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Change in objects clause

Practising Company Secretary


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.


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!..Live to Give..!



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...

 
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Company Secretary



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


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Practising Company Secretary


What about RBI compliances, if any ???

 
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Company Secretary 2004



Agree with Rchank Garg

 
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(Guest)

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


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

RBI Act is getting on nerves

 
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!..Live to Give..!



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

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

 
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Management Trainee



Thanks You for informmation.
 
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