
The Food Safety and Standards Authority of India (FSSAI) has been constituted by the Ministry of Health & Family Welfare with a stringent visualisation to implement FSS act on food business activities. FSSAI was formed to keep a single point of contact for all the food operators. The role & responsibility of FSSAI is to make sure that all food related laws are being followed by food business operators.
FSSAI has defined a common procedure for all food operators to apply for applicable food License. FSSAI license/registration has three categories. An FBO can identify the required license type basis on its business category & turnover.
Private Limited Company, is the best corporate structure to start your own business. It can be registered with minimum two members and maximum with two hundred members. The private limited company is juristic, and the liability of members is limited to their shares. The private limited company can be registered within 10 days. A private limited company must hold board meeting and file annual returns with MCA (Ministry of Corporate affairs). Private limited company has more credibility than an LLP or General Partnership. Venture capitalist and Angel investor prefers to invest in a private limited company. Approximate every year, more than 100,000 companies registered India.
The Real Estate (Regulation and Development) Act, 2016 provides for establishing regulatory authorities at the state level to register residential real estate projects and seeks to regulate contracts between buyers and sellers in the real estate sector to ensure sale of plot, apartment or building, etc. in an efficient and transparent manner. It also proposes to ensure greater accountability towards consumers, and significantly reduce frauds and delays as also the current high transaction costs. By imposing certain responsibilities on consumers and promoters, it attempts to balance the interest of both. It seeks to establish ease of information between the promoter and purchaser, high level of transparency of contractual conditions, set minimum standards of accountability and a fast track dispute resolution mechanism.
Prepaid Payment Instruments, also known as PPIs, are the payment instruments which facilitates the goods and services transactions conducted by the consumer, including financial services, remittance facilities etc., against the value stored on such instruments. The PPIs have emerged as a smart and convenient method of initiating cashless transaction in the recent times where the country has experienced a whole lot of cash crunch. It is an effective way of payment carried out it transparency, scalability and accountability.
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