Author: Fastlegal Team

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How to Become SEBI Registered Investment Advisor

Posted on by Fastlegal Team

If you are providing Investment Advisory Services in India, you must be registered as an Investment Advisor with the Securities and Exchange Board of India (SEBI ) as per SEBI ( Investment Advisors) Regulations, 2013, Investment Advisors regulations provides that no person shall act as an investment adviser or hold itself out as an investment adviser unless he has obtained a certificate of registration from the SEBI in accordance with SEBI Investment Advisors Regulations “SEBI Registered Investment Advisor”.

Also, no person, while dealing in the distribution of securities, shall use the nomenclature “Independent Financial Advisor, IFA or Wealth Adviser or any other similar name” unless registered with the SEBI as Investment Adviser

SEBI Registered Investment Advisor

What Is Investment Advice

Means advice relating to investing in, purchasing, selling, or otherwise dealing in securities or investment products, and advice on investment portfolio containing securities or investment products, whether written, oral, or through any other means of communication for the benefit of the client and shall include financial planning

Provided that investment advice given through newspaper, magazines, any electronic or broadcasting or telecommunications medium, which is widely available to the public shall not be considered as investment advice for the purpose of these regulations

Who is Investment Advisor

Any person, who for consideration, is engaged in the business of providing investment advice to clients or other persons or group of persons and includes any person who holds out himself as an investment adviser, by whatever name called

Who can Apply for “SEBI Registered Investment Advisor”

  • Individual
  • Partnership Firm
  • LLP
  • Company

Qualification and Certification Requirement for “SEBI Registered Investment Advisor”

  • A professional qualification or post-graduate degree or post graduate diploma (minimum two years in duration) in finance, accountancy, business management, commerce, economics, capital market, banking, insurance or actuarial science from a university or aninstitution recognized by the Central Government or any State Government or a recognised foreign university or institution or association or a professional qualification by completing a Post Graduate Program in the Securities Market (Investment Advisory)from NISM of a duration not less than one year or a professional qualification by obtaining a CFA Charter from the CFA Institute
  • An experience of at least five years in activities relating to advice in financial products or securities or fund or asset or portfolio management
  • Persons associated with investment advice shall meet the following minimum qualifications, at all times -(i) a professional qualification as provided in clause (a) of sub-regulation (1) of regulation 7; and(ii) an experience of atleast two years in activities relating to advice in financial products or securities or fund or asset or portfolio management
  • An individualinvestment adviseror principal officer of a non-individual investment adviser, registered under these regulations and persons associated with investment advice shall have, at all times a certification on financial planning or fund or asset or portfolio management or investment advisory services-(a)from NISM; or(b)from any other organization or institution including Financial Planning Standards BoardofIndia or any recognized stock exchange in India provided such certification is accredited by NISM:Provided that fresh certification must be obtained before expiry of the validity of the existing certification to ensure continuity in compliance with certification requirements

Networth Requirement for SEBI Investment Advisors Registration “SEBI Registered Investment Advisor”

CategoryNetworth
Individual5 Lakh
Non-Individual50 Lakh

Meaning of Networth :

This means the aggregate value of paid-up share capital plus free reserves (excluding reserves created out of revaluation) is reduced by the aggregate value of accumulated losses, deferred expenditure not written off, including miscellaneous expenses not written off ( Applicable in Case of Company)

Fee for SEBI Investment Advisors Registration “SEBI Registered Investment Advisor”

Application fee

Individuals and
firms		Rs. 2000

For Body Corporate
including
Limited
Liability Partnerships		Rs. 10000

Registration fee

For individuals and firmsRs. 3000
For body Corporate including
Limited Liability Partnerships		Rs. 15000
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Meaning of Person of Indian Origin (PIO)

Posted on by Fastlegal Team

(PIO) means a citizen of any country other than Bangladesh or Pakistan, if

(i) he at any time held Indian Passport; or

(ii) he or either of his parents or any of his grandparents was a citizen of India by virtue of the Constitution of India or the Citizenship Act, 1955 (57 of 1955); or

(iii) the person is a spouse of an Indian citizen or a person referred to in subclause (i) or (ii).

