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Divorce by Mutual Consent

PROCEDURE FOR MUTUAL CONSENT DIVORCE

Mutual Consent Divorce was brought by the India Parliament vide Amendment in the year 1976 in the Hindu Marriage Act.
As per law, duration/time of obtaining mutual consent divorce is six months. Although, parties have option of filing the second motion petition any time between six months and eighteen months from the date of the filing of the Mutual Consent Divorce Petition.
As a mutual consent divorce lawyers, we “VED LEGAL” provide platform to parties to discuss these issues in calm atmosphere and reach to their own solutions. We provide different options using our vast experience in the field to resolve issues affecting the chances of settlement.

Petition for mutual consent divorce can be filed at any of the following place:-

• Place where marriage had taken place
• Place where husband and wife last resided together.
• Place where wife is residing at the time of filing of the Petition

Once petition for divorce by mutual consent is filed, parties presence are required in the Court for recording of the statement. In the event one of the party is unable to come, such party can appear through power of attorney. Such power of attorney preferably should be a family member of the spouse. Once statement is recorded, it is commonly called First Motion has been granted.

After passing of first motion, parties are called upon to wait for six months period before moving Petition for second motion. This period is extendible unto eighteen months. This six months period in mutual consent divorce is generally called cooling-off period. Six months period are given to parties to think over their relationship again. It is given for reconciliation.

After six months period, if parties have been unable to resolve their differences, they will have to appear in the Court again. Statement of parties would be recorded again.

During the period of six months i.e. before moving second motion, both parties have liberty to withdraw their consent for divorce.
After this Court passes an order dissolving the marriage by granting decree of divorce and thereby marriage stands dissolved.

*DIVORCE LAWS

vary from religion to religion in a country with a rich cultural diversity like India. Hindus(which includes Sikh, Jain, Budh) are governed by Hindu Marriage Act,1955. Christians are governed by Indian Divorce Act-1869 & The Indian Christian Marriage Act,1872. Muslims are governed by Personnel laws of Divorce and also the Dissolution of Marriage Act,1939 & The Muslim Women(Protection of Rights on Divorce) Act,1986. Similarly, Parsis are governed by The Parsi Marriage & Divorce Act-1936. And there is also a secular law called Special Marriage Act,1954. A cursory reading of the entire gamut of Indian Laws regarding Divorce makes it clear broadly that the Divorce can be obtained by two ways:

1. Divorce by Mutual Consent

Mutual Consent Divorce is a simple way of coming out of the marriage and dissolves it legally. An important requirement is the mutual consent of the husband & wife. There are two aspects on which Husband & Wife are required to reach a consensus. One is the alimony or maintenance issues. As per Law, there is no minimum or maximum limit of maintenance. It could be any figure or no figure. Next important consideration is the Child Custody. This can also be worked out effectively between the parties. Child Custody in Mutual Consent Divorce can be shared or joint or exclusive depending upon the understanding of the spouses. Duration of Divorce in Mutual Consent varies from one month to six months or more from States to States and as per the High Court directions.

2. Contested Divorce

As the name suggests, you will have to contest it. Indian laws, in general, recognizes cruelty (Physical & Mental), Desertion (Period varies from 2 to 3 years), Unsoundness of mind( of Incurable form), Impotency, renouncing the world, etc. The aggrieved party has to take one of the above grounds for divorce and will have to file the case in the Court of appropriate jurisdiction. Party which files the case has to prove the case with the support of evidence and documents. On successfully proving the case, divorce will be granted and divorce decree will be drawn up accordingly.

ANNULMENT OF MARRIAGE:

Marriage in India can also be dissolved by means of Annulment. Procedure for annulment is same as that of Divorce except that the grounds for annulment are different than that of divorce. Grounds for annulment are fraud, pregnancy of wife by a person other than the husband, impotency prior to the marriage and subsist even at the time of filing the case. Once an annulment is granted by the Indian Court, the status of the parties remains as it was prior to the marriage.

VOID MARRIAGE:

There are certain forms of marriages which are null and void despite the performance /solemnization of the same. Marriage is void under following circumstances:-

a) neither party has a spouse living at the time of the marriage

b) the parties are not within the degrees of prohibited relationship, unless the custom or usage governing each of them permits of a marriage between the two;

c) the parties are not sapindas of each other unless the custom or usage governing each of them permits of a marriage between the two.

The time duration for obtaining divorce varies from case to case & place to place. Generally speaking, contested divorce proceedings take approximately 18 to 24 months. Mutual Consent Divorce varies from 4 weeks to 7 months and more. In Delhi, Mutual Consent Divorce is possible within two to four weeks. Generally speaking procedure for obtaining Divorce in all forms of law (based on religion) is same with only a mild variation.
For More information please contact us:

Consultants for Housing Co-operative Society in Pune
Ved Legal
Email: [email protected] / [email protected]
Mobile: +91 9763040088

*DIVORCE BY MUTUAL CONSENT

Mutual Consent Divorce was brought by the India Parliament vide Amendment in the year 1976 in the Hindu Marriage Act.
Divorce by Mutual Consent means when both Husband and wife has agreed amicably amongst themselves that they cannot live together anymore and that the best solution is to Divorce, without putting forth any allegations against each other, in the court of law, than such a Divorce petition presented jointly before the honorably court, is known as mutual consent Divorce.

It is the quickest form of divorce in India. The Conditions required under Section 13B of the Hindu Marriage Act are as follows:
(i) Husband and wife have been living separately for a period of one year or more,
(ii) That they are unable to live together,
(iii) And that both husband and wife have mutually agreed that the marriage has totally collapsed, hence marriage should be dissolved.

As per law, duration/time of obtaining mutual consent divorce is six months. Although, parties have option of filing the second motion petition any time between six months and eighteen months from the date of the filing of the Mutual Consent Divorce Petition.

PETITION FOR MUTUAL CONSENT DIVORCE CAN BE FILED AT ANY OF THE FOLLOWING PLACE:-
• Place where marriage had taken place
• Place where husband and wife last resided together.
• Place where wife is residing at the time of filing of the Petition

Once petition for divorce by mutual consent is filed, party’s presences are required in the Court for recording of the statement. In the event one of the party is unable to come, such party can appear through power of attorney. Such power of attorney preferably should be a family member of the spouse. Once statement is recorded, it is commonly called First Motion has been granted.

After passing of first motion, parties are called upon to wait for six months period before moving Petition for second motion. This period is extendible unto eighteen months. This six months period in mutual consent divorce is generally called cooling-off period. Six months period are given to parties to think their relationship again. It is given for reconciliation.

After six months period, if parties have been unable to resolve their differences, they will have to appear in the Court again. Statement of parties would be recorded again.

During the period of six months i.e. before moving second motion, both parties have liberty to withdraw their consent for divorce.
After this Court passes an order dissolving the marriage by granting decree of divorce and thereby marriage stands dissolved.

ADVANTAGES OF MUTUAL DIVORCE
Divorce by Mutual consent saves time, money and energy for both, Leaves no room for unnecessary quarrel.

By |September 8th, 2017|Uncategorized|Comments Off on Divorce by Mutual Consent
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Advocates for Society Formation in Pune

*BUILDER’S HANDOVER PROCESS:-

The date of handover from builder to the registered owners association is an important day for new apartment owners and all residents. It has to be taken seriously and detailed due diligence must be done when interacting with the builders during this handover process. Once the formal handover to the Owners Association is completed, the onus is on the association to run the affairs of the society and to ensure its smooth functioning. The association must be prepared for this day for 3+ months leading to this event.

It is recommended that owners collaboratively engage with the builder right from late construction stages that will help them to take-up this responsibility in future. The builders can also reach out to representatives from the owners group to assist in the selection of maintenance agency which prepares them for the handover process.
Based on our experience in interacting with various builders and associations, we have collated a check list that associations can use when in dialogue with the builder on the handover process:

1. Get approved building plan which includes block-wise and floor-wise details
2. Collect the Completion Certificate which ensures adherence of the approved plan
3. No Objection certificates from pollution, fire, water and electricity authorities
4. Hard copy and soft copy (in CD) of all approved engineering drawings; look for approval seal on the drawings
5. Registration and parent documents
6. Drainage, sewage, Fire protection and common area power layout drawings
7. Car parking layout drawings (with numbering)
8. Asset Inventory of all movable and immovable equipment purchased; numbered in order (list needs to be exhaustive)
9. Record of recent service history on key equipment’s like lifts, DG sets, STP and WTP
10.AMC and warranty details; Original bills of equipment purchased (motors, Sewage and Water Treatment Plant, Generators, Gym items like treadmill)
11.Lift license details and next renewal date
12.STP/WTP vendor details, plant layout, operation manual and drawings
13.Receipts of property, electricity and water payments paid
14.Handover of corpus amount to the association
15.Share recent expenses incurred on various maintenance activities and account heads; will assist to budget coming year (staff salaries, purchase of cleaning material, swimming pool maintenance etc)
16.Contract signed with maintenance agency; agreed SLAs
17.Insurance taken for assets and third party lift insurance
18.Audited account statement at the time of handover
19. Arrange for introductory meeting with important suppliers and vendors

By |September 4th, 2017|Uncategorized|Comments Off on Advocates for Society Formation in Pune
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Lawyers for Company Registration

Company Registration Process

There are 5 types of companies that can be registered in India
• Sole Proprietorship Firm
• Partnership Firm
• One Person Company
• Limited Liability Partnership
• Private Limited Company

1. Sole Proprietorship Firm
A sole proprietorship business is where a single individual runs the business. There is no separation between the legal identities of the business and the businessman. In other words, business debts are the businessman’s own debts. His liability is unlimited and he is personally responsible to bear all losses of the business.

