Company law
This query is : Resolved
15 April 2012
As per Section 149(2A) of companies act, if a public company start a new business,it need to pass a SR, so does it mean if a private company commence a new business which is not in its main object it requires to pass just a Board Resolution ?
Kindly suggest,
Kindly suggest,
Ajay Mishra
(Expert)
15 April 2012
Hi
Yes, the provisions of section 149 will not apply to private company, so you can do so by general meeting or through Board meeting.
I will suggest you check your articles, what it says about that.
As a good corporate practice, i will suggest you to follow the general meeting procedure for this.
Regards
Yes, the provisions of section 149 will not apply to private company, so you can do so by general meeting or through Board meeting.
I will suggest you check your articles, what it says about that.
As a good corporate practice, i will suggest you to follow the general meeting procedure for this.
Regards
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