23 December 2009
No. However, it can receive cheques in a registered trade name / brand name belonging to it and provide copy of registered trade name to bank to clear the cheques and credit to the account belonging to private limited company as the owner of the brand name as applicable. If Radhika Exports is your Registered Brand Name, banks can collect the cheques of Radhika Exports but account would belong to the Pvt. Ltd. Company. Radhika Exports would be a division or Branch of the Pvt. Ltd. Company and not a proprietorship concern per se although you write the word proprietor as the owner. The auditing of Radhika Exports will have to be done per Companies Act and also 44AB if turnover including Radhika Exports the section would cross the limit. Even IEC willbe on PAN Number of Company and in name of Company with Radhika exports as Division or Branch. When you sign you will sign as the director of the Pvt. Ltd. Company as owner of the name / division.
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