Reference: https://dipp.gov.in/sites/default/files/CFPC_2017_FINAL_RELEASED_28.8.17.pdf

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Statutory Audit in Private Limited Company

Posted on by Fastlegal Team

A statutory audit is a legally required audit of the financial statements of a company by an external auditor. It is conducted to ensure that the financial statements are in compliance with applicable accounting standards and other legal requirements. The statutory audit of a private limited company is conducted to ensure that the financial statements presented by the company to its shareholders are true, fair and accurate. The statutory audit of a private limited company is conducted by an independent Chartered Accountant (CA) or an audit firm registered with the Institute of Chartered Accountants of India (ICAI). The auditor is required to check and verify the accuracy of the financial statements, the reliability of the accounting records, the internal controls, and compliance with applicable laws and regulations. The auditor is also required to provide an opinion as to whether the financial statements give a true and fair view of the company’s financial position and operations. The statutory audit is conducted in accordance with the applicable accounting standards and other legal requirements. The auditor is required to review the financial statements in detail and provide an independent opinion as to whether the financial statements are prepared in accordance with the applicable accounting standards and other legal requirements. The auditor is also required to review the internal controls and ensure that the company’s financial records are accurate and reliable. The statutory audit report is issued by the auditor to the shareholders at the end of the audit process. The audit report contains the opinion of the auditor as to whether the financial statements give a true and fair view of the company’s financial position and operations. The audit report is important because it provides the shareholders with assurance that the financial statements are accurate and reliable. The statutory audit of a private limited company is an important process that helps to ensure the accuracy and reliability of the financial statements. It is also important for shareholders to receive assurance that the financial statements are in compliance with applicable accounting standards and other legal requirements.

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The Ultimate Guide to Trademark Registration Process in India

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Introduction

Trademarks are crucial assets for businesses as they help in distinguishing their products or services from those of their competitors. In India, the registration process for trademarks is governed by the Trade Marks Act, 1999. Registering a trademark provides exclusive rights to the owner and helps in building brand reputation and preventing unauthorized use of the mark.

In this blog post, we will guide you through the trademark registration process in India, its benefits, the required documents, public search of trademarks, and the importance of brand protection.

The Trademark Registration Process in India

The trademark registration process in India involves several steps and can take anywhere between 12 to 24 months. The first step is conducting a comprehensive search to ensure that the proposed trademark is unique and not similar to any existing marks. This can be done through the official website of the Trademark Registry.

Once the search is completed, the application for trademark registration can be filed online or offline. The application should contain all the necessary details, including the class or classes under which the mark needs to be registered. It is important to accurately describe the goods or services for which the mark will be used.

After filing the application, it undergoes a formal examination by the Trademark Registrar. If there are no objections, the mark is published in the Trademark Journal for a period of four months. During this time, any third party can oppose the registration of the mark. If there are no oppositions or if the opposition is successfully defended, the mark proceeds to registration.

Benefits of Trademark Registration

Registering a trademark in India offers numerous benefits to businesses. It provides exclusive rights and ownership of the mark, allowing the owner to take legal action against any infringement. It also acts as a deterrent for potential infringers and helps in building brand loyalty and customer trust.

Moreover, a registered trademark can be used as an asset for licensing or franchising opportunities, generating additional revenue for the business. It also enhances the brand’s image and reputation, making it more attractive to investors and potential partners.

Required Documents for Trademark Registration

When applying for trademark registration in India, certain documents are required. These include:

  • Identity proof of the applicant (Individual or Company)
  • Address proof of the applicant
  • Logo or mark to be registered (in JPEG format)
  • Proof of claim of prior use (if applicable)
  • Power of Attorney (in case of filing through an agent)

It is important to ensure that all the documents are accurate and complete to avoid any delays or rejections in the registration process.

Public Search of Trademarks

The public search of trademarks allows individuals or businesses to check the availability of a particular trademark before filing an application. This search helps in determining if a similar or identical mark already exists in the trademark database. Conducting a public search is crucial to avoid the risk of objections or oppositions during the registration process.

The Importance of Brand Protection

Brand protection is essential for businesses to safeguard their reputation and prevent unauthorized use of their trademarks. Registering a trademark is a vital step in brand protection as it provides legal protection and exclusive rights to the owner. It allows businesses to take legal action against infringers and maintain the uniqueness and distinctiveness of their brand in the market.

Overall, trademark registration in India offers numerous benefits and is a crucial step for businesses to establish and protect their brands. By following the proper registration process and ensuring brand protection, businesses can enhance their market presence and gain a competitive edge.

