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How to check if a brand name (Trademark) is registered in India

In this article, we will discuss step by step procedure on how to check if a brand name (trademark) is registered in India or not, checking of brand name registration status is very important for every business entity operating in any jurisdiction whether it is in India or outside.

Make a list of proposed Brand name’s (Trademark)

The first step is to make a list of the proposed brand names, business names or product names that you wish to register or check whether it is registered or not in India, It can be done by simple brainstorming, it is very much possible that if you brainstorm the brand names or the trade names for some time you will get some great names in your mind,

now what you have to do is you need to to know whether the said name is already available or not the best thing to do now is to check the same name on the search engine like Google or Bing if anything is available in this world with the same name or not it is a much higher possibility that if the same name is available you should skip that name as soon as possible because someone else is making some efforts on that name and it is better to leave that to the person or company, this is in a general sense if you have any specific requirements you may consider that name also.

trademark

Find the exact class of the product or services

In Trademark search there are 45 classes for different category of products and services, these 45 classes are based on a different type of categories like if you say your product falls in agree culture or agro-industry it will come under class 1 as all these products related to the agriculture of our underclass 1 of trademark, you are selling pharmaceutical medicines it will come under class 5 in TM also if you have electronic products mobile accessories and other items related to the electronics it will come under class 9 of the trademarks 2534 related products also under the class 35 normal business advertisement in business services a cover.

Go to Trademark public search

You have to go to the official website of the trademark search

On the official website of the trademark search you will be getting the columns for the search and the first column you need to check whether you want to search for the exact match or it contains a search for searching the start word with the word so it depends on this search mark that you are going to do so it is advisable first to search with contains and then go with the start and exact match.

Now you need to write the brand name (trademark) in the next column

now come to Ganesh from which you need to put the class you simply put the class of your products or services discuss the home and like a if you are a searching for products relating to the readymade garments and put out class 25 simply put 25 in the next column.

Now you need to click on the search button and if you are finding some of the trade marks you need to go through and check them to see if these are relating to your mark if you find some confusion on that just simply don’t use tgis mark as it is not available to you.

If there is no mark available on the search page you need to search it again for the next process and in all that processes if you find more results it is beat her and most probably the mark is available for registration.

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FLA Return Due Date Extended to 31st July 2020

As per the information available on the flair portal of RBI for submission of the foreign asset and liabilities returns for the entities holding foreign investment and liabilities is now been extended to 31st July 2020.

All entities can file a return to the RBI for Foriegn Assets and Liabilities on or before 31st July 2020

Screenshot From Flair Portal of RBI

Source FLA Portal

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How to Register Insurance Broking Company in India

Insurance Broking business is gaining popularity in India due to increasing awareness about insurance and large untouched market, also many new insurance companies are now coming with different insurance products, while now Term Insurance, Health Insurance, and Vehicle Insurance is now a very important part of individual’s financial planning, Also if we consider the requirements of Insurance also in a business where Fire Insurance, Machinery, Keyman Insurance, Directors and Officers liability insurance are importantly required. Insurance Brokers play a very important role in the Insurance Industry as

An insurance broker is a professional who offers, negotiates, and sells policies. He acts as an intermediary between insurers and customers and receives compensation.

An important role of brokers is to help insurers to assess the types of risks they face. Risks include natural hazards such as bad weather, hurricanes, tornadoes, fires, and floods. At the same time, brokers act on behalf of and in the interest of customers. They do comparison shopping to find the best deals and offer policies from more than one insurance company. Brokers also help their clients to outline risk management strategies, which are suitable for their profile. There are different types of risk to look into, including natural disasters, car accidents, credit risks, cash flow problems, legal liabilities, and others

Insurance Broking

In this article we will discuss about the registration of Insurance Broking Company in India

Categories of the Insurance brokers

Following are the categories of Insurance Brokers:

  • Direct broker (life)
  • Direct broker (general)
  • Direct broker (life & general)
  • Reinsurance broker
  • Composite broker

Registration of Private Limited Company/LLP

In India, IRDA regulates the Insurance broking business in India and as per regulations of IRDA, an Insurance Broker should be registered as Private Limited Company /LLP in India

Name of Insurance Broking Company

The insurance brokers shall have the word ‘Insurance Broker’/ ‘Insurance Brokers’/‘Insurance Broking’ in the name of the Insurance Broker to reflect their line of activity and to enable the public to differentiate insurance brokers registered with the Authority from other non-registered insurance-related entities.

Minimum Capital Requirement for Insurance Broking Business

 Any applicant seeking to become an insurance broker shall have a minimum paid-up capital/contribution as mentioned below:

CategoryMinimum Capital/ Contribution (Rupees)
Direct brokerSeventy Five Lakh
Reinsurance brokerFour crore
Composite brokerFive crore

The above Capital should be only in equity and not in any other form, further, the investment in the applicant by the promoters/ shareholders/ partners shall be from their own funds and not from any other sources.

Explanation: Own funds do not include funds arranged by way of borrowings or loans.

