Newsletter dated 20th August, 2015

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THOUGHT OF THE DAY
THOUGHT OF THE DAY
“With faith, discipline and selfless devotion to duty, there is
nothing worthwhile that you cannot achieve...”
Law Updates:
 RBI grants in-principle nod to 11 companies for payment banks. The
central bank has approved applications of National Securities
Depository Limited (NSDL), Reliance Industries, Aditya Birla Nuvo,
Airtel M Commerce among others. (Press Release : 2015-2016/437
dated Aug 19, 2015)
 Market regulator Securities and Exchange Board of India (SEBI) has
rejected brokers' request to set a floor to brokerage rates. Brokers are
worried that cut-throat competition along with the entry of several
discount brokerages in the market might be pushing down broking
rates to unsustainable levels.
 Vide Circular ref IRDAI/LIFE/CIR/MISC/147/08/2015 dated 13th
August, 2015 issued by IRDA, IRDA issues master circular on Insurance
Advertisements.
PROFESSIONALS INPUTS:
 Vide Notification dated 19.08.2015 issued by MCA, Finalized National
Company Law Tribunal service condition Rules of President and
Members - yet to be notified.
 Vide Notification dated 19.08.2015 issued by MCA, Finalized National
Company Law Appellate Tribunal service condition Rules of
Chairperson and Members - yet to be notified.
 Vide Notification No. 76/2015-Customs (N.T.) dated the 18th August,
2015 issued by CBEC, Government issues Customs Baggage Declaration
(Amendment) Regulations,2015.
 Government notifies 'Challan No. ITNS 284' for depositing taxes under
Black Money Act.
 Vide Notification No 5959/Leg. A2/2015/Law issued by Kerela
Government, it is clarified that Now Kerala VAT shall be levied on
goods sold by multi-level marketing entities.
MARKET WATCH:
SENSEX: 27933.30 1.66 NIFTY: 8483.80 -11.35
SILVER: 35978.00 451.00 GOLD (MCX): 26418.00 222.00
USD/INR: 65.22 -0.06 CRUDE OIL: 2704.00 -6.00
CS Rajiv Bajaj
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Date: 20th August, 2015

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ARUN SARIN
Former CEO, Vodafone Group Plc.
“Success is a thing one beholds in one’s own mind; there is
no common benchmark.”
In his extraordinary career as a mover and shaker in the wireless
industry - including playing a key role in creating the world’s largest
telecommunications company, Vodafone/AirTouch — Arun Sarin has
managed to apply his core strengths at the helm of global conglomerates
as well as at Silicon Valley startups. Combining his engineering and
finance skills, passion for corporate strategy, and deep belief in the
human element of business, Sarin has built a legacy as a strategist,
operations genius, and visionary at the forefront of the budding wireless industry.
EARLY LIFE:
Arun Sarin was born on October 21, 1954 at Panchmari, Madya Pradesh. His father was an army officer and
Arun Sarin did his schooling from military boarding school in Bangalore. After schooling, Arun Sareen joined
IIT Kharagpur and graduated in 1975. In 1977, he did his MS in Engineering from University of California,
Berkeley and subsequently did his MBA from the same university in 1978.
CAREER PROFILE:
Arun Sarin started his professional career in 1978 as an environmental analyst for a Washington, D.C.,
consulting firm. In 1981, he joined Natomas in California as a corporate development manager. Arun Sarin
entered telecom industry in 1984, when he joined Pacific Telesis Group in San Francisco. At Pacific Telesis
Group, Arun worked closely with Sam Ginn, the legendary telecommunications entrepreneur. He worked with
Pacific Telesis in various professional and executive positions for 10 years, and was later appointed vice
president of corporate strategy. Arun Sarin left Pacific Telesis in 1994 when it split its mobile and paging
businesses.
In 1995, Arun Sarin followed his mentor Sam Ginn to a newly formed wireless-communications company,
AirTouch Communications. He was President and Chief Operating Officer of AirTouch from February 1997 to
June 1999. In 1999, AirTouch and Vodafone, a large British wireless communications company joined hands to
create Vodafone-AirTouch. Arun Sarin was made chief executive of the newly formed corporate entity. In April
2000, Arun Sarin resigned from Vodafone-AirTouch and took the CEO position at InfoSpace, an Internet
infrastructure company based in Bellevue, Washington. As CEO Arun Sarin led the merger of InfoSpace and
Go2Net, a consumer-portal company, for approximately $4 billion in a stock swap.
After an eight-month tenure at InfoSpace, Arun Sarin resigned. In July 2001, he joined Accel Partners and
Kohlberg Kravis Roberts (KKR) to lead a new telecommunications venture called Accel-KKR Telecom. After an
eighteen month stint at Accel-KKR Telecom Arun Sarin resigned and on July 30, 2003 he was installed as the
CEO of Vodafone.
On 27 May 2008, he announced his resignation (effective July) as CEO after Vodafone achieved record earnings.
During his tenure as Chief Executive of Vodafone group plc, he expanded the company geographically into
countries like India, Turkey, South Africa etc. increasing the customer base to approximately 300 million. He
expanded the product line of the company to include data, internet and broadband services. He streamlined the
operations of the company under the Vodafone brand to utilize the global scale while maintaining local
customer focus. He increased the dividends per share by 400 percent and returned value to shareholders
through buybacks. Sarin retired from Vodafone immediately after the company's annual general meeting on
July 29, 2008, and was succeeded by then Deputy-CEO Vittorio Colao
Until recently he was a senior advisor at the private equity firm - Kohlberg Kravis Roberts & Co. (KKR). Arun
Sarin joined Ola Cabs as an independent director, the second top Indian business leader to back the Bengaluru
start-up in July, a week after Tata Sons chairman emeritus Ratan Tata invested in the company.
HONORS AND AWARDS
He serves on the board of directors of Ola Cabs,Cisco Systems, and Charles Schwab. He also sits on the Board of
Trustees for the Blum Center for Developing Economies at the University of California, Berkeley.
In 2002, Arun Sarin was named the Haas School’s Business Leader of the Year for his outstanding contributions
to the business of telecommunications and to the school.