Sec 25 Co.
Querist : Anonymous
In my opinion for altering the objects clause of a limited Company licensed under section 25 of the Companies Act,1956 you will have to obtain the approval of the shareholders by way of a Special Resolution and this will be further subject to the prior approval of the Central Government......
Hence, in addition to obtaining the approval of the shareholders by way of a Special Reslolution in the General Meeting of the Company you will also be required to obtain previous approval of the Central Government!
In case you fail to obtain the previous approval of the Central Government in writing to obtain the Objects Clause of the MOA, the license granted by the Central Government can be revoked.
This is based on my understanding of the provisions of the Companies Act, 1956 and the views / Comments of other eminent experts are also welcome:)
Querist : Anonymous
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