- May 25, 2020
- CA Sundram Gupta
Free Stamp duty calculator for Company Registration
Now you can access free Stamp duty calculator for Company Registration.
Read moreFor any new company registration, there has to be objective for starting new business. The object clause is the third clause of the Memorandum of Association (MOA). MOA represents the charter of the new company registration. It is the legal document prepared during the new company registration to define its relationship with the shareholders and it specifies the objectives for which the company is formed.
The object clause specifies the business activity that the company is doing. It enables others to understand the scope of the work which new company will undertake. While dealing with the company one should know the limit of the business activity that the business can indulge in. The company can undertake only those activities that are mentioned in the MOA and AOA. All the activities beyond those mentioned in the MOA and AOA will be deemed as void.
mentioning object clause properly is absolute warrant at the time of private limited company registration. The object clause in MOA is divided into two parts:
Whenever there is a need to change or amend the business activity, it can be done. A company will require approval from the Ministry of Corporate Affairs to change the business activity. Only after the Ministry’s approval, a company can do a new business activity.
The object clause in the Memorandum of Association for each industries are different and need to cater the activities which is required to be carried. For example the object clause for Information Technology sector will be different from the the outsourcing or business consultancy services. Health Care focuses on medical services and products, Manufacturing industries encompass the production of goods and Real Estate outlines property dealings. This clause is crucial for legal clarity, ensuring alignment with industry regulations, and enabling diversified business operations, ultimately facilitating industry-specific growth within the Indian business landscape.
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Now you can access free Stamp duty calculator for Company Registration.
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