CDS Indian Army General Bipin Rawat's Choppers Crashed

General Vipin Rawat Helicopter Crash

 A military helicopter carrying Chief of Defense Staff Bipin Rawat and 13 others crashed soon after take-off in Tamil Nadu today. 13 people have died and a man is undergoing treatment for severe burns. There has been no official statement on General Bipin Rawat's condition.

General Rawat's wife, his defense assistant, security commandos, and Air Force personnel were onboard the aircraft.

Bipin Lakshman Singh Rawat is a Four Star General Of the Indian Army. He is the First chief of defense staff in India. He was one of the best and bravest soldiers who has served the motherland. WE ARE PROUD OF HIM. 

"An Indian Air Force Mi-17 V5 helicopter with CDS Gen Bipin Rawat crashed today near Coonoor, Tamil Nadu. An inquiry has been ordered to ascertain the cause of the accident," the IAF tweeted. Shortly after a Russian-made Mi-17 V5 helicopter took off from the Air Force Base in Sulur, Coimbatore, for Wellington in the Nilgiri Hills.

The helicopter was already taking off and could land in 10 minutes. AFP news agency said it came down about 10 km from the nearest road, forcing emergency workers to rush to the crash site.

63-year-old General Rawat took charge as India's first Chief of Defense Staff in January 2019. The post was established with the aim of integrating the three services - Army, Navy, and Air Force.

A former army chief, General Rawat was also appointed the head of the newly created Military Affairs Department.

Defense Minister Rajnath Singh visits General Rawat's house in Delhi.

Many former army chiefs expressed grief; He described the Mi-17 double engine helicopter as a very stable aircraft used for VVIP flights.

Private Limited Company

 All about Private Limited Company: A Complete Guide

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A private limited company is a company that is privately held for small businesses. The liability of the members of a Private Limited Company is limited to the number of shares respectively held by them. Shares of Private Limited Company cannot be publically traded. All the aspects of Private Limited Company are discussed in the article.

Characteristics of Private Limited Company

Members– To start a company, a minimum number of 2 members are required and a maximum number of 200 members as per the provisions of the Companies Act, 2013.

Limited Liability– The liability of each member or shareholder is limited. It means that if a company faces loss under any circumstances then its shareholders are liable to sell their own assets for payment. The personal, individual assets of the shareholders are not at risk.

Perpetual succession– The company keeps on existing in the eyes of law even in the case of death, insolvency, the bankruptcy of any of its members. This leads to the perpetual succession of the company. The life of the company keeps on existing forever.

Index of members– A private company has a privilege over the public company as it doesn’t have to keep an index of its members whereas the public company is required to maintain an index of its members.

A number of directors– When it comes to directors a private company needs to have only two directors. With the existence of 2 directors, a private company can come into operations.

Paid-up capital– It must have a minimum paid-up capital of Rs 1 lakh or such a higher amount which may be prescribed from time to time.

Prospectus– Prospectus is a detailed statement of the company affairs that is issued by a company for its public. However, in the case of a private limited company, there is no such need to issue a prospectus because this public is not invited to subscribe for the shares of the company.

Minimum subscription– It is the amount received by the company which is 90% of the shares issued within a certain period of time. If the company is not able to receive 90% of the amount then they cannot commence further business. In the case of a private limited company, shares can be allotted to the public without receiving the minimum subscription.

Name– It is mandatory for all private companies to use the word private limited after its name

Procedure to register Private Limited Company

Once a name for the company is decided, the following steps have to be taken by the applicant: 

Step 1: Apply for DSC (Digital Signature Certificate) and DIN (Director Identification Number)

Step 2: Apply for the name availability

Step 3: File the MOA and AOA to register the private limited company

Step 4: Apply for the PAN and TAN of the company

Step 5: Certificate of incorporation will be issued by RoC with PAN and TAN

Step 6: Open a current bank account on the company name

Requirements for Private Limited Company Registration

The requirements for private limited company registration are:

Members in Private Limited Company

Members- A minimum number of two and a maximum number of 200 members or shareholders are required as per the companies’ act 2013 before registration of the company.

 Directors in Private Limited Company

Directors- A minimum number of two directors is required for registering the private limited company. Each of the directors should have DIN i.e. director identification number which is given by the ministry of corporate affairs. One of the directors must be a resident of India which means he/she should have stayed in India for not less than 182 days in a previous calendar year.

