Yes. A Private Limited Company or a Public Limited Company change object for which it was incorporated after approval of its Share Holders through a Special Resolution in General Meeting.
Yes, Company has to inform the ROC after getting approval of change of object from shareholders.
It generally takes around 25 days’ time for getting approval of change of object from the ROC. However everything depends on the processing time taken by Government department.
There is no restriction on change of object clause as such, but a Public Limited company who has raised money from public and still has not utilized the money fully cannot change its object. There are other formalities to change object for such companies.
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