 Following are some essential features of a sole-proprietorship:
• Easy to form
• One person ownership
• Unlimited liability
• No separation between business and business owner
• Freedom of decision making
• Secrecy.
• Tax benefits.
• Business exists as long as the owner does.

 Registration of Sole Proprietorship Firm

There is no formal process for registering a Sole-proprietorship in India. Therefore, the existence of a sole proprietorship business can be established only through opening a bank account in the name of the proprietorship firm or obtaining licenses required for conducting the business under various other acts such as:
• Shops and Establishments, for the premises.
• FSSAI License Food License, if you are thinking to start food truck, restaurants, food joints, food item or consumable item packaging, food item or cosumable item delivery etc.
• GST Registration It is a mandatory for all Business or Professional entities with turnover exceeding INR 20 lakhs are required to obtain Goods & Services Tax (GST) registration compliance
• Trade License, issued by the municipal corporation of a city, allows a business owner to carry on an activity or manufacture or exchange of any commodity.
• Import Export Code (IEC), if you want to import or export.

However, please note that you don’t need to register under all these acts. The kind of registration will depend upon a) type of your business b) expected annual turnover and c) location.
2. Partnership Firm
A partnership firm is a business structure in which two or more individuals manage and operate a business in accordance with the terms and objectives set out in a Partnership Deed. All the partners have unlimited liability, which means they are personally liable for the debts of the business.
 Following are some essential features of a Partnership:
• Aim is to share profits and not losses.
• Losses, if any, will be borne by partners in their profit sharing ratio.
• Only persons who are competent to contract# can form a partnership.
• A minor cannot be a partner in a partnership. But, he is allowed to share the profits from a partnership
business.
• No partner is allowed to transfer his share in partnership to any other person without the consent of all
the other partners.
• There is a presumption of utmost good faith between partners.
• Every partner contributes to the business in some form or the other. It may be in the form of time, money,
skills and/or goodwill.

 Registration of Partnership Firm:
A partnership firm can be registered whether at the time of its formation or even subsequently. You need
to file an application with the Registrar of Firms of the area in which your business is located.
 Ensure that the following documents and prescribed fees are enclosed with the registration application :
• Application for Registration in the prescribed Form – I
• Duly filled Specimen of Affidavit
• Certified copy of the Partnership deed
• Proof of ownership of the place of business or the rental/lease agreement.

 Application for partnership registration should include the following information:
• Name of your firm
• Name of the place where business is carried on
• Names of any other place where business is carried on
• Date of partners joining the firm
• Full name and permanent address of partners.
• Duration of the firm
• Every partner needs to verify and sign the application

Once the Registrar of Firms is satisfied that the application procedure has been duly complied with, he shall record an entry of the statement in the Register of Firms and issue a Certificate of Registration.

3. One Person Company
The concept of One Person Company (OPC) was introduced by the Companies Act of 2013. It is a cross or hybrid between the sole proprietorship and company forms of business and combines the best features of both. As the name suggests, it allows a single individual to form a company. It combines the freedom of a sole proprietorship business with the limited liability and various other benefits that come with operating as a company.

 Following are some essential features of a One Person Company:
• Any natural person can form a company. i.e. an individual
• The person must be an Indian citizen or a person who is resident in India
• Such person will be the shareholder and member of the company. No other shareholder is required.
• Such shareholder must nominate a person to act as his nominee to act as the shareholder/member in the event of his/her death incapacity.
• Consent must be obtained from a person before designating him/her as the nominee.
• An OPC must have a minimum of one director.
• The person forming the company may also act as the director.
• Such company can only be incorporated as a private company.
• It may be a company limited by shares, by guarantee, or an unlimited company.
• Minimum capital requirements are the same as applicable to a private company i.e. INR One (1) Lakh.

4. Limited Liability Partnership
An LLP is a unique mode of doing business which offers a combination of the flexibility of a partnership and limited liability of a company. It is governed by the Limited Liability Partnership Act, 2008. An LLP is the most preferred route taken by startups to incorporate their business.
 Following are some essential features of a LLP:
• It is a corporate body.
• It is a legal person separate from its partners.
• All the partners have limited liability.
• It provides perpetual succession to the business.
• Requires at least two partners and at least two individuals as designated partners.
• At least one designated partner must be a resident of India.
• Winding up may be voluntary or may be initiated by a tribunal/High Court.
• The Indian Partnership Act does not apply to an LLP.
• The Central Government is allowed to apply provisions of Companies Act to an LLP.

5. Private Limited Company
Generically defined, a private company would be an association of persons who share a common purpose and pool their resources in order to achieve that purpose.
As per The Companies Act, 2013, a minimum of two persons can form a private company.

 Following are some essential features of a Private Limited Company:

• Huge capital
• Raise capital from angel investors, venture funds etc.
• Maximum number of members is 200 for private company.
• Limited Liability of all the members.
• Separate Legal Entity
• The memorandum must state the word ‘private limited’ with the name of the company.
• Minimum number of directors is 2 for a private company.
• Right to transfer shares is restricted in the case of a private company.
• The minimum capital requirement of INR 1 lakh for private companies
• Use of common seal is optional.

 Private Limited Company – The most successful business type.
In a private company, the business owners hold all shares of the company privately. Shareholders may operate the business themselves, or hire directors to manage the company on their behalf. Registering a private limited company results in protection of personal assets, access to more resources, financial assistance and greater credibility.

 Limited Liability Partnership (LLP) – A corporate form of Partnership
It exhibits elements of both partnership and corporation. In LLP, one partner is not responsible or liable for another partner’s misconduct or negligence unlike a traditional partnership in which each partner has joint and several liability.

All these three forms of business have the feature if Limited Liability and Separate Legal Entity, ie, the members or partners have no personal liability. Yet, they are different from each other in various aspects.

 One Person Company (OPC) – A corporate form of Proprietorship.
One Person Company (OPC) has been recently introduced in India to promote business enterprises that are owned and managed by a single Entrepreneur. OPC allows for a single individual to own and manage the business. One Person Company is therefore a viable option for those looking to start an unregistered Proprietorship.

 Documents required for Private Limited Company Registration
For Directors/Shareholders
• One Photograph.
• Copy of PAN Card.
• Copy of Address proof – Aadhaar Card/Driving License/Passport/Voter ID.
• Copy of Bank Statement/Mobile Phone/Landline Telephone Bill.
• Copy of Aadhaar Card.

For Company Address
• Proof of Registered Address – Sale Deed/Rental Agreement
• Copy of Utility bill – Electricity/Landline telephone/Gas Bill – not older than two months.
• No Objection Certificate for use of premises, if required

It usually takes 15-20 days to Register a Private Limited Company through SPICe INC-32 (A single application for Reservation of Name, Incorporation of Company and Allotment of DIN), subject to ROC processing time.
These are four major steps:
• Acquiring Digital Signature Certificate(DSC)
• Acquiring Director Identification Number(DIN)
• Filing an eForm or New user registration
• Incorporate the company

It’s necessary to get registered yourself to run your business without any legal problem. India is a land of opportunity, no matter in which field your business is operating the chances of getting success is very high, so it just needs a start. starting an entrepreneurship in India would fetch you great success. fallow this post sincerely till you incorporate your final claim for your company. We assure one will end up in getting their business registered after following this procedure.
Private company may have two directors, but a public company must have at least three directors.

 Lets start the registration procedure: 4 Steps
Step 1: Acquire Director Identification Number (DIN)
This is the first process in registration that each director of the company should obtain their identification number. As per the amendment act 2006, acquiring a DIN is compulsory for every director i.e. as such every existing and intending directors have to obtain their DIN. To get DIN one need to file a eForm DIN-1. The DIN-1 form is available on Official site of the ministry of corporate affairs the link is DIN-1 Form.

• Register yourself on MCA Website first and have a login id. After filling DIN-1 Form, one should upload
the filled form by clicking to eForm upload button on MCA website and should pay applicable fees.
• After getting generated DIN one should intimate their company about DIN. The director can intimate their
company about DIN by using DIN-2 Form.
• Then company should intimate the Registrar of Corporates(ROC) about all director’s DIN through DIN-3 Form.
• If there is any change in DIN or need for any updation like change of address, personal details etc, then
director should intimate this change by submitting the eForm DIN-4 Form.

