May 21, 2024 | CA B K Goyal & Co LLP

Section 19 – THE CONSUMER PROTECTION ACT, 2019

THE CONSUMER PROTECTION ACT, 2019 / CA Bhuvnesh Goyal / May 21, 2024

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RNI Registration in Jaipur, Rajasthan, India

learn / CA Bhuvnesh Goyal / May 21, 2024

The owner must get an RNI registration number from the newspaper’s registrar to start a newspaper, journal, or print publication in India. You must get approval from the registrar of the newspaper before opening a new newspaper, periodical, print, etc., business. The Ministry of Information and Broadcasting regulates the rules and regulations of the RNI under the Press and Registration of Books Act 1867. The importance of RNI is given below: Keep records and maintain all newspaper registrations. Issue the certificates for all registered newspapers. Confirm the circulation claim and other non-statutory functions. If you are interested to create a newspaper, magazine, or news website in Jaipur, Rajasthan, India, you must first register with the Registrar of Newspapers for India (RNI). RNI registration is required for all publications in India and is mandated by the Press and Registration of Books Act, 1867. Meaning of RNI Registration he RNI Registration is the license to print newspapers in India. It is part of the Press and Registration of Books Act, 1867, and is provided by the Registrar of Newspapers in India. Hence, in order to legally begin the process of establishing a newspaper or publication, you must first obtain an RNI certificate. The Registrar of Newspapers for India (RNI) is a legislative institution in India that regulates the registration of newspapers, journals, and other periodicals. To obtain a unique registration number, which is essential for printing and publishing any newspaper or magazine in India, RNI registration is required.Each publication in India, whether a newspaper, magazine, or journal, must have a unique registration number from the Registrar of Newspapers for India (RNI). This registration is required for all printed and published works in India. RNI registration ensures that the publication is legally recognized and protects the rights of the publisher. What are the Requirement for RNI Registration? Any Indian or foreigner will set up a business in India related to newspapers, journals, magazines, etc. They must apply for online RNI registration on the official website, which is mandatory for all publication companies. Online RNI registration is required for the following publications : Indian Newspaper: If any person starts a business of an Indian or regional newspaper in India, it becomes necessary for the owner to get RNI registration. Editorial: Any form of editorial requires an RNI number, including the newspaper. Foreign Newspaper: RNI registration is also mandatory for foreign newspapers. Magazine: Any magazine in any language would need RNI registration in India. What is RNI Registration Responsibilities? These are the responsibilities of RNI Registration in India: Registering Newspapers: RNI provides a certificate to newspapers that follow the rules. Overlook Annual Reports: They check the yearly reports of the newspaper publishers to ensure they follow the Press and Registration of Books Act 1867. Informing Authorities: They tell local leaders about available newspaper names for publishers to use when they declare their newspapers. Ensuring Rules are Followed: RNI online registration ensures that newspapers are published according to the rules and regulations of the Press and Registration of Books Act of 1867. Checking Circulation Numbers: They verify the number of copies a newspaper claims to circulate in their yearly reports. RNI Registration Benefits Title Security: Registering with RNI safeguards the title for publishers, which is essential in the publishing field. Meeting Regulations: Any company publishing newspapers or magazines must follow the Press and Registration of Books Act and its rules. Recognitions: Online RNI Registration recognizes the newspaper or publication business in India, validating its existence and work. Protection from Claims: Registration offers protection against false claims regarding ownership and copyright issues from others. RNI Registration in Jaipur, Rajasthan, India Submission of the Application: Provide detailed information about your newspaper in an application. Title Options: Give up at least five titles for your newspaper and explain why you chose these titles. Title Eligibility Check: You must ensure that the words in the title meet all the essential criteria. District Magistrate’s Verification: Your application verification is done by the District Magistrate and then forwarded to the RNI. Online Registration with RNI Authorities: Declaration Validation: Verify your details using Form-I. Separate Declarations: If applicable, you must submit different declarations. First Issue Release: Publish the first issue within a timeline according to publication frequency. Certificate Issuance: Once your application gets verified, the RNI grants a Certificate of Registration as proof of compliance. Verification of Title: What are Documents Required for RNI Registration? Before Registration: Title Verification Letter. Validated declaration from District Magistrate. Notarized affidavit for no foreign tie-up. First issue copy. Printer agreement and press details. Company or Proprietorship Documents: COI, MOA, AOA with director details. Partnership Deed and PAN for partnerships. Board resolution for companies. ID and address proof of directors, partners, and proprietor. After Registration: Duly filled Form No. IV for the first issue. Annual statement in FORM II by the end of May. FAQs Why is RNI important? The establishment of the RNI office started from the recommendations of the First Press Commission in 1954. It was proposed to create a statutory authority for gathering reliable statistics about the Indian press Who regulates the RNI? The Press and Books Registration Act of 1867 oversees the launch and publication of new newspapers, magazines, or periodicals. It establishes the Registrar of Newspapers in India under the Ministry of Information and Broadcasting as the regulatory authority. 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 |

