What is memorandum of association India?

What is memorandum of association India?

Memorandum of Association (MOA) is a legal document that specifies the scope of business activities of the company and information about the shareholding of the company. The MoA is a document prepared for the Company registration procedure. It also contains the powers of the company within which it can act.

Is memorandum of association compulsory?

MOA is a compulsory document which must be registered with the ROC at the time of incorporation of the company. On the other hand, AOA is not obligatory and in case of limited shares, a company can use its Table A in its place.

Who Cannot be a subscriber to the Memorandum of Association?

It is plain that those who do not subscribe their signatures to the declaration in token of their desire to form themselves into a company and do not agree to take shares as required in the declaration, cannot be considered to be subscribers to the Memorandum of Association.

What is object clause of Memorandum of Association?

The object clause of Memorandum of Association states the purpose of incorporation of the company. This is an important clause since any company performing an act beyond the objects makes it ultra vires. The subscribers of the company decide its objects while incorporating it.

What are the main clauses of memorandum of association?

Main Clauses of Memorandum of Association

• Name Clause. A legal entity, as obvious as it may be, must have a name, which forms the identity of the enterprise.
• Domicile Clause.
• Objects Clause.
• Liability Clause.
• Capital Clause.
• Subscription Clause.

What is the full form of MoU?

A Memorandum of Understanding (MoU) is an agreement between two or more parties outlining the rights and obligations of the parties to the agreement. It is generally made when parties are into initial discussions.

Can MOA override AOA?

Companies Act overrides Memorandum & Articles of Association That is quite irrelevant here. If the provisions contained in any of the above mentioned documents are in contrary or in conflict with or repugnant to the provisions of the Companies Act, then they shall become or be void.

Under which section the memorandum is dealt?

What is Memorandum of Association (MOA)? As per section 2 of the Companies Act, 2013 memorandum means the memorandum of association of a company as originally framed or as altered from time to time in pursuance of any previous company law or of this Act.