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Patentability In India.

Patents are one of the crucial and most important Intellectual Property Rights for any inventor and business organization. Every inventor wants to protect their invention from infringement and wants to avoid legal troubles. Analysis of the invention for patentability is always advised to be done at earlier stages, this helps in ascertaining the road map of the invention.

In India, one can get a patent for an invention or a research activity and not for discovery. Not every invention will get a patent, The Patent office will grant a patent to inventions which satisfy the Patentability Criteria, I.e. Novelty, Non-obviousness, Industrial applicability and Patentable Subject Matter. Before filing a patent application at Indian Patent Office, an inventor or his attorney performs a patentability search to determine the parameters of patentability.

Every invention has to qualify for all patentability criteria for ascertaining the patentability of any invention. If any invention is not able to qualify for any of the criteria it will be treated as non-patentable subject matter.

The following are the major parameters one must go through before analyzing the patentability of any invention:

  1. Novelty: Novelty is an absolute novelty which means invention must be new globally and it is not country-specific. As per s. 2(1)(l) of The Indian Patent Act, a “New Invention” is an invention which has not been published in any document (both patent and non-patent document) or disclosed or used anywhere in the world before the date of filing of the patent application.
  • Inventive step/ Non-obviousness: As per s. 2(1)(ja) of the Indian Patent Act, an inventive step is a feature of an invention that involves technical advancement as compared to the existing knowledge or having economic significance or both and that makes the invention not obvious to a person skilled in the art. The invention is said to be non-obvious if it is not obvious to a person skilled in the art and it involves a distinctive feature or is economically significant with respect to the existing prior art
  • Industrial applicability: As per section 2(1)(ac) of the Indian Patent Act, an invention is said to be capable of industrial application if it is made by the industry or used in the industry.
  • Patentable Subject Matter: Sections 3 and 4 of the Indian Patents Act describe subject matters excluded from patentability and hence are not considered to be patentable. Thus, inventions which do not fall under sections 3 and 4, are considered to be patentable subject matter (subject to other patentability criteria).

Author: The article is written by Ujjwala Gumble, MSc (Bioinformatics), PGD (Patents Law). She is a Registered Indian Patent Agent with 7+ years of experience in Patentability Search, Patent Drafting, and Patent Filings. She is associated with the company and independent patent practitioner.

INC-20A

First Compliance after Company Registration

FORM INC-20A

“DECLARATION FOR COMMENCEMENT OF BUSINESS”

 In this article, we discussed the Declaration for commencement of business Form INC-20A

MCA has inserted a New Section 10A inserted after Section 10 by the Companies (Amendment) Ordinance, 2018 dated 02.11.2018 and the same has been inserted in Rule 23A of the Companies (Incorporation) Rules, 2014.

  • Governing Section: Section 10A of the Companies Act, 2013
  • Governing Rule: Rule 23A of the Companies (Incorporation) Rules, 2014

Requirement of filing Form INC-20A

With reference to section 10A of the Companies Act, 2013 every Company incorporated on or after 02nd November 2018 and having a share capital is required to file a declaration within 180 days of incorporation regarding the company has received the total value of the shares subscribed by shareholders of the company.

Attachments to form: Bank statement of the company in which the subscription money is received.

Certified by: This e-Form INC-20A must be verified by a Company Secretary or a chartered Accountant or a Cost Accountant or an Advocate in practice

Penal Provisions:- Company can file such form INC-20A with Roc even after 180 days by paying additional fees.

Delayed periodApplicable Fees in (Rs)
Up to 30 days2 times of form fees
Above 30 but not exceeding 60 days4 times of form fees
Above 60 days but not exceeding 90 days6 times of form fees
Above 90 days but not exceeding 180 days10 times of form fees
Above 180 days12 times of form fees

A penalty imposed on Company: A penalty of Rs. 50,000 will be imposed on the defaulting Company.

A penalty imposed on Officer in Default: A penalty of Rs 1,000 which can be extended to Rs 1,00,000 shall be imposed on every officer/director in default.

Power to ROC: ROC is empowered to initiate action for the removal of the name of the Company, on the grounds that the company not carrying any business or operations.

The consequence of the delayed filing of the form INC-20A:

  • The company cannot borrow money.
  • The company cannot start a business

Important Points related to Form INC-20A

  • The company can’t take any borrowings, raise any funds, execute any agreement; or make any investment before filling the form INC-20A i.e. can’t initiate any business activity.
  • Without filling INC-20A, the company can change the directorship if the event is held within 180 days from the date of incorporation but can’t do the same after the lapse of 180 days of incorporation and can’t fill the form DIR-12, in this regards the authority’s perspective that the company not start any business activity and has not allowed changing the directorship.
  • Due to non-filling form INC-20A, a company is not allowed to fill Forms related to annual filings (ADT-1, MGT-7 and AOC-4), charge-related forms or any other forms.
  • A Company can be struck off voluntary by filling the form STK-2 that has not filed INC-20A within 180 days of incorporation. After that, filing of form INC-20A is to be filed first and then form STK-2 can be filed for Strike off procedure.
  • A Company can’t change its registered office before filling INC-20A.
  • The payment receipt is the only proof of submitting the Form.
  • In conclusion, it can be said that this form is just a declaration made by the company to the respective ROC that the company has received the subscription money from the shareholders and can commence its business.
Legal Metrology (Packaged Commodity) Rules, 2011

The Legal Metrology Act and Legal Metrology Packaged Commodity Rules are a grey area for business entities and most of them are not complying with the rules and provisions made. This article is focused to let business entities understand the applicability and importance of the LM Act and the LMPC, Rules.

