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The Memorandum of Association (MOA) is a crucial document for a company, especially when incorporating a Section-8 company. It must be filed with the Registrars of Companies (ROC) and the Ministry of Corporate Affairs (MCA). The MOA outlines the company’s initial capital and the 'object clause,' which delineates the scope of its operations to shareholders, creditors, and other stakeholders.
For various reasons, a Section 8 company's MOA may need to be modified or amended. During this process, the organization must adhere to the provisions outlined in the Companies Act, 2013, and follow the guidelines provided by the Registrar of Companies (ROC).
The Limited Company must convene a Board Meeting to approve the amendment to the MOA by the Board of Directors.
Following the Board Meeting, the company’s Director should provide approval for the MOA amendment process by passing a special resolution.
Upon completion of the process, the amended MOA should be meticulously documented in all official records of the concerned organization.
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Filing of the Form MGT-14 to the ROC and processing for MOA Amendment
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MOA or Memorandum of Association works as the internal constitution of a Section 8 Company. It contains the AoA, the initial capital, Object Clause and is mandated to be filed in the time incorporation of the particular organization.
In the Amendment process, the MOA of a Section 8 Company is modified or changed for reasons like changing the Name of the Company, change of the Registered Office, or alteration in the company’s objectives.
The MOA Amendment procedure is regulated by the Companies Act, 2013 of the Indian Govt, along with the provisions of the Registrar of Companies ROC.