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Must read before starting a business (or for business already started). It is about Trade Mark

Sudheendra Kumar
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Must read before starting a business (or for business already started). It is about Trade Mark

Must read before starting a business (or for business already started). It is about Trade Mark

What is Trademark?

A trademark (popularly known as brand name) in layman’s language is a visual symbol which may be a word signature, name, device, label, numerals or combination of colours used by one undertaking on goods or services or other articles of commerce to distinguish it from other similar goods or services originating from a different undertaking. The legal requirements to register a trademark under the Act are:

The selected mark should be capable of being represented graphically (that is in the paper form).
It should be capable of distinguishing the goods or services of one undertaking from those of others.

It should be used or proposed to be used mark in relation to goods or services for the purpose of indicating or so as to indicate a connection in the course of trade between the goods or services and some person have the right to use the mark with or without identity of that person.

Trademark Protection-

Trademark protection refers to safeguarding intellectual property rights to protect a trademark from counterfeiting and infringement of your goods & Serices. A trademark is an established or legally registered mark that identifies a manufacturer’s unique goods and services. The owner of a distinctive mark can apply to receive trademark protection. However, trademark protection also requires you to continually use the mark in commerce.

To protect your trademark from infringement and counterfeiting, you need to make sure your mark is not used by others, and you need to bring legal charges against those who use your mark without permission. By conducting research, you can develop a strong trademark or service mark that other competitors will find difficult to steal.

Why to register your Business (Goods or Services) under Trademark-

While it is not required by law, it is a good idea to register the name of your business as a trademark. In the event that another business tries to use the same or similar name, you will have legal recourse to stop it. A trademarked name marks all of your products and services as yours and no one else’s and can also protect you from counterfeit products.

Many banks will not allow you to open a business account under your business name if it is not trademarked. Some banks will allow a DBA, which is short for “doing business as.” DBA’s create a registered fictitious business name but do not provide legal protection like a trademark.

Trademarking also gives you legal ownership in specific locations, be they local, state, or nationwide. With a trademark, you retain exclusive rights to mark your products, with no one else being allowed to use your symbol, name, or slogan in that particular region.

Trademarks are also used as a way of protecting consumers. When businesses are responsible for any products or services bearing their trademark, they tend to take more pride in products. To maintain a good reputation, trademarked companies will often work harder to provide quality services and products.

Trademarks provide protection for both businesses and consumers, making them an important part of running a successful company.

The Registered Proprietor of a trademark can create establish and protect the goodwill of his products or services, he can stop other traders from unlawfully using his trademark, sue for damages and secure destruction of infringing goods and or labels.

The Legal professionals render services to the entrepreneurs regarding selection registration and protection of trademarks and get remunerations for the same

The Purchaser and ultimately Consumers of goods and services get options to choose the best.

The registration of a trademark confers upon the owner the exclusive right to use the trademark in relation to the goods or services in respect of which the mark is registered and to indicate so by using the symbol (R), and seek the relief of infringement in appropriate courts in the country. The exclusive right is however subject to any conditions entered on the register such as limitation of area of use etc. Also, where two or more persons have registered identical or nearly similar marks due to special circumstances, such exclusive right does not operate against each other.

Trademarks can appreciate in value over time. The more your business reputation grows, the more valuable your brand will be.

Trademarks provide value beyond your core business. Trademarks can lead the way for expansion from one industry to another, such as from personal care to clothing or eye ware. If you desire it, your trademark can lead to the acquisition of your business by a larger corporation.

Trademarks are a property asset, similar to real estate that can be bought, sold, licensed (like renting or leasing) or used as a security interest to secure a loan to grow your business.

5 reasons Trademark registration is important for your business-

1.Trademarks are an effective communication tool.

2.Trademarks make it easy for customers to find you.

3.Trademarks allow businesses to effectively utilize the Internet and social media.

4.Trademarks are a valuable asset.

5.Trademarks never expire.

