The Significance and Purpose of FSSAI.

FSSAI is a platform which watches every move of a food organisation in India. In simple words, it is an organization which shapes the safety of food businesses in India. The organization is an autonomous body regulated by FSSAI ACT which acts to lay down science-based standards for articles of food and to monitor their functions like manufacture, storage, distribution, sale, import to ensure the safety and hygiene of food for human consumption.

FSSAI has been established and governed under the Ministry of  Health and Family Welfare, Government of India and its main motive is to secure public health by checking the quality of food and reducing the food adulteration and promoting sale standard products.

Why should one get a FSSAI registration?

It is mandatory for food business operators to get registered under FSSAI as it provides food security to the customer. It is compulsory for all the food operators dealing with manufacturing, processing, storage, distribution and sale of food products to get registered under the FSSAI.

Please note: FSSAI Registration and FSSAI License are two different things. These depend upon the nature and size of the business operations. FBO is required to obtain necessary registration or license to run the food business favourably and legally. 

The FSSAI registration/license is to ensure that the food is examined thoroughly and declared safe for consumption. Anything which is unhealthy or not appropriate as per human consumption is required to be eliminated by the FBO registered under FSSAI.

Next, the food is permitted only once the inspection is done by the officers of the food department. Every aspect of the food is strictly inspected by the officers and they grant the certificate only when they feel satisfied by the end product.

Once the registration is done, the 14-digit registration or a license number will be printed on the food package. The 14-digit registration number will provide all the necessary details about the assembling state, producer’s permit. It provides more accountability on the FBO to focus on maintaining the quality of the food products.

A new system has been set under the FSSAI for registering/license of food named FOSCOS which stands for Food Safety Compliance System only for the states/UTs of Tamil Nadu, Puducherry, Gujarat, Goa, Odisha, Manipur, Delhi, Chandigarh and Ladakh. An online application name FLRS (Food Licensing and Registration System) also has been established for the purpose of applying and tracking of food Registration/License in India.

FSSAI Registration/License Procedure:

FSSAI registration or license procedures are regulated by the Food Safety and Standards (Licensing and Registration of Food Business) Regulations, 2011. The procedure depends upon the business volume and premises.

The registration and license are done according to the installed capacity or turnover of the business, 

FSSAI Registration and License are classified in the following ways:

1.Central License, in case of large food business

2.State License, in case of medium food business

3.Registration, in case of the petty food business.

Requirements for FSSAI Registration:

FSSAI Registration is done in case of the small-scale food business. It is a basic license which covers the following businesses:

  1. Any food business which has an annual turnover of not more than Rs.12 lakh.
  2. A petty food business.
  3. Food article sold by or manufactured by any person.
  4. Temporary food stallholder.
  5. Food distributed in any religious or social gathering by any person except a caterer.
  6. Following small scale industries dealing in the food business with the capacity:
  • Up to 100 Kg/tr per day in case of food products other than milk and meat.
  • Up to 500 ltr per day in case of procurement, handling and collecting milk.
  • Up to 2 large animals or 10 small animals or 50 poultry birds per day or less in case of slaughtering business.

Requirements for FSSAI License:

All the food businesses except businesses working on a small scale are required to obtain FSSAI license. The license is classified into two types: State and Central license.

A State License is obtained by FBO only when its turnover is between Rs. 12 Lakh to Rs. 20 Crore. The FBO whose turnover exceeds Rs. 20 crores and operates in two or more states is required to obtain a license under the Central Government. 

Also, the following organizations are required to obtain the FSSAI License:

  •  manufacturing units having the capacity of 2MT per day
  •  handling dairy units up to 5000 litres per day
  • 3-star hotels and above
  • repackers and relabelling units
  • clubs, canteens and all catering business.

The maximum tenure of the license is a minimum of 1 year and a maximum of 5 years

Documents required for FSSAI registration:

-Aadhaar Card of the FBO

-Pan Card 

-Passport size photo

-Trading License of the shop or GST registration

-Updated Bill of the food business

Benefits of FSSAI Registration and License:

-Provides legal advantages.

-Attract more customers

-Build goodwill

-Guarantee food security

-Provide awareness to the consumer

-Promotes business expansion.

-Regulates the function of the business.From promoting food safety in the country to filling the gaps between safe food and adulterated food, FSSAI registration plays an important role. It regulates the FBO and sets rules for flexible production and efficient marketing standards. If you deal with the food business then you should get registered or renew by submitting your form-A, Form-B (Central or State license) or complete your registration by simply visiting our website or getting in touch with our experts. Team Delfyle wishes you the very best of luck for your amazing journey ahead. In case of any further queries, feel free to get in touch with us at info@delfyle.com for a chat, absolutely free of cost!

What is a Partnership and what are its characteristics?

A partnership is an upgraded form of a proprietorship as it provides various other benefits which a proprietorship fails to provide. In a partnership, one or more persons can join hands to form a business organization unlike sole proprietors. Sole proprietors suffer from various limitations such as limited resources, limited skills and unlimited liability. The risk involved in partnership is more than in a proprietorship.

Expansion of business in a partnership is much easier as there is more capital investment, better managerial skills and quick decision making. In case any one partner lacks managerial skills or has less capital, he or she can get help from the other partners regarding the same.

Definition of a Partnership:

The definition of partnership under Partnership Act, 1932 states that “Partnership is the relation between persons who have agreed to share the profit of business carried on by all or any one of them acting for all.” 

In simple words, the term is defined as a contract made voluntarily between two or more persons to locate their capital, skills, labour or some or all of them in a lawful manner with the understanding that there shall be sharing of profit between them. 

Characteristics of a Partnership:

The partnership has the following characteristics:

  1. Agreement: The partnership can start with an agreement with 2 or more people acting as partners.
  2. Sharing of Profit: The most important feature of the partnership is the division of profit and losses,the profits and losses are shared according to the agreement of the partners while registering the partnership deed. In the absence of any such clause in the partnership deed, the profit and losses will be distributed equally.
  3. Lawful business: The business carried by the partners should be lawful and the object of the business shall not contravene the provisions of the Partnership Act,1932.
  4. Members: The minimum members under partnership can be two and maximum partners can be 20 to run a business.
  5. Unlimited Liability: The liabilities of the partners are unlimited, joint and several.
  6. Mutual Agency: As per the definition of the partnership the business must be carried on by all the partners or any one of them acting for all.
  7. Non-transferability of shares: The share of interest cannot be transferred by a partner to others without the consent of all the other partners.

Examples of partnership:

Few famous brands in India that qualify as a Partnership are:

-Spotify and Uber

-Maruti Suzuki

-Levi’s and Pinterest

Advantages of a Partnership:

The partnership has its own advantages as it is an upgraded and better version of sole proprietorship. The following are the benefits of partnership

  1. A partnership firm can be formed easily by joining the hands with one or more partners and no legal formalities and expenses are required to start a partnership firm.
  2. Partners can contribute capital and resources in bulk as compared to a sole proprietor.
  3. It is much more flexible as it is easy to initiate changes in terms of meeting the desired result of the future .
  4. All losses in partnership firms are shared equally among the partners. Therefore, it is easy for them to meet the future losses if any.
  5. Partnership has an advantage as each partner contributes with a different set of skills and knowledge.

   Partnerships are mostly preferred by entrepreneurs with startups. It provides better control over the business due to which it helps in seeking higher levels of profit. It is important for the partners to go together and make a deed with the consent of all the partners so that it includes all the essential elements of the business to avoid conflicts in future. Team Delfyle wishes you the very best of luck for your amazing journey ahead. In case of any further queries, feel free to get in touch with us at info@delfyle.com for a chat, absolutely free of cost!

The Importance of Applying for Copyrights in India.

Copyright is governed by the Copyright Act, 1957  which provides exclusive rights to creators for the protection of their literary work, song lyrics and composition, film, art, poetry, graphic designs, original architectural designs, software etc. It is a right to safeguard the original material of the creator and to provide an exclusive right to use and duplicate the material for a given amount of time. The duration and scope given for the protection of copyright varies according to the nature of the work. The basic objective of the copyright is to motivate the creative activity of the authors and inventors by securing their work from being misused.

In India, it is not mandatory to register a copyright as it is protected by the virtue of its creation use under the common law but in case of any dispute as to who is the first creator of a particular work or the idea of work being stolen, the registration of copyright will act as the decision-turner.

Definition of Copyright:

A Copyright is a grant of an exclusive right to make copies,license, use, or exploit an original work of art according to the wish of its owner.

Example of Copyright:

Suppose ‘A’ is a self -taught beauty consultant and makes different tutorial videos offering her advice. In case she wants to protect her work then the copyright laws will protect her video from being recreated by some other person and also provide her with exclusive rights to use it accordingly. ‘B’ may not use her content for commercial purposes or gains.

