IITB

Alumni Association
Annual Report
2013 - 14
 IITB
Alumni Association
Annual Report
2013 - 14
Image courtesy Abhey Singh
Cover images courtesy Aditya Banerjee

IIT Bombay Alumni Association,

1st Floor, Gulmohar Building,
Next to Canara Bank, IIT Bombay Campus,
Powai, Mumbai 400076
T 022 2576 7086
 Contents

About IITBAA 1

IIT Bombay Alumni Association 1

Mission 1

Vision 1

Main Objectives of the Organisation 1

Message from the Chairman 2

Message from the Dean ACR 4

Director's report 6

Financial performance - 2013-14 7

Community Engagement 28

Giving back to the alma-mater 33

Plans 2014-15 32

Directors 32

Upcoming Events 34

Our Board of Directors 35

Our Partners 36

Notice for the Thirteenth Annual General Body Meeting 37

Annexure to the Notice 39

Proforma of Postal Ballot 41

IITBAA Team 42

Financial Statements 43
 About IIT Bombay Alumni Association

IIT Bombay Alumni Association

IIT Bombay Alumni Association (IITBAA) is a section 25 company. Established
in 2001, IITBAA creates and maintains a life-long connection between IIT Bom-
bay and its alumni. In collaboration with an extremely dedicated volunteer board
of directors, the Alumni Association works to connect alumni, support students,
and build an unforgettable Institute experience through a diversity of events, pro-
grammes and services. This organisation has worked diligently to serve its alumni
and alma mater, as well as a host of related constituencies. Today with 32 chapters
spread across the globe and close to 40 thousand alumni in its database it has many
firsts and bests to its credit.

Mission
The mission of IITBAA is to foster strong bonds between alumni, students, and
the Institute, to keep alumni informed, and create a network enabling them to re-
main engaged with their alma mater and help shape its future through the Associa-
tion’s programmes and services.

Vision
IITBAA’s vision is to build a strong membership base that is well connected and
which can serve as a springboard for further involvement.

Main Objectives of the Organisation:

1. To promote interaction amongst the Alumni members and between the Alumni
and the Indian Institute of Technology, Bombay (Institute).
2. To encourage, promote and facilitate education and research and other activities
of the Institute.

Image courtesy-Ritesh Saini.jpg (bit.ly/riteshs)

1
Message from the Chairman

Dear Life Members of IITBAA,

Your Association is 13 years old today. My predecessors gave me a top class orga-
nization to steer for 2 years and now, as I make way for worthy successors, I write
this address with mixed feelings. There is a feeling of joy at what we have achieved,
thanks to contributions from countless volunteers. But no matter how good the
going has been so far, there is also a residual feeling that we could have done more.
Today, IITBAA has emerged as the leading alumni organization in India (and
rates highly on the global scale too). Our Board of Directors represent diversity in
terms of region (9 elected Directors are from 8 different cities), age (From C77 to
C04 i.e. spanning 27 years) and gender. When you look at the financials for this
year, you will see how diligently our team has been working to augment our financ-
es allowing us to accelerate our growth. Our surplus has grown by 200% since last
year.
Recent efforts at leveraging the global presence of IITB alumni made us focus on
forming chapters at cities with a sizeable alumni population. We launched five
new chapters in India, in addition to the existing eight and another seven in ROW
(Rest of the World). Thus, 180 alumni (with over 100 being from post C 2000
batches) now constitute ECs ( Executive Committees) in Mumbai, Pune, Banga-
lore, Hyderabad, NCR, Nagpur, Nashik, Gujarat, Indore, Kota, Kolkata, Chennai,
Jaipur, London, UAE, Kuwait, Singapore, Hong Kong, Tokyo and Sydney.
Our landmark initiatives that impact the lives of students (through FAP-Financial
Aid Program), mess-workers (through HATS-Hostel Alumni Team Stewardship),
Faculty (through YFA-Young Faculty Awards), retired Faculty (Through RF-
WF-Retired Faculty Wellness Fund), staff and their families (through Benevolent
Fund) continue to grow and thrive and their collective impact has affected a few
thousand beneficiaries. At the chapter level, our alumni volunteers are impacting
the society through Bangalore Chapter’s VKC (Village Knowledge Centre) and
Hyderabad Chapter’s CDWP (Clean Drinking Water Project).
Number of events and their quality has also been scaled up considerably which
will become apparent when you leaf through the ‘events’ section of this report. But
this year will be specifically remembered for the grand launch of I-ASCEND (IIT
Alumni and SINE Committee or Entrepreneurship & Development), a partner-
ship between IITBAA and SINE to cultivate and enrich the entrepreneurship
ecosystem for our alumni, student and faculty entrepreneurs. Our annual Chapters’
Conclave at Goa which combines brainstorming sessions with business opportuni-
ties has become our star event.

Image courtesy Aditya Banerjee

2
Your national award winning magazine Fundamatics continues to attract the best
writing talent from world class authors, industrialists, economists, policy makers,
scientists etc. It now has a interactive online version available for free at www.
fundamatics.net. Next time you are on the campus, we will be glad to welcome
you to our new air-conditioned environment and take you around in our environ-
ment-friendly energy compliant electric car.
Your Directors are now bracing themselves for the launch of what may turn out
to be our biggest and most ambitious venture viz. Global Alumni Business Forum
which is likely to evolve into a “Davos” of alumni networking.
My tenure as your Chairman has been taxing at times, but largely fun and reward-
ing, thanks mainly to 9 elected Directors, 3 IIT nominated Directors, 5 Executive
Board members, 7 advisers, 9 staff members, past Directors, but above all, our
tireless and countless alumni volunteers who have made us what we are. Special
thanks are also due to our partners viz. IIT Bombay Heritage Foundation (IIT-
BHF), Student Alumni Relation Cell (SARC), PANIIT and the office of Dean
ACR IITB.

Bakul Desai
Chairman IITBAA
On behalf of the Board of Directors.

3
Message from Dean Alumni Corporate Relations(ACR)

Dear Alumni,
Thank you for your continued support to IIT Bombay. Congratulations to teams
in New York, San Francisco Bay Area, Chicago & Santa Clara for organising suc-
cessful reunions and road shows in October. It was a tremendous pleasure for me
and the rest of the IIT Bombay team to meet you at these reunions.
Several important exciting activities have taken place in our Institute during the
past year. A new Center for Urban Science and Engineering (C-USE) was inaugu-
rated by Mr. Prithviraj Chavan, Hon’ble Chief Minister of Maharashtra on Sep-
tember 30, 2013. The Centre would catalyse relevant expertise in various academic
units and carry out research and development with specific focus on the challenges
of mega-cities of the world.
IIT Bombay has been also assigned the responsibility to design and implement the
National Dandi Salt Satyagraha Memorial. As a part of this project, IIT Bombay
had organised two workshops where life-size sculptures of 80 Satyagrahis, who
participated in the famous Dandi March along with Gandhiji, were created on the
campus.
An important activity during the year was peer review of all academic units by
external experts. The peer reviews examined the undergraduate and post-graduate
programmes of the academic units, its research and development, outreach activi-
ties, and contributions to addressing problems of the world. The Institute intends
to carry out external peer reviews every few years.
It was a real pleasure to meet many of you during the Alumni Day function,
PanIIT meet, Chapter meetings, and reunions. The Silver Jubilee reunion of Class
of 1988 was celebrated from December 27th – 29th, 2013. The batch has pledged Rs.
2.0 crores towards their Legacy Project to help attract and retain the best young
faculty to our Institute.
We are also proud to inform you that our Institute recognised 14 outstanding
alumni this year by bestowing them with Distinguished Alumnus Awards and
Young Alumni Achiever Awards. The Institute also recognised six outstanding
alumni by bestowing them with Distinguished Service Awards.

Image courtesy Aditya Banerjee

4
The Institute continues to attract outstanding talent as new faculty members.
Several have joined IIT Bombay in the recent past. The generous contributions
received from our alumni, corporate entities, and other friends of the Institute
helps in making an important difference in our endeavour to pursue global excel-
lence. The contributions towards Institute Development, Infrastructure Develop-
ment, Young Faculty Awards, Chair Professorships, Hostel Development, Student
Development, etc. are examples of utilisation of these funds for the betterment of
the Institute. We invite you to contribute to the Institute’s betterment to the best of
your ability.
Thanks again for your continued support and do come and visit the Campus soon.
Regards
Ravi Sinha
Dean Alumni & Corporate Relations.

5
 Director's Report

“Look not at the days gone by with a forlorn heart. They were simply
the dots. We can now connect with our present, to help us draw the
outline of a beautiful tomorrow.”

