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THOUGHT OF THE DAY

THOUGHT OF THE DAY

“Do you want to know who you are? Don't ask. Act! Action

will delineate and define you.”

Law Updates:

Uploading of notice on DVAT website in account of assessee is

valid service of notice: Delhi High Court.

No credit of High Speed Diesel Oil even if it was used to generate

electricity for captive consumption.

CLB without taking into consideration plea of petitioner about

misrepresentation and fraud in transfer of shares rejected

application of petitioner for cancellation of transfer of impugned

shares only on basis of fact that petitioner had not disputed her

signature on transfer documents, order of CLB was to be set aside.

Shri Sudarshan Sen has taken over as the new Executive Director at

the Reserve Bank of India on 04th July, 2016. He will look after

Department of Banking Regulation, Department of Co-operative

Banking Regulation and Department of Non-Banking Regulation.

PROFESSIONALS INPUTS:

RBI vide Press Release No. 2016-2017/31 dated 04th July, 2016 has

cancelled the licence of Jijamata Mahila Sahakari Bank Limited,

Satara, Maharashtra to carry on banking business.

CBEC vide Notification No. 31/2016-CENT dated 04th July, 2016

has amended notification no. 17/2004-CE (NT) dated 04.09.2004

for supply of exempted bunker fuel to the specified Indian Ships /

Vessels from the warehouse.

MARKET WATCH:

SENSEX: 27278.76 133.85 NIFTY: 8370.70 42.35

SILVER: 47465.00 1906.00 GOLD (MCX): 31736.00 273.00

USD/INR: 67.26 - 0.06 CRUDE OIL: 3277.00 6.00

CS Rajiv Bajaj

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Date:05th July, 2016

www.csrajivbajaj.com

RAJEEV CHANDRASEKHAR Founder, Chairman and CEO-Jupiter Capital

Rajeev Chandrasekhar (born 31 May 1964) is an Indian politician and

an entrepreneur who is currently serving as Member of Parliament in the

upper house (Rajya Sabha) of the Indian Parliament. He represents

the state of Karnataka.

He also currently serves as member of the Parliament Standing Committee

on Defence, Consultative Committee on Defence, the Central Advisory

Committee for the National Cadet Corps, select committee on Real Estate

and Select Committee on GST.

He is the founder and chairman of Jupiter Capital, a financial services and

investment company, and founder of BPL Mobile, a major mobile phone service provider in India.

Early Life and Education

Rajeev was born in Ahmedabad, Gujarat to Air Commodore M. K. Chandrasekhar of the Indian Air Force, and

Mrs. Valli Chandrasekhar. His parents are from Kerala and belong to the Nair community.

He studied in various schools across India, and enrolled to study electrical engineering at Manipal Institute of

Technology. He completed Masters in Computer Science in 1988 from Illinois Institute of Technology,

Chicago. He then completed the Advanced Management Program at Harvard Business School.

Career

In 1981, Rajeev briefly worked for Softech, a start-up IT firm. After handpicked by Vinod Dham, Rajeev

worked for Intel Corporation in the United States between 1985 and 1991 as Senior Design Engineer of the

team that designed and launched 32 bit 80486 microprocessor and CPU architect in the team that designed the

path breaking Pentium microprocessor.

In 1994, Rajeev founded BPL Mobile. On July 2005, he sold his 64 percent stake in BPL Communications

to Essar Group for US$1.1 billion.

Rajeev founded Jupiter Capital in 2005, with an initial investment of US$100 million, and currently has

investments and managed assets of over US$800 million in technology, media, hospitality and entertainment. In

April 2013, he was awarded an honorary doctorate by Visvesvaraya Technological University, Belgaum, for his

work as an entrepreneur.

Rajeev Chandrasekhar was an Independent member of Rajya Sabha representing Karnataka from April 2006 to

April 2012. In April 2012, he was re-elected to the Rajya Sabha from Karnataka for a second six-year term as

an Independent member. He has advocated for governance reforms, institution building, Internet freedom,

national security, welfare of the Armed Forces Personnel and sustainable city building of Bangalore and

Karnataka.

Position Held

Founder, Chairman and Chief Executive Officer, Jupiter Capital Pvt. Ltd.

Founder and Principal Donor – Flags of Honour Foundation

Founder and Managing Trustee – RC Foundation (RCF)

Chairman, National Military Memorial