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Change in Private Ltd Company - Change Objective/Activity

Change Objective/Activity

Eazy Startup is your one-stop online destination for diverse services like – income tax filing, GST registration, company registration and much more. Eazy Startup can aid you amend Memorandum of Association of a company from Rs. 6899/-

Alteration of Memorandum of Association

Whenever there is any change to the name of the company, main object, situation of registered office or authorized capital or liability of a company, the Memorandum of Association of a company required be changed. Eazy Start-up advisors will assist and support for effecting amendment in Memorandum of Association in due compliance with provisions of Companies Act, 2013. The applicable charges subject to the purpose of the change.

Major Clauses 

Object Clause

A Lawful Object can be stated and implemented in the Objects clause of the Memorandum of Association, whether or not a company engages in the activities mentioned. From a legal point of view, any activity that has not been expressed in MOA would be considered ultra-vires, i.e. beyond the powers of the company, even if it is considered offensive.

Name Clause

The Companies Act, 2013 states that a company must not be registered with an undesirable name. The name of the company must be stated with the last word 'Limited' in case of a limited liable company and with the last two words 'Private Limited' in case of private limited company.

Liability Clause

The Memorandum of Association must state whether the company is limited by shares or by guarantee, and it must state weather the liability of its members is limited. A company must get written consent to increase the liability of its members.

Situation Clause

The Memorandum of Association must mention in which State the office of the company shall be located. The location of the company must be stated for determination of jurisdiction of Court, tax authorities and ROC.

Capital Clause

The MOA of a company comprising of share capital needs to exhibit the amount of share capital which registration of the company is directed and the division of shares of fixed value.

Process

Advisory

A Business Expert will review the present and proposed MOA of company and the Articles of Association to understand the background of the Company prior to beginning the process. The review would take 1-3 working days.

Documentation

With your consent and understanding of the procedures involved in amending a MOA, our Experts shall draft the necessary documentation to commence the procedure.

Filing

Once the Board Resolutions are passed, we shall prepare and file all the necessary documents with the Ministry of Corporate Affairs in order to complete the MOA Amendment.

To affect the resolution for any alteration will take average of 10-15 days’ time to file an  amended Memorandum of Association which is further, subject to government processing time and client document submission.

Get a free consultation on procedure for amendment of memorandum of association by scheduling an appointment with an Eazy Startup Advisor.


FAQ'S

Q: Are MOA and AOA mandatory for an organization?

A: Yes, every company should possess both of these documents as they are essential and define the objectives, vision, mission, nature, guidelines, directors, shareholders details of the Company.

Q: Documents required for increasing the Change or alteration in Objectives.

A: Following are the documents required for Change or alteration in Objectives.

  •  Notice regarding Extra ordinary general meeting
  •  Special resolution, attested true copy
  •  Board meetings and EGM Minutes
  •  MOA attested
  •  Identity and address proof of all the directors of the company
  •  Register of attendance of Board and general meetings.

Q: How long it will take to complete the process?

A: We at EazyStartup help you to Change or alteration in Objectives in 20-25 days.

Q: Is there any need to change the name in order to alter or change the MOA amendment?

A: There is no need of changing the name of the company in order to make changes or alter the MOA as they are not mutually reliant. But if the name does not match with the objectives after alteration, then it is required to change the name of the company.