About MOA Amendment
A Memorandum of Association of a company is very vital document for the incorporation of a company which is often referred to as the constitution or the charter of the company. Memorandum of Association is a document that is to be formulated and signed by the founder members of the company on the registration as well as the establishment of the company. Various details such as the details of the initial shareholders, name of the company, the state in which the company is located, the purpose of the formation of the company, authorized capital (in case if there is any), and the liability of the members. In a simple sentence, we can say that MOA is the document with collection of clauses that defines the scope of a company. The changes to the Memorandum of Association can be affected through a special resolution, which should be notified to ROC through its necessary prescribed form.
General reasons for MOA Amendment
In general or in most of the cases, the prime reasons for MOA Amendment may be as follows:
- Change of name of the company.
- Change of the objective of the company.
- Change of registered address of the company from one state to other across different ROC.
- Change in the authorized share capital of the company.
- Alteration in the liability of the members of the company.
- Change in any further necessary matters of the company.
Procedures for MOA Amendment
- Convene the meeting of board of directors with the agenda of MOA Amendment and drafting of resolution. To decide the date, time, venue of an extra ordinary general meeting and prepare to issue notices at least 21 days prior to the EGM.
- To pass the special resolution and get approval for alteration in the MOA of the company with the consent of at least majority in number.
- Within the 30 days of passing the resolution, company has to file the necessary form ( Form MGT-14) with ROC notifying the MOA Amendment.
Necessary documents for the process
- MOA and AOA of the company.
- Incorporation Certificate.
- Certified true copy of special resolution.
- Copy of notice of EGM.
- Copy of altered Memorandum of Association.
Smooth MOA Amendment process with TRUSTLINK
After proper study of MOA and AOA, we recommend the necessary amendments and its viability. We help you draft the resolution for the EGM and drafting of the alterations of the MOA. The filing of MOA Amendment with ROC may take 10-15 days depending upon the government processing.
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