tag:blogger.com,1999:blog-56868164025286510752024-03-15T15:12:21.990+05:30Corporate LawsAn online platform to get ready to use draft sample format of board resolution, ordinary resolution, special resolution and stepwise procedure under section of Companies act 2013. You can also download the Specimen Draft Template Format of various agreement deed contract for house rent, rental, sales, loan, lease, appointment, employment etc. We provide latest news and updates related to companies act 2013, income tax, GST, SEBI, stock market, income tax slab, return filing, online, e-filing. CS Ashish Jainhttp://www.blogger.com/profile/00427323626525507645noreply@blogger.comBlogger494125tag:blogger.com,1999:blog-5686816402528651075.post-62924845829119443682023-03-11T00:05:00.000+05:302023-03-11T00:05:36.726+05:30Sample Board Resolution Template<p></p><h1 style="text-align: center;"><b style="mso-bidi-font-weight: normal;"><span style="font-family: "Times New Roman", "serif"; line-height: 115%;"><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhTXVtHSSclrM5ix2DNY5OGIP_kgV31gGMLdFVnZ5oPzetYm2qLc7ZLcOfWNdD5GWcfcwLzy5KM5QmJY4x3jnbARi3cEJa5H8yabYyHj5gKchClDLGrWeW5cqw_LUE-UePDd6TmxCTAkZhKYoalAQ1yZUJGR2rCYHm5CEzP06yBdsLhHi17Z9eAHTaP/s290/BOARD-RESOLUTION-TEMPLATE.webp" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="174" data-original-width="290" height="192" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhTXVtHSSclrM5ix2DNY5OGIP_kgV31gGMLdFVnZ5oPzetYm2qLc7ZLcOfWNdD5GWcfcwLzy5KM5QmJY4x3jnbARi3cEJa5H8yabYyHj5gKchClDLGrWeW5cqw_LUE-UePDd6TmxCTAkZhKYoalAQ1yZUJGR2rCYHm5CEzP06yBdsLhHi17Z9eAHTaP/w320-h192/BOARD-RESOLUTION-TEMPLATE.webp" title="Sample Board Resolution Template" width="320" /></a><span><a name='more'></a></span></div></span></b></h1><h1 style="text-align: center;"><b style="mso-bidi-font-weight: normal;"><span style="font-family: "Times New Roman", "serif"; line-height: 115%;"><span style="color: red; font-size: x-large;">Sample
Board Resolution Template</span><span style="font-size: 14pt;"><o:p></o:p></span></span></b></h1>
<p class="MsoNormal" style="text-align: justify;"><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">If you are a member of
a board of directors, you know that board resolutions are essential documents
for making decisions and recording the actions taken by the board. A board
resolution is a written statement that outlines the decisions and actions of a
board meeting. It is a formal document that is used to make important decisions
and to document those decisions for future reference.<o:p></o:p></span></p>
<p class="MsoNormal" style="text-align: justify;"><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">In this article, we
will provide a comprehensive guide to board resolutions, including what they
are, why they are important, and how to create effective board resolution
templates.<o:p></o:p></span></p>
<div class="mbtTOC"> <button onclick="mbtToggle()">Table Of Contents</button> <ul id="mbtTOC"></ul> </div>
<h2 style="text-align: justify;"><b><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;"><span style="color: red;">What is a Board
Resolution?</span></span></b></h2>
<p class="MsoNormal" style="text-align: justify;"><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">A board resolution is a
written statement that outlines the decisions and actions taken by a board of
directors during a meeting. It is a legal document that records the decisions
made by the board and serves as evidence of the board's actions.<o:p></o:p></span></p>
<h2 style="text-align: justify;"><b><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;"><span style="color: red;">Why Are Board
Resolutions Important?</span></span></b></h2>
<p class="MsoNormal" style="text-align: justify;"><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">Board resolutions are
important because they provide a record of the decisions and actions taken by
the board. They are legal documents that can be used to hold board members
accountable for their actions and decisions.<o:p></o:p></span></p>
<p class="MsoNormal" style="text-align: justify;"><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">Additionally, board
resolutions are often required by law, and failure to follow proper procedures
for creating and documenting board resolutions can result in legal
consequences.<o:p></o:p></span></p>
<h2 style="text-align: justify;"><b><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;"><span style="color: red;">How to Create a Board
Resolution Template</span></span></b></h2>
<p class="MsoNormal" style="text-align: justify;"><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">Creating a board
resolution template is an essential task for any board of directors. It ensures
that the board is following proper procedures and that all necessary
information is included in the resolution.<o:p></o:p></span></p>
<p class="MsoNormal" style="text-align: justify;"><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">Here are the steps to
create an effective board resolution template:<o:p></o:p></span></p>
<p class="MsoNormal" style="text-align: justify;"><b><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">Step 1: Identify the
Purpose of the Resolution<o:p></o:p></span></b></p>
<p class="MsoNormal" style="text-align: justify;"><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">Before you start
drafting the resolution, it is essential to identify the purpose of the
resolution. This includes the problem or issue that the board is trying to
address and the outcome that the board hopes to achieve.<o:p></o:p></span></p>
<p class="MsoNormal" style="text-align: justify;"><b><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">Step 2: Determine the
Scope of the Resolution<o:p></o:p></span></b></p>
<p class="MsoNormal" style="text-align: justify;"><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">Once you have
identified the purpose of the resolution, it is essential to determine the
scope of the resolution. This includes the specific actions that the board will
take and any relevant deadlines.<o:p></o:p></span></p>
<p class="MsoNormal" style="text-align: justify;"><b><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">Step 3: Draft the
Resolution<o:p></o:p></span></b></p>
<p class="MsoNormal" style="text-align: justify;"><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">Now that you have
identified the purpose and scope of the resolution, you can start drafting the
resolution. The resolution should include the following elements:<o:p></o:p></span></p>
<ul style="margin-top: 0in;" type="disc">
<li class="MsoNormal" style="mso-list: l2 level1 lfo2; tab-stops: list .5in; text-align: justify;"><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">Heading: The heading should include
the name of the board and the date of the meeting.<o:p></o:p></span></li>
<li class="MsoNormal" style="mso-list: l2 level1 lfo2; tab-stops: list .5in; text-align: justify;"><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">Preamble: The preamble should state
the purpose of the resolution and provide a brief background on the issue
being addressed.<o:p></o:p></span></li>
<li class="MsoNormal" style="mso-list: l2 level1 lfo2; tab-stops: list .5in; text-align: justify;"><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">Resolve Clause: The resolve clause
should state the specific actions that the board will take to address the
issue.<o:p></o:p></span></li>
<li class="MsoNormal" style="mso-list: l2 level1 lfo2; tab-stops: list .5in; text-align: justify;"><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">Signature Block: The signature
block should include the names and signatures of the board members who
approved the resolution.<o:p></o:p></span></li>
</ul>
<p class="MsoNormal" style="text-align: justify;"><b><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">Step 4: Review and
Approve the Resolution<o:p></o:p></span></b></p>
<p class="MsoNormal" style="text-align: justify;"><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">Once the resolution has
been drafted, it should be reviewed by the board and approved at a meeting.<o:p></o:p></span></p>
<h2 style="text-align: justify;"><b><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;"><span style="color: red;">Best Practices for
Board Resolutions</span></span></b></h2>
<p class="MsoNormal" style="text-align: justify;"><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">In addition to
following the steps outlined above, there are several best practices that
boards should follow when creating and approving board resolutions. These
include:<o:p></o:p></span></p>
<ul style="margin-top: 0in;" type="disc">
<li class="MsoNormal" style="mso-list: l0 level1 lfo3; tab-stops: list .5in; text-align: justify;"><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">Follow proper procedures for
creating and approving board resolutions, including providing proper
notice of the meeting and ensuring that a quorum is present.<o:p></o:p></span></li>
<li class="MsoNormal" style="mso-list: l0 level1 lfo3; tab-stops: list .5in; text-align: justify;"><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">Keep detailed records of board
meetings and resolutions, including the minutes of the meeting and any
supporting documentation.<o:p></o:p></span></li>
<li class="MsoNormal" style="mso-list: l0 level1 lfo3; tab-stops: list .5in; text-align: justify;"><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">Ensure that the resolution is clear
and concise, and that all necessary information is included.<o:p></o:p></span></li>
<li class="MsoNormal" style="mso-list: l0 level1 lfo3; tab-stops: list .5in; text-align: justify;"><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">Use plain language that is easy to
understand, and avoid using legal jargon or technical terms.<o:p></o:p></span></li>
<li class="MsoNormal" style="mso-list: l0 level1 lfo3; tab-stops: list .5in; text-align: justify;"><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">Have the resolution reviewed by
legal counsel to ensure that it complies with all relevant laws and
regulations.<o:p></o:p></span></li>
</ul>
<h2 style="text-align: justify;"><b><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;"><span style="color: red;">Conclusion</span></span></b></h2>
<p class="MsoNormal" style="text-align: justify;"><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">Board resolutions are
essential documents for any board of directors. They provide a record of the
decisions and actions taken by the board and ensure that the board is following
proper procedures and complying with all relevant laws and regulations. By
following the steps and best practices outlined in this guide, you can create
effective board resolution templates that will help your board make informed decisions
and document those decisions for future reference.<o:p></o:p></span></p>
<p class="MsoNormal" style="text-align: justify;"><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">Remember, board
resolutions are legal documents, and failure to follow proper procedures for
creating and approving them can have serious consequences. It is essential to
take the time to create well-drafted resolutions that comply with all relevant
laws and regulations.</span></p>
<h2 style="text-align: justify;"><b style="mso-bidi-font-weight: normal;"><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;"><span style="color: red;">FAQs
:</span></span></b></h2>
<p class="MsoNormal" style="margin-left: 0.25in; mso-list: l1 level2 lfo1; text-align: justify; text-indent: -0.25in;"><!--[if !supportLists]--><b style="mso-bidi-font-weight: normal;"><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%; mso-fareast-font-family: "Times New Roman";"><span style="mso-list: Ignore;">1.<span style="font: 7pt "Times New Roman";"> </span></span></span></b><!--[endif]--><b style="mso-bidi-font-weight: normal;"><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">Can board resolutions be changed or
amended?<o:p></o:p></span></b></p>
<p class="MsoNormal" style="text-align: justify;"><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">Yes, board resolutions
can be changed or amended at a later meeting. However, it is essential to
follow proper procedures for doing so, including providing proper notice of the
meeting and ensuring that a quorum is present.<o:p></o:p></span></p>
<p class="MsoNormal" style="margin-left: 0.25in; mso-list: l1 level2 lfo1; text-align: justify; text-indent: -0.25in;"><!--[if !supportLists]--><b style="mso-bidi-font-weight: normal;"><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%; mso-fareast-font-family: "Times New Roman";"><span style="mso-list: Ignore;">2.<span style="font: 7pt "Times New Roman";"> </span></span></span></b><!--[endif]--><b style="mso-bidi-font-weight: normal;"><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">Are board resolutions legally
binding?<o:p></o:p></span></b></p>
<p class="MsoNormal" style="text-align: justify;"><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">Yes, board resolutions
are legally binding documents that can be used to hold board members
accountable for their actions and decisions.<o:p></o:p></span></p>
<p class="MsoNormal" style="margin-left: 0.25in; mso-list: l1 level2 lfo1; text-align: justify; text-indent: -0.25in;"><!--[if !supportLists]--><b style="mso-bidi-font-weight: normal;"><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%; mso-fareast-font-family: "Times New Roman";"><span style="mso-list: Ignore;">3.<span style="font: 7pt "Times New Roman";"> </span></span></span></b><!--[endif]--><b style="mso-bidi-font-weight: normal;"><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">Can board resolutions be challenged
in court?<o:p></o:p></span></b></p>
<p class="MsoNormal" style="text-align: justify;"><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">Yes, board resolutions
can be challenged in court if they are found to be in violation of any relevant
laws or regulations. It is essential to ensure that all board resolutions
comply with all relevant legal requirements.</span></p>
<p class="MsoNormal" style="text-align: justify;"><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">Here is a sample board
resolution template that follows the best practices outlined in the above article:<o:p></o:p></span></p>
<p class="MsoNormal" style="text-align: justify;"><b><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">BOARD RESOLUTION
REGARDING THE APPROVAL OF A NEW COMPANY POLICY</span></b><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;"><o:p></o:p></span></p>
<p class="MsoNormal" style="text-align: justify;"><b style="mso-bidi-font-weight: normal;"><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">WHEREAS,</span></b><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">
the board of directors has reviewed and discussed the proposed new company
policy regarding remote work;<o:p></o:p></span></p>
<p class="MsoNormal" style="text-align: justify;"><b style="mso-bidi-font-weight: normal;"><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">WHEREAS,</span></b><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">
the board of directors has determined that this new policy will benefit the
company and its employees by allowing for greater flexibility and work-life
balance;<o:p></o:p></span></p>
<p class="MsoNormal" style="text-align: justify;"><b style="mso-bidi-font-weight: normal;"><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">WHEREAS,</span></b><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">
the board of directors has reviewed and approved the proposed policy as
presented;<o:p></o:p></span></p>
<p class="MsoNormal" style="text-align: justify;"><b style="mso-bidi-font-weight: normal;"><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">NOW
THEREFORE, BE IT RESOLVED</span></b><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">, that the board of directors
hereby approves the adoption of the new company policy regarding remote work,
effective immediately;<o:p></o:p></span></p>
<p class="MsoNormal" style="text-align: justify;"><b style="mso-bidi-font-weight: normal;"><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">FURTHER
RESOLVED,</span></b><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;"> that the board of directors directs the CEO to
communicate the new policy to all employees and to ensure that it is
implemented consistently and fairly across the company;<o:p></o:p></span></p>
<p class="MsoNormal" style="text-align: justify;"><b style="mso-bidi-font-weight: normal;"><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">FURTHER
RESOLVED,</span></b><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;"> that the board of directors authorizes the CEO and
other appropriate officers to make any necessary adjustments or modifications
to the policy as needed to ensure compliance with all applicable laws and
regulations.<o:p></o:p></span></p>
<p class="MsoNormal" style="text-align: justify;"><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">This resolution is
hereby adopted by the unanimous vote of the board of directors on the date set
forth below.<o:p></o:p></span></p>
<p class="MsoNormal" style="text-align: justify;"><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">DATED: ________________<o:p></o:p></span></p>
<div align="center" class="MsoNormal" style="text-align: center;"><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">
<hr align="center" size="0" width="100%" />
</span></div>
<p class="MsoNormal" style="text-align: justify;"><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">[Name], Chairman of the
Board<o:p></o:p></span></p>
<div align="center" class="MsoNormal" style="text-align: center;"><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">
<hr align="center" size="0" width="100%" />
</span></div>
<p class="MsoNormal" style="text-align: justify;"><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">[Name], Secretary of
the Board</span></p><p></p>
<script>mbtTOC();</script>
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186 of Companies Act 2013</span></b></span></h1>
<p class="MsoNormal" style="text-align: justify;"><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">As a business owner or
investor, it is crucial to understand the legal framework that governs
corporate affairs. One such regulation is Section 186 of the Companies Act
2013. This section lays down guidelines for the investment and loan activities
of companies. In this article, we will explore the various provisions of
Section 186 and their implications for businesses.<o:p></o:p></span></p>
<div class="mbtTOC"> <button onclick="mbtToggle()">Table Of Contents</button> <ul id="mbtTOC"></ul> </div>
<h2 style="text-align: justify;"><b><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">1. What is Section 186
of Companies Act 2013?</span></b></h2>
<p class="MsoNormal" style="text-align: justify;"><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">Section 186 of the
Companies Act 2013 deals with the investment and loan activities of companies.
The section aims to prevent companies from indulging in risky or fraudulent
transactions that could harm their stakeholders, including shareholders,
creditors, and employees. The section applies to all types of companies,
including public, private, and government-owned companies.<o:p></o:p></span></p>
<h2 style="text-align: justify;"><b><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">2. What are the
provisions of Section 186?</span></b></h2>
<p class="MsoNormal" style="text-align: justify;"><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">Section 186 lays down
several provisions that companies must comply with while making investments or
giving loans. These provisions are as follows:<o:p></o:p></span></p>
<p class="MsoNormal" style="text-align: justify;"><b><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">i. Prohibition on
investment through more than two layers of investment companies<o:p></o:p></span></b></p>
<p class="MsoNormal" style="text-align: justify;"><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">According to Section
186(1), a company cannot make an investment through more than two layers of
investment companies. In other words, if a company wants to invest in another
company, it must do so directly or through a maximum of two layers of
intermediary companies. This provision is aimed at curbing the practice of
creating complex structures of investment companies that can be used for money
laundering or tax evasion.<o:p></o:p></span></p>
<p class="MsoNormal" style="text-align: justify;"><b><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">ii. Restriction on
loans to directors and related parties<o:p></o:p></span></b></p>
<p class="MsoNormal" style="text-align: justify;"><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">Section 186(2)
prohibits companies from giving loans, guarantees, or securities to their
directors or related parties. Related parties include the spouse, children, and
relatives of directors, as well as companies in which the directors have a
significant influence or control. However, there are exceptions to this rule,
such as loans given to employees as part of their employment contract.<o:p></o:p></span></p>
<p class="MsoNormal" style="text-align: justify;"><b><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">iii. Disclosure
requirements for companies making investments or giving loans<o:p></o:p></span></b></p>
<p class="MsoNormal" style="text-align: justify;"><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">Section 186(4) requires
companies to disclose in their financial statements the details of investments
made or loans given by them. The disclosure must include the nature and extent
of the investments or loans, the purpose of the transaction, and the benefits
derived from it. This provision aims to enhance transparency and accountability
in corporate affairs.<o:p></o:p></span></p>
<p class="MsoNormal" style="text-align: justify;"><b><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">iv. Approval
requirements for investments and loans<o:p></o:p></span></b></p>
<p class="MsoNormal" style="text-align: justify;"><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">Section 186(3) requires
companies to obtain prior approval from their board of directors for making
investments or giving loans. In case the value of the investment or loan
exceeds prescribed limits, the approval of shareholders may also be required.
This provision aims to ensure that investment and loan decisions are made after
due consideration and approval by the appropriate authorities.<o:p></o:p></span></p>
<h2 style="text-align: justify;"><b><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">3. What is the impact
of Section 186 on businesses?</span></b></h2>
<p class="MsoNormal" style="text-align: justify;"><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">Compliance with Section
186 has several implications for businesses. Some of them are as follows:<o:p></o:p></span></p>
<p class="MsoNormal" style="text-align: justify;"><b><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">i. Transparency and
accountability<o:p></o:p></span></b></p>
<p class="MsoNormal" style="text-align: justify;"><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">Section 186 enhances
transparency and accountability in corporate affairs by requiring companies to
disclose their investments and loans in their financial statements. This
ensures that stakeholders have access to relevant information that enables them
to make informed decisions. Furthermore, the approval requirements for
investments and loans ensure that the decision-making process is transparent
and accountable.<o:p></o:p></span></p>
<p class="MsoNormal" style="text-align: justify;"><b><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">ii. Risk management<o:p></o:p></span></b></p>
<p class="MsoNormal" style="text-align: justify;"><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">Section 186 requires
companies to conduct due diligence before making investments or giving loans.
This ensures that companies are aware of the risks associated with such
transactions and can take appropriate measures to mitigate them. By curbing the
practice of investing through multiple layers of intermediary companies, the
section also prevents companies from getting involved in risky or fraudulent
transactions that can harm their reputation and financial health.<o:p></o:p></span></p>
<p class="MsoNormal" style="text-align: justify;"><b><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">iii. Compliance
requirements<o:p></o:p></span></b></p>
<p class="MsoNormal" style="text-align: justify;"><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">Compliance with Section
186 requires companies to maintain proper records of their investments and
loans, as well as the approvals obtained for them. This ensures that companies
are able to demonstrate their compliance with the section in case of any legal
or regulatory scrutiny. Non-compliance with the section can result in penalties
or legal action, which can harm the company's reputation and financial health.<o:p></o:p></span></p>
<h2 style="text-align: justify;"><b><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">4. How to ensure
compliance with Section 186?</span></b></h2>
<p class="MsoNormal" style="text-align: justify;"><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">To ensure compliance
with Section 186, companies can take the following measures:<o:p></o:p></span></p>
<p class="MsoNormal" style="text-align: justify;"><b><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">i. Conducting due
diligence<o:p></o:p></span></b></p>
<p class="MsoNormal" style="text-align: justify;"><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">Before making any
investment or giving any loan, companies should conduct due diligence to assess
the risks associated with the transaction. This includes analyzing the
financial health and reputation of the target company, as well as its industry
and market trends.<o:p></o:p></span></p>
<p class="MsoNormal" style="text-align: justify;"><b><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">ii. Maintaining proper
records<o:p></o:p></span></b></p>
<p class="MsoNormal" style="text-align: justify;"><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">Companies should
maintain proper records of their investments and loans, including the approvals
obtained for them. This includes keeping track of the nature and extent of the
investments or loans, the purpose of the transaction, and the benefits derived
from it.<o:p></o:p></span></p>
<p class="MsoNormal" style="text-align: justify;"><b><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">iii. Seeking expert
advice<o:p></o:p></span></b></p>
<p class="MsoNormal" style="text-align: justify;"><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">Companies can seek
expert advice from legal and financial professionals to ensure compliance with
Section 186. This can help companies navigate the complex legal and regulatory
framework and avoid any non-compliance issues.<o:p></o:p></span></p>
<h2 style="text-align: justify;"><b><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">5. Conclusion</span></b></h2>
<p class="MsoNormal" style="text-align: justify;"><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">Section 186 of the
Companies Act 2013 lays down guidelines for the investment and loan activities
of companies. Compliance with the section is essential for ensuring
transparency and accountability in corporate affairs, as well as for mitigating
risks and complying with legal and regulatory requirements. By conducting due
diligence, maintaining proper records, and seeking expert advice, companies can
ensure compliance with the section and avoid any legal or reputational harm.<o:p></o:p></span></p>
<h2 style="text-align: justify;"><b><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">6. FAQs</span></b></h2>
<p class="MsoNormal" style="margin-left: 0.25in; mso-list: l0 level2 lfo1; text-align: justify; text-indent: -0.25in;"><!--[if !supportLists]--><b style="mso-bidi-font-weight: normal;"><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%; mso-fareast-font-family: "Times New Roman";"><span style="mso-list: Ignore;">i.<span style="font: 7pt "Times New Roman";"> </span></span></span></b><!--[endif]--><b style="mso-bidi-font-weight: normal;"><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">Does Section 186 apply to all types
of companies?<o:p></o:p></span></b></p>
<p class="MsoNormal" style="margin-left: 0.25in; tab-stops: list .25in; text-align: justify; text-indent: -0.25in;"><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;"><span style="mso-tab-count: 1;"> </span>Yes,
Section 186 applies to all types of companies, including public, private, and
government-owned companies.<o:p></o:p></span></p>
<p class="MsoNormal" style="margin-left: 0.25in; mso-list: l0 level2 lfo1; text-align: justify; text-indent: -0.25in;"><!--[if !supportLists]--><b style="mso-bidi-font-weight: normal;"><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%; mso-fareast-font-family: "Times New Roman";"><span style="mso-list: Ignore;">ii.<span style="font: 7pt "Times New Roman";"> </span></span></span></b><b style="mso-bidi-font-weight: normal;"><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">What is the purpose of the
prohibition on investing through more than two layers of investment companies?<o:p></o:p></span></b></p>
<p class="MsoNormal" style="margin-left: 0.25in; tab-stops: list .25in; text-align: justify; text-indent: -0.25in;"><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;"><span style="mso-tab-count: 1;"> </span>The
prohibition on investing through more than two layers of investment companies
is aimed at curbing the practice of creating complex structures of investment
companies that can be used for money laundering or tax evasion.<o:p></o:p></span></p>
<p class="MsoNormal" style="margin-left: 0.25in; mso-list: l0 level2 lfo1; text-align: justify; text-indent: -0.25in;"><!--[if !supportLists]--><b style="mso-bidi-font-weight: normal;"><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%; mso-fareast-font-family: "Times New Roman";"><span style="mso-list: Ignore;">iii.<span style="font: 7pt "Times New Roman";"> </span></span></span></b><!--[endif]--><b style="mso-bidi-font-weight: normal;"><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">Are there any exemptions from the
requirements of Section 186?<o:p></o:p></span></b></p>
<p class="MsoNormal" style="margin-left: 0.25in; tab-stops: list .25in; text-align: justify; text-indent: -0.25in;"><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;"><span style="mso-tab-count: 1;"> </span>Yes,
there are some exemptions from the requirements of Section 186. For example,
companies engaged in the business of providing loans or investments are
exempted from the section's provisions. Additionally, certain transactions,
such as those between holding and subsidiary companies or between government
companies, are also exempted.<o:p></o:p></span></p>
<p class="MsoNormal" style="margin-left: 0.25in; mso-list: l0 level2 lfo1; text-align: justify; text-indent: -0.25in;"><!--[if !supportLists]--><b style="mso-bidi-font-weight: normal;"><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%; mso-fareast-font-family: "Times New Roman";"><span style="mso-list: Ignore;">iv.<span style="font: 7pt "Times New Roman";"> </span></span></span></b><!--[endif]--><b style="mso-bidi-font-weight: normal;"><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">Can companies give loans to their
directors under Section 186?<o:p></o:p></span></b></p>
<p class="MsoNormal" style="margin-left: 0.25in; tab-stops: list .25in; text-align: justify; text-indent: -0.25in;"><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;"><span style="mso-tab-count: 1;"> </span>Yes,
companies can give loans to their directors as per the provisions of Section
186, subject to certain conditions. The loan should be given as part of the
director's employment contract or to meet any expenditure incurred in the
ordinary course of business.<o:p></o:p></span></p>
<p class="MsoNormal" style="margin-left: 0.25in; mso-list: l0 level2 lfo1; text-align: justify; text-indent: -0.25in;"><!--[if !supportLists]--><b style="mso-bidi-font-weight: normal;"><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%; mso-fareast-font-family: "Times New Roman";"><span style="mso-list: Ignore;">v.<span style="font: 7pt "Times New Roman";"> </span></span></span></b><!--[endif]--><b style="mso-bidi-font-weight: normal;"><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">How does Section 186 impact
corporate governance?<o:p></o:p></span></b></p>
<p class="MsoNormal" style="margin-left: 0.25in; tab-stops: list .25in; text-align: justify; text-indent: -0.25in;"><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;"><span style="mso-tab-count: 1;"> </span>Section
186 plays an important role in promoting transparency and accountability in
corporate governance by requiring companies to disclose their investments and
loans in their financial statements and by ensuring that the decision-making
process is transparent and accountable.<o:p></o:p></span></p>
<p class="MsoNormal" style="margin-left: 0.25in; mso-list: l0 level2 lfo1; text-align: justify; text-indent: -0.25in;"><!--[if !supportLists]--><b style="mso-bidi-font-weight: normal;"><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%; mso-fareast-font-family: "Times New Roman";"><span style="mso-list: Ignore;">vi.<span style="font: 7pt "Times New Roman";"> </span></span></span></b><!--[endif]--><b style="mso-bidi-font-weight: normal;"><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">How can shareholders use the
information provided under Section 186?<o:p></o:p></span></b></p>
<p class="MsoNormal" style="margin-left: 0.25in; tab-stops: list .25in; text-align: justify; text-indent: -0.25in;"><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;"><span style="mso-tab-count: 1;"> </span>Shareholders
can use the information provided under Section 186 to assess the company's
financial health, risk management practices, and compliance with legal and regulatory
requirements. This information can help shareholders make informed decisions
about their investments in the company.<o:p></o:p></span></p>
<p class="MsoNormal" style="margin-left: 22.5pt; mso-list: l0 level2 lfo1; text-align: justify; text-indent: -22.5pt;"><!--[if !supportLists]--><b style="mso-bidi-font-weight: normal;"><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%; mso-fareast-font-family: "Times New Roman";"><span style="mso-list: Ignore;">vii.<span style="font: 7pt "Times New Roman";"> </span></span></span></b><!--[endif]--><b style="mso-bidi-font-weight: normal;"><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">What is the impact of
non-compliance with Section 186 on stakeholders?<o:p></o:p></span></b></p>
<p class="MsoNormal" style="margin-left: 0.25in; tab-stops: list .25in; text-align: justify; text-indent: -0.25in;"><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;"><span style="mso-tab-count: 1;"> </span>Non-compliance
with Section 186 can have a negative impact on stakeholders, such as
shareholders, creditors, and employees. It can harm the company's reputation
and financial health, and can also lead to legal and regulatory penalties. This
can result in financial losses for stakeholders and can erode their trust in
the company.<o:p></o:p></span></p>
<script>mbtTOC();</script>
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III of Companies Act 2013</span></span></b></h1>
<p class="MsoNormal" style="text-align: justify;"><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">As per the Companies
Act 2013, Schedule III defines the format of financial statements and
disclosures required to be made by companies. The aim of Schedule III is to
ensure transparency and accountability in the financial reporting of companies,
thus providing investors with accurate information to make informed decisions.
In this article, we'll provide a comprehensive guide to Schedule III of the
Companies Act 2013, covering its significance, applicability, and requirements.<o:p></o:p></span></p>
<div class="mbtTOC"> <button onclick="mbtToggle()">Table Of Contents</button> <ul id="mbtTOC"></ul> </div>
<h2 style="text-align: justify;"><b><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">1. What is Schedule III
of the Companies Act 2013?</span></b></h2>
<p class="MsoNormal" style="text-align: justify;"><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">Schedule III of the
Companies Act 2013 outlines the requirements for the format and contents of
financial statements to be prepared by companies registered under the Act. It
provides guidelines on the presentation of the Balance Sheet, Profit and Loss
Account, Cash Flow Statement, and Notes to Accounts. The Schedule lays down the
accounting standards and principles that companies should follow to ensure
transparency and uniformity in the preparation of financial statements.<o:p></o:p></span></p>
<h2 style="text-align: justify;"><b><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">2. Significance of
Schedule III</span></b></h2>
<p class="MsoNormal" style="text-align: justify;"><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">Schedule III plays a
crucial role in enhancing the credibility and reliability of financial
statements. It ensures that the financial statements are prepared in a
consistent manner, and investors have access to accurate information for making
informed investment decisions. The Schedule also helps in reducing the scope
for manipulation or misrepresentation of financial data by companies. Moreover,
adherence to Schedule III enables companies to comply with the requirements of
the Income Tax Act, 1961, and other regulatory bodies.<o:p></o:p></span></p>
<h2 style="text-align: justify;"><b><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">3. Applicability of
Schedule III</span></b></h2>
<p class="MsoNormal" style="text-align: justify;"><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">Schedule III of the
Companies Act 2013 applies to all companies incorporated under the Act, whether
public or private. The Schedule is mandatory for all companies, except for the
following:<o:p></o:p></span></p>
<ul style="margin-top: 0in;" type="disc">
<li class="MsoNormal" style="mso-list: l3 level1 lfo2; tab-stops: list .5in; text-align: justify;"><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">Companies engaged in the business
of banking, insurance, and electricity generation, transmission or
distribution.<o:p></o:p></span></li>
<li class="MsoNormal" style="mso-list: l3 level1 lfo2; tab-stops: list .5in; text-align: justify;"><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">Companies whose shares or
debentures are listed on a stock exchange outside India.<o:p></o:p></span></li>
<li class="MsoNormal" style="mso-list: l3 level1 lfo2; tab-stops: list .5in; text-align: justify;"><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">Companies having a net worth of
less than Rs. 1 crore or turnover of less than Rs. 10 crores.<o:p></o:p></span></li>
</ul>
<h2 style="text-align: justify;"><b><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">4. Components of
Schedule III</span></b></h2>
<p class="MsoNormal" style="text-align: justify;"><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">The Schedule requires
companies to prepare the following financial statements:<o:p></o:p></span></p>
<p class="MsoNormal" style="text-align: justify;"><b><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">Balance Sheet<o:p></o:p></span></b></p>
<p class="MsoNormal" style="text-align: justify;"><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">The Balance Sheet
provides a snapshot of a company's financial position at a particular point in
time. It presents the assets, liabilities, and equity of the company. The
Schedule provides specific instructions on the format and presentation of the
Balance Sheet, including the classification of assets and liabilities.<o:p></o:p></span></p>
<p class="MsoNormal" style="text-align: justify;"><b><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">Profit and Loss Account<o:p></o:p></span></b></p>
<p class="MsoNormal" style="text-align: justify;"><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">The Profit and Loss
Account summarizes a company's revenue, expenses, and net profit or loss for a
particular period. The Schedule provides guidelines for the format and
presentation of the Profit and Loss Account, including the treatment of various
income and expense items.<o:p></o:p></span></p>
<p class="MsoNormal" style="text-align: justify;"><b><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">Cash Flow Statement<o:p></o:p></span></b></p>
<p class="MsoNormal" style="text-align: justify;"><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">The Cash Flow Statement
shows the inflows and outflows of cash and cash equivalents during a particular
period. The Schedule provides specific instructions on the format and
presentation of the Cash Flow Statement, including the classification of cash
flows into operating, investing, and financing activities.<o:p></o:p></span></p>
<p class="MsoNormal" style="text-align: justify;"><b><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">Notes to Accounts<o:p></o:p></span></b></p>
<p class="MsoNormal" style="text-align: justify;"><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">The Notes to Accounts
provide additional information and explanations regarding the financial
statements. The Schedule provides guidelines for the presentation and disclosure
of various items in the Notes to Accounts, including accounting policies,
contingent liabilities, and related-party transactions.<o:p></o:p></span></p>
<h2 style="text-align: justify;"><b><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">5. Format and
Presentation of Financial Statements</span></b></h2>
<p class="MsoNormal" style="text-align: justify;"><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">The Schedule provides
detailed instructions on the format and presentation of financial statements to
be followed by companies. These instructions cover both general and specific
guidelines for preparing financial statements.<o:p></o:p></span></p>
<p class="MsoNormal" style="text-align: justify;"><b><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">General Instructions<o:p></o:p></span></b></p>
<p class="MsoNormal" style="text-align: justify;"><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">The general
instructions cover the basic requirements for the preparation of financial
statements, such as the use of accrual basis of accounting, compliance with
accounting standards, and consistency in the presentation of financial
statements.<o:p></o:p></span></p>
<p class="MsoNormal" style="text-align: justify;"><b><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">Specific Instructions
for Balance Sheet<o:p></o:p></span></b></p>
<p class="MsoNormal" style="text-align: justify;"><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">The Schedule provides
specific instructions for the preparation of the Balance Sheet, such as the
classification of assets and liabilities, valuation of assets and liabilities,
and disclosure of contingent liabilities.<o:p></o:p></span></p>
<p class="MsoNormal" style="text-align: justify;"><b><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">Specific Instructions
for Profit and Loss Account<o:p></o:p></span></b></p>
<p class="MsoNormal" style="text-align: justify;"><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">The Schedule provides
specific instructions for the preparation of the Profit and Loss Account, such
as the treatment of various income and expense items, and the disclosure of
exceptional items and prior period items.<o:p></o:p></span></p>
<p class="MsoNormal" style="text-align: justify;"><b><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">Specific Instructions
for Cash Flow Statement<o:p></o:p></span></b></p>
<p class="MsoNormal" style="text-align: justify;"><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">The Schedule provides
specific instructions for the preparation of the Cash Flow Statement, such as
the classification of cash flows into operating, investing, and financing
activities, and the disclosure of non-cash transactions.<o:p></o:p></span></p>
<h2 style="text-align: justify;"><b><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">6. Disclosure
Requirements under Schedule III</span></b></h2>
<p class="MsoNormal" style="text-align: justify;"><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">In addition to the
format and presentation of financial statements, Schedule III also lays down
disclosure requirements that companies need to comply with. These requirements
include the disclosure of accounting policies, contingent liabilities, related-party
transactions, and other significant items that affect the financial position of
the company.<o:p></o:p></span></p>
<h2 style="text-align: justify;"><b><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">7. Non-Applicability of
Schedule III</span></b></h2>
<p class="MsoNormal" style="text-align: justify;"><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">As mentioned earlier,
Schedule III is not applicable to companies engaged in banking, insurance, and
electricity generation, transmission or distribution. It is also not applicable
to companies whose shares or debentures are listed on a stock exchange outside
India, and companies having a net worth of less than Rs. 1 crore or turnover of
less than Rs. 10 crores.<o:p></o:p></span></p>
<h2 style="text-align: justify;"><b style="mso-bidi-font-weight: normal;"><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">8.
How to prepare financial statements under Schedule III?</span></b></h2>
<p class="MsoNormal" style="text-align: justify;"><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">The following steps
must be followed for the preparation of financial statements under Schedule
III:<o:p></o:p></span></p>
<ul style="margin-top: 0in;" type="disc">
<li class="MsoNormal" style="mso-list: l1 level1 lfo5; tab-stops: list .5in; text-align: justify;"><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">Identify the accounting policies to
be followed<o:p></o:p></span></li>
<li class="MsoNormal" style="mso-list: l1 level1 lfo5; tab-stops: list .5in; text-align: justify;"><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">Prepare the trial balance<o:p></o:p></span></li>
<li class="MsoNormal" style="mso-list: l1 level1 lfo5; tab-stops: list .5in; text-align: justify;"><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">Make necessary adjustments<o:p></o:p></span></li>
<li class="MsoNormal" style="mso-list: l1 level1 lfo5; tab-stops: list .5in; text-align: justify;"><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">Prepare the financial statements<o:p></o:p></span></li>
<li class="MsoNormal" style="mso-list: l1 level1 lfo5; tab-stops: list .5in; text-align: justify;"><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">Ensure compliance with the
requirements of the Companies Act 2013 and accounting standards prescribed
by the ICAI<o:p></o:p></span></li>
</ul>
<h2 style="text-align: justify;"><b style="mso-bidi-font-weight: normal;"><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">9.
What are the common mistakes to avoid while preparing financial statements
under Schedule III?</span></b></h2>
<p class="MsoNormal" style="text-align: justify;"><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">Some common mistakes to
avoid while preparing financial statements under Schedule III include the
following:<o:p></o:p></span></p>
<ul style="margin-top: 0in;" type="disc">
<li class="MsoNormal" style="mso-list: l1 level1 lfo5; tab-stops: list .5in; text-align: justify;"><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">Not following the accounting
policies consistently<o:p></o:p></span></li>
<li class="MsoNormal" style="mso-list: l1 level1 lfo5; tab-stops: list .5in; text-align: justify;"><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">Not disclosing all the required
information in the notes to accounts<o:p></o:p></span></li>
<li class="MsoNormal" style="mso-list: l1 level1 lfo5; tab-stops: list .5in; text-align: justify;"><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">Not complying with the accounting
standards prescribed by the ICAI<o:p></o:p></span></li>
<li class="MsoNormal" style="mso-list: l1 level1 lfo5; tab-stops: list .5in; text-align: justify;"><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">Not properly classifying the items
in the financial statements<o:p></o:p></span></li>
</ul>
<h2 style="text-align: justify;"><b><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">10. Conclusion</span></b></h2>
<p class="MsoNormal" style="text-align: justify;"><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">Schedule III of the
Companies Act 2013 is a critical component of financial reporting for companies
registered under the Act. It provides guidelines for the format and contents of
financial statements, which are essential for ensuring transparency and accountability
in the financial reporting of companies. Compliance with Schedule III enables
companies to comply with regulatory requirements and provides investors with
accurate information to make informed investment decisions.<o:p></o:p></span></p>
<h2 style="text-align: justify;"><b><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">11. FAQs</span></b></h2>
<p class="MsoNormal" style="margin-left: 0.25in; mso-list: l4 level1 lfo3; tab-stops: list .25in; text-align: justify; text-indent: -0.25in;"><!--[if !supportLists]--><b style="mso-bidi-font-weight: normal;"><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%; mso-fareast-font-family: "Times New Roman";"><span style="mso-list: Ignore;">1.<span style="font: 7pt "Times New Roman";">
</span></span></span></b><!--[endif]--><b style="mso-bidi-font-weight: normal;"><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">What
is Schedule III of the Companies Act 2013?<o:p></o:p></span></b></p>
<p class="MsoNormal" style="margin-left: 0.25in; tab-stops: list .25in; text-align: justify; text-indent: -0.25in;"><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;"><span style="mso-tab-count: 1;"> </span>Schedule
III of the Companies Act 2013 defines the format and contents of financial
statements to be prepared by companies registered under the Act.<o:p></o:p></span></p>
<p class="MsoNormal" style="margin-left: 0.25in; mso-list: l2 level1 lfo4; tab-stops: list .25in; text-align: justify; text-indent: -0.25in;"><!--[if !supportLists]--><b style="mso-bidi-font-weight: normal;"><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%; mso-fareast-font-family: "Times New Roman";"><span style="mso-list: Ignore;">2.<span style="font: 7pt "Times New Roman";">
</span></span></span></b><!--[endif]--><b style="mso-bidi-font-weight: normal;"><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">Who
is required to comply with Schedule III?<o:p></o:p></span></b></p>
<p class="MsoNormal" style="margin-left: 0.25in; tab-stops: list .25in; text-align: justify; text-indent: -0.25in;"><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;"><span style="mso-tab-count: 1;"> </span>All
companies incorporated under the Companies Act 2013, except for those engaged
in banking, insurance, and electricity generation, transmission or
distribution, are required to comply with Schedule III.<o:p></o:p></span></p>
<p class="MsoNormal" style="margin-left: 0.25in; mso-list: l2 level1 lfo4; tab-stops: list .25in; text-align: justify; text-indent: -0.25in;"><!--[if !supportLists]--><b style="mso-bidi-font-weight: normal;"><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%; mso-fareast-font-family: "Times New Roman";"><span style="mso-list: Ignore;">3.<span style="font: 7pt "Times New Roman";"> </span></span></span></b><b style="mso-bidi-font-weight: normal;"><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">Who
is responsible for the preparation of financial statements under Schedule III?<o:p></o:p></span></b></p>
<p class="MsoNormal" style="margin-left: 0.25in; tab-stops: list .25in; text-align: justify; text-indent: -0.25in;"><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;"><span style="mso-tab-count: 1;"> </span>The
board of directors of the company is responsible for the preparation of
financial statements under Schedule III. They must ensure that the financial
statements are prepared in accordance with the requirements of the Companies
Act 2013 and the accounting standards prescribed by the Institute of Chartered
Accountants of India (ICAI).<o:p></o:p></span></p>
<p class="MsoNormal" style="margin-left: 0.25in; mso-list: l2 level1 lfo4; tab-stops: list .25in; text-align: justify; text-indent: -0.25in;"><!--[if !supportLists]--><b><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%; mso-fareast-font-family: "Times New Roman";"><span style="mso-list: Ignore;">4.<span style="font: 7pt "Times New Roman";"> </span></span></span></b><!--[endif]--><b style="mso-bidi-font-weight: normal;"><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">W<span style="mso-bidi-font-weight: bold;">hat are the financial statements prescribed under Schedule III?<o:p></o:p></span></span></b></p>
<p class="MsoNormal" style="margin-left: 0.25in; tab-stops: list .25in; text-align: justify; text-indent: -0.25in;"><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;"><span style="mso-tab-count: 1;"> </span>Schedule
III prescribes the following financial statements:<o:p></o:p></span></p>
<p class="MsoNormal" style="margin-left: 0.25in; mso-list: l0 level1 lfo6; tab-stops: list .25in; text-align: justify; text-indent: 0in;"><!--[if !supportLists]--><span style="font-family: Symbol; font-size: 10pt; line-height: 115%; mso-bidi-font-family: Symbol; mso-bidi-font-size: 14.0pt; mso-fareast-font-family: Symbol;"><span style="mso-list: Ignore;">·<span style="font: 7pt "Times New Roman";">
</span></span></span><!--[endif]--><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">Balance Sheet<o:p></o:p></span></p>
<p class="MsoNormal" style="margin-left: 0.25in; mso-list: l0 level1 lfo6; tab-stops: list .25in; text-align: justify; text-indent: 0in;"><!--[if !supportLists]--><span style="font-family: Symbol; font-size: 10pt; line-height: 115%; mso-bidi-font-family: Symbol; mso-bidi-font-size: 14.0pt; mso-fareast-font-family: Symbol;"><span style="mso-list: Ignore;">·<span style="font: 7pt "Times New Roman";">
</span></span></span><!--[endif]--><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">Profit and Loss Account<o:p></o:p></span></p>
<p class="MsoNormal" style="margin-left: 0.25in; mso-list: l0 level1 lfo6; tab-stops: list .25in; text-align: justify; text-indent: 0in;"><!--[if !supportLists]--><span style="font-family: Symbol; font-size: 10pt; line-height: 115%; mso-bidi-font-family: Symbol; mso-bidi-font-size: 14.0pt; mso-fareast-font-family: Symbol;"><span style="mso-list: Ignore;">·<span style="font: 7pt "Times New Roman";">
</span></span></span><!--[endif]--><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">Cash Flow Statement<o:p></o:p></span></p>
<p class="MsoNormal" style="margin-left: 0.25in; mso-list: l0 level1 lfo6; tab-stops: list .25in; text-align: justify; text-indent: 0in;"><!--[if !supportLists]--><span style="font-family: Symbol; font-size: 10pt; line-height: 115%; mso-bidi-font-family: Symbol; mso-bidi-font-size: 14.0pt; mso-fareast-font-family: Symbol;"><span style="mso-list: Ignore;">·<span style="font: 7pt "Times New Roman";">
</span></span></span><!--[endif]--><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">Notes to Accounts</span></p><p></p>
<script>mbtTOC();</script>
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185 of Companies Act 2013 | Applicability and Exemptions </span></span></b></h1>
<p class="MsoNormal" style="text-align: justify;"><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">As a business owner or
investor, it is essential to understand the various legal regulations and
requirements that govern the operations of companies. One such critical
provision is Section 185 of the Companies Act 2013, which outlines the rules
and limitations for loans and investments made by a company to its directors or
related parties. In this article, we will delve into the intricacies of Section
185 and its implications for businesses and stakeholders.<o:p></o:p></span></p>
<div class="mbtTOC"><button onclick="mbtToggle()">Table Of Contents</button> <ul id="mbtTOC"></ul> </div>
<h2 style="text-align: justify;"><b><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">Introduction to Section
185 of Companies Act 2013</span></b></h2>
<p class="MsoNormal" style="text-align: justify;"><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">Section 185 of the
Companies Act 2013 is a provision that regulates the loans and investments made
by a company to its directors or related parties. The section was introduced to
prevent the misuse of company funds and assets by directors and related parties,
thereby safeguarding the interests of shareholders and stakeholders.<o:p></o:p></span></p>
<p class="MsoNormal" style="text-align: justify;"><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">The section applies to
all types of companies registered under the Companies Act 2013, including
private and public companies. It also covers loans and investments made by
subsidiaries or associates of a company to their directors or related parties.<o:p></o:p></span></p>
<h2 style="text-align: justify;"><b><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">Key Provisions of
Section 185</span></b></h2>
<h2 style="text-align: justify;"><b><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">Definition of Related
Party</span></b></h2>
<p class="MsoNormal" style="text-align: justify;"><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">Section 185 defines
related parties as individuals or entities that are connected to the company in
one or more of the following ways:<o:p></o:p></span></p>
<ul style="margin-top: 0in;" type="disc">
<li class="MsoNormal" style="mso-list: l6 level1 lfo2; tab-stops: list .5in; text-align: justify;"><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">Directors or their relatives<o:p></o:p></span></li>
<li class="MsoNormal" style="mso-list: l6 level1 lfo2; tab-stops: list .5in; text-align: justify;"><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">Key managerial personnel or their
relatives<o:p></o:p></span></li>
<li class="MsoNormal" style="mso-list: l6 level1 lfo2; tab-stops: list .5in; text-align: justify;"><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">Companies in which the directors,
key managerial personnel, or their relatives hold more than 2% of the
share capital<o:p></o:p></span></li>
<li class="MsoNormal" style="mso-list: l6 level1 lfo2; tab-stops: list .5in; text-align: justify;"><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">Any firm or entity in which a
director or key managerial personnel is a partner or a member<o:p></o:p></span></li>
<li class="MsoNormal" style="mso-list: l6 level1 lfo2; tab-stops: list .5in; text-align: justify;"><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">Any firm or entity in which a
director, key managerial personnel, or their relatives are directors or
hold key managerial positions<o:p></o:p></span></li>
</ul>
<h2 style="text-align: justify;"><b><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">Limits on Loans and
Investments under </span></b><b style="mso-bidi-font-weight: normal;"><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">Section
185<span style="mso-bidi-font-weight: bold;"><o:p></o:p></span></span></b></h2>
<p class="MsoNormal" style="text-align: justify;"><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">Section 185 imposes
certain restrictions on the loans and investments made by a company to its
directors or related parties. The key provisions are as follows:<o:p></o:p></span></p>
<ul style="margin-top: 0in;" type="disc">
<li class="MsoNormal" style="mso-list: l4 level1 lfo3; tab-stops: list .5in; text-align: justify;"><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">A company cannot provide a loan,
guarantee, or security for any loan to a director or related party.<o:p></o:p></span></li>
<li class="MsoNormal" style="mso-list: l4 level1 lfo3; tab-stops: list .5in; text-align: justify;"><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">A company cannot make any
investment through more than two layers of investment companies.<o:p></o:p></span></li>
<li class="MsoNormal" style="mso-list: l4 level1 lfo3; tab-stops: list .5in; text-align: justify;"><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">A company can provide a loan,
guarantee, or security for any loan to a related party only if it meets
certain conditions, such as obtaining prior approval from the board of
directors and passing a special resolution at a general meeting of
shareholders.<o:p></o:p></span></li>
</ul>
<h2 style="text-align: justify;"><b><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">Exceptions to the </span></b><b style="mso-bidi-font-weight: normal;"><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">Section 185<span style="mso-bidi-font-weight: bold;"><o:p></o:p></span></span></b></h2>
<p class="MsoNormal" style="text-align: justify;"><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">Section 185 provides
some exceptions to the above restrictions. For example, a company can provide a
loan, guarantee, or security for any loan to a managing or whole-time director,
subject to certain conditions such as obtaining prior approval from the board
of directors and passing a special resolution at a general meeting of
shareholders.<o:p></o:p></span></p>
<h2 style="text-align: justify;"><b><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">Impact of Section 185 on
Director - Related Transactions</span></b></h2>
<p class="MsoNormal" style="text-align: justify;"><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">Section 185 has
significant implications for transactions between a company and its directors
or related parties. The restrictions on loans and investments can affect the
ability of directors to access funds or invest in the company, thereby limiting
their participation in business operations.<o:p></o:p></span></p>
<p class="MsoNormal" style="text-align: justify;"><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">However, the provision
also helps to prevent potential conflicts of interest or misuse of company
funds, which can protect the interests of shareholders and stakeholders.<o:p></o:p></span></p>
<h2 style="text-align: justify;"><b><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">Compliance Requirements
under </span></b><b style="mso-bidi-font-weight: normal;"><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">Section 185<span style="mso-bidi-font-weight: bold;"><o:p></o:p></span></span></b></h2>
<p class="MsoNormal" style="text-align: justify;"><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">Businesses must ensure
compliance with the provisions of Section 185 to avoid legal and financial
penalties. The company must maintain proper records of loans and investments
made to related parties and disclose them in the financial statements. The
company must also obtain prior approvals and pass necessary resolutions before
making any loans or investments to related parties.<o:p></o:p></span></p>
<p class="MsoNormal" style="text-align: justify;"><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">Failure to comply with
the provisions of Section 185 can result in severe penalties and legal action
against the company and its directors. It is, therefore, crucial for businesses
to maintain proper records and follow the guidelines laid down by the Companies
Act 2013.<o:p></o:p></span></p>
<h2 style="text-align: justify;"><b><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">Case Laws on Section
185</span></b></h2>
<p class="MsoNormal" style="text-align: justify;"><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">Several court cases
have dealt with the interpretation and applicability of Section 185. One such
case is the case of Divya Jyoti Industries Limited v. Union of India, where the
court ruled that Section 185 applies to all loans and investments made by a
company to its directors or related parties, including those made before the
provision came into effect.<o:p></o:p></span></p>
<p class="MsoNormal" style="text-align: justify;"><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">Another notable case is
the case of Raymond Limited v. Union of India, where the court held that the
exception to Section 185 for loans to managing or whole-time directors applies
only to those directors who are not also substantial shareholders of the
company.<o:p></o:p></span></p>
<h2 style="text-align: justify;"><b><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">Benefits and Drawbacks of
Section 185</span></b></h2>
<p class="MsoNormal" style="text-align: justify;"><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">Section 185 has both
benefits and drawbacks for businesses and stakeholders. On the one hand, the
provision helps to prevent potential conflicts of interest or misuse of company
funds, which can protect the interests of shareholders and stakeholders. On the
other hand, the restrictions on loans and investments can limit the ability of
directors to access funds or invest in the company, thereby affecting their
participation in business operations.<o:p></o:p></span></p>
<h2 style="text-align: justify;"><b><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">Challenges and
Opportunities of Section 185</span></b></h2>
<p class="MsoNormal" style="text-align: justify;"><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">Compliance with the
provisions of Section 185 can be challenging for businesses, particularly for
those with complex ownership structures or numerous related parties. However,
complying with the provisions can also provide opportunities for businesses to
improve their corporate governance and strengthen investor confidence.<o:p></o:p></span></p>
<h2 style="text-align: justify;"><b><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">Conclusion</span></b></h2>
<p class="MsoNormal" style="text-align: justify;"><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">Section 185 of the
Companies Act 2013 is an important provision that regulates the loans and
investments made by a company to its directors or related parties. The
provision helps to prevent potential conflicts of interest or misuse of company
funds, thereby safeguarding the interests of shareholders and stakeholders.