Background:

Legal Metrology (Packaged Commodity) Rules was introduced and published in The Gazette of India in the year 2011 bearing the gazette number GSR 200(E). These rules came into force on the 1st of July 2012 and since then they have been amended and modified multiple times. One of the major amendments made to LMPC Rules in the year 2017 by the official gazette GSR 629(E) dated 23rd July 2017. The Legal Metrology Act and Packaged Commodity Rules were made applicable for e-commerce industries as well from 1st January 2018.

Applicability:

The Act and The Rules apply to every pre-packed commodity available in the market, sold by weight, length, volume, or quantity, and are majorly applicable to FMCG Industry. Applicability of The Legal Metrology Act, 2009 and LM (Packaged Commodity) Rules, 2011 is very vast and can be understood with the following provisions of the act.

Concerning Legal Metrology Packaged Commodity Rule 27 define as, “Every Firm, or Company or organization or any other business structure who or which pre-packs or import any commodity for sale, distribution, delivery shall make an application along with the prescribed fee for the registration of its name and complete address, and such application shall be made:-

  • Before the commencement of these rules, within a period of 90 days from the commencement of the rules
  • After commencement of these rules, within a period of 90 days from commencement of business.”

Concerning Section 18(1) of The Legal Metrology Act, 2009 “No person shall manufacture, pack, sell, import, distribute, deliver, offer, expose or possess for sale any pre-packaged commodity unless such package is in such standard quantities or number and bears thereon such declarations and particulars in such manner as may be prescribed”.

Concerning Section 36(1) of The Legal Metrology Act, 2009 “Whoever manufactures, packs, imports, sells, distributes, delivers or otherwise transfers, offers, exposes or possesses for sale, or causes to be sold, distributed, delivered or otherwise transferred, offered, exposed for sale any pre-packaged commodity which does not conform to the declarations on the package as provided in this Act, shall be punished with fine which may extend to twenty-five thousand rupees, for the second offence, with fine which may extend to fifty thousand rupees and for the subsequent offence, with fine which shall not be less than fifty thousand rupees but which may extend to one lakh rupees or with imprisonment for a term which may extend to one year or with both”.

Concerning Section 36(2) of The Legal Metrology Act, 2009 “Whoever manufactures or packs or imports or causes to be manufactured or packed or imported, any pre-packaged commodity, with error in net quantity as may be prescribed shall be punished with fine which shall not be less than ten thousand rupees but which may extend to fifty thousand rupees and for the second and subsequent offence, with fine which may extend to one lakh rupees or with imprisonment for a term which may extend to one year or with both”.

Interpreting the rule and sections it becomes mandatory to comply with the provisions of the LM Act and LMPC Rules for all manufacturers, importers, distributors, wholesalers, sellers, supermarkets, retail shops, e-commerce websites, etc.

Industries covered and comply with LM (Packaged Commodity) Rules:

Before understanding the industries covered under Legal Metrology Packaged Commodity, Rules it is important to understand the meaning of pre-packed commodities. Pre-packed commodity means a commodity that is introduced to the market in packed form with determining quantity whether the purchaser is not present physically whether sealed or not. This defines that even a small grocery store vendor or snack vendor selling any products which he packs himself in advance to sell, has to comply with the provisions of LMPC rules non-compliance may attract penalties.  

For illustration, if a Food Business Operator (FBO) is selling its products in packing size of 200 gm or a Cosmetic company selling any body lotion in 400 ml packaging, or Any Garment Manufacturer selling shirts as per size standards (S, M, L, XL, etc.) or any Suiting Shirting company selling a cut piece of fabrics in packaged form, Furniture industry selling dining table as per no of chairs, etc. are required to obtain the license from legal metrology and to comply with legal metrology packaged commodity rules.

Every pre-packed product is to comply with these rules and provisions made there and to display all necessary details on the package as defined by the rules etc. The Packaged Commodity Rules majorly apply to the FAST-MOVING CONSUMER GOODS (FMCG) Industry which is one of the highest-growing industries in current times.

In simple terms, the Packaged Commodity Rules apply to every good available in packed forms sold by denoting its weights, volume, length, size and quantity. Industries such as Food Industry, Readymade Garment Industry, Thread & Fabric Industry, Drugs, and Cosmetic Industry, Iron Industry, Home Decor Industry, Furniture Industry, E-commerce Industry, Footwear Industry, and many others.

