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A Nidhi company Business Plan is required to hold 10% of total deposits collected in any nationalised bank as a fixed deposit each month. A Nidhi company Business Plan may close a branch only if it has issued an advertisement in a vernacular language newspaper in the area where it conducts business at least 30 days prior to the closure, alerting the public about the closure. Fixed deposit arrangements implemented by a mutual benefit company or a Nidhi business must be for a minimum of six months and a maximum of sixty months.  In the event of recurrent deposits, the minimum duration is 12 months and the maximum length is sixty months. A Nidhi corporation registration might take about two months from the day the application is filed. This corporation cannot issue dividends in excess of 25% or any greater amount permitted by the Regional Director. No Nidhi may appoint or re-appoint an auditor for more than one term of five years in a row. The rate of interest imposed on any loan m...

Why Core Investment Company in the News The Reserve Bank of India (RBI) organised a working group that proposed steps to improve Core Investment Companies (CIC). Tapan Ray, the former Corporate Affairs Secretary, leads the organisation.     Core Investment Company ·         Core Investment Company (CICs) are a subset of Non-Banking Financial Institutions (NBFCs). ·         A Core Investment Company registered with the RBI has more than Rs 100 crore in assets. ·         Their primary activity is the purchase of shares and securities under particular conditions. o    For example, these should not invest less than 90% of their net assets in group firms in the form of equity shares, preference shares, bonds, debentures, debt, or loans. o    A group company is an arrangement involving two or more entities that are related to each other thro...

Financial creditors under IBC and operation creditors differ in that their liabilities stem from various sources. Where a financial creditor under IBC is obligated according to a contract, such as a loan or debt, and an operational creditor is obligated due to operational activities. The new insolvency and bankruptcy law in India, the Insolvency and Bankruptcy Code, 2016, caused a significant deal of doubt over a complainant's eligibility to commence a corporate insolvency resolution procedure. It is primarily determined by the law's requirement that a complaint is a " financial creditor under IBC " or "operational creditor."   Homebuyers are currently caught in a Catch-22 position due to interpreting many new terminologies employed in the legislation. As a result, the applicability of financial and operational creditors to a homebuyer and a commercial real estate purchaser has been addressed in this article.   Financial creditors under IBC are de...

Eligible enterprises can be recognised as Startups by Dpiit startup registration under the Startup India initiative, gaining access to a variety of tax incentives, simplified compliance, IPR fast-tracking, and more. Read on to learn more about eligibility and perks. The Government of India's flagship programme, the Startup India Scheme, was introduced in 2016. Via this effort, the government hopes to empower startups to develop through innovation and design. Startup India's mission is to produce and innovate goods and services while also boosting jobs in India. Eligible enterprises can be classified as Startups by the Department for Promotion of Industry and Internal Trade ( Dpiit startup registration ) to have access to a variety of tax perks, simpler compliance, IPR fast-tracking, and other benefits under the Startup India initiative. The Department for Promotion of Industry and Internal Trade ( Dpiit startup registration ) is in charge of coordinating the Startup India in...

Who requires NBFC DSA Registration in India? A non-banking financial company is an NBFC. DSA refers to someone who operates as a referral agent for such a corporation or bank (direct selling agent). The major role of an agent is to create leads and bring in new clients for banks and NBFCs. When a consumer takes out a loan using the agent's referral, the agent earns money. Working as a business loan DSA in Delhi, Bangalore, or Hyderabad may payout handsomely and consistently. Continue reading for more information on how to become an NBFC DSA loan agent. But first, what exactly is a DSA agent and what is an NBFC?   What is NBFC DSA Registration? Non-banking financial institutions or enterprises do not have a financial licence given by regulatory organisations such as the RBI, yet they provide a variety of banking services. They are not permitted to take public demand deposits like savings accounts, fixed deposits, and so on. NBFCs are mostly involved in financial activities i...

Today's topic is the invest in India or Startup India certificate Registration Process for Indian Businesses. Recently, the Government of India clarified the definition of a startup and specified the legal structure and type of firm that is eligible for the initiative.   Startup India “Startup Definition” and Invest In India opportunity 1.    A startup will be defined as any legal entity. 2.    Up to five years from the incorporation date. 3.    If its annual revenue has not exceeded 25 crores in the previous five years. 4.    Its goal is to use technology or intellectual property to promote innovation, development, deployment, and commercialization of new goods, processes, or services.   Points to be remembered about Invest in India :- If a company, organisation, or business is registered under the Companies Act of 2013, it is considered a start-up. It is registered as a partnership firm under Section 59 ...

GST registration is an online process that must be completed on the government's website, gst.gov.in. Every dealer with an annual turnover of more than Rs.20 lakh (Rs.40 lakh or Rs.10 lakh, depending on the state and kind of goods) must register for GST. Here is a GST Registration process  Step by step procedure online–   Steps to fill up Part-A: GST Registration process   Step by step Step 1: Go to the GST website. Select Services. After that, go to the 'Registration' menu and select 'New Registration.' Step 2 – In Part A, fill in the following information. ·         Choose the radio button for New Registration. ·         Select Taxpayer from the 'I am a drop-down menu. ·         Enter the company's name and PAN, as well as the email address and phone number. The OTPs will be sent to the registered email address and cellphone number. ·   ...

One of the most widely advised ways to establish a business in India is to form a private limited company. Directors and stockholders may be different in private limited Company registration. In India, MUDS, your trusted legal adviser, offers a low-cost business registration service. You can find out how to register your company here. We take care of all legal paperwork and comply with all Ministry of Corporate Affairs requirements. You will obtain a Certificate of Incorporation (CoI), as well as your PAN and TAN after the business registration procedure has been approved. You may now create a current bank account and start running your business. Benefits of Company Registration There are several advantages to forming a business. A registered business adds legitimacy to your operation. It benefits your company because: ·   Increase your consumer base. ·   Protects your company's assets by providing liability protection. ·   Increased capital contribution and s...