Re: Rs 5K Adjustment

[anand jayanthi]

Dear Sundaram,

 

I understand that you are unable to confirm the calculations/numbers provided by me as the accounts are not entered in Tally by the accountant for the past several months.

 

Therefore request you to hold the adjustment for Rs.5K until all the previous accounts(Apr 2013 to 5th Jan 2014 ) are reconciled and completed.

 

Hope you are aware that for the financial year 2013-14 accounts needs to be coordinated and completed by different stakeholders ( Aswin, Jayanthi, Sundaram) for the 3 different periods (Apr to June, July to Sept, Oct to Dec).

 

Therefore kindly do not make any adjustments for Rs 5K in the Jan-Mar 2014 invoice until the exact adjusment value is arrived using the help of accountant as this needs to be adjusted against the operational expenditures incurred during our period (July-Sep 2013). Once we have reconciled the finance, we will provide the exact refund information.

 

Our MC members will support the Accountant by providing the necessary vouchers, payment details for calculating the exact adjustment value for Rs 5K and also close the accounts for our period July to Sep 2013.

We will also provide any help / information/ documents needed to validate the accounts for Oct to Dec 2013 by the Interim committe.

 

We will target to get this closed in next 3 weeks time.

 

 

Regards,

Jayanthi KP

 

From: Sundaram N <nsunda...@yahoo.in>
To: anand jayanthi <jayanth...@yahoo.com>
Cc: manivannan <mshre...@yahoo.com>; Shivaprasad Acharya <Sivaprasa...@synopsys.com>; Raviraj <ravira...@yahoo.co.in>; Balavenkataraman( Vinod) <balav...@yahoo.com>; "rga...@googlegroups.com" <rga...@googlegroups.com>
Sent: Thursday, 23 January 2014, 23:25
Subject: Re: Rs 5K Adjustment

Dear Ms. Jayanthi,

 

We are not in a position to confirm your calculations/numbers as the handover of financial documents/vouchers/files have not yet happened.  It would need detailed review including contract documents and coordination with accountant/auditors & updation of book of accounts in tally including associated reconciliation before we arrive at any conclusion.

 

In effect, we need unaudited balance sheet/Income and expenditure statements till 5th Jan 2014.  As you may be aware, for the last two weeks, we have been intensively focussing on reining in huge outstandings (o/s reduced from 7.6 Lacs to Rs.3.2 lacs with several others expected), understanding and processing of adjustments both for Rs.5,000 as well as Rs.2 Vs. 1.7 Vs. 1.2, coordinating with Jayaram Das, our accountant to get the receipts updated in tally including reconciliation, etc.  etc.  We were also told by Jayaram Das that accounts have not been updated in tally for several months.  Under the circumstances, reviewing of your data and asking for our confirmation at this juncture is not feasible.

 

Regards

 

Managing Committee

 

 

From: anand jayanthi <jayanth...@yahoo.com>
To: Balavenkataraman( Vinod) <balav...@yahoo.com>; Sundaram N <nsunda...@yahoo.in>
Cc: manivannan <mshre...@yahoo.com>; Shivaprasad Acharya <Sivaprasa...@synopsys.com>; Raviraj <ravira...@yahoo.co.in>
Sent: Wednesday, 22 January 2014 11:46 AM
Subject: Fw: Rs 5K Adjustment

Dear MC,

 

Please find attached the updated sheet for adjustment of 5K.

You may kindly evaluate and confirm the calculation/numbers as required.

 

Regards,

Jayanthi KP

----- Forwarded Message -----
From: anand jayanthi <jayanth...@yahoo.com>
To: Balavenkataraman( Vinod) <balav...@yahoo.com>; Sundaram N <nsunda...@yahoo.in>
Sent: Tuesday, 21 January 2014, 15:49
Subject: Rs 5K Adjustment

Dear MC,

 

This is to inform you not to consider the value specified in the 5K Adjustment document sent earlier to the members for making adjustments in the Jan-Mar 14 invoice bill. This is because the deposits liquidated amount and maintenence dues collection amount were not included to calculate the disposable bank balance.