Step 2: Acquire Digital Signature Certificate(DSC):
In order to ensure the security or authenticity of documents filed electronically the information act 200o demands a valid digital signature on the documents submitted electronically. This is the only and safest way that one can submit their documents electronically. The digital signature certificate should be acquired by only those agencies which are appointed by the controller of certification agencies (CCA). One should not use DSC given by any other agency which is not approved and it’s illegal to use others DSC as yours or the false one.

If you already have a digital signature then you can use the same, no need to apply for another. But do check for your digital signature validity, agencies issue DSC’s with one or two year validity after expiry you have to renew it.

One can acquire his/her Digital Signature certificates from these government listed agencies like TCS, IDBRT, MTNL, SAFESCRYPT, NIC, NCODE Solutions etc. to check out their price details of these Govt approved agencies, Go to this link.

Step 3: Create a account on MCA Portal – New user registration
This is about having a registered user account on MCA Portal for filing a eForm, for online fee payment, for different transactions as registered and business user. Creating an account is totally free of cost. To register yourself on the MCA portal, click on the register link.

Step 4: Apply for the company to be registered.
This is the final major step in a registration of your company which includes incorporating company name, Registering the office address or notice of situation of office and notice for appointment of company directors, manager and secretary. And also regarding the take and pay for their qualification shares.

• Form-1:Form-1A: Application form for availability or change of a company name. Once you apply for new
company name, the MCA will suggest four different form of your company name; you have to choose one among
them. To do the same you have you have to fill Form-1A and submit.Form-1: This is for application or
declaration for incorporation of a company, in this form you have to fill the same name which you have
chosen during application of form-1A.
• Form-18:This form is for notice of the situation of a new company office or change of situation of
previously registered office.For a new company you have to fill the form with genuine office address and
submit.
• Form-32:For a new company, this form is for notice for appointment of new Directors, Managers and
Secretary. For an existing company, this form is for a change of directors, Manger, Secretary or company
head.

After submitting these forms, once the application has been approved by MCA, you will receive a confirmation email regarding the application for incorporation of a new company, and the status of the form will get changed to Approved.

 Detailed procedure for approval of the proposed company name:
For obtaining name for your new company, An application in Form-1A needs to be filed with the Registrar of Companies (ROC) of the state in which the Registered Office of the proposed Company is to be situated to ascertain the availability of a name along with an official service fee of Rs.500/-.

You have to provide four alternative names for the proposed company. Your company name shall not resemble the name of any other company already registered or violate the provisions according to Act, 1950.

In this form you have to fill name and addresses of directors (minimum 2 for a private company and 7 for a public company). You have to mention main objects of the company and authorized capital.

In about 10 days, the ROC will inform you about approval or objections. If there are any objections then ROC will suggest you with some available names and let you choose among them. If your company name is approved then you will receive a formal letter regarding the confirmation of the same. Keep the same which will be required during registration process of the proposed company.

If you find any difficulty or encounter any problem while obtaining the company name then do contact us, We will help you to sort out your problem.

 Check these documents before submission of a company:
1. DIN of all those directors of a proposed company.
2. DSC – Digital Signature Certificate
3. Original copy the of formal letter issued by ROC regarding availability of Company name.
4. Form-1 for incorporation of a company.
5. Form-18 for situation or address of the proposed company.
6. Form-32 for particulars of proposed directors, managers and secretary.

 Formalities to be followed while incorporation of a company:
1. Obtain a TAN card
2. Obtain a Permanent account number (PAN) from income tax dept. India
3. If required: Documents obeying shop and establishment acts.
4. If required: For foreign trade, Registration documents of import export code from Director General of
foreign trade.
5. If required: Registration documents of Software technologies Parks of India (STPI).
6. If required: RBI approval for foreign companies investing in India and FIPB approval.
7. Both Indian and foreign directors need to have valid Digital Signature Certificates from authorized
agencies.

 Company Registration Process:

1.DSC (Digital Signature Certificate).
All Propose directors of the private limited Company should have a digital signature and digital signature will use to file the registration, ROC compliance forms, and Tax returns.

2.Director Identification No (DIN).
When a Digital signature is approved, and you will get an approval email from the Registrar of companies that you are now eligible to be a director of a company. It takes one working days to approve DIN.

3. Company Name Approval.
After a Trademark search, we will proceed to file a Name approval application to ROC on your behalf.

4.Final Incorporation & CIN.
After Name approval from the Registrar of Companies, we will file final incorporation e-form with all supporting documents like registered address proof, Declaration from directors. Registrar of companies takes 3 working days to complete the approval process of a company.

 Documents Required

From All Directors And Shareholder.
• PAN Card or Passport or Election ID Card.
• Latest Bank Statement/Telephone or Mobile Bill.
• Voter’s ID/Passport/Driver’s License.
• Passport-sized photograph of all directors and shareholder.
• Scan copy of Signature (signature should same as on PAN Card).

 Registration Procedure
A private limited company is the most common form of business entity in India. It is easy to maintain and raise funds, offers limited liability to its members, offer flexibility, easy bank loan accessibility. Read Advantages of Private Limited Company. Following are the steps involved in the registration of private limited company.

Basic requirement
There must be at least 2 members in the company.
The company shall be made for legal business and must not harm the society. The company object should not be illegal.
In case, if the registrar issue the certificate of incorporation to such business entity , then certificate will be void and registration will be itself cancelled by the Central Government and appropriate proceeding will take place against the entity and the Registrar.
Read in detail Pre-Requisites for Registration of Private Limited Company
Step 1: Obtaining Director Identification Number (DIN) & Digital Signature

The First step is
1. Obtaining Director Identification Number (DIN) for the proposed Directors in the Company
2. Obtaining Digital Signature for one of the Directors of Company.

After this, application for name of Private Limited Company must be applied.

Step 2: Applying for the name
The promoters should propose one or more suitable name for the name of company as it offers the flexibility and choice to registrar to select the name in case some names are identical or similar to registered business entities or trademark.
1. The name should not be similar or identical to any registered company or trademark.
2. The name should not be one prohibited under the ‘Emblems and names Act, 1950’.
3. The name of company must have suffix “Private limited Company”.

After submission of name, registrar will review and approve one of the name .It usually takes 3 to 5 working days to approve the name for company .
Read tips for Choosing the right name for your company registration for easy approval of name by ROC.

Step 3: Filing for Incorporation of Private Limited Company
After the name approval, promoters should submit the application, prescribed fees and below said following documents to the registrar.

1. Articles of Association, if any.
2. Memorandum of Association.
3. Declaration from Directors.
4. Affidavits of the Directors.

A declaration stating that the requirements of the Act and the rules framed there under have been compiled with. This declaration is required to be signed by an advocate of the or Supreme Court or an attorney or a pleader having the right to appear before or a High Court or a Chartered Accountant in whole time practice in India who is engaged in the formation of a company, or by a person named in the Articles as a Director, Manager or Secretary of the Company.

Besides the aforementioned documents, the company must provide relevant information regarding of its registered office within 15 days of registration or during filing of incorporation documents.

Step 4: Subscribing to the Private Limited Company
As per the Companies Act 2013, a subscriber must sign their names and must be subscribed to the shares of the company incorporated. It means each subscriber must have at least one share of the company. Each subscriber should sign the memorandum in presence of at least one witness and must clearly state the following:

1. Address
2. Personal Description
3. Occupation
4. No of shares subscribed
5. Nature of shares etc.

Likewise both (Article and Memorandum of association) must be duly signed and stamped.

Step 5: Certificate of Incorporation
After filing the above-mentioned documents and payment of necessary fees, the certificate for Company incorporation would be issued by the Registrar of Companies. Upon Incorporation, the company becomes a legal person separate from its members.

The process to register a private limited is complex and time-consuming. Our team atLegalRaasta can help startups and Entrepreneurs Register Private Limited Company in 14-15 days @ 13,999/- only (inclusive of government fee) saving 40% compared to typical CA/CS.

Registering new business in India, some official procedures a company has to follow in order to register them in Indian official records, MCA (ministry of Corporate Affairs) has to made registration process online few years back.
The registration includes some must follow rules and some registration like Digital Signature Certificate (DSC), Director Identity Number (DIN), Filing an eForm or New user registration and Incorporate the company.

1. A private limited company should have a minimum capital of Rs 1 lac. The registration fee and stamp duty depends on the capital of the company and the state in which the company is registered. The company name should reflect the business objects of the company. It should be such that it does not resemble the name of any existing companies. If the proposed names resemble any existing business entity, the Registrar of companies may reject the name application.

2. Partnership firms are not a separate legal entity; hence the partners and the partnership firm are the same. However, for income tax purposes, partnership firms are treated as a separate entity and hence need to obtain PAN from the income tax dept and file income tax returns.

3. Only a natural person can form a One Person Company. A private company or an LLP can NOT start an OPC. The member should also be a resident on India.

For more details on registering Pvt ltd,Partnership,NGO,Trust,Sole Proprietorship firm contact
HG Corporates, hgcorporates.com
To Register a Startup company in India you’ll need to take help of professional & licensed company registration service providers like us.

 Procedures for Private Limited Company Registration:
Minimum Requirements for Private Limited Company Registration
• Minimum 2 Directors (The directors and shareholders can be same person)
• Minimum 2 Shareholders.
• No Minimum Capital Required.

