What is the significance of others object in the MOA?
This query is : Resolved
Ca Subhash Kumar
(Querist)
25 November 2009
What is the significance of others object in the MOA?
What should be written there? are there any busines that could not be written over there?
Can a company engage in other objects? How?
What is the significance of others object in the MOA?
What should be written there? are there any busines that could not be written over there?
Can a company engage in other objects? How?
25 November 2009
The other objects are those businesses that the company may carry on in future. It also contains those items which are general in nature and empower doing normal business activities.
The company cannot engage in a business as its major line of business without obtaining members approval.
The company cannot engage in a business as its major line of business without obtaining members approval.
CS Vandana Kacholia
(Expert)
26 November 2009
agree
Ankur Garg
(Expert)
26 November 2009
AGREE
Where an existing public limited company proposes to take up a new business, which is covered in the "other objects" of the Memorandum in the case of a company formed on or after 15-10-1965 or covered in the object clause of a company formed before 15-10-1965, the said business can be undertaken by the company only after the proposal is approved by the members by a special resolution.
Also check the link for connected article:
https://www.caclubindia.com/articles/article_list_detail.asp?article_id=3087&article_title=Formalities%20for%20starting%20a%20New%20Business
Where an existing public limited company proposes to take up a new business, which is covered in the "other objects" of the Memorandum in the case of a company formed on or after 15-10-1965 or covered in the object clause of a company formed before 15-10-1965, the said business can be undertaken by the company only after the proposal is approved by the members by a special resolution.
Also check the link for connected article:
https://www.caclubindia.com/articles/article_list_detail.asp?article_id=3087&article_title=Formalities%20for%20starting%20a%20New%20Business
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