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MEMORANDUM OF ASSOCIATION
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ACCORDING TO COMPANIES ACT, 1956 “Memorandum means Memorandum of Association of a company as originally framed or as altered from time to time in pursuance of any previous companies law or of the Companies Act.”
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IMPORTANCE OF MOA Helps the share holders to know about the purposes where their money can be applied. People can infer the extent of the Company’s powers.
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Contents of Memorandum Name of the Company. Name of the Company. State in which Registered office is situated. State in which Registered office is situated. Objects of the Company. Objects of the Company. Main Objects Incidental or Ancillary objects Other Objects States where the objects can extend. States where the objects can extend.
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Liability of members. Liability of members. Each subscriber takes at least one share and writes his name opposite to the number of shares. Each subscriber takes at least one share and writes his name opposite to the number of shares.
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I.NAME CLAUSE Rules are: Undesirable name to be avoided. Undesirable name to be avoided. Injunction if identical name adopted. Injunction if identical name adopted. Case: 1) Ewing v. Buttercup Margarine Co. “Ltd.” or “Pvt. Ltd.” as the last word/s. “Ltd.” or “Pvt. Ltd.” as the last word/s.
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Prohibition of use of certain Names Prohibition of use of certain Names Name, emblem, or official seal of : UNO WHO Central Govt. State Govt. Indian National Flag. Name or pictorial representation of: Mahatma Gandhi The Prime Minister Of India
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Publication of Name Address of registered Office : Address of registered Office : Outside every office or place where business is being carried out. Outside every office or place where business is being carried out. In all Business letters, bills, other official publications, receipts etc. In all Business letters, bills, other official publications, receipts etc. Name of Company on seal. Name of Company on seal.
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II. Registered Office Clause III. Objects Clause E. g: Infosys Technologies Pvt. Ltd. Main Objects: Main Objects: 1. Provide services including commercial, financial, legal, educational, data processing, management, medical, communication etc. 2. Carry on business as importer, exporter, buyers, sellers, dealers in electronic components & equipments necessary for attaining above objects.
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Incidental or Ancillary objects: Incidental or Ancillary objects: 1. Welfare of employees through pensions, allowances, pensions, bonus. 2. Apply for tenders. 3. Construct residential or industrial colonies 4. Amalgamate with other companies. 5. Radio, theatre, television, circulars as source of advertisement Other Objects: Other Objects: 1. Invest in stock, debentures. 2. Collect rents & debts.
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IV. Capital Clause V. Liability Clause Company ltd. By shares Company ltd. By guarantee Unlimited Company VI. Association or Subscription Clause
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S.No Name of subscriber Signature, name, address, description and occupation of subscriber Number of shares subscribed Signature of witness with name, address & occupation 1.
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Thank You
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