CCCI Newsletter Jan 18 CCCI Newsletter … · endeavour to create value, deliver results, and...

CHRISTIAN eNTR PR N URe e e

Monthly News Bulletin of Christian Chamber of Commerce and Industry

Rs.5/-Monthly Newsletter January 2018 • Volume 2 • No. 3

2 Christian Entrepreneur � January 2018

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CORE VALUES OF AN ENTREPRENEUR

Ethics:

Partnership:

Trust:

Personal Integrity:

Quality:

Innovation:

Lawrence Coelho

customers. Entrepreneurs aim to be creative, effective, and efficient within their company to help create inspired, visionary solutions for our business partners.

Every entrepreneur should have a magic Entrepreneurs firmly believes that a strong moral

code by which they conduct businesss. code is a key component towards earning trust in their

Its so important to believe in what you are business, both internally and externally. They strive for all

doing and set your path using values aspects of their company such as people, ideals, functions,

which others also work with.and outputs to uphold the highest possible moral

The success of an competency and responsibility. Entrepreneurs are steadfast entrepreneur is largely due to the partnerships they forge. in practicing and observing the ethical and moral principles.The intellectual capital and passion entrepreneurs display

Trust is one of the foundation stones of being an on a daily basis are key drivers in achieving their

Entrepreneurs. It begins with their co-founder, investors, partnerships with employees, customers and other

employees and depends on the reliance, partnerships, and businesses. They highly value and respect the people who

successes they share with customers. Trust between our make up their company and the commitment to excellence.

company and customers manifests itself through common Recruiting, training, and retaining quality people are

goals, respect, and fulfilment of our commitments. Due to the fundamental objectives an Entrepreneurs’ success.

trust they build, both with employees and customers they Entrepreneurs conduct all matters of can not rest easy knowing they have not meet all of their

business with integrity. Entrepreneurs proudly uphold the needs.values of honesty, truthfulness and sincerity, while

Quality is an underlying trait of Entrepreneurs that remaining fair and ethical in even the most difficult situations.

touches all aspects of their business. The quality of the Entrepreneurs seek to constantly maintain a professional

people and excellence of their operations lead to distinctive demeanour despite facing critical decisions while

outputs for their customers. Quality is achieved through conducting business. The time and effort put into every

passion, leadership, education, empowerment, project is true to their mission of delivering superior results in

responsibility and accountability. These are virtues a professional manner.

Entrepreneurs champion and recognise in the activities of Entrepreneurs know in every marketplace, their company.

innovative ideas, concepts, and processes are essential to the continued success of any company. Entrepreneurs

Email: [email protected] to create value, deliver results, and continuously improve all elements of both their business and those of their

EDITORIAL

3Christian Entrepreneur � January 2018

CHAIRMAN’S MESSAGE

Antony Sequeira

App is the brain Child for the year 2018 and I am sure of its success. We are also in the process of printing a new

Happy new year to you all. I hope you members directory with the intention of all members coming celebrated the start of 2018 in good together as one big family.spirits with family and friends. Now that we’re a few days into the new year, it’s It is my proud privilege to address you through this medium good to look ahead and think about what and I, personally seek your help and support to lead our this year may bring us. But first, a quick organization to greater heights.look back.

I, welcome you, to be a part of the prestigious CCCI APP In my first message from the Chairman’s Desk, I would like which, is to be fully operational by the end of this financial to thank the Directors and Conveners for their guidance year.and help in the past year.

Wishing you all once again a Happy and prosperous New I am confident that with the help of all of you I shall ensure Year 2018.that this year will be beneficial to all the members

With regardsYou all are aware that we have recently inaugurated the CCCI App and soon it will be available to all members. This

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GST – ROLLER-COASTERIndia had another tryst with Having said that, the transition freedom, though of a different kind, provisions made sure the input tax at the midnight hour on July 1, credit sitting in the books as on 2017. Freedom from multiplicity of June 30 was happily carried taxes, as Goods and Services forward. The problems of dealing Tax (‘GST’) emerged, subsuming with one law as against 17 laws 17 different taxes on goods and/ or earlier also had its share of smiles. services. The one nation one tax And the best part, I would say, was dream became a reality. the receptive attitude of the

