7. Formulate Memorandum of Association

Memorandum of Association is the purpose for which the company is formed. A company is not legally entitled to undertake any activity, which is beyond the objects stated in this clause. A duly drafted, verified, stamped and signed Memorandum of Association is required for registering a company.

A Memorandum of Association consists of the following parts:

1.The Main Object

Although it may not have been stated explicitly in the sub-clause, an act which is either essential or incidental for the achievement of the main objects of the company is deemed to be valid.

2.Other Objects

Objects not mentioned in the main object could be stated here. However, if a company wishes to undertake a business included in this sub clause, it has to either pass a special resolution or pass an ordinary resolution and get central government’s approval for the same.

3.Registered Office Clause

Provide the name of the state and address where company is located. The exact address of the registered office is not required at this stage but the same must be notified to the Registrar within thirty days of the incorporation of the company.

4.Capital Clause

To specify maximum capital, along with its division into number of shares, which the company will be authorized to raise through the issue of shares.

5.Association Clause

The signatories to the Memorandum of Association state their intention to be associated with the company and give their consent to purchase of shares.

 

Memorandum of Association (MOA) can be easily prepared under guidance of any Lawyer or Charted Accounted. More information about Memorandum of Association (MOA) can be found in, a) The Companies Act, 1956 and b) The Legal Service of India

 

Draft MOA is attached herewith for your convenience. Please amend / change as needed.

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