This NOC is issued by a group of promoters in order to grant permission to one of the
promoters to join any other business. This agreement is required in case a promoter
wants to allow one of the other promoter to work or associate with another
organisation while continuing to be the promoter of the existing company. This NOC legally permits the promoter to work for both the organisation.
The NOC can be made legally enforceable if it contains the signature of the
authorised signatory chosen by other promoters on company's letterhead.
This agreement can be used if any of the following permissions are to granted
to one of the promoters:
1.start his own business
2.consult another business
3.work for another company