 

Kindly note that 5K was collected from  members based on resolution passed in AGM on 4th July 2013, wherein the disposable bank balance was projected as 7.8 lacs (Approx) -which includes  balance of maintenence from members + interest on sinking fund + deposits liquidated.

 

Pasting the snippet of AGM minutes for your reference:

7. Deficit in Finance:

 

Mrs. Stuti Jain, President  updated all the members that there is a deficit in our current cash balance and there isn’t sufficient balance available to take care of the July-September expenses.

 

Mrs Uma and Mrs Jayanthi updated that:

n  Expenses for the months August – September is Rs. 13.5 Lacs (Approx)

n  Total disposable balance (balance of maintenance from members + interest on Sinking Fund+ deposits liquidated): Rs 7.8 Lacs (Approx)

 

This results in a cash deficit of Rs. 5.7 lacs (Approx) for the period ending 30^th September 2013.

Mr. Aswin clarified that this was primarily due to higher expenses over income generated during the last year.

 

The outgoing MC sent the Financial Report (July-Sep) 2013 to the owners to justify the reason for collecting Additional Fund. In this report the bank balance includes liquidating funds and maintenence collection.

 

Pasting the snippet of report for your reference.

 

	22-06-13
Particulars
Bank Balance
Carry Over Balance	0
Canara Bank	68732
Corporation Bank	4847
Vijaya Bank	64189
Short-Term Fixed Deposit	200000
Sub-Total (A)	337768

 

 

 

 

 

 

 

 

 

 

 

So when the adjustments are made for 5K the deficit should be calculated based on the disposable bank balance that includes(deposits liquidated & maintenance dues from  members) as specified in the AGM and communicated to members.

 

 

Regards,

Jayanthi KP

Treasurer (Outgoing MC)

[Aswin Kumar Koneti]

This is to clarify that all accounts upto 30th June 13 has been entered in tally by Accounting services provider Mr Jayaram and then handed over to Jayanthi / Uma after due verification and a handover meeting.

I would recommend that the entire accounts for the year should be maintained by one person - either in house or by Mr Jayaram. It cannot be in bits and pieces and responsibilities shared by multiple stakeholders.

Trust I have clarified

Regards

Aswin

[anand jayanthi]

Dear Aswin,

 

I agree that you have entered in tally and handed over to us. Hope you are aware that there were a few open points.

If the new committee needs any clarification for the period (April to June ) during reconcilation for the financial year, your support/coordination is required.

 

Your suggestion that the entire accounts for the year should be maintained by one person, is a good one!

 

Regards,

Jayanthi KP

From: Aswin Kumar Koneti <kmaswi...@gmail.com>
To: anand jayanthi <jayanth...@yahoo.com>
Cc: Sundaram N <nsunda...@yahoo.in>; manivannan <mshre...@yahoo.com>; Shivaprasad Acharya <Sivaprasa...@synopsys.com>; Raviraj <ravira...@yahoo.co.in>; Balavenkataraman( Vinod) <balav...@yahoo.com>; "rga...@googlegroups.com" <rga...@googlegroups.com>; Rosegarden Group 2013-14 <rgmc-2...@googlegroups.com>; Stuti Jain <jain....@gmail.com>; Uma Sp <uma...@gmail.com>; Rahul Soundrarajan <rahul...@gmail.com>; SUBHRAJIT GUPTA <subro...@yahoo.com>; Subhash Gowda <rsu...@gmail.com>; Chitra Verma <verma_...@yahoo.co.in>; "raim...@yahoo.com" <raim...@yahoo.com>; Mallikarjuna Bavanasi ( RBEI/ BSI2) <Mallikarju...@in.bosch.com>
Sent: Friday, 24 January 2014, 10:36

[Aswin Kumar Koneti]

Suggestion is not a good one - it is mandatory.

