3. What is Memorandum of Association? State the provisions of Companies Act 2013 relating to alteration in object clause of the company. Can a company purchase its own shares? How and under what conditions? Mr. A purchased 500 shares from Mr. B of XYZ Limited. Later on he came to know that the prospectus of the company contained some wrong statement. What remedies are available to Mr. A against the company? Will the position be different if not Mr. A but Mr. B to whom the shares were allotted by the company files the suit against the company