Net-worth requirements for Insurance Broking business

The net-worth of an Insurance Broker shall at no time during the period of the certificate of registration fall below:

  • Rupees fifty lakh for a direct broker,
  • 50% of the minimum capital requirements or contribution or equivalent for reinsurance / composite broker.

Explanation: For the purposes of these regulations, “net worth” shall have the meaning assigned to it in the Companies Act 2013 and as amended from to time

 Every Insurance broker shall submit net worth certificate duly certified by an Auditor every half-year to IRDA

Deposit requirements for Insurance Borking Business in India

Every insurance broker shall before the commencement of their business, deposit and keep deposited with any scheduled bank a sum equivalent to:

  • Rupees ten lakhs for Direct broker
  • 10% of the minimum capital/ contribution specified under Regulation 19(1)for reinsurance / composite broker in fixed deposit, which shall not be released to them without the prior written permission of the Authority.
  •  The deposit shall have a lien with the Authority
  • Such deposit shall not be pledged for taking any loan or overdraft facility by the insurance broker
  • Every insurance broker shall furnish to the Authority as and when called upon to do so a non-encumbrance statement from scheduled bank in which such fixed deposit is kept
  • The interest earned on the deposit shall not be subject to lien with the Authority

Professional indemnity insurance

Need to furnished, within 12  months for newly registered brokers

Other services that can be provided by Insurance Broker 

Claim Consultancy and Risk Management can also be provided by Insurance brokers

Application Fee for Registration of Insurance Broker

Direct broker: Rs.25,000 and Rs.50,000/- after the grant of in-principle approval in case of a fresh applicant.

In the case of Renewal of Registration, the fee shall be Rs 1,00,000/- for a period of 3 years

Training Requirements

  • Fifty hours (50hrs) of theoretical and practical training from an institution recognised by the IRDA from time to time, and should have passed an examination, at the end of the period of training, conducted by the National Insurance Academy, Pune or any other examining body recognized by the Authority
  • 25 hours if the applicant is CA, CS etc and should pass the examination within 1 year

Step by Step Procedure for Registration of Insurance Broking Business

  • Register Private Limited company by including word “Insurance Broker’/ ‘Insurance Brokers’/‘Insurance Broking
  • Increase Capital to Rs. 75 Lakh
  • Obtain Training and Pass Required Examination
  • Make a Deposit of Rs. 10 Lakh
  • Apply to IRDA for Licence
  • Follow up with IRDA
  • Insurance Broking Licence
  • Professional Indemnity Insurance

Fastlegal Provide Insurance Borking Business Registration Services in India, Please call at 9782280098 or email us at [email protected]

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New criteria for classification of micro, small and medium enterprises (MSME)

Indian government has announced the relief of measures for economic revival due to COVID19 crisis happening. The government has is the definition of m s m e Enterprises to increase the limits of an investment in the business.

Earlier there was a different criteria for manufacturing as well as service units, now all these entities are treated as equally and criteria for both the manufacturing and service units are same.

this will cover more new service enterprises as well as manufacturing units with the higher turnover and investment into the micro small and medium enterprises definition and these Enterprises can now avail the various schemes provided to MSME by government of India

this criteria is applicable for all the entities suggest proprietorship firms,LLP, private limited companies and partnership firms

New criteria for classification of micro, small and medium enterprises (MSME):

msme


(i) a micro enterprise, where the investment in Plant and Machinery or Equipment does not
exceed one crore rupees and turnover does not exceed five crore rupees;
(ii) a small enterprise, where the investment in Plant and Machinery or Equipment does not exceed
ten crore rupees and turnover does not exceed fifty crore rupees;
(iii) a medium enterprise, where the investment in Plant and Machinery or Equipment does not
exceed fifty crore rupees and turnover does not exceed two hundred and fifty crore rupees.

The new criteria for MSME is effective from 1st June 2020.

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How to Register Producer Company in Rajasthan

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

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 : 

  1. PAN card
  2. Aadhar Card
  3. Bank statement or Bank pass book with name address and Last entry should not be older than 2 months
  4. Passport size photograph of all the applicants
  5. Certificate/Identity that all the applicants are involved in the activities relating to producer company
  6. Video of 20 seconds for digital signature
  7. Email ID
  8. Mobile number

Documents required for Office Address  

  1. Electricity bill of office address of producer company
  2.  rent agreement if rented
  3.  NOC from Owner

Minimum Requirements for Producer Company Registration : 

  • 10 Members 
  • 5 Directors ( Members and Directors can be same person)
  • Should be engaged in activities of producer company
  • Minimum Authorised Capital Should be Rs.5 Lakhs

Time Taken for Registration of Producer Company 

Generally it Takes around 20-25 working Days 

Essential features of a PO?

  • It is formed by a group of producers for either farm or non-farm activities.
  • It is a registered body and a legal entity.
  • Producers are shareholders in the organization.
  • It deals with business activities related to the primary produce/product.
  • It works for the benefit of the member producers.
  • A part of the profit is shared amongst the producers.
  • Rest of the surplus is added to its owned funds for business expansion.

