Quick Name Approval for Companies

Screenshot_7Check how the Companies Incorporation Amendment Rules 2016 has paced up the name approval process for companies.

Taking another step towards its goal of turning the business process in India into an easy and inspired ride, the government on 22nd January of this year launched the Companies Incorporation Amendment Rules 2016. It came into effect from 26th of January, 2016. The motive behind the launch was making the name approval process for companies rapid and also for simplifying the process of company registration. This article brings to you the developments brought lately in the Company Name Approval process.

Before the launch of Companies Incorporation Amendment Rules 2016, the approval process was comparatively complex. Prior to the launch, the applications for name approval had to be submitted to the concerned ROC of the area based on the registered office address of the Company. The State level ROC officers administered the process of processing of the applications and accorded approval.

However with the introduction of the new process of name approval, the things have turned simpler and faster. A Centralised processing centre has been established for the process. Now all name approval applications are sent to the centralised processing centre for name approval. The process of processing of name approval applications all over the country is now administered by the central processing centre. The centre provides name approval based on the name availability. With the introduction of the new process, the new process of name approval has become faster, simple and easy.

Since the previous naming process adopted more rigid Company Naming guidelines and regulations than the present one, the process was comparatively more firm and inflexible. The new rules have brought relaxation in major restrictions in the company naming guidelines. With the relaxation, a lot more options have opened up for the companies to choose form. The key changes that have been brought by the Amendment Rules are enlisted below:

  • It is no more mandatory for the Companies to have a name in line with correspondence to the objects of the company.
  • The Companies can now choose a vague or abbreviated name unlike before, names like A2Z limited are now acceptable.
  • Previously the names that misled the customers about the objects and services of the firm where not allowed, now this ban on misleading names has been lifted.
  • Now the companies can change the activities of their firm without changing the approved name that the firm is already using.
  • Using names no more requires a NOC.
  • Responsibility of the process now in the hands of Central Registration Centre.
  • Number of Resubmissions for incorporation increased from two to three.

 

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The case of Identical Trademark

Screenshot_7Read the article to learn how trademarks are evaluated for being similar/identical.
The Section 11(1) of the Trade Marks Act 1999 says that a trade mark will not be registered if it has identical traits/similarities with any other already registered trade mark(s). This is because, the similarity/being identical of trademarks may create confusion for the public, for the services of one company may have association with those of the company with already existing trade mark.

The criteria adopted for classification of a mark as an identical trademark is very simple. A mark is considered identical to a trade mark when as a whole it contains extremely insignificant differences, so much so that they may go unnoticed by an average consumer.

On the other hand two trademarks are considered to share similarities when they are so nearly resembling that one mark can easily be deceived as other or may cause confusion.

The Trademark Office usually considers three factors while examining the trade mark applications. These factors are:

•    All that is similar and different between the respective trademarks is considered.

•    It is also brought into consideration that how distinctive the already existing mark is.

•    To what degree the respective goods or services are similar, is also noted.

The criterion for evaluating trademarks has been created over the years and is very uncomplicated. Some of the major factors that are considered for the comparison of trademarks are:

•    The Comparison is to be made keeping in mind the point of view of an ordinary person with average intelligence and of an imperfect recollection.

•    One has to make sure to take into account the structural, visual & phonetic similarities, along with the similarity of the idea in both the marks. It must also be noted whether there is any likelihood for the two marks to cause confusion.

•    One has to be careful that the whole mark is taken into consideration while evaluating. Only a selected part of the trademark compared with part of another trademark is not acceptable.

•    However this does not mean that a letter by letter comparison is required. Also side by side comparison is not the correct test.

•    Also in the case of medicinal preparations, additional precautions are required as possibility of confusion over marks on medicinal products may cause far more harm than that in case of ordinary products.

