MOA which is usually stands for Memorandum of Association is the constitution of Company Act, 2013. It is the document which is a collection of clauses that defines the scope of the company. The MOA is drafted and submitted at the time of Incorporation of the company. It lays down the constitution of the company which includes the relationship of employees with the company and rights of the company.
Clauses in the Memorandum of Association (MOA)
There are many of the clauses in the memorandum of association like;
- Name Clause
- Object Clause
- State Clause
- Liability Clause
- Capital Clause
Ways to Amend the MOA of the Company
These are some ways to amend the MOA of the company like;
- By change of the name.
- By changing liability of the members.
- By increase in Authorized share capital.
- By change of registered office of the company.
- By change of the main business object of the company.
Process of Amendment of MOA of the Company
These are some steps in this process like;
Step 1: Conduct the board of the meeting.
Step 2: Call and convene the general meeting of the members.
Step 3: Pass necessary resolution in General Meeting.
Step 4: File necessary forms with the ROC such as MGT-14, SH-7, INC-22 or INC-23.
Step 5: Receipt of certificate of amendment of MOA of the company.
Reasons for MOA Amendment
There are some reasons behind for the amendment of the MOA like;
- Change of the name of the company.
- Change in registered office address of the company.
- Change in business activity of the Company.
- Change in the category of the company such as conversion of Pvt ltd company into public ltd. Company.
Tradenfill is here to help you all and will help you amend Memorandum of Association of a company. The average time taken to file for complete a Memorandum of Association amendment is about 2-5 working days, subject to government processing time and client document submission.