Newsletter dated 09th February, 2016

1. www.csrajivbajaj.com
THOUGHT OF THE DAY
THOUGHT OF THE DAY
“Success in life is a function of your willingness to accept
change.”
Law Updates:
 Version of Form 4 LLP is likely to be modified w.e.f 10th
February, 2016. Stakeholders are requested to plan accordingly.
 Logistics service provider can use CUP method, if profit sharing
ratio with AE is similar to that of third party: Delhi Tribunal.
 The telecom regulator on Monday struck down differential pricing
for internet services offered by telecom players to mobile users, in
a bid to uphold the principles of net neutrality.
 Terming the current pace of taxpayers’ grievance redressal process
as “unsatisfactory”, the Central Board of Direct Taxes (CBDT) has
asked the Income Tax (IT) department to resolve the complaints
within 2 months.
 CESTAT-Chennai flaks CCE(A) for passing order without
determining the issue and not stating the reason of his decision.
 Mere deposit of surplus funds in FDRs could not be held as
application of income by a trust: Chandigarh Tribunal.
PROFESSIONALS INPUTS:
 RBI vide Notification No. RBI/2015-16/314 A.P. (DIR Series)
Circular No.49/2015-16 [(1)/18(R)] dated 04th
February, 2016 have
given general permission for any person to buy foreign exchange
from any post office in India in the form of postal order or money
order.
 Ministry of Finance vide Notification dated 2nd
February, 2016 has
notified the Appellate Tribunal for Forfeited Property (Procedure
for Appointment of Chairman) Rules, 2016.
MARKET WATCH:
SENSEX: 23938.42 -349.85 NIFTY: 7276.45 -108.25
SILVER: 37265.00 1459.00 GOLD (MCX): 28510.00 986.00
USD/INR: 67.94 0.29 CRUDE OIL: 2050.00 -107.00
CS Rajiv Bajaj
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Date: 09th
February, 2016

2. www.csrajivbajaj.com
V. G. Siddhartha
Founder-owner of the chain of Cafe Coffee Day
outlets.
V. G. Siddhartha is an Indian businessman from Karnataka. He is
best known as the founder-owner of the chain of Cafe Coffee Day
outlets.
Siddhartha (now known V. G. Siddhartha) obtained a master's degree
in economics from Mangalore University, Karnataka. He married the
daughter of S. M. Krishna, the former Chief Minister of Karnataka,
Indian Minister for External Affairs and Governor of Maharashtra.
Early career
After doing his Masters he joined J M Securities Limited in Mumbai as a management trainee/intern in trading
on the Indian Stock Market under Mr. Mahendra Kampani. After two years with J M Securities Limited, when
Siddhartha returned to Bangalore, his father gave him money to start a business of his choice. Siddhartha
bought a stock market card for Rs 30,000, along with a company called Sivan Securities, which was renamed in
2000 as Way2wealth Securities Ltd with vision to set "new standards in the retail financial services in India". Its
venture capital division came to be known as Global Technology Ventures (GTV) as well as a site in the city in
1984 and turned it into a highly successful investment banking and stock broking company.
Coffee business
Almost 15 years later, Siddhartha established a successful coffee business in Karnataka. He grows coffee in
Chikmagalur and exports about 28,000 tonnes of coffee annually and sells another 2,000 tonnes locally for
about Rs 350 million each year. His coffee growing and trading company, Amalgamated Bean Company
(ABC), has an annual turnover of Rs 25 billion. Siddhartha now has 200 exclusive retail outlets selling his
brand of Coffee Day powder all over South India. ABC is India's largest exporter of green coffee.
He owns 12,000 acres of coffee plantations. He started his coffee trading company ABC in 1993, with a Rs 60
million turnover. His company grew gradually. He bought an ailing coffee curing unit in Hassan for Rs 40
million and turned it around. Now, his company has a curing capacity of 75,000 tonnes, which is the largest in
the country.
He was the first entrepreneur in Karnataka to set up a cyber café in 1996 (Café Coffee Day, a chain of youth
hangout coffee parlors). Now, he has 1550 Coffee Day Cafes in India. Siddhartha also hopes to win the contract
to take his chain to all the airports of Karnataka and then to the rest of the country. His cyber cafes attract at
least 40,000 to 50,000 visitors a week.
Siddhartha was awarded the Entrepreneur of the year title in 2003 by The Economic Times for "crafting a
successful pan Indian brand for a commodity business and giving Indian consumers a new lifestyle experience
that is within reach of the common man".
Amalgamated Bean Coffee Trading Company Ltd. today is the largest exporter of green coffee from India and
perhaps one of the two fully integrated coffee companies of Asia, involved in all sectors of coffee from
plantations to retailing to exports. Coffee Day Group today is the only fully integrated and the largest coffee
conglomerate in India and is credited with creating the "coffee revolution" in India — acknowledged by the
Coffee Board of India Amalgamated Bean Coffee Trading Company Ltd.. From a handful of cafés in six cites in
the first five years, Café Coffee Day has become India's largest and premier retail chain of cafes with 1,423
cafes in 209 cities/towns.