Our team of qualified company secretary will look after this process and will guide you from giving notice of board meeting to getting fresh certificate of incorporation. All the process will be accomplished keeping in mind the rules and regulations of companies act. Feel free to ask more queries.
The company is incorporated with a particular object. The object defines the area of activity of company. After incorporation, if company wishes to alter the object with which it was originally incorporated, then they can do so by following prescribed procedure under companies act. Changes in object clause requires alteration in companies main charter documents “Memorandum of Association”. The MOA contains the clause related to object of company.
The object clause specifies the activities, business operations, and purposes for which the company has been incorporated. It acts as a legal boundary that determines what the company can and cannot do in terms of business activities.
Object can be defined as an fundamental activity for which company is being incorporated. There are two kinds of object.
The first ever step in altering the object clause is to get the consent of board of directors by holding a board meeting and passing the resolution consenting the alteration in object clause and appointing one director to authorize every forms required to carry out this process. In the board meetings, members of boards decides the time place and date of extra ordinary general meeting to be called next for getting approval of members.
For alteration of object clause it is compulsory to acquire the consent of members through AGM if coming in near future or by conducting EOGM. The company needs to pass special resolution in EOGM seeking the consent of members to alter the object clause of company.
Within 30 days of passing special resolution, company needs to file form MGT-14 intimating the special resolution passed by company to concerned ROC.
On examining the form MGT-14, If ROC finds it correct in all respect than it will issue fresh certificate of incorporation.
The modification of the object clause stands as a fundamental necessity to guarantee:
