MOA object change in Vadapalani - Filingpoint

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Filingpoint Memorandum of Association (MOA) is the charter document defining the company principals, objectives and goals. It acts as a foundation document for any type of incorporation and registration. MOA also outlines the scope of activities that the company can undertake and thus is binding on the Company. Therefore, any alterations to the MOA need to be in accordance with provisions of law.

Changing any clause in the MOA entails convening a board meeting and a general meeting, obtaining consent for the special resolution, and filing the required forms with the Registrar of Companies. The process varies depending on the type of change being made to the MOA: Whether it is to alter the name, registered office, object clause, or capital clause.

Among the different clauses in a MOA, the most important is the object clause, which lists the main business activities that the company is authorized to engage in. If a company wishes to alter its object clause, it needs to follow the steps listed in Rule 9 of the Companies (Incorporation) Rules, 2014.

The other major section in a MOA is the subscription clause, which lists the names, addresses and occupations of the subscribers who signed the document. The subscribers need to confirm that they wish to form a company and agree to take up shares. The MOA should also state if the company will be limited by shares, by guarantee, or unlimited. The clause should also indicate the amount of capital the company is authorized to raise. Altering the capital clause can only be done with approval from shareholders through a special resolution.

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