Staying true to the meaning of this quote, the past year’s events and happenings
at IIT Bombay Alumni Association, as expressed in this year’s annual report, will
hopefully provide a framework for the future involvement of IIT Bombay’s alumni
community. This annual report not only focuses on the growth and remarkable
achievements of the organisation but also celebrates the alumni who are at the crux
of this organisation.
The alumni of IIT Bombay are a diverse community of high achievers spread over
80 countries and across a wide span of generations. This year we were determined
more than ever in helping alumni interact with each other and their alma mater. As
we attempted to build new bridges and strengthen existing connections between
the alumni and their Institute, we simultaneously sought to expand the scope of
our services through events organised in every corner of the globe: programmes,
business forum initiatives, and community engagement intitiatives.
In 2013-2014, we added approximately 2,225 new life members, which brings our
life members to 14,495 as of 31st March 2014. Our database of about 41,263 alumni,
spread over 80 countries of the globe, is connected through the IITBHF /IIT-
BAA global network that offers a wealth of knowledge, resources, and networking
opportunities including the online alumni directory, networking opportunities,
mailing lists and discussion groups. All things in the world have 2 sides—the good
and the bad—the other side of our coin is that we are yet to find approximately
15,175 alumni who remain in our database without contact details as of 31st March
2014. The search is on...

16000

14495

12000 12270

10157

8000
8136

6295

4854
4000
3800
2500
1860
1186 1514
750
0
Until 2003 Until 2004 Until 2005 Until 2006 Until 2007 Until 2008 Until 2009 Until 2010 Until 2011 Until 2012 Until 2013 Until 2014

Growth of life members

6
 Financial performance – 2013-14

Here is a quick glance at the financial performance of 2013-14.

120.00
105.78

90.00 87.39 87.06

78.24

60.00

30.00
18.72
15.00
9.16
5.00 4.16
3.72
0.00
Total Revenue Total Expenses Surplus Appropriations Profit for
the period

As of 31.03.2014 (in Rs. In lacs) As of 31.03.2013 (in Rs. In lacs)

FY 2013-14-A Broad overview

7
 Our Income (in lacs)
28.27
34.02

1.59
0.1
0.39
0.02 4.5

36.88

28.27
28.27 34.02

34.02
1.59
0.1
0.39
0.02 4.5
Other income Closing stock
36.88

1.59
0.1 Sale of Madhouse book
0.39
0.02 4.5

36.88 Donation/Sponsorship received

2.35

0.92 15.00
Other income Closing stock Year Book income
0.0 Souvenir sale
24.12

Sale of Madhouse book 2.35

Royalty Event Income

0.92 15.00
Donation/Sponsorship received 0.0
59.66
Our Expenses (in lacs) 24.12

2.35

2.35
0.92 15.00
0.0 59.66
24.12

Other income
0.92 15.00 Closing stock Year Book income
0.0
59.66
24.12
Event and admin expenses Employment be

Sale of Madhouse book Royalty

Appropriation Depreciation an

Event and admin expenses Employment benefit expenses Opening

Donation/Sponsorship received Appropriation Depreciation and amortization Donatio

59.66
Event and admin expenses Employment benefit expenses Opening stock

Appropriation Depreciation and amortization Donation paid

8
 Alumni Engagement

Chapter Elections:
2014 was a crucial year for Chapter expansion. The Association added 11 new
(Kolkata, Chennai, UAE, Sydney, Tokyo, Singapore, Hong Kong, Jaipur, Indore,
Kota and London). We now have about 32 chapters in India and rest of the world.
As many as 108 alumni were inducted as Executive Committee members through
simultaneous chapter elections.

9
Alumni across the globe:

Bangkok
6

Southern California Oman Boston

254 9 280

Southern California Kuwait Detroit

254 28 49

Goa Austin Boston

86 79 280

Pittsburgh Atlanta Toronto

92 86 111

Seattle Europe Dallas

254 220 280

Southern California Houston Boston

254 220 280

Chicago San Francisco New York Washington DC

599 1278 1004 296

10
Indian chapters: Mumbai

Spark :
This year the new Executive Committee of the Mumbai Chapter initiated a new
programme named Spark, which gained popularity due to its concept. The idea
was to provide an opportunity for alumni to be inspired by talks from accom-
plished alumni on thematic subject areas—issues that are of significant importance
to society. The first Spark was launched in early August 2013 and focused on the
theme of Entrepreneurship. Successful young entrepreneurs, Zishaan Hayath
(Dual Degree ’05, CivE, H5), Amardeep Singh (Dual Degree, ’08, Aero, H5), and
Abhishek Jain (B.Tech ’02, ChE, H8) shared their own stories to an audience of
over 100. This was followed by Spark-2, held on 28th September, 2013 which was a
resounding success. Spark 3 organised on 30th November, 2013 was equally success-
ful.
Distinguished speakers such as Ajit Ranade, Chief Economist, Aditya Birla Group,
spoke on a variety of subjects, Krishna Ravikumar gave an engaging talk about
education for the poorest of students, while Janak Daffary’s impromptu talk about
the Mithi river and water conservation left the audience enthralled. Vijay Soma-
ni talked about the success that emerged from setting up of an internet platform
where donors and NGO’S can be brought together. Speakers like Deepak Mishra,
Narayan Parsuram, and Derek Monteiro were also invited to inspire the audience
with their stories, to narrate their inspiring experiences with eloquence. Thanks
to the Mumbai Chapter Executive Committee whose hard work and dedication
ensured that Sparks continued to fly even while the Mumbai Chapter was rubbing
flint-stones!

11
12
Varshastuti:
Another flag-ship programme of Mumbai chapter, Varshastuti is an evening of
classical music that follows the IITBAA AGM, to celebrate the onset of mon-
soons. It is attended by a mix of alumni, faculty, campus residents, and students
every August. We have had many eminent personalities from the world of music
perform at Varshastuti including Vidushi Veena Sahasrabuddhe, Vidushi Smt.
Vasundhara Komkali, Ustad Ghulam Husnain Khan, Prof. Shruti Sadolikar Kat-
kar, Pandit Nayan Ghosh, Ustad Aslam Khan, and Pandit Arun Dravid etc.
Last year the event took place on August 31st, 2013 and was a grand success. Rajen-
dra Gadgil’s sitar virtuosity had the audience mesmerised and the audience kept
pace with Vaibhav Kadam’s tabla beats.
Pune:

Y Point Orchestra:
IIT Bombay’s first alumni band from Pune Chapter called ‘Y Point’ Orchestra was
launched on campus at the Student Alumni Meet 3.0 in the month of October
2013. Y-Point Orchestra (YPO) followed this up with their first performance in
Pune on January 12, 2014. Nearly 250 people attended the event, grooving to old
Hindi film numbers from the sixties, seventies, and eighties.

Gujarat:

Annual meet:
The Gujarat Chapter followed suit with their annual meet that was organised early
this year at Ahmedabad in the presence of Prof Yajnik, Dean Student Affairs, IIT
Bombay. There were a total of 44 attendees (including 15 spouses and one parent).
Prof. Yajnik gave a presentation on the current developments at IITB and this
drew considerable interest from many who may not have been in touch with the
Institute in recent times.

13
International Chapters:

New York:

GNY Point Annual Reunion

There were a series of international chapter activities that made an impact during
the past year, the most memorable being the GNY Point Annual Reunion on 26th
October, 2013 by the Greater New York Chapter at the Cooper Union Auditorium
in New York City. This event was attended by over 100 alumni and their guests. In
attendance were Dr. Devang Khakhar, Director of IITB and Dr. Jamshed Bha-
rucha, President of The Cooper Union for the Advancement of Science and Art
(CU). The highlight of the IITB-Cooper Union meet was the signing of a mem-
orandum of understanding for a Student Exchange programme between the two
institutions. Ruyintan (Ron) Mehta, IITB 1970, has generously donated the funds
to get the programme launched.

Greater NY Chapter (IIT-GNY) Energy Finance Networking Event

Another event that happened in New York was the Energy Finance Networking
Event at the Bombay Palace in NYC, on 20th February, 2014. About 50 IITians
attended the event.

Detroit: IIT-Mixer
The Detroit Chapter alumni get together periodically at an event called IIT Mixer,
where conversation ranges from the Michigan winter, to beetroot halwa, mess and
tuition bills to engineering technology ventures.

Texas: Pan-IIT Global Conference

One of the major global chapter events held last year was the 2013 Pan-IIT Global
Conference at Houston, Texas from Dec 6-8th, 2013. The Pan-IIT Global Confer-
ence is held bi-annually in different cities in the United States of America. The aim
is to bring together the best and the brightest graduates from across all IITs, many
of whom have been responsible for advances and innovation in engineering, science
and technology in the U.S. and other countries. The theme was Inspiring Innova-
tion for Tomorrow. There were over 1600 attendees with more than 90 speakers
who shared their wisdom over these two days.

