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!
Want to alter your business objectives? Get Zolvit to do your bidding!
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Primary and secondary objectives prioritised by experts
Experts file all required forms for altering the objectives
Experts deal with the government on behalf of you
Move forward with renewed business objectives
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CEO & Developer of Golghar.com
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.
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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.
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?
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.
To Undertake New Ventures
To Facilitate Company Takeover
To Eliminate Abandoned Activities
To Adhere to Government Policy
The EGM notice must be issued to the members of the company which must contain the following details –
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 -
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.