Newsletter dated 28th January, 2017

1. www.csrajivbajaj.com
THOUGHT OF THE DAY
THOUGHT OF THE DAY
“Start by doing what's necessary; then do what's possible; and
suddenly you are doing the impossible.”
Law Updates:
 No Surcharge and EC on 20% TDS rate given under Sec. 260AA:
Delhi Tribunal.
 Payment made for supply of software embedded in mobile phones
couldn’t be taxed as royalty.
 Rebate of duty won't be treated as time barred when delay is on part
of department to issue shipping bills.
 Detention order shall survive even when one of the grounds isn't
sustainable: Supreme Court.
Professional INPUTS
 MCA vide Notification dated 25th
January 2017 has notified the
Companies (Incorporation) Amendment Rules, 2017 which shall
come in force from 30th
January 2017, it states that the Certificate of
Incorporation issued by Registrar of Companies shall mention PAN
of the Company.
 SEBI vide Circular No. SEBI/HO/MRD/DSA/CIR/P/2017/9 dated
27th
January 2017 has issued Procedures for Exchange Listing
Control Mechanism for listing of stock exchange on any recognised
stock exchange, other than itself, and also to ensure effective
compliance with the applicable laws.
 CBEC vide Notification No. 02/2017-Cus dated 27th
January 2017
has seeks to further amend Notification No. 96/2008-Customs, dated
13.08.2008.
MARKET WATCH:
SENSEX: 27,882.46 174.32 NIFTY: 8,641.25 38.50
SILVER: 40,543.00 -460.00 GOLD (MCX): 28,696.00 -396.00
USD/INR: 68.08 -0.07 CRUDE OIL: 3,625.00 0.00
CS Rajiv Bajaj
9811453353
Bajajr66@gmail.com
youtube.com/csrajivbajaj
https://www.facebook.com/Rajiv
1Bajaj
http://www.csrajivbajaj.com
Date: 28th
January, 2017

2. www.csrajivbajaj.com
Cyril Shroff
Managing Partner of Cyril Amarchand Mangaldas
Cyril Suresh Shroff is an India corporate lawyer. He is the Managing
Partner of Cyril Amarchand Mangaldas and used to be the Managing
Partner of Amarchand & Mangaldas & Suresh A Shroff & Co, India's
largest and foremost law firm.
Personal Life
Cyril is the son of Suresh Shroff, who was the former managing partner of
Amarchand Mangaldas. Cyril's grandfather Amarchand Shroff started Amarchand Mangaldas in 1917.
Cyril is married to Vandana Shroff, who is also a partner in Cyril Amarchand Mangaldas. He has two
children, Rishabh and Paridhi. Rishabh is married to Saloni Shroff. Paridhi is married to Karan Adani,
son of Gautam Adani, chairman and founder of the Adani Group
Education
Cyril was admitted to the Bar in 1982 after receiving his B.A., LLB degree from the Government Law
College, Mumbai. He is a Solicitor, High Court of Bombay, since 1983.
Work
After the death of Suresh Shroff, Cyril took control of the Mumbai operations of the Amarchand
Mangaldas at the age of 35. He slowly rose to being a favoured adviser to the India's corporate
elite. Cyril has consistently advised on the most prominent business deals happening in post
liberalisation India. His prominent deals include the work done with Ethiad Airways, Reliance
Industries, Wipro, Diageo, Piramal Enterprises, Warburg Pincus, Essar Energy, Standard
Chartered, BNP Paribas, etc.
With the quality and range of work undertaken by his firm, Cyril has developed expertise in corporate
laws, securities markets, banking, infrastructure and others. Cyril has been regarded and consistently
rated as India's top corporate, banking and project finance lawyer by several international surveys,
including those conducted by International Financial Law Review (IFLR), Euromoney, Chambers
Global, Asia Legal 500, Asia Law and others.
Other Activities
Cyril is a member of the Advisory Board of the Centre for Study of the Legal Profession established
by the Harvard Law School, a member of the Advisory Board of the National Institute of Securities
Markets and on Board of IIM Trichy. He is an advisory member of the Finance Planning Standard
Board of India (FPSB India) and Macquarie.
He is a member of the Media Legal Defence Initiative (MLDI) International Advisory Board. Cyril is
also part of various committees of the Confederation of Indian Industry - the National Council on
Corporate Governance, the National Committee on Capital Markets, Private Equity & Venture Capital,
Commodities Markets, Financial Investors and Regulatory Affairs