MOA Amendment
The Company Can Alter Both MOA & AOA With The Prior Approval Of Shareholders In The General Meeting Of The Company. Change MOA & AOA Of Your Company Online. Call Now To Talk To Our Experts
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MOA Amendment required mandatory
Purpose of memorandum
- The purpose of having a memorandum of association is that the person outside the company must have a clear picture about the company:
- The shareholder intending to invest his capitals should know the complete details about the field he is going to put his risk on.
- Any other person who is planning to deal with the company is obliged to know without any doubt whether the contractual relation with the company he is considering to enter with is the one actually relating to the matter within the company’s corporate objects.
Pricing
(Simple & Clear Pricing. No Hidden Charges)
| Government Fee | Rs 0 |
| Professional Fees | Rs 1,459 |
| Goods & Service Tax | Rs 00 |
| Total Cost | Rs 1459 |
What is MOA
(All you need to know)
A Memorandum of Association of any company is a legal document that consist fundamental information required for the Incorporation of the company. It is also called the Charter of the Company. Companies may need to bring changes in the clauses of the company, for which alteration of Memorandum of Association is required. The MOA of a company outlines the company’s name, the physical address of registered office, names of shareholders, and distribution of shares.
1. Name Clause: It contains name of the company.
2. Object Clause: It contains business activities of the Company whether the company engages in all those activities or not
3. State Clause:
The Memorandum of Association must mention the State in which the registered office of the company will be situated.
4. Liability Clause: The Memorandum of Association must state whether the company is limited by shares or by guarantee.
5. Capital Clause: The Memorandum of Association of a company having share capital is required to show the amount of share capital with which the company is going to be registered, and the division therefor into shares of fixed value.
How Amendment of MOA becomes possible ?
There are following ways in which MOA of the Company can amended:
- By change of name
- By changing liability of the members
- By increase in Authorised share capital
- By change of registered office of the Company
- By change of main business object of the Company
Important points regarding amendment or adoption of a new memorandum of association
The capital clause of a company can only be altered if the same is authorised by its Articles of Association/AOA.
When altering the liability clause of the MOA, a copy of the resolution approving the change needs to be filed with the registrar within 30 days. While the liability clause can be altered to change the liability of the directors of the Company to unlimited, the same cannot be done for the liability of the shareholders.
When altering or amending the situation clause of an MOA, The company is required to furnish proof/verification of its new registered office within a period of 30 days. This verification has to be done in INC-22.
No alteration in the Memorandum of Association in case of a company that is limited by guarantee or does not have a share capital, can grant non-members of the company the right to participate in the company’s divisible profits.
While altering the MOA, it is possible that the registrar of companies asks you to adopt a completely new MOA and Articles of Association in line with the Companies Act, 2013. This applies to companies that were incorporated before the new act came into being; the reason being that there has been a change in the format of the MOA under the new act.
Procedure For Alteration Of MOA:-
Hold board meeting and pass the board resolution for: Adding or changing the business activity; or Any other changes; and Authorize a director for taking all the necessary steps for completion of passed resolution For calling a general meeting for taking shareholders’ approval.
Convene the general meeting and pass the member’s resolution for the alteration of MOA
After taking approval from the shareholders in the general meeting the company has to file required forms to the registrar within the specified time limit.
If the registrar is satisfied with the application of the company, then he will provide his approval and after the approval, it will be updated in the MCA database.
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Frequently Asked Questions
On which grounds the MOA can get altered?
The MOA can be altered for any ground like:
1. Name change of company
2. Address change of company
3. Capital change of company
4. Business activity change
5. Liability change
6. Nominee change or any other alteration except the details of the subscriber means the details of the subscribers cannot get changed during the life of the company.
Can the MOA get altered without the approval of shareholders?
Each category of business require documents according to its category. However, the basic documents required in each case are: ID-proof, Address proof, business registration proof, bank details, passport sized photographs, etc.
How much time is needed for Amendment of Memorandum of Association?
Amendment of Memorandum of Association usually takes 2-5working days subject to the approval of the Central Govt. and the receipt of documents from the clients.
What are the documents required for Amendment of Memorandum of Association?
Click on Get Quotation tab above and fill the details, you will receive required documents list and quotation in few seconds in your mailbox. No charges for requirement list and Quotation.
For what purpose the Memorandum of Association is amended?
The Memorandum of Association is amended for the following purposes; When the name of the Company is changed; or registered office address is changed from one State to another; or when the Main Object of the Company is changed; or When the Authorized Share Capital is either increased or subdivided or consolidated; or When the liability of the members of the Company is changed
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