Business , Financial & Legal Consultant In India

April 3, 2020April 3, 2020

LIMITED LIABILITY PARTNERSHIP COMPANY [LLP] FORMATION IN INDIA

The LLP stands for limited liability partnership which can be defined as a corporate entity registered under the limited liability partnership act ,2008.

It can also be defined as a hybrid form of partnership that enjoys limited liabilities and also includes features of a company.One should note that the compliances for a company are applicable to limited liability partnership.

BUSINESS WHERE LLP NEED APPROVAL FOR REGULATORY AUTHORITIES –

There are certain business activities where the limited liability partnership companies need prior authority of regulatory authorities before the beginning and usch business activities are venture capital ,banking , stock exchange ,merchant banking ,architecture , chit fund ,reconstruction , NBFC ,mutual fund etc.

All the activities marked above need the prior approval for concerned authorities and bodies before starting the business as per terms and conditions of the companies act ,2013.

FOREIGNER CAN BECOME A PARTNER IN LLP –

According to new companies act ,2013 , the foreigner can also become a partner in the limited liability company keeping in mind that there should be at least one member or partner in the company who is an indian citizen and resident of India in the previous calendar year.

CONVERSION OF PARTNERSHIP FIRM INTO LLP –

A partnership firm can be easily converted into the limited liability partnership firm according to rules defined below –

A form 17 is needed to be filed along with the form 2 for the conversion of the partnership firm into the limited liability partnership company.

One should note that an existing partnership firm by complying with the provisions of clause 58 and schedule 2 of Limited liability partnership act can be easily converted into a limited liability partnership company.

MINIMUM PARTNERS REQUIRED TO FORM LLP –

As per the Limited Liability Partnership act,2008, The minimum partners required to incorporate a limited liability partnership firm is two and there is no limit for the maximum number of partners.

A FOREIGN LLP CAN ESTABLISH BUSINESS IN INDIA –

According to the new companies act,2013 a foreign limited liability partnership company can easily establish a business in India.The process involves filing of form 27 with the ROC.

The form includes various details such as foreign LLP incorporation , two authorized representatives ,designated partners for compliances under the act.

ADVANTAGES OF FORMING LIMITED LIABILITY PARTNERSHIP COMPANY –

The advantages of forming limited liability partnership companies are defined below –

1] FEATURES OF PARTNERSHIP AND COMPANIES –

The basic and foremost advantage is that LLP includes features of both partnership firm as well as the company.Therefore both the types of feature are available here.

2] INCORPORATION COST INVOLVED –

The cost involved in the incorporation of the limited liability partnership company is very low.

3] MINIMUM TWO AND MAXIMUM PARTNERS EXEMPT –

In LLP there is no limit for the maximum number of the partners and minimum required partners for the incorporation is two.

4] AUDIT NOT MANDATORY –

There is no mandatory audit to be done in LLP unless the turnover exceeds Rs. 40 lac. And the capital contribution exceeds rs.25 lac.

5]MAINTAIN ONLY ACCOUNT BOOKS-

There are very few records to be maintained i,e only the books of account are needed to be maintained.

6] LIMITED LIABILITY OF PARTNERS –

In the case of LLP , the partners’ liability is limited to his shares and therefore the personal assets of every partner is safe and secured.

April 3, 2020April 3, 2020

Decoding the benefits of registering a Business

There are lots of benefits which are there of registering a business in India and they are as follows-

It gives you a structure- By forming a new company, it gives you a better structure of business, like suppose if you want to open a one man company then you can go for One person company formation, or if there are Partners in your company then you must opt for a Partnership Firm and by forming a company, it helps in smoothly running of a firm.
Without structure there is no order in the company and therefore it affects the profit margin of the company. Therefore when we talk about business then we must focus on how must give a properly organized structure to your business idea.
By opting for a registration of company, it gives a separate entity to your business, as you get certificate of incorporation which can be called as a Birth Certificate of your newly formed company.
There is perpetual existence of a company, like when we open a startup , then everyone one only wants to make money but also they want to establish a legacy. When a business is registered it gives a separate entity. If and when the owner of the business dies the business can continue to exist. Its ownership can be transferred to another Director, or it can lie dormant.
Registered business are more trustworthy, basically unregistered business is worthless as before doing any business, anyone wants to have safe business and they do not want to lose in their services, therefore registered business are termed as more understandable as compared to the unregistered one.
Limited liability partnership is probably the most overused terms when it comes to “ benefits of Business Registration”, however people are still fuzzy about its meaning. So Limited Liability means that a company is a separate legal entity and it has to bear its own losses.

