Process of changing the Object
In meeting of Directors, a Resolution is passed for the amendment in the Object clause of the MOA. Date for shareholders meeting is also fixed in the same meeting.
A General Meeting of shareholders is called for passing a Special Resolution. In this meeting, Shareholders exercise their voting right to approve the proposal of amendment in business activities.
After getting consent of shareholders, relevant clause of MOA is amended to reflect changes in business operations of the entity.
After shareholders approval, a copy of Special Resolution along other documents is submitted to Registrar to register the amendment in object clause.
Finally, e-form MGT-14 is filed to approve the changes in MOA. The amendment request must be filed within 30 days of passing of special resolution. This approval document needs to be sent to Registrar upon issuance.