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GST Payment Modes

Goods & Service Tax / CA Bhuvnesh Goyal / May 21, 2024

For businesses and professionals, paying GST (Goods and Services Tax) is part of meeting tax requirements in the supply chain. Hence, it is important to know the GST payment process step-by-step. The government has made it easier by providing both online and offline options for making GST payments, giving taxpayers flexibility. To pay online, log in to the GST portal, go to the ‘Payment’ section, generate a challan, choose the tax period, and pay using internet banking, debit/credit card, or other digital payment methods. On the other hand, the offline method allows one to go to a bank branch, generate a challan and pay GST dues in person. What Is GST Payment? GST payments are the tax payment made by businesses to the government based on the goods and services they provide. Paying GST involves figuring out how much tax one owes after subtracting input tax credit. If you’re curious about what is Input Tax Credit, you can refer to this Input Tax Credit guide. Companies and individuals registered with GST need to file GST returns mandatorily detailing their sales, purchases and tax payments. To determine the amount for GST payment, tools like GST Calculator Online can be utilised. The GST number search tool is also available for looking up GSTIN online. Additionally, incorporate factors such as interest charges on delayed payments, late fees for delay in filing GST returns, and TDS/TCS charges, if applicable, while making GST payment calculations. Once the GST amount is accurately calculated, taxpayers can proceed with the online payment process, ensuring compliance with the Goods and Services Tax regulations. GST Payment Processes for Different Taxpayers 1. Regular Taxpayer For a regular taxpayer, a PMT-06 challan is required for making payment to the cash ledger. This is required when they are filing the GSTR-3B, every detail of which will be provided in the form. They can also create the challan and make payment either before or post login or even while filing the return for GSTR-3B. 2. Quarterly Taxpayer Taxpayers who have chosen the QRMP Scheme fall under this category. The tax for the first 2 months of the quarter must be deposited using the PMT-06 challan, and the payment must be made during the last month of the quarter while filing the GSTR-3B. The tax must be paid by the 25th of the succeeding month for the first and second months of the quarter. For example, April and May for the April to June quarter. 3. Nil GST Return Taxpayer Whether for a month or a quarter, these taxpayers do not have any purchase, sale or tax payable for the respective period. Therefore, they are not required to make the payment or generate a challan. 4. A Taxpayer Under the Composition Scheme Such taxpayers are required to summarise their turnover or sales during a quarter and generate the CMP-08 challan for paying tax. For example, the April to June quarter’s tax must be paid by 18th June under the Composition Scheme. What Are the Modes of GST Payment? 