memerandom af association

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Querist : Anonymous

Querist : Anonymous (Querist)

27 December 2010 please explain

CA Sanat Pyne

CA Sanat Pyne (Expert)
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27 December 2010 It is the constitution or charter of the company and contains the powers of the company. No company can be registered under the Companies Act, 1956 without the memorandum of association. Under Section 2(28) of the Companies Act, 1956 the memorandum means the memorandum of association of the company as originally framed or as altered from time to time in pursuance with any of the previous companies law or the Companies Act, 1956.

The memorandum of association should be in any of the one form specified in the tables B,C,D and E of Schedule 1 to the Companies Act, 1956. Form in Table B is applicable in case of companies limited by the shares , form in Table C is applicable to the companies limited by guarantee and not having share capital, form in Table D is applicable to company limited by guarantee and having a share capital whereas form in table E is applicable to unlimited companies.

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Ajay Mishra

Ajay Mishra (Expert)
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27 December 2010 Agree with sir....

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Querist : Anonymous

Querist : Anonymous (Querist)

27 December 2010 memorandum of association DefinitionDocument that regulates a firm's external activities and must be drawn up on the formation of a registered or incorporated firm. As the firm's charter it (together with the firm's articles of association) forms the firm's constitution. Also called 'memorandum,' it gives the firm's name, names of its members (shareholders) and number of shares held by them, and location of its registered office. It also states the firm's (1) objectives, (2) amount of authorized share capital, (3) whether liability of its members is limited by shares or by guaranty, and (4) what type of contracts the firm is allowed to enter into. Almost all of its provisions (except those mandated by corporate legislation) can be altered by the firm's members by following the prescribed procedures. The memorandum is a public document and may be inspected (normally on payment of a fee) by anyone, usually at the public office where it is lodged (such as the registrar of companies office). Called articles of incorporation in the US.