Avika, ACS (HR Legal and Management Consultant) (172 Points)
11 July 2009How would we define the term "principal business" of the Company for the purpose of Companies Act, 1956.
Please provide any back-up reference, if possible.
Malav Shah
(Company Secretary and AVP Legal)
(171 Points)
Replied 11 July 2009
Main object of the Company shall be the pricipal business of the Company.
According to context since the matter pertains to Companies Act, it is construed as the main objects of the company which is declared in the MOA while registering the company.
CAclubindia
