If Landlord approves any alterations, additions, improvements, etc. Tenant shall have the right at any time throughout the term of this Lease and any extensions hereof, to make or cause to be made, any alterations, additions, or improvements, or install or cause to be installed any trade fixture, signs, floor covering, interior or exterior painting or lighting, plumbing fixtures, shades or awnings, as Tenant may deem necessary or suitable with Landlords prior written approval, which approval shall not be unreasonably withheld or delayed. No person shall be entitled to any lien derived through or under Tenant for any labor or material furnished to the Leased Premises, and nothing in this Lease shall be construed to constitute a consent by Landlord to the creation of any lien. Section 13 of Companies Act 2013 regulates the process of amendment in Memorandum of Association is applicable to all companies. If it is a special resolution, a copy of it should be filed with the Registrar within 30 days. Subsequent to obtaining Landlords consent and prior to commencement of the Alterations, Tenant shall deliver to Landlord any Alterations. The application shall be made to the court within 21 days after passing of the resolution or consent given as the case may be.
Master agreements and job orders. A copy of the special resolution should be filed with the Registrar within 30 days of its passing. Content and format of master agreements. If, upon perusal of them, you think any alteration necessary, it shall be made. Interest of Shareholders: Before sanctioning the scheme of reduction of share capital, the court must also look after the interest of shareholders.
The equipment lessor includes such language so that it will have no argument with the landlord as to ownership of the itemized equipment. Renter will be allowed to make alterations and improvements to the Property upon the signing of this Agreement, provided that Landlord has approved the alterations and improvements. Such an application can be made only by persons who held at least ten per cent of the issued shares of that class. The Registrar of Companies shall register the same. Renter shall not be required to return Property to its original condition upon the expiration of this Agreement.
Apart from that rule of thumb, rights to alter the premises are all subject to negotiation between the landlord and the tenant. Upon the expiration of the Initial Term of this Lease, Tenant shall have the option to remove such alterations, decorations, additions or improvements made by it, provided any damage to Premises resulting from such removal is repaired. It lays down that a member cannot, by altering the memorandum or articles, be made responsible to take more shares unless he agrees to do so in writing. This provision appears in the form because language in pro-landlord lease forms customarily makes all improvements to the leased premises vest in the landlord's ownership at the time they are made, except for trade fixtures and equipment see Section 15. For the purpose, a special resolution has to be passed and a written approval of the Central Government is to be obtained. All clauses of Memorandum except Capital clause can be altered by following the provisions of Section 13 of Companies Act, 2013 by passing special resolution.
The change of name shall be complete and effective only on the issue of such a certificate. A special resolution must be passed for this purpose. To write off preliminary expenses of the company. On the issuance of new certificate, the change of name shall be complete. Reduction in Share Capital 3. Reduction under item 3 affects the rights of different classes of shareholders as well as the interest of the members of the public who may be induced to take shares in the company.
Objections, if any, received by the applicant company shall be forwarded to the Central Government on or before the date of hearing. Such approved alteration or improvement shall be made in a good and workmanlike manner and in a manner so that the structural integrity of the Building shall not be impaired. Shifting of registered office from one State or Union territory to another State. Enter the Equipment Lessor Equipment lessors will usually not install business equipment in leased premises unless they receive a waiver of certain rights from the landlord ensuring that they won't lose the equipment if the tenant defaults. To pass a resolution: To increase the share capital a resolution must be passed by the board of directors. Reduction in Share Capital: A company limited by shares or a guarantee company with a share capital is permitted to reduce its share capital by Section 100 in any of the following ways: i Extinguish or reduce: By extinguishing or reducing the liability on any of its shares in respect of share capital not paid up. Every shade of alteration in them I was familiar with, for their changes were not many.
For continuing offence, they are punishable with further fine upto Rs. However, any improvements of a temporary nature may be made by Tenant and removed by it at the expiration or termination hereof. Alteration of the Capital Clause of MoA The capital clause of a company can be altered for any one of the following purposes: 1. The list of members showing their present shareholding and the number of bonus shares to which they are entitled should be prepared. Minor Mistakes A minor mistakes like spelling mistakes etc. Therefore, alterations resulting in additional liability on a member cannot be made except with the written consent of the member concerned. Author accepts no responsibility whatsoever and will not be liable for any losses, claims or damages which may arise because of the contents of this write up.
Further, an affidavit verifying the said list shall be given by Company Secretary, if any and atleast two of the directors of the Company, one of whom shall be managing director, if any. The purpose of the form is to give the equipment lessor furnishing the equipment fairly broad rights regarding the installation, servicing and removal of that equipment. As per Rule 32 of Companies Incorporation Rules, 2014, this Special Resolution under section 13 8 is to be passed through Postal Ballot. Duty of Registrar of Companies As per section 13 10 , no alteration made under this section shall have any effect until it has been registered in accordance with the provisions of this section. The notice to be given to the Registrar should include particulars of the class of shares affected and the conditions, if any, subject to which the new shares have been or are to be issued. In such case ordinary resolution is sufficient.
So it is advisable to adopt New sets of Memorandum of Association of company at the time of Alteration in Object Clause of Memorandum of Association. Shares are issued within two months after the date on which the issue is sanctioned by the Company Law Board unless the time is further extended. The Registrar shall register the same within one month from the date of filing of such document. Publish an advertisement, giving above mentioned details of special resolution to be passed, which shall be published simultaneously with the dispatch of postal ballot notices to shareholder at least once in a vernacular newspaper in the principal vernacular language and at least once in English language in an English newspaper circulating at the place where the registered office of the company is situated and place it on the website of the Company if any, along with the justification of such change. The company shall then file with the Registrar a certified copy of the confirmation by the Regional Director, within 2 months from the date of confirmation, together with a printed copy of the Memorandum of Association as altered. Every prospectus relating to the issue of shares shall disclose particulars of the discount allowed on the issue of shares or that amount which has not been written off at the date of the issue of prospectus.