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Regulation 32 of the SEBI (Listing Obligation and Disclosure Requirements) Regulations, 2015 (SEBI LODR, Regulations, 2015) requires every Listed Entity to submit a Statement of Deviation or Variation in the use of proceeds raised from a public offering, rights offering, preferential offering, or Qualified Institutions Placement, as opposed to what is stated in the offer document or explanatory statement to the notice calling the general meeting, as applicable. Important Terms with respect to Regulation 32 of SEBI LODR The following are the important terms that one should keep in mind: Statement of Deviation: This is required when the proceeds are used for purposes other than those specified in the offer document or the explanatory statement attached to the notice convening the general meeting. Statement of Variation: It is required when there is no difference between the objects for which the proceeds are to be used and the actual category-wise utilization of funds [Capital Expenditure, Sales, Marketing, Working Capital, etc.] stated in the offer document or the explanatory statement annexed to the notice calling the general meeting. As a result, we may state that a Statement of Divergence is required when there is a deviation in the purposes for which proceeds are to be used, and a Statement of Change is required when there is a variation in the categorical usage of money. Regulation 32 of SEBI LODR Regulation 32 of the SEBI LODR states that when a listed entity raises funds through a public, right, or preferential issue, Qualified Institutions Placement (QIP), and the proceeds from such issue are used for a purpose other than what is stated in the offer document, or for a purpose other than what is stated in the explanatory statement to the notice issued for calling the General meeting for taking shareholders’ approval, (Deviation(s) OR if there is any difference in the category-wise allocation of such revenues (Capital Expenditure, Sales and Marketing, Working Capital) from what is described in the offer document or explanatory statement accompanying the notice issued for summoning the General Meeting, (Variation(s)) The following mandates are also incorporated under Regulation 32 of SEBI LODR: Disclosure: Accordingly, the listed entity shall be required to submit a statement of such deviation(s) or variation(s) to the stock exchange on a quarterly basis, along with the declaration of financial results, within 45 days from the end of each quarter / 60 days from the end of the last quarter of the fiscal year, until the proceeds are fully utilized or the purpose has been achieved. Role of the audit committee: In addition, prior to submitting the aforementioned statements to the stock exchanges, such Statement of Deviation/ Variation Report shall be placed before the Audit Committee on a quarterly basis for their review, and after such review, the Statement, along with the Audit Committee’s comments, if any, shall be disclosed or submitted to the stock exchange in the prescribed format as per SEBI Circular bearing reference no. CIR/CFD/CMD1/162/2019 dated In addition, any variances should be explained in the Directors’ Report part of the Annual Report.Furthermore, the listed entity must prepare an annual statement of funds used for purposes other than those specified in the offer document or explanatory statement to the notice, have it certified by the listed entity’s statutory auditors, and present it to the Audit Committee for review until the entire amount raised through the issue has been fully utilized. Role of Monitoring Agency: If the Listed Entity has selected a monitoring agency to oversee the use of proceeds from public or rights offerings, the listed entity must disclose to the stock exchange(s) any comments or reports received from the monitoring agency within 45 days of the end of each quarter. If the listed business has selected a monitoring agency to oversee the use of proceeds from a public offering or rights offering, the monitoring agency’s report must be presented to the Audit Committee on a quarterly basis, as soon as it is received.If the business raised funds through Preferential Allotment or Qualified Institutional Placement, the listed entity must disclose the usage of such funds in its Annual Report each year until such funds are entirely utilized. Now the question is when the listed entity is required to appoint a monitoring agency, as per SEBI [ICDR] regulations 2009 amended wide 2017 amendment, where if the issue size exceeds one hundred crore rupees, the issuer shall make arrangements for the use of the issue proceeds to be monitored by a Monitoring Agency [credit rating agency registered with the Board]. Disclosure Format (PDF & XBRL Mode): Because no format of statement of deviation/ variation has been defined since the application of Listing Regulations, i.e. December 2015, all listed companies have been making disclosure under Regulation 32 in their own formats and at random on a quarterly basis. As a result, SEBI has suggested a common format for revealing the statement of deviation/ variation in order to introduce consistency in the manner and frequency of reporting. SEBI has specified the PDF format on Statement of Deviation or Variation for proceeds of a public offering, rights issue, preferential issue, Qualified Institutions Placement (QIP), etc. in its Circular bearing reference no. CIR/CFD/CMD1/162/2019 dated December 24, 2019.Furthermore, with immediate effect, the Exchange has introduced the facility of filing Statement of Deviation or Variation in XBRL mode under Regulation 32 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 in order to make disclosure more accurate and efficient. As a result, it has been agreed that all listed companies must make Statement of Deviation or Variation (Regulation 32) filings in XBRL format in addition to PDF filings.As a result, listed companies must submit a Statement of Deviation or Variation in PDF mode in addition to the submission of financial results in PDF mode, and a Statement of Deviation or Variation in XBRL mode in addition to the submission of financial results in XBRL mode. Penalty for Non-Compliance: Disclosures should be as consistent as possible to avoid misunderstanding. One important point that listed companies should be aware

