KGS's social media available for anyone to watch - Students, Professionals, Business persons etc. KGS shall ensure dedicated, transparent and ethical discussion for all its stakeholders ensuring value creation.

About KGS:

K G Somani & Co (KGS) is a 3rd generation Chartered Accountant firm, practicing in India for over 5 decades. Our Managing Partner, Mr. K G Somani is the Ex-President of Institute of Chartered Accountants of India and has represented India on the Council of International Federation of Accountants. KGS is registered with PCAOB and World Bank, RBI and has association with various large Financial Institutions, Banks, Power Companies and Corporations, based in and outside India across various platforms. KGS is a member firm with TGS Global; and have our counterpart across countries. KGS has a distinctive platform providing advisory services to SMEs/Start-ups in India as well as foreign companies looking to establish presence in India. The range of services are tailor-made for the unique requirements within the wide array of Accounting, Auditing, Taxation, Legal, Business advisory, Market research, Human resource management and B2B Handling services etc.



Workshop on Doing Business in Brazil (Sep 01, 2017)

Event Details:

When: September 01, 2017

Venue: Delite Cinems Building,
Gate No 2, 3rd Floor, Asaf Ali Road

Place: New Delhi - 110002







empoWer 2017 Ahmedabad Launch (Sep 12, 2017)



Event Details:

When: September 12, 2017

Venue:CIIM,IIM new campus
sargam Marg,vastrapur

Place: Ahmedabad



empoWer 2017 Hyderabad Launch (Sep 13, 2017)



Event Details:

When: September 13, 2017

Venue:91 springboard
plot no-44,kavuri hills

Place: Hyderabad,Telangana





empoWer 2017 Delhi Launch (Sep 15, 2017)



Event Details:

When: September 15, 2017

Venue: D-57
100 foot road,chattarpur

Place: New Delhi







About QueensXI - 31st August to 2nd Sep 2017 at Abhi Sports Complex- Gurgaon

Sehwag Cricket Academy and NGO COWE presents Queen'sXI



The women behind Queen'sXI are two passionate and women-oriented minds who visions a better tomorrow for women in sports- Mrs. Archana Gupta, Director KEI Industries Ltd. and Tripti shinghal somani , CEO -KGS advisors who joined hand to support as common cause of #womeninsports.

New Delhi, 02 Sep 2017: Sehwag Cricket Academy and confederation of Women Entrepreneurship COWE, Delhi is launching ‘QueensXI a Cricket league for Women’ with great optimism and open heart from 31st august to 2nd September. COWE believes that through leadership and entrepreneurship, women can become the torch bearers of woman power. We are currently present across India.

Queen'sXI Women Cricket League aims to give encouragement to women in sports. QueensXI programs aim to fulfill the basic needs of women in sports, needs that are identified through experts and certified organizations. This program helps shape women's passion for sport into reality by bringing them the opportunities, best equipment and experiences on and off fields and in the boardrooms across India.

Sehwag Cricket Academy (SCA) is founded by International Cricketer - Mr. Virender Sehwag. The Academy provides structured coaching and development programmes for amateurs and professionals in various age groups and skill sets.

Opening ceremony of QueensXI Women Cricket League on 31st august was attended by various dignatries including Ruby Yadav, Chef Gautam Chaudhry, Sanjana Jon, Shibani Kashyap, Suvarna Raj, Parull Maahajan, Leher Sethi , Ruhi Ganguly , Gaurav gupta , Mallika Chaturvedi and Nidhi sharma and Deep Bajaj.

Our biggest challenge is to support every possible woman in sport.

Narender Modi ji's biggest campaign says "Beti bachao Beti Padhao", we with QueensXI we aim to give a different side to the same mission ‘Beti Bachao BETI KHILAO", give her the freedom to play as well. We endeavour to bridge the gap of opportunities that are currently biased and available for men as compared to women.

QueensXI is an open category Cricket league with national and International female cricket players. www.queensxi.com

First day at League witnessed participation from 8 teams –

1) Northern Railway

2) North Central Railways

3) Central Railway

4) Confederation of women entrepreneurs (COWE – a mix team from all over India)

5) Haryana Kings

6) Gwalior XI

7) Chandigarh (LIC)

8) Sri Lanka Airforce team.

Final match was concluded in the presence of Mr Virender Sehwag on 2nd September at 4 pm and was attended by various dignitaries Blossom Kochhar , Deepa Malik, Priyanka Suresh Raina, Gauri Sarin, Zaheer Khan (Afghanistan) , Divij Gupta, Major General Dilawar Singh, Bhayana Yogita, Geeta Grewal , Shilpa Sonal, Rekha Chaudhari, Renu Sharma, Papiya Banerjee, Manu Dangi, IAS Ira Shinghal, IPS Rachita Jewel, Nikhil Arora, Rajesh Goyal, Shantanu Gupta, Nikhil Sharma and Smriti Chhabra.

Virenda Sehwag handed over the awards for various categories - Women of the matches, Women of the series, Best Bowler, Best fielder and Best batswoman.

Semi Final took place on 2nd September between

Sri Lanka Air Force vs Haryana Kings

Northern Railways vs LIC Chandigarh

Final match took place between Srilanka Air Force Vs LIC Chandigarh LIC Chandigarh (77 runs) won by 10 runs.

This initiative needs to be nurtured with an open mind and a practical approach. Women’s cricket has to be understood on its own merit, independent of Men's cricket performance. Importantly efforts have to be made for general acceptance amongst public for the sport played by women who roughly constitute 50% of the population. This initiative needs to be nurtured with an open mind and a practical approach. Women’s cricket has to be understood on its own merit, independent of Men's cricket performance. Importantly efforts have to be made for general acceptance amongst public for the sport played by women who roughly constitute 50% of the population.




