Newsletter dated 29th December, 2016

1. www.csrajivbajaj.com
THOUGHT OF THE DAY
THOUGHT OF THE DAY
“An investment in knowledge pays the best interest.”
Law Updates:
 AO can’t invoke Rule 8D unless assessee’s voluntary disallowance
under Sec. 14A is unreasonable.
 Pending dues of income-tax couldn't be the sole reason to reject
amalgamation scheme: Rajasthan High Court.
 Shareholders of holding company couldn't inspect statutory docs of
subsidiary company: NCLT Mumbai.
 Transferee couldn't file oppression plea if he wasn't shareholder of
company on date of filing petition: NCLT Kolkata.
 Sec. 234C interest would be charged without considering reason for
deferment of advance tax: Madras High Court.
PROFESSIONALS INPUTS
 MCA vide Notification dated 26th
December 2016 has appointed
26th
December 2016 as the date on which provisions of Section 248
to 252 of the Companies Act,2013 shall come into force.
 MCA vide Notification dated 26th
December 2016 has notified the
Companies (Removal of Names of Companies from the Register of
Companies) Rules, 2016.
 CBEC vide Circular dated 28th
December 2016 has issued
instructions regarding inclusion of Show Cause Notice issued in
relation to sub-section (11) of Section 28 of the Customs Act, 1962
on the competency of officers of DGDRI, DGCEI and Customs
(Prev.) in the Call Book.
MARKET WATCH:
SENSEX: 26,432.98 222.30 NIFTY: 8,034.85 00.00
SILVER: 38,955.00 -2.00 GOLD (MCX): 27,532.00 -30.00
USD/INR: 68.17 -0.04 CRUDE OIL: 3,665.00 64.00
CS Rajiv Bajaj
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Date: 29th
December, 2016

2. www.csrajivbajaj.com
Siddhartha Lal
MD & CEO, Eicher Motors Ltd.
Siddhartha Lal is an Indian entrepreneur and businessman. Siddhartha is the son
of Vikram Lal and is the Chief executive officer and Managing Director of Eicher
Motors, a Director of Eicher Goodearth Limited and Chairman & MD of VE
Commercial Vehicles. Siddhartha Lal is credited with the turnaround and revival
of the legendary Indian motorcycle "Royal Enfield Bullet" (manufactured by Royal
Enfield).
Early Life & Education
Siddhartha Lal is son of Vikram Lal who was the Chief executive officer of Eicher Motors. Like his father,
Siddhartha too attended The Doon School for his secondary education. After completing his twelfth grade, Lal
attended the St. Stephen's College in Delhi and attained Bachelor of Arts degree in economics in the year 1994.
Between 1996-1998, he attained Postgraduate diploma in Mechanical engineering from Cranfield
University and Master of Science degree in Automotive engineering from University of Leeds in United
Kingdom.
Career
Siddhartha Lal, after completing his education started working with MAN Nutzfahrzeuge AG. He joined Eicher
Group in 1999, working in various capacities in the Eicher tractor division, and then became CEO of Royal
Enfield in 2000 (at the age of 26) aiming to end the unit's losses.
Mr. Siddhartha Lal, PGDME, MSc (Automotive Engg.) has been Chief Executive Officer and Managing
Director of Eicher Motors Ltd., of Eicher Goodearth Pvt. Ltd. since May 1, 2006. Mr. Lal serves as the
Chairman of the Board and Managing Director of Ve Commercial Vehicles Ltd., India, A Volvo Group and
Eicher Motors Joint Venture. He served as the Chief Operating Officer of Eicher Ltd. since January 2004. He
served as the Chief Executive Officer of Royal Enfield Motors Ltd. from 2000 to 2004. He served as the Chief
Executive Officer of Eicher Ltd. and its Managing Director since May 1, 2006. He worked with MAN
Nutzfahrzeugen. Mr. Lal joined Eicher group in 1999 and since then he worked in various capacities in the
marketing division of Eicher Tractors Business Unit. Due to his efforts in this area, he has also been nominated
as a part of the World Economic Forum’s Global Agenda Council for Transportation. He is also a part of the
newly formed Next Generation Leaders Board at Indian School of Business. He has been Executive Director of
Eicher Motors Ltd. since May 1, 2006. He serves as a Director of Ve Commercial Vehicles Ltd., India, Eicher
Goodearth Holdings Pvt. Ltd., Eicher Holding Pvt. Ltd., Eicher Investments Pvt. Ltd., Royal Enfield
Motorcycles Limited, Design Intent Engineering, Inc. and Hoff & Associates, Inc. He served as a Director of
Eicher Ltd. He is now co-championing a Young Global Leader (part of World Economic Forum) initiative
‘Transforming Urban Mobility’. Mr. Lal graduated in Economics from St. Stephens College, Delhi University
in 1994 and an alumnus of The Doon School. From 1996 to 1998, he completed a Post-Graduate Diploma in
Mechanical Engineering from Cranfield University, UK and a Master's of Science degree in Automotive
Engineering at the University of Leeds, UK.
Personal Life
Siddhartha Lal relocated from Delhi to London, in August 2015, in order to be close to Royal Enfield's
new R&D centre in Leicestershire. "We are in the process of developing engines for the international markets
and lots of developmental work is happening in the UK. It is for that I have decided to move to the UK for one
year," he said.