www.theenterpriseworld.com | APAC Edition | November 2019
REMARKABLE
STORIES of Determined Business Leaders
N.V.K Mohan Founder & MD Bigshare Services Pvt. Ltd.
BangaloreThe IT Capital Of India
Rohan BhattEmpowering Hospitality & Franchisee Businesses
N.V.K MOHAN A committed service specialist in Capital Market
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From Editor's Desk A boss has the title. A leader has the people! Whatever the sector it may be, some people always be ahead in every manner. They are the true motivation for rising entrepreneurs and all of us. The use of technology, strategies and well management helped them to increase their speed towards the desired goal. They achieved what they are struggling for, even more than that but still, they are working hard and making efforts to empower the businesses with various services. The leader is one who doesn’t just sit back and relax after achieving the desired but the one who thinks beyond the time and lifts up others. In this issue of The Enterprise World, Remarkable Stories of Determined Business Leaders, we feel proud to feature such business leaders who have climbed up ladders of success in the business world and are empowering others to do so. N.V.K Mohan, a business leader featured as a cover story in this issue is a committed service specialist in the capital market. N. V. K Mohan is a leading name in the field of investor servicing and registrars’ services. Through Bigshare Services Pvt. Ltd. he is providing quality services to help out clients since 1994. The business journey of Bigshare since inception is a huge source of motivation for all. Biotechnology plays a vital role in the health sector as well as in the economy. Fermenta Biotech is a leading manufacturer of Vitamin D3. Have a read and get known about their quality offerings and their contribution to the biotechnology world. Bangalore is a fourth city with having a maximum number of start-ups in the world. Read about Bangalore in upshot metros and get known about the diverse culture and technological importance of Bangalore. Sometimes we rush into completing as many things as we can in lesser time. Eventually, we end up with unsatisfactory results. Read an article conveying something important to improve your work process. The business world has changed a lot with digitization and modernization. We had come a long way from the barter system to the currency system. Feed your brain with some interesting knowledge about early monopolise in specially featured fact page. Be not afraid of growing slowly, be afraid only of standing still. Happy Reading!
Rushikesh Deshpande
INNOVATION, BEYOND IMAGINATION
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Leaders in Spotlight This issue of The Enterprise World, Remarkable Stories of Determined Business Leaders features, Featuring for the cover story is N.V.K Mohan. The main motive of the capital markets is to raise funds and to discover the intrinsic value of the businesses with improved transactional efficiencies. This goal is achieved as the capital markets bring together entities that hold capital and businesses that seek capital, thereby providing a platform for these entities to exchange securities. Having realized the importance of investor servicing and Registrars Services, N.V.K Mohan set up Bigshare Services in 1994. Bigshare Services Pvt. Ltd is in the BFSI segment and specifically into the capital market, handling the important responsibility of shareholder servicing and compliance requirements. Fermenta Biotech Ltd. (FBL) is one of the leading manufacturers of Vitamin D3 globally, headquartered in Thane, Maharashtra. FBL has become a multifaceted organization with a high degree of focus on research, development and product delivery in the field of biotechnology, pharmaceutical, and
environmental solutions. Mr. Rajinder Singh is the founder and Managing Partner of Lex Jurists - Advocates & Solicitors. He has extensive experience in criminal litigation and has served as a counsel in some of the most publicized cases in India. Over the years, Mr. Singh has earned a formidable reputation in criminal law practice. He has been the Legal Coordinator of the Rape Crisis Intervention Centre of Delhi Police for 8 years. Mr. Prakash Sinha FCA and Mr. Sachin Sinha FCA founded Prakash Sachin & Co. in 2004. It is a reputed firm of Chartered Accountants with a perfect blend of experienced & young minds, an active and talented team with a robust network of Associates. In an interview with Malika Sadani, Founder and CEO at Moms Co. read out her journey from the inception of the company. Her quest has got her to use the best pregnancy and baby care products available globally, and at The Moms Co., her constant endeavour is to create the same high-quality natural products in India. Most companies today focus on an efficient HR department or seek consultancy somewhere. Mr. Minnat Hashmi founded iTech
Solutions with a vision to become a world-class leader in Human Resource Recruitment, staffing, and IT solutions providers. Mr. Minnat is an inspiring businessman with a creative mind and heart full of Art. He has been aspired by the ‘Young Entrepreneurship Award 2016’ for his dedication to the business world. Working with big law firms for so long made Mr Bhumesh Verma (Managing Partner) realise that there was scope for more personal, accessible and customised legal services and this culminated in the creation of Corp Comm Legal. Corp Comm Legal is a boutique Indian law firm with its headquarters in New Delhi and associate offices in other major Indian cities. On international assignments, they work with foreign law firms on a nonexclusive basis. In a candid talk with Mr Rohan Bhatt, CEO at Square Consulting, discover the landscape of Hospitality, Restaurant and franchisee businesses. To empower such businesses and help them to grow SQuare Consulting (India) provides different business solutions. His success story is a true motivation for entrepreneurs.
CONTENT N.V.K MOHAN A Committed Service Specialist In Capital Market
Cover Story
BHUMESH VERMA
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An end-to-end Legal Solutions Provider
FERMENTA BIOTECH
18
Poised for Growth
MINNAT HASHMI
30
Facilitating Perfect Resource Delivery
PRAKASH SINHA & SACHIN SINHA
34
“Delivering Solutions – Professionally”
RAJINDER SINGH
42
An eloquent leader in legal practices
Rohan Bhatt Empowering Hospitality & franchisee businesses
Interviews
THE Moms Co. Made With Love
Upshot Metros
26 38
Bangalore, The IT capital of India
Did you know? Early Monopolies How to Optimize Your Daily Decisions
22 46
Malika Sadani
How Doing it All Gets Nothing Done
08
From The editor
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N.
N.V.K Mohan Founder & Managing Director Bigshare Services Pvt. Ltd. 08
November 2019
COVER STORY
.v.k Mohan A COMMITTED SERVICE SPECIALIST IN CAPITAL MARKET
T
he Capital Market is a place where entities with funds invest their money, and businesses in need of funds find their investors. It is a supply chain between two entities, the investors and the businesses who seek investments. Investors include people from the retail sector, or the institutional investors. And those who seek these investments are businesses, and sometimes the government. The main motive of the capital markets is to raise funds and to discover the intrinsic value of the businesses with improved
“ www.theenterpriseworld.com
transactional efficiencies. This goal is achieved as the capital markets bring together entities who hold capital and businesses who seek capital, thereby providing a platform for these entities to exchange securities. Having realized the importance of investor servicing and Registrars Services, N.V.K Mohan set up Bigshare Services in 1994. Bigshare Services Pvt. Ltd is in the BFSI segment and specifically into capital market, handling the important responsibility of shareholder servicing and compliance requirements.
We feel we can establish complementarity with bigger global players who have objectives to gain foothold in the Indian market 09
Prior to setting up Bigshare, Mr. N.V.K Mohan worked as VicePresident with Canbank Financial Services Ltd. (CANFINA) since its inception in 1987 and was assigned specific responsibility of starting the Data Processing Centre at Mahim, Mumbai for carrying out Registrar & Transfer Agency activities. As head of CANFINA's Registrar & Transfer Agency Division, he was responsible for all it’s operations and profitability.
About the Company BSPL was incorporated as a Private Limited Company with Registrar of Companies, Mumbai, on February 11, 1994 with the main objective of providing investor services in the Capital Market. In the same year, Bigshare got registered with Securities and Exchange Board of India (SEBI) to act as Category I Registrars to Issue and Share Transfer Agents. Since 2003 the Company also started servicing clients and their shareholders from its Hyderabad office and subsequently opened offices at New Delhi and Ahmedabad also. Bigshare is amongst the top 3 Corporate R&T Agents in India and was Ranked as #1 by Prime Database for the maximum number of equity public issues handled in a year (For FY’s 2014-15, 2015-16, 2016-17, 2017-18 and 2018-19) as Registrar to the Issue. It’s current clientele exceeds 2500 Corporates which includes MNCs, PSUs, Banks and Blue chip Corporates. The Company has handled more than 500 Public/Right Issues and Open Offers so far. From being a player who entered when there were as many as 200 players, some being well 10
established, Bigshare could rise to be the among the top 3 service providing agents. This is the key achievement of Mr. NVK Mohan’s entreprenal journey. The single desire to be among the top players with wide recognition and respect in the industry with delivery of best quality services at each and every time remains the driving force of his company. He says, “I am a strong believer of constant vigilance and supervision. Being a student of engineering, I firmly believe that if left alone only ‘entropy’ seeps in any environment.” Stepping into the vibrant and complex capital market as a service provider, one has to facilitate all the capital needs properly and with agility. In addition, it all comes with some or the other challenges. Bigshare Services too had its share of challenges when it started. Mr. NVK Mohan being a first generation entrepreneur in his family, and also being the sole Executive Promoter, the biggest challenge he faced was of organizing the required capital and getting on board trained executives. When Mr. NVK Mohan set up Bigshare Services, there already were other players in the capital market, who were offering the same services. This posed the next big challenge, to differentiate Bigshare services from others. The biggest turning point for BSPL came when they adopted services related to the dematerialization of shares in 1996/97. The faith in the market to adopt to this epoch and path breaking technology helped BSPL to reap in more business from many marquee clients.
