Yes, one can certainly
add many products in the shelter of one private limited company.
But, the products must be in line with the central object as specified in
the MOA and must be in similar fields.
An organization uses to
gain profit from particular business activities. To gain expanding profit the
efforts of the company must be directed in one way. The company is a kind of
organization that needs a specific registration process to be
followed and limited its reach within terms of the law. The scope of activities
of the company is determined by the contract documents of the company i.e. MOA
and AOA. The scope clause of the company is considered in the MOA of the
company, which must be furnished to MCA while company registration.
You can also
consult CA/CS near you or make a query on online ca
service portals for more information about the multiple product
startups. Mother dairy is a brand that deals in all dairy products but they are
different from each other.
Startups Must know - about private company requirements
·
No.
of Shareholders - 2 (Individuals / Companies / LLP)
·
No.
of Directors - 2 (Only Individuals)
·
Authorized
Capital - No Minimum Requirements
·
Paid
Up Capital - No Minimum Requirements earlier it's Rs 1 Lak
·
All
directors must be at least 18 years old.
·
There
must be at least one natural person designated as a director and resident of
India.
·
The
company must have a registered office address in India.
·
The
chosen company name must not be the same, or too related, to any other company
name currently been on the register at Companies House.
·
The
company must give a minimum of one share at the time of incorporation.
What is the Purpose clause of MOA?
The object clause of MOA
defines the activities to be carried on by the company and describes the scope
of business. A company cannot satisfy in activities other than those provided
in the purpose clause. The activities offered outside the scope drawn by MOA
are called ultra-virus activities. Also, to restrict and control the company’s
activities, the MOA and objects of the company are checked and approved
while pvt ltd company registration online. Here, under the object clause, the company
must give all the activities it will retain after its incorporation.
However, while company
registration, the common frequent issue asked in “Whether one can register
a company for multiple businesses?”
Read More- Difference Between Private Limited
and LLP Company
The solution is yes;
however, it depends on whether the projects are related or not. The company may
carry on more than one activity at the permission of the member. All such
activities are expected to be listed under the object clause as specified
above. In a possible scenario, many promoters wish to put all various
activities under one roof, which may be welcome to a certain extent. Here, we
are giving a true image of whether different business activities can be
registered under one group.
When the activities are
registered with the reference to business perspective and growth can be made.
Activities ancillary to the central business objective are entitled to be
brought on under the same roof and are not a circumstance of problem.
Ways to register multiple businesses
Concerning multiple
businesses, here are few of the way by which many businesses can run under a
particular Private Limited Company:
· Creation of different brands under one company
You can register various business
verticals under a single company without having separate online company registration in india. You
just need to introduce multiple brands under a single umbrella, which will
represent your original company.
· Various Subsidiary/Sister concern Companies
You can include more than
one subsidiary company in that the Common Holding company must be a Private
Limited company. Or else you can incorporate sister-concern companies in that
the Board of directors must consist of the Board of the Primary Private
Limited Company.
· Incorporating Many Companies under a Common Group Name
Another alternative is to
incorporate several companies under a standard Group name. Some of the examples
for the same are ‘Reliance’. Here, the Board may or may not include the same
directors as of the Primary Private Limited Company.
·
Amalgamation/Merger
You can also go for
restructuring projects also like, Amalgamation, Merger, Takeover, Acquisition,
etc.
·
Read More- Difference between Private Limited
and One Person company
Multiple related and unrelated activities
Activities that are alike
to each other and are of the same area are related and that do not fall under
the same field are unrelated activities. By connecting it to similar activities,
we mean the 2 activities are linked in one or another way or belong to the same
industry. For example, let’s consider a Reliance Company, the main activity of
the company is to Reliance Textiles Engineers Pvt. Ltd. This
company can hire different employees and make them used to the process and
services of the company they will have to give them individual training.
Imparting training for the advantage of the company or managing the business
goal is allowed but doing it as a lead service is not allowed. A digital market
can also be added as it relates to the same field or industry.
Here, if the company
begins to impart training to students as a service and with no relation to the
original production of the company it will be unrelated to the main objective.
Education falls under the education field whereas Reliance falls under a
different category and doing both under one roof is not permitted by RoC. RoC
does not support unrelated activities as the main thing for the same company.
Though, if the members of the company are willing to do so it may be offered
and applied for permission to ROC.
Example: Cosmetics- they
are different types all comes under one business only so its very much possible
to deal in the same company.
Another example is Amul-
it has dairy products but they are different from each other. The name is one
and all are dairy products of different types like milk, buttermilk, butter,
ice-cream, etc.
Conclusion
If you're looking for
introduce multiple products under one private limited company then
why not. It's possible but for that, you need to get connected with CA/Cs
near you. The online CA services will help you in
fulfilling all demands and questions in your mind.
LegalPillers is also such a company which has the answer to your entire
question and gives best advice for company registration and other
services like trademark registration fees as
well. To find chartered
accountant near me, get connect to us
at 9625279785 or 9267941961 or you may write
us at info@legalpillers.com
Related
Blog-
TYPES OF COMPANY REGISTRATION IN
INDIA FOR STARTUPS
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