Author: Fastlegal Team

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How to Appoint or Add New Director in Private Limited Company

Posted on by Fastlegal Team
Foreign Subsidiary Company

In Private Limited Company Directors plays main role in its functioning, Directors takes day to day decisions for business operations, Directors are key person in whom Shareholders of company trusts for their money invested, here in this article we will discuss about how a company can have new Director on its Board legally in India :

Obtain Consent of Proposed Director: 

Proposed Director Should give his consent to act as Director in the Company as per Form DIR-2 , this is very important document and company must obtain form DIR-2 form before proposing him Director of the Company. 

Digital Signature of Proposed Director :

If proposed Director does not have Digital Signature , he must obtain Digital Signature from Certifying Authority in India.

Obtain Director Identification Number (DIN): 

If the proposed Director does not have DIN , he should let the company know that he does not have ,and than the Company in which he is about to be appointed as Director is required to pass Board Resolution for proposing him to be Appointed as Director of the Company , the company should apply for DIN no of the proposed person. The Resolution is required to be attached with Form DIR 3.  ( This is new requirement for obtaining DIN , as new person cannot just apply for DIN if he is not to be appointed as Director in any Company. DIN is only allotted once for lifetime of Director.  

The Company should obtain all KYC documents along with necessary educational Qualification documents required as per terms of job, it is important to note that there is no minimum education qualification required to hold position of Director in the Company in India 

Board Resolution for Proposing Director for Allotment of Director Identification Number (DIN) in Company


Issue of Notice of General Meeting: 

The Director in the Company are appointed in the General Meeting , the Company should issue notice to all the Shareholders of the Company for holding Extra Ordinary General Meeting of the Company, Please note that Notice of General Meeting should be issued in accordance with provisions of Companies Act, 2013 and rules made there under and Secretarial Standards issued by Institute of Company Secretaries of India (ICSI).


Hold Extra Ordinary General Meeting of the Company : 

Once the Notice of EGM is issued to the shareholders , now on the meeting date and time , hold the meeting and Pass the Necessary Resolution for Appointment of Director as Company. 

Issue Letter of Appointment 

Now issue letter of appointment to the Director of the Company mentioning terms and conditions of appointment and salary to be payable to the Director.

File form DIR-12 to ROC

Once all the above steps are completed the Company should file Form DIR-12 to ROC within 30 days form the date of appointment of Director , It is always advisable to File the Form DIR-12 within next day of appointment, so as to avoid late filing and Additional Fee.


Making Necessary entries in Register of Directors 

Company should make necessary entries in the Register of Director and Key Managerial Personals

File Necessary Amendment Application to GST, Tax Authorities  Other regulators 

The Company is required to make necessary application for Changes in Directors details in GSTN and Other Certificates, wherever applicable. 

Book On Company Law Procedures

Need for Director Appointment Services? Email us at mail@fastlegal.in or Place your request here 

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CSR Activities which may be Included by Companies in their Corporate Social Responsibility Policy

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Companies that are required to spent CSR funds, can only undertake CSR activities as mentioned in Schedule VII of the Companies Act 2013, Companies Can Undertake the CSR Activities through Non-Profit Organisation’s Registered with Ministry of Corporate Affairs having CSR Registration Number

CSR ACTIVITIES

List of CSR Activities:

  1. Eradicating hunger, poverty, and malnutrition, promoting health care including preventive health care and sanitation including contribution to the swach Bharat Kosh set-up by the Central Government for the promotion of sanitation and making available safe drinking water;
  2. Promotion of education including special education and employment enhancing vocation skills especially among children, women, elderly, and the differently-abled and livelihood enhancement projects;
  3. Promoting gender equality, empowering women, setting up homes and hostels for women and orphans; setting up old age homes, daycare centers and such other facilities for senior citizens and measures for reducing inequalities faced by socially and economically backward groups;
  4. Ensuring environmental sustainability, ecological balance, protection of flora and fauna, animal welfare, agroforestry, conservation of natural resources and maintaining the quality of soil, air, and water[4] including contribution to clean Ganga Fund set-up by Central Government for rejuvenation of river Ganga;
  5. Protection of national heritage, art, and culture including restoration of buildings and sites of historical importance and works of art; setting up public libraries; promotion and development of traditional arts and handicrafts;
  6. Measures for the benefit of armed forces veterans, war widows and their dependents Central Armed Police Forces (CAPF) and Central Para Military Forces (CPMF) veterans, and their dependents including widows [5] ;
  7. Training to promote rural sports, nationally recognized sports, Paralympic sports, and Olympic sports;
  8. Contribution to the Prime Minister’s National Relief Fund or Prime Minister’s Citizen Assitance and Relief in Emergency situations Fund (PM CARES Fund) or any other fund set up by the Central Government for socio-economic development and relief and welfare of the Scheduled Castes, the Scheduled Tribes, other backward classes, minorities, and women;
  9. Contribution to incubators funded by Central Government or State Government or any agency or Public Sector Undertaking of Central Government or State Government, and contributions to public-funded Universities, Indian Institute of Technology (IITs), National Laboratories and Autonomous Bodies (established under the auspices of Indian Council of Agricultural Research (ICAR), Indian Council of Medical Research (ICMR), Council of Scientific and Industrial Research (CSIR), Department of Atomic Energy (DAE), Defence Research and Development Organisation (DRDO), Department of Biotechnology, Department of Science and Technology (DST), Ministry of Electronics and Information Technology) engaged in conducting research in science, technology, engineering and medicine aimed at promoting Sustainable Development Goals (SDGs);”
  10. Rural development projects.
  11. Slum area development
  12. Disaster management, including relief, rehabilitation, and reconstruction activities. Explanation.- For the purposes of this item, the term ‘slum area’ shall mean any area declared as such by the Central Government or any State Government or any other competent authority under any law for the time being in force.
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CSR Activities which may be Included by Companies in their Corporate Social Responsibility Policy 1
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Main requirements for Trademark Registration

