1. Mention in the Memorandum of Association (MoA)

• The Objects Clause of the Memorandum of Association (MoA) must list all intended business activities
  
• The company can engage in any number of businesses that are clearly defined under main, ancillary, or other objects
  
• Activities not mentioned in the MoA are not permitted unless the MoA is amended
  

2. Board and Shareholder Approvals

• If a new business activity is outside the scope of the existing MoA, the company must:
  
  • Pass a board resolution
    
  • Obtain shareholder approval via special resolution
    
  • File Form MGT-14 with the Registrar of Companies (ROC)
    

3. Licensing and Regulatory Compliance

• Each business activity may require specific licenses or registrations (e.g., GST, FSSAI, import-export code)
  
• The company must comply with sector-specific regulations for each line of business
  
• Applicable tax registrations must be updated or applied separately as needed
  

4. Accounting and Record-Keeping

• Separate books of accounts should be maintained for each business activity
  
• Helps in clear financial reporting, tax filing, and regulatory audits
  
• Facilitates better decision-making and operational transparency
  

5. Naming and Branding Flexibility

• The company name need not reflect all business activities
  
• For distinct branding, the company may register trade names or trademarks for different business lines
  
• Alternatively, subsidiary companies can be formed for highly distinct ventures