Interplay with other laws:

The legal metrology packaged commodity (LMPC) rules interplay with other acts as well to protect the rights of consumers and display norms such as (FSSAI) Food Safety Laws, Drugs and Cosmetic laws, Consumer Protection Act, etc. Thus with certain laws, few details are mandatory to display as per the provisions of the respective act i.e. The Food Safety and Standards Act, 2006 and other details are to be displayed as per the provisions of The LM Act and The LMPC Rules.

Powers available to Officials:

Legal metrology officers have been empowered by the LM Act to inspect and search any premises at a reasonable time any weight, measure, or other goods concerning which trade and commerce have taken place, or is intended to take place and any record, register, or other documents relating thereto. They are also empowered to inspect every document related to weight and measures.

Also empowered to seize any weight, measure, or other goods and any record, register or other document or article which he has reason to believe may furnish evidence indicating that an offence punishable under this Act has been, or is likely to be, committed in the course of, or relation to, any trade and commerce. Legal Metrology Officials are also empowered to dispose of any such goods which are of speedy or natural decay.

LM Officials are also empowered to forfeit any pre-packed commodity which is not as per the standards and violates the provisions described under section 18.

Consequences of violation and not obtaining registration:

There are certain consequences and penal provisions for not obtaining the license and complying with legal metrology packaged commodity licenses. Violations under the packaged commodity act can attract notices from departments throughout the country which empowers the officials or other states to send notices to any violators. The penalties are as follows:

S.noGrounds of penaltyFine on the First offenceOn the Second and Subsequent Offences
1.Where no specific punishment is providedRs. 5,000/- N.A
2.Violation of standard weight or measureRs. 10,000/-Imprisonment up to 1 year, or fine or both.
3.Non-production of documentsUp to Rs. 5,000/-Imprisonment up to 1 year, and fine both
4.Sale of commodities by non-standard weight or measureNot less Rs. 2000/- extend Up to Rs. 5,000/-Imprisonment for a period not less than 3 months which may extend to 1 year or with a fine or both
5.Selling in non-standard packagesUp to Rs. 25,000/-Fine up to Rs. 50,000/- on the second offence and for subsequent offences Fine of Rs. 50,000/- can be extended up to Rs. 1,00,000/- or with Imprisonment for a term up to 1 year or both
6.Error in net quantity as prescribedNot less than Rs. 10,000/-Fine up to Rs. 1,00,000/- or with imprisonment for a term up to 1 year or both

Additionally, various penalties could also be imposed under other laws such as Food Safety Act, Drugs and Cosmetic Act, and Consumer Protection Act. And provisions are there for compounding penalties.

Recently the consumer affairs department has issued 448 notices and recovered the compounding fees of around 78 lakhs from the e-commerce operators including Amazon and Flipkart for violating the provisions under the act and rules. Due to the strict monitoring of e-commerce platforms and imposition of fines and penalties it is expected by these E-commerce platforms to make it mandatory for sellers registered with them to comply with the rules and provisions of Legal Metrology.

Conclusion:

The Legal Metrology Act and Legal Metrology Packaged Commodity (LMPC) Rules have extensive provisions and effects on most businesses in India. Due to consumer complaints and misrepresentations by e-commerce websites, manufacturers, sellers, re-packers, brand owners, etc. the area of applicability of the LMPC has increased. All the Manufacturers, Re-packers, Importers, and Brand Owners have to comply with the norms of Packaged Commodity Rules, violations will lead to penalties and complications.

About the author:

The author is a lawyer based in Jaipur and associated with the company. The Author has consulted many business organizations to comply with the norms of Legal Metrology Packaged Commodity rules throughout India a few renowned brands are Ellementry, Syston Tea, Terra Casia, Wazud, Indibni, Titliaan Trends, Bannadi, Faith & Patience, etc. and possesses knowledge of various other laws such as Trademark Law, Copyright Law, Companies Law, Limited Liability Partnership, Partnership Law, Contract Law, Shop & Establishment, NI Act, Food Safety Laws etc. The information contained in this write-up, as provided by the author, is to provide general guidance to the reader. The information should not be used as a substitute for specific consultations. The author recommends that professional advice is sought before taking any action on specific issues.

About Us:

Alonika is a well-organized business registration firm in Jaipur and is listed as one of the best CA firms in Jaipur. We are also considered the Best Trademark Law firm in Jaipur with a diversified team of professionals and industry experts. The productive team of the company works with a vision to resolve complexities related to business registrations, licensing, and compliance in such a way to allow the entrepreneur to focus on their goals.

The head office of the firm is located in Ajmer Road, Jaipur. We provide a plethora of services ranging from GST, Taxation, Private Limited Company Registration, Company Law Matters, Project Financing, Accounts Outsourcing, Audit and Assurance, Business Registrations, Mergers and Acquisition, Trademark Registration, Trademark Opposition, Trademark Assignment, Free Trademark Search, Legal Metrology licensing, Copyright Registrations, Design Patents, Legal Advice, MOU Drafting, Risk Advisory, ISO certification, ISO Audit and Implementation, Organic Certification, and various other services required for any business to establish and operate.

Disclaimer: This article is to be treated only for educational and knowledge-sharing purposes only. Brand names used in this article belong to the right owner only.

