Registration Archives - Page 11 of 13 - Business , Financial & Legal Consultant In India

January 2, 2019

How to Transfer shares in a Private Limited companies

transfer of shares in private limited company

Transferring shares in a Private Limited Company is a simple one, in a Private Limited company it is the responsibility of the shareholders to determine the ownership of the company and for this very reason transferring of shares is important. And in this blog you will going to understand or answer to the question that how to transfer shares in a Private Limited Company–

Share transfer restrictions-

There are following restrictions which are involved in trasferring of the shares in a private Limited Company and those restrictions are mentioned under their Articles of association of the company. There are two kinds of share transfer restrictions that are described in AOA and those are as follows-

Power of Directors to refuse- eventually, every decision regarding the future of the company lies with the Directors of the Company, and if there is certain circumstance in AOA which is not being followed then the Directors can refuse to transfer the shares.

Rights of Pre-emption- if any shareholder wants to share its share either whole or part of its shares then before selling it to outside it is their duty to first ask existing members or shareholders.

If there is any private agreement between the shareholders regarding the transfer of the shares then they are not to be considered as legally binding upon them in any form.

Process of transferring shares are as follows-

Firstly one should see that or review the Articles of association for any sort of restriction associated with share transferee.
Secondly notice is to be given to the Board of Directors of the company for its intention.
Then price determination of shares is to be done. Evaluation of the price of shares is being done according to the clause mentioned in Articles of Association of the company.
Then shares must be firstly offered to the current members of the company.
The company should provide shareholders its share availability, the purchase date of shares and the price of the shares.

Selling of a Private Company shares

Firstly a proper transfer deed is to be prepared in a proper and prescribed format.
Then this deed is to be signed by the transferor and transferee of the shares.
Then this ded is to be stamped according to the Indian Stamp Act.
Then witness has to sign the deed who were present at the time of step 2.
Then share deed along with the share certificate have to be forwarded to the Board of Directors for approval.
And lastly if directors gives approval for the selling of the shares, then new share certificate is generated in the name of one in whose name the share is being transferred.

December 18, 2018December 18, 2018

Partnership Firm Registration in India

Partnership is a group business form where people come together and put their ideas forward towards business with mutual understanding. Partnership can be between individuals, Business Groups, Government and many more Organizational Bodies.

Steps of Partnership registration Firm in India

Choose a Partnership Name- Partners are allowed to pick any name for their firm subject to the accompanying Principles. The names of a firm must not include words like crown, emperor, empress, empire, or words communicating or inferring the authorise, endorsement or support of the Government.

Create a Partnership deed- Then partnership Deed is to be prepared by all the partners of the firm to avail the benefits of Partnership. The following are the fundamental attributes of an Organization Deed-

Nature of Business to be carried on
Name and address of the firm as well as of the Partners
Duration of partnership
Capital contribution by each partner
Date of commencement of business
Profit sharing ratio among the partners

Consider whether extra statements are required- Partners may likewise say any extra statements.

Salaries, commissions and so forth, assuming any, payable to accomplices.
Method of getting ready records and game plan review.
Division of errand and duty , to be specific the obligation forces and commitments of the considerable number of accomplices.
The principles to be followed if there should be an occurrence of retirement, passing and and confirmation of an accomplice.

Choose whether or not to enlist the Partnership firm- then partners have to choose whether they should enlist the partnership Firm or not.

Application for Registration of Partnership Firm in Form 1-

Properly filled example of Affidavit
Ensure True Copy of Partnership deed
Proprietorship verification of the foremost place of business of rent understanding thereof
Sign the application, the application and proclamation must be marked by everyone of the accomplices, or by their specialist particularly approved for this benefit.

Anticipate that the registration procedure will continue formally- one should record the passage of the announcement in an enlist called the register of the firm and issue a certificate of registration. The Registrar keeps finished and forward data about all enrolled firm.

December 7, 2018

What Is The Process To Rectify The Already Registered Trademark In India

trademark rectification process in india

Trademark rectification is a legal procedure that is done to correct or rectify the error that has been done or made in the Trademark that has been put inside the Trademark registry. It is done when trademark has been wrongly registered or or when the mark is still in the trademark Registry after it has been expired (gone beyond the 10 year limit).

Trademark Rectification- Eligibility criteria

Anyone whose Trademark has been entered into the registry in a wrong way.
Anyone whose Trademark Application ahd the correct mark but the data which was entered in the register was wrong.
Anyone whose Trademark registration period of 10 years is over and the mark are still present.
Anyone who wants to cancel the trademark registration.