MINISTRY OF CORPORATE AFFAIRSNOTIFICATIONNew Delhi, the 28th August, 2019 S.O. 3119(E).—In exercise of the powers conferred by sub-section (1) of section 435 of the Companies Act,2013 (18 of 2013), the Central Government with the concurrence of the Chief Justice of the High Court, Bombay, herebymakes the following amendments in the notification of the Government of India, Ministry of Corporate Affairs, vide2 THE GAZETTE OF INDIA : EXTRAORDINARY [PART II—SEC. 3(ii)]number S.O. 1796(E), dated, the 18th May, 2016, published in the Gazette of India, Extraordinary, Part II, Section 3,Sub-section (ii), namely:-2. In the said notification, in the Table, against Sl. No. 2, in Column (3), for the entries, “State of Maharashtra”the entries, “Whole State of Maharashtra except Pune, Ahmednagar, Kolhapur, Solapur, Satara, Sangli, Ratnagiri andSindhudurg districts of the State of Maharashtra” shall be substituted. [F.No. 01/12/2009-CL-I (Vol.IV)]K.V. R. MURTY, Jt. Secy 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 in Noida | Company Registration in lucknow Complete CA Services CA in Delhi | CA in Gurgaon | CA in Noida | CA in Jaipur | CA Firm in India RERA Services RERA Rajasthan | RERA Haryana | RERA Delhi | UP RERA Most read resources tnreginet |rajssp | jharsewa | picme | pmkisan | webland | bonafide certificate | rent agreement format | tax audit applicability | 7/12 online maharasthra | kerala psc registration | antyodaya saral portal | appointment letter format | 115bac | section 41 of income tax act | GST Search Taxpayer | 194h | section 185 of companies act 2013 | caro 2020 | Challan 280 | itr intimation password |  internal audit applicability |  preliminiary expenses |  mAadhar |  e shram card |  194r |  ec tamilnadu |  194a of income tax act |  80ddb |  aaple sarkar portal |  epf activation |  scrap business |  brsr |  section 135 of companies act 2013 |  depreciation on computer |  section 186 of companies act 2013 | 80ttb | section 115bab | section 115ba | section 148 of income tax act | 80dd | 44ae of Income tax act | west bengal land registration | 194o of income tax act | 270a of income tax act | 80ccc | traces portal | 92e of income tax act | 142(1) of Income Tax Act | 80c of Income Tax Act | Directorate general of GST Intelligence | form 16 | section 164 of companies act | section 194a | section 138 of companies act 2013 | section 133 of companies act 2013

Retail, by definition, is the sale of goods or service from a business to a consumer for their own use. A retail transaction handles small quantities of goods whereas wholesale deals with the purchasing of goods on a large scale. Retail transactions are not to be confused with online transactions; goods must be sold from a single point directly to a consumer for their end users. A retailer is a person or business that you purchase goods from. Retailers typically don’t manufacture their own items. They purchase goods from a manufacturer or a wholesaler and sell these goods to consumers in small quantities. Retailing is the distribution process of a retailer obtaining goods or services and selling them to customers for use. This process is explained through the supply chain. What Is Retail? A retail business is the sale of items and services in small quantities to customers in-store or online. Grocery, clothing, and drug stores are examples of retail. The Importance of the Retail Industry Retail stores play a crucial role in the everyday life of modern people. Retailers enable consumers to access a wide variety of products and services worldwide. The retail business helps support the country’s economy and create additional workplaces. First of all, the retail industry is about customers’ convenience. Retailers bring ready-to-consume products to people and let them get everything they need for their happy living. Customers don’t have to wait for a long time. They can visit a grocery, clothing, convenience, or drug store to have the products they need now. Besides, retailers often offer delivery to the customer’s doorstep. The retail business is a part of a bigger system called a supply chain. Retailing is a crucial part of the supply chain since it links a manufacturer with a consumer. Retailers contact vendors and buy products in large quantities. After, they sell these items in small amounts to customers to obtain profit. After making a deal with a manufacturer, businesses can offer consumers a wide range of products. The retail industry influences the economic development of a country. Stores sell goods and pay taxes to the country’s budget. Retail companies provide people with jobs. The level of unemployment decreases. Now that you know the importance of the retail industry, it’s time to unveil the types of retail business. If you are still deciding which store to open, it’ll be useful to find out the features of each, so let’s dive into the next section. Types of Retail Business In this section, we’ve gathered the most popular stores people open most often. It’s time to identify a business that will meet your profit expectations. Convenience store. It is a store in your area with all the essential items you need regularly. A convenience store is often a small place with a limited number of product categories. It can have only 2-3 types of each product, but you’ll find this store almost everywhere in any city or country. You don’t have to go to the supermarket, check in your bags, or wait in a long queue to buy milk. It’s better to go to a convenience store near your house. Specialty store. This store specializes in one or two product categories. Its main advantage is the availability of items you can’t find in the market. Examples of especially stores include florists, furniture stores, sporting goods stores, bookstores, etc. For instance, if you need a specific book, you better go to a bookstore. Supermarkets and malls don’t offer much choice of books. Supermarket. It’s a marketplace with various product categories and product lines. The choice is diverse. In a supermarket, people can find everything they need for their homes: fruits, vegetables, bakery, sweets, detergents, coffee, home appliances, dishes, and many other products. People shop at a supermarket to refill their home inventory. They find everything in one place. Customers don’t need to go to several stores to buy all products. It’s convenient and time-saving. Supermarkets encourage consumers to come back by offering discounts, promos, and unique products. Drug store. It’s a store that sells medicine. The store has a wide choice of drugs to fulfill people’s needs every day. Besides pharmaceuticals, drug stores offer health and beauty products, water, snacks, and sunscreens, and have a pharmacist who can give a piece of advice. eCommerce store. It’s an online store that sells products and services on the internet. Customers who can’t find a specific item in stores will find it online because of the choice modern platforms offer. They deliver items from different countries. Famous examples of eCommerce stores include Amazon and Alibaba. Today, Amazon holds a huge market share of retail business and is at the top of customers’ minds. The tendency of going online and having high profits will soon encourage all retail stores to sell products from a website. Discount store. This store offers a great variety of products with a good discount to hook customers’ attention. Discount stores provide great discounts because they buy products from manufacturers in big volumes at a low price. These stores have low selling prices, and low margins, and sell products in significant volumes. Walmart is the most recognizable example of a discount store. Retail Business Ideas Cosmetic store. The beauty industry is getting stronger every year with an annual growth rate of 4.75% worldwide. If you have a big budget and want to target the luxury segment, you can sell branded cosmetics. When targeting people with average incomes, it’s advisable to sell mass-market beauty products. Explore the market to understand the demand in your location. If you don’t offer luxury or amazing high-quality products, you can always surprise your consumers with excellent customer service. Come up with a personalized greeting, instantly address customers’ shipping issues, listen to consumers, and ask for feedback.  Sports shop. If you are fond of sports, it’s an excellent idea to open a sports shop. Your knowledge and skills will help you choose the right products and enable customers to purchase the best options among available items. However, before you decide to start this business, conduct

