Explanatory statement

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MURUGES (Querist)
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21 May 2012 Hi

I need a format for Explanatory Statement for passing special resolution to change the name of the company as per the direction from ROC

Ajay Mishra

Ajay Mishra (Expert)
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21 May 2012 Hi

Every company have different reason for change of name. So it can not be restricted.An example of explanatory statement is here under:

EXPLANATORY STATEMENT PURSUENT TO SECTION 173(2) OF THE COMPANIES ACT, 1956

ITEN NO.1

The Company plan to foray into multifarious activities which extend beyond films. Also the Directors being religious minded, propose this name with religious significance in mind. The Directors belief that the new name would help the company to bring positive energy thereby helping business to grow faster. Hence it is decided to shelve the word...... from the name of the Company and propose to change the name from .... PRIVATE LIMITED to ......... PRIVATE LIMITED.

The resolution as proposed is recommended for approval. None of the Directors are concerned or interested in the proposed resolution except to the extent that they hold any shares in the Company.

ITEM NO 2 & 3

After giving effect to resolution as proposed in item No.1 of notice it would be necessary to change the Clause I of Memorandum of Association of the Company and Clause 1(a) of Articles of Association of the Company. In any other documents wherever appear the old name be substituted by the new name ............. PRIVATE LIMITED.

The resolution as proposed is recommended for approval. None of the Directors are concerned or interested in the proposed resolution except to the extent that they hold any shares in the Company.

By Order of the Board
For ....... Pvt. Ltd.

Director

Date:
Place:

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