Revival of Struck off companies under Companies Act 2013

Procedure for Revival/ Restoration of Struck off Companies under section 248 of the Companies Act (the Act) 2013 through NCLT, 2017.

Greetings of the day

Before moving to the procedure for revival of companies one must note some basic requirements for such revival

Who Can File Application For Restoration Of Names?
1. Any person aggrieved by order under section 248,

2. Registrar of Company himself

3. by Company

4. by member

5. by creditor

6. by workmen

Time limit for filing appeal

any person aggrieved by the order of the Registrar under section 248 may within 2 years from the date of order file An appeal to National Company Law Tribunal (Tribunal) (In form NCLT-9) for the restoration of Name of Company in the Register of Companies.

Time limit for filing application

A company/member/creditor/workmen can also file application Feels aggrieved by company to Tribunal for restoration of name of the Company (In form NCLT-9) Within 20 years from the publication of the order in the official Gazette.

Grounds on which application can be filed

An application so made will be accepted, if the Tribunal is satisfied that the company was, at the time of its name being struck off, carrying on business or in operation or otherwise it is just that the name of the company is restored to the register of companies. If satisfied, the Tribunal may pass the order for restoration of the name of the company.

Appointment of authorized representative

Every party may appear before a Tribunal in person or through an authorized representative,duly authorized in writing in this behalf. The Authorized Representatives shall make an appearance through the filing of Memorandum of Appearance or a power of attorney in Form No. NCT. 12 representing the respective parties to the proceedings. In case of legal practioner/ advocate, he may make appearance by filing Vakalatnama. Authorized reprenstative means an Advocate or a Company Secretary in practice or a Chartered Accountant in practice or Cost Accountant in practice.

Legal Reasons for Revival/Restrotation –

·   even if company strike off by the registrar, directors turn out to be disqualifying for appointment and appropriate action against the director can be taken.

·   if a director disqualifies then his office as director in all the companies simultaneously vacant

·   if a director fails to comply with his duties then he is liable for penalty u/s 166(7) i.e. 'fine which shall not be less than one lakh rupees but whichmay extend to five lakh rupees.

General Reasons for Revival/Restrotation

1.   Companies are actually in operation and are earning good turnover.

2.   Companies were not aware of the Companies Act provisions (relating to filing of account with ROC) applicable on them.

3.   Due to non receiving of notice issued by the Registrar.

4.   Due to lapse of respond 30 days time.

5.   Due to non submission of reply of Show Cause notice and directly engaged in completing the pending filings.

6.   Due to objection of Creditors/members of the Company.

7.   Due to attraction of disqualification and to remove the disqualification.

8.   Due to actions which could be taken against directors of the company.

General Procedure for revival/restoration of company.

Step-1: Draft an Appeal/Application in Form NCLT- 9.

Step-2: Appeal or Application shall be verified by an affidavit in form NCLT-6

Step-3: Every Party may appear before tribunal in person or through authorized representative, appearance through Memorandum of Appearance in Form NCLT-12

Step-4: Get all Documents arranged in proper manner and get all affidavits properly notarised from a public Notary. Appeal should be with a proper cover letter along with a declaration through Directors that all pending Annual Filing shall be completed within stipulated time as per the directions of the NCLT.

Step-5: Make a demand draft of Rs. 2,500/- (In Favour of Pay and Accounts Officer, Ministry of Corporate Affairs)

Step-6: Serve an advance copy of the appeal or application to the concerned RoC (Speed Post + Physical Submission through a covering letter as well) 14 days before date of hearing

Step-7: Submit the Original Appeal or application along with proof of service to the concerned RoC with NCLT along with demand draft and all the supporting documents/affidavits etc.

Step-8: Notice to be issued by the tribunal to the opposite party shall be in Form NCLT-5

Step-9: Get the matter listed in the concerned court and appear before tribunal in person or through authorized representative for which MOA has been filed for the matter listed in your appeal/application.

Step-10: Issue of Directions by Tribunal to parties

Step-11: If the tribunal got satisfied with you he may pass the Order for revival/restoration.

Step-12: Certified Copy of order so passed by the Tribunal must be filed in form INC-28 with the Registrar within 30 days from the date of the order.