Government and the massive It has been 153 days as on outreach it successfully attempted. November 30 and nothing less than a roller coaster ride for The problems dealt with swiftly and efficiently and the voice GST, having its ups and downs, the screams and the of the industry heard. Processes are continuously being excitement, the despair and joy, all rolled into one. Different streamlined, ensuring the tax payers are not penalized for sections of the society having different views on the subject, no fault of theirs. The GST Council has been frequently one cannot deny that GST was the need of the hour for India meeting and resolving issues expeditiously. In its 23rd and the economy. Having said that, the implementation meeting held, the Council has taken rather significant thereof has left many a mouth gaping. decisions to assist the implementation and bring ease of

compliances to the taxpayers. A sign of relief, certainly.Starting off well on July 1, the potholes and the bumps started appearing soon after. Exporters were left high and It is easy to criticize. But considering the geo- political dry as their working capital started drying up as refund diversity, GST is a reform of a magnitude unparalleled in the mechanisms were not activated yet. Documentation history of independent India. We must give it time and be requirements for complex business transactions proved to patient. It will certainly be the next big leap of the Indian be cumbersome and the ambiguity in the laws added to the economy supported by the strong will of the Government to confusion. Compliances in the form of monthly return filing make it happen. And the Government is became a nightmare as the government site crashed more going all guns blazing to make sure it often that it worked due to the overload of filings which the does happen.system was not capable of handling. Multiplicity of rates added to the problems of the consumers and business houses alike. And of course, many utilities of the GST online system were not activated which left the business houses confounded. - Ankur Jain

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CHRISTIAN ENTREPRENEUR

Pg. CONTENTSNo.

3 Chairman’s Message3 Core Values of an Entrepreneur4 GST – Roller-Coaster5 Critical Illness Vs Mediclaim Policies6 SME Platfrom Turns Vibrant7 10 Surefire Ways A Positive Attitude Increases Success9 Setting Objectives when Starting up a Business9 A New Year and New Beginnings! Learn These Idioms About A Fresh New Start10 Buying a Business: How to take advantage of the coming wave of entrepreneur retirements

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CRITICAL ILLNESS VS MEDICLAIM POLICIESThere seems to be a lot of confusion on the health taken in the recovery process. insurance space especially with so many products being offered by various health insurance companies. Therefore Mediclaim policy sum assured is renewed each year and its imperative that one understands the difference between you can claim as many times upto sum assured for lifetime. these products to enable better coverage against most For example let us consider a 45 year old male who possible health related claims. Among the many products purchases a Rs. 10. lakh mediclaim policy for Rs. 13000 available, lets look at the 2 most common which are from Apollo Munich and Rs. 10 lakh critical illness cover Mediclaim and Critical Illness. from Bajaj Allianz for Rs. 9500. In the event of any critical

illness he gets hospitalised and seeks treatment. The entire To define in the most simplistic terms, a comprehensive hospital expenses are covered under his mediclaim policy mediclaim policy is a policy which covers ailments, upto Rs. 10 lakhs. If he survives for 30 days after diagnosis, surgeries, sicknesses which result in hospitalisation for a then the critical illness policy pays him a lump sum amount minimum of 24 hours. It also covers day care surgeries of Rs. 10 lakhs and that policy terminates. The following which do not compel the patient to be hospitalised for a day year he again renews his mediclaim policy and his cover and may get discharged on the same day after surgery for continues whereas he doesn't have an option to renew his example surgeries like Appendectomy, Piles, Colonoscopy, critical illness policy as it was a one time benefit and now Chemotherapy, Sinusitis, etc. has got terminated. Critical illness medical terms and

conditions are most of the time difficult to understand for lay Critical illness policies cover only pre defined critical persons and hence there is a lot of ambiguity in terms of illnesses such as Cancer, Coronary Artery bypass surgery, when one can apply for claim after a certain critical event. Myocardial infraction, Kidney failure, Organ/bone marrow transplant, Aorta graft, surgery, and many more. The One needs to therefore have a very good comprehensive number of critical illnesses covered differs from company to mediclaim policy which can ideally take care of all medical company and ranges between 12 to 30. Unlike Mediclaim related claims as defined by the policy. Depending on one’s policies where you can take multiple claims upto the sum affordability one may or may not go for critical illness. assured per year, Critical illness policies are one time benefit policies which pay the sum assured once on The chart below provides an occurrence of the critical illness and then the policy is elaborate short comparison of both terminated. Recently companies like Edelwiess Tokyo have the policies.started offering between 2 -3 maximum claim payouts after which the policy terminates but that comes with higher premiums. Critical illness policies have been specifically created to provide financial relief to the person who has contracted the illness and take care of his medical Steven Fernandesexpenses and also provide additional funds to take care of RIA, CFPthe time when he may not be able to join work due to time [email protected]