Name: Private Limited Company

Name- It is one of the major components of a private limited company. The name of the company contains three parts i.e. the name, the activity, and private limited company. It is necessary for all private companies to use the word private limited company at the end of its company name. Every company has to send 5-6 names for approval to the registrar of the company and all the names should be unique and expressive. The name for approval should not resemble with any other companies name. So choosing the right company name is an important component is it will stay with the company throughout its life.

Registered office address

Registered office address- While going for the registration of the company, the owner should provide the temporary address of the company until it does not get registered. However when the company has been registered then the permanent address of its registered office should be suited with the registrar of the company. The Registered office of the company is where the company’s main affairs are been conducted and where all the documents are placed.

DSC: Private Limited Company

Obtaining a digital signature certificate- In today’s modern world everything is done online. All documents are submitted electronically and for that, every company must obtain a digital signature certificate which is used to verify the authenticity of the documents. A digital signature is obtained by all the directors which is marked on all the documents by every director.

professional certificate: Private Limited Company

Professional certification- In a company there are many professionals which have required for many purposes. Incorporating a private limited company certification by these professionals is necessary. Various professionals such as company secretaries, chartered accountants, cost accountants, etc are required to make their certification at the time of company incorporation.

Advantages of Private Limited Companies

Ownership: Private Limited Company

OWNERSHIP

In a public company, regulation and ownership of shares can be sold to the public on an open market. On the other hand, in a private company, shares can be sold or transferred to other people by the choice of the owner. Shares of such companies are owned by founders, management, or a group of private investors. Shares here are not sold in the open market. Thus there will be fewer shareholders. This means less complexity and confusion in decision-making and management.

Minimum number of shareholders

MINIMUM NUMBER OF SHAREHOLDERS

For a private company, a minimum number of required shareholders is 2, whereas, for a public company, you require a minimum of 7 shareholders.

Legal Formalities: Private Limited Company

LEGAL FORMALITIES

Legal formalities are sometimes very expensive and time-consuming, aren’t they? If you’re planning to start a public company, you better be prepared because there is a long list of legal formalities for forming a public company. Private companies have a comparatively shorter list.

Disclosing information 

DISCLOSING INFORMATION

A public company is required to disclose its financial reports to the public every quarter, as it will affect public investment; private companies are not subjected to any such compulsion.

management and decision making

MANAGEMENT AND DECISION MAKING

Management and decision-making become more complex and confusing in public companies as more shareholders are to be consulted. This complex procedure is eliminated in a private company as the number of shareholders is less.

focus of management

FOCUS OF MANAGEMENT

Managers of Public companies are focused on increasing the value of shares, whereas managers of a private companies are more flexible in the short term and long term business decisions.

stock market pressure

STOCK MARKET PRESSURE

Private companies are not pressurized by the stock market and you don’t have to worry about shareholder expectations and interference as long as they work within the law. Shareholders in public companies are focused on current earnings and they exert pressure on the company to increase earnings.

long term planning

LONG TERM PLANNING

Managers of public companies are pressurized to increase earnings in the short term in order to increase the value of their stock. Private companies can focus on long-term earnings as such pressure is eliminated.

MINIMUM SHARE CAPITAL

You will be needing a lot of money for a public company. A public company requires a minimum share capital of Rs. 5,00,000. For a private company, the earlier minimum number of the share capital was Rs. 1,00,000, but now there is no such minimum compulsion. Therefore there is no pressure on fund requirements.

confidential

CONFIDENTIAL

It is obviously not appropriate, for competitors to know about your business secrets. Confidential information such as executive compensation, legal settlements, and other essential information cannot be kept reserved in public companies. Such information is more secure in a private company.

Documents required

Share capital amount and proposed ratio for holding shares.

A short description of the company and the business.

Name of the city where the registered office of the company is located.

Ownership and sale deed (In case your own premise).

Identity proof of the Directors and Shareholders (PAN Card).

Address proof of the registered office (Electricity bill, telephone bill, etc.)

Address proof of the Director or the Shareholder (Voter ID, Passport, Driving license, etc.)

A duplicate copy of the latest electricity bill, telephone bill, or mobile bill for directors.

Occupation details of directors as well as shareholders.

Email address of the directors and shareholders.

Contact details of directors and shareholders.

Passport size photo of directors and shareholders.