Compliance with the provisions of Section 185 is essential for businesses to
avoid legal and financial penalties and improve their corporate governance.<o:p></o:p></span></p>
<p class="MsoNormal" style="text-align: justify;"><b><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;"><o:p> </o:p></span></b></p>
<h2 style="text-align: justify;"><b><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">FAQs</span></b></h2>
<h3 style="margin-left: 0.5in; text-align: justify; text-indent: -0.5in;"><b><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%; mso-fareast-font-family: "Times New Roman";"><span style="mso-list: Ignore;">1.<span style="font-family: "Times New Roman"; font-size: 7pt; font-stretch: normal; font-style: normal; font-variant: normal; line-height: normal;"> </span></span></span><!--[endif]--></b><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;"><b>What
is Section 185 of the Companies Act 2013?</b><o:p></o:p></span></h3>
<p class="MsoNormal" style="text-align: justify;"><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">Section 185 of the
Companies Act 2013 regulates the loans and investments made by a company to its
directors or related parties.<o:p></o:p></span></p>
<h3 style="margin-left: 0.5in; text-align: justify; text-indent: -0.5in;"><b><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%; mso-fareast-font-family: "Times New Roman";"><span style="mso-list: Ignore;">2.<span style="font-family: "Times New Roman"; font-size: 7pt; font-stretch: normal; font-style: normal; font-variant: normal; line-height: normal;"> </span></span></span><!--[endif]--></b><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;"><b>What
are the key provisions of Section 185?</b><o:p></o:p></span></h3>
<p class="MsoNormal" style="text-align: justify;"><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">The key provisions of
Section 185 are:<o:p></o:p></span></p>
<ul style="margin-top: 0in;" type="disc">
<li class="MsoNormal" style="mso-list: l3 level1 lfo6; tab-stops: list .5in; text-align: justify;"><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">A company cannot advance any loan
or provide any guarantee or security in connection with any loan taken by:<o:p></o:p></span></li>
<ul style="margin-top: 0in;" type="disc">
<li class="MsoNormal" style="mso-list: l3 level2 lfo6; tab-stops: list 1.0in; text-align: justify;"><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">Any director of the company, or<o:p></o:p></span></li>
<li class="MsoNormal" style="mso-list: l3 level2 lfo6; tab-stops: list 1.0in; text-align: justify;"><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">Any other person in whom the
director is interested.<o:p></o:p></span></li>
</ul>
<li class="MsoNormal" style="mso-list: l3 level1 lfo6; tab-stops: list .5in; text-align: justify;"><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">A company cannot make any
investment in:<o:p></o:p></span></li>
<ul style="margin-top: 0in;" type="disc">
<li class="MsoNormal" style="mso-list: l3 level2 lfo6; tab-stops: list 1.0in; text-align: justify;"><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">Any company in which a director of
the investing company is a director, or<o:p></o:p></span></li>
<li class="MsoNormal" style="mso-list: l3 level2 lfo6; tab-stops: list 1.0in; text-align: justify;"><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">Any other company in which the
director is interested.<o:p></o:p></span></li>
</ul>
<li class="MsoNormal" style="mso-list: l3 level1 lfo6; tab-stops: list .5in; text-align: justify;"><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">A company must obtain prior
approval of the board of directors and pass a resolution in a general
meeting before making any loan or investment in related parties.<o:p></o:p></span></li>
</ul>
<h3 style="margin-left: 0.5in; text-align: justify; text-indent: -0.5in;"><b><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%; mso-fareast-font-family: "Times New Roman";"><span style="mso-list: Ignore;">3.<span style="font-family: "Times New Roman"; font-size: 7pt; font-stretch: normal; font-style: normal; font-variant: normal; line-height: normal;"> </span></span></span><!--[endif]--></b><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;"><b>Who
are considered related parties under Section 185?</b><o:p></o:p></span></h3>
<p class="MsoNormal" style="text-align: justify;"><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">Under Section 185,
related parties include:<o:p></o:p></span></p>
<ul style="margin-top: 0in;" type="disc">
<li class="MsoNormal" style="mso-list: l5 level1 lfo8; tab-stops: list .5in; text-align: justify;"><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">Directors of the company.<o:p></o:p></span></li>
<li class="MsoNormal" style="mso-list: l5 level1 lfo8; tab-stops: list .5in; text-align: justify;"><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">Relative of the directors.<o:p></o:p></span></li>
<li class="MsoNormal" style="mso-list: l5 level1 lfo8; tab-stops: list .5in; text-align: justify;"><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">KMPs of the company or their
relatives.<o:p></o:p></span></li>
<li class="MsoNormal" style="mso-list: l5 level1 lfo8; tab-stops: list .5in; text-align: justify;"><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">A firm, in which a director,
manager or his relative is a partner.<o:p></o:p></span></li>
<li class="MsoNormal" style="mso-list: l5 level1 lfo8; tab-stops: list .5in; text-align: justify;"><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">A private company in which a
director, manager or his relative is a member or director.<o:p></o:p></span></li>
<li class="MsoNormal" style="mso-list: l5 level1 lfo8; tab-stops: list .5in; text-align: justify;"><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">A public company in which a
director, manager or his relative is a director or holds more than 2% of
its paid-up share capital.<o:p></o:p></span></li>
</ul>
<h3 style="margin-left: 0.5in; text-align: justify; text-indent: -0.5in;"><b><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%; mso-fareast-font-family: "Times New Roman";"><span style="mso-list: Ignore;">4.<span style="font-family: "Times New Roman"; font-size: 7pt; font-stretch: normal; font-style: normal; font-variant: normal; line-height: normal;"> </span></span></span><!--[endif]--></b><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;"><b>What
are the restrictions on loans and investments under Section 185?</b><o:p></o:p></span></h3>
<p class="MsoNormal" style="text-align: justify;"><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">The restrictions on
loans and investments under Section 185 are as follows:<o:p></o:p></span></p>
<ul style="margin-top: 0in;" type="disc">
<li class="MsoNormal" style="mso-list: l8 level1 lfo10; tab-stops: list .5in; text-align: justify;"><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">A company cannot provide any loan,
guarantee or security to any director or any other person in whom the
director is interested.<o:p></o:p></span></li>
<li class="MsoNormal" style="mso-list: l8 level1 lfo10; tab-stops: list .5in; text-align: justify;"><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">A company cannot make any
investment in any company in which a director of the investing company is
a director, or any other company in which the director is interested.<o:p></o:p></span></li>
<li class="MsoNormal" style="mso-list: l8 level1 lfo10; tab-stops: list .5in; text-align: justify;"><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">A company cannot make any
investment or loan to related parties without obtaining prior approval of
the board of directors and passing a resolution in a general meeting.<o:p></o:p></span></li>
</ul>
<h3 style="margin-left: 0.5in; text-align: justify; text-indent: -0.5in;"><b><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%; mso-fareast-font-family: "Times New Roman";"><span style="mso-list: Ignore;">5.<span style="font-family: "Times New Roman"; font-size: 7pt; font-stretch: normal; font-style: normal; font-variant: normal; line-height: normal;"> </span></span></span><!--[endif]--></b><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;"><b>What
are the exceptions to the restrictions under Section 185?</b><o:p></o:p></span></h3>
<p class="MsoNormal" style="text-align: justify;"><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">The exceptions to the restrictions
under Section 185 are as follows:<o:p></o:p></span></p>
<ul style="margin-top: 0in;" type="disc">
<li class="MsoNormal" style="mso-list: l2 level1 lfo12; tab-stops: list .5in; text-align: justify;"><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">Loans to managing or whole-time
directors.<o:p></o:p></span></li>
<li class="MsoNormal" style="mso-list: l2 level1 lfo12; tab-stops: list .5in; text-align: justify;"><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">Loans to a company in which a
managing or whole-time director is a director or a guarantor.<o:p></o:p></span></li>
<li class="MsoNormal" style="mso-list: l2 level1 lfo12; tab-stops: list .5in; text-align: justify;"><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">Loans and investments made by
banking companies or by companies whose principal business is the lending
of money or the investment of funds.<o:p></o:p></span></li>
<li class="MsoNormal" style="mso-list: l2 level1 lfo12; tab-stops: list .5in; text-align: justify;"><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">Loans and investments made in the
ordinary course of business.<o:p></o:p></span></li>
<li class="MsoNormal" style="mso-list: l2 level1 lfo12; tab-stops: list .5in; text-align: justify;"><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">Loans and investments made by
holding companies to their subsidiaries or by subsidiaries to their
holding companies.<o:p></o:p></span></li>
</ul>
<script>mbtTOC();</script>
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is CIN Number? How to Find CIN | Corporate Identification Number</span></span></b></h1>
<p class="MsoNormal" style="text-align: justify;"><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">A CIN number is a
unique identification number that is assigned to companies registered in India.
Learn all about CIN numbers, their structure, purpose, and more in this
comprehensive guide.<o:p></o:p></span></p>
<div class="mbtTOC"> <button onclick="mbtToggle()">Table Of Contents</button> <ul id="mbtTOC"></ul> </div>
<h2 style="text-align: justify;"><b style="mso-bidi-font-weight: normal;"><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">Introduction:</span></b></h2>
<p class="MsoNormal" style="text-align: justify;"><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">If you're planning to
register a company in India, you'll need to be familiar with the CIN number.
CIN stands for Company Identification Number, and it's a unique identification
number assigned to all companies registered under the Companies Act, 2013. In
this article, we'll cover everything you need to know about the CIN number,
including its structure, purpose, and how to obtain one.</span></p><p class="MsoNormal" style="text-align: justify;"><b style="mso-bidi-font-weight: normal;"><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">What
is a CIN Number?</span></b></p>
<p class="MsoNormal" style="text-align: justify;"><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">A CIN number is a
unique identification number that is assigned to companies registered under the
Companies Act, 2013. It is a 21-digit alphanumeric code that contains
information about the company, such as its registration number, date of
incorporation, and state where it is registered. The CIN number serves as a
unique identifier for the company and is used by various government
departments, banks, and other organizations.</span></p>
<h2 style="text-align: justify;"><b style="mso-bidi-font-weight: normal;"><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">Structure
of CIN Number</span></b></h2>
<p class="MsoNormal" style="text-align: justify;"><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">The CIN number consists
of 21 characters, which are divided into three parts:<o:p></o:p></span></p>
<p class="MsoNormal" style="margin-left: 0.25in; mso-list: l4 level1 lfo2; tab-stops: list .25in; text-align: justify; text-indent: -0.25in;"><!--[if !supportLists]--><span style="font-family: Symbol; font-size: 10pt; line-height: 115%; mso-bidi-font-family: Symbol; mso-bidi-font-size: 14.0pt; mso-fareast-font-family: Symbol;"><span style="mso-list: Ignore;">·<span style="font: 7pt "Times New Roman";"> </span></span></span><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">The first part consists of the first 2
characters and represents the corporate identity number (CIN).<o:p></o:p></span></p>
<p class="MsoNormal" style="margin-left: 0.25in; mso-list: l4 level1 lfo2; tab-stops: list .25in; text-align: justify; text-indent: -0.25in;"><!--[if !supportLists]--><span style="font-family: Symbol; font-size: 10pt; line-height: 115%; mso-bidi-font-family: Symbol; mso-bidi-font-size: 14.0pt; mso-fareast-font-family: Symbol;"><span style="mso-list: Ignore;">·<span style="font: 7pt "Times New Roman";"> </span></span></span><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">The second part consists of 6 characters
and represents the industry code of the company.<o:p></o:p></span></p>
<p class="MsoNormal" style="margin-left: 0.25in; mso-list: l4 level1 lfo2; tab-stops: list .25in; text-align: justify; text-indent: -0.25in;"><!--[if !supportLists]--><span style="font-family: Symbol; font-size: 10pt; line-height: 115%; mso-bidi-font-family: Symbol; mso-bidi-font-size: 14.0pt; mso-fareast-font-family: Symbol;"><span style="mso-list: Ignore;">·<span style="font: 7pt "Times New Roman";"> </span></span></span><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">The third part consists of 13 characters
and represents the registration number of the company, date of incorporation,
and state where it is registered.<o:p></o:p></span></p>
<p class="MsoNormal" style="text-align: justify;"><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">For example, the CIN
number for a company registered in Maharashtra might look like this:
U74999MH2021PTC375896. In this example, "U7" represents the CIN,
"4999" represents the industry code, "MH2021PTC375896"
represents the registration number, date of incorporation, and state where it
is registered.</span></p>
<h2 style="text-align: justify;"><b style="mso-bidi-font-weight: normal;"><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">Purpose
of CIN Number</span></b></h2>
<p class="MsoNormal" style="text-align: justify;"><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">The CIN number serves
as a unique identifier for companies registered under the Companies Act, 2013.
It is used by various government departments, banks, and other organizations to
identify and verify the company's identity. Some of the purposes for which the
CIN number is used include:<o:p></o:p></span></p>
<p class="MsoNormal" style="margin-left: 0.25in; mso-list: l1 level1 lfo3; text-align: justify; text-indent: -0.25in;"><!--[if !supportLists]--><span style="font-family: Symbol; font-size: 10pt; line-height: 115%; mso-bidi-font-family: Symbol; mso-bidi-font-size: 14.0pt; mso-fareast-font-family: Symbol;"><span style="mso-list: Ignore;">·<span style="font: 7pt "Times New Roman";">
</span></span></span><!--[endif]--><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">Filing annual returns with the Registrar
of Companies (ROC)</span></p><p class="MsoNormal" style="margin-left: 0.25in; mso-list: l1 level1 lfo3; text-align: justify; text-indent: -0.25in;"><span style="font-family: Symbol; font-size: 10pt; line-height: 115%; mso-bidi-font-family: Symbol; mso-bidi-font-size: 14.0pt; mso-fareast-font-family: Symbol; text-indent: -0.25in;"><span style="mso-list: Ignore;">·<span style="font-family: "Times New Roman"; font-size: 7pt; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: normal;">
</span></span></span><!--[endif]--><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%; text-indent: -0.25in;">Filing financial statements with the
Ministry of Corporate Affairs (MCA)</span></p>
<p class="MsoNormal" style="margin-left: 0.25in; mso-list: l1 level1 lfo3; text-align: justify; text-indent: -0.25in;"><!--[if !supportLists]--><span style="font-family: Symbol; font-size: 10pt; line-height: 115%; mso-bidi-font-family: Symbol; mso-bidi-font-size: 14.0pt; mso-fareast-font-family: Symbol;"><span style="mso-list: Ignore;">·<span style="font: 7pt "Times New Roman";">
</span></span></span><!--[endif]--><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">Opening bank accounts and obtaining
loans from banks<o:p></o:p></span></p>
<p class="MsoNormal" style="margin-left: 0.25in; mso-list: l1 level1 lfo3; text-align: justify; text-indent: -0.25in;"><!--[if !supportLists]--><span style="font-family: Symbol; font-size: 10pt; line-height: 115%; mso-bidi-font-family: Symbol; mso-bidi-font-size: 14.0pt; mso-fareast-font-family: Symbol;"><span style="mso-list: Ignore;">·<span style="font: 7pt "Times New Roman";">
</span></span></span><!--[endif]--><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">Obtaining various licenses and permits
from government departments<o:p></o:p></span></p>
<p class="MsoNormal" style="margin-left: 0.25in; mso-list: l1 level1 lfo3; text-align: justify; text-indent: -0.25in;"><!--[if !supportLists]--><span style="font-family: Symbol; font-size: 10pt; line-height: 115%; mso-bidi-font-family: Symbol; mso-bidi-font-size: 14.0pt; mso-fareast-font-family: Symbol;"><span style="mso-list: Ignore;">·<span style="font: 7pt "Times New Roman";">
</span></span></span><!--[endif]--><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">Verifying the authenticity of a
company's registration</span></p>
<h2 style="text-align: justify;"><b style="mso-bidi-font-weight: normal;"><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">How
to obtain a CIN Number</span></b></h2>
<p class="MsoNormal" style="text-align: justify;"><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">To obtain a CIN number,
you'll need to register your company under the Companies Act, 2013. The
registration process involves several steps, including:<o:p></o:p></span></p>
<p class="MsoNormal" style="margin-left: 0.25in; mso-list: l3 level1 lfo4; tab-stops: list .25in; text-align: justify; text-indent: -0.25in;"><!--[if !supportLists]--><span style="font-family: Symbol; font-size: 10pt; line-height: 115%; mso-bidi-font-family: Symbol; mso-bidi-font-size: 14.0pt; mso-fareast-font-family: Symbol;"><span style="mso-list: Ignore;">·<span style="font: 7pt "Times New Roman";">
</span></span></span><!--[endif]--><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">Obtaining a Digital Signature
Certificate (DSC) for the directors of the company<o:p></o:p></span></p>
<p class="MsoNormal" style="margin-left: 0.25in; mso-list: l3 level1 lfo4; tab-stops: list .25in; text-align: justify; text-indent: -0.25in;"><!--[if !supportLists]--><span style="font-family: Symbol; font-size: 10pt; line-height: 115%; mso-bidi-font-family: Symbol; mso-bidi-font-size: 14.0pt; mso-fareast-font-family: Symbol;"><span style="mso-list: Ignore;">·<span style="font: 7pt "Times New Roman";"> </span></span></span><!--[endif]--><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">Obtaining a Director Identification
Number (DIN) for the directors of the company<o:p></o:p></span></p>
<p class="MsoNormal" style="margin-left: 0.25in; mso-list: l3 level1 lfo4; tab-stops: list .25in; text-align: justify; text-indent: -0.25in;"><!--[if !supportLists]--><span style="font-family: Symbol; font-size: 10pt; line-height: 115%; mso-bidi-font-family: Symbol; mso-bidi-font-size: 14.0pt; mso-fareast-font-family: Symbol;"><span style="mso-list: Ignore;">·<span style="font: 7pt "Times New Roman";">
</span></span></span><!--[endif]--><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">Filing an application for name
reservation with the ROC<o:p></o:p></span></p>
<p class="MsoNormal" style="margin-left: 0.25in; mso-list: l3 level1 lfo4; tab-stops: list .25in; text-align: justify; text-indent: -0.25in;"><!--[if !supportLists]--><span style="font-family: Symbol; font-size: 10pt; line-height: 115%; mso-bidi-font-family: Symbol; mso-bidi-font-size: 14.0pt; mso-fareast-font-family: Symbol;"><span style="mso-list: Ignore;">·<span style="font: 7pt "Times New Roman";"> </span></span></span><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">Preparing and filing the Memorandum of
Association (MOA) and Articles of Association (AOA) with the ROC<o:p></o:p></span></p>
<p class="MsoNormal" style="margin-left: 0.25in; mso-list: l3 level1 lfo4; tab-stops: list .25in; text-align: justify; text-indent: -0.25in;"><!--[if !supportLists]--><span style="font-family: Symbol; font-size: 10pt; line-height: 115%; mso-bidi-font-family: Symbol; mso-bidi-font-size: 14.0pt; mso-fareast-font-family: Symbol;"><span style="mso-list: Ignore;">·<span style="font: 7pt "Times New Roman";"> </span></span></span><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">Paying the registration fee and
obtaining the Certificate of Incorporation (COI) from the ROC<o:p></o:p></span></p>
<p class="MsoNormal" style="text-align: justify;"><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">Once your company is
registered, you'll be assigned a unique CIN number, which will be included on
all official documents and correspondence.</span></p>
<h2 style="text-align: justify;"><b style="mso-bidi-font-weight: normal;"><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">FAQs
about CIN Number</span></b></h2>
<p class="MsoNormal" style="margin-left: 0.25in; mso-list: l0 level1 lfo5; tab-stops: list .25in; text-align: justify; text-indent: -0.25in;"><!--[if !supportLists]--><b style="mso-bidi-font-weight: normal;"><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%; mso-fareast-font-family: "Times New Roman";"><span style="mso-list: Ignore;">1.<span style="font: 7pt "Times New Roman";">
</span></span></span></b><!--[endif]--><b style="mso-bidi-font-weight: normal;"><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">What
is the full form of CIN?<o:p></o:p></span></b></p>
<p class="MsoNormal" style="margin-left: 0.25in; tab-stops: list .25in; text-align: justify; text-indent: -0.25in;"><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;"><span style="mso-tab-count: 1;"> </span>CIN
stands for Company Identification Number, it is a unique identification number allotted
to all the companies incorporated in India under the Companies Act, 2013.<o:p></o:p></span></p>
<p class="MsoNormal" style="margin-left: 0.25in; mso-list: l0 level1 lfo5; tab-stops: list .25in; text-align: justify; text-indent: -0.25in;"><!--[if !supportLists]--><b style="mso-bidi-font-weight: normal;"><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%; mso-fareast-font-family: "Times New Roman";"><span style="mso-list: Ignore;">2.<span style="font: 7pt "Times New Roman";">
</span></span></span></b><!--[endif]--><b style="mso-bidi-font-weight: normal;"><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">Where
can I find my CIN number?<o:p></o:p></span></b></p>
<p class="MsoNormal" style="margin-left: 0.25in; tab-stops: list .25in; text-align: justify; text-indent: -0.25in;"><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;"><span style="mso-tab-count: 1;"> </span>You
can find the CIN number of any company registered in India on the website of
MCA under the “MCA Services” tab. To find the CIN on MCA website click on
following tabs MCA Services > Company Services > Find CIN.<o:p></o:p></span></p>
<p class="MsoNormal" style="margin-left: 0.25in; mso-list: l0 level1 lfo5; tab-stops: list .25in; text-align: justify; text-indent: -0.25in;"><!--[if !supportLists]--><b style="mso-bidi-font-weight: normal;"><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%; mso-fareast-font-family: "Times New Roman";"><span style="mso-list: Ignore;">3.<span style="font: 7pt "Times New Roman";">
</span></span></span></b><!--[endif]--><b style="mso-bidi-font-weight: normal;"><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">Is
a CIN number the same as a GST number?<o:p></o:p></span></b></p>
<p class="MsoNormal" style="margin-left: 0.25in; tab-stops: list .25in; text-align: justify; text-indent: -0.25in;"><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;"><span style="mso-tab-count: 1;"> </span>No,
a CIN number and GST number are two different identification numbers. A CIN
number is used to identify companies registered under the Companies Act, 2013,
while a GST number is used to identify companies registered under the Goods and
Services Tax Act, 2017.<o:p></o:p></span></p>
<p class="MsoNormal" style="margin-left: 0.25in; mso-list: l0 level1 lfo5; tab-stops: list .25in; text-align: justify; text-indent: -0.25in;"><!--[if !supportLists]--><b style="mso-bidi-font-weight: normal;"><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%; mso-fareast-font-family: "Times New Roman";"><span style="mso-list: Ignore;">4.<span style="font: 7pt "Times New Roman";">
</span></span></span></b><!--[endif]--><b style="mso-bidi-font-weight: normal;"><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">Can
a company have more than one CIN number?<o:p></o:p></span></b></p>
<p class="MsoNormal" style="margin-left: 0.25in; tab-stops: list .25in; text-align: justify; text-indent: -0.25in;"><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;"><span style="mso-tab-count: 1;"> </span>No,
a company can only have one CIN number, which is assigned at the time of
registration.<o:p></o:p></span></p>
<p class="MsoNormal" style="margin-left: 0.25in; mso-list: l0 level1 lfo5; tab-stops: list .25in; text-align: justify; text-indent: -0.25in;"><!--[if !supportLists]--><b style="mso-bidi-font-weight: normal;"><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%; mso-fareast-font-family: "Times New Roman";"><span style="mso-list: Ignore;">5.<span style="font: 7pt "Times New Roman";">
</span></span></span></b><!--[endif]--><b style="mso-bidi-font-weight: normal;"><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">Is
it mandatory to have a CIN number?<o:p></o:p></span></b></p>
<p class="MsoNormal" style="margin-left: 0.25in; tab-stops: list .25in; text-align: justify; text-indent: -0.25in;"><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;"><span style="mso-tab-count: 1;"> </span>Yes,
it is mandatory for all companies registered under the Companies Act, 2013, to
have a CIN number.<o:p></o:p></span></p>
<p class="MsoNormal" style="margin-left: 0.25in; mso-list: l0 level1 lfo5; tab-stops: list .25in; text-align: justify; text-indent: -0.25in;"><!--[if !supportLists]--><b style="mso-bidi-font-weight: normal;"><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%; mso-fareast-font-family: "Times New Roman";"><span style="mso-list: Ignore;">6.<span style="font: 7pt "Times New Roman";">
</span></span></span></b><!--[endif]--><b style="mso-bidi-font-weight: normal;"><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">Can
the CIN number be changed?<o:p></o:p></span></b></p>
<p class="MsoNormal" style="margin-left: 0.25in; tab-stops: list .25in; text-align: justify; text-indent: -0.25in;"><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;"><span style="mso-tab-count: 1;"> </span>No,
once a CIN number is assigned to a company, it cannot be changed.</span></p>
<h2 style="text-align: justify;"><b style="mso-bidi-font-weight: normal;"><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">Conclusion:</span></b></h2>
<p class="MsoNormal" style="text-align: justify;"><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">In conclusion, a CIN
number is a unique identification number assigned to all companies registered
under the Companies Act, 2013, in India. It serves as a unique identifier for
the company and is used by various government departments, banks, and other
organizations. The CIN number consists of 21 characters and contains
information about the company's registration number, date of incorporation, and
state where it is registered. Obtaining a CIN number is a mandatory requirement
for all companies registered under the Companies Act, 2013, and the registration
process involves several steps. If you're planning to register a company in
India, it's essential to understand the importance of the CIN number and ensure
that your company is properly registered and compliant with all relevant laws
and regulations.<o:p></o:p></span></p><p class="MsoNormal" style="text-align: justify;"><span style="font-family: "Times New Roman", "serif"; font-size: 14pt;"><b>You may also like to visit :</b></span></p><p class="MsoNormal" style="text-align: justify;"><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;"><b><a href="https://www.corporatelaws.in/2023/03/How-to-Download-Company-Master-Data-MCA.html" target="_blank"><span style="color: #2b00fe;">How to Download Company Master Data From MCA</span></a></b></span></p>
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to Download Company Master Data From MCA</span></b></div><p></p>
<p class="MsoNormal" style="text-align: justify;"><span style="font-family: "Times New Roman", "serif"; font-size: 14pt;">If you're looking to
access the master data of a company registered with the Ministry of Corporate
Affairs (MCA), then you can use the easy-to-use tool provided by MCA that
allows anyone to access a company's master data through its website. In this
article, we'll take you through the steps required to download company master
data from MCA.</span></p>
<p class="MsoNormal" style="text-align: justify;"><br /></p>
<div class="mbtTOC"> <button onclick="mbtToggle()">Table Of Contents</button> <ul id="mbtTOC"></ul> </div>
<h2 style="text-align: justify;"><b><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">Understanding Company
Master Data</span></b></h2>
<p class="MsoNormal" style="text-align: justify;"><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">Before we dive into the
process of downloading company master data from MCA, it's essential to
understand what it entails. Company master data is a set of information that
comprises various aspects of a company, including its legal and financial
details. This data is crucial for businesses, investors, and other stakeholders
who want to make informed decisions about the company.<o:p></o:p></span></p>
<p class="MsoNormal" style="text-align: justify;"><br /></p>
<h2 style="text-align: justify;"><b><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">Step-by-Step Guide for
Downloading Company Master Data</span></b></h2>
<p class="MsoNormal" style="text-align: justify;"><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">Here's a step-by-step
guide on how to download company master data from MCA:<o:p></o:p></span></p>
<p class="MsoNormal" style="text-align: justify;"><b><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">Step 1: Visit the MCA
website<o:p></o:p></span></b></p>
<p class="MsoNormal" style="text-align: justify;"><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">The first step is to
visit the MCA website (http://www.mca.gov.in). Once you're on the website, look
for the "MCA Services" tab on the top menu and click on it.<o:p></o:p></span></p>
<p class="MsoNormal" style="text-align: justify;"><b><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">Step 2: Access the
Company Master Data<o:p></o:p></span></b></p>
<p class="MsoNormal" style="text-align: justify;"><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">Under the MCA Services
tab, you'll see a list of options. Look for the "View Company/LLP Master
Data" option and click on it. This will take you to a page where you can
search for the company whose master data you want to access.<o:p></o:p></span></p>
<p class="MsoNormal" style="text-align: justify;"><b><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">Step 3: Search for the
Company<o:p></o:p></span></b></p>
<p class="MsoNormal" style="text-align: justify;"><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">On the "View
Company/LLP Master Data" page, you can search for the company by entering
its name or Corporate Identity Number (CIN). Once you've entered the details,
click on the "Search" button.<o:p></o:p></span></p>
<p class="MsoNormal" style="text-align: justify;"><b><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">Step 4: Access the
Master Data<o:p></o:p></span></b></p>
<p class="MsoNormal" style="text-align: justify;"><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">Once you've found the
company, click on the CIN/Company Name link to access its master data. You'll
see a list of documents related to the company, including its Certificate of
Incorporation, Memorandum of Association, and Articles of Association.<o:p></o:p></span></p>
<p class="MsoNormal" style="text-align: justify;"><b><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">Step 5: Download the
Master Data<o:p></o:p></span></b></p>
<p class="MsoNormal" style="text-align: justify;"><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">To download the master
data, click on the "Download" button next to the document you want to
access. The document will be downloaded to your computer in PDF format.<o:p></o:p></span></p>
<p class="MsoNormal" style="text-align: justify;"><br /></p>
<h2 style="text-align: justify;"><b><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">Tips for Downloading
Company Master Data</span></b></h2>
<p class="MsoNormal" style="text-align: justify;"><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">While downloading
company master data from MCA is a relatively straightforward process, there are
a few tips that you should keep in mind:<o:p></o:p></span></p>
<p class="MsoNormal" style="text-align: justify;"><b><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">Tip 1: Ensure the
Company is Registered with MCA<o:p></o:p></span></b></p>
<p class="MsoNormal" style="text-align: justify;"><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">Before you begin the
process of downloading the master data, ensure that the company is registered
with MCA. You can check the company's registration status by searching for it
on the MCA website.<o:p></o:p></span></p>
<p class="MsoNormal" style="text-align: justify;"><b><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">Tip 2: Verify the
Master Data<o:p></o:p></span></b></p>
<p class="MsoNormal" style="text-align: justify;"><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">Once you've downloaded
the master data, make sure to verify its accuracy. While MCA takes every
precaution to ensure that the data is accurate, errors can still occur.<o:p></o:p></span></p>
<p class="MsoNormal" style="text-align: justify;"><b><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">Tip 3: Keep the Master
Data Confidential<o:p></o:p></span></b></p>
<p class="MsoNormal" style="text-align: justify;"><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">Company master data
contains sensitive information, so it's crucial to keep it confidential. Only
share the data with individuals who have a legitimate need for it.<o:p></o:p></span></p>
<p class="MsoNormal" style="text-align: justify;"><br /></p>
<h2 style="text-align: justify;"><b style="mso-bidi-font-weight: normal;"><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">Conclusion:</span></b></h2>
<p class="MsoNormal" style="text-align: justify;"><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">Downloading master data
for a company registered with MCA can be a straightforward process if you know
where to look and how to navigate the website. With the steps outlined in this
article, you should be able to download the data you need quickly and easily.
Remember to always verify the accuracy of the data before using it, and to be
aware of any fees associated with accessing the information. <o:p></o:p></span></p>
<p class="MsoNormal" style="text-align: center;"><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;"><o:p> </o:p></span></p><div class="separator" style="clear: both; text-align: center;"><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;"><iframe allowfullscreen="" class="BLOG_video_class" height="266" src="https://www.youtube.com/embed/A1OKvM0vxp4" width="320" youtube-src-id="A1OKvM0vxp4"></iframe></span></div><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;"><br /></span><p></p>
<h2 style="text-align: justify;"><b style="mso-bidi-font-weight: normal;"><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">FAQs:</span></b></h2>
<p class="MsoNormal" style="margin-left: 0.25in; mso-list: l0 level1 lfo1; tab-stops: list .25in; text-align: justify; text-indent: -0.25in;"><!--[if !supportLists]--><b style="mso-bidi-font-weight: normal;"><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%; mso-fareast-font-family: "Times New Roman";"><span style="mso-list: Ignore;">1.<span style="font: 7pt "Times New Roman";">
</span></span></span></b><!--[endif]--><b style="mso-bidi-font-weight: normal;"><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">What
is master data in the context of MCA?<o:p></o:p></span></b></p>
<p class="MsoNormal" style="margin-left: 0.25in; tab-stops: list .25in; text-align: justify; text-indent: -0.25in;"><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;"><span style="mso-tab-count: 1;"> </span>Master
data refers to the basic information about a company that is maintained by MCA,
such as its name, registration number, address, directors and KMPs.<o:p></o:p></span></p>
<p class="MsoNormal" style="margin-left: 0.25in; mso-list: l0 level1 lfo1; tab-stops: list .25in; text-align: justify; text-indent: -0.25in;"><!--[if !supportLists]--><b style="mso-bidi-font-weight: normal;"><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%; mso-fareast-font-family: "Times New Roman";"><span style="mso-list: Ignore;">2.<span style="font: 7pt "Times New Roman";">
</span></span></span></b><!--[endif]--><b style="mso-bidi-font-weight: normal;"><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">Is
it legal to download company master data from MCA?<o:p></o:p></span></b></p>
<p class="MsoNormal" style="margin-left: 0.25in; tab-stops: list .25in; text-align: justify; text-indent: -0.25in;"><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;"><span style="mso-tab-count: 1;"> </span>Yes,
it is legal to download company master data from MCA as it is a public record.<o:p></o:p></span></p>
<p class="MsoNormal" style="margin-left: 0.5in; mso-list: l0 level1 lfo1; tab-stops: list .25in .5in; text-align: justify; text-indent: -0.5in;"><!--[if !supportLists]--><b style="mso-bidi-font-weight: normal;"><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%; mso-fareast-font-family: "Times New Roman";"><span style="mso-list: Ignore;">3.<span style="font: 7pt "Times New Roman";">
</span></span></span></b><!--[endif]--><b style="mso-bidi-font-weight: normal;"><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">Can
I download master data for a foreign company registered in India?<o:p></o:p></span></b></p>
<p class="MsoNormal" style="margin-left: 0.25in; tab-stops: list .25in; text-align: justify; text-indent: -0.25in;"><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;"><span style="mso-tab-count: 1;"> </span>No,
you can only download master data for Indian companies registered with MCA.<o:p></o:p></span></p>
<p class="MsoNormal" style="margin-left: 0.25in; mso-list: l2 level1 lfo2; tab-stops: list .25in; text-align: justify; text-indent: -0.25in;"><!--[if !supportLists]--><b style="mso-bidi-font-weight: normal;"><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%; mso-fareast-font-family: "Times New Roman";"><span style="mso-list: Ignore;">4.<span style="font: 7pt "Times New Roman";">
</span></span></span></b><!--[endif]--><b style="mso-bidi-font-weight: normal;"><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">Can
I download master data for a company that has been dissolved?<o:p></o:p></span></b></p>
<p class="MsoNormal" style="margin-left: 0.25in; tab-stops: list .25in; text-align: justify; text-indent: -0.25in;"><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;"><span style="mso-tab-count: 1;"> </span>No,
you cannot download master data for a company that has been dissolved.<o:p></o:p></span></p>
<p class="MsoNormal" style="margin-left: 0.25in; mso-list: l1 level1 lfo3; tab-stops: list .25in; text-align: justify; text-indent: -0.25in;"><!--[if !supportLists]--><b style="mso-bidi-font-weight: normal;"><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%; mso-fareast-font-family: "Times New Roman";"><span style="mso-list: Ignore;">5.<span style="font: 7pt "Times New Roman";">
</span></span></span></b><!--[endif]--><b style="mso-bidi-font-weight: normal;"><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">How
often is the master data updated on the MCA website?<o:p></o:p></span></b></p>
<p class="MsoNormal" style="margin-left: 0.25in; tab-stops: list .25in; text-align: justify; text-indent: -0.25in;"><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;"><span style="mso-tab-count: 1;"> </span>The
master data is updated on a regular basis by the MCA. However, it's always a
good idea to verify the accuracy of the data before using it.<o:p></o:p></span></p>
<script>mbtTOC();</script>
<script type="application/ld+json">{"@context":"https://schema.org","@type":"FAQPage","mainEntity":[{"@type":"Question","name":"What is master data in the context of MCA?","acceptedAnswer":{"@type":"Answer","text":" Master data refers to the basic information about a company that is maintained by MCA, such as its name, registration number, address, directors and KMPs."}},{"@type":"Question","name":" Is it legal to download company master data from MCA?","acceptedAnswer":{"@type":"Answer","text":"Yes, it is legal to download company master data from MCA as it is a public record."}},{"@type":"Question","name":"Can I download master data for a foreign company registered in India?","acceptedAnswer":{"@type":"Answer","text":"No, you can only download master data for Indian companies registered with MCA."}},{"@type":"Question","name":"Can I download master data for a company that has been dissolved?","acceptedAnswer":{"@type":"Answer","text":"No, you cannot download master data for a company that has been dissolved."}},{"@type":"Question","name":"How often is the master data updated on the MCA website?","acceptedAnswer":{"@type":"Answer","text":"The master data is updated on a regular basis by the MCA. However, it's always a good idea to verify the accuracy of the data before using it."}}]}</script><!--FAQPage Code Generated by https://saijogeorge.com/json-ld-schema-generator/faq/-->CS Ashish Jainhttp://www.blogger.com/profile/00427323626525507645noreply@blogger.comIndia20.593684 78.96288-7.7165498361788458 43.80663 48.903917836178849 114.11913tag:blogger.com,1999:blog-5686816402528651075.post-43065554724675872102023-03-05T16:58:00.002+05:302023-03-05T18:18:14.468+05:30MCA eBook on Companies Act 2013 | Free Download<p style="text-align: center;"> <a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEj5JhFqeDlVUP4tmptL7IscbwiaADe6NX13bqoV1vcfqQFDHjh_kOsOtRNJNUaVXiTqLgsYQSGAM5S0yqJu0O0f2y1vPR8aPOZUA-GvCEaXSwVxf8B4aLWhQA8Qq01XvVXD3VvCeMR7uA0kWL1WMDLM4NG9HzZQq_RdFwoY_V6uGczelOcmgVb7zqs7/s284/mca-ebook-companies-act-2013.jpg" style="margin-left: 1em; margin-right: 1em;"><img alt="MCA-ebook-companies-act-2013-free-Download" border="0" data-original-height="177" data-original-width="284" height="199" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEj5JhFqeDlVUP4tmptL7IscbwiaADe6NX13bqoV1vcfqQFDHjh_kOsOtRNJNUaVXiTqLgsYQSGAM5S0yqJu0O0f2y1vPR8aPOZUA-GvCEaXSwVxf8B4aLWhQA8Qq01XvVXD3VvCeMR7uA0kWL1WMDLM4NG9HzZQq_RdFwoY_V6uGczelOcmgVb7zqs7/w320-h199/mca-ebook-companies-act-2013.jpg" title="MCA eBook on Companies Act 2013 | Free Download" width="320" /></a><span></span></p><a name='more'></a><p></p><h1 style="text-align: center;"><b style="mso-bidi-font-weight: normal;"><span style="color: red; font-family: "Times New Roman","serif"; font-size: x-large; line-height: 115%;">MCA
eBook on Companies Act 2013 | Free Download</span></b></h1>
<p class="MsoNormal" style="text-align: justify;"><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">The eBook on the
Companies Act 2013 issued by the Ministry of Corporate Affairs in India is a
comprehensive guide that simplifies and explains the legal framework governing
companies in India. Download the eBook for free and stay abreast of the latest
legal developments in India's corporate world.<o:p></o:p></span></p>
<p class="MsoNormal" style="text-align: justify;"><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">The Companies Act, 2013
is a landmark legislation that brought significant changes to India's corporate
law regime. The Ministry of Corporate Affairs in India has issued an eBook to
help individuals and businesses understand the new provisions of the Act. In
this article, we will discuss the contents of the eBook and how it can be
beneficial for those who want to have a comprehensive understanding of the
Companies Act, 2013.<o:p></o:p></span></p>
<div class="mbtTOC">
<button onclick="mbtToggle()">Table Of Contents</button>
<ul id="mbtTOC"></ul>
</div>
<p class="MsoNormal" style="text-align: justify;"><b><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">Introduction</span></b></p>
<p class="MsoNormal" style="text-align: justify;"><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">The Companies Act, 2013
replaced the Companies Act, 1956 and came into effect on April 1, 2014. The new
Act aims to bring transparency, accountability, and corporate governance in the
functioning of companies in India. However, the complexity of the Act and its
various provisions can make it challenging for individuals and businesses to
understand its implications fully.<o:p></o:p></span></p>
<p class="MsoNormal" style="text-align: justify;"><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">The e-book on Companies
Act, 2013 issued by the Ministry of Corporate Affairs is an excellent resource
for anyone who wants to understand the implications of the Act. The eBook
provides a comprehensive explanation of the Act's various provisions in a
simplified and user-friendly manner, making it accessible to a wider audience.
Moreover, the eBook is available in both English and Hindi, ensuring that it
can reach a broader audience.<o:p></o:p></span></p><p class="MsoNormal" style="text-align: center;"></p><div class="separator" style="clear: both; text-align: center;"><a href="https://www.corporatelaws.in/2017/05/Ebook-Resolutions-Procedures-Companies-Act-2013.html" style="margin-left: 1em; margin-right: 1em;" target="_blank"><img alt="ebook-board-resolutions" border="0" data-original-height="129" data-original-width="390" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiqN0MO1mXgcE6JqJ-IcH37bu7psnsjHFPcStBNygpVL-QZbcNpyjDrZqbXu5KofDsFHw6OSEEbixsBp5u6AprjFjNqSLi37IHoaXYRFyuEGxObWWzVJhIWTlIF5gTZ0UudxLYHaasI-pfwTdLJus47ATak8wFvCH6JgsW0sixFJ1y2J_QGoHPHAnTo/s16000/ebook-board-resolution-procedure.jpg" title="ebook on board resolution and procedure" /></a></div><br /><div class="separator" style="clear: both; text-align: center;"><br /></div><h2 style="text-align: justify;"><b><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">Overview of the
Companies Act, 2013</span></b></h2>
<p class="MsoNormal" style="text-align: justify;"><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">The Companies Act, 2013
is a comprehensive legislation that covers a wide range of topics related to
the functioning of companies in India. It includes provisions related to
company formation, governance, management, and winding up. The Act also contains
provisions related to the rights of shareholders, directors, and auditors,
among others.<o:p></o:p></span></p>
<h2 style="text-align: justify;"><b><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">Objectives of the eBook</span></b></h2>
<p class="MsoNormal" style="text-align: justify;"><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">The eBook issued by the
Ministry of Corporate Affairs aims to provide a simplified and user-friendly
version of the Companies Act, 2013. It aims to make the Act accessible to a
wider audience and help individuals and businesses understand its implications.<o:p></o:p></span></p>
<h2 style="text-align: justify;"><b><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">Key Features of the
eBook</span></b></h2>
<p class="MsoNormal" style="text-align: justify;"><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">The eBook on the
Companies Act, 2013 is available in both English and Hindi. It contains a
detailed explanation of the various provisions of the Act, along with examples
and illustrations. The eBook is interactive, and users can navigate through the
chapters and sections using hyperlinks.<o:p></o:p></span></p>
<h2 style="text-align: justify;"><b><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">Chapter-wise Summary </span></b></h2>
<p class="MsoNormal" style="text-align: justify;"><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">The eBook is divided
into several chapters, each of which covers a specific aspect of the Companies
Act, 2013. <o:p></o:p></span></p>
<h2 style="text-align: justify;"><b><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">Conclusion</span></b></h2>
<p class="MsoNormal" style="text-align: justify;"><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">In conclusion, the
eBook on the Companies Act, 2013 issued by the Ministry of Corporate Affairs in
India is an essential resource for anyone who wants to understand the legal
framework governing companies in India. The Act has far-reaching implications
for companies, investors, and other stakeholders, and the eBook provides a
comprehensive explanation of its various provisions in a simplified and
user-friendly manner. The availability of the eBook in both English and Hindi
makes it accessible to a wider audience, furthering the cause of transparency,
accountability, and corporate governance in India. With periodic updates and a
well-structured layout, the eBook is an invaluable resource for students,
professionals, entrepreneurs, and investors who want to stay abreast of the
latest legal developments in India's corporate world. By making the Act
accessible to a wider audience, the Ministry of Corporate Affairs has taken a
significant step towards improving transparency, accountability, and corporate
governance in India.<o:p></o:p></span></p><p class="MsoNormal" style="text-align: justify;"><b style="font-family: "Times New Roman", "serif"; font-size: 14pt;">Click on the below given link to download the MCA e-book on Companies Act, 2013 in PDF format.</b></p><p class="MsoNormal" style="text-align: center;"></p><div class="separator" style="clear: both; text-align: center;"><a href="https://www.corporatelaws.in/p/mca-e-book-on-companies-act-2013.html" rel="nofollow" style="margin-left: 1em; margin-right: 1em;" target="_blank"><img alt="mca-ebook" border="0" data-original-height="131" data-original-width="386" height="109" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjRDbprtw_ZHceFJKomSU8i_QvEheVFrtwWGp7XEeXGgf-YnNVCIyWm6AKiXLmf3MGwv0ya1aq-2S9n5BmF_ZiN32Fy4xaVOo8VQtHTIeT1o8cZPhLpuT5xDknQ4ZocaCWRskhgwiOlf0RLnAxIv_OLlSAUZhIebq8PLnIMyZGxA8GLYJ0VV4yRm8Tm/w320-h109/mca-ebook.jpg" width="320" /></a></div><br /><p></p>
<h2 style="text-align: justify;"><b><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">FAQs</span></b></h2><p class="MsoNormal" style="margin-left: 0.25in; mso-list: l5 level1 lfo1; tab-stops: list .25in; text-align: justify; text-indent: -0.25in;"><b><!--[if !supportLists]--><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%; mso-fareast-font-family: "Times New Roman";">1.<span style="font-family: "Times New Roman"; font-size: 7pt; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: normal;"> </span></span><!--[endif]--></b><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;"><b>Is
the eBook on the Companies Act, 2013 available for free?</b><o:p></o:p></span></p><p class="MsoNormal" style="margin-left: 0.25in; mso-list: l4 level1 lfo2; tab-stops: list .25in; text-align: justify; text-indent: -0.25in;"><!--[if !supportLists]--><span style="font-family: Symbol; font-size: 10pt; line-height: 115%; mso-bidi-font-family: Symbol; mso-bidi-font-size: 14.0pt; mso-fareast-font-family: Symbol;">·<span style="font-family: "Times New Roman"; font-size: 7pt; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: normal;">
</span></span><!--[endif]--><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">Yes, the eBook is available for free on
the Ministry of Corporate Affairs' website.<o:p></o:p></span></p><p class="MsoNormal" style="margin-left: 0.25in; mso-list: l17 level1 lfo3; tab-stops: list .25in; text-align: justify; text-indent: -0.25in;"><b><!--[if !supportLists]--><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%; mso-fareast-font-family: "Times New Roman";">2.<span style="font-family: "Times New Roman"; font-size: 7pt; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: normal;"> </span></span><!--[endif]--></b><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;"><b>Can
the eBook be accessed offline?</b><o:p></o:p></span></p><p class="MsoNormal" style="margin-left: 0.25in; mso-list: l11 level1 lfo4; tab-stops: list .25in; text-align: justify; text-indent: -0.25in;"><!--[if !supportLists]--><span style="font-family: Symbol; font-size: 10pt; line-height: 115%; mso-bidi-font-family: Symbol; mso-bidi-font-size: 14.0pt; mso-fareast-font-family: Symbol;">·<span style="font-family: "Times New Roman"; font-size: 7pt; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: normal;">
</span></span><!--[endif]--><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">Yes, the eBook can be downloaded and
accessed offline.<o:p></o:p></span></p><p class="MsoNormal" style="margin-left: 0.25in; mso-list: l10 level1 lfo5; tab-stops: list .25in; text-align: justify; text-indent: -0.25in;"><b><!--[if !supportLists]--><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%; mso-fareast-font-family: "Times New Roman";">3.<span style="font-family: "Times New Roman"; font-size: 7pt; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: normal;"> </span></span><!--[endif]--></b><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;"><b>Does
the eBook contain examples and illustrations?</b><o:p></o:p></span></p><p class="MsoNormal" style="margin-left: 0.25in; mso-list: l2 level1 lfo6; tab-stops: list .25in; text-align: justify; text-indent: -0.25in;"><!--[if !supportLists]--><span style="font-family: Symbol; font-size: 10pt; line-height: 115%; mso-bidi-font-family: Symbol; mso-bidi-font-size: 14.0pt; mso-fareast-font-family: Symbol;">·<span style="font-family: "Times New Roman"; font-size: 7pt; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: normal;"> </span></span><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">Yes, the eBook contains examples and
illustrations to explain the various provisions of the Act.<o:p></o:p></span></p><p class="MsoNormal" style="margin-left: 0.25in; mso-list: l21 level1 lfo7; tab-stops: list .25in; text-align: justify; text-indent: -0.25in;"><b><!--[if !supportLists]--><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%; mso-fareast-font-family: "Times New Roman";">4.<span style="font-family: "Times New Roman"; font-size: 7pt; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: normal;"> </span></span><!--[endif]--></b><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;"><b>Is
the eBook available in languages other than English and Hindi?</b><o:p></o:p></span></p><p class="MsoNormal" style="margin-left: 0.25in; mso-list: l27 level1 lfo8; tab-stops: list .25in; text-align: justify; text-indent: -0.25in;"><!--[if !supportLists]--><span style="font-family: Symbol; font-size: 10pt; line-height: 115%; mso-bidi-font-family: Symbol; mso-bidi-font-size: 14.0pt; mso-fareast-font-family: Symbol;">·<span style="font-family: "Times New Roman"; font-size: 7pt; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: normal;">
</span></span><!--[endif]--><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">No, the eBook is currently available
only in English and Hindi.<o:p></o:p></span></p><p class="MsoNormal" style="margin-left: 0.25in; mso-list: l0 level1 lfo9; tab-stops: list .25in; text-align: justify; text-indent: -0.25in;"><b><!--[if !supportLists]--><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%; mso-fareast-font-family: "Times New Roman";">5.<span style="font-family: "Times New Roman"; font-size: 7pt; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: normal;"> </span></span><!--[endif]--></b><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;"><b>Can
the eBook be used as a substitute for legal advice?</b><o:p></o:p></span></p><p class="MsoNormal" style="margin-left: 0.25in; mso-list: l24 level1 lfo10; tab-stops: list .25in; text-align: justify; text-indent: -0.25in;"><!--[if !supportLists]--><span style="font-family: Symbol; font-size: 10pt; line-height: 115%; mso-bidi-font-family: Symbol; mso-bidi-font-size: 14.0pt; mso-fareast-font-family: Symbol;">·<span style="font-family: "Times New Roman"; font-size: 7pt; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: normal;"> </span></span><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">No, the eBook is not a substitute for
legal advice. It is merely a resource to help individuals and businesses
understand the implications of the Act.<o:p></o:p></span></p><p class="MsoNormal" style="margin-left: 0.25in; mso-list: l16 level1 lfo11; tab-stops: list .25in; text-align: justify; text-indent: -0.25in;"><b><!--[if !supportLists]--><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%; mso-fareast-font-family: "Times New Roman";">6.<span style="font-family: "Times New Roman"; font-size: 7pt; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: normal;"> </span></span><!--[endif]--></b><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;"><b>Who
can benefit from reading the eBook on the Companies Act, 2013?</b><o:p></o:p></span></p><p class="MsoNormal" style="margin-left: 0.25in; mso-list: l19 level1 lfo12; tab-stops: list .25in; text-align: justify; text-indent: -0.25in;"><!--[if !supportLists]--><span style="font-family: Symbol; font-size: 10pt; line-height: 115%; mso-bidi-font-family: Symbol; mso-bidi-font-size: 14.0pt; mso-fareast-font-family: Symbol;">·<span style="font-family: "Times New Roman"; font-size: 7pt; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: normal;"> </span></span><!--[endif]--><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">Anyone who is interested in
understanding the legal framework of companies in India can benefit from
reading the eBook. This includes students, professionals, entrepreneurs, and
investors.<o:p></o:p></span></p><p class="MsoNormal" style="margin-left: 0.25in; mso-list: l25 level1 lfo13; tab-stops: list .25in; text-align: justify; text-indent: -0.25in;"><b><!--[if !supportLists]--><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%; mso-fareast-font-family: "Times New Roman";">7.<span style="font-family: "Times New Roman"; font-size: 7pt; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: normal;"> </span></span><!--[endif]--></b><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;"><b>How
frequently is the eBook updated?</b><o:p></o:p></span></p><p class="MsoNormal" style="margin-left: 0.25in; mso-list: l15 level1 lfo14; tab-stops: list .25in; text-align: justify; text-indent: -0.25in;"><!--[if !supportLists]--><span style="font-family: Symbol; font-size: 10pt; line-height: 115%; mso-bidi-font-family: Symbol; mso-bidi-font-size: 14.0pt; mso-fareast-font-family: Symbol;">·<span style="font-family: "Times New Roman"; font-size: 7pt; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: normal;"> </span></span><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">The Ministry of Corporate Affairs
updates the eBook periodically to reflect any changes in the Companies Act,
2013.<o:p></o:p></span></p><p class="MsoNormal" style="margin-left: 0.25in; mso-list: l20 level1 lfo15; tab-stops: list .25in; text-align: justify; text-indent: -0.25in;"><b><!--[if !supportLists]--><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%; mso-fareast-font-family: "Times New Roman";">8.<span style="font-family: "Times New Roman"; font-size: 7pt; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: normal;"> </span></span><!--[endif]--></b><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;"><b>Is
the eBook easy to read and understand?</b><o:p></o:p></span></p><p class="MsoNormal" style="margin-left: 0.25in; mso-list: l18 level1 lfo16; tab-stops: list .25in; text-align: justify; text-indent: -0.25in;"><!--[if !supportLists]--><span style="font-family: Symbol; font-size: 10pt; line-height: 115%; mso-bidi-font-family: Symbol; mso-bidi-font-size: 14.0pt; mso-fareast-font-family: Symbol;">·<span style="font-family: "Times New Roman"; font-size: 7pt; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: normal;"> </span></span><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">Yes, the eBook is written in a
simplified and user-friendly manner, making it easy to read and understand even
for those who are not well-versed in legal jargon.<o:p></o:p></span></p><p class="MsoNormal" style="margin-left: 0.25in; mso-list: l26 level1 lfo17; tab-stops: list .25in; text-align: justify; text-indent: -0.25in;"><b><!--[if !supportLists]--><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%; mso-fareast-font-family: "Times New Roman";">9.<span style="font-family: "Times New Roman"; font-size: 7pt; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: normal;"> </span></span><!--[endif]--></b><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;"><b>How
can I download the eBook?</b><o:p></o:p></span></p><p class="MsoNormal" style="margin-left: 0.25in; mso-list: l8 level1 lfo18; tab-stops: list .25in; text-align: justify; text-indent: -0.25in;"><!--[if !supportLists]--><span style="font-family: Symbol; font-size: 10pt; line-height: 115%; mso-bidi-font-family: Symbol; mso-bidi-font-size: 14.0pt; mso-fareast-font-family: Symbol;">·<span style="font-family: "Times New Roman"; font-size: 7pt; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: normal;"> </span></span><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">The eBook can be downloaded for free
from the Ministry of Corporate Affairs' website in PDF format.<o:p></o:p></span></p><p class="MsoNormal" style="margin-left: 0.25in; mso-list: l9 level1 lfo19; tab-stops: list .25in; text-align: justify; text-indent: -0.25in;"><b><!--[if !supportLists]--><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%; mso-fareast-font-family: "Times New Roman";">10.<span style="font-family: "Times New Roman"; font-size: 7pt; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: normal;"> </span></span></b><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;"><b>Is the eBook comprehensive in covering
all aspects of the Companies Act, 2013?</b><o:p></o:p></span></p><p class="MsoNormal" style="margin-left: 0.25in; mso-list: l23 level1 lfo20; tab-stops: list .25in; text-align: justify; text-indent: -0.25in;"><!--[if !supportLists]--><span style="font-family: Symbol; font-size: 10pt; line-height: 115%; mso-bidi-font-family: Symbol; mso-bidi-font-size: 14.0pt; mso-fareast-font-family: Symbol;">·<span style="font-family: "Times New Roman"; font-size: 7pt; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: normal;"> </span></span><!--[endif]--><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">Yes, the eBook provides a comprehensive
explanation of the various provisions of the Act, making it an excellent
resource for anyone who wants to understand the Act's implications fully.<o:p></o:p></span></p><p class="MsoNormal" style="margin-left: 0.25in; mso-list: l1 level1 lfo21; tab-stops: list .25in; text-align: justify; text-indent: -0.25in;"><b><!--[if !supportLists]--><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%; mso-fareast-font-family: "Times New Roman";">11.<span style="font-family: "Times New Roman"; font-size: 7pt; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: normal;"> </span></span></b><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;"><b>Are there any restrictions on the use of
the eBook?</b><o:p></o:p></span></p><p class="MsoNormal" style="margin-left: 0.25in; mso-list: l6 level1 lfo22; tab-stops: list .25in; text-align: justify; text-indent: -0.25in;"><!--[if !supportLists]--><span style="font-family: Symbol; font-size: 10pt; line-height: 115%; mso-bidi-font-family: Symbol; mso-bidi-font-size: 14.0pt; mso-fareast-font-family: Symbol;">·<span style="font-family: "Times New Roman"; font-size: 7pt; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: normal;"> </span></span><!--[endif]--><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">No, there are no restrictions on the use
of the eBook. It can be downloaded and used freely by anyone.<o:p></o:p></span></p><p class="MsoNormal" style="margin-left: 0.25in; mso-list: l14 level1 lfo23; tab-stops: list .25in; text-align: justify; text-indent: -0.25in;"><b><!--[if !supportLists]--><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%; mso-fareast-font-family: "Times New Roman";">12.<span style="font-family: "Times New Roman"; font-size: 7pt; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: normal;"> </span></span></b><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;"><b>Can the eBook be shared with others?</b><o:p></o:p></span></p><p class="MsoNormal" style="margin-left: 0.25in; mso-list: l7 level1 lfo24; tab-stops: list .25in; text-align: justify; text-indent: -0.25in;"><!--[if !supportLists]--><span style="font-family: Symbol; font-size: 10pt; line-height: 115%; mso-bidi-font-family: Symbol; mso-bidi-font-size: 14.0pt; mso-fareast-font-family: Symbol;">·<span style="font-family: "Times New Roman"; font-size: 7pt; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: normal;"> </span></span><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">Yes, the eBook can be shared with
others, as long as it is not used for commercial purposes.<o:p></o:p></span></p><p class="MsoNormal" style="margin-left: 0.25in; mso-list: l3 level1 lfo25; tab-stops: list .25in; text-align: justify; text-indent: -0.25in;"><b><!--[if !supportLists]--><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%; mso-fareast-font-family: "Times New Roman";">13.<span style="font-family: "Times New Roman"; font-size: 7pt; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: normal;"> </span></span></b><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;"><b>Is the eBook available in print format?</b><o:p></o:p></span></p><p class="MsoNormal" style="margin-left: 0.25in; mso-list: l12 level1 lfo26; tab-stops: list .25in; text-align: justify; text-indent: -0.25in;"><!--[if !supportLists]--><span style="font-family: Symbol; font-size: 10pt; line-height: 115%; mso-bidi-font-family: Symbol; mso-bidi-font-size: 14.0pt; mso-fareast-font-family: Symbol;">·<span style="font-family: "Times New Roman"; font-size: 7pt; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: normal;">
</span></span><!--[endif]--><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">No, the eBook is currently available
only in digital format.<o:p></o:p></span></p><p class="MsoNormal" style="margin-left: 0.25in; mso-list: l13 level1 lfo27; tab-stops: list .25in; text-align: justify; text-indent: -0.25in;"><b><!--[if !supportLists]--><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%; mso-fareast-font-family: "Times New Roman";">14.<span style="font-family: "Times New Roman"; font-size: 7pt; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: normal;"> </span></span></b><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;"><b>Can I use the eBook for academic or
research purposes?</b><o:p></o:p></span></p><p class="MsoNormal" style="text-align: justify;">
</p><p class="MsoNormal" style="margin-left: 0.25in; mso-list: l22 level1 lfo28; tab-stops: list .25in; text-align: justify; text-indent: -0.25in;"><!--[if !supportLists]--><span style="font-family: Symbol; font-size: 10pt; line-height: 115%; mso-bidi-font-family: Symbol; mso-bidi-font-size: 14.0pt; mso-fareast-font-family: Symbol;">·<span style="font-family: "Times New Roman"; font-size: 7pt; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: normal;"> </span></span><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">Yes, the eBook can be used for academic
or research purposes, as long as the appropriate references are cited.<o:p></o:p></span></p><ul style="margin-top: 0in;" type="disc">
</ul>
<script>mbtTOC();</script>
<script type="application/ld+json">{"@context":"https://schema.org","@type":"FAQPage","mainEntity":[{"@type":"Question","name":" Is the eBook on the Companies Act, 2013 available for free?","acceptedAnswer":{"@type":"Answer","text":"Yes, the eBook is available for free on the Ministry of Corporate Affairs' website."}},{"@type":"Question","name":"Who can benefit from reading the eBook on the Companies Act, 2013?","acceptedAnswer":{"@type":"Answer","text":"Anyone who is interested in understanding the legal framework of companies in India can benefit from reading the eBook. This includes students, professionals, entrepreneurs, and investors."}},{"@type":"Question","name":"How frequently is the eBook updated?","acceptedAnswer":{"@type":"Answer","text":"The Ministry of Corporate Affairs updates the eBook periodically to reflect any changes in the Companies Act, 2013."}},{"@type":"Question","name":"Is the eBook comprehensive in covering all aspects of the Companies Act, 2013?","acceptedAnswer":{"@type":"Answer","text":"Yes, the eBook provides a comprehensive explanation of the various provisions of the Act, making it an excellent resource for anyone who wants to understand the Act's implications fully."}}]}</script><!--FAQPage Code Generated by https://saijogeorge.com/json-ld-schema-generator/faq/-->CS Ashish Jainhttp://www.blogger.com/profile/00427323626525507645noreply@blogger.comIndia20.593684 78.96288-7.7165498361788458 43.80663 48.903917836178849 114.11913tag:blogger.com,1999:blog-5686816402528651075.post-6649773935893858112023-02-28T01:57:00.005+05:302023-02-28T13:46:45.334+05:30What Is Void Agreement With Example<p style="text-align: center;"></p><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhYS1xuZLWf7yk4xihYJGE79HWeUQwxheiiSjfepvkPUjN8J9kIr7eXOB-aaLn6eXCQdoQYdmaIE4VKm8_b-3TBvboeOzE1t_X_Zjv9ucLEhN236Budz0zI73FMvffpwbJ-NQwVN_Vr2xC4tdUDeStG1Y9_dZGkxW1xd9zq4ECSP5eAdkJZCJFdzbXx/s297/void-agreement-example.jpg" style="margin-left: 1em; margin-right: 1em;"><img alt="void-agreement-example" border="0" data-original-height="170" data-original-width="297" height="183" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhYS1xuZLWf7yk4xihYJGE79HWeUQwxheiiSjfepvkPUjN8J9kIr7eXOB-aaLn6eXCQdoQYdmaIE4VKm8_b-3TBvboeOzE1t_X_Zjv9ucLEhN236Budz0zI73FMvffpwbJ-NQwVN_Vr2xC4tdUDeStG1Y9_dZGkxW1xd9zq4ECSP5eAdkJZCJFdzbXx/w320-h183/void-agreement-example.jpg" title="What Is Void Agreement With Example" width="320" /></a></div><br /><p></p><span><a name='more'></a></span><p></p>
<div class="mbtTOC">
<button onclick="mbtToggle()"><span style="font-family: times; font-size: large;">Table Of Contents</span></button></div>
<h1 style="text-align: center;"><b style="mso-bidi-font-weight: normal;"><span style="font-family: "Times New Roman", "serif"; line-height: 115%;"><span style="color: red; font-size: x-large;">What
Is Void Agreement With Example</span></span></b></h1>
<p class="MsoNormal" style="text-align: justify;"><span style="font-family: times; font-size: large; line-height: 115%;">Agreements or contracts
form the backbone of every transaction in business and personal dealings.
