Newsletter dated 14th July, 2015

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THOUGHT OF THE DAY
THOUGHT OF THE DAY
“Confidence comes from discipline and training.....”
Law Updates:
 Top bourse BSE has issued notices to 530 companies with regard to
imposition of fines for not complying with Sebi norms to appoint at
least one woman director on their respective boards within the
prescribed timelines. The listed companies complying between July 1
and September 30 this year would need to pay Rs 50,000 and an
additional Rs 1,000 per day till compliance. The listed companies
complying on or after October 1, 2015 will have to pay Rs 1.42 lakh, plus
Rs 5,000 per day till the date of compliance.
 Vide Notification ref 02/2015 dated 13.07.2015 issued by CBDT and
with a view to provide relief to taxpayers, the government on Monday
put in place a new system of e-filing of returns using a 10-digit
electronic verification code (EVC) or one-time password (OTP) that can
be generated using net banking, ATMs, Aadhaar, your registered mobile
as well as the income tax department's website.
PROFESSIONALS INPUTS:
 Vide Circular No- 10/2015 dated 13.07.2015 issued by MCA,
clarification regarding Relaxation of additional fees and extension of
last date of in filing of forms MGT-7 (Annual Return) and AOC-4
(Financial Statement) under the Companies Act,2013 has been
provided.
 Vide Notification 01/2015 dated 10.07.2015 issued by CBDT, The date
for filing ITR-V for returns e-Filed for A.Y 2013-14 (filed on or after 1st
April 2014 till 31st March 2015) and for A.Y 2014-15 (filed on or after
1st April 2014 till 30th June 2015) extended till 31st October 2015.
 Vide Circular No 14 dated 07.07.2015 issued by DVAT, it is clarified
that department proposes to further streamline the matching of
Annexure 2A and 2B. f all stakeholders are invited upto 20/07/15
before finalization of the same( As Directed by CLAT)
 Vide Circular No. CIR/MRD/DP/14/2015 dated-July 13, 2015 issued by
SEBI, Review of minimum contract size in Equity Derivatives Segment
and it has been decided to increase the minimum contract size in equity
derivatives segment to Rs. 5 lakhs.
MARKET WATCH:
SENSEX: 27874.53 -86.66 NIFTY: 8432.35 -27.30
SILVER: 35356.00 -171.00 GOLD (MCX): 25996.00 -28.00
USD/INR: 63.52 -0.01 CRUDE OIL: 3274.00 -76.00
CS Rajiv Bajaj
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Date: 14th July, 2015

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IRA SINGHAL,
IAS Topper
“No matter how tough the situation, you still have to hang on…”
Ira Singhal is no ordinary woman. The 31-year-old recently topped India's
prestigious and tough civil services examination - one that many fail to
pass even after many attempts.
In a land obsessed with these three magical alphabets – i.e. I A S – the
name of Ira Singhal has become a chart-buster! She is the committed,
dedicated and hard-working girl who is the topper of the 2015 IAS
examination. Ira Singhal’s success, to the layman, would seem a miracle.
But, miracles do not merely fall from the sky. As the saying goes, God helps those who help themselves!
EARLY LIFE AND CAREER:
Ira is thirty one years old and she has cleared this prestigious, tough examination not once but twice.
Moreover, she is suffering from scoliosis – i.e. curvature of the spine. It is often easy to be strong when the
going is smooth. But, true strength lies in not giving up when the going gets tough.
Despite her disability, Ira persevered – and the results left the entire nation spellbound! When she cleared
the examination the first time, she was rejected – she had qualified for becoming an Indian Revenue
Services Officer but due to her deformed spine, and the fact that she has difficulty moving her arm, she was
denied her due. But this rejection did not deter her at all. Instead, it motivated her enough to attempt the
examination again.
Herein lies the motivational lesson for us – it is easy enough to swim with the tide, but it is hard as hell to
swim against the tides, especially when they are rough and tumultuous. Also, she did not take the rejection
lightly – she fought for two years, underwent a series of medical tests and proved to the authorities
concerned that she can easily perform the tasks that her job as a Revenue Officer require. An average
person would have merely given up, but not Ira!
It is not as if Ira got lucky and cleared the IAS examination twice. Her career graph is an
example of her stellar performance – she graduated and completed BE from the reputed
Netaji Subhas Institute of Technology and she completed her post-graduation, MBA
Marketing & Finance from the coveted Faculty of Management Studies, University of Delhi.
She has been a brilliant student throughout. She is also fluent in the Spanish language.
She has also taught Spanish for a year, has been a manager in Cadbury India and a marketing intern in
beverage giant The Coca Cola Company. The Delhi girl is currently posted as Assistant Commissioner in
the Customs & Excise department of the Indian Revenue Services, but will likely move to an IAS posting
soon.
Besides being so highly qualified, Ira Singhal is also a very down-to-earth and humble human being. She is
not egoistic or greedy. She herself stated recently that she is not chasing monetary gains. She is a human
being in the true sense of the word – she believes in helping others in need – though she herself is
differently abled.
BRAND AMBASSADOR:
Additionally, to confer honour upon this braveheart, the Union Minister of Social Justice and
Empowerment Thaawar Chand Gehlot suggested making Ira Singhal the brand ambassador for the
initiatives and schemes of the Department of Empowerment of Persons with Disabilities.
She does not seek pity for her condition, but she tries to ensure that others like her, who are
differently-abled, do not lag behind in the race to chase their dreams…!!!
SUCCESS MANTRA…!!!
 Her courage and determination has proved that no one can stop you from
achieving what is meant for you, all it requires is just the hard-work and
perseverance.