14
Kuwait:

PAN IIT-IIM Alumni meet

At Kuwait, IITBAA had a PAN IIT-IIM Alumni meet on 14th September, 2013.
Mainly attended by IITB & IIMC alumni the event was a decent success consider-
ing the short span of time within which the event was executed.

15
16
Annual Chapters’ Conclave:
“Kudos to the organisation of the Goa Conclave, It was such a delight to meet / interact
with the Young and the Old, the Beautiful and the Bold. This delight was enhanced
tremendously by Mr Manohar Parriker, CM of Goa”
ABS Kumar, B.Tech. '74 ME, Bangalore Chapter

The Chapters’ Conclave held during 19t–- 21 July, 2013 at International Center in
Goa saw discussion on the launch of a Global IIT Bombay Alumni Business Fo-
rum. Interactive sessions were held between Society for Innovation and Entrepre-
neurship (SINE), IIT Bombay, and alumni innovators and entrepreneurs interest-
ed in incubation at this premier center of business incubation in the country.
There was a mini-summit on the Future of Learning in India to produce both
Skills and Education, a precursor to the Global IIT Bombay Alumni Business Fo-
rum. This was followed by one-on-one interactions with the Hon. Chief Minister
of Goa, Shri Manohar Parrikar. Business proposals from alumni of IIT Bombay
were presented to him.
The formal meeting amongst chapter honchos were held along with some re-
nowned names like Dileep Ranjekar (CEO, Azim Premji Foundation), Dilip Che-
noy (Managing Director, CEO of the National Skill Development Corporation),
Revathi Kasturi, (CEO, LAQSH Job Skills Academy, Vivek Sawant (Founder,
Managing Director of Maharashtra Knowledge Corporation Limited – MKCL),
Dr. Anil Sahasrabudhe (Director, College of Engineering, Pune), Prof. Kannan M.
Moudgalya (Professor of Chemical Engineering, Systems and Control, and Educa-
tion Technology at IIT Bombay), and Padmashri, Prof. Deepak Phatak (Subrao M
Nilekani Chair Professor, Department of CSE, IIT Bombay).
The Annual Chapters’ Conclave was used as an opportunity to celebrate the suc-
cess party of Fundamatics for winning the coveted ICE awards.

17
Events:
Whether it has been 10 years or 50, the IIT Bombay family waits to welcome their
alumni home. IITBAA facilitates all such reunions on campus and this year the
Silver Jubilee Class of 1988, the Golden Jubilee classes of 1963 and 64 ( There were
two convocations in 1963 one in August and the second in December due to the
Chinese war) all returned to IITB for a weekend of reconnecting and reminiscing.
“Thanks for the fantastic organisation and enthusiasm. Certainly went beyond the call
of duty to make it a special occasion for us”
Shiv Moulee, (B.Tech ’88, CSE,H8)

“What I realised is that there was an instant reconnection with folks, not broken by the
passage of 25 years!”
Kunal Banerjee, (B.Tech ’88,ChE, H4)

“We had a wonderful time! Pulling through 3 reunions and alumni day together can
only be managed by super humans. Everything was planned to perfection, and executed
wonderfully.”
Siddharth Verma, (Dual Degree ’04, EE, H3)

“Thanks to everyone for the wonderful time. It was great outing”

Saurav Panda, (B.Tech ’03, EE, H7)

“Thanks for giving us an opportunity to showcase IITB Innovate to the larger alumni group. The
response I received yesterday was quite encouraging, and with involvement of a larger group, we will
surely be able to create a big impact.”
Abhishek Jain (B.Tech ’02, ChE, H8)

18
 Reunions

'Feeling young' is a feeling, which everyone likes.

Silver Jubilee Reunion (Class of 1988):

The class of 1988, which graduated 25 years ago from the Institute, celebrated their
Silver Jubilee Reunion in the last week of December 2014 and felt young again.
To kick start their reunion year, the batch had a mini reunion on 1st June, 2013 to
launch the reunion registration webpage on iitbombay.org. The batch came back to
the campus, met each other for a great party, played tennis to re-live their campus
moments, shared their campus experiences, lived on the campus for those 3 days
with their batch mates and pledged Rs. 2 crores for their legacy project.

Golden Jubilee Reunion (Class of 1963):

The Class of 1963 celebrated their Golden Jubilee Reunion from 25th – 29th
November, 2013. A far cry from the motley bunch of teenagers who joined the
Institute in 1959, sixteen alumni with their spouses, spent two evenings amidst the
serene atmosphere of the campus, in the settings of 5-star banquets, laughing and
chatting at low decibel levels. The other two days were spent at a resort, 150 kms
from IIT Bombay.

19
20
Golden Jubilee Reunion: (Class of 1964)
The Golden Jubilee Reunion for the Class of ’64 was a three-day event that took
place from Jan 15th – 17th, 2014. The batch was fortunate to have the company of
Padma Vibhushan Dr. Anil Kakodkar, Chairman of IIT Bombay Board of Gov-
ernors gracing this occasion, which had a formal function. The event was attended
by Director Prof. Khakkar, Prof. Pandalai, Deputy Director, and Prof. Ravi Sinha,
Dean Alumni & Corporate Relations.

Decennial Reunion (Class of 2003)

Ten years ago, when the class of 2003 left the campus, little did they know that
they would meet again 10 years later for their Decennial reunion. Well! This is
what happened on 29th December 2013. One day of their lives, not enough to catch
up, not enough to listen to the hits and misses of their lives. Fifty eight alumni met
each other along with their little ones and spouses.
The four batches went home humming a famous number from Beatles “Turn off
your mind, relax, and float downstream.... It is not dying.......Tomorrow never knows”

21
Fresher’s Welcome Meets:

Mumbai:
“Oye Freshie” was organised by Mumbai Chapter in October 2013 to welcome the
new graduates at The Beatle, Hiranandani, Powai. A panel discussion was held
along with the dinner.

Bangalore:
Similarly, Bangalore Chapter introduced the Freshers to the senior alumni. Thirty
new graduates made it to the venue to meet up 20 seniors and also to get to know
the new place they had relocated to.

New Delhi:
NCR chapter left no stones unturned either. Fresher’s Welcome Meet, which was
combined with an art exhibition and a musical evening was organised by NCR
Chapter at India Habitat Center, New Delhi. The Meet saw a crowd of about 250
alumni with their spouses and children.

UAE:
The UAE Chapter had invited new entrants to Dubai and fresh graduates of IIT
Bombay. They met at a garden amidst the desert to know each other.

22
23
Annual Alumni Day and HATS Reunion:
The Annual Alumni Day and HATS reunion that happened last year on 29th
December, 2013 saw the home-coming of about 500 alumni. A multi-track event,
it has continued to improve in terms of its spread and quality. The event started off
with a pre-lunch session that had a Karadi Tale rendition for kids and a pottery
workshop for all while the post lunch session broke up into hostel visits, depart-
ment visits, movie screenings, and much more.
Distinguished Alumnus Ashank Desai presented cheques to mess workers in H2
under the aegis of the HATS program. Distinguished Service Awards were given
away to Mr. Ruyintan Mehta (B.Tech’70 ChE), Mr. Sameer Katdare (B.Tech.’75
ChE), Mr. Dhananjay Saheba (B.Tech.’77 EE), Dr. Amol Gokhale (B.Tech.’78
MtE), Mr. Paresh Vora (B.Tech.’81 EE) and Mr. Ajay Bhagwat (B.Tech.’85 EE).

24
 Kiran Shesh from C88-Silver Jubilee Reunion batch presented a ceremonial cheque
of Rs. 2 crores on behalf of his batch towards his batch’s legacy project that aims
to support popular ongoing initiatives viz. Young Faculty Awards (YFA), Retired
Faculty Wellness Fund (RFWF), and Financial Aid Program (FAP).
IITBAA Director Hemant Patel made a brief presentation about the new initiative
Make-Hostel-My-Home (MHMH) which aims to empower students to improve
the standards of cleanliness and maintenance in hostels.

Distinguished Alumnus Awardees

Dr. Ing. Anil Anwikar Dr. Kasim A. Mookhtiar Dr. Rajesh S. Gokhale Mr. Ashish Kumar Chauhan
B. Tech. 1963 Civil Engg M.Sc, 1980, Chemistry.jpeg M.Sc. 1990 Bio Technology B.Tech 1989, Mechanical Engg.jpg

Dr Shyam Dighe
B.Tech ‘74, ChE.
Mr.Deepak Vaidya
B.Tech ‘70 ,ChE
Mr Toos Daruvalla
B.Tech ‘77, EE.