1. Online Payments GST payment online includes: Net banking Debit card/Credit card (Not activated) IMPS (Immediate Payment Service) UPI (Unified Payments Interface) Online GST payment through Internet banking is a seamless process. Log in to your bank’s website or mobile app, navigate to the tax payment section, and select GST as the tax type. Enter the challan details, like GSTIN, tax period, and the amount payable. Confirm the details and proceed with the payment. For taxpayers who generate challans without logging into the GST portal, making the payment promptly is crucial. After generating the challan, visit your bank’s website or app, select the challan payment option, and enter the challan details. Complete the payment to avoid any late fees or penalties. 2. Offline Payments There are two offline payment options available for GST payment: Over-the-counter payment (Cheque/Demand Draft/Cash): This mode involves physical payment using a Cheque, Demand Draft, or Cash at authorised banks. NEFT/RTGS (National Electronic Funds Transfer/Real Time Gross Settlement): These methods enable electronic fund transfers between banks. Over-the-counter (OTC) payments are accepted up to a maximum limit of ₹10,000 per transaction. Processing time is typically 2-3 business days. For NEFT/RTGS transfers, you’ll need to generate a Unique Transaction Reference (UTR) number from your bank. This UTR must be linked to your payment during the submission process to ensure seamless reconciliation. Electronic transfers are generally processed within one business day. How to Pay GST Online? 1. Visit the official GST portal Go to the official GST portal at https://www.gst.gov.in/. 2. Navigate to the “Payments” section Navigate to the ‘Services’ tab and select ‘Payments’ from the drop-down menu. 3. Click on “Create Challan” Under the ‘Payments’ section, click on the ‘Create Challan’ option. 4. Enter GSTIN Number Once you clicked on create challan, This will prompt you to enter the GSTIN number. Once you have entered the Id, click to proceed. 5. Fill in challan details You will be prompted to fill in details such as the type of tax like CGST, SGST, IGST and other relevant information. Ensure that all fields are filled out accurately. 6. Choose a payment method After filling in the challan details, choose a payment method. GST payments online can be made through various modes, such as Net Banking, Debit/Credit Cards, etc., or over-the-counter at authorised banks. 7. Make the payment If you pay GST online, you will be redirected to a secure payment gateway. Enter the payment details and follow the instructions to complete the transaction. 8. Generate challan counterfoil A challan counterfoil will be generated after successful payment. Download and save this counterfoil for your records. It serves as proof of GST payment. 9. Track payment status To ensure your payment has been successfully processed, go to the “Track Payment Status” option on the GST portal. Enter the Challan Identification Number (CIN) to check your payment status. FAQs Is it mandatory to make GST payments through the online portal? GST payments can be made via online or offline methods. For both modes, a challan must be generated compulsorily on the GST Portal. It’s obligatory to pay taxes online if the