The honey market in India size reached INR 25.2 Billion in 2023. Looking forward, IMARC Group expects the market to reach INR 48.6 Billion by 2032, exhibiting a growth rate (CAGR) of 7.3% during 2024-2032. The rising prevalence of chronic medical ailments, several product Innovations and variants, and the implementation of government of India (GoI) initiatives and training programs are some of the major factors propelling the market. Beekeeping in India has been mentioned in ancient Vedas and Buddhist scriptures. Rock paintings of Mesolithic era found in Madhya Pradesh depict honey collection activities. Scientific methods of beekeeping, however, started only in the late 19th century, although records of taming honeybees and using in warfare are seen in the early 19th century. After Indian independence, beekeeping was promoted through various rural developmental programs. Five species of bees that are commercially important for natural honey and beeswax production are found in India. Report Attribute  Key Statistics  Base Year 2023 Forecast Years 2024-2032 Historical Years 2018-2023 Market Size in 2023 INR 25.2 Billion Market Forecast in 2032 INR 48.6 Billion Market Growth Rate 2024-2032 7.3% Honey is a natural sweet substance produced by bees from the nectar of flowers. It is a viscous liquid with a rich, golden color and a distinct, sweet taste. Bees collect the nectar from flowers and carry it back to their hive, where they process it through enzymatic actions and evaporation, this transformation converts the nectar into honey, which is then stored in honeycombs. Additionally, it is consumed by humans for thousands of years and is essential in various cultures as a food source and traditional remedy due to its potential health benefits which is influencing the market growth. Also, honey contains various vitamins, minerals, antioxidants, and enzymes, and often used as a natural sweetener in foods and beverages (F&B), as a spread on bread or toast, or as an ingredient in cooking and baking. Indian Honey Market Trends/Drivers: The escalating demand for healthier food option The rising prevalence of chronic medical ailments, such as diabetes, heart disease, and cancer, is due to the rising sedentary lifestyles, unhealthy diets, and the growing geriatric population is increasing the demand for healthier food options that can help manage or prevent these ailments. Moreover, honey, with its natural composition and potential health benefits, is gaining popularity as a healthier alternative to refined sugar and artificial sweeteners. Besides this, honey is believed to have various properties that can positively impact these conditions, such as its low glycemic index and antioxidant properties accelerating the market growth. Along with this, consumers are incorporating honey into their diets as a natural sweetener and are also seeking honey-based products marketed specifically for managing these chronic ailments which is expected to continue driving the growth of the Indian honey market. Product innovation and introduction of different variants Product innovation and the introduction of different variants are essential factors contributing to the growth of the Indian honey market. Additionally, key players in the industry are continuously launching new and innovative honey products to cater to changing consumer preferences and expand their customer base. Moreover, several innovations including flavored honey, infused honey with herbs or fruits, organic honey, and specialty honey variants sourced from specific flowers or regions represent another major growth-inducing factor. Besides this, key players are launching new and innovative honey products to cater to changing consumer preferences and expanding their customer base accelerating the market demand. Along with this, manufacturers are targeting specific consumer segments and enhancing the appeal of honey as a versatile ingredient which is propelling market growth.   Indian Honey Industry Segmentation: An analysis of the key trends in each segment of the Indian honey market report, along with forecasts at the country and state levels from 2024-2032. Our report has categorized the market based on flavor, seasonality, and distribution channel. Multiflora Honey Eucalyptus Honey Ajwain Honey Sidr Honey Others  Multiflora honey dominates the market- The report has provided a detailed breakup and analysis of the market based on the flavor. This includes multiflora honey, eucalyptus honey, ajwain honey, sidr honey, and others. According to the report, multiflora honey represented the largest segment. Multiflora honey is derived from the nectar of various flowers and plants, resulting in a unique blend of flavors and aromas. It is highly sought after by consumers due to its diverse taste profile and the perception that it represents a more natural and authentic form of honey. The multiflora variant offers a rich and distinct flavor that appeals to various consumers. Moreover, the growing preference for multiflora honey is also driven by its versatility in culinary applications, making it suitable for various recipes, beverages, and traditional remedies representing north major growth-inducing factor. Furthermore, multiflora honey’s dominance can be attributed to effective marketing strategies employed by honey brands. Also, manufacturers highlight the unique flavor profile and the natural origin of multiflora honey to attract consumers. They also emphasize its potential health benefits, such as antioxidant properties and immune-boosting qualities propelling the market growth. Breakup by Seasonality: Autumn and Spring Season Winter Season Summer and Monsoon Season  Autumn and spring season hold the largest share in the market- A detailed breakup and analysis of the market based on seasonality have also been provided in the report. This includes the autumn and spring season, the winter season, and the summer and monsoon season. According to the report, the autumn and spring season accounted for the largest market share. During the autumn season, which typically occurs from September to November in India, there is increasing production of honey due to the abundant availability of nectar-rich flowers and favorable weather conditions, which promote active foraging by bees influencing the market growth. Additionally, bees collect nectar from various flowering plants, including mustard, eucalyptus, sunflower, and citrus trees, among others. Also, the easy availability of a diverse range of nectar sources during autumn contributes to the production of different types of honey with distinct flavors and characteristics. The higher honey production during this season leads to increased supply in the market, making it essential period for honey manufacturers and suppliers. The

