An entrepreneur in India or abroad has many options to seed money to start a new business. Generally for funding, they approach banks to take a loan or offer equity shares in return of investments from angel investors or venture capital investors. When these options are not available, entrepreneurs have option to use crownfunding. Crowdfunding by definition is a practice of … [Read more...] about What is crowdfunding and how does it benefit startups
Archives for February 2015
How pyramid scheme works as financial crime
As the name indicates, pyramid scheme is structured like a pyramid with the initial recruiter on the top of the pyramid. Initial recruiter recruits a second person who needs to invest certain amount to get enrolled. Out of the enrolled money a fixed percentage will be paid to the initial recruiter for having one investor under him. Now the second person will be eligible for … [Read more...] about How pyramid scheme works as financial crime
What is Ponzi scheme and how Ponzi Scheme works
Ponzi Scheme is designed to convince investors to place their hard earned money into a fraudulent investments scheme to get higher returns in future with little or no risk. Ponzi Scheme are generally designed in such a way that they will gather all relevant funds from the new investors and then distribute them to the old existing investors for whom payment was due. This … [Read more...] about What is Ponzi scheme and how Ponzi Scheme works
How CA firms are selected as statutory auditor of PSUs or Statutory Corporations
To get selected for audit of public sector undertakings (PSUs) or statutory corporations, CA firm with basic eligibility has to first empanel with comptroller and auditor general (CAG) of India. CA firms or LLPs in India can apply for empanelment with the office of CAG for allotment of PSU audits if they have at least one full time FCA as a partner. If the CA firm is a … [Read more...] about How CA firms are selected as statutory auditor of PSUs or Statutory Corporations
How long it takes to register a private limited company in India
To know, how long it takes to register a private limited company, we need to first look into the actual business days required in each step of company incorporation process and practical difficulties faced during the process. Private limited company registration starts with getting director identification number and ends with obtaining certificate of … [Read more...] about How long it takes to register a private limited company in India
Empanelment of CA firms with CAG for the year 2016-2017
A chartered accountant firm and chartered accountant limited liability partnerships (LLPs) in India can apply for empanelment with the office of Comptroller and Auditor General or CAG of India for allotment of audit of Public Sector Undertakings or Statutory Corporations for the year 2016-17. Even state government departments will be asking for CAG empanelment letter while … [Read more...] about Empanelment of CA firms with CAG for the year 2016-2017