Online Company Registration in Kerala
Where the proposal is to undertake the business of banking, it can be carried on without registration as a company if the number of persons joining together for the business is not more than ten. If there are more than ten persons who together intend to do banking business, they cannot do so unless they form company and register it under the Act Company Registration Kerala.
The mandatory need for registration as a company arises only when an association of more than twenty persons intends to vary on some business other than banking with the object of acquisition of gain. Acquisition of gain or the intention to earn profit is the important criterion Company Registration Kerala.
When an association was formed with the object of acquiring land and division thereof amongst the members, such an association was formed with the object of acquiring land and division thereof amongst the members, such an association was held outside the ambit of the statutory provision Company Registration Kerala.
INVESTMENT IN OTHER COMPANIES, FORMATION OF SUBSIDIARIES, ETC
(1) The general reserves of any Producer Company shall be invested to secure the highest returns available from approved securities, fixed deposits, units, bonds issued by the Government or co-operative or scheduled bank or in such other mode as may be prescribed.
(2) Any Producer Company may, for promotion of its objectives acquire the shares of another Producer Company.
(3) Any Producer Company may subscribe to the share capital of, or enter into any agreement or other arrangement, whether by way of formation of its subsidiary company, joint venture or in any other manner with any body corporate, for the purpose of promoting the objects of the Producer Company by special resolution in this behalf.
(4) Any Producer Company, either by itself or together with its subsidiaries, may invest, by way of subscription, purchase or otherwise, shares in any other company, other than a Producer Company, for an amount not exceeding thirty per cent of the aggregate of its paid-up capital and free reserves :
Provided that a Producer Company may, by special resolution passed in its general meeting and with prior approval of the Central Government, invest in excess of the limits specified in this section.
(5) All investments by a Producer Company may be made if such investments are consistent with the objects of the Producer Company.
(6) The Board of a Producer Company may, with the previous approval of Members by a special resolution, dispose of any of its investments referred.
(7) Every Producer Company shall maintain a register containing particulars of all the investments, showing the names of the companies in which shares have been acquired, number and value of shares ; the date of acquisition ; and the manner and price at which any of the shares have been subsequently disposed of.
(8) The register referred to shall be kept at the registered office of the Producer Company and the same shall be open to inspection by any Member who may take extracts therefrom.
