Newsletter dated 12th November, 2015

1. www.csrajivbajaj.com
THOUGHT OF THE DAY
THOUGHT OF THE DAY
“If you don’t have confidence, you will always find a way
not to win”
Law Updates:
 ICAI issues Draft Guidance Note on Depreciation under the Companies
Act, 2013 and the same is open for public comments till November 25,
2015.
 Dr. Raghuram Rajan, Governor of the Reserve Bank of India, was elected
as the Vice-Chairman, the Board of Directors of the Bank for International
Settlements (BIS), at its meeting in Basel for a period of three years from
November 10, 2015.
 The government is working on a detailed plan to tackle bad loans at public
sector banks that curtail their ability to lend and stifle private investment,
thus posing a significant threat to the broader Indian economy.
 CBDT has constituted a Committee to deal with taxpayers’ grievance from
high pitched assessments.
 Interest income of finance company is not taxable as other sources of
income if it was held as business income in earlier years: IT
PROFESSIONALS INPUTS:
 SEBI vide Circular No. CIR/CFD/POLICYCELL/11/2015 dated 10
November, 2015 issued operational details to streamline the process of
Public Issue of Equity Shares and Convertibles.
 RBI vide Notification No. RBI/2015-16/233- DGBA.GAD.No.
1636/31.12.010/2015-16, dated 10th
November, 2015 has notified new
format for certification of agency commission claims by external auditors
(Chartered Accountants).
 CBEC vide Circular No. 187/6/2015- Service Tax dated 10th
November,
2015 has fixed a timeline for 80% payment of the total amount claimed for
refund.
MARKET WATCH:
SENSEX: 25866.95 123.69 NIFTY: 7825.00 41.65
SILVER: 34190.00 -82.00 GOLD (MCX): 25471.00 -111.00
USD/INR: 66.31 -0.14 CRUDE OIL: 2892.00 -49.00
CS Rajiv Bajaj
9811453353
Bajajr66@gmail.com
youtube.com/csrajivbajaj
https://www.facebook.com/Rajiv
1Bajaj
http://www.csrajivbajaj.com
Date: 12th November, 2015

2. www.csrajivbajaj.com
KALLAM ANJI REDDY,
Former Chairman, Dr. Reddy's Laboratories
“He was a rare combination of a great scientist, entrepreneur, philanthropist
and a humanitarian. Passionate about science, compassionate to the core and
a true practitioner of giving,”
- Dr GN Rao, founder of LV Prasad Eye Institute in Hyderabad
Anji Reddy is an Indian Industrialist and Entrepreneur in the pharmaceutical industry.He
founded Dr Reddy’s Labs in 1984 and serves as its Chairman. And the chairman of Dr
Reddy's Foundation (DRF), the corporate social responsibility arm of the group, established 1996. He was known for his
significant contribution in making pharma products globally competitive and ensuring that medicines were affordable to
the common man. He was especially recognised for his passion in leveraging genuine technological interventions and
making active pharmaceutical ingredients (API) and formulations effective by getting out medicines into the market in the
shortest possible time.
Early life:
He was Born on 02/01/1939 in Tadepalli Village, Guntur district, Andhra Pradesh. His father was a farmer who grew
Turmeric. He did his schooling at Anapthana ZPHS School in Nutakki until tenth standard. Dr Kallam Anji Reddy did his
B.Sc in Pharmaceuticals and Fine chemicals from Bombay University and subsequently completed his PhD in Chemical
Engineering from National Chemical Laboratory, Pune, in 1969.
Career Profile:
Dr. K. Anji Reddy served in PSU Indian Drugs and Pharmaceuticals Limited from 1969 to 1975. Dr. Reddy was the
founder-Managing Director of Uniloids Ltd from 1976 to 1980 and Standard Organics Limited from 1980 to 1984.
In 1984, Dr. K. Anji Reddy founded Dr. Reddy's Laboratories and soon the company established new benchmarks in the
Indian Pharmaceutical industry. Dr. Reddy's Laboratories transformed Indian bulk drug industry from import-dependent in
mid-80s to self-reliant in mid-90s and finally into the export-oriented industry that it is presently. In 1993, Dr. Reddy's
became the first company to take up drug discovery research in India and in April 2001 it became the first non-Japanese
Asian pharmaceutical company to list on NYSE. By the end of fiscal year 2005, Dr. Reddy's Laboratories was India's
second largest pharmaceutical company and the youngest among its peer group, the revenue of the company being $546
million.
Dr. Reddy has served as a member of the Global Alliance for Improved Nutrition, Switzerland and the Prime Minister's
Council on Trade & Industry, Government of India, and was nominated to the Board of National Institute of
Pharmaceutical Education and Research (NIPER).
Philanthropy:
Dr. K. Anji Reddy was also a philanthropist. He was the founder-Chairman of Dr. Reddy's Foundation for Human & Social
Development, a social arm of Dr. Reddy's, which acts as a catalyst of change to achieve sustainable development.
Awards & Recognitions:
Dr. K. Anji Reddy has received many awards and honours. These include Sir PC Ray award (conferred twice, in 1984 and
1992); Federation of Asian Pharmaceutical Associations (FAPA)'s FAPA-Ishidate Award for Pharmaceutical Research in
1998; leading business magazine Business India voted him Businessman of the Year in 2001; CHEMTECH Foundation
bestowed on him the Achiever of the Year award in the year 2000 and the 'Hall of Fame' award in 2005, for his
Entrepreneurship, Leadership and thrust on Innovation; and in 2001, he was awarded the Padma Shri by the Government of
India
Sad Demise:
The 72-year-old was an acknowledged pioneer in reverse engineering and held in esteem among the scientific community
dealing with pharmaceuticals. He died on 15 March 2013 in Hyderabad, Andhra Pradesh.