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How to check if a brand name (Trademark) is registered in India

Posted on by Fastlegal Team

In this article, we will discuss step by step procedure on how to check if a brand name (trademark) is registered in India or not, checking of brand name registration status is very important for every business entity operating in any jurisdiction whether it is in India or outside.

Make a list of proposed Brand name’s (Trademark)

The first step is to make a list of the proposed brand names, business names or product names that you wish to register or check whether it is registered or not in India, It can be done by simple brainstorming, it is very much possible that if you brainstorm the brand names or the trade names for some time you will get some great names in your mind,

now what you have to do is you need to to know whether the said name is already available or not the best thing to do now is to check the same name on the search engine like Google or Bing if anything is available in this world with the same name or not it is a much higher possibility that if the same name is available you should skip that name as soon as possible because someone else is making some efforts on that name and it is better to leave that to the person or company, this is in a general sense if you have any specific requirements you may consider that name also.

trademark

Find the exact class of the product or services

In Trademark search there are 45 classes for different category of products and services, these 45 classes are based on a different type of categories like if you say your product falls in agree culture or agro-industry it will come under class 1 as all these products related to the agriculture of our underclass 1 of trademark, you are selling pharmaceutical medicines it will come under class 5 in TM also if you have electronic products mobile accessories and other items related to the electronics it will come under class 9 of the trademarks 2534 related products also under the class 35 normal business advertisement in business services a cover.

Go to Trademark public search

You have to go to the official website of the trademark search

On the official website of the trademark search you will be getting the columns for the search and the first column you need to check whether you want to search for the exact match or it contains a search for searching the start word with the word so it depends on this search mark that you are going to do so it is advisable first to search with contains and then go with the start and exact match.

Now you need to write the brand name (trademark) in the next column

now come to Ganesh from which you need to put the class you simply put the class of your products or services discuss the home and like a if you are a searching for products relating to the readymade garments and put out class 25 simply put 25 in the next column.

Now you need to click on the search button and if you are finding some of the trade marks you need to go through and check them to see if these are relating to your mark if you find some confusion on that just simply don’t use tgis mark as it is not available to you.

If there is no mark available on the search page you need to search it again for the next process and in all that processes if you find more results it is beat her and most probably the mark is available for registration.

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Main Object of Stone Trading Company

Posted on by Fastlegal Team
  1. To carry on in India or elsewhere the business as manufacturers, producers, processors, importers, exporters, buyers, sellers, stockiest, agent, reseller, merchants, suppliers, crushers, shapers, polishers, grinders, converters, finishers or otherwise deal in all kinds of granites, marbles, stones, tiles, glazed tiles, limestone, slate stones, Chalk, Clay, Precious stones, kota stones and other stones or deposits, tiles and other related products.
  2. To purchase, or otherwise take on lease, acquire any mining rights, mines, quarrying, setting up cutting and polishing unit, trading in granite blocks, polished slabs, tiles, monuments, slate stone and marbles.
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Mandatory Requirement for CSR Registration Number for Undertaking CSR Activates by NGO’s

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In this article we will discuss about the new procedure for registration of entities for undertaking CSR Activities, with effect from 1st April 2021 every entity undertaking CSR Activities must register with MCA by filing form CSR-1.

In accordance with the Companies (Corporate Social Responsibility Policy) Amendment Rules, 2021, company can undertake CSR activities either itself or through entities defined under Rule 4 sub rule (1).
These companies/entities are required to mandatorily register themselves with the central government for undertaking any CSR activity by filing the e-form CSR-1 with the Registrar.

Procedure for obtaining CSR Registration Number :

Mandatory Requirements:

Class of Entities that can be registered :

  • Company established under Section 8 of the Companies Act, 2013 with Section 12A and Section 80G registrations under the Income Tax Act, 1961.
  • Registered Public Trust with Section 12A and Section 80G registrations under the Income Tax Act, 1961.
  • Registered Society with Section 12A and Section 80G registrations under the Income Tax Act, 1961.
  • Company established under Section 8 of the Companies Act, 2013 or Registered Trust or Registered Society established by the Central Government or State Government

Entity is established by any company or group of companies
Registration- YES/NO

if not, established by any company or group of companies:

that entity must have established track record of three years in
undertaking similar activities

Name of Entity

Date of incorporation

Details of Directors/ Board of Trustees/ Chairman/ CEO/ Secretary/ Authorized Representatives of the entity

Documents Required :

  • Certificate of Registration
  • PAN of Entity

Uploading of CSR 1 form with MCA :

The CSR 1 form is required to be uploaded with MCA after certification from Authorized Person and by Company Secretary /CA/ CMA in Practice

Processing Type of CSR 1 form


When an eForm is successfully processed, an acknowledgement of the same is sent to the user in the form of an email to the email id of the entity. Further, a digitally signed approval letter along with CSR Registration number with Format CSRXXXXXXXX where X represents system generated unique sequential number will be sent to the FO User as well as the email ID of the entity as entered in the eform.

