Newsletter dated 10th July, 2015

1. www.csrajivbajaj.com
c
THOUGHT OF THE DAY
THOUGHT OF THE DAY
“Wisdom is the power to put our time and our knowledge
to proper use...”
Law Updates:
 Concerned over banks‟ reluctance to resolve accounts that are showing
signs of stress, and instead resorting to „ever greening‟, the Reserve
Bank of India (RBI) is mulling stringent norms for loans that are
frequently falling in the category 2 of special mention accounts (SMA
2). Loans are classified as SMA 2 when it becomes overdue for more
than 60 day. Feels banks often opt for refinancing rather than resolving
the problem, especially with lack of agreement between lenders.
 The Bombay Stock Exchange (BSE) today called for ending exemption
of capital gains tax on securities to contain various entities using capital
markets to evade taxes and launder money.
PROFESSIONALS INPUTS
 All our stakeholders are requested to note that services on the
www.mca.gov.in portal will not be available from 08:00AM to
06:00PM on Saturday, 11th July 2015 due to periodic maintenance
activities. While in the past, such activities may have been carried out
after office hours, this time the maintenance activities are required to
be carried out during the day since collaboration with other offices is
required. All stakeholders are requested to plan their filing activities
accordingly.
 Vide D.O.No.279/M-88/2014-ITJ, dated 3rd July, 2015, CBDT upset
with frivolous filing of appeals by officials; reiterates its stance of filing
appeals in deserving cases
 Vide Notification ref GSR 534(E) dated 03rd July,2015, Govt. notifies
manner of computing foreign holding in an Indian Insurance Company
 Vide Notification ref RBI/2015-16/122 DNBR (PD) CC.No.
065/03.10.001/2015-16 dated July 09, 2015, Non-banking financial
companies (NBFCs) will be required to take prior approval of the
Reserve Bank of India (RBI) for change in the shareholding, including
progressive increases over time, which would result in acquisition or
transfer of shareholding of 26 per cent or more of the paid up equity
capital.
MARKET WATCH:
SENSEX: 27612.91 39.25 NIFTY: 8336.50 7.95
SILVER: 35455.00 127.00 GOLD (MCX): 26092.00 28.00
USD/INR: 63.4 0.01 CRUDE OIL: 3390.00 29.00
CS Rajiv Bajaj
9811453353
Bajajr66@gmail.com
youtube.com/csrajivbajaj
https://www.facebook.com/Rajiv
1Bajaj
http://www.csrajivbajaj.com
Date: 10th July, 2015

2. www.csrajivbajaj.com
GAUTAM SINGHANIA
Chairman and MD, Raymond Group
The chairman and managing director of one of the world’s
largest textile manufacturing conglomerate “Raymond group”,
Gautam Singhania perfectly epitomizes his company’s tagline
“THE COMPLETE MAN”, as he is one of the iconic Indian
entrepreneurs.
EARLY LIFE & EDUCATION:
Gautam Singhania was born in an industrialist family, to Vijaypat Singhania
and Ashabai Singhania. Born on 7th July 1965, Shri Gautam Hari Singhania is
a commerce graduate from the University of Mumbai and has nearly 30 years of experience in the field of
Industry, Business and Corporate Management.
CAREER PROFILE
In 1986, Gautam joined his family‟s “JK Group of companies” and rose to prominent positions within the
company from being a director in 1990 to the chairman of Raymond Group in 2000. The talented
businessman applied his industry analytical skills to the inherited business to restructure the group.
Since then he has steered the destiny of Raymond Limited with a single-minded focus of making Raymond
an internationally reputed fibre to fashion player. He has been responsible for the strategic decision of
restructuring the Group, initiating the divestment of its noncore businesses of Steel, Cement and
Synthetics. Post divestment, the Group has consolidated its position with a focused market oriented
approach.
With a drive for creating new Brands, Shri Singhania has taken active interest in the launch of new services
and products. He was instrumental in the successful launch of the brand Kama Sutra in 1991. In the year
1996, he launched a new division called Million Air, providing quality Air-Taxi charter services. It was
under his leadership that the fashion casual wear brand Parx and Raymond Premium Apparel were
launched. In the year 2001,
Shri Gautam Hari Singhania introduced the concept of corporatization of designer wear in India. He was
also instrumental in Raymond‟s acquisition of Color Plus, a leading menswear brand. Under his
leadership, the Raymond Group has become an internationally reputed premium fibre to fashion player
with immense strength in worsted suiting, high value cotton shirting, denim, garmenting, owning market
leading brands with a deep distribution network across the country and a premium international client
base.
Shri Gautam Hari Singhania as Chairman and Managing Director has been looking after the overall affairs
and operations of the Company under the supervision and control of the Board of Directors. He is involved
in policy planning, vision and strategy and long term development activities of the Company. He has been
instrumental in taking the Company from strength to strength to its present position. The Company has
made enormous progress under the stewardship of Shri Singhania and his vision is to take the Raymond
Brand from being amongst the most respected Indian brands to be amongst the best in the global markets.
AWARDS AND ACCOLADES:
Shri Gautam Hari Singhania is a Member of the Committee of Directors of the Company (which also
functions as Stakeholders /Investors Grievance Committee) as also the Remuneration and Nomination
Committee.
SUCCESS MANTRAS…!!!
 The breaks you take from work pay you back manifold when you return because
you come back with a fresher mind and newer thinking. Some of your best ideas
come when you're on vacation
 It's impossible to be someone you're not, so quit trying. Your Hobbies, Work and
Family are equally important at all times to be successful.