Alteration of memorandum as per companies act, 2013

This query is : Resolved

Reema (Querist)
Follow

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Act, 2013 but only inserting a new clause to MOA to start a new activity as the concept of OTHER OBJECT has now been revoked and also my existing OTHER OBJECT clause does not carry this activity.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)
Follow

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

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Summarize this with AI

ChatGPT Perplexity Claude Google AI Grok