Change Your Objectives of Business Comfortably
Objectives of Business Compliance With Global Consultant, you can easily and quickly amend your company’s goals in your Memorandum of Association (MoA).
- Why Choose Global Consultants for Changing Your Business Objectives?
●Expert Guidance: Objectives of Business Compliance Our experienced team will help you navigate the complexities of amending your MoA.
●Quick and Efficient Process: We streamline the process, ensuring minimal disruption to your business.
- Overview - Changing Company Name & Objectives
Objectives of Business Compliance As your company grows and evolves, it’s natural to want to shift your business direction. Changing your business objectives is a formal process that requires amending your MoA and fulfilling specific legal requirements. Objectives of Business Compliance Global Consultant simplifies this process, ensuring a smooth transition into your company’s new phase.
- Why Change Business Objectives?
Changing your company objectives is essential for several reasons:
●Undertaking New Ventures: Expansion into new areas often necessitates a change in objectives to reflect new products or services.
●Company Takeover: Mergers and acquisitions can lead to a shift in company direction and vision, requiring an update in objectives.
●Elimination of Abandoned Activities: As businesses evolve, certain activities may become obsolete and need to be removed from the objectives.
●Compliance with Legal Changes: Shifting government policies may require you to amend your objectives to avoid engaging in prohibited activities.
- Process for Changing the Company Objectives
Step 1: Board Resolution
Hold a board meeting to pass a resolution for the changes in the business objectives. Designate a director or company secretary to sign, certify, and file the necessary forms with the Registrar of Companies (RoC).
Step 2: Special Resolution in EGM
Conduct an Extraordinary General Meeting (EGM) to pass a special resolution. Provide members with a notice containing mandatory information prior to the meeting.
Step 3: File Form MGT-14 with RoC
File Form MGT-14 with the RoC, attaching necessary documents to facilitate the processing.
Step 4: Issuance of Fresh Certificate of Incorporation
If the Company Identification Number (CIN) changes due to alterations, the RoC will issue a new certificate of incorporation.
Step 5: Incorporation of the MoA Object Clauses
After receiving the incorporation certificate, update all copies of the MoA to reflect the new object clauses.
- Documents Required to Set Up Main Objectives of Business
●Notice regarding EGM
●Attested true copy of the special resolution
●Minutes of the board meeting and EGM
●Altered MoA
●A certified true copy of the board resolution (optional)
●ID proof of all directors
●Address proof of all directors
●Attendance sheet or register of board meetings and general meetings
- Why Global Consultant?
Choosing Global Consultant means you benefit from:
●Simple and Speedy Process: Objectives of Business Compliance We handle all the complexities for you.
●Expert Advice: Our team guides you in determining the best additions to your main and ancillary objectives.
●Comprehensive Support: We draft the necessary resolutions and file all required forms.
●Responsive Customer Service: Objectives of Business Compliance All your queries will be promptly addressed.
- Glossary
● AoA: Articles of Association
● MoA: Memorandum of Association
● EGM: Extraordinary General Meeting
● RoC: Registrar of Companies
● MCA: Ministry of Corporate Affairs
- FAQs on Change Your Objectives of Business Comfortably
The Memorandum of Association (MoA) is a legal document that outlines the company’s objectives, scope of operations, and the relationship between the company and its shareholders.
The Articles of Association (AoA) govern the internal management of the company and outline the rights and responsibilities of its members.
Changes to the objectives come into effect once the special resolution is passed in the EGM and filed with the RoC.
Not necessarily. A change in objectives does not automatically require a change in the company name unless specified.
Yes, a company can have multiple main objectives, provided they are clearly defined in the MoA.
Yes, Global Consultant offers an entirely online process for amending your MoA.
A business objective is a specific goal that a company aims to achieve through its operations and strategies.
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