Newsletter dated 25th September, 2015

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THOUGHT OF THE DAY
THOUGHT OF THE DAY
“With the new day comes new strength and new thoughts…”
Law Updates:
 The International Accounting Standards Board (IASB) will propose
temporary measures for insurance companies. Further, confirmed that
it will propose amending IFRS 4, Insurance Contracts, to give
companies whose business model is to predominantly issue insurance
contracts an option to defer the effective date of IFRS 9 until 2021.
 Income Tax Department has released utility for A.Y. 2014-15 for Filing
of Tax Audit Report, Transfer pricing Audit Report, MAT Audit, Trust
Audit, Special Audit etc.
PROFESSIONALS INPUTS:
 Cost Accounting Standards Board (CASB) releases the Exposure Draft
of Cost Accounting Standard on Production and Operation Overheads
(CAS-3) (Revised 2015). Please submit your views / comments /
suggestions latest by 23rd October 2015.
 MCA notified that New forms AOC-4(Non-XBRL), MGT-7, ADT-2 &
SH-9 are available w.e.f 25th September 2015 along with C&I
Validation tool beta version. Further, the Versions of forms CRA-4 and
CHG-4 are modified w.e.f 25th Sept 2015.
 Vide SEBI Circular No.CIR/CFD/CMD/ 5 /2015 dated September 24,
2015 releases Format for compliance report on Corporate Governance
to be submitted to Stock Exchange (s) by Listed Entities.
 Vide RBI Notification No. RBI/2015-16/183 DBR.BP.BC.No. 40
/21.04.142/2015-16 dated 24 September, 2015 issued Guidelines on
Partial Credit Enhancement to corporate bonds by banks which shall be
limited to 20 per cent of the bond issue size.
 Vide CBDT Press Release dated 24 September, 2015 notified regarding
applicability of Minimum Alternate Tax (MAT) on foreign companies
having no PE in India.
 Vide RBI Notification No. RBI/2015-16/185 A.P. (DIR Series) Circular
No.16 dated September 24, 2015 notified regarding Processing and
settlement of import and export related payments facilitated by Online
Payment Gateway Service Providers.
MARKET WATCH:
SENSEX: 25863.50 40.51 NIFTY: 7868.50 22.55
SILVER: 36223.00 773.00 GOLD (MCX): 26948.00 481.00
USD/INR: 66.16 0.16 CRUDE OIL: 2984.00 1.00
CS Rajiv Bajaj
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Date: 25th September, 2015

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Dipali Goenka
Managing director of Welspun Global Brands Ltd.
“India can ensure that it remains competitive in the global
market through focused growth in the sector…”
Dipali Goenka is an entrepreneur based in Mumbai, Maharashtra, India. She
is the Managing director of Welspun Global Brands Ltd. and heads the Asia‟s
largest and the world‟s third largest Home Textile manufacturer, and part of
the US$ 3.5 Billion Welspun Group. She is one of the promoters of the
Welspun Group. Dipali is a member of the Governing Body of FICCI FLO,
the women's wing of the Federation of Indian Chambers of Commerce, and
the chairperson of FLO - Mumbai Chapter.
Early life and education
Born on 13 October, 1969 Dipali is a graduate in Psychology and has completed the Owner/President
Management Program from the Harvard Business School. She leads Welspun‟s retail initiative in India and
has set up distinct brand — “SPACES Home & Beyond”. Dipali initiated the set up of Welspun
Vidyamandir High School, a school affiliated under Central Board of Secondary Education and Welspun
Anganwadi, a pre-primary school in Anjar, Gujarat, India. She is also a trained Kathak dancer of the
“Jaipur Gharana”.
Career
Welspun Global Brands Ltd. (WGBL) was formed after the demerger of Welspun India Ltd into two
separate companies. The demerger was announced in September 2008 and WGBL was officially launched
in March 2009. WGBL is exclusively responsible for the sales and marketing division of the home textile
business of Welspun. Established in 1985 as Welspun Winilon Silk Mills Pvt. Ltd, a synthetic yarn
business, Welspun‟s textile business emerged in its current form in 1995 with the incorporation of
Welspun India Limited. It's one of the top three home textile manufacturers in the world, with world class
manufacturing facilities in India. . Being the largest exporters of home textile products from India, the
company caters to the likes of Wal-Mart, J C Penny, and Macy‟s to name a few. The business is spread
across the world with a distribution network in over 32 countries including U.S.A., U.K, Europe, Canada
and Australia with more than 90% of the total production being exported. The Company is listed in
Bombay Stock Exchange (BSE) India and National Stock Exchange (NSE) India.
Dipali is an enviable trailblazer, having powered the dynamics of the Welspun textile group since its
inception in 1985. She has conceptualized the path breaking retail initiatives of the first generation
company, radically contemporized design set ups and created the successful brands „Spaces Home and
Beyond‟ and „Welhome‟ to meet the needs of the aspiring as well as the middle class consumer base in the
country.
Dipali Goenka has positioned „Spaces, Home and Beyond‟ as a retail home fashion brand with an
international edge that offers complete home décor. Spaces offer a cutting edge menu of stylish designs
together with experiential shopping through its countrywide spectrum of over 300 stores. In 2003 Goenka
launched Welhome to address the needs of the cost-conscious consumer. Tracing an innovative trajectory,
she has spun cotton dreams through the organic route, building phenomenal exports as a buffer for the
Welspun group, and is poised to soar higher through her dreams for the company.