Conclusion

When it comes to business registration, there are many but when we talk about its benefits, there we lack, I hope that through this blog we have enlightened you with the understanding of what the benefit actually means.

April 2, 2020April 2, 2020

What Is Trademark Rectification ?

What is Trademark Rectification?

Trademark rectification is needed when there is a need for any kind of alteration, change, modification or rectification in the registered mark or in the register of trademarks, or rectification of the trademark register by such aggrieved party.

Trademark rectification rights in India is governed by chapter VII of the trademark Act, 1999. Under section 57 of the Trademarks Act, any person who is aggrieved by the entry in the trademark register can file for trademark rectification before the registrar of trademarks. However, in certain cases consequences can be cancellation of trademark registration.

Who can file Trademark Rectification?

It can be filed by the owner of the trademark itself, or
It may also be filed by the party or entity being aggrieved by such entry.

Common grounds for filing Trademark rectification in India

Due to latest knowledge or advancement
Due to non-use of registered trademark for over 5 years by the registered owner.
Due to non-renewal of the original or previous registration of the trademark.
In cases where inclusion of addition of certain more classes of goods or services to the business gamut of the registered trademark.
Conditions which are beyond any more grounds stipulated in section 9 and 11 of the Indian Trademark Act, 1999.
The certain omission of any entry eg, a disclaimer, condition or limitation.
Where the registration is obtained by misrepresentation of facts, similar to an earlier mark registered and lacks sufficient cause for registration.
Cases where mark was wrongly remaining on the register and causing or likely to cause confusion.
When the renewal fee has not been paid.

Procedure for Trademark Rectification In India

Procedure for Trademark rectification in India includes following hings-

In cases where trademark registry has marked the trademark application as Formality check or send back to EDP, therefore in this case option of rectification and of being is being given and it requires to be resubmitted. In such cases, rectification deed is required to be prepared to address all the concerns of the trademark examiner-

TM-O form is required to be filled in order to file trademark rectification.
Make sure that your trademark rectification application is a clear and crisp statement of grounds related to the application.
You must support your arguments with strong evidence to support rectification of the specified trademark.

We have immense and diversified experience in handling Trademark rectification cases and shall suggest more professional ways to avoid trademark rectification.

April 1, 2020April 1, 2020

Vinubhai Haribhai Malaviya and Ors. vs State of Gujarat

A recent judgement of the Supreme Court of India on criminal law passed by the quorum of justices Rohinton F nariman, Surya Kant and Ramasubramanium. The judgement holds that a power exercised by the magistrate under section 156(3) of the Cr.Pc. is post cognizance.

The question arises by the Supreme court that once Chargesheet is filed by the police after doing proper investigation, then whether Magistrate has the power to pass an order to the police officials for further investigation under section 173(8) and if so then upto what stage of criminal proceedings?

Different views were given by different judges which also creates doubt in the judicial minds. Then after a near exhaustive survey of the conflicting decisions, the Bench in malviya held in favour of the view that a magistrate has power to direct further investigation by an investigating agency post cognizance on a police report right up to the stage of framing of charge that interpreted section 173(8) crpc restrictively. This view was acceptable as it was undoubtedly redounds in the interest of justice.

It is pertinent to note that the Bench in malviya was concerned only with the question whether post cognizance a Magistrate could direct further investigation under section 173(8). Whether a magistrate exercising power unders section 156(3) was acting pre cognizance or post cognizance was not at all the issue in this case.

Thus it is undoubtedly correct that section 156(3) and 173(8) operate at a different stages of investigation like section 156(3) operates at pre cognizance stage whereas 173(8) operates at the post cognizance stage as it is intended to supplement a completed investigation.

It is pertinent to note here that the power of magistrate under section 173(8) is not derived from his power unders section 156(3) but is a distinct and independent power.

This proposition regarding the meaning of “taking cognizance” has been often repeated in many apex court judgment. Had the bench of Malviya been cognizant of this well established proposition of law, it is doubtful if it would have arrived at the unfortunate finding in paragraph 26 of the judgement.

“The power unders section 156(3) can only be exercised at pre cognizance stage was an erroneous finding in law”.

