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AMENDMENT OF COMPANY OBJECTS

 

A company can amend its objects in Memorandum of Association (MOA) subject to compliance with company law provisions.

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Overview – Amendment of Company Objects

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OVERVIEW

A company can amend its MOA subject to compliance with company law provisions. There are specific provisions that govern the amendments of different provisions such as name of a company, objects, capital, etc.

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A company is only authorized to conduct business activities provided in objects clause of the company’s MOA. Any business outside the scope of the activities in the MOA is illegal and beyond the power of the company. However, company laws allows it to alter its activities by adding or deleting objects in the MOA.

Amendment of Company Objects – Requirements


Place order online

 

Complete E-Lawyering Interview

 

Create Board Meeting documents and Resolutions

 

Sign the Board documents

 

File the documents to ROC for change in Objects

 

Process for Change in Company Objects


Board Meeting

Convene a Board Meeting to call for a General Meeting.

General Meeting

Conduct the General Meeting and pass the resolution for amendment of the objects clause.

Minutes of the meeting and Resolutions

Prepare the minutes of the meeting and get the process/documents vetted by certified CS / CA / CWA professionals.

Filing MGT-14 with Registrar

File the copy of resolution in Form MGT-14 certified professionals with the ROC within 30 days of passing the resolution.

Certificate for the alteration of objects.

Certificate for the alteration of objects. The ROC shall register the resolution and will issue a certificate for the alteration of the company’s objects.

Documents Required


Board Meeting

 

  1. Notice of Board Meeting
  2. Board Meeting Attendance Sheet
  3. Minute of Board Meeting
General Meeting

 

  1. Notice of General Board Meeting
  2. General Meeting Attendance Sheet
  3. Copies of Resolutions for Filing
ROC filings

 

  1. Form MGT-14 – Copies of Resolutions
  2. Sectoral approvals, any

Amendment of Company Objects – Memorandum of Association


Company Name and Objects

New object must be in line with name if the objects

Sectoral Approvals

Obtain approval from sectoral regulators, if required

Approval from ROC

On filing of Resolutions and related documents, ROC shall approve and a certificate will be issued

What is Memorandum of Association (MOA)?
What is Memorandum of Association (MOA)? MOA is the charter document of a company. A company is created by registering the MOA.
What are the objects of a company?
The objects of the company are described in the MOA. It is classified as main objects, incidental object and other objects. A company cannot pursue any objects that are not described in the objects clause of the MOA.
Who can amend the objects of a company?
Shareholders can amend the objects of a company by a ¾ majority vote.
Do the objects have to be reflected in the company name?
No, the company name need not be indicative of the objects of a company. However, if the name contains any particular activity-related words, it is advisable to have such activity included in the objects clause, failing which the company name becomes misleading.
Is any approval required for amendment of objects clause?
Approval from the Government of India is not required for amendment of the objects of a company. The decision of shareholders is final and the changes will be effective from the date of resolution.

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