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Every company's Memorandum of Association (MOA) carries an objects clause, and the main objects sit at its heart. This clause spells out the core business activities your company is formed to undertake - whether that is financial services, manufacturing, trading, or consultancy. The Registrar of Companies examines these objects when you apply for company registration, and banks, investors, and business partners often read them to understand exactly what your company is set up to do.
Getting the main objects right matters. Your company is expected to operate within the activities listed in its MOA, and taking up a completely new line of business later means formally altering the memorandum. The sample clauses below show how main objects are typically worded for this business type. Use them as a drafting starting point, and have a Company Secretary or legal professional review the final version before filing.
1. To acquire and take over the running business of proprietorship concern named [Name of the firm] along with all its assets and Liabilities on such terms and conditions as may be mutually agreed upon. The said Proprietorship Firm will cease to exist after such takeover by the Company after incorporation thereof.
2. To establish, setup, and run in any part of India coaching institutes, Study Centre, oral coaching classes, where in professional, technical, vocational or higher education in every field of science, commerce, arts, management, engineering, law, banking, insurance, finance, medicine, hospitality, tourism, computers, or any other type of education be imparted by conducting regular, part time classes.
3. To establish, develop, promote franchise, study centers in India or abroad for conducting regular, evening or weekend interactive classes and to get the necessary approval, permission required for this purpose.
4. To enter in to Joint Venture, or collaborate with accredited educational institutions in India/outside India to provide such infrastructure assistance to such accredited educational institution and such other learning support on such terms and conditions as may be decided by the company from time to time.
Sample main objects clause for drafting your company's Memorandum of Association (MOA). Have it reviewed by your professional before filing.
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