April 25, 2024

The Indian populous is always adoptive of the emerging trends in fashion among other industries, thanks to the increasing pay-scale of the citizens and a never-ending temptation to procure. India ranks second in the world for footwear production, and its apparel segment is flourishing with opportunities for both foreign and domestic players. The story of the origin of Woodland dates back to the early 1950’s, when Aero Group (Woodland’s parent company) navigated into the outdoor shoe industry by initiating its endeavors in Quebec, Canada. The bifurcation of Russia prompted the famed entity to extend its portfolio into India, thus leading to the creation of a brand which we now know as ‘Woodland.’ The brand promotes itself as a rugged outdoor shoe brand preferred by adventure enthusiasts Prospective Locations of Expansion North Delhi Haryana Himachal Pradesh Jammu and Kashmir Punjab Uttaranchal West  Gujarat Rajasthan Maharashtra Goa East  Assam Meghalaya Mizoram Tripura Arunachal Pradesh Manipur Nagaland West Bengal Sikkim Odisha South  Kerala Karnataka Tamil Nadu Center Chhattisgarh Madhya Pradesh Bihar Jharkhand Union Territories Andaman and Nicobar islands Pondicherry Chandigarh Daman and Diu Infrastructure Standards The franchise could be established in high streets or malls given the high number of footfalls in these locales. The floor area of the particular property must be between a square feet of 1000-2000 and must be preferably located on the ground floor of a premise. Training The services normally endowed to all franchises would be extended to the business partners of the Woodland group. The range of service includes: Expert guidance from the Head Office in the establishment of the franchise. Detailed operating manual. Required Investment Qualified franchisees can be part of the woodlands group by investing a sum of INR 50 lakhs to 1 crore (varies according to the kind of outlet and location). The franchise would benefit in terms of the performance guarantee which is accorded by the company, along with an ROI of 20%. Company estimates suggest a payback period of three years. Terms of Agreement Akin to all business endeavors, the franchise is obligated to enter into a business agreement that will last for three years. The contract can be renewed upon expiry. FAQs What are the benefits of franchising with Woodland? Franchising with Woodland offers several benefits, including access to a well-established and recognized brand, proven business model, marketing support, training, and ongoing operational support. Does Woodland offer franchise opportunities? Yes, Woodland offers franchise opportunities for individuals or entities interested in partnering with the brand to operate retail outlets selling Woodland products. What is the investment required to franchise with Woodland? The investment required to franchise with Woodland can vary depending on factors such as the size and location of the retail outlet, lease or rental costs, initial inventory, and other operational expenses. Woodland typically provides guidance on the expected investment range during the application process. 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Securing NBFC registration in India is a process undertaken by companies registered under the Companies Act, 2013, overseen by the RBI as per the RBI Act, 1934. NBFCs hold a crucial position in the Indian economy, facilitating financial operations and stepping in to fulfil banking needs when traditional banks fall short in extending loans and advances. Moreover, non-banking financial corporation (NBFC) banks are predominantly involved in accepting deposits as per the prescribed schemes and arrangements. Depositors have the option to contribute either in a lump sum or through instalments. Further, the operations of NBFCs are regulated and overseen by the RBI in accordance with the provisions outlined in the RBI Act of 1934. As per Section 45-IA, no NBFC in India is permitted to commence or conduct business operations without obtaining an NBFC Registration Certificate. The RBI is the sole authority in India that is entrusted with issuing NBFC registration certificates. Over recent years, the RBI has streamlined policies and regulations for NBFCs, making the process of obtaining a registration certificate easier than in the past. A Non-Banking Financial Company (NBFC) is a company registered under the Companies Act, 1956/2013 engaged in the business of loans and advances, acquisition of shares/stocks/bonds/debentures/securities issued by Government or local authority or other marketable securities of a like nature, leasing, hire-purchase, insurance business, chit business but does not include any institution whose principal business is that of agriculture activity, industrial activity, purchase or sale of any goods (other than securities) or providing any services and sale/purchase/construction of immovable property. How NBFC are different from Bank? NBFCs lend and make investments and hence their activities are akin to that of banks; however there are a few differences as given below: NBFC cannot accept demand deposits; NBFCs do not form part of the payment and settlement system and cannot issue cheques drawn on itself; Deposit insurance facility of Deposit Insurance and Credit Guarantee Corporation is not available to depositors of NBFCs, unlike in case of banks. Regulated Authority for NBFC: The Reserve Bank of India (RBI) formulates rules & regulations for NBFCs, therefore license from RBI is required for starting NBFC in India as per Section 45-IA of the RBI Act, 1934. The RBI is authorized to regulate NBFCs by ensuring that they are complying with the prescribed rules & regulations. NBFC Registration Eligibility