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Company Incorporation becomes easy as Government launches CRC

Screenshot_5CRC is the Central Registration Centre (CRC), launched lately by the Ministry of Corporate Affairs, Government of India. CRC became officially active from 27, Jan 2016. The CRC has been designed specifically to act as a catalyst of the company incorporation process. The government has been sincerely working towards bringing solid changes in the Indian market scenario to create an environment which encourages potential entrepreneurs. The Standup India Startup India Action Plan is one such large scale initiative by the government towards the aim. The launch of Central Registration Centre is yet another step taken by the government to enhance the ease of doing business in the country. With the launch of CRC, the government is also hoping for timely approvals and a uniformity in application of rules.

One of the major objectives is to encourage young entrepreneurs who are setting up businesses focused around the Digital India initiative. eFilingPortal.in has been introduced for such a purpose so that the new young entrepreneurs can easily set up their Business without any hassle of putting extra efforts for registering their Businesses as a legal entity.

Central Registration Centre, an initiative of the Ministry of Corporate Affairs, is placed under the Government Process Re-engineering (GPR). The Government Process Re-engineering involves a three dimensional approach of automating some of the approval processes. It will be made possible by using advanced software tools and engines, modifying some rules and bringing professionals into play. According to the release, with this kind of innovative and high tech approach, it will be possible to provide speedy incorporation-related services, in line with international best practices.

The release brought forward that the GPR procedure harmonises with the Ministry of Corporate Affairs’ intention behind introducing this platform, which is to make it easy to do business in India. In this context the release said that, “It is expected to result in speedier processing of incorporation-related applications, uniformity in application of rules and eradicating discretion. It will also be supplemented by intensive monitoring aimed at providing timely approvals”.

Technically the CRC will be taking care of the INC-1 e-forms that are filed as applications for name availability and are submitted online in India. The CRC will process the applications as soon as the next working day.
It is hoped that the launch of CRC will bring positive changes in the incorporation process of companies in India, and will contribute towards revolutionising the face of Indian Market Scenario.

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Companies Incorporation Amendment Rules 2016

In order to make ‘Business doing’ an easy and widely loved practice in India, the Government of India has been sincerely working towards the Startup India Action Plan. Taking another step towards the goal, on 22nd January of this year, the Companies Incorporation Amendment Rules 2016 was released. It came into effect from 26th of January, 2016. This amendment to the Companies Rule aims at making it easier to start a company in India. The key points of the Amendment Rules are featured in this article.

It is no more mandatory for the Company to have a name in line with the objects of the company. Before the amendment, it was mandatory for the companies to have names in harmony with the objects of the company. However, the new rules have relieved the companies from this compulsion.

Companies may choose a vague or abbreviated name. Prior to the passing of Amendment Rules 2016, names like “A2Z Limited” or “SKB Limited” or any other kind of vague, abbreviated names were not approved. Now, in the new rules this clause has been omitted, leaving the companies free to to choose vague or abbreviated names.

Ban on misleading names lifted. The names not in line with the companies actives, i.e. those misleading regarding the scope or scale of the activities of the company were not allowed earlier. With the coming of the new rule, the Sub-clause (xvii) of clause (b) has been removed. Thus, companies are now free to keep names that may mislead in some way.

Change of activities without change of name approved. Before the new rules were brought in, any company willing to change activities, was required to change its name to a name harmonising with the new activity. This had to be done within six months from the change of activities. Now the changing of activities can be done under the roof of same name. In other words, the company can continue to use the same name even if it is not in line with the new activities of the company.

Using names no more requires a NOC. As per the old rule, if the company name contains name of someone who is not one of the promoters of the company, a NOC must be attached. The new rule brought in that a NOC is not required in such cases from now on.

The steering now in hands of Central Registration Centre for Name. Previously, the name approval process was the responsibility of Registrar of Companies of respective states. The new Rules have handed this responsibility to the central registration centre. It is a centralised system which is concerned with name approval applications filed from across India.

Resubmissions increased from two to three. The number of resubmissions allowed for incorporation of company under the INC-29 method have been increased by one. However it has to be noted that the total period for re-submission should not exceed thirty days.