Posted on by Fastlegal Team

In this article we will discuss the main requirements for trademark registration in India, Trademark Registration is very important part of brand building and creating intellectual assets for any business, Trademark registration process is now fully online procedure and can be done online by applicant himself or through his attorney or agent Authorized by him.

Main requirements for Trademark Registration

Following are the main requirements of filing of Trademark Application :

Public Search of Trademark (Main requirements for Trademark Registration)

Public search of trademark enables applicant to know the existing mark that are identical or similar to any previously used mark , this helps us to know that we should opt for particular trademark or not , Public search of Trademark can be done online via public search of Trademark link.

Public search of trademark is required to be done carefully, unproperly public search of trademark may lead you in serious trouble and your trademark process may takes years to complete or you may have to leave the mark in vain.

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Date of Use of Trademark (Main requirements for Trademark Registration)

Date of Use of Trademark is also most important thing we must take seriously , Date of use makes lot of sense in Trademark registration and help you stand out from others with prior user tag, Applicant of Trademark must ensure that he should have proper evidence for establishment of date of use , Evidence may be any sales bill, Spending on Advertisement etc.

In the trademark registration process applicant must submit affidavit that he is using the mark from the particular date.

Goods and Services Description in Trademark Registration

Goods and Services Description in Trademark is another important thing we must consider seriously, goods and services description helps you to get trademark for the particular product and services, in Trademark there are Forty five (45) classes in total for different goods and services description, we need to carefully decide that in which class our trademark is falling and we should apply accordingly.

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Status of Proprietor of trademark in Trademark Registration Application

The Fee Structure of Trademark is based on the legal structure of business of Proprietor , for Single Firm, MSME and Startups fee for Trademark Application of Rs. 4500 and other Rs. 9000 per class, so the applicant of mark is MSME or startup, he should accordingly.

Law of Trademark in India

Laws of Trademark in India

Trademark Laws

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Fastlegal provides Trademark Application and Registration Services , for any help submit your request in below form

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Top Fundraising Platforms for NGO’s in India

Posted on by Fastlegal Team

In this article, we will discuss top Fundraising Platforms for NGO’s through which NGO’s can get donations by running different campaigns, India being the most populous country and the gap between rich and poor is so high and people are in need of help to sustain their life, upgrading the skills of poor and so much.

There are many people who want to help others and are helping to serve the community to live better lives, helping the people with the help of other peoples makes things bigger and many needy get benefited, for which other people donate funds to non-profit organizations. Making contributions to many such non Profit organizations are eligible for Income Tax Exemptions as well.

In Today’s digital world, the world is open to everyone through the internet and Non-Profit Organisation’s to benefit from this by collecting funds in the form of donations by running campaigns on Online Crowdfunding platforms.

Here we will discuss about the top Fund raising platforms on which NGO’s can raise funds to achive there objectives :

Milaap (https://milaap.org/)

Fundraising Platforms for NGO's

Milaap is an online crowdfunding platform that enables anyone across India to raise funds for healthcare, education, sports, disaster relief, and other personal causes, with great ease. Founded in 2010 by a team of young and passionate entrepreneurs, Milaap has pioneered the development of person-to-person giving in India.

What started as a platform to fund rural projects and micro-entrepreneurs, is today widely utilized by Indians to raise funds from friends, family and a wider social network for medical needs, loved ones and charity. Milaap is soon becoming the go-to platform for funding cancer treatment, transplants and other critical emergencies.

NGO Registration

Impactguru (https://www.impactguru.com/)

Top Fundraising Platforms for NGO's in India 3

Impactguru is another great platform that provides complete crowdfunding solutions to empower individuals, NGOs and social enterprises to raise funds for medical emergencies, personal needs, creative projects or any social cause – be it big or small. We aim to bring together generosity with need to maximise people’s potential to do good.