Important Activities of Producer Organisation

  • Procurement of inputs
  • Disseminating market information
  • Dissemination of technology and innovations
  • Facilitating finance for inputs
  • Aggregation and storage of produce
  • Primary processing like drying, cleaning and grading
  • Brand building, Packaging, Labeling and Standardization
  • Quality control
  • Marketing to institutional buyers
  • Participation in commodity exchanges
  • Export

Fastlegal Provides Producer Company Registration in Rajasthan , Call 9782280098 or Place your request below

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RBI extends EMI moratorium for another three months

RBI today announced to extend the EMI moratorium for another period of three months from 01st of June to 31st August 2020, this means that the existing EMI holiday applicable on loans including working capital limits are further extended to next three months, starting from June 2020.

EMI moratorium

RBI further announced that Working capital interest can further be treated as term loan outstanding and can be repaid in installments up to March 2021.

This is applicable to all types of borrowers including Individuals , Proprietorship, Partnership , LLP, Private Limited Company and others

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How to Apply for Drug Licence in Rajasthan

If you are planning to Open Retail or Wholesale Medical Shop in Rajasthan , Drug Licence in Rajasthan is compulsory required to be obtained from Rajasthan Drug Controller Organisation.

Popular Type of Drug Licence in Rajasthan for Medical Establishment

  • Retail License
  • Wholesale License

Retail Drug Licence in Rajasthan

Retail Drug Licence is required for opening of Retail Medical Shop in Rajasthan, to apply for a retail license in Rajsthan for medical shop following information and documents are required :

Information and Documents required for Obtaining Retail Drug Licence in Rajasthan

  • Name of Firm
  • Type of Firm- Proprietorship Firm/Partnership Firm/LLP/Private Limited
  • Partnership Deed, MOA, and AOA in case of Private Limited Company
  • Aadhar Card of Applicant/Authorised person
  • PAN Card of Applicant/ Authorised Person
  • Mobile No
  • Email id
  • Details of Registered Pharmacists
    • Aadhar Card
    • Pharmacist Reg. No
    • Experience
    • PAN Card
    • Mobile No
    • Email id
    • Registration Certificate
    • Specimen Signature
  • Office Address
  • Electricity Bill of Office Address
  • Rent/Lease Agreement, if a shop is on rent
  • Blueprint of Shop
  • Ward No of Office Address
  • Police Station Details of Office Address
  • Refrigerator Details, if any
    • Capacity of Refrigerator
    • Model of Refrigerator
    • Refrigerator Purchase Voucher/ Declaration

Licenses Fee for Application of Retail Drug Licence in Rajasthan:

Govt Fee Rs. 3000

Following Arrangement Should be Made in Shop

  • Shop height is greater than 8 feet
  • The Name of Firm Displayed On Upperside of Shutter With Paint Including Mobile Number/ Chemist And Drugist Mentioned For Retail Sale Shop
  • For Keeping Expired Drugs With Display “Expired Drugs Not For Sale”
  •  For Storing Veterinary Drugs With Display “Veterinary Drugs Not For Human Use- Treatment Of Animals Only

Wholesale Drug Licence in Rajasthan

If you are doing medicine wholesale business by supplying it to medical stores across in Rajasthan , than you are required to obtain Drug Licence in Wholesale Category

Information and Documents required for Obtaining Wholesale Drug Licence in Rajasthan

  • Name of Firm
  • Type of Firm- Proprietorship Firm/Partnership Firm/LLP/Private Limited
  • Partnership Deed, MOA, and AOA in case of Private Limited Company
  • Aadhar Card of Applicant/Authorised person
  • PAN Card of Applicant/ Authorised Person
  • Mobile No
  • Email id
  • Details of Competent Person/ Registered Pharmacists
    • Aadhar Card
    • Pharmacist Reg. No
    • Experience
    • PAN Card
    • Mobile No
    • Email id
    • Registration Certificate
    • Specimen Signature
  • Office Address
  • Electricity Bill of Office Address
  • Rent/Lease Agreement, if shop is on rent
  • Blueprint of Shop
  • Ward No of Office Address
  • Police Station Details of Office Address
  • Refrigerator Details, if any
    • Capacity of Refrigerator
    • Model of Refrigerator
    • Refrigerator Purchase Voucher/ Declaration

In the case of Wholesale drug Licence above requirements of the retail license is required except that in place of registered pharmacist details of any other competent person having experience may be given.

Inspection by Drug Inspector for Drug Licence:

Every establish is inspected by drug Inspector of the area in which your business is located.

How to Apply for Drug Licence in Rajasthan Online with Fastlegal

  • Decide Type of Firm in which you want to carry on Business
  • Register your Firm or Company ( We will help you for Firm/Company registration also)
  • Collect all necessary documents
  • Email us all the documents at [email protected]
  • We will apply your Licence application

Fastlegal provide Drug Licence Registeration services in Rajasthan, Place your request below or call us at 9782280098