Advocate Sristi Nimodia

Questions Answered by Advocate Sristi Nimodia (25+ answers)

Q: Private Equity Funds Procedure and Restrictions

What disclosure requirements and restrictions may apply throughout the investment process, for both the venture capital investor and the prospective portfolio company?What is the process and what (corporate) approvals are required for a portfolio company to issue shares or debt instruments to investors in your jurisdiction?

Advocate Sristi Nimodia answered
A venture capital investor is a person or entity who provides money to startups or growing businesses either by buying shares or through debt instruments like convertible debentures which act like loans but can later be converted into shares instead of repayment in cash Under the Companies Act 2013 when a company raises capital through private placement it must make full disclosures to the government and investors including issuing an offer letter in Form PAS 4 explaining the purpose use of funds business details and financial status After allotment the company must file Form PAS 3 within 30 days with the Registrar of Companies If shareholder approval is required an explanatory statement must be circulated to them For listed companies SEBI regulations must be followed including rules on pricing lock in periods and disclosures Legal compliance includes Section 42 limiting placements to 200 persons in a financial year Section 62 requiring valuation by a certified professional and FEMA for foreign investors Companies must issue shares at fair market value and report receipts using Form FC GPR within 30 days Investment in restricted sectors like atomic energy or gambling is prohibited Board and shareholder approval by special resolution is necessary Existing investors with rights like pre-emption or tag along may need to consent Stamp duty register maintenance and SBO disclosure rules also apply For debentures if they qualify as external commercial borrowings RBI guidelines must be followed and NCLT approval may be needed if rights are affected

Q: GST RECOVERY CASE FILE AGAINST LISTENLIGHTS COMPANY

I NEED A GOOD PRACTICING LAWYER TO FILE A CASE IN GST OFFICE AND COURT OF LAW FOR APPEALS MATTER REGARDING GST RECOVERY. , I AM READY TO PAY HANDSOME FEES AND ALL CHARGES JUST TO CLOSE MY RECOVERY PROCEEDING AND SUIT FILING. FEEL FREE TO CALL AT ANY TIME +91 9967923625, +91 7039564361

Advocate Sristi Nimodia answered
To reply to a GST notice log in to the GST portal go to View Notices and Orders download the notice prepare a reply with supporting documents like invoices ledgers challans and legal points and submit it with an e-signature Keep a copy for records For appeals reply in writing request a hearing or file an appeal within 90 days using Form GST APL01 with a 10 percent predeposit If the tribunal is not functional file a writ in High Court or Supreme Court Include all relevant documents like the notice returns invoices payment proofs and prior correspondence

Q: Legal Image Use – Quick Questions

Hi, I run an entertainment site called PlotWit. I need legal clarity on: 1. Using Creative Commons images with credit 2. Using celebrity Instagram photos in posts/web stories 3. Fair use of YouTube trailer screenshots 4. Using posters from BookMyShow 5. Monetizing CC image-based web stories 6. Image use from Fandom/Wikimedia/Flickr 7. Should I keep source/license records?Thanks,PlotWit Team

Advocate Sristi Nimodia answered
Running an entertainment website like PlotWit is exciting but requires a clear understanding of copyright laws in India. Misuse of content, even unintentionally, can result in legal issues. When using Creative Commons images, it is important to check the license type. Attribution must be given, and conditions such as non-commercial use or no modification must be followed. Do not use non-commercial images if your site is monetized. Avoid editing images that do not allow derivatives.Celebrity photos from Instagram should not be downloaded or edited. Use the embed feature without making changes. YouTube trailer screenshots may be used under fair dealing for reviews, critiques, or news, but use them sparingly and only when contextually relevant. Do not use them simply for decoration.Avoid using posters from platforms like BookMyShow as they typically do not have redistribution rights. Instead, use official press kits or obtain permission directly from content owners. Be cautious with images from sources like Fandom or Flickr unless licensing is clearly stated. Keep records of all image sources, licenses, download dates, and attribution formats.Being careful with content use helps ensure your website remains legally compliant. When in doubt, use trusted sources or seek explicit permission to avoid complications.

Q: I want street vending liscience for my busneiss

I want street vending liscience my father was a street vendor for past 20year so I want to run busneiss legally

Advocate Sristi Nimodia answered
STREET VENDING LICENSE – APPLICATION PROCESSEligibility Criteria:Applicant must be 14 years or older.Must be identified through a survey conducted by the Town Vending Committee (TVC).Must submit an undertaking confirming:The business will be conducted by self or family member.No other source of livelihood exists.Certificate of vending will not be transferred.Required Documents:Identity Proof: PAN Card / Aadhaar Card / Voter ID / PassportAddress Proof: Utility bill / Lease agreement / Ownership documentBusiness Registration Proof (if applicable)Undertaking regarding livelihood and non-transfer of certificateCertificate and identity card will be issued as per vending category:Stationary VendorMobile VendorOther specified categoriesApplication Procedure:1. Survey & Registration:Register with the Town Vending Committee (TVC) during their survey. Submit all required documents.2. Certificate of Vending:Issued after registration. Specifies vending zone, type of vending, and terms of operation.3. Vending Fees:Payable based on vending category. Rates may vary across cities.4. Validity & Renewal:Certificates are valid for a specific period and can be renewed under TVC guidelines.Additional Approvals (if applicable):FSSAI License (for food vendors):Basic: Revenue below ₹12 lakhs/yearState: ₹12 lakhs to ₹20 crores/yearCentral: Revenue above ₹20 crores/yearGST Registration:Required if business turnover exceeds the GST threshold.Important Notes:No vendor will be evicted or relocated until the survey is completed and vending certificates are issued.The TVC will publish a Vendor’s Charter detailing timelines for issuing and renewing vending certificates.