Benefits of copyright registration:

It is highly recommended to get a copyright registered as there are numerous benefits for registration. Following are the benefits provided by copyright registration:

  • In case of infringement, the creator of the work can file a suit to enforce copyright in federal court.              
  • It works as an evidence of validity. Therefore, the registration will act as a proof that the copyright is valid and will satisfy the court at the time of the infringement suit.                                
  • In the event of statutory damage, it enables the person to claim statutory damages and attorney’s fees.             
  • It makes sure that the work of the copyright owner is protected and guards against possible future theft.

If you’re a content creator, music creator or write poetry and wish to protect your creation from being stolen or misused, copyright is a great option to look at.  Team Delfyle wishes you the very best of luck for your amazing journey ahead. In case of any further queries, feel free to get in touch with us at info@delfyle.com for a chat, absolutely free of cost!

The Significance and Purpose of Trademarks.

What is a Trademark?

In simple words, a trademark is known to be a visual symbol or a unique sign which may include the words signature, name, device, labels, numerals or the combination of colours used on your goods or services to make it easy to differentiate your products from your competitor’s products. The Trademark Act of 1999 was introduced to protect the rights of trademark users.

It is important to register the company’s trademark as doing so will protect the name of the company and its reputation. Registering the trademark will also restrict others from using it for commercial gain.

How to select a good trademark:

For a good trademark, it is important to choose a word which is easy to pronounce, spell and remember. To make it different from others you can use different geographical names and designs to make it attractive or a common personal name or surname. You can try avoiding laudatory words.

The trademark includes any one of the below things or combination of the following:

  • Letter
  • words
  • Number
  • Phrase
  • Graphics
  • Logo
  • Sound Mark
  • Mix Colors

How a Trademark functions:

 A Trademark functions in the following ways:

  • It provides an identity to the goods/or services 
  • Gives an origin to the name.
  • Guarantees protection from being misused
  • Provides an opportunity to advertise the goods/services
  • Also creates an image for the goods/services.

Benefits of having a registered trademark:

Once a trademark is registered it provides various benefits to the user in respect to the goods and services. It is indicated by use of the symbol (R) and thereby helps to protect the authenticity of the product. A user of a trademark can seek relief of infringement from the appropriate courts in the country. It is a platform where the owner enjoys the exclusive rights to use the trademark.

Registering a trademark attracts more customers by introducing them with new products and provides exclusive rights for 10 years. If you have an idea which is unique you should definitely get it registered! Team Delfyle wishes you the very best of luck for your amazing journey ahead. In case of any further queries, feel free to get in touch with us at info@delfyle.com for a chat, absolutely free of cost!

Registering a Section 8 Company in India.

A company registered under Section 8 of Companies Act, 2013 is similar to the Section 25 Company under the old Companies Act, 1956 but with more objectives. Section 8 of Companies Act 2013 refers to a company as a company having non-profit and charitable objectives. A company under Section 8 devotes all its incomes and profits towards the advancement of their objectives. The main motive of the Company is to uplift the objectives like commerce,art, science,education, research, social welfare, religion, charity, environment protection and other similar objectives.

Features for registration:

The registration process of Section 8 Company is similar to that of a Private Limited Company therefore to start a Section 8 Company, a minimum of  2 directors are required.

Section 8 Company of the Companies Act, 2013 has some special features which distinguish it from other kinds of companies:

  • Non-Profitable objectives: Section 8 Companies work on a charitable basis and do not work to make a profit. The main focus of the company is to cover objectives like art, science, research, sports, religion and so on.                                  
  • Minimum paid-up capital: Section 8 companies do not require minimum paid up share to start the company like all other companies.                       
  • Limited Liability: The members under the Section 8 Company can only have limited liabilities.                             
  • Government License: The Section 8 Company requires a Central Government license to function although the Government can revoke the license in case of  any problems.                       
  • Privileges: As the company deals with charitable objectives, it has many benefits and exemptions attached to it.          
  • Firms as members: Another advantage of a Section 8 Company is that it also includes firms to be members of the company apart from the individuals and associations of persons.                         
  • Formation of the Company under Section 8:                      

A Section 8 Company can be formed by a person or an association of persons making an application including all the forms to form a company to the Registrar of Companies. After the filing of the application, the Central Government (if satisfied) will accept the application and grant the license according to any terms and conditions of the same. The company will be registered after all the requisite payments have been made by the applicant. Once the company is formed, it is not required to include the words ‘’Limited or ‘’Private Limited’’ in their names as all other companies have to.