However, not all contracts are enforceable in a court of law. Some contracts
may be void, which means that they have no legal effect, and neither party can
seek legal remedies in case of a breach. In this article, we will explore what
void agreements are, how they differ from voidable agreements, and what makes
them unenforceable.<o:p></o:p></span></p>
<h2 style="text-align: justify;"><b style="mso-bidi-font-weight: normal;"><span style="line-height: 115%;"><span style="color: red; font-family: times; font-size: large;">What
is a Void Agreement?</span></span></b></h2>
<p class="MsoNormal" style="text-align: justify;"><span style="font-family: times; font-size: large; line-height: 115%;">A void agreement is a
contract that is considered to be null and void from the beginning, as if it
never existed. Such agreements are legally ineffective, and the parties to the
agreement cannot enforce them in a court of law. In simple terms, a void
agreement is one that is not enforceable, and no legal rights arise from it.<o:p></o:p></span></p>
<p class="MsoNormal" style="text-align: justify;"><span style="font-family: times; font-size: large; line-height: 115%;">A void agreement may
arise due to various reasons, including illegality, impossibility, or lack of
capacity to contract. Let's examine each of these reasons in detail.<o:p></o:p></span></p>
<div style="text-align: justify;"><b style="mso-bidi-font-weight: normal;"><span style="color: red; font-family: times; font-size: large; line-height: 115%;">Illegality:</span></b></div>
<p class="MsoNormal" style="text-align: justify;"><span style="font-family: times; font-size: large; line-height: 115%;">An agreement may be
considered void if it violates any law or is against public policy. For
example, an agreement to commit a crime, sell illegal drugs, or engage in
prostitution is void. Similarly, an agreement to defraud someone or to deprive
them of their legal rights is also void.<o:p></o:p></span></p>
<div style="text-align: justify;"><b style="mso-bidi-font-weight: normal;"><span style="color: red; font-family: times; font-size: large; line-height: 115%;">Impossibility:</span></b></div>
<p class="MsoNormal" style="text-align: justify;"><span style="font-family: times; font-size: large; line-height: 115%;">An agreement may be
considered void if it is impossible to perform. For example, an agreement to
sell a car that has already been destroyed in an accident is void. Similarly,
an agreement to marry a dead person is void.<o:p></o:p></span></p>
<div style="text-align: justify;"><b style="mso-bidi-font-weight: normal;"><span style="color: red; font-family: times; font-size: large; line-height: 115%;">Lack
of capacity to contract:</span></b></div>
<p class="MsoNormal" style="text-align: justify;"><span style="font-family: times; font-size: large; line-height: 115%;">An agreement may be
considered void if one or both parties lack the capacity to contract. For
example, a minor is not legally capable of entering into a contract, and any
agreement made with a minor is void. Similarly, a person who is mentally ill or
intoxicated cannot enter into a contract, and any agreement made with them is
void.<o:p></o:p></span></p>
<p class="MsoNormal" style="text-align: justify;"><b style="mso-bidi-font-weight: normal;"><span style="line-height: 115%;"><span style="color: red; font-family: times; font-size: large;"><br /></span></span></b></p><h2 style="text-align: justify;"><b style="mso-bidi-font-weight: normal;"><span style="line-height: 115%;"><span style="color: red; font-family: times; font-size: large;">Types
of void agreement</span></span></b></h2>
<p class="MsoNormal" style="text-align: justify;"><span style="font-family: times; font-size: large; line-height: 115%;">There are different
types of void agreements, which are null and void from the beginning and have
no legal effect. These include:<o:p></o:p></span></p>
<p class="MsoNormal" style="margin-left: 0.25in; mso-list: l3 level1 lfo2; tab-stops: list .25in; text-align: justify; text-indent: -0.25in;"><span style="font-family: times; font-size: large;"><!--[if !supportLists]--><span style="line-height: 115%; mso-fareast-font-family: "Times New Roman";"><span style="mso-list: Ignore;">1.<span style="font-stretch: normal; font-style: normal; font-variant: normal; font-weight: normal; line-height: normal;"> </span></span></span><span style="line-height: 115%;">Agreements
in restraint of marriage: Agreements that restrict a person's right to marry
are considered void.<o:p></o:p></span></span></p>
<p class="MsoNormal" style="margin-left: 0.25in; mso-list: l3 level1 lfo2; tab-stops: list .25in; text-align: justify; text-indent: -0.25in;"><span style="font-family: times; font-size: large;"><!--[if !supportLists]--><span style="line-height: 115%; mso-fareast-font-family: "Times New Roman";"><span style="mso-list: Ignore;">2. </span></span><span style="line-height: 115%;">Agreements
in restraint of trade: Agreements that restrict a person's right to carry on a
trade or profession are considered void, except in certain limited
circumstances.<o:p></o:p></span></span></p>
<p class="MsoNormal" style="margin-left: 0.25in; mso-list: l3 level1 lfo2; tab-stops: list .25in; text-align: justify; text-indent: -0.25in;"><span style="font-family: times; font-size: large;"><!--[if !supportLists]--><span style="line-height: 115%; mso-fareast-font-family: "Times New Roman";"><span style="mso-list: Ignore;">3.<span style="font-stretch: normal; font-style: normal; font-variant: normal; font-weight: normal; line-height: normal;"> </span></span></span><!--[endif]--><span style="line-height: 115%;">Agreements
with a minor: Agreements with a person who is under the age of 18 years are
considered void, except in certain circumstances.<o:p></o:p></span></span></p>
<p class="MsoNormal" style="margin-left: 0.25in; mso-list: l3 level1 lfo2; tab-stops: list .25in; text-align: justify; text-indent: -0.25in;"><span style="font-family: times; font-size: large;"><!--[if !supportLists]--><span style="line-height: 115%; mso-fareast-font-family: "Times New Roman";"><span style="mso-list: Ignore;">4.<span style="font-stretch: normal; font-style: normal; font-variant: normal; font-weight: normal; line-height: normal;"> </span></span></span><span style="line-height: 115%;">Agreements
made under coercion or undue influence: Agreements made under coercion or undue
influence are considered voidable at the option of the aggrieved party.<o:p></o:p></span></span></p>
<p class="MsoNormal" style="margin-left: 0.25in; mso-list: l3 level1 lfo2; tab-stops: list .25in; text-align: justify; text-indent: -0.25in;"><span style="font-family: times; font-size: large;"><!--[if !supportLists]--><span style="line-height: 115%; mso-fareast-font-family: "Times New Roman";"><span style="mso-list: Ignore;">5.<span style="font-stretch: normal; font-style: normal; font-variant: normal; font-weight: normal; line-height: normal;"> </span></span></span><span style="line-height: 115%;">Agreements
with unlawful consideration: Agreements made for an unlawful consideration or
object are considered void.<o:p></o:p></span></span></p>
<p class="MsoNormal" style="margin-left: 0.25in; mso-list: l3 level1 lfo2; tab-stops: list .25in; text-align: justify; text-indent: -0.25in;"><span style="font-family: times; font-size: large;"><!--[if !supportLists]--><span style="line-height: 115%; mso-fareast-font-family: "Times New Roman";"><span style="mso-list: Ignore;">6.<span style="font-stretch: normal; font-style: normal; font-variant: normal; font-weight: normal; line-height: normal;"> </span></span></span><span style="line-height: 115%;">Agreements
to commit a crime: Agreements to commit a crime or to engage in any illegal
activity are considered void.<o:p></o:p></span></span></p>
<p class="MsoNormal" style="margin-left: 0.25in; mso-list: l3 level1 lfo2; tab-stops: list .25in; text-align: justify; text-indent: -0.25in;"><span style="font-family: times; font-size: large;"><!--[if !supportLists]--><span style="line-height: 115%; mso-fareast-font-family: "Times New Roman";"><span style="mso-list: Ignore;">7.<span style="font-stretch: normal; font-style: normal; font-variant: normal; font-weight: normal; line-height: normal;"> </span></span></span><span style="line-height: 115%;">Agreements
in restraint of legal proceedings: Agreements that restrict a person's right to
initiate legal proceedings are considered void.<o:p></o:p></span></span></p>
<p class="MsoNormal" style="margin-left: 0.25in; mso-list: l3 level1 lfo2; tab-stops: list .25in; text-align: justify; text-indent: -0.25in;"><span style="font-family: times; font-size: large;"><!--[if !supportLists]--><span style="line-height: 115%; mso-fareast-font-family: "Times New Roman";"><span style="mso-list: Ignore;">8.<span style="font-stretch: normal; font-style: normal; font-variant: normal; font-weight: normal; line-height: normal;"> </span></span></span><span style="line-height: 115%;">Agreements
that are impossible to perform: Agreements that are impossible to perform due
to their nature or terms are considered void.<o:p></o:p></span></span></p>
<p class="MsoNormal" style="margin-left: 0.25in; mso-list: l3 level1 lfo2; tab-stops: list .25in; text-align: justify; text-indent: -0.25in;"><span style="font-family: times; font-size: large;"><!--[if !supportLists]--><span style="line-height: 115%; mso-fareast-font-family: "Times New Roman";"><span style="mso-list: Ignore;">9.<span style="font-stretch: normal; font-style: normal; font-variant: normal; font-weight: normal; line-height: normal;"> </span></span></span><span style="line-height: 115%;">Agreements
against public policy: Agreements that are against public policy or morals are
considered void.<o:p></o:p></span></span></p>
<p class="MsoNormal" style="text-align: justify;"><span style="font-family: times; font-size: large; line-height: 115%;">It is important to note
that the legal implications of a void agreement may vary depending on the
jurisdiction and the specific circumstances of the case.<o:p></o:p></span></p>
<p class="MsoNormal" style="text-align: justify;"><b style="mso-bidi-font-weight: normal;"><span style="font-family: times; font-size: large; line-height: 115%;"><o:p> </o:p></span></b></p>
<h2 style="text-align: justify;"><b style="mso-bidi-font-weight: normal;"><span style="line-height: 115%;"><span style="color: red; font-family: times; font-size: large;">How
is a Void Agreement Different from a Voidable Agreement?</span></span></b></h2>
<p class="MsoNormal" style="text-align: justify;"><span style="font-family: times; font-size: large; line-height: 115%;">A void agreement is
different from a voidable agreement, which is a contract that can be either
affirmed or rejected by one or both parties. A voidable agreement is valid
until it is rescinded or canceled by one of the parties. For example, a
contract entered into under duress or coercion is voidable, as the party under
duress can choose to either affirm or reject the contract.<o:p></o:p></span></p>
<p class="MsoNormal" style="text-align: justify;"><span style="font-family: times; font-size: large; line-height: 115%;">On the other hand, a
void agreement is null and void from the beginning and cannot be enforced by
either party. There is no need to rescind or cancel a void agreement, as it has
no legal effect in the first place.<o:p></o:p></span></p>
<p class="MsoNormal" style="text-align: justify;"><b style="mso-bidi-font-weight: normal;"><span style="font-family: times; font-size: large; line-height: 115%;"><o:p> </o:p></span></b></p>
<h2 style="text-align: justify;"><b style="mso-bidi-font-weight: normal;"><span style="line-height: 115%;"><span style="color: red; font-family: times; font-size: large;">Examples
of Void Agreements:</span></span></b></h2>
<p class="MsoNormal" style="text-align: justify;"><span style="font-family: times; font-size: large; line-height: 115%;">Some common examples of
void agreements include:<o:p></o:p></span></p>
<p class="MsoNormal" style="margin-left: 0.5in; mso-list: l0 level1 lfo1; tab-stops: list 22.5pt; text-align: justify; text-indent: -0.5in;"><span style="font-family: times; font-size: large;"><!--[if !supportLists]--><span style="line-height: 115%; mso-fareast-font-family: "Times New Roman";"><span style="mso-list: Ignore;">1.<span style="font-stretch: normal; font-style: normal; font-variant: normal; font-weight: normal; line-height: normal;"> </span></span></span><!--[endif]--><span style="line-height: 115%;">An agreement to commit a crime or engage
in illegal activities.<o:p></o:p></span></span></p>
<p class="MsoNormal" style="margin-left: 0.5in; mso-list: l0 level1 lfo1; tab-stops: list 22.5pt; text-align: justify; text-indent: -0.5in;"><span style="font-family: times; font-size: large;"><!--[if !supportLists]--><span style="line-height: 115%; mso-fareast-font-family: "Times New Roman";"><span style="mso-list: Ignore;">2.<span style="font-stretch: normal; font-style: normal; font-variant: normal; font-weight: normal; line-height: normal;"> </span></span></span><span style="line-height: 115%;">An agreement to sell stolen property.<o:p></o:p></span></span></p>
<p class="MsoNormal" style="margin-left: 0.5in; mso-list: l0 level1 lfo1; tab-stops: list 22.5pt; text-align: justify; text-indent: -0.5in;"><span style="font-family: times; font-size: large;"><!--[if !supportLists]--><span style="line-height: 115%; mso-fareast-font-family: "Times New Roman";"><span style="mso-list: Ignore;">3.<span style="font-stretch: normal; font-style: normal; font-variant: normal; font-weight: normal; line-height: normal;"> </span></span></span><span style="line-height: 115%;">An agreement to marry a dead person.<o:p></o:p></span></span></p>
<p class="MsoNormal" style="margin-left: 0.5in; mso-list: l0 level1 lfo1; tab-stops: list 22.5pt; text-align: justify; text-indent: -0.5in;"><span style="font-family: times; font-size: large;"><!--[if !supportLists]--><span style="line-height: 115%; mso-fareast-font-family: "Times New Roman";"><span style="mso-list: Ignore;">4.<span style="font-stretch: normal; font-style: normal; font-variant: normal; font-weight: normal; line-height: normal;"> </span></span></span><span style="line-height: 115%;">An agreement to perform an impossible
task.<o:p></o:p></span></span></p>
<p class="MsoNormal" style="margin-left: 0.5in; mso-list: l0 level1 lfo1; tab-stops: list 22.5pt; text-align: justify; text-indent: -0.5in;"><span style="font-family: times; font-size: large;"><!--[if !supportLists]--><span style="line-height: 115%; mso-fareast-font-family: "Times New Roman";"><span style="mso-list: Ignore;">5.<span style="font-stretch: normal; font-style: normal; font-variant: normal; font-weight: normal; line-height: normal;"> </span></span></span><span style="line-height: 115%;">An agreement with a minor or someone who
lacks the capacity to contract.<o:p></o:p></span></span></p>
<p class="MsoNormal" style="margin-left: 0.5in; mso-list: l0 level1 lfo1; tab-stops: list 22.5pt; text-align: justify; text-indent: -0.5in;"><span style="font-family: times; font-size: large;"><!--[if !supportLists]--><span style="line-height: 115%; mso-fareast-font-family: "Times New Roman";"><span style="mso-list: Ignore;">6.<span style="font-stretch: normal; font-style: normal; font-variant: normal; font-weight: normal; line-height: normal;"> </span></span></span><span style="line-height: 115%;">An agreement to defraud someone.<o:p></o:p></span></span></p>
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<p class="MsoNormal" style="text-align: justify;"><span style="font-family: times; font-size: large; line-height: 115%;"><o:p> </o:p></span></p>
<h2 style="text-align: justify;"><b style="mso-bidi-font-weight: normal;"><span style="line-height: 115%;"><span style="color: red; font-family: times; font-size: large;">FAQs related to Void Agreements:</span></span></b></h2>
<p class="MsoNormal" style="margin-left: 0.25in; mso-list: l4 level1 lfo3; tab-stops: list .25in; text-align: justify; text-indent: -0.25in;"><span style="font-family: times; font-size: large;"><!--[if !supportLists]--><b style="mso-bidi-font-weight: normal;"><span style="line-height: 115%; mso-fareast-font-family: "Times New Roman";"><span style="mso-list: Ignore;">1.<span style="font-stretch: normal; font-style: normal; font-variant: normal; font-weight: normal; line-height: normal;"> </span></span></span></b><!--[endif]--><b style="mso-bidi-font-weight: normal;"><span style="line-height: 115%;">What
is a void agreement?<o:p></o:p></span></b></span></p>
<p class="MsoNormal" style="margin-left: 0.25in; tab-stops: list .25in; text-align: justify; text-indent: -0.25in;"><span style="font-family: times; font-size: large; line-height: 115%;"><span style="mso-tab-count: 1;"> </span>A
void agreement is an agreement that is considered null and void from the
beginning and has no legal effect. It is essentially an agreement that is not
enforceable by law.<o:p></o:p></span></p>
<p class="MsoNormal" style="margin-left: 0.25in; mso-list: l8 level1 lfo4; tab-stops: list .25in; text-align: justify; text-indent: -0.25in;"><span style="font-family: times; font-size: large;"><!--[if !supportLists]--><b style="mso-bidi-font-weight: normal;"><span style="line-height: 115%; mso-fareast-font-family: "Times New Roman";"><span style="mso-list: Ignore;">2.<span style="font-stretch: normal; font-style: normal; font-variant: normal; font-weight: normal; line-height: normal;"> </span></span></span></b><b style="mso-bidi-font-weight: normal;"><span style="line-height: 115%;">What
is the difference between void and voidable agreements?<o:p></o:p></span></b></span></p>
<p class="MsoNormal" style="margin-left: 0.25in; tab-stops: list .25in; text-align: justify; text-indent: -0.25in;"><span style="font-family: times; font-size: large; line-height: 115%;"><span style="mso-tab-count: 1;"> </span>A
void agreement is one that is completely null and void from the beginning and
has no legal effect. A voidable agreement, on the other hand, is an agreement
that is initially valid but can be voided or canceled by one of the parties due
to certain legal reasons, such as fraud, misrepresentation, or coercion.<o:p></o:p></span></p>
<p class="MsoNormal" style="margin-left: 0.25in; mso-list: l1 level1 lfo5; tab-stops: list .25in; text-align: justify; text-indent: -0.25in;"><span style="font-family: times; font-size: large;"><!--[if !supportLists]--><b style="mso-bidi-font-weight: normal;"><span style="line-height: 115%; mso-fareast-font-family: "Times New Roman";"><span style="mso-list: Ignore;">3.<span style="font-stretch: normal; font-style: normal; font-variant: normal; font-weight: normal; line-height: normal;"> </span></span></span></b><b style="mso-bidi-font-weight: normal;"><span style="line-height: 115%;">Can
a void agreement be enforced in court?<o:p></o:p></span></b></span></p>
<p class="MsoNormal" style="margin-left: 0.25in; tab-stops: list .25in; text-align: justify; text-indent: -0.25in;"><span style="font-family: times; font-size: large; line-height: 115%;"><span style="mso-tab-count: 1;"> </span>No,
a void agreement cannot be enforced in court because it is considered null and
void from the beginning and has no legal effect.<o:p></o:p></span></p>
<p class="MsoNormal" style="margin-left: 0.25in; mso-list: l6 level1 lfo6; tab-stops: list .25in; text-align: justify; text-indent: -0.25in;"><span style="font-family: times; font-size: large;"><!--[if !supportLists]--><b style="mso-bidi-font-weight: normal;"><span style="line-height: 115%; mso-fareast-font-family: "Times New Roman";"><span style="mso-list: Ignore;">4.<span style="font-stretch: normal; font-style: normal; font-variant: normal; font-weight: normal; line-height: normal;"> </span></span></span></b><b style="mso-bidi-font-weight: normal;"><span style="line-height: 115%;">What
are the common types of void agreements?<o:p></o:p></span></b></span></p>
<p class="MsoNormal" style="margin-left: 0.25in; tab-stops: list .25in; text-align: justify; text-indent: -0.25in;"><span style="font-family: times; font-size: large; line-height: 115%;"><span style="mso-tab-count: 1;"> </span>There
are different types of void agreements, which include agreements in restraint
of marriage, trade, or legal proceedings, agreements with a minor, agreements
made under coercion or undue influence, agreements with unlawful consideration,
agreements to commit a crime, agreements that are impossible to perform, and
agreements against public policy.<o:p></o:p></span></p>
<p class="MsoNormal" style="margin-left: 0.25in; mso-list: l7 level1 lfo7; tab-stops: list .25in; text-align: justify; text-indent: -0.25in;"><span style="font-family: times; font-size: large;"><!--[if !supportLists]--><b style="mso-bidi-font-weight: normal;"><span style="line-height: 115%; mso-fareast-font-family: "Times New Roman";"><span style="mso-list: Ignore;">5.<span style="font-stretch: normal; font-style: normal; font-variant: normal; font-weight: normal; line-height: normal;"> </span></span></span></b><b style="mso-bidi-font-weight: normal;"><span style="line-height: 115%;">What
are the legal implications of a void agreement?<o:p></o:p></span></b></span></p>
<p class="MsoNormal" style="margin-left: 0.25in; tab-stops: list .25in; text-align: justify; text-indent: -0.25in;"><span style="font-family: times; font-size: large; line-height: 115%;"><span style="mso-tab-count: 1;"> </span>A
void agreement has no legal effect, which means that it cannot be enforced in
court or used to create legal obligations. However, parties may still be liable
for any damages or losses caused by their actions or conduct in relation to the
void agreement.<o:p></o:p></span></p>
<p class="MsoNormal" style="margin-left: 0.25in; mso-list: l2 level1 lfo8; tab-stops: list .25in; text-align: justify; text-indent: -0.25in;"><span style="font-family: times; font-size: large;"><!--[if !supportLists]--><b style="mso-bidi-font-weight: normal;"><span style="line-height: 115%; mso-fareast-font-family: "Times New Roman";"><span style="mso-list: Ignore;">6.<span style="font-stretch: normal; font-style: normal; font-variant: normal; font-weight: normal; line-height: normal;"> </span></span></span></b><b style="mso-bidi-font-weight: normal;"><span style="line-height: 115%;">Can
a void agreement be ratified?<o:p></o:p></span></b></span></p>
<p class="MsoNormal" style="margin-left: 0.25in; tab-stops: list .25in; text-align: justify; text-indent: -0.25in;"><span style="font-family: times; font-size: large; line-height: 115%;"><span style="mso-tab-count: 1;"> </span>No,
a void agreement cannot be ratified because it is considered null and void from
the beginning and has no legal effect. Ratification can only be done for
agreements that are initially valid but may be voidable due to certain legal
reasons.<o:p></o:p></span></p>
<p class="MsoNormal" style="margin-left: 0.25in; mso-list: l5 level1 lfo9; tab-stops: list .25in; text-align: justify; text-indent: -0.25in;"><span style="font-family: times; font-size: large;"><!--[if !supportLists]--><b style="mso-bidi-font-weight: normal;"><span style="line-height: 115%; mso-fareast-font-family: "Times New Roman";"><span style="mso-list: Ignore;">7.<span style="font-stretch: normal; font-style: normal; font-variant: normal; font-weight: normal; line-height: normal;"> </span></span></span></b><b style="mso-bidi-font-weight: normal;"><span style="line-height: 115%;">How
can one avoid entering into a void agreement?<o:p></o:p></span></b></span></p>
<p class="MsoNormal" style="margin-left: 0.25in; tab-stops: list .25in; text-align: justify; text-indent: -0.25in;"><span style="font-family: times; font-size: large; line-height: 115%;"><span style="mso-tab-count: 1;"> </span>One
can avoid entering into a void agreement by ensuring that the agreement is
legally valid and enforceable, seeking legal advice before signing any
agreement, and ensuring that all parties have the legal capacity to enter into
the agreement.<o:p></o:p></span></p>
<p class="MsoNormal" style="text-align: justify;"><span style="font-family: times; font-size: large;"><br /></span></p>
<h2 style="text-align: justify;"><b style="mso-bidi-font-weight: normal;"><span style="line-height: 115%;"><span style="color: red; font-family: times; font-size: large;">Conclusion:</span></span></b></h2>
<p class="MsoNormal" style="text-align: justify;"><span style="font-family: times; font-size: large; line-height: 115%;"><b>In conclusion, a void
agreement is one that is null and void from the beginning and has no legal
effect. Such agreements arise due to various reasons, including illegality,
impossibility, or lack of capacity to contract. It is essential to be aware of
the reasons that can make an agreement void to avoid any legal implications.</b></span></p><p> <script>mbtTOC();</script> </p>
<script>mbtTOC();</script>CS Ashish Jainhttp://www.blogger.com/profile/00427323626525507645noreply@blogger.comUnited States37.09024 -95.7128918.780006163821156 -130.869141 65.400473836178847 -60.556641tag:blogger.com,1999:blog-5686816402528651075.post-67427938508269878322021-08-28T21:00:00.003+05:302023-02-14T13:17:38.044+05:30Board Resolution To Approve Loan Application<h2 style="text-align: center;"><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhg9NcSkFwShEjpJ9ERRuNGRENJSzTnmx4Jqzl91iruGRugjgVrKU2_YRO1BJqOveJqw7k3PWjOcS56b_EbVOF3z1xIj7LQhpS5sfd2XWG0x69_LzrXiLLOnwM8kLFjWARK26tjpc5IdBQdeK9jxUG7Ki5M3cMlzeWAUdGpL2Y_oUh5RXPoIhyP5mIf/s262/BOARD-RESOLUTION-APPROVAL-LOAN-APPLICATION.webp" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img alt="Board-Resolution-Approve-Loan-Application" border="0" data-original-height="176" data-original-width="262" height="215" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhg9NcSkFwShEjpJ9ERRuNGRENJSzTnmx4Jqzl91iruGRugjgVrKU2_YRO1BJqOveJqw7k3PWjOcS56b_EbVOF3z1xIj7LQhpS5sfd2XWG0x69_LzrXiLLOnwM8kLFjWARK26tjpc5IdBQdeK9jxUG7Ki5M3cMlzeWAUdGpL2Y_oUh5RXPoIhyP5mIf/w320-h215/BOARD-RESOLUTION-APPROVAL-LOAN-APPLICATION.webp" title="Board Resolution To Approve Loan Application" width="320" /></a></div><div class="separator" style="clear: both; text-align: center;"><b><span style="font-family: "Times New Roman", serif;"><span style="color: red; font-size: x-large;">Board
Resolution To Approve Loan Application</span></span></b></div></h2><p class="MsoNormal" style="line-height: normal; margin-bottom: 0in; mso-layout-grid-align: none; text-align: justify; text-autospace: none;"><span style="font-size: large;"><span style="font-family: "Times New Roman", serif;">"</span><b style="font-family: "Times New Roman", serif;">RESOLVED
THAT </b><span style="font-family: "Times New Roman", serif;">the making of loan application to the __________ on behalf of the
Company be and is hereby approved and confirmed."</span></span></p><p class="MsoNormal" style="line-height: normal; margin-bottom: 0in; mso-layout-grid-align: none; text-align: justify; text-autospace: none;"><span style="font-size: large;"><span style="font-family: "Times New Roman", serif;">"</span><b style="font-family: "Times New Roman", serif;">RESOLVED
FURTHER THAT </b><span style="font-family: "Times New Roman", serif;">the terms and conditions on which by the aforesaid letter, the
_____________ has signified its willingness to advance a loan of an amount not
exceeding Rs. ______ (Rupees ______ only) to the Company be and are hereby
approved unconditionally and accepted."</span></span></p><p class="MsoNormal" style="line-height: normal; margin-bottom: 0in; mso-layout-grid-align: none; text-align: justify; text-autospace: none;"><span style="font-family: "Times New Roman", serif;"><span style="font-size: large;">"<b>RESOLVED
FURTHER THAT </b>the unconditional acceptance of the said terms and conditions
be communicated to the said ________ by Mr. ______, Director for and on behalf
of the Company."</span></span></p><p class="MsoNormal" style="line-height: normal; margin-bottom: 0in; mso-layout-grid-align: none; text-align: justify; text-autospace: none;"><span style="font-family: "Times New Roman", serif;"><span style="font-size: large;">"<b>RESOLVED
FURTHER THAT </b>as per terms and conditions accepted, as aforesaid, mortgage
deed for a consideration not exceeding Rs. ______ (Rupees ____ only) in respect
of the asssets of the company mentioned in the said _________ letter aforesaid
be executed under the Common Seal, if any, of the Company in favour of the said
Corporation by Mr. _____ who shall execute and sign the said mortgage deed in
the name and on behalf of the company. The Common Seal, if any, of the company
shall be affixed to the said mortgage deed in the presence of the above named
person(s) who shall sign the said mortgage deed, present the same for
registration before the registering authority and admit execution thereof and
receive consideration thereafter, and do all other acts in relation or
incidental to the transaction including the signing of all relevant papers and
documents."</span></span></p>CS Ashish Jainhttp://www.blogger.com/profile/00427323626525507645noreply@blogger.comtag:blogger.com,1999:blog-5686816402528651075.post-1923447271231193272021-08-28T20:08:00.000+05:302021-08-28T20:08:16.319+05:30Board Resolution For Formation of Share Transfer Committee<div style="text-align: center;"><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiBGN4B0k5DAKc3fNhpU-r3PT3AjbaIVZtSxPncm-XaxynanH6sk8px1utfSH_KW1RPKLlu9Vtf3ouJhZRVpiqIFNsqOMdAl5eBsXzrEvdHH8rn7T1wpBkCk9cgwxi8UdEwt-AQbONZUVg/s200/board-resolution-formation-share-transfer-committee.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img alt="Board-Resolution-formation-Share-Transfer-Committee" border="0" data-original-height="149" data-original-width="200" height="238" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiBGN4B0k5DAKc3fNhpU-r3PT3AjbaIVZtSxPncm-XaxynanH6sk8px1utfSH_KW1RPKLlu9Vtf3ouJhZRVpiqIFNsqOMdAl5eBsXzrEvdHH8rn7T1wpBkCk9cgwxi8UdEwt-AQbONZUVg/w320-h238/board-resolution-formation-share-transfer-committee.jpg" title="Board Resolution For Formation of Share Transfer Committee" width="320" /></a></div><span><a name='more'></a></span><div class="separator" style="clear: both; text-align: center;"><br /></div></div><div style="text-align: justify;"><span style="font-family: times;"><span style="font-size: large;">If the Articles of Association provides for appointment of a committee, power to approve transfer of shares at least of small numbers may be delegated to a committee of Directors/Senior Executives. In the case of constitution of committee, suitable conditions regarding notice or quorum required to be fixed. Minutes of the share transfer committee should be placed before the Board meeting.</span></span></div><h2 style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; mso-layout-grid-align: none; text-align: center; text-autospace: none;"><b><span style="color: red; font-family: times; font-size: x-large;"><br /></span></b></h2><h2 style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; mso-layout-grid-align: none; text-align: center; text-autospace: none;"><b><span style="color: red; font-family: times; font-size: x-large;">Board Resolution For Formation of Share
Transfer Committee</span></b></h2>
<p class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; mso-layout-grid-align: none; text-align: justify; text-autospace: none;"><span style="font-family: times; font-size: large;">"<b>RESOLVED
THAT </b>a Share Transfer Committee of the Board be constituted with immediate
effect and that the Committee consist of any Two Directors and Secretary of the
company for the time being and the Committee so constituted will have the
following powers and authorities, <i>viz</i>.:—</span></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; mso-layout-grid-align: none; text-align: justify; text-autospace: none;"><span style="font-family: times; font-size: large;"> </span></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: 12.0pt; margin-left: 22.5pt; margin-right: 0in; margin-top: 0in; mso-layout-grid-align: none; text-align: justify; text-autospace: none; text-indent: -22.5pt;"><span style="font-family: times; font-size: large;">(<i>i</i>) to provide for the safe custody of the Common Seal, if any, of the company;<o:p></o:p></span></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: 12.0pt; margin-left: 22.5pt; margin-right: 0in; margin-top: 0in; mso-layout-grid-align: none; text-align: justify; text-autospace: none; text-indent: -22.5pt;"><span style="font-family: times; font-size: large;">(<i>ii</i>) to approve and register transfers and/or transmissions of Equity
Shares and Preference Shares of the company;<o:p></o:p></span></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: 12.0pt; margin-left: 22.5pt; margin-right: 0in; margin-top: 0in; mso-layout-grid-align: none; text-align: justify; text-autospace: none; text-indent: -22.5pt;"><span style="font-family: times; font-size: large;">(<i>iii</i>)to sub-divide, consolidate
and/or replace any Share Certificate of the company;<o:p></o:p></span></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: 12.0pt; margin-left: 22.5pt; margin-right: 0in; margin-top: 0in; mso-layout-grid-align: none; text-align: justify; text-autospace: none; text-indent: -22.5pt;"><span style="font-family: times; font-size: large;">(<i>iv</i>)to authorise affixation of Common Seal, if any, of the company
to Share Certificates;<o:p></o:p></span></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: 12.0pt; margin-left: 22.5pt; margin-right: 0in; margin-top: 0in; mso-layout-grid-align: none; text-align: justify; text-autospace: none; text-indent: -22.5pt;"><span style="font-family: times; font-size: large;">(<i>v</i>) to do all other acts and deeds as may be necessary or incidental to
the above.<o:p></o:p></span></p>
<span style="font-family: times; font-size: large;"><div style="text-align: justify;"><b><br /></b></div><div style="text-align: justify;"><b>RESOLVED FURTHER THAT _________ </b>be and is hereby authorized to do all act,
deed and things as may be necessary for the execution of above board decision.</div></span>CS Ashish Jainhttp://www.blogger.com/profile/00427323626525507645noreply@blogger.comtag:blogger.com,1999:blog-5686816402528651075.post-54343119089965339242021-04-30T23:23:00.002+05:302021-04-30T23:23:20.427+05:30 Special Resolution For Issue of Shares on Preferential Basis<h2 style="text-align: center;"><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEi2YLZ-aU2xKgQSJD2WDLKpXXxFJAYtwwVQ_oHyt7wCiL92ICf-DbGrlNij2vWB4ePy3eLy62lsshagoVozJrJn-_mNxa6uzjoF8MB0xWOK2E8bAhZqr-jZFcdLsEJHTYqWK4oI6qAzbkc/s343/Special-Resolution-Issue-Shares-Preferential-Basis.webp" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img alt="Special-Resolution-Issue-Shares-Preferential-Basis" border="0" data-original-height="147" data-original-width="343" height="137" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEi2YLZ-aU2xKgQSJD2WDLKpXXxFJAYtwwVQ_oHyt7wCiL92ICf-DbGrlNij2vWB4ePy3eLy62lsshagoVozJrJn-_mNxa6uzjoF8MB0xWOK2E8bAhZqr-jZFcdLsEJHTYqWK4oI6qAzbkc/w320-h137/Special-Resolution-Issue-Shares-Preferential-Basis.webp" title="Special Resolution For Issue of Shares on Preferential Basis" width="320" /></a></div><span><a name='more'></a></span></h2><h2 style="clear: both; text-align: center;"><span style="color: red; font-size: xx-large;"><span style="font-family: times;">Special Resolution For Issue of Shares on Preferential Basis</span></span></h2><p class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; mso-layout-grid-align: none; text-align: justify; text-autospace: none;"><span style="font-family: "Times New Roman", serif; font-size: 13pt;">"</span><b style="font-family: "Times New Roman", serif; font-size: 13pt;">RESOLVED THAT </b><span style="font-family: "Times New Roman", serif; font-size: 13pt;">pursuant to Sections 42 & 62 and all
other applicable provisions, if any, of the Companies Act, 2013 and Rule 14 of
Companies (Prospectus and Allotment of Securities) Rules, 2014(including any
statutory modification thereto or reenactment thereof for the time being in
force) and in accordance with the Foreign Exchange Management Act, 1999
(including any amendment, modification, variation or re-enactment thereof, and
the provisions of any rules/regulations/guidelines issued/framed by the Central
Government, Reserve Bank of India, Foreign Investment Promotion Board thereto),
Articles of Association of the Company, the Listing Agreement entered into by
the Company with the Stock Exchanges where the securities of the Company are listed,
and subject to the approval, consent, permission and/or sanction, as may be
required from the Central Government, Reserve Bank of India, SEBI and any other
appropriate authority, Institution or Body and subject to such terms, conditions,
alterations, corrections, changes, variations and/or modifications, if any, as
may be prescribed by any one or more or all of them in granting such approval,
consent, permission and/or sanction, the Consent of the Company be and is
hereby given to the Board of Directors of the Company to create, offer, issue,
and allot up to ……………………. Equity Shares of Rs.__/- each at a premium of Rs. ___
/- considering the date thirty days prior to the date of this meeting as the
Relevant Date as per provisions of Regulation 71 of Chapter VII of SEBI (ICDR)
Regulations, 2009 for Preferential Issues on such further terms and conditions,
including payment of monies as may be approved or finalised by the Board of
Directors to the following entity being the entity other than Promoters Group
as detailed herein below:</span></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; mso-layout-grid-align: none; text-align: justify; text-autospace: none;"><i><span style="font-family: "Times New Roman",serif; font-size: 13.0pt; mso-fareast-language: EN-IN;">Name of the proposed allottee <span style="mso-tab-count: 3;"> </span>PAN
<span style="mso-tab-count: 4;"> </span>Category</span></i></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; mso-layout-grid-align: none; text-align: justify; text-autospace: none;"><b><span style="font-family: "Times New Roman",serif; font-size: 13.0pt; mso-fareast-language: EN-IN;">''RESOLVED FURTHER THAT </span></b><span style="font-family: "Times New Roman",serif; font-size: 13.0pt; mso-fareast-language: EN-IN;">for the purpose
of giving effect to the aforesaid special resolution under Sections 42& 62
of the Companies Act, 2013, the Board of Directors (which term shall include
any duly constituted and authorized committee thereof) of the Company be and is
hereby authorized to take such steps and to do all such other acts, deeds,
matters and things and accept any alteration(s) or amendment(s) or
correction(s)or modification(s) as it may deem fit and appropriate and give
such directions/instructions as may be necessary to settle any question,
difficulty or doubt that may arise in regard to offer, issue, allotment of the
said equity shares and also to seek the listing of such equity shares in one or
more stock exchanges in India.''</span></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; mso-layout-grid-align: none; text-align: justify; text-autospace: none;"><b><span style="font-family: "Times New Roman",serif; font-size: 13.0pt; mso-fareast-language: EN-IN;">“RESOLVED 'FURTHER THAT </span></b><span style="font-family: "Times New Roman",serif; font-size: 13.0pt; mso-fareast-language: EN-IN;">the Equity
Shares to be issued and allotted shall rank <i>pari passu </i>with the existing
Equity Shares of the Company in all respects.”</span></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; mso-layout-grid-align: none; text-align: justify; text-autospace: none;"><b><span style="font-family: "Times New Roman",serif; font-size: 13.0pt; mso-fareast-language: EN-IN;">“RESOLVED FURTHER THAT </span></b><span style="font-family: "Times New Roman",serif; font-size: 13.0pt; mso-fareast-language: EN-IN;">the Board be and
is hereby authorized to accept any modification in the proposal as may be
required by the agencies involved in such issues but subject to such conditions
as the Stock Exchanges/SEBI/Central Government or such other appropriate
authority may impose at the time of their approval as agreed by the Board.”</span></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; mso-layout-grid-align: none; text-align: justify; text-autospace: none;"><b style="mso-bidi-font-weight: normal;"><i><span style="font-family: "Times New Roman",serif; font-size: 13.0pt; mso-fareast-language: EN-IN;">Explanatory
Statement</span></i></b></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; mso-layout-grid-align: none; text-align: justify; text-autospace: none;"><span style="font-family: "Times New Roman",serif; font-size: 13.0pt; mso-fareast-language: EN-IN;">The Board of Directors on …………….., subject to necessary approval(s), has
approved the proposal for raising funds up to Rs…………Crores by way of issue of
equity shares on preferential basis to mobilize funds for funding current/future
expansion plans/activities directly by the Company or thorough subsidiaries/joint
venture companies, potential acquisitions, working capital and general
corporate purposes.</span></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; mso-layout-grid-align: none; text-align: justify; text-autospace: none;"><span style="font-family: "Times New Roman",serif; font-size: 13.0pt; mso-fareast-language: EN-IN;">The Information as required under Regulation 73 of the SEBI (ICDR) Regulations,
2009 for Preferential Issues is as under:<o:p></o:p></span></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; mso-layout-grid-align: none; text-align: justify; text-autospace: none;"><span style="font-family: "Times New Roman",serif; font-size: 13.0pt; mso-fareast-language: EN-IN;">(<i>a</i>) Object of the issue: To mobilize funds for funding
current/future expansion plans/activities directly by the Company or through subsidiaries/joint
venture companies, potential acquisitions, working capital and general
corporate purposes.<o:p></o:p></span></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; mso-layout-grid-align: none; text-align: justify; text-autospace: none;"><span style="font-family: "Times New Roman",serif; font-size: 13.0pt; mso-fareast-language: EN-IN;">(<i>b</i>) Intention of Promoters/Directors/Key Management Personnel to subscribe
to the offer: Promoters/Directors/Key Management Personnel of the company are
not intending to participate/subscribe to the present offer.<o:p></o:p></span></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; mso-layout-grid-align: none; text-align: justify; text-autospace: none;"><span style="font-family: "Times New Roman",serif; font-size: 13.0pt; mso-fareast-language: EN-IN;">(<i>c</i>) Shareholding Pattern before and after the issue of shares
involved in the present resolution is as below:<o:p></o:p></span></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; mso-layout-grid-align: none; text-align: justify; text-autospace: none;"><span style="font-family: "Times New Roman",serif; font-size: 13.0pt; mso-fareast-language: EN-IN;">……………………..<o:p></o:p></span></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; mso-layout-grid-align: none; text-align: justify; text-autospace: none;"><span style="font-family: "Times New Roman",serif; font-size: 13.0pt; mso-fareast-language: EN-IN;">(<i>d</i>) The Company will complete the issue & allotment of Equity
Shares within a period of 15 days from the date of passing of the resolutions
by the shareholders or when the allotment on preferential basis requires any approval
by any regulatory authority like Stock Exchanges or Central Government or any
statutory body, the allotment of shares will be completed within 15 days from
the date of such approvals.<o:p></o:p></span></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; mso-layout-grid-align: none; text-align: justify; text-autospace: none;"><span style="font-family: "Times New Roman",serif; font-size: 13.0pt; mso-fareast-language: EN-IN;">(<i>e</i>) Identity of proposed allottee(s), percentage of expanded
capital to be held by them:<o:p></o:p></span></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; mso-layout-grid-align: none; text-align: justify; text-autospace: none;"><span style="font-family: "Times New Roman",serif; font-size: 13.0pt; mso-fareast-language: EN-IN;">There will not be any change in the management control of the Company on
account of this proposed preferential allotment except minor change in the
shareholding pattern as well as voting rights.<o:p></o:p></span></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; mso-layout-grid-align: none; text-align: justify; text-autospace: none;"><span style="font-family: "Times New Roman",serif; font-size: 13.0pt; mso-fareast-language: EN-IN;">(<i>f</i>) Lock In Requirements: The shares to be allotted on
preferential basis shall be subject to lock-in as per applicable SEBI
regulations in this regard.<o:p></o:p></span></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; mso-layout-grid-align: none; text-align: justify; text-autospace: none;"><span style="font-family: "Times New Roman",serif; font-size: 13.0pt; mso-fareast-language: EN-IN;">(<i>g</i>) Auditors’ Certificate: M/s…………………..& Associates,
Chartered Accountants, the Statutory Auditors of the Company have certified
that the preferential issue is being made in accordance with the requirements contained
in SEBI (ICDR) Regulations, 2009. A copy of the certificate is kept for
inspection at the Registered Office of the Company during the business hours.<o:p></o:p></span></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; mso-layout-grid-align: none; text-align: justify; text-autospace: none;"><span style="font-family: "Times New Roman",serif; font-size: 13.0pt; mso-fareast-language: EN-IN;">(<i>h</i>) Relevant Date: Relevant Date for the purpose is ………………..
which is the date 30 days prior to the date of EGM (being the day preceding the
weekend/holiday) where this resolution is being considered for approval.<o:p></o:p></span></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; mso-layout-grid-align: none; text-align: justify; text-autospace: none;"><span style="font-family: "Times New Roman",serif; font-size: 13.0pt; mso-fareast-language: EN-IN;">(<i>i</i>) Pricing & Undertaking to re-compute the price: Price is
determined in terms of Regulation 76 of SEBI (ICDR) Regulations. Further, the Company
undertakes to re-compute the price of the equity shares, if at all required, in
terms of the provisions of these regulations where it is required to do so.<o:p></o:p></span></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; mso-layout-grid-align: none; text-align: justify; text-autospace: none;"><span style="font-family: "Times New Roman",serif; font-size: 13.0pt; mso-fareast-language: EN-IN;">(<i>j</i>) Undertaking to put under lock-in till the re-computed price
is paid: The Company undertakes that if the amount payable on account of the
recomputation of price if not paid within the time stipulated in these regulations,
the specified equity shares shall continue to be lock-in till the time such
amount is paid by the allottee(s).</span></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; mso-layout-grid-align: none; text-align: justify; text-autospace: none;"><span style="font-family: "Times New Roman",serif; font-size: 13.0pt; mso-fareast-language: EN-IN;">Section 62 of the Companies Act, 2013 provides inter alia, that when it
is proposed to increase the issued capital of a Company by allotment of further
shares, etc., such further shares shall be offered to the existing shareholders
of the Company in the manner laid down in the Section unless the shareholders
in general meeting decide otherwise by passing a special resolution. Therefore,
consent of the shareholders by way of Special Resolution is being sought pursuant
to the provisions of Sections 42 & 62 and all other applicable provisions of
the Companies Act, 2013 and in terms of the provisions of the SEBI (ICDR) Regulations,
2009 and the listing agreements executed by the company with the Stock
Exchanges where the Company's shares are listed.</span></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; mso-layout-grid-align: none; text-align: justify; text-autospace: none;"><span style="font-family: "Times New Roman",serif; font-size: 13.0pt; mso-fareast-language: EN-IN;">The members are, therefore, requested to accord their approval
authorizing the Board to go for the proposed private placement and/or
preferential issue as set out in the resolution.</span></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; mso-layout-grid-align: none; text-align: justify; text-autospace: none;"><span style="font-family: "Times New Roman",serif; font-size: 13.0pt; mso-fareast-language: EN-IN;">None of the Directors, any other Key Managerial Person(s) of the Company
and their relatives are, in any way, concerned or interested in the said
resolution.</span><span style="font-family: "Times New Roman",serif; font-size: 13.0pt;"><o:p></o:p></span></p><p class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; mso-layout-grid-align: none; text-align: justify; text-autospace: none;"><span style="font-family: "Times New Roman",serif; font-size: 13.0pt; mso-fareast-language: EN-IN;"><span style="color: red;"><b>Related Post :</b></span></span></p><p class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; mso-layout-grid-align: none; text-align: justify; text-autospace: none;"><a href="http://www.corporatelaws.in/2016/05/Preferential-Allotment-Shares-Unlisted-Companies.html" style="font-family: "Times New Roman", serif; font-size: 13pt;"><b><span style="color: #2b00fe;">Key
Points for Preferential Allotment of Shares by Unlisted Companies Under Section
62</span></b></a></p><p class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; mso-layout-grid-align: none; text-align: justify; text-autospace: none;"><b><span style="border: 1pt none windowtext; font-family: "Times New Roman", serif; font-size: 13pt; line-height: 115%; padding: 0cm;"><a href="http://www.corporatelaws.in/2017/01/Procedure-Issue-Shares-on-Preferential-Basis.html"><span style="color: #2b00fe;">Procedure
For Issue of Shares on Preferential Basis</span></a></span></b></p>CS Ashish Jainhttp://www.blogger.com/profile/00427323626525507645noreply@blogger.comtag:blogger.com,1999:blog-5686816402528651075.post-14542626105538163722021-04-12T00:40:00.006+05:302023-03-04T19:06:42.296+05:30How to Form an LLC in New York in 2023<p style="text-align: center;"> <a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEj8iqnl7vvopPMQO7dNCcbKlpmMR9BpFRheaV610GG5KBD6LX-sIQ4tl3vlsHuZCpoQFzSpzq2IzOOglIEG_qMrujDiMMr5il_uU7bKkZgoFO5dvxCD9bwBh6qbhnSBSBcns6TsOqgLqEI/s300/how-form-llc-new-york-2021.webp" style="margin-left: 1em; margin-right: 1em;"><img alt="How-to-Form-LLC-New-York-2023" border="0" data-original-height="168" data-original-width="300" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEj8iqnl7vvopPMQO7dNCcbKlpmMR9BpFRheaV610GG5KBD6LX-sIQ4tl3vlsHuZCpoQFzSpzq2IzOOglIEG_qMrujDiMMr5il_uU7bKkZgoFO5dvxCD9bwBh6qbhnSBSBcns6TsOqgLqEI/s16000/how-form-llc-new-york-2021.webp" title="How to Form an LLC in New York in 2023" /></a><br /></p><span><a name='more'></a></span><h1 style="text-align: center;"><span style="color: red; font-family: "Times New Roman", serif; font-size: xx-large;">How to Form an LLC in New
York in 2023</span></h1>
<p class="MsoNormal" style="text-align: justify;"><span style="font-family: "Times New Roman",serif; font-size: 14pt; line-height: 115%;">If you are interested in
starting an LLC in the state of New York follow the below-mentioned steps for creating your own Limited
Liability Company. Let’s start by looking at the six
basic requirements to form an LLC in the state of New York : <o:p></o:p></span></p>
<div class="mbtTOC">
<button onclick="mbtToggle()">Table Of Contents</button>
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<h2 style="text-align: justify;"><span style="font-family: "Times New Roman",serif; font-size: 14pt; line-height: 115%;"><b><span style="color: #2b00fe;">Name Search for your LLC</span></b></span></h2>
<p class="MsoNormal" style="text-align: justify;"><span style="font-family: "Times New Roman",serif; font-size: 14pt; line-height: 115%;">You’ll need to choose a
company name that complies with New York naming requirements, and do a <a href="https://www.dos.ny.gov/corps/bus_entity_search.html" rel="nofollow" target="_blank">namesearch on the State of New York website</a> to make sure the name isn’t already taken.