This article is about Company Registration and Business Registration for information please visit our website: http://efilingportal.in

Companies Incorporation Amendment Rules 2016

In order to make ‘Business doing’ an easy and widely loved practice in India, the Government of India has been sincerely working towards the Startup India Action Plan. Taking another step towards the goal, on 22nd January of this year, the Companies Incorporation Amendment Rules 2016 was released. It came into effect from 26th of January, 2016. This amendment to the Companies Rule aims at making it easier to start a company in India. The key points of the Amendment Rules are featured in this article.

It is no more mandatory for the Company to have a name in line with the objects of the company. Before the amendment, it was mandatory for the companies to have names in harmony with the objects of the company. However, the new rules have relieved the companies from this compulsion.

Companies may choose a vague or abbreviated name. Prior to the passing of Amendment Rules 2016, names like “A2Z Limited” or “SKB Limited” or any other kind of vague, abbreviated names were not approved. Now, in the new rules this clause has been omitted, leaving the companies free to to choose vague or abbreviated names.

Ban on misleading names lifted. The names not in line with the companies actives, i.e. those misleading regarding the scope or scale of the activities of the company were not allowed earlier. With the coming of the new rule, the Sub-clause (xvii) of clause (b) has been removed. Thus, companies are now free to keep names that may mislead in some way.

Change of activities without change of name approved. Before the new rules were brought in, any company willing to change activities, was required to change its name to a name harmonising with the new activity. This had to be done within six months from the change of activities. Now the changing of activities can be done under the roof of same name. In other words, the company can continue to use the same name even if it is not in line with the new activities of the company.

Using names no more requires a NOC. As per the old rule, if the company name contains name of someone who is not one of the promoters of the company, a NOC must be attached. The new rule brought in that a NOC is not required in such cases from now on.

The steering now in hands of Central Registration Centre for Name. Previously, the name approval process was the responsibility of Registrar of Companies of respective states. The new Rules have handed this responsibility to the central registration centre. It is a centralised system which is concerned with name approval applications filed from across India.

Resubmissions increased from two to three. The number of resubmissions allowed for incorporation of company under the INC-29 method have been increased by one. However it has to be noted that the total period for re-submission should not exceed thirty days.

This article is about Company Registration and Business Registration for information please visit our website: http://efilingportal.in

Registering for Central Excise

What is Central Excise Duty?

It is an indirect tax which is levied on all those Goods and Products, which are manufactured or produced in India. Therefore, central excise registration is the inevitable necessity of all the manufactures in India. If any manufacturing or producing unit fails to register for Central Excise, a heavy penalty and/or imprisonment can be imposed.

Do you come under the Central Excise Law?

The Central Excise Law prevails over all the manufacturing and production units in India. This in other words means that if you are a manufacturer or producer of goods in India, you come under the Central Excise Law and therefore need to register for Central Excise. One important thing to be noted in this case is, that re-packing or production of agricultural products, assembling and selling of waste or by-product could be dutiable.

Who all are exempted from the Law?

All the industries who have their aggregate turnover of less than Rs. One Crore and Fifty lakhs per year are exempted from Central Excise. Also wholesalers of excisable goods or products, or the traders, who use excisable good for purposes other than processing or manufacturing, do not come under the Law.

Details about Central Excise Registration

Any trader whose business comes under the Central Excise Law has to obtain a Central Excise Registration number. It is a fifteen digit number which is arranged in a manner that the first ten digits are the PAN Number, the eleventh and twelfth digits are the applicant status and the last three digits signify the premises number. The traders must note that they must register separately for each of their manufacturing premises.

Once the registration process is complete and registration number is obtained, it is valid unless it is is suspended or surrendered.

For more information about Central Excise Registration in India,

contact us at Company Registration.

Trademark Registration and Company Registration: Differentiation

The laws that oversee the matters of company registration, registration of business names and trademarks operate separately. This article discusses the difference between company registration and trademark registration along with addressing various concerns related to it.

