Company law - regarding moa
Amit
(Querist) 23 May 2013
This query is : Resolved
I have recently read that one of a cricketer owned a company and the Memorandum of association of the company states that the company will do and run business of betting houses.
My query if betting is banned in India then how could the registrar of companies allowed the MoA and registered the company.
Is this a fault of Registrar of the companies?
Can betting house mentioned in the MoA and is it legal?
Thank you for your help,
Regards,
Amit
KIRAN AMARPURI
(Expert) 23 May 2013
Without looking at the MOA, it wont be possible to answer.
Amit
(Querist) 23 May 2013
This was in the news and the wording was as below:
According to S36's memorandum of association filed with the registrar of companies in Bengaluru, the company's main objectives are: “To run in India and/or abroad coaching centres, gymnasiums, health clubs, fitness centres, betting houses, indoor stadiums, sports physiotherapy centres, sports bars...“
KIRAN AMARPURI
(Expert) 23 May 2013
this clause is in the main objects of the company or other objects category, pl clarify
V R SHROFF
(Expert) 23 May 2013
Not your problem : Let co look after it's affairs.
R.K Nanda
(Expert) 23 May 2013
it is illegal.
DR.VEDULA GOPINATH
(Expert) 23 May 2013
dear learned colleage
Let me first read MOA of the company then I can comment and give advice
dr veduoa gopinath
advocate high court hydesrabad
9848227926
vgopinaqth2@yahoo.com
Raj Kumar Makkad
(Expert) 23 May 2013
MOA is a vital document which requires to be gone through first prior to commenting anything.
DR.VEDULA GOPINATH
(Expert) 24 May 2013
DEAR READERS
It is established fact that MOA AND AOA should not contain any provision which is forbidden by law.
MOA and AOA are deemed to be contracts among members and public at large.
Thus the object being illegal it is void.
As such Betting is banned and that object cannot be pursued by the company.
dr vedula gopinath 9848227926
ashutosh mishra
(Expert) 24 May 2013
From Quotes posted “To run in India and/or abroad coaching centres, gymnasiums, health clubs, fitness centres, betting houses, indoor stadiums, sports physiotherapy centres, sports bars...“
The deduction is that for words, betting houses,it would be VOID.if it has been registered by ROC without objection that shows working culture in govt.offices.,but it does not validate what law prohibits.At the same time it is good for valid clauses.
Amit
(Querist) 27 May 2013
Dear All learned experts,
Thank you for your replies on my query, except Lawyer V R SHROFF as he could not even understand the query properly, so could not answered back it properly like you all.
Anyways. such things happen.
Thanks again
Amit
Advocate Ravinder
(Expert) 27 May 2013
As per my expectation, in some foreign countries, betting is legal. I think the writer of the MOA might have copied a foreign draft and made corrections and an error might have occurred. It can be corrected by amending the MOA
R.V.RAO
(Expert) 23 March 2014
BUT who is asking for correction?
