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THOUGHT OF THE DAY

THOUGHT OF THE DAY

“All our dreams can come true if we have the courage to pursue them…”

Law Updates:

Offshore rupee-denominated bonds will attract a withholding tax of five per cent, and gains arising in case of appreciation of rupee against the foreign currency in which the investment is made would be exempted from capital gains tax, the finance ministry clarified.

The government is planning to organise 'Make in India Week 2016' from February 13 in Mumbai with an aim to promote India as an investment destination and increase its share in global FDI. DIPP has invited application for selection of an agency for conceptualising, planning and executing the opening ceremony of the week.

PROFESSIONALS INPUTS:

Vide SEBI Notification No. SEBI/ LAD-NRO/GN/2015-16/025 dated

27 October, 2015 notified the Securities and Exchange Board of India

(Issue of Capital and Disclosure Requirements) (Seventh Amendment)

Regulations, 2015 w.e.f. 1st day of December, 2015 under which SEBI

limits length of abridged prospectus to 5 pages and also further

excludes disclosure of memorandum.

Vide Notification RBI/2015-16/215 A. P. (DIR Series) Circular No. 23

dated October 29, 2015 RBI notified that No fresh permission or

renewal of permission shall be granted by RBI till the policy is reviewed

based on final disposal of the matter by the Supreme Court.

Vide Notification RBI/2015-16/216 A.P. (DIR Series) Circular No. 24

dated October 29, 2015 notified guidelines regarding Subscription to

National Pension System by Non-Resident Indians (NRIs).

Vide Notification RBI/2015-16/217 FMRD.DIRD.5/14.03.007/2015-16

dated October 29, 2015 RBI has allowed custodians or banks to short-

sell in the government bond market.

Vide Notification No.22/2015-Central Excise (N.T.) dated October 29,

2015 notified CENVAT Credit (Fifth Amendment) Rules, 2015.

MARKET WATCH:

SENSEX: 26880.20 42.06 NIFTY: 8129.70 17.95

SILVER: 36549.00 5.00 GOLD (MCX): 26592.00 -29.00

USD/INR: 65.24 -0.06 CRUDE OIL: 3009.00 -19.00

CS Rajiv Bajaj

9811453353

Bajajr66@gmail.com

youtube.com/csrajivbajaj

https://www.facebook.com/Rajiv1Bajaj

http://www.csrajivbajaj.com

Date: 30th October, 2015

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Sucheta Kriplani

One of the few women to help draft the Indian

Constitution

Sucheta Kriplani was a celebrated freedom fighter, working with Gandhi during the height of the Quit India Movement. She was also one of the few women elected onto the Constituent Assembly and helped draft the Indian Constitution, this during a time when women in public office was a seldom seen thing. She was also the founder of All India Mahilla Congress, established in 1940, and served as the first woman Chief Minister of India (U.P. Government) between 1963-67.

Early life Sucheta Kriplani was born in Ambala, Punjab (now in Haryana) to a Bengali family. She studied at Indraprastha College and Panjab University before becoming a Professor of Constitutional History at Banaras Hindu University. In 1936, she married Acharya Kriplani, a prominent figure of the Indian National Congress.

Freedom Movement and Independence

Like her contemporaries Aruna Asaf Ali and Usha Mehta, she came to the forefront during the Quit India Movement. She later worked closely with Mahatma Gandhi during the Partition riots. She accompanied him to Noakhali in 1946. She was one of the few women who were elected to the Constituent Assembly and was part of the subcommittee that drafted the Indian Constitution. She became a part of the subcommittee that was handed over the task of laying down the charter for the constitution of India. On 14 August 1947 she sang “Vande Mataram” in the Independence Session of the Constituent Assembly, a few minutes before Nehru delivered his famous "Tryst with Destiny" speech. She was also the founder of All India Mahilla Congress, established in 1940.

Post-independence After the independence, she remained involved with politics. For the first Lok Sabha elections in 1952, she contested from New Delhi on a KMPP ticket: she had joined the short-lived party founded by her husband the year before. She defeated the Congress candidate Manmohini Sahgal. Five years later, she was reelected from the same constituency, but this time she was the Congress candidate. She was elected one last time to the Lok Sabha in 1967, from Gonda constituency in Uttar Pradesh. Meanwhile, she had also become a member of the Uttar Pradesh Legislative Assembly. From 1960 to 1963, she served as Minister of Labour, Community Development and Industry in the UP government. In October 1963, she became the Chief Minister of Uttar Pradesh, the first woman to hold that position in any Indian state. The highlight of her tenure was the firm handling of a state employees strike. The first-ever strike by the state employees which continued for 62 days took place during her regime. She relented only when the employees' leaders agreed for compromise. Kriplani kept her reputation as a firm administrator by refusing their demand for pay hike. She retired from politics in 1971 and remained in seclusion till her death in 1974.