Newsletter dated 20th August, 2016

1. www.csrajivbajaj.com
THOUGHT OF THE DAY
THOUGHT OF THE DAY
“To be a winner, all you have to give is all you have.”
Law Updates:
 Rs. 30 lakh loan held as unexplained money as assessee failed to
show how such loan could be given without interest.
 Levy of service tax on 'manufacturing of alcohol on job-work basis'
is valid and constitutional, as service tax is levied only on service
aspect of said transaction and, therefore, same is not hit by Entry 51
of State List of Schedule VII of Constitution: Delhi High Court.
 A primary agricultural credit society whose primary object was to
provide financial help and credit facilities to its members to meet
agricultural requirements, could not be denied deduction under
section 80P.
 High Court quashed winding up plea as petitioner failed to prove
company's inability to pay debt.
PROFESSIONALS INPUTS:
 SEBI vide Circular No. SEBI/HO/CDMRD/DMP/CIR/P/2016/72
dated 19th
August, 2016 directs Exchanges not to sponsor
programmes related to price, bheviour, trading, strategy, etc.
 SEBI vide Circular No. SEBI/HO/CDMRD/DMP/CIR/P/2016/73
dated 19th
August, 2016 has clarifies on modification of client codes
post execution of trades on Commodity Derivatives Exchnages.
 RBI vide Press Release No. 2016-2017/438 dated 18th
August, 2016
has issued working group report on Corporate Bond market in
India.
MARKET WATCH:
SENSEX: 2,8077.44 -46.44 NIFTY: 8,666.90 -6.35
SILVER: 45.,577. 00 -291.00 GOLD (MCX): 31,252.00 179.00
USD/INR: 67.10 0.23 CRUDE OIL: 3,221.00 91.00
CS Rajiv Bajaj
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Date: 20th
August, 2016

2. www.csrajivbajaj.com
P.V. Sindhu
Indian Professional Badminton Player
Pusarla Venkata Sindhu (born 5 July 1995) is an Indian
professional badminton player.
P. V. Sindhu received international attention as she broke into the Top 20 in
the Badminton World Federation rankings released on 21 September 2012. On
10 August 2013, Sindhu became the first ever Indian women's singles player
to win a medal at the 2013 World Championships. On 30 March 2015, she
received India's fourth highest civilian honor, the Padma Shri. On 18 August
2016, at the 2016 Summer Olympics, she became the first Indian woman to reach the finals in the Badminton
event of an Olympic games after beating Nozomi Okuhara of Japan in the semi-finals.
Childhood & Early Training
Pusarla Venkata Sindhu was born to P. V. Ramana and P. Vijaya – both former volleyball players. In 2000,
Ramana was awarded Arjuna Award for his sport. Though her parents played professional volleyball, Sindhu
chose badminton over it because she drew inspiration from the success of Pullela Gopichand, the 2001 All
England Open Badminton Champion. She eventually started playing badminton from the age of eight.
Sindhu first learned the basics of the sport with the guidance of Mehboob Ali at the badminton courts of Indian
Railway Institute of Signal Engineering and Telecommunications in Secunderabad. Soon after she joined
Pullela Gopichand's badminton academy. While profiling Sindhu's career, a correspondent with The
Hindu wrote:
The fact that she reports on time at the coaching camps daily, travelling a distance of 56 km from her residence,
is perhaps a reflection of her willingness to complete her desire to be a good badminton player with the
required hard work and commitment.
Gopichand seconded this correspondent's opinion when he said that "the most striking feature in Sindhu's game
is her attitude and the never-say-die spirit." After joining Gopichand's badminton academy, Sindhu won several
titles. In the under-10 years category, she won the 5th Servo All India ranking championship in the doubles
category and the singles title at the Ambuja Cement All India ranking. In the under-13 years category, Sindhu
won the singles title at the Sub-juniors in Pondicherry, doubles titles at the Krishna Khaitan All India
Tournament, IOC All India Ranking, the Sub-Junior Nationals and the All India Ranking in Pune. She also won
the under-14 team gold medal at the 51st National School Games in India.
Honors
 Won Silver Medal in Olympic Games Rio 2016
 Padma Shri, the fourth highest civilian award of India. (2015)
 Arjuna Award (2013)
 FICCI Breakthrough Sportsperson of the Year 2014
 NDTV Indian of the Year 2014.
 ₹10 lakh (US$15,000) from the Badminton Association of India, for her victory in the 2015 Macau
Open Badminton Championships.
 ₹5 lakh (US$7,400) from the Badminton Association of India, for her victory in the 2016 Malaysia
Masters
 ₹1.01 lakh (US$1,500) from Salman Khan, for qualifying as an Olympic participant
.