Can company have two main objects?
The answer is yes, however it depends whether the activities are related or not. The company may carry on more than one activity at the consent of the member. All such activities are required to be listed under the object clause as specified above.
How the object clause of the company is divided?
This clause is divided into two parts one of the main clause and other is the sub clause. The main clause of the MOA will give a brief about the activities that will be carried by the firm that can include the activities like manufacturing, trading or providing any kind of services by the company.
Can we change object clause of company?
A Company in order to expand after incorporation of a Company may change the object clause. A Company can alter its object clause either by way of addition, deletion, substitution, modification or in any other way, only if it wants.
Can I run 2 businesses from the same premises?
Yes, it is possible to run two or more separate businesses under a single limited company. This involves the use of trading names to compartmentalise the overall company into separate units, each of which can be run as a unique business.
Can I have different brands under one company?
The bottom line is there’s no (legal) limit to how many business ventures you can start and run. Just make sure that you properly account for your liability risks when structuring these ventures.
Can a company be incorporated with different objects?
(c) Objects Clause: Objects of the company for which the company is proposed to be incorporated and any matter considered necessary in furtherance thereof. There cannot be ‘other objects’ clause under this Act, as it was in the earlier Act. However, a company may have more than one object as its main objects.
How do you amend an object clause?
Changing objectives of a Company
- Step 1: Pass board resolution. Pass a resolution at the board meeting to approve the object clause.
- Step 2: Special resolution in EGM.
- Step 3: MGT-14 to be filed with RoC.
- Step 4: Issuance of fresh certificate of incorporation.
- Step 5: Incorporating object clause in MoA and AoA.
How do I change a company name and object clause?
The board will suggest proposed new names and will set the agenda for EGM.
- Step 1 -Pass Special Resolution for Company Name Change.
- Step 2 -Application for approval of Company Name Change.
- Step 3 -Issuance of New Certificate of Incorporation.
- Step 4 -Make Changes to MOA and AOA.
What is an object clause in a company?
The objects clause states the ambit and extent of a Company’s powers. The purpose of this statement is to enable creditors and other persons dealing with the company to know the extent of the company’s power and authority, and to protect the subscribers who will know the purposes to which their money can be applied.
What are the main objects clauses of moa?
MOA Main Objects clauses for different types of Companies. 1. To produce, manufacture, treat, process, prepare, refine, import, export, purchase, sell and to deal in and to act as ironmasters, steel makers, 2. To carry on the business of buying, purchasing or otherwise acquire any immovable or
What are general contracts according to the objects clause?
Riche filed a suit demanding damages from the company. According to Riche, the words “general contracts” in the objects clause of the company meant any kind of contract. Thus, according to Riche, the company had all the powers and authority to enter and perform such kind of contracts.
Can a complete clause be the object of a sentence?
However, we can also use a complete clause as the object of a sentence (a clause contains a verb and a noun). Here is a simple clause: You are wrong. When we use this as an object in a sentence, it becomes an object clause: I + believe + you are wrong.