Using CROSSFIT can bring legal complications

CROSSFIT a very common term mostly used by every gym and fitness center in India leads to a compensation of Rs. 10,00,000.

Mr. Arun Sharma proprietor of RTB GYM & FITNESS CENTER was using the term CROSSFIT since March 2018 with his premises, literature, and online platforms with hashtags (#).

Let’s try to understand what’s wrong with the term “CROSSFIT”

CROSSFIT is a coined name and registered Trademark of CrossFit LLC for stationary, fitness, and garments. The brand name is also registered and used by the company in many countries including India. CROSSFIT is operational in 145 countries and associated with more than 15,000 Gyms and licensed its Trademark to many others.

To protect its Intellectual Property Rights wasted in its Trademark the company filed a suit, which was listed for hearing on 29th October 2021. A pre-litigation mediation was also tried by the company before filing the suit. The court on the date of hearing granted an ad-interim injunction to the company and made it absolute on 15th February 2022.

Mr. Arun Sharma continued to use the “CROSSFIT” despite the injunction being granted. CrossFit LLC filed an affidavit on the 5th of September along with a statement of the cost incurred by the company on various accounts including Legal and Court fees, and miscellaneous expenses.

The court awarded the cost of Rs. 10,00,000/- to CrossFit LLC and appointed a local commissioner to visit the premises, and empowered him to takedown any billboards, advertisements, signage, and hording with the term “CROSSFIT” and to seize any stock, packaging material, stationary, promotional materials, invoices, brochures, having the brand name “CROSSFIT” or any similar or confusingly similar name, and to hand over such products to the company.

Conclusion:

Infringe any Trademark, Logo, and other Intellectual Property rights similar, nearly similar, identical, mis-spelling, and misrepresentation to a registered trademark in India can bring legal complications. Even using a registered trademark in hashtags (#) for similar products or services can also be termed trademark infringement. A term that may become commonly used in the industry by pass of time or with its popularity is even protected through Trademark Registration in India.

About the Author:

The Author is based in Jaipur, Rajasthan, and one of the best trademark registration service providers in Jaipur. The Author is also associated with many Law Firms and Chartered Accountants. The Author is enrolled with The Rajasthan High Court, Jaipur and had pursued L.L.M from Manipal University Jaipur in Corporate & Commercial Law also attended certificate courses conducted by WIPO (World Intellectual Property Organization), RGIIPM (Rajiv Gandhi National Institute of Intellectual Property Management), and Mumbai National Law University (MNLU). The Author has consulted many Startups and business owners to successfully secure their trademarks and other Intellectual Property Rights throughout India. Some of the popular brands the author has worked for are INDIBNI, INDIGIFTS, SYSTON TEA, ACCURATE BALL INDUSTRIES, DOLFIT, SHARARAT, SHYAM KRIPA FRAGRANCES, COFFEE CARTEL, ABHIPRAY, LINKESMIND, SLA, RATNA SAGAR JEWELS, CHANDRAKALA, J A D (JAJU ART DIMONDS), ITISHA, FAT RABBIT, MRS. MAGE, NAAP MART, STILSKII, DUNECREST, PINAKI LEGAL, UDHAR BAZAR, REMERA and many others.

Disclaimer: The details and elaboration provided is for knowledge-sharing purpose only and are not to be termed as legal advice. The Trademarks used in the article belong to the right holders only and are not related to the company.

Read the order copy.

Legal Metrology (Package Commodity) Rules 2011

The Department of Consumer Affairs with its notification no G.S.R. 226(E) dated 28th March 2022 has amended the Legal Metrology (Package Commodity) Rules and will be applicable from the 1st of October 2022.

With this amendment, the department has substituted Sub-rule 11 of Rule 6 with reference to the Declaration of Unit Sale Price.

Changes are as follows:

  1. The Unit sale price (USP) in rupees is to be declared on every pre-packaged commodity and to be rounded off to the nearest two decimal (xx.00). Earlier unit sale price was not required to be declared only declaration was required with respect to Maximum Retail Price (MRP) with two decimal places (Rs xx.xx) (Inclusive of all taxes). Thus every pre-packaged commodity now has to bear two declarations related to price one is for the MRP and another one is for USP.

Declaration to be made as follows:

S.noMeasured in WeightMeasured in LengthMeasured in Volume (Liters)
1Net weight is less than 1 Kg: Rs. xx.xx per gmNet length is less than 1 meter: Rs. xx.xx per cmNet volume is less than 1 liter: Rs. xx.xx per ml
2Net weight is more than 1 Kg: Rs. xx.xx per KgNet length is more than 1 meter: Rs. xx.xx per meterNet volume is more than 1 liter: Rs. xx.xx per liter

For goods sold in units or through numbers: Rs xx.xx per unit.

Declaration of the unit sale price is not required for the pre-packaged commodity in which retail sale price is equal to the unit sale price or it can be interpreted that in the case of goods sold in units or numbers unit sale price declaration will not be required.

