Newsletter dated 13th February 2016

Newsletter dated 13th February 2016

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  www.csrajivbajaj.com THOUGHT OF THEDAY THOUGHT OF THE DAY “Live your everyday extraordinary!” Law Updates:  Version of Form 8 LLP is modified w.e.f 13th February 2016. Stakeholders are requested to download the new form as older versions form will not be accepted by the system.  Companies having related party transactions in excess of 15% could not be selected as comparable for TP study: Bangalore Tribunal. PROFESSIONALS INPUTS:  RBI vide Notification RBI/2015-16/319 A.P. (DIR Series) Circular No. 52 dated 11th February, 2016 has issued clarification relating to issue of shares by starts-up.  RBI vide Circular No. 1/13.05.000/2015-16 dated 11th February, 2016 has notified Interest Equalisation Scheme on Pre and Post Shipment Rupee Export Credit.  CBEC vide Notification No. 24/2016 - Customs (N.T.) dated 12th February, 2016 notified Exchange Rate with effect from 13th February, 2016 thereby amending Notification No.18/2016- Customs (N.T.), dated 4th February, 2016.  CBEC vide Notification No. 4/2016 – Central Excise (NT) dated 12th February, 2016 notified regarding levy of duty under Section 3 of the Central Excise Act on Di-Calcium Phosphate (animal feed grade) of rock phosphate origin falling under heading 2835. MARKET WATCH: SENSEX: 22986.12 34.29 NIFTY: 6980.95 4.60 SILVER: 38023.00 -265.00 GOLD (MCX): 29402.00 -389.00 USD/INR: 68.24 -0.06 CRUDE OIL: 2005.00 161.00 CS Rajiv Bajaj 9811453353 Bajajr66@gmail.com youtube.com/csrajivbajaj https://www.facebook.com/Rajiv 1Bajaj http://www.csrajivbajaj.com Date: 13th February, 2016
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  www.csrajivbajaj.com Elon Musk CEO andProduct Architect of Tesla Motorsv Elon Reeve Musk (born June 28, 1971) is a South African-born Canadian- American business magnate, engineer, inventor and investor. He is the CEO and CTO of SpaceX, CEO and product architect of Tesla Motors, and chairman of Solar City. He is the founder of SpaceX and a co-founder of Zip2, PayPal, and Tesla Motors. He has also envisioned a conceptual high-speed transportation system known as the Hyperloop and has proposed a VTOL supersonic jet aircraft with electric fan propulsion. Early life Musk was born June 28, 1971, in Pretoria, Gauteng, South Africa, the son of Maye (née Haldeman), a model from Regina, Saskatchewan, Canada; and Errol Musk, a South African-born electromechanical engineer. He has a younger brother, Kimbal, and a younger sister, Tosca. His paternal grandmother was British, and he also has Pennsylvania Dutch ancestry. After his parents divorced in 1980, Musk lived mostly with his father in locations in South Africa. At age 10, he discovered computing with the Commodore VIC-20. He taught himself computer programming and at age 12 sold the code for a BASIC-based video game he created called Blastar to a magazine called PC and Office Technology for approximately US$500. A web version of the game is available online. Education Musk was initially educated in private education, attending the English-speaking Waterkloof House Preparatory School. Musk later graduated from Pretoria Boys High School and moved to Canada in June 1989, just before his 18th birthday, after obtaining Canadian citizenship through his Canadian-born mother. At the age of 19, Musk was accepted into Queen's University in Kingston, Ontario, for undergraduate study, and in 1992, after spending two years at Queen's University, Musk transferred to the University of Pennsylvania where, at the age of 24, he received a Bachelor of Science degree in physics at Penn's College of Arts and Sciences, and a Bachelor of Science degree in economics at the Wharton School of the University of Pennsylvania. Musk stayed on a year to finish his second bachelor's degree. While at the University of Pennsylvania. In 1995, age 24, Musk moved to California to begin a PhD in applied physics at Stanford University, but left the program after two days to pursue his entrepreneurial aspirations in the areas of the Internet, renewable energy and outer space. In 2002, he became a U.S. citizen. Career with Tesla Motors Tesla Motors was incorporated in July 2003 by Martin Eberhard and Marc Tarpenning, who financed the company until the Series A round of funding. Both men played active roles in the company's early development prior to Elon Musk's involvement. Musk led the Series A round of investment in February 2004, joining Tesla's board of directors as its chairman. Following the financial crisis in 2008, Musk assumed leadership of the company as CEO and product architect, positions he still holds today. Tesla Motors first built an electric sports car, the Tesla Roadster, with sales of about 2,500 vehicles to 31 countries. Tesla began delivery of its four-door Model S sedan on June 22, 2012. It unveiled its third product, the Model X, aimed at the SUV/minivan market, on February 9, 2012, Musk has favored building a sub-US$30,000 subcompact and building and selling electric vehicle powertrain components so that other automakers can produce electric vehicles at affordable prices without having to develop the products in-house. Several mainstream publications have compared him with Henry Ford for his work on advanced vehicle powertrains.