Changing objectives of a Company

Change in Objective is done by altering the OBJECT Clause of Memorandum of Association. And it can be done by step by step as follow: Convene a Board Meeting, for calling EGM (Extra Ordinary General Meeting) Call EGM by serving notice with Explanatory Statement before 21 clear days.
Object clause mentioned in Memorandum of Association of a company explains–
1. Main business activity of the company (Main object)
2. Activities which are necessary for conducting the main business activity (Ancillary objects)
A company may want to change its main object or the ancillary objects. To get this done a company has to follow these steps:

Our Company Registration package includes the following:

  • DSC for one director and DIN for up to three directors
  • Drafting of MoA & AoA
  • Registration fees and stamp duty
  • Company Incorporation Certificate
  • Step 1 - Pass board resolution

    Pass a resolution at the board meeting to approve the object clause. A director or the Company Secretary of the company will be authorised in the meeting to sign, certify and file the required forms with the RoC. Also, the Board of Directors will fix a day, time and venue of Extra Ordinary General Meeting of members.

  • Step 2-Special resolution in EGM

    In the EGM, a special resolution will be passed by the members. Specific clause in passing special resolution If a company has raised funds from the public by issuing prospectus and possesses some unutilised funds out of those, it has to make some disclosures along with passing a special resolution.

    • The special resolution of the members will be obtained by postal ballot. A notice will be issued to the members which will contain the details –
    • Total money received (from public by issuing prospectus)
    • Total money utilized for the objects stated in the prospectus
    • Unutilized money out of the total money received by issuing prospectus
    • Details for the proposed change in the objects
    • Justification for the change in the objects
    • Amount proposed to be utilized for the new objects
    • Estimated financial impact of the proposed change on the earnings and cash flow of the company
    • Other relevant information

  • Step 3- MGT-14 to be filed with RoC

    Once the special resolution is passed at the EGM, the authorised director or the company secretary will file Form MGT-14 with the RoC. Along with MGT-14, other documents to be filed are–
    Certified copy of the special resolution
    Notice of Extra Ordinary General Meeting (EGM)
    Explanatory statement to the notice
    Altered Memorandum of Association

  • Issuance of fresh certificate of incorporation

    After receiving MGT-14, the RoC will examine the form, and if they are satisfied, they will register the change in object clause by issuing a fresh certificate of incorporation. Object clause change is not completed until the RoC issues a fresh certificate of incorporation.

  • Incorporating object clause in MoA and AoA

    Once the certificate of incorporation is received from the RoC, the object clause must be incorporated in all the copies of Memorandum of Association.

Site Visitors!

TaxFillingIndia: Legal Information for Indian businesses

Since 2011, ​TaxFillingIndia has been a one-stop solution for any business or entrepreneur looking for a lawyer, chartered accountant or company secretary. We have been particularly instrumental in ensuring startups are fully compliant with India's labyrinthine legal system. Over the past five years, the depth of our offerings, connection with reliable professionals, affordable prices and customer satisfaction has made us the largest online facilitator of legal services in India. We have already served over 120,000 customers and have a steadily growing network of over 1000 professionals from all the major cities (particularly the metros of Mumbai, Bangalore, Chennai, Delhi and Kolkata) on our online platform. In 2016, we launched way of working for legal professionals across India.

Starting a Business

Many founders are confused about what kind of entity to register when they start their business. Should it be a private limited company, limited liability partnership, partnership firm, one person company or a sole proprietorship. Each of these has very specific advantages and disadvantages. There is no one type for all businesses. A private limited company registration, for example, would be a good fit for any venture that will look for funding at a later stage. You can contact TaxFillingIndia for all the advice you need. We assure you of great service at a reasonable price. You can find a company name availability here.

Intellectual Property

In modern business, there is no other asset as valuable as intellectual property, and yet so many startups end up neglecting it. But this is surely not advisable, as trademarks, copyrights and patents ensure that you have sole rights to your creation, be it your brand, your designs or your inventions. At TaxFillingIndia, we are well equipped to handle all your IP requirements. We facilitate trademark applications in just three days, copyright registration for all your software, pictures, audio and video content, and can connect you to patent attorneys to conduct a patent search and file your patent applications. You can find a Trademark availability here.

Government Registrations

In India, you need a license for everything in business. Started a manufacturing business? You need a GST Registration and a Trade License. For a food business, you need an FSSAI license. Have employees? You need a Professional Tax registration and Shops & Establishments Act Registration. If that's not enough, you also need to file GST Returns and Professional Tax Returns.

Legal Documentation

The worst way to approach business is to just get into new partnerships and arenas without examining consequences. By getting a lawyer to draft contracts or agreements with new vendors, employees and investors, you're ensuring that you have all the downsides covered. At TaxFillingIndia, we connect you to lawyers who will deliver complex documents, from shareholders' agreements and founders' agreements to terms of service/privacy policy and non-disclosure agreements, at a reasonable cost in a few days' time. Well-known startups, such as Holachef and Big Basket, have chosen to connect with a lawyer through us for their documentation work.

Mandatory Compliance

It's not enough to have started a private limited company or an LLP. You need to comply with all the requirements of the Ministry of Corporate Affairs and Income Tax Act once you do. You need to inform them of every relevant change you make, whether it is adding a director, removing a partner or increasing authorised share capital. You also need to file annual returns and maintain your accounts. In the case of a private limited company, you even need them audited. At TaxFillingIndia, we facilitate all these services completely online. Which means you can engage a professional on retainer for the year and we'll ensure that all the formalities are completed for you while you focus on your business.

By continuing past this page, you agree to our Terms of Service, Cookie Policy, Privacy Policy, Refund Policy and Content Policies.

Please note that we are a facilitating platform enabling access to reliable professionals. We are not a law firm and do not provide legal services ourselves. The information on this website is for the purpose of knowledge only and should not be relied upon as legal advice or opinion.