Step-13: On receipt of the order, the Registrar is required to cause the name of the company to be restored to the register of companies and issue a fresh certificate of incorporation. Concerned RoC shall publish the order in Official Gazzette.

Step-14: The Company to comply with pending filing of financial statements and annual returns with Registrar complying with Companies Act, 2013 and rules thereof.

Step-15: Any Restoration costs to be paid to the registrar by appellant or applicant unless the Tribunal directs otherwise.

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Hope this is article will help you or your clients and clarified the conceptual and procedural Part.

DISCLAIMER: The entire contents have been developed on the basis of relevant information and are purely the views of the authors. Though the authors have made utmost efforts to provide authentic information however, the authors expressly disclaim all or any liability to any person who has read this document, or otherwise, in respect of anything, and of consequences of anything done, or omitted to be done by any such person in reliance upon the contents of this document. Reader should seek appropriate counsel for their own situation. I shall not be held liable for any of the consequences directly or indirectly.

Any other suggestions /opinions are welcomed.

Call : CS Megha Sharan - 9717712008, 01165648006.

Online Sale on Flipkart

ONLINE SALE ON FLIPKART :

Pre Requisites for Selling on flipkart:

To start selling, you need to have the following:

PAN Card

GST Number (not mandatory for books)

Bank account and supporting directors KYC documents (Address Proof and Cancelled cheque)

Atleast 10 unique products to sell

Steps to sell on Flipkart:

Register yourself at seller flipkart.com.

List your products (means filling out all the necessary information and adding images of the product so that a customer can make an informed buying decision) under specific product categories including product details such as size, model, color, etc.

Once an order is received, pack the product and mark it as ‘Ready to Dispatch’. Our logistics partner will pick up the product and deliver it to the customer.

Once an order is successfully dispatched, Flipkart will make payment to your account within 7-14 business days of dispatching an order through NEFT transactions.

Fees:

Once an order is successfully delivered, the following deductions are made from the order item value:

Commission fee: It would be a percentage of the order item value which will vary product to product.

Shipping fee: It will be calculated on the basis of the product weight and shipping location.

Collection fee:5% of [Flipkart Selling Price + Shipping Charge to Buyer] or Rs. 20, whichever is higher.

Fixed fee: It is a slab wise fixed fee. It varies from product to product.

Service tax: It will be applicable on all of the aforesaid components.

Manage your orders on Flipkart:

Whenever an order is placed by customer, we will send you an e-mail alert. You need to pack the order and keep it ready for dispatch within the time frame provided by you and inform us through the seller portal. This will alert our logistics partner to pick up the product from you.

Protection Against Fraud:

Flipkart has set up a Seller Protection Fund (SPF) to protect our sellers against fraud. You can request for SPF claim through the seller dashboard. When the buyer or logistics partner defaults, you will receive due compensation.

Benefits of selling at flipkart:

Cataloging: Your products will be displayed through your catalogs with best and most accurate descriptions along with images that will attract customers.

Easy Pick-up & Delivery: With the help of flipkart logistics partner smooth pick up & delivery of your products can be assured.

Faster Payments: Once an order is successfully dispatched, Flipkart will make payment to your account within 7-14 business days of dispatching an order through NEFT transactions.

Growth Capital: Our Trusted Partners can financially assist your business that will help to build your brand.

Training: Training is imparted to list your products and to fulfill orders completely.

Smart Fulfillment: It provides due checking of quality of products and packaging facility that will delight the customers to buy the products listed.

Sale on Snapdeal

Sale on Snapdeal :

BEFORE SELLING ON SNAPDEAL ALL YOU NEED IS:

New GST Registration

PAN Card

Current Account Number of Proprietorship firm registration

BEFORE SELLING ON SNAPDEAL YOU NEED TO MEET THE FOLLOWING CRITERIA:

You should be authorized to sell in India.You can only sell new and genuine products through Snapdeal.

STEPS TO SELL AT SNAPDEAL:

Registration: Registration at snapdeal is totally free of cost. You can register yourself as a seller at snapdeal with few easy steps by only providing GST Registration, PAN Card and Current Account Number.

