Multiple unrelated businesses - new pvt. ltd.co..

Pvt ltd 1128 views 7 replies

Chetan Shah

Others

26 Points Joined December 2014

I applied to register a company a few months back, and it finally got incorporated 3 days back. My Company Secretary told me that I had to keep the activity of the business in it's name, so my company is named

XYZ Manufacturing Solutions Private Limited.

I intend to manufacture small goods and electrical items, but I'd also like to start a few online, technology related businesses. The shareholders/directors will be the same.

My Company Secretary told me that I would have to register a separate company if I wanted to do an additional unrelated business. Is this true?

Thank you for reading, and for your responses, if any.

Replies (7)

CA. Abhishek K. Pandey

Manager (Advance)

901 Points Joined March 2008

Activity of the company is incorporated in its MOA. So, basically you have to amend your MOA.

CS Mitesh Mehta

Company Secretary

17139 Points Joined January 2009

You have to change object and name clause of MOA of the company to start any other business not specified in object clause of MOA.

Chetan Shah

Others

26 Points Joined December 2014

Originally posted by : CS Mitesh Mehta
	You have to change object and name clause of MOA of the company to start any other business not specified in object clause of MOA.

Does that mean I have to change the name of the company? Even if I'm still into the original business, which is manufacturing in my case?

CS Mitesh Mehta

Company Secretary

17139 Points Joined January 2009

YOU HAVE TO ALTER THE OBJECT CLAUSE OF MOA.

CS Mitesh Mehta

Company Secretary

17139 Points Joined January 2009

CHECK THE OTHER OBJECT CLAUSE OF MOA. IF ACTIVITIY YOU WANT TO START IS NOT MENTION IN THE OBJECTS THEN ONLY YOU HAVE TO AMEND THE OBJECT CLAUSE

CS Divesh Goyal

Practicing Compnay Secretary

52055 Points Joined May 2013

Dear mitesh if you are starting other activities with manufacturing activity. You only need to alter MOA. If want procedure for same mail me at csdiveshgoyal @ gmail.com i wrote article on this will mail you

P C Agrawal

Registered independent director Past Ch

8229 Points Joined March 2007

It is not mandatory to have separate company for different business activities. Several business houses in the country have multiple business activities under the roof of the same company. For example, ITC Ltd is in the business of running hotels, manufacturing cigarettes, edible oils, FMCG products, paper boards, software etc. etc.....