Shivani Jain

Shivani Jain

Shivani has completed her B com LLB (Hons) and has the experience of writing various research papers during her college time. Earlier she was working as an Associate in a Delhi based Law Firm, but her interest in writing made her pursue Legal Content Writing as a career. Her core area of interest is in writing about various legal enactments, tax, and finance.

Conversion of Nidhi Company to NBFC: A Complete Guide

In India, the concept of Nidhi Company is emerging as a popular trend, as it the cheapest way to incorporate an NBFC or Non Banking Financial Company. It shall be considerate to note that an NBFC is governed by the Apex Bank, i.e., RBI. In contrast, a Nidhi Company is governed by the provisions specified […]

Operational and Credit Policy Norms for NBFCs: A Complete Guide

In India, the concept of NBFC has made its presence six decades back, i.e., around 1960, and since then this lending structure is playing a significant role in serving the lower income and backward sections of the society. Further, as compared to conventional banks, these entities are much easier to access and offers financial assistance […]

Amendment in Form SH-7 by the Ministry of Corporate Affairs

Recently, the MCA (Ministry of Corporate Affairs) has used its powers given under the provision of section 143 (11) of the Companies Act 2013 and issued a Notification No. G.S.R. 794(E), dated 24.12.2020, concerning the Amendments made by it in Form SH-7. Further, the said amendment was made under the Companies (Share Capital and Debenture) […]

FFMC Compliances: A Guide on Pre & Post Registration Compliances

In India, the utmost authority to deal with foreign currencies, coins, and forex is only with the Money Changers or the entities who are having Full Fledged Money Changer License as per section 10 of the FEMA 1999. The said license is given by the Apex Bank after the due inquiry and verification. That means […]

FFMC Registration from RBI: A Complete Guide on the Process

Any company or an individual who wants to carry out forex activities, such as trading or exchange needs to first obtain FFMC Registration from RBI. Further, a Full Fledged Money Changer is governed by section 10 of FEMA 1999 and the yearly guidelines and directions issued by RBI. Also, the other name for these entities […]

MCA Deferred the Applicability of CARO 2020 by One Year

Recently, the Ministry of Corporate Affairs has used its powers conferred under section 143 (11) of the Companies Act 2013 and issued an Order dated 17.12.2020, concerning the Amendments made by it in the Applicability of CARO 2020. The term CARO stands for the Companies (Auditors’ Report) Order 2020. Further, such an order will now […]

Incorporate Section 8 Company: Concept & Process to Register

In India, any person or an individual who wants to promote art, science, commerce, education, sports, social welfare, research, charity, environmental protection, religion, etc., needs to incorporate section 8 company. Although this business format is somehow similar to Trust and Societies, however, to obtain section 8 company registration, one requires to apply with the MCA […]

Cancellation of FFMC License: Reasons for Cancellation of License

A Full-Fledged Money Changer is an entity that is approved by the Apex Bank, i.e., RBI, to conduct Money Changing Activities in India. They mainly purchase foreign exchange from the tourists visiting India and sell the same to the people who are visiting foreign countries. That means they deal in the activities concerning Foreign Exchange. […]

Renewal of Full Fledged Money Changer License: A Complete Guide

The Authorised Money Changers or AMCs are the companies that have obtained FFMC (Full Fledged Money Changer License) under section 10 of FEMA 1999[1] from RBI. Further, in India, an AMC may register itself either as a Full Fledged Money Changer or Restricted Money Changer (RMC). However, it shall be considerate to note that the […]

RERA in Uttarakhand: Process to Register Project and Agent

According to the provisions stated under the Real Estate (Regulation and Development) Act 2016, it is compulsory for all the residential and commercial Real Estate Projects to obtain RERA Registration in the respective stated. In the same manner, every promoter and agent needs to make an application to the authority for obtaining registration under RERA […]

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