Newsletter dated 8th April, 2016

1. www.csrajivbajaj.com
THOUGHT OF THE DAY
THOUGHT OF THE DAY
“It is not in the stars to hold our destiny
but in ourselves.”
Law Updates:
 Versions of Forms INC-2, INC-7, INC-29, MGT-10, FTE, PAS-3
have been updated on MCA21 portal w.e.f 08th
April, 2016.
Stakeholders are advised to download the latest version before filing
as the earlier version will not be accepted by the system.
 ICSI vide Representation to MCA dated 7th
April, 2016 has
requested to waive off the additional fees due to difficulties in
accessing the MCA portal.
 Interest on refund is to be given to assessee if the refundable
amount is not paid to immediately but adjusted against demand for
earlier assessment year: SC.
 IRDA extends time limit for uploading KYC related details on
insurance transaction exchange upto 20th
April, 2016.
PROFESSIONALS INPUTS:
 MCA vide Notification dated 4th
April, 2016 has notified the
Companies (Filing of Documents and Forms in Extensible Business
Reporting Language) Amendment Rules, 2016.
 RBI vide Notification No. RBI/2015-16/363 DNBR (PD)
CC.No.077/03.10.001/2015-16 dated 7th
April, 2016 has notified
that concentration of credit/ investment norms shall not apply to a
systemically important non-banking financial company not
accessing public funds in India, either directly or indirectly, and not
issuing guarantees.
 CBEC vide Notification No. 48/2016 - Customs (N.T.) dated 07th
April, 2016 has notified the rate of exchange of one unit of foreign
currency equivalent to Indian rupees w.e.f. 08th
April, 2016.
MARKET WATCH:
SENSEX: 24666 .62 -22.80 NIFTY: 7547.90 0.45
SILVER: 36233 .00 -149.00 GOLD (MCX): 28957.00 -103.00
USD/INR: 66.47 -0.19 CRUDE OIL: 2542.00 64.00
CS Rajiv Bajaj
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Date: 08th
April, 2016

2. www.csrajivbajaj.com
Carlos Slim
Chairman and Chief Executive Telmex
Carlos Slim Helú is a Mexican business magnate, investor, and philanthropist. From
2010 to 2013, Slim was ranked as the richest person in the world. Known as the
"Warren Buffett of Mexico", he derived his fortune from his extensive holdings in a
considerable number of Mexican companies through his conglomerate, Grupo
Carso. As of 3 November 2015 he was #2 on Forbes list of billionaires, with net
worth estimated at US$77.1 billion.
Slim is the chairman and chief executive of telecommunications companies Telmex
and América Móvil, Latin America's largest mobile-phone carrier, which accounted for around $49 billion of
Slim's wealth by the end of 2010.
Slim's total conglomerate comprises a diverse portfolio of businesses from a wide array of industries that
include telecommunications, education, health care, industrial manufacturing, food and beverages, real estate,
airlines, media, energy, hospitality, entertainment, technology, retail, sports and financial services.
Slim has overseen a vast business empire that is influential in every sector of the Mexican economy and
accounts for 40% of the listings on the Mexican Stock Exchange, while his net worth is equivalent to about 6
percent of Mexico’s gross domestic product..
Early life and Education
Slim always knew he wanted to be a businessman and began to develop his business and investment acumen at
a young age. He received business lessons from his early childhood where his father Julian, often taught the
young Carlos the value of financial literacy, management and accountability, teaching him how to read financial
statements as well as the importance of keeping accurate financial records, a practice that Slim carries on to this
day.
Slim's first investment began at the age of 11, when he invested in a government savings bond that taught him
about the concept of compound interest. He eventually saved every financial and business transaction he made
into his personal ledger book which he keeps to this day. At the age of 12, he made his first stock purchase, by
purchasing shares in a Mexican bank. By the age of 15, Slim had become a shareholder in Mexico’s largest
bank. At the age of 17, he earned 200 pesos a week working for his father's company. He went on to study civil
engineering at the National Autonomous University of Mexico, where he also concurrently taught algebra and
linear programming, which meant that he was both a student and professor.
Though Slim was a civil engineering major because of his fascination for numbers, he also displayed an interest
in economics. He took economics courses in Chile once he finished his engineering degree. Graduating as a
civil engineering major, Slim has stated that his mathematical prowess and his background of linear
programming was a key factor in helping him gain an edge in the business world, especially when reading
financial statements.
Awards and Achievements
 Entrepreneurial Merit Medal of Honor in 1985 from Mexico's Chamber of Commerce.
 "Gold Patron" of the American Academy of Achievement.
 Commander in the Belgian Order of Leopold II
 CEO of the year in 2003 by Latin Trade magazine
 CEO of the decade in 2004 by Latin Trade magazine
 Fundacion Telmex received in 2007 the National Sports Prize of Mexico for sports promotion
 In 2008 his philanthropy was recognised with the award of The National Order of the Cedar by the
Lebanese government.
 In 2011 the Hispanic Society of America awarded Fundacion Carlos Slim the Sorolla Medal for its
contribution to the arts and culture.
 On May 20, 2012. Slim was awarded a Honorary Doctorate in Public Service from George Washington
University.