Finally got reply from ICAI to my RTI query on the expenditure being incurred on contructing buildings for the past couple of years and it has revealed some interesting info....sample this:
1. 58 building projects sanctioned between Feb 5, 2008 and Feb 11, 2010. From Kashmir to Kanyakumari, building projects have been sanctioned all over the country...no discrimination against any state!
2. 44 of 58 building projects have taken off in last 2 years and atleast the land seems to be in place for these 44 projects.
3. Rs 69cr expenditure to be incurred on constructing these buildings...BUT this does not include the cost of contruction for 24 building projects, since they have not yet been estimated! As per my estimation, assuming a very modest Rs 2cr average contruction cost for these 24 buildings, total cost of all building projects will work out to roughly Rs 117cr!!!!!!!!!!! ( one of my stock broker friend said " this is more than capex of many listed cos!!!!! " ......maybe we should list ICAI as well :)
4. Since many of these building projects are in cities and towns where it would be tough to locate even 100 odd CAs and therefore impossible to raise enough money from local CAs to finance the building cost, the President has shown his benevolence. The President has distributed a largesse/donation of Rs 18.5cr to these building projects from ' President 's Discretionary Fund!!'
If you are a junkie like me who wants to know all the exotic locations where these buildings are gonna come up , leave your mail id in the ' Comments ' section and i will mail you the ICAI reply to my RTI, along with the relevant attachments.
This is my first post and just the begining of a long battle to reform our ICAI 's functioning.
