Sarvesh (Company Secretary) (179 Points)
01 May 2013Can anyone please guide me that if a public company wants to commence any object which has been mentioned in its other objects clause of MOA, is it necessary to alter the MOA by shifting such other object in the Main object clause or company can commence such object simply by complying the provisions of section 149(2A) of Companies Act and without shifting such other object in the main object clause.
An early response will be appreciated.
P C Agrawal
(Registered independent director Past Chairman of Aurangabad Chapter of ICSI Practicing Company Secretary at Aurangabad)
(8229 Points)
Replied 21 May 2013
There is no need to shift other objects to main objects. You can commence the object by complying with Sec.149(2A).
Ankur Garg
(Company Secretary and Compliance Officer)
(114773 Points)
Replied 22 May 2013
According to me without shifting the object clause from other object to main object you can not pursue the same. You have to amend object clause of your MOA along with complying with Sec.149(2A).
Kindly refer my article below on the same subject:
FORMALITIES FOR STARTING A NEW BUSINESS
Thanks
Ankur
Sarvesh
(Company Secretary)
(179 Points)
Replied 23 May 2013
Thank you sir for sharing your valuable knowledge & important article.
P C Agrawal
(Registered independent director Past Chairman of Aurangabad Chapter of ICSI Practicing Company Secretary at Aurangabad)
(8229 Points)
Replied 25 May 2013
Pl refer attached article from Shri Henry Richard, ROC, Tamilnadu. It has been mentioned in the article that a public company can commence any new activity mentioned in other objects after complying with Sec.149(2A). After commencement of such activity, if the income of the new activity is more than 50% of its income, it can approach ROC for change of its name.
Thanks
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