newsletter rajiv bajaj_24th july 2014
TRANSCRIPT
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THOUGHT OF THE DAY
Enjoy this moment...for this moment is
your life.
Law Updates :
SEBI-CIRCULAR/IMD/FIIC/17/2014-to enhance the investment
limit in government securities available to all FPIs by USD 5
billion by correspondingly reducing the amount available to long
term FPIs from USD 10 billion to USD 5 billion within the overall
limit of USD 30 billion.
The Union environment ministry has decided to consider group
clearances for adjacent mines of Coal India Limited (CIL), the
near-monopolist in the sector, rather than considering individual
project proposals.
Company can’t be absolved from redressing investor’s grievance
when its management is taken over by workers union.
PROFESSIONALS INPUTS:
RBI/2014-15/145- A. P. (DIR Series) Circular No. 13- Foreign
investment in India by SEBI registered Long term investors
in Government dated Securities.
The TDS wing of Mumbai Income Tax Department has decided to
submit a detailed report to Central Board of Direct Taxes (CBDT)
with its recommendations on various issues dealt with taxpayers.
Cenvat Credit: Technicalities cannot stand in way of Cenvat
Credit, if necessary ingredients required for availing same under
prescribed forms are otherwise available.
Transfer Pricing Officer (TPO) couldn’t choose Cost plus Method
to fix Arm length Price (ALP) if there was a functional difference
in export and domestic segment.
MARKET WATCH:
SENSEX: 26,093.66 -53.67 GOLD (MCX): 28,760.00 -122.0
NIFTY: 7,779.25 -16.50 USD/INR: 60.06 -0.04 SILVER: 44,665.0 -0.59 CRUDE OIL: 6208.00 0.13
CS Rajiv Bajaj
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Date: 24th July 2014
Date: 2nd July 2014
www.csrajivbajaj.com
Inspirational Story of Azim Premji (Chairman of Wipro Technologies) Azim Premji is the Chairman of Wipro Technologies, one of the
largest software companies in India. He is an icon among Indian
businessmen and his success story is a source of inspiration to a
number of budding entrepreneurs. He was Born on July 24, 1945,
Azim Hashim Premji was studying Electrical Engineering from
Stanford University, USA when due to the sudden death of his father;
he was called upon to handle the family business. Azim Premji took
over the reins of family business in 1966 at the age of 21. Under
Azim Premji’s leadership Wipro has metamorphosed from a Rs.70
million company in hydrogenated cooking fats to a pioneer in
providing integrated business, technology and process solutions on a
global delivery platform. Today, Wipro Technologies is the largest
independent R&D service provider in the world. At the first annual
general meeting of the company attended by Azim Premji, a
shareholder doubted Premji’s ability to handle business at such a
young age and publicly advised him to sell his shareholding and give
it to a more mature management. This spurred Azim Premji and
made him all the more determined to make Wipro a success story.
And the rest is history.
Azim Premji has several achievements to his credit. In 2000, Asia
week magazine, voted Premji among the 20 most powerful men in
the world. Azim Premji was among the 50 richest people in the world
from 2001 to 2003 listed by Forbes. In April 2004, Times Magazine
rated him among the 100 most influential people in the world by
Time magazine. He is also the richest Indian for the past several
years. In 2005, Government of India honored Azim Premji with
Padma Bhushan.