BEWARE OF DUBIOUS SCHEMES There are several dubious schemes operating in the market. The promoters of such schemes float companies with attractive names. They start in a particular area and then, on attaining saturation of member enrollments, keep shifting over to new areas. While promoting the schemes, they get film stars, politicians, sportspersons etc. at… Read More »
20 MANTRAS TO WISE INVESTING Save prudently…..Invest even more wisely You need to invest, otherwise your savings will depreciate in value/purchasing power. However, mindless or reckless investing is hazardous to wealth; Please become an investor… and not a trader or a gambler. 20 Mantras to Wise Investing Mantra 1 Follow life-cycle investing You can… Read More »
LLP AGREEMENT 1. How the mutual rights and duties of partners inter-se and those of partners and LLPs would be governed? The mutual rights and duties of partners inter se and those of the LLP and its partners shall be governed by the agreement between partners or between the LLP and the partners. This Agreement… Read More »
FAQs ON USER REGISTRATION ON MCA 1. Why do I need to register myself as a user on MCA portal? To file an eForm or to avail any paid service on MCA portal, you are first required to register yourself as a user in the relevant user category, such as registered and business user. 2.… Read More »
LLP e-FILING 1. What are the steps to incorporate LLP? Name reservation: The first step to incorporate Limited liability partnership (LLP) is reservation of name of LLP. Applicant has to file eForm 1, for ascertaining availability and reservation of the name of a LLP business. Incorporate LLP: After reserving a name, user has to file… Read More »
REGISTRATION OF LIMITED LIABILITY PARTNERSHIP 1. What are the registration formalities relating to LLPs? LLPs shall be registered with the Registrar of Companies (ROC) (appointed under the Companies Act, 1956) after following the provisions specified in the LLP Act. Every LLP shall have a registered office. An Incorporation Document subscribed by at least two partners… Read More »
LIABILITY OF PARTNERS 1. Nature & extent of liability of a partner of an LLP? Every partner of an LLP would be, for the purpose of the business of the LLP, an agent of the LLP but not of the other partners. Liability of partners shall be limited except in case of unauthorized acts, fraud… Read More »
MERGER AND WINDING UP OF LLP s 1. Whether two LLPs would be allowed to merge? Provisions of section 60 to 62 of the Act provide for the manner in which compromises or arrangements including mergers and amalgamations involving LLPs shall be allowed. 2. What is the date of implementation of these Guidelines? It is… Read More »
RESERVE BANK’S INSTRUCTION ON BANKING MATTERS (UPDATED AS ON 13-8-2012) INDEX I. Domestic Deposits II. Deposits of Non-Resident Indians (NRIs) III. Advances IV. Advances Against Shares And Debentures V. Donations VI. Loans For Premises VII. Service Charges I. DOMESTIC DEPOSITS 1. Whether banks can accept interest free deposits? Banks cannot accept interest free deposits other… Read More »
SENIOR CITIZENS SAVINGS SCHEME, 2004 (UPDATED AS ON 3-4-2013) 1. What are the salient features of the Senior Citizens Savings Scheme, 2004? The salient features of the Senior Citizens Savings Scheme, 2004 are given below. Tenure of the deposit account 5 years, which can be extended by 3 years. Rate of interest 9.2 per cent… Read More »