In this article we will discuss about the top UPI payment apps in India, up enables easier and faster transfer using mobile applications, UPI handle or username is required for receiving and sending funds in bank account.
Due of it’s easy to operate user interface, UPI system has grown significantly in last 2-3 years and many people and business started accepting payments via UPI. As the increasing uses of UPI the fintech applications that facilitates payments system via UPI has got major competation which has leads to better customer service and quick adoption of UPI payment system in India.
List of top UPI payment apps in India
Phonepe
Phonepe is an UPI payment app grown significantly is among the top UPI apps in India,
Google pay
Backed by Google , Google pay got significant presence in UPI payment services in India, Google pay is among the first choice of users.
Paytm UPI
Paytm is first and grown significantly and has major market share amoung the UPI payment services
Bhim App
Bhim is first UPI payment app and backed by National payment Corporation of India, the first UPI payment system app launched by PM Modi. Bhim has done lot of improvements in its UI and added other features to its portfolio and able to get good response from market even today where other market players are heavily spending lots of money on advertising.
PostPe is a Buy Now Pay Later credit limit product from Fintech company BharatPe, Through Postpe Limit anyone can get Free Interest free Credit for 30 days or up to date of the due date. Postpe provides a credit limit within 5 minutes and you can get an instant credit facility, through which you can make online payments, Scan QR Code of any Bharatpe Marchant and pay them.
How to Apply for PostPe Limit
To get the Postpe limit you are required to download the App free from play store
Now signup to Postpe with Mobile Number you wish to register your postpe account
Enter Your PAN Number
in the Next Step you are required to enter your PAN Number, You must ensure that you must have the existing credit score to get a higher Postpe Limit.
Enter your Aadhar Number
In the next step, you are required to enter Aadhar Number, once you enter Aadhar Number, you are required to Authorize Aadhar information via Digilocker.
Upload your Selfie
Now you are required to Upload your Selfie in the next step
Instant Credit Approval
Once you Upload the Selfie, on the next screen you will get an Instant Credit approval Limit, which you can use anytime Now.
What is Buy Now Pay Later
In Buy Now Pay Later product you can buy products and services by making online payments now and paying them as per terms of credit Services. If your credit service provider gives you a credit limit for 30 days and provides a due date. you will need to make payment by such due date or convert the purchases into EMI and then pay with a certain fixed interest rate. PostPe Limit is also a Buy Now Pay Later Product.
Slice Card – Postpe Alternative
If you are not getting approval Postpe Limit approval, you can try slice card as well, It works great as well.
Hello, in this article we will discuss the Price to Earnings ratio, PE ratio, PE Ratio is most commonly used in the valuation of companies’ share price as to whether Companies Share Price is undervalued or overvalued.
What is PE Ratio
PE Ratio is arrived at by dividing companies Market Price by Earning Per Share.
PE Ratio = Market Price of Stock /Earning Per Share
i.e Market Price of Stock is Rs. 70, Earning Per Share = Rs. 8 per share
PE Ratio will be = 70/8 = 8.75
This means that Companies stock is currently trading at 8.75 times of Current share price.
In the current market scenario, it is seen that companies growing at High Growth rates are seen with High PE.
PE ratio is also known as earnings multiple or price multiple.
How to find Companies Price to Earnings Ratio
Finding Companies PE Ratio is much simpler as a lot is Online Tools are available to track financial Data for listed entities. one such online Tool is Tickertape.
loading widget to trade RELIANCE
From the Above Price Quote of Reliance Industries Limited, you can See Companies PE. at the Time of Writing this post RIL PE is at 33.89 , which means that RIL stock is trading at 33.89 times its Earnings.
In this article we will discuss Producer Company Registration in Rajasthan, A Producer Company is a Corporate legal entity ( Producer Company Registration ) formed by primary producers, viz. farmers, milk producers, fishermen, weavers, rural artisans, craftsmen. A Producer Organisation can be a producer company, a cooperative society or any other legal form which provides for sharing of profits/benefits among the members. In some forms like producer companies, institutions of primary producers can also become member of PO.
Producer Company is registered as a private limited company with the last word of the producer company in the name comes with producer Limited, There is no limit for the maximum number of members in a producer company and there should be minimum 10 members and the minimum director in the company should be 5.