The term Horeca, or rather Ho.Re.Ca., stands for Hotels, restaurants and cafes (in many interpretations replaced by Catering) and, as we have already anticipated, includes the hotel industry and all those activities that gravitate around it food, beverage e hospitality. The Horeca channel must not be confused with the large-scale distribution, therefore with large-scale distribution, which instead deals with the trade of food and drink and not with their administration. What is HoReCa? HoReCa is a short for hotel / restaurant / catering and encompasses the whole food service industry. The term HoReCa includes everything that happens at places like restaurants, cafés, clubs, pubs, hotels etc. (called outlets or points of sale from the business perspective) and is a common denominator for this sector-related jobs like chefs, waiters or restaurant managers. You can also come across the term HoReCa when dealing with producers and vendors like Coca-Cola or Heineken who sell their products to various HoReCa outlets.  HoReCa producers and vendors Since the HoReCa market is so big, there are loads of producers and vendors competing for market share. They are usually classified as being part of 3 basic categories: Beer Spirits Non-alcoholic drinks Each category also has a lots of subcategories. Take spirits, for example. There is rum, vodka, whiskey, gin and many other types of drinks, all with their own competing brands and products. Think Amundsen vs. Finlandia, Captain Morgan vs. Bacardi or Jameson vs. Tullamore Dew.  To sum up, the HoReCa drinks market is made up of the most famous brands in the world. Even though HoReCa doesn’t actually make up the most sales for these companies, it’s in their best interest to grab as much market share as possible. Because what it lacks in sales, it makes up with brand building and supporting customer loyalty by associating a product or brand with pleasant emotions and time spent with friends or family. HoReCa outlets or points of sale HoReCa outlet is a place to go out for drinks or food. Sometimes called a point of sale or an establishment (again, for total clarity, it is a place where food & drinks are being served to customers who went out for a lunch, a cocktails-fuelled party or to meet their friends.  A HoReCa outlet can be anything from local family-owned cafés, office canteens or hotel eateries to sprawling, multi-storey restaurants or global fast-food franchises. These places are the backbone of the HoReCa industry and vendors or producers compete to get their products on their menus. Imagine Coca-Cola and Pepsi competing for a slot on a famous New York club menu or Jameson trying to push out Tullamore Dew from a popular London whiskey bar and you will get the picture. Some HoReCa outlets offer delivery services, which was especially important during the harshest Covid-19 waves. Some even don’t offer any service on-premise and rely solely on deliveries. These are called ghost kitchens. FAQs What does HORECA stand for? HORECA is an acronym that stands for Hotel, Restaurant, and Catering. It refers to the collective industry that includes businesses involved in providing food, beverages, and accommodation services. What is the HORECA sector? The HORECA sector comprises businesses involved in the hospitality and foodservice industry, such as hotels, restaurants, cafes, catering services, and related businesses. What are the key components of the HORECA industry? The key components include hotels, restaurants, cafes, bars, catering services, event management, and other establishments that offer food, beverages, and accommodation services. 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 in Noida | Company Registration in lucknow Complete CA Services CA in Delhi | CA in Gurgaon | CA in Noida | CA in Jaipur | CA Firm in India RERA Services RERA Rajasthan | RERA Haryana | RERA Delhi | UP RERA Most read resources tnreginet |rajssp | jharsewa | picme | pmkisan | webland | bonafide certificate | rent agreement format | tax audit applicability | 7/12 online maharasthra | kerala psc registration | antyodaya saral portal | appointment letter format | 115bac | section 41 of income tax act | GST Search Taxpayer | 194h | section 185 of companies act 2013 | caro 2020 | Challan 280 | itr intimation password |  internal audit applicability |  preliminiary expenses |  mAadhar |  e shram card |  194r |  ec tamilnadu |  194a of income tax act |  80ddb |  aaple sarkar portal |  epf activation |  scrap business |  brsr |  section 135 of companies act 2013 |  depreciation on computer |  section 186 of companies act 2013 | 80ttb | section 115bab | section 115ba | section 148 of income tax act | 80dd | 44ae of Income tax act | west bengal land registration | 194o of income tax act | 270a of income tax

Copyright is a form of intellectual property that gives an exclusive right to the creator of literary, dramatic, musical work, computer program, artistic work, cinematography and sound recording for a certain time period. The creators of these works get copyright immediately after expressly making an expression and requires formal registration. Further, copyright law protects the expressed ideas and stops others from exploiting the author’s work without permission. What is Copyright? Copyright is an intangible and incorporeal property with statutory rights for a limited period. It consists of a bundle of rights given by the law to creators of literary, dramatic, musical and artistic works. Once the work gets copyrighted, it can only be reproduced, adapted, communicated to the public or translation with the consent of the owner.  Ownership rights of copyright – Ownership of copyright and rights of the copyright owner are dealt under Section 17 and 18 of the Act. First owner  Persons other than the author as the first owner Joint authorship  Permitting the third party to use the copyrighted work In future course, if anyone interested in the copyrighted work of an author shall in accordance with section 14 of the copyright Act, 1957 gives an exclusive right to do or authorize the doing of any of the following acts in respect of work to –  To reproduce the work  Issue copies of the work to the public To make any adaptation of the work  Translation of the work  Include the work in cinematography  Acts deemed to be infringement of copyright  According to Section 51 of the Act, the following acts amount to infringement of the copyright –  Making infringing copies for sale or letting out  Permitting any place for performance of works in public where such performance constitutes infringement of copyright  Distribution of infringed copy Public exhibition of such copies  How to decide infringement? Infringement of copyright can be decided only by expert evidence. It is a question of fact and it is a matter which can be established by evidence adduced before the Court. The Court may decide, whether or not there has been violation of copyright is to see if the reader or spectator review both the work and get an unmistakable impression that the subsequent work appears to be a copy of the first.  