April, 2024 | CA B K Goyal & Co LLP

Having a website and online presence strategy allows any business to flourish its market and expand its business. As the web has the fastest reach to advertise any form of Business. Website disclosures is the primary tool of better Corporate Governance. Thus, the companies having their website are required to adhere to certain provisions and compliances about website disclosures. It must be in accordance with the Companies Act, 2013 and SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 and any changes to it must be updated within 2 working days. The information should be placed for a minimum period of 5 years. Website Disclosures The Companies Act 2013 mandates disclosing certain information on the company’s website. Information such as the name of the company, address of the registered office, the corporate identity number, telephone number, fax number, email ID, and name of the company’s representative in case of any grievances/queries. The company’s website address must be disclosed on the letterhead, business letters, billheads, letter papers, and official publications and notices. It is not mandatory for the companies to have a website as per the Companies Act 2013, in the case of a listed company, the Securities and Exchange Board of India (SEBI) has made it mandatory for companies to have an updated website since April 2011. Therefore, the mandatory disclosures on the website are governed by the following Acts: Companies Act 2013 SEBI Listing (Obligations and Disclosure Requirements) Regulations 2015 SEBI (Prohibition of Insider Training) Regulations 2015 The Disclosure requirements are specific to the type of company and the nature of business. MANDATORY WEBSITE DISCLOSURE REQUIREMENTS UNDER COMPANIES ACT, 2013: Website address on all its business letters, billheads, notices, and other official publications Notice of change of objects for which money is raised through the prospectus Details of Annual Return. The web-link of such annual return shall be disclosed in the Board’s report Details of establishment of Vigil Mechanism Nomination and Remuneration policy Company’s policy on director’s appointment and remuneration including criteria for determining qualifications. Corporate Social Responsibility policy of the Company Terms and Conditions of appointment of the Independent Director Closure of register of members or debenture holders or other security holders Notice of General Meeting of the company Notice of Voting through electronic means. Notice of Postal Ballot and the results of postal ballot shall be declared by placing it, along with the scrutinizer’s report. Any Special Notice. Circular inviting deposits from public. Details of transfer to the Unpaid Dividend Account. Details of striking off. MANDATORY WEBSITE DISCLOSURES UNDER SEBI LODR, 2015:- A listed company is mandatorily required to have a functional website with following details: Aspects of its business activities Terms and conditions of appointment of independent directors Composition of various committees of board of directors Code of Conduct of board of Directors and Senior Management Personnel Details of establishment of vigil mechanism/ Whistle Blower policy Criteria of making payments to non-executive directors. Policy on dealing with related party transactions Policy for determining ‘material’ subsidiaries The email address for grievance redressal and other relevant details Contact information of the designated officials of the listed entity who handle the investor grievances, etc. Shareholding Pattern Details of agreements entered into with the media companies and/or their associates, etc New Name and the old name of the listed entity for a continuous period of one year, from the date of the last name change notice of meeting of the board of directors where financial results shall be discussed financial results, on conclusion of the meeting of the board of directors where the financial results were approved complete copy of the annual report including balance sheet, profit and loss account, directors report, corporate governance report etc Details of familiarization programmes imparted to independent directors including the number of programmes attended, number of hours spent and other relevant details entities falling under promoter and promoter group shall be disclosed separately in the shareholding pattern dividend distribution policy for top five hundred listed entities based on market capitalization (calculated as on March 31 of every financial year) composition of various committees of board of directors all credit ratings obtained by the entity for all its outstanding instruments separate audited financial statements of each subsidiary All disclosures made to stock exchanges as per Regulation 30 Website Disclosures For Public Companies The notice of “Change of objects for which money is raised through prospectus” under Rule 32 of Chapter II – Companies (Incorporation) Rules 2014 must be published on the website. A copy of the circular inviting deposits from the public must be on the website of the company. Information about the closure of the register of members or debenture holders or other security holders. Notice of the postal ballot. Results of the postal ballot along with the scrutiniser’s report must be published. Details of the establishment of the Vigil Mechanism must also be disclosed on the website. Terms of Appointment of Independent Directors must also be published on the website. Website Disclosures For Listed Companies Particulars of the business activities. Terms of Appointment of Independent Directors must also be published on the website. Particulars of the structure of the various committees of the Board of Directors. Code of Conduct of Senior Management and Board of Directors. A policy with regards to related party transactions. Details of the establishment of the Vigil Mechanism and Whistle Blower Policy. Email of Grievance Redressal Mechanism and other relevant information. Shareholding Pattern. Designated Officials who can handle investor grievances. All other information about notices, taxes, agreements, and financial information. Consequences Of Non-compliance There are no penalties for non-compliance with the website disclosure requirements. But as per Section 450 of the Companies Act of 2013, the penalty for non-compliance by the company or any officer of the company who defaults to any of the Act’s provisions will be Rs 10,000. For continuing contravention, it will be a further fine of Rs 1,000 for every day of default. This will apply to the default of non-disclosure, a company must take care

Mandatory website disclosures under the companies act 2013 Read More »