For any query Contact, WhatsApp on 9820088394 or email on Sudheendra@sudheendra.co.in

Clarification On Filing Of Annual Reports In XBRL Mode – BSE

Sudheendra Kumar
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0
Clarification On Filing Of Annual Reports In XBRL Mode – BSE

Clarification On Filing Of Annual Reports In XBRL Mode – BSE

In continuation to the Circular to the Companies dated February 08, 2019 with regards to filing of Annual Report in XBRL mode under Regulation 34 of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, the following may be noted.

In order to enable ease of business and make filing easier, BSE had adopted the XBRL taxonomy issued by the Ministry of Corporate Affairs, Government of India, for submission of Financial Statements in XBRL mode. All the listed entities can download the XBRL taxonomy from website of Ministry of Corporate Affairs. All the listed entities can submit to the Exchange, the Annual Report prepared using the XBRL taxonomy of Ministry of Corporate Affairs, itself.

· Filings in respect of Annual Report has to be done by all listed entities in XBRL mode in addition to the currently used PDF mode mandatorily, for periods ending March 31, 2019.
· The submission in XBRL mode may be made at the same time when the listed entities file Form AOC-4 (XBRL) with Ministry of Corporate Affairs.
· The timeline for submission of Annual Report in PDF mode shall be as per the amended Regulation 34 of SEBI (LODR) Regulations, 2018 w.e.f. April 01, 2019.
Listed entities may, if they so desire, file their Annual Report for FY 2017-18 also in XBRL on the BSE Listing Centre to test the system and get the feel of ease of filing. All listed entities are urged to cooperate in this initiative and help us to make the filing process with the Exchange easier, more convenient and faster.

Sale or Lease of a fully equipped Garment Unit in Andheri East, Mumbai.

Sudheendra Kumar
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0
Sale or Lease of a fully equipped Garment Unit in Andheri East, Mumbai.

Sale or Lease of a fully equipped Garment Unit in Andheri East, Mumbai.

Our client is looking for a buyer or who is willing to take the same on rent.

Details
3 Galas in an Industrial Estate, off Marol Maroshi Road, Marol Andheri East, Mumbai 400059.

GALA 213 – 650 sq ft carpet Area – 2nd Floor, Unit 213 Second Floor has a setup of an Enclosed Office area of 75 sq ft with laminated Office Tables having sitting capacity for 4 Staff/ 4 Computers with LAN Connection / Filing Rack / Siemens EPABX having connections for 15 Extensions with 1 Tonne Window AC
• 2 Lofts for Storage of Office Records
• Another 75 sq ft Office for 2 Executives/3 Guests with 1.5 Tonne AC
• This Unit has 2 Garment Checking Wooden Tables/ Garment hanging Rods for a capacity of hanging 1000/ pcs garment
• 2 Trial Rooms
• 1 Washroom / Toilet
• 2 AC’s – 2 Tonne each for the Clients
• Fully Equipped Unit with Office Lights/ Fans with Siemens Switch Board / Circuit Breakers etc
• The Independent Unit has 2 Shutters/ Doors viz 1 Entry /Exit points which can be Locked.

GALA 214 – 650 sq ft carpet Area – 2nd Floor
• This Unit has 35 Industrial Single Needle Sewing machines of imported brands viz Juki/ Brother. All in working condition. 20 Wooden Stools across every Machine for Workers to sit & work
• 2 Industrial Kashyap Fusing Machines
• 3 Industrial Boilers
• 1 Wooden Table for Cutting/ Checking Garments
• 1 Wooden Ironing Table
• 15 Wall Mounted Fans/ Four Ceiling Fans for Workers
• 1 AC of 5 Tonne ‘SYMPHONY ‘ COOLING / EXHAUST Fresh Air Coolers
• Mezzanine Floor covering 3/4th area of the Unit, fully lighted with Staircase
• 2 shutters having Exit/ Entry.
• 1 Washroom /Toilet for Workers
• Unit can be independently locked