Trademark Rectification can be applied only when anyone’s Trademark is registered. If anyone’s Trademark is not registered then Rectification for trademark cannot be applied.

What are the grounds of trademark rectification or Trademark Cancellation?

If the trademark registration was done without any proper means, or if the Registration was obtained through untrue representation of facts, or if the Trademark was already been registered.
The Trademark is still inside the registry even after either there is a case againsts it, or the Trademark can create confusion.
If there are changes, amendment, or modification needed to be made to a registered Trademark according to the more recent advancement.
If a Trademark is registered but hasn’t been using it for more than 5 years.
If the Trademark hasn’t been renewed after its prescribed time of 10 years.
If the Trademark Registration have been obtained using unsrupulous means or fraud, then the Trademark can be expunged from the Trademark registry.
If there are any evidences pertaining to the non conformity of the Trademark registered on the grounds present in the Indian Trademark Act.
If more classes need to be included or added to the Registered Trademark.

Where is Trademark rectification Application filed?

Trademark rectification application is to be filed before the Trademark registry or either you can apply the rectification application of Trademark online also. However more physical approach is recommended.

Trademark Rectification Procedure

Firstly you need to file the Application for Trademark Rectification, and for filing there is a prescribed fees and format provided.
The application should include the case statement.
Once you have finished the Application, you can submit it either to the Registrar or IPAB.
After the Registrar receives the Application they are going to make contact with the registered proprietor of the mark to give counter statement.
As the counter statement arrives to the evidence stage, the parties are required to file their evidences in an affidavit format.
After this a haring happens, and the order for subsequent removal or rectification of Trademark is passed.

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November 29, 2018

How to protect Trademark Internationally

If any person wants to register their mark in abroad or you are thinking for worldwide expansion then he can consult his lawyer or his agents to get it registered. And every Application for Trademark is applied individually in that Country’s IP Office. Applying in a different Country is a quite tricky process and that is why World Intellectual Property Organization (WIPO) have given Sorted solution for that and i.e. Filing of Trademark through Madrid Protocol through which Trademark can be applied in several countries through a single Application.

What is Madrid System

It is basically an Agreement which is signed by several countries (At present t has 97 member countries). By filing single Application Trademark can be filed in these several countries. By filing of a single Application status of your Trademark in each country can be tracked and managed centrally through the WIPO Site. without Madrid System international Trademark process is quite tricky and lengthy.

An Application will be moved from the country of origin only. And costing is given on the WIPO website. Fee Calculator is there on the WIPO website to tell the fees for applying for Madrid. It depends on the number of countries you are applying for and accordingly fees is charged. It takes 15 to 18 months to get it registered and can be renewed after every 10 years.

Therefore for Trademark application it is advisable to seek suggestion from the trademark attorney and after proper consultation only applies for Trademark filing by the way of Madrid System.

November 28, 2018

What is the role of Company registrar of Companies in the Incorporation process

The Company Registration process in India includes Companies Secretaries, Chartered accountants and some other individuals. In this blog we will discuss the role of Registrar of Companies in incorporation process.

Role of Company Registrar

Registrar of Companies has very important role to play in Incorporation of Companies. All documents are sent to the Registrar of Companies only. He decides everything like whether Company’s name can be incorporated or not. There are three Categories which are divided in to 3 parts and they are as follows:-

Document Accumulation– Once Registrar receives all the documents and application, then he will cataloguing it responsibly for future assessment.

Document Assessment- Once the Registrar receives all the documents then he will check whether all the documents are in order or not. And for Document assessment he will check whether all documents are present or not. And whether the documents are as per the rule of Ministry of Corporate Affair. And he will check that whether the application is filed right or not.

The certification- Once the Registrar checks every document that whether all the documents are present or not and all the documents are on record or not. And after checking all documents he will decide whether to certify the company or not. After certification of the company, documents are given to the Applicant. Only Chartered Accountant and Companies secretaries and some other people are authorised to apply for Incorporation of the Company. Because they are the experts and will advice you on correct things.

In BIATConsultant there are team of experts which can guide you in Company incorporation process.