Declaration on spirituous liquor and alcoholic beverages should be made as per the State Excise Laws and The Rules of the state in which it is manufactured. For more details on Legal Metrology (Package Commodity) Rules, right to us at contact@alonika.in or WhatsApp us at +91-7413874664

Read the notification https://www.alonika.in/updates/gsr226/

Disclaimer:

The author is based in Jaipur and qualified lawyer and business consultant, associated with the company and possesses knowledge of various laws such as Trademark Law, Copyright Law, Legal Metrology, Companies Law, Limited Liability Partnership, Partnership Law, Contract Law, Shop & Establishment, NI Act, Food Safety Laws etc. The information contained in this write-up, as provided by the author, is to provide general guidance to the intended user. This information is not to be substituted with specific consultations. Professional advice should be sought on specific issues.

About Us:

Alonika is a leading business registration firm based in Jaipur and considered one of the best CA firms in Jaipur and also considered the Best Trademark Law firm in Jaipur with a diversified team of talented professionals. The productive team of the company works with a vision to resolve clients’ business complexities. Our motto is adding value to the growth of the business for our clients.

The head office of the firm is located in Ajmer Road, Jaipur. We provide a plethora of services ranging from GST, Taxation, Private Limited Company Registration, Company Law Matters, Project Financing, Accounts Outsourcing, Audit and Assurance, Business Registrations, Mergers and Acquisition, Trademark Registration, Trademark Opposition, Trademark Assignment, Free Trademark Search, Legal Metrology licensing, Copyright Registrations, Design Patents, Legal Advice, MOU Drafting, Risk Advisory, ISO certification, ISO Audit and Implementation, Organic Certification, and various other services required for any business to establish and operate.

Choose Alonika for Legal Metrology Registration in Rajasthan

A few of the many reasons make us the best CA Firm in Jaipur. They are as follows:

* We stay abreast of the latest technology used in business management.

* With the best CA in Jaipur, we have a professional, solution-based, and result-based approach for our clients all over India.

* We follow a well-customized approach as the requirements of different clients are always different.

* We are transparent in all our dealings

* We have adherents for every field: GST, Trademark, Tax consultancy, Start-ups, and many more organizable services.

* Confidentiality is one of the important parts of our working concept, we know the importance of it

* Our knowledgeable and experienced team members provide end-to-end solutions and believe in keeping things practical

Annual Compliance for Private Limited Company in Delhi
Annual Compliance for Private Limited Company in Delhi

Annual Compliance for Private Limited Company in Delhi – Under the companies act 2013, the Indian government legally mandates that every company( Public limited or Pvt. ltd) follow the annual compliance. In India, 90% of the company are registered under the Private Limited Company. Every year, more than 150,000 companies registered with the government.

A Separate Legal entity having perpetual succession is called a Private Limited Company. Private Limited company can issue shares but cannot release them publicly.

For each financial year, every private firm is required to submit an annual return and audited financial reports to MCA. Whether the turnover is zero or in crores, the Registrar of Companies filing is mandatory. Every certified firm is required to submit annual compliances for private limited, regardless of how many businesses are operated.

Alonika is a CA firm and it helps you to startup annual compliance in Delhi. We have an experienced and professional staff that will help to expand your business. Our main vision is  “We work to set the bar for excellence and have a solid vision”

Two types of Annual Compliance:   1) Mandatory Compliance  2) Event-based Compliance

Documents Required for Annual Compliance for Private Limited Company in Delhi

  • PAN Card
  • Memorandum of Association(MOA) and Articles of Association(AOA) of the Private Company.
  • Incorporation Certificate
  • Directors DSC
    Audit Committee Report
  • Board of Directors Report
  • Audited Financial Statements

All the Above, Documents are required for the Annual Compliance in Delhi. Alonika will help you to complete all your documents and fill out the annual compliance in time

Benefits of ROC annual compliance in Delhi

Attract Investors: If the company regularly fills the annual returns on the MCA returns. Investors have a preference to favor businesses that comply regularly. As a result, it’s essential for private companies to consistently submit yearly compliance to draw in additional investors.

Increase Company’s Reputation: An important factor that influences a company’s trustworthiness is how regularly it complies with regulations, whether for government contracts, loan approval, or other objectives. The consistency of compliance also boosts the brand’s reputation, draws in more clients, and aids in getting government contracts and loan clearance.

To Avoid penalties fill the compliance timely: Every company must fill the annual compliances in time. If they do not fill the annual compliance in time, a heavy fine will be imposed on the company.

