Incorporation of pvt. ltd. company

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

03 August 2012 Hi Everyone,

I am incorporating a Pvt. Ltd. Company with the following object:
"To carry on the business of e-shopping, e-ticketing, online recharge of mobiles, bill payment, tax payment, insurance premium, e-billing and other allied activities."

The above mentioned object has been discribed in a nut shell.
Kindly provide the main object related to the above mentioned statement for Drafting of Memorandum of Association.

Ajay Mishra

Ajay Mishra (Expert)
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03 August 2012 Hi

If you are doing insurance business then you will take approval from IRDA.

Ajay Mishra

Ajay Mishra (Expert)
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03 August 2012 Hi

Main objects of Insurance Company

(1) To undertake, carry on, establish, organize, promote, operate, conduct and develop whether in India or elsewhere through out the world (subject to the laws of the place where the business is to be carried on ) all kinds of general insurance business, whether of a kind now known or hereafter devised and all kinds of guarantee and indemnity business, and in particular without prejudice to the generality of the foregoing words, to undertake, carry on and transact all branches of health, fire, marine, aviation, accident, motor vehicle, employers liability, workmen’s compensation, disease, sickness, failure of issue, loss of key-man, third party liability, burglary and robbery, theft, rural, social, credit, engineering , fidelity and transit insurance and insurance covering risk against any liability under any law, convention or agreement, and to undertake all other risk and liabilities usually undertaken by persons or companies carrying on the business of General insurance and further without prejudice to the generality of the foregoing words :

a. To grant or effect assurances against or upon the contingency of injury, damage or loss by reasons of accidents of any description to human beings (excepting insurance against accidents terminating fatally), and to grant or effect insurance against or upon the contingency of injury, damage or loss by reason of accidents of any description to real or personal property of any kind.

b. To grant insurance against or upon the contingency of injury, damage or loss occurring to motor vehicles and to the real and personal property of motorists and motor vehicle clubs, caused by or resulting from fire , lightning, explosions, tempests, or the overflow or inundation of water, or from any other accidental cause.

c. To grant assurances to protect and to indemnify owners of motor vehicles against claims by the public for personal injuries and damage to property caused by their drivers, and to make good to the insured damage to their property produced by collision with houses, vehicles, cycles or motor vehicles of others, and to grant policies or other instruments of insurance indemnifying owners against loss or damage to their motor vehicles by accident, fire and theft.

d. To carry on the business of fire insurance in all its branches, and to grant insurance against injury or damage to or loss of property directly or indirectly caused by or resulted from fire, accident, lighting , explosion or otherwise.

e. To insure and grant, issue and effect policies and assurances in respect of surety (excluding financial guarantee) including guarantee of performance of a contract.

f. To insure and grant, issue and effect policies and assurance in respect of aircraft, vessels and other motor vehicles including for legal liability for passengers or other third parties or physical damage to the hull.

g. To carry on the business of marine and aerial insurance in all its branches, and in particular to make or effect insurance on ships, vessels, boats, craft and aero planes of all kinds and on goods, merchandise, live or dead stock, luggage, effects, bullion or other property, respondentia and bollomry interests, commissions, profits and freights.

h. To carry on all kinds of transit insurance business including of transit by land, sea, air, inland waterways and re-insurance business incidental thereto.

i. To establish different classes or clubs of insuring members upon the footing that the members of each class or club shall insure one another on the mutual principle and to manage and regulate such classes or clubs.

j. To transact insurances to protect employees and principals against liability on account of injury, loss or damage, either sustained or caused by workmen, servants, employees or agents in their employment or acting on their behalf.

k. To transact insurances to protect and indemnify principals or employers against loss or damage by fraud, breach of trust or misconduct of their servants, agents or others acting on their behalf, and to guarantee and provide security for the fidelity and good conduct of persons filing or about to fill offices or appointments and situations of trust or confidence and also to protect and relieve private sureties against loss arising to them from their liability as cautioners or guarantors for others.

l. To transact insurances against claims upon the assured for injuries to the person and property of third parties caused by the assured or his property or by others for whom he is responsible.

m. To transact insurances against loss of property by burglary or theft by housebreaking or larceny.

n. To insure or give any guarantee in relation to any stock, shares, debentures, debenture stock, bonds, obligations or securities issued by or having any guarantee of any company or institution or of any authority supreme, municipal, local or otherwise, or of any person or persons whomsoever, whether corporate or un-incorporate.

