Discuss the legal and practical considerations involved in altering the object clause of a company undergoing financial distress.

Mar 13, 2025 ... This article mentioned the role of MOA and flexibility in the companies in India under companies act and compared with U.S. If you want to preserve an objects clause, defining what the company can do, for example, because your ... company law by the Companies Act 2014. Specific ... The principal objects of the COMPANY shall be to manufacture, develop, market, distribute and sell the Products in Japan with the license granted under a ... However, both DACs and CLGs are required to include the company's objects (purposes) in their memorandum of association, and for both, their activities are ... In company law, the doctrine of ultra vires relates to the ... company's agents would have actual authority to act in breach of the objects clause. a part of a company's memorandum of association (= a legal document describing a new company) that states the aims of the company and the powers of the company ... Section 31: Statement of company's objects ... 98.This section provides for a new approach to the question of a company's objects. Under the 1985 Act all ... Oct 1, 2020 ... Change in Object clause of the Company involves Alteration of Memorandum of Association of the Company. Section 13 of Companies Act 2013 ... A company may by special resolution alter the provisions of its constitution with respect to the objects of the company, if any. ... company. The relevant provision of the objects clause in the plaintiff company's Memorandum of Association were as follows: (a) T o carry on the trade or ...