Mandatory Compliance

The Private Limited Company are less strict statutory requirements as compared to the Public Limited company. The following are the Mandatory Annual Compliance

Board MeetingUnder the companies act 2013, the first Board Meeting shall be held within 30 days of its incorporation. The circular of the Board Meeting should be sent to every director at least 7 days before the board meeting.
Advisory Board MeetingIt is mandatory for every company they should conduct 4 meetings each year. The gap between the 2 meetings will not be more than 120 days.
Directors’ Declaration of InterestDirector must declare his interest: As a company director, he attends the first meeting or Every year, the board of directors attends the first board meeting or If there is any change in disclosure it must be stated in form MBP-1(together with a list of all relatives and concerns of relatives in the company as per the Related Party Transaction definition) that his interest in any company, body corporate, organizers/firms, or other organization of individuals. (including shareholding interest). Form MBP-1 must be submitted on time and kept on file by the company.
Appointment of AuditorThe first Auditor will be appointed by the Board of Directors within 30 days of incorporation of the company.
Annual General Meeting heldEvery company must hold its annual general meeting on or before 30th September of each year, during regular business hours on a day that is not a public holiday.
Statutory AuditThe Private Company must prepare its books of accounts and get the same audited by the CA after the approval of the financial statement by the board of directors.
Annual Return’s FilingEvery private company should prepare the annual return by the ROC. It should be prepared within 60 days of holding the Annual General Meeting in MGT-7
Filing of Financial StatementEvery Private company should be submitted its financial Statement and director’s Report in this Form AOC-4 within 30 days of holding the Annual General Meeting.
Reports on Minutes of MeetingReports should be written and maintained within 30 days of these meetings: General Meeting, Board Meeting, Creditors Meeting, Committee Meeting, Creditor’s Meeting

Event-Based Compliances

EssentialsForm No.Time Limit
Declaration of commencement of businessINC 20 Awithin 180 days from the company’s incorporation
ACTIVE(Active Company Tagging identities and verification)INC-22AEvery Private Company that registered before 31st December 2017 must be filled the E-Form ACTIVE.
Change in Registered OfficeINC-22Within 15 days of such a change
Change of company nameINC-24Within 60 days from the date of applying reservation of name in INC-1
Authorized Share Capital IncreaseSH-7Within 30 days of passing
Filing of Resolution and agreementMGT-14Within 30 days from the date of passing the Resolution.
Application of KYC DirectorsDIR-3 KYCOn or before 30th April of the immediate  next fiscal Year
Removal of  Auditor ExpiryADT-2Within 30 days of Passing
Disqualification of Director Before expiryDIR-9To be filled by the company within 30 days of such disqualification
Change in Secured BorrowingCHG-1All types of charges within 30 days of its creation.
Change of CompanyINC-27 
Increase in Paid up Share CapitalPAS-3Within 15 days from the date of allotment.
Important Beneficial Owner notifiedBEN-230 days after receiving BEN 1, the company must submit a filing to ROC.

Implications of Non-Compliance

If the company does not fill the Annual Compliance, the company and the officer will be imposed heavy penalties. The penalty will increase if the company does not fill the annual compliance

Checklist for Startup compliance in Delhi

  • Payment of recurring billing (GST amounts, TCS, TDS payment, and Advance tax)
  • Monthly/Quarterly-TDS/GST returns
  • Tax Audit Report’s filing
  • Income Tax Filing
  • Filing of Profession Tax Returns
  • Filing of PF Returns

All the above steps are mandatory for the Annual compliance of a private limited company. Alonika will assist you in every step. We provide you with a CA, who will guide you in Annual Compliance filing in Delhi. You can also consult online with our professional and expert team. Our Team will help you to complete your documents and prepare your application and complete all admissibility criteria. For more information, contact our team or visit “Alonika. in”.

Annual Compliance for Private Limited Company in Pune
Annual Compliance for Private Limited Company in Pune
Overview
An Introduction
Benefits of Annual Compliance
Documents Required for Annual Compliance
Mandatory Compliance
Documents Required for Mandatory ROC Compliance in Pune
Consquences of Non-Compliance

Annual Compliance for Private Limited Company in Pune

Annual Compliance for Private Limited Company in Pune – A Private Limited Company has a separate identity from its directors. All the Private Limited Companies that are running in India with registration issued under the Companies Act,2013, have to follow the rules of filling the annual Compliance procedure with ROC by the prescribed Deadline.

It can be a little difficult for any businessman to administer the day-to-day operations of their organization while also complying with corporate regulations. To ensure timely reporting of compliance to the Registrar without the punishment of tax or fines, it is necessary to seek the assistance of professionals who are familiar with legal requirements.

 Alonika will give you comprehensive advice on Annual Compliance for Private Limited Company in Pune. Our team has experienced and professional  Chartered Accountants, Company Secretaries, and Lawyers, who have vast experience in their respective sectors.

Annual Compliance is of two types:

  1. Mandatory Compliance: This category will contain all the requirements that apply to all businesses, regardless of size, industry, or other factors.
  2. Event-Based Compliance: this category will contain all the requirements of an event in the Company like change in directorship, alteration in a capital clause, alteration in object clause, etc.

Benefits of Annual Compliance in Pune

  1. It keeps you organized, informed, and current on the administrative, legal, and financial situation of the company.
  2. The reputation of a company’s existence will increase when its annual reports are timely and accurately filed with the ROC.
  3. Filing the Annual returns of the company in time will protect you from the penalties.

