Ad-Free CAclubindia and Daily Updates on your mobile. Subscribe Now!

Statutory Requirments

Jyoti Malik (ACCOUNTANT) (2644 Points)

30 January 2010

Hi all, Please tell me what are the statutory requirements for a company for trading in Chemicals. Thanks in advance.

Reply
Follow
Share

3 Replies

Ankur Garg (Company Secretary and Compliance Officer) (114773 Points)
Replied 30 January 2010

First check your object clause for chemical business. You have to alter your object clause by passing a special resolution in the GM to insert the power in MOA, if there is no such power in the MOA for trading in the chemical business.

Upgrade to CAclubindia Pro. Subscribe Now!

CS Ankur Srivastava (Company Secretary & Compliance Officer) (17853 Points)
Replied 30 January 2010

You have to incorporate it into object clause of the MOA. If already exists no problem, start trading. Otherwise by way of Special resolution insert new clause in object clause.