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If the Memorandum says what the company is, the Articles of Association (नियमावली) say how it runs. The Articles are the internal rulebook, binding the company and its shareholders to each other, and they are filed with the OCR alongside the MOA when the company is incorporated under the Companies Act 2063.
They typically cover how shares are issued and transferred, how general meetings are called and what counts as a quorum, how directors are appointed, removed and what powers they hold, how the board meets and decides, and how accounts and audit are handled.
In a company with two or three shareholders these clauses are the whole of your governance, and founders who took the default text usually discover them during a disagreement. Read them while everyone still agrees.
For how the Articles fit into incorporation as a whole, see our company registration guide.
An MOA that OCR rejects costs you weeks. We draft, check and file the whole set — MOA, AOA and the registration application — and handle PAN/VAT and the bank account after.