IPINDIA Trademark Status

learn / CA Bhuvnesh Goyal / April 18, 2024

Building and safeguarding your brand is vital in today’s highly competitive market, and one effective way to ensure its distinctiveness and legal protection is by registering a trademark. However, once you’ve submitted your trademark application, it’s important to stay informed about its status. Are there any obstacles in the registration process? Has it been approved? Is there a similar mark already in use? So, let’s delve deeper into the various methods and resources available to help you easily check the status of your trademark online.The registration of a Trademark in India is a 100% online process and is completely transparent. The Trademark Registry allows you to check the status of your Trademark application online on its official website (ipindia.gov.in). Stepwise Process to Check Trademark Status on Trademark Registry Website Step 1: Create an Account & Login to IP India Website: The first step is to login at http://ipindia.gov.in using your login credentials. If you don’t have an account, you will first have to create one. After creating the account, you will immediately receive the login credentials on your registered email. Step 2: Go to Trademark Status Option in the Menu: The next step is to go to Trademarks in the main menu on the home page. Under the main menu “TradeMarks” you will find an option in the dropdown sub-menu as “Related Link”. Go to that option and choose “TradeMark Status” under it. (Home > Trademarks > Related Link > Trademark Status) Step 3: Proceed to E-Register & Trademark Application Status Page: When you click on Trademark Status, a security pop up will emerge prompting you to accept “You are about to proceed to an external website”. Click “YES” to proceed. Your affirmative action would take you to the E-Register & Application Status Page of the Trademark Registry, which is updated on the real time with every act of stakeholders, such as the trademark applicant, attorney or the government authorities. Step 4: Enter the National / International Registration Number: On the E-REGISTER & APPLICATION STATUS page, you will find five options on the left side panel, click on the tab Trade Mark Application/ Registered Mark which is the topmost option. When you click it, you will be taken to the third screen where you can search the Trademark Status based on either National/IRDI Number or International Registration Number. For checking the status of an Indian trademark application, we need to select National/IRDI Number and enter the Trademark Application number and captcha. Step 5: Check the status of Your Trademark Application: After submitting the request the next page shall show the name, application status, and other relevant details of the concerned trademark. Different Statuses of Trademark Application and their Meaning Filed: This status indicates that the trademark application has been submitted to the Indian Trademark Registry but has not yet been examined. Formalities Chk Pass: It means that the application has successfully passed the initial formalities check conducted by the Trademark Registry. Sent for Examination: Once the formalities check is completed, the application is sent for examination to a Trademark Examiner who will review the application in detail. Examination Report Issued: The Trademark Examiner issues an examination report, which lists any objections or requirements that need to be addressed by the applicant. The report is generally issued if there are any discrepancies or conflicts with existing trademarks. Show Cause Hearing: If the applicant disagrees with the objections raised in the examination report, they can request a show cause hearing. This status indicates that the hearing has been scheduled to present arguments and evidence to overcome the objections. Abandoned: If the applicant fails to respond to the examination report or attend the show cause hearing within the specified timelines, the application may be deemed abandoned. Accepted and Advertised: This status signifies that the trademark application has successfully overcome all objections and has been accepted by the Trademark Registry. The mark is published in the Trademark Journal for public opposition. Opposed: If any party opposes the registration of the trademark during the opposition period after publication, the status will show as “Opposed.” The opposition process involves presenting arguments and evidence against the registration. Registered: Once the opposition proceedings are concluded in favor of the applicant or if no opposition is filed, the status changes to “Registered.” The trademark is officially registered and protected under the Indian Trademarks Act. Objected: This status indicates that the Trademark Examiner has raised objections or concerns regarding the trademark application. The objections could be related to conflicting marks, lack of distinctiveness, or other legal or procedural issues. The applicant must address these objections by providing appropriate responses and evidence to support the registrability of the trademark. Send to Vienna Codification: This status indicates that the trademark application has been forwarded to the Vienna Codification section for classification and categorization of the figurative elements of the mark. The Vienna Classification is an international system used for the systematic arrangement of trademarks into classes based on their figurative elements. Marked for Exam: This status indicates that the trademark application has been assigned to a Trademark Examiner for examination. The examiner will review the application and may raise objections or issue an examination report if necessary. Refused: If the Trademark Examiner determines that the trademark application does not meet the requirements for registration, it may be refused. This status indicates that the application has been rejected, and the applicant has the option to file an appeal or make necessary amendments to overcome the refusal. Removed: This status indicates that the trademark application has been removed from the registry due to various reasons such as non-payment of fees, failure to respond to office actions, or failure to meet certain formal requirements. The removal could be temporary or permanent. Withdrawn: If the applicant decides to voluntarily withdraw the trademark application before a decision is made, the status will change to “Withdrawn.” This could be due to various reasons, such as changes in business strategy, conflicts with existing trademarks, or no longer seeking protection for the mark. How can I check the status of my trademark application in India? To

IPINDIA Trademark Status Read More »

National Apprenticeship Training Scheme (NATS)

