Memorandum of Association (MoA) 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 under the Companies Act, 2013.
MoA is an important document of the company which is prepared for its formation. It is essential for incorporation of the company and also for its continued existence.
The memorandum of association contains vital information about the company which is briefly indicated below:
i) Name and Nature of company- The name of the company and its nature i.e. OPC, private limited, limited, company limited by guarantee, etc. is mentioned in the MoA.
ii) Objects of the company-The objects of the company are mentioned in the MoA. These are bifurcated in to main objects and the objects which are necessary for furtherance of those main objects.
It may be useful for the investors, directors, and other stakeholders associated with the company.
iii) Registered Office- The registered office clause is also mentioned in the MoA.
iv) Liability -The liability clause is mentioned in the MoA.
v) The authorized capital of the company is mentioned.
vi) Subscribers-The details about the subscribers to the MoA, who desires to form a company are mentioned under this clause.
The Memorandum of Association of a company may be in any of the form as per Table A, B, C, D, E of Schedule I of the Companies Act, 2013, as applicable.
Alteration of ‘Memorandum of Association’
The memorandum of association may be altered as per the requirements from time to time. It may be altered for various reasons including any change in the name, objects, registered office, capital, etc. in accordance with the procedure as per the Companies Act, 2013.
Summary
‘Memorandum of Association’ contains vital information about the company, such as the name, objects, liability, capital, etc. which may be useful for its stakeholders.
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