Why Do We Need To Apply For Company Registration In India

When you own a business its better get a company registration.For being eligible for company registration, your start-up must fulfill basic requirements under the Companies act 2013. Company registration process can be easily completed in just 5 simple steps. Following is it’s summery.

Follow 5 Simple Steps for Company Registration in India.

1. Start by arranging basic documents of directors of your company and apply for DSC.
2. You have a choice to reserve a unique name for your company through RUN service available on MCA portal.
3. Now prepare the memorandum of association and article of association along with other documents.
4. Now next will be filing SPICe Form along with incorporation documents with ROC.
5. After considering the application, ROC will company’s COI.

Why Get a Company Registration for Your Company?

You might wonder at times why get company registration done? Why register start-ups as a company? But it has its advantages and benefits along with mandatory requirements in some cases. The benefits are listed below: –

Separate Legal Identity

In case of the regular or general partnerships, the personal possessions like the savings and the properties of the partners would be at risk. Like when a business is incapable of making their payments for the loans they took. But in case of a registered company only the investments in the business is lost the personal possessions of the directors remain completely safe.

Funds and loans can be raised easily

After the online company registration procedure, the company will enjoy a wide variety of options for raising funds through the bank loans, the angel investors and venture capitalists in comparison with the regular or a normal partnership.

The favorite business structure for the investors.

Most investors usually love to make an investment in a private limited company, so when you have a company registration, you will surely get these benefits. A company is usually well structured and has usually less of the strings attached. And the most important thing to mention here is that it’s very easy to exit from a private limited company when you wish.

It’s Easy to Attract Quality Team with a Company Registration.

For any of the start-ups, tobuild a team and retaining them for a long time is a challenge in itself and due to confidence attached with the company structure, it’s rather easy to hire key employees as well as to motivate them with corporate designations and the stock options.

Easy to Sell

A registered company is easy to sell.as regular compliances ensure minimal documentation requirement and less costing for sale of the private limited company.

Minimum Requirements for Company Registration

• Minimum of 2 shareholders
• Minimum of 2 Directors
• OPC should be minimum 1 shareholder and one that’s been the nominee for the director and shareholder.

Hope it brings in some clarity for company registration, in case of further queries reach experts at Swarit Advisors we can provide reliable support and help anytime when you require. Get your registration done in a hassle-free way. Our professionals have years of experience in handling the queries and issues occurring while applying to the online registration process. Rest assure us we will help you with the best solution.

Source url: https://swaritadvisorsindia.wordpress.com/2018/06/28/why-do-we-need-to-apply-for-company-registration-in-india/

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How To Apply For NGO Registration In India?

NGO is a short abbreviation for the term “non-government organization” this organization works for the charitable purposes without having any intention of gaining any financial profits.

The NGO Registration is done under the following acts:-

• Indian trusts act 1882 for the formation of a trust.
• The society’s registration act of 1860 for the formation of societies.
• The companies act 2013 under the section – 8.

Now in this article, we will explain how you can apply for online NGO Registration in India under the Company’s Act.

Let’s get why go should go for NGO Registration?

In our nation’s society, many people do different kinds of social work and they also do other activities at their own level. Mostly in these situations,there is never a need for any registration. However, when someone wants to willingly work in a non-government organization then they will voluntarily service with no responsibility of any resource. The certain social workers or the volunteers will usually plan on forming an organization and then eventually get NGO Registration legally. In the beginning, we could try and operate and organize the program on our own but we have formed a team and then a group. Once that is established it will be easy to carry out the work. Now below are some of the points why you will need a NGO Registration of an organization even though you are capable of running it all on your own level.

• Whenever there’s a team of a group of individuals trying to raise funds by getting donations then it’s mandatory for the account to get a certain legal status for the organization. And hence, here the requirement for an NGO Registration arise.
• Once your NGO Registration is done, your sources and your assets can easily receive right in the name of the NGO Registration while if not registered it’ll only be getting resources from the individuals and that may be lacking.
• There will be some ethical as well as legal and social regulations are required to be followed in case you are going to work as an organization or a group.
• This NGO Registration shall then decide the status of the organization and it is fairly easy to get any help from a registered authority, the relevant departments, technical support and lot more.
• By applying for an NGO Registration doesn’t make it a big deal however it will matter under which law and act you register it under. Its aims and objectives will matter the most in order to run a profitable business yet a non-profitable organization and also with almost the same procedure for managing with certain related obligations. Once you have established your non-government organization or the trust, it becomes necessary for maintaining the detailed transparent records of all your social activities.

