Newsletter dated 27th March, 2015

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THOUGHT OF THE DAY
“Be the change that you wish to see in the world...”
Law Updates:
 Government has for the first time gone public with names of 18 tax
defaulters, including Goldsukh Trade and Somani Cements, who, in
all, owe over Rs 500 crore to the exchequer. The Central Board of
Direct Taxes (CBDT) posted on its website the names of 18
defaulters, of whom 11 are based in Gujarat.
 The Reserve Bank today instructed all banks, who deal with
government business, to keep designated branches open on March
30 and 31. Electronic transactions will continue till midnight on
March 31.
 The Madras High Court has issued notices to the Union Ministry of
Corporate Affairs and the Institute of Charted Accountants of India
(ICAI), on a plea by a Charted Accountant against the activities of
ICAI.
 A mismatch between the agenda and minutes of the latest annual
general meeting (AGM) of multinational corporation Vesuvius India
is likely to render invalid its appointment last year of an
independent director (ID). Sudipto Sarkar was appointed an
ordinary & non-retiring director but minutes show a resolution
appointing him an independent one for 5 years, probably
invalidating this and bringing the MNC in bre
PROFESSIONALS INPUTS
 Vide Notification ref F.No. A-4201 1/1/12/2014-Ad.ll dated 24th
March, 2015; MCA has made Appointment of RoCs as adjudicating
officers with jurisdiction and their appellate authorities u/s 454 of
CA 2013.
 RBI lays down norms for 'International Financial Services Centre.
 Vide Notification No. 31/2015 F.NO 196/212014-ITA.I dated March
24, 2015, Government notifies various entities for the purpose of
exemption under Section 10(46).
MARKET WATCH:
SENSEX: 27565.87 108.29 NIFTY: 8366.85 24.70
SILVER: 38613.00 455.00 GOLD (MCX): 26727.00 -74.00
USD/INR: 62.64 -0.04 CRUDE OIL: 3189.00 95.00
CS Rajiv Bajaj
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Bajajr66@gmail.com
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Date: 27th March, 2015

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Sachin Bansal,
The man behind Million Dollar Giant Flipkart
“Don’t start out alone; it helps to have a co-founder when things are
not going your way. Perseverance and hard work is very important.
The core of any business is to earn money. You have not done your
job well until you find a stranger who is willing to open his/her
wallet to give you money for the services/products that you are
offering. The next step after that is to focus on scaling it up well.”
Sachin Bansal is an internet entrepreneur who founded the online shopping website,
Flipkart, along with Binny Bansal. The Forbes magazine 2012 edition featured him in the Global 40 under 40 list. He
is a self-made millionaire whose vision of creating successful e-commerce company embodied in Flipkart. Sachin has
been a big part of this success story, driving his team with excellent leadership and management skills that defy his
age. Sachin left Amazon to start Flipkart along with a friend Binny Bansal with a mere investment of Rs 4 Lakh
Life, Education and Career
Sachin was born on 5th August, 1981 in Chandigarh, Punjab. He studied at Indian Institute of Technology (IIT), Delhi.
After his graduation, he took up a job in Bangalore at the company, Techspan. After a year he joined Amazon.com
India, where his paths crossed with his acquaintance Binny Bansal again. Working on huge projects at Amazon,
Sachin and Binny realized that they could also create a startup such as this. With this dream they both quit their jobs
at Amazon. They wanted to create great technology for India not for American companies and this lead to the
beginning of an era.
Vision and Success
Sachin Bansal has shot to international fame and has emerged as a successful entrepreneur with the dawn of the
notion of Flipkart. Flipkart revenue has presently reached US$ 200 million. Needless to say this reflects the
humongous of this e-commerce platform and it has accelerated Sachin Bansal net worth as well which is also in
millions and is still counting. Sachin Bansal has shaped his notion with a motive to make online shopping extremely
easy for people across all local and national edge. Flipkart now offers over 15 million products with more than 70
categories in books, attires, media, lifestyle products etc. Sachin Bansal contact is the heated affair after the success of
Flipkart. Sachin Bansal Facebook is flooded with responses from all inspired ignited technocrats who are motivated by
their notion and are inspired to strike a deal in the market. The website has grown making it 14000 people strong with
22 million registered active users and more than 4 million daily visits. The success of Flipkart is indeed awe-inspiring.
Awards and Acclamations
Sachin Bansal and Binny Bansal have put in their efforts to help the online website grow colossally. Sachin Bansal and
Binny Bansal wiki are together responsible for this prodigious success of Flipkart. Sachin Bansal Flipkart age is 7
years since the inception of its foundation and it has traversed a long way of success in this short span. Sachin Bansal
has also garnered august awards and recognitions for the success of Flipkart. Sachin Bansal award in the year 2012-
2103 as entrepreneur of the year award had garnered him immense fame and respect. He had also featured in Forbes
Global 40 under 40 List in the 2012 edition along with the Flipkart Co-founder Binny Bansal. Flipkart itself has
bagged Young Turk of the year award in 2012 and secured 2nd position among the cheapest mobile store in the year
2013. Flipkart has grown this huge owing to the joint efforts of both I. I. T. graduates, Sachin Bansal and Binny
Bansal.
Inspirational Source
The story of Sachin Bansal is a source of inspiration to people worldwide. He took an initiative, he dreamt a dream of
success and he made it come true. Now, he is at such height in the business world that people look up to him and he
made it all possible by working indefatigably towards his goal and always being optimistic about it, two qualities that
every entrepreneur should possess. From 10,000 rupees as allowance, he has come a long way to being a billionaire,
that too within a short period of seven years! His is a story of quick money and instant success. Sachin Bansal is the
mind behind the most successful e-commerce company in India.