Pranay Patel (Practicing Company Secretary Corporate Consultant Business Advisor) (163 Points)
27 May 2010Dear Members,
If a Company registered u/s 25 of the Companies Act, 1956 wants to alter its main objects then what will be the procedure.?
Is there the approval of RD is required?
Thnx in anticipation
Pranay Patel
CS Puja Agrawal
(Service)
(52 Points)
Replied 27 May 2010
According to S 25(8)(a) of the Compannies Act 1956 any alteration in the memorandum of shall be only with the previous approval of Central Government signified in writing.
Also one of the conditions for grant of licence under this section is that the company shall not alter its object clause without the prior approval of the Central Government in writing. The licence issued by the Regional Directors normally contains the prohibition regarding amendment of any clause of Memorandum of Association without their previous permission.
CS Puja Agrawal
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