Documents required for getting an NGO Registration

• A DSC which is a digital signature certificate that you will have to issue from the government recognized agencies for certifying. You get either a class two or a class three digital signature Certificate.
• Another thing is the DIN which is director identification number which you will have to apply for your respective directors. This application for the DIN has to be done via form DIR – 3 along with which you are to attach scanned copies of related necessary documents like self-attested copy of PAN, ID proof of directors, their address proof attested by a professional like a practicing company secretary or a charted accountant.

And submit it all online on the MCA portal. In case, if you are having trouble following the procedure, then you may talk to our specialists by contacting at our number of Swarit Advisors anytime whenever you wish.

Source url: http://swarit-advisors.sitey.me/blog/how-to-apply-for-ngo-registration-in-india

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Avail The MSME Registration Benefits By Applying It Online

In today’s article, I will guide you through the benefits of MSME Registration in India. These micro small medium enterprises are just growing day by day and is an essential part of the growth in the economy of our country. Which is why the government favours and supports these micro small medium enterprises.

Let’s look at the laws and government involvement with MSME Registration

The Indian government has given out various subsidies as well as schemes and incentives for the promotion of the micro, small, medium enterprises through the MSMED act. Now to avail the benefits you must get MSME registration procedure in India done under the MSMED Act. This MSMED act provides with benefits that we’ll now discuss below.

The government will give preference to MSME registered enterprises through their policy of public procurement for the micro small medium enterprises order of 2012. It provides that all the central government ministries, their departments and public sectors with undertaking shall produce a minimum of 20% of their total value of goods annually from the micro small medium enterprises. This has become mandatory since the April 1st of 2015. As per this policy, the MSMEs that have their MSME Registration with the district industries centre or the Khadi Gramudyog like village industries commission are provided with certain benefits. The release date for the ease in MSME registration was February 18th 2016. The ministry now has started this "Udyog Aadhaar" memorandum which is an online registration system and all the MSME Registered shall be provided with the benefits under the procurement policy.

Another thing is the protection against the delay in the payment from the buyers, the MSMED act will provide you with the protection from unnecessarily delayed payments. This is specifically provided where the MSME is supplying the goods or is rendering any certain services to a certain buyer of their goods or services then that buyer is to make the payment on or before the agreed date. This period may exceed up to45 days of acceptance. In case, if the buyer fails to pay then he will be liable to pay a compound interest to the MSME owner that too with monthly interests on the amount from that date which falls after the due date. This is 3 times the bank rate which is notified by the reserve bank of India.

One more benefit is the time-bound resolution of disputes with their buyers. This is through the conciliation and the arbitration. Under the MSMED act, the government provides you with a benefit in case there’s any dispute regarding the non-payment of the dues by the buyer then the MSME could refer to the dispute MSME facilitation council. This council shall conduct conciliation in the matter and in case it doesn’t end up with any fruitful results, the dispute is directly terminated without any settlements.

When working with agencies to get MSME Registration?

When working with these professional agencies to get MSME Registration, make it clear about privacy policy. Make sure that to you they provide all the information about they will use your personal information in the process of creating an application for MSME Registration. It’s important your provider be transparent with you about what information they collect and how they do with it, with whom they intend to share with and who you are supposed to contact in case they misuse it. Make sure they comply with all the applicable data protection laws and the regulations in India.
But if you are looking forward for expert consultation then you may get in touch with us at Swarit Advisors we can help you with best solutions and guidance all the way in any of the legal online services. You can reach us anytime we are the leading online legal service providers.

Source url: https://medium.com/@swaritadvisors18/avail-the-msme-registration-benefits-by-applying-it-online-e8c2199d3231

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How Private Limited Company Registration Can Be Beneficial To Us?

In this article, we’ll discuss what a private limited company registration in India is? And what are the advantages of having one, once we are done with our private limited company registration.

A private limited company is one of the most commonly used entities that is suitable for carrying on a certain type of business on a certain scale level. In India, it’s a long-term objective. Now when you think about having one for yourself, you will need a private limited company registration done in order to keep going with the idea. The private limited company registration is done and incorporated under the company’s act 2013. The formation of a private limited company is formed as a purely separate and legal entity that is apart from its directors or the members. Any business which is under this type of structure is done by making an investment. This investment is made through the equity shares in the company. This has its own advantages of limited liability, of greater stability and the recognition. The very basic requirement for the incorporation of this private limited company in India is to have a minimum of two directors and two shareholders, both can be same.

Know the Advantages of a Private Limited Company in India

· LIMITED LIABILITY: In case, if the company is experiencing financial distress of any kind because of their normal business activities. Then, the personal assets of the company’s shareholders and directors will not be at risk of being seized by the creditors.

