It is well- known that Name selection is regulated by Emblems & Names (Prevention of Improper Use) Act, 1950.
However, there is one question in Form 1A, Which is as under:
11. Whether the proposed name(s) is in consonance with the main objects?
So, Is it compulsory that the name should be related to the Main Object activity?
Replies (3)
Guest
No, It is not compulsorily.
The Companies Act, 1956 or Emblems & Names (Prevention of Improper Use) Act, 1950 does not mention anywhere that the Name should be related to the Main objects.
Moreover, Every law must be based on the Logic. And there is no logic behind the Relation of Main objects clause.
So, It is Invalid.
I am still editing this post. Please back after few minutes.
Guest
I am starting new post as 24 Hours has elapsed, so, I can not edit my above post.
Though, E-forms are regulated by the Companies Forms & Addendum Rules. It doesn't have the overridding effect on the Companies Act, 1956.
MCA's name selection & MOA object connection logic is also wrong.
Because, It is not pssible that everytime we find a word related to our business activity like
ABC Consulatancy Limited
ABC Infrastructure Limited
ABC Finance & Investment Limited.
In practical life, sometime company covers very wide range of area & Single/Double word is not sufficient enough to describe the type of Company's Operation.
Then we simply have to write ABC Limited.
e.g. Company which does the following business
(1) HR Placement
(2) Finance & Investment
(3) BPO Processing
(4) Consultancy
There is no name which covers these type of activity.
So, It is not compulsory that name should give the rough idea about the Company's Main Object.
The only thing that matters is that, whether the Name applied is prohibited under the Names & Emblems (Prevention of Improper Use) Act, 1950 or not.
CAclubindia