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Tamil Nadu Caste Certificate

Government Schemes / CA Bhuvnesh Goyal / May 21, 2024

In India there are different castes present in India. Based on caste there will be some special categories known as reservations, back ward classes and scheduled castes and scheduled tributes will get more advantage than other castes. In this article you will get information about Tamil Nadu Caste Certificate.Tamil Nadu Community Certificate is an official statement provided to the citizen by the state government confirming his/her caste and community. A Community Certificate is the proof of one’s belonging to a particular caste and community, especially in case one belongs to any of the ‘Scheduled Castes’, ‘Scheduled Tribe’ and the Backward Class as specified in the Indian Constitution. Documents Required for Community Certificate in Tamil Nadu The following documents are required for a Community Certificate in Tamil Nadu. Photo Any Address Proof Community Certificate of Father or Community Certificate of Mother or Community Certificate of Siblings Self-Declaration of Applicant DNC (De Notifified Community) Certificate Application Process For BC, SC or ST Categories The following are the steps involved in applying for caste certificate for BC, SC or ST categories: Step 1: Visit the Government of Tamilnadu official website using the link: http://www.tn.gov.in/ Step 2: Click on the link ‘more’ under the forms section on the webpage and type ‘community certificate’ on the search bar. Step 3: Click on the ‘community certificate’ link to download the application form. The applicant should write the necessary information correctly, including the following: Applicant’s name Father or Husband’s name Sex (Female or Male) Residential address Ration card number Details of community certificate of parents Details of school certificates of parents Date of application Step 4: After filling the information, the applicant should sign the form. The applicant has to attach the necessary documents to it. Step 5: The completed and signed form, along with the documents, should be submitted to the respective revenue talk office. The application submitted will be processed, and if it is successful, the community certificate will be obtained within 30 days. For OBC Categories Step 1: Visit the e-Sevai web portal using the link: https://www.tnesevai.tn.gov.in/ Step 2: Click on the button ‘Citizen Login’ and enter the correct login username and password. Step 3: Now enter the Captcha code and click on the ‘Login’ button. Step 4: Once the e-Sevai dashboard appears, click on ‘Services’ option on the left-hand side of the screen. Step 5: The list of department wise services will appear. Select the ‘Revenue Department’ option. Step 6: Next, click on ‘REV-115 Other Backward Classes (OBC) certificate’ link. It will automatically redirect the applicant to the service page on the Tamilnadu e-District web portal. Step 7: To continue, click on the ‘Proceed’ button. Step 8: The applicant search form will open. The following details of the applicant are necessary to perform the search: CAN (Common Account Number) Name Father name Mobile number Email ID Date of Birth Note: CAN number is mandatory to apply for OBC Caste Certificate. If anyone already has one, please skip the next step and go to Step 10. If not, then please register for CAN as mentioned in the following step and then apply for OBC Certificate. Step 9: To register for CAN, click on the button ‘Register CAN’, fill the required details on the form and click on the ‘Register’ button to submit the CAN form. Step 10: If the applicant has registered with CAN, his or her details will appear in the search results. Click the ‘Option’ button to select the record and click on ‘Proceed’. Step 11: The ‘Edit CAN detail’ lets the applicant edit the CAN details. If they are correct, the applicant can go to the next step. Step 12: The details of the applicant will appear pre-filled in the form, which is not editable. If all the details are correct, accept ‘Declarations’ and click on ‘Submit’. Step 13: Attach the required documents in the prescribed file size and file type. Step 14: The payments page will open, showing the total fees on the screen. Click on ‘Confirm Payment’. Then, click on ‘Print Receipt’ to download or print the receipt. Step 15: Click on the ‘Submit’ button to submit the application, which will then be saved as a draft. This can be viewed under the “Saved Application’ section, and the current status can be checked using the ‘Check Status’ section. FAQs How to apply for a smart ration card online? You can apply for a smart ration card online through the TNPDS portal by registering as a new user and filling up the application form with the required details. How to change the address or other details in my smart ration card? You can change the address or other details in your smart ration card by logging in to the TNeGA portal and selecting the ‘REV-107 Family Migration Certificate’ service under the ‘Revenue Department Services’ category. 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Minutes of Meeting

