Newsletter dated 7th May, 2015

1. www.csrajivbajaj.com
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THOUGHT OF THE DAY
“Success in life is the continued expansion of happiness and
the progressive realization of worthy goals...”
Law Updates:
 The Lok Sabha has approved a constitutional amendment for
establishing a goods and services tax (GST) which will replace
multiple central and state taxes with one levy, but the game-
changing reform of indirect taxes faces a major hurdle in the
Rajya Sabha, where the BJP-led government lacks the numbers.
 Real Estate Bill to be taken up in Rajya Sabha today, showdown
between Centre, Opposition likely.
 The Cabinet Committee on Economic Affairs (CCEA) has raised
the threshold for foreign direct investment requiring its approval
to Rs 3,000 crore from the present Rs. 1,200 crore. The decision
is expected to expedite the approval process and result in
increased foreign investment inflow.
PROFESSIONALS INPUTS
 Vide Notification No.SEBI-NRO/OIAE/GN/2015-16/003 dated
05.05.2015, SEBI prescribes norms on pricing for debt-equity
conversion under debt-restructuring scheme; amends ICDR
norms. Move will give bankers larger say in distressed firms by
allowing them to acquire majority stake and take over
management.
 The Union Cabinet has Introduced Real Estate Investment
Trusts (REITs) as an eligible financial instrument / structure
under Foreign Exchange Management Act (FEMA) 1999. The
approval is expected to enable foreign investment inflows into
the completed rent yielding real estate projects, which is, as of
now, prohibited under the FEMA Regulations.
 Vide Notification No F.No. IRDA/Reg/3/93/2015 it is clarified
that, IRDA's approval is must to register transfer of shares of
Insurance-co. if it changes substantial holding of transferee.
 DIPP has invited suggestions for examining the possibility of
replacing multiple prior permissions in starting a business with
pre-existing regulatory mechanism and preparation of draft
legislation for the same purpose.
MARKET WATCH:
SENSEX: 26723.97 6.60 NIFTY: 8084.00 -13.00
SILVER: 37928.00 -64.00 GOLD (MCX): 26915.00 4.00
USD/INR: 63.85 0.31 CRUDE OIL: 3878.00 -4.00
CS Rajiv Bajaj
9811453353
Bajajr66@gmail.com
youtube.com/csrajivbajaj
https://www.facebook.com/Rajiv
1Bajaj
http://www.csrajivbajaj.com
Date: 7thMay, 2015

2. www.csrajivbajaj.com
Sabeer Bhatia,
Entrepreneur, Founded The Hotmail Email
Service And Jaxtr.
Who could have imagined that a simple young man from an upper middle
class family in India would rise up to the global forum, finding a breakthrough
web browser? Hotmail service, the world’s second largest Email service
provider that took the world by storm is the brain child of Sabeer Bhatia, a
man with simple insight into human needs that can be catered by technology.
EARLY LIFE:
Sabeer Bhatia was born in 1969 at Chandigarh. He comes from a humble background. His father was an army officer
and his mother worked with the Central Bank of India. Sabeer Bhatia had his earlier schooling at Bishop Cotton's
School in Pune and later on at St Joseph's College in Bangalore. After passing out from school he joined the Birla
Institute of Technology (BITS) at Pilani. At Pilani, he qualified to try for a transfer scholarship at Cal Tech, considered
to be the world's most competitive scholarship. Sabeer Bhatia was the only applicant in the entire world in 1988 to get
a passing score of 62. In 1988 Sabeer Bhatia came to America and completed his B.Sc. with honours and earned a
master's degree in electrical engineering from Stanford University. In 1992, while working on his Ph.D, Sabeer
dropped out and joined Apple Computers as a systems integrator.
CAREER PROFILE:
Unlike most of the engineering graduates who fly to the United States with the sole dream of settling down with a job,
a condo and a dog, Sabeer looked beyond. He thought about the usability of technology in the mankind’s everyday life.
During his stint working as hardware engineer for Apple Inc. Sabeer understood the premise of the emergence of the
new world. He was astonished as to how much a web browser could help, enabling people access the internet with a
differenc. This thought precisely led him to start Hotmail along with his colleague Jack Smith in 1996, the time when
the world was just about getting used to the ways of the virtual life. Hotmail was an instant phenomenon, with over
369 million verified email users to this day. People still bank on the Hotmail service, despite the fact that Gmail holds
the strongest position as the front runner all over the globe. Bhatia simply did not call it a rest. He had more plans
with technology and ideas that could change the way people saw the use of internet. He led Hotmail service to a
meteoric rise, until it was acquired by none other than Bill Gates’ Microsoft Corporation in 1998. He continued to
work with Microsoft, and later kick started another venture with them called Arzoo Inc. Sabeer Bhatia's vision was to
make Arzoo.com, the world's largest human network of intellectual capital. But Arzoo.com failed with the burst of dot-
com bubble. In 2006 Sabeer Bhatia relaunched Arzoo as a travel portal. Sabeer Bhatia has also started a new venture
called BlogEverywhere with co-founders Shiraz Kanga and Viraf Zack. The man on the run started another free
messaging service called Jaxtr SMS. The messaging service was started with a mission to change the way SMS worked,
the same way as Hotmail changed the way people looked at Emails. The venture, however was not a very great
success. Sabeer continues to work on newer ideas, constantly trying to bring ground breaking inventions to the world.
Despite all the success and attention that he had received, Sabeer had his share of personal setbacks in the form of a
divorce that happened in the year 2008.He continues to rediscover stuff on the internet. Bhatia’s latest mission is an
email collaboration software that he invested in, called ccZen.
Sabeer Bhatia is one of the names from India that puts the out of the box ahead on the world podium. Till date,
younger engineers aspire to be the next Sabeer Bhatia in the making.
AWARDS AND ACCOLADES:
 Entrepreneur of the Year – 1997 (Draper Fisher)
 TR100 – One of the top 100 innovators of the century by MIT
 One of the Ten Most Successful Entrepreneurs – 1998 (Upside Magazine)
 He was named by TIME as one of the "People to Watch" in International Business (2002)