Case law –R G Anand Vs. Delux Films, AIR 1978 SC 1613 – it has been held that there shall be no copyright in an idea, subject matter, theme or plot or historical facts. Hence, infringement is confined only to form or expression of the idea or the manner of its arrangement and not the idea.  Infringement of copyright –According to the Copyright Act, the acts which are deemed to be a duplicate work of the copyrighted work shall be classified into civil as well as criminal infringement. The two remedies are distinct and independent and can be availed simultaneously. In the matter of criminal infringement mens rea is essential.  Remedies against the infringement of copyright –The owner of the copyright shall be entitled to remedies by way of injunctions and damages for the infringement of copyright through the Court. Similarly any person who knowingly infringes the copyright commits criminal offence which is punishable under Section 63 of the Copyright Act. Jurisdiction According to Section 60, a suit or other civil proceedings relating to infringement of copyright is filed either in the District or High Court within whose jurisdiction the plaintiff resides or carries on business or raise the cause of action arose and irrespective to the residence or place business of the business of the defendant.  Format of the legal notice on copyright infringement Legal notices are sent for various purpose and the particulars of each notice differ from each other. Thus to draft an infringement legal notice, the contents shall be as follows –  Name of both parties The work protected by the copyright Date of creation of the work Date when the work was first published Date of copyright registration  Description of the violation of the copyright (include every details such as colour, size, slogans etc) Demands placed over the infringed party (Monetary remedies) Demands with respect to the course of action to be taken by the infringing party with a view to cease the violation of rights of the copyright holder Format Address date and place Subject – Cease and desist notice for copyright infringement. To, M/s XYZ, I/ my/ our client, _____________, am the sole owner of _______________ which is in the form of a _______________ and I/ my/ our client retains all the rights of this copyrighted work. I/ my/ our client have published on ______________ and it was first published on _____________ I got my work copyrighted on ________________. It has come to my notice that, you_______________, has been making an unauthorized usage of the work I/ my/ our client has published. I have not granted permission to you for utilization of the published work and under section 14 of the Copyright Act, 1957, I/ my/ our client as the sole copyright holder, reserve the right to distribution of my copyrighted work. I would like to bring to your notice that, since your act amounts to infringement of my/ our client’s legal rights granted under section 63 of the Copyright Act, 1957, you are held liable to a fine ranging from INR ________________________ and also failing which criminal charges shall be pressed against you. Further, I hereby, demand that you, cease the unauthorized use of my copyrighted work; provide me with a written assurance that you will desist from making any further unauthorized use of my copyrighted work; My Client calls upon you to immediately act upon the requisitions stated above and compensate my Client for the loss suffered by my Client, I/ my/ our client hope that you understand the civil and penal charges that such an infringement of my legal right attracts and hope that you will work on the issue expediently. I/ we look forward to hearing from you within fifteen (15) days hereof that you shall

The “market size” is made up of the total number of potential buyers of a product or service within a given market, and the total revenue that these sales may generate. It’s important to calculate and understand market size for several reasons. First, entrepreneurs and organizations can use market sizing to estimate how much profit they could potentially earn from a new business, product or service. This helps decision-makers to decide whether they should invest in it. If you choose to move forward, this analysis will also help you to develop a marketing strategy that addresses the unique needs and potential of your core market. Market sizing can also help you to estimate the number of people that you may need to hire before you launch a new product or service, rather than “feeling your way” as you test your new market. If you know this from the start, you can optimize your approach to recruitment, so that you have the right people in place when you need them. What is market sizing? Market sizing is the process of identifying the potential number of clients or customers, as well as the total revenue or sales for a product or service within a given market. While it’s an important exercise for all businesses to carry out regularly, it is particularly useful for startups and entrepreneurs in the early stages of their business. Since they often lack primary data, market sizing can give them a rough snapshot of the market share they can potentially capture. It’s a process of gathering market data from both primary and secondary sources, then piecing that data together to give an estimate of market size and value. For reference, a primary source will be whatever has the original or first-hand information you’re looking for. A secondary source will have information that they collected from somebody or something else (either the primary source or another secondary source). To carry out market sizing research, you may use a number of different sources, including government data, competitors’ public records, and your own primary research. Market sizing can provide data on: Total potential market volume and value Target customer profiles The main competitors Investment decisions Current trends in a particular market The products or services available in that market Market sizing requires you to make various assumptions regarding your sector, industry, and product or service. This means that it is not an exact science, and assumptions must be continually refined and reviewed as you gather more data about your market. Market Sizing Methods There are two methods that are commonly used for market sizing: 1. Top Down Market Sizing – although the top-down method is simple, it’s often unreliable and overly optimistic. It looks at the “relevant” market size for your product or service, and then calculates how much your organization might earn from it. For example, imagine that your organization markets learning resources to schools. Your research shows that there are 6,000 relevant schools in your country. You know that the average sale per school is around $50,000, which means that your market size is $300 million. Of course, this is an incredibly optimistic and unrealistic figure. Not every school needs your products, and they’re unlikely to purchase $50,000 worth of goods each, so it could be a real challenge to capture even a small percentage of this market. A top-down approach gives you inflated data, and you often can’t rely on it to make good decisions. 