Ketto ( https://www.ketto.org/)

Top Fundraising Platforms for NGO's in India 4

Ketto is another great Platform for Non Profit Origination to start campaigns for Free, on ketto you can raise funds for different causes like :

Fueladream (https://www.fueladream.com/)

Top Fundraising Platforms for NGO's in India 5

Fueladream is crowdfunding platform that is committed to radically changing the lives of 2.2 Bn people in India and Africa . We operate in the donation and rewards space and are building a marketplace for Ideas & Causes that will dramatically alter how we fund what is important to all of us.

NGO Registration

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How to Register your NGO in India

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Stamp Duty on Affidavit in Rajasthan

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How much stamp duty on affdavit is required to be paid in Rajasthan

Rs. 50 stamp duty is required to be paid on affidavit.

Registration fee for Affidavit

Rs. 200 is a registration fee for document registration of Affidavit with the Sub-registrar office in Rajasthan, However, registration of affidavit is not compulsory and is optional at the option of party to the affidavit.

Source: IGRS

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How to Register Partnership Firm in Rajasthan

Posted on by Fastlegal Team

Partnership Firm registration in Rajasthan is required where two or more persons are carrying on business in partnership, a Partnership firm is a traditional and most used form of business structure.

In India, a Partnership firm is governed by the Indian Partnership Act, 1932. A partnership is defined as per section 4 of the Indian Partnership Act 1932 is as the relation between persons who have agreed to share profits of the business carried on by all or any of them acting for all.

Information required for Partnership firm registration in Rajasthan

  1. Name of Firm
  2. Name, Address, Age, PAN, Aadhar Card Copy of Partners
  3. Capital Contribution
  4. Profit-Sharing Ratio Among Partners
  5. Whether bank A/c be operated by all partners jointly or severally
  6. Whether all bonds, bills, notes, bills of exchange, hundies or promissory notes or other securities are given on behalf of the partnership (except cheques) shall be signed, endorsed, accepted or executed jointly or severally

Documents required for partnership firm registration in Rajasthan

  1. Partnership Deed.
  2. ID & Address proof of all Partners. (Copy of Passport/PAN/Voter ID/Driving License/Aadhaar Card)
  3. Two Photographs of all Partners.
  4. Ownership Proof eg. Electricity bill/ water bill/Property receipts, POA, sale deed etc. in the name of the applicant in case it is self own or Rent agreement and copy of ownership proof in the name of Land Lord accompanied by NOC, in case it is rented
  • partnership firm registration in rajasthan

What is Partnership Deed

A partnership deed is a written agreement among partners of the firm , partnership deed mentions all the terms and conditions regarding the business of partnership firm, all the business activities are carried on basis of written terms mentioned in partnership deed

Important points in partnership deed :

  1. Name of Firm
  2. Address of Firm
  3. Business of Firm
  4. Partners of firm
  5. Capital Contribution among partners of the firm
  6. Profit-sharing ratio
  7. Bank Account operation
  8. remuneration of Partners
  9. Limit of Remuneration as per income tax act
  10. duration of firm
  11. Admission of a new partner infirm
  12. Retirement of a partner from a firm
  13. Dissolution of Firm

How to Apply for Online Partnership firm Registration in Rajasthan

  1. Place your request at below form
  2. Our Team Member will contact you
  3. Submit required information and documents
  4. Pay professional fee
  5. We will submit the documents and information with Registrar of firm
  6. We will apply for PAN card of Firm
  7. Open Bank Account of Partnership firm
  8. Start your business as Partnership Firm in Rajasthan

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LLP may soon have Reduced Additional Fee , MCA initiates process of De-criminalisation of compoundable offences under Limited Liability Act, 2008

Posted on by Fastlegal Team

With the object of unleashing the entrepreneurial spirits of our youth and to remove the fear of criminal prosecutions for non- substantive minor and procedural omissions and commissions in the normal course of their business transactions, the Government of India in the Ministry of Corporate Affairs (MCA) decided to initiate the process of decriminalization of compoundable offences under the limited liability partnership (LLP) Act, 2008, for greater ease of doing business for law abiding LLPs.

The Government treats Honest and Ethical Corporate entrepreneurs as wealth creators and nation builders. The objective of the De-criminalization exercise is to remove criminality of offences from business laws where no malafide intentions are involved. In furtherance of the said objective, an exercise was undertaken to identify those provisions of the Limited Liability Partnership Act, violations of which do not result in injury to public interest but are presently criminal in nature with fine as well as punishment after conviction being provided for in the Act.

