Introduction: India has a long history of companies in our country. Profits made by non-profit organisations are used to improve and grow society. Furthermore, under Section 8(4)(ii) of the Companies Act, 2013, a Section 8 company can be converted into any other type of company. The Companies (Incorporation) Rules, 2014 Read more
Introduction: Every financial institution requires assets and liabilities for its smooth functioning. Business requires capital for everyday transactions. A business requires a lot of financial inputs to run and stand out in the market efficiently. The company should try to build up assets more than the liabilities to curb maximum Read more
Introduction: Intellectual Property Law in India has evolved in numerous ways possible by incorporating different methods to facilitate and protect the rights of Intellectual Property owners. The pandemic has slowed down these trends with having to push back the dates, deadlines, etc. Intellectual Property Law in simple terms means, a Read more
Introduction: KYC is an abbreviation for ‘Know Your Customer’, this form is a part of the process of identification carried out by banks, insurance companies and other financial institutions before getting into business with people. This process involves the submission of various personal identification documents like PAN/Aadhar along with address Read more
Introduction: Forfeiture of shares alludes to the circumstance where the distribution of shares is dropped for the investors because of the non-payment of instalment of any portions. As opposed to that, surrender of shares happens when investors return the shares to the company for crossing out. Surrender of shares is Read more
Introduction: Step up under the Ministry of Health and Family Welfare, Government of India, the FSSAI, or the Food Safety and Standards Authority is an autonomous body established under the Food Safety and Standards Act of 2006. The FSSAI is answerable for advancing and securing general wellbeing by carrying out Read more
Introduction to NCLT & NCLAT: The Central Government has established National Company Law Tribunal (NCLT) under Section 408 of the Companies Act, 2013 (18 of 2013) w.e.f. 01st June 2016. In the primary stage the Ministry of Corporate Affairs have set up eleven Benches, one Principal Bench at New Delhi Read more
Introduction: Section 8 company is a company which is established under Section 8 of the Indian Companies Act,2013(Section 25 of the Indian Companies Act,1956) with the main objective of- Promoting commerce, art, science, sports, education, research, social welfare, religion, charity, protection of the environment, or any such other object[1] Wherein Read more
Introduction: Any company be it public, private a start-up or a proprietorship ( one-man company) is governed by a certain set of people. These person(s) are responsible for administration, day to day functioning, financial management, human resources and growth of the company. Also, they are the legal representatives of the Read more
Introduction: When a company needs to generate more capital or wants to take a loan but not from a bank or without any liability, it decides to divide its ownership in the general public by giving people a share or apart in the company’s ownership. Thus, people buy these small Read more
Introduction: There are different forms of companies to conduct business in Indian society. One of them is a “one-person company” which is the newest form of company in India. This company consists of only one member for its incorporation[1]. This is a new opportunity to conduct business. In India, there Read more
Introduction: Professional Tax is a direct tax in India. It is a levy and collected by the state government in India. There are state-wise variations in rates and procedures of collecting professional tax but not all states impose the professional tax. Some states which impose professional tax are Punjab, Karnataka, Read more