Criteria in India The Reserve Bank of India is the regulator of NBFCs in India. A particular company can be identified as NBFC if it satisfies the principal business criteria, that is to say, the company will be treated as an NBFC if: The company’s financial assets comprise more than 50% of the company’s total assets (netted off by the intangible assets) and The income from financial assets comprises more than 50% of the gross income of the company. A company that satisfies both the above criteria shall be qualified as a Non-Banking Financial Company and thus it would be required to obtain NBFC registration with RBI. However, the NBFC License requirements of RBI do not end here. As per Section 45-IA of the Reserve Bank of India (Amendment) Act, 1997, no NBFC shall be allowed to commence or carry on the business of a non-banking financial institution if –  It does not obtain a certificate of registration issued by the RBI It does not have net-owned funds of Rs. 2 crores. However, it may vary depending on the type of NBFC. Thus, the company is also required to satisfy the NBFC registration limit. Further, as per RBI notification, the net owned fund requirements for certain categories of NBFCs shall be increased to Rs. 10 crores for which a glide path has been provided. Following is the glide path for net owned funds requirements: Type of NBFC Current Net Owned Funds Required Net Owned Funds to be Achieved Till 31st March 2025 Net Owned Funds to be Achieved Till 31st March 2027 NBFC – Investment and Credit Company Rs. 2 crores Rs. 5 crores Rs. 10 crores NBFC – Micro Finance Institution Rs. 5 crores (Rs. 2 crores in North Eastern Region) Rs. 7 crores (Rs. 5 crores in North Eastern Region) Rs. 10 crores NBFC – Factors Rs. 5 crores Rs. 7 crores Rs. 10 crores   The company desirous of obtaining NBFC registration with the RBI shall make an application to the RBI in the prescribed form along with all the necessary documents. The RBI will issue the Certificate of Registration if it is satisfied that the entity satisfies all the conditions as prescribed under Section 45-IA of the RBI Act, 1934. Different types/categories of NBFCs: NBFCs are categorized: in terms of the type of liabilities into Deposit and Non-Deposit accepting NBFCs, non deposit taking NBFCs by their size into systemically important and other non-deposit holding companies (NBFC-NDSI and NBFC-ND) and by the kind of activity they conduct.​ Within this broad categorization the different types of NBFCs are as follows: Asset Finance Company Loan and Investment Company Infrastructure Finance Company Systemically Important Core Investment Company Infrastructure Debt Fund: Non- Banking Financial Company Non-Banking Financial Company – Micro Finance Institution Non-Banking Financial Company – Factors Mortgage Guarantee Companies NBFC- Non-Operative Financial Holding Company Pre Requisites for NBFC Registration For NBFC registration, below mentioned conditions must be fulfilled as per Section 45-IA of the RBI Act, 1934: Director’s Experience:-Directors of the applicant company must possess requisite experience in NBFC/Banking areas in order to apply for NBFC license. Five Year Business Plan:- An applicant company needs to draft detailed business plan for the next five years.   Credit History:- The credit score of the company, directors & its shareholders must be fine and they must have not defaulted loan re-payment deliberately to banks or to NBFCs. FEMA Compliances:-In case of involvement of foreign investment, an applicant company must have complied with the FEMA Act. 100% FDI is allowed from FATF member countries. NBFC Registration Procedure Following steps to be taken for NBFC Registration: Register a Private Limited or Public company The proposed name of the company must

An Asset Reconstruction Company is a specialized financial institution that buys the NPAs or bad assets from banks and financial institutions so that the latter can clean up their balance sheets. In other words, ARCs are in the business of buying bad loans from banks.  An Asset Reconstruction Company is a specified economic organization which purchases the Assets which are not performing assets or corrupt assets from banks and fiscal/financial organizations. It includes the business of purchasing the bad loans from the banks and cleans up the bad and non-recoverable financials of the banks after that sold out these to the Asset reconstruction company. To avoid the time to be wasted and efforts the non-performing assets to be sold to the Asset reconstruction company at a mutually decided value. The main purpose is to achieve or to make profit from the non-profitable assets which are not able to provide efficient revenue to fulfill the unpaid liabilities. The main and foremost drawback of suffering from the possible damage/loss of revenue to resolve from the crises when company suffers from insolvency. If the asset reconstruction company manages the same in a proper way then there is a chance of profit if they can release the company from fiscal/financial stress and sell off the assets in better way. For their services the administrative cost or commission is charged from the insolvent company/individual. The securitization and reconstruction of financial assets and enforcement of securities interest (SARFESI) Act, states that the ARCs have the responsibility to perform as the mediator between the promoter and the trust where the trust has the role to take over the assets or loan at the agreed value which is subsequently paid to the promoter for the attainment/acquisition. What is Asset Reconstruction Company? Asset Reconstruction Company or ARC are financial entities registered under the Companies Act 2013. The purpose of these entities is scrutinization of NPAs and they need to be registered with RBI which is the regulatory body for such entities. Section 3 of the SARFAESI Act describes the ARC as specialized financial institutions for buying bad loans or NPAs. These institutions ensure enhanced liquidity in the market and a cleaner balance sheet for their banks. After buying the bad loans from financial institutions or banks, ARC becomes the owner of such assets and get the responsibility of the lender in the transaction. Now, they can move with the recovery process of bad loans in place of the original lender. The applicable rules and regulations of these entities are as per the SARFAESI Act. A company willing to obtain Asset Reconstruction Company Registration certificate must apply to RBI within six months of its commencement under the SARFAESI Act.  