Newsletter CS-Professional 13th October,2014

1. www.cs-professional.com
c
THOUGHT OF THE DAY
“The true worth of a man is to be measured by the objects he pursues.”
Law Updates:
 F. No. 206/10/2014-CX.6 MINISTRY OF FINANCE, DEPARTMENT OF REVENUE CENTRAL BOARD OF EXCISE AND CUSTOMS-Audit by officers of Central Excise-reg.
 F.No. 178/84/2012-ITA.I, Ministry of Finance, Department of Revenue, Central Board of Direct Taxes- Clarification regarding allowability of Deduction under Section 10A/10AA on transfer of Technical Man-Power in the case of Software industry.
PROFESSIONALS INPUTS:
 Court issues summons to Ramalinga Raju, others in SEBI case- Based on two complaints filed in August by the Securities and Exchange Board of India(SEBI) on alleged unfair trade practices adopted by Raju and alleged violations of the insider trading regulations committed by him and others,the court issued notices.
 To curb misuse of official cyber tools and attempts of phishing, the Income Tax department has rolled out a secure email system for all its employees and officers.
 MCA to prescribe road map for companies to adopt new account norms next week-Banks, financial institutions and insurance companies are expected to have a separate road map, which will be announced by their sectoral regulators in due course.
MARKET WATCH:
SENSEX: 26157.25140.13 NIFTY: 7815.0044.95
SILVER:38934.00 1.07 GOLD (MCX): 27171.00207.00
USD/INR: 61.23 .11 CRUDE OIL: 5197.001.65
CS-PROFESSIONAL
Teamcsprofessional@gmail.com
www.cs-professional.com
https://www.facebook.com/csprofessionals
Date:13th October 2014

2. www.cs-professional.com
CREMICA
It is extremely important to acknowledge the fact that success comes in any profession specially if that profession is derived from the hobby or interest. We have a similar success story about The CREMICA group. It was established in 1978 by Mrs. Rajni Bector turning her passion for Ice Cream making (also her hobby) into a small backyard enterprise. She established the CREMICA group today a widely diversified food products and services company with an annual sales figure of Rs. 400 Crores, growing at the rate of 30 per cent per annum. In the course of the past two decades, the CREMICA group has established itself as a huge food products conglomerate, leading the food processing business through its range of products, its internationally certified production facilities, the consistency of its quality, and its unmatched expertise in the industry.
Mrs. Bector’s Food Specialities Ltd., is a part of Cremica Group. Cremica, a name that always spelt quality, practical and great tasting food, is fast becoming a household name in India. Its vast array of products has been carefully selected to provide the best food processing industry has to offer. Today, Cremica is known for its unique recipes, health oriented ingredients and state- of- the art standards.
Today, Cremica group does sales of over Rs.400 crore (Rs.4 billion) and is an important link in the supply chain to the fast food industry with an inventory of buns, breads, sauces, ketchups and ice creams toppings. Cremica is an approved supplier of bakery and liquid products to World’s largest fast food giants “Mc Donald’s”. Its products are also on the approved list of Canteen Stores Department, which caters to the requirements of Indian Armed Forces. It is also a major supplier to Indian Railways, Super Bazaars, Big Bazaar, Vishal Mega Mart, Reliance, Pizza Hut, Cafe Coffee Day, Barista, Papa John’s, United Nations (World Food Programme), Jet Airways to name just a few.
Cremica manufactures high quality Biscuits, Bread and Buns, Confectioneries, Indian Gravies /Curries, Tomato Ketchup, Sauces, Mayonnaise, Thousand Island, Spreads, Syrups, Toppings, Salad Dressings, Biscuits, Bread & Buns, Ice-Cream, Confectionery and Indian Snacks, Fruit & Flavored syrups for Milk and thick shakes, Ice Creams and Desserts etc.
The company was incorporated as 50:50 joint ventures with the Quaker Oats Company of U.S.A a Fortune 200 company. This project has been set up to produce liquid products such as, Tomato Ketchup, Mayonnaise, Tartar & Sandwich Spreads, Milk shake Syrups and Ice cream Toppings mainly for Mc Donald’s requirement in India and for the neighboring countries. The plant has been operational from Oct. 1996. Quaker Oats Company withdrew from the joint venture in 1999-2000 and the name of the company changed from Quaker Cremica Foods (P) Ltd. to Mrs. Bector Food Specialities (P) Ltd. then company started institutional & retail market in addition to Mc Donald. In the year 2001, the company was converted into public limited company. Today the group operates India’s largest tomato ketchup line and is country’s largest producer of ketchup portion packs capable of packing 2.5 million sachets per year! These high quality products have made a mark and are even exported to Europe Africa, Middle East, US and Australia.
The top of the line quality offered by CREMICA represents a key component of the value proposition. Setting aside Indian standards, the group has established a quality assurance department that is responsible for the implementation of GMP guidelines, online inspection of products, analysis of all raw materials and testing of finished products. To facilitate this, the group has set up a fully equipped laboratory geared to handle even microbiological analysis. And to maintain the highest standards in food safety, the group has adopted the HACCP Standards, which is certified by the NSF of USA.