Jun 30, 2022

Preventing Section 8 Companies from Carrying Out Microfinance Activities

In light of Section 8 companies altering their objects clause of the memorandum of association to carry out microfinance activities, which is not allowed by the Registrar of Companies (‘ROC’) at the time of incorporation, the MCA has, by way of a Circular dated May 30, 2022, issued directions to the ROC to take steps as per law, including alteration of objects clause, to prevent Section 8 companies from carrying out microfinance activities.




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