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Procedure to start a new business with existing one

ankit jain (Semi-Qualified) (36 Points)

18 December 2014

Dear All,

A company which is already doing a business of share trading and the members of the company wants to start a new activity of restaurant and spa.

Kindly explain the detailed procedure for amendment of MOA and filing of forms to ROC

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2 Replies

prakash (Company Secretary) (1352 Points)
Replied 19 December 2014

Dear Ankit,

1. Hold Board meeting and place draft moa after inserting new objects and take approval of board for commencement of new business and fix date, time and place of EGM and approve notice of EGM

2. Hold EGM and get approval of member for insertion of new objects

3- File form MGT-14 with in 30 days from the date of EGM

4. If you fail to file form MGT 14 within 30 days, company has to go for compounding of offence by filing of petition with CLB.

ankit jain (Semi-Qualified) (36 Points)
Replied 19 December 2014

Thanks Prakash, I had followed such procedure as you explained and had filed MGT-14 but now there is following error showing:

Section 4(1) of the Companies Act 2013 provides that the objects for which the company is proposed to be incorporated and any matter considered necessary in furtherance thereof; In the instant case the company has altered main objects. But no objects considered necessary in furtherance thereof has been stated in the altered MOA. The set of objects incidental and ancillary for attaining the main objects remain recorded in the altered MOA but here cannot be any such objects for the new or altered main objects added.- No resolution for deletion of Other Object Clauses is attached Form should be resubmitted by 25/12/2014 failing which the eForm shall be treated as invalid and shall not be taken on record. (Please refer Regulation 17 of the Companies Regulation, 1956)

Please help me, what should i do for filing correct detail