STARTING BUS. MENTIONED IN OTHER OBJECT CLAUSE
This query is : Resolved
Saurabh Jindal
(Querist)
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?
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
(Expert)
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
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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