What are the key steps for change of Object clause
"
Finalize the revised content of the object clause
Approval of the Board of Directors
Approval of Share holders in general meeting
Explanatory statement available for inspection of the shareholder
submission of Form No. MGT 14 within 30 days of passing the special resolution for registration of change in object clause "
How long it takes to make a change in the object clause
Meeting of Board of directors to be called by giving at least 7 days notice, post that 21 days notice is required to be given to share holders for EGM. Short notice can be given with consent of 95% voting rights shareholders. Within 30 days of the special resolution application has to be filed with ROC. Register will issue a certificate incorporating the change usually in 2 to 4 days
How many categories of object clause is in MOA
"There are three sub categories under the object clause -
Main Objective: It states the main business of the company.
Incidental Objective: These are the objects ancillary to the attainment of main objects of the company.
Other objectives: Any other objects which the company may pursue and are not covered in above two points. "
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