· SEPARATE LEGAL ENTITY: Any private limited company is a legal entity, and juristic person that is established under the companies’ act 2013. Therefore, this private limited company after being registered is has its own legal capacity to own its own properties as well as incur debts. And on the top of that the respective directors and the shareholders will not have any liability to the creators of this private limited company for any such debts.

· CONTINUITY OF EXISTENCE: The existence of a private limited company will never be affected by its owners. The owners may come or go with time but the company will keep running until and unless it is legally dissolved, because it is a separate entity or a person, it remains unaffected by any deaths or the departures of any of its members and continues to exist irrespective of the change in its memberships.

· MINIMUM NUMBER OF SHAREHOLDERS: The minimum number of the shareholders required to get a private limited company registration in India is just two in numbers.

· SCOPE OF EXPANSION IS HIGHER: A private limited company registration will give the various options for the borrowing of the funds. It can raise funds also by issuing shares or debentures and similar.

· EASY TRANSFER ABILITY OF OWNERSHIP: The shares of the private limited company by virtue of its ownership can easily be transferred to any other person by simply filing and signing a simple share transfer form. The price exchange may be anything they wish and will happen with a mutual agreement between the both parties. The infused capital can be easily taken back.

· OWNING PROPERTY: Because after the private limited company registration, it is considered a legal entity and a person on its own can own properties in its name also. No shareholders or the directors can claim it as their own property.

If you have any plans to apply for a private limited company registration in India then make a call to our Swarit Advisors, we can help you with proper guidance and step by step procedures. All you have to do is to make a call on our number or drop us an email.

Original Source: https://medium.com/@swaritadvisors18/how-private-limited-company-registration-can-be-beneficial-to-us-912ea3e486a0

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What Is An NBFC? And Why Do We Apply For An NBFC Registration?

NBFC stands for a non-banking financial company. The NBFC Registration is done under the companies act. A non-banking financial company is very much similar to a commercial bank, except for the following differences, have a look at them that are as follows: -

1) A non-banking financial company can’t accept any demand deposits.

2) A non-banking financial company can’t issue cheque that is drawn to itself.

3) The deposits in NBFC are not insured as they are insured in a bank by the deposit insurance and Credit Guarantee Corporation.

The non-banking financial companies just like commercial banks, but only except for the above-mentioned differences do engage in banking businesses like making of loans and advances or acquisition and trading of the shares and stocks or bonds and debentures/securities. Also leasing and hire purchase and insurance businesses or chit businesses. An NBFC can do all of this except it will not include any particular institution that has a principal business of agriculture activity or any industrial activity. It doesn’t also include purchase or sale of any kind of goods (other than the securities or providing any type of service and sale or purchase or construction of immovable property.

Also, a particular company that has a principal business of getting deposits under any type of scheme or an arrangement in one lump of a sum of an instalment by the way of their contributors or in any other way is also a non-banking financial company.

What are the categories of the non-banking financial company?

There are two types of NBFC Registration. One is deposit taking and other is non-deposit taking. Both are being further classified based on their size.

Getting to the NBFC Registration

Now as per the section 45 — IA of the reserve bank of India act of 1934, no company is supposed to commence any business of a non-banking financial company without obtaining the NBFC Registration certificate. Also, you must have a minimum of net owned funds of Rs 200 lakhs. This incorporation of the NBFC Registration is incorporated under the section 3 of the companies’ act of 1956. The net owned funds are the final balance of owned funds minus the amount of investments in shares of the subsidiary. This includes the companies in the same group and all the other non-banking financial companies, the book value of debentures, hire purchases, outstanding loans, lease finance made and deposit with a subsidiary. All these commence in the same group.

The owned funds are an aggregate of the paid-up part of equity capital, preference shares which are also compulsory and convertible into the equity, the free reserves and balance in shares premium account and the capital reserves that represent the surplus that’s arising out of the scale proceeding to the asset which excludes the reserves created by revaluation of the asset, after the deduction of accumulated balance of loss.

Application for NBFC Registration

Application for the NBFC Registration must be made to the regional office of the RBI with a list of documents that are required to be submitted. Though financial companies are not regulated by the RBI, it supervises the companies with financial assets more than 50% of its total assets.

Swarit Advisors can help you to apply for online NBFC Registration in India. We provide best online legal services to our customers in every possible means. Our motive is to offer reliable and profound solutions to our customers whenever they need to. So get in touch with our specialists, we will help you to prepare your documents and make you apply for NBFC Registration without any hassle.