The Service Portfolio Bigshare is focussed on shareholder servicing and compliance requirements associated with it. As a player which entered into this servicing only in 1994, when there were many already established players, BSPL knew from the beginning, the importance of personalized services coupled with adoption of innovative technologies. Though a small player in 1996, still they invested a substantial amount by borrowing from the banks to have the dematerialization facility. They adopted the latest Microsoft technologies for servicing by middle of 2000, though all other players including the large and established players were still using old programming tools like Foxpro/Cobol. Bigshare offers services under various domains. These include IPO’s/FPO’s, SME IPO’s, Rights and Bonus Issues, Fixed Deposit and many more associated services. ♦ REGISTRARS AND TRANSFER AGENTS SERVICE• Recording of change in the form of holding i.e. conversion of physical holding into electronic holding (Dematerialization and Rematerialization) • Recording movement of investor holding and their basic information including their specimen signatures in electronic media. • Recording of Change of address, Bank Mandates and ECS requests received from investors in physical mode. • Processing of Transmission/Transposition/Consol
November 2019
idation of holdings. • Issue of Duplicate Share Certificates. • Registration of Nomination • Registration of Legal documents such as Power of Attorney, etc. • Investor Services including providing investor related information, across counters through written communication and through telephone and via email/mobile app. • Disbursement of cash and noncash Corporate benefits which includes Dividend/ Interest/Redemption Payments.
♦ DEPOSITORY CONNECTIVITY SERVICES BSPL is connected to both Depositories i.e. National Securities Depository Limited (NSDL) and Central Depository Services (India) Limited (CDSIL) and provides electronic connectivity interface to unlisted Corporate clients. BSPL also provides this service to large number of clients for Debt Instruments of Private and Public Limited Companies. The main services include :
• Interacting with NSDL/CDSL for ISIN creation/activation • Dematerialisation and Rematerialisation • Carry out Various Corporate actions • Reconciliation of electronic holding • Interacting with Depository Participants and other entities ♦ INITIAL/FOLLOW ON PUBLIC OFFERS – REGISTRY RELATED SERVICES BSPL has acted as Registrars to
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If only your client is happy and doing well, you will do well.
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Initial/Follow on Public offers both through fixed price process and Book Build process for a number of clients in Main Board and SME Segments. The IPO registry related services include: Pre-issue Activities • Sending instructions to Banks • Facilitate and establish information flow system between clients, Banks and Managers to the issue. • Liaison with Regulatory Authorities such as Stock Exchange(s). Activities during the Issue • Collection of Data and Forms from Banks/SEs • Liaise with clients and Issue Intermediaries • Redressal of Investor queries Post Issue Activities • Data validation • Reconciliation • Provide Allotment Alternatives in consultation with Merchant Banker and Regulatory Authorities. • Facilitating Listing. • Filing of Return of Allotment • Uploading of data to the Depositories for crediting of securities electronically. • Dispatch of Refund orders/Share Certificates/Credit Advise. • Periodic Report submission to Regulatory Authorities. • Reconciliation of Refund payments. • Attending to post issue Investor queries. • Helping Clients to get the 1% refund. ♦ RIGHTS & BONUS ISSUES REGISTRY RELATED SERVICES Rights Issues 12
• Printing & Dispatch of CAF with letter of Offer • Collection of Daily subscription/Final Certificates and Application Form • Data Capture & Preparation of Basis of Allotment • Prepare Allotment Register, Print Share Certificate/Refund Orders • Uploading of data to Depositories for crediting securities electronically • Dispatch Share Certificates/Intimation letters • Facilitate Listing • Filing of Return of Allotment • Reconciliation of Refund payments • Attending to post Issue Investor queries • Periodic submission of Reports to Regulatory Authorities Bonus Issues • Setting the Record in Depositories • Print & Dispatch of Bonus Share Certificates/Intimation Letters • Upload of data to Depositories for crediting securities electronically • Facilitate Listing • Filing of Return of Allotment • Attending to post Issue Investor queries. ♦ OTHER RELATED SERVICES • Handling Public Issue of Bonds • Private Placement of Bonds • Assisting clients on Start up listing • Commercial Papers • Certificate of Deposit The company believes in Ethical, transparent and law abiding practices with all its stake holders, whether it is the client Company, Investors, Staff or Statutory agencies or other related parties. In order to follow the above in letter
and spirit, the company has various internal committees. Bigshare is now proposing to take forward their services by focusing on the delivery of best quality services by merging technologies. They are focusing on the servicing of Small and Medium enterprises (SME’s) and also the dematerialization work related to unlisted companies. Bigshare’s Core Competencies are centred around: • Data management • Customer service, and • Records management. In line with their entrepreunal tradition and growth objectives, Bigshare is constantly engaged in evaluating opportunities to leverage these competencies. As such ,expansion programs to move into other areas within financial services domain are also on the anvil. Bigshare is also considering various new areas thrown open with the Indian economy gaining momentum. Strategic alliances and investments are the natural next stop, having established a strong track record in the past 25 years. One of the key factors for the strong track record in the domain of their operation is that they stand strongly to uphold the regulatory environment that they operate in. Despite the ups and downs that the Indian capital markets have witnessed in the last three decades, Bigshare is amongst a handful of financial services intermediaries, who have an unblemished track record with the regulators. This not only ensures safety and security of all stakeholders, but also provides confidence to the regulators . November 2019
“Stakeholder welfare has been the cornerstone of our organisational value system.” Not only customers and shareholders, but also the employees and suppliers have been serviced continuously, and Bigshare therefore enjoys long relationships with all of these stakeholders and they form a large part of the strength that the company has gained in 25 years. In the current economic environment where the government is encouraging various initiatives under Make in India, Bigshare Services has been proud to create its own internal software platform, to run the capital markets service offering. This ensures that they are quick to adapt the ever changing regulations, with the speed that none of the competitors can match. Apart from this, Bigshare also provides opportunities to their technology service partners with unique opportunities for innovation and system design.
Pvt. Ltd. comprises of : 1. N V K MOHAN 2. N B PRASAD 3. LORI LIVINGSTON
Mr. NVK MohanLeadership His biggest inspiration came from the former Executive Director of Canbank who trained his thinking process with quotes like “ Slogging only gives Sympathy , only results will give you rewards.” His another fellow agency Managing Director, where he briefly worked, made him to practice “ Not to have strong likes or dislikes, be like a water drop on a lotus leaf”. This has helped him to hire employees without any prejudices depending
TO WORK
FOR TOTAL
Bigshare provides a culture of commitment and the opportunity of learning to all its employees whatever position they may hold. In fact Bigshare has emerged as the supplier of trained manpower in the area of their specialization.
SATISFACTION
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‘‘
The Board of Bigshare Services
He believes that as an entrepreneur one should have a mix of all skills related to domain knowledge, marketing, finance and execution ability. He understood in early part of his entrepreneurship that an employee turned entrepreneur like him will face capital and trained manpower constraints till the business establishes
The company’s guiding principle has always been-
The Team
Bigshare tries to help the client in whatever way possible. In a service industry like this, it is not sufficient to deliver good service to your clients; you should also become an in-house consultant/Advisor and must be in a position to guide the client if asked so.
upon the competency and also take the success and failure in equal measure.
of all the
STAKEHOLDERS
BY PROVIDING
TOP QUALITY
SERVICE.
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Remarkable Stories of Determined Business Leaders
E
veryone thinks of starting on his / her own at some point or the other in life. It is the ultimate dream of all firstgeneration lawyers, particularly those who are proficient in relationship building and are confident of generating business on their own. Working with big law firms for so long made Mr Bhumesh Verma (Managing Partner) realise that there was scope for more personal, accessible and customised legal services and this culminated in creation of Corp Comm Legal. Corp Comm Legal is a boutique Indian law firm with its headquarters in New Delhi and associate offices in other major Indian cities. On international assignments, they work with foreign law firms on a nonexclusive basis.
BHUMESH VERMA An end-to-end Legal Solutions Provider
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November 2019
‘‘
If you are hardworking and efficient, you will definitely have your place under the sun even if it takes time. Always believe in
'Apna Time Aayega'!
