Q-HOW TO RESISTER A POLITICAL PARTY

ANS-

An application for registration is to be submitted to the Secretary, Election Commission of India, Nirvachan Sadan, Ashoka Road, New Delhi-110001 in the Performa prescribed by the Commission. The Performa is available on request by post or across the counter from the office of the Commission. The Performa and necessary guidelines are also available on the Commission’s website under the main heading Judicial References, sub-heading Political Party and sub-sub-heading Registration of Political Parties. The same can be downloaded from there also. The application should be neatly typed on the party’s letter head, if any, and it should be sent by registered post or presented personally to the Secretary to the Election Commission within thirty days following the date of formation of the party.

2. The application must be accompanied by the following documents/information:-

• A demand draft for Rs. 10,000/- (Rupees Ten Thousand Only) on account of processing fee drawn in favour of Under Secretary, Election Commission of India, and New Delhi. The processing fee is non-refundable.
• A neatly typed/printed copy of the memorandum/rules and regulations/Constitution of the Party containing a specific provision as required under sub-section (5) of Section 29A of the Representation of the People Act, 1951 in the exact terms, which reads “—————(name of the party) shall bear true faith and allegiance to the constitution of India as by law established, and to the principles of socialism, secularism and democracy and would uphold the sovereignty, unity and integrity of India”. The above mandatory provision must be included in the text of party constitution/rules and regulations/memorandum itself as one of the Articles/clauses.
• The copy of the party Constitution should be duly authenticated on each page by the General Secretary/President/Chairman of the Party and the seal of the signatory should be affixed thereon.
• There should be a specific provision in the Constitution/rules and regulations/memorandum of the party regarding organizational elections at different levels and the periodicity of such elections and terms of office of the office-bearers of the party.
• The procedure to be adopted in the case of merger/dissolution should be specifically provided in the Constitution/rules and regulations/memorandum.
• Certified extracts from the latest electoral rolls in respect of at least 100 members of the party (including all office-bearers/members of main decision-making organs like Executive Committee/Executive Council) to show that they are registered electors.
• An affidavit duty signed by the President/General Secretary of the party and sworn before a First Class Magistrate/Oath Commissioner)/ Notary Public to the effect that no member of the party is a member of any other political party registered with the Commission.
• Individual affidavits from at least 100 members of the party to the effect that the said member is a registered elector and that he is not a member of any other political party registered with the Commission duly sworn before a First Class Magistrate/Oath Commissioner)/Notary Public. These affidavits shall be in addition to the furnishing of certified extracts of electoral rolls in respect of the 100 members of the applicant party.
• Particulars of Bank accounts and Permanent Account Number if any in the name of the party.
• Duly completed CHECK LIST along with requisite documents prescribed therein.

3. The application along with all the required documents mentioned above should reach the Secretary to the Commission within 30 days following the date of formation of the party.

4. Any application made after the said period will be time-barred.

Q-HOW TO FORM A SOLE PROPRIETERSHIP FIRM

ANS-The sole proprietorship is the simplest business form under which a single person can operate a business with a brand name. The sole proprietorship is not a legal entity. It simply refers to a person who owns the business and is personally responsible for its debts and day to day affairs. A sole proprietorship can operate under the name of its owner.
The sole proprietorship is getting popular because of its simplicity and nominal cost. A sole proprietor need only to register his or her name and secure local licenses, and the sole proprietor is ready for business.
Advantages of Proprietorship:
1. It can be established instantly and easily.
2. Sole proprietor owners can, and often do, commingle personal and business property and funds, something that partnerships, LLPs and corporations cannot do.
3. Sole proprietors need not observe formalities such as voting and meetings associated with the more complex business forms.
Disadvantages of Proprietorship:
1. The owner of a sole proprietorship remains personally liable for all the business’s debts. So, if a sole proprietor business runs into financial trouble, creditors can bring lawsuits against the business owner.
2. The owner of a sole proprietorship typically signs contracts in his or her own name, because the sole proprietorship has no separate identity under the law.
3. Owners cannot raise capital by selling an interest in the business.

Mandatory documents required for export and Import of goods

ANS-The Government of India has issued a notification no. 114 (RE-2013)/2009-2014 dated March 12, 2015 which came into effect on April 01, 2015. According to which the following documents are mandatorily required for Export and Import of goods:

1. Mandatory documents required for export of goods from India:
2.  
1. Bill of Lading/Airway Bill
2. Commercial Invoice cum Packing List
3. Shipping Bill/Bill of Export
3. Mandatory documents required for import of goods into India:
1. Bill of Lading/Airway Bill
2. Commercial Invoice cum Packing List
3. Bill of Entry

Further, if export or import of specific goods or category of goods, which are subject to any restrictions/policy conditions or require NOC or product specific compliances under any statute, then regulatory authority concerned may notify additional documents for purposes of export or import.

Further that regulatory authority concerned may electronically or in writing seek additional documents or information, as deemed necessary to ensure legal compliance in specific cases of export or import of goods.

How to form a Joint Venture in India?

A foreign company can invest in an Indian company through a joint venture agreement in the areas which are otherwise not reserved exclusively for the public sector or which are not under the prohibited categories such as real estate, insurance, agriculture and plantation.

Foreign Companies can set their operations in India by forming a joint venture company with one or more than one Indian partner. As it seems from its name a joint venture is a new enterprise owned by two or more participants to share markets / intellectual property and its knowledge and its profit too.

It is essentially a medium to long-term contract which is specific and flexible. Though, the joint venture a newly created business enterprise can be represented and its participants can continue to exist as separate firms. It can also be organized as a partnership firm, a corporation or any other form of business organisation which the participating firms choose to select.

Advantages of Joint Venture Company:

• Contribution by partners of money, property, effort, knowledge, skill or other assets to the common undertaking.
• Joint property interest in the subject matter of the venture.
• Right of mutual control or management of the enterprise.
• Right to share in the property.

Disadvantages of Joint Venture Company:

• Joint ventures are of limited scope and duration.
• They involve only a small fraction of each participant’s total activities.
• Each partner must have something unique and important to offer the venture and simultaneously provide a source of gain to the other participants.

Foreign investment into India is governed by the Foreign Direct Investment (FDI) policy and the Foreign Exchange Management Act, 1999 (FEMA). The Government has set up a Indian Investment Centre in the Ministry of Finance as a single window agency for authentic information or any assistance that may be required for investments, technical collaborations and joint ventures.