Newsletter dated 28th May,2015

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THOUGHT OF THE DAY
“The function of education is to teach one to think
intensively and to think critically. Intelligence plus
character - that is the goal of true education…”
Law Updates:
 The Institute of Chartered Accountants of India (ICAI) is likely to
decide soon on the complaints against scam-hit National Spot
Exchange (NSEL)’s auditor, Mukesh P Shah & Co. Earlier this
month, the institute told the high court here that its disciplinary
committee was looking into the complaints and would take a
decision in “four weeks”. However, matter is pending with it for
about 20 months.
 The much-awaited National Intellectual Property Rights (IPR)
Policy might be delayed further, with the draft getting stuck at the
inter-ministerial consultation level and inputs from key ministries
yet to come. The department of industrial policy and promotion
(DIPP), under the ministry of commerce and industry, had prepared
and circulated the draft policy and invited public comments last
year. The draft is now with ministries, which were expected to
respond with feedback by the middle of this month.
 The government has proposed steps for quick redressal of industrial
disputes arising out of retrenchment or any other conflict between
employees and employers. The labour ministry would soon propose
a tri-partite board with adjudication powers, to help workers raise
grievance in case of industrial disputes with employers and if the
conciliation process fails.
 United Spirits has received notices from the Ministry of Corporate
Affairs and the Income Tax Department in relation to the alleged
irregularities in loans given away by Vijay Mallya to other UB Group
entities.
PROFESSIONALS INPUTS
 President gives his assent to Companies Amendment Act, 2015 on
25th May, 2015 and has been notified thereafter on 26th May, 2015.
 Securities and Exchange Board of India (SEBI) may further relax
the proposed framework for startup sectors to go for listing. The
capital markets regulator could considerably bring down the entry
barrier for investor and also dilute the disclosure requirement for
companies wanting to list on the soon-to-be-introduced listing and
trading platform.
MARKET WATCH:
SENSEX: 27531.79 -32.87 NIFTY: 8317.50 -17.10
SILVER: 38322.00 -32.00 GOLD (MCX): 26872.00 -5.00
USD/INR: 63.88 -0.15 CRUDE OIL: 3705.00 -8.00
CS Rajiv Bajaj
9811453353
Bajajr66@gmail.com
youtube.com/csrajivbajaj
https://www.facebook.com/Rajiv
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Date: 28thMay, 2015

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Nirupama Menon Rao,
Current Indian Ambassador
“Nirupama Menon Rao is the current Indian Ambassador
to the United States. She became India's first female
ambassador to China....”
EARLY LIFE:
Nirupama Menon Rao, the current Indian Ambassador to the United
States, was born on December 6, 1950, in Malappuram, Kerala. Since her
father was in the Indian Army, Nirupama Menon Rao had the
opportunity to travel to various cities in India.
In fact, Nirupama Menon Rao did her schooling in Bangalore, Pune, Coonoor, and Lucknow. Since her
strength lied in languages, Nirupama Menon Rao completed her BA (Honours) in English from Mount
Carmel College, Bangalore, in 1970. After that, she pursued a Masters degree in English Literature from
Marathwada University in Maharashtra.
CAREER PROFILE:
Since young, Nirupama Menon Rao was an outstanding student, and this propelled her to prepare for the
All India Civil Services Examination in 1973. Due to her hard work and diligence, she topped her batch in
one of the most competitive and challenging exams in India. Her top rank in the examination earned her a
seat in the Indian Foreign Service.It was during her intensive training at Lal Bahadur Shastri academy that
she met her husband, Sudhakar Rao, who is an Indian Administrative Service officer.
After her training, Nirupama Menon Rao served as an ambassador in the Indian Embassy in Vienna,
Austria. After that, she served as the First Secretary in the Indian High Commission in Sri Lanka from 1981
to 1983.While working at the Ministry of External Affairs, Nirupama Menon Rao specialised in India’s
relations with China, and became a member of former Prime Minister Rajiv Gandhi’s delegation to Beijing
in 1988. Between 1992 and 1993, Nirupama Menon Rao also worked as a Fellow at the Weatherhead
Centre for International Affairs at Harvard University. Apart from serving in a number of Indian
embassies around the world, including Washington, Moscow, Peru, and Bolivia, she also became the first
female spokesperson for the Ministry of External Affairs in 2001. Also, Nirupama Menon Rao became
India’s first female ambassador to China. Although the political arena in India is largely dominated by
males, Nirupama Menon Rao did not become intimidated.
She was determined to succeed and her hard work and perseverance paid off eventually as she climbed
high in her career ladder. At the time of the Libyan crisis, Nirupama Menon Rao went out of her way to
evacuate Indians from Libya.
ACHIEVEMENTS AND CONTRIBUTION SO FAR:
Nirupama Menon Rao has been conferred the degree of Doctor of Letters by Pondicherry University. Also,
she has been named one of the most influential women in the world on Twitter.
Since young, Nirupama Menon Rao has been passionate about writing, and despite her busy schedules, she
takes some time out to write books. In fact, one of her books called Rain Rising has been published and
translated into Russian and Chinese.
In November 2014, the Jawaharlal Nehru Memorial Fund, New Delhi announced the conferment of the
prestigious Jawaharlal Nehru Fellowship on Nirupama Rao in connection with her book project (currently
in writing) entitled "The Politics of History: India and China, 1949 to 1962". The book will be a
diplomatic/political history of the relations between India and China in the crucial decade leading to the
brief border-related conflict of 1962.