IIFT organized annual summit “LauchPad @ IIFT”:-

The Entrepreneurship Cell of IIFT, Delhi organized LIIFT (Launch Pad at IIFT), an Entrepreneurship Summit conducted in collaboration with Udaan Skill and KITTES powered by KGS advisors was inaugurated by Shri. Amitabh Kant (IAS), CEO - Niti Aayog and was presided over by Dr. Manoj Pant, Director - IIFT amongst the presence of distinguished guests including Shri. Harkesh Kumar Mittal, Advisor & Member Secretary, NSTEDB who graced this occasion with his august presence.

The maiden session of the summit had a discussion around the theme – ‘Journey from ideation to my first sale’. The esteemed panel consisted of Kaushik Saha, Chief Technology Officer at Samsung R&D Institute India; Kanupriya Saigal, EVP Marketing & Corporate Communication at NCDEX; Vivek Dhaiya, SBU Head at @SagaciousResearch and Mr. Juergen Hase, CEO at UNLIMIT Powered by Reliance.

The second panel of discussion of the summit was based on the theme–‘The Story Behind’ and the esteemed panel consisted of Priyanka Chaudhary, Co-founder - Gracia Raina foundation, Tripti Shinghal Somani CEO - KGS Advisors, Niraj Sharan, Chairman and CEO - Aura Inc., Mukesh Maliik, CEO - Project GK, Manasvi Singh, Co-Founder and Co-CEO Buddy4Study.

The final panel discussion was based on the theme - “Why Investors Say No."The esteemed panel consisted of Vikram Gupta, Founder & MD - IvyCap Ventures, Gagan Ghai, Business Mentor - IvyCamp, Dhianu Das, Angel Investor & Serial Entrepreneur, Amit Kharabanda, MD - MyBox, Roma Priya, Founding Partner - Burgeoning Bizsupport and Rajan Bhatia, Director - Rajan Bhatia & Company.



Event Details: August 20, 2017

Place: Hyderabad




SEMINAR ON “GST: ALL YOU WANTED TO KNOW”:-

The Goods and Services Tax (GST), the biggest reform in India’s indirect tax structure since the economy began to be opened up 25 years ago, at last looks set to become reality by July 2017. GST will not only make the tax system simpler, but will also help in increased compliance, boost tax revenues, reduce the tax outflow in the hands of the consumers and make exports competitive.

In the context of the above, Scope has organized a single day program on “GST: All You Wanted to Know” with KGS Advisors LLP with an aim to benefit mainly the CEO’s/CFO’s, Functional Directors and Independent Directors on Board and other Senior Management Personnel and would provide an opportunity to those attending the program to interact with eminent faculty from KGS Advisors LLP and articulate their specific issues.

KGS Advisors LLP is an advisory firm with rich & wide experience and deals in providing one stop solution for domestic companies starting up & foreign companies setting up in India. The range of its services are within the wide array of Accounting, Auditing, Taxation, Legal, Business advisory, Market research, Human resource management and B2B Handling services etc.

Event Details: December 22, 2016
Venue: Scope Convention Centre, Scope Complex 7-Lodhi Road,
Place: New Delhi-110003



Womennovator 2016

COWE India Excellence Awards

These awards will celebrate the triumph stories and records of passionate women within you who changed the vision and value of being women. The awards recognize women leaders for their exceptional championship of gender equality and support for Women Empowerment.

Walk your Product & Services

A big opportunity for innovators, educators, hackers, designers, artisans and anyone who is passionate about exploring new marketing options and showcasing their passion. You can actually walk your product at highly acclaimed event to a great audience. This shall be judged by eminent investors and women entrepreneurs. Its an unique platform to get customers, investors and business partner.



Partnership with MITGSW


KGS Advisiors LLP, nurturing MSME’s in India, is working with MIT GSW to make the event have multiplier effect in India by touching all sector of society.

The 2016 Workshop will build on the overwhelming success of the MIT GSW in the past, which brought together thousands of participants from more than 70 international markets and representatives from across the globe. Since 1998, this non-profit organization has held 18 international workshops, spanning 6 continents, and has attracted participants from over 70 nations.

The MIT GSW is the world’s premier workshop dedicated to fostering entrepreneurship, inspiring future innovators, and building entrepreneurial ecosystems globally. Each year, the workshop takes place in a different location, and brings together over 300 entrepreneurial leaders, executives, students, next generation entrepreneurs, professors, financiers, government agents, and private supporters to build a global support network for entrepreneurship. MIT GSW bridges boundaries across different sectors to stimulate discussion, generate ideas, and share best entrepreneurial practices.

A powerful way that MIT’s education drives progress is through the graduates starting companies that deliver innovation, skills and knowledge to the world. A report released this month informs us that living MIT alumni have launched more than 30,000 active companies, creating 4.6 million jobs, and generating roughly $1.9 trillion in annual revenue.

Budding Entrepreneurs Register Now here !
Find the 2016 MIT Global Startup Workshop conference agenda here.

Key Deliverables:


  • Unparalleled access to mentors: recruiting 1 mentor for every 10 attendees
  • International competitions: elevator pitch and business plan (cash prizes) competitions
  • Hands-on training: providing multiple hands-on activities where attendees do work in small groups, and with mentors, on business plans and pitches
  • Monitored profiles of attendees: setting up a new registration process to monitor representation at the workshop of gender/nationality/skills with three main profiles: creative, tech, business


Event Details: Date: March 21-23, 2016
Venue: To be confirmed
Place: Hyderabad, India

Send your nomination(s) for the summit to Mr.Narender S. Jamwal at narender@kgsadvisors.com (+91 9810418405)
For more details, please visit the Workshop Website here