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Mandatory Requirement for CSR Registration Number for Undertaking CSR Activates by NGO's 1
Mandatory Requirement for CSR Registration Number for Undertaking CSR Activates by NGO's 2
Mandatory Requirement for CSR Registration Number for Undertaking CSR Activates by NGO's 3
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Draft Format of Director’s Report for Small Private Limited Company

Posted on by Fastlegal Team

To the Members of [Your Company Name],

In compliance with Section 134 of the Companies Act, 2013, the Directors are pleased to present the Annual Report along with the Audited Financial Statements for the financial year ended 31st March [Year].

1. Financial Summary or Highlights/Performance of the Company
The financial performance of the Company for the year end is summarized below:

ParticularsCurrent Year (₹)Previous Year (₹)
Total Revenue
Profit Before Tax
Provision for Tax
Profit After Tax
Dividend

2. State of the Company’s Affairs
Discuss the state of affairs of the company in detail. Mention any significant changes in the business operations during the year.

3. Change in the Nature of Business, if any
In case there has been any change in the nature of business, it should be reported in this section.

4. Dividend
If the board proposes to distribute a dividend, provide details about the rate of dividend and the total amount to be distributed.

5. Reserves
State the total amount proposed to be carried to reserves.

6. Brief description of the Company’s working during the year/Status of Affairs
Present an overview of the business and operations during the year, including any expansion, diversification, or contraction of activities.

7. Directors

  • A declaration by the Independent Directors under sub-section (6) of Section 149 of the Act.
  • In case of the appointment of a director or resignation of a director, the details should be mentioned.

8. Board Meetings
A detailed account of the number of Board Meetings conducted during the year.

9. Directors’ Responsibility Statement
A statement by the Directors’ on their responsibility regarding the preparation of annual statements, applying appropriate accounting standards, and maintaining adequate accounting records.

10. Details in respect of frauds reported by auditors under sub-section (12) of section 143 other than those which are reportable to the Central Government.

11. Conservation of energy, technology absorption and foreign exchange earnings and outgo
Details according to the provisions of Section 134(3)(m) of the Companies Act, 2013 read with Rule 8 of The Companies (Accounts) Rules, 2014.

12. Subsidiaries, Joint Ventures and Associate Companies
Provide a report on the performance and financial position of each subsidiary, associate, and joint venture included in the consolidated financial statement.

13. Deposits
Detail the amount, if any, which it has accepted exceeding the prescribed limit.

14. Particulars of Loans, Guarantees or Investments
Details as per the provisions of section 186 of the Companies Act, 2013.

15. Corporate Social Responsibility (CSR)
If applicable, a brief outline of the company’s CSR policy, including an overview of projects or programs to be undertaken pursuant to the CSR Policy.

16. Risk Management Policy
Elaborate on steps taken to mitigate the risks encountered by the business.

17. Internal Control Systems
Discussion of the effectiveness of the internal control systems and their adequacy.

18. Material changes and commitments, if any, affecting the financial position of the company

19. Details relating to Depository Participants
Mention any changes in the arrangements with the depository participants, if applicable.

This report intends to present a transparent view of the company’s business operations to our stakeholders. Your Directors acknowledge with gratitude the encouragement and support extended by our valued shareholders, bankers, suppliers, and customers.

The Directors also take this opportunity to express their appreciation for the hard work and dedication shown by the employees of the company and look forward to their continued contribution in the years ahead.

For and on behalf of the Board of Directors,
[Director’s Name]
[Director’s Signature]
[Date] & [Place]

Note: The details provided above are for illustrative purposes only and should be tailored to reflect the actual data and affairs of the specific company for which the report is being prepared. Furthermore, it is important to stay updated with legal requirements as they are subject to change.

