MOA and work to be done - difference and issues
28-Oct-2023 (In Corporate Law)
While incorporating the section 8 company, we have included detailed activities of the company in the additional document - "Work to be done" addressed to the registrar, but only added minimal and broad objects in MOA. Will this restrict us to carry out activities not included in MOA?
hi
if your business has expanded beyond the scope of Memorandum and articles, it is mandatory that you amend your articles and memorandum given that income tax, bank authorities look in to your memorandum for computation of taxes, deduction of expenses, sanction of bank loan etc.
also if the company is not carrying its business in accordance to it's memorandum, the company can be wound up by registrar of companies arbitrarily
if your business has expanded beyond the scope of Memorandum and articles, it is mandatory that you amend your articles and memorandum given that income tax, bank authorities look in to your memorandum for computation of taxes, deduction of expenses, sanction of bank loan etc.
also if the company is not carrying its business in accordance to it's memorandum, the company can be wound up by registrar of companies arbitrarily
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