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Object of Trading of Shares and Securities

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(Querist)
13 May 2020 Can normal Pvt ltd be formed for trading of shares & securities, F&O, MCX, Currency,etc as a main business object ?

Also Both Directors & Shareholders are POI but Foreign Resident staying in Singapore.

Please guide what permission must be obtained to incorporate the Pvt Ltd in india at Indian address ?
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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
13 May 2020 Permission and registration with RBI is required as NBFC.
Take one resident as additional director.
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c.bakshi

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c.bakshi (Expert)
14 May 2020 the main object of this private company is covered under the meaning of "intermediary" u/s 12 of SEBI act, 1992. the operation of the company is like of depository participant under Depository Act, 1996 so i think its not allowable.
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