Newsletter dated 24th February, 2015

1. www.csrajivbajaj.com
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THOUGHT OF THE DAY
“Perseverance is a positive, active characteristic…”
Law Updates:
 Public sector banks will remain closed on second and fourth Saturdays,
according to an agreement reached between apex body of bank
managements IBA and employee unions.
 New Website of National Pension System Trust Launched to Provide
Proper and Effective Information Dissemination to the Stakeholders and
Provide Ease of Access to Various Beneficiaries Under NPS.
 Amid a major crackdown on the alleged leak of classified official
documents at the behest of corporate groups, the Securities and Exchange
Board of India (SEBI) is looking into whether such leaks were used to
push up or pull down the share prices of listed companies.
 Income Tax officials have started a survey at the Mumbai office of HSBC
India and served a notice to the bank, four years after such a move was
stalled by the previous UPA government.
PROFESSIONALS INPUTS:
 The Auditing & Assurance Standards Board of ICAI has issued the 2015
Guidance Note on Audit of Banks. The Guidance Note provides an insight
into the banking industry in India and how they carry out their day to day
functions.
 Listed Companies to Submit Revised Corporate Governance Report from
Quarter Ending on 31st December 2014 and Onwards.
 The International Accounting Standards Board (IASB) has published
Exposure Draft of proposed amendments to IAS 1 Presentation of
Financial Statements for comment only. Comments on the Exposure Draft
need to be received by May 10, 2015.
 In Jay Balaji Jyoti Steels Ltd. v. Customs, Excise & Service Tax
Appellate Tribunal, Kolkata (2015) 54 taxmann.com 176 (Orissa),
Orissa High Court rules that Addition of 'speed post' as valid mode of
service is clarificatory and retrospective in nature.
MARKET WATCH:
SENSEX: 28936.76 -38.35 NIFTY:8743.20 -11.75
SILVER:36355.00 156.00 GOLD (MCX): 26161.00 8.00
USD/INR: 62.26 -0.06 CRUDE OIL: 3104.00 8.00
CS Rajiv Bajaj
9811453353
Bajajr66@gmail.com
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Date: 24thFebruary, 2015

2. www.csrajivbajaj.com
Krishnamurthi Venkataramanan
Chief Executive Officer & Managing Director,
Larsen & Toubro
“Mr. K. Venkataramanan has been associated with L&T with over four decades in various
positions of responsibility. A graduate in Chemical Engineering from IIT, Delhi, he joined
L&T in 1969. After a series of successful assignments, he was elevated to the Board of
Directors of the Company in May, 1999, and appointed Chief Executive Officer and
Managing Director on April 1, 2012.”
Early Life
K Venkataramanan is the whole-time director and president (hydrocarbon), Larsen & Toubro, one of the most admired
companies in India. This business caters to engineering, procurement, construction and project management in the sectors
of oil and gas offshore installations, refineries and petrochemicals, chemical plant and systems, gas processing and
fertiliser sectors. He is a chemical engineer from IIT Delhi with specialisation abroad in design and engineering and is a
distinguished alumni awardee of IIT Delhi in 2005.
Career Perspectives:
Mr. Venkataramanan is credited with helping in the transformation of L&T from a fabrication-driven EPC contractor to a
technology led player. He also laid the foundations for project engineering & execution as well as conceptualized and
designed the water front load-out facility at Hazira, Surat for large offshore platforms.
Early in his career, he was deputed for specialised training to Denmark in product engineering & plant design, and to the
USA for process engineering (1973). In 1983, he took over as Head of Special Fabrication Shops, Production Engineering
and Plant Engineering. Later, he was instrumental in developing L&T's extensive capabilities in the 3D CAD design and
integrated project management. L&T’s Centers of Engineering Excellence for the hydrocarbon sector (L&T Chiyoda) and
the power sector (L&T Sargent & Lundy) as also the Company’s process design capability through a Front End
Engineering Design group are largely the result of Mr. Venkataramanan’s initiatives and direction.
Other professional landmarks include playing a leadership role in L&T’s Power business initiative through EPC jobs in gas
and coal based power plants including Balance of Plant in India and abroad. Mr. Venkataramanan implemented Real Time
Strategic Change (RTSC) processes in the Company for high performance team building. He introduced various business
solutions such as global sourcing, skill building, risk management, benchmarking, contracts management, and intense
monitoring of value drivers encompassing financial and operational parameters. Seeking to bolster the Company’s
international presence, Mr. Venkataramanan formed a dedicated International Business Development Cell. Under his
leadership, L&T’s project teams successfully executed high technology projects in Qatar, Saudi Arabia, Malaysia, Kuwait,
Oman and Sri Lanka. IT-enabled Engineering Services Centers established by him also contributed to tapping global
opportunities.
Achievements so far:
He is a Distinguished Alumni Awardee of IIT Delhi in 2005. He is the first Asian to be appointed Chairman of the Board
of Directors of the ‘Engineering & Construction Risk Institute, Inc.’, USA for a two year term ending in May 2010. He is
an Honorary Fellow of the Institute of Chemical Engineers (IChemE), UK – the second Indian to receive this recognition
from the world’s most reputed body in chemical engineering space. He is also a Fellow of the Indian Institute of Chemical
Engineers, and currently the Chairman of the Capital Goods Committee of FICCI.
Mr. Venkataramanan has received recognition at both the national and international levels. Accolades include the
‘Davidson Frame Award’ conferred by IPMA, Switzerland, for strengthening the Project Management Profession in India
and abroad - 2002. He was honoured with ‘Chemtech – Business Leader of the Year’ award for plant & machinery - 2005;
and the ‘Lala Shriram Award for Leadership in Chemical Industry’ - 2006In May 2011, he was conferred an Honorary
Doctorate in Project Management by the University of Petroleum & Energy Studies (UPES) Dehradun. The Association of
Business Communicators of India (ABCI), India’s largest body of professional communicators, presented Mr.
Venkataramanan the ‘Global Business Communicator Award’ in November 2011 for his charismatic ability to reach out to
people, and transmit thought and idea to diverse target groups.