What are the Benefits of producer Company Registration in Rajasthan
Benefits and Income Tax Act for Agriculture Income
Loan facility can be provided to the members by the company
Can accept deposits in the form of fixed or recurring deposits
Good Pricing for produce
Better management
Procuring at cheaper price compared to individual purchase
Reduced Cost of Transporation
Reduced Cost of Production
Benefit of economies of scale.
Assistance by government in various schemes
NABARD has taken up the cause of supporting and to meet the needs of Producer Companies. It set up a Rs. 50 crore Producer Organisation Development Fund (PODF) in 2011, out of its operating surplus
What is Primary Produce
Primary produce means the produce of farmers from agriculture and allied activities or produce of persons engaged in handloom, handicrafts and other cottage industries, including any by-product and product resulting from ancillary activities thereof.
Primary produce also includes any activity intended to increase the production or quality of the aforementioned products or activities. Persons engaged in agriculture, horticulture, animal husbandry, fishery, sericulture, apiary, handloom, handicrafts, etc., can become members of the appropriate PO. Persons engaged in the collection of minor forest produce are also eligible for membership of PO although they gather these from forests and strictly are not producers
Documents Required for Members and Directors :
PAN card
Aadhar Card
Bank statement or Bank pass book with name address and Last entry should not be older than 2 months
Passport size photograph of all the applicants
Certificate/Identity that all the applicants are involved in the activities relating to producer company
I,_____ hereby confirms and acknowledges to ________(creditor ) that the undersigned is indebted to the creditor in the amount of ____ as of date hereof which amount is due owing includes all accrued interest and other permitted charges to date. We further acknowledge that there are no defence to, or credits or rights of set off as against balance and that the creditor shall be authorize to enter a confession of judgment against the undersigned for the amount of debt acknowledged to be due.
The gaming industry is growing rapidly all over the world due to growth in the internet users and technological improvements availability of high-speed internet data and the growing interest of the users. In the present time, the online gaming business is a very profitable business opportunity. In this article, we will discuss how to start an online gaming company in India
The idea for Game Development
The first thing to start the online gaming business is you should have a product, the product will be your game a particular game that you are offering to the public, a good product is necessary for every business, as a good online gaming business requires you to have a good 🎯 so that people can have interest and spend considerable time on gaming. The idea for the game development requires you to think of every aspect of the gaming who will be your target audience is for the particular game, the gaming platform on which the game will be doubled how much cost will be involved in the marketing of the game the expected revenue that this game in business can generate. The Good thing is you can make a sheet of all these calculations.
Procedure for Online Gaming Company Registration
In India there are many business structures available under which you can do the business, following are the business structures under which you can register your online gaming company
Proprietorship Firm
Partnership Firm
Limited Liability Partnership (LLP)
Private Limited Company
Public Limited Company
You can either choose any of the Above business structures in India, in this article we will discuss about private limited company and LLP as a business structure as these two business structures are the most popular business structure and you need either of one.
Registration of online gaming company as a private limited company
Today register an online gaming company as a private limited company you need to have minimum 2 shareholders and the two directors, (shareholders can also be directors and vice versa) if you are registering a private limited company as a single individual you can register it has a one person company also in that case you will need one person has your nominee.
Minimum requirements for registration of online gaming company as a private limited company
Minimum 2 members
Minimum 2 Shareholders
Name of Company (ABC eSports Private Limited)
Address of Company
Share Capital (there is no minimum capital requirement)
Share to be subscribed by each shareholder at the time of Incorporation
Bank statement of Subscribers ( Latest with Name and Address )
Communication Address or Registred office Address of Company
All the documents and information required for registration of an online gaming company.
Main object of online gaming company
The main object of any company are something that depends on what a company can do, if we are in operating in an online gaming company we should have the company’s main object of online gaming this will only enable has to pursue our objects
Following are the draft main objects of the online gaming company
1. To conduct “games of skill” which includes all such games where there is a preponderance of skill over chance, including where the skill relates to strategising the manner of placing wagers or placing bets, or where the skill lies in team selection or selection of virtual stocks based on analyses, or where the skill relates to the manner in which the moves are made, whether through the deployment of physical or mental skill and acumen. 2. To conduct skill games programme like Chess, Sudoku, Quizzes, Binary Options, Bridge, Poker, Rummy, Nap, Spades, Auction, Solitaire, virtual Golf, virtual racing games including virtual horse racing, virtual car racing etc.; virtual Sports including virtual Soccer, virtual Cricket, virtual Archery, virtual snooker/bridge/pool, virtual fighting, virtual wrestling, virtual boxing, virtual combat games, virtual adventure games, virtual mystery and detective games, virtual stock/monopoly games, virtual team selection games, virtual sport fantasy league games. 3. To offer “games of skill” on website, mobile platform, television or any other online media and also to earn a revenue by means of advertising or by taking a percentage of winnings of gameplay or charging a fixed fee for membership or for downloading a game. 4.To carry on the business of buying, selling, reselling, importing, exporting, transporting, storing, developing, promoting, marketing or supplying, trading, dealing in any manner whatsoever in all type of goods related to games on retail as well as on wholesale basis in India or elsewhere.
