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Change Your Objectives of Business Comfortably

Q: When will the modifications to the objectives of the business take effect?

Only once the registrar of companies receives, accepts, and recognises the application to change the objectives of a business will the modifications take effect. Following receipt of the acceptance, a business can carry out the updated actions.

Q: Will I have to change the name of my business if I want to change the objectives?

No, it is not always necessary to alter the name of the business. However, if the current name does not reflect the new operations done by the firm, the RoC may recommend that the name be changed to reflect the new activities conducted by the company.

Q: Can a business have 2 main objectives?

Yes, a business can have more than one primary goal. They must, however, be connected to the company's principal business.

Q: Is the Zolvit process for changing the objectives of a business completely online?

Yes, the entire procedure is completed online. We will equip you with a dashboard from which you will be able to overview the modification of your business' objectives with ease.

Q: Where is the object clause of a business mentioned?

A company's object clause is mentioned in its Memorandum of Association. It contains the company's main business activity (also known as the main object) as well as the activities required to carry out the main business activity (also known as the ancillary objects)

With Vakilsearch, you can amend your company’s goals in your MoA easily and quickly!

Get the process started at just ₹99/- and pay the rest conveniently after processing begins.

Get Started

Here’s How It Works

Want to alter your business objectives? Get Zolvit to do your bidding!

1
Connect with a Zolvit expert
2
Primary and secondary objectives prioritised by experts
3
Experts file all required forms for altering the objectives
4
Experts deal with the government on behalf of you
5
Move forward with renewed business objectives

Excellent service and support. Vakil Search Team is very supportive and professional. I Really appreciate the service and support from the team.

Rachna Pathania

Founder & CEO of SchnellTek Software Pvt. Ltd.

Zolvit has been our legal service provider for quite a long time! Our experience with them has been great, especially the speed and proficiency with which they deliver their services. We recommend them!

Satya Vasireddy & Sravani Vasireddy

Founders of Lovely Chocos

Zolvit is exactly what it does. Legal is simple. We went to Zolvit to register our Trademark during the lockdown and everything was done online with ease. We never even had to step out of the house. It was truly a digital experience.

Adarsh Agarwal

CEO & Developer of Golghar.com

Here’s What You’ll Need

Once you have the below documents ready, submit them digitally to change your company’s objectives. Zolvit uses the best-in-industry security protocols to ensure your documents are always secure.

Notice of EGM
True copy of the special resolution, attested
Minutes of the board meeting and the EGM
A true and certified copy of the board resolution (optional)
ID proof of all the company's directors
Address proof for all of the company's directors
Board and general meeting attendance sheets or registers.

Why Should I Use Zolvit to Change my Business Objectives?

New Company
We Register a New Company Every 9 Minutes
50,000+
Businesses Served by Zolvit
Financial Services
All Financial Services in One Place
Quick & Affordable
Nominal rates, great turnaround time
Satisfaction
100% satisfaction guaranteed

A strategic business plan that evolves as your business grows. Re-align your company’s objectives without a hassle with the help of the experts at Zolvit!

Did you know?

A memorandum of association defines the scope of the company's operations, the goals for which it was founded, the extent of its authority, and its interaction with the outside world. It is also known as the company’s charter.

A company's articles of association (AoA) contain the rules or bye-laws and regulations that control or govern how its business is conducted and how its internal affairs are managed. The AoA of a company is subordinate to and governed by the MoA.

FAQ's

When will the modifications to the objectives of the business take effect?

Will I have to change the name of my business if I want to change the objectives?

Can a business have 2 main objectives?

Is the Zolvit process for changing the objectives of a business completely online?

Where is the object clause of a business mentioned?

An Overview on Changing a Company’s Objective

It's natural that as your company grows and evolves, you'll want to take it in directions you hadn't previously anticipated. A company's objectives are spelled out in its memorandum of association, and it must work only toward those goals. For example, a stationery company that mostly sells/purchases stationary cannot suddenly expand into the automobile industry.

When the objectives of your company change, you must make the change official by updating the memorandum of association (MoA) and executing the relevant paperwork. This is because the object clause of the MoA must be altered in order to change the direction in which a corporation is heading.

Benefits of Changing Business Objectives

To Undertake New Ventures

To Facilitate Company Takeover

To Eliminate Abandoned Activities

To Adhere to Government Policy

Checklist for Information Required in the EGM Notice

The EGM notice must be issued to the members of the company which must contain the following details –

Total amount of money received from the public by issuing the prospectus

Total amount of money utilised for the objects stated in the prospectus

Unused money as a percentage of total money obtained by issuing prospectuses

Details about the proposed object modification

Justification for the object modification

The projected amount to be used for the new objectives

Other essential information such as the estimated financial impact of the proposed modification on the company's profits and cash flow.

How to Change a Company’s Objective with Zolvit

To change your company’s objective in India, gather all of the above documents, such as true copy of board resolution and minutes of board meeting & EGM, and follow the steps below:

Step 1: Pass a Board Resolution
A board meeting should be conducted, and a resolution along the same lines must be approved, to make the necessary adjustments to a company's name and objectives. The appropriate paperwork should be signed, certified, and filed with the RoC by a director/company secretary.
Following that, a location and time for an extraordinary general meeting (EGM) of members will need to be determined.
Step 2: Pass a Special resolution in EGM
In the EGM, a special resolution will be passed by the members. The reply of the members to the special resolution is obtained. All the members should be given notice with certain mandatory information. Once this notice is circulated, the resolution is passed.
Step 3: Filing of Form MGT-14 with RoC
The company and its director(s) must file the form MGT-14 with the RoC in order for the procedure to commence. For the same, following papers must be attached to the form -
- Certified copy of the special resolution
- Notice of extra ordinary general meeting (EGM)
- Explanatory statement to the notice
- Altered memorandum of association
Step 4: Issuance of Fresh Certificate of Incorporation
The RoC will issue a new certificate of incorporation to the company if the CIN number changes owing to a change in the industry code.
Step 5: Incorporation of the MoA Object Clauses
The new object clause must be included in all copies of the memorandum of association after the certificate of incorporation is obtained from the RoC.