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In relation to sec 181 and 182

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aman jha

18 Points Posted on 06 May 2020

if I have to make contribution to charity as per sec 181 or as per sec 182 I am making contribution to political party, whether it is necessary that I should have such thing in my object clause of MOA

Replies (3)

Quick Summary

This discussion clarifies whether a company's Memorandum of Association (MOA) requires specific clauses for making donations to charities (Sec 181) or political parties (Sec 182) under the Companies Act, 2013. The consensus is that such clauses are not mandatory. The Board of Directors can authorise these contributions via a Board Resolution, even without explicit mention in the MOA's object clause.

Harish choursiya

Student cs professional

249 Points Posted on 06 May 2020

As such there is no condition of having clause for donation or charity either u/s 181 or 182 of the Companies Act, 2013.

However some company may adopt modal article for making law more stringent to itself so it is OK

Conclusion - no requirement of object clause under MOA of the Company rather in MOA the active or ordinary course of business for which company is incorporated has been described.