The Memorandum of Association represents the charter of the Company. It is a legal document drafted during formation and registration of the company specifying the object of the business. Memorandum of Association is a legal document that regulates the external affairs of the company and contains fundamental conditions of operation for the company. As per section 2 of the Companies Act, 2013 memorandum means the memorandum of association of a company as originally framed or as altered from time to time in pursuance of any previous company law or of this Act. Memorandum of Association of a company has several important clauses namely object clause, name clause, registered state clause, liability clause, capital clause, subscriber clause, etc.