Judgement

Therefore it was held in the case that a three judge bench of the Supreme Court Of India virtually overruled a 43 year old precedent and held that magistrate can invoke power under section 156(3) of the code of criminal procedure even at the post cognizance stage. The Bench headed by Justice RF nariman held that this judgement was rendered without advertising to the definition of “Investigation” in section 2(h) of the crpc. It was observed that the finding in the law in the said judgement that the power under section 156(3) crpc can only be exercised at the pre cognizance stage is erroneous.

March 12, 2020March 12, 2020

TRADE LICENSE

When any organization, an individual firm is planning to start its business operations at small or large scale it needs a license to carry on the business activities and that license is termed as Trade License.

It is mandatory for the organization , firm or business entities to have a license for commencement of any type of business .A company or business enterprise should obtain the license within 15 days from the commencement of the business or 03 months prior starting the business.

The state government together with the municipal corporation of the area regulates the licensing process. There are different mechanisms of charging the application fees and some pay annually while others make it as per the annual turnover.

Therefore an applicant shall be at least 18 years of age , should have a clean and right image in the society and free from any type of criminal activities or no case of criminal activities under his name.

CATEGORIES OF TRADE LICENSE –

A] CATOGORY 1 –

This category includes mostly business of consumable items and eating places

B] CATOGORY 2 –

These categories include licenses to those businesses which are mainly engaged in industries , workshops , flour mills etc.

C] CATEGORY 3 –

For business related to firewood , charcoal etc. the above category is being provided

DOCUMENTATION REQUIRED FOR TRADE LICENSE –

There are various documentation being required in order to get the license of the trade license which are being highlighted below –

1] The bills of the place where business or operation will be carried

2] Agreement of the rent or lease

3] Receipt of municipal taxes

4] Certificate of the registration of shop as per the act

5] Applicant Id proofs

6] Copy of blueprint of the premises or workplace

7] Pan card details of the applicant

8] If the business is managed by some other person irrespective of the owner therefore provide ID proof , photo , Address detail of the manager

9] Non objection certificate from the fire department

MINIMUM REQUIREMENTS FOR OBTAINING TRADE LICENSE –

A] AGE CONDITION –

It is mandatory for an individual or applicant applying for the license to be 18 years of age.

B] LEGALITY –

The company or applicant applying for the license should have business activities legal and valid in the eyes of law.

C] CRIMINAL CASE –

The applicant should have no criminal background and carry on a clean image in society.

TRADE LICENSE RENEWAL –

A trade license is not a one time license only and shall be renewed on time to time basis.

In some states and cities , it is compulsory to pay a certain amount of annual fees in order to renew the trade license.

The renewal is done between 1st January to 31st march of every year.The renewal application should be made at least 30 days before from the expiry time so that it shall be done in time.

In case of delay , there is a late fees fine of 50 % of the total trade license fees incurred.There are certain documents to be submitted with the application for trade license renewal :

1] Copy of the original license

2] Tax payment receipt

3] previous year challans of fees being paid

DENIAL OF THE TRADE LICENSE APPLICATION –

Sometimes the application applied by the applicant for trade license purpose gets rejected , under such circumstances one can make appeal in the to the standard committee or file a petition to them with the relevant documents together with the copy of letter of denial so that the matter can again be considered for approval of trade license

February 29, 2020February 29, 2020

How to use Copyrighted Content?

Copyrighted content is a content on which owner has the exclusive right over the work. To need this protection, one has to undergo with the copyright registration Process. It is regulated by the Copyright Act, 1957. Copyright Registration grants the right to the creators of Literary, Artistic, Dramatic and Musical and the producers of cinematographic films and sound recording.

How to identify the owner of the copyrighted Product?

As we all know that copyright protection is only given to those people who have made or created original work of their own. It is therefore always advisable for every person who is willing to copyright their product is to always take expert advice regarding their product who can help them in a better way.

How to use Copyrighted Content?

Now you must be thinking that whether you require the permission to use Copyrighted content or not. Then let us inform you that you may come across either of the cases-

There are basically two instances of using a copyrighted content- when prior permission is required to use a copyrighted content.
When no permission is required.

Cases where no Permission is required-

If the copyrighted content is already in the public domain, then anyone can use it without any prior permission. Public domain means that the owner has not taken copyright protection from the Registry, therefore it is open for everyone to use the Copyrighted content.
Whenever work is released under open License, For example, creative commons, then that work can be used by anyone, as long as you comply with the terms of their copyright License.
There is no need to get permission from the owner of the work if that work falls under the category of fair use. It may be a tricky business, therefore it is always advisable to take some expert advice on these issues.

