Arshi Noor | Legistify

Arshi Noor
Answered on 23 Mar 2020

Renting out an apartment is not a commercial activity. Pre-school is not a teaching activity or a commercial activity. In fact, a pre-school is a playschool. For pre-school, there are no standards, rules established by the government of Karnataka. The government doesn't even issue Licenses under Shops and Establishment act for Pre-Schools. The license under shops and establishment act is a basic license which is issued to your roadside corner tea shop or medical shop. But in the case of pre-schools, the government does not even issue such licenses. So the whole concept of licensing a pre-school does not exist. When there is no license, then that activity is not a commercial activity at all. So when the government has not formulated any rules or procedures for running a pre-school, it means you do not need any permission from the government, Not sure why are you asking permission from neighbours when the government itself does not regulate. Your neighbours are flat owners/ tenants with no special rights. Today within the walls of many flats, people are indulging in money lending, start-ups, professionals render services such as legal services, medical etc. So no worries at all.Read More

Posted on 26 Feb 2020 | 1 Answer

Aditya Dua | Legistify

Aditya Dua
Answered on 23 Mar 2020

You can start your Business Operation just after getting the certificate of Incorporation, you need not wait till the Filing of the Certificate of Commencement of Business as you can file INC 20A at any time within 180 days from the date of Incorporation.Read More

Posted on 16 Mar 2020 | 1 Answer

Team Legistify | Legistify

Team Legistify
Answered on 22 Mar 2020

Lack of vernacular declaration may not affect the NPA case if other evidence is available against the defaulter.Read More

Posted on 10 Feb 2020 | 1 Answer

Team Legistify | Legistify

Team Legistify
Answered on 22 Mar 2020

A lawyer cannot sign a Spice 32 form, however, a Company Secretary can.Read More

Posted on 10 Feb 2020 | 1 Answer

Sakshi Yadav | Legistify

Sakshi Yadav
Answered on 21 Mar 2020

Yes, you can get a Non Disclosure agreement with your employees and in the agreement, you can mention consequences if anyone does so.Read More

Posted on 19 Mar 2020 | 1 Answer

Team Legistify | Legistify

Team Legistify
Answered on 15 Mar 2020

A complaint with the Banking Ombudsman can be filed against the bank for taking legal action without prior information exchange with the borrower.Read More

Posted on 06 Feb 2020 | 1 Answer

Team Legistify | Legistify

Team Legistify
Answered on 15 Mar 2020

What you're talking about is bonus shares in form of hybrid shares. However, a company is not allowed to give bonus shares of another company when its shares are purchased.Read More

Posted on 29 Jan 2020 | 1 Answer

Karishma Pandit | Legistify

Karishma Pandit
Answered on 29 Feb 2020

Every district or city has a chit registrar, where one needs to go and apply for the chit fund registration. Nevertheless, before one goes there, one must register a private limited company in India under the Companies Act and then register to apply for the license with chit registrar.Read More

Posted on 26 Feb 2020 | 1 Answer

Team Legistify | Legistify

Team Legistify
Answered on 03 Mar 2020

The Insolvency And Bankruptcy Code also allows employees and workmen to initiate the recovery process against their employer companies. Under the Code, employees and workmen are considered as the operational creditors and when the company fails to pay salaries of employees or workmen and the total payment exceeds INR 1 lakh, the employees can file the recovery process application against the company with NCLT.Read More

Posted on 13 Jan 2020 | 1 Answer

Team Legistify | Legistify

Team Legistify
Answered on 16 Jan 2019

The first and foremost step after the incorporation is to intimate to the registrar of companies, the registered office of your company capable of receiving and acknowledging communication and notices. The company is required to file a verification of the registered office with the Registrar of Companies within a period of 30 days of its incorporation. One of the most important things that you need to do is to mention the details of the company like its name, address, phone number etc. outside its registered office and also on the letterheads and the website of the company.  The Annual General Meeting is an important event for every organization which gives the members, the general public and the directors an idea about the current health and state of affairs of the company. The conduct of such meetings should be only during the business hours of a day, which mandatorily should not be a public holiday, at the registered office of the company. This is one of the first things that you are required to do as soon as you receive the certificate of incorporation and such compliance which new startups are failing to comply with due to unawareness. Within 30 days from the date of registration of the company, the Board of Directors must appoint an auditor in a board of meeting. Once the accounting system has been created and maintained throughout, a private limited company is required to take care of the following annual compliances/ ROC filing:  Balance sheet, Profit and loss account, Auditor’s report and Annual return every financial year Before the due date with the registrar of companies. Read More

Posted on 16 Jan 2019 | 2 Answers