Features

Mediclaim

Policies

Critical

Illness

Policies

Claims not payable on

commencement of policyFor first 30 days, except accidental For first 90 days

Claims can be taken Multiple times upto Sum assured Once only. Some offer 2- 3 timesin a lifetime

Life Long Renewals Available in all Available in a few

Pre Existing illness Covered after 4 years Not covered

Claims payable Day care surgeries, ailments, sicknesses

resulting

in

hospitalisation

as

per

the

terms

defined

Only for pre defined list of criticalillnesses

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The SME Exchange is a stock exchange dedicated for subscribed 200 times. The company planned to garner Rs trading the shares of small and medium companies 25.65 crore at a price of Rs 100 per share instead received (SME’s). The concept originated from the difficulties faced bids worth Rs 5000 crore.by SMEs in gaining visibility or attracting sufficient trading volumes when listed with other stocks in the main The SME boost came on the back of strong growth exchanges. World over, trading platforms/ exchanges for potentials, attractive valuations ad increasing institutional shares of SME’s are known by different names such as interest for shares and small and medium enterprises Alternate Investment Markets or Growth Enterprises (SME).Markets. SME Boards etc. Some of the known names are AIM (Alternate Investment Markets) in the UK. TXS SMEs come with attractive valuation at early stage of their Ventures in Canada. GEM (Growth Enterprises Market) in business cycle with high growth potentials and are being Hong Kong .MOTHERS (Market of high and Emerging noticed by large fund housed besides portfolio mangers Stocks) in Japan, Catalist in Singapore, Chinext in China, and ultra HNI’s.EMERGE on the NSE in India

The recent IPO of One Point One solutions closed with 85 Internationally countries have provided for a separate times oversubscription with total book size of Rs 2700 crore exchange / trading platform to facilitate listing of securities for Rs 32 crores non anchor part.of growth companies , new economy companies , small and medium companies. The stock markets and its expansion Capital Raised has been an important factor in giving boost to the growth of the corporate sector as it is an important and efficient conduit to channel and mobilize funds to enterprises and provide an effective source of investment in the economy. The SME platform world over has been very successful. NASDAQ which started as a fledging exchange has transformed itself into one of the leading exchanges globally and is today valued at $ 7.5 trillion.

At home too the SME Platform has been very successful and in a short span of time over 325 companies have got listed and more than 150 are in the pipeline. On the SME Platform many of the IPO’s have generated

huge gains to investors. For e.g., Majestic Research This year has been a blockbuster year for the SME Platform Services and Solutions opened its IPO on 30th June 2015 in terms of initial public offering (IPOs) with 123 companies with an issue price of Rs 12.75 to raise Rs 1.43 crore. mobilizing about RS 1640 crores in 2017. It was a three fold Subsequently on 26th November 2016 the company went jump of the amount raised in 2016 and the numbers of in for a follow on Issue in the price band of Rs 106-114 to issuances were nearly double in the previous year. The raise Rs 10 crores. Currently the market price is Rs 720 total amount raised by SMEs more than doubled the bringing in huge gains to investors. This is not an isolated aggregate amount raised in the previous years. case; there are several companies on the SME platform

that have generated huge gains to investors.Although in comparative terms – about Rs 66, 169 crore were raised through IPOS by large companies the trend is definitely positive. The current year also witnessed two SME IPOs’ that were subscribed more than 100 times with the highest being a 260 time subscription for Ice make Refrigeration an IPO that generated a book size of Rs 6200 crore for the issue size of Rs 23. 7 crore and in early November the IPO for ANI Integrated solutions was

SME PLATFROM TURNS VIBRANT

Year No of IPOs’ Amt Raised

2012 13 120

2013 31 358

2014 41 302

2015 42 265

2016 66 540

2017 123 1640

Clifton DesilvaDirector

Altina Securities Pvt. Ltd.

Think of your attitude with this equation: Energy = Motion. From this paradigm, attitude determines movement forward or back.

Discover what motivates you to take action. Think back to what has inspired you to make changes in your life and pursue your goals. Knowing why you do what you do is vital to your current motivation and passion.

Is your incentive financial gain? Is it self-preservation, stability, anger or fear? Having clear incentives can instantly shift your attitude to a positive one.