Companies Act 2013 / CA Bhuvnesh Goyal / May 21, 2024

Meeting minutes are notes that are recorded during a meeting. They highlight the key issues that are discussed, motions proposed or voted on, and activities to be undertaken. The minutes of a meeting are usually taken by a designated member of the group. Their task is to provide an accurate record of what transpired during the meeting.Meeting minutes are an important resource in many workplace settings. Recording the details of a meeting can help team members who may have been absent or need to reference a previously discussed topic. It takes some training to learn how to take minutes during a meeting and format them professionally. Some jobs may emphasise this skill more than others, such as executive assistants or administrative professionals. What Are Meeting Minutes? Meeting minutes are notes taken during a company meeting. These notes serve as a record of the decisions made, actions planned and steps taken during the meeting. Typically, an attendee takes meeting notes during a meeting and types those in an easy-to-read format after the meeting. Then the attendee sends the meeting minutes to a senior leader for approval. Once approved, the meeting minutes can be distributed to others and filed away.Meeting minutes dictate the actions that take place during the meeting, including assigned projects, delegated work and other important workplace decisions. This also helps employees who attended the meeting remember important discussion topics. Steps Involved in Recording Meeting Minutes There are five main steps involved in recording the minutes of a meeting. They are: Pre-planning Record-taking Writing or transcribing the minutes Sharing meeting minutes Filing or storage of minutes for referencing in the future Pre-Planning If a meeting is well-planned in advance, taking minutes will be a lot easier. That said, the chairperson and the secretary or minutes-recorder should work together to determine the agenda of the meeting beforehand. For example, the person recording minutes could work with the chair to draft a document that will serve as an agenda and provide the format for the meeting. Meeting Agenda If it’s not possible for the chair and secretary to meet and come up with a draft, then it’s up to the secretary to get a copy of the agenda before the meeting starts. The meeting agenda will serve as a guide for how to take notes and prepare the minutes. In addition, the agenda also includes other details, which need to be incorporated in the minutes. They include: Names of all the members present – includes guests and speakers Documents that may be handed out as the meeting progresses, such as copies of a list of proposals to be voted on Expectations When an individual is chosen as the minutes recorder, it’s important for them to know what is expected of them. Therefore, the individual should approach the chair of the committee and ask what their role in the meeting will be. For example, if the meeting will involve proposing motions, the designated member should inquire as to whether he should include the names of those proposing motions and those seconding. What to Include in Meeting Minutes Before recording any details, a designated minutes recorder should familiarize themselves with the type of information that they should record. A group may be using a specific format to record notes but, overall, the minutes of a meeting typically include the following details: Date and time the meeting happened Names of attendees, as well as absent participants Acceptance of, or amendments made to, the previous meeting’s minutes Decisions made regarding each item on the agenda, such as: Activities undertaken or agreed upon Next steps Outcomes of elections Motions accepted or rejected New business Date and time of the next meeting Importance of meeting minutes Helps keep track of the team’s progress Meeting minutes can be a vital tool for keeping tabs on the progress of each team member and their schedules. It serves as a map for your team towards accomplishing each task or goal. It can also be a helpful review tool, to see how far you have come as a team and review important votes or milestones at later dates. Acts as a reminder You and your team can forget what you have discussed, agreed upon or decided in your last meeting. With meeting minutes, you can easily check back on those at a later time. Meeting minutes can also help you remember the date and time of your next meeting. Acts as a reference for absentees Meeting summaries can be helpful tools for bringing absentees up to date with the organisation’s proceedings. A simple follow-up email with the minutes attached can ensure that no one gets left behind in pursuing company goals. Saves time Meeting minutes can work as a single source of truth for the entire team. With each member aware of their responsibilities, accomplishing goals and meeting deadlines becomes easier. The document helps remove unnecessary information and streamlines the overall functioning of the team. It also helps your team save time on planning because they do not have to revisit previously discussed topics. Serves as corporate defence As companies that expand and diversify, they may face some litigations and civil suits. Meeting minutes can serve as a solid record of intent in such cases, allowing the authorities concerned to pinpoint all relevant details and proceedings. Usually, the members of the meetings vote to approve the minutes before their next meeting. This can ensure minutes are accurate if they are needed later for evidence. The Process of Writing Meeting Minutes When the meeting ends, the individual tasked with writing minutes should get all the resources he needs to write up the minutes in a clear, presentable way. Here are some tips to consider: Once the meeting ends, don’t take too long to write the minutes. This way, everything that took place in the meeting is still fresh in your mind. Review the outline that had been created earlier and make adjustments where necessary. This might include adding extra information or clarifying some of the issues raised. Also,

