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Do you wish to change the Objects of Company?

Open uri20170510 32134 7ezpi6?1494421819 jaggu asked almost 3 years ago

Hi I am planning to write CA exam. I am having doubt about company law. May I know, Do you wish to change the Objects of Company?

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6 Answers
Avatar 37a3bd7bc7328f0ead2c0f6f635dddf60615e676e6b4ddf964144012e529de45 veeru answered over 2 years ago

Section – 13 read with rule 29 of Companies (Incorporation) Rules, 2014 1.This Article contains the procedure for change in Object clause of the Company Under Companies Act, 2013 with detailed documentation required. 2.After incorporation of a company, it may want to change object clause. This requires alteration in the MOA of the company and section 13 of the Companies Act 2013 covers the same. 3.Company can alter its object clause by way of addition, deletion, modification, substitution

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Avatar 37a3bd7bc7328f0ead2c0f6f635dddf60615e676e6b4ddf964144012e529de45 veeru answered over 2 years ago

1.This Article contains the procedure for change in Object clause of the Company Under Companies Act, 2013 with detailed documentation required. 2.After incorporation of a company, it may want to change object clause. This requires alteration in the MOA of the company and section 13 of the Companies Act 2013 covers the same.

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Avatar 37a3bd7bc7328f0ead2c0f6f635dddf60615e676e6b4ddf964144012e529de45 CA Sandeep Bohra answered almost 3 years ago

> Change in the Objects of Company **PROCESS OF ALTERATION IN OBJECT CLAUSE UNDER COMPANIES ACT- 2013** **Section – 13 read with rule 29 of Companies (Incorporation) Rules, 2014** 1.This Article contains the procedure for change in Object clause of the Company Under Companies Act, 2013 with detailed documentation required. 2.After incorporation of a company, it may want to change object clause. This requires alteration in the MOA of the company and section 13 of the Companies Act 2013 covers the same. 3.Company can alter its object clause by way of addition, deletion, modification, substitution, or in any other way, only if it wants: - `STEPS FOR ALTERATION IN OBJECT CLAUSE OF MEMORANDUM OF ASSOCIATION: **STEP-1** Convene A Board Meeting: To alter the object clause in memorandum of association of Company By giving Notice of at least 7 days. **STEP: II** Hold the Board Meeting: At the Board meeting, the given resolutions must be passed:- Get Approval to change in the objects clause and recommending the proposal for members’ consideration by way of special resolution. Fixing the date, time, and venue of the general meeting and authorizing a director or any other person to send the notice for the same to the members. Provisions of the Section 101 of the Companies Act 2013 provides for issue of notice of EGM in writing to below mentions atleast 21 days before the actual date of the EGM : All the Directors. Members Auditors of Company The notice shall specify the place, date, day and time of the meeting and contain a statement on the business to be transacted at the EGM. **STEP-III** Convene a general meeting: Check the Quorum. Check whether auditor is present, if not. Then Leave of absence is Granted or Not. (As per Section- 146). Pass Special Resolution.[Section-114(2)] Approval of Alteration in MOA & AOA. **STEP-IV** Filing and fees: I) File FORM NO. MGT-14 (Filing of Resolutions and agreements to the Registrar under section 117) with the Registrar along with the requisite filing within 30 days of passing the special resolution, along with given documents:- 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; A printed copy of the Altered Memorandum. STEP-V Follow up: I) The Registrar shall then accordingly register the alteration and issue a certificate which will be the conclusive evidence that all the requirements with respect to the alteration have been duly complied with by the company. II) The alteration shall be complete and effective only on the issue of certificate by the Registrar. III) If the special resolution is not filed within 30 days from the date of passing of such Resolution, then additional fees will be levy as per Companies Act- 2013. IV) Incorporate the alteration in every copy of the memorandum. **Note: As per Companies Act-2013 Ministry Prescribed new sets of Memorandum of Association as per sections of Companies Act, 2013. So it is advisable to adopt New sets of Memorandum of Association of company at the time of Alteration in Object Clause of Memorandum of Association.**

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Picsjoin 2017224123730582 Archana answered almost 3 years ago

Hie Jaggu, - In case company wants to change its object clause, it can do so by filling passing necessary resolution and the same needs to be filed in **Form MGT-14.**

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Open uri20170510 32134 1uwcnoc?1494421631 Shubhangi Jain answered almost 3 years ago

**A company may, by special resolution, alter the provisions of its memorandum so as to change the objects of the company so far as may be required to enable it-** (a) to carry on its business more economically or more efficiently, or (b) to attain its main purpose by new or improved means, or (c) to enlarge or change the local area of its operations, or (d) to carry on some business which under existing circumstances may conveniently or advantageously be combined with the business of the company, or (e) to restrict or abandon any of the objects specified in the memorandum, or (f) to sell or dispose of the whole or any part of the undertaking or of any of the undertakings, of the company; or (g) to amalgamate with any other company or body of persons. The alteration of the provisions of memorandum relating to the change of the place of its registered office shall not take effect unless it is confirmed by the Central Government.

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Avatar 37a3bd7bc7328f0ead2c0f6f635dddf60615e676e6b4ddf964144012e529de45 jitendra etikala answered almost 3 years ago

In case company wants to change its object clause, it can do so by filling passing necessary resolution and the same needs to be filed in Form MGT-14.

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