What is Agmark ?
The Food Safety and Standards Authority of India (FSSAI)
What is BIS ?
Bureau of Indian Standards (BIS) is the National Standards body of India, functioning under the aegis of Ministry of Consumer Affairs and Public Distribution, Government of India. BIS has published more than 18000 Indian Standards (IS) and Priced Publications (PP) which are presently available for sale. Every year, more than 300 new standards and 300 amendments are published.
A joint venture takes place when two parties come together to take on one project. In a joint venture, both parties are equally invested in the project in terms of money, time, and effort to build on the original concept. While joint ventures are generally small projects, major corporations also use this method in order to diversify. A joint venture can ensure the success of smaller projects for those that are just starting in the business world or for established corporations. Since the cost of starting new projects is generally high, a joint venture allows both parties to share the burden of the project, as well as the resulting profits.
Since money is involved in a joint venture, it is necessary to have a strategic plan in place. In short, both parties must be committed to focusing on the future of the partnership, rather than just the immediate returns. Ultimately, short term and long term successes are both important. In order to achieve this success, honesty, integrity, and communication within the joint venture are necessary.
AGMARK is a certification mark employed on agricultural products in India, assuring that they conform to a set of standards approved by the Directorate of Marketing and Inspection, an agency of the Government of India.[1][2][3][4][5][6] The AGMARK is legally enforced in India by the Agricultural Produce (Grading and Marking) Act of 1937 (and amended in 1986).[1] The present AGMARK standards cover quality guidelines for 205 different commodities spanning a variety of Pulses, Cereals, Essential Oils, Vegetable Oils, Fruits & Vegetables, and semi-processed products like Vermicelli.
What is FSSAI ?
The Food Safety and Standards Authority of India (FSSAI)
has been established under Food Safety and Standards Act, 2006 which
consolidates various acts & orders that have hitherto handled food related
issues in various Ministries and Departments. FSSAI has been created for laying
down science based standards for articles of food and to regulate their
manufacture, storage, distribution, sale and import to ensure availability of
safe and wholesome food for human consumption.
What is BIS ?
Bureau of Indian Standards (BIS) is the National Standards body of India, functioning under the aegis of Ministry of Consumer Affairs and Public Distribution, Government of India. BIS has published more than 18000 Indian Standards (IS) and Priced Publications (PP) which are presently available for sale. Every year, more than 300 new standards and 300 amendments are published.
Public Limited Company: A public limited company
is a voluntary association of members which is incorporated and,
therefore has a separate legal existence and the liability of whose
members is limited. Its main features are :-
- The company has a separate legal existence apart from its members who compose it.
- Its formation, working and its winding up, in fact, all its activities are strictly governed by laws, rules and regulations. The Indian Companies Act, 1956 contains the provisions regarding the legal formalities for setting up of a public limited company. Registrars of Companies (ROC) appointed under the Companies Act covering the various States and Union Territories are vested with the primary duty of registering companies floated in the respective states and the Union Territories.
- A company must have a minimum of seven members but there is no limit as regards the maximum number.
- The company collects its capital by the sale of its shares and those who buy the shares are called the members. The amount so collected is called the share capital.
- The shares of a company are freely transferable and that too without the prior consent of other shareholders or without subsequent notice to the company.
- The liability of a member of a company is limited to the face value of the shares he owns. Once he has paid the whole of the face value, he has no obligation to contribute anything to pay off the creditors of the company.
- The shareholders of a company do not have the right to participate in the day-to-day management of the business of a company. This ensures separation of ownership from management. The power of decision making in a company is vested in the Board of Directors, and all policy decisions are taken at the Board level by the majority rule. This ensures a unity of direction in management.
- As a company is an independent legal person, its existence is not affected by the death, retirement or insolvency of any of its shareholders.
A joint venture takes place when two parties come together to take on one project. In a joint venture, both parties are equally invested in the project in terms of money, time, and effort to build on the original concept. While joint ventures are generally small projects, major corporations also use this method in order to diversify. A joint venture can ensure the success of smaller projects for those that are just starting in the business world or for established corporations. Since the cost of starting new projects is generally high, a joint venture allows both parties to share the burden of the project, as well as the resulting profits.
Since money is involved in a joint venture, it is necessary to have a strategic plan in place. In short, both parties must be committed to focusing on the future of the partnership, rather than just the immediate returns. Ultimately, short term and long term successes are both important. In order to achieve this success, honesty, integrity, and communication within the joint venture are necessary.
Private Limited Company
A private limited company is a
voluntary association of not less than two and not more than fifty members,
whose liability is limited, the transfer of whose shares is limited to its
members and who is not allowed to invite the general public to subscribe to its
shares or debentures. Its main features are :-
- It has an independent legal existence. The Indian Companies Act,1956 contains the provisions regarding the legal formalities for setting up of a private limited company. Registrars of Companies (ROC) appointed under the Companies Act covering the various States and Union Territories are vested with the primary duty of registering companies floated in the respective states and the Union Territories.
- It is relatively less cumbersome to organise and operate it as it has been exempted from many regulations and restrictions to which a public limited company is subjected to. Some of them are :-
- it need not file a prospectus with the Registrar.
- it need not obtain the Certificate for Commencement of business.
- it need not hold the statutory general meeting nor need it file the statutory report.
- restrictions placed on the directors of the public limited company do not apply to its directors.
- The liability of its members is limited.
- The shares allotted to it's members are also not freely transferable between them. These companies are not allowed to invite public to subscribe to its shares and debentures.
- It enjoys continuity of existence i.e. it continues to exist even if all its members die or desert it.