Listing of Products: Further after registration you need to list your products at snapdeal through product catalogue. For the design and presentation of catalogue you may take the help of snapdeal advisors and professional service providers of snapdeal so that a large number of customers can be attracted towards your products.

Receiving orders & selling it: Once you have listed your products and attained orders from customers you can sell it through the line seller panel and seller zone mobile app of snapdeal.

Shipping of products: Once order is received pack the goods, pickup and delivery facility will be provided by courier partners of snapdeal. Along with this snapdeal also takes care of inventory storage and packaging.

Receive Payment: Once your orders are fulfilled, payment will be made to your account by snapdeal. Payments are credited directly into the Current Account of Sellers through NEFT. The Initial Payment cycle on which snapdeal sign up is (7+10) delivery basis wherein there are 4 payment cycles within a month. Basis the seller’s performance in terms of Revenue generated in a month, the payment cycle can be further lowered down for the consecutive months.

Grow your business: With a long chain of customers your business can grow expediently. You can also expand your business with easy funding at snapdeal. Loan approval within minutes, disbursal within 72 hours without any guarantors or collateral.

BENEFITS OF SELLING AT SNAPDEAL:

24*7 Service: You can sell your products 24*7 with snapdeal. Online shoppers can shop anytime from anywhere.

Promotions and marketing support: Snapdeal provides you promotions & marketing support through which your products can reach to a large number of customers and can attract them to buy.

Professional Advice: Expert team of snapdeal will assist you at every step to grow and expand your business online. They caters varieties of professional services like photo-shoots, catalogue development etc.

Easy Pick-up & Delivery: With the help of largest logistics network of snapdeal, smooth pick up & delivery across 6000+ cities & towns of your products can be assured.

Complete Visibility & Transparency: Get complete information of all your transactions by snapdeal, you can achieve complete visibility & transparency for all aspects of your business through snapdeal.

FEES:

Snapdeal charges only a small commission for what you sell which will be completely shared & agreed with you at the time of registration.

MANAGE YOUR ORDER:

Snapdeal offers a seller dashboard and mobile app to operate your seller front. You can manage the orders through the “Manage Orders” tab in the seller panel. Once you receive an order you need to pack the ordered goods in the Snapdeal provided packaging material and keep it ready for pick up & dispatch for snapdeal logistics partners.

Service Tax Registration

Every person (includes Any individual, HUF, proprietary firm or partnership firm, company, institution, trust registration, society registration) who has provided a taxable service on receipt of service fees of value exceeding Rs. 9 lakhs in the preceding financial year, is required to register with the Central Excise or Service Tax office having jurisdiction over the premises or office of such person.

Any individual, HUF, proprietary firm or partnership firm, company, institution, trust, society who provides the taxable service on receipt of service fees is responsible for paying the Service Tax to the Government.

When a person started a business of providing a taxable service, he is required to register himself within 30 days of such commencement of business.

The Service Tax Code/Registration number is generated based on the PAN issued by the Income Tax Department to Person who want for registration under service tax. The PAN based Service Tax Code/Registration number is a must for payment of service tax using the G.A.R. 7 Form.

Registration is necessary to deposit service tax, file returns and undertake various processes ordained by law relating to service tax. Failure to obtain registration would attract penalty.

The GST Registration (ST-2) should be surrendered immediately to the Superintendent of Central Excise in case of cessation of business of providing taxable service.

You can Call Ezzus India Private Limited on 9650082009

Drug License required in Delhi

INRODUCTION:

Drug License is issued by the Drag Department of Delhi in field of retail, wholesale and manufacturing of Drugs and Cosmetics products. The Drag Department, Delhi has authorization given for doing business in the field of Drugs and Cosmetics Products.

DOCUMENTS REQUIRED FOR DRUG LICENSE:

1. Self attested Copy of PAN Cardof all the Proposed Directors/Partners/Proprietor.
2. Self attested Copy of ADDRESS PROOFof all the Proposed Directors / Partners/ Proprietor.
3. Passport Size Photographs of all the Proposed Directors/Partners/Proprietor.
4. Duly signed Affidavits as required by the Department.
5. Copy of Current Electricity Bill / Water Bill / House TaxEtc for The     Premises Proposed to be Used.
6. If the Property is Rented, then Rent Agreement.
7. Copy of Certificate of Registered pharmacist with Delhi Pharmacy Council in case of sale of Drugs as Retailer.
8. Copy of Experience Certificate by a Registered Chemist/Pharmacist in case of sale of Drugs as Wholesaler.
9. Certificate of Incorporation/MOA/AOA in case of company or Partnership deed and list of partners in case of Partnership firm.

FEES:
Fees for Sale of the Drugs as Retailer & Wholesaler – Check Drug License Fees
TIME DURATION:
35-45 days in case of drug license for sale of drugs and
90-120 days in case of drug license for manufacturing after receipt of all the necessary Documents,
The breakup of the Number of days is as follows

Activity	Days
Preparation of Document such as Affidavits etc	2 Days
Filling of Documents with Authorities	1 Day
Department takes time for issue License	30 Days
Getting Final Drug License	7 Days
Total Number of Days	40 Days

PROCESS :

1. Documents Preparation.
2. Signing of Documents.
3. File Application Form with Department.
4. Proper file physically submitted with department.
5. Inspection of Premises by Inspectors of Department.
6. License issued by department on ground of full Satisfaction.

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Process of applying IEC Code for Proprietorship Firm

IEC ONLINE

IMPORT EXPORT CODE (IEC)-

IEC CODE Stands for IMPORT EXPORT CODE NUMBER. It is a Firm/Individual Pan number after approval. No export or import shall be made by any person or company without an Import Export Code (IEC CODE) number unless specifically exempted. PAN Card is mandatory to issue Import Export Code number to the applicant for trade outside India.

Import Export Registration :  Rs. 500(Gov. Fees) + Rs. 1500 + GST 18%  [ Total : Rs.2270 ]

ADVANTAGE

ADVANTAGE OF ONLINE IEC APPLICATION :

1. Fast Approval

2. Easy Process and less documents required.

DOCUMENTS REQUIRED

DOCUMENTS REQUIRED FOR IEC CODE ONLINE–

IN CASE OF PROPRIETORSHIP FIRM REGISTRATION

1. Self-attested Copy of Pan Card
2. A Photograph
3. A cancelled cheque of Firm.
4. Mobile Number and E-mail ID of proprietor
5. Self-attested Copy of Address Proof of Applicant (Adhaar Card/Electricity Bill/ Mobile Bill)

IN CASE OF PARTNERSHIP FIRM REGISTARTION

1.         Pan Card of partnership firm

2.       A cancelled cheque of Firm

3.       Address Proof of the Applicant Firm (Electricity Bill/ Mobile Bill)

4.       Partnership Deed

5.       List of Partners

6.       Mobile Number and E-mail ID of Partners

7.       A Photograph of applicant

8.       Self-attested Copy of Pan cards of Partners

9.       Self-attested Copy of Address proofs of Partners

IN CASE OF PRIVATE LIMITED COMPANY REGISTRATION :

1.         Copy of Pan Card of Company

2.       A cancelled cheque of Private Company

3.       COI

4.       MOA & AOA

5.       List of Directors

6.       Mobile Number and E-mail ID of Directors

7.       Self-attested Copy of Pan cards of Directors

8.       Self-attested Copy of Address proofs of Directors

9.       A Photograph of Applicant

How do you start a new business in india?

How do you start a new business in India?

Are you confused in choosing suitable business structure? As per your business requirement, you can shoot below categorized formation model:

LLp REGISTRATION Limited Liability Partnership(LLP) is defined as partnership and registered under Limited Liability Partnership(llp) Act in the office of Registrar of Companies (ROC), India. LLP Registration is an alternative corporate business form that gives the benefits of limited liability of a company and the flexibility of a partners. The LLP can continue its existence irrespective of changes in partners. It is capable of entering into contracts and holding property in its own name. The LLP Firm is a separate legal entity, is liable to the full extent of its assets but liability of the partners is limited to their agreed contribution in the LLP. Further, no partner is liable on account of the independent or un-authorized actions of other partners, thus individual partners are shielded from joint liability created by another partner’s wrongful business decisions or misconduct.

