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THOUGHT OF THE DAY

THOUGHT OF THE DAY

“The most important thing is to enjoy your life - to be happy - it's all that matters…”

Law Updates:

OECD presents outputs of OECD/G20 BEPS Project for discussion at G20 Finance Ministers meeting, reforms to the international tax system for curbing avoidance by multinational enterprises.

Government will come out with a national Intellectual Property Rights

(IPR) policy in the next couple of months, which will be one of the "finest" in the world, DIPP Secretary Amitabh Kant said.

The government has revised upwards the amount declared during the 90-day black money disclosure compliance window made available under the black money law, though the number of disclosures remained unchanged. The total amount disclosed stands at Rs 4,147 crore compared with Rs 3,770 crore stated earlier.

PROFESSIONALS INPUTS:

MCA Issued Report of the high level committee to suggest measures

improved monitoring of the implementation of corporate social

responsibilities policies.

Vide CBDT Notification No. 49/2015-Customs dated 5th October, 2015

Seeks to further amend notification No. 12/2012-Customs dated

17.03.2012 so as to increase the basic customs duty on ghee, butter and

butter oil from the present rate of 30 to 40 for a period upto and

inclusive of the 31st day of March, 2016.

Vide CBEC Notification F. No. 354 / 98 /20015-TRU dated 5 October,

2015 CBEC notified 70% abatement Eligible on services ancillary to

GTA service.

The Institute of Cost Accountants of India has requested its members to

raise ―Ticket‖ on the MCA21 portal for their queries relating to the

problem they are facing in filing of CRA- 4 instead of mailing/raising

the same to the Institute.

MARKET WATCH:

SENSEX: 26854.23 68.68 NIFTY: 8130.30 11.00

SILVER: 36650.00 -91.00 GOLD (MCX): 26420.00 37.00

USD/INR: 65.28 -0.02 CRUDE OIL: 3034.00 4.00

CS Rajiv Bajaj

9811453353

Bajajr66@gmail.com

youtube.com/csrajivbajaj

https://www.facebook.com/Rajiv1Bajaj

http://www.csrajivbajaj.com

Date: 6th October, 2015

www.csrajivbajaj.com

Patu Keswani

Chairman and Managing Director of Lemon Tree

Hotels Ltd

An unlikely entrepreneur, Patu Keswani combined engineer-like ratios to build a perfect hotel in Gurgaon in 2004. Today, his Lemon Tree Hotels is a pan-India hospitality group—India‘s fourth largest. Lemon Tree Hotels have a strong brand—of being both affordable and efficient, much like a low-cost airline.

Early life

Patu Keswani completed his education at St. Columba‘s School, New Delhi. He received his Bachelor‘s Degree in Electrical Engineering from Indian Institute of Technology Delhi and subsequently his Post Graduate Diploma in Business Management from Indian Institute of Management Calcutta. Keswani's father was an Indian Railway Service officer and his mother a doctor in the Indian Army. He lives in New Delhi.

Career

Keswani joined the TATA Administrative Service (TAS) in 1983 and worked with the TATA Group for over 15 years. His last assignment was as senior vice president and chief operating officer of the Taj Group of Hotels. In mid 2000, he joined management consulting firm, A.T. Kearney Inc. as director in their New Delhi office. Two years later, in 2002, Keswani promoted Lemon Tree Hotels. Keswani is the chairman and managing director/CEO of Lemon Tree Hotels, which owns and operates 26 hotels with over 3,000 rooms across 15 cities pan India, with 3,200 direct employees and a net worth of over Rs. 2000 Cr (US$350 Mn). Another 8 hotels, aggregating over 1200 rooms are under development. Investors in Lemon Tree Hotels include APG, Warburg Pincus, Kotak and Shinsei Bank of Japan. Keswani is particularly interested in offering opportunities to physically disabled Indians and has ensured that around 10% of group employees (~300 people) are from this disadvantaged segment of the population. Consequently, Lemon Tree Hotels has been presented the National Award by the President of India for "Best Employer of Persons with Disabilities" in 2011 and a second National Award in 2012 for being a ‗Role Model in providing a Barrier Free Environment to Persons with Disabilities‘. A supporter of the NGO People for Ethical Treatment of Animals, Lemon Tree Hotels is also the largest corporate adopter of stray dogs in India. A "thought" leader in the Indian Hotel Industry, Keswani is the chairman for the Sector Skills Committee for Hospitality, Travel and Tourism for the National Skills Development Corporation (NSDC), and is a member of the Sector Mentor Council for the Hospitality, Travel and Tourism Industry in the Ministry of Labor and Employment. Keswani is a member of the University Grants Commission,(UGC, Ministry of Human Resource Development, Government of India), on the board of directors of Education Consultants India Limited (EdCIL) and on the Council for Industry and Higher Education Collaboration (CIHEC), both of which are initiatives of the Ministry of Human Resource Development, Government of India. Keswani is also a member of the board of governors of IIT (Indian Institute of Technology) Delhi.

Awards

Keswani has been awarded the Distinguished Alumni Award by his two Alma Maters - IIT Delhi in 2011 and IIM Calcutta in 2012. Keswani was inducted into the FHRAI (The Federation of Hotel and Restaurant Associations of India) Hall of Fame in 2010 and into the ‗Hotelier India‘ Hall of Fame in 2012.