Newsletter dated 9th April, 2015

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THOUGHT OF THE DAY
“Happiness... consists in giving and in serving others...”
Law Updates:
 The Reserve Bank of India (RBI) is planning to come out with
guidelines on remunerations for non-executive directors (other than
part-time Chairman) in private sector banks.
 Vide RBI Notification ref RBI/2014-15/545 A. P. (DIR Series) Circular
No.94 dated April 8, 2015, RBI notified government's decision to raise
foreign direct investment (FDI) limit in the insurance sector to 49 per
cent alongwith some specific conditions.
 Vide Order ref F.No.12(142)/02/MW/VII/348 dated 31.03.2015,Delhi
Government announces hike in minimum wage rates in Scheduled
Employments in NCT of Delhi.
 PM launches MUDRA Bank to fund small businesses. Micro Unit
Development and Refinance Agency to be an NBFC, initially with Rs
20,000-crore corpus and a credit guarantee corpus of Rs 3,000 crore.
The initial corpus would be provided by banks from their priority sector
lending shortfall; to be later converted into a bank.
PROFESSIONALS INPUTS:
 Services on MCA portal may not be available, tentatively, from 10th
April 2015, 10:00 PM to 11:00 PM. We regret the inconvenience
caused and request the stakeholders to plan accordingly.
 Vide Notification No- RBI/2014-15/544 DNBR. CC.PD. No.027 /
03.10.01/2014-15 dated April 08, 2015, RBI eases lending norms for
'NBFC-Micro Finance Institutions'.
 Monetary penalty for companies without women directors.Companies
to pay at least Rs 50,000 for missing deadline for appointing women
directors.
 ICAI Announcement - CARO report not applicable for financial year
2014-15. No additional reporting under section 143(11) of the
Companies Act, 2013 is required by the Auditors for the financial year
2014-15.
MARKET WATCH:
SENSEX: 28732.71 24.96 NIFTY:8724.30 9.90
SILVER:36645.00 -313.00 GOLD (MCX): 26514.00 -246.00
USD/INR: 62.23 -0.03 CRUDE OIL: 3180.00 -2.00
CS Rajiv Bajaj
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Date: 9th April, 2015

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Adi Godrej,
Chairman, Godrej Group
“Professionalism is not anybody's exclusive privilege
hence, it is important for everybody to ensure that success
stories are read, digested and innovated”
Adi Godrej is one of the icons of Indian Industry. He is the chairman of Godrej
Group. Adi is also a businessman whose tech-savvy and personal interest in
technology adoption has benefited his business immensely and added that bit
of dynamism to the Indian FMCG industry. As an entrepreneur he has been
responsible for restructuring and modernizing his entire group and moving
away from family hegemony that inflicts so many family-owned businesses in India. For instance, he has chosen
CEOs from outside his family to head his various group companies.
BRIEF PROFILE-
Adi Godrej is Zoroastrian and Chairman of Godrej Group. Adi Godrej was born in a business family. His father's
name was Burjorji Godrej and his mother's name was Jai Godrej. He left India as a teenager and got enrolled at
the Massachusetts Institute of Technology. Later he did his MBA from the MIT Sloan School of Management,
Cambridge, United States.
BUSINESS JOURNEY
After his return to India, Adi Godrej joined the family business. He modernized and systematized management
structures and implemented process improvements. Adi Godrej took the Godrej Group to great height during
controlled economy era. After the liberalization process, Adi Godrej restructured company's policies to meet the
challenges of globalisation. In the early 2000s, the Group completed a 10-year restructuring process through
which each business became a stand-alone company with a CEO/COO from outside the Godrej family.
Adi Godrej has played an important role in the development of a variety of industries by leading key
organizations of trade and commerce as the former Chairman and President of the Indian Soap & Toiletries
Makers’ Association, the Central Organisation for Oil Industry and Trade, the Solvent Extractors’ Association of
India, the Compound Livestock Feeds Manufacturers’ Association, the Indo-American Society and as member of
the Governing Board of the National Council of the Confederation of Indian Industry.
ACHIEVEMENTS
Adi Godrej has also participated actively in the field of management education as a former Chairman of the
Governing Council of the Narsee Monjee Institute of Management Studies, as a former member of the Dean’s
Advisory Council of the MIT Sloan School of Management and the Wharton Asian Executive Board. Adi is a
member of Tau Beta Pi (The Engineering Honor Society) and also serves as a member of the Governing Board of
the Indian School of Business.
PHILANTHROPIC ACTIVITIES
Under Adi Godrej's leadership, the group is also involved in philanthropic activities. Godrej is major supporter
of the World Wildlife Fund in India, it has developed a green business campus in the Vikhroli township of
Mumbai, which includes a 150-acre mangrove forest and a school for the children of company employees.
SUCCESS MANTRAS
 Innovation is the Core of Business
 Change is important for development and it’s important to manage change as
well.