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6 tips for Start up Fundraising

India not only has over 100 unicorns but is also ranked third for the number of start ups, right after the US and China. For any start up to scale and grow, funds are most critical. For this many start ups turn to fundraise.

However, do you know what are the top points founders should keep in mind before going for fundraising?

Well, we have got you covered! Learn the 6 Tips for Start up Fundraising with Surabhi Agarwal, Founder and Fractional General Counsel at The Global General Counsel.

Surabhi very succinctly takes us through the top 6 tips that start ups should keep in mind while going for fundraising.

So what are you waiting for? Tune in now to watch the full feature only on LawWiser!

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Obligations for MSME and Qualifying Criteria

The micro, small, and medium enterprises development act of 2006 (MSMED) is a single comprehensive act for the development and regulation of micro, small and medium enterprises (MSME). 

Tune into the LawWiser premium video on “Obligations for MSME and Qualifying Criteria” by Ojasvi Dhamija.

In the video, Ojasvi shares certain obligations that need to be fulfilled to be registered as MSME, under the prescribed MSMED Act.

Previously, MSMEs were required to obtain multiple registrations under different registration windows to receive various benefits. However, the government has recognized this problem and introduced a single-window registration system known as Udyog Aadhar (UA) registration.

Watch the full video to grab useful insights about the documentation process required for registration. 

#msmeindia #msme #startup #publiccompany #privatecompany #msmeregistration #companiesact2013 #enterprises #compliances #corporatecompliance #legalknowledge #legalcommunity #law #legaldocuments #msmes #legalcompliance 

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Ban on single-use plastic

The Ministry of Environment, Forest and Climate Change, Government of India, has notified the Plastic Waste Management Amendment Rules, 2021.

Pollution caused by single-use plastic objects has become a major environmental issue that all countries are grappling with. India has pledged to take steps to reduce pollution caused by discarded single-use plastics. 

Tune into LawWiser premium video on “Ban on single-use plastic” featuring Ojasvi Dhamjia briefly explaining the guidelines mentioned in Plastic Waste Management Rules 2016.

According to the Plastic Waste Management Rules, 2016, the plastic packaging waste that is not covered by the phase-out of identified single-use plastic items must be collected and managed in an environmentally sustainable manner.

As per the given information, State/UT Governments, as well as key central ministries/departments, have been asked to produce a comprehensive action plan for the elimination of single-use plastics.

Subscribe to LawWiser premium for more such knowledgeable content.

#plastic #wastemanagement #climatechange #management #environement #singleuseplastic #stategovernment #msmes #msmeindia #startup #legalawareness #legalknowledge #legalnews #premium #plasticwastemanagement #legal 

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‘ECLGS’ – Emergency Credit Linked Guarantee Scheme

The ECLGS aims to provide 100 percent guaranteed coverage to the banks, non-banking financial institutions (NBFC’s), and other lending institutions to enable them to extend emergency credit. Over time it has evolved into three different versions ECLGS 1.0, ECLGS 2.0 and ECLGS 3.0.

Tune into the #LawWiser premium video on “ECLGS Scheme” where Prabhjot briefly analyzes the features of this scheme.

In the Video, He tells us that the scheme will ensure that loans are quickly sanctioned under this facility as the lenders have the Central government guarantee in case of default against these loans. It also includes that the processing charges, foreclosure, and prepayment charges will be waived.

He also says that the scheme provides loans will be given in the form of additional working capital term loan facility (in case of banks and financial institutions) and additional term loan facility (in case of NBFCs) from all Member Lending Institutions (MLIs) to eligible business enterprises/MSMEs.

#emergency #credit #guarantee #scheme #msme #msmeindia #nbfc #loans #travel #tourism #startup #compliance #collateral #compliancesolutions 

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Mandatory Registration for MSME

Is it mandatory for MSMEs to get register under the Micro, Small and Medium Enterprises Development Act, 2006? 

Watch LawWiser video on Mandatory Registration for MSME with Avani Shukla, Lawyer & Growth and collaborations at lawWiser.

She helps us understand this with the help of important case law- M/s Silpi Industries Etc. v. Kerala State Road Transport Corporation & Anr. 

She explains brief facts of the case and supreme court observations. 

The SC’s observations on registration only prospectively conferring benefits under the MSMED Act have started a significant debate in the country. 

The issue is of major concern as there are many unregistered MSMEs in India as compared to registered MSMEs and thus the impact is at large. 

Stay tuned for more such updates!

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RBI Directions for Microfinance Loans, 2022

The Reserve Bank of India has instructed all the regular entities lending to the microfinance sector to ensure that the loans are collateral-free and not protected by a lien on the borrower’s deposit account. 

Tune into the #LawWiser premium video on “RBI Directions for Microfinance Loans, 2022” featuring Prabhjot Singh briefly explaining the directions given by RBI.

