Dear Friends
I require your advice on the following issue:
My company want to invest in a listed company with a foreign partner. For this purpose we require a shell company to make investment in that listed company.
We already identified a company within our group which doesnt do any business. As per MOA of the company main object of the company is providing financial and investment consultancy and Stock Broking.
Now my foreign partner is asking me to insert a new clause in the company to add powers to make investment in the listed company.
Please advise on whether such change is required? If i add such a clause would it fall in defination of investment company which require permission of RBI?
Isnt a company has the power to invest in other company without requirng special power in object clause of MOA?
Eagarly waiting for your reply.
Regards
Rahul Soni
9811521466
CAclubindia
