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Discussion > Corporate Law > Others >

Change in objects clause

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Practising Company Secretary

[ Scorecard : 72]
Posted On 07 December 2011 at 11:03 Report Abuse

Hi,

I am working in an NBFC.

The company is looking for a change in the Mian Objects Clause.

What would be the procedure and documentation taking into account Companies Act, 1956 and the RBI Act.



Total thanks : 1 times

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!..SaNKeT..!
!..Live to Give..!

[ Scorecard : 15024]
Posted On 07 December 2011 at 11:08

For change in objects, the following are the steps if the new objects do not upset your name
 

1. Hold Board meeting for approval of changed object and for notice for holding AGM and authorise one director or secretary to deal with RoC in this regard
2. Hold the general meeting and pass the special resolution
3. File form 23 with ROC with amended MoA
4. Get the form registered and get a certificate for registration
 

In case change in activity also results in name change, then first you apply for avaiability in form 1A and after taking the name availability, you can pass the name change resolution as well as object clause amendment resolution and then on file form 23

Good Day...





RG - A Helping Hand
Company Secretary

[ Scorecard : 13737]
Posted On 07 December 2011 at 11:14

For change in objects, the following are the steps, if the new objects are in sync with your company name:


1. Hold Board meeting for approval of changed object and for notice for holding GM and authorise one director or secretary to deal with RoC in this regard.


2. Hold the general meeting and pass the special resolution.


3. File form 23 with ROC with amended MoA for registration of SR u/s 192.

 
4. Get the form registered and get a certificate for registration.

 

if the new objects are not in sync with your company name:


In case the new objects are not in sync with your company name then first you have to apply for availability of name in form 1A and after taking the name availability, you can pass the name change resolution as well as object clause amendment resolution and then on file form 23.

 

For the inputs regarding your NBFC status wait for others comment.

 

RG



Total thanks : 1 times



Reema Jain
Practising Company Secretary

[ Scorecard : 72]
Posted On 07 December 2011 at 11:14

What about RBI compliances, if any ???




Parashar
Company Secretary 2004

[ Scorecard : 1003]
Posted On 07 December 2011 at 11:18

Agree with Rchank Garg




Member (Account Deleted)
CA Final Student

[ Scorecard : 1083]
Posted On 07 December 2011 at 11:19

Change in object clause is allowed if substantive limits of 17(1) is to be complied and rest follow thw above procedure



Reema Jain
Practising Company Secretary

[ Scorecard : 72]
Posted On 07 December 2011 at 11:20

That is the main thing now... coz Companies Act explains it easily ...

RBI Act is getting on nerves




!..SaNKeT..!
!..Live to Give..!

[ Scorecard : 15024]
Posted On 07 December 2011 at 11:25

There is no other compliance under the RBI Act, however, the change in objects must be intimated to the NBFC divn of RBI.




CA Maulik Rachh
-

[ Scorecard : 114]
Posted On 13 December 2011 at 15:25

Only provisions of CA,1956 applies here..No hinderence from Banking regulation Act..




saptarishimishra
Management Trainee

[ Scorecard : 36]
Posted On 05 May 2012 at 11:12

Thanks You for informmation.


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