Provisions Relating to Change in Registered Office of Company

A registered office is usually known as the legal address of the company, where all the notices, letters, reminders of tax by the government are sent. Under Section 7 of Companies Act, 2013 it is mandatory for all the companies to get registered in India. When any individual starts his or her company he prefers to get the nearby location where all the stakeholders and the directors reside. The main reason to shift from one location to another is generally related with the small space, locality, and could be anything which makes it necessary to change the location or address. Have a look at the procedure for change in registered office of company:-

• Assemble and Hold a board conference meeting to Fix the Date, Time and Place of the General Meeting and approve the notice of General Meeting and call for General Conference. Approve the Director to move an application before RD to adjust provision II of Memorandum of association inside which purview the Office of the organization (before Change) is arranged.
• The board might approve the executive and the secretary to see that the assent of the banks and debenture holders if any, which is acquired or that adequate arrangements are made for the release of their obligations or insufficient security is made under Section 13(5).
• Send notice to all the individuals about the general meeting alongside articulations that comes under Section-102.
• Hold General Meeting and pass Special Resolution supporting the moving subject to the endorsement of the RD.
• Post-endorsement from a part, need to furnish a duplicate copy of the Special Resolution alongside a logical proclamation and a changed duplicate copy of MOA in 30 days.

What Are the documents required to change in registered office of the company?

• Copy of MOA, AOA &CTC of board resolution is required,
• Publish a notice to all the members, regarding the general meeting with proper explanatory statements,
• Pass the special resolution copy which is consists of the sanctioned alteration by the members,
• Affidavit verifying the list of creditors is needed,
• Documents related with the payment of application fees is required,
• Form MGT-14 with the paid challan,
• Petition for shifting the registered office of the company,

There is a long list of documents that are required and our professionals can help you to manage them with ease, all you need to do is to contact our specialists who are here to help you file for the change in registered office of company. There is a particular time limit within which the forms are required to be filed such as MGT- 14 should be filed within 30 days after passing the special resolution, INC-23 must be filed within one month after serving the notice to creditors &after the publication in the newspaper advertisement. INC-22 must be filed within 15 days, once the order is passed by RD, GNL-1 will be filed along with the form of INC-23, and so on. It is not that much difficult to follow the procedure but it is time consuming. We are here to guide you step-by-step, so rest assure on us and feel free to contact us.

Original Source: http://swaritadvisors.over-blog.com/2018/06/provisions-relating-to-change-in-registered-office-of-company.html

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Essential Highlights On Nidhi Company Registration

A Nidhi company is categorised as the NBFC but it doesn’t involve RBI license.

A Nidhi company Registration comes under the section 406 of the companies Act, 2013. The fundamental business is taking and giving money (a borrowing and lending by monitory means) within its members making it a mutually benefiting company.

These activities are controlled by the ministry of corporate affairs. Nidhi Company has its basic concept of mutuality principals or “paraspar sahayata”, which work for the benefit of members or shareholders.

How was Nidhi Company formed in India?

To form a Nidhi company in India, you will have to incorporate a limited company, under the company act 2013. With at least 3 directors and 7 shareholders, a Nidhi Company can be formed. However precautions must be taken as to make sure that the aim of the company is encourage savings among its members. The borrowing and lending of the money among the members only for their mutual benefit.

After the Nidhi company Registration, it should have the following:-

• At least 200 of the shareholders.
• The net owned funds by the Nidhi Company must be at least 10 lakhs or more.
• The net owned fund ratio of deposits must be 1:20.

What are the advantages of Nidhi company registration?

• There are institute offices that are single and have no outside interference.
• There must be mutually beneficial societies building a habit of saving between their involved members and work for the benefit of their depositing and borrowing members.
• Deposits are usually much lesser than handled by the other institutions in financial sectors.
• The term deposit is accepted by the members of only for a period of safe returns. It wouldn’t require any RBI license.
• This should provide easy loans to the involved members. The repayment is limited to just one year and 7 years, against the immovable property or the jewellery as their security. The less rate of interest is charged as compared to the bank loans.

What are the essential points of Nidhi company registration?

