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THOUGHT OF THE DAY

THOUGHT OF THE DAY

“All our dreams can come true if we have the courage to pursue them…”

Law Updates:

The Union Cabinet chaired by the Prime Minister Shri Narendra

Modi has given its approval for the protocol amending the

Agreement between India and Kuwait for the avoidance of double

taxation and the prevention of fiscal evasion with respect to taxes on

income.

The Reserve Bank of India has said that it could permit promoters,

or investors to own more than 10% stake in a bank if the applicant

meets certain conditions including if ‘it is in public interest’ and in

the ‘desirability of diversified ownership’.

Settlement Commission is entitled to exercise its discretion in

imposing penalty on company as well as against its directors on

recording elements of mens rea in concealing duty liability.

PROFESSIONALS INPUTS:

RBI vide Notification No. RBI/2015-16/242 DBR.RRB.BC.No.

59/31.01.001/2015-16 dated 19th November, 2015 decided to allow

RRBs to extend the facility of internet banking to their customers.

Government has extended the time limit for establishing 'Central

KYC Records Registry' under PMLA norms vide Prevention of

Money-laundering (Maintenance of Records) Fourth Amendment

Rules, 2015 dated 18th November, 2015.

CBEC vide Notification No. 51/2015-Custom dated 19th November,

2015 seeks to further amend notification No. 12/2012-Customs

dated 17.03.2012 so as to increase the basic customs duty on wheat

[CTH 1001 19 00 and 1001 99 10] from the present rate of 10% to

25% for a period up to and inclusive of 31.03.2016

MARKET WATCH:

SENSEX: 26042.28 197.20 NIFTY: 7901.45 57.65

SILVER: 33928.00 98.00 GOLD (MCX): 25405.00 114.00

USD/INR: 66.06 -0.03 CRUDE OIL: 2793.00 17.00

CS Rajiv Bajaj

9811453353

Bajajr66@gmail.com

youtube.com/csrajivbajaj

https://www.facebook.com/Rajiv1Bajaj

http://www.csrajivbajaj.com

Date: 20th November, 2015

www.csrajivbajaj.com

Walt Disney

Co-founder of Walt Disney Productions

Walt Disney and his brother Roy co-founded Walt Disney Productions,

which became one of the best-known motion-picture production

companies in the world. Disney was an innovative animator and created

the cartoon character Mickey Mouse. He won 22 Academy Awards

during his lifetime, and was the founder of theme parks Disneyland and

Walt Disney World.

Early life Walter Elias "Walt" Disney was born on December 5, 1901, in the Hermosa section of Chicago, Illinois. His father

was Elias Disney, an Irish-Canadian, and his mother, Flora Call Disney, was German-American. Disney was one of

five children, four boys and a girl. He lived most of his childhood in Marceline, Missouri, where he began drawing,

painting and selling pictures to neighbors and family friends. In 1911, his family moved to Kansas City, where

Disney developed a love for trains. His uncle, Mike Martin, was a train engineer who worked the route between Fort

Madison, Iowa, and Marceline. Later, Disney would work a summer job with the railroad, selling snacks and

newspapers to travelers.

Disney attended McKinley High School in Chicago, where he took drawing and photography classes and was a

contributing cartoonist for the school paper. At night, he took courses at the Chicago Art Institute. When Disney was

16, he dropped out of school to join the army but was rejected for being underage. Instead, he joined the Red Cross

and was sent to France for a year to drive an ambulance.

Career

Walt Disney started off as a farm boy drawing cartoon pictures of his neighbor's horses for fun. When he was older,

Walt tried to get a job as a newspaper cartoonist, but was unable to find one and ended up working in an art studio

where he created ads for newspapers and magazines. Eventually he grew to work on commercials, became interested

in animation, and eventually opened his own animation company.

Disney's first original character creation was Oswald the Lucky Rabbit, but it was officially owned by Universal

Pictures because he was working under contract at the time. When Walt walked out on Universal Pictures after

getting a pay cut, he needed to create a replacement, which is how Mickey Mouse came into being.

Disney was wildly successful with his animation company, but he wasn't satisfied. He was determined to make the

biggest and greatest theme park ever seen, saying to a colleague, "I want it to look like nothing else in the world."

One of the biggest entertainment moguls of all-time, with an unrelenting spirit and commitment to his vision, Disney

is undoubtedly an entrepreneurial all-star.

Disneyland

Disney's $17 million Disneyland theme park opened on July 17, 1955, with actor (and future U.S. president) Ronald

Reagan presiding over the activities on what was once an orange grove. After a tumultuous opening day involving

several mishaps (including the distribution of thousands of counterfeit invitations), the site became known as a place

where children and their families could explore, take rides and meet the Disney characters. In a very short time, the

park had increased its investment tenfold, and was entertaining tourists from around the world. With the original site

having some attendance ups and downs over the years, Disneyland has expanded its rides over time and branched out

globally with parks in Tokyo, Paris and Hong Kong, with a Shanghai location slated to open in December 2015.

Sister property California Adventure also opened in 2001.