Let us not have Trial balance for different periods floating in different computers.

We must have one trial balance consolidated from April 13 to March 14 in one database. It is the responsibility of the succeeding MC to ensure it.They must handover cumulative balance as on date or handing over date to the new MC.

Regards

Aswin

[Balavenkataraman(Vinod)]

I am forwarding the mail which i have replied to ms jayanthi since it was not delivered to the other members

----- Forwarded Message -----
From: Balavenkataraman(Vinod) <balav...@yahoo.com>
To: Jayanthi C702 <jayanth...@yahoo.com>
Cc: "manivannan ; Shivaprasad Acharya ; Raviraj ; nsunda...@yahoo.in; "rga...@googlegroups.com" <rga...@googlegroups.com>; Rosegarden Group 2013-14 <rgmc-2...@googlegroups.com>; Stuti Jain <jain....@gmail.com>; Uma Sp <uma...@gmail.com>; Rahul Soundrarajan <rahul...@gmail.com>; SUBHRAJIT GUPTA <subro...@yahoo.com>; Subhash Gowda <rsu...@gmail.com>; Chitra Verma <verma_...@yahoo.co.in>; "raim...@yahoo.com" <raim...@yahoo.com>;" <mshre...@yahoo.com> <Sivaprasa...@synopsys.com>" <ravira...@yahoo.co.in>
Sent: Friday, 24 January 2014, 14:34
Subject: Re: Rs 5K Adjustment

Dear Ms. Jayanthi/ Outgoing MC

 

Can you kindly tell from when you started discussing this adjustment issue first.We received your mail for the adjustment three days back or tuesday 21-01-2014.EGM has been conducted on 05-01-2014 and better than anyone you are aware what is the status of our accounting entries

 

Our challenges which you are aware are firstly,adjustment for members who have paid in Rs 1.2 vs Rs 1.7 and Rs 2.To reconcile this only took us lot of time since there where no entries in the books of accounts,

Secondly is adjustment for Rs 5000,you are aware  what has been discussed without giving details for Rs 5000 members will not agree to pay any amount without giving explanation for the amount collected.That is the reason we have sent the details before calling egm.Infact you took one day to give the details.Based on your details we have arrived the adjustment in the bill for 4th qtr.

 

Apart from this we are getting notices daily from various Government Officials including TDS, PCB, etc.  which I hope you are aware.We have been handling everything one by one. Hope you understand the time and effort what has been gone in to close the above mentioned issues.

 

Coming to your mail for the Rs 5000 adjustment how you are telling as unacceptable is shocking for us.We have come to conclusion of adjusting as per your statement given for Rs 5000,any further delay we cannot issue bills for the fourth quarter.Without doing adjustment members are not going to accept since we discussed in the egm.We have decided to issue the credit and once the accounting is completed from your end till 5-01-2014 then we can arrive on how much we have to adjust.

 

With coming to the adjustment of Rs 2 lakhs we cannot do as per your sheet since we have not discussed in the egm.As i checked with auditor also any surplus made out of maintenance charges cannot be refunded to the members.Rs 2 lakhs is surplus deposit collected by the previous mc and not the outgoing mc.Without understanding any implications and the provisions in Bye laws, let us not do as per your suggestion.If you feel we should have give credit for Rs.2 lacs, you should have discussed in the egm and if you have brought the proposal and approved by the members at the egm we could have done without any discussion.This discussion you have brought to our notice on 21-01-2014 and if you feel your latest working statement or stance that no adjustment to be given in Jan 14 to Mar 14 maintenance bill goes against the spirit of what we circulated to members and what we discussed at EGM.

 

If you feel it is not acceptable,do you think the way rs 5000 or Rs 3600 collected without considering Rs 2 lakhs is acceptable? also not discussing this rs 2 lakhs in the several egms including last EGM is acceptable?  Please note we have executed actions whatever was discussed at last EGM.  We have not considered this Rs.2 lacs siince this was not discussed and approved by members.  This was brought to our notice only on 21st Jan 14.

