www.csrajivbajaj.com

THOUGHT OF THE DAY

THOUGHT OF THE DAY

“Believe in yourself! Have faith in your abilities! Without a

humble but reasonable confidence in your own powers you cannot

be successful or happy.

Law Updates:

COMPAT quashed penalty imposed by CCI on ‘Indian Jute Mills

Association’ and ‘Gunny Trade Association’: CAT New Delhi.

Process of drawing wire from solid aluminium amounts to

"manufacture".

Cash deposits in bank can't be held as undisclosed income without

verifying source of deposits: Tribunal Amritsar.

Exporter can claim credit of duty paid to job-worker even if he

performs only testing and packing of goods.

Apex Court raps HC for recalling order of 'Subarata Roy' which wasn't

an exparte order: Supreme Court.

PROFESSIONALS INPUTS:

RBI vide Notification No. RBI/2016-17/8 dated 07th July, 2016 has

seeks to discontinue the requirement of Reporting of Bank Guarantee

on behalf of service importers.

RBI vide Notification No. RBI/2016-2017/11 dated 08th July, 2016 has

made amendment to Master Direction on KYC – Operationalisation of

Central KYC Registry (CKYCR) and KYC norms for Foreign

Portfolio Investors (FPIs).

MARKET WATCH:

SENSEX: 27126.76 -74.59 NIFTY: 8323.20 -14.70

SILVER: 47487.00 594.00 GOLD (MCX): 31747.00 -184.00

USD/INR: 67.36 -0.04 CRUDE OIL: 3059.00 -4.00

CS Rajiv Bajaj

9811453353

Bajajr66@gmail.com

youtube.com/csrajivbajaj

https://www.facebook.com/Rajiv1Bajaj

http://www.csrajivbajaj.com

Date:09th July, 2016

www.csrajivbajaj.com

GAUTAM SINGHANIA Chairman- Raymod Group

Gautam Hari Singhania is an Indian Industrialist. He is the Chairman

& Managing Director of the Raymond Group, the world's largest

producer of worsted suiting fabric

Early Life & Career Profile

Gautam Singhania was born in an industrialist family, to Vijaypat

Singhania and Ashabai Singhania.

Gautam Singhania joined the Singhania family's JK Group of companies

in 1986. He later joined the family's Raymond Group, becoming a director in 1990, the managing director

in July 1999, and the chairman in September 2000. He restructured the group and sold Raymond's non-

core businesses (synthetics, steel and cement). Under him, the group moved its focus to fabrics, apparel

brands, prophylactics and men's toiletries. He has also focused on international partnerships for Raymond,

including joint ventures with UCO Textiles of Belgium (denim) and Gruppo Zambaiti of Italy

(shirting). In 2005, Singhania opened a nightclub named Poison in Bandra, with DJ Aqeel. As of 2012

Singhania's net worth is estimated to be around $1.4 Billion. Singhania is currently constructing

a skyscraper ten stories taller than the Antilia constructed by Mukesh Ambani. The 30 story mansion,

called JK House, will be a combination of a private residence and textile showroom.

Personal Life

Gautam Singhania is married to Nawaz Modi Singhania, a Parsi. The couple has a daughter named

Niharika (born December 2005).

He has suffered from vitiligo (loss of skin pigmentation) since a young age. Its progression accelerated

when he was in his early 30s, as a side effect of medication.

Hobbies

Gautam Singhania is passionate about fast cars, boats, planes and nightclubs. He has driven a Formula 1

car in France, a Ferrari 360 Modena in a road and track rally across Europe, and a Lamborghini

Gallardo in Europe's Cannonball Run. He has also formed the first ever super car club in India. Singhania

owns M Y Ashena, a tri-deck luxury yacht constructed entirely out of Burma Teak wood. The yacht was

designed by traditional boat builders from a village in Gujarat. In relation to the construction of the boat,

he faced trial for cutting 586 trees on his estate in Thane. The Ashena was later used by Liz Hurley for

her wedding. He also owns the luxury yacht Moonraker, a traditional three-masted Arabian

sailing dhow Shazma, four speedboats named after the James Bond

movies Octopussy, Goldfinger, Thunderball,Golden Eye, and some other speedboats called Smokin

Joe and Raymond. Singhania also owns a Bombardier Challenger 604 business jet and three helicopters[