2. Cases when permission is required-

We all are creating copyrightable content knowingly or unknowingly. For eg. by writing an email, blogs, clicking a selfie etc. finding a copyright owner may become a tricky business. Now let’s take a look, what needs to be at the time of finding the copyright owner.

Whether the creator of the work is alive or not, to use their product it is mandatory to take their permission before using the copyrighted content.
If the creator of the copyright has already assigned or transfer the wok to someone else like a record label, publisher or created work as a part of their job, then you need to contact the entity. You could always contact the licensing department to seek permission.
There are certain organizations, to which the creator of the work can subscribe to get royalties on their work. These organizations are known as Performing Rights Organization (PRO) and Reproduction Rights Organizations (RRO). PROs deal with the publicly related work on the national level, such s music. RROs deal with the work such as technical, medical and cultural work on the national and international level.
If the author of the work dies then it is automatically transferred to the legal heir of the creator. But it is not easy to track down the family members of the author.
Here are orphan works are also available in the market, whose rights holder cant be determined and it seems impractical to establish the inheritance rights in these cases. Or the rightful owner was never aware of the rights of the copyrighted work.

Conclusion

So for the next time, if you intent to use copyrighted work, then you must go through the guidelines which are provided above to reach the copyright owner. For any assistance regarding copyright work. Kindly contact BIAT Legal.

February 29, 2020February 29, 2020

What is loan against Bonds?

A Bond is a fixed income instrument that is given to a borrower by an investor.

Bond is like a loan which you take from an investor. For eg. if you buy a Bond from a company, then you have that amount to the company, and like any other loans you earn an interest on your investment.

What are the documents required for loan against shares?

For an Individual borrower

PAN Card
Aadhar card
One Cancelled cheque/ Bank Statement

For a Company Borrower

MOA/AOA
List of Directors
Shareholding pattern
Board Resolution
PAN Card and address proof of the company & Director
Cancelled Cheque/ Bank statement

FAQs

What is loan against securities?

Loan against securities is available in the form of an overdraft facility which is pledged against securities like shares, units and bonds. Loan against shares/bonds/Mutual Funds 8is basically a loan where you pledge the securities you have invested in as collateral against the loan amount. A loan against securities is the best way to make your investment work harder and smarter than you.

Loan against securities have following features and benefits-

It has High Loan Value as it is up to 10 crores.
Dedicated relationship manager is available 24/7 to assist you with all your request.
Nil part payment and foreclosure allows you to repay the loan at your convenience, as and when it’s feasible for you.
Online account management is there, as you can manage your account from anywhere. Easy documentation is there as it does not require any financial document to avail ona against securities.

What is loan against Shares?

Loan against shares enables you to borrow funds against listed securities such as shares, Mutual funds, insurance and bonds to meet your current financial needs.

Its Features and Benefits

It has High Loan Value as it is up to 10 crores.
1. Dedicated relationship manager is available 24/7 to assist you with all your request.
2. Nil part payment and foreclosure allows you to repay the loan at your convenience, as and when it’s feasible for you.

What is the interest rate for loan against asset?

Where a borrower pledges an asset as a collateral. With this type of loan, the borrower gts access to a high loan amount at affordable interest rates. A borrower can avail upto 80% of the asset value. Some of the common type of loan against asset includes-

Loan against commercial and residential property.
Loan against cars
Loan against investments such as fixed deposits.
Loan against securities like mutual funds, shares, bonds, insurance policies.
Loan against valuables such as gold.
Loan against investment such as Fixed deposits.
Loan against valuables such as gold.
Loan against Land.
Loan against future payments such as the rent of commercial properties.

What is a secured Loan?

A secured loan is a type of loan in which a borrower pledges an asset such as car, property, equity, etc against that loan. The loan amount made available to the borrower is usually based on the value of the collateral.

Types of secured Loan

Real estate, including any financial equity earned since purchasing the residence.
Bank account such as savings accounts and fixed deposits.
Commercial and residential property
Private vehicles.
Stocks, mutual funds, or bond investments.
Insurance policies, including the insurance
Precious metals, high end collectibles, and other valuables.

January 29, 2020January 29, 2020

PEER TO PEER [P2P] LENDING LICENSE

The Peer to Peer lending can be defined as a mode of business where a platform in digital form is provided to an individual or an entity for raising loans or fund at certain interest rates and is needed to be paid back as per the specified terms and conditions.The interest rates are either set by the lending organization or after mutual discussion between the borrower and lender etc.