• Nidhi Company has to be incorporated as a public limited company with minimum of 3 directors and 7 shareholders and a sum of 10 lakh rupees as capital.
• Nidhi company registration is done as a public company registration, and the process is same as a public company except for few additional steps.
• The net owned funds must be 10lakhs or more than that.
• The company must have no burden or impediment deposits not less than 10% of the outstanding deposits.
• A Nidhi company registration in India should have registered as nidhi limited being part of its name.
• A Nidhi company must not issue preference shares.
• The ratio is 1:20 and not exceeding net owned funds.

In case if you are looking forward to get the help of a professional who can guide you how to apply for Nidhi Company Registration then feel free to contact us anytime, we will guide you properly with a step-by-step procedure.

 
Original Source:- https://swaritadvisorsindia.wordpress.com/2018/06/01/essential-highlights-on-nidhi-company-registration/

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What Are The Key Highlights Of Limited Liability Partnership?

The limited liability partnership is a certain body that has its own separate entity from it’s partners and perpetual succession.The limited liability partnership in our country is governed by the limited liability partnership act 2008 and hence the provisions of Indian partnership act 1932 are not applicable to it.Each of the limited liability partnership is supposed to use the words “limited liability partnership” or it’s short form “LLP” as the last words of its name. A limited liability partnership is basically a result of an agreement between certain partners with mutual rights and certain duties of the limited liability partnership and that is determined by the agreement subject to by provisions of limited liability partnership act 2008.

Because limited liability partnership is a separate legal entity, it is liable for it’s all the assets, with the partners limited to only the amount of contribution by them. Just like a company. There shall be no partner individually liable for any of the wrong doings of other partners. But however if a limited liability partnership was formed for the mare purpose of defrauding the ones to credit for or in the matter of any fraudulent purposes, then here liability of partners with their knowledge shall have unlimited liability.

There has to be at least two of the designated partners in each limited liability partnership that are residents of India.

• Each limited liability partnership must maintain accounts annually showing it’s true states of affairs. It must also prepare a statement of accounts and periodically it has to be every year and has to be filed with the registrar.
• The central government, investigate, whenever they feel it’s fit to do so of the limited liability partnership by appointing a good and competent inspector.
• A private company, firm or any unlisted public company has the option of converting itself into limited liability partnership as per the provisions of the 2008 act. On such conversion, the registrar shall issue a certificate to that effect. After issuing that certificate of the Registration, all of the property of firm or the supposed company shall stand dissolved. The company name is then removed from registrar of the firms or the registrar of the companies, whichever shall be the case.
• Just like any company, a limited liability partnership may wind up, either voluntarily of by the Tribunal that is established under the companies act.
• The limited liability partnership act 2008 will enable the central government for applying the provisions of the companies act, whenever it shall think it’s appreciate and must then issue notification to that effect provided. Such a notification has to be laid down before each of the house of the parliament for a time period of 30 days and then it shall subject to any of the modifications as they may be approved by both house.

Form where did limited liability partnership in India came from?

Recommendations that came from J.J Irani committee and the Naresh chandra committee -2 had led to the formation of a draft bill that produced the limited liability partnership in India. The cabinet had approved their bill on 7th of December, 2006. This was then tabled in Rajya sabha on the 15th December 2006. The final report to the ministry for corporate affairs by submitted by the committee. In the bill limited liability partnership, got approved by the cabinet on 1stMay 2008, making the provisions for the formation and regulations. Both the houses in parliament passed the supposed bill without any recommended changes. This bill later got assent of the president on 7th of January 2009. This bill in the form of limited liability partnership act 2008 was published in official Gazette of India on the date of 9th of January 2009. The limited liability partnership act 2008 hereby provides the formation and the regulation of limited liability partnerships and all the matters that are connected to it.

Original Source:- https://swaritadvisors.com/learning/what-are-the-key-highlights-of-limited-liability-partnership/

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What Is NGO Registration?

An NGO or non-governmental organization is an entity which is not for profit but is created for the welfare of the poorer areas of the society or those who are backward or for a specific reason. The motive of the NGO firm could be ecological, related to human or animal’s right, enhancing the healthcare for youngsters, awareness about an art, etc. Numerous NGOs are sometimes fronts for political interests. But being a non-profit organization, these entities can't pay out any benefits to the individuals or members rather, any benefit must be reinvested toward the cause for which it is. In India, an NGO can be set up as a trust.

What are the methods for NGO Registration?

NGO Registration in India can be done as trust registration.