You should go ahead and register the URL for your business website and email as
well. <o:p></o:p></span></p><p class="MsoNormal" style="text-align: justify;"></p><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiftfRi_r0Jv_DuR8EtC3i1DckVIKlbvuuFMdbpf9YuDmFn0Auuvo5egoOCrbT7QYeGp0vhCm06Qn6SCviYem4Io8BT-3WLXb3VjOBoLitHiTooFchd6ir0Ao5jICHSp4yLZPD8pjQTs7I/s966/new-york-llc-name-search.png" style="margin-left: 1em; margin-right: 1em;"><img alt="new-york-llc-name-search" border="0" data-original-height="481" data-original-width="966" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiftfRi_r0Jv_DuR8EtC3i1DckVIKlbvuuFMdbpf9YuDmFn0Auuvo5egoOCrbT7QYeGp0vhCm06Qn6SCviYem4Io8BT-3WLXb3VjOBoLitHiTooFchd6ir0Ao5jICHSp4yLZPD8pjQTs7I/s16000/new-york-llc-name-search.png" title="new-york-llc-name-search" /></a></div><span style="line-height: 115%;"><p class="MsoNormal" style="text-align: justify;"><span style="font-family: times; font-size: large;"><span style="line-height: 115%;">You can reserve a name
for a period of 60 days by filing an </span>Application for Reservation of
Name with the New York Department of State Division of Corporations with a filing fee of $20.</span></p></span><p></p><p class="MsoNormal" style="text-align: justify;"><o:p></o:p></p>
<h2 style="text-align: justify;"><span style="font-family: "Times New Roman",serif; font-size: 14pt; line-height: 115%;"><span style="color: #2b00fe;"><b>Use the default statutory
agent</b></span></span></h2>
<p class="MsoNormal" style="text-align: justify;"><span style="font-family: "Times New Roman",serif; font-size: 14pt; line-height: 115%;">In New York, the
Secretary of State acts as the statutory agent for service of processor all New
York LLCs by default. In this case, the Secretary of State will forward
documents and service of process papers directly to your LLC’s principal
address. <o:p></o:p></span></p>
<h2 style="text-align: justify;"><span style="font-family: "Times New Roman",serif; font-size: 14pt; line-height: 115%;"><span style="color: #2b00fe;"><b>File the Articles of
Organization</b></span></span></h2>
<p class="MsoNormal" style="text-align: justify;"><span style="font-family: "Times New Roman",serif; font-size: 14pt; line-height: 115%;">To register your New York
LLC, you will need to file the Articles of Organization with the State of New
York. This can be done online or by mail. You will need to mention whether your
LLC will be member managed or manager managed. Member-managed means all members
of the LLCmanage the company. This is good for small organizations, where
everyone is involved in day-to-day operations. The second option is
manager-managed, where individuals are appointed to manage the LLC.This is
appropriate for larger organizations, where not everyone is involved in the
day-to-day affairs of the business. <o:p></o:p></span></p>
<h2 style="text-align: justify;"><span style="font-family: "Times New Roman",serif; font-size: 14pt; line-height: 115%;"><span style="color: #2b00fe;"><b>Publication Requirement</b></span></span></h2>
<p class="MsoNormal" style="text-align: justify;"><span style="font-family: "Times New Roman",serif; font-size: 14pt; line-height: 115%;">New York requires that
within 120 days of formation all LLCs publish a copy of the Articles of
Organization or a notice related to the formation of the LLC in two newspapers
(one weekly and one daily).The newspapers must be approved by the local county
clerk of the county you designate in your Articles of Organization. After the publication
printer or publisher of every newspaper will provide you with an affidavit of
publication. You must submit your Certificate of Publication along with your
affidavits of publication to the New York Department of State, Division of
Corporations. The fee to be paid for filing the Certificate of Publication is
$50.</span><o:p></o:p></p>
<h2 style="text-align: justify;"><span style="font-family: "Times New Roman",serif; font-size: 14pt; line-height: 115%;"><span style="color: #2b00fe;"><b>Create an Operating
Agreement</b></span></span></h2>
<p class="MsoNormal" style="text-align: justify;"><span style="font-family: "Times New Roman",serif; font-size: 14pt; line-height: 115%;">You should also create an
operating agreement to establish ownership terms, member roles, and operating
procedures. This legal document ensures that all business owners are on the
same page and reduces the risk of future conflict. A comprehensive operating
agreement will further establish your LLC as a separate legal entity, however,
it does not need to be filed with the state. <o:p></o:p></span></p>
<h2 style="text-align: justify;"><span style="font-family: "Times New Roman",serif; font-size: 14pt; line-height: 115%;"><span style="color: #2b00fe;"><b>Obtain an EIN</b></span></span></h2>
<p class="MsoNormal" style="text-align: justify;"><span style="font-family: "Times New Roman",serif; font-size: 14pt; line-height: 115%;">Lastly, you’ll need to
get an Employer Identification Number, or EIN, from the IRS. Also known as a
Federal Tax Identification Number, your EIN is like a social security number
for your LLC and is important for taxes and banking. IN’s are free of charge,
and can be obtained from the IRS online or through the mail. And with that, you
will have formed a New York LLC on your own. Keep in mind, however, that New
York’s newspaper publication requirements can cost $1,500 or more if your LLCs
principal address is in New York City. To reduce Publication costs
entrepreneurs have developed various strategies. A registered agent service
located outside the city allows an LLC to use the registered agent’s address as
the principal address, which greatly reduces the cost of publication. There is
also the added benefit of privacy because New York's LLC publication requirements
mandate that your principal LLC address be publicly shared. <o:p></o:p></span></p>
<h2 style="text-align: justify;"><span style="font-family: "Times New Roman",serif; font-size: 14pt; line-height: 115%;"><span style="color: #2b00fe;"><b>How much does it cost to
form an LLC in New York?</b></span></span></h2>
<p class="MsoNormal" style="text-align: justify;"><span style="font-family: "Times New Roman",serif; font-size: 14pt; line-height: 115%;">For filing the Articles
of Organization, the New York Department of State Division of Corporations
charges fee of $200.<o:p></o:p></span></p>
<p class="MsoNormal" style="text-align: justify;"><span style="font-family: "Times New Roman",serif; font-size: 14pt; line-height: 115%;">If you wish to reserve
your LLC name prior to filing the Articles of Organization, It will cost $20 to
file a name reservation application.<o:p></o:p></span></p>
<p class="MsoNormal" style="text-align: justify;"><span style="font-family: "Times New Roman",serif; font-size: 14pt; line-height: 115%;">Filing on your own is
often the cheapest option, but completing all of the forms and filing them
yourself can be complicated. Hiring a lawyer is another option, but will often
cost you hundreds, if not thousands, of dollars in the process. <o:p></o:p></span></p>
<p class="MsoNormal" style="text-align: justify;"><span style="font-family: "Times New Roman",serif; font-size: 14pt; line-height: 115%;">Hiring a professional
registered agent service will allow you to use their address instead of yours
which will protect your personal privacy. In addition, a hired registered agent
helps with getting your reports filed on time, helps you stay organized by
keeping your business mail separate and is available at all regular business
hours to accept official mail and legal papers on your LLC’s behalf. <o:p></o:p></span></p><p class="MsoNormal" style="text-align: justify;"><b></b></p><div class="separator" style="clear: both; text-align: center;"><b><iframe allowfullscreen="" class="BLOG_video_class" height="266" src="https://www.youtube.com/embed/dD7ulYXtdC8" width="320" youtube-src-id="dD7ulYXtdC8"></iframe></b></div><b><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;"><span style="color: #2b00fe;"><p class="MsoNormal" style="text-align: justify;"><b><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;"><span style="color: #2b00fe;"><br /></span></span></b></p>Frequently
Asked Questions – FAQs</span></span></b><p></p><p class="MsoNormal" style="text-align: justify;"><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;"><b>Q: How much does it
cost to form an LLC in New York? </b><o:p></o:p></span></p><p class="MsoNormal" style="text-align: justify;"><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">A: It is difficult to
quote any specific amount because it depends on the services you use and any
legal or professional advice you seek for this purpose. There is a fixed filing
fee of $200 which you have to incur to form an LLC in New York.<o:p></o:p></span></p><p class="MsoNormal" style="text-align: justify;"><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;"><b>Q: How much time does
it take to form an LLC in New York? </b><o:p></o:p></span></p><p class="MsoNormal" style="text-align: justify;"><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">A: The approx processing
time for the formation of an LLC in New York is around two weeks, but on
payment of an additional fee this process can be expedited and completed within
2 weeks time.<o:p></o:p></span></p><p class="MsoNormal" style="text-align: justify;"><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;"><b>Q: Can a non-US citizen
form an LLC in New York? </b><o:p></o:p></span></p><p class="MsoNormal" style="text-align: justify;"><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">A: Yes, anyone can form
an LLC in New York provided you have a US mailing address and have a registered
agent located in the state.<o:p></o:p></span></p><p class="MsoNormal" style="text-align: justify;"><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;"><b>Q: Is it mandatory to take
the services of a lawyer to form an LLC in New York? </b><o:p></o:p></span></p><p class="MsoNormal" style="text-align: justify;"><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">A: No, it is not mandatory
to take the services of a lawyer to form an LLC in New York, but if you hire
the services of a lawyer for forming an LLC in New York it will be very helpful
for you for ensuring the legal compliances for the formation of an LLC.<o:p></o:p></span></p><p class="MsoNormal" style="text-align: justify;"><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;"><b>Q: Is it mandatory to
have an operating agreement for an LLC in New York? </b><o:p></o:p></span></p><p class="MsoNormal" style="text-align: justify;"><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">A: Though it is not
mandatory to have an operating agreement for an LLC in New York but it is highly
recommended to have an operating agreement in place for your LLC to define the
management and ownership structure, as well as the rules and regulations for
the company.<o:p></o:p></span></p><p class="MsoNormal" style="text-align: justify;"><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;"><b>Q: Can an LLC be formed
with only one member in New York? </b><o:p></o:p></span></p><p class="MsoNormal" style="text-align: justify;"><span style="font-family: "Times New Roman",serif; font-size: 14pt; line-height: 115%;">
</span></p><p class="MsoNormal" style="text-align: justify;"><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">A: Yes, it is possible
to form an LLC in New York just with one member.</span></p><p class="MsoNormal" style="text-align: justify;"><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;"> <o:p></o:p></span></p><p class="MsoNormal" style="text-align: justify;"><span style="font-family: "Times New Roman",serif; font-size: 14pt; line-height: 115%;"><span style="color: red;"><b>Related Post :</b></span></span></p><p class="MsoNormal" style="text-align: justify;"><b style="font-family: "Times New Roman", serif; font-size: 14pt;"><a href="https://www.corporatelaws.in/2021/02/how-to-start-llc-in-texas-in-2021.html" target="_blank"><span style="color: #2b00fe;">How To Start A LLC in Texas in 202</span></a><u><span style="color: #2b00fe;">3</span></u></b></p>
<script>mbtTOC();</script>
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maybe formed for any lawful purpose by—</span></h3>
<p class="MsoNormal" style="line-height: normal; margin-bottom: 0cm; mso-layout-grid-align: none; text-align: justify; text-autospace: none;"><span style="font-family: times; font-size: medium;">(<i>a</i>) seven or more persons, where the company to be formed is to be
a public company;<o:p></o:p></span></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: 0cm; mso-layout-grid-align: none; text-align: justify; text-autospace: none;"><span style="font-family: times; font-size: medium;">(<i>b</i>) two or more persons, where the company to be formed is to be a
private company; or<o:p></o:p></span></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: 0cm; mso-layout-grid-align: none; text-align: justify; text-autospace: none;"><span style="font-family: times; font-size: medium;">(<i>c</i>) one person, where the company to be formed is to be One Person
Company that is to say, a private company,</span></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: 0cm; mso-layout-grid-align: none; text-align: justify; text-autospace: none;"><span style="font-family: times; font-size: medium;">by subscribing their names or his name to a memorandum and
complying with the requirements of this Act in respect of registration. </span></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: 0cm; mso-layout-grid-align: none; text-align: justify; text-autospace: none;"><span style="font-family: times; font-size: medium;">A company formed under the Companies Act, 2013 may be either—<o:p></o:p></span></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: 0cm; mso-layout-grid-align: none; text-align: justify; text-autospace: none;"><span style="font-family: times; font-size: medium;">(<i>a</i>) a company limited by shares; or<o:p></o:p></span></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: 0cm; mso-layout-grid-align: none; text-align: justify; text-autospace: none;"><span style="font-family: times; font-size: medium;">(<i>b</i>) a company limited by guarantee; or<o:p></o:p></span></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: 0cm; mso-layout-grid-align: none; text-align: justify; text-autospace: none;"><span style="font-family: times; font-size: medium;">(<i>c</i>) an unlimited company.</span></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: 0cm; mso-layout-grid-align: none; text-align: justify; text-autospace: none;"><span style="font-family: times; font-size: medium;">The Companies Act, 2013 prescribes specific procedures for
incorporation and registration of companies. A company can be formed either by:—</span></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: 0cm; mso-layout-grid-align: none; text-align: justify; text-autospace: none;"><span style="font-family: times; font-size: medium;">(<i>i</i>) Incorporation of a new company; or</span></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: 0cm; mso-layout-grid-align: none; text-align: justify; text-autospace: none;"><span style="font-family: times; font-size: medium;">(<i>ii</i>) conversion of existing business (partnership firm or
co-operative societies, society, limited liability partnership, trust or any
other business entity) formed under any other law for the time being in force
which applies for registration under this Part into a company under the
provisions of Chapter XXI, Part I and of the Companies Act, 2013; or</span></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: 0cm; mso-layout-grid-align: none; text-align: justify; text-autospace: none;"><span style="font-family: times; font-size: medium;">(<i>iii</i>) Companies incorporated under section 8 of the Companies Act,
2013.</span></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: 0cm; mso-layout-grid-align: none; text-align: justify; text-autospace: none;"><span style="font-family: times; font-size: medium;">The incorporation (birth) and strike off the name, winding up and
dissolution (death) of a company are governed by the provisions of the
Companies Act, 2013. Therefore, each company is subject to the provisions of
the Companies Act, 2013, as may be amended from time to time. The following
procedure involves for incorporation of a company.</span></p>
<h2 style="line-height: normal; margin-bottom: 0cm; mso-layout-grid-align: none; text-align: center; text-autospace: none;"><span style="color: red; font-size: x-large;"><b><span style="font-family: times;"><br /></span></b></span></h2><h2 style="line-height: normal; margin-bottom: 0cm; mso-layout-grid-align: none; text-align: center; text-autospace: none;"><span style="color: red; font-size: x-large;"><b><span style="font-family: times;">HOW
TO REGISTER A COMPANY IN INDIA 2023 ONLINE PROCESS</span></b><span style="font-family: times;"> </span></span></h2>
<p class="MsoNormal" style="line-height: normal; margin-bottom: 0cm; mso-layout-grid-align: none; text-align: justify; text-autospace: none;"><span style="font-family: times; font-size: medium;">Persons who want to form a company must follow the step-by-step procedure
as discussed below:<o:p></o:p></span></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: 0cm; mso-layout-grid-align: none; text-align: justify; text-autospace: none;"><span style="font-family: times; font-size: medium;">1. Selection of type of company.<o:p></o:p></span></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: 0cm; mso-layout-grid-align: none; text-align: justify; text-autospace: none;"><span style="font-family: times; font-size: medium;">2. Selection of name for the proposed company.<o:p></o:p></span></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: 0cm; mso-layout-grid-align: none; text-align: justify; text-autospace: none;"><span style="font-family: times; font-size: medium;">3. Apply for issuance of Directors Identification Number (DIN)
and Digital Signatures, if does not have, however as per amendment in section 153
of the Companies Act, 2013 by the Companies (Amendment) Act, 2017, w.e.f.
9-2-2018, the Central Government may prescribe any identification number which
shall be treated as DIN.<o:p></o:p></span></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: 0cm; mso-layout-grid-align: none; text-align: justify; text-autospace: none;"><span style="font-family: times; font-size: medium;">4. Apply for reservation of name in the Form RUN or Form
No.INC-32 (SPICe).<o:p></o:p></span></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: 0cm; mso-layout-grid-align: none; text-align: justify; text-autospace: none;"><span style="font-family: times; font-size: medium;">5. Drafting of <a href="https://www.corporatelaws.in/2016/04/Draft-MOA-and-AOA-of-Section-8-Company-in-INC-13.html" target="_blank">Memorandum and Articles of Association</a>.<o:p></o:p></span></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: 0cm; mso-layout-grid-align: none; text-align: justify; text-autospace: none;"><span style="font-family: times; font-size: medium;">6. <a href="https://www.corporatelaws.in/2016/12/Procedure-Online-Payment-Stamp-Duty-Share-Transfer.html" target="_blank">Payment of stamp duty</a> electronically, digitally signing and
e-filing of various documents with the Registrar.<o:p></o:p></span></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: 0cm; mso-layout-grid-align: none; text-align: justify; text-autospace: none;"><span style="font-family: times; font-size: medium;">7. Payment of registration and filing fees electronically.<o:p></o:p></span></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: 0cm; mso-layout-grid-align: none; text-align: justify; text-autospace: none;"><span style="font-family: times; font-size: medium;">8. Apply for obtaining GST Number, Employees State Insurance
Corporation Registration No. and Employee Provident Fund Organisation
Registration, Income Tax PAN, TAN, Professional Tax and opening of bank account
on online basis simultaneously filing of Form SPICe in the Form INC-35 called
AGILE.<o:p></o:p></span></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: 0cm; mso-layout-grid-align: none; text-align: justify; text-autospace: none;"><span style="font-family: times; font-size: medium;">9. Obtain Certificate of Incorporation.</span></p>
<h3 style="line-height: normal; margin-bottom: 0cm; text-align: justify;"><b><span style="color: red; font-family: times; font-size: x-large;"><br /></span></b></h3><h3 style="line-height: normal; margin-bottom: 0cm; text-align: justify;"><b><span style="color: red; font-family: times; font-size: x-large;">Step by Step procedure for incorporation of a company in India 2023</span></b></h3><p class="MsoNormal" style="line-height: normal; margin-bottom: 0cm; mso-layout-grid-align: none; text-align: justify; text-autospace: none;"><b><span style="font-family: times; font-size: medium;"><span style="color: #2b00fe;">1. Selection of
the type of company</span></span></b></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: 0cm; mso-layout-grid-align: none; text-align: justify; text-autospace: none;"><span style="font-family: times; font-size: medium;">The promoters of a company may be individuals or bodies-corporate.
They have powers of defining the objects and deciding various matters for the company proposed to be incorporated. It depends upon, the purposes for which
the company is to be incorporated, proposed scale of operations, capital
involved, etc. the promoters may select the type of company as they like to
form themselves into <i>viz.
</i>one person company, private company,
public company, non-profit making company, IFSC, etc.</span></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: 0cm; mso-layout-grid-align: none; text-align: justify; text-autospace: none;"><b><span style="font-family: times; font-size: medium;"><span style="color: #2b00fe;">2. Requirement for
having DIN</span><o:p></o:p></span></b></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: 0cm; mso-layout-grid-align: none; text-align: justify; text-autospace: none;"><span style="font-family: times; font-size: medium;">As per proviso to section 152(3) of the Companies Act, 2013 no
company shall appoint or re-appoint any individual as director of the company
unless he has been allotted a Director Identification Number (DIN) under
section 154 or such other identification number as the Central Government may
prescribe.</span></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: 0cm; mso-layout-grid-align: none; text-align: justify; text-autospace: none;"><span style="font-family: times; font-size: medium;">Section 152(3) provides that every individual, intending to be
appointed as director of a company shall mandatorily have DIN. Therefore, if
the proposed directors are not having DIN they need to apply with the Form
SPICe-32.</span></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: 0cm; mso-layout-grid-align: none; text-align: justify; text-autospace: none;"><b><span style="color: #2b00fe; font-family: times; font-size: medium;">3. Requirement for
providing a declaration by the director for disqualification</span></b></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: 0cm; mso-layout-grid-align: none; text-align: justify; text-autospace: none;"><span style="font-family: times; font-size: medium;">Section 152(4) of the Companies Act, 2013 provides that every
person proposed to be appointed as a director by the company at the time of incorporation
or in general meeting or otherwise, needs to give DIN or such other
identification number as may be prescribed by the Central Government and a
declaration in the Form DIR-8 informing about their non-disqualification under
section 164(2).</span></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: 0cm; mso-layout-grid-align: none; text-align: justify; text-autospace: none;"><b><span style="color: #2b00fe; font-family: times; font-size: medium;">4. Requirement for
having digital signatures</span></b></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: 0cm; mso-layout-grid-align: none; text-align: justify; text-autospace: none;"><span style="font-family: times; font-size: medium;">Each form & return prescribed under the Companies Act, 2013
needs to be filed with the DSC of the managing director or director or manager
or secretary of the Company, therefore, it is compulsorily required to obtain
digital signatures of all the subscribers to digitally sign the e-Form (SPICe) 32
(however, if the name reservation is applied through Form RUN there is no
requirement for DSC) and other documents. It may be noted that if the director
or other persons covered as subscriber are having digital signatures, their
signatures may be used and there is no need to take new signature again.</span></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: 0cm; mso-layout-grid-align: none; text-align: justify; text-autospace: none;"><b><span style="color: #2b00fe; font-family: times; font-size: medium;">5. Requirement for
Roll Check of digital signature</span></b></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: 0cm; mso-layout-grid-align: none; text-align: justify; text-autospace: none;"><span style="font-family: times; font-size: medium;">The digital signatures are required to be registered at the website
of the MCA for a various category like director, professionals, etc. and need to
fill up particulars online at the MCA portal, called roll check. Without
complying with the requirement of Roll Check, any documents signed digitally
shall be considered, as defects in the particulars of the applicants, if any,
will appear at the time of pre-scrutiny.</span></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: 0cm; mso-layout-grid-align: none; text-align: justify; text-autospace: none;"><span style="font-family: times; font-size: medium;">If a person having a digital signature and having multiple roles,
like the director of a company as well as professional like chartered accountant,
company secretary or cost accountant is required to apply for roll the digital
signature for such different categories and upload the particulars at the
portal of MCA online basis and the person may use the same signature for
various categories thereafter, like director or practicing company secretary,
cost accountant or chartered accountant mentioning DIN or professional
membership number, as the case may be.</span></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: 0cm; mso-layout-grid-align: none; text-align: justify; text-autospace: none;"><b><span style="color: #2b00fe; font-family: times; font-size: medium;">6. Selection of
name</span></b></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: 0cm; mso-layout-grid-align: none; text-align: justify; text-autospace: none;"><span style="font-family: times; font-size: medium;">If the promoters propose to incorporate a new company they need
to make an <a href="http://mca.gov.in/mcafoportal/run/spice" rel="nofollow" target="_blank">application in form RUN or in e-Form INC-32 (SPICe)</a> along with fee of
Rs.1,000 as prescribed in the Companies (Registration Offices and Fees) Rules,
2014 electronically with the Registrar of Companies for seeking confirmation
for the reservation of the proposed name that it is not undesirable, which
application may be approved or rejected, as the case may be, by the Registrar,
Central Registration Centre.</span></p><p class="MsoNormal" style="line-height: normal; margin-bottom: 0cm; mso-layout-grid-align: none; text-align: justify; text-autospace: none;"></p><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEi7wAceTT29BbWWymVXg0bMPeuZNiRu-YlNXBiVUx-qGVIRtAMWZq5Ti01hHkqHT1WJSpP5uph77izb55nBBQdORa9SFZLJBf4GCJfxeXdkeE8liv0xmxJIL-6zVG2ly4wfe_bplM_HR4o/s757/SPICe%252B+run+form+part-A.png" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="627" data-original-width="757" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEi7wAceTT29BbWWymVXg0bMPeuZNiRu-YlNXBiVUx-qGVIRtAMWZq5Ti01hHkqHT1WJSpP5uph77izb55nBBQdORa9SFZLJBf4GCJfxeXdkeE8liv0xmxJIL-6zVG2ly4wfe_bplM_HR4o/s16000/SPICe%252B+run+form+part-A.png" /></a></div><b><i><span style="font-family: times; font-size: medium;"><span style="color: #2b00fe;"><p class="MsoNormal" style="line-height: normal; margin-bottom: 0cm; mso-layout-grid-align: none; text-align: justify; text-autospace: none;"><b><i><span style="font-family: times; font-size: medium;"><span style="color: #2b00fe;"><br /></span></span></i></b></p>6.1 Reservation of
the name given by the Registrar shall be valid for a period upto 20 days only</span></span></i></b><p></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: 0cm; mso-layout-grid-align: none; text-align: justify; text-autospace: none;"><span style="font-family: times; font-size: medium;">Upon receipt of the application, the Form RUN for reservation of
name, the Registrar of Companies after verification of all the criteria shall
approve any of the name as may be considered as per provisions of the Rules
which shall be valid for a period of twenty days from the date of approval or
such other period as may be prescribed. [Section 4(5)]. After 20 days, or such
other dates as may be prescribed by the Central Government, if documents for
incorporation are not filed with the Registrar the reservation made by the Registrar
shall lapse automatically.</span></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: 0cm; mso-layout-grid-align: none; text-align: justify; text-autospace: none;"><span style="font-family: times; font-size: medium;"><b><i><span style="color: #2b00fe;">6.2 Preparation of
the Memorandum of Association </span></i></b><b><span style="color: #2b00fe;">(<i>MOA</i>) <i>and Articles of
Association </i>(<i>AOA</i>)</span><o:p></o:p></b></span></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: 0cm; mso-layout-grid-align: none; text-align: justify; text-autospace: none;"><span style="font-family: times; font-size: medium;">Drafting of the MOA and AOA is a simultaneous step to the
reservation of name as well as incorporation process. It should be noted that
the main objects must be matched with the objects shown in e-Form INC-32
(SPICe) or RUN. These two documents are basically the charter and internal
rules and regulations of the company and need to be filed in the Form INC-33
and INC-34 attached with the e-Form INC-32 (SPICe).</span></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: 0cm; mso-layout-grid-align: none; text-align: justify; text-autospace: none;"><span style="font-family: times; font-size: medium;"><b><i><span style="color: #2b00fe;">6.3 Simplified
Proforma for incorporating Company Electronically </span></i></b><b><span style="color: #2b00fe;">(<i>SPICe</i>)</span><o:p></o:p></b></span></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: 0cm; mso-layout-grid-align: none; text-align: justify; text-autospace: none;"><span style="font-family: times; font-size: medium;">The MCA has amended the Companies (Incorporation) Rules, 2014 by
the Companies (Incorporation) Fifth Amendment Rules, 2016, providing:</span></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: 0cm; mso-layout-grid-align: none; text-align: justify; text-autospace: none;"><span style="font-family: times; font-size: medium;">(i) The application for incorporation of a company shall be in
FORM No. INC-32 (SPICe) along with e-Memorandum of Association
(e-MOA) in Form No. INC-33 and e-Articles of Association (e-AOA) in Form No. INC-34.</span></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: 0cm; mso-layout-grid-align: none; text-align: justify; text-autospace: none;"><span style="font-family: times; font-size: medium;">(ii) In case of incorporation of a company falling under section
8 of the Act FORM No. INC-32 (SPICe) shall be filed along with <a href="https://www.corporatelaws.in/2016/04/Draft-MOA-and-AOA-of-Section-8-Company-in-INC-13.html" target="_blank">FORM No. INC-13(Memorandum of Association)</a> & FORM No. INC-31 (Articles of Association) as
attachments.</span></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: 0cm; mso-layout-grid-align: none; text-align: justify; text-autospace: none;"><span style="font-family: times; font-size: medium;">(iii) In case of incorporation of a company having more than
seven subscribers or where any of the subscriber to the MOA/AOA is signing at a
place outside India, MOA/AOA shall be filed with INC-32 (SPICe) in the
respective formats as specified in Table A to J in Schedule I without filing form
INC-33 and INC-34.</span></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: 0cm; mso-layout-grid-align: none; text-align: justify; text-autospace: none;"><span style="font-family: times; font-size: medium;">(iv) An application for allotment of Director Identification
Number upto three Directors, reservation of a name, incorporation of company
and appointment of Directors of the proposed One Person Company, private company,
public company and a company falling under section 8 of the Act, shall be filed
in Form No. INC-32 (SPICe), with the Registrar, within whose jurisdiction the registered
office of the company is proposed to be situated along with the fee of Rs.500
in ddition to the registration fee as specified in the Companies (Registration
Offices and Fees) Rules, 2014.</span></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: 0cm; mso-layout-grid-align: none; text-align: justify; text-autospace: none;"><span style="font-family: times; font-size: medium;">(v) Where an applicant has applied for reservation of a name and
which has been approved therein, he may fill the reserved name as proposed name
of the company:</span></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: 0cm; mso-layout-grid-align: none; text-align: justify; text-autospace: none;"><span style="font-family: times; font-size: medium;">(vi) In case of companies incorporated, with effect from the
26th day of January, 2018, with a nominal capital of less than or equal to
rupees ten lakhs or in respect of companies not having a share capital whose
number of members as stated in the articles of association does not exceed
twenty, fee on INC-32 (SPICe) shall not be applicable.]</span></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: 0cm; mso-layout-grid-align: none; text-align: justify; text-autospace: none;"><span style="font-family: times; font-size: medium;">(vii) For the purposes of filing SPICe Form, the particulars of
maximum of three directors shall be allowed to be filled in Form No. INC-32
(SPICe) and allotment of Director Identification Number of maximum of three
proposed directors shall be permitted in Form No. INC-32 (SPICe) in case of
proposed directors not having approved Director Identification Number.</span></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: 0cm; mso-layout-grid-align: none; text-align: justify; text-autospace: none;"><span style="font-family: times; font-size: medium;">(viii) The promoter or applicant of the proposed company shall
propose only one name in Form NC-32 (SPICe).</span></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: 0cm; mso-layout-grid-align: none; text-align: justify; text-autospace: none;"><span style="font-family: times; font-size: medium;">(ix) The promoter or applicant of the proposed company shall
prepare Memorandum of Association (e-MoA) in Form No. INC-33 and Articles of
Association (e-AoA) in Form No. INC-34.</span></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: 0cm; mso-layout-grid-align: none; text-align: justify; text-autospace: none;"><span style="font-family: times; font-size: medium;">(x) The subscribers and witness or witnesses shall affix their
digital signatures to the e-MoA and e-AoA.</span></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: 0cm; mso-layout-grid-align: none; text-align: justify; text-autospace: none;"><span style="font-family: times; font-size: medium;">(xi) A company using the provisions of this rule may furnish
verification of its registered office under sub-section (2) of section 12 of
the Act by filing Form No. INC-32 (SPICe) in which case the company shall
attach along with such Form No. INC-32 (SPICe), any of the documents referred
to in sub-rule (2) of rule 25.</span></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: 0cm; mso-layout-grid-align: none; text-align: justify; text-autospace: none;"><span style="font-family: times; font-size: medium;">(xii) Form No. INC-22 shall not be required to be filed in case
the proposed company maintains its registered office at the given
correspondence address.</span></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: 0cm; mso-layout-grid-align: none; text-align: justify; text-autospace: none;"><span style="font-family: times; font-size: medium;">(xiii) Where the Registrar, on examining Form No. INC-32 (SPICe)
finds that it is necessary to call for further information or finds such
application or document to be defective or incomplete in any respect, he shall
give intimation to the applicant to remove the defects and re-submit the e-form
within 15 days from the date of such intimation given by the Registrar.</span></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: 0cm; mso-layout-grid-align: none; text-align: justify; text-autospace: none;"><span style="font-family: times; font-size: medium;">(xiv) After the resubmission of the document, if the Registrar
still finds that the document is defective or incomplete in any respect, he
shall give one more opportunity of 15 days to remove such defects or
deficiencies. The total period for re-submission of documents shall not exceed
30 days.</span></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: 0cm; mso-layout-grid-align: none; text-align: justify; text-autospace: none;"><span style="font-family: times; font-size: medium;">(xv) The Certificate of Incorporation of company shall be issued
by the Registrar in Form No. INC-11.</span></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: 0cm; mso-layout-grid-align: none; text-align: justify; text-autospace: none;"><b><span style="color: #2b00fe; font-family: times; font-size: medium;">7. Application for
registration of the Goods and Service Tax Identification Number (GSTIN), Employees’
State Insurance Corporation (ESIC) registration and Employees’ Provident Fund Organisation
(EPFO) Registration, Professional Tax, PAN, TAN, Opening of Bank Accounts</span></b></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: 0cm; mso-layout-grid-align: none; text-align: justify; text-autospace: none;"><span style="font-family: times; font-size: medium;">The Ministry of Corporate Affairs has inserted new Rule 38A vide
the Companies (Incorporation) Third Amendment Rules, 2019, w.e.f. 29-3-2019
which provides that an application for incorporation of a company under rule 38
shall be accompanied by e-form AGILE (INC-35) containing an application for registration
of the following numbers, namely:–<o:p></o:p></span></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: 0cm; mso-layout-grid-align: none; text-align: justify; text-autospace: none;"><span style="font-family: times; font-size: medium;">(a) GSTIN with effect from 31st March, 2019;<o:p></o:p></span></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: 0cm; mso-layout-grid-align: none; text-align: justify; text-autospace: none;"><span style="font-family: times; font-size: medium;">(b) EPFO with effect from 8th April, 2019;<o:p></o:p></span></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: 0cm; mso-layout-grid-align: none; text-align: justify; text-autospace: none;"><span style="font-family: times; font-size: medium;">(c) ESIC with effect from 15th April, 2019<o:p></o:p></span></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: 0cm; mso-layout-grid-align: none; text-align: justify; text-autospace: none;"><span style="font-family: times; font-size: medium;">(d) Profession Tax Registration with effect from the 23rd
February, 2020<o:p></o:p></span></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: 0cm; mso-layout-grid-align: none; text-align: justify; text-autospace: none;"><span style="font-family: times; font-size: medium;">(e) Opening of Bank Account with effect from 23rd February, 2020</span></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: 0cm; mso-layout-grid-align: none; text-align: justify; text-autospace: none;"><b><span style="color: #2b00fe; font-family: times; font-size: medium;">8. Issuance of Certificate of
Incorporation and allotment of Corporate Identity Number</span></b></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: 0cm; mso-layout-grid-align: none; text-align: justify; text-autospace: none;"><span style="font-family: times; font-size: medium;">On the satisfaction of the Registrar that all the requirements
specified in section 7(1) have been complied with by the company, he shall
retain the documents and register the MOA, AOA and other documents. Section
7(2) cast an obligation on the Registrar to issue a Certificate of
Incorporation in the Form INC-11 normally within 7 days of the receipt of
documents.</span></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: 0cm; mso-layout-grid-align: none; text-align: justify; text-autospace: none;"><span style="font-family: times; font-size: medium;">On and from the date mentioned in the certificate of
incorporation issued under sub-section (2), the Registrar shall allot to the
company a corporate identity number, which shall be a distinct identity for the
company and which shall also be included in the certificate. The date of
registration of a company is the date mentioned in the certificate and not that
on which the signature of the Registrar was written. </span><span style="font-family: Times New Roman, serif; font-size: 10pt;"><o:p></o:p></span></p><h3 style="margin-bottom: 0.0001pt; text-align: justify;"><br /></h3><span style="font-family: times;"><div style="text-align: justify;"><b><span style="color: red; font-size: x-large;">Frequently Asked Question - FAQ on company registration in India</span></b></div><br /></span><div><h3 style="text-align: left;"><span style="font-family: times; font-size: medium;"><b><span style="color: #2b00fe;">How do I register a company in India in 2023 ?</span></b></span></h3><span style="font-family: times; font-size: medium;"><div style="text-align: justify;">You can register a company in India in 2023 through Simplified Proforma for Incorporating Company electronically SPICe -INC-32 with eMoA (INC-33) and eAOA (INC-34). It is the default option and most of the companies are required to be registered through SPICe only.</div><br /></span></div><div><h3 style="text-align: left;"><span style="font-family: times; font-size: medium;"><span style="color: #2b00fe;"><b>How much does it cost to register a company in India?</b></span></span></h3><span style="font-family: times; font-size: medium;"><div style="text-align: justify;">The cost of registration of company depends on multiple factors such as type of company (private limited, public limited, Section 8, OPC etc.), authorized capital, availability of DIN and digital signature of directors, professional fees of consultant. So it is difficult to quote a fix amount but to give you a rough idea, I can say if you want to register a private limited company with authorized capital of Rs. 1 lakh it will cost you minimum 6000 to 7000 rupees.</div><br /></span><h3 style="text-align: left;"><span style="font-family: times; font-size: medium;"><span style="color: #2b00fe;"><b>How much time it will take to register a company in India?</b></span></span></h3><span style="font-family: times; font-size: medium;"><div style="text-align: justify;">Under the ease of doing business initiative government of India is continuously taking various measures to reduce the complexity and time required for obtaining necessary government approval for the establishment and operation of businesses in India. Accordingly Ministry of Corporate Affairs (MCA) has introduced SPICe, under which with a single application you can apply for approval of DIN, Company Name, MOA & AOA, PAN & TAN etc., so now you can get your company registered within 6-7 days.</div><div style="text-align: justify;"><br /></div><h3 style="text-align: justify;"><span style="color: #2b00fe; font-size: medium;"><b>What are the documents required for company registration in India?</b></span></h3>A. Documents Required for obtaining Digital Signature Certificate (DSC)<br />1. PAN Card of the Applicant<br />2. Address Proof of the applicant<br /><br />B. Documents required for obtaining Director Identification Number (DIN)<br />1. PAN Card<br />2. Address Proof<br />3. Residential Proof (it should not be older than 3 months)<br /><br />C. The documents required for a company’s office address registration<br />1. Copy of rent agreement or lease deed (if rented) or property papers<br />2. Copy of electricity bill<br />3. Copy of NOC (No Objection Certificate) from the landlord<br />4. Copy of Aadhaar Card and PAN Card of the landlord<br /><br />D. Memorandum of Association (MOA) and Articles of Association (AOA) of the company.<br /></span><p class="MsoNormal" style="line-height: normal; margin-bottom: 0.0001pt;"><b style="color: red; font-family: times; font-size: large; text-align: justify;"><br /></b></p><p class="MsoNormal" style="line-height: normal; margin-bottom: 0.0001pt;"><b style="color: red; font-family: times; font-size: large; text-align: justify;">Related Post :</b></p><p class="MsoNormal" style="line-height: normal; margin-bottom: 0.0001pt;"><a href="https://www.corporatelaws.in/2016/12/Procedure-Incorporation-Section-8-Company.html" style="font-family: times; font-size: large; text-align: justify;" target="_blank"><span style="color: #2b00fe;"><b>Procedure To Incorporate Section 8 Company</b></span></a></p></div>
<script type="application/ld+json">{"@context":"https://schema.org","@type":"FAQPage","mainEntity":[{"@type":"Question","name":"How do I register a company in India in 2021 ?","acceptedAnswer":[{"@type":"Answer","text":"You can register a company in India in 2021 through Simplified Proforma for Incorporating Company electronically SPICe -INC-32 with eMoA (INC-33) and eAOA (INC-34). It is the default option and most of the companies are required to be registered through SPICe only.\n"}]},{"@type":"Question","name":"How much does it cost to register a company in India?","acceptedAnswer":[{"@type":"Answer","text":"The cost of registration of company depends on multiple factors such as type of company (private limited, public limited, Section 8, OPC etc.), authorized capital, availability of DIN and digital signature of directors, professional fees of consultant. So it is difficult to quote a fix amount but to give you a rough idea, I can say if you want to register a private limited company with authorized capital of Rs. 1 lakh it will cost you minimum 6000 to 7000 rupees."}]},{"@type":"Question","name":"How much time it will take to register a company in India?","acceptedAnswer":[{"@type":"Answer","text":"Under the ease of doing business initiative government of India is continuously taking various measures to reduce the complexity and time required for obtaining necessary government approval for the establishment and operation of businesses in India. Accordingly Ministry of Corporate Affairs (MCA) has introduced SPICe, under which with a single application you can apply for approval of DIN, Company Name, MOA & AOA, PAN & TAN etc., so now you can get your company registered within 6-7 days."}]},{"@type":"Question","name":"What are the documents required for company registration in India?","acceptedAnswer":[{"@type":"Answer","text":"A. Documents Required for obtaining Digital Signature Certificate (DSC)\n1. PAN Card of the Applicant\n2. Address Proof of the applicant\n\nB. Documents required for obtaining Director Identification Number (DIN)\n1. PAN Card\n2. Address Proof\n3. Residential Proof (it should not be older than 3 months)\n\nC. The documents required for a company’s office address registration\n1. Copy of rent agreement or lease deed (if rented) or property papers\n2. Copy of electricity bill\n3. Copy of NOC (No Objection Certificate) from the landlord\n4. Copy of Aadhaar Card and PAN Card of the landlord\n\nD. Memorandum of Association (MOA) and Articles of Association (AOA) of the company."}]}]}</script><!--Generated by https://www.matthewwoodward.co.uk/-->CS Ashish Jainhttp://www.blogger.com/profile/00427323626525507645noreply@blogger.comtag:blogger.com,1999:blog-5686816402528651075.post-22341866753874066612021-02-18T01:37:00.005+05:302023-03-04T20:53:22.982+05:30How To Start an LLC In Texas in 2023<p></p><div style="text-align: center;"> <img alt="How-To-Start-LLC-In-Texas-2023" border="0" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEg80JUu0RMckjsoC4oZ-UunIc5kzisjEofDS_W7n0syVaVMraGWpvHy7Stk9I8JEECIwVciSPps-2T70SdlSjChBlt0ZvT1Jt1LrmnKM_r9PhQlv3xxxo3aVrqrCvYmwbHp_4YmFZvAd7o/s16000/How-To-Start-LLC-In-Texas-2021.webp" title="How To Start an LLC In Texas in 2023" /></div><span><a name='more'></a></span><div style="text-align: center;"><br /></div><p></p><h2 style="line-height: normal; text-align: justify;"><b style="mso-bidi-font-weight: normal;"><span style="background: white;"><span style="color: #2b00fe; font-family: times; font-size: large;">What does LLC stand for
?</span></span></b></h2>
<p class="MsoNormal" style="line-height: normal; text-align: justify;"><span style="background: white; color: #272727;"><span style="font-family: times; font-size: large;">LLC stands for "Limited Liability Company”.</span></span></p><h2 style="line-height: normal; text-align: justify;"><b style="mso-bidi-font-weight: normal;"><span style="background: white;"><span style="color: #2b00fe; font-family: times; font-size: large;">What is an LLC ?</span></span></b></h2>
<p class="MsoNormal" style="line-height: normal; text-align: justify;"><span style="background: white; color: #272727;"><span style="font-family: times; font-size: large;">A limited liability company (LLC) is a business entity in USA,
in which the liability of its members is limited and members are not personally
liable for the debts or liabilities of Limited liability companies. LLC is
hybrid entities that have the characteristics of a corporation as well as of a
partnership/ sole proprietorship.<o:p></o:p></span></span></p>
<p class="MsoNormal" style="line-height: normal; text-align: justify;"><span style="background: white; color: #272727;"><span style="font-family: times; font-size: large;">LLC offers personal liability protection to protect your
personal assets in the event your business is sued with the pass-through
taxation of a sole proprietorship or partnership.<o:p></o:p></span></span></p>
<p class="MsoNormal" style="line-height: normal; text-align: justify;"><span style="background: white; color: #272727;"><span style="font-family: times; font-size: large;">An LLC can be formed with one or more people, who are known
as “members” of LLC. An LLC having one owner is known as a single-member LLC whereas
an LLC having more than one owner is known as a multi-member LLC.<o:p></o:p></span></span></p>
<p class="MsoNormal" style="line-height: normal; text-align: justify;"><span style="background: white;"><span style="font-family: times; font-size: large;">LLCs<span style="color: #272727;"> are very popular and preferred over a corporation because
they have the same characteristic of limited liability as a corporation, but at
the same time is much easier and cheaper to set up and operate.</span></span></span></p>
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<h2 style="line-height: normal; text-align: justify;"><b style="mso-bidi-font-weight: normal;"><span style="background: white;"><span style="color: #2b00fe; font-family: times; font-size: large;">How To Start an LLC In
Texas in 2023 ?</span></span></b></h2>
<p class="MsoNormal" style="line-height: normal; text-align: justify;"><span style="font-family: times; font-size: large;">If you want to
start an LLC in Texas you have two options, first you can form one yourself or
you may hire the service registered agents to do it for you. <o:p></o:p></span></p>
<p class="MsoNormal" style="line-height: normal; text-align: justify;"><span style="font-family: times; font-size: large;">If you want to form
an LLC in Texas on your own you have to follow the stepwise procedure described
below.</span></p>
<h3 style="line-height: normal; text-align: justify;"><b style="mso-bidi-font-weight: normal;"><span style="color: red; font-family: times; font-size: large;">1. Reservation of Name for your LLC</span></b></h3>
<p class="MsoNormal" style="line-height: normal; text-align: justify;"><span style="font-family: times; font-size: large;">Every state has its
own rules about what kind of names are allowed for LLCs. In general, you will need
to observe these naming guidelines. Your name must include the phrase Limited
Liability Company or one of its abbreviations, LLC or L.L.C. with a period
following each letter. Restricted words such as bank, attorney, law office,
etc., may require additional paperwork and may also need a licensed professional
to be part of the LLC. Your name cannot include words that could confuse your LLC with a government agency such as FBI, Treasury, state department, etc. You
cannot use a name that has already been registered. To see if your name is
available in your state, you will need to do a name search. This service is available
on your <a href="https://www.sos.state.tx.us/corp/sosda/" rel="nofollow" target="_blank">state Secretary of State website</a>. <o:p></o:p></span></p>
<p class="MsoNormal" style="line-height: normal; text-align: justify;"><span style="font-family: times; font-size: large;">For the Reservation
or Renewal of Reservation of a Name an application in Form 501 is to
be filed with the Texas Secretary of State. The application may be filed online
through the website of Texas Secretary of State SOS Direct or by
mail. The filing fee is $40 and you may reserve a name for a maximum period of 120
days.</span></p>
<h3 style="line-height: normal; text-align: justify;"><b style="mso-bidi-font-weight: normal;"><span style="color: red; font-family: times; font-size: large;">2. Selection of a registered agent</span></b></h3>
<p class="MsoNormal" style="line-height: normal; text-align: justify;"><span style="font-family: times; font-size: large;">Texas requires
that you nominate a registered agent who then must consent to appointment in written
or electronic form. You can get a consent form 401-A at the Texas Secretary of
State website, but it does not need to be filed. The registered agent can be an
individual within the company including yourself, or you can hire a professional
service authorized to do business in Texas. They will send and receive legal
papers on your behalf. These documents included official correspondence like
legal summons and document filings which your registered agent will receive and
forward to you. Your registered agent will help remind you to file the
necessary reports. Failure to properly maintain your Lucan result in fines and dissolution.
So this assistance is valuable.</span></p>
<h3 style="line-height: normal; text-align: justify;"><b style="mso-bidi-font-weight: normal;"><span style="color: red; font-family: times; font-size: large;">3. Filing of Certificate of Formation</span></b></h3>
<p style="background: white; margin-bottom: 6.0pt; margin-left: 0cm; margin-right: 0cm; margin-top: 0cm; margin: 0cm 0cm 6pt; text-align: justify;"><span style="font-family: times; font-size: large;">The
Certificate of Formation is required to be <a href="https://direct.sos.state.tx.us/acct/acct-login.asp" rel="nofollow" target="_blank">filed with the Secretary of State</a> for
registering your Texas LLC, this can be done online or by mail. This will cost you
$300. You will need to mention that whether your LLC will be member managed or
manager managed. In Member managed LLC all members of the LLC manage the company.
This is good for small organizations where everyone is involved in day-to-day operations.