GALA 215 – 650 sq ft carpet Area – 2nd Floor
• 1 Strong / Store Room of 75 sq ft having slotted angle Racks with a capacity to Storing (30000)Metres Of Fabrics
• 60 sq ft of Back Office with 3 Lan connected Computers with Wooden OFFICE Tables / Chairs for 3 Staff .Also having 0.75 tonne Window AC
• 8 Feet long /with 5 feet Width Laminated Cutting Table for Garment Cutting BOTH SIZE WISE / CUSTOMISED CUTTING.
• 1 AC of 2 Tonnes for 4 Cutting Masters
• 15 Independent Lockable Cabinets for Storing Buttons/ Threads / Zippers / Grippers / Pocketing / Scissors / Size wise Cuff/ Collars etc
• Unit has Two Shutters having Exit /Entry points which can be independently locked
Additional Information:
There are 3 galas / units which are fully owned by them. There is no loan/ lien/ mortgage on these galas. The entire property has no liability. All the premises are licensed under BMC / Factory Act. The business venture can be handed over with clients and good will. This is a garment business has in – house production / finishing units with also having juki brand kaj-button machines / five inter/ over lock machines (5 thread) machines / one hemming machine (ijimato) brand five extra cutting tables for cutting masters. The business is in a SERVICE INDUSTRIAL ESTATE with each Unit having a Power Capacity of 10 HP. Each Unit has 3 PHASE Electrical connection.

Interested contractors may call / WhatsApp on 98200-88394 for further discussion.

Intellex Consulting is a One-Stop-Consulting to Manage your Accounting and Taxation (Income Tax & GST) , Companies Act & R.O.C compliance and all other Legal and Statutory Compliances. We are a team of Chartered Accountants Company Secretary and Lawyers. We also undertake Managing your Accounting and Compliance work in your office.

Team Intellex

www.intellexconsulting.com ,
www.startupstreets.com , www.intellexfinance.com

NCLAT: COC POSSESSES JURISDICTION TO CHANGE ITS OPINION IN FAVOUR OF RESOLUTION PLAN

Sudheendra Kumar
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0
NCLAT: COC POSSESSES JURISDICTION TO CHANGE ITS OPINION IN FAVOUR OF RESOLUTION PLAN

NCLAT: COC POSSESSES JURISDICTION TO CHANGE ITS OPINION IN FAVOUR OF RESOLUTION PLAN

NCLAT quashes NCLT’s order rejecting the resolution plan for Jyoti Structures Ltd. (‘Corporate Debtor’) and ordering liquidation, holds that the Committee of Creditors (‘CoC’) possesses the jurisdiction to change its opinion in favour of the resolution plan to make it a success; Notes that (i) CoC’s e-voting on the resolution plan had went on for several days, beginning with a voting share of 62.66% in its favour, (ii) subsequently some of the CoC members changed their opinion and voted in favour of the resolution plan, thereby making the total voting share rise to over 81%; Observes that “it is always open to the members to change its opinion subsequently with the approval of the rest of the members of the ‘Committee of Creditors’ but it should be within 270 days.”, but at the same time, clarifies that “once voted in favour of the resolution plan (the CoC) cannot change its views.”; On noting that one of the grounds why NCLT had rejected the plan, was because a total period of 270 days had lapsed by the time last voting took place, NCLAT remarks that NCLT should have excluded the period of 8 days i.e. the period during which the order was passed, signed and uploaded, relies on its ruling in Quinn Logistics in this regard; Therefore holds that the resolution process had taken place within 270 days, and observing that the resolution plan was in compliance with the requisite provisions of the Code, remits the matter to NCLT for for approval of the plan: New Delhi NCLAT

The order was passed by Justice S.J. Mukhopadhaya (Chairperson) and Justice Bansi Lal Bhat (Member- Judicial).


I-T DEPT LOOKING AT IBC RESOLUTION CASES FOR POSSIBLE TAX VIOLATIONS – BUSINESS LINE

Sudheendra Kumar
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0
I-T DEPT LOOKING AT IBC RESOLUTION CASES FOR POSSIBLE TAX VIOLATIONS – BUSINESS LINE

I-T DEPT LOOKING AT IBC RESOLUTION CASES FOR POSSIBLE TAX VIOLATIONS – BUSINESS LINE

The Income Tax Department has sought details of the status and identification of creditors and debtors under the Insolvency and Bankruptcy Code (IBC) to investigate possible tax violations.

Senior IT officials told BusinessLine that the Mumbai Office of the Director of Intelligence and Criminal Investigation has been in touch with the National Company Law Tribunal (NCLT) seeking minute details of the parties in all such cases where it believes that tax violations may have happened. The information on Resolution Professionals (RPs) associated with the cases have also been sought.

