General Circular No. 2/2012

Dated the 1st March, 2012

Subject: Registration of Companies or LLPs which have one of their objects is to carry on the profession of Chartered Accountant, Cost Accountant, Architect, Company Secretary etc.

I am directed to say that at the time of incorporation of companies where one of the objects is to carry on the business of Banking, Insurance or to practice the profession of Chartered Accountancy, Cost Accountancy & Company Secretaries, then the concerned Registrar of Companies shall incorporate the same only on production of in-principle approval / NOC from the concerned regulator/professional Institutes.

2. Further, in this connection, it is also stated that where one of the objects is to carry on the business/profession of Architecture, then the concerned Registrar of Companies /Registrar of LLP shall incorporate the same only on production of in-principle approval / NOC from the concerned regulator.

3. This issues with the approval of CAM.

Yours faithfully,

(Monika Gupta)

Assistant Directors

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0 responses to “Registration of Companies or LLPs to carry the business of banking, Insurance, Architect, CA, CS Needs Approval”

  1. vswami says:

    SCOPE OR POSSIBILITY of differing views, with different strokes cannot be ruled out; much less frowned upon.
    Be that as it should,  the subject General Circular is seen to provide the necessary guidance to those professionals who have been hotly but inconclusively debating  the fundamental point namely,
    WHETHER or not,  TWO OR MORE PROFESSIONALS, e.g.. CAs OR  ADVOCATES CAN PRACTICE  THE RESPECTIVE PROFESSION BY FORMING AND REGISTERING THEMSELVES AS A ‘COMPANY’ OR ‘LLP’.  
    AS SUCH, THOUGH NOT IN DETAIL, THE REFERRED CIRCULAR IS SEEN TO SAY THAT SHOULD BE POSSIBLE PROVIDED THE CONDITIONS, ETC., ARE SATISFIED.

  2. vswami says:

    ONE’S IMPROMPTU REACTION, A VERY VIOLENT ONE AT THAT,  IS, – “NO; NOT AT ALL”
    SUCH A REACTION IS STRONGLY FOUNDED ON, HAVING REGARD TO THE UNSAVORY, UNETHICAL POTENTIALS THE MOVE , MINDLESSLY MADE, ENTAILS.
    FOR AN APPRECIATION, OF THE VALIDITY OF THE FEAR BEHIND, ONE MAY HAVE  TO  STUDIOUSLY GO THROUGH THE  VIEW POINTS PUT ACROSS  THROUGH  PUBLISHED ARTICLES – 
    (2005) 128  Comp. Cas pg. 1
    (2006) 65 SCL pg. 42

    >may be contd.

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