Month: May 2013

The Power Mafia

In a year that has been marred by scams and crises, there have been many of those which have not been come out in light. Several of these scams have been up and running since many years and yet have remained uncovered. Maybe due to political pressure, or due to lack of interest such scams have not appeared in the spotlight and hence haven’t garnered enough interest in the public to create any type of furore.

An year and a half after the death of Suresh Singh aka ‘Coal King’ , Reuters has published a special report highlighting the role of ‘Coal Mafia’ in the $35.7 billion Coal mining industry. The Coal Mafia has infiltrated almost every company’s union and controls them. The mafia is responsible for stealing coal and selling it in black market, scaring away investors at the auctions and keeping the base price low and many wrongdoings. The financial impact of all such activities are unknown and clearly nobody is even willing to find out.

It is not as if any of the above information is exclusive. Every bit of it (and most probably much more) is known to Police and Politicians alike. CEO’s of several leading companies such as Coal India have accepted that Coal Mafia does exist and that if they are removed out of the equation India’s coal output can rise as much as 15%. Yet the Coal mafia roams around at large without the police as much as trying to catch them. Hope lies with the media and the public that if the matter comes to light and enough pressure is put on the government maybe such illegal activities can be terminated.

 

29th May 2013

 

coal mine

 

 

Article in Education Times: How to prepare for CA exams

The following article, written by me, was published in Education Times:

Harsh Kundnani, a CA student sheds light on the exam pattern, and what it takes to crack the exam.

The Chartered Accountancy (CA) qualification is one of the most prestigious in our country. The Institute of Chartered Accountants of India (ICAI) is the governing body that conducts the CA exams. Students who clear the final exam, held by the institute, are then absorbed by the industry as qualified chartered accountants (CA).

To pursue CA, one has to clear three exams namely CPT (entrance exam), IPCC (Intermediate exam) and the final CA exam.
Students who want to opt for CA can give the CPT exam after completing Class XII. Subsequent to clearing the CPT exam, students can appear for IPCC exam after nine months of preparation. The IPCC exam has subjective questions based on law, audit, tax, etc as compared to the objective questions in the CPT exam.
After clearing the IPCC exam, a student has to serve as an intern under a practicing CA for a period of three years before being eligible to appear for the final exam.
Passing the exam is not as difficult as it sounds.
Here are tricks that helped me clear the CPT and IPCC exams:
1. How to Study: Regular and quality studies are a must. Most of the times it doesn’t matter how much you study, but how much you can grasp while studying. It is important that you follow a systematic study routine.
2. Study Material: It is imperative that you have good study resources. Tuitions and professional help add to your knowledge, but self-study is of utmost importance in this course. A lot of practice is needed to do well in the exam.
3. Giving equal importance to all subjects: Students usually neglect subject/s they dislike and devote more time to subjects they find interesting. It is imperative to concentrate on all subjects.
4. Making Notes: Making notes, and having pointers for each chapter/ answer helps a student immensely, since it is practically impossible to go through the entire portion one day before the exam.
5. Mock exams: A student is advised to practice mock tests at home as well as under a professional’s guidance. Mock exams help students manage exam pressure and time while writing the exam.

    — As told to Anishaa Sahijwala