In India ,the Peer to Peer[P2P] lending business has been extended to 5 billion dollar as per the reports being concerned.Therefore the entrepreneurs and startups business can easily avail loans from this platform without much documentation.

In such lending there is no involvement of any financial institutions and banks and the lenders are free to choose the borrowers whichever they want to give loans. This form of lending money is getting very famous among investors as they get a higher rate of return through the Peer to Peer[ P2P] lending business.

The Peer to peer lending companies are being regulated through Reserve Bank of India [RBI]and therefore reserve bank of India reserves power for providing lending license to the applicant.

TYPES OF PEER TO PEER LENDING MODEL –

There are namely 03 types of model being defined below ;

A] CONSUMER LENDING –

The consumer loans involve small personal loans taken by the individual for purchase of car , bike , marriage expenses , home repairs , Repayment of credit card etc.

B] SMALL BUSINESS [SME] LENDING –

The loans provided to small businesses for various purposes such as asset finance , working capital , business to be extended etc .

C] PROPERTY LENDING –

Under this lending ,the applicant borrows loan for purchase of property ,commercial ,refurbishing of house etc .

ELIGIBILITY TO APPLY FOR PEER TO PEER LENDING LICENSING –

In india one needs to fulfil certain conditions in order apply for the peer to peer lending license-

1] A company should be registered

2]The applicant shall have adequate amount of capital structure

3] The applicant company shall have technological , managerial ,

4] A pure motive to serve the public and its interest

5] a proper business layout and plan

6] The board of directors shall fulfill all terms and conditions of RBI

PROCEDURE TO OBTAIN THE LENDING LICENSE –

Any company being registered as private or public limited company can apply for the license with the reserve bank of India.They need to fulfill the conditions below –

1] The applicant company must be registered as a private or public company under the eyes of law and have an objective of doing financial financing of money.

2] The Minimum net owned fund should be Rs.2 crore .

3] There should be efficient information technology system i.e mobile application for the workflow

4] The online application form is available at the RBI website.

5] The hard copy of the application together with required documents to be submitted to the office of the reserve bank of india.

6] After doing detailed and vigilant verification of the application and documents attached with it , the RBI provides the license certificate to the applicant company .

MERITS AND DEMERITS OF PEER TO PEER LENDING PLATFORM –

There are various merits and demerits of peer lending platform for both borrowers and lenders and these are highlighted below –

FOR BORROWERS :

A] MERITS –

1] The first and foremost benefit is the amount of loan received is either at fixed rate of interest or low interest rate as compared to other financial institutions .

2] The documentation is very simple and easy as compared to documents required while taking loan from financial institutions

3] The fees and other charges required are low as compared to banking institutions

B] DEMERITS –

1] There is high use of information technology and there is a lack of security as documents can be leaked or information can be wrongly utilized.

2] The amount of loan provided is less as compared to the financial institutions.

FOR LENDERS :

A] MERITS –

1] The return of the investor is higher as compared to the risk taken

2] The investor is happier as he has diversification and more places available to invest his capital and earn more.

3] In peer to peer lending ,the lenders communicates with the borrower directly to finalize the deal

B] DEMERITS –

1]The risk factors involved here are higher and uncertain as compared to the banking financial institutions

2] The returns are lower in comparison to public traded index fund

3] The future possibilities are uncertain and unrealistic and it’s too early to make future opinions of this type of industry

January 18, 2020January 18, 2020

What is a Business Loan?

Business Loan is a kind of financing you can avail to meet the business needs of your growing business.

In short if you need funds to expand your business, or you need to buy machinery or boost production then you can opt for business loan.

Different types of Business Loan

Following are the types of business loan and they are as follows-

Working Capital Loans- When there is a need of Short term business liquidity, they need to have an adequate and constant cash flow. Then working capital loans comes in the picture.
Machinery Loans- When there is a need to purchase a machinery or are planning to upgrade their plants and machinery, so it requires a funds in both the situations. Machinery loans are one of the types of business finance that provides capital for your fixed asset needs.
SME and MSME Loans- Loans are provided to small businesses owners who are looking to expand their business operations and market each.

Things your Business Loan Application must include-

Whoever needs a bUsiness Loan is required to give an application with their Business Plan. By submitting a business plan to any Bank authority it is easier for them to evaluate whether that business is economically viable business or not and that decides the repayment capacity loan of yours to the Bank. it is obvious to translate your ideas on paper and the bank can see your vision. Here are some of the principal sections to include-

Executive Summary- an Executive summary gives a short summary of your entire plan. This allows banks and other lenders to evaluate the economic viability of your business.

