Change in clause of aoa
This query is : Resolved
Nirav Pasad
(Querist)
07 September 2013
What is the procedure to change the definition clause of the AOA for company registered u/s 25 of Companies Act,1956? Also provide me with the necessary forms or approvals, if any required for the same
Ajay Mishra
(Expert)
09 September 2013
• RESTRICTION ON ALTERATION OF MEMORANDUM AND ARTICLE OF ASSOCIATIONS
A company licensed under this section can not alter any provisions of its memorandum in respect of its objects, except with the previous approval of the Central Government. If the alteration comes within any of the clause of sub-section (1) of section 17, the provisions of that section must be complied with inter alia, by obtaining the approval of CLB.
The Regional Director exercising the power of Central Government had while issuing the licence to the company under section 25 of the Companies Act, 1956, may provide that no amendment shall be made to the Memorandum and Articles of Association of thecompany without the prior approval of the Central Government, {C.R. Singhania Vs Garware Club House (2003) 57 CLA 422(Bomb)}
• RESTRICTION ON ALTERATION OF MEMORANDUM AND ARTICLE OF ASSOCIATIONS
A company licensed under this section can not alter any provisions of its memorandum in respect of its objects, except with the previous approval of the Central Government. If the alteration comes within any of the clause of sub-section (1) of section 17, the provisions of that section must be complied with inter alia, by obtaining the approval of CLB.
The Regional Director exercising the power of Central Government had while issuing the licence to the company under section 25 of the Companies Act, 1956, may provide that no amendment shall be made to the Memorandum and Articles of Association of thecompany without the prior approval of the Central Government, {C.R. Singhania Vs Garware Club House (2003) 57 CLA 422(Bomb)}
Nirav Pasad
(Querist)
10 September 2013
what is the procedure for if in MOA its not mentioned that "Any alteration so made be as valid as if originally contained in the Articles of Association and be subject to alteration by Special Resolution as above."
what do we mean by approval from company law board and its procedures to obtain the same?????
what do we mean by approval from company law board and its procedures to obtain the same?????
Nirav Pasad
(Querist)
11 September 2013
Period within the procedure needs to be completed?
Ajay Mishra
(Expert)
11 September 2013
No period is specified.
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