How To Get Your Company Name Changed In India?

You already have a name for your company and you now wish to change it, it can be done anytime. And in this article we’ll discuss exactly that. To begin with company name change procedure you need to get consent of the shareholders through a special resolution and the MCA approval which is required. This change in company name of your private limited company will have no impact on its legal entity or its existence as a corporate entity. This change will not create a new entity so it’s obvious that the change company name shall not; in anyway also will affect the rights and obligations of the company. Rendering any defective or any legal proceedings by or against the company won’t affect any legal proceedings by or against the company, they may simply continue so with the old name.

Procedure for name change of private limited company. 

1. Board resolution – A board meeting needs to be conveyed for passing a resolution for the company’s name change and then to authorize a director or any company secretary for making an application to the MCA for knowing if there’s an availability of proposed name. Now at the same board meeting, a resolution to convey an extraordinary general meeting for making the change in the name of company and then altering the MOA and AOA can be passed.
2. Checking the availability of supposed name. – Once your resolution is passed, you need to know if the supposed name is available or not and reserve the name through RUN Service. The name must be as per the companies act 2013 guidelines for naming the company.
3. Passing the special resolution for change in name of private limited company. When the name is approved by MCA then the company must again conduct an extraordinary general meeting and pass a special resolution for the name change of their private limited company. And file such change in MGT-14Following the consequential changes in MOA and AOA.
4. The application for the approval of name change of the company – once that special resolution is passed, it’s time to apply for getting it all approved by the registrar of companies. An application has to be made for the company name change needs to be made via the form INC-24 along with the required fees.
5. Issuing the new certificate of incorporation – when the registrar of companies is satisfied with given procedural documents, he would issue a new certificate.
6. Making the changes in MOA and AOA – when the new incorporation certificate is issued, subsequent steps to incorporate the new name must be taken in all the copies of AOA and MOA and the certificate of incorporation which is issued by the registrar.

These are the basic procedures that are required when you are willing to apply for make change company name online. For more insight details you may anytime contact our experts at Swarit Advisors, we are the best online legal service providers to our customers.

Source: https://swaritadvisorsindia.wordpress.com/2018/06/13/how-to-get-your-company-name-changed-in-india/

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What Is Trademark registration In India?

An intellectual property is a creation of a human mind which deserves its acknowledgment as credit. An intellectual property may be an invention, literature, something artistic, designs or symbols. This is protected by the law of patents, copyright, and trademarks. This shall enable a person to get recognized or get financial benefits from whatever they invent or create.

Any trademark basically brands your business, its products or its services in a certain significant way. A trademark would generally refer to a brand or a logo. The trademark registration can most certainly also be obtained for some kind of a business name which is distinctive and with catchy phrases, taglines or a caption.

How to pick a trademark for the Trademark Registration?

Any trademark for trademark registration must be chosen Very carefully. Even in case you are launching any product and adopting another new trademark. Most commonly done mistake is picking a word that’s not describing the goods and services.

How to search a trademark for trademark registration?

The search of availability of trademark you choose is highly advisable. That too before you invest in a trademark along with the guidance of an experienced attorney of trademarks would be worthwhile.

How much time does it take to get trademark registration?

It just takes about 2 to 3 days for completion of a trademark application for the trademark online registration. However, sometimes it could take about 18 to 24 months for obtaining trademark registration in a very straightforward way and without any obstacles.

What is the validity of the trademark registration?

Once you have your trademark registered, it’ll be valid for a straight period of 10 years right from the date of application for trademark registration. And it is to be renewed every 10 years along with the fees.

What is the process of trademark registration?

It will take three days for filing a trademark application for trademark registration process. After which you will be able to use the trademark symbol. However, the trademark office will take two years for doing trademark registration.

Steps of trademark registration in India

Apply for the trademark registration which is a 3 step process.

1) Identify the class and identify the conduction of a trademark search. Meaning that trademark registration must be obtained for some particular class or any category which hour business represents. If your business or your brand are representative of various businesses then your trademark registration must be obtained separately for all the categories that respond to your business. The very next step is conduction of the search of whether the trademark you desire is available or it’s already existing. It’s advised to conduct a general search throughout all the classes.

2) Now execute a power of attorney – the trademark registration online must be done via legal professional because only a trademark agent or an attorney of trademark is authorized for representing a client in front of the trademark registration authorities. So here this step involves execution of a Power of attorney in the favor the lawyer who will represent this case on your behalf.

3) Preparation and filing for the trademark application for trademark registration – This application could be made in the name of the individual or any entity. It’s then submitted to the registration authorities and then the process with in a day or two. You will then receive a unique number that’s generated so that you can track your application for trademark registration.

Feel free to contact specialists at Swarit Advisors anytime and get your problems resolved in the shortest time span whenever you need.

Source: https://swaritadvisorsindia.wordpress.com/2018/06/13/what-is-trademark-registration-in-india/

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What is MSME Registration In India?

MSME is a short form for micro small or medium enterprises. In India, the government has made an act for the micro, small and medium enterprises development, i.e MSMED Act 2006. This was done to boost the small businesses. Any micro small medium enterprise that is into manufacturing and service providing sector can easily obtain MSME Registration under the MSME Act.

