X Co. Ltd. is a public limited company having its object clauses like the following:
Main Object:
a.Manufacturing, branding, selling, etc cigarettes and other tobacco products.
b.Purchasing all materials needed to manufacture, brand, patent of the above products and all assets including plants and machinery needed.
Ancillary Objects:
a.Enter into any contracts, lease agreement, etc for the purpose of the main objects.
b.Manufacture, sale and otherwise disposal of any byproducts.
Other objects:
a.Manufacturing consumable food stuffs and selling the same.
b.Doing any other business that the company deems it profitable and beneficial to the company
CAN A COMPANY HAVE THIS TYPE OF OBJECT AS MENTIONED IN "Doing any other business that the company deems it profitable and beneficial to the company"
Directors of the Board of the said company ask for your advice on the proposal of starting a Hotel business in Bangalore. Give a detailed advice to the company.
CAclubindia