 

Let us think and proceed further constructively in solving the sensitive and burning issues including complete handover by old MC rather than spending our energies in this chain of correpondence which can be completely avoided.. 

 

Regards

 

Bala

 

 

 

 

 

 

From: anand jayanthi <jayanth...@yahoo.com>
To: Sundaram N <nsunda...@yahoo.in>
Cc: "manivannan ; Shivaprasad Acharya <Sivaprasa...@synopsys.com>; Raviraj <ravira...@yahoo.co.in>; Balavenkataraman( Vinod) <balav...@yahoo.com>; "rga...@googlegroups.com" <rga...@googlegroups.com>; Rosegarden Group 2013-14 <rgmc-2...@googlegroups.com>; Stuti Jain <jain....@gmail.com>; Uma Sp <uma...@gmail.com>; Rahul Soundrarajan <rahul...@gmail.com>; SUBHRAJIT GUPTA <subro...@yahoo.com>; Subhash Gowda <rsu...@gmail.com>; Chitra Verma <verma_...@yahoo.co.in>; "raim...@yahoo.com" <raim...@yahoo.com>;" <mshre...@yahoo.com>
Sent: Friday, 24 January 2014 12:19 PM
Subject: Fw: Rs 5K Adjustment

Dear Sundaram,

 

Even after repeated discussion on the 5K adjustment (which is still open) and you have acknowledged in the below mail that you are not able to confirm the value since the accounts have not been reconciled, I do not understand the need for you to show the adjustment value in the reconciled statement you have sent to owners along with the invoice for the jan-mar 2014.

 

This is unacceptable.

 

Regards

Jayanthi KP

Treasurer (Outgoing MC)

 

[Manivannan]

Bala

If the direction is settle everything in the interest of all, writing a big mail pointing that you are doing a favour, better keep your emotions self. I can also write big mails rightly so is the case for most of us, and if every one will stick to thier arguments/stand nothing will move forward, hope you agree. Expectation defer but what is available or happened no can change the situation. 

As stated in the below mail all key stakeholders is required bcoz the situation is unique since it is in bits and pieces issue, so all have to sit and go thru the entire handover peacefully. Recently there is a credibility issue also crept in, advisable to keep cool and reach the logical end. Reason for all this is leadership role is missing, no problem having understood the situation, lets move forward as a team.

Lets stop the exchanging mails except for update of handover confirmations.

regards

Mani

Sent from my iPad

[anand jayanthi]

Dear Bala/MC,

 

I hope you are aware and acknowledge that I have also contributed and am part of action items towards resolving PCB, Fire and Compliance issues.

 

The EGM on 5th Jan 2014 was called by Mr Bala and Mr Sundaram and not by the outgoing MC. So there is absolutely no necessity or requirement from the outgoing MC to talk anything about their agenda items.

Also, Rs 5k adjustment data that includes 2 lacs FD is part of the outgoing MC's handover process to the new MC. So why should it be discussed in the EGM which Mr Bala and Mr Sundaram called for?

 

The outgoing MC had already got the approval from members in the AGM held on 4th July 2013 to utilize the 2 lacs fund for managing the payments during the qtr July - Sep 2013. So your point that it was never brought in any EGM/AGM is incorrect.

 

Just like you are trying to proceed on actions that was discussed in EGM which you called for, I am trying to close on my action items as Treasurer of outgoing MC as per the approvals provided to us in the AGM held on 4th July 2013.

 

I have never recommended refund of 2 lacs to members. It has to be adjusted against the expenses incurred in July - Sep 2013 as approved by members in AGM on 4th July 2013. 

 

Also, the surplus fund created by previous MC wherein I was the treasurer is 6 lacs and not 2 lacs. So please find out on what happened to 4 lacs because as an owner I have neither received any refund nor received any information on adjustments on the surplus fund. Alternatively, you can check the balance to find out where the 4 lacs is hiding. You may also take your auditors help & consultation to investigate on the missing 4 lacs surplus fund.

