company creation
This query is : Resolved
Sudharshan Reddy
(Querist)
13 August 2016
Sir,I want to establish a private limited company having both business & social objectives .Can it fall under section 8 or follow the procedure of normal private limited company
thanking you
CA SUNIL K GARG
(Expert)
16 August 2016
Your problem has two limbs.As per companies act, section 8 companies cannot have business interest.However,Commercial activity related to main object of section 8 company can carry those activity for a fee.For eg :- Industry associations, though registered as section 8 company and carry out those commercial activities which are done to attain the objects of the company.
Ideally, you should form section 8 company for social activities and normal company for commercial activities.
Ideally, you should form section 8 company for social activities and normal company for commercial activities.
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