Change Objectives of your business

In order to get this change Objectives of your business approved, the Memorandum of Association must be very clearly and carefully amended.

Introduction

The objectives of a Company are set out in its Memorandum of Association, and it must work towards those objects only. Thus, as an illustration, a stationery company with the objective of selling/purchasing stationary cannot suddenly expand into the fashion industry. In order to change the direction in which a company is headed, the Object clause of the MoA must be changed as well. The RoC carefully scrutinizes the objects clause of a company, as an objects clause with the extremely broad effect would give the board expand anywhere.

Requirements for changing the objects of a company are tedious procedural steps, so leave the work of figuring them out to our experts by signing up for our Change Objective of your Company service today and spend your time working on the new direction that your company is pushing towards!

Procedure for Amendment of Object Clause

• The Board must call for a Meeting of the Shareholders.
• Special Resolution amending the Object Clause must be passed.
• Form MGT – 14 must be duly filled and filed within thirty days of the passing of the special resolution.
• Advertisement in the newspaper(in case of a Public Company).

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