IMPORTANT CONCEPTS

MEMORANDUM OF ASSOCIATION
A Memorandum of Association (MOA) represents the charter of the company. It is a legal document
prepared during a company's formation and registration process. It defines the company's relationship
with shareholders and specifies the objectives for which the company has been formed. The company can
undertake only those activities mentioned in the Memorandum of Association.

ARTICLES OF ASSOCIATION

Articles of association form a document that specifies the regulations for a company's operations and
defines the company's purpose. The document lays out how tasks are to be accomplished within the
organization, including the process for appointing directors and the handling of financial records.

DOCTRINE OF CONSTRUCTIVE NOTICE

In companies law the doctrine of constructive notice is a doctrine where all persons dealing with a
company are deemed (or "construed") to have knowledge of the company's articles of association and
memorandum of association. The doctrine of indoor management is an exception to this rule.

DOCTRINE OF INDOOR MANAGEMENT

The doctrine of indoor management, also known as the Turquand rule is a 150-year old concept,
which protects outsiders against the actions done by the company. Any person who enters into a contract
with the company shall ensure that the transaction is authorised by the articles and memorandum of the
company.

DOCTRINE OF LIFTING THE CORPORATE VEIL

If a company accepts, invites, or allows others to give it money against the provisions as described under
section 73 and section 76 and if the company doesn't give the money back before the deadline, the
corporate veil can be lifted and the people in charge of the company can get punished for the same.