Newsletter dated 07th September, 2016

1. www.csrajivbajaj.com
THOUGHT OF THE DAY
THOUGHT OF THE DAY
“Approach life knowing there will be plenty to go around.
Be generous.”
Law Updates:
 Notice issued under section 13(2) of SARFAESI Act by financial
institution tantamounts to an attachment and where such notice was
issued prior to attachment order passed by TRO, it would get
precedence over attachment of property by TRO.
 NCLT, in petition under section 397 of Companies Act, 1956, by
interim order, directed petitioner and respondents to nominate
directors on board of directors of respondent company where it was
found that there was deadlock in company and no board of directors
was functioning due to which several educational institutions run by
respondent company had been adversely affected: NCLT New
Delhi.
 CA not guilty of misusing of service tax collected from client;
further inquiry ordered.
 Deputy Director of Income Tax isn't empowered to lodge complaint
for prosecution against taxpayer: Supreme Court.
PROFESSIONALS INPUTS:
 LLP Forms Form 4, Form 5 and Form 8 are likely to be revised on
MCA21 LLP Forms Download page w.e.f 8th September 2016.
Stakeholders are advised to check the latest version before filing.
 CBEC vide Notification No. 40/2016-Service Tax dated 06th
September 2016 seeks to amend Notification No. 25/2012- Service
Tax, dated 20.06.2012, so as to make necessary amendment by
substituting the clause (a) of entry 5 in opening paragraph.
.
MARKET WATCH:
SENSEX: 28,978.02 445.91 NIFTY: 8,943.00 133.35
SILVER: 45,773.00 1,362.00 GOLD (MCX): 31,030.00 287.00
USD/INR: 66.29 -0.2 CRUDE OIL: 2,970.00 00.00
CS Rajiv Bajaj
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Date: 07th
September, 2016

2. www.csrajivbajaj.com
Adi Godrej
Chairman – Godrej Group
Adi Burjorji Godrej (born 3 April 1942), is an Indian industrialist and
businessman, head of the Godrej family, and chairman of the Godrej Group. As
of 2015, he is the 405th richest person in the world with a net worth of US$4.0
billion
Early Life
Godrej received his undergraduate degree from HL college and his MBA from the MIT Sloan School of
Management, where he was a member of the Pi Lambda Phi fraternity and a member of Tau Beta Pi.
Career
After his return to India, he joined the family business. He modernised the management structure and
implemented process improvements. Adi Godrej took the Godrej Group to great heights during the License Raj.
He heads the group alongside his brother, managing director of Godrej Industries and chairman of Godrej
Agrovet, Nadir Godrej, and his cousin, Godrej & Boyce managing director and chairman, Jamshyd Godrej.
Under his stewardship, Godrej Consumer Products has grown into a strong emerging market FMCG player
based on a 3X3 approach to international expansion — building a presence in 3 emerging markets (Asia, Africa,
Latin America) across 3 categories (home care, personal wash, hair care).
He is the chairman of the Indian School of Business since April 2011. and was elected as the president
of Confederation of Indian Industry (CII) for the year 2012-13. He has been a member of the Dean's Advisory
Council of the MIT Sloan School of Management[M3] , Chairman of the Board of Governors of the Narsee
Monjee Institute of Management Studies.
Led by Adi Godrej, the group is also involved in philanthropic activities. Godrej is a major supporter of
the World Wildlife Fund in India, it has developed a green business campus in the Vikhroli township of
Mumbai, which includes a 150-acre (0.61 km2
) mangrove forest and a school for the children of company
employees.
Twenty-five percent of the shares of the Godrej holding company are held in trusts that include the Pirojsha
Godrej Foundation, the Soonabai Pirojsha Godrej Foundation and the Godrej Memorial Trust.
Awards
Over the years, he has been a recipient of several awards and recognitions:
 Rajiv Gandhi Award, 2002.
 The American India Foundation (AIF) Leadership in Philanthropy Award, 2010.
 The Entrepreneur of the Year, Asia Pacific Entrepreneurship Awards, 2010.
 Best Businessman of the Year, GQ Men of the Year Awards, 2010.
 AIMA-JRD Tata Corporate Leadership Award, 2010.
 Bombay Management Association — Management Man of the Year Award, 2010-2011.
 Qimpro Platinum Standard Award for Business, 2011.
 Ernst & Young Entrepreneur of the Year, 2012.
 Padma Bhushan, 2012.
 The Asian Awards Entrepreneur of the Year, 2013.
 All India Management Association-Business Leader of the Year, 2014.