‘‘
Corp Comm Legal also has a global network of boutique law firms to provide seamless services to clients all over the world. In association with its global network, Corp Comm Legal provides end-to-end legal solutions to its domestic and international clients, be it M&A, corporate advisory, due diligence, litigation, arbitration, IPR, HR, compliances and so on. The clients can be assured of same level of services across the world with excellent turnaround time and genuine estimate of billing. The challenges First generation lawyers with no family background in legal profession or contacts have always had it hard, be it now or long back. They have to work extra hard to be recognised and appreciated. They www.theenterpriseworld.com
BHUMESH VERMA Managing Partner CORP COMM LEGAL have to climb stairs whereas those with a silver spoon manage to get best internships, placements and what not by pulling some strings here and there. Mr Bhumesh Verma, Managing Partner at Corp Comm Legal says “I remember a first gen lawyer friend being snubbed by another one (with a privileged background) in Supreme Court, telling the former “it will take some years for you to get here”. However, in the long run, it is your own efficiency and delivery of service that matters – all other factors get decimated sooner or later. Luckily, I was always working among very learned colleagues all the time, who had no bias towards a privileged background and it helped me a lot in my career.” Today, it has become fashionable to flaunt one’s underprivileged background to gain sympathy – be it TV talent shows or LinkedIn and so on. However, Bhumesh says that his generation worked much harder even they had no rich parents to support 5 year courses at private universities, no internship or placement opportunities, no stipend working with litigation lawyers, to name a few impediments but without complaining and professionalising Indian legal profession to global standards. Today’s struggles are of a different
kind. Sometimes, it seems amusing for law students to argue “I have spent X amount on my education, I must get a minimum Y amount of remuneration”. One needs to understand that your education spend is not a fixed deposit or a mutual fund investment, assuring you a fixed or guaranteed return. You have to earn every penny in the profession with hard work; impatience doesn’t make it any better. The space for boutique law firms considering big firms are becoming bigger and bigger It is a global phenomenon of big law and boutique firms coexisting and complementing each other. However, some big firms get inflexible after a certain time, working like factories, having monthly targets, budgets, resultant burnouts. At times, they may not be receptive or attentive to smaller matters nor ready to invest in long term relationships. It also cuts both ways - not all clients can afford the big law firms nor can the latter devote their best resources for smaller deals and matters. Even Corp Comm Legal gets so many job applications from all big law firm lawyers, be it associates, senior associates or partners because of burnouts and other issues. 15
Remarkable Stories of Determined Business Leaders Therefore, Bhumesh feels that there is a sweet spot for small / midsized firms to cater to a wider range of clients with more attention and flexibility in fee and emphasis on a balanced life for lawyers. In smaller firms, the clients actually get to work with the person they want to work with, have direct access and say in handling of their matter. There is no padding up of fee or loading of lawyer’s fancy office / software costs and so on. Remember, biggest actors and players are among richest people list because we buy the products endorsed by them. Next time you feel impressed by an amazing office or gadgets of a lawyer or a law firm, remember clients pay for it! Switching to a boutique law firm format The transition is both challenging and interesting. The challenge lies in being an initiator and executant of workflow at the same time – most of the lawyers in big law firms play the second part whereas the promoters are rain makers. It is interesting in the sense that you get a sense of credit, accomplishment and satisfaction about everything you do – even if you make X revenue (howsoever small amount it is), it belongs to you and your team and you are in charge of its distribution. Switching to your own also provides you flexibilities to pursue your passions – for example, in last 2 and half years, apart from regular practice, Bhumesh has addressed thousands of students in classrooms and online, written 350 articles, 3 books and done his bit in improving the 16
legal education standards in the country. This would never have been possible in a big law firm. We guess none of his contemporaries working in any other law firms can boast this much. Education initiatives Corp Comm Legal is also a knowledge partner with some of the best Indian legal education institutions to impart practical training sessions / credit courses for their students. It also encourages and engages students from such institutions in researching and writing with it. Corp Comm Legal team works on students’ submissions and often publishes their research in journals / websites in students’ names. Global network of law firms Corp Comm Legal has tied up with like-minded relatively smaller firms from India and abroad and brought them under a common platform ‘Global Business Lawyers’ League’. Most of the promoters of these firms have been partners with big international law firms or inhouse counsel, started on their own and offer world class services with more personal attention and customisation.
Smaller firms lack such visibility and avenues for showcasing their abilities. The government provides encouragement and incentives to industrial MSMEs but no such avenues are available for smaller law firms and they are left to fend for themselves. However, we have to live with it – a free economy is order of the day. This is one of the reasons for assembling a global network of smaller firms to have a collective say in such adverse atmosphere. Corp Comm Legal is growing bit by bit and are optimistic about the future. After all, Rome was not built in a day! The Future Corp Comm Legal is at the cusp of a great future. With recent legal and economic reforms initiated by the government, better days are certainly ahead for Indian legal profession. India’s place as a preferred FDI destination is bound to be further cemented and they foresee a lot of growth in domestic and international assignments. With a mandate not to open up any new law schools for next few years, there is an effort to streamline legal education as well. The professional standards will certainly get better.
About the state of competition in law firms’ space In India, smaller firms face competition even from biggest of law firms which could resort to undercutting, predatory pricing and so on just to throw the competition out of the market and capture work for their bench strength. Most of the industry forums are virtually cornered by bigger firms by sponsorships and other means. November 2019
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Remarkable Stories of Determined Business Leaders
B
iotechnology, a technology based on biology has always been a lifesaver for the human being. Biotechnology heals, fuels and feeds the world.
India is among the top destinations for biotechnology in the world, with around 3% share in the worldwide Biotechnology industry. Fermenta Biotech Ltd. (FBL) is one of the leading manufacturers of Vitamin D3 globally, headquartered in Thane, Maharashtra. FBL has become a multifaceted organization with a high degree of focus on research, development and product delivery in the ďŹ eld of biotechnology, pharmaceutical, and environmental solutions. The company’s operations are headed by Mr. Prashant Nagre (CEO) who aims to take the business to newer heights.
FERMENTA BIOTECH Poised for Growth 18
November 2019
‘‘
Our world is built on biology and once we begin to understand it,it then becomes a technology” - Ryan Bethencourt
‘‘
The company Apart from Vitamin D, FBL is engaged in the manufacture of other specialty APIs, enzyme technologies for antibiotic synthesis and also offers integrated biotech-based as well as engineering environmental solutions. FBL’s manufacturing facilities in Kullu and Dahej are certificated by global accreditations and its worldclass R&D centre is located at Thane. Triggering Point for its growth In early 2017, FBL had invested in Vitamin D (human and animal feed) capacity building. The investment enhanced its Vitamin D capacity and was soon validated: when the market for Vitamin D3 animal feed revived, FBL www.theenterpriseworld.com
PRASHANT NAGRE CEO Fermenta Biotech possessed the right capacity for the right market environment. Since this rebound was the result of China's Blue Skies Policy that resulted in a number of their manufacturing facilities having to shut down, FBL was able to provide a larger output for a wider market. Mr. Nagre admires Ratan Tata – he has built the Tata brand to exemplify not only excellence but also responsible business values Recent developments The investments in capacity building, together with the conducive market conditions, have reflected in the turnover, which has doubled from 2016-17 to 2017-18 and further grown in 2018-19. The profit and EBITDA margins are reflective of a healthy bottom-line. FBL has also widened its marketing and distribution footprint to cater to more than 300 customers spread across more than 50 countries. Reason Behind Company’s longstanding success Over the years, FBL has undertaken various initiatives for ensuring sustainable growth, as follows: • Manufacturing Capacity: FBL has focused on enhancing its production capacities to address the growing consumer demand. • Operational Excellence: FBL has
invested extensively in strengthening its business across the range of its operations and also in capacity building across different market cycles as well. • Functional Improvements: It has invested in cutting-edge technologies to enhance operating efficiency that reflects higher product quality and lower costs. • Value-added Formats: It widened the product mix to address the growing needs of customers and widened its presence across a larger number of global markets • Regulatory Strengths: It strengthened compliances that enhanced assuredness of supply, quality and process integrity. Further, it received approvals from international customers and initiated supplies of Vitamin D3 from Dahej • Business Development: FBL is engaged in working with a high sense of customer proximity, and is committed to servicing all its customers • Logistics Support: FBL endeavours to provide on-time & in-full delivery. All these initiatives resulted in preparedness to capitalize on opportunities Products & Services VITAMIN D FBL possesses proprietary technology for Vitamin D manufacturing. It possesses a 19
Remarkable Stories of Determined Business Leaders worldwide distribution network for a variety of applications such as pharmaceuticals, dietary and nutritional supplements, food, veterinary and rodenticides. OTHER NICHE APIs The company’s core strength lies in harnessing cutting-edge technology to manufacture world-class quality APIs. It manufactures Phenyramidol hydrochloride and silicon powder (Activated Dimethicone Powder) for its customers all across the world. INTEGRATED BIOTECHNOLOGY FBL delivers specialized technologies through its enzyme portfolio across the biopharmaceutical product lifecycle for manufacturing betalactam antibiotics. Its expertise range from microbiology to genetic engineering, fermentation to enzyme purification, enzyme immobilization to enzymatic synthesis and polymer beads development to scale-up synthesis.
billion in 2017 to US$18 billion in 2025, registering a growth of 21% per annum. FBL expects to derive growth through a growing presence in the manufacture of products addressing the growing preventive health sector, by enhancing nutrition affordability the world over. The most effective way of doing so would lie in positioning FBL as the one-stop destination for nutraceutical ingredients such as minerals, antioxidants, and other such products. B. Investing in capacities & capabilities FBL has invested extensively in scale during the last decade – supplementing its capacity at Kullu with additional capacity at Dahej and at Saykha (expected to commence operations shortly), completely transforming the base of its manufacturing pyramid
ENVIRONMENTAL SOLUTIONS FBL’s environmental solutions business addresses national environment priorities related to wastewater and solid waste management and treatment.
Mr Prashant Nagre: Profile Mr. Nagre holds a Degree in Pharmacy along with a Master in Management Sciences degree and is a Gold Medallist Post Graduate Diploma holder in International Trade from the prestigious Indian Institute of Foreign Trade (IIFT), New Delhi.
It is focussed on clientele from private institutions (commercial & residential developers, hotels, resorts, and dairies) by providing a blend of biotechnology and engineering solutions
With a career spanning 26 years, He possesses experience across various spheres encompassing Pharmaceutical, Biotechnology, Human and Animal Nutrition domains.
