Newsletter dated 21st april 2017

1. www.csrajivbajaj.com
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THOUGHT OF THE DAY
THOUGHT OF THE DAY
"Life is a succession of moments. To live each one is to
succeed."
Law Updates:
• Sec. Sale of business along with assets and liabilities is slump sale;
won’t be treated as short-term gain: Supreme Court.
• Karnataka High Court slams AO for invoking reassessment
proceedings without disposing off assessee's objections.
• Time-limit for filing appeal before High Court would commence on
receipt of ITAT's order by Commissioner.
• Entire shareholding of deceased founder to be equally transmitted to
his legal heirs: NCLT.
• Addition to ALP on basis of only one comparable having different
product mixes was not sustainable: Delhi Tribunal.
PROFESSIONALS INPUTS:
• Form CHG-1, CHG-4, CHG-9 and STK-2 are likely to be revised
on MCA21 Company Forms Download page w.e.f 22nd Apr 2017.
Stakeholders are advised to check the latest version before filing.
• MCA vide General Circular No. 02/2017 dated 20th
April 2017 has
issued clarification regarding online generation of challans for
offline payment cases.
• RBI vide Notification No. RBI/2016-17/284 dated 20th
April 2017
has decided that, henceforth, the compliance to the Ghosh
Committee recommendations also need not be reported to the ACB.
MARKET WATCH:
SENSEX: 29422.39 82.85 NIFTY: 9136.40 32.90
SILVER: 41505.00 -393.00 GOLD (MCX): 29295.00 -10.00
USD/INR: 64.56 -0.02 CRUDE OIL: 3301.00 -37.00
CS Rajiv Bajaj
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1Bajaj
http://www.csrajivbajaj.com
Date: 21st
April, 2017

2. www.csrajivbajaj.com
Arundhati Bhattacharya
Chairman of State Bank of India
Arundhati Bhattacharya is an Indian banker and is currently the Chairman of
the State Bank of India. She is the first woman to be the Chairperson of State
Bank of India. In 2016, she was listed as the 25th most powerful woman in
the world by Forbes. she studied in S. X. S Bokaro.
Personal Life
Bhattacharya was born in a Bengali family in the city of Kolkata. She spent her childhood in Bhilai.
Her father, Prodyut Kumar Mukherjee worked at Bhilai Steel Plant. Her mother, Kalyani Mukherjee
was a homeopathy consultant in Bokaro. She completed her schooling from St. Xavier's School,
Bokaro
She studied English Literature at Calcutta’s Lady Brabourne College and then at Jadavpur University.
Her husband is an ex-professor of IIT Kharagpur.
Career
Bhattacharya joined SBI in September 1977. She is the first woman to lead an India-based Fortune
Global 500 company. Initially, she joined SBI in 1977 as probationary officer at the age of 22 years.
She has held several positions during her 36-year career with the bank including working in foreign
exchange, treasury, retail operations, human resources and investment banking. This included
positions like the chief executive of the bank's merchant banking arm- State Bank of India Capital
Markets; chief general manager in charge of new projects. She has also served at the bank's New York
office. She has been involved in the launch of several new businesses such as SBI General Insurance,
SBI Custodial Services, SBI Pension Funds Pvt. Ltd. and the SBI Macquarie Infrastructure Fund. She
succeeded Pratip Chaudhuri, as Chairperson, who retired 30 Sep. 2013 She introduced a two-year
sabbatical leave policy for the bank's female employees to use either for maternity or elder care. On
Women's day, she announced free vaccination against cervical cancer to all the bank's female
employees.
In 2016, she was named the 25th most powerful woman in the world by Forbes. This is her first time
being ranked on the list. In the same year, she was ranked among the FP Top 100 Global Thinkers by
Foreign Policy magazine She was named the 4th most powerful women in Asia Pacific by Fortune.