Shiv Nadar is an Indian industrialist and philanthropist who founded HCL in 1976 and transformed it into a major global IT company. He has a personal wealth estimated at $13.7 billion. Through his Shiv Nadar Foundation, Nadar focuses on developing India's educational system. Some of his notable awards include the Padma Bhushan in 2008 for his contributions to the IT industry and being named the E&Y Entrepreneur of the Year in 2007.

1. www.csrajivbajaj.com
THOUGHT OF THE DAY
THOUGHT OF THE DAY
“Though nobody can go back and make a new beginning.
Anyone can start over and make a new ending.”
Law Updates:
 SEBI through FAQs on SEBI (Share Based Employee Benefits)
Regulations, 2014 dated 20th
November, 2015 has clarified that
Independent Directors can exercise ESOPs if granted prior to
commencement of new ESOP norms.
 Government plans to phase out corporate tax exemptions and
deductions. The details of proposed phasing out of deductions are
available on the website of the department at
http://www.incometaxindia.gov.in/news/finance-ministers-budget-
announcement-20-11-2015.pdf.
 Government has constituted two new regional benches of CESTAT
at Chandigarh and Hyderabad .
PROFESSIONALS INPUTS:
 IRDA vide Notification No. IRDAI/Reg/20/110/2015 dated 13th
November, 2015 notified Insurance Regulatory Development
Authority of India (Other Forms of Capital) Regulations, 2015.
 IRDA has issued Guidance on Indian Owned and Controlled for
Insurance Intermediaries vide Ref No. IRDA/INT/CIR/ORD/208
/11/2015 and ask the intermediaries to file the compliance
requirements in 3 months.
 CBEC vide Notification No. 52/2015-Customs dated 20th
November, 2015 seeks to further amend Notification No 12/2012 -
Customs dated 17.03.2012 so as to withdraw the TRQ of 15,000
MT for total imports of white butter, butter oil and anhydrous milk
fat(AMF) at Nil import duty by omitting the said entry(S.No.9).
MARKET WATCH:
SENSEX: 25908.44 39.12 NIFTY: 7873.00 16.45
SILVER: 33416.00 -173.00 GOLD (MCX): 25170.00 -73.00
USD/INR: 66.16 0.05 CRUDE OIL: 2748.00 -85.00
CS Rajiv Bajaj
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1Bajaj
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Date: 23rd
November, 2015

2. www.csrajivbajaj.com
SHIV NADAR
Founder and Chairman of HCL and the Shiv Nadar
Foundation
"If you want to empower people, give them the tools. There's enough
entrepreneurship in this country to take care of the rest."
Shiv Nadar is an Indian industrialist and philanthropist. He is the founder
and chairman of HCL and the Shiv Nadar Foundation. As of 2015, his
personal wealth is estimated at $13.7 Billion. Nadar founded HCL in the
mid-1970s and transformed the IT hardware company into an IT Enterprise over the next three decades by constantly
reinventing his company's focus. In 2008, Nadar was awarded Padma Bhushan for his efforts in the IT industry.
Nadar, nicknamed by friends as Magus (Old Persian for Wizard), since mid-1990s has focused his efforts in
developing the educational system of India through the Shiv Nadar Foundation. Shiv Nadar is the brother of famous
tamil novelist Ramanichandran.
Early life
Nadar was born in 1945 in Moolaipozhi village, about 10 kilometres from Tiruchendur in Thoothukudi district
(present), Tamil Nadu, India. His parents were Sivasubramaniya Nadar and Vamasundari Devi. Nadar's mother,
Vamasundari Devi, is the sister of S. P. Adithanar, founder of Dina Thanthi newspaper.
Nadar studied at Town Higher Secondary School, Kumbakonam. He got admission in the first form (Sixth Standard)
on 29 June 1955 and continued his education in Town High School till 1 June 1957. Nadar received a pre-University
degree in The American College, Madurai and degree in Electrical And Electronics Engineering from PSG College
of Technology, Coimbatore.
Career
Nadar began his career at Walchand group's Cooper Engineering in Pune in 1967. He soon gave it up to begin his
own venture, in partnerships with several friends and colleagues. These partners were Ajai Chowdhry (Ex-Chairman,
HCL Infosystems), Arjun Malhotra (CEO and Chairman, Headstrong), Subhash Arora, Yogesh Vaidya, S. Raman,
Mahendra Pratap and DS Puri.
The initial enterprise which Nadar and his partners began was Microcomp, a company which focused on selling
teledigital calculators in the Indian market. HCL was founded later, in 1976, with an investment of Rs. 187,000.
In 1980, HCL ventured into the international market with the opening of Far East Computers in Singapore to sell IT
hardware. The venture reported Rs 1 million revenue in the first year and continued to address the Singapore
operations. Nadar remained the largest shareholder without retaining any management control.
Awards and accolades
In 2008, Government of India awarded Nadar with Padma Bhushan, the third highest civilian award, for his
contribution to IT industry.
In 2007, Madras University awarded him honorary doctorate degree (D Sc) for his contributions in promoting
software technology. Nadar was also recognised as E&Y Entrepreneur of the Year 2007 (Services).
In 1995 he became the Dataquest IT Man of the year. In 2005 he was bestowed with CNBC Business Excellence
Award. In 2006 received an Honorary Fellowship of All India Management Association-AIMA. In 2009 he was
counted amongst Forbes 48 Heroes of Philanthropy in Asia Pacific. In 2010 received Dataquest Lifetime
Achievement Award.