Alteration of memorandum as per companies act, 2013

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Reema (Querist)

25 July 2014 This is in respect of Alteration of Object Clause of the Memorandum of Association [MOA] under Companies Act, 2013. While proceeding with the matter I am facing the following problems in terms of proper compliance of Section 13 of the Companies Act, 2013:

1. Company wants to add a new clause to the main object of the Company with a view to diversify its business activity in new line of business which it thinks will be a profitable venture.

2. We are not altering the entire set of our MOA under Companies Act, 2013 but only inserting a new clause to MOA to start a new activity as the concept of OTHER OBJECT has now been revoked and also my existing OTHER OBJECT clause does not carry this activity.

3. Therefore, if I file Form MGT -14 for Special resolution passed pursuant to section 13 of Companies Act, 2013 alongwith my existing MOA [which still carries MAIN OBJECT, ANCILLARY BUSINESS & OTHER OBJECT] , then will this create any problem in approving the Form?

Please suggest.

Rahul Malhotra

Rahul Malhotra (Expert)

26 July 2014 No, there is no problem if u change any clause in MOA under Companies ACT 2013 but that change must not be beyond the power of Companies ACT 2013

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