The 2<sup>nd</sup> option is manager managed, where LLC is managed by individuals
appointed for this purpose. This is appropriate for larger organizations, where
not everyone is involved in the day-to-day affairs of the business. The
certificate must include:<o:p></o:p></span></p>
<ul type="disc">
<li class="MsoNormal" style="background: white; line-height: normal; margin-bottom: 7.5pt; mso-list: l2 level1 lfo2; mso-margin-top-alt: auto; tab-stops: list 36.0pt; text-align: justify;"><span style="font-family: times; font-size: large;">the LLC's name, including the chosen LLC
designation<o:p></o:p></span></li>
<li class="MsoNormal" style="background: white; line-height: normal; margin-bottom: 7.5pt; mso-list: l2 level1 lfo2; mso-margin-top-alt: auto; tab-stops: list 36.0pt; text-align: justify;"><span style="font-family: times; font-size: large;">name & address of the registered agent<o:p></o:p></span></li>
<li class="MsoNormal" style="background: white; line-height: normal; margin-bottom: 7.5pt; mso-list: l2 level1 lfo2; mso-margin-top-alt: auto; tab-stops: list 36.0pt; text-align: justify;"><span style="font-family: times; font-size: large;">will LLC be member managed or manager managed<o:p></o:p></span></li>
<li class="MsoNormal" style="background: white; line-height: normal; margin-bottom: 7.5pt; mso-list: l2 level1 lfo2; mso-margin-top-alt: auto; tab-stops: list 36.0pt; text-align: justify;"><span style="font-family: times; font-size: large;">in the case of member managed LLC, the name and
address of each initial member<o:p></o:p></span></li>
<li class="MsoNormal" style="background: white; line-height: normal; margin-bottom: 7.5pt; mso-list: l2 level1 lfo2; mso-margin-top-alt: auto; tab-stops: list 36.0pt; text-align: justify;"><span style="font-family: times; font-size: large;">in the case of manager managed LLC, the name and
address of each initial manager<o:p></o:p></span></li>
<li class="MsoNormal" style="background: white; line-height: normal; margin-bottom: 7.5pt; mso-list: l2 level1 lfo2; mso-margin-top-alt: auto; tab-stops: list 36.0pt; text-align: justify;"><span style="font-family: times; font-size: large;">the general-purpose clause <o:p></o:p></span></li>
<li class="MsoNormal" style="background: white; line-height: normal; margin-bottom: 7.5pt; mso-list: l2 level1 lfo2; mso-margin-top-alt: auto; tab-stops: list 36.0pt; text-align: justify;"><span style="font-family: times; font-size: large;">the name and address of the organizer<o:p></o:p></span></li>
<li class="MsoNormal" style="background: white; line-height: normal; margin-bottom: 7.5pt; mso-list: l2 level1 lfo2; mso-margin-top-alt: auto; tab-stops: list 36.0pt; text-align: justify;"><span style="font-family: times; font-size: large;">an effective date of the certificate<o:p></o:p></span></li>
<li class="MsoNormal" style="background: white; line-height: normal; margin-bottom: 7.5pt; mso-list: l2 level1 lfo2; mso-margin-top-alt: auto; tab-stops: list 36.0pt; text-align: justify;"><span style="font-family: times; font-size: large;">the signature of the organizer.</span></li></ul>
<h3 style="line-height: normal; text-align: center;"><span style="color: red; font-family: times; font-size: large;"><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEi568zUvpFTOtysOhIm2yBDjB1jXa3ttwcEChQJodUcpryENZB-dK5N31lEbJ6MYNfAw5UJmvOc8fHHrYMRM_24ChI9VQPKCamGmPDg2ILPlBV9CSjvRRlt_Emgb4vBys4MLjBZQuNYq1E/s688/certificate-of-formation.png" style="margin-left: 1em; margin-right: 1em;"><img alt="certificate-of-formation-llp" border="0" data-original-height="577" data-original-width="688" height="536" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEi568zUvpFTOtysOhIm2yBDjB1jXa3ttwcEChQJodUcpryENZB-dK5N31lEbJ6MYNfAw5UJmvOc8fHHrYMRM_24ChI9VQPKCamGmPDg2ILPlBV9CSjvRRlt_Emgb4vBys4MLjBZQuNYq1E/w640-h536/certificate-of-formation.png" title="certificate of formation for llp" width="640" /></a></div><b style="mso-bidi-font-weight: normal;"><br /></b></span></h3><h3 style="line-height: normal; text-align: justify;"><span style="color: red; font-family: times; font-size: large;"><b style="mso-bidi-font-weight: normal;">4. Create an operating agreement</b></span></h3>
<p style="background: white; margin-bottom: 6.0pt; margin-left: 0cm; margin-right: 0cm; margin-top: 0cm; margin: 0cm 0cm 6pt; text-align: justify;"><span style="font-family: times; font-size: large;">Although
not every state requires it, you should always create an operating agreement to
establish ownership terms and member roles for your LLC. These foundational documents
the core of your Land will help you maintain your organizations well as further
establish your Lilacs a separate legal entity. There are 6 main sections of an
operating agreement. The organization outlines when and where the company was created,
who the members are, and how the ownership is structured. Management & voting
addresses how the company is managed as well as how the members vote. Capital
contributions covers which members financially support the LLC and how more funds
will be raised in the future. Distributions outline how the company’s profits
and losses are shared among members. Membership changes describe the process
for adding or removing members as well as if and when members can transfer
their ownership shares. And dissolution, which explains the circumstances in
which the LLC may be dissolved. An operating agreement an internal document.
It does not need to be filed with the state. However, it should be updated
every time there’s a change in membership or management at the company. The
operating agreement should include the following:<o:p></o:p></span></p>
<ul type="disc">
<li class="MsoNormal" style="background: white; line-height: normal; margin-bottom: 7.5pt; mso-list: l1 level1 lfo3; mso-margin-top-alt: auto; tab-stops: list 36.0pt; text-align: justify;"><span style="font-family: times; font-size: large;">the members' percentage interests in the LLC<o:p></o:p></span></li>
<li class="MsoNormal" style="background: white; line-height: normal; margin-bottom: 7.5pt; mso-list: l1 level1 lfo3; mso-margin-top-alt: auto; tab-stops: list 36.0pt; text-align: justify;"><span style="font-family: times; font-size: large;">the members' rights and responsibilities<o:p></o:p></span></li>
<li class="MsoNormal" style="background: white; line-height: normal; margin-bottom: 7.5pt; mso-list: l1 level1 lfo3; mso-margin-top-alt: auto; tab-stops: list 36.0pt; text-align: justify;"><span style="font-family: times; font-size: large;">the members' voting powers<o:p></o:p></span></li>
<li class="MsoNormal" style="background: white; line-height: normal; margin-bottom: 7.5pt; mso-list: l1 level1 lfo3; mso-margin-top-alt: auto; tab-stops: list 36.0pt; text-align: justify;"><span style="font-family: times; font-size: large;">how profits and losses will be allocated<o:p></o:p></span></li>
<li class="MsoNormal" style="background: white; line-height: normal; margin-bottom: 7.5pt; mso-list: l1 level1 lfo3; mso-margin-top-alt: auto; tab-stops: list 36.0pt; text-align: justify;"><span style="font-family: times; font-size: large;">rules for holding meetings and taking votes,
and<o:p></o:p></span></li>
<li class="MsoNormal" style="background: white; line-height: normal; margin-bottom: 7.5pt; mso-list: l1 level1 lfo3; mso-margin-top-alt: auto; tab-stops: list 36.0pt; text-align: justify;"><span style="font-family: times; font-size: large;">buyout, or buy-sell, provisions, which determine what happens when a member wants to sell his or her interest,
dies, or becomes disabled.</span></li></ul>
<h3 style="line-height: normal; text-align: justify;"><b style="mso-bidi-font-weight: normal;"><span style="color: red; font-family: times; font-size: large;">5. Obtaining an Employer Identification Number (EIN) </span></b></h3>
<p class="MsoNormal" style="line-height: normal; text-align: justify;"><span style="font-family: times; font-size: large;">After completing all
the above process you will need to get an Employer Identification Number or
EIN, from the IRS. Also known as a Federal Tax Identification Number, your EIN
is like a social security number for your Land is how the IRS tracks your
business for tax purposes. An EIN is also necessary to open a business banking account
and legally hire employees. EIN’s are free of charge and can be <a href="https://www.irs.gov/businesses/small-businesses-self-employed/apply-for-an-employer-identification-number-ein-online" rel="nofollow" target="_blank">obtained from theirsonline</a> or through the mail. And with that, you have formed Texas LLC on your own.</span></p>
<h3 style="line-height: normal; text-align: center;"><span style="mso-bidi-font-weight: normal;"><div class="separator" style="clear: both; font-weight: bold; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjZhdl2lfp_M9iLOZpiVQvH2Gv0run-Gn6bKofO4WdFVAcMRoWe8t1dzvzV9AUygO_T47qmD_IhdjVeJWvdderLeUbwdPx_e-VDG6IcrnVrQUDDLc62MFjjlQyTBZLFrRcz-PdHMSDWLhU/s557/Employer+Identification+Number+EIN.png" style="margin-left: 1em; margin-right: 1em;"><img alt="Employer-Identification-Number-EIN" border="0" data-original-height="473" data-original-width="557" height="544" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjZhdl2lfp_M9iLOZpiVQvH2Gv0run-Gn6bKofO4WdFVAcMRoWe8t1dzvzV9AUygO_T47qmD_IhdjVeJWvdderLeUbwdPx_e-VDG6IcrnVrQUDDLc62MFjjlQyTBZLFrRcz-PdHMSDWLhU/w640-h544/Employer+Identification+Number+EIN.png" title="Employer Identification Number" width="640" /></a></div><br /><div style="text-align: left;"><b style="mso-bidi-font-weight: normal; text-align: justify;"><span style="color: red; font-family: times; font-size: large;">6. Filing of Annual Report</span></b></div></span></h3>
<p class="MsoNormal" style="line-height: normal; text-align: justify;"><span style="font-family: times; font-size: large;">Keep in mind Texas
LLCs are required to file an annual report and franchise tax together. LLCs
with annual revenue below $1.1 million do not pay any franchise tax, but
must file a no tax due report. LLCs with annual revenue of greater than $1.1
million pay a graduated tax that is calculated based on a complex formula. This
is due by May 15th each year.</span></p>
<p class="MsoNormal" style="line-height: normal; text-align: justify;"><span style="font-family: times; font-size: large;"><b style="mso-bidi-font-weight: normal;">The second way to create a Texas LLC</b> is to hire a
professional service to create LLC for you. Hiring a professional service for
filing your forms and act as your registered agent for the LLC will cost you some
additional amount. However, there are several benefits to working with a hired
registered agent it helps in getting your reports filed on time, helps you stay
organized by keeping your business mail separate, and is available at all
regular business hours to accept official mail and legal papers on your LLC's behalf.
A final and important additional benefit of using a service is privacy. A
professional service will provide a level of privacy by withholding your personal
name and home address from the LLC's contact information. There are many
reasons you might not want your personal information easily accessible and
associated with your business. Hiring a professional formation service an
easy way to accomplish this. <o:p></o:p></span></p>
<p class="MsoNormal" style="line-height: normal; text-align: justify;"><span style="font-family: times; font-size: large;">I hope after
reading this article now you have got a very good idea of what steps are required and
procedure to be followed to set up an LLC in Texas.</span></p>
<h2 style="line-height: normal; text-align: justify;"><b style="mso-bidi-font-weight: normal;"><span style="color: #2b00fe; font-family: times; font-size: large;">How much it cost to set up LLC in Texas ?</span></b></h2>
<ul type="disc">
<li class="MsoNormal" style="background: white; line-height: normal; margin-bottom: 7.5pt; mso-list: l0 level1 lfo1; mso-margin-top-alt: auto; tab-stops: list 36.0pt; text-align: justify;"><span style="font-family: times; font-size: large;">Filing fee of $300 is to be paid to The Texas
Secretary of State, in addition to this an additional state-mandated 2.7%
convenience fee is also required to be paid for filing an LLC Certificate
of Formation.<o:p></o:p></span></li>
<li class="MsoNormal" style="background: white; line-height: normal; margin-bottom: 7.5pt; mso-list: l0 level1 lfo1; mso-margin-top-alt: auto; tab-stops: list 36.0pt; text-align: justify;"><span style="font-family: times; font-size: large;">If you want to reserve your LLC name before filing
the Certificate of Formation, fees of $40 is to be paid to file a name
reservation application.</span></li></ul>
<div class="separator" style="clear: both; text-align: center;"><iframe allowfullscreen="" class="BLOG_video_class" height="266" src="https://www.youtube.com/embed/b_WIa1oJ-RM" width="320" youtube-src-id="b_WIa1oJ-RM"></iframe></div><br /><h2 style="line-height: normal; text-align: justify;"></h2><h2><b><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">Frequently
Asked Questions – FAQs </span></b></h2>
<p class="MsoNormal" style="text-align: justify;"><span style="font-family: "Times New Roman", "serif"; font-size: 14pt; line-height: 115%;">1. What is an LLC and
why should you start one in Texas?<span style="font-weight: normal;"><o:p></o:p></span></span></p>
<p class="MsoNormal" style="text-align: justify;"><span style="font-family: "Times New Roman", "serif"; font-size: 14pt; font-weight: normal; line-height: 115%;">An LLC or Limited
Liability Company is a popular business structure that offers personal
liability protection to its owners or members while providing flexibility in
management and taxation. Starting an LLC in Texas is an excellent way to
protect your personal assets while minimizing your tax liabilities.<o:p></o:p></span></p>
<p class="MsoNormal" style="text-align: justify;"><span style="font-family: "Times New Roman", "serif"; font-size: 14pt; line-height: 115%;">2. What are the key benefits
of starting an LLC in Texas?<span style="font-weight: normal;"><o:p></o:p></span></span></p>
<p class="MsoNormal" style="text-align: justify;"><span style="font-family: "Times New Roman", "serif"; font-size: 14pt; font-weight: normal; line-height: 115%;">Starting an LLC in
Texas has several benefits, including personal liability protection, pass-through
taxation, minimal compliance requirements, and a business-friendly regulatory
environment. Additionally, Texas has a low-tax environment, making it an
attractive state for entrepreneurs and small business owners.<o:p></o:p></span></p>
<p class="MsoNormal" style="text-align: justify;"><span style="font-family: "Times New Roman", "serif"; font-size: 14pt; line-height: 115%;">3. What are the pre requirements
for starting an LLC in Texas?<span style="font-weight: normal;"><o:p></o:p></span></span></p>
<p class="MsoNormal" style="text-align: justify;"><span style="font-family: "Times New Roman", "serif"; font-size: 14pt; font-weight: normal; line-height: 115%;">For starting an LLC in
Texas, you need to file a certificate of formation with the Texas Secretary of
State with a requisite filing fee. You have to appoint a registered agent with
a physical address in Texas and create an operating agreement outlining your
LLC's management and ownership structure.<o:p></o:p></span></p>
<p class="MsoNormal" style="text-align: justify;"><span style="font-family: "Times New Roman", "serif"; font-size: 14pt; line-height: 115%;">5. How long does it
take to start an LLC in Texas?<span style="font-weight: normal;"><o:p></o:p></span></span></p>
<p class="MsoNormal" style="text-align: justify;"><span style="font-family: "Times New Roman", "serif"; font-size: 14pt; font-weight: normal; line-height: 115%;">It generally takes two
to three weeks for processing the application for starting an LLC in Texas is.
However, depending on the workload of the Texas Secretary of State's office and
any errors or omissions in your filing, this timeline may vary.<o:p></o:p></span></p>
<p class="MsoNormal" style="text-align: justify;"><span style="font-family: "Times New Roman", "serif"; font-size: 14pt; line-height: 115%;">6. Can a non-US
residen</span><span style="font-family: "Times New Roman", "serif"; font-size: 14pt; line-height: 115%;">t form an LLC in Texas?<span style="font-weight: normal;"><o:p></o:p></span></span></p>
<p class="MsoNormal" style="text-align: justify;"><span style="font-family: "Times New Roman", "serif"; font-size: 14pt; font-weight: normal; line-height: 115%;">Yes, anyone can form an
LLC in Texas provided if you have a physical address in Texas and appoint a
registered agent with a physical address in the state.<o:p></o:p></span></p>
<p class="MsoNormal" style="text-align: justify;"><span style="font-family: "Times New Roman", "serif"; font-size: 14pt; line-height: 115%;">7. What is Texas LLC
Annual Filing Requirements?<span style="font-weight: normal;"><o:p></o:p></span></span></p>
<p class="MsoNormal" style="text-align: justify;"><span style="font-family: "Times New Roman", "serif"; font-size: 14pt; font-weight: normal; line-height: 115%;">An annual
report & Franchise Tax are to be filed with the Texas
Comptroller of Public Accounts by LLCs in Texas and this can only be done
online at the website of Texas Comptroller. For this purpose you have to
create an online account.</span></p>
<p class="MsoNormal" style="text-align: justify;"><span style="font-family: "Times New Roman", "serif"; font-size: 14pt; line-height: 115%;">8. Can I form an LLC on
my own or do I need to hire a lawyer?<span style="font-weight: normal;"><o:p></o:p></span></span></p>
<p class="MsoNormal" style="text-align: justify;"><span style="font-family: "Times New Roman", "serif"; font-size: 14pt; font-weight: normal; line-height: 115%;">You can form an LLC on
your own in Texas, but it's recommended that you hire a lawyer or use an online
formation service to ensure that everything is done correctly. Forming an LLC
involves many legal requirements and it's important to make sure that all documents
are properly drafted and filed.<o:p></o:p></span></p>
<p class="MsoNormal" style="text-align: justify;"><span style="font-family: "Times New Roman", "serif"; font-size: 14pt; line-height: 115%;">9. Do I need to have a
registered agent for my LLC in Texas?<span style="font-weight: normal;"><o:p></o:p></span></span></p>
<p class="MsoNormal" style="text-align: justify;"><span style="font-family: "Times New Roman", "serif"; font-size: 14pt; font-weight: normal; line-height: 115%;">Yes, you need to have a
registered agent for your LLC in Texas. A registered agent is a person or
company that receives legal documents and other official correspondence on
behalf of your LLC. You can be your own registered agent or hire a professional
service to act as your registered agent.<o:p></o:p></span></p>
<p class="MsoNormal" style="text-align: justify;"><span style="font-family: "Times New Roman", "serif"; font-size: 14pt; line-height: 115%;">10. What is a Texas
franchise tax and do I need to pay it?<span style="font-weight: normal;"><o:p></o:p></span></span></p>
<p class="MsoNormal" style="text-align: justify;"><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;"><span style="font-weight: normal;">A Texas franchise tax
is a tax on businesses that is based on the amount of revenue they generate.
Most LLCs in Texas are subject to the franchise tax, but there are some
exemptions and deductions that may apply. You should take advise of a tax
professional to determine your specific tax liabilities.</span><o:p></o:p></span></p><p class="MsoNormal" style="background: white; line-height: normal; margin-bottom: 7.5pt; mso-margin-top-alt: auto; text-align: justify;"><span style="color: #2b00fe; font-family: times; font-size: large;"><b>Related Post ;</b></span></p><p class="MsoNormal" style="background: white; line-height: normal; margin-bottom: 7.5pt; mso-margin-top-alt: auto; text-align: justify;"><span style="font-family: times; font-size: large;"></span></p><span style="color: red; font-family: times; font-size: large;"><b><a href="http://www.corporatelaws.in/2017/01/How-To-Register-Limited-Liability-Company-LLC-in-USA.html" target="_blank"><span style="color: red;">How To Register a Limited Liability Company (LLC) in USA</span></a></b></span>
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CS Ashish Jainhttp://www.blogger.com/profile/00427323626525507645noreply@blogger.comUnited States37.09024 -95.7128918.780006163821156 -130.869141 65.400473836178847 -60.556641tag:blogger.com,1999:blog-5686816402528651075.post-31934278401273193392021-02-15T23:37:00.003+05:302021-03-11T23:39:28.394+05:30Companies (Incorporation) Second Amendment Rules, 2021<div style="text-align: center;"><span style="font-family: times; font-size: medium;"><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhg_8QF18XhCpxTPpiPGuS4LlcyFHbmmq3icqdz5U2GV-RQ5UEvv58UH156Eo4f-AdA1k-FF3eFGDmPdeM_sMBvrpkcpHmosBYgRua0fH5uUBXfcyZORyhUr_33FTEE6V0gWTqq_zlC8iQ/s300/Companies-Incorporation-Second-Amendment-Rules-2021.webp" style="margin-left: 1em; margin-right: 1em;"><img alt="Companies-Incorporation-Second-Amendment-Rules-2021" border="0" data-original-height="168" data-original-width="300" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhg_8QF18XhCpxTPpiPGuS4LlcyFHbmmq3icqdz5U2GV-RQ5UEvv58UH156Eo4f-AdA1k-FF3eFGDmPdeM_sMBvrpkcpHmosBYgRua0fH5uUBXfcyZORyhUr_33FTEE6V0gWTqq_zlC8iQ/s16000/Companies-Incorporation-Second-Amendment-Rules-2021.webp" title="Companies (Incorporation) Second Amendment Rules, 2021" /></a></div><span><a name='more'></a></span><div class="separator" style="clear: both; text-align: center;"><br /></div></span></div><div style="text-align: center;"><span style="font-family: times; font-size: medium;"><b>GOVERNMENT OF INDIA</b></span></div><p align="center" class="MsoNormal" style="background: white; line-height: normal; margin-bottom: 7.5pt; text-align: center;"><span style="font-family: times; font-size: medium;"><b><span style="color: #475055;">MINISTRY OF CORPORATE AFFAIRS</span><span style="color: #475055;"><o:p></o:p></span></b></span></p>
<p align="center" class="MsoNormal" style="background: white; line-height: normal; margin-bottom: 7.5pt; text-align: center;"><span style="color: #475055;"><span style="font-family: times; font-size: medium;"><b>NOTIFICATION</b></span></span><span style="color: #475055; font-family: "Times New Roman",serif; font-size: 12pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-IN;"><o:p></o:p></span></p>
<p align="right" class="MsoNormal" style="background: white; line-height: normal; margin-bottom: 7.5pt; text-align: right;"><span style="color: #475055; font-family: "Times New Roman",serif; font-size: 14pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-IN;">New Delhi, the 1st February, 2021<o:p></o:p></span></p>
<p class="MsoNormal" style="background: white; line-height: normal; margin-bottom: 7.5pt; text-align: justify;"><b><span style="color: #475055; font-family: "Times New Roman",serif; font-size: 14pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-IN;">G.S.R. 91(E).</span></b><span style="color: #475055; font-family: "Times New Roman",serif; font-size: 14pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-IN;">— In exercise of the powers conferred by sub-sections (1) and (2) of
section 469 of </span><span style="color: #002060; font-family: "Times New Roman",serif; font-size: 14pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-IN;">the <span style="mso-bidi-font-weight: bold;">Companies Act, 2013</span> (18
of 2013), the Central Government hereby makes the following rules further to
amend the <span style="mso-bidi-font-weight: bold;">Companies
(Incorporation) Rules, 2014</span>, namely:</span><span style="color: #475055; font-family: "Times New Roman",serif; font-size: 14pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-IN;"> –<o:p></o:p></span></p>
<h2 style="background: white; line-height: normal; margin: 0cm 0cm 7.5pt 42.55pt; text-align: justify; text-indent: -42.55pt;"><span style="color: #475055; font-family: "Times New Roman",serif; font-size: 14pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-IN;">1. (1)These rules may be called the <b>Companies (Incorporation)</b> Second
Amendment Rules, 2021.</span></h2>
<p class="MsoNormal" style="background: white; line-height: normal; margin-bottom: 7.5pt; margin-left: 21.3pt; margin-right: 0cm; margin-top: 0cm; margin: 0cm 0cm 7.5pt 21.3pt; text-align: justify;"><span style="color: #475055; font-family: "Times New Roman",serif; font-size: 14pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-IN;">(2) They shall come
into force on the 1st day of April, 2021.<o:p></o:p></span></p>
<p class="MsoNormal" style="background: white; line-height: normal; margin-bottom: 7.5pt; text-align: justify;"><span style="color: #475055; font-family: "Times New Roman",serif; font-size: 14pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-IN;">2. In the Companies (Incorporation) Rules, 2014,-<o:p></o:p></span></p>
<p class="MsoNormal" style="background: white; line-height: normal; margin-bottom: 7.5pt; text-align: justify;"><span style="color: #475055; font-family: "Times New Roman",serif; font-size: 14pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-IN;"><o:p> </o:p></span></p>
<p class="MsoNormal" style="background: white; line-height: normal; margin-bottom: 7.5pt; text-align: justify;"><span style="color: #475055; font-family: "Times New Roman",serif; font-size: 14pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-IN;">I. in rule 3,<o:p></o:p></span></p>
<p class="MsoNormal" style="background: white; line-height: normal; margin-bottom: 7.5pt; text-align: justify;"><span style="color: #475055; font-family: "Times New Roman",serif; font-size: 14pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-IN;">(a) in sub-rule (1),-<o:p></o:p></span></p>
<p class="MsoNormal" style="background: white; line-height: normal; margin-bottom: 7.5pt; margin-left: 14.2pt; margin-right: 0cm; margin-top: 0cm; margin: 0cm 0cm 7.5pt 14.2pt; text-align: justify;"><span style="color: #475055; font-family: "Times New Roman",serif; font-size: 14pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-IN;">(i) for the words,
“and resident in India” the words “whether resident in India or otherwise”
shall be substituted;<o:p></o:p></span></p>
<p class="MsoNormal" style="background: white; line-height: normal; margin-bottom: 7.5pt; margin-left: 14.2pt; margin-right: 0cm; margin-top: 0cm; margin: 0cm 0cm 7.5pt 14.2pt; text-align: justify;"><span style="color: #475055; font-family: "Times New Roman",serif; font-size: 14pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-IN;">(ii) in Explanation
I, for the words “one hundred and eighty two days” the words “one hundred and
twenty days” shall be substituted;<o:p></o:p></span></p>
<p class="MsoNormal" style="background: white; line-height: normal; margin-bottom: 7.5pt; text-align: justify;"><span style="color: #475055; font-family: "Times New Roman",serif; font-size: 14pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-IN;">(b) sub-rule (7) shall be omitted.<o:p></o:p></span></p>
<p class="MsoNormal" style="background: white; line-height: normal; margin-bottom: 7.5pt; text-align: justify;"><span style="color: #475055; font-family: "Times New Roman",serif; font-size: 14pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-IN;"><o:p> </o:p></span></p>
<p class="MsoNormal" style="background: white; line-height: normal; margin-bottom: 7.5pt; text-align: justify;"><span style="color: #475055; font-family: "Times New Roman",serif; font-size: 14pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-IN;">II. for rule 6, the following rule shall be substituted, namely:-<o:p></o:p></span></p>
<p class="MsoNormal" style="background: white; line-height: normal; margin-bottom: 9pt; mso-outline-level: 2; text-align: justify;"><b><span style="color: #444444; font-family: "Times New Roman",serif; font-size: 14pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-IN;">“6. Conversion of One Person
Company into a Public company or a Private company.-<o:p></o:p></span></b></p>
<p class="MsoNormal" style="background: white; line-height: normal; margin-bottom: 7.5pt; margin-left: 21.3pt; margin-right: 0cm; margin-top: 0cm; margin: 0cm 0cm 7.5pt 21.3pt; text-align: justify; text-indent: -21.3pt;"><span style="color: #475055; font-family: "Times New Roman",serif; font-size: 14pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-IN;">(1)The One Person company shall alter its memorandum and articles by
passing a resolution in accordance with subsection (3) of section 122 of the
Act to give effect to the conversion and to make necessary changes incidental
thereto.<o:p></o:p></span></p>
<p class="MsoNormal" style="background: white; line-height: normal; margin-bottom: 7.5pt; margin-left: 21.3pt; margin-right: 0cm; margin-top: 0cm; margin: 0cm 0cm 7.5pt 21.3pt; text-align: justify; text-indent: -21.3pt;"><span style="color: #475055; font-family: "Times New Roman",serif; font-size: 14pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-IN;">(2) A One Person company may be converted into a Private or Public
Company, other than a company registered under section 8 of the Act, after
increasing the minimum number of members and directors to two or seven members
and two or three directors, as the case may be, and maintaining the minimum
paid-up capital as per the requirements of the Act for such class of company
and by making due compliance of section 18 of the Act for conversion.<o:p></o:p></span></p>
<p class="MsoNormal" style="background: white; line-height: normal; margin-bottom: 7.5pt; margin-left: 21.3pt; margin-right: 0cm; margin-top: 0cm; margin: 0cm 0cm 7.5pt 21.3pt; text-align: justify; text-indent: -21.3pt;"><span style="color: #475055; font-family: "Times New Roman",serif; font-size: 14pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-IN;">(3)The company shall file an application in e-Form No.INC-6 for its
conversion into Private or Public Company, other than under section 8 of the
Act, along with fees as provided in the Companies (Registration offices and
fees) Rules, 2014 by attaching documents, namely:-<o:p></o:p></span></p>
<p class="MsoNormal" style="background: white; line-height: normal; margin-bottom: 7.5pt; margin-left: 21.3pt; margin-right: 0cm; margin-top: 0cm; margin: 0cm 0cm 7.5pt 21.3pt; text-align: justify;"><span style="color: #475055; font-family: "Times New Roman",serif; font-size: 14pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-IN;">(a) Altered MOA and
AOA;<o:p></o:p></span></p>
<p class="MsoNormal" style="background: white; line-height: normal; margin-bottom: 7.5pt; margin-left: 21.3pt; margin-right: 0cm; margin-top: 0cm; margin: 0cm 0cm 7.5pt 21.3pt; text-align: justify;"><span style="color: #475055; font-family: "Times New Roman",serif; font-size: 14pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-IN;">(b) copy of
resolution;<o:p></o:p></span></p>
<p class="MsoNormal" style="background: white; line-height: normal; margin-bottom: 7.5pt; margin-left: 21.3pt; margin-right: 0cm; margin-top: 0cm; margin: 0cm 0cm 7.5pt 21.3pt; text-align: justify;"><span style="color: #475055; font-family: "Times New Roman",serif; font-size: 14pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-IN;">(c) the list of
proposed members and its directors along with consent;<o:p></o:p></span></p>
<p class="MsoNormal" style="background: white; line-height: normal; margin-bottom: 7.5pt; margin-left: 21.3pt; margin-right: 0cm; margin-top: 0cm; margin: 0cm 0cm 7.5pt 21.3pt; text-align: justify;"><span style="color: #475055; font-family: "Times New Roman",serif; font-size: 14pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-IN;">(d) list of
creditors; and<o:p></o:p></span></p>
<p class="MsoNormal" style="background: white; line-height: normal; margin-bottom: 7.5pt; margin-left: 21.3pt; margin-right: 0cm; margin-top: 0cm; margin: 0cm 0cm 7.5pt 21.3pt; text-align: justify;"><span style="color: #475055; font-family: "Times New Roman",serif; font-size: 14pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-IN;">(e) the latest
audited balance sheet and profit and loss account.<o:p></o:p></span></p>
<p class="MsoNormal" style="background: white; line-height: normal; margin-bottom: 7.5pt; margin-left: 21.3pt; margin-right: 0cm; margin-top: 0cm; margin: 0cm 0cm 7.5pt 21.3pt; text-align: justify; text-indent: -21.3pt;"><span style="color: #475055; font-family: "Times New Roman",serif; font-size: 14pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-IN;">(4) On being satisfied that the requirements stated herein have been
complied with, the Registrar shall approve the form and issue the Certificate.<o:p></o:p></span></p>
<p class="MsoNormal" style="background: white; line-height: normal; margin-bottom: 7.5pt; text-align: justify;"><span style="color: #475055; font-family: "Times New Roman",serif; font-size: 14pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-IN;"><o:p> </o:p></span></p>
<p class="MsoNormal" style="background: white; line-height: normal; margin-bottom: 7.5pt; text-align: justify;"><span style="color: #475055; font-family: "Times New Roman",serif; font-size: 14pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-IN;">III. in rule 7,<o:p></o:p></span></p>
<p class="MsoNormal" style="background: white; line-height: normal; margin-bottom: 7.5pt; margin-left: 21.3pt; margin-right: 0cm; margin-top: 0cm; margin: 0cm 0cm 7.5pt 21.3pt; text-align: justify; text-indent: -21.3pt;"><span style="color: #475055; font-family: "Times New Roman",serif; font-size: 14pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-IN;">(a) in sub-rule (1), the words ” having paid up share capital of fifty
lakhs rupees or less and average annual turnover during the relevant period is
two crore rupees or less” shall be omitted.<o:p></o:p></span></p>
<p class="MsoNormal" style="background: white; line-height: normal; margin-bottom: 7.5pt; margin-left: 21.3pt; margin-right: 0cm; margin-top: 0cm; margin: 0cm 0cm 7.5pt 21.3pt; text-align: justify; text-indent: -21.3pt;"><span style="color: #475055; font-family: "Times New Roman",serif; font-size: 14pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-IN;">(b) in sub-rule (4), in clause (i), the words “,the paid up share
capital company is fifty lakhs rupees or less or average annual turnover is
less than two crores rupees, as the case may be” shall be omitted.<o:p></o:p></span></p>
<p class="MsoNormal" style="background: white; line-height: normal; margin-bottom: 7.5pt; text-align: justify;"><span style="color: #475055; font-family: "Times New Roman",serif; font-size: 14pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-IN;"><o:p> </o:p></span></p>
<p class="MsoNormal" style="background: white; line-height: normal; margin-bottom: 7.5pt; text-align: justify;"><span style="color: #475055; font-family: "Times New Roman",serif; font-size: 14pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-IN;">IV. In the Annexure,<o:p></o:p></span></p>
<p class="MsoNormal" style="background: white; line-height: normal; margin-bottom: 7.5pt; margin-left: 21.3pt; margin-right: 0cm; margin-top: 0cm; margin: 0cm 0cm 7.5pt 21.3pt; text-align: justify;"><span style="color: #475055; font-family: "Times New Roman",serif; font-size: 14pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-IN;">(a) the e-Form
No.INC-5 shall be omitted.<o:p></o:p></span></p>
<p class="MsoNormal" style="background: white; line-height: normal; margin-bottom: 7.5pt; margin-left: 21.3pt; margin-right: 0cm; margin-top: 0cm; margin: 0cm 0cm 7.5pt 21.3pt; text-align: justify;"><span style="color: #475055; font-family: "Times New Roman",serif; font-size: 14pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-IN;">(b) for the e-Form
No.INC-6, the following form shall be substituted, namely:-</span></p><p class="MsoNormal" style="background: white; line-height: normal; margin-bottom: 7.5pt; margin-left: 21.3pt; margin-right: 0cm; margin-top: 0cm; margin: 0cm 0cm 7.5pt 21.3pt; text-align: justify;"><span style="color: #475055; font-family: "Times New Roman",serif; font-size: 14pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-IN;"><br /></span></p><p class="MsoNormal" style="background: white; line-height: normal; margin-bottom: 7.5pt; margin-left: 21.3pt; margin-right: 0cm; margin-top: 0cm; margin: 0cm 0cm 7.5pt 21.3pt; text-align: justify;"><span style="color: #2b00fe; font-family: "Times New Roman",serif; font-size: 14pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-IN;"><a href="https://drive.google.com/file/d/1cOT9Bhwu28vH-Gkt9VlJkLH17H3xy21W/view?usp=sharing" rel="nofollow" target="_blank"><span style="color: #2b00fe;">CLICK HERE</span></a> to download the complete notification and e-form INC-6</span></p><p class="MsoNormal" style="background: white; line-height: normal; margin-bottom: 7.5pt; margin-left: 21.3pt; margin-right: 0cm; margin-top: 0cm; margin: 0cm 0cm 7.5pt 21.3pt; text-align: justify;"><br /></p><span style="color: red; font-family: times; font-size: large;"><b>Related Post : </b></span><p class="MsoNormal" style="background: white; line-height: normal; margin-bottom: 7.5pt; margin-left: 21.3pt; margin-right: 0cm; margin-top: 0cm; margin: 0cm 0cm 7.5pt 21.3pt; text-align: justify;"><span style="color: #2b00fe; font-family: times; font-size: large;"><b><a data-ved="2ahUKEwjh3cGMvezuAhUQX30KHTjiBosQFjAjegQITRAC" href="https://www.corporatelaws.in/2021/01/companies-csr-policy-amendment-rules.html" ping="/url?sa=t&source=web&rct=j&url=https://www.corporatelaws.in/2021/01/companies-csr-policy-amendment-rules.html&ved=2ahUKEwjh3cGMvezuAhUQX30KHTjiBosQFjAjegQITRAC" style="-webkit-tap-highlight-color: rgba(0, 0, 0, 0.1); text-align: left;"></a></b></span></p><a href="https://www.corporatelaws.in/2021/01/companies-csr-policy-amendment-rules.html" target="_blank"><span style="color: #2b00fe; font-family: times; font-size: large;"><b>Companies (CSR Policy) Amendment Rules, 2021</b></span></a>CS Ashish Jainhttp://www.blogger.com/profile/00427323626525507645noreply@blogger.comtag:blogger.com,1999:blog-5686816402528651075.post-77287375382206336712021-02-08T20:56:00.003+05:302021-09-05T15:06:01.940+05:30Benefits And Features Of Instant Loans For Salaried Employees<h2 style="text-align: center;"> <a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiWUEkjwFEaPMyM86d1oDaLgcO2MDCA91-5Xsg7cl9bPhetrTnmzbeZJDYXCMqrX9i1nrHbi0XDqAc2pLRutoXHvgBHBz3wlppWMg0s6GspHhS77qDTAc1NB-CLYELLtQwwC36s7PHzl2s/s1000/Benefits-Features-Instant-Loans-Salaried-Employees.webp" style="margin-left: 1em; margin-right: 1em;"><img alt="Benefits-Features-Instant-Loans-Salaried-Employees" border="0" data-original-height="490" data-original-width="1000" height="196" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiWUEkjwFEaPMyM86d1oDaLgcO2MDCA91-5Xsg7cl9bPhetrTnmzbeZJDYXCMqrX9i1nrHbi0XDqAc2pLRutoXHvgBHBz3wlppWMg0s6GspHhS77qDTAc1NB-CLYELLtQwwC36s7PHzl2s/w400-h196/Benefits-Features-Instant-Loans-Salaried-Employees.webp" title="Benefits And Features Of Instant Loans For Salaried Employees" width="400" /></a><br /></h2><span><a name='more'></a></span><h2 style="text-align: center;"><span style="color: red; font-family: times; font-size: x-large;">Benefits And Features Of Instant Loans For Salaried Employees</span></h2><p class="MsoNormal" style="line-height: normal; text-align: justify;"><span style="font-family: "Times New Roman",serif; font-size: 14pt;">Life is never
fixed and anything could happen when you're least expecting it. From a medical
emergency to unforeseen wedding expenses to requiring additional funds for
sending your kids to a college exchange program, and more - sometimes a fixed
salary isn't enough to cover those needs for extra cash. <o:p></o:p></span></p>
<p class="MsoNormal" style="line-height: normal; text-align: justify;"><span style="font-family: "Times New Roman",serif; font-size: 14pt;">An instant loan
can be a game-changer for those who don't have access to quick funds. Most
banks and NBFCs require just proof of income and statements that show you have
a stable job before you can apply for them. There are many benefits to taking
instant loans for salaried employees and we discuss them below.<o:p></o:p></span></p>
<p class="MsoNormal" style="line-height: normal; text-align: justify;"><b><span style="font-family: "Times New Roman",serif; font-size: 14pt;"><span style="color: #2b00fe;">Benefits Of Instant Loans For Salaried Employees</span><o:p></o:p></span></b></p><p class="MsoNormal" style="line-height: normal; text-align: justify;"><b></b></p><div class="separator" style="clear: both; text-align: center;"><b><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEg-3QwYOE1aCdhxzsFdfwO2ANbgCSbrteyN1eCtvM0Z-OHLneIeA-wKZe5QVOTzTsWJvwoFy5wlYdVXExaRfML1-lt_siHwHuQ-xCIqUZh0lurSuDvU_JzaSE6BwCXqgb-h9w7MszBdQqs/s790/Benefits-Features-Instant--personal-Loans-Salaried-Employees.webp" style="margin-left: 1em; margin-right: 1em;"><img alt="Benefits-Features-Instant-personal-Loans-Salaried-Employees" border="0" data-original-height="345" data-original-width="790" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEg-3QwYOE1aCdhxzsFdfwO2ANbgCSbrteyN1eCtvM0Z-OHLneIeA-wKZe5QVOTzTsWJvwoFy5wlYdVXExaRfML1-lt_siHwHuQ-xCIqUZh0lurSuDvU_JzaSE6BwCXqgb-h9w7MszBdQqs/s16000/Benefits-Features-Instant--personal-Loans-Salaried-Employees.webp" title="Benefits And Features Of Instant personal Loans For Salaried Employees" /></a></b></div><span style="font-family: "Times New Roman", serif; font-size: 14pt;"><p class="MsoNormal" style="line-height: normal; text-align: justify;"><span style="font-size: 14pt;">Here's a list of
the benefits, features, and why to consider taking a </span><span style="color: #444444;"><span>personal
loan for salaried</span><span style="font-size: 14pt;"> employees. </span></span></p></span><p></p>
<p class="MsoNormal" style="line-height: normal; margin-left: 14.2pt; mso-list: l1 level1 lfo1; text-align: justify; text-indent: -14.2pt;"><!--[if !supportLists]--><span style="font-family: Symbol; font-size: 14pt; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;">·<span style="font-family: "Times New Roman"; font-size: 7pt; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: normal;"> </span></span><span style="font-family: "Times New Roman",serif; font-size: 14pt;"><b>Quick Disbursals</b> -
There's a reason they're called instant loans. The cash disbursal process is
quick and it can take just a few hours. Not everyone can wait for 1 to 2 weeks
during times of crisis which is where these come to the rescue.<o:p></o:p></span></p>
<p class="MsoNormal" style="line-height: normal; margin-left: 14.2pt; mso-list: l1 level1 lfo1; text-align: justify; text-indent: -14.2pt;"><!--[if !supportLists]--><span style="font-family: Symbol; font-size: 14pt; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;">·<span style="font-family: "Times New Roman"; font-size: 7pt; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: normal;"> </span></span><span style="font-family: "Times New Roman",serif; font-size: 14pt;"><b>Minimal
Documentation</b> - Not a lot of paperwork is needed to apply for instant
loans. Banks and financial institutions require borrowers to furnish just KYC
documents such as Aadhar Card, PAN Card, Proof of Address and ID proof. The
loan application can get approved on the same day if they submit these early.
Customers have to sign up on the website and fill in the application form in
order to apply for these loans. Once they upload the required documents, the
bank or organisation quickly verifies them and releases the funds.<o:p></o:p></span></p>
<p class="MsoNormal" style="line-height: normal; margin-left: 14.2pt; mso-list: l1 level1 lfo1; text-align: justify; text-indent: -14.2pt;"><!--[if !supportLists]--><span style="font-family: Symbol; font-size: 14pt; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;">·<span style="font-family: "Times New Roman"; font-size: 7pt; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: normal;"> </span></span><span style="font-family: "Times New Roman",serif; font-size: 14pt;"><b>No Reasons Needed</b> -
Most loan application forms make it mandatory to write a reason when it comes
to applying for loans. But instant loans are different and lenders understand
the varying requirements of the consumer. No reasons are needed to explain why
you're taking instant cash and the added layer of confidentiality is another
reason why many salaried employees are opting for them.<o:p></o:p></span></p>
<p class="MsoNormal" style="line-height: normal; margin-left: 14.2pt; mso-list: l1 level1 lfo1; text-align: justify; text-indent: -14.2pt;"><!--[if !supportLists]--><span style="font-family: Symbol; font-size: 14pt; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;">·<span style="font-family: "Times New Roman"; font-size: 7pt; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: normal;"> </span></span><span style="font-family: "Times New Roman",serif; font-size: 14pt;"><b>Completely Online
Process</b> - The best part about instant loans is that you don't have to
visit the bank or NBFC to apply for them. As long as you have the website
address or app, you can fill in the details and submit your application online.