Mr. Ram V. Kelkar Mr. Suresh V. Shenoy Shri. V.P. Baligar

B. Tech 1980 Electrical Engg B. Tech, 1972, Chemical Engg B. Tech. 1978 Civil Engg

25
Distinguished Service Awardees

Dr Amol Gokhale Mr Ajay Bhagwat Mr Dhananjay Saheba Mr Paresh Vora

B.Tech.78 MetEMatSc B.Tech.85 Electrical Engg B.Tech.77 Electrical Engg B.Tech.81 Electrical Engg

Mr Ruyintan Mehta Mr Sameer Katdare

B.Tech.70 Chemical Engg B.Tech.75 Chemical Engg

Young Alumni Achiever Awardees

Dr Rohit N Karnik Dr. Mayank Bawa Dr. Sundar Iyer Mr. Bhavish Aggarwal
B Tech 2002 Mechanical Engg B. Tech. 1999 Computer Sci- B. Tech. 1998 Computer Sci- B. Tech., 2008, Computer
ence& Engg ence and Engg Science and Engg

26
 I-ASCEND
On the occasion of its tenth anniversary celebration, SINE the technology business
incubator at IIT Bombay together with IITBAA launched I-ASCEND – a joint
flagship entrepreneurship forum on 19th April, 2014. As part of Global Alumni
Business Forum, this initiative strengthens the entrepreneurship efforts by SINE,
ECELL, and IITB. It aims at building strong alumni linkages using the IITBAA/
IITBHF network and bringing support from alumni to the IITB entrepreneur
communities.
The launch event was an effort to bring together all the stakeholders to deliberate
on how the major partners in this – the students, faculty and alumni – can create
a strong ecosystem for the entrepreneurial community. The event was made up
of a series of experience sharing sessions among entrepreneurs that saw animat-
ed conversations and exchanges with the audience. There was a great presence of
investors, mentors, faculty, academics and industry representatives.
Reid Hoffman, LinkedIn Co-Founder once said “No matter how brilliant your mind
or strategy, if you're playing a solo game, you'll always lose out to the team.”

“It was a very successful event . Wearing my SINE hat, I feel this is a great beginning for IITB Alum-
ni contributing to help SINE reach still greater heights of success”
Ashank Desai (M.Tech. ’74, ME,H1)

27
Community Engagements

Clean Drinking Water Project - Hyderabad Chapter:

It is a well-known fact that in many parts of rural India, people do not have clean
drinking water. To pick just a part of India, rural areas around Hyderabad and
in the state of Andhra Pradesh are suffering due to bad quality of water, both
underground and surface, due to high fluoride content,high dissolved solids, and
bacterial contamination. In order to mitigate the drinking water problems for
these areas, IITBAA Hyderabad chapter took up a project to set up clean drinking
water plants. With generous donations coming from alumni all over the world who
understand the need and the importance of this project, two plants have been in-
augurated and are functional in Haveli Ganpur village and Nandi Kandi village of
Medak district in Andhra Pradesh. A third plant will be ready for commissioning
soon. Drinking water will be supplied free of cost to schools and hospitals while
the villagers get it at a cost of Rs. 2/20 litres.

28
 Village Knowledge Center (VKC) – Bangalore Chapter:
Earlier in a public address, our revered ex-President Dr. Abdul Kalam expressed a
vision that every IITian should adopt one village in the country. It is keeping this
larger vision in mind that Bangalore chapter made a small beginning in Ittamadu, a
village 50 kms from Bangalore in 2005 with the Village Knowledge Centre project.
The VKC project is in the 9th year. This ambitious vision of all the villages in the
country being connected via technology gained steam with neighboring villages.
VKC acts as a nodal centre for knowledge connectivity. This includes computer
literacy and internet aided education for children as well as adults and providing
information such as new ways of farming, employment opportunities, prices of
agricultural commodities, etc., as well as facilities such as internet banking and
railway bookings. Currently, rural population in and around 10 villages in Ittamadu
village is being benefited. Five VKCs have already been rolled out. The latest one
was at O. Mittur village in Kolar District.

Fundamatics
Q 2 01
Fundamatics is the quarterly alumni magazine of IITBAA. It is an effort to
4
2

bring IITB alumni closer by putting into print their thoughts, stories, interviews,
nostalgia about the IITB days, etc. The content is the contribution of alumni who
have spread to various parts of the world and have become icons and gurus in their
respective fields. Having already established itself as a platform to voice alumni
opinion, Fundamatics is now also becoming a means of promoting organisations,
products and services through advertisements making it a publication that is not
only read by IITB alumni but by all who are interested in using advertising ser-
vices. Fundamatics is the winner of not two but three prestigious ICE (In House
Communication Excellence) Awards. The magazine was put up against a number
of in-house publications from educational institutions and corporate houses and
has bagged the Best Overall Magazine (Gold) award. Now that the magazine has
set a bench-mark of its own, alumni are keen on setting up a corpus for Fundamat-
ics. Way to go!
Newsletter
IIT Bombay Alumni Association has an online newsletter published every month.
It keeps the IITians and alumni abreast of the happenings at the alma mater in
terms of new initiatives taken to improve the campus and the curriculum, chapter
news, events and reunions, announcement of alumni who have excelled in their
chosen field, awards won televised interviews, etc. In a nutshell whatever has made
big news and requires a mention will find a place in the newsletter.

29
30
Giving back to the alma-mater:
“First of all I would like to acknowledge the receipt of ‘Young Faculty
Award’. I would like to express my sincere thanks to Alumni Associa-
tion IIT Bombay for this gesture.”
An Assistant Professor
Centre for Urban Science & Engineering (C-USE)
IIT Bombay

31
Plans - 2014-15:
Following are the goals for the next year and near future:
• Increase life membership figures to another 10, 000+.
• Decrease the number of lost souls by finding them through various sources.
• Strengthen existing programs and initiatives and start new ones too.
• Sustain IASCEND initiative and spread it in various chapters throughout the
world.
• Pursue Give One so that it generates Rs. 1 crore +.
• Fresher’s welcome meet to be spread amongst all the chapters.
• Launch Global Alumni Business Forum.
• Increase Alumni Day attendance.
• Increase the number of formal chapters
• Increase attendance for Chapters’ Conclave.
• Capacity building, create environment of excellence which will lead to asset
creation for future alumni.

Directors
During the year, the Board of Directors had regular meetings and discussed
various aspects of making IITBAA a vibrant organisation. At the Annual Gen-
eral Meeting held on 31st August, 2013, members elected Bakul Desai, Abhishek
Mangalick, and Parul Gupta as Directors for a 3-year term. The Board also elected
Avinash Sankholkar, Kiran Shesh, and Abhishek Thakkar as Executive Board
members. In accordance with the provisions of Section 25 of the Companies Act,
1956, three Directors Shridhar Shukla, Hemant Patel, and Deepak Patil retire
by rotation. These directors have rendered their services to the fullest and their
commitment and dedication to the alumni cause is an example to all. The Board
would also like to put on record its appreciation for the efforts of retiring student
nominee Director Tejas Kolhe for all his able support and assistance.

Directors’ Responsibility Statement:

As required Section 217 of the Companies Act, the Directors hereby confirm that:
• In the preparation of the annual accounts, the applicable accounting standards
have been followed along with proper explanation relating to material depar-
tures;
• The Directors had selected such accounting policies and applied them consis-

32
Image courtesy Ritesh Saini

tently and made judgments and estimates that are reasonable and prudent so as
to give a true and fair view of the state of affairs
• The Director had taken proper and sufficient care in the maintenance of ad-
equate accounting records in accordance with provisions of this Act for safe-
guarding assets of the Company and for preventing and detecting fraud and
other irregularities.
• The Directors had prepared the annual accounts on a going concern basis.
Auditors
Pursuant to the provisions of section 224A and other applicable provisions of the
Companies Act, 1956, M/s. D.S.K and Associates, Chartered Accountants retire
at the ensuing Annual General Meeting. Conservation of Energy, Technology
Absorption, Foreign Exchange Earning and Outgo. The particulars required under
the Companies (Disclosure of Particulars in the Report of Board of Directors)
Rules 1988 regarding conservation of energy and technology absorption, are not ap-
plicable. The Company does not have any expenditure in foreign exchange. Howev-
er a sum of Rs.751859.51 was received in foreign currency towards Life Membership
from the rest of the world.

Personnel
The Company did not have any employee of the category mentioned in Section
217(a) of the Companies Act, 1956.

