Newsletter dated 20th September, 2016

1. www.csrajivbajaj.com
THOUGHT OF THE DAY
THOUGHT OF THE DAY
“Become a student of change. It is the only thing that
will remain constant.”
Law Updates:
 Appellate authority should verify date of receipt of order before
dismissing appeal as time-barred.
 The concept of lifting the corporate veil is applicable not only in the
cases of holding of subsidiary companies or in the case of tax
evasion but can be equally applied in execution proceedings. The
corporate veil can be lifted in cases where the Court from the
material on record comes to the conclusion that the Judgment
Debtor is trying to defeat the execution of the Award which is
passed against him.
 For failure of a listed company to obtain SEBI prescribed
Complaint Redress System login id and password for redressing
investors' grievances within stipulated time, penalty was to be
imposed: SAT Mumbai.
PROFESSIONALS INPUTS
 Forms CRA-2, CRA-4, SH-8, CHG-4 and MR-2 Forms are likely to
be revised on MCA21 Company Forms Download page w.e.f 22nd
SEP 2016. Stakeholders are advised to check the latest version
before filing.
 RBI vide Press Release No. 2016-2017/707 dated 19th
September
2016 states that the Punjab Government proposes to issue Special
Securities of a notified amount of ₹ 559.12 cr, under the UDAY.
Eligible market participants interested in subscribing to these
Special Securities are advised to send their bids as per the format
given below to Email between 10.30 am to 12.00 noon on
September 22, 2016 (Thursday).
MARKET WATCH:
SENSEX: 28,634.50 35.47 NIFTY: 8,808.40 28.55
SILVER: 45,219.00 296.00 GOLD (MCX): 30,967.00 47.00
USD/INR: 66.98 -0.11 CRUDE OIL: 2,878.00 -65.00
CS Rajiv Bajaj
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Bajajr66@gmail.com
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Date: 20th
September, 2016

2. www.csrajivbajaj.com
Rahul Bhatia
Managing Director of InterGlobe Enterprises
Rahul Bhatia is an Indian businessman and co-founder and Non-executive
director of low-cost carrier IndiGo and founder & group Managing
Director of InterGlobe Enterprises. IndiGo airline commenced operations in August
2006 and had its Initial Public Offering in October 2015. After the listing of the
airline on the Indian stock exchanges BSE and NSE, Forbes magazine declared him
the twentieth richest person in India (jointly with his father Kapil Bhatia), with a
net worth of $3.1 billion.
Early life and Education
Rahul Bhatia was born in 1955 in India. He attended the University of Waterloo and attained Bachelor of
Engineering degree. As a student at the University of Waterloo, he worked for two years with IBM. Bhatia
wanted to do Ph.D and become a teacher. He however was also doing some Information technology work
for United Airlines and in 1985, in the airlines' head-office in Chicago, he met Rakesh Gangwal with whom he
later co-founded IndiGo in 2006.
Career
Rahul Bhatia, as a student worked for two years with IBM where he was involved in the pilot project to
establish a fully automated screen manufacturing plant. His father, Kapil Bhatia used to run a travel agency by
the name Delhi Express which fell into trouble while Rahul Bhatia was living in the US. Rahul Bhatia returned
to India and started his career as a businessman by establishing InterGlobe Enterprises in 1989, dealing in air
transport management. He soon diversified into other businesses and developed number of travel related
businesses as well. InterGlobe Enterprises is a privately held corporate group which, apart from holding the
airline, also holds travel related businesses, chain of hotels in JV with Accor Hotels and three restaurants
in Gurgaon, Haryana. Along with Rakesh Gangwal, Rahul Bhtia co-founded IndiGo which commenced
operations in August 2006.
Rahul Bhatia currently serves as the non-executive director of IndiGo and group Managing Director of
InterGlobe Enterprises.
Rahul Bhatia and his father wanted to start an airline since many years and persuaded Rakesh Gangwal for
years to co-found the airline. Rakesh initially had no interest in starting an airline, but over dinner at Bhatia's
house one evening he agreed to work with them to launch the airline.
Look, you guys decide how much money you want to lose. I will work with you. I don't want any part of this
business. I will give you all my knowledge or whatever experience I have. But once you have lost that money,
shake hands and remain friends.
IndiGo placed firm order for 100 Airbus A320-200 aircraft in June 2005 with plans to commence operations in
mid-2006. The airline took delivery of its first Airbus aircraft on 28 July 2006 and the operations commenced
on 4 August 2006 with first flight operating from New Delhi to Guwahati.
Awards
 Ernst & Young Entrepreneur of the Year Award in 2010
 Economic Times Entrepreneur of the Year Award in 2011