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WWW.LEGALRAASTA.COMWHAT IS THE MEMORANDUM OF ASSOCIATION & ARTICLE OF ASSOCIATIONHi, In this video the Legalraasta team will teach our all about the Memorandum of Association & Article of Association its definition, minimum requirement and advantages.

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COMPANIES ACT 2013MEMORANDUM OF ASSOCIATION AND ARTICLE OF ASSOCIATIONEvery company in India needs to submit all the documents that declare the capital structure of the business, the business it is into and how it is owned and governed under the Companies Act. Memorandum of Association (MOA) and Articles of Association (AOA) contain all these details. Think of them as your company's constitution. The format should be standard for these documents, but you need to consult it with a professional/expert.Sample AOA and MOAas per schedule 1 of companies act,13.Let's find out what exactly they are for and how you can have them altered as you grow your business.

MEMORANDUM OF ASSOCIATION AND ARTICLE OF ASSOCIATIONEvery company in India needs to submit all the documents that declare the capital structure of the business, the business it is into and how it is owned and governed under the Companies Act. Memorandum of Association (MOA) and Articles of Association (AOA) contain all these details. Think of them as your company's constitution. The format should be standard for these documents, but you need to consult it with a professional/expert.Sample AOA and MOAas per schedule 1 of companies act,13.Let's find out what exactly they are for and how you can have them altered as you grow your business.

MEMORANDUM OF ASSOCIATIONMemorandum of Association (MOA)Contents: The main purpose of theMOAis to confirm that the shareholders wish to form under the Companies Act, 2013. Every subscriber must receive at least one share and the name of the company, the registered office address, the main aims and objectives of the business, capital structure, and information about the shareholders, along with their liability should be mentioned in the documents.Changes:If there is any change in these clauses then it needs to be communicated with theRegistrar of Companies (ROC). A change in the name requires written approval of the government if substantial. A change in the address requires a special resolution to be passed if within the same state; if it falls under the jurisdiction of a different ROC, then also a confirmation from the government (which then needs to be filed with the ROC within 30 days).By passing a special resolution of the board, the objects can be altered. If there is any further change then it needs to be communicated in writing with the ROC.LegalRaasta can assist you in fulfilling all the compliances related toChange in Registered Officeat a price as low as Rs 3,599/- only ( inclusive of government fee)

ARTICLE OF ASSOCIATIONArticles of Association (AOA)Contents:The duties and powers of the Board of Directors, individuals roles and responsibilities of the directors and how the business is to be carried on, all are defined by the AOA. Other important contents are the classes of shares, procedure for issue and transfer of share certificates, voting rights of members and their borrowing power.Changes:If there are any changes to theAOA, then it has to be made by special resolution and must be communicated to the ROC within 30 days and registered within three months. Of course, only changes authorized by the Act can be made and these must be for the good of the company as a whole.The charter for the company is MOA which defines the bigger picture while internal regulations are being defined by AOA. Therefore, the MOA requires governmental authorizations while the AOA do not need any government authorization and can be changed by special resolution.

INCORPORATION OF COMPANYARTICLE OF ASSOCIATION AND MEMORANDUM OF ASSOCIATIONAOA and MOA are the most important documents of the company drafted at the time of Incorporation of Company. Therefore, it is advisable to take help of an expert in drafting these documents. LegalRaasta can assist you in drafting these documents along with theIncorporation of a company.

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