Building on the growth momentum A. Positioning as a nutraceutical ingredient supplier The Indian nutraceuticals market is expected to grow from US$4
He has been associated with FBL for almost a decade, leading strategy and overseeing the day to day operations of all three business verticals viz. Biotechnology, Pharmaceuticals and
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Environmental Solutions, as well as focusing on further building and developing the various strengths of FBL i.e. Manufacturing, R&D and allied activities. Human Capital: FBL’s strength FBL has been Great Place to WorkCertified ™, a recognition considered the ‘Gold Standard’ in ‘Employer of Choice’ recognitions and awarded to less than 50% of the participants every year. This substantiates the management’s belief that FBL provides a stimulating and rewarding environment whereby employees foster a sense of pride and reinforce organizational values. It reflects the inclusiveness, engagement, and trust that are ingrained in the company’s ethos and culture. Mr Nagre’s views on constant vigilance - Constant vigilance should be a part of the corporate strategy – if not practiced, it becomes a need!
November 2019
Mastering the art of horology through timeless craftsmanship and expert designs
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Interview with The Enterprise World
Rohan Bhatt CEO Square consulting
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November 2019
Rohan Bhatt Empowering Hospitality & franchisee businesses
W
hile the business world is changing its attire digitally, many opportunities are rising for entrepreneurs to expand businesses. Hospitality, Restaurant and franchisee businesses are not behind in this race. While setting up a hospitality business, restaurant business or a franchise business entrepreneur may come across with problems that they don’t have solutions. To empower such businesses and help them to grow Mr. Rohan Bhatt, the CEO provides different business solutions through SQuare Consulting (India). His success story is a true motivation for entrepreneurs. In a talk with him lets discover more about SQuare Consulting and his business journey.
both, had to be managed. This is what made the initial years extremely difficultly and challenging. · Which was that point that triggered the growth of the company? We were working or rather struggling for business in our initial years and we managed to score a consulting contract for a client who wanted to launch a new restaurant / café kind of model in 2009. Square Consulting was already a functional business for 2 years. We were doing freelance consulting for a host of clientele. This project gave us the breakthrough and we started to explore Business and Franchise consulting for retail business. 2013 was the year when we started specialty Hospitality consulting services with the intent of launching brands.
SQuare Consulting (INDIA) was founded with the vision of assisting businesses and helping them with solutions A JOURNEY THROUGH THE TIMES, NOT LOOKING AT SLOWING DOWN to their problems. Grabbed local brands’ attention to encompass organised Management
Entered Hospitality Consulting and Franchise
Launched Turn Key
Solutions for Projects · What were the initial Consulting Industry and Consulting ideas to small time helped create Success stories businesses challenges you faced? A market like India there is a lot of businesses that have their methodology of working which they are extremely comfortable with and do not want any external consulting assistance to Launched the Marketing Surging ahead with Explored Franchise Consulting Consultancy and Brand Aggression while keeping the scenario with National and SQuare Consulting founded as run their businesses. When we Consultancy into the bouquet momentum to raise the bar International Brands a Business Consulting of services offered started as a Business Consulting company company, we faced market resistance from the traditional businesses that were hesitant or even ignorant of the · What is the reason behind your company’s longwhole concept of consulting services or an external standing success? person trying to help them out. Then there was the The primary target has been and will always remain problem of sustenance of the company in itself or the the satisfaction of our patrons/customers and clients. business where all the tasks of business development, The culture of SQuare Consulting is that of a start-up as well as the availability of the core consulting team when it comes to doing our work and a corporate
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Interview with The Enterprise World when it comes to an organized way of working with SOP’s and KRA based task scheduling. We also apply practical Key Performance Indices on various aspects of the business to monitor the quality and consistency of our projects. · How have the company graphs changed since the foundation? Can you share a few statistics? It is said that a single image speaks more than thousand words, so here are our statistics
Their Services · What are the services the company focuses on? How are your services different from those in the market? The company basically deals in 3 major verticals; Hospitality Consulting – Setup and operations of new and existing projects in the Hospitality and Restaurant Business, Franchise Consulting – Assisting new and existing businesses and people become brands in themselves and try and convert them into sellable, sustainable franchisees, Retail Consulting – Helping businesses understand the dynamics of Retailing or Sales where selling a product/service becomes a smooth and streamlined process. · How do you decide to take the company a step further in terms of your services? We apply thought to the needs of the business of our clients and make sure that those needs match the ones the market is expecting them to offer. A simple understanding of the bottom lines and value addition for everyone brings about an inclusive growth strategy and a holistic approach towards business process development for every client is something that takes us one step further with our services. 24
· How do you think is the real estate market evolving? The real estate market in India has always been a tricky thing to come around. Desirable properties are always premium, to begin with, and many at times it has been seen that usage of the real estate is not optimal when it comes to most businesses. We take these kinds of challenges seriously and our team of experts and designers make it a point to develop properties with the most optimal utilization of the premium real estate. · Which are the new areas that are being explored in the real estate market? We try and explore properties with better future potential and believe inactivation of locations with high footfall inducting business models that can draw crowds. The spending of the customers at any business or brand is directly proportional to the perception of value for money by the end consumers. The modern consumer does not mind driving a little longer to a location that has an appropriate parking area and good street visibility for a business. Our property selection criteria are highly stringent and meticulous by design to enable the selection of the best property crossing the minimum threshold for getting approved for doing business. Leadership · What do you think are the responsibilities of an entrepreneur? In my personal opinion, the most important responsibility of an entrepreneur is to create value. Value creation might be a simple act of converting a potato into a chip, value creation might be taking a team of relatively fresh talent and nurture them to develop them into a team of professionally qualified human resources or it can be taking something like a single unit food brand and converting it into a chain of stores. · Can you please brief us about your professional experience? I have been a sales and marketing guy for the better part of my journey, I jokingly say this a lot but once a salesman, always a salesman. I was 13 when I accidentally sold my first insurance policy when I was taken by my father who is now retired at work with him on a school vacation. So that became the turning November 2019
· What are the key achievements of your entrepreneurial journey? We have managed to help more than 50 clients across different industries ranging from small start-ups to national and international clients with large turnovers. We also undertake start-ups under our start-up incubation packages where we do pro-bono consulting for them till the time they kick-off. We are working for the industry and the economy at large, thinking about our company and its growth is not going to be healthy in the long run. We are looking to empower our industry and then the industry will take care of our needs. · How do you look after your employees? What makes your team unique? We do not have a fixed team, to begin with, each project has a set of requirements and skill set that needs to be in place. So, we target the kind of employees we want for each of our projects by handpicking talent from various parts of the country and various sources. We try and bring them on board with the pre-joining training programs and workshops that help them in understanding what we expect out of them and what needs they have in terms of their training program. This creates commanding loyalty and enormous support to the system. We work for our team growth, which includes both our clients and employees. · Is there any special experience with your clients you would like to highlight? A client that had worked with us in 2013 had a model that needed assistance from our end. We helped the brand out and even opened up 2 franchise units for them. Then for almost 5 years the band went on its growth trajectory and managed to open as much as 25 units on their own. A lot of these units shut down due to the common issues between franchisees and franchisor brands. Later, the brand reproached us and made sure that the company hands over all of the control over the administration and operations to SQuare Consulting (INDIA). This confidence of the client in our capabilities as a company to help them in the worst possible time for any brand is what makes us happy about what we do. We help people in trouble and that is who we are and shall remain. www.theenterpriseworld.com
· Can you tell us which your favourite book is? And your favourite part of the book. I am a big fan of a little-known book by Robin Sharma – A Leader who had no title. The best part about this book is that it follows the Robin Sharma style of teaching something with a fable-like setting but the thing that sticks on to me from the book is the way the unorthodox leadership and just the willingness to do something is more important to all the 4 leaders of the protagonist’s story. This idea stuck on to me then and still I believe in doing what has to be done rather than doing what I want to. · One person, who you admire the most? I truly admire Bill Gates the most as in my opinion he is the perfect example of what makes a great businessman. Never losing sight of the purpose and never stopping is a virtue that makes me admire him the most. · Whose business story do you find the most inspiring? A business story that is most inspiring to me is the story of Ray Kroc and the Mc Donald’s brothers where a milkshake mixer salesman sees opportunity in helping a duo of brothers do something about their amazing business model and wants to grow with them to face multiple issues of hostile behavior from the very same duo who later have to give up against the legendary man behind Mc Donald’s as we know it.
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point for me when my love for sales started showing first. I have sold many things over the years, now we sell dreams of owning and growing a business.
· It’s a rat-race out there. How do you cope with that? Simple answer, Don’t be the Rat. Be the Cat in a rat race.”
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Upshot Metros
B A E N G A 26
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A L O U R E U www.theenterpriseworld.com
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Upshot Metros
BANGALORE The IT capital of India
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ndia is a nation where 179 languages are spoken in day to day conversations in 36 entities. In all these entities, many cities stand stronger on their feet with different cultures and businesses. Amongst these cities, Bangalore is a dynamic, technologically forward and famous for 24/7 traffic with its unique culture and rooted people. Bangalore is officially pronounced as Bengaluru. In a state called Karnataka, Bangalore is a capital with around 10 million populations. This much population but Bangalore is fully capable of providing bread and butter to every single human being.
