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
- TDS 194-T applicability
- Fixe term employment
- Is any professional CA is here please reply
- GST ITC REVERSE
- Gift Received from nonblood relative
- Foreign lottery ticket bought online from India: legality, tax and consequences
- EXPORT BILL UNDER LUT FREIGHT CHARGE INCLUED IN INVOICE IT LIABLE TO TAX
- RCM ISSUE ON RENT AND TRANSPORTATION CHARGES
- Section 50-fixed asset-->building ceases to exist
- Putting a heading on received mail
- Regime change
- Consolidated financials
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- STATUTORY AUDIT OF A SMALL PRIVATE COMPANY INCORPORATED ON 28.03.2025
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
- Resigning a auditor from the company for misconduct
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