November 26, 2018

What Is Said To Be Dormant Status Of The Company

Dormant status of the Company

The concept of Dormant Company came into existence in India with Companies Act, 2013. And it basically is formed as a sleeping or inactive company which is made for the future perspective. There is not any specific clause in the companies Act but it is mentioned in section 455 of Companies Act, 2013. And under this section the types of companies which are formed for future references is being discussed.

Inactive company does not carry any business operations or has not made any significant accounting transaction during the last two financial year. Companies must have not filed any financial statements or Annual returns during the last two financial years. Companies who have fails regarding mandatory annual requirements, those companies are also referred as a Dormant Company.

Here are some Rules regarding Dormant Company

MSC-1- Application for seeking- Application for obtaining a status of a Dormant Company can only be obtained through a special resolution Approval and through issuing a notice to all the Shareholders. There should not be any kind of dues i.e. tax dues or any outstanding loans, then only the status of a Dormant Company can be obtained.

MSC 2- Certificate of Registrar- Registrar will issue the Certificate.

MSC 3- Return of Dormant Company- By filing return the financial position of the Company can be seen. And the returns of the Company should be filed by the Chartered Accountants who are in Practice.

MSC 4- Application for Active Status- If a Company wants to get its Active Status then it can simply move an application for the revert of the status along with the requisite fees.

MSC 5- Certificate of Application status- In this certificate of Application status is being issued.

There are some rules which specifies that a Company cannot remain inactive for more than 5 consecutive years i.e. there are some rules given in which it is clearly written that a Company cannot remain inactive for more than 5 Consecutive years.

And is registrar has doubt that being a Dormant Company some transactions have been issued then the registar can take necessary steps or action to revert the status of an inactive company to a Active Company.

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November 26, 2018November 26, 2018

How to apply for Copyright Protection in India?

For registering Copyright Registration in India an Applicant must file online Application with the Copyright office. The Applicant must consist of relevant information and shall be filed along with the prescribed fees and documents.

Copyright is a kind of Intellectual Property Rights and it helps to protect the creation of the creator of literary, dramatic, musical, artistic and Cinematographic work. Copyright in India is governed by Copyright Act, 1957 along with the Copyright rules, 2013.

Step by Step procedure for Copyright protection in India-

To begin with the procedure of Copyright Registration in India an applicant must must create his user id on the official portal of Copyright by filing his basic details.
After the successful registration the applicant must login to the official portal for Copyright.
Then after logging in screen will appear in which option for E-filing will appear.
Then finally the Copyright Registration form is required to be filled up in four parts as specified below and and after completing each step the next button must be pressed i.e. form XIV must be filled by the Applicant and submitted and move on to the next step.
Then an Applicant is required to complete the particulars mentioned in this form and then press save button. In this the details about the creation must be filled like nature, description, class of work etc.

November 24, 2018

Relevancy and reliability for BIS Registration for consumer Electronics

Introduction

India is a growing country that is why demand of consumer electronic Goods is increasing day by day. That is why government has introduced Compulsory registration scheme for consumer electronics and for that Bureau of Indian Standards has been introduced and being implemented.

Types of BIS Certification Scheme

Normal procedure for Domestic Manufacturers- The applicant is required to submit the BIS Certification Application with required documents and requisite fees. After submitting the application preliminary factory evaluation is being done by BIS Officer. Then those samples are tested in the factory. And BIS Certification is provided when sample is accepted. In this process BIS Certification is being granted within 4 months from the date of filing of the Application.

Simplified procedure for domestic manufacturers- In this the applicant submits the test reports of the sample from the BIS approved lab along with application of BIS Certification. If test report is satisfactory then verification is being done by BIS officer, and BIS Certification is granted if the verification is satisfactory. i n this license is expected to be granted within 30 days.

Tatkal scheme- Those Manufacturers who want BIS Certification mandatorily as per government Notification then they can obtain BIS Certification through tatkal scheme. In this scheme the total time for processing is specified within 30 days, and this scheme is taken on the priority basis and is done as soon as possible as compared to the other.

Eco- mark scheme- In this scheme BIS License is granted for eco friendly products. And these products must qualify the Indian standards. However it is similar to domestic Manufacturers.

Foreign manufacturers Certification Scheme- In this foreign Manufacturers are granted this License for the use if ISI mark under separately designed scheme within 6 months period.

So in case you are looking for BIS Registration Consultant in India to get your ISI mark registered in India , contact BIATConsultant.com .

