Registering a Business

Hi, Am a working professional in a pvt ltd company. My query is while working in the company can i register a business in my name. Is there any act/law which prohibits.

Thanks for your time and patience in answering this. more  

It depends on policy of your Company / Employer. Generally, most companies do not like that its employee does a private business while on role. So, check up with your Company / Employer. more  
Both legally and technically, starting business, formation of Company, ownership by working professional not advisable. Irrespective of product that the new business ventures, no employer would permit his employees to have business whole service.
In the event a employed professional would like to have an registered establishment, all it's right I.e. name of the owner, registration with all government agencies, signing power etc. should remain with wife,mother, father etc.
However, over a period of time, siblings, if any, can claim right, in the event ownership in favour of parents. more  
There should be no conflict of interest between your proposed business and your employer's business. But in all fairness you should inform your employer of your intention to start a business and how it will not affect your performance on the job.
Another alternative is to start a new business in the name of your wife if you are married and she has no objection. more  
So long as your service conditions of employment do not prohibit, you can. more  
Business opted not to cover items or components of the Products that are manufactured/ traded by the Company You are serving in. It means Your Business shall not be a sister concern or an ancillary. more  
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