GST Registration of online gaming Company
What’s the companies incorporated we have to apply for GST registration of company registration of company can also be applied at the time of incorporation also but it is advisable to you first open a bank account the company, infuse initial capital to the company’s bank account and then apply for the GST registration separately as per the needs. If your turnover is below the threshold limit of 20 lakh rupees you need not apply, if you wish to take the GST number you can apply so GST, this will also help you to claim the input tax credit on the GST paid if you are purchasing and paying for marketing, advertising etc. Or paying for expenses for app development or expenses relating to the server. I think it makes sense to apply GST.
Fastlegal provides Online Gaming Company Registration Services all over India, you can submit your request in the below form or Directly call us at 9782280098
If a Private Limited company wish to undertake any object (New Business Activity) which is not mentioned in its MOA, and the company wants to start up a new business which is not as per it’s MOA then, it should make a change in its main object by Following the procedure mentioned below
Step by Step Procedure for Change in Object Clause of MOA of Company
Time Requierd25 days
Hold Board Meeting and send Notice for Extra Ordinary General Meeting for change in Object Clause
The first step for change in object clause of the MOA of the company is to hold Board meeting of the Company, in the board meeting main agenda should be to hold an Extra-Ordinary General Meeting of the Company.
Hold Extra-Ordinary General Meeting on the specified date for the change in Object Clause
Now hold the extra Ordinary general meeting of the Company, in this regard do necessary legal and procedural requirement at venue of general meeting
Pass Resolution by taking approval of Shareholders for change in Object Clause
Now start the proceedings of general meeting and pass required resolution for change in main object of the company, resolution is required to be passed by requisite approval of shareholders of company
Get true certified copies of all the documents and resolutions in respect to change in Object Clause
Once all the approval of shareholders are received , any director of company or authorized person will prepare necessary documents , like certified copies of all the documents and resolution , Following documents certified copies is mandatory required to be arranged : 1. Altered MOA of the Company 2. Resolution passed at EGM of the Company
File MGT-14 with all the Resolutions and Altered MOA
Once the above requirements are complete in all respect, Company is required to file E Form MGT-14 to Registrar of Companies with payment of fee.
Approval of E form MGT-14 for Change in Object of the Company
Once e Form MGT-14 is filed with ROC , the ROC will check and verify the correctness of the Form and will if deems fit approve or send back the e form
Certificate of Registration for Change in Object Clause of the Company
Once the E form MGT-14 is approved by ROC , the Company will receive the email in this regard along with Certificate.
Once all the above is completed, complete all the required certificate and altered MOA in single set as new set of MOA of the Company.
Convertible notes are a form of short-term debt that converts into equity, typically associated with the financing of early-stage startups. In this deep dive, we will explore the nuances of this popular funding instrument, guiding you through its benefits, risks, and overall mechanics.
Understanding Convertible Notes
What Are Convertible Notes?
A convertible note is a type of financing instrument that startups often use in their seed rounds. It starts as a loan and then converts into shares of preferred stock during a future financing round, usually at a discount.
Why Use Convertible Notes?
Convertible notes are quick and easier to structure than equity rounds. They defer the valuation negotiation until a later stage when the company has grown and valuation is clearer.
How Do Convertible Notes Work?
Step 1: Issuance
The startup issues a convertible note to an investor in exchange for capital. The note outlines the terms of the agreement, including interest rate, maturity date, discount rate, and valuation cap.
Step 2: Accruing Interest
Unlike traditional loans, the interest on a convertible note typically doesn’t get paid out in cash. Instead, it accrues and converts into equity along with the principal amount at the next funding round.