 Documents Required For Private Limited Company Registration:
1. Colour PP Photograph.
2. PAN Card – Self Attested.
3. Identity Proof – Any One Self Attested.
(Driving License / Passport / Aadhar Card / Voter ID Card).
4. Address Proof – Any One Self Attested.
(Latest Bank Statement / Electricity Bill / Telephone Bill / Mobile bill).

Submit the documents to Licensed & Professional Company Registration service providers like HG Corporate Advisors.
Legal procedure for registering a company as Private Limited in India:

STEP 1 :Getting a Digital Signature & DIN:
In lay man’s language Digital Signature is a kind of password which authenticate the user.DIN refers to Director Identification Number; Anyone who is proposed to be a Director of the company needs to have a DIN.

STEP 2 : Name Availability Check & Application for Name Reservation/ Approval:
We will apply for Name Approval with the ROC. A maximum of 6 Names can be provided for Name approval.

STEP 3 : Drafting of Memorandum of Association (MOA) & Article of Association (AOA). , Filing & Uploading of Incorporation Forms:

• We consult with you and draft your Memorandum of Association & Article of Association for your kind
perusal so that your Company is incorporated with the best drafted Memorandum & Articles.
• Form 1 has been replaced with Form INC-7: For Application of Incorporation of Company.
• Documents Required: Memorandum of Association (To be prepared by us.
• Article of Association (To be prepared by us).
• Affidavit from Subscriber (Non Acceptance of Public Deposit – Format to be provided by us).
• Id Proof of Subscriber (/Passport/Voter Id/Aadhar/Driving License – Any ONE).
• Residential Proof of Subscriber (Latest Bank Statement/Latest Mobile Bill/Latest Telephone Bill / Latest
Electricity Bill).
• INC 9 & INC 10 as attachment in Notarized Stamp-paper (Format shall be provided by us).

STEP 4 : Company Address Form 22 for situation of Office Address

STEP 5 : DIR-12 for information regarding the Directors:
Declaration by Director (Format to be provided by us). Consent Letter by Director (Format to be provided by us)

STEP 6 : Getting Incorporation Certificate:

After Uploading the Forms, generally within 3-7 working days, a Company Incorporation Certificate is received.
Private Limited Company Registration Package Includes:

• 2-Digital Signature Certificate (DSC).
• 2-Director Identification Number (DIN).
• Company Name Approval by Ministry.
• Memorandum of Association (MoA) &
• Articles of Association (AoA).
• Registration Certificate.
• Permanent Account Number (PAN).
• Tax Account Number (TAN).

A guide on how to register Startup or new business in India with documents needed, fees breakdown and time to complete company registration.

A startup is an energy booster for the Indian economy. Whether your startup is a sole proprietorship or a partnership business, it’s better to give your business a legal existence. The reason being, a registered company, can be closed down only by legal authorities in case of any unforeseen issues. Here we look at the steps to register a start-up or a new business in India.

The Ministry of Corporate Affairs has made it convenient for the new startups by introducing the online registration. In May 2015, Ministry of Corporate Affairs introduced a five-in-one form to make the process of registration easier. The new form known as Integrated Incorporation Form INC-29 will require you to fill only one form instead of the tedious process of filling out eight forms. An advantage of the new form is that it reduces the interaction with the authorities at the various levels.

Now you can register your new business from the comfort of your home. There are four steps that you need to do follow.
 Apply for Director Identification Number(DIN)
The first and foremost process is to the registration of the company directors. You should create a login id in the Legal Raasta website.

A nominal amount of Rs 500 for DIN will be charged and normally it takes a day to get this number.
 Acquire Digital Signature Certificate (DSC)

This is important to ensure the authenticity of the documents that you file electronically. Also, understand that the digital signature certificate should be authenticated by the agencies appointed by the controller of certificate agencies.
You would have to pay a nominal amount Rs 1299/-. It will get at least four days to get the certificate.

 Approval of the company name and certificate of Incorporation
The company name will be approved by Registrar of Company (ROC). Once the name is approved by ROC apply for the Certificate of Incorporation. This is done by filling out Form 1, Form 18 and Form 32.
You would have to pay Rs 1000/- for the approval of the name and the Certificate of Incorporation, the amount can be anywhere between Rs 1000 to 4000.
The name approval will take at least two days while the certificate of incorporation will take a week.
The following documents that have to be attached to Form 1 while applying for the certificate of Incorporation.
• Signed copy of the Memorandum of Association (MOA).
• Signed copies of Articles of Association (AOA).

The power of Attorney from the various subscribers on judicial stamp paper worth Rs 100 and finally, the identification of the subscribers.
 Apply for Permanent Account Number and Tax Account Number for the registered company
The PAN card can be obtained from Income Tax Department, India by paying a nominal amount of INR 94. You can apply for the TAN card by visiting the website TIN. You will be charged INR 62.
The total time span to obtain these is seven days.
The other formalities that you can go about during this period include getting a rubber stamp of the company, registering for VAT and professional tax, employees provident fund and health insurance and so on.
 Procedures for Private Limited Company Registration:

STEP 1 :Getting a Digital Signature & DIN:
In lay man’s language Digital Signature is a kind of password which authenticate the user.DIN refers to Director Identification Number; Anyone who is proposed to be a Director of the company needs to have a DIN.

STEP 2 : Name Availability Check & Application for Name Reservation/ Approval:
HG will apply for Name Approval with the ROC. A maximum of 6 Names can be provided for Name approval.

STEP 3 : Drafting of Memorandum of Association (MOA) & Article of Association (AOA). , Filing & Uploading of Incorporation Forms:

• HG Corporate Advisors consults with you and draft your Memorandum of Association & Article of Association
for your kind perusal so that your Company is incorporated with the best drafted Memorandum & Articles.
• Form 1 has been replaced with Form INC-7: For Application of Incorporation of Company.
• Documents Required: Memorandum of Association (To be prepared by HG)
• Article of Association (To be prepared by HG)
• Affidavit from Subscriber (Non Acceptance of Public Deposit – Format to be provided by HG)
• Id Proof of Subscriber (/Passport/Voter Id/Aadhar/Driving License – Any ONE)
• Residential Proof of Subscriber (Latest Bank Statement/Latest Mobile Bill/Latest Telephone Bill / Latest
Electricity Bill)
• INC 9 & INC 10 as attachment in Notarized Stamp-paper (Format shall be provided by HG)

STEP 4 : Company Address Form 22 for situation of Office Address

STEP 5 : DIR-12 for information regarding the Directors:
Declaration by Director (Format to be provided by us). Consent Letter by Director (Format to be provided by HG)

STEP 6 : Getting Incorporation Certificate:
After Uploading the Forms, generally within 3-7 working days, a Company Incorporation Certificate is received.

 Minimum Requirements for Private Limited Company Registration
• Minimum 2 Shareholders
• Minimum 2 Directors(The directors and shareholders can be same person
• No Minimum Capital Required
• DIN (Director Identification Number) for all the Directors
• DSC (Digital Signature Certificate) for all the Directors
• Registered Office (You can operate from your residential address. Private Limited can be Registered using your Home address.
You don’t need to invest initially in office setup.)

 Documents Required For Private Limited Company Registration:
1. Colour PP Photograph
2. PAN Card – Self Attested
3. Identity Proof – Any One Self Attested
(Driving License / Passport / Aadhar Card / Voter ID Card)
4. Address Proof – Any One Self Attested
(Latest Bank Statement / Electricity Bill / Telephone Bill / Mobile bill)

 Private Limited Company Registration Package Includes:
• 2-Digital Signature Certificate (DSC)
2-Director Identification Number (DIN)
• Company Name Approval by Ministry
• Memorandum of Association (MoA) &
Articles of Association (AoA)
• Registration Certificate
• Permanent Account Number (PAN)
• Tax Account Number (TAN)

HG corporates can help you with your company registration. They register your company in less than 10 days,
What is the procedure to register a startup company in India and how much will it cost?

 What is a private limited company?
Private limited company is a perfect start for anyone who wants to start their business to give it a separate legal identity. Private limited company can be formed with ease and its procedural compliance are also easy when compared to that of a public company.

 ADVANTAGES
A private limited company can be started off with just two members who will be the shareholders and directors.
A company enjoys separate legal identity unlike partnership firms.

Minimum capital required to incorporate a private limited company is one lakh.
Personal assets of the shareholders will not be at risk, in the event of the company facing financial distress.
A company enjoys perpetual existence unlike other forms of business i.e., the company continues to exist irrespective of the status of the owner.

 Procedure for Registration
With the introduction of form INC29, establishing a company is much easier and less time consuming.
Digital signature for at least one director is required.

