Newsletter dated 26th October, 2015

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THOUGHT OF THE DAY
THOUGHT OF THE DAY
“A clear vision, backed by definite plans, gives you a
tremendous feeling of confidence and personal power…”
Law Updates:
 RBI rejects plan for 100% FDI in banks. Currently, the government
permits 74% FDI in private banks, with up to 49% allowed under the
automatic route. Foreign holdings beyond 49% need to be cleared by
the Foreign Investment Promotion Board (FIPB).
 The Income Tax department will roll out next week its 'pilot' project to
conduct scrutiny assessment in an e-environment. The first set of e-
communications will be emailed to 100 chosen people each in Delhi,
Mumbai, Bengaluru, Ahmedabad and Chennai regions.
 The government has issued revised energy norms under the new urea
policy for existing 25 gas-based urea plants in the country, a move that
is expected to save about Rs 800 crore in fertiliser subsidy.
 To put an end to rising cases of non-performing assets (NPAs) in banks
and loans to undeserving entities, the government has now made it
mandatory for all financial institutions to obtain an affidavit from
auditors who sign balance sheets of companies applying for advances.
Banks have also been asked to validate and verify these balance sheets
and profit and loss accounts with the ministry of corporate affairs
before sanctioning loans.
PROFESSIONALS INPUTS:
 Vide CBEC Circular No. 27/2015 dated 23 October, 2015 issued
guidelines for launching of prosecution in relation to offences
punishable under Customs Act, 1962.
 Vide CBEC Circular No. 28/2015-Customs dated 23 October, 2015
issued revised guidelines for Arrest & Bail in relation to offences
punishable under Customs Act, 1962.
 Markets regulator SEBI is mulling to make it must for all listed
companies to have a stated 'Dividend Policy'. Rather, it would require
the listed companies as also those looking to get listed through Initial
Public Offer (IPO) route to state the circumstances under which their
shareholders can or cannot expect a payout.
MARKET WATCH:
SENSEX: 27426.93 -43.88 NIFTY: 8275.40 -20.05
SILVER: 36940.00 20.00 GOLD (MCX): 26860.00 51.00
USD/INR: 65.00 0.17 CRUDE OIL: 2925.00 -26.00
CS Rajiv Bajaj
9811453353
Bajajr66@gmail.com
youtube.com/csrajivbajaj
https://www.facebook.com/Rajiv
1Bajaj
http://www.csrajivbajaj.com
Date: 26th October, 2015

2. www.csrajivbajaj.com
Ranjit Barthakur
Founder and Chairman of Globally Managed Services
Ranjit Barthakur is the Founder and Chairman of Globally Managed
Services (GMS), a modest Operational Consulting Incubator which was
founded in 2002. He brings over 35 years of varied experience in managing
and leading companies in a wide range of industries, including Fast Moving
Consumer Goods, Telecommunications, Tourism, Technology,
Environment, Ecology, Outsourcing and Healthcare.
Early life
Born in 1954 in Jorhat, Assam, to a family of lawyers, his childhood was imbued with Indian values and
regular exposure to international issues. His father abandoned the legal profession in favour of planting
tea. Ranjit Barthakur’s life has been viscerally influenced by Kaziranga, the Brahmaputra, Assam’s floods
and the fierce pride that Assamese everywhere are known for. He founded the Balipara Foundation and is
the Chairman of Globally Managed Services (GMS). He speaks to Bittu Sahgal about Naturenomics™ and
his personal dream to see his home state lead India towards more productive, more ecologically-sensible
ambitions.
Professional Success
Ranjit Barthakur is the Chief Architect of the thought process at GMS of developing the theme of
NaturenomicsTM - A Differentiated Approach to Capital Formation, and has co-founded several initiatives
under this theme – Balipara Tract & Frontier Foundation (BTFF) - promoting agriculture and bio-diversity
based community initiatives, and NatureFirst (focused on restoring the balance between nature through
land,energy,waste, water, air and carbon) and River Journeys and Bungalows of India (nature based
tourism business). Ranjit has set up other entrepreneurial ventures such as Agilisys [a leading technology
solutions provider, formerly Netdecisions], Advent Healthcare (a facilitator in the healthcare industry in
India), and Green Ecological Managed Services (GEMS & NatureFirst)-(A fully integrated, first of its kind
environmental services organization) which was acquired by TCS and where he continues as Advisor to the
Environmental Services Unit. He in the process of incubating three independent verticals – Water, Legal
Corporate Services, Jungle and Forest Management. In order to encourage team work and sportsmanship,
he took on Chairmanship of Jaipur IPL Team Rajasthan Royals, the inaugural champions of the Indian
Premier League. He is also the architect of the Wills Cricket Series, both national and international, in the
80’s and 90’s, one of the early innovators of sponsorships marketing in India. Prior to becoming an
entrepreneur, Ranjit was CEO of Hutchison Max-Touch Telecom (Vodafone) in India, Chairman of
Marconi in the Indian Sub-continent, and held senior positions in Sales and Marketing at ITC, one of
India's leading Fast Moving Consumer Goods companies.
Ranjit has extensive hands-on experience in diverse geographic markets like India, South East Asia, Japan,
Russia, Middle East, UK, Europe and USA. In 2001, Ranjit stepped into public service when Assam
Government appointed him as Advisor for strategy, action planning, project formulation, investment
initiation and image building exercise for the state of Assam, he continues to perform the role after being
reappointed in 2011. In addition to this, he is supporting Mr. S. Ramadorai, Advisor to the Office of Prime
Minister of India on National Skill Development. He is also the member of the Planning Commission’s
Steering Committee on Eco-Tourism.
Ranjit strongly believes in ‘Social Entrepreneurship towards Betterment of Human Health and Education’
and is consistently driving these initiatives and projects. Ranjit has initiated growth projects for public
interest, social development, and innovation in social business, environmental conservation and market
consolidation. He is hoping that his emphasis on promoting environmental preservation coupled with his
openness to transfer his knowledge and innovative ideas will help this sector on a long term basis.