The information provided by the NCLT to the Income Tax Department is under section 133 (6) of the Income Tax Act. Under section 133 (6), department officials are empowered to seek information from any person, banks, companies and other institutions, which could be useful for an inquiry under the Act, the official said.

The officials said the attention of the department has been drawn to cases, where upfront large sums of money have been paid to the creditors for settling some of the claims. The cases where the debts have been converted into equity capital are also been looked into.

The pan numbers of creditors and IT circles in which they file their taxes are also being examined for further action.

The interconnectedness between the IT Act and the IBC is also being looked into by the tax authorities, so as to check whether they are secured creditors under the IBC.

The IBC came into existence so as to consolidate and amend the laws relating to reorganisation and insolvency resolution of corporates, partnership firms and individuals in a time-bound manner for maximisation of the value of assets of such persons. The IBC attempts to balance the interests of all the stakeholders, including payment of government dues.


SEBI STREAMLINES PROCEDURE TO ISSUE CERTIFIED COPIES OF ORDERS, CIRCULARS

admin
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SEBI STREAMLINES PROCEDURE TO ISSUE CERTIFIED COPIES OF ORDERS, CIRCULARS

SEBI STREAMLINES PROCEDURE TO ISSUE CERTIFIED COPIES OF ORDERS, CIRCULARS
Markets regulator Sebi has streamlined the procedure for issuing certified copies of orders and circulars to the parties involved and other applicants.

For the parties involved in the proceedings, the regulator said certified copies of the orders passed by Sebi will be provided without charging any fee.

However, for additional certified copies of the order, the applicants will have to pay fees, the Securities and Exchange Board of India (Sebi) said in a circular dated April 4.

Earlier, Sebi charged fees for certified copies from the person involved in proceedings.

The regulator has also spelt out the procedure for issuing certified copies to applicants who are not directly related to the particular proceeding.

A fee of Rs 50 per order or circular or Rs 5 per page, whichever is higher, will be charged as fees for each certified copy. The amount can be paid along with the application by way of a demand draft or direct credit in the bank account of the board.


BOGUS CAPITAL GAINS: LTCG ON SALE OF SHARES VIA RECOGNISED STOCK EXCHANGE

Sudheendra Kumar
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0
BOGUS CAPITAL GAINS: LTCG ON SALE OF SHARES VIA RECOGNISED STOCK EXCHANGE

BOGUS CAPITAL GAINS: LTCG ON SALE OF SHARES VIA RECOGNISED STOCK EXCHANGE

Rajesh Singhvi and Sons (HUF) Vs ITO (ITAT Chennai)

Claim of the assessee for exemption u/s.10(38) of the Act, on alleged long term capital gains arising on sale of shares of M/s.Cresanda Commercial Solutions Ltd and M/s. Surabhi Chem & Investment Ltd were disallowed by the ld. Assessing Officer considering these to be penny stock companies and alleging assessee’s failure to bring evidence with regard to the genuineness of the transactions. It is not disputed by the ld. Departmental Representative that Revenue had relied on statements recorded during a survey u/s.133A of the Act in one M/s. Sikaria Share & Stock Broking Services Pvt. Ltd. for disbelieving the sale of shares in M/s.Cresanda Commercial Solutions Ltd. The assessment order also refers to statements of Mr. Deepak Patwari and Mr. Anup Maheswari, at para 4.4.2, statements of Mr. Bikas Sureka, Mr. Anil Khemka, Mr. Amit Saraogi, Mr. Sauraj Jhunjhunwala, Mr. Sajendra Mookim at page 7 and that of Mr. Sanjeev Kumar Agarwal at page 8. These were all relied on by the ld. Assessing Officer for disbelieving the claim of sale in the shares of M/s. Surabhi Chemicals and Investments Ltd. It is also not disputed that statements recorded from these persons and records relied on by the Revenue for disbelieving the claim of the sale of shares, were not put to the assessee. Undisputedly, the sale of shares were through recognized stock exchange and through a recognized stock broker.


Running Educational Institute in NCR (Delhi) looking for Investment.