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Biju Krushak Kalyan Yojana

Government Schemes / CA Bhuvnesh Goyal / May 21, 2024

Biju Swasthya Kalyan Yojana (BSKY) was launched by the Hon’ble Chief Minister of Odisha on 15th August 2018, as a path-breaking program to provide universal health coverage, with special emphasis on the health protection of vulnerable families and women. The objective of this scheme is to protect economically vulnerable families from falling into this poverty trap by catastrophic health expenditure. In the “Cashless Health Care in Impaneled Private Hospitals” component, the State Government will bear the cost of healthcare provided in empanelled private hospitals for identified economically vulnerable families in the State, for annual health coverage of ₹ 5,00,000 per family and an additional ₹ 5,00,000 for the women members of the family after exhaustion of the initial limit. Since its inception, the BSKY has launched a new era in Universal Health Coverage, with over 45,00,000 instances of cashless treatment being provided each month. Benefits of the Scheme For convenience, the treatment package is given to the farmers under the two streams of BKKY Stream 1 and BKKY Stream 2. BKKY Stream 1: This package will cover the treatment expenses of surgery and maternity including the newborn care up to Rs. 30,000 / – per annum. Moreover, it covers the treatment cost of the drugs, medicine, general ward bed, registration, doctors, surgeons, X-ray, blood test, food, specialists and transportation cost up to Rs. 1,000 per annum. BKKY Stream 2: This package will cover the treatment cost up to Rs. 70,000/- per annum. The benefits are same as the package of stream 1 but it provides the features of ICU (Intensive Care Unit) for the emergency cases. Note:- Beneficiaries of Rashtriya Swasthya Bima Yojana (RSBY) are not eligible to claim benefits under the BKKY Stream I. Eligibility For the referral of the patient to the empanelled private hospital for treatment The referral will be done if the particular package/ procedure cannot be provided by a Government facility in the district. Cases will be referred if there is a long waiting time to undertake the procedure at a Government facility in the district. Where there is an emergency case that requires immediate referral. Referral process under BSKY is decentralized up to the Sub-Divisional Hospital level. The following authorities have been designated to issue referrals to beneficiaries under BSKY. a) District Headquarter Hospital: CDM & PHO/ District Medical Officer-cumSuperintendent & concerned Specialist b) Sub-divisional Hospital: Superintendent & concerned Specialist c) All Govt. Medical College & Hospitals: Superintendent & HoDs of concerned Department of the Medical College & Hospitals Implementation Process The hospital should maintain the diagnostic units, pharmacy, and cashless treatment. Fax facility and telephone service should have installed in the hospitals, nursing homes and medical centers. Treatment data of the beneficiary and the details of the insurer should be recorded in the concerned medical institutions. The hospital should have operation theatre for the surgical cases and reserved at least 10 beds in the general ward. Well-trained doctors and experienced nurses are mandatory. The concerned medical institution should file all the financial transaction in the Income Tax Department. Enrolment Procedure Step 1: The applicant should visit the nearby insurance company to register. Step 2 : After the registration the Field Key Officers (FKO) will verify the details of the applicant. Step 3 : After the verification the Smart Card will be issued to the applicant through the insurance company. The applicant can use the smart card to obtain cashless treatment in the hospitals. The smart card can be renewed after the year by the concerned insurance company. FAQs What Are The Benefits Of The Biju Swasthya Kalyan Yojana Scheme? A. All health services charges are borne by the State Government, including those for drugs, diagnostics, dialysis, Cancer chemotherapy, OT, I.C.U, in-patient admission blood bank services, etc., in all government health institutions up to Government Medical College Hospital level, for all persons. B. Families having BSKY Smart Health Card can avail of cashless treatment at any impaneled private hospital under BSKY within or outside the State. Cardholder families can help with facilities such as registration, consultation, medical tests, pathologies, treatment, IPD, and follow-up consultation under BSKY at any impaneled private hospital. State Government will bear the cost up to the annual coverage amount. Who Is There To Facilitate At The Point Of Service? Swasthya Mitras are deployed at each help desk of impaneled private hospitals to facilitate the beneficiaries. 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Director of a Private Limited Company