Documents Required for Startup Compliance in Pune

PAN Card
DSC of Directors
MOA and AOA Documents
Audit Report of Financial Statement
Report of Board of Directors Meeting
Report of Audit Committee
Incorporation Certificate

Mandatory Compliance

  1. Board of Directors Meeting: The Board of Directors first meeting should be performed within 30 days of the company’s incorporation. In each fiscal year,4 meetings should be held. The gap between the two meetings should not be more than 120 days
  2. A share certificate is issued: The Company must issue a share certificate to the members of the memorandum, after 60  days of the company’s formation.
  3. Statutory Auditor Appointment: Every Company is required to have its accounts audited by the Practicing Chartered Accountant in India, under the terms of the Companies Act, 2013.  In a newly incorporated company, the auditor must be appointed by the board of directors within 30 days of incorporation. The appointment must then be approved at the annual general meeting of the company.
  4. Report of the Minute’s proceeding: The minutes of every meeting must be recorded within 30 days after the Board of Directors and general meeting and kept forever to be valuable in the event of a disagreement.
  5. Annual General Meeting: The company’s Board of Directors is required to disclose the company’s genuine financial situation to the shareholders at the AGMs. AGMs must be held each fiscal year on or before September 30th, within regular business hours. The AGM shouldn’t take place on a vacation or after hours.
  6. Filing of Annual Returns: Every Private Company should file the Annual Return within 30 days after the first Annual General Meeting. We can do this by submitting MCA Form MGT-7.
  7. Filing of Financial Statements: Every Private Limited Company should file the Financial Statement within 60 days of the Annual General Meeting.
  8. Filing the Disclosure of Directors: Every company’s directors are expected to disclose their ownership interests in any other businesses to the company at the first board meeting in which they participate as directors and then at the first board meeting of each subsequent financial year in FORM MBP-1.
  9. Commencement of Business Certificate: Every company must receive the commencement of business certificate within 180 days of the business establishment. A corporation faces a fine of Rs 50,000 and a daily director fine of Rs 10,000 if it fails to obtain this certificate.
  10. Maintenance of Statutory Register: Various Register are required to be maintained by Private Companies.
MGT-1Member’s Registers
MGT-2 Debenture holder’s Register
MGT-3 Register of Foreign Members and The members residing outside the country.
FORM SH-2 Renewed and Duplicate share certificates Register
FORM SH-3Employee Stock’s Register
FORM SH-6Sweat Equity Share’s Register
FORM SH-10Shares or Securities’ Register
FORM CH-7Charges Register

Documents Required for Mandatory ROC Compliance in Pune

DIR- 3 KYCDetails of Director like PAN card, Cititzenship, Voter’s ID, Contact No, Email ID, Communication Address.Director’s DSC
ADT-1Details of Auditor like Name, Company’s PAN Number, Appointment letter, Communication Address, Annual General Meeting’s Date, etcResolution of Company’s Board
MGT-7Details Of the Company like Company PAN, Members Number, Shareholder’s Detail, Business Activities’ Information, Promoters and Debentures, Fines, etc.Checklist of Shareholders, Extension letter of AGM, Copy of MGT-8, etc.
MGT-14Corporate Identification NumberResolution Details like a copy of Agreement, date of Dispatch, etc.Company’s Details like Name, Address, Contact Number, Email, etc.
AOC-4Company’s Details (Name, Address, Contact number, Email ID, etc)Report on AuditCopies of the financial statements that have been properly authenticated under section 134, along with the board report and other documentation.Facts and Justifications for Not Holding the AGM.The balance sheet with notes, the profit and loss statements with notes, the cash flow statement, the statement of change in equity, and all other income records.Facts and justifications for not including the financial statements in the annual general meeting are stated (AGM) NOTE: All the above-mentioned points should be approved by the Directors, Managers, CEO, and CFO.  
FORM-8Micro, Small and Medium Enterprises Development Act of 2006 disclosureAn audited financial statement
 MSME Form-1Provider information, such as the Name and PAN of the provideradequate supplies of goods and servicesThe date that the payment is due as ofreason of the late payment of the required amount

Consequences of Non-Compliance

If the company has not filled the Annual Compliance within the period, then heavy penalties will be imposed on the company.

Alonika will offer you

  • to complete Documentation work
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Annual Compliance for Private Limited Company in Mumbai
Annual Compliance for Private Limited Company in Mumbai
Overview
Documents required for annual compliance in Mumbai
Mandatory Compliances for the private limited company in Mumbai
Event-based Compliances
Advantages of annual compliance of the private limited company in Mumbai
Keeping Statutory Registers Up to Date

Annual Compliance for Private Limited Company in Mumbai

A Private Limited Company enjoys a distinct identity from its directors. A private limited company is mandatory to submit annual compliance with the Ministry of Corporate Affairs (MCA). Compliances of Private Limited Company is a parliamentary act that enables all legally operating firms to carry out their commercial operations while adhering to certain rules and regulations established by the Companies Act 2013. The government has the authority to remove the names of companies and their directories that are not following the guidelines. The different strategies used by corporate sectors to evade taxes frequently land them in serious trouble. This article will go into further detail regarding the requirements for annual compliance of the Private limited company in Mumbai.