Cancellation of License:

The Company’s license can be revoked on the following grounds:

  • In case of contravention of Section 8
  • If the terms of the license are violated.
  • When its own objectives and public policy are violated.
  • In case of any fraudulent conduct.

Before passing any such orders, the Government is required to hear the company.

Winding Up:

A Section 8 Company can be wound up voluntarily or under the order of the Central Government.In case any assets remain after satisfaction of debts and liabilities during the time of winding up then the assets can be transferred to a similar company by the order of the National Company Law Tribunal. It can also order the company to sell the assets and the money for this sale to be credited to the Insolvency and Bankruptcy Fund.

Privileges and Exemptions under Section 8 Company:

Section 8 companies provide various advantages to the people who want to conduct charitable activities. Following are the privileges and exemptions a person may get from a Section 8 Company:

  1. Section 8 Companies provide various tax exemptions, specially to the donors contributing to the charitable activities as they have the right to claim the Tax exemption against the donation they made to a Section 8 Company.
  2. It provides exemption on the payment of the stamp duty at the time of registration of the company under Section 8.
  3. To start a Section 8 Company no minimum paid up capital is required but the capital structure can be altered in future according to the growth of the company.
  4. It has its own separate identity from its members and also has a perpetual existence.
  5. Section 8 Company is known for its credibility as compared to the NGOs  as it is licensed under the supervision of the Central Government. The company has a strict regulation therefore no change can be made in MOA and AOA at any stage or situation of the Company.

As a Section 8 Company is known for its strict regulation and provides greater satisfaction to the people involved in charitable activities, it is most reliable in comparison to the other legal structures. Team Delfyle wishes you the very best of luck for your amazing journey ahead. In case of any further queries, feel free to get in touch with us at info@delfyle.com for a chat, absolutely free of cost!

What is a Public Limited Company?

A public limited company is a company limited by its shares and is governed by the Company Act of 2013. It provides shares to the general public.The benefit of Public Limited Company is that it can provide stocks to anyone either privately through initial public offering or via trades on the stock market. Its shares are traded in fixed deposits. Its features are similar to a private limited company and it also provides more transparency when it comes to the transfer of shares.

Characteristics of a Public Limited Company:

Directors:

According to the provision of the companies Act, 2013 it is important to have a minimum of 3 directors to start a private limited company.There is no restriction on the maximum number of directors.

Limited Liability:

The shareholders’ liability is limited and therefore a shareholder of a public limited company cannot be held responsible for any loss or debts of the company.

Paid-up capital:

The minimum capital to start a public limited company is 5 lacs INR or a higher amount as prescribed under the act.

Name:

The public limited company must add the word ‘’limited’’ after their name. It is a compulsory requirement under the Companies Act, 2013.

Why choose to opt for a Public Limited Company:

There are many advantages that a Public Limited Company provides:

  • More capital as shares are offered to the general public in large amounts. Anyone can invest in a public limited company due to which capital investment of the company gets improved.       
  • Public Limited Company helps in resulting better business opportunities as it is listed on the stock market. This ensures that mutual funds, hedge funds and other traders take note of business of the company.
  • The risk is less as the shares are sold out to the public at large, hence the risk of the market is spread out.
  • Due to less risk, it gives you the perfect opportunity to expand the business which in turn ensures growth as you can invest in new projects from the money raised through shares.
  • If you are looking for a voluntary association and want to have stability in your business then a Public Limited Company can provide you with both. It has a separate legal existence and also has features similar to a Private Limited Company.
  • Since a Public Limited Company is a platform to generate capital from external sources, it is less risky and also supplies higher growth and comprehensive possibilities to a large organization.

Team Delfyle wishes you the very best of luck for your amazing journey ahead. In case of any further queries, feel free to get in touch with us at info@delfyle.com for a chat, absolutely free of cost!

What is a Private Limited Company?

A Private Limited company is simply a company which is limited by its shares and is incorporated under the Companies Act, 2013. The minimum paid up capital is 1 lac with an article that limits the transfer of its shares. The group of members which owns it is known as shareholders. It is beneficial for startups and businesses having scope for higher growth and is known for its comfortable business structure.