If any director already possess DIN it can be used. Else, application for DIN can be made in INC 29.
Memorandum and Articles of Association should be drafted

Affidavit and declaration by first subscribers and Directors should be prepared
Duly filled INC29 should be filed with the ROC for incorporating the company stating the proposed name of the company which meets the requirements, along with the following requirements.
• MOA.
• AOA.
• Affidavit.
• Proof for registered office address along with utility bill.
• Once the application is duly filed and accepted by ROC, certificate of incorporation is issued and the company is

By |August 30th, 2017|Uncategorized|Comments Off on Lawyers for Company Registration
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Advocates for Sale Deed in Pune

*Ved Legal deals with property transfer cases such as SALE DEED, GIFT DEED, ASSINGMENT DEED, MORTGAGE DEED, and AGREEMENTS etc….since 2007. Ved Legal offers a multitude of services in the areas of Property, Co-operative and Matrimonial law and it is best known for its expertise in these fields. We have vast experience in representing our clients before concern authorities for the matters. We therefore undertake different types of property matters as mentioned above various transfers, Agreements (Rent, Lease and Leave & Licenses), Partnership Firms & Its Registration, Wills, Probates, Succession, Contracts etc.

We have enough experience in co-operative laws and property laws as well as we are specifically expertise in execution and registration process of various DEED & AGREEMENTS as well as in Registration process of Co-operative Housing/Commercial/Industrial Societies, Federations and execution of Conveyance or Deemed Conveyance thereof.

*AMENDMENTS IN THE TRANSFER OF PROPERTY ACT 1882.
Execution and registration of sale deed for an immoveable property transfers and conveys absolute title of the property in favour of the buyer. However, in certain cases, when a sale deed for an immoveable property is being executed, the concerned parties incorporate certain conditions in the document that impose restrictions or constraints on the right of the buyer to sell or transfer the property.

The Transfer of Property Act, 1882 deals with such restrictions or constraints. Any condition or limitation restraining the buyer from parting with or disposing of his interest in the property is void according to the act. Two exceptions to this rule are:

■ In the case of a lease where such restriction or condition is imposed for the benefit of the lessor, and
■ Where a property is transferred to or for the benefit of a woman who is not a Hindu, Muslim or Buddhist, with a condition that she shall not have power during her marriage to transfer or create any encumbrance in the sale of property transferred to her

The above mentioned rule has been incorporated into the Act to encourage sale and purchase of property without restriction on future transfer. It is based on the basic principle that transferring a property cannot be separated from giving the beneficial ownership of the property to the transferee/buyer. Therefore, the condition by which an absolute restraint is imposed against the transfer of that property is considered to be void. Selling or transferring the property is an inherent right of every owner and restrictive conditions cannot be imposed on him or her.

One of the examples of absolute restraint can be where A ( owner of a property) agrees to sell it to B (the buyer)for 1 lakh. While executing of the sale deed, A puts a condition in the sale deed that if B ever intends to part with or sell or transfer the house in the future, B must sell the house to A or heirs of A and to no one else. Such a condition would fall in the category of absolute restraint as it affects the beneficial enjoyment of the house by B. Beneficial enjoyment of the house by B includes his right to sell it or dispose it in any other way.

The consistent view of the courts has been that an absolute restraint is void but a partial restraint is not.
For applicability of this rule, two essential conditions are required: ■ There must be a transfer of property and ■ There must be a condition which absolutely restrains the transferee/buyer from alienation/transfer of such property This rule applies to only those conditions which impose an absolute condition on the alienation/ transfer of property. However, there may be certain conditions, which partially restrain the right of the owner of the property to alienate/transfer the property. Such specific conditions which partially restrain the owner from alienating/ transferring the property have been held to be valid by various courts on various occasions.

*PAPERS/DOCUMENTS REQUIRED FOR PROPERTY REGISTRATION IN PUNE

The following papers and documents are required for the registration of property.
ADJUDICATION
Adjudication is a process which evaluates a market value of a property and hence ascertains the stamp duty by collector of stamps. It is better to get the document adjudicated in case the building is very old and proper depreciation is not given by the sub-registrar.

NO OBJECTION CERTIFICATE
A No Objection Certificate (NOC) is required under the Urban Land Ceiling Act, if the land transferred exceeds 500 mtrs in the Pune City, If the land belongs to a Government Body or Semi-Government body or Charitable Trust then the NOC of the body is also required.

PROPERTY CARD OF THE LAND
A Property Card of the land on which the property is being registered is situated is necessary. This requirement is irrespective of whether land is sold or the building is being sold or any other part of the building is being sold and also irrespective of whether the seller of the property is recorded as the owner on the property card or not. In other words, even the flat owners are expected to produce this paper at the time of registration.

PROOF OF OLD CONSTRUCTION
If you are going to purchase and old property then you may claim the benefit of depreciation during the adjudication procedure. For that, the documents required are

–Municipal Assessment Bill Of The Building,
–Building Completion Certificate
— Original registered agreement between the builder and original purchaser of that flat or of any other flat in that building

REGISTRATION FEES
As per the valuation the registration fee is to be paid in cash to the sub-registrar at the time of registration. The fees are prescribed in the Registration Act, 1908 which is 1% of the market value or up to Rs. 30,000/- which is accepted by a Challan.

PROOF OF IDENTITY
Any proof of identity such as voter id card, PAN card, driving license, passport etc are required during the registration procedure.
Original Stamp Duty Payment Receipt
Photocopy of the Deed and Butter Paper

*TRANSFER OF PROPERTY LAWS….
Land is a subject falling within the powers of the State Governments under the Constitution of India 1 and hence, property laws in India may differ from State to State. Besides the local laws, several laws enacted by the Central Government also govern acquisition and ownership of property (including an interest in property) through purchase/sale, transfer, mortgage, inheritance or gift.

When a person acquires or owns an immovable property, the law also give him/her the right to use, lease, sell, rent or transfer/gift of the land. The owner also has a right to mortgage his immovable property as a security for loans. However, there are some laws which restrict the type of use a land can be put to, e.g., a land may be used only for residential or commercial purposes to prevent haphazard/unorganized growth of cities and towns. Laws in some of the States prevent/restrict outsiders from acquiring property within the State. Restrictions are also placed on non-agriculturists from acquiring agricultural land. There are also other laws which prescribe rules and regulations for protection of environment or which provide for approval of building plans/designs so as to protect people from natural or manmade hazards. Some laws like the Registration Act, 1908, also lay down provisions governing registration of property transactions so as to keep proper records of ownership of property in the public domain.

The Transfer of Property between any two parties is governed by the Transfer of Property Act, 1882. Both these parties need to be alive for transfer under the Act. In case of transfer of a property of a deceased person, Succession Laws as per the religion of the deceased will be applicable.

*PROPERTY LAW CASES / PROPERTY TRANSFER INCLUDES ALL MOVEABLE OR IMMOVABLE PROPERTY CLAIMS/SUITS.
The Indian Constitution does not recognize property right as a fundamental right. In the year 1977, the 44th amendment eliminated the right to acquire, hold and dispose of property as a fundamental right. However, in another part of the Constitution, Article 300 (A) was inserted to affirm that no person shall be deprived of his property save by authority of law. The result is that the right to property as a fundamental right is now substituted as a statutory right. The amendment expanded the power of the state to appropriate property for social welfare purposes. In other words, the amendment bestowed upon the Indian socialist state a license to indulge in what Fredric Bastiat termed legal plunder. This is one of the classic examples when the law has been perverted in order to make plunder look just and sacred to many consciences.

Indian experiences and conception of property and wealth have a very different historical basis when compared to western countries. The fact the present system of property as we know arises out of the peculiar developments in Europe in the 17th to 18thcentury and therefore its experiences were universally not applicable. A still more economic area in which the answer is both difficult and important is the definition of property rights. The notion of property as it has developed over centuries and it has embodied in our legal codes, has become so much a part of us that we tend to take it for granted, and fail to recognize the extent to which just what constitutes property and what rights the ownership of property confers are complex social creations rather than self-evident propositions.

Transfer of Property
If you want to transfer registered land or property, you must use the correct form depending on whether you are transferring the whole or part of the actual land or property. You will need to send us a completed form TR1 if you wish to transfer: the whole of the land/property a share of the property/land by adding someone to the ownership, for example, on marriage or civil partnership when the current owner(s) is transferring to themselves and their new partner a share of the property by removing someone from ownership, for example, when a relationship breaks down and one or more of the current owner(s) are transferring to the remaining owner(s) a share in the property/land by adding additional owners, for example when E and F want to add G and H to the ownership, so E and F transfer to E,F G and H, a share in a property, for example, when I J and K own the property/land and I no longer wants to be an owner so I, J and K transfer to J and K.

Having an authorized property without any legal issues is very important for a new property investor. With an increasing number of frauds in a land sale, it is quite difficult to sense the trouble at the initial stages. In such cases, one of the most important legal security towards the ownership of the property will be the sale deed. It is mandatory that every investor is aware of the importance and the basis of a sale deed. This will protect him from being cheated by any developers and owners.

While preparing property agreements you bear in mind some basic points. This not only helps you in ensuring the validity of an agreement but also saves time and avoids unwanted delays from the seller. Here are some tips that help you to ensure the validity of your property.

1. Terms for Payment
The buyer and seller have to agree to the terms of the price and other expenses with regard to the transfer of property. The document must contain the terms and method of payment agreed by both buyer and seller, the time required for payment of the last installment of property. The lawyers of both the buyer and seller must go through the documentation and sign them.

