Newsletter dated 13th October, 2015

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THOUGHT OF THE DAY
THOUGHT OF THE DAY
"Whatever you can do, or dream you can, begin it.. Boldness
has genius, power and magic in it…"
Law Updates:
 The Rajasthan government will use surplus money of state PSUs for
providing finance to power companies and sick units. The newly
constituted body will be named as Rajasthan State Power Finance and
Financial Services Corporation and surplus amount of the state PSUs
will be kept with the Corporation instead of banks.
 Government plans to create intelligence unit to track food prices. With
the abnormal rise in prices of essential commodities such as onions,
potatos, pulses, tomatoes and edible oils becoming a seasonal affair, the
government is considering creation of a specialized entity that can help
forecast demand and supply of such items.
 Centre circulates model GST laws among states. The Centre and states
have completed the drafting of the model Goods and Services Tax law
as well as an integrated GST or iGST law, which will be put up in the
public domain by early November.
PROFESSIONALS INPUTS:
 MCA notified that Services on MCA portal will not be available from
16th Oct, 2015 08:00 PM to 19th Oct, 2015 8:00 AM.
 Vide CBEC Circular No. 1007/14/2015-CX dated 12 October, 2015
notified regarding withdrawal of order under 37B of Central Excise Act,
1944 on classification of Coconut Oil packed in small containers.
 Vide CBDT Press Release dated 10 October, 2015 issued clarification
regarding fresh Income tax notice to Nokia India that the demand
arising from the assessment order passed in August 2015, along with
the demands raised earlier are already being considered under Mutual
Agreement Procedure (MAP) of the India-Finland tax treaty by the
Competent Authorities in both countries.
 SEBI will soon allow the companies to file ten-page abridged
prospectus for initial public offers as part of its efforts to help
disseminate information in a more investor-friendly manner.
MARKET WATCH:
SENSEX: 26841.51 -62.60 NIFTY: 8126.00 -17.60
SILVER: 36826.00 -155.00 GOLD (MCX): 26762.00 -26.00
USD/INR: 65.02 0.26 CRUDE OIL: 3096.00 21.00
CS Rajiv Bajaj
9811453353
Bajajr66@gmail.com
youtube.com/csrajivbajaj
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Date: 13th October, 2015

2. www.csrajivbajaj.com
Siddhant Vats
Co-Founder of Androidly Systems
Siddhant Vats is an Indian entrepreneur and investor. He is the co-
founder & chief marketing officer of Androidly Systems which has been
credited to have made the world's first Android technology watch.
Siddhant is also the youngest business leader at the Horasis Global
Business Meet. Siddhant has been invited to the white house by the U.S.
President Barack Obama. Siddhant is also a speaker at the prestigious
TEDx Talks.
Early life
Siddhant was born in Patna, Bihar, India. His father and mother, both are Government of India officers.
His father Shreevats Sanjay is the Deputy Director General at India Tourism, Ministry of Tourism,
Government of India. His mother, Ratna Purkayastha, is an officer with Doordarshan Kendra (Ministry of
Information and Broadcasting). Siddhant lived 5 years in London, United Kingdom before shifting to
United States.
Career
Siddhant founded Androidly Systems with Apurva Sukant and two other friends when he was just 17 years
old. He says, We were responsible for making the world‟s first Android smart-watch. We named the watch
„Androidly‟. Through this watch you can make calls, browse the Internet, use Whatsapp, listen to music,
and click pictures. Practically, you can do anything which your phone can do. He even delayed his high
school education by two years for this. Androidly smart-watch is available across the globe since mid 2013
at $220. It has been sold across 110 countries. Siddhant says, “The upcoming Androidly smart-watches will
run the latest Android version and the design will be closer to that of an actual watch (unlike the current
one which seems too big). It can be worn as a fashion accessory as well.”
There‟s something special about Siddhant Vats, and to name a few things which distinctly place him ahead
of his peers, include:
 He is a dreamer. That‟s the first thing which helped him become an entrepreneur. He doesn‟t
hesitate in taking risks. In fact, he doesn‟t consider them risky at all.
 He believes that like the Bollywood movies, everything ends well; otherwise it‟s not the end.
(Picture abhi baaki hai mere dost).
 He started his NGO when he was in the 8th grade.
 He didn‟t constrain himself within rules. He has done whatever he wanted to do which he feels was
morally right for him.
Philanthropy
Siddhant is also the Co-Founder and President of the non profit organisation, Falak Foundation. Siddhant
started the non-profit organisation with teaching privileged children and organising free health camps
when he was still in school. Siddhant has set up an International Monastery (Wat Lao) in Bodh Gaya. He
hopes that this will increase the foreign exchange in India and contribute towards the economic growth.