Newsletter dated 17th February 2016

1. www.csrajivbajaj.com
THOUGHT OF THE DAY
THOUGHT OF THE DAY
“In order to carry a positive action we must develop a positive
vision.”
Law Updates:
 SFIO is solely empowered to investigate into affairs of the
companies, it supersedes over other investigations under
Companies Act: High Court.
 Dr. Raghuram G. Rajan, Governor, Reserve Bank of India while
addressing on Annual Conference of Banking Ombudsmen 2016,
has stated that the apex Bank will soon undertake incognito visits
to bank branches to check culture towards customer complaints in
banks. It will also undertake a review of how banks have
implemented Charter of Customer Rights.
 The Finance Ministry has cut interest rate on post office savings of
1, 2 and 3 year terms, Kishan Vikas Patra (KVP) as well as 5 year
Recurring Deposit, but left long-term instruments such as monthly
investment scheme (MIS), PPF, senior citizen and girl child plans
untouched.
PROFESSIONALS INPUTS:
 CBEC vide Notification No. 9 /2016-Customs dated 16th
February,
2016 has notified customs duty on electricity imported or cleared
from SEZ to DTA.
 IRDA vide Circular No. IRDA/CAGTS/CIR/LCE/029/02/2016
dated 16th
February, 2016 has issued clarification on IRDAI
(Registration of Corporate Agents) Regulations, 2015.
 CBEC vide Notification No. 04/2016-SERVICE TAX dated 15th
February, 2016 has notified the Service Tax and Central Excise
(Furnishing of Annual Information Return) Rules, 2016 to be
effective from 1st day of April, 2016.
MARKET WATCH:
SENSEX: 23164.61 -27.45 NIFTY: 7039.60 -10.65
SILVER: 37277.00 58.00 GOLD (MCX): 28880.00 -19.00
USD/INR: 68.38 0.32 CRUDE OIL: 2009.00 17.00
CS Rajiv Bajaj
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Date: 17th
February, 2016

2. www.csrajivbajaj.com
Michael Dell
Founder and CEO of Dell Inc.
Michael Saul Dell (born February 23, 1965) is an American business magnate,
investor, philanthropist, and author. He is the founder and CEO of Dell Inc., one of
the world’s leading sellers of personal computers (PCs). He was ranked the 41st
richest person in the world on 2012 Forbes list of billionaires, with a net worth of
US$22.4 billion as of December 2014.
In 2011, his 243.35 million shares of Dell stock were worth $3.5 billion, giving him
12% ownership of the company. His remaining wealth of roughly $10 billion is
invested in other companies and is managed by a firm whose name, MSD Capital,
incorporates Dell's initials. On January 5, 2013 it was announced that Michael Dell
had bid to take Dell Inc. private for $24.4 billion in the biggest management buyout
since the Great Recession. Dell Inc. officially went private on October 29, 2013.
Early life
Michael Dell was born in 1965 in Houston, to a Jewish family whose surname reflects the translation into English of
the original German/Yiddish Thal ("valley" or "dale [q.v.]"; modern common-noun spelling Tal) upon the family's
immigration to the United States.The son of Lorraine Charlotte (née Langfan), a stockbroker, and Alexander Dell, an
orthodontist, Michael Dell attended Herod Elementary School in Houston. In a bid to enter business early, he applied
to take a high school equivalency exam at age eight. In his early teens, he invested his earnings from part-time jobs in
stocks and precious metals.
Dell purchased his first calculator at age seven and encountered an early teletype terminal in junior high. At age 15,
after playing with computers at Radio Shack, he got his first computer, an Apple II, which he promptly disassembled
to see how it worked. Dell attended Memorial High School in Houston, selling subscriptions to the Houston Post in
the summer. While making cold calls, he noted that the persons most likely to purchase subscriptions were those in
the process of establishing permanent geographic and social presence; he then targeted this demographic group by
collecting names from marriage and mortgage applications. Dell earned $18,000 that year, exceeding the annual
income of his history and economics teacher.
Business Career
While a freshman pre-med student at the University of Texas, Dell started an informal business putting together and
selling upgrade kits for personal computers in Room 2713 of the Dobie Center residential building. He then applied
for a vendor license to bid on contracts for the State of Texas, winning bids by not having the overhead of a computer
store. In January 1984, Dell banked on his conviction that the potential cost savings of a manufacturer selling PCs
directly had enormous advantages over the conventional indirect retail channel. In January 1984, Dell registered his
company as "PC's Limited". Operating out of a condominium, the business sold between $50,000 and $80,000 in
upgraded PCs, kits, and add-on components. In May, Dell incorporated the company as "Dell Computer Corporation"
and relocated it to a business center in North Austin. The company employed a few order takers, a few more people
to fulfill them, and, as Dell recalled, a manufacturing staff "consisting of three guys with screwdrivers sitting at six-
foot tables". The venture's capitalization cost was $1,000.
In 1992, aged 27, he became the youngest CEO of a company ranked in Fortune magazine's list of the top 500
corporations.In 1996, Dell started selling computers over the Web, the same year his company launched its first
servers. Dell Inc. soon reported about $1 million in sales per day from dell.com. In the first quarter of 2001, Dell Inc.
reached a world market share of 12.8 percent, passing Compaq to become the world's largest PC maker. The metric
marked the first time the rankings had shifted over the previous seven years. The company's combined shipments of
desktops, notebooks and servers grew 34.3 percent worldwide and 30.7 percent in the United States at a time when
competitor's sales were shrinking. In 1998, Dell founded MSD Capital L.P. to manage his family's investments.
Investment activities include publicly traded securities, private equity activities, and real estate. The firm employs 80
people and has offices in New York, Santa Monica and London. Dell himself is not involved in day-to-day
operations. On March 4, 2004, Dell stepped down as CEO, but stayed as chairman of Dell Inc.'s board, while Kevin
Rollins, then president and COO, became president and CEO. On January 31, 2007, Dell returned as CEO at the
request of the board, succeeding Rollins