How to add a new business in private limited co.

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Hashim (Querist)
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28 November 2012 A registered company is engaged in forex business now it wants to add construction business under the same name. So what is the procedure for the same.

Ajay Mishra

Ajay Mishra (Expert)
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28 November 2012 Hi

You can not do the two different business in same company.

Forex business and construction business are two different field.

Hashim

Hashim (Querist)
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28 November 2012 Thanks Mr.Ajay Mishra
Company has mentioned in the memorandum of association, in the B part of the object incidental or ancillary to the attainment of the main object. that the company can do construction work

CS Ankur Srivastava

CS Ankur Srivastava (Expert)
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28 November 2012 Private company may start any business mentioned in the MOA with Board Resolution.

Public Company has to pass special resolution to start the business mentioned in the other objects and file form 20A.

However, a company shall be deemed to commence any business if and only if it commences any new business which is not germane to the business which it is carrying on.

Tareq Imam

Tareq Imam (Expert)
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08 January 2013 Pass a special resolution and apply for changes in the main object of the company. ROC will ask you to include construction word in the name of the company. uneed to change the name of the company also.
however upto 50% of total turnover you can carry on the construction work without changes since it is there in you MOA incidental objects

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