Source url: http://swaritadvisors.over-blog.com/2018/06/what-is-an-nbfc-and-why-do-we-apply-for-an-nbfc-registration.html

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Know The Process To Apply For FSSAI Registration Online

When you own a food operating business you must first go through FSSAI Registration process. Food business operators can easily apply online for FSSAI registration online.
This article has some tips on how to right below:-

• You may start by visiting the official government website made available by the government for FSSAI Registration. Visit it and sign up for an application form online for your food Business.
• A form will open where you will have to provide with your details that are asked. Details like your contact number, e-mail id, and other contact information. The mobile number and the email address you provide must be valid and active.
• Next, you create a username for yourself. Better create one that you can memorize and will not easily forget as you will need it many times afterward.
• After you are done with this you’ll get a notification SMS for the successful creation of your account. Make sure you get all your contact details verified to keep the communication going and awareness.
• You must keep in mind one thing that your username identity will be used for only 30 days, after passing of 30 days your id will be disabled.
• Now that you are done with the online registration of the account just visit the official site again and log in by entering your username id and created password.
• Now fill in the required information in a provided online application form for the FSSAI Registration Delhi. It will take just a few minutes to fill in this form, to save more of your valuable time, simply make sure you have all your documents ready and prepared as you’ll be filling those in the form.
• Once you are done with the filling, make sure you print it out as well as a hard copy of your FSSAI Registration application form. After that, you can click on submit button and submit your form.
• Once you have submitted your form successfully, you’ll get a reference number you just then keep this reference number for future references like updates and status of your application.
• Though the internet and the website are functional and open 24/7 days you got to still complete the whole form in one sitting only.
• Submit your hard copy of your form to the regional state authorities with whatever documents may be required. This you need to do within the time span of 15 days from the date of submission of the FSSAI Registration application online.

Let’s take a look at the list of documents you will need for FSSAI Registration below:-

• Your photo ID which is issued by the government authority.
• Proof of residential address on a legal document like driving license or a voter identity card Aadhaar card etc.
• The photo of food business operator or FBO.
• The list of all the directors of the respective institution or organization dealing with food business that you are getting FSSAI Registration for.
• The proof of the possession of the premises where you’ll do the work.
• The partnership deed document if any or the affidavit of the proprietorship in case you work individually.
• Memorandum of association and article of association.
• No objection certificate and a copy of the license firm manufacture.
• The declaration form.
• And the list of all the food products you intend to sell
• Blue Print of processing unit & Equipment/Machinery.

In case, if you are having any trouble in applying for FSSAI Registration then let us know by dropping an email on our Swarit Advisors website. We will be glad to offer relevant help to apply for any online legal services to our customers. Our experts provide the complete guide so that you can avoid the possible mistakes happening in the FSSAI Registration process.

Original Source: https://medium.com/@swaritadvisors18/know-the-process-to-apply-for-fssai-registration-online-5d522d4e4b39

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How to Register Producer Company in India?

A producer company includes a group of people that are involved with the production of produce primarily or other one or more objectives relating to the primary production. The Part IX – A of companies (amendment) act of 2002, deals with the Indian producer company. The primary reason for introducing such a concept was to frame the legislation that permits the incorporation of cooperatives as a company. The Indian producer company is an incorporated body that has it’s certain activities and/or objectives under the section 581B.

Provisions relating to Incorporation of Producer Company?

1. An applicant: - Ten or more people being the producer, two or more of the producer institutions, or the combination of any of the previously mentioned.
2. MOA and AOA of the producer company:- The above mentioned documents must be signed by each of the producer with a date. Along with it all other required documents under incorporation rules must also be prepared.

3. Object of the producer company registration online document:- The objective clause in the memorandum of association must specify all of the matters that are specified under the section 58 1B.

4. Appointing the first directors: - The AOA of the company would mention it’s first directors. These directors of the producer company will hold the office till the final directors are appointed for the producer company in question. This is to be done within the time period of 90 days of the company registration application. The minimum number of directors being five to the maximum being 50.

What is the procedure of filing for producer company application?

• Filing of the producer company’s name: -File for the application via RUN with a fees of? 1000/-. Then select a name for your producer company that will suit best for your company’s produce. Once the ROC confirms with the availability of the name you’ve chosen, a Memorandum of association and AOA of the respective company is drafted according to the regulations of the section 58 1F and section 58 1G.
• MOA and AOA that are duly signed and stamped with a date.
• Their power of attorney.
• Statutory declaration on stamp paper by a professional in Form INC-8. That is declaring compliance of all the identical matters regarding the producer company formation.
• File application for registration in Spice any pay stamp duty electronically via the MCA portal..
• Pay producer company registration fees.

If you are facing any trouble in getting your Producer Company Registration done then make a call at our Swarit Advisors, where our professionals will give you complete guide to follow the steps precisely and help you to get the hassle-free services. 

Original Source: https://articles.abilogic.com/286828/how-register-producer-company-india.html

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