In case the property is on rent then you need to submit a copy of the rent agreement with No Objection Certificate (NOC) from the landlord.

Affidavits for non- acceptance.

NOC for a change in the original subscribers of MOA.

MoA and the AoA subscriber sheets.

PAN Card of the company.

In case you are a foreign national subscriber then you need to provide Nationality proof.

Therefore, a Private Limited Company is less complicated compared to a Public company. It is comparatively less expensive and less time-consuming.

 

one person company vs sole proprietorship

"A one-person company is a type of sole proprietorship or entity. The name comes from the fact that it is headed and managed by one person whereas a sole proprietorship can also be managed by more than one person."

The SCARS (Sole Proprietors And Retirement Savings) Act was introduced in 2004. It was designed to provide protections for alternate retirement savings vehicles such as SIMPLE IRAs, Simple Plans, SEP IRAs, and Keogh for small businesses.

Sole proprietorships can opt for this retirement plan instead of individual 401k plans for their employees or they can offer an IRA to any non-owner employees. Furthermore, sole proprietorships may offer employees the option to do self-directed investing through their business retirement account, which might not be an option with a solo 401k plan.

A sole proprietorship may choose to offer all its employees a SIMPLE IRA or SEP-IRA instead of a 401k.

The Solo 401k Plan vs Traditional 401k Plan

"A solo 401k plan is a plan that allows one person to be the only participant. The plan allows the employee to manage the money and decide where to invest the funds. Unlike a traditional 401k plan, the solo 401k plan is not regulated by the government. A traditional 401k plan allows multiple participants to manage the funds."

A traditional 401k plan allows the employees to contribute up to $17,500 in 2019. A solo 401k plan may allow an employee to contribute up to $50,000 or $100,000 per

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Conversion: A One Person Company must convert itself into a private or public limited company the moment it has an average turnover of over Rs. 2 crores for three years or a paid-up share capital of over Rs. 50 lakh. A sole proprietorship, on the other hand, may remain one no matter what its revenues are.

Compliance: A One Person Company has to file Annual Returns and meet other compliances of a Private Limited Company and would also have to get its accounts audited in the same manner. On the other hand, a sole proprietorship will only need to get its accounts audited under the provisions of Section 44 AB of the Income Tax Act, i.e., in the event that its turnover crosses the specified threshold.

Succession: For the purposes of succession, an OPC needs to have a nominee designated by its member. The nominee should also be a natural-born citizen and resident of India. The nominee shall, in the event of the death of the member, become a member of the company and shall be responsible for the running of the company. In the case of a sole proprietorship, however, succession can only take place through execution of the Last Testament and Will, which may or may not be challenged in a court of Law.

Advantages of One Person Company

 Advantages of One Person Company 

The OPC goes with all of the upsides of a private confined association with an extra advantage that just one section can enlist an OPC with this benefit one can see the value in better control and the leading group of the association. An OPC enjoys the going with benefits: 

• The privately-owned business gets the corporate conspicuous evidence extending the unselfishness of the business. 
• The sole part takes the decision thusly he can keep up with his business in his own particular way 
• the confined danger of the part 
• With the corporate character, the OPC can benefit better credit workplaces from various banks 
• There are various relaxations given by the associations act 2013 and fewer legal complexities 
• If there should arise an occurrence of death or disappointment of the part the business can be won by the anointed one of the part. This gets the wearisome movement component of the associations. 

ONE PERSON COMPANY 

The possibility of a One Person Company or OPC was obtained the year 2013 with the introduction of the Companies Act, 2013 dropping the old Companies Act 1956. Earlier there was no such thought. . Region 2(62) of the Companies Act, 2013 describes the One Person Company as follows 

"One Person Company" implies an association that has recently a solitary person as a section; 

The introduction of OPC was moderate and it opened new opportunities for the business visionaries, as of now they can participate in the front of an association for their business. A one-individual association or OPC is a sub-order of a private confined association. The exclusive business needs no less than 2 individuals as people or allies for joining however an OPC can be intertwined with only 1 section. The OPC is guaranteed and supervised by a single person. The Sole part can in like manner be the top of the Company. Simply a particular individual can divert into the sole person from the OPC, not under any condition like a private or public association where Companies or LLP can moreover transform into a section 