Trademark Registration is the process that one goes through in order to get the unique company mark (identity of any kind) to be registered under the Trademark Act of India. Trademark registration gives the owner(s) rights to exclusive use of the registered trademark and also the right to acquire legal protection in case of infringement of their trademark. A trademark may consist of any or all of these-words, slogans, business names, numerals and signs. Generally the trademark registration process takes more than 12 months however the TM symbol can be used along with the logo or business name. This can also be done to symbolise that a trademark application has already been filed.

LLPs or Limited Liability Partnership is one of the newest forms of business entity in India. The LLP Registration was started in India in 2008 and it has quickly gained popularity among small businesses because of its low registration cost. LLP or Company Registration refers to the creation of a separate legal entity proficient to do business transactions and own property. The process of registration can be completed within 20 working days usually. A Certificate of Incorporation is issued once the company is registered. An account in the company name can then be opened. The certificate of incorporation can be used for obtaining other registrations like TIN Registration, Service Tax Registration, etc..

The Difference

As mentioned above, trademark registration refers to the registration of an intellectual property whereas Company or LLP Registration is the creation of a separate legal entity. As per the difference, the purposes that both the processes solve are also different. Trademark registration provides legal rights of use of a mark and a company is free to register more than one trademark. With Company or LLP registration on the other hand, one creates a legal entity for undertaking business activities.

The Ministry of Corporate Affairs governs the registration of companies in India and does not allow a Company or LLP to be registered with already existing name. Nonetheless, the name of the business can still be used by others if trademark registration is not acquired. Therefore, it is suggested that the business name should also be trademarked.

If you wish to commence your dream business in India or want to register your trademark, visit http://www.eFilingportal.in , also stay connected for more such information.

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All You Need To Check before you Start a Business

If you are thinking of starting a new business then all our best wishes are with you and if you have already decided then Congratulations on making the big decision. Bringing your business idea to a concrete ground needs a lot of efforts and patience, and thus you might feel snowed under the items on your to-do list. But you do not need to worry at all. The eFilingPortal.in is here to make sure you’ve checked all the boxes in your list to the top.

1. Testing the Waters You will have to be totally honest and sincere to yourselves when making the initial decisions of the kind and mode of business you are going to opt for. Keep in mind the contemporary market trends, economic situation and social environment.

2.  Form a business plan  A good business idea is one that brings maximum profit and is a good fit for you personally. It should complement the social scenario and also utilize the best of your talents and abilities.

3.  Locate finance

Accumulation of finances should be clearly planned significantly before commencement of the business. Estimate the cost of start-up and decide upon the mode of acquiring your finances. It may be personal finances, loans, money from investors, money from friends and family, crowd-sourced finances, or some other source.

4. Choose a business name You will need to have a name which is unique and fitting to the type of your business. Brainstorm until you have enough names to choose from. Make sure that the name you want is not a trademark already.

5. Go legal!

Before you start doing business, you have to make sure all the legal formalities have been taken care of. Decide on a legal business structure and register your business name along with a domain name that matches your business name. Obtain the required Tax Registration or Incorporation Certificates with CIN (Company Indentification Number).

6. Have on-line presence

In today’s digital world you may get a website and set up on the major social media channels mainlyFacebook, LinkedIn, and Twitter. Being online will make marketing a lot easier and wide approaching.

7. Arrangement of premises

Find the perfect business location in your area. You may choose from renting land or buying your own premises. Also make sure the size, location and other parameters of the land or building suit perfectly to your business.

8. Open a business bank account and set up your accounting system

Once you have your bank account set up, choose the latest accounting program for your business. It will make the work a whole lot easy and effective.

9. Insurance

The type of insurance you will need depends upon the type of business you are starting. Consult your insurance agent to have an easy and smooth walk through the process.

10. Marketing and launching

After all the preparations have been made it’s time to start getting people hyped up about your opening day. You’ll also need to create a marketing plan. You may create your marketing materials like Shop signs Stationery, invoices, Brochures and flyers along with a website.

The work to be done may overflow this business bucket list but prioritizing all that you can take care of down the road will make the work easier without getting on your nerves.

Did you like our article? Please feel free to drop your comments below.

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eFiling Portal

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For more info visit here: Company Registration and Business Registration