law: Trade Marks Act, 1999  
  46. Proposed use of trade mark by company to
  
  be formed, etc.- 
  (1) No application for the registration of a
  
  trade mark in respect of any goods or services shall be refused nor shall
  
  permission for such registration be with held, on the ground only that it
  
  appears that the applicant does not use or propose to use the trade mark if the
  
  Registrar is satisfied that- 
  (a) a company is about
  
  to be formed and registered under the Companies Act, 1956 (1 of 1956) and that
  
  the applicant intends to assign the trade mark to that company with a view to
  
  the use thereof in relation to those goods or services by the company, or
  (b) the proprietor
  
  intends it to be used by a person, as a registered user after the registration
  
  of trade mark.
  (2) The provisions of section 47 shall have
  
  effect, in relation to a trade mark registered under the powers conferred by
  
  this sub-section, as if for the reference, in clause 9a) of sub-section (1) of
  
  that section, to the intention on the part of an applicant for registration
  
  that trade mark should be used by him there were substituted a reference to the
  
  intention on his part that it should be used by the company or registered user
  
  concerned.
  (3) The tribunal may, in case to which
  
  sub-section (1) applies, require the applicant to give security for the costs
  
  of any proceedings relating to any opposition or appeal, and in default of such
  
  security being duly given, may treat the application as abandoned.
  (4) Where in a case to which sub-section (1)
  
  applies, a trade mark in respect of any goods or services is registered in the
  
  name of an applicant who, relies on intention to assign the trade mark to a
  
  company, then, unless within such period as may be prescribed or within such
  
  further period not exceeding six months as the Registrar may , on application
  
  being made to him in the prescribed manner, allow, the company has been
  
  registered as the proprietor of the trade mark in respect of those goods or
  
  services, the registration shall cease of have effect in respect thereof at the
  
  expiration of that period and the Registrar shall amend the register accordingly.