Deed before Incorporation
This query is : Resolved
29 March 2010
We are in the process of incorporation of a private limited company. Company name has been approved by RoC. Now directors want to execute leave and license agreement immediately for work area of company. So before incorporation, in whose name is the deed to be executed? Company or promoter director or all the promoter directors?
06 April 2010
Dear Ashish,
If the deed is to be executed for the purposes of the company then it can only be executed on incorporation of the company as the promoters/directors cant execute it on behalf of the company before its incorporation and it would also lead to personal liability on part of the promoters/directors. I would suggest that the deed be executed by the Directors of the Company duly authorised by a board resolution on the incorporation of the company.
Regards
Divya
If the deed is to be executed for the purposes of the company then it can only be executed on incorporation of the company as the promoters/directors cant execute it on behalf of the company before its incorporation and it would also lead to personal liability on part of the promoters/directors. I would suggest that the deed be executed by the Directors of the Company duly authorised by a board resolution on the incorporation of the company.
Regards
Divya
06 April 2010
Thank you Divya..
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Is this income indian or foreign income?
- ITC temporary reversal and reclaim
- Applicable TDS rate for sale of property in Nov 2024
- Inventory of finished goods
- Sale of property furniture sale
- Quiery in relation to GST liability in case of an advocate who has obtained GST registration.
- REGARDING 25 AS DATE OF PAYMENT AND DATE OF BOOKING
- Can we claim ITC of Feb-2024 in the month of November-2024 which was not claimed by oversight
- RCM INVOICING FROM NOV-2024
- Confusion around Form 26QB fields
- TDS under section and rate of TDS
- GST input on scooter purchased
- TDS under section 194Q and TCS under section 206C
- GST input on car insurance and repairs
- GST input on Diwali gift to employee
- GST input on Mobile Handset
- Material and freight in same invoice
- TDS under section 194J inclusive of reimbursement of expenses
- TDS on Material and Labour in same invoice
- Should I be worried about and rectify reporting Jan,Feb ,March 2024 foreign salary in schedule FA?
Trending Online Classes
CAclubindia