SMS notifications and emails are sent as soon as your documents are verified,
prior to disbursing the loan. During medical emergencies when an individual
doesn't have time to go to the bank for loans, this can be a life-saver.<o:p></o:p></span></p>
<p class="MsoNormal" style="line-height: normal; margin-left: 14.2pt; mso-list: l1 level1 lfo1; text-align: justify; text-indent: -14.2pt;"><!--[if !supportLists]--><span style="font-family: Symbol; font-size: 14pt; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;">·<span style="font-family: "Times New Roman"; font-size: 7pt; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: normal;"> </span></span><span style="font-family: "Times New Roman",serif; font-size: 14pt;"><b>Low Interest Rates</b> -
Instant cash loans don't have high interest rates and a flexible repayment
policy. This makes them very convenient and since the interest rates are low,
paying back on time becomes easy.<o:p></o:p></span></p>
<p class="MsoNormal" style="line-height: normal; margin-left: 14.2pt; mso-list: l1 level1 lfo1; text-align: justify; text-indent: -14.2pt;"><!--[if !supportLists]--><span style="font-family: Symbol; font-size: 14pt; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;">·<span style="font-family: "Times New Roman"; font-size: 7pt; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: normal;"> </span></span><span style="font-family: "Times New Roman",serif; font-size: 14pt;"><b>Build up Credit
History</b> - For those who don't have a CIBIL Score or credit history, these
loans are a fantastic way to start building it up. When you make the repayments
on time, CIBIL will log it in their database. In the future, when you apply for
personal loans or any other types of loans, the process will be much easier and
not take up much time.<o:p></o:p></span></p>
<p class="MsoNormal" style="line-height: normal; margin-left: 14.2pt; mso-list: l1 level1 lfo1; text-align: justify; text-indent: -14.2pt;"><!--[if !supportLists]--><span style="font-family: Symbol; font-size: 14pt; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;">·<span style="font-family: "Times New Roman"; font-size: 7pt; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: normal;"> </span></span><span style="font-family: "Times New Roman",serif; font-size: 14pt;"><b>Get up to Rs 5
Lacs Instantly</b> - You can get up to Rs 5 lacs in just 1-2 days if you have
the required documents and details. Instant cash loans start as low as Rs
10,000 and don't need collateral security. Traditional banks aren't willing to
give out large amounts without added clauses of conditions. This is one of the
biggest benefits of going for these types of loans.<o:p></o:p></span></p>
<p class="MsoNormal" style="line-height: normal; text-align: justify;"><b><span style="font-family: "Times New Roman",serif; font-size: 14pt;"><span style="color: #2b00fe;">Eligibility Requirements For Instant Loans</span><o:p></o:p></span></b></p>
<p class="MsoNormal" style="line-height: normal; text-align: justify;"><span style="font-family: "Times New Roman",serif; font-size: 14pt;">One can get an
instant loan with minimal paperwork and documentation. Basic eligibility
requirements are mostly the same across various financial institutions and
NBFCs. You should be an Indian resident and be aged between 18 to 65
years old prior to filing your application.<o:p></o:p></span></p>
<p class="MsoNormal" style="line-height: normal; text-align: justify;"><span style="font-family: "Times New Roman",serif; font-size: 14pt;">The most important
eligibility criteria are your income status, salary, and proof of your
repayment capacity. Make sure your bank slips reflect that you've been having a
stable income for at least the last 6 months. You don't require any form
of collateral or security to apply for an instant cash loan online. <o:p></o:p></span></p>
<p class="MsoNormal" style="line-height: normal; text-align: justify;"><b><span style="font-family: "Times New Roman",serif; font-size: 14pt;"><span style="color: #2b00fe;">Cons of Traditional Loans</span><o:p></o:p></span></b></p>
<p class="MsoNormal" style="line-height: normal; text-align: justify;"><span style="font-family: "Times New Roman",serif; font-size: 14pt;">There are many
reasons why many consumers are moving away from traditional loans. Here are a
few of them:<o:p></o:p></span></p>
<p class="MsoNormal" style="line-height: normal; margin-left: 14.2pt; mso-list: l0 level1 lfo2; text-align: justify; text-indent: -14.2pt;"><!--[if !supportLists]--><span style="font-family: Symbol; font-size: 14pt; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;">·<span style="font-family: "Times New Roman"; font-size: 7pt; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: normal;"> </span></span><!--[endif]--><span style="font-family: "Times New Roman",serif; font-size: 14pt;"><b>Huge processing
fees</b> - Banks can charge huge processing fees and take forever to sanction
the loan amount. Most individuals who are facing an emergency can't afford to
wait that long and pay exorbitant fees for the application.<o:p></o:p></span></p>
<p class="MsoNormal" style="line-height: normal; margin-left: 14.2pt; mso-list: l0 level1 lfo2; text-align: justify; text-indent: -14.2pt;"><!--[if !supportLists]--><span style="font-family: Symbol; font-size: 14pt; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;">·<span style="font-family: "Times New Roman"; font-size: 7pt; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: normal;"> </span></span><span style="font-family: "Times New Roman",serif; font-size: 14pt;"><b>Too much time
needed</b> - It can take up to 2-3 weeks for releasing the funds. Traditional
loans fail to meet emergency expenses and sometimes loans may not be approved
due to inadequate paperwork or verification documents.<o:p></o:p></span></p>
<p class="MsoNormal" style="line-height: normal; margin-left: 14.2pt; mso-list: l0 level1 lfo2; text-align: justify; text-indent: -14.2pt;"><!--[if !supportLists]--><span style="font-family: Symbol; font-size: 14pt; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;">·<span style="font-family: "Times New Roman"; font-size: 7pt; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: normal;"> </span></span><!--[endif]--><span style="font-family: "Times New Roman",serif; font-size: 14pt;"><b>CIBIL score</b> -
If consumers don't have a CIBIL score, they can't get approved for a loan. Most
banks have a high CIBIL Score criterion which makes it difficult to meet within
a short period of time.<o:p></o:p></span></p>
<p class="MsoNormal" style="line-height: normal; margin-left: 14.2pt; mso-list: l0 level1 lfo2; text-align: justify; text-indent: -14.2pt;"><!--[if !supportLists]--><span style="font-family: Symbol; font-size: 14pt; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;">·<span style="font-family: "Times New Roman"; font-size: 7pt; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: normal;"> </span></span><span style="font-family: "Times New Roman",serif; font-size: 14pt;"><b>Fixed repayment
schedules</b> - If you don't know when you'll be able to pay back, monthly
EMIs become difficult. Times of crisis can hit you financially and affect your
ability to repay. Banks don't understand this and most traditional loans demand
that consumers make fixed monthly repayments. An instant cash loan provides
more time to pay back and gives consumers the option to avail lower EMIs. This
provides plenty of time for them to get through their situation, recover, and
pay back later.<o:p></o:p></span></p>
<p class="MsoNormal" style="line-height: normal; margin-left: 14.2pt; mso-list: l0 level1 lfo2; text-align: justify; text-indent: -14.2pt;"><!--[if !supportLists]--><span style="font-family: Symbol; font-size: 14pt; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;">·<span style="font-family: "Times New Roman"; font-size: 7pt; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: normal;"> </span></span><span style="font-family: "Times New Roman",serif; font-size: 14pt;"><b>High Interest
Rates</b> - When the tenure for repayment gets stretched out, banks end up
charging higher interest rates for these loans.<o:p></o:p></span></p>
<p class="MsoNormal" style="line-height: normal; margin-left: 14.2pt; mso-list: l0 level1 lfo2; text-align: justify; text-indent: -14.2pt;"><!--[if !supportLists]--><span style="font-family: Symbol; font-size: 14pt; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;">·<span style="font-family: "Times New Roman"; font-size: 7pt; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: normal;"> </span></span><span style="font-family: "Times New Roman",serif; font-size: 14pt;"><b>Market
Fluctuations</b> - The interest rates can change depending on the market's
situation. If you don't know what your financial status will be like in a few
months, it could impact your ability to make a repayment on time.<o:p></o:p></span></p>
<p class="MsoNormal" style="line-height: normal; margin-left: 14.2pt; mso-list: l0 level1 lfo2; text-align: justify; text-indent: -14.2pt;"><!--[if !supportLists]--><span style="font-family: Symbol; font-size: 14pt; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;">·<span style="font-family: "Times New Roman"; font-size: 7pt; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: normal;"> </span></span><span style="font-family: "Times New Roman",serif; font-size: 14pt;"><b>Requires
collateral</b> - Banks aren't willing to disburse unsecured personal loans in
most cases. A collateral or co-borrower applicant may be needed to file a loan
application. This is inconvenient for many users and not a feasible option.<o:p></o:p></span></p>
<p class="MsoNormal" style="line-height: normal; text-align: justify;"><b><span style="font-family: "Times New Roman",serif; font-size: 14pt;"><span style="color: #2b00fe;">Conclusion</span><o:p></o:p></span></b></p>
<p class="MsoNormal" style="line-height: normal; text-align: justify;"><span style="font-family: "Times New Roman",serif; font-size: 14pt;">If it's your first
time applying for an instant loan and you're not sure how to go about it, you
can always talk to the company or lender. Discuss your requirements and explain
the details a bit before applying for these loans. Once you make your
requirements clear, they can guide you through the application process
step-by-step. And if you don't get enough time to talk on phone, you can write
an email online and get a quick response.<o:p></o:p></span></p>CS Ashish Jainhttp://www.blogger.com/profile/00427323626525507645noreply@blogger.comtag:blogger.com,1999:blog-5686816402528651075.post-18006591423351905562021-01-23T00:10:00.005+05:302021-01-30T00:00:12.011+05:30Companies (CSR Policy) Amendment Rules, 2021 PDF Download<p style="text-align: center;"> <a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgROyIUxHgLFsNoOqdYNiuNQ-gBzHG98Krs_J4WjbJl1bdJ5VYJ73KCRkCZW4BFjS9cfNWNs2Qg8cn_VuO6zd6Z55-GL-QbjM5Y6__zFnAeP5SANz569YeLvCAVCIIobb63ifPF32egnkI/s284/Companies-CSR-Policy-Amendment-Rules-2021.webp" style="margin-left: 1em; margin-right: 1em;"><img alt="Companies-CSR-Policy-Amendment-Rules-2021" border="0" data-original-height="177" data-original-width="284" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgROyIUxHgLFsNoOqdYNiuNQ-gBzHG98Krs_J4WjbJl1bdJ5VYJ73KCRkCZW4BFjS9cfNWNs2Qg8cn_VuO6zd6Z55-GL-QbjM5Y6__zFnAeP5SANz569YeLvCAVCIIobb63ifPF32egnkI/s16000/Companies-CSR-Policy-Amendment-Rules-2021.webp" title="Companies (CSR Policy) Amendment Rules, 2021" /></a><br /></p><span><a name='more'></a></span><h2 style="text-align: center;"><span style="color: red;"><b><span style="font-family: "Times New Roman",serif; font-size: 18pt;">Companies
(Corporate Social Responsibility Policy) <br /></span></b><b><span style="font-family: "Times New Roman",serif; font-size: 18pt;">Amendment
Rules, 2021</span></b></span></h2>
<p align="center" class="MsoNormal" style="line-height: normal; margin-bottom: 0cm; mso-layout-grid-align: none; text-align: center; text-autospace: none;"><b><span style="font-family: "Times New Roman",serif; font-size: 14pt;"><o:p> </o:p></span></b><b><span style="font-family: "Times New Roman",serif; font-size: 14pt;">MINISTRY
OF CORPORATE AFFAIRS</span></b></p>
<p align="center" class="MsoNormal" style="line-height: normal; margin-bottom: 0cm; mso-layout-grid-align: none; text-align: center; text-autospace: none;"><b><span style="font-family: "Times New Roman",serif; font-size: 14pt;">NOTIFICATION<o:p></o:p></span></b></p>
<p align="center" class="MsoNormal" style="line-height: normal; margin-bottom: 0cm; mso-layout-grid-align: none; text-align: center; text-autospace: none;"><span style="font-family: "Times New Roman",serif; font-size: 14pt;">New
Delhi, the 22nd January, 2021</span></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: 0cm; mso-layout-grid-align: none; text-align: justify; text-autospace: none;"><b><span style="font-family: "Times New Roman",serif; font-size: 14pt;">G.S.R. 40(E).—</span></b><span style="font-family: "Times New Roman",serif; font-size: 14pt;">In exercise of the
powers conferred by section 135 and sub-sections (1) and (2) of section 469 of
the Companies Act, 2013 (18 of 2013), the Central Government hereby makes the
following rules further to amend the Companies (Corporate Social Responsibility
Policy) Rules, 2014, namely:-</span></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: 0cm; mso-layout-grid-align: none; text-align: justify; text-autospace: none;"><span style="font-family: "Times New Roman",serif; font-size: 14pt;">1. <b>Short title
and commencement. </b>–</span></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: 0cm; mso-layout-grid-align: none; text-align: justify; text-autospace: none;"><span style="font-family: "Times New Roman",serif; font-size: 14pt;">(1) These rules
may be called the <b>Companies (Corporate Social Responsibility Policy) </b>Amendment
Rules, 2021.</span></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: 0cm; mso-layout-grid-align: none; text-align: justify; text-autospace: none;"><span style="font-family: "Times New Roman",serif; font-size: 14pt;">(2) They shall
come into force on the date of their publication in the Official Gazette unless
explicitly provided elsewhere in this notification.</span></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: 0cm; mso-layout-grid-align: none; text-align: justify; text-autospace: none;"><span style="font-family: "Times New Roman",serif; font-size: 14pt;">2. In the <b>Companies
(Corporate Social Responsibility Policy) Rules, 2014 (hereinafter referred to
as the said rules), for rule 2, the following rule shall be substituted,
namely:-</b></span></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: 0cm; mso-layout-grid-align: none; text-align: justify; text-autospace: none;"><b><span style="font-family: "Times New Roman",serif; font-size: 14pt;">“2. Definitions</span></b><span style="font-family: "Times New Roman",serif; font-size: 14pt;">. - (1) In these
rules, unless the context otherwise requires,-</span></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: 0cm; mso-layout-grid-align: none; text-align: justify; text-autospace: none;"><span style="font-family: "Times New Roman",serif; font-size: 14pt;">(a)
"Act" means the Companies Act, 2013 (18 of 2013);</span></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: 0cm; mso-layout-grid-align: none; text-align: justify; text-autospace: none;"><span style="font-family: "Times New Roman",serif; font-size: 14pt;">(b)
“Administrative overheads” means the expenses incurred by the company for
‘general management and administration’ of Corporate Social Responsibility
functions in the company but shall not include the expenses directly incurred
for the designing, implementation, monitoring, and evaluation of a particular
Corporate Social Responsibility project or programme;</span></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: 0cm; mso-layout-grid-align: none; text-align: justify; text-autospace: none;"><span style="font-family: "Times New Roman",serif; font-size: 14pt;">(c)
"Annexure" means the Annexure appended to these rules;</span></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: 0cm; mso-layout-grid-align: none; text-align: justify; text-autospace: none;"><span style="font-family: "Times New Roman",serif; font-size: 14pt;">(d) “Corporate
Social Responsibility (CSR)” means the activities undertaken by a Company in
pursuance of its statutory obligation laid down in section 135 of the Act in
accordance with the provisions contained in these rules, but shall not include
the following, namely:-</span></p><p class="MsoNormal" style="line-height: normal; margin-bottom: 0cm; mso-layout-grid-align: none; text-align: justify; text-autospace: none;"><span style="font-family: "Times New Roman",serif; font-size: 14pt;"><br /></span></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: 0cm; margin-left: 21.3pt; margin-right: 0cm; margin-top: 0cm; margin: 0cm 0cm 0cm 21.3pt; mso-layout-grid-align: none; text-align: justify; text-autospace: none;"><span style="font-family: "Times New Roman",serif; font-size: 14pt;">(i) activities undertaken in pursuance of
normal course of business of the company:</span></p><p class="MsoNormal" style="line-height: normal; margin-bottom: 0cm; margin-left: 21.3pt; margin-right: 0cm; margin-top: 0cm; margin: 0cm 0cm 0cm 21.3pt; mso-layout-grid-align: none; text-align: justify; text-autospace: none;"><span style="font-family: "Times New Roman",serif; font-size: 14pt;"><br /></span></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: 0cm; margin-left: 21.3pt; margin-right: 0cm; margin-top: 0cm; margin: 0cm 0cm 0cm 21.3pt; mso-layout-grid-align: none; text-align: justify; text-autospace: none;"><span style="font-family: "Times New Roman",serif; font-size: 14pt;">Provided that any company engaged in
research and development activity of new vaccine, drugs and medical devices in
their normal course of business may undertake research and development activity
of new vaccine, drugs and medical devices related to COVID-19 for financial
years 2020-21, 2021-22, 2022-23 subject to the conditions that<span style="mso-spacerun: yes;"> </span></span></p><p class="MsoNormal" style="line-height: normal; margin-bottom: 0cm; margin-left: 21.3pt; margin-right: 0cm; margin-top: 0cm; margin: 0cm 0cm 0cm 21.3pt; mso-layout-grid-align: none; text-align: justify; text-autospace: none;"><span style="font-family: "Times New Roman",serif; font-size: 14pt;"><span style="mso-spacerun: yes;"><br /></span></span></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: 0cm; margin-left: 21.3pt; margin-right: 0cm; margin-top: 0cm; margin: 0cm 0cm 0cm 21.3pt; mso-layout-grid-align: none; text-align: justify; text-autospace: none;"><span style="font-family: "Times New Roman",serif; font-size: 14pt;">(a) such research and development
activities shall be carried out in collaboration with any of the institutes or
organisations mentioned in item (ix) of Schedule VII to the Act;<o:p></o:p></span></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: 0cm; margin-left: 21.3pt; margin-right: 0cm; margin-top: 0cm; margin: 0cm 0cm 0cm 21.3pt; mso-layout-grid-align: none; text-align: justify; text-autospace: none;"><span style="font-family: "Times New Roman",serif; font-size: 14pt;"><o:p> </o:p></span></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: 0cm; margin-left: 21.3pt; margin-right: 0cm; margin-top: 0cm; margin: 0cm 0cm 0cm 21.3pt; mso-layout-grid-align: none; text-align: justify; text-autospace: none;"><span style="font-family: "Times New Roman",serif; font-size: 14pt;">(b) details of such activity shall be
disclosed separately in the Annual report on CSR included in the Board’s
Report;</span></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: 0cm; mso-layout-grid-align: none; text-align: justify; text-autospace: none;"><span style="font-family: "Times New Roman",serif; font-size: 14pt;">(ii) any activity
undertaken by the company outside India except for training of Indian sports personnel
representing any State or Union territory at national level or India at
international level;</span></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: 0cm; mso-layout-grid-align: none; text-align: justify; text-autospace: none;"><span style="font-family: "Times New Roman",serif; font-size: 14pt;">(iii) contribution
of any amount directly or indirectly to any political party under section 182
of the Act;</span></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: 0cm; mso-layout-grid-align: none; text-align: justify; text-autospace: none;"><span style="font-family: "Times New Roman",serif; font-size: 14pt;">(iv) activities
benefitting employees of the company as defined in clause (k) of section 2 of
the Code on Wages, 2019 (29 of 2019);</span></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: 0cm; mso-layout-grid-align: none; text-align: justify; text-autospace: none;"><span style="font-family: "Times New Roman",serif; font-size: 14pt;">(v) activities
supported by the companies on sponsorship basis for deriving marketing benefits
for its products or services;</span></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: 0cm; mso-layout-grid-align: none; text-align: justify; text-autospace: none;"><span style="font-family: "Times New Roman",serif; font-size: 14pt;">(vi) activities
carried out for fulfilment of any other statutory obligations under any law in
force in India;</span></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: 0cm; mso-layout-grid-align: none; text-align: justify; text-autospace: none;"><span style="font-family: "Times New Roman",serif; font-size: 14pt;">(e) "CSR
Committee" means the Corporate Social Responsibility Committee of the
Board referred to in section 135 of the Act;</span></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: 0cm; mso-layout-grid-align: none; text-align: justify; text-autospace: none;"><span style="font-family: "Times New Roman",serif; font-size: 14pt;">(f) "CSR
Policy" means a statement containing the approach and direction given by
the board of a company, taking into account the recommendations of its CSR
Committee, and includes guiding principles for selection, implementation and
monitoring of activities as well as formulation of the annual action plan;</span></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: 0cm; mso-layout-grid-align: none; text-align: justify; text-autospace: none;"><span style="font-family: "Times New Roman",serif; font-size: 14pt;">(g) “International
Organisation” means an organisation notified by the Central Government as an international
organisation under section 3 of the United Nations (Privileges and Immunities)
Act, 1947 (46 of 1947), to which the provisions of the Schedule to the said Act
apply;</span></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: 0cm; mso-layout-grid-align: none; text-align: justify; text-autospace: none;"><span style="font-family: "Times New Roman",serif; font-size: 14pt;">(h) "Net
profit" means the net profit of a company as per its financial statement
prepared in accordance with the applicable provisions of the Act, but shall not
include the following, namely: -</span></p><p class="MsoNormal" style="line-height: normal; margin-bottom: 0cm; mso-layout-grid-align: none; text-align: justify; text-autospace: none;"><span style="font-family: "Times New Roman",serif; font-size: 14pt;"><br /></span></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: 0cm; margin-left: 21.3pt; margin-right: 0cm; margin-top: 0cm; margin: 0cm 0cm 0cm 21.3pt; mso-layout-grid-align: none; text-align: justify; text-autospace: none;"><span style="font-family: "Times New Roman",serif; font-size: 14pt;">(i) any profit arising from any overseas
branch or branches of the company, whether operated as a separate company or
otherwise; and<o:p></o:p></span></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: 0cm; margin-left: 21.3pt; margin-right: 0cm; margin-top: 0cm; margin: 0cm 0cm 0cm 21.3pt; mso-layout-grid-align: none; text-align: justify; text-autospace: none;"><span style="font-family: "Times New Roman",serif; font-size: 14pt;"><o:p> </o:p></span></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: 0cm; margin-left: 21.3pt; margin-right: 0cm; margin-top: 0cm; margin: 0cm 0cm 0cm 21.3pt; mso-layout-grid-align: none; text-align: justify; text-autospace: none;"><span style="font-family: "Times New Roman",serif; font-size: 14pt;">(ii) any dividend received from other
companies in India, which are covered under and complying with the provisions
of section 135 of the Act:<o:p></o:p></span></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: 0cm; margin-left: 21.3pt; margin-right: 0cm; margin-top: 0cm; margin: 0cm 0cm 0cm 21.3pt; mso-layout-grid-align: none; text-align: justify; text-autospace: none;"><span style="font-family: "Times New Roman",serif; font-size: 14pt;">Provided that in case of a foreign company
covered under these rules, net profit means the net profit of such company as
per profit and loss account prepared in terms of clause (a) of sub-section (1)
of section 381, read with section 198 of the Act;</span></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: 0cm; mso-layout-grid-align: none; text-align: justify; text-autospace: none;"><span style="font-family: "Times New Roman",serif; font-size: 14pt;">(i) “Ongoing
Project” means a multi-year project undertaken by a Company in fulfilment of
its CSR obligation having timelines not exceeding three years excluding the
financial year in which it was commenced, and shall include such project that
was initially not approved as a multi-year project but whose duration has been
extended beyond one year by the board based on reasonable </span><span style="font-family: "Times New Roman", serif; font-size: 14pt;">justification;</span></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: 0cm; mso-layout-grid-align: none; text-align: justify; text-autospace: none;"><span style="font-family: "Times New Roman",serif; font-size: 14pt;">(j) “Public
Authority” means ‘Public Authority’ as defined in clause (h) of section 2 of
the Right to Information Act, 2005 (22 of 2005);</span></p>
<p class="MsoNormal" style="text-align: justify;"><span style="font-family: "Times New Roman",serif; font-size: 14pt; line-height: 115%;">(k) “section” means a
section of the Act.<o:p></o:p></span></p><p class="MsoNormal" style="text-align: center;"><span style="font-family: "Times New Roman",serif; font-size: 14pt; line-height: 115%;"><a href="https://drive.google.com/file/d/12CgS5lgj5cgsTdAYYNHxp7D4_6pSoeK9/view?usp=sharing" rel="nofollow" target="_blank"><span style="color: #2b00fe;">Click Here</span></a> <span style="color: #2b00fe;">to download the complete notification</span></span></p><p class="MsoNormal" style="line-height: normal; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; text-align: justify;"><b><span style="font-family: "Times New Roman", serif; font-size: 14pt;">From which date the Companies (CSR
Policy) Amendment Rules, 2021 are effective? </span></b><span style="font-family: "Times New Roman", serif; font-size: 13.5pt;"><o:p></o:p></span></p><p class="MsoNormal"><b><span style="font-family: "Times New Roman", serif; font-size: 14pt; text-align: justify;"></span></b></p><div class="WordSection1">
<p class="MsoNormal" style="line-height: normal; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; text-align: justify;"><span style="font-family: "Times New Roman", serif; font-size: 14pt;">The Companies (CSR
Policy) Amendment Rules, 2021 are effective from 22nd January 2021.</span><span style="font-family: "Times New Roman", serif; font-size: 13.5pt;"><o:p></o:p></span></p><p class="MsoNormal" style="line-height: normal; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; text-align: justify;"></p><p class="MsoNormal" style="line-height: normal; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; text-align: justify;"><b><span style="color: black; font-family: "Times New Roman",serif; font-size: 14pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-IN;">What are the key changes in provisions
related to Corporate Social Responsibility after the applicability
of Companies (Corporate Social Responsibility Policy) Amendment
Rules, 2021 ? <o:p></o:p></span></b></p>
<p class="MsoNormal" style="line-height: normal; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; text-align: justify;"><span style="color: black; font-family: "Times New Roman",serif; font-size: 14pt; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-IN;">The key
changes in the provisions related to CSR after the applicability of Companies (Corporate Social
Responsibility Policy) Amendment Rules, 2021 are summarized
below ;<o:p></o:p></span></p>
<p class="MsoNormal" style="line-height: normal; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; text-align: justify;"><span style="color: black; font-family: "Times New Roman",serif; font-size: 14pt; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-IN;">Courtesy:
Complied by CS Amit Gupta <span style="mso-spacerun: yes;"> </span><span style="mso-spacerun: yes;"> </span><o:p></o:p></span></p><p class="MsoNormal" style="line-height: normal; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; text-align: justify;"><span style="color: black; font-family: "Times New Roman",serif; font-size: 14pt; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-IN;"><span style="mso-spacerun: yes;"></span></span></p><table border="1" cellpadding="0" cellspacing="0" class="MsoNormalTable" style="border-collapse: collapse; border: none; margin-left: 12.5pt; mso-border-alt: solid windowtext .5pt; mso-border-insideh: .5pt solid windowtext; mso-border-insidev: .5pt solid windowtext; mso-padding-alt: 0cm 5.4pt 0cm 5.4pt; mso-yfti-tbllook: 1184; width: 586px;">
<tbody><tr>
<td style="border: solid windowtext 1.0pt; mso-border-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 42.55pt;" valign="top" width="57">
<p align="center" class="MsoNormal" style="line-height: normal; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; text-align: center;"><b><span style="font-family: "Times New Roman",serif; font-size: 14.0pt;">Sr.
No.<o:p></o:p></span></b></p>
</td>
<td style="border-left: none; border: solid windowtext 1.0pt; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 154.05pt;" valign="top" width="205">
<p class="MsoNormal" style="line-height: normal; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; text-align: justify;"><b><span style="font-family: "Times New Roman",serif; font-size: 14.0pt;">Subject <o:p></o:p></span></b></p>
</td>
<td style="border-left: none; border: solid windowtext 1.0pt; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 242.85pt;" valign="top" width="324">
<p class="MsoNormal" style="line-height: normal; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; text-align: justify;"><b><span style="font-family: "Times New Roman",serif; font-size: 14.0pt;">Key Changes <o:p></o:p></span></b></p>
</td>
</tr>
<tr>
<td style="border-top: none; border: solid windowtext 1.0pt; mso-border-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 42.55pt;" valign="top" width="57">
<p align="center" class="MsoNormal" style="line-height: normal; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; text-align: center;"><b><span style="font-family: "Times New Roman",serif; font-size: 14.0pt;">1.<o:p></o:p></span></b></p>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 154.05pt;" valign="top" width="205">
<p class="MsoNormal" style="line-height: normal; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; text-align: justify;"><span style="font-family: times; font-size: medium;">CSR Spending<o:p></o:p></span></p>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 242.85pt;" valign="top" width="324">
<p class="MsoNormal" style="line-height: normal; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; text-align: justify;"><span style="font-family: times; font-size: medium;">CSR spending made Mandatory from
Voluntary<o:p></o:p></span></p>
</td>
</tr>
<tr>
<td style="border-top: none; border: solid windowtext 1.0pt; mso-border-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 42.55pt;" valign="top" width="57">
<p align="center" class="MsoNormal" style="line-height: normal; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; text-align: center;"><b><span style="font-family: times; font-size: medium;">2.<o:p></o:p></span></b></p>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 154.05pt;" valign="top" width="205">
<p class="MsoNormal" style="line-height: normal; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; text-align: justify;"><span style="font-family: times; font-size: medium;">Treatment of unspent amount<o:p></o:p></span></p>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 242.85pt;" valign="top" width="324">
<p class="TableParagraph" style="margin-bottom: 6.0pt; margin-left: 17.6pt; margin-right: 5.1pt; margin-top: .1pt; mso-list: l0 level1 lfo1; tab-stops: 17.6pt; text-align: justify; text-indent: -14.2pt;"><!--[if !supportLists]--><span style="font-family: times; font-size: medium;"><span lang="EN-US" style="letter-spacing: -1.45pt;">•<span style="font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: normal;"> </span></span>Unspent amount not relating to ongoing
Project: Where amount doesn’t relate to any ongoing project, then in case of
failure to spend the same, will require carrying forwarding of the same to a
Fund specified in Schedule VII, within 6 months of close of financial year,
in addition to disclosure of reasons for not spending in Board Report. So
amount remaining unspent (other than ongoing project) for
the financial year
2020‐21 shall be transferred to Schedule VII fund latest
by September 30, 2021.<o:p></o:p></span></p>
<p class="TableParagraph" style="margin-bottom: 6.0pt; margin-left: 17.6pt; margin-right: 5.35pt; margin-top: 0cm; mso-list: l0 level1 lfo1; tab-stops: 17.6pt; text-align: justify; text-indent: -14.2pt;"><!--[if !supportLists]--><span style="font-family: times; font-size: medium;"><span lang="EN-US" style="letter-spacing: -1.45pt;">•<span style="font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: normal;"> </span></span><!--[endif]-->Unspent amount relating to Ongoing Project
-‐ To be transferred within a period of thirty days from the end of the
financial year to a special account to be opened by the company in that
behalf for that financial year in any scheduled bank to be called the Unspent
Corporate Social Responsibility Account (UCSRA). So amount remaining unspent
(ongoing project) for
the financial year
2020-‐21 shall be transferred to UCSRA latest by April 30, 2021.<o:p></o:p></span></p>
<p class="TableParagraph" style="margin-bottom: 6.0pt; margin-left: 17.6pt; margin-right: 5.35pt; margin-top: 0cm; mso-list: l0 level1 lfo1; tab-stops: 17.6pt; text-align: justify; text-indent: -14.2pt;"><!--[if !supportLists]--><span style="font-family: times; font-size: medium;"><span lang="EN-US" style="letter-spacing: -1.45pt;">•<span style="font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: normal;"> </span></span>Extended time for spending unspent amount
relating to ongoing Project Such amount shall be spent within a period of 3
financial years from the date of such transfer, failing which, the company
shall transfer the same to a Fund specified in Schedule VII, within a period
of thirty days from the date of completion of the third financial year. So
amount remaining unspent transferred for FY 2020‐21 to
UCSRA, has to
be utilized for
the project upto FY
2023-‐24, otherwise shall
be transferred to a fund specified in Schedule VII.<o:p></o:p></span></p>
</td>
</tr>
<tr>
<td style="border-top: none; border: solid windowtext 1.0pt; mso-border-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 42.55pt;" valign="top" width="57">
<p align="center" class="MsoNormal" style="line-height: normal; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; text-align: center;"><b><span style="font-family: times; font-size: medium;">3.<o:p></o:p></span></b></p>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 154.05pt;" valign="top" width="205">
<p class="MsoNormal" style="line-height: normal; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; text-align: justify;"><span style="font-family: times; font-size: medium;">Consequence of non transfer in aforesaid
manner<o:p></o:p></span></p>
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<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 242.85pt;" valign="top" width="324">
<p class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: justify;"><span style="font-family: times; font-size: medium;">Offence
decriminalised vide CAA, 2020<o:p></o:p></span></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: justify;"><span style="font-family: times; font-size: medium;">Company
liable to pay penalty twice the default or Rs. 1 cr, which ever is less Every
officer liable to pay penalty @ 10% of default or Rs. 2 lacs, which ever is
less<o:p></o:p></span></p>
</td>
</tr>
<tr>
<td style="border-top: none; border: solid windowtext 1.0pt; mso-border-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 42.55pt;" valign="top" width="57">
<p align="center" class="MsoNormal" style="line-height: normal; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; text-align: center;"><b><span style="font-family: times; font-size: medium;">4.<o:p></o:p></span></b></p>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 154.05pt;" valign="top" width="205">
<p class="TableParagraph" style="line-height: 14.6pt; margin-left: 0cm; mso-line-height-rule: exactly;"><span style="font-family: times; font-size: medium;">Setoff of excess
amount spend towards CSR in succeeding years<span lang="EN-US"><o:p></o:p></span></span></p>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 242.85pt;" valign="top" width="324">
<p class="MsoNormal" style="line-height: normal; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; text-align: justify;"><span style="font-family: times; font-size: medium;">Excess
amount may be
set off against the requirement to spend under
section 135(5) up to immediate succeeding three financial years subject to
the conditions that –<o:p></o:p></span></p>
<p class="MsoNormal" style="line-height: normal; margin-left: 17.6pt; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; text-align: justify; text-indent: -17.6pt;"><span style="font-family: times; font-size: medium;">• the excess amount available for set off
shall not include the surplus arising out of the CSR activities,
if any, in
pursuance of sub-rule (2) of this rule.<o:p></o:p></span></p>
<p class="MsoNormal" style="line-height: normal; margin-left: 17.6pt; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; text-align: justify; text-indent: -17.6pt;"><span style="font-family: times; font-size: medium;">• the Board of the company shall pass a
resolution to that effect.<o:p></o:p></span></p>
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<tr>
<td style="border-top: none; border: solid windowtext 1.0pt; mso-border-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 42.55pt;" valign="top" width="57">
<p align="center" class="MsoNormal" style="line-height: normal; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; text-align: center;"><b><span style="font-family: times; font-size: medium;">5.<o:p></o:p></span></b></p>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 154.05pt;" valign="top" width="205">
<p class="TableParagraph" style="line-height: 14.6pt; margin-left: 0cm; mso-line-height-rule: exactly;"><span style="font-family: times; font-size: medium;"><b><span lang="EN-US">Administrative Overheads</span></b><o:p></o:p></span></p>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 242.85pt;" valign="top" width="324">
<p class="MsoNormal" style="line-height: normal; margin-left: 17.6pt; mso-list: l10 level1 lfo2; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; text-align: justify; text-indent: -17.6pt;"><!--[if !supportLists]--><span style="font-family: times; font-size: medium;">·<span style="font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: normal;"> </span>Definition added.<o:p></o:p></span></p>
<p class="MsoNormal" style="line-height: normal; margin-left: 17.6pt; mso-list: l10 level1 lfo2; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; text-align: justify; text-indent: -17.6pt;"><!--[if !supportLists]--><span style="font-family: times; font-size: medium;">·<span style="font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: normal;"> </span>Only the expenses incurred by the company for ‘general
management and administration’ of Corporate Social Responsibility functions
classified as Administrative overheads.<o:p></o:p></span></p>
<p class="MsoNormal" style="line-height: normal; margin-left: 17.6pt; mso-list: l10 level1 lfo2; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; text-align: justify; text-indent: -17.6pt;"><!--[if !supportLists]--><span style="font-family: times; font-size: medium;">·<span style="font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: normal;"> </span>The expenses directly incurred for the designing, implementation, monitoring and evaluation of a particular Corporate Social
Responsibility project or programme specifically excluded.<o:p></o:p></span></p>
<p class="MsoNormal" style="line-height: normal; margin-left: 17.6pt; mso-list: l10 level1 lfo2; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; text-align: justify; text-indent: -17.6pt;"><!--[if !supportLists]--><span style="font-family: times; font-size: medium;">·<span style="font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: normal;"> </span>The administrative overheads not to exceed five percent
of total CSR expenditure of the company for the financial year.<o:p></o:p></span></p>
</td>
</tr>
<tr>
<td style="border-top: none; border: solid windowtext 1.0pt; mso-border-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 42.55pt;" valign="top" width="57">
<p align="center" class="MsoNormal" style="line-height: normal; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; text-align: center;"><b><span style="font-family: times; font-size: medium;">6.<o:p></o:p></span></b></p>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 154.05pt;" valign="top" width="205">
<p class="TableParagraph" style="line-height: 14.6pt; margin-left: 0cm; mso-line-height-rule: exactly;"><span style="font-family: times; font-size: medium;"><b><span lang="EN-US">CSR definition</span></b><o:p></o:p></span></p>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 242.85pt;" valign="top" width="324">
<p class="TableParagraph" style="line-height: 14.4pt; margin-bottom: 6.0pt; margin-left: 0cm; margin-right: 0cm; margin-top: 0cm; mso-line-height-rule: exactly; tab-stops: 118.75pt; text-align: justify;"><span style="font-family: times; font-size: medium;">Inclusive definition
now made exclusive and activities not considered as CSR specified clearly.
Accordingly the following activities shall not be considered CSR:<o:p></o:p></span></p>
<p class="TableParagraph" style="margin-bottom: 6.0pt; margin-left: 32.35pt; margin-right: 5.35pt; margin-top: 3.7pt; mso-list: l10 level1 lfo2; text-align: justify; text-indent: -18.0pt;"><!--[if !supportLists]--><span style="font-family: times; font-size: medium;">·<span style="font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: normal;"> </span>Activities undertaken in pursuance of normal course of business of the
company (except COVID 19 related R & D up to the financial year 2022-‐23,
subject to certain
conditions);<o:p></o:p></span></p>
<p class="TableParagraph" style="margin-bottom: 6.0pt; margin-left: 36.0pt; margin-right: 5.35pt; margin-top: 0cm; mso-list: l10 level1 lfo2; text-align: justify; text-indent: -18.0pt;"><!--[if !supportLists]--><span style="font-family: times; font-size: medium;">·<span style="font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: normal;"> </span>Any activity undertaken by the company outside India (except for
training of Indian sports personnel representing any State or Union territory
at national level or India at international level);<o:p></o:p></span></p>
<p class="TableParagraph" style="margin-bottom: 6.0pt; margin-left: 36.0pt; margin-right: 5.35pt; margin-top: .15pt; mso-list: l10 level1 lfo2; tab-stops: 32.6pt; text-align: justify; text-indent: -18.0pt;"><!--[if !supportLists]--><span style="font-family: times; font-size: medium;">· Contribution
of any amount directly or indirectly to any political party under section 182
of the Act.<o:p></o:p></span></p>
<p class="TableParagraph" style="margin-bottom: 6.0pt; margin-left: 36.0pt; margin-right: 5.35pt; margin-top: 0cm; mso-list: l10 level1 lfo2; tab-stops: 31.8pt; text-align: justify; text-indent: -18.0pt;"><!--[if !supportLists]--><span style="font-family: times; font-size: medium;">·<span style="font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: normal;"> </span>activities
that significantly benefit the employees of the company as defined in clause
(k) of section 2 of the Code on Wages, 2019 (29 of 2019);<o:p></o:p></span></p>
<p class="TableParagraph" style="line-height: 14.6pt; margin-bottom: 6.0pt; margin-left: 36.0pt; margin-right: 0cm; margin-top: .05pt; mso-line-height-rule: exactly; mso-list: l10 level1 lfo2; tab-stops: 38.9pt; text-align: justify; text-indent: -18.0pt;"><!--[if !supportLists]--><span style="font-family: times; font-size: medium;">· activities supported by the companies on sponsorship basis for
deriving marketing benefits for its products or services;<o:p></o:p></span></p>
<p class="TableParagraph" style="line-height: 14.4pt; margin-bottom: 6.0pt; margin-left: 36.0pt; margin-right: 0cm; margin-top: 0cm; mso-line-height-rule: exactly; mso-list: l10 level1 lfo2; tab-stops: 31.8pt; text-align: justify; text-indent: -18.0pt;"><!--[if !supportLists]--><span style="font-family: times; font-size: medium;">·<span style="font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: normal;"> </span>activities
carried out for fulfillment of any other statutory obligations under any law in force in India;<o:p></o:p></span></p>
</td>
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<td style="border-top: none; border: solid windowtext 1.0pt; mso-border-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 42.55pt;" valign="top" width="57">
<p align="center" class="MsoNormal" style="line-height: normal; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; text-align: center;"><b><span style="font-family: times; font-size: medium;">7.<o:p></o:p></span></b></p>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 154.05pt;" valign="top" width="205">
<p class="TableParagraph" style="line-height: 14.6pt; margin-left: 0cm; mso-line-height-rule: exactly;"><span style="font-family: times; font-size: medium;"><b><span lang="EN-US">CSR Policy</span></b><o:p></o:p></span></p>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 242.85pt;" valign="top" width="324">
<p class="TableParagraph" style="margin-top: .1pt;"><span style="font-family: times; font-size: medium;">CSR Policy to include:<o:p></o:p></span></p>
<p class="TableParagraph" style="margin-bottom: .0001pt; margin-bottom: 0cm; margin-left: 34.65pt; margin-right: 5.4pt; margin-top: 7.65pt; mso-list: l11 level1 lfo3; tab-stops: 34.7pt; text-align: justify; text-indent: -18.0pt;"><!--[if !supportLists]--><span style="font-family: times; font-size: medium;"><span lang="EN-US" style="letter-spacing: -1.25pt;">•<span style="font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: normal;"> </span></span><!--[endif]-->approach and direction given by the board of
a company, taking into account the recommendations of its CSR Committee;<o:p></o:p></span></p>
<p class="TableParagraph" style="margin-bottom: .0001pt; margin-bottom: 0cm; margin-left: 34.65pt; margin-right: 5.4pt; margin-top: 7.4pt; mso-list: l11 level1 lfo3; tab-stops: 34.7pt; text-align: justify; text-indent: -18.0pt;"><!--[if !supportLists]--><span style="font-family: times; font-size: medium;"><span lang="EN-US" style="letter-spacing: -1.25pt;">•<span style="font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: normal;"> </span></span>guiding principles for selection,
implementation and monitoring of activities;<o:p></o:p></span></p>
<p class="TableParagraph" style="margin-bottom: .0001pt; margin-bottom: 0cm; margin-left: 34.65pt; margin-right: 5.4pt; margin-top: 7.4pt; mso-list: l11 level1 lfo3; tab-stops: 34.7pt; text-align: justify; text-indent: -18.0pt;"><!--[if !supportLists]--><span style="font-family: times; font-size: medium;"><span lang="EN-US" style="letter-spacing: -1.25pt;">•<span style="font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: normal;"> </span></span><!--[endif]-->formulation of the annual action plan.<o:p></o:p></span></p>
</td>
</tr>
<tr>
<td style="border-top: none; border: solid windowtext 1.0pt; mso-border-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 42.55pt;" valign="top" width="57">
<p align="center" class="MsoNormal" style="line-height: normal; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; text-align: center;"><b><span style="font-family: times; font-size: medium;">8.<o:p></o:p></span></b></p>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 154.05pt;" valign="top" width="205">
<p class="TableParagraph" style="line-height: 14.6pt; margin-left: 0cm; mso-line-height-rule: exactly;"><span style="font-family: times; font-size: medium;"><b><span lang="EN-US">CSR Committee</span></b><o:p></o:p></span></p>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 242.85pt;" valign="top" width="324">
<p class="TableParagraph" style="margin-bottom: .0001pt; margin-bottom: 0cm; margin-left: 34.65pt; margin-right: 5.4pt; margin-top: 0cm; mso-list: l15 level1 lfo4; tab-stops: 34.7pt; text-align: justify; text-indent: -18.0pt;"><!--[if !supportLists]--><span style="font-family: times; font-size: medium;"><span lang="EN-US">·<span style="font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: normal;"> </span></span>CSR Committee not required, if amount to be spent by a company does
not exceed fifty lakh rupees.<o:p></o:p></span></p>
<p class="TableParagraph" style="margin-bottom: .0001pt; margin-bottom: 0cm; margin-left: 34.65pt; margin-right: 5.4pt; margin-top: 0cm; mso-list: l15 level1 lfo4; tab-stops: 34.7pt; text-align: justify; text-indent: -18.0pt;"><!--[if !supportLists]--><span style="font-family: times; font-size: medium;"><span lang="EN-US">·<span style="font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: normal;"> </span></span>In such cases Board shall discharge all functions of CSR Committee.<o:p></o:p></span></p>
</td>
</tr>
<tr>
<td style="border-top: none; border: solid windowtext 1.0pt; mso-border-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 42.55pt;" valign="top" width="57">
<p align="center" class="MsoNormal" style="line-height: normal; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; text-align: center;"><b><span style="font-family: times; font-size: medium;">9.<o:p></o:p></span></b></p>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 154.05pt;" valign="top" width="205">
<p class="TableParagraph" style="margin-top: .1pt;"><b><span lang="EN-US"><span style="font-family: times; font-size: medium;">Ongoing
Project<o:p></o:p></span></span></b></p>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 242.85pt;" valign="top" width="324">
<p class="TableParagraph" style="margin-bottom: .0001pt; margin-bottom: 0cm; margin-left: 38.9pt; margin-right: 5.4pt; margin-top: .1pt; mso-list: l6 level1 lfo5; tab-stops: 38.9pt; text-align: justify; text-indent: -21.3pt;"><!--[if !supportLists]--><span style="font-family: times; font-size: medium;">·<span style="font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: normal;"> </span>“Ongoing Project”
means a multi-‐year project
having timelines not exceeding three years excluding the financial year in
which it was commenced.<o:p></o:p></span></p>
<p class="TableParagraph" style="margin-bottom: .0001pt; margin-bottom: 0cm; margin-left: 38.9pt; margin-right: 5.4pt; margin-top: 0cm; mso-list: l6 level1 lfo5; tab-stops: 38.9pt; text-align: justify; text-indent: -21.3pt;"><!--[if !supportLists]--><span style="font-family: times; font-size: medium;">·<span style="font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: normal;"> </span>Project that was initially not approved as a multi-‐ year project can
be made ongoing by extending the duration beyond one year by the board based
on reasonable justification.<o:p></o:p></span></p>
<p class="TableParagraph" style="margin-bottom: .0001pt; margin-bottom: 0cm; margin-left: 38.9pt; margin-right: 5.4pt; margin-top: 0cm; mso-list: l6 level1 lfo5; tab-stops: 38.9pt; text-align: justify; text-indent: -21.3pt;"><!--[if !supportLists]--><span style="font-family: times; font-size: medium;">·<span style="font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: normal;"> </span>It appears that CSR Project duration can not be more than three years.<o:p></o:p></span></p>
</td>
</tr>
<tr>
<td style="border-top: none; border: solid windowtext 1.0pt; mso-border-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 42.55pt;" valign="top" width="57">
<p align="center" class="MsoNormal" style="line-height: normal; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; text-align: center;"><b><span style="font-family: times; font-size: medium;">10.<o:p></o:p></span></b></p>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 154.05pt;" valign="top" width="205">
<p class="TableParagraph" style="line-height: 14.6pt; margin-left: 0cm; mso-line-height-rule: exactly;"><span style="font-family: times; font-size: medium;"><b><span lang="EN-US">Implementing Agency</span></b><o:p></o:p></span></p>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 242.85pt;" valign="top" width="324">
<p class="TableParagraph" style="margin-bottom: .0001pt; margin-bottom: 0cm; margin-left: 17.6pt; margin-right: 5.4pt; margin-top: .1pt; mso-list: l17 level1 lfo6; tab-stops: 17.6pt; text-align: justify; text-indent: -17.6pt;"><!--[if !supportLists]--><span style="font-family: times; font-size: medium;">·<span style="font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: normal;"> </span>Companies can do CSR either on its own or through Implementing Agency.<o:p></o:p></span></p>
<p class="TableParagraph" style="margin-bottom: .0001pt; margin-bottom: 0cm; margin-left: 17.6pt; margin-right: 5.4pt; margin-top: .1pt; tab-stops: 17.6pt; text-align: justify;"><span style="font-family: times; font-size: medium;"> </span></p>
<p class="TableParagraph" style="line-height: 14.65pt; margin-left: 17.6pt; mso-line-height-rule: exactly; mso-list: l17 level1 lfo6; tab-stops: 17.6pt; text-align: justify; text-indent: -17.6pt;"><!--[if !supportLists]--><span style="font-family: times; font-size: medium;">·<span style="font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: normal;"> </span>Three major changes had been made:<o:p></o:p></span></p>
<p class="TableParagraph" style="line-height: 14.65pt; margin-left: 17.6pt; mso-line-height-rule: exactly; tab-stops: 17.6pt; text-align: justify;"><span style="font-family: times; font-size: large; line-height: 98%; text-indent: -14.2pt;">1. </span><span style="font-family: times; font-size: large; line-height: 98%; text-indent: -14.2pt;">w.e.f. 01.04.2021 registration of such entity shall
be mandatory by filing form CSR 1. Unique CSR Registration Number shall be
generated for each entity.</span></p>
<p class="TableParagraph" style="line-height: 98%; margin-bottom: .0001pt; margin-bottom: 0cm; margin-left: 31.8pt; margin-right: 5.4pt; margin-top: .15pt; mso-list: l13 level1 lfo7; tab-stops: 31.8pt 88.7pt; text-align: justify; text-indent: -14.2pt;"><!--[if !supportLists]--><span style="font-family: times; font-size: medium;"><span style="line-height: 98%;">2.</span><span style="line-height: 98%;">Only registered public trust now allowed as against
any registered trust, except in case established by CG/SG.<o:p></o:p></span></span></p><p class="TableParagraph" style="line-height: 98%; margin-bottom: .0001pt; margin-bottom: 0cm; margin-left: 31.8pt; margin-right: 5.4pt; margin-top: .15pt; mso-list: l13 level1 lfo7; tab-stops: 31.8pt 88.7pt; text-align: justify; text-indent: -14.2pt;"><span style="font-family: times; font-size: medium;"><span style="line-height: 98%;"><br /></span></span></p>
<p class="TableParagraph" style="line-height: 96%; margin-bottom: .0001pt; margin-bottom: 0cm; margin-left: 31.8pt; margin-right: 5.35pt; margin-top: .05pt; mso-list: l13 level1 lfo7; tab-stops: 31.8pt 88.7pt; text-align: justify; text-indent: -14.2pt;"><!--[if !supportLists]--><span style="font-family: times; font-size: medium;"><span style="line-height: 96%;">3.</span><span style="line-height: 96%;">In addition to registration under respective act,
registration under the provisions of section 12A & 80 G of the Income Tax
has been made mandatory. 12A is understandable, as it exempts the entity from
tax liability.<o:p></o:p></span></span></p>
<p class="TableParagraph" style="line-height: 96%; margin-bottom: .0001pt; margin-bottom: 0cm; margin-left: 31.8pt; margin-right: 5.35pt; margin-top: .05pt; tab-stops: 31.8pt 88.7pt; text-align: justify;"><span style="line-height: 96%;"><span style="font-family: times; font-size: medium;"> </span></span></p>
<p class="TableParagraph" style="margin-bottom: .0001pt; margin-bottom: 0cm; margin-left: 17.6pt; margin-right: 5.4pt; margin-top: 0cm; mso-list: l9 level1 lfo8; tab-stops: 17.6pt 136.8pt; text-align: justify; text-indent: -17.6pt;"><!--[if !supportLists]--><span style="font-family: times; font-size: medium;">·<span style="font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: normal;"> </span>80G provides deductions to donor, why 80G has been made mandatory is
not clear.<o:p></o:p></span></p>
<p class="TableParagraph" style="line-height: 96%; margin-bottom: .0001pt; margin-bottom: 0cm; margin-left: 17.6pt; margin-right: 5.4pt; margin-top: .5pt; mso-list: l9 level1 lfo8; tab-stops: 17.6pt 88.7pt; text-align: justify; text-indent: -17.6pt;"><!--[if !supportLists]--><span style="font-family: times; font-size: medium;"><span style="line-height: 96%;">·<span style="font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: normal;"> </span></span><span style="line-height: 96%;">Track record of three years in similar programs or
projects has been replaced by similar activities. In what manner it shall
affect the implementing agencies?<o:p></o:p></span></span></p>
</td>
</tr>
<tr>
<td style="border-top: none; border: solid windowtext 1.0pt; mso-border-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 42.55pt;" valign="top" width="57">
<p align="center" class="MsoNormal" style="line-height: normal; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; text-align: center;"><b><span style="font-family: times; font-size: medium;">11.<o:p></o:p></span></b></p>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 154.05pt;" valign="top" width="205">
<p class="TableParagraph" style="line-height: 14.6pt; margin-left: 0cm; mso-line-height-rule: exactly;"><span style="font-family: times; font-size: medium;"><b><span lang="EN-US">Engagement of
International Organisations</span></b><o:p></o:p></span></p>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 242.85pt;" valign="top" width="324">
<p class="TableParagraph" style="margin-bottom: .0001pt; margin-bottom: 0cm; margin-left: 17.6pt; margin-right: 5.35pt; margin-top: .1pt; mso-list: l14 level1 lfo9; tab-stops: 17.6pt; text-align: justify; text-indent: -17.6pt;"><!--[if !supportLists]--><span style="font-family: times; font-size: medium;"><span lang="EN-US" style="letter-spacing: -1.25pt;">•<span style="font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: normal;"> </span></span>A company may engage international
organisations for designing, monitoring and evaluation of the CSR projects or
programmes as per its CSR policy as well as for capacity building of their
own personnel for CSR.<o:p></o:p></span></p>
<p class="TableParagraph" style="line-height: 14.6pt; margin-left: 17.6pt; mso-line-height-rule: exactly; mso-list: l14 level1 lfo9; tab-stops: 17.6pt; text-align: justify; text-indent: -17.6pt;"><!--[if !supportLists]--><span style="font-family: times; font-size: medium;"><span lang="EN-US" style="letter-spacing: -1.25pt;">•<span style="font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: normal;"> </span></span>Only Central Government notified organisations
shall qualify as International Organisation<o:p></o:p></span></p>
</td>
</tr>
<tr>
<td style="border-top: none; border: solid windowtext 1.0pt; mso-border-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 42.55pt;" valign="top" width="57">
<p align="center" class="MsoNormal" style="line-height: normal; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; text-align: center;"><b><span style="font-family: times; font-size: medium;">12.<o:p></o:p></span></b></p>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 154.05pt;" valign="top" width="205">
<p class="TableParagraph" style="line-height: 14.6pt; margin-left: 0cm; mso-line-height-rule: exactly;"><span style="font-family: times; font-size: medium;"><b><span lang="EN-US">Responsibility of a Board
and CFO</span></b><o:p></o:p></span></p>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 242.85pt;" valign="top" width="324">
<p class="TableParagraph" style="margin-bottom: .0001pt; margin-bottom: 0cm; margin-left: 27.2pt; margin-right: 0cm; margin-top: .1pt; mso-list: l4 level1 lfo10; tab-stops: 17.6pt; text-align: justify; text-indent: -27.2pt;"><!--[if !supportLists]--><span style="font-family: times; font-size: medium;"><span lang="EN-US" style="letter-spacing: -1.25pt;">•<span style="font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: normal;"> </span></span><!--[endif]-->The Board shall be responsible to:<o:p></o:p></span></p>
<p class="TableParagraph" style="line-height: 98%; margin-bottom: .0001pt; margin-bottom: 0cm; margin-left: 38.9pt; margin-right: 5.35pt; margin-top: .1pt; mso-list: l4 level2 lfo10; tab-stops: 38.9pt; text-align: justify; text-indent: -21.3pt;"><!--[if !supportLists]--><span style="font-family: times; font-size: medium;"><span lang="EN-US" style="line-height: 98%;">o<span style="font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: normal;"> </span></span><span style="line-height: 98%;">satisfy itself that
the funds so disbursed have been utilised for the purposes and in the manner
as approved by it.<o:p></o:p></span></span></p>
<p class="TableParagraph" style="line-height: 98%; margin-bottom: .0001pt; margin-bottom: 0cm; margin-left: 38.9pt; margin-right: 5.35pt; margin-top: 0cm; mso-list: l4 level2 lfo10; tab-stops: 38.9pt; text-align: justify; text-indent: -21.3pt;"><!--[if !supportLists]--><span style="font-family: times; font-size: medium;"><span lang="EN-US" style="line-height: 98%;">o<span style="font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: normal;"> </span></span><span style="line-height: 98%;">monitor the
implementation of the project with reference to the approved timelines and
year-‐wise allocation<o:p></o:p></span></span></p>
<p class="TableParagraph" style="line-height: 98%; margin-bottom: .0001pt; margin-bottom: 0cm; margin-left: 38.9pt; margin-right: 5.35pt; margin-top: .05pt; mso-list: l4 level2 lfo10; tab-stops: 38.9pt; text-align: justify; text-indent: -21.3pt;"><!--[if !supportLists]--><span style="font-family: times; font-size: medium;"><span lang="EN-US" style="line-height: 98%;">o<span style="font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: normal;"> </span></span><span style="line-height: 98%;">to make
modifications, if any, for smooth implementation of the project within the
overall permissible time period<o:p></o:p></span></span></p>
<p class="TableParagraph" style="line-height: 98%; margin-bottom: .0001pt; margin-bottom: 0cm; margin-left: 38.9pt; margin-right: 5.35pt; margin-top: .05pt; tab-stops: 38.9pt; text-align: justify;"><span style="line-height: 98%;"><span style="font-family: times; font-size: medium;"> </span></span></p>
<p class="MsoNormal" style="line-height: normal; margin-left: 17.6pt; mso-list: l4 level2 lfo10; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; text-align: justify; text-indent: -14.15pt;"><!--[if !supportLists]--><span style="font-family: times; font-size: medium;"><span lang="EN-US">o<span style="font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: normal;"> </span></span>CFO or the
person responsible for financial management shall certify to the effect.<o:p></o:p></span></p>
</td>
</tr>
<tr>
<td style="border-top: none; border: solid windowtext 1.0pt; mso-border-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 42.55pt;" valign="top" width="57">
<p align="center" class="MsoNormal" style="line-height: normal; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; text-align: center;"><b><span style="font-family: times; font-size: medium;">13.<o:p></o:p></span></b></p>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 154.05pt;" valign="top" width="205">
<p class="TableParagraph" style="line-height: 14.6pt; margin-left: 0cm; mso-line-height-rule: exactly;"><span style="font-family: times; font-size: medium;"><b><span lang="EN-US">Annual Action Plan</span></b><o:p></o:p></span></p>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 242.85pt;" valign="top" width="324">
