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THOUGHT OF THE DAY
THOUGHT OF THE DAY
“Very little is needed to make a happy life; it is all within
yourself, in your way of thinking.”
Law Updates:
 Fees collected by University couldn't be held as Government
funding just because fee collection is empowered by Statute:
Supreme Court.
 Company's name struck off from register on prayer of directors can't
be restored on subsequent request: High Court Calcutta.
 SLP granted against High Court's ruling that AMP expenses
incurred in India by assessee-subsidiary of foreign AE can be
categorized as an international transaction under section 92B:
Supreme Court.
 Monthly maintenance charge payable by tenant is part of actual
rent: High Court: Punjab & Haryana High Court.
PROFESSIONALS INPUTS
 RBI vide Notification No. RBI/DNBS/2016-17/49 dated 29th
September 2016 has issued Master Direction - Monitoring of Frauds
in NBFCs (Reserve Bank) Directions, 2016.
 RBI vide Notification No. RBI/DNBS/2016-17/48 dated 29th
September 2016 has issued Master Direction - Non-Banking
Financial Companies Auditor’s Report (Reserve Bank) Directions,
2016.
 RBI vide Notification No. RBI/DNBS/2016-17/47 dated 29th
September 2016 has issued Master Direction- Non-Banking
Financial Company Returns (Reserve Bank) Directions, 2016.
MARKET WATCH:
SENSEX: 27,827.53 -465.28 NIFTY: 8,591.25 -153.90
SILVER: 45,166.00 -509.00 GOLD (MCX): 31,096.00 -131.00
USD/INR: 66.76 0.41 CRUDE OIL: 3,126.00 157.00
CS Rajiv Bajaj
9811453353
Bajajr66@gmail.com
youtube.com/csrajivbajaj
https://www.facebook.com/Rajiv
1Bajaj
http://www.csrajivbajaj.com
Date: 30th
September, 2016
www.csrajivbajaj.com
Naresh Goyal
Chairman of Jet Airways
Naresh Goyal (born 29 July 1950) is an Indian businessman and founder
Chairman of Jet Airways. He started operating Jet Airways in 1993.
Following the 2005 IPO of Jet Airways, Forbes magazine declared him
the sixteenth richest person in India with a net worth of $1.9 billion.
Early Life:
Naresh Goyal was born in Sangrur - Punjab, northern India in 1949 in
the house of a jewellery dealer situated at Nabha Gate.He studied up to
sixth standard at Govt. Raj High School for Boys. When he was eleven years old, his family went through an
economic crisis and his house was auctioned. He then lived with his mother's uncle. When he was eighteen he
took a teaching degree. He started the career as cashier. He worked for his maternal uncle Seth Charan Das Ram
Lal's who was operating a travel agency then.
Carrier
After his graduation he joined the travel business with the General Sales Agents for Lebanese International
Airlines where he underwent rigorous and extensive practical training with several foreign airlines. During this
period he travelled overseas extensively for business.
Gifted with sky-high optimism, Goyal launched his first airline, Jet airways at a time when Air India and Indian
Airlines were the only domestic carriers. Jet Airways has been a soaring success since its first flight in 1993 and
has redefined the way people fly.
The airline has been acclaimed by frequent travellers as the most preferred carrier offering the highest quality of
comfort, service, standards and reliability. It currently operates more than 355 daily flights and has a network
connection of 55 domestic and international destinations.
It has opened a new chapter of rapid international expansion plan by commencing its operations to North
America. Using Brussels as its hub, Jet Airways will increase its international operations exponentially to other
North American destinations. It also plans to spread its wings to other destinations in Europe, Africa and Asia in
the near future.
With his superb knack of expertise and technical skills, Goyal later founded Jetair (Private) Limited in 1974,
with the objective of providing Sales and Marketing representation to foreign airlines in India. He was involved
in the development of traffic patterns, route structures, operational economics and flight scheduling, all of
which has made him a name to reckon in the world of aviation and travel.
He later ventured into an agreement with his prominent rival Vijay Mallya's Kingfisher Airlines after the airline
industry went through a rough patch in the second half of 2008. The collaboration would rationalize the
operation of routes, sharing of codes, prices and availability, fuel management and ground handling. He took
over Air Sahara giving his company 32% of the Indian travel market.
Jet airways has now decided to up its ante by refurbishing its existing domestic Boeing 737 fleet to reflect
progressive customer needs. The utmost importance given to cabin crew training and grooming has helped the
airline create a unique reputation for world-class service.
Goyal’s tenure in the world of aviation won him many awards and accolades. Forbes magazine declared him the
16th richest person in India with a net worth of USD 1.9 billion. He was conferred the first NDTV Profit
Business Award by Prime Minister Manmohan Singh in 2006. Business Week selected Goyal as one of the five
leaders from India in their Asia Edition cover story "Stars of Asia - 25 Leaders at The Forefront of Change."

