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
- Current Account Opening for Sole Proprietorship with Udyam Certificate - Zero Turnover
- TDS on Purchase of Immovable Property by NRI from NRI
- Capital gain from sale of house property
- INTEREST APPLICABLE ON ITC REVERSAL PORTION
- SFT Cash Deposit in Current Account
- FORM 26A APPLICABILITY
- Regarding TDS Applicability For Director Remuneration
- Value of property in capital gain
- Transporter Declaration form
- Multiple trade mark
- LC charges in relation to Asset purchased should be Capitalised ?
- Opting our of sec 44AD
- GST Treatment of Insurance Commission for Existing GST Holder
- Cash gift by grand mother to her grand daughter
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
- No Compliences after incorporation
- USEFUL LIFE OF USED/SECOND HAND COMMERCIAL VEHICLES
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