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Company Registration: How to Register in Hindi

Posted on by Fastlegal Team

अगर आप कोई बिजनेस स्टार्ट कर रहे हैं और आप सोच रहे हैं कि उस बिजनेस को आप प्राइवेट लिमिटेड कंपनी (Company Registration ) में कैसे रजिस्टर करें।

चाहे आपका बिजनेस कोई भी हो आप उसको प्राइवेट लिमिटेड कंपनी के अंदर चला सकते हैं प्राइवेट लिमिटेड कंपनी के अंदर चलाने से आपके जो बिजनेस की लाइबिलिटी है वह लिमिटेड लायबिलिटी होगी और कंपनी एक अलग सेपरेट एंटिटी रहेगी, जो उसके डायरेक्टर्स और शेरहोल्डर से बिल्कुल अलग होगी.

company registration

Directors कंपनी में वह व्यक्ति होते हैं जो कंपनी के ऑपरेशंस को मैनेज करते हैं और अपनी के बिजनेस को चलाते हैं

वहीं दूसरी तरफ कंपनी के शेयर होल्डर्स वह व्यक्ति होते हैं तू कंपनी में इन्वेस्टमेंट करते हैं,

अब बात आती है कि क्या डायरेक्टर और शेरहोल्डर्स एक ही लोग हो सकते हैं क्या? हां बिल्कुल एक ही पर्सन डायरेक्टर और शेरहोल्डर दोनों हो सकता है मैं खुद ही अपनी कंपनी में इन्वेस्टमेंट कर सकता है तथा उसको मैंनेज कर सकता है.

प्राइवेट लिमिटेड कंपनी (company) के अंदर बिजनेस स्टार्ट करने के लिए आप को मिनिमम दो डायरेक्टर्शो शेयर होल्डर की आवश्यकता होगी इन दोनों डायरेक्टर्स को शेरहोल्डर्स के केवाईसी डॉक्यूमेंट की जरूरत होगी जो कंपनी रजिस्ट्रेशन के लिए काम में आएंगे

Company Registration के लिए निम्नलिखित दस्तावेज या दस्तावेजों की आवश्यकता होगी

  • पैन कार्ड की कॉपी
  • आधार कार्ड की कॉपी
  • बैंक खाते की कॉपी ( Saving Account) with address
  • फोटो
  • मोबाइल नंबर
  • ईमेल आईडी

उपयुक्त दस्तावेज कंपनी के डायरेक्टर और शेयर होल्डर के होंगे

उपयुक्त दस्तावेज पूरे होने के पश्चात हमें डिजिटल सिग्नेचर के लिए अप्लाई करना होगा डिजिटल सिग्नेचर अप्लाई करने के लिए एक वीडियो की आवश्यकता होगी उसके अंदर जो भी डिजिटल सिग्नेचर अप्लाई कर रहे हैं उनका एक मिनिमम 20 सेकंड का वीडियो अपने को चाहिए होगा.

कंपनी के पंजीकृत कार्यालय हेतु निम्नलिखित दस्तावेजों की आवश्यकता होगी for Company Registration –

  • इलेक्ट्रिसिटी बिल
  • No objection certificate from owner (NOC)
  • किरायानामा, अगर ऑफिस एड्रेस किराए पर है तो

कंपनी रजिस्ट्रेशन (Company Registration) के लिए अप्लाई करना

रजिस्ट्रेशन के लिए अप्लाई करने के लिए आपको किसी प्रोफेशनल कंसल्टेंट की हेल्प लेने की जरूरत होगी, आपके कंसलटेंट आपकी यह एप्लीकेशन रजिस्ट्रार ऑफ कंपनीज में फाइल करेंगे.

* एप्लीकेशन पूरी तरह फाइल होने के पश्चात रजिस्ट्रार ऑफ कंपनीज उसका

जैसे ही आपको कंपनी का सर्टिफिकेट और अगर रिक्वायरमेंट्स मिलती है आपको कंपनी में जो सब्सक्रिप्शन अमाउंट आपने डाला है वह अमाउंट आपको कंपनी के बैंक खाते के अंदर जमा कराना होगा उसके पश्चात कंपनी को रजिस्ट्रार ऑफ कंपनीज के अंदर बिजनेस कमेंसमेंट फॉर्म फाइल करना होगा जैसे ही कंपनी बिजनेस कमेंसमेंट का फॉर्म फाइल करती है कंपनी अपना बिजनेस स्टार्ट कर सकती है

For Company Registration you need to carry on all the above procedure, if you need any help for company registration , Please contact us at 9782280098