Bakul Desai
Chairman, IITBAA
On Behalf of Directors
30 July, 2014

33
Upcoming Events:
Date Event Venue
August 9, 2014 52nd Convocation, IIT Bombay IIT Bombay campus
August 14, 2014

Commencement of elections (Polling) of IIT- Online

BAA Board Directors
August 22, 2014 End of polling of IITBAA Board Directors and Online
announcement of results
August 30, 2014 Varshastuti and Annual General Body Meeting Varshastuti at IDC Auditorium, IIT Bombay
of IIT Bombay Alumni Association campus and AGM at one of the classrooms of
IDC, IIT Bombay campus, Powai

September 19 - 21 IITBAA Annual Chapters’ Conclave Goa

August, September, Octo- Fresher's Welcome Meet in various IITBAA Various Chapters
ber 2014 Chapters
October 4, 2014 Student Alumni Sports Meet IIT Bombay campus
October 26 -28, 2014 40th reunion C’74 Registration at IIT Bombay campus
December 26-28, 2014 Silver Jubilee Reunion of C’89 IIT Bombay campus
December 28, 2014 Alumni Day 2014 IIT Bombay campus
January 16-18, 2015 45th Reunion, C’69 Registration at IIT Bombay campus
February 13-16, 2015 Golden Jubilee Reunion of C’65 Registration at IIT Bombay campus

34
Our Board of Directors
Bakul Desai, Chairman
Deepak Patil, Co-Chairman
Sandip Tarkas, Treasurer
Paresh Vora, Co-Treasurer
Shridhar Shukla
Hemant Patel
Abhishek Mangalick
Rahul Chaubey
Prof. Ravi Sinha (Dean Alumni & Corporate Relations, IITB), Nominee Director
Prof. Urjit Yajnik (Dean Student Affairs, IITB), Nominee Director
Vishwas Goel (Alumni Secretary, IITB), Nominee Director
Shailesh Gandhi , Advisory Board Member
Sharad Saraf (Adviser), Advisory Board Member
Prof. Ali Contractor (Adviser), Advisory Board Member
Kirat Patel (Adviser), Advisory Board Member
Dipak Sheth (Adviser), Advisory Board Member
Ram Kelkar (Adviser), Advisory Board Member
Ajit Ranade (Adviser),Advisory Board Member
Vinay Karle, Executive Board Member
Nitin Kumar Singh (Co-opted Member), Executive Board Member
Avinash Sankholkar (Co-opted member), Executive Board Member
Abhishek Thakkar (Co-opted member), Executive Board Member
Kiran Shesh (Co-opted Member), Executive Board Member

35
Registered Office:
Indian Institute of Technology, Office of Dean Alumni & Corporate Relations, 1st
Floor, Main Building, Powai, Mumbai-400076

Bankers
ICICI Bank Ltd, Canara Bank, HDFC Bank Ltd

Auditors
D.S.K & Associates, 19, Andheri Universal Industrial Premises Society Ltd, 57 J.P
Road, Andheri (W),Mumbai – 400 058

Our Partners
IITBHF: IIT Bombay Heritage Foundation is a U.S Fiduciary, the first of its kind
in the U.S approved by the IRS where the American tax payer got a credit for
donating to a foreign institute. Established in 1996 and managed by a committed
body of volunteer alumni, it runs as a non-profit organisation to assist the Indian
Institute of Technology, Bombay community, the students, faculty, employees, and
alumni. The Fund, together with the IIT Bombay Alumni Association, is dedicat-
ed towards strengthening the links between IIT Bombay and its alumni across the
world.
SARC: Student Alumni Relations Cell is a voluntary student association that
helps build relations between alumni and the student community within IIT Bom-
bay. Started as a Golden Jubilee initiative, SARC is active all around the year and
has a crucial role to play along with IITB-AA and IITB-HF in the vibrant alumni
scene of IIT Bombay.
To know more about SARC and its initiatives, please visit www.sarc-iitb.org.

36
Notice for the Thirteenth Annual General Body Meeting
The Thirteenth Annual General Body Meeting of the members of IIT Bombay
Alumni Association will be held in a class room on the ground floor of Main
Building, IIT Bombay campus, Powai, Mumbai, at 4:00 p.m. on Saturday the 30th
August, 2014 to transact the following business:
1. To read and confirm the minutes of the last AGM.
2. To receive, consider, and adopt the Income and Expenditure Account for the
year ended 31st March, 2014, Balance Sheet as at 31st March, 2014 and Auditors
matter together with the reports of the Directors and Auditors thereon.
3. To appoint auditors to hold office from the conclusion of this Annual General
Meeting until the conclusion of the next Annual General Meeting and to fix
their remuneration.
4. To appoint Directors in place of Shridhar Shukla, Hemant Patel, and Deepak
Patil who retire by rotation.
5. Notice is hereby given that it is proposed to alter the Articles of Association of
IIT Bombay Alumni Association by passing a special resolution as follows. To
consider and if thought fit, with or without modification to pass the following
resolutions:
“Resolved that subject to the approval of the Members and the Regional Direc-
tor/ Registrar of Companies, Mumbai, the Articles of Association of the Company
be amended by replacing the existing Clauses 6.1 and 8.4 (ii) with the following
clauses
Clause 6.1 Every Life Member shall have only one vote
Clause 8.4 (ii) No member shall continue without re-election beyond a period of
three years as an elected member.”
Notes:-
1. The Explanatory statement pursuant to section 102 of the Companies Act 2013
with regard to the special resolution mentioned above is enclosed.
2. Member entitled to attend and vote at the meeting is entitled to appoint a proxy
to attend and vote instead of himself/herself and the proxy need not be a mem-
ber of the company.

37
Explanatory Statement Pursuant to Section 102 of the
Companies Act, 2013
Item No-1
The current clause 6.1 of the Articles of Association reads as “Every member
(whether Life, Honorary or Guest) shall have one vote”
The Board after due consideration have decided that only Life members shall have
one vote i.e. other members (Honorary and Guest) shall not be entitled to vote.

Item No-2
Currently the provision of Article 8.4 (ii) states “One third of the elected members
shall offer themselves for reelection every year and no member shall continue with-
out re-election beyond a period of three years as an elected member.”
Since the director appointed in the case of a casual vacancy holds office only up
to the next AGM under the current provision, it creates a problem in the number
of retiring directors every year. Hence, even when there are just 2 vacancies, the
Company has to force one of the elected directors to resign to comply with pro-
vision of retirement of one third of the Directors. To address such a situation the
Board has decided to delete the part of clause which states that one third of the
elected members shall offer themselves for reelection every year. The second part
of the clause which states that no member shall continue beyond a period of three
years as an elected member automatically takes care of the retirement of the elected
members by rotation.
The Members are requested to approve the alteration to the Articles of Association
of the Company.
None of the Directors are interested in the aforesaid resolution.
6. Any other item/s with the permission of the Chairman.
The AGM will be followed by tea/refreshments at 5 PM.
Varshastuti will commence from 5:30 PM onwards at IDC Auditorium. This year
we will have Gauri Pathare who will be performing Hindustani vocal concert.

For iit bombay alumni association

Bakul Desai
Chairman, IITBAA

38
Annexure to the Notice:

Item No.2
Any member who wants more information or clarification on the financial state-
ments should write to iitbaa@iitbombay.org at least 7 days before the AGM.

Item No.3
Pursuant to the provisions of section 224A and other provisions of the Companies
Act, 1956, M/s DSK & Associates, Chartered Accountants, be re-appointed as
auditors at the AGM.

Item No.4
As per the Articles of the Association, Shridhar Shukla, Hemant Patel and Deep-
ak Patil will retire by rotation. Election process was announced on 21 July 2014 to
fill up the vacancies as under:
Elections would be held for 3 posts of Directorship on the IIT Bombay Alumni
Association’s Board. Nominations are invited from all members.
1. Any Life member (for at least 2 years) of the Association can contest the election
as per rules.
2. Each nomination shall be filed as per the proforma given and shall be proposed
and seconded by life members of IITB-AA.
3. Nomination papers should be submitted to IIT Bombay Alumni Association,
1st Floor, Gulmohar, IIT Bombay, Powai, Mumbai – 400076, during working
hours. Nominations can also sent by e-mail to electionofficer@iitbombay.org.
4. Voting will be conducted through internet by logging onto www.iitbombay.
elections.org or by postal ballot.
5. Alumni, who are not life members, can enroll as life members only up till 24
hours before the voting portal closes i.e. before 11 am August 21st, 2014.
7. The candidate should submit bios as per the prescribed format to electionoffi-
cer@iitbombay.org on or before the last day of filing nominations that is August
4th, 2014.

