Newsletter dated 28th July, 2016

1. www.csrajivbajaj.com
THOUGHT OF THE DAY
THOUGHT OF THE DAY
“While always looking for the good in others, you will find
the good in yourself.”
Law Updates:
 Considering legislative intent behind amendment made by Finance
(No. 2) Act, 2014 fixing pre-deposit requirement at 7.5 or 10 per
cent of duty/tax for appeals filed on or after 6-8-2014, High Court
reduced pre-deposit to 15 per cent of duty in case of an appeal filed
before 6-8-2014: Rajasthan High Court.
 Prepayment charges on home loans are deductible as 'interest' under
Sec. 24(b): Mumbai ITAT.
 Company eForms AOC-4, INC-27, and MR-1 are likely to be
revised on MCA21 Company Forms page on 28th July 2016.
Stakeholders are advised to check the latest version before filing.
 LLP Forms Form 2, Form 2A, Form 3, Form 4, Form 4A and Form
11 are likely to be revised on MCA21 LLP Forms Download page
w.e.f 28th July 2016. Stakeholders are advised to check the latest
version before filing
PROFESSIONALS INPUTS:
 CBEC vide Circular No. 1045/33/2016-CX dated 26th
July, 2016
has clarified that all jewelry manufactured or removed from the
factory or from the premises of job worker on or before 29th
day of
February, 2016 shall not be liable to excise duty.
 CBEC vide Circular No. 1044/32/2016-CX dated 26th
July, 2016
issued guidelines for issue of summons, visits, search, seizure,
arrest and prosecution regarding manufacturers or principal
manufacturers of articles of jewellery or parts of articles of
jewellery or both.
MARKET WATCH:
SENSEX: 28,024.33 47.81 NIFTY: 8,615.80 25.15
SILVER: 45,980. 00 -95.00 GOLD (MCX): 30,777.00 13.00
USD/INR: 67.18 -0.18 CRUDE OIL: 2,891.00 -9.00
CS Rajiv Bajaj
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Date: 28th
July, 2016

2. www.csrajivbajaj.com
B. Ravi Pillai
Founder- RP Group of Companies
B. Ravi Pillai (born 2 September 1953) is an Indian entrepreneur and the
head of RP Group of companies. A recipient of the 2008 Pravasi
Bharatiya Samman, Pillai was honored again by the Government of
India, in 2010, with the fourth highest Indian civilian award of Padma
Shri.
Early life and education
Ravi Pillai was born on 2 September 1953 at Chavara, a coastal town in
Kollam, in the South Indian state of Kerala in a family of farmers. After
graduating from a local college, he continued his studies in Business
Administration at Cochin University.
Carrer
During his time at Cochin University, he launched his first business, a chit fund in Kollam on reportedly
borrowed money. Later, he started engineering contract business and worked for some of the major industrial
houses in Kerala such as Fertilisers and Chemicals Travancore Limited, Hindustan Newsprint Limited,
and Cochin Refineries. However, a labour strike forced him to close down his business after which he went to
Saudi Arabia in 1978 where he started a small trading business. Two years later, he moved to construction
business and established Nasser Al Hajri Corporation with 150 employees,]
which has over the years grown to
become the flagship company of his business group, R. P Group, which is known to employ over 70,000
employees across its businesses. The shopping mall in South Kerala, RP Mall at Kollam city is owned by Ravi
Pillai.
Pillai has expanded his business to other countries such as United Arab Emirates, Qatar, Bahrain and India and
has interests in construction, hospitality, steel, cement, and oil and gas industries. RP Group is known to hold
stakes in hotels such as Leela Kovalam, Hotel Raviz, Kollam, and WelcomHotel Raviz Kadavu, Kozhikode in
his home state of Kerala. He is also involved in health care business through Upasana Hospital and Research
Centre, a 300 bed multispecialty hospital in Kollam
Awards and recognition
Ravi Pillai, who holds a doctoral degree (Honoris Causa) from the Excelsior College, New York, was awarded
the Pravasi Bharatiya Samman by the Government of India in 2008. Three years later, in 2010, the Government
of India included him in the Republic Day honours list for the civilian honour of Padma Shri.
Forbes listed him, in 2014, in the The World's Billionaires at 988 in the world and 30 in India. Arabian
Business ranked him as the fourth most powerful Indian in the Middle East in 2014
Personal Life
Ravi Pillai is married to Smt.Geetha. He has two children; son Ganesh Ravi Pillai and daughter Arathi Ravi
Pillai.
Recently, Ravi Pillai conducted his daughter's Dr. Arthi wedding in Kollam on Nov 26 2015, with total expense
of US$ 9Million. The wedding was organized by the production designer who lent his capabilities to the
blockbuster film, Bahubali. This was supposed to be one of the most expensive wedding that happened in
Ashramom grounds in Kollam, Kerala.