Section 8 Companies Must Amend Object Clause to Exclude Microfinance Activities, Ensure Compliance with Companies Act 2013.

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....Micro Finance/Micro Credit as an object in the Object Clause of Memorandum of Association (MoA) of Section 8 companies registered under the Companies Act, 2013-Clarification - Immediate action on the part of RoCs is required as per law, including changing their objects to prevent such companies from carrying out the micro finance activities. - Circular....