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Can a section 8 company be formed for power generation?
Can we form a Section 8 company for generating electricity. Is there any threshold limit till which the organisation can produce electricity? Can such company apply for government projects?
Replies (3)
The licensing of Section 8 company is at discretion of the Government , the license would be granted provided after satisfaction of Section 8(a) , (b) & (c)
The section 8 criteria will be met but the question is whether Power Generation falls within the ambit of Section 8. Can a company prima facie get incorporated as a Section 8 company if the object clause is power generation. They will use the power so generated for public welfare.
Yes, Section 8 Company can be formed for Power generation if it satisfies the Condition under section 8 (1) (a) which states the object of promotion of commerce, art, science, sports education,research, social welfare, charity, protection of environment and any other object.
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