Domiyance Finance Consultancy LLP
The documents necessary for the application have to be collected and sorted accordingly to ensure quick and smooth processing of the application, which will, in turn, speed up the process of obtaining the license. The documents related to the various registration and details of the directors and promoters have to be legit and in an acceptable format to avert any discrepancy. Once the required documents are arranged, the application can be filed electronically on the official portal. The presence of the digital signature makes the registration process seamless and hassle-free.
The applicant must enter into a Memorandum of Understanding (MOU) with a certified training institute. The list of the eligible institute is available on the government official portal. These institutes shall provide the required training to the selected candidates. Ex-servicemen have access to a certain degree of relaxation concerning the training aspects of the agency.
Once all the above steps are fulfilled, the applicant must file the application (Form-I) with the respective state authority. The said form must be attested with Form-II (application for verification of antecedents). Affidavit in Form-III must be accompanied by Form-I.
In this step, the applicant is required to file form-I to initiate the Police verification. Where the agency is a company or a partnership, the proposed directors shall undergo Police verification without any exception.
Where the application is attested with the NOC from the police after verification, the respective authority will scrutinize the same and then proceed to either accord the license in form-IV or reject the same in case of default.
Note: Authority usually takes around 60 days to grant this license from the date of application submission. Following are the parameters that affect the timeline of granting the license
Applicants must appoint the supervisors to stay in line with the provisions of the PSARA, 2005. The supervisors are obligated to administer the agency’s operation in relation to the work of the security guards. The supervisors so appointed must have at least three years of experience in the defence services.
1: In terms of the type of business organization
The following business structures can apply for PSARA license
2: In terms of the role of a Director/Principal Officer
The PSARA Act has underpinned specific criteria for individuals intending to serve the position of Director/Principal Officer;
3: In terms of the role of a Security Guard
Individuals intending to become security guards must fulfill the given conditions: