Green Energy

What is the advantage of setting up a Sec-25 Co. versus a Pvt. Ltd. Co. for renewable energy in India?

We want to set up a renewable energy business in India that deals with manufacturing and distribution of products in this domain and also has a consulting front-end to advise clients on suitable energy conservation strategies. Is it better to set up a Section 25 company instead of a private limited company for this purpose? If so, why?

Forming a Company under section 25 of the Companies Act in India is forming another NGO for extracted maximum benefits for the purpose of taxation & other facilities which a normal Private limited Company will not be able to enjoy.
The business of use of renewable energy itself is one which the Government encourage & to add to the business with tag of social welfare or charities will be well taken by all government authorities in future.
The fact the trust members/promoters of the section 25 company should be minimum three in number which are usually all the family member of a family will not require big setup for this form of NGO, at the same time all the trust member of the section 25 company will be its employees holding various post & no need for sharing any dividend to its members, thus fulfilling the conditions of section 25 of the Companies Act but still making money out of the business as well enjoying other benefits such as tax etc.
You will be requiring services of an advocate for drafting as well declaring that, the memorandum and articles of association drawn up in conformity with the provisions of the Act and the rules made thereunder have been duly complied with, in respect of registration or matters incidental or supplementary thereto.

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This entry was posted on Sunday, January 22nd, 2012 at 4:53 am and is filed under Green Energy. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.