1. www.csrajivbajaj.com
THOUGHT OF THE DAY
THOUGHT OF THE DAY
“The less you respond to negativity, the more peaceful your life
becomes.”
Law Updates:
Incentives/volume discounts given by media owners to advertising
agencies are 'gratuitous payments' and there is no
'activity'/'contractual relationship' between advertising agencies and
media owners to warrant such incentives/discounts; hence, such
incentives/discounts cannot be charged to service tax.: AAR New
Delhi.
SAT upholds SEBI's order debarring entities from accessing
securities-market as they had failed to pay margin money: SAT
Mumbai.
CLB's didn't err in declaring directors' appointment as bad 'in law'
as such appointment was in an oppressive manner.
SEBI directs top 500 listed Cos. to have mandatory dividend
distribution policy
PROFESSIONALS INPUTS:
Forms ADJ, AOC-4, INC-6, INC-12, INC-29 and SCP (serious
complaint) are likely to be updated on MCA21 Company Forms
Download page w.e.f 2nd June 2016. Stakeholders are advised to
check the latest version before filing.
MCA vide Notification dated 31st
May, 2016 has notified the
Companies (Authorised to Register) Amendment Rules, 2016.
CBEC vide Notification No. 29/2016-CE(NT) dated 31st
May, 2016
notifies Rules for Indirect Tax Dispute Resolution Scheme;
prescribes 4 forms under the Scheme.
MARKET WATCH:
SENSEX: 26,713.96 47.97 NIFTY: 8,179.95 19.85
SILVER: 38,567. 00 167.00 GOLD (MCX): 28,632.00 -12.00
USD/INR: 67.44 19.00 CRUDE OIL: 3,306.00 - 27.00
CS Rajiv Bajaj
9811453353
Bajajr66@gmail.com
youtube.com/csrajivbajaj
https://www.facebook.com/Rajiv
1Bajaj
http://www.csrajivbajaj.com
Date: 02nd
June, 2016
2. www.csrajivbajaj.com
Dilip Shanghvi
Founder –Sun Pharmaceuticals
Dilip Shanghvi (born 1 October 1955) is an Indian businessman and one of
the richest persons in India. He is the founder and managing director of Sun
Pharmaceuticals. As of the 2015 Forbes real time ranking, he overtook
the Mukesh Ambani as the richest person in India. The Government of
India awarded him the civilian honour of the Padma Shri in 2016.
Dilip Shanghvi started Sun Pharmaceutical Industries with capital of Rs
10,000 in 1982 at Vapi.. Today, the market cap of the company is more
than Rs 1.20 lakh crore, with total annual income of more than Rs 15,000
crore and a net profit of over Rs 3,000 crore.
Sun, which has so far bought over 16 companies, this year created history
by acquiring Ranbaxy Labs for $4 billion and becoming world's fifth-
largest pharma company.
Early Life and Education
Dilip was born in small town of Amreli in Gujarat on 1 October 1955. Shanghvi earned a Bachelor of
Commerce degree from the University of Calcutta. He is an alumnus ofJ. J. Ajmera High
School and Bhawanipur Education Society College, from where he did his schooling and graduation,
respectively.
Dilip Shanghvi started by helping his father in the latter's wholesale generic drugs business in Kolkata.
He did travel to Mumbai for a year of college, but later returned to Kolkata to complete his studies. It
was during his work as a drugs distributor that he thought of making his own drugs instead of selling
others' products.
This started the journey of Sun Pharma, which was founded with two marketing executives and five
psychiatry drugs in 1982. Back then, very few multinational drug firms would make these drugs, as
their products were selling well.
Career and achievements
Dilip Shanghvi started Sun Pharmaceutical Industries with capital of Rs 10,000 in 1982 at Vapi. Shanghvi
founded Sun Pharmaceuticals in 1983 with five psychiatry products. Today, it is India's largest drugmaker and
most valuable drug company. Appreciation of Sun's stock led to a 50% surge in his personal wealth, amounting
to USD 4.7 billion. As of August 2014, he has a net worth of $17.2 billion, according to the Bloomberg
Billionaire's Index. He has also been named in the list of Asia’s top ten wealthiest self-made billionaires,
according to Wealth-X. Shanghvi is also the Chairman and Managing Director of Sun Pharma Advanced
Research Company and Shantilal Shanghvi Foundation.
In 1997, he acquired Caraco Pharma, a loss-making American company, with the aim of expanding Sun's reach
in the United States and turned them around in no time. Both the deals have paid off; the US now accounts for
60% of Sun's revenue. He also acquired Israel's Taro Pharma in 2007. He is also credited with steering Sun
Pharma to fifth place in the global generic drugs market.
On 19 February 2015, he surpassed Mukesh Ambani as the richest person of India, as his parent company stock
surged