Trust Registration- One way through which you can enroll a Non-Government Organization is by enlisting it as a trust registration. This sort of technique is utilized by NGOs who work with annihilating poverty, giving medical assistance and education to them. You must be aware of this that trusts are unalterable. This implies that they can't be changed without the authorization of beneficiary.In spite of the fact, that there is no national law that represents trusts.

What is the process of NGO Registration?

Under the trust registration process, a person who has the power or property which is transferable, can create a trust organization.Similar to NGO, trust also needs to get registered, and the process is very simple. If you begin the process of you will require the name of the trust, registered address, two trustees of the trust, one settler of the trust, you must have the object for the trust such as charitable or religious property of the trust which is movable or immovable.

What are the Documents Required for NGO Registration?

When you have all the documents prepared, you are prepared to register your NGO. Make sure that you have every essential document for secure processing.

Following are the documents that are required to be submitted to the Registrar as follows:-

• A letter asking for registration, signed by the members of the NGO. This letter will contain the purpose of NGO demonstrating that it is enlisted under an Act. The signature of all members is necessary.
• A certified copy of the tenets and rules signed by the founding members with aduplicate copy is must.
• The names, address, qualification, an occupation of all the members with their signatures.
• Address proof of registered office is required as well as a no-objection certificate from the landlord.

There are many reasons as to why it is better to register an NGO, one most important reason is funds. You will receive funds from various sections and the money that you will get, you will have to put in banks. And you can create your bank account under your NGO organization name. NGO Registration documents show that your funds are under the name of NGO. If you have any query regarding trust registration then let us know by contacting our experts at Swarit enterprise.

Original Source - https://swaritadvisors.com/learning/what-is-ngo-registration/

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How to Make Change in Registered Office of the Company?

This article will help you with the process to make a change in registered office of the company if you own a company or a business.There are resolutions required by the company for changing the address of the registered office.Any business or a company who wishes to change the registered office of their company from one place in a region to another then your company must pass a particular special resolution in its general meeting, with its board resolution which is also required to be passed. This is authorised by the company director’s signature and then the form INC-22 is submitted with ROC.

How to get approval for change in registered office from one state to another?

If anyone requires making change in the registered office address of the company from one state to another then the company must apply for the approval of the director of the region and then the company has to also file for such an approval to the regional director by filing a form INC-23. Once this is approved by regional director then the approval needs to be presented to ROC within the time span of 60 days. When ROC too has confirmed the change within the 30 days of time for approval application.

What are the steps in the legal process of change in registered office when there is change from one ROC to another ROC?

Primarily the company must amend MOA which is the memorandum of association of the company. It wouldn’t have any provisions regarding the same. A certain special resolution must be passed by the company for its alteration in the memorandum of association and this is then required for filing to the ROC as per the form number MGT-14 and that has to be within 30days of passing the resolution.

Now for making a change in registered office of company from one state to another state in India, following documents will be required to be attached along with the form INC-23.

• Copy of memorandum of association and AOA of the company.
• Copy of the notice stating the general meeting of the company.
• Copy of the minutes of conducting the general meeting for presenting the resolution that sanctions the alteration of the location of the registered office of the company regarding MOA and AOA.
• Along with an affidavit that verifies the application.
• The other documents that is related to the application fee payments.
• The board resolution copy and the central government may dispose of the application within 60 daysof the change of registered office with the consent of its creditors, the debenture holders and other some persons that are concerned with the respective company.
• The approval is to be sanctioned by the central government and shall be filed with registrars for that of both states. That is the one where it was situated and the one which is relocating to.
• And the very last step is registrar of the new state. He shall keep the records of this change in the registered office and accordingly shall also issue a fresh certificate for the company mentioning the change in the registered office of the company.

For more insight details you may contact us anytime to get support for your problems and queries if you are making change in the registered address of your company. We will feel glad to help you.

Original Source - https://swaritadvisors.com/learning/how-to-make-change-in-registered-office-of-the-company/

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How Patent Registration Can Be Useful For Individual in India?

Each day there’s an increase in individual inventors and small to medium sized businesses regularly asking to patent their work by patent Registration. The process of Patent Registration will be discussed in this article.

What is a patent and Patent Registration?

A patent registration is an absolute exclusive right of ownership to their invention or discovery granted to a particular person or an inventor or territory or an assignee by the Indian government to exclude others from using, making or selling or even importing the patent holder’s work.

