ComplianceShip

Change of Authorised capital of the Company        A Step toward future Expansion….. Introduction The Authorized share capital/ Share Capital of the Company means a capital upto which a company is authorized to issue shares to existing or new shareholders. Generally, a company required to have funds, from time to time, for its growth and meeting its working capital requirement. In case, if a company has to issue shares, either to existing shareholders or to new shareholders, beyond its authorized capital, then in such a scenario it would first be required to increase its authorized share capital by complying the procedure laid down under the Companies Act, 2013. As per the Companies Act, 2013 which states that a company can increase its authorized share capital by following up the procedure laid down the provisions of section 61, 64 and 13 of the Companies Act, 2013 and the rules made there under. According to the above sections, Authorized share ca...

ALL ABOUT FINANCIAL INTELLIGENCE UNIT- INDIA (FIU-IND) OVERVIEW FIU-IND means Financial Intelligence Unit- India was set up by Government of India vide Office Memorandum dated 18 th November, 2004 as the central national agency with the primary object of receipt and analysis of Suspect financial transactions and other money laundering related information’s, And for dissemination of result of such analysis in close co-operation with the regulatory authority such as RBI, SEBI and IRDA. It is pertinent to note down here that FIU-IND has recently released a list of approx. 8,500 non compliant NBFC on 20-03-2018 relating to non fulfilment of obligations under Prevention of Money laundering (PML) Acts and PML Rules relating to registration of Principal Officer (PO) with FIN Net portal of FIU-IND. So, it is important to know what this portal is all about and who are required to register on the portal and what the procedure for registration is. IFU-IND is basic...

Residential lease deed – A Home to Live In..... Introduction In the era of modernisation, where the life of city, with availability of easy facilities and opportunities, seems to attract the youngsters of the society. The reason for attractions is to accomplish dream and to be independent. Many people leave their house and shift to another city just to earn a livelihood. For which they need to stay in Hostels, PG’s or rented house. Generally, one prefers to have a rented house so that he lives independently. Mutual understanding needs to be created between the Lessor and Lessee. Some clauses needs to be agreed upon by the both the Parties at the initial stage to avoid future disputes.  Therefore, the possession of rented house, if acquired, by means of lease deed or rent agreement with defined terms and conditions will make life easy. Before coming to the important clauses of the residential lease agreement, let us first understand what it means. The word lease deed co...

MEANING OF IMPORT AND EXPORT In the regime of Amazon, Flipkart, OLX etc., sale and purchase of goods has been made so easy. Goods from one corner of the World can be sold and purchased by the other corner on a single click.This purchase/sale of goods/services from one country to another are termed as Import and Export respectively. The very first step to enter into import and export transaction in India is to have Importer Exporter Code or commonly known as Import and Export Code (IEC). Therefore, a Person desirous to carry out such import/export business in Indiashould know the process, necessity and list of documents needed to apply for IEC. Here, let us proceed further to understand the registration for import and export. IMPORT EXPORT CODE An IEC or import export code is an alpha-numeric 10 digit number allotted to a person for undertaking any export/import activities. An application is made to DGFT  online, who issues Importer Exporter Code in electronic form (e...