Newsletter dated 16th November, 2016

1. www.csrajivbajaj.com
THOUGHT OF THE DAY
THOUGHT OF THE DAY
“When we seek to discover the best in others, we somehow
bring out the best in ourselves.”
Law Updates:
 Disclosure of additional income during settlement didn't show that
initial offer wasn't true: Gujarat High Court.
 Banks to put indelible ink on persons exchanging old notes to avoid
multiple withdrawals.
 Refusal to provide after sales service is abuse of dominance when
co. has exclusive rights for servicing: CCI.
 Where Tribunal in assessee's own case had held that internal CUP is
always preferable to external CUP, Assessing Officer should accept
interest rate charged at LIBOR + 1 per cent on loan advanced by
assessee to its AE on basis of internal CUP, i.e., loan availed from
foreign bank: Mumbai Tribunal.
 TNM method requires comparison of net profit margin instead of
operating profit of an international transaction: Tribunal Chennai.
PROFESSIONALS INPUTS
 RBI vide Press Release No. 2016-2017/1215 dated 15th
November
2016 has advised the Urban Cooperative Banks through its Regional
Offices and the State Cooperative Banks through National Bank for
Agricultural and Rural Development (NABARD) of the need to
ensure strict compliance with the instructions issued with regard to
exchange of specified bank notes as also deposit of such notes into
the accounts of their customers.
 CBEC vide Notification No. 137/2016-Cus (NT) dated 15th
November 2016 has issued Tariff Notification in respect of Fixation
of Tariff Value of Edible Oils, Brass Scrap, Poppy Seeds, Areca
Nut, Gold and Sliver.
MARKET WATCH:
SENSEX: 26,457.26 152.63 NIFTY: 8,125.45 17.00
SILVER: 41,413.00 -3048.00 GOLD (MCX): 29,949.00 -440.00
USD/INR: 67.68 -0.06 CRUDE OIL: 2,904.00 -6.00
CS Rajiv Bajaj
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Date: 16th
November, 2016

2. www.csrajivbajaj.com
Kailash Katkar
Founder of Quick Heal Technologies
Kailash Katkar (born November 1, 1966) is a first generation Indian
entrepreneur and founder of Quick Heal Technologies.
Early life and Education
Kailash Katkar was born into a Maharashtrian family in a small village at
Rahimatpur, Maharashtra and grew up in Pune. His father was a machine setter
in electricals company Philips in Pune and his mother was a homemaker. In 1985, having barely managed to
complete his matriculation, He took up a job at a local radio and calculator repair shop in a bid to supplement
his Family Income. He relied on his interest in technical matters and learnt to repair the then popular office
gadgets such as Facit adding machines, desktop electric calculators and ledger posting machines.
Entrepreneurial Career
In 1990 Kailash Katkar finally decided to take and entrepreneurial leap and started his own calculator repair
shop with an initial seed capital of Rs 15,000 from his savings, leased a small 100 sq ft office in Pune and
started a one-man venture. In the first year he had a decent income of 45,000 in those times, but was not really
satisfied with the pace and the progress that he was making. He decided to upgrade his skills from Calculator
repairing and started reading and attending short computer courses around 1991-92.
Feeling confident enough, he decided to start his new venture known as CAT Computer Services in 1993 while
continuing with his calculator repair shop. In September 1993, He managed to breach the corporate domain by
winning the annual maintenance contract for New India Insurance, followed by another group a month later. In
the first year of inception he managed to generate a turnover of Rs 1 lakh.
Around this time, his younger brother, Sanjay Katkar, who was studying computer engineering in Pune, began
writing software programs. On his insistence, he started developing a basic model of antivirus software for CAT
Computer Services. In those days, the people involved in computer maintenance faced this problem and he
realized that there would be plenty of takers for cheap and simple computer security solutions.
Sanjay Katkar appointed some software developers in the following years and came out with a more advanced
version of the software. In the year 2002, the business had grown to a point where they could afford to buy an
office space of 2,000 sq ft in Pune for Rs. 25 lakhs. Their first branch opened in Nashik a year later and they
quickly started opening other several other branches across India. By 2005-2006, they had gone beyond anti-
virus solutions and also started focusing on increasing computer speed, mobile security and gateway level
protection. In the year 2007, they renamed their company Quick Heal Technologies and by 2010 expanded their
footprint internationally and opened their sales offices in Japan and the US.
Awards and Achievements
 On 29 July 2009 ‘'Entrepreneurs International Honors'’ for significant achievement as a first generation
entrepreneur. ‘GS Parkhe Industrial Merit Award 2009’ awarded by MCCIA (The Maratha Chamber of
Commerce, Industries and Agriculture).
 SME Channel’s Achiever’s Award 2011.
 In 2012, Felicitated with Maxell Award for Maharashtra Corporate Excellence – in the category of
Innovation by Maharashtra Chief Minister Hon’ble Shri. Prithviraj Chavan. Army Institute of
Technology's (AIT) 'Young Entrepreneurs' Award, which recognizes young entrepreneurs who stand
out from the crowd for their unique entrepreneurial spirit, innovation and exceptional progress.
 Brands Academy Entrepreneurship Excellence Award being recognized as "Entrepreneur of the Year in
IT Security ".