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THOUGHT OF THE DAY

THOUGHT OF THE DAY

“Leadership is working with goals and vision; management is working with objectives…”

Law Updates:

The Income Tax department has asked traders and businessmen to pay advance tax rather than file annual returns at the end of the financial year so that they can be added as new assesses promptly. As part of this initiative, the department is now holding public sessions called 'Seedha Samvad' (direct communication) with industry and trade bodies in public places across the country.

Former Commerce Secretary Rajeev Kher has been appointed as a member at the Competition Appellate Tribunal (COMPAT), which hears appeals against rulings of fair trade regulator Competition Commission of India (CCI).

The tax department has fixed its eagle eye on yet another target — this time it's inbound mergers and acquisitions (M&As). The 40 Indian companies that got the tax demand include Credit Suisse, Godrej Properties, Kohinoor Infrastructure and Carat Media, according to the documents.

CBI has conducted searches at 50 locations and started questioning of some of the suspects in its probe into alleged black money transfer of Rs 6000 crore to Hong Kong through Bank of Baroda camouflaged as payments for 'non-existent imports'. CBI said most of the 59 account holder companies, which had allegedly sent these remittances in the garb of payments, have given wrong addresses.

PROFESSIONALS INPUTS:

The income tax department is planning to introduce a sunset clause for

open-ended corporate tax exemptions while simultanously pruning the

list of sectors that are entitled to such benefits on research and

development, and capital expenditure and is also likely to figure in the

Union Budget for the next fiscal to be presented in February 2016.

SEBI has imposed a fine of close to Rs 50 lakh on 34 companies in the

first half of the current fiscal for allegedly failing to resolve investor

complaints. Apart from the penalty, more than 20 companies and their

respective directors have been barred from accessing the securities

market.

MARKET WATCH:

SENSEX: 27066.65 -12.86 NIFTY: 8188.20 -1.50

SILVER: 36967.00 134.00 GOLD (MCX): 26821.00 199.00

USD/INR: 64.74 0.01 CRUDE OIL: 3244.00 39.00

CS Rajiv Bajaj

9811453353

Bajajr66@gmail.com

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http://www.csrajivbajaj.com

Date: 12th October, 2015

www.csrajivbajaj.com

Vivek Agarwal,

Managing Director of M-Tech Informatics Pvt Ltd

“Often follow his instincts to make the right choice and believe that

instead of waiting for the right business opportunities, one needs to create

them…”

Vivek Agarwal is a young achiever in the Indian Business industry. An alumnus of the Nottingham University Business School (UK), he has several companies under his portfolio. He serves as the Managing Director of M Tech Informatics Pvt. Ltd. He also started several web based ventures like Comparemunafa.com, Skycandle.in, brandbazooka.com. He is the Founder of Leverage Group which deals with real estate business in Maharashtra. He has also co-founded Societal Upliftment Initiative Trust (SUIT).

Early life and education

Vivek Agrawal was born and brought up in a small town called Kishanganj in Bihar. Vivek was a shy, introvert boy with big dreams. After he completed his 10th grade, he moved to Bangalore to complete his further education. At the age of 17, Vivek started earning his pocket money by selling books to college students and got commission for the same. He has also done various odd jobs like going door to door and selling Tea and coffee packets. Today he heads a Group with the total employee strength of 2000 people who are constantly working towards a common goal.

Career

Grew up in a business family, and completed Master of Finance and Investment from Nottingham University Business School (UK), he often follows his instincts to make the right choice and believes that instead of waiting for the right business opportunities, one needs to create them. His love for adventurous leads him to sports like river rafting and skydiving and curiosity about the world takes him to new places in his travels. He Established MTECH INFORMATICS LTD in 2010, embarks on an ambitious journey to provide Quality affordable innovation along with a promise to deliver high end after sales service to the Indian market. With its Head office in Kolkata and a strategic office in New Delhi & Gurgaon, M-Tech has a network of sales and service channel throughout India. At the age of 28, Vivek Agarwal has diversified portfolio in various industries, that include real estate, telecommunication, IT and education, having a total employee strength of above 2000. His Company, M-Tech Started Operations with sales in Eastern India primarily in West Bengal and gradually expanded to other key states of India i.e. UP, Bihar, Jharkhand, Orissa, Punjab, Haryana, HP, Jammu, Rajasthan, Karnataka, AP, Maharashtra, MP, Gujarat. With reach of more than 20,000 retailers spread all over the country through 600+ Distribution Channels. In span of 4 years, M-Tech has turnover of Rs. 100 crore. In July 2015, he was awarded with Young Entrepreneur of the Year 2015 award by Franchise India in association with Times Now.

Beliefs

“Starting own business and being an entrepreneur is not glamorous. In fact, entrepreneurs have to take a great financial risk to get the ventures off the ground and create their own path,” Agarwal said. He then said, “With customers expecting something new every time, Innovation is the secret of successful execution of our business.”