What Is the Eligibility for getting an MSME Registration?

Now, who is eligible for obtaining an MSME registration or SSI registration online? Basically, anybody that owns a type of business or business entity that includes proprietorship, HUF partnerships, One Person Company, limited liability partnership or private limited company etc. These are the types of businesses that can be classified as the small micro or medium enterprises as per the MSMED Act, 2006 are all eligible for applying for MSME online registration. These enterprises are classified into the categories of small, micro, medium enterprises by the virtue of their investments in plant and machinery. Now just in case, the individual is engaged in manufacturing, the following is a small table to understand further:-

1. Micro enterprises – The investment and overall business is not more than Rs 25 lakhs.
2. Small enterprise – The investment and overall business is between the starting from Rs 25 lakhs to Rs 5 crores and not exceeding the higher.
3. Medium enterprise – The investment and overall business is between starting from Rs 5 crore to Rs 10 crore.

In case, where the entities are engaged in rendering their services, following is the classification:-

1. Micro enterprise – The investment in equipment will not be more Rs 10 lakhs
2. Small enterprise – The investment in the equipment would be between starting from Rs 10 lakhs to Rs 2 crores.
3. Medium enterprise – Rs 2 crores to Rs 5 crores.

How does MSME Registration help an individual in getting a loan from the bank?

The enterprises that have MSME online registration certificate will get a loan sanctioned easily, credits and overdrafts from the bank at subsidized rates in comparison with other enterprises. Which basically means that for a bank, the possibility of granting a loan to an MSME registered business is way higher than any other businesses. Individuals with SSI Registration Delhi also benefits from special schemes that are exclusive for MSME registered entities.

Let’s look at some of the benefits:-

• Bank loans are sanctioned easily and with the subsidy.
• They get tax rebates.
• They get an easy access to credits
• Excise exemption scheme.
• Getting power tariff subsidies.
• Subsidies for capital investment.
• Preference to them for tenders.
• Access to mudra loan schemes.

What is validity time period of MSME Registration certificate?

There exist two kinds of MSME Registration certificates. One is the initial where the provisional registration certificate will be issued which remains valid for 5 years after which you can proceed with the commencement of operations and obtain a permanent MSME Registration certificate.
Are you looking for any sort of legal online help then our professionals at Swarit Advisors can help you on every possible ways to guide you all the way. Feel free to contact us we will be glad to help you.

Original Source: http://swaritadvisors.strikingly.com/blog/what-is-msme-registration-in-india

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What is Residential Rental Agreement?

Characteristics Of Residential Rental Agreement

Are you leasing property first time and you may be requiring a residential rental agreement? You might be befuddled and uncertain as what documents are required to get it done. You must be thinking of how to approach finding the correct contract for your requirements. There is not one single rental contract, these agreements are about as one of a kind they are associated with the properties. It is can be a confusing state to decide which contract you must choose and many people falls into the trap of utilizing any rental agreement, since they have numerous basic elements similar, but this can be a major mistake that you had pay for dearly later.

It is essential that you invest some time perusing the residential rental agreement that you will use before you pick one. It is sometimes essential that you check with your state laws, there are numerous states that require a few things to be listed in this agreement. You couldn't just disregard the laws of your state, as you could be placing yourself in an awful position ought or any sort of disputes later. Our experts at Swarit enterprise can help you with a detailed explanation of what to choose and why to choose that particular residential rental agreement which relates to your property.

Essential elements of residential rental agreement

Every single residential rental agreement begins with a similar basic data, and the information will incorporate the contact data for both the parties. The information regarding the location, amount of the rent, duration of the rent and when rent is due is all included in the agreement. Length of the term of lease is also listed here in the residential rental agreement usually for one year.
Every residential rental agreement is different but apart from the general information two sections are there. One section deals with the terms and conditions of the rental agreement whereas on the other section, the rights and responsibilities for both the parties i.e. landlord and tenant is mentioned. The section of terms and conditions may include everything such as pets are allowed or not, whether tenant has the right to access all the property of landlord or not and much more like repairing, painting etc. And in the section of rights and responsibilities there are things such as notice you must give, right of access, termination of the lease, damage to the property, etc such details are covered in this section.

Who are tenant & Landlord?

An individual who pay for the rent of particular premises is termed as tenant whereas an individual who owns the property and is entitled to receive the amount of the rent is termed as the landlord.

Residential Rental Agreement in India is a deep rooted old practice in our society which has continued for long time without any defined laws. Unpleasant encounters of both the parties and long pending disputes brought an acknowledgment that substantive laws are required to supervise the Tenancy and to control & guide the decisions of Courts in case of any dispute occurs between them. The Residential Rental Agreement is a lawfully enforceable understanding between a Landlord and a Tenant for their better relationship in regard of leased premises, which states the terms and conditions of the tenure and the points of interest of the parties and premises.

Original Source: https://articles.abilogic.com/286046/what-residential-rental-agreement.html

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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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