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part IX of the companies act, 1956 (Corporate Law)

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This query is : Resolved

Author : Anonymous

( Author )
13 October 2010

Dear All,

Please advice me.

While preparing MOA & AOA of a private limited company under part IX of the companies act, 1956 which clauses should be added?



Thanks in anticipation


Ajay Mishra

( Expert )
13 October 2010

Necessary Changes for conversion of Partnership firm into a Joint Stock Company
1. See that the MOA of the newly incorporated company includes a clause permitting the company to acquire the undertakings of an existing business in its main objects clause.
2. See that the AOA of the newly incorporated company gives power to its directors to enter into agreements facilitating the acquisitions of business.
3. Where the company is already an existing company, see that MOA of the existing company includes a clause permitting the company to acquire the undertakings of an existing business in its main objects clause.
4. If the above mentioned clause is not there then first alter the object clause of MOA
5. Enter into an agreement with the directors of the newly incorporated company for facilitating the acquisition of the partnership firm.
MOA and AOA may be made for the company, which will be similar in all respect to a normal MOA & AOA except that it will be in agreement form. The company may alter the form of its by substituting the MOA & AOA in place of the deed of partnership, by special resolution.

Regards


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