Government Schemes / CA Bhuvnesh Goyal / April 18, 2024

The Indian Government is looking to increase the number of apprentices from around 14 lakhs in 2022 to 50 lakhs in a few years. This is an ambitious goal, one that demands that employers cooperate and work with the government to achieve it. Employers are opening to the idea of apprenticeship in India, and it is becoming just as popular a concept as internship. What is the full form of NATS? NATS stands for National Apprenticeship Training Scheme. It was instituted by the Government of India in 2006 to give students fresh out of college the opportunity to go in for apprenticeship, learn skills that will serve them for a lifetime and get ahead in their career. Objectives of NATS Not all training that is received in college is useful and such training generally does not let you be job ready. The main objective of the NATS training program is to provide skill training to help people find jobs in the formal sector and vocational skill training for jobs in private institutions. The other objectives of the National Apprenticeship Training Scheme in India are: To enable employers to develop skilled manpower to meet future challenges posed by technological or regulatory changes. To generate job opportunities that are sustainable for marginalized communities, aligning them to office jobs, with preference given to women and those engaged in traditional roles. To create jobs and self-employment for youth, catalysing entrepreneurship and improving wages Features of NATS The scheme provides a period of 1 year to observe the performance of the candidate before making them regular full-time employees. Through the National Apprenticeship Training Scheme, the government pays back the employer 50% of the minimum payment that must be made to the apprentices for their services. The training scheme ensures that there is no shortfall of manpower in the organization to accomplish the tasks. The scheme allows establishments to address even future requirements for human resources. Designated trades are offered by the Government and optional trades by private institutions. Under this scheme, both optional and designated trades have been addressed. If an establishment is operating its business in several states of India, then it can operate on a national basis. How is NATS Beneficial? Employers can address problems with skill gaps, making sure that there aren’t any in the organisation. Employers enrolled with NATS training are exempt from EPF and ESI contributions. A proactive workforce is created through skill development, becoming an asset to the organisation. The cost of hiring comes down rapidly, as apprentices trained through the program start contributing immediately. If the apprentices do not perform to satisfactory levels, then the employer is not committed to employ them. The observed attrition rates after an apprenticeship training program are also low, as apprentices tend to stay loyal to the company. Helps project your brand is one that cares about the local population and wants to engage with them. Eligibility and Requirements for Employers The documents required for eligibility are: Incorporation Certificate. PAN/TAN Last year’s IT returns. Internal committee’s findings regarding any issue of sexual harassment. Total hands employed in on-roll, contractual, and full-time roles etc. Training module for apprentices on a yearly basis. Brief info regarding the establishment (<1MB size). Mobile number to receive OTP. Email IDto receive all the relevant details. Note: All documents must be attested by an authority and office seal must be placed on all of them. Enrolment- After reading the enrolment guidelines clearly, the establishment must then initiate the enrolment process with the eligibility documents ready. They will be asked a series of questions for which they would need to provide inputs. The establishment must then provide each document required to prove their eligibility. An internal committee is also required which must inform the National Apprenticeship Training registration team about any sexual harassment in the company. There must also be a structured apprenticeship training module. If the company lacks one, then it will lead to delays in NATS enrolment. In the company info space, the employer needs to mention the workplace address and the headquarters and the corporate office locations. FAQs What is the salary of an apprentice under the National Apprenticeship Training Scheme? The starting salary of anyone employed as apprentice under NATS is 11,000 in the present year, as announced by the Government of India for a one-year duration. Is NATS certificate valuable? The NATS training programme empowers the youth of our nation by providing them skills that will enable them to secure higher paying jobs over time and maintain a higher standard of living. The certificate from NATS is proof that you have undergone NATS training and is valuable whenever you apply for a job. Practice area’s of B K Goyal & Co LLP Income Tax Return Filing | Income Tax Appeal | Income Tax Notice | GST Registration | GST Return Filing | FSSAI Registration | Company Registration | Company Audit | Company Annual Compliance | Income Tax Audit | Nidhi Company Registration| LLP Registration | Accounting in India | NGO Registration | NGO Audit | ESG | BRSR | Private Security Agency | Udyam Registration | Trademark Registration | Copyright Registration | Patent Registration | Import Export Code | Forensic Accounting and Fraud Detection | Section 8 Company | Foreign Company | 80G and 12A Certificate | FCRA Registration |DGGI Cases | Scrutiny Cases | Income Escapement Cases | Search & Seizure | CIT Appeal | ITAT Appeal | Auditors | Internal Audit | Financial Audit | Process Audit | IEC Code | CA Certification | Income Tax Penalty Notice u/s 271(1)(c) | Income Tax Notice u/s 142(1) | Income Tax Notice u/s 144 |Income Tax Notice u/s 148 | Income Tax Demand Notice | Psara License | FCRA Online Company Registration Services in major cities of India Company Registration in Jaipur | Company Registration in Delhi | Company Registration in Pune | Company Registration in Hyderabad | Company Registration in Bangalore | Company Registration in Chennai | Company Registration in Kolkata | Company Registration in Mumbai | Company Registration in India | Company Registration in Gurgaon | Company Registration

National Apprenticeship Training Scheme (NATS) Read More »

April 2024