Section 25

This query is : Open

Guest

Guest (Querist)

14 May 2013 Can Anyone tell me the process of change in financial year & articles of a section 25 Companies ?sorry but this is 3rd time I m posting this query.

Ankit

Ankit (Expert)
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14 May 2013 Dear Priyanka,

the alteration of the articles has to be done as per the procudure mentioned in section 31 only. for a section 25 co. there is no separate procedure.

yes..you may have to check the MoA and the existing AoA for the powers or restrictions mentioned on the alteration

- Ankit

Guest

Guest (Querist)

14 May 2013 There ate few points....
1. pursuant to the act..change in MOA requires CG approval...is it specifically for Memorandum or for Articles also.Do we have file 24A .

2. Further, there is a change in financial year pursuant to which there is a change in articles....i.e. they are adding a point to the articles also.What is the procedure for aligning this fy change with the change in articles.

3) while I was surfing ...I got a pdf of a lience which mentions that the company will take permission of CG when it changes memo or articles. still the question is will I have to take permission of CG with following Section 31.

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Ankit

Ankit (Expert)
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14 May 2013 Priyanka,

As per the license issued u/s 25, for every amendment, the approval of the RD is to be taken. RD is functioning under MCA and thus under CG only

Guest

Guest (Querist)

14 May 2013 Ok..let me point out the procedure to be followed...please corect me if wrong:
1) Call a BM
2) Propose BR for change of Financial year & SR for Alteration in Articles
3) File Form 23 for both
4) Let it get approved...
5) Then File form 24A
6) Let it get approved and wait for confirmation by RD.

Is this the procedure...plz confirm
But one more thinf unless it gets approved by RD how Form -23 will get approved

Guest

Guest (Querist)

14 May 2013 Plz confirm

Ankit

Ankit (Expert)
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14 May 2013 Priyanka,you only have to file form 23 and then the EGM and the special resolution for the change

the amended AoA and the MoA is then to be filed with the RoC

Guest

Guest (Querist)

14 May 2013 Sorry but huge confusion Ankit ji....
1)Form 23 and then EGM i.e Form -23 for Fy or anything else
2) RD approval

Please clarify

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