STARTING BUS. MENTIONED IN OTHER OBJECT CLAUSE

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Saurabh Jindal (Querist)
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14 August 2009 HI Experts!

PLZ TELL ME THE PROCEDURE OF STARTING A NEW BUSINESS MENTIONED IN THE OTHER OBJECT CLAUSE OF A COMPANY'S MEMORANDUM? AND WHAT IF THE NEW BUSINESS RESULTS IN LOSS? CAN IT BE SET OFF WITH EXISTING BUSINESS?

Ankur Garg

Ankur Garg (Expert)
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14 August 2009 Hi,

if u want to start new BUSINESS then sec-149(2A) shall apply and u have to pass special resolution in general meeting of shareholders.

Also you have to amend ur MOA and put the oject in main oject. For MOA alteration also u hv to pass special resolution in general meeting of shareholders.

Yes it can BE SET OFF WITH EXISTING BUSINESS.

Regards

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