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Need to change the objective of business
A company needs to change its objective when:
- It expands its business by launching new products and services
- A company takes over the business
- It wants to change its operational activities
- An activity that was lawful before, but is now declared illegal by the government.
A company can change its objective by following these steps:
- Conducting a board meeting in which the necessary changes are made in the objects clause of the company
- File the form with the ROC after getting the directors signature
- Provide a notice with the necessary information to the members of the EGM
- File form MGT-14 with ROC
- A fresh certificate is issued by the ROC
- Make necessary changes in all the MoA copies
Essential documents required to change the objective:
- Notice to conduct EGM
- Copy of the special resolution
- Modified MoA
- DSC of Director
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