NBFC is incorporated under the Companies Act and its activities are governed by RBI.

An inventor who has filed an application in India and wants to get the patent in other countries as well can file a corresponding application for the same invention in conventional countries or under PCT.

Prepare audit reports An internal auditor should prepare and submit the audit report and audit follow-up from time to time as it determines the status of the company’s governance in terms of finances, operations and administration.

Effective governance- It ensures effective governance in the working of the company by safeguarding its position and minimizing the possibility of penalties and losses.

  Scope of Secretarial Audit  It is defined as per Form M-3.R which requires secretarial auditors to examine and report in compliance with, specifically, five statutes:  • The Companies Act, 2013 and the rules made thereunder;  • The Securities Contracts (Regulation) Act, 1956 and the rules made thereunder;  • The Depositories Act, 1996 and the Regulations and Bye-laws framed thereunder;  • The Foreign Exchange Management Act, 1999 and the rules and regulations made thereunder to the extent of Foreign Direct Investment, Overseas Direct Investment, and External Commercial Borrowings;  • The Securities and Exchange Board of India Act, 1992 and the Regulations and guidelines made thereunder.

The Reserve Bank of India (RBI, herein called “the bank) shall grant NBFC Certificate of Registration (CoR) to such companies, who make an application to the RBI for obtaining such certificate and comply with all the guidelines as prescribed in this regard.

When investment is done in an Indian company by an entity/a person based outside India is termed as Foreign direct investment (FDI).

Concept of AGMARK: AGMARK means a mark of certification on agricultural products in India.

How is the convention application filed in India?

India is one of the signatories to the World Trade Organization, which levies exceptions and limitations to patent rights in compliance with Article 30 of the TRIPS.