Change in main object

This query is : Open

Querist : Anonymous

Querist : Anonymous (Querist)

17 October 2013 There is a private limited registered as “ xxx Builders & Developer Pvt Ltd.”. Its main object is for dealing in properties.

Now its directors want to start a new business of medical(medicine).

So, what a procedure for it? Or company requires to change name.

Ajay Mishra

Ajay Mishra (Expert)
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17 October 2013
STEPS FOR CHANGE OF NAME SUBJECT TO THE CHANGE OF MAIN OBJECTS OF THE COMPANY:

1. Call a Board meeting for proposed change of name subject to change in object clause and filing of Form1A.
2. Call another Board meeting after approval of Form-1A
3. Hold a Board meeting for passing following resolutions:
a. Change of name of the company
b. Alteration of Name Clause of MOA of the Company
c. Alteration of Name clause of AOA
d. Alteration of object clause of by insertion of new main object of MOA
e. Fixing date time place for general meeting for approving the above resolution by shareholders.
f. approval of draft notice of general meeting.
g. Authorisation for filing forms with MCA.
4. Hold a general meeting for passing above resolutions.
5. File Form-23 with MCA with in 30 days from passing of shareholders resolutions.
6. File Form-1B with ROC
7. Get certificate from ROC for change of name and object clause of the company

Querist : Anonymous

Querist : Anonymous (Querist)

17 October 2013 I just want to confirm whether it is compulsory to change in name or not.

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Ajay Mishra

Ajay Mishra (Expert)
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17 October 2013 Yes, it is mandatory. Otherwise MCA will not approve your change in object.

Querist : Anonymous

Querist : Anonymous (Querist)

17 October 2013 Name Now the company process both business Dealing in BUildings & Medicines.
Now what charaters must be in name wheteher building related or medical related

Ajay Mishra

Ajay Mishra (Expert)
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17 October 2013 If you are going in to shifted from real estate to medial object then your name should reflect your business.

So it will be medical related name.

Querist : Anonymous

Querist : Anonymous (Querist)

17 October 2013 But Cmpany wants to continue both the business.
Now Name must be based on Medical business or Property Business.