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To:
All Members
From:
Amit Bhatia, CEO-IIC
Date:
24 March 2015
Sub: March 2015 Monthly Update, 2015-16 Elections and
8-10 April Members’ Convention
Dear All,
In this monthly brief, I want to invite all of you once again to our next Members’
Convention on 8-10 April in New Delhi and specially invite nominations for our
2015-16 Executive Council. This memo is structured in three parts: (i) Monthly
Update, (ii) 2015-16 Elections, and (iii) 9-10 April 2015 Members’ Convention
I. MONTHLY UPDATE
Dear Members- over the last month, IIC achieved the following:
¶ Consulted members and submitted feedback on PSL guidelines to RBI
¶ Completed IIC website (www.iiic.in) and is seeking more member inputs on
investee companies
¶ Completed most set-up formalities (Bank A/C, PAN, TAN, except Service Tax
registration which is in process)
¶ Collected INR 44,65,000 (pre-TDS) and INR 41,24,719 (post-TDS) in
membership subscription with commitments of another ~INR 24,75,000 plus
¶ Reviewed IIC performance with the Board on 5 March 2015
¶ Created partnership with Sankalp as a Knowledge Partner
¶ Represented IIC at conferences hosted by World Bank, OneGlobe & Ministry
of Social Development / Skills Development (GoI)
¶ Submitted an OpEd with Vijay Mahajan (BASIX) to be shortly printed
¶ Syndicated a story with Business World to be shortly printed
IIC has following pending and ongoing initiatives: (i) dialogue with a domestic
commerical bank on a roadshow to raise awareness about social impact investing
with high net worth individuals (as prospective LPs) across India to be addressed by
our members; (ii) social impact measurement initiative with Abhijit Banerjee; and,
(iii) wider membership drive. We will gather greater momentum on these as we
achieve our aspiration to add one resource to IIC and get some permanent office
space. I hope to pursue this with our new Board to be elected on 8 April 2015.
II. 2015-16 ELECTIONS
We currently have an interim Executive Council which is exercising its mandate and
calling for an election of a regular Executive Council as decided in the last members
convention on 28 January 2015. All Members (who have paid their 2015 annual fees)
are eligible to nominate themselves for the five (5) elected EC positions and are
eligible to vote. To clarify, Partners (i.e., non-investors) do not have a vote as per IIC
constitution. The voting for the EC will take place by secret ballot on 9 April 2015. I
want to take this opportunity to both clarify past guidelines and clarify a few
guidelines in writing as we elect our new EC.
As you can see in the attached images, all of you had decided the following over the
last two years:
•
•
A 7-member EC with 5 elected and 2 nominated members. We have operated
with the 5 elected members since 21 October 2014 when I came on board
Three Committees as follows, each with 2 elected and 1 nominated member.
o Definitions & Measurement Sub-Committee
o Research & Policy Support Sub-Committee
o Outreach & Membership Sub-Committee
Please find attached a Nomination Form. On reviewing these images, please fill up
the Nomination Form if you are an Investor and if have paid your 2015 fees. Please
send your two nominees directly to me. If you have not paid your fees yet, please do
so urgently. For payment clarifications, please write to [email protected]
Based on the last 6 months experience, the interim EC is proposing the attached
guidelines for Elections of the EC and the three Committees. Since we have recast IIC
objectives and have really operated as one EC during the last six months, we now
need to recast our committees and invigorate them. The new proposed guidelines
address the same. If you have paid your 2015 Annual Subscription Fees, you will
directly receive a EC Nomination Form from me. If you have not done so, please do
so before 31 March 2015 to receive the EC Nomination Form.
Some of you have been waiting for IIC to receive its Service Tax Registration and
raise a formal invoice. I request you all not to wait and just apply a 12.36% Service
Tax and deduct 10% TDS on base fee (Tax Deducation at Source) before remitting the
money. If you want to receive a Proforma Invoice, Ashu Gulati
([email protected]) will help (Aspire provides me pro-bono support). I am
confident that we will receive a Service Tax Registration soon and we will raise a
proper invoice immediately thereon. We’d like all our members to be eligible to
contest elections and vote during our upcoming Member’s Convention.
III. 9-10 APRIL 2015 MEMBERS’ CONVENTION
Dear Members- We will host our upcoming 8-10 April Members’ Convention on the
sidelines of Sankalp 2015. IIC is a Knowledge Partner and will host a session on
Impact Investing at the conference on 10 April. As an IIC member, your special I
Sankalp registration code is (SFIIC2015), along with early-bird discount of 15% is
now valid upto 31 March and includes a pre-event Dinner on 8 April 2015.
We very much hope that you will attend the IIC Convention, elect a new Board and
enjoy Sankalp 2015! Looking forward,
Sincerely,
*
*
*
AGENDA
Wednesday, 8 April
5.30-7.30 pm
IIC Members’ Meeting & EC Elections
7.30-10.00 pm
Global Leadership Dinner hosted by Intellicap & Asha Impact
Thursday, 9 April
2.00-3.00 pm
IIC Members’ Meeting
Friday, 10 April
2.00-3.00 pm
IIC Members’ Meeting
3.00-3.30 pm
Sankalp Plenary Address by IIC Guest*
3.30-4.30 pm
IIC Plenary Panel Discussion at Sankalp
*Tentative
Sankalp Forum ends at 5 pm on 10 April 2015