Change in Objectives (MOA)
Complete Solution - Documentation, Filing, Approval
The Memorandum of Association (MOA) of a company has object clauses that determine the purpose and range of activities of a company.Shareholder approval and MCA approval would be required for changing objects clause of a company.
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How to Get Change in Objectives of a Company Done Online?
TaxMyTax helps you to change the object clause of your Company in three easy ways.
Understanding
One of our team member helps you to understand the basic concept and the process we followed.
Submission of Documents
On submission of documents we verify all the documents and proceed for the next step.
Approval
We help you to draft supporting documents and upload the forms for MCA Approval.
General Overview
Reason
Procedure
Required Documents
Why Choose TaxMyTax?
General Overview
General Overview
Memorandum of Association (MOA) is the charter document of a company, which governs a company. A company is authorised to do only those activities which are mentioned in the MOA of the company. This document, however, can be amended at any time. There are various clauses in MOA of a company. These clauses comprises of location of the company, objectives of the company, capital of a company. Object Clause is the Clause which determines the purpose and range of activities of a Company which it can undertake during its life time . A Company in order to expand after incorporation of a Company may change the object clause. A Company can alter its object clause either by way of addition, deletion, substitution, modification or in any other way, only if it wants. During the company registration process, the shareholders decide the objects for which the company is formed. If there are changes to be made to the objects during the course of operations, shareholder approval and MCA approval would be required.
Reason
Reasons for Alteration of the Object Clause of Memorandum
- To carry on its business more economically or more efficiently
- To attain its main purpose by new or improved means
- To enlarge or change the local area of its operations
- To carry on some business which under existing circumstances may conveniently or advantageously be combined with the business of the company
- To restrict or abandon any of the objects specified in the memorandum
- To sell or dispose of the whole or any part of the undertaking or of any of the undertakings of the company
- To amalgamate with any other company or body of persons.
Procedure
Procedure
1. Send notice to the Board of Directors and call a meeting of Board of Directors to obtain the in-principal sanction of Directors for the alteration in object clause related to the Memorandum of Association (MOA)
2. Hold a meeting of Board of Directors and lay down the following documents for approval by the Board of Directors:
2. Hold a meeting of Board of Directors and lay down the following documents for approval by the Board of Directors:
- Amended Memorandum of Association of the company.
- Notice to call General meeting of the company along with an explanatory statement. Also, seek authorisation from Board of Directors to send the notice to shareholders/member.
3. Send Notice to shareholders/members of the company (before clear 21 days)
4. Convene General meeting of the company and pass a special resolution for approval of amended Memorandum of Association.
Note:- General Meeting can be Extraordinaryy General Meeting or Annual General Meeting as the case may be.
5. File special resolution in form MGT 14 with the Registrar of Companies along with the altered copy of the memorandum of association and other relevant documents with the Registrar with the filing fee.
Thereafter, the Registrar shall, if no discrepancy is found, register alteration of the MOA with respect to the objects of the company and certify the registration within a period of thirty days from the date of filing of the special resolution with the registrar.
4. Convene General meeting of the company and pass a special resolution for approval of amended Memorandum of Association.
Note:- General Meeting can be Extraordinaryy General Meeting or Annual General Meeting as the case may be.
5. File special resolution in form MGT 14 with the Registrar of Companies along with the altered copy of the memorandum of association and other relevant documents with the Registrar with the filing fee.
Thereafter, the Registrar shall, if no discrepancy is found, register alteration of the MOA with respect to the objects of the company and certify the registration within a period of thirty days from the date of filing of the special resolution with the registrar.
Required Documents
Documents required to change the object clause
- Certificate of Incorporation
- ID Proof and Residence proof of all directors
- Certified True Copies of the Special Resolutions along with explanatory statement;
- Copy of the Notice of meeting send to members along with all the annexure
- Copy of Altered Memorandum Article of Associations.
- Copy of Attendance Sheet of General Meeting /Register of board and general meeting
- Shorter Notice Consent, if any
Why Choose TaxMyTax?
We help you to change the object clause of MOA of your company with complete online support. You need not to step outside your home and we guide you to enter into the business world hasselfree. At TaxMyTax, our team helps you to understand the concept and documentation require in to change the object.
- Documentation as per Companies Act 2013
- Get Memorandum altered for object clause
- Dedicated Team
- Time required: 3-4 working days
- 100% Online Process
Frequently Asked Questions
The object clause of the Company is the third clause of memorandum of association of any Company stating the objects i.e. the business/purpose for which the Company is incorporated and any other matter considered necessary in furtherance thereof
Yes, Form MGT 14 is required to be filed with ROC if a special resolution is passed for such amendment
Yes, it is necessary to attach the physical MOA and AOA with the Form MGT-14 for the alteration of MOA under this particular circumstance.
No, the subscription clause is not subject to alteration in the MOA. The subscriber sheet that is used during the incorporation of the company is valid for a lifetime, and one is not allowed to make any further changes in it.
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