Your attitude is so much like an inner architect building When you can motivate yourself toward a goal, your resilience in your mindset. attitude becomes infused with your inner power,

enthusiasm and passion. Your outlook on business is What's at stake? Your outlook involves your perception of elevated. You walk faster, smile more and carry a posture of success (or failure) and has a big impact on the viability of self-assuredness, all of which draws even more success your career. The great thing is, setting your attitude is your your way.choice.

See all the ways below that you can positively enhance your attitude:

Select benchmarks to help you visualize goals so they seem to be right before you as you strive to develop your skills. To maintain an attitude of enthusiasm, create benchmarks of success and think about them intentionally What you think about yourself, your abilities, financial gains and consistently.(or losses) and your assessment of your ability to succeed

becomes what you might actively live out. Actions follow The more deeply you believe a goal will come to pass, the thoughts.more likely it will be. This type of mental practice keeps your attitude positive and directed toward attainment of success. To be successful, choose your thoughts wisely and I believe you naturally strive toward what you visualize.deliberately.

When your attitude is unproductive and you need to shift from a negative thought pattern, draw upon your inner coach: Reprogram fearful, defeatist thinking toward When challenges surface in business, you might thoughts charged with power, conviction and faith. Focus experience a loss of control over emotions and thoughts. To on your ability to meet your goals. remain optimistic, discipline your mind to stay clear of

catastrophic thoughts and the "what if" slippery slope of Learn to coach yourself into a productive state of mind. This anxiety.coaching can lead to forward movement and can be reignited anytime you face a setback. Anxiety is simply fear projected forward. Remind yourself

2. DETERMINE INCENTIVES

3. SET BENCHMARKS

1. FIND YOUR INNER COACH

4. MANAGE ANXIETY

10 Surefire Ways A Positive Attitude Increases Success

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that a "what if" is not happening now: It is just a story. Focus on what you can control right now. Each thought is a seed

Find the humor and lighter side of life as you climb the you plant that programs your attitude and your subsequent ladder of success. This will decrease your stress. The less behavior. To keep a great attitude, learn to focus your mind stress you feel, the more positive energy you will have on solutions, not problems.available to support your hard work.

To be lighthearted is a great skill that lightens up the business environment around you. It adds charisma (a To reach your peak potential on the climb to success, be highly attractive quality) to your persona and breeds trust driven and shrewd but also happy and enjoyable to work for and the desire of others to want to work with you and for you.and with. The heights of success attained grow the more

infectious your energy appears to other people.

Your personal vibe can either repel people or draw them in.One of quickest ways to shift from a negative attitude is to change your physiology. If you are stressed, physical When you carry an attitude of excitement and vigor, this activity provides a quick release. This can help you cleanse transfers to those around you and increases business a negative thought pattern and redirect your energy to morale. If your attitude is gregarious, infectious and all seeing the positive.about living life to its fullest, you seem to have unlimited

potential: You positively motivate others to support your Exercise (or movement of any sort) propels you into an attempt to achieve even higher levels of success.altered state of mind, letting you increase your optimism. Movement provides a natural stress release, ideal for continued motivation and mental clarity. If you can't hit the gym on a stressful day, escape the office for a 15-minute Be hungry for success. That way a natural eagerness will walk to shift your outlook. permeate your attitude. It will seem that you cannot wait to

get to work and put that hunger into motion.

This hunger becomes the emotional "speaker of the To be successful, understand two things you have control house." This energy serves as the driving force behind your over: your thoughts and feelings. If you are naturally more attaining your goals when you have 100 percent pessimistic, take responsibility for consciously selecting commitment to what you are doing.your attitude.

Total commitment cuts through doubt. Exude positivity in your work ethic and in your interactions with others. When you master your inner world, you can dominate your outer world.

Connecting with your spiritual empowerment system will In the business world where every person has the same nuture your soul -- and your business. The deeper the access to strive to build their resources, talent, finances, connection you feel to the purpose of your business the technology and the like, a person is often successful more you will experience your higher life purpose as being because of determination, resilience and attitude.expressed through your work.

In business, attitude is everything. If you believe you can Your business is a place where you have the ability to succeed, you very well might. Your attitude about success impact others positively on a grand scale. This type of can become your self-fulfilling prophesy. Choose to be a empowerment gives meaning to what you're working for. victor.You are able to see that your purpose is powerful and

helpful in the lives of others, which further strengthens you to do what you do.

8. CARRY SOME LIGHTHEARTEDNESS

5. CREATE A POSITIVE IMPRESSION

9. ENGAGE IN PHYSICAL ACTIVITY

6. SHOW YOUR HUNGER

10. AIM FOR SELF-MASTERY

7. FIND THE DEEPER MEANING

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When Setting Objectives when Starting up a Business you • Can we do this with the resources we have?should always use SMART objectives -the most well known • Has anyone else done this successfully?method for setting objectives. S.M.A.R.T refers to the • Is this possible?acronym that describes the key characteristics of meaningful objectives, which are:

• Do you have the resources available to achieve this • WHAT am I going to do? objective?• WHY is this important for me to do? • Do I need to revisit priorities in my life to make this • WHO is going to do what? Who else need to be happen?

involved? • Is it possible to achieve this objective?• WHEN do I want this to be completed?• HOW am I going to do this?

• When will this objective be accomplished?• Is there a stated deadline? (a defined time line)

• How do I know when I have done it?• Can these measurements be obtained?• What are the numbers, quantity, comparisons? Remember what gets measured gets done, so write your

goals down, share them constantly with those who can help, are part of the goal and your team. Keep refining your

• Can we get it done in the proposed timeframe? goals to ensure achievable. If necessary, split goals down • Do I understand the limitations and constraints? into achievable tasks.

REALISTICSPECIFIC

TIME-BOUND

MEASUREABLE

ACHIEVABLE

SETTING GOALS SUMMARY

With the start of a brand new year ahead, it’s the perfect This idiom gives a great boost of motivation if you find time to think about making a new beginning in your life. yourself in that position. It means that without taking a bit of Maybe this is the year you’ll learn a new language, or travel a risk or facing a challenge, you can’t expect things to to the destination you’ve always dreamed of! To get you change or improve.inspired, take a look at these great idioms - all about new “I decided to take horse-riding lessons, even starts. though I’d never ridden a horse before. After all, nothing

ventured, nothing gained!” - This idiom describes beginning - This fantastic idiom expresses the

something again, especially after a change or period that feeling of newness when something revolutionary and you might want to forget. It’s a great way of expressing different takes place - it means that it’s not like anything else making a positive change in your life, after a negative that came before it.period. “The director’s latest film really breaks new

“Even though he lost his job, this year Tom ground - it’s the first time a film has been made in this way.”decided to turn over a new leaf, and look for something - This is a new.” wonderfully inspiring idiom - and a great piece of

- This idiom means to start again, in a motivational advice. It means that a setback or loss doesn’t different way. You might describe something that is done always mean that you’ve lost all hope or opportunity for quite commonly, but in this case, it expresses that you’re ever.approaching it in a new way altogether. Instead, there may be a new opportunity that comes up,

“After seeing how much weight she put on because of the set back you’ve suffered!over the holidays, she decided to start her diet anew this - Do you have the feeling that some kind month.” of change will happen soon - even if it hasn’t happened yet?

- Sometimes doing - the feeling of something new and different means taking a bit of a risk into anticipation that something major will change or arrive. unknown territory, and this can be quite frightening! Make sure you try these idioms to help you express them!

For example:

To turn over a new leaf To break new ground

For example:For example:

When one door closes, another opens

To start anew

For example:Winds of change

Nothing ventured, nothing gained This idiom describes that sensation

Setting Objectives when Starting up a Business

A New Year and New Beginnings! Learn These Idioms About A Fresh New Start

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With so many baby boom In terms of industry, the largest number of entrepreneurs entrepreneurs heading to who want to make an acquisition are in the mining retirement, the coming years will be and energy industries - where a good time to buy a business in respondents owning larger Canada. businesses were predominant.

Close to 60% of owners of small and Buying a competitor is the leading medium-sized businesses are aged motivation for acquisitions50 or older and that means many will soon be leaving their companies. Why do entrepreneurs want to buy a

business? The No. 1 reason identified In fact, 41% of entrepreneurs expect to in the BDC survey was to acquire a exit their business, without acquiring another competitor, with the second most one, within the next five years, according to a 2017 popular reason being a desire to expand BDC survey of 2,500 entrepreneurs in all industries. geographically.