39
Important Dates for the IITBAA BoD Elections 2014

1. Last date for filing nominations. 4th Aug 2014

2. Last date for withdrawal of nominations. 6th Aug 2014
3. Announcement of final valid names to life members by election 7th Aug 2014
officer.
4. Voting commences on www.iitbombayelections.org. 14th Aug 2014
5. Polling ends on www.iitbombayelections.org and results to be 22nd Aug 2014
announced

Details of the election and list of candidates will be displayed on www.iitbombay.

org

Prof. Ravi Sinha

Dean ACR
Returning Officer

40
 Proforma of Postal Ballot

The Returning Officer

IIT Bombay Alumni Association
1st Floor, Gulmohar Building,
IIT Bombay,
Powai, Mumbai 400076
Dear Sir,
Sub: Election of Directors on IITBAA Board
In accordance with your notice to all life members, I, __________________, as a
life member of IITBAA, submit herewith the Ballot Paper in a separate and sealed
envelope.

Yours faithfully,
Signature: _________________________________
Name: ____________________________________
Address: _____________________________________________________
____________________________________________________________
____________________________________________________________
Dated: ___________

Ballot Paper
For election of three posts of Directors on IITBAA Board for 2014
Sr.No Name of the candidate voted for

Note:
1. The Ballot Paper should reach IITBAA office by 22nd August, 2014, 11:00 AM
IST.
2. The Ballot Paper shall be opened by the Returning Officer in the presence of a
scrutiniser.

IIT Bombay Alumni Association,

1st Floor, Gulmohar Building,
Next to Canara Bank, IIT Bombay Campus,
Powai, Mumbai 40076
Tel. NO.: 022-2576 708

41
IITBAA Team

42
 Financial Statements

D.S.K & ASSOCIATES

19, Andheri Universal Industrial Premises, 57, J P Road, Andheri (W), Mumbai 400058
Tel: 26707455 / 26707188 Fax: 26289672 email admin@dsknassociates.com

AUDITORS REPORT TO THE MEMBERS OF IIT BOMBAY ALUMNI ASSOCIATION

Auditors Report To The Members of IIT Bombay Alumni Association
We have audited the attached Balance Sheet of IIT BOMBAY ALUMNI ASSOCIATION, as at
We have
Marchaudited the attached
31, 2014. Balance Sheet
These financial of IIT Bombay
statements Alumni Association,
are the responsibility as at March
of the company’s 31, 2014. These
management.
financial
Our responsibility is to express an opinion on these financial statements based on our audit. an opin-
statements are the responsibility of the company’ s management. Our responsibility is to express
ion on these financial statements based on our audit.
We conducted our audit in accordance with auditing standards generally accepted in India. Those
We conducted
Standardsour audit in
require accordance
that we planwithandauditing
performstandards
the auditgenerally accepted
to obtain in India.assurance
reasonable Those Standards
about
require that wethe
whether plan and perform
financial the audit
statements aretofree
obtain reasonable
of material assurance about
misstatement. An whether the financial
audit includes statements
examining,
on of
are free a test basis,
material evidence supporting
misstatement. the amounts
An audit includes and disclosures
examining, in the
on a test basis, financial
evidence statements.
supporting An
the amounts
audit also in
and disclosures includes assessing
the financial the accounting
statements. principles
An audit also includesused and the
assessing significant estimates
accounting made
principles used by
and
management, as well as evaluating the overall financial statement presentation. We believe
significant estimates made by management, as well as evaluating the overall financial statement presentation. We that
our audit provides a reasonable basis for our opinion.
believe that our audit provides a reasonable basis for our opinion.
1. We have
1. We have obtained obtained
all the all the
information andinformation
explanationsand explanations
which to the best which to the bestand
of our knowledge of belief
our were
knowledge and belief were
necessary for the purposes of our audit. necessary for the purposes of our audit.

2. In our opinion, the opinion,

2. In our Companythe hasCompany
kept proper
hasbooks
kept of account
proper as required
books by the
of account aslaw so far as
required byappears
the from
law so
our examination far books
of the as appears
of the from our examination of the books of the Company.
Company.
3. The Balance SheetBalance
3. The dealt with by this
Sheet report
dealt withis in
byagreement with
this report theagreement
is in books of with
account.
the books of
account.
4. In our opinion, the Balance Sheet complies with the Accounting Standards referred to in sub-section (3C) of
Section 211
4.ofInthe Companies
our opinion, Act,
the 1956.
Balance Sheet complies with the Accounting Standards
referred
5. On the basis of to in sub-section
information (3C) given
and explanations of Section
to us, 211 of thethat
we report Companies Act,is 1956.
no Director disqualified from being
appointed as Director of the Company under clause (g) of sub section (1) of Section 274 of the Companies Act,
5. On the basis of information and explanations given to us, we report that no
1956. Director is disqualified from being appointed as Director of the Company under
6. In our opinionclause
and to(g)
theofbest
subofsection (1) of Section
our information 274 of the
and according to Companies Act, given
the explanations 1956.to us, the said ac-
counts, give the information required by the Companies Act, 1956 in the manner so required and give a true and
6. In our opinion and to the best of our information and according to the
fair view :- explanations given to us, the said accounts, give the information required by the
a. In the case ofCompanies
the Balance Act,
Sheet1956 in state
of the the manner so required
of the affairs and give as
of the Company a true and fair
at March viewand
31, 2014 :-

b. In the case of the

a) Profit
In the&case
Loss account of the Profit
of the Balance Sheet of of
thethe
Company
state offor
thethe year ended
affairs of the on 31-03-2014.
Company
as at March 31, 2014 and
For D.S.K. & Associates
b) In the case of the Profit & Loss account of the Profit of the Company for the
Chartered Accountants
year ended on 31-03-2014.
FRN : 117710W

For D.S.K. & Associates

(PratulChartered
Dube) Accountants
FRN : 117710W
Partner
M.No.(Pratul
36288 Dube)
Partner
Mumbai :
M.No. 36288
Dated:Mumbai
28th June,: th2014
Dated: 28 June, 2014

43
Balance Sheet as at 31st March, 2014

Sr. Particulars Note 31.03.2014 31.03.2013

1. Equity and Liabilities
(1) Shareholder's Funds
a. Funds 3 9,621,896 7,885,619
b. Reserves and Surplus 4 28,918,159 23,383,357

(2) Non-Current Liabilities

a. Long-term borrowings - -
b. Other Long term liabilities - -
c. Long term provisions - -

(3) Current Liabilities

(a) Advances received 5 5,604,084 5,742,809
(b) Trade payables 6 81,705 152,601
(c) Other current liabilities 7 509,122 354,780
(d) Short-term provisions - -
Prepaid Income -
Total 44,734,966 37,519,167
2. Assets
(1) Non-current assets
(a) Fixed assets
(i) Tangible assets 8 1,253,635 318,496
(ii) Intangible assets 13,745 22,909
(iii) Capital work-in-progress - -
(b) Non-current investments - -
(c) Deferred tax assets (net) - -
(d) Long term loans and advances - -
(e) Other non-current assets - -
(2) Current assets
(a) Current investments - -
(b) Inventories 159,218 234,778
(c) Trade receivables 9 2,675,026 739,014
(d) Cash and cash equivalents 10 40,093,551 34,774,892
(e) Other current assets 11 539,791 796,821
total 44,734,966 36,886,910

Summary of significant accounting policies

The accompanying notes are an integral part of the financial statements.
As per our report of even date attached.
For DSK & Associates For IIT Bombay Alumni Association
Chartered Accountants

CA. Pratul Dube (Partner) Bakul Desai (Chairman) Sandip Tarkas

Membership No. : 036288 Place : Mumbai (Treasurer)
FRN: 117710W Date : 28/06/2014
Place : Mumbai
Date : 28/06/2014

44
 Profit and Loss for the year ended 31st March , 2014

Sr. Particulars Note 31.03.2014 31.03.2013

i. Revenue from operations 12 7,750,270 6,375,914
ii. Other Income 13 2,827,387 2,363,409
iii. Total Revenue (I +II) 10,577,657 8,739,322
iii. Expenses:
Opening Stock of Souvenir Articles 234,778 273,269
Operational Expenses 14 5,208,328 4,507,758
Employee benefit expense 15 2,412,482 2,150,764
Depreciation and amortization expenses 8 91,945 86,424
Other expenses 16 758,377 800,583
Donation paid - 5,000
Total Expenses 8,705,910 7,823,798
iv. Profit / (Loss) before exceptional and extraordinary items and tax (II-III) 1,871,746 915,524
v. Exceptional Items - -
vi.
Profit / (Loss) before extraordinary items and tax (IV - V) 1,871,746 915,524
vii. Extraordinary Items - -
viii. Profit before tax (VI - VII) 1,871,746 915,524
ix. Tax expense:
(1) Current tax - -
(2) Deferred tax - -
(3) Taxes of Earlier Years - -
x. Profit(Loss) from the perid from continuing operations (VIII-IX) 1,871,746 915,524

xi. Profit/(Loss) from discontinuing operations - -

xii. Tax expense of discounting operations - -
xiii. Profit/(Loss) from Discontinuing operations (XI - XII) - -
xiv. Appropriations 17 1,500,000 500,000
xv. XV. Profit/(Loss) for the period (X + XIII - XIV) 371,746 415,524
xvi. Earning per equity share:
Basic & Diluted na na

