Newsletter dated 22nd April, 2015

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THOUGHT OF THE DAY
“The art of life is to know how to enjoy a little and to endure
much....”
Law Updates:
 The Reserve Bank of India (RBI) appoints NSE Vice-Chairman Ravi
Narain member of its External Advisory Committee (EAC) for small
finance banks. (Press Release : 2014-2015/2222)
 The Income Tax Department was awarded 'Prime Minister's award for
excellence in Public Administration' for 'Easy Tax Compliance through
Quality Service'.
 Government Decides to Fix Interest Rates at 8.7% for GPF and other
Similar Funds Including Special Deposit Scheme, 1975(SDS,1975) for
Non-Government Provident, Superannuation and Gratuity Funds for
the Financial Year 2015-16.
 The Securities and Exchange Board of India (SEBI) will put in place a
stricter regulatory regime for commodity derivative participants after
the Forward Markets Commission (FMC) is merged with it. The new
regime will prescribe separate registration for commodity participants.
PROFESSIONALS INPUTS:
 Vide Notification No. SEBI-NRO/OIAE/GN/2015-16/002 dated
21.04.2015 issued by SEBI, Securities and Exchange Board of India
(Employees' Service) (Second Amendment) Regulations, 2015 has been
issued whereby employee are asked to make a declaration of his assets
and liabilities.
 Vide Notification No. 22/2015- Central Excise dated 17th April, 2015
issued by CBEC, Govt. grants excise duty exemption on machinery
supplied for setting up of power project of 'Rattan India Power Ltd'.
 Now insurance broker shall be deemed as person carrying designated
business or profession under money laundering Act.(Notification No
2/2015, Ministry of Finance, Department of Revenue)
 E-TDS/TCS File validation utility (FVU) version 2.142 from FY 2007-
08 to FY 2009-10 and 4.6 from FY 2010-11 and onwards released
(20/04/2015).
MARKET WATCH:
SENSEX: 27762.27 86.23 NIFTY:8393.55 15.80
SILVER:36040.00 -117.00 GOLD (MCX): 26851.00 -85.00
USD/INR: 62.76 -0.11 CRUDE OIL: 3543.00 -50.00
CS Rajiv Bajaj
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Date: 22nd April, 2015

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Keshub Mahindra
Former Chairman, Mahindra Group
EARLY LIFE & CAREER:
Keshub Mahindra was born on 9 October 1923 (age 91) is a graduate of
Wharton University Pennsylvania, USA.
He joined Mahindra & Mahindra in 1947 and became Chairman in 1963.
Although he stepped down from the chairmanship in 2012, he was
requested to accept the Office of Chairman Emeritus and still continues to be involved with the activities of the
company today and has literally been the backbone of the company.
He is a well-known philanthropist who has redefined good corporate governance. From building ethical corporate
organizations in India to serving on prestigious boards and committees, his immense contribution to Indian business
has established him as an inspirational business leader and an iconic corporate citizen. He was been appointed by the
Government of India to serve on many Committees including the Sachar Commission on Company Law & MRTP and
the Central Advisory Council of Industries. In 1987, he was awarded the Chevalier de l’Ordre National de la Legion
d'Honneur by the French Government. From 2004 to 2010, he was a Member of the Prime Minister’s Council on
Trade & Industry, New Delhi.
Mr. Mahindra is a member of the Apex Advisory Council of ASSOCHAM and is President Emeritus of the Employers’
Federation of India. He also served as the President of the Governing Council of the University of Pennsylvania,
Institute for the Advanced Study of India, New Delhi. He is an Honorary Fellow of the All India Management
Association, New Delhi, and a Member of the Council of the United World Colleges (International) in the United
Kingdom.
He is presently amongst others on the Board of Directors of the following companies:-
 Chairman of the Board of Governors, The Mahindra United World College of India
 Chairman, Tech Mahindra Foundation
 Chairman, Mahindra Holdings Limited
 Director, Bombay Burmah Trading Corporation Limited
 Director, Bombay Dyeing & Manufacturing Co. Limited
He has also served on several Boards and Councils in both the private and public domain, including SAIL, Tata Steel,
Tata Chemicals, Indian Hotels, IFC and ICICI. Mr. Mahindra was also the Founder Chairman of HUDCO (Housing
and Urban Development Corporation Limited); Vice Chairman of Housing Development Finance Corporation and
Mahindra Ugine Steel.
AWARDS & ACCOLADES
 1972-82 Giants International Business Leadership Award
 1980 NIF-Mody Enterprises Man of the Year Award
 1983 Madras Management Association Business Leadership Award
 1985 Companion - British Institute of Management
 1993 Vikas Jyoti Award for Outstanding Services, Contribution & Achievements
 1994 FIE Foundation - Rashtra Bhushan Award
 1994 The Sir Jehangir Ghandy Medal for Industrial Peace - XLRI, Jamshedpur
 1996 Rotary Vocational Excellence Award in the field of Industry
 1998 IMC Diamond Jubilee Endowment Trust Award
 2000 Motorindia Automan Award
 2008 CNBC TV 18 India Business Leaders Lifetime Achievement Award 2008
 2009 ACMA Lifetime Achievement Award
 2009 Economic Times Lifetime Achievement Award
 2012 Employers’ Federation of India (EFI) Lifetime Achievement Award
 2013 Citation of honour from SIAM/ACMA for valuable contribution to the Indian Automotive
Industry in India
 2014 Lifetime Achievement Award from ASSOCHAM (The Associated Chambers of Commerce and
Industry of India)