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What should be the main object clause of financial comapny ? (Corporate Law)

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This query is : Resolved


( Author )
31 July 2013

I want to know what should be the main object in object clause in the financial company's memorandum. ? company will provide financial services to the business entities but its too short object please suggest me something better for object. thanks


Ajay Mishra

( Expert )
31 July 2013


Main objects of Finance and Investment Company
1. To finance hire, purchase, requirements of buses, lorries, ships, aircrafts of all descriptions, machinery, buildings, tractors, equipments, ancillaries , etc. of the transport undertaking meaning a company, corporation or departmental undertaking which is engaged in the operations, management, repairs, maintenance, manufacture or trading of any mode of transport be it by road, sea, or air.

2. To undertake hire, purchase arrangements for the purpose of acquisition of aircrafts , ships, lorries, buses, tractors, machinery, equipment, buildings, ancillaries etc. required for the operation, maintenance and repairs of the transport undertakings as well as units involved in the manufacture, processing or storage of the spare parts connected with these units.

3. To assist the transport undertakings with long or medium term loans or subscribe to their shares capital, equity or preference, debentures or assist in other ways within the restrictions imposed by the Reserve Bank of India or any other authority under the law in force from time to time.

4. To establish or assist to establish companies or firms for undertaking work, projects or enterprises of any description whether of a private or public character in India or elsewhere and to acquire underwrite and dispose of shares and interest in any such companies or firms or in any other company to firm or in the undertakings thereof.

5. To execute directly or by the contributions or other assistance any such or other work, undertakings, projects and enterprise for any one else or on behalf of any one else either on contract agency.

6. To procure capital for any company and issue capital of such companies and to subscribe for, purchase, dispose of and otherwise deal in the shares, bonds and securities of such companies or any other securities and to invest the surplus fund of the company in inter corporate or other deposits or to provide loans to individuals, firms and corporation.

7. To receive money on deposits, current account or otherwise with or without interest and to receive and deposit title deeds and other securities and to lend money and negotiate loans of every description and transact business as capitalist, promoters and financial and monetary agents and to give any guarantee for the payment of money for the performance of any obligation or undertaking.

8. To invest in immovable property like land, buildings, flats, bungalows, row houses or acquire, improve, manage, develop all rights in respect of leasehold and freehold rights or properties and to sell and dispose of, turn to account and otherwise deal with the property of all kinds including land, buildings, patents, copy rights etc.

9. To form, promote, subsidise and assist companies, syndicates and firms and to aid municipal or other local body or company or firms or individuals with capital, credit, means or resources for the execution of any works, undertakings, projects or enterprise;

10. To carry on the business of financiers, concessionaries and merchants and to undertake and carry and execute all kinds of financial, commercial, trading and other operations.

11. To carry on the business of financing and advancing short term and long term loans and credits to individuals, companies or association of individuals by whatever name called and either on securities such as lands, buildings or part thereof, machinery, plants, chattels, vehicles, shares, debentures, government securities, stock certificates, life insurance policies and unit stock-in-trade or on guarantee or clean without securities and to finance leasing operation of all kinds.

12. To carry on business as financiers, concessionaries and merchants and the business of hire purchase in all its branches and to undertake and carry on and execute all kinds of financial, industrial, commercial, trading and other operations.



Ajay Mishra

( Expert )
31 July 2013


Main objects of Finance and Investment Consultants Company
1. To carry on the business of an investment trust company and to underwrite, sub –underwrite, to invest in, and acquire and hold, sell, buy or otherwise deal in shares, debentures, debenture-stocks, bonds, units; obligations and securities issued or guaranteed by Indian or Foreign Governments, State, Dominions, Sovereigns, Municipalities, or Public Authorities or Bodies and share, stocks, debentures, debenture stocks, bonds, obligations and securities issued and guaranteed by any company, corporation, firm or person whether incorporated or established in India or elsewhere.

2. To act as financial consultants, management consultants, and provide advice, services, consultancy in various fields, general administrative, secretarial, commercial, financial legal, economic, labour, industrial, public relations, scientific, technical, direct and indirect taxation and other levies, statistical, accountancy, quality control and data processing.

3. To take part in the formation, supervision or control of the business operations and any company or undertaking and for that purpose to act as an Issue House, Registrars and Share Transfer Agents, Secretaries, Financial Advisors or Technical Consultants or in any other capacity and to appoint and remunerate any directors, administrators or accountants or other experts or agents.

4. To reserve money on deposit at interest or otherwise for fixed periods, and to lend money on any terms that may be thought fit and particularly to customers or other persons in corporations having dealing with the Company. The Company shall not carry on any business of banking as defined by the Banking Companies Act,1949 or any statutory modification thereof.

5. To manage investment pools, mutual funds, syndicates in shares, stocks, securities, finance and real estate.

6. To act as Investment Consultants, stock brokers, underwriters and to invest or subscribe for purchase or otherwise, acquire and sell, dispose of exchange, hold and otherwise deal in shares or other securities issued by any authority Central, State, Municipal, Local or otherwise and to carry on the business generally carried on by investment companies.

7. To carry on the business of financial and investment consultants, finance brokers, stock brokers, underwriters, registrars, issue house, portfolio management and to invest or subscribe for purchase or otherwise acquire and sell, dispose of, exchange, hold and otherwise deal in shares or other securities issued by any authority Central, State, Municipal Local or otherwise and to carry on the business generally carried on by finance and investment companies.

8. To act as consultants or advisors of any firm, body corporate, association or other undertaking and generally subject as aforesaid, to act as consultants or advisors and to undertake part in the management supervision or control of the business or operation of any person, firm, body corporate, association or other undertaking and, if necessary, for such purpose or purpose to appoint and remunerate any offices of the company, accountants or other experts or agents.

9. To carry on the business as financial advisors and to advise and assist in all financial, costing, accounting internal control and other similar matters to advise and assist in the preparation of all revenue and capital budgets, developments of funds, long term planning or utilisation of resources, procuring bank and institutional finance including cash, credit facilities, overdraft facilities, subscription of debentures and term loans, to assess the needs of short and long term credit facilities and raising of resources, to advise and assist in the formulation of procedures for prevention of fraud, wastage, financial and cost accounting procedure and other connected matters to advise and assist in formulating long term financial policies and control of their execution, and generally to advise and assist in all financial, fiscal and revenue matters.



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