Documents required for Public Limited Company
The documents required for the incorporation of a public limited company is of extreme importance as proper documentation needs to be done first to stay away from any encumbrances. The documents required for incorporating a Public limited company are discussed in this article. Public Limited Company is a form of company which offers its shares to the general public. It gives limited liability to its owners and shareholders. At least seven [...]
Reasons behind Startup failure
The most desirable thing for any Entrepreneur is to set and run his own business, his own company. The fascinating thing about being an entrepreneur is that you get to do what your heart really desires. You get to live your life to the fullest and at your own mercy. Life becomes fun. And to top it all, everything starts with a mere idea, an idea which is then executed [...]
Partnership Firm Registration In India
Introduction Partnership- A very simple yet strong word. Partnership firm registration is done on many bases. It may be on a friendly basis or it can be formal. Partnership in the Corporate world refers to a relationship when two or more people decide to share the profits of a business carried on by them all or any of them acting for all. It’s generally done in legal terms. The percentage of ownership [...]
CARO’ 2015 Applicability
Introduction Implementing the Companies act, 2013, the central government made the auditor's report applicable from the financial year beginning on 1st April 2014. Section 227(4A) of the old companies act ceased to be operational from 2014, under the provisions of the Companies Act, 2013. Thus, MCA on 10th April 2015 issued CARO-2015. CARO is applicable only to a specific class of companies. Applicability of Order MCA in notification Published In official [...]
ISO Certification in India
Introduction ISO or The International Organization for Standardization is a non-governmental International federation of national standards with about One hundred and sixty-two Countries as its member. They provide International standards so as to generate products and services for high quality, safety, and efficiency. International standards are basically documents which provide certain specifications, guidelines or characteristics which help check the consistency of your product or services. There are more than One [...]
Small Scale Industries (SSI)
Introduction The meaning of Small Scale Industries is the industry whose aggregate turnover does not exceed 25lakh to 2 crores. There are certain goods exempted from the Small Scale Industries (SSIs). This benefit of exemption is not applicable to all the goods and only to certain goods listed in the notification. The notification covers most of the products. However, tobacco products, pan masala, watches, matches, aluminum patties/Patta, steel patties/pattas and [...]
DSC registration process
Introduction The Information Technology Act, 2000 has provisions for use of Digital Signatures on the documents submitted in electronic form in order to ensure the security and authenticity of the documents filed electronically. This is a secure and authentic way to submit a document electronically. As such, all filings done by the companies/LLPs under MCA21 e-Governance program are required to be filed using Digital Signatures by the person authorized to [...]
Public Company Registration Requirements
Introduction The pre-requisites for public company registration as follows: Shareholders (Members) There shall be at least 7 members/shareholders in the public company. There is no upper limit for the maximum no. of the shareholder. Any natural, artificial person, LLP, OPC or any other registered public company can become a member of the company. Directors There shall be at least 3 directors in the company. One of the directors must be [...]
Director Identification Number (DIN)
Introduction In accordance with the new company law, any and every director of an Indian company must have himself registered and must possess an identification number known as the 'Director Identification Number'. Significance of Director Identification Number (DIN) DIN is relevant in tracing the directors of companies, thus eradicating every possibility of them vanishing with the investor's money. Many companies have been formed primarily with the motive of raising funds [...]
Pvt Ltd Company: Companies Act, 2013
Introduction Companies Act 2013 passed by the Parliament in August 2013 consolidates and amends the law related to corporate affairs or simply companies. A Pvt Ltd company which can have a minimum of two members and can go as far as to two hundred members have limited liability of its members but has many similar characteristics as of a Partnership firm. A Pvt Ltd Company must have a minimum of two directors [...]