Use of "capital" or "holding" in name

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Max Payne

employed

2574 Points Joined May 2008

Hi friends

I want to know whether there is any minimum cpl requirement or RBI restriction in the case below.

A private limited company is the holding company of 3 other private ltd companies.

So we want to change the name to "ABC holding pvt ltd" or "ABC Capital pvt ltd"

WE WANT TO CHANGE THE MAIN OBJECT of the Holding company

from marketing insurance products

to making investments in other companies.

Please tell me if the name change will be allowed, and any remedy if required...

Replies (6)

I don't think there is any hitch in changing of name and no mandatory requirement for minimum paid up capital except 3(1)(III). U can change ur main object but u should add new clause in the main object of ur MOA.

Others views solicited.

Guest

After Changing the Main Object, You must have to apply for the NBFC Registration with the RBI, As the New Main Object can be pursued by the NBFC Company only..

For, The purpose of NBFC Registration Your Company must have the Net owned fund of Rs. 2 Crore and has to qualify for the other Criteria’s also.

Max Payne

employed

2574 Points Joined May 2008

Dear sirs,

thanks for ur response...

But is there any way to fit this in section 372... I am not very familiar with this section...

pls help me..

Guest

Section 372 doesn’t apply to the Private Companies

Look at the Section 372(14)(b)

Guest

After the Share Investment as the Main Objective your company will be the deemed NBFC Company as per the Section 45-(I)(C), That’s why you have to register it with RBI..

The Companies Act, 1956 has nothing to do with the NBFC Registration, It’s the RBI requirement