Newsletter CS Rajiv Bajaj 7th August 2014

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THOUGHT OF THE DAY
“Success is not Final, Failure is not fatal. It is a
courage to continue that counts.”
Law Updates:
 The Securities Laws (Amendment) Bill, 2014, would give more teeth to
Sebi to crackdown on fraudulent investment schemes, seek information
from any entity related to a probe and also provide for setting of special
courts to ensure speedy trial.
 In a bid to improve the sale of bad loans in the banking system, the
Reserve Bank of India has tightened the regulatory framework for asset
reconstruction companies The RBI said ARCs will henceforth have to
mandatorily invest and hold minimum 15 per cent (against 5 per cent
earlier) of the Security Receipts issued by them against the assets acquired
from banks on an ongoing basis till the redemption of all the receipts.
PROFESSIONALS INPUTS:
 Internet firms Flipkart and OLX are joining hands for one-of-a-kind
marketing partnership. The two sites will launch a joint campaign 'urging'
consumers to upgrade by selling used products on OLX before buying the
new products on Flipkart.
 In a major crackdown on illegal transactions, Indian tax agencies have
unearthed more than Rs 10,000 crore of tax evasion due to issuance of
fake bills as a part of its ongoing investigations.
 Employees' Provident Fund Organisation (EPFO) has settled more than
11 lakh claims during July 2014. This has taken the cumulative total
during this financial year to 43 lakh claims.
 Rating agency ICRA said here today that lenders would need to raise Rs
20,000 crore in additional tier-I (AT1) capital this fiscal, but flagged risk
posed by lower appetite for such instruments.
Market updates
SENSEX: 25623.56 46.71 GOLD (MCX): 28634.00 2.00
NIFTY: 7,657.55 14.50 USD/INR: 61.34 -0.17
SILVER: 44010.00 0.20 CRUDE OIL: 5697.00 .17
CS Rajiv Bajaj
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Date: 7th August 2014

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Ajay Bijli
PVR
In June 1997, when PVR launched its first Multiplex in Saket to a packed house. It was
the dawn of a new era in the Cinema Entertainment Business.
It is due to the blending of several circumstances that success beyond expectation
happens. There are pioneers in every entrepreneurial field. Ajay Bijli is the man who
revolutionized the movie-going experience in India and what he has achieved is worth a
“Bharat Ratna” for entrepreneurial ship!
His family was in the transport business, and a very successful one at that, but Ajay
always had this desire to do something on his own and hence he decided to follow his
heart and passion, that is cinema. The family owned a theatre Priya in Delhi and he
requested his father to allow him to manage it. His parents were completely supportive
of his ambition and admired their son’s desire to do something more difficult by coming
out of his comfort zone. During his visits abroad Ajay came in contact with the latest
technologies and accordingly he upgraded Priya Cinema’s sound system by installing
Dolby. He also improved the interiors and changed the seating arrangements. The
resultant success gave him the boost to dream big.
Today, the world over, changes are happening everyday as Ajay was dreaming big, he
took the less-traveled road to become successful. In the 90’s, the movie industry had
become “sluggish”. He started a joint venture with village road show in 1994 and with
investment by ICICI Ventures, he went into “national orbit” from “local orbit”. The
success of PVR Anupam brought the audience back into the theaters.
In addition to the Vision, an entrepreneur must be dedicated and hard worker. When an
entrepreneur is doing what he loves to do, work does not seem like work as it become
the source of joy. Today Ajay has 146 screens across 19 cities in India. Apart from
distributing 200 international and national films in the country; he has also produced
seven films. However his belief remains,“Be modest. A lot was accomplished before
you were born.”