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Change Your Objectives of Business Comfortably
Want to change your business objectives?Use India's most trusted platform. Zolvit's experts will amend your company’s goals in your MoA easily and quickly!
Here’s How It Works
Want to alter your business objectives? Get Zolvit to do your bidding!
1
Connect with a Zolvit expert
2
Primary and secondary objectives prioritised by experts
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Experts file all required forms for altering the objectives
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Experts deal with the government on behalf of you
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Move forward with renewed business objectives
Excellent service and support. Vakil Search Team is very supportive and professional. I Really appreciate the service and support from the team.
Rachna Pathania
Founder & CEO of SchnellTek Software Pvt. Ltd.
Zolvit has been our legal service provider for quite a long time! Our experience with them has been great, especially the speed and proficiency with which they deliver their services. We recommend them!
Satya Vasireddy & Sravani Vasireddy
Founders of Lovely Chocos
Zolvit is exactly what it does. Legal is simple. We went to Zolvit to register our Trademark during the lockdown and everything was done online with ease. We never even had to step out of the house. It was truly a digital experience.
Adarsh Agarwal
CEO & Developer of Golghar.com
Here’s What You’ll Need
Once you have the below documents ready, submit them digitally to change your company’s objectives. Zolvit uses the best-in-industry security protocols to ensure your documents are always secure.
Notice of EGM
True copy of the special resolution, attested
Minutes of the board meeting and the EGM
A true and certified copy of the board resolution (optional)
ID proof of all the company's directors
Address proof for all of the company's directors
Board and general meeting attendance sheets or registers.
Why Should I Use Zolvit to Change my Business Objectives?
New Company
We Register a New Company Every 9 Minutes
50,000+
Businesses Served by Zolvit
Financial Services
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Quick & Affordable
Nominal rates, great turnaround time
Satisfaction
100% satisfaction guaranteed
A strategic business plan that evolves as your business grows. Re-align your company’s objectives without a hassle with the help of the experts at Zolvit!
Did you know?
A memorandum of association defines the scope of the company's operations, the goals for which it was founded, the extent of its authority, and its interaction with the outside world. It is also known as the company’s charter.
A company's articles of association (AoA) contain the rules or bye-laws and regulations that control or govern how its business is conducted and how its internal affairs are managed. The AoA of a company is subordinate to and governed by the MoA.
FAQ's
When will the modifications to the objectives of the business take effect?
Will I have to change the name of my business if I want to change the objectives?
Can a business have 2 main objectives?
Is the Zolvit process for changing the objectives of a business completely online?
Where is the object clause of a business mentioned?
An Overview on Changing a Company’s Objective
It's natural that as your company grows and evolves, you'll want to take it in directions you hadn't previously anticipated. A company's objectives are spelled out in its memorandum of association, and it must work only toward those goals. For example, a stationery company that mostly sells/purchases stationary cannot suddenly expand into the automobile industry.
When the objectives of your company change, you must make the change official by updating the memorandum of association (MoA) and executing the relevant paperwork. This is because the object clause of the MoA must be altered in order to change the direction in which a corporation is heading.
Benefits of Changing Business Objectives
To Undertake New Ventures
To Facilitate Company Takeover
To Eliminate Abandoned Activities
To Adhere to Government Policy
Checklist for Information Required in the EGM Notice
The EGM notice must be issued to the members of the company which must contain the following details –
- Total amount of money received from the public by issuing the prospectus
- Total amount of money utilised for the objects stated in the prospectus
- Unused money as a percentage of total money obtained by issuing prospectuses
- Details about the proposed object modification
- Justification for the object modification
- The projected amount to be used for the new objectives
- Other essential information such as the estimated financial impact of the proposed modification on the company's profits and cash flow.
How to Change a Company’s Objective with Zolvit
To change your company’s objective in India, gather all of the above documents, such as true copy of board resolution and minutes of board meeting & EGM, and follow the steps below:
Step 1: Pass a Board Resolution
A board meeting should be conducted, and a resolution along the same lines must be approved, to make the necessary adjustments to a company's name and objectives. The appropriate paperwork should be signed, certified, and filed with the RoC by a director/company secretary.
Following that, a location and time for an extraordinary general meeting (EGM) of members will need to be determined.
Step 2: Pass a Special resolution in EGM
In the EGM, a special resolution will be passed by the members. The reply of the members to the special resolution is obtained. All the members should be given notice with certain mandatory information. Once this notice is circulated, the resolution is passed.
Step 3: Filing of Form MGT-14 with RoC
The company and its director(s) must file the form MGT-14 with the RoC in order for the procedure to commence. For the same, following papers must be attached to the form -
- Certified copy of the special resolution
- Notice of extra ordinary general meeting (EGM)
- Explanatory statement to the notice
- Altered memorandum of association
Step 4: Issuance of Fresh Certificate of Incorporation
The RoC will issue a new certificate of incorporation to the company if the CIN number changes owing to a change in the industry code.
Step 5: Incorporation of the MoA Object Clauses
The new object clause must be included in all copies of the memorandum of association after the certificate of incorporation is obtained from the RoC.