Hi Folks
The tender coconut in the picture looks refreshing and inviting, promising to be a reprieve in this oppressive summer weather. The coconut vendor didn’t aggressively market her stock to my friend a couple of weeks back. She didn’t claim any special quality nor offer lower price nor entice him with a ‘buy 1 get 2 free’ offer. Not even a warranty replacement against a claim. What this simple, uneducated woman did was beyond that, a lesson in customer service and business ethics. Is the suspense increasing ? Read on……..
A die-hard Bangalorean friend of mine who now lives in a different city was in Bangalore a couple of weeks back. As he was sipping from a tender coconut that he bought one hot afternoon, he noticed that the woman selling the coconuts started breaking open one more fruit without his asking for it. He was upset thinking she was trying to push one more to make money. He gestured her to stop and refused to buy the other fruit. But the poor woman kept insisting that he have one more. His temper shot up under the soaring sun but slowly he understood what she was trying to convey though he could manage only a smattering of her language. She was asking him to throw that fruit and drink from the new one instead since the first one didn’t seem of a good quality. She wanted him to enjoy coconut water from a better quality fruit. When my friend realized her intentions, he was touched and offered to pay for the 2nd coconut but the woman refused to touch money. She said she was in the business of selling good quality coconut-water and it would be against her principles to accept money for a rotten coconut. It is her duty to ensure that her customer is satisfied and happy. My friend who is in the top management of a multi-million dollar conglomerate felt small, really small and cursed himself at misjudging her initially. But he was touched and inspired nonetheless. He walked away ruminating on the service levels and business ethics of this nameless vendor. A lesson or two here for all of us ??
Contrast this with some reputed companies who sign SLAs (service level agreements) but do not care to listen to the customer, leave alone proactively ‘fixing the bugs’ or replacing the defective parts. It is a herculean task even to get to their helpdesk or customer care center and thereafter it becomes a nightmare. ” You are what you do, not what you say you’ll do.” Action speaks louder than words !
Friends, lessons are aplenty from our everyday lives. We need to be aware, alive and adaptive to things around us. Do take time to also read and be aware of the regulatory changes, tax due dates and a few nuggets of wisdom, that Lexspeakcarries.
To read the earlier issues and articles of Lexspeak Click Here

Warm regards

Post the interactive session held by MCA with the professionals across cities, facilitated by Infosys Limited as a service provider for the MCA21 Project, Regulation 17(6) has been relaxed. The ROC (Registrar of Companies) can now create ad-hoc work items in order to extend the time limit of work item under Section 17(6) of Companies Regulation, 1956. However, the ROC is required to intimate the Regional Director every fortnight for creation of such ad-hoc item.

Processing time will surely be reduced at the ROC offices.

Hereinafter Banks shall impose cheque return charges only in cases where the customer is at fault and not for delay by the banks in representation of cheques. Cases such as wrongly delivered cheques, items listed twice, unclear image, failure in digital signature validation etc., have been listed as instances where costumers are not at fault. RBI has issued an illustrative list of such objections for banks to consider while imposing cheque return charges.
Income Tax (3rd Amendment) Rules, 2013 relating to Return of Income has been notified effective from 1st April, 2013.
The time limit for utilizing the amount of re-credited 4% SAD (Special Additional Duty) refunds for payment of duty under Reward Scheme Scrips is extended from 30th June 2012 to 30th September, 2013. The time limit in case of pending applications for refund of 4% SAD shall be upto 30th June, 2013. However, this shall be final extension of time limit for reusing the scrips.

Services related to construction of any complex, building, civil structure intended for sale will attract service tax

  • in respect of 25% of value of such service if the construction is for a residential unit of less than 2000 sqft area and the price is less than one crore.
  • in respect of 30% of value of such service in all other cases.

This is likely to reduce the cost for small residential units.

Ms. Divya Joshi, a CS Trainee has attempted a write up on “Illustrative Agenda items for Board Meeting and Shareholders Meeting” which helps the Directors and CEOs of the Company to understand the matters to be discussed in the Board Meetings and Shareholders Meeting.
Note: The contents of this
Newsletter are only a summary and has not dealt with any issue in detail. Any action
taken or proposed to be taken must be in consultation with professionals and not
merely based on the articles / news updates. Lex Valorem disclaims all liability
on action taken without professional advice.

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