In the video, Prabhjot tells us that the Reserve Bank of India has eliminated the margin caps that were previously solely applicable to non-banking finance businesses. 

The collateral loans offered to low-income households, i.e., households with an annual income up to $3 lakh, will now be termed “microfinance loans”. 

He shares that there must be a RE board-approved policy that brings flexibility to the payback period.

Interest rates on all three levels, i.e., minimum, maximum, and average on the microfinance loans must be informed in all RE offices.

RE or its agent will not utilize punitive recovery measures. 

To learn more about these RBI directions, watch the full video.

#rbi #rbipolicy #collateral #loans #microfinance #borrowers #nbfc #business #finance #recovery #payback #interestrates  #msme #startups #compliance #msmeindia  

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Draft Food Safety and Standard (Food Products Standards and Food Additives) Amendment Regulations, 2021

Recently there were two main amendments made in the Food Safety and Standard (Food Products Standards and Food Additives) Regulations. 

  1. The Food Safety and Standards Authority of India (FSSAI) has issued the Draft Food Safety and Standards (Food Products Standards and Food Additives) Amendment Regulations, 2021 on December 27, 2021. 

Authority of India

  1.  FSSAI has also issued a draft notification on Food Safety and Standard (Food Products Standards and Food Additives) Amendment Regulations, 2021. 

Watch LawWiser video on Draft Food Safety and Standard (Food Products Standards and Food Additives) Amendment Regulations, 2021 with Avani Shukla, Lawyer & Growth and collaborations at lawWiser.

Stay tuned for more such updates!

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National Automobile Scrappage Policy (Key Features)

In India, on an average approx. 12 billion new vehicles are added annually that spew noxious pollutants and at the same time huge number of automobiles are becoming old which further accelerates the growth of pollution.  

One of the major highlights of Union Budget 2021-2022 was the announcement of vehicle scrappage

policy.

The policy aims to create an environment friendly ecosystem by elimination of unfit and polluting

vehicles. The intention behind implementation is also to promote and encourage cleaner emissions,

fuel emissions and better safety. It is important policy as older vehicles pollute the environment 10-

12 times more than normal vehicles.

Watch LawWiser video on National Automobile Scrappage policy with Avani Shukla, Lawyer & Growth and collaborations at lawWiser. In this video, Avani will help you understand what does this policy means and its significance?

She will help us understand key features of National Automobile Scrappage policy. 

Stay tuned for more such updates!

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Understanding MSME and SME

We have often heard terms like MSME and SME around us. But do we understand what is the meaning of these terms appropriately?

Watch LawWiser video on Understanding MSME and SMEs with Avani Shukla, Lawyer & Growth and collaborations at lawWiser. In this video, Avani will help you understand what does MSME and SME means?

She talks about act enacted by the Government of India called- Micro, Small, and Medium Enterprises Development (MSMED) Act, 2006. This is to assert importance and priority to this particular sector in the country. She helps us understand why this sector is given such importance ?  

She further shares some interesting facts about the MSME and SME’s.

The Government of India has envisioned doubling the Indian economy to US$ 5 trillion in five years. Therefore, a lot of recent developments and amendments are made associated to align with these policies, and we will be covering a lot these policies in our upcoming videos.  

So, don’t forget to- watch our upcoming videos to know more about MSMEs and more insights relating to it. 

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Understanding the Need for National Logistics Policy

The Indian logistics sector employs more than 22 million people, and upgrading the sector will result in a 10% reduction in indirect logistics costs, resulting in a 5 to 8% increase in exports. The proposed National Logistics Policy (NLP) aims to streamline and develop India’s logistics industry, promote a smooth flow of products across the country, and make it easier for firms in the sector to conduct business.

Watch #LawWiserPremium video on “Understanding the Need for National Logistics Policy” by Prabhjot Singh.

Watch Prabhjot share about challenges faced by the policy and ways to overcome them. As per  a report by the Ministry of Commerce and Industry, the policy, would essentially enable “closer coordination with the logistics division.”

The fundamental importance of the logistics industry, was demonstrated powerfully during the statewide lockdown imposed last March due to the COVID-19 outbreak. The Indian logistics market is projected to be worth $215 billion, with a CAGR of 10.5 per cent. Organized players, on the other hand, own just 10-15% of the whole market. However, it faces challenges like goods are taking longer to reach their desired location due to infrastructure issues and a lack of streamlined processes.

The experts in this sector are of the view that additional facets of NLP, such as standardization, informalisation, digitalization, and being more competitive in the worldwide market, in addition to reducing waste and expense. The strategy is expected to improve integration of local and international supply chains.

#logisticsnews #supplychain #policy #infrastructure #commerce #supplychainmanagement #exports #imports #standardization #digitization #governmentofindia #ministryofcommerce # #logisticsnews 

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