Change in Company Object refers to the formal process of modifying the company’s main business activities or objectives as mentioned in the Memorandum of Association (MoA). This change is commonly done when a company wants to expand into new sectors, restructure its operations, or shift its focus to a different business model. To legally change the object clause, the company must pass a Board Resolution and Shareholder’s Special Resolution, followed by filing Form MGT-14 with the Ministry of Corporate Affairs (MCA) through e-filing. Once approved, the updated object clause becomes part of the company’s official records. At Wegmans India, we assist with end-to-end filing, drafting, and legal compliance for a smooth and timely object clause amendment.
Board Resolution
Approving the proposal to change the object clause of the company.
Notice of General Meeting
To call shareholders for passing a Special Resolution.
Special Resolution (Shareholders' Approval)
Approved by at least 75% majority in the General Meeting.
Altered Memorandum of Association (MoA)
With the updated object clause.
Explanatory Statement
Justifying the reason for change in object, as per Section 102 of the Companies Act, 2013.
Copy of Minutes of the General Meeting
As supporting proof of resolution passed.
Form MGT-14
Duly filled and digitally signed to be submitted online with MCA.
Digital Signature Certificate (DSC)
Of the authorized director for filing forms.
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Business Expansion or Diversification
Updating the object clause allows the company to legally enter new markets or sectors beyond its original scope.
Compliance with the Law
Making changes through proper MCA filing ensures the company stays legally compliant under the Companies Act, 2013.
Improves Operational Flexibility
The company can adapt to new business opportunities or trends without having to create a new legal entity.
Builds Credibility with Investors & Partners
An updated object clause reflects transparency and clarity in business goals, attracting trust from investors, lenders, and partners.
Supports Strategic Shifts or Mergers
It enables a company to restructure its goals or align with the objectives of merged or acquired entities.
5 to 7 days
1. Business Expansion or Diversification
Updating the object clause allows the company to legally enter new markets or sectors beyond its original scope.
2. Compliance with the Law
Making changes through proper MCA filing ensures the company stays legally compliant under the Companies Act, 2013.
3. Improves Operational Flexibility
The company can adapt to new business opportunities or trends without having to create a new legal entity.
4. Builds Credibility with Investors & Partners
An updated object clause reflects transparency and clarity in business goals, attracting trust from investors, lenders, and partners.
5. Supports Strategic Shifts or Mergers
It enables a company to restructure its goals or align with the objectives of merged or acquired entities.