Any invention or discovery can get a patent registration if it follows with following points:-

1) Novelty- An invention or discovery has to be new and not something simply modified. It can not be a prior state of art. The prior art reference is for everything that’s been published and presented or rather disclosed in front of the public by means of newspaper, website or any research article in a journal as of on the date of filing for the patent.

2) The inventiveness -Any inventive step means a feature of any invention that is supposed to involve any technical advances in comparison with the already existing knowledge and that would make the invention no so obvious to the person quite skilled at that art. The invention wouldn’t be considered so if the inventive step is not inventive in mind and is just combination of teachings of different documents available to the public.

3) Utility or industrial- An invention must be truly capable of being reproduced and used in some kind of industrial engineering. It must take shape of a device or an apparatus. A product such as some kind of new material or any industrial process. An inventor is certified for its patency only if –
a) It can be remanufactured.
b) It can be used at least in any one activity.
c) It can again be reproduced with exactly the same features or properties as many times required.

What Are The Types of Applications for Patent Registration?

• Provisional application–A provisional application is something of a temporary application field with a patent office, that’s to claim a priority date. So when an invention isn’t yet complete in every aspect, this application will be helpful. It is relatively less expensive to prepare and file which enables the investors to study the feasibility of their invention. However it’s complete application must be filed within 12 months or else it’d be treated as an abandoned work.

• Complete application–An application for patent registration containing the complete specifications and it claims of the invention is called a complete application.

• Convention application–when an applicant files the application for patent registration claiming a priority date based on the same or similar application filedin one or more than one of the convention countries and this is called convention application.

• Patent co-operation treaty or PCT for short. – It’s an internal application for patent registration. It’s an international agreement to file a patent Registration application that has an effect up to 138 countries.
Note: PCT doesn’t grant you an international patent.

Original Source - http://swarit-advisors.blogspot.in/2018/05/how-patent-registration-can-be-useful.html

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How To Change The Name Of The Company?

When you plan to build or start your organization, you can feel like you've been put on the spotlight. But what will you name your new organization? This ought to be something that you should consider important - it's how the customers are going to know you and your business. However, in spite of the fact that, it is technically true that you can obviously Change Company Name whenever you wish to.

What You Should Consider Before Changing Your Company Name?

Definitely you must be thinking would it be a good idea for you to change the name of your organization? Let us consider few things before you think of changing the name of your organization.

• Affordable or not? - When you make your mind to change company name, it’s not only about the name but its everything attached to it such as your product and services as well, including websites, logos and everything. So make sure whether it is affordable or not.

• Is Your Company Established?- Have your company achieved the desirable reputation in your serving areas? If you have made your mind to change company name then it could cost you business.

• Is it necessary to change company name?- Make sure that are you hurrying in changing the name of your business. In case if you have a weak business name or too complicated then you can think about it, but if its perfect then you must not opt for it.

What Is The Step-By-Step Process To Change Company Name?

1. Board Resolution of the Company- according to the Section 173(3) of Companies Act, 2013 board resolution is prepared for the change in the name of the Company. Here they will suggest proposed names for your company and set meeting of shareholders.

2. Check the Availability of Name on Trademark & Website Search- Once the resolution is passed, availability of name is checked whether the name is available or not.

3. Approval of new Name by the Registrar of the Company- Once the approval of new name is done, they issue Name availability letter for the name of the company and this name will be valid for 60 days as per Section 4(5).

4. Passing Special Resolution for Company Name Change- Here in this step change in company name & alteration of MOA & AOA is done. If the owner change company name due to the change in business then main object in MOA is also changed. Liability clause in MOA is amended and new MOA & AOA is adopted which are in accordance with Companies Act 2013.

5. Insurance of new Certificate of Incorporation- In this step Registrar of the company check and review the documents and the forms that has been submitted. If your verification is done without any problem and error then they issue the new incorporation certificate where they state the new name of your company that has been proposed. And it will come into effect from the date of the issue of the certificate.

6. Changes to MOA & AOA- Once your new incorporation certificate is issued then company must make changes in MOA & AOA.

These are the basic steps which you have to follow while going through the process of changing your company name. For further details or inquiries you may anytime get in touch with our professionals.

Original Source - http://swaritadvisors.over-blog.com/2018/05/how-to-change-the-name-of-the-company.html

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