Newsletter dated 21st March 2017

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THOUGHT OF THE DAY
THOUGHT OF THE DAY
“Human beings, by changing the inner attitudes of their
minds, can change the outer aspects of their lives.”
Law Updates:
• SRK wins tax case; ITAT allows Rs 10 cr. deduction for securing
IPL team sponsorship for Star India: Mumbai Tribunal.
• Sec. 263 revision was justified if AO had failed to examine RBI
notification on sale of share by resident to NR: Chennai Tribunal.
• No penalty under reverse charge as assessee can claim credit of
such service tax paid : Mumbai CESTAT.
• Attribution of profits to PE depends upon role played by PE in
overall income generation: Tribunal Delhi.
• Liquidator and Reconstruction Co. could auction property in dispute
to realize their respective dues: Karnataka High Court.
PROFESSIONALS INPUTS:
• MCA vide Notification dated 17th
March 2017 has notified the
Companies (Indian Accounting Standards) (Amendment) Rules,
2017 which shall come into force on the 1st day of April, 2017.
• RBI vide Press Release No. 2016-2017/2504 dated 20th
March 2017
said that All branches of State Bank of Bikaner and Jaipur (SBBJ),
State Bank of Hyderabad (SBH), State Bank of Mysore (SBM),
State Bank of Patiala (SBP) and State Bank of Travancore (SBT)
will function as branches of State Bank of India from April 1, 2017.
• RBI vide Notification No. RBI/DPSS/2016-17/53 dated 20th
March
2017 has issued Draft Master Directions on Issuance and Operation
of Prepaid Payment Instruments in India.
MARKET WATCH:
SENSEX: 29518.74 -130.25 NIFTY: 9126.85 -33.20
SILVER: 40723.00 -14.00 GOLD (MCX): 28539.00 52.00
USD/INR: 65.36 -0.10 CRUDE OIL: 3197.00 10.00
CS Rajiv Bajaj
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Date: 21st
March, 2017

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Sulajja Firodia Motwani
Founder & CEO of Kinetic Green Energy & Power Solutions
Limited
Sulajja Firodia Motwani (born August 26, 1970) is an Indian entrepreneur and
philanthropist. She is currently the Vice Chairperson of Kinetic Engineering Limited
and Founder & CEO of Kinetic Green Energy & Power Solutions Limited. The
Kinetic Group witnessed tremendous expansion during her term. From being a mere
moped manufacturer it has set its foothold in the industry as a manufacturer offering a
complete range of two wheelers right from mopeds, scooters to motorcycles. She has recently restructured the
group to expand group activities into automotive systems and green energy. Most notably, she has founded a
company, Kinetic Green Energy and Power Solutions, that aims to be an expert in green mobility and electric
vehicles and aims to bring this technology to the masses through launch of electric autos, buggies and small
electric taxis. She is also a good friend of the famous Bollywood actress Bipasha Basu.
Early life
Sulajja was born on August 26, 1970. She completed her graduation in Commerce from Pune University in
1990. She is an MBA holder from the reputed Carnegie Mellon University at Pittsburgh. She is the
granddaughter of Late Shri H. K. Firodia, Founder of Kinetic Engineering and daughter of Padmashree Arun
Firodia, Founder & present Chairman of the Firodia Group. Throughout her studies, she has been a rank holder.
Her name appeared in the toppers list in the SSC examinations and she stopped the state in HSC examinations.
Sulajja is married to Manish Motwani and is the mother to an 11-year-old son Siddhant. She is a fitness
enthusiast and a marathon runner. She has been enthusiastic about sports especially badminton. She is also fond
of pursuing adventurous sports like skiing and scuba diving.
Career
Before joining Kinetic Motor Company, she worked for a period of four years with an investment analytics
company, BARRA International, based in California. She played a major role in setting the operations of the
Kinetic Motor Company in India. Sulajja played a major role in designing and implementing new strategies for
the company. She is also performing the role of the Director of Kinetic Motor Company and Kinetic Green
Energy limited. She is in charge of the Group`s overall business developmental activities.
Kinetic has collaborated with the well known Italian company, Italjet Moto. This acquisitions has given full
rights to the Kinetic Motor Company to launch seven new scooter models in the country. Kinetic is also
working in partnership with Hyosung Motors of South Korea. This major collaboration has led to the launching
of the most popular Kinetic Aquila and Comet.
Awards
India Today magazine honoured her by presenting her with the title of business "Face of the Millennium". It
ranked her among the top twenty five business entrepreneur of the country.
She was also presented with the Society Young Achiever`s Award for Business in the year 2002. In 2003, the
Institute of Marketing and Management bestowed her with the award for excellent performance as the woman
CEO. She also received the Young Super Achiever Award from the leading magazine "Business Today" in the
same year.
Sulajja has been selected by the World Economic Forum as a “Global Leader of Tomorrow” and “Young
Global Leader”. She was also awarded by MTV as India's Most Stylish in Business.