Summary of significant accounting policies

The accompanying notes are an integral part of the financial statements.
As per our report of even date attached.
For DSK & Associates For IIT Bombay Alumni Association
Chartered Accountants

CA. Pratul Dube (Partner) Bakul Desai (Chairman) Sandip Tarkas

Membership No. : 036288 Place : Mumbai (Treasurer)
FRN: 117710W Date : 28/06/2014
Place : Mumbai
Date : 28/06/2014

45
Notes forming part of the financial statements

Ref No. Note Particulars

1 Corporate information
The Company is a section 25 company which does not work
for profit.
The principal place of business of the company is : Indian
Institute of Technology, Gulmohar Bldg, 1st Floor, IIT Powai
Campus, Powai, Mumbai - 400076.
as 1.1 2 Significant accounting policies
2.1 Basis of accounting and preparation of financial statements
The financial statements of the Company have been prepared
in accordance with the Generally Accepted Accounting Princi-
ples in India (Indian GAAP) to comply with the Accounting
Standards notified under the Companies (Accounting Stan-
dards) Rules, 2006 (as amended) and the relevant provisions of
the Companies Act, 1956. The financial statements have been
prepared on accrual basis under the historical cost convention
and these costs are not adjusted to reflect the impact of the
changing value in the purchasing power of money. The ac-
counting policies adopted in the preparation of the financial
statements are consistent with those followed in the previous
year. Previous year's figures have been regrouped or reclassified
where necessary to conform to the current year's groupings
2.2 Use of estimates
The preparation of the financial statements in conformity with
Indian GAAP requires the Management to make estimates
and assumptions considered in the reported amounts of assets
and liabilities (including contingent liabilities) and the report-
ed income and expenses during the year. The Management
believes that the estimates used in preparation of the financial
statements are prudent and reasonable. Future results could
differ due to these estimates and the differences between the
actual results and the estimates are recognised in the periods in
which the results are known / materialise.
2.3 Depreciation and amortisation
as 6.29 Depreciation has been provided on the writen down value
method as per the rates prescribed in Schedule XIV to the
as 26.63
Companies Act, 1956 as revised by circular no. 14/93 dated
as 26.78 28/12/93 issued by the department of company affairs, Govt. of
India.
as 26.90.a
Intangible assets are amortised over their estimated useful life
as 26.90.b
of the asset.
as 26.94.a
The estimated useful life of the intangible assets and the am-
ortisation period are reviewed at the end of each financial year
and the amortisation method is revised to reflect the changed
pattern.

46
Ref No. Note Particulars
2.4 Receipts
as 7.38.b
as 7.38.c Receipts are recognised as income on accrual basis.
as 9.13 2.5 Other income
Interest income is accounted on accrual basis. Dividend income
is accounted for when the right to receive it is established.
2.6 Tangible fixed assets
as 10.20 Fixed assets are carried at cost less accumulated deprecia-
tion. The cost of fixed assets includes interest on borrowings
as 10.23 attributable to acquisition of qualifying fixed assets up to the
date the asset is ready for its intended use and other incidental
as 10.8.2
expenses incurred up to that date.
as 10.27
The Company has not revalued its assets any time during the
as 10.30 current or preceeding financial years.
2.7 Intangible assets
as 26.23 Intangible assets are carried at cost less accumulated amorti-
sation. The cost of an intangible asset comprises its purchase
as 26.59
price, including any import duties and other taxes (other than
as 26.62 those subsequently recoverable from the taxing authorities),
and any directly attributable expenditure on making the asset
ready for its intended use and net of any trade discounts and
rebates.
2.9 Fixed Asset Reserve
as 12 During the year fixed assets have been procured out of Devel-
opment Fund. The amount so utilized has been reduced from
the Development Fund and a separate Fixed Asset Reserve
has been created to the extent of the utilization of the Devel-
opment fund. This has the effect of reflecting the asset in the
schedule of fixed assets in the Balance Sheet with a corre-
sponding contra entry in the fixed asset reserve.
2.10 Provisions and contingencies
as 29.14 A provision is recognised when the Company has a present
obligation as a result of past events and it is probable that an
as 29.35
outflow of resources will be required to settle the obligation
as 29.27 in respect of which a reliable estimate can be made. Provisions
(excluding retirement benefits) are not discounted to their
present value and are determined based on the best estimate
required to settle the obligation at the Balance Sheet date.
These are reviewed at each Balance Sheet date and adjusted to
reflect the current best estimates. Contingent liabilities, if any,
are disclosed in the Notes.

47
Notes to Balance Sheet and Profit & Loss account
Note 8 Fixed assets

Ref.
No. A. Tangible assets Balance as at 1 April, Additions Disposals
2013

Computer 269,821.00 34,865

Office Equipments 235,415.00 182,555

Furniture & Fittings 79,936.00 -

Motor Vehicle 2,500.00 800,500

total 587,672 1,017,920 -
Previous year 351,934 -
Note 8.A Fixed assets (contd.)

Balance as at 1 April, Depreciation / Eliminated on

Ref. 2013 amortisation disposal of assets
No. A. Tangible assets
expense for the year

Computer 177,212.00 45,886

Office Equipments 55,475.00 28,623

Furniture & Fittings 35,041.00 8,126

Motor Vehicle 1,448.00 146
total 269,176.00 82,781 -

Previous year 138,816 51,944

Note 8.B Fixed assets (contd.)

Ref.
No. B. Intangible assets Balance as at 1 April, Additions Disposals
2013

Computer Software 64,932.00 -

total 42,023 9,164 -
Previous year 28,405 5,610

Ref. Balance as at 1 April, Additions Disposals

No. B. Intangible assets 2013

Computer Software 64,932.00 -

total 42,023 9,164 -
Previous year 28,405 5,610

48
 Gross block
Acquisitions Reclassified as Revaluation Effect of foreign Borrowing cost Other Balance as at
through business held for sale increase currency exchange capitalised adjustments 31/01/2014
combinations differences
- - - - - - 304,686

417,970
79,936

803,000
- - - - - - 1,605,592
351,934

Accumulated depreciation and impairment

Eliminated on Impairment Reversal of Other adjustments Balance as at Balance as at Balance as at
reclassification as losses impairment 31st March, 14 31st March, 14 31st March,
held for sale recognised in losses 2013
statement of recognised in
profit and loss Statement of
Profit and Loss

223,098 81,588 92,609

84,098 333,872 179,940

43,167 36,769 44,895

1,594 801,406 1,052
- - - - 351,957 1,253,635 318,496

190,760 161,174 213,118

Gross block
Acquisitions Reclassified as Revaluation Effect of foreign Borrowing cost Other Balance as at
through business held for sale increase currency exchange capitalised adjustments 31/01/2014
combinations differences
- - - 51,187 13,745 22,909 304,686
- - - 51,187 13,745 22,909 1,605,592
34,015 12,917 9,523 351,934

Acquisitions Reclassified as Revaluation Effect of foreign Borrowing cost Other Balance as at

through business held for sale increase currency exchange capitalised adjustments 31/01/2014
combinations differences
- - - 51,187 13,745 22,909 304,686
- - - 51,187 13,745 22,909 1,605,592
34,015 12,917 9,523 351,934

49
Schedule 8: Fixed Assets

Additions
Particulars Rate Opng bal Ist half II half Deductions Total Depreciation W.D.V
Air Conditioner 13.91% - 182,555 - 182,555 3,592.00 178,963
Camera 13.91% 2,752 - - 2,752 383.00 2,369
Cannon Camera 13.91% 8,745 - - 8,745 1,216.00 7,529
Card Scanning Machine 13.91% 5,334 - - 5,334 742.00 4,592
Computer Systems 40.00% 92,609 34,865 - - 127,474 45,886.00 81,588
Computer Software 40.00% 22,909 - - - 22,909 9,164.00 13,745
Cycle 13.91% 1,052 - - 1,052 146.00 906
Fridge 13.91% 4,255 - - 4,255 592.00 3,663
Furtniture & Fixtures 18.10% 44,895 - - - 44,895 8,126.00 36,769
Lamination Machine 13.91% 1,100 - - 1,100 153.00 947
LCD TV 13.91% 17,377 - - 17,377 2,417.00 14,960
Microphones 13.91% 7,186 - - 7,186 1,000.00 6,186
Microwave 13.91% 2,729 - - 2,729 380.00 2,349
Polycom Conference Machine 13.91% 18,892 - - 18,892 2,628.00 16,264
Scanner 13.91% 6,468 - - 6,468 900.00 5,568
Sony Handycam 13.91% 10,854 - - 10,854 1,510.00 9,344
I-Card Machine 13.91% 94,248 - - - 94,248 13,110.00 81,138
total 341,405 34,865 182,555 - 558,825 91,945 466,880
Additions to Fixed Assets