Companies Act 2013 / CA Bhuvnesh Goyal / May 21, 2024

In India, numerous private limited company has captured significant market shares in their specific sectors. This success is hugely credited to the Directors who play a massive role starting from the incorporation stages to activities that are a part of the post-incorporation stage. A company is an artificial judicial person managed and run by natural persons known as directors. A company’s management is entrusted to its board of directors. A board of directors is a collective body of individual directors of a company. Situations may arise where a company may be required to appoint more directors to its board from time to time based on the requirements of the business or company shareholders. However, the appointment of directors must be according to the Companies Act, 2013 for it to be legally valid. Meaning of Director in Private Limited Company Companies Act, 2013 defines the term “Director” as someone appointment to the Board of a company. The Board of Directors means a group of those individuals elected by the shareholders of a company to manage the affairs of the company. Since a company is an artificial legal person created by law, it is necessary to act only through the agency of natural persons. It can only act through human beings, and it is the Directors through whom mainly the company acts. Therefore, the management of a company is entrusted to a body of persons called “Board of Directors”. Another definition of a Director is someone who administers, controls or directs something, especially a member of a commercial company; one who supervises, controls or manages; a person elected by the shareholders of a company to direct company’s policies; person appointed or elected according to law, authorised to manage and direct the affairs of a company. Importance of the Director When we refer to the Companies Act (2013), we find the meaning of the terminology “Director”. A Director is someone who forms the company’s Board. Similarly, when we hear the term “Board of Directors”, it simply infers a collection of these people who are elected by the company’s shareholders to look after the administrative and financial affairs of the business. We must remember the fact that companies are separate virtual legal entities protected under the legislation, therefore, it is essential to reconcile related events through an agency of human beings. For this reason, Directors are designated through whom the company predominately operates its ventures. In a nutshell, the managerial aspects of any private limited company are handed over to a group of members who are referred to as the Board of Directors. There is the second description of a director of the company where we learn that the Director is a person who monitors, controls and passes commands to coordinate the internal processes. He/she is a member of that company and has been employed by collecting consent from the shareholders to supervise and suggest improvements to the company’s policies and principles. Legal jurisdiction is strictly maintained while electing a Director as this person is held responsible for the performance of a business. Becoming Director in Private Limited Company For a person to become a Director in Private Limited Company, he/she requires a Director Identification Number (DIN Number). DIN Number can be obtained for any person over the age of 18 by applying to the DIN Cell. Types of Director in Company Managing Director In private limited companies, an individual is elected as a Managing Director through various pathways. Here are the probable ways: Agreement signed with the company An election conducted among the existing Board of Directors Execution of a company’s Articles of Association Resolution enacted in one of the General meetings Once, you are elected as a managing director of the company , you receive substantial authority in influencing the company’s commercial affairs. Ordinary Director The term “ordinary director” is attached to the name of a Board member who witnesses the Company’s Board meetings and regularly contributes to the arguments presented before the group of Directors. Ordinary Directors do not belong to the category of Executive Directors or Managing Directors. Executive Director The person marked as an executive or whole-time Director, works for the commercial entity as a full-time employee. He/she authorizes the key administrative actions by predicting their subsequent effects. Additional Director The Company’s Board of Directors appoints an additional director between consecutive annual general meetings. The election method is regulated according to the prerequisites of the company’s Articles of Association. These directors are required to report to the office till the date fixed for the upcoming annual general meeting. The total volume of additional directors and actual Directors must not surpass the allowed strength restricted for the private limited company’s Board of Directors. Professional Director Directors who passively contribute to the Company’s performance by sharing their field expertise and do not hold commercial interest in the course of business, are termed professional directors. They have degrees and work experience that favour their candidature for such professional roles. Large companies hire them to solve pressing issues. Nominee Director Financial institutes and equity investors who award debt and equity support to companies usually put forward an obligation to employ one of their personnel as a Board member of the respective corporate body. These nominated individuals operate as nominee directors. Apart from all these types, there are even alternate directors. They are the people who substitute ordinary directors when they fail to contribute for a timeframe of more than 90 days. We witness the election of nominee directors generally for NRIs (Non-Resident Indians) and foreign corroborators linked to a business. Maximum and Minimum Number of Directors in Private Limited Company Only an Individual (living person) can be appointed as a Director in a Company. A body corporate or business entity cannot be appointed as a Director in a Company. A company can have a maximum of fifteen Directors – it can be increased further by passing a special resolution. Minimum Number of Director in Company are as follows: Private Limited Company – Minimum two Directors in case of Private

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