MOA/AOA Amendment
All you need to know
To change the objects or aims and objectives of your business, you need to amend the Memorandum of Association. The MoA contains the object clause. This is not at all difficult. There’s a well-defined procedure for the same. For example, one mistake most companies make is to include several areas in the main objects. This will not be approved. For example, if you are in the IT business, you can cover all software services in the main objects, but other services, such as hardware, trading of related items must be included in ancillary objects.
Changes to the Memorandum of Association of a company would require the passing of a special resolution and shareholders consent. Other Changes to Memorandum can include changing the name of a company, changing registered office from state to state, alteration of objects clause, alteration of a capital clause or an increase of authorized capital.
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When Memorandum is to be Amended?
Points to make your decision easy
Object Clause Change
Whether the corporation engages in all of those activities or not, the only permissible objects are those that are specified and contained in the objects section of the memorandum of association. Any action that conflicts with the objects clause and isn't specifically listed in the memorandum of association would be seen as being outside the scope of the authority of the firm.
Name Clause
A limited company's name must finish in "Limited," while a private limited company's name must end in "Private Limited." A corporation cannot be registered with a bad name, according to the Companies Act of 2013.
Liability Clause
Whether a corporation is limited by shares or by guarantee must be specified in the Memorandum of Association. The Memorandum of Agreement must also state that each member's responsibility is restricted.
Situation Clause
The State where the company's registered office will be located must be included in the Memorandum of Organization. For the court, the GST authorities, the tax authorities, and the ROC to determine their jurisdiction, the company's domicile must be specified.
Capital Clause
The amount of share capital with which the business is being registered, as well as the partition of that capital into shares of set value, must be disclosed in the Memorandum of Association of a company with share capital.
MOA/AOA Amendment-Process Flow
5 Easy Steps
1
Submit Documents
2
Preparation of Resolutions
3
Preparation of Forms
4
Drafting of Revised MOA
5
Filing of Forms with MCA