A home to different industries In the scenario of the Indian economy, Bangalore city plays an important role. It is said to be a silicon valley of India. Over 67000 registered IT companies are there in Bangalore IT corridor from which 12000 companies are full time working companies and remaining are shelf companies. 456 multinational IT companies have their centers in the city. About 75% of IT professionals from total in India work in different Techno Parks of the city. Major IT companies like Infosys, Wipro started back in the ‘90s in Bangalore. Back in 1985, Texas Instruments became the first multinational company that formed its base in Bangalore. Well-known unicorns such as Ola Cabs, Myntra, Flipkart, Baiju’s and Quickr are originated at Bangalore. 98% of software exports are from Bangalore. Bangalore is also called as the aerospace capital of India. Aerospace companies like Boeing, Goodrich, Airbus Honeywell, and other companies have their R&D and engineering base in Bangalore. More than 65% of the aerospace business in India is from Bangalore only. Over 9500 employees work in Hindustan Aeronautics Limited (HAL) which makes it one of the topmost employers. Biotechnical industries are another biggest employer in the megacity. Biotechnology plays a significant role in the Indian Economy as well as the health sector. Bangalore is considered as the biggest biotech park in India. Biocon and Navozymes are one of the topmost biotech companies in Bangalore City. Many lifesaving drugs are manufactured in Bangalore. Apart from these, Heavy industries, telecommunications, and defence organizations are the major economic sectors in Bangalore. Back in 1985, Texas instruments an electronics company became a first multinational company that formed its base in Bangalore. Later on, many big ventures started in Bangalore which made the city the 4th most populous city in India.
A city with a big history The city with a lot of historical importance has seen many rulers. In 1537, Kempe Gowda a feudatory of the Vijaynagara Empire constructed a mud fort in Bangalore. Shahajiraje Bhosle took over the Bangalore while working for Adil Shah. After winning Bijapur Sultanate (Empire) sold Bangalore to Mysore Kingdom’s ruler Chikka Devaraja Wodeyar. Wodeyar gave Bangalore to his Dalvoy which means Commander in chief Hyder Ali. After the death of Hyder Ali, Tipu Sultan proclaimed himself as a sultan by taking over the empire of weak Wodeyar. British Army captured the Bangalore fort and made it center for British resistance and Tipu got killed in the fourth Anglo Mysore War. India became an independent country and Bangalore became the capital of Mysore state which is now Karnataka.
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The monuments are the stamps of history. A city that takes care of its monuments saves its history. History is a thing from which we inspire, learn and see future while looking back in the past. Bangalore has preserved all its monuments very well. A Laalbagh Garden is one of the most tourist attractions in Bangalore. Its construction and planning started back in the era of Hyder Ali and later completed with plantation of different species of plants by his son Tipu Sultan. Before India's independence, it was managed by Britishers. The Bangalore fort, Kempe Gowda constructed the mud fort in Bangalore; Later on, it was converted into a stone fort by Hyder Ali. Tipu Sultan, The son of Hyder Ali improved the Bangalore fort. The summer palace is another tourist attraction in Bangalore. Tipu sultan developed it after Hyder Ali and he used to address his Durbar from balconies. Vidhan Soudha, which means Vidhan Sabha or Legislative Assembly of Karnataka, is based in Bangalore. It is quite famous due to its architectural design. The design is inspired by the different architectures in Europe, Russia, and the United States. The construction was started back in 1951 and completed in 1956. Its credit goes to Kengal Hanumanthaiah, the second chief minister of Karnataka State.
A vast culture that holds everyone together In a country like India where there are several different cultures followed by different entities, Bangalore stands apart with its unique culture. Bangalorean people are rooted in their culture. The attire, food, music, and enthusiasm while celebrating festivals is the biggest reason for the liveliness of the Bangalorean culture. Bangaloreans celebrate the oldest festival ‘Bengaluru Karaga’, Dipawali, Dasra, Eid and Christmas with unity and the same enthusiasm. It’s a home for the Kannada film industry which is also known as Sandalwood. The recent Kannada blockbuster KGF starring superstar Yash hits the box offices of Karnataka and India. Not for only actors and filmmakers, Bangalore is the origin of many talented musicians and singers. Bangalore has given many talents to the entire entertainment industry. Music is the thing that connects people from any origin without thinking language as a barrier. India is gaining respect in the world due to its contribution to classical music. Carnatic classical music is an unbreakable part of music practiced and worshiped by Indians as well as musicians around the world. From the father of Carnatic classical music Purandara Das, Gangubai Hungal to Vijay Prakash, Raghu Dixit and many more are from Bangalore. What makes a city? The answer is people, culture, monuments and most importantly the food. If one visits to place he never been, he remembers the place mostly by the dishes served there. Bangalore has a massive and diverse food culture. Udupi restaurants are one of the popular places for pure vegetarian foodies. Crispy Dosas, hot and milky white idlis, soft wadas are signature southern food of Bangalore. You can find a stall serving all these south Indian dishes at any corner, any time. Another favourite Carnatic food, the Bisibele Bath, a dish from a rice family is highly popular in Bangalore. It is considered as a wholesome meal. Due to historical connections with the Mughals, Mughlai food is also one of the most served cuisines in Bangalore. The Mughlai cuisine includes dishes like Bangalorean Biryani, Sheek Kebabs, Sheek Rolls, Chicken Kebabs, Tandoori Chicken, etc. The city is quite rich in its food culture. When in Bangalore there’s no chance of being hungry or hangry. With a dynamic food culture, Bangalore has caught the eye of foodies all over!
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Remarkable Stories of Determined Business Leaders
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o matter the size of the organization, skilled professionals are always a must. To build the company, and the company reputation, one needs to hire a team of skilled professionals. It can be any task, from giving payroll out on time, to maintaining the work mandates and ethics in the workspace, HR Management is necessary. Most companies today focus on an efficient HR department or seek consultancy somewhere. Mr. Minnat Hashmi founded I Tech Solutions with a vision to become a world-class leader in Human Resource Recruitment, staffing and IT solutions provider. Popularly known as the Chief Executive Officer (CEO) of Hashmi Group of Companies wherein he is heading different business across India like i tech Solutions (Recruitment Company), Allied
MINNAT HASHMI Facilitating Perfect Resource Delivery
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November 2019
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We help organizations in finding the right talent at the right time.
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Guard Force Security Services (Security Company) and Hashmi Films (Film Production House), Mr. Minnat is an inspiring business man with a creative mind and heart full of Art. He has been aspired by the ‘Young Entrepreneurship Award 2016’ for his dedication in business world. The Journey of i Tech SolutionsHuman Resource is the most valuable resource in any company. Getting the best talent and then retaining them is a major problem for business owners and employers today. Intense competition has made working on proactive basis a need of the hour. HR Department is under tremendous pressure not only to shortlist the best profile in www.theenterpriseworld.com
MINNAT HASHMI Founder and CEO iTech Solutions Pvt. Ltd. minimum possible time and get them on board at the earliest, but also retain them for the longest time. Organizations have realized that investment in the right people will give them long term benefits. Mr. Minnat Hashmi stepped in Mumbai with a dream to work in the Bollywood World and without further ado, he started to work his sweats off and soon achieved a height with his own company i tech Solutions. Which he started in the year 2005.I tech Solutions is well known brand in the market as Recruitment Company. Their Services-
constraints. As part of their business intelligence solution, i tech Solutions consultants perform a specialized business-driven requirements analysis process, provide onsite project management resources, needs assessment ,design and architect the solution, manage the deployment of the BI solution, and train key resources. In addition, we prototype the Business’ solution, manage complete configuration, and support the program efficiently. i tech Solutions provides the following expert consulting services which are designed to meet the needs of its customers during the entire product life cycle from concept to end-of-life, include:
i tech Solutions focuses on verticals like Corporate / MNC / BFSI / Insurance / KPO / BPO / IT / Hospitality / Aviation /Telecom and Retail.
• RecruitmentThe company helps connecting the right talent with the right organisation.
From business analytics to collaboration solutions and customized enterprise applications, i tech Solutions helps you connect people with the information, tools and processes they need to get work done—and make your business thrive. This begins with a complete understanding of the Company’s information technology situation, objectives and
When you need help finding, recruiting and selecting top Corporate / MNC / BFSI / Insurance / KPO / BPO / IT / Hospitality / Aviation /Telecom and Retail. Talent, call on your partners at i tech Solutions. The company provides recruiting solutions for an entire spectrum of Corporate / MNC / BFSI / Insurance / KPO / BPO / IT / Hospitality / Aviation 31
Remarkable Stories of Determined Business Leaders /Telecom / Media and Retail. Their recruiting professionals apply the same disciplined and rigorous recruiting approach to your search that we use for our own internal talent searches. “Your business always receives dedicated attention and personalized service – from the initial request to the search, offer and acceptance phases.” Recruiting at i tech Solutions, they have recognized that quality recruiting is the bedrock of a successful business. The four-step process of recruitment is-
• Best Service Provider in HR Award in 2019 ( In India among 133 Country ) • Best Overall Recruiting and Staffing Company Award in 2019 in Abu Dhabi.
ashmi makes his intention clear by saying, “With economic growth the standard of living of people has also improved. People now look for quality rather than quantity and every field he caters into would possess quality over quantity.”
• Write up in Achievers World Magazine about Mr. Hashmi • Biography or Journey in Insight Success Magazine • Got offices across India and in Dubai as well in 13 Years.
• Requirements and candidate matching • Preliminary Screening • Skills Evaluation • Reference verification These processes are used by i tech’s recruiters to ensure only qualified, compatible applicants are selected. Working with their team of dedicated recruiters, the company take your requirements and compare them to their large pool of available resources, increasing the likelihood of finding the best suitable match. It so happens sometimes that a few things are uncertain and the companies may not want to hire permanent staff. That is when they approach for temporary staffing solutions. iTech Solutions also specializes in Temporary Staffing services. A few of their achievements include• Best Staffing Organization/ Firm Award in 2018 ( In India among 133 Country )
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November 2019
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Remarkable Stories of Determined Business Leaders
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r. Prakash Sinha FCA and Mr. Sachin Sinha FCA founded Prakash Sachin & Co. in 2004. It is a reputed firm of Chartered Accountants with a perfect blend of experienced & young minds, an active and talented team with a robust network of Associates. As of today, the firm has a team size consisting of five partners and more than 35 professionals working with it and the numbers are increasing day by day. The firm has Head Quarter in New Delhi and its offices are in Mumbai, Kolkata, & Jharkhand. The firm has also marked its presence overseas through its associates in different countries across USA Europe, Asia, and Latin America. What they offer • FEMA & RBI Related Advisory The firm has a dedicated team to work on the foreign exchange regulation and FIPB approvals. Since India has a liberalized current account regime, the firm has expertise in the matter of foreign
exchange transactions related to the Non-resident, Nonresident India (NRI) and PIO. The firm provides its services in the capital account transaction covering from FDI approval, ECB and other securities issue related transaction, incorporation of WOS, Joint Venture, share valuation and allotment, FCGPR and FLA filing, establishment of Liaison office, project office, Branch office, and any other exchange control matter. • Income Tax The organization engages in an exceptionally sophisticated, broadbased tax practice, touching many different economic sectors under the different situations of changeability, attribution, Capital Gain, incentives, deduction, and exemption. It practices in all Income Tax related issues including Assessment, Representation, Certification & Litigation related issues. The firm provides representation services before the different judicial forum. Further, the firm also provides its professional services in the matter
related to search and seizure and its related assessment. The firm is actively involved in providing taxrelated advice on acquisitions, mergers, demergers, absorption’s, slump sales, reorganization and restructuring of businesses. The firm advises on the exemption and incentive related issue under the various providers for the Industrial undertaking, infrastructure facility and for the units under the SEZ, EPZ, EOU, STPI and suggests the various compliance norms. The firm has a specialization in the taxation issue arising of offshore or onshore turnkey contracts in the power sector, Oil & Gas Sector & Infrastructure projects like Roads, Airport, Dam and port, etc. • International Tax & DTAA Matters The firm provides the Services of advisory and litigation in Income Tax matters covering International Tax and tax relief under various DTAA (Double Tax Avoidance Agreement) which India has entered into with various countries. The firm practices on the cross
PRAKASH SINHA & SACHIN SINHA “Delivering Solutions – Professionally”
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November 2019
PRAKASH SINHA
SACHIN SINHA
Partner
Partner
Prakash Sachin and Co Prakash Sachin and Co border taxation issue arising from the Indian Income Tax Act and its covering Direct as well indirect transfers of securities, FTS & Royalty issue, movable & Immovable property-related issue, Business Connection issue, Permanent Establishment under DTAA, attribution, computation, exemption, and deductions. The firm practices on the triangular issue of taxation with a focus on independent personnel, professionals, Athletes, Artist, sportsmen and Government and Diplomatic consulate and UN and World Bank staffs. The firm handles the issue related to FIIS. The Partner of the firm is a member of the ITAT (Income Tax Appellate Tribunal) Bar Council and regularly appears in appeal matter before it. Apart from this the partners also appear before DRP, CIT (A), & AAR. • Transfer Pricing – Study Report and Litigation The firm is engaged in the Transfer pricing audit and preparation of the transfer pricing study report covering the international transaction as well as Domestic Transaction. The partner of the firm appears before the Dispute Resolution Panel and Tribunal to represent the matter. The firm undertakes the assignment for the determination of the arm length pricing for both the tangible and intangible related matters covering www.theenterpriseworld.com
intragroup services and shared services. The firm intends to represent the client in the APA (Advance Pricing Agreement) related matter covering both the unilateral and bilateral matters and appear before the competent authority appointed under DTAA. • Customs, Central Excise Service Tax & SEZ, Foreign Trade Practice Related Issue The firm practices in the Central Excise matters, CENVAT Credit Rules, Customs matters and its regulation, Service Tax Matters and other matters of indirect tax. The firm has successfully handled various matters of product classification, valuation, and CENVAT credit. The firm guides its associates about the various exemption /incentives/abatement available vide different notification or circular to the different sectors/area and helps the client in defining their Business Policies and model towards efficient tax planning. It provides the services on the statuary matters related to the units in SEZ (Special Economic Zone), STPI (Software Technology Park), EHTP (Electronic Hardware Technology Park), EOU (Export oriented units) and DTA (Domestic Tariff Area). • Goods & Service Tax The Goods and Service Tax is a new law that is expected to be implemented in India and it will
subsume the existing law of Excise, Service Tax, Central Sales Tax and State VAT. As of now the firm practice in the matters related to Central Sales Tax and State VAT including the Excise and Service Tax and has kept itself associated with the proposed changes and its effect with advisory and planning. The firm provides advisory services, representation services, compliance services, and litigation related issues. The firm undertakes appeal matters related to State VAT and CST before the Commissioner and Tax Tribunal level whereas it has a team of advocates who can take up the matter in the higher courts, in various cities in India where the firm does not have the physical presence. • Corporate Matters Corporate and Commercial Law practice is at the heart of the organization. With the New Companies Act becoming effective, rules being notified and the further amendment has also been notified, the law has become more dynamic and needs a dedicated team of professionals to attend the issues and moreover the compliance, disclosure, and reporting. The practice in the firm provides advice on various compliances required by the various committees including the audit committee, related party transaction , Board meeting , 35
Remarkable Stories of Determined Business Leaders quorum , general meeting of the members , meeting of the creditors , voting issues , Independent director issues , management issue , accounts and auditor related issue and various broad spectrum of matters, ranging from general corporate advice, corporate governance, company formations, contract law, and exchange control regulations. As the compliance and disclosure are two important aspects of the New Companies Act, the firm provides professional services on this aspect as advises its associates on the related compliance and forms that are required to file with ROC. • Auditing & Assurances The firm has diversified experience in auditing like Statutory Audit, Internal Audit, Stock Audit, Transaction Audits (TVA) of various Corporate & Non Corporate clients. The firm has been conducting the statutory audit as well as the internal audit of some reputed clients from the Manufacturing Industry, Construction Industry, Service Industry, and Institutions, etc. The clients’ list includes both corporate as well as non-corporate entities spread over in different product/services segment. In FMCG Sector the firm provides the services of internal audit/stock audit of manufacturers of Branded readymade garments, Health care products, pharmaceutical items, fresh food products, and leather items & its related footwear products. In addition, the firm is engaged in the internal audit of BSE/NSE listed Infrastructure construction companies and companies in the IT/ITES sector.
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• Bank Audit The firm is impaneled with RBI. The level assigned is level –II. The firm is the statuary Branch Auditor of State Bank of India since the last successive six years. Apart from the Statuary Audit, the firm is impaneled with Allahabad Bank, Oriental Bank of Commerce, Bank of Maharashtra and other Public Sector Banks for their Revenue, concurrent and stock audits. In private sector Banks, the firm is the authorized credit monitoring agency appointed by ICICI banks, AXIS Bank and HDFC Bank which involves the continuously supervise the borrower’s accounts on behalf of these banks in terms of Units inspection, stock verification, ROC search, etc. and other assignments as provided by the Bank. Professional Experience Prakash Kumar Sinha (FCA) • He has post qualification experience of about 18 years. • Master in the Taxation advisory and litigation services, Business Advisory Services, Management Consultancy services covering the whole Corporate & Commercial matters and regulatory issues. • Expertise in the FEMA, Corporate law matter, Taxation matter including the International Tax and Transfer pricing matters • Holds certificates from ICA about Int. Taxation and transfer pricing. • He Was a member of the Research Study Group constituted by the Northern India Regional council of ICA. • Diploma in Information System Audit (DISA).
• Completed the course of IFA (International Fiscal Association) Delhi Chapter about International Taxation and Transfer Pricing. • He is LLB and advising the client in various legal and regulatory matters successfully. Sachin Sinha (FCA) • Experienced in Taxation, Auditing and Management Consultancy. • Expertise in the direct Tax, Corporate, Secretarial, and Commercial issues. • Certified by Institute of Chartered Accountants of India about International Taxation and Transfer Pricing. • Completed the course of International Fiscal Association, Delhi Chapter about International Taxation and Transfer Pricing According to them, every entrepreneur should know his following responsibilities. • Entrepreneur promotes capital formation by mobilizing the idle saving of the people. • They create immediate and largescale employment by establishing small- scale enterprises. Thus, they reduce the unemployment problem in the country i.e., the root cause of all socio-economic problems. • They promote balanced regional development by establishing small scale enterprises in rural, remote and less developed regions. • Last but not least, they encourage and promote the country’s export business i.e., an important ingredient to economic development.
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HOW DOING IT ALL GETS NOTHING DONE 38
November 2019
D
o you think you are a multi-tasker? Well, it’s time to rethink that!
Do you also have the habit of reading and listening to some music? Or even texting in a meeting? These tasks are so mundane that we hardly think that we are multi-tasking. But indeed, even these count as multi-tasking. Among many of the researches done in neuroscience, one of them tells us that our brain is not functioned to do tasks simultaneously. We think that it is possible for our brain to multi-task, when in reality it is just impossible. Although, what our brain does is switch through tasks really quickly. So when we are listening to music, and a text pops up and we proceed to reply to it, there is a quick start/stop process that goes on in the brain. As quick as it may sound, it is in fact quite inefficient and timeconsuming. With a start/stop process going on every few seconds, we tend to make more mistakes in which we end up spending more of our energy than required. If you still can’t believe it, take this simple test. • Take a piece of paper and draw horizontal lines on it. • Now carry out the following two tasks while having someone time you• On the first line write- ‘I am great at multi-tasking’ • On the line below write down numbers from 1 to 20.
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This is a simple process and will normally take you about 20 seconds. Now it’s time to multitask. • On a different piece of paper, draw some horizontal lines and have someone time you again this time. • Only this time, write a letter on the first line and a number on the line below. Meaning, first write ‘I’ on the first line, then write the number ‘1’ on the line below and so on and complete both the lines. And now observe the time taken. It will definitely take you double time as compared to the first round. You would have made some errors and it will leave you more frustrated. It is because every time you switched from writing letters to numbers, you had to rethink what the next letter was or what the next number was. And this is exactly what happens each time we try to do many things at the same time. The brain takes time to think on what the next task is, or what the previous task was every time you switch tasks. This obviously leads to many more mistakes and delays the time it would have taken originally. So the next time you are multi-tasking, note that you are just switching through different tasks really quickly. Instead, focus on just one task at a time, this will improve the efficiency of those tasks and will also cost you a little time.
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Did You Know?
Early Monopolies I
n many cases, we can say that monopolies have been important for getting large jobs done, but at the same time these monopolies have also been known for misusing the power that makes them so effective. Let us walk through the history and discover the roots of this vision.
When Small Business was All Business In most of the human history, the formation of such powerful monopolies was usually prevented by the limitations on transportation and communication. As a result, most businesses had a limited reach, say to a village or just the neighbourhood. The shipping of goods by horses, or by boat was possible, but that was often more expensive than the business itself. For this, most of the businesses enjoyed this monopoly in their regions. But, there also were restrictions to the extent to which they could fix the prices of the commodities given the fact that people could buy those goods anywhere else for cheaper prices. Also, as most of these businesses were usually family operations, quality of the goods was prioritized 40
rather than the quantity. Mass production came into practice only after the industrial revolution. The Ancient Rome The Roman Empire has given the world some of the best and the worst It was the time when many nobles and senators took the empire further, by shipping salt, marble mining, grain crops and many other commodities of the Roman Industry. These senators were responsible for reporting the revenues and were also responsible for assuring a steady supply, but were involved in the business only for the profits. And in many of the cases, the labor was supported by slavery and these monopolies helped to expand the Roman infrastructure at an amazing speed. Although, these monopolies also caused a lot of problems as it gave the citizens too much power who then used bribery to climb their way up the ladder.
Monarchy and Monopoly If you think that monopoly is a modern term, it is not so. Some of the greatest monopolies were created by different monarchies in
Europe. The feudal lords wrote charters that granted land holdings and revenues to the loyal subjects in the Middle Ages. However in the late 1500s, these royal charters extended into private businesses. Then again, many monarchs granted the royal charters the exclusive shipping rights to private firms.
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The Government and Business The British East India Company proved to be an exception as it was associated with the growing British government. It also acted like a nation with an army to itself. The British East India Company and the British Government grew inseparable as many of the investors involved were also the www.theenterpriseworld.com
political pillars of Britain. And just like the Roman Empire, the company suered from its own success. Even though they earned years of huge revenue, the company faced bankruptcy. As a result, the British government then formalized its relationship with the British East India Company and set a series of rules and regulations.
Concluding, the economic prosperity enjoyed by England was because of the one-way trading systems imposed by the British East India Company around the world. It is diďŹƒcult to say whether this monopoly created the British Empire, but surely, it did sustain it.
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Remarkable Stories of Determined Business Leaders
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r. Rajinder Singh is the founder and Managing Partner of Lex Jurists Advocates & Solicitors. He has extensive experience in criminal litigation and has served as a counsel in the some of the most publicized cases in India. Over the years, Mr. Singh has earned a formidable reputation in criminal law practice. He has been the Legal Coordinator of Rape Crisis Intervention Centre of Delhi Police for 8 years. Moreover, he holds the distinction of having been regularly featured in many Criminal Law articles and papers published in leading magazines and international journals including the Washington Global Post. Mr. Singh is a prominent speaker and has moderated various conferences in India and abroad, has successfully contested cases at the London Court of International Arbitration (LCIA), led Corporate Fraud Investigation Teams in Cyprus, and is regularly engaged as a counsel for commercial disputes in Dubai. In addition, Mr. Singh led a team of Counsels to Spain and United States of America to engage and negotiate with law ďŹ rms for ďŹ ling and contesting law
RAJINDER SINGH An eloquent leader in legal practices
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November 2019
MR. RAJINDER SINGH Founder & Managing Partner Lex Jurists suits/ criminal cases for various clients, and there is much more to add to his achievements. The Firm Founded in 1993, Lex Jurists is a full-service law firm and deals with civil as well as criminal litigation across district courts, high courts, and the Supreme Court of India. The lawyers at Lex Jurists have extensive experience in advising Indian as well as international clients which include leading corporates and high-net-worth individuals. They have successfully undertaken many significant cases and their lawyers hold the distinction of contesting several landmark cases. Team Lex Jurists believes in maintaining the highest level of integrity and people-oriented approach. They ardently follow the principle of “clients first” in providing reliable and highly effective services. Clients find the lawyers of this firm to be incredibly diligent and experienced in their respective specialities as they provide rational advice and guidance every step of the way. Key Achievements The firm has many awards and accolades to its credit. • Mr. Rajinder Singh was honoured with the award of “Excellence in Criminal Litigation” at the CXO + GC Leadership Summit 2018. www.theenterpriseworld.com
• Lex Jurists has been awarded with “Criminal Litigation Law firm of the Year 2018”, from the distinguished panel consisting of Mr. Soli J. Sorabjee, Indian Jurist and Former Attorney General of India; Mr. Tushar Mehta, Solicitor General of India; Mr. Lalit Bhasin, President, Society of Indian Law Firms; amongst other distinguished panelists. • Our firm also received an award for the “Ten Most Recommendable Corporate & Commercial Law Solutions Providers of India” by Insights Success. • Managing Partner, Mr. Rajinder Singh received the award from former Chief Justice of India, Hon’ble Mr. Dipak Misra for ‘Best Lawyer in Matrimonial Law’ at the “India Ahead: Leading The New Age Economic Laws Summit and Achiever’s Award 2019” organised by Legal League Consulting. • Mr. Singh was appreciated by the Business Sight Magazine under “Top 10 Enterprise Service Provider Companies 2019” for valuable contribution as a leading company with excellent magnification, business practices and professional dedication. • Lex Jurists received an award from Mr. Soli Sorabjee, eminent jurist and former Attorney General of India; and Mr. Tushar Mehta, Solicitor General of India for “Best Law Firm: Prevention of Sexual
Harassment of Women at Workplace (PoSH) Act” at the 5th Edition - India Legal Summit & Awards 2019 organized by Biz Integration supported by Society of Indian Law Firms. • Founder and Managing Partner, Mr. Rajinder Singh was honoured as “Shining Star of the Indian Legal Fraternity” by Hon’ble Justice Mukhopadhyay, Chairman of National Company Law Appellate Tribunal (NCLAT); and Mr. Ramesh Gupta, Senior Advocate, at the NextGen Legal Rumination Summit organised by the Corporate Counsel Association of India. Strengths This firm’s greatest strength is their team of hard-working lawyers who make every effort to achieve positive outcomes. Today, as the firm grows, its goal is to sustain their high standards of performance and deliverables, while ensuring an enabling work environment for their lawyers. The firm values the story of every person walking through their doors, and takes the time to nurture them until they mature and reach a safe shore. Above all, they pride themselves in taking a holistic approach while dealing with cases, ensuring deep respect and sensitivity towards their clients. Services • Criminal Litigation 43
Remarkable Stories of Determined Business Leaders Lex Jurists deals with various criminals cases related to cheating, forgery, criminal breach of trust, misappropriation, cyber-crimes, corporate fraud, negligence, counterfeit currency, offences involving weights & measures, Motor Vehicles Act, Negotiable Instruments Act, Legal Metrology Act, Rules and Enforcement Directorate cases, Central Bureau of Investigation cases; to name a few. Particularly, they specialize in cases related to economic offences and serious frauds. • Civil Litigation They deal with a wide range of civil matters related to commercial disputes, property disputes, civil recovery proceedings including suits for injunction, partition, specific performance, wills, probate, succession, surrogacy, adoption, cases under Rent Control Act, and Insolvency and Bankruptcy cases. Moreover, the firm regularly contests and defends many major private equity funds throughout India. • Matrimonial Practice Resolving matrimonial disputes is a core practice area of this firm and a team of dedicated experts lead this practice. Lex Jurists has a diverse matrimonial practice which includes, but is not limited to divorce, maintenance, domestic violence, dowry, and custody matters. Their team has successfully handled many of India’s most high-profile and publicized cases of domestic violence. They also hold the distinction of contesting several landmark matrimonial cases under Sections 14, 13 and 24 of the Hindu Marriage Act, 1955 as well as Section 125 of the Code of Criminal Procedure, 1975. The 44
lawyers of Lex Jurists are adept at the working and nuances of the laws relevant to matrimonial matters, particularly the Hindu Marriage Act, 1955, Protection of Women from Domestic Violence Act, 2005, and the relevant provisions of the Indian Penal Code, 1860, and Code of Criminal Procedure, 1975. • Prevention of Sexual Harassment at Workplace (PoSH) Act matters Lex Jurists extensively deals in cases involving sexual harassment at workplace. Their team has a nuanced understanding of the Sexual Harassment of Women at Workplace (PoSH) Act, 2013 and has successfully contested several cases throughout India under the said law. They have successfully advised and assisted various national and multinational companies in minimizing the risk of workplace sexual harassment. The firm also specializes in drafting comprehensive sexual harassment policies and conduct trainings for various corporate clients. • Arbitration, Mediation & Conciliation Lex Jurists has a thriving alternate disputes resolution practice. They handle arbitration matters both in India and abroad, including the London Court of International Arbitration (LCIA). They have been successful at resolving various matters through mediation and conciliation. Their lawyers are well-experienced and thorough with the procedures involved in arbitration, mediation and conciliation. • Due Diligence / Compliance and Regulatory Lex Jurists provides exhaustive
legal due diligence services so as to minimize potential risks for our clients. Their team has the expertise of tackling compliance work in a comprehensive yet time-efficient manner so that crucial deadlines are duly met. On a regular basis, they successfully undertake extensive compliance and regulatory work for leading national and international companies. • Registrations The firm offers comprehensive professional services to its clients for obtaining registrations under various local and central laws, including but not limited to, trade licenses, Shops and Establishments Act, Legal Metrology Act and other legal documentation etc. They ease the tedious process of registrations for their clients by procuring timely approvals. • Trainings and Presentations They also offer trainings and presentations on various legal aspects. In the past, Lex Jurists has been engaged by various clients for conducting informative training sessions on detection of fake currency notes, protection of children from sexual offences, sexual harassment at work place, domestic violence, procedure of civil and criminal trials in India, and labour laws. Team Lex Jurists strives to deliver high quality legal services, keeping in view the time and cost efficiencies for their clients. They are a premier Indian law firm comprising a team of highly competent, well experienced and dedicated lawyers, with a primary focus to provide pragmatic, solution-oriented and technically feasible advice while ensuring efficacy.
