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CHANGE OF OBJECT CLAUSE OF A COMPANY

CHANGE OF OBJECT CLAUSE OF A COMPANY
Object Clause is a part of Memorandum of Association of the Company. A Company cannot carry on any business other than that mentioned in the Object Clause of the Memorandum of Association. Companies may require alteration of object clause of Memorandum in case they are entering into new line of business or diversifying their activities. The company can alter its object with the provision lays down under Companies act 2013.
For alteration of object clause of Memorandum of association, approval from shareholders of the Company is required in form of Special Resolution passed in General Meeting of the Company.
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Step by step procedure for change of Object Clause of Company is explained below:

Step 1: Convene meeting of Board of Directors

A meeting of Board of Directors is convened by issuing notice to call board meeting in accordance with the provisions of Companies Act, 2013. At the Board Meeting resolutions regarding change of object are passed which includes in principle approval of the Board of Directors to change Object Clause of the Company, fix date of General Meeting, and approve notice of General Meeting with agenda and explanatory statement and authorizing Director or Company Secretary of the Company to issue notice of General Meeting.

Step 2: Issue of notice of General Meeting

Notice of General Meeting is issued to the members, auditors and directors of the Company.

Step 3: Hold General Meeting of Company

Hold General Meeting of the Company on the date specified in the Notice of General Meeting and pass Special Resolution as per the provisions of Section 13(1) of the Companies Act, 2013.

Step 4: Approval from Registrar of Companies

Notice of General Meeting, altered Memorandum of Association, extract of Special Resolution passed at the General Meeting of the Company with other requisite documents is filed with the Registrar of Companies in form MGT 14 for approval.

Filing of Forms:


The company shall file with the Registrar of Companies form MGT 14.

Required Documents:

  1. Notice of General Meeting
  2. Altered Memorandum of Association
  3. Extract of Special Resolution passed at the General Meeting
  4. Other requisite documents

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WMC can help you for change of object clause. The average time taken to draft and file documents of change of object clause is about 3-5 working days, subject to government processing time and client document submission. Get a free consultation for change of object clause by scheduling an appointment with a WMC Advisor.