September 19, 2018September 19, 2018

Step By Step Procedure to incorporate a company in India

If you are thinking to start a new Company but is confused regarding its procedure then in this blog we will be discussing the procedure for its incorporation. Read our detailed guidelines for company registration procedure in India

Steps for Incorporating the Company-

As we have already told you that there are several things which you are required to follow. So here is the list of things or step by step procedure to be followed while incorporating:

Step 1: Choose the name of the business- This step is perhaps the most important step which is need to be done. Firstly name of the company is t be chosen on which your business will rely, so ame of the company should be unique which gives lasting impression to your consumers. Before applying for the name, the Registrar should check its availability that whether that name is available or not otherwise it can get rejected by the Government after applying for ts name.

This step entails the location of your company- Every sort of Company needs to have its physical location associated with it. It is necessary to identify the location on which you need to do your business. And make sure to check the company incorporation cost, the taxation law and other corporate laws in the place you seek to start your company at.

Select the type of incorporation- It is necessary to decide the kind of company which you need to register. There is Private Limited Company, Limited Liability Partnership, Nidhi Company, Section 8 Company and others. So chose the type of business you do and then decide upon the type of entity that you want.

Name of the Directors of the Company- This step is one of the important step. When you are naming the Directors then make sure that they can manage the affairs of the Company. These Directors are going to be responsible or running the business of the Company.

Decide the tps of shares you need- The type of share depends on how you chose to incorporate your company. But make sure that the share you chose should be right one. You will also need to decide that to who you are assigning the share.

Getting Access to the Certificate of Incorporation- In order to fully incorporate your Company you need to take the certificate of incorporation. Once you get certificate, it will entail Company’s Name, purpose, location and information of the company like about its Director and its Shareholders.

The Last Step- The last step involves filing the Articles of Association and and submitting it to Registrar of Company wit the required fees. Thi can be done either offline or online. For Offline process you need to consult either Chartered Accountant or Companies Secretaries. For offline process, you need to take help of Attorney as well.

August 30, 2018

CopyRight Registration Process In India

Copyright Registration Process

Copyright is a protection given for Literary, Artistic, dramatic and Musical work and for producers for Cinematographic films and Sound Recording. In fact it is a bundle of right which is given for rights of reproduction, communication to the public, adaptation and translation of the work. Basically it is a right given to the creators, as India is a developing economy and through new creations only India is getting developed day by day. Therefore it safeguards the rights of the Authors over their creations and thereby creation is protected and Rewarded.

Also Read. : BIS Registration Process In India

Copyright Registration process

Firstly Application for Copyright Registration is to be filed by an Applicant, and there should be separate application for each registration if there are more than application and each application should be accompanied with the prescribed fees which is given or provided by the Registry. And that Application should be firstly signed by an applicant itself and by the Advocate whose Vakalatnama and Power of attorney is attached or has been executed. And that Vakalatnama shall be signed by the party and accepted by the Advocate, and hat acceptance should be enclosed.

Then Diary Number is being allotted by the Registry to the Applicant, and after getting your Diary Number you have to wait for he mandatory period of days so that no objection is raised in the copyright office against your claim that particular work is not created by you.

Then if there will be no Objection then there will be scrutinization by the examiner, then after scrutinization they will search for Discrapencies, if no dicrapancy found then copyright registration will be approved by the Registry, but there is any discrapancy found then discrepancy letter will be issued to the Applicant, and reply to that letter will be prepared by the Applicant, and then hearing by the registrar will be conducted then either approval or rejection for registration will be done.

And if there is an objection raised in the Copyright office hen letter for objection will be served to both the parties, and then reply has to be filed by both the parties, then hearing will be conducted by the Registrar and then application will either be Accepted or rejected , if Application is accepted then check for discrapancy will be conducted and discrapancy is found then letter will be issued to the Applicant and then Applicant will prepare the reply, and then mater will be gone for hearing and then registrar will either accept the application or will reject it. And finally if the application is approved then Application for copyright will be registered and if rejected then application will be rejected.

Also Read : Trademark registration process in India

Therefore through copyright literary, artistic, dramatic and musical work can be copyrighted, you can also file a copyright application for your website or other computer programme, for any computer software and computer programme can be registered as Literary work. And as er section 2(o) of Copyright Act, 1957 literary work includes Computer programme, tables and compilations, including computer databases. Therefore Copyright protection prevents undue proliferation, of private products of work, and ensures that the individual owner retains significant rights over their creations.

BIATConsultant is #1 online legal consultant in India serving clients since 2004. .