MOA object change in Vadapalani - Filingpoint
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The Filingpoint MOA of a company defines the purpose and scope of activities that a company can undertake. Alterations to the object clause of a company need to be made through a special resolution, and the approval of shareholders. The MOA should comply with the legal requirements of the jurisdiction in which the company is incorporated. Legal professionals or business advisors familiar with company law in the relevant jurisdiction can assist with drafting the MOA and ensuring that it is accurate and compliant.
The objects clause includes the areas of business a company can undertake to earn money (Main Objects) and areas ancillary and incidental thereto. It is against the law for a company to operate in areas outside the objects clause of its MOA, which is known as the doctrine of ultra vires.
Other provisions in the MOA include the name of the company, the registered office, the liability of the members, and the capital clause, which specifies the amount of capital registered with the Registrar of Companies (also called authorized/nominal/registered share capital). At least two subscribers are required for the formation of a private limited company, and seven or more for a public limited company. The MOA must be printed on non-judicial stamp paper of the requisite value and signed by at least two subscribers.
Under the current legislation, the MOA can be altered any time, however changes to the name clause, situation clause, ancillary or main object clause require the approval of shareholders through a special resolution. Alterations to the registered office clause can be done either by changing the existing address or shifting the company to another state.
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