A Private Limited Company is governed by the Ministry of Corporate Affairs, widely known as MCA. Its definition is provided under the Section 2(68) of the Act which defines it as:

A Company having a minimum paid-up share capital as may be prescribed, and which by its articles,—

(i) restricts the right to transfer its shares;

(ii) except in case of One Person Company, limits the number of its members to two hundred;

(iii) prohibits any invitation to the public to subscribe for any securities of the company.

Features:

Members: To start a Private Limited Company, a minimum of 2 members are required which can be extended to a maximum of 200 members.

Perpetual Succession: Death, insolvency or the bankruptcy of any of its members does not affect the existence of the company which makes it suitable for perpetual succession.

Index of members: A Private Limited Company is free from maintaining the index of its members.

Directors: With a minimum of two and a maximum of two hundred directors, the company may carry out its operations.

Paid up capital: As mentioned above the paid up capital to start a private limited company is 1 lakh or such higher amount which may be prescribed from time to time.

Name: It’s compulsory for the private companies to use the word private limited after its name.

Examples of Private Limited Company:

Generally all venture capital-funded companies are Private Limited Companies nowadays for instance: Amazon, Snapdeal, Ola, BookMyShow, Pepsi India and Jabong. 

When should I opt for a Private Limited Company?

A Private Limited Company is considered to be a common concept for a private business entity. According to statistics, almost 93% of the companies in India are incorporated as Private Limited Companies. There must, therefore, be certain advantages when it comes to choosing a Private Limited Company over other kinds of companies. Following are some such advantages:

  • Separate Legal Entity: It provides a separate legal entity from its members which essentially means that the company can get involved in contracts and legal proceedings in its own name. It also makes sure that the company’s status is unaffected in case of any change in members and management.       
  • Managerial Board: The Board of Directors provides benefits to the members interested in investing.                     
  • Funding capacity: The Private Limited Company provides various options of funding in the form of private equity, ESOP and more. It can also accept deposits from the public and is therefore mostly preferred by venture capitalists, angel investors and other external funding agencies.                   
  • Free and easy transfer of shares: It provides an easy transfer of shares as compared to an OPC,a sole proprietorship or a partnership.

Here’s hoping you now have some perspective over choosing the Private Ltd Structure for your business! Team Delfyle wishes you the very best of luck for your amazing journey ahead. In case of any further queries, feel free to get in touch with us at info@delfyle.com for a chat, absolutely free of cost!

Registering a patent in India.

The whole point of patent and patent registration is to encourage more and more people to come out with inventions, big or small, so that it can provide the inventor with exclusive rights for a limited duration. Without any such patent rights, the possibility of the invention will diminish as there will be more chances of it being exploited. The patent includes the procedure or a method of the invention, be it art, a particular apparatus, machine, computer software, technical application, chemical or drugs.

Patent Registration in India:

The registration of the patent will grant the owner or the inventor the full freedom of the product. The owner will be allowed to use, sell or import the product and registration will prohibit others from copying it. The patents in India are governed by the Patent Act, 1970 and Patent Rules 1972 which provides exclusive rights to use the patent for 20 years.

Registration of patent is done in two ways which include provisional and complete filing of the application under Form 2 of the same.

According to the Indian Patent Act Invention is defined as follows:

Invention means any new and useful:

  1. i)    Art, process, method or manner of manufacture,
  2. ii)    Machine, apparatus or another article,

iii) Substance produced by the manufacture and includes any new & useful improvement of any of them.

Essentials to determine whether an invention is patentable or not:

  1. The primary and most important feature to qualify as a patent is that it should be novel and not be a part of any existing art.
  2.  The patent should be the outcome of inventive activity and not easy for a layman to come up with a similar product.
  3.  The step of the invention should be innovative and not apparent.
  4. The patent should have utility
  5. It should not be contrary to the law and to morality.

Summary of Provisional Patent Registration:

What is a Provisional Patent Registration:

Provisional Patent Registration is an initial step of filing the patent application. It includes the specification and basic procedure of the patent. If a person wants to register a patent but does not have a complete design or method that is patentable, the person may opt for provisional Patent Registration to secure their work.

