I wanted to share these thoughts with you based on my personal experience: Importing of electronic items into India has a wide range of import duties. Many times, the profitability of importing from China/Taiwan/Hong Kong is competely removed because of the import duties in India. Therefore I request you to study import duties carefully. If you can assemble electronic products in India using imported components, then it has lesser import duties. You will also need a strong logistics partner who can successfully clear customs and deliver products to your India warehouse.
Category Archives: Legal
Important Message From Ministry of Corporate Affairs India Regarding Easy Exit Scheme 2011
Ministry of Corporate Affairs India had introduced a Scheme namely, “Easy Exit Scheme, 2011” under Section 560 of the Companies Act, 1956 to give an opportunity to the defunct companies, for getting their names struck off from the Register of Companies. The said scheme was in operation from 1st January, 2011 to 31st January, 2011. Now, it has been decided to extend the Scheme for another three months i.e. upto 30th April, 2011. For details, refer to General Circulars No: 6/2010 dated 03.12.2010 and 1/2011 dated 03.02.2011.
After the closure of the Scheme, MCA would take penal action against the directors of the defaulting companies who have not taken steps for de-registration of the company.
Company Law India: Declaration of Dividend out of Reserves
Investors of profitable companies expect dividends at least once every year, and many investor friendly companies have a track record of giving dividends every year from the annual/quarterly profits. But what happens if business climate is bad and the company is unable to make profits in a year and is unable to pay dividends to shareholders? Can the company pay dividend from its Reserves? Yes.
Following is the relevant rule from Company Law India, about Declaration of Dividend out of Reserves.
Reference: [GSR No. 427(E), dated July 24, 1975] Continue reading Company Law India: Declaration of Dividend out of Reserves
Hindi is not Our National Language?
Gujarat High court, after listening to a petition that packaged commodities must contain details about goods in Hindi, has refused to do so. Chief Justice S J Mukhopadhaya, told that there is no National Language for the country, Hindi and English only being the official language and not the national language.
Our View: This question arises only in the case of multilingual nations like India. There is a difference between official language and national language. Continue reading Hindi is not Our National Language?
Prison Reforms together with release of Prisoners languished in untrials on card
Law ministry, Veerappa Moily, has planned to set a deadline of 6 months to release all the under trial prisoners from the jails. All those who have been languishing in jains for petty offences
or those who have already under gone maximum or major portion of punishment without conviction by July 31st would be released. He has chalked out a plan, under which the country has been divided in zones and there are many other measures for faster closure of the cases.
Continue reading Prison Reforms together with release of Prisoners languished in untrials on card