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Change in Object of Company

An Object is a important thing that is specified during the incorporation of the company in the Memorandum of Association. In certain cases there would be a need to change in the objective of the company. The objective can be in short termed as object in documentation for the Incorporation. The Memorandum of Association (MOA) of the Company consist the clauses like name Clause, Objective Clause, Registered office Clause, Liability Clause, Share Capital Clause. The above mentioned five clauses can be altered anytime with the help of a resolution passed to the board.

A General meeting has to be held and the resolution has to be passed, the notice regarding the same should be passed 21 days prior in writing with the suitable explanation to be provided along with it and to be sent to the board members. If the company is unlisted or public then there must be a ballot held and the favor must be given accordingly on which basis the votes are awarded for.

At Unilex Consultants we provide you a hassle free work process for object change which would be dealt by our professionals within a time frame of 3-4 working days and is subjective to governmental processing time. Our team takes care of the documentation and aids in provide you the realistic estimation of cost.

Benefits of changing object of the company


New Face

The change in the object of the company provides the new value in the market that the company is going to focus on.

Goals Defined

The goals will be set with the main and ancillary object where the ancillary would aid in accomplish the primary goal.

New Ventures

The brand will get attention as the paper ads are published and the public awareness would be given.

Documents for changing object clause of Company


Board Resolution

Special Resolution

Previous MOA/AOA

DSC of Directors

Proposed object clause

Notices/Explanatory Statement

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PACKAGES


Basic

3999/-
Inclusive all taxes

Object change of company having less than 10 lac turnover

Premium

5999/-
Inclusive all taxes

Object change of company having less than 50 lac turnover
50 copies of MOA/AOA

Standard

4999/-
Inclusive all taxes

Object change of company having less than 20 lac turnover
50 copies of MOA/AOA

Procedure for changing Object of the Company

1

Proposed Objects

As per the new business activity, our expert will draft new object clause for your MOA
2

Preparation of documents

Our expert will head towards preparing all the requisite documents for amending your MOA.
3

Object clause Approval

Once the application is scrutinized, the company objects gets changed and new MOA can be printed.

FAQ’s About Change in Object of Company

  • Can the object be changed without General Meeting?

    No that is not possible as the shareholders are considered as a integral part of the company and its growth, hence the General Cabin approval is as important as the Board Meeting.
  • What are the things a General meeting should contain ?

    1. The money transactions done.
    2. Reminding Money.
    3. The actual change to be induced.
    4. Reasons for the change to be introduced.
    5. The burn in cost to be spent for the new object.
    6. The insight for the new plan.
  • What are the clauses divided into ?

    • Name Clause
    • Registered Office clause
    • Object Clause
    • Liability Clause
    • Capital Clause
  • What is a MOA ?

    A Memorandum of Association (MOA) is a legal document prepared in the formation and registration process of a limited liability company to define its relationship with shareholders.
  • What is an object clause?

    The Object clause is one the important thing that is mentioned in the MOA, it defines the primary niche and the business activity that a business belongs to. The object can be divided into primary and the ancillary object. The primary Object would remain the main focus and the ancillary object would act as a method to aid the company steer and achieve the primary object.
  • Why object change of company is done ?

    1. When the company needs to pivot to new activities.
    2. Incase the shareholders are not pleased with the current niche the company is in and the revenue generated in the company then if they need to venture into other stream, an object clause change is a must to stay legal.

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