The business of asset reconstruction or scrutinization cannot be carried without the registration certificate of RBI. Eligibility Criteria to Get Asset Reconstruction Company Certificate A company must fulfill the following conditions to get registered as an ARC. The company must not have incurred any losses in the financial years prior to it. To realise the acquirement of financial assets, the company must have enough infrastructure and adequate arrangements. The company must be able to give periodic returns on the investment made in the company by financial buyers or other investors. The company directors should be experienced in financial management, reconstruction management, and scrutinization of assets. The directors must possess a clean image in public and should not have any convictions related to any case of moral turpitude. The sponsor or promoter of ARC must meet all the criteria of RBI. The company must comply with the regulatory norms of RBI. The company must have a net owned fund of 100 crores or more as specified by RBI. Documents Required For Asset Reconstruction Company Registration Copies of AOA and MOA of the company. Certified copy of the incorporation certificate of the company. A copy of the resolution by the company’s board stating it has not accepted any deposit. Details of promoters or administrators and all the related documents of their educational and professional qualifications. Detailed information on the director’s profile, previous experience, etc. A copy of the audit certificate from a verified auditor. The audited balance sheet of the previous three years with auditor’s and director’s report. A statement expressing details of the owned fund. Information related to party transactions. Acquisition and Valuation rules for ARC The ARCs shall acquire NPAs at a ‘fair price’ following the “Arm length principle”. The SARFAESI Act allows ARCs to acquire financial assets (NPAs) by way of a bank agreement. In exchange for NPAs transferred to ARCs, banks and FIs may receive bonds/debentures. A portion of the value may be paid as Security Receipts (SRs). Funding Resources for ARC The ARC could issue bonds or debentures related to funds to meet its funding requirements. Issuing security receipts is one of the primary sources of funding for ARC. According to the SARFAESI Act, security receipts are the securities issued by a qualified reconstructional company to any certified Qualified Institutional Buyer (QIB) regarding any particular scheme. The receipt gives a title, right, or interest to the QIB in the financial assets acquired by the ARC. The security receipts have impaired assets for back up. The Qualified Buyer or QIB means a financial entity which can be a financial institution, bank, insurance firm, state-owned industrial development corporation, state-owned financial corporation, trustee, or any other asset reconstruction firm certified under SARFAESI Act. An ARC is not allowed to raise funds through investors who are not a designated qualified buyer. Asset Restructuring and Resolution Strategies for ARCs Take over or restructure the management of the borrower’s company. Facilitate settlements or sale and lease of the borrower’s company. Debt rescheduling and restructuring. Strengthening the security interests of the company. Take possession/lease/sale of the sponsored asset of the borrower such as land or building etc. Procedure to Get Registration Certificate of Asset Reconstruction Company Compile all the necessary documents and prepare the application for ARC registration as specified by RBI. Before applying for RBI

Copyright is a law that provides the legal right to a person to save their work through Registration. Copyright Registration in India is an essential element in protecting the innovation of a creator. This innovation could be anything such as a song, film, book, drama or artwork. Getting Registration helps to safeguard the originator’s intellectual property and provides several financial benefits. Copyright is a fundamental concept that protects the work of creators. It gives them exclusive control over how their creations are used, shared, and reproduced. Beyond understanding the core concept of copyright, this article will explore the significance of copyright registration. This process ensures legal protection and empowers creators to have greater control over their work. Whether you are a creator seeking to protect your content or an enthusiast interested in the legal aspects of creative expression, What is Copyright? Copyrightis a legal term that refers to the exclusive rights granted to the creator or owner of an original work. It is a form of intellectual property protection that grants the creator the exclusive right to reproduce, distribute, display, perform, and modify their work. These rights typically apply to various forms of creative expression, such as literary works, music, art, films, software, and