2. Bottom-Up – This approach is often more time-consuming than top-down market sizing, because you do all of your own market research and you don’t rely solely on generalized forecasts and trends. However, you’ll get a more realistic and accurate assessment of your market’s potential. How to Calculate Market Size 1. Define Your Target Market- To predict the size of your market, you need to know the type of person that your product or service is best suited to. Your offering has to fulfilll a need – or solve a problem – uniquely well for a group of people, and you need to define who these people are. Also, think about how you can access these customers – there’s no point considering them if you can’t reach them cost-effectively.You can use market segmentation to divide your market into specific groups. This will give you a greater understanding of each group that your product or service will appeal to, and will enable you to tailor your offering to the specific needs of each group. Once you’ve identified the different possible segments in your market, choose the ones that you want to focus on to build your business.Now you need to determine how large the market is for each segment you’ve identified. To do this, contact business organizations, data providers, civic organizations, city and state development offices, or regulatory agencies that handle business and commerce; and do what you can to source a list of potential clients in your chosen segments. Example- Your organization wants to develop point-of-sale software for mid-sized grocery stores. But, before you invest the time and money to develop the software, you need to make sure that the market is large enough, and that people are interested enough in your product to buy it.After researching online and contacting your region’s business and commerce department, you determine that there are roughly 10,000 mid-sized grocery stores in your country, and you source a list of these stores. 2. Use Market Research to Assess Interest in Your Product- Obviously, not everyone in your target market will want to buy your product. So your next step is to estimate realistic interest.One way to do this is to focus on competitors who target the same group of buyers. What is their market share? And what are their annual sales for similar products or services?If your competitors are exclusively focused on this market, this can give you a good estimate of potential market size. However, it can be almost impossible to source this information if they focus on other markets as well, or if they

Contribution margin is a business’s sales revenue less its variable costs. The resulting contribution dollars can be used to cover fixed costs (such as rent), and once those are covered, any excess is considered earnings. Contribution margin (presented as a % or in absolute dollars) can be presented as the total amount, amount for each product line, amount per unit, or as a ratio or percentage of net sales. What Is Contribution Margin? The contribution margin can be stated on a gross or per-unit basis. It represents the incremental money generated for each product/unit sold after deducting the variable portion of the firm’s costs.The contribution margin is computed as the selling price per unit, minus the variable cost per unit. Also known as dollar contribution per unit, the measure indicates how a particular product contributes to the overall profit of the company.It provides one way to show the profit potential of a particular product offered by a company and shows the portion of sales that helps to cover the company’s fixed costs. Any remaining revenue left after covering fixed costs is the profit generated. Formula and Calculation of Contribution Margin The contribution margin is computed as the difference between the sale price of a product and the variable costs associated with its production and sales process. This is expressed through the following formula: C=R−V​C=R−V​ Where C is the contribution margin, R is the total revenue, and V represents variable costs. It may also be useful to express the contribution margin as a fraction of total revenue. In this case, the Contribution Margin Ratio (CR) is expressed as the contribution margin, divided by total revenues in the same time period: CR=(R−V)R​CR=R(R−V)​​ What Contribution Margin Can Tell You The contribution margin is the foundation for break-even analysis used in the overall cost and sales price planning for products. The contribution margin helps to separate out the fixed cost and profit components coming from product sales and can be used to determine the selling price range of a product, the profit levels that can be expected from the sales, and structure sales commissions paid to sales team members, distributors, or commission agents. Fixed Cost vs. Variable Cost One-time costs for items such as machinery are a typical example of a fixed cost that stays the same regardless of the number of units sold, although it becomes a smaller percentage of each unit’s cost as the number of units sold increases.Other examples include services and utilities that may come at a fixed cost and do not have an impact on the number of units produced or sold. For example, if the government offers unlimited electricity at a fixed monthly cost of $100, then manufacturing 10 units or 10,000 units will have the same fixed cost towards electricity. In these kinds of scenarios, electricity will not be considered in the contribution margin formula as it represents a fixed cost. However, if the electricity cost increases in proportion to consumption, it will be considered a variable cost. Fixed costs are often considered sunk costs that once spent cannot be recovered. These cost components should not be considered while taking decisions about cost analysis or profitability measures. Contribution Margin vs. Gross Profit Margin The contribution margin is different from the gross profit margin, the difference between sales revenue and the cost of goods sold. While contribution margins only count the variable costs, the gross profit margin includes all of the costs that a company incurs in order to make sales.The contribution margin shows how much additional revenue is generated by making each additional unit product after the company has reached the breakeven point. In other words, it measures how much money each additional sale “contributes” to the company’s total profits. Uses of Contribution Margin The contribution margin can help company management select from among several possible products that compete to use the same set of manufacturing resources. Say that a company has a pen-manufacturing machine that is capable of producing both ink pens and ball-point pens, and management must make a choice to produce only one of them. If the contribution margin