19 April 2010
The Memorandum of the company contain a clause that the company may from time to time by ordinary resolution increase or reduce the number of directors within the limit fixed by these articles.
The limit fixed by these articles is 12.
Now, the company wants to increase the number of directors from 12 to 15.
for amending the MOA, whether prior approval of RD is required or not?
Kindly refer the conditions stated in Certificate granted by Government.
Normally Section 259 is applicable but for section 25 it is exempted so refer the condition in MoA which general state that any amendment to MoA will require Government Santion. So follow the setps accordingly.
CAclubindia