 

Benefits of Provisional Patent:

  • Cost-beneficial
  • Sets Priority Rights over the Patent
  • Secure the worth of Invention
  • Provides extra time to make further changes.
  • Monetary Returns

       

       Document required for Provisional Patent Filing:

             – Title

             –  Information of the Applicants

             –  Description of the patent

             – Technical aspect involved in the Invention

Why registration of the Patent is important:

  • Registration of patents gives the right to own the patent.
  • It uplifts the interest of the business as it promotes the patent holder to ascribe a premium for the invention.
  • A patent is treated as property, therefore, it can be licensed or sold to any other person.
  •  It also protects the patent from being copied.   The patent owner can only permit other people regarding the use of patent according to the terms and condition of the same.
  • The credibility will be provided to the patent holder once the patent is registered.
  • In case of any infringement or violation, it gives the right to bring the suit against the third party.
  • Improves market credibility of the patent holder.

Stages of the Patent Process in India:

  • The first stage is to the filing of the application for grant of the patent. (Form 1)
  • The application will be further classified into the provisional or complete specification. (Form 2)
  • The third step is only done in India where the statement is undertaken under Section 8 of the Act. (Form 3)
  • The Declaration certificate is granted as to inventorship. (Form 5)
  • Forms to be submitted only by start-ups and small entities. (Form 28)


The patent law in India grants royalty in the form of exclusive rights provided to the patent holders, also it acts as a mechanism for the Government to use the patented inventions under certain circumstances. It promotes and uplift the inventors to increase the invention and also attract more beginners to the market. Team Delfyle wishes you the very best of luck for your amazing journey ahead. In case of any further queries, feel free to get in touch with us at info@delfyle.com for a chat, absolutely free of cost!

A One Person Company or a Sole Proprietorship: What do I choose?

  • If you’re a new entrepreneur and wish to run a business without seeking anyone’s help and have complete control over all operations of the business, it may be worthwhile for you to get registered under a One Person Company. This provides you the opportunity to be a 100% stakeholder of that company which would then be a separate legal entity. However, if you do choose to get registered as a Sole Proprietor the business would not be a legal entity separate from you.
  • As an entrepreneur if you wish to avoid getting into any trouble with litigation and liabilities, then a One Person Company will provide you a platform to run a company by restricting your contribution of liabilities. In a Sole Proprietorship, the owner’s liability is unlimited and in case of any loss the owner is liable for all of it.
  • Getting registered under a One Person Company would mean that your tax will be determined according to the Income Tax Act whereas in a Sole Proprietorship the owner’s income will be taxed as an individual’s income.
  • Another advantage of an OPC is that the existence of the company doesn’t have a dependence on the demise of the fellow members  and is therefore known for perpetual succession whereas in the case of a sole proprietorship the dismissal of the heir leads to complete closing down of the company.

Team Delfyle wishes you the very best of luck for your amazing journey ahead. In case of any further queries, feel free to get in touch with us at info@delfyle.com for a chat, absolutely free of cost!

What to choose: A one person company or a private limited company?

As a fresh entrepreneur if you are lost and concerned about the early financial needs of your business, the following points might help you out.

 A one person company and a private limited company are both governed by the Companies Act of 2013.

  • There is no mandatory requirement for minimum paid up capital in an OPC. If the company’s paid-up capital exceeds 50 lacs, then the OPC shall automatically be converted into a Private Limited Company.              
  • If you wish to run the business with full control and independence, it is better to opt for an OPC as it requires a minimum and maximum of 1 member to run the business. However, if you want your company to be funded at the developing stage, then you may opt for a Private Limited Company as it requires a minimum of  2 members and can have a maximum of 200 members.     
  • After 2 years of incorporation of the OPC, it can get converted into Private Limited Company when its turnover exceeds the threshold limit.   
  • If you want your company to explore non-banking financial activities or securities investment, it is wise to know that an OPC doesn’t promote such activities. A Private Limited Company, however, can provide you with a platform to operate such activities with the permission of the concerned authorities.           

There should be no doubt regarding the annual filing of the company. Therefore, an OPC’s financial statement and annual report need to be filed with the registrar whereas in case of a Private Limited company the annual report needs to be filed with the ROC.

  • If you’re unclear about the transferability of shares in case of OPC, then the shares can be transferred only by altering the Memorandum of Association whereas if you’re looking for easy transferability then go for Private Limited Company as shares can easily be transferred in this case.                
  • When it comes to the compliance of both the companies, OPC cost is lesser as compared to a Private Limited Company.                   

Team Delfyle wishes you the very best of luck for your amazing journey ahead. In case of any further queries, feel free to get in touch with us at info@delfyle.com for a chat, absolutely free of