Last updated: February 12th, 2018 4:24 AM

Procedure for Changing MOA Objects Clause

The objects clause mentioned in the company's MOA determines the purpose and scope of activities for which the company operates. During the company registration process, the shareholders decide the objects for which the company is formed. If there are changes to be made to the objects during the course of operations, shareholder approval and MCA approval would be required. In the article, we look at the procedure for changing objects clause of a company. You can also refer to the following article: How to change MOA objects clause.

Convening of a Board Meeting

To change MOA objects clause, first issue a notice for convening a meeting of the Board of Directors. Major agenda for this Board meeting would be the following:

1. To obtain the in-principal sanction of Directors for the alteration in object clause related to the Memorandum of Association (MOA).
2. Select date, time as well as place for conducting Extra-ordinary General Meeting (EGM) to obtain consent of shareholders, by means of Special Resolution, for alteration in object clause of Memorandum.
3. To render support to make notice of EGM all together with Agenda in addition to Explanatory Statement to be suitable as per the notice of General Meeting according to section 102(1) related to the Companies Act, 2013.
4. To sanction the Director or Company Secretary related to the issue Notice of the Extra-ordinary General meeting (EGM) as permitted by the board related to clause 1(c) above mentioned.
5. Present Notice of the Extra-ordinary General Meeting (EGM) to all Members, Directors as well as the Auditors of the company in agreement with the provisions as per Section 101 of the Companies Act, 2013.

Passing of Special Resolution

Conduct the