Himanshu Jain

About LegalRaasta

Himanshu Jain is the founder of LegalRaasta – India's top portal for registration, trademark, return filing and loans. Himanshu is a CFA (US) & MBA (ISB). He has over 8+ years of corporate / consulting experience with top firms like McKinsey

Section 8: Can Make A Difference?

Introduction Section 8 Company, according to The Companies Act 2013, is a company which promotes Art, Science, and Commerce, education, Sports, Social Welfare, Research, Charity, Religion, Environment and similar objects. Their income, as well as profit, is supposed to be used for promoting these objects. Section 8 Company, like any other company, has to go through a proper registration procedure. But, it is still quite different in comparison to other companies. [...]

Authorized Share Capital for Company Registration

Authorized Share Capital more commonly known as authorized capital is basically the maximum amount of share capital that a company can issue to shareholders. This amount varies from company to company and is subject to change but only with the approval of shareholders. Let's just assume that a company's authorized capital is Rupees one lakh then it automatically means that you can issue shares of up to Rupees one lakh. [...]

Private Limited Company

Private Limited Company A private limited company is a company which is privately held for small businesses. The liability of the members of a Private Limited Company is limited to the amount of shares respectively held by them.Shares of Private Limited Company cannot be publically traded. Alll the aspects of Private Limited Company is discussed in the article. Characteristics of Private Limited Company Members– To start a company, a minimum number of [...]

Close Private Limited Company in India

Introduction Shutting down a private ltd. company is a challenging process. However, if you are the owner of an incorporated business in the form of a Private Limited Company, then it is even more so. A Pvt. Ltd. Co. can be shut down in several manners depending upon the requirements of the business owner – Sell the company (if possible); Declare the company ‘defunct’ and shut it down; or ‘Wind [...]

Trade License Registration in India

Introduction Starting a business is an exciting, and at the same time, frightening experience. While a business owner may be eager to simply set up shop and begin selling a product/service, the process is much more complicated. One of the hoops that must be jumped through is the procurement of necessary licensing and registration as mandated by the Government of India. Trade license registration is often a time consuming and expensive [...]

Raising Angel funding for Startup

Angel Funding is done by angel investors (may be solo or in the group). They are quite famous especially amongst startups, they are simply those who invest in a particular company based on various factors. They can be formal or informal, they may be partners or they may be entrepreneurs themselves. Anyhow they are people loaded with money or that's a general perception about them. It's a known fact that [...]

Conversion of Private Limited to Public Limited Company

Introduction Private limited companies and Public limited companies are considered to be separate legal entities with limited liabilities given to their shareholders and members. Both forms of company are incorporated under The Companies Act. Though, both types of companies have a lot of differences. Be it in terms of requirement or legal registrations. To incorporate a public company you require a minimum of seven members and three directors. However, in the [...]

Import Export Code Exemptions in India

Introduction IEC (Import Export Code), is a 10 digit unique number that is required for an exporter and an importer. IEC code (Import Export Code) is mandatory for good and not for services. DGFT (Director General of Foreign Trade) and Ministry of Commerce in India are high authorities that issue the Import Export Code (IEC). Exemptions  Foreign Trade Policy of India that exempts the following from getting IEC code number as follows: [...]

Import and Export Code in India

Introduction Sellers selling goods outside the state/country is called the export of good and purchasing goods from other countries is called import of goods. When you decide to sell the goods and services of your firm in international markets, first obtain the Import Export Code (IEC). In the process of import and export of goods, IEC is used for clearing goods from custom authority or service provider. It is a [...]

Process for Company Registration Status and MCA

Introduction There is a number of bodies corporate such as Limited liability partnership, one person company and the private limited company which is registered under the ministry of the corporate affair in India (MCA). MCA regulates the functioning of all the company and the LLP. The information of all these entities is online published by the ministry of corporate affairs. This information can be seen by the public as well [...]