<p class="TableParagraph" style="line-height: 100%; margin-bottom: .0001pt; margin-bottom: 0cm; margin-left: 27.15pt; margin-right: 5.35pt; margin-top: 0cm; mso-list: l5 level1 lfo11; tab-stops: 27.2pt; text-align: justify; text-indent: -18.0pt;"><!--[if !supportLists]--><span style="font-family: times; font-size: medium;"><span lang="EN-US" style="letter-spacing: -1.25pt; line-height: 100%;">•<span style="font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: normal;"> </span></span><span style="line-height: 100%;">The CSR Committee
shall formulate and recommend to the Board, an annual action plan in
pursuance of its CSR policy.<o:p></o:p></span></span></p>
<p class="TableParagraph" style="line-height: 14.4pt; margin-left: 27.2pt; mso-line-height-rule: exactly; mso-list: l5 level1 lfo11; tab-stops: 27.2pt; text-align: justify; text-indent: -18.05pt;"><!--[if !supportLists]--><span style="font-family: times; font-size: medium;"><span lang="EN-US" style="letter-spacing: -1.25pt;">•<span style="font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: normal;"> </span></span><!--[endif]-->Annual Action Plan to include:<o:p></o:p></span></p>
<p class="TableParagraph" style="line-height: 14.85pt; margin-left: 45.95pt; mso-line-height-rule: exactly; mso-list: l5 level2 lfo11; tab-stops: 45.95pt; text-align: justify; text-indent: -14.15pt;"><!--[if !supportLists]--><span style="font-family: times; font-size: medium;"><span lang="EN-US">o<span style="font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: normal;">
</span></span><!--[endif]-->List of CSR Projects approved<o:p></o:p></span></p>
<p class="TableParagraph" style="line-height: 14.65pt; margin-left: 45.95pt; mso-line-height-rule: exactly; mso-list: l5 level2 lfo11; tab-stops: 45.95pt; text-align: justify; text-indent: -14.15pt;"><!--[if !supportLists]--><span style="font-family: times; font-size: medium;"><span lang="EN-US">o<span style="font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: normal;">
</span></span><!--[endif]-->Manner of execution<o:p></o:p></span></p>
<p class="TableParagraph" style="line-height: 96%; margin-bottom: .0001pt; margin-bottom: 0cm; margin-left: 45.95pt; margin-right: 5.35pt; margin-top: .15pt; mso-list: l5 level2 lfo11; tab-stops: 45.95pt; text-align: justify; text-indent: -14.15pt;"><!--[if !supportLists]--><span style="font-family: times; font-size: medium;"><span lang="EN-US" style="line-height: 96%;">o<span style="font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: normal;"> </span></span><span style="line-height: 96%;">modalities of
utilisation of funds and implementation schedules<o:p></o:p></span></span></p><p class="TableParagraph" style="line-height: 96%; margin-bottom: .0001pt; margin-bottom: 0cm; margin-left: 45.95pt; margin-right: 5.35pt; margin-top: .15pt; mso-list: l5 level2 lfo11; tab-stops: 45.95pt; text-align: justify; text-indent: -14.15pt;"><span style="font-family: times; font-size: medium;"><span style="line-height: 96%;"><br /></span></span></p>
<p class="TableParagraph" style="line-height: 14.85pt; margin-bottom: .0001pt; margin-bottom: 0cm; margin-left: 45.95pt; margin-right: 0cm; margin-top: .15pt; mso-line-height-rule: exactly; mso-list: l5 level2 lfo11; tab-stops: 45.95pt; text-align: justify; text-indent: -14.15pt;"><!--[if !supportLists]--><span style="font-family: times; font-size: medium;"><span lang="EN-US">o </span>monitoring and reporting mechanism<o:p></o:p></span></p>
<p class="TableParagraph" style="line-height: 14.45pt; margin-left: 27.2pt; mso-line-height-rule: exactly; mso-list: l5 level1 lfo11; tab-stops: 27.2pt; text-align: justify; text-indent: -18.05pt;"><!--[if !supportLists]--><span style="font-family: times; font-size: medium;"><span lang="EN-US" style="letter-spacing: -1.25pt;">•<span style="font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: normal;"> </span></span>On recommendation of CSR Committee Annual Action
Plan may be altered by the Board.<o:p></o:p></span></p>
</td>
</tr>
<tr>
<td style="border-top: none; border: solid windowtext 1.0pt; mso-border-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 42.55pt;" valign="top" width="57">
<p align="center" class="MsoNormal" style="line-height: normal; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; text-align: center;"><b><span style="font-family: times; font-size: medium;">14.<o:p></o:p></span></b></p>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 154.05pt;" valign="top" width="205">
<p class="TableParagraph" style="line-height: 14.6pt; margin-left: 0cm; mso-line-height-rule: exactly;"><span style="font-family: times; font-size: medium;"><b><span lang="EN-US">Treatment of surplus
arising out of CSR activities</span></b><o:p></o:p></span></p>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 242.85pt;" valign="top" width="324">
<p class="MsoNormal" style="line-height: normal; margin-left: 17.6pt; mso-list: l2 level1 lfo12; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; text-align: justify; text-indent: -14.15pt;"><!--[if !supportLists]--><span style="font-family: times; font-size: medium;"><span lang="EN-US">o<span style="font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: normal;"> </span></span>Any surplus
arising out of the CSR activities shall not form part of the business profit
of a company.<o:p></o:p></span></p>
<p class="MsoNormal" style="line-height: normal; margin-left: 17.6pt; mso-list: l2 level1 lfo12; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; text-align: justify; text-indent: -14.15pt;"><!--[if !supportLists]--><span style="font-family: times; font-size: medium;"><span lang="EN-US">o<span style="font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: normal;"> </span></span><!--[endif]-->Such surplus
shall be ploughed back into the same project or shall be transferred to the
Unspent CSR Account and spent in pursuance of CSR policy / Annual action plan
of the company or transfer such surplus amount to a Fund specified in Schedule
VII, within a period of six months of the expiry of the financial year<o:p></o:p></span></p>
</td>
</tr>
<tr>
<td style="border-top: none; border: solid windowtext 1.0pt; mso-border-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 42.55pt;" valign="top" width="57">
<p align="center" class="MsoNormal" style="line-height: normal; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; text-align: center;"><b><span style="font-family: times; font-size: medium;">15.<o:p></o:p></span></b></p>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 154.05pt;" valign="top" width="205">
<p class="TableParagraph" style="line-height: 14.6pt; margin-left: 0cm; mso-line-height-rule: exactly;"><span style="font-family: times; font-size: medium;"><b><span lang="EN-US">Capital Assets</span></b><o:p></o:p></span></p>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 242.85pt;" valign="top" width="324">
<p class="TableParagraph" style="margin-bottom: .0001pt; margin-bottom: 0cm; margin-left: 17.6pt; margin-right: 6.85pt; margin-top: 0cm; mso-list: l1 level1 lfo13; tab-stops: 17.6pt; text-align: justify; text-indent: -14.15pt;"><!--[if !supportLists]--><span style="font-family: times; font-size: medium;"><span lang="EN-US">o<span style="font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: normal;"> </span></span>The CSR Assets to be held by a Section 8 Company, or Registered Public
Trust, or registered society with charitable objects, having CSR registration
number or beneficiaries of the said CSR project, in the form of self-‐help
groups, collectives, entities or a public authority.<o:p></o:p></span></p>
<p class="TableParagraph" style="margin-bottom: .0001pt; margin-bottom: 0cm; margin-left: 17.6pt; margin-right: 6.85pt; margin-top: 0cm; tab-stops: 17.6pt; text-align: justify; text-indent: -14.15pt;"><span style="font-family: times; font-size: medium;"> </span></p>
<p class="TableParagraph" style="margin-bottom: .0001pt; margin-bottom: 0cm; margin-left: 17.6pt; margin-right: 6.85pt; margin-top: 0cm; mso-list: l1 level1 lfo13; tab-stops: 17.6pt; text-align: justify; text-indent: -14.15pt;"><!--[if !supportLists]--><span style="font-family: times; font-size: medium;"><span lang="EN-US">o<span style="font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: normal;">
</span></span><!--[endif]-->Any CSR asset created prior to these Rules, required to comply within
a period of 180 days (Board may extend by 90 days).<o:p></o:p></span></p>
</td>
</tr>
<tr>
<td style="border-top: none; border: solid windowtext 1.0pt; mso-border-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 42.55pt;" valign="top" width="57">
<p align="center" class="MsoNormal" style="line-height: normal; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; text-align: center;"><b><span style="font-family: times; font-size: medium;">16.<o:p></o:p></span></b></p>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 154.05pt;" valign="top" width="205">
<p class="TableParagraph" style="line-height: 14.6pt; margin-left: 0cm; mso-line-height-rule: exactly;"><span style="font-family: times; font-size: medium;"><b><span lang="EN-US">CSR Reporting</span></b><o:p></o:p></span></p>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 242.85pt;" valign="top" width="324">
<p class="TableParagraph" style="margin-bottom: .0001pt; margin-bottom: 0cm; margin-left: 21.35pt; margin-right: 9.3pt; margin-top: .1pt; mso-list: l16 level1 lfo14; tab-stops: 21.35pt; text-align: justify; text-indent: -21.25pt;"><!--[if !supportLists]--><span style="font-family: times; font-size: medium;"><span lang="EN-US" style="letter-spacing: -0.15pt;">•<span style="font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: normal;"> </span></span>From financial year starting on or after April 01, 2020 CSR report
shall be in Annexure – II, previous years Annexure I shall continue.<o:p></o:p></span></p>
<p class="TableParagraph" style="margin-bottom: .0001pt; margin-bottom: 0cm; margin-left: 21.35pt; margin-right: 9.3pt; margin-top: 0cm; mso-list: l16 level1 lfo14; tab-stops: 21.35pt; text-align: justify; text-indent: -21.25pt;"><!--[if !supportLists]--><span style="font-family: times; font-size: medium;"><span lang="EN-US" style="letter-spacing: -0.15pt;">•<span style="font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: normal;"> </span></span>Annexure II mandates additional disclosures regarding:<o:p></o:p></span></p>
<p class="TableParagraph" style="line-height: 14.8pt; margin-bottom: .0001pt; margin-bottom: 0cm; margin-left: 31.8pt; margin-right: 9.3pt; margin-top: 0cm; mso-line-height-rule: exactly; mso-list: l16 level2 lfo14; tab-stops: 21.35pt; text-align: justify; text-indent: -14.2pt;"><!--[if !supportLists]--><span style="font-family: times; font-size: medium;"><span lang="EN-US">o<span style="font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: normal;"> </span></span><!--[endif]-->Impact assessment<o:p></o:p></span></p>
<p class="TableParagraph" style="line-height: 14.65pt; margin-bottom: .0001pt; margin-bottom: 0cm; margin-left: 31.8pt; margin-right: 9.3pt; margin-top: 0cm; mso-line-height-rule: exactly; mso-list: l16 level2 lfo14; tab-stops: 21.35pt; text-align: justify; text-indent: -14.2pt;"><!--[if !supportLists]--><span style="font-family: times; font-size: medium;"><span lang="EN-US">o<span style="font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: normal;"> </span></span><!--[endif]-->Amount available for Setoff<o:p></o:p></span></p>
<p class="TableParagraph" style="line-height: 96%; margin-bottom: .0001pt; margin-bottom: 0cm; margin-left: 31.8pt; margin-right: 9.3pt; margin-top: .1pt; mso-list: l16 level2 lfo14; tab-stops: 21.35pt; text-align: justify; text-indent: -14.2pt;"><!--[if !supportLists]--><span style="font-family: times; font-size: medium;"><span lang="EN-US" style="line-height: 96%;">o </span><span style="line-height: 96%;">CSR amount spent against ongoing project/other than on going project<o:p></o:p></span></span></p>
<p class="TableParagraph" style="line-height: 14.85pt; margin-bottom: .0001pt; margin-bottom: 0cm; margin-left: 31.8pt; margin-right: 9.3pt; margin-top: .15pt; mso-line-height-rule: exactly; mso-list: l16 level2 lfo14; tab-stops: 21.35pt; text-align: justify; text-indent: -14.2pt;"><!--[if !supportLists]--><span style="font-family: times; font-size: medium;"><span lang="EN-US">o<span style="font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: normal;">
</span></span><!--[endif]-->Administrative overhead<o:p></o:p></span></p>
<p class="TableParagraph" style="line-height: 96%; margin-bottom: .0001pt; margin-bottom: 0cm; margin-left: 31.8pt; margin-right: 9.3pt; margin-top: .15pt; mso-list: l16 level2 lfo14; tab-stops: 21.35pt; text-align: justify; text-indent: -14.2pt;"><!--[if !supportLists]--><span style="font-family: times; font-size: medium;"><span lang="EN-US" style="line-height: 96%;">o<span style="font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: normal;"> </span></span><!--[endif]--><span style="line-height: 96%;">Unspent amount
against ongoing project/other than ongoing project<o:p></o:p></span></span></p>
<p class="TableParagraph" style="line-height: 96%; margin-bottom: .0001pt; margin-bottom: 0cm; margin-left: 31.8pt; margin-right: 9.3pt; margin-top: .15pt; mso-list: l16 level2 lfo14; tab-stops: 21.35pt; text-align: justify; text-indent: -14.2pt;"><!--[if !supportLists]--><span style="font-family: times; font-size: medium;"><span lang="EN-US" style="line-height: 96%;">o<span style="font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: normal;"> </span></span><!--[endif]--><span style="line-height: 96%;">Details regarding
capital assets<o:p></o:p></span></span></p>
</td>
</tr>
<tr>
<td style="border-top: none; border: solid windowtext 1.0pt; mso-border-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 42.55pt;" valign="top" width="57">
<p align="center" class="MsoNormal" style="line-height: normal; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; text-align: center;"><b><span style="font-family: times; font-size: medium;">17.<o:p></o:p></span></b></p>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 154.05pt;" valign="top" width="205">
<p class="TableParagraph" style="line-height: 14.6pt; margin-left: 0cm; mso-line-height-rule: exactly;"><span style="font-family: times; font-size: medium;"><b><span lang="EN-US">Impact Assessment</span></b><o:p></o:p></span></p>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 242.85pt;" valign="top" width="324">
<p class="TableParagraph" style="margin-bottom: .0001pt; margin-bottom: 0cm; margin-left: 17.6pt; margin-right: 0cm; margin-top: .1pt; text-align: justify; text-indent: -14.15pt;"><span style="font-family: times; font-size: medium;">• A company having
the obligation of spending average CSR amount of Rs 10 Crore or more in the
three immediately preceding financial years in pursuance of Section 135(5) of
the Act, shall undertake impact assessment.<o:p></o:p></span></p>
<p class="TableParagraph" style="margin-bottom: .0001pt; margin-bottom: 0cm; margin-left: 17.6pt; margin-right: 5.35pt; margin-top: 0cm; mso-list: l7 level1 lfo15; tab-stops: 17.6pt; text-align: justify; text-indent: -14.15pt;"><!--[if !supportLists]--><span style="font-family: times; font-size: medium;"><span lang="EN-US" style="letter-spacing: -1.25pt;">•<span style="font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: normal;"> </span></span><!--[endif]-->Impact assessment to be done by an
independent agency.<o:p></o:p></span></p>
<p class="TableParagraph" style="margin-bottom: .0001pt; margin-bottom: 0cm; margin-left: 17.6pt; margin-right: 5.35pt; margin-top: 0cm; mso-list: l7 level1 lfo15; tab-stops: 17.6pt; text-align: justify; text-indent: -14.15pt;"><!--[if !supportLists]--><span style="font-family: times; font-size: medium;"><span lang="EN-US" style="letter-spacing: -1.25pt;">•<span style="font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: normal;"> </span></span><!--[endif]-->Impact assessment to be done in respect of
CSR projects having outlays of one crore rupees or more, and which have been
completed not less than one year before undertaking the impact study.<o:p></o:p></span></p>
<p class="TableParagraph" style="margin-bottom: .0001pt; margin-bottom: 0cm; margin-left: 17.6pt; margin-right: 5.35pt; margin-top: .05pt; mso-list: l7 level1 lfo15; tab-stops: 17.6pt; text-align: justify; text-indent: -14.15pt;"><!--[if !supportLists]--><span style="font-family: times; font-size: medium;"><span lang="EN-US" style="letter-spacing: -1.25pt;">•<span style="font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: normal;"> </span></span><!--[endif]-->The impact assessment reports shall be placed
before the Board and shall be annexed to the annual report on CSR.<o:p></o:p></span></p>
<p class="TableParagraph" style="margin-bottom: .0001pt; margin-bottom: 0cm; margin-left: 17.6pt; margin-right: 5.35pt; margin-top: 0cm; mso-list: l7 level1 lfo15; tab-stops: 17.6pt; text-align: justify; text-indent: -14.15pt;"><!--[if !supportLists]--><span style="font-family: times; font-size: medium;"><span lang="EN-US" style="letter-spacing: -1.25pt;">•<span style="font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: normal;"> </span></span><!--[endif]-->Impact assessment expenditure for a
financial year shall not exceed five percent of the total CSR expenditure for
that financial year or fifty lakh rupees, whichever is less.<o:p></o:p></span></p>
</td>
</tr>
<tr>
<td style="border-top: none; border: solid windowtext 1.0pt; mso-border-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 42.55pt;" valign="top" width="57">
<p align="center" class="MsoNormal" style="line-height: normal; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; text-align: center;"><b><span style="font-family: times; font-size: medium;">18.<o:p></o:p></span></b></p>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 154.05pt;" valign="top" width="205">
<p class="TableParagraph" style="line-height: 14.6pt; margin-left: 0cm; mso-line-height-rule: exactly;"><span style="font-family: times; font-size: medium;"><b><span lang="EN-US">Website Disclosure</span></b><o:p></o:p></span></p>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 242.85pt;" valign="top" width="324">
<p class="MsoNormal" style="line-height: normal; margin-left: 17.6pt; mso-list: l3 level1 lfo18; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; text-align: justify; text-indent: -14.15pt;"><!--[if !supportLists]--><span style="font-family: times; font-size: medium;"><span lang="EN-US">o<span style="font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: normal;"> </span></span><!--[endif]-->New Disclosure
on Website – CSR Committee constitution, CSR Projects approved.<o:p></o:p></span></p>
</td>
</tr>
<tr>
<td style="border-top: none; border: solid windowtext 1.0pt; mso-border-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 42.55pt;" valign="top" width="57">
<p align="center" class="MsoNormal" style="line-height: normal; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; text-align: center;"><b><span style="font-family: times; font-size: medium;">19.<o:p></o:p></span></b></p>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 154.05pt;" valign="top" width="205">
<p class="TableParagraph" style="line-height: 14.6pt; margin-left: 0cm; mso-line-height-rule: exactly;"><b><span lang="EN-US"><span style="font-family: times; font-size: medium;">National Unspent CSR Fund<o:p></o:p></span></span></b></p>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 242.85pt;" valign="top" width="324">
<p class="TableParagraph" style="margin-bottom: .0001pt; margin-bottom: 0cm; margin-left: 17.6pt; margin-right: 5.35pt; margin-top: .1pt; mso-list: l8 level1 lfo16; tab-stops: 17.6pt; text-align: justify; text-indent: -17.6pt;"><!--[if !supportLists]--><span style="font-family: times; font-size: medium;"><span lang="EN-US" style="letter-spacing: -1.25pt;">•<span style="font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: normal;"> </span></span>Central Government shall establish a
‘National Unspent CSR Fund’ for purpose of transferring the unspent amount of
companies , which shall be then used for activities outlined in Schedule VII.<o:p></o:p></span></p>
<p class="TableParagraph" style="margin-bottom: .0001pt; margin-bottom: 0cm; margin-left: 17.6pt; margin-right: 5.35pt; margin-top: 0cm; mso-list: l8 level1 lfo16; tab-stops: 17.6pt; text-align: justify; text-indent: -17.6pt;"><!--[if !supportLists]--><span style="font-family: times; font-size: medium;"><span lang="EN-US" style="letter-spacing: -1.25pt;">•<span style="font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: normal;"> </span></span>Until such fund is created the unspent CSR amount
in terms of provisions of sub-‐section (5) and (6) of section 135 of the Act
shall be transferred by the company to any fund as specified in schedule VII of
the Act.<o:p></o:p></span></p>
<p class="TableParagraph" style="margin-bottom: .0001pt; margin-bottom: 0cm; margin-left: 17.6pt; margin-right: 5.35pt; margin-top: 0cm; mso-list: l8 level1 lfo16; tab-stops: 17.6pt; text-align: justify; text-indent: -17.6pt;"><!--[if !supportLists]--><span style="font-family: times; font-size: medium;"><span lang="EN-US" style="letter-spacing: -1.25pt;">•<span style="font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: normal;"> </span></span>PMNRF, PM CARES, Swach Bharat Kosh, Clean
Ganga Fund are the funds specified under Schedule VII.<o:p></o:p></span></p>
</td>
</tr>
<tr>
<td style="border-top: none; border: solid windowtext 1.0pt; mso-border-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 42.55pt;" valign="top" width="57">
<p align="center" class="MsoNormal" style="line-height: normal; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; text-align: center;"><b><span style="font-family: times; font-size: medium;">20.<o:p></o:p></span></b></p>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 154.05pt;" valign="top" width="205">
<p class="TableParagraph" style="line-height: 14.6pt; margin-left: 0cm; mso-line-height-rule: exactly;"><b><span lang="EN-US"><span style="font-family: times; font-size: medium;">Form CSR 1<o:p></o:p></span></span></b></p>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 242.85pt;" valign="top" width="324">
<p class="TableParagraph" style="margin-bottom: .0001pt; margin-bottom: 0cm; margin-left: 17.6pt; margin-right: 0cm; margin-top: .1pt; mso-list: l12 level1 lfo17; tab-stops: 17.6pt; text-align: justify; text-indent: -17.6pt;"><!--[if !supportLists]--><span style="font-family: times; font-size: medium;"><span lang="EN-US" style="letter-spacing: -0.05pt;">•<span style="font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: normal;"> </span></span>For registration of Implementing agencies<o:p></o:p></span></p>
<p class="TableParagraph" style="margin-bottom: .0001pt; margin-bottom: 0cm; margin-left: 17.6pt; margin-right: 0cm; margin-top: .1pt; mso-list: l12 level1 lfo17; tab-stops: 17.6pt; text-align: justify; text-indent: -17.6pt;"><!--[if !supportLists]--><span style="font-size: medium;"><span style="font-family: times;"><span lang="EN-US" style="letter-spacing: -0.05pt;">•<span style="font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: normal;"> </span></span></span><span style="font-family: times;">Unique CSR Registration Number shall be generated for each entity</span></span><span style="font-family: Times New Roman, serif; font-size: 14pt;"><o:p></o:p></span></p>
</td>
</tr>
</tbody></table><br /><span style="font-family: "Times New Roman", serif; font-size: 14pt;"></span><p></p></div>CS Ashish Jainhttp://www.blogger.com/profile/00427323626525507645noreply@blogger.comtag:blogger.com,1999:blog-5686816402528651075.post-76838042210933158452021-01-20T00:49:00.001+05:302021-03-11T23:37:47.205+05:30Draft Format of Reseller Agreement<h2 style="text-align: center;"><span style="color: red; font-size: x-large;"> </span><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhgacY3jNdUr8tdgyxlJmobh_i6DqpIXr6BzZ-RHzN9xece0kVUiPsD_fIBvutaKYhBBso-n-VRVoMbJ2rLHN6FQ_qLQrCe-Q-T3n7-9kUkZBhbZ-i93-qBUgR32x5zCFj88hoDs2sjpi0/s273/Draft-Format-Reseller-Agreement.webp" style="font-size: xx-large; margin-left: 1em; margin-right: 1em;"><img alt="Draft-Format-Reseller-Agreement" border="0" data-original-height="185" data-original-width="273" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhgacY3jNdUr8tdgyxlJmobh_i6DqpIXr6BzZ-RHzN9xece0kVUiPsD_fIBvutaKYhBBso-n-VRVoMbJ2rLHN6FQ_qLQrCe-Q-T3n7-9kUkZBhbZ-i93-qBUgR32x5zCFj88hoDs2sjpi0/s16000/Draft-Format-Reseller-Agreement.webp" title="Draft Format of Reseller Agreement" /></a><span style="color: red; font-size: x-large;"><br /></span></h2><span><a name='more'></a></span><h2 style="text-align: center;"><b style="color: red; font-size: xx-large;"><span style="font-family: "Times New Roman", serif;">Draft
Format of Reseller Agreement</span></b></h2>
<p class="MsoNormal" style="line-height: normal; margin-bottom: 0cm; mso-layout-grid-align: none; text-align: justify; text-autospace: none;"><b><span style="font-family: "Times New Roman",serif; font-size: 13pt;">THIS RESELLER
AGREEMENT </span></b><span style="font-family: "Times New Roman",serif; font-size: 13pt;">is
made this _________ day of ________, 20__ BETWEEN ABC Technologies Ltd., a
Company incorporated in India and having its registered office at
_______________ (hereinafter called “ABC” which expression shall where the
context so admits include its successors-in-title and assigns) of the ONE PART;
AND XYZ & Co., a Firm registered in India and having its place of business
office at _____________ (hereinafter called “THE SELLER” which expression shall
where the context so admits include its successors in title and assigns) of the
OTHER PART.</span></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: 0cm; mso-layout-grid-align: none; text-align: justify; text-autospace: none;"><b><span style="font-family: "Times New Roman",serif; font-size: 13pt;">WHEREAS </span></b><span style="font-family: "Times New Roman",serif; font-size: 13pt;">ABC is a
communications company licensed <i>inter alia </i>as an Internet Service
Provider (“ISP”) by the _______________</span></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: 0cm; mso-layout-grid-align: none; text-align: justify; text-autospace: none;"><b><span style="font-family: "Times New Roman",serif; font-size: 13pt;">AND WHEREAS </span></b><span style="font-family: "Times New Roman",serif; font-size: 13pt;">the Reseller is
engaged <i>inter alia </i>in the sales and installations of telecommunications
services and equipment and has requested to be appointed as a reseller for
sale, installation and maintenance of ABC equipment/services subject to the
terms and conditions hereinafter appearing.</span></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: 0cm; mso-layout-grid-align: none; text-align: justify; text-autospace: none;"><b><span style="font-family: "Times New Roman",serif; font-size: 13pt;">NOW THIS AGREEMENT
WITNESSES AS FOLLOWS</span></b></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: 0cm; mso-layout-grid-align: none; text-align: justify; text-autospace: none;"><span style="font-family: "Times New Roman",serif; font-size: 13pt;">In this Agreement,
except otherwise stated the following terms shall have the meanings specified
hereunder.</span></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: 0cm; mso-layout-grid-align: none; text-align: justify; text-autospace: none;"><span style="font-family: "Times New Roman",serif; font-size: 13pt;">1.1 “Restricted or
Confidential Information” means all corporate, technical, proprietary, business
practices, operational and other information of whatever kind relating to ABC’s
business whether in written or oral form or otherwise howsoever which is
directly or indirectly disclosed by ABC or its agents to the Reseller and which
is generally not available to the outside parties or in the public domain.</span></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: 0cm; mso-layout-grid-align: none; text-align: justify; text-autospace: none;"><span style="font-family: "Times New Roman",serif; font-size: 13pt;">1.2 “Person” means
any artificial or natural person including corporation, partnership or other
entity or association.</span></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: 0cm; mso-layout-grid-align: none; text-align: justify; text-autospace: none;"><span style="font-family: "Times New Roman",serif; font-size: 13pt;">1.3 “Standard
Operating Procedures” means ABC’s prescribed standards and specifications
regarding installation of systems including but not limited to fees, pricing,
stock distribution and inventory procedures, equipment requirements and specification.</span></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: 0cm; mso-layout-grid-align: none; text-align: justify; text-autospace: none;"><span style="font-family: "Times New Roman",serif; font-size: 13pt;">1.4 “equipment”
include the device or hardware required to support the services provided by
ABC, which includes modems, transmitter satellite dish, transmitter cables,
receivers and related accessories.</span></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: 0cm; mso-layout-grid-align: none; text-align: justify; text-autospace: none;"><span style="font-family: "Times New Roman",serif; font-size: 13pt;">1.5 “Product”
means the provision of Broadband, wireless and Satellite wireless and Internet
Services and equipment and any other service or device ABC may provide from
time to time.</span></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: 0cm; mso-layout-grid-align: none; text-align: justify; text-autospace: none;"><span style="font-family: "Times New Roman",serif; font-size: 13pt;">1.6 “ABC BRAND”
means the Trade marks, patents, designs, logos, Brand names, know-how,
copyright and other intellectual property proprietary to ABC.</span></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: 0cm; mso-layout-grid-align: none; text-align: justify; text-autospace: none;"><span style="font-family: "Times New Roman",serif; font-size: 13pt;">2.1 ABC hereby
appoints the Reseller as an independent contractor for the sales and
installation of ABC’s product subject to the terms and conditions of this Agreement.</span></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: 0cm; mso-layout-grid-align: none; text-align: justify; text-autospace: none;"><span style="font-family: "Times New Roman",serif; font-size: 13pt;">2.2 Unless agreed
to in writing by ABC, the Reseller agrees not to offer for sale or use,
represent, be an owner of, or lend influence or assistance to any entity which
offers for sale or use in the territory, any products or service which are the same
or substantially similar to those offered by ABC.</span></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: 0cm; mso-layout-grid-align: none; text-align: justify; text-autospace: none;"><span style="font-family: "Times New Roman",serif; font-size: 13pt;">2.3 ABC may from
time to time specify standard operating procedures to be followed by the Reseller.</span></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: 0cm; mso-layout-grid-align: none; text-align: justify; text-autospace: none;"><span style="font-family: "Times New Roman",serif; font-size: 13pt;">3.1 ABC agrees it
will use reasonable commercial efforts to provide assistance in
products/services demonstrations along with training of the sales and
mechanical personnel of the Dealer.</span></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: 0cm; mso-layout-grid-align: none; text-align: justify; text-autospace: none;"><span style="font-family: "Times New Roman",serif; font-size: 13pt;">3.2 ABC will
deliver the products paid for by the Reseller within a reasonable period from
the date of receipt of payment by the Reseller. The Reseller shall be solely
responsible for the cost of transportation of the ABC’s products.</span></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: 0cm; mso-layout-grid-align: none; text-align: justify; text-autospace: none;"><span style="font-family: "Times New Roman",serif; font-size: 13pt;">3.3 ABC will
provide the Reseller with reasonable quantities of sales and promotional
material, operating manuals, report, forms, training materials to market the
products.</span></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: 0cm; mso-layout-grid-align: none; text-align: justify; text-autospace: none;"><span style="font-family: "Times New Roman",serif; font-size: 13pt;">3.4 ABC will
inform the Reseller of any changes or review in the prices of ABC’s products,
services and technology.</span></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: 0cm; mso-layout-grid-align: none; text-align: justify; text-autospace: none;"><span style="font-family: "Times New Roman",serif; font-size: 13pt;">4.1 The Reseller
represents that it is experienced in the use and operation of the product and
services to be purchased hereunder and will be primarily responsible for the
marketing, sales, installation and commissioning of the products and services
including collecting reactivation charges that ABC will charge a defaulting
customer.</span></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: 0cm; mso-layout-grid-align: none; text-align: justify; text-autospace: none;"><span style="font-family: "Times New Roman",serif; font-size: 13pt;">4.2 The Reseller
shall at all times comply with the Guidelines issued by ABC and their update on
recommended sale price of the equipment, bandwidth charges, site survey,
installation, warranty and maintenance policies.</span></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: 0cm; mso-layout-grid-align: none; text-align: justify; text-autospace: none;"><span style="font-family: "Times New Roman",serif; font-size: 13pt;">4.3 The Reseller
shall use its best efforts to meet and maintain the periodic sales target as
set by ABC.</span></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: 0cm; mso-layout-grid-align: none; text-align: justify; text-autospace: none;"><span style="font-family: "Times New Roman",serif; font-size: 13pt;">4.4 The Reseller
shall provide ABC with its marketing plans, information, sales forecast, market
surveys, reports and any other data and information reasonably requested by ABC
from time to time which may be necessary for market development and sales
strategy.</span></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: 0cm; mso-layout-grid-align: none; text-align: justify; text-autospace: none;"><span style="font-family: "Times New Roman",serif; font-size: 13pt;">4.5 The Reseller
shall not to incur any liability or bind ABC or otherwise make any commitments
or give any warranty, undertaking or representation, media advertisement either
by itself or on behalf of ABC with respect to ABC’s services or products except
as expressly authorized in writing by ABC.</span></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: 0cm; mso-layout-grid-align: none; text-align: justify; text-autospace: none;"><span style="font-family: "Times New Roman",serif; font-size: 13pt;">4.6 The Reseller
shall not alter or permit alteration by its agents or any other person to the
products or the packaging thereof or otherwise determine or attempt to
determine the code etc in any manner whatsoever and hereby indemnify ABC for
any loss or damage caused to or suffered by ABC by reason of violation or non-observance
of the provision of this clause.</span></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: 0cm; mso-layout-grid-align: none; text-align: justify; text-autospace: none;"><span style="font-family: "Times New Roman",serif; font-size: 13pt;">4.7 The Reseller
shall be required to purchase a complete demonstration unit, which will be used
for the sole purpose of marketing at the cost of `__________.</span></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: 0cm; mso-layout-grid-align: none; text-align: justify; text-autospace: none;"><span style="font-family: "Times New Roman",serif; font-size: 13pt;">5.1 Payments for
all orders shall become due as specified in each invoice and shall be payable
by Bank drafts, Certified Cheque or cash in the name of ABC LIMITED or such
other name ABC may request in writing.</span></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: 0cm; mso-layout-grid-align: none; text-align: justify; text-autospace: none;"><span style="font-family: "Times New Roman",serif; font-size: 13pt;">5.2 The Reseller’s
payment obligation shall be satisfied on the date funds from the Reseller are
credited in a bank account designated by ABC provided that ABC may at its
discretion charge financial and administrative charges in the event of late
payment and cancelled or dishonoured or stopped cheques etc.</span></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: 0cm; mso-layout-grid-align: none; text-align: justify; text-autospace: none;"><span style="font-family: "Times New Roman",serif; font-size: 13pt;">5.3 ABC shall be
at liberty to accept or reject any order of its products and reserves the right
to limit the total amount of products delivered to the Reseller for which
payment to ABC by the Reseller remains outstanding at any given time.</span></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: 0cm; mso-layout-grid-align: none; text-align: justify; text-autospace: none;"><span style="font-family: "Times New Roman",serif; font-size: 13pt;">5.4 Each party
hereto severally represents and warrant to the other party that as of the date
hereof:</span></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: 0cm; mso-layout-grid-align: none; text-align: justify; text-autospace: none;"><span style="font-family: "Times New Roman",serif; font-size: 13pt;">5.4.1 It has all
requisite power, authority and approval required to enter into, execute and
deliver this Agreement and to perform fully its obligations hereunder.</span></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: 0cm; mso-layout-grid-align: none; text-align: justify; text-autospace: none;"><span style="font-family: "Times New Roman",serif; font-size: 13pt;">5.4.2 It has all
the requisite power and authority to own, sell, purchase operate and carry on
its obligations under this Agreement.</span></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: 0cm; mso-layout-grid-align: none; text-align: justify; text-autospace: none;"><span style="font-family: "Times New Roman",serif; font-size: 13pt;">5.4.3 It has
complied with all laws, regulations and other legal requirements in relation to
its performance under this Agreement and shall pay appropriate taxes to the relevant
authorities.</span></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: 0cm; mso-layout-grid-align: none; text-align: justify; text-autospace: none;"><span style="font-family: "Times New Roman",serif; font-size: 13pt;">6.1 The Reseller
acknowledges that the ownership of and all rights in the trademarks, copyright,
patents and designs in regard to the information technology and as provided on
the internet including online information, website, data development materials,
updates, communications network, electronic commerce support services,
dedicated ports and customer base offered by ABC in terms of this Agreement
shall vest absolutely in ABC and the Dealer shall neither have nor shall assert
any claim thereon.</span></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: 0cm; mso-layout-grid-align: none; text-align: justify; text-autospace: none;"><span style="font-family: "Times New Roman",serif; font-size: 13pt;">6.2 The use of
ABC’s name or trademark in conjunction with any Reseller sponsored activities
without the prior written consent of ABC is strictly prohibited.</span></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: 0cm; mso-layout-grid-align: none; text-align: justify; text-autospace: none;"><span style="font-family: "Times New Roman",serif; font-size: 13pt;">6.3 The Reseller
shall not have and shall not assert any claim to any revenue generated by ABC
through the placement of advertisement and other materials at any media
including web, radio, television, newspaper the website as ABC may in its sole
discretion consider appropriate.</span></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: 0cm; mso-layout-grid-align: none; text-align: justify; text-autospace: none;"><span style="font-family: "Times New Roman",serif; font-size: 13pt;">6.4 The Reseller
shall not copy, translate, modify, adapt, de-compile, and disassemble the
information without the prior consent in writing of ABC.</span></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: 0cm; mso-layout-grid-align: none; text-align: justify; text-autospace: none;"><span style="font-family: "Times New Roman",serif; font-size: 13pt;">6.5 The
obligations of the parties under this Clause 7 shall subsist and survive the
expiration or termination of this Agreement.</span></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: 0cm; mso-layout-grid-align: none; text-align: justify; text-autospace: none;"><span style="font-family: "Times New Roman",serif; font-size: 13pt;">7.1 The Reseller
shall bear the full risk of loss or damage to any of the products delivered to
it by ABC and ABC shall not in any circumstances be liable for any loss or
damage to the products where such loss or damage occurs after delivery to or
while in the custody of the Reseller</span></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: 0cm; mso-layout-grid-align: none; text-align: justify; text-autospace: none;"><span style="font-family: "Times New Roman",serif; font-size: 13pt;">7.2 The cost of
delivery of the products to the Reseller’s premises shall be borne solely by
the Dealer. The cost shall include transportation and insurance. The Reseller
shall inform ABC in writing of any alleged goods in-transit loss or damage
within 48 hours from the date of delivery of the products to the Reseller. Failure
to comply with this provision shall be conclusive evidence that the products
were delivered in good order and condition and ABC shall not be liable for any
loss or damage.</span></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: 0cm; mso-layout-grid-align: none; text-align: justify; text-autospace: none;"><span style="font-family: "Times New Roman",serif; font-size: 13pt;">7.3 ABC shall not
in any circumstances howsoever be liable for any fault, loss or damage of the
product after the delivery of the product except as provided in the product
warranty.</span></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: 0cm; mso-layout-grid-align: none; text-align: justify; text-autospace: none;"><span style="font-family: "Times New Roman",serif; font-size: 13pt;">8.1 The Reseller
shall keep all restricted or confidential information, knowledge, data,
technical specification etc. provided by ABC in strict confidence and shall
disclose to its customers or its employees strictly on need to know basis and
with the objectives of promoting sales of the products. No such information
shall be disclosed by the Reseller howsoever to ABC’s competitor(s) or any
third party.</span></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: 0cm; mso-layout-grid-align: none; text-align: justify; text-autospace: none;"><span style="font-family: "Times New Roman",serif; font-size: 13pt;">8.2 The Reseller
acknowledges and agrees that any unauthorized use or disclosure of the products
or any other items of information, data and the delivery material or any other
matter given to the Reseller may cause irreparable damage to ABC.</span></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: 0cm; mso-layout-grid-align: none; text-align: justify; text-autospace: none;"><span style="font-family: "Times New Roman",serif; font-size: 13pt;">8.3 The Reseller
accepts full responsibility to prevent any unauthorized use or disclosure
restricted or confidential information and shall promptly notify ABC of any
unauthorized use and take at his expense all steps that are necessary to
recover the product or information and to prevent its subsequent unauthorized dissemination
including availing itself of action for seizure and injunctive relief. In the
event of the failure of the Reseller to take foregoing steps in timely and adequate
manner, ABC may take the said steps at the Reseller’s cost. The rights of ABC
and obligations of the Reseller herein are without prejudice to their other respective
rights and obligations.</span></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: 0cm; mso-layout-grid-align: none; text-align: justify; text-autospace: none;"><span style="font-family: "Times New Roman",serif; font-size: 13pt;">8.4 In order to
protect the confidential information provided by ABC, the Reseller shall obtain
similar confidentiality undertakings from any employee, consultant or
sub-contractor to whom any confidential information is disclosed in terms of
this agreement and the disclosing party hereby irrevocably and unconditionally
indemnities the other party against any loss harm or damage which it may suffer
as a result of such disclosure.</span></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: 0cm; mso-layout-grid-align: none; text-align: justify; text-autospace: none;"><span style="font-family: "Times New Roman",serif; font-size: 13pt;">8.5 Information
disclosed by ABC in any form, regarding business affairs, customers, markets,
finances, methods, technical concepts and documentation, pre-release products,
access numbers and passwords provided to the Reseller constitutes part of ABC
confidential information and shall not be disclosed by the Dealer save as herein
stated.</span></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: 0cm; mso-layout-grid-align: none; text-align: justify; text-autospace: none;"><span style="font-family: "Times New Roman",serif; font-size: 13pt;">9.1 Neither party
shall be liable for failure to perform or delay in the performance of its
obligations hereunder caused by any circumstances beyond its reasonable
control, including but not limited to fire, war (whether embargoes, shortages
of motor vehicles, delays in transportation, inability to obtain supplies, any
act of federal, state or local government or any other civil or military authority,
industrial disputes, lockouts and strikes) power failures, viruses or any acts
amounting to force majeure, provided that if the period of default continues for
more than 60 days the other party shall be entitled to terminate the Agreement forthwith
by a notice in writing.</span></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: 0cm; mso-layout-grid-align: none; text-align: justify; text-autospace: none;"><span style="font-family: "Times New Roman",serif; font-size: 13pt;">10.1 Either party
may terminate this agreement in provided 30 days prior notice in writing has
been given and the other party fails to carry out its responsibilities under
this Agreement, provided that the termination shall be without prejudice to any
right which may have accrued to either party as at the time of the termination.</span></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: 0cm; mso-layout-grid-align: none; text-align: justify; text-autospace: none;"><span style="font-family: "Times New Roman",serif; font-size: 13pt;">10.2 In the event
of Clause 10.1 occurring, the Reseller shall within ten (10) days of the date
of termination of this Agreement return to ABC all its property including, but
not limited to inventory, merchandising materials and equipment, any and all
samples, promotional and advertising materials relating to ABC’s products and
services.</span></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: 0cm; mso-layout-grid-align: none; text-align: justify; text-autospace: none;"><span style="font-family: "Times New Roman",serif; font-size: 13pt;">10.3 Upon
termination of this Agreement, the Reseller shall return to ABC all paper and
electronic materials and copies thereof and permanently delete from its
computer systems or media, the digital form or software or computer readable files
containing confidential information and ABC’s intellectual property received in
the performance of this Agreement.</span></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: 0cm; mso-layout-grid-align: none; text-align: justify; text-autospace: none;"><span style="font-family: "Times New Roman",serif; font-size: 13pt;">11.1 In no event
shall ABC, its affiliates, employees, representatives or any other person
acting on behalf of ABC be liable for any consequential, indirect, special,
punitive, or incidental damages or lost profits, whether foreseeable or unforeseeable,
whatsoever, including but not limited to claims for loss of data, goodwill, use
of the services, interruption in use or availability of data, stoppage of other
work or impairment of other assets, loss or damage to property, any loss of
profit or business opportunity, whether any such damage occur during or after the
period of this Agreement.</span></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: 0cm; mso-layout-grid-align: none; text-align: justify; text-autospace: none;"><span style="font-family: "Times New Roman",serif; font-size: 13pt;">12.1 Except as
expressly set forth in this agreement, abc does not make any representation or
warranty, express, implied or statutory, regarding any and all products, services,
content, equipment or facilities, including without limitation to warranties of
quality, performance, non-infringement, merchantability or fitness for a
particular purpose. nor are there any warranties created by a course of
dealing, course of performance or trade usage. abc does not guarantee that the operation
of internet portal(s), site(s), or server(s) or the performance of its online functions
and services will be error-free or uninterrupted or free from viruses or other
malignant data processes. abc does not guarantee that data submitted or held in
storage on or through its system associated with the internet will be secured
from unauthorised access.</span></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: 0cm; mso-layout-grid-align: none; text-align: justify; text-autospace: none;"><span style="font-family: "Times New Roman",serif; font-size: 13pt;">13.1 It has been
mutually agreed between the parties that all differences and disputes arising during
the Agreement period regarding interpretation of contract shall be solved by
mutual discussions. In the event of differences or disputes remaining
unresolved, the same shall be referred for arbitration under the Arbitration
and Conciliation Act, 1996 or any statutory amendment thereto or any
re-enactment thereof for the time being in force and the Arbitrator decision shall
be final and binding on the parties.</span></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: 0cm; mso-layout-grid-align: none; text-align: justify; text-autospace: none;"><span style="font-family: "Times New Roman",serif; font-size: 13pt;">13.2 It is
expressly agreed between the Parties that any legal action, suit or proceeding
arising out of or in any way relating to this Agreement shall be subject to the
exclusive jurisdiction of the courts at ____________.</span></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: 0cm; mso-layout-grid-align: none; text-align: justify; text-autospace: none;"><span style="font-family: "Times New Roman",serif; font-size: 13pt;">14.1 All notices
requests or other communications given or required to be given under this
Agreement shall be in writing and shall be deemed to have been properly given
when delivered in person or when sent by e-mail, recorded delivery post, speed
post, postage prepaid registered air mail, or by facsimile (confirmed
subsequently by postage prepaid registered air mail) to the address set forth
hereunder. Service of any such notice shall be deemed complete on the date of
actual delivery. Either party may, by notice to the other party given in accordance
with this Section, change the contact details to which all future notices to
such party shall be mailed.</span></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: 0cm; mso-layout-grid-align: none; text-align: justify; text-autospace: none;"><span style="font-family: "Times New Roman",serif; font-size: 13pt;">15.1 The Reseller
shall not assign or transfer its benefits and obligations under this Agreement
in part or in whole without the prior written consent of ABC.</span></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: 0cm; mso-layout-grid-align: none; text-align: justify; text-autospace: none;"><span style="font-family: "Times New Roman",serif; font-size: 13pt;">16.1 This
Agreement together with the Annexures attached hereto and made integral part of
this Agreement constitute the entire agreement between ABC and the Dealer with
respect to the subject matter hereof and supersedes all prior agreements
between them with respect thereto. Headings to the paragraphs of this Agreement
are solely for convenience and are not intended for interpretation or construction
of this Agreement.</span></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: 0cm; mso-layout-grid-align: none; text-align: justify; text-autospace: none;"><span style="font-family: "Times New Roman",serif; font-size: 13pt;">17.1 This
Agreement may not be altered or amended except by a written agreement duly
executed by the parties hereto.</span></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: 0cm; mso-layout-grid-align: none; text-align: justify; text-autospace: none;"><span style="font-family: "Times New Roman",serif; font-size: 13pt;">18.1 The
provisions of this Agreement shall be binding on the parties and their
respective successors and assigns, subject, however, to the provisions regarding
assignment hereinabove set forth.</span></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: 0cm; mso-layout-grid-align: none; text-align: justify; text-autospace: none;"><span style="font-family: "Times New Roman",serif; font-size: 13pt;">19.1 In the event
that any provision or any portion of any provision contained in this Agreement
is unenforceable, the remaining portion of such provision shall nevertheless be
carried into effect.</span></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: 0cm; mso-layout-grid-align: none; text-align: justify; text-autospace: none;"><span style="font-family: "Times New Roman",serif; font-size: 13pt;">20.1 The failure
of either party to enforce at any time or for any period of time the provisions
of this Agreement shall not be construed as a waiver of such provision or of
the right of such party thereafter to enforce each and every such provision of
this Agreement.</span></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: 0cm; mso-layout-grid-align: none; text-align: justify; text-autospace: none;"><span style="font-family: "Times New Roman",serif; font-size: 13pt;">21.1 This
Agreement shall be construed, interpreted and shall take effect in accordance
with the Laws of India.</span></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: 0cm; mso-layout-grid-align: none; text-align: justify; text-autospace: none;"><b><span style="font-family: "Times New Roman",serif; font-size: 13pt;">IN WITNESS WHEREOF
</span></b><span style="font-family: "Times New Roman",serif; font-size: 13pt;">the
parties have caused their Common Seals (now optional) to be hereunto affixed
this day and year first above written.<o:p></o:p></span></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: 0cm; mso-layout-grid-align: none; text-align: justify; text-autospace: none;"><span style="font-family: "Times New Roman",serif; font-size: 13pt;"><o:p> </o:p></span></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: 0cm; mso-layout-grid-align: none; text-align: justify; text-autospace: none;"><span style="font-family: "Times New Roman",serif; font-size: 13pt;">For and on behalf
of ABC <span style="mso-tab-count: 4;"> </span>For
and on behalf the RESELLER<o:p></o:p></span></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: 0cm; mso-layout-grid-align: none; text-align: justify; text-autospace: none;"><span style="font-family: "Times New Roman",serif; font-size: 13pt;">Name : ____________
<span style="mso-tab-count: 4;"> </span>Name
: ____________<o:p></o:p></span></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: 0cm; mso-layout-grid-align: none; text-align: justify; text-autospace: none;"><span style="font-family: "Times New Roman",serif; font-size: 13pt;">Position :
____________ <span style="mso-tab-count: 4;"> </span>Position
: ____________<o:p></o:p></span></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: 0cm; mso-layout-grid-align: none; text-align: justify; text-autospace: none;"><span style="font-family: "Times New Roman",serif; font-size: 13pt;">Signature :
____________ <span style="mso-tab-count: 4;"> </span>Signature
: ____________<o:p></o:p></span></p>
<p class="MsoNormal" style="text-align: justify;"><span style="font-family: "Times New Roman",serif; font-size: 13pt; line-height: 115%;">Date : ____________ <span style="mso-tab-count: 4;"> </span>Date
: ____________<o:p></o:p></span></p><p class="MsoNormal" style="text-align: justify;"><span style="font-family: Times New Roman, serif;"><span style="font-size: 17.3333px;"><br /></span></span></p><p class="MsoNormal" style="text-align: justify;"><span style="color: #2b00fe; font-family: Times New Roman, serif;"><span style="font-size: 17.3333px;"><b>Related Post :</b></span></span></p><p class="MsoNormal" style="text-align: justify;"><a href="http://www.corporatelaws.in/2016/12/Agreement-Appointment-Sole-Selling-Agent.html" style="font-family: "Times New Roman", serif; font-size: 17.3333px;" target="_blank"><b><span style="color: red;">Agreement For Appointment of Sole Selling Agent</span></b></a></p>CS Ashish Jainhttp://www.blogger.com/profile/00427323626525507645noreply@blogger.comUnited States37.09024 -95.7128918.780006163821156 -130.869141 65.400473836178847 -60.556641tag:blogger.com,1999:blog-5686816402528651075.post-74014158317759134302021-01-06T01:23:00.001+05:302021-01-17T17:40:43.007+05:30Board Resolution To File Case Under Section 138 of Negotiable Instruments Act<p style="text-align: center;"> <a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhHoEYvB_VR1ttx6H0paSoA_lqKLj1Z-YF9nkY0GCWXo5rz8EyoonqHDvv3T2jSA3xgyp1qkImoEHWloOCeoz9ht80m3vgkNiDypfeEGwiePmAI4_A59UjP1FmZLRRiLtEk71Fo6Ugy_nQ/s300/Board-Resolution-File-Case-Section-138-Negotiable-Iinstruments-Act.jpg" style="margin-left: 1em; margin-right: 1em;"><img alt="Board-Resolution-File-Case-Section-138-Negotiable-Iinstruments-Act" border="0" data-original-height="168" data-original-width="300" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhHoEYvB_VR1ttx6H0paSoA_lqKLj1Z-YF9nkY0GCWXo5rz8EyoonqHDvv3T2jSA3xgyp1qkImoEHWloOCeoz9ht80m3vgkNiDypfeEGwiePmAI4_A59UjP1FmZLRRiLtEk71Fo6Ugy_nQ/s16000/Board-Resolution-File-Case-Section-138-Negotiable-Iinstruments-Act.jpg" /></a></p><span><a name='more'></a></span><p style="text-align: center;"></p><p style="line-height: normal; margin-bottom: 0cm; mso-layout-grid-align: none; text-align: justify; text-autospace: none;"><span style="font-family: times; font-size: large;">If a company wants to file a case under
section 138 of Under Section 138 of Negotiable Instruments Act, 1881 the approval of
its board of directors is required and for this
purpose board also authorizes someone to file the case on behalf of the company
and to take necessary measures in this regard. </span></p><p style="line-height: normal; margin-bottom: 0cm; mso-layout-grid-align: none; text-align: justify; text-autospace: none;"><span style="font-family: times; font-size: large;"><br /></span></p><div style="text-align: left;"><h2 style="line-height: normal; margin-bottom: 0cm; mso-layout-grid-align: none; text-align: center; text-autospace: none;"><b style="mso-bidi-font-weight: normal;"><span style="font-family: "Times New Roman", serif;"><span style="color: red; font-size: x-large;">Board Resolution To File Case Under Section 138 of Negotiable Instruments Act</span></span></b></h2>
<p class="MsoNormal" style="line-height: normal; margin-bottom: 0cm; mso-layout-grid-align: none; text-align: justify; text-autospace: none;"><span style="font-family: "Times New Roman",serif; font-size: 14pt;"><br /></span></p><p class="MsoNormal" style="line-height: normal; margin-bottom: 0cm; mso-layout-grid-align: none; text-align: justify; text-autospace: none;"><span style="font-family: "Times New Roman",serif; font-size: 14pt;">"<b>RESOLVED
THAT </b>consent of the Board of Directors of the Company be and is hereby
accorded to file FIR under section 138 of the Negotiable Instruments Act, 1881
and to file criminal/civil suits before the __________ against Mr. ________ ,
the Proprietor of M/s. ________________."</span></p>
<div class="separator" style="clear: both; text-align: center;">
<a href="https://www.instamojo.com/corporatelaws/board-resolution-to-file-case-under-section-/" rel="nofollow" target="_blank"><img border="0" height="50" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEh16UyAsRiv2rsoVw_LiFskVbkw-v04aPcFwAnl0Cy4ZJm5rXHyxxH7iSS2xhheAsDVzW_Bjtee_27p1yg98p6lCc2X3iinJxcNlYU8Yt6X2U1wIJMrFjmGGDMLpY0U56ukIoHc8Ycz7Vk/s400/WORD+FORMAT.png" width="400" /></a></div>
<p class="MsoNormal" style="line-height: normal; margin-bottom: 0cm; mso-layout-grid-align: none; text-align: justify; text-autospace: none;"><span style="font-family: "Times New Roman",serif; font-size: 14pt;">"<b>RESOLVED
FURTHER THAT </b>Mr. _______, Director of the Company be and is hereby
authorised to file and/or to defend the suits/cases under any laws of the land
of the Country before the competent Court, Tribunal, authorities or forum for
and on behalf of the Company from time to time."</span></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: 0cm; mso-layout-grid-align: none; text-align: justify; text-autospace: none;"><span style="font-family: "Times New Roman",serif; font-size: 14pt;">"<b>RESOLVED
FURTHER THAT </b>Mr. ________ be and is hereby authorised to engage any
advocate/solicitors/consultants and to submit Vakalatnama, statements,
documents, evidences, declarations, etc. before the appropriate authorities/court
and/or the Police Authorities for and on behalf of the Company and to enter
into any compromise, settlement of case as they may consider appropriate in the
interest of the Company from time to time."<o:p></o:p></span></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: 0cm; mso-layout-grid-align: none; text-align: justify; text-autospace: none;"><span style="font-family: "Times New Roman",serif; font-size: 14pt;"><o:p> </o:p></span></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: 0cm; mso-layout-grid-align: none; text-align: justify; text-autospace: none;"><span style="font-family: "Times New Roman",serif; font-size: 14pt;">The above draft Board
Resolution To File Case Under Section 138 of Negotiable Instruments Act is only
for your reference purposes kindly make necessary changes as per your
requirement.<o:p></o:p></span></p><p class="MsoNormal" style="line-height: normal; margin-bottom: 0cm; mso-layout-grid-align: none; text-align: justify; text-autospace: none;"><span style="font-family: "Times New Roman",serif; font-size: 14pt;"><br /></span></p><p class="MsoNormal" style="line-height: normal; margin-bottom: 0cm; mso-layout-grid-align: none; text-align: justify; text-autospace: none;"><span style="font-family: "Times New Roman",serif; font-size: 14pt;"><b><span style="color: #2b00fe;">Related Post :</span></b></span></p><p class="MsoNormal" style="line-height: normal; margin-bottom: 0cm; mso-layout-grid-align: none; text-align: justify; text-autospace: none;"><span style="font-family: "Times New Roman",serif; font-size: 14pt;"><b><span style="color: red;"><a href="http://www.corporatelaws.in/2016/08/Board-Resolution-Authority-File-Court-Case.html" target="_blank"><span style="color: red;">Board Resolution For Authority To File Court Case</span></a></span></b></span></p></div><p></p>CS Ashish Jainhttp://www.blogger.com/profile/00427323626525507645noreply@blogger.comtag:blogger.com,1999:blog-5686816402528651075.post-18807733004767726802021-01-03T02:39:00.001+05:302021-01-17T14:47:51.389+05:30Employment Security Bond By Employee<p style="text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjpTdAY_9rsArKPFcd40vrCTUvViraYypsiU_UUH0AMjFeb0aUSOuC7Yu1CAS1wExKZli6IWKtlFls4zSuRB82E_PavXfsfyuAi9vpS3_e5F6F-TTTKVIqEnfCa6dsyPizp11h3BzOL7V0/s290/Employment-Security-Bond-By-Employee.webp" style="margin-left: 1em; margin-right: 1em;"><img alt="Employment-Security-Bond-By-Employee" border="0" data-original-height="174" data-original-width="290" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjpTdAY_9rsArKPFcd40vrCTUvViraYypsiU_UUH0AMjFeb0aUSOuC7Yu1CAS1wExKZli6IWKtlFls4zSuRB82E_PavXfsfyuAi9vpS3_e5F6F-TTTKVIqEnfCa6dsyPizp11h3BzOL7V0/s16000/Employment-Security-Bond-By-Employee.webp" title="Employment Security Bond By Employee" /></a></p><span><a name='more'></a></span><h2 style="text-align: center;"><b><span style="font-family: "Times New Roman", serif;"><span style="color: red; font-size: x-large;">Employment
Security Bond By Employee</span></span></b></h2>
<p class="MsoNormal" style="line-height: normal; margin-bottom: 0cm; mso-layout-grid-align: none; text-align: justify; text-autospace: none;"><b><span style="font-family: "Times New Roman",serif; font-size: 14pt;">THIS DEED </span></b><span style="font-family: "Times New Roman",serif; font-size: 14pt;">is made at
.............. this ....... day of ......... 20...... between Shri ....... son
of Shri .......... resident of .......... (hereinafter called the Employee) of
the FIRST PART and Shri ............. son of Shri .......... resident of
........ (hereinafter called the surety) of the SECOND PART and <i>ABC Ltd</i>.