2. Transfer Title of Property
The title of the property is an important document for the sanction of mortgage or loan from the bank. The title of property should be transferred to the buyer’s name once the seller receives the amount agreed with the buyer. Transfer of title of the property is the last step in the transaction before transferring the property. Seller has to register the property in the buyer’s name in local registrar office or under whichever jurisdiction the property belongs to.

3. Stamp Duty
Stamp duty rates are fixed for properties by the authorities. The rate may vary from state to state. The buyer has to ensure that seller has registered the property in buyers name on the rate levied for the property transferring.

4. Sales deed
Sales deed is an agreement between the buyer and seller. One needs to go through all the requisite documents in detail with professional help If any property has multiple owners, then each owner has to sign on the documents.
(B) To Issue search title Reports

A title search is a process that is performed primarily to determine the answer to three important questions: Does the seller have a saleable interest in the property? What kind of restrictions or allowances pertains to the use of the land (real covenants, easements, or other servitudes)?
Do any liens exist on the property which needs to be paid off at closing (mortgages, back taxes, mechanic’s liens, or other assessments)?
Anyone may do a title search. Documents concerning conveyances of land are a matter of public record. These documents are maintained in hard copy format or sometimes scanned into image files but the information contained within the documents is typically not available in a data format as the records are descriptions of legal events which contain terms, conditions, and languages in excess. It is often the case that people choose to contact a title company or attorney to conduct an exhaustive title search. The process of performing a title search involves accessing the official land records for the subject property. Each record is a document evidencing an event which occurred in the history of the property. A deed records an event of property transfer, mortgage documents the collateral interest of a home loan, and a lien documents a claim against the property in favor of another. In each recorded event, the document indicates parties of grantor and grantee. The grantor is the party transferring away property rights, and the grantee is receiving property right. In the case of a deed, the grantor would typically be the property seller, and the grantee the buyer. A mortgage grantor is the borrower of the loan since they are giving away property rights to the lender, or grantee.

(C) Property Claims/Suits
Property rights are rights over things enforceable against all other persons. By contrast, contractual rights are rights enforceable against particular persons. Property rights may, however, arise from a contract; the two systems of rights overlap. In relation to the sale of land, for example, two sets of legal relationships exist alongside one another: the contractual right to sue for damages, and the property right exercisable over the land. A minor property rights may be created by contract, as in the case of easements, covenants, and equitable servitudes. A separate distinction is evident where the rights granted are insufficiently substantial to confer on the non-owner a definable interest or right in the thing. The clearest example of these rights is the license. In general, even if licenses are created by a binding contract, they do not give rise to property interests.

*SALE OF IMMOVABLE PROPERTY
Ved Legal comprises of a dedicated team of experts. We offer a multitude of services in the areas of Co-operative and Property law, but we are best known for our expertise in the Co-operative field i.e. Society Formation/Registration as well as Deemed Conveyance, Conveyance thereof. We have vast experience in representing our clients in matters of Society Formation, Deemed Conveyance, and Recovery. We also undertake different types of property matters including Conveyances, Agreements (Rent, Lease and Leave & Licenses), Partnership Firms & Its Registration, Wills, Probates, Succession, Contracts etc..

There are various ways through which you can transfer a property that you own. It could be by way of sale, Will or gift. A commonly used method, especially when transferring to a family member or friend, is executing a gift deed in favour of the recipient. Though no monetary transaction is involved, it is still necessary to register the gift deed to make the transfer valid.

1) At time of Sale of Immovable Property, we come across the market value of the property. What exactly is the meaning of market value of property?
It means the price which such property would have fetched if sold in open market on the date of execution of such Document or the consideration stated in the document whichever is higher. However the Stamp office uses Ready Reckoner for referring to prevalent value of the property.
Stamp Duty is Paid on the Market Value of the property and not on the amount of consideration stated in the Document.

2) Why Stamp duty is required to be paid?
It is kind of Tax like Sales Tax or Income Tax . And it must be paid in full and on time to the government. When there is a delay in payment, penalties are imposed. If it is properly paid as per the approved rate and after ascertainment of market value of the property, then the instrument / document/ agreement is treated as duly stamped document which can be admitted as evidence in any lawful transaction or in the court. if they are not properly stamped, Court or the Competent Authority may impound the same or will not be accepted as evidence.

*TRANSFER OF PROPERTY ACT IN INDIA
The Transfer of Property Act governs the transfer of property by any means in India. Property can be transferred by sale, mortgage, exchange, lease or gift. All such property transactions are governed by the Transfer of Property Act.

As per the Act, a sale is transfer of ownership of property in exchange for a price paid or promised to be paid. Any sale of property must be made only by a written and registered instrument like sale deed. On execution of a property transfer document, delivery of the immovable property takes place when the seller places the buyer, in possession of the property to complete the property sale transaction.

It is important to note that an agreement for sale of property does not amount to sale of property, as it does not, of itself, create any interest in or charge on the property.

Mortgage of Property
Mortgage is the transfer of an interest in an immovable property for the purpose of securing a loan or the performance of an engagement. Hence, though mortgage does not transfer the property to a third-party, it creates an interest in the immovable property. More about property mortgage laws in India.

Lease of Property
Lease of property is a transfer of right to enjoy the property, for a certain period of time or in perpetuity, for consideration paid or promised by the transferee. In a lease transaction, the owner of the property is the transferor and the tenant is the transferee. In the absence of a lease agreement, the lease of agricultural or manufacturing property is deemed to be a lease from year to year, terminable by either party with a six months notice. Lease of immovable property for any other purpose is deemed to be a lease from month to month, terminable by either party with fifteen days notice. Lease of property for any term exceeding one year or reserving a yearly rent must be made as a registered lease agreement. All lease agreements must be executed by both the lessor and the lessee.

Exchange of Property
When two persons agree transfer the ownership of a property for the ownership of another property, neither thing nor both things being money only, then the transaction is called an “exchange” of property. A transfer of property in completion of an exchange can be made only in a way provided for the transfer of such property by sale.

Gift of Property
Gift of property is when a transfer or property happens voluntarily and without consideration. In a gift of property, the person giving the property is called the donor and the person accepting the property is called the donee. All gift of property must be made by way of registered instrument signed by or on behalf of the donor and attested by at least two witnesses. The acceptance of a gift of property must be made during the lifetime of the donor and while he is still capable of giving.

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Advocates for Deemed Conveyance

Conveyance of Co- Operative Housing Society:-

Conveyance of a Property is transferring the Rights, Title, Interest and Ownership of the Property from the Seller to the Purchaser.

In case of a Co- Operative Housing Society (formed by the Flat Purchasers/ Owners under the provisions of Maharashtra Co- Operative Societies Act, 1960), Conveyance is transferring the Rights, Title, Interest and Ownership of the Land and Building from the Land Owner/ Property Developer to the Co- Operative Housing Society.

As per the provisions under Section 11 of Maharashtra Ownership Flat Act, 1963, Conveyance is the Right of the Co- Operative Housing Society and the Duty of the Property Developer/ Promoter to be executed within 4 months from the date of Registration of the Co- Operative Housing Society.

The Conveyance is to be executed by way of Conveyance Deed between the Land Owners & the Co- Operative Housing Society where the Property Developer is the Confirming Party. This Conveyance Deed is required to be Adjudicated & properly Stamped as per the Bombay Stamp Act, 1958 & thereafter Registered as per the Registration Act, 1908. It is required to obtain the Index II of the Registered Conveyance Deed. The copy of Registered Conveyance Deed along with the Index II is to be submitted to various Government Offices for change in the mutation entries of the Property.

After the Land and Building is conveyed in favour of the Co-operative Housing Society and the Title of the property is fully and finally recorded in the Property Card and other Revenue Records then only the Co- Operative Housing Society becomes absolute owner of the Property & the Title of the Co- Operative Housing Society becomes completely free and marketable

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Transfer of Property Laws in Pune

Transfer of Property Laws….

Land is a subject falling within the powers of the State Governments under the Constitution of India 1 and hence, property laws in India may differ from State to State. Besides the local laws, several laws enacted by the Central Government also govern acquisition and ownership of property (including an interest in property) through purchase/sale, transfer, mortgage, inheritance or gift.

When a person acquires or owns an immovable property, the law also give him/her the right to use, lease, sell, rent or transfer/gift of the land. The owner also has a right to mortgage his immovable property as a security for loans. However, there are some laws which restrict the type of use a land can be put to, e.g., a land may be used only for residential or commercial purposes to prevent haphazard/unorganized growth of cities and towns. Laws in some of the States prevent/restrict outsiders from acquiring property within the State. Restrictions are also placed on non-agriculturists from acquiring agricultural land. There are also other laws which prescribe rules and regulations for protection of environment or which provide for approval of building plans/designs so as to protect people from natural or manmade hazards. Some laws like the Registration Act, 1908, also lay down provisions governing registration of property transactions so as to keep proper records of ownership of property in the public domain.

