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प्रश्न
Explain the following term/concept.
objective clause
उत्तर
According to Section 13 (1) (d) of the Companies Act, 1956, the objects clause of the Memorandum of Association states the objects and purposes of the company for which it is formed. It lays down the boundaries for the operations and the powers of the company. The shareholders also come to know as to how and where their investment is employed.
The objects are classified as (1) the main objects (2) incidental objects and (3) other objects. Under the ‘main objects’, the main objects to be pursued by the company on its incorporation are stated. In ‘incidental objects’, the secondary Objects to be achieved along with the attainment of the main objects are stated. Under the ‘other objects’, any other objects, not stated under ‘main objects’ and ‘incidental objects’ are stated.
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संबंधित प्रश्न
Select the correct answer from the option given below and rewrite the sentence.
_______is a primary document of the company which contains the aims and objectives of the company.
Select the correct answer from the option given below and rewrite the sentence.
_________ clause contains the details of liability of the members.
Select the correct answer from the option given below and rewrite the sentence.
Articles establishes relationship between company and ________.
Match the pairs:
| Group ‘A’ | Group ‘B’ |
| a) Capital clause | 1. Details of capital structure of a company |
| b) Liability clause | 2. Used for multiple issue of shares |
| c) Acts beyond the powers of Memorandum | 3. Abridged Prospectus |
| d) Red Herring Prospectus | 4. Describes main objectives |
| e) Shelf Prospectus | 5. Used for Rights Issue |
| 6. Incomplete Prospectus | |
| 7. Ultra Vires | |
| 8. Doctrine of Indoor management | |
| 9. Extent of liability of members | |
| 10. Articles of Association |
Write a word or a term or a phrase which can substitute the following statement:
Primary document of a company which states aims and objectives of a company.
Write a word or a term or a phrase which can substitute the following statement:
Document which contains, Name Clause, Registered Office Clause, Capital Clause, etc.
Write a word or a term or a phrase which can substitute the following statement:
Clause which gives details of authorized capital or Registered Capital.
Write a word or a term or a phrase which can substitute the following statement:
Prospectus attached with every share application form.
State whether the following statement is True or False:
Memorandum of Association describes the nature and character of the company.
State whether the following statement is True or False:
Memorandum establishes the relationship between the Company and Members.
State whether the following statement is True or False:
Any act done by the company beyond the powers of Memorandum is Ultra Vires.
State whether the following statement is True or False:
Articles of Association is subordinate to Memorandum.
State whether the following statement is True or False:
Entrenched Articles cannot be easily altered.
State whether the following statement is True or False:
Letter of offer is issued at the time of Rights Issue.
Complete the sentence.
The documents which state the aims and objectives of a company is called as_________
Complete the sentence.
Any act done by the company which goes beyond the powers of Memorandum of Association will be calledas _________
Complete the sentence.
The document which contains the rules and regulations governing the internal management of a company is called _________
Select the correct option from the given options:
| Group A | Group B |
| Liability clause | ___________ |
Arrange in proper order.
a) Subscription clause.
b) Name clause.
c) Object clause.
Study the following case/situation and express your opinion:
A public limited company has issued all the shares mentioned in its Memorandum as Authorized Capital. Now the Company wants to make a public issue of 10,000 shares at face value of Rs 100 per share, to raise more funds for its expansion activities :
(a) Which clause of Memorandum needs to be altered?
(b) In which meeting the alteration can be approved?
(c) Which document should the company issue to invite the public to buy its shares?
