Newsletter dated 31st august, 2016 comp

1. www.csrajivbajaj.com
THOUGHT OF THE DAY
THOUGHT OF THE DAY
"Success seems to be connected with action. Successful men
keep moving; they make mistakes, butthey do not quit.”
Law Updates:
 TDS u/s 194LA attracted on acquisition of building on agricultural
land which wasn't agricultural Godown: Gujarat Tribunal.
 Rules restricting appearance of outside lawyer in court without local
lawyer are valid: Supreme Court.
 Where assessee an Indian resident company earned income from
rubber plantations in Malaysia, plantations in Malaysia would be a
permanent establishment, in terms of DTAA between India and
Malaysia, through which business was carried on by assessee and,
therefore, income from such plantation, would be taxable only in
Malaysia and not in India.
 Revenue authority has no power to condone delay in filing
exemption application under sec. 10(23C).
 Annual letting value of unsold flats of builder could be taxed: Delhi
High Court.
PROFESSIONALS INPUTS:
 Forms DIR-3, INC-2, SH-11, CHG-4 and INC-4 are likely to be
revised on MCA21 Company Forms Download page w.e.f 2nd SEP
2016. Stakeholders are advised to check the latest version before
filing.
 MCA vide Circular No. 08/2016 dated 29th
August 2016 has given
relaxation of additional Fees and extension of last date of in filing
AOC-4, AOC-4 (XBRL), AOC-4(CFS) and MGT-7 under the
Companies Act, 2013 where AGM is held on or after 01st
April
2016.
MARKET WATCH:
SENSEX: 2,8343.01 440.35 NIFTY: 8,744.35 136.90
SILVER: 44,260. 00 3566.00 GOLD (MCX): 31,014.00 15.00
USD/INR: 67.14 0.00 CRUDE OIL: 3,156.00 -37.00
CS Rajiv Bajaj
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Bajajr66@gmail.com
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Date: 31st
August, 2016

2. www.csrajivbajaj.com
Chanda Kochhar
Managing Director of ICICI Bank
Chanda Kochhar (born 17 November 1961) is the managing director (MD)
and chief executive officer (CEO) of ICICI Bank. She is widely recognised for her
role in shaping retail banking in India
Early life and Education
Kochhar was born in Jodhpur, Rajasthan and raised in Jaipur, Rajasthan. She is an
alumnus of St. Angela Sophia School, Jaipur.
She then moved to Mumbai, where she joined Jai Hind College for a Bachelor of Arts degree. After graduating
in 1982, she studied cost accountancy and later, went on to acquire a master's degree in Management Studies
from Jamnalal Bajaj Institute of Management Studies, Mumbai. She received the Wockhardt Gold Medal for
Excellence in Management Studies as well as the J. N. Bose Gold Medal in Cost Accountancy.
Kochhar resides in Mumbai, and is married to Deepak Kochhar, a wind energy entrepreneur and her business
schoolmate. She has two children, daughter Aarti and son, Arjun.
Career
In 1984, Kochhar joined the Industrial Credit and Investment Corporation of India (ICICI) as a management
trainee.
Kochhar was instrumental in establishing ICICI Bank during the 1990s. In 1993, Kochhar was appointed as one
of the core team members who were assigned the responsibility of setting up the bank. She was promoted to
assistant general manager in 1994 and then to deputy general manager in 1996. In 1996, Kochhar headed the
newly formed Infrastructure Industry Group of ICICI Bank, which aimed to create dedicated industry expertise
in the areas of power, telecom and transportation. In 1998, she was promoted as the General Manager and
headed ICICI Bank's major client group, which handled relationships with ICICI's top 200 clients. In 1999, she
also handled the strategy and e-commerce divisions of ICICI Bank. In April 2001, she took over as executive
director. In 2006, Kochhar was appointed as deputy managing director of ICICI Bank. In 2006- 07, Kochhar
handled the international and corporate businesses of the bank. From 2007 to 2009, she was the bank's chief
financial officer (CFO) & joint managing director (JMD).
In 2009 Kochhar was appointed Managing Director (MD) & Chief Executive Officer (CEO) of the bank and
since then has been responsible for the bank’s diverse operations in India and overseas. She also chairs the
boards of most of the bank’s subsidiaries, which include India’s leading private sector life and general insurance
companies. In addition to her responsibilities at the ICICI Group, Ms. Kochhar is a member of the India – Japan
Business Leaders Forum and the US-India CEO Forum.
Awards
Ms. Kochhar received an honorary Doctor of Laws from Carleton University, Canada in 2014. The university
conferred this award on Ms. Kochhar in recognition of her pioneering work in the financial sector, effective
leadership in a time of economic crisis and support for engaged business practices.
In 2010, Kochhar received the Padma Bhushan Award, the third highest civilian honour awarded by the
Government of India, for her services to the banking sector
In 2011, Kochhar was awarded the "ABLF Woman of Power Award (India)" at the Asian Business Leadership
Forum Awards.
In 2015, Kochhar was ranked first in the Fortune List of 100 Most Powerful Women in Asia Pacific.