Newsletter dated 14th March 2017

1. www.csrajivbajaj.com
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THOUGHT OF THE DAY
THOUGHT OF THE DAY
“'Bright colors, water balloons, lavish gujiyas and melodious
songs' are the ingredients of perfect Holi. Wish you a very
happy and wonderful Holi.”
Law Updates:
• Boycott by association for production and exhibition of films would
be violate of provisions of Competition Act: Supreme Court.
• Assessee need not disclose additional income in every year covered
by settlement application.
• AO cannot examine sec. 37 conditions on “Privilege fees” paid for
renewal of liquor Licence: Karnataka High Court.
• Delhi ITAT affirms Rs 10,000 crores capital gain tax liability on
Cairn: Delhi Tribunal.
• Trial Court rightly dismissed discharge plea of petitioner as there
were evidences to prove violation of FEMA: Madras High Court.
• General Manager can authorize any person of its subsidiary to sign
oppression plea: NCLT Chennai.
PROFESSIONALS INPUTS:
• RBI vide Press Release No. 2016-2017/2429 dated 10th
March 2017
has cancelled the certificate of registration of the 6 non-banking
financial companies (NBFCs).
• SEBI vide Circular No. CFD/DIL3/CIR/2017/21 dated 10th
March
2017 has revised the regulatory framework for any scheme of
arrangement/ amalgamation/ merger/ reconstruction/ reduction of
capital etc.
• DVAT vide Circular No. 27 of 2016-2017 has specifies process of
de-sealing of business premises.
MARKET WATCH:
SENSEX: 28946.23 17.10 NIFTY: 8934.55 7.55
SILVER: 40183.00 -839.00 GOLD (MCX): 28430.00 -232.00
USD/INR: 66.63 -0.22 CRUDE OIL: 3290.00 -60.00
CS Rajiv Bajaj
9811453353
Bajajr66@gmail.com
youtube.com/csrajivbajaj
https://www.facebook.com/Rajiv
1Bajaj
http://www.csrajivbajaj.com
Date: 14th
March, 2017

2. www.csrajivbajaj.com
Francisco D'Souza
CEO of Cognizant
Francisco Dsouza (born 23 August 1968 (age 47)), who goes by Frank, is the
CEO of Cognizant and was part of the team that founded the NASDAQ-100
company in 1994. In 2007, at the age of 38, he took over from Lakshmi
Narayanan, who was promoted to Vice Chairman. Francisco is Cognizant’s
CEO since January 2007 .Francisco D'Souza is among the youngest Chief
Executive Officers in the software services sector.
Biography
D'Souza, a person of Goan origin (PIO), from a Konkani-speaking family, was born in Nairobi, Kenya, Africa.
His father, Placido D'Souza (born in 1933, ex-Anjuna, Goa), was a diplomat with the Indian Foreign Services
(ex India’s Consul General in New York and High Commissioner in Port of Spain, Hong Kong and Nairobi).
His mother was Sushila. His sisters are Jacinta, Lucia, and Maria (one of GoaNet’s very first members).
D'Souza holds a Bachelor of Business Administration degree from the University of East Asia, Macau, as well
as a Master of Business Administration (MBA) degree from Carnegie Mellon University, Pittsburgh.
Career
Francisco D'Souza has more than 20 years of experience in the information technology industry, in both
operational and advisory roles. Effective 1 January 2007, D'Souza was appointed President and Chief Executive
Officer and a member of the Board of Directors of Cognizant. He oversees much of the operations and business
development of the company, working closely with Cognizant clients who are using offshore resources to
execute large software development and maintenance projects.
At Cognizant, which he joined in its early days, D'Souza was elected Chief Operating Officer (COO) in
December 2003. Prior to that, from November 1999 to December 2003, he served as Senior Vice Presiden
(SVP), North American Operations and Business Development. From March 1998 to November 1999, he
served as Vice President (VP), North American Operations and Business Development and as Director-North
American Operations and Business Development from June 1997 to March 1998. From January 1996 to June
1997, D'Souza was engaged as a consultant. He has been noted for his quick rise to the top of his profession.
From February 1995 to December 1995, D'Souza was employed as Product Manager at Pilot Software. Pilot
was a Fuse Global Investment fund venture and leader in enterprise software. Between 1992 and 1995, D'Souza
held various marketing, business development, and technology management positions as a Management
Associate at The Dun & Bradstreet Corporation in Ge
rmany, the United States and India. While working at The Dun & Bradstreet Corporation, D'Souza was part of
the team that established the software development and maintenance business conducted by Cognizant. In
February 2013, D'Souza was appointed as independent director on the board of General Electric.
Awards and recognitions
D'Souza has received the following honors:
➢ 2002 - Ernst & Young Entrepreneur of the Year finalist.
➢ 2005 - The Economic Times Entrepreneur Award.
➢ 2009 - named among "America's Best CEOs" by Institutional Investor magazine.
➢ 2013 - named among "100 CEO Leaders in STEM" by STEMconnector.
➢ 2013 - Recognized as the Best CEO in the Multinational Company category by Forbes India magazine
as part of its 2013 Leadership Awards.
➢ 2014 - "Newsmaker of the Year" by The Financial Express.