Newsletter dated 12th April 2017

1. www.csrajivbajaj.com
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THOUGHT OF THE DAY
THOUGHT OF THE DAY
“The pessimist complains about the wind; the optimist expects
it to change; the realist adjusts the sails.”
Law Updates:
• Sum remitted as share application money to AE rightly treated as
loan in absence of allotment of shares: Bangalore Tribunal.
• Land used for planting fruit bearing trees for personal consumption
was to be regarded as agricultural land.
• Shifting of registered office without notice to shareholders of
Company is illegal: NCLT Kolkata.
• Company couldn't remove its statutory auditor without prior
approval from Central Govt.: NCLT Hyderabad.
• No demurrage charges if delay in receiving consignment was due to
compliance of statutory obligations: Supreme Court.
PROFESSIONALS INPUTS:
• CBEC vide Notification No. 13/2017-Cus (ADD) dated 11th
April,
2017 has Seeks to levy definitive anti-dumping duty on import of (i)
Flexible Slabstock Polyolâ (ii) originating in or exported from
Thailand for a period of five years (unless revoked, superseded or
amended earlier).
• CBDT vide Press Release dated 11th
April 2017 has introduced d
the Electronic PAN Card (E-PAN) which is sent by email, in
addition to issue of the physical PAN Card, to all applicants
including individuals where PAN is allotted.
MARKET WATCH:
SENSEX: 29788.35 212.61 NIFTY: 9237.45 55.55
SILVER: 42187.00 821.00 GOLD (MCX): 29193.00 454.00
USD/INR: 64.49 -0.07 CRUDE OIL: 3448.00 24.00
CS Rajiv Bajaj
9811453353
Bajajr66@gmail.com
youtube.com/csrajivbajaj
https://www.facebook.com/Rajiv
1Bajaj
http://www.csrajivbajaj.com
Date: 12th
April, 2017

2. www.csrajivbajaj.com
Bill McDermott
CEO of SAP SE
William R. "Bill" McDermott (born August 18, 1961) is the CEO of SAP
SE. He served as co-CEO of SAP alongside Jim Hagemann Snabe (de) from
February 2010 until May 20, 2014.
Early life and Education
McDermott was born one of three children to Kathleen and Bill McDermott and raised
in Amityville on Long Island. He became an entrepreneur as a teenager by purchasing a local
delicatessen, Country Deli, for $7,000 in promissory notes. This deli paid his way through Dowling
College, where he studied Business Management.
He is a grandson of basketball player Bobby McDermott. McDermott and his wife Julie, a breast
cancer survivor, have two sons. In July 2015, McDermott suffered from a fall that cost him his left
eye, but returned to SAP headquarters in October of that same year.
Career
After Dowling College, McDermott earned his MBA from Northwestern University's Kellogg School
of Management, and then completed the Executive Development Program at the Wharton School of
Business.
After running his own business through high school and college, he began his professional career
at Xerox, where he worked for 17 years and became the company's youngest Division President.
McDermott served as President of Gartner and Executive Vice President of Worldwide Sales and
Operations at Siebel Systems. He was recruited to SAP in 2002 as the CEO of SAP America. In 2008,
he was appointed to the SAP Executive Board, and in February 2010, he became co-CEO of SAP AG.
On May 21, 2014, McDermott was promoted to CEO of the company, now known as SAP SE. He
became the first American to hold that position.
In 2016 McDermott earned a direct remuneration of €11.6 million, becoming the best-paid of the
executives leading the companies that form the German stock index DAX.
Affiliations
McDermott is a member of the Business Roundtable and the European Roundtable of Industrialists
(ERT).
McDermott wrote a memoir, Winners Dream: A Journey from Corner Store to Corner Office, with
Joanne Gordon. The book was published by Simon & Schuster in October 2014. The book won an
Axiom Business Book Award.