One Person Private Limited Company

 ONE PERSON COMPANY 

The idea of One Person Company or OPC was acquired the year 2013 with the presentation of the Companies Act, 2013 canceling the old Companies Act 1956. Prior there was no such idea. . Area 2(62) of the Companies Act, 2013 characterizes the One Person Company as follows 

"One Person Company" signifies an organization that has just a single individual as a part; 

The presentation of OPC was progressive and it opened new freedoms for the entrepreneurs, presently they can partake in the cover of an organization for their business. A one-individual organization or OPC is a sub-classification of a private restricted organization. The privately-owned business needs at least 2 people as individuals or supporters for joining though an OPC can be fused with just 1 part. The OPC is claimed and overseen by a solitary individual. The Sole part can likewise be the head of the Company. Just a distinctive individual can turn into the sole individual from the OPC, not at all like a private or public organization where Companies or LLP can likewise turn into a part 

Benefits of One Person Company 

The OPC accompanies every one of the advantages of a private restricted organization with an additional benefit that only one part can enroll an OPC with this advantage one can appreciate better control and the board of the organization. An OPC has the accompanying advantages: 

• The private company gets the corporate recognizable proof expanding the altruism of the business. 
• The sole part takes the choice in this manner he can maintain his business in his own specific manner 
• Restricted risk of the part 
• With the corporate personality, the OPC can profit better from credit offices from different banks 
• There are different relaxations given by the organization's act 2013 and less lawful intricacies 
• In case of death or failure of the part the business can be prevailed by the chosen one of the part. This secures the interminable progression element of the organizations. 

One Person Company (OPC) Registration Process 

A-One Person Company can be framed with just two people as individuals and the chiefs. The course of enlistment of a one-individual organization is extremely basic and totally on the web. The individual craving to enroll in his organization can get his organization enlisted through the Ministry of Corporate Affairs entryway. That is www.mca.gov.in. An organization is should have been enrolled with the enlistment center of organizations or ROC. RoC keeps every one of the records in regards to every one of the organizations in India. 

How to enroll online One Person Company? 

There are sure prerequisites for enrolling in an organization. These are: 

Computerized marks or DSC of the relative multitude of endorsers and DIN of the individual wanting to be the heads of the organization. Every one of the structures which are documented on the mca gateway requires Digital marks of the signatories 

Subsequent to getting the DSC the structure Spice+ is filled on the entryway with the necessary records as connections. 

Reports needed for enlisting an OPC Company 

• For ID verification 
• Aadhar Card 
• Container card, 
• Visa 
• For Address verification 
• Most recent 2 months Utility bills like Electricity Bill, 
• Water Bill 
• Bank explanations of the supporters 
• Address confirmation of organization enrolled Office - 
• Most recent 2 Months Electricity or water bill and in the event that the speed is leased then Rent Agreement, NOC from the proprietor

One Person Company Registration

 

One Person Company Registration in India: How to Register and What You Need to Know

One Person Company is a type of company in which only one person is the shareholder of the company. AOPC is India's most popular business entity. It is an ideal company in which a sole entrepreneur or a single partner can start a business with minimum initial capital. One Person Company Registration in India is the simplest form of business structure that can be set up by a single person in India. One Person Company is an Indian legal company that has only one director and shareholders. It is one of the fastest ways to start a business in India. One Person Company Registration in India is a popular form of business structure in India. If you are a freelancer or a startup entrepreneur, then OPC is a good option for you. Here is all you need to know about OPC in India.

What is a One-Person Company?

One Person Company is a company in which one person is the sole director and the sole shareholder. All other directors and shareholders, who are Indian citizens and residents, are regarded as shareholders. There are only two directors and they are the Managing Director and the Joint Managing Director. These two directors of OPC are only responsible for the legal and financial operations of the company. When the Managing Director's term is over, he is replaced by the next person on the list.

Forming One Person Company in India

The process of forming a one-person company is simple and easy in India. It is required to fill a Demand Draft form. This form is equivalent to a bank draft and is submitted to the bank. Then the bank gives you an amount for setting up the company.

Advantages of One Person Company

One Person Company has many advantages over a regular company or even a sole proprietorship. The first and foremost benefit of an OPC is that it gives the freedom to the owners to run their business as they please without the problems of bureaucracy and union as well as troubles from other companies. This helps in controlling the costs as well. One of the biggest advantages of an OPC is that it allows the owner to work for himself rather than working for others. If the business is working right and efficiently then this structure of OPC does not require the owner to regularly interact with other shareholders or bosses.

