The object clause of the company states the purpose or business for which the company is incorporated. In case, company want's to change the Business activity of already registered company or change object after incorporation, the Memorandum of Association (MOA) would have to be amended as per Companies Act, 2013.
1. Main business activity of the company (Main object)
2. Activities which are necessary for conducting the main business activity (Ancillary objects)
The Company is prohibited from carrying on the business outside the scope of its objects.
Documents Required for Change of Objects.
The Most Important Thing is why Companies Changes its Business. There could be various reasons like:
All it takes is 15-30 days working days* But filing of form within 2 days alteration is subject to ROC approval.
Ezzus India India
Ezzus India India
Complete Alteration in Objects in Existing MOA and Also Changing Activity Code & CIN No
1. Can we Change Activity of the company without informing the Register Of Companies?
No, If a company wants to change its business activity or add more related activities in its MOA, the company has to take approval of Board, Shareholders and then to take approval of ROC by filing Form MGT-14 and after getting the Fresh Certificate of object Change. The company can start its new activities.
2. Do Object Change impact any other registration of company?
If company changes its Business activity, The Company has to intimate to the other department like GST etc. and IF CIN Got Changed due to change in NIC code of the Company, company has to inform the banker also and update its CIN in the record of the bank.
3. What is the Process for Changing the Business Activity or object clause of MOA?