The survey found that more than half of those The survey also indicates entrepreneurs businesses will be available to outside buyers, with want to buy a business that is profitable but the others being handed over to family members or not necessarily growing at a high rate. It found that 61% wound down. want to buy a stable but profitable business compared to

31% who are looking for a growing and profitable one.A boom in acquisitions will likely lead to greater consolidation Just 8% of potential buyers are interested in trying to turn

around a declining or unprofitable business. The message The good news for sellers is that there are many for sellers is clear. It’s essential to ensure your business is potential buyers out there, the survey indicates. Indeed, strong and profitable before putting it on the market.19% of entrepreneurs said they intend to make an acquisition in the next five years—either to complement the At the same time, 62% of potential buyers want a business business they already own or as a replacement for one they that is the same size or smaller than their own. This is have sold. especially true for larger businesses and even with those

who identify themselves as risk-takers.Owners of larger companies are even more likely to want to buy a business, with 44% of owners of companies with 20 or more employees looking to make an acquisition.

Buying a business can be a great way to grow your “The abundance of buyers and sellers should lead to a business and open new markets. However, acquisitions boom in acquisitions,” BDC Chief Economist Pierre Cléroux don’t always go smoothly.says. “This is great news for the economy - consolidation will create bigger businesses that are better positioned to In fact, many deals fall short of the expected financial compete both in Canada and abroad.” performance - often by a wide margin in the short term, a

separate BDC study found. Synergies are harder to Not surprisingly, the survey found that most potential achieve than forecast, and entrepreneurs tend to buyers are eager to grow their companies and willing to underestimate the costs and disruption involved.take risks.

4 TIPS FOR BUYING A BUSINESS

Buying a Business: How to take advantage of the

coming wave of entrepreneur retirements

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CCCI BOARD OF DIRECTORS

CCCI COMMITTEE CONVENERS

CCCI YOUTH GROUP

ADMINISTRATIVE OFFICE

Chairman

Founder Chairman

Immediate Past Chairman

Vice Chairmen

Directors

Permanent Invitees

Executive Secretary

Antony Sequeira

Vincent Mathias

Henry Lobo

John D'SilvaAlbert W. D'Souza

John Mathew

Lawrence CoelhoAgnelo Rajesh Athaide

Walter ButhelloJohnson Therattil

Adv. Pius VasGregory D’Souza (co-opted)

Ralph PereiraLawrence D’Souza

Felix D’Souza

Stanley M. Lasrado Baby JohnAlwyn Rasquinha Malbin Victor

Felix Quadros Raymond D’SouzaRonald Naronha Christopher Solomon

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To avoid the pitfalls, here are four tips to help you make the best decisions when shopping for a business.

- Entrepreneurs who get the best results spend a lot of time looking at companies. Yes, they look at the books, but they also take a hard look at a company’s strengths, weaknesses, opportunities and threats to its business model. They ask many questions, starting with: Why does the owner want to sell?

- It’s essential not to spend too much on your acquisition. Overpaying will reduce your financial returns and increase your risk of default. Patience is a smart policy. More businesses will be coming on the market as entrepreneurs retire.

- The financing tools you use can dramatically change the returns you realize on your investment and the risk you face in the company and personally. You want a financing package that maximizes your repayment flexibility and minimizes your personal exposure.

- Many entrepreneurs underestimate just how complex and time-consuming an acquisition and integration can be. That’s why it’s a good idea to get outside advice as you move through the process. Your team should typically include such professionals as an accountant, a banker, a lawyer and a project manager to oversee integration.

1. GO BEYOND THE NUMBERS

2. BE DISCIPLINED ON PRICE

3. NEGOTIATE A FLEXIBLE FINANCING PACKAGE

4. GET HELP FROM EXPERTS

C A V E A T

The views expressed in the articles and news

and comments published in the Christian

Entrepreneur Newsletter are those of the

individual authors and do not necessarily

reflect the official positions or policies of CCCI

except those signed by the official authorities.

The Christian Entrepreneur does not vouch for

any claims made by the Advertisers of products

and services. It shall not be held liable for any

consequences; in the event such claims are not

honored by the Advertisers.

Edited, Printed & Published by Mr. Antony L. Sequeiraon behalf of Christian Entrepreneur, B-143, Solaris Bldg. No. 1, Saki Vihar Road, Opp. L & T Gate No. 6, Powai, Mumbai – 400 072 and Printed at Printania Offset Pvt. Ltd., D 20-21, Shalimar Ind. Estate, Mumbai – 400019.Associate Editor Mr. Lawrence Coelho.

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