The Transfer of Property between any two parties is governed by the Transfer of Property Act, 1882. Both these parties need to be alive for transfer under the Act. In case of transfer of a property of a deceased person, Succession Laws as per the religion of the deceased will be applicable.

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Formation / Registration of Co-operative Housing Societies in Pune

Formation / Registration of Co-operative Housing Societies in Pune

According to the Law, every Builder / Developer has to form a Housing Co-operative Society with limited options available in this regard to managing the affairs of the building i.e.

(a) Condominium
(b) Private Limited Company and
(c) Co-operative Society, (excluding the unrealistic rental housing),

It wouldn’t be an exaggeration to state that in at least 90% the Promoters and / or the Builders have formed a Housing Co-operative Society.
The basic requirements for a Co-operative Housing Society Registration normally are unknown to the flat/unit purchasers. It is the statutory obligation cast upon the builder, where the builder acts as a friend, philosopher, and guide of the promoters and helps them in forming a Co- operative Housing Society.

There are four types of Housing Co-operative Societies

(a) Open Plot type Societies [Tenant ownership]
(b) Flat Owners Societies [Tenant Co-partnership]
(c) Tenant Societies
(d) Housing Board Societies.

The procedure for Co-operative Housing Society Registration begins with electing a Chief Promoter in a meeting of the Promoters. The builder under the Flat Owners type of co-operative society has the first right to act as the chief promoter. The developer / flat purchasers should call for a meeting of the Promoters by issuing the notice under Agenda of the meeting given at least 14 days notice to the Promoters. In this meeting, a Chief Promoter is elected who can exercise such powers and carry out such functions as are mentioned in the minutes of the Promoters of the proposed Co-operative Society. After electing the Chief Promoter, the proposed name of the society has to be decided by the Promoters. Normally, the name reservation proposal should be accompanied by the signature of at least 10 Promoters who have attended the meeting. It is a common belief that the Society should consist of at least 10 members. If the number is less than 10 then special permission from Government has to be taken. In such cases, the garages/car parking may be allotted to other relatives of the promoter to reach a number of 10.

It would be of interest to note that the model bye-laws define flat as a Flat means a separate set and self-contained set of premises used or intended to be used or intended to be used for residence, or office or showroom, or shop, or godown and includes a garage, or dispensary, or consulting room, or clinic, or flour mill, the premises forming part of a building and includes an apartment. On allotment of name and permission to open a bank account by the Registrar, the Chief Promoter has to collect Share Capital, Entrance Fees from promoters and deposit the same in the branch of the bank permitted by the Registrar. It should be noted that the amount cannot be withdrawn from the Bank till the Society is Registered or its Registration is refused, except with prior written permission of the Registrar. The Chief Promoter should submit Registration Proposal to the Registering Authority within a period of 3 months from the date of issue of Letter of Reservation in the name of the proposed Society.

The documents that need to be submitted to the Registering Authorities for Housing Co-operative Society Registration are as under :

1. Application for registration of Housing Co-operative Society in Form A along with Statement A. Enclosure to application for Registration as per Rule 4(1) of Maharashtra Co-operative Societies Rules, 1961.
2. Information about proposed Housing Co-operative Society in Statement ‘B’ (vide Govt. Circular dated 2-5-1980).
3. Information about promoter members of the proposed Housing Co-operative Society in Statement ‘C’ (vide Govt. Circular dt. 2-5-1980).
4. A Statement of Accounts as per Form D.
5. Model Bye-laws.
6. Bank Balance Certificate.
7. S.B.I. / Treasury Challan for payment of Registration Fee of Rs. 2500
8. Title Clearance Certificate from an Advocate
9. A true copy of the approved Building Plan.
10. Letter of Authority Granting permission to commence construction work/Completion Certificate (if applicable).
11. Affidavit on Rs. 100/- Stamp Paper from at least 10 promoter members to the effect that they are residing in the area of operation of the Society (Proposed), made before a Competent Authority.
12. An affidavit from the Chief Promoter on Stamp Paper of Rs. 100/- executed before the Competent Authority in form ‘Y’.
13. Certified True Copy of an agreement made on Stamp paper and registered between the builder, promoter and purchasers of flat.
14. Where the promoter members are firms/ companies, a letter of authority from such firms/companies authorizing the promoter to sign on behalf of firm / company.
15. In the case of such proposed societies, names of 60% of the flat holders of the total number of flats constructed or proposed to be constructed as per the plan approved, must be included in Statement ‘A’ to be attached to the Registration Proposal. It is the duty of the Registrar to register the society and on registration of the society, it becomes a separate legal entity. Thereafter, the management of the affairs of the society is carried out by the managing committee which is elected by the general body meeting of the society. It may be of interest to note that in a co-operative society the principle is one member one vote. In a co-operative society, the right to be exercised in the general body meeting is a personal right. This is one of the reasons why even a person holding a power of attorney cannot attend the general body meeting of the society. The quantum of the capital being introduced by the member is not of much importance. Preference should be given to the formation of a private limited company if one member proposes to acquire the majority of flats in the building.

List of Documents for Deemed Conveyance as under

  • Resolution & Notice to Builder
  • Development Agreement
  • Power of Attorney
  • Layout Plan (Blueprint)
  • Commencement Certificate, if so
  • Completion Certificate, if so
  • 7/12 Extract
  • Search Title Report
  • N.A. Order & U.L.C Order
  • Single copy of an Agreement (First Buyer)
  • All Index- II of all flats/shops
  • Architect Certificate of Area

Professional Charges & Expenses For Society Formation

  • 1. 10 to 25 Flats – Rs.3,500/-per flat + Rs.20,000/- (Advocate Fee)
  • 2. 26 to 50 Flats – Rs.3,500/-per flat
  • 3. 51 to 100 Flats – Rs.3,000/-per flat
  • 4. 101 to 200 Flats – Rs.2,500/-per flat
  • 5. Above 200 Flats – Rs.2,000/-per flat

For More information please contact us:
Consultants for Housing Co-operative Society Registration in Pune / Housing Co-operative Society Formation in Pune
Ved Legal
Email: [email protected] / [email protected]
Mobile: +91 9763040088

By |April 5th, 2017|Uncategorized|Comments Off on Formation / Registration of Co-operative Housing Societies in Pune
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Deemed Conveyance of Co-operative Housing Societies in Pune

Deemed Conveyance of Co-operative Housing Societies in Pune

Conveyance of a Property is transferring the Rights, Title, Interest and Ownership of a Property from the Seller to the buyer. In case of a Co- Operative Housing Society (formed by the Flat Purchasers/ Owners under the provisions of Maharashtra Co- Operative Societies Act, 1960), Conveyance is transferring the Rights, Title, Interest and Ownership of the Land and Building from the Land Owner/ Property Developer to the Co- Operative Housing Society.

We were already working on several cases of a similar kind under the provision of Maharashtra Ownership Flats Act, 1963(MOFA). Nearly 80% of the Co-operative Housing Societies had not received the Conveyance of land and building in their favour from the Builder. The amendments were to be carried out in the Maharashtra Ownership Flats Act, 1963 under the auspices of a Competent Authority to hear the grievances on Conveyance by the Societies or other legal bodies in 2005. The President of India gave the assent on February 25, 2008, and it became the Law of the Land.

In June 2008, the necessary notifications were issued by the Government of Maharashtra designating the District Deputy Registrars of the Co-operative Societies as the Competent Authorities under the MOFA even after a lapse of 18 months cases were accepted by the Competent Authority. Execution & Registration of Conveyance, Deemed Conveyance, Deeds & Agreements etc..

Deemed Conveyance is an Amendment under sub- section (3) of section 11 of the Maharashtra Ownership Flats (Regulation of the Promotion of Construction, Sale, Management and Transfer) Act, 1963. The following will give you more clarity on what this is all about.

• Deemed Conveyance Amendment is applicable to the Societies that have not received Conveyance from the Land Owners & Property Developers
within 4 Months of their formation.
• The aggrieved Society shall make a Deemed Conveyance Application to the Competent Authority designated by Government of Maharashtra.
• The Deemed Conveyance Application of the Society shall include the Documents notified by Government of Maharashtra for Deemed
Conveyance.
• The Competent Authority shall hear the say of the Land Owners & Property Developers.
• The Competent Authority on satisfaction shall issue the Deemed Conveyance Order & Certificate in favour of the
Aggrieved Society.
• The Competent Authority shall execute the Deemed Conveyance Deed on behalf of the Defaulting Land Owners & Property Developers with the Aggrieved Society.

By |April 5th, 2017|Uncategorized|Comments Off on Deemed Conveyance of Co-operative Housing Societies in Pune
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Deemed Conveyance Stages

Deemed Conveyance Stages

Conveyance of a Property is transferring the Rights, Title, Interest and Ownership of a Property from the Seller to the buyer. In case of a Co- Operative Housing Society (formed by the Flat Purchasers/ Owners under the provisions of Maharashtra Co- Operative Societies Act, 1960), Conveyance is transferring the Rights, Title, Interest and Ownership of the Land and Building from the Land Owner/ Property Developer to the Co- Operative Housing Society.

