It's Fast. It's Furious. It's Startup. KickStart your Startup Now!
Change of Object of the Company
About Change in Object of a Company
The object clause is the third clause
of the company memorandum of association stating the objects i.e. the
business/purpose for which the Company is incorporated. A company may change
its objects as enshrined in its memorandum of association in accordance with
the provisions of Sections 13 of the Companies Act, 2013.
The change in objects of the company
shall be effective only on registration of special resolution in prescribed
form within such time.
However, it restrict change in object
of a company, which has raised money from public through prospectus and still
has any unutilized amount out of the money so raised unless a special
resolution is passed by the company and the prescribed details of such
resolution shall be published in one vernacular language and one English
language newspaper in circulation at the place of the registered office of the
company as well as on the website of the company indicating the justification
for such change in object.
