Change in Business Object of Company
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Business Objective defines everything and anything that a Company can do under its structure. The Main business object plays a vital role as it provides the scope of the business. The Company cannot operate any business which is not mentioned under the main object of the Company. Due to any reason the company may think to change the business in that case, the changes need to be approved both by Members and ROC.
As Business Object is mentioned in the MOA, change in the business object will lead to Amendment in MOA.
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Process for change in business object
- Collection of information and documents
- Drafting of documents
- Amendment in MOA
- Filing form with MCA
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Change in Business Object of Company
The necessary filings should be in 30 days of passing shareholders’ Approval.
There is a different process which needs to be done for Change in Name; hence it is possible to change the name along with a change in the object by following different process.
MOA contains the Main object clause hence any change in the object will lead to an amendment in MOA in object clause.
Yes, it is mandatory to inform any changes in the object of the Company.
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