Computer System 40.00% 27-May-13 31-Mar-14 308 12,800.00 4,320.00

Computer System 40.00% 25-Sep-13 31-Mar-14 187 22,065.00 4,522.00
Air Conditioner 13.91% 28-Jan-14 31-Mar-14 62 144,692.00 3,419.00
Air Conditioner 13.91% 19-Mar-14 31-Mar-14 12 37,863.00 173.00
total 179,557.00 12,261.00

50
Note 3 : Funds

Sr. Particulars 31.03.2014 31.03.2013

1 64 Golden Jubilee Needy Student Fund 1,358,084 816,909
2 Archives Project (C-67) 697,363 643,022
3 Benevolent Fund 702,745 766,720
4 Development Fund 593,927 1,457,070
5 Financial Aid Programme 1,074,232 1,100,001
6 Fundamatics 558,800 -
7 IITBAA Decennial Fund 2,200,000 700,000
8 Sonery Baug Fund 993,934 1,123,699
9 Village Knowledge Centre Fund 10,210 10,210
10 Vilas Karnik Endowment Fund 1,432,602 1,267,989
total 9,621,896 7,885,619

Note 4 : Reserves & Surplus

Sr. Particulars 31.03.2014 31.03.2013

1 General Reserve 4,662,928 4,291,181
2 Life Membership Fee 23,272,176 19,092,176
3 Fixed Asset Reserves - Transfer from De- 983,055 -
velopment Fund
total 28,918,159 23,383,357
Note 5 : Advances Received
Sr. Particulars 31.03.2014 31.03.2013
1 Shell Advance 3,600,000 3,600,000
2 HATS Imprest 2,004,084 2,142,809
total 5,604,084 5,742,809

51
Note 6 : Trade Payables
Sr. Particulars 31.03.2014 31.03.2013

1 Arjun Barab 5,500 5,500

2 DSK & Associates 51,574 51,574
3 IIT Bomaby 8,631 -
4 Krishna Aluminium & Hardware - 48,000
5 Registration Fees Refundable 7,000 -
6 Sorabh Sodhani - 37,927
7 Unicomp Infosolutions Private Ltd - 600
8 Vinayak Kamath 9,000 9,000
total 81,705 152,601

Note 7 : Other Current Liabilities

Sr. Particulars 31.03.2014 31.03.2013

1 Gratuity Payalbe 207,297 91,558

2 Profession Tax payable - 1,375
3 Salary Payable 169,734 146,388
4 Shop Deposit 100,000 100,000
5 TDS payable 32,091 11,199
7 Telephone Expenses - 4,260
total 509,122 354,780

Note 9 : Trade Receivables

Sr. Particulars 31.03.2014 31.03.2013

1 Sundry Debtors - Considered good out- 2,546,611 739,014
standing for a period less than 6 months
2 Advances for Expenses 128,415 -
total 2,675,026 739,014
Note 10 : Cash & Cash Equivalent

Sr. Particulars 31.03.2014 31.03.2013

1 Cash on Hand 28,587 15,090
2 Balance with bank 5,837,765 3,840,124
3 Fixed Deposits 34,227,199 30,919,678
total 40,093,551 34,774,892

52
Note 11 : Other Current Assets

Sr. Particulars 31.03.2014 31.03.2013

1 Income Tax & TDS 451,291.00 394,724.27
2 Deposit for office Premises 88,500.00 88,500.00
3 R.A.Constuction-Advance (Basket Ball - 313,597.00
Court)
total 539,791 796,821.27
Note 12 : Receipts from Operations

Sr. Particulars 31.03.2014 31.03.2013

1 Registration Fees 3,402,012 3,424,626
2 Donation / Sponsorship Received 3,688,140 1,974,750
3 Royalty 450,000 466,540
4 Souvenir Sale 39,300 64,220
5 Year Book Income 10,000 207,200
6 Sale of Madhouse books 1,600 3,800
7 Closing Stock 159,218 234,778
total 7,750,270 6,375,914

53
Note 13 : Other Income

Sr. Particulars 31.03.2014 31.03.2013

1 Interest on Investments 2,693,312 2,254,684
2 Other Incomes 134,075 108,725
total 2,827,387 2,363,408.64

Note 14 : Operational Expenses

Sr. Particulars 31.03.2014 31.03.2013

1 Accomodation Charges 583,315 959,118.00
2 Catering & Decoration Expenses 1,433,407 1,083,125.00
3 Clean water drinking project-Hy- 487,616 -
derabad
4 Entertaiment & Program Expenses 116,060 75,884.00
5 Gift Articles 362,667 563,398.00
6 Honorarium Expenses 110,880 80,750.00
7 Meeting Expenses 12,730 6,000.00
9 Postage & Courier Expenses 31,652 74,229.00
10 Printing & Designing Charges 678,117 673,384.00
12 Professional Fees 260,270 140,375.00
13 Refreshments 279,645 303,236.00
14 Travelling & Conveyance A/c 303,960 303,973.00
15 Venue Expenses 394,463 95,506.00
16 Video Shooting & Photography 153,546 148,780.00
Charges
total 5,208,328 4,507,758.00

Note 15 : Employement Benefit Expenses

Sr. Particulars 31.03.2014 31.03.2013

1 Salary & Bonus 2,002,470 1,904,391
2 Staff Welfare 39,155 24,661
3 Ex-Gratia 255,118 130,154
4 Gratuity 115,739 91,558
total 2,412,482 2,150,763.50

54
Note 16 : Other Expenses
Sr. Particulars 31.03.2014 31.03.2013
1 Audit Fees 16,854 16,854.00
2 Balances W/off (33,202) 5,252.73
3 Bank Charges 12,481 17,852.05
4 Computer Expenses 19,820 24,895.00
5 Conveyance Expenses & Travelling 17,464 27,263.00
6 Credit Card Charges 31,884 33,307.86
7 Electricity Expenses 47,627 65,052.00
8 Insurance 2,650 2,650.00
9 Other Expenses 50,016 29,806.50
10 Printing & Stationery 184,479 262,601.50
11 Professional Fees 193,877 123,568.00
12 Professional Tax 2,500 2,500.00
13 Rent , Rates & Taxes 74,691 32,998.00
14 Repair & Maintenance 91,356 106,088.00
15 Telephone Expenses 43,362 47,491.71
16 Water Charges 2,519 2,403.00
total 758,377 800,583.35

Note 17 : Appropriations

Sr. Particulars 31.03.2014 31.03.2013

1 Transfer to IITBAA Decennial 1,500,000 500,000
Fund
total 1,500,000 500,000

Summary of significant accounting policies

The accompanying notes are an integral part of the financial statements.
As per our report of even date attached.

For DSK & Associates For IIT Bombay Alumni Association

Chartered Accountants

CA. Pratul Dube (Partner) Bakul Desai (Chairman) Sandip Tarkas

Membership No. : 036288 Place : Mumbai (Treasurer)
FRN: 117710W Date : 28/06/2014
Place : Mumbai
Date : 28/06/2014

55
Image courtesy Abhey Singh
IITBAA Services:
• Life-long @iitbombay.org forwarding email id,
• A web infrastructure that gives you monthly newsletters and updates
• Creation of mailing groups based on your chapter, hostel, department, batch and
other affiliations and a facility to network with a powerful alumni body
• Organising of events on the campus like batch reunions, Annual Alumni Day,
Sports meet, Mentorship programs and much more
• Organising of events in your local chapters like Freshers Night, talks, entertain-
ment and several other theme events.
• Cements your ties with the Institute and the global alumni community and
allows you numerous networking opportunities at your chapter level as well as
globally.

Additional services to life members:

• Life membership alumni card gives easy access to the campus
• Fifty percent concession in Guest House accommodation charges
• Access and concession in library membership charges, swimming pool and other
Gymkhana facilities.
• As a life member, you can steer the destiny of your association by electing your
Board of Directors in annual elections and you can yourself contest the elec-
tions.

Your support is important to IITBAA because:

• Alumni Association activities are supported only by life membership fees.
• Your life membership provides key support, enabling the Directors, volunteers
and staff of IITBAA/IITBHF, who work tirelessly, to implement initiatives,
programs, services and events.
Write to us at iitbaa.office@iitbombay.com and we will help you with the process of
becoming a life member.
Image courtesy Abhey Singh

IIT Bombay Alumni Association,

1st Floor, Gulmohar Building,
Next to Canara Bank, IIT Bombay Campus,
Powai, Mumbai 400076
T 022 2576 7086