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The object clause of the memorandum of association of abc private limited authorised the company to carry on the business of trading in fruits and vegetables the directors of the company in recently concluded board meeting decided and accordingly the company audit for fish for the purpose of trading fsh private limited seek advice or advise them?
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The object clause of the memorandum of association of abc private limi...
Advice to Seek Legal Opinion
Background Information:
- The memorandum of association of ABC Private Limited authorizes trading in fruits and vegetables.
- The directors have decided to include trading in fish.
- The company wants to seek advice or advice on the matter.
Advice:
It is advisable for ABC Private Limited to seek legal opinion on the matter of including trading in fish. This is because:
1. Compliance with Memorandum of Association:
The company's memorandum of association authorizes trading in fruits and vegetables. This means that the company is legally authorized to carry out this business activity. However, trading in fish is not mentioned in the memorandum of association. Therefore, the company needs to ensure that it is compliant with the memorandum of association before engaging in trading in fish.
2. Legal Implications:
Engaging in trading in fish without proper authorization can have legal implications. This can result in penalties and fines, which can be detrimental to the company's financial health. Therefore, it is essential for the company to seek legal opinion to ensure that it is engaging in the business activity within the legal framework.
3. Understanding the Regulatory Framework:
Trading in fish is subject to various regulatory frameworks, such as food safety regulations, licensing requirements, and environmental laws. It is crucial for the company to understand these regulations to ensure compliance and avoid legal issues.
Conclusion:
In conclusion, it is advisable for ABC Private Limited to seek legal opinion on the matter of including trading in fish. This will help the company ensure compliance with the memorandum of association, avoid legal implications, and understand the regulatory framework.
Background Information:
- The memorandum of association of ABC Private Limited authorizes trading in fruits and vegetables.
- The directors have decided to include trading in fish.
- The company wants to seek advice or advice on the matter.
Advice:
It is advisable for ABC Private Limited to seek legal opinion on the matter of including trading in fish. This is because:
1. Compliance with Memorandum of Association:
The company's memorandum of association authorizes trading in fruits and vegetables. This means that the company is legally authorized to carry out this business activity. However, trading in fish is not mentioned in the memorandum of association. Therefore, the company needs to ensure that it is compliant with the memorandum of association before engaging in trading in fish.
2. Legal Implications:
Engaging in trading in fish without proper authorization can have legal implications. This can result in penalties and fines, which can be detrimental to the company's financial health. Therefore, it is essential for the company to seek legal opinion to ensure that it is engaging in the business activity within the legal framework.
3. Understanding the Regulatory Framework:
Trading in fish is subject to various regulatory frameworks, such as food safety regulations, licensing requirements, and environmental laws. It is crucial for the company to understand these regulations to ensure compliance and avoid legal issues.
Conclusion:
In conclusion, it is advisable for ABC Private Limited to seek legal opinion on the matter of including trading in fish. This will help the company ensure compliance with the memorandum of association, avoid legal implications, and understand the regulatory framework.
Community Answer
The object clause of the memorandum of association of abc private limi...
As it is ultra virus the company i.e beyond the powers of the company (contrary to object clause) .so it is void and company cannot be made liable.
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The object clause of the memorandum of association of abc private limited authorised the company to carry on the business of trading in fruits and vegetables the directors of the company in recently concluded board meeting decided and accordingly the company audit for fish for the purpose of trading fsh private limited seek advice or advise them?
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The object clause of the memorandum of association of abc private limited authorised the company to carry on the business of trading in fruits and vegetables the directors of the company in recently concluded board meeting decided and accordingly the company audit for fish for the purpose of trading fsh private limited seek advice or advise them? for CA Foundation 2024 is part of CA Foundation preparation. The Question and answers have been prepared according to the CA Foundation exam syllabus. Information about The object clause of the memorandum of association of abc private limited authorised the company to carry on the business of trading in fruits and vegetables the directors of the company in recently concluded board meeting decided and accordingly the company audit for fish for the purpose of trading fsh private limited seek advice or advise them? covers all topics & solutions for CA Foundation 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for The object clause of the memorandum of association of abc private limited authorised the company to carry on the business of trading in fruits and vegetables the directors of the company in recently concluded board meeting decided and accordingly the company audit for fish for the purpose of trading fsh private limited seek advice or advise them?.
The object clause of the memorandum of association of abc private limited authorised the company to carry on the business of trading in fruits and vegetables the directors of the company in recently concluded board meeting decided and accordingly the company audit for fish for the purpose of trading fsh private limited seek advice or advise them? for CA Foundation 2024 is part of CA Foundation preparation. The Question and answers have been prepared according to the CA Foundation exam syllabus. Information about The object clause of the memorandum of association of abc private limited authorised the company to carry on the business of trading in fruits and vegetables the directors of the company in recently concluded board meeting decided and accordingly the company audit for fish for the purpose of trading fsh private limited seek advice or advise them? covers all topics & solutions for CA Foundation 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for The object clause of the memorandum of association of abc private limited authorised the company to carry on the business of trading in fruits and vegetables the directors of the company in recently concluded board meeting decided and accordingly the company audit for fish for the purpose of trading fsh private limited seek advice or advise them?.
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