for an ink pen is higher than that of a ball pen, the former will be given production preference owing to its higher profitability potential. Such decision-making is common to companies that manufacture a diversified portfolio of products, and management must allocate available resources in the most efficient manner to products with the highest profit potential. How to Improve Contribution Margin Based on the contribution margin formula, there are two ways for a company to increase its contribution margins; They can find ways to increase revenues, or they can reduce their variable costs.Variable costs tend to represent expenses such as materials, shipping, and marketing, Companies can reduce these costs by identifying alternatives, such as using cheaper materials or alternative shipping providers.Alternatively, the company can also try finding ways to improve revenues. For example, they can increase advertising to reach more customers, or they can simply increase the costs of their products. However, these strategies could ultimately backfire and result in even lower contribution margins. FAQs Why is Contribution Margin Important? Contribution Margin is crucial for assessing the profitability of individual products or services. It helps in determining the amount available to cover fixed costs and contribute to the company’s profit. What is the Significance of Contribution Margin Ratio? The Contribution Margin Ratio is expressed as a percentage and is calculated by dividing the Contribution Margin by the Total Sales Revenue. It helps in analyzing the efficiency and profitability of the business. Can Contribution Margin be Negative? Yes, Contribution Margin can be negative if variable costs exceed total sales revenue. This indicates that the product or service is not covering its variable costs. 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

Brand equity refers to a value premium that a company generates from a product with a recognizable name when compared to a generic equivalent. Companies can create brand equity for their products by making them memorable, easily recognizable, and superior in quality and reliability. Mass marketing campaigns also help to create brand equity. When a company has positive brand equity, customers willingly pay a high price for its products, even though they could get the same thing from a competitor for less. Customers, in effect, pay a price premium to do business with a firm they know and admire. Because the company with brand equity does not incur a higher expense than its competitors to produce the product and bring it to market, the difference in price goes to their margin. The firm’s brand equity enables it to make a bigger profit on each sale. What Is Brand Equity? Brand equity is when a company generates a value premium from the recognition of a product or brand name. The idea is that when a product is highly recognisable and has positive associations, consumers attribute more value to the corresponding brand. This kind of exemplary branding creates value for the product because it creates an organic channel for exposure, which means the brand has a high mental recall with consumers. Benefits Of Developing Equity For A Brand It can charge higher prices-A company without strong equity for its brand may need to charge consumers the benchmark, or market average, price for its products. When a brand has strong equity, it can charge higher prices than its competitors. Consumers are more willing to pay a higher price for a product if it comes from a brand they trust. It can acquire a greater market share- A company with strong equity for its brand can acquire a greater market share than its competitors. This benefit is especially useful in oversaturated industries that have hundreds of businesses that offer the same or similar products. When a brand acquires a greater market share, it can have a more meaningful impact on its target audience. It may also invite more investing opportunities from interested parties and allow for lucrative collaboration possibilities. It can expand its product line- Once a brand has strong equity, it can consider expanding its product line. Consumers may be more willing to try a company’s latest offerings if they already have strong faith in its current offerings. By expanding its product line, a company can appeal to a more diverse audience and increase its profit margins. Types Of Metrics To Measure Equity For A Brand Consumer metrics: You can track consumers’ sentiments and purchasing behaviours through the results of social media monitoring and customer surveys. Strength metrics: You can measure the strength of a brand by monitoring the brand’s licensing potential, retention, accessibility and the customer loyalty it garners. Financial metrics: Financial metrics like customer acquisition costs, customer retaining costs, revenue and profitability can also help measure a company’s equity. How To Build Equity For A Brand 1. Create better brand awareness- One of the easiest ways you can build equity for a brand is to create better brand awareness. Ensure that the brand’s target audience is familiar with the brand and does not forget about its offerings. One way to create brand awareness is to keep a brand’s use of logos and images consistent. When audiences see the same colours, font and images for a brand, they can more easily associate the visuals with the correct company. Another way to create better brand awareness is to provide great customer service. Establish a team that has the sole responsibility of answering customers’ questions and addressing their concerns. You may also create better brand awareness by providing ongoing value, maintaining customer communication via newsletters and writing an uplifting story for the brand and sharing it accordingly. 2. Relay the brand’s meaning and purpose-Another way to build equity for a brand is to communicate the brand’s meaning and purpose. Understand what physical needs the brand is trying to meet for its customers. For example, a company that sells vacuums may want to help customers clean their carpeted floors more efficiently. You can also attempt to understand and convey the psychological and social needs that a brand is trying to fulfil. The same company might be trying to reduce stress in their customers’ busy lives and create more free time for them to spend with 3. Encourage positive feelings and judgments among customers- Customers often have feelings and judgments about the products they consume and the brands with which they interact. As you are trying to build equity for a brand, you can make efforts to encourage positive feelings and judgments. You can facilitate feelings and judgments with the marketing materials that the brand releases to the public. Positive feelings you can foster include those of security, self-respect, trust, excitement and contentment. Judgments you can attempt to facilitate include those that relate to the brand’s capability, quality, credibility and superiority in comparison to its competitors. 4. Establish loyalty with the brand’s customers- You can establish loyalty with a brand’s customers by encouraging repeat purchases. Focus on communicating the product’s quality and long-term relevance so that customers show loyalty to the brand. As a result, repeat customers may act as ambassadors for the brand, sharing its benefits with their friends and family. The brand may not need to spend as much to gain new customers, as existing ones may complete some of the advertising on its behalf. FAQs How is Brand Equity Different from Brand Value? Brand equity is about consumer perceptions and loyalty, while brand value is often a monetary estimate of the brand’s overall worth to a company, including tangible and intangible assets. What Factors Contribute to Building Brand Equity? Factors include consistent brand messaging, quality products or services, positive customer experiences, effective marketing, brand associations, and emotional connections with consumers. Why is Brand Equity Important for a Business? Brand equity can positively impact a business by enhancing customer loyalty, influencing purchasing