Step 3: Conversion Triggers
Conversion triggers are predefined events that prompt the conversion of debt to equity. The most common trigger is a subsequent equity financing round.
Step 4: Conversion Mechanics
Upon a trigger event, the note will convert into equity. The discount rate applies to give the note holders a lower price per share than new investors.
Step 5: Conversion at Maturity
If the note reaches maturity without a conversion event, startups might repay the debt, renegotiate the note, or convert the debt into equity at a predefined ratio.
Key Terms of Convertible Notes
Valuation Cap: A maximum valuation at which the note can convert into equity to protect investors from dilution.
Discount Rate: A percentage reduction from the per-share price of the next investment round.
Interest Rate: The rate at which the loan accrues interest until conversion.
Maturity Date: The due date for the loan to be repaid or converted if no equity financing has occurred.
Can be costly for founders in the case of high valuation caps.
Could lead to ownership and control dilution.
Complexities and legal risks if not structured properly.
Best Practices for Startups
Establish favorable terms to both parties.
Set a reasonable valuation cap and interest rate.
Prepare for different scenarios at the maturity date.
Engage with knowledgeable legal advisors.
Conclusion
Convertible notes offer a vital lifeline for startups looking to finance their growth without immediate valuation. By understanding how convertible notes work and their associated terms and conditions, founders and investors can facilitate a smoother and more efficient investment process.
Remember, the key to navigating convertible notes is a clear understanding of the instrument, sound legal advice, and well-negotiated terms that are fair to all parties involved.
In this article we will discuss about procedure for Change in Name of Private Limited Company , A Private Limited company can change its Name with the Approval of Shareholders via Special Resolution and Central Government , for Change in Name of Company Following procedure is required to be followed :
Procedure for Change in Name of Private Limited Company :
Hold Board Meeting and Pass Resolution for Application to ROC for approval of new Name, Please note that resolution should clearly mention the New Name
Apply New Name in RUN form along with Resolution of Board for new Name , Certified True copy of Resolution should be attached. Get name Approval from CRC.
Hold Board Meeting and Send Notice for Holding Extra Ordinary General Meeting
Hold Extra Ordinary General Meeting of Members of the Company
Pass Special Resolution
Get the Certified true Copies of Resolution passed at Extra Ordinary General Meeting of all the documents signed along with Copy of Altered MOA and AOA of the company
File form MGT-14 with ROC
Once form MGT-14 is approved , File Form INC-24 for Change in the Name of the Company
Once INC-24 is approved , you will receive , new certificate after change in the name of Company
Apply for Changes in PAN Card of the Company
Apply for Change in GST Registration and any Other statutory Registrations
NOTE: The old name should be written along with the new name in all the documents of the company for two years. ( FORMERLY KNOWN AS ———-)
Do you need any help for Change in Name of your Company , Please email us at mail@fastlegal.in
Today we will discuss the recent Amendment made by MCA regarding fees payable by LLP, there was long-standing demand for the reduced filing fees for LLPs, In the ease of doing initiatives of the government of India, the new Reduced Late Fee for LLP will come out to be a game-changer for Small LLP.
Reduced Late Fee ( New Rules)
Completely Removed Rs. 100 Per Day Late Filing Fee and Introduced Rs. 10 ( for Small LLP’s ) Rs. 20 ( others) per day after a delay of 300 Days.
Per day Late only for Form 8 and Form 11
2, 4, 6, 10, 15, 25 Time’s of Normal Filing Fee Applicable based of Number of Days Dealy for Small LLP’s
Small LLP Concept Introduced
Up to 50 times of Normal Fee applicable to other than Small LLP’s based on Number of Days dealy
Higer Late Fee ( Old Rules)
Rs. 100 Per Day applicable to all types of LLP’s
No Upper Limit ( Dealy of 100 Days costs Rs. 100*100= 10000/- )
All LLP forms are included in Rs. 100-day system.
A delay of 100 days for Small LLP having a Capital of Rs.1 Lakh will cost Rs. 50*10 = 500 Plus Rs. 50 = Total Rs. 550, resulting in savings of Rs. 9450
The new amended rules will be applicable from the 01st day of April 2022.
Small LLP Incorporation
Enrich your business.
Name Approval
DIN
DSC
LLP Agreement *
PAN /TAN of LLP
Capital Contribution Up to Rs. 1 Lakh *
*Stamp duty up to Rs. 2000 included in this package
