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THOUGHT OF THE DAY

THOUGHT OF THE DAY

“A clear vision, backed by definite plans, gives you a tremendous feeling of confidence and personal power…”

Law Updates:

RBI rejects plan for 100% FDI in banks. Currently, the government permits 74% FDI in private banks, with up to 49% allowed under the automatic route. Foreign holdings beyond 49% need to be cleared by the Foreign Investment Promotion Board (FIPB).

The Income Tax department will roll out next week its 'pilot' project to conduct scrutiny assessment in an e-environment. The first set of e-communications will be emailed to 100 chosen people each in Delhi, Mumbai, Bengaluru, Ahmedabad and Chennai regions.

The government has issued revised energy norms under the new urea policy for existing 25 gas-based urea plants in the country, a move that is expected to save about Rs 800 crore in fertiliser subsidy.

To put an end to rising cases of non-performing assets (NPAs) in banks and loans to undeserving entities, the government has now made it mandatory for all financial institutions to obtain an affidavit from auditors who sign balance sheets of companies applying for advances. Banks have also been asked to validate and verify these balance sheets and profit and loss accounts with the ministry of corporate affairs before sanctioning loans.

PROFESSIONALS INPUTS:

Vide CBEC Circular No. 27/2015 dated 23 October, 2015 issued

guidelines for launching of prosecution in relation to offences

punishable under Customs Act, 1962.

Vide CBEC Circular No. 28/2015-Customs dated 23 October, 2015

issued revised guidelines for Arrest & Bail in relation to offences

punishable under Customs Act, 1962.

Markets regulator SEBI is mulling to make it must for all listed

companies to have a stated 'Dividend Policy'. Rather, it would require

the listed companies as also those looking to get listed through Initial

Public Offer (IPO) route to state the circumstances under which their

shareholders can or cannot expect a payout.

MARKET WATCH:

SENSEX: 27426.93 -43.88 NIFTY: 8275.40 -20.05

SILVER: 36940.00 20.00 GOLD (MCX): 26860.00 51.00

USD/INR: 65.00 0.17 CRUDE OIL: 2925.00 -26.00

CS Rajiv Bajaj

9811453353

Bajajr66@gmail.com

youtube.com/csrajivbajaj

https://www.facebook.com/Rajiv1Bajaj

http://www.csrajivbajaj.com

Date: 26th October, 2015

www.csrajivbajaj.com

Ranjit Barthakur

Founder and Chairman of Globally Managed Services Ranjit Barthakur is the Founder and Chairman of Globally Managed Services (GMS), a modest Operational Consulting Incubator which was founded in 2002. He brings over 35 years of varied experience in managing and leading companies in a wide range of industries, including Fast Moving Consumer Goods, Telecommunications, Tourism, Technology, Environment, Ecology, Outsourcing and Healthcare.

Early life

Born in 1954 in Jorhat, Assam, to a family of lawyers, his childhood was imbued with Indian values and regular exposure to international issues. His father abandoned the legal profession in favour of planting tea. Ranjit Barthakur’s life has been viscerally influenced by Kaziranga, the Brahmaputra, Assam’s floods and the fierce pride that Assamese everywhere are known for. He founded the Balipara Foundation and is the Chairman of Globally Managed Services (GMS). He speaks to Bittu Sahgal about Naturenomics™ and his personal dream to see his home state lead India towards more productive, more ecologically-sensible ambitions.

Professional Success Ranjit Barthakur is the Chief Architect of the thought process at GMS of developing the theme of NaturenomicsTM - A Differentiated Approach to Capital Formation, and has co-founded several initiatives under this theme – Balipara Tract & Frontier Foundation (BTFF) - promoting agriculture and bio-diversity based community initiatives, and NatureFirst (focused on restoring the balance between nature through land,energy,waste, water, air and carbon) and River Journeys and Bungalows of India (nature based tourism business). Ranjit has set up other entrepreneurial ventures such as Agilisys [a leading technology solutions provider, formerly Netdecisions], Advent Healthcare (a facilitator in the healthcare industry in India), and Green Ecological Managed Services (GEMS & NatureFirst)-(A fully integrated, first of its kind environmental services organization) which was acquired by TCS and where he continues as Advisor to the Environmental Services Unit. He in the process of incubating three independent verticals – Water, Legal Corporate Services, Jungle and Forest Management. In order to encourage team work and sportsmanship, he took on Chairmanship of Jaipur IPL Team Rajasthan Royals, the inaugural champions of the Indian Premier League. He is also the architect of the Wills Cricket Series, both national and international, in the 80’s and 90’s, one of the early innovators of sponsorships marketing in India. Prior to becoming an entrepreneur, Ranjit was CEO of Hutchison Max-Touch Telecom (Vodafone) in India, Chairman of Marconi in the Indian Sub-continent, and held senior positions in Sales and Marketing at ITC, one of India's leading Fast Moving Consumer Goods companies. Ranjit has extensive hands-on experience in diverse geographic markets like India, South East Asia, Japan, Russia, Middle East, UK, Europe and USA. In 2001, Ranjit stepped into public service when Assam Government appointed him as Advisor for strategy, action planning, project formulation, investment initiation and image building exercise for the state of Assam, he continues to perform the role after being reappointed in 2011. In addition to this, he is supporting Mr. S. Ramadorai, Advisor to the Office of Prime Minister of India on National Skill Development. He is also the member of the Planning Commission’s Steering Committee on Eco-Tourism. Ranjit strongly believes in ‘Social Entrepreneurship towards Betterment of Human Health and Education’ and is consistently driving these initiatives and projects. Ranjit has initiated growth projects for public interest, social development, and innovation in social business, environmental conservation and market consolidation. He is hoping that his emphasis on promoting environmental preservation coupled with his openness to transfer his knowledge and innovative ideas will help this sector on a long term basis.