Sudheendra Kumar
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0
Running Educational Institute in NCR (Delhi) looking for Investment.

Running Educational Institute in NCR (Delhi) looking for Investment.

A 10 year old Educational organisation running different verticals of education from Pre-nursery to Phd level.

The organization is single family controlled Society. It is a profitable venture and gross revenue of above 11 cr regularly in last 3 years, consistently increasing.

The Campus is in DELHI NCR on NH1.

The courses offered are Diploma, Bachelors, Masters, Phd in Engineering and Management , CBSE12+ school ( English medium).

Proposed Courses of all level of Law, B-ed, Nursing, B pharma and BAHMs in due course

The land Area is Approx. 13 Acres.

The construction Area is Approx. 2.8 LakhSq feet ( academic area is centrally air conditioned)

The site development is 5 Lakh Sq Feet

Total Student 800+

Hostel Capacity of 400( boys and girls) Centrally Air cooled.

All Courses are Approved and Affiliated with respective Authorities and up to date.

They are looking for funds of about Rs.15 Crores and above for growth of the organization. 

More Details will be shared with interested parties.

Many more similar proposals in many business segments are available with our team for interested Investors.

Intellex Consulting is a One-Stop-Consulting to Manage your Accounting and Taxation (Income Tax & GST) , Companies Act & R.O.C compliance and all other Legal and Statutory Compliances. We are a team of Chartered Accountants Company Secretary and Lawyers.

Please WhatsApp the details on 98200-88394 or email on Sudheendra@sudheendra.co.in

www.intellexconsulting.com , www.intellexfinance.com, www.startupstreets.com

MCA UPDATE ON FORM DPT-3- Analysis of General Circular No. 05/2019 dated 12/04/2019

Sudheendra Kumar
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66
MCA UPDATE ON FORM DPT-3- Analysis of General Circular No. 05/2019 dated 12/04/2019

MCA UPDATE ON FORM DPT-3

Analysis of General Circular No. 05/2019 dated 12/04/2019

1) Companies covered
Every Company other than Govt. Company

2) Requirement
One time Return in Form DPT-3 w.r.t. all outstanding receipt of money or loan by a Company but not considered as Deposits

3) Period for which data required to be furnished
From 01/04/2014 To 31/03/2019

4) Due Date of Filing
Within 30 days from the date of deployment of Form

5) Levy of Additional Fees
Additional Fees shall be levied if the Form DPT-3 is filed after 30 days from the date of its deployment on MCA portal.

WhatsApp on 9820088394 for any further guidance

Input Tax Credit under GST

Sudheendra Kumar
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0
Input Tax Credit under GST

A registered person will be eligible to claim Input Tax Credit (ITC) on the fulfilment of the following conditions:

  1. Possession of a tax invoice or debit note or document evidencing payment
  2. Receipt of goods and/or services
  3. Goods delivered by supplier to other person on the direction of a registered person against a document of transfer of title of goods
  4. Furnishing of a return
  5. Where goods are received in lots or installments ITC will be allowed to be availed when the last lot or installment is received.
  6. Failure of the supplier towards supply of goods and/or services within 180 days from the date of invoice, ITC already claimed by recipient will be added to output tax liability and interest to paid on such tax involved. On payment to supplier, ITC will be again allowed to be claimed
  7. No ITC will be allowed if depreciation has been claimed on tax component of a capital good
  8. Time limit to claim ITC against an Invoice or Debit Note is earlier of below dates:

The due date of filing GST Return for September of next Financial year
OR
Date of filing the Annual Returns relevant for that Financial year

For instance, XY Corp, a buyer has a Purchase Invoice was dated 8th July 2017( FY 2017-18), wants to claim GST paid on that purchase. As per the criteria laid down to reckon the time limit:

The Due date of filing GST return for September 2018( FY 2018-19) is 20th October 2018 and the Date of filing GST Annual Return for FY 2017-18 is 31st December 2018, whichever is earlier will be the time period within which XY Corp has to claim ITC. Therefore, the date is 20th October 2018 and XY Corp can claim this ITC in any of the months between July 2017 to September 2018.

WhatsApp on 9820088394 for any queries

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