| February 5, 2007 |
| At the meeting of the Council of the Institute of Chartered Accountants of India (ICAI), held in Delhi, CA. Sunil Himmatlal Talati FCA from Ahmedabad and CA. Ved Kumar Jain from New Delhi have been elected as the President and Vice-President respectively for the Year 2007-2008 effective from February 5, 2007. |
| The ICAI established in 1949 has a membership of over 132,000 members spread all over the country and abroad. In addition about 350,000 students are pursuing the Chartered Accountancy course offered by the Institute. The ICAI functions through a network of 5 Regional offices, 114 Branches and 18 Chapters abroad. |
| MR. SUNIL H. TALATI, PRESIDENT, ICAI |
| CA. Sunil H. Talati, FCA, aged 55 years has been elected as the President of the Institute of Chartered Accountants of India (ICAI), the Apex Body of the profession of Chartered Accountants in India, for the year 2007-08 w.e.f 5th February 2007. Besides being a Fellow member of the ICAI, he is a postgraduate in commerce and also a law graduate. |
| A member of the ICAI with more than 30 years of standing, Shri Talati was elected to the Council of ICAI for the first time in 2001 and thereafter in 2004 and 2007. He was Vice-President of the Institute for the year 2006-07. He has in the past held the position of Chairman of Expert Advisory Committee, Financial Reporting Review Board, Corporate & Allied Laws, Corporate Governance Committee; and Vice-Chairman of Professional Development Committee, Committee for Members in Industry, Board of Studies, Committee for Information Technology and Professional Development Committee. Besides the above, he has also served on the Examination Committee, Disciplinary Committee, Expert Advisory Committee, Committee for Vision & Restructuring, Fiscal Laws Committee, Research Committee, Committee on Ethical Standards, Professional Development Committee, Editorial Board, Financial Market and Investor's Protection, Expert Advisory Committee, Committee on Information Technology. Audit Committee, Accounting Standards Board and Board of Studies as a Member. |
| CA. Talati is also the Chairman of Centre of Excellence on Education, Training and CPD of South Asian Federation of Accountants (SAFA) – an Apex Body of SAARC. He participated in the XVII World congress of Accountants held in November 2006 at Istanbul, Turkey. |
| He has been the Vice-Chairman of the Western India Regional Council (WIRC) of ICAI and also Secretary of the Ahmedabad Branch of WIRC of ICAI. |
| During his association with the ICAI, he was actively involved in preparing Pre and Post Budget suggestions/proposals. He has contributed actively in bringing out different publications brought out by various Committees. |
| Shri Talati has authored the Income Tax Ready Referencer in Gujarati and was also instrumental in bringing out Form 2C of Income Tax Act in Gujarati. |
| Besides achieving excellence in education and profession, he had been excelling in extra curricular activities also. He had been the first Rotaract Governor in India from District 305 and first Chairman of National Council of Rotaract Governors. In addition to the various posts in Jaycees and in other social leading clubs, he was a sportsman right from School and College days; champion in Swimming, Tennis and Badminton. He is a regular columnist in Gujarati 'Financial Express' every Tuesday and monthly Journal Tax Reporter. |
| CA. VED KUMAR JAIN, VICE - PRESIDENT, ICAI |
| CA. Ved Kumar Jain , FCA, New Delhi, aged 53 years has been elected as the Vice-President of the Institute of Chartered Accountants of India (ICAI), the Apex Body of the profession of Chartered Accountants in India, for the year 2007-08 w.e.f 5th February 2007. He stood in the merit list in the CA Intermediate and Final Exams. He is also a Law graduate from Delhi University. |
| A member of the ICAI with more than 30 years of standing, Shri Jain was elected to the Council of ICAI for the first time in 2004 and thereafter in 2007. He has held the position of Chairman and Vice-Chairman of Fiscal Laws Committee and Chairman of Audit Committee. Besides the above, he has also served on the Executive Committee, Disciplinary Committee, Accounting Standards Board, Auditing & Assurance Standards Board, Committee for Members in Industry, Committee on Financial Market and Investor's Protection, Professional Development Committee, Board of Studies, Committee on Ethical Standards, Editorial Board, Continuing Professional Education Committee, International Affairs Committee, Committee on Accounting Standards for Local Bodies as a Member. |
| He specializes in Direct Taxes and has about 27 years experience of handling complicated tax matters, appeals, tax planning of big Corporates. He regularly interacts with Central Board of Direct Taxes on various issues relating to Finance Bill, circulars, notifications, clarifications, extensions etc. |
| He has been a member of Income Tax Appellate Tribunal, Ministry of Law, Justice & Company Affairs, Govt. of India. He regularly contributes articles on tax matters to various journals and newspapers. |
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