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THOUGHT OF THE DAY

THOUGHT OF THE DAY

"Whatever you can do, or dream you can, begin it.. Boldness has genius, power and magic in it…"

Law Updates:

The Rajasthan government will use surplus money of state PSUs for providing finance to power companies and sick units. The newly constituted body will be named as Rajasthan State Power Finance and Financial Services Corporation and surplus amount of the state PSUs will be kept with the Corporation instead of banks.

Government plans to create intelligence unit to track food prices. With the abnormal rise in prices of essential commodities such as onions, potatos, pulses, tomatoes and edible oils becoming a seasonal affair, the government is considering creation of a specialized entity that can help forecast demand and supply of such items.

Centre circulates model GST laws among states. The Centre and states

have completed the drafting of the model Goods and Services Tax law

as well as an integrated GST or iGST law, which will be put up in the

public domain by early November.

PROFESSIONALS INPUTS:

MCA notified that Services on MCA portal will not be available from

16th Oct, 2015 08:00 PM to 19th Oct, 2015 8:00 AM.

Vide CBEC Circular No. 1007/14/2015-CX dated 12 October, 2015

notified regarding withdrawal of order under 37B of Central Excise Act,

1944 on classification of Coconut Oil packed in small containers.

Vide CBDT Press Release dated 10 October, 2015 issued clarification

regarding fresh Income tax notice to Nokia India that the demand

arising from the assessment order passed in August 2015, along with

the demands raised earlier are already being considered under Mutual

Agreement Procedure (MAP) of the India-Finland tax treaty by the

Competent Authorities in both countries.

SEBI will soon allow the companies to file ten-page abridged

prospectus for initial public offers as part of its efforts to help

disseminate information in a more investor-friendly manner.

MARKET WATCH:

SENSEX: 26841.51 -62.60 NIFTY: 8126.00 -17.60

SILVER: 36826.00 -155.00 GOLD (MCX): 26762.00 -26.00

USD/INR: 65.02 0.26 CRUDE OIL: 3096.00 21.00

CS Rajiv Bajaj

9811453353

Bajajr66@gmail.com

youtube.com/csrajivbajaj

https://www.facebook.com/Rajiv1Bajaj

http://www.csrajivbajaj.com

Date: 13th October, 2015

www.csrajivbajaj.com

Siddhant Vats

Co-Founder of Androidly Systems

Siddhant Vats is an Indian entrepreneur and investor. He is the co-founder & chief marketing officer of Androidly Systems which has been credited to have made the world's first Android technology watch. Siddhant is also the youngest business leader at the Horasis Global Business Meet. Siddhant has been invited to the white house by the U.S. President Barack Obama. Siddhant is also a speaker at the prestigious TEDx Talks.

Early life

Siddhant was born in Patna, Bihar, India. His father and mother, both are Government of India officers. His father Shreevats Sanjay is the Deputy Director General at India Tourism, Ministry of Tourism, Government of India. His mother, Ratna Purkayastha, is an officer with Doordarshan Kendra (Ministry of Information and Broadcasting). Siddhant lived 5 years in London, United Kingdom before shifting to United States.

Career

Siddhant founded Androidly Systems with Apurva Sukant and two other friends when he was just 17 years old. He says, We were responsible for making the world‟s first Android smart-watch. We named the watch „Androidly‟. Through this watch you can make calls, browse the Internet, use Whatsapp, listen to music, and click pictures. Practically, you can do anything which your phone can do. He even delayed his high school education by two years for this. Androidly smart-watch is available across the globe since mid 2013 at $220. It has been sold across 110 countries. Siddhant says, “The upcoming Androidly smart-watches will run the latest Android version and the design will be closer to that of an actual watch (unlike the current one which seems too big). It can be worn as a fashion accessory as well.” There‟s something special about Siddhant Vats, and to name a few things which distinctly place him ahead of his peers, include: He is a dreamer. That‟s the first thing which helped him become an entrepreneur. He doesn‟t

hesitate in taking risks. In fact, he doesn‟t consider them risky at all. He believes that like the Bollywood movies, everything ends well; otherwise it‟s not the end.

(Picture abhi baaki hai mere dost). He started his NGO when he was in the 8th grade. He didn‟t constrain himself within rules. He has done whatever he wanted to do which he feels was

morally right for him.

Philanthropy

Siddhant is also the Co-Founder and President of the non profit organisation, Falak Foundation. Siddhant started the non-profit organisation with teaching privileged children and organising free health camps when he was still in school. Siddhant has set up an International Monastery (Wat Lao) in Bodh Gaya. He hopes that this will increase the foreign exchange in India and contribute towards the economic growth.