www.csrajivbajaj.com

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:

COMPAT quashes CCI’s penalty order of Rs. 6.75 crores on India

Trade Promotion Organisation: New Delhi CAT.

Apex Court admits SLP of revenue against 'Vodafone India' to

decide taxability of transfer of call option rights: Supreme Court.

Oppression plea dismissed as petitioner had already transferred his

shares before making such plea: CLB Chennai.

Assessee applied for composition of tax in respect of assessment

year 2005-06 and thereupon VAT Officer issued a certificate

regarding composition of tax and thereafter Assessing Authority

without cancellation of above certificate reassessed assessee for

above assessment year, it was only after certificate regarding

composition of tax was cancelled, reassessment could be made.

PROFESSIONALS INPUTS:

SEBI vide Circular No. CIR/CFD/FAC/62/2016 dated 05th July,

2016 has extended due date for submitting quarterly/ half yearly

results for the quarter ended 30.06.2016 and half year ending

30.09.2016 by one month for those listed companies which are

required to comply with Ind-AS with effect from 1st April,2016.

RBI vide Notification No. RBI/FMRD/2016-17/31 dated 05th July,

2016 has issued Master Direction - on Risk Management and Inter-

Bank Dealings.

MARKET WATCH:

SENSEX: 27166.76 -111.85 NIFTY: 8335.95 -34.75

SILVER: 46514.00 -951.00 GOLD (MCX): 31941.00 158.00

USD/INR: 67.45 0.19 CRUDE OIL: 3145.00 -132.00

CS Rajiv Bajaj

9811453353

Bajajr66@gmail.com

youtube.com/csrajivbajaj

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http://www.csrajivbajaj.com

Date:06th July, 2016

www.csrajivbajaj.com

Sanjiv Goenka Chairman- RP-Sanjiv Goenka Group

Sanjiv Goenka is the chairman of RP-Sanjiv Goenka Group which has an asset

base of over INR 32,000 crore (over US$ 4.8 billion). The Group has over 50,000

employees and over a hundred thousand shareholders with annual revenues of up

to INR 16,000 crore (US$ 2.5 billion). Alongside being the chairman of CESC

Limited, he also has under his wing, companies likeFirstsource Solutions Limited,

Philips Carbon Black Limited, Spencer's Retail and Entertainment

major Saregama Limited. Besides, he is also the co-owner of ISL football

club, Atlético de Kolkata. The new IPL team, Rising Pune Supergiants is also

owned by Sanjiv Goenka's New Rising. On 20 May 2015, Mr Sanjiv Goenka was

honoured with the highest civilian honour from the West Bengal, ‘Banga

Bibhusan 2015’ by the Hon’ble Chief Minister of the State, Mamata Banerjee and

the Governor of West Bengal, K. N. Tripathi. Mr. Goenka has been the youngest-ever President of

Confederation of Indian Industries (CII). A past Chairman of the Board of Governors, Indian Institute of

Technology (IIT) Kharagpur, he is also a former President of All-India Management Association (AIMA).

Currently he is Chairman of International Management Institute (IMI) which has campuses in Delhi, Kolkata

and Bhubaneswar. Mr Goenka is presently a Member of the National Foundation for Corporate Governance set

up by the Ministry of Corporate Affairs, Government of India. He was also a Member of the CII National

Council on Corporate Governance and Regulatory Affairs for the year 2013-14.He is going to interview

Sadhguru Jaggi Vasudev on 26 May 2016.

Early Life

Sanjiv is the younger son of Rama Prasad Goenka (RPG), effective founder of the RPG Group. He grew up

in Kolkata and graduated from St. Xavier’s College. He then began assisting his father and elder

brother Harsh in running the family business empire. In the mid-1980s, Sanjiv's parents arranged for him to

marry a girl of suitable family, belonging to his own Agarwal community, and he duly married Preeti. They are

now the parents of two children,

Career and achievements

Mr Sanjiv Goenka, oversees his Group of companies in the Power & Natural Resources, Carbon Black, IT &

Education, Retail, Media & Entertainment and Infrastructure sectors.

In the power sector, CESC, which has been generating power since 1899 in Calcutta and serves over 29 lac

customers. It currently generates 2300 MW of Power and is in the midst of rapid growth, with an investment

program of more than INR 35,000 crore aimed at raising generating capacity to 7000 MW in the next six years.

Chandrapur project has already commissioned operation and 600 MW Haldia thermal power plant was

inaugurated on 26 November 2014.

Phillips Carbon Black, the world’s second fastest-growing carbon black company, is also India’s largest. It has

also earned the credit of being the eighth largest carbon black manufacturer in the world.

Spencer’s is a pioneer in Indian retailing and runs over 120 stores across 35 cities in India. Currently Spencer’s

attracts footfall of 3.7 million every month.

Saregama India Ltd. is the custodian of over half of all the music ever recorded in India. This makes the

company the premier Music destination for South Asian Music and the most authoritative source of the region's

musical heritage. Saregama has the largest music archive and catalogue in India. He is one of the share holders

in India Cements.