o. To insure or give any guarantee against calls and demands for contribution in respect of any liability incident to the ownership of any shares or stock in any company or undertaking.

p. To insure or guarantee the holders of, or persons interested in, or proposing or intending to become holders of any shares, stock or securities issued at a premium or standing at a premium, against loss arising from redemption at par, depreciation or otherwise.

q. To insure or guarantee the safety of securities and property of all kinds placed on deposit with the Company or elsewhere, or entrusted to the Company or other persons or companies for transmission, or otherwise howsoever.

r. To insure and guarantee the due payment and performance of bills of exchange, promissory notes, debts, contracts and obligations of all kinds, on the del credere system or otherwise.

s. To insure and grant, issue and effect policies and assurances in respect of horses, cattle, sheep, pigs and other live stock against death, whether arising in the course of nature or caused by or the result or arising from or out of disease or accident, and against injury or depreciation in value of accident, or by fire, flood, inundation, lightning or tempest.

t. To insure and grant, issue and effect insurances upon and in respect crops, whether growing or servered, against loss, destruction, or injury by fire, flood or inundation, or in any other manner.

u. To insure and grant, issue and effect policies and assurances in respect of loss or damage to property caused by an insured peril including with respect to building, furniture and fixtures and contents including stock and equipment.

v. To insure and grant, issue and effect policies and assurances in respect of inland marine, specialized coverage for property away from the insured premises including contractors equipment, cargo.

w. To insure and grant, issue and effect policies and assurances in respect of damage to property resulting in a business interruption or loss of income and continuing expenses thereto.

x. To insure and grant, issue and effect policies and assurances in respect of boiler and machinery including sudden and accidental breakdown of any object including heating and air conditioning equipment.

y. To insure and grant, issue and effect policies and assurances in respect of legal liability for bodily injury or property damage caused by automobile or otherwise.

z. To insure and grant, issue and effect policies and assurances in respect of accidental benefits, including providing no fault coverage, medical and loss of income caused by automobile or otherwise.

aa. To insure and grant, issue and effect policies and assurances in respect of physical damage, loss or damage to the insured vehicle or automobile or other mode of transportation.

bb. To insure and grant, issue and effect policies and assurances in respect of commercial general liability or personal liability or legal liability for bodily injury or property damage.

cc. To insure and grant, issue and effect policies and assurances in respect of umbrella or excess liability.

dd. To insure and grant, issue and effect policies and assurances in respect of errors and omissions, legal liability for economic loss caused by rendering or failing to render professional service.

ee. To insure and grant, issue and effect policies and assurances in respect of directors and officers including legal liability for designated directors and officers for wrongful acts.

ff. To insure and grant, issue and effect policies and assurances in respect of employers liability including for legal liability for employees injured in the scope of coverage.

gg. To insure and grant, issue and effect policies and assurances in respect of crime, loss or destruction of money, securities or property by third party. hh. To insure and grant, issue and effect policies and assurances in respect of fidelity including loss of money or securities by employees.

ii. To insure and grant, issue and effect policies and assurances in respect of legal expenses for a specified coverage.

jj. To insure and grant, issue and effect policies and assurances in respect of marine including legal liability and physical damage to the vessel.

Ajay Mishra

Ajay Mishra (Expert)
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03 August 2012 Main objects of Tour and Travel Company

1. To encourage and provide the business as package tour operators, daily passenger service operators, tour operators, travel agents, ship booking agents, railway ticket booking agents, airlines ticket booking agents, carrier service agents, courier service agents.

2. To carry on the business of running of taxies, buses, mini buses, trucks and conveyances of all kinds and to transport passengers, goods, commodities, livestocks, merchandise and to do the business of transporters, forwarding and transporting agents, stevedore, carmen, whatfingers, cargo superintendents, package handlers and carting contractors.

3. To carry on the business as tourist agents and contractors and to facilitate traveling and to provide for tourists and travelers, the provision of convenience of all kinds in the way of through tickets, sleeper cars, or berths, reserved places, hotel, motel and lodging, accommodation guidance, safe deposits, enquiry bureaus, libraries, reading rooms, baggage transport and other allied services. 4. To act as Money Changers to provide services that may be necessary for the achievement of the aforesaid objects.

Querist : Anonymous

Querist : Anonymous (Querist)

04 August 2012 Dear Mr. Ajay,

Thanks for the reply but i need the main object that covers all the points that are specified in my previous post.
The Client is not starting insurance business it is only related to e-payment of insurance premium of his clients.

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