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Malika Sadani Founder & CEO The Moms Co. 46
November 2019
Malika Sadani THE Moms Co. Made With Love
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mother’s love is indefinable, it knows no bounds. She always wishes the best for her baby, and how can she compromise on the quality of the products she will use for her baby? “I am an obsessive mother, always have been”, says Malika Sadani, “I'm sure there are enough moms like me who want the best for themselves and their babies and hate having to compromise on the safety of the products they use for themselves and their family.”
Her quest has got her to use the best pregnancy and baby care products available globally, and at The Moms Co., her constant endeavour is to create the same high quality natural products in India. Being candid with Malika Sadani on her journey of Moms Co, she saidThe Moms Co. was started in 2016 with a mission to create natural, safe and toxin-free products for moms, babies and moms-to-be. With experts across India, Australia and Switzerland we have created a range of Australian-Certified ToxinFree™ & Made Safe™ certified products that are made to solve common concerns that mom face such as stretch marks and swollen
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feet during pregnancy, sore nipples during breastfeeding or dry skin in babies. When we started out, we had a small team of four people with four products which have now grown to over 40 full-time employees and 26 products! What started as a vision to help provide safe and natural products for my daughters has evolved and reached out to over 5,00,000 moms in over 100 Indian cities and towns. And when challenges knocked the door, Malika had the best way worked out to tackle them, and make the company stand strong. When asked about what challenges she faced and how she managed through, she said, Initially, it was getting people to align with our vision. Since we are very conscious of our product formulation and global standards, they had to adhere to our standards and in a way that wasn’t done before. However, over the last 3 years, we have come a long way. People have now started believing in our vision of creating highquality products that don't compromise on the integrity of any ingredient or product we make. As the company evolves, so do our challenges.
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Interview with The Enterprise World We never compromise on the safety and efficacy of the ingredients that make up our products. Our relentless focus on the quality of our products means that we don’t launch our products unless they have passed all the tests successfully and we are convinced as well. Our brand caters to a need that's still untapped - skin, hair and face care for pregnant women and new moms as well as natural and toxinfree personal care products for babies. As such, we have always relied on word-of-mouth; moms act as our biggest ambassadors and help us bring in other moms. It has helped us immensely in generating interest and acquiring new customers. And what products does Moms Co. focus on? The Moms Co. products are primarily aimed at solving concerns such as hair fall after delivery, pigmentations and blemishes, stretch marks and dry skin. Our products are made with natural ingredients and we don’t compromise on the safety and efficacy of the ingredients. All our products are Australian-Certified Toxin-Free™ & Made Safe™ which ensures that moms can use these products on their little ones without the worry of toxins. The next few months will see us launch products in various categories such as skincare, baby care and personal care. We are constantly listening to what moms have to say or would like us to make solutions for and we aim to incorporate that feedback in the products we launch. We are also launching a plastic recycling 48
program to give our customers plastic neutral shopping experience.
natural, safe and effective solutions for themselves and their families.
We work to solve concerns that moms would face and also make it easy for them to find us which would require our products to be accessible easily. We are looking forward to reaching out to more moms and making our presence felt in offline stores and marketplaces.
The fact that we have an opportunity to make a difference in the lives of moms and babies drives us. When moms write back saying they could breastfeed only because our nipple butter, it keeps us going on our mission to help moms make safe and natural choices for themselves and their family.
When talking about leadership, how difficult it was breaking the stereotype, Malika said“Everyone believes they can run a business these days” to “Aap company chalaoge?”. But I have come a long way in the last 3 years, from fighting people to take me seriously to getting people to imbibe the mission and ensure that it reflects in everything we do. Entrepreneurship has made me resilient. Initially, it was difficult for me to get people to take me seriously as a business person. And what inspired to start Moms Co.? She saysThe Moms Co. came about from a personal struggle to find safe and natural products for my daughters. When my elder daughter had her first skin reaction, I realised it was difficult to find good quality natural products for babies in India that were both safe and effective. I used to ask friends and family coming from abroad to bring natural baby products. However, after speaking to over 200 moms, I realised that they too face the same problems. That was when the idea to create a brand that is truly a moms’ partner on their journey into motherhood came alive. I started The Moms Co. with a mission to help moms make
Her views on the growing competition there isThere are three mantras that I follow which have helped me immensely - discipline, routine and prioritizing. Since both my daughters and my venture are young, they need my undivided attention. Having a strong support system at home and a set routine for my daughters ensures that I am able to align my work and not miss out on an important event, both at work and at home. Throughout my journey as an entrepreneur, I have learned to delegate and ask for help. I think with time I have learnt to work together to manage the two. The fact that my daughters take immense pride in my work enables me to push forward and achieve my goals. It’s more important to lay out goals and clearly communicate expectations. Once everyone’s on the same page, it is more about empowering the team to achieve those goals as per the standards that are followed across the organisation. “Your biggest learning comes from your biggest failures. I try and imbibe this quote in every aspect of my life.”
November 2019
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How to Optimize Your Daily Decisions
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here’s nothing surprising in the fact that our daily decisions are shaped by the world around us. We often buy products that are at eye-level. Meaning, we tend to buy products from where they are. This kind of a purchase habit is just one of the many examples. Now why is this important? Why must something go on the shelf at an eye-level? Why must something be the default choice? This is true, and not just for the stores, but for every decision we take in our everyday lives. Now think about this, what if we optimize our default choices rather than just accepting whatever is at hand? Won’t it be easier to lead a better life? If you look at it, we do have a wide range of choices at any given moment. But we choose to make decisions based on the environment we are in. Our default decisions are designed throughout our personal and professional life. For instance, consider this, if we sleep with our phone next to us, then checking the social media is more likely to be our default decision when we wake up in the morning. Well, there obviously can be a few positive default decisions too. The important thing to note here is that you can be the architect of your 50
choices; you can design your default. Here are a few steps on how you can do itOne of the solutions is to keep it simple. Eliminate all the other options when you have a doubt. So if your kitchen is filled with junk, your default decision is to eat that junk food. So if you want to eat healthy, the simple choice is to eliminate the option of junk food. Same goes with work, if you can’t focus on something at work, close the remaining tabs and that way you can concentrate properly. Multitasking is just a myth and if you go for that, you will just lose your focus. It’s a simple mantra, when in doubt, just eliminate! Another way is to use visual cues. This method will create an environment that will nudge your actions into the right direction, visually.
more mental clarity, you can practice meditation every day. That will keep you calm and relaxed and will help to make better decisions. Concluding, default choices need not necessarily be wrong. But the world is not designed with your choices in mind. And so you should be very careful of accepting your default choices; accept it as if it were your optimal choice.
While these are the ways you can design your decisions relying on outer sources that affect you; to become a better decision maker, one of the better things you can do is trust yourself completely. It is a skill and requires some bravery, but if you are willing to trust yourself and believe that everything will turn out to be good, then you are definitely on the right track. For November 2019
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