Alonika will guide you to startup annual compliance in Mumbai. Our team will provide you with the best CA and legal advisor for your help.

Annual Compliance is divided into two categories: Mandatory Compliance and Event-Based Compliance

Mandatory Compliances

Each Private Limited Company is expected to complete certain statutory secretarial compliance files or compliances as may be necessary by the Registrar of Companies (ROC) within the allotted timeframe to avoid penalties. The list of requirements for a private limited company is as follows:

  • Appointment of an Auditor: The First Auditor must be appointed in the time of 30 days from the date of incorporation. The Auditor must be appointed for 5 years. The Register of Companies (ROC) must be informed of the appointment of a new auditor within 15 days from the date of the AGM.
  • Company Secretary’s Appointment:  A private limited Company having paid-up share capital of Rs. 5 crores more is required to appoint whole time Company Secretary as under Section 203 of the Companies Act, 2013
  • Issue certificate of Business Commencement: Every Company should obtain a commencement of Business certificate within 180 days of their incorporation date. If the company does comply, a fine of Rs 50,000 may be imposed against it, and the company’s directors may also be held responsible for a fine of Rs 1000.                                                                  
  • Annual General Meeting:  The company must hold an Annual General Meeting (AGM), which should take place at the company’s registered office six months before the end of the fiscal year. An AGM is held to review and approve financial accounts, the appointment of the Auditor, and other related issues.
  • Board Meetings: Under section 173 of the companies act addresses the Board Meetings. Every Pvt company should hold board meetings within 180 days of the incorporation. Each year, four board meetings should be held and the gap between the two meetings should not be more than 120 days.
  • Maintain Statutory Register: In the companies act 2013, it is mandatory for the company should maintain the statutory register at their registered office. It includes AGM, Board meetings, register of debentures holders, etc.
  • Filing of Annual Returns: Under section 92 of the 2013 Companies Act, every private company should prepare its annual return with the  Registrar of Companies (ROC). It should be completed within 60 days of the Annual General Meeting.
  • Financial Statement’s Filing: Under section 134 of the Companies Act 2013, Every Private Company should file a financial statement within 30 days of the Annual General Meeting with the Registrar of Companies. A board will prepare the report which is based on the Financial Statement of the company and it submit to the AGM. The chairperson of the company signed the Financial Statement after the approval of the Board of Directors.
  • Statutory Accounts Audit: Every Company is required to prepare its accounts and have them audited by a Chartered Accountant after the Financial Year. The auditor is required to deliver an audit report and the verified financial statements to the registrar.

Director’s Disclosure: Every private company should fill the Form MBP-1 and it should be kept in the records of the company. The form includes: the director’s first meeting or the first meeting of the board in each financial year should disclosure their interest, whenever there is a change in disclosures.

Event-Based Compliances:

Event-based compliances are those that are caused by specific events, such as changes to the directors, the registered office, the authorized share capital, etc. Therefore, the occurrence of such events must be tracked and compliances are met on time to prevent penalties. The following list of Event-based compliances includes the time limit as well as some of them:

EventsForm No.Time Limit
Modification of Registered AddressINC-22Within 15 days after the change’s date.
Changes to the Board of Directors or KMPDIR-12within 30 days of the change
Capitalization of Authorized Shares risingSH-7Within 30 days of passing Ordinary Resolution
Resolution and Agreements FilingMGT-14Within 30 days from the date of passing the resolution
Paid up Share Capital IncreasePAS-3Within fifteen days from the date of the allotment
Application for Directors’ KYCDIR-3 KYCOn or before 30th September of immediate next Financial Year (Annual Compliance)
ACTIVE( Active Company Tagging Identities and Verification)INC-22AOn or before 25th April 2019 (Applicable to all companies registered before 31st December 2017)

Consequences of Non-Compliance: When the Company will not follow any of the regulatory compliances then the company and its officers shall be punished and a heavy fine imposed on them.

Benefits of Annual Compliance

  • Help to build Reputation of the Company: When the Private Limited Company will comply the demands of the Registrar of Companies and the Ministry of Corporate Affairs, its image will improve in the market. When the private company will follow all the rules, the reputation of the company will increase and more investors will eager to participate in it.
  • Fill the Compliance timely and avoid penalties: If the Private Limited Company will fill all the compliance within the particular time, they will not impose any penalty. This will increase the credibility in the market
  • Fewer Burdens:  When the company will complete all the compliance, it would face lower burdens. The investors will be attracted because of the work commitment that has been finished timely.

Required Documents for the Annual Compliance in Mumbai  For Private Limited Company:

  • Bank Statement
  • Director’s DSC
  • PAN Card
  • Incorporation Certificate
  • MOA- AOA of Private Company
  • Audited of Financial Statement.
  • Audit Report and Board Report.

We Support you with company Compliance filling in Mumbai

  • We will be assigned you the dedicated CA s that will guide and manage your compliance Quires.
  • After reviewing the company’s financial statements, our team will finalize the company’s balance sheet and profit & loss accounts.
  • Our professional team will provide support for the Statutory audit of the company.
  • You can ask any quires or information from our experts.