 

To my knowledge, the 4 lacs has been adjusted towards the operation expenditure by previous MC.  You may however confirm the same.

 

I have brought to MC's notice about the 5K adjustment value as part of my final reconcilation of accounts for my tenure and had requested you not to make adjustments based on preliminary calculations on 21st Jan 2014 when the invoices and reconciled statement were still not prepared and distributed to members.

 

While you were so much concerned about the accuracy of my updated statement on 5K adjustment value, you have gone ahead and made the adjustments based on the preliminary calculations (knowing that the values are  not as per reconciled data) only for reasons that favoured new MC to collect more money from members. 

 

You also chose to hide facts/numbers on the 5K adjustment value to prove your efficiency.

Instead you could have been transparent to members and could have asked for their approval to utilize the balance fund in 5K for your teams initiatives. It would have been much appreciated.

 

Regards,

Jayanthi KP

Treasurer (Outgoing MC)

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[uma...@gmail.com]

Mc,

Would like to clarify the accounting has alway been with mr .Jayaram . ( not in bits and pieces) He would need to update the vouchers in tally post which we would check it and hand over the updated tally balances to the new mc .

Regards ,

Uma

Sent from my iPhone

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[Balavenkataraman(Vinod)]

Dear Ms Jayanthi,

 

I have not claimed i or the new mc has done everything.But for the past three weeks we have been working till late night to close all the issue.I have not mentioned about the non compliance issues.We are aware and appreciate your support.

 

When the outgoing MC collected Rs 5000 we understand it is there responsibility to close the loop,we also appreciate the ownership towards this adjustment.

But the new mc nor the members has never stopped doing this,infact Rs 5000 was collected in the month of July or August,the adjustment could have been made in the maintenance bill for the period October 2013 to December 2013.This adjustment could have done when the EGM happened to collect Rs 3600.It didnt not happen when the outgoing committee was operating fully till october 2013.We have also not discussed in the last egm held,if the outgoing committee feels it need not be shared or got approval from the members is not in a right path.You are not recommending to adjust Rs 2 lakhs but it has to be adusted in the maintenance bills,in that case why it was not done in the third quarter bill.untill the accounts are updated till 05-01-2014 we cannot take any decision to this since we dont know what is the actual deficit or excess as per our books of accounts.

 

We are not discussing anything about Rs 4 lakhs as of now.If the outgoing committee wants to have a clear picture you all are welcome to form a subcommittee and evaluate what has happened.We are not responsible for any transaction prior to 04-01-2014.You have also mentioned that some reasons that favoured new mc to collect more money,which is more disturbing to us.Your mail states that we have choosed to hide facts numbers on the 5k adjustment value to prove our effieciency.I request to take back this statement.Kindly understand first of all we dont have any data to evaluate since the books of accounts has not been updated and without having anything where is the question of hiding facts.We have worked only with data whatever provided by the outgoing committee on excel sheet.I hope no member or  auditors will accept.We have not hided anything and if we hide also inreturn we are not going to benefit anything personally.I request not comment on this approach.

 

I have mentioned all the points in my previous mails and i dont want to write again.I dont want my other friends to feel i am writing mails emotianally.Since we got mail on this Rs 5000 adjustment  it was our responsibility to reply.Hope i have clarified and anything further to this will be discussed in the EGM.

 

Regards,

R S Balavenkataraman(Vinod)

m 9845219351

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[Aswin Kumar Koneti]

Pl delete me from mailing list.

The assertion that Mr Jayaram is the accountant of RG is not correct.

In this regard, pl find attached the mail dated 27th Aug 13 wherein Jayanthi has clearly communicated that no external accountant would be used to handle RG accounts. 

If Jayaram was the accountant then he must have been paid from July to Dec 13 - which can be verified from the books.

I do not want to get into multiple communications on this. Once again request you to delete me from this mailing list.

Regards

Aswin