Newsletter rajiv bajaj_19th july 2014

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THOUGHT OF THE DAY

“Kind words are short and easy to speak, but their echoes are truly

endless.”

Law Updates:

CIR/IMD/DF/16/2014-Clarification and extension of deadline with

respect to circular on 'Guidelines on disclosures, reporting and

clarifications under AIF Regulations'

RBI/2014-15/133 A.P. (DIR Series) Circular No. 6-Foreign Direct

Investment – Reporting under FDI Scheme

RBI/2014-15/134 A. P. (DIR Series) Circular No. 7-Rupee Drawing

Arrangement – Delegation of work to Regional Offices.

RBI/2014-15/135 A. P. (DIR Series) Circular No. 8-Money

Transfer Service Scheme – Delegation of work to Regional Offices.

Reserve Bank of India has advised boards of banks to lay out

appropriate internal principles and procedures so that usurious

interest (including processing and other charges) are not levied by

them on loans and advances.

PROFESSIONALS INPUTS:

Finance Minister Arun Jaitley on Friday presented Delhi's Budget

for Rs 36,776 crore in the Lok Sabha. No new taxes have been

proposed by the Finance Minister in the budget.

HC denied to entertain writ against sec. 153C notice as statutory

remedy was available with assessee-HIGH COURT OF GUJARAT

(Rajhans Builders v.Deputy Commissioner of Income-tax)

CS Rajiv Bajaj

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Date: 19th July 2014

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ANIL AMBANI:INDIAN BILLIONAIRE AND THE

CHAIRMAN OF ADAG

Anil Ambani is at the 34th position with a net worth of $ 10.1 Billion

Indian Billionaire Anil Ambani is the Chairman of The Anil Dhirubhai Ambani Group or ADAG.

He arrives at his office in a helicopter and works 12 hours a day. He is marathon runner and likes

go jogging every morning to keep himself super fit.

He is an optimist and is known for his aggressive style of business. Anil Ambani has become a role

model for the youngsters in India.

According to the Forbes’ he is the 6th richest man in the world and the 3rd richest Indian, with a net

worth of $ 42 billion. He was the year’s biggest gainer as his net worth increased by $23.8 billion.

Anil Ambani was born on June 4, year 1959. He graduated from the University of Mumbai. He did his

MBA from the Wharton Business School, University of Pennsylvania in the US.

In 1983, Anil Ambani joined Reliance. He took the position of the Co-Chief Executive Officer. He

managed the fund raising and marketing activities. Anil Ambani was in fact the man behind many

innovations in the field of Indian finance.

Anil Ambani started The Anil Dhirubhai Ambani Group or ADAG in 2005, after the Business

Empire got split between the Ambani Brothers.

The market capitalization of ADAG is around $ 75 billion. Anil Ambani’s business

interests include financial services, communications, entertainment, energy, power, and health

care.

Anil Ambani’s Reliance communications is one of the largest telecommunications company

in India. Anil Ambani has around 66% stake in Reliance communications.

Reliance communications was considering a merger deal with South African Telecom Company

MTN. The deal however was called off. The deal could have created $70 billion Telecom Company.

We can recall that Anil Ambani’s Company Reliance power had an IPO in Jan 2008.The IPO was

over subscribed 9 times and was the largest in India. The IPO raised $ 3 billion.

Anil Ambani’s Reliance Big Entertainment or RBE has signed deals with leading production houses

in Hollywood. The value of the movies will be worth $1 billion.

Reliance Big Entertainment or RBE entered into a deal with Amitabh Bachchan and family.

The worth of the deal was Rs 1500 crore.