CHANGE IN NAME & OBJECTIVES

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CHANGE IN NAME & OBJECTIVES

To get this approved quickly, you need to be very clear when you amend to objects clause of the Memorandum of Association.

CHANGE IN NAME & OBJECTIVES

To change the goals or aims and objectives of your business, you need to amend the Memorandum of Association. The MoA contains the object clause. Now, this can be difficult to do, particularly if you're a young company looking to completely change the main objects. But if you follow the right methods, it can be done quickly. For example, one mistake many companies make is to include several domains in the main objects. This will not be approved. For example, if you are in the software business, you can cover all software services in the main objects, but other services, such as design, should be included in ancillary or other objects of the company.

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You first need the board to pass a resolution selecting the new name and changing the objects of the company. We will ask for a few documents, which will be needed to get the approval from RoC in this regard.

We will file the necessary forms for changing the name and objects, but would also need to provide us with projected turnover details for three years and a declaration that the company will commence the business mentioned in the objects within six months.

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