Changes in the Memorandum of Association can be made through a special resolution in the meeting of shareholders. The process of changing a company's MOA is a complex and extensive process, it is necessary that professional care should be taken during the process.
Alteration Requiring MOA amendment
Altering Name in MOA
To change the name of the company, a special resolution has to be passed and the MOA will have to be changed. In case of change of name in case of Private Limited Company or Public Limited Company, no approval from the Central Government is required. However, in other cases the consent of the central government is necessary.
Also, if the company is registered under a name that shows similarity or similarity with an existing company, the central government will take steps and ask for a change of name. But for such cases a simple solution is sufficient.
Registered office Change (State to State)
A company needs to make changes in the Memorandum of Association for shifting its registered office to another state. Generally, reasons to change registration to another state include:
- To conduct business more professionally and economically
- To achieve the important objective of the company through sophisticated means
- To develop operations in the current location
- To manage existing objectives
- Selling the business enterprise in whole or in part.
- Merging the business with another person or other business.
If the registered office is shifted from one state to another then a special resolution has to be approved and approval has to be obtained from the Board of Law of the company. This change in memorandum should be filed with the registrar of the state from where the company is operating and also with the registrar of the state where the company wishes to shift. After approval from the Registrar of Companies, changes in the MOA of the company should be made to reflect the new state where the registered office is located.
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