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LegalRaj Consultants Services Private Limited is a Legal and Corporate Advisory Company. Our Company provides a Legal, Financial, Corporate-Secretarial, FEMA, Intellectual Property related consultancy and advisory services to the clients.
Register Nidhi Limited Company - Nidhi Company is a company registered under the Companies Act, 2013, which has a sole objective of cultivating the habit of thrift and savings amongst its members. Nidhi companies can take deposit or lend money to its members only. Therefore, the funds contributed for a Nidhi company are only from its members and used only by the shareholders of the Nidhi Company.
Nidhi Company is a class of NBFCs and RBI is empowered to issue directions to them in matters relating to their deposit acceptance activities. However, in recognition of the fact that these Nidhi Company deals with it’s shareholder-members only, RBI has exempted Nidhi Companies from the core provisions of the RBI Act, 1934 and other directions applicable to Nidhi Companies. Therefore, Nidhi Company is an ideal entity to take deposit from and lend to a specific group of people (that is within the members of the Company only).
Register Section 8 Company (Non-Profit Company Registration) - Not for profit Company is governed by Section 8 of the Companies Act, 2013, which has main object of promoting commerce, art, science, sports, education, research, social welfare, religion, charity, protection of environment or any such other object.', The profits, if any, or other income is applied for promoting only the objects of the company and no dividend is paid to its members. It is registered purely for charitable or not-for-profit purposes. Prior approval of Central Government is also required for registration of Section 8 Company.
It is similar to a Trust or Society; expect a section 8 Company is registered under the Central Government's Ministry of Corporate Affairs. Trusts and Societies are registered under State Government regulations. A section 8 Company has various advantages when compared to Trust or Society like improved recognition and better legal standing. Section 8 company also has higher credibility amongst donors, Government departments and other stakeholders.
Register Partnership Firm - A Partnership Firm is a traditional form of business structure for businesses that are owned, managed and controlled by an Association of People for profit. Partnership firms are relatively easy to start and are is prevalent amongst small and medium sized businesses.
There are two types of Partnership firms, registered and un-registered Partnership firm. The Registrar of Firms (ROF) has right to register partnership firm. In India it is mandatory in some states to register a Partnership firm with the Registrar of Firms however; it is advisable to register a Partnership firm due to the added advantages given to registered partnership firms. Partnership firms are created by drafting and executing a Partnership Deed amongst the Partners and registering the same with the Registrar of Firms. However, after introduction of Limited Liability Partnerships in India, Partnership Firms are fast losing their prevalence due to the added advantages offered by a Limited Liability Partnerships.
Register Producer Company - Producer Company primarily deals with agriculture and post-harvest processing activities. It is mainly registered with the main object of production, harvesting, procurement, grading, pooling, handling, marketing, selling, export of primary produce of the Members or import of goods or services for their benefit. Producer Company requires ten or more producers (individuals); or two or more producer institutions; or combination thereof. The members have necessarily to be primary producers. Producer Company shall have at least five and not more than fifteen directors over 85% of the Farmers in India are small and marginal farmers with land holdings of less than 2 hectares. This fragmentation in farmers and farm lands, leads to disorganization and it is not viable for Indian farmers to adopt the latest technologies. By organization of these farmers into producer companies, economies of scale can be unlocked and the livelihood of farmers can be improved. Thus the concept of Producer Company is aimed at empowering farmers by creating farming clusters organized as Producer Company.
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