To comply with the Reserve Bank of India’s KYC regulations, banks must update customer identity papers in their records of account holders on a regular basis (RBI). This can be triggered by a significant change in the customer’s profile or the kind of transactions in the account, and it is dependent on the account holder’s risk profile.In this context, account holders may be asked to conduct re-KYC and submit documentation in addition to the KYC performed at the time of account opening. An account freeze prevents some bank or brokerage transactions from taking place. Typically, any open transactions are canceled, and checks presented on a frozen account aren’t honored. The account holder can still deposit money into the account, but may not be able to withdraw it. Meaning of Know Your Customer or KYC KYC, allows banks and financial organizations to confirm the identification of their clients. As a first-time investor, you only need to complete this once. Know Your Customer is a procedure in which a financial company verifies the identification of consumers and assesses their suitability, as well as the possibility of illegal objectives and actions. Money laundering is one of the most serious threats to a country’s economy. The government and financial institutions are constantly on the lookout for such unlawful activity. KYC requirements for banking or financial transactions are an excellent technique to prevent this. Importance of KYC It is a common due diligence procedure used by banks and other financial organizations to determine a customer’s identification and the risks connected with them. It assists them in ensuring that consumers are who they claim to be. In India, the Reserve Bank of India (RBI) established KYC criteria in 2002. At a high level, it was intended to safeguard regulated companies from three threats: Laundering of funds Terrorist financing Theft of one’s identity KYC is vital since it protects against financial fraud. Legal mandates to comply with KYC standards impose these safety nets on financial organizations.As a result, noncompliance can result in severe fines from market authorities, as we have seen time and again.Now we have found out the basic gist of KYC now let us see what does Re- KYC mean. Meaning of RE- KYC A RE- KYC guarantees that the papers, contact information, and other information obtained at the time of account establishment are up to date. According to RBI standards, it is done at regular periods based on the risk category of the consumer. There are three danger levels: High Risk Medium Risk and Low Risk Among the criteria that influence a customer’s categorization are their identity, social and financial standing, type of commercial activity, information about their company, and locality.Every two years, the high-risk category goes through KYC. While those at medium and low risk go through KYC every 8 and 10 years, respectively.Furthermore, customers that fall into the low-risk group are not required to visit the bank for Re-KYC. They can do it using Internet Banking, the bank’s mobile application, a Re- KYC update link supplied by the customer’s registered email ID, a Re- KYC update link provided by the customer’s registered cellphone number, SMS, or ATMs. The Re- KYC procedure includes three major steps: The consumer completes the Re- KYC form. With the Re- KYC form, the consumer sends self-attested copies of acceptable identity and residency verification. Following the first two procedures, the customer’s Re- KYC is processed in roughly 10 days Is it legal and practicable for a Bank to freeze a Bank Account? Banks are required to preserve KYC data and track their bank accounts and transactions under Rule 3 of the Prevention of Money Laundering (Maintenance of Records) Rules, 2005. It requires banks to update KYC records every two years for high-risk consumers, every eight years for medium-risk customers, and every ten years for low-risk customers. However, this results in consumer harassment because they are often asked for the same facts and verification for records. It’s acceptable to freeze the account if KYC/ReKYC documents aren’t supplied to RE’s satisfaction. Judicial Pronouncement regarding the Unlawful Freezing of Bank Accounts by banks for the pendency of Re-KYC – One may look into the case of State Bank of India vs. Ashvin Chaturbhai Parmar before the Gujarat High Court for a better understanding of the Unlawful Freezing of Bank Accounts by banks for the pendency of Re-KYC. Facts of the Case: The respondent’s bank account was stopped by the bank in this case because the KYC criteria were not followed. A petition was subsequently filed with the Gujarat High Court, which ruled that the bank had no power to freeze the account or terminate the chequebook and ATM service owing to noncompliance with KYC criteria. Judgment of the Case: The court ruled that the bank had the authority to shut the account with prior warning and notification to the client that if the papers were not supplied, the account would be closed in accordance with due process. The bank had asked the court to reconsider the ruling since freezing the account is more practicable than shutting it totally. The court then reviewed the order and determined that freezing the account is not more feasible than closing the account because the customer is deprived of his own money while the account is frozen, and any cheque drawn on him during that period will land him in a criminal suit for cheque dishonor, despite having sufficient funds with himself to honor the cheque. In court, the bank was cautioned not to improperly freeze any accounts in the future, as doing so would result in harsh action by the Reserve Bank of India and the Banking Ombudsman. This decision exposed several critical flaws with the KYC process. This shields clients against recurrent pestering by bank workers for submitting KYC documents, even when they have already done so. Despite the fact that the aforesaid verdict provided relief to clients, banks continue to humiliate and harass their customers in order to update their KYC information. Account closure is