How to set up a one-person company in India

A single person can easily set up a one-person company in India. There are two different forms of One-Person Company Registration (OPC) that you can follow. You can choose a lump sum or a monthly subscription fee for monthly incorporation, which will cost you Rs. 4,000 to Rs. 20,000 plus GST. A lot of individuals prefer lump sum registration for just their startup or as an experiment. A monthly membership fee is a good option for companies or startups who are planning to expand their business activities. Here, a lump sum registration fee would be around Rs. 40,000 plus GST. As per my personal experience, lump-sum registration is the ideal option for startups with very small and low-scale business activities.

Why choose Asset less One Person Company?

One Person companies in India are popular among freelancers and startup entrepreneurs. One Person Company Registration in India is a simple form of business structure in India. If you are a freelancer or a startup entrepreneur, then OPC is a good option for you. One Person Company Registration in India is a popular form of business structure in India. If you are a freelancer or a startup entrepreneur, then OPC is a good option for you.

OPC is a popular form of business structure in India because it allows you to work independently. This way, you can generate your income without involving yourself with office works and other related expenses. If you own a property that is worth at least Rs. 100 Crores or at least 25000 INR with at least Rs.

Conclusion

Do you have any other questions regarding One Person Company Registration in India? Let us know in the comment section. Do not forget to share the answer. Do also recommend your friends if you found this article useful. Also, check our website to know about other necessary information. We have very interesting and valuable content for your information.

Thank you for visiting our website. Please share the news with your family and friends. They will surely appreciate the fact.

Private Limited Company Registration Process

 

How To Register A Private Limited Company In Delhi?

Private limited company registration in Delhi is a necessary step to form a private limited company. This article will provide you best information about private limited company registration in Delhi. In this article, you will learn how to register a private limited company in Delhi/NCR. We will also talk about the company formation charges, company registration procedure, and company incorporation procedure. To register a private limited company in India, you need to have a registered office address, a company name, a company secretary, a company logo, and a company motto. A private limited company is a business entity with limited liability. The word 'private' should not be confused with 'not-for-profit'. A limited company can make profits, pay dividends, and distribute profits to shareholders.

Why Form A Private Limited Company

From providing services to owning companies, a company has several uses in the business world. You can set up a company by forming a private limited company. With a private limited company, you can own a small company or an individual company. Thus, forming a private limited company allows you to own and run businesses that you need to set up in the business world. Thus, companies provide different services for people. They provide various services for the owners of companies. For example, a company would provide the land, roads, and various other facilities to the company employees.

Private Limited Company Registration in India

The company formation procedure is essential in case you want to own a private company.

How To Form A Private Limited Company

If you are running a business without a registered office address, then you will not be able to register a company with the Registrar of Companies.

Registration Procedure

Most of the companies need to get registered in the corporate affairs ministry with the exception of charitable organizations. There are three ways to register a private limited company. The first way is to become a non-resident company by registration of a provisional certificate. In this way, a company can be formed outside India. The company can be formed with or without resident directors. This is called a "proxy company". After registration, the company will have to go for a shareholders' meeting.

The second way is registration of the company after getting permission from the Ministry of Corporate Affairs. You will need to have a physical presence in the country. You will have to submit a certificate that your company has obtained the necessary legal status by paying fees for registration.

Company Formation Charges

The company formation charge is a flat fee that the registered office of the company needs to pay for registering itself. The charge is given as part of the registration process. The total of all the fees mentioned below needs to be paid.

Registering a private limited company in Delhi costs you only one percent of the capital amount.

Company incorporation charges

These are optional fees. You can pay these charges separately or in a single sum. These charges need to be paid separately or in a single sum. These charges need to be paid separately or in a single sum.

Incorporation fees

These fees are non-refundable. However, you can claim these charges back if you fail to file an application within the period specified in the annual returns.

Conclusion

Private Limited Company Registration in Delhi is the procedure through which a company is registered in India. In this procedure, you need to fulfill all the registration requirements like company name, address, place of registration, directors and address, password and email for registration, salary, identity, PAN, credit card details, bank account, the registered business entity, directors, address, password and email for email contact, bank account details and a company logo. You need to have your registered office address and there are two types of registered office addresses in Delhi. One of them is Delhi domiciled registered office address and the other is Delhi-catering registered office address.