Newsletter dated 17th March 2017

1. www.csrajivbajaj.com
c
THOUGHT OF THE DAY
THOUGHT OF THE DAY
“When we speak we are afraid our words will not be heard or
welcomed. But when we are silent, we are still afraid. So
it is better to speak..”
Law Updates:
• Provisions of Electricity Act would prevail over the Provisions of
Competition Act: CAT.
• Reshuffling of specified investment by a trust doesn't lead to denial
of sec. 11 exemption: Mumbai Tribunal.
• NCLT dismisses plea for declaring petitioner as continuing director
on ground of his failure to attend meetings: NCLT New Delhi.
• Research Co. whose advisory segment transferred to subsidiary isn't
comparable with Company providing advisory service: Mumbai
Tribunal.
• Infosys isn't comparable with assessee having meagre turnover of
Rs. 2 crores: Pune Tribunal.
PROFESSIONALS INPUTS:
• Forms CHG-1, CHG-4, CHG-9 are likely to be revised on MCA21
Company Forms Download page w.e.f. 19th March, 2017.
Stakeholders are advised to check the latest version before filing.
• RBI vide Notification No. RBI/2016-17/251 dated 16th
March 2017
has renamed the nomenclature of “Issue Reference No” generated
by e-kuber for acknowledgement for having received the amounts
under PMGKDS as “Deposit Reference No”.
MARKET WATCH:
SENSEX: 29585.85 187.74 NIFTY: 9153.70 68.90
SILVER: 40886.00 993.00 GOLD (MCX): 28491.00 407.00
USD/INR: 65.39 -0.00 CRUDE OIL: 3201.00 43.00
CS Rajiv Bajaj
9811453353
Bajajr66@gmail.com
youtube.com/csrajivbajaj
https://www.facebook.com/Rajiv
1Bajaj
http://www.csrajivbajaj.com
Date: 17th
March, 2017

2. www.csrajivbajaj.com
John S. Chen
Chief Executive Officer of BlackBerrey Ltd.
John S. Chen is a Hong Kong-born British-American businessman serving as
executive chairman and chief executive officer of BlackBerry Ltd. Previously, he
served as the chief executive officer and president of Sybase, an independent
software vendor specializing in data management, analytics, and mobility
technology. He is currently a director of Wells Fargo & Company and Walt
Disney Company.
Early life and Education
A native of Hong Kong, Chen studied at La Salle College in Hong Kong until Form 5, before going to the
United States and graduating from Northfield Mount Hermon School, a preparatory school in Northfield,
Massachusetts. He went on to graduate from Brown University in 1978 with a B.S., magna cum laude in
electrical engineering, and in 1979, with an M.S. in electrical engineering from CalTech.
Career
Chen began his career in 1979 as a design engineer with Unisys, where he eventually served as vice president
and general manager of, in turn, the Convergent RISC Platform Division and the Convergent UNIX Systems
Group. In 1991 he joined Pyramid Technology Corporation as executive vice president. Chen was elected
president, chief operating officer and a director of Pyramid in 1993, serving until 1995.
Chen next joined Siemens Nixdorf as a vice president in 1995. He was promoted to president and chief
executive officer of Siemens Nixdorf's Open Enterprise Computing Division in 1996.
Chen became CEO of Sybase in 1998. As John Gallant and Eric Knorr noted in IT World, Sybase had been a
strong competitor of Oracle, but had become a "dead company" after failing to enter the market for enterprise
applications, as Oracle had; Chen and his team proceeded to reinvent Sybase as an "enabler of the 'unwired
enterprise'".In so doing, Chen and his team led a re-invention strategy that moved the mature, slower growth
technology company into being a high-growth innovator, valued at US $6B in 2010. This involved improving
its balance sheet and returning Sybase to profitability, including by leveraging its existing database knowledge
to create new products to address the emerging markets for analytics and mobility. Sybase achieved strong
financial performance and shareholder returns under Chen’s leadership, including 55 consecutive quarters of
profitability, $2.8 billion of cash generated, and a 28 percent compound annual growth rate of its market
capitalization (from a low of $362 million to $5.8 billion through 2010). Sybase was acquired in 2010 by SAP
AG.
Awards
Chen has been an invited member, since 1997, of the Committee of 100 (C-100) organisation of "Extraordinary
Chinese Americans."
The Brown University School of Engineering awarded Chen its Brown Engineering Alumni Medal (BEAM) in
2003. In July 2007, Sybase announced that Chen, its CEO, had been awarded the Ernst & Young Entrepreneur
of the Year for Northern California.
Chen has also received awards from the US-Asia Institute (2009), the U.S.-China Policy Foundation, and the
California-Asia Business Council (2007). In addition, the U.S.-Pan Asian American Chamber of Commerce
Education Foundation has recognized Chen for his corporate board work.