Other objects of private company
This query is : Resolved
25 April 2013
Frdz,
What is the procedure for a private company to do the business mentioned in its OTHER objects clause?
Will just a board resolution serve the purpose?
What is the procedure for a private company to do the business mentioned in its OTHER objects clause?
Will just a board resolution serve the purpose?
25 April 2013
Hi
Where an existing public limited company proposes to take up a new business, which is covered in the "other objects" of the Memorandum in the case of a company formed on or after 15-10-1965 or covered in the object clause of a company formed before 15-10-1965, the said business can be undertaken by the company only after the proposal is approved by the members by a special resolution.
However, section 149 does not apply to a private company.
You are free to change your objects by Board resolution.
Where an existing public limited company proposes to take up a new business, which is covered in the "other objects" of the Memorandum in the case of a company formed on or after 15-10-1965 or covered in the object clause of a company formed before 15-10-1965, the said business can be undertaken by the company only after the proposal is approved by the members by a special resolution.
However, section 149 does not apply to a private company.
You are free to change your objects by Board resolution.
Message likes :
1 times
26 April 2013
thanks for the confirmation Sir..
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
- Showing Gift from relative in ITR for this year
- Share accounting-->fifo - capital gain - period as per fifo?
- ITR selection for salaries and capital gain less than L
- Treatment of Pension ?annuity returns on PMVY
- ITR filing- non tax audit cases- Asstt.Year 2026-2027
- Soyabean hsn code and gst rate
- Regarding IMS Mandatory from 1st July 2026
- Form 27Q Correction statement taking too long to update on IT Portal
- Scrutiny assessments u/s 143(2) for AY 25-26
- TDS related Query_Liquidated Damages
- Capital Gain on EUITY Shares
- Gst invoice numbering and delivery challan numbering
- Standard Deduction claim for EPFO Pension and ICICI Prudential Life Annuity
- Small dealers gst returns filing
- Sales amount in Gstr1
- CG after sale of flat
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
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
