Change in Memorandum of Association of Company
Memorandum of Association is a document which sets out the constitution of the company. It clearly displays the company’s relationship with outside world. Memorandum of Association can altered in the following respect:
A. Alteration in the Name clause: Name of the can be changed by the company by following [Section 13 (2) and (3)] of the Companies Act, 2013
B. Alteration in the Registered Office: It contains State of India where registered office of the company is situated. It can be altered when there is a change in the registered office within the same State or from one registrar to another or from one State to another.
C. Alteration in the Object clause: It contains the purpose for which the company is being established. It can be altered when a company wishes to change its activity or increase its scope of work.
D. Alteration in the Liability clause: It defines the liabilities of the members of the Company. This clause can be altered whenever there is a conversion of company from private to public & vice-versa.
E. Alteration in the Capital clause: Capital Clause can be altered for the following reasons:
• To increase its share capital by issuing new shares.
• To consolidate and divide all or part of its share capital into shares of a large amount.
• To convert all or any of its fully paid-up shares into stock or reconvert that stock into fully paid-up shares of any denomination.
• To sub-divide its shares into shares of lower denomination.
• To cancel those shares which have not been taken by any person and reduce the amount of its share capital