There is a public limited company having share capital, it has commenced the new business as mentioned in the other object of its MOA by passing special resolution but the company is not shifted the said business from other object to main object of the Company.
Sir, my query is that whether the company has complied the section 149 (2A)of companies act, 1956 and if no what company should have done and what company is suppose to do in order to comply section 149(2A)of companies act,1956.
I have gone through your article and also read the section 149(2A) and what i understand that if the Company wants to commence business as mentioned in the other object then the said business should be shifted from other object to main object by altering MOA/AOA and for the same company require to pass special resolution.
In my case the main object of the Company is Media and Entertainment which Company is pursuing from last 5 year and in last AGM company has commenced the business of investment and finance as mentioned in the other object of the MOA by passing special resolution but the company has not shifted its Other object to Main object and not altered MOA.
The contention of the Company is that they have just commenced the business as mentioned in the other object, they have not included it to main object, so they are not required to amend the MOA/AOA.
But sir, as per section 13 of the act, the object of the company means main object and object incidental or ancillary to main object and not other object, so weather the above company is required to shift its other object to main object by altering MOA/AOA and if yes what it can do as it had already in last AGM passed special resolution for the commencement of business.
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