Newsletter dated 29th April, 2015

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THOUGHT OF THE DAY
“Life is all about taking chances, appreciating the memories,
learning from past and finding HAPPINESS...”
Law Updates:
 The government will not take away the Reserve Bank of India’s
(RBI) power to regulate trade in government bonds even as it
prepares to remove the central bank's responsibility for managing
public debt.
 Central Government, exercising its power conferred under Section
14 of the Foreign Contribution Regulation Act (FCRA) 2010,
cancelled the certificate of registration of 8,975 NGOs for not filing
their annual returns.
 A PricewaterhouseCoopers forensic report, which pointed out that
UB Group's Vijay Mallya had diverted cash from United Spirits and
its subsidiaries to other group companies between 2010 and 2012,
has put the spotlight on the role of statutory auditors.
PROFESSIONALS INPUTS
 As one of the biggest reform of setting up of company in India, MCA
has announced in its webcast, the introduction of a new e-form INC-
29, for filling application for registering a company. So, now instead
of filling E-Forms DIN-3, INC-1, INC-7/2, INC-22 & DIR-12, you
can only file INC- 29, it is a single form in place of 5 forms. This E-
Form is scheduled to be introduced w.e.f. 1st May, 2015.
 Vide Circular No.1001/8/2015-CX.8 dated 28-04-2015 issued by
Central Board of Excise and Customs, Clarification on rebate of duty
on goods cleared from DTA to SEZ.
 Vide Circular No. 3 of 2015-16, Dated: 27/04/2015 issued by DVAT,
registration process has been eased under DVAT and CST.
 Vide Circular No. 2 of 2015-16 dated 27/04/2015 issued by Delhi
VAT, the last date of filing of online/hard copy of fourth quarter
return for the year 2014-15, in Form DVAT-16 ,DVAT-17 and DVAT-
48 along with required annexure/enclosures has been extended to
15/05/2015
MARKET WATCH:
SENSEX: 27237.31 -159 .07 NIFTY:8238.30 -47.30
SILVER:37424.00 -103.00 GOLD (MCX): 27154.00 -36.00
USD/INR: 63.22 0.06 CRUDE OIL: 3613.00 -13.00
CS Rajiv Bajaj
9811453353
Bajajr66@gmail.com
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Date: 29thApril, 2015

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Lalita D. Gupte,
Non-Executive Chairman, ICICI Venture Funds
Management Company Limited.
Ms. Lalita D. Gupte is currently Chairperson of ICICI Venture Funds
Management Company Limited.
She retired at the end of October 2006 as Joint Managing Director and Member
of the Board of ICICI Bank Limited. Ms. Lalita D. Gupte was responsible for
setting up the International business of ICICI Bank since 2001.
EARLY LIFE:
Mrs. Gupte holds a Bachelor of Arts (Economics Honours) and a Master’s Degree in Management Science from the
Jamnalal Bajaj Institute of Management Studies, University of Mumbai. She did her Advanced Management
Programme at INSEAD.
CAREER PROFILE:
Recruited directly from the Mumbai-based Jamnalal Bajaj Institute of Management Studies, Gupte had begun
her career with ICICI Ltd (which later merged with ICICI Bank) in 1971 as a trainee in the Project Appraisal
department. Ms. Lalita D. Gupte has held various leadership positions in areas of Corporate and Retail Banking,
Strategy, Resources, and International Banking and other areas. She was instrumental in transforming ICICI
Bank from a primarily term lending institution into a technology led diversified financial services group. Ms.
Lalita D. Gupte was at the helm of ICICI Bank’s global foray, which includes operations in over seventeen
countries. She served in different locations and capacities, and had played a pivotal role in the listing of ICICI
share in the New York Stock Exchange(NYSE) – the first Indian enterprise to be listed in NYSE, and the second
Asian Bank to do so.
Ms. Lalita D. Gupte joined the Board of ICICI Ltd in 1994 as Executive Director and remained on the Board
including as Joint Managing Director until 2002 when it merged with ICICI Bank and she became Joint
Managing Director of ICICI Bank from 2002-2006 and at the same time was made in-charge of the Bank's
growing international operations. In May 2007 Gupte was named to the board of the Finnish mobilephone giant
Nokia.
ACHIEVEMNTS AND ACCOLADES
Her contributions have been widely recognized, and the awards conferred on her include the following:
 The twenty First Century for Banking Finance and Banking award (1997) by Ladies Wing of the Indian
Merchants’ Chamber
 The Women Achievers Award (2001) from the Women graduates’ Association.
 Women of the Year Award (2002) by the International Women’s’ Association.
Her other current directorships and positions are as follows:
 Non-Executive Director of the Board of Bharat Forge Ltd (*), Pune (India);
 Non-Executive Director of the Board of Kirloskar Brothers Ltd (*), Pune (India);
 Non-Executive Director of the Board of Godrej Properties Ltd (*), Mumbai (India);
 Non-Executive Director of Sesa Sterlite Limited (*), Mumbai (India);
 She is also a Member of the CAPP (Center for Asia Pacific Policy) Board of RAND.
Note: (*)- Listed Company