Principles adopted for Decriminalization of Compoundable Offences:

  1. Principle 1: Offences that relate to minor/ less serious compliance issues, involving predominantly objective determinations, are proposed to be shifted to the In-house Adjudication Mechanism (IAM) framework instead of being treated as criminal offences.
  1. Principle 2: Offences that are more appropriate to be dealt with under other laws, are proposed to be omitted from the LLP Act, 2008.
  1. Principle 3: For non-Compoundable offences that are very serious violations entailing an element of fraud, intent to deceive and caused injury to public interest or non- compliance of order of statutory authorities impinging on effective regulation, Status Quo would be maintained.

In all, twelve (12) offences are proposed to be decriminalized and one (1) provision (Section 73) entailing criminal liability is proposed to be omitted. The 12 de-criminalized offences would then get shifted to IAM thereby de-clogging the criminal courts from routine cases.

In addition to the De-criminalization of the Act the Government also proposes Introduction of certain new concepts into the Act for greater Ease of Doing Business:

  1. Small LLP: It is proposed to create a class of LLP called as “Small LLP” in line with the concept of Small Companies. Such Small LLPs would be subject to lesser compliances, lesser fee or additional fee and lesser penalties in the event of default. Thus, lower cost of compliance would incentivize unincorporated micro and small partnerships to convert into the organized structure of an LLP and derive its benefits.
  1. Non-convertible Debentures (NCDs):  It is proposed to allow LLPs to raise capital through issue of fully secured Non-Convertible Debentures (NCDs) (as an alternative to equity participation) from investors who are regulated by SEBI or RBI. This will help deepen the Debt Market and enhance the capitalization of LLPs.

Reduction of Additional Fee: It is also proposed to amend Section 69 of the Act with a view to reduce the additional fee of Rs. 100 per day which is presently applicable for the delayed filing of forms, documents. A reduced additional fee is expected to incentivize smooth filing of records and returns of LLPs and consequently result in an updated registry for proper regulation and policy making.

Source: PIB

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What are the Powers of Board of Directors of Company

Posted on by Fastlegal Team


Board of Directors of the Company plays a main important role in functioning operation of the company, Section 179 of Companies Act 2013 provides powers of Board of Directors of Company

Powers of Board Of Directors

Following are the Powers of Board of Directors


(1) The Board of Directors of a company shall be entitled to exercise all such powers, and to do all such acts and things, as the company is authorised to exercise and do:
Provided that in exercising such power or doing such act or thing, the Board shall be subject to the provisions contained in that behalf in this Act, or in the memorandum or articles, or in any regulations not inconsistent therewith and duly made thereunder, including regulations made by the company in general meeting:
Provided further that the Board shall not exercise any power or do any act or thing which is directed or required, whether under this Act or by the memorandum or articles of the company or otherwise, to be exercised or done by the company in general meeting.


(2) No regulation made by the company in general meeting shall invalidate any prior act of the Board which would have been valid if that regulation had not been made.


(3) The Board of Directors of a company shall exercise the following powers on behalf of the company by means of resolutions passed at meetings of the Board, namely:-
(a) to make calls on shareholders in respect of money unpaid on their shares;
(b) to authorise buy-back of securities under section 68;
(c) to issue securities, including debentures, whether in or outside India;
(d) to borrow monies;
(e) to invest the funds of the company;
(f) to grant loans or give guarantee or provide security in respect of loans;
(g) to approve financial statement and the Board’s report;
(h) to diversify the business of the company;
(i) to approve amalgamation, merger or reconstruction;
(j) to take over a company or acquire a controlling or substantial stake in another company;
(k) any other matter which may be prescribed:
Provided that the Board may, by a resolution passed at a meeting, delegate to any committee of directors, the managing director, the manager or any other principal officer of the company or in the case of a branch office of the company, the principal officer of the branch office, the powers specified in clauses (d) to (f) on such conditions as it may specify:
Provided further that the acceptance by a banking company in the ordinary course of its business of deposits of money from the public repayable on demand or otherwise and withdrawable by cheque, draft, order or otherwise, or the placing of monies on deposit by a banking company with another banking company on such conditions as the Board may prescribe , shall not be deemed to be a borrowing of monies or, as the case may be, a making of loans by a banking company within the meaning of this section.
Explanation I.-Nothing in clause (d) shall apply to borrowings by a banking company from other banking companies or from the Reserve Bank of India, the State Bank of India or any other banks established by or under any Act.
Explanation II.-In respect of dealings between a company and its bankers, the exercise by the company of the power specified in clause (d) shall mean the arrangement made by the company with its bankers for the borrowing of money by way of overdraft or cash credit or otherwise and not the actual day-to-day operation on overdraft, cash credit or other accounts by means of which the arrangement so made is actually availed of.


(4) Nothing in this section shall be deemed to affect the right of the company in general meeting to impose restrictions and conditions on the exercise by the Board of any of the powers specified in this section.