The document provides biographical information about Romesh Wadhwani, an Indian-American entrepreneur and philanthropist. It summarizes that he founded three successful technology companies in Silicon Valley, the last of which was sold for over $9 billion. He then founded the Wadhwani Foundations in 2000 to donate most of his wealth to supporting entrepreneurship in emerging economies. The foundations' largest initiative is the National Entrepreneurship Network, which provides training and resources to over 70,000 students and 6,000 entrepreneurs annually in India.

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THOUGHT OF THE DAY
THOUGHT OF THE DAY
“Big jobs usually go to those who prove their ability to outgrow
small ones…”
Law Updates:
 Director’s employment not valid in Target Co. under takeover code
if it is made on date of purchase agreement : Supreme Court.
 Loss incurred in chit-fund would be deductible if funds were raised
for business purposes: Lucknow Tribunal..
 Seller and buyer deemed as AE only if buyer has dominant
influence over terms of sale: Chennai ITAT.
 Functionally comparable Co. couldn't be excluded just because it
had different accounting year: Chennai Tribunal.
 NCLT allows compounding of offence in case of non-disclosure of
interest by director: NCLT Banglore.
PROFESSIONALS INPUTS
 CBDT vide Notification No. 11/2016 dated 02nd
December 2016 has
prescribed procedure for the purposes of furnishing and verification
of Form 26A for removing of default of Short Deduction and/or Non
Deduction of Tax at Source.
 SEBI vide Circular No. SEBI/HO/CDMRD/DRMP/CIR/P/2016/130
dated 02nd
December 2016 has decided that margin benefit on spread
positions shall be entirely withdrawn latest by the start of tender
period or the start of the expiry day, whichever is earlier.
 CBEC vide Notification No. 36/2016-CE dated 01st
December 2016
has seeks to further amend notification No. 12/2012-Central Excise
dated 17th March, 2012, in respect to the excise duty exemption on
branded gold coins of purity 99.5% and above.
MARKET WATCH:
SENSEX: 26,230.66 -329.26 NIFTY: 8,086.80 -106.10
SILVER: 39,925.00 -25.00 GOLD (MCX): 28,401.00 45.00
USD/INR: 68.8 0.05 CRUDE OIL: 3,491.00 103.00
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Date: 05th
December, 2016

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Romesh Wadhwani
Founder & Chairman, Wadhwani Foundations
“The economic greatness of a country is fueled by the strength
and vitality of its entrepreneurs…”
Dr. Romesh Wadhwani has been Founder, Chairman and CEO of three
companies in Silicon Valley, spending ten years at each one before either
going public or selling them. His third company, Aspect development, was
sold to i2 Technologies in what was then the largest merger in software
history. His latest venture, Symphony Technology Group, is a leading
technology investor in the software universe. He has also been a director on the boards of several other
companies and organizations.
Education
Wadhwani received his Bachelor of Science degree from the Indian Institute of Technology, Bombay and his
MS and PhD degrees in electrical engineering from Carnegie Mellon University.
Career
Romesh is a successful Silicon Valley entrepreneur and philanthropist with passion for wealth creation.
After building three large scale successful companies in three decades, the last of which was sold for over
$9 billion. Romesh founded the Wadhwani Foundations in the year 2000 to which he has committed to
donate most of his wealth. Romesh envisions high impact social change in emerging economies through
sustained economic acceleration. He is a member of the Gates Buffet Giving Pledge. Romesh is also the
Founding Chairman and CEO of Symphony Technology Group, a 12 year old PE firm comprising of 23
companies, with a combined revenue of USD 3.5 billion and 18,000 employees. In August 2012, Romesh
was appointed by U.S President Barack Obama as General Trustee, Board of Trustees of the John F.
Kennedy Center for the Performing Arts, Washington DC, a key administration post. Romesh is also a
Board Member of Center for Strategic and International Studies, Washington DC.
Focused on entrepreneurship development
Passionate about advancing entrepreneurship, Romesh believes that the most effective way for countries to
create jobs is to create entrepreneurs who start high-growth companies. It was, in fact, this conviction that
led him to start the Foundations first and longest-running initiative, the National Entrepreneurship
Network (NEN), in 2003. Today, NEN impacts more than 70,000 graduate-students and 6,000
entrepreneurs across the country, annually, by providing them the knowledge, skills and networks they
need to start and scale high-growth companies. NEN is now poised to take its proven model of advancing
entrepreneurship to other emerging economies. Alongside NEN, Romesh and his Foundations are working
closely with the Indian government to ease the regulatory and policy environment for young businesses in
the country, and strengthen the grant-making environment for innovative startups. Additionally, the
Foundations other initiatives are geared to help entrepreneurs find skilled and employable professionals
they need to grow their companies.
Awards & Recognition
Romesh is proud recipient of the prestigious ‘Non Resident Philanthropist’ award at the Forbes India
Philanthropy Awards 2013 and also features in Forbes 400 list.