Change In Objectives Of The Company
Change In Objectives Of The Company – Classic Partners LLP
Classic Partner – ROC Compliance & Advisory Services
What is Change In Objectives Of The Company ?
The Objectives Clause of the Memorandum of Association (MOA) defines the purpose and scope of a company’s business activities. If a company plans to diversify, expand into new areas, or discontinue certain businesses, it must first alter its MOA by changing its objectives and file the necessary resolutions with the Registrar of Companies (ROC).
Procedure for Change in Objectives
Board Meeting
Convene a meeting of the Board of Directors.
Approve the proposal to amend the objectives clause.
Call for an Extraordinary General Meeting (EGM) of shareholders.
Extraordinary General Meeting (EGM)
Pass a Special Resolution under Section 13 of the Companies Act, 2013.
Approve the alteration of the Objectives Clause in the MOA.
ROC Filings
File Form MGT-14 within 30 days of passing the Special Resolution.
Attach certified copies of the Resolution, Notice of EGM with explanatory statement, and altered MOA.
Approval by ROC
The ROC will examine the application.
Upon approval, the new certificate of registration with the altered objectives will be issued.
Documents Required
Certified copy of Board Resolution
Notice of EGM & Explanatory Statement
Special Resolution passed in EGM
Altered copy of MOA (with revised objectives)
Digital Signature Certificates (DSC) of Directors
Important Points
A Special Resolution is mandatory for change in objectives.
If the company has raised funds through a prospectus, then approval of shareholders by postal ballot and disclosure of unutilized funds is required.
Updated objectives must be reflected in all future statutory filings and communications.
Why Choose Classic Partner?
End-to-end drafting of resolutions, notices, and explanatory statements
ROC e-filing support for MGT-14 and MOA alteration
Compliance as per Companies Act, 2013
Expert advisory on aligning business goals with legal documentation
Looking to diversify or expand your company’s business activities?
Classic Partner ensures a hassle-free alteration of your company’s objectives with complete ROC compliance.