Business Description- After Executive Summary, them comes Business description. Make sure that it includes all the main aspects of your business.

Human Resources- It is important for a business before seeking for business loan that they have a strong team behind the business. Principle this should include the profiles of the executive team which includes, CEO and CFO and anyone else involved in the higher level. Make sure to add their previous achievements to demonstrate their ability to run their business.

Budget and Finance- this is one section that bank will scrutinize in every possible detail. While the idea is important to them they really want to see that how much you want to invest, what your regularly expenses would be and how will you be making revenue.

Promotional Plan- lastly, it should include the Business or Promotional Plan. how will you get you services or product out there.

Supporting Documents requirements-

Following are the supporting Documents that are needed-

Identification
Bank Statements
Proof of address
Business Registration Documents

FAQs

What are the things which you need to know before applying for a business Loan?

Prior to starting you application with Bank, it is always advisable to be well prepared. Here are the following things which you should consider before submitting an application

Check your credit rating- A large portion of investors decides to give loan to you by checking your CIBIL score. So before applying for the loan it is a good idea to check your credit score.
Every time you apply for a loan, your credit report registers this. If you have too many applications then your credit score could go down. So the best option is to shop around first before submitting an application.
Lastly, you should consider hiring someone to help you with the application process. Often times business owners are really good at their side of the business or are not the best at Finance and writing. The business plan is an essential section in your application, so it might be a good idea to have someone help you out in writing of the business plan. It may also be helpful to hire a finance analyst to aid with the budget section of your Business plan.

January 13, 2020January 13, 2020

ISI CERTIFICATION FOR FOREIGN MANUFACTURER

ISI refers to Indian Standard Institute and can be defined as a stamp that provides assurance regarding quality of product and in built trust and safety among customers for the Product.

In India , consumers mostly preferred ISI marked products.Therefore , there are certain products in India to have ISI certification mandatory before being sold in the market.

PRODUCTS FALL IN MANDATORY ISI CERTIFICATION CATEGORY IN INDIA-

There are certain products in India that fall under the category of mandatory ISI certification before being sold in the market.

The categories are as follows –

A] Household Electrical Products

B] Cement

C] Automobiles Industry

D]Steel Product

E] Medical Equipment

F] Electrical Transformers

G] Cylinders

H] Food related Products

Foreign Manufacturers –

The foreign companies need Product certification which is provided through the ‘’ Bureau of Indian Standard’’ scheme .Therefore a foreign manufacturer needs a BIS mark certificate to carry on the sale of products in the market.

Documents Required for ISI Marked Certification License –

There are certain documents required for the ISI Certification License . It begins with filling of application forms and all products have separate application forms to be filled. There are certain documents required to be attached with the prescribed application form –

1] Copy of Test report done in Laboratory

2] Trademark Registration copy

3] Manufacturing unit address

4]Machine details including quantity , capacity

5] Drawing of product

6] Raw materials details such as component name , suppliers name etc.

6] installation capacity

7] Factory layout Plan

8] Manufacturing process Flow chart

9] Test equipments detail

10] Packaging details

11] Organization staff details such as management and designation

12] factory details of employee

13] Location detail and distance detail of factory from airport and city center etc.

14] Detail of indian representative

INSPECTION –

After submitting the application , verification will be done by BIS and inspection will be done at the manufacturing unit of the applicant and therefore when all parameters are being satisfied , the BIS License is granted .

VALIDITY –

The BIS License is valid for a period of 1year and can be renewed thereafter by filling the prescribed application form.

BIS AGREEMENT –

The applicant shall enter into an agreement with BIS as per BIS certification Regulation,1988.

It covers various provisions highlighted below –

1] Fees

1] Termination

3] Responsibility of License

4] Nomination

5] License Cancellation

6] Bank Guarantee

6] Non Renewal

7] Indemnity

COMPLAINT REDRESSAL –

Whenever a complaint is received against a License product then investigation shall take place against it as per IS/ISO 10002 and appropriate action shall be taken against it.

In case there is high damage then License shall bear entire expenses and BIS will not be responsible for it .

RENEWAL OF LICENSE –

The license is valid for a period of 1 year and will be renewed further by filling the Renewal application form along with nominal fees and will be certified through a chartered Accountant .