Aryan Vehicle Tracking System
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ARYAN Solution is a fleet telematics company headquartered in Pune, India that has been operating for 2.5 years. They have acquired 3 customers in the Middle East and have an integrated product development center in Pune with a team of 8 engineers. Their product portfolio includes GPS/GSM tracking devices, geo-fencing, authentication, and vehicle security products like electronic remote locking systems. They aim to achieve high customization and localization with strong local technical support and the lowest cost of ownership in the industry.
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Importance of Memorandum of Association:
Legal Requirement: The MOA is a legal requirement for the formation of a company. It must be filed with the Registrar of Companies during the incorporation process.
Constitutional Document: It serves as the company's constitutional document, defining its scope, powers, and limitations.
Protection of Members: It protects the interests of the company's members by clearly defining the objectives and limiting their liability.
External Communication: It provides clarity to external parties, such as investors, creditors, and regulatory authorities, regarding the company's objectives and powers.
https://seribangash.com/difference-public-and-private-company-law/
Binding Authority: The company and its members are bound by the provisions of the MOA. Any action taken beyond its scope may be considered ultra vires (beyond the powers) of the company and therefore void.
Amendment of MOA:
While the MOA lays down the company's fundamental principles, it is not entirely immutable. It can be amended, but only under specific circumstances and in compliance with legal procedures. Amendments typically require shareholder
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