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Newsletter dated 30th September, 2016

  • 1. www.csrajivbajaj.com THOUGHT OF THE DAY THOUGHT OF THE DAY “Very little is needed to make a happy life; it is all within yourself, in your way of thinking.” Law Updates:  Fees collected by University couldn't be held as Government funding just because fee collection is empowered by Statute: Supreme Court.  Company's name struck off from register on prayer of directors can't be restored on subsequent request: High Court Calcutta.  SLP granted against High Court's ruling that AMP expenses incurred in India by assessee-subsidiary of foreign AE can be categorized as an international transaction under section 92B: Supreme Court.  Monthly maintenance charge payable by tenant is part of actual rent: High Court: Punjab & Haryana High Court. PROFESSIONALS INPUTS  RBI vide Notification No. RBI/DNBS/2016-17/49 dated 29th September 2016 has issued Master Direction - Monitoring of Frauds in NBFCs (Reserve Bank) Directions, 2016.  RBI vide Notification No. RBI/DNBS/2016-17/48 dated 29th September 2016 has issued Master Direction - Non-Banking Financial Companies Auditor’s Report (Reserve Bank) Directions, 2016.  RBI vide Notification No. RBI/DNBS/2016-17/47 dated 29th September 2016 has issued Master Direction- Non-Banking Financial Company Returns (Reserve Bank) Directions, 2016. MARKET WATCH: SENSEX: 27,827.53 -465.28 NIFTY: 8,591.25 -153.90 SILVER: 45,166.00 -509.00 GOLD (MCX): 31,096.00 -131.00 USD/INR: 66.76 0.41 CRUDE OIL: 3,126.00 157.00 CS Rajiv Bajaj 9811453353 Bajajr66@gmail.com youtube.com/csrajivbajaj https://www.facebook.com/Rajiv 1Bajaj http://www.csrajivbajaj.com Date: 30th September, 2016
  • 2. www.csrajivbajaj.com Naresh Goyal Chairman of Jet Airways Naresh Goyal (born 29 July 1950) is an Indian businessman and founder Chairman of Jet Airways. He started operating Jet Airways in 1993. Following the 2005 IPO of Jet Airways, Forbes magazine declared him the sixteenth richest person in India with a net worth of $1.9 billion. Early Life: Naresh Goyal was born in Sangrur - Punjab, northern India in 1949 in the house of a jewellery dealer situated at Nabha Gate.He studied up to sixth standard at Govt. Raj High School for Boys. When he was eleven years old, his family went through an economic crisis and his house was auctioned. He then lived with his mother's uncle. When he was eighteen he took a teaching degree. He started the career as cashier. He worked for his maternal uncle Seth Charan Das Ram Lal's who was operating a travel agency then. Carrier After his graduation he joined the travel business with the General Sales Agents for Lebanese International Airlines where he underwent rigorous and extensive practical training with several foreign airlines. During this period he travelled overseas extensively for business. Gifted with sky-high optimism, Goyal launched his first airline, Jet airways at a time when Air India and Indian Airlines were the only domestic carriers. Jet Airways has been a soaring success since its first flight in 1993 and has redefined the way people fly. The airline has been acclaimed by frequent travellers as the most preferred carrier offering the highest quality of comfort, service, standards and reliability. It currently operates more than 355 daily flights and has a network connection of 55 domestic and international destinations. It has opened a new chapter of rapid international expansion plan by commencing its operations to North America. Using Brussels as its hub, Jet Airways will increase its international operations exponentially to other North American destinations. It also plans to spread its wings to other destinations in Europe, Africa and Asia in the near future. With his superb knack of expertise and technical skills, Goyal later founded Jetair (Private) Limited in 1974, with the objective of providing Sales and Marketing representation to foreign airlines in India. He was involved in the development of traffic patterns, route structures, operational economics and flight scheduling, all of which has made him a name to reckon in the world of aviation and travel. He later ventured into an agreement with his prominent rival Vijay Mallya's Kingfisher Airlines after the airline industry went through a rough patch in the second half of 2008. The collaboration would rationalize the operation of routes, sharing of codes, prices and availability, fuel management and ground handling. He took over Air Sahara giving his company 32% of the Indian travel market. Jet airways has now decided to up its ante by refurbishing its existing domestic Boeing 737 fleet to reflect progressive customer needs. The utmost importance given to cabin crew training and grooming has helped the airline create a unique reputation for world-class service. Goyal’s tenure in the world of aviation won him many awards and accolades. Forbes magazine declared him the 16th richest person in India with a net worth of USD 1.9 billion. He was conferred the first NDTV Profit Business Award by Prime Minister Manmohan Singh in 2006. Business Week selected Goyal as one of the five leaders from India in their Asia Edition cover story "Stars of Asia - 25 Leaders at The Forefront of Change."