1. www.csrajivbajaj.com
THOUGHT OF THE DAY
THOUGHT OF THE DAY
“Every new day brings with it another chance to change
your life.”
Law Updates:
As per rule 9(5), onus of establishing that inputs have been received
is on person taking credit; hence Commissioner (Appeals) cannot
place onus on revenue to establish that inputs have not been
received: CESTAT Mumbai.
Where there is no connection by way of participation in
management or control or capital by entities or its subsidiaries,
either directly or indirectly between two enterprises, they cannot be
said to be associated enterprises and provision of Chapter X of Act
cannot be applied: Tribunal Pune.
New monetary threshold for filing appeals before High Court is also
applicable to pending cases.
CLB dismisses complaint filed by petitioner-mother against her
three daughters for oppression and mismanagement as she had
approached the bench with unclean hands by suppressing the
material facts.
Writ could be filed to decide question of law even if alternative
remedy of filing an appeal was available: Supreme Court.
PROFESSIONALS INPUTS:
RBI vide Notification No. RBI/2015-16/435 dated 27th
June, 2016
has offered to sell (re-issue) four dated securities for notified
amount of Rs 15,000 crore.
CBDT vide Circular No. 24/2016 dated 27th
June, 2016 has issued
Clarifications on the Income Declaration Scheme, 2016
MARKET WATCH:
SENSEX: 26402.96 5.25 NIFTY: 8094.70 6.10
SILVER: 42289.00 -103.00 GOLD (MCX): 31548.00 147.00
USD/INR: 67.94 -0.02 CRUDE OIL: 3136.00 -130.00
CS Rajiv Bajaj
9811453353
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1Bajaj
http://www.csrajivbajaj.com
Date: 28th
June, 2016
2. www.csrajivbajaj.com
V. G. Siddhartha
Founder-owner of the chain of Cafe Coffee
Day outlets
V. G. Siddhartha is an Indian businessman from Karnataka. He is best
known as the founder-owner of the chain of Café Coffee Day outlets.
Siddhartha (now known V. G. Siddhartha) obtained a master's degree in
economics from Mangalore University, Karnataka. He married the
daughter of S. M. Krishna, the former Chief Minister of Karnataka,
Indian Minister for External Affairs and Governor of Maharashtra.
Early Career
After doing his Masters he joined J M Securities Limited in Mumbai as a management trainee/intern in trading
on the Indian Stock Market under Mr. Mahendra Kampani. After two years with J M Securities Limited, when
Siddhartha returned to Bangalore, his father gave him money to start a business of his choice. Siddhartha
bought a stock market card for Rs 30,000, along with a company called Sivan Securities, which was renamed in
2000 as Way2wealth Securities Ltd with vision to set "new standards in the retail financial services in India". Its
venture capital division came to be known as Global Technology Ventures (GTV) as well as a site in the city in
1984 and turned it into a highly successful investment banking and stock broking company.
Coffee business
Almost 15 years later, Siddhartha established a successful coffee business in Karnataka. He grows coffee in
Chikmagalur and exports about 28,000 tonnes of coffee annually and sells another 2,000 tonnes locally for
about Rs 350 million each year. His coffee growing and trading company, Amalgamated Bean Company
(ABC), has an annual turnover of Rs 25 billion. Siddhartha now has 200 exclusive retail outlets selling his
brand of Coffee Day powder all over South India. ABC is India's largest exporter of green coffee.
He owns 12,000 acres of coffee plantations. He started his coffee trading company ABC in 1993, with a Rs 60
million turnover. His company grew gradually. He bought an ailing coffee curing unit in Hassan for Rs 40
million and turned it around. Now, his company has a curing capacity of 75,000 tonnes, which is the largest in
the country.
He was the first entrepreneur in Karnataka to set up a cyber café in 1996 (Café Coffee Day, a chain of youth
hangout coffee parlors). Now, he has 1550 Coffee Day Cafes in India. Siddhartha also hopes to win the contract
to take his chain to all the airports of Karnataka and then to the rest of the country. His cyber cafes attract at
least 40,000 to 50,000 visitors a week.
Siddhartha was awarded the Entrepreneur of the year title in 2003 by The Economic Times for "crafting a
successful pan Indian brand for a commodity business and giving Indian consumers a new lifestyle experience
that is within reach of the common man".
Amalgamated Bean Coffee Trading Company Ltd. today is the largest exporter of green coffee from India and
perhaps one of the two fully integrated coffee companies of Asia, involved in all sectors of coffee from
plantations to retailing to exports. Coffee Day Group today is the only fully integrated and the largest coffee
conglomerate in India and is credited with creating the "coffee revolution" in India — acknowledged by the
Coffee Board of India Amalgamated Bean Coffee Trading Company Ltd. From a handful of cafés in six cites in
the first five years, Café Coffee Day has become India's largest and premier retail chain of cafes with 1,423
cafes in 209 cities/towns.
