Run confusion


CFP,FIII,CFA

Recently applied for RUN i.e reserve Unique name and got a reply but unable to understand what I should do next .. please help me for the same.

Reply says

This is to inform you that in terms of Rule 10 of the Companies (Registration Offices and Fees) Rules, 2014, the
above-cited Form RUN dated 13/05/2019 filed by  vide SRN XXXXXXXX has been examined and marked as Sent for
resubmission  with the following remarks-

Main Objects of the proposed company includes the business of financing which indicates financial activity. As per
rule 8(2)(b)(iii) it should be indicate in the name of the proposed company. Please ensure the compliance of rule
8(2)(b)(iii) & (xiii) of Companies Incorporation rule 2014 be ensured or remove such activities from MOA.

The defects or incompleteness in any respect in this eForm as noticed by the Registrar have been placed on the website.

 

1) Unable to understand which eform they are talking about and where can I actually find on the website.

Request profession help for the same . 

 
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Practicing CA

Proposed name is not in line with object. Say, your object clause include word Financing or finance activity but your proposed name is not inclusive of the word. 

And in this case you have to give declaration that after incorporation of the Company, we will take Approval of Specific  Regulator.... if necessary

 

 
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CFP,FIII,CFA

Thank you Mayur!!! To whom and which address I need to send declaration? I am trying to incorporate a Pvt LTD company, will you help me out for the same as a professional CA..if yes please message me your contact details so that I can connect you regarding the same.
 
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Practicing CA

What business object you ave mentioned in comment box of Run. If you are forming company for activity involving finance activities then only this clause is applicable , otherwise no.

Can you share object clause mentioned in Run form ?

Say, you are forming company having object clause training you will not required to submit declaration.

 
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CFP,FIII,CFA

I am a retail trader till date...so I mentioned on RUN somewhat "Company will be involved in trading on Indian stock markets for financial derivatives & commodities"
 
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CFP,FIII,CFA

So trading on Indian stock markets as a retailer or coporate does not require any special approvals from any regulators
 
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Practicing CA

If you are retail trader, why you are forming company. Retail trading is like personal business and corporate structure will make it public. Your books and all other docs will be public documents. 
If you are planning to start consultancy or coaching then it will be helpful. 

Investing on behalf of someone else will require permissions from respective regulators 

 
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CFP,FIII,CFA

My scale of Trading are going high...and after evaluating all the points trading under corporate structure will benefit in many terms specially taxation. Please help me out with the declaration format for Resubmission of RUN
 
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Practicing CA

Please change as per your need and context

This is just for information 

DECLARATION

[Pursuant to rule 12 of the Companies (Incorporation and Incidental) Rules, 2014]

 

To,

Registrar of Companies,

(Address of your ROC)

 

 

This is with reference to the application for incorporation of Company- AAAAAAAAA BBBBBBB  PRIVATE LIMITED, we ________________, ___________________ and _______________, the  subscribers to the Memorandum and Articles of Association and the First Directors of the Company,  pursuant to the proviso to Rule 12 of the Companies (Incorporation and Incidental) Rules, 2014; do hereby declare that —

 

 

  1. The main object of the Company as stated in the clause 3(a)memorandum of Association is as follows:-

 

To carry on the business in India and globally to act as consultants and advisors in branches of  accounts, engineering, finance, audit, taxation for domestic and international, payroll processing, management accounting, human resource and labour management, secretarial management, valuation services and management, services on corporate restructuring, business  process documentation, third party assignments, dealership activities, transfer pricing, process and management audits, legal due diligence, MIS reports and budgeting activities, project report preparation, labour law consultancy and evaluations, feasibility studies, techno- economic feasibility studies, forecasts, surveys, develop software and support services, to run, establish, maintain, provide, operate, manage, supervise, arrange and take on hire all necessary services, facilities, conveniences, equipments and to supply turnkey projects implementation in all industries, utilities, commercial and welfare fields and all kinds of registration activities with all government and non-government authority in all above services and to also act as agent or middleman in above mentioned fields. The main objects which require registration or approval from appropriate Statutory Authorities or Regulators under various Statutes shall be carried out by the Company after obtaining such approvals as may be required from time to time.

 

  1. The activities of finance management investment management and solutions, private equity fund management, insurance management, wealth management, capital market, forensic services, services on FEMA matters, financial institution and NBFC, cross border transactions support have been deleted from the main object clause.

 

  1. We undertake that the Company intends to provide only consultancy and advisory service and does NOT intend to carry on the business of chit fund, money changers, insurance, forex, micro- finance, housing finance, venture capital, asset management, investment etc. However, we further undertake that the main objects which require registration or approval from appropriate Statutory Authorities or Regulators under various Statutes shall be carried out by the Company after obtaining such approvals as may be required from time to time.
  2. We have also incorporated the appropriate wording as per Clauses above in the Main objects Clause accordingly.

 

We make this solemn declaration conscientiously believing the same to be true.

 

 

 

 

______________

XYZ

SUBSCRIBER/APPLICANT

DATE:

PLACE:

 
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CFP,FIII,CFA

Thank you Mayur so much!!! Small question it's ok to use advisory, bcoz as per my knowledge using advisory word in finance require special approvals from SEBI as per regulation. Should I resubmit RUN as same to same words given by you?
 
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