Form 1 registration of company
This query is : Resolved
26 September 2013
Respected friends
I uploaded a copy of MOA along with FORM 1, while incorporating a new company. The MOA got rejected on the ground saying, use of word NBFC should be excluded.
On going through the same, I found that it has not been used anywhere in the MOA.
However,the under mentioned object, seemed related to my problem.
"To lend and advance money or give credit to such persons or companies and on such
terms as may be expedient and in particular to customers of and others having dealings
with the Company and to guarantee the performance of any contract or obligation and
to payment of money by any such persons or companies provided that the company
shall not do any banking business, as defined in Banking Regulation Act, 1949."
Can anyone confirm, if I should remove this clause.
Regards
I uploaded a copy of MOA along with FORM 1, while incorporating a new company. The MOA got rejected on the ground saying, use of word NBFC should be excluded.
On going through the same, I found that it has not been used anywhere in the MOA.
However,the under mentioned object, seemed related to my problem.
"To lend and advance money or give credit to such persons or companies and on such
terms as may be expedient and in particular to customers of and others having dealings
with the Company and to guarantee the performance of any contract or obligation and
to payment of money by any such persons or companies provided that the company
shall not do any banking business, as defined in Banking Regulation Act, 1949."
Can anyone confirm, if I should remove this clause.
Regards
05 October 2013
You redraft it and then upload. Instead of so many ifs and buts simply you state - to deal in money and to accept, lend, borrow against security and other terms
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- CLOSING STOCK QUERY
- Gst on travel by air for business purposes
- GST ISD Query on various AMCs
- Missed TDS
- Rent claimed on building given on permissive possession basis
- F&O reporting in ITR
- ITR 44AD SECTION
- Query regarding Item 61/62/63 vs Item 64 in ITR-3
- Taxation on Old jewellery sold
- Query regarding reporting of exempt foreign remuneration in ITR
- Gst reverse charge mechanism to be claimed in the month of payment
- Itr processing refund
- U/S 194 T
- TDS refund Indemnity Bond
- ITC BENEFIT ON BROKRAGE PAID
- PF wage ceiling
- Concept of Vendor and customner reconciliation
- Mistake in e-invoice identified after 24 hours
- EXPORT PAYMENT
- NRI ITR2 account in 2025-26.
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
