Newsletter dated 18th July, 2015

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THOUGHT OF THE DAY
THOUGHT OF THE DAY
“The greatest leaders mobilize others by coalescing people
around a shared vision...”
Law Updates:
 Central Board of Excise and Customs (CBEC) will start detailed manual
scrutiny of service tax returns of assessees based on risk parameters
under modified norms from August 1.
 Market regulator SEBI is working with the Reserve Bank of India for a
smooth roll out of the proposed e-IPO process that will reduce
paperwork in public offerings to nearly zero, halve the timeline for
listing of a company to just six days and also reduce costs of listing
substantially.
 The Bombay Stock Exchange (BSE) has written to the government,
seeking removal of capital gains arbitrage between listed and unlisted
companies to stem possible misuse of capital market transactions,
especially in penny stocks. The letter to the finance ministry comes after
a regulatory crackdown and a tax probe in around 90 cases.
PROFESSIONALS INPUTS:
 RBI launches 9th Round of Survey on Computer Software and
Information Technology Enabled Services Exports. (Press Release:
2015-2016/167 dated July 17,2015 )
 Vide Press Release: 2015-2016/165 dated Jul 17, 2015, RBI signs
Special Currency Swap Agreement with the Central Bank of Sri Lanka.
Under the arrangement, the Central Bank of Sri Lanka can draw upto
US$ 1. 1 billion for a maximum period of six months.
 Vide RBI/2015-16/126 DBR.No.BP.BC.30/21.04.048/2015-16dated
July 16, 2015, RBI has issued Prudential Norms on Income
Recognition, Asset Classification and Provisioning pertaining to
Advances – Credit Card Accounts whereby it is clarified that banks to
levy any late payment penalty on credit card customers, or report them
to credit information companies, only if the payment has been due for
more than three days.
 Vide Notification issued by government MP Registration Act amended,
whereby it exempts personal appearance of parties if docs are
submitted in e-form.
MARKET WATCH:
SENSEX: 28463.31 17.19 NIFTY: 8609.85 1.80
SILVER: 34177.00 -327.00 GOLD (MCX): 25488.00 -283.00
USD/INR: 63.47 -0.05 CRUDE OIL: 3207.00 -48.00
CS Rajiv Bajaj
9811453353
Bajajr66@gmail.com
youtube.com/csrajivbajaj
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Date: 18th July, 2015

2. www.csrajivbajaj.com
M. A. Yousuf Ali,
Managing Director, LULU Group International
Yusuffali M.A is an Indian businessman from Nattika in Thrissur district of Kerala. He is the
Managing Director of Abu Dhabi-headquartered EMKE LuLu Group of companies that owns
the Lulu Hypermarket chain in Middle East. With an annual turnover of US$ 4.5 billion
globally, the Group employs the largest number of Indians outside India. According to the
recent Forbes Listing, Yusuff Ali is currently the 39th wealthiest Indian and the 737th richest
in the world, with a personal wealth of $2.8 billion.He recently acquired 4.99 per cent shares
of the 93-year-old Thrissur-based Catholic Syrian Bank (CSB) and has increased his stake in
the Kerala based Federal Bank to 4.47 per cent.
EARLY LIFE & EDUCATION:
Yusuffali was born in Thrissur district on November 15, 1955. He completed his schooling from Nattika and moved to
Gujarat where he did his diploma in Business Management & Administration. After the studies he left India in 1973 to
Abu Dhabi where his paternal uncle, MK Abdullah, the Chairman and the founder of the EMKE Group of companies
was doing business. He developed the import and wholesale distribution of the group and ventured in to the
supermarket business by launching Lulu Hypermarket. He started his first Lulu Hypermarket in 1990s, a time when
the UAE's retail sector witnessed a major change, with the traditional groceries and supermarkets yielding place to
large neighborhood stores and hypermarkets. While the entry of Continent (now Carrefour) in 1995 changed the face
of retail business in Dubai, Yusuffali took charge of Abu Dhabi's retail sector by rolling out LuLu Hypermarket in Abu
Dhabi.
CAREER PROFILE:
The EMKE Group alias LuLu Group International commenced its operations as a family business venture. After
joining the business, Yusuffali diversified the business to include import and distribution of frozen products from
Europe and the US. The products were available not only in Abu Dhabi but also in the interiors of the Emirates too.
The business was soon expanded to include both food & non-food categories. The group also started cold storages,
meat and food processing plants, large-scale import and distribution to hotel groups, catering companies, and
shipping services. By the 1980s, the group had a sizeable share of the wholesale and retail food market in the UAE.
The Group headquartered in Abu Dhabi has grown into an international group with operations spread over three
continents. EMKE Group’s flagship retail chain of LuLu Hypermarkets and Supermarkets is currently rated as one of
the major players in the Middle East retail sector with more than 100 stores in the Gulf Cooperation Council (GCC)
Arab states. Apart from the hypermarkets, supermarkets and department stores, the group also owns several
shopping malls, namely, Khalidiyah Mall, Al Raha Mall, Al Wahda Mall, Mushriff Mall, Madinat Zayed Mall, Mazyad
Mall, Ramli Mall, RAK Mall, Al Foah Mall, and Al Khor Mall, spread across the GCC states. LuLu Shopping Mall in
Kochi, Kerala was opened on 10 March 2013. It is the group’s first retail venture in India. Another ambitious project in
progress is the Riyadh Avenue Mall in Saudi Arabia. The Group has a vast organizational structure of over 30,000
employees, representing 29 different nationalities, out of which more than 23,000 are Indians. Retail Business is the
mainstay of the Group with operations in major Middle East and African countries like UAE, Oman, Qatar, Kuwait,
Yemen, Saudi Arabia, Bahrain, Egypt and Kenya having Retail Sourcing and manufacturing bases located in Far East,
India, Africa and Guangzhou in China. Indian operations mainly include Food Processing, Export of Food & Non food
products and convention center with bases in Delhi, Lucknow, Mumbai, Chennai, Cochin and Trichur.
Deloitte has ranked the Group as one of the ten fastest growing retailers in the world. Planet Retail UK has also
ranked the Group as the No.1 Hypermarket chain in the region.
RECOGNITION AND AWARDS:
M.A Yusuffali has held and is currently holding several positions in government bodies and agencies, social,
educational and charitable sector like Trustee – The India Development Foundation, Trustee – Overseas Indian
Facilitation Centre, Former Member – Prime Minister’s Global Advisory Council (2008-2014);Mediator for the Smart
City project;Director Board Member, Abu Dhabi Chamber of Commerce and Industry (ADCCI);Member of Central
Wakf Council, Government of India;Director –Air Kerala International Services Ltd; Former Director – Kerala State
Industrial Development Corporation Ltd. (KSIDC) (2002 – 2014);Chairman of Lakeshore Hospital & Research Center
Ltd., Kochi, Kerala; Minority stakeholder in the Catholic Syrian Bank. His Major awards are:
 Commander" title & St. Ephraim Medal by the Patriarch His Holiness Ignatius Zakka I Iwas of Universal
Syrian Orthodox Church in 2004.
 Listed in the Forbes Magazine’s annual tally of billionaires in March 2013 at the 974th position with a net
worth of $1.5 billion.
 Lifetime Achievement Award at the inaugural Indian CEO Awards held in February 2012.
 Conferred with the title of Padma Shri by Smt. Pratibha Patil, the Honourable President of India in 2008
 Business Man of the Year 2009-10" award instituted by the Kerala State Forum of Bankers’ Clubs.