We were already working on several cases of a similar kind under the provision of Maharashtra Ownership Flats Act, 1963(MOFA). Nearly 80% of the Co-operative Housing Societies had not received the Conveyance of land and building in their favour from the Builder. The amendments were to be carried out in the Maharashtra Ownership Flats Act, 1963 under the auspices of a Competent Authority to hear the grievances on Conveyance by the Societies or other legal bodies in 2005. The President of India gave the assent on February 25, 2008, and it became the Law of the Land.

In June 2008, the necessary notifications were issued by the Government of Maharashtra designating the District Deputy Registrars of the Co-operative Societies as the Competent Authorities under the MOFA even after a lapse of 18 months cases were accepted by the Competent Authority. Execution & Registration of Conveyance, Deemed Conveyance, Deeds & Agreements etc..

Deemed Conveyance is an Amendment under sub- section (3) of section 11 of the Maharashtra Ownership Flats (Regulation of the Promotion of Construction, Sale, Management and Transfer) Act, 1963. The following will give you more clarity on what this is all about.

• Deemed Conveyance Amendment is applicable to the Societies that have not received Conveyance from the Land Owners & Property Developers
within 4 Months of their formation.
• The aggrieved Society shall make a Deemed Conveyance Application to the Competent Authority designated by Government of Maharashtra.
• The Deemed Conveyance Application of the Society shall include the Documents notified by Government of Maharashtra for Deemed
Conveyance.
• The Competent Authority shall hear the say of the Land Owners & Property Developers.
• The Competent Authority on satisfaction shall issue the Deemed Conveyance Order & Certificate in favour of the
Aggrieved Society.
• The Competent Authority shall execute the Deemed Conveyance Deed on behalf of the Defaulting Land Owners & Property Developers with the Aggrieved Society.

List of Documents for Deemed Conveyance as under

  • Resolution & Notice to Builder
  • Development Agreement
  • Power of Attorney
  • Layout Plan (Blueprint)
  • Commencement Certificate, if so
  • Completion Certificate, if so
  • 7/12 Extract
  • Search Title Report
  • N.A. Order & U.L.C Order
  • Single copy of an Agreement (First Buyer)
  • All Index- II of all flats/shops
  • Architect Certificate of Area
  • Society Registration Certificate

Professional Charges & Expenses For Deemed Conveyance

  • 1. 10 to 25 Flats – Rs.3,500/-per flat + Rs.25,000/- (Advocate Fee)
  • 2. 26 to 50 Flats – Rs.3,500/-per flat
  • 3. 51 to 100 Flats – Rs.3,000/-per flat
  • 4. 101 to 200 Flats – Rs.2,500/-per flat
  • 5. Above 200 Flats – Rs.2,000/-per flat

For More information please contact us:
Advocates for Deemed Conveyance in Pune
Ved Legal
Email: [email protected] / [email protected]
Mobile: +91 9763040088

 Deemed Conveyance Stages

1st Preparation for Deemed Conveyance:

In this stage the managing committee of Co-operative Housing Society needs to pass resolution to undergo deemed conveyance. A Special General Meeting is scheduled with prior notification and consent of all the members is obtained forgoing ahead with Deemed Conveyance.

During this Special General Meeting the following Resolutions passed by Society.

  1. Resolution for going ahead with Deemed Conveyance
  2. Resolution for Appointment of Authorized Representative
  3. Resolution for Appointment of Legal Consultant for Deemed Conveyance
  4. Resolution for Per Member Contributions against the Cost for Process of Deemed Conveyance

2nd Documentation for Deemed Conveyance:

This is the most crucial step in obtaining deemed conveyance. It is a very meticulous job and makes sure all the documents are lined up serially as per the instruction of Competent Authority. You would require land revenue records, municipal corporation records, society records, property development records and professional certificates.

All these documents can be obtained from various departments such as Land revenue records from City Survey Office, Tahasildar/ Talathi Office & District Collector Office, municipal corporation records from Building Proposal Department of the Municipal Corporation. Society records and certificates can be obtained from society offices and professionals.

Once all the documents are lined up, society needs to fill in Deemed Conveyance Application- Form VII and attached all the related documents. In case of deemed conveyance, a legal notice is sent to the developer for their consent. In regular conveyance procedures, since the developers or promoters are willingly providing the rights lot of documents can be easily recovered from them.

Once the form is filled up and all documents are annexed it is submitted to the Competent Authority- The District Deputy Registrar of Co- Operative Societies of the particular District.

3rd Legal Case for deemed conveyance:

Once the application is submitted to the authorities they issue Deemed Conveyance Scrutiny Report- Form VIII within 1 month. Once the compliance is provided the authorities issues Summons & Newspaper Notices to the Land Owners & Property Developers for appearing for the hearing.

During the hearing process authorities take into consideration the arguments of the both parties. The process takes place within 3-4 months. Once all the arguments are documented the office issues a Deemed Conveyance order within 1 month. The whole process is completed within 6 months as this is a time bound activity.

 

4th Registration of deemed conveyance:

A deemed conveyance deed is created during this phase and is signed by both societies and developers. If developers do not appear for hearing in the prior stage (Which is the case in deemed conveyance), authorities have the power to sign the deed on behalf of developers.

The society needs to conduct a meeting and appoint 3 members to sign the deed. Post that the deed is submitted to district stamp office for adjudication. If all the members have paid their stamp duty and if there is no balance FSI, the office issues adjudication certificate. (Note – Deed only requires Rs 100 stamp duty). The adjudication certificate needs to be then franked from local bank and resubmitted to registration office.

The registration office then issues notice to land owner/developer to verify if there is any stay order against the deed of conveyance. (Note – The developer can get the stay order only from high court). If there is no stay order the deed of deemed conveyance is registered and then the office issues scanned documents and Index II. This mark end of registration process and the society becomes the owner of the land and structure.

5th Transfer of property:

In this phase a new application is submitted to various departments to make mutation entries in their records. This would make the process complete.

 

By |April 3rd, 2017|Uncategorized|Comments Off on Deemed Conveyance Stages
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Conveyance, Deemed Conveyance of Co-operative Housing Societies in Pune

Conveyance, Deemed Conveyance of Co-operative Housing Societies

Conveyance of a Property is transferring the Rights, Title, Interest and Ownership of a Property from the Seller to the buyer. In case of a Co- Operative Housing Society (formed by the Flat Purchasers/ Owners under the provisions of Maharashtra Co- Operative Societies Act, 1960), Conveyance is transferring the Rights, Title, Interest and Ownership of the Land and Building from the Land Owner/ Property Developer to the Co- Operative Housing Society.

We were already working on several cases of a similar kind under the provision of Maharashtra Ownership Flats Act, 1963(MOFA). Nearly 80% of the Co-operative Housing Societies had not received the Conveyance of land and building in their favour from the Builder. The amendments were to be carried out in the Maharashtra Ownership Flats Act, 1963 under the auspices of a Competent Authority to hear the grievances on Conveyance by the Societies or other legal bodies in 2005. The President of India gave the assent on February 25, 2008, and it became the Law of the Land.

In June 2008, the necessary notifications were issued by the Government of Maharashtra designating the District Deputy Registrars of the Co-operative Societies as the Competent Authorities under the MOFA even after a lapse of 18 months cases were accepted by the Competent Authority. Execution & Registration of Conveyance, Deemed Conveyance, Deeds & Agreements etc..

Deemed Conveyance is an Amendment under sub- section (3) of section 11 of the Maharashtra Ownership Flats (Regulation of the Promotion of Construction, Sale, Management and Transfer) Act, 1963. The following will give you more clarity on what this is all about.

• Deemed Conveyance Amendment is applicable to the Societies that have not received Conveyance from the Land Owners & Property Developers
within 4 Months of their formation.
• The aggrieved Society shall make a Deemed Conveyance Application to the Competent Authority designated by Government of Maharashtra.
• The Deemed Conveyance Application of the Society shall include the Documents notified by Government of Maharashtra for Deemed
Conveyance.
• The Competent Authority shall hear the say of the Land Owners & Property Developers.
• The Competent Authority on satisfaction shall issue the Deemed Conveyance Order & Certificate in favour of the
Aggrieved Society.
• The Competent Authority shall execute the Deemed Conveyance Deed on behalf of the Defaulting Land Owners & Property Developers with the Aggrieved Society.

List of Documents for Deemed Conveyance as under

    • Resolution & Notice to Builder
    • Development Agreement
    • Power of Attorney
    • Layout Plan (Blueprint)
    • Commencement Certificate, if so
    • Completion Certificate, if so
    • 7/12 Extract
    • Search Title Report
    • N.A. Order & U.L.C Order
    • Single copy of an Agreement (First Buyer)
    • All Index- II of all flats/shops
    • Architect Certificate of Area
  • Society Registration Certificate

For More information please contact us:
Advocates for Deemed Conveyance in Pune
Ved Legal
Email: [email protected] / [email protected]
Mobile: +91 9763040088

By |April 1st, 2017|Uncategorized|Comments Off on Conveyance, Deemed Conveyance of Co-operative Housing Societies in Pune
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