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THOUGHT OF THE DAY

THOUGHT OF THE DAY

"What lies behind us and what lies before us are tiny matters compared to what lies within us…"

Law Updates:

Government has extended the validity of environment clearance (EC) from five years to seven years, a senior Environment Ministry official said. The EC can be renewed for a maximum period of three years. No condonation for delay shall be granted for any application for extension filed 90 days after the validity period of EC.

Guidelines in FDI for insurance firms issued. The Insurance Regulatory and Development Authority of India (IRDAI) said the total foreign investment in Indian insurance companies had been capped at 49 per cent. The regulator gave three months to insurers to comply with these norms from the date of issue of the guidelines.

FIPB approves Lupin’s proposal. The Foreign Investment Promotion Board (FIPB) has approved four foreign direct investment proposals at its meeting. This included one by pharmaceutical major Lupin.

Infosys, India’s second largest information technology (IT) services company, would acquire US-based Noah Consulting for a consideration of $70 million (Rs 454 crore), in an all cash deal. Founded in 2008, Noah Consulting provides advanced information management consulting services for the oil & gas industry and employs 122 consultants.

PROFESSIONALS INPUTS:

Vide MCA Notification F. No. 2/15/2014-CL-V dated 15 October, 2015

notified Limited Liability Partnership (Amendment) Rules, 2015 with

effect from 19th October, 2015 under which now Companies needn’t

inform to ROC about their conversion into LLP

Vide CBDT Notification No. 51/2015 Customs dated 19 October, 2015

notified Increase in Custom Duty on import of wheat from 10% to 25%.

According to the guidance note on international transactions issued by

CBDT, one transfer pricing officer (TPO) will handle only up to 50

important and complex cases at a time, compared with 70 now.

MARKET WATCH:

SENSEX: 27385.32 23.40 NIFTY: 8283.50 8.45

SILVER: 36810.00 -128.00 GOLD (MCX): 26974.00 -32.00

USD/INR: 64.92 0.1 CRUDE OIL: 3039.00 -12.00

CS Rajiv Bajaj

9811453353

Bajajr66@gmail.com

youtube.com/csrajivbajaj

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http://www.csrajivbajaj.com

Date: 20th October, 2015

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Shantanu Narayen

CEO of Adobe Systems

"If you can connect all the dots between what you see today and where

you want to go, then it's probably not ambitious enough or aspirational

enough…"

Shantanu Narayen is an Indian American business executive and the CEO of Adobe Systems. Prior to this, he was the president and chief operating officer since 2005. He is also the president of the board of the Adobe Foundation.

Early life

He grew up in Hyderabad, India, the second son of a mother who taught American literature and a father who ran a plastics company. He went to Hyderabad Public School in Hyderabad. Narayen holds a Bachelor of Science in electronics engineering from Osmania University in India, a Master of Business Administration from the University of California, Berkeley, and a Master of Science in computer science from Bowling Green State University in Bowling Green, Ohio. On May 7, 2011, Narayen received an honorary Doctor of Applied Science degree from his alma mater, Bowling Green State University.

Career

He started his career at Apple. After Apple, Narayen served as director of desktop and collaboration products for Silicon Graphics, then co-founded Pictra Inc. a company that pioneered the concept of digital photo sharing over the Internet. Narayen joined Adobe in 1998 as a senior Vice-President of worldwide product research, was later promoted to executive vice president of worldwide products, and appointed to his current post in January 2005 at the age of 41. He also serves on the board of Dell Inc. and the advisory board of the Haas School of Business, University of California at Berkeley. On November 12, 2007, Adobe Systems announced in a press release that Bruce Chizen would step down from his role as Chief Executive Officer effective December 1, to be replaced by Shantanu Narayen. Narayen is paid an annual salary of $875,000 for his role as chief executive. In 2009, Narayen was considered one of "The TopGun CEOs" by Brendan Wood International, an advisory agency. In 2011, US President Barack Obama appointed him as a member of his Management Advisory Board.

Guiding philosophy

“Focus on the task at hand and the fruits will take care of themselves.” This is the guiding philosophy of Shantanu Narayen, president and chief executive officer of Adobe Systems Incorporated. Over the course of his career, it has aptly steered and the companies he has influenced. Succeeding in a sector of business that demands products continually be on the cutting edge of innovation, Shantanu is well respected for both his operational expertise and product management savvy. Shantanu was trained initially in his native land of India, graduating from Osmania University, where his mother was a professor of American Literature. There he pursued a Bachelor of Science degree in electronic engineering. He went on to get a Master’s in computer science at Bowling Green State University, where he met his wife Reni. While working at Apple Computer, Inc, Shantanu attended the Haas School of Business Evening Weekend MBA program, graduating in 1993. He co-founded Pictra, Inc. in 1996, an early pioneer of digital photo sharing over the Internet. While there, he developed a key partnership with Adobe and joined the firm in 1998 as vice president and general manager of Adobe’s engineering technology group. In January 1999, Shantanu was promoted to senior vice president, worldwide products, and in March 2001 he was promoted to executive vice president, worldwide product marketing and development. In January 2005, Shantanu assumed the role of president and chief operating officer which he held until he became the company’s chief executive officer in 2007. Shantanu’s leadership, operational proficiency, and technological foresight have strengthened Adobe’s culture of innovation, expanded the company into new markets, and extended its product portfolio and global reach. Shantanu holds five patents and is a frequent speaker at industry and academic events. He serves on the Board of Metavante Technologies, Inc. and the Advisory Board of the Haas School of Business, University of California at Berkeley.