An objects clause is a provision in a company's constitution stating the purpose and range of activities for which the company is carried on.
A company may change its objects for diversification into areas which would be profitable for the company as part of diversification plans. For the purpose of the objects clause of the company which is presently very restricted in scope, requires to be so made out as to cover a wide range of activities to enable your company to consider embarking upon new projects and activities considered to be convenient, advantageous and feasible for the company’s business.
As per the provision any alteration in memorandum of association of company is permitted through special resolution in general meeting. The company needs to follow the provision of the law with proper approval and documentation.
The change of object should be intimated to RoC within 30 days from the date of passing Special Resolutions.
In case of company has raised money from public through prospectus and still has any unutilized amount. The company can change the object by
A) passing a special resolution
B) Resolution need to be published in the newspapers and placed on the website of the company
C) Dissenting shareholders shall be given an opportunity to exit.
No, you needn’t to be available in person, change in object clause process is online. A scanned copy of documents can be sent to us via mail, and we will handle the rest.