more. What kind of work can be registered using a copyright? In India, copyright can be taken for original works that fall in the area of: Musical works, Literary works like books and manuscripts, Cinematography films, Fashion designs, Artistic works like paintings, Performances, Software and other computer programs and compilations, etc. However, it must be remembered that copyright does not protect titles, names, ideas, concepts, slogans, methods, and short phrases. What is Copyright Registration in India? Copyright Registration in India is a legal procedure for protecting a person’s innovation or original work. Indian Copyright Act 1957, permits to prevent any creative work through Copyright Registration. The Copyright also provides many exclusive rights and serves as legal proof of ownership. The Copyright denotes the symbol ©, which mentioned the work is Copyrighted and saves from piracy. However, Copyright Registration in India also provides several benefits such as legal protection, serving as public notice and infringement lawsuits. Copyright Registration in India covers broad categories of creation or work such as literary work, sound recording, cinematography films, photography, artistic work, computer-generated work and musical work. The duration of the creation’s Copyright is for the lifetime of the owner and 60 years plus from his/her death. What Can You Copyright? Understanding the Categories Copyright is a valuable tool for safeguarding a wide range of creative works. The Registrar of Copyrights maintains a comprehensive register that is divided into six distinct categories, each tailored to specific types of intellectual property: Literary Works (Excluding Computer Programs): This category encompasses many written creations, from novels and poetry to essays, articles, and more. Musical Works: Musical compositions, including melodies, lyrics, and sheet music, fall under this category. Artistic Works: Visual creations such as paintings, sculptures, drawings, and other artistic expressions enjoy copyright protection. Cinematography Films: Copyright extends to films, ensuring the protection of audiovisual works. Sound Recordings: This category covers the audio recordings of music, speeches, and various other sound-based creations. Computer Programs, Tables, and Compilations: Software, data compilations, and tables are safeguarded by copyright, ensuring the protection of digital innovations. Benefits of Copyright Registration Safeguarding the Owner: Copyright registration provides copyright owners exclusive rights over their work, encompassing reproduction, distribution, adaptation, dissemination, and translation. Legal Protection: Creators benefit from legal protection, ensuring their work cannot be reproduced without proper authorization. Enhancing Brand Value: A registered copyright serves as proof of ownership, allowing creators to use it for marketing purposes and contributing to goodwill creation. Global Reach: Copyright protection extends internationally. If a work is copyrighted in one country, it enjoys similar privileges in other countries, including India. Copyright as an Asset: Copyright is considered an intellectual property asset, making it an intangible resource that can be sold or licensed, adding economic value. Owner Visibility: Copyright registration raises the work profile, making it accessible worldwide and searchable in copyright registries. It also prevents unauthorized use of the work once registered. Economic Stability: Copyright registration promotes economic stability, enabling creators to reproduce and monetize their art in various forms, contributing to their financial well-being. How Long Does Copyright Protection Last? copyright registration, copyright protection typically endures for the author’s lifetime plus an additional 60 years after the author’s death. This duration ensures that the creator’s work remains safeguarded and continues to benefit their heirs or assigned rights holders for a substantial period. Copyright Symbol Once you’ve obtained copyright registration, you can use the copyright symbol (©) to indicate that your work is protected by copyright. This symbol serves as a clear notice to others that the work is under copyright protection and can help deter unauthorized use or reproduction of your creative work. Legal Rights of a Copyright Owner Claiming Authorship: You can claim authorship of your published work, asserting your paternity over the creation. Reproduction and Storage: The owner can reproduce the work in any tangible form and store it in any medium through electronic means. Control Over Publication: You can decide where and where not to publish your work, exercising the publication right. Public Performance and Communication: The owner may publicly perform or communicate the work to the public. You also have the authority to create translations or adaptations of the original work. Protecting Reputation: In case of any potential harm to your image or reputation, you have the right to take necessary preventive actions. Selling or Transferring: The owner can sell or transfer the copyright, granting others the rights to use, reproduce, or adapt the work as specified in the transfer agreement. These legal rights empower copyright owners to manage and protect their creative works while allowing them to control their intellectual property. Documents Required for Copyright Registration in India 2 Copies of the Work Demand Draft (in case of Offline Registration) NOC from Author/ Various Copyright holders/ Publisher Power of Attorney (if the application is filed by any attorney) Identity Proof of the applicant (ex- Aadhar card, PAN card, etc) Process of Copyright Registration in India Access