a company incorporated under the Companies Act, 2013 having it’s registered
office at ........... (hereinafter called the company) of the THIRD PART.</span></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: 0cm; mso-layout-grid-align: none; text-align: justify; text-autospace: none;"><b><span style="font-family: "Times New Roman",serif; font-size: 14pt;">WHEREAS </span></b><span style="font-family: "Times New Roman",serif; font-size: 14pt;">the said employee
has been selected by the <i>ABC Ltd</i>. for advanced training in …………. at
.............. for a period of ……. years.</span></p>
<div class="separator" style="clear: both; text-align: center;">
<a href="https://www.instamojo.com/corporatelaws/employment-security-bond-by-employee/" rel="nofollow" target="_blank"><img border="0" height="50" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEh16UyAsRiv2rsoVw_LiFskVbkw-v04aPcFwAnl0Cy4ZJm5rXHyxxH7iSS2xhheAsDVzW_Bjtee_27p1yg98p6lCc2X3iinJxcNlYU8Yt6X2U1wIJMrFjmGGDMLpY0U56ukIoHc8Ycz7Vk/s400/WORD+FORMAT.png" width="400" /></a></div>
<p class="MsoNormal" style="line-height: normal; margin-bottom: 0cm; mso-layout-grid-align: none; text-align: justify; text-autospace: none;"><b><span style="font-family: "Times New Roman",serif; font-size: 14pt;">AND WHEREAS </span></b><span style="font-family: "Times New Roman",serif; font-size: 14pt;">the company will be
required to spend a substantial amount for the training of the employee, air
fare for sending the employee to ............ and shall pay a stipend of `..............
per month during his training period at ........</span></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: 0cm; mso-layout-grid-align: none; text-align: justify; text-autospace: none;"><b><span style="font-family: "Times New Roman",serif; font-size: 14pt;">AND WHEREAS </span></b><span style="font-family: "Times New Roman",serif; font-size: 14pt;">the employee has
agreed with the company under this employment security bond that after completion of the training at .............
he shall return to India and report for duty at the office of the company and
serve the company for at least 5 years thereafter in terms of the agreement
dated ......... executed between the company and the employee, hereinafter
referred to as the said agreement.</span></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: 0cm; mso-layout-grid-align: none; text-align: justify; text-autospace: none;"><b><span style="font-family: "Times New Roman",serif; font-size: 14pt;">AND WHEREAS </span></b><span style="font-family: "Times New Roman",serif; font-size: 14pt;">the employee has
agreed that if he commits a breach of any condition of the said agreement, he
shall refund to the company a sum of ................ with interest
@..........% per annum.</span></p>
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<p class="MsoNormal" style="line-height: normal; margin-bottom: 0cm; mso-layout-grid-align: none; text-align: justify; text-autospace: none;"><b><span style="font-family: "Times New Roman",serif; font-size: 14pt;">AND WHEREAS </span></b><span style="font-family: "Times New Roman",serif; font-size: 14pt;">the company has
called upon the employee to furnish a bond to the extent of ` ............ for
indemnifying the company against all losses or damages which the company may
suffer by reason of the breach of the terms of the said agreement by the
employee.</span></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: 0cm; mso-layout-grid-align: none; text-align: justify; text-autospace: none;"><b><span style="font-family: "Times New Roman",serif; font-size: 14pt;">AND WHEREAS </span></b><span style="font-family: "Times New Roman",serif; font-size: 14pt;">surety, on the request of the employee, has agreed to give a bond for the said sum of `.......
in the manner hereinafter appearing.</span></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: 0cm; mso-layout-grid-align: none; text-align: justify; text-autospace: none;"><b><span style="font-family: "Times New Roman",serif; font-size: 14pt;">NOW THE CONDITION
OF THE ABOVE WRITTEN EMPLOYMENT BOND IS </span></b><span style="font-family: "Times New Roman",serif; font-size: 14pt;">that if the employee commits a breach of any
of the terms of the said agreement, the employee and the surety hereby jointly
and severally shall forthwith pay to the company the said sum of `.......</span></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: 0cm; mso-layout-grid-align: none; text-align: justify; text-autospace: none;"><b style="mso-bidi-font-weight: normal;"><span style="font-family: "Times New Roman",serif; font-size: 14pt;">AND</span></b><span style="font-family: "Times New Roman",serif; font-size: 14pt;"> upon the employee and/or the surety
making such payment, the above-written security bond shall be void and have no
effect, else it will remain in full force and virtue.</span></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: 0cm; mso-layout-grid-align: none; text-align: justify; text-autospace: none;"><b><span style="font-family: "Times New Roman",serif; font-size: 14pt;">IN WITNESS WHEREOF</span></b><b><span style="font-family: "Times New Roman",serif; mso-fareast-language: EN-IN;"> </span></b><span style="font-family: "Times New Roman",serif; font-size: 14pt;">Signed and
delivered by the above-named employee and surety in the presence of:</span></p><p class="MsoNormal" style="line-height: normal; margin-bottom: 0cm; mso-layout-grid-align: none; text-align: justify; text-autospace: none;"><span style="font-family: "Times New Roman",serif; font-size: 14pt;"><br /></span></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: 0cm; mso-layout-grid-align: none; text-align: justify; text-autospace: none;"><b style="mso-bidi-font-weight: normal;"><span style="font-family: "Times New Roman",serif; font-size: 14pt;">WITNESSES</span></b></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: 0cm; mso-layout-grid-align: none; text-align: justify; text-autospace: none;"><span style="font-family: "Times New Roman",serif; font-size: 14pt;">1. ______________ <span style="mso-tab-count: 6;"> </span><b>Employee</b></span></p><p class="MsoNormal" style="line-height: normal; margin-bottom: 0cm; mso-layout-grid-align: none; text-align: justify; text-autospace: none;"><span style="font-family: "Times New Roman", serif; font-size: 14pt;">2. ______________ </span><span style="font-family: "Times New Roman", serif; font-size: 14pt;"> </span><span style="font-family: "Times New Roman", serif; font-size: 14pt;"> </span><b style="font-family: "Times New Roman", serif; font-size: 14pt;">Surety</b></p><p class="MsoNormal" style="line-height: normal; margin-bottom: 0cm; mso-layout-grid-align: none; text-align: justify; text-autospace: none;"><br /></p><p class="MsoNormal" style="line-height: normal; margin-bottom: 0cm; mso-layout-grid-align: none; text-align: justify; text-autospace: none;"><span style="color: #2b00fe; font-family: times; font-size: large;"><b>Related Post:</b></span></p><p class="MsoNormal" style="line-height: normal; margin-bottom: 0cm; mso-layout-grid-align: none; text-align: justify; text-autospace: none;"><a href="https://www.corporatelaws.in/2020/12/on-the-job-training-agreement.html" target="_blank"><span style="font-family: times;"><b><span style="color: red; font-size: large;">On The Job Training Agreement Format</span></b></span></a></p>CS Ashish Jainhttp://www.blogger.com/profile/00427323626525507645noreply@blogger.comUnited States37.09024 -95.7128918.780006163821156 -130.869141 65.400473836178847 -60.556641tag:blogger.com,1999:blog-5686816402528651075.post-11382057588526281832021-01-02T22:56:00.003+05:302021-01-17T15:09:31.513+05:30Affidavit Attested by Executive Magistrate in Prescribed Format<p style="text-align: center;"> <a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhk-0x_eS6aUfVnfGg67YH9BZWKYagy6DKb9tG02QCmQdA-VbLYwFNo-FZKcSpRVvamJIiXwP3hoZnEwXLOtTIuZi94RdCwkdeGlelP4A5pxhjgaUZnRvyNpf1eoy26BkoGqrHsHQsTYIY/s313/Affidavit-Attested-by-Executive-Magistrate-Prescribed-Format.jpg" style="margin-left: 1em; margin-right: 1em;"><img alt="Affidavit-Attested-by-Executive-Magistrate-Prescribed-Format" border="0" data-original-height="161" data-original-width="313" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhk-0x_eS6aUfVnfGg67YH9BZWKYagy6DKb9tG02QCmQdA-VbLYwFNo-FZKcSpRVvamJIiXwP3hoZnEwXLOtTIuZi94RdCwkdeGlelP4A5pxhjgaUZnRvyNpf1eoy26BkoGqrHsHQsTYIY/s16000/Affidavit-Attested-by-Executive-Magistrate-Prescribed-Format.jpg" title="Affidavit Attested by Executive Magistrate in Prescribed Format" /></a></p><span><a name='more'></a></span><h2 style="text-align: center;"><span style="font-family: "Times New Roman", serif; line-height: 115%;"><span style="color: red; font-size: x-large;">Affidavit
Attested by Executive Magistrate in Prescribed Format</span></span></h2>
<p align="center" class="MsoNormal" style="line-height: normal; margin-bottom: 0cm; mso-layout-grid-align: none; text-align: center; text-autospace: none;"><b><span style="font-family: "Times New Roman",serif; font-size: 14pt; mso-fareast-language: EN-IN;">FORM OF AFFIDAVIT<o:p></o:p></span></b></p>
<p align="center" class="MsoNormal" style="line-height: normal; margin-bottom: 0cm; mso-layout-grid-align: none; text-align: center; text-autospace: none;"><span style="font-family: "Times New Roman",serif; font-size: 14pt; mso-fareast-language: EN-IN;">Before Executive Magistrate / Notary Public</span></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: 0cm; mso-layout-grid-align: none; text-align: justify; text-autospace: none;"><span style="font-family: "Times New Roman",serif; font-size: 14pt; mso-fareast-language: EN-IN;">In the Office/Court of Mr. …………………………………… Notary Public /Executive Magistrate
…………………...................................... I/We, Mr./Mrs. ………………….............
Aged ………............................ S/D/W of Mr. …….............. R/o ........................................
P.O …………………… P.S ……………………………… in the district of …………………………… at present ……………………………………….
By Profession ………………… do hereby solemnly affirm and state as follows:</span></p>
<div class="separator" style="clear: both; text-align: center;">
<a href="https://www.instamojo.com/corporatelaws/affidavit-attested-by-executive-magistrate-i-7992d" rel="nofollow" target="_blank"><img border="0" height="50" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEh16UyAsRiv2rsoVw_LiFskVbkw-v04aPcFwAnl0Cy4ZJm5rXHyxxH7iSS2xhheAsDVzW_Bjtee_27p1yg98p6lCc2X3iinJxcNlYU8Yt6X2U1wIJMrFjmGGDMLpY0U56ukIoHc8Ycz7Vk/s400/WORD+FORMAT.png" width="400" /></a></div>
<p class="MsoNormal" style="line-height: normal; margin-bottom: 12pt; mso-layout-grid-align: none; text-align: justify; text-autospace: none;"><b><span style="font-family: "Times New Roman",serif; font-size: 14pt; mso-fareast-language: EN-IN;">1. </span></b><span style="font-family: "Times New Roman",serif; font-size: 14pt; mso-fareast-language: EN-IN;">That I am an applicant to the ……………. for the allotment
of ……………….......….<o:p></o:p></span></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: 12pt; mso-layout-grid-align: none; text-align: justify; text-autospace: none;"><b><span style="font-family: "Times New Roman",serif; font-size: 14pt; mso-fareast-language: EN-IN;">2. </span></b><span style="font-family: "Times New Roman",serif; font-size: 14pt; mso-fareast-language: EN-IN;">That I or any of my family members do not own/owns
or have been allotted any <a href="https://www.corporatelaws.in/2016/06/Draft-House-Rent-Agreement.html" target="_blank">residential house</a>/plot/flat/shop/Shop-cum-Residence
by …….. or any Govt. authority in the locality where the Housing Scheme exists
as per the conditions contained in the Brochure under “Terms and Conditions of Allotment”.<o:p></o:p></span></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: 12pt; mso-layout-grid-align: none; text-align: justify; text-autospace: none;"><b><span style="font-family: "Times New Roman",serif; font-size: 14pt; mso-fareast-language: EN-IN;">3. </span></b><span style="font-family: "Times New Roman",serif; font-size: 14pt; mso-fareast-language: EN-IN;">That I have not sold/ transferred/ purchased any
residential house/plot / flat/shop/Shop-cum-Residence allotted by …….. or any
Govt. authority in the locality where the Housing Scheme exists, as per the
conditions contained in the Brochure under “Terms and Conditions of Allotment”.<o:p></o:p></span></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: 12pt; mso-layout-grid-align: none; text-align: justify; text-autospace: none;"><b><span style="font-family: "Times New Roman",serif; font-size: 14pt; mso-fareast-language: EN-IN;">4. </span></b><span style="font-family: "Times New Roman",serif; font-size: 14pt; mso-fareast-language: EN-IN;">That my annual family income from all sources is
Rs. ____________/-.<o:p></o:p></span></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: 12pt; mso-layout-grid-align: none; text-align: justify; text-autospace: none;"><b><span style="font-family: "Times New Roman",serif; font-size: 14pt; mso-fareast-language: EN-IN;">5. </span></b><span style="font-family: "Times New Roman",serif; font-size: 14pt; mso-fareast-language: EN-IN;">That I undertake to pay the bid value of the Plot
or full cost of the Flat/House as fixed by ……….. after allotment and before
taking over possession, as per terms and conditions of the Brochure.<o:p></o:p></span></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: 12pt; mso-layout-grid-align: none; text-align: justify; text-autospace: none;"><b><span style="font-family: "Times New Roman",serif; font-size: 14pt; mso-fareast-language: EN-IN;">6. </span></b><span style="font-family: "Times New Roman",serif; font-size: 14pt; mso-fareast-language: EN-IN;">That the facts stated in this application appended
to it are true to the best of my/our knowledge and belief and shall be
construed as a part of this affidavit.<o:p></o:p></span></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: 12pt; mso-layout-grid-align: none; text-align: justify; text-autospace: none;"><b><span style="font-family: "Times New Roman",serif; font-size: 14pt; mso-fareast-language: EN-IN;">7. </span></b><span style="font-family: "Times New Roman",serif; font-size: 14pt; mso-fareast-language: EN-IN;">That I am well aware of the terms and conditions
contained in the Brochure and filled up the Application Form and agree to abide
by the same in all respect.<o:p></o:p></span></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: 0cm; mso-layout-grid-align: none; text-align: justify; text-autospace: none;"><span style="font-family: "Times New Roman",serif; font-size: 14pt; mso-fareast-language: EN-IN;"><o:p> </o:p></span></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: 0cm; mso-layout-grid-align: none; text-align: justify; text-autospace: none;"><b style="mso-bidi-font-weight: normal;"><span style="font-family: "Times New Roman",serif; font-size: 14pt; mso-fareast-language: EN-IN;">Identified by me<o:p></o:p></span></b></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: 0cm; mso-layout-grid-align: none; text-align: justify; text-autospace: none;"><b style="mso-bidi-font-weight: normal;"><span style="font-family: "Times New Roman",serif; font-size: 14pt; mso-fareast-language: EN-IN;"><o:p> </o:p></span></b></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: 0cm; mso-layout-grid-align: none; text-align: justify; text-autospace: none;"><b style="mso-bidi-font-weight: normal;"><span style="font-family: "Times New Roman",serif; font-size: 14pt; mso-fareast-language: EN-IN;">Advocate <span style="mso-tab-count: 7;"> </span>Signature of the Deponent<o:p></o:p></span></b></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: 0cm; mso-layout-grid-align: none; text-align: justify; text-autospace: none;"><span style="font-family: "Times New Roman",serif; font-size: 14pt; mso-fareast-language: EN-IN;"><o:p> </o:p></span></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: 0cm; mso-layout-grid-align: none; text-align: justify; text-autospace: none;"><span style="font-family: "Times New Roman",serif; font-size: 14pt; mso-fareast-language: EN-IN;">I Mr./Ms. ………………………………..... Aged……………...................... S/D/W/ of Mr.
……………………………… R/o ...........…… P.O…………………............. P.S ………………........... in
the district of ……………………… at present …............................ by
Profession ………………………… who is identified by Mr. …………………………. advocate appears
before me and states on oath that the content of this affidavit are true to the
best of his/her knowledge and belief.<o:p></o:p></span></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: 0.0001pt; text-align: justify;"><span style="color: white;"><span style="font-size: 18.6667px; text-align: left;"><span style="font-family: Times New Roman, serif;">Affidavit Attested by Executive Magistrate in Prescribed Format</span></span><span style="font-family: "Times New Roman",serif; font-size: 14pt; mso-fareast-language: EN-IN;"><o:p> </o:p></span></span></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: 0cm; mso-layout-grid-align: none; text-align: justify; text-autospace: none;"><b style="mso-bidi-font-weight: normal;"><span style="font-family: "Times New Roman",serif; font-size: 14pt; mso-fareast-language: EN-IN;">Deponent<o:p></o:p></span></b></p>
<p class="MsoNormal" style="margin-left: 180pt; text-align: left; text-indent: 36pt;"><b><span style="font-family: "Times New Roman",serif; font-size: 14pt; line-height: 115%; mso-fareast-language: EN-IN;"><span style="mso-spacerun: yes;"> </span><span style="mso-spacerun: yes;"> </span>Executive Magistrate/Notary Public</span></b></p><span style="color: #2b00fe; font-family: times; font-size: large;"><b>Related Post :<br /></b></span><div><a href="http://www.corporatelaws.in/2016/12/Format-of-Employment-Agreement.html" target="_blank"><span style="color: red; font-family: times; font-size: large;"><b>Format of Employment Agreement</b></span></a></div>CS Ashish Jainhttp://www.blogger.com/profile/00427323626525507645noreply@blogger.comUnited States37.09024 -95.7128918.780006163821156 -130.869141 65.400473836178847 -60.556641tag:blogger.com,1999:blog-5686816402528651075.post-23959164545334940012021-01-02T01:28:00.002+05:302021-01-17T15:19:55.723+05:30Deed of Revocation of Power of Attorney<p style="text-align: center;"> <a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgnIb1ykvNhxo9QM0DrA_qj0h5wvIk_82VIKt3d0NZYMUz23wXs1cLTab9JsAhDVFuZXPCrwjYm1omyWXvP7LorV6wMMawqkyDexvTA8ImEVA1PUrMdhBCjoo2p8nv2HHy5aKg3AZtXvhU/s279/Deed-Revocation-Power-of-Attorney.webp" style="margin-left: 1em; margin-right: 1em;"><img alt="Deed-Revocation-Power-of-Attorney" border="0" data-original-height="181" data-original-width="279" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgnIb1ykvNhxo9QM0DrA_qj0h5wvIk_82VIKt3d0NZYMUz23wXs1cLTab9JsAhDVFuZXPCrwjYm1omyWXvP7LorV6wMMawqkyDexvTA8ImEVA1PUrMdhBCjoo2p8nv2HHy5aKg3AZtXvhU/s16000/Deed-Revocation-Power-of-Attorney.webp" title="Deed of Revocation of Power of Attorney" /></a><br /></p><span><a name='more'></a></span><h2 style="text-align: center;"><span style="color: red; font-family: "Times New Roman", serif;"><span style="font-size: x-large;">Deed
of Revocation of Power of Attorney</span></span></h2>
<p class="MsoNormal" style="line-height: normal; margin-bottom: 0cm; mso-layout-grid-align: none; text-align: justify; text-autospace: none;"><b><span style="font-family: "Times New Roman",serif; font-size: 14pt;">BE IT KNOWN TO ALL
CONCERNED </span></b><span style="font-family: "Times New Roman",serif; font-size: 14pt;">that
I ….., son of .........................................<o:p></o:p></span></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: 0cm; mso-layout-grid-align: none; text-align: justify; text-autospace: none;"><span style="font-family: "Times New Roman",serif; font-size: 14pt;">resident of
............ appointed Shri ……, son of .................... resident of ...............
by a power of attorney dated .................... as my lawful attorney for me,
in my name and on my behalf to do, execute and perform all acts, deeds, matters
or things mentioned therein.</span></p><p class="MsoNormal" style="line-height: normal; margin-bottom: 0cm; mso-layout-grid-align: none; text-align: justify; text-autospace: none;"><b><span style="font-family: "Times New Roman",serif; font-size: 14pt;">AND WHEREAS </span></b><span style="font-family: "Times New Roman",serif; font-size: 14pt;">for diverse causes
and reasons I deem it necessary to revoke the said power.</span></p>
<div class="separator" style="clear: both; text-align: center;">
<a href="https://www.instamojo.com/corporatelaws/deed-of-revocation-of-power-of-attorney/" rel="nofollow" target="_blank"><img border="0" height="50" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEh16UyAsRiv2rsoVw_LiFskVbkw-v04aPcFwAnl0Cy4ZJm5rXHyxxH7iSS2xhheAsDVzW_Bjtee_27p1yg98p6lCc2X3iinJxcNlYU8Yt6X2U1wIJMrFjmGGDMLpY0U56ukIoHc8Ycz7Vk/s400/WORD+FORMAT.png" width="400" /></a></div>
<p class="MsoNormal" style="line-height: normal; margin-bottom: 0cm; mso-layout-grid-align: none; text-align: justify; text-autospace: none;"><b><span style="font-family: "Times New Roman",serif; font-size: 14pt;">KNOW YE ALL MEN BY
THESE PRESENTS </span></b><span style="font-family: "Times New Roman",serif; font-size: 14pt;">that
I do hereby revoke, countermand, annul and make void all powers and authorities
thereby and thereunder given to the said attorney, either expressly or
impliedly, to all intents </span><span style="font-family: "Times New Roman", serif; font-size: 14pt;">and purposes:</span></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: 0cm; mso-layout-grid-align: none; text-align: justify; text-autospace: none;"><span style="font-family: "Times New Roman",serif; font-size: 14pt;">Provided that the
above revocation shall not render invalid or ineffective any act, deed, matter
or thing lawfully and validly done or caused to be done by the said attorney in
exercise of any of such powers or authorities before the revocation thereof by
these presents.</span></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: 0cm; mso-layout-grid-align: none; text-align: justify; text-autospace: none;"><b><span style="font-family: "Times New Roman",serif; font-size: 14pt;">IN WITNESS WHEREOF</span></b><span style="font-family: "Times New Roman",serif; font-size: 14pt;">, I the said <i>A </i>has
hereunto set and subscribed my hand this ...................... day
of.......................<o:p></o:p></span></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: 0cm; mso-layout-grid-align: none; text-autospace: none;"><br /></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: 0cm; mso-layout-grid-align: none; text-autospace: none;"><b style="mso-bidi-font-weight: normal;"><span style="font-family: "Times New Roman",serif; font-size: 14pt;">WITNESS</span></b><span style="font-family: "Times New Roman", serif; font-size: 14pt;"> </span></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: 0cm; mso-layout-grid-align: none; text-autospace: none;"><span style="font-family: "Times New Roman",serif; font-size: 14pt;">1<span style="color: black;">. …………….. </span><span style="mso-spacerun: yes;"> </span>Signed and delivered by the within
named <i><o:p></o:p></i></span></p>
<p class="MsoNormal"><span style="font-family: "Times New Roman",serif; font-size: 14pt; line-height: 115%;">2. ……………..<o:p></o:p></span></p><p class="MsoNormal"><span style="font-family: "Times New Roman",serif; font-size: 14pt; line-height: 115%;"><br /></span></p><p class="MsoNormal"><span style="font-family: "Times New Roman",serif; font-size: 14pt; line-height: 115%;"><b><span style="color: #2b00fe;">Related Post :</span></b></span></p><p class="MsoNormal"><a href="https://www.corporatelaws.in/2017/02/Power-of-Attorney-in-Favour-of-Managing-Director.html" style="font-family: "Times New Roman", serif; font-size: 14pt;" target="_blank"><b><span style="color: red;">Power of Attorney In Favour of Managing Director</span></b></a></p>CS Ashish Jainhttp://www.blogger.com/profile/00427323626525507645noreply@blogger.comUnited States37.09024 -95.7128918.780006163821156 -130.869141 65.400473836178847 -60.556641tag:blogger.com,1999:blog-5686816402528651075.post-10563998527109768792021-01-01T00:09:00.001+05:302021-01-31T23:28:02.462+05:30Company’s or Companies Meaning Correct Use & Difference<p style="text-align: center;"> <a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjX1UCj1iXIJO3GTcr1iteTwRx785-yhIPr2tJgOSJXCQf6kWjmt0ehmCt-w9eeuxQ135jZESZshnKTjeQ1caO-1nnokaGXBHPfooTddFMocZyh8evastZ4rzA7IodsK69Z-leoBpKaxZA/s240/company%2527s-or-companies-vs.webp" style="margin-left: 1em; margin-right: 1em;"><img alt="Company’s-or-Companies-Use-Difference" border="0" data-original-height="168" data-original-width="240" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjX1UCj1iXIJO3GTcr1iteTwRx785-yhIPr2tJgOSJXCQf6kWjmt0ehmCt-w9eeuxQ135jZESZshnKTjeQ1caO-1nnokaGXBHPfooTddFMocZyh8evastZ4rzA7IodsK69Z-leoBpKaxZA/s16000/company%2527s-or-companies-vs.webp" title="Company’s or Companies Meaning Correct Use & Difference" /></a></p><span><a name='more'></a></span><h1 style="clear: both; text-align: center;"><span style="font-family: "Times New Roman", serif; text-align: left;"><span style="color: red; font-size: x-large;">Company’s or
Companies Meaning Correct Use & Difference</span></span></h1><p></p><p class="MsoNormal" style="text-align: justify;"><span style="font-family: "Times New Roman", serif; font-size: 14pt;">In this article we are
going to analyze two words i.e. </span><b style="font-family: "Times New Roman", serif; font-size: 14pt;">company’s
or companies</b><span style="font-family: "Times New Roman", serif; font-size: 14pt;"> because there are lots of confusion regarding the use of these
two words as both these words come from the same word </span><b style="font-family: "Times New Roman", serif; font-size: 14pt;">company,</b><span style="font-family: "Times New Roman", serif; font-size: 14pt;"> which means a body corporate having it’s separate legal
entity and perpetual succession. The use of these words depends on the context
in which they are being used. So, now one by one we will understand when we
should use the word <b>company’s</b> and when we should use word <b>companies</b>.</span></p><div>
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<h2 style="text-align: justify;"><b><span style="font-family: "Times New Roman", serif; line-height: 115%;"><span style="color: #2b00fe; font-size: x-large;">When to use the word companies ?</span></span></b></h2>
<p class="MsoNormal" style="background: white; line-height: normal; margin-bottom: 12pt; text-align: justify;"><span style="color: #282829; font-family: "Times New Roman",serif; font-size: 14pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-IN;">The word <b>Companies</b> is plural a form of a singular word company, so whenever
you are referring to more than one company, you should use the word companies. To
give you a better understating of the use of word companies, I have provided
below some of the sentences in which word companies is used <o:p></o:p></span></p>
<p class="MsoNormal" style="background: white; line-height: normal; margin-bottom: 12pt; text-align: justify;"><span style="color: #282829; font-family: "Times New Roman",serif; font-size: 14pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-IN;">1. I have invested in multiple companies listed on NASDAQ.<o:p></o:p></span></p>
<p class="MsoNormal" style="background: white; line-height: normal; margin-bottom: 12pt; text-align: justify;"><span style="color: #282829; font-family: "Times New Roman",serif; font-size: 14pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-IN;">2. Many companies in the USA hiring new employees.<o:p></o:p></span></p>
<p class="MsoNormal" style="background: white; line-height: normal; margin-bottom: 12pt; text-align: justify;"><span style="color: #282829; font-family: "Times New Roman",serif; font-size: 14pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-IN;">3. List of top 10 blue-chip companies of Dow Jones.<o:p></o:p></span></p>
<p class="MsoNormal" style="background: white; line-height: normal; margin-bottom: 12pt; text-align: justify;"><span style="color: #282829; font-family: "Times New Roman",serif; font-size: 14pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-IN;">4. Addresses of the companies registered in the California State</span><span style="font-family: "Times New Roman",serif; font-size: 14pt;"><o:p></o:p></span></p>
<p class="MsoNormal" style="text-align: justify;"><span style="font-family: "Times New Roman",serif; font-size: 14pt; line-height: 115%;">5. There are more than 100 multinational
companies are working with Google </span></p>
<h2 style="text-align: justify;"><b><span style="font-family: "Times New Roman", serif; line-height: 115%;"><span style="color: #2b00fe; font-size: x-large;">When to use the word company’s ?</span></span></b></h2>
<p class="MsoNormal" style="text-align: justify;"><span style="font-family: times; font-size: large;"><span style="background: white; color: #282829; line-height: 115%;">The word <b>company's</b> is the possessive form of the word company. You should
use word </span><span style="color: #282829; line-height: 115%;">company's when you are referring to something which belongs
to that company. It shows the ownership of a company over something. </span><span style="color: #282829; line-height: 115%;">To give you a better understating of the use of the word company’s, I have
provided below some of the sentences in which word company’s is used</span></span><span style="font-family: "Times New Roman",serif; font-size: 14pt; line-height: 115%;"><o:p></o:p></span></p>
<p class="MsoNormal" style="background: white; line-height: normal; margin-bottom: 0cm; text-align: justify;"><span style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; color: #282829; font-family: "Times New Roman", serif; font-size: 14pt;">1. How much is
your company’s turnover?</span></p>
<p class="MsoNormal" style="background: white; line-height: normal; margin-bottom: 0cm; text-align: justify;"><span style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; color: #282829; font-family: "Times New Roman", serif; font-size: 14pt;">2. Customer satisfaction
is our company’s first preference.</span></p>
<p class="MsoNormal" style="background: white; line-height: normal; margin-bottom: 0cm; text-align: justify;"><span style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; color: #282829; font-family: "Times New Roman", serif; font-size: 14pt;">3. Employees are
very vital for the company’s growth</span></p>
<p class="MsoNormal" style="background: white; line-height: normal; margin-bottom: 0cm; text-align: justify;"><span style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; color: #282829; font-family: "Times New Roman", serif; font-size: 14pt;">4. This year company’s
earnings increased by 25 percent. </span></p>
<p class="MsoNormal" style="background: white; line-height: normal; margin-bottom: 0cm; text-align: justify;"><span style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; color: #282829; font-family: "Times New Roman", serif; font-size: 14pt;"><br /></span></p><h2 style="background: white; line-height: normal; margin-bottom: 0cm; text-align: justify;"><span style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; color: #2b00fe; font-family: "Times New Roman", serif; font-size: x-large;">What is the difference between Company's or Companies ?</span></h2><p class="MsoNormal" style="background: white; line-height: normal; margin-bottom: 0cm; text-align: justify;"><span style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; color: #282829; font-family: "Times New Roman", serif; font-size: 14pt;">I hope now
you have a complete understanding of when and how to use both the words </span><b><span style="font-family: "Times New Roman",serif; font-size: 14pt;">company’s vs companies. </span></b><span style="font-family: "Times New Roman",serif; font-size: 14pt;">Now I am providing
one example in which both of these words are used. For example,<b> </b>o<span style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; color: #282829;">ur <b>company’s</b>
salary structure is better than most of the <b>companies </b>working in the pharma industry.</span></span></p><p class="MsoNormal" style="background: white; line-height: normal; margin-bottom: 0cm; text-align: justify;"><span style="font-family: "Times New Roman",serif; font-size: 14pt;"><span style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; color: #282829;"><br /></span></span></p>
<h2 style="text-align: justify;"><b><span style="font-family: "Times New Roman", serif; line-height: 115%;"><span style="color: #2b00fe; font-size: x-large;">When to use the word companies’ ?</span></span></b></h2>
<p class="MsoNormal" style="text-align: justify;"><span style="font-family: "Times New Roman",serif; font-size: 14pt; line-height: 115%;">There is another word
<b>companies’</b> where the apostrophe is added after companies, it is also used to
express possession, but here it expresses possession of multiple companies. <span style="background: white; color: #282829;">The word </span><b>companies’ </b>is<b> </b>generally used<span style="background: white; color: #282829;"> when something belongs to more than one
company. For example </span>Companies’ revenues going down because of the recession
in the market.</span></p>
<p class="MsoNormal" style="background: white; line-height: normal; margin-bottom: 0cm; text-align: justify;"><span style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; color: #282829; font-family: "Times New Roman", serif; font-size: 14pt;"><br /></span></p><p class="MsoNormal" style="background: white; line-height: normal; margin-bottom: 0cm; text-align: justify;"><span style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; color: #282829; font-family: "Times New Roman", serif; font-size: 14pt;">In the conclusion now we know that a <b>company</b> is a singular noun,<b> companies</b> is a plural
noun, <b>company’s</b> is singular possessive noun and <b>companies’</b> is plural possessive
noun.</span></p>
<p class="MsoNormal" style="background: white; line-height: normal; margin-bottom: 0cm; text-align: justify;"><span style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; color: #282829; font-family: "Times New Roman", serif; font-size: 14pt;">I hope
after reading this article now there will be no confusion in your mind about
the use of all these words company’s vs companies vs companies’. <o:p></o:p></span></p><p class="MsoNormal" style="background: white; line-height: normal; margin-bottom: 0cm; text-align: justify;"><span style="color: #282829; font-family: Times New Roman, serif;"><span style="font-size: 18.6667px;"><br /></span></span></p><p class="MsoNormal" style="background: white; line-height: normal; margin-bottom: 0cm; text-align: justify;"><span style="color: #2b00fe; font-family: Times New Roman, serif; font-size: large;"><b>Related Posts :</b></span></p><p class="MsoNormal" style="background: white; line-height: normal; margin-bottom: 0cm; text-align: justify;"><b style="border: 0px; content: "["; font-stretch: inherit; font-variant-east-asian: inherit; font-variant-numeric: inherit; left: -0.1em; line-height: inherit; margin: 0px; padding: 0px; text-align: center; transform: translateX(-100%); transition: color 0.2s ease 0s; vertical-align: baseline;"><span style="border: 0px; font-stretch: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="font-family: times;"><a href="https://www.corporatelaws.in/2017/01/How-To-Register-Limited-Liability-Company-LLC-in-USA.html" target="_blank"><span style="color: red; font-size: large;">How To Register a Limited Liability Company (LLC) in USA</span></a></span></span></b></p><script>mbtTOC();</script>
</div>
CS Ashish Jainhttp://www.blogger.com/profile/00427323626525507645noreply@blogger.comUnited States37.09024 -95.7128918.780006163821156 -130.869141 65.400473836178847 -60.556641tag:blogger.com,1999:blog-5686816402528651075.post-61880898476495517232020-12-27T22:48:00.002+05:302021-01-17T17:48:37.902+05:30Board Resolution For Execution of Indemnity Bond<p></p><div style="text-align: center;"> <a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEh6SMNDp5EYnhqyptjIjrkeU5ieXIJrs0aw38sTWyDFYamfBkKfUaPyBvMDMOuJjm2Wm_0ABIlGI5d3ekJa-Ohd5uVa7F3x73fMrN3Pu2mFU808J3j13AsuOJxAqYImhn9gZEj21b0Iw3Q/s269/Board-resolution-execution-indemnity-bond.jpg" style="margin-left: 1em; margin-right: 1em;"><img alt="Board-resolution-execution-indemnity-bond" border="0" data-original-height="187" data-original-width="269" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEh6SMNDp5EYnhqyptjIjrkeU5ieXIJrs0aw38sTWyDFYamfBkKfUaPyBvMDMOuJjm2Wm_0ABIlGI5d3ekJa-Ohd5uVa7F3x73fMrN3Pu2mFU808J3j13AsuOJxAqYImhn9gZEj21b0Iw3Q/s16000/Board-resolution-execution-indemnity-bond.jpg" title="Board Resolution For Execution of Indemnity Bond" /></a></div><span><a name='more'></a></span><h2 style="text-align: center;"><b><span style="font-family: Times, serif; line-height: 115%;"><span style="color: red; font-size: x-large;">Board Resolution For Execution of Indemnity Bond</span></span></b></h2><p></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: 12pt; text-align: justify;"><span style="color: black; font-family: "Times",serif; font-size: 14pt;">An indemnity bond is a guarantee given by one party to another to confirm that an
agreement will be honored as promised. It is an obligation to compensate one
party financially or otherwise if the other party fails to fulfill the contract
or obligation. It is an obligation to pay someone if the obligation is not met.
They are used in a wide variety of situations. A surety offers different types
of guarantees for different transactions. Examples include tender bonds being
placed where someone is trying to get a contract, under which the contractor provides
indemnity bond in case of any default in the execution of work allotted to him it
indemnifies the other party.<o:p></o:p></span></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: 12pt; text-align: justify;"><span style="color: black; font-family: "Times",serif; font-size: 14pt;">The
companies are quite often required to execute indemnity and for this purpose, the company has to authorize someone to sign/execute the indemnity bond on behalf
of the company. So to authorize someone from the company to execute the
indemnity bond, approval of the board by way of board resolution is necessary.
For this purpose a draft format of the board resolution for the execution of indemnity
bond is provided hereunder for your ready reference. <o:p></o:p></span></p>
<div class="separator" style="clear: both; text-align: center;">
<a href="https://www.instamojo.com/corporatelaws/board-resolution-for-execution-of-indemnity-/" rel="nofollow" target="_blank"><img border="0" height="50" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEh16UyAsRiv2rsoVw_LiFskVbkw-v04aPcFwAnl0Cy4ZJm5rXHyxxH7iSS2xhheAsDVzW_Bjtee_27p1yg98p6lCc2X3iinJxcNlYU8Yt6X2U1wIJMrFjmGGDMLpY0U56ukIoHc8Ycz7Vk/s400/WORD+FORMAT.png" width="400" /></a></div>
<p class="MsoNormal" style="line-height: normal; margin-bottom: 12pt; text-align: justify;"><b style="mso-bidi-font-weight: normal;"><span style="color: black; font-family: "Times",serif; font-size: 14pt;">“RESOLVED THAT</span></b><span style="color: black; font-family: "Times",serif; font-size: 14pt;"> the draft of
the indemnity bond as placed before the board at <b style="mso-bidi-font-weight: normal;">Annexure – I</b>, to be executed in favour of M/s</span><span style="color: black; font-family: "Times",serif; font-size: 14pt; mso-themecolor: text1;">. …………. _</span><span style="color: black; font-family: "Times",serif; font-size: 14pt;">under the agreement dated ……….. , be and is hereby approved and
consent of the board be and is hereby accorded to execute the same.<o:p></o:p></span></p>
<p class="MsoNormal" style="background: white; line-height: normal; margin-bottom: 12pt; text-align: justify; vertical-align: baseline;"><b style="mso-bidi-font-weight: normal;"><span style="color: black; font-family: "Times",serif; font-size: 14pt;">“RESOLVED
FURTHER THAT</span></b><span style="color: black; font-family: "Times",serif; font-size: 14pt;"> (Name of the authorized person(s)) be and are hereby
authorized jointly / individually to sign and execute the indemnity bond (<b style="mso-bidi-font-weight: normal;">Annexure – I</b> ) in favour of M/s. ________ as
approved by the board. <o:p></o:p></span></p>
<p class="MsoNormal" style="background: white; line-height: normal; margin-bottom: 12pt; text-align: justify; vertical-align: baseline;"><span style="color: black; font-family: "Times",serif; font-size: 14pt;">“<b style="mso-bidi-font-weight: normal;">RESOLVED
FURTHER THAT</b> (Name of the authorized person(s) ) be and are
hereby jointly / individually authorized on behalf of the Company to do all such
acts, deeds and things that may be necessary, proper, expedient or incidental
for the purpose of giving effect to the aforesaid
Resolution.” <o:p></o:p></span></p>
<p class="MsoNormal" style="background: white; line-height: normal; margin-bottom: 12pt; text-align: justify; vertical-align: baseline;"><span style="color: black; font-family: "Times",serif; font-size: 14pt;">“<b style="mso-bidi-font-weight: normal;">RESOLVED
FURTHER THAT</b> all acts, deeds, things, matters, etc. as aforestated
shall be deemed to be valid and enforceable only if they are consistent with
the instant resolution as may be relevant in this case and that the Board shall
not be responsible for any acts beyond the scope of the aforestated powers done
by (Name of the authorized person(s) and such invalid, illegal acts,
and acts done beyond the scope of powers granted in this Resolution
shall not bind the Company against any third parties or before any
authorities in any manner and that the Board shall not be answerable
in that behalf.”<o:p></o:p></span></p><p class="MsoNormal" style="background: white; line-height: normal; margin-bottom: 12pt; text-align: justify; vertical-align: baseline;"></p><p class="MsoNormal" style="background: white; line-height: normal; margin-bottom: 12pt; text-align: justify; vertical-align: baseline;"><span style="color: black; font-family: "Times",serif; font-size: 14pt;">“<b style="mso-bidi-font-weight: normal;">RESOLVED
FURTHER THAT</b> the aforesaid power entrusted to the said official shall
be valid and effective unless revoked earlier by the Board or shall be
exercisable by him so long as he is in the services of the Company.” <o:p></o:p></span></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: 12pt; text-align: justify;"><span style="color: black; font-family: "Times",serif; font-size: 14pt;">The
above draft Board Resolution For Execution of Indemnity Bond is only for <span style="-webkit-text-stroke-width: 0px; font-variant-caps: normal; font-variant-ligatures: normal; orphans: 2; text-decoration-color: initial; text-decoration-style: initial; text-decoration-thickness: initial; widows: 2; word-spacing: 0px;">reference purposes make sure to incorporate necessary changes as per your requirements
before using this draft format.<o:p></o:p></span></span></p><p class="MsoNormal" style="line-height: normal; margin-bottom: 12pt; text-align: justify;"><span style="font-family: Times, serif;"><span style="font-size: 18.6667px;"><br /></span></span></p><p class="MsoNormal" style="line-height: normal; margin-bottom: 12pt; text-align: justify;"><span style="font-family: Times, serif;"><span style="color: #2b00fe; font-size: 18.6667px;"><b>Related Posts :</b></span></span></p><p class="MsoNormal" style="line-height: normal; margin-bottom: 12pt; text-align: justify;"><b style="font-family: Times, serif; font-size: 18.6667px;"><a href="http://www.corporatelaws.in/2017/03/Board-Resolution-Providing-Corporate-Guarantee.html" target="_blank"><span style="color: red;">Board Resolution For Providing Corporate Guarantee</span></a></b></p><span style="color: black; font-family: "Times",serif; font-size: 14pt;"></span><p></p>CS Ashish Jainhttp://www.blogger.com/profile/00427323626525507645noreply@blogger.comtag:blogger.com,1999:blog-5686816402528651075.post-64469021504125150282020-12-16T00:23:00.006+05:302021-01-17T18:09:15.931+05:30Agreement Modifying The Partnership Deed<p style="text-align: center;"></p><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgYzIVEmjrAZLJTxdEp7214qoyL7l10OjGECR99aeGVtRshsK4x997HO26takP87pQmiRjYQATWtBUA9HtNxnHVdfFGveDvBNAue9s62LNYR-eihUNrj7gOeHn7dQ0HS1C_zoPYSwi0We8/s303/Agreement-Modifying-Partnership-Deed.jpg" style="margin-left: 1em; margin-right: 1em;"><img alt="Agreement-Modifying-Partnership-Deed" border="0" data-original-height="166" data-original-width="303" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgYzIVEmjrAZLJTxdEp7214qoyL7l10OjGECR99aeGVtRshsK4x997HO26takP87pQmiRjYQATWtBUA9HtNxnHVdfFGveDvBNAue9s62LNYR-eihUNrj7gOeHn7dQ0HS1C_zoPYSwi0We8/s16000/Agreement-Modifying-Partnership-Deed.jpg" title="Agreement Modifying The Partnership Deed" /></a></div><span><a name='more'></a></span><h2 style="clear: both; text-align: center;"><b style="color: red; font-family: Arial, sans-serif; font-size: x-large;">Agreement Modifying The Partnership Deed</b></h2><p></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: 12.0pt; margin-left: 0in; margin-right: 22.0pt; margin-top: 0in; margin: 0in 22pt 12pt 0in; text-align: justify;"><b style="mso-bidi-font-weight: normal;"><span face=""Arial","sans-serif"" style="font-size: 13pt;">THIS DEED</span></b><span face=""Arial","sans-serif"" style="font-size: 13pt;"> was executed on ................ on this
.................. day ......... ...., 20 ..., among, ………… S/o ……………… R/o .......................
of the ONE PART and …………., S/o ................... R/o ................... OF
THE SECOND PART and ......…….., S/o ……. R/o ………. Of the THIRD PART.<o:p></o:p></span></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: 12.0pt; margin-left: 0in; margin-right: 22.0pt; margin-top: 0in; margin: 0in 22pt 12pt 0in; text-align: justify;"><b style="mso-bidi-font-weight: normal;"><span face=""Arial","sans-serif"" style="font-size: 13pt;">WHEREAS</span></b><span face=""Arial","sans-serif"" style="font-size: 13pt;"> the parties to this Agreement conduct their
business under the name and style of M/s.
......................................... in .............. under the terms and
conditions contained in the Partnership Agreement dated ……….<o:p></o:p></span></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: 12.0pt; margin-left: 0in; margin-right: 22.0pt; margin-top: 0in; margin: 0in 22pt 12pt 0in; text-align: justify;"><b style="mso-bidi-font-weight: normal;"><span face=""Arial","sans-serif"" style="font-size: 13pt;">AND WHEREAS</span></b><span face=""Arial","sans-serif"" style="font-size: 13pt;"> clause .................. of the said
partnership agreement stipulates that all partners will devote all their time
and attention to the partnership business;<o:p></o:p></span></p>
<div class="separator" style="clear: both; text-align: center;">
<a href="https://www.instamojo.com/corporatelaws/agreement-modifying-the-partnership-deed/" rel="nofollow" target="_blank"><img border="0" height="50" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEh16UyAsRiv2rsoVw_LiFskVbkw-v04aPcFwAnl0Cy4ZJm5rXHyxxH7iSS2xhheAsDVzW_Bjtee_27p1yg98p6lCc2X3iinJxcNlYU8Yt6X2U1wIJMrFjmGGDMLpY0U56ukIoHc8Ycz7Vk/s400/WORD+FORMAT.png" width="400" /></a></div>
<p class="MsoNormal" style="line-height: normal; margin-bottom: 12.0pt; margin-left: 0in; margin-right: 22.0pt; margin-top: 0in; margin: 0in 22pt 12pt 0in; text-align: justify;"><b style="mso-bidi-font-weight: normal;"><span face=""Arial","sans-serif"" style="font-size: 13pt;">AND WHEREAS</span></b><span face=""Arial","sans-serif"" style="font-size: 13pt;"> clause ...................... of the said
partnership agreement also provides that no partner can, without the consent of
other partners, directly or indirectly participate in any business except for
partnership business;<o:p></o:p></span></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: 12.0pt; margin-left: 0in; margin-right: 22.0pt; margin-top: 0in; margin: 0in 22pt 12pt 0in; text-align: justify;"><b style="mso-bidi-font-weight: normal;"><span face=""Arial","sans-serif"" style="font-size: 13pt;">AND WHEREAS</span></b><span face=""Arial","sans-serif"" style="font-size: 13pt;"> …………, one of the partners was offered an
assignment from ................................ which will be completed in …….
years, and during this period the designated partner has to stay at ………… <span style="mso-spacerun: yes;"> </span>for completing his assignment;<o:p></o:p></span></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: 12.0pt; margin-left: 0in; margin-right: 22.0pt; margin-top: 0in; margin: 0in 22pt 12pt 0in; text-align: justify;"><b style="mso-bidi-font-weight: normal;"><span face=""Arial","sans-serif"" style="font-size: 13pt;">AND WHEREAS</span></b><span face=""Arial","sans-serif"" style="font-size: 13pt;"> the partner has requested the consent of
other partners to accept the task proposed to him, and other partners have
agreed to accord their consent for the acceptance of the assignment and it was
agreed that during the period he remains outside for the assignment, the partnership agreement must be changed in the manner and within the limits specified
as below:<o:p></o:p></span></p>
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<p class="MsoBodyText" style="margin-right: 22pt;"><b style="mso-bidi-font-weight: normal;"><span face=""Arial","sans-serif"" style="font-size: 13pt; mso-fareast-font-family: Calibri;">NOW THIS DEED WITNESSETH AS FOLLOWS:</span></b></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: 12.0pt; margin-left: .25in; margin-right: 22.0pt; margin-top: 0in; margin: 0in 22pt 12pt 0.25in; text-align: justify; text-indent: -0.25in;"><span face=""Arial","sans-serif"" style="font-size: 13pt;">1. This
Agreement is a supplemental to the Partnership Agreement dated ……… <span style="mso-spacerun: yes;"> </span>executed among the said partners.<o:p></o:p></span></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: 12.0pt; margin-left: .25in; margin-right: 22.0pt; margin-top: 0in; margin: 0in 22pt 12pt 0.25in; text-align: justify; text-indent: -0.25in;"><span face=""Arial","sans-serif"" style="font-size: 13pt;">2. During the period in which said partner is outside
he shall only be entitled to … % share in the profit instead of …% and his balance
share in the profit shall be distributed between the other two partners in equal
proportions. <o:p></o:p></span></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: 12.0pt; margin-left: .25in; margin-right: 22.0pt; margin-top: 0in; margin: 0in 22pt 12pt 0.25in; text-align: justify; text-indent: -0.25in;"><span face=""Arial","sans-serif"" style="font-size: 13pt;">3. The said partner is not obliged to report to
the partnership for any remuneration or other advances received by him from for
the assignment.<o:p></o:p></span></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: 12.0pt; margin-left: .25in; margin-right: 22.0pt; margin-top: 0in; margin: 0in 22pt 12pt 0.25in; text-align: justify; text-indent: -0.25in;"><span face=""Arial","sans-serif"" style="font-size: 13pt;">4. The
said partner shall not be entitled to receive any remuneration from the partnership
account during his absence for which he is otherwise entitled as per the clause
…<span style="mso-spacerun: yes;"> </span>of Partnership Agreement dated ……<o:p></o:p></span></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: 12.0pt; margin-left: .25in; margin-right: 22.0pt; margin-top: 0in; margin: 0in 22pt 12pt 0.25in; text-align: justify; text-indent: -0.25in;"><span face=""Arial","sans-serif"" style="font-size: 13pt;">5. All other terms and conditions of the
Partnership Agreement shall remain in full force and effect, except those are
modified here by this supplemental agreement.<o:p></o:p></span></p>
<p class="MsoNormal" style="line-height: normal; margin-bottom: 12.0pt; margin-left: 0in; margin-right: 22.0pt; margin-top: 0in; margin: 0in 22pt 12pt 0in; text-align: justify;"><b style="mso-bidi-font-weight: normal;"><span face=""Arial","sans-serif"" style="font-size: 13pt;">IN WITNESS WHEREOF</span></b><span face=""Arial","sans-serif"" style="font-size: 13pt;">, the parties have attached and signed their
hands on the date and year indicated above<o:p></o:p></span></p><p class="MsoNormal" style="line-height: normal; margin-bottom: 12.0pt; margin-left: 0in; margin-right: 22.0pt; margin-top: 0in; margin: 0in 22pt 12pt 0in; text-align: justify;"><span face=""Arial","sans-serif"" style="font-size: 13pt;">Partner 1</span></p><p class="MsoNormal" style="line-height: normal; margin-bottom: 12.0pt; margin-left: 0in; margin-right: 22.0pt; margin-top: 0in; margin: 0in 22pt 12pt 0in; text-align: justify;"><span face=""Arial","sans-serif"" style="font-size: 13pt;">Partner 2</span></p><p class="MsoNormal" style="line-height: normal; margin-bottom: 12.0pt; margin-left: 0in; margin-right: 22.0pt; margin-top: 0in; margin: 0in 22pt 12pt 0in; text-align: justify;"><span face=""Arial","sans-serif"" style="font-size: 13pt;">Partner 3</span></p><p class="MsoNormal" style="line-height: normal; margin-bottom: 12.0pt; margin-left: 0in; margin-right: 22.0pt; margin-top: 0in; margin: 0in 22pt 12pt 0in; text-align: justify;"><span face=""Arial","sans-serif"" style="font-size: 13pt;">Witnesses :</span></p><p class="MsoNormal" style="line-height: normal; margin-bottom: 12.0pt; margin-left: 0in; margin-right: 22.0pt; margin-top: 0in; margin: 0in 22pt 12pt 0in; text-align: justify;"><span face=""Arial","sans-serif"" style="font-size: 13pt;">1.</span></p><p class="MsoNormal" style="line-height: normal; margin-bottom: 12.0pt; margin-left: 0in; margin-right: 22.0pt; margin-top: 0in; margin: 0in 22pt 12pt 0in; text-align: justify;"><span face=""Arial","sans-serif"" style="font-size: 13pt;">2.</span></p><p class="MsoNormal" style="line-height: normal; margin-bottom: 12.0pt; margin-left: 0in; margin-right: 22.0pt; margin-top: 0in; margin: 0in 22pt 12pt 0in; text-align: justify;"><span face=""Arial","sans-serif""><b><span style="font-family: times; font-size: medium;">The above draft of </span></b></span><span style="text-align: left;"><span style="font-family: times; font-size: medium;"><b>Agreement Modifying The Partnership Deed is only for reference purposes kindly make necessary changes as per your requirement.</b></span></span></p><p class="MsoNormal" style="line-height: normal; margin-bottom: 12.0pt; margin-left: 0in; margin-right: 22.0pt; margin-top: 0in; margin: 0in 22pt 12pt 0in; text-align: justify;"><b><span style="color: #2b00fe; font-family: times; font-size: large;">Related Posts :</span></b></p><p class="MsoNormal" style="line-height: normal; margin-bottom: 12.0pt; margin-left: 0in; margin-right: 22.0pt; margin-top: 0in; margin: 0in 22pt 12pt 0in; text-align: justify;"><b style="font-family: times; font-size: large;"><a href="http://www.corporatelaws.in/2020/07/format-partnership-deed-agreement.html" target="_blank"><span style="color: red;">Format of Partnership Deed Agreement</span></a></b></p><p class="MsoNormal" style="line-height: normal; margin-bottom: 12.0pt; margin-left: 0in; margin-right: 22.0pt; margin-top: 0in; margin: 0in 22pt 12pt 0in; text-align: justify;"><b style="font-family: times; font-size: large;"><a href="http://www.corporatelaws.in/2020/10/Agreement-Deed-Convert-Partnership-Firm-Into-Limited-Company.html" target="_blank"><span style="color: red;">Specimen Formation Agreement Deed To Convert Partnership Firm Into a Limited Company</span></a></b></p>CS Ashish Jainhttp://www.blogger.com/profile/00427323626525507645noreply@blogger.com