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Introduction To Topic
Introduction To Topic
The memorandum of association and articles of association are the two charter
documents, for setting up of the company and its operations thereon. ‘Memorandum of
Association’ (MOA), is the root document of the company, which contains all the basic
details about the company. On the other hand, ‘Articles of Association’ (AOA), is a
document containing all the rules and regulations designed by the company.
While the MOA sets out the company’s constitution, and so it is the cornerstone on which
the company is built. Conversely, AOA comprises of bye-laws that govern the company’s
internal affairs, management, and conduct. Both, MOA and AOA, requires registration,
with the Securities and Exchange Commission of Pakistan (SECP) or Companies
Registrar, when the company goes for incorporation.
Introduction of Company:
Nishat Mills Limited is the flagship company of Nishat Group. It was established in
1951. It is one of the most modern, largest vertically integrated textile companies in
Pakistan. Nishat Mills Limited has 227,640 spindles, 805 Toyota air jet looms. The
Company also has the most modern textile dyeing and processing units, 2 stitching
units for home textile, Two stitching units for garments and Power Generation facilities
with a capacity of 120 MW. The Company’s total export for the year 2016 was Rs.
35.931 billion (US$ 344.744 million).
NML started out as a weaving unit with 500 semi-automatic looms; later 10000 spindles
were added, laying the foundation on nation’s biggest textiles composite project.
Composite project at Nishat mills limited Faisalabad covering 98 acre of land is
providing all production process under one roof i.e. spinning, weaving, processing,
stitching and power generation.
Summary of Topic:
Memorandum and Articles are the two very important documents of the company, which
are to be maintained by them as they guide the company on various matters. They also
help in the proper management and functioning of the company throughout its life. That
is why every company is required to have its own memorandum and articles. Below is
the Memorandum and Article of Association for NISHAT MILLS PVT LTD.