CS RAJIV BAJAJ Newsletter dated 10th december, 2015

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THOUGHT OF THE DAY
THOUGHT OF THE DAY
“If life becomes hard, soften it with random acts of
kindness.”
Law Updates:
 Finance Minister, Arun Jaitley said that the process of selecting tax
cases for scrutiny on a random basis is replaced by a system based
centralized approach through CASS (Computer Assisted Scrutiny
Selection).
 Delhi High Court in a judgment has stated that workmen's claim for
PF dues can only be filed before PF Commissioner and not
liquidator of the company.
PROFESSIONALS INPUTS:
 SEBI vide Circular No. CIR/MRD/DP/19/2015 dated 9th December,
2015 prescribed Guidelines on Outsourcing of Activities by
Intermediaries.
 ICSI has made representation on proposed Goods and Sales Tax
Law requesting for recognition of Company Secretaries under the
same.
 ICSI has made representation to the Ministry of Commerce &
Industry seeking modification in Rule 147 of the draft Trade Marks
Rules, 2015 in alignment with the existing provisions of Rule 150
of the Trade Marks Rule, 2002.
 CBDT vide Press Release dated 7th
December, 2015 has stated that
the department has expedited the issue of refunds below fifty
thousand for A. Y. 2013-14 and A.Y. 2014-15
MARKET WATCH:
SENSEX: 25036.05 -274.28 NIFTY: 7612.50 -89.20
SILVER: 34433.00 60.00 GOLD (MCX): 25549.00 23.00
USD/INR: 66.80 0.03 CRUDE OIL: 2493.00 -35.00
CS Rajiv Bajaj
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Bajajr66@gmail.com
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Date: 10th
December, 2015

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Naina Lal Kidwai
Group General Manager and Country Head of
HSBC India
Naina Lal Kidwai is an Indian banker, Chartered Accountant and
business executive. She is currently the Group General Manager
and Country Head of HSBC India. She is also a former President
of the Federation of Indian Chambers of Commerce and Industry
(FICCI).
Early life & Career
Kidwai holds a Bachelor's degree in Economics from University
of Delhi (1977 batch) and an MBA from Harvard Business
School in 1982. Kidwai was the first Indian woman to graduate
from Harvard Business School and also the first woman to guide the functioning of a foreign bank in India. She
is also a qualified chartered accountant.
From 1982 to 1994, she worked ANZ Grindlays, where her assignments included Head of the Investment
Bank, Head of Global NRI Services and Head of the Western India, Retail Bank. From 1994 to 2002, Mrs.
Kidwai served as the Head of Investment Banking in Morgan Stanley India and JM Morgan Stanley. She also
served at Standard Chartered Bank from the year 1982 to 1994 and as Chief Manager of Retail Bank from 1984
to 1991. From 1989 to 1991, Mrs. Lal was the Chief Manager and Head of Investment Bank, India and as
Manager of North India of Investment Bank from 1987 to 1989. Naina Lal has also served as the Manager of
West India of Investment Bank based in Bombay from 1984 to 1987. From 1977 to 1980, she worked at Price
Waterhouse & Co.
Along with serving as the Chairman of HSBC Asset Management (India) Pvt Ltd and HSBC InvestDirect
(India) Ltd, her other positions include being a non-executive director on the board of Nestle SA, Chairwoman,
City of London's Advisory Council for India, Global Advisor, Harvard Business School. She is on the
Governing Board of NCAER, Audit Advisory Board of the Comptroller and Auditor General of India, and on
the National Executive Committee of CII and FICCI.
Mrs. Kidwai serves as a Group General Manager of HSBC Holdings Plc since 1 October 2006. She also serves
as the Chief Executive Officer of HSBC India of HSBC Holdings Plc since 5 May 2006. Since 15 April 2009,
Mrs. Kidwai also served as the Country Head of HSBC India. She also served as the Head of Corporate &
Custodial Services of HSBC Bank. Naina also served as the Group General Manager of HSBC India until 15
April 2009. Mrs. Kidwai also served as the Deputy Chief Executive Officer of HSBC Holdings Plc since 21
May 2004. Besides, she also served as Managing Director of HSBC Securities and Capital Markets India. She
has also served as Deputy Chief Executive Officer of HSBC from November 2002 to 5 May 2006.
Awards & Accolades
For her praiseworthy work, Naina has also secured many accolades. Naina Lal has secured the distinguished
Padma Shri award for her contributions in the areas of trade and industry. She has also received ALL Ladies
League's Delhi Women of the Decade Achievers Award 2013 for Excellence in Banking.
Kidwai has repeatedly ranked in the Fortune global list of Top Women in Business, 12th in the Wall Street
Journal 2006 Global Listing of Women to Watch and listed by Time Magazine as one of their 15 Global
Influentials 2002.