Article of Association (AOA) of Indian Company

Article of Association (AOA) of Indian Company | 

Article of Association of any company is regulations for its internal management. It does not define relationship of company with outsiders. In Fact, It describes how company would manage its affairs and how it would function. Article of Association along with Memorandum of Association of Company form “Constitution of the Company”.

What is Article of Association?

The article of is a document that specifies the regulations for internal management and operations of the company. The articles of association defines the company’s motives and lays down how tasks will be accomplished within the company, including the process for appointment of directors, how will shares be issued, re-issued, bought back, and how the company could be wound up in the future.

Contents of Article of Association of Indian Company:

Article of Association of company describes rules and regulations for internal management of the company. It contains details of how directors can be appointed, re-appointed and removed, how shares can be issued, re-issued and bought back etc.

Article of Association contains details about mainly:

  1. Share capital including sub division thereof, rights of various shareholders, payment of commission, share certificates
  2. Lien of shares
  3. Calls on shares
  4. Transfer of shares
  5. Transmission of shares
  6. Forfeiture of shares
  7. Surrender of shares
  8. Conversion of shares into stock
  9. Share warrant
  10. Alteration of capital
  11. General meetings and proceedings thereat
  12. Voting rights of members, voting by poll, proxies
  13. Directors, including first directors, their appointment, remuneration, qualifications as well as powers and proceedings of Board of directors’ meetings
  14. Dividends and Reserves
  15. Accounts and Audits
  16. Borrowing Powers
  17. Winding up- Voluntary or Mandatory Winding Up

Thus, we can see that in article of association of a company, detailed procedures, rules and regulations are mentioned for internal management of the company.

For your convenience, we have given below format of Article of Association of Indian Company. You can download it for your usages.

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Article of Association (AOA) of Indian Company | Download format of AOA as per Companies Act, 2013

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