Highlights of the month 
                                                           FY  2018 - 19

Managing Committee monthly meeting was held on 16. 03. 2019 at 5.00 p.m.
Number of members present:  14

Position of inflow of funds during the month, 01.02. 2019 to 28.02.2019 and cumulative for the year as on 28.02.2019 are given below.


        For Feb.  2019

  Cumulative till
28. 02. 2019

   Number Rs. Number Rs.
Patrons 3 3,800    19 18,800
Endowments :NEW 5 2,45,000 31 23,98,404
Endowment-Addition 22 8,13,446 132 37, 30,017
Donations 5 66,000 25 57,63,717
Foreign Loan Repayment - - - -
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TOTAL 10,88,446 1,19,10,938

Meeting with GSB Connect was held on Monday 11th March 2019 by Smt. Gita Pai and Ganesh Shanbhag with the representatives of GSB Connect Shri Uday Malya and Mrs. Bina Shenoy

Communication is again sent to GSB Connect, expressing inability of the League joining the scheme as majority of the committee members have not approved of the same.

Mrs. Gita Pai read out the new applications for Patrons, new as well as additions to  Endowments. Committee approved of the same.

During this year, the number of new Patrons and new Endowments is lesser than the average. Members are requested to give attention to add as many as possible in the coming months

Mr. Anand R.Shanbhag presented the Investment Committee’s recommendation for the funds available during the coming months. This was accepted. Mr. Ramesh Bhandarkar will act upon these investments.

Shri Ganesh Shanbhag then briefed the members about the pending tax demands. He said that

  1. For A.Y. 2016-17 the demand of Rs. 44,84,185/- was raised for not filing of Audit Report in Form 10B and not filling up of audit information in the ITR. However both these findings were wrong and hence an appropriate response has been filed online in respect of the same.
  2. For A.Y. 2017-18 a communication has been received from IT Dept for non-filing of Form 9A which was newly introduced. Revised Return is now being filed to rectify this defect.

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