Company Registration is the most common and suitable form of entity for carrying out business in India with a long term objective. Pvt Ltd Company Registration is Incorporated and Governed by the Indian Companies Act 2013. Company Formation is a Purely Separate Legal entity distinct from its members and directors. The business under this structure can be done by making investment through the equity shares in the Company. It has the advantage of limited liability, greater stability and recognition. The Basic Requirement for a in Company Incorporation is to have Minimum Two Directors and Two Shareholders.

·         These are closely held businesses usually by family, friends and relatives.

·         Private companies may issue stock and have shareholders Their shares need not be traded on public exchanges and are not required to be issued through an initial public offering.

·         Shareholders may not be able sell their shares without the agreement of the other agreement of the other.

ADVANTAGE

ADVANTAGES OF PRIVATE LIMITED COMPANY REGISTRATION

NGO :

SECTION 8 COMPANY REGISTRATION

( NGO Registration )

• The concept of non-profit making company is quite old in India. In erstwhile Companies Act, 1956 it was regulated by Section 25 and that is why it was popular as Section 25 Company. However in Companies Act 2013 provisions related to non-profit making company are given in Section 8 read with Rule 19 and 20 of Companies (Incorporation) Rules, 2014.
• Section 8 Company Registration is named Section 8 of the Companies Act, 2013, which pertains to a established 'for promoting commerce, art, science, sports, education, research, social welfare, religion, charity, protection of environment or any such other object', provided the profits, if any, or other income is applied for promoting only the objects of the company and no dividend is paid to its members. 

·         There may be 3-4 forms of a Charitable Organization in India and such organization can be formed/registered as trusts, societies, or as a non-profit company (NGO Company)  incorporated  under Section 8 of the Companies Act, 2013. 

• The Name of Section 8 Company Registration can end without the addition to its name of the word “Limited”, or as the case may be, the words “Private Limited”. ((Section 8(1) )
• Section 8 company registration  also has higher credibility amongst donors, Government departments and other stakeholders.

·         A Section 8 Company Incorporation is similar to a Trust or Society or Ngo Registration; but a Section 8 Company is registered under the Central Government's Ministry of Corporate Affairs. Whereas Trusts and Societies are registered under State Government regulations.

• The Registration Procedure of Section 8 Company is that of Similar to Private /Public Company as the case may be except of additional requirement of taking License from CG after name approval.

Proprietorship Firm:

FSSAI is a government body started online application system name as Food Licensing Registration System(FLRS) to facilitate Food Business Operator(FBO) to apply for fssai registration / state license / central license certificate as per firm turnover and FBO can track application on FLRS system with reference number provided by FSSAI during filing application. After approval of registration/license, Department will send fssai registration certificate or license copy to FBO on email, provided by FBO to FLRS System. In whole process, FSSAI Department will take maximum 75 working days. FBO can file application through fssai registration consultant under system of FLRS for maximum 5 years .

Eligibility of Fssai License:

Fssai registration : Turnover Upto 12 Lacs (Valid All India) 

Fssai Licence State: Turnover 12 Lacs to 20 Crores (Valid All India)

Fssai Central License : Turnover more than 20 Crores (Valid All India)

Fssai Import License: Food Import.

A new trademark registration is a registration of text,color, logo under ipr department for secure future of business. A trademark registration of word or logo can be represented brand name in the form of your company’s logo or a signature. Through a registered brand name registration or logo registration, you can protect your brand (or “mark”) by restricting other people or corporate from using its name or logo. Once acquired, a person or corporate can hold as long as for 10 years. Because a registered trade mark is a form of Intellectual Property, you can license or assign it to others for use as brand.

ENROLLMENT FOR GST IN NUMBER (Goods and Services Tax Identification Number) :

GSTIN (Goods and Services Tax Identification Number) : GST Registration is mandatory for all business entities involved in the selling or providing of services in India. We are offering an easy online process to register for Good and Service Tax-GST in all over India.

New GST Registration  : Rs. 599  All Inclusive (in Case of Proprietorship Firm)

GST Registration online : Rs. 999